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MIL-OSI Economics: Call for Applications Digital Spark Challenge 2024

Source: ASEAN

Widely used social media platforms and rapidly evolving applications facilitate the fast and extensive dissemination of information. With social media and internet users spending a large amount of time online, young people can be vulnerable to fake news and become the targets and/or inadvertent disseminators of false information.

Indonesia and Australia will co-host the Digital SPARK Challenge 2024 (hereinafter also referred to as the ‘Ideathon’) from 30 September to 3 October 2024 in Jakarta, Indonesia, in collaboration with The Asia Foundation and Love Frankie as the organising committee. The Ideathon will provide a platform for youth from ASEAN Member States (AMS), Timor-Leste and Australia to exchange views and pitch their ideas on innovative ways to address fake news and its impacts through social media campaigns.

Through a 4-day immersive workshop, up to 24 teams of two (two teams from each participating country) will be invited as participants of the Ideathon to develop a deeper understanding on fake news identification and mitigation, as well as its impacts to society, and be equipped with communication and advocacy tools to address them. Participants will be guided through a collaborative and participatory learning process to develop ideas for powerful online campaigns to address this issue. Selected experts will serve as on-site mentors and judges. The winning team will be further supported to implement their campaign idea.

Eligibility

Below criteria and qualifications are applicable for every member of each team:

Each team must consist of two (2) persons only.
Must be between 18-25 years old at the time of application.
Members of each team must be citizens of the same participating country (Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, The Philippines, Singapore, Thailand, Viet Nam, Timor-Leste, and Australia).
Must not be government officials or affiliated with government.
Must have the ability to travel (in-country and cross country) and own legitimate travel documents, such as a passport that is valid for at least six months beyond the date of arrival in Indonesia.
Must be available to fully attend a 4-day program in-person in Jakarta, Indonesia from 30 September to 3 October 2024 (plus travel days).
Both members of the winning team must be committed to collaborate with the organising committee in developing the campaign idea for implementation.
Must be able to work and communicate in English.
Have basic knowledge and experience in using social media platforms for creating online contents for public communication and accessing digital public data.
Possess the ability to access the Internet and have relevant computer proficiency.
Be highly motivated to engage collaboratively with representatives from diverse communities in order to strengthen understanding and enhance personal growth in alignment with the program’s goal.
Demonstrate leadership skills, motivation, time management, accountability, and strong commitment to promoting social impact.
Themes

The Digital SPARK Challenge 2024 will focus on two main themes:

Fake news, such as misinformation, disinformation, malinformation.
Content manipulation, such as AI-generated contents, deepfakes.
Other important issues such as hate speech, online bullying, privacy violation and online scams can also be covered as they relate to the above themes.

Award

All participants will have the opportunity to engage and learn from relevant experts during the Ideathon and will receive certificates of completion.
In addition, the first-place winner will be awarded:

Grant funding and ongoing mentorship support for campaign implementation.
Campaign amplification and integration through ASEAN official communication channels.
Registration

Teams of two (2) participants each are required to register together. To apply, please fill in the form by 8 September 2024. You will be asked to provide your general information as well as provide short responses detailing your initial campaign idea in accordance with your selected theme. Applications will be assessed based on your response to the selection questions. The selected teams will be contacted by the organising committee.

Selected teams will be supported with travel to/from Jakarta and accommodation during the program.

For any questions, please contact Pattamon Wattanawanitchakorn (tae@lovefrankie.co) and taf.thailand.meeting@asiafoundation.org.

The post Call for Applications Digital Spark Challenge 2024 appeared first on ASEAN Main Portal.

MIL OSI Economics –

January 26, 2025
MIL-OSI New Zealand: Fatal crash, Lake Road, Hauraki

Source: New Zealand Police (National News)

One person has died following a single vehicle crash where a car has collided with a power pole on Lake Road, Hauraki, today.

Police responded to the crash just before 6am.

One person was transported to hospital in a critical condition where they have since died.

Three further people were transported to hospital, two in a moderate condition and one with minor injuries.

The Serious Crash Unit conducted a scene examination and the road has since reopened.

Enquiries into the circumstances of the crash are ongoing.

ENDS

Issued by Police Media Centre

MIL OSI New Zealand News –

January 26, 2025
MIL-OSI USA: Biden-Harris Administration approves major disaster declaration request for Chaves County flooding

Source: US State of New Mexico

SANTA FE – Today, the Biden-Harris Administration approved Gov. Michelle Lujan Grisham’s request for a Major Disaster Declaration for New Mexico, an action that will release federal funds to support recovery efforts in response to the flooding that occurred over a weekend in Chaves County earlier this month.

“The impacts of this historic flooding have been devastating for this community, and I am grateful to the Biden-Harris administration for acting quickly to provide support,” said Gov. Lujan Grisham. “We must work together and do all we can to assist Chaves County in their recovery.”

The declaration will provide assistance to individuals, households and businesses in the affected areas of Chaves County.

Public assistance will also be available for emergency work and the repair or replacement of disaster-damaged facilities, including debris removal and emergency protective measures and direct federal assistance for Chaves County.

Individuals in Chavez County who have been impacted by the flooding event that occurred October 18-21 will be able to apply for assistance from FEMA soon.

For questions about resources call the state disaster response and recovery hotline at 1-833- 663-4736 or visit dhsem.nm.gov/chavesflooding.

MIL OSI USA News –

January 26, 2025

MIL-OSI: CORRECTION – Bogota Financial Corp. Reports Results for the Three and Nine Months Ended September 30, 2024 Corrected

Source: GlobeNewswire (MIL-OSI)

TEANECK, N.J., Nov. 01, 2024 (GLOBE NEWSWIRE) — Bogota Financial Corp. (NASDAQ: BSBK) (the “Company”), the holding company of Bogota Savings Bank (the “Bank”), after market close today issued a correction to its financial results for the three and nine months ended September 30, 2024 (the “Revised Earnings Release”), which was issued prior to market open on November 1, 2024 (the “Original Earnings Release”). Interest expense on deposits (and similarly total interest expense) for the three and nine months ended September 30, 2024 reported in the Original Earnings Release was understated by $300,000 due to a misstatement of the rates paid on certain certificates of deposit during the three months ended September 30, 2024. As a result, the Revised Earnings Release reflects the following changes:

At September 30, 2024

	Average rate for certificates of deposit	Average rate for deposits
As Initially Reported	4.15%	3.55%
As Corrected	4.39%	3.95%

For Three Months Ended September 30, 2024

(Dollars in thousands, except per share data)	Interest paid on average certificates of deposit		Interest paid on average interest-bearing deposits		Net interest income		Net interest income after provision (recovery) for credit losses		(Loss) income before income taxes			Income tax (benefit) expense			Net (loss) income			(Loss) earnings per common share – basic			(Loss) earnings per common share – diluted
As Initially Reported	$	5,327	$	5,861	$	2,957	$	2,957	$	(320	)	$	(173	)	$	(147	)	$	(0.01	)	$	(0.01	)
As Corrected	$	5,627	$	6,161	$	2,657	$	2,657	$	(620	)	$	(253	)	$	(367	)	$	(0.03	)	$	(0.03	)

	Cost of average certificates of deposit		Cost of average interest-bearing deposits		(Loss) Return on Average Assets		(Loss) Return on Average Equity		Interest rate spread		Net interest margin		Efficiency Ratio
As Initially Reported	4.26	%	3.84	%	(0.09	)%	(0.72	)%	0.81	%	1.24	%	109.75	%
As Corrected	4.50	%	4.04	%	(0.07	)%	(0.52	)%	0.66	%	1.15	%	120.78	%

For Nine Months Ended September 30, 2024

(Dollars in thousands, except per share data)	Interest paid on average certificates of deposit		Interest paid on average interest-bearing deposits		Net interest income		Net interest income after provision (recovery) for credit losses		(Loss) income before income taxes			Income tax (benefit) expense			Net (loss) income			(Loss) earnings per common share – basic			(Loss) earnings per common share – diluted
As Initially Reported	$	16,484	$	18,085	$	8,352	$	8,282	$	(1,762	)	$	(741	)	$	(1,020	)	$	(0.08	)	$	(0.08	)
As Corrected	$	16,784	$	18,385	$	8,052	$	7,982	$	(2,062	)	$	(821	)	$	(1,240	)	$	(0.10	)	$	(0.10	)

	Cost of average certificates of deposit		Cost of average interest-bearing deposits		(Loss) Return on Average Assets		(Loss) Return on Average Equity		Interest rate spread		Net interest margin		Efficiency Ratio
As Initially Reported	4.31	%	3.88	%	(0.17	)%	(1.23	)%	0.73	%	1.23	%	118.23	%
As Corrected	4.39	%	3.95	%	(0.20	)%	(1.44	)%	0.68	%	1.18	%	122.18	%

The full text of the corrected release is a follows:

Teaneck, New Jersey, November 1, 2024 – Bogota Financial Corp. (NASDAQ: BSBK) (the “Company”), the holding company for Bogota Savings Bank (the “Bank”), reported a net loss for the three months ended September 30, 2024 of $367,000, or $0.03 per basic and diluted share, compared to a net loss of $29,000, or $0.00 per basic and diluted share, for the comparable prior year period. The Company reported a net loss for the nine months ended September 30, 2024 of $1.2 million, or $0.10 per basic and diluted share, compared to net income of $1.8 million, or $0.14 per basic and diluted share, for the nine months ended September 30, 2023.

On April 24, 2024, the Company announced it had received regulatory approval for the repurchase of up to 237,090 shares of its common stock, or approximately 5% of its then outstanding common stock (excluding shares held by Bogota Financial, MHC). The repurchase program does not have a scheduled expiration date and the Board of Directors has the right to suspend or discontinue the program at any time. As of September 30, 2024, 163,790 shares have been repurchased pursuant to the program at a cost of $1.2 million.

Other Financial Highlights:

Total assets increased $39.6 million, or 4.2%, to $978.9 million at September 30, 2024 from $939.3 million at December 31, 2023, due to an increase in securities, offset by a decrease in cash and cash equivalents and loans.
Cash and cash equivalents decreased $3.9 million, or 15.8%, to $21.0 million at September 30, 2024 from $24.9 million at December 31, 2023 as excess funds were used to purchase securities.
Securities increased $47.1 million, or 33.3%, to $188.7 million at September 30, 2024 from $141.5 million at December 31, 2023.
Net loans decreased $5.8 million, or 0.8%, to $708.9 million at September 30, 2024 from $714.7 million at December 31, 2023.
Total deposits at September 30, 2024 were $629.3 million, increasing $3.9 million, or 0.6%, as compared to $625.3 million at December 31, 2023, due to a $2.3 million increase in interest-bearing deposits, primarily in certificates of deposit, and a $1.6 million increase in non-interest bearing demand accounts. The average cost of deposits increased 128 basis points to 3.95% for the first three quarters of 2024 from 2.67% for the first nine months of 2023 due to higher interest rates and a larger percentage of deposits consisting of higher-costing certificates of deposit.
Federal Home Loan Bank advances increased $34.9 million, or 20.8% to $202.6 million at September 30, 2024 from $167.7 million as of December 31, 2023.

Kevin Pace, President and Chief Executive Officer, said “The Bank continues its growth strategy focusing on core deposits and commercial lending. We have seen an uptick in our commercial pipeline this quarter that shows interest remains strong in our market. Offering new desirable technology through partnerships with our providers is a key initiative we are focusing on going into 2025. This will allow us to attract new customers in our competitive environment.”

“The Bank completed its third stock repurchase program earlier this year and promptly began its fourth buyback. We remain diligent in our efforts to show confidence and deliver value to our shareholders.”

Income Statement Analysis

Comparison of Operating Results for the Three Months Ended September 30, 2024 and September 30, 2023

Net income decreased by $338,000 to a net loss of $367,000 for the three months ended September 30, 2024 from a net loss of $29,000 for the three months ended September 30, 2023. This decrease was primarily due to a decrease of $560,000 in net interest income, partially offset by a decrease of $171,000 in salaries and employee benefit costs, an increase of $128,000 in income tax benefit and a $38,000 increase in non-interest income.

Interest income increased $1.3 million, or 14.3%, from $9.3 million for the three months ended September 30, 2023 to $10.6 million for the three months ended September 30, 2024 primarily due to higher yields on interest-earning assets and an increase in the average balance of securities.

