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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 Bigum with you on this Thursday, December 19th, 2024.
You're listening to the Beijing Hour, coming to you live from the Chinese capital.
On today's program, the Chinese presidents visited the Guangdong -Macao in -depth cooperation zone in Hengqin.
The UN Special Envoy for Syria has called for free and fair elections in the country.
A youth delegation from Taiwan is visiting the Ice and Snow Festival in Harbin.
In business, China is streamlining foreign currency management for multinational companies.
In sports, the FIFA Intercontinental Cup.
In culture and entertainment, a museum exhibition shows Macau's close ties with the maritime Silk Road.
Now checking the day's top stories.
Chinese President Xi Jinping has visited the Guangdong -Macao In -Depth Cooperation Zone in He had exchanges with Macau residents living and starting businesses in the zone, and with people involved in the zone's planning, construction, management and services.
President Xi also visited the Macau University of Science and Technology.
He learned about the development of two state -level key laboratories at the university, and spoke with teachers, students and scientific researchers.
The Chinese leader will attend a gathering marking the 25th anniversary of Macau's return to China on Friday.
He'll also be present at the inauguration ceremony for the region's incoming government.
Macau will swear in Sam Ho -Fai as the new chief executive.
The Guangdong -Macau in -depth cooperation zone plays an important role in strengthening ties between Macau and neighboring Guangdong province.
Lu Sere has more. The Hengqing -Guangdong -Macao in -depth cooperation zone was launched by the Chinese government in 2021 to strengthen ties between Guangdong Province and the Macao Special Administrative Region.
And the plan focuses on turning Hengqing Island next to Macao into a thriving economic zone that encourages cooperation in areas like innovation, technology, finance, tourism, and public services.
And the idea is to combine the strengths of both regions, Guangdong with its strong manufacturing base and Macau with its focus on services, especially tourism and gaming.
And Hengching will become a hub for new industries like biotech, artificial intelligence, advanced manufacturing and financial services with world -class infrastructure and support for talent and research. The goal is to build a place where innovation can thrive and to attract businesses and talent.
The plan includes a range of special policies including tax incentives and simpler regulations to make it easier for companies to operate.
And this is a big plus for businesses looking to tap into the opportunities in the Greater Bay Area, which brings together Hong Kong, Macao and nine cities in Guangdong to create a dynamic economic zone.
And the project also focuses on closer cooperation in education, health care and cultural exchange, enabling people and resources to move between Guangdong and Macau.
And the aim is to improve the quality of life of the residents while also boosting both regions' developments.
Overall, the Hengching Cooperation Zone is part of a broader strategy to promote cross -border collaboration, innovation and sustainable growth.
It's expected to play a key role in the Greater Bay Area plan, helping both Guangdong and Macau grow and stay competitive on the global stage.
That was Liu Surrey reporting.
China's central authorities issued a general plan for building the Guangdong -Macau In -Depth Cooperation Zone in Hengxin three years ago.
The zone's become a driving force for Macau's long -term development.
For more on the Hengqing plan's achievements, Hona spoke to associate professor Ming Liu from the School of Management and Economics at the Chinese University of Hong Kong, Shenzhen.
Tell us more about the achievements made so far in facilitating economic diversification and regional collaboration.
Well in terms of the new industry development, the four new industry directions of Heng Ching Corporation Zone has aligned perfectly with Macau's 1 plus 4 industry development strategy so they promote new industries such as the science, technology, R &D and high -end manufacturing industry, the cultural tourism and also modern finance.
In the past three years the number of science technology and high -end manufacturing industry operators has reached 11 ,000 accounting for 68 .4 % of Hongqing's new industries.
And in terms of the foreign investment the Hongqing Corporation Zong has strongly encouraged the establishment of the multi -currency venture fund funds and also the private equity funds to attract the foreign investment to support the the high -tech companies' innovation and entrepreneurship.
In terms of the regional economy, to make it more competitive, Hengqing Zoom has constructed an integrated three -dimensional transportation system and this accelerates the transportation linkage between Hengqing and Macau strongly.
Also it has imposed a lot of policy incentives such as the due tax 15 % rate the eligible industry operators.
And all of those have made the regional economy more competitive than before.
That was Associate Professor Ming Liu from the Chinese University of Hong Kong in Shenzhen on how the Hengxin plans advance the progress and development of industries in Macau.
Macau has become an important platform connecting Portuguese -speaking countries and the Chinese mainland.
Trade between China and the Portuguese -speaking countries reached over 174 billion U .S. dollars in the first three quarters of the year.
Xuhua spoke to some business owners to find out more.
My name is Carlos Alvarez.
I came to Macau on vacation 25 years ago.
I came here now for working as a CEO of BNU.
BNU is a state -owned company that belongs to CGD that has a very important presence in the Portuguese -speaking countries.
Alvarez, who first visited the region 25 years ago as a tourist and now as a businessman, has seen Macau evolve into a significant platform connecting Portuguese speaking countries and the Chinese mainland.
How do you view the current foreign investment environment?
Thank you. So the bank is here in Macau for already 122 years, so we have a strong relation with many companies.
We have a very close relation with companies from different sectors.
The recovery of the economy after the COVID was really strong.
