China News & Trends
Being from the East gives us a competitive edge: Sano Takeshi
Takeshi Sano was recently in India. Sano took over as CEO of Densu Japan in January of this year and will shortly take on a new role as the network's deputy global COO. In the past 11 months, the ambitious Sano claims to have exchanged business cards with 2,900 people. Sano met more than 100 people at an event for the agency's clients while in India. Quotes from a discussion in which Yuichi Toyoda, global practice president of business transformation, and Harsha Razdan, CEO of Dentsu South Asia, also participated:For our Japanese clients, India is becoming a more significant strategic market. Of course, we care about the markets that matter to our clients. Additionally, a large number of Japanese customers intend to visit India, one of the economies with the quickest rates of economic growth. We hosted an event for our about 100 Japanese clients during my visit to demonstrate to them our combined strength from Dentsu Japan and Dentsu India. We wanted to let them know that we would also find a method to help them from Japan.Additionally, we wanted to inform the clients that Dentsu Japan is a partner for business transformation (BX) and customer experience (CX) in addition to being an advertising agency.In August, we introduced the Dentsu BX in India. We create creative strategies and solutions that tackle the intricate problems that our clients encounter by fusing marketing, technology, and consulting. Next year, we also want to open our R&D lab, Dentsu Labs, in Bengaluru and Mumbai. Since its founding in Japan in 2014, Dentsu Labs has begun to grow internationally, beginning in the EMEA (Europe, the Middle East, and Africa) region this year. It will hasten the development of innovations for society, businesses, and consumers.
Published 17 Dec 2024 08:32 PM
Moves and win roundup: Week of January 2, 2024
The media agency for Publicis Groupe, Starcom, has announced a new win: starting in 2024, Starcom Indonesia will serve as BMW Group's media agency of record, joining Starcom in China and Singapore, which will continue to hold that title in their respective regions. As the media agency of record in these markets, Starcom will oversee strategic planning, media buying, and business transformation for all of BMW Group's most iconic brands, including BMW and Mini, after a regional media assessment by BMW Group.Former chief marketing and customer officer of AXA Hong Kong Andrea Wong has left the company to become senior vice president of group marketing and communications at Shangri-La Group. As stated in a LinkedIn post, Wong will work with new colleagues “to further strengthen the hotel brands, create impactful marketing campaigns and PR efforts, and further build up the Shangri-La Circle propositions to deliver superior customer experience.” She will report to Kuok Hui Kwong, the chairman of the group. Wong joined AXA in 2008 and has worked there for more than 20 years. She was appointed CMO of AXA Hong Kong and Macau. To improve its social media marketing service, Innocean has formed a social marketing organization called Innocean S, which is scheduled to open for operation in January 2024. Span Wealth is the newest client of Human, an integrated agency based in Mumbai that was created by Imran Khan and Chirag Raheja. The agency's brief calls for giving the brand a fresh look, incorporating classic elegance, and developing an influential, forward-thinking online presence. With more than 500 crores of assets under management, Span Wealth is a wealth management firm situated in Mumbai. Dorothy Peng announced on LinkedIn that she has become a partner at Deloitte Consulting in Singapore. Peng will be focusing on design and customer strategy in Southeast Asia. She spent more than eight years as an employee of RGA before joining Deloitte. In 2015, she started working for the agency as a group account director. In 2022, she received a promotion to SVP managing director Asia.
Published 24 Jan 2024 12:50 PM
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Today's stock market: Asian stocks are divided as Wall Street emerges from its holiday-season slump
HONG KONG (AP) — Following Wall Street's recovery from the holiday season blues, Asian stocks are uneven, with markets in China and Tokyo seeing declines.As Tokyo's market reopened following the lengthy customary holiday, the finance minister of Japan rang in the New Year, and employees wearing suits and kimonos applauded for good fortune in 2025.Katsunobu Kato, the finance minister, declared that the Japanese government would take action to assure economic growth driven by investment and salary rises. He also promised to "grasp signs of recovery" and make sure that "every single citizen can feel the improvement in their salaries."Much of Asia has been wary of possible changes under President-elect Donald Trump, who has pledged to drastically increase tariffs on imports from China and other nations, which might impede growth for a region that depends significantly on trade. After U.S. President Joe Biden turned down Nippon Steel's roughly $15 billion offer to buy Pittsburgh-based U.S. Steel Corp., the company was predicted to file a lawsuit. On Monday, Nippon Steel's stock dropped 0.7% in Tokyo. On Friday, U.S. Steel's stock fell 6.5%. Hong Kong's Hang Seng fell 0.5% to 19,654.82, while Tokyo's benchmark Nikkei 225 index fell 1.6% to 39,258.25. At 3,194.20, the Shanghai Composite index fell 0.5%.
Published 06 Jan 2025 10:33 PM
A significant change in China's monetary policy sparked a stock market boom. Yet 'a lot of instability' remains a threat.
Monday saw a surge in Chinese stocks following the nation's indication of a more aggressive stimulus plan for the upcoming year. According to China state media Xinhua News Agency, Beijing's senior leaders announced they will adopt a "more proactive" fiscal policy and a "moderately loose" monetary policy.Hui Shan, the chief China economist at Goldman Sachs, wrote in a note to clients on Monday, "We view the outcome as an upside surprise due to stronger easing rhetoric, relative to the low market expectations prior to the meeting." The team also anticipates the announcement of "more concrete demand-side stimulus measures" early next year. Interestingly, the economist notes that China last referred to its monetary policy stance as "moderately loose" in 2009–2010.Following the remarks, Hong Kong's benchmark Hang Seng Index (^HSI), which is dominated by huge Chinese stocks, increased by almost 3% on Monday. The upward movements were echoed by other Chinese-listed corporations and exchanges. On Monday, China's benchmark CSI 300 (000300.SS) increased by more than 1%. Chinese e-commerce behemoths Alibaba (BABA), PDD Holdings (PDD), and JD.com (JD) also saw at least 9% increases in their stock prices. XPeng (XPEV, 9868.HK), a Chinese manufacturer of electric vehicles, too had double-digit growth, increasing by about 14%.
