NewzIntel.com

Category: China

  • MIL-OSI Russia: Mongolia’s measles cases rise to 4,274

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    ULAN BATOR, May 30 (Xinhua) — Mongolia recorded 335 new measles cases in the past 24 hours, bringing the total number of confirmed cases in the country to 4,274, the country’s National Research Center for Infectious Diseases said on Friday.

    Over the past day, 114 patients recovered, and a total of 2,793 people have recovered in Mongolia, the official statement says.

    Most of the confirmed cases have been among children aged 10 to 14 who have only received one measles vaccine, Mongolian doctors say. Epidemiologists recommend vaccinating children with two doses.

    Measles is an acute, highly contagious infectious disease caused by a virus. Symptoms include fever, dry cough, runny nose, sore throat, and inflammation of the mucous membrane of the eyes. Measles can only be prevented through vaccination, Mongolian doctors emphasize. –0–

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Speech by SJ at Global Forum on International Mediation (English only)

    Source: Hong Kong Government special administrative region

         Following are the welcoming remarks by the Secretary for Justice, Mr Paul Lam, SC, at the Global Forum on International Mediation today (May 30):
     
    Your Excellencies, distinguished guests, ladies and gentlemen,
     
         It is with great pleasure that I welcome you all to the inaugural Global Forum on International Mediation.
     
         This morning, altogether 32 state parties including China signed the Convention on the Establishment of the International Organization for Mediation. This is undoubtedly a historic event since the International Organization for Mediation (IOMed) will be the first international intergovernmental organisation devoted to the use of mediation in resolving international disputes. We all hope that the Convention will enter into force as soon as practicable.
     
         While the Convention has already set out the framework and the essential terms concerning the operation of the IOMed, the state parties would need to consider and agree on further details to ensure the smooth operation of the Convention. To ensure and attract more state parties’ support and participation, it is also necessary to raise people’s awareness of mediation as a means of resolving international disputes and to enhance the capacity to use it in practice. In these circumstances, it is most pertinent to hold this Global Forum on International Mediation immediately after the signing ceremony of the Convention.
     
         The IOMed will provide mediation services for the settlement of the following three types of international disputes: disputes between states, disputes between a state and a national of another state and international commercial disputes between private entities. This afternoon, we are extremely honoured and privileged to have a distinguished panel of moderators and speakers, who will share their views in two panels: the first one will focus on mediation of disputes among states, whereas the second session will focus on mediation of international investment and commercial disputes. Our distinguished moderators and speakers consist of leaders or former leaders of state parties, as well as from international organisations and multilateral development banks; and also experts and other key stakeholders in international mediation.
     
         To set the scene, I would like to highlight the significance of mediation in resolving international disputes and the important role that Hong Kong will play in the operation of the IOMed.
     
         Put simply, mediation is a process whereby the parties in dispute attempt to reach a mutually acceptable and amicable settlement of their dispute on a voluntary basis with the assistance of a third party who may facilitate a solution between the parties to the dispute but without the power to impose it upon the parties. As compared to traditional means of resolving international disputes such as litigation or arbitration, mediation is clearly more forward-looking, constructive and conducive to repairing the relationship between the two sides.
     
         It is well-known that peaceful settlement of international disputes is one of the most fundamental principles of international law and international relations. The use of mediation as a means to settle international disputes peacefully is expressly mentioned in Article 33 of the Charter of the United Nations, and also the Declaration on Principles of International Law concerning Friendly Relations and Cooperation among States in accordance with the Charter of the United Nations passed by the United Nations General Assembly in 1970.
     
         The United Nations General Assembly has passed altogether four resolutions on “Strengthening the role of mediation in the peaceful settlement of disputes, conflict prevention and resolution” on June 22, 2011, September 13, 2012, July 31, 2014, and September 9, 2016, respectively. In the most recent one dated September 9, 2016, the UN General Assembly recognised mediation as an efficient and cost-effective tool in the peaceful settlement of disputes, conflict prevention and resolution, and welcomed its increased use. It acknowledged the importance of mediation in the peaceful settlement of disputes, conflict prevention and resolution and in seeking long-term political solutions for sustaining peace, and recognised that mediation needs to be further and more effectively used.
     
         On the other hand, the role of mediation in resolving international commercial and investment disputes between a state and a foreign national or between private entities from different countries is also well acknowledged and recognised. As early as 1980, the United Nations Commission on International Trade Law (UNCITRAL) developed and adopted the UNCITRAL Mediation Rules, which were subsequently revised in 2021. And more recently, in 2024, UNCITRAL published the Guidelines on Mediation for International Investment Disputes. The United Nations Convention on International Settlement Agreements Resulting from Mediation, which entered into force in September 2020, offered another example of international efforts in promoting mediation.
     
         While mediation may be conducted on an ad hoc basis, there are clear advantages to conducting mediation with institutional supports. Institutional supports may include, for example, guidance on procedural aspects; assistance in communicating with the other party; identification of a pool of mediators and assistance in their selection and appointment; assistance in the logistic aspects of mediation including the organisation of in-person and remote meetings; as well as providing for data protection and cybersecurity measures.
     
         In the circumstances, in order to promote and facilitate the use of mediation to resolve international disputes, it is most desirable to have an intergovernmental organisation devoted to the use of mediation to resolve international disputes. The establishment of the IOMed has filled a glaring omission in the past international dispute resolution system. The Organization will complement the other two intergovernmental organisations specialising in international dispute resolution, namely, the International Court of Justice and the Permanent Court of Arbitration.
     
         The headquarters of the IOMed will be crucial to the implementation of the Convention. It represents the physical presence of the institution, and provides the platform to provide various mediation services. I am extremely grateful that the state parties to the Convention have agreed to establish the headquarters of the IOMed here in Hong Kong, which is a strong vote of confidence in Hong Kong. I would respectfully submit that Hong Kong is indeed an ideal place to host the headquarters of the IOMed.
     
         Hong Kong is a special administrative region of China, which has taken the lead in the establishment of the IOMed. Under the principle of “one country, two systems”, Hong Kong enjoys numerous unique advantages, which put it in the best position to serve as the headquarters of the IOMed. As President Xi Jinping said on December 20, 2024, in Macao at the ceremony celebrating the 25th anniversary of China’s resumption of sovereignty over Macao, the principle of “one country, two systems” embodies the fundamental values of peace, openness, harmony and sharing. These are also the intrinsic values behind the Convention.
     
    Hong Kong is a well-known world-class international financial, trading and shipping centre. Its geographical location, well-developed transportation services and liberal immigration policy ensure that people from around the world may and can come here easily. Hong Kong is also one of the safest and most friendly cities in the world. We offer diversified services in different aspects to suit the needs of people speaking different languages coming from different cultures, religions and countries.
     
         But most importantly in the present context, under the principle of “one country, two systems”, Hong Kong is the only common law jurisdiction in China, and the only bilingual common law jurisdiction using both Chinese and English in the world. We have a strong pool of legal professionals coming from different jurisdictions who specialise and are experienced in international dispute resolutions. The legal system of, and the legal services provided by, Hong Kong are highly international, reputable and efficient. It is undoubtedly an international legal services and dispute resolution services centre.
     
         Hong Kong has been a keen supporter of mediation. The HKSAR Government has formulated a comprehensive set of policy initiatives, which aim at deepening the mediation culture in Hong Kong. For example, the Policy Statement on the Incorporation of Mediation Clauses in Government Contracts was issued in November 2024. As a matter of general policy, the Government will incorporate a mediation clause in all government contracts. By taking the lead, it is hoped that private entities would be encouraged to include mediation clauses in their contracts, thereby deepening our “mediate first” culture.
     
         Turning to capacity building regarding international mediation, since 2018, the Department of Justice has been co-organising with reputable international organisations, almost on a yearly basis, Investment Law and Investor-State Mediator Training in Hong Kong. The Hong Kong International Legal Talents Training Academy under the Department of Justice was set up in November 2024, which may collaborate with the IOMed in organising capacity building programmes on international mediation in future.
     
         Hong Kong is also continuously seeking to foster legal co-operation with other jurisdictions. It is our honour that, in a moment, the Department of Justice of the HKSAR Government will sign a Memorandum of Co-operation with Cambodia.
     
         On this very happy and positive note, I would like to conclude by wishing you all a very fruitful and constructive Forum this afternoon. Thank you very much.
     

    MIL OSI Asia Pacific News –

  • MIL-OSI: UP Fintech Holding Limited Reports Unaudited First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, May 30, 2025 (GLOBE NEWSWIRE) — UP Fintech Holding Limited (NASDAQ: TIGR) (“UP Fintech” or the “Company”), a leading online brokerage firm focusing on global investors, today announced its unaudited financial results for the first quarter ended March 31, 2025.

    Mr. Wu Tianhua, Chairman and CEO of UP Fintech stated: “The macro environment remained dynamic in the first quarter, our total revenues reached US$122.6 million, representing an increase of 55.3% year-over-year. Benefiting from our brand strength and continued investment in R&D, both our GAAP and non-GAAP net income saw impressive growth. Net income attributable to ordinary shareholders of UP Fintech was US$30.4 million, up 8.4% quarter over quarter and 146.7% year over year. Non-GAAP net income attributable to ordinary shareholders of UP Fintech reached US$36.0 million, an increase of 18.3% sequentially and 145.0% from the same period last year.

    In the first quarter, we added 60,900 new customers with deposits, already achieving 40% of our yearly guidance of 150,000 new customers with deposits for 2025, and bringing our total number of customers with deposits at the end of the first quarter to 1,152,900, a 23.5% increase compared to the same quarter last year. Asset inflow remained strong, we saw net asset inflow of US$3.4 billion in the first quarter, of which the majority comes from retail users, combining with a US$776 million mark to market gain, led total account balance rose by 9.9% quarter over quarter and 39.5% year over year to US$45.9 billion, setting another historic high. We also achieved notable growth in Hong Kong, the average net asset inflows of new funded clients in Hong Kong during the first quarter were above US$30,000.

    In the first quarter, we continued to roll out new features aimed at enhancing the user experience across our platform. In Hong Kong, we introduced additional functionality on top of its existing virtual asset trading service. Retail investors can now deposit and withdraw cryptocurrency, such as Bitcoin and Ethereum, while professional investors are also able to deposit and withdraw USDT. Additionally, Tiger Brokers Hong Kong recently launched Delivery Versus Payment (DVP) functionality, which strengthens our ability to serve institutional and high-net-worth clients. We also introduced equity repo services to further enhance our securities lending and treasury management capabilities. In addition, we remain committed to improving our Tiger AI offering based on user feedback. It now supports portfolio and watchlist analysis, allowing users to more effectively identify investment opportunities, receive risk alerts on their holdings, and access actionable strategy suggestions.

    In our Corporate business, we underwrote 4 Hong Kong IPOs in the first quarter, including “Chifeng Gold” and “Nanshan Aluminum”, and acted as distributor for “Mixue Group”, the largest Hong Kong IPO in the first quarter. In our ESOP business, we added 20 new clients in the first quarter, bringing the total number of ESOP clients served to 633 as of March 31, 2025.”

