JAKARTA, Indonesia, Dec. 11, 2023 /PRNewswire/ — Globally acclaimed, Indonesia’s No.1 coocaa TV successfully secured the Guinness World Record for "Most people unboxing online and in a single venue simultaneously" on November 24, 2023, alongside supporters from 8 countries. Amid the rigors of the challenge, coocaa TV exemplified superlative craftsmanship through a robust 60cm product drop test, accentuating a pivotal element attributing to its profound resonance in the Indonesian market——High Quality. Join coocaa in witnessing the brand’s new glory and miracles during the globally anticipated Double 12 promotion.

Special gifts for a special moment with cherished memories. To celebrate this remarkable Guinness World Record, coocaa presents 1,000 custom Guinness notebooks and 200 Guinness-themed coocaa mascot Cobby pillows to its esteemed consumers both online and offline. To enhance the celebration, more gifts such as Netflix memberships and game controllers will be offered. Every honor bestowed upon coocaa belongs to each and every consumer and supporter. All these perks are intended to express gratitude for the ongoing and unwavering following, choice, and support extended to coocaa. Join coocaa in making this December a memorable and festive experience together.

Indonesia’s No.1 coocaa TV Share Honors of Guinness World Record Achievement with Consumers in 12.12 Event

It’s time to unveil the flagship product from coocaa for the highly anticipated Double 12 promotion – the 50Y72 TV. It boasts cutting-edge voice control technology with impressive features like lightning-fast responsiveness, precise 90° voice pickup, and an outstanding 97% voice recognition rate, ensuring a seamless tech experience. But that’s not all – the TV goes beyond by prioritizing your eye health with Flicker-Free and Low Blue Light. It seamlessly integrates into your daily life, providing a perfect blend of advanced technology and eye-friendly design. What makes the 50Y72 TV even more exciting is its integration with Google TV products, elevating your entertainment experience to new heights. Now, consumers can enjoy the perfect combination of innovative technology, eye care benefits, and a TV that seamlessly fits into lifestyle. Get ready to experience the future of home entertainment! More please visite: https://www.instagram.com/coocaaindonesia/ 

The top-notch product with the best market feedback. coocaa’s No.1 sales perfectly reflect its popularity among TV consumers. Thanks to all the support and trust from users, coocaa is ready for even more success and cool innovations worldwide. With a dedicated emphasis on ensuring user satisfaction, coocaa is all set to keep leading the way in the world of TVs.

Source : Indonesia's No.1 coocaa TV Share Honors of Guinness World Record Achievement with Consumers in 12.12 Event

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VIEREMÄ, Finland, Dec. 11, 2023 /PRNewswire/ — The 20,000th PONSSE forest machine has been completed at Ponsse’s factory in Vieremä, Finland. After the celebration on 11 December, the PONSSE Bear harvester with PONSSE H8 harvester head will go to a Norwegian customer, Lågen Skogsdrift AS.

"It’s great to see that machine number 20,000 is coming to Norway and to a customer with whom we have good and long cooperation. Our market here in Norway is growing, and this year will be a new record year. The Bear harvester is an impressive machine – and now even more so with its new H8 harvester head. This contributes to our strength in the most demanding harvesting operations in Norway," says Carl-Henrik Hammar, Managing Director Ponsse AB and Ponsse AS

Lågen Skogsdrift AS entrepreneurs have decades of experience in forestry

Lågen Skogsdrift AS is owned by brothers Harald and Gunnar Evju. The company is in Svarstad in the south of Norway. The Lågen Skogsdrift AS operation area is Lågen valley and parts of Vestfold, Telemark and Buskerud Counties. Harald and Gunnar Evju operate in the forest one week and rest the next.

The brothers are long-term Ponsse customers – this is their eighth Ponsse machine. Harald bought his first Ponsse HS 15 in 1996. He already started working in the forest with a chainsaw in 1978, and his first harvester was a Logman, bought in 1993. In 2001, the brothers bought their first forest machine together. It was a PONSSE Ergo with 6 wheels and an H73 harvester head.

"Thank you for your trust from my side, too. We delivered the first PONSSE Bear harvester to Harald and Gunnar in January 2008, and this machine we are handing over today is their fifth PONSSE Bear," says Tom Sundby, Ponsse AS salesman, south and west Norway. "I think Harald could be the person in Norway who has cut the most timber in his working life. He has cut something between 1.1 and 1.2 million cubic metres so far," Sundby continues.  

PONSSE Bear – A specialist in heavy-duty harvesting

PONSSE Bear is the strongest harvester in the model series. The powerful engine, sturdy crane, two powerful work pumps and strong H8 harvester head make it an agile giant for large trees and stands. The new PONSSE H8 harvester head is the next generation’s harvester head equipped with the Active Speed function, which raises effectiveness and productivity to a whole new level, no matter what the tree diameter is. The combination of Bear and H8 is a profitable solution with low lifecycle costs.

