As the world's second-largest and one of the fastest-growing economies, China has a vibrant and vast market, and continues to provide new opportunities for the world through new developments. As China continuous to develop, its biomedical industry is undergoing an important phase. Strategic opportunities are attracting more multinational pharmaceutical companies to expand their footprint in China, demonstrating the strong pull of the country's market. Following Bayer's first innovation center's establishment in Beijing in 2023, Bayer Co.Lab China, a global life sciences co-creation platform, celebrated its grand opening in Shanghai on September 26. At this point, Bayer's "innovation double engine" in China's cutting-edge life sciences sector has been officially completed, giving the Chinese market a "vote of confidence" with its actions, marking a new step forward in Bayer's innovation strategy in China.
Guests unveiled Bayer Co.Lab China, from left: Friedemann Janus, Senior Vice President, Head of Regional Business Development & Licensing, Co.Lab and Divestitures, Pharmaceuticals Division at Bayer; Wu Qiang, Member of the Standing Committee of the CPC Pudong New Area Committee, Deputy Governor of Pudong New Area, and Deputy Director of the China (Shanghai) Pilot Free Trade Zone Administration; Sebastian Guth, Chief Operating Officer of Bayer Pharmaceuticals; Zhu Zhisong, Member of the Standing Committee of the CPC Shanghai Municipal Committee, Secretary of the CPC Pudong New Area Committee, and Director of the China (Shanghai) Pilot Free Trade Zone Administration; Juergen Eckhardt, Head of Business Development, Licensing and Open Innovation at Bayer AG's Pharmaceuticals Division; Seth Ettenberg, President and Chief Executive Officer of BlueRock Therapeutics; and Gustavo Pesquin, Chief Executive Officer of AskBio.

The "Bayer Yizhuang Open Innovation Center" aims to deepen the integration of production, academics and research. It seeks to accelerate pioneering fields of the biomedical industry, such as cell and gene therapies, and help upgrade the local biopharmaceutical industry. As part of Bayer's global strategic innovation ecosystem, the Bayer Co.Lab co-creation platform will provide exclusive space and tailored support services for Chinese startups, promote open innovation and collaboration in the biotech ecosystem and play an important part of Bayer's efforts to promote local R&D and innovation throughout the whole chain. Bayer Co.Lab China will empower eight to 10 start-ups, focusing on state-of-the-art innovations, including cell and gene therapies, oncology and new technology platforms. Previously, Bayer Co.Lab has been strategically deployed in innovation hotspots around the world, such as the United States, Japan and Germany.

Open collaboration empowers source innovation in whole chain

Bayer Co.Lab China relies on the dominant position of China's local pharmaceutical industry cluster and the resources of the whole industry chain. It is located in Shanghai Innovation (SH-INNO), which hosts first-class universities and top scientific research institutions. With the open, shared and collaborative innovation of the industrial ecosystem around SH-INNO, Bayer Co.Lab will provide end-to-end full-chain support for residents, helping local companies improve their sci-tech innovation-sourcing capabilities in advanced areas, such as cell and gene therapies, and empower local innovation.

Co.Lab China will not only provide an ideal co-creation space for residents but will also leverage Bayer's global R&D network and expertise to help biotech startups connect to a global innovation collaboration network, providing international perspectives and resources. Bayer Co.Lab China hosts a wealth of internal and external expert resources to accelerate innovation transformation through professional guidance and consultation. As an important component of Bayer's open innovation strategy, Co.Lab China will not only inject new momentum into Bayer's global R&D and innovation but also will become an important window for the globalization of China's innovation.