    Financial Highlights for First Quarter 2025

    • Total revenues were US$122.6 million, an increase of 55.3% year-over-year and a decrease of 1.2% quarter-over-quarter.
    • Total net revenues were US$107.6 million, an increase of 67.7% year-over-year and an increase of 0.2% quarter-over-quarter.
    • Net income attributable to ordinary shareholders of UP Fintech was US$30.4 million compared to a net income of US$12.3 million in the same quarter of last year.
    • Non-GAAP net income attributable to ordinary shareholders of UP Fintech was US$36.0 million, compared to a non-GAAP net income of US$14.7 million in the same quarter of last year. A reconciliation of non-GAAP financial metrics to the most comparable GAAP metrics is set forth below.

    Operating Highlights for First Quarter 2025

    • Total account balance increased 39.5% year-over-year to US$45.9 billion.
    • Total margin financing and securities lending balance increased 89.4% year-over-year to US$5.2 billion.
    • Total number of customers with deposit increased 23.5% year-over-year to 1,152,900.

    Selected Operating Data for First Quarter 2025

        As of and for the three months ended
        March 31,     December 31,     March 31,
        2024     2024     2025
    In 000’s                
    Number of customer accounts     2,247.4       2,449.3       2,526.7
    Number of customers with deposits     933.4       1,092.0       1,152.9
    Number of options and futures contracts traded     10,850.3       18,926.3       20,400.7
    In USD millions                
    Trading volume     85,410.6       198,016.9       217,453.6
    Trading volume of stocks     28,606.3       55,502.6       59,453.4
    Total account balance     32,872.1       41,725.2       45,861.9
                           

    First Quarter 2025 Financial Results

    REVENUES

    Total revenues were US$122.6 million, an increase of 55.3% from US$78.9 million in the same quarter of last year.

    Commissions were US$58.3 million, an increase of 109.8% from US$27.8 million in the same quarter of last year, due to an increase in trading volume.

    Financing service fees were US$2.6 million, a decrease of 9.6% from US$2.8 million in the same quarter of last year, primarily due to a decrease of the account balance of our fully disclosed account customers.

    Interest income was US$53.8 million, an increase of 22.7% from US$43.8 million in the same quarter of last year, primarily due to the increase in margin financing and securities lending activities of our consolidated account customers.

    Other revenues were US$7.9 million, an increase of 76.8% from US$4.5 million in the same quarter of last year, primarily due to an increase in currency exchange income and wealth management income.

    Interest expense was US$15.0 million, an increase of 1.7% from US$14.8 million in the same quarter of last year, primarily due to the increase in funding for margin financing activities.

    OPERATING COSTS AND EXPENSES

    Total operating costs and expenses were US$67.1 million, an increase of 32.1% from US$50.8 million in the same quarter of last year.

    Execution and clearing expenses were US$5.3 million, an increase of 139.3% from US$2.2 million in the same quarter of last year due to an increase in our trading volume.

    Employee compensation and benefits expenses were US$33.8 million, an increase of 21.7% from US$27.8 million in the same quarter of last year, primarily due to an increase of global headcount to support our global expansion.

    Occupancy, depreciation and amortization expenses were US$2.1 million, a slight increase of 0.2% from US$2.1 million in the same quarter of last year.

    Communication and market data expenses were US$9.8 million, an increase of 14.4% from US$8.6 million in the same quarter of last year due to increased IT-related service fees.

    Marketing and branding expenses were US$10.9 million, an increase of 147.5% from US$4.4 million in the same quarter of last year, primarily due to higher marketing spending this quarter.

    General and administrative expenses were US$5.1 million, a decrease of 9.4% from US$5.7 million in the same quarter of last year due to a decrease in professional service fees.

    NET INCOME attributable to ordinary shareholders of UP Fintech

    Net income attributable to ordinary shareholders of UP Fintech was US$30.4 million, as compared to a net income of US$12.3 million in the same quarter of last year. Net income per ADS – diluted was US$0.166, as compared to a net income per ADS – diluted of US$0.077 in the same quarter of last year.

    Non-GAAP net income attributable to ordinary shareholders of UP Fintech, which excludes share-based compensation, was US$36.0 million, as compared to a US$14.7 million non-GAAP net income attributable to ordinary shareholders of UP Fintech in the same quarter of last year. Non-GAAP net income per ADS – diluted was US$0.198 as compared to a non-GAAP net income per ADS – diluted of US$0.092 in the same quarter of last year.

    For the first quarter of 2025, the Company’s weighted average number of ADSs used in calculating non-GAAP net income per ADS – diluted was 184,472,928. As of March 31, 2025, the Company had a total of 2,649,914,037 Class A and B ordinary shares outstanding, or the equivalent of 176,660,936 ADSs.

    CERTAIN OTHER FINANCIAL ITEMS

    As of March 31, 2025, the Company’s cash and cash equivalents, term deposits and long-term deposits were US$406.4 million, compared to US$396 million as of December 31, 2024.

    As of March 31, 2025, the allowance for doubtful accounts on receivables from customers was US$14.8 million compared to US$15.3 million as of December 31, 2024.

    In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets (“ASU 2023-08”). ASU 2023-08 requires certain crypto assets to be measured at fair value separately on the balance sheet with changes reported in the statement of operations each reporting period.

    The Company adopted this guidance from January 1, 2025, and the Company recorded such crypto asset balance in Crypto assets held as of March 31, 2025, with a cumulative-effect adjustment of US$2.3 million to the opening balance of Retained earnings.

    Updates to Management and Directors

    Mr. Ming Liao departed from the position of Independent Director at the Company due to personal reasons, effective May 28, 2025. Mr. Liao’s departure was not the result from any disagreement with the Company.

    Conference Call Information:

    UP Fintech’s management will hold an earnings conference call at 8:00 AM on May 30, 2025, U.S. Eastern Time (8:00 PM on May 30, 2025, Singapore/Hong Kong Time).

    All participants wishing to attend the call must preregister online before receiving the dial-in number. Preregistration may take a few minutes to complete.

    Preregistration Information:

    Please note that all participants will need to pre-register for the conference call, using the link:
    https://register-conf.media-server.com/register/BId8a2d4cd09e14653b3533b8d3745dfa0

    It will automatically lead to the registration page of “UP Fintech Holding Limited First Quarter 2025 Earnings Conference Call”, where details for RSVP are needed.

    Upon registering, all participants will be provided a confirmation email with a participant dial-in number and personal PIN to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information.

    Additionally, a live and archived webcast of the conference call will be available at https://ir.itigerup.com

    Use of Non-GAAP Financial Measures

    In evaluating our business, we consider and use non-GAAP net income attributable to ordinary shareholders of UP Fintech and non-GAAP net income per ADS – diluted as supplemental measures to review and assess our operating performance. The presentation of the non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with the United States Generally Accepted Accounting Principles (“U.S. GAAP”). We define non-GAAP net income attributable to ordinary shareholders of UP Fintech as net income attributable to ordinary shareholders of UP Fintech excluding share-based compensation. Non-GAAP net income per ADS – diluted is non-GAAP net income attributable to ordinary shareholders of UP Fintech divided by the weighted average number of diluted ADSs.

    We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. Non-GAAP net income attributable to ordinary shareholders of UP Fintech enables our management to assess our operating results without considering the impact of share-based compensation. We also believe that the use of these non-GAAP financial measures facilitates investors’ assessment of our operating performance.

    These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as an analytical tool. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expenses that affect our operations. Share-based compensation has been and may continue to be incurred in our business and are not reflected in the presentation of non-GAAP net income attributable to ordinary shareholders of UP Fintech. Further, these non-GAAP financial measures may differ from the non-GAAP financial information used by other companies, including peer companies, and therefore their comparability may be limited.

    These non-GAAP financial measures should not be considered in isolation or construed as alternatives to total operating costs and expenses, net income attributable to ordinary shareholders of UP Fintech or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review these historical non-GAAP financial measures in light of the most directly comparable GAAP measures. These non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing our data comparatively. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.

    About UP Fintech Holding Limited

    UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors. The Company’s proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world. The Company offers innovative products and services as well as a superior user experience to customers through its “mobile first” strategy, which enables it to better serve and retain current customers as well as attract new ones. The Company offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion and customer support. The Company’s proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearinghouses.

    For more information on the Company, please visit: https://ir.itigerup.com.

    Safe Harbor Statement

    This announcement contains forward−looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as “may,” “might,” “aim,” “likely to,” “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements or expressions. Among other statements, the business outlook and quotations from management in this announcement, the Company’s strategic and operational plans and expectations regarding growth and expansion of its business lines, and the Company’s plans for future financing of its business contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties, including the earnings conference call. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward−looking statements. Forward−looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s ability to effectively implement its growth strategies; trends and competition in global financial markets; changes in the Company’s revenues and certain cost or expense accounting policies; the cooperation relationships with our business partners and shareholders such as Interactive Brokers LLC and Xiaomi Corporation and its affiliates; and governmental policies and regulations affecting the Company’s industry and general economic conditions in China, Singapore and other countries. Further information regarding these and other risks is included in the Company’s filings with the SEC, including the Company’s annual report on Form 20-F filed with the SEC on April 23, 2025. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Further information regarding these and other risks is included in the Company’s filings with the SEC.

    For investor and media inquiries please contact:

    Investor Relations Contact

    UP Fintech Holding Limited

    Email: ir@itiger.com

    UP FINTECH HOLDING LIMITED
    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
    (All amounts in U.S. dollars (“US$”))
     
