Indonesia and Cambodia further strengthen energy cooperation

In recent years, energy and mining cooperation between Indonesia and Cambodia has shown a significant strengthening trend. In a recent meeting, Indonesian Ambassador to Cambodia Santo Damosumato and Cambodian Minister of Mines and Energy Gauradana discussed the prospects of cooperation in depth. Ambassador Santo clearly expressed Indonesia’s firm support for the development of renewable energy in Cambodia, especially in the fields of hydropower and solar energy. Both parties agreed that cooperation between Indonesia and Cambodia in the field of new and renewable energy not only contains huge development potential, but is also an important practice for both countries to jointly respond to the challenges of global climate change and commit to reducing carbon emissions. The two sides also reiterated their determination to strengthen mining cooperation, aiming to promote the sustainable development of the two countries' economies through this cooperation. This consensus reflects the broad consensus and common desire of Indonesia and Cambodia to deepen cooperation in the fields of energy and minerals.Editor/Zhang Liyuan

Serbia and EU sign memorandum of understanding on raw material cooperation

Recently, Serbia and the European Union signed an important memorandum of understanding, which not only marks a further deepening of economic cooperation between the two sides, but also foreshadows extensive cooperation in sustainable raw materials, battery value chains, and electric vehicles. According to the agreement, the EU will be allowed to purchase raw materials extracted from Serbia, injecting new impetus into Serbia's mining development. Especially the Jadar lithium mine in western Serbia, which is considered to be the largest lithium mine in Europe, the re acquisition of its mining rights undoubtedly became a highlight of this cooperation. Rio Tinto and other mining giants have shown strong interest in developing the Jadar lithium mine, not only because lithium is a key raw material for electric vehicles and renewable energy technologies, but also because the mine has huge potential output value and is expected to make significant contributions to Serbia's economic growth. Schultz emphasized that Europe needs to reduce its external dependence and establish resilient supply chains, and Serbia will become an important partner for Europe in this regard. Through deep cooperation across the entire supply chain from lithium mining to electric vehicle manufacturing, Europe will be able to more effectively address the challenges of the global market. Editor/Zhou Yingwen

Debugging of Twin Towers and One Unit Solar Thermal Energy Storage Power Station

Recently, Guazhou County in Jiuquan City, Gansu Province, has made significant progress in the field of energy technology - the world's first innovative "twin tower one machine" solar thermal energy storage power station. Its core project has officially entered the commissioning stage and is expected to achieve grid connected power generation by the end of 2024. As the core highlight of the 700000 kilowatt "solar thermal energy storage+" comprehensive project built by Three Gorges Hengji Energy in Guazhou, its uniqueness lies in the revolutionary dual tower and dual mirror field architecture design. Compared with traditional single tower and single unit solar thermal energy storage systems, this innovative design significantly enhances the efficiency of the absorption tower in capturing and converting solar energy. It is estimated that under the same conditions, its optical efficiency can be improved by about 24%, directly promoting a leap in power generation efficiency. In addition, the power station also integrates an advanced 6-hour molten salt thermal storage system, which not only has ultra long thermal storage capacity to ensure stable power supply even in low sunlight conditions, but also responds quickly, with stable and reliable output power, greatly optimizing the peak shaving ability of the power grid and demonstrating more outstanding energy management performance. Editor/Zhou Yingwen

Kazakhstan expects natural gas production to grow by 2.3% in 2024

On July 16, 2024, Alma Saddam Satkaliyev, Minister of Energy of Kazakhstan, revealed that the Ministry of Energy of Kazakhstan is committed to increasing natural gas production in 2024 to a new height of 60.5 billion cubic meters, in line with 2023 Production will achieve a solid growth of 2.3% year-on-year. Satkaliyev emphasized that significant and steady progress has been made in the field of natural gas production in recent years. In the first half of 2024 alone, the country has successfully extracted 30 billion cubic meters of natural gas, fully demonstrating the strong momentum of its energy industry. He pointed out that in order to achieve the annual production increase target, the driving force for growth will mainly come from large oil and gas fields such as Karachaganak, Tengiz and Kashagan. These resource-rich areas will become the key force to promote the continued rise of Kazakhstan's natural gas production.Editor/Zhang Liyuan