CONTACT:

Marko Mattila, Ponsse Plc
Sales, Service and Marketing Director
Tel. +358 40 0596297, [email protected]

The following files are available for download:

https://news.cision.com/ponsse-oyj/i/ponsse20th-12,c3247622

ponsse20th-12

Source : Ponsse manufactures its 20,000th forest machine

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–     A multi-center phase Ib/III study in China and the United States led by Professor Binghe Xu, MD, PhD, Academician of the Chinese Academy of Engineering

–     70% of the patients enrolled in phase Ib study were previously treated with CDK4/6 inhibitors 

–     Demonstrated a confirmed objective response rate (ORR) of 30% and a median progression-free survival (PFS) of 7.3 months

SHANGHAI and WARREN, N.J., Dec. 11, 2023 /PRNewswire/ — Laekna (2105.HK), a clinical-stage biotechnology company, announced reporting the results of a phase Ib study to evaluate the efficacy and safety of afuresertib plus fulvestrant in patients with locally advanced or metastatic HR+/HER2- breast cancer who failed standard of care therapies at the 2023 San Antonio Breast Cancer Symposium (SABCS) on December 8.

From May 2022 to April 2023, 20 patients (19 female and 1 male) with locally advanced or metastatic HR+/HER2- breast cancer who had failed 1-2 lines of endocrine therapy were enrolled in the Phase Ib study. The median duration of follow-up was 11 months.

As of October 16, 2023, the main study results are as follows:

–        70% of the patients were previously treated with CDK4/6 inhibitors.

–        Among the total patient population, the confirmed ORR was 30% (95% CI, 11.9, 54.3),  the median PFS was 7.3 months (95% CI, 3.7, NE). The disease control rate (DCR) was 80%.

–        Among the 11 patients with specific biomarker alterations (PIK3CA/AKT1/PTEN), the confirmed objective response rate was 45.4% (95% CI, 16.7, 76.6), the disease control rate was 82%, and the median PFS was 7.3 months (95% CI, 3.6, 8.2).

–        Among the 17 Chinese patients, the confirmed ORR was 29.4% (95% CI, 10.3, 60.0), the disease control rate was 82.4%,  and the median PFS was 7.3 months (95% CI, 3.6, 8.2).

–        The results demonstrated a well-tolerated safety profile of afuresertib plus fulvestrant. No dose modification was required during the safety run-in period. No patient discontinued treatment due to TEAE. No serious adverse event (SAE) was reported. 

Investigators concluded that the combination therapy of afuresertib and fulvestrant has shown promising efficacy with a well-tolerated safety profile, supporting further evaluation in the upcoming Phase III part of the study.

Academician Binghe Xu, the lead investigator of the study, said: "While therapies for breast cancer are increasing, the treatment of drug resistance remains one of the clinical challenges. With the approval of the world’s first AKT inhibitor last month, patients with locally advanced or metastatic HR+/HER2- breast cancer now have new hope. The Phase Ib data of the combination therapy of afuresertib and fulvestrant are promising. I look forward to the next Phase III study of afuresertib in breast cancer."

"Biomarkers of response and/or resistance to endocrine-based therapies has become a prominent topic in the field of breast cancer treatment. It is also the central theme of the ‘Poster Spotlight Session’ in which our study was presented," said Dr. Yong Yue, Chief Medical Officer of Laekna. "Compared with the PFS data of 3-4 months for fulvestrant monotherapy[1], the median PFS of afuresertib plus fulvestrant is significantly increased to 7.3 months, with a favorable safety profile."

Lakena has initiated the Phase III pivotal trial of afuresertib plus fulvestrant in the treatment of HR+/HER2- breast cancer. The company strives to bring new hope to patients.

Notes

Breast cancer

The latest data released by the International Agency for Research on Cancer (IARC) of the World Health Organization show that the number of new cases of breast cancer in 2020 reached 2.26 million worldwide, surpassing lung cancer for the first time and becoming the world’s most prevalent cancer with 685,000 deaths. The latest epidemic data of malignant tumors in China also show that breast cancer has ranked first among women, with about 420,000 new cases each year[2].

Approximately 69% of breast cancer patients in the United States are considered HR+/HER2[3], and the proportion of this subtype among Chinese patients is 62%[4]. Although most patients with this type of breast cancer initially benefit from first/second-line endocrine ± CDK4/6 inhibitors and/or chemotherapy, most may develop drug resistance after a period, leading to treatment failure.

With further research on AKT, it has been demonstrated that factors such as PTEN loss and AKT/PIK3CA mutation can lead to excessive activation of the AKT signaling pathway, resulting in the occurrence, development, and drug resistance of tumors, especially prevalent in HR+ breast cancer. AKT has consequently emerged as a popular target for treating tumors.

Afuresertib

Afuresertib (LAE002) is an AKT inhibitor developed by Laekna. Laekna has initiated multiple clinical studies of combination therapies with Afuresertib in patients with PROC, HR+/HER2− breast cancer, mCRPC, TNBC, PD-1-resistant cervical cancer, and endometrial cancer.

—End—

About Laekna

Founded in 2016, Laekna is a science-driven, clinical-stage biotechnology company committed to bringing novel therapies to cancer and liver fibrosis patients worldwide.

