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China and italy reaffirmed strong ties.
What opportunities lay ahead?
World bank leaves china's growth forecast to 48 percent.
What does this mean for global economic growth?
And israel and hamas reach agreement on the first phase of a peace plan.
Could this be a real turning point for gaza?
Welcome to road today, a news program with a different perspective.
I'm Guiana in Beijing.
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Chinese and Italian foreign ministers have reaffirmed their strong ties and pledged to deepen cooperation.
During talks in Rome, Italian Foreign Minister Antonio Tajani said China remains one of Italy's priority partners, expressing hopes to expand mutual investment across both traditional and emerging industries.
Chinese Foreign Minister Wang Yi highlighted that the two nations have enjoyed over half a century of high-level practical cooperation, built on openness and shared development.
He said China stands ready to further strengthen the partnership and tap new potential in diverse areas.
Natalie Carney reports.
The meeting here in the Italian capital on Wednesday morning between China's top diplomat, Foreign Minister Wang Yi, and his Italian counterpart, Antonio Tajani, was deemed as quite fruitful.
The two met around 10 am local time and progressed into a closed-door meeting in which they spoke of global issues, including those of geopolitical stability, energy transition and security.
After that, the two co-chaired the 12th China-Italy Intergovernmental Meeting, an opportunity which really provides both countries to develop the tools to strengthen comprehensive strategic partnerships and plan for future areas of cooperation.
Both sides shared a commitment to progressively remove barriers to market access, as well as reaffirmed their desire to intensify economic relations, focusing on sectors that are strategic to both countries' economies.
This was followed by a press conference in which Mr Wang Yi spoke of the long and strong relationship between the two nations.
This year marks the 55th anniversary of the two countries' diplomatic relations.
The steady and healthy development of Sino-Italian relations over the past 55 years is based both on historical exchanges and the need for mutually beneficial cooperation.
Mutual respect openness cooperation, exchange and mutual learning are our shared values and embody the wisdom of the two ancient civilizations.
This not only provides a solid foundation for the development of our bilateral relations.
The guarantee also provides a feasible path for the international community to respond to the changes of the times.
Rome has been working quite hard to maintain open and progressive relations with Beijing, after withdrawing from the Belt and Road Initiative back in December of 2023 and voting yes in favor of EU tariffs on the imports of Chinese EVs.
However, following the meetings on Wednesday morning, it does not appear that those moves hindered relations too much.
For more on this, let's have Dr Cui Hongjian, professor with Academy of Regional and Global Governance at Beijing Foreign Studies University.
Professor, let's start with China-EU relations first.
China has placed great importance on its cooperation with the European Union.
Foreign Minister Wang Yi just visited Austria, Slovenia and Poland in mid-September and now, less than a month later, he's back in Europe again.
So, given the current trade issues and strategic differences between China and the European Union, what kind of political breakthroughs do you think recent visits might bring?
First of all, as we know, even now, for China-EU relations.
Indeed, there are some problems or some barriers for its stability and also development.
But undoubtedly, I think, from China's perspective, the European Union and the European countries always very, very important partners with China, not only for economic reasons, but also for political and even global governance issues.
So I think this is a very frequent visit by Minister Wang to European countries, showcasing the very, very big importance for the Chinese government to try to stabilize and also even improve the mutual trust between two sides.
And, as we know, this year is still the 50th anniversary for the diplomatic links between China and the European Union and also Chinese policy towards Europe, not only just for European Union institution and also for those member states and also even non-member states of European Union.
So we can find out here whether by Minister Wang is trying to keep the stable development and also promote the mutual engagement.
So I think it's very, very important.
And also us, China, continue to push forward this cooperation and communication.
I think in future there will be more bright and also even more mutual confidence for both sides.
Then, moving to Wang's visit to Italy, Italy's foreign minister has called China a priority partner and reaffirmed Italy's firm commitment to the One China principle.
Then how do you rate that?
From their perspective, what's driving this continued commitment to deepening cooperation with China?
I think this very, very huge requirement of cooperation from the Italian side towards China is very, very substantial.
As we know that for recent years there are some also divergences between China and Italy on some issues economically or geopolitically.
But there are a lot of cooperation for the past and also very big potential for the future cooperation.