        As of
    December 31,    		     As of
    March 31,    		  
        2024     2025  
        US$     US$  
    Assets:            
    Cash and cash equivalents     393,576,874       403,891,218  
    Cash-segregated for regulatory purpose     2,464,683,625       2,849,477,420  
    Term deposits     1,075,260       1,101,083  
    Receivables from customers (net of allowance of US$15,284,002 and US$14,790,668 as of December 31, 2024 and March 31, 2025)     1,052,972,649       1,221,616,295  
    Receivables from brokers, dealers, and clearing organizations     2,305,740,507       2,556,498,087  
    Financial instruments held, at fair value     75,547,082       177,479,943  
    Prepaid expenses and other current assets     17,629,819       19,529,054  
    Amounts due from related parties     16,720,671       13,821,867  
    Total current assets     6,327,946,487       7,243,414,967  
    Non-current assets:            
    Long-term deposits     1,369,994       1,378,037  
    Right-of-use assets     10,880,673       12,736,333  
    Property, equipment and intangible assets, net     15,358,528       15,750,823  
    Crypto assets held     —       3,410,986  
    Goodwill     2,492,668       2,492,668  
    Long-term investments     7,658,809       7,473,531  
    Equity method investment     10,203,622       10,305,433  
    Other non-current assets     6,828,553       8,623,671  
    Deferred tax assets     8,573,135       9,931,234  
    Total non-current assets     63,365,982       72,102,716  
    Total assets     6,391,312,469       7,315,517,683  
    Current liabilities:            
    Payables to customers     3,574,651,125       4,333,279,026  
    Payables to brokers, dealers and clearing organizations:     1,914,769,701       1,975,967,952  
    Accrued expenses and other current liabilities     67,263,254       75,891,783  
    Lease liabilities-current     4,153,928       4,845,376  
    Amounts due to related parties     874,331       53,588,763  
    Total current liabilities     5,561,712,339       6,443,572,900  
    Convertible bonds     159,505,397       160,158,584  
    Lease liabilities- non-current     5,902,323       6,992,755  
    Deferred tax liabilities     2,068,661       2,161,995  
    Total liabilities     5,729,188,720       6,612,886,234  
    Mezzanine equity            
    Redeemable non-controlling interest     7,177,668       5,518,571  
    Total Mezzanine equity     7,177,668       5,518,571  
    Shareholders’ equity:            
    Class A ordinary shares     25,427       25,523  
    Class B ordinary shares     976       976  
    Additional paid-in capital     619,030,730       624,497,561  
    Statutory reserve     12,425,463       12,425,463  
    Retained earnings     37,843,547       70,712,884  
    Treasury stock     (2,172,819 )     (2,172,819 )
    Accumulated other comprehensive loss     (11,919,310 )     (8,090,989 )
    Total UP Fintech shareholders’ equity     655,234,014       697,398,599  
    Non-controlling interests     (287,933 )     (285,721 )
    Total equity     654,946,081       697,112,878  
    Total liabilities, mezzanine equity and equity     6,391,312,469       7,315,517,683  
    UP FINTECH HOLDING LIMITED  
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME  
    (All amounts in U.S. dollars (“US$”), except for number of shares (or ADSs) and per share (or ADS) data)  
       
        For the three months ended  
        March 31,     December 31,     March 31,  
        2024     2024     2025  
        US$     US$     US$  
    Revenues:                  
    Commissions     27,786,218       55,964,174       58,307,151  
    Interest related income                  
    Financing service fees     2,832,065       2,770,419       2,560,432  
    Interest income     43,841,220       55,762,091       53,805,393  
    Other revenues     4,488,989       9,605,165       7,936,987  
    Total revenues     78,948,492       124,101,849       122,609,963  
    Interest expense     (14,789,835 )     (16,731,341 )     (15,041,810 )
    Total Net revenues     64,158,657       107,370,508       107,568,153  
    Operating costs and expenses:                  
    Execution and clearing     (2,230,863 )     (6,095,132 )     (5,338,917 )
    Employee compensation and benefits     (27,787,218 )     (37,163,110 )     (33,805,808 )
    Occupancy, depreciation and amortization     (2,144,337 )     (2,137,586 )     (2,149,308 )
    Communication and market data     (8,561,482 )     (11,787,814 )     (9,794,869 )
    Marketing and branding     (4,390,987 )     (9,507,918 )     (10,867,048 )
    General and administrative     (5,667,137 )     (6,432,737 )     (5,136,346 )
    Total operating costs and expenses     (50,782,024 )     (73,124,297 )     (67,092,296 )
    Other income (expense):                  
    Others, net     3,615,219       3,469,021       (1,340,064 )
    Income before income tax     16,991,852       37,715,232       39,135,793  
    Income tax expenses     (4,528,297 )     (9,488,084 )     (8,549,158 )
    Net income     12,463,555       28,227,148       30,586,635  
    Less: net (loss) income attributable to non-controlling interests     (17,914 )     12,563       11,527  
    Accretion of redeemable non-controlling interests to redemption value     (151,322 )     (164,328 )     (155,983 )
    Net income attributable to ordinary shareholders of UP Fintech     12,330,147       28,050,257       30,419,125  
    Other comprehensive income (loss), net of tax:                  
    Unrealized gain on available-for-sale investments     —       343,892       —  
    Changes in cumulative foreign currency translation adjustment     (4,791,040 )     (17,440,809 )     3,826,640  
    Total Comprehensive income     7,672,515       11,130,231       34,413,275  
    Less: comprehensive (loss) income attributable to non-controlling interests     (13,454 )     24,226       9,845  
    Accretion of redeemable non-controlling interests to redemption value     (151,322 )     (164,328 )     (155,983 )
    Total Comprehensive income attributable to ordinary shareholders of UP Fintech     7,534,647       10,941,677       34,247,447  
    Net income per ordinary share:                  
    Basic     0.005       0.011       0.012  
    Diluted     0.005       0.011       0.011  
    Net income per ADS (1 ADS represents 15 Class A ordinary shares):                  
    Basic     0.079       0.164       0.173  
    Diluted     0.077       0.158       0.166  
    Weighted average number of ordinary shares used in calculating net income per ordinary share:                  
    Basic     2,342,468,897       2,557,911,677       2,634,972,699  
    Diluted     2,452,022,959       2,687,607,158       2,767,093,920  
    Reconciliations of Unaudited Non-GAAP Results of Operations Measures to the Nearest Comparable GAAP Measures
    (All amounts in U.S. dollars (“US$”), except for number of ADSs and per ADS data)
     
        For the three months ended March 31,2024     For the three months ended December 31,2024     For the three months ended March 31,2025  
              non-GAAP                 non-GAAP                 non-GAAP        
        GAAP     Adjustment     non-GAAP     GAAP     Adjustment     non-GAAP     GAAP     Adjustment     non-GAAP  
        US$     US$     US$     US$     US$     US$     US$     US$     US$  
        Unaudited     Unaudited     Unaudited     Unaudited     Unaudited     Unaudited     Unaudited     Unaudited     Unaudited  
                2,380,637   (1 )               2,421,342   (1 )               5,621,791   (1 )    

    Net income attributable to ordinary shareholders of UP Fintech

    		     12,330,147       2,380,637       14,710,784       28,050,257       2,421,342       30,471,599       30,419,125       5,621,791       36,040,916  
                                                           
    Net income per ADS – diluted     0.077             0.092       0.158             0.172       0.166             0.198  
    Weighted average number of ADSs used in calculating diluted net income per ADS     163,468,197             163,468,197       179,173,811             179,173,811       184,472,928             184,472,928  

    (1) Share-based compensation.

    The MIL Network –

  • MIL-OSI China: China to see over 80 mln railway passenger trips around Dragon Boat Festival holiday

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

    China to see over 80 mln railway passenger trips around Dragon Boat Festival holiday

    BEIJING, May 30 — China’s railway network is expected to handle approximately 80.5 million passenger trips during the five-day travel rush around Dragon Boat Festival holiday, the national railway operator said Friday.

    The travel rush period kicked off Friday, a day ahead of the 3-day holiday, while Saturday is expected to witness the peak passenger flow for this period, with roughly 18.3 million railway trips predicted nationwide, said China State Railway Group Co., Ltd.

    According to China’s 12306 railway booking platform, popular destinations for this year’s holiday include Beijing, Shanghai, Guangzhou, Chengdu, Hangzhou, Wuhan, Xi’an, Nanjing, Changsha and Zhengzhou.

    Platform data also shows that the Beijing-Shanghai, Beijing-Jinan, Beijing-Taiyuan, Beijing-Nanjing and Shenzhen-Hong Kong routes are among the most popular during the period.

    To cater to elevated travel needs, China’s railways have increased capacity while also improving service quality to ensure better passenger experiences.

    The Dragon Boat Festival, also known as Duanwu Festival, falls on Saturday this year.

    MIL OSI China News –

  • MIL-OSI China: Dragon Boat Festival: Racing for health and happiness

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

    ▲ What is the Dragon Boat Festival?

    The Dragon Boat Festival, also known as Duanwu Festival, is one of China’s oldest and most celebrated traditions, with a history spanning over two millennia. True to its name, the festival is best known for its lively dragon boat races, where people gather to compete and cheer the racers on.

    Traditionally, the festival falls on the fifth day of the fifth month in the Chinese lunar calendar. In 2025, it will be celebrated on May 31.

    Scan QR code to launch interactive version:

    ▲ How popular are dragon boat races?

    In recent years, dragon boat racing has surged in popularity, attracting both amateur and professional teams across China and around the world.

    For instance, in 2024, the Suzhou Jinji Lake International Dragon Boat Race in Suzhou city, east China’s Jiangsu province, drew 66 teams and 1,418 participants, including seven international teams from countries such as Austria, Germany, Russia, Singapore and Switzerland.

    The sport’s growing global appeal was further highlighted last year with the launch of the Frankfurt Dragon Boat Festival in Germany and the Prague Dragon Boat Festival in the Czech Republic.

    ▲ Why do people celebrate the Dragon Boat Festival?

    The origins of the Dragon Boat Festival are deeply rooted in Chinese culture, with several theories explaining its rich history. One prominent view ties the festival to ancient dragon worship, where dragon boat racing was a symbolic tribute to the powerful dragon deity.

    Another widely told folk tale associates the festival with the poet Qu Yuan (340–278 B.C.). According to legend, when Qu Yuan drowned himself in the Miluo River to mourn the fall of his state, local villagers raced out in their boats to search for him or recover his body. This urgent act of devotion is said to have evolved into today’s dragon boat races.

    In modern times, dragon boat racing has grown beyond its traditional roots, becoming a vibrant sport that merges China’s cultural heritage with a contemporary competitive spirit.

    The Dragon Boat Festival, typically observed in late May or early June, also coincides with a period when ancient Chinese communities feared natural disasters and illness. Consequently, people historically used the festival to pray for good health and safety for their families.

    Today, the festival remains a moment to seek good fortune and celebrate prosperity. Falling close to the Summer Solstice, it also provides a lively break as China enters the height of summer heat.

    ▲ What other traditions are observed during the festival?

    A rich tapestry of traditions and legends has been passed down through generations, adding depth to the Dragon Boat Festival’s cultural significance.

    ——▼ Wrapping and eating ‘Zongzi’  

    One staple of the celebration is “zongzi,” a beloved culinary treat closely tied to the festival. In ancient China, these traditional rice dumplings were originally made as offerings to honor ancestors and deities. 

    Zongzi are distinctive for their pyramid shape, made from glutinous rice wrapped in reed or bamboo leaves and tied with colorful thread. Fillings vary by region and preference, ranging from sweet options like jujube and bean paste to savory choices such as fresh meat, ham and egg yolk.

    ——▼ Drinking realgar wine

    Realgar wine, a distinctive Chinese liquor infused with realgar, played a practical role in ancient times. Realgar was valued as a pesticide to keep mosquitoes at bay during the hot summer months and was also believed to act as an antidote to various poisons. Today, drinking realgar wine has become a cherished Dragon Boat Festival tradition.

    ——▼ Hanging mugwort and calamus

    During the festival, Chinese families often hang mugwort and calamus above their doors, mainly to repel insects. In ancient times, it was also widely believed that displaying mugwort, calamus or even pomegranate flowers could ward off misfortune and drive away evil spirits.

    ——▼ Wearing colored braids and perfumed pouches

    It’s also common for parents to make perfumed pouches or colorful braids for their children during the festival. This tradition is rooted in the belief that wearing these items provides protection against evil spirits and illness.

