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Coming up, China's Vice Premier tells the Davos Forum that China aims to view the world's market.
EU lawmakers agree to put a key trade deal with the US on hold following President Donald Trump's terror threat over Greenland.
Trump and the Putin envoys call their Davos meeting on Ukraine positive and constructive.
And Chinese team makes history by reaching under-23 Asian Cup final for the first time.
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First up, Chinese Vice Premier He Lifeng says China's development is an opportunity rather than a threat, adding China is willing to leverage its market advantages and share its opportunities.
In his address at the World Economic Forum in Davos Switzerland, He Lifeng said China adheres to the principles of equality, mutual benefit and resolving issues through consultation to create win-win and multi-win outcomes.
He pledged that China will continue with the country's opening up and continue to create a market-oriented and internationalized business environment.
The Vice Premier of China has also met with senior Swiss, US and British officials to discuss economic and trade issues.
So for more.
Joining us now on the line is Professor Liu Baocheng, Director of the Center for International Business Ethics with the University of International Business and Economics.
So thank you very much for joining us today, Professor Liu Baocheng.
China's Vice Premier has basically delivered a message of free trade multilateralism, cooperation and dialogue at the World Economic Forum.
What's the significance of this message at a time when the world, including the forum's host continent Europe, is nowadays grappling with increasingly aggressive moves from Washington?
Let's put it this way
I think the significance lies in the contrast and reassurance when the global economy is being overshadowed by protectionist sentiment.
Coercive tariff from the United States in particular.
And now we're also facing geopolitical pressures.
So this is particularly felt pretty deeply in Europe.
So China's message underscores the continuity and predictability over its own commitment as the second largest economy.
So this is going to be a positive force to shore up the confidence in the continued paradigm of global trade and other type of economic cooperation.
So, by Mr Hearst, reaffirming the free trade, multilateralism and, more importantly, dialogue to address certain outstanding issues with diverse, China positions itself as a stabilizing force within a global economic community, rather than serving yourself interest or serve as a disruptor.
So for Europe especially, this message resonates because many European countries who depend on the US market, they also feel deterred with regard to the uncertainties, and they are also going forward for strategic autonomy and de-risking, et cetera.
So a rule-based trade and the reference from China was more of the dialogue and institutional cooperation.
So the emphasize on equality, mutual benefit and consultation signals a stronger level of engagement rather than confrontation.
So this is pretty much a preferred approach and offering European businesses and governments strong anchor of economic ties with continuity, particularly with China, to address some of the external volatilities they have to face.
The Chinese vice premier emphasized that cooperation between China and the United States benefits both, while confrontation hurts both, calling on the two sides to support each other's success and pursue shared prosperity.
So do you think a trade truce between Beijing and Washington, which is currently in place, is yielding some positive economic impacts on the two economies?
Yes and no, because this truce is really temporal, and also it's limited in its scope.
I do not think the trust is there yet to unleash the full potential that both of the two largest economies can really cooperate together.
But it's meaningful because the truth can help reduce the acceleration of the uncertainties, to stabilize, at least for a quite period of time, the expectations of the business communities and giving some assurance to the consumers.
So the fact that the more of the uncertainties are still hanging over
So this is something that, you know, all stakeholders have to be prepared for it.
You know, even without restructuring the major differences on a equal footing, the polls in further escalation of certain confrontation can really allow some supply chains to adjust to more smoothly and earn time for investment decisions to proceed with some level of clarity.
So I was seeing that because the benefit of such truths are largely defensive rather than really transformative.
Because further dialogue, further negotiation, particularly to be placed on an equal footing, should be there to unlock more of the potential over there for trade and investment and other type of technology cooperation.
So a sustainable growth would require deeper collaboration and also to discover a mechanism to manage the competition from crowding out the collaboration.
So I think, Vice Premier, He's message is bearing significance, because it really reinforces the idea that a corporation extends the pie while confrontation only shrinks, for not only both sides, but actually to the global community, given the giant size of the two biggest economies.
In the meantime, the Vice Premier of China has also said that China has never deliberately pursued a trade surplus, adding that China is not only willing to be the world's factory, but also, more eagerly, to be the world's market.
Do you think that's one of the key reasons why China's economic policy is now placing so much emphasis on boosting domestic demand and consumption?
I think very much so.
The years that China needs to accumulate more of the foreign exchange reserves is over.
Previously, we need foreign exchange to buy equipment, to buy technologies.