As of June 30, 2023, Laekna has initiated six clinical trials for afuresertib (LAE002), LAE001 and LAE005 to address unmet medical needs in cancers, such as ovarian cancer, breast cancer and prostate cancer. Among the six clinical trials, three are multi-regional clinical trials (MRCTs), including one pivotal trial.

Laekna’s internal drug discovery platform has discovered 12 drug candidates. LAE102 is our first internally discovered antibody that has obtained an IND approval from the FDA. Its potential indications include muscle regeneration, obesity, and cancer.

Laekna, Inc. was listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") on June 29, 2023. The stock code is 2105.HK.

For more information, please visit: https://www.laekna.com/

or https://www.linkedin.com/company/74110713/

Forward Looking Statements

This press release may contain certain "forward-looking statements" which are not historical facts, but instead are predictions about future events based on Laekna’s current beliefs, assumptions, and expectations, commonly identified by words such as "would", "may", "expects", "believes", "plans", "intends", "projects" and other terms with similar meaning. Although we believe that our predictions are reasonable, future events are inherently uncertain and our actual future results or performance may be materially different from what we expect. Accordingly, you are strongly cautioned that reliance on any forward-looking statements is subject to significant known and unknown risks and uncertainties. All forward-looking statements contained herein are qualified by reference to the cautionary statements set forth in this section. All information provided in this press release is as of the date of this press release and are based on assumptions that we believe to be reasonable as of this date, and we do not undertake any obligation to update any forward-looking statement, except as required under applicable law.

[1] N Engl J Med 2023;388:2058-70.

[2] Global Cancer. IARC. http://gco.iaic.fr/

[3] Cancer Stat Facts: Female Breast Cancer Subtypes; SEER 22 2016–2020

[4] Breast cancer subtypes and survival in Chinese women with operable primary breast cancer. Chin J Cancer Res, 2011. 23(2): p. 134-9.

Source : 2023 SABCS | Laekna Reports Afuresertib Phase Ib Breast Cancer Study Results

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SAN FRANCISCO and SINGAPORE, Dec. 11, 2023 /PRNewswire/ — Hummingbird Bioscience, a data-driven precision biotherapeutics company discovering and developing transformative biologic medicines for hard-to-treat diseases, today announced the appointment of Angèle Maki, Ph.D., as Chief Business Officer, effective immediately.

Piers Ingram, Ph.D., Chief Executive Officer and co-founder of Hummingbird Bioscience said: "We are delighted that Angèle is joining our team. Her deep experience as a business development leader combined with her proven ability to execute on strategic transactions in biotech and pharma, makes her invaluable to our journey in bringing precision medicines to patients."

Dr. Maki has two decades of experience in the biotech and pharma industry, with a track record of successful deals and partnerships across multiple therapeutic areas and modalities including significant numbers in antibody therapeutics. Most recently, she served as Senior Vice President and Head of Business Development at ReCode Therapeutics, where she led business development, corporate development, investor and public relations. At ReCode Therapeutics, she was part of the team that raised a USD 120Mn series B extension. Prior to ReCode, Dr. Maki held business development roles with increasing responsibility starting at Medarex followed by BMS (which acquired Medarex), Genentech, Merck & Co, and Eli Lilly.

"I am excited to join Piers, Jerome, and the Hummingbird Bio Board of Directors and investors in driving the mission of delivering precision therapeutics to patients with unmet need. I believe Hummingbird Bio’s approach to precision medicines and its promising clinical antibody assets will redefine the next generation of precision therapeutics," said Dr. Maki.

About Hummingbird Bioscience

Hummingbird Bioscience is a data-driven precision biotherapeutics company discovering and developing transformative biologic medicines for hard-to-treat diseases. The Hummingbird Bioscience model combines computational and systems biology with wet lab drug discovery in a multi-disciplinary, collaborative environment spanning initial discovery through clinical development. The company harnesses this integrated approach across target identification and patient selection, enabling the team to increase the efficiency of translating novel scientific insights while reducing the inherent risk in drug discovery and development. The company is currently developing two clinical-stage assets: HMBD-001, a humanized anti-HER3 monoclonal antibody targeting a novel epitope on HER3, and HMBD-002, a humanized anti-VISTA IgG4 monoclonal antibody. Both programs are currently in Phase I studies. At Hummingbird Bioscience, the commitment to rigorous science, teamwork, and intellectual integrity underpins our passion to accelerate the journey of new drugs from concept to clinic. 

For more information, please visit www.hummingbirdbioscience.com, and follow Hummingbird Bioscience on LinkedIn, X (formerly Twitter), and YouTube.

Source : Hummingbird Bioscience Strengthens Leadership Team with Appointment of Angèle Maki as Chief Business Officer

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HONG KONG, Dec. 11, 2023 /PRNewswire/ —

T Galleria by DFS, Macau, The Londoner store is celebrating its grand first year store opening anniversary. Sands Lifestyle, in collaboration with DFS, are co-hosting Little Luxury Stars children’s fashion event. DFS is offering guests a range of exclusive shopping offers at Shoppes at Londoner, along with various anniversary celebration activities.

