China International Import Expo sets a new record in scale.
How can global firms tap China's vast market?
High-speed deliveries, high demand.
China's Double Eleven shopping festival is off to a strong start.
And U.S. military pressure on Venezuela intensifies.
We'll follow out what the region faces from this escalation.
Welcome to Road Today, a news program with a different perspective.
I'm Ge'Anna in Beijing.
To listen to this episode again or to catch up on previous episodes, you can download our podcast by searching Road Today.
Our top story.
Chinese Premier Li Qiang has hailed the China International Import Expo as a bridge that connects the world and entrance to the Chinese economy.
Speaking at the opening ceremony of the 8th CIE in Shanghai, the premier said the record number of exhibitors this year reflects the vitality of China's supersized market.
He also emphasized China's steady commitment to development and opening up.
Guo Tianqi has more.
Chinese Premier Li Qiang delivered a keynote speech at the opening ceremony.
He emphasized the importance of cooperation and win-win development.
He also criticized the unilateralism and protectionism in today's world.
As the Chinese saying goes, those who benefit all will be supported by all.
The CIIE is increasingly welcomed and supported by countries around the world because it has brought true benefits to the world.
In contrast, some unilateral and protectionist measures have had a severe impact on the international trade order, disrupted the world economy and brought great challenges to the development of many countries.
Premier Li shared three key thoughts on how global trade players should act in the current complex world trade environment.
The first is to uphold equality and mutual benefit and strengthen common interest.
And second is to gain morality and protect fairness and justice.
And third is to continue to improve the international trade rule systems.
Moreover, Premier Li also highlighted the certainty of the Chinese market and Chinese economy.
He said that in five years, China's economy is expected to surpass 170 trillion yuan, which will make significant contributions to global economic growth.
Let me summarize this certainty into two aspects.
First, it provides the certainty of development.
China will continue to prioritize economic development and focus its efforts on pursuing high-quality development, with special emphasis on expanding domestic demand, especially boosting consumption, to fully unleash the potential of its mega market of 14 billion people.
At the same time, China will accelerate and strengthen new growth drivers in digitalization, green development and intelligence.
The second certainty is the certainty of openness.
China will firmly advance high standard opening up, steadily expand institutional opening up and introduce more measures of voluntary and unilateral opening up.
He also stated that this year, CIE has reached a new scale record over 4100 exhibitors from 155 countries, regions and international organizations have attended this year's event.
And I've also learned earlier that over 460 new products, technologies and services will make their debut at this year's event, covering some frontier industries such as humanoid robotics and low altitude economy, as well as some new sections, for example, the silver economy, ice and snow economy and sports economy.
All of this really adds up to showing China's determination to further promote its high standard, opening up and share development with the rest of the world.
That was Guo Tianqi in Shanghai.
To delve into this, let's have Yan Liang, professor of economics at Willamette University.
Thanks for joining us, professor.
Thank you for having me.
Professor, you were right there when Premier Li Qian gave his speech at the CIA.
What stood out to you the most and what would you say are this year's biggest headlines at the event.
Well, I think for the speech itself.
I think I'm really struck by the commitment, the consistency and the confidence of China's leadership to have the high level opening for China.
So I think, as Premier Li talked about, China is going to become a 170 trillion yuan size economy in 2030.
And that provides a lot of opportunities for businesses.
And he also mentioned this two sort of stability, right?
The commitments and the certainties.
One is development certainty, one is opening up certainty.
And I think this is a really important message that shows the world.
You know, despite all the geopolitical sort of headwinds and despite the rising uncertainty, mostly coming from the United States, when it comes to trade war,
China's certainty has really helped to anchor the global investors' expectations, the global markets' expectations.
And I think that would really become a very important driving force for economies to continue to open up, to cooperate, to invest, to trade.
And I think that is really essential for the global economy going forward.
And for the CIE this year, I think, as your reporter talked about, you know what a year has been for companies to really trying to understand certain predictability, right and certainty amongst all the changes.
So the fact that so many exporters right over 4100, coming from 135 countries, and really debuted a lot of their new and emerging products, I think that is a testament to the potential.
You know businesses community, how much they wanted to breed, to continue to build the bridges and continue to open up and continue to cooperate.
So I think that is really remarkable how they have, you know, found a way to really try to find, you know, new opportunities to cooperate and collaborate.
