China reaffirms commitment to global anti-corruption cooperation at UNCAC conference

China on Monday reaffirmed its commitment to combating corruption at home and strengthening international cooperation amid mounting global governance challenges at the opening of the 11th Session of the Conference of the States Parties to the United Nations Convention against Corruption (UNCAC).

More than 2,500 leaders and senior officials from around the world convened at Doha, the Qatari capital, for the five-day conference this week, which focuses on enhancing global cooperation in the fight against corruption.

The meeting coincides with the 20th anniversary of the Convention's entry into force, at a time when trust in institutions and the international governance system is under growing pressure.

China is playing an active role at this year's conference, with a high-level delegation led by Hua Chunying, vice foreign minister of the country. While addressing the opening ceremony, Hua reaffirmed China's resolute stance against corruption.

"The Communist Party of China (CPC) and the Chinese government stand firmly against corruption. Corruption and misconduct are grave threats to the Party, the people, and the healthy development of the economy and society. No one is above Party discipline or the law," she said.

Hua highlighted China's comprehensive approach, combining strict punishment with strong prevention. She pointed to the CPC's "eight-point regulation", now in place for more than a decade, as a cornerstone of improving conduct, strengthening oversight, and eliminating the breeding ground for corruption.

"China was among the first countries to sign and ratify UNCAC and has consistently supported international cooperation under the UN, G20, APEC, and BRICS frameworks. International anti-corruption cooperation should be based on equality, international rule of law, and multilateralism. We must reject selective enforcement, double standards, and the politicization of anti-corruption," she noted.

Hua also outlined China's Global Governance Initiative, stressing the principles of sovereign equality, people-centered development, and real results, particularly in asset recovery and judicial cooperation.

"China stands ready to work with all countries to build a greater political consensus, strengthen legal foundation, intensify joint action, foster a world of integrity and clean governance, advance a more just and equitable global governance system against corruption, and move closer to a community with a shared future for humanity," said the Chinese vice foreign minister.

As corruption grows more complex and cross-border in nature, China has reaffirmed its strong commitment to global anti-corruption cooperation.

The five-day conference is expected to push for stronger implementation of the UNCAC, reinforcing integrity as a cornerstone of sustainable development and global stability.

China reaffirms commitment to global anti-corruption cooperation at UNCAC conference

Shares of Chinese graphics processing unit (GPU) producer MetaX Integrated Circuits soared nearly 700 percent on its trading debut in Shanghai on Wednesday.

Priced at 104.66 yuan (about 14.86 U.S. dollars) in the initial public offering on the Science and Technology Innovation Board of Shanghai Stock Exchange, MetaX shares skyrocketed 687.79 percent to close at 824.5 yuan in the morning, bringing the Shanghai-based company's market capitalization to 329.882 billion yuan.

So far, the combined market cap of China's three major GPU chipmakers and computing service providers, namely Cambricon Technologies, Moore Threads, and MetaX, have exceeded the 1-trillion-yuan mark.

According to the prospectus, MetaX will focus its IPO proceeds on research and development of new high-performance general-purpose GPUs and related industrial products. Currently, the company's products are deployed in more than 10 intelligent computing clusters, and its computing network covers the national artificial intelligence (AI) public computing platform, the intelligent computing platforms of major telecom operators, and commercial intelligent computing platforms.

"We are entering the capital market as a core domestic supplier of base-level computing power. We will spend every penny wisely on developing our base-level core technologies, products, and ecosystems," said Sun Guoliang, senior vice president of MetaX.

MetaX's IPO is expected to boost the development of relevant upstream and downstream sectors, including manufacturing of chips, operating systems, general and industry-specific AI models, and intelligent agents.

"It's not a single company, but an entire industrial chain. I'm glad to see that models of various industries have been gradually applied in various production scenarios this year, with some small closed loops taking shape," Sun said.

Experts note the accelerated upgrading and application of general-purpose large language models and vertical models in various industries have created higher demands for computing power in China. The size of China's AI chip market is estimated to reach 178 billion yuan in 2025.

"Specifically, amid a shift from simple reasoning to the training of large language models, and a shift from single-modal text processing to numerous multimodal large language models, the demands for large models include graphics rendering, so the demands for computing power will be enormous in the future," said Zhang Bo, a professor at University of Shanghai for Science and Technology.

MetaX shares soar 687.79 pct on trading debut