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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. Shane Bigham with you on this Wednesday, June 25th, 2025.
You're listening to the Beijing Hour, coming to you live from the Chinese capital.
On today's program, the Chinese premiers told the summer Davos meeting in Tianjin that China will continue to foster a first -class business environment.
Iran's parliament has approved a bill to suspend cooperation with the International Atomic Energy Agency.
And Gaza officials say Israeli forces killed more than 50 people waiting for food aid on Tuesday.
In business, China is emerging as a driver of the clean energy transition.
In sports, wrapping up the group stage at the Club World Cup.
In culture and entertainment, Italian media will air a cultural documentary from China Media Group.
Now checking the day's top stories.
Chinese Premier Li Cheng says the country will continue to foster a first -class business environment and keep the doors wide open.
He made the remarks when addressing the opening of the 16th annual meeting of the new champions, also known as the Summer Davos in Tianjin.
The event's theme is entrepreneurship for a new era.
Premier Li said China will continue to deepen its integration and connectivity with the world market and welcome businesses from all countries to invest and deepen their roots in China.
Liu Jiaxin has more from the northern Chinese city.
During the opening plenary of the Summer Devils in Tianjin, Chinese Premier Li Chang delivers an inspiring speech also addressing critical challenges right now.
He said global economy now sits at the pivotal crossroads with geopolitical fractures disrupting global supply chains and technology revolution now ray -shaping economic structures.
While confronted with global challenges, do we choose conflict or cooperation?
Well, here's the Chinese solution offered by Premier Li.
He said China will make the pie bigger through openness.
He said that with the rise of the global south, now driving 45 % of the world trade versus 30 % in 2000, China is seeking more win -win cooperation while pledges to open the door wider to the rest of the world.
The new era requires entrepreneurs to play bigger roles, assume greater responsibilities and add new dimensions to entrepreneurship.
I encourage you to do more for the greater good.
I hope you will always follow the laws of the market, do what is right, champion openness and cooperation, uphold economic globalization, oppose decoupling and serving of supply chains, and call on all sides now to turn trade into a political or security issue.
I encourage you to do more for win -win results.
results. I wish you will embrace each other's development with an open and inclusive mind.
Share resources, draw on each other's strengths, promote market integration and mutual empowerment, and achieve common growth." He also highlights that China maintains a steady growth, regardless of external force, external uncertainties and China can be a stabilizer of global economy by being an engine that drives that drives 30 % of the global growth.
That was Leo Jiaxin reporting.
As global leaders gather in Tianjin for this year's Summer Davos, one of the focuses is on resilience and innovation in a time of uncertainty.
Tianlu spoke to Botri Cycling CEO Lin Xiao to explore how Chinese businesses are reshaping supply chains through green technologies.
From your experience, how can emerging industries such as green tech protect, help businesses enhance both resilience and global relevance?
Yes, so this is because this is a reshaping global supply chain.
Of course, they will get more involved for different new countries, African countries, Southeast Asian countries and also South American countries.
So, more of the economy will be localisation because before that some of the countries they even did not have the million dollar and also resources for export.
now they already got it for that we were helping them to build up that's a local manufacturing and based on the local resource and all this one will be also involved more technology so like we already have some of the case in the south american so they are not very strong infrastructure for the great electricity so it's not existing before so now they are building for the solar solar panel, and they get energy storage battery.
So they will get micro grids.
So they will operate for the electricity beyond for the existing grids in their own country.
And for supporting more mining, they can go for greener and sustainable.
And we'll get the mines to support the back doors for that batteries.
So this is a very good example where we can support local economy and also making them for them to build in for the global supply chain.
And with China promoting high quality development and technological upgrading, what role can Chinese entrepreneurs play in contributing to global economic stability and shared growth?
Yes. So we already discussed in some of the emerging markets, emerging technologies, Chinese companies are already leading the world, So, especially in the manufacturing, and also how to design products, now we need to take more responsibility, not only for the manufacturing of product.
We mentioned this is a global supply chain, it's a global market, and of course, they will take more global responsibility for the whole supply chain.
I think we need not only to focus on some of the fields we are already good at, and we need to understand and to know other countries' demands, and we share our innovation, share our knowledge, and take responsibility for helping hold the supply chain to be more green and sustainable.
That was Botri Cycling CEO Lin Xiao talking about how Chinese businesses are reshaping supply chains through green technologies.
Our recent tensions in the Middle East have prompted discussions around energy markets and geopolitical risk at this year's Summer Davos Forum in Tianjin.
Dai Kaiyi has more.
Here at Summer Devils in Tianjin, tensions in the Middle East have raised serious concerns.
Many are contemplating what this could mean for global energy markets and overall stability.
Yes, it's very concerning right now.
Well, the situation in the Middle East is very volatile.
It's been volatile for my entire lifetime, really.
The truth is that there's no benefits in war, right?
If we think about the fears and the tension, I mean, absolutely real.
We're seeing that every day.
Those fears are already rippling through the global economy.
economy, flights disrupted, oil prices on edge, and the sense of uncertainty has been rising, reminding us just how fragile supply chains remain.
Right now the geopolitical situation is relatively, seems to be relatively under control.