So there are some sectors that recovered completely, mostly related with tourism so regarding integrated resorts and so on over s emphasizes that China is a rapidly growing region which is why his Bank has been helping companies in Portuguese speaking countries look to Macau as a gateway to the Chinese market Antonio treaties company is one of them so we We are, I think, unique in Macau.
We are a mix, most of our colleagues are local professionals, highly trained but we have also international colleagues, specialists from all over the world.
Based in both Macau and Portugal, Tradee's company expanded their business further into the Chinese mainland.
In the mainland, we operate a public network of heating for, you know, in the very high, you know, cold winter locations in Xinjiang, or in Liaoning, in, you know, like, Liao Yang, where we have a district where we operate the local heating network.
With a history of over 450 years, the relationship between Portugal and China continues to grow.
Everest sums up his outlook for the future in three words, important, positive and brighter.
That was Xu Hua reporting.
Drama performances by art groups from Macau are gaining traction in mainland cities due to their unique local features and the integration of Eastern and Western cultural elements.
Gao Junya interviewed a playwright and a producer from a Macau drama association to explore their stories and insights.
Founded in 1975, the Hukok Drama Association is a non -profit organization in Macau.
Over the decades, the association has presented hundreds of performances, most of them based on original scripts.
In recent years, the association has has been increasing performances in mainland cities, including Beijing, Shanghai, Shenzhen, and Tianjin.
One of the most recent plays was Zhuo Mi Can, or Hide and Seek in English, which tells a story of suspicion and mistrust between a mother and a daughter who ultimately achieve reconciliation.
The play premiered in Shenzhen in November last year and received an enthusiastic response.
This October, it was performed in Beijing, followed by shows in Guangzhou in November.
Playwright and director Li Yuliang says the team felt grateful and encouraged by the warm and positive audience feedback.
We were a bit worried at first about whether the audience in Beijing would accept our play.
But thankfully, ticket sales were strong and audience reaction was positive.
After watching it, many posted enthusiastic feedback on Xiao Hong Shu, which gave us a huge boost. So far, the drama has been performed in different mainland cities a dozen times.
All the shows are presented in Cantonese, with Mandarin Chinese subtitles.
Director Li says another distinctive feature of the drama is its blend of Eastern and Western cultural elements.
It also looks at how Western civilization affects traditional family values in China.
The mother sent her daughter abroad to study when she was just 11 years old.
These days in Hong Kong, Macau and mainland, many families do the same.
But this can lead to issues because of the differences between Eastern and Western values.
The team will use region -specific expressions for the same lines in the subtitles.
Producer Yang Bing says combining the local language with specially created subtitles has proven to be a great choice.
Mr. Li Yuliang first translated the Cantonese lines into Mandarin.
Then we'd check with our friends from the mainland to see if they got the slang or funny bits.
If they didn't, we'd talk about how to adjust them.
Yang says they have specific selection criteria when considering which works to bring to the mainland.
First, we prioritize original works from Macau when performing on the mainland.
We really want mainland audiences to see Macau from different perspectives through our works, things like its culture, arts, drama, and a different side of the city.
That's why we pay much attention to the human stories in our works.
Huy Koc not only tours the mainland, but also participates in drama festivals in Hong Kong every year, bringing different works to perform there.
The association has been inviting domestic and international performing groups to Macau for performances and exchanges at their Huy Koc Laboratory.
He answers that in the future, they will promote more works from Macau on the mainland while encouraging other theatre groups in the special administrative region Beijing to bring their productions to the mainland for tours.
Playwright Li Yuliang has also expressed hope that they can further deepen communication with their mainland counterparts and diversify their cooperation efforts.
For the Beijing Hour, this is Gao Junya.
Coming up, the UN calls for free and fair elections in Syria.
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14 minutes past the hour.
The UN Special Envoy for Syria has called for free and fair elections in the country.
Gare Peterson says there's a lot of hope to see the beginning of a new Syria as he wrapped up his trip to Damascus.
Philip Crowther with the Associated Press reports from the Syrian capital.
UN special envoy Pederson also could not really have imagined himself being here in Damascus just 10 days ago.
Despite being the special envoy for Syria, he had to do almost all of his work from afar.
Now, he's able to brief the Security Council in New York from here, from Damascus, after having met the interim government, an interim government that, of course, is largely made up of members of Hayat Tahrir al -Sham.
that is the main rebel group, Islamist group that has now taken over power.
A citizen here in Damascus calling for an inclusive transition and one that includes the broadest range of Syrian society and parties.
There are a few challenges.
One is that the conflict is not over yet.
Yes, there is stability in Damascus, but there are challenges in some areas.
And of course, one of the biggest challenges is the situation in the Northeast. I'm very pleased that the truce have been renewed and that it seems to be holding but hopefully, we hopefully we will see a political solution to that issue.
Then the second and that of course is a major challenge for all as you all know is the scale of the economic challenges.
We need immediate humanitarian assistance but we We also need to make sure that Syria can be rebuilt, that we can see economic recovery and that we can hopefully see the beginning where we start the process to end sanctions.
And third, but not last, of course, it is the importance of making sure that we have a political transition that will be credible, inclusive, and include the broadest range of the Syrian society and Syrian parties.
He also wants this transition to happen under the existing UN framework.
