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This is the Beijing hour.
One hour of news and information brought to you every weekday.
Now here's your host, Shane Begum with you on this Friday, May 2nd, 2025.
You're listening to the Beijing hour, coming to you live from the Chinese capital.
On today's program, China is assessing the possibility for trade talks with the U .S., as Washington expresses willingness to negotiate.
China set a single -day record for domestic trips as tourism booms amid the May Day holiday.
The U .S. president has removed his national security advisor and says he'll nominate him for a new role.
In business, China's top economic regulator is moving to implement the country's new World Cup superfinal in Beijing, and Culture and Entertainment viewing the grand exhibitions at the Chinese Academy of Fine Arts.
Now checking the day's top stories.
China says it is assessing the possibility of trade talks with the United States after Washington expressed willingness to negotiate.
The Commerce Ministry said the U .S. should show sincerity and prepare to lift unilateral tariffs.
the ministry reiterated that China's doors are open to talk but will fight this u .s. initiated trade war till the end is stressed that China will not accept coercion and blackmail U .S. Chamber of Commerce's warned against irreparable harm to small businesses calling for immediate tariff relief in a letter to the White House the chamber asked the administration to grant automatic exclusions for any small business importer the chamber has also sent a letter to the Treasury's Commerce Secretary and Trade Representative calling on the administration to save small businesses and stave off a recession.
The U .S. exemption for duties on low -value imports ends on Friday.
Consumers can expect higher prices and delivery delays.
An estimated 4 million low -value parcels enter the U .S. every day.
Most of them are from China.
The provision, known as DeMinimus, allows those under US $800 to clear customs tax -free.
The Trump administration believes duty -free treatment on these parcels is harmful to American small business.
China says ending the exemption is destructive and will affect the interests of American consumers.
China's Ministry of Commerce says any adjustment to cross -border e -commerce should aim to bring more convenience to consumers.
Zhou Mi at the Chinese Academy of International Trade and Economic Cooperation says the impact will hit not only China.
When they are trying to target on China's products, it's not only aiming in the Chinese people but also, you know, a lot of supply chains are suffering from that, especially the small and medium size and the prices depending on the import of those products, I mean for the intermediate products and some of the raw materials.
And second, those consumers are also are getting much higher prices if they want to buy the things from China.
I think it's really a bad thing for the weaker part of the United States, communities and also do a lot of impacts on the e -commerce platforms, including Amazon's.
Multiple leading U .S. corporations have reported disappointing quarterly numbers.
Apple estimates that $900 million could be added to its Q2 costs.
The tech giant shares fell 3 .8 percent following the release of the results.
Amazon has issued weaker -than -expected guidance for Q2.
Analysts at Goldman Sachs warned that levies could reduce Amazon's operating profits by five to ten billion dollars this year.
McDonald's reported its steepest decline in U .S. sales since the COVID pandemic with same -store sales dropping 3 .6 % in Q1.
Research fellow Zhou Mi said it's important to keep these big companies running properly.
It is true that especially the multinational companies, depending on the international corporation including China, So I think that it's really a big matter if United States cannot have a predictable relation with China.
So I heard that there were several kinds of these messages being sent to Donald Trump, but I don't think why they will take care of that.
Because without enough messages and also enough information, I don't think the MNCs of United States can continue with their abilities in China and also in other places.
If without this kind of confidence, I don't think that the global supply chain will be in good order and we are still looking forward to some of these other uncertainties happened.
So I think that the MNCs are not benefit themselves but also benefit the world with the sustainable development of the trade and investment is crucial for the employment, taxes, and also lot of income even for the United States government.
That was Zhou Mi at the Chinese Academy of International Trade and Economic Cooperation.
A professor at New York University says he expects the trade dispute between the world's two largest economies to eventually cool down.
Nicholas Economitas at NYU's Stern School of Business says it's still the early stages, but the steep tariffs won't last because it's too painful for both countries.
Given how much pain there is on both countries, the leadership of both countries will find a way to start ratcheting down the numbers of the tariffs and eventually find a reasonable number in which they can both, which both sides, can live with.
The professor said US President Donald Trump should set out long -term objectives and a time frame of the policies to smooth out the fallout of his tariffs.
It's very, very important for the Trump administration to explain what exactly it's trying to do with tariffs and whether the tariffs are going to be a short -run negotiating tool or they're going to be there for some time, a year or longer to make sure that companies come back to the United States or to collect money.
So, these are completely different goals.
And the Trump administration and the secretary of the Treasury has to, they have to explain how exactly they expect things to work.
And especially in what horizon, what time horizon, they expect things to work.
Economies also commented on the U .S. economic performance in the first quarter, saying the sharp rise in imports was likely a result of companies stockpiling before the long -expected tariffs took effect.
Ningbo in eastern China is home to one of the world's largest ports, and it's showing resilience to the US tariffs.
Chen Tong reports. Containers carrying China -made photovoltaic solo panels departed on the last day before Labor Day holiday.
Their destination. Germany.
Previously, cargo shipped from Hefei, China to Europe, went through the China -Europe Railway Express, or traditional sea routes, which took about 40 days.
Now it only takes 27 days.
The Port of Ningbo launched this special line connected with a railway.
It bypasses transit port as its shortest route connecting the Yangtze River Delta with Europe.
Europe has become one of the major destinations for this terminal.
Between January and April, we handled 1 .3 million containers, a year -on -year increase of about six to seven percent.