But now China is now moving into the forefront of innovation.
So we do not need the trade surplus as much to support the foreign exchange reserve funds.
Therefore, to go for a balanced type of import and export would mean a structural evolution because, as the Chinese income rises,
And this is also the government's permanent intention to raise the quality of the people's life through high quality conception.
So by boosting domestic demand, the end goal is really to deliver the commitment of the government and also to be able to give more of the momentum for businesses, both at home and abroad, to tap into the greater market potential over there.
But it is really the competitiveness that's really have the final say through the market mechanism on a global landscape.
So therefore, it doesn't mean that China will concede on its spearheaded innovation and to shore up its business competitiveness.
So the perfect balance between imports and exports is only theoretical.
It's really the market that's going to have a say.
And plus Europe.
In particular, they need a lot more of the spare parts, raw materials and intermediaries, et cetera, to feed its own industrial operation, because the world is no longer operating alone by a particular country.
So such sort of exchange and collaboration can really boost the efficiency and also prosperity on all participants.
So, in your opinion Professor, to what extent can China's pledge to increase its imports of high-quality foreign goods help alleviate concerns among certain countries, for example European countries, over Chinese imports undermining their industries?
And also, apart from the opportunities to be able to tap into China's expanding market, what other opportunities do you think China's development is, in general, providing to other countries?
Yeah, I must clarify that by expecting more, it doesn't mean that we are really predating on the whole world, because the world needs that.
There's no really sort of a clear intention to take unfair advantage of the global marketplace.
Like, you know, many consumers all over the world, they need made in China.
But you know, aside from that, of course imports, the increase will be able to partially alleviate European concerns, especially in those sectors where the European firms have a better competitive advantage, such as the advanced manufacturing, green technology, healthcare and high-end consumer goods, and also those who are reliant on the green energy, that China is one of the biggest producers.
So the greater access to China market will help yes, the rebalance the trade relationship and create the tangible benefits for European industries.
So, beyond market access, China's development also offers more of the broader opportunities to collaborate in investment opportunities in industrial collaboration.
I think more significant is really the skill and also the support of the Chinese business environment in terms of a cluster, in terms of a complete industrial spectrum.
So that's just something that the European firms are really looking forward.
And plus because all multinational companies.
They look at the entire global marketplace while they operate in certain countries like China.
So we are also looking forward to really to build a positive spillover into the global market so that the global supply chain can be further enhanced, and to be able to earn the shared growth space for all participants in that regard.
Thank you very much for joining us.
Professor Liu Baocheng, Director of the Center for International Business Ethics with the University of International Business and Economics.
Coming up.
China's research and development spanning intensity surpassed the OECD economies for the first time in 2025.
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China's economy is showing a clear pivot towards innovation-driven growth model.
In 2025, according to the latest figures, RD spending intensity reached 28, surpassing the OECD average for the first time.
China also entered the global top 10 in terms of innovation rankings.
From artificial intelligence and quantum computing to green energy and advanced manufacturing, breakthroughs are accelerating and the link between research and industry is tightening.
So what does this surge in terms of innovation really mean for China's economic transformation, as well as for global tech advancement?
For more on this, my colleague Zhao Yang spoke with Dr Yan Liang, professor of economics with Willamette University.
So Yan, China's RD spending intensity reached 28 last year, surpassing the OECD average for the first time.
How important is this milestone in the global innovation landscape?
And what does it mean for China's industrial upgrade and high-quality development?
Well, I think this indeed is a milestone and I think that showed a shifting sort of global innovative power.
The trend is no longer just catching up.
It is now really becoming the global tech leader.
And so that really changed the innovation landscape, in the sense that there will be more diverse innovation ecosystems that are not only just Western-dominant ones, And China is now leading in many critical areas, like new energy vehicles and AI, green tech and so on and so forth.
So that means transformation not only in China's own economy, but really in the global innovation ecosystem and global economy.
So that's why I think it is really significant.
And it also would really matter when it comes to going forward the kinds of global competition, but also cooperation.
So, in a way, this is kind of moment where the world is becoming more and more multipolar, not only in terms of the economic power, but now also in terms of technology, technological prowess.
And meanwhile, China also entered the global top 10 in innovation rankings, according to WIPO.
So how should we interpret that?
Is this about scale, quality or what else?
Well, I think it is indication that this is another sort of milestone, that for the first time since this Global Innovation Index was developed in 2007 This is really the first time a middle income country is able to be ranked in the top 10 in the global economies.