Published 10 Dec 2024 11:07 PM
China is constructing the biggest artificial island airport in the world.
The largest airport in the world on an artificial island is another impressive addition to China's aviation portfolio.According to an airport statement, the Dalian Jinzhou Bay International Airport, which is currently being built off the northeast coast of the country, will eventually span a 20-square-kilometer (7.7-square-mile) island with four runways and a passenger terminal that is 900,000 square meters (969,000 square feet).With the first phase scheduled to open in 2035, its operators hope to handle 80 million people annually across 540,000 flights.According to a tweet made by Dalian Jinzhou Bay International on the Chinese social networking site WeChat, "The nation's largest offshore airport is slowly rising from the sea level like the sunrise in the east."When finished, it will surpass Japan's Kansai Airport (KIX) and Hong Kong International Airport (HKG) as the largest airport on an artificial island in the world. Li Xiang, chief engineer of Dalian Airport Construction and Development Co., Ltd., told state-run local media in October that the project had experienced significant difficulties due to its complex geological conditions, high drilling difficulty, high quality demand, and tight construction schedule. The 7.5 million-person metropolis of Dalian has traditionally served as a transportation hub because of its close proximity to South Korea and Japan. According to Yicai, a state-affiliated daily, Dalian Zhoushuizi Airport, the city's international airport that has been in operation for almost a century, has already reached its maximum capacity and has undergone multiple expansions in recent years. According to state-run local media, the city began site selection and demonstration work on the new airport in 2003, but building only really got underway a few years ago. The expansion of China's aviation industry is mostly due to new airports. The nation is poised to overtake the US as the largest air travel market globally. Daxing (PKX), Beijing's second airport, opened with much fanfare on October 1, 2019, the 70th anniversary of the People's Republic of China's founding. Chinese officials at the time stated the
Published 19 Dec 2024 11:08 PM
"LAC Situation Stable But Sensitive, No Friction In A Year" : the Army Chief of Staff
There haven't been any more areas of friction between China and India in the past year, Chief of Army Staff General Manoj Pande stated on Monday, despite maintaining that the situation along the Line of Actual Control (LAC) is stable "but sensitive." The Chief of Army Staff stated in an interview with ANI that since April 2020, there have been 20 meetings of senior higher military commanders and 14 meetings of the Working Mechanism for Consultation and Coordination on China-India Border Affairs.The Line of Actual Control (LAC) situation is sensitive but stable. We haven't had any more conflict areas in this over the past year or so. Regarding our efforts to find a solution, we are still in communication and dialogue with the enemy on a military and diplomatic level, General Pande stated."Since April 2020, we have held 14 WMCC meetings and 20 senior higher military commander level meetings," he stated. We therefore hope that through these discussions, a solution can be reached." The 3,488 km border between India and China passes through Arunachal Pradesh, Himachal Pradesh, Uttarakhand, Sikkim, and Jammu and Kashmir. Since May 2020, when the Chinese troops tried to aggressively change the status quo on LAC in eastern Ladakh, both sides have been deployed in forward positions near Patrolling Point 15, which emerged as a friction point in the wake of the Galwan clash.General Pande gave a briefing on the Army's readiness levels along the northern border, stating, "We are maintaining adequate reserves to be able to deal with any contingencies and our deployment remains robust as well as balanced." "As all of this is going on, we are also concentrating on strengthening our capacity in these domains by introducing better systems, modernizing our fleet, and introducing safer vehicles, drones for surveillance, improved radio sets for communication, etc. We are concentrating on and exerting effort on infrastructure development at the same time. Be it the habitat, forward connectivities to the LAC, or strategic road connectivity...it also includes extending power supply to our forward troops, improving communication in terms of 5G communication to our troops deployed in forward areas," the Army chief said. "We are also working alongside other government agencies, local administration and the local population to make sure that our preparedness levels along the LAC always remain high," he stated.
Published 29 Jan 2024 05:14 PM
Chinas changes to its monetary policy to support economic recovery
A number of monetary policy changes were announced by the People's Bank of China (PBOC) on Wednesday with the goal of boosting liquidity and encouraging national economic expansion. Reducing the reserve requirement ratio (RRR) is one of the PBOC's primary actions. The RRR is the amount of cash that banks are required to hold as reserves. The PBOC will lower the RRR by 0.5 percentage point, effective from February 5, 2024. This move will inject 1 trillion yuan ($139.45 billion) into the market, thereby increasing liquidity. Beginning on January 25, 2024, the PBOC will reduce the re-lending and rediscount rates by 0.25 percentage points, from 2 percent to 1.75 percent, in addition to the RRR reduction. It is anticipated that this cut will lower social financing's overall cost, accelerating economic recovery. The announcement of these policy adjustments has had a positive impact on the Chinese stock market. Following the news, the Shanghai Composite Index climbed by 1.80 percent, while the Shenzhen Component Index and the ChiNext Index increased by one percent and 0.51 percent, respectively.JLL Greater China's chief economist and head of research, Bruce Pang, emphasized the PBOC's dedication to a steady and exacting monetary policy. The goals are to support credit allocation to the real economy, guarantee stable liquidity in the banking system, and lower funding costs for financial institutions. In spite of the challenges posed by the global economy, financial institutions and markets in China remain stable, as PBOC Governor Pan Gongsheng reassured.The PBOC plans to enhance its financial risk monitoring and assessment capabilities. It seeks to create a system for resolving financial risks that strikes a balance between accountability and authority. This initiative reflects the PBOC's commitment to managing financial risks and maintaining stability in the face of global economic challenges. The PBOC plans to use a range of monetary policy instruments in the future to ensure that there is enough liquidity. Aligning the money supply and social financing with targets for price level and economic growth is the aim. Additionally, the PBOC wants to enhance financial services for the actual economy, especially by helping small and private companies. Zhu Hexin, deputy governor of the PBOC and head of the State Administration of Foreign Exchange, predicts that the stability of China's cross-border capital flows will further improve in 2024. The current account is expected to maintain a reasonable surplus, with an increase in foreign capital inflows under the capital account.The recent monetary policy adjustments by the PBOC reflect China's proactive approach to navigating its economic trajectory amid global uncertainties. By reducing the RRR and cutting re-lending and re-discount rates, the PBOC aims to enhance liquidity, support economic growth, and ensure stability in the banking system.