"China has become an important source of innovation in global life sciences," said Juergen Eckhardt, Head of Business Development, Licensing and Open Innovation at Bayer AG's Pharmaceuticals Division. "We are honored to bring the Bayer Co.Lab platform to China, and we hope that through multiparty collaboration, we can quickly identify and drive early-stage innovations to jointly explore solutions to major health problems and unmet medical needs, so that more ideas can be put into practice in China."
Expand footprint, dive into innovation and development of China's pharmaceutical industry

Bayer has long regarded the Chinese market as one of the most resilient growth engines in the world. With more than 140 years of experience in China, Bayer has continued to expand its innovation footprint. In 1995, Bayer Pharmaceuticals established a production and packaging plant in Beijing - the company's first of its kind in China - and continued to invest heavily in expansion, greatly increasing the Beijing site's production capacity. In 2009, Bayer established a global R&D center for prescription drugs in Beijing. Through this R&D center, China is included in more than 80 percent of Bayer's pivotal multicenter clinical trials, including early and late-stage clinical development programs. After nearly 30 years of development, Bayer is the only biomedical company in Beijing with an output value exceeding 10 billion yuan （$1.42 billion） for 11 consecutive years. It is also one of the few foreign-funded enterprises in Beijing that has both a "world-class product supply center" and a "global R&D center".

In addition, by deepening its strategic partnerships with well-known local academic institutions, especially Tsinghua University and Peking University, Bayer is committed to accelerating the transformation of basic research results into new drug R&D, and helping to improve China's pharmaceutical R&D and innovation capabilities. To date, Bayer has carried out more than 100 joint research projects with these two universities. These partnerships have become a model of collaborative development and innovation of "industry-university research" in China's domestic pharmaceutical and medical sectors.

The scale of China's biomedical market ranks second in the world, and the pipelines of pharmaceutical innovation ranks among the top of the world's second echelon. Its drug research and industrial development are entering a new stage of innovation and are consequently leapfrogging. As for cell and gene therapies, oncology and other innovative areas, China has shown great potential and innovative vitality, and occupies an increasingly important position in the global pharmaceutical industry chain.

Based on a deep understanding of China's pharmaceutical innovation potential and a strong recognition of local innovative forces, Bayer's Co.Lab's growth in China marks another major move by Bayer to increase its investment in innovation in the country, demonstrating its firm determination to take root in the Chinese market. Bayer will continue to enhance local collaboration to accelerate innovation and co-creation in China, work with more local companies to promote innovation and development in the medical and health industry in China and even the world, further stimulate the innovative vitality of China's pharmaceutical industry and attain a stronger footing in the global pharmaceutical innovation stage.

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About Bayer

Bayer is a global company with core competencies in health and agriculture in the life sciences sector. The company is committed to helping people and the planet thrive through products and services that help people overcome the major challenges posed by a growing and aging global population. Bayer is committed to driving sustainability and making a positive impact on its business. At the same time, the Group is also improving profitability and creating value through technological innovation and business growth. Globally, the Bayer brand stands for trustworthiness, reliability and quality. In fiscal 2023, Bayer will have approximately 100,000 employees and sales of 47.6 billion euros. R&D investment, excluding special projects, amounted to EUR 5.8 billion. See www.bayer.com for more information.

China's Shanghai Composite Index surged more than 100 points, closing above 3,000 points on Thursday, the first time above the key benchmark since July 2, following a series of pro-growth policy measures rolled out by policymakers that help lift up investor confidence. 

The rally came after a key Communist Party of China (CPC) leadership meeting on Thursday that stressed the need to boost the country's capital market, while actively promote medium- and long-term funds to enter the market, the Xinhua News Agency reported.

The Political Bureau of the CPC Central Committee held a meeting on Thursday to analyze and study the current economic situation and make further arrangements for economic work. It was noted at the meeting that the fundamentals of the Chinese economy and the favorable conditions such as a vast market, strong economic resilience and great potential have remained unchanged, Xinhua said. 

All three major stock indices for the A shares posted gains of over 3 percent, with the Shanghai Composite Index rising by 3.61 percent, the Shenzhen Component Index up by 4.44 percent, and the ChiNext Index rising by 4.42 percent. 

This marks the third straight day that all three indices finished with gains.

Trading volume at the Shanghai and Shenzhen bourses reached a total of 1.1625 trillion yuan ($165.6 billion) on Thursday, 5.1 billion yuan higher than a day ago.

More than 5,100 stocks reported gains in prices, with more than 100 stocks reaching their daily upper limit. The real estate companies led the rally, followed by liquor, food, banks and securities companies. 