Speaking of providing opportunities and certainties to the world, Premier Li called the CIE a gateway for the world economy to enter China.
With a record number of exhibitors this year.
When you talked with them, what did they say about what draws them to the CIE and to China?
Yeah, that's a great question.
So I actually talked to a few individuals, for example, Ambassador from Monaco and also the chief investment officer from Rwanda's investment fund.
So I think they all said China is a market that is rising, that is open, that is sizable.
They really wanted to participate in the very dynamic Chinese economy.
Right, they don't mean just the market itself, the consumer demand, but also just the entire innovation ecosystem, the whole development momentum.
They wanted to be part of this sort of partnership.
The other thing I think they really also emphasize is again the certainty that the Chinese government is able to instill to the business community.
They know when they come to China, they will be welcomed.
They know there is a rule-based system.
There is transparency.
There is the government's support and facilitation.
So I think, you know, this really helped drive them towards the Chinese economy, the Chinese market.
Professor, we've noticed more companies at the CIE moving from just selling products to setting up research and development centers and production lines in China.
What's driving this shift from selling to co-creating values?
Any example that really struck with you?
Well, I think again, like I mentioned earlier, China doesn't just represent a sizable market, but it really also represents the future of energy production innovations, new tech, frontier economies.
And so I think all of this drive companies and investors to come to China, not just try to sell to China, but really, like you said, to co-create value.
Now, what that means is, for example, they localize their R&Ds.
Some of the automakers I think are the salient examples, like the German car makers Volkswagen, BMW.
They're all opening RD centers in China.
You know, not only just trying to sell the cars to China, but they also wanted to learn.
You know the technologies and co-develop the technologies in China.
And then you also see many of the retailers that come to China integrate themselves into the local digital ecosystem.
I have in my L'Oreal Starbucks.
You know they're using a lot of the Chinese digital e-commerce platform, like Alibaba and Tencent, to utilize local data, utilize the platform to sell their products, but also to really get the pulse of the markets, knowing what Chinese consumers want.
That is super important for them to continue to provide good products services in the Chinese market.
You're also seeing co-development in terms of supply chain build up and manufacturing.
Companies come to China to utilize the Chinese manufacturing the powerhouse to build their products here.
And you see the example of various JVs.
They're coming to China and made for China.
So all of these are, I think, great examples to show that it's a win-win cooperation, in the sense that they're coming to China not just to sell the products but really co-develop in China.
So they're able to catch a larger market share and a higher value chain.
And, in the meantime, China enjoys job creation and also more quality products and service delivery within the the country, within the economy.
So I really see this as great opportunity for both sides.
Professor, let's talk about China's business environment.
Premier Li said the CIE succeeds because it's built on the idea of sharing benefits with the world.
In real terms.
How can China ensure, through institutional design, policy support and platform building, that global partners, especially smaller businesses and developing countries, that they can share the tangible benefits of the Chinese market?
Yeah, this is an excellent question.
I think you actually really comprehensively talk about the three different pillars that China is trying to connect with the rest of the world.
Especially have the inclusive, I would say opportunities for the rest of the world.
So when it comes to institutional design, this is really to create the framework for market assets.
So you see the CIE itself.
It is an institutional mechanism that would invite foreign companies to come and showcase their products and assess the Chinese market.
You also see, China has been upgrading, you know FTAs, the free trade agreements with ASEAN countries right now it's 30 that really trying to, you know, harmonize standards and facilitate trade.
So all of these are really important institutional channels to connect to the rest of the world.
Then, when it comes to policy support, as you mentioned, it really provides incentives for the rest of the world to engage right.
The selling example is, again, China has committed to zero tariff policy with 53 African countries.
So if this is not an invitation, right for them to come to participate in the Chinese market, then I don't know right what would.
So I think this is a very important policy support.
And there are also technical assistance standards, assistance that would help small and medium-sized enterprises SMEs to meet the import standards that China required.
So I think that is also very important for them to be able to find the way to assess the Chinese market.
And last but not the least, you talked about platform building.
And so this is really the digital, but also physical connectivity.
As we know, through BRI, China has made a lot of physical connectivity to the rest of the world, building roads, ports and so on.
That would allow the transportation of goods and services from other countries.
And same with the digital infrastructure, right?
China has been building 5G networks in developing countries and helped them to bridge the digital gap and to facilitate e-commerce.
So I think all of these are really important for SMEs that really rely on these digitally delivered goods and services.
