First World Conference of Classics opens in Beijing

The first World Conference of Classics opened in Beijing on Thursday, bringing together some 600 scholars from over 30 countries and regions to discuss how the wisdom of past civilizations can inspire and inform modern society.

Jointly sponsored by China and Greece, the conference themed on "Classical Civilizations and the Modern World" is scheduled from Wednesday to Friday. President Xi Jinping sent a congratulatory letter to the conference on the same day, encouraging the participating experts and scholars to embrace the responsibility of advancing classical studies, contribute to the preservation and development of civilizations, and enhance their exchange and mutual learning. "China is actively dedicated to pushing for the inheritance and development of civilizations, enhancing international cultural exchanges, and promoting global dialog, and pays attention to seeking wisdom and drawing nutrition from different civilizations," said Li Shulei, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and head of the Publicity Department of the CPC Central Committee.

China is ready to collaborate with all parties to carry out the Global Civilization Initiative, address various challenges confronting all mankind, and advance the progress of human civilization, Li said.

Participating scholars and experts spoke highly of China's efforts to fostering dialog between classical civilizations and taking the wisdom of the past to inform the future.

"Most universities these days are moving more towards the sciences. I understand that, I mean, clearly in the aftermath of the pandemic, for example, we do need biomedical sciences. For China, the world's largest nation to invest so much in dialog between different forms of classicism, I think it's a hugely important statement. I'm so excited and so pleased to be here and be a part of this," said Tim Whitmarsh, professor of department of classics, University of Cambridge and fellow of the British Academy.

"I'm really excited and proud to be a part of this wonderful conference that bridges two of the most ancient civilizations, the ancient Greek and the ancient Chinese. I believe that China is taking a step forward in order to do an innovation in the field of classics," said Eugenia Manolidou, director of Elliniki Agogi School of Athens.

"China is a cradle of ancient Asian civilizations. This is where it all began. In a world of turbulence, perhaps classics and perhaps the way China conducts the research on classics, is a way to find the lost stability on a global level as well," said Nikolaos Bourazelis, attorney with Athens Bar Association.

In studying the present in tandem with the past, the conference features forums revolving around classical wisdom and the age of digital intelligence as well as the future of humanity.

First World Conference of Classics opens in Beijing

China's revised rules on foreign investors' strategic investment in listed companies will come into effect on December 2, the Ministry of Commerce announced on Thursday.

The revised rules were jointly released on Nov 1 by six government departments, including the Ministry of Commerce and the China Securities Regulatory Commission, in a move to encourage foreign investors to make long-term and value investment in the country. The new rules allow foreign natural persons to make strategic investment in listed companies, a change from the old rules that only allowed foreign legal persons or organizations to make such investments.

Capital requirement is also lowered under the new rules for foreign investors that do not become the controlling shareholders in listed firms. The latest capital requirement for them will be no less than 50 million U.S. dollars in total actual assets or no less than 300 million U.S. dollars in total managed actual assets.

The new rules add tender offers as an extra option to make strategic investment. In the past, the only available options were private placements and share transfer agreements.

"The new rules allow foreign natural persons to make strategic investments and will appropriately relax the requirements for foreign investors regarding their overseas assets. For cross-border share swaps conducted through the options of private placements or tender offers, investors will be allowed to use shares of non-listed overseas companies as consideration shares for acquisition payment. The ratio requirements for the options of share transfer agreements and tender offers will be lowered to 5 percent from the previous 10 percent. The lock-up period for foreign investors' acquired shares will be adjusted from no shorter than three years to no shorter than 12 months. Should the securities market introduce new requirements for the lock-up period in the future, compliance with new regulations will be necessary," He Yongqian, a spokeswoman of the Chinese Ministry of Commerce, said at a press briefing.

These new measures are expected to attract more high-quality foreign investment into listed companies and promote the healthy and stable development of related industries and China's capital market, said He.

New rules on easing foreign strategic investment in listed firms to take effect in December