There's always the prospect for an eruption.
Well, the energy market obviously is disrupted by any conflict in the Middle East. Specifically the hydrocarbons market will be calmed to the extent that the political and geopolitical situation in the region is calmed.
For many business leaders, diversifying sources and building resilience are now top of mind.
I think diversification of energy sources is really important.
Continued investment, especially into places like Southeast Asia, where we are still heavily reliant on coal.
So I think diversification into renewables and other sources of energy is super important.
So if there's any way we could come together, sit on a table and bring peace, I think that would be what I would look forward to.
And I pray and hope that the leaders that are involved are able to come together and find a way around this.
I think over the next few years we will see a reorientation of a lot of the political relations within the region and economic relations as well working themselves out.
It's hard to say exactly how that happens, but my hope would be that this eruption of conflict is a limited series of events that can be contained and that the region can move forward towards some more lasting peace and prosperity.
The conflict may be thousands of miles away, but its implications can be far -reaching.
In a multipolar world, volatility travels fast, and few can afford to look away.
That was Dai Kai reporting.
Coming up, Iran might suspend its cooperation with the U .N. nuclear watchdog.
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The Iranian parliament has approved a bill to suspend cooperation with the International Atomic Energy Agency.
The Supreme National Security Council needs to give its approval to finalize the move.
The move came after President Mazub Pazeshkin announced the end of the 12 -day war with Israel and urged all government bodies and institutions to focus on reconstruction.
The president said attempts to destroy nuclear facilities had failed.
He said Iran will respect the ceasefire if Israel does and that his country is ready to return to nuclear talks with the United States.
Both countries have confirmed the start of the truce.
Some Iranian people have voiced relief at the ceasefire but remain fearful about the future.
Ehsan Kevani has more from Yazd.
A ceasefire ending 12 days of intense fighting between Iran and Israel took effect early Tuesday morning.
The truce brought halt to hostilities that persisted until the final moments, with both sides launching significant attacks just before 4 a .m. local time deadline.
Intense fighting continued through Monday, including an Iranian strike on U .S. military base in Qatar late that day.
This attack spurred rapid diplomatic efforts involving Iran, Qatar, Israel, and the U .S., ultimately leading to the ceasefire agreement.
In the hours leading up to the deadline, Israeli drone strikes targeted locations across Iran, including parts of the capital Tehran and northern and western regions.
Two Iranian nuclear scientists were killed on the conflict's final day.
Only minutes before the deadline, Iran launched ballistic missiles at southern Israel, marking a final exchange in this round of hostilities.
Following the truth, Iranian Foreign Minister Abbas Arafat said on his ex -account that Iran has no intention to continue its response if Israel ceases its aggression.
Just hours after the ceasefire began, Israel accused Iran of violating the truce and threatened retaliatory strikes against Tehran.
This accusation casts immediate doubt on the ceasefire's durability.
We Iranians have a magnificent history.
We don't bow to oppressors.
We will stand against them until our last breath.
I believe the blows that Israel and the United States have suffered will lead them to seek retaliation, and they are likely to attack again.
We would welcome a ceasefire, but it is not being implemented.
They are not honoring their commitments.
They lie, don't believe them.
They lie to advance their own agenda and to harm us.
We must resist and fight until America and Israel are brought to their knees.
Only then will peace be possible.
The critical question remains, can this fragile ceasefire hold or will the threat of renewed strikes plunge the region back into conflict?
The situation remains highly volatile.
That was Eson Kevani reporting.
A student from Tehran University says the ceasefire between Iran and Israel is a positive thing.
20 year old Mabinat Rostami says peace is valuable for all people around the world and that the Iranian people believe in mutual respect and peaceful coexistence.
When people around me heard about this fire, they're really happy.
Although it's, you know, it's really obvious all the people will be happy, not angry or something.
They're happy because no one deserves wars or everyone deserves peace.
At the end, I want to say that Persian people or Iranian people in general have no problems with other nations.
We truly respect all people and cultures and we hope for peace and understanding everywhere.
Ostami says many people in Iran have tried to stay hopeful and keep moving forward even though there have been tensions.
She adds that the social order in Tehran has basically returned to normalcy.
things actually feels normal overall things feel normal overall the city is calm right now people go to work or school or uni and stores are open and essential goods are available to you and life continues despite occasional difficulties so it's not no worries at all if it everything is okay like electricity, water, everything.
Everything is fine.
Rostami says many people who left Tehran during the conflict have now returned home.
Rostami adds that she hopes to continue her studies and expresses hope to study in China.
Israel has lifted nationwide emergency restrictions after the fragile ceasefire with Iran took effect.
The Home Front Command says the cancellation of restrictions took effect on Tuesday.
It allows full civilian activity across Israel, including the reopening opening of schools, workplaces and allows for public gatherings.
Israeli authorities say Ben Gurion International Airport near Tel Aviv and a smaller airport in Haifa have resumed operations.
The government says it's achieved all objectives in the conflict with Iran.
Jonathan Rakev has more from Tel Aviv.
The first quiet night after nearly two weeks of constant sirens, the Israeli stance is one that Israel took, not destroyed, destroyed, but took backwards significantly to existential threats.
