Category: China

  • MIL-OSI: 仙境传说之约定好的冒险 (Ragnarok: Promised Adventure, Tentative English Title) Received an ISBN Code by Chinese Government

    Source: GlobeNewswire (MIL-OSI)

    Seoul, South Korea, May 27, 2025 (GLOBE NEWSWIRE) — GRAVITY Co., Ltd. (NasdaqGM: GRVY) (“Gravity” or “Company”), a developer and publisher of online and mobile games, announced that 仙境传说定好的冒 (Ragnarok: Promised Adventure, tentative English title), an adventure MMORPG game, received an ISBN code by Chinese government disclosed on May 21, 2025.

    Ragnarok: Promised Adventure marks the second ISBN in 2025 following 仙境传说:初心 (PROJECT ABYSS, tentative English title) in January. Ragnarok: Promised Adventure is an adventure MMORPG game utilizing Ragnarok IP, built upon an original Ragnarok Online universe, and features multiple character training system and idle reward. Ragnarok: Promised Adventure was developed in collaboration with Kingnet Network Co., Ltd., a Chinese game developer and publisher.

    In February 2025, Gravity launched 仙境传说: (Ragnarok: Dawn, tentative English title), an HTML5 based idle MMORPG game, on WeChat, the largest mobile messenger platform in China, and achieved notable success by ranking eighth in top grossing of Mini Programs. Gravity is further strengthening a presence of the Ragnarok IP in Chinese region and accelerating preparation for the launch of Ragnarok: Promised Adventure to continue building on this momentum.

    Gravity stated, “In 2025, Ragnarok IP titles have continued to receive ISBN, marking meaningful milestones. Ragnarok: Promised Adventure is expected to continue the success of previous titles while delivering a fresh experience. We will do our utmost to prepare for the launch of Ragnarok: Promised Adventure in Chinese region as soon as possible and we sincerely ask for your interest and support.”

    [Gravity Official Website]
    http://www.gravity.co.kr

    About GRAVITY Co., Ltd. —————————————————

    Gravity is a developer and publisher of online and mobile games. Gravity’s principal product, Ragnarok Online, is a popular online game in many markets, including Japan and Taiwan, and is currently commercially offered in 91 regions. For more information about Gravity, please visit http://www.gravity.co.kr.

    Contact:

    Mr. Heung Gon Kim
    Chief Financial Officer
    Gravity Co., Ltd.
    Email: kheung@gravity.co.kr

    Ms. Jin Lee
    Ms. Yujin Oh
    Gravity Co., Ltd.
    Email: ir@gravity.co.kr
    Telephone: +82-2-2132-7801

    The MIL Network

  • MIL-OSI: Radware Recognizes Bell Canada and Presidio as Partners of the Year

    Source: GlobeNewswire (MIL-OSI)

    MAHWAH, N.J., May 27, 2025 (GLOBE NEWSWIRE) — Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, recognized Bell Canada, Canada’s largest communications company, and Presidio, a leading technology services and solutions provider, as its Partners of the Year. The annual award celebrates top performing partners that are dedicated to cyber security innovation and customer service excellence, and that have achieved exceptional business outcomes.

    “We are proud to recognize Bell and Presidio for their continued partnership and outstanding achievements,” said Yoav Gazelle, Radware’s chief business officer. “They are on the frontlines each day equipping customers with the critical cloud security solutions needed to mitigate risks and stay ahead of emerging threats to networks and applications. Together, we have created a powerful force for fighting cybercrime.”

    In addition to using Radware’s DDoS and Cloud Application Protection Services to defend their own infrastructures, Presidio and Bell offer Radware’s solutions to their customers.

    To safeguard on-premise, cloud, and hybrid environments, Presidio delivers Radware’s application and API security solutions, bot manager, and DDoS protection as part of its cybersecurity suite. Presidio has a decades-long history of building traditional IT foundations and deep expertise in AI and automation, security, networking, digital transformation, and cloud computing.

    “This award recognizes Presidio’s expertise in helping companies navigate the complexities of deploying and running an end-to-end cybersecurity solution, mitigating risk, and achieving compliance,” said Justin Tibbs, vice president, cyber security practice, at Presidio. “Our goal is to help make cybersecurity an innovation accelerator rather than a blocker, and our work with Radware plays an essential role in that approach.”

    As part of its security-as-a-service offering, Bell delivers Radware’s full cloud security stack, including Radware’s integrated Cloud Application and DDoS Protection Services.

    “Winning Radware’s Partner of the Year award for the second consecutive year is a tremendous honour,” said Errol Fernandes, Bell’s national director, solution sales – security and cloud. “Our collaboration with Radware is a key component of our approach to safeguarding our customers from web and application cyberthreats.”

    Radware’s global partner program offers ecosystem partners a lucrative and systematic approach to creating, managing, and growing sales opportunities based on Radware’s state-of-the-art cloud services and solutions. Complete with training, financial incentives, and support materials, the program rewards resellers, managed security service providers, carriers, and cloud service providers for the value they deliver throughout the customer lifecycle.

    About Radware
    Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.

    Radware encourages you to join our community and follow us on: Facebook, LinkedIn, Radware Blog, X, and YouTube.

    ©2025 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

    Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

    The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

    Safe Harbor Statement
    This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, tensions between China and Taiwan, financial and credit market fluctuations (including elevated interest rates), impacts from tariffs or other trade restrictions, inflation, and the potential for regional or global recessions; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cybersecurity and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, or if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors or by a critical system failure; our use of AI technologies that present regulatory, litigation, and reputational risks; risks related to the fact that our products must interoperate with operating systems, software applications and hardware that are developed by others;  outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns; our net losses in the past and the possibility that we may incur losses in the future; a slowdown in the growth of the cybersecurity and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; complications with the design or implementation of our new enterprise resource planning (“ERP”) system; our reliance on information technology systems; our ESG disclosures and initiatives; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.

    Media Contact:
    Gerri Dyrek
    Radware
    Gerri.Dyrek@radware.com 

    The MIL Network

  • MIL-OSI Asia-Pac: CSTB announces official names of giant panda twin cubs (with photos)

    Source: Hong Kong Government special administrative region

    CSTB announces official names of giant panda twin cubs  
    The Giant Panda Twin Cubs Naming Competition, organised by the Culture, Sports and Tourism Bureau and co-organised by the Ocean Park Corporation (OPC) earlier, has attracted overwhelming responses. After a review of over 35 700 submissions for the Competition, Jia Jia and De De were selected as the winning entries. The Judging Panel considered the names to be highly meaningful. The elder sister is named Jia Jia, with the Chinese character for Jia (加) conveying the message of support. Having the same pronunciation as the Chinese characters for “home” (家) and “auspices” (嘉) in both Cantonese and Putonghua, Jia also features an element of family and a sense of auspicious grace, embodying the prosperity of families and the nation as well as the happiness of its people. The little brother is named De De. As the Chinese character De (得) means “to succeed”, the name carries the connotation that Hong Kong is successful in everything. Also, De shares the same pronunciation as the Chinese character for “virtue” (德) in both Cantonese and Putonghua, suggesting that giant pandas, as national treasures, possess the virtues cherished by the Chinese people.
     
    At the event for the Announcement of Names of Giant Panda Twin Cubs, Miss Law said, “As the Chairperson of the Judging Panel for the Competition, when reviewing the suggested names submitted by members of the public, I was deeply impressed by their love for the cubs. Many suggested names carried profound meanings, while some were cute and joyful. All of the names suggested are filled with our blessings to the giant panda twin cubs.”
     
         “I, on behalf of the Government of the Hong Kong Special Administrative Region (HKSAR), again express heartfelt gratitude to the Central People’s Government for continuously providing strong support and guidance to Hong Kong on the conservation of giant pandas.” She continued, “Over the years, under the Central Government’s guidance, the HKSAR has been given the opportunity to participate in the important task of national giant panda conservation. This fully demonstrates the Central Government’s support and care for the HKSAR.” In addition, she thanked the experts of the China Conservation and Research Centre for the Giant Panda (CCRCGP) and the professional animal care team of the OPC for taking excellent care of all giant pandas in Hong Kong all along, particularly for providing professional postnatal care to mother Ying Ying and taking good care of the giant panda twin cubs. 
     
    The Judging Panel members of the Competition include Miss Law; the Chairman of the Board of the OPC, Mr Paulo Pong; the Deputy Director of the CCRCGP and expert for giant pandas, Mr Wei Rongping; Legislative Council Member Mr Kenneth Fok; Hong Kong, China swimming athlete Siobhan Bernadette Haughey; and the Head of Zoological Operations and Conservation of the OPC, Mr Howard Chuk. Details of the Competition can be found on Ocean Park’s dedicated website at www.oceanpark.com.hk/en/park-experience/giant-panda-twin-cubs-naming-competitionIssued at HKT 15:48

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: Students of the State University of Management are laureates of the All-Russian competition for the best scientific article

    Translation. Region: Russian Federal

    Source: State University of Management – Official website of the State –

    As part of the annual All-Russian scientific conference of young researchers with international participation “Economy Today: Current State and Development Prospects (Vector-2025)”, an All-Russian competition for the best scientific article was held.

    Students from 85 universities in Russia, Belarus, China and Vietnam applied to participate in the conference this year. Young scientists presented their research papers, in which they examined current issues in the industry, regional and global economy, management and marketing, financial management and the labor market.

    Students of the State University of Management Victoria Kostikova and Yulia Popova became laureates of the All-Russian competition for the best scientific article. Their work on the topic “The Impact of Sanctions on BRICS and Countermeasures: New Models of Economic Interaction”, written under the supervision of Associate Professor of the Department of World Economy and International Economic Relations of the State University of Management Ekaterina Karelina, was highly appreciated by the expert committee.

    Young scientists analyzed the impact of sanctions on the BRICS countries, examined emerging models of economic interaction in response to the West’s sanctions policy, and described possible scenarios for economic partnership based on the principles of multipolarity, technological sovereignty, and mutually beneficial long-term cooperation.

    We congratulate our students and wish them further success in the scientific field!

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News

  • MIL-OSI Asia-Pac: SFST visits Toronto and calls on enterprises to develop wealth management and family businesses in Hong Kong (with photos)

    Source: Hong Kong Government special administrative region

    SFST visits Toronto and calls on enterprises to develop wealth management and family businesses in Hong Kong Issued at HKT 11:38

    The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his five-day visit to Canada on May 26 (Toronto Time). His first stop was Toronto, where he met with representatives of two banks and an insurance group immediately after his arrival in the city.

    Mr Hui arrived in Toronto in the afternoon. He started his itinerary with a meeting with the Group Head, RBC Wealth Management, Mr Neil McLaughlin, and Executive Vice President and Global Head, Strategy, Products and Digital Investing, Mr Stuart Rutledge, of the Royal Bank of Canada. He then proceeded to Scotiabank to meet with its Group Head for Global Wealth Management, Ms Jacqui Allard, and Vice President, Strategic Cultural Segments, Mr Amit Brahme.

    Both banks are deeply interested in the development of the wealth management business in Hong Kong. Mr Hui shared that Hong Kong is currently the largest cross-border wealth management hub in Asia, and some anticipate that Hong Kong will leap into first place globally by 2028. The family office business is an important segment of the asset and wealth management sector in Hong Kong. As of end-2023, the size of private banking and private wealth management business attributed to family offices and private trusts clients reached US$185.2 billion (HK$1,452 billion), providing huge business opportunities for the asset and wealth management sector and other related professional services (such as legal and accounting services). Mr Hui also highlighted the diversity of financial products in Hong Kong and the latest passage of the stablecoins legislation, providing investors with numerous investment options. The banks were encouraged to utilise the developmental strengths of Hong Kong’s asset and wealth management industry and establish their presence in Hong Kong.

    Mr Hui also met with the Group Vice President and Head of Asia of Power Corporation of Canada, Mr Henry Liu, this evening. He introduced to him the facilitation and concession provided by the Government to family offices looking to set up or expand their business in Hong Kong, such as no licence being required for a single family office under the Securities and Futures Ordinance if it does not carry on a business of regulated activity in Hong Kong. Single family offices can also enjoy profit tax exemption for qualifying transactions. Mr Hui highlighted the Government’s efforts in enhancing the preferential tax regimes for funds, single family offices and carried interest, including expanding the scope of “fund” under the tax exemption regime, increasing the types of qualifying transactions eligible for tax concessions for funds and single family offices and enhancing the tax concession arrangement on the distribution of carried interest by private equity funds. The Government targets working out the details of the proposals by this year and submitting the legislative proposals to the Legislative Council for consideration in 2026, striving to implement the relevant measures from the year of assessment 2025/26. Mr Hui called on the company to leverage the ideal business environment with stability and predictability to set up family offices in Hong Kong. Power Corporation of Canada operates a wide range of businesses covering North America, Europe and Asia, including insurance, wealth management and investment businesses.

    On May 27 (Toronto Time), Mr Hui will visit two insurance companies, meet with the Hong Kong-Canada Business Association (Toronto Chapter) and attend a business luncheon with financial leaders in Toronto. He will also pay a courtesy call to the Consul-General of the People’s Republic of China in Toronto.

    Ends/Tuesday, May 27, 2025
    Issued at HKT 11:38

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: A task force has been sent to Shandong Province where a chemical plant explosion occurred

    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 27 (Xinhua) — China’s Ministry of Emergency Management on Tuesday dispatched a task force to the city of Gaomi in east China’s Shandong Province where an explosion occurred at 11:57 a.m.

    The emergency occurred in the workshop of one of the local chemical companies. At the moment, 232 rescuers and 55 vehicles have been mobilized to eliminate the consequences of the incident.

    The ministry demanded that the fire be put out as quickly as possible, that search and rescue operations be organized in every possible way, and that everything necessary be done to provide assistance to the victims. -0-

    MIL OSI Russia News

  • MIL-OSI Russia: China Ready to Expand Trade and Economic Cooperation with Cambodia – Li Qiang

    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

    KUALA LUMPUR, May 27 (Xinhua) — China is willing to work with Cambodia to promote trade and investment liberalization and facilitation to further expand economic and trade cooperation, Chinese Premier Li Qiang said here Tuesday when meeting with Cambodian Prime Minister Hong Manet on the sidelines of the ASEAN (Association of Southeast Asian Nations)-GCC (Gulf Cooperation Council)-China summit.

    Li Qiang noted that Chinese President Xi Jinping recently made a historic visit to Cambodia, during which the two sides jointly announced the establishment of an all-weather China-Cambodia community with a shared future in the new era.

    China-Cambodia relations are once again at the forefront of building a community with a shared future for mankind, and the strong friendship between the two countries is deepening, he added.

    China is willing to work with Cambodia to implement the achievements of Xi Jinping’s visit, strengthen high-level exchanges, deepen political mutual trust, effectively utilize the potential of the China-Cambodia Intergovernmental Coordination Committee, and steadily advance practical cooperation in various fields, Li Qiang said.

    The Chinese Premier called on China and Cambodia to respond to external uncertainties with confidence in building a China-Cambodia community with a shared future, jointly promote their own economic development and safeguard their common interests.

    Beijing is willing to work with Phnom Penh to accelerate the alignment of high-quality cooperation under the Belt and Road Initiative with Cambodia’s Pentagonal Strategy, accelerate the implementation of cooperation plans such as the Industrial Development Corridor and the Fish and Rice Corridor, and create new vibrant areas of cooperation and new growth areas, he said.

    China is willing to strengthen cooperation with Cambodia in areas such as infrastructure, digital economy, advanced manufacturing and clean energy, the premier added.

    Li Qiang said China and Cambodia have achieved positive results in their joint efforts to combat cross-border crime, calling on both countries to take more decisive and effective measures to ensure the safety of their people.