So I think this statement from the foreign minister of Italy is a very, very big showcase that still Italian side look forward to some more cooperation with China.
And also, I think, the very, very big dynamic for this cooperation between China and Italy is no matter what happens for this consideration from the so-called security consent or UN ideological issue, But I think these common interests, and especially economic and trade and investment industry, is very, very important for current Italy, especially for its economy and for its GDP growth and even for its job opportunities.
So I think this requirement is very, very big and very, very substantial.
Professor, the talks mentioned several concrete outcomes, including the construction of innovation cooperation park, the joint launching of satellite and the extension of China's visa exemption policy for Italian citizens, etc.
These results span economic, technological, and cultural areas.
So which of these forms of cooperation, in your opinion, could serve as the ballast for deepening China-Italy relations in the future?
As we know, Italy is a major economy on the European side and there are always some structural cooperation between China and Italy.
Even when we look at this current visit by Minister Wang, we can find out more.
Structural cooperation happened between two sides.
And also, besides this, continuing and structural cooperation even I think both sides are trying to create some new form of cooperation and to catch up the tendencies for some new economies and even some new areas.
For example, there will be some more cooperation between local governments and also there are some more cooperation in some cultural technological area.
I think it shows a very, very comprehensive situation.
So I do believe that West China Italy, they can continue this structural comprehensive cooperation.
Certainly, there will be some more achievements in the future.
Professor.
Both sides also pledged to safeguard global supply chain stability and to enhance dialogue on international issues such as the Gaza and Ukraine crisis.
So, in your view, how might closer China-Italy coordination on multilateral issues influence the EU's overall policy toward China?
China and Italy is a strategic partnership.
I think now it's time to showcase how could the partners do something together.
As we know, this time China and Italy.
They talked about some difficult issues like so-called supply chain stability and even some geopolitical issues.
I think it's a very, very important and the right posture for these partners to have, I mean frankly and also open discussion, even on some difficult issues.
And also, as we know, comparing with some other European countries.
The Italian government now showed a lot of autonomy on its foreign policy, security policy and some other.
I think it also gave a very big space for both China and Italy.
They can try to touch some human difficulty issues.
As we know, Italy is a major member state of the European Union.
And now, under the Prime Minister Manoli administration, it looks like Italy has some more influence within the European Union.
So I believe that once China and Italy, they can start to change the course of some difficult issues.
Certainly, I think it will give some more spillover effect to some other European countries and even it could contribute to some more engagement, some more communication between China and the European Union institution.
Foreign Minister Wang Yi also mentioned that China will soon launch its 15th five-year plan focusing on industrial upgrading, digital transformation and grain development.
So, given Italy's strength in high-end manufacturing and fashion design, what potential areas of cooperation between the two countries do you see emerging during the next five years?
Generally, I think China and Italy and some other European countries, they are sharing even a similar direction for further development, including the upgrading of the industry and green transformation and the digital transformation and some others.
So I think cooperation between China and Italy could be a successful case to show how big of a potential for both China and Europe once they can affirm the same direction and also the common ground and some other.
You also know China is starting its 15th five-year plan.
I think certainly it will give some more opportunity for Italy.
Firstly, I think Italy will try to introduce some experience from China to have a long-term plan or long-term industry development.
And then Italy could try to find some more area for cooperating with China.
For example, how about this EVS Corporation?
Even as we know, now there are some frications between China and European side.
But undoubtedly, once China has provided some more opportunity for cooperation, there will be very, very big attractions for Italy and some other European countries.
Professor, one last question.
This year marked the 55th anniversary of diplomatic relations between China and Italy.
So, beyond the pragmatic cooperation, the two sides have also carried out literary translation projects and twin-city cultural events.
So how do you see civilization, dialogue and cultural exchange contributing to the stability and long-term resilience of China-Italy relations?
Indeed, I think, always for both China and Europe, for both China and Italy, this kind of a cultural exchange, a civilizational dialogue and the people-to-people contact always very, very important basis for these relations.
Also, you know, besides the government-to-government and also economical cooperation, this people-to-people, culture-to-culture exchange, it could provide a very, very strong support uh, for any kind of a long-term exchange and even friendship.
