Confidence in China market prevails during high-profile development forum

A prevailing sense of confidence in and optimism about China's market among global business leaders is seen during the China Development Forum (CDF) 2025 which is underway in Beijing. The two-day forum kicked off on Sunday in Beijing, bringing together over 100 representatives from major international organizations, global multinational corporations, and leading research institutions.

The event on Sunday morning featured an opening ceremony and a seminar on macroeconomic policies, with prominent attendees such as Apple CEO Tim Cook and Siemens Chairman Jim Hagemann Snabe.

While having a tea break between the forum sessions, many participants expressed their commitment to further investing in and expanding their presence in China.

"China is our largest market. We are very pleased with what the Chinese government is doing to allow continued business investment into the market. And we plan significant investments over the next five years, 2.1 billion yuan in manufacturing, in technology, in a new farm that we are opening in Sichuan Province, and then also in research and development," said Michael Nelson, chief executive officer (CEO) of American direct selling giant Amway Global.

Wu Haisheng, CEO of China's leading credit-tech platform Qifu Technology, emphasized the transformative potential of artificial intelligence (AI) in driving economic growth.

"This AI wave we are witnessing is going to lead the fourth industrial revolution that is most likely to make more economic contribution than any previous revolution. Instead of just reaping benefits from this wave of technology, we as businesses should also actively participate in the process by investing more resources and fostering innovation to promote AI-driven industrial upgrades," Wu noted.

Notably, U.S. companies account for the largest number of participants by country, and the forum sees a record number of first-time attendees from multinational corporations.

The China Development Forum, sponsored by the Development Research Center of the State Council and organized by the China Development Research Foundation, has become a key platform for dialog and cooperation between China and the rest of the world since its inception in 2000.

Confidence in China market prevails during high-profile development forum

Russia and the United States have agreed to ensure the implementation of the Black Sea Initiative, provided that sanctions were eased on Russia's agricultural and food trade, the Kremlin said Tuesday.

The Kremlin said the agreement includes ensuring the safety of navigation in the Black Sea, the non-use of force, and preventing commercial ships from being used for military purposes, with inspections in place to enforce this.

It also added that the United States will help in restoring Russia's access to global markets for agricultural and fertilizer exports, lowering shipping insurance costs, and improving access to ports and international payment systems.

The agreement will enter into force after a series of sanctions and restrictions related to its agricultural and food trade were lifted, the Kremlin noted.

The move would include lifting Western sanctions on the Russian Agricultural Bank, which services agricultural businesses, and reconnecting the bank to the SWIFT international messaging system.

Russia has also listed in the conditions the removal of restrictions on its food and fertilizer producers and exporters, on the servicing of related Russian-flagged vessels in ports, and on the related agricultural machinery supplies to Russia.

The Kremlin statement came after Russian and U.S. representatives wrapped up their Monday's talks in Riyadh, capital of Saudi Arabia, where both sides sought arrangements for the safety of navigation in the Black Sea.

Russia and Ukraine signed separately with Türkiye and the United Nations the Black Sea Grain Initiative in Istanbul in July 2022, which secured the export of Ukrainian grain and other agricultural products from Black Sea ports.

As a parallel agreement, Russia and the UN signed a memorandum of understanding on the facilitation of Russian food and fertilizer exports.

On July 17, 2023, Russia suspended its participation in the Black Sea deal, citing unfulfilled commitments to the Russian part.

Kremlin says Russia, U.S. agree to ensure implementing Black Sea initiative