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This is the Beijing Hour.
Examining the events that impact and shape China and the rest of the world.
This is the Beijing Hour, one hour of news and information brought to you every weekday.
Now here's your host. Hello with you on this Thursday, July the 3rd, 2025.
You're listening to the Beijing Hour coming to you live from the Chinese capital on today's program.
Chinese Foreign Minister Wang Yi meets European Union leaders amid global tensions.
BRICS' economic boom is in the spotlight as the group prepares to convene its annual summit in Brazil.
And US contractors say their colleagues fired live ammunition as Palestinians seek food in Gaza.
In business, the Caixin composite PMI rebound in June driven by manufacturing recovery.
In sports, Liverpool forward Diogo Jota and his brother have died in a car crash.
In culture and entertainment, a special concert in Shanghai celebrating the China -France musical exchanges.
Now checking today's top stories.
China and the European Union are looking to ease tensions and strengthen ties as they prepare for a summit later this month.
Chinese Foreign Minister Wang Yi has met EU leaders in Brussels calling for dialogue over division.
Li Jianhua has more.
Chinese Foreign Minister Wang Yi met with key EU leaders in Brussels on Wednesday ahead of the upcoming China -EU summit later this month.
China's top envoy held talks with European Council President Antonio Costa, EU foreign policy chief Caya Callis and Belgian Deputy Prime Minister Maxime Prévost part of an effort to prepare for what could be a pivotal meeting amid rising geopolitical tensions.
Chief among Wednesday's meetings, Wan and Callis co -chair the 13th round of China -EU high -level strategic dialogue.
Callis, wisely seen as one of the EU's more hawkish voices on China, described the two sides as important economic partners but pointed to persistent issues around market access.
She also raised concerns over international conflicts, especially in Ukraine.
Kallis urged Beijing to play a more active role in ending the crisis, while also stressing that Europe needs, in her words, a dose of realism in its dealings with China.
Wang, for his part, says the focus of China -EU relations should be collaboration, not differences.
He called for both sides to manage disputes, strengthen understanding, and act as pillars of stability amid global geopolitical uncertainty.
He also stressed that the challenges in China -EU ties are not caused by China.
Earlier in the day, Wang met with European Council President Antonio Costa, the Chinese foreign minister warned against a rising unilateralism and what he called bullying in the international system, urging China and the EU as two major global powers to act as anchors of stability.
Costa echoes the need for mutual respects and said the EU is committed to working with China to address shared challenges and ensure the success of the upcoming summit.
The meetings come as both sides seek to ease tensions and address a list of long -standing friction points including EU tariffs on Chinese -made EVs, China's anti -dumping investigations into European pork and brandy and the Chinese export restrictions on rare earths.
That was Li Jianhua reporting.
Chinese Foreign Minister Wang Yi has also met European Commission President Ersal van der Leyen in Brussels.
The two sides expressed the willingness to deepen cooperation and jointly address global challenges.
This year marks the 50th anniversary of China -EU diplomatic relations.
Wang said China looks forward to working with the EU to summarize the valuable experience and important insights over the past 50 years and map out the future direction of dialogue and cooperation.
He said China is ready to work with the EU to deepen economic and trade cooperation and properly handle differences through consultation.
Ursula von der Leyen said the bloc is committed to developing stable and constructive ties with China and mutually beneficial economic and trade cooperation.
She said she looks forward to in -depth discussions with Chinese leaders on the issues of mutual concern.
Former Belgian Prime Minister Yves Leighton says China is a constructive partner and called for the European Union and China to work towards deepened cooperation.
Laitam said China is developing in a peaceful way and the idea of decoupling is in no one's interest. I don't agree with decoupling.
I think it's no interest of the population that we have different systems, information systems, and that we decouple.
If it would be possible, I don't think it's a positive development or positive objective to just decouple the economies.
Naitam also said the EU and China should move toward a more constructive agenda for their bilateral relationship.
In terms of economic relations, I think that the European Union currently is trying to put its axe together in how it should answer the challenge of a very fierce competition from high quality, underestimated products and services coming from China.
What I would hope is that we very rapidly now can go to a more constructive agenda for the EU -China relations, where we maybe try to see what should happen to protect investment mutually, reopen markets that have been closed, open new possibilities of economic exchange in terms of goods and services, tendering possibilities from both sides, participating in tenders for companies.
China and the EU are marking 50 years of diplomatic ties in 2025.
Data shows bilateral trade has expanded more than 320 -fold over the past five decades, now standing at around US $780 billion.
A former UN under -secretary -general says Europe should not regard China as a threat.
Pino Alachi warns that many European governments began to see China as a danger a few years ago.
European governments started to see China as a danger or as a threat just in the last few years, let's say less than 10 years.
Why? Because Chinese development, Chinese strength was so evident, and Europe was not able to catch up, not only Europe, but also the United States, that followed more or less the same pattern.
The United States was quite friendly with China.
Up to China became strong economically, industrially, much stronger than the United States and Europe.
He adds that Europe should adjust to the new situation where China is leading in the industrial and technological areas.
China is ahead of Europe, very much, in terms of years ahead.