    These small, intricately designed pouches are filled with fragrant herbs or medicinal ingredients and are typically tied to children’s clothing. The colorful braids, traditionally made from five different colors of thread, are fastened around the wrist.

    MIL OSI China News –

  • MIL-OSI China: ‘Mission: Impossible – The Final Reckoning’ delivers high-octane, nostalgic chapter

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

    “Mission: Impossible – The Final Reckoning” creators shared behind-the-scenes stories and reflected on the franchise as the film’s China premiere on May 26 delivered a high-adrenaline yet nostalgic theater experience.

    A still image from “Mission: Impossible – The Final Reckoning.” [Photo courtesy of Paramount Pictures]

    “There is never an easy day on ‘Mission: Impossible.’ I wouldn’t have it any other way,” the producer and lead actor Tom Cruise said. It is now a 30-year story, he went on to say, “This new movie is a gargantuan accomplishment. It’s a culmination of everything, and I mean everything, that me and McQ [Christopher McQuarrie], have learned in storytelling over the course of making these movies. ‘The Final Reckoning’ is elegant, very layered and incredibly epic. We’ve only been able to achieve what we have because of all the things that we’ve done in this series so far.”

    “Mission: Impossible – The Final Reckoning” continues Ethan Hunt’s story as he and his fractured IMF team face The Entity, a world-ending AI. Having survived a train crash cliffhanger, Ethan (Cruise), Luther (Ving Rhames), Benji (Simon Pegg), and Grace (Hayley Atwell) reunite. With the help of a former nemesis, Paris (Pom Klementieff), they battle against Gabriel (Esai Morales) and The Entity. 

    The film features some truly impossible cinematography, with scenes set underwater, inside sunken submarines, as well as 10,000 feet in the sky, with Cruise performing yet more death-defying stunts. 

    Series veteran Simon Pegg returned to the franchise for the sixth time in 18 years. He told China.org.cn, about Cruise’s famous stunts: “It’s very nerve-wracking.” He went onto reveal Tom Cruise’s unparalleled preparation and rigorous training ensured every stunt is thoroughly analyzed, with maximum safety precautions in place. However, Pegg noted the inherent unpredictability of such dangerous feats, emphasizing that Cruise’s dedication ultimately stems from his deep commitment to delivering an exceptional experience for audiences.

    An IMAX poster for “Mission: Impossible – The Final Reckoning.” According to IMAX, the movie features “over 45 minutes of IMAX’s exclusive 1.90:1 expanded aspect ratio.” [Image courtesy of IMAX China]

    Pegg also revealed Cruise’s stunts create a hushed, nervous set. Filming the cliff jump in “Dead Reckoning,” plane stunt in “Rogue Nation,” skydives in “Fallout,” or Burj Khalifa climb in “Ghost Protocol,” set the tone. He explained on those days, “we’re always just crossing our fingers and hoping that it all goes okay, because it’s a human life. Let alone the fact that it’s Tom Cruise.”

    Director Christopher McQuarrie added, “I’ve been working with Tom now for 18 years. On every film, people ask, ‘Aren’t you scared?’ And Tom always answers the same way. He says, ‘I don’t mind being scared. It’s not that I’m not scared. I just don’t mind.’ And I didn’t understand that. But now I know that it’s not that you are oblivious. You can’t be, because if you factor out the fear entirely, if you don’t maintain an awareness of your own mortality, the scale tips too far the other way.”

    He credits Cruise’s seismic genre impact to his unique filmmaking roots. Drawing from film pioneers like Douglas Fairbanks, Charlie Chaplin, and Buster Keaton, “Mission: Impossible” has continued to blend multiple genres into each film.

    “When you work with Tom Cruise, you understand very quickly that your capabilities are far greater than you thought,” the director said. “When you work with Tom, people suggest the most absurd things. It doesn’t matter what they are because it’s not a matter of whether or not they can be done. For Tom, nothing is impossible. It’s just, ‘Logistically, what will it take? And how much will it hurt?’ ‘Mission: Impossible’ really is the most ironically named franchise.”

    As “The Final Reckoning” finally hit screens across China on May 30, Pegg grew nostalgic after five years of making two “Mission: Impossible” films back-to-back. “It’s been a very, very important part of my life,” he said, seeing his role Benji as just a regular guy who’s found himself in extraordinary circumstances.

    Interestingly, Pegg also voiced The Entity in the film. He further explained how shedding Benji’s warm persona to create a cold, automated, somewhat clinical AI voice was a challenge, yet something he found enjoyable. He also discussed AI’s rapid evolution, noting how The Entity’s theme of potential human obsolescence resonates with current social and technological anxieties.

    A life-size biplane installation is displayed at Taikoo Li Sanlitun, a trendy shopping area in Beijing, to commemorate the premiere of “Mission: Impossible – The Final Reckoning,” May 26, 2025. [Photo courtesy of Paramount Pictures]

    After its Beijing premiere on Monday, audiences praised the film’s epic scale, relentless pacing, dazzling action sequences, and Tom Cruise’s life-risking dedication. As one of the most expensive films ever made, it scored the franchise’s largest opening weekend, grossing $227 million worldwide by May 28. On Rotten Tomatoes, 80% of 355 critics’ reviews were positive.

    “Tom and McQ have always been very clear on this: for ‘Mission: Impossible’ to evolve, it always needs to feel like it’s on an upward curve. It must get bigger and more moving every time,” said Pegg. “That is always the mantra: we must outdo ourselves. This time, we really have.”

    MIL OSI China News –

  • MIL-OSI China: Di Maria to return to boyhood club Rosario Central

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

    Argentina’s FIFA World Cup winner Angel Di Maria has reached an agreement to return to his boyhood team Rosario Central, the club announced on Thursday.

    The 37-year-old will rejoin the Argentine Primera Division side on a free transfer after his contract with Portuguese outfit Benfica expires in July.

    Angel di Maria (R) of Argentina vies with Matty Cash of Poland during their Group C match at the 2022 FIFA World Cup at Stadium 974 in Doha, Qatar, Nov. 30, 2022. (Xinhua/Cao Can)

    “Our history together has more pages to write. Welcome home,” read a statement issued by the club on social media.

    Di Maria began his professional career with Rosario Central in 2005 before signing with Benfica two years later. He had subsequent spells at Real Madrid, Manchester United, Paris Saint-Germain and Juventus before returning to Benfica in 2023.

    The winger ended his Argentina career last year with 145 caps, having won the 2022 World Cup and two Copa America titles.

    He will start his new spell with Rosario Central following the FIFA Club World Cup in the United States. Benfica will begin its campaign against Boca Juniors on June 16 before also facing Auckland City and Bayern Munich in the group stage. 

    MIL OSI China News –

  • Saudi warned Iran to reach nuclear deal with Trump or risk Israeli strike

    Source: Government of India

    Source: Government of India (4)

    Saudi Arabia’s defence minister delivered a blunt message to Iranian officials in Tehran last month: take President Donald Trump’s offer to negotiate a nuclear agreement seriously because it presents a way to avoid the risk of war with Israel.

    Alarmed at the prospect of further instability in the region, Saudi Arabia’s 89-year-old King Salman bin Abdulaziz dispatched his son, Prince Khalid bin Salman, with the warning destined for Iran’s Supreme Leader Ayatollah Ali Khamenei, according to two Gulf sources close to government circles and two Iranian officials.

    Present at the closed-door meeting in Tehran, which took place on April 17 in the presidential compound, were Iranian President Masoud Pezeshkian, armed forces Chief of Staff Mohammad Bagheri and Foreign Minister Abbas Araqchi, the sources said.

    While media covered the 37-year-old prince’s visit, the content of the King Salman’s covert message has not been previously reported.

    Prince Khalid, who was Saudi ambassador to Washington during Trump’s first term, warned Iranian officials that the U.S. leader has little patience for drawn-out negotiations, according to the four sources.

    Trump had unexpectedly announced just over a week earlier that direct talks were taking place with Tehran, aimed at curbing Iran’s nuclear programme in return for sanctions relief. He did so in the presence of Israeli Prime Minister Benjamin Netanyahu, who had travelled to Washington hoping instead to win support for attacks on Iranian nuclear sites.

    In Tehran, Prince Khalid told the group of senior Iranian officials that Trump’s team would want to reach a deal quickly, and the window for diplomacy would close fast, according to the four sources.

    The Saudi minister said it would be better to reach a deal with the U.S. than face the possibility of an Israeli attack if the talks broke down, according to the two Gulf sources.

    He argued that the region – already riven by recent conflicts in Gaza and Lebanon – could not withstand a further escalation in tensions, said the two Gulf sources and one senior foreign diplomat familiar with the discussions.

    Authorities in Saudi Arabia and Iran did not respond to requests for comment.

    The visit by Prince Khalid – the younger brother of Crown Prince Mohamed Bin Salman – was the first by a senior member of the Saudi royal family to Iran in more than two decades. Riyadh and Tehran had long been bitter rivals, often backing opposing sides in proxy wars, until a rapprochement brokered by China in 2023 helped to ease the tensions and restored diplomatic ties.

    Over the past two years, Iran’s regional position has been undermined by heavy military blows inflicted by Israel on its allies Hamas in Gaza and Hezbollah in Lebanon, and toppling of its close ally, Syrian dictator Bashar al-Assad. Western sanctions, meanwhile, have hit its oil-dependent economy hard.

    Mohanad Hage Ali, an expert on Iran at the Carnegie Middle East Center think tank in Beirut, said that Tehran’s weakness had offered Saudi Arabia the opportunity to exert its diplomatic influence, seeking to avoid a regional conflagration.

    “They want to avoid war because war and confrontation with Iran will have negative implications on them and their economic vision and ambitions,” he told Reuters.

    IRAN WANTS A DEAL

    Reuters was unable to determine the impact of the prince’s message on Iran’s leadership.

    In the meeting, Pezeshkian responded that Iran wanted a deal to ease economic pressure through the lifting of Western sanctions, the four sources said.

    However, the Iranian officials, the sources added, expressed concerns over the Trump administration’s “unpredictable” approach to negotiations — which have veered from allowing limited uranium enrichment to demanding the complete dismantling of Tehran’s enrichment program.

    Trump also has threatened to use military force if diplomacy fails to rein in the clerical establishment’s nuclear ambitions.

    One of the Iranian sources said that Pezeshkian emphasized Tehran’s eagerness to reach a deal but that Iran was not willing to sacrifice its enrichment program just because Trump wanted an agreement.

    The ongoing talks between Washington and Tehran have already been through five rounds to resolve the decades-long nuclear dispute, but multiple stumbling blocks remain, including the key issue of enrichment.

    Reuters reported on Wednesday that Iran might pause uranium enrichment if the U.S. releases its frozen funds and recognises its right to refine uranium for civilian use under a “political deal” that could lead to a broader nuclear accord, according to two Iranian sources familiar with the talks. The semi-official Fars news agency in Iran quoted a foreign ministry spokesman denying the report.

    The White House did not directly address Reuters’ questions about whether it was aware of the Saudi warning to Iran.

    “President Trump has made it clear: make a deal, or face grave consequences, and the whole world is clearly taking him seriously, as they should,” White House press secretary Karoline Leavitt said in a statement.