    At present, the international situation is becoming increasingly turbulent and chaotic, Li Qiang noted. China is willing to work with Cambodia and other countries in the region to strengthen solidarity and cooperation, jointly oppose unilateralism and power politics, safeguard international justice, support the multilateral trading system, and ensure the stable and smooth operation of industrial and supply chains, so as to inject more positive energy into world peace, stability, prosperity and development, he said. –0–

    MIL OSI Russia News

  • MIL-OSI Russia: Urgent: China Ready to Implement Global Civilization Initiative with ASEAN and GCC – Li Qiang

    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

    KUALA LUMPUR, May 27 (Xinhua) — China is willing to work with the Association of Southeast Asian Nations (ASEAN) and the Gulf Cooperation Council (GCC) to jointly implement the Global Civilization Initiative, Chinese Premier Li Qiang said here on Tuesday while addressing the ASEAN-China-GCC summit.

    He called on the three parties to effectively resolve differences through mutual understanding and explore a new path for the comprehensive development of various civilizations. –0–

    MIL OSI Russia News

  • MIL-OSI Russia: Breaking: China hopes for early conclusion of GCC FTA talks – Li Qiang

    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

    KUALA LUMPUR, May 27 (Xinhua) — Chinese Premier Li Qiang said here on Tuesday that he hopes for an early conclusion of talks on a free trade agreement between various parties and the Gulf Cooperation Council (GCC).

    Speaking at the ASEAN (Association of Southeast Asian Nations)-China-GCC summit, Li Qiang called on the three sides to unite adjacent regions into a larger common market where resources, technology and talent circulate more efficiently and trade and investment enjoy greater freedom and convenience. –0–

    MIL OSI Russia News

  • MIL-OSI Russia: China Ready to Expand Trade and Economic Cooperation with Cambodia – Li Qiang /more details/

    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

    KUALA LUMPUR, May 27 (Xinhua) — China is willing to work with Cambodia to promote trade and investment liberalization and facilitation to further expand economic and trade cooperation, Chinese Premier Li Qiang said here Tuesday when meeting with Cambodian Prime Minister Hong Manet on the sidelines of the ASEAN (Association of Southeast Asian Nations)-GCC (Gulf Cooperation Council)-China summit.

    Li Qiang noted that Chinese President Xi Jinping recently made a historic visit to Cambodia, during which the two sides jointly announced the establishment of an all-weather China-Cambodia community with a shared future in the new era.

    China-Cambodia relations are once again at the forefront of building a community with a shared future for mankind, and the strong friendship between the two countries is deepening, he added.

    China is willing to work with Cambodia to implement the achievements of Xi Jinping’s visit, strengthen high-level exchanges, deepen political mutual trust, effectively utilize the potential of the China-Cambodia Intergovernmental Coordination Committee, and steadily advance practical cooperation in various fields, Li Qiang said.

    The Chinese Premier called on China and Cambodia to respond to external uncertainties with confidence in building a China-Cambodia community with a shared future, jointly promote their own economic development, and safeguard their common interests.

    Beijing is willing to work with Phnom Penh to accelerate the alignment of high-quality cooperation under the Belt and Road Initiative with Cambodia’s Pentagonal Strategy, accelerate the implementation of cooperation plans such as the Industrial Development Corridor and the Fish and Rice Corridor, and create new vibrant areas of cooperation and new growth areas, he said.

    China is willing to strengthen cooperation with Cambodia in areas such as infrastructure, digital economy, advanced manufacturing and clean energy, the premier added.

    Li Qiang said China and Cambodia have achieved positive results in their joint efforts to combat cross-border crime, calling on both countries to take more decisive and effective measures to ensure the safety of their people.

    At present, the international situation is becoming increasingly turbulent and chaotic, Li Qiang noted. China is willing to work with Cambodia and other countries in the region to strengthen solidarity and cooperation, jointly oppose unilateralism and power politics, safeguard international justice, support the multilateral trading system, and ensure the stable and smooth operation of industrial and supply chains, so as to inject more positive energy into world peace, stability, prosperity and development, he said.

    Hun Manet, for his part, said Xi Jinping’s successful visit to Cambodia last month marked a new milestone in the ironclad friendship between the two countries.

    Cambodia firmly adheres to the one-China policy, supports China’s legitimate positions on issues concerning its core interests including Taiwan, Hong Kong, Xinjiang and Xinjiang, and opposes external interference in China’s internal affairs, he added.

    The Cambodian side is willing to work with China to implement the results of Xi Jinping’s visit, maintain high-level exchanges, make full use of various dialogue mechanisms, promote practical cooperation, strengthen people-to-people and cultural exchanges, and jointly combat cross-border crime, he said.

    Noting that Cambodia supports the three global initiatives put forward by Xi Jinping, Hun Manet said Phnom Penh hopes to work with Beijing to further strengthen multilateral coordination, uphold multilateralism, counter protectionism, maintain regional security and stability, and promote common global development. –0–

    MIL OSI Russia News

  • MIL-OSI Economics: Luis de Guindos: Interview with Ta Nea

    Source: European Central Bank

    Interview with Luis de Guindos, Vice-President of the ECB, conducted by Leonidas Stergiou on 21 May 2025

    27 May 2025

    What is the key message from the latest issue of the ECB’s Financial Stability Review?

    Uncertainty in the global economy has increased significantly since the last Financial Stability Review in November 2024, mainly because of the abrupt change in US tariff policy. Given this level of uncertainty, we see three main risks to financial stability.

    First, market valuations are very high and are now pricing in a benign scenario with no recession, lower inflation and lower interest rates. High valuations and high uncertainty could give rise to sharp market corrections – as we saw after the US tariff announcements on 2 April – and adjustments could become disorderly. Second, the heightened uncertainty is already affecting growth, which could elevate credit risks for banks and non-banks. The European Commission’s growth forecasts have been revised downwards for 2025 and 2026, businesses are postponing investments and households are delaying major purchases. Third, fiscal pressures are on the rise owing to higher defence spending in a low-growth environment. This could affect sovereign bond yields and raise concerns about sovereign debt sustainability in some countries.

    How do trade tensions with the United States affect the economy?

    We do not know what the final outcome of the ongoing trade negotiations will be, but they have certainly created uncertainty and volatility. They are affecting investment, weakening household confidence and reducing the growth prospects of the European economy. The trade negotiations are still ongoing but, ultimately, the level of tariffs is likely to be higher than it was before the start of the new US Administration. And we shouldn’t only focus on bilateral tariffs between the United States and the EU – we also need to look at global trade patterns and disruptions. If China redirects its exports to Europe, for example, the impact will be significant.

    What are the risks from non-banks?

    The non-bank financial sector is a very broad term that covers investment funds, insurance companies, pension funds and other financial intermediaries. Non-banks have weathered recent market disruptions well overall. But, in such an uncertain environment, with trade tensions increasing market volatility and weighing on asset quality, they could face higher valuation losses and more frequent margin calls.

    Hedge funds are our main concern here. First, because of liquidity risk: if redemptions increase, they might not have enough liquid assets to meet them. Second, because they can be extremely leveraged – not only in the traditional sense but also through derivatives – there is a risk that they might need to fire-sell assets and unwind their leverage. These factors may increase pressure on the market and exacerbate the risk of contagion in the event of a shock.

    The non-bank sector has grown significantly over the past few years and is less supervised than the banking sector. This is why we need an effective policy framework that improves the sector’s resilience and levels the playing field across Europe.

    Is the supervisory framework fair for small and medium-sized banks in the euro area?

    We think there is scope to simplify European banking regulation and reporting frameworks, in line with the initiatives of the European Commission. We have therefore created a task force within the Eurosystem to develop proposals on how to simplify the regulatory framework for European banks. Once approved by the Governing Council, these proposals will be sent to the European legislators for their consideration.

    The group is going to look at four main areas. First, how the capital structure could be made simpler and easier to understand for investors. Second, the remaining steps in the implementation of Basel III, considering what will be decided in other countries, like the United States. If the United States pursues a more lenient approach, the EU could be put at a competitive disadvantage. Third, simplifying the extensive reporting obligations that banks face, with a view to avoiding overlaps and reducing the administrative burden. And finally, simplifying our own supervisory framework. Our banking supervision arm has already taken several steps in this area, for example by streamlining our annual assessment of banks’ risk profiles.

    In any case, our recommendations will not undermine resilience, and banks’ capital levels should not be reduced. The aim is to make the regulatory and reporting frameworks simpler and easier to follow, without reducing banks’ solvency.

    In the Financial Stability Review, you mention the high deposit franchise value of Greek banks. Is this an advantage or a risk?

    Banks with a stable and strong deposit base are more resilient. By providing steady, low-cost funding, strong deposit franchises are a source of bank profitability. Greek banks are a case in point and so have a comparative advantage over banks that rely more on market financing.

    What is currently the main challenge for the Greek economy?

    Greece has made remarkable progress since the sovereign debt crisis ten years ago. Greek bond yields are now at historically low levels, banks are solvent and robust and the economy is growing faster than the euro area average. The labour market has also strengthened, with unemployment levels dropping significantly. This has been acknowledged by markets, rating agencies and institutions, including the European Commission and the ECB.

    To maintain this momentum, the main challenge at present is to enhance economic productivity by investing in education, innovation and infrastructure. This will help to boost wages and improve living standards in a sustainable manner and will support Greece in maintaining its strong economic performance in the medium term.

    MIL OSI Economics

  • MIL-OSI Economics: Secretary-General of ASEAN attends the ASEAN-Gulf Cooperation Council-China Summit in Kuala Lumpur

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today participated in the ASEAN-Gulf Cooperation Council (GCC)-China Summit, at the Kuala Lumpur Convention Centre in Malaysia. Held under the theme ‘Synergising Economic Opportunities towards Shared Prosperity,’ the Summit provided a platform for the Leaders of ASEAN, GCC, and China to exchange views on ways to strengthen economic resilience and shared prosperity across ASEAN, GCC and China, as well as for global prosperity.

    The post Secretary-General of ASEAN attends the ASEAN-Gulf Cooperation Council-China Summit in Kuala Lumpur appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI Russia: HSE Oriental Studies students accompanied foreign delegations to the anniversary Victory Parade

    Translation. Region: Russian Federal

    Source: State University Higher School of Economics – State University Higher School of Economics –

    In early May, official delegations from all over the world arrived in the Russian capital for the Victory Day celebrations. Volunteers were brought in to meet and accompany the distinguished guests, including students from the OP “Oriental StudiesFaculty of World Economy and World Politics (FMEiMP) HSE Natalia Kulakova (3rd year) and Polina Slobodenko (1st year), as well as Anton Klyuev, a 2024 graduate of the same program, visiting lecturer Schools of Oriental Studies HSE.

    Volunteers acted as translators and assistants, ensuring the high-ranking guests had a comfortable stay in the capital.

    Natalia Kulakova and Polina Slobodenko worked with the delegation from the People’s Republic of China, and Anton Klyuev joined in accompanying the Palestinian delegation. The HSE students not only provided language support, but also participated in a volunteer program, collaborating with liaison officers of the Russian Foreign Ministry.

    “The HSE motto “Not for school, but for life” is not just words. It is our approach to relations with the world. The opportunity, as a student, to apply your knowledge, to feel professional life, to see how history is made, from the inside, and not in the news feed – this is not just interesting. Such moments allow you to better understand yourself, what you want to do, what inspires you,” commented Anastasia Likhacheva, Dean of the Faculty of World Economy and International Relations at HSE.

    She also added that it is necessary to try professional life as early as possible and that HSE provides such opportunities. At the Faculty of World Economy and World Politics, this is considered one of the priority tasks.

    “I learned about volunteering from friends, participation in such an event is professional experience for me, so I was happy to join the volunteer corps. I attended a planning meeting, passed an interview – and I was sent to accompany the delegation of the PRC,” shared Natalia Kulakova.

    The student also said that she had to help representatives of the Ministry of Foreign Affairs accompany delegations, mainly at the hotel. “I was pleased with the opportunity to feel the kitchen from the inside. This is an invaluable experience of working with foreign delegations,” she believes.

    Before participating in the volunteer project, Polina and Natalia were not acquainted. “We had no problems with work communication. Together with representatives of the embassy in Moscow, we followed the Victory Parade ceremony, we told foreign guests in detail what was happening on the screen,” shared Polina Slobodenko.

    Polina has been studying Chinese for a long time and says that she was interested in observing the processes that took place inside the delegations. “What was the process of preparing the motorcades and the reaction of foreign students who were waiting for their country’s delegation to leave on the street worth,” Polina explained.

    She is confident that such events can help students, especially juniors, to get in touch with the region they are studying during their studies at the university and gain excellent experience in intercultural communication at a high level. “In addition to achieving professional goals, participation in such events allows us to make a small contribution to the celebration of such an important memorable date for our country,” the student added.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News

  • MIL-OSI Asia-Pac: President Lai meets and hosts luncheon for delegation led by Governor Lourdes A. Leon Guerrero of Guam

    Source: Republic of China Taiwan

    Details
    2025-05-27
    President Lai meets delegation from European Parliament
    On the morning of May 27, President Lai Ching-te met with a delegation from the European Parliament. In remarks, President Lai thanked the European Parliament for continuing to pay close attention to peace and stability across the Taiwan Strait and voice support for Taiwan. The president expressed hope for an even closer relationship and diversified cooperation between Taiwan and the European Union. The president said that Taiwan and the EU can work together in such areas as semiconductors, AI, and green energy to create more resilient supply chains for global democracies and contribute to global prosperity and development. A translation of President Lai’s remarks follows: I warmly welcome our guests to the Presidential Office. After being elected last year, MEPs Reinis Pozņaks and Beatrice Timgren are making their first visits to Taiwan, demonstrating support for Taiwan through concrete action. On behalf of the people of Taiwan, I extend my sincerest welcome and appreciation. I would also like to take this opportunity to thank the European Parliament for continuing to pay close attention to peace and stability across the Taiwan Strait. Just last month, the European Parliament adopted resolutions with regard to annual reports on the implementation of the European Union’s Common Foreign and Security Policy and Common Security and Defence Policy. These resolutions reaffirmed the EU’s steadfast commitment to maintaining the status quo across the Taiwan Strait. The European Parliament also condemned China for continuing to take provocative military actions against Taiwan and emphasized that Taiwan is a key democratic partner in the Indo-Pacific region. It called on the EU and its member states to continue working closely with Taiwan to strengthen economic, trade, and investment ties. Once again, I thank the European Parliament for voicing support for Taiwan. Just as MEPs Pozņaks and Timgren are visiting Taiwan to strengthen Taiwan-EU exchanges, our Minister of Economic Affairs Kuo Jyh-huei (郭智輝) also led a delegation to Europe last year, marking the first in-person dialogue between high-ranking economic and trade officials of Taiwan and the EU. Moving ahead, we look forward to bringing Taiwan-EU ties even closer and to diversifying our cooperation. The EU is Taiwan’s largest source of foreign investment. Both sides are highly complementary in such areas as semiconductors, AI, and green energy. Through our joint efforts, we can create more resilient supply chains for global democracies and further contribute to global prosperity and development. Looking ahead, I hope that MEPs Pozņaks and Timgren will continue to make the case in the European Parliament for the signing of a Taiwan-EU economic partnership agreement. This would not only yield mutually beneficial development, but also consolidate economic security and boost international competitiveness for both sides. In closing, I am sure that you will gain a deeper understanding of Taiwan through this visit. Please feel welcome to come back as often as possible as we continue to elevate Taiwan-EU ties.  MEP Pozņaks then delivered remarks, saying that it is a great honor to be here and thanking everybody involved in arranging this trip that allows them the opportunity to better know Taiwan. He added that it is definitely not the last time they will be here, as Taiwan is a very beautiful country. MEP Pozņaks mentioned that he comes from Latvia, and despite their being on the other side of the world, they know how the Taiwanese people feel, because they also have a big neighbor who is claiming that Latvia belongs to them. Unfortunately, he said, there is already war in Europe, but he is confident that their situation is similar to Taiwan’s, adding that they have a neighbor who uses disinformation attacks. MEP Pozņaks said that we live in very challenging times, and that our choices will define the future of the world, asking whether it will be a world where the rule of law prevails or where physical power and aggression succeeds. Coming from a small country, he said he clearly understands that for them there is no other possibility; they must protect the world where the rule of law prevails. That is why now, he emphasized, it is very crucial for all democracies around the world to stick together to protect our freedoms, values, and democracy. MEP Timgren then delivered remarks, thanking President Lai for meeting with them and saying it is a big honor. Noting that they arrived here two days ago and that while she really loves Taiwan, its food, and the good weather, she stated that the reason they are here is because of the values that we share, our good relationships, and solidarity with other democratic countries in the world, which is important for them in Europe and in Sweden. MEP Timgren, referring to MEP Pozņaks’s earlier remarks, said that they face a big threat from Russia that is discernible even in the European Parliament. Actually, she pointed out, there is a war inside Europe that shows us how important it is that we support one another. She said that the Russian people thought it would be easy to take over Ukraine, but it was not, because all European countries stepped up and provided weapons and support. And that is why, MEP Timgren said, it is important that democratic countries maintain good relationships and let China and Russia see that we have good relationships, because a part of defense is solidarity. In closing, she expressed her gratitude for having the honor to be here in this beautiful country.