"With multiple favorable policies being released, we are witnessing a remarkable rally in market expectations. Three consecutive days of gains suggest the A-share market is now entering a new upward phase," Yang Delong, chief economist at Shenzhen-based First Seafront Fund, told the Global Times on Thursday.

Chinese financial regulators on Tuesday released a slew of favorable policies to support the capital market which has lifted investor confidence.

China will issue a guideline to encourage medium and long-term funds to enter the capital market, the country's top securities regulator said on Tuesday. The China Securities Regulatory Commission (CSRC) plans to release six measures to promote corporate mergers and acquisitions, and work with various parties to facilitate the circulation of private equity and venture capital funds.

And, China's central bank, the People's Bank of China, will introduce new monetary policy tools to support the stock market's growth. The central bank will set up a swap program allowing securities, funds, and insurance companies to secure liquidity using asset collateral, said Pan Gongsheng, governor of the People's Bank of China, on Tuesday.

China-Australia relations have seen positive progress with more recent high-level exchanges, and observers noted that strengthened communication between the two sides can effectively avoid amplifying differences. The two countries' top diplomats met on Tuesday, meanwhile the fourth China-Australia Strategic Economic Dialogue is scheduled to be held in Beijing.

According to Xinhua News Agency on Wednesday, Chinese Foreign Minister Wang Yi met with his Australian counterpart, Penny Wong, on the sidelines of the United Nations General Assembly in New York on Tuesday.

Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, told Wong that both sides should continue to build a more mature, stable, and fruitful comprehensive strategic partnership.

Both sides should properly handle the issues in bilateral exchanges and not define China-Australia relations from the perspective of differences, Wang said, hoping Australia joins hands with China to ensure that bilateral relations go on the right track and achieve more results.

Wong said Australia is ready to work with China to strengthen economic and trade cooperation, engage in constructive communication on issues of differences, and promote the stable development of bilateral relations. The Australian side's adherence to the one-China policy has not changed, Wong said.

Chen Hong, executive director of the Asia Pacific Studies Center at East China Normal University, spoke positively of the meeting, stressing that during the gradual improvement of China-Australia relations, increased high-level communication between the two sides has been beneficial in steering the overall direction of their relationship, highlighting the importance both parties place on enhancing ties. 

With the US election due in November and an Australian federal election next year, shifts in the political landscape may lead to policy uncertainties especially when it comes to China policy, making it even more crucial for China and Australia to deepen and strengthen high-level dialogue, as it can help avoid misunderstandings and misjudgments, Chen noted.

Analysts have also set high expectations for Australian Treasurer Jim Chalmers' upcoming visit to China.

On Wednesday, China's National Development and Reform Commission announced that according to the agreement between China and Australia, Australian Treasurer Jim Chalmers will visit China from Thursday to Friday. During this visit, Zheng Shanjie, head of the National Development and Reform Commission, will co-chair the fourth China-Australia Strategic Economic Dialogue with Chalmers.

As the treasurer, Chalmers oversees Australia's economic direction, Chen pointed out.

His visit to China is expected to not only promote bilateral economic and trade relations but also to enhance the overall bilateral relationship, Chen noted.

Additionally, there may be opportunities for breakthroughs in cooperation between the two nations in new areas, particularly in addressing climate change and clean energy initiatives, Chen said.

However, experts also warned that the recent negative dynamics in the Quad leaders' summit regarding China are not conducive to the steady and healthy development of China-Australia relations.

The first high-altitude vertical recovery flight test of China's privately run carrier rocket Nebula-1 has smoothly nailed more than 90 percent of its verification tasks, despite the anomaly at the last stage that led to the crashing of the vehicle. The test signaled a "milestone" step forward as it represented the country's first ever high-altitude recovery flight by an orbital rocket rather than an experimental one, Executive President Zhao Ya of Deep Blue Aerospace, developer of Nebula-1, told the Global Times in an exclusive interview on Monday.

The key technical points verified during this test process totaled 11 items, including four items in the rocket's acceleration phase during takeoff, two in the deceleration ascent phase, one in the descent phase, two in the guided maneuver deceleration phase, and another two in the final landing deceleration phase, according to the company.