First and foremost the nuclear threat, as Israel and the United States targeted many nuclear installations around Iran.
And the second one is the ballistic missile threat.
Although Iran still has quite a substantial number of ballistic missiles in their possession, what Israel did is eventually hit and destroyed many of the ballistic missile launchers, but By this way, preventing Iran from firing the large amounts that it would want to fire.
And there was a graph shown here showing that in the first two or three days, Iran would fire more than 100 missiles per day.
But then this number constantly went down and down until in the final days, we spoke of anything between 20 to 30, no more.
Even that number can still create major damage and even fatalities, as we saw in the city of Beersheba.
But the numbers were considerably lower.
This is what Israel says.
Of course, how much was the nuclear program?
We would have to wait a little time to assess.
There are contradicting, there's contradicting intelligence coming from the U .S. One side is saying that there was damage, but damage that can only take Iran a few years backwards.
Other intelligence being brought forward by President Trump and Minister, the Secretary Secretary of Defense Hagset suggests that many of Iran's installations were actually destroyed and the nuclear program was taken years and years backwards.
What is it exactly?
I think we'll have to wait some time until we find out.
So, of course, this is the first day of return to normalcy after nearly two weeks for the first time for about a week and a half.
Businesses are open.
Schools schools are open, the kids are back to school and things are going back to normal.
It probably will take until the end of the week, until everything resumes, because still some people choose to remain at home to see whether this really is holding on.
Some people went away to areas which were perhaps less targeted and will take another day or two to come back.
Generally speaking, things are back to normal.
Back to normal means focusing on Gaza more than on Iran.
There's an unsolved crisis in Gaza going on, and that also has to be taken into account.
That was Jonathan Regev reporting.
U .N. Secretary General Antony Guterres has welcomed U .S. President Trump's announcement of the ceasefire between Israel and Iran.
Stefan Dujeric is the spokesperson for the Secretary General.
The secretary general welcomed President Trump's announcement of a ceasefire between Israel and Iran.
The secretary general urges the two countries to respect that ceasefire fully.
The fighting must stop, he said, as the people of both Israel and Iran have already suffered too much. The secretary general hopes that this ceasefire can be replicated in the other conflicts in the region.
Duterte also expressed the UN chief's deep concern over the wider regional tensions.
The secretary general also expressed his deep alarm at the further escalation of the conflict in the Middle East in relation to the attack by Iran on the state of Qatar.
In a tweet, he strongly condemned the attack on Qatar, a country that he said has been active for peace in the region and further afield.
Duterte stressed that the UN chief is urging all member states to to uphold their obligations under international law and the UN Charter.
While China's permanent representative to the UN has urged all parties to faithfully abide by the ceasefire between Israel and Iran, Futsong also said China condemns the attacks by Israel and the U .S. on Iran's nuclear facilities.
He said the U .S. undermined the negotiation process with Iran, causing the nuclear issue to reach a deadlock and leading to a sudden escalation in regional tensions.
The diplomat said Israel and the U .S. resorted to military action against Iran under the pretext of a potential future threat, which constitutes a serious violation of international law and an infringement on Iran's sovereignty.
China has noted that some members of the Security Council have repeatedly accused Iran of violating its non -proliferation obligations in an apparent attempt to justify the military actions of Israel and the United States.
In response, China urges these countries to face the following basic facts.
The United States is the root cause of the Iranian nuclear crisis.
It was the U .S. that unilaterally withdrew from the Joint Comprehensive Plan of Action in 2018, reimposed and escalated unilateral sanctions on Iran, and adopted a policy of maximum pressure.
As a result, Iran has been unable to enjoy the economic benefits promised under the agreement and was forced to reduce its compliance.
clients. It was again the U .S. that, disregarding its own credibility, brazenly launched military strikes on Iran's nuclear facilities, thereby sabotaging the very negotiation process it had initiated, pushing the nuclear issue back into deadlock and causing a sudden escalation of regional tensions.
China believes that diplomatic efforts to resolve the Iranian nuclear issue have not been exhausted and that a peaceful resolution remains possible.
All parties should draw lessons, restart dialogue on the basis of equality, and work to bring the issue back onto the track of political settlement.
Time and again, facts have proven that the use of force is not the right way to resolve international disputes, nor can it solve the Iranian nuclear issue.
The international national community must make efforts to help de -escalate the situation and promote dialogue and negotiations.
The Chinese foreign ministry says the country is concerned about the escalating tensions in the Middle East and hopes tensions will not further escalate.
Sun Yat has more on the ministry's response.
When asked about the Israel -Iran ceasefire, Chinese foreign ministry spokesperson Guo Jiaquan said the country is hoping for a sustained and effective ceasefire.
He had said that China is closely monitoring developments in the Middle East and China hopes a sustained and effective ceasefire is achieved.
And the country also promotes peace and stability in the region.
Guo also said that China and Iran had a long friendship and China and Iran would continue to cooperate in a friendly way for the benefits of the people of both countries and for stability and peace.
in the region now Guo had made that comment after on Tuesday Chinese foreign minister Wang Yi had a phone call with his Iranian counterpart Abbas al -Rashi and there foreign minister Wang had said China hopes for a genuine ceasefire that de -escalate tensions in the region Meanwhile, the Iranian foreign minister had affirmed Iran's willingness to continue close communication with China, while also saying Iran is hoping for China's greater role in easing the situation.