Published 24 Jan 2024 05:46 PM
Chinese envoy finds it unacceptable that the Israeli leadership is rejecting the two-state solution.
" A Chinese envoy stated on Tuesday that the Israeli leadership's rejection of the two-state solution is intolerable. Chinese permanent representative to the UN, Zhang Jun, stated that the two-state solution is the only practical means of bringing peace to Palestine and Israel and that it is also a serious prerequisite for the execution of pertinent Security Council resolutions. Chinese envoy stated on Tuesday that the Israeli leadership's rejection of the two-state solution is intolerable. Chinese permanent representative to the UN, Zhang Jun, stated that the two-state solution is the only practical means of bringing peace to Palestine and Israel and that it is also a serious prerequisite for the execution of pertinent Security Council resolutions.The remarks made by the Israeli leadership last week, which rejected the two-state solution and denied Palestine the right to become a state, give us great concern. This is intolerable,"" he declared during a high-level Security Council open discussion. Chinese envoy stated on Tuesday that the Israeli leadership's rejection of the two-state solution is intolerable. The process of establishing an independent Palestinian state must be final. China is in favor of Palestine's immediate full membership in the UN as a first step in the process. Under the current circumstances, the Security Council needs to send a clear and unequivocal signal, reaffirming the urgency of the two-state solution as the sole feasible way out, he said. Chinese envoy stated on Tuesday that the Israeli leadership's rejection of the two-state solution is intolerable. Zhang stated that for the time being, an immediate cease-fire must be given top priority. Extended hostilities will only increase the death toll and further distance us from peace. An instantaneous ceasefire is a necessity for all parties, not just one specific party. He stated that it is a fundamental requirement for achieving peace, freeing hostages, extending humanitarian aid, and saving lives. Israel needs to stop destroying Gaza and launching indiscriminate military attacks on it right away. He said that all pertinent members of the international community ought to use diplomacy to encourage an instant ceasefire.Chinese envoy stated on Tuesday that the Israeli leadership's rejection of the two-state solution is intolerable. All possible measures should be taken to stop the situation from spreading to the Red Sea and the surrounding areas while advocating for a ceasefire in Gaza. He said that China urges all sides to use caution and refrain from taking any steps that might cause the tension to rise. Zhang demanded that steps be taken to remove barriers that stand in the way of the expansion of aid to Gaza. The full implementation of Security Council Resolutions 2712 and 2720 is imperative. And Israel needs to help with that 100%. He stated that in order to guarantee safe, prompt, and unimpeded humanitarian access to Gaza, the Security Council should be prepared to act further. "
Published 24 Jan 2024 05:32 PM
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BRICS Summit, 2024, at night After six years, Narendra Modi and Chinese President Xi Jinping will have formal meetings.
During the BRICS summit in Russia on Wednesday, Chinese President Xi Jinping and Prime Minister Narendra Modi will have their first formal meeting since border tensions broke out in eastern Ladakh in May 2020, according to PTI.A day after China and India reached a deal on military patrols along the Line of Actual Control (LAC) in eastern Ladakh, Foreign Secretary Vikram Misri made the statement. According to the newspaper, the agreement is regarded as a significant step in attempts to resolve the four-year military standoff between the two countries. "I can confirm that there will be a bilateral meeting between PM Modi and President Xi Jinping tomorrow (Wednesday) on the sidelines of the BRICS Summit," Misri was quoted as saying by PTI.This will be Modi and Xi's first formal meeting since tensions erupted along the border, notwithstanding their brief niceties at the 2022 G20 summit in Indonesia. According to a PTI report, the two leaders last spoke casually during the BRICS meeting in Johannesburg in August 2023.
Published 23 Oct 2024 05:46 PM
Says Chinas Xi, Putins Re-Election Fully Reflects Russian Peoples Support
Chinese President Xi Jinping informed his Russian counterpart that his reelection "fully reflects the support of the Russian people" in a congrats letter sent on Monday, according to Beijing's official media. As of Monday, official election data indicated that Putin had received 87.33 percent of all votes cast, with 99 percent of polling places having submitted results, as reported by state news agency RIA. In a presidential election where he had no real competition, Putin achieved a record-breaking win, despite the polls' criticism.Xi addressed Putin, saying, "Your re-election fully reflects the support of the Russian people for you," as reported by state broadcaster CCTV. "In recent years, the Russian people have united as one to overcome challenges and move forward steadily on the road to national development and revitalisation," according to Xi. "I believe that under your leadership, Russia will be able to achieve greater achievements in national development and construction," he stated. "China attaches great importance to the development of China-Russia relations and is willing to maintain close communication with Russia to promote the sustained, healthy, stable and in-depth development of (bilateral ties)," said Xi.bolster relationships According to Russian state news agency TASS, Putin praised Beijing, his important ally, saying he was "sure that in the coming years we will only strengthen and build up our relations and achieve common successes for the benefit of the Chinese and Russian peoples." "The alignment of state interests is the most crucial factor. According to reports, Putin said, "This sets a very good tone for solving common problems in the field of international relations."
Published 18 Mar 2024 05:27 PM
President Muizzu of the Maldives arrives in China for a closely monitored state visit
The visit to China by Maldivian President Mohamed Muizzu takes place against the backdrop of a diplomatic spat between India and the Maldives following remarks made disparagingly about Prime Minister Narendra Modi. At the invitation of Chinese President Xi Jinping, Maldivian President Mohamed Muizzu landed in China on Monday and will stay for five days till January 12, according to an official announcement.During his visit, Muizzu is also expected to meet with business executives and senior Chinese government officials at the "Invest Maldives Forum," according to the presidency. China is currently the Maldives' biggest creditor; Male owes Beijing around $1.3 billion in debt obligations. Beijing is among the nation's largest investors and economic partners; in 2017, the two governments signed a Free Trade Agreement (FTA). The Maldives has also ratified the Belt and Road Initiative (BRI), which is supported by Beijing.
