Category: China

  • MIL-OSI China: US consumer confidence falls for 4th consecutive month

    Source: China State Council Information Office

    U.S. consumer confidence dropped for a fourth consecutive month in March, showed a survey released by business research group the Conference Board on Tuesday.

    The group said its consumer confidence index further sank to 92.9 in March, lower than the forecast consensus of 94.2.

    “Consumers’ expectations were especially gloomy, with pessimism about future business conditions deepening and confidence about future employment prospects falling to a 12-year low,” said Stephanie Guichard, the group’s senior economist of global indicators.

    The Expectations Index, which is based on consumers’ short-term outlook for income, business and labor market conditions, dropped 9.6 points to 65.2, the lowest level in 12 years and well below the threshold of 80 that usually signals a recession ahead, said the release.

    Guichard noted that consumers’ optimism about future income largely vanished, which suggests that worries about the economy and labor market have started to spread into consumers’ assessments of their personal situations.

    Consumers turned negative about the stock market for the first time since the end of 2023 likely in response to recent market volatility, Guichard added.

    In March, only 37.4 percent of consumers expected stock prices to rise over the year ahead, down nearly 10 percentage points from February and 20 percentage points from the high reached in November 2024, the release said.

    The monthly survey is based on an online sample and the cutoff date for the latest preliminary results was March 19. 

    MIL OSI China News

  • MIL-OSI China: Shanghai set to host final of 10th Chinese Theatre Award

    Source: China State Council Information Office 3

    The final competition of the 10th Chinese Theatre Award — Plum Performance Award, will be held in Shanghai from May 8 to 21.

    Hailed as the highest honor for Chinese theater performing arts, the award is jointly sponsored by the China Federation of Literary and Art Circles, the China Theatre Association and the publicity department of Shanghai. This is the first time the event is being held in Shanghai in the award’s 42-year history.

    A total of 17 shortlisted productions will be presented in Shanghai, covering a wide variety of 11 types of traditional Chinese folk operas, as well as drama and dance theater shows. This year a total of 62 outstanding drama actors entered the preliminary evaluation, of whom 17 were shortlisted for final evaluation.

    “We believe theater art should serve the people, and hope the award-winning productions could make more shows, and be seen by the wider public,” according to Chen Yongquan, deputy chairman of the China Theatre Association. “For this reason, we want to give priority to productions with simple stage designs, where the theatrical effect relies heavily on the capabilities of the actors, so that the award-winning productions can tour extensively and reach more audiences.”

    Fifteen winners of the Plum Performance Award will be announced on May 21, alongside five winning scripts for the 26th Cao Yu Theatrical Literature Award.

    MIL OSI China News

  • MIL-OSI China: Protection, utilization bring modern touch to legacy of Neolithic culture

    Source: China State Council Information Office 3

    Zhang Zhijia, a 38-year-old volunteer at Chifeng Museum in north China’s Inner Mongolia Autonomous Region, leaves home at 8:30 a.m. to share stories about the Hongshan culture with museum visitors.

    Almost at the same time, Li Jiawei, a 24-year-old graduate student who studies cultural relics at Chifeng University in the city of Chifeng, walks from his dormitory to the library to research materials for future archaeological projects.

    And 45-year-old Guo Lei, who is in charge of Songshanzhai, a cultural and creative company under the Chifeng culture and tourism group, has already engaged in discussions with his colleagues on the designs of refrigerator magnets inspired by the Hongshan culture.

    Despite being from different age groups and living different lives, they all share a commitment to the preservation and utilization of the Hongshan culture, which was an important archaeological culture during the Neolithic Age.

    The culture spans three regions: the west of Liaoning Province, the north of Hebei Province and the east of Inner Mongolia. Chifeng in Inner Mongolia has over 700 known Hongshan culture relics sites.

    “My hometown, Chifeng, is both the birthplace of the Hongshan culture and the place where it was named,” Zhang said.

    The city’s northeastern suburbs are marked by a red mountain, Wulanhad, which means “red mountain” in Mongolian. It is from this mountain that the city and culture took their names.

    Since childhood, Zhang has been fascinated by jade artifacts from the Hongshan culture, such as jade dragons and jade silkworms.

    “Some of the jade artifacts show slight markings made by cowhide ropes during their polishing process, which makes me imagine scenes of the Hongshan ancestors crafting these objects. It feels like touching history,” he said.