And the second next sort of the middle income country that it's India and it's ranked at 38th.
So the fact China is ranked in the 10th, I think this is quite remarkable.
And so this indicator is actually quite comprehensive.
So it looks at the science and innovation investments.
It looks at technological progress and technology adoptions, as well as social economic impact.
So in a sense, there are 80 different indicators.
And so I would agree that this is not just about the scale, which has to do with China's RD spending, as well as the patents that China is holding, as well as the larger amount of China's exports of high-tech goods, but it's also about quality.
The fact that China's innovation has been so productive and it has been able to really be adopted in various economic sectors and have strong social economic positive impacts.
And so that's why I think this indicator is important and that measures not just about China's scale of innovation, but really when it comes to its far-reaching positive impacts on its own economy, but also in the global economy.
And China emphasized the tighter integration between technological and industrial innovation.
So what makes China particularly effective at commercializing R&D?
I think this is a great question.
And I think that owes to both China's very coordinated strategy that the government is leading the way in designing and also envisioning the strategic sectors and funnel a lot of resources and supportive policies to cultivate these cutting edge technologies.
But more importantly, I think, with the state's coordinated strategies you also have the private sector.
That is very dynamic, very competitive and very innovative.
And they're able to amass talent and financial resources towards the goal of not only developing technologies, but quickly adopt technologies and diffuse technologies, rather than monopolizing the technologies for extra rent.
So I think this is a very different model, where technology is meant to promote the broader economic and societal goals rather than simply for maximization of private profits.
And last but not least, I think what is important is also China really has a very large market.
So there's a lot of demand for this kind of technology and technology embedded goods and services.
And China also has the very integrated and highly functional industrial base, which means any technological innovation can be much more easily being manufactured and being developed into products.
And so I think those are really the sort of successful ingredients for China to not only, you know, have the large amount of RD, but really commercialize RD and utilize technologies and diffuse the technologies to the broader economy and society.
And breakthroughs in AI, quantum computing, brain computer interfaces and aerospace are often cited.
So which of these areas are most critical for China's long term competitiveness, do you think?
Well, I would actually say all the above.
But if I have to pick some, I would say, you know AI, quantum computing, aerospace and some of the green technologies.
I think these are really essential. not only because these are really the emerging technological sectors, that there are a lot of room and space to make technological breakthroughs, but also because a lot of these are general purpose technologies, right?
Like AI, like quantum computing.
These technology can be quickly diffused and utilized in manufacturing sector, in service sector and so on.
So I think they're just having a lot of user cases, a lot of the ways for these kinds of technologies to be integrated into the broader economy.
And therefore, they're going to be much, much more influential, right?
Not only in terms of their own development, but also in terms of spillover effects to other sectors, and also in their effects in promoting overall productivity growth.
So I think those are really important to really think about, not just what are the cutting edge technologies, but really what are the broader applications and adoption of the targets of technologies.
And China is emerging as a global leader in artificial intelligence, with nearly half of the world's top AI use cases coming from the country.
This is according to the latest World Economic Forum report.
So what do you think has been driving China's AI development and applications?
Well, I think China definitely has a lot of advantages when it comes to AI development.
So, as we spoke in the past, because China has, you know, over half the world's AI talent, it's holding now 60 of the AI patent.
And China's model of developing AI is largely cost effective and it's also open sources, which means it will incentivize a lot of other companies and also, you know, from China, but also from abroad to adopt China's AI technologies and model and upgrade and tailor the uses of these AI.
And so build a very nice, the so-called network effect, right?
The more that the people are using China's AI models, the more there will be more development of the AI models and also AI embedded products.
And so I think all of these are really advantages.
But in addition to that, I think there are other really critical components that China possesses.
For example, large amounts of cost-effective renewable energies.
China now produces more than double the amount of electricity the United States produces, also at a quarter of the cost.
And as we all know, that AI is a really energy-intense technology.
So China is going to be able to have the kinds of technology, the kinds of energy sources to continue to support AI developments.
I think there are also other you know advantages, for example, the very coordinated again, policies that really combine, you know, the government's support in certain infrastructure and basic RD, as well as the private sector's dynamism and their innovation.
So I think a lot of unique advantages China has in terms of AI.
But also, I think importantly to point out that China has no intention of monopolizing the AI technology.
But I think China is really hoping to diffuse AI and to be able to bridge the AI gap.