While the port is fully prepared for potential foreign trade fluctuations, Exporters in the city are also shifting their focus to other markets.
Xu Ziyang has been exporting medical equipment for years.
As early as 2017, concerns over U .S. President Trump's policies toward China gave Xu time to prepare.
U .S. tariffs have had little impact on us.
In fact we started adjusting back in 2017 during his previous term.
problem. The current U .S. trend toward isolationism could be problematic.
So at that time, we aligned with China's national strategy to expand into Belt and Road countries as well as South American and African markets.
Xu sales jumped by 12 percent in 2024, and he expects continued growth this year.
In the first quarter of 2024, Ningbo handled over 12 million containers, 11 percent year -on -year increase.
While some are questioning the U .S tariffs will impact China's foreign trade, the city of Ningbo has demonstrated a remarkable resilience.
Entrepreneurs, the port and its logistic operations are getting ready to embrace the challenges.
Chen Tong on a major Chinese port getting ready to face some headwinds.
Coming up, booming tourism numbers in China for the May Day holiday.
A mischievous little monster packed in mystery boxes is setting off a global craze from Asia to North America.
The booboo, the fluffy toothy toy from China, is sending fans camping out overnight and driving resale prices sky high.
How did a China -made plush toy punch through the thick wall of tariffs and land in America's hottest news stores, opening one after another across the country?
What's behind the China -Made Toys' unstoppable rise?
Check out this week's chat lounge.
wherever you listen to podcasts.
and CGTN radio. 10 minutes past the hour.
China recorded more than three of number than 30 million domestic trips on the first day of the Labor Day holiday on Thursday and that represents a 6 .2 % increase.
The country's railway network carried a record of more 23 million passenger trips, up 11 .7%.
Cruise tourism is booming during the May Day holiday, with the northern port of Tianjin welcoming more than two thousand foreign visitors aboard three cruise ships on Thursday.
This marks the largest influx of international tourists in the city in recent years.
The travelers are from over 50 countries, including the United States, the Philippines and Russia.
In Shanghai, tourists are flocking to board China's first cruise ship, Adora Magic City, for a new vacation experience.
We drove here from Hangzhou straight to the dock in Shanghai and then boarded the cruise.
This ship is new and its dining options are more suited to Chinese taste.
We brought parents and children along on this journey.
Cruises are very convenient since meals and accommodations are included, making it hassle free.
Adora Magic City set sail on New Year's Day last year.
It's driven spending across various sectors, including tourism, hospitality, retail and entertainment.
Adora Cruise vice -president Gu Pengcheng says they've seen continued strength in China's cruise tourism market.
Data from the first quarter of this year shows that the cruise tourism industry is still doing well.
Ships are often full.
The industry is slowly becoming more self -sufficient, covering everything from design and building to supply and management, especially in operations, with almost entirely started using local goods and services.
Data shows that Shanghai's border authorities handled more than 180 cruise ships and 510 ,000 passengers in the first quarter.
Malaysia's extended its visa waiver for Chinese tourists for five years.
China exempted visa requirements for Malaysians in 2023, creating a two -way travel boom.
Data from online travel service Chunaar shows Kuala Lumpur and Kota Kinabalu are among the top ten destinations for flight ticket bookings for the May Day holiday.
Ryan Meltzer reports.
Tourists throng the Batu Caves Hindu temple complex outside Kuala Lumpur.
While the number of foreign tourists visiting Malaysia last year was still not back to its pre -pandemic levels, visitor numbers from China were higher.
The number of Chinese nationals surpassed only by those from neighboring Singapore.
And the visa waiver policy can take a lot of the credit.
The whole process is very simple.
After arriving in Kuala Lumpur, we could use this self -service channel to enter Malaysia.
We'd originally planned to travel within China, but when we heard about the visa exemption, we decided to go to Malaysia.
That made it very convenient.
If you want to come during the May Day holiday or National Day just for a few days, there's no need to apply for a visa, you can just come.
It's also helping lure people back.
When I came to Malaysia before, there were too many steps.
We had to queue in very long lines, now there's basically no queuing.
It's very quick to clear immigration.
It's very convenient.
Businesses are also feeling the benefits.
This extension is very much welcome news because it's always been very good for the industry, you know, looking towards China as one of its main source markets.
And this is going to mean that we're going to have a lot more time to plan, to really understand the Chinese market and to perhaps even cater to the new, upcoming trends that the Chinese tourists are looking for.
The number of Chinese visitors to Malaysia so far this year has already increased by around 30 per cent over the same period in 2024.
Last month, President Xi Jinping came here to the national palace to meet with Malaysia's king.
His visit to the country is expected to provide a further boost to Chinese tourism to Malaysia.
Following the waiver, China is also seeing record numbers of Malaysian visitors.
It's a welcome bright spot for the two countries' economies in the face of so much global uncertainty.
That was Ryan Meltzer, reporting from Kuala Lumpur.
Chengdu and Madrid are international friendship cities, a direct flight route now linking the southwestern Chinese city with the Spanish capital.
It's another sign of growing bonds between China and Spain following a recent official visit by Spanish Prime Minister Pedro Sanchez.
Ken Brown spoke with executives and passengers.
Direct flights from Madrid to Chengdu are now taking off four times a week.
The new route is like a golden bridge for both side.
So we think our connection between two countries and cities can blow more economy, trade, travel too.
It should be great for everybody.