And I think so all three.
You know pillars, as you just mentioned, are really the tangible ways that China promotes the integration, especially in an inclusive way.
Professor, we've been talking about the 15th five-year plan recently.
China's new next five-year plan talks about expanding institutional opening up.
What new chances or certainty does that offer for foreign companies here in China?
Right.
So I think that's a great question.
I think there are three different aspects in this.
You know, 15 five year plan.
I think really showcase the commitment and certainty.
So for one is China will continue to innovate and upgrade traditional industries.
So that means again, China welcome foreign investors and businesses to to join force right to develop technologies and to really enjoy the mutual benefits of the fruits right of these technological developments and upgrading of traditional industries.
So that means china will continue to be dynamic, to be innovative and have the opportunity for, you know, technological partnership.
That's number one.
And number two is, i think you know this idea of boosting domestic demand.
I think that's another certainty to say that china's market is open and it is going to continue to grow right.
Right now, China has more than 400 million middle class consumers, and that number would double by the turn by the middle of the century.
So that is a very important market.
Last year, China imported $2.59 trillion worth of products.
So I think that just showcased that China is going to be a very important market, right?
This dual circulation.
So again, China will welcome by foreign investors.
And finally, I think, the idea that China would have the high level opening, in the sense that China is not only follow the international rules now, But China would also participate in rule harmonization, standard harmonization and also rulemaking.
So I think that, again, showcase China will continue to promote a lateral system.
It will continue to work with, you know, like-minded countries so that they will help to facilitate, you know, this rulemaking that treats everyone, every country, as equal partners.
And I think that is again a very important signal of certainty and China's commitment to further opening up.
Professor, one last question.
We know global supply chains are under pressure and challenges, and China is promoting initiatives such as the Big Market for All.
How can such efforts help steady global supply chains and reduce the risks of disruptions?
Right.
So I think it's clear that China commits itself to the global supply chain, the global value production system.
So I think that goes back to what I mentioned earlier, right?
For one, China is going to continue to innovate.
It is continue... to partner with other countries to develop technologies.
So be it, EV being green products.
We know that China is gonna continue to innovate and continue to bring out better and more quality products.
And we'll share with the rest of the world, China's own technological sort of innovations.
So I think that is important for the global supply chain, right?
That, when it comes to rare earth or when it comes to green technologies, China is not going to monopolize it or exclusive from other countries, and China is going to share this with the rest of the world.
So I think that is an important contribution that China is committed to making sure the supply chain is resilient and sustainable.
And second is going back to the earlier point about institutional building, right?
That China is going to continue to sign free trade agreements.
Upgrade these free trade agreements.
Promote regional integrations.
As we know, Asian economies are most dynamic and most technological minded.
With the regional integration and the regional supply chain formation and reach out to many other countries right African countries, Latin American countries, European countries and, of course, United States, if they're willing to participate.
I think you know this is another way for China to make sure that the resilient sustainable, high quality supply chain is really at the center of globalization.
And I believe that you know China is.
You know, talk the talk and walk the walks and really commit to continue to fortify and to upgrade the global supply chain and really help, you know, trade and investment system to continue to develop.
Thanks, Professor, for your insightful analysis.
That was Yan Liang, Professor of Economics at Willamette University.
A new report issued on the sidelines of China International Import Expo is underscoring the need to safeguard global openness amid rising uncertainty.
The Road Openness Report 2025 was released by the Hongqiao Forum.
For more insights into the report.
My colleague Zhu Tianlu spoke with Dr Hamid Rashid, former officer in charge of the United Nations Global Economic Monitoring Branch.
Let's take a listen.
The road...
Openness Report 2025 highlights new dimensions of openness beyond trade, including technology, green growth and knowledge sharing.
How do you see these shaping the future of global development?
I think these are very important dimensions of openness, because openness can be defined very narrowly in terms of trade, but trade is only one element of openness.
As you have pointed out, we need to also think about how trade facilitates technology transfer, how we are able to improve global cooperation, especially as AI is becoming a major factor in global discussion right now.
Also, we need knowledge sharing to address our common challenges, like climate change, issues of migration.
So all of these are very interrelated.
I am very happy to see that World Openness Report is addressing those issues holistically, because there's no other report in the world that addresses those issues in a coherent fashion.
So this is a step in the right direction.