So i think now it's time to promote the importance for this kind of a long-term and also bigger scale exchange between two peoples, between two societies, especially after you know that's a very, very important representative from european side.
Italy has a long history and a very, you know, rich experience for its cultural exchange.
I think it will provide very, very example for other European countries.
How could we develop a kind of comprehensive relations, not only just for people to people, economic cooperation, and also we need a long term and comprehensive, especially people to people, exchange.
Thanks, Professor, for insightful analysis.
That's Dr Cui Hongjian, Professor with Academy of Regional and Global Governance at Beijing Foreign Studies University.
This is World Today.
We'll be back.
China has reportedly paused the purchases of iron ore from Australian mining giant BHP over pricing issues.
Is this a temporary dispute?
How might this incident test the Australian-China relationship, which only began stabilizing recently after years of tension?
Join us on the chat lounge, wherever you get your podcasts, and on CGTN radio as we unpack the causes, the consequences and the shifting power dynamics behind the iron ore standoff.
This is World Today.
The World Bank has raised its 2025 growth forecast for China to 4.8%, up from 4% in April.
The upward revision comes as part of a broader upgrade for East Asia and the Pacific, following a summer of global uncertainty caused by US tariffs.
The new projection brings China's outlook closer to its official growth target of around 5 for this year.
To delve into this.
Joining us on the line is Lei Lun, Assistant Professor of Economics at Peking University.
Thanks for joining us, Professor.
Thanks for having me.
Professor, the World Bank has just lifted China's 2025 growth forecast from 4% to 4.8%, a big jump.
It says stronger export performance and sustained manufacturing output are the main reasons.
So how do you see this upward adjustment and China's performance behind it?
Yes.
So, as you see, we are seeing that back in April.
You know, the World Bank is still forecasting a 40 of growth both for this year and next.
Right now, six months later, the World Bank is readjusting its forecast to 48, which is much higher than expected or than its previous forecast.
So we're seeing, I think, a lot of reasons contribute to this adjustment.
First is we're seeing pretty strong export numbers.
So for the first eight months of 2025, we're seeing a almost 7% increase in exports.
So the PMI, which is the Purchasing Managers Index, indicates China's manufacturing sector is also pretty strong.
It's up 0.4% from previous month in September.
So it's close to 50, which is the borderline between expansion and contraction.
And some other key sectors are also showing strong growth momentum.
So I think overall, the adjustment of the World Bank's forecast is signaling a more positive market outlook and a more optimistic view among the business society.
The report also raised the 2025 growth forecast for East Asia and the Pacific to 44, with China's impetus about the regional average.
So how do you interpret China's role as a regional growth driver?
And what does this mean for industrial chain coordination and trade interdependence among neighboring countries?
Yeah, so China is a very, you know, important contributing factor in Asia.
And if we, as we have analysis, you know export is one of the main reason why the World Bank has adjusted, you know, China's GDP.
And if we look at, you know the among that, you know trade partners.
ASEAN countries are actually the number one trading partner between China.
So the basically the trading volume is close to five trillion dollars and we're seeing a nine point, seven year on year growth.
So if we include Australia and New Zealand and look at RCEP countries, so these countries together contribute to 33 percent of global GDP and 40 percent of global GDP growth.
So we're seeing, basically the Asian countries, and including the Australian and New Zealand, are becoming more and more like a trading center or a hub for global prosperity.
So basically, China's role is also shifting between a world factory to a coordinator of trade, of supply chain.
So basically, as you said, it's becoming a driver for regional growth instead of, as previously, only a factory of the world.
Professor.
That said, it's not without challenges.
A slowdown in export growth potential, reduction in fiscal stimulus and structural headwinds still weigh on growth prospects.
So how do you assess the pressures China's economy is currently facing?
Yeah, so I think one of the main challenges for Chinese firms is that the industrial profits basically is not very high.
So we're facing some deflationary pressure.
If you look at, for example, September's number, the profits are up 0.9%.
So basically it's a good news after August number, but it's still not very high.
And if you look at, for example, CPI, it's down 0.4% in August.
So, which means that we're potentially facing this very dangerous spiral that if prices goes down further, you know, people's wage and income goes down further.
And then this is going to be a, you know, a very bad cycle.