Chengdu is a mega city with a population of over 20 million people, and it's China's third largest aviation hub with two international airports while 94 million people visited Spain last year a new record making it the second most visited country after France which hosted the 2024 Olympics.
The Spanish people is willing to travel to China to see how they change how they're beautiful in China it is and the Chinese travelers are willing to travel to Spain to enjoy the the good weather here.
The perfect flight scene here and also the delicious food.
It's amazing. They're queueing for the first -ever Sichuan Airlines direct flight from Madrid to Chengdu.
It's going to move around 1 ,000 people a week between the two cities, a big boost for business and tourism and for Chengdu Airport's aim of becoming a regional hub.
So I'm going to a pet product trade fair in Guangzhou, so flying to Zhaando now is definitely more convenient.
I was here travelling in Spain and this direct flight is perfect for me.
The direct flights to Madrid are also another sign of a growing trade and diplomatic relationship between the two nations, following Prime Minister Pedro Sanchez third visit to Beijing in three years earlier this April and his insistence that Spain and the EU should pursue closer ties with China despite warnings coming from Washington.
I was Ken Brown on better connectivity between China and Spain.
China's box office during the May Day holiday surpassed 300 million yuan.
This year's lineup offers a diverse mix of action comedy suspense and drama.
Cinema managers say this holiday season witnessed a soaring enthusiasm for films. During prime time, from 1 p .m. to 5 p .m. the basic occupancy rate can reach over 80 percent.
Even during non -prime time, the occupancy rate is around 45 percent.
Which is a significant increase compared to the Qingming Festival holiday.
We started preparing the screening schedule for the Labor Day holiday in mid -April.
we added several popular films such as the dumpling queen the open door and thunderbolt and arranged screenings from morning until night.
Starting from April 30th the number of moviegoers increased a significantly.
It is expected that the average daily number of moviegoers during this year's Labor Day holiday will increase by 50 % compared to last year.
Mainland moviegoers have 13 films to choose from during this five day holiday.
This year marks a decade since Macau received a pair of giant pandas from the Chinese mainland.
Kai Kai and Xin Xin became parents to twin cubs Jian Jian and Kung Kong the year after they arrived in the special administrative region in 2015.
The parents' names mean happy when they're put together and the brothers' names collectively mean good health.
These furry ambassadors have drawn tourists from around the globe to the Macau giant panda pavilion.
I am from Brazil and it's a great pleasure to be here because giant pandas are amazing creatures.
How they move, how they are gentle and at the same time they are so strong.
I came from Poland and we use a visa -free transfer here to Macau and we are very happy to see that pandas is here gives us very good pleasure for us.
It just feels special Macau actually has a giant Panda Pavilion.
No huge crowds. You can visit any time.
For locals, it's an amazing opportunity.
More than 300 ,000 visitors came to see the bears last year.
Macau's Municipal Affairs Bureau Chief said the giant pandas have helped promote Macau's cultural tourism and Chinese culture.
Coming up, the U .S. president announced his nominee for UN Ambassador.
Dive into news like never before with Deep Dive, the podcast from CGTN Radio.
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Round 19 past the hour.
U .S. President Donald Trump has removed Mike Waltz as National Security Advisor.
But Trump says he'll nominate Waltz as the ambassador to the United Nations.
Waltz said he'd been facing criticism since the Signalgate incident in March. U .S. Vice President J .D.
Vance insisted this wasn't a firing.
Trump praised Waltz's hard work and dedication.
White House correspondent Nathan King has more.
Mike Waltz, National Security Advisor, not really known amongst the American public.
He was a Florida congressman and military veteran until of course that fateful day where he added Jeffrey Dolberg, the journalist, editor of The Atlantic to that Signal Group signal is not recommended for national security.
Conversations on the Yemen airstrikes.
Remember Pete Hegseth, the current defense secretary, weighed in with which aircraft and other assets would be used.
There were fist bumps.
There were American flags, flames.
It really was embarrassment for the administration but Trump did not fire his.
He's still being walked out the door.
He's moving to be nominated as get through the Senate as the US Ambassador of the United Nations, and as a post for most countries.
But most surprising, I think, from this decision that we've seen in Trump's social media post is that Marco Rubio, he's giving Anti -National Security Advisor.
Now the last person to combine those roles was Henry Kissinger in the 1970s.
That was Nathan King on a major shakeup in the Trump administration.
Ukrainian President Volodymyr Zelensky says the minerals deal with the United States is an equal and fair agreement.
Zelensky recently met US President Donald Trump at the Vatican on the sidelines of Pope Francis's funeral.
Ukrainian officials also welcomed US investment that they say will help with recovery in the Audrey McAlpine reports.
Well, there's certainly a lot of positive feelings coming from Kiev at the moment.
You had Ukraine's prime minister, Denis Shmahl posting on Telegram that he looked forward to this new strategic partnership with the United States and that finally Ukraine could focus on rebuilding.
The question of whether or not Ukrainians feel any closer to safety or peace still has yet to be determined but there are recent announcements from the U .S. that they've approved this cash sale of $50 million in weapons to Ukraine.
This of course is a big pivot from what we've seen over the last few weeks where previously Trump said that he would not give any more weapons to Ukraine, but now we're seeing that Ukraine is willing to buy these weapons.
So certainly improving relations between the US and Ukraine.
We remember in February in the Oval Office where this relation between the United States and Ukraine broke down over this very topic.