Meanwhile, the BRICS countries' chair, Brazil, had released or issued a joint statement of the BRICS countries on the escalation of military security situation in the Middle East, and commenting on that BRICS countries' stance, what the ministry spokesperson had said, that the BRICS countries have always been a force, a progressive force, of keeping peace and and stability in the world, and it has been an upholder of international justice and fairness.
And he has also called that joint statement a call for ceasefire, an end to hostilities, and back to dialogue and negotiation, while also continues to say, as he has said consistently in the past few days now, that China is willing to work with BRICS countries and the international national community to work for the peace and stability in the Middle East. That was Sunyit reporting.
Coming up, Gaza officials say Israeli forces continue to kill Palestinians waiting for food aid.
You're listening to the Beijing Hour, 60 minutes of comprehensive news, your window on China and the world.
world 24 past the hour Gaza officials say Israeli forces killed at least 54 people waiting for food food aid and distribution centers in the central and southern parts of the strip on Tuesday Palestinians have been calling the U .S. and Israeli -backed aid sites death traps the Gaza health ministry says over 500 people have been killed trying to obtain food Rami Almagari has has more from Gaza City as of Tuesday 54 Palestinians who have been seeking aid supplies at two important key sites belonging to the American Humanitarian Foundation Gaza Humanitarian Foundation that is a US NGO helped by the Israeli
army have been killed 54 Palestinians have been killed, and dozens of others have been injured.
As a crowd of Hungary -Palestinians had to flow into the sites in central Gaza Strip, Nazarene Corridor, and the Shakush area to the north of Rafah City and south of the territory.
We trusted the occupation soldiers after they told us to take the package.
I walked past the tank and picked up the package, and suddenly they started shooting directly at us.
The young men were lying in pieces on the ground.
Others were wounded, some in the head, some in the feet.
I went there because they said there was flour, but it turned out to be medicine.
I didn't go as far as the others.
I stayed back. Still, the sniper opened fire on me.
He kept shooting until some people came to help me.
But the five who helped me were killed.
The injuries varied, some to the head and upper body, but most were to the abdomen and chest. Many of these injuries resulted in compound fractures and bone fragmentation, which led to numerous amputations.
This is now the first time that these Palestinians who have been seeking aid are killed.
More than 250 Palestinians of these people have been so far killed in the past few weeks when the American foundation opened its distribution site for Palestinians.
This is a situation that remains in place for the past few weeks as the situation is critical here in the territory in terms of the casualties, the airstrikes, bombardments.
as meanwhile also Israeli army ushered renewed evacuation orders for population of eastern Gaza city and northern parts of the Gaza Strip, renewed orders and warning them strongly that they should not return to their places because of Israeli operations over there.
The Palestinians here in Gaza, more than 2 million Palestinians, Palestinians are trapped between the death and the displacement continue unabated here in the territory.
That was Rami Amagari reporting.
NATO leaders are in the Netherlands for their annual summit.
They're expected to endorse a higher defense funding goal of 5 % of GDP in response to a demand by U .S. President Donald Trump.
It marks a significant increase from the current 2 % guideline.
The summit marks Trump's first appearance at the U .S.-led military alliance since his re -election.
Sarah Coates has more from The Hague.
A lot to watch here, but certainly the big topic is that increase in defense spending.
That is something that Mr. Trump has been adamant that these NATO allies must achieve, and it certainly does seem as though this may happen.
Now, while he was traveling here to The Hague, he was posting a flurry of tweets on social media, media, his own platform Truth Social, saying that the secretary general of NATO, Mark Rutter, has told him that Europe is going to pay in a big way, as they should, and it will be his win.
And what we're seeing on the ground here is a huge security presence.
There have been more than 27 ,000 police deployed.
There's constant buzzing in the skies from helicopters, also fighter jets and frigates It's patrolling the North Sea.
Now, certainly a lot to keep an eye on over the coming day here in The Hague.
And, of course, we'll be here on the ground to keep you updated with all of the relevant information.
That was Sarah Coates reporting.
We're at 29 past the hour, Beijing down to 25 degrees on Wednesday evening.
Overcast conditions in the 33 for Thursday.
Nansheng's 25 overnight, then cloudy in 35.
Elsewhere in Asia, Islamabad's 25 this evening, a slight rainfall, and 30 tomorrow.
Vientiane's down to 24, then some rain, and 31.
Phnom Penh's 25 this evening, then heavy rainfall, and 33.
In Africa, Nairobi's getting some rain, and 23 degrees on Thursday.
Kampala's down to 21, followed by a slight rain, and 26.
Chuba's 22 overnight, then cloudy, and 35 degrees.
And finally to Oceania, Port Vila's 23 this evening, a slight rainfall, and 28 tomorrow.
tomorrow p will get a slight rainfall on thursday and 28 degrees celsius it's time for a short break so far this hour the chinese premieres uh told the summer davos meeting in tianjin that china will continue to foster a first -class business environment iran's parliaments approved a bill to suspend cooperation with the international atomic energy agency gas officials say israeli forces have killed more than 50 people waiting for food aid on tuesday shane bagham my team stay with us here on the beijing hour Shh, listen up.