And also China, has been promoting a more sort of a global governance structure to make sure that AI benefits human societies and try to mitigate some of the negative impacts that AI may bring forth.
Professor Yan Liang, joining us from Willamette University, talking with my colleague Zhao Yang.
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EU lawmakers have reportedly agreed to hold off on ratifying a key trade deal with the United States following President Donald Trump's tariff threats over Greenland.
The move would mark another escalation in tensions between the United States and Europe, as Trump intensifies his efforts to acquire Greenland.
Speaking at the World Economic Forum in Davos, U.S.
Treasury Secretary Scott Benson has urged European countries not to retaliate against the US tariffs.
The U.S.-EU trade deal was agreed in July last year after months of intense trade conflict.
EU leaders will hold emergency meeting on Thursday over the U.S. threats against the Greenland.
So joining us now on the line is Ina Tengen, Senior Fellow with the Center for International Governance Innovation.
Thank you very much for joining us, Ina.
A pleasure, Deng.
So of course I mean a delay in the EU's ratification of this particular trade deal would not really sink this deal, I guess.
But, on the other hand, what do you think is the core message that Brussels is hoping is trying to send to the White House?
Well, in an hour and a half from now, we're going to hear what Donald Trump has to say.
He's been hinting heavily that he's going to demand Greenland and that anybody who gets in his way is going to be subject to in Europe gets subject to an additional 10 tariff.
He says he's going to do that anyways.
So the EU is subjecting a message.
It's about unity, sovereignty, and calculated pressure.
You know, when you freeze this deal, Europeans sending a message saying This weaponizes uncertainty over the world's largest trade relationship.
It's $1.6 trillion in total trade and $4.7 trillion in mutual investments.
So this has two parts of the message.
They're saying they're not going to accept economic coercion, especially in matters like Greenland and things like that, and that the security partnership is not something that's for sale.
And second, it's real warnings.
That you know they have prepared 93 billion in retaliatory tariffs on sensitive US exports, like everything from aircraft cars, bourbon that are ready to activate.
So they're not just bluffing, despite the fact that you know you saw some mixed messages in terms of Macron and also Rutte.
You know sending love notes to Trump saying can't we work this all out?
You know, let's figure this out.
I don't think that's going to work in this case.
So they're ready to retaliate.
OK, so actually in Davos, we hear Scott Benson, the U.S.
Treasury Secretary urging his European audiences.
To quote sit back, take a deep breath and let things play out unquote.
He also said that the worst thing that countries can do is to escalate against the United States.
How would you look at his particular comment here?
Well, I mean, he's batting for the Trump team, so obviously he's telling them that if we kick you in the teeth and then slap you around, you should just stay calm and everything will work out.
I don't think anybody believes Scott Besant.
His approach is not going to help matters.
This is something you know, with Trump on the verge of saying that he demands Greenland.
As I said in my previous answer, this is not something that's up for negotiation or sale.
And Trump is putting together some very, very, very powerful forces against him on this.
Now remember, he can take on most entities, and he has.
And he can certainly pick off individual EU states as much as he likes or other parts of Europe.
But when it comes together and I told you 16 trillion in trade and over 47 trillion in mutual investments
This is not something you toy with.
It would have a huge impact on the American consumer, who are already, a lot of them over 50, facing what they call this death line, where one big crisis could literally wipe them out and they could find themselves homeless.
Hmm.
So, talking more about what you have just elaborated Ina, this US-EU trade deal would have somehow seen Washington slap 15 tariffs on EU goods, down from the 30 that President Donald Trump had initially threatened as part of his, you know, Liberation Day announcement in April last year.
And in exchange Europe had agreed to invest in the United States and make changes on the continent that would somehow be helpful to boosting US exports to the EU.
So what will the United States lose if this deal is put on hold on the side of the EU?
All right 750 billion in US energy products that were supposed to be sold, 40 billion in AI chips and, more critically, about 600 billion in terms of investment pledges from European companies into US strategic sectors.
This is the number Trump loves to run around and say you know look, I got trillions coming into the US.
Well, that's now not happening, and we don't know if it's going to happen, you know.
You've got to remember about they've done studies.
Ninety six percent of tariffs over you know, not the first day, but over a year are paid by US consumers.
Only four percent are being actually absorbed by the middlemen.
And nothing is being detracted from those who are selling it.
It doesn't matter if it's Vietnam or China.
So, I mean, this is really hitting them very hard.
