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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 Wednesday, December 11th, 2024.
We're listening to The Beijing Hour coming to you live from the Chinese capital.
On today's program, South Korean lawmakers will vote on a second impeachment motion against the country's president this weekend.
Macau's outgoing chief executive says China's one country, two systems principle, has ensured stability and development in the region.
The Israeli Prime Minister has testified at his corruption trial in accord in Tel Aviv.
In business, China's marking 23 years of membership in the World Trade Organization.
In sports, Real Madrid earns a much -needed win in Champions League play and culture and entertainment highlights from the now -concluded Hainan International Film Festival.
Now checking the day's top stories.
South Korean lawmakers are set to vote again this weekend on the opposition's move to impeach President Yoon Seok -hyul.
This follows the arrest of the country's police chief in connection with President Yoon's failed martial law declaration.
A special investigation unit says it's raided the presidential office, the national police, the Seoul Metropolitan Police and the National Assembly.
The police have also entered the Joint Chiefs of Staff headquarters.
The head of the Corruption Investigation Office for High -ranking Officials says the CIO will attempt to arrest Yoon with or without a warrant if conditions are met.
In the meantime, the former defense minister has attempted suicide at a detention facility following his arrest.
Jack Barton has more from Seoul.
Every day now there seems to be so many moving parts to what is still a story that is shocking.
South Koreans, people stunned with the news that the former defense minister Kim Yong -hyun had tried to commit suicide at the detention center where he is being held east of Seoul.
Now he has tried to take a lot of the responsibility for what happened, saying it was sort of all his fault and asking for subordinates to be given a sort of a pass because he was ordering them to do things.
And he has tried to take some of the limelight off of President Yoon Song -yal.
But while he was the first to be arrested, the picture is emerging that Yoon may have actually been the ringleader.
But as all these charges mount, of course, his attempted suicide bid, according to local media, it happened in the bathroom at the detention center.
Somehow he got his hands on some cord.
But the injuries he received were not life -threatening.
Somebody spotted him very quickly, and he's now being observed in a secure facility, and they plan to keep him there for the time being.
From a press conference from the Law Association here, and they say the evidence is fairly compelling.
That what Yoon did did amount to insurrection.
As we hear more and more testimony from those involved, it seems more and more likely that he will be charged as a ringleader.
That does not have presidential immunity, and it can carry an indefinite jail term.
In fact, it can carry a potential death sentence.
However, he's still in office.
That could be the case for a long time.
Because the lawyer said under Article 71 of the Constitution, if there is any chance that the president may return to office, he can remain as president.
So even if he is charged, he can remain as president unless ultimately he is found guilty in a court trial.
Even if he is impeached, he can still remain president until the constitutional court investigates the impeachment motion and a majority of judges rule off on it.
That was Jack Barton with the latest on South Korea's political turmoil.
And for more on the situation in South Korea, Philip Hampshire spoke to Dr.
Wong Son -Tik, an adjunct professor at Sogong University.
These arrest warrants were issued for several officials.
So how are these warrants going to impact the current situation?
It is true that we have a serious aftermath since the sudden declaration of martial law by President Yoon Seok -kyul.
But we are trying to fix it peacefully and legally.
And I believe we can fix it without any trouble, including bloodshed.
Because I believe the level of democracy in Korea is quite high and the society is relatively calm and quiet.
I can say there was no particular disorder or noises since the insurrection or attempt and then failure happened eight days ago.
South Korea's parliament has already passed a resolution that calls for the immediate arrest of the president.
So I've got to ask, does that actually have any legal effect in this particular situation or does everyone have to wait for the police authorities to catch up?
Actually, the parliament adopted a resolution to demand the arrest of the president as soon as possible.
It is a demand, not a binding order.
So the resolution has a legal effect, but it does not have any immediate implementation.
And the parliament passed a similar resolution yesterday that is about an introduction of special counsel investigation in parliament.
Parliament did it by the lawful process, and it has definitely a legal effect again.
They will establish a special counsel investigation team sooner or later.
Anyway, law enforcement institutions are doing that in the same direction.
So I think there is not much noises.
He's already had an impeachment motion against him.
So that impeachment motion failed the first time around.
The opposition party is saying they're going to keep bringing it once a week, every week in order to hammer the point home.
How does the country break that kind of political deadlock?
Actually, I think the impeachment motion will be reported today, the second time, and the vote will happen on Saturday.
I think there is a half and half possibility to pass this time because some members of ruling party have showed willingness to support impeachment.
Actually, if there is more than five members of the ruling party supporting the impeachment, the impeachment will be passed.
We have democratic processes and legal processes to resolve this kind of problems.
We have currently following the processes, according to the Constitution and laws.
Law enforcement institutions are doing formal investigations of the insurrection and making arrests of major criminals.
I believe they will arrest the president in the near future, and we will have an emergency presidential election for a new president several months later.
So it is tomorrow now, but we are going through it peacefully and orderly.
And I believe we can finish it in several months, probably until next May without any bloodshed.
That was Dr. Wong Son -Tek, an adjunct professor at Sogang University, sharing his insights on the situation in South Korea.
Syrian ministers from the newly formed transitional government have met with members of the ousted Bashar al -Assad administration to organize the transfer of state institutions that ensure the continuity of public services.