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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 shane begum with you on this wednesday still to come in business chun is emerging as a driver of the clean energy transition in sports wrapping up the group stage at the club world cup in culture and entertainment italian media will air a cultural documentary from china media group to contact us you can email radio at cgtn .com or follow our ex -account at CGTN Radio.
Now checking the day's headlines.
Here's Tianyu. Thank you, Shane.
Chinese President Xi Jinping has exchanged congratulations with Mozambican President Daniel Chappell on the 50th anniversary of diplomatic ties between China and Mozambique.
President Xi said he's ready to work with President Chappell to deepen ties within the frameworks of high -quality Belt and Road cooperation and the Forum on China -Africa cooperation.
The Mozambican president said his country is willing to continue to expand cooperation with China and jointly defend multilateralism.
Chinese Premier Li Chen has reaffirmed the country's commitment to fostering a first -class business environment and keeping the doors wide open to global businesses.
He told the annual meeting of the new champions that China is willing to share its technologies and innovation with the world.
At the event in In Tianjin, also known as the Summer Devils, the premier encouraged entrepreneurs to embrace free trade and an open market.
The new era requires entrepreneurs to play bigger roles, assume greater responsibilities and add new dimensions to entrepreneurship.
I encourage you to do more for the greater good.
I hope you will always follow the laws of the market, market, do what is right, champion openness and cooperation, uphold economic globalization, oppose decoupling and serving of supply chains, and call on all sides not to turn trade into a political or security issue.
I encourage you to do more for win -win results.
I wish you will embrace each other's development with an open and inclusive mind, share resources, draw on each other's strengths, promote market integration and mutual empowerment, and achieve common growth.
Premier Li reiterated China's confidence and capabilities in maintaining rapid economic growth.
He urged the international community to take action in economic and trade cooperation.
A Chinese mainland spokesperson has slammed remarks concerning cross -strait relations in a speech made by Taiwan leader Lai Ching -te as a monologue advocating Taiwan independence.
independence. Zhu Fenglian, spokesperson for the State Council Taiwan Affairs Office, said live speech deliberately distorted history in an attempt to create hatred and to exacerbate the social division within the island.
The spokesperson said Taiwan independence is a dead end, noting that Taiwan's future lies in national reunification and the well -being of the Taiwanese people is linked to national rejuvenation.
Continuous heavy rainfall and and upstream inflows have triggered severe flooding in Guizhou province in southwest China.
Over 80 ,000 people have evacuated in Rongjiang and Chongjiang counties, where local authorities have raised the flood control emergency response to the highest level.
Rescue teams, including firefighters and volunteers, deployed boats and other equipment for the rescue work in the two counties.
The United Nations has reiterated its call for diplomacy and dialogue to ensure the peaceful nature of Iran's nuclear program.
Undersecretary -General for Political and Peacebuilding Affairs Rosemary DiCarlo addressed the Security Council expressing regret that the 2015 Iran nuclear deal has yet to be fully implemented.
The military escalation between Israel and Iran since 13 June and United States airstrikes on on Iran's nuclear facilities on 21 June, complicated prospects for achieving full implementation of Resolution 2231.
Iran strikes yesterday in a base in Qatar, an action which the Secretary General condemned further exacerbated insecurity in an already tense region.
Resolution 2231, which endorses the 2015 deal known as Joint comprehensive plan of action is set to expire on October 18.
The plan was designed to ensure that Iran's nuclear program remains exclusively peaceful.
However, the agreement has faced numerous challenges, notably the United States' withdrawal in 2018 during Donald Trump's first term as president.
DiCarlo stressed that the United Nations remains committed to supporting all efforts that promote peace, dialogue, and stability in the region.
up in business china is emerging as a driver of the clean energy transition the beijing hour your window on china and the rest of the world 36 past the hour in business stock markets on the chinese mainland closed higher on wednesday shanghai composite gained over one percent the shenzhen component was up over 1 .7 percent the home appliance and software development shares led the gainers hong kong stock market ended higher the hang seng index increased over 1 .2 percent.
In Japan, the Nikkei gained almost four -tenths of a percent.
An energy expert with the World Economic Forum says China's emerged as a central driver of the global energy transition.
According to Nicholas Wagner, the country's recent progress in energy transition underscores the scale of its commitment and its visionary long -term planning and investment.
Wagner says China now leads the world in renewable energy capacity additions and is projected to account for around 60 % of all new global capacity through 2030.
Wagner spoke highly of the country's innovation ecosystem and supportive policy framework.
He says the government's backed this push with a wide range of policy tools, including support for large -scale and distributed renewable systems and a national emissions reduction plan.
He also says China continues to channel significant capital not only to mature technologies such as solar and wind, but also into emerging solutions Like electric vehicles and energy storage.
At this year's summer Davos, the main focus is on how organizations around the world can stay resilient and innovative in an increasingly complex environment.
Olivia Ho sat down with Richard Fleming from Bain & Company discussing how the consulting firms' key projects are redefining finance and where China's financial data infrastructure is headed next.