DFS celebrates the first anniversary of the store opening with a lively cake cutting ceremony.

T Galleria by DFS, Macau, The Londoner is gearing up for a grand first anniversary of its store opening. To celebrate, DFS has launched various winter promotions and reward activities, adding an extra festive atmosphere to the Christmas season. Coinciding with the celebration, DFS, in conjunction with Shoppes at Londoner and Sands Lifestyle has launched a children’s fashion extravaganza, ‘Little Luxury Stars’. The family-friendly campaign, which commenced on December 9, includes a children’s fashion show, a range of limited-time shopping privileges and engaging in-store promotions, with a colourful London Zoo inspired decorative environment throughout the mall tying it all together.

Little Luxury Stars decoration is thoughtfully crafted, exuding both elegance and warmth.

Little Luxury Stars Kid’s Fashion Show Takes to the Stage

Little Luxury Stars was first launched at Marina Bay Sands, Singapore, and has been warmly received by shoppers and the city’s young fashion icons. By bringing the event to Macao it has now evolved into a synergistic regional event.

The event kicked off with a premium ready-to-wear children’s fashion show on December 9, that began with a ribbon-cutting ceremony, and a delightful opening dance performance featuring charming children dressed as Royal Guards and adorable animals. This was followed by 20 young fashionistas walking the runway vibrantly showcasing the latest seasonal looks that are all available at T Galleria by DFS at Shoppes at Londoner. Highlighted brands included Balmain, Bonpoint, Boss, Chloe, Givenchy, Kenzo Kids, Moncler, Moschino, Stella McCartney and Versace Kids.

The children’s fashion show was a captivating moment, filled with wonder and excitement.

The children’s fashion show was a captivating moment, filled with wonder and excitement.

Johan Pretorius, President of Hong Kong and Macao, DFS Group said, "We are delighted to celebrate the first anniversary of our store opening at The Londoner Macao and are thrilled to partner with Sands Lifestyle on launching the first Little Luxury Stars Kid’s Fashion Show in Macau. We take our brand promise seriously in being our customers’ personal guide to a world of luxury. Shoppers looking to indulge during this festive season can count on us to deliver an unforgettable curated experience when shopping at DFS The Londoner Store."

Timothy Jones, Senior Vice President of Retail, Sands China Ltd. said, "At Shoppes at Londoner, a premium lifestyle mall with a family focus, we are always looking to exceed shoppers’ expectations by arranging special promotions and events. With Christmas just around the corner, this is the perfect time to launch Little Luxury Stars, providing shoppers with a host of on-trend ideas for fashionable gifts. I would like to thank DFS for their invaluable support in making this inaugural fashion event so engaging and rewarding for the entire family. Following the kick off of this fashion extravaganza, Harry Potter™: The Exhibition will open on December 15 at The Londoner Macao, giving visitors even more family-friendly options."

The event finale with a perfect mark in the form of a group photo.

DFS The Londoner store features over 120 world-leading and emerging brands, including more than 50 beauty brands, 36 watch and sunglasses brands, and 40 plus kid’s fashion and toy brands, covering a total area of over 22,000 square feet. It is the epitome of a family-centric shopping destination that combines luxury shopping experiences and high-end lifestyles, accentuating DFS’s long-term partnership with Sands China Ltd.

A Season of Shopping with Abundant Rewards

Starting from December 9, DFS are offering a series of exclusive shopping benefits to customers at the Londoner Store Macao, providing them with the perfect opportunity to indulge in a luxurious shopping experience during this festive season.

The celebration of the store opening anniversary features numerous activities, including the Exclusive Lucky Capsule Game with a chance on winning grand prize with complimentary hotel room night and shopping vouchers. In addition to the joy of shopping, DFS has prepared a variety of engaging events for consumers, including chance of winning a Grand Prize of MOP 28,888 E-coupon, special performances by Santa Claus, Royal Guard music performances, animal mask painting workshops, balloon interactions, and more.

DFS features a children’s art workshop, providing an endless source of fun for families to enjoy a delightful and interactive journey together.

Completing the fashion-forward line-up is a Magical Shopping Spree promotion for Sands Rewards members, available until January 1, 2024. Spend MOP20,000 or more at Sands Shoppes Macao to earn up to MOP88,000 Rewards Dollar Vouchers and a stay at The Grand Suites at Four Seasons.

A series of diverse experiences await exploration throughout December, allowing you and your family to enjoy this warm season together.

DFS: Your Personal Guide To The World Of Luxury

DFS Group is the world’s leading luxury travel retailer. Established in Hong Kong in 1960, DFS Group continues to be a pioneer in global luxury travel retail, offering its customers a carefully curated selection of exceptional products from over 750 of the most desired brands. Its network consists of over 50 stores located in 15 major global airports and 21 downtown locations on 4 continents, as well as affiliate and resort locations. The Group is privately held and majority owned by the world’s largest luxury conglomerate, Moët Hennessy Louis Vuitton (LVMH), alongside DFS co-founder and shareholder Robert Miller. DFS Group employs more than 6,000 people focused on creating inspiring omnichannel retail experiences for its customers and is headquartered in Hong Kong SAR with offices in Australia, mainland China, France, Indonesia, Italy, Japan, Macau SAR, New Zealand, Singapore, United Arab Emirates, United States of America and Vietnam. For more information, please visit www.dfs.com.