Caretaker Prime Minister Mohammad al -Bashir says the general leadership is tasked as cabinet to manage the country's affairs until March of next year.
The transitional government aims to assume control of ministries, reintroduce employees to their posts, and restore essential services across Syria.
Fighting among different forces continues within the country.
A Turkish security source says the National Intelligence Agency of Turkey destroyed military supplies under Kurdish control in northeastern Syria, including 12 trucks, loaded with missiles and heavy weapons.
Israel has ordered its forces to create a defense zone in southern Syria.
Its military has confirmed that it carried out attacks on Syria's navy.
But the Israel Defense forces denied that it's advancing towards Damascus.
Philip Crowther with the Associated Press has more from the Syrian capital.
Look, it's been a remarkably peaceful and orderly transition here in Damascus so far.
At the head of this interim government now stands, Mohammad al -Bashir.
He was the leader of Idlib province.
This was even while Bashar al -Assad was still in power here in Damascus.
That is precisely where the insurgency began that made its way so quickly here to Damascus.
The insurgency, of course, led by Hayat Tahir al -Sham, or HTS.
Now, al -Bashir was at that government meeting that happened here in Damascus yesterday that included a lot of government ministers from the time still of Bashar al -Assad.
There were four ministers missing, including those of defense and foreign affairs.
Still, it is quite remarkable to see this transition ongoing.
The outgoing Prime Minister Jalali also at that meeting here in Damascus, you might remember, very significant moment in this swift overthrow of the leadership of al -Assad here in Syria.
Was that video put out by the Prime Minister Jalali saying that he was going to stay put despite Assad fleeing the country, that he would want to be part of an orderly transition, and he very much now is.
That was a Philip Crowther in Damascus.
The international communities criticized Israel's military actions in Syria.
The Turkish foreign ministry says it strongly condemns Israel's entry into the Golan buffer zone and its advancement into Syrian territory.
The United Arab Emirates says Israel violates international law, especially the 1974 disengagement agreement between Israel and Syria.
Qatar says it is unacceptable for Israel to exploit the current situation in Syria and violate its sovereignty.
A top international law analyst says Israeli and U .S.
bombing in Syria after the collapse of the Bashar al -Assad government risks further destabilizing that struggling country.
Professor Mary Ellen O 'Connell with the University of Notre Dame has closely studied the conflicts in Syria and the Middle East since 2011.
Now we're seeing outside states at this next most critical and uncertain time come in again.
Israel is bombing. Israel has sent tanks for the first time since 1973 across the occupation line that it holds since 1967.
It looks like it may take advantage of the chaos right now to take more territory from Syria.
The United States is bombing.
The United States has had troops stationed in Syria since the Trump administration.
Those troops are in a very vulnerable, very dangerous situation.
And this bombing that the United States has carried out quite extensively is only adding to the chaos.
Analysts say the latest situation in Syria has left U .S.
President Joe Biden's outgoing administration having to delicately maneuver through yet another volatile moment in the Middle East.
Meantime, President -elect Donald Trump has demanded that the U .S.
tread carefully in the region and stay out of the fray.
Tens of thousands of Syrian asylum seekers are in limbo after some European countries put their applications on hold following the fall of President Bashar al -Assad and his government.
Evangelos Sipsis has more from Athens.
What started as a moment of celebration for thousands has quickly turned into a cloud of worry.
Syrians abroad who initially embraced the change in leadership are now left grappling with questions such as what the future might look like.
A number of European countries decided to put on hold asylum applications for thousands of Syrians.
A completely wrong move.
Syria is unstable, facing hunger, poverty, ruined infrastructure and no basic resources like electricity or water.
We don't know what to expect.
If asylum was needed before Assad, it's needed even more now.
The future for Syrians and our country is entirely uncertain at this point.
With so much uncertainty about Syria's future, governments across Europe are scrambling to figure out their next steps.
The political landscape has shifted and policies for Syrians seeking asylum are being rethought.
On Monday, several EU countries including Germany, home to an estimated million Syrians, Austria, Sweden, Greece, the United Kingdom and the Netherlands, decided to pause asylum applications.
More nations are expected to follow.
The decision impacting tens of thousands of pending claims comes amid growing support across Europe.
Some governments are pushing for stricter immigration controls, including deportations.
A move that the United Nations finds worrisome.
It's extremely important that we don't see any action from any international actor that destroys the possibility for this transformation in Syria to take place.
As the future of Syria hangs in balance, so does the fate of thousands who are seeking safety abroad.
For now, Syrians face an uncertain road ahead, caught between a better tomorrow and the harsh realities of shifting asylum policies across Europe.
That was Evangelo Sipsis reporting.
The UN Refugee Agency says it's accompanying Syrian refugees from neighboring countries, including Lebanon, or encouraging them to return home.
Senior UNHCR communications adviser Ula Amin says there are two sets of obstacles for the 5 .5 million Syrian refugees.
One is safety and security, and one is the living conditions.
However, there are new risks that are emerging that people are trying to assess.
Now, the other set of conditions that the refugees have identified and that is related to living conditions are many of their homes have been destroyed.