Why? Because of some strange fact in the history?
No. China started to become this power in 2015, 2016.
in 2016. It's 10 years of development, investing heavily in high -tech artificial intelligence, renewable energies and so on.
So it's 10 years that China did the plan, the plan, also this is the main point, the capacity to plan the economy which in Europe does not exist because Because Europe is still a capitalist entity with no whatsoever capacity or plan.
China has no crisis in the economy, grows continuously.
We grow and then we stop, then we go back.
And there is a basic stagnation of the economy.
European economy does not go ahead.
And this is creating a huge imbalance in the trade.
China accumulated a huge advantage.
That is a considerable problem by the Europeans and by the Americans.
China's relationship with the EU has matured over the past five decades, developing into a comprehensive strategic partnership.
ownership. South Korean President Lee Jae -myung says his government will swiftly restore relations with China and Russia.
He made remarks while marking his first 30 days in office.
Lee addressed the key concerns of the public, including economic policies, trade issues and bilateral relations.
Shin Han reports from Seoul.
What was the earliest any South Korean president has held a formal press conference this early into their presidency.
The norm or tradition is for presidents to hold a 100 -day sort of press conference, but Lee Jae -myung deciding to hold his first press conference the first month of his term so as to show that his administration is very much for this sort of open communication and transparency.
It was a wide -ranging sort of press conference that went well over schedule.
It ranged topics from the economy to foreign policy, national security, some highlights of note as far as the economy is concerned.
The president called for bolder fiscal sort of moves by the government.
In fact, earlier this month, just about a couple of weeks into his presidency, his office was able to pass an extra budget bill worth $15 billion.
And the National Assembly is expected to vote on that very soon.
He also talked about some of his measures to help the livelihoods of the people in the form of vouchers, cash vouchers and other stimulus measures as well.
On a more sort of global implication note, he talked about the ongoing negotiations with the United States and tariffs and these trade issues are concerned.
He was careful not to affect the ongoing negotiations, but he was frank and honest to say that the talks were very difficult at this point.
In fact, he was unsure that a deadline or some sort of deal could be reached by next week, which is the deadline that this pause on reciprocal tariffs is due.
He also touched on the DPRK as well, saying that he was actually surprised that the DPRK responded to South Korea's move to halt these loudspeaker broadcasts at the border.
So he did say that he is for improved relations with the DPRK, with coordinations with the U .S., but he also called for improved relations with China and Russia as well.
So we got a little more insight into as far as a progress report into President Lee Jae -myung and his presidency.
That was Shin Han reporting.
Coming up, BRICS economic boom is in the spotlight as the group prepares to convene its annual summit in Brazil.
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The BRICS summit in Rio de Janeiro is just days away and the spotlight this year is on the bloc's economic boom.
The five original countries and the expanded members and partners will discuss key issues ranging from financing and technology to expanding membership.
Najma Abdi -Rizak has more on the bloc's expansion and its economic significance.
The countdown is on for the 17th BRICS summit as Brazil prepares for the midpoint of its presidency.
This year, the meeting in Rio de Janeiro is expected to set the stage for an expanded alliance.
The core members Brazil, Russia, India, China and South Africa will be shaping a bolder BRICS alongside six newcomers, Egypt, Ethiopia, Iran, the United Arab Emirates, Indonesia and Saudi Arabia.
Joining their fold but not as full members, nine nations, Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda and Uzbekistan, which have partner country status.
Together, the BRICS members represent a significant economic powerhouse with their economies growing visibly since the FAST summit in 2009.
They represent a significant share of the world's population, nearly half generating around 40 % of global GDP.
According to the World Economic Outlook report released in April by the International Monetary Fund, BRICS member countries are now projected to exceed the global economic growth average in 2025, reaching 3 .4 % in GDP growth against the world average of 2 .8%.
The report shows in 2024 alone, BRICS collectively reached 4 % of GDP growth, while global growth stood at 3 .3%.
The 11 -member bloc of emerging economies play an important role in global trade networks, networks, accounting for 24 percent of international trade.
BRICS Plus reached a major milestone ahead of the summit, their internal trade hitting the $1 trillion mark.
But as Brazilian President Luiz Inácio Lula da Silva prepares to host his BRICS counterparts, they have a daunting task ahead.
Their trade explosion and growing GDP facing tests from U .S. President Donald Trump's aggressive trade policies and global uncertainty i said we're going to put 100 tariff on every one of those nations all eyes now on rio de janeiro for bricks response and how the bloc's leaders plan to show a united front rio has indicated that its presidency will focus on two priorities global south cooperation and bricks partnerships for social economic and environmental development That was Najman Abdirizak reporting.
As BRICS leaders prepare to meet in Brazil, discussions over reforming the financial system and the idea of a common BRICS currency are back in focus.
For more, our reporter Xu Yaowen sat down with Paulo Nogueira Batista, former IMF executive director and vice president of the New Development Bank.
We know you used to work as the former IMF executive director and also the vice president of the New Development Bank.