    Details
    2025-05-20
    President Lai hosts state banquet for President Surangel Whipps Jr. of Republic of Palau
    On the evening of May 20, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, hosted a state banquet at the Presidential Office in honor of President Surangel Whipps Jr. of the Republic of Palau and his wife. In remarks, President Lai said that he looks forward to working closely with President Whipps to promote tourism exchanges and sports cooperation so that Taiwan and Palau shine brightly together on the international stage. A translation of President Lai’s remarks follows: It is a pleasure to host this banquet tonight at the Presidential Office for President Whipps, First Lady Valerie Whipps, and the esteemed members of their delegation. Welcome to Taiwan. During my trips to Palau in 2022 and last year, President and First Lady Whipps received me with great hospitality. Wearing my island shirt, I enjoyed a very friendly reception from the people of Palau. It felt warm and friendly, just like being welcomed back home. The first time I visited Palau, President Whipps and I piloted a boat to the Milky Way lagoon. We both tried volcanic mud facial masks. We also fished together and enjoyed the breeze as we walked on the beach. Last year, on my second visit to Palau, I was honored to be invited to address the National Congress. I also observed the results of the close bilateral cooperation between our two nations. Due to its world-famous ocean scenery, Palau is sometimes referred to as “God’s aquarium.” And it is even possible to snorkel with sharks. It leaves a deep impression. Nothing compares to seeing Palau firsthand. During the COVID-19 pandemic, Taiwan and Palau launched a travel bubble that created a safe means of travel. Now, with the pandemic behind us, I hope that even more Taiwanese can tour Palau and gain a greater understanding of our diplomatic ally. In addition to tourism exchanges, I mentioned on my visit to Palau last year that I hoped Taiwan and Palau could promote sports cooperation by providing training away from home. Next month, Palau will be holding the Pacific Mini Games. And right now, Palau’s national baseball and table tennis teams are holding training sessions here in Taiwan. We will do our utmost to support Palau’s national players and we hope they stand out and achieve outstanding results in the events. I look forward to working closely with President Whipps so that Taiwan and Palau shine brightly together on the international stage. Thank you! Mesulang! President Whipps then delivered remarks, saying that it is truly an honor to be here once again one year after President Lai’s inauguration. Mentioning that this is his first state visit after being reelected to a second term, he said that it is important to be here among friends, and that we are more than friends, we are family. He thanked President Lai for the generous words and, most importantly, Taiwan’s enduring support. He remarked that our relationship continues to get stronger in each passing year. President Whipps said that President Lai’s diplomacy initiative, leadership, and vision deeply resonate with them. Diplomacy must be rooted in our shared values, he said, and an unwavering support for our allies and a commitment to a sustainable, inclusive development are all deeply appreciated by their people. President Whipps emphasized that, as we look into the future and the challenges that we face, from security to climate change, it is so important that we are united. He added that it is important for the world, and especially important for them in Palau, that they stand up for Taiwan, so that Taiwan can participate on international fora that address climate change, security, and health, because they know the world is better when Taiwan has a seat at the table. Mentioning that Palau will host the Pacific Islands Forum next year, President Whipps said that Palau remains committed to working closely with Taiwan to ensure a successful event, and that they will continue to speak up for Taiwan’s indispensable contributions as we stand together against any efforts to silence or isolate democratic partners. President Whipps said that our nations have navigated challenges and emerged stronger, bound by a partnership that is built on trust, respect, and hope for a better world. Whether it is in clean energy, education, smart medicine, or tourism, our shared journey is just beginning, he said, and we are stronger together.  Also in attendance at the banquet were Palauan Minister of State Gustav Aitaro, Minister of Public Infrastructure and Industries Charles Obichang, Minister of Human Resources, Culture, Tourism and Development Ngiraibelas Tmetuchl, Senate Floor Leader Kerai Mariur, House of Delegates Floor Leader Warren Umetaro, High Chief of Ngiwal State Elliot Udui, Governor of Peleliu State Emais Roberts, and Governor of Koror State Eyos Rudimch.

    Details
    2025-05-20
    President Lai and President Surangel S. Whipps, Jr. of Palau hold bilateral talks and witness signing of cooperation agreements  
    On the afternoon of May 20, following a welcome ceremony with military honors for President Surangel S. Whipps, Jr. of the Republic of Palau and his wife, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, held bilateral talks with President Whipps at the Presidential Office. The two leaders also jointly witnessed the signing of a technical cooperation agreement and an agreement on diplomatic staff training cooperation. In remarks, President Lai thanked Palau for standing firm in its backing of Taiwan’s international participation as geopolitical tensions continue to increase in the Pacific region. He added that he looks forward to the cooperative ties between Taiwan and Palau continuing to expand into even broader areas, allowing our economies and societies to further progress as we jointly advance peace, stability, and prosperity in the Indo-Pacific region. A translation of President Lai’s remarks follows: I welcome our guests to Taiwan once again. Last year on May 20, President Whipps led a delegation to attend the inauguration ceremony for myself and Vice President Hsiao. I am delighted, on the anniversary of my first year in office, to meet with old friends of Taiwan again, as President Whipps returns for this visit. Taiwan-Palau relations have grown even closer in recent years thanks to the strong support of President Whipps. In 2022, during my term as vice president, I led a delegation to Palau as a demonstration of how our nations were together boosting tourism development as we jointly faced the challenges of the COVID-19 pandemic. Every time I visit Palau, and every time I meet with President Whipps, I feel very deeply that Taiwan and Palau are like family. We are both maritime nations and share a common Austronesian heritage and culture. We are also staunch partners in upholding such values as freedom, democracy, and respect for human rights. Last December, when I went on my first overseas trip since taking office, one of the nations I visited was Palau. We celebrated the 30th anniversary of Palau’s independence and 25 years of diplomatic relations, underscoring our friendly ties. Taiwan and Palau enjoy close exchanges and cooperation in a range of areas, including climate change, education, agriculture and fisheries, healthcare, humanitarian assistance, sports, and culture. After this meeting, President Whipps and I will witness the signing of a technical cooperation agreement and an agreement on diplomatic staff training cooperation, demonstrating once again our diverse collaboration and strong friendship. I believe that by working together, Taiwan and Palau can contribute to each other’s development and overcome the regional and global challenges we currently face. In particular, as geopolitical tensions continue to increase in the Pacific region, Palau has wisely and courageously upheld democratic values and stood firm in its backing of Taiwan’s international participation. Palau has never stopped voicing support for Taiwan, including at the United Nations General Assembly, the World Health Organization, the UN Framework Convention on Climate Change Conference of the Parties, and the UN Ocean Conference. We have been deeply moved by this support. I thank President Whipps again for his high regard and support for Taiwan. I look forward to the cooperative ties between our nations continuing to expand into even broader areas. This will allow our economies and societies to further progress as we jointly advance peace, stability, and prosperity in the Indo-Pacific region. President Whipps then delivered remarks, saying that it is a great honor for him to be here, standing in this historic place – a symbol of strength, resilience, and the democratic spirit of the Taiwanese people. On behalf of the government of Palau, President Whipps extended heartfelt gratitude to President Lai and the people of Taiwan for the warm welcome and gracious hospitality toward him and his delegation. President Whipps then extended sincere thanks for President Lai’s visit to Palau in December – his second visit to Palau – and for having Minister of Foreign Affairs Lin Chia-lung (林佳龍) attend his inauguration as a special envoy. He added that this also marks his third visit to Taiwan since President Lai took office, saying that this demonstrates the strength of our growing relationship. President Whipps indicated that the increased engagements and numerous entrepreneurs that President Lai has brought from Taiwan to Palau have resulted in fruitful visits, and that President Lai’s leadership represents hope, unity, and continued advancement of democracy and freedom, not only for Taiwan, but for the broader Indo-Pacific region. President Whipps went on to say that this visit to Taiwan reaffirms our deep friendship and shared values between our two nations. He emphasized that Palau and Taiwan are bound not by proximity, but by purpose, in that both are island nations and believe in human dignity, the rule of law, and the right of our people to determine their own futures. President Whipps stated that although we are celebrating 26 years of diplomatic relations, Taiwan has been a steadfast partner of Palau for decades, and that one of the MOUs they are signing further extends the relationship that began in December of 1984. From healthcare and medical missions, to education, agriculture, renewable energy, infrastructure, the private sector, tourism development, and climate resilience, he said, our cooperation has improved lives and strengthened our communities. The president also indicated that during the COVID-19 pandemic, Taiwan stood with Palau, noting that both sides began the tourism bubble, and that President Lai came to Palau to reopen the two weekly direct flights that have now been increased to four. That solidarity will never be forgotten, he said. As the world faces growing uncertainty and complex challenges from climate change to global tensions, President Whipps said, this friendship becomes even more vital. The president concluded his remarks by expressing hope that both nations continue to stand together, work together, and advocate together for peace, prosperity, and for the right of small nations to be seen, heard, and respected. After the bilateral talks, President Lai and President Whipps witnessed the signing of the technical cooperation agreement and the agreement on diplomatic staff training cooperation by Minister Lin and Palauan Minister of State Gustav Aitaro. The delegation also included Palauan Minister of Public Infrastructure and Industries Charles Obichang, Minister of Human Resources, Culture, Tourism and Development Ngiraibelas Tmetuchl, Senate Floor Leader Kerai Mariur, House of Delegates Floor Leader Warren Umetaro, High Chief of Ngiwal State Elliot Udui, Governor of Peleliu State Emais Roberts, and Governor of Koror State Eyos Rudimch.  