The infrastructure in Syria had been destroyed.
There is a very serious challenge in accessing services like electricity, water, schools, health facilities.
It's all been impacted by the 14 years, almost 14 years of crisis.
The UN agency says it's been working with all the different stakeholders and the Syrian government to try to facilitate the safe return of refugees and provide them the living conditions they need.
Coming up, Macau's outgoing chief executive notes the success of China's one country, two systems principle.
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Fifteen minutes past the hour.
The outgoing Macau chief executive says the support for the one country, two systems principle secures stability and development in the special administrative region.
Ho Yat -sung made the remarks ahead of the 25th anniversary of the city's return to China.
I had been in office for five years now.
Soon after taking office, the epidemic broke out.
We acted quickly and established an effective prevention and control mechanism.
We have strengthened cooperation with the mainland.
We have withstood the most severe impact since the reunification.
But thanks to the high -level support for one country, two systems, strong support from the central government, Macau has maintained stability and development.
In the first three years of administration during the pandemic, the work on the economy and people's livelihood could not stop.
We used this time to vigorously promote infrastructure development and make up for some shortcomings.
For example, we beat the Macau branch of Peking Union Medical College Hospital that covers 430 ,000 square meters.
Then the construction of the new public security police headquarters, customs headquarters and other office buildings.
We strengthened connectivity with the mainland and other places to prepare for all customs circulation in Macau.
When you said the regional government's maintained sound fiscal reserves, providing strong guarantee for infrastructure and other projects.
He also said that the government's increased welfare input for the people during COVID -19 instead of reducing it.
The regional leader added that they've been providing houses for those in need and implementing a policy of free education and health care.
The current Macau SAR government has a fiscal surplus of around 6 billion U .S.
dollars. Thursday marks the 10th anniversary since the middle route of the South to North Water Diversion Project started supplying water.
The project diverged water from southern China to feed dry areas in the north, including Beijing.
Its middle route plays an important role in feeding water to the Chinese capital.
Xiaotray Xue has more on the efforts made to ensure that the water source stays clean.
Clean and safe water running through the Tao Cha Canal head.
This is the starting point of the middle route of South to North Water Diversion Project in Nanyang, central China's Qana Province.
Kang Jingwei is checking if the water in the canal head is clean or not.
These waters were 1 ,432 kilometers northward towards the capital Beijing.
It looks quite clean.
The water is being monitored automatically by our machines every day.
Once every month, I'll be taking some to the lab for further tests.
China's Water Diversion Project was designed to draw water from central China and supply it to the dry north.
The middle route began supplying water on December 12, 2014.
Water from the Danjangkou reservoir runs across Hunan and Hebei provinces through a man -made channel before reaching Tianjin and Beijing.
In the past ten years, he has transferred over 68 billion cubic meters of water, benefiting over 100 million people.
President Xi Jinping paid a visit here in 2021.
He emphasized the importance of the project and water conservation, who will ensure the safety of the project, the security of its water supply and the quality of its water.
The middle route begins at Danjangkou reservoir between central China's Hubei Province and Hunan Province.
Protecting the water quality of this reservoir is essential for the project's sustainability and the safety of its water resources.
China has implemented a series of stringent policies, ecological restoration projects and advanced technologies to maintain the pristine water quality of the Danjangkou reservoir.
Ten years ago, my workload was heavy.
We had to collect two to three tons of garbage, like bottles and cans in the reservoir every day.
Now, there are only some tree branches and grass in the water during the flood season.
Notable changes can be seen.
During our enforcement activities, we have noticed a significant decrease in illegal activities in the reservoir.
People want to safeguard and protect the water.
There are 13 automatic water quality monitoring stations along the canal.
Kang Jingwei works at the first and largest station for monitoring the water quality of Danjang water as he enters the main canal.
It conducts six monitoring sessions daily, measuring 101 indicators in each session, with measurements taken every four hours.
Now, the water in the main canal can meet at least the grade two national standard for surface water quality.
Today, the water diversion project serves as vital lifeline in the north.
The extension of the middle and eastern routes is allowing the project to benefit more regions.
That was Xiaorei Xue reporting.
A county in northeast China is leading the way in transforming its traditional industries.
Wafangjian in Liaoning province is well known for producing bearings.
The county is embracing cutting edge innovations and making progress with green energy solutions.
And Li Shuang visited a local factory to find out more.
At this factory in Wafangjian, precision and technology come together.
Bearings essential for reducing friction and enhancing efficiency in machinery are now tailored for some of the world's most advanced systems like railways, wind power and mining.
We have invested 344 million U .S.
dollars over the past five years in factory renovations and digitalization.
We have largely adopted intelligent manufacturing in the production of rollers, utilizing robots, digital analysis and automated assembly to ensure product quality.
Wafangjian has been a cornerstone of China's bearing industry for decades.
Now, it's aiming for making another breakthrough in high -speed railway bearings.
In passenger train bearings, high -speed trains traveling at speeds of 160 kilometers per hour or above currently rely entirely on imports.
Domestic bearings are primarily used in trains operating at speeds below 140 kilometers per hour.
But this will change starting in 2025, as bearings produced in Wafangjian will be used in high -speed passenger trains.