    Motivated by this sentiment, he signed up to volunteer at Chifeng Museum, and he hopes that more young people can gain knowledge and joy through learning about history.

    “Volunteers are both narrators and learners,” he said. “Recently, many visitors have been asking about the newly excavated jade dragons from last year. The Hongshan artifacts are ‘updating,’ and our knowledge must also be continuously updated.”

    In 2024, three jade dragons from the Hongshan culture were unearthed — the largest number of such artifacts found in recent years. Among them was the largest jade dragon ever discovered.

    The object, measuring 15.8 centimeters in length, 9.5 centimeters in width and 3 centimeters in thickness, was excavated from a stone tomb in Yuanbaoshan in Chifeng’s Aohan Banner. It provides valuable new insights into the study of this ancient civilization.

    The piece has become a highlight of exhibitions and academic lectures, and it has also inspired designs in cultural and creative industries.

    Guo has been involved in the development of cultural and creative products inspired by the Hongshan culture for four years. Together with his colleagues, he has launched several products based on Hongshan artifacts, and is planning to release new refrigerator magnets inspired by the culture.

    “We design cultural and creative products that not only have high aesthetic value but also boast fine details and rich heritage, and we hope they can serve as a window through which visitors can understand the Hongshan culture,” Guo said.

    Li shares a similar hope, and looks forward to uncovering more secrets of the Hongshan culture through archaeological work.

    “Archaeology is a way to engage in dialogue with the ancestors, as each jade artifact and pottery shard may contain their stories,” Li said, adding that in the future, he wants to share more stories of the Hongshan culture with others.

    Today, the legacy of the Hongshan culture continues in modern life. In Chifeng, visitors can participate in themed research activities, watch performances, and even enjoy Hongshan culture-inspired feasts at local restaurants.

    “We dig into historical research and inherit fine traditional Chinese culture, enabling cultural empowerment for industrial development,” said Zhang Guohua, Chifeng’s vice mayor.

    MIL OSI China News

  • MIL-OSI China: US stocks inch higher despite lower consumer confidence

    Source: China State Council Information Office 3

    U.S. stocks ended higher on Tuesday, extending gains from the previous session as optimism over a potential narrowing of U.S. tariffs continued to support investor sentiment.

    The Dow Jones Industrial Average inched up 4.18 points or 0.01 percent to 42,587.5, while the S&P 500 rose 9.08 points or 0.16 percent to 5,776.65. The Nasdaq Composite gained 83.26 points or 0.46 percent to 18,271.85, marking its third consecutive day of gains.

    Among the 11 primary S&P 500 sectors, seven closed higher, with communication services up 1.43 percent and consumer discretionary rising 0.98 percent leading the advances. Utilities fell 1.61 percent and healthcare declined 1.29 percent, making them the biggest laggards.

    Investors largely brushed off March’s weak consumer confidence report, which showed a sharp decline in U.S. consumers’ short-term outlook on income, business conditions, and employment. The Conference Board’s consumer confidence index dropped to 92.9, missing expectations of 93.5. The measure of future expectations fell to 65.2, the lowest in 12 years, signaling potential recession risks.

    Tuesday’s action follows the prior session’s sharp gains for all three major averages after U.S. President Donald Trump said he would give “a lot of countries breaks” when it comes to reciprocal tariffs expected on April 2.

    “Sentiment continues to wane among investors, consumers and businesses as economic concerns and economic policy uncertainty takes its toll,” said Bret Kenwell, U.S. investment analyst at eToro. “Until there’s more certainty on the tariff and macro front, sentiment and confidence remain vulnerable.”

    David Rubenstein, co-founder and co-chairman of the Carlyle Group, said tariffs could slow down the economy, but it wouldn’t trigger recession. “Tariffs have done a pretty good job of getting people’s attention around the world, getting people’s attention in the business community as a negotiating technique,” he said Tuesday. “Whether you implement them across the board, all kinds of tariffs everywhere … that might be more complicated to do and might have some inflationary impact.”

    In the bond market, the 10-year Treasury yield slipped to 4.315 percent as of 4:18 p.m. EDT, down from 4.33 percent at Monday’s close and an intraday peak of 4.37 percent, its highest in over a month.

