Mozambican President Daniel Chapo said on Monday that his country will advance green industries by drawing on China's successful experiences, following his weekend tour to China's Qinghai Province.
In Qinghai, Chapo toured a clean energy and green computing power dispatch center, a fully automated intelligent production line for photovoltaic modules, and a mining development company. From the selection of hydropower station sites to the establishment of a wind-solar hybrid energy system, and the manufacturing process of photovoltaic panels, he listened attentively and raised his questions in detail, eager to find out the secrets in China's successful green development. "We are very much in agreement that 'lucid waters and lush mountains are invaluable assets.' They are real resources. For Mozambique, we are also working to be a benchmark for clean energy such as solar energy and wind energy in Africa. I have learned a great deal from this visit. China, while developing its energy sector, has always placed great importance on protecting the environment. This is a very important experience for us," the president said.
Mozambique is rich in hydropower, wind power, solar power, and mineral resources. But how to achieve efficient development and sustainable utilization, especially how to improve power supply and develop green industries, are the crucial issues for Mozambique's national development.
Qinghai's mature clean energy system integrating hydropower, solar power, and wind power, along with its innovative models for promoting local green electricity conversion and supporting green computing power development presented opportunities for Chapo and his team.
At a development and investment roundtable on Monday, representatives from both countries signed a couple of strategic cooperation letters of intent covering clean energy and mineral resources.
"We think that we will have to work together. Our two countries and peoples share a brotherly friendship. And we think Mozambique is part of the Belt and Road Initiative and we can continue to work together to build more infrastructure under this initiative proposed by President Xi Jinping," he said.
At the invitation of Chinese President Xi Jinping, Chapo is on a state visit to China from April 16 to 22. It is his first visit to China since he took office in January 2025.
Before his trip to Qinghai, Chapo visited a number of factories in central China's Hunan Province from Thursday to Saturday, seeking Chinese expertise in manufacturing to support Mozambique's development. He continued his week-long trip to Beijing from Monday.
Mozambican president says to advance nation's green development with Chinese experiences
Mozambican president says to advance nation's green development with Chinese experiences
Mozambican president says to advance nation's green development with Chinese experiences
China's benchmark Shanghai Composite Index closed almost flat on Monday amid a wide sell-off of artificial intelligence-related stocks triggered by calls from top executives of major U.S. AI developers to slow the pace of AI development, according to Timothy Pope, an analyst for China Global Television Network (CGTN).
The Shanghai Composite Index dropped 0.07 percent to 3,885.33 points on Monday, while the Shenzhen Component Index closed 0.64 percent lower at 13,384.57 points.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 1.10 percent to close at 3,285.58 points Monday. The STAR Composite Index, which reflects the performance of stocks on China's sci-tech innovation board, closed 0.35 percent lower at 1,811.23 points.
Pope noted that despite the overall resilience of major indexes, AI hardware stocks were among the biggest losers on the day.
"The Chinese mainland markets proved pretty resilient today actually as global AI stocks wobbled. We saw oil prices jump and interest-rate hike bets rising as well. The Shanghai Composite Index ended the session pretty much flat, while the Shenzhen Component [Index] lost a little more than half of 1 percent. AI stocks around the world sank today after the Anthropic CEO Dario Amodei published an essay calling for a slowdown in the development of frontier AI models. That was also backed up by OpenAI boss Sam Altman and some other industry leaders as well. But critically for Chinese companies, Amodei also called for tighter restrictions on exports of advanced AI chips and semiconductor equipment to China. We saw AI shares on the A-share have been caught in a bit of a rotation cycle already lately, with investors switching in and out pretty aggressively from these AI hardware stocks. So that added some extra momentum to today's move out of that sector. They were falling and were one of the weaker sectors today," said Pope.
The analyst said stocks of listed big state-own banks saw an injection of capitals from investors amid AI sell-off.
"Investors took some shelter in financial stocks. The big state-owned banks were once again helping to support the Shanghai index and investors were also waiting for the latest bank-lending data, although that wasn't released before the close of the markets today. There was also a small rebalance in the STAR 50 today. A handful of new companies joined the high-tech index, but that didn't fundamentally change things for the pressured tech sector," he said.
Pope highlighted that Chinese investors will witness a slew of data release in the rest of the week, helping them to have a more comprehensive grasp of the status of the country's domestic demand.
"For the week ahead in China, it's going to be very data-heavy. Tomorrow we have a big data dump including fixed-asset investment, property data, retail sales and industrial production and that's really going to give the market some clues about the state of domestic demand after those very strong trade figures that we saw last week," he said.
Chinese stocks resilient as calls for AI slowdown trigger sell-off: analyst
