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This is the Beijing Hour.
Examining the events that impact and shape China and the rest of the world.
This is the Beijing Hour.
One hour of news and information brought to you every weekday.
Now here's your host, Shane Beggem with you on this Wednesday, December 25th, 2024.
You're listening to the Beijing Hour coming to you live from the Chinese Capitol.
On today's program, Japan's foreign ministers in Beijing for talks with this Chinese counterpart.
Serious new foreign ministers vowed representation for every segment of society as the country rebuilds.
A passenger plane with nearly 70 people on board was crashed in Kazakhstan.
In business, China's approved a new value -added tax law.
In sports, China's top tennis stars have arrived in Australia ahead of the United Cup.
In culture and entertainment, Chinese artists are showcasing their talents in Hungary.
Now checking the day's top stories.
Japanese Foreign Minister Takeshi Iwaya is visiting China.
He's met his Chinese counterpart Wang Yi in Beijing.
Xiao Bing has more.
This is not only the first Japanese foreign minister to visit China in 20 months time.
This is also Iwai's first face -to -face meeting with his Chinese counterpart Wang Yi.
But one thing we need to mention is that this visit comes just over a month after the meeting between Chinese president Xi Jinping and Japanese Prime Minister Shigeru Ishiba at the G20 summit in Lima, Brazil this year, which has viewed much of a follow -up interaction between the two sides.
And it is also with much expectation from the two countries.
Mounting the spokesperson of Chinese foreign ministry says the country attaches great importance to the visit.
China is willing to work with Japan to focus on shared interests, enhance communication, deepen cooperation, manage differences, and work to advance the China -Japan relationship.
The goal is to build a constructive and stable China -Japan relationship that meets the requirements of the new era.
That was Xiao Bing reporting.
China's top legislature has wrapped up a five -day session after approving several draft laws and legislative revisions.
Lawmakers adopted a law on value -added tax during the meeting of the National People's Congress Standing Committee.
They also adopted a decision to amend the supervision law, the country's primary legislation for combating corruption.
The national legislature also approved amendments to the science and technology popularization law aimed at boosting innovative -driven development.
Feng Ile has more. Cytec popularization laws reflect China's determination to enhance science literacy amid rapid technological advances, as well as the rising need to build a strong foundation for innovation and high -quality development.
And also, it responds to new challenges and opportunities in science outreach, and aims to create a more inclusive and effective science education system.
So, I would say, first, it identifies a science popularization as a cornerstone of innovation and places it on par with scientific research and importance.
And also, the amendments include designating September as the national science popularization month to foster public engagement, as well as awareness, and also the modifications mandate a targeted science outreach for significant national projects and emerging technologies, such as AI and quantum technology,
to ensure public awareness and involvement.
And also, it sets strict standards for the legitimacy and scientific accuracy for popular science content, with particular measures to address misinformation online.
And also, there are new chapters focusing on promoting diverse science activities and building a professional science communication workforce, including incentives for, for example, volunteers and specialized training.
And it's also worth mentioning that the Chinese authorities have shown their commitment to fostering a big science popularization framework that integrates efforts across society.
So, with these updates, China aims to raise public scientific literacy from, as reported, 14 % to 25 % by 2035, and further empower citizens to engage in countries' innovation -driven future.
So, I would say this law would not only provide a legal guarantee, but also facilitate China's ambition to create a scientifically empowered society.
That was Feng Ilei reporting.
The city of Xinjiang, Fujian Province, is known for its vibrant private sector.
Its economic model is given rise to the term Xinjiang experience, as the sector has grown rapidly thanks to intelligent production.
Juju visited the local seven -brand garment factory in the eastern Chinese city to find out more.
A newly -made suit I just ordered from seven brands.
How long does it take to make such a suit?
Several weeks or several days.
Now, with the intelligent production system, it can be produced every 20 seconds.
We followed the real -time video transmitted via 5G to learn how to sew.
Previously, we could only make five pieces of clothing in an hour, and learning new processes took about six months.
Now we can learn these skills very quickly, and can make nearly 20 pieces in an hour.
This is the first factory in the country to apply China Mobile's 5G private network to garment production.
The entire process, from cutting and sewing to packaging, is digitalized.
Our efficiency has increased by nearly 20 percent.
Growing from a family workshop in 1979, seven brands' brand value has surged over 50 -fold, and it has become one of China's 500 most valuable brands.
The company's innovative intelligent transformation reflects the effectiveness of the Jingjiang experience model.
In the 1970s, Jingjiang's per capita GDP was only about 20 US dollars, much lower than the national average.
But now this county -level city has nurtured over 96 ,000 of private enterprises, including those like Sevenbrand.
The private sector accounts for over 97 % of all its companies, with 51 of them listed.
Apart from textiles, many in Jingjiang also started their businesses in another light industry that requires a relatively low entry barrier, shoes.
We are now here in Chengdai Town, Xinjiang City.
During the early 1980s, during the early days of China's reform and opening up, almost everyone in this small town, roughly the size of around five football fields, was starting their own shoe business.
When I was seven or eight years old, I started making shoes.
At that time, almost every household in Chengdai was a family workshop making shoes.