What are your observations on the two institutions in their engagement with the developing countries, especially when we zoom into the NDB, the New Development Bank, how are the bank and also CRA, the BRICS Contingent Reserve Regiment, unlocking development potential and providing alternative to traditional Western dominated financial systems. In my time in the IMF as executive director for Brazil and other countries, I learned that the IMF is very difficult to reform.
We did make some progress in reform in the IMF, but fundamentally the institution remains a Western controlled institution that not always serves the needs of developing countries.
Often, they mistreat countries, especially those that are seen as being rivals or hostile to the West. So it is an uneven institution.
Now, one of the reasons why the BRICS, 10 years ago, established the NDB, the New Development Bank, and the Contingent Reserve Arrangement, is precisely the fact that we were, as a group, at the time we were only five countries.
As a group, we were dissatisfied with the way the existing Western -controlled institutions were working, the IMF and also the World Bank.
Now, we did an effort.
I participated in both institutions in the creation of the CRA, and I was one of the founding members of the NDB.
Our intention was exactly that, to create alternatives to the existing Western -dominated system.
We have made progress in the NDB, but we are still far from achieving our initial goal of having a global bank that can play a global role for the developing countries.
As for the CRA, their progress has been very little because our central banks have basically frozen the CRA, the contingency of arrangement.
And we need to unblock it to make it effective if we are serious about building an alternative to the IMF.
What are the prospects and challenges so far of establishing this BRICS currency, and how would it impact the global financial system?
Look, the BRICS currency issue is one of the fundamental issues before the group.
If we do manage to create a common reserve currency, this will have a major impact on the international scene.
Now the international monetary system is dominated by the dollar, And the dollar has created many problems for many countries.
So, countries want to seek alternatives.
Let me just clarify briefly, there's a lot of confusion about this issue.
Many people think that the BRICS would try to create a unified currency with a common central bank like the Euro in Europe.
No, it's not that. If we do reach this point, we will create a common reserve currency for international national payments, only for international payments that would circulate alongside our national currencies and our central bank would continue to function as they do.
That was Paulo Nogueira Batista, former IMF Executive Director and NDB Vice President.
Chinese electric vehicle maker BYD has taken another big move in Latin America.
The company unveiled its first Brazilian -made cars on Tuesday.
It marks a milestone for Brazil's auto industry and for BYD's regional expansion.
Paolo Cabral has more from Sao Paulo.
These are the first BYD electric cars to roll out of their new plant in Brazil.
For now, the company's vehicles still arrive mostly assembled from China and are finished here.
But BYD says the plan is to steadily increase local production and parts sourcing over time.
We are working closely with the local authorities, industry, and help them to get updated technologies.
And we are in the process to qualify more than 150 local vendors to be our suppliers.
The governor of Bahia says he hopes this investment will help modernize his state and bring opportunities to its people.
The expectation is that we will create in Bahia an environment of science, technology and innovation and prepare our workforce for that.
This is very significant.
It's a milestone in the strong relations that Brazil has been building with China and with Chinese business.
The new assembly line started with the Dolphin Mini, BYD's best -selling urban EV, but will soon expand to include the Song Pro and BYD King.
The company says all these vehicles will move into commercial production in the coming weeks.
Brazil is a key market in BYD's plans for global expansion, but the new plan the Chinese company is opening in northeastern Brazil is designed to do more than serve local customers.
The strategic goal is to transform Brazil into a hub for exporting electric vehicles throughout Latin America.
BYD's president in Brazil says the company is adapting its strategy to local and regional needs.
So we will produce a vehicle here to export to another country.
And also like some models, we will like special design here in Bahia and to cover this like a full special segment for example like a pickup market construction began in March 2024 after view ID acquired a site once used by us automaker Ford the plant launched with capacity to make 150 thousand vehicles per year with plants to double that in a second phase it's very important to have a local production to can compete in in a in a Brazilian market to have have a big volume, and this facility will deliver this volume with a competitive price to be sold.
It's an industrial milestone that could put Brazilian -built electric cars on roads across Latin America and shows how Chinese investment is helping drive the region's shift toward cleaner transport.
Now with Paulo Cabral reporting.
Coming up, U .S. contractors say their colleagues fired live ammunition as Palestinians seek food in Gaza.
from nickel rich rainforests to battery plants on the rise indonesia is teaming up with china to chase the ev prize a massive battery project in the southeast asian country promises new jobs growth and green power but there are also doubts and questions is it a clean energy lead or a high voltage gamble with big hopes how could this shape asia's green future find out on this week's chat Now it's 22 minutes past the hour.
At least four people are dead and dozens missing after a ferry carrying 65 people capsized near Bali.
More than 30 survivors have been rescued.
Indonesian President Prabowo Subianto has ordered the National Search and Rescue Agency to action.
Authorities say strong winds, large waves and powerful currents are hampering rescue efforts.
The Associated Press reports that U .S. contractors say their colleagues are firing live ammunition on Palestinians seeking food at aid distribution sites.
The Gaza Humanitarian Foundation is a U .S. and Israel -backed organization providing food in Gaza.
Palestinians say the food distribution centers have become death traps.