Except for the last node of the landing deceleration phase, which was not completed, the other 10 verification tasks proceeded smoothly and steadily, Zhao told the Global Times. "From the perspective of flying time, the Nebula-1 flew for 179 seconds, with issues arising only in the final 3.8 seconds," he said.

Zhao said the overall performance of this flight test has already exceeded their expectations, as the majority of the preset tasks was completed quite well.

The test was considered "a milestone event" for China's progress in the development of reusable rocket, as it is the first time that an orbital rocket, rather than experimental ones, is used.

Zhao explained that the design complexity of an orbital rocket's recovery is far greater than that of an experimental rocket, as experimental rockets normally weigh about 50 to 70 percent of the total, allowing for designs of redundancies and structural elements to improve the vehicle's stability, while the Nebula-1 orbital rocket's weight only accounted for 10 percent of the total.

The reduced structural weight allows more propellant to be fueled, so that it can travel farther into the preset orbit, a distance that experimental rockets cannot achieve, Zhao said.

Elaborating on the failure of the last stage, Zhao said that the Nebula-1 consumes approximately 60 kilograms of propellant each second, and as a result, the weight of the rocket was continuously changing over the 180 seconds of flight time, especially during the landing phase when the propellant is nearly depleted, leading to significant differences in weight and speed.

In the final 3.8 seconds, the thrust control mechanism failed to accurately track the decrease in thrust, and the actual thrust turned out higher than expected. This caused the rocket's speed to drop to zero when it was about 8 meters above the ground. If it continued, the rocket could have potentially reversed and taken off again, potentially bringing safety risks. Therefore, a shutdown command was triggered to ensure safety, Zhao said.

"Our current assessments suggest that the cause of this failure lie in the aging of engine. It has already been used for over 1,000 seconds," Zhao noted.

The company said in a statement on Monday that plans are already in place for another high-altitude vertical recovery test in November, building on the lessons learned from this initial attempt.

The Nebula-1 rocket is Deep Blue Aerospace's first commercial liquid rocket capable of reaching orbit and being reused. It serves as a crucial platform for breaking through and validating vertical recovery and reusability technologies for rockets. The Nebula-1 has a body diameter of 3.35 meters and a first stage height of approximately 21 meters. It is equipped with the Thunder-R liquid oxygen and kerosene engine, a reusable liquid rocket engine developed entirely in-house by Deep Blue Aerospace, with over 90 percent of its main structure made using high-temperature alloy 3D printing technology.

China's National Cultural Heritage Administration (NCHA) on Friday revealed major advancements at three archaeological sites, showcasing significant discoveries of history and culture from prehistoric period and the Xia Dynasty (c.2070BC-c.1600BC).
The Huangchaodun site is located in Quzhou, East China's Zhejiang Province. It is a settlement from the early to mid-Neolithic period, dating back approximately 9,300 to 8,000 years.

The site, covering an area of about 70,000 square meters, includes two platforms, a surrounding moat, and a rice paddy. Ancient river channels, ponds, and water ditches connecting the ponds to the settlement moat were also discovered.

The rice paddy, located east of the platforms and covering about 15,000 square meters, has revealed ridges and possible wooden remains, with the discovery of carbon-tempered pottery shards. Optically stimulated luminescence dating indicates that the rice paddy dates back to the Shangshan culture - recognized as the world's earliest rice cultivation culture, dating between 11,400 and 8,600 years ago - and extends into the early Neolithic Kuahuqiao culture period.

Lin Liugen, a professor from the School of Art and Archaeology of Zhejiang University, told the Global Times on Friday that the site is characterized by its "distinctive features and unique elements." It is one of the most well-preserved Shangshan-Kuahuqiao culture sites, offering a vivid snapshot of early rice farming communities within the lower Yangtze River region.

"Understanding the relationship between such a large-scale rice paddy field and the settlement is of great significance for studying the early agricultural development in ancient China 9,000 years ago and for recognizing the dietary structure of our ancestors at that time," he said.
The second project, the Caoyangang site in Xinghua, East China's Jiangsu Province, is a mid-Neolithic site, dating back about 7,200 to 6,900 years.