We congratulate, I personally, I congratulate the team that is working on this report.
This is an excellent report, in my view, in terms of bringing attention to the right issues that we need to address at this stage in time.
And I want to highlight one important element here that world needs to be more open, but we're seeing a reversal in openness.
And that's a very dangerous trend.
We have to really work together, not just as nations, not just as states, but as individuals as well.
People-to-people contact.
Make sure that we are all working together to preserve what we achieved over the last 80 years since the end of World War II.
Because we know when countries become isolated and closed, they become more belligerent.
They become more hostile to each other.
We have to reduce the tendency, the worst tendency that we have in terms of not working together.
So I think this report is a huge contribution to global thinking in terms of how we preserve and promote openness, not just in trade, but in a broader sense of openness, including openness in terms of people to people contact.
And, like you just mentioned, about the global uncertainty We know China's 15th Five-Year Plan highlights the goal of promoting high-level opening up and also fostering new forms of international cooperation.
So how do you see China's approach to openness contributing to more balanced and inclusive global recovery and growth?
I think, in these turbulent times, I think China's leadership is very critical, because China is giving us a steady global leadership uh, being the largest economy, second largest economy in the world.
Uh, we are seeing china is leading the discussion about openness, about rule-based international um or multilateralism.
Because this is where we need to remain committed, because the international rules that we created over the last 80 years, these are the foundations.
These are not the angles.
They're not perfect by any means, but that has provided the foundation of countries to work together on the basis of sovereign equality, on the basis of mutual interest.
And China.
In these difficult times, we see China's providing the leadership that we need, especially for the developing world.
I believe that China's leadership is very timely and in the right direction.
And we believe that this is where we need to have more commitment from other countries as well, joining hands with China under different framework and preserve the tendency to go in the opposite direction.
We know that some of the countries are not.
I'm not going to name any country here, but you know that some countries are going in the opposite direction and creating a lot of uncertainties in the global environment.
And we have to make sure that we are able to withstand the storm that we're experiencing right now.
The world economy since World War II never experienced that kind of uncertainties that we are seeing right now.
I believe this will pass.
This is a matter of a transition phase and we are counting on.
As an economist, as a global citizen, I believe China's leadership can play a very important role in global discourse on openness, on stability, on mutual respect and rule-based multilateral trading system.
We know you are the former officer in charge with the global economic monitoring branch of the United Nations.
So, from your perspective, How can platforms like the CIIE and Hongqiao Forum enhance global trust and cooperation, especially among developing economies or the global south?
I think this is very important.
We talked about China's leadership in the broadest sense, but this is one initiative that shows the Chinese leadership in the global discussion on openness.
I strongly believe that this is where we can come together, have better discussion about why openness matters, not just providing a snapshot of where we are in terms of openness.
We saw that over the last um since 1990s, world economy is gradually opening uh.
China joined the wto world trade organization in 2001.
It was a major step towards global integration, global openness, and since then it continued until about 2007-8, and then we see a reversal since 2008 about countries closing off a little bit over time.
And now we are seeing this trend has continued for the last 10 years or so, seven years.
Forum like this where we come together.
We just don't discuss about that.
We all want openness, but we also need to show, both in terms of intellectual inputs, in terms of our discussions on the issues of why openness matters, how openness really helps people around the world.
If we take Chana's example, China's openness, China gradually embraced openness.
And we're not saying that every country has to open up at the same time, at the same level.
China gradually opened up over the last 30, 40 years.
Now it's a very open economy in many respects.
And that allowed China to reduce its poverty level.
China lifted 800 million people out of poverty in the last 40 years.
This is the miracle in human history.
So we have to really explain how openness matters for the common people.
Openness is not an abstract term, but it's more tangible results for common people through trade, through international cooperation, through exchange of knowledge and ideas.
We all benefit.
So I think the forum going forward I hope to be part of the discussion as well that how openness can actually promote economic stability, economic growth, more people-to-people contact so that we trust each other more, because fundamental to openness is that we have to trust each other and the global economy.
There's very little trust right, and there's a cross deficit, so hopefully we can build on this forum.
This is the eighth, uh my first time, but i hope uh not the last time.
So we look forward to more engagement, uh in terms of um explaining better to the common people, to the policy makers, who are not not economists, but rather uh um, for a political point of view.
They can see openness in a different way, but we want to make sure that openness is fully understood.
It's not about dictating one particular kind of openness.