Julia Frankel with the Associated Press has more.
testimonies and videos obtained by the Associated Press show American contractors guarding aid distribution sites inside Gaza are using live ammunition and stun grenades as hungry Palestinians scramble for food two US contractors who spoke to us on the condition of anonymity because they were revealing their employers internal operations said they were coming out because they were disturbed by what they saw as dangerous and irresponsible practices both have extensive military experience they say the security staff on -site were often unqualified, unvetted, and had an open license to do whatever
they wished. The AP also had the videos analyzed by two audio forensic experts who say they could identify live ammunition, including machine gunfire, coming from the sites, in most cases within 50 to 60 meters of the camera's microphone.
In another video, what appear to be heavily armed American security contractors at one of the sites discuss how to disperse Palestinians nearby.
One is heard saying he has arranged for a show of force by Israeli tanks.
I don't want this to be too aggressive, he says.
At that moment, bursts of gunfire erupt close by.
At least 15 shots. One says, I think you hit one.
Then one shouts, hell yeah, boy.
The camera's view is obscured by a large dirt mound.
The contractor who took the video told AP that he saw other contractors shooting in the direction of Palestinians who had just collected their food and were departing.
Now was Julia Frankel reporting.
A new round of Israeli airstrikes has killed 40 more people in Gaza.
Local health authorities say the deaths include the director of the Indonesian hospital, one of the largest medical institutions in the Strip.
The strikes hit the director's apartment in the Gaza city, killing at least three of his family members.
Rami Almagari has more from Gaza.
More Israeli, deadly Israeli attacks or operations against the Gaza Strip All over the parts of the Gaza Strip, multiple airstrikes hit the Khan Yunis area to the south of the Gaza Strip, including orphans sheltered camps, also a family displaced family to the Mawasi area to the west of Khan Yunis was hit claiming the lives of six family members from the same family.
Other strikes hit the Zaytoun neighborhood in the eastern Gaza City where Israeli army operations have been intensified over the eastern parts of Gaza as well as the northern parts of the Gaza Strip.
This paramount military pressure by the Israeli government comes, or by the Israeli army comes against the backdrop of some talks about a possible ceasefire in the upcoming days.
President Trump has made many promises and every one of them has failed.
Much of our hope has been in vain, now our only hope is in God.
may he put an end to this war.
This war is despicable.
Every time they say the war is ending, more of us are killed.
We lose more of our loved ones.
They mock us when they say the war will be over.
If they truly wanted to end it, they would have done so long ago.
But this war will not end.
The war will end us.
That was a report on the latest Israeli airstrikes in Gaza.
U .S. President Donald Trump says Israel has agreed on terms for a new 60 -day ceasefire with Hamas.
Neither Israel nor Hamas has accepted the U .S. proposal Trump announced on Tuesday.
It remains unclear what conditions Israel has agreed to.
Prime Minister Benjamin Netanyahu has reiterated plans to destroy Hamas.
He will meet Trump at the White House next week.
Trump says Washington will work with both sides for a ceasefire to end the conflict in Gaza.
U .S. House Republicans remain deadlocked over President Donald Trump's massive tax and spending bill with hotliners objecting to its potential $3 .4 trillion U .S. dollar cost and medical aid cuts.
House Speaker Mike Johnson and Trump have tried to persuade holdouts delaying a procedural vote.
Trump has been pushing to get the bill passed before Friday.
food banks across the united states are warning about president donald trump's so -called big beautiful bill the bill boosts military and immigration funding but cuts nearly 300 billion dollars from the supplemental nutrition assistance program the move could impact millions of americans who rely on food assistance tennys crosby is executive director of san francisco Marring Food Bank.
She says it will cause a huge wave of new hunger and poverty.
This gutting of SNAP, this gutting of America's most effective anti -poverty, anti -hunger tool, it's going to mean an increase in need and it's going to be a tsunami of need and food banks are not set up.
We project that there will be about 25 ,000 more households just just in San Francisco Marin, that are imminent risk of losing SNAP benefits as a direct result of this bill, and that doesn't account for any additional Medicaid cuts.
So we're extremely concerned about the impacts of this legislation.
Food banks and health experts say these cuts will hurt struggling families, local schools and public health.
Food security advocates are urging lawmakers to amend or delay the bill to protect users of the nutrition assistance program.
They They argue that cutting food aid harms both people and the economy.
It's 29 minutes past the hour, checking the forecast for the day.
Beijing is down to 25 on Thursday evening.
Friday we'll see sounder showers with a high of 34.
Nanchang is 30 tonight, tomorrow sunny and 39.
In Gansu province, Longnan city is 21 tonight, Friday will have moderate rain with a high of 27.
Chengdu is 23 tonight, tomorrow heavy rain and 31.
In Guizhou province, Rongjiang County is 24 tonight, tomorrow sunny and 36 degrees Celsius.
Elsewhere in Asia, Islamabad is 26 tonight, then slight rain and 34 degrees Celsius.
Now it's time for a short break.
So far this hour, Chinese Foreign Minister Wang Yi meets European Union leaders amid global tensions.
But economic boom is in the spotlight as the group prepares to convene its annual summit in Brazil.
Tianlu with you, stay with us here on the Beijing Hour.