This further demonstrates the precision and reliability of the bearings manufactured here.
Our company has a history of 86 years.
Their heritage Wafangjian manufacturing is incomparable to any other region.
Wind power is one of the fastest -growing renewable energy sources in China.
This wind farm in Wafangjian generates 700 million kilowatt hours of electricity annually.
Locally manufactured bearings ensure these massive turbines can withstand harsh offshore winds.
Our annual operating profit is approximately US $14 million, with around US $2 million contributed toward local tax revenue.
Our Zhonghai wind power project is currently ranked number one in the Dalian region for annual power generation.
In 2023, Wafangjian stands tall as the only county in northeast China, with an annual GDP exceeding 100 billion yuan, approximately US $14 .3 billion.
Bearing production and green energy are major contributors to its local economy.
By combining industrial legacy with innovation in intelligent manufacturing, Wafangjian is not only powering the manufacturing sector, but also cementing its status as a critical economic driver in northeast China.
That was Li Shun reporting.
Three giant pandas born in Belgium's Pāri Dai Zhe Zoo have arrived in China and are now under quarantine in Yian Sichuan Province for a month.
Eight -year -old Tian Bao with twins Bao Di and Bao Mei, born in 2019, completed a month -long quarantine in the zoo ahead of the journey.
Hundreds of pandas lovers gathered to bid farewell to the trio before their departure.
One local woman said that it was not only a chance to say goodbye, but also a time to recollect the joyous memories the pandas have brought them over the years.
The panda's siblings will soon begin their new lives at the giant panda base in Sichuan Province.
China and Belgium signed a 15 -year international cooperation agreement on giant panda protection back in 2013.
The parents of the three siblings went to Belgium in 2014.
Coming up, the Israeli Prime Minister has testified in his corruption trial in Tel Aviv.
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25 past the hour now.
Israeli Prime Minister Benjamin Netanyahu has testified in court in Tel Aviv in a corruption trial.
He is the first sitting Israeli leader to take the stand as a criminal defendant.
Netanyahu has promised to knock down the corruption allegations against him.
The Israeli Prime Minister is already facing an international arrest warrant as he is accused of committing war crimes in Gaza.
Jonathan Regev has more from Tel Aviv.
The prime minister is testifying in a court that's quite a big event.
These are the easier days for Netanyahu.
Why so? At this time he is now standing against the defense trials, against his, the defense lawyers, against his own attorneys come January in a few weeks time.
Then Netanyahu will stand in front of the prosecutor and that of course will be much more challenging.
But it was quite a big day here.
Protesters from both sides, those supporting Netanyahu, those opposing Netanyahu, they were here.
There were no clashes reported but quite a massive police presence.
A lot of people from both camps, Benjamin Netanyahu clearly a controversial figure.
For some, the biggest head of state that can be and for others the biggest evil that can be.
And when he comes to testify he just shows once again the very big divide that exists in Israeli society.
I have been waiting eight years for this day to present the truth.
I have been waiting to finally blow up the deluded and absurd charges against me.
For eight years I have been waiting to reveal the method, a brutal hunt against me because these investigations were born in sin.
There was no offense, so they were looking for an offense.
They haven't found a crime, so they invented one.
How come then he tried to delay this testimony again and again and again?
These are some of the questions that he has been asked and will be asked.
The first day of testimony now is over, tomorrow, another day of testimony a very dramatic time for Israel as a sitting prime minister.
For the first time, as you mentioned, sitting in court coming to testify as someone who was put up for trial.
That was Jonathan Regev reporting.
A senior UN humanitarian official reaffirmed the importance of political will to restore law and order in Gaza.
Seagred Kog was speaking after briefing the UN Security Council.
There is no substitute, no system can and will substitute or compensate for an absence or lack of political will.
This is political, political will and political choice.
This you cannot ask of the UN, of the humanitarians.
This is where member states and the parties are at play.
She highlighted that Gaza needs a restart for the commercial sector.
People want to buy, they want to see a great diversity of goods and we need to keep pushing for a broadening of what is considered dual use goods.
But we cannot meet the needs of civilians in Gaza, even through a humanitarian pipeline, as much as it can be ramped up and scaled up without the commercial sector.
It is simply not possible.
UN official also called for clarity on the governance and security arrangements for the Palestinian enclave.
At 28 past the hour, Beijing is down to minus three overnight followed by cloudy conditions and plus three on Thursday.
Nine chunks down to five and then a light rainfall in nine degrees.
Elsewhere, Islamabad is at three overnight.
Thursday has sunny skies in 17, Vientiane is down to 20, then sunny conditions in 31.
But on pans of 25 overnight, that will be followed by showers in 33.
In Africa, Nairobi will see cloudy skies in 26 degrees on Thursday, it compels down to 20, followed by sunny conditions in 27 degrees.
It is time for a short break.
So far this hour, South Korean lawmakers will vote on a second impeachment motion against the country's president this weekend.
Macau's outgoing chief executive says China is one country, two systems principal, has ensured stability and development in the region.
The Israeli Prime Minister's testified at his corruption trial in a court in Tel Aviv.
Shane Bigum with you.
Stay with us here on The Beijing Out.
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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 Bigum, with you on this Wednesday.