    Details
    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    Details
    2025-05-13
    President Lai interviewed by Japan’s Nikkei  
    In a recent interview with Japan’s Nikkei, President Lai Ching-te responded to questions regarding Taiwan-Japan and Taiwan-United States relations, cross-strait relations, the semiconductor industry, and the international economic and trade landscape. The interview was published by Nikkei on May 13. President Lai indicated that Nikkei, Inc. is a global news organization that has received significant recognition both domestically and internationally, and that he is deeply honored to be interviewed by Nikkei and grateful for their invitation. The president said that he would like to take this rare opportunity to thank Japan’s government, National Diet, society, and public for their longstanding support for Taiwan. Noting that current Prime Minister Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio have all strongly supported Taiwan, he said that the peoples of Taiwan and Japan also have a deep mutual affection, and that through the interview, he hopes to enhance the bilateral relationship between Taiwan and Japan, deepen the affection between our peoples, and foster more future cooperation to promote prosperity and development in both countries. In response to questions raised on the free trade system and the recent tariff war, President Lai indicated that over the past few decades, the free economy headed by the Western world and led by the US has brought economic prosperity and political stability to Taiwan and Japan. At the same time, he said, we have also learned or followed many Western values. The president said he believes that Taiwan and Japan are exemplary students, but some countries are not. Therefore, he said, the biggest crisis right now is China, which exploits the free trade system to engage in plagiarism and counterfeiting, infringe on intellectual property rights, and even provide massive government subsidies that facilitate the dumping of low-priced goods worldwide, which has a major impact on many countries including Japan and Taiwan. If this kind of unfair trade is not resolved, he said, the stable societies and economic prosperity we have painstakingly built over decades, as well as some of the values we pursue, could be destroyed. Therefore, President Lai said he thinks it is worthwhile for us to observe the recent willingness of the US to address unfair trade, and if necessary, offer assistance. President Lai emphasized that the national strategic plan for Taiwanese industries is for them to be rooted in Taiwan while expanding their global presence and marketing worldwide. Therefore, he said, while the 32 percent tariff increase imposed by the US on Taiwan is indeed a major challenge, we are willing to address it seriously and find opportunities within that challenge, making Taiwan’s strategic plan for industry even more comprehensive. When asked about Taiwan’s trade arrangements, President Lai indicated that in 2010 China accounted for 83.8 percent of Taiwan’s outbound investment, but last year it accounted for only 7.5 percent. In 2020, he went on, 43.9 percent of Taiwan’s exports went to China, but that figure dropped to 31.7 percent in 2024. The president said that we have systematically transferred investments from Taiwanese enterprises to Japan, Southeast Asia, Europe, and the US. Therefore, he said, last year Taiwan’s largest outbound investment was in the US, accounting for roughly 40 percent of the total. Nevertheless, only 23.4 percent of Taiwanese products were sold to the US, with 76.6 percent sold to places other than the US, he said.  The president emphasized that we don’t want to put all our eggs in one basket, and hope to establish a global presence. Under these circumstances, he said, Taiwan is very eager to cooperate with Japan. President Lai stated that at this moment, the Indo-Pacific and international community really need Japan’s leadership, especially to make the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) excel in its functions, and also requested Japan to support Taiwan’s CPTPP accession. The president said that Taiwan hopes to sign an Economic Partnership Agreement (EPA) with Japan to build closer ties in economic trade and promote further investment, and that we also hope to strengthen relations with the European Union, and even other regions. Currently, he said, we are proposing an initiative on global semiconductor supply chain partnerships for democracies, because the semiconductor industry is an ecosystem. The president raised the example that Japan has materials, equipment, and technology; the US has IC design and marketing; Taiwan has production and manufacturing; and the Netherlands excels in equipment, saying we therefore hope to leverage Taiwan’s advantages in production and manufacturing to connect the democratic community and establish a global non-red supply chain for semiconductors, ensuring further world prosperity and development in the future, and ensuring that free trade can continue to function without being affected by dumping, which would undermine future prosperity and development. The president stated that as we want industries to expand their global presence and market internationally while staying rooted here in Taiwan, having industries rooted in Taiwan involves promoting pay raises for employees, tax cuts, and deregulation, as well as promoting enterprise investment tax credits. He said that we have also proposed Three Major Programs for Investing in Taiwan for Taiwanese enterprises and are actively resolving issues regarding access to water, electricity, land, human resources, and professional talent so that the business community can return to Taiwan to invest, or enterprises in Taiwan can increase their investments. He went on to say that we are also actively signing bilateral investment agreements with friends and allies so that when our companies invest and expand their presence abroad, their rights and interests as investors are ensured.  President Lai mentioned that Taiwan hopes to sign an EPA with Japan, similar to the Taiwan-US Initiative on 21st-Century Trade and the Economic Prosperity Partnership Dialogue, or the Enhanced Trade Partnership arrangement with the United Kingdom, or similar agreements or memorandums of understanding with Canada and Australia that allow Taiwanese products to be marketed worldwide, concluding that those are our overall arrangements. Looking at the history of Taiwan’s industrial development, President Lai indicated, of course it began in Taiwan, and then moved west to China and south to Southeast Asia. He said that we hope to take this opportunity to strengthen cooperation with Japan to the north, across the Pacific Ocean to the east, and develop the North American market, making Taiwan’s industries even stronger. In other words, he said, while Taiwan sees the current reciprocal tariffs imposed by the US as a kind of challenge, it also views these changes positively. On the topic of pressure from China affecting Taiwan’s participation in international frameworks such as the CPTPP or its signing of an EPA with Japan, President Lai responded that the key point is what kind of attitude we should adopt in viewing China’s acts of oppression. If we act based on our belief in free trade, he said, or on the universal values we pursue – democracy, freedom, and respect for human rights – and also on the understanding that a bilateral trade agreement between Taiwan and Japan would contribute to the economic prosperity and development of both countries, or that Taiwan’s accession to the CPTPP would benefit progress and prosperity in the Indo-Pacific region, then he hopes that friends and allies will strongly support us. On the Trump administration’s intentions regarding the reciprocal tariff policy and the possibility of taxing semiconductors, as well as how Taiwan plans to respond, President Lai said that since President Trump took office, he has paid close attention to interviews with both him and his staff. The president said that several of President Trump’s main intentions are: First, he wants to address the US fiscal situation. For example, President Lai said, while the US GDP is about US$29 trillion annually, its national debt stands at US$36 trillion, which is roughly 124 percent of GDP. Second, he went on, annual government spending exceeds US$6.5 trillion, but revenues are only around US$4.5 trillion, resulting in a nearly US$2 trillion deficit each year, about 7 percent of GDP. Third, he said, the US pays nearly US$1.2 trillion in interest annually, which exceeds the US$1 trillion defense budget and accounts for more than 3 percent of GDP. Fourth, President Trump still wants to implement tax cuts, aiming to reduce taxes for 85 percent of Americans, he said, noting that this would cost between US$500 billion and US$1 trillion. These points, President Lai said, illustrate his first goal: solving the fiscal problem. President Lai went on to say that second, the US feels the threat of China and believes that reindustrialization is essential; without reindustrialization, the US risks a growing gap in industrial capacity compared to China. Third, he said, in this era of global smart technology, President Trump wants to lead the nation to become a world center of AI. Fourth, he aims to ensure world peace and prevent future wars, President Lai said. In regard to what the US seeks to achieve, he said he believes these four areas form the core of the Trump administration’s intentions, and that is why President Trump has raised tariffs, demanded that trading partners purchase more American goods, and encouraged friendly and allied nations to invest in the US, all in order to achieve these goals. President Lai indicated that the 32 percent reciprocal tariff poses a critical challenge for Taiwan, and we must treat it seriously. He said that our approach is not confrontation, but negotiation to reduce tariffs, and that we have also agreed to measures such as procurement, investment, resolving non-tariff trade barriers, and addressing origin washing in order to effectively reduce the trade deficit between Taiwan and the US. Of course, he said, through this negotiation process, we also hope to turn challenges into opportunities. The president said that first, we aim to start negotiations from the proposal of zero tariffs and seek to establish a bilateral trade agreement with the US. Second, he went on, we hope to support US reindustrialization and its aim to become a world AI hub through investment, while simultaneously upgrading and transforming Taiwan’s industries, which would help further integrate Taiwan’s industries into the US economic structure, ensuring Taiwan’s long-term development.  President Lai emphasized again that Taiwan’s national industrial strategy is for industries to stay firmly rooted in Taiwan while expanding their global presence and marketing worldwide. He repeated that we have gone from moving westward across the Taiwan Strait, to shifting southbound, to working closer northward with Japan, and now the time is ripe for us to expand eastward by investing in North America. In other words, he said, while we take this challenge seriously to protect national interests and ensure that no industry is sacrificed, we also hope these negotiations will lead to deeper Taiwan-US trade relations through Taiwanese investment in the US, concluding that these are our expectations. The president stated that naturally, the reciprocal tariffs imposed by the US will have an impact on Taiwanese industries, so in response, the Taiwanese government has already proposed support measures for affected industries totaling NT$93 billion. In addition, he said, we have outlined broader needs for Taiwan’s long-term development, which will be covered by a special budget proposal of NT$410 billion, noting that this has already been approved by the Executive Yuan and will be submitted to the Legislative Yuan for review. He said that this special budget proposal addresses four main areas: supporting industries, stabilizing employment, protecting people’s livelihoods, and enhancing resilience. As for tariffs on semiconductors, President Lai said, Taiwan Semiconductor Manufacturing Company (TSMC) has committed to investing in the US at the request of its customers. He said he believes that TSMC’s industry chain will follow suit, and that these are concrete actions that are unrelated to tariffs. However, he said, if the US were to invoke Section 232 and impose tariffs on semiconductors or related industries, it would discourage Taiwanese semiconductor and ICT investments in the US, and that we will make this position clear to the US going forward. President Lai indicated that among Taiwan’s exports to the US, there are two main categories: ICT products and electronic components, which together account for 65.4 percent. These are essential to the US, he said, unlike final goods such as cups, tables, or mattresses. He went on to say that what Taiwan sells to the US are the technological products required by AI designers like NVIDIA, AMD, Amazon, Google, and Apple, and that therefore, we will make sure the US understands clearly that we are not exporting end products, but the high-tech components necessary for the US to reindustrialize and become a global AI center. Furthermore, the president said, Taiwan is also willing to increase its defense budget and military procurement. He stated that Taiwan is committed to defending itself and is strongly willing to cooperate with friends and allies to ensure regional peace and stability, and that this is also something President Trump hopes to see. Asked whether TSMC’s fabs overseas could weaken Taiwan’s strategic position as a key hub for semiconductor manufacturing, and whether that could then give other countries fewer incentives to protect Taiwan, President Lai responded by saying that political leaders around the world including Japan’s Prime Minister Ishiba and former Prime Ministers Abe, Suga, and Kishida have emphasized, at the G7 and other major international fora, that peace and stability in the Taiwan Strait are essential for global security and prosperity. In other words, he explained, the international community cares about Taiwan and supports peace and stability in the Taiwan Strait because Taiwan is located in the first island chain in the Indo-Pacific, directly facing China. He pointed out that if Taiwan is not protected, China’s expansionist ambitions will certainly grow, which would impact the current rules-based international order. Thus, he said, the international community willingly cares about Taiwan and supports stability in the Taiwan Strait – that is the reason, and it has no direct connection with TSMC. He noted that after all, TSMC has not made investments in that many countries, stressing that, on that point, it is clear. President Lai said that TSMC’s investments in Japan, Europe, and the US are all natural, normal economic and investment activities. He said that Taiwan is a democratic country whose society is based on the rule of law, so when Taiwanese companies need to invest around the world for business needs, the government will support those investments in principle so long as they do not harm national interests. President Lai said that after TSMC Chairman C.C. Wei (魏哲家) held a press conference with President Trump to announce the investment in the US, Chairman Wei returned to Taiwan to hold a press conference with him at the Presidential Office, where the chairman explained to the Taiwanese public that TSMC’s R&D center will remain in Taiwan and that the facilities it has already committed to investing in here will not change and will not be affected. So, the president explained, to put it another way, TSMC will not be weakened by its investment in the US. He further emphasized that Taiwan has strengths in semiconductor manufacturing and is very willing to work alongside other democratic countries to promote the next stage of global prosperity and development. A question was raised about which side should be chosen between the US and China, under the current perception of a return to the Cold War, with East and West facing off as two opposing blocs. President Lai responded by saying that some experts and scholars describe the current situation as entering a new Cold War era between democratic and authoritarian camps; others assert that the war has already begun, including information warfare, economic and trade wars, and the ongoing wars in Europe – the Russo-Ukrainian War – and the Middle East, and the Israel-Hamas conflict. The president said that these are all matters experts have cautioned about, noting that he is not a historian and so will not attempt to define today’s political situation from an academic standpoint. However, he said, he believes that every country has a choice, which is to say, Taiwan, Japan, or any other nation does not necessarily have to choose between the US and China. What we are deciding, he said, is whether our country will maintain a democratic constitutional system or regress into an authoritarian regime, and this is essentially a choice of values – not merely a choice between two major powers. President Lai said that Taiwan’s situation is different from other countries because we face a direct threat from China. He pointed out that we have experienced military conflicts such as the August 23 Artillery Battle and the Battle of Guningtou – actual wars between the Republic of China and the People’s Republic of China. He said that China’s ambition to annex Taiwan has never wavered, and that today, China’s political and military intimidation, as well as internal united front infiltration, are growing increasingly intense. Therefore, he underlined, to defend democracy and sovereignty, protect our free and democratic system, and ensure the safety of our people’s lives and property, Taiwan’s choice is clear. President Lai said that China’s military exercises are not limited to the Taiwan Strait, and include the East China Sea, South China Sea, and even the Sea of Japan, as well as areas around Korea and Australia. Emphasizing that Taiwan, Japan, Australia, and the Philippines are all democratic nations, the president said that Taiwan’s choice is clear, and that he believes Japan also has no other choice. We are all democratic countries, he said, whose people have long pursued the universal values of democracy, freedom, and respect for human rights, and that is what is most important. Regarding the intensifying tensions between the US and China, the president was asked what roles Taiwan and Japan can play. President Lai responded that in his view, Japan is a powerful nation, and he sincerely hopes that Japan can take a leading role amid these changes in the international landscape. He said he believes that countries in the Indo-Pacific region are also willing to respond. He suggested several areas where we can work together: first, democracy and peace; second, innovation and prosperity; and third, justice and sustainability. President Lai stated that in the face of authoritarian threats, we should let peace be our beacon and democracy our compass as we respond to the challenges posed by authoritarian states. Second, he added, as the world enters an era characterized by the comprehensive adoption of smart technologies, Japan and Taiwan should collaborate in the field of innovation to further drive regional prosperity and development. Third, he continued, is justice and sustainability. He explained that because international society still has many issues that need to be resolved, Taiwan and Japan can cooperate for the public good, helping countries in need around the world, and cooperating to address climate change and achieve net-zero transition by 2050. Asked whether he hopes that the US will continue to be a leader in the liberal democratic system, President Lai responded by saying that although the US severed diplomatic ties with the Republic of China, for the past few decades it has assisted Taiwan in various areas such as national defense, security, and countering threats from China, based on the Taiwan Relations Act and the Six Assurances. He pointed out that Taiwan has also benefited, directly and indirectly, in terms of politics, democracy, and economic prosperity thanks to the US, and so Taiwan naturally hopes that the US remains strong and continues to lead the world. President Lai said that when the US encounters difficulties, whether financial difficulties, reindustrialization issues, or becoming a global center for AI, and hopes to receive support from its friends and allies to jointly safeguard regional peace and stability, Taiwan is willing to stand together for a common cause. If the US remains strong, he said, that helps Taiwan, the Indo-Pacific region, and the world as a whole. Noting that while the vital role of the US on the global stage has not changed, the president said that after decades of shouldering global responsibilities, it has encountered some issues. Now, it has to make adjustments, he said, stating his firm belief that it will do so swiftly, and quickly resume its leadership role in the world. Asked to comment on remarks he made during his election campaign that he would like to invite China’s President Xi Jinping for bubble tea, President Lai responded that Taiwan is a peace-loving country, and Taiwanese society is inherently kind, and therefore we hope to get along peacefully with China, living in peace and mutual prosperity. So, during his term as vice president, he said, he was expressing the goodwill of Taiwanese society. Noting that while he of course understands that China’s President Xi would have certain difficulties in accepting this, he emphasized that the goodwill of Taiwanese society has always existed. If China reflects on the past two or three decades, he said, it will see that its economy was able to develop with Taiwan as its largest foreign investor. The president explained that every year, 1 to 2 million Taiwanese were starting businesses or investing in China, creating numerous job opportunities and stabilizing Chinese society. While many Taiwanese businesses have profited, he said, Chinese society has benefited even more. He added that every time a natural disaster occurs, if China is in need, Taiwanese always offer donations. Therefore, the president said, he hopes that China can face the reality of the Republic of China’s existence and understand that the people of Taiwan hope to continue living free and democratic lives with respect for human rights. He also expressed hope that China can pay attention to the goodwill of Taiwanese society. He underlined that we have not abandoned the notion that as long as there is parity, dignity, exchange, and cooperation, the goodwill of choosing dialogue over confrontation and exchange over containment will always exist. Asked for his view on the national security reforms in response to China’s espionage activities and infiltration attempts, President Lai said that China’s united front infiltration activities in Taiwan are indeed very serious. He said that China’s ambitions to annex Taiwan rely not only on the use of political and military intimidation, but also on its long-term united front and infiltration activities in Taiwanese society. Recently, he pointed out, the Taiwan High Prosecutors Office of the Ministry of Justice prosecuted 64 spies, which is three times the number in 2021, and in addition to active-duty military personnel, many retired military personnel were also indicted. Moreover, he added, Taiwan also has the Chinese Unification Promotion Party, which has a background in organized crime, Rehabilitation Alliance Party, which was established by retired military personnel, and Republic of China Taiwan Military Government, which is also composed of retired generals. He explained that these are all China’s front organizations, and they plan one day to engage in collaboration within Taiwan, which shows the seriousness of China’s infiltration in Taiwan. Therefore, the president said, in the recent past he convened a high-level national security meeting and proposed 17 response strategies across five areas. He then enumerated the five areas: first, to address China’s threat to Taiwan’s sovereignty; second, to respond to the threat of China’s obscuring the Taiwanese people’s sense of national identity; third, to respond to the threat of China’s infiltrating and recruiting members of the ROC Armed Forces as spies; fourth, to respond to the threat of China’s infiltration of Taiwanese society through societal exchanges and united front work; and fifth, to respond to the threat of China using “integration plans” to draw Taiwan’s young people and Taiwanese businesses into its united front activities. In response to these five major threats, he said, he has proposed 17 response strategies, one of which being to restore the military trial system. He explained that if active-duty military personnel commit military crimes, they must be subject to military trials, and said that this expresses the Taiwanese government’s determination to respond to China’s united front infiltration and the subversion of Taiwan. Responding to the question of which actions Taiwan can take to guard against China’s threats to regional security, President Lai said that many people are worried that the increasingly tense situation may lead to accidental conflict and the outbreak of war. He stated his own view that Taiwan is committed to facing China’s various threats with caution. Taiwan is never the source of these problems, he emphasized, and if there is an accidental conflict and it turns into a full-scale war, it will certainly be a deliberate act by China using an accidental conflict as a pretext. He said that when China expanded its military presence in the East China Sea and South China Sea, the international community did not stop it; when China conducted exercises in the Taiwan Strait, the international community did not take strong measures to prevent this from happening. Now, he continued, China is conducting gray-zone exercises, which are aggressions against not only the Taiwan Strait, the South China Sea, and the East China Sea, but also extending to the Sea of Japan and waters near South Korea. He said that at this moment, Taiwan, the Philippines, Japan, and even the US should face these developments candidly and seriously, and we must exhibit unity and cooperation to prevent China’s gray-zone aggression from continuing to expand and prevent China from shifting from a military exercise to combat. If no action is taken now, the president said, the situation may become increasingly serious. Asked about the view of some US analysts who point out that China will have the ability to invade Taiwan around 2027, President Lai responded that Taiwan, as the country on the receiving end of threats and aggression, must plan for the worst and make the best preparations. He recalled a famous saying from the armed forces: “Do not count on the enemy not showing up; count on being ready should it strike.” This is why, he said, he proposed the Four Pillars of Peace action plan. First, he said, we must strengthen our national defense. Second, he added, we must strengthen economic resilience, adding that not only must our economy remain strong, but it must also be resilient, and that we cannot put all our eggs in the same basket, in China, as we have done in the past. Third, he continued, we must stand shoulder to shoulder with friends and allies such as Japan and the US, as well as the democratic community, and we must demonstrate the strength of deterrence to prevent China from making the wrong judgment. Fourth, he emphasized, as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China and seek cross-strait peace and mutual prosperity through exchanges and cooperation. Regarding intensifying US-China confrontation, the president was asked in which areas he thinks Taiwan and Japan should strengthen cooperation; with Japan’s Ishiba administration also being a minority government, the president was asked for his expectations for the Ishiba administration. President Lai said that in the face of rapid and tremendous changes in the political situation, every government faces considerable challenges, especially for minority governments, but the Japanese government led by Prime Minister Ishiba has quite adequately responded with various strategies. Furthermore, he said, Japan is different from Taiwan, explaining that although Japan’s ruling party lacks a majority, political parties in Japan engage in competition domestically while exhibiting unity externally. He said that Taiwan’s situation is more challenging, because the ruling and opposition parties hold different views on the direction of the country, due to differences in national identity. The president expressed his hope that in the future Taiwan and Japan will enjoy even more comprehensive cooperation. He stated that he has always believed that deep historical bonds connect Taiwan and Japan. Over the past several decades, he said, when encountering natural disasters and tragedies, our two nations have assisted each other with mutual care and support. He said that the affection between the people of Taiwan and Japan is like that of a family. Pointing out that both countries face the threat of authoritarianism, he said that we share a mission to safeguard universal values such as democracy, freedom, and respect for human rights. The president said that our two countries should be more open to cooperation in various areas to maintain regional peace and stability as well as to strengthen cooperation in economic and industrial development, such as for semiconductor industry chains and everyday applications of AI, including robots and drones, adding that we can also cooperate on climate change response, such as in hydrogen energy and other strategies. He said our two countries should also continue to strengthen people-to-people exchanges. He then took the opportunity to once again invite our good friends from Japan to visit Taiwan for tourism and learn more about Taiwan, saying that the Taiwanese people wholeheartedly welcome our Japanese friends.  