This was put in place for there to be a political solution between the government of Bashar al -Assad and the opposition during the civil war.
That of course is not necessary anymore, but that is the framework that the United Nations still want to use here.
A call also for free and fair elections from the UN here in Syria.
We simply don't know whether the new leadership here in Damascus has those plans after the transition officially comes to an end here in March. But those in charge of the transition, the interim government, the new Islamist government of the new Syria, they will, though, be happy to hear from Pedersen, the UN special envoy for Syria, that he wants to see a start to the process to end Western sanctions.
That has been one of the most important, loudest calls from this interim government for Syria to somehow get out of the economic disaster it found itself in under President Assad.
That was Philip Crowther reporting.
Mediators in Doha have expressed hope for a ceasefire and hostage release deal between Israel and Hamas in the coming days, As talks aiming to end the fighting in Gaza continue in Cairo, the UN Security Council has also held a meeting on the conflict.
Mitch McCann has more from New York.
Amid reports that mediators are closing in on a ceasefire deal between Israel and Hamas, Israel's ambassador to the United Nations speculated on what such an agreement might look like.
Danny Danone told the press before entering the Security Council meeting that a ceasefire might occur in stages.
I am not sure if it will be in one stage.
We hope it will be in one stage because we want to see all the hostages back home.
Maybe it will not be in one stage and basically it will be similar to what we saw in the past, more than a year ago, that you have a ceasefire, a long one, and at the same time of the ceasefire, during that ceasefire, hostages will be released.
At the Security Council, members were briefed on the dire situation in Gaza and were informed that approximately 250 Palestinians had been killed in the past week as a result of Israeli strikes.
Despite ongoing discussions of a ceasefire, Israel's Defence Force ordered another evacuation in central Gaza overnight, ahead of an expected offensive there.
Meanwhile, Israel says it has carried out successful strikes targeting Hamas militants, who were planning an attack on Israeli soldiers operating in Jabalia.
A ceasefire is long overdue.
The continued collective punishment of the Palestinian people is unjustifiable.
The relentless bombardment of Gaza by Israeli forces, the larger number of civilian casualties, the blanket destruction of Palestinian neighborhoods, and the worsening humanitarian situation are horrific.
U .S. Ambassador to the United Nations Linda Thomas -Greenfield said it's crucial that the release of hostages be part of any agreement rather than simply allowing Hamas to negotiate a ceasefire.
Instead, we must speak with one voice and demand that Hamas agree to release the hostages they're holding so that we can implement the deal on the table to end the suffering of hostages from more than a dozen member states and millions of Palestinian civilians in Gaza and to put the parties back on a path toward a two -state solution.
Health officials in Gaza say that 45 ,000 Palestinians have died since the war began in October 2023.
That was Mitch McCann reporting.
China's deputy permanent representative to the UN has called for all necessary actions to reach a ceasefire in Gaza.
Geng Shuang made the remarks at the UN Security Council meeting on the Hamas -Israel conflict.
conflict. The strikes against Gaza have not stopped, and innocent residents in Gaza are still being killed.
China supports the UN Security Council to use all options in a toolbox and take all necessary actions to reach a ceasefire in Gaza and to urge countries concerned to stop blocking the Security Council from taking actions.
Geng warned that over two million people in Gaza suffering from war, hunger, disease, and severe cold.
He said the two -state solution is the only viable way to solve the Palestinian question.
The envoy added that China is willing to work with the international community to reach a ceasefire, restore regional peace, and achieve a just and lasting solution for the Palestinian issue.
Coming up, Taiwan Youth Delegation visits the Ice and Snow Festival in Harbin.
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At 22 past the hour, a delegation of young people from Taiwan led by former Kuomintang chairperson Ma Ying -jeou is visiting the Chinese mainland.
They're in Harbin to attend the ongoing Cross Strait Youth Ice and Snow Festival.
Officials from the Chinese mainland have met them in the northeastern city.
Zhang Yibing has more.
In the city of Harbin, Song Tao, the head of the Taiwan Affairs Office of the State Council, met with Ma Ying -jeou, the former chairperson of the Chinese Communist Party.
Song gave Ma and a group of Taiwan youth a very warm welcome.
Song conveyed the greetings from Xi Jinping, General Secretary of the Communist Party of China Central Committee.
Song said people on both sides of the Taiwan Strait are Chinese and should stick to the One China Principle and promote exchanges and safeguard peace and stability.
And Ma thanked the greetings, saying both sides should oppose the separatists in Taiwan and join hands to promote ties between both sides.
This is Ma's second trip to the mainland this year and his third in less than two years, underscoring his continuous efforts to foster cross -strait engagement.
Ma is leading the group of Taofeng youth to northeast China's Heilongjiang province to participate in an ice scene event.
event. They will also travel to Sichuan Province in the southwest to experience traditional Chinese culture before returning to Taiwan next week.
That was Zhang Yibing reporting.
Urban services and public participation took center stage at a sideline event of the 2024 Beijing Forum on swift response to public complaints.
The session focused on innovative strategies for addressing public needs and improving governance practices.
Participants shared insights and experiences on on fostering urban development through collaborative and inclusive approaches.
For more, Gao Jiawei spoke with visiting professor Marcus Vinicius De Freitas at China Foreign Affairs University on the role of shared responsibility and joint citizen contributions in enhancing urban governance.