So how to fix this is to avoid, you know, bad competition, especially with respect to cutting each other's prices.
So I think it's better for the firms to kind of raise their quality of their products instead of, you know, getting involved in these low, low quality, low price competition and further driving the prices down.
I think that's one of the main pressure or main difficulties or challenges that China is facing.
But I think it also requires a structural reform in terms of the market structure and also in terms of the competition structure.
Professor, despite the challenges, we have to highlight a set of truly impressive figures.
During the Super Golden Week holiday, domestic trips hit 888 million, up by 123 million year on year, with spending hitting over 800 billion yuan, or about 113 billion US dollars, an increase of over 100 billion yuan from last year.
So how do you see consumption today driving China's economy?
Yeah, so this Super Golden Week is actually a very good opportunity for consumers to spend their money, because first it's an eight-day holiday.
It combines the National Day and also the Mid-Autumn Festival.
And people sometimes make several trips instead of just going one destination.
Sometimes they will go travel and also visit their families.
And if we look at their spending patterns, we're seeing a stronger trend towards consumption, towards their experiential value.
Basically, they're looking forward to higher quality services.
They're looking forward to a better experience, rather than just going to the places of interest and taking a photo.
So I think this poses some very good opportunities for employment and small businesses.
But we have to be careful about how durable this is, because sometimes these travel trends can go away very quickly.
So I think there's need to be a balance between how much to invest in the local tourism and how much to kind of invest in other sectors, like other kinds of services, like healthcare, education or manufacturing as well.
Professor, let's shift the gear to investment.
The report mentioned that many businesses are taking a wait-and-see approach, delaying or cutting capital expenditures.
So, beyond short-term policy boosts, what deeper reforms in your opinion are needed to further lift confidence and unleash more private spending and investment in China?
Yeah, so I'll mention a few.
I think the most important one is to kind of reduce or diminish the local protectionism, basically to construct a national unified market.
This is something, this is an agenda that's repeatedly brought up by the high officials or the government repeatedly.
So the reason for that is that we don't want uh, you know, any firm to be discriminated against because they're not from the region or not from the country.
So we want to have a fair competition, a fair playing ground, whether you're a, you know, a foreign company, where you you're a private company, or or you're a state-owned company.
So this care, this requires, for example, you know, establishing the laws or regulations to ensure the competition is fair.
We need to have good financing for small and medium enterprises.
But fortunately, I think, a lot of these requirements or a lot of these measures are already in place or in progress.
For example, there are new regulations that's being passed to ensure the competition between different firms are fair.
And also, I think we have to make sure that the benefits of AI and digital infrastructure can be benefiting every firm, whether it's big company or it's small and medium company.
Basically, the benefits of the digital development can be applied so that all the companies can get access to these in a cheaply and cost-efficient manner.
Professor, earlier you mentioned about structural reform and also business moving up to better qualities.
The World Bank says growth should come from reforms, not just physical stimulus.
The view that actually fits well with China's high-quality development goals.
So, in your view, which areas like digital infrastructure, opening up services or training talents could most quickly translate into new drivers of growth in the country?
It's about employment.
It's also about consumption, because to have a service, you need to have people actually taking these jobs and actually providing you products and experiences.
That benefits the consumer.
So I think this is also the area that's needing or also seeing the most innovation.
So, as you mentioned, I think a lot of the investment in digital infrastructure is very important, because we need to have good internet, we need to have good road, good data centers to support all of these, especially AI-centered devices or AI-centered new services.
So also we need to have a more targeted training towards human capital.
Indeed.
Thanks, Professor Li Luan from Peking University.
This is World Today.
We'll be back after a short break.
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China has called for an early realization of a permanent ceasefire in Gaza after Israel and Hamas agreed a first phase of Gaza ceasefire agreement.
Foreign Ministry spokesperson Guo Jiakun says China hopes to achieve a permanent and comprehensive ceasefire in Gaza as soon as possible, effectively alleviate the humanitarian crisis and ease regional tensions.
Guo notes China supports the principle of Palestinians governing Palestine and promotes the implementation of the two-state solution.
He adds, China stands ready to work with the international community to make efforts towards a comprehensive, just and lasting solution to Palestinian questions and a peaceful and stable Middle East.