    Mega-cap tech stocks extended Monday’s gains, with Tesla climbing another 3.45 percent despite continued weakness in European sales. Apple, Microsoft, Alphabet, Amazon, and Meta Platforms also advanced, while chipmakers Nvidia and Broadcom saw slight declines.

    Looking ahead, investors are awaiting earnings reports from Lululemon, GameStop, and Dollar Tree later this week. 

    MIL OSI China News

  • MIL-OSI China: Chinese companies to provide green energy solutions in South Africa

    Source: China State Council Information Office 3

    Hisense South Africa and China National Building Material Group (CNBM) on Tuesday signed a strategic cooperation agreement to provide smart energy solutions in South Africa.

    The deal was inked in Johannesburg, where the Solar and Storage Live Africa 2025, one of Africa’s largest renewable energy exhibitions, is currently taking place.

    After the signing ceremony, Jiang Fei, general manager of CNBM Overseas Cooperation, told Xinhua the new partnership will help South Africans access energy-efficient products.

    “We are looking at providing new renewable solutions to help address the electricity shortages in South Africa. We see a great potential market for many of our smart solutions,” said Jiang.

    She said Hisense South Africa and CNBM will provide smart meters, charging stations, energy storage solutions and other smart solutions for South Africa’s transition to clean energy.

    Starting on Tuesday, the Solar and Storage Live Africa 2025 will run until Thursday, with many Chinese companies, including Huawei, showcasing their products and solutions. 

    MIL OSI China News

  • MIL-OSI China: Trump stands by national security adviser despite war plan leak

    Source: China State Council Information Office 3

    U.S. President Donald Trump on Tuesday stood by his national security adviser, Mike Waltz, after The Atlantic’s editor-in-chief was accidentally added to Signal group chat where high-level national security officials were discussing military plans in Yemen.

    “Michael Waltz has learned a lesson, and he’s a good man,” Trump said Tuesday in a phone interview with NBC News.

    When asked what he was told about how Goldberg came to be added to the Signal chat, Trump said, “It was one of Michael’s people on the phone. A staffer had his number on there.”

    Trump also said Goldberg’s presence in the chat had “no impact at all” on the military operation against Houthi forces in Yemen.

    Trump’s remarks came one day after Jeffrey Goldberg, the editor-in-chief of The Atlantic, said in an article on Monday that senior U.S. national security officials recently added him to a Signal group chat discussing a military strike on Houthi forces in Yemen. He said he became aware of the airstrike plan about two hours before the U.S. operation.

    “I have never seen a breach quite like this,” said Goldberg in the article.

    When asked by media about this, Defense Secretary Pete Hegseth said Monday that “Nobody was texting war plans. And that’s all I have to say about that.” The defense secretary also lashed out at Goldberg, calling him “a deceitful and highly discredited so-called ‘journalist’ who’s made a profession of peddling hoaxes time and time again.”

    The incident has sparked grave concerns and harsh criticism.

    “If true, this story represents one of the most egregious failures of operational security and common sense I have ever seen,” Jack Reed, the Senate Armed Services Committee’s top Democrat, said in a statement.

    “Military operations need to be handled with utmost discretion, using approved, secure lines of communication, because American lives are on the line. The carelessness shown by President Trump’s Cabinet is stunning and dangerous. I will be seeking answers from the administration immediately,” said the Democratic senator.

    Senate Minority Leader Chuck Schumer described the incident as “amateur behavior” and called for “a full investigation into how this happened and the damage it created.”

    “This kind of security breach is how people get killed. How our enemies take advantage. How our national security falls into danger. These people are clearly not up for the job,” he posted on X. 

    MIL OSI China News

  • MIL-OSI China: Turkish police arrest over 1,400 in protests over Istanbul mayor’s detention

    Source: China State Council Information Office 3

    Turkish riot police are seen during a demonstration in Ankara, Türkiye, on March 25, 2025. [Photo/Xinhua]

    Turkish security forces have arrested 1,418 suspects since the start of protests last week against the detention of Istanbul Mayor Ekrem Imamoglu, Interior Minister Ali Yerlikaya said Tuesday.

    There are currently 979 suspects in custody, while 478 individuals will be referred to judicial authorities, Yerlikaya said on social media platform X.

    Meanwhile, Ozgur Ozel, chairman of the main opposition Republican People’s Party (CHP), said he will conclude his rallies in Istanbul’s Sarachane district as of Tuesday evening.