You know, the Jingjiang is the capital, the shoe's capital city, so these kind of products are very popular in our market, and 90 percent of the shoes' materials are imported to Bangladesh from China.
Today, Jingjiang produces 1 .6 billion pairs of sports shoes annually, accounting for 40 percent of China's total output.
In 11 to 15 seconds, we can glue a pair of shoes two machines can operate together, and the same production line can produce multiple styles of shoes, gluing used to release some volatile substances that were harmful to the human body, but now it's completely pollution -free.
Developing these technologies caused a lot of time and funding, but Wu Yibin says the Jingjiang experience inspires him to be a pioneer in the industry.
We want to lead the entire industry in digital transformation, helping the whole shoe industry to upgrade, not just to change our own factory.
Pioneering and innovation, the core elements of the Jingjiang experience I've observed during my report are propelling the city towards a prosperous new stage.
In recent years, Jingjiang has accelerated the intelligent transformation of its traditional industries.
Official data shows more than 90 percent of companies in Jingjiang are connected to the industrial internet.
Last year, China's state council took the Jingjiang experience as a guide to promote the development of the country's private economy.
That was Juju reporting.
Coming up, Syria's new foreign minister vows to prioritize the people's needs.
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Nine minutes past the hour, Syria's newly appointed interim foreign minister is vowed to prioritize serving the people and representing every segment of society.
Assad al -Shaibani says that protecting citizens' rights and interests and ensuring the fair representation of all ethnic and social groups will be the compass guiding the country's future.
He adds that the state aims to guarantee dignity, freedom, and to return home for those displaced bypass conflicts.
al -Shaibani also says Syria will reclaim its regional and international roles, urging young people to contribute to rebuilding the country and leading it toward innovation and progress.
The head of Syria's de facto governing group and other military faction chiefs have agreed to dissolve all factions and merge them under a unified defense ministry.
Residents of a war -ravaged neighborhood in eastern Damascus are returning home to check the conditions of their houses.
Hadar Qaswini visited the neighborhood to find out more.
It's not easy to find any sign of life in this war -ravaged area.
Most of the buildings have been reduced to rubble from years of fierce fighting between former Syrian military and Syrian rebels.
The serenity is overwhelming.
Even standing buildings are uninhabitable, marked by damage from bombs and bullet holes.
This is Khadija's first time back in more than a decade.
She's trying to send videos to her relatives to help her recognize the roots that lead to her family's house.
We do not have any financial capability to repair the damage.
Bringing life back to normal here requires resources we do not have.
I doubt that anyone who returns here can rejuvenate the area.
For us, my husband works on basis on daily wage that enables us to make ends meet.
But we do not have the means to repair our house.
Khadija has been meeting with other residents of Qapun to work together to locate where each other's homes used to be.
45 -year -old Iyad has a good memory of how the neighborhood was before the war.
But he has little hope in getting back to live in his family's house, giving the scale of damage.
Near that house there was an institute and near it there was your family's house near that one there.
There was a factory here.
I could specify the route.
Reaching there, there was an institute and our house was to the right of the institute.
It is a pile of rubble.
The landmarks of the narrow alleys are completely erased.
Iyad and his wife have refused to bring their children to seize the neighborhood's scars of conflict but remain optimistic of a brighter future for them.
Israeli Prime Minister Benjamin Netanyahu says there is progress for a ceasefire deal and the freeing of hostages in Gaza but there is no timeline.
Hamas says the safety of some captives largely depends on the activities of the Israeli army.
The number of people killed by Israeli attacks on the Strip has now surpassed 45 ,000.
The Kamal -Adwan Hospital in northern Gaza remains in the crossfire.
Rami Almagari has more from Hanunas.
20 people have been reportedly injured at the Kamal -Adwan Hospital when the Israeli Army has reported when the Israeli Army hit the hospital around the hospital with some robot explosives.
That's what has been reported forcing the dwellers or those inside the hospital to leave immediately.
And also the the Aouda, the Aouda Hospital in the northern Gaza Strip in the Jabali refugee camp has been forced to leave the hospital.
The Indonesian hospital notably has already evacuated.
That's what has been reported which is close to the Aouda hospital in northern Gaza Strip.
So the hospitals over there are de -functioning almost completely because of the intensity of the Israeli actions and the teams.
The Israeli Army does not want to see hospitals or population over there as there have been reports about detonation and explosion of homes, destruction of more homes in the northern Jabali refugee camp.
And the pictures from Jabali show that most of the homes have been flattened and pounded to the ground over there.
This is for the northern Gaza Strip.
For the Gaza City there was a strike on a home in which four people were killed in east of Gaza City.
Another another strike hit also some parts of the eastern Gaza City in which one people was killed and two others injured including a woman and a child.
In the central Gaza Strip actually there was a strike on those guarding the Shepmans coming in the territory for the past few days.
There was an action against those guards by the Israeli Army, five people were killed and the day before also five people were killed.
And always Israel claims that these people are belonging to the Hamas which Israel does not want to see after the war as stated by the Israeli Prime Minister when he said recently that the war will continue until the mass is removed totally and completely.
That was Ramy Amagari reporting.