Published 17 Jan 2024 06:38 PM
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AI will be used by the Japan Sports Agency to help athletes
Published 06 Jan 2025 09:18 PM
China is on the verge of a shocking Asian Cup exit, while Tajikistan is making history
Published 24 Jan 2024 05:11 PM
Chinese chess champion allegedly used anal beads and was banned for a year after pissing in the bathtub" After defecating in a bathtub and being accused of cheating, 48-year-old Yan Chenglong, the rec
Published 16 Jan 2024 01:48 AM
Events
BRICS Summit, 2024, at night After six years, Narendra Modi and Chinese President Xi Jinping will have formal meetings.
During the BRICS summit in Russia on Wednesday, Chinese President Xi Jinping and Prime Minister Narendra Modi will have their first formal meeting since border tensions broke out in eastern Ladakh in May 2020, according to PTI.A day after China and India reached a deal on military patrols along the Line of Actual Control (LAC) in eastern Ladakh, Foreign Secretary Vikram Misri made the statement. According to the newspaper, the agreement is regarded as a significant step in attempts to resolve the four-year military standoff between the two countries. "I can confirm that there will be a bilateral meeting between PM Modi and President Xi Jinping tomorrow (Wednesday) on the sidelines of the BRICS Summit," Misri was quoted as saying by PTI.This will be Modi and Xi's first formal meeting since tensions erupted along the border, notwithstanding their brief niceties at the 2022 G20 summit in Indonesia. According to a PTI report, the two leaders last spoke casually during the BRICS meeting in Johannesburg in August 2023.
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China is prepared to increase cooperation with Mongolia and Russia.
Reuters, Beijing, October 16 At a meeting with his neighbors on the sidelines of a Shanghai Cooperation Organization (SCO) summit on Wednesday, China's Premier Li Qiang suggested further three-way relations with Russia and Mongolia, according to official media.In recent years, the three have become closer. This year, China and Mongolia both threw open their arms to Russian President Vladimir Putin, just as Moscow did for China's Xi Jinping in 2023, and Beijing did the same for Mongolia's president.According to the official news agency Xinhua, Li, China's second-ranking official, stated that "China is ready to work with Russia and Mongolia to further enhance mutual trust, strengthen coordination and promote deeper... trilateral co-operation."He was addressing L. Oyun-Erdene, the prime minister of Mongolia, and Mikhail Mishustin, the prime minister of Russia.Since 2004, Mongolia has opted to remain an observer state and is not a member of the SCO, a China-led Eurasian security bloc. Nevertheless, China is still gently pressuring its smaller neighbor to join the ten-nation bloc. Officials from the United States are also pursuing the resource-rich, landlocked nation, which has pledged to invest in its heavy industry and mining. However, Washington criticized Ulaanbaatar for hosting Putin in September despite the International Criminal Court in The Hague issuing an arrest order for him. If the Russian president enters any of the 124 nations that make up the court's membership, including Mongolia, he is often required by such a warrant to be arrested and taken to the Hague for trial.A large pipeline that Russia intends to construct to transport 50 billion cubic meters of natural gas annually from the Yamal area to China passes through Mongolia. Li told Mishustin in a separate meeting that China was open to deepening its energy and commerce relations with Russia, according to Chinese state media.
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ChinaJoy 2024 Mobile App Advertising Event
What is ChinaJoy Event and all about the event? Shanghai, China hosts ChinaJoy, officially known as the China Digital Entertainment Expo and Conference, every year as a digital entertainment event. This exhibition is the biggest of its kind in Asia and China for video games and digital entertainment. Organizers: Game Connection & ChinaJoy Date: 26-28 July, 2024 Venue: Shanghai New International Expo Centre (SNIEC) ADZ Junction Media Exhibition Details: Booth #IG-061, Hall #5 at ChinaJoy ChinaJoy, 2024 event is divided and categorized in two parts which are: - Indie Game Expo: To present their games and network with publishers and investors, foreign game creators are welcome to come to ChinaJoy's exclusive Indie Game Expo. Indie Game Development Awards: submit your games for publisher assessment and win one or more to gain the recognition you deserve. Why China Joy? A major event for the digital entertainment sector, China Joy showcases the newest in gaming, hardware, software, and related services. It serves as a center for knowledge sharing, networking, and looking into new business ventures. With cutting-edge trends and technologies on exhibit, this year looks to be especially intriguing.What is ChinaJoy Event and all about the event? Shanghai, China hosts ChinaJoy, officially known as the China Digital Entertainment Expo and Conference, every year as a digital entertainment event. This exhibition is the biggest of its kind in Asia and China for video games and digital entertainment. Organizers: Game Connection & ChinaJoy Date: 26-28 July, 2024 Venue: Shanghai New International Expo Centre (SNIEC) ADZ Junction Media Exhibition Details: Booth #IG-061, Hall #5 at ChinaJoy ChinaJoy, 2024 event is divided and categorized in two parts which are: - Indie Game Expo: To present their games and network with publishers and investors, foreign game creators are welcome to come to ChinaJoy's exclusive Indie Game Expo. Indie Game Development Awards: submit your games for publisher assessment and win one or more to gain the recognition you deserve. Why China Joy? A major event for the digital entertainment sector, China Joy showcases the newest in gaming, hardware, software, and related services. It serves as a center for knowledge sharing, networking, and looking into new business ventures. With cutting-edge trends and technologies on exhibit, this year looks to be especially intriguing. Read more about the upcoming biggest event of 2024 which is happening in Shanghai, Chaina at the end of July, 2024.