    Trump said on Wednesday he warned Netanyahu last week not to take any actions that could disrupt nuclear talks with Iran, and said the two sides were “very close to a solution now”.

    Israeli authorities did not respond to a request for comment.

    HIGH STAKES

    A four-day visit by Trump to the Gulf this month annointed Saudi Arabia as the most prominent member of a new axis of Sunni states in the Middle East, filling the void left by Iran’s shattered alliance. During the trip, Saudi Crown Prince Mohamed Bin Salman mediated a reconciliation between Trump and Syria’s new Sunni leader, Ahmed al-Sharaa.

    Tehran’s regional sway, meanwhile, has been diminished by military setbacks suffered by Iran and its allies in the Shi’ite-dominated Axis of Resistance, which include Hamas, Hezbollah, the Houthis in Yemen, and Iraqi militias

    In the meeting, Prince Khalid urged Iran to rethink its regional policy, noting such a shift would be welcomed, especially by Riyadh, the sources said.

    Although he stopped short of directly blaming Iran, the Saudi minister voiced concern over a possible repeat of the 2019 drone attacks on the facilities of state oil company Aramco – attacks the kingdom attributed to Iran and its Houthi allies, despite Tehran’s denial.

    Iranian officials maintained that while Tehran holds some influence over the Houthis, it does not fully control their actions, the Iranian sources said.

    Decades of hostility between the Shi’ite Iran and Saudi Arabia destabilised the Gulf and fuelled regional conflicts from Yemen to Syria. The 2023 detente was driven in part by Saudi Crown Prince Mohammed’s economic ambitions and desire for stability, and has led to increased contacts between the governments.

    However, neither Saudi Arabia nor other regional powers see Iran as a dependable partner for peace and they fear its actions could jeopardize their ambitions for economic development, diplomats and regional experts say.

    Prince Khalid implored the Iranians to avoid actions by them and their allies that might provoke Washington, stressing that Trump’s response would likely be more strident than his predecessors, presidents Joe Biden and Barak Obama.

    In turn, he assured Tehran that Riyadh would not let its territory or airspace to be used by the United States or Israel for any potential military action against Iran, the sources said.

    (Reuters)

  • MIL-OSI Russia: Mutually beneficial trade, economic and investment cooperation between Uzbekistan and China is developing dynamically — Minister-Counselor of the Embassy

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    BEIJING, May 30 /Xinhua/ — “China remains the main trade and investment partner of Uzbekistan,” said Minister-Counselor of the Embassy of Uzbekistan in China Saidkamol Agzamkhodjaev, adding that mutually beneficial trade, economic and investment cooperation between the two countries is developing dynamically.

    S. Agzamkhodjaev made this statement on Wednesday in Beijing at the presentation of the Strategy “Uzbekistan-2030”, organized jointly by the Embassy of Uzbekistan in China and the Institute of Russia, Eastern Europe and Central Asia of the Chinese Academy of Social Sciences (CAS).

    According to him, China is the leading investor in the economy of Uzbekistan. Over the past few years, the volume of Chinese investments has increased fivefold, and the total portfolio of joint projects has reached $53 billion. In 2024 alone, more than $10 billion of Chinese investments were utilized in Uzbekistan, and over $3 billion in the first months of 2025.

    He added that there are more than 3.7 thousand enterprises with Chinese capital operating in Uzbekistan, of which more than 300 were created over the past year.

    China’s experience in public administration, conducting targeted reforms in all areas of society, and ensuring sustainable development deserves special attention, said S. Agzamkhodjaev.

    Let us recall that the Strategy “Uzbekistan-2030” was developed with the aim of ensuring sustainable and inclusive development of the country and defines the long-term direction of development of Uzbekistan.

    The strategy envisages achieving such goals as reforms in various areas, economic growth, improvement of education, healthcare and social protection systems, ensuring environmental sustainability and modernization of public administration.

    MIL OSI Russia News –

  • MIL-OSI Russia: Helan: Duanwu Festival Traditions Blend Harmoniously into Children’s Day

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    On May 28, Yinguang Primary School in Jingui Town, Helan County, Ningxia Hui Autonomous Region held a series of activities themed “Loving the Duanwu Festival, Sharing Zongzi on June 1st”. The traditional customs of the Duanwu Festival were seamlessly combined with Children’s Day through artistic performances, introduction to intangible cultural heritage, and folk games, immersing children in a joyful atmosphere.

    On May 28, Yinguang Primary School in Jingui Town, Helan County, Ningxia Hui Autonomous Region held a series of activities themed “Loving the Duanwu Festival, Sharing Zongzi on June 1st”. The traditional customs of the Duanwu Festival were seamlessly combined with Children’s Day through artistic performances, introduction to intangible cultural heritage, and folk games, immersing children in a joyful atmosphere.

    MIL OSI Russia News –

  • MIL-OSI Russia: 14 Films to Hit Screens During Duanwu Festival and Children’s Day

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    Still from the film “Mission: Impossible – Final Death”

    According to statistics, 14 films including “Private Detective”, “Mission: Impossible – Final Payback” and “Children of Time” will be released in China during the Duanwu Festival and Children’s Day holidays, of which 13 are new releases and one is a rerun. The films cover different genres: action adventure, thriller detective, fantasy adventure and animation about family values. In line with the atmosphere of Duanwu Festival and Children’s Day, they may create a slight boost in movie theater attendance.

    Still from the film “Children of Time”

    MIL OSI Russia News –

  • MIL-OSI Russia: The 2025 Central Asia-China Media Forum was held in Astana

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    ASTANA, May 30 (Xinhua) — The 2025 Central Asia-China Media Forum was held in Astana, capital of Kazakhstan, on Thursday. The theme of the event is “Together along the Silk Road, Media as the Connecting Thread. Let’s Build a Closer Community with a Shared Future for China and Central Asia.”

    President of Kazakhstan Kassym-Jomart Tokayev sent a letter of greetings to the forum. He noted that the Belt and Road initiative put forward by Chinese President Xi Jinping is of particular importance and has been widely recognized by the international community as a platform for global cooperation. According to the head of state, Kazakhstan attaches great importance to the development of a comprehensive strategic partnership on a permanent basis with China, and the Central Asia-China Media Forum is an important platform for strengthening mutual understanding, trust and partnership in the media sphere. K.-J. Tokayev wished the forum productive work and constructive discussions for the benefit of all countries and peoples.

    The participants of the event noted that media exchanges are an important part of China’s relations with the Central Asian countries. The media of China and the Central Asian countries should be sensitive to the trends of the times, find new formats of cooperation, jointly tell stories of friendly interaction, thereby contributing wisdom and strength to building a closer community with a common destiny for China and Central Asia, they emphasized.

    The forum was jointly organized by the People’s Daily newspaper and the Television and Radio Complex of the President of the Republic of Kazakhstan. The event was attended by more than 200 representatives of leading media, experts, scientists and business representatives from China and Central Asian countries. The forum also included the opening ceremony of a photo exhibition and the launch of the Central Asian and Chinese Media Press Tour on High-Quality Joint Construction of the Belt and Road. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: China, Japan Make Significant Progress on Safety of Japanese Marine Products

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    BEIJING, May 30 (Xinhua) — China and Japan held a new round of technical talks on the safety of Japanese aquatic products in Beijing on Wednesday and made “substantial progress,” the General Administration of Customs said Friday.

    According to the department, these negotiations were initiated at the request of Japan. Since the beginning of this year, the parties have already held several rounds of technical exchanges in this area. -0-

    MIL OSI Russia News –

  • MIL-OSI China: Tianmen grand bridge under construction in China’s Guizhou

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

    Tianmen grand bridge under construction in China’s Guizhou

    Updated: May 30, 2025 14:38 Xinhua
    This aerial drone photo taken on May 28, 2025 shows the Tianmen grand bridge under construction in southwest China’s Guizhou Province. The 1,553-meter-long grand bridge is a major project on the expressway linking Anshun and Panzhou in Guizhou. The bridge deck, 560 meters above water surface in the valley beneath it, will allow vehicles to run at 100 kilometers per hour when completed. [Photo/Xinhua]
    This aerial drone photo taken on May 28, 2025 shows workers at the construction site of the Tianmen grand bridge in southwest China’s Guizhou Province. [Photo/Xinhua]
    This aerial drone photo taken on May 28, 2025 shows the Tianmen grand bridge under construction in southwest China’s Guizhou Province. [Photo/Xinhua]
    This aerial drone photo taken on May 28, 2025 shows the Tianmen grand bridge under construction in southwest China’s Guizhou Province. [Photo/Xinhua]
    This aerial drone photo taken on May 28, 2025 shows the Tianmen grand bridge under construction in southwest China’s Guizhou Province. [Photo/Xinhua]
    This aerial drone photo taken on May 28, 2025 shows the Tianmen grand bridge under construction in southwest China’s Guizhou Province. [Photo/Xinhua]
    This aerial drone photo taken on May 28, 2025 shows the Tianmen grand bridge under construction in southwest China’s Guizhou Province. [Photo/Xinhua]
    This aerial drone photo taken on May 28, 2025 shows the Tianmen grand bridge under construction in southwest China’s Guizhou Province. [Photo/Xinhua]
    This aerial drone photo taken on May 28, 2025 shows the Tianmen grand bridge under construction in southwest China’s Guizhou Province. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI: ZETADISPLAY AB (publ) INTERIM REPORT 1 JANUARY – 31 MARCH 2025

    Source: GlobeNewswire (MIL-OSI)

    Q1 Interim report JANUARY – MARCH 2025 for ZetaDisplay AB (publ) is now available at ir.zetadisplay.com

    Report summary:

    Continued Growth and Strategic Wins Position ZetaDisplay for the Future

    JANUARY – MARCH 2025

    • Adjusted recurring revenue* increased by 9.9% to 65.4 (59.5) million
    • Recurring revenue increased by 7.4% to 65.4 (60.9) million
    • Adjusted net sales* increased by 26.8% to SEK 159.6 (125.9) million
    • Net sales increased by 25.5% to SEK 159.6 (127.2) million
    • Gross margin decreased to 56.4% (59.9 %)
    • Adjusted gross margin* decreased to 56.4% (59.5%)
    • Adjusted EBITDA* increased to SEK 22.0 (11.5) million
    1.  * Recurring revenue for the first quarter of 2024 has been reduced by SEK 1.3 million to reflect the restructuring of our German operations, during which certain non-core activities were identified for discontinuation.

    CEO comment

    CONTINUED GROWTH AND STRENGTHENED MARKET POSITION

    Adjusted net sales for the quarter increased by 26.8% to SEK 159.6 (125.9) million, primarily driven by strategic acquisitions that significantly strengthened our market presence in Europe, and further supported by 7% organic growth, notably from our global accounts. Adjusted recurring revenue grew by 9.9% to SEK 65.4 (59.5) million, representing 41.0% of net sales. Adjusted EBITDA for the first quarter rose to SEK 22.0 (11.5) million, reflecting our ability to scale efficiently while maintaining sound cost control.