    Details
    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    MIL OSI Asia Pacific News

  • MIL-OSI: Golar LNG Limited Interim results for the period ended March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    Highlights and subsequent events

    • Golar LNG Limited (“Golar” or “the Company”) reports Q1 2025 net income attributable to Golar of $8 million, Adjusted EBITDA1 of $41 million and Total Golar Cash1 of $678 million.
    • Concluded the 20-year charter of FLNG Hilli for Southern Energy S.A. (“SESA”) in Argentina.
    • Signed definitive agreements for a 20-year charter for the MKII FLNG to SESA. Combined with the FLNG Hilli charter, the project will be for 5.95 mtpa of nameplate capacity – one of the world’s largest FLNG development projects.
    • FLNG Gimi in final stages of commissioning on the GTA field, Commercial Operations Date (“COD”) expected within Q2.
    • MKII FLNG conversion vessel Fuji LNG arrived at the shipyard for conversion works, conversion project on schedule for Q4 2027 delivery.
    • FLNG Hilli maintained market-leading operational track record and delivered its 132nd LNG cargo since contract start-up.
    • Sold minority shareholding in Avenir LNG Limited.
    • Completed exit from LNG shipping segment with sale of Golar Arctic.
    • Declared dividend of $0.25 per share for the quarter.
    • Progressed FLNG growth opportunities with commercial leads, shipyard availability and long lead equipment timing.

    FLNG Hilli: Maintained leading operational track record with 132 cargoes offloaded to date and over 9 million tons of LNG produced since operations commenced.

    Final Investment Decision (“FID”) for the 20-year redeployment of FLNG Hilli to Southern Energy in Argentina concluded (further details provided in the SESA charter agreements section). A dedicated team has progressed detailed work on Hilli’s re-deployment scope, vessel upgrade and transit to her new location.

    Following the conclusion of FLNG Hilli’s re-deployment contract, we will initiate discussions for debt optimization that reflects the strong earnings visibility for the FLNG unit.

    FLNG Gimi: In January 2025, the bp operated FPSO provided feedgas from the GTA field allowing for full commissioning to commence, triggering the final upward adjustment to the commissioning rate under the commercial reset agreed in August 2024. First LNG was achieved in February and in April 2025, FLNG Gimi completed the offload of its first full LNG cargo. This introduced Mauritania and Senegal as LNG exporters to the international gas market and triggered the final pre-COD milestone bonus payment to Golar under the terms of the commercial reset. COD, which remains on schedule for Q2 2025, triggers the start of the 20-year Lease and Operate Agreement that unlocks the equivalent of around $3 billion of Adjusted EBITDA backlog1 (Golar’s share) and recognition of contractual payments comprised of capital and operating elements in both the balance sheet and income statement.

    As of May 2025, Golar has invoiced $195.9 million of pre-COD fees under the commercial reset arrangements, with this amount currently recognized on the balance sheet.

    On March 20, 2025, a $1.2 billion debt facility to refinance FLNG Gimi was signed with a consortium of leading Chinese leasing companies. The contemplated sale and leaseback facility features a tenor of 12 years and a 17-year amortization profile. Upon closing and repayment of the existing debt facility, Gimi MS Corporation is expected to generate net proceeds of approximately $530 million. This amount includes the release of existing interest rate swaps. Golar stands to benefit from 70% of these proceeds, equivalent to approximately $371 million. The transaction remains subject to customary closing conditions and third party stakeholder approvals. Golar has also progressed a rating process to further evaluate debt optimization alternatives for the vessel during the quarter.

    MKII FLNG 3.5 MTPA conversion: Conversion work on the $2.2 billion MKII FLNG is proceeding to schedule. The conversion vessel Fuji LNG entered CIMC’s Yantai yard in February 2025 and in April the vessel was successfully separated into forward and aft sections. A mid-ship section housing the liquefaction unit will be inserted between and attached to the refurbished forward and aft sections later in the conversion process. Fabrication of the topsides for the mid-ship section is also underway. As of March 31, 2025, Golar has spent $0.7 billion on the MKII FLNG conversion, all of which is equity funded. The MKII FLNG is expected to be delivered in Q4 2027.

    With a definitive agreement that contemplates a 2H 2025 FID now secured, Golar will consider alternatives for asset level MKII FLNG financing.

    Southern Energy charter agreements: On May 2, 2025, Golar announced a FID for the 20-year charter of FLNG Hilli. The vessel will be chartered to SESA offshore Argentina. Golar and SESA also signed definitive agreements for a 20-year charter of the MKII FLNG. The MKII FLNG charter remains subject to FID and the same regulatory approvals as those granted to the FLNG Hilli project, expected within 2025.

    Key commercial terms for the respective 20-year charter agreements include:

    • FLNG Hilli (nameplate capacity of 2.45mtpa): Expected contract start-up in 2027, expected  Adjusted EBITDA1 to Golar of $285 million per year, plus a commodity linked tariff component of 25% of Free on Board (“FOB”) prices in excess of $8/MMBtu; and,
    • MKII FLNG (nameplate capacity of 3.5mtpa): Expected contract start-up in 2028, expected  Adjusted EBITDA1 to Golar of $400 million per year, plus a commodity linked tariff component of 25% of FOB prices in excess of $8/MMBtu.

    The two FLNG agreements are expected to add $13.7 billion in Adjusted EBITDA backlog1 to Golar over 20 years, before inflationary adjustments (30% of U.S. CPI from year 6) to the charter hire, and before the commodity linked tariff upside. Where achieved FOB prices exceed the $8/MMBtu reference price, Golar will receive 25% of the excess amount (this reference price is subject to the same 30% US CPI adjustment from year 6). The commodity linked element in the FLNG charter provides an upside of $70 million per year to Golar for every $ 1/MMBtu the achieved FOB price is higher than the USD 8/MMBtu reference price. The upside calculation is based on monthly achieved FOB prices.

    While the commodity linked tariff component is upside oriented, the Company has also agreed to a mechanism where the charter hire can be partially reduced for FOB prices below $7.5/MMBtu, down to a floor of $6/MMBtu. Under this mechanism, the maximum accumulated discount over the life of both contracts has a cap of $210 million, and any outstanding discounted charter hire amounts will be recovered through additional upside sharing if FOB prices return to levels above $7.5/MMBtu. Golar is not exposed to further downside in the commodity linked FLNG charter mechanism. The upside calculation is based on monthly achieved FOB prices, whilst the downside adjustment is based on annual average achieved FOB prices. The downside mechanism is based on annual average achieved FOB prices.

    SESA, a company formed to export Argentinian LNG, is owned by a consortium of leading Argentinian gas producers including Pan American Energy (30%), YPF (25%), Pampa Energia (20%), Harbour Energy (15%) and Golar (10%). The four gas producers have committed to supply their pro-rata share of natural gas to the FLNGs under Gas Sales Agreements at a fixed price per MMBtu. Golar’s 10% shareholding in SESA provides additional commodity exposure. The 10% equity stake equates to approximately $28 million in annual additional commodity exposure to Golar for every $1/MMBtu change in achieved FOB prices versus SESA’s cash break even.

    With the combination of the fixed charter hire with 30% of U.S. CPI inflation from year 6, operating expenses pass through, 25% commodity exposure in the FLNG tariff for FOB prices above $8/MMBtu and Golar’s 10% shareholding in SESA, Golar believes it has secured a highly attractive risk-reward in the SESA charters. For every $1 FOB price above $8/MMBtu, Golar’s total commodity upside is approximately $100 million, versus approximately $28 million in downside for every $1/MMBtu that realized FOB prices are below SESA’s cash break even.

    Located offshore in close proximity of each other in Rio Negro’s Gulf of San Matias, the FLNG’s will monetize gas from the Vaca Muerta formation, the world’s second largest shale gas resource, located onshore in Argentina’s Neuquen province. FLNG Hilli will initially utilize spare volumes from the existing pipeline network. SESA intends to facilitate the construction of a dedicated pipeline from Vaca Muerta to the Gulf of San Matias to supply gas to the FLNGs and the project expects to benefit from significant operational efficiencies and synergies from two FLNGs in the same area.

    The charters are also subject to strong legal and regulatory protections including:

    • both charter agreements are subject to English Law with dispute resolution pursuant to ICC arbitration in Paris, France;
    • hire and other payments under both contracts are fully paid in U.S. dollars;
    • SESA has obtained Argentina’s first ever 30-year non-interruptible LNG export license for FLNG Hilli, providing security of exports, necessary for the significant upstream and midstream investments, as well as securing offtake contracts; and
    • MKII FLNG is expected to obtain a similar term export license within 2025.

    FLNG Hilli has been approved for adherence to the Large Investments Incentive Scheme (“RIGI”), as a Long-Term Strategic Export project. The RIGI was implemented by the current administration of President Milei to incentivize large investments in Argentina. Under the RIGI, there are incentives and protections granted to the project company (SESA), with Golar benefiting as an international asset provider and investor, mostly notably:

    • guaranteed legal certainty and regulatory stability for the duration of the project, covering taxes, customs, duties, and foreign exchange controls;
    • any new national, provincial, or municipal taxes or restrictions would not apply to RIGI projects beyond those existing when the project was approved; and
    • freedom to repatriate profits, dividends, and capital including exemption from potential Central Bank restrictions on access to foreign exchange for repatriation purposes.

    If Argentina breaches the RIGI framework (e.g. by purporting to change the regime unilaterally), the beneficiary of the RIGI status can:

    • bring legal action against the National or Provincial Government (as applicable) under ICC arbitration, or elect to challenge the revocation through administrative channels; and
    • challenge the constitutionality of enacted law which breaches the RIGI protections.

    Business development: Detailed discussions for FLNG opportunities continue. With limited yard capacity for FLNG delivery before the 2030s, and with the current Golar fleet committed, we see firming demand for the remaining available 2020s deliveries. Progress is being made on FLNG projects ranging from MKI, MKII and MKIII FLNG developments. We target FLNG opportunities with competitive wellhead gas to secure attractive base tariff and commodity upside participation. We are also in commercial negotiations with potential charterers seeking equity participation in the FLNG to align project stakeholders.

    On the back of the recent commitments for the existing fleet and with ongoing detailed commercial discussions, we are working with shipyards and topside equipment providers to firm-up prices and schedules for potential ordering of additional unit(s) within 2025. Any growth initiatives are planned to be funded with recycled liquidity from debt optimization of the existing FLNG fleet on the back of their long term charters.

    Corporate/Other: Operating revenues and costs under corporate and other items are comprised of two FSRU operate and maintain agreements in respect of the LNG Croatia and Italis LNG together with the  Golar Arctic up to her point of sale in March 2025, for $24 million, and the Fuji LNG, up to the point she entered CIMC’s yard in February 2025 for FLNG conversion.

    In February 2025, Golar also closed the sale of its non-core 23.4% interest in Avenir LNG Limited, for $39 million.

    Shares and dividends: As of March 31, 2025, 104.7 million shares are issued and outstanding. Golar’s Board of Directors approved a total Q1 2025 dividend of $0.25 per share to be paid on or around June 10, 2025. The record date will be June 3, 2025.

    Financial Summary

    (in thousands of $) Q1 2025 Q1 2024 % Change Q4 2024 % Change
    Net income 12,939 66,495 (81)% 15,037 (14)%
    Net income attributable to Golar LNG Ltd 8,197 55,220 (85)% 4,494 82%
    Total operating revenues 62,502 64,959 (4)% 65,917 (5)%
    Adjusted EBITDA 1 40,936 63,587 (36)% 59,168 (31)%
    Golar’s share of Contractual Debt 1 1,494,615 1,209,407 24% 1,515,357 (1)%

    Financial Review 

    Business Performance:

      2025 2024
    (in thousands of $) Jan-Mar Oct-Dec Jan-Mar
    Net income        12,939        15,037        66,495
    Income taxes              179            (504)              138
    Net income before income taxes        13,118        14,533        66,633
    Depreciation and amortization        12,638        13,642        12,476
    Impairment of long-term assets                —        22,933                —
    Unrealized loss/(gain) on oil and gas derivative instruments        25,001        14,269        (2,148)
    Other non-operating loss                —          7,000                —
    Interest income        (8,699)        (9,866)      (10,026)
    Loss/(gain) on derivative instruments, net          6,795        (8,711)        (6,202)
    Other financial items, net          2,292          1,153          2,640
    Net (income)/loss from equity method investments      (10,209)          4,215              214
    Adjusted EBITDA 1        40,936        59,168        63,587
      2025 2024
      Jan-Mar Oct-Dec
    (in thousands of $) FLNG Corporate and other Total FLNG Corporate and other Total
    Total operating revenues        55,688          6,814        62,502        56,396          9,521        65,917
    Vessel operating expenses      (18,785)        (9,685)      (28,470)      (19,788)        (8,121)      (27,909)
    Voyage, charterhire & commission expenses                —                —                —                —           (446)           (446)
    Administrative expenses           (588)        (8,999)        (9,587)           (264)        (7,241)        (7,505)
    Project development expenses        (2,351)           (968)        (3,319)        (3,624)        (1,236)        (4,860)
    Realized gain on oil and gas derivative instruments (2)        21,213                —        21,213        33,502                —        33,502
    Other operating income                —        (1,403)        (1,403)             469                —             469
    Adjusted EBITDA 1        55,177      (14,241)        40,936        66,691        (7,523)        59,168

    (2) The line item “Realized and unrealized (loss)/gain on oil and gas derivative instruments” in the Unaudited Consolidated Statements of Operations relates to income from the Hilli Liquefaction Tolling Agreement (“LTA”) and the natural gas derivative which is split into: “Realized gain on oil and gas derivative instruments” and “Unrealized (loss)/gain on oil and gas derivative instruments”.