So for more on this, let's bring in Dr Zhang Chuchu, Deputy Director of the Center for Middle Eastern Studies at Fudan University.
Thanks for joining us, Professor.
Good evening.
Professor, let's start by talking about the freshly announced first phase of the Gaza ceasefire.
Can you break down what this stage actually covers and what each side really wants behind this phase concessions?
Well, as far as we can find at the moment, it seems that the first phase of the Gaza ceasefire agreement focuses primarily on immediate humanitarian and security measures to halt the ongoing conflict or at least de-escalate it.
Also according to many reports.
This first phase includes an immediate ceasefire, also the release of all the remaining Israeli hostages, including both the living ones and the deceased, held by Hamas.
And so in exchange, Israel is also going to release many of the Palestinian prisoners.
And, in addition, we can also find that the Israeli forces are to partially withdraw to an agreed upon boundary which allow for the resumption of the humanitarian aid flows into Gaza.
So according to it, we can see the phase is set to begin within 72 hours of the agreement.
So we are going to wait and see what's going to happen next.
Professor, do you think they can actually get through this first phase and move on to the second?
Because the deal so far doesn't touch on key issues like Hamas giving up weapons or Israel fully leaving Gaza.
Can agreement that skips the hardest parts really set the stage for later talks?
Well, I think that would be very hard.
I think completing the first phase appears difficult. realistic or like, let's say, possible.
But transitioning to the second phase seems more challenging due to a lot of unresolved core disputes, as you mentioned.
While Hamas insists on the withdrawal of the Israeli troops from Gaza, Israel at the moment insists on the total disarmament of Hamas.
So I think right now they're just trying to take the avoiding core dispute strategy, which is pragmatic.
At least it allows immediate relief and provides some conditions to facilitate the hostage releases and aid delivery.
But meanwhile risks are there because, since the fundamental disagreements have never been solved, at this stage the two sides do not trust each other.
So the process of implementing the agreement may be accompanied by many variables.
Because this first phase doesn't mention who will run Gaza after the fighting or how security will work.
While earlier Netanyahu mentioned Israel wants long-term control of the region and Hamas wants Palestinians in charge.
So, looking back, according to past Israel-Palestine ceasefire, they often fell apart because details were vague or one side broke the term.
So, given all of this, could this turn the ceasefire into just a pause, you know, letting both sides regroup and maybe even read the risks of a future clashes?
Well indeed, I think there is the possibility that the shelving of the key disagreements on post-conflict governance and security structures could transform the ceasefire into a breathing space, which might heighten the risk of the renewed conflict.
That is possible because right now, this agreement allows both sides to claim short-term victories as Israel secures hostages and Hamas gains prison or releases an aid.
But I think this round of negotiation has not addressed the root causes, so it risks escalation if negotiations fail in the next step.
And as for Netanyahu, once the hostages have been released, he's going to be very unpredictable.
He might even escalate military strikes more recklessly.
And, in terms of Hamas, if Israel does not withdraw or if there is no Palestinian-led governance, it is also very likely to continue its hotline actions.
And both parties may also accuse each other of violating the agreement, as happened during the 2024 ceasefire negotiation.
Professor, before the deal, we saw heavy involvement from mediators like the United States, with its 20-point plan as a guiding framework.
So do you see these third parties mainly pushing for a short-term compromise, or are they really trying to set up long-term peace?
What do you think the United States really wants out of this?
Well, I agree that in the first phase of the Gaza ceasefire agreement, we can see that our de-mediators have played a pivotal role.
For example, Egypt hosted key sessions in Sharm el-Sheikh, Qatar led many of the diplomatic shuttle over the past two years and also Turkey has contributed to the framework.
As for the United States, we know that Trump proposed a 20-point plan and also this time, he pressured Israel to accept it.
And I think by doing so, Washington's objectives in the process are twofold because, above all, by chairing the Board of Peace for border security and police training in the future, the United States aims to guide transitional administration and lead the governance structure in post-conflict Gaza.
And secondly, I think also Trump attempts to establish his diplomatic achievements.
And also he tries to, you know, change people's impressions of the so-called Trumps, often chickened out.
And also he wants to add points to the midterm elections.