Still to come? In business, China's marking 23 years of membership in the World Trade Organization.
In sports, Real Madrid earns a much -needed win in Champions League play.
In culture and entertainment, highlights from the now -concluded Hainan International Film Festival.
To contact us, you can email radio at cgtn .com or follow our X account at cgtnradio.
Now checking the day's headline news, here's 10 years.
Thank you, Shane. Chinese President Xi Jinping has congratulated John Mahama on his election as the president of Ghana.
He also congratulated the Ram Gokul on his election as the president of Mauritius.
A Chinese mainland spokesperson says Ma Yingzhou will lead a delegation of Taiwan youths to visit the mainland next week.
The visit will last from December 18 to the 26th.
The State Council Taiwan Affairs Office says the delegation will attend the cross -strait Youth Ice and Snow Festival in northeast China, among other activities.
The Egyptian foreign minister will visit China on Thursday and Friday.
Badr Abdeladzi will also co -chair the China -Egypt Foreign Minister's Strategic Dialogue during the trip.
South Korean lawmakers are set to vote again this weekend on the opposition's move to impeach President Yoon Seok -kyo.
This follows the arrest of the country's police chief in connection with President Yoon's failed martial law declaration.
A special investigation unit says it has raided the presidential office, the national police, the Seoul Metropolitan Police and the National Assembly.
The police have also entered the Joint Chiefs of Staff headquarters.
The head of the Corruption Investigation Office for high -ranking officials says the CIO will attempt to arrest Yoon with or without a warrant if conditions are met.
The United Nations says it stands against any violation of the territorial integrity of Syria.
The UN statement comes after Israel seized a buffer zone in the Golan Heights following the collapse of the Bashar al -Assad government.
UN spokesperson Stefan Dajorik says the world body continues to consider the Golan Heights to be the occupied territory of Syria.
The spokesperson also says the latest situation in Syria should be used by all those in the region and beyond to support the Syrian people so they can choose their own path.
UN aid teams say the sudden power shift in Syria has increased humanitarian needs in the country.
Nearly 17 million people already depended on humanitarian aid before the recent events.
Spokesperson Yoon Lyuk for the UN Office for the Coordination of Humanitarian Affairs says all humanitarian organizations in Idlib and northern Aleppo have resumed operations.
The three border crossings from Turkey, used by the United Nations to deliver assistance, remain open.
And we are providing assistance in the northwest.
The humanitarian needs are growing and a scaled -up response is urgently required.
Money is, as always, an issue.
Our $4 billion appeal for this year is currently less than a third funded.
UN agencies are providing basic assistance in the northwest, including food, health and nutrition services, as well as access to clean water.
But health facilities are reportedly overwhelmed, with major hospitals operating at limited capacity due to shortages of staff, medicine and supplies.
According to the UN refugee agency, 7 million Syrians have been displaced internally and more than 5 million have fled to neighboring countries and beyond, uprooted by almost 14 years of war.
The number represents more than half of the country's pre -war population of 23 million.
The UN chief has held the central emergency response fund as a United Nations success story.
Addressing Serf's high -level pledging event for 2025, Antonio Guterres says the fund is a first responder in crises rooted in rapid analysis, rapid decision and rapid implementation.
And this centers around putting people first and kick -starting relief as soon as possible.
As humanitarian needs soar, contributions are failing to keep pace.
The need for a fully funded Serf at US $10 billion has never been greater.
I sincerely thank all those that have contributed for their generosity.
But in this hour of greatest need, I also ask countries to dig deeper and new donors to step forward.
Meanwhile, Under Secretary General for Humanitarian Affairs Tom Fletcher says Serf provides a life -length for people in neglected and under -founded crises.
This year, it has injected US $200 million into under -founded humanitarian responses in 17 countries.
And finally, the suspect charged with murdering UnitedHealth insurance CEO Brian Thompson has appeared in court in Pennsylvania.
Luigi Mangione was seen shouting angrily while being escorted into their courthouse on Tuesday.
His defense lawyer said Mangione planned to plead not guilty.
The 26 -year -old Ivy Lee graduate will remain in jail for gun and forgery charges.
The UnitedHealth CEO was shot dead last week outside a hotel in Manhattan sparking a manhunt for the shooter.
Upon his arrest, Mangione was found with handwritten manifesto that suggested he view the killing as justified for what he considered corruption in the healthcare industry.
Thank you very much.
That was Tian Liu with Headline News.
This is Shane Bigham in the Chinese Capitol coming up in business at China's marking 23 years of membership in the World Trade Organization.
Chinese business confidence in the European Union has declined for a fifth year to a new low.
What have the companies gone through in the once highly regarded fair and open market?
An EU business leader in China has warned a China -Europe trade war is unavoidable based on current trends.
How likely is that to happen?
If quitting each other's market is the least desirable option, what's the way out?
Find out on this week's chat lounge, join your favorite podcast platform and CGTN radio.
37 past now, turning to business.
Here's Wang Zaha. Thank you, Shane.
Stocks on the Chinese mainland ended higher on Wednesday.
The Shanghai Composite Index and the Shenzhen Component each gained 0 .3%.
China has kicked off its annual economic work conference where it will discuss economic policies and set growth targets for the coming year.