It's about how we collaborate and promote cooperation with each other and learn from each other.
That was Dr Hamid Rashid, former officer in charge of the United Nations Global Economic Monitoring Branch.
This is World Today.
We'll be back after a short break.
Welcome.
I'm Elav Elad, economics professor and member of the Data Science and AI Center at New York University, Shanghai.
On the World Today program, you can find in-depth and impartial insight, as well as critical commentary, on key trends in the Chinese economy, financial technology, business and blockchain.
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You've been listening to World Today with me, Ge'Anna, in Beijing.
Huntington's clash of civilizations may have passed its sell-by date, but China and the United Nations are promoting dialogue among civilizations.
China recently proposed a UN resolution designating June 10 at the International Day for Dialogue Among Civilizations.
What's behind this initiative?
What difference will it make?
And how does China see its role at the UN amid what it calls once-in-a-century changes?
No one is better positioned to answer these questions than His Excellency Fu Cong, China's permanent representative to the UN.
Earlier, my colleague Liu Xin had a conversation with him.
An International Day for Dialogue Among Civilizations.
Lots of big ideas.
And it was adopted, however, by consensus at the UNGA.
Where does the idea come from and why does China propose this International Day?
First, thank you very much for raising the question.
Indeed, that was a major Chinese diplomatic visit.
And I'm very glad and we are very proud that we have delivered.
And, as you said, that last Friday General Assembly of the United Nations adopted by consensus a resolution proposed by the Chinese delegation.
And the main theme of that resolution is to advocate the respect for the diversity of civilizations and the call for the promotion of dialogue and equal footing among civilizations and the call for the mutual learning from each other.
And I think this is a very significant resolution.
And as you said, this resolution also designates June the 10th as International Day for Dialogue.
And also I want to emphasize that this is very much in line with the Global Civilization Initiative proposed by President Xi last year.
And so The reason why we had put forward this resolution is that actually, if you look around the world, you see a lot of disputes, a lot of conflicts or even wars.
And also there is a surge of intolerance, extremism and also populism.
And actually, in our view, all these can find their roots in the differences or the lack of understanding among cultures and religions.
So we do believe that it is important to have dialogue and mutual respect among the civilizations.
And this, in our view, will make the world much more peaceful.
That's the whole rationale behind that resolution.
Is this an answer to Huntington's clash of civilizations theory and those in the West peddling an inevitable clash among civilizations?
Indeed, we do not believe in the inevitability of a clash civilization, but we do see that there are dangers that may lead to such a situation.
And actually that is the reason why we do believe that dialogue on the equal footing in order to reduce prejudice and in order to enhance mutual understanding, is so important.
Does China believe that now is the time to renew this call?
Because this is not the first time that proposals for dialogue among civilizations were tabled.
We understand there were previous initiatives by other countries, for instance former Iranian leader Qatami calling for an international year of that.
But that's in the early 2000s.
Why is China renewing this call now?
As I said, we do believe that, of course, this is a whole process.
The other great nations are also advocating this idea.
And in our view, the angle of civilization is a very potent angle that can promote mutual understanding.
And we want to add our voices, or add our efforts, to the already gathering campaign for more dialogue and for more understanding among civilizations.
Of course, China is not the first one to propose it, but we again, at this critical juncture, we do believe that it is important that the world focus or refocus its attention on this crucial issue.
Well, you talk about the role of China in the speech about this proposal.
You said that the proposal reflects China's firm support for multilateralism and the work of the United Nations, as well as China's responsible role as a major country amid once-in-a-century changes.
So in the next few years, you will be standing there representing China.
What kind of How exactly does China position itself at the United Nations?
Well, China is a strong advocate of multilateralism and a strong supporter of the United Nations.
And this is well known.
This is one of the underlying principles of Chinese foreign policy.
And then we also see ourselves as part of the Global South.
But when we talk about the Global South, It is not meant to be an alternative to the West.
Rather, it is actually to combine, in our view that all parties from the world can join their efforts to face the mounting challenges.
As I said,
And if you talk about China's position in this, as I said, that we see ourselves as part of the global South because of our similar historical experiences and our similar interests and also our common call for world peace and, in particular, in the case of the Global South, the call for development.
And that is a crucial tenet of Chinese foreign policy, And China has been advocating here in the United Nations that the development should be put at the center of the UN work.
And we have been advocating this, and we have been doing quite a lot.