Israeli Prime Minister Benjamin Netanyahu's office says its negotiating team has returned from what it calls meaningful talks in Qatar for a deal to release the hostages held in Gaza.
Jonathan Raghav has more from Tel Aviv.
Prime Minister Benjamin Netanyahu in a session of the Israeli parliament the Knesset saying that progress has been made and the deal is closer but there's still some time to go he cannot elaborate on that he does not know how long will it take.
It sounds optimistic but it also sounds familiar as these are pretty much the same things we've heard last May and last July.
Will it be different now?
Perhaps we do not know.
What the families are saying they're hoping is that perhaps Donald Trump has more leverage on Israel on Benjamin Netanyahu than Joe Biden both presidents and especially Trump which has perhaps more leverage on Netanyahu are interested in this deal.
Does that mean that a deal will eventually happen?
Absolutely not. We do not know that we know that there is opposition from within the Israeli coalition once again coming from far right lawmakers raised their opposition to previous deals and they're doing the same now.
If you ask many Israeli analysts they will say that when Benjamin Netanyahu has to decide between the good of his coalition and the good of anything else he will choose his coalition.
What will it be this time?
We'll have to wait and see.
That was Jonathan Raghav reporting.
Coming up a passenger play with nearly 70 on board is crashed in Kazakhstan.
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17 minutes past the hour an Azerbaijani passenger plane with 67 people on board is crashed near the Kazakh city of Akhtar.
The plane was traveling from Baku to Grozny in Russia.
The Kazakh emergency ministry says dozens of people are likely dead.
Authorities say 28 people did survive the incident.
The Chinese consulate general in Aktobi has confirmed that no Chinese nationals were on board.
Garim Kali has more from Astana.
Azerbaijan Airlines passenger plane flying from Baku to Grozny crashed in Kazakhstan.
The Embraer 190 plane was flying from Baku to Grozny and crashed near the Kazakh airport of the port city of Akhtar.
This is in the western region of Kazakhstan.
There were 67 passengers and five crew members on board of the plane.
Rescuers are already working at the scene of the accident.
52 personal and 11 units of equipment from the Ministry of Emergency Situations of Kazakhstan arrived at the crash site in Akhtar.
Upon arrival the aircraft was found to be on fire.
At the moment the fire is extinguished.
Air ambulances headed to the crash site.
The Health Minister Akmar al -Azharova said that they prepared air ambulances for the departure and dispatch of specialists, among them traumatologists, neurosurgeons and others, and provided assistance on -site and evacuated people.
So for now 25 survivors were taken to the hospital.
Among them 37 citizens of Azerbaijan, 16 Russians, 6 citizens of Kazakhstan and 3 of the Kyrgyzstan republic.
International hunger experts say famine spreading in Sudan as a result of a relentless war between the military and a paramilitary group.
The 20 month war has wrecked the country and created the world's largest displacement crisis.
Dervla Cleary is a senior emergency and rehabilitation officer at the UN's food and agriculture organization.
He says it's unacceptable to see people dying of hunger in a world where there's so much prosperity.
The situation has worsened further and there's concern that there's famine has spread in other parts of North Darfur where there are large displaced populations and into the western Nuba mountains.
We need safe and continuous access for the humanitarian community to access people in need.
We need the violence to stop so people can access food, water, health, nutrition and agriculture.
Food in the market is scarce and prices have spiked.
A -groups also say they're struggling to reach the most vulnerable as warring parties limit access, especially in North Darfur.
According to the United Nations, the war has killed more than 24 ,000 people and driven over 14 million away from their homes.
This includes an estimated 3 .2 million who've crossed into neighboring countries including Chad, Egypt and South Sudan.
A powerful explosion at a munitions factory in northwestern Turkey has killed 11 people and injured seven others and investigations now underway.
Mihal Bardavid has more from Istanbul.
It's not clear what caused this incident but just the videos that we saw regarding this explosion, it seemed like a fireball erupted when the explosion took place and later the structure in Balochisir, this ammunition factory basically was reduced to a charred metal skeleton.
It took place at the ZSR ammunition factory in Balochisir's Karisi district.
It was specifically at the capsule production section of the factory.
17 people were working there at the time, 12 people were killed during that incident and actually 14 people were injured during that accident so far because we believe it's an accident.
Authorities are saying there is no sabotage indication so far.
Emergency services, firefighters, medical teams rushed to the scene and assisted the victims on the scene immediately.
The interior minister, Ali Alikal, confirmed that they do not know the cause of the explosion so far but they believe it is not a sabotage.
The justice minister stated that an investigation has been launched that a chief public prosecutor has been assigned as well as four public prosecutors to this investigation.
Turkish President Recep Tayyip Erdogan also expressed his sorrow over the incident and he also emphasized that a thorough, very thorough investigation would be taking place following the incident.
ZSR ammunition is a major leading Turkish defense company.
It produces explosives as well as ammunition just to give you some examples of their products, emulsion explosives, shotgun shells and various cartridges and bullets as well and now this incident also adds to the list of these type of industrial accidents that have taken place in Turkey in these ammunition production industries
of Turkey. That was Mihal Bhardavid reporting.
American Airlines has resumed flights after a technical glitch caused an hour -long disruption.