The 'lighthouse factory' in the Yangtze River Delta reflects industrial vitality

At the Shanghai factory of a multinational corporation, the relocation of mouthwash products is quietly underway. After switching lines, a non-alcoholic cherry blossom peach flavored mouthwash quickly went offline and was ultimately proven to be more in line with the preferences of Chinese consumers. Behind this seemingly simple product line change, it reflects the efforts made by digital means to stimulate the vitality of the value chain, which is also one of the reasons why "Ke Xiang Shanghai" was selected as the "Lighthouse Factory". The so-called "lighthouse factory" is a factory selected by the Davos World Economic Forum in collaboration with management consulting firm McKinsey, and is defined as a demonstration of "digital manufacturing" and "globalization 4.0". It represents the highest level of intelligent manufacturing and digitization in the global manufacturing industry, and is also known as the "most advanced factory in the world". At present, a group of "lighthouse factories" are gathering in the Yangtze River Delta region, releasing vitality. Editor/Zhou Yingwen

Serbia plans to develop civilian nuclear energy project

On July 10, 2024, the Serbian Ministry of Energy and Mineral Resources, together with four other ministries and 20 entities including energy companies, research institutions and universities, signed a memorandum of understanding on nuclear energy cooperation and development. The Serbian government pointed out that the purpose of this agreement is to promote the establishment of a team of domestic and foreign experts to focus on the feasibility of conducting civil nuclear energy projects in Serbia. The expert team will be responsible for preparing a preliminary technical study report, conducting an in-depth comparative analysis of different existing technologies, explaining their respective advantages and disadvantages, and detailing the technical, economic and market parameters involved in building a nuclear power plant in Serbia. Although Serbia currently has no nuclear power plants, its comprehensive energy and climate plan and energy development strategy have prospectively considered the introduction of nuclear energy as an energy option after 2040.Editor/Zhang Liyuan

China Energy Engineering Corporation announces Pakistan energy plan

China Energy Construction has been active in Pakistan. Its largest overseas hydropower station, the Sujjinari Hydropower Station, is about to be put into operation. The project has a total investment of US$1.96 billion and an installed capacity of 884MW. It is the largest greenfield hydropower investment project of Chinese companies abroad. At the same time, China Energy Construction announced that it will significantly increase its investment in Pakistan's hydropower, renewable energy and transmission system projects, and is working with the Pakistani government to promote the financing of another major hydropower project, the Azad Pattan Hydropower Project. At present, the total value of China Energy Construction's participation in projects in Pakistan has reached US$13 billion, and it is responsible for 6,000MW of energy projects under construction. This investment plan is another commitment of China Energy Construction to expand its business layout in Pakistan and support Pakistan's energy construction.Editor/Zhang Liyuan

Six Spanish companies plan to jointly build the first hydrogen airport

On July 10, 2024, it was learned that six leading forces in the Spanish aviation field have joined hands to reach a historic agreement to jointly explore and build the country's first hydrogen-powered airport hub. The alliance brings together top manufacturer Airbus, authoritative airport management agency Aena, well-known airlines Nostrum and Spanish airline Iberia, leading fuel distribution company Exolum, and energy giant Repsol. They jointly address the multiple challenges faced in promoting hydrogen-powered aviation in Spain. This cooperation framework not only outlines a comprehensive plan for hydrogen-powered aircraft from concept to actual operation, but also explores in depth how to seamlessly integrate these innovative aircraft into the daily operations of airports. This includes but is not limited to a stable supply system for hydrogen energy, the construction of necessary infrastructure, and special optimization needs for airport ground operations to ensure the efficiency, safety and sustainable development of the entire ecosystem.Editor/Zhang Liyuan

Turkistan State of Kazakhstan and Shaanxi Biochemical Cooperation

Recently, Satybald Darhan, Governor of Turkestan State of Kazakhstan, led a delegation to visit Shaanxi Province, China. During the visit, Satybald met with Zhao Yide, Secretary of the CPC Shaanxi Provincial Committee, and the two sides jointly signed a memorandum of friendly exchanges and cooperation. In the memorandum of cooperation, the two sides expressed their desire to strengthen local mutual understanding and brotherhood and carry out effective cooperation. According to the memorandum, the two sides will carry out various exchanges and cooperation in many fields such as economy and trade, agriculture, science and technology, culture, logistics, infrastructure, new energy vehicles and education and training to promote common development. Editor/Zhao E

Cambodia approves 190 investment projects in first half of 2024

In the first six months of 2024, the Development Council of Cambodia has actively promoted economic vitality and approved a total of 190 new and expansion reinvestment plans. The total investment scale of these projects exceeded the US$3.2 billion mark, indicating strong economic growth. momentum. This series of measures is expected to bring significant positive effects to the local labor market in Cambodia, and is expected to create more than 168,000 new jobs, provide abundant employment opportunities for local people, and contribute to comprehensive social and economic development. Editor/Zhao E