I was with Zelensky that week in a press conference where he said he would not sign what decades and generations of Ukrainians would have to later pay back.
We remember the first version of this deal included Ukraine paying back military aid that it's already received.
Now the new version is slightly structured differently where they would only be paying back new weapons and new military aid.
As to Ukraine's current minerals, there was a study in 2022 from a Canadian group called SecDef who valued Ukraine's mineral resources at around 26 trillion dollars.
We should also remember that it's not finalized yet, they have signed it, but there are still some further ratifications that have to be done for it to be really set in stone.
That was Audrey McAlpine on Ukraine's reactions following the signing of the minerals deal with The adviser to the Ukrainian president says the deal means that Moscow has lost in its attempt to offer Washington a stake in these minerals.
A Russian Security Council deputy chairman Dmitry Medvedev said the same about Kiev and a top presidential aide said Ukraine finally gave in to pressure from Washington by signing that agreement.
Dasha Chernyshova reports from Moscow.
These statements coming from the Russian officials, not the Kremlin itself, because of public holiday.
But Russia does say that this deal only means that the American side has managed to force, finally, Ukraine to pressure it into signing this minerals deal.
And Dmitry Medvedev, Russia's former president, now the security official, said that Trump has not only forced Kiev to pay for the U .S. aid, he also has forced Kiev to pay for the U .S. aid with the national wealth of a disappearing country.
That's the phrase that's Medvedev has used.
But otherwise we are hearing from the Russian officials very similar statements, all suggesting that Ukraine has started its way towards becoming the neocolonial country, becoming semi -colony, rather, of the Western world.
One of the Russian senators has said that that is a very major step towards Ukrainian side losing its sovereignty, but also taking the note that Ukraine has chosen that voluntarily, that it was Ukraine's choice to receive the military supplies from the Western countries, and it was Ukraine's choice to actually move in this direction.
They are expecting more similar steps to come in the future.
Russia, on its part, is also holding its talks with the Americans to end the conflict in Ukraine, and on this track we understand Moscow will be willing to see Washington pressure and give more into starting direct talks with Russia.
The Russian official is earlier saying that it is impossible to make a deal in Ukraine without having the Ukrainian side at the negotiating table and there is still no clear answer from the Ukrainian side.
That was Dasha Chernyshova reporting.
The U .S. arrest of more than 1 ,100 people as part of an immigration crackdown has raised legal questions about the treatment of detainees, including some who've died in custody.
Many are seeking answers and demanding changes.
Nitza Soledad -Perez has more.
Federal officials say they're investigating what caused the death of a 44 -year -old Haitian woman while in the custody of the U .S. Immigration and Customs Enforcement agency last Friday.
Medical professionals pronounced Mariange Blaize dead at the Broward Transitional Center in Pomponie Beach, Florida, which had been held for about three weeks.
We are saddened and we are outraged.
Marielle Blaise was a key reminder of how our community is being treated and the fact that Haitian lives don't matter right now.
In Creole we say, noula.
That's means we are here and we are here to stay.
A fellow detainee interviewed by the Miami Herald reported that Blaise had complaints of chest pains.
He said she suffered from high blood pressure, was given medication and instructed to rest. The Broward Transitional Center, for the viewer's awareness, is a for -profit detention facility that's managed by the GEO group, right, and these for -profit centers have been problematic for a number of years.
There have been cases of mistreatment, of abuse, obviously putting a for -profit motive to the detention of human beings creates an incentive to keep them in detention when they could be freed.
Just south of Palm Point Beach at another Florida detention facility, the oldest in the U .S. Two other detainees have died since President Trump launched his crackdown on illegal migration.
Oksana Teresuk's husband was among them.
Laksim Chernyak, 44, was a Ukrainian seeking refuge in the U .S. under humanitarian parole.
He died at Chrome Detention Center from hypertension that led to brain bleed and a stroke, according to immigration attorneys.
The state of his health was getting worse every day.
He had high blood pressure, wheezing, fever and other things.
With every day his health was getting worse.
He told me about this every day, but he received no medical care besides painkillers.
At Chrome, the detainee population has searched to nearly three times its intended capacity of 600, raising serious concerns about overcrowding and unsanitary conditions inside the facility.
We just saw the operation that allegedly detained 800 people during the past weekend at a time when our detention centers are already overcrowded.
Right. When they're this overcrowded, of course, people are not getting adequate medical care.
We are worried about issues of capacity, but what we really believe right now is the question of access.
The question that we do not have the proper access to our loved ones, to our sisters and brothers who are being detained there.
In March, Mexican detainee Osiriz Vazquez documented conditions at chromosome, capturing video of fellow detainees sleeping on floors and enduring freezing temperatures.
Nationwide, detentions have reached nearly 48 ,000 as of mid -March. A 21 per cent increase just since President Trump took office.
That was Nitza Soledad Perez reporting.
Route 29 past the hour, Beijing down to 11 degrees Friday evening.
It's sunny and 25 on Saturday.
Nanchang's down to 21 then cloudy conditions and 31 degrees.
elsewhere in Asia, Islamabad's 20 this evening.
It's overcast and 32 tomorrow.
Vientiane's at 25 overnight.
a slight rainfall and 35 degrees on Saturday.
Phnom Penh is down to 24, followed by a slight rain and 33.
In Africa, Nairobi is getting a slight rainfall and 27 degrees Celsius on Saturday.