About T Galleria by DFS

T Galleria by DFS is the ultimate evolution of the original travel retail concept pioneered by DFS Group. The first downtown store opened in 1968 in Hong Kong, followed shortly thereafter by Honolulu and eventually expanding to 21 locations all over the world. Today, T Galleria by DFS has a presence in the United States of America, as well as across Asia, Europe, Oceania and the South Pacific regions. Linked to the notion of travel through the use of T for the Traveler, the brand stands for what customers have come to expect: an expertly curated assortment of the world’s preferred luxury brands, exceptional retail environments, highly personalized services and unique experiences tailored to their specific needs as travelers. T Galleria by DFS enables travelers to realize their individual style, one journey at a time.

About Sands Shoppes Macao

Sands Shoppes Macao is the largest duty-free luxury shopping experience in Macao, with approximately 850 retailers featuring the world’s best brands, all under one roof. It consists of the interconnected Shoppes at Venetian, Shoppes at Four Seasons, Shoppes at Londoner and Shoppes at Parisian with a total over two million square feet of opulent retail space.

The luxury shopping experience is part of Sands China’s integrated resorts on the Cotai Strip, featuring seven hotel properties: The Venetian® Macao; The Parisian Macao; The Plaza™ Macao (including Four Seasons Hotel Macao, Cotai Strip); and The Londoner® Macao (comprising The St. Regis Macao; Conrad® Macao; and Sheraton Grand Macao; and The Londoner Hotel). Sands Shoppes Macao features some of Macao’s first-to-market luxury brands, and with its unique design themes, is an unmissable experience for visitors. Sands Shoppes Macao also delivers a wide array of delectable international cuisine, from high-end gourmet to expansive food court options.

 For more information, please visit http://en.sandsresortsmacao.com/shopping.html.

About The Londoner® Macao

The Londoner® Macao is an integrated resort that invites visitors on a journey through the best of British history and culture. It incorporates five celebrated hotel brands – the new The Londoner Hotel and Londoner Court, alongside existing Conrad Macao, Sheraton Grand Macao and The St. Regis Macao. The Londoner Macao will present visitors to Cotai with an expanded offering of affordable luxury available nowhere else in Macao, with over 6,000 hotel rooms and suites, and 1.2 million square feet (111,000 square metres) of retail, entertainment, dining and meetings and convention space. With over 150 retail outlets, Shoppes at Londoner joins Shoppes at Venetian and Shoppes at Four Seasons, alongside Shoppes at Parisian. Together they offer a selection of approximately 850 luxury duty free stores – the most in any one single location in Macao. With three spas, four health clubs and over 365,000 square feet (34,000 square metres) of uniquely themed gaming space, The Londoner Macao provides a new level of luxury and accessibility to the Cotai Strip.

Source : Co-hosting Little Luxury Stars at Shoppes at Londoner while T Galleria by DFS Celebrates First Anniversary in The Londoner Macao

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Strategic Partner Conference Focuses on Innovation and Collaboration in the Evolving Global Supply Chain Landscape

HAIKOU, China, Dec. 11, 2023 /PRNewswire/ — From December 10 to 11, 2023, Weichai Power (HK2338; SZ000338) hosted the Global Supply Chain Strategic Partner Cooperation Conference in Haikou, Hainan, China. The event brought together over 400 suppliers globally to celebrate the accomplishments of 2023, deliberate on forward-thinking supply chain integration plans, and formulate strategies for future growth.

Tan Xuguang, Chairman and General Manager of Shandong Heavy Industry Group, Chairman of Weichai Power, and Chairman of China National Heavy Duty Truck Group, attended the conference and delivered a keynote speech entitled "Chain Integration Innovation, Challenging the Future". He highlighted Weichai Power’s efforts to promote the industry’s advancement through collaboration with global supply chain partners, resulting in a broad spectrum of power solutions and the establishment of globally recognized industry brands. In response to the evolving trends and characteristics of global industrial development, Mr. Tan proposed four key principles for collaborative success: Strategic Consistency, Mutual Benefit, Optimization and Improvement, and Integrity in Ecology. These principles are aimed at developing an effective global industrial cooperation ecosystem. The conference also marked the unveiling of a framework for selecting outstanding suppliers and solidified a commitment to transparent cooperation with ten supplier representatives.

Weichai Group, a leading multinational in the industrial equipment sector based in China, has established a significant global presence. The company’s diverse portfolio includes power systems, commercial vehicles, agricultural equipment, construction machinery, intelligent logistics solutions, and marine transportation equipment. Weichai maintains a global footprint with subsidiaries in Europe, North America, and Asia, and exports to more than 150 countries. In recent years, the company has notably increased its investments in technological innovation, establishing ten advanced innovation centers worldwide. These efforts have led to the development of a comprehensive range of product platforms, which emphasize both medium and high-speed engines while equally focusing on traditional and renewable energy sources. Weichai’s engine offerings, covering a range from 2L to 579L in displacement and 18kW to 10,000kW in power, place it among a select group of companies with one of the most extensive product lines globally.