Envision Power starts construction of its third battery factory in Europe

On July 8, 2024, the Spanish city of Navalmora de la Mata welcomed the groundbreaking ceremony of Envision Power's new battery super factory. The factory focuses on the research and development and production of lithium iron phosphate battery technology and is expected to be officially put into production in 2026, marking the birth of Europe's first lithium iron phosphate battery super factory. As part of the first zero-carbon industrial park on the European continent, the factory is committed to producing battery products with zero carbon footprint and promoting the green energy revolution.Editor/Zhang Liyuan

Petrochina to build 400MW wind power project in Kazakhstan

On July 6, 2024, it was learned that during the high-level visit, China National Petroleum Corporation and the Ministry of Energy of Kazakhstan reached an important achievement, namely, the signing of a framework agreement to deepen cooperation on strategic projects in the energy field. The signing of this agreement marks the further deepening and expansion of the energy cooperation between the two sides. China National Petroleum Corporation also successfully joined hands with Samruk-Kazyna National Welfare Fund Joint Stock Company to jointly sign a framework agreement on the joint development of a 400MW renewable energy project, showing the positive willingness and practical actions of both parties to cooperate in the field of new energy. China National Petroleum Corporation and Kazakhstan National Oil and Gas Company also reached a consensus on deepening strategic cooperation in the oil and gas field, and signed a corresponding framework agreement, laying a solid foundation for the cooperation between the two sides in the exploration, development, processing and sales of oil and gas resources.Editor/Zhang Liyuan

China is willing to carry out solar cell cooperation with Tajikistan

On July 5, 2024, during his state visit to Tajikistan, President Xi Jinping published a signed article entitled "Creating a Bright Future for China-Tajikistan Relations" in Tajikistan's People's Daily and Khovar State News Agency. Both China and Tajikistan stand at an important historical node of national prosperity and rejuvenation. China is making every effort to promote high-quality development and in-depth opening up to the outside world, aiming to accelerate the realization of the grand goal of national prosperity and national rejuvenation through a unique Chinese-style modernization path. At the same time, Tajikistan is also actively implementing its national development strategy before 2030, showing strong development momentum and lofty ambitions. I look forward to having in-depth exchanges with President Rahmon through this visit, jointly planning a blueprint for cooperation between the two countries, and jointly elevating China-Tajikistan relations to a new level.Editor/Zhang Liyuan

Egypt, France, UAE join forces to advance hydrogen energy projects

On July 6, 2024, the Egyptian government cabinet announced that it had successfully signed an important agreement with a consortium consisting of EDF Renewables, a French power renewable energy company, and Zero Waste, a zero-waste company jointly established by Egypt and the United Arab Emirates. The agreement aims to promote an ambitious green hydrogen energy and its derivatives, including green ammonia production project, in the Ras Shukair area on the Red Sea coast. According to the cabinet's statement, this cooperation project will be implemented in stages with a total investment of up to 7 billion euros, demonstrating the firm commitment of all parties to the future development of green energy. Among them, 2 billion euros will be invested in the first phase, with the goal of achieving an annual production capacity of 1 million tons of green ammonia in the initial stage, marking a solid step towards commercialization and scale of the project.Editor/Zhang Liyuan

China, Russia, and Mongolia hold trilateral foreign ministers' consultations

On July 3, 2024, Wang Yi, member of the Politburo of the Communist Party of China Central Committee and Minister of Foreign Affairs, presided over the trilateral foreign ministers' consultations between China, Russia, and Mongolia in Astana, and jointly discussed trilateral cooperation matters with Russian Foreign Minister Lavrov and Mongolian Foreign Minister Batzezege. Wang Yi said that China, Russia, and Mongolia are permanent neighbors who share weal and woe, and partners with a shared destiny. Trilateral mutually beneficial cooperation has inherent geographical advantages and profound traditional accumulation, which is in line with the fundamental interests of the three peoples. In recent years, under the strategic guidance of the three heads of state, pragmatic cooperation between China, Russia, and Mongolia has steadily developed, exchanges and dialogues in various fields have deepened, and the construction of the China Mongolia Russia Economic Corridor has been solidly promoted. 2024 marks the 75th anniversary of the establishment of diplomatic relations between China and Russia, as well as the 10th anniversary of the establishment of the China Russia Mongolia mechanism. China is willing to work with Russia and Mongolia to adhere to the original intention of cooperation, anchor the correct direction, strengthen unity and cooperation, eliminate external interference, discuss effective paths for mutual benefit and win-win, jointly build a prosperous and stable regional pattern, and share the positive results of regional development. Editor/Zhou Yingwen