It's time for a short break so far this hour.
China is assessing the possibility for trade talks with the United States as Washington expresses willingness to negotiate.
China set a single -day record for domestic trips as tourism booms amid the May Day holiday.
The U .S. president has removed his national security advisor and will nominate him for a new role.
Shane Bigam with you, stay with us here on the Beijing Hour.
Shh, listen up. Can you hear the heartbeat of our world?
It's vibrant, and pulsating with the essence of life itself.
From the stem of trees, to the gurgle of rivers.
From the silent strength of mountains, to the icy whispers of glaciers.
Even the solid ground beneath our feet.
And right there, in the mist of all, beats the heart of humanity.
What if those other heartbeats were to stop?
Would ours keep on ticking?
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 wavelength every week to find out what's real with China Africa talk.
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sports the diving world cups super final in Beijing and culture and entertainment, viewing the grad exhibitions of the Central Academy of Fine Arts.
To contact us you can email radio at cgtn .com or follow our ex -account at cgtn radio.
Now a check of the day's headline news.
China says its door is always open for dialogue with the United States on the issue of tariffs.
The Chinese Commerce Ministry says U .S. officials have repeatedly expressed willingness to negotiate with China.
The Ministry says Beijing's evaluating the possibility for trade talks with Washington.
It reaffirms China's consistent stance on the issues and the country will fight to the end in the US -provoked trade war.
The ministry says if the US wants to negotiate it should show sincerity, correcting wrong practices and lift unilateral additional tariffs.
Former US Treasury Secretary Janet Yellen's warning that sweeping tariffs could push the U .S. economy into recession.
In an interview with the Financial Times, Yellen said the tariffs had raised costs for American businesses and consumers.
She also cautioned that restrictions on Chinese goods could disrupt the supply of critical minerals, potentially crippling U .S. industries that rely on them.
Her comments come as new figures show that the U .S. economy contracted by 0 .3 % in the first quarter, the first decline in three years.
Yellen is the latest in a growing chorus of economists and business leaders, sounding the alarm as consumer and business confidence takes a hit from the new trade measures.
Ukrainian President Volodymyr Zelensky has called Kyiv's mineral deal with the United States a truly equal and fair agreement and the first result of his meeting with US President Donald Trump at the Vatican.
Zelensky said the deal opens the way for the modernization of industries.
Ukraine's parliament will ratify the agreement in the coming weeks.
The first Deputy Prime Minister said officials have to sort out several details before a US -Ukraine investment fund can become operational.
A top Russian presidential aide said Ukraine finally gave in to pressure from Washington by signing that minerals deal.
The World Health Organization warned that global health funding is facing historic challenges as donor countries reduce their contributions.
WHO Director General Tedros Adhanom Ghebreyesus was commenting on the Donald Trump administration's decision to withdraw from the global health agency.
Of course, donor countries can spend their money where they want and they have the right to spend it the way they want.
And we're grateful to those that have for decades funded health systems globally.
But instead of an orderly decline, or orderly withdrawal, the abrupt cuts to overseas development aid.
And in a changing economic and trade environment are suing chaos in public health.
The Trump administration's blamed the WHO for mishandling the COVID -19 pandemic and other international health crises.
The U .S. has been the agency's biggest financial backer, contributing around 18 percent of its overall funding.
The WHO is facing an income gap of 600 million U .S. dollars this year.
It's reportedly proposed slashing its 2026 -27 budget by 21 percent, more than $1 billion, and reducing staff numbers.
Air India is reportedly facing around $600 million in additional costs if a ban from Pakistan's airspace lasts for a year.
A Reuters report says the airline is asking the federal government for compensation.
Pakistan has shut its airspace to Indian carriers in a for Tat retaliation following last week's attack on tourists in Indian -controlled Kashmir.
Indian airlines are now bracing for higher fuel costs and longer journey times because of the ban.
Air India has more than a quarter of the market share in India.
Its growth is already constrained by jet delivery delays from Boeing and Airbus.
The company reported a net loss of $520 million dollars in fiscal 2023 -24.
Former South Korean Prime Minister Handuk Suh announced his presidential run after stepping down on Thursday and said he made up his mind to find out what he can do for the future of the country, vowing all out efforts to be selected by the people in the presidential election on June 3rd. Australian ship builder Incad has launched the world's largest battery -powered ship.
The Tasmanian -based company says the vessel has an energy storage system four times larger than any previous marine installation in the world.
Hall 096 can carry up to 2100 passengers and 225 vehicles.
INCAT's chief executive says the project proves that low emission transport solutions are ready now.
Sea trials for that vessel begin later this year.
coming up in business.
China's top economic regulators moving to implement the country's new private sector promotion law.
The Beijing hour. Your window on China, and the rest of the world.
37 past, starting with the markets and stock markets on the Chinese mainland are closed on Friday because of the May Day holiday.
Elsewhere in China the Hong Kong stock market surged over 1 .7 percent.
In Japan, the stock market finished higher on Friday the Nikkei was up one percent.
An official with China's National Development and Reform Commission says the top economic regulator will work to promote the implementation of the newly passed private sector promotion law.
Liu Min's the deputy director of the Private Sector Development Bureau under the NDRC.