That's about $1,100 per household annually, a long-term harm to U.S. economic growth.
Now, in the meantime, we understand there is also a saying being circulated that EU, as a way to retaliate, could stop lending to the United States and dump its holdings of US treasuries.
What is your take in this regard?
Well, this is mutual assured destruction.
I mean, Europeans hold about $4 trillion in U.S. treasuries and bonds and things like this.
A coordinated dump would spike US borrowing costs, but it would also devalue Europe's own assets and trigger a global financial crisis.
So I mean, this is, this is something that Scott Besant is trying to tell us is look, you don't have any moves.
You know, you do anything to hurt us and it's going to hurt you.
But you know, it's far more probable that they're going to go with their 93 billion in retaliatory tariff package and then use other regulatory tools.
They have this thing called that can trigger any kind of impact on them if they see it as a gross violation.
They can put in emergency tariffs on additional goods and services.
And this is one area that hasn't been talked about.
If the EU decides that they want to go after a soft spot in the US economy, it's going to be services.
Services is one of the areas that's a bright spot.
It's an area where the U.S. actually earns a surplus.
And if you go after that, that's going to cause a tremendous amount of pain.
So there are a lot of options that Europe has.
It doesn't want to use them.
But if Trump gets up today and says that either he gets Greenland or it's economic war, I think you're going to find it's going to be economic.
Thank you very much for joining us.
Ina Tengen, Senior Fellow with the Center for International Governance Innovation.
Coming up.
Trump and Putin's envoys call their divorce meeting regarding Ukraine positive and constructive.
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US and Russian officials have held what they call constructive close-door talks regarding the Ukraine conflict at the ongoing World Economic Forum in Davos.
The meeting has brought together Russian envoy Kirill Dmitriev and U.S.
Special Envoy Stephen Witikov and Jared Kushner.
Dmitriev described the discussions as positive, noting that more people are beginning to understand the position of Russia.
Witikov has echoed this particular tone, calling the talks very positive.
In the meantime, Ukrainian officials have held separate talks with their European counterparts on the sidelines of the forum.
The Office of the President of Ukraine has expressed cautious optimism about the peace process.
For more.
My colleague Xu Yawen spoke with Dr Alexei Muravyev, Associate Professor of National Security and Strategic Studies at Curtin University.
Alexei, the Russian envoy, called his meeting with US delegation constructive, while the US side described it as very positive.
Given President Trump's recent claim that President Putin is ready to make a deal and his blaming President Zelensky for the negotiation stalemate, what core demands of Russia might the US have responded to in order to earn such positive reveals?
Look, I think the fact that both sides described the meeting in Davos as positive indicates that both sides are satisfied that they continue the dialogue, because There have been concerns that this dialogue may be compromised by the US actions in Venezuela, not just with regards to taking prisoner Venezuela's President Nicolas Maduro, which has long been viewed as a longstanding and trusted allied partner of both Russia as well as China, but also the seizure of Russian-flanked oil tanker in the Northern Atlantic, which also resulted in the capture of a couple of Russian nationals, which were later released after Moscow demanded they released via diplomatic channels.
So these actions did put a question mark of whether the Trump administration had a shift towards Russia and decided to adopt a more hotline approach.
And the fact that the meeting and dialogue between Putin's envoy Dmitriev and Trump's Witkow took place and both sides seem to come out of the meeting sounding happy.
That suggests that they probably appreciate the fact that neither side decided to suspend communications, that the dialogue continues.
What exactly was discussed in the meeting is a different story.
And clearly after Russia demanded that all conversations with the United States behind closed doors remain private and not to be disclosed to public.
We can only speculate, But clearly, where the Russians are probably demonstrate willingness to negotiate is perhaps a degree of response to what the US side submitted to them after consultations with European allies as well as the Ukraine.
But again, it's really unclear to understand what exactly the Russians may have agreed to and where they are prepared to play hard bargaining game.
But given the circumstances being described by Russian President Vladimir Putin over the past month or so, it is quite clear that the Russians are not prepared to compromise on territorial concessions to the Ukrainians.
And certainly, I think, one of the continuous concerns for the Russians is the future strategic orientation of Ukraine, particularly with regards to its relationship with NATO.
Alexei, the Russian official said after the talks that here I quote more and more people are realizing the correctness of the Russian position.
What exactly does that mean?