In his speech, Mr. Tan underscored the critical role of collaborative partnerships in driving progress, asserting that a vibrant future is contingent upon the collective efforts of the entire industry chain. He highlighted the necessity of unity as a formidable force in an environment characterized by changing industry cycles and intense global competition. Mr. Tan stressed the significance of self-reliance and the enhancement of China’s premier supply chain as vital for establishing leadership. He articulated that the ultimate objective is to engage in cooperative and mutually beneficial relationships with the world’s leading supply chains, aiming to serve the broader global industry effectively.

Source : Forging the Future: Weichai Power's Global Strategy for Supply Chain Excellence

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BEIJING, Dec. 11, 2023 /PRNewswire/ — As the world continues to face a severe economic downturn and various economic indicators in China reflect both a steady recovery trajectory as well as ups and downs in the Chinese economy, global attention is turning to an all-important end-of-year meeting to see how top Chinese policymakers view China’s economic prospects and top priorities for 2024.

The Central Economic Work Conference is usually held in mid-December and sets the tone for economic policymaking for the coming year. As a crucial prelude for the conference, a meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee on Friday suggested that policymakers will likely prioritize policies to further consolidate the economic recovery to ensure reasonable growth, continue to address major risks and boost new emerging sectors to ensure high-quality development, analysts said on Sunday.

In general, while China’s economy will continue to face both external and internal risks and challenges, the upward recovery trajectory will likely continue and further consolidate thanks to strong resilience of the Chinese economy and plenty of policy tools and rooms for Chinese policymakers to effectively tackle downward pressure, analysts predict. The world’s second-largest economy will remain the main growth driver for global growth for 2024, in which the global economy is expected to see major downward risks, they noted.

Setting the tone

As of Sunday, information regarding the closed-door Central Economic Work Conference remains scarce. An official readout of the meeting is usually released after the meeting. Some signs indicate that the meeting may be forthcoming. Firstly, it is usually held in mid-December. Last year’s conference was held from December 15 to 16, and pledged a series of measures to tackle risks and promote an overall improvement in economic operations in 2023.

Also a crucial harbinger for the annual tone-setting conference is a meeting of the Political Bureau of the CPC Central Committee, which focuses on the economic work in the coming year and comes shortly before the conference. On Friday, the Political Bureau held the meeting to analyze and study the economic work of 2024, arrange Party conduct and anti-corruption work, and review regulations on the CPC’s disciplinary action, the Xinhua News Agency reported. The political bureau meeting is usually regarded as a reliable window into what might be in store for the economic work conference, analysts noted.

"The Political Bureau meeting usually sets the tone for the Central Economic Work Conference, and policy signals from the Political Bureau meeting will generally be further refined at the Central Economic Work Conference," Hu Qimu, a deputy secretary-general of the digital-real economies integration Forum 50, told the Global Times on Sunday.

Signals from the Political Bureau meeting on Friday suggested that priorities will be placed on consolidating the economic recovery, tackle risks and promote high-quality development in 2024, according to analysts.

The meeting stressed that it is important to boost economic vitality, prevent and mitigate risks, improve social expectations, consolidate and promote the momentum of economic recovery, and effectively improve the quality of the Chinese economy and promote its growth within a reasonable range, according to Xinhua. The meeting also emphasized the general principle of seeking progress while maintaining stability.

Yao Jingyuan, a special researcher of the Counselors’ Office of the State Council, said that as China’s economy will continue to face many internal and external challenges in 2024, seeking progress while maintaining stability will remain the overall tone for next year.

"What I’m saying is that our economic work must respect the laws of economics, be rational and not anxious. In this case, we must persist in making progress while maintaining stability, proceed step by step, and resolve risks and problems during the process of development," Yao told the Global Times.

Yao noted that in terms of addressing risks and challenges, China will continue to focus on issues in the real estate market, local government debt and supporting the private sector in 2024. "These are problems that we will face next year and we will be able to address them and maintain relatively good economic growth."

While neither the Political Bureau meeting nor the Central Economic Work Conference offers a specific growth target, the tones will suggest that policymakers will take stronger efforts to consolidate the recovery and ensure stable growth, analysts said, pointing to various policy pledges from Friday’s meeting.

Stronger policy support

The meeting said that proactive fiscal policies should be appropriately strengthened and improved in quality and efficiency, while the prudent monetary policies should be flexible, appropriate, precise, and effective.

These pledges signal that policymakers will likely step up both fiscal and monetary policy support for the economy in 2024, analysts noted.

Pointing to lingering downward pressure, Tian Yuan, a Beijing-based economist, said he expects more stimulus policies for next year. "The Central Economic Work Conference will likely arrange a package of policies to ensure continued economic recovery next year," Tian told the Global Times.

The focus of stimulus policies will be on consumption, analysts noted. The Political Bureau meeting on Friday also stressed that it is imperative to intensify macro regulation, expand domestic demand and deepen supply-side structural reform.