Hong Kong's Hang Tsang Index meantime reversed gains to trade 0 .8 % lower.
In South Korea, the KOSPI Index rose by around 1%.
Japan's Nikkei closed slightly above flat.
Wednesday marks the 23rd anniversary of China's accession to the World Trade Organization.
Since joining the WTO, China has actively integrated into the global economy, becoming a key trading partner for over 140 countries and regions.
The country has significantly reduced its overall tariff level from 15 .3 % in 2001 to the current 7 .3%, while the negative list for foreign investment has been progressively shortened, with all manufacturing sector restrictions now eliminated.
Meanwhile, this year also marks the 30th anniversary of the WTO's establishment.
Data shows that global trade has grown significantly over the past three decades, with an average annual increase of 5 .8%.
The Asian Development Bank has downgraded its growth forecast for the Asia -Pacific region, projecting slower growth than previously anticipated for this year and next.
The bank now expects regional growth of 4 .9 % in 2024 and 4 .8 % in 2025, with both forecasts down by a tenth of a point.
China's growth projections remain unchanged, with the economy expected to expand by 4 .8 % in 2024 and 4 .5 % in the year after.
The bank has also reduced its 2025 growth forecast for South Korea to 2%, marking a 0 .3 -point decrease from its previous September outlook.
The bank attributes this downgrade to expected slower export growth, particularly in the semiconductor sector.
U .S. Treasury Secretary Janet Yellen has warned that President -elect Donald Trump's plans to impose broad import tariffs could hinder progress in reducing inflation and raise costs for households and businesses.
She criticized Trump's proposal to impose new tariffs of 60 % on Chinese imports, saying it will raise prices for American consumers and create cost pressures for companies.
Yellen also expressed concerns about U .S.
fiscal sustainability and urged Congress to avoid extending Trump's individual and small business tax cards.
She noted that extension of the 2017 tax cards and jobs act would add $5 trillion to the U .S.
deficit over the next 10 years.
In November, Beijing's monthly online signing volume for second -hand homes surged 8%, surpassing 18 ,000 units.
Aaron Lill tells us more.
Han Tien -chi, a real estate agent in Beijing's Hai Dian district, is showing a client a two -bedroom apartment located outside the West 3rd Rain Road.
A home buyer shares their needs for improvement -type purchase.
I'm looking to upgrade to a larger space, trading up from a one -bedroom to a two -bedroom for more convenience in my daily life.
The implementation of new housing policies in Beijing in October, which included a reduction in deed taxes, has become a focal point in home buying transactions.
For deed tax, the current low tax rate of 1 % for favorable areas has been increased from 90 square meters to 140 square meters.
Previously, a 3 % deed tax was levied on second homes, which significantly reduces the overall cost for you.
Since October, there has been a noticeable increase in activity.
He contributes this mostly to market -rise improved -type demand.
The enthusiasm for buying a home has increased in the past two months.
We have a metric for the ratio of showings to transactions.
Originally, it might take 35 or 36 showings to result in one transaction, but now it might take around 28 groups to close a deal.
How has the housing transaction situation been across Beijing since October?
Compared to September, I feel that October has actually seen a significant increase, not only in appointment orders but also in the volume of transactions.
Basically, on weekends, we are actually fully booked here.
According to experts from the Housing Research Institute, relevant statistics show that in November, the online signing volume of second -hand residential homes in Beijing reached 18 ,763 units, marking an 8 % increase from the previous month.
That was Aaron Liu reporting.
Data shows that over 680 ,000 foreign trade entities contributed to China's growth in imports and exports during the first 11 months of this year, with private enterprises playing a leading part.
According to Chinese customs authorities, Total Good's imports and exports increased nearly 5 % from last year, with private enterprises accounting for over 55 % of the total.
A children's products manufacturer in the eastern province of Jiangsu has established over 40 direct distribution companies and more than 2 ,000 retail stores worldwide.
Staff member Wang Yong attributed the growth in the company's foreign trade to technological innovation.
Global markets impose strict technical standards for strollers.
We have integrated car airbag technology into our child safety seats, marking a groundbreaking innovation for the entire industry.
To ensure smooth exports, local customs has set up a team to navigate international technical trade measures, providing support for the children's mobility product sector.
Custom official Liu Dalian said the private enterprises continue to inject fresh momentum into China's foreign trade, acting as key drivers of industrial innovation.
Liu highlighted that over 150 ,000 private enterprises have engaged in imports and exports of high -tech products, with the total trade value growing by nearly 13%.
Foreign investment plays a crucial role in driving China's economic growth.
Chen Yilin spoke with a Danish entrepreneur who has been striving for success in Shanghai.
For over three decades, Simon Lichtenberg has witnessed China's transformation firsthand.
Owning the global furniture brand, the Danish entrepreneur is among the few days doing business in Shanghai in the early 1990s.
With all the experience he's gathered in manufacturing export, now the Danish entrepreneur is embarking on a new chapter.
Making a global launch of his new concept store, NetSpace, in China.
For some, Simon spoke moves comes at a challenging time of global consumption slowdowns.
But he remains optimistic, as he sees Chinese consumers are increasingly seeking high -quality lifestyles, and a busy environment in China remains open and welcoming.
