the unmissable news stories of the day.
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 Bigham with you on this Wednesday, December 31st, 2025.
You're listening to the Beijing Hour, coming to you live from the Chinese capital.
On today's program.
The Chinese president delivered a New Year's speech via China Media Group and the internet.
China says the military exercises around Taiwan served as a warning to separatist forces on the island and against foreign interference in the Taiwan question.
The US has issued new sanctions targeting Iran's drone trade with Venezuela.
In business, China's manufacturing sector is showing signs of recovery.
In sports, a roundup of the latest action in the English Premier League.
In culture and entertainment, previewing some highlights of China Media Group's New Year's Eve gala.
On New Year's Eve, Chinese President Xi Jinping delivered his 2026 New Year message through China Media Group and the internet.
The following is the full speech.
Comrades and friends, ladies and gentlemen, greetings to all.
Year after year, life opens a fresh chapter.
As the new year begins, I extend my best wishes to you from Beijing.
The year 2025 marks the completion of China's 14th five-year plan for economic and social development.
Over the past five years, we have pressed ahead with enterprise and fortitude and overcome many difficulties and challenges.
We met the targets in the plan and made solid advances on the new journey of Chinese modernization.
Our economic output has crossed thresholds one after another, and it is expected to reach 140 trillion yuan this year.
Our economic strength, scientific and technological abilities, defense capabilities and composite national strength all reached new heights.
Clear waters and large mountains have become a salient feature of our landscape.
Our people enjoy a growing sense of gain, happiness and security.
The past five years have been a truly remarkable journey, and our accomplishments have not come easily.
Your unwavering hard work has made our nation thrive and prosper.
I salute you all for your exceptional diligence and invaluable contributions.
This year is full of indelible memories.
We solemnly commemorated the 80th anniversary of the victory of the Chinese people's war of resistance against Japanese aggression and the world anti-fascist war, and established the Taiwan Recovery Day.
These grand national events were majestic and powerful, and the glory of victory will shine through the pages of history.
They are inspiring all the sons and daughters of the Chinese nation to remember history, honor fallen heroes, cherish peace and create a better future.
They are rallying a mighty force for the great rejuvenation of our nation.
We sought to energize high-quality development through innovation.
We integrated science and technology deeply with industries and made a stream of new innovations.
Many large AI models have been competing in a race to the top, and breakthroughs have been achieved in the research and development of our own chips.
All this has turned China into one of the economies with the fastest growing innovation capabilities.
The Tianwen-2 probe began its star-chasing journey to explore asteroids and comets.
Construction of the hydropower project at the lower reaches of the Yalu-Zangbo River started.
China's first aircraft carrier equipped with an electromagnetic catapult system was officially commissioned.
Humanoid robots did kung fu kicks and drones performed spectacular light shows.
Inventions and innovations have boosted new quality productive forces and added colorful dimensions to our lives.
We endeavor to nurture our spiritual home with cultural development.
There was a surge in public interest in cultural relics, museums and intangible cultural heritage.
A new Chinese cultural site was added to the World Heritage List.
Cultural IPs such as Wukong and Nezha became global hits.
The younger generation came to deem classic Chinese culture as the finest form of aesthetic expression.
The cultural and tourism sectors thrived.
The Super League football games in our cities and villages attracted numerous fans.
Ice and snow sports ignited people's passion for the winter season.
Tradition is now embracing modernity. and the Chinese culture is shining in even greater splendor.
We joined hands to build a better life and enjoyed it together.
I attended celebrations in Xizang and Xinjiang.
From the snow-covered plateau to both sides of the Tianshan Mountains, People of various ethnic groups are united as one, like seeds of a pomegranate sticking together.
With white katas and passionate singing and dancing, they express their love of the motherland and the happiness they enjoy.
No issue of the people is too small.
We care for every leaf and tend every branch in the garden of people's well-being.
Over the past year, the rise and increase of the workforce in new forms of employment have been better protected.
Facilities have been upgraded to bring more convenience to the elderly, and each family with child care needs has received a subsidy of 300 yuan per month.
When the happy home of daily life fills every home, the big family of our nation will go from strength to strength.
我们继续敞开胸怀,拥抱世界。 上河组织天津峰会,全球妇女峰会,成功举办。 We continue to embrace the world with open arms.
The Shanghai Corporation Organization Summit in Tianjin and the Global Leaders Meeting on Women were very successful, and island-wide special customs operations were launched in the Hainan Tree Trade Port.
To better address climate change, China announced new nationally determined contributions.
After announcing the three global initiatives on development, security and civilization, I put forward the Global Governance Initiative to promote a more just and equitable global governance system.
The world today is undergoing both changes and turbulence, and some regions are still engulfed in war.
China always stands on the right side of history and is ready to work with all countries to advance world peace and development and build a community with a shared future for humanity.
Not long ago, I attended the opening ceremony of the National Games and I was glad to see Guangdong, Hong Kong and Macau coming together in unity and acting in unison.
We should unswervingly implement the policy of one country, two systems and support Hong Kong and Macau in better integrating into the overall development of our country and maintaining long-term prosperity and stability.