The carrier says a vendor technology issue grounded all of its flights nationwide.
This incident happened as millions of Americans have been traveling for the Christmas holiday season.
Richard McCann has more from New York.
The Federal Aviation Administration ordered a brief nationwide ground stop for all American Airlines flights at the request of the air carrier for about an hour on Tuesday due to what the airline called a technical issue.
The Christmas Eve delay could not have come at a worse time for American with a record number of people expected to travel this holiday season.
The Transportation Security Administration is expecting to screen 40 million travelers between the 19th of December and the 2nd of January.
In a statement reported by various US media, American Airlines said the problem was a vendor technology issue that impacted systems needed to release flights.
It added that it sincerely apologized to customers for the inconvenience.
One man in the US city of Boston filmed the moment he was sitting onboard an aircraft when the pilot told passengers they had to disembark.
So thank you so much for your compliance.
I think this is a national computer failure.
American Airlines computers are down, we're getting off of the plane.
While the stoppage only lasted for about an hour, it could have major implications for delays throughout the rest of the day.
American Airlines is the busiest carrier in the US with nearly 3 ,500 domestic flights scheduled for Tuesday.
Well, I have very low expectations about how it will go so it's going fine because I'm still moving, the lines are moving and we'll be fine.
I'll get home at some point.
It has been a difficult six months for the aviation industry in the US.
In July, a software update issued by the company CrowdStrike lead to a global tech outage, granting at least five US airlines and the cancellation of more than 5 ,000 flights.
It's not just air travel that's proving difficult for some holiday goers.
According to the American Automobile Association, the overwhelming majority of people visiting loved ones will be traveling by car.
They've been warned to take care with the National Weather Service issuing winter weather advisories for 14 states.
That was Mitch McCann reporting.
Somalia has accused Ethiopian forces of a deadly attack on its troops in a border region.
Ethiopia has denied any involvement.
The two countries are now trying to resolve the issue.
Mohammed Cahier has more from Mogadishu.
Somalia has blamed Ethiopian forces based at the border town of Douro for taking part in an attack, the targeted businessman by the Somali army, the police and units from the intelligence agency.
A specified number of people have been reported to have been harmed in this attack but also saw confrontations between the federal and regional forces from Juba land state.
The Ethiopian government has since denied delegations by Somali government.
A statement from the Ministry of Foreign Affairs said the incident was instigated by elements that aimed to derail the novelizations of relations between Mogadishu and Addis Ababa.
The two countries were not in good terms since January last year when Ethiopia signed an agreement with the breakaway region of Somaliland to build a port and naval base deal in its quest to access the Red Sea.
After three rounds of talks through Turkish facilitations, President Hassew Sheikh Mohammed and Prime Minister B.
Ahmed agreed to resolve their differences peacefully.
A delegation from Somalia led by State Minister for Foreign Affairs and the Director of the National Intelligence are already in Addis Ababa to spearhead more talks between the two sides.
That was Mohammed Cahier reporting.
Rescue teams are working to save two civil defense members trapped under a collapsed building in Lebanon.
The building in Tripoli collapsed after a fire trapping two civil defense personnel under the debris.
Eyewitness Nasser Alhamui says he heard loud explosions before the fire broke out in a shop that stores chemicals.
We were having lunch around 4 p .m.
and we heard an explosion that sounded like an airstrike.
We saw the destruction and smoke coming out from over there.
Five minutes later, we saw fire from there.
This shop has a bunch of chemical items, gasoline, pant, thinner, among other stuff.
Fire also spread to an adjacent building and rescue teams have ensured that no other people have been buried in the rubble.
Haiti's online media associations is a gang attack during the reopening of Port -au -Prince's biggest public hospital is killed to reporters and injured several others.
Street gangs have taken over an estimated 85 percent of the capital and forced the closure of the General Hospital earlier this year.
Authorities had pledged to reopen the facility on Tuesday but as journalists gathered to cover the event, suspected gang members opened fire on them.
We're at 28 past the hour, checking the forecast ahead of the break and Beijing's down to minus four Wednesday evening.
Sunny conditions in three degrees on Thursday, Nanchang's down to five and then overcast in 12.
Also in Asia, Islamabad's seven overnight sunny skies in 21 on Thursday.
Bien Tian dips to 17 degrees and then sunny in 30.
Nong Pen's at 25 overnight then cloudy in 32 degrees.
In Africa, Nairobi will see cloudy skies in 25 degrees on Thursday.
Kampal is down to 19 then cloudy in 26.
Finally to Oceania, Port Vila is at 25 overnight then cloudy in 30.
Apia will see cloudy skies Thursday in 30 degrees Celsius.
It's time for a short break so far this hour.
Japan's Foreign Minister is in Beijing for talks with his Chinese counterpart.
Syria's new foreign minister has vowed representation for every segment of society as the country rebuilds and a passenger plane with nearly 70 on board is crashed in Kazakhstan.
Shane Begumatib, stay with us here on The Beijing Out.
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Bing An. Bing. Bing An.
Bing An. Examining the events that impact and shape China and the rest of the world.
This is The Beijing Hour.
One hour of news and information brought to you every weekday.
Now here's your host.
Shane Bigham with you on this Wednesday.