Well, I think what he referred to is the fact that the Russians the applied systematic approach in describing what they refer to as the origins of the conflict regime change in Kyiv in late 2013, Ukraine's desire to join NATO, its ongoing conflict with separatists in eastern Ukraine, prohibition of Russian language as the second state-spoken language in Ukraine, persecution of Russian Orthodox Church under Moscow patriarchy, and the list goes on.
And I think what the Russians are referring to is the fact that not just the US administration but other countries began slowly turning around and began recognizing what the Russians are saying, not necessarily agreeing with them, but at least they began hearing that.
And, more importantly, it also needs to be understood in the context of the Europeans now saying that there is a need to resume a strategic dialogue with Moscow.
And that's been voiced not only by some outspoken leaders in Europe, such as leaders of Slovakia, for example, or Hungary, but it's coming from Italy, it's coming from Germany, even something that's been voiced by the French president, Emmanuel Macron.
So that in itself, I think, indicates to the Russians that they're achieving slow but steady breakthroughs, enforcing the Europeans back to negotiation stable.
And obviously that cannot be achieved if Europeans will not start understanding or hearing where the Russians are coming from in terms of their strategic concerns in the context of the ongoing war in Ukraine.
So I think that's another indicator of uh what the russians have been addressing.
Plus obviously, we need to understand the position of the so-called global south, where russia finds itself in a far more reciprocal position compared to its rocky relations with the west.
Oh, here's another thing.
Ukrainian delegations mentioned has been coordinating security guarantees with france, germany and the uk.
Looking at Europe's role, how do you think these countries are balancing their own security concerns with their support for Ukraine, especially when it comes to sharing a burden down the line, as well as adding up to the pressure of President Trump's recent threats over Greenland?
Well, if we talk about Greenland, I think Denmark finds itself in a very vulnerable position because it provided Ukraine with significant amount of military hardware, including F-16 tactical fighter aircraft.
And now it finds itself completely you know, indirectly speaking naked or exposed in light of Trump's demands to control Greenland.
So there's been a speculation that Denmark may actually demand to return its aircraft.
It handed over to the Ukraine so it can then dispatch them to safeguard airspace over Greenland, which I don't think will actually happen.
But it only highlights the fact that, given the current state of unpredictability and volatility in international relations, the Europeans, which now confront the situation when they have to question the reliability of the United States as the principal security guarantor, at least for the time being, have to revisit their own approaches and their own capacity to supply the Ukrainians with what they need, effectively reducing considerably their own stockpiles of weaponry, of munitions, to the point when they face another security contingency, they have real difficulty in addressing it.
And that goes against the backdrop of Europe slowly turning towards addressing the issue of munition production, weapons production, something that they didn't have to think since the height of the Cold War confrontation.
And if before they used to kind of relax under the United States security and defense umbrella, now that they realize that they have to basically claim a degree of sovereignty over their own security, but that requires enormous investments in the production of military hardware in national security and defense by and large,
And Europe, I think, is still struggling to do something like that.
And certainly they are getting increasingly alert about the fact that If they will continue with the current course, that actually sets themselves on a collision course with Russia.
So Europe finds itself sandwiched between Russia that's been fighting in the Ukraine for about four years and gained much-needed battle experience.
It mobilized its economy, so it knows how to find a prolonged conflict.
On the other hand, you have Ukraine.
Donald Trump with his own security agenda, which also compromises to some extent European security.
So they found themselves, you know, sandwiched between these two major powers.
Associate Professor Alexei Murovil from Curtin University in Australia, talking with my colleague Xu Yaowen.
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At the U23 Asian Cup.
China has entered the final for the first time, after defeating Vietnam 3 vs 0 in their semi-final.
In the first half of the game, neither team scored a goal.
After the break China took the lead with Peng Xiao, Xiang Yuwan and Wang Yudong, each gaining a point for the team.
And following this game, Chinese goalkeeper Li Hao continues with his run of clean sheets at the ongoing tournament.
China will face Japan in the finals.
So for more, joining us now on the line is Dong Jun, co-founder of EI Asia Limited.
Thank you very much for joining us.
So, so far, Team China has had five games in this tournament.
In the previous four games, we saw Chinese players placing more emphasis on defense.
But in this game with Vietnam, they did a better job in terms of a balancing between offense and defense.
And they also had more control of the ball, like 65% over the course of the first half of the game.
So why do you think this was the case?
And does this mean that this semifinal game was actually easier for China than the previous games?
I think this is a question being asked the past entire day after that surprising win.