She says the Commission will work with other departments and local authorities to improve supporting systems. We will make continuous and increasing efforts to remove barriers to market access and to fair competition, to address the issue of overdue payments to private enterprises, to protect the lawful rights and interests of private businesses and entrepreneurs by the law, to implement various relief policies, to help private enterprises shoulder their responsibilities of the era, so as to help translate legal systems into concrete actions and tangible outcomes that promote the high -quality
development of the private sector.
China's top legislative body passed the private sector promotion law on Wednesday, the country's first fundamental legislation dedicated to the private sector.
It's established a legal backing for the steady and healthy growth of the sector, including over 57 million private firms and over 100 million self -employed individuals.
Home sales across China have continued a recovery trend in the first quarter of the year, thanks to a series of supportive policies to boost demand.
The transaction volumes continued to increase in first tier cities.
The number of newly built apartments in Beijing under contract for sale reached 9 ,700 in the first three months, up around 12%.
A sales manager with a newly built property in the Chinese capital said they will receive an average of 200 to 300 groups of customers every day, and the number is even higher on weekends.
Basically, we've never stopped receiving customers, and we often have to receive several groups of customers at the same time, from subscription to contract signing and then to the subsequent online signing of documents.
There has been a significant turning of the cycle of transactions.
I can feel the customer's enthusiasm and confidence in buying apartments have increased.
Total area of new properties under contract in Guangzhou was nearly 2 .2 million square meters from January to March. Transaction area of new commercial houses in Shanghai rose by ten and a half percent during the period.
Wu Jing's at the real estate center of Tsinghua University and said the strengthening of the role of various favorable policies has boosted the confidence of property buyers.
The implementation of a series of financial and tax policies will provide financial support for families with rigid demand.
Encouraged by the continued recovery of the housing market, their confidence has also been restored.
So many of them are changing their wait and see attitude and taking actions to make purchases, which has led to active transactions in the new and pre -earned housing markets.
Strong real estate markets also spreading to some second and even third tier cities.
cities like Wuhan and Guiyang saw an increase in the transaction volume of local new properties in the first quarter.
The ongoing third and final phase of the China import and export fair has seen record high attendance.
The third phase mainly focuses on lifestyle products such as toys, clothes, baby goods and sports gear.
The Canton Fair as it's also known has long been seen as a parameter for China's foreign trade.
Huang Fei spoke to some of the participants to find out how the attendance is booming.
No break during the Labor Day holiday.
It's business as usual at the world's largest trade fair.
A record number of overseas buyers attending the spring session at the Canton Fair.
Many re -connecting with longtime partners.
Although all the current quality have. Our European clients always show up on a loyal and honor contracts.
Our factories are running at full steam.
And it's a timely return by dedicated and reliable partners.
It was only weeks ago that the U .S. launched a global trade war with sweeping tariffs on imports.
This Zhejiang manufacturer once relied heavily on American buyers.
Now, those orders are on pause.
When the tariffs were at 20 percent, U .S. clients would still try to work around it.
But now, the new rates is just nonsense.
Everyone's waiting for clarity.
But I'm not worried.
Even without the U .S., we've got plenty of other markets.
While U .S. clients are sitting out, others are stepping in.
We just entered but we are already overwhelmed.
So many choices and original ideas.
Talking about the quality first, competitive prices, the quantities that you are looking for, then you are in the right place.
Orders are pouring in from the global south.
China's affordable products and components are powering industrialisation in these fast -growing markets.
And U .S. protectionism may be pushing them even closer.
Also South Africa now being part of the bricks kinda feels like we are being bullied around.
We all hope it comes to an end and very quickly so that we can resume to doing business fairly.
In a bid to support exporters, Canton Fair organizers have cut their rental fees by half.
Beijing is pledging further openness, which aims to stabilize jobs and businesses, bolster market confidence.
Over 220 ,000 overseas buyers have attended the first two phases of the Spring Canton Fair, with intended deals already topping US $2 billion.
The record turnout sends a clear message.
Despite threats of tariffs from the U .S., the world still wants to trade with China.
The supply chain remains vital, and for many, simply impossible to replace.
That was Huang Fei reporting.
Some export -oriented provinces and cities in East China are taking steps to help foreign trade enterprises shift to the domestic market amid the global trade turmoil that's been caused by the U .S. tariff abuse.
The Shanghai municipal government has held a business matchmaking event, bringing together over 80 representatives from foreign trade companies and over 20 from local malls and supermarkets.
The local enterprises will offer help after clarifying the exporter's business models and current needs.
The assistance includes subsidies for export companies to move in and policies to add the export products onto local store shelves.
Foreign Trade Company representative Wang Jiagong says the support is tremendous.
It really boosts our confidence.
It also strengthens our company's vitality in research and development and allows us to focus more of a product on the domestic market.
Local supermarkets in Hefei have set up special sections for domestic sales of foreign trade products, attracting many local residents.
They said that the products taste good, so I'm here again.
The products are quite novel for us customers and I think they're definitely worth trying.
The city has also partnered with e -commerce platforms to bridge exporters with domestic customers.
An estimated 1 .3 million visitors have attended Auto Shanghai 2025, one of the world's largest auto shows.
Now show runs till Friday.
It explains how the exhibition became an important driver for unleashing consumer spending and boosting the city's economic growth.
The first day of the five day Mayday holiday, people from around the world come to Shanghai to join one of the largest auto exhibitions in the world.
We came to see cars, their appearance and their development.
And I'm coming here to see what are the trends, also talk with the companies to see if they are open and interested in some expansion plans to Europe.
That's great. It's fantastic.