Amid rising global economic uncertainty, what data indicators are most critical for businesses to adapt strategies quickly?
I think the good news for businesses is actually AI really helps to adapt to this changing world and to this uncertain world.
If you think about it across the value chain of the business, from product development, supply chain, sales and marketing, providing service.
Right up at the front in product development, we've been working with clients actually to move away from the traditional surveying of their customers to use social media, for instance.
and being able to mine that all the time and understand what their customers want in their products that actually helps them if they global firms be global but also local and that creates more dynamism in the business with supply chains the data that businesses now have they can optimize their forecasting of product requirements they can optimize their supply chains for the supplying environment that they have. In marketing they can speed up marketing with the data that they have or by actually sort of bypassing agencies and using generative AI models to develop new content and test that with their
consumer base. Again it helps large companies be global and very local and more flexible to the conditions so I think actually data and AI is really helping businesses to be flexible to the conditions.
And for the Chinese market where do you see the future priorities for financial data infrastructure, data security, compliance or innovative applications?
I think it's much more innovation actually.
Yes there's going to be the picks and shovels associated with supporting compliance and making sure the data is secure, that's really important, it's important for customers as well as for businesses but you know really it's in innovation, so the knowledge that you can actually capture to help provide wealth management services or the data that you can develop about businesses and consumers to allocate capital better and lending better.
The information that you can give to consumers so that they can choose a better bank account, a better interest rate when they choose their bank, all of those things actually create huge amounts of innovation in financial markets, in financial products.
So I think it's all going to be in innovation, really.
That was Olivia He reporting.
Meantime, corporate executives are discussing China's innovation -driven economy and what the competitive market means for multinationals.
Michael Wang spoke with Zhou Engai, chairman of McKinsey Greater China, to get his perspective.
I feel like Chinese companies are price competitive and innovative at the same time for many industries.
The first industry that I can think of, electric vehicles.
So good value for money, price competitive, but also very innovative.
So that innovation potentially may not be translating into higher margins.
What do we do about that?
Well, look, I think at the end of the day, that innovation in two things.
One, I think that innovation in features, in better consumer appeal, better product and all that.
But the other innovation, by the way, I think is really extraordinary Chinese companies is innovation in the supply chain, Innovation in cost, innovation in getting the cost structure to a level that no one ever thought of before because of the competitive intensity.
So I do think that the competition is a very important element of Chinese corporate environment in order to force the innovation on cost and on the product.
But at the same time, I do think that pricing can be more disciplined.
And I think that these two are different.
We can have competition, but we can have pricing discipline.
And I think that the pricing discipline, or at least being a bit more constrained on how quickly you result that lever, I think is something that we all have to learn.
But again, remember these are all individual companies who are all making individual decisions, right?
So I think that it needs to somehow have a little bit better industry structure in order to be conducive to that behavior.
I think when Chinese consumers go and consume, they're not thinking as much around am I choosing between a multinational product or a domestic company product.
That's not how they think about it.
They think about what do I need right now and how do I get it at the price point that makes the most sense to me.
So I think that the first thing is that I think it's not multinational versus local.
I think it's around in each segment who is playing in there and everyone is fair game.
game. I think that there are plenty of multinationals have done very, very well in trying to figure out the right product at the right segment and with the right price point.
The challenge for most multinationals in this area is the pace of innovation.
So even if you have a great product at the right price point, what happens in China?
Two weeks later, someone else is going to have something that looks even better, even cheaper, right?
And that rhythm or that pace of innovation in China is nothing anyone has seen in the rest of the world." That was John Gai from McKinsey, Greater China offering his insights on China's innovation -driven economy and the competitive market.
The 2025 annual meeting of the Asian Infrastructure Investment Bank is underway in Beijing, attracting business leaders, civil society organizations and global experts from a variety of fields.
The event aims to provide a platform for the the AIIB to showcase its progress and engage with diverse stakeholders in discussions, collaborations, and forward -looking dialogues.
The meeting also marks the beginning of a series of events to celebrate a decade of impact.
The gathering will highlight some of the bank's key achievements in advancing sustainable economic development, creating wealth, and improving infrastructure across its members in Asia and beyond.
The AIIB has 110 members, which collectively represent 81 percent of the global population and 65 percent of the world's GDP.
Malaysian experts hail the Asian Infrastructure Investment Bank as a global force in infrastructure finance.
Professor Chung Tin Far at Malaysia's Health University says the AIIB bridges infrastructure financing gaps in Asia and is a proactive agent in climate finance and crisis response.
Chung says that the AIIB is well positioned to deepen coordination and cooperation with regional institutions, such as the Asian Development Bank and the New Development Bank.
The professor adds that Malaysia stands to gain immensely from its involvement in the AIIB, especially in areas aligned with national priorities like green infrastructure and innovation.
The nighttime tourism economy is heating up across China as hot summer days stimulate demand and fuel consumption growth.
When night falls, the Shizu Corridor Bridge in Hangzhou turns into to a stage for captivating performances including Yue opera, Kunshu opera and more.
In Jingdezhen, the world -famous porcelain capital, the Tao Xichuan Cultural and Creative Block hosts over 500 nighttime stalls showcasing exquisite porcelain works and cultural heritage crafts.