Interest income on cash and cash equivalents decreased $30,000, or 17.9%, to $138,000 for the three months ended September 30, 2024 from $168,000 for the three months ended September 30, 2023 due to a $2.6 million decrease in the average balance to $10.2 million for the three months ended September 30, 2024 from $12.8 million for the three months ended September 30, 2023, reflecting the use of excess cash to purchase securities. The decrease was offset by an 18 basis point increase in the average yield from 5.21% for the three months ended September 30, 2023 to 5.39% for the three months ended September 30, 2024 due to the higher interest rate environment.

Interest income on loans increased $401,000, or 5.0%, to $8.4 million for the three months ended September 30, 2024 compared to $8.0 million for the three months ended September 30, 2023 due primarily to a 24 basis point increase in the average yield from 4.45% for the three months ended September 30, 2023 to 4.69% for the three months ended September 30, 2024, and to a lesser extent, a $876,000 increase in the average balance to $711.6 million for the three months ended September 30, 2024 from $710.7 million for the three months ended September 30, 2023.

Interest income on securities increased $889,000, or 88.2%, to $1.9 million for the three months ended September 30, 2024 from $1.0 million for the three months ended September 30, 2023 primarily due to a $48.7 million increase in the average balance to $187.2 million for the three months ended September 30, 2024 from $138.5 million for the three months ended September 30, 2023, and a 114 basis point increase in the average yield from 2.91% for the three months ended September 30, 2023 to 4.05% for the three months ended September 30, 2024 due to the higher interest rate environment.

Interest expense increased $1.9 million, or 31.1%, from $6.1 million for the three months ended September 30, 2023 to $8.0 million for the three months ended September 30, 2024 due to higher costs and average balances on certificates of deposit and borrowings.

Interest expense on interest-bearing deposits increased $1.3 million, or 27.0%, to $6.2 million for the three months ended September 30, 2024 from $4.9 million for the three months ended September 30, 2023. The increase was due to a 93 basis point increase in the average cost of deposits to 4.04% for the three months ended September 30, 2024 from 3.11% for the three months ended September 30, 2023. The increase in the average cost of deposits was due to the higher interest rate environment and a change in the composition of the deposit portfolio. The average balances of certificates of deposit decreased $831,000 to $497.3 million for the three months ended September 30, 2024 from $498.1 million for the three months ended September 30, 2023 while the average balance of NOW/money market accounts and savings accounts decreased $9.0 million and $2.1 million for the three months ended September 30, 2024, respectively, compared to the three months ended September 30, 2023.

Interest expense on Federal Home Loan Bank advances increased $582,000, or 47.7%, from $1.2 million for the three months ended September 30, 2023 to $1.8 million for the three months ended September 30, 2024. The increase was primarily due to an increase in the average balance of $71.6 million to $196.9 million for the three months ended September 30, 2024 from $125.3 million for the three months ended September 30, 2023. The increase was slightly offset by a decrease in the average cost of borrowings of 22 basis points to 3.64% for the three months ended September 30, 2024 from 3.86% for the three months ended September 30, 2023 due to new borrowings being at lower rates. At September 30, 2024, cash flow hedges used to manage interest rate risk had a notional value of $65.0 million, while fair value hedges totaled $60.0 million in notional value. During the three months ended September 30, 2024, the use of the cash flow and fair value hedges reduced the interest expense on the Federal Home Loan Bank advances and certificates of deposit by $498,000.

Net interest income decreased $560,000, or 17.4%, to $2.7 million for the three months ended September 30, 2024 from $3.2 million for the three months ended September 30, 2023. The decrease reflected a 35 basis point decrease in our net interest rate spread to 0.66% for the three months ended September 30, 2024 from 1.01% for the three months ended September 30, 2023. Our net interest margin decreased 32 basis points to 1.15% for the three months ended September 30, 2024 from 1.47% for the three months ended September 30, 2023.

We did not record a provision for credit losses for the three months ended September 30, 2024 or September 30, 2023 due to moderate loan growth and improved economic conditions.

Non-interest income increased by $38,000, or 13.0%, to $327,000 for the three months ended September 30, 2024 from $290,000 for the three months ended September 30, 2023. Bank-owned life insurance income increased $23,000, or 11.6%, due to higher balances during 2024 and gain on sale of loans increased $12,000 compared to no gain on sale of loans for the comparable period last year due to the sale of a $400,000 residential loan in 2024.

For the three months ended September 30, 2024, non-interest expense decreased $56,000, or 1.5%, over the comparable 2023 period. This was due to a $171,000, or 7.5% reduction in salaries and employee benefits, which decreased due to lower headcount and increased expenses in 2023 related to the retirement of the previous Chief Executive Officer, and a $40,000, or 31.9%, decrease in advertising expenses. Our FDIC insurance assessment also decreased by $26,000, or 19.8%. These decreases were partially offset by an increase in professional fees of $99,000, or 66.4%, due to higher consulting expense related to strategic business planning. Data processing expense also increased $100,000, or 48.8%, due to higher processing costs.

Income tax expense decreased $128,000, or 102.1%, to a benefit of $253,000 for the three months ended September 30, 2024 from a $125,000 benefit for the three months ended September 30, 2023. The decrease was due to a reduction of $466,000 in taxable income.

Comparison of Operating Results for the Nine Months Ended September 30, 2024 and September 30, 2023

Net income decreased by $3.1 million, or 168.1%, to a net loss of $1.2 million for the nine months ended September 30, 2024 from net income of $1.8 million for the nine months ended September 30, 2023. This decrease was primarily due to a decrease of $4.0 million in net interest income, partially offset by a decrease of $1.2 million in income tax expense.

Interest income increased $3.4 million, or 12.4%, from $27.7 million for the nine months ended September 30, 2023 to $31.1 million for the nine months ended September 30, 2024 due to higher yields on interest-earning assets and an increase in the average balance of securities, partially offset by a decrease in the average balance of loans and cash and cash equivalents.

Interest income on cash and cash equivalents decreased $8,000, or 1.9%, to $415,000 for the nine months ended September 30, 2024 from $423,000 for the nine months ended September 30, 2023 due a $2.3 million decrease in the average balance to $9.1 million for the nine months ended September 30, 2024 from $11.4 million for the nine months ended September 30, 2023, reflecting the decrease of liquidity due to increased securities purchases. This decrease was offset by a 111 basis point increase in the average yield due to the higher interest rate environment.

Interest income on loans increased $1.1 million, or 4.5%, to $24.9 million for the nine months ended September 30, 2024 compared to $23.8 million for the nine months ended September 30, 2023 due primarily to a 20 basis point increase in the average yield from 4.46% for the nine months ended September 30, 2023 to 4.66% for the nine months ended September 30, 2024, offset by a $1.9 million decrease in the average balance to $711.7 million for the nine months ended September 30, 2024 from $713.6 million for the nine months ended September 30, 2023.

Interest income on securities increased $2.2 million, or 69.4%, to $5.3 million for the nine months ended September 30, 2024 from $3.1 million for the nine months ended September 30, 2023 primarily due to a 112 basis point increase in the average yield from 2.80% for the nine months ended September 30, 2023 to 3.92% for the nine months ended September 30, 2024, and a $31.0 million increase in the average balance to $179.8 million for the nine months ended September 30, 2024 from $148.8 million for the nine months ended September 30, 2023.

Income from other interest-earning assets, which primarily consisted of Federal Home Loan Bank stock, increased $209,000, or 27.1% to $981,000 for the nine months ended September 30, 2024 from $772,000 for the nine months ended September 30, 2023 due to dividends paid on such stock.

Interest expense increased $7.4 million, or 47.4%, from $15.7 million for the nine months ended September 30, 2023 to $23.1 million for the nine months ended September 30, 2024 due to higher costs and average balances on certificates of deposit and borrowings.

Interest expense on interest-bearing deposits increased $5.6 million, or 43.9%, to $18.4 million for the nine months ended September 30, 2024 from $12.8 million for the nine months ended September 30, 2023. The increase was due to a 128 basis point increase in the average cost of deposits to 3.95% for the nine months ended September 30, 2024 from 2.67% for the nine months ended September 30, 2023. The increase in the average cost of deposits was due to the higher interest rate environment and a change in the composition of the deposit portfolio. The average balances of certificates of deposit increased $12.0 million to $510.5 million for the nine months ended September 30, 2024 from $498.5 million for the nine months ended September 30, 2023 while average NOW/money market accounts and savings accounts decreased $24.2 million and $5.7 million for the nine months ended September 30, 2024, respectively, compared to the nine months ended September 30, 2023.

Interest expense on Federal Home Loan Bank advances increased $1.8 million, or 62.7%, from $2.9 million for the nine months ended September 30, 2023 to $4.7 million for the nine months ended September 30, 2024. The increase was primarily due to an increase in the average balance of $60.7 million to $171.6 million for the nine months ended September 30, 2024 from $110.9 million for the nine months ended September 30, 2023. The increase was also due to an increase in the average cost of borrowings of 17 basis points to 3.67% for the nine months ended September 30, 2024 from 3.50% for the nine months ended September 30, 2023 due to new borrowings being at higher rates. At September 30, 2024, cash flow hedges used to manage interest rate risk had a notional value of $65.0 million, while fair value hedges totaled $60.0 million in notional value. During the nine months ended September 30, 2024, the use of the cash flow hedges reduced the interest expense on the Federal Home Loan Bank advances and certificates of deposit by $1.2 million.

Net interest income decreased $4.0 million, or 33.1%, to $8.0 million for the nine months ended September 30, 2024 from $12.0 million for the nine months ended September 30, 2023. The decrease reflected a 73 basis point decrease in our net interest rate spread to 0.68% for the nine months ended September 30, 2024 from 1.41% for the nine months ended September 30, 2023. Our net interest margin decreased 64 basis points to 1.18% for the nine months ended September 30, 2024 from 1.82% for the nine months ended September 30, 2023.

We recorded a $70,000 provision for credit losses for the nine months ended September 30, 2024 compared to a $125,000 recovery for credit losses for the nine-month period ended September 30, 2023, which was due to a decrease in loan balances in 2023. The entire provision in the first three quarters of 2024 was due to an increase in held-to-maturity corporate securities.

Non-interest income increased by $73,000, or 8.5%, to $929,000 for the nine months ended September 30, 2024 from $856,000 for the nine months ended September 30, 2023. The increase was primarily due to bank-owned life insurance income, which increased $74,000, or 12.9%, due to higher balances during 2024.

For the nine months ended September 30, 2024, non-interest expense increased $163,000, or 1.5%, over the comparable 2023 period. Professional fees increased $270,000, or 65.5% due to higher consulting expense related to strategic business planning. Data processing expense increased $210,000, or 29.3%, due to higher processing costs. These were offset by a $333,000, or 4.9%, reduction in salaries and employee benefit, which decreased due to lower headcount and increased expenses in 2023 related to the retirement of the previous Chief Executive Officer.

Income tax expense decreased $1.2 million, or 312.9%, to a benefit of $821,000 for the nine months ended September 30, 2024 from a $386,000 expense for the nine months ended September 30, 2023. The decrease was due to a reduction of $4.3 million in taxable income.

Balance Sheet Analysis

Total assets were $978.9 million at September 30, 2024, representing an increase of $39.6 million, or 4.2%, from December 31, 2023. Cash and cash equivalents decreased $3.9 million during the period primarily due to the purchase of new securities offset by loan repayments. Net loans decreased $5.8 million, or 0.8%, due to $22.5 million in repayments including a $12.6 million decrease in the balance of residential loans, as well as a $9.1 million decrease in the balance of construction loans and a decrease of $915,000 in multifamily loans. The decrease was partially offset by new production of $16.7 million, including $13.1 million and $3.6 million of commercial real estate and commercial and industrial loans, respectively. The Company also purchased a pool of residential loans totaling $10.4 million. Due to the interest rate environment, we have experienced a decrease in demand for residential and construction loans, which have been primary drivers of our loan growth in recent periods. Securities held to maturity increased $7.4 million, or 10.3%, and securities available for sale increased $40.0 million, or 57.6%, due to new purchases of mortgage-backed securities with excess cash.

Delinquent loans increased $8.9 million to $21.5 million, or 3.0% of total loans, at September 30, 2024, compared to $12.6 million, or 1.8% of total loans, at December 31, 2023. The increase was mostly due to four commercial real estate loans to three customers with a balance of $8.1 million. Three of the past due commercial real estate loans are being actively managed with the customers and are expected to be brought current, while one totaling $758,000 has been placed on nonaccrual, but is considered well-secured with a loan-to-value of 59%. During the same timeframe, non-performing assets increased from $12.8 million at December 31, 2023 to $13.8 million, which represented 1.41% of total assets at September 30, 2024. No loans were charged-off during the three or nine months ended September 30, 2024 or September 30, 2023. The Company’s allowance for credit losses related to loans was 0.39% of total loans and 19.94% of non-performing loans at September 30, 2024 compared to 0.39% of total loans and 21.81% of non-performing loans at December 31, 2023. The Bank does not have any exposure to commercial real estate loans secured by office space. At September 30, 2024, the Company’s allowance for credit losses related to held-to-maturity securities totaled $108,000 or 0.13% of the total held-to-maturity securities portfolio.