      2024
      Jan-Mar
    (in thousands of $) FLNG Corporate and other Total
    Total operating revenues               56,368                  8,591               64,959
    Vessel operating expenses              (18,784)                (7,078)              (25,862)
    Voyage, charterhire & commission expenses                       —                (1,770)                (1,770)
    Administrative expenses                   (471)                (6,604)                (7,075)
    Project development expenses/(income)                (1,085)                     273                   (812)
    Realized gain on oil and gas derivative instruments               34,147                       —               34,147
    Adjusted EBITDA 1               70,175                (6,588)               63,587

    Golar reports today Q1 2025 net income of $13 million, before non-controlling interests, inclusive of $32 million of non-cash items1, comprised of:

    • TTF and Brent oil unrealized mark-to-market (“MTM”) losses of $25 million; and
    • A $7 million MTM loss on interest rate swaps.

    The Brent oil linked component of FLNG Hilli’s fees generates additional annual cash of approximately $3.1 million for every dollar increase in Brent Crude prices between $60 per barrel and the contractual ceiling. Billing of this component is based on a three-month look-back at average Brent Crude prices. During Q1 2025, we recognized a total of $21 million of realized gains on FLNG Hilli’s oil and gas derivative instruments, comprised of a: 

    • $12 million realized gain on the Brent oil linked derivative instrument; and
    • $9 million realized gain in respect of fees for the TTF linked production.

    We also recognized $25 million of non-cash losses in relation to FLNG Hilli’s oil and gas derivative assets, with corresponding changes in the fair value in its constituent parts recognized on our unaudited consolidated statement of operations as follows:

    • $13 million loss on the Brent oil linked derivative asset; and
    • $12 million loss on the TTF linked natural gas derivative asset. 

    Balance Sheet and Liquidity:

    As of March 31, 2025, Total Golar Cash1 was $678 million, comprised of $522 million of cash and cash equivalents and $156 million of restricted cash. 

    Golar’s share of Contractual Debt1 as of  March 31, 2025 is $1,495 million. Deducting Total Golar Cash1 of $678 million from Golar’s share of Contractual Debt1 leaves a net debt position of $817 million. 

    Assets under development amounts to $2.5 billion, comprised of $1.8 billion in respect of FLNG Gimi and $0.7 billion in respect of the MKII FLNG. The carrying value of LNG carrier Fuji LNG, previously included under Vessels and equipment, net in Q4 2024 was transferred to Assets under development in Q1 2025.

    Non-GAAP measures

    In addition to disclosing financial results in accordance with U.S. generally accepted accounting principles (US GAAP), this earnings release and the associated investor presentation contains references to the non-GAAP financial measures which are included in the table below. We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business and measuring our performance.

    This report also contains certain forward-looking non-GAAP measures for which we are unable to provide a reconciliation to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside of our control, such as oil and gas prices and exchange rates, as such items may be significant. Non-GAAP measures in respect of future events which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied to Golar’s unaudited consolidated financial statements.

    These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures and financial results calculated in accordance with GAAP. Non-GAAP measures are not uniformly defined by all companies and may not be comparable with similarly titled measures and disclosures used by other companies. The reconciliations as at March 31, 2025 and for the three months ended March 31, 2025, from these results should be carefully evaluated.

    Non-GAAP measure Closest equivalent US GAAP measure Adjustments to reconcile to primary financial statements prepared under US GAAP Rationale for adjustments
    Performance measures
    Adjusted EBITDA Net income/(loss)  +/- Income taxes
    + Depreciation and amortization
    + Impairment of long-lived assets
    +/- Unrealized (gain)/loss on oil and gas derivative instruments
    +/- Other non-operating (income)/losses
    +/- Net financial (income)/expense
    +/- Net (income)/losses from equity method investments
    +/- Net loss/(income) from discontinued operations
    Increases the comparability of total business performance from period to period and against the performance of other companies by excluding the results of our equity investments, removing the impact of unrealized movements on embedded derivatives, depreciation, impairment charge, financing costs, tax items and discontinued operations.
    Distributable Adjusted EBITDA Net income/(loss)  +/- Income taxes
    + Depreciation and amortization
    + Impairment of long-lived assets
    +/- Unrealized (gain)/loss on oil and gas derivative instruments
    +/- Other non-operating (income)/losses
    +/- Net financial (income)/expense
    +/- Net (income)/losses from equity method investments
    +/- Net loss/(income) from discontinued operations
    – Amortization of deferred commissioning period revenue
    – Amortization of Day 1 gains
    – Accrued overproduction revenue
    + Overproduction revenue received
    – Accrued underutilization adjustment
    Increases the comparability of our operational FLNG Hilli from period to period and against the performance of other companies by removing the non-distributable income of FLNG Hilli, project development costs, the operating costs of the Gandria (prior to her disposal) and FLNG Gimi.
    Liquidity measures
    Contractual debt 1 Total debt (current and non-current), net of deferred finance charges  +/-Variable Interest Entity (“VIE”) consolidation adjustments
    +/-Deferred finance charges
    During the year, we consolidate a lessor VIE for our Hilli sale and leaseback facility. This means that on consolidation, our contractual debt is eliminated and replaced with the lessor VIE debt.

    Contractual debt represents our debt obligations under our various financing arrangements before consolidating the lessor VIE.

    The measure enables investors and users of our financial statements to assess our liquidity, identify the split of our debt (current and non-current) based on our underlying contractual obligations and aid comparability with our competitors.

    Adjusted net debt Adjusted net debt based on
    GAAP measures:
    -Total debt (current and
    non-current), net of
    deferred finance
    charges
    – Cash and cash
    equivalents
    – Restricted cash and
    short-term deposits
    (current and non-current)
    – Other current assets (Receivable from TTF linked commodity swap derivatives)
    Total debt (current and non-current), net of:
    +Deferred finance charges
    +Cash and cash equivalents
    +Restricted cash and short-term deposits (current and non-current)
    +/-VIE consolidation adjustments
    +Receivable from TTF linked commodity swap derivatives
    The measure enables investors and users of our financial statements to assess our liquidity based on our underlying contractual obligations and aids comparability with our competitors.
    Total Golar Cash Golar cash based on GAAP measures:

    + Cash and cash equivalents

    + Restricted cash and short-term deposits (current and non-current)

    -VIE restricted cash and short-term deposits We consolidate a lessor VIE for our sale and leaseback facility. This means that on consolidation, we include restricted cash held by the lessor VIE.

    Total Golar Cash represents our cash and cash equivalents and restricted cash and short-term deposits (current and non-current) before consolidating the lessor VIE.

    Management believe that this measure enables investors and users of our financial statements to assess our liquidity and aids comparability with our competitors.

    (1) Please refer to reconciliation below for Golar’s share of contractual debt

    Adjusted EBITDA backlog (also referred to as “earnings backlog”): This is a non-GAAP financial measure and represents the share of contracted fee income for executed contracts or definitive agreements less forecasted operating expenses for these contracts/agreements. Adjusted EBITDA backlog should not be considered as an alternative to net income / (loss) or any other measure of our financial performance calculated in accordance with U.S. GAAP.

    Non-cash items: Non-cash items comprised of impairment of long-lived assets, release of prior year contract underutilization liability, MTM movements on our TTF and Brent oil linked derivatives, listed equity securities and interest rate swaps (“IRS”) which relate to the unrealized component of the gains/(losses) on oil and gas derivative instruments, unrealized MTM (losses)/gains on investment in listed equity securities and gains on derivative instruments, net, in our unaudited consolidated statement of operations.

    Abbreviations used:

    FLNG: Floating Liquefaction Natural Gas vessel
    FSRU: Floating Storage and Regasification Unit
    MKII FLNG: Mark II FLNG
    FPSO: Floating Production, Storage and Offloading unit

    MMBtu: Million British Thermal Units
    mtpa: Million Tons Per Annum

    Reconciliations – Liquidity Measures

    Total Golar Cash

    (in thousands of $) March 31, 2025 December 31, 2024 March 31, 2024
    Cash and cash equivalents             521,434           566,384           547,868
    Restricted cash and short-term deposits (current and non-current)           172,879           150,198             92,159
    Less: VIE restricted cash and short-term deposits            (16,745)            (17,472)            (17,933)
    Total Golar Cash           677,568           699,110           622,094

    Contractual Debt and Adjusted Net Debt

    (in thousands of $) March 31, 2025 December 31, 2024 March 31, 2024
    Total debt (current and non-current) net of deferred finance charges        1,418,816        1,452,255        1,195,063
    VIE consolidation adjustments           251,728           241,666           213,042
    Deferred finance charges             20,946             22,686             22,337
    Total Contractual Debt        1,691,490        1,716,607        1,430,442
    Less: Keppel’s and B&V’s share of the FLNG Hilli contractual debt                     —                     —            (32,035)
    Less: Keppel’s share of the Gimi debt         (196,875)         (201,250)         (189,000)
    Golar’s share of Contractual Debt        1,494,615        1,515,357        1,209,407

    Please see Appendix A for a capital repayment profile for Golar’s Contractual Debt.

    Forward Looking Statements

    This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management’s current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “if,” “subject to,” “believe,” “assuming,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “could,” “would,” “predict,” “propose,” “continue,” or the negative of these terms and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Golar undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise. Other important factors that could cause actual results to differ materially from those in the forward-looking statements include but are not limited to:

    • our ability and that of our counterparty to meet our respective obligations under the 20-year lease and operate agreement (the “LOA”) with BP Mauritania Investments Limited, a subsidiary of BP p.l.c. (“bp”), entered into in connection with the Greater Tortue Ahmeyim Project (the “GTA Project”), including the commissioning and start-up of various project infrastructure. Delays to FLNG commissioning works and the start of operations for our FLNG Gimi (“FLNG Gimi”) could result in incremental costs to both parties to the LOA;
    • our ability to meet our obligations under our commercial agreements, including the liquefaction tolling agreement (the “LTA”) entered into in connection with the FLNG Hilli Episeyo (“FLNG Hilli”);
    • our ability to meet our obligations to SESA in connection with the recently signed agreement to deploy FLNG Hilli in Argentina, and SESA’s ability to meet its obligations to us;
    • our ability to meet our obligations to SESA in connection with the recently signed definitive agreement to deploy our FLNG in conversion, MKII FLNG in Argentina, including reaching a final investment decision, and SESA’s ability to meet its obligations to us;
    • our ability to obtain additional financing or refinance existing debt on acceptable terms or at all including the satisfaction of the conditions precedent to the consummation of the FLNG Gimi sale leaseback transaction;
    • global economic trends, competition, and geopolitical risks, including U.S. government actions, trade tensions or conflicts such as between the U.S. and China, related sanctions, a potential Russia-Ukraine peace settlement and its potential impact on liquefied natural gas (“LNG”) supply and demand;
    • a material decline or prolonged weakness in tolling rates for FLNGs;
    • failure of shipyards to comply with schedules, performance specifications or agreed prices;
    • failure of our contract counterparties to comply with their agreements with us or other key project stakeholders;
    • an increase in tax liabilities in the jurisdictions where we are currently operating, have previously operated, or expect to operate;
    • continuing volatility in the global financial markets, including commodity prices, foreign exchange rates and interest rates and global trade policy, particularly the recent imposition of tariffs by the U.S. government;
    • changes in general domestic and international political conditions, particularly where we operate, or where we seek to operate;
    • changes in our ability to retrofit vessels as FLNGs, including the availability of vessels to purchase and in the time it takes to build new vessels or convert existing vessels;
    • continuing uncertainty resulting from potential future claims from our counterparties of purported force majeure under contractual arrangements, including our future projects and other contracts to which we are a party;
    • our ability to close potential future transactions in relation to equity interests in our vessels or to monetize our remaining equity method investments on a timely basis or at all;
    • increases in operating costs as a result of inflation or trade policy, including salaries and wages, insurance, crew provisions, repairs and maintenance, spares and redeployment related modification costs;
    • claims made or losses incurred in connection with our continuing obligations with regard to New Fortress Energy Inc. (“NFE”), Energos Infrastructure Holdings Finance LLC (“Energos”), Cool Company Ltd (“CoolCo”), and Snam S.p.A. (“Snam”);
    • the ability of NFE, Energos, CoolCo, and Snam to meet their respective obligations to us, including indemnification obligations;
    • changes to rules and regulations applicable to FLNGs or other parts of the natural gas and LNG supply chain;
    • rules on climate-related disclosures promulgated by the European Union, including but not limited to disclosure of certain climate-related risks and financial impacts, as well as greenhouse gas emissions;
    • actions taken by regulatory authorities that may prohibit the access of FLNGs to various ports and locations; and
    • other factors listed from time to time in registration statements, reports or other materials that we have filed with or furnished to the Commission, including our annual report on Form 20-F for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission on March 27, 2025 (the “2024 Annual Report”).

    As a result, you are cautioned not to rely on any forward-looking statements. Actual results may differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless required by law.

    Responsibility Statement

    We confirm that, to the best of our knowledge, the unaudited consolidated financial statements for the three months ended March 31, 2025, which have been prepared in accordance with accounting principles generally accepted in the United States give a true and fair view of Golar’s unaudited consolidated assets, liabilities, financial position and results of operations. To the best of our knowledge, the report for the three months ended March 31, 2025, includes a fair review of important events that have occurred during the period and their impact on the unaudited consolidated financial statements, the principal risks and uncertainties and major related party transactions.

    May 27, 2025
    The Board of Directors
    Golar LNG Limited
    Hamilton, Bermuda
    Investor Questions: +44 207 063 7900
    Karl Fredrik Staubo – CEO
    Eduardo Maranhão – CFO

    Stuart Buchanan – Head of Investor Relations

    Tor Olav Trøim (Chairman of the Board)
    Benoît de la Fouchardiere (Director)
    Carl Steen (Director)
    Dan Rabun (Director)
    Lori Wheeler Naess (Director)
    Mi Hong Yoon (Director)
    Niels Stolt-Nielsen (Director)

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    The MIL Network

  • MIL-OSI China: China activates emergency response to floods in several regions

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

    BEIJING, May 27 — China’s flood control authorities on Tuesday activated Level-IV emergency response measures in Jiangxi and Guizhou provinces, as well as the Guangxi Zhuang Autonomous Region, in response to heavy rainfall affecting the country’s southern regions.

    The Ministry of Emergency Management said in a statement that Guizhou, areas south of the Yangtze River, and much of southern China are expected to face torrential rains and rainstorms over the next three days, citing forecasts from meteorological authorities.

    This round of rainfall will be the most intense since the beginning of the year, with some regions facing a high risk of disasters due to extreme downpours, according to the statement.

    It added that China’s State Flood Control and Drought Relief Headquarters has dispatched two work teams to guide local flood control efforts.

    The flood control and emergency management authorities have also called for intensified efforts to monitor rainfall and flooding, issue timely alerts, assess risks and hidden dangers, and deploy flood control and emergency rescue supplies in key regions in advance.

    China has a four-tier flood-control emergency response system, with Level I being the highest level.