We Chinese on both sides of the Taiwan Strait share a bond of blood and kingship.
The reunification of our motherland, a trend of the times, is unstoppable.
党兴方能国强,我们开展深入贯彻中央八项规定精神学习教育。
Only a strong Communist Party of China can make our country strong.
We launched a study and education program on fully implementing the Central Party leadership's eight-point decision on improving party and government conduct.
We exercised strict governance of the party through credible measures and promoted the party's self-revolution to fight corruption and advance healthy governance.
As a result, the conduct of our party and government steadily improved.
We must stay true to our original aspiration and founding mission and pursue our goal with perseverance and dedication.
We should continue to give a good answer to the question on how to maintain long-term governance put forth in a cave dwelling in Yan'an, and prove ourselves worthy of the people's expectation in the new era.
The year 2026 marks the beginning of the 15th five-year plan.
A successful venture should start with a good plan and with clear goals set.
We should focus on our goals and tasks, boost confidence, and build momentum to press ahead.
We should take solid steps to promote high-quality development, further deepen the reform, opening up across the board, deliver prosperity for all and write a new chapter in the story of China's miracle.
The dream lofty, the journey long, bold strides will get us there.
Let us charge ahead like horses with courage, vitality and energy.
Fight for our dreams and our happiness and turn our great vision into beautiful realities.
The sun of the new year will soon rise.
May our great motherland stand in magnificence.
May the fields across the country deliver good harvest.
May our nation bathe in the glory of the morning.
May you all enjoy life to the fullest and achieve every success.
May all your dreams come true.
Coming up.
China says this week's military drills around Taiwan served as a warning to separatist forces on the island.
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A Chinese mainland spokesperson says the People's Liberation Army military exercises around Taiwan this week served as a solemn warning to separatist forces and foreign interference.
State Council, Taiwan Affairs Office spokesperson Zhang Han described the drills as necessary and just measures to defend national sovereignty and territorial integrity.
She added that the trend toward national reunification is unstoppable and should not be underestimated.
Yu Li has more.
At a press conference, the Taiwan Affairs Office of the State Council spokesperson responded to questions on the PLA's military exercises around Taiwan.
The message was pretty clear.
The drills are a warning to Taiwan independent separatist forces and external interference and are not directed at Taiwan compatriots.
Compatriots on both sides of the Taiwan Strait belong to one family.
The PLA drills are targeted solely at Taiwan, independent separatist acts and external interference, not at our fellow Taiwan compatriots.
We urge our Taiwan compatriots to recognize the grave dangers of the independence path, stand with us against separatism and foreign interference, and work together to safeguard our common homeland, pursue national reunification and achieve the rejuvenation of the Chinese nation.
On December 18th, the United States announced an US11 billion arms package for Taiwan, the largest on record.
Yet a checker by George Mason University shows that more than 21 billion worth of US weapons sold to Taiwan remain undelivered.
Simply put, the money has been paid but the weapons have yet to arrive.
The spokesperson pointed out that the Lai Ching Do authorities are squandering Taiwan's hard-earned money and compromising the island's interests.
She urged the public to draw a clear line with Taiwan's independent separatists.
That was Yu Li reporting.
Professor Zheng Jian with Xiamen University says the PLA has many ways to counter weapons acquired by the Democratic Progressive Party authorities in Taiwan.
The DPP authorities have purchased HIMARS from the United States.
One key characteristic of the system is that it remains concealed in peacetime, but would quickly emerge in wartime.
In this drill, the PLA practiced striking moving targets on the ground.
I think this is directed at HIMARS.
Through this exercise, the message is twofold.
First, no matter how many weapons the DPP authorities buy, they cannot change the outcome of defeat.
Second, the PLA already has established ways to counter these weapons.
This drill is a direct response to Li Qingde's attempt to seek independence by relying on foreign forces.
It is meant to warn that, as long as he continues down this path, the constraints will only tighten further.
Soon Tianyuan has a review of the drills, codenamed Justice Mission 2025.
Tuesday marked the second day of Justice Mission 2025, the People's Liberation Army, or PLA's large-scale military exercise around Taiwan Island.
Drills on Tuesday focus on assaults against maritime targets, along with anti-air and anti-submarine operations in areas to the north and south of Taiwan Island.
The PLA Eastern Theater Command dispatched task forces including amphibious assault ships destroyers, frigates and unmanned aerial vehicles to conduct exercises in waters to the east of the island.
Meanwhile, long-range live-fire drills were also carried out in waters to the north and south of the island.
The Chinese military said all rounds hit their targets and the objectives were achieved.
On Monday, the first day of Justice Mission 2025, the PLA conducted large-scale combat readiness patrols around Taiwan.
Naval and air forces approaches from multiple directions, carrying out joint drills across the Taiwan Strait and surrounding waters and airspace.
The exercises involved naval, air and rocket forces and were aimed at testing integrated joint combat capabilities, rapid maneuvering and systematic control across multiple domains.
China's Ministry of National Defense said the joint drills serve as a stern warning to separate its forces advocating Taiwan independence, as well as to external interference.
The ministry urged relevant countries to abandon the illusion of using Taiwan to contain China and to refrain from challenging China's resolve in safeguarding its core interests.