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From the silent strength of mountains to the icy whispers of glaciers even the solid ground beneath our feet and 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?
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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. Tianlu with you on this Thursday.
Still to come, in business, the Caixin composite PMI rebounds in June, driven by manufacturing recovery.
In sports, Liverpool forward Diogo Rota and his brother have died in a car crash.
In culture and entertainment, a special concert in Shanghai celebrating the China -France musical exchanges.
dangers. To contact us, you can email radio at cgtn .com or follow our ex -account at cgtnradio.
But first, check in today's headline news.
Chinese Foreign Minister Wang Yi has called for dialogue over division in his meetings with EU leaders in Brussels.
He held talks with European Council President Antonio Costa and European Commission President Esselstyn.
He also co -chaired a high -level strategic dialogue with EU foreign policy chief Kaya callous.
The senior Chinese diplomat said he hopes the European Union will pursue a more proactive and pragmatic policy toward China.
Wang urged the two sides to enhance understanding and safeguard the post -war international order.
South Korean President Lee Jae -min says his administration will work to swiftly restore relations with China and Russia.
He made remarks while marking the first 30 days in office.
Lee said it remained unclear whether whether South Korea and the U .S. could conclude their tariff negotiations by the deadline set by President Donald Trump next week.
He said they are doing their best to reach an agreement.
He also said his administration will resume severed communication with North Korea.
China will hold an evening gala on September 3rd in Beijing to mark the 80th anniversary of the victory in the Chinese People's War of Resistance against Japanese aggression and the World Anti -Fascist War.
The country designated September 3 as Victory Day to mark the signing of the Japanese Instrument of Surrender on September 2, 1945.
Officials say China will open a themed exhibition on Monday and soon release a series of TV dramas, documentaries and short dramas to mark the anniversary.
Artists will present performances featuring outstanding stage works on the theme from August to October.
A fleet of the Chinese Navy led by the aircraft carrier Shandong has arrived in the Hong Kong Special Administrative Region.
The fleet also includes the Yan 'an and Zanjiang missile destroyers as well as the Yuncheng missile frigate.
It will host a series of open tours and cultural exchange activities in a five -day visit starting Thursday.
At least four people are dead and dozens missing after a ferry carrying 65 people capsized near Bali.
More than 30 survivors have been rescued.
Indonesian President Prabowo Subianto has ordered the National Search and Rescue Agency to action.
Authorities say strong winds, large waves and powerful currents are hampering rescue efforts.
A senior UN official says Haiti continues to witness a sharp erosion of state authority and the rule of law.
Assistant Secretary -General Miroslav Janka told the Security Council that gang violence is affecting every aspect of public and private life.
Gangs now control most of Port -au -Prince, paralysing the capital city.
I was struck by the profound transformation of Port -au -Prince.
The capital city was for all intents and purposes paralysed by gangs and isolated as a result of the ongoing suspension of international commercial flights into the Toussaint Louverture International Airport.
Since then, gangs have only strengthened their foothold, which now affects all communes of the Port -au -Prince metropolitan area and beyond, pushing the situation closer to the brink.
He also said political divisions risk delaying elections by the 2026 deadline.
The Multinational Security Support Mission and the Haitian police have been struggling to restore order without more international help.
Ghada Fasi -Wele is executive director of the UN Office on Drugs and Crime.
She warned gangs dominate trade routes, crippling the economy.
In the vacuum left by the absence or limited delivery of public services, criminal groups are stepping in.
They are establishing parallel governance structure and providing rudimentary public services.
This erosion of state legitimacy has cascading effects.
With gangs controlling major trade routes, legal commerce is paralysed.
Container traffic at the Port -au -Prince terminal has plumped, choking off supply chains and crippling the economy.
Haiti and the Dominican Republic are calling for stronger UN support for the multinational security support mission.
Kenya has urged more funding for the mission's air, sea and base needs.
Coming up in business, the Caixin composite PMI rebounds in June, driven by manufacturing recovery.
The Beijing Hour, your window on China and the rest of the world.
Now it's 36 minutes past 8 hour turning to business.
Stock markets on the Chinese mainland closed higher on Thursday.
The Shanghai composite gained nearly two -tenths of a percent.
The Shenzhen component was up almost 1 .2 percent.
The consumer electronics and battery shares led the gainers.
The Hong Kong stock market ended lower.
The Hong Son index decreased over 0 .6 % in Japan.
The Nikkei almost remained flat.
The latest Caixin survey shows the Services Purchasing Managers Index came in at 50 .6 % in June, down from 51 .1 % in May.
Despite the decline, the figure stayed above the 50 -point threshold for 30 months, indicating growth.
Softer new orders caused a slowdown, including a drop in export businesses.
Service sector firms still maintain cautious optimism about future growth as confidence levels rose for two consecutive months.
Meanwhile, the overall Caixin composite PMI gained 1 .7 points to 51 .3, lifted by the recovering manufacturing sector.
For more, Michael Wang spoke with Shi Fanqi, assistant professor at Peking University.
Even though Caixin Services PMI was in expansion territory for a 30th straight month, we did see foreign demand was relatively weak.
The question is, are exports being impacted more by trade uncertainty or weak global economy?