Total liabilities increased $39.8 million, or 5.0%, to $841.9 million mainly due to a $34.9 million increase in borrowings and a $3.9 million increase in total deposits. The increase in deposits reflected an increase in certificate of deposit accounts, which increased by $505,000 to $493.8 million from $493.3 million at December 31, 2023, an increase in NOW deposit accounts, which increased by $4.2 million to $45.5 million from $41.3 million at December 31, 2023, and by an increase in noninterest bearing demand accounts, which increased by $1.6 million from $30.6 million at December 31, 2023 to $32.1 million at September 30, 2024. This was offset by a $2.6 million, or 18.0%, decrease in money market accounts. At September 30, 2024, brokered deposits were $101.1 million or 16.1% of deposits and municipal deposits were $36.0 million or 5.7% of deposits. At September 30, 2024, uninsured deposits represented 10.7% of the Bank’s total deposits. Federal Home Loan Bank advances increased $34.9 million, or 20.8%, due to new borrowings, for which the durations have primarily been short-term in nature as we remain mindful of the changing interest rate environment and the potential for further interest rate cuts from the Federal Reserve. Total borrowing capacity at the Federal Home Loan Bank is $297.9 million of which $202.7 million has been advanced.

Total stockholders’ equity decreased $233,000 to $136.9 million, due to a net loss of $1.2 million and the repurchase of 163,790 shares of stock at a cost of $1.2 million, offset by a decrease in accumulated other comprehensive loss for securities available for sale of $1.6 million and stock compensation of $225,000 for the nine months ended September 30, 2024. At September 30, 2024, the Company’s ratio of average stockholders’ equity-to-total assets was 15.04%, compared to 15.32% at December 31, 2023.

About Bogota Financial Corp.

Bogota Financial Corp. is a Maryland corporation organized as the mid-tier holding company of Bogota Savings Bank and is the majority-owned subsidiary of Bogota Financial, MHC. Bogota Savings Bank is a New Jersey chartered stock savings bank that has served the banking needs of its customers in northern and central New Jersey since 1893. It operates from seven offices located in Bogota, Hasbrouck Heights, Upper Saddle River, Newark, Oak Ridge, Parsippany and Teaneck, New Jersey and operates a loan production office in Spring Lake, New Jersey.

Forward-Looking Statements

This press release contains certain forward-looking statements about the Company and the Bank. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, inflation, general economic conditions or conditions within the securities markets, real estate market values in the Bank’s lending area, changes in liquidity, including the size and composition of our deposit portfolio and the percentage of uninsured deposits in the portfolio; the availability of low-cost funding; our continued reliance on brokered and municipal deposits; demand for loans in our market area; changes in the quality of our loan and security portfolios, economic assumptions or changes in our methodology, either of which may impact our allowance for credit losses calculation, increases in non-performing and classified loans, monetary and fiscal policies of the U.S. Government including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, a failure in or breach of the Company’s operational or security systems or infrastructure, including cyberattacks, the failure to maintain current technologies, failure to retain or attract employees and legislative, accounting and regulatory changes that could adversely affect the business in which the Company and the Bank are engaged.
The Company undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.

BOGOTA FINANCIAL CORP. CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (unaudited)

	As of			As of
	September 30, 2024			December 31, 2023
Assets
Cash and due from banks	$	10,630,086		$	13,567,115
Interest-bearing deposits in other banks		10,372,434			11,362,356
Cash and cash equivalents		21,002,520			24,929,471
Securities available for sale, at fair value		108,560,811			68,888,179
Securities held to maturity, net of allowance for securities credit losses of $108,000 and zero, respectively (fair value – $74,603,097 and $65,374,753, respectively)		80,103,753			72,656,179
Loans, net of allowance for credit losses of $2,747,949 and $2,785,949, respectively		708,896,566			714,688,635
Premises and equipment, net		7,853,076			7,687,387
Federal Home Loan Bank (FHLB) stock and other restricted securities		10,180,100			8,616,100
Accrued interest receivable		4,352,967			3,932,785
Core deposit intangibles		165,454			206,116
Bank-owned life insurance		31,635,988			30,987,851
Other assets		6,138,029			6,731,500
Total Assets	$	978,889,264		$	939,324,203
Liabilities and Equity
Non-interest bearing deposits	$	32,125,742		$	30,554,842
Interest bearing deposits		597,141,995			594,792,300
Total deposits		629,267,737			625,347,142
FHLB advances-short term		53,500,000			37,500,000
FHLB advances-long term		149,065,610			130,189,663
Advance payments by borrowers for taxes and insurance		3,265,262			2,733,709
Other liabilities		6,850,898			6,380,486
Total liabilities		841,949,507			802,151,000

Stockholders’ Equity
Preferred stock $0.01 par value 1,000,000 shares authorized, none issued and outstanding at September 30, 2024 and December 31, 2023		—			—
Common stock $0.01 par value, 30,000,000 shares authorized, 13,092,357 issued and outstanding at September 30, 2024 and 13,279,230 at December 31, 2023		130,823			132,792
Additional paid-in capital		55,315,975			56,149,915
Retained earnings		90,936,649			92,177,068
Unearned ESOP shares (389,674 shares at September 30, 2024 and 409,750 shares at December 31, 2023)		(4,595,895	)		(4,821,798	)
Accumulated other comprehensive loss		(4,847,795	)		(6,464,774	)
Total stockholders’ equity		136,939,757			137,173,203
Total liabilities and stockholders’ equity	$	978,889,264		$	939,324,203

BOGOTA FINANCIAL CORP. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Interest income
Loans, including fees	$	8,381,581		$	7,980,388		$	24,888,377		$	23,821,545
Securities
Taxable		1,884,276			994,791			5,247,336			3,042,389
Tax-exempt		13,137			13,159			39,409			78,293
Other interest-earning assets		341,268			301,081			980,536			771,584
Total interest income		10,620,262			9,289,419			31,155,658			27,713,811
Interest expense
Deposits		6,160,547			4,851,926			18,384,323			12,777,907
FHLB advances		1,802,387			1,220,166			4,719,056			2,900,359
Total interest expense		7,962,934			6,072,092			23,103,379			15,678,266
Net interest income		2,657,328			3,217,327			8,052,279			12,035,545
Provision (recovery) for credit losses		—			—			70,000			(125,000	)
Net interest income after provision (recovery) for credit losses		2,657,328			3,217,327			7,982,279			12,160,545
Non-interest income
Fees and service charges		56,610			61,529			164,400			159,381
Gain on sale of loans		11,710			—			11,710			29,375
Bank-owned life insurance		221,122			197,873			648,137			574,073
Other		37,943			30,332			105,420			93,660
Total non-interest income		327,385			289,734			929,667			856,489
Non-interest expense
Salaries and employee benefits		2,102,993			2,274,347			6,404,946			6,737,952
Occupancy and equipment		380,714			372,626			1,118,739			1,114,170
FDIC insurance assessment		106,313			132,571			313,626			319,690
Data processing		306,167			205,721			928,292			717,913
Advertising		85,750			126,000			310,950			369,383
Director fees		159,851			159,336			467,100			478,011
Professional fees		248,420			149,251			682,517			412,519
Other		214,686			241,530			747,598			661,300
Total non-interest expense		3,604,894			3,661,382			10,973,768			10,810,938
(Loss) income before income taxes		(620,181	)		(154,321	)		(2,061,822	)		2,206,096
Income tax (benefit) expense		(253,221	)		(125,268	)		(821,403	)		385,801
Net (loss) income	$	(366,960	)	$	(29,053	)	$	(1,240,419	)	$	1,820,295
(Loss) earnings per Share – basic	$	(0.03	)	$	(0.00	)	$	(0.10	)	$	0.14
(Loss) earnings per Share – diluted	$	(0.03	)	$	(0.00	)	$	(0.10	)	$	0.14
Weighted average shares outstanding – basic		12,702,683			13,037,903			12,702,683			13,103,951
Weighted average shares outstanding – diluted		12,717,904			13,037,903			12,734,624			13,103,951

BOGOTA FINANCIAL CORP. SELECTED RATIOS (unaudited)

	At or For the Three Months						At or for the Nine Months
	Ended September 30,						Ended September 30,
	2024			2023			2024			2023
Performance Ratios (1):
(Loss) return on average assets (2)		(0.07	)%		(0.01	)%		(0.20	)%		0.26	%
(Loss) return on average equity (3)		(0.52	)%		(0.08	)%		(1.44	)%		1.75	%
Interest rate spread (4)		0.66	%		1.01	%		0.68	%		1.41	%
Net interest margin (5)		1.15	%		1.47	%		1.18	%		1.82	%
Efficiency ratio (6)		120.78	%		104.40	%		122.18	%		83.05	%
Average interest-earning assets to average interest-bearing liabilities		114.30	%		116.68	%		114.62	%		117.21	%
Net loans to deposits		110.67	%		110.08	%		114.43	%		110.08	%
Average equity to average assets (7)		14.01	%		15.00	%		14.14	%		14.88	%
Capital Ratios:
Tier 1 capital to average assets								13.47	%		15.67	%
Asset Quality Ratios:
Allowance for credit losses as a percent of total loans								0.39	%		0.39	%
Allowance for credit losses as a percent of non-performing loans								19.94	%		22.62	%
Net charge-offs to average outstanding loans during the period								0.00	%		0.00	%
Non-performing loans as a percent of total loans								1.94	%		1.73	%
Non-performing assets as a percent of total assets								1.41	%		1.33	%

(1) Certain performance ratios for the three and nine months ended September 30, 2024 and 2023 are annualized.
(2) Represents net (loss) income divided by average total assets.
(3) Represents net (loss) income divided by average stockholders’ equity.
(4) Represents the difference between the weighted average yield on average interest-earning assets and the weighted average cost of average interest-bearing liabilities. Tax exempt income is reported on a tax equivalent basis using a combined federal and state marginal tax rate of 27.5% for 2024 and 2023.
(5) Represents net interest income as a percent of average interest-earning assets. Tax exempt income is reported on a tax equivalent basis using a combined federal and state marginal tax rate of 27.5% for 2024 and 2023.
(6) Represents non-interest expenses divided by the sum of net interest income and non-interest income.
(7) Represents average stockholders’ equity divided by average total assets.

LOANS

Loans are summarized as follows at September 30, 2024 and December 31, 2023:


	September 30,			December 31,
	2024			2023
	(unaudited)
Real estate:
Residential First Mortgage	$	473,492,871		$	486,052,422
Commercial Real Estate		112,899,496			99,830,514
Multi-Family Real Estate		74,697,352			75,612,566
Construction		40,243,916			49,302,040
Commercial and Industrial		10,229,503			6,658,370
Consumer		81,377			18,672
Total loans		711,644,515			717,474,584
Allowance for credit losses		(2,747,949	)		(2,785,949	)
Net loans	$	708,896,566		$	714,688,635

The following tables set forth the distribution of total deposit accounts, by account type, at the dates indicated:


	At September 30,								At December 31,
	2024								2023
	Amount		Percent			Average Rate			Amount		Percent			Average Rate

	(unaudited)
Noninterest bearing demand accounts	$	32,125,742		5.11	%		—	%	$	30,554,842		4.89	%		—	%
NOW accounts		45,493,204		7.23	%		2.21			41,320,723		6.61	%		1.90
Money market accounts		12,003,291		1.91	%		0.30			14,641,846		2.34	%		0.30
Savings accounts		45,865,501		7.29	%		1.82			45,554,964		7.28	%		1.76
Certificates of deposit		493,779,999		78.47	%		4.15			493,274,767		78.88	%		4.00
Total	$	629,267,737		100.00	%		3.55	%	$	625,347,142		100.00	%		3.42	%

Average Balance Sheets and Related Yields and Rates

The following tables present information regarding average balances of assets and liabilities, the total dollar amounts of interest income and dividends from average interest-earning assets, the total dollar amounts of interest expense on average interest-bearing liabilities, and the resulting annualized average yields and costs. The yields and costs for the periods indicated are derived by dividing income or expense by the average balances of assets or liabilities, respectively, for the periods presented. Average balances have been calculated using daily balances. Nonaccrual loans are included in average balances only. Loan fees are included in interest income on loans and are not material.