The number of China-Europe freight trains reached a new high of 2,899

In the first half of 2024, the East Passage of the China-Europe Freight train has achieved unprecedented traffic at the three railway ports of Manzhouli, Suifenhe and Tongjiang, with a cumulative number of 2,899 trains, an increase of 5.1% over the same period last year. At the same time, the total amount of cargo transported reached 304,000 TEU, also a significant increase of 3.4% year-on-year, which marks that the transport capacity and service efficiency of the East Passage of the China-Europe railway line have reached a new peak in the history of the same period. China Railway Harbin Bureau Group Co., Ltd. has achieved a new breakthrough in commercial vehicle transportation in Heilongjiang Province, and for the first time launched a commercial vehicle China-Europe train designed for JSQ models, which not only enrichedthe transportation types of China-Europe trains, but also marked the further widening of the logistics channel between Heilongjiang and Europe. At the same time, the company also successfully opened a new China-Europe train line directly to the Netherlands, providing a more convenient and efficient international logistics channel for the export of commercial vehicles in Heilongjiang and even the whole country.Editor/Zhang Liyuan

China Harbour Group won the Saudi Arabia Terminal Project

Recently, the Saudi NEOM New City Development Company announced the award results. The consortium formed by China Harbour, Saudi Saif Engineering, and Egypt Hassan Alam Engineering Company won the bid for the construction of the 1st terminal of the floating industrial city port under the new city. The project mainly includes a terminal, multiple construction projects and infrastructure construction, and the project contract value is about US$1 billion. This cooperation not only demonstrates the deep friendship and close cooperation between China and Saudi Arabia in the field of infrastructure construction, but also reflects the competitiveness and execution of Chinese companies in large-scale overseas engineering projects.Editor/Zhao E

China-Central Asia green energy cooperation has great potential

As China and Central Asian countries continue to deepen their cooperation in the field of green energy, a number of iconic cooperation projects have successfully taken root and borne fruit. At the 8th China-Eurasia Expo, which was recently held in Urumqi, the capital of Xinjiang Uygur Autonomous Region, leading Chinese companies such as Goldwind Technology Co., Ltd. competed to showcase innovative wind power technology products tailored for the unique geographical environment of Central Asia, demonstrating the adaptability and innovation capabilities of China's green energy technology. Chinese companies actively support the construction of new energy in Central Asia and cooperate with many countries to promote low-carbon transformation. At the Eurasia Expo, energy companies demonstrated highly adaptable power generation models and transmission equipment to provide efficient solutions for green power transmission.Editor/Zhang Liyuan

China Southern Power Grid strengthens energy and power cooperation with Peru

China Southern Power Grid successfully acquired Peruvian energy and power-related enterprises, setting a record for the largest distribution asset acquisition by Chinese companies in Peru, marking a new milestone in China-Peru energy and power cooperation. The company plans to build this cooperation project into a model of international power cooperation, serve Peru's economic and social development, and promote energy transformation in Latin American countries. China and Peru have close economic and trade relations, and China is Peru's main trading partner and import and export market. With the 2024 APEC Leaders' Informal Meeting held in Peru, the successful acquisition and stable operation of Peruvian power companies by China Southern Power Grid has become a key step for Chinese companies to promote the deepening and expansion of the Belt and Road Initiative in Peru with high quality.Editor/Zhang Liyuan

Uzbekistan will build two photovoltaic power plants

On June 20, 2024, Fabulous Sunview, a subsidiary of Malaysia's Sunview Group, successfully signed a cooperation agreement with the Ministry of Energy of Ukraine for the construction of two large-scale photovoltaic power stations equipped with advanced energy storage systems in the country. The company also plans to join hands with Huawei to install rooftop photovoltaic systems on the office buildings of government agencies to achieve energy self-sufficiency and environmental sustainability. One of them, located in Andijan Oblast, has an installed capacity of 400MW and an energy storage system with a capacity of 100MW. The other, located in Fergana State, has an installed capacity of 200MW with a 50MW energy storage system. Fabulous Sunview and Huawei signed a cooperation agreement with Yahir Energy, a state-owned enterprise specially set up by Uzbekistan for rooftop PV projects, at the Shanghai International Solar PV and Smart Energy Conference. It is expected that the total installed capacity of rooftop PV will reach 50MW.Editor/Zhang Liyuan