Covering more than 80,000 square meters, the site is covered by a natural sediment measuring nearly 2 meters thick. The unique low-lying wetland environment with waterlogged preservation has allowed for the excellent conservation of a large number of organic artifacts.

Over 200 features, including house sites, ash pits, ash ditches, and wells, have been discovered. In addition, more than 2,800 artifacts made of various materials, including pottery, bone, stone, wood, jade, and shells, have been unearthed. It is worthy to mention that the unearthed fire-drilling tools are the earliest known in China.

Gan Huiyuan, a research fellow at Jiangsu Provincial Institute of Cultural Relics and Archaeology, told the Global Times that the Caoyangang site is the earliest known Neolithic site in the eastern Jianghuai region, with a novel cultural aspect, rich connotations, and distinct regional characteristics, filling a gap in the Neolithic archaeology of the Jianghuai area, a region near the Yangtze River and Huaihe River.
The third unveiled Baliqiao site is located in Fangcheng county, Central China's Henan Province. It is a large enclosed settlement of the renowned Erlitou culture, which has been dated between 1700-1600BC.

The site, spanning approximately 1.35 million square meters, is bordered by moats on its north, west, and south sides, with a local river forming its eastern boundary. On the east bank of the Pan River, large-scale cultural remains from the same period have been uncovered. Sacrificial pits have been found around the main building of Site 1, with the discovery of ritual vessels, jade, and turquoise artifacts.

Wu Zhijiang, deputy research fellow of the Henan Provincial Institute of Cultural Heritage and Archaeology, told the Global Times that the Baliqiao site is the largest and highest-ranked Erlitou culture settlement discovered in southern Henan Province to date, and bears a close relation with the Erlitou Relics that can be traced back to 3,500 to 3,800 years ago in ancient China's late Xia or early Shang (1600-1046 BC) dynasties.

He noted that the preliminary revelations of the "multi-grid layout" and the discovery of significant remains such as large rammed earth buildings offer new insights into the morphology and social structure of urban settlements in Xia culture. These discoveries mark a significant breakthrough in the archaeology of Xia culture.

China's National Cultural Heritage Administration (NCHA) on Wednesday released a guideline on promoting high-quality development of archaeological research and education, marking a significant step forward in the preservation and promotion of cultural heritage across the whole nation. 

The guideline outlines five key points: adhering to the correct direction of archaeological research and education, opening up various archaeological resources, strengthening talent cultivation and curriculum development, ensuring the safety and order of research and education activities, and enhancing support, incentives, and standardized guidance.

One of the most notable proposals is the call for the opening of various archaeological research and education resources. Provincial cultural heritage administrative departments are encouraged to establish and publish lists of venues available for archaeological research and education. This includes archaeological site parks, site museums, archaeological research institutes, archaeological specimen storage rooms, and archaeological sites, all of which are expected to conduct archaeological research and education activities in a standardized and orderly manner.

Officials from the NCHA have indicated that through archaeological research and education activities, participants can engage in multiple experiences within archaeological institutions and venues. This approach is an effective means of understanding and comprehending the history of ancient China and Chinese civilization, which is beneficial for the inheritance and promotion of China's fine traditional culture and for nurturing the public's scientific literacy and humanistic spirit.

From archaeological site parks, museums, archaeological workstations to excavation sites, in recent years, various regions in China have introduced distinctive research and education products and services. The effective transformation of archaeological findings has provided the public with deep experiences and practical education opportunities.

NCHA has highlighted several exemplary cases, including one project launched by the Chongqing Cultural Relics and Archaeology Research Institute. 

Students participating in the program are tasked with completing three missions. They need to act as treasure hunters to retrieve important clues from a "band of thieves," decoding Morse code under the guidance of a mentor to gather information on cultural relics. Then the students need to learn about the protection of cultural relics, experiencing the restoration and conservation of relics through methods such as piecing and adhering fragments together. In the end, under the guidance of mentors, the youth will also learn about precious cultural relics unearthed in the Bashu region dating to different periods such as the Western Zhou Dynasty (1046BC-771BC) and Tang Dynasty (618-907). They will gain insight into the restoration and display of ancient tombs, as well as the evolution of tomb burials and related knowledge from ancient times to the present.