Research fellow Wang Xiaoyu with the Chinese Academy of Social Sciences says the nighttime economy now features new business forms. It is no longer just an extension of daytime activities, but features new business forms, spaces, and consumption scenarios, such as tech -driven immersive experiences, intangible cultural heritage products, and the fusion of museums and art galleries with nighttime activities.
All these represent new growth points for the future.
According to a survey by the Chinese Tourism Academy, the demand for shopping and cultural experiences and expectations for innovative cultural and fashion art have increased significantly among nighttime travelers.
Official data shows that tourists spent over 1 .9 trillion yuan, roughly 265 billion U .S. dollars on nighttime tourism in 2024, and that was up nearly 22 percent.
Coming up in sports, wrapping up the group stage at the Club World Cup.
out. Is the NBA losing its grip on Chinese fans?
This week on Sideline Story, we look at the lack of buzz in China for the recently concluded NBA finals.
What's going on? Is it star power, controversial calls, or is social media reshaping how fans engage?
Are Gen Z fans ditching full games for highlights?
Dive deep into the future of sports viewership on Sideline Story.
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47 passed now and turning to sports.
Here's Yang Guang. Thank you, Shane.
Starting with football at the Club World Cup in the US, Benfica etched Bayern Munich 1 -0 to top Group C and advancing to knockouts as group winners.
The only goal of the game came in the 13th minute when Benfica's Friedrich Oresnes found Andreas Skaldrup to score with a decent first -time finish.
Bayern, who had already qualified with two wains, introduced more firepower in the second half with Harry Kane and Yusua Kimmich coming on.
The German champions kept pushing with Leroy Sané denied by Anatoly Trubin four minutes into the second half.
Five minutes later, Karim Akhtar Koglou nearly doubled Benfica's advantage, but veteran goalkeeper Manu Norie was equal to his efforts.
Bayern thought they were level just after the hour mark, Kimmi's long -range effort went into the net, but the goal was overturned because Kane was in an offside position, opposition, obstructing the keeper when the shot was taken.
The Portuguese club will host Chelsea in the last 16 on Saturday.
Bayern will play Group D winners Flamengo on Sunday.
The other game in Group C saw the battle of two already eliminated sides with Auckland City and Boca Juniors ending in a one -all draw.
The 2025 UEFA Women's European Championships will see 16 teams battle it out in Switzerland to be crowned champions.
champions. The tournament will run from July 2 to 27th.
Nations will be split into four groups of four teams, with the top two sides from each advancing to the quarter -final stage.
World champion Spain is in group B with Belgium, Portugal and Italy.
Spanish coach Montsicome has back -to -back Ballon d 'Or winner Aytama Boumati and recent Champions League winner Mariola Caldente in her ranks, two players that make Spain one of the favorites.
Brits. Captain Bomati has never won this tournament and after defeating the Champions League final with Barcelona in May, she was desperate to bounce back with her national team.
We are excited to go to the Euros because we never won this tournament.
We had the last experience in England.
We lost against England in a game that I think that we deserved more.
So it's one tournament, one title that we didn't win, never we didn't win.
So I hope this summer can fight for it.
Spain will have its final friendly against Japan on Friday in Legnitz before traveling to Switzerland.
In basketball, from the main side of the 3 -on -3 World Cup in Mongolia, China got their Group C campaign up and running with two wins.
games. In the match against Canada, China moved ahead 6 -4 thanks to Guo Hanyu.
However, Canada came back and levelled the score at 15 each. China forced their opponents to make 7 errors and led 17 -15 after two free throws.
The Chinese side kept piling under pressure, and Zhang Dianliang helped the team get close to victory.
Canada called a timeout and then battled back to level the contest at 20 -all.
China got the winner with 30 seconds left with Xiang Zichao sealing the weigh -in 22 -20 Around a couple of hours before that game, China got past Puerto Rico in their opener 21 -17 China will also have France and Austria to contend with in the group stage The top team from each group will advance directly into the quarter -finals while the second and third place sides will have a last 16 round to play in women's field hockey from the FIH Pro League China came from behind twice to snatch a late 3 -2 victory against host Germany this was China's second straight victory after beating Argentina the Germans
took the lead in the 10th minute Lisa Nota fired a flat reverse stick pass across the circle that Johanna Hachenberg deflected in at the near post China fought their back in the second quarter and Huang Haiyan's goal in the 25th minute made it 1 -0.
Lili's still foul smile slapped low into the bottom corner to give Germany a 2 -1 lead on the stroke of half time.
Dan Wei equalised again for China in the 39th minute.
She created a shot from the top of the circle under pressure but it took a lucky deflection as the ball looked to be going well wide.
The winner came from Tan Jingtong in the 57th minute whose drag flick sealed the 3 -2 victory.
After 13 matches in the Pro League, China is in fourth place with 22 points.
And finally, in tennis and bad, Hongberg Open Igor Svantec began her preparations for Wimbledon.
She secured a straight sense victory over former world No. 1 Victoria Arsarenka.
Two -time Grand Slam champion Arsarenka pounded a forehand down the line to open the court for an easy winner.
Svantec jumped out for a 5 -4 lead but faced a break point.