I'm sure you're also aware of another initiative from President Xi, which is the Global Development Initiative.
And this has been widely supported.
Actually, one of the first events I attended was to provide a group of friends of the Global Development Initiative.
So that is what we are doing here in the United Nations.
Of course, some of the core issues there are very polarized, let's say.
Countries have very polarized opinion, and I mean the Palestinian-Israeli conflict at this moment.
And unfortunately, the word that we hear very often is the word veto when it comes to this issue, the most recent one being the US veto on Palestine's full UN membership.
Actually, since the current conflict broke out, the US has used its veto five times, and sometimes single-handedly, concerning resolutions of Gaza.
But China has also used its veto twice and China has stayed once.
People would wonder, is there a difference between China China is vital and the U.S. is vital?
Yes, of course, there is a fundamental difference.
Actually, this is the difference between the United States and the majority of the Security Council membership, including China.
The key issue is whether we should impose, or call for, or even impose an immediate and sustainable ceasefire in Gaza.
We all know, we all see the harrowing pictures on TV and I think it is the overwhelming call to end the collective punishment by the Israeli government on the Palestinian people.
And indeed unfortunately, the US has on several occasions vetoed Security Council resolutions that are calling for an immediate, sustainable ceasefire.
And that is the key issue.
And on the part of China's veto.
Again, the reason why China vetoed the resolution proposed by the United States was exactly because that resolution did not contain the demand for an immediate ceasefire.
Actually, that veto of China actually paved the way for a more significant resolution, which actually called for the inquisition of a ceasefire in Gaza.
That was Fu Cong, China's permanent representative to the UN.
This is ROE Today.
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Chinese logistics providers, e-commerce platforms and consumers are gearing up for the Double Eleven Shopping Festival on November 11, the country's largest annual shopping event.
The lead-up to this year's Double Eleven kicked off even earlier, beginning on October 20, and the opening numbers are impressive.
Within just one hour, more than 80 major brands, including Apple, Estee Lauder and Lululemon, surpassed 100 million yuan, or over US14 million in sales.
Over 30000 brands doubled their sales from last year's opening, a sign that consumer power is very much alive.
Logistics providers are stepping up too.
China Railway has designated more than 1700 high-speed trains to carry express shipments, ensuring that what people buy arrives fast, sometimes within hours.
What does W11 tell us about China's consumption recovery, and how are new technologies like artificial intelligence being used in e-commerce and logistics?
With more, Zhao Yang spoke with Li Lun, an assistant professor of economics at Peking University.
So Li Lun first.
What does this year's strong start to W11 shopping festival tell us about the trajectory of China's consumption recovery?
Yeah, so we're seeing that the double 11 is basically a front-loaded demand.
So basically people are ordering goods in events.
And this year we're seeing that more than 80 brands, from Apple to Lululemon and other brands, surpasses a revenue of 100 million yuan in sales.
So I would say the consumption is still very strong.
And the consumption recovery.
I think it's different from know.
When we go to a shopping mall, we see, you know the, the.
You know the visitors or the buyers.
You know how many of them are, are there, whether they're more or less than previous year, because online e-commerce it covers, you know the, the demand of the entire nation.
So i think part of the you know consumption recovery definitely comes from the areas.
For example, you know second or third tier cities.
Right now.
I've read multiple reports about.
You know how second to third tier cities demand strong demand to these luxurious brands, including Lululemon or other you know cosmetic brands.
Also, I think people still have a pretty strong demand for conspicuous consumption, meaning that by owning something you know show a certain status or a certain premium, including Apple you know cell phone.
So seeing these are definitely good signs of of consumption.
So I do think it's a very good, you know signal that our consumption is recovering, especially beyond the first year cities.
And what do you think are the new trends for this year's W11?
Are the days of spend and save promotions over?
Why are platforms now shifting towards more simple price cuts?
Yeah, so previously we see that sometimes these platforms have very complicated ways of giving you coupons, and you have to, you know, order in advance, or you have to wait for several days, or you have to, you know, watch a certain live stream to get a certain you know discount.
This year because, first of all, you know, for electronics or for home appliances, they're usually still have some of the, you know, the national consumption coupon, that's being, you know, in place.
So, instead of you know, playing all of these other marketing gimmicks, we're seeing that the platforms are basically just giving you simple you know, you know price cuts and showing you what's the lowest price you can get.