Fan Lili from the institute told the Global Times on Thursday that the Chongqing Archaeological Research and Education Base, relying on the archaeological field resources of the Chongqing Cultural Relics and Archaeology Research Institute, has developed a series of research and education programs suitable for all age groups. 

Since it began official operations on September 29, 2022, the base has carried out more than 200 public archaeology, research and education activities, hosting over 80,000 participants. The immersive theater has held more than 500 performances, reaching an audience of nearly 20,000 people, she said.

The Beijing Archaeological Research Institute （BARI） has also been an active participator in the field of archaeological research and education. This summer, it conducted the Liulihe Summer Field School, where four international students from the US engaged in archaeological research and education activities at the Liulihe relic site in Beijing's Fangshan district for over a month. They diligently learned the theories and practical methods of Chinese archaeology.

The Liulihe relic site is considered to be the capital of the Yan kingdom during the Western Zhou Dynasty. The site contains rammed earth city walls, remains and burial areas. A history of more than 3,000 years makes the site the earliest traceable source of urban civilization in Beijing.

Wang Jing, a research fellow from BARI who participated in the project, told the Global Times on Thursday that the four US students are majoring in archaeology, anthropology and museology. They show strong interest in Chinese archaeology and they will be able to make good use of what they learned and to carry on cooperation with Chinese partners.

Wang said carrying on such archaeological research and education activities is also beneficial for introducing Chinese experience in archaeology to other countries and fostering international talents in archaeology. She added that the international project in archaeology will continue to be held in the next few years.

A performance by dancers of the National Ballet of China closed the two-month-long Open Door to Art summer festival in Beijing's Forbidden City Concert Hall (FCCH) on Saturday night. 

According to Liu Qi from the National Ballet of China, the performance for young children included selections from the classic ballets The Four Little Swans and modern ballet pieces like On the Road and Song of the Wilderness. 

The Open Door to Art summer festival has been held each summer for the past 31 years. According to Xu Jian from the Beijing Poly Forbidden City Theatre Management Company, the summer festival has built a platform for audiences to experience the art of Beijing performed by the country's national-level art troupes and international artists as well. 

The year 2024's festival also hosted artistic tours to Beijing, its neighboring Tianjin Municipality and Hebei Province with a variety of visiting and art experiences.

Editor's Note:

"I'm a foreigner, but I don't feel foreign!" In China, there's a group of foreigners who don't feel foreign at all – they eat Chinese food, speak Putonghua, read ancient poetry, and practice Tai Chi, embodying the essence of Chinese people. Their unique bond with China has led them to fall deeply in love with the country. Global Times' "Huanju Yitang" studio presents "Encountering China, Falling in Love with China" – a series of short videos showcasing foreigners who don't feel foreign, telling their vivid stories and authentically depicting the economic boom, societal transformation, and lush landscapes of a new era in China from a foreign perspective. Today, we offer the sixth episode: "Tunisian Student He Yingyue: Seeing vitality of Chinese modernization through a peach"

Beijing's Pinggu is known as the "land of peaches." As the largest local specialty of Pinggu, the peach industry continues to upgrade itself and empower rural revitalization. Future-oriented orchards, agricultural innovation zones, and live-streaming e-commerce demonstration areas... Tunisian student who goes by the Chinese name of He Yingyue experiences the vivid practice of Chinese modernization through the story of a peach. What are her insights? China and Africa are genuine, friendly brothers and demonstrate a model of solidarity and cooperation among developing countries. Advancing modernization is a shared dream for both China and Africa. As the 2024 Summit of the Forum on China-Africa Cooperation takes place in Beijing, what are He Yingyue's expectations for China-Africa cooperation?