"Judging from the signals from the meeting, boosting consumption will be a top priority," Hu said, noting that consumption’s contribution to economic growth reached 80 percent in the first 11 months of 2023. "So next year we will likely introduce some stimulating policies, which may boost consumption."

Priorities will also be given to boost new emerging industries to foster new growth engines to ensure high-quality development, analysts noted, pointing to various references from the readout of Friday’s meeting.

The meeting noted that it is also essential to accelerate the forging of a new development paradigm, focus on promoting high-quality development, comprehensively deepen reform and opening up, and build self-reliance and strength in high-level science and technology. It also urged efforts to establish the new before abolishing the old, which, analysts say, refers to the focus on fostering new growth models.

Despite various risks and challenges in 2024, the Chinese economy is expected to remain one of the fastest-growing among major economies and the main driver for global growth, analysts said. Some international organizations have also raised their growth projections for China, even as they lowered forecasts for global growth. Last week, the IMF said that the Chinese economy is expected to reach the growth target of around 5 percent in 2023 and reaffirmed an October upward revision of China’s growth projection for 2024 from 4.2 percent to 4.6 percent.

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China’s top economic conference expected to prioritize stable growth, tackling risks in 2024

https://www.globaltimes.cn/page/202312/1303347.shtml

Source : Global Times: China's top economic conference expected to prioritize stable growth, tackling risks in 2024

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Gathering World’s Top Experts to Construct Global Framework for AI Governance

HONG KONG, Dec. 11, 2023 /PRNewswire/ — The Hong Kong University of Science and Technology (HKUST) and Tsinghua University jointly launched the ‘International AI Cooperation and Governance Forum 2023’ from December 8th to 9th.  The two-day forum brought together over 50 world-renowned artificial intelligence (AI) experts, scholars, industry leaders, government representatives and international organization delegates to explore the opportunities and challenges brought by cutting-edge technologies such as generative AI, and discuss strategies for building a comprehensive global governance framework for the new technology.

The rapid development of generative AI in recent years has embarked a new era of AI research and development, however, there were numerous security considerations in its applications. The US and European governments have taken steps in regulating generative AI through different rules and orders. As a significant international conference in the field of AI governance, this forum has gained support from organizations worldwide including the United Nations (UN) Development Program and the United Nations Educational, Scientific and Cultural Organization (UNESCO). It also attracted representatives from government departments in the Mainland, European Union, Singapore, Brazil, South Africa and Malaysia, as well as academicians from the Chinese Academy of Engineering (CAE) and the Chinese Academy of Sciences (CAS). Top AI experts from countries such as UK, US, France, and Germany, as well as senior executives from well-known science and technology innovation enterprises, addressed and discussed the challenges as a result of the paradigm shift brought by AI.

Officiating guests of the forum were Ms. LU Xinning, Deputy Director of the Liaison Office of the Central People’s Government in the HKSAR (CLO), Mr. FANG Jianming, Deputy Commissioner of China’s Foreign Ministry in the HKSAR, Prof. SUN Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government, Prof. Harry SHUM, HKUST Council Chairman, Prof. Nancy IP, President of HKUST, Prof. WANG Hongwei, Tsinghua University Vice President, Prof. XUE Lan, Dean of Schwarzman College and Institute for AI International Governance at Tsinghua University, Dr. YBhg. Datuk Ts. Dr. Mohd Nor AZMAN HASSAN, Deputy Secretary General of the Ministry of Science, Technology and Innovation of Malaysia, and Prof. WANG Weiming, Director-General of Educational, Scientific & Technological Affairs at CLO. 

Prof. Tshilidzi MARWALA, Under-Secretary-General of the United Nations, Mr. Manuel Innocencio DE LACERDA SANTOS JR., Consulate General of Brazil in Hong Kong, Mr. Thomas GNOCCHI, Ambassador of the European Union office to Hong Kong and Macao, Mr. Mojalefa MOGONO, Consulate General of South Africa in Hong Kong & Macau, addressed the audience after Prof. GUO Yike, HKUST Provost and Prof Xue Lan from Tsinghua University delivered introductory remarks.  About 600 people have joined the two-day forum, other viewers watched live broadcast online.

Turing Prize Winner Prof. Yoshua BENGIO, Founder and Scientific Director of Mila – Quebec AI Institute hailed by the media as one of the "Godfathers of AI, delivered a keynote speech on the second day of the forum. He shared on how to strike a balance between the two management models that manage frontier AI risks: democratic governance, which prioritizes public interest and regulation, and techno-libertarianism, which emphasizes autonomy and innovation, in order to achieve social inclusion and sustainable development of AI.

Prof. SUN Dong, Secretary for Innovation, Technology and Industry, said in his opening speech, "Hong Kong is sparing no effort to seize the opportunities brought by AI for digital innovation, while we are also aware of the challenges it posed. The Government has developed the Ethical AI Framework which provides guidance in implementing AI projects and managing the associated risks, while promoting responsible AI practices. I would like to express my gratitude to HKUST and Tsinghua University for co-hosting this Forum, which will be a catalyst to generate intelligently more innovative ideas about AI development and provide more pointers to the robust development of the AI industry in terms of stronger cooperation and enhanced governance." 