The 12th meeting of the China Vietnam People's Forum was held

On June 26th, the 12th meeting of the China Vietnam People's Forum opened in Shaoshan, Hunan. Yang Wanming, President of the Chinese People's Association for Friendship with Foreign Countries, and Pan Yingshan, President of the Vietnam Friendship Organization Federation, attended the opening ceremony and delivered speeches. The China Vietnam People's Forum is a bilateral 1.5 track dialogue mechanism jointly initiated by the Chinese People's Association for Friendship with Foreign Countries and the Vietnam Federation of Friendship Organizations in 2010. It is held alternately between China and Vietnam, inviting experts and representatives from various fields to engage in dialogue and exchange. The aim is to communicate public opinion, gather common understanding, enhance mutual trust, serve the overall situation of China Vietnam relations, and provide suggestions and wisdom for the development of China Vietnam relations. So far, it has held 11 meetings, becoming an important platform for dialogue between the Chinese and Vietnamese people. This conference is jointly organized by the Chinese People's Association for Friendship with Foreign Countries and the Vietnam Federation of Friendship Organizations, and hosted by the Hunan Provincial Association for Friendship with Foreign Countries and the Xiangtan Municipal Party Committee and Government. Editor/Zhou Yingwen

India's Shree Cement photovoltaic installed capacity exceeds 1GW

On June 24, 2024, the new 19.5MW solar power plant at Shree Cement's plant in Andhra Pradesh, a major Indian cement manufacturer, was officially put into operation, bringing the company's renewable energy installed capacity to 1GW. Shree Cement has invested up to 40 billion rupees to expand its use of renewable energy. This renewable energy portfolio currently accounts for nearly half of its total installed capacity, demonstrating the company's firm commitment to sustainable development and environmental protection. Looking ahead, Shree Cement plans to invest approximately 10 billion rupees in capital expenditure in fiscal 2025 to continue expanding its renewable energy installed capacity.Editor/Zhang Liyuan

Li Qiang Meets with Vietnamese Prime Minister Pham Myung sung

Li Qiang stated that China and Vietnam have a deep friendship of "comrades and brothers". China is willing to work with Vietnam to further implement the important consensus of the highest leaders of both parties, promote the deepening and implementation of the construction of a community with a shared future between China and Vietnam, better benefit the people of both countries, and contribute to regional peace, stability, and development. Li Qiang pointed out that China is willing to work with Vietnam to adhere to and grasp the overall direction of promoting the construction of a community with a shared future between China and Vietnam, and always prioritize the development of bilateral relations in its own diplomacy. The two sides should make full use of their economic complementary advantages, take the implementation of the the Belt and Road and the two corridors and one circle strategy docking as the main line, constantly expand the scale of trade and investment, further strengthen connectivity, continue to create new growth points of cooperation in new energy, digital economy and other areas, and strive to achieve more cooperation results benefiting the two peoples. China is willing to deepen cultural exchanges with Vietnam in areas such as tourism, healthcare, education, and youth, and continuously consolidate the public opinion foundation of friendship between the two countries. Editor/Zhou Yingwen

Serbia launches preliminary studies for building nuclear power plant

Serbia's Ministry of Mining and Energy is actively seeking the assistance of consulting agencies to conduct an in-depth assessment of nuclear energy technologies currently on the market, especially small modular reactors (SMRs). Faced with the current situation of growing energy demand, strengthening the trend of economic electrification, increasing the proportion of renewable energy and reducing coal-fired power, the ministry emphasizes that nuclear energy should become an alternative energy source alongside hydropower and natural gas to provide Serbia with a stable and low-carbon electricity supply. To this end, they have released a procurement plan to conduct preliminary technical studies on the peaceful use of nuclear energy. Serbia plans to involve the scientific and academic communities widely, and the process is expected to be completed within 12 weeks. The country also intends to use the expertise and experience of the international nuclear energy community to provide strong support for the introduction of nuclear energy into the national energy structure. Currently, Serbia's Integrated National Energy and Climate Plan, which is being developed, has listed nuclear energy as a potential energy option, and plans to strengthen cross-institutional cooperation, promote knowledge exchange and human resources development by signing a memorandum of understanding.Editor/Zhang Liyuan