A new exhibition on ancient Chinese clothing was held in German capital Berlin. The exhibition traces the history of Chinese clothing, highlighting how the Confucian core value of “ritual” is expressed in Chinese clothing culture.

Set to run until October 9, this exhibition on ancient Chinese clothing culture is part of the 2024 Confucius international cultural exchange series.

“Chinese clothing culture has evolved over different historical periods, forming a comprehensive system of development. It reflects the transmission of civilization and encapsulates historical moments,” said Sun Qinhang, director of the China Cultural Center in Berlin.

“We hope this exhibition serves as a bridge between the ancient and modern, East and West, fostering exchanges and enhancing mutual understanding between civilizations,” Sun noted.

The exhibition features a special selection of heirloom garments from the Confucius temple back in Qufu, Shandong Province. These ancient Ming Dynasty (1368-1644) outfits, renowned for their vibrant colors, exquisite craftsmanship, and unique designs, vividly showcase the splendor of Ming Dynasty clothing culture, while also deeply reflecting the lasting influence of Confucianism on social life.

During the live clothing display segment, models dressed in traditional Chinese attire brought the elegance of these ancient garments to life. As they gracefully walked through the exhibition hall, guests eagerly took photos with them, capturing the charm and beauty of the ancient clothing.

"This exhibition allows our German friends to experience up close the beauty and intricacy of ancient Chinese garments, as well as the Confucian values embodied in the clothing, enhancing their understanding and appreciation of Chinese culture," said Hua Jingang, the curator of the exhibition.

The opening ceremony also featured interactive activities and a display area for cultural and creative products related to intangible cultural heritage. Visitors could try on ancient Chinese Hanfu clothing and pose for photos and, under the guidance of heritage artisans, learn traditional crafts such as Lu Embroidery, fabric knotting, and rope art.

The 2024 China International Fair for Trade in Services (CIFTIS) concluded in Beijing on Monday, achieving some 1,000 practical outcomes in deals and investments, with more than 20 percent of its on-site exhibitors being international companies.

Multiple foreign-funded enterprises showcased their latest innovations at the expo, while expressing confidence in exploring the Chinese market.

The outcomes achieved during this year's CIFTIS include transactions and investments in fields such as construction, finance and business services. During the event, 56 sessions were held, including international cooperation project negotiation and promotion meetings, according to the organizer.

A total of 111 enterprises and institutions, including Fortune Global 500 companies and industry leaders, announced 219 achievements in the fields of digitalization, artificial intelligence, healthcare and more, an increase of 80 compared with the previous edition, Piao Xuedong, head of the Beijing Municipal Commerce Bureau, said at a press conference on Monday.

The fruitful results of the CIFTIS demonstrate China's firm determination to boost high-quality development through high-level opening-up, and these results reflect a broad, important consensus on deepening the global services industry and services trade cooperation, and reflect outstanding achievements in the innovative development of services trade, Wang Bo, an official of the Ministry of Commerce, said at the conference.

"This is our first time to participate in the CIFTIS and we had many conversations surrounding our environmental services and learning from the experts in attendance about the opportunities in providing ESG-related services," Frank Hammes, global CEO of Swiss air quality technology company IQAir, told the Global Times on the sidelines of the CIFTIS.

China is one of the most dynamic economies in the world. Intense competition among companies within China and a growing internal market has made China highly competitive in nearly every product category. As a foreign enterprise in China, this situation is both an opportunity and a challenge, Hammes said.

"China will continue to be an important part of our business," he said.

Jiang Lei, general manager of French pilot training center operator Simaero, noted the fast growth of the company's business amid China's continuous opening-up process.

"Our company provides training services for civil aviation pilots with a simulation cockpit, and our revenues and business scope have expanded at a great speed since the establishment of our first joint venture in China in 2021," Jiang told the Global Times.

"There is a long list of Chinese localities that we plan to expand our business cooperation with to meet the growing demand of China's fast-growing civil aviation industry."

China's National Development and Reform Commission, the country's top economic planner, recently issued the 2024 negative list for foreign investment access, with restrictions on foreign investment in the manufacturing sector to be completely lifted, in a latest effort to promote wider opening-up to the outside world.