China’s core AI industry to exceed 145 bln USD by 2030: report

The value of China’s core Artificial Intelligence (AI) industries could exceed 1 trillion yuan (145.47 billion U.S. dollars) by 2030, with that of AI-enabled industries more than 10 trillion yuan, a latest report by Bloomberg Intelligence (BI) said.

Titled “China’s great tech leap forward”, the report said that China’s push to commercialise AI technologies, supported by the rollout of the world’s biggest 5G network, could position the country as a global leader for technology and innovation.

“Based on the growth trajectory in the past decade, China may overtake the U.S. in global technology-patents share by 2025,” said the report. AI-related industries may exceed 6 percent of China’s GDP by 2030, according to the report. In the report, BI analysts said the country’s abundance of data may fuel the acceleration of the industry.

China’s breakneck pace of consumer-lifestyle digitisation potentially gives researchers unique access to Chinese-language data generated by its 1.4 billion people as they go about their daily activities both online and offline.

Vey-Sern Ling, senior industry analyst at Bloomberg intelligence, said China may overtake global peers in the commercialisation of AI technologies, as large amount of capital is likely to continue pouring into the industry.

According to Tsinghua University, private funding for Chinese AI-related companies in 2017 totalled 27.7 billion dollars, equivalent to 70 percent of global investments in the industry. Data showed China’s cumulative venture-capital investments in AI startups had already caught up with the United States by 2016.

Ling, also the lead analyst of the report, said the top-down support is an important factor apart from the multi-faceted user data and the funding available in China to the industry’s fast development.

“I don’t think anywhere else in the world you have the government so strongly behind, identifying the technology pillar and bearing full weight,” said Ling.

He added that China’s potential dominance in AI by 2030 may be led by developments in transportation, corporate services, health care and finance.

 

– Xinhua

 

 

Magashule applauds success stories of BRICS countries on agrarian revolution

ANC secretary-general Ace Magashule in his closing address at the BRICS political parties plus dialogue applauded the land reform process mainly land expropriation without compensation, as recently passed by the South African government.

According to Magashule, the African National congress (ANC) is committed to tackle inequalities in South African society. “ Some of the magnificent and successful stories of the Brics countries on agrarian revolution is a testimony to the strategic objectives we want to achieve,” Magashule said.

The secretary-general said that the Freedom Charter contains a very important message, one of land redistribution.  The Freedom Charter was the statement of core principles of the South African Congress Alliance, which consisted of the African National Congress (ANC) and its allies – the South African Indian Congress, the South African Congress of Democrats and the Coloured People’s Congress.

The political dialogue closed up deliberations with an adoption of a 25 point plan, titled the Tshwane 2018 Communique on Addressing Inclusive Economic Development Growth, Peace and Stability, Multilateralism and the Fourth Industrial Revolution.

 

Source: The Citizen

African National Congress secretary-general Ace Magashule concluding remarks – BRICS Political dialogue

Political Parties from Brazil, Russia, India and China gathered in South Africa, Pretoria for three days and concluded their meeting on Thursday. On the main agenda, closer cooperation and peace. The political dialogue had in attendance over 200 delegates.

“As the BRICS community of nations, we choose to cooperate with one another rather than to engage in confrontation. We strive for peace and friendship, to maintain world peace and the settlement of all international disputes by negotiations and not by war,” African National Congress secretary-general Ace Magashule concluded at the summit.

“Our understanding of globalisation is that it is a social process, and not a natural phenomenon. Therefore in this process of globalisation we are actors and participants in the shaping, or the reshaping, of a social phenomenon.

We can therefore not be dictated to by one actor in this dominant hostile realities of the world of capitalism. This is where people to people relations become critical as an instrument of nation building and formation.”

“We have said that international agreements arrived at must be honoured because the rule of law is paramount for international stability. The reform of institutions of global governance, from the United Nations Security Council, to the International Monetary Fund and the World Bank, is long overdue and if achieved will galvanise justice and fairness in the way global governance is managed,” said Magashule.

“For us shared global prosperity means that the international system must be geared towards achieving inclusive growth and development. It must be an inclusive process by all of the world nation states.”