    Tens of thousands of Turks have taken to the streets since March 19 after Imamoglu was detained on charges of graft and terror ties. Imamoglu, from the CHP, is considered Turkish President Recep Tayyip Erdogan’s main rival in the next presidential elections.

    Erdogan on Monday blamed the CHP for recent domestic protests that have escalated into what he called a “movement of violence,” saying CHP and its supporters should be responsible for “injured police officers, vandalized shops, and damaged public property.”

    MIL OSI China News

  • MIL-OSI China: Russia, US agree to ensure implementing Black Sea initiative

    Source: China State Council Information Office 3

    Russia and the United States have agreed to ensure the implementation of the Black Sea Initiative, provided that sanctions were eased on Russia’s agricultural and food trade, the Kremlin said Tuesday.

    The Kremlin said the agreement includes ensuring the safety of navigation in the Black Sea, the non-use of force, and preventing commercial ships from being used for military purposes, with inspections in place to enforce this.

    It also added that the United States will help in restoring Russia’s access to global markets for agricultural and fertilizer exports, lowering shipping insurance costs, and improving access to ports and international payment systems.

    The agreement will enter into force after a series of sanctions and restrictions related to its agricultural and food trade were lifted, the Kremlin noted.

    The move would include lifting Western sanctions on the Russian Agricultural Bank, which services agricultural businesses, and reconnecting the bank to the SWIFT international messaging system.

    Russia has also listed in the conditions the removal of restrictions on its food and fertilizer producers and exporters, on the servicing of related Russian-flagged vessels in ports, and on the related agricultural machinery supplies to Russia.

    The Kremlin statement came after Russian and U.S. representatives wrapped up their Monday’s talks in Riyadh, capital of Saudi Arabia, where both sides sought arrangements for the safety of navigation in the Black Sea.

    Russia and Ukraine signed separately with Türkiye and the United Nations the Black Sea Grain Initiative in Istanbul in July 2022, which secured the export of Ukrainian grain and other agricultural products from Black Sea ports.

    As a parallel agreement, Russia and the UN signed a memorandum of understanding on the facilitation of Russian food and fertilizer exports.

    On July 17, 2023, Russia suspended its participation in the Black Sea deal, citing unfulfilled commitments to the Russian part. 

    MIL OSI China News

  • MIL-OSI China: Lukashenko officially takes office as Belarusian president

    Source: China State Council Information Office 3

    Alexander Lukashenko takes the oath of office during an inauguration ceremony in Minsk, Belarus, March 25, 2025. [Photo/Xinhua]

    Alexander Lukashenko has officially taken office as President of Belarus on Tuesday.

    Lukashenko assumed office for his seventh term following his victory in the January 26 elections.

    The inauguration ceremony took place at the Independence Palace in Minsk, attended by top officials and invited guests.

    During the event, Lukashenko took the presidential oath. He pledged to faithfully serve the people of Belarus, uphold and protect the rights and freedoms of its citizens, and observe and defend the nation’s constitution.

    The Chairman of the Central Election Commission, Igor Karpenko, presented the newly inaugurated president with a presidential certificate.

    According to the Central Election Commission of Belarus, Lukashenko won the presidential election with 86.82 per cent of the vote. 

    MIL OSI China News

  • MIL-OSI China: Tesla sales halve in EU amid broader EV boom

    Source: China State Council Information Office

    Sales of electric vehicles in the European Union (EU) rose in the first two months of 2025, but Tesla saw a sharp drop in new registrations, industry data showed on Tuesday.

    Battery-electric car sales grew by 28.4 percent year-on-year to about 255,489 units, accounting for 15.2 percent of the total EU market, according to the European Automobile Manufacturers’ Association (ACEA).

    Tesla registered around 19,000 new vehicles during the same period, down nearly 49 percent from more than 37,000 a year earlier.

    The decline comes amid strained transatlantic ties, worsened by U.S. President Donald Trump’s recent remarks about “buying” Greenland and tariff hikes on the EU. Tesla, whose CEO Elon Musk has close ties with Trump, has faced growing consumer backlash in parts of Europe. 

    MIL OSI China News

  • MIL-OSI China: BMW launches 360-degree full-chain AI strategy in China

    Source: China State Council Information Office

    German automaker BMW on Tuesday announced the launch of its 360-degree full-chain artificial intelligence (AI) strategy in China, aimed at accelerating the integration of AI across its operations in the country.