And how do you see policymakers and Chinese businesses dealing with these external uncertainties?
So from my perspective, the dominant factor is the weak global demand.
But definitely this issue is compounded by the policy uncertainty.
So on one hand, we see that indeed at this moment we have weak global demand.
For example, we see that especially our major trading partners like the U .S. and the U .K., they are experiencing some kind of sluggish markets.
The recent data, like the data that just came out yesterday, showed that the U .S. private employees actually cut 33 ,000 jobs in June.
So we do see that they are having a sluggish market.
On the other hand, this trade uncertainty is also a major issue.
And that actually has something is interconnected with why they have this kind of selective markets.
So despite a framework of tariffs between the US and China, we see that exporters remain cautious.
And the data reveals that new service and manufacturing exports actually are contracting in acting at the fastest pace since late 2022.
That is at the end of the COVID period.
So, with respect to how policymakers and businesses are responding, so first of all we have to admit that whatever they do, they have to face this issue head -on and there is likely to be a very difficult time ahead.
But what at the moment the policymakers are doing in three sense.
First, they are negotiating deals.
Basically, they have negotiated with some kind of deals with the u .s and also they are diversifying their trade part the trade partners and also they're implementing policies to support domestic men whereas for businesses uh first of all they're also trading trying to shift their production overseas to overcome some of these tariffs and also they again expanding their markets especially a lot of those on the coast of cities and then the third thing that we noticed that this is a time because they know the demand is weak so So in order to be more cost effective, they're introducing some kind of new
technologies like AI and robotics to improve the production technologies.
That was Assistant Professor Shi Fanqi at Peking University talking about the latest PMI figures.
Local authorities across China rolling out a mix of cultural and tourism experiences this summer with more than 4 ,300 major events and nearly 39 ,000 activities.
It's part of the 2025 National Summer Cultural and Tourism Consumption Season.
A series of public -friendly initiatives are on offer, ranging from discount tickets and special deals to over 570 million yuan, or around US $80 million, in consumption subsidies.
Meanwhile, China's railway network is gearing up for a record summer travel rush.
Passenger trips are expected to exceed 950 million up 5 .8 % from last year.
This year's rush will last around 62 days running from July 1 to August 31.
The 2025 Global Digital Economy Conference is underway in Beijing with entrepreneurs, officials and scholars focusing on building digitally friendly cities.
Over 40 professional forums on artificial intelligence, digital security and digital medical services are taking place during the four -day event.
The conference will witness the start of multiple projects.
They include the inauguration of a sustainable digital economy innovation lab by the United Nations Development Programme and a global city alliance headquartered in Beijing which focuses on enhancing the digital economy.
Interactive events are scheduled to allow participants to sample wearable devices, businesses, meta technologies and AI -driven creative cultural programmes.
Industry data shows China's warehouse storage sector registered active business activities in June remaining in the expansion zone for the 8th consecutive month.
According to the China Federation of Logistics and Purchasing, the Warehousing Index gained half a point from May to reach 51.
The sub -indices tracking new orders, average inventory turnover and business profits all rebounded last month.
The new orders index climbed to 51 .6 up 0 .7 points from the previous month, indicating a strong demand for warehousing services.
Demand related to consumer goods was especially strong, with significant increases in the new orders index for food, home appliances and agricultural products.
Driven by increasing demand, business profits of enterprises in the sector also rebounded in June The relevant index returned to the expansion range following a five -month period of contraction The private sector hiring in the United States contracted in June Data from payroll processing firm ADP raises questions on whether the U .S. economy is showing further signs of cracking Karina Mitchell reports from New York Well, it was a big week for payrolls in the U .S., starting with private hiring data that we got for June from ADP in the Wednesday session and a significant pullback, 33 ,000 jobs lost
in the month of June.
That is the first time we've seen a contraction since March of 2023.
And it's well off the estimate that was expected to see 100 ,000 jobs gained.
So what is going on here?
Well, specifically, we're seeing that it's not so much that bosses are laying off workers as much as they're just not hiring and they're holding off on picking up and hiring for positions that are vacant.
And the biggest losses that we saw came in professional services, also in the health care field and education.
Now, staying on jobs, let's look at Microsoft, because it just announced it's cutting 9 ,000 positions.
That's less than 4 % of its global workforce.
force. It's cutting across divisions, but it comes in the back of earlier cuts this year, back in January and then in May, when it slashed 6 ,000 jobs and then a few hundred jobs in June.
The move comes as it kicks off its 2026 fiscal year.
The company says it's trying to trim unnecessarily layers of middle management.
And then there was bad news for Tesla on its Its deliveries, it reported a drop of 14 % in second quarter deliveries with just 384 ,000 vehicles delivered.
It marks a second consecutive quarterly drop.
First quarter deliveries were down by about 13%.
Look, Tesla is facing really tough competition from Chinese EV makers like BYD and now Xiaomi as well.
They just tend to produce cars that are cheaper and they come with lots of bells and whistles, both at the high end of the market and the lower end of the market as well.
So let's see how global markets fared on all of this.
Let's look at Wall Street and see how they did.