    MIL OSI China News

  • MIL-OSI Asia-Pac: SJ attends legal forum in Xi’an

    Source: Hong Kong Information Services

    Secretary for Justice Paul Lam today led a delegation to attend the seventh Hong Kong Legal Services Forum in Xi’an to promote Hong Kong’s international legal and dispute resolution services to the legal sector and enterprises in Shaanxi and the neighbouring regions.

    Minister of Justice He Rong, CPC Shaanxi Provincial Committee Secretary Zhao Yide and over 800 local lawyers and legal sector representatives were also at the forum.

    With the theme of “Serving the Belt & Road Initiative: A New Chapter in Shaanxi-Hong Kong Co-operation”, the forum this year explored issues of interest to Shaanxi enterprises as they go global in handling trade, commerce and foreign investment under the Belt & Road Initiative.

    It also introduced the international legal and dispute resolution services which Hong Kong can offer as a “super connector” for cross-border transactions and as a centre for dispute resolution services.

    In his opening address, Mr Lam said Shaanxi and Hong Kong have maintained close exchanges and co-operation over the years. He mentioned that the governments of the two places signed the Strengthening Hong Kong/Shaanxi Co-operation Agreement last year, which covers legal and dispute resolution services.

    The Department of Justice of Shaanxi Province and the Hong Kong Special Administrative Region Government’s Department of Justice (DoJ) also signed the Framework Arrangement on Co-operation in Legal Services to Support the Belt & Road Initiative to strengthen the exchanges and co-operation in legal services and talent-nurturing between the two places to better facilitate legal services bodies in both places.

    Mr Lam pointed out that the forum represented a significant concrete action in implementing the agreement. He added that he looked forward to strengthening exchanges and co-operation with Shaanxi to serve the country’s needs.

    Yesterday, Mr Lam attended the graduation ceremony of the Hong Kong Common Law & Dispute Resolution Practical Training Course, organised by the Hong Kong International Legal Talents Training Academy with the assistance of the Shaanxi Province Lawyers Association.

    The programme is the first foreign-related legal talent training programme held by the academy in a Mainland city.

    A total of about 140 foreign-related lawyers, mainly from Shaanxi Province and the surrounding provinces, cities, autonomous regions and municipalities, participated.

    Mr Lam and the delegation also visited the Belt & Road Demonstration Zone for International Commercial Legal Services in Xi’an, and toured the Xi’an Arbitration Commission, Xi’an China-Europe Railway Express Assembly Center and the three centres of the Ministry of Justice.

    They learnt about Shaanxi’s efforts in fostering an international first-class business environment and the local demand for foreign-related legal services in the Belt & Road context, and discussed how Hong Kong’s international legal and dispute resolution services can provide relevant professional support.

    The seventh Hong Kong Legal Services Forum was jointly organised by the DoJ, the Department of Justice of Shaanxi Province and the Hong Kong & Macao Affairs Office of Shaanxi Provincial People’s Government, together with the Hong Kong Trade Development Council and the X’ian Municipal People’s Government as co-organisers.

    Mr Lam’s delegation comprised more than 120 representatives from the Hong Kong Bar Association, the Law Society of Hong Kong and other related sectors.

    He will conclude his visit this afternoon and return to Hong Kong. 

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: Tianjin Airlines Builds ‘Friendship Air Bridge’ Between China and Russia

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    BEIJING, May 26 (Xinhua) — A large passenger plane takes off smoothly against the backdrop of a cloudless blue sky and bright sunshine, heading for Moscow, the capital of Russia. Last month, Tianjin Airlines launched regular flights GS7941/42 to and from Moscow’s Sheremetyevo Airport on Tuesdays and Fridays. The route has not only brought the people of China and Russia closer together, but also injected new impetus into the development of tourism, business and cultural exchanges between the two countries.

    “2024-2025 have been declared the Cross Years of Culture between China and Russia, with hundreds of various events to be held. The peoples of our countries are becoming closer and closer to each other. Strengthening pragmatic cooperation in trade, education, sports and healthcare, as well as active mutual visits, are increasing demand for convenient air travel,” said Zhao Dingding, deputy chairman of the marketing committee of Tianjin Airlines, in an interview with the Tianjin Daily newspaper.

    According to him, the opening of this “Chinese-Russian express”, which meets the needs of the population, has created an effective “air bridge of friendship” for travelers and business representatives of the two countries.

    Before the launch of flights, the crews of Tianjin Airlines underwent special training: studying Russian culture, traditions and etiquette. There are stewards on board who speak Russian, and announcements are broadcast in two languages. In addition to traditional dishes such as beef with rice or chicken with noodles, the menu includes European cuisine: for example, cod with potatoes in Russian style.

    This autumn, Tianjin will host the SCO summit. As a local carrier and the “first window” for visitors to the city, Tianjin Airlines is preparing for the event. “We will decorate the cabins of our aircraft on the Moscow route with traditional Chinese ink landscapes and Russian nesting dolls. Thematic events and acquaintance of passengers with the history of the SCO and the sights of Tianjin, such as the Wudao area, the Italian quarter and the popular prints of the Yangliuqing village, are also planned,” said Song Jingjing, head of the cabin service service of Tianjin Airlines.

    “Interstate relations are built on mutual understanding between peoples, which in turn grows out of the convergence of aspirations of these peoples. Russia is a member of the SCO, and within the framework of the Belt and Road Initiative, cooperation between our countries continues to reach new heights,” said Li Rongkui, Chairman of the Board of Tianjin Airlines. He stressed that the airline, which is celebrating its 16th anniversary, will turn each flight into a “cultural living room in the sky”, strengthening Sino-Russian ties and contributing to the development of the SCO.

    MIL OSI Russia News

  • Sensex soars 640 points, Nifty crosses 25,000 mark on positive sentiment

    Source: Government of India

    Source: Government of India (4)

    The Indian stock market opened on a strong note Monday, buoyed by positive investor sentiment following India’s ascent to the fourth spot in the global economy rankings.

    By 9:32 a.m., the BSE Sensex had rallied 640.3 points, or 0.78%, to trade at 82,361.46. Meanwhile, the NSE Nifty was up 187.39 points, or 0.75%, at 25,040.45.

    The broader market also saw an upward trend. The Nifty Bank index gained 408.25 points, or 0.74%, reaching 55,806.50. The Nifty Midcap 100 rose 426.60 points to 57,114.35, while the Nifty Smallcap 100 advanced 145.90 points to 17,789.25, registering a 0.83% gain.

    Analysts attributed the early rally to the news of India becoming the world’s fourth-largest economy, calling it a morale booster for markets in the short term. Additionally, the Reserve Bank of India’s record dividend payout to the central government—exceeding budget estimates—is expected to aid in containing the fiscal deficit at 4.4% for FY26.

    “This, in turn, can help sustain the current low inflation trend and a declining interest rate environment, both of which are supportive of equity markets. While foreign institutional investors (FIIs) were strong buyers earlier in May, the trend has turned erratic recently, suggesting profit booking at higher levels,” said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    In the Sensex basket, top gainers included M&M, PowerGrid, NTPC, Tata Motors, ICICI Bank, SBI, Tech Mahindra, L&T, Asian Paints, and Axis Bank. Eternal was the only notable loser in early trade.

    In Asia, markets traded mixed. Indices in Bangkok, Seoul, and Tokyo were in the green, while markets in China, Hong Kong, and Jakarta saw declines.

    Globally, the last trading session in the U.S. ended lower. The Dow Jones Industrial Average closed at 41,603.07, down 256.02 points or 0.61%. The S&P 500 dropped 39.19 points (0.67%) to 5,802.82, and the Nasdaq declined 188.53 points (1.00%) to settle at 18,737.21.

    On the institutional investment front, FIIs were net buyers, purchasing equities worth ₹1,794.59 crore on May 23. Domestic institutional investors (DIIs) also bought stocks worth ₹299.78 crore.

    Looking ahead, key economic data such as India’s GDP figures, the U.S. Federal Reserve’s meeting minutes, and U.S. inflation numbers are expected to influence market sentiment this week.

    “Geopolitical uncertainties, the ongoing corporate earnings season, institutional capital flows, and the upcoming derivatives expiry are currently driving volatility in Indian equity markets,” said Devarsh Vakil, Head of Prime Research at HDFC Securities.

     
    -IANS
  • MIL-OSI Asia-Pac: Speech by CE at Asia Summit on Global Health (English only) (with photos/video)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Chief Executive, Mr John Lee, at the Asia Summit on Global Health today (May 26):
     
    Honourable Vice-minister Cao Xuetao (Vice-minister of the National Health Commission), Deputy Director Yin Zonghua (Deputy Director of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region (HKSAR)), Deputy Commissioner Li Yongsheng (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the HKSAR), Dr Peter Lam (Chairman of the Hong Kong Trade Development Council), distinguished guests, ladies and gentlemen,
     
         Good morning. I am delighted to join you all for this year’s Asia Summit on Global Health. Delighted to welcome our friends from around the world to Hong Kong.
     
         Global health starts with unity.  This spirit of collaboration is as important today as it was in 2021, when this Summit was first launched. It was launched under the cloud of the global pandemic. We don’t need any reminding of the dark days of the COVID-19 outbreak. But it is worth recalling that those difficult times also sparked a remarkable period of healthcare innovation and co-operation. These positive trends continue, here today, at this Summit.
     
         I thank all who are attending the Summit – over 2 800 experts from some 40 countries and regions. You are medical professionals, policymakers, academics, heads of pharmaceutical and health tech enterprises, and experts in many other fields.
     
         You are here to explore innovative solutions to chronic diseases, healthcare inequities and the challenges of an ageing population. To share knowledge and explore the promising opportunities in medicine, and medical technology, across Asia and beyond.
     
         These topics, and more, will be under the microscope, during the next two days of high-level panel discussions, networking and deal-making sessions. From a global perspective, the Director-General of the World Health Organization will share with us his views by video in a few minutes.
     
         Under the theme of “Fostering Global Collaboration for a Shared Future”, this Summit reaffirms Hong Kong’s pivotal role as a leading health innovation hub in the region.
     
         Under the “one country, two systems” principle, Hong Kong enjoys unique connectivity with both Mainland China and the world. As the world’s freest economy and one of the top three international financial centres, we offer an efficient, open and fair business environment with robust intellectual property protection. We maintain free flows of information, capital, goods and talent. We are also emerging as a leading hub for scientific innovation, technological advancement and world-class education.
     
         Hong Kong is the only city in Asia with as many as five universities ranked in the top 100 globally. We are home to two of the world’s top 40 medical schools, and eight State Key Laboratories in life and health disciplines. This, and more, provides fertile ground for world-class scientific research and medical technology innovation.
     
         Under “one country, two systems”, we also enjoy strong support of national strategies, coupled with ever-closer connectivity with our country, China.
     
         The connectivity is fully evident at the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone. Straddling our boundary with the neighbouring city of Shenzhen, the Co-operation Zone comprises the Hong Kong Park and the Shenzhen Park. It pools together the technological strengths of our two cities.
     
         Our respective, and collective, strengths are recognised internationally, I’m pleased to add. In its annual Global Innovation Index, the World Intellectual Property Organization has ranked the Shenzhen-Hong Kong-Guangzhou science and technology cluster second, globally, for five consecutive years.
     
         It helps that we are core cities in the Guangdong-Hong Kong-Macao Greater Bay Area, or the GBA, a cluster city development that brings together 11 cities in southern China. It has a population of some 87 million, and a GDP that closely rivals the world’s 10th-largest economy.
     
         Riding on this synergy with other GBA cities, the Hong Kong Park of the Co-operation Zone is in good shape for its operational phase later this year. We will provide over US$250 million to support the InnoHK research clusters to set up there, and another US$25 million to assist start-ups engaging in life and health technology.
     
         The InnoHK clusters, let me add, now count 29 research centres and laboratories focusing on health tech, artificial intelligence and robotics, each formed by partnering a Hong Kong institution with a Mainland or international institution.
     
         In other news from the Co-operation Zone, the Greater Bay Area International Clinical Trial Institute is now up and running in the Hong Kong Park.
     
         And, just last week, the Institute started a collaboration initiative on clinical trial with our two medical schools. In more than 70 clinical trial projects expected to be launched in the coming year, the Institute will help to co-ordinate in cross-boundary clinical trials, connection with GBA institutions, and more. Well, that’s what I call a healthy outcome!
     
         Another key healthcare collaboration is on the registration for drugs and medical devices. Under a special measure of the National Medical Products Administration, several healthcare institutions in Mainland cities of the GBA may now use drugs and medical devices used in Hong Kong, but not yet registered on the Mainland. This accelerated pathway allows for the access of innovative medicines and devices into the Mainland market.
     
         We are now working with Shenzhen to establish a Real-World Study and Application Centre, by year’s end, to promote co-operation on the sharing of health and medical data. It would speed up the approval and registration of new drugs in both places.
     
         Hong Kong is committed to establishing its own internationally recognised authority for the registration of drugs and medical devices. We have implemented the “1+” mechanism for the registration of new drugs, vaccines and advanced therapy products. The mechanism allows for a drug to be registered in Hong Kong, once it has been registered with a reference drug regulatory authority, and supported by local clinical data.
     
         These and other efforts will drive the development of Hong Kong into an international health and medical innovation hub. More importantly, they will expedite patients’ access to advanced diagnostic and treatment services.
     
         To boost Hong Kong’s research prowess, we have launched a subsidy to support local universities in setting up health technology research institutes. With an allocation of some US$770 million, the programme will foster academic collaboration in life and health sciences research.
     
         Beyond funding research, let me add, we are also investing into developing our research talent. As a result, publicly funded PhD places increased by about one-third to 7 200 over the past two academic years. Places under the Hong Kong PhD Fellowship Scheme also saw a one-third rise.
     
         We endeavour to ensure the timely, and efficient, commercial returns from Hong Kong’s excellent research outcomes, including healthcare innovations. For this, we have set aside over US$1.2 billion for the Research, Academic and Industry Sectors One-plus Scheme, and another US$1.2 billion for the New Industrialisation Acceleration Scheme. These Schemes support enterprises to adopt new innovations, and set up smart productions facilities, respectively.
     
         Ladies and gentlemen, in fighting a virus, isolation is vital – quarantining the infected to protect the healthy. But in tackling healthcare, trade, and other societal issues, isolation is not the answer. While walls may stem the spread of a disease, they stifle free and open exchange, which is the lifeblood of prosperity.

         With unilateralism and protectionism sweeping the world like a contagion, we should remember a fundamental truth: Trade thrives on openness. Much as how a human body can only stay healthy when its interconnected systems work in harmony, our global economy can only prosper with an ecosystem of trust, collaboration and multilateralism. For in trade, as in health, resilience lies not in isolation, but in collaboration. And Hong Kong is here to build meaningful partnerships and innovative co-operations, with all of you.
     
         My thanks to the Hong Kong Trade Development Council for jointly organising this Summit with the HKSAR Government. I encourage all of you to visit the Hong Kong International Medical and Healthcare Fair, another key event of this International Healthcare Week, over the next three days.
     
         As the saying goes, “Laughter is the best medicine”. Therefore, while this Summit focuses on the serious topic of global health, I would like to see all of you rejoice here and participate in a happy mood. Find time, also, to relax and enjoy the colourful cultural experiences here in our world city.
     
         I wish you all a very successful Summit, a delightful stay in Hong Kong and, of course, the best of health!
     
         Thank you.

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: An event dedicated to “Anti-fascist war in works of art” was held in Shanghai

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    BEIJING, May 26 (Xinhua) — A themed event titled “Anti-Fascist War in Artworks” was held in Shanghai recently to commemorate the 80th anniversary of the victory of the Chinese People’s War of Resistance Against Japanese Aggression, the Great Patriotic War and the World Anti-Fascist War, Zhongxinwang reported.