It's really Shanghai's beautiful city and it's very impressive here.
Authorities expect some 1 .3 million visitors this year during the 10 -day event.
Many international automakers choose this platform for debuts of their most important products.
Large exhibitions like the Shanghai Auto Show has become an important platform for driving a city's economic growth.
According to the annual report on China's exhibition industry released by the China Council for the Promotion of International Trade, China held over 3 ,800 economic and trade exhibitions in 2024.
The eastern region, given its vibrancy of economy, organized the highest number, accounting for 67 .3 percent of the country's total.
First lay exhibitions will create revenue for the exhibition centers and companies, including the rental of venues, the construction of booths, and the rental of equipment, etc. Second lay exhibitions like the autoshow we saw this time will bring together a large number of exhibitors, buyers, and visitors.
So it actually forms a huge consumer crowd in the city, stimulating the city's consumer market.
To further unleash consumption potential, organizers have released the vouchers exclusively designed for visitors attending the Shanghai Auto Show.
And the city government also extended its car trade -in program.
We will further implement car trading policies.
Hybrids will be eligible for trading in electric cars.
To those trading for fuel vehicles, A 30 thousand yuan subsidy will be given, a thousand yuan more compared to last year.
We can do a lot more with Exhibition Plus.
For example, Exhibition Plus tourism to create distinctive travel routes, Exhibition Plus business such as the sales and discounts around the auto show.
Exhibition Plus sports, Exhibition Plus culture and Exhibition Plus technology.
Consumption potential will be further unleashed by integrating the exhibition industry with other sectors.
Shanghai has vowed to be the centre for international exhibitions this year.
The city held almost 900 exhibitions last year.
And many, including the Shanghai Auto Show, have earned a great reputation around the world.
That was Wu Bin reporting.
Coming up in Sports, the diving World Cup Superfinal in Beijing.
Olympic champion Chen Xinwen faces a crisis of confidence with puzzling inconsistency on the tour.
Meanwhile, Novak Djokovic stumbles through a winless clay season, with his quest for 100th title Hany in the balance.
What's behind their struggles?
Unpack the pressure, the strategy and the stakes in the latest episode of Side Line Story.
Subscribe now on your favorite podcast platforms. 48 past the hour in sports.
now we start with diving and Quan Hong Chan and Chen Yuxi have won gold in the women's 10 -meter synchronized platform at the diving world Super Cup, rather, the diving World Cup super final in Beijing.
The reigning Olympic champions from China dominated Friday's competition, finishing with 350 .88 points.
That was almost 50 points ahead of the second -place pair from Russia.
Chung, Zilong and Zhu Zifeng claim the men's title in this category.
Chinese divers earlier took golds in the men's and women's three -metre synchronized events.
The diving competition features three legs.
Chinese divers secured 15 golds across the first two events in Mexico and Canada.
Nine titles will be decided at the Beijing superfinal.
At Paris 2024, China swept all eight diving golds, a first in Olympic history.
In basketball from the CBA playoffs, the Zhejiang Lions outplayed the Liaoning Flying Leopards, 109 -98, sweeping the defending champions' 3 -0 in the semifinals.
Zhejiang qualified for their third appearance in the finals.
They lost both of their previous two finals 4 -0 to Liaoning in 2018 and 22.
Head coach Wen Bua expressed respect for Liaoning after the game.
All of Liaoning's players fought until the end of the game and I think they deserve our respect.
We also have problems to reflect on like our slow start and slacking off in the fourth quarter.
And I hope we can fix them.
Regular season MVP Hu Jinchou had to gain 36 points in 10 rebounds for Zhejiang.
Zhao Zhewei finished with 17 points, 6 rebounds and 5 assists for Liaoning.
Chajung will now face either the Beijing Ducks or Shanxi Long in the CBA finals.
In the NBA, the visiting New York Knicks advanced to the Eastern Conference semi -finals with a 116 to 113 victory over the Detroit Pistons in game six.
The Knicks finished off a 4 -2 series win over the Pistons and moved into the Conference semifinals for the third straight year.
Jaelin Brunson scored 40 points for the Knicks, including the tie -breaking 3 -pointer with 4 .3 seconds left. New York will face the Celtics starting in Boston on Monday The Los Angeles Clippers remained alive in their first round series with the Denver Nuggets Winning 1 -11 to 105 on Thursday night.
The Clippers evened the Western Conference matchup at three games apiece Game 7s on Saturday night in Denver in Football three first half goals helped Manchester United put themselves on the cusp of the Europa League final The Premier League side earned a 3 -0 semifinal first leg win away at Athletic Bilbao.
Midfielder Casemiro headed home the first goal for United in the 30th minute capitalizing on a cross from Harry Maguire.
Five minutes later Bilbao center back Daniel Vivian pulled down Rasmus Hoyland in the box and received a red card after a VAR check while United got a penalty kick.
Red Devils captain Bruno Fernandes converted from the spot to make it 2 -0.
Athletical were still reorganizing when Fernandez made a 3 -0, latching onto Manuel Ugarte's through ball to finish scoring for the night.
United manager Ruben Amorim praised his players for their defense after taking the lead.
I think his best result, because nobody expected this result.
But again, I think you saw two games today.
The first 25 minutes and then after the goal and also with the sent off the game changed.
That was a good thing, also a good thing in the second half we tried to be cautious.
We created chances but the most important thing is that the opponent didn't get many shots to our goal and that was really important.