	Three Months Ended September 30,
	2024								2023
	Average Balance			Interest and Dividends		Yield/ Cost			Average Balance			Interest and Dividends		Yield/ Cost
	(Dollars in thousands)
Assets:	(unaudited)
Cash and cash equivalents	$	10,195		$	138		5.39	%	$	12,764		$	168		5.21	%
Loans		711,601			8,381		4.69	%		710,725			7,981		4.45	%
Securities		187,212			1,897		4.05	%		138,479			1,008		2.91	%
Other interest-earning assets		9,908			203		8.20	%		6,620			132		8.04	%
Total interest-earning assets		918,916			10,619		4.60	%		868,588			9,289		4.25	%

Non-interest-earning assets		56,061								54,179
Total assets	$	974,977							$	922,767
Liabilities and equity:
NOW and money market accounts	$	65,767		$	329		1.99	%	$	74,785		$	354		1.88	%
Savings accounts		44,029			205		1.85	%		46,177			214		1.83	%
Certificates of deposit (1)		497,251			5,626		4.50	%		498,082			4,284		3.41	%
Total interest-bearing deposits		607,047			6,160		4.04	%		619,044			4,852		3.11	%

Federal Home Loan Bank advances (1)		196,885			1,802		3.64	%		125,344			1,220		3.86	%
Total interest-bearing liabilities		803,932			7,962		3.94	%		744,388			6,072		3.24	%
Non-interest-bearing deposits		31,679								38,257
Other non-interest-bearing liabilities		2,724								1,727
Total liabilities		838,335								784,372

Total equity		136,642								138,395
Total liabilities and equity	$	974,977							$	922,767
Net interest income				$	2,657							$	3,217
Interest rate spread (2)							0.66	%							1.01	%
Net interest margin (3)							1.15	%							1.47	%
Average interest-earning assets to average interest-bearing liabilities		114.30	%							116.68	%

1. Cash flow and fair value hedges are used to manage interest rate risk. During the three months ended September 30, 2024 and 2023, the net effect on interest expense on the Federal Home Loan Bank advances and certificates of deposit was a reduced expense of $498,000 and $92,000, respectively.
2. Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
3. Net interest margin represents net interest income divided by average total interest-earning assets.

	Nine Months Ended September 30,
	2024								2023
	Average Balance			Interest and Dividends		Yield/ Cost			Average Balance			Interest and Dividends		Yield/ Cost
	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	9,072		$	415		6.09	%	$	11,352		$	423		4.98	%
Loans		711,697			24,888		4.66	%		713,603			23,822		4.46	%
Securities		179,818			5,287		3.92	%		148,802			3,121		2.80	%
Other interest-earning assets		8,903			566		8.48	%		6,110			348		7.62	%
Total interest-earning assets		909,490			31,156		4.57	%		879,867			27,714		4.20	%
Non-interest-earning assets		58,221								54,380
Total assets	$	967,711							$	934,247
Liabilities and equity:
NOW and money market accounts	$	67,628		$	993		1.96	%	$	91,781		$	1,089		1.59	%
Savings accounts		43,824			608		1.85	%		49,529			375		1.01	%
Certificates of deposit (1)		510,494			16,784		4.39	%		498,460			11,314		3.03	%
Total interest-bearing deposits		621,946			18,385		3.95	%		639,770			12,778		2.67	%
Federal Home Loan Bank advances (1)		171,565			4,719		3.67	%		110,875			2,900		3.50	%
Total interest-bearing liabilities		793,511			23,104		3.89	%		750,645			15,678		2.79	%
Non-interest-bearing deposits		31,225								38,253
Other non-interest-bearing liabilities		6,154								6,351
Total liabilities		830,890								795,249
Total equity		136,821								138,998
Total liabilities and equity	$	967,711							$	934,247
Net interest income				$	8,052							$	12,036
Interest rate spread (2)							0.68	%							1.41	%
Net interest margin (3)							1.18	%							1.82	%
Average interest-earning assets to average interest-bearing liabilities		114.62	%							117.21	%

1. Cash flow and fair value hedges are used to manage interest rate risk. During the nine months ended September 30, 2024 and 2023, the net effect on interest expense on the Federal Home Loan Bank advances and certificates of deposit was a reduced expense of $1.2 million and $139,000, respectively.
2. Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
3. Net interest margin represents net interest income divided by average total interest-earning assets.

Rate/Volume Analysis

The following table sets forth the effects of changing rates and volumes on net interest income. The rate column shows the effects attributable to changes in rate (changes in rate multiplied by prior volume). The volume column shows the effects attributable to changes in volume (changes in volume multiplied by prior rate). The net column represents the sum of the prior columns. Changes attributable to changes in both rate and volume that cannot be segregated have been allocated proportionally based on the changes due to rate and the changes due to volume.


	Three Months Ended September 30, 2024									Nine Months Ended September 30, 2024
	Compared to									Compared to
	Three Months Ended September 30, 2023									Nine Months Ended September 30, 2023
	Increase (Decrease) Due to									Increase (Decrease) Due to
	Volume			Rate			Net			Volume			Rate			Net
	(In thousands)
Interest income:	(unaudited)
Cash and cash equivalents	$	(66	)	$	36		$	(30	)	$	(123	)	$	115		$	(8	)
Loans receivable		9			391			400			(101	)		1,167			1,066
Securities		420			469			889			742			1,424			2,166
Other interest earning assets		68			3			71			175			43			218
Total interest-earning assets		432			898			1,330			692			2,750			3,442

Interest expense:
NOW and money market accounts		(128	)		103			(25	)		(413	)		317			(96	)
Savings accounts		(24	)		15			(9	)		(73	)		306			233
Certificates of deposit		(49	)		1,391			1,342			279			5,191			5,470
Federal Home Loan Bank advances		1,031			(449	)		582			1,667			152			1,819
Total interest-bearing liabilities		830			1,060			1,890			1,461			5,965			7,426
Net decrease in net interest income	$	(398	)	$	(162	)	$	(560	)	$	(768	)	$	(3,216	)	$	(3,984	)

Contacts
Kevin Pace – President & CEO, 201-862-0660 ext. 1110

The MIL Network –

January 26, 2025

MIL-OSI China: Anticipated ‘Gods’ sequel to grace potential blockbuster holiday season

Source: China State Council Information Office 3

“After much anticipation, ‘Creation of the Gods II’ is finally scheduled!” wrote one thrilled Weibo user, echoing the collective excitement of eager fans.

Celebrating the epic’s return to China’s box office after an initial summer release plan was dropped due to reported post-production delays, a poster on Weibo declared, “The saga continues, the myth endures — fans’ calls have been answered.”

Unsurprisingly, news of “Creation of the Gods II” — the second installment in director Wuershan’s highly-anticipated trilogy — securing a Spring Festival release on Lunar New Year’s Day, Jan. 29, 2025, shot to the top of Weibo’s trending topics, setting the stage for what could be a blockbuster holiday season.

The first installment, “Creation of the Gods I: Kingdom of Storms,” made waves at the 2023 box office, grossing 2.63 billion yuan (around 369 million U.S. dollars) and winning three Golden Rooster awards, including Best Feature Film.

This second chapter raises the stakes with the city of Xiqi under siege and a climactic showdown over the “Fengshen Bang,” a mythical roster that bestows godhood upon worthy figures and serves as an artifact of immense power central to the film’s mythos.

Wuershan’s commitment to the “Creation of the Gods” series spans over a decade, with script development beginning in June 2014. The director and his team have woven the Chinese myths into every detail, drawing from ancient texts, paintings, and artifacts to craft a unique cinematic aesthetic, according to a statement from the film’s producers.

“I’ve dedicated a decade of my life to this project,” he said in a video interview. “With age, I may not have the physical capacity to take on such an intense production again, so I gave it my all.”

The “Creation of the Gods II” production team touts the film’s extensive visual effects, calling it a project “born for the big screen.” Featuring epic visuals, the first film resonated with audiences globally, with French media hailing it as the “Chinese Lord of the Rings.”

“Creation of the Gods” is frequently discussed alongside Guo Fan’s “The Wandering Earth” series, with critics noting both as showcasing the highest standards of industrial production in Chinese cinema.

“Filming for the trilogy spanned 18 months, with nearly 10,000 crew members working together across numerous technical departments,” Wuershan explained. “It features large-scale battle scenes and high-level CGI (Computer-Generated Imagery), requiring an extraordinary level of coordination.”

Also joining the Spring Festival lineup is “Boonie Bears: Future Reborn,” marking the 11th year of this family-favorite franchise’s release during the week-long Lunar New Year holiday.

Consistently drawing a stable fan base and amassing 7.7 billion yuan in total earnings to date, “Boonie Bears” is seen by cinema managers as a steady performer for the Spring Festival season and a reliable animated franchise.

The last release, “Boonie Bears: Time Twist,” saw its revenue hit a 2-billion-yuan milestone in 106 days. “‘Boonie Bears’ is the most successful IP in China,” noted Dong Wenxin, a cinema manager in east China’s Shandong Province.

The latest installment, “Boonie Bears: Future Reborn,” will deliver a fresh twist, taking characters Vick (Bald Qiang), Briar and Bramble 100 years into the future, where they join a young companion from this new world on a sci-fi adventure. This movie marks the finale of the franchise’s five-part sci-fi arc.

Meanwhile, “Operation Leviathan,” widely referred to as the sequel to the 2018 hit “Operation Red Sea,” is generating anticipation as a potential addition to the lineup.

The new action movie, currently in post-production according to Bona Film Group chairman Yu Dong, could be a game-changer for the lucrative holiday moviegoing period. Its predecessor, “Operation Red Sea,” topped box office charts for not only the Spring Festival holiday but also the entire year of 2018.

Fans are also watching closely to see if Chen Sicheng’s new “Detective Chinatown” film, Tsui Hark’s big-screen adaptation of Louis Cha’s “The Legend of the Condor Heroes” novel, or Enlight Pictures’ long-awaited sequel to the 2019 animated hit “Ne Zha” will join the lineup in the coming weeks. Even if only some of these high-profile titles make it to the 2025 Spring Festival slate, the season could easily become a “clash of the titans.”

This year’s Spring Festival holiday set a record with an 8 billion yuan haul. However, both the summer and National Day periods saw weaker-than-expected results, with analysts attributing it partly to a shortage of major releases. Understandably, this has heightened hopes for a vibrant Spring Festival to kick off 2025 on a high note.

MIL OSI China News –

January 26, 2025
MIL-OSI China: Chinese opera group spices celebration of China-Zambia diplomatic ties of 60 years

Source: China State Council Information Office 3

One of China’s most well-known art troupes spiced up celebrations of the 60th anniversary of China-Zambia diplomatic relations with a thrilling performance.

On Thursday night, the Zambia Chinese Association in collaboration with the Chinese Embassy in Zambia presented a cultural event as part of celebrations for the bilateral ties by showcasing Chinese dramas and musical compositions.

Presented by east China’s Zhejiang Wu Opera Research Center, the Wu Opera dazzled the audience, comprised of Chinese nationals and Zambian locals, who kept ululating and clapping for an encore.

They couldn’t help but take videos and photos of the intriguing performance.

The event saw the group providing various performances which included “9-Pieced Segment Dragon,” Suona Solo “Picking Dates,” Wu Opera “the goddess of heaven scatters flowers.”

Leonard Milomo, a resident of Lusaka, the capital of Zambia, was left mesmerized by the performance. Milomo said he was overwhelmed by the performance because it was something he had never seen.

“I am overwhelmed by the performance of our visitors from China. I have never seen such, it’s a very overwhelming feeling to be part of this partnership between Zambia and China, and it’s something that we also learn from culture and tradition,” he said in an interview.

Milomo said he would not hesitate to watch the performances anytime and that he was planning to visit during one of the holidays in order to have a feel of what China offers.

Chinese Ambassador to Zambia Han Jing said the frequent cultural exchanges and people-to-people exchanges between the two countries have brought the people of the two countries closer. And the cultural exchanges between the two countries have been happening frequently with art groups paying exchange visits.

Wu Opera, also known as Jinhua Opera, has a history of more than 500 years and is the second major regional operatic genre in Zhejiang Province. It first grew in popularity in Jinhua and its surrounding areas and was named after Wuzhou, the name of Jinhua in ancient China.

MIL OSI China News –

January 26, 2025
MIL-OSI China: Draft law revision aims to better protect personal privacy in anti-money laundering

Source: China State Council Information Office

An undated file photo shows a worker counting renminbi banknotes at a bank in Linyi, East China’s Shandong province. [Photo/Xinhua]

China is considering stepping up the protection of personal privacy in anti-money laundering work, a spokesperson said Friday.