Mm hmm.
Professor, let's delve into the U.S. factor further.
A Brown University research shows the US sent Israel 21 billion US dollars in military aid over the last two years, with most weapons coming from US stockpiles.
Now, with over 67000 people dead in Gaza, what do you think is driving US to keep sending weapons?
And is that really consistent with its stated goal of promoting peace in the region?
I think there are many core strategic considerations driving the United States to continue its military support to Israel.
Because, let's say right now, the United States and Israel have a lot of common interests in the Middle East, such as containing Iran's influence in the region.
And also it is important to note that the Trump administration's decision making is also affected by many lobbying groups in the United States.
And obviously this does not align with the United States so-called goal of promoting regional peace because, on the one hand, the United States continues to provide weapons and economic support to Israel, making it even less likely for Netanyahu to end the conflict or make any compromise.
And, on the other hand, by providing States, also acts as an ally of Israel rather than a neutral state.
And this is an important reason why it is very difficult to gain trust as a mediator in the process of mediating conflicts.
Professor, let's talk about China's stance on this matter.
China has kept emphasizing stop the fighting, protect people and calling for a permanent ceasefire, and supporting Palestinians running their own affairs while pushing the two-state solution.
How do you rate China's latest statements?
Well, from my viewpoint, I think this position shows that China is a proponent of multilateralism and peace in the global south.
Right now, China maintains neutrality on a lot of hot issues in the Middle East.
Also, China always adheres to principles such as sovereignty and interference in internal affairs.
And also this time, China pays very close attention to the humanitarian situation in Gaza.
Also, China has provided a lot of assistance to alleviate the humanitarian crisis.
So right now, China believes that resolving the Israeli-Palestinian conflict must be done as its route, and also believes that if the issue of establishing a Palestinian statehood is not resolved, then it means that the cycle of violence between the two sides will be very difficult to break.
And moreover, as for China, it believes that the current reconciliation between Palestine and Israel requires the joint efforts of the international community and also the major Middle Eastern countries to establish a negotiation mechanism.
Thanks, Professor, for your depth of the analysis.
That was Dr Zhang Chuchu, Deputy Director of the Center for Middle Eastern Studies at Fudan University.
This is World Today.
We'll be back.
I'm Einer Tangen, a political and economic analyst and senior fellow at the independent Taiher Institute.
World Today is news without the hype and business commentary, that is informed and up to date, presenting the facts and asking incisive questions.
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China's box office has already surpassed last year's total, fueled by strong ticket sales during the National Day holiday.
As of Wednesday, total box office revenue for the year has topped 40 billion yuan, or about 6 billion US dollars, up nearly 20 percent from the same period last year and 3 percent higher than the full year's total for 2024.
The number of moviegoers has also exceeded last year's total by around 2.5%.
Domestic films dominated the eight-day holiday, accounting for nearly 99% of Tiki sales.
So for more on the topic, Xue Wen spoke with Cheng Ji Meng, Associate Professor of American Studies at Beijing Foreign Studies University.
Professor Tong.
Let's start by discussing the top two films The Volunteers Blood and Peace and The Evil Unbound, both of which are historical war dramas that engage with national memory.
Why do you think audiences are attracted to these types of historical films right now?
And what's your take on the overall diversity of this year's film selection?
Well as a film enthusiast.
I find the current audience attraction to historical narratives like The Volunteer's Blood and Peace and 733, also in English even Evil Unbound both fascinating and meaningful.
These films resonate strongly with contemporary viewers for several reasons, I think.
For example, there's a growing collective desire to connect with our national history and understand the struggles that shaped our present, the days rapidly changing the world.
These historical narratives provide moral clarity and showcase the resilience of the human spirit during challenging times, and that remind us of the importance of unity, sacrifice and perseverance.
Furthermore, modern filmmaking techniques have made historical events more immersive, emotionally impactful than ever before, and audiences are not just learning about history, they're experiencing it viscerally, which create deeper emotional connections to those important stories.
So in this sense, i think um, historical films are more kind of resonant, and the diversity, of course, is also important.
