Asian Exim Banks Forum annual meeting opens in Shanghai

The 29th Asian Exim Banks Forum annual meeting opened in Shanghai on Wednesday, with delegates focusing on strengthening regional cooperation and promoting global economic integration.

Hosted by the Export-Import Bank of China, the event brought together representatives from 13 export credit agencies, including those from Japan, South Korea, Thailand, and Indonesia, along with multilateral financial institutions such as the Asian Development Bank (ADB) and the New Development Bank (NDB).

Participants called for enhanced communication and collaboration among forum members, the promotion of the green transition, the unleashing of the digital economy and a deepening of supply chain cooperation to ensure the steady and sustainable development of the regional economy.

China's key role in driving global trade and regional growth was also highlighted during the forum.

"China is the lead trading partner for over 140 countries in the world. China has contributed immensely to global and regional supply chains. So I think China continues to play a very, very lead role, not just in trade, but also in expanding trade finance around the region," said Safdar Parvez, ADB's country director for China.

"We can see the good development of Chinese economy and export potential growing of for China.The main purpose of the NDB was to develop sustainable infrastructure project in the member country. And we have one specific goal in our mandate to support multilateral cooperation in between BRICS member countries," said Vladimir Kazbekov, vice president and COO of NDB.

According to statistics, the total trade volume of the member countries of the Asian Exim Banks Forum accounted for about 27 percent of the world trade in 2023.

Participants advocated for increased financial support, exploration of new areas of cooperation, and a collective effort to drive Asia's development and sustainable growth.

Wang Chunying, president of the Export-Import Bank of China, emphasized the importance of collaboration.

"The huge achievements in Asian economic development are inseparable from the joint efforts of the Asian Exim Banks Forum members. We should continue to strengthen unity and cooperation, work together to address risks and challenges, and jointly promote the prosperity and development of the Asian and global economies," she said.

Asian Exim Banks Forum annual meeting opens in Shanghai

Asian Exim Banks Forum annual meeting opens in Shanghai

Asian Exim Banks Forum annual meeting opens in Shanghai

Asian Exim Banks Forum annual meeting opens in Shanghai

Asian Exim Banks Forum annual meeting opens in Shanghai

The 15th China International Aviation and Aerospace Exhibition, which opened Tuesday in Zhuhai City of south China's Guangdong Province, showcases several advanced liquid-propellant rocket engines that promise to shape the future of space exploration.

Among the highlights is an 80-ton reusable liquid oxygen-methane engine, which stands out for its economic viability and potential for extensive application in reusable rocket designs. The efficiency of methane positions this engine as a pivotal component for future space missions.

"This engine's most significant feature is its complete reusability, with a capability of at least 50 uses. It has successfully gone through various development tests and is now ready for flight," said Song Dekun from China Aerospace Science and Technology Corporation.

The 80-ton liquid oxygen-methane engine is tailored for the burgeoning commercial space market, offering substantial thrust while being engineered for reusability. Next to it, another engine designed for commercial space endeavors is on display - a high-altitude engine utilizing liquid oxygen and kerosene as fuel.

"It has a thrust of 72 tons and will be used in the rocket's second stage. The first stage carries the rocket to altitudes of 50 to 60 kilometers, and the second stage operates from there up to 200 kilometers and even into low Earth orbit, where it must ignite in near-vacuum conditions, requiring precise ignition capabilities," said Liu Shang from China Aerospace Science and Technology Corporation.

Liu added that this engine is delivery-ready and is projected to undertake its inaugural flight in 2025, further solidifying China's position in the global aerospace landscape.

Popularly known as the Zhuhai Airshow, the premier aviation event has attracted 1,022 companies from 47 countries and regions this year, with Russia, France, the United States, Saudi Arabia and Italy participating in the air show in groups. The airshow is scheduled to last through Sunday.

Cutting-edge liquid-propellant rocket engines at Zhuhai Airshow to benefit future space travel