I wish I could answer it why the semifinal turned out to be so unexpected, in terms of both the process and the result.
Well, it's obviously a happy surprise for China, but I guess it will remain very confounding and very difficult to swallow for Vietnam.
Although Vietnam's Republic of Korea coach acknowledged the defeat and paid a lot of credit to China's win.
But I think this very hard lesson for them will stay around for quite a while.
Obviously, China's head coach, Antonio Puget, had known his players quite well, after spending more than 50 days together, day by day, totally concentrated on their preparations through each match.
I mean in terms of especially what an alternative roster that we witnessed in the semifinal surprisingly, which surprised all of us without six starters in the previous stage.
And I think he knew very well that what this roster had, several different players would be able to do.
But of course it will also take a great deal of guts for the coach to try it, to test it in such a big game.
I mean, in the semifinal against the strong side from Vietnam.
And it will also take not only guts, it will take luck.
I think the luck turned out to be on the China side as a big reward.
And poor Vietnam, they were completely stunned.
They were unable to figure out how to react.
And don't forget, they entered into the tournament as a former runner-up.
They ranked considerably higher than China and swept all three opponents in the group stage with a perfect record in the group stage, before they knocked out the UAE.
So it's very difficult for Vietnam to figure out what went wrong, but they need to recover quickly in their third place match against the Republic of Korea.
Yeah, I guess that's exactly the charisma of this particular category of sports.
Sometimes you don't know what really went wrong, but you lose the game anyway.
So can you name a few Chinese players who have impressed you so far in this tournament?
And what is your expectation of the upcoming final between China and Japan?
Well, I think, for me and for many of us who witnessed the previous four matches four or five matches, I think number one obviously is the goalkeeper Lee Hao, an outstanding hero with a clean record with numerous blocks rescues, in addition to the heroic saves in China's quarterfinal shootout upset of former champion Uzbekistan.
No doubt about that.
Li Hao is so far the best goalie into this tournament among all 16 teams.
And another one is called Peng Xiao, a central defender as a defender, but he scored China's only goal in the group stage, in all three matches in the group stage, to clinch a crucial win over Australia.
And then astonishingly, he scored the first goal against Vietnam once again.
What a guard with a big heart while all the other players and teammates up front couldn't score.
But he scored the first two goals for the team into this tournament.
So Li Hao and Peng Xiao are obviously the brightest stars so far.
And when they play against Japan on Saturday, I am more practical.
I mean, I'm realistic to expect China to return to the original and also deserved position at the underdog?
No doubt about that.
I think anything is possible, of course, in soccer.
But defending champion Japan has been dominant so far in South Korea.
Arabia, scoring you know so many goals nine or 10 or maybe 11, allowing so little, I mean so few goals.
Only one chasing.
They are chasing their third Asian under 23 cup titles, their third.
They are the defending champions and they are back into the final again.
Japan also went through penalty shootout in the quarterfinals.
So they are not unfamiliar.
I mean, they are already quite warmed up for a penalty shootout.
And also another big advantage I mean a warning for China is Japan must be learning a lot from the surprising defeat suffered by Vietnam.
If China once again comes up with another roster, with a different tactic well, I think Japan will be quite prepared.
You cannot surprise different opponents with the same strategy or the same roster.
But it doesn't mean China doesn't stand a chance.
China will fight through the end, but I guess China will probably return to a more defensive style in the final.
Okay, so Dongjing, our time is quite limited today.
I hope I could have more time with you.
But the final question at a time when the overall competitiveness I mean the hard power of China's national football team is at a relatively low point, do you think the relative success of Team China this time around offers any guiding spirit to China's future soccer development?
I absolutely agree with you.
I think it's a morale booster.
It reminds us that while we are so low in our morale, I think we can see when.
Put together finally and play smartly, China can still do something.
And with the wins, China can move up on the ranking ladder and that will improve our confidence.
But don't forget.
I think the greatest potential for China not lies in the national teams, but on the grassroots level.
Don't forget Suzhou and all those.
They are the surprising development in Chinese soccer.
Once we have such a huge base of amateur football and we can have a lot of expectations for the national teams, for the professional teams in the future.
Yeah, at least we can further boost the soccer population of China, that's for sure.
But thank you very much for joining us.
Dong Jun, co-founder of EI Asia Limited.
That's all the time for this edition of World Today.
I'm Ding Han in Beijing.
Thank you so much for listening.
Bye for now.