Still to come in business, China's approved a new value -added tax law.
In sports, China's top tennis stars have arrived in Australia ahead of the United Cup.
In culture and entertainment, Chinese artists are showcasing their talents in Hungary.
Contact us. You can email radio at cgtn .com or follow our X account at cgtnradio.
But first of all, with the day's headline news, here's Dohong Yiu.
Thank you, Shane. China's top legislature has ramped up a five -day session after approving several draft laws and legislative revisions.
Lawmakers adopted a law on value -added tax during the meeting of the National People's Congress Standing Committee.
They also adopted a decision to amend the supervision law, the country's primary legislation for combating corruption.
The national legislature also approved amendments to the science and technology popularization law aimed at boosting innovation -driven development.
The State Council Taiwan Affairs Office says the mainland will make efforts to explore a two -system solution to the Taiwan question, fully taking into account the island's realities.
Spokesperson Chen Binhua says the mainland will continue to unite with compatriots in Taiwan and actively explore the Taiwan solution to advance peaceful reunification.
Chen says that authorities will take several aspects into consideration, including the views and proposals of people from all walks of life and the interests and sentiments of Taiwan compatriots.
The spokesperson added that the great achievements of Macau since its return have proven that the cause of one country, two systems is effective and goes down well with the people with its distinctive strengths and strong vitality.
The United Nations General Assembly has adopted a landmark global treaty in bolstering international cooperation in the fight against cybercrime.
It's been the first international criminal justice treaty negotiated among UN member states in over 20 years.
The legally binding convention acknowledges the significant risks posed by the misuse of information and communications technologies.
The convention against cybercrime will open for signature at a formal ceremony in Hanoi next year.
It will enter into force 90 days after being ratified by the 40th Signatory.
South Korean President Yonseok Yeoh has defied the second summons by Joint Investigation Unit for questioning.
The unit sent its second summons to Yoon last Friday, requesting him to appear for questioning on Wednesday morning as part of its investigation into his imposition of the martial law on December 3.
The president did not comply with the first summons from the corruption investigation office last week.
Syria's new leaders say the country's rebel groups have agreed to disband.
Media reports say it's the result of a meeting between the rebel groups and HTS leader Ahmad Al -Sharah.
The groups will be integrated under the supervision of the defense ministry.
The announcement comes just over two weeks after the ouster of President Bashar al -Assad.
Meanwhile, newly appointed Foreign Minister Assad al -Shaibani has pledged to prioritize serving the people and representing every segment of society.
The Qatari Foreign Affairs Ministry says that Gaza ceasefire negotiations in Doha continue with no clear ending site.
Spokesman Majed Bin Mohammed al -Ansari said the exact timeline for reaching an agreement remains uncertain.
Al -Ansari also expressed disappointment over the deteriorating humanitarian crisis in the Gaza Strip.
We keep hitting rock bottom and every time we think we've had hit rock bottom in the crisis in Gaza, we see other bottoms opening up as a result.
The humanitarian situation in Gaza is something that is going to be a shame on this generation in the international community.
We have not been able to deal with it.
We have not been able to solve it and the crisis only continues and widens.
Israeli media reports say the Israeli negotiating team has returned to Israel for internal deliberations with senior Israeli officials.
Maya Sandhu has begun her second term as the President of Moldova after taking the oath of office.
I swear to devote all my strength and skill to the prosperity of the Republic of Moldova, to respect the Constitution and the laws of the country, to defend democracy, fundamental human rights and freedoms, sovereignty, independence, unity and territorial integrity of Moldova.
The President asked that European integration is their path to security and well -being, but it should not be taken as a business class ticket to paradise.
She said it's not a miraculous solution to all their problems and that they are in charge and responsible for their lives and their country.
The California coast is on high alert for high surf and flooding.
This comes a day after major storms caused one death and the partial collapse of a pier, which dumped three people into the Pacific Ocean.
In Santa Cruz County, authorities have cordoned off most beaches as they were inundated with high surf and debris.
Fire Department Chief Ryan Reber says they have made preparations for the swell.
We had the swell on our radar for a solid week and so we had upstaff which means we had eight lifeguards on, two of our personal water crafts with four people, two on each one out in the water already, kind of patrolling the area and patrolling Westcliff.
It was a quick deployment and a quick rescue for us.
Local authorities say in the weeks and months ahead, they will assess long -term solutions for protecting the coastal city from the impacts of climate change.
Thank you very much.
That was Dohongyu with Headline News.
Mrs. Shane Begum in the Chinese Capitol.
Coming up in business, China's approved a new value -added tax law.
It's time for a year -end review.
Check out the key dynamics shaping the global landscape in the past year that may continue to shape the trajectory of international events and trends in the future.
Also, where's the world heading in 2025, both economically and politically?
Will the world become more de -globalized?
Get all these on chat lounges last episode of 2024.
Anywhere, you get your favorite podcast and I'll see you again radio.
37 past the hour, turning to business and stocks on the Chinese mainland ended lower on Wednesday with the Shanghai Composite Index down slightly while the Shenzhen Component Index dropped by six -tenths of a percent.