    The newly unveiled AI strategy has three main pillars of focus: enhancing user experience, empowering business processes to improve efficiency, and fostering win-win supply chain cooperation, according to the German auto behemoth.

    “BMW views AI as a key driver in creating more human-centered, smarter and safer mobility solutions. The Group remains committed to innovation and responsibility, advocating for the responsible use of AI,” said BMW CEO Oliver Zipse, who recently visited China and addressed the China Development Forum 2025.

    The German company said AI-powered large language models (LLMs) and intelligent systems will be integrated into its first China-made, next-generation model, set to launch in 2026, which will enhance the natural and seamless interaction between cars and drivers. Earlier this month, BMW revealed that the next-generation model, Neue Klasse, will feature a smart interconnection solution from Huawei.

    With research and development (R&D) centers in Beijing, Shanghai, Shenyang and Nanjing, BMW has established its largest R&D network outside of Germany in China.

    “As a central focus of our AI strategy, BMW will continue to innovate based on the next-generation technology cluster, consistently enhancing and enriching the all-scenario intelligent experience for Chinese users,” said Sean Green, president and CEO of BMW Group Region China.

    In 2012, BMW became the first automotive client of Chinese battery giant CATL. Moving forward, the German carmaker has announced plans to collaborate with more top Chinese tech companies in cutting-edge areas such as AI LLMs and intelligent voice interaction, jointly developing solutions that best meet the needs of Chinese users.

    Since 2010, BMW’s total investment in its Shenyang production base has totaled 116 billion yuan (about 16.16 billion U.S. dollars), making the city home to BMW’s largest production facility worldwide. 

    MIL OSI China News

  • MIL-OSI China: China’s Xinfeng to establish 1.65B USD industrial complex in Egypt’s Suez Canal Economic Zone

    Source: China State Council Information Office

    The Chinese-funded enterprise XinFeng Egypt signed a land use rights agreement on Tuesday with Egypt’s General Authority of the Suez Canal Economic Zone (SCZone) to establish a manufacturing complex.

    Under the agreement, Xinfeng Egypt will invest 1.65 billion U.S. dollars to build a manufacturing complex covering 3.75 million square meters in the SCZone’s Ain Sokhna Integrated Zone, the Egyptian cabinet said in a statement.

    Egyptian Prime Minister Mostafa Madbouly, Deputy Prime Minister and Minister of Transport and Industry Kamel al-Wazir, Chairman of the SCZone General Authority Waleid Gamal El-Dein, and other Egyptian officials attended the signing ceremony.

    The complex, planned for completion in two phases over five years, will include nine factories, a solid waste treatment workshop, and an R&D and training center. It will primarily manufacture automobile and transportation parts, industrial standard parts, and industrial non-standard parts.

    Xinfeng Egypt Chairman Tian Haikui said the manufacturing complex, expected to create 8,000 direct jobs, will focus on terminal industrial product manufacturing and high-value-added industries such as automobiles, engineering machinery, and home appliances.

    “This will not only enhance the competitiveness of Egypt’s manufacturing industry but also create a large number of employment opportunities, improve local skills, and promote export growth, which is highly consistent with Egypt’s ‘Vision 2030’ goals,” he said. 

    MIL OSI China News

  • MIL-OSI China: China remains center of global manufacturing value chains: report

    Source: China State Council Information Office

    A panel discussion themed on “Global Free Trade Port Development” is held during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 25, 2025. [Photo/Xinhua]

    China continues to be the center of global manufacturing value chains, according to a report released by the Boao Forum for Asia Tuesday.

    The report, titled Asian Economic Outlook and Integration Progress Annual Report 2025, noted that since 2017, global trade in intermediate goods has been more reliant on China than on North America. In 2023, global dependence on China for intermediate goods stood at 16 percent, compared with 15 percent for North America.

    The trade frictions provoked by the United States in 2018 have not elevated its position in the global value chains of manufacturing, the report added. 

    MIL OSI China News

  • MIL-OSI China: Heraeus launches 83.6M USD quartz plant in China’s Shenyang

    Source: China State Council Information Office

    German technology company Heraeus Group on Tuesday officially launched its new quartz manufacturing plant in Shenyang, the capital of northeast China’s Liaoning Province, in its latest move to deepen Sino-German manufacturing cooperation.