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Qiang New Year: A lavish celebration of peace, agriculture, and customs
The largest and most significant customary celebration for the Qiang ethnic group is the Qiang New Year Festival, which typically takes place on the first day of the tenth month in the conventional Chinese calendar. The main themes of Qiang New Year are blessings, peace prayers, and harvest celebration. The straightforward and antiquated ceremonial practices create a distinctively rich cultural ambiance that embodies the peculiarities of Qiang culture. The Qiang people are a long-standing ethnic group with thousands of years of history. Their distinct traditional culture has developed as a result of living in high mountain valleys and a secluded, closed environment; Qiang New Year is one such example.Although the history of the Qiang New Year is unknown, it is believed to have started earlier than the Qin Dynasty (221-207 BC). It is a comprehensive folk festival that blends religious beliefs, historical legends, music, dance, and cuisine because of the solemnity of its rituals and the meticulousness of its sacrifices, particularly in the ceremonies. Its content reflects early agricultural activities in large part, with many cultural artifacts from the hunting and nomadic periods remaining. When Qiang New Year arrives, each village holds elaborate celebrations, usually lasting from three to five days, and in some villages as long as 10 days, with slight variations from region to region. The main events of the celebrations are entertainment and sacrifices. The sacrificial activities include offerings to heaven, earth, ancestors, and village deities, while the entertainment includes feasting, drinking, enjoying delicacies, singing and dancing. The Qiang New Year Festival was acknowledged for its significance and the need for its preservation in 2009 when it was added to UNESCO's Representative List of the Intangible Cultural Heritage of Humanity.
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Each State may field a tableau once every three years under the new R-Day agreement; the Maldives signs 20 deals with China amid a diplomatic spat with India, and more
A Taiwan-based Buddhist monastic order based in Delhi has been authorized to accept foreign donations under the Foreign Contribution (Regulation) Act (FCRA), 2010. For its "religious, cultural, economic, educational, and social" agenda, the Fo Guang Shan Cultural and Educational Center has been registered with the FCRA. In the first month of the year, thirty associations and Non-Governmental Organizations (NGOs) were awarded FCRA registration.Following talks between Maldivian President Mohamed Muizzu and Chinese President Xi Jinping on Wednesday, the two nations inked 20 important agreements, including one on tourism collaboration, elevating their bilateral ties to a comprehensive strategic cooperative partnership. The two chiefs of state declared the elevation of bilateral ties to a Comprehensive Strategic Cooperative Partnership, state-run Xinhua news agency said.The Maldivian President's office stated in a post on X that "20 key agreements were signed today between the Government of the Maldives and the Government of China this afternoon and both the Presidents witnessed the signing ceremony." One tourism cooperation agreement, catastrophe risk reduction, the blue economy, bolstering investment in the digital economy, and the Belt and Road Initiative were among the agreements signed. The Maldives will also get grant support from China, albeit the precise sum was not made public. At the Great Hall of People, Muizzu and his spouse Sajida Mohammad were greeted ceremoniously on the red carpet. Later, in honor of them, President Xi and his spouse Peng Liyuan gave a state banquet. Muizzu's official visit to China coincides with a diplomatic dispute between India and China over disparaging remarksBefore returning to Male on January 12, Muizzu is anticipated to meet with senior authorities and Chinese Premier Li Qiang in addition to his discussions with Xi. Muizzu spent two days in the Chinese city of Fujian before arriving in Beijing last night. During his Tuesday speech at the Maldives Business Forum in Fujian Province, Muizzu urged China to "intensify" its efforts to increase the number of visitors to his nation. In the midst of a diplomatic spat with India over disparaging remarks made by his ministers against Prime Minister Narendra Modi, Muizzu is on a state visit to China. The report, which was released by the EU Election Observation Mission of the Maldives, claims that the ruling coalition of the People's National Congress (PNC) and the Progressive Party of the Maldives (PPM) used anti-India sentiments and attempted to spread disinformation during the 2023 presidential elections, which Muizzu won.Considered a pro-China leader, Muizzu is currently in China amid the conflict with India sparked by some Maldivian ministers posting disparaging remarks about Prime Minister Modi. This caused a wave of Indian tourists, who make up the majority of visitors to the island nation dependent on tourism, to cancel reservations.Before returning to Male on January 12, Muizzu is anticipated to meet with senior authorities and Chinese Premier Li Qiang in addition to his discussions with Xi. Muizzu spent two days in the Chinese city of Fujian before arriving in Beijing last night. During his Tuesday speech at the Maldives Business Forum in Fujian Province, Muizzu urged China to "intensify" its efforts to increase the number of visitors to his nation.
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Putin directs Russia's leading bank and government to work with China on AI.
Vladimir Putin promised to "ensure further co-operation with the People's Republic of China in technological research and development in the field of artificial intelligence" to the government and Sberbank, which is leading Russia's AI initiatives. According to the UK-based Tortoise Media's Global AI Index, Russia is now ranked 31st out of 83 countries in terms of AI deployment, innovation, and investment. This places it far behind China, the United States, and other BRICS nations like Brazil and India.The Russian government and Sberbank, the nation's largest bank, have been instructed by President Vladimir Putin to expand their artificial intelligence collaboration with China. Three weeks after Putin declared that Russia would collaborate with BRICS partners and other nations to create artificial intelligence, his directives were posted on the Kremlin's website on Wednesday. To "ensure further co-operation with the People's Republic of China in technological research and development in the field of artificial intelligence," he advised the government and Sberbank, which is leading Russia's AI efforts.The world's leading manufacturers of microchips have stopped exporting to Russia as a result of Western sanctions meant to limit Moscow's access to the technologies it needs to continue its war against Ukraine, significantly limiting its aspirations in the field of artificial intelligence. In 2023, German Gref, the CEO of Sberbank, admitted that the most difficult hardware for Russia to replace was graphics processing units (GPUs), which are the microchips that support AI development.