The Pole was able to fend it off with the backhand winner to the corner, and she went on to take the first set, 6 -4.
Shvayontak had never reached the final of a grass court tournament before.
Her best performance at Wimbledon was the 2023 quarterfinals.
The 24 -year -old led 2 -1 in the second and fended off another breakpoint with the backhand.
Shvayontak had match point and she took the second set, 6 -4, to claim her 300th win on the WTA Tour and reach the quarterfinals.
Thank you very much. That was Yong Guang with sports.
Just ahead in culture and entertainment, Italian media will air a cultural documentary from China Media Group.
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At 53 past the hour, in culture and entertainment, mainstream Italian TV channels and media outlets will air a cultural documentary series by China Media Group.
The Guardian of Heritage depicts Chinese President Xi Jinping's care for the inheritance and development of culture.
It comes as part of the efforts to mark the 55th anniversary of diplomatic relations between China and Italy.
The series tells stories about the leader's dedication to the development of traditional Chinese culture.
The series also shows his reflections on cultural confidence and his affection for preserving cultural heritage and carrying on historical traditions.
Analysts say the production illustrates China's efforts to explore the roots of civilization and safeguard cultural heritage, while also highlighting distinctive aspects of Chinese culture for international audiences.
More than 30 mainstream Italian media platforms will air the documentary series starting from Wednesday.
day. On the same day, CMG will help to organize an event displaying its first major film and TV productions.
The event aims to depict Chinese stories from diverse perspectives, providing Italian audiences with a multifaceted view of a thriving China.
Art Basel is one of the most popular events on the global art calendar.
This year's event features more than 280 top galleries and the works of over 4 ,000 artists from around the world.
Ding Siyueh reports.
Basel's Mass Platte has been home to Art Basel since its inception in 1970.
But it is not normally bathed in magenta paint.
Attracting tens of thousands of collectors, artists and art enthusiasts, the fair is now in its 56th edition.
German artist Katharina Grosser has created magic with her famous gray print gun at the entrance of the plaza.
Well, you come here, from all over the world, to the most important art fair in the world.
And all of a sudden you step together on a painting, and that makes you share a moment of imagination, of fiction, and all your trajectories, your thoughts, your sensibilities get kind of rattled into a pause.
And that's what I actually want.
I want to make you go, oh, okay, and then you go on.
Show director Mike Cruz has a lot of art to oversee.
She's still excited about a variety of exhibitions for the crowd.
What is clear is that she's delighted with Katerina Gross's mass -class piece.
Yeah, she really transformed the square as we know it and really took over.
As ever, Art Basel takes place in relief against their annual report on the state of the art market.
It presents a statistical analysis of the previous year, and the report noted some elements of decline.
The art market is not in a really good shape.
The top end is performing well, but we're really talking about 20 artists, while everyone else is struggling.
Is that a new development?
Not really. Over the past 10, 15 years, the art market has been in a recession, and it hasn't really recovered yet.
In 2024, the show attracted an overall attendance of 91 ,000 over six show days.
They are hoping for even more this year.
As Ding Siyu -8 reporting, a Belarus -China youth forum is opened in Minsk.
The National Children's Technopark is part of a celebration of friendship and unity between the Belorussian State University and Peking University.
Around 200 students from 36 Belarusian and 11 Chinese universities participated in the forum.
Chinese Ambassador Zheng Wenchuan described education as one of the most important areas of cooperation between the two countries.
Belarusian State University said the event will help strengthen partnership, consolidate interaction in youth policy, and create a platform for intercultural exchanges.
Shenzhen is offering tourists diversified and unique experiences by leveraging its natural and cultural resources.
Data shows the southwest Chinese region, also known as Tibet, saw nearly 16 .4 million tourist visits from home and abroad in the first five months of the year, an increase of nearly 14%.
Summer tourist attractions across Shizhong are seeing an influx of visitors right now.
We're at 57 past the hour, checking the forecast before we go for the day.
Beijing's down to 25 degrees on Wednesday evening.
It'll be overcast and 33 on Thursday.
Nansheng's 25 overnight, cloudy and 35 tomorrow.
Elster and Asia, Islamabad's down to 25, and then a slight rain and 30 tomorrow.
Bintan's down to 24, followed by some rain and 31.
Phnom Penh's 25 this evening, then heavy rainfall in 33.
In Africa, Nairobi's getting some rain and 23 degrees on Thursday.
Kampala's down to 21, followed by a slight rainfall and 26 degrees.
And that's it for this edition of the Beijing Hour.
Making news today, the Chinese premier has told the summer Davos meeting in Tianjin that China will continue to foster a first -class business environment.
And Gaza officials say Israeli forces killed more than 50 people waiting for food aid on Tuesday.
On behalf of the staff, this is Shane Bigum in the Chinese capital, hoping you'll join us for the next edition of The Beijing Hour and open a window to the world together.
Find The Beijing Hour at precisely 6 p .m. Beijing time.
We meet you on podcast and on air every weekday.
The Beijing Hour, your window on China and the rest of the world.
He can't live without the Yellow River in his eyes.
The Yellow River is so noble and elegant.
Both my grandpa and dad made a 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.