The exercises follow a recent U.S. announcement of an $11 billion arms sale to Taiwan region.
That was Sun Tianyuan in Fujian province.
Russian Foreign Ministry says Russia recognizes Taiwan as an inalienable part of China and opposes any form of Taiwan independence.
It said, some countries are using the Taiwan question as an instrument of military and strategic containment against China.
The ministry said Russia's principal position on the Taiwan question is unchanged, adding that the Taiwan question is China's internal affair and China has every legitimate basis to defend its sovereignty and territorial integrity.
Koichi Nakano is a professor of political science at Sophia University in Japan.
He says Prime Minister Sanai Takeuchi's remarks on China's Taiwan region are unconstitutional and damaging bilateral ties.
I believe Sanai Takeichi's remarks are unthinkable from the perspective of Japan's constitution.
They are also extremely damaging when viewed against the backdrop of the normalization of post-war China-Japan relations and the friendly ties between our two countries.
So, whether politically or constitutionally, these comments are completely unacceptable.
And they absolutely should be retracted.
On a practical level, I'm afraid the only viable option left is for her to resign.
Nakano also warned that Japan's diminishing awareness of history is harming relations with China.
He said Japan's most pressing issue is the gradual loss of public understanding of its wartime aggression.
He also said feelings of remorse and apologies for the history have not been effectively passed down to later generations.
Nakano added that Japan can only rebuild ties with China through honest history-telling.
Japan's remarks and actions promoting militarism have triggered criticism from around the world.
Japan appears to be instrumentalizing militarization as a pretext for what it calls legitimate self-defense and integrating this into its foreign policy framework.
These remarks are by no means isolated incidents.
They are bound to have a disruptive impact on the international order, particularly the regional order.
When it comes to Japan, we have witnessed a series of contradictory moves.
This is especially true regarding its three non-nuclear principles, which is, not possessing, not producing and not introducing nuclear weapons.
Some recent remarks from the Japanese side are completely inconsistent with this policy and could potentially exacerbate regional security tensions.
The Japanese government is attempting to revive the long-standing, lingering forces of militarism.
This will be extremely detrimental to global stability and also exposes the Japanese government's extreme irresponsibility amid the current situation.
Taking a path of confrontation will lead to dangerous regional imbalances which could trigger violent conflicts.
No one wants to see such a scenario unfold.
In November, Japanese Prime Minister Sanae Takeuchi triggered tensions between China and Japan when she said in parliament that a military conflict over Taiwan could be a survival-threatening situation for Japan, warranting the exercise of collective self-defense rights.
Coming up, the U.S. has issued new sanctions targeting Iran's drone trade with Venezuela.
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Find Decoding the Art of War wherever you listen.
The United States has announced sanctions on 10 individuals and entities targeting Iran's drones trade with Venezuela.
Washington's accused Tehran of supplying conventional weapons to Caracas and threatening US interests across the Western Hemisphere.
It's also sanctioned family members and associates of Venezuelan President Nicolas Maduro.
Meanwhile, President Donald Trump says the US has struck a dock in Venezuela which was allegedly being used for drug trafficking.
The US has ramped up pressure on Venezuela in recent months, building up its military presence in the southern Caribbean.
Tony Waterman reports from Washington, D.C.
CNN is reporting that this strike was carried out by the CIA, the Central Intelligence Agency, which normally operates quite covertly.
So it's interesting that President Trump has been so incredibly public with his remarks.
He says that the US struck this dock area inside of Venezuela earlier this month.
He claims that this dock was being used to load drugs onto boats and he said on monday that the area was completely destroyed in the strikes, although there's no evidence there is no video that has been made public to back this up there was a major explosion in the dock area, where they load the boats up with drugs.
They load the boats up with drugs, so we hit all the boats and now we hit the area.
It's the implementation area, that's where they implement and that is no longer around.
CNN is reporting that this was a dock that was used by the Venezuelan gang Trende Aragua to store and then to ship drugs on, presumably to the United States.
No one, according to cnn, was at this port area when this attack took place, so no fatalities, but this is a major escalation in this months-long pressure campaign against the government of nicolas maduro.
This is the first known attack on venezuelan soil, but trump has been sort of threatening that this was going to happen for weeks now and it could actually be interpreted as an act of war.
And this comes amid this months-long campaign of blowing up these alleged drug votes in the Caribbean.
The U.S. carried out another strike on Monday in the Pacific Ocean, killing two people.
This is the 30th known strike to have taken place since September.
At least 107 people have been killed.
Trump is saying that this is about fighting drug trafficking, although with these recent seizures of Venezuelan oil tankers,
Caracas believes that this is about taking control of its lucrative oil reserves and also, of course, toppling the government.
That was Tony Waterman reporting.
As the new year approaches, Venezuela is facing a deepening aviation crisis.
Triggered by renewed US pressure, the suspension of international flights is now stretched beyond a month, paralyzing overseas travel and dealing a heavy blow to the country's tourism and hotel industries.
Lei Shengping visited Simon Bolivar International Airport in Caracas to see the impact of these mounting external pressures.
Since November 22, the runways have been unusually quiet.