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Today's stock market: Asian stocks are divided as Wall Street emerges from its holiday-season slump
HONG KONG (AP) — Following Wall Street's recovery from the holiday season blues, Asian stocks are uneven, with markets in China and Tokyo seeing declines.As Tokyo's market reopened following the lengthy customary holiday, the finance minister of Japan rang in the New Year, and employees wearing suits and kimonos applauded for good fortune in 2025.Katsunobu Kato, the finance minister, declared that the Japanese government would take action to assure economic growth driven by investment and salary rises. He also promised to "grasp signs of recovery" and make sure that "every single citizen can feel the improvement in their salaries."Much of Asia has been wary of possible changes under President-elect Donald Trump, who has pledged to drastically increase tariffs on imports from China and other nations, which might impede growth for a region that depends significantly on trade. After U.S. President Joe Biden turned down Nippon Steel's roughly $15 billion offer to buy Pittsburgh-based U.S. Steel Corp., the company was predicted to file a lawsuit. On Monday, Nippon Steel's stock dropped 0.7% in Tokyo. On Friday, U.S. Steel's stock fell 6.5%. Hong Kong's Hang Seng fell 0.5% to 19,654.82, while Tokyo's benchmark Nikkei 225 index fell 1.6% to 39,258.25. At 3,194.20, the Shanghai Composite index fell 0.5%.
Published 06 Jan 2025 10:33 PM
When it comes to humanoid robots, China leads the way.
China is quietly changing the game by not only integrating robots into everyday life but also advancing their industrial uses by lowering costs and pushing boundaries. US star Kim Kardashian may have drawn attention by bringing humanoid robots shopping.With products like Xiaomi's futuristic CyberOne and UBTech's nimble Walker X, domestic innovations are transforming sci-fi fantasies into "tangible tech" and making a big impact on the market.The AI Plus plan, which aims to develop future industries, including humanoid robots, while bolstering the country's scientific and technological edge, was also prominently featured at the historic Central Economic Work Conference in December.Humanoid robots are predicted to become yet another "disruptive product" following computers, smartphones, and new energy vehicles, according to Xu Xiaolan, a former vice-minister of industry and information technology and member of the Standing Committee of the Chinese People's Political Consultative Conference National Committee."Currently in China, new technologies, products and formats represented by humanoid robots and general artificial intelligence are thriving and becoming the pinnacle of global technological innovation, a new track for future industries and a new engine of economic growth," she stated. China's fast expanding humanoid robot market is expected to generate $2.9 billion in sales revenue in 2024 and soar to around $46.31 billion by 2031, at a startling compound annual growth rate of 48.6 percent, according to market consultancy Coherent Market Insights. According to Jiao Jichao, vice-president and executive dean of the research department of UBTech Robotics, "If we compare the humanoid robotics industry to a marathon, China and Western countries are all within the first 1,000 meters of the starting line." The first humanoid robot in China to perform full-process handling duties at an automobile production was Walker S, created by the Chinese artificial intelligence and humanoid robotics company UBTech. Additionally, the business struck a collaboration deal with Beijing Embodied and Audi FAW.
Published 06 Jan 2025 10:30 PM
AI will be used by the Japan Sports Agency to help athletes
Tokyo It has been learned that the Japan Sports Agency intends to update their athlete-strengthening strategy in March, reformulating their policies to specifically include the use of AI in the training of elite athletes for the first time, with an eye toward the 2032 Brisbane Games as well as the Olympic and Paralympic Games. In order to help Japanese athletes better their performances and win more medals, the organization plans to use AI to handle massive volumes of data.The approach will, however, also serve as a warning about the dangers that athletes may encounter from an excessive reliance on AI, such as the loss of their ability to make decisions and feel emotions related to the activity and injuries from excessively strenuous practice. The strategy is the highest standard for actions to help athletes who want to compete in the Olympics and Paralympics. Projects by the Japan Sports Agency and the Japan High Performance Sport Center (HPSC), a bolstering base for elite athletes in Tokyo's Kita Ward, and assistance programs for other sports groups will all demonstrate it. AI is utilized to establish sports strategy, manage athletes' conditions, and enhance their form. In the realm of gymnastics, artificial intelligence (AI) systems have been used to assist judges at world championships by analyzing and scoring filmed performances after being provided information about gymnastics skills.Universities and commercial businesses in Japan are creating artificial intelligence (AI) systems to assist with curling shot selection and assess athletes' positions in trampolining. However, these systems are inaccurate since there is a shortage of data, such as game film, that can be used to train AI. AI-savvy human resources are also lacking in many sports organizations. Sources claim that the agency would incorporate AI-related products into the plan it is creating to improve elite athletes' performances, since Japan is lagging behind the US, Europe, and Australia in this area. It is anticipated that the updated approach will contain measures like providing sports organizations with successful AI use cases and improving AI accuracy by collaborating with researchers to gather larger amounts ofAccording to the revised plan, the agency is anticipated to begin using AI in a number of sports in earnest starting in fiscal 2026 and to expand its network of researchers focused on HPSC. "Using AI is essential to compete with the world," a connected individual stated. However, AI is merely a tool to increase productivity; humans still need to make ultimate judgments. The allure of sports will be gone if athletes allow AI to control their play.
Published 06 Jan 2025 09:18 PM
Putin directs Russia's leading bank and government to work with China on AI.
Vladimir Putin promised to "ensure further co-operation with the People's Republic of China in technological research and development in the field of artificial intelligence" to the government and Sberbank, which is leading Russia's AI initiatives. According to the UK-based Tortoise Media's Global AI Index, Russia is now ranked 31st out of 83 countries in terms of AI deployment, innovation, and investment. This places it far behind China, the United States, and other BRICS nations like Brazil and India.The Russian government and Sberbank, the nation's largest bank, have been instructed by President Vladimir Putin to expand their artificial intelligence collaboration with China. Three weeks after Putin declared that Russia would collaborate with BRICS partners and other nations to create artificial intelligence, his directives were posted on the Kremlin's website on Wednesday. To "ensure further co-operation with the People's Republic of China in technological research and development in the field of artificial intelligence," he advised the government and Sberbank, which is leading Russia's AI efforts.The world's leading manufacturers of microchips have stopped exporting to Russia as a result of Western sanctions meant to limit Moscow's access to the technologies it needs to continue its war against Ukraine, significantly limiting its aspirations in the field of artificial intelligence. In 2023, German Gref, the CEO of Sberbank, admitted that the most difficult hardware for Russia to replace was graphics processing units (GPUs), which are the microchips that support AI development.