    We are honored to have been named “Outstanding Company of the Year” at the 2025 Digital Signage Awards, with Engage Suite receiving recognition for its industry innovation and impact. These honors underscore our commitment to delivering cutting-edge solutions that drive customer engagement and innovation excellence. 

    During the quarter, we successfully completed our bond refinancing on favorable terms, reflecting the strong confidence our financial partners have in our strategic direction and financial health. We announced a significant new contract with Ruter, Oslo’s public transport authority. This five-year agreement involves modernizing digital signage across 370 transit locations, enhancing real-time passenger information and overall commuter experience, and increases our market position in the public sector.

    In Germany, we are making good progress in transforming our local company to embrace Zetadisplay’s Full-Service-Provider business model and are now offering our comprehensive digital signage solutions both to existing and new customers. In the UK, we have appointed a new Managing Director and are focusing on leveraging our Engage Suite platform, both by migrating key UK customers and by strengthening our value proposition to more proactively attract new customers.

    OUTLOOK

    We are encouraged by the continued evolution we see in areas such as hardware, analytics, AI, retail media and security, as well as by the positive market receptiveness to our offering. Our Full-Service-Provider business model, including our award-winning Engage Suite platform and a strong local market presence, positions us well to support our organic growth ambitions.

    The successful integration of Beyond Digital Solutions in the UK and our transformation into a Full-Service Provider across all markets, including Germany, enhance our capability to deliver comprehensive, international value-driven services.

    Looking ahead, we remain focused on driving long-term value through innovation, operational excellence, and deeper customer engagement to accelerate profitable growth. At the same time, we remain diligent in our cost and investment priorities with measures to navigate any unexpected effects from ongoing external market influences.

    I extend my sincere gratitude to all our employees for their dedication and to our customers for their continued trust in ZetaDisplay.

    Malmö, 30 May 2025

    This information is information that ZetaDisplay AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of Anders Olin, at 08:00 CET on 30 May 2025

    – Full Q1 report attached and available at https://ir.zetadisplay.com/financial-reports –

    For further questions, please contact:

    Anders Olin, President & CEO
    Mobile: +46 076-101 14 88
    E-Mail: anders.olin@zetadisplay.com

    Claes Pedersen, CFO
    Mobile: +45 23-68 86 58
    E-Mail: claes.pedersen@zetadisplay.com

    ABOUT ZETADISPLAY
    More than 20 years of leadership and innovation in digital signage.
    ZetaDisplay was founded 2003 in Sweden as one of the early pioneers of digital signage. We are one of the leading European corporations in the digital signage market and a leading force in the European digital signage industry. Our proprietary software platform, digital business development and consulting services, innovative digital signage solutions, and creative concepts regularly inspire- influence and guide millions of people every day in retail environments, in restaurants, on advertising screens, in factories, on trains, on cruise ships, in stadiums, in workplaces and in all types of public spaces indoor and outdoor. ZetaDisplay is one of the largest leading European digital signage companies with direct operations in eight European countries and the US with +125,000 active installations in over 50 countries, across all major continents where we are the business partner of choice for many of the worlds most respected blue-chip brands and companies.

    ZetaDisplay is based in Malmö-Sweden, has a turnover of SEK +600 million and employs approx. 250 co-workers. ZetaDisplay is owned by the investment company Hanover Investors. More information at www.ir.zetadisplay.com and www.hanoverinvestors.com.

    Attachment

    The MIL Network –

  • MIL-OSI China: Museum exhibition showcases novel landscape sculptures

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

    The National Art Museum of China in Beijing is currently hosting an exhibition of unique landscape sculptures by Zhang Xinyu until June 17. 

    Having graduated from the China Academy of Art, Zhang Xinyu is now dean of the Institute of Art Innovation and Design at Zhejiang University of Technology. As an acclaimed artist, he has established a unique approach to creating sculptures and public art works. His work conveys the aesthetics of traditional landscape paintings through the techniques of modern formative arts, bringing out a sense of dynamism and a poetic quality with smooth, flowing lines. 

    A metal sculpture (2024) depicting landscape views by Zhang Xinyu on display at the National Art Museum of China in Beijing, May 28, 2025. [Photo by Liu Sitong/China.org.cn]

    1   2   3   4   5   6   7   8   9   10   11   >  

    MIL OSI China News –

  • MIL-OSI China: Sinner sends Gasquet into retirement, Djokovic marches on

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

    World No. 1 Jannik Sinner advanced with a commanding straight-sets victory over French veteran Richard Gasquet, bringing an emotional close to the 38-year-old’s career, while Novak Djokovic progressed smoothly in his pursuit of a record 25th Grand Slam title at the French Open on Thursday.

    The day held special significance for Gasquet, who was making his 22nd and final appearance at Roland Garros, as he had announced he would retire after the tournament. Facing the formidable Sinner, Gasquet battled valiantly but was ultimately overcome 6-3, 6-0, 6-4, ending his run in the second round.

    “Thank you for being very fair with me today, I know what was at stake. It’s your [Gasquet’s] moment. Congrats on an amazing career,” Sinner said post-match.

    Novak Djokovic of Serbia hits a return during the men’s singles second round match against Corentin Moutet of France at French Open tennis tournament 2025 in Paris, France, May 29, 2025. (Xinhua/Gao Jing)

    Djokovic also booked his spot in the last-32 with a straight-sets win over Frenchman Corentin Moutet, triumphing 6-3, 6-2, 7-6 (1).

    Although the 38-year-old Serbian required a medical timeout for a blister on his foot during the match, he displayed characteristic composure and stability. Djokovic will next play Austrian qualifier Filip Misolic.

    “I came to Roland Garros with more confidence, good feelings. Hopefully I can continue like that,” he said.

    Women’s second seed Coco Gauff of the United States delivered a solid performance to beat last year’s junior champion Tereza Valentova 6-2, 6-4.

    Russian prodigy Mirra Andreeva, who made a remarkable run to the semifinals here last year, continued her good form. Having already captured two WTA 1000 titles earlier this season in Dubai and Indian Wells, the 18-year-old defeated American Ashlyn Krueger 6-3, 6-4.

    Elsewhere, reigning Wimbledon champion Barbora Krejcikova suffered an early exit, falling 6-0, 6-3 to Russia’s Veronika Kudermetova. 

    MIL OSI China News –

  • MIL-OSI Russia: Uzbekistan is ready to strengthen cooperation in tourism with China

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    Beijing, May 30 /Xinhua/ — Uzbekistan attaches particular importance to strengthening cooperation with China in the field of tourism, said Minister-Counselor of the Embassy of Uzbekistan in China Saidkamol Agzamkhodjaev.

    S. Agzamkhodjaev made this statement on Wednesday in Beijing at the presentation of the Strategy “Uzbekistan-2030”, organized jointly by the Embassy of Uzbekistan in China and the Institute of Russia, Eastern Europe and Central Asia of the Chinese Academy of Social Sciences (CAS).

    In December 2024, Uzbekistan and China signed an agreement on a visa-free regime, and the “Year of Tourism of Uzbekistan in China” began.

    “As part of the Year of Tourism of Uzbekistan in China, forums and presentations of the tourism potential of Uzbekistan are being held in various cities of the PRC,” said S. Agzamkhodjaev.

    On June 1, 2025, the Agreement between the Government of the People’s Republic of China and the Government of the Republic of Uzbekistan on mutual exemption from visa requirements will come into force.

    According to the document, citizens of both countries are exempt from visa requirements when entering, leaving or transiting through the territories of the two countries for a period of no more than 30 days for each individual stay and for a total period of no more than 90 days within any 180-day period.

    “Undoubtedly, this will contribute to the development of the tourism sector and increase the tourist flow,” noted S. Agzamkhodjaev, adding that Uzbekistan intends to increase the number of Chinese tourists visiting Uzbekistan annually to one million people.

    Currently, China and Uzbekistan airlines operate 58 flights per week on routes linking nine cities in the two countries, including Beijing, Urumqi, Xi’an, Chengdu, Hangzhou, Tashkent, Samarkand and Fergana. -0-

    MIL OSI Russia News –

  • Nepal’s royalists demand restoration of monarchy dumped 17 years ago

    Source: Government of India

    Source: Government of India (4)

    Thousands of supporters of Nepal’s former king rallied in the capital Kathmandu on Thursday, calling for the restoration of the constitutional monarchy that was abolished 17 years ago, amid rising unhappiness with successive elected governments.

    Flag-waving protesters marched into the city centre from different directions shouting: “Our king is dearer than lives … king come back and save the country,” as riot police stood guard but did not intervene.

    At a similar rally in March, two people were killed and several injured.

    The 239-year-old monarchy was voted out in 2008 following weeks of bloody street protests. The last king of the Himalayan nation, 77-year-old Gyanendra, has lived with his family in a private house in Kathmandu as a commoner since being toppled.

    He has not commented on Thursday’s demonstration but expressed sorrow at the violence that killed two people in March.

    Demonstrators are also calling for the country of 30 million people, wedged between China and India, to become a Hindu state again, a status it lost with the monarchy.

    “Governments formed in the last 17 years have failed to deliver on their promises of development, creation of jobs and improvement of the living conditions of people,” said 35-year-old street vendor Rajendra Tamang.

    “Thousands of young people are forced to leave the country in search of work as they see no hope here,” he said.

    Millions of young Nepalis are working in the Middle East, South Korea and Malaysia, mainly at construction sites, and the money they send home is a key source of income for Nepal.

    Supporters of the government staged a separate but smaller rally nearby in support of the republican system that replaced the monarchy.

    The three major political parties that jointly control nearly 200 of the 275 seats in parliament say the monarchy was consigned to history and cannot be restored.

    All three jointly campaigned against the monarchy and voted it out in 2008 and say their faith in the republican system was unshakeable.

    The Rastriya Prajatantra Party, which is campaigning for the monarchy, holds only 13 seats in parliament.

    A two-thirds majority or 184 lawmakers is needed to change the constitution, which was adopted in 2015, turning Nepal into a federal democratic republic.

    The royalists say their protests will continue until the monarchy is restored.

    (Reuters)

  • MIL-OSI Asia-Pac: Mediation body established in HK

    Source: Hong Kong Information Services

    Chief Executive John Lee

    I am delighted to join you on this historic occasion: to celebrate with you the signing of the Convention on the Establishment of the International Organization for Mediation (IOMed).

    Gathered here today, in the Hong Kong Special Administrative Region of the People’s Republic of China, are high-level representatives of over 80 countries from Asia, Africa, Latin America and Europe; and from the United Nations and about 20 international organisations. A very warm welcome to Hong Kong!

    It is a privilege for us to host this signing ceremony, and to serve as the IOMed headquarters, once the convention enters into force.

    This singular occasion is made possible by the ongoing and dedicated efforts of China, our country, in working with around 20 states, since late 2022, to establish an intergovernmental organisation devoted to mediation. After five rounds of intensive negotiation since 2023, co-ordinated by the IOMed Preparatory Office, the negotiating states concluded the very convention signed today.