Major international airlines have suspended operations and, more than a month later, there is still no clear timeline for the resumption of key roads.
With the New Year fast approaching, many Venezuelans living overseas face exhausting detours.
For example, passengers traveling from Spain have to transit through multiple countries, turning what was once a 10-hour direct flight into a journey lasting up to three days.
For Caracas resident Julio, the impact is deeply personal.
His mother, now in her 90s, had not been home for two years and hoped to reunite with her family for the holidays.
Instead, the lack of available flights left her stranded in Colombia.
My mother was coming from Italy.
Because of problems with the airlines, she had to stay in Bogota for a week waiting for a flight to Caracas.
It didn't used to be this difficult to travel from Colombia, but with these mass suspensions everything has become much more complicated.
Julio's experience is echoed by thousands of families this holiday season.
And it's not only inbound travel that has been affected.
Outbound tourism has also taken a heavy hit, with international travel becoming a luxury few can afford financially and physically.
Rodney Rodriguez, a local travel agency manager, says the lack of airline competition has pushed ticket prices sharply higher.
About 35 of his clients have been forced to cancel their trips, with long-haul destinations such as Europe been the first to be cut.
Without direct flights, costs rise significantly.
Passengers have to buy extra tickets for transfers, or they simply give up and stay in the country.
The airlines and the government are trying to address this, but the scale of the disruption is enormous.
The ripple effects are being felt way beyond the airport.
In downtown Caracas, hotel occupancy rates have dropped noticeably.
At one international chain hotel, the contrast with previous holiday seasons is stark.
Normally full booked at this time of year, the lobby is now quiet.
To reduce costs, the hotel has replaced its breakfast buffet with a simple a la carte menu.
Guest Sergio Quintero says the downturn is hard to miss.
Recently, guest numbers have been very unstable.
There are far fewer international tourists, and even domestic travel appears to have slowed.
Venezuela's tourism authorities are now in damage control mode.
Vicky Herrera, head of the Venezuela Association of Travel Agencies, says the industry is under strain, but efforts are underway to find alternatives by strengthening connections with nearby countries.
We've seen a large number of cancellations, but authorities are responding by opening and reinforcing routes to destinations like Colombia, Panama and Mexico.
These routes are vital and we are constantly looking for options to help affected passengers.
As the countdown to the new year continues, uncertainty still hangs over Venezuela's aviation sector.
The crisis underscores how geopolitical pressure at the international level can filter down into everyday life, affecting families, livelihoods and the simple act of coming home.
That was Lei Shengping reporting from Caracas with contributions from Liao Kai-di and Yang Yimeng.
Thailand says it's looking forward to rebuilding trust and peace with Cambodia following trilateral talks hosted by China.
Chowrat Yongjiranon has more.
After successfully agreeing to a ceasefire at the General Border Committee, or GBC, meeting in Chandrapuri, Cambodia and Thailand proceeded to hold a bilateral meeting in China's southwestern Yunnan province with Chinese Foreign Minister Wang Yi.
The talks come at a crucial time, as both countries observe the first 72 hours of the uneasy ceasefire.
Thailand continues to emphasize the bilateral nature of the talks and appreciates China recognizing its neutral stance as host.
They cannot force the pace.
We have to go at a pace that is comfortable to both countries.
And in the end, it's about two countries sorting things out bilaterally.
The meeting is significant, as Thailand says the priority is to rebuild trust and peace.
However, it is a long road ahead for much-needed stability along the borders.
China has offered its support, from coordinating with both sides to monitor the ceasefire to supporting humanitarian demining.
We think at the current moment we can manage to deal with the situation bilaterally.
Should the need arise, Thailand and Cambodia should consult each other first and then ask.
And then China said that it is ready to provide assistance if needed.
China has already sent humanitarian aid to Cambodia.
Thailand has yet to respond to the same offer of assistance.
However, the issue of humanitarian demining is very important to Thailand and there is hope that positive results will come out of future talks.
Right now, a step-by-step approach will be taken after the end of the first 72-hour monitored ceasefire.
Following reports that Cambodian drones were discovered on the Thai side, Thailand says it will take its time to consider when it will release 18 Cambodians in custody.
Following the release, Thailand hopes that ties caught up in the conflict in Cambodia will be able to return back home.
For now, civilians in the conflict zones are breathing a sigh of relief as they finally return home for the new year.
That was Chow Yung-Chi Ren on reporting.
We're at 29 past now.
Beijing down to minus 9 Wednesday evening.
New Year's Day Thursday is sunny and plus 1.
Sri Yen will see snowstorms overnight.
It's down to minus one, followed by cloudy conditions and plus four.
Nanchang will see a light rainfall and five degrees overnight.
Then it's overcast and seven.
Elsewhere in Asia, Islamabad is getting moderate rainfall and a low of eight this evening.
Thursday has a light rain. and 16 degrees.
Time for a short break.
So far this hour, the Chinese president's delivered a New Year's speech via China Media Group and the internet.
China says the military exercises around Taiwan served as a warning to separatist forces on the island and against foreign interference in the Taiwan question.
The U.S. has issued new sanctions targeting Iran's drone trade with Venezuela.