“We reject the idea that countries must pursue their self-interests at the cost and to the detriment of our shared prosperity,” he said.

Source:  IOL

 

Twenty years of diplomatic relations between China and South Africa a major contributor to local economic and social transformation

South Africa-China Economic and Trade Association (SACETA) hosted Chinese and South African delegates for the official release of the 2018 Corporate Social Responsibility Report of Chinese-Funded Enterprises in South Africa.

At the launch event, Chairman of the Association and General Manager of China Construction Bank Corporation, Zhang Jinguo shared that the report depicts the on-going cohesion between China and South Africa, which entails job creation, social responsibility, local manufacturing, and the preservation of wildlife and natural reserve protection.

Publishing a report of this nature for the first time in South Africa is a massive achievement for the 130 Chinese-funded enterprises that contributes to economic development and livelihood in South African communities. The report highlights how much has been done and also sparks creativity for further bilateral trade and corporate social responsibility. “The report is a window. When you open the book, you open the window. It serves as a good model for SACETA members,” Jinguao said.

Chinese Ambassador in South Africa, HE Lin Songtian, said that the 2018 Corporate Social Responsibility Report of Chinese-Funded Enterprises in South Africa is a showcase of how Chinese enterprises implement the common values of friendship and justice that exists between the two countries. China has been SA’s biggest trade partner for 9 years and bilateral trade for the first quarter of 2018 amounted to 33.2 billion USD.

There are many factors that point to a mutually beneficial commitment. The Forum on China-Africa Cooperation (FOCAC) took place in Beijing this year, while South Africa hosted the 10th annual BRICS Summit. Furthermore, China’s top 5 financial institutions have branches in South Africa.

Songtian believes that the two countries are in a season of embracing new historic opportunities, with special consideration of President Cyril Ramaphosa’s vision for South Africa to attract domestic and foreign investment. The Chinese sentiment maintains that this is indeed a win-win cooperation.

Going forward, Dr Miriam Altman, Commissioner of National Planning Commission believes that the National Development Plan 2030 (NDP) relies heavily on the existing Africa-China relationship. “We need to seek more balanced trade, increase tourism prospects, and give fair attention to education and skills training, not forsaking deeper cooperation in innovation,” Altman concluded.

 

 

Issued by: Brand South Africa

SA President warns BRICS Governing Parties of nationalism

South Africa’s President Cyril Ramaphosa warned BRICS governing parties gathered at the Sheraton Hotel in Pretoria of the dangers of nationalism. This he did on Tuesday in the opening of the BRICS (Brazil, Russia, India, China and South Africa) political dialogue. Ramaphosa further said that BRICS should work towards multilateralism.

RELATED: ANC hosts governing parties from BRICS member states

“Notwithstanding our individual national interests, our presence here today confirms that we are indeed internationalist in outlook. We must be concerned about and seek actively to reverse the rise of narrow and extreme nationalism which is taking root in some parts of the world,” Ramaphosa said.

“What we ought never to forget regarding this is that when extreme nationalism rises, so does that potential for one country or a small group of countries to arrogate to themselves the right to determine the fate of the entire world.”

 

Source: African News Agency 

South Africa-China meeting on People to People Exchange

Image: 702.co.za

South Africa’s Minister of Arts and Culture, Nathi Mthethwa and China Vice Premier Su Chulan co-chaired a meeting on South Africa-China High-Level-People-to-People Exchange Mechanisms (PPEM). The meeting held on Monday was the second meeting since the launch of the PPEM a over a year ago.

China and South Africa bilateral relations have been fruitful and developed majorly since the launch of the PPEM, said Su. “China-South Africa relations are at a new historical starting point,” she said.

The China Vice Premier said that both countries should implement the reached agreements – boosting people-to-people exchanges and the expansion of  exchange of students studying in each other country.

She further said that China and South Africa should extend cooperation in constructing research centres in fields of mineral resources and forestry – “they should strengthen arts and culture cooperation”.

“The two sides should also promote cooperation in fields including media, sports, tourism, youth,women, think tanks and archives, make the results of people-to-people exchanges benefit the common people and work together to create a new era of China-South Africa relationship,said Su”, as reported by Xinhua .