But in terms of the, the so-called the spirit of the times uh, the so-called the moral clarity and also the general ethos of our era uh, We have been hearing a lot about the ticket economy lately, where for every yuan spent on the movie ticket, another five are spent on things like dining, travel and shopping, and locations featured in films are turning to big tourist spots, like at Chongqing's Yuzhong District, where appeared in a writer's odyssey too, saw nearly 6 million visitors and over 53 billion yuan in spending in just the first few days of the holiday.
How do you see these films' success boosts tourist spending and changing consumer habits?
Well, the ticket economy is a fascinating concept that highlights the powerful ripple effects of the film industry.
For me, the film plus model act as a powerful economic multiplier, primarily through two channels.
The first one being the direct location tourism.
When a film showcases a specific location, it transform it from a mere setting into a narrative landmark.
That's seen with Chongqing's Yuzhong District in a writer's odyssey too.
This can trigger a massive immediate influx of tourists.
This self-jetting trend drives revenues directly to, for example, hospital food and beverage, local retail, IP-driven economic clusters merchandising, experiential commerce and cross-industry collaborations.
And so one yuan to perhaps five yuan multiplier is a compelling way to qualify this, and demonstrating the value of a fixed film extends far beyond the box office, stimulating a wide range of secondary consumption.
And in Chongqing's Yuzhong case, this model actually serves as a driving force for a deeper and structural shift.
Professor Tong, 2025 has been called a breakthrough year for film technology.
And we have noticed there is a growing trend of incorporating immersive technologies like 3D into the industry.
We have also seen the rise of large virtual studios, and China holds over half of the world's patents in this field.
So how do you think these advancements in technology are changing the way films are made and how important this technological shift will be in attracting new audiences, say younger generations?
Yes.
Looking at the cinematic landscape of 2025, It is impossible to ignore the seismic shit happening not just in front of the camera but behind it.
Dubbing this a breakthrough year for film technology isn't a hyperbole, it is a statement of fact.
The industry is in the throes of a digital renaissance driven by immersive tech and virtual production, and its impact on both filmmaking and audience engagement is profound.
Now, in terms of how tech is reshaping the filmmaker's canvas, I think the most significant change is the move from a fix-it-in-post mentality to a set-it-on-set reality.
The rise of large-scale virtual studios, a field where China's dominance is in patents, is a game-changer and is fundamentally altering the director's toolkit.
Now, first thing first, the endless backlot.
Imagine filmmaking a filmmaker making a sprawling historical epic like The Volunteer's Blood and Peace one moment and a futuristic sci-fi city the next all without leaving the same soundstage.
OED volumes walls display hyper-realistic and dynamic environments in real time.
This means actors can genuinely react to their surroundings, seeing the sunsets over the Gobi Desert or the neon glow of a virtual city.
So, rather than a green screen, the result more authentic performances and a dramatic reduction in costly post-production VFX work.
Secondly, I think the directorial liberation and agility.
Directors now have unprecedented creative freedom.
They can change the time of day, weather, or even an entire location with a few clicks.
This agility allows more spontaneous creativity to creative storytelling.
For a film like Evil Unbound, which demands a specific oppressive atmosphere to convey its heavy themes, the ability to perfect the lightning the environment in camera is invaluable.
So, in this sense, I think filmmaking will be entering into a brand new stage, attracting the next generation of cinephiles.
This technological shift is not just a behind-the-scenes thing.
It is a powerful magnet for new audiences.
The Gen G generation, the alpha generation, I mean, they actually are the future film cinephiles.
And so in this sense, the technology is creating this whole new brave world.
Let's look at the business side.
We have noticed that the rise of film stocks with the industry moving beyond just ticket sales.
And now films are making money through things like merchandising, streaming rights and even licensing IP.
So how does this shift help the industry?
And with tech and gaming companies getting more involved in filmmaking.
What role do tech and gaming companies, who are increasingly involved, play in shaking up the industry for the better?
Well, first thing first.
I think the combination of a diversified revenue model and the influx of tech and gaming giants is creating a more robust and better informed and innovative film industry.
It is pushing storytelling beyond the silver screen into a multi-platform experiential ecosystem, ensuring that films are not just watched but lived, that their value extends far beyond the ticket stop, and so, to a large extent, i would say the diversification of revenue stream and the entry of tech giants are actually a very progressive force.