A draft revision to the Anti-Money Laundering Law will be submitted for its third deliberation at a session of the country’s top legislature from next Monday to Friday, Huang Haihua, spokesperson for the Legislative Affairs Commission of the National People’s Congress Standing Committee, told a press conference.

Huang said that the draft revision stipulates that institutions providing anti-money laundering services and their staff should properly handle the data and information obtained during their services in accordance with the law.

The draft revision highlights that anti-money laundering work should ensure the smooth operation of regular financial services and capital flow, and safeguard the legitimate rights and interests of relevant institutions and individuals, according to Huang.

MIL OSI China News –

January 26, 2025
MIL-OSI China: Xi, Slovak PM meet in Beijing, agreeing to elevate ties

Source: China State Council Information Office

Chinese President Xi Jinping meets with Slovak Prime Minister Robert Fico, who is on an official visit to China, at the Great Hall of the People in Beijing, capital of China, Nov. 1, 2024. (Xinhua/Rao Aimin)

Chinese President Xi Jinping met with Slovak Prime Minister Robert Fico in Beijing on Friday.

Noting that this year marks the 75th anniversary of the establishment of diplomatic relations between China and Slovakia, Xi said that after three-quarters of a century of development, the traditional friendship between the two countries is full of vitality, and the cooperation in various fields has yielded fruitful results, bringing tangible benefits to the people of both countries.

“We have decided to elevate China-Slovakia relations to a strategic partnership, which meets the future development needs of both countries and will inject new and powerful momentum into bilateral cooperation,” Xi said, adding that China is willing to work together with Slovakia to open a new chapter in bilateral relations and lift their ties to a higher level.

Xi said the two countries need to deepen political mutual trust, calling on both sides to maintain high-level exchanges, strengthen strategic communication, adhere to mutual respect, equality and mutual benefit, and accommodate each other’s core interests and major concerns.

In order to expand pragmatic cooperation, Xi said the two countries should make good use of the newly established inter-governmental cooperation committee to strengthen synergy in new energy, transportation and logistics, infrastructure construction and water resources management. China encourages its enterprises to invest in Slovakia and welcomes Slovak enterprises to explore the market in China, he said.

Xi said the two countries should promote cultural and people-to-people exchanges. He called on both sides to carry out communication and dialogue among political parties, local governments, youth, think tanks, and the media, and make good use of platforms such as the Confucius Institutes to consolidate the foundation of public opinion for China-Slovakia friendship across generations.

China has decided to grant 15-day visa-free entry to Slovak citizens, Xi added.

Xi noted that the two countries need to strengthen international cooperation. In a complex and rapidly changing world, Xi said, both sides should uphold true multilateralism, firmly safeguard the international system with the United Nations at its core and the international order based on international law, advocate for an equal and orderly multipolar world and universally beneficial and inclusive economic globalization, embrace a vision of global governance featuring extensive consultation, joint contribution and shared benefits, and promote the building of a community with a shared future for humanity.

China attaches great importance to China-EU relations, Xi said, adding that next year marks the 50th anniversary of the establishment of diplomatic relations between China and the EU, and China-EU relations should demonstrate due maturity and stability.

Xi expressed the hope that the new EU institutions will adhere to the orientation of the China-EU partnership, adopt a positive and pragmatic approach, properly manage differences, and refrain from politicizing economic and trade issues.

Fico said Slovakia firmly adheres to the one-China policy and recognizes the government of the People’s Republic of China as the only legitimate government representing all of China. Slovakia opposes any interference in other countries’ internal affairs and advocates for respecting each country’s choice of development path.

Slovakia appreciates China’s decision to grant Slovak citizens the 15-day visa-free treatment, Fico said. Slovakia supports facilitating people-to-people exchanges between the two countries, and welcomes more Chinese enterprises to invest in the country and strengthen cooperation in areas such as new energy and infrastructure, he added.

Slovakia appreciates the three major global initiatives put forward by President Xi, and is willing to strengthen exchanges with China on state governance experience and actively promote the EU’s commitment to handling differences through dialogue and consultations, Fico said.

The two sides also exchanged views on the Ukraine crisis. Xi expounded on China’s consistent principle and position, commending Slovakia for adopting an objective, rational and impartial stance. He welcomed Slovakia, as well as more like-minded countries, to play a positive role in promoting peace talks.

Fico stated that China’s position on the Ukraine crisis is fair, objective and constructive. Slovakia is willing to join the group of Friends for Peace on the Ukraine crisis and work with China to contribute to the political settlement of the crisis.

Following the meeting, the two sides issued a joint statement on the establishment of a strategic partnership.

MIL OSI China News –

January 26, 2025
MIL-OSI China: Global scholars convene in Beijing to discuss role of innovation in human progress

Source: China State Council Information Office

A forum in Beijing has gathered global scholars and experts to discuss how to drive human advancement through innovation, as the world faces both opportunities and challenges posed by rapid scientific and technological progress.

“The rapid development of science and technology, along with emerging ideas and technologies, has not only transformed industrial and social structures but also posed new challenges to the international order and human civilization,” said Gong Qihuang, president of Peking University, while addressing the opening ceremony of the 2024 Beijing Forum on Friday.

Humanity needs more international scientific and technological cooperation than ever to solve common development problems, Gong added.

Building on the overarching theme of “The Harmony of Civilizations and Prosperity for All” from its inaugural edition in 2004, this year’s forum is themed “The Era of Innovation and Advancement of Mankind.”

Gong said that the ongoing event aims to drive development through innovation and create a platform for joint efforts in exploring the path to modernization for human society and the prosperity of global civilization.

Emphasizing the vital role of innovation in tackling global challenges, SK Group Chairman Chey Tae-won said that no single country or organization can address these issues alone in today’s era of innovation.

Shahid Khaqan Abbasi, former prime minister of Pakistan, called for efforts to bridge the digital divide to ensure inclusive economic growth and prioritize human development so that innovation can be fully leveraged. “We must ensure that innovation serves humanity’s greater good.”

According to Qian Chengdan, a well-known historian at Peking University, innovation is not only technological advancements or the development of new tools but also systemic innovations, new human ideas, and transformative changes in the overall fabric of human life.

The participants at the forum acknowledged China’s position as a global leader in innovation.

Gerard Mourou, the 2018 Nobel Prize winner in physics, noted that China has witnessed incredible advancements in scientific and technological development over the past decades.

Mourou, who assumed the role of a chair professor at Peking University this October, said he is highly impressed by the abilities of Chinese students, noting that they excel not only in their coursework but also in innovation.

Hani K. Findakly, chairman of the International Oversight Committee of the State of Qatar Chair in Middle Eastern Studies, Peking University, lauded China as a leading innovator. He noted that the country will play a crucial role in addressing climate change and other global challenges.

According to an innovation index report released by the World Intellectual Property Organization this year, China has ranked first in the number of the global top 100 sci-tech city clusters for two consecutive years.

Looking back at history, China has made significant contributions to human development and is poised to play an increasingly vital role in driving innovation in the future, Qian said.

This year’s forum garnered significant attention by drawing more than 500 experts and scholars from over 30 countries and regions, highlighting its status as a prominent global hub for academic and people-to-people exchanges.

Co-sponsored by Peking University, the Beijing Municipal Education Commission and the Chey Institute for Advanced Studies, the annual forum has attracted more than 7,000 distinguished guests and scholars from over 80 countries and regions since 2004.

MIL OSI China News –

January 26, 2025
MIL-OSI China: Spanish floods kill at least 205, PM pledges comprehensive support

Source: China State Council Information Office

Spain remains deeply shaken by the deadly flash floods that have left 205 people confirmed dead and wrecked havoc across the regions of Valencia, Castilla-La Mancha and Andalusia in the east and southeast parts of the country. As of Friday, many more are still unaccounted for.

With the ground too dry to absorb the intense rainfall, which exceeded 400 liters per square meter in many areas and reached up to 600 liters in some, the torrential overnight downpours on Tuesday led to devastating flash floods.

Videos posted on social media have shown torrents up to three meters high sweeping cars down the streets to pile them up as if they were toys. Bridges were swept away, railway tunnels collapsed and fields were swamped as people climbed onto roofs of their homes and cars to seek refuge, but not all survived.

The official death toll, initially 12 on Wednesday morning according to the Center for Coordinated and Integrated Operations, has now soared to 205, with 202 fatalities in the region of Valencia, two in Castilla-La Mancha and one in Andalusia.

The Feria de Valencia exhibition center has had to be used as a temporary mortuary. With many people still missing, the number of fatalities is expected to climb further.

The Spanish newspaper Eldiario.es reported on Friday that 1,900 people are still missing. Witnesses in the affected areas said many people had gone into underground garages to save their cars, only to be trapped by the extreme deluge. The media outlets are filled with heart wrenching stories, with loved ones making final calls from vehicles trapped in rising waters.

Moreover, over 130,000 homes lost power during the floods, and by Friday, power company Iberdrola confirmed that 23,000 homes still remained without electricity.

The floods left the Valencia region in eastern Spain almost isolated, with the high-speed rail link between the capital city of Madrid and Valencia closed for up to three weeks following the collapse of two tunnels.

Around 80 km of local rail lines and 100 roads were damaged, prompting the government to allocate 25 million euros (27 million U.S. dollars) on Friday for emergency repairs.

Spanish Prime Minister Pedro Sanchez visited the affected areas on Thursday and pledged comprehensive aid for recovery efforts. The government declared three days of official mourning as sporting events in the Valencia region were all postponed.

Meanwhile, nearly 2,000 military personnel, supported by 400 vehicles and 15 helicopters, have been deployed to assist in rescue and recovery operations. Hundreds of mud-caked Valencia volunteers were seen helping clear streets and homes with shovels and brooms.

However, police also reported that approximately 60 people have been detained for looting in the wake of the floods.

Relief support has poured in from across Spain, with funds being set up by the Red Cross and other agencies to aid rescue and recovery. Additionally, the international community, including the European Union, has offered assistance.

Three days after the deadliest floods in decades, Valencia remains under alert for further downpours, with high warnings issued for Huelva, Castellon, Mallorca, and Catalonia.

MIL OSI China News –

January 26, 2025
MIL-OSI China: Test-fire of latest ICBM ‘legitimate exercise of sovereign right to self-defence’: DPRK Foreign Ministry

Source: China State Council Information Office

The Foreign Ministry of the Democratic People’s Republic of Korea (DPRK) said the test-fire of the country’s latest intercontinental ballistic missile (ICBM) was “a legitimate and just exercise of its sovereign right to self-defence” and part of the counteraction in response to the provocative moves by hostile forces, the official Korean Central News Agency (KCNA) reported on Saturday.

In a statement issued on Friday, as reported by the KCNA, a DPRK Foreign Ministry spokesman accused the United States and its followers of intending to convene a meeting of the UN Security Council with an aim to “seriously encroach upon the DPRK’s right to self-defence,” in addition to staging joint air drills of aggressive nature on the Korean peninsula and in its vicinity while viciously slandering the reasonable exercise of sovereignty by the DPRK.

The Foreign Ministry expresses serious concern over the hostile forces’ confrontational behavior to create a critical situation against the DPRK security environment, and strongly denounces and rejects this act as “a wanton violation of the UN Charter and other recognized international laws” and “a grave challenge to international peace and security,” the statement said.

“It is the steadfast strategic option and will of the DPRK to thoroughly deter the danger of outbreak of a nuclear war and powerfully control and manage the political and military situation in the region by countering the ever-dangerous military threat of the U.S. and its vassal forces with the overwhelmed and absolute power,” said the statement.

The DPRK on Thursday conducted a “crucial” test of its latest ICBM Hwasongpho-19.

MIL OSI China News –

January 26, 2025
MIL-OSI China: 52 killed, 72 injured in Israeli airstrikes on E. Lebanon

Source: China State Council Information Office

Fifty-two people were killed and 72 others injured on Friday in Israeli airstrikes on the city of Baalbek and surrounding towns and villages in eastern Lebanon, said the Lebanese Health Ministry.

Israeli forces have intensified their attacks on eastern Lebanon over the past days after issuing warnings to citizens, calling for the evacuation of entire cities, villages, and towns in the area.

Most of the casualties occurred in localities including Baalbek, Al-Alaq, Younine, Badnayel, Al-Bazaliyah, Amhaz, Iaat, Labweh, Harbata, Nahle, Taraya, and Hawsh An Nabi.

The Israeli army has been waging intensive attacks on Lebanon in an escalation with Hezbollah since late September. In Early October, Israel initiated a ground operation across its northern border into Lebanon.