As a foreign business owner in China, there's no doubt that the government is really, really welcoming, and also more and more professional and more and more structured in the way that foreign businesses are treated in China.
China is emphasizing high standard opening up.
A key to increasing the market access is easing travel restrictions.
Denmark is among dozens of countries whose citizens are eligible for up to 30 -day visa -free entry to China's.
Policies like these have promoted more business opportunities for Danish companies in the Chinese market.
In Egypt it seems like the visa freedom for Danish citizens to come now is a very specific sign of openings, and there are other signs.
TIA is an extremely important event, both for China, but also for Denmark.
We have been very committed and we can see our Danish companies see a lot of value from it.
That's why they come back year after year and we have some new companies coming every year.
This bond is set to threaten further as the two countries celebrate the 25th anniversary of their diplomatic relations next year.
That was Chen Yi -lin reporting.
And finally, Stellantis and Chinese battery manufacturer CATL has announced a $4 .3 billion investment to build one of Europe's largest electric vehicle batteries in Spain.
The joint venture in northeastern Spain will begin production by the end of 2026 and could reach a capacity of 50 GWh, enough to power around 700 ,000 cars per day.
In 2023, authorities registered around 2 .4 million new and new electric cars in the EU, up from 2 million in 2022.
Alright, thank you very much.
That was Wang Zihang with Business.
You're listening to the Beijing Hour.
Coming up in sports, Real Madrid earns a much -needed win in Champions League play.
47 pass now and with sports, here's Yang Guan.
Thank you, Shane. In the UEFA Champions League, Real Madrid has got a much -needed 3 -2 win over Tlanta to help the defending champion snap a two -game losing round in the tournament.
Kylian Mbappe gave Real the lead with a strike from inside the box in the 10th minute before he was forced off the pitch with an injury.
Chaux, the cat larry, equalised with a penalty after Ohilian Truameini failed his teammate just before the break.
Vinicius Jr stroking a rebound early in the second half to put visitors back in front, Jude Bellingham extended their lead three minutes later.
At Molo, Lukman reduced deficits in the 65th minute before Real goalkeeper Thibaut Courtois worked his magic with a string of saves to secure a hard -fought win.
Real head coach Carlos Angelo to praise the players in the front line for their efficiency.
We played a complete match, we suffered and we fought.
Despite all the difficulties that we have right now, we're still here.
This was the kind of match that was meant to be played fighting for it and be effective up front.
Real handed the Serie A leaders their first defeat in this season's revamped Champions League.
With two games left, Real is 18th on the 36th team table with 9 points, 3 points off the top 8, who can secure direct qualification to the last 16.
Elsewhere, Liverpool maintained its winning record in the Champions League with a 1 -0 win at Girona, as Muhammed Salah scored a penalty in the 63rd minute after Luis Diaz was brought down in the box.
And Bayern Munich's Michael Olesi netted the second half double as they came back from conceding an early goal to win 5 -1 against Shakhtar Donetsk to earn their first away victory in this season's Champions League competition.
FIFA is set to confirm the hosts for the 2030 and 34 World Cups, a joint bid led by Morocco, Spain and Portugal will get hosting rights for 2030 with honour for 2034 going to Saudi Arabia.
The 2030 tournament will mark a century since the first was held in Uruguay, and that makes it a completely unprecedented bid involving two different continental confederations.
FIFA confirmed more than a year ago that the joint proposal led by Morocco, Spain and Portugal was the sole contender for that year.
Meanwhile, Saudi Arabia will become the second nation from the Middle East to host, 12 years after its neighbour Carter staged the 2022 edition.
Saudi Arabia will also host the 2027 AFC Asian Cup, and the country is building 4 new stadiums for those upcoming events.
In the NBA Cup, the Milwaukee Bucks returned to the semi -finals in Las Vegas after beating Orlando Magic 114 -109 as the only returning team in year 2.
With Orlando leading most of the first two quarters, Jannu sent Kompo Midanelli Woop down to put the Bucks ahead at the end of the second quarter.
He then made another dunk on Ruta game -high 37 points.
Jalen Sucks, who led a short -handed Orlando team with 32 points, made a jumper to put Magic ahead, but Damian Lillard made a step back three to tie the game at 106 each.
He went on to score 9 out of his 28 points in the final minutes when he made a driving dunk to put the Bucks ahead again.
Milwaukee will face either New York Knicks or Atlanta Hawks on Saturday.
Elsewhere, in the battle of the two hottest teams and the two of the biggest stars in the league, Shay Gygis Alexander stole the show with 39 points to lead Oklahoma City Thunder past Dallas Mavericks 118 -104 to advance to the semi -finals.
All five Thunder starters finished in double -digit points.
Najee Marshall and Clay Thompson were drawing the top scorers for the Mavericks with 19 points apiece.
Luka Doncic had a triple -double in the last, but only had two points entering the final quarter.
And finally, in the CBA, Kenneth Lofton Jr.
scored a double -double of 35 points and 11 rebounds to help Shanghai beat Tianjin 129 -94.
Shanghai started well, and Li Tianro knocked down a threat to give the hosts a 6 -point lead.
22 -year -old Lofton scored 19 points in the opening quarter.