In the other semifinal Tottenham Hotspur put aside their woeful domestic season with a 3 -1 home victory against Norway's Bodo Glimt leaving them within sight of the Europa League final on Thursday.
Tottenham is on course for their worst Premier League season since 1993 -94, with 19 defeats from 34 games, leaving them in 16th place.
Bodo is the first Norwegian team to reach a European semi -final.
In tennis from the WTA Madrid Open, fourth seeded Koko Goff dominated defending champion Iga Swantek, losing just two games and reaching her first final in the Spanish capital.
Goff is looking for her first title this season.
She'll face world number one Irina Sabolanko who beat Elina Svitolina to reach her fourth Madrid final.
Just ahead in culture and entertainment viewing the grad exhibitions at the Central Academy of Fine Arts.
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In culture and entertainment, for art professionals and aficionados in Beijing, few summer events are more exciting than the graduation exhibitions of the Central Academy of Fine Arts, where they look to discover stunning new works and explore fresh perspectives.
The Academy kicked off the highly anticipated annual showcase this week at its Art Museum.
Themed Chasing the Light, the 2025 graduation exhibitions unfold in three parts.
The first installment of the Graduation Showcase features over 3 ,000 artworks created by graduate and PhD students from the Academy, running until May 14.
The exhibition presents a diverse range of artistic expressions, including paintings, prints, sculptures, installations, as well as calligraphy and design works.
This will be followed by two undergraduate student exhibitions.
The Village of Hufengshan in Chongqing is a hidden gem surrounded by mountains.
Its unique artistic atmosphere and natural beauty attracts artists and visitors from all over the country.
The village is a remarkable fusion of art and rural life.
Zhang Shuang has more.
With the establishment of the university town, faculty and students from 15 universities, including the Sichuan Fine Arts Institute and Chongqing University, have successfully shadowed in this tranquil area, infusing the village with an artistic spirit.
Currently, over 60 artists have shadowed in Hufengshan village, creating more than 30 creative spaces, thus establishing Hufengshan village as a genuine art village.
The seasonal variation of flora throughout the year is a key factor for me to create my work here.
I also find the location idea for field studies, which helps foster creative inspiration.
I have never been here before, but I found myself immediately captivated by the floral arrangement adorning the entrance.
Ascending the staircase, I peered inside and was instantly drawn to the building itself.
Its aesthetic appeal was undeniable, and the artistic ambience was palpable, creating a sense of profound comfort.
Beyond the artistic studios, Hu Fengshan Village boasts numerous art -infused country yards and guest houses, but only drawing a significant influx of visitors.
That has spurred the growth of local tourism.
Immersed in this rich artistic atmosphere, visitors can fully appreciate the unique charm of the art village.
Upon my initial arrival, I was immediately struck by the serene ambiance, Reminiscent of a private, intimate courtyard, the welcoming atmosphere fostered a sense of familiarity.
Tourists embark on a rural art journey akin to discovering hidden treasures within the mountains.
The arrival of artists has further provided employment opportunities for local villagers, thereby stimulating economic development.
Local farmers have seen an average annual income increase of approximately 3800 yuan through the leasing of undertilized housing and the sale of agricultural products, thereby generating over 200 jobs.
Hu Fung Shan village is actively establishing diverse platforms for artistic exchange, with the aim of propelling select masterpieces onto the international art stage.
It is anticipated that this initiative will foster increased international visitation as are transcends geographical boundaries.
That was Jiang Shuang reporting.
57 passing out. Check in the forecast before we go for the weekend.
Beijing's down to 11 on Friday evening, sunny and 25 on Saturday.
Nanshong's down to 21, then cloudy conditions in 31.
elsewhere in Asia, Islamabad's 20 overnight, then overcast in 32 on Saturday, Vientiane's down to 25, followed by a slight rainfall in 35.
I'll put on Penn's 24 this evening, then a slight rain in 33.
In Africa, Nairobi is getting some rainfall and 27 degrees on Saturday.
Kampala's down to 21, then a slight rain in 25.
Chuba's 23 this evening, a slight rain in 35 tomorrow.
And finally, to Oceania, Port Vila, 25 overnight, then a slight rain in 30.
And that's it for this edition of The Beijing Hour, making news today.
China's assessing the possibility of trade talks with the U .S. as Washington expresses willingness to negotiate.
And China's set a single day record for domestic trips on this Mayday long weekend.
On behalf of the staff, Shane Biggum 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.
your window on China and the rest of the world.
He can't live without the Yellow River in his eyes.
The Yellow River is so noble and elegant.
Both my grandpa and dad made the living from the river.
Would you like to move away from the Yellow River?
I don't think I will.
I love it so much. The Yellow River, the second -longest river in China, is regarded as a shaping force in the history, economy and culture of Northern China.
Today, about 100 million people live within its water basin, making up nearly 9 % of the country's population.
How is climate change felt at its headwaters, and what are the locals doing to cope with it?
What are the descendants of the boatmen doing?
What has kept some people from leaving their home village by the river?
And what has drawn others back?
Could the fading fishing community revive in a time of digital transformation?
From 2021 to 2024, our reporters visited the upper, middle and lower reaches of the Yellow River, talk to herders, farmers, boatmen, fishermen and eco -activists who share a close bond with the river and present their stories in pictures, podcasts and videos or in our 12 part series The Yellow River Mosaic available only on CGTN Radio