Iraq launches Chinese-funded oil field project

Recently, Iraq successfully launched a new natural gas processing project at the Halfaya oil field. This milestone event marks an important step for Iraq in the development of oil and gas resources. Iraqi Prime Minister Mohammed Shia Sultani personally launched the project. The Halfaya oil field is located in Maysan Province in southern Iraq, about 300 kilometers from the capital Baghdad, and is developed and managed by a consortium led by China National Petroleum Corporation. The oil field has an estimated reserve of 4.1 billion barrels. Through the implementation of the new project, the value of its associated natural gas will be fully reflected. Editor/Zhao E

Direct flights from Bishkek to Astana officially resumed

FlyArystan, a well-known airline in Kazakhstan, officially launched a direct flight from Astana to Bishkek on June 16, 2024, with a return route, which takes only 1 hour and 45 minutes. In order to meet the travel needs of the majority of passengers, the flight will be implemented twice a week, on Tuesdays and Sundays, providing passengers with a more convenient and efficient travel option.Editor/Zhang Liyuan

Blue Economy Becomes China Africa Economic and Trade Cooperation

The blue economy is a sustainable economic activity based on the development and utilization of marine resources, involving industries such as fisheries, shipping, tourism, natural resource development, and marine environmental protection. The development concept is to protect the marine ecosystem while developing marine resources to create wealth. Currently, the ocean has become an important area for countries to strive for greater resource development space, and the blue economy is thriving globally, increasingly becoming one of the new growth points for economies of various countries. African countries and China are indispensable promoters, participants, and contributors to the global blue economy. Both sides view the development of the blue economy as an important choice to achieve economic structural transformation and sustainable development. In the era of continuous development and growth of China Africa economic and trade cooperation, China and Africa should tap into the potential of blue economic cooperation and help it deepen and solidify. Editor/Zhou Yingwen

Small nuclear power plant planned in northeastern Norway

On June 19, 2024, Norwegian energy company Norsk Kjernekraft submitted a detailed planning document to the Norwegian Ministry of Energy, requesting an assessment of the potential for the construction of a nuclear power plant based on multiple small reactors (SMR) at the Svartnes site in Finnmark. In this report, the company analyzed in detail the feasibility of building and operating a nuclear power plant at the Svartnes site on the outskirts of Vardø, and promised to elaborate on all relevant issues in future impact assessment reports. Based on current information and investigations, the report preliminarily shows that the Svartnes site is a suitable location for the construction of a nuclear power plant.Editor/Zhang Liyuan

International Monetary Fund Shanghai Regional Launch

On June 19, 2024, the Shanghai Regional Center of the International Monetary Fund was officially launched at the Lujiazui Forum. Chen Jining, Secretary of the Shanghai Municipal Party Committee, Christina Georgieva, President of the International Monetary Fund, Pan Gongsheng, President of the People's Bank of China, and Gong Zheng, Mayor of Shanghai, jointly attended the launch ceremony. The Shanghai center is one of the regional centers established by the International Monetary Fund in the world. It aims to strengthen the exchange and cooperation between the International Monetary Fund and economies in the Asia Pacific region, carry out relevant research on emerging markets and middle-income countries, provide targeted capacity-building support for economies in the region, and maintain global and regional financial stability. Pan Gongsheng said that he welcomed the establishment of the International Monetary Fund's regional center in Shanghai center, and believed that the Shanghai Center would deepen the cooperation between the International Monetary Fund and China, enhance macroeconomic policy exchanges and coordination among countries in the Asia Pacific region, and promote the maintenance of global and regional financial stability. Kristalina Georgieva welcomed the important initiative of collaborating with the People's Bank of China to establish the Shanghai Regional Center. The center will further strengthen the work of the International Monetary Fund in the dynamic Asia Pacific region, which will facilitate the Fund's deeper understanding of member countries' perspectives and promote international economic cooperation. Editor/Zhou Yingwen

UAE plans to build first hydrogen energy equipment plant

On June 18, 2024, Broaden Energy of the UAE reached a preliminary cooperation intention with the Abu Dhabi Department of Economic Development, planning to invest up to 1 billion dirhams (equivalent to about 270 million US dollars) to establish a hydrogen energy equipment manufacturing center in the region. This move marks that Abu Dhabi will usher in its first hydrogen energy equipment manufacturing complex. It is expected that the completion of the project will greatly strengthen the UAE's energy infrastructure network. This facility will not only help Abu Dhabi achieve the ambitious goals of its industrial development strategy, but will also make important contributions to the prosperity and sustainability of the regional economy by promoting sustainable development and improving the industrial value chain.Editor/Zhang Liyuan