    With a total investment of nearly 600 million yuan (about 83.6 million U.S. dollars), the plant is Heraeus’ largest semiconductor project in China. It will focus on the development and production of high-purity and ultra-high-purity synthetic quartz products for the semiconductor industry.

    The new factory’s operations are a strong demonstration of Heraeus’ “In China, for China” strategy, said Frank Stietz, COO and member of the board of managing directors of Heraeus Group.

    With intelligent and environmentally friendly facilities and techniques, the new plant will optimize its logistics, workforce and information flows to enhance production efficiency.

    The plant will also explore new products and techniques in a bid to meet the latest demands of China’s semiconductor clients, the company said.

    Ai Zhouping, president of Heraeus Greater China, said the company will build the new factory into an advanced manufacturing and innovation base to help drive the development of the semiconductor sector and improve the semiconductor industrial chain in China’s northeastern region.

    Heraeus Group, a global Fortune 500 company, operates in various sectors, including environmental protection, electronics, health care and industrial applications. 

    MIL OSI China News

  • MIL-OSI China: German chancellor, gov’t dismissed by president

    Source: China State Council Information Office

    Olaf Scholz (C) attends the first gathering of the 21st Bundestag in Berlin, Germany, on March 25, 2025. [Photo/Xinhua]

    German Chancellor Olaf Scholz and his cabinet were officially dismissed by President Frank-Walter Steinmeier on Tuesday afternoon.

    Scholz will remain as caretaker chancellor until a new government takes office.

    The negotiation to build a ruling coalition is underway. Germany’s conservative bloc, the Christian Democratic Union (CDU) and the Christian Social Union (CSU), took the lead in the country’s 2025 federal election, followed by the Social Democratic Party (SPD). The results have paved the way for a CDU/CSU and SPD coalition.

    CDU leader Friedrich Merz is expected to head the new government. He has voiced the willingness to put the government in place by Easter.

    Also on Tuesday, CDU’s Julia Kloeckner was elected as the new president of the Bundestag, the lower house of parliament.

    Born in 1972, Kloeckner served as a Bundestag member from 2002 to 2011. She held the position of Parliamentary State Secretary at the Federal Ministry of Food, Agriculture and Consumer Protection from 2009 to 2011. From 2018 to 2021, she served as minister of food and agriculture and again a member of the Bundestag from 2021.

    The election took place during the first gathering of the 21st Bundestag following February’s election. The first sitting marks the end of the previous electoral term and the Bundestag adopted its rules of procedure.

    The term of the current federal government concludes with the constitution of the new Bundestag. 

    MIL OSI China News

  • MIL-OSI China: Russia, US agree on energy facility categories subject to ceasefire

    Source: China State Council Information Office

    Russia and the United States have agreed on a category list of energy facilities spared from being targeted during a 30-day energy ceasefire in the Russia-Ukraine conflict, according to a Kremlin statement Tuesday.

    The list includes oil refineries, oil and gas pipelines and storage facilities, electricity generation and transmission infrastructure, nuclear power plants, and hydroelectric dam facilities.

    The Kremlin added that the 30-day ceasefire on energy facilities is in effect starting from March 18 and may be extended by mutual agreement or cease to be in effect if violated by one of the parties.

    In an earlier statement, the Kremlin noted that Russia and the United States agreed to form measures to implement the 30-day ceasefire agreement.

    Russia and Ukraine held separate talks with the United States in Riyadh, capital of Saudi Arabia, on March 23-25.

    Ukrainian Defense Minister Rustem Umerov said earlier in the day after the talks with the U.S. delegation that “all parties” agreed to develop measures implementing the energy facility ceasefire. 

    MIL OSI China News

  • MIL-OSI China: US military conducts fresh airstrikes on Yemen’s Saada province

    Source: China State Council Information Office

    The U.S. military carried out two airstrikes on Yemen’s northern Saada province Tuesday night, Houthi-run al-Masirah TV reported.

    The strikes targeted the Sahar district in central Saada, the report said, without providing further details. There were no immediate reports of casualties. The U.S. military has not commented.

    Saada is the main stronghold of the Iran-aligned Houthi movement, which has controlled northern Yemen, including the capital Sanaa, since the civil war erupted in late 2014.

    The airstrikes are part of an ongoing U.S. campaign against Houthi-controlled areas in Yemen, launched in mid-March.