MIL OSI China News –

January 26, 2025
MIL-OSI China: 6th Friends of Paris Agreement High-level Dialogue held in Paris

Source: China State Council Information Office 3

Participants pose for a group photo during the sixth Friends of the Paris Agreement High-Level Dialogue in Paris, France, on Oct. 28, 2024. The sixth Friends of the Paris Agreement High-Level Dialogue was held in Paris on Oct. 28-29. Organized by the European Climate Foundation and co-organized by the Institute of Climate Change and Sustainable Development of Tsinghua University, the dialogue has drawn over 20 high-level officials from signatory countries. (the European Climate Foundation/Handout via Xinhua)

The sixth Friends of the Paris Agreement High-Level Dialogue was held in Paris on Oct. 28-29, where global leaders and stakeholders gathered to review both the significant progress and ongoing challenges faced by the international community in addressing climate-related crises since the Paris Agreement’s enactment.

The dialogue was co-chaired by Xie Zhenhua, former China’s special envoy for climate change, and Laurence Tubiana, former France’s climate change ambassador and special representative for COP21.

Organized by the European Climate Foundation and co-organized by the Institute of Climate Change and Sustainable Development of Tsinghua University, the dialogue has drawn over 20 high-level officials from signatory countries.

Among the attendees are Laurent Fabius, president of the French Constitutional Council and former French prime minister, John Kerry, former U.S. Secretary of State, Teresa Ribera, European Commission’s first executive vice-president, Luiz Alberto Figueiredo Machado, former Brazilian minister of External Relations, Catherine McKenna, former Canadian minister of environment and climate change, Selwin Hart, special adviser to the UN Secretary-General and Assistant Secretary-General of the Climate Action Team, and Liu Zhenmin, China’s special envoy for climate change.

As next year marks the 10th anniversary of the Paris Agreement, participants reached a consensus on the need for all countries to embody the spirit of the United Nations Climate Change Conference (COP21) amid the current complex global challenges.

They also emphasized a strong commitment to defending and upholding multilateralism, advancing the global process for climate action, and adhering to the principle of common but differentiated responsibilities.

The attendees also agreed that countries must continue advancing climate actions under the framework of the Paris Agreement, adopt faster and larger-scale international cooperation to ensure the timely achievement of global climate goals, and accelerate the global transition toward green, low-carbon, and climate-resilient development.

The participants also held in-depth discussions on various climate-related issues, such as the Nationally Determined Contributions (NDCs), climate finance, energy transition, and technological innovation.

They all agreed to further strengthen the role of the “Friends of the Paris Agreement,” supporting and advancing the success of this year’s UN Climate Change Conference in Baku (COP29) and laying the foundation for next year’s UN Climate Change Conference in Belem (COP30) in line with the goals and principles established by the UN Framework Convention on Climate Change and the Paris Agreement.

The Friends of the Paris Agreement High-level Dialogue was initiated in 2019. It is hosted annually on a rotating basis by the European Climate Foundation and the Institute of Climate Change and Sustainable Development of Tsinghua University.

The dialogue, gathering high-level representatives who have played key roles in the formulation and implementation of the Paris Agreement, serves as a platform for them to provide recommendations to the United Nations, the host countries of the Climate Conference and the secretariat of the UN Framework Convention on Climate Change, to promote the multilateral process.

MIL OSI China News –

January 26, 2025
MIL-OSI Asia-Pac: HKETO San Francisco celebrates long-term collaborations with film festivals in Hawai’i, New Mexico and California (with photos)

Source: Hong Kong Government special administrative region

HKETO San Francisco celebrates long-term collaborations with film festivals in Hawai’i, New Mexico and California (with photos)
HKETO San Francisco celebrates long-term collaborations with film festivals in Hawai’i, New Mexico and California (with photos)
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Through October, the Hong Kong Economic and Trade Office in San Francisco (HKETO San Francisco) celebrated another year of successful collaborations with the Hawai’i International Film Festival (HIFF) in Hawai’i, the Santa Fe International Film Festival (SFiFF) in New Mexico and the Los Angeles Asian Pacific Film Festival (LAAPFF) in California to foster cultural exchanges between Hong Kong and these locations in the United States. In Honolulu, Hawai’i, SFETO and its long-time collaborator HIFF once again curated the Spotlight on Hong Kong programme, which featured six Hong Kong productions that included new releases and a restored classic: “Love Lies”, “The Last Dance”, “Stuntman”, “All Shall Be Well”, “Fly Me to The Moon” and “Shanghai Blues”. The festival was held from October 3 to 13 (Honolulu time). Speaking at the VIP reception hosted by HKETO San Francisco on October 11 (Honolulu time), the Director of HKETO San Francisco, Ms Jacko Tsang, said the return of “Making Waves – Navigators of Hong Kong Cinema”, presented by the Hong Kong International Film Society, made the Hong Kong programme at the 44th edition of the festival even more remarkable this year. She pointed out that the First Feature Film Initiative supported by the Hong Kong Film Development Council had funded 24 films with over $120 million since 2013, and that SFETO was excited to showcase these excellent works by new talent in the Hong Kong film industry. At the Awards Gala of the HIFF on October 12 (Honolulu time), iconic Hong Kong actress and filmmaker Sandra Ng was honoured with the HIFF Spotlight On Hong Kong Filmmaker in Profile. She attended the festival with renowned filmmaker Peter Chan and received the award from celebrity comedian Ronny Chieng. Alongside Ng, Hong Kong actresses Patra Au and Michelle Wai, as well as directors Sasha Chuk, Anselm Chan, Albert Leung and Hebert Leung also participated in the festival. They attended live post-screening Q&A sessions at the primary screening of their respective films. The audience greatly appreciated their presence with enthusiastic interactions. In Santa Fe, New Mexico, HKETO San Francisco collaborated with SFiFF for the second consecutive year. “Twilight of the Warriors: Walled In” and “All Shall Be Well”, two talk-of-the-town feature films from Hong Kong, were showcased at the festival held from October 16 to 20 (Santa Fe time). Hosting the filmmakers’ brunch on October 19 (Santa Fe time), Ms Tsang introduced some of the latest measures implemented by the Hong Kong Government to inject new power into Hong Kong cinema, including the Hong Kong-Europe-Asian Film Collaboration Funding Scheme, which aims to subsidise film projects coproduced by filmmakers from European and Asian countries to produce films featuring Hong Kong, European and Asian cultures. She encouraged filmmakers to explore opportunities in Hong Kong and be a part of the revival journey of Hong Kong cinema. In Los Angeles, California, the third annual “LAAPFF Presents: Hong Kong Generations of Cinema” took place on October 26 and 27 (Los Angeles time) featuring six Hong Kong titles from different decades around the theme of Cantopop: “Rouge”, “Days of Being Wild”, “Happy Together”, “July Rhapsody”, “Anita” and “The Lyricist Wannabe”. Each film highlights the connection between music and storytelling in Hong Kong’s film history. Delivering her remarks after a special reception on October 26 (Los Angeles time), Ms Tsang said that the office was honoured to work with Visual Communications, the organisation behind the LAAPFF, to bring the programme to Los Angeles three years in a row. She expressed delight that the programme had expanded from a one-day showcase to a two-day celebration of Hong Kong cinema following the success of the first two years. The above Hong Kong film programmes were made possible with the support from the Film Development Fund, the Cultural and Creative Industries Development Agency, and the Culture, Sports and Tourism Bureau of the Hong Kong Special Administrative Region Government.

Ends/Saturday, November 2, 2024Issued at HKT 10:00

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MIL OSI Asia Pacific News –

January 26, 2025
MIL-OSI USA: President Joseph R. Biden, Jr. Approves Disaster Declaration for the Cheyenne River Sioux Tribe

Source: US Federal Emergency Management Agency

Headline: President Joseph R. Biden, Jr. Approves Disaster Declaration for the Cheyenne River Sioux Tribe

President Joseph R. Biden, Jr. Approves Disaster Declaration for the Cheyenne River Sioux Tribe

WASHINGTON – FEMA announced today that federal disaster assistance is available to the Cheyenne River Sioux Tribe to supplement the Tribal Nation’s efforts in the areas affected by a severe storm, straight-line winds and flooding from July 13-14, 2024.The President’s action makes federal funding available to affected individuals in the Cheyenne River Sioux Tribe. Assistance can include grants for temporary housing and home repairs, low-cost loans to cover uninsured property losses and other programs to help individuals and business owners recover from the effects of the disaster.Federal funding is also available to the Cheyenne River Sioux Tribe and certain private nonprofit organizations on a cost-sharing basis for emergency work and the repair or replacement of facilities damaged by the severe storm, straight-line winds and flooding.Federal funding is also available on a cost-sharing basis for hazard mitigation measures for the Cheyenne River Sioux Tribe.Edwin J. Martin has been named the Federal Coordinating Officer for federal recovery operations in the affected areas. Additional designations may be made at a later date if requested by the Tribal Nation and warranted by the results of further damage assessments. Individuals and business owners who sustained losses in the designated areas can begin applying for assistance at www.DisasterAssistance.gov, by calling 800-621-3362 or by using the FEMA App. If you use a relay service, such as video relay service (VRS), captioned telephone service or others, give FEMA the number for that service.
amy.ashbridge
Sat, 11/02/2024 – 02:02

MIL OSI USA News –

January 26, 2025
MIL-OSI China: Flights between Xi’an and Paris resume

Source: People’s Republic of China – State Council News

Flights between China’s Xi’an and Paris, France, resumed on Wednesday, strengthening travel links between China and Europe. The new schedule for the Xi’an-Paris route includes flights every Wednesday, with a one-way flight time of approximately 11 and a half hours. The Xi’an-Paris route is served by a Boeing 787-9 wide-body aircraft with a seating capacity of 290.

The route is the fifth direct flight from Xi’an to Europe and the second direct intercontinental flight from northwest China to France.

MIL OSI China News –

January 26, 2025
MIL-OSI Security: KS25 | The 623rd ACS can’t be pinned down

Source: United States INDO PACIFIC COMMAND

MISAWA AIR BASE, Japan –

The 623 Air Control Squadron worked with the Japanese Air Self-Defense Force (JASDF) to provide battle management in support of Exercise Keen Sword 25 (KS25) Oct 18 – Nov 1, 2024.

After travelling over 1,500 miles from their home station at Kadena Air Base, Japan, the 623rd ACS integrated with their U.S Air Force, U.S. Marine Corps and JASDF counterparts to successfully provide command and control capabilities to aircraft participating in KS25.

“Maintaining a good relationship with joint service and the Japanese Self-Defense Force allows us to understand and use their systems,” said Capt. Zackary Schreiber, 623rd ACS detachment commander. “So, if we have to step for an exercise or a real world emergency, we know how each other functions and how to keep information flowing.”

While at Misawa, the 623rd ACS operated out of two separate locations. One team assembled a shelter tent where they utilized the mobile Tactical Operations Center – Light kit while working side-by-side with the Marine Corps and their Ground/Air Task Oriented Radar system. The second team worked out of the direction center with the 610th ACS assigned to Misawa Air Base and the JASDF.

Keen Sword demonstrates and advances U.S.-Japan interoperability and reinforces solidarity of the U.S.-Japan alliance by exercising the most modern equipment and procedures under realistic conditions.

The direction center team worked with the JASDF and the 610th to control missions and provide information to aircraft flying in support of KS25. The teams debriefed extensively after every mission to continue optimizing their individual and combined capabilities.

“Seeing the way that the JASDF out here uses their systems has opened a lot of doors for us to take back and improve our processes at Kadena,” said Tech. Sgt. Patrick Wolfe, 623rd ACS flight chief of weapons and tactics. “Also, we shared our standards and advancements with the other ACS units.”

One thing that Wolfe said he specifically appreciated were the JASDF radio assignment and management processes because they were digitized which increased the ease of information flow.

“It’s been a great experience working with the JASDF at Misawa,” said Schreiber. “They are just as experienced and professional as the service members I am used to working with.”

The 623rd ACS, alongside joint force and allied partners, encountered realistic and relevant training opportunities that increased their ability to plan, communicate, and conduct multi-domain operations.

“It feels like we’re actually deployed to the field,” said Tech. Sgt. Sherraye Carter, 623rd ACS noncommissioned officer in charge of command and control integrations. “It’s really important to fully experience that, not only for the Airmen personally, but for the equipment as well.”