Shane Bigham with you.
Stay with us here on the Beijing Hour.
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.
Right there, in the midst 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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We'll see you there.
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 Bigum with you on this Wednesday.
Still to come.
In business, China's manufacturing sector showing signs of recovery.
In sports, a roundup of the latest action in the English Premier League.
In culture and entertainment, previewing some highlights of China Media Group's New Year's Eve gala.
To contact us, you can email radio at cgtn.com or follow our ex-account at cgtnradio.
But now at the check of the day's headlines, here's Tianyu.
Thank you, Shane.
Chinese President Xi Jinping has called on the CPC and people of all ethnic groups to unite together and strive to advance Chinese modernization.
He addressed a gathering held by China's top political advisory body to usher in the new year.
President Xi called 2025 an extraordinary year, saying China successfully achieved its major economic and social development goals, despite difficulties.
He said the country's 14th five-year plan concluded successfully, with economic strength, scientific and technological capabilities and national defense capacity reaching new levels.
2026 marks the beginning of the 15th five-year plan.
President Xi said China will implement its new development philosophy, promote high-quality development and adhere to the principle of pursuing progress while maintaining stability.
He also urged the CPPCC to offer suggestions and carry out democratic supervision for the formulation and implementation of the 15th Five-Year Plan and build a broad consensus for advancing Chinese modernization.
The leaders of China and Russia have exchanged New Year greetings.
Chinese President Xi Jinping said he is ready to maintain close exchanges with Russian President Vladimir Putin for new progress in bilateral ties in the new era.
President Putin expressed the willingness to work closely with his Chinese counterpart on bilateral and international issues of common concern.
The two leaders reviewed the past year and highlighted their meetings in Beijing and Moscow.
The two countries marked the 80th anniversary of the victory of the Chinese People's War of Resistance Against Japanese Aggression and the World Anti-Fascist War, and the victory in the Soviet Union's Great Patriotic War.
The China Coast Guard has conducted law enforcement patrols in the waters around Huangyan Dao Island in the South China Sea.
The Coast Guard has been carrying out the latest round of patrols since the start of the month.
A spokesperson said the Coast Guard has been regulating vessels engaged in illegal infringement and provocation, further strengthening control over the sea areas.
A Chinese mainland spokesperson says the PLA's military drills around Taiwan this week served as a stern warning against separatist forces and external interference.
State Council, Taiwan Affairs Office spokesperson Zhang Han says the drills were a necessary and just act to safeguard national sovereignty and territorial integrity.
The relevant military operations of the Chinese People's Liberation Army serve as a stern warning to Taiwan independence, separatist forces and external forces interfering in China's internal affairs, and constitute a necessary and just act to safeguard national sovereignty and territorial integrity.
The Lai Ching-teh administration has engaged in Taiwan independence separatist activities, pursued unprincipled foreign obsequiousness and bodiless betrayal of Taiwan's interests, and spared no effort to sacrifice Taiwan's economic development and people's livelihood and welfare.
It is raising down the evil path of colluding with external forces to seek independence, provoke trouble and engage in reckless militarization.
Zhang said the DPP authorities' actions have undermined cross-strait relations, threatened peace and stability in the Taiwan Strait and inflicted serious harm on the fundamental interests of the Chinese nation and the vital interests of Taiwan compatriots.
She said China would never tolerate or indulge separatist behaviors and would strike back hard against them.
The PLA conducted a series of drills around Taiwan on Monday and Tuesday.
And finally, Somali leader Hassan Sheikh Mohammed has expressed gratitude to the institutions that opposed Israel's recognition of Somaliland, a breakaway region of Somalia.
We also extend our thanks to our partner countries, as well as regional and international institutions, for taking a firm stand against the violation committed by the State of Israel on 26 December this year.
In our discussion today, we strongly rejected Prime Minister Netanyahu's illegal aggression.
The statement follows Muhammad's meeting with Turkish President Recep Tayyip Erdogan in Istanbul on Tuesday.
In business now, stock prices on the Chinese mainland closed mixed on Wednesday.
The Shanghai composite rose by a tenth of a percent, while the Shenzhen component fell by six-tenths.
In Hong Kong, the Hang Seng index dropped nine-tenths of a percent.
Tokyo stocks also ended lower, with the Nikkei down nearly four-tenths of a percent.
China's manufacturing activity showed signs of recovery in December.
Official data shows the purchasing managers index stood at 50.1.
This marks the first time since April that the index has moved back into expansion territory.
16 of the 21 industries recorded higher PMI readings than in the previous month, pointing to better production and business conditions.
Data also shows a clear rebound in supply and demand.
Production index rose to 51.7, while the new orders index climbed to 50.8.
New orders moved back into expansion for the first time in the second half of the year, suggesting stronger market demand.
Large manufacturers led the recovery.
Their PMI rose to 50.8, up 1.5 points.
Business confidence also strengthened.
The expectations index climbed to 555 in December, showing growing optimism about future market conditions.
Beijing's property market is seeing a sharp rise in sales after the government introduced new housing policies.