The People's Bank of China injected 300 billion yuan or 41 billion US dollars into financial institutions through a one -year medium -term lending facility or MLF at an unchanged rate of 2 percent even.
This marks the third consecutive month of a steady MLF rate after a record 30 basis point cut in September.
In early December, policymakers pledged to maintain a moderately loose monetary policy, the first shift in stance in 14 years alongside more proactive fiscal measures to support the economy.
Hong Kong markets were closed for the Christmas holidays.
In Japan, the Nikkei 225 rose by two -tenths of a percent.
China's approved the value -added tax loss had to take effect at the beginning of 2026.
Value -added tax is the largest tax category in China, accounting for around 38 % of national tax revenue in 2023.
The latest draft includes exemptions for certain agricultural products, imported scientific research and teaching instruments, and services provided by welfare institutions.
Last month, China introduced tax incentives for home and land transactions to support the property market.
Residents are now exempt from value -added tax when selling their homes at least two years after the initial purchase.
In 2019, China reduced the tax rate for manufacturers from 16 to 13 percent and for the transportation and construction sectors from 10 down to 9 percent.
China's vowed to continue efforts to stabilize the real estate market next year.
Minister Ni Hong of Housing and Urban Rural Development says the department will provide more favorable policies.
Efforts will focus on renovating urban villages and dilapidated homes, while promoting monetized resettlement.
In addition to constructing one million new units, the scope of urban village renovations will expand, particularly in areas where residents strongly support redevelopment.
Key support will also be provided for projects that are ready for renovation.
Officials also noted signs of recovery in the housing market, setting increases in new home transactions in October and November.
In the first 11 months of the year, China's central state -owned enterprises invested roughly 2 trillion yuan or around 278 billion US dollars in emerging industries, and that marked an 18 percent increase.
For the first time, investment in emerging industries has made up more than 40 percent of the total investment.
During the period, these enterprises generated an added value of 9 .3 trillion yuan, while their annualized labor productivity for employees rose by 3 percent compared to the previous year.
China's northeast is famous for its harsh winters.
But this year, innovations bring warmth to key industries from cutting -edge ice equipment in Qichihar to world -class winter fashion in Harbin.
Li Xiuang has more.
With average winter temperatures around minus 10 degrees Celsius, Qichihar is one of China's most active cities for ice sports.
At the factory of a 70 -year -old ice equipment brand, machines grant blades without stopping around the clock.
We have introduced titanium alloy, commonly used in aerospace, to the design of ice -skating blades.
We have also made a breakthrough with the T -shaped structure, replacing the traditional wrong -tune design.
This reduces the air resistance of the blades by over 50 percent.
We are also making the more than 10 percent lighter and top computation models produced by foreign brands.
In world -class speed skating compositions, where the difference between gold and silver can be decided by mere fractions of a second, that 10 percent weight reduction can be crucial.
This legacy brand is expanding its reach into the international markets, such as in the Netherlands and South Korea.
Our ice skating blades not compete with top -tier international products, with the performance gap steadily narrowing, and in some areas, our sport performs the competition.
Meanwhile, a leading brand in China's downjacket market has seized a business opportunity.
Teaming up with Harbin, the city that attracted a record -breaking three million tourists during the past three -day New Year holiday.
Harbin is a city that showcases its full beauty in winter, just as our brand has its maximum splendor in winter.
So it is a perfect marriage.
In the brand's state -of -the -art factory in Harbin, all 158 steps involved in creating a finished downjacket, cutting, sewing, sorting and packaging, are fully automated.
Our jackets are lighter yet provide more warmth in temperatures as low as minus 50 degrees Celsius.
This is achieved through experiments combining heat air circulation with our goods -down and sewing system.
All of this technology and innovation comes together in a fashion show set against the backdrop of a landmark building in downtown Harbin.
That was Li Xiong reporting.
Foxconn's announced investment of US $600 million to establish a new energy battery company in Zhengzhou.
As part of the expansion, Foxconn will also build a new business headquarters in the city.
The first phase of the headquarters will span around 70 ,000 square meters with an investment of US $1 billion.
In July, Foxconn signed a strategic cooperation agreement with the Henan provincial government to accelerate projects in emerging sectors.
These initiatives will focus on industries including new energy vehicles, batteries, digital health care and robotics.
Many foreign companies have expressed optimism for investing in China.
Frederick Odia is the global chairman of French pharmaceutical giant Cenophie, meaning expressed confidence in China's innovation potential and its supportive business environment.
We have in mind the Healthy China 2030 strategy, which puts of course those development and the access to drugs as a core part of the strategic agenda for the country.
And I must say there is an environment which is very supportive for investment by MNCs.
We will have the support of the Chinese government and of course of the Beijing local regional authorities for this project.
Earlier this month, Cenophie announced it would invest a billion euros in a new insulin plant in Beijing.
For centuries, advent calendars have been used to count down to Christmas.
However, in recent years, this once Christian -centered practice has evolved into something much broader, taking on a life of its own.
Isabella Diaz has more.
When it comes to the holiday season, shoppers expect to shell out extra cash.
In fact, this year global holiday spending is expected to grow 16 percent.
But a recent gifting craze hitting online and brick and mortar stores may be one culprit breaking the holiday budget, advent calendars.