South Africa’s Nathi Mthethwa acknowledged the development of the relations over the years. China and South Africa should give focus to PPEM in deepening cooperation in various fields in laying foundations for a strategic relationship, Mthethwa further said.

Source: Xinhuanet

BRICS: We recommit ourselves to the full implementation of the Paris Agreement

Argentina played host of the 2018 G20 summit – the meeting concluded on Saturday. Leaders of the fastest growing emerging economies, BRICS met for the first time since the election of Jair Bolsonaro as Brazil’s President on the sidelines of the G20.

The grouping’s leaders released a statement saying that they are recommit themselves to the full implementation of the Paris agreement.

The Paris Agreement is an agreement within the United Nations Framework Convention on Climate Change (UNFCCC), dealing with greenhouse-gas-emissions mitigation, adaptation, and finance, starting in the year 2020.

The statement was a response to Bolsonaro’s threat to quit to withdraw Brazil from the Paris Agreement.

The Brazil newly elected President has also failed to honour the promise to host the crucial UN Climate talks (COP25) in 2019. Bolsonaro abandoned the plans to host two months after the country agreed to host.

 

By: Kgothatso Nkanyane

China contributions to South Africa’s socio-economic development

Image: 702.co.za

China businesses contribute majorly to the development of the Republic of South Africa, this was confirmed by a “Corporate social responsibility Report of Chinese-Funded Enterprises in South Africa” report. The report was compiled by South Africa-China Economic and Trade Association.

The report that was presented on Thursday in Johannesburg highlighted the development of China-South Africa relations and the social transformation that is due to the bilateral relations.

The Association’s chair, Zhang Jinguo said that the report does not only make known the social development successes over the past 20 years  – it gives evidence of the growth of the China-South Africa relations.

The relations according to China Ambassador to South Africa, Lin Songtian, the relations have bore and fulfilled a great social responsibilities. South African communities benefited education and other social charities, said the Ambassador.

 

Source: China.org.cn

OPINION|BRICS Threat to Western Supremacy

China’s President Xi Jinping, Indian Prime Minister Narendra Modi, South Africa’s President Cyril Ramaphosa, Brazil’s President Michel Temer and Russia’s President Vladimir Putin pose for a group picture at the BRICS summit meeting in Johannesburg, South Africa, July 26, 2018. REUTERS/Mike Hutchings

The coalition of Brazil, Russia, India, China and South Africa continues to pose a threat to Western Supremacy – Brics has united to reject neoliberal models and created their own institutions. The grouping since 2013 have been signing declarations that are more than just usual petty collaborations and shared goals.

Brics in 2014 agreed to the creation of a development bank – Brics  Bank which was later renamed the New Development Bank (NDB). From its conceptual stages the bank received its fair share of skepticism from Western media.  Articles of the New Development Bank failing to live up to hype and analysis of the NDB in comparison to other development banks are easy to find. The institutionalisation of BRICS was viewed as not “viable and feasible”.

The NDB meant rivalry for West controlled financial institutions, IMF and the World Bank. Brics is empowering emerging economies by offering a wider range of economic choice. The groupings long term goal is to change global governance.

“Brics is gearing up for the future by planning to set up a credit rating firm to compete with western hegemony in the world of finances,” reports IOL.  

 

BY Kgothatso Nkanyane

BRICS Business Council Successes in a book

BRICS Business Council outgoing chairperson, Dr Iqbal Surve launched a book on the successes of the council on Wednesday night. The book according to Dr Iqbal, celebrates the progress of the Business Council since its establishment in 2013.

“Sometimes you forget what Brics means. Let me contextualise. We are here to serve our people, country and continent. I grew up with a social justice welfare framework and trying to see how we could lead and participate in the global economy. And so we serve with pride and pleasure, and do so with no expectations,” he said.

The book contains a five year history of the Council and according to the outgoing chair the reflection and documentation contained in the book  will move readers.

Iqbal thanked everyone who supported him and wished the next chairperson of the Business Council luck.

 

Source: The Star