Last week at a sales office in a one-city district,
Crowds have become so large the staff have had to call in extra agents to handle the number of potential buyers, says manager Xu Chao, as demand has increased noticeably.
Before, ground level parking spaces were usually available.
Since December the 25th, they've been full.
We even had to open underground parking.
Daily sales rose from three or four homes to about 10.
The surge follows eased purchase rules for homebuyers.
Under the new policy, non-local buyers purchasing homes inside Beijing's Fifth Ring Road now need two years of social insurance or tax records, and that's down from three.
Outside the Fifth Ring Road, the requirement's been reduced from two years to one.
Wu Jing's, a professor at Tsinghua University's Research Center for Real Estate Finance, and he says the changes are unlocking demand.
This Beijing policy adjustment.
The adjustment lowers purchase barriers for first-time buyers and supports people upgrading their homes.
Together with earlier measures, it has created a strong boost on the demand side.
Official data shows the impact has been swift.
Figures from Beijing's housing authority indicate that new home purchases averaged 133 units per day from Thursday to Sunday, nearly 50 higher than before the policy change.
And for more insights and highlights on this year's economic data.
Michael Wong spoke with chief economist Ming Ming from CITIC Securities, a leading Chinese investment bank.
Based on the economic data that we've seen so far for China, how would you assess the performance of the Chinese economy in 2025?
I think this year's economy is stable recovery.
We know from the Q4, we carry out a package of stimulus policy including monetary policy, fiscal policy and the.
After all these policies, we can see that the economy is starting to recover from the beginning of this year, including inflation, consumption and investment.
So we achieved 5.2% GDP in the first half of this year.
I think it's very clear that economy-driven forces are stronger than before.
And also if we look at the export side, because in the beginning of this year most of the people worry about uncertainty from the export side because of the global recession and the tariff uncertainty.
But on the country until November, we can see that export growth is still around 5.
I think there may be two reasons.
One reason is because of the industry upgrade because, for example, we can see that a lot of the Manufacturing sector, products related to the EV cars, semiconductor manufacturing products their goods rates are quite stable, resilient.
And also, I think, because our export destinations are more wired.
All the evidence supports that our economy is stable recovery from the beginning of this year.
Where does the direction momentum look like for the Chinese economy in 2026?
I think the economy will keep continuing recovery and, especially as far as I'm concerned, I think next year a very important phenomenon should be the nominal GDP will close to the real GDP because in the last couple of years inflation data is still low.
But after a stimulus policy in Q4, you can see that inflation data, pricing index gradually recover.
So I think For next year the real GDP will still around 5, but the nominal GDP will close to a real GDP.
That was Chief Economist Ming Ming from CITIC Securities.
China's released detailed guidelines for its 2026 auto trade-in subsidy program, continuing efforts to support the automotive market.
Consumers who scrap old vehicles and buy new ones can receive subsidies based on the price of the new car, with a maximum of 20000 yuan, that's roughly 2900 US dollars.
China introduced the subsidies in 2024 as part of a broader trade-in program covering cars, smartphones and household appliances.
The program has strengthened market confidence and boosted domestic demand.
Analysts expect the renewed auto trade and subsidies to encourage more consumer spending and promote greener transportation.
Hong Kong's stock markets enjoyed a strong finish to the year, with six companies making successful trading debuts on Tuesday.
The new listings raised a combined US900 million, capping off a bumper year for Hong Kong's initial public offering market.
Siobhan McCall has details.
It was the highest number of new listings earlier in a single day in Hong Kong since 2019.
Now the companies span tech AI biotech, robotics manufacturing and skincare, and all six finished the day above their IPO prices.
The most successful was Beijing-based 51 World.
It was up 30 percent from its listing price.
It specializes in digital twin technology, which is creating virtual replicas of a physical object or system, and it's aiming to make a digital clone of the earth in silico medicine, an ai drug discovery company backed by tencent, Also impressed, closing up around 25 up.
It was the largest biotech IPO of the year in Hong Kong.
Meanwhile, three Chinese firms have launched Hong Kong share sales.
Graphic chip maker Luvatar Core, ex-surgical robotics baker Shenzhen Edge and Zippo AR all set to debut on January the 8th.
Xipu is aiming to raise 560 million and it will be the first large language model developer listed in Hong Kong.
Hong Kong has become the world's top IPO market in 2025, with 300 companies filing to list next year.
That momentum is set to carry on into 2026.
2025 has been such an impressive year.
There's been 114 IPOs.
It's up 63% compared with 2024.
And in fact, in H1 this year, it raised more money than the entire of 2024.
So what has been the main factors?
The first thing is the mega IPO, Cattles IPO, the Chinese battery maker.
It did a dual listing, the secondary listing in Hong Kong in May.
At the time, it was the world's largest IPO of 2025, and it raised close to five billion dollars.
And that really put the spotlight on Hong Kong.
Another thing and that links into the cattle listing is these H&A listings.
So the main one, the H, that is in the Chinese mainland and the secondary one is in Hong Kong.
There's been a record 19 of them this year.
So it allows companies to access the Chinese domestic market and also access the global market.
So that's played a really important role.
There's been an increased number of AI listings.
That was Siobhan McCall reporting.