Published 03 Jan 2025 09:10 PM
Geely Auto of China aims to sell 2.71 million cars by 2025.
Reuters, Beijing, January 2 In an online conference call on Thursday, Gan Jiaoyue, the CEO of China's Geely Auto (0175.HK), revealed that the company has set an annual sales target of 2.71 million vehicles in 2025. According to An Conghui, CEO of Zeekr, Geely's electric vehicle brand, the company hopes to sell 320,000 vehicles this year. Use the Reuters Auto File newsletter to be informed on the most recent developments, trends, and innovations influencing the global automobile industry. Register here.
Published 02 Jan 2025 10:21 PM
China: To increase tourism, 10-day visa-free transit stays
China extends its visa-free travel policy. There is now a 10-day visa-free stay for visitors from 54 nations. This includes 60 ports and 24 provinces. Residents of Shenzhen are eligible to apply for Hong Kong multiple-entry visas. Additionally, China relaxes visa requirements for 38 other countries. The goal of these adjustments is to boost travel following COVID-19.China has announced a major expansion of its visa-free transit policy in an effort to increase tourism. According to recent developments, qualifying travelers will be able to increase their permitted stay from 72 to 144 hours to 240 hours, or 10 days, under the most recent transit program.Travelers from 54 nations, including the US, UK, Canada, Brazil, and Russia, can now pass through China without a visa on their way to a third country under the updated policy. As long as participants remain inside specified areas, the program is offered at 60 ports spread over 24 provinces. For instance, visitors to Shanghai are allowed to explore the Jiangsu and Zhejiang provinces as well as the larger Shanghai area. Tibet still needs extra licenses for international tourists, nevertheless. This change in policy is in line with China's larger plan to increase foreign travel after reopening its border in 2023 after three years of stringent COVID-19 controls. China has seen a sharp rise in foreign visitor visits, according to recent data. Over half of the 8.2 million foreign visitors recorded in the third quarter of 2024—a 48.8% year-over-year increase—were made possible by the visa-free transit program, which saw a 78.6% gain in its own right.According to reports, residents of Shenzhen can now apply for multiple-entry visas to Hong Kong as of December 1. This removes previous restrictions that permitted only one weekly excursion. The updated rule restores a system that was initially implemented in 2009 and permitted an unlimited number of visits. According to accounts, the restrictions were brought about by protests against parallel trading, in which mainland consumers purchased goods in Hong Kong with the intention of reselling them for a profit. Restoring the policy is expected to increase travel and commerce between Shenzhen and Hong Kong, according to officials.Despite the fact that its visa-free policies have led to an increase in foreign arrivals, China remains selective in its broader exemptions. Citizens of 38 countries, including France, Malaysia, New Zealand, Japan, and Switzerland, are exempt from the visa requirement for a maximum of 30 days. It's interesting to note that the US is not on this list, even though American visa application requirements have been simplified since 2023. China is improving the traveler experience in other ways besides modifying visas. Simplifying travel processes, improving infrastructure, and resolving problems faced by foreign visitors are all part of the country's efforts to become a more accessible and appealing travel destination for individuals from all over the world.
Published 19 Dec 2024 11:13 PM
China is constructing the biggest artificial island airport in the world.
The largest airport in the world on an artificial island is another impressive addition to China's aviation portfolio.According to an airport statement, the Dalian Jinzhou Bay International Airport, which is currently being built off the northeast coast of the country, will eventually span a 20-square-kilometer (7.7-square-mile) island with four runways and a passenger terminal that is 900,000 square meters (969,000 square feet).With the first phase scheduled to open in 2035, its operators hope to handle 80 million people annually across 540,000 flights.According to a tweet made by Dalian Jinzhou Bay International on the Chinese social networking site WeChat, "The nation's largest offshore airport is slowly rising from the sea level like the sunrise in the east."When finished, it will surpass Japan's Kansai Airport (KIX) and Hong Kong International Airport (HKG) as the largest airport on an artificial island in the world. Li Xiang, chief engineer of Dalian Airport Construction and Development Co., Ltd., told state-run local media in October that the project had experienced significant difficulties due to its complex geological conditions, high drilling difficulty, high quality demand, and tight construction schedule. The 7.5 million-person metropolis of Dalian has traditionally served as a transportation hub because of its close proximity to South Korea and Japan. According to Yicai, a state-affiliated daily, Dalian Zhoushuizi Airport, the city's international airport that has been in operation for almost a century, has already reached its maximum capacity and has undergone multiple expansions in recent years. According to state-run local media, the city began site selection and demonstration work on the new airport in 2003, but building only really got underway a few years ago. The expansion of China's aviation industry is mostly due to new airports. The nation is poised to overtake the US as the largest air travel market globally. Daxing (PKX), Beijing's second airport, opened with much fanfare on October 1, 2019, the 70th anniversary of the People's Republic of China's founding. Chinese officials at the time stated the
Published 19 Dec 2024 11:08 PM
Being from the East gives us a competitive edge: Sano Takeshi
Takeshi Sano was recently in India. Sano took over as CEO of Densu Japan in January of this year and will shortly take on a new role as the network's deputy global COO. In the past 11 months, the ambitious Sano claims to have exchanged business cards with 2,900 people. Sano met more than 100 people at an event for the agency's clients while in India. Quotes from a discussion in which Yuichi Toyoda, global practice president of business transformation, and Harsha Razdan, CEO of Dentsu South Asia, also participated:For our Japanese clients, India is becoming a more significant strategic market. Of course, we care about the markets that matter to our clients. Additionally, a large number of Japanese customers intend to visit India, one of the economies with the quickest rates of economic growth. We hosted an event for our about 100 Japanese clients during my visit to demonstrate to them our combined strength from Dentsu Japan and Dentsu India. We wanted to let them know that we would also find a method to help them from Japan.Additionally, we wanted to inform the clients that Dentsu Japan is a partner for business transformation (BX) and customer experience (CX) in addition to being an advertising agency.In August, we introduced the Dentsu BX in India. We create creative strategies and solutions that tackle the intricate problems that our clients encounter by fusing marketing, technology, and consulting. Next year, we also want to open our R&D lab, Dentsu Labs, in Bengaluru and Mumbai. Since its founding in Japan in 2014, Dentsu Labs has begun to grow internationally, beginning in the EMEA (Europe, the Middle East, and Africa) region this year. It will hasten the development of innovations for society, businesses, and consumers.