And compared to the original price.
For example, if you buy a fridge, maybe it used to be 9000 yuan.
Right now it's a little above 5,000.
It's very attractive to people who are, you know, thinking about upgrading their home or buying something new.
And this basically also reflects, you know, some, you know, intensified competition as well.
So it may or may not be a good thing, but you know, consumers are becoming less and less patient right now.
So if they see the price and they don't like it, maybe they switch to another platform or another brand.
So I think, by offering these price cuts and showing them exactly the market price how much is it going to be before and after the compensation I think this is giving people.
You know saves people's time and you know to avoid these losses in their purchases.
And China Railway is deploying more than 1,700 high-speed trains for express shipments.
So how crucial is logistic capacity in keeping the festival efficient?
And how are the new technologies, like drones, like AI, used in the e-commerce and logistics sector today?
Yes, so logistics is crucial, especially in W11 or other shopping festivals like this, because we need to make sure that the products are delivered to the consumer in a timely fashion and to reduce inefficiency.
Because you know the longer it takes for you know the products to be delivered, you know the more likely for consumers to return the products or to change their mind.
Also, it brings them a bad experience because sometimes they have to wait days, if not weeks to, you know, wait for their products to come.
But how to shorten the time, you know to, basically for transferring these products from the, you know, from the platform to the consumers.
I think a lot of companies, including JDcom or Taobao, are building warehouses everywhere in the nation.
And basically AI comes in very helpful because they can predict, using the orders and the demand, how much goods you should put into these warehouses in advance, so that when people order them actually place the order.
They can be shipped from a nearby warehouse instead of shipping all the way from another southern province that's a thousand kilometers away.
Also in terms of sorting or quality control.
I think robots and AI are already playing a very important role in it.
So we're definitely going to see a lot more automation, a lot more smarter in terms of routing or manufacturing or quality control to handle more capacity in the future.
And instant delivery services like Meituan and Flashbuy are gaining traction.
So does this signal a shift towards immediate consumption instead of waiting for delivery deals?
And why do you think this is emerging?
So I think consumers now have a trend of becoming less and less patient.
So these on-demand flash buys are not new in terms of ordering your food through a delivery service.
Right now.
When it comes to other products like water or other home appliances, sometimes you want to pay a little bit more so that it can be delivered faster.
They have a market there as well because, as I mentioned, a lot of the products are stored regionally or nearby.
So if we make sure that the storage is made in a smart way, you can actually achieve to deliver some of the daily products in 30 minutes or so.
And basically, first, the consumers can get the products they need in a timely fashion.
And also the.
You know, the stores can sell it for slightly higher price than on the e-commerce platform for providing the convenience.
So I think this is basically, like you know, the difference from an outlet to a convenience.
You know street corner convenience store.
So we definitely need some of the convenience stores, but we also need these big outlets for our you know bigger, you know purchases.
And how are young consumers shaping the double 11 trends?
Are they more rational and selective this year?
Yeah, so I can't speak for the entire Gen Z, but I do think people are especially the college students or our colleagues or people nearby, I think they are less interested in simply just buying a certain certain good brand, but they also want, you know, a good deal, basically.
So they want the deal to be transparent also when they buy the products.
They want beyond, you know, the day-to-day use of the product.
They want some experiential value, they want some emotional value.
So you know, spending that's going towards fitness, for example, or cultural events tourism, or cosmetics, or smart variables, you know, or home appliances.
I think this is These are going to be, you know, for the future, because the Gen Z are gradually having their own kids as well.
So, you know, home improvement is going to be very important for that generation as well.
And as consumption upgrades continue, which sectors I mean technology, lifestyle or health are likely to be the next growth engines?
Yeah, so it's hard to make predictions, but I think a key word is upgrade.
So, whether we're talking about lifestyle, whether we're talking about devices or health or living style, I think people are seeking to upgrade, whether to upgrade their phones or their, their home appliances, their devices, or to upgrade lifestyle is also important, for example, to change to a healthier lifestyle and more active lifestyle.
For example, you can exercise in your home, switching from for example, there's a lot of at-home wellness gear or the mirrors that can support you to do fitness.
You know exercises.
And also people are becoming less and less patient.
So they also need to upgrade their delivery speed as well.
So I think the key word for the future is upgrade.
That was Li Lun, Assistant Professor of Economics at Peking University.