In the second, Eric Blatsoe found Wang Zheilin for a layup and Shanghai extended their advantage to double digits.
Wang tallied 25 points and 9 rebounds, which moved him past Jiangsu legend Tan Zhen Dzong to fifth on all -time CBA rebounds lists.
Tianjin tried to fight back in the second half and Jeevian Hamlet drove in for a layup en route to his 24 points, but the visitors still trailed by 20.
Lofton set up Li Hongcheng for corner 3, and Shanghai's lead was back to 28.
Li Tianro's triple sealed the deal for the Sharks and won by 35.
Shanghai has now won three games in a row and sits 18th, while Tianjin is on a full -game losing streak and 12th on the table.
And that's all for sports.
You're listening to the Beijing Hour.
60 Minutes of comprehensive news.
Your window on China and the world.
53 past the hour now, the 6th Hainan Island International Film Festival has concluded in the southern coastal province.
Over the past few days, a diverse selection of films from southeast Asia and Europe has captivated audiences while the China ASEAN forum on film and TV exchanges and communications has brought together industry leaders to discuss future collaboration.
Ding So -yue has more.
A key highlight of the festival is the ASEAN Unit's film screening, showcasing 11 acclaimed films from ASEAN member countries, including Indonesia, Malaysia, Thailand, and Vietnam.
They are being shown in theaters and open -air cinemas, making them accessible to a wider audience.
We need to make alliance.
We saw here China become a leading leader for a market, leader for a technology.
So if we can gather together, I think it can be like making a new center of film industry.
At the China ASEAN Forum, professionals from China, Singapore, Cambodia, Malaysia, and Indonesia share their enthusiasm for the growing Chinese film industry and expressed strong interest in future collaborations.
First of all, we are deeply grateful to CMG, the Hainan provincial government, and the city of Sanya for shining a spotlight on Spanish cinema and the works of Spanish creators.
Another highlight is the Spanish Films Week, featuring 18 remastered classics, including Carmen, The Distinguished Citizen, and The Other Way Around.
These films cover various genres and eras, representing the richness of Spanish cinema.
As Ding So -yue reporting on The Just Concluded, Hainan International Film Festival.
Organizers of the film festival have held a screening session at Xiamen University, Malaysia, the first overseas campus set up by a Chinese public university.
The event was part of the ASEAN section of the film festival to promote overseas exchanges in the film industry.
Zhang Mengyuan has more.
The screening featured three Chinese films, namely The Sinking of the Lisbon Maru, Harvest, and Door Gods.
From our university's perspective, hosting this event is beneficial as it allows us to continue promoting our Chinese culture through our campus established in Malaysia.
This is particularly important in spreading our culturally distinctive content, including film and visual narratives, among our international student body.
Director Zhang Chengjing attended the screening and engaged in the discussion afterward, sharing the stories behind the production of Harvest and Door Gods.
What impressed me a lot was the professionalism of the students.
Their appreciation of the film and their personal insights provided me with a lot of inspiration.
I also greatly enjoy this kind of interaction with the audience during the screening.
I believe that the feedback from the audience is more authentic and direct.
I hope to have more opportunities in the future to bring our films to various parts of the world for screenings and discussions.
Besides screening Chinese films in different venues, the 2024 Hainan Island International Film Festival features a series of film screenings in the ASEAN section, showcasing several outstanding films from Southeast Asian countries, including Indonesia, Malaysia, Singapore, Thailand, Vietnam, and the Philippines.
That was Zhang Mengyuan reporting.
Organizers of the film festival also held the China Film Industry Innovation and Development Forum.
It focused on the theme of innovative development of the film industry in the Hainan free trade port, highlighting co -productions between China and foreign countries.
It explored pathways for innovation in film content, cross -cultural communication, and the expansion of international markets.
Organizers say the forum aimed to inject fresh vitality into China's film industry and assist Hainan in becoming a hub for international film collaborations and an engine driving development in the film industry.
Dictionary publisher Merriam Webster has announced that its 2024 Word of the Year is Polarization.
The company's editor -at -large says the word polarization means that it's trending towards the extremes rather than towards the center.
Merriam Webster, which logs 100 million page views a month, chooses its Word of the Year based on its data tracking a rise in search and usage.
Last year's Word of the Year was authentic.
58 past the hour, Beijing's minus 3 overnight.
That's followed by cloudy skies and 3 degrees on Thursday, 9 chunks down to 5, then a light rainfall and 9.
Elsewhere, Islamabad is down to plus 3.
Thursday will see sunny skies in 17.
Vientiane is at 20 overnight and then sunny conditions in 31.
Phnom Penh is at 25 this evening.
Showers in 33 tomorrow.
In Africa, Nairobi will be getting cloudy skies and 26 degrees on Thursday.
Compel is down to 20 and then sunny in 27.
Finally to Oceania, Port Vila is 25 overnight, then cloudy in 31.
Pia will see sunny skies Thursday and 27 degrees Celsius.
And that's it for this edition of The Beijing Hour.
Making news today, South Korea's lawmakers will vote on a second impeachment motion against the country's president this weekend.
On behalf of the staff, this is Shane Bigum in the Chinese Capitol, 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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