Investors considering that jobs data very closely.
And also a report that Vietnam and the U .S. have struck a trade deal where imports from Vietnam will be levied at 20 % and transshipments through Vietnam at 40%.
That was great news for Nike, which produces about half of its shoes in Vietnam.
On the day, the Dow trading at the flat line, the Nasdaq the big winner up by almost 1 % and the S &P hitting a new record up by about half a percent.
The 12th meeting of the Shanghai Cooperation Organization Ministers of Transport has taken place in Tianjin.
Participants had in -depth exchanges on promoting the construction of international transport corridors and facilitating international transportation.
They also had discussions on accelerating cooperation on projects such as the China -Europe Railway Express and implementing electronic permits for international road transport.
Transport officials of the SCO member states signed a Memorandum of Understanding on the Joint Construction of Silk Road Stations.
The initiative addresses critical infrastructure gaps along rapidly expanding trade corridors.
The Chinese Ministry of Transport says the Silk Road stations can provide rest areas for international truck drivers.
Coming up in sports, Liverpool forward Diogo Rota and his brother have died in a car crash.
Chaos and the FIFA Club World Cup.
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Arquilat knocked out Man City.
Fluminense eliminated Inter.
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Now it's 47 minutes past 8 hour.
Turning to sports, here's Yang Guang.
Thank you, Tianlu. Tragic news from Spain.
Liverpool forward Diogo Jota and his brother Andrea have died in a car accident near the city of Zamora.
Local media say the 28 -year -old Portuguese international was travelling along the A52 motorway when their sports car veered off the road and burst into flames, killing both occupants and the scene.
The football world is in shock as tributes pour in for Jota, known for his skill, determination and key role at both Liverpool and Portuguese national team.
Jota, who got married just days ago, helped Liverpool win the Premier League last season.
He also helped Portugal win the UEFA Nations League title in his last match. The UEFA Nations Women's European Championship kicked off in Switzerland on Wednesday with drama right from the opening match. In front of a home crowd in Basel, Switzerland took the lead through Nadia Ries in the 28th minute.
But it was Norway who walked away with the points, turning the game around with two goals in quick succession early in the second half.
Former Ballon d 'Or winner Arne Hekberg equalized in the 54th minute before a Swiss own goal gave Norway the lead.
Hekberg later missed a penalty but a potential Swiss equalizer from the spot was overturned by VAR.
Norway coach Gemma Granger accredited her team for adjusting at half -time.
I could summarise it.
Switzerland started the game better than us.
This was a big occasion for them.
I have a huge respect for Switzerland.
They're a very good team.
Was I surprised with the first half?
No. At half -time we talked about what we needed to do better.
It was a strong talk at half -time.
We have high standards in this team.
We changed something tactically because we wanted to change the way we felt we could exploit Switzerland.
We did that and that's all credit to the players.
In the other Group A match, Finland shocked Iceland 1 -0 in turn marking a major upset with the lowest ranked team beating the highest. After they won, Norway tops the group on goal scored.
Turning to tennis, Arena Sabalenka battled to a 7 -6, 6 -4 win against Maribor's Kovac and advanced to the last 32 as the women's top seed continues her bid for a first Wimbledon title.
She will next take on home favorite Emma Raducanu who took down the 2023 champion Marchetto Von Drozdsewa, 6 -3, 6 -3.
I mean, Emma is playing much better tennis since last year, I have to say.
So she improved and you can see that she's getting back on track and also facing British Wimbledon.
I'm not sure I prefer that, but she's playing great tennis.
Meantime, Australian Open champion Madison Keyes also made it safely into round three beating Orga Danilovich 6 -4 6 -2.
On the men's side, Carlos Alcres crushed the world's number 733 only to tarnish hopes of a fairytale victory to reach the third round with a straight sets victory.
For me, it is not about winning or losing or I'm trying not to be focused on the winning and the losing.
It's just about to have fun playing tennis, Chinese are fine, you know, stepping on the court and not thinking about the result is just living the moment.
In other action, both No. 12 Francis Thiafoe became the 14th of the 32 men's seats to depart going down in four sets to Cameron Lowry.
Andrei Rublev had no easy ride as he fought past Lauret Harris in four sets.
At FIBA U -19 Basketball World Cup in Lausanne, New Zealand has made history by reaching the quarterfinals for the first time defeating Team China 99 -86.
New Zealand is making its fourth appearance in the Global Junior Tournament with their best result in 2017, finishing 11th.
Host Switzerland also advanced to the quarterfinals in their first ever appearance at the tournament after upsetting powerhouse France 86 -79 in overtime.
time. France was considered one of the top favourites this year.
Switzerland will next face New Zealand in the quarters.
And finally, multiple media reports say the Los Angeles Lakers and DeAndre Ayton agreed on terms on Wednesday after the centre cleared waivers and became an unrestricted free agent.
Ayton made headlines in recent days after he and his most recent team, the Portland Trailblazers, mutually agreed to forego the final year of his contract and negotiate a buyout, allowing him to reach free agency.
According to ESPN, between money owed to him by Portland and his new deal with Los Angeles, Ayton is set to earn $34 million this season.