Published 17 Dec 2024 08:32 PM
Private companies poised to boost the economy
Leading entrepreneurs said Thursday that China's private companies are confident in their ability to overcome obstacles and take advantage of opportunities in a changing global environment because the government has implemented a number of policies that assist the private sector.The chairman and CEO of Tencent Holdings, Ma Huateng, stated in a People's Daily essay on Thursday that the government has lately implemented a potent set of incremental measures that have assisted in addressing the urgent issues and bottlenecks that have hampered the economy. "These actions are directly addressing the demands of the market and giving companies new hope that the government will continue to pursue a stable economic recovery. Additionally, this has given businesses more confidence and strengthened their conviction that they should act boldly and decisively in order to proceed with unwavering determination," Ma said.He believes that the internet and the digital technology sector are essential to reviving the economy. According to him, Tencent has been investigating new directions in digital consumption and developing a variety of models and scenarios to increase demand. "Looking ahead, Tencent is committed to ramping up investment in line with government encouragement, championing the spirit of entrepreneurship, and weaving together technological innovation and industrial advancement more deeply than ever before," Ma said.
Published 13 Dec 2024 11:15 PM
Automotive AI chips are unveiled by Tenstorrent, Hyundai-backed BOS.
December 12, SEOUL (Reuters) - On Thursday, South Korean chip company BOS Semiconductors, supported by Hyundai Motor Group, and Canadian startup Tenstorrent presented artificial intelligence (AI) chips for autonomous driving and in-car infotainment. The need for AI processors to manage the high performance workloads required for complex features has increased as cars progressively transform into "computers on wheels." Park Jae-hong, the founder of BOS Semiconductors, told Reuters that the chips are the first "automotive chiplet AI accelerator" in the industry.According to him, chiplets—small chips integrated into a larger system, similar to LEGO blocks—allow automakers to modify certain features to suit their requirements and cut costs. In order to deliver the "Eagle-N" devices, which will make their debut at the Consumer Electronics Show in January and begin production in late 2026, Park stated that BOS Semiconductors is in negotiations with unnamed German manufacturers. According to him, BOS will carve out a niche market as it takes on chip titans like Qualcomm (QCOM.O) and creates a new page in automotive AI chips. Park previously designed processors for Apple (AAPL.O) and Tesla (TSLA.O) while working for Samsung Electronics (005380.KS), opens new tab. It will be manufactured with 5nm, one of Samsung's cutting-edge manufacturing techniques. Jim Keller, a former Apple chip designer who also managed Tesla's efforts to create an autonomous driving chip, is in charge of Tenstorrent. Investors like Samsung, Hyundai Motor Group, and Jeff Bezos' family office have shown interest in Tenstorrent.
Published 13 Dec 2024 11:08 PM
The baby care sector in China is expanding overall.
According to Mintel China, the Chinese baby care market is expanding rapidly, with a compound annual growth rate of 14.5% predicted by 2023. The market for baby care has been steadily expanding through both online and offline distribution channels since China relaxed the One Child Policy in 2016 and Chinese families' household incomes increased. In recent years, domestic rivalry in China's infant care industry has strengthened, including sales of other child care-related products including strollers, bottles, baby seats, cribs, and baby clothes, even though international names are still preferred, particularly when it comes to baby milk formula. Even while the primary distributors are still offline channels like supermarkets and specialty infant care shops, theE-commerce makes it possible to buy more baby care products from overseas. E-commerce purchases of baby care goods are a major driver of the market's expansion in China. Along with food and cosmetics, cross-border internet sales of baby care products are among the most popular among Chinese consumers. Baby items, particularly those related to baby personal care, like body powder, lotions and creams, baby bug repellant, and shower gels, are used more frequently, according to consumer data. Baby care items are still preferred to be imported, and Chinese consumers can buy international brands through cross-border e-commerce thanks to the country's massive e-commerce network.E-commerce accounts for half of all baby-related product purchases. In China's infant care distribution business, physical stores are increasingly vying for customers' attention, with online channels accounting for half of the mother and baby retail market value. With 47% of the total online merchandise volume as of 2017, Tmall leads this half of the market, followed by JD with 27%. Together, JD and TMall accounted for 37% of all online sales of goods for babies.
Published 10 Dec 2024 11:11 PM
A significant change in China's monetary policy sparked a stock market boom. Yet 'a lot of instability' remains a threat.
Monday saw a surge in Chinese stocks following the nation's indication of a more aggressive stimulus plan for the upcoming year. According to China state media Xinhua News Agency, Beijing's senior leaders announced they will adopt a "more proactive" fiscal policy and a "moderately loose" monetary policy.Hui Shan, the chief China economist at Goldman Sachs, wrote in a note to clients on Monday, "We view the outcome as an upside surprise due to stronger easing rhetoric, relative to the low market expectations prior to the meeting." The team also anticipates the announcement of "more concrete demand-side stimulus measures" early next year. Interestingly, the economist notes that China last referred to its monetary policy stance as "moderately loose" in 2009–2010.Following the remarks, Hong Kong's benchmark Hang Seng Index (^HSI), which is dominated by huge Chinese stocks, increased by almost 3% on Monday. The upward movements were echoed by other Chinese-listed corporations and exchanges. On Monday, China's benchmark CSI 300 (000300.SS) increased by more than 1%. Chinese e-commerce behemoths Alibaba (BABA), PDD Holdings (PDD), and JD.com (JD) also saw at least 9% increases in their stock prices. XPeng (XPEV, 9868.HK), a Chinese manufacturer of electric vehicles, too had double-digit growth, increasing by about 14%.
Published 10 Dec 2024 11:07 PM