    The IOMed will become the world’s first intergovernmental international legal organisation dedicated to resolving international disputes through mediation. It also reflects our shared confidence in mediation as a peaceful means to maintain international peace and security, as stipulated in the Charter of the United Nations.

    The IOMed will provide a pathway for countries – regardless of culture, language and legal system – to resolve international disputes based on mutual respect and understanding. This is increasingly important amid mounting geopolitical tensions. When protectionism threatens to derail the international trade order, and when unilateralism looms over global supply chains, it is dialogue – not division – that restores balance.

    China has long championed equity and unity. The Chinese virtue of “和而不同”, meaning “harmony in diversity”, is deeply rooted in our community and culture. This value of mutual respect in spite of differences also sits at the heart of mediation, the IOMed, and a world that seeks co-operation over conflict.

    Despite geopolitical turbulence, Hong Kong builds bridges, not walls. Under our unique “one country, two systems” principle, Hong Kong is the only world city that enjoys both the China advantage and the global advantage. With the support of the National 14th Five-Year Plan, Hong Kong has risen as an international legal and dispute resolution services centre in the Asia-Pacific region.

    We are the only common law jurisdiction in China, and the only jurisdiction in the world with a bilingual common law system in both Chinese and English. We have a long tradition of the rule of law, and our courts exercise their judicial power independently. Hong Kong’s Court of Final Appeal, which is vested with the power of final adjudication, has on its bench eminent jurists from both Hong Kong and overseas common law jurisdictions.

    Our robust, efficient and well-respected legal system is supported by world-class legal and dispute resolution professionals. Often bilingual or even multilingual, they are well-versed in international rules and practices, and help to position Hong Kong as a preferred venue for dispute resolution.

    In this year’s International Arbitration Survey, Hong Kong is the most preferred seat of arbitration in the Asia-Pacific region, and shares second place globally with another jurisdiction. Our economy also came first in business legislation and international trade in the World Competitiveness Yearbook. In the latest Business Ready Report published by the World Bank Group, Hong Kong ranks eighth in dispute resolution among the 50 economies covered.

    All this underscores Hong Kong’s effectiveness as a super connector and super value-adder among many economies. We contribute to cross-border investment and economic activity through our top-notch professional services. Our “one country, two systems” advantages make us well-placed to be the headquarters of the important institution of the IOMed.

    The Hong Kong Special Administrative Region Government is devoted to supporting the IOMed’s provision of friendly, flexible, economical and efficient mediation services. We actively promote a vibrant culture of mediation. In fact, it is a general policy to incorporate a mediation clause in all government contracts. We are also enhancing the system on local accreditation and disciplinary matters of the mediation profession.

    And we go all out to build bridges with the world. Hong Kong will actively promote the IOMed’s valuable work in settling international disputes through mediation, and advocate mediation as a global tool for peace and justice across borders.

    Ladies and gentlemen, the establishment of the IOMed’s headquarters in Hong Kong is a great honour for our city. The headquarters, as you may know, will be based in the building that once housed the Wan Chai Police Station, just a stone’s throw away from here. Built in 1932, this iconic building has a long association with law and order in Hong Kong. From its prime downtown location, it has also witnessed the transformation of our city that has long treasured unity. In its new role as the IOMed headquarters, the building will play a vital part in the future of Hong Kong as a centre for international legal and dispute resolution services.

    We are working to complete the conversion of the building for its new mission. I am happy to say that it could open its doors as early as the end of this year. We look forward not only to welcoming its new occupants, but also to supporting them in building new bridges for a more connected, peaceful and prosperous future through mediation.

    I would like to express my sincere gratitude to the central government for its staunch support of Hong Kong, allowing Hong Kong the honour of housing the IOMed headquarters here. My sincere gratitude also goes to the international community, for placing your trust and confidence in our city. Let’s renew our commitment to peace, justice and the rule of law. Let’s cultivate a mediation culture together. Let’s build a strong IOMed for a global community of shared future founded on peace and prosperity. Please enjoy the day and enjoy Hong Kong. Thank you.

    Chief Executive John Lee gave this speech at the Signing Ceremony of the Convention on the Establishment of the International Organization for Mediation on May 30.

    MIL OSI Asia Pacific News –

  • Indian stock market opens flat amid stable institutional investments

    Source: Government of India

    Source: Government of India (4)

    Indian benchmark indices opened on a flat note on Friday, tracking weak cues from Asian markets and early pressure in IT and auto stocks. Analysts suggest the market is likely to remain in a consolidation phase in the near term due to the absence of strong positive triggers.

    At 9:29 a.m., the Sensex was marginally up by 11.77 points at 81,644.79, while the Nifty gained 13.20 points to trade at 24,846.80.

    The Nifty Bank index rose by 81.20 points (0.15%) to 55,627.25, and the Nifty Midcap 100 climbed 0.44% to 57,707.65. The Nifty Smallcap 100 also edged higher by 0.21% to 17,927.15.

    Despite subdued trade in early hours, analysts noted a positive technical signal from Thursday’s session, where the Nifty staged a smart rebound towards the end. Akshay Chinchalkar, Head of Research at Axis Securities, said, “Yesterday’s recovery showed a bullish lower shadow and small real body close to the day’s high, suggesting potential upward momentum.” He identified 24,677 and 25,000 as immediate support and resistance levels, respectively.

    In the Sensex pack, top losers included Infosys, Tech Mahindra, HCL Tech, Bajaj Finance, IndusInd Bank, Bharti Airtel, Titan, and Hindustan Unilever. On the gaining side were Adani Ports, Eicher Motors, Maruti Suzuki, and Sun Pharma.

    Weakness persisted across Asian markets, with indices in Hong Kong, Bangkok, Seoul, China, and Japan trading in the red.

    Meanwhile, US markets closed higher in the previous session. The Dow Jones added 117.03 points to settle at 42,215.73, the S&P 500 rose by 23.62 points to 5,912.17, and the Nasdaq gained 74.93 points to close at 19,175.87.

    Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted a key reason for the market’s range-bound nature. “India’s macroeconomic fundamentals are strong and improving, but this is not yet being reflected in corporate earnings,” he said.

    On the institutional front, FIIs were net buyers, purchasing equities worth ₹884.03 crore on May 29. DIIs were also strong buyers, investing ₹4,286.50 crore.

    -IANS

  • Trump aims to exceed first term’s weapons sales to Taiwan, officials say

    Source: Government of India

    Source: Government of India (4)

    The United States plans to ramp up weapons sales to Taipei to a level exceeding President Donald Trump’s first term as part of an effort to deter China as it intensifies military pressure on the democratic island, according to two U.S. officials.

    If U.S. arms sales to Taiwan do accelerate, it could ease worries about the extent of Trump’s commitment to the island. It would also add new friction to the tense U.S.-China relationship.

    The U.S. officials, who spoke on condition of anonymity, said they expect U.S. approvals for weapons sales to Taipei over the next four years to surpass those in Trump’s first term, with one of the officials saying arms sales notifications to Taiwan could “easily exceed” that earlier period.

    They also said the United States is pressing members of Taiwan’s opposition parties not to oppose the government’s efforts to increase defense spending to 3% of the island’s budget.

    The first Trump administration approved sales of approximately $18.3 billion worth of weapons to Taiwan, compared with around $8.4 billion during Joe Biden’s term, according to Reuters calculations.

    The United States is Taiwan’s most important international backer and arms supplier despite the lack of formal diplomatic ties between Washington and Taipei.

    Even so, many in Taiwan, which China claims as its own, worry that Trump may not be as committed to the island as past U.S. presidents.

    On the election campaign trail, Trump suggested Taiwan should pay to be protected and also accused the island of stealing American semiconductor business, causing alarm in Taipei.

    China has vowed to “reunify” with the separately governed island, by force if necessary. Taiwan’s government rejects Beijing’s sovereignty claims, saying only the island’s people can decide their future.

    The U.S. officials said administration officials and Trump himself were committed to “enhancing hard deterrence” for Taiwan.

    “That’s where the president is. That’s where all of us are,” one U.S. official said, adding that they were working closely with Taiwan on an arms procurement package to be rolled out when Taiwan secured domestic funding.

    Taiwan’s Presidential Office told Reuters the government is determined to strengthen its self-defense capabilities and pointed to its proposals to increase defense spending.

    “Taiwan aims to enhance military deterrence while continuing to deepen its security cooperation with the United States,” Presidential Office spokesperson Wen Lii said.

    Taiwan’s defense ministry declined to comment on any new arms sales, but reiterated previous remarks by the island’s defense minister, Wellington Koo, about the importance of “solidarity and cooperation of democratic allies.”

    -Reuters

  • MIL-OSI Russia: China urges Russia, Ukraine to maintain momentum in peace talks

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    UNITED NATIONS, May 29 (Xinhua) — China’s Deputy Permanent Representative to the United Nations Geng Shuang on Thursday called on Russia and Ukraine to maintain the momentum of peace talks.

    Russia and Ukraine, which recently held direct talks in Istanbul and agreed to exchange prisoners, will soon hold a second round of direct talks. China welcomes these positive developments and supports all efforts to achieve peace, he said.

    At the same time, fighting shows no sign of stopping and the number of civilian casualties continues to rise, showing that the Ukrainian crisis involves complex dynamics and cannot be resolved overnight, he told the Security Council.

    The parties to the conflict must demonstrate political will, maintain the momentum of peace talks, and address the root causes of the crisis through dialogue and consultation so as to eventually achieve a political settlement, Geng Shuang said.

    According to him, the parties to the conflict must faithfully comply with international humanitarian law and, under all circumstances, refrain from attacks on civilians and civilian infrastructure.

    He noted that the international community, especially key stakeholders, should facilitate peace talks to advance a political solution to the crisis.

    China’s position on the Ukrainian issue is consistent and clear. According to him, since the beginning of the crisis, China has called for dialogue, negotiations and a political settlement. China maintains contacts with both Russia and Ukraine and consistently works to promote peace talks.

    China stands ready to play a constructive role in achieving genuine peace together with the Global South and the broader international community, Geng Shuang said. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: UN extends mandate to inspect ships suspected of violating Libya arms embargo

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    UNITED NATIONS, May 29 (Xinhua) — The Security Council on Thursday adopted a resolution extending the authority of U.N. member states to inspect ships suspected of violating the arms embargo on Libya.

    Resolution 2780 extends for six months the authorization for UN Member States, acting nationally or through regional organizations, to inspect vessels on the high seas en route to or from Libya if they have reasonable grounds to believe that those vessels are transporting arms or related material in violation of the arms embargo imposed by the Security Council.

    The UN Secretary-General will submit to the Security Council a report on its implementation within five months of the adoption of this resolution.

    Resolution 2780 was adopted with 13 votes in favor. Russia and China abstained.

    Russian and Chinese officials have questioned the effectiveness of the EU’s Operation IRINI, the only regional exercise to inspect ships under authorization, and the manner in which intercepted items are disposed of.