The 26 -year -old has been a seven -year pro with 398 NBA games on his resume.
A former No. 1 overall pick in the 2018 NBA draft by the Phoenix sons.
Eitan has averaged 16 .4 points, 10 .5 rebounds and one block per game.
Thank you very much. That was Yang Guang with sports.
Just ahead in culture and entertainment, a special concert in Shanghai celebrating the China -France musical exchanges.
From north to south, east to west, people in China are chasing their dreams and leaving their mark.
Want to know how they beat the odds and make a difference?
Footprints brings you the true life stories of their journeys.
It's 52 minutes past the hour, turning to culture and entertainment.
2025 heralds a new chapter in China -France cultural ties with deepening exchanges.
Together, Shanghai and Paris have hosted a special concert to celebrate the musical exchanges between the two countries.
Biren has more. Shanghai and Paris are once again brought together in the name of art co -hosting a classic music concert to celebrate the friendship between China and France the event was also held to celebrate the 140th anniversary of summer the iconic woodwind and brass instrument who witnessed the glory of French music.
2024 marks 60 years of China -France diplomatic ties, with over 900 French cultural events held across China.
This enduring cultural dialogue remains a key driver of bilateral relations.
Looking ahead, 2025 will open a new chapter of deeper, broader, and richer cooperation.
The concert featured a bunch of classic French sounds from the 1930s to 1960s, alongside a Chinese music section where saxophone artists performed spring dance and jasmine flower.
Chinese market is developing really fast for amateur and jazz player and retired people.
More than classical musicians we need to develop the product and the contact, the link with all the amateur people.
Guests discuss the development of orchestral music in both China and France and share their insights on arts education.
I am very happy to play French music here in this part of France in Shanghai but also to hear the Chinese music played by Chinese musicians is very important.
Meanwhile, Montmartre, Selmer's birthplace in France, hosted a grand music festival where saxophonists from around the world gathered to honor the classics.
Chinese and French musicians bring unique interpretations to each other's classics.
At the Council noted, 2025 marks a new 60 -year circle of China -France relations with more collaboration ahead in the economy, culture and education.
That was Biren reporting.
The 7th China Xinjiang International Dance Festival will open in Wumuchi on July 20, featuring 52 performances by 24 art groups from China and abroad.
Renowned companies from 8 countries including Kazakhstan, the United States and Italy will take part.
Audiences can expect a rich mix of genres, from dance dramas and ethnic operas to ballet, musicals and modern dance.
While the main stage is in the regional capital, the festival will also reach audiences in six other cities across Xinjiang.
Launched in 2008, the festival is China's first major international arts event focused on dance.
It has welcomed over 138 art groups from around the world, making it a key platform for cultural exchange under the Belt and Road Initiative.
This year's edition coincides with the 70th anniversary of the founding of the Xinjiang Uyghur Autonomous Region.
Peruvian officials are warning that the country's iconic Incan citadel, Machu Picchu, is facing structural damage and ecological imbalance due to excessive tourism.
The UNESCO World Heritage Site is a symbol of Peru's cultural heritage and attracts huge numbers of global travellers.
Recent findings from the National Audit Office have raised alarms over the future of the 15th century ruin, warning that if growing threats go unchecked, Machu Picchu could be added to UNESCO's list of World Heritage in Danger.
The Ministry of Culture has capped daily visitors at 4 ,500, with a seasonal increase to 5 ,600 during peak travel periods, even though demand often outstrips supply.
Despite such protective efforts, officials say high tourism levels could pose long -term risks to the site's preservation if not properly managed.
heavy rain and 31. In Guizhou province, Rongjiang County is 24 tonight, tomorrow will be sunny with a high of 36 degrees Celsius.
Elsewhere in Asia, Islamabad is 26 tonight, Friday, slight rain and 34 degrees Celsius.
That's it for this edition of the Beijing Hour Making News today.
Chinese Foreign Minister Wang Yi meets European Union leaders amid global tensions.
BRICS economic boom is in the spotlight as the group prepares to convene its annual summit in Brazil.
On behalf of the staff, this is Tian Liu in the Chinese capital, hoping you'll join us for the next edition of The Beijing Hour and open the window to the world together.
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Can't live without the Yellow River in his eyes.
The Yellow River is so noble and elegant.
Both my grandpa and dad made the living from the river.
Would you like to move away from the Yellow River?
I don't think I will.
I love it so much. The Yellow River, The second -longest river in China is regarded as a shaping force in the history, economy and culture of northern China.
Today, about 100 million people live within its water basin, making up nearly 9 % of the country's population.
How is climate change felt at its headwaters?
And what are the locals doing to cope with it?
What are the descendants of the boatmen doing?
What has kept some people from leaving their home village by the river and what has drawn others back.
Could the fading fishing community revive in a time of digital transformation?
From 2021 to 2024, our reporters visited the upper, middle and lower reaches of the Yellow River, talked to the herders, farmers, boatmen, fishermen and eco -activists who share a close bond with the river, and present their stories in pictures, podcasts and videos.
All in our 12 -part series, The Yellow River Mosaic, available only on CGTN Radio.