But it's not the traditional chocolate calendars raising the stakes.
In recent years, more holiday shoppers are switching over to calendars filled with beauty products and luxury goods.
According to market research firm, Sircana, the U .S.
beauty calendar industry alone is worth nearly 20 million dollars.
And each year, more high -end retailers are getting in on the advent craze.
U .S. retail store, William Sonoma, has a variety of advent calendars available for shoppers.
The most extravagant among them is filled with sweets, seasonings, and ornaments and regularly costs nearly 300 dollars.
U .S. luxury department store, Saks Fifth Avenue, sells a limited edition calendar for 250 dollars, complete with a selection of beauty and fragrance products.
Meanwhile, Austrian fashion brand Swarovski offers an even pricier option, complete with 25 crystal ornaments and costing a whopping 1200 dollars.
But one of the most expensive calendars comes from London jewelry store, Lark and Berry.
Its limited edition, 12 -day royal collection calendar comes in at more than 117 ,000 dollars.
Still, luxury calendars aren't the only new way stores are drawing in shoppers.
Some are going one step further, transforming the calendar from a purchase to a full -on experience.
Just look at London's Fortnum and Mason.
The Gourmet grocery store created a full building display, turning each storefront window into a date on the calendar.
Still, for shoppers hoping to get their hands on a more traditional advent calendar, luxury or not, the options are endless.
That was Isabella Diaz reporting.
You're listening to the Beijing Hour.
Coming up in sports, China's top tennis stars have arrived in Australia ahead of the United Cup.
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The United Cup is said to herald the start of the new season.
Both No. 45 Chang Juzhen and the rest of the Chinese squad have arrived in Perth and are looking forward to the tournament.
Chang will lead China in the absence of Ching Wen, who is skipping the tournament to focus on the Australian Open.
China will meet Brazil to Open Group E on Friday and face defending champions Germany three days later.
Taylor Fritz and Koko Gaff have also landed in Perth ahead of the United Cup as they look to lead the USA to a second title in three years, while also getting their new seasons after promising starts.
The USA will open -surfing Group A against Canada on Sunday before meeting Croatia next Tuesday.
Fritz says he enjoys the vibe around the team events.
That's another thing that's great about these two.
We can win together, celebrate together, and hopefully we'll be doing that this week.
Gaff also took time to discuss expectations for her event debut and says she hopes to play well.
No, we haven't talked much, we just got here, but my expectations.
I'm hoping to have fun.
It's my first time playing, so I'm super excited and I like playing team events, so hopefully I can represent my country well.
Obviously the hope is to win, but just to continue and start the season off strong and try to take that momentum in the end of this year until next year.
The USA is looking to claim its second United Cup title after winning the inaugural edition in 2023.
In other tennis news, spot number one arena Saba Lanka has arrived ahead of the Brisbane International, where she previously lifted the trophy to open the 2023 campaign.
The Belarusians' earlier victory set the stage for her first Grand Slam victory at the Australian Open last year.
The 26 -year -old then defended her Brisbane crown last year in a tough final against China's Chinggwen.
She went on to capture her third major title by winning the US Open while also reclaiming the tough spot in the world rankings.
Saba Lanka says she hopes to carry her overall strong momentum into the new campaign.
I'm super happy to be back.
I have a lot of great memories from here.
I just can't wait to start playing.
I feel fresh and ready to go.
I love Australia and I always come here hungry and always come here ready as good as possible.
This season's Brisbane International will kick off on Sunday.
Ceaussi will take on West London rivals Fulham in the English Premier League.
Ceaussi currently stands second place in the league, standing with 35 points, followed by Arsenal and Nottingham.
Head coach Anzal Mariska says they are well prepared.
Fantastic, fantastic already many years together.
Since championship they know each other very good that the team is playing good, that it's quite clear what they do on the ball end of the ball in this moment.
They have some, they could have some injury but not sure yet.
So they can change something we see.
Manchester City will play Everton.
City is now seven in the standings.
Well, Everton seats in 15th place.
Manchester City manager Pep Guardiola showed confidence about the team's form.
It's about us. It's about everyone.
So it's not, will be the analysis when I said that the guys are running, making effort more than ever.
So they tend to say, oh, we don't run.
Oh, we don't fight.
Oh, the reason why is this one, this situation or this player or this manager.
It's not about that.
There's many little details or big details that make altogether not as good as we were.
But we have another opportunity on the Boxing Day to try and win time for the time will be better.
Other matches we have Newcastle, up against Austin Villa.
Boonmouth will meet Crystal Palace.
Nottingham will take on Tottenham and it's Southampton up against West Ham United.
Oscar has expressed thanks to Shanghai Port and the fans.
The 33 -year -old has returned to Brazil after 14 years abroad and re -joined his boyhood club Sao Paulo.
Oscar played for Shanghai Port for eight seasons in the Chinese Super League.
The long -time fan, Freddie Wirt, joined the team in January 2017 and helped Port won three CSL titles, one Chinese Effie Cup and one Super Cup.
He moves to Sao Paulo on a free transfer.
Reports say he signed a three -year contract.
And finally, in basketball from the CBA, the Xinjiang Flying Tigers beat the Beit Kun Royal fighters 193 on the road on Tuesday.