Retail sales in the United States increased over the holiday season.
Shoppers are also expected to return a significant amount of merchandise.
With the National Retail Federation estimating returns could reach $850 billion.
Karina Mitchell has more.
US retail sales rose nearly 4 year over year during the holiday shopping season, excluding automotive sales.
Sales were driven by strong e-commerce growth, steady in-store spending, and increased dining out.
That's according to preliminary data from MasterCard.
It tracks in-store and online retail sales across all forms of payment and is not adjusted for inflation.
Sales increased as consumers began shopping early, blending online and in-person purchases throughout the season.
According to the MasterCard Economics Institute, consumers demonstrated flexibility and confidence, leveraging promotions and investing in meaningful experiences and wish list items.
And now that all those Christmas presents have been unwrapped, many Americans are looking to return some of those gifts.
And in some cases, those returns might just cost you.
The National Retail Federation expects US shoppers to return 850 billion worth of merchandise this shopping season.
About 72% of retailers will be charging for online returns.
That's up from 66% in 2024.
Major retailers, including TJ Maxx, Marshalls and Macy's, are all charging mail-in return fees in the double digits, while JCPenney is charging 8, with JCrew charging 750.
That was Karina Mitchell reporting.
You're listening to the Beijing Hour.
Just ahead in sports, a roundup of the latest action in the English Premier League.
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47 past the hour.
With sports now, here's Yang Guang.
Thank you, Shane.
First up is football from the English Premier League, and leaders Arsenal ended the year in style with a 4-1 thumping of fellow title challengers Aston Villa.
Defender Gabriel gave the Gunners the lead off a corner in the 48th minute.
Captain Martin Odegaard, Leandro Trossard and Gabriel Jesus also scored.
Arsenal manager Mikel Larteta expressed excitement to end the year with a big win over a tough team.
I'm so happy.
If we play in every three days, we played an opponent today that comes from 11 wins in a row.
Superb team, very difficult to play against.
And we knew that we were going to have periods throughout the game.
And unlike the last few games where we had so many big situations, today we were very prolific and accurate to make the difference there.
The win put Arteta side five points ahead of Manchester City having played a game more.
In other Premier League matches, Chelsea dropped further behind in the title race after being held to a 2-0 draw by Bournemouth.
The rock bottom.
Wolverhampton Wanderers claim they're just the third point of the season, with a 1-0 draw away to Manchester United.
West Ham battled to a 2-0 draw at home to Brighton, twice taking the lead through Jared Bowen and Lucas Paqueta.
Penalty on the stroke of half-time.
Nottingham Forest were still in danger of relegation after a 2-0 defeat at home to Everton.
To Morocco for the Africa Cup of Nations and the 10-man Senegal overcame a gallant Benin 3-0 in Tangier.
To finish, top of Group D, Senegal captain Khalidou Koulibaly was sent off for a clumsy tackle in the 71st minute.
They now advanced to the knockout stage along with the Democratic Republic of the Congo.
Burkina Faso is getting ready for their final group E match against Sudan.
Both teams have already advanced and are even on three points, with Burkina Faso ahead on goal difference.
This game will determine who finishes second behind already qualified Algeria.
Under coach Brahma Taurori, Burkina Faso will rely on a strong midfield as they look to bounce back from their recent loss to Algeria.
The coach expressed Burkina Faso's strong desire to advance.
We want to approach this match with a clear head, regardless of any external pressures.
Our goal is to win and secure second place.
We're not going to hide our intentions.
We want to win, not lose.
And as a matter of principle, we don't want any inactivity in the game.
We believe we have what it takes to play a great match and, at the very least, to face the team that will lead our group and allow us to continue our journey.
The game will be the first encounter for the two teams at the Africa Cup of Nations since 2012, where Sudan won 2-1.
Egypt has managed to win Olympic medals in wrestling and weightlifting.
Behind that success lies the nation's well-entrenched culture of early talent development in those disciplines.
A sports club in Cairo is one such centre, where emerging sports stars are nurtured.
Daniel Arabmoy reports.
In a cramped hole barely larger than a living room in the working class nile delta city of mansoura, girls grapple, tumble and clamber to their feet again on one mats, their laughter and shouts echoing off the peeling walls.
Yet the al shal and manshia club has produced national champions in wrestling and judo, and one of its teenage stars is said to represent egypt at the youth olympics.
Its achievements come despite chronic underfunding, outdated equipment and a lack of regular government support.
Limited resources, immense achievements.
It's a very, very, very small club, beyond what you can imagine.
The hall is only 3.5 metres square.
It is practically impossible to create a champion in here, yet we produce champions from the determination and perseverance of the players and the coaches that I have with me.
Still Alshal's Rodaina.
Ahmed Gamal 15, a national gold medalist who has qualified for the 2026 Dakar Youth Olympics, says she prefers training there than at other larger clubs she can access.
Coach Mahmood tells us, come train at the stadium.
The stadium is spacious and has better mats, a psychological coach and lots of other things for everyone.
And there's money spent and all that.
But I don't feel the same spirit we have here at Alshal and Manshia Club.
There are about 20 of us in a small hall here and you feel like we are all looking out for each other and each one of us needs to take a corner.