There are two of the most transformative forces in the modern film industry.
In a sense, moving beyond the box office is no longer just a strategy.
It is a necessity for a resilient and growing film ecosystem.
This diversification helps in several ways in increasing or funding the films.
I think it is de-risk production.
Blockbusters are incredibly expensive.
Relying solely on ticket sales of high-stake gamble and revenues from merchandising.
Licensing of streaming rights provides a financial cushion for the film even before the film even hits the theaters.
So this allows studios to greenlight ambitious projects with more confidence.
That was Cheng Ji-Meng, Associate Professor of American Studies at Beijing Foreign Studies University.
This is World Today.
Stay tuned.
At the global leaders' meeting on women will take place in Beijing.
Zhang Yujiao, the first Chinese member and chairman of the WTO Palate Bodies Dispute Settlement Mechanism, expressed her pride in China's efforts to implement WTO arbitration rulings.
He made the remarks during a conversation with Tian Wei.
Let's take a listen.
Palate Bodies, in which you used to work for as the Dispute Settlement Mechanism chairwoman, now is facing a critical juncture as a result of certain members of the WTO seized its role within the WTO and refused to update the new members of the Apple body.
The AB, as you say, actually collapsed, at least the paralyzed.
So Madam Zhang, what is your take on the current situation?
Yeah, we feel very bad, very sorry. for the dysfunctioning of the appellate body.
The dispute settlement system of the WTO is the most successful function of the WTO.
Three or four functions, together with the multilateral negotiations, trade policy review and technical assistance.
So dispute settlement is the rule of law in international trade and for the enforcement of the implementation of the WTO obligations, rights and the WTO-covered agreement to support the rule-based multilateral trading system is critical.
And appellate body is one tier of the two tiers altogether, the system.
It's a fair balance of rights and obligations and fair procedures among those parties who use the dispute settlement.
I should say that it's very successful.
To my time, I think already, there were 600 cases handled and solved peacefully through the means of mediation and arbitration and appeal system.
And also the enforcement is very good overall.
So now the WTO has 166 members.
They need badly smooth, functioning dispute settlement system when the appellate body is lacking.
Up to now there are about 40 cases pending because when the parties appeal, the legal issues arise from the panel report.
They are waiting for a fair appellate body solution.
So I think to quickly recover resume, the appeal system is needed.
It's to also ensure the objective of the dispute settlement embodied in the DSU for prompt and positive solution of dispute.
Well, many say, without the appellate body, without the dispute settlement mechanism of the WTO WTO literally, has lost its teeth.
So, without that so far, and with the geopolitics, as we all have witnessed rise of protectionism as well in certain economies, the United States for example how do you see the hope of that recovery you just talked about?
Yeah, first I would like to clarify a little bit that in the dispute settlement system of the WTO there are two tiers panel stage and then appellate body stage as the final stage of the dispute settlement.
So for the panel stage, they are still working properly.
So I hope that they can continue to handle their cases positively and promptly.
However, without the appeal system, to correct the major legal errors.
So a lag is lacking.
So really that's why there are about 40 cases pending.
So when they want to appeal, challenge the errors to correct the errors of the panel report, but they have no way their rights already undermined and cut off.
So that's why it's urgently needed to accelerate the reform and resume the appeal system to make the system complete and perfect.
We understand now there's something called, as you said, multi-party interim arbitration appeal arrangement.
I remember that right.
So MPIA abbreviation.
It's still working, which means it could be at least the very first stop for those disputes to go to.
And yet without the final decision and the executive power to execute, to implement the final decision to the member economies.
So how will this function?
I think that is a temporary arrangement because the appellate body is collapsed, no functioning anymore.
So to replace temporarily the appeal system.
However, only one third of the members of the WTO join such arrangement.
Arbitration clause is Article 25 of the WTO.
It's not speedy late.
They're clearly that to have the appeal function.
However, they are doing this is to take some temporal measures to cure the shortage of lacking the appellate body.
That was Zhang Ruijiao, the first Chinese member and chairman of the WTO Appellate Bodies.
Dispute Settlement Mechanism.
That's all the time for this edition of World Today.
I'm Ge'anna in Beijing.
Thank you so much for listening.
Bye for now.