    The Security Council imposed sanctions, including an arms embargo, on Libya in 2011 following political upheaval that toppled former leader Muammar Gaddafi. In June 2016, the council adopted Resolution 2292, authorizing inspections of vessels on the high seas to enforce the arms embargo. –0–

    MIL OSI Russia News –

  • MIL-OSI New Zealand: McClay to champion NZ’s trade interests at OECD and in Brussels

    Source: New Zealand Government

    Trade and Investment Minister Todd McClay will travel to Europe this weekend to advance New Zealand’s trade and investment interests 

    Minister McClay will visit Switzerland, Paris and Brussels for high level ministerial and business meetings.  

    In Switzerland he will attend the first in person meeting of a new pro-trade group with ministers from UAE, Singapore and Switzerland where he will focus on removing trade barriers and the promotion of paperless trade. 

    In Paris he will attend the annual OECD Trade Ministers, a CPTPP ministers discussion, ACCTs Ministers meeting, and a WTO Mini Ministerial meeting. He will also hold discussions with ministers from Canada, China, India, Indonesia, Saudi Arabia, USA.

    He will also undertake a bilateral French programme and meet the French Minister responsible for Trade.

    In Brussels Mr McClay will hold talks with EU Commissioner for Trade, the Commissioner for Agriculture and Food, and EU Vice President responsible for sustainability.  He will also speak at an event to mark the first year of the NZ EU FTA. 

    “One in four Kiwi jobs depend on Trade, and strong trade relationships mean more opportunities for New Zealander.

    The Government’s is committed to the ambitious goal of doubling exports by value in the next ten years to deliver higher paying jobs for all New Zealanders,” Mr McClay says.

    MIL OSI New Zealand News –

  • MIL-OSI China: NHC vice-minister visits Hong Kong, Macao

    Source: People’s Republic of China Ministry of Health

    Cao Xuetao, vice-minister of the National Health Commission (NHC), led a delegation to the Hong Kong and Macao special administrative regions from May 25 to 28.

    During his stay in Hong Kong, Cao addressed the opening ceremonies of the 2025 Hospital Authority Convention and the Asia Summit on Global Health. In his speeches, he focused on latest developments and priorities for the health sector on the Chinese mainland as well as achievements in participating in global health governance. He said he hoped to deepen practical cooperation between the mainland and Hong Kong in professional fields, and promote scientific and technological innovation and the development of the health industry so as to jointly build a Healthy China and address global health challenges. The delegation also visited the State Key Laboratory of Translational Oncology and the State Key Laboratory of Digestive Disease at the Chinese University of Hong Kong.

    In Macao, Cao met with Sam Hou-fai, chief executive of the Macao Special Administrative Region, and O Lam, secretary for social affairs and culture of Macao. Discussions focused on advancing practical health cooperation projects between the mainland and Macao, supporting the development of Macao’s big health industry and jointly participating in global health governance. Cao also conducted on-site research on the operations of the Macao Medical Center of Peking Union Medical College Hospital, an islands healthcare complex, acknowledging its current achievements and offering suggestions for future development.

    MIL OSI China News –

  • MIL-OSI China: Announcement on Open Market Operations No.102 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.102 [2025]

    (Open Market Operations Office, May 30, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB291.1 billion through quantity bidding at a fixed interest rate on May 30, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB291.1 billion

    RMB291.1 billion

    Date of last update Nov. 29 2018

    2025年05月30日

    MIL OSI China News –

  • MIL-OSI China: F1 live coverage makes IMAX world debut in Chinese theaters

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

    From May 31 to June 1, Shanghai Media Group’s Great Sports television network will screen live coverage of the Formula 1 Aramco Spanish Grand Prix 2025 in select IMAX theaters across China. This marks the first time a global motorsports event will be presented live in IMAX.

    File photo shows a Formula 1 car and an IMAX screen. [Photo/Xinhua, IMAX China]

    According to the announcement on May 28, the Grand Prix will be shown live exclusively at six select Wanda Cinema IMAX locations across China. A standout feature will be the real-time in-theatre commentary delivered by SMG’s Great Sports world-class punditry team. 

    “This history-making event will bring the world’s fastest sport to the world’s most immersive cinematic platform – promising an unforgettable experience for China’s F1 fans,” said Daniel Manwaring, CEO of IMAX China. “As Formula 1 prepares to make its debut in cinemas worldwide with ‘F1: The Movie,’ our partnership with SMG’s Great Sports and Wanda Film will show audiences just how gripping motorsport is live on the big screen and continue to expand what’s possible in IMAX,” he added. 

    Since 2003, SMG’s Great Sports has broadcast every Grand Prix, bringing Formula 1’s drama and excitement to millions of Chinese fans. The network continues to elevate viewing through world-leading technology. They are now partnering with Wanda’s theater network and IMAX China to deliver immersive live experiences where fans witness every hairpin turn and wheel-to-wheel battle in breathtaking IMAX format.

    “This groundbreaking collaboration with Wanda Film and IMAX China marks another major milestone in our long-standing commitment to Formula 1,” said Li Yi, chairman and director of Great Sports. “By bringing our studio directly into a Wanda IMAX theatre, we’re forging a deeper integration between premium sports broadcasting and cinematic exhibition, offering fans a truly new way to experience the thrill of racing, and opening up fresh possibilities for how live sports can be brought to life on the big screen.”

    In recent years, cinemas have innovated through cross-industry content, with IMAX expanding into immersive entertainment beyond films. This showcases both cultural and sporting events. In 2024, more than 150 IMAX theaters in North America screened the Paris Olympics opening ceremony live, while the League of Legends World Championship achieved an average 90% occupancy across 150 IMAX venues in China. The upcoming IMAX live broadcast of Formula 1 Spanish Grand Prix 2025 further diversifies premium cinema offerings, giving motorsports fans new ways to share and celebrate their passion.

    MIL OSI China News –

  • MIL-OSI China: Finding answers in China: How clean energy fuels the comeback of Shennongjia’s golden snub-nosed monkeys?

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

    .    

    Deep in the lush and mysterious forests of Shennongjia, central China’s Hubei province, golden figures leap effortlessly through the treetops—these are the Shennongjia golden snub-nosed monkeys. Once on the brink of extinction, they’ve made a stunning recovery and are now even recognized as a unique subspecies. But what’s the story behind their stunning revitalization? How has China’s energy transition played a key role in protecting their habitat? And can China’s ecological wisdom offer new solutions for the world? 

    To find out, Peruvian host Rebeca Phang from China.org.cn teams up with global energy expert Professor Saifur Rahman for a journey into the heart of Shennongjia.

    MIL OSI China News –

  • MIL-OSI China: California’s ports face economic devastation as tariffs cripple trade with Asia-Pacific

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

    Ships loaded with containers are pictured at the Port of Los Angeles, California, the United States, on April 29, 2025. [Photo/Xinhua]

    California’s ports are experiencing worse conditions than during the COVID-19 pandemic as U.S. President Donald Trump’s reckless trade war with China and other Asia-Pacific economies harmed the state’s economy, triggering widespread job losses and forcing billions of dollars in budget cuts.

    “The vessel calls, or cancellations, that we’re seeing today are starting to exceed the number that we saw in COVID-19,” Mario Cordero, chief executive of the Port of Long Beach, told CalMatters, an independent news agency focusing on California, in an interview published Wednesday.

    The Port of Long Beach alone supported 2,714,707 jobs across the United States, representing one out of every 77 American jobs, according to a comprehensive economic impact analysis completed on May 12 by the Port of Long Beach. In California, the port said it supported 1.1 million jobs, accounting for approximately five percent of the state’s total employment.

    Trade expert Paul Bingham of S&P Global Market Intelligence confirmed the unprecedented nature of the crisis during another recent interview with Cordero.

    “There’s nothing like this that any of us that are still active in our careers have seen before,” Bingham said. “From an economics perspective, we’d have to go back over 90 years to the 1930s to find tariff levels for the United States on a trade-weighted basis close to what they are right now.”

    The Golden State, the strongest state in the field of economy in the country, faced a 12-billion-U.S.-dollar budget deficit, with Governor Gavin Newsom directly blaming Trump’s “chaotic tariffs strategy” during his May 14 state budget announcement.

    The of Port Long Beach operations had seen dramatic deterioration. According to Cordero, the port received typically 20 container vessels weekly, but the number dropped to 14 vessels two weeks into May 2025 and current schedules showed only 18 this week.

    At the Port of Los Angeles, Executive Director Gene Seroka said during a media briefing that the facility had expected 80 ships to arrive in May, but 17 were subsequently canceled.

    The Port of Oakland in Northern California saw a 15 percent month-over-month drop in container activity in April, according to port spokesperson Matt Davis.

    The human cost also proved devastating across California’s supply chain network. Part-time port workers received no hours while full-time longshoremen struggled to reach 40 hours per week, according to Gary Herrera, president of the International Longshore Workers Union Local 13, speaking at a media briefing with Long Beach officials.

    Eric Tate, secretary-treasurer of Teamsters Local 848 representing about 8,000 truck drivers in Southern California, said in May that some drivers worked only one to two days weekly.

    “When there’s no work for longshoremen, there’s very little work for us except gate monitoring,” Luisa Gratz, president of International Longshore Workers Union Local 26, told CalMatters. “It’s heartbreaking. It’s putting people out of work.”

    California has deep economic ties with the Asia-Pacific markets. Chinese goods account for 40 percent of imports at the Port of Los Angeles, 63 percent at the Port of Long Beach, and 45 percent at the Port of Oakland, according to CalMatters’ data.

    The Port of Long Beach’s economic impact analysis showed the facility generates 309 billion dollars in national gross domestic product (GDP) and 84.4 billion dollars in tax revenues annually.

    The agricultural sector, California’s economic backbone worth 59 billion dollars annually, faced significant losses. “We got hammered. We lost the whole Chinese market to Australia. At this point, I’m on the verge of losing everything,” Christine Gemperle, an almond farmer of Stanislaus County, told The Los Angeles Times last month.

    Almond prices crashed from 2.5 dollars per pound to 1.4 dollars per pound due to tariffs imposed by Trump during his first term in 2018, according to research from the University of California’s Giannini Foundation of Agricultural Economics.

    Furthermore, the uncertainty caused by tariff policies has resulted in substantial economic damage for businesses, said experts.

    “The uncertainty here is not something because we have a virus we don’t understand, it’s the uncertainty around policy and what that has done to business, where there’s a lack of certainty, a lack of ability to plan has imposed costs on all of us,” Bingham said during his interview with Cordero.

    Economic analysts have warned of broader recession risks. The International Monetary Fund slashed its U.S. and global economic growth forecasts, citing Trump’s tariffs. Apollo Global Management’s chief economist, Torsten Slok, forecasts a “self-inflicted recession” by summer 2025, with layoffs spreading from trucking to retail.

    “You can’t put the toothpaste back into the tube — once you squeeze it, it’s out,” Constance Hunter, chief economist at the Economist Intelligence Unit, told The Washington Post on April 28.

    On Wednesday, a three-judge panel of the U.S. Court of International Trade invalidated Trump tariffs. In the ruling published on the court’s website, “The court holds for the foregoing reasons that IEEPA does not authorize any of the Worldwide, Retaliatory, or Trafficking Tariff Orders.”

    MIL OSI China News –