Professor Marcus, you've been living in China for over five years, right?
How do you feel about China's city development?
I come from a big city, like the city of Sao Paulo, has millions of people, and I've been to many other places too.
they are quite crowded when it comes to citizens and when it comes to people.
Beijing is a fantastic place and one of the few cities in the world that you see government really acting in a very effective and active way to meet the needs of the population.
And usually when people think about governments, they always think about handling emergency cases.
places. Here now you have, you know, you're thinking about the citizen, you're also thinking about the foreigners, and you're thinking about the people that have incapacitations.
So I think it's quite unique what China is doing.
What's your perspective on the role of shared responsibility in joint citizen contributions in improving urban governance?
The city is the first contact that any citizen, that any individual has with his or her own citizenship now one of the fantastic things about Beijing for instance is the number of public spaces that you have parks and areas where people can walk because there is a very important place for rich and poor to live together and share this common space so when you start looking and to this idea of a shared space certainly you have to listen to all the segments that you have in a city.
If you look into the world, you will see that there is a diversity in everything you can think about.
And when you are managing a city, you have to ensure that this diversity that we have in people, in minorities, in backgrounds, whatever situation that they might have, that should be taken into consideration because that makes the life of the citizenship, of the citizen, much more pleasant.
And most importantly, trying to build consensus.
I know it's a very difficult thing when you have so many diverse opinions, but at the end of the day, what really matters is that opinions are heard and you reach a conclusion and that conclusion should be that the standard of living of everybody is going to be improved.
And I think if everybody has that interest, I think that, you know, no matter how diverse the city is and how diverse the population may be, they will always find a common ground.
That was Professor Marcus Vinicius De Freitas at China Foreign Affairs University.
Beijing's 12345 hotlines, the primary channel for residents in the Chinese capital to voice their concerns and complaints to the government.
Some residents shared their experiences with using the public service.
Because the classrooms at my child's school were not warm enough, I caught the 12345 hotline.
Someone got back to me very quickly.
I'm truly thankful for the immediate help they provided me.
For any other issues that I couldn't solve, I would call 12345.
Their service was excellent.
There was way too much noise from a construction site near our house, which also passed the allotted time.
So I called 12345, and the issue was resolved promptly.
An old neighborhood near our home was converted into a restaurant, and the noise from customers and air conditioning was unbearable.
So I called 12345. Although the process took some time, the problem was eventually resolved, ensuring our normal rest. On Double Eleven, I purchased something online, but I was unsatisfied with the product, and communication with the seller didn't go well.
well. The seller even shut down their chatbot service to me.
I then turned to 12345 to file this complaint, and they quickly contacted the seller to assist me with a refund.
Their service efficiency is truly commendable.
Beijing launched its public complaints reform in 2019, a system designed to provide efficient and responsive services for the public through the 12345 hotline.
That hotline runs 24 -7, processed over 150 million inquiries and complaints since 2019.
At 28 past the hour, Beijing's at minus 6 overnight, that's followed by cloudy skies and 4 degrees on Friday.
Nanchang's down to plus 1, then sunny in 12.
Elsewhere in Asia, Islamabad's at 4 this evening.
Friday, sunny conditions in 18 degrees.
Vientiane's down to 15 and then sunny in 27.
Phnom Penh's at 22 overnight and then sunny in 31 degrees Celsius.
It's time Time for a short break.
So far this hour, the Chinese presidents visited the Guangdong Macau in -depth cooperation zone in Hengqing.
The U .N. Special Envoy for Syria has called for free and fair elections in the country, and a youth delegation from Taiwan is visiting the Ice and Snow Festival in Harbin.
Shane Bigelman, stay with us here on The Beijing Hour.
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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 Bigham with you on this Thursday.
Still to come, in business, China's streamlining foreign currency management for multinational companies.
in sports, the FIFA Intercontinental Cup, in culture and entertainment.
A museum exhibition shows Macau's close ties with the maritime Silk Road.
To contact us, you can email radio at cgtn .com or follow our X account at cgtnradio.
Now, the day's headline news.
Chinese President Xi Jinping has visited the Guangdong -Macau In -Depth Cooperation Zone in Hengxin.
He had exchanges with Macau residents living and starting businesses in that zone.
and with people involved in the zone's planning, construction, management, and services.
President Xi also visited the Macau University of Science and Technology.
He learned about the development of two state -level key laboratories at the university and spoke with teachers, students, and scientific researchers.
The Chinese leader will attend a gathering marking the 25th anniversary of Macau's return to China on Friday.
He'll also be present at the inauguration ceremony for the region's incoming government.
Macau will swear in Sam Ho -Fai as the new chief executive.
A Chinese envoy to the United Nations says the Security Council should work toward a political settlement of the Korean Peninsula issue instead of imposing pressure.
Deputy Permanent Representative Gong Shuang was speaking at a Security Council meeting on North Korea's non -proliferation and military engagements.
The Chinese ambassador accused countries of manipulation in the region.
He also hit back at the United States, which he says has distorted China's stance.
As a responsible major country and a permanent member of the UN Security Council, China has maintained resolving differences based on principles of the United Nations Charter.