MIL Security OSI –

January 26, 2025
MIL-OSI Security: Keen Sword 25: U.S. Air Force, Japanese Forces Unite for First Integrated Rapid Airfield Damage Repair Training

Source: United States INDO PACIFIC COMMAND

AOMORI, Japan –

U.S. and Japanese forces launched their first fully integrated Rapid Airfield Damage Repair (RADR) training on Oct. 30, 2024, as part of exercise Keen Sword 25, a biennial event focused on joint readiness and operational resilience in the Indo-Pacific.

This year’s Keen Sword exercise unites all branches of the Japanese Self-Defense Forces (JSDF)—Ground, Maritime, and Air—in joint operations with U.S. forces. The training centers on strengthening interoperability and enhancing mission resilience in contingency scenarios, a critical aspect of maintaining security in the region.

“This is the first time we’ve trained with all components of the Japanese military,” said U.S. Air Force Master Sgt. Alexander Manco, 35th Civil Engineer Squadron (CES) prime base engineer emergency force manager.

In the past, the 35th CES and the Japan Air Self-Defense Force have conducted RADR training, but in this iteration, this is the first time the 35th CES has had the opportunity to work alongside all the branches of the JSDF.

“Through RADR exercises, we’re able to practice real-world airfield recovery scenarios with our Japanese allies, which strengthens our ability to maintain airfield functionality under challenging conditions,” Manco added.

RADR is a multi-staged process that quickly and effectively repairs airfields, allowing for flightline operations to continue in combat or natural disaster situations. This comprehensive training covers various aspects, including damage assessment, debris removal, and the application of expedient repair methods for runways and other critical infrastructure.

The training also involves hands-on experience with heavy equipment and specialized materials, such as concrete or fiberglass covers, with an emphasis on safety protocols and efficient repair strategies in order to maintain operational readiness even under challenging conditions.

The RADR training within Keen Sword 25 builds vital infrastructure repair skills ensuring both U.S. and Japanese forces are prepared to restore airfield capabilities quickly if needed.

“This exercise not only reinforces the U.S.-Japan security alliance but also provides an invaluable opportunity for our members to work closely with Japanese counterparts,” Manco explained.

The U.S.-Japan alliance is founded on shared interests, values, and a commitment to freedom and human rights. Both nations remain focused on maintaining regional peace and security in the Indo-Pacific, including building new partnerships and enhancing multilateral cooperation.

“Our participation in Keen Sword 25 allows us to refine critical skills in rapid airfield recovery and reinforces our readiness to respond alongside our Japanese counterparts,” said, Lt Col. Daniel Blomberg, 35th Civil Engineer Squadron commander. “This exercise not only strengthens our interoperability but ensures we’re prepared to restore and maintain operational capabilities under any conditions, contributing to a stronger regional defense posture.”

MIL Security OSI –

January 26, 2025
MIL-OSI Security: U.S., Japan successfully conclude joint bilateral exercise Keen Sword 25

Source: United States INDO PACIFIC COMMAND

JAPAN –

Forces from the U.S., Japan, Australia and Canada concluded exercise Keen Sword 25 on Nov. 1 after ten days of integrated training across Japan.

Keen Sword 25 was a joint bilateral exercise Japan designed to increase readiness and interoperability while strengthening the ironclad U.S.-Japan alliance. This year’s Keen Sword was the largest iteration of this exercise since its inception in 1986. The overall event included participants from the Japan Self-Defense Force (JSDF), Australian Defence Force (ADF), Canadian Armed Forces (CAF) and U.S. service members from across the joint force. The exercise began Oct. 23 following a bilateral press conference on Oct. 22.

Throughout the exercise, U.S. forces worked alongside JSDF and partner nation forces to hone skills and maintain warfighting readiness. Bilateral and multilateral events undertaken as part of Keen Sword 25 included joint live fire training, medical mass casualty exercises, installation security forces training and simulated airfield damage repair, among others.

Participants took advantage of the unique training environment to enhance tactics, techniques, and procedures across a wide range of military operations in support of furthering interoperability between U.S., JSDF and participating allied forces, strengthening deterrence, and regional stability. The training occurred throughout mainland Japan and its surrounding territorial waters.

Keen Sword continues to be an opportunity to demonstrate the ironclad nature of the U.S. – Japan alliance, which is built on shared interests and values and a commitment to freedom and human rights. Both countries are focused on ensuring regional peace and security in the Indo-Pacific region, including building new partnerships and strengthening multilateral cooperation.

Participants in Keen Sword 25 include U.S. Indo-Pacific Command (USINDOPACOM), U.S. Space Command (USSPACECOM), U.S. Pacific Fleet (PACFLT), U.S. Marine Corps Forces, Pacific (MARFORPAC), U.S. Army Pacific (USARPAC), Pacific Air Forces (PACAF), U.S. Forces Japan (USFJ), U.S. 7th Fleet (C7F), III Marine Expeditionary Force (III MEF), U.S. Army Japan (USARJ), U.S. Naval Forces Japan (CNFJ) 5th Air Force (5 AF) along with forces originating from units across the Department of Defense.

MIL Security OSI –

January 26, 2025
MIL-OSI New Zealand: Child fatally struck on driveway, Palmerston North

Source: New Zealand Police (National News)

To be attributed to Detective Senior Sergeant David Thompson:

Police are investigating after a small child was fatally struck by a car in a driveway on Terry Crescent in Palmerston North today.

Police were alerted to the incident at 1.15pm today, after the child was taken to hospital by family members.

Tragically the child was unresponsive when they arrived at the hospital and was unable to be revived.

The Serious Crash Unit has completed a scene examination at the property on Terry Crescent.

Officers are speaking to family members to establish the full circumstances, and we are also working to support them following this tragic incident.

At this stage there is no further information or comment available.

ENDS

Issued by Police Media Centre.

MIL OSI New Zealand News –

January 26, 2025
MIL-OSI Asia-Pac: Hong Kong Legal Week 2024 to commence on Monday

Source: Hong Kong Government special administrative region

     Hong Kong Legal Week 2024, an annual flagship event of the legal sector and the Department of Justice (DoJ), is one of the most anticipated legal and dispute resolution events in the region and beyond. Themed “Hong Kong Common Law System: World-Class Springboard to China and Beyond”, the five-day event will start Monday (November 4) and run until November 8. The Hong Kong Legal Week 2024 will provide an opportunity for participants to engage in a series of professional and insightful discussions and exchanges with prominent experts, practitioners, government officials and academics on a wide spectrum of topics from international law, developments in alternative dispute resolution, opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area, to the rule of law in the region and beyond.

Hong Kong Legal Week 2024 will open on Monday with the Asia-Pacific International Private Law Summit, co-organised by the International Institute for the Unification of Private Law and the DoJ. The Hong Kong International Legal Talents Training Academy, one of the policy initiatives set out in the 2023 Policy Address, will also be officially launched on the last day of this year’s Hong Kong Legal Week.

     In addition to the insightful events, there will be an exhibition at the venue highlighting the achievements in the construction of the rule of law by the country in the modern era, and the role played by Hong Kong in contributing to the developments.

A series of international and important events to be featured at the Hong Kong Legal Week 2024 are as below:

November 4
* Asia-Pacific International Private Law Summit 2024

November 5
* The Second Legal Forum on Interconnectivity and Development

November 6
* Beyond Litigation: The Vibrant Landscape of Alternative Dispute Resolution of Hong Kong
* 2024 Hong Kong Mediation Lecture

November 7
* Joint Contribution to the Construction of Rule of Law in the GBA

November 8
* Rule of Law: The Best Business Environment

     For more details on Hong Kong Legal Week 2024, please visit the dedicated website at www.legalweek.hk. Live broadcasts will be available on the dedicated website and at webcast.info.gov.hk.

MIL OSI Asia Pacific News –

January 26, 2025
MIL-OSI Asia-Pac: President Lai meets delegation from Estonian parliamentary Foreign Affairs Committee

Source: Republic of China Taiwan

President Lai meets delegation from Estonian parliamentary Foreign Affairs Committee
President Lai meets delegation from Estonian parliamentary Foreign Affairs Committee
2024-11-01

On the afternoon of November 1, President Lai Ching-te met with a delegation from the Foreign Affairs Committee of the Riigikogu (Parliament of Estonia). In remarks, President Lai thanked Estonia for staunchly supporting Taiwan’s international participation and said that Taiwan has the responsibility, the ability, and the willingness to contribute even more to the international community in every domain. The president expressed his hope that we can work together to continue deepening the partnership between Taiwan and Estonia, and that by strengthening cooperation with European Union member states across many areas, we can jointly respond to the challenges posed by expanding authoritarianism, thereby safeguarding global peace, stability, and prosperity.
A translation of President Lai’s remarks follows:
I extend a warm welcome to our good friends from the Foreign Affairs Committee of the Riigikogu. This is Chairman Marko Mihkelson’s second visit to Taiwan. He visited last August with a delegation of parliamentary foreign affairs committee chairs from the Baltic states. Members of the Riigikogu Ester Karuse and Luisa Rõivas are also visiting again, having been part of a delegation led by Estonia-Taiwan Support Group Chairman Kristo Enn Vaga in March.
Your presence here demonstrates that Taiwan-Estonia relations are growing closer. I believe that with your support and assistance, our alliance, based on the shared values of freedom and democracy, and our economic and trade partnership are sure to grow even stronger. For this, I express my sincere gratitude.
The international landscape and geopolitical environment are changing rapidly. Expanding authoritarianism is challenging the universal values of freedom and democracy as well as the rules-based international order. At this critical juncture, it is even more imperative that like-minded nations unite and work together to safeguard global peace, stability, and prosperity.
In addition to strengthening cooperation with other nations to defend the values of freedom and democracy, Taiwan has actively sought inclusion in such international organizations and mechanisms as the World Health Organization, the International Civil Aviation Organization, and the United Nations Framework Convention on Climate Change. More than just a matter of the fundamental human rights of the 23 million people of Taiwan, it demonstrates that Taiwan has the responsibility, the ability, and the willingness to contribute even more to the international community in every domain.
I want to take this opportunity to thank Estonia for staunchly supporting Taiwan’s international participation. In particular, Health Minister Riina Sikkut once again spoke out for Taiwan’s meaningful engagement at this year’s World Health Assembly. We sincerely appreciate Estonia for holding Taiwan in such high regard and for taking this stand. I would also like to congratulate former Estonian Prime Minister Kaja Kallas on her appointment as High Representative of the European Union for Foreign Affairs and Security Policy. This attests to the crucial role that Estonia plays in uniting the strengths of the EU and like-minded nations around the world.
Looking ahead, we hope that, with your assistance, we will continue to deepen the partnership between Taiwan and Estonia. And by strengthening cooperation with EU member states in such areas as the economy, trade, and security, we can jointly respond to the challenges posed by expanding authoritarianism. In closing, I wish you a smooth and productive visit.
Chairman Mihkelson then delivered remarks, saying that he is honored to lead the first-ever delegation from the Estonian parliamentary Foreign Affairs Committee to Taiwan. Mentioning that yesterday they had witnessed Typhoon Kong-rey, he said that not even typhoons can break the very good relations between Estonia and Taiwan.
Chairman Mihkelson expressed his gratitude for the opportunity to meet with President Lai today and discuss very important topics, such as how to improve relations between our nations. Noting that we are living in a very turbulent world, he said that Taiwan and Estonia are like-minded nations whose relations have changed dramatically in a very positive direction from several years ago to today. The chairman observed that we have had numerous reciprocal visits and expressed his hope that one day we can mutually establish representative offices between Taiwan and Estonia.
Chairman Mihkelson emphasized that Taiwan and Estonia are strong democracies, and that we see today both in East Asia and also in Europe that democracies are under attack. In Estonia and Europe, he said, they are worried about Russia’s ongoing invasion of Ukraine. He said that the aim of both Russia and its supporters is not only Ukraine, but also to change the world order. And the recent news that North Korean troops are to participate in the aggression against Ukraine, he added, makes this conflict global.
Chairman Mihkelson stated that the reason they are here, besides strengthening our bilateral relations, is to find ways democracies can together support Ukraine, because the outcome of this war is similarly important for their own security as well as for Taiwan’s security. He said that Estonia lost its freedom for 50 years and that ever since it regained independence in 1991, there has been a very strong political consensus, but also support within society, that Estonia should never be alone again when it comes to its security and international relations. This is why, he explained, they are seeking very good partnerships with like-minded countries like Taiwan.
In closing, Chairman Mihkelson emphasized that we should do whatever it takes in our cooperation as democracies to never be challenged by autocracies. He then once again expressed his thanks for hosting them here today.
The delegation also included Deputy Chairman of the Foreign Affairs Committee Henn Põlluaas and Deputy Chair of the Anti-Corruption Select Committee Eerik-Niiles Kross.