With victory, they return to third -place understandings.
Xinjiang coach Liu Wei is satisfied with the team's performance.
This was a wonderful contest and I don't have much to say technically but I think we did very well mentally.
In fact, I told our players before the game that we should learn from our opponents.
Beit Kun was impacted a lot without Zhang Fan and Lao Sanning while we remained calm even though Zhao Rui and Xi Lin was absent from this contest.
I think we both performed well in the game.
In other action, the Shanxi long speed, the Xinjiang Leopards 132, 127 returned to second place in the league.
Hamidu Dialo contributed 44 points, 19 rebounds in the win.
Michael Johnson led Xinjiang with 24 .6 rebounds and 12 assists.
Thank you very much.
That was Yang Guang with Sports.
And coming up in culture and entertainment, Chinese artists are showcasing their talents in Hungary.
Ever wondered what's actually going on in Africa through the perspective of an African?
How are things really going between China and Africa?
What's the narrative of this relationship?
Well, get a perspective with China Africa Talk.
Hear from African diplomats, entrepreneurs, academics, Chinese natives and more.
Get on our way, Blin, every week to find out what's real with China Africa Talk.
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We'll see you there.
54 past the hour now, turning to culture and entertainment.
In Hungary, an exhibition sparking an East meets West dialogue at the Hungarian National Museum in Budapest.
Chinese artists are showcasing a fusion of traditional brushwork with Western influences to explore themes of nature, philosophy and human emotions.
Pablo Gutierrez has more.
As visitors enter the exhibition halls of the Hungarian National Museum, the tranquil harmony of Chinese brush paintings and sculptures greets them.
The exhibition, it's honestly, it's very, very breathtaking, very nice.
Everything kind of makes you feel very calm.
Tumde Fejibari Pomori, the curator of the Chinese Xie Yie exhibition, describes it as a unique glimpse into the beauty and richness of Chinese art.
This exhibition is a collection of 58 artworks, including four sculptures from 58 different artists from the National Art Museum of China's collection, and they represent modern and contemporary artworks, partly reflecting back to the traditional Chinese painting and Chinese art and partly reflecting
to Western influences in art, which mostly started arriving in China after the 1970s and the 80s.
For visitors, seeing traditional Chinese brushwork up close is a rare and unique experience.
The exhibition offers visitors a profound glimpse into the philosophy of Xie Yie, where humans and nature are viewed as one.
The works range from traditional ink on rice paper to modern interpretations, each revealing layers of cultural and spiritual depth.
The curators structure the exhibition around the three core aspects of Xie Yie.
The first one is meaning, focusing on the topic's essence.
The second one is form, emphasizing creativity without mirroring reality.
And the third one is interest, which combines the first two into an interesting perspective.
Each piece, the curator says, invites visitors to pause, reflect and connect with the artist's emotional and spiritual world.
If you think about traditional Western art, let's say from the 15th, 16th century onwards, the point is to reflect the perfect reality, to give back as much of the reality on the canvas as possible.
And that was considered the highest art form, which is of course amazing in itself.
But the Chinese approach is quite the opposite, to not give back the perfect mirror of their topic, but to give back the essence of what they see or feel in this topic.
For visitors, the exhibition is more than an artistic display.
It's an intimate encounter with the timeless connection between humanity, nature and creativity.
That was Pablo Gutierrez reporting.
The annual Bangua Fashion Week in the Central African Republic has evolved into an influential platform and a leading fashion destination in Africa.
This year's event provided a platform for new local emerging designers.
It also sought to promote local arts and culture to an international audience.
Charles Magono has more.
The Central African Republic is an emerging hub of fashion and style, with a diverse culture and rich heritage.
From established names to rising local talents, Bangue Fashion Week sought to captivate audiences with its diverse designs.
Central Africans are still shy because a fashion event in this country is new to them.
It's not like in Cameroon or Congo, where there are already a lot of designers.
Here, people are starting to become more aware.
And this kind of event allows designers to make creations instead of being stuck on simple scenes.
Drawing inspiration from their surroundings and culture, designers use the event to highlight their creativity and innovation.
Some see the Fashion Week as crucial for designers to elevate their craft, access the international stage, and ultimately change the country's fashion industry.
And they can also think outside the books and dress, artists and even their everyday lives.
So Bangue Fashion Week is an event on the Central African cultural and fashion scene.
So I'm really calling on Central Africans to support this event.
Designers in the country hope they can create a new source of revenue from the fashion industry beyond the glitz of the runway.
That was Ciao Magono reporting.
We're at 58 past now, Beijing down to minus four Wednesday evening.
It'll be sunny and plus three on Thursday.
Nanshong's down to five and then it's overcast in 12.
Elsewhere in Asia, Islamabad's seven overnight sunny skies and 21 on Thursday.
That's it for this edition of the Beijing Hour, making news today.
Japan's foreign minister is in Beijing for talks with his Chinese counterpart and Syria's new foreign minister has vowed representation for every segment of society as the country rebuilds.
On behalf of the staff, this is Shane Bingham in the Chinese Capital, hoping you'll join us for the next edition of the Beijing Hour and open a window to the world together.
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