    The event, organized by the Shanghai Association of Chinese Studied in Europe and America, was attended by Chinese and foreign guests, including representatives of the Russian Consulate General in Shanghai and the Belarusian Consulate General in Shanghai, as well as students from Shanghai Cooperation Organization (SCO) member states studying in Shanghai.

    In honor of the great victory in the anti-fascist war, the event included talks and artistic performances, and an exhibition dedicated to the theme of victory, peace and friendship was opened.

    The exhibition featured sculptures and oil paintings created by graduates of the Ilya Repin St. Petersburg Academy of Arts and the V. I. Surikov Moscow State Academic Art Institute at the Russian Academy of Arts.

    Xiong Jian, executive vice-chairman of the Shanghai Association of Chinese Studied in Europe and America, said that holding this event is of great significance. It promotes cultural exchange and mutual learning, and emphasizes the importance of remembering history and preserving peace.

    According to him, the victory in the world anti-fascist war is the result of international cooperation. This event is designed to help people realize that in the face of global challenges, only through joint efforts can countries overcome difficulties.

    As reported, in August this year, the Shanghai Association of Chinese Studied in Europe and America, together with the Shanghai Artists Association and other organizations, will also hold an art exhibition dedicated to the 80th anniversary of the victory in the Chinese People’s War of Resistance Against Japanese Aggression and the victory in the World Anti-Fascist War. -0-

    MIL OSI Russia News

  • MIL-OSI Russia: Australian PM condemns Israel for restricting aid supplies to Gaza

    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

    CANBERRA, May 26 (Xinhua) — Australian Prime Minister Anthony Albanese on Monday condemned Israel’s curbs on aid supplies to the Gaza Strip, calling it “unacceptable.”

    The blockade of food and supplies to people “who need it” in Gaza was “outrageous”, Mr Albanese said, adding that he had made Australia’s position clear to the Israeli government.

    “We believe that Israel’s justifications and explanations are completely untenable and lack credibility,” he told reporters in Canberra.

    “People are starving. It is outrageous that a democratic state is restricting supplies. This is my clear position,” the head of government said. –0–

    MIL OSI Russia News

  • MIL-OSI Russia: Iran to Continue Enriching Uranium on Home Soil – Foreign Minister

    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

    TEHRAN, May 26 (Xinhua) — Iran welcomes the launch of a uranium enrichment center in the region, but will continue enriching uranium on its own soil, Iranian Foreign Minister Abbas Araghchi said on Sunday.

    Speaking at a meeting with members of the Iranian parliament’s National Security and Foreign Policy Committee, A. Araghchi said that regarding the indirect talks between Iran and the US, the Iranian side has never left the negotiating table and will continue the diplomatic path, but will not negotiate under pressure, the official IRNA news agency reported.

    He also warned of a “tough” response if France, Germany and Britain triggered the retaliatory mechanism and reimposed sanctions.

    The mechanism is part of the 2015 nuclear deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), signed by Iran and six countries — Britain, China, France, Germany, Russia and the United States. It allows the other parties to reimpose international sanctions if Tehran fails to comply with the agreement.

    Since April, Iran and the United States, brokered by Oman, have held five rounds of proximity talks on Tehran’s nuclear program and the lifting of U.S. sanctions, three in Muscat, Oman, and two in Rome.

    In recent days, US officials have repeatedly demanded that Iran completely stop enriching uranium, but Tehran has strongly opposed it. –0–

    MIL OSI Russia News

  • MIL-OSI Russia: Breaking: Chinese Premier Arrives in Malaysia to Attend ASEAN-GCC-China Summit

    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

    KUALA LUMPUR, May 26 (Xinhua) — Chinese Premier Li Qiang arrived in Kuala Lumpur on Monday to attend the ASEAN (Association of Southeast Asian Nations)-GCC (Gulf Cooperation Council)-China summit.

    The first trilateral summit was proposed by Malaysia, which holds the ASEAN presidency this year. Li Qiang visited Indonesia before arriving in Kuala Lumpur. –0–

    MIL OSI Russia News

  • MIL-OSI Asia-Pac: Taiwan’s MOEA Announces: DOIT to Showcase Three NT$100 Million Startups at InnoVEX 2025

    Source: Republic of China Taiwan

    The Department of Industrial Technology under Taiwan’s Ministry of Economic Affairs (MOEA) led 20 research-driven startup teams to InnoVEX, one of Asia’s leading innovation and startup exhibitions. At the event, they unveiled the Taiwan Research-Institute Entrepreneur Ecosystem (TREE) Pavilion, showcasing advanced innovations in AI, ICT, semiconductors, smart mobility, biotech, healthcare tech, green tech, and the circular economy.

    Three startups have achieved the NT$100 million revenue benchmark:

    -FREE Bionics: Has tripled its revenue in the past four years and secured over NT$600 million in funding.
    -KopherBit: On track to exceed NT$100 million in revenue by 2025.
    -GasolineAI: Secured an order worth NT$100 million in its first year.

    Additionally, the 2025 TREE Award Ceremony took place on May 22, celebrating five promising startup teams from research institutions. Experts selected them for their achievements in translating research innovations into market successes.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: MOEA Develops World-Leading B5G NTN Base Station System, Partners with MediaTek and Chunghwa Telecom to Enable Seamless Satellite Communication Upgrades for Network Equipment

    Source: Republic of China Taiwan

    At COMPUTEX 2025, the MOEA unveiled its Tech Hub to showcase 30 innovative technologies, highlighting the world-leading B5G/6G Non-Terrestrial Network (NTN) base station system and bringing together leading network communication companies and major R&D institutes including ITRI, MIRDC, TTRI, and ARTC. In partnership with MediaTek and Chunghwa Telecom, the MOEA successfully completed multi-orbit satellite communication trials. This breakthrough enables direct satellite connectivity via software upgrades, eliminating the need for hardware replacement-a game-changer for remote and offshore connectivity. The solution received global attention at this year’s MWC Barcelona.

    According to the MOEA, Taiwan plays a critical role in the global ICT and AI ecosystem. To stay ahead in next-generation communications and AI-driven manufacturing, the ministry has launched 50 AI pilot production lines, which are already being applied in sectors such as energy storage and smart manufacturing. One notable example is the POXA Energy Management System, which uses AI for intelligent scheduling to optimize green energy storage. The system is slated to spin off into a startup by 2025 to expand its reach.

    The Tech Hub showcases innovations across five key areas: AI services, immersive technologies, AI for manufacturing, sustainable green energy, and next-generation communication. Highlighted solutions include an AI-powered medical logistics robot at Kaohsiung Veterans General Hospital; a smart knee brace with electrostimulation to accelerate rehabilitation for the elderly; photo-realistic AI 3D modeling technology that creates high-fidelity models using only a smartphone; and a transparent display open architecture system designed for smart libraries and hybrid digital-physical environments.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: MOEA Minister Kuo Visits Texas to Promote Supply Chain Cooperation

    Source: Republic of China Taiwan

    On May 15, Minister of Economic Affairs Jyh-Huei Kuo attended the grand opening ceremony of GlobalWafers’ new plant in Sherman, Texas. Then he traveled to Houston to visit Foxconn’s server plant and hosted business roundtables with Houston-based Taiwanese business leaders.

    Minister Kuo wanted to gain a better understanding of Taiwan’s outbound investment in Texas, explore areas where the Ministry’s support may be needed, and listen to the business leaders’ viewpoints on enhancing U.S.-Taiwan economic and trade relations.

    On the following day, Minister Kuo went to Austin, Texas where he met with Governor Greg Abbott and Texas House Speaker Dustin Burrows. State Representative Angie Chen Button had also invited Mr. Kuo to attend a session of the Texas House of Representatives, where Speaker Burrows formally recognized his contributions to strengthening economic and trade ties between Taiwan and Texas.

    Last July, Minister Kuo signed the Taiwan-Texas Economic Development Statement of Intent (EDSI) with Texas Governor Greg Abbott. The agreement aims to enhance collaboration in fields such as semiconductors, electric vehicles, energy resilience, and innovative technologies. Minister Kuo paid a return visit to Governor Abbott focused on implementing this EDSI and further promoting investment and economic partnership between both sides.

    During the meeting, Governor Abbott highlighted Texas’s business-friendly environment, including low tax rates, reasonable investment regulations, a high-quality workforce, and comprehensive vocational training programs.

    On the other hand, the Taiwan Minister provided updates on Taiwan’s outbound investment in Texas and MOEA plans to set up an investment and trade center in Texas later this year. They also exchanged views on how to develop a more resilient Taiwan–Texas supply chain partnership through establishing a science and industry park and strengthening cooperation in semiconductors and AI areas.

    In 2024, Taiwan was Texas’s fourth-largest import source, with a total trade volume of $25.58 billion—a 19.91% year-over-year growth.

    MIL OSI Asia Pacific News

  • MIL-OSI China: Chinese premier lands in Malaysia for ASEAN-GCC-China Summit

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

    KUALA LUMPUR, May 26 — Chinese Premier Li Qiang arrived in Kuala Lumpur on Monday to attend the ASEAN (the Association of Southeast Asian Nations)-GCC (the Gulf Cooperation Council)-China Summit at the invitation of Malaysian Prime Minister Anwar Ibrahim.

    Li was welcomed by Malaysian Transport Minister Anthony Loke Siew Fook and Chinese Ambassador to Malaysia Ouyang Yujing, among others, at Kuala Lumpur International Airport.

    Prior to his arrival in Malaysia, ASEAN’s rotating chair, Li paid an official visit to Indonesia.

    MIL OSI China News

  • MIL-OSI China: China sets action plan for digital, intelligent supply chains

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

    BEIJING, May 26 — China rolled out an action plan on Monday to accelerate the development of digital and intelligent supply chains as part of broader efforts to modernize them.

    The action plan, jointly issued by the Ministry of Commerce and seven other departments, advocates adopting cutting-edge technologies such as artificial intelligence, Internet of Things and blockchain to drive digitalization, intelligentization and visualization of supply chains.

    The plan vows to improve the agricultural supply chains, develop intelligent manufacturing supply chains, strengthen supply chain integration in the wholesale sector, optimize retail supply chains, and reduce logistics costs, according to the commerce ministry.

    It comes as the country is stepping up efforts to improve the systems for enhancing the resilience and security of industrial and supply chains, promote full integration between the real economy and the digital economy, and encourage enterprises to apply digital and intelligent technologies to transform and upgrade traditional industries.

    The plan aims to establish replicable models for building digital and intelligent supply chains, with deeply embedded, intelligent and self-supporting systems operational across the country’s major industries and key fields by 2030.

    It also targets nurturing about 100 national leading enterprises in the digital and intelligent supply chain sector by 2030.

    MIL OSI China News

  • MIL-OSI China: Cannes roundtable explores new era for Chinese cinema

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

    A roundtable on “Exploring China’s Film Narratives in a New Era” brought together Chinese and international filmmakers at the Marché du Film during the 78th Cannes Film Festival, aiming to strengthen cross-cultural dialogue and boost the global appeal of Chinese cinema.

    (From left) Cedric Behrel, Chen Sicheng, Chen Yu and moderator Silvia Wong join the panel roundtable “Exploring China’s Film Narratives in a New Era” during the 78th Cannes Film Festival in Cannes, France, May 20, 2025. [Photo courtesy of China Film Association]

    Deng Guanghui, executive president of the China Film Association, noted in his opening remarks that 2025 marks the 120th anniversary of Chinese cinema and highlighted the industry’s evolution from technical innovation to greater cultural depth.

    “In recent years, supportive policies have driven both creative and industrial growth. Chinese filmmakers are advancing aesthetic traditions while developing unique styles in content, technology and global outreach. They continue to tell original, powerful stories to audiences worldwide,” Deng said.

    China is home to the world’s second-largest film market, Deng said, noting that the government is encouraging more crossover initiatives such as “film plus tourism” and “film plus consumer experiences” to grow the market and promote global development.

    “Chinese cinema will remain open and inclusive, working with international filmmakers to tell stories of our shared future,” he said.

    The panel featured renowned filmmaker Chen Sicheng, screenwriter and Peking University professor Chen Yu, and Cedric Behrel, managing director of Trinity CineAsia, as keynote speakers.

    Chen Sicheng, creator of the hit “Detective Chinatown” franchise, shared insights into the series’ success, saying it has become increasingly difficult to satisfy audiences with single-genre films as new formats such as gaming and social media gain influence.

    “Filmmakers must adapt,” he said. “The ‘Detective Chinatown’ IP blends thriller, comedy and action while reflecting contemporary society. Both form and content need to resonate equally with Chinese audiences.”

    “Chinatown is a unique window and symbol of Chinese culture, especially abroad,” Chen said. “I wanted to tell a story about distinctly Chinese detectives on adventures overseas. Through this film, I hope international audiences can see Chinese cinema evolve. Did I expect its success? I was confident – good films will always find their audience.”

    Chen also revealed plans to set the next “Detective Chinatown” installment in London, but after visiting France, he is now considering filming in Paris and expanding the story across Europe.

    Screenwriter Chen Yu, known for his work on Zhang Yimou’s acclaimed films such as “Full River Red” and “Under the Light,” discussed trends among Chinese audiences. “Chinese viewers are paying more attention to the narrative itself. But this isn’t unique to China – we’re also seeing a global return to storytelling as a central focus,” Chen said. “Audiences generally hope to draw emotional and sentimental strength from films.”

    Cedric Behrel, whose company has handled numerous Chinese releases abroad, including the recent animated juggernaut “Ne Zha 2,” said China’s vast domestic market and its capacity for producing large-scale, high-quality films give it a distinct advantage in delivering the big-screen experiences audiences desire. He noted that as people worldwide spend more time on personal screens, Chinese cinema has an opportunity to stand out.

    He also pointed to China’s rich cultural heritage as a deep source of stories, noting that films like “Ne Zha 2” must balance staying true to local mythology while appealing to global audiences. For Behrel, the appeal lies in demonstrating that Chinese films can compete with Hollywood blockbusters and leading animation studios like Disney, Pixar and Japan’s anime industry.

    (From left) Chen Yu, Deng Guanghui, Chen Sicheng and Cedric Behrel pose for a photo after the panel roundtable at the 78th Cannes Film Festival in Cannes, France, May 20, 2025. [Photo courtesy of China Film Association]

    Chen Sicheng spoke about his role in supporting young talent. He said film industrialization goes beyond visual effects–driven blockbusters, describing it as a systematic process that includes scriptwriting, production, post-production and marketing. Chen sees his company and his role as managing this pipeline to help young Chinese directors become more professional and to provide support where needed.

    Discussing his upcoming film “Malice,” which he produced and wrote and is set for release in July, Chen said the story addresses contemporary issues such as online public opinion and cyberbullying.

    Chen said problems on the internet are a global issue, not unique to China. Since the 1990s, the internet has driven significant progress but also brought challenges, as voices of authority have been drowned out and irrational opinions have come to dominate online discussions, distorting perspectives on politics, culture and the future of humanity.

    “While ‘Malice’ can’t fix these problems, films must reflect their time,” Chen said. “This movie will serve as a time capsule of the digital age and preserve our collective memory of these critical years.”

    Chen Yu also addressed another trending topic: artificial intelligence. He said AI will achieve significant progress and, as its internal systems become more complex, it may eventually develop a form of intelligence. While he views AI as a tool capable of creating many things, he emphasized that humans remain the true measure of all things. Artistic creation, he said, is driven by human flaws and hesitation – qualities that AI, as a rational tool, cannot replicate.

    “When art touches the softest parts of the human soul, AI cannot replace it,” he stressed.

    MIL OSI China News