    The Houthis have vowed to continue targeting Israeli sites and ships in solidarity with Palestinians in Gaza and to retaliate against “American aggression.”

    MIL OSI China News

  • MIL-OSI China: Europe urged to unite amid US tariffs, rising debt, and big tech challenges

    Source: China State Council Information Office

    European unity is vital to tackling economic challenges ranging from new U.S. tariffs and rising public debt to the expanding influence of big tech firms, Italian political figures and analysts have said at a conference in Rome.

    The conference, titled “Governing Europe and Italy in the Age of Donald Trump,” was hosted by LUISS University on Monday evening and featured prominent speakers, including former Italian Prime Ministers Mario Monti and Giuliano Amato, Finance Minister Giancarlo Giorgetti, European Commission Vice-President Raffaele Fitto, and LUISS professors.

    “What we are seeing today is not the only time Europe has faced big challenges,” said Monti, who served as Italy’s prime minister between 2011 and 2013 during the global sovereign debt crisis. “But we must act together to confront the current challenges.”

    Earlier this month, U.S. President Donald Trump announced a 25-percent tariff on aluminum, steel, and related imports, with another round set to take effect on April 2, though details remain unclear. In response, the European Union initially planned retaliatory tariffs for April 1 but postponed them by at least two weeks following a European Council meeting to allow more time for negotiations.

    On the sidelines of the conference, economics professor Pietro Reichlin told Xinhua that the Trump administration’s unpredictable tariff policies complicate the EU’s response strategies.

    Reichlin stressed the importance of understanding U.S. trade goals to reach an agreement, pointing to the EU’s surplus in goods and the U.S. strengths in services and energy as potential negotiation points.

    Italy’s Finance Minister Giorgetti warned that mounting debt and the growing influence of big tech firms – particularly U.S. giants such as Google and leading players in artificial intelligence, are increasingly limiting the policymakers’ options.

    According to Eurostat, the EU’s average debt stood at 81.6 percent of GDP at the end of the third quarter of 2024 while the eurozone recorded an average ratio of 88.1 percent. Italy’s debt-to-GDP ratio reached 136.3 percent, second only to Greece.

    Speakers stressed the need for greater cohesion within Europe to address external trade pressures, the Ukraine conflict, and internal disputes within the bloc. Amato emphasized that cooperation, not conflict, drives prosperity.

    Reichlin also stressed the importance of adapting to evolving trade dynamics with China. “Adjusting trade relations is crucial, as both sides stand to benefit from deeper engagement,” he said. 

    MIL OSI China News

  • MIL-OSI China: Russia, Ukraine hold parallel US-mediated talks in Saudi Arabia

    Source: China State Council Information Office

    Three days of technical-level negotiations on the details of a potential ceasefire in Ukraine concluded Tuesday without an official joint statement, as participating parties offered somewhat conflicting assessments of the talks.

    The intense parallel interactions between the United States and delegations from Ukraine and Russia on the table, including a 12-hour one between the United States and Russia on Monday, and two shorter rounds between the United States and Ukraine on Sunday and Tuesday, came as fighting on the battlefield remains intense.

    Although Washington signaled on Tuesday its willingness to continue facilitating negotiations between the warring parties, analysts remain skeptical about the prospects of such a diplomatic push, citing deep-seated distrust, conflicting demands among stakeholders, and the inherent complexities of the process.

    Conflicting assessments

    For the latest talks, which build on previous negotiations held in Saudi Arabia and subsequent phone exchanges between the presidents of the three countries, the U.S. delegation included Andrew Peek, a senior director at the White House National Security Council, and Michael Anton, a senior official from the State Department. The Russian delegation was led by Grigory Karasin, chair of the Federation Council’s Foreign Affairs Committee, and Sergei Beseda, an advisor to the director of the Federal Security Service. Defense Minister Rustem Umerov headed the Ukrainian delegation.

    On Tuesday, hours after the U.S. and Ukrainian delegations concluded their second round of talks, the White House issued separate statements elaborating on its understanding of the parallel meetings.

    It stated that the United States had agreed separately with Russia and Ukraine to “ensure safe navigation, eliminate the use of force, and prevent the use of commercial vessels for military purposes in the Black Sea,” and to develop measures for implementing the presidents’ agreement to “ban strikes against energy facilities of Russia and Ukraine.”

    The United States