You've been listening to Road Today.
U.S.
Defense Secretary Pete Hexeth has announced another deadly strike on a boat allegedly transporting drugs in international waters of the eastern Pacific.
The attack comes on the same day an American aircraft carrier began moving into the region, marking a further expansion of US military presence.
The defense secretary said two people aboard the vessel were killed, but he provided no evidence or identified the cartel involved.
This brings the death toll from Washington's campaign in South American waters to at least 66 people across at least 16 strikes.
Venezuelan President, Nicolas Maduro, has repeatedly condemned Washington's action as attempts to overthrow his government and expand the US military influence in Latin America.
Colombian President, Gustavo Pacho, also criticized the strikes last month, accusing the US government of murder for killing drug suspects at sea.
For more on this, joining us on the line is Dr He Wenping, senior research fellow at the Chinese Academy of Social Sciences.
Thanks for joining us.
Thanks for having me.
The Pentagon announced this strike while sending an aircraft carrier to the eastern Pacific.
What message is the US sending and what's your analysis on the triggers and deeper causes behind this escalation?
Yes, this Pentagon's announcement, of course, obviously to show that now the United States government has put this issue now to another height.
Now they are not just threatening, they have been already deploying those aircraft carrier all the way to those area surrounding the Venice, Vienna.
That is why even President Maduro already asking the help from Russia, so on, so forth, and all the other, this southern American countries, including Brazil, and also condemn the United States, this kind of a hostile.
By the way, there's a recent from United States saying finger pointing to Venezuela, saying they have been involved in the drug deal.
Actually, until now, no strong evidence at all.
By the way, they have been accusing.
They are not happy about the Venezuela saying they have been sending so-called criminals all the way into United States.
Even those mentally sick, those crazy people. a guy out from the hospital.
And also those like a gangster mafia now has been doing the things, those criminal things in the United States.
Those are the reasons on the surface.
By the way, we all know it's not that simple like that.
The U.S. seems to be setting up a military staging area near Venezuela.
Does this mean a planned escalation is underway?
And what was the worst scenario?
Oh, yes, of course.
This kind of deployment of those military.
This like either aircraft carrier or like already killed around like more than 60 so-called drug dealers in the ocean.
So this means now the White House is really thinking something in real.
I read some information.
It was said, now is Donald Trump himself not make the final decision yet because he's really afraid of maybe some further very negative consequences coming out and even out of his control.
But his state secretary, like Rubio, has been pressing these things very much.
We all know Rubio also.
He's coming from Cuba before, so they're not happy about Maduro for a long, long time.
That is why even now supporting the Venus Venus, those opposition forces, they want to get something now for opposition forces can further uprising and then through this Maduro's totally.
Of course, the further thinking is not just a regime change and also eyes on Venus.
Venus is a rich oil resources.
Colombia and Venezuela have condemned these actions, and countries like Brazil and Mexico have also spoken out.
What impact does U.S. military presence have on regional politics and trade?
And why does anti-drug action by the United States trigger so strong pushback in Latin America?
Of course, this kind of activity made by the White House, it has no good for maintaining the peace and very good this trade relationship, you know, between the South American country and with the rest of the world.
Can you imagine if the US sent the aircraft carrier and all those warships around those countries and then even shooting fire with some vessels around there?
That will, of course, scare away some business, those vessels and all those the normal trading.
So it's, of course, not good at all.
By the way, so far, we cannot see how this White House will make another boat.
There's a military activity saying some people say are three ways already on the table for the Donald Trump?
One is maybe add a bomb, bomb on some like a port or some even military compound by the Maduro in controlled by President Maduro.
And the second way saying sending the ground troops directly into this Venezuela, this territory.
But I don't think the second option will be that possible.
By the way, the very possible could be the very first one.
That is the airstrike.
So this airstrike this way has been done many times by United States government.
You see, even when Donald Trump got to the White House, he also sent, you know, this American Air Force all the way to bomb Iran.
Those you know go all the way into the underground and then trying to destroy Iran's so-called nuclear facility.
So it has been done like that way.
So we cannot wipe out.
Maybe Donald Trump will now do it again to bomb Venezuela, some very important military stronghold, or like some key facility.
Thanks, Dr. Hou Wenping, senior researcher fellow at Chinese Academy of Social Sciences.
That's all the time for this edition of Road Today with Mika Anna.
Thank you so much for listening.