Prof. Harry Shum, renowned AI expert, Co-chairperson of the Forum’s Academic Committee and HKUST Council Chairman, said in his welcome remarks, "The strides we have made in AI in recent years have surpassed what we could have imagined just a decade ago. Both corporate and academic worlds are pushing the boundaries, endeavoring to reach human-like competencies in a wide range of tasks. Yet, as we navigate the complexities of AI, it is equally crucial to consider the societal repercussions it may bring, and the importance of establishing some guiding principles and framework. HKUST is privileged to co-organize this forum with our long-standing partner Tsinghua University, providing a platform for critical discussions that will guide the future trajectory of AI."

Prof. Nancy Ip, Co-chairperson of the Forum’s Organizing Committee and HKUST President, said in her welcome remarks, "Governance is vital to advance and popularize the use of any new technology. This forum we are holding with Tsinghua today provides an invaluable platform for collaboration and thought-provoking discussions on how we could apply AI to create a better, more inclusive and sustainable world. HKUST is committed to advance the AI ecosystem. While we continue to strengthen international collaborations in this area and pioneer AI’s application and development in different fields, we will also enhance our infrastructure capacity through the construction of an Innovation Building that promotes cross-disciplinary and collaborative research, as well as a high-performance computational facility to further enhance our research capabilities in AI."

Prof. WANG Xiqin, President of Tsinghua University and another co-chair of the organizing committee, said in his welcome remarks, "AI governance is crucial for humanity’s fate. As the birthplace of technological innovation, leaders in social development and inheritors of human civilization, universities have greater responsibilities in strengthening global governance of AI risks. Tsinghua University attaches great importance to scientific research, innovation, ethics education, and governance in AI, and sincerely look forward to working with global partners to empower the world and contribute to the construction of a shared future for mankind."

Prof. Wang Hongwei, Vice President of Tsinghua University and co-deputy-chair of the organizing committee, said, "Tsinghua University is committed to using this forum as a platform to foster extensive exchanges and cooperation with partner universities and institutions, including HKUST. Together, we will advance the healthy and sustainable development of AI and improve the global governance framework."

Meanwhile, HKUST and Peng Cheng Laboratory also signed an agreement at the forum to conduct collaborative research and jointly cultivate talents in AI related areas.

Keynote speakers for the first day included Mr. Brad SMITH, Vice Chair and President of Microsoft, Prof. GAO Wen, Director of Peng Cheng Lab and CAE Academician, Prof. DAI Qionghai, Dean of Information Science and Technology and Director of Beijing National Research Center for Information Science and Technology at Tsinghua University, and Dr. Stephen CAVE, Director of the Leverhulme Centre for the Future of Intelligence at the University of Cambridge. They presented on topics spanning security issues in the development of next generation AI, intelligent photoelectronic computing, and the three waves of AI ethics.

Keynote speakers for the second day were Prof. ZHANG Bo, CAS academician and Honorary Dean of the Institute for Artificial Intelligence at Tsinghua University, Prof. Dame Wendy HALL, Regius Professor of Computer Science at the University of Southampton, Prof. Shahbaz KHAN, Director of UNESCO’s Cluster Office in Beijing, and Turing Prize winner Prof. Yoshua Bengio from the Université de Montréal. 

A highlight of the forum is the roundtable discussion chaired by Dr. Liesbeth VENEMA, Chief Editor of the authoritative scientific journal Nature Machine Intelligence. She was joined by Prof. Pascale FUNG, Director of the Center for Artificial Intelligence Research (CAiRE) and Chair Professor in the Department of Electronic and Computer Engineering at HKUST, Prof. ZHENG Liang, Vice Dean of the Institute for AI International Governance of Tsinghua University, Prof. Rostam J. NEUWIRH, Head of Department of Global Legal Studies at University of Macau, Dr. Serge STINCKWICH, Head of Research at the United Nations University Institute in Macau, and Prof. TAN Jianrong, a CAE academician from Zhejiang University. The panel engaged in in-depth dialogue over the development of a global governance framework for AI.

Other key sessions included a dialogue on the development of AI ethics among Prof. Pascale Fung, Chloé BAKALAR, Chief Ethicist of Meta’s Responsible AI division, and Joaquin Quiñonero CANDELA, AI Technical Fellow at LinkedIn. The trio discussed how to achieve a balance from three aspects of mathematics, ethics and politics, in the process of practicing and applying AI.

Scholars from renowned institutions including Technical University of Munich, Sorbonne University, University of Edinburgh, University of Southampton and Carnegie Council for Ethics in International Affairs, as well as senior executives from well-known scientific and technological enterprises such as Anthropic, xAI, Huawei, and Baichuan AI, also shared their insights on the strategies to address challenges such as those posed by generative AI.

Download photos of the forum here: http://udz039.ust.hk/~meu/AI_Forum_2023 

Source : HKUST and Tsinghua University Jointly Organize International AI Forum

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