Interim Report 2023

19 INTERIM REPORT 2023 and paperless office. On the front of ecological protection, the Group strived to minimize its impact to the ecosystem as much as possible, and assessments were made in strict compliance with the relevant requirements in terms of site selection and their environmental impacts. Second, the Group promoted the upgrades on digitalization. The Group insisted on empowering and facilitating the enhancement of operating capability through technology. For the areas of technology research and development, production efficiency, safety supervision, integration of business and finance, management and control of cost, the Group utilized applications such as “CMCore”, “CM ePort”, automation technology, intelligent border ports, 5G applications, blockchain, Beidou system, artificial intelligence to promote the comprehensive construction of port digitalization, and accelerated the construction progress of smart and green ports, thus promoting the high quality development of regional leading ports. Third, the Group insisted on performing its social responsibility. Upholding the concept of integration for mutual benefit, the Group focused on the needs of the community where it operates, and integrated into the culture where it operates and provided assistance to the sustainable development of the local community through community interest fields such as talent cultivation, educational and medical support, livelihood and relief, children care, rural revitalization, etc. from time to time. The Group continued to develop the “C-Blue Global Philanthropic Mission” charity brand. During the first half of 2023, the Tenth “C-Blue Training Program” was commenced successfully, which provided a platform for exchange and learning for young talents from the global port industry. The Group also vigorously developed the “C-Blue Rural Education” project, carrying out “2023 C-Blue Lianping Growth Camp”, “C-Blue Weining Growth Camp” and “C-Blue Summer Camp for Children (Innovation and Upgrade)”, which provided assistance to and helped rural schools with education improvement in order to facilitate a fair and balance development of education. In overseas areas, the Group continued to promote the “C-Blue Hope Village” project in Sri Lanka. FUTURE PROSPECTS As the second half of 2023 approaches, with the risk of global economic growth still tending to decline, more economies may fall into sovereign debt predicament if more shocks take place, including the intensified Russia-Ukraine conflicts and the impact of extreme weather, inflation might stay high or even go up, which can lead to further tightening of monetary policy. Nevertheless, the possibility of a more favorable outcome for global growth is also rising, with core inflation likely to decline faster than expected, thereby reducing the need to implement tighter monetary policies. IMF predicted that the global economy would record a 3.0% growth in 2023, a decrease of 0.5 percentage point as compared to that of in 2022. Among which, the growth rate of emerging market and developing economies was expected to be generally stable at 4.0% in 2023 and 4.1% in 2024; in particular, the predicted value for 2023 was upward by 0.1 percentage point and for 2024 was downward by 0.1 percentage point. The total global trade volume (including goods and services) was expected to grow at 2.0% in 2023 and 3.7% in 2024; which showed a reduction of 0.4 percentage point from the April predicted value for 2023 and an increase of 0.2 percentage point for 2024. In the second half of 2023, the contraction of China’s real estate industry may be more intense beyond expectations while the lack of its confidence will lead to weaker consumption than expected. In response to the decline in local government tax revenues, fiscal policy may be tightened. All of these uncertainties will put pressure on China’s economic growth. However, there is still great resilience for the development of China’s import and export. The international market demand may surpass expectations and consumption growth may further release potential. The acceleration in the development of digitalisation will continue, and the development trend of the green economy will further strengthen, thus technological innovation will become an important driving force for the economic development of China. In the next phase, the Chinese government will continue to adhere to the general tone of making progress while maintaining stability, will exert efforts on changing methodology, adjusting structure and injecting momentum and strive for promoting its economy to achieve an effective enhancement in quality and a reasonable growth in quantity.