Over there you feel like everything is vast.
It's not your vibe, not your hall, even though I train there a lot and I'm allowed to train there at any time.
But I don't feel the training anywhere except here.
Egypt sent 148 athletes to the Paris 2024 Olympics and won three medals in pentathlon, fencing and weightlifting.
But in Mansoorah, far from the Olympic ceremonies, the future of women's sport still depends on clubs like Alshal.
That was Daniel Arabboi reporting.
And finally, turning to the Chinese Basketball Association and a rematch of last season's finals.
The defending champion, Guangxia Lions, handed Beijing Ducks their first loss of the new season with 91-85 win on the road.
In another match, the 11-time champion Guangdong Southern Tigers visited Tianjin Pioneers and beat home team 98-74.
Guangdong rose to first place after their eighth straight victory to start the season.
All right, thank you very much.
That's Yang Guang with sports.
Just ahead in culture and entertainment, previewing some highlights of China Media Group's New Year's Eve gala.
East to west, people in China are chasing their dreams and leaving their mark.
Want to know how they beat the odds and made a difference?
Footprints brings you the true life stories of their journeys.
At 53 past the hour.
In culture and entertainment.
Organizers say China Media Group's New Year's Eve Gala features a vibrant celebration of culture, innovation and national spirit.
They finished the recording of Sail Into 2026 in Luliang, Shanxi Province.
Viewers can enjoy the program across various CMG platforms, including TV, radio and new media outlets.
Featuring more than 60 creative performances, the gala presents a rich mix of artistic forms.
They include songs dances, traditional Chinese instrumental music opera, martial arts and innovative robot-assisted magic shows.
The diverse lineup reflects cultural heritage and contemporary creativity.
Through vivid performances, the show captures the dynamism of the Yangtze River Delta, the vitality of the Beijing-Tianjin-Hebei region and the harmony of the Greater Bay Area.
The gala also pays tribute to scientific expedition members in the polar regions, astronauts aboard China's space station, border defense soldiers guarding China's coastal frontiers and athletes competing at the national games.
Authorities in Shanghai have announced hundreds of New Year celebrations and promotional activities over the next two months.
They cover major festive occasions, such as New Year's Day, Spring Festival, and Lantern Festival.
The New Year period features around 300 events, including performances, concerts, and exhibitions.
For the Spring Festival holiday in the middle of February, there will be nearly 400 special events.
A global cultural initiative linking Shanghai and London is entering its next chapter.
Season two of Our Water explores how cities connect through art, technology and shared waterfront cultures.
A key exhibition is on display in Shanghai.
Zhang Yue has more.
From London to Shanghai, how does the river of art continue to flow?
At the Design Innovation Institute Shanghai, an exhibition titled Coats of Tides offers one possible answer.
Through data in motion, light and shadow.
The exhibition is a dialogue between digital technology and artistic imagination.
At the center of the exhibition hall stands the large-scale light installation Shuo.
Its gently unfolding, river-like spatial flow echoes the core concept of the exhibition.
Along this electronic river, works by artists from the United Kingdom and China converge into a shared narrative.
The Design Innovation Institute Shanghai, formerly the Leicester Institute, founded by British industrialist Henry Leicester, carries within its architecture a shared historical thread linking London and Shanghai.
Coats of Tides is not only about the surging forces of technology, but also toward a larger question.
In an era of constant acceleration, how can art help us rethink humanity's relationship with the world?
As a key annual event of Season 2 of Our Water.
The exhibition is one of a series of initiatives dedicated to cultural and artistic exchange.
That was Zhang Yue reporting.
A key cultural site along Beijing's central axis, has reconnected its inner and outer areas by relocating a school inside of its walls.
Experts describe the move as an important step in restoring the historical layout of Shannongtan Temple.
Located in the southwest of downtown Beijing, the temple is China's largest remaining ancient royal architectural complex dedicated to the worship of the god of agriculture.
It depicts the traditional agriculture and ritual traditions of the Ming and Qing dynasties.
According to the Beijing Municipal Cultural Heritage Bureau, the city will continue to restore the temple's historical layout, Expand its open areas and make more public spaces accessible.
UNESCO inscribed the Beijing Central Axis on its World Heritage List back in July of 2024.
The construction of the Beijing Central Axis followed ancient architectural philosophies to create the ideal layout for a capital city.
57 past the hour.
Beijing down to minus 9 Wednesday evening.
New Year's Day Thursday is sunny and plus 1.
Shiyan will have a snowstorm and minus 1 overnight, then cloudy conditions and 4 degrees.
Nanchang will see a light rain and 5 overnight, then overcast and 7.
Elsewhere in Asia, Islamabad is getting moderate rainfall in 8 degrees this evening.
Thursday has a light rain in 16.
Vientiane will be overcast in 17 and then cloudy in 29 degrees.
That's it for this edition of the Beijing Hour.
Making news.
Today, the Chinese president delivered a New Year's speech via China Media Group and the Internet.
China says the military exercises around Taiwan served as a warning to separatist forces on the island and against foreign interference in the Taiwan question.
On behalf of the staff.
This is 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.
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