China has been supporting efforts at reaching a political settlement to tensions and regional conflicts.
No matter if it's the Ukraine issue or the issue on the Korean peninsula, China has been calling for peace, advocating dialogue and working for stability.
China will continue to do so and hopes the United States will play a positive role in bringing a solution to these issues.
Agong also warned that linking the matters in Ukraine and on the Korean peninsula will complicate efforts to resolve them.
Earlier, the UN chief of political affairs said that that international attention has recently focused on the reported increase in military cooperation between North Korea and Russia.
The North Korean ambassador to the UN denounced the U .S., which holds the Security Council presidency this month, for convening the meeting and accused Washington and its allies of illegal military intervention.
Russia's ambassador insisted that cooperation in all areas between Moscow and Pyongyang did not violate international law.
The UN envoy to Syria says that the country needs a political transition that will include the broadest range of Syrian society and Syrian parties.
Aguirre -Peterson says the process should take place under a UN resolution adopted in 2015 to help negotiate a political solution between the government of now deposed President Bashar Assad and the opposition.
We can now see the beginning of a new Syria.
A new Syria that in line with Security Council Resolution 2254, we'll adopt a new constitution that will ensure that it is a social contract, a new social contract for all Syrians and that we will have free and fair elections.
Yonvoy says the UN is hoping for close cooperation to move together on all the critical issues for Syria.
Peterson also warned of ongoing violence in parts of the country, particularly in the northeast, East, where Kurdish forces and Turkish -backed armed groups have clashed.
It's not yet clear if Hayat Tahrir al -Sham, the main former rebel group now in control of Syria, will pursue such a process.
The group has set up an interim administration that'll oversee the country until March. The United Nations says a ceasefire in Gaza is long overdue after the deaths of more more than 45 ,000 Palestinians, and 1 ,700 Israelis.
Israel and Hamas appear to be moving closer toward a deal to stop fighting.
Hamas says it's prepared to be more flexible on the timing of an Israeli troop withdrawal from Gaza.
The Israeli defense minister said that a deal is closer than ever.
Mediators have reported greater willingness from both sides to wrap up an agreement.
Despite the optimism, U .N. Assistant Secretary General for the Middle East Mohamed Khaled Kiari said the collective punishment of the Palestinian people is unjustifiable.
for the Palestinian population there.
The official also condemned Hamas for attacking Israel and holding hostages.
Israel's UN ambassador said the captives are living in dire conditions.
European unions welcomed the reforms in Western Balkan countries but warned they're not ready to join the EU.
Progress for the accession was the focus of a meeting between leaders from the region and the EU.
European Council President Antonio Costa said he remains confident in the bloc's expansion.
We have seen significant progress in the past year, particularly by Montenegro and Albania.
And during this summit, I noticed a collective sense of responsibility and the new drive to work harder and faster.
So we should use the new momentum to the fullest and create all the conditions necessary for enlargement.
European Commission President Ursula von der Leyen said they'll back the reforms with pre -financing of more than 300 million euros.
This is Shane Biggum in the Chinese capital.
Coming up in business, China's streamlining foreign currency management for multinational companies.
China's embattled housing market has shown signs of positive momentum as a growing number of major cities reported increases in home prices and transaction volumes, some for the first time in more than 18 months.
Does it mean the Chinese property sector has begun to bottom out and reverse the slumping trend?
What internal and external risks are ahead?
How may the authorities deal with the situation if things fall short of expectations?
expectations. Check it out on this week's chat lounge on your favorite podcast platform and CGTN radio.
At 38 past the hour, in business, stocks on the Chinese mainland closed mixed on Thursday.
The Shanghai Composite Index fell by four -tenths of a percent, while the Shenzhen Component Index rose by six -tenths of a percent.
The U .S. dollar hovered near a two -year high on Thursday after after the U .S. Federal Reserve signaled that it would slow the pace of rate cuts next year, despite announcing a 25 -basis -point reduction.
Hong Kong's Hang Seng Index declined by 0 .6%.
In Japan, the Nikkei 225 closed down 0 .7%, while South Korea's KOSPI dropped by 1 .8%.
China's monetary authorities have introduced a pilot program to streamline the management of foreign currency for foreign companies.
The initiative is designed to facilitate cross -border investment and financing for these companies.
It focuses on reducing corporate financing costs and improving the efficiency of capital utilization for multinational firms. The pilot program will encompass 10 regions, including Beijing, Shanghai, and Zhejiang.
The Commerce Ministry says China will take steps to firmly protect the rights and interests of Chinese companies.
The statement is in response to the European Union's 15th package of sanctions against Russia, which includes a list of Chinese companies and individuals.
The ministry stressed that the sanctions have no foundation in international law and lack authorization from the UN Security Council.
China's tourism market has seen a surge following the announcement of an extended visa -free transit stay.
Searches for inbound hotels and flight tickets have increased by 87%, while booking orders during the New Year's Day holiday have surged fivefold.
I think the visa -free policy is good because, you know, it's more convenient.
You can just buy a ticket and fly there, and the process is very quick.
It only takes a few minutes.
So yeah, for me, it's very convenient.
I started to travel to China once they had the free visa policy.
Yeah, I'm excited to come here to see some sights here in China and hopefully to come and experience it for a longer period of time in years to come.