MIL OSI Asia Pacific News –

January 26, 2025
MIL-OSI China: Macao has full backing of central authorities: Spokesperson

Source: China State Council Information Office 2

A file photo taken on July 1, 2021 shows the scene at the iconic Golden Lotus Square of Macao where a flag-raising ceremony is held to celebrate the 100th anniversary of the founding of the Communist Party of China. [Photo/Xinhua]
President Xi Jinping’s meeting with Sam Hou Fai, the incoming chief executive of the Macao Special Administrative Region (SAR), fully demonstrates the central authorities’ wholehearted support for Macao’s development, a spokesperson for the Hong Kong and Macao Affairs Office of China’s State Council said on Friday.
The Friday meeting also reflects the central authorities’ earnest expectation for Macao to continuously advance the successful practice of “one country, two systems,” said the spokesperson.
The sound environment of Macao today is a vivid testament to the great vitality and strength of the “one country, two systems” principle, the spokesperson said.
During the meeting, President Xi reiterated that the central authorities will stay committed to fully and faithfully implementing the “one country, two systems” principle under which the people of Macao administer Macao with a high degree of autonomy, noted the spokesperson, adding that this constitutes the greatest source of confidence for securing steady and continued success of “one country, two systems” in Macao.
The spokesperson also expressed the belief that the new chief executive and government of the Macao SAR will unite all sectors of the Macao society and continuously break new ground in the practice of “one country, two systems” with Macao characteristics.

MIL OSI China News –

January 26, 2025
MIL-OSI China: Housing market enjoys upswing

Source: China State Council Information Office

An aerial photo taken on Feb. 17, 2020 shows buildings under construction in Nanguan District of Changchun city, northeast China’s Jilin province. [Photo/Xinhua]

In October, the total transaction volume of China’s new and secondhand homes experienced their first increase after an eight-month decline, said the Ministry of Housing and Urban-Rural Development on Friday.

The nationwide sales volume of new homes rose 0.9% year-on-year in October, according to the ministry’s data.

The increase marks the first positive growth in the new housing sector after 15 consecutive months of declines since June of last year.

In addition, the transaction volume for second-hand homes grew by 8.9% year-on-year, extending its growth streak to seven months.

Overall, the combined transaction volumes of new and secondhand homes increased by 3.9% year-on-year in October, marking a significant turnaround following eight months of consistent decreases since February, the ministry said.

The real estate market in major cities may experience a “mild winter” this year and transaction volumes are expected to maintain a high momentum, with home prices holding steady under the influence of recent policy adjustments, said Zhang Dawei, chief analyst at Centaline Property, in an interview.

Data from the ministry also showed that in October, the growth in housing sales has extended beyond first-tier cities, indicating a broader market recovery across regions nationwide.

In first-tier cities, new home sales volumes rose by 14.1% year-on-year, while second-hand home transactions surged by 47.3% year-on-year in October.

Cities including Guangzhou, Shenzhen and Dongguan in Guangdong province, Nanjing in Jiangsu province, Ningbo in Zhejiang province, and Dalian in Liaoning province have seen strong growth in new home sales, up over 30% year-on-year, while second-hand home transactions in Beijing, Shanghai, Shenzhen and Hangzhou increased by more than 50%.

At the regional level, 11 provincial-level regions reported year-on-year growth in new home sales in October, an increase from five provinces in the previous month. Tianjin Municipality, Guangdong, Jiangxi, Hunan and Jiangsu provinces led with growth rates of above 10%. Additionally, 20 provincial-level regions saw increases in second-hand housing sales, a rise of two in quantity from September.

As the central government’s recent key policies have demonstrated a rather proactive and positive stance as well as a strong commitment to stabilizing the economy and halting the decline in the real estate sector, more local-level supportive policies are also expected to be implemented in the near future, said Guorong Securities’ research team.

MIL OSI China News –

January 26, 2025
MIL-OSI China: China’s listed companies report growing profits

Source: China State Council Information Office

A file photo shows an exterior view of the Shanghai Stock Exchange at Pudong New Area in Shanghai, east China. [Photo/Xinhua]

Companies listed on China’s stock exchanges have reported net profit growth in the third quarter of 2024.

As of Thursday, 5,368 publicly-traded companies had released quarterly reports. Their combined net profits reached 1.52 trillion yuan (about $213.7 billion) from July to September, growing 4.9% year on year and 3.9% over the previous quarter.

From January to September, these listed firms reported 52.64 trillion yuan in operating revenues and 4.43 trillion yuan in net profits. Of them, 2,947 companies posted growth in operating revenues and 2,149 corporations saw an increase in net profit.

In the first three quarters, the publicly-traded companies invested 1.1 trillion yuan in research and development, representing a year-on-year growth of 3.9%.

MIL OSI China News –

January 26, 2025
MIL-OSI China: HKSAR gov’t welcomes first batch of brokers eligible for cross-boundary wealth management connect

Source: China State Council Information Office

Photo taken on July 31, 2021 shows the statues on the square of Hong Kong Exchanges and Clearing Limited (HKEX) in south China’s Hong Kong. [Photo/Xinhua]

The Hong Kong Special Administrative Region (HKSAR) government on Friday welcomed the announcements of the first batch of brokers eligible to participate in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) Cross-boundary Wealth Management Connect Pilot Scheme.

Fourteen licensed corporations in Hong Kong are qualified to offer cross-boundary investment services for investors from the GBA, according to the Securities and Futures Commission of Hong Kong. They will work in partnership with brokers of the Chinese mainland confirmed by the China Securities Regulatory Commission.

A spokesperson for the HKSAR government said that the Wealth Management Connect has been growing steadily since its launch in September 2021, and measures commencing on Feb. 26 this year to enhance the scheme have received enthusiastic market response.

The first batch of brokers joining the scheme can help better satisfy GBA residents’ demand for asset allocation and create more development opportunities for the industry, the spokesperson said.

This will strengthen Hong Kong’s status as an international asset management center, the spokesperson added.

MIL OSI China News –

January 26, 2025
MIL-OSI China: Sustained drive set to boost spending

Source: China State Council Information Office

A consumer shops at a supermarket in Tengzhou, east China’s Shandong Province, April 11, 2024. [Photo/Xinhua]

China will ramp up efforts to reinvigorate consumer spending and drive domestic demand across various sectors, to give a much-needed fillip to the country’s economic growth momentum in the final stretch of the year, officials and analysts said.

Consumption vouchers in the service sector and new incentives for businesses, among others, will be rolled out to facilitate the transition of the world’s second-largest economy toward a more consumption-led model, they added.

China’s retail sales growth accelerated by 1.1 percentage points in September compared to the previous month, indicating a positive shift in the country’s consumer market. The country will better harness the power of consumption to propel its development, Vice-Minister of Commerce Sheng Qiuping said on Friday.

By launching the consumption promotion campaign in November, the country will further unleash the potential of consumption and strongly underpin the year-end economic performance, Sheng said at a news conference.

The initiative will guide offline businesses to actively engage in promotional activities, while fostering synergies with the ongoing Double Eleven shopping festival, Sheng added. Double Eleven is an e-commerce shopping fiesta that culminates on Nov 11 each year.

In the month ahead, Beijing, Tianjin, Shanghai, and Chongqing will distribute consumption vouchers specifically for catering, cultural tourism, and sports services, according to Sheng.

China’s service consumption demand has remained robust, with the retail sales of services growing 6.7% year-on-year in the first three quarters of this year, outpacing the growth in goods retail by 3.7 percentage points, data from the National Bureau of Statistics showed.

By encouraging consumption in the service industries, China can better capitalize on the growing middle-income group and their increasing preference for experiential and lifestyle-oriented spending, said Chen Lifen, a researcher at the Development Research Center of the State Council.

Meanwhile, Shanghai and Guangzhou, Guangdong province, will offer support and incentives to businesses that introduce new offerings, such as launching first stores, products or exhibitions.

That is the debut economy in action. It covers everything from the unveiling of a product for the first time, the opening of flagship stores, and the launch of new services, to the creation of new business models and technologies, said Chen Wenling, chief economist at the China Center for International Economic Exchanges.

These activities are often characterized by their trendiness, cutting-edge features, and high-quality attributes, effectively aligning with consumers’ growing demand for diverse and premium experiences, Chen added.

MIL OSI China News –

January 26, 2025
MIL-OSI China: China hopes talks with EU on EV anti-subsidy probe will bring agreement: MOC

Source: China State Council Information Office

People experience a BYD Han electric car during a media preview of the 100th Brussels Motor Show in Brussels, Belgium, Jan. 13, 2023. [Photo/Xinhua]

China’s Ministry of Commerce (MOC) said on Friday that it hoped the new phase of talks on price commitment with the European Union (EU) regarding the latter’s anti-subsidy probe into China-made electric vehicles (EV) will reach a mutually acceptable solution.

In a statement, the MOC said that the technical teams of China and the EU have immediately launched a new phase of consultations on price commitment following a discussion held via video link on Oct. 25 between Chinese Commerce Minister Wang Wentao and European Commission Executive Vice President and Trade Commissioner Valdis Dombrovskis.

After intensive communication, the EU side indicated that it will be in China to continue consultations on the specific contents of the plan, the MOC said.

“China welcomes this and hopes that the next phase of consultations will follow the principle of pragmatism and balance to reach a solution acceptable to both sides,” the MOC said.

On Oct. 29, the EU said it had decided to impose definitive countervailing duties of up to 35.3 percent on EVs from China for a period of five years.

MIL OSI China News –

January 26, 2025
MIL-OSI China: New climate financing goal expected

Source: China State Council Information Office

China will collaborate with other Global South countries at an upcoming conference to push for a new, ambitious climate financing goal from developed nations that can adequately support climate actions in developing countries.

Formerly known as the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change, COP29 is slated to be held in Baku, Azerbaijan, from Nov 11 to 22.

Xia Yingxian, director of the Ministry of Ecology and Environment’s Department of Climate Change, made the remarks at a news conference organized by the State Council Information Office in Beijing on Friday.

Emphasizing the critical need to adhere to the objectives and principles outlined in the Convention and the Paris Agreement, Xia expressed China’s aspirations for COP29 to send a resoundingly positive message that the global climate multilateral process is irreversible and that international cooperation is absolutely essential.

He highlighted that the UN assembly must enhance the efficacy of global endeavors in combating the climate crisis, offer sustained momentum for worldwide green, low-carbon transitions and innovations, and buttress climate resilience.

Xia especially underscored the pivotal importance of a specific climate financing target from developed countries for developing nations to achieve a successful COP29.

A key task for the UN climate gathering is to establish a New Collective Quantified Goal on climate financing, which represents a post-2025 climate financing commitment from developed economies to developing nations.

In 2009, developed countries pledged to deliver $100 billion per year in international climate funding by 2020. The 2015 Paris Agreement on climate change extended the target, requiring contributing nations to maintain the annual contribution through 2025. But the promise has not yet been fully materialized.

Xia said parties should adhere to the authorization of Article 9 of the Paris Agreement. This means that developed countries must fulfill their funding obligations and continue to lead in mobilizing funds, rather than renegotiate or rewrite relevant arrangements, he said.

Article 9 stipulates that “developed country parties shall provide financial resources to assist developing country parties with respect to both mitigation and adaptation in continuation of their existing obligations under the Convention”.

The official stressed a specific target number from developed nations as “golden key” and “master switch” to ensure fruitful outcomes from COP29. He stated that the conference must ensure that the level of support from developed countries aligns with the level of action taken by developing countries.

Continuously aligning with fellow developing nations, China will press developed countries to meet their financial commitments and devise innovative and substantial financial assistance to adequately support climate initiatives in developing countries, he said.

“China is willing to work together with all parties to make efforts for the success of COP29,” Xia said.

MIL OSI China News –

January 26, 2025
MIL-OSI China: China to give visa-free treatment to another 9 countries

Source: China State Council Information Office

Travelers pass through customs at Beijing Daxing International Airport in Beijing, capital of China, July 18, 2024. [Photo/Xinhua]

Beijing decided to give visa-free treatment to another nine countries to further encourage cross-border travel, Foreign Ministry spokesman Lin Jian said on Friday.

China will extend the visa-free policy to ordinary passport holders from Slovakia, Norway, Finland, Denmark, Iceland, Andorra, Monaco, Liechtenstein and the Republic of Korea on a trial basis, Lin said.

According to Lin, from November 8, 2024, to December 31, 2025, ordinary passport holders from these nine countries will be exempt from visas to enter China and can stay for no more than 15 days for business, tourism, family visits and transit purposes.

MIL OSI China News –

January 26, 2025