On Tuesday, China announced a significant relaxation of its visa -free transit policy, extending the permitted stay for eligible foreign travelers to 240 hours or 10 days, and that's up from previous allowances of three to six days.
China's international aviation markets experienced a robust recovery this year, with passenger traffic on international routes surpassing 60 million, marking a yearly increase of over 130 percent.
The country now operates 6 ,000 weekly international flights, with overall international flight connectivity reaching around 88 % of the levels seen in 2019.
Routes to Africa and Latin America have already surpassed pre -pandemic levels, while flights to Asia, Europe, and Oceania have recovered to around 80 % of their 2019 capacity.
capacity. Shenzhen's foreign trade grew by 17 % in the first 11 months of the year, surpassing 4 trillion yuan.
That's roughly 560 billion U .S. dollars.
Exports from the southern city increased by 16 % to 2 .6 trillion yuan, while imports grew nearly 20 % to 1 .5 trillion.
The top three trading partners were ASEAN, Hong Kong, and the United States, together accounting accounting for over 40 % of Shenzhen's total trade volume.
Shenzhen's trade with Belt and Road partner countries reached 1 .4 trillion yuan, marking an increase of over 20%.
A major driver of Shenzhen's continued foreign trade growth is the thriving cross -border e -commerce sector.
The city is home to more than 150 ,000 cross -border e -commerce export enterprises, prices, including 13 listed companies ranking it first among all Chinese cities.
The U .S. Federal Reserve has reduced interest rates by 25 basis points, marking the third consecutive cut in this easing cycle.
This also represents the final rate reduction under the Biden administration.
Jim Spellman has more.
This is the third consecutive rate cut after a 0 .5 % cut in September and a .25 % cut in November.
A quarter point cut means rates are now a full point lower since the Fed began cutting rates in September.
The move comes as the U .S. has experienced strong economic growth and a robust labor market, but inflation remains an issue.
Though well down from the peak of about 9 % in 2020, inflation in November ticked up to 2 .7%.
the Fed target is 2%.
The economy is strong overall and has made significant progress toward our goals over the past two years.
The labor market has cooled from its formerly overheated state and remains solid.
Inflation has moved much closer to our 2 % longer run goal.
The Fed has also announced it expects two rate cuts in 2025.
That's down from previous projections that suggested four rate cuts were coming next year.
That's a signal that the Fed expects inflation to remain an issue.
This is the last meeting of the Fed before Donald Trump is sworn in as president.
It's unclear how the situation will change under the incoming Trump administration.
Trump says he won't remove Fed Chief Jerome Powell, who he appointed to the post in 2018.
Trump has said he wants input on setting rate cuts, a major shift from the independents traditionally enjoyed by the Federal Reserve.
And Trump has been clear he likes low rate cuts to juice the economy.
Another thing to keep in mind, some of the policies Trump is promising, including tariffs and mass deportations, could have a major impact on the economy in 2025 and could impact the Fed's decisions next year and beyond.
Consumers are not likely to see major changes right away.
Since the Fed began cutting rates in September, credit card rates, car loans have dipped slightly, but mortgages have remained relatively unchanged.
And those relatively high mortgage rates, between 6 % and 7%, have played a major role in why so many Americans are struggling despite a relatively strong economy.
That was Jim Spellman reporting.
On Thursday, the Bank of Japan decided to keep interest rates unchanged in a nearly unanimous vote.
The central bank maintained its benchmark short -term policy rate at 0 .25 percent.
The bank said it expects consumer inflation to pick up in 2025 amid a cycle of higher wages and increased private consumption.
The effects of recent government subsidies to lower living costs are also expected to wane in the coming year.
The decision follows two interest rate hikes earlier in the year, marking the end of nearly a decade of ultra -loose monetary policy.
Analysts who had anticipated the December hold suggests that the Bank of Japan is likely to raise rates further in the coming months, with the next increase potentially occurring as early as January.
Annual inflation in the Eurozone rose for the second consecutive month in November.
The European Central Bank lowered interest rates last week and signaled that further cuts may follow.
William Denzel reports.
Inflation across the European Union's single currency zone ticked up to 2 .2 percent in November, up from two percent the month previous.
According to the EU Statistics Office Eurostat, Luxembourg, Ireland and Lithuania posted the lowest annual inflation levels.
Belgium was among the highest seeing inflation tick up to 4 .8 percent.
Germany, Europe's largest economy saw inflation hold steady for the month at 2 .4 percent.
Looking at the wider European Union, November's average consumer prices ticked up to 2 .5 % compared to 2 .3 % in October.
November's top -line inflation figure came in slightly lower than analysts expected.
The European Central Bank has cut interest rates four times this year and says that efforts to ease price pressures are going according to plan.
While the ECB's President Christine Lagarde says it's too early to declare mission accomplished, she says the darkest days of winter look to be behind us.
Back in 2022, inflation hit a record high of 10 .6%, fuelled by the lingering impact of Covid -19 and the war in Ukraine.
Now the ECB predicts inflation to hit 2 .1 % next year, before dropping below its benchmark rate of 2 % in 2026.
Lagarde has signalled that there'll be more rate cuts in the coming months, but maintains that any decisions will be data dependent.
That was William Denslow on the Eurozone's inflation figures.
You're listening to the Beijing Hour, coming up in sports, the FIFA Intercontinental Cup.
The year of 2024 is about to come to an end.
What was the biggest sporting breakthrough for China, who stood out as the best athletes of the country in the past year?
Find out more in our latest discussion at Sideline Story.
Thank you, Shane. We begin with football from the FIFA Intercontinental Cup.
Real Madrid claimed the title after beating Mexico's Pachuca 3 -0 in the final.
Kylian Mbappe, Rodrigo and Vinicius Jr. scored a goal each as Madrid became the most successful club in the competition with four titles.
It also won in 1960, 1998 and 2002.
Vinicius showed gratitude to his team -mates.
Thank you very much. It's been a very nice week, very important for me and for all the players who have played with me since I was a child.
And above all, to the Real Madrid players, who have done everything for me.
They welcome me, they help me every day to do great things for the team.
And for this great club, that is Real Madrid, and I hope we can continue like this for a long time.
De Wijn also makes Carlo Ancelotti the most decorated coach in the club's history.
11 of his titles with Madrid have come in his second stint with the club, which began in 2021.
Four of them, including a Champions League title, came during his first time with Madrid from 2013 to 2015.
Ancelotti spoke highly of the team and the club, saying winning titles at Real Madrid is easier than doing it at any other club.
Winning titles at Real Madrid is easier than winning them elsewhere.
Because Real Madrid has a fantastic club, a fanbase that pushes, and a squad with the best players in the world.
So winning titles here is easier than elsewhere, and that is bear in mind that winning titles is not easy.
Pachuca has never won the title which brings together the champions of all six soccer confederations.
Defending EFL Cup champions Liverpool have reached the semifinals of the event with a 2 -1 victory over Southampton.
first half goals from Darby Nunes and Harvey Elliott were enough to overcome Southampton despite Cameron Archer pulling one back just before the hour mark head coach John Slaught is satisfied with the performance of the players including the youngsters we have already a few starters from our academy and to see these players that train with us on a daily basis we know their quality and it's nice to see that they show on Premier League level that they can easily play at this level the thing for them is it's not about easily play at this level You have to compete with Mo, Virgil and all these kind
of players, so it's not enough to be good enough to play at this level, you have to be good enough to play for Liverpool and that is probably the next step they have to make.
The Reds are targeting a record -extending 11th triumph in the competition.
In other quarter -finals, Arsenal beat Crystal Palace 3 -2.
Gabriel Jesus scored a hat -trick and won praise from manager Mikel Latteta.
I'm so pleased for him.
It's been a long period for him without goals and to score the three goals, the three type of goals that he scored as well.
And many actions that he was involved.
He looked really sharp.
I think it's a great thing for him.
It's a great thing for the team as well that we can rely on a player of such a quality.
The same with Kieron, the same with all the players that haven't started many games and today they had the chance to do so.
Arsenal have not won the competition since 1993 when they defeated Sheffield Wednesday 2 -1 and have finished as runners -up three times since.
Milwaukee Bucks head coach Doug Rivers has expressed satisfaction and confidence after the team winning the NBA comp title They beat OKC 97 -81 in the final It reminds us that we can beat anybody And we don't care if it tells everybody else that We only care about us It's what I said in the first day of camp I also said we can lose to anybody if we don't play right, right?
I thought we learned that lesson early So I think it just helps the messaging That when we play right, when we play together listen that's an excellent defensive team and they forced Dame and Giannis to pass the ball and they did that and then they passed it so much they stopped helping and then those two got to work I think this is a teacher for us is different ways to win Giannis and Tocompo scored 26 points to go along with 19 rebounds and 10 assists in the victory all those feelings leading up to the game is what makes the win even better I'm so proud of the the group everybody was extremely
locked in We came in, we were focused, played great basketball, and we were able to win this game.
We had this goal as a team, and we accomplished it.
Brook Lopez and Gary Chen Jr. each scored 13 for the Bucks.
Shea Guge's Alexander scored 21, and Jalen Williamson added 18 for the Thunder.
In tennis, China's Shangjun Chen fell 3 -1 to French player Luca Van Aschi in the first round of group stage matches of this year's next -gen ATP finals in Jeddah, Saudi Arabia.
This marked the 1980s debut at the event.
After dropping a close first set in the tiebreak, Sean leveled the match by taking the second set.
But he struggled to maintain his momentum, eventually losing the match in four sets.
And finally, Mexican driver Sergio Pérez has expressed thanks to his fans and his former Red Bull team on social media.
Pérez has left Red Bull after four years together, having reached an agreement to part ways with immediate effect.
Pérez joined Milton Keynes' outfit in the 2021 season and helped them claim two Constructors titles in 2022 and 2023, winning five races with the team.
Earlier this year, the 34 -year -old signed a new deal to race for the team until the end of 2026, on the back of his strongest season ever in 2023, when he finished second on teammate and champion Max Verstappen.
But his form tailed off after signing that deal, and the Mexican scored just nine points in the last eight Grand Prix weekends of the 2024 season.
Red Bull said it will make further announcements regarding the driver lineup for next year in the due course.
Thank you very much. That was Yang Guang with sports.
Coming up in culture and entertainment, a museum exhibition shows Macau's close ties with the Maritime Silk Road.
You're listening to the Beijing Hour.
60 minutes of comprehensive news.
Your window on China and the world.
It's 53 past the hour.
Four famous bronze animal heads from Beijing's Old Summer Palace are on display at an exhibition at the Poly MGM Museum in Macau.
The new cultural landmark has recently lifted its curtains, coinciding with the 25th anniversary of Macau's return to the motherland.
The inauguration exhibition features over 200 artifacts and artworks that showcase Macau's close ties with the Maritime Silk Road.
Zhang Mengyuan reports.
The PolyMGM Museum, a collaboration between PolyCulture and MGM, has debuted its first exhibition titled The Maritime Silk Road, Discover the Mystical Seas and Encounter the Treasures of the Ancient Trade Route, showcasing 228 valuable artifacts, including nearly 30 first -class national cultural relics.
These include four bronze statues of the animal heads of the 12 zodiac signs from Yuanming Yuan or the Old Summer Palace.
The exhibition is designed around the theme of time, showcasing the origins, development, impact and future of the maritime Silk Road through four thematic spaces, monsoon, cultural origin, integration and connections.
actions. Our inaugural exhibition focuses on the maritime Silk Road, as Macau is a pivotal node on this route.
Many of our handicrafts and cultural enterprises have ventured overseas for centuries.
Now in this new era, we can continue this legacy as part of China.
The monsoon section narrates the journey of humans from the reverence of the ocean, to understanding it and ultimately to navigating across it thus embarking on maritime explorations of the world the cultural origin section outlines the characteristics of the maritime Silk Road through archaeological perspectives as a representative of late 19th century Cantonese exported porcelain a plate from the Qing Dynasty vividly narrates the history of cultural exchanges between East and West, viewers can clearly observe the Persian style decorations and inscriptions on the porcelain.
Strolling through the museum, the space transforms from a static container into a dynamic vessel of art.
The museum uses technology to make artifacts tangible and communicative.
We aim to demonstrate how we can use our own strengths to incorporate various elements of Chinese culture to enhance exchanges.
changes. We seek to leverage Macau's unique advantages, backed by our motherland and connected to the world, to promote and preserve aspects of our Chinese heritage.
The institution hopes visitors will gain a renewed understanding of Macau's history and the role it played in the maritime silk road, thereby deepening their appreciation of Macau's culture and China's as a whole.
That was Zhang Mengyuan reporting.
The deputy The deputy mayor of Athens has emphasized his city's deeply rooted relationship with China.
During a visit to Beijing, Andreas Grema Tjanis highlighted the strong cultural exchange between the two civilizations.
Athens is China -ready and China -friendly.
Since 2005, we have twin agreements between Athens and Beijing.
In January, we are also signing agreements with Shanghai.
We have a big Chinese community in Athens.
and we are in constant discussion with them in order to promote cultural events in schools of Athens related to Chinese culture.
He cited the successful Sino -Hellenic International Theatre Festival and ongoing collaborations between art institutions.
The deputy mayor also expressed hope to further strengthen the bond between Athens and China, focusing on economic cooperation and cultural exchange.
change the sixth lansung mekong international film week is underway in phnom penh the capital of cambodia the event will screen around 20 films made in lansung mekong basin countries it marks the festival's first time taking place outside of china's yunnan province an academic exchange and a film cooperation seminar will also take place during this film week all right 28 past the hour checking the forecast before we go for the day and Beijing's down to minus 6 overnight.
That'll be followed by cloudy skies and 4 degrees on Friday.
Manchung's down to plus 1.
It's sunny and 12 degrees tomorrow.
Elsewhere, Islamabad's down to plus 4.
Friday has sunny skies and 18 degrees.
Vientiane's dipping to 15 and then sunny and 27.
Phnom Penh's 22 overnight and then sunny and 31.
In Africa, Nairobi will see a slight rainfall and 27 degrees on Friday.
Kampala's down to 19, then sunny and 27.
seven. And finally to Oceania, Port Vila, 24 overnight, then cloudy in 31.
A Pee, it will see moderate rainfall Friday and a high of 26 degrees Celsius.
And that's it for this edition of the Beijing Hour.
Making news today, Chinese presidents visited the Guangdong -Macao In -Depth Cooperation Zone in Hongqing, and the U .N. Special Envoy for Syria has called for free and fair elections in the country.
On behalf of the staff, this is Shane Biggum in the Chinese capital, Hoping you'll join us for the next edition of the Beijing hour and open a window to the world together.
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Hello everybody, welcome to Roundtable Coming to you live from Beijing Roundtable Roundtable Roundtable Connecting China and the world We bring you fun and timely discussions about what's affecting our lives everywhere, every day Tune in to Roundtable Where the East meets the West and understanding is the goal 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 made a difference footprints brings you the true life stories of their journeys china's embattled housing market has shown signs of positive momentum Lamentum.
A growing number of major cities reported increases in home prices and transaction volumes, some for the first time in more than 18 months.
Does it mean the Chinese property sector has begun to bottom out and reverse the slumping trend?
What internal and external risks are ahead?
How may the authorities deal with the situation if things fall short of expectations?
Check it out on this week's Chat Lounge, on your favorite podcast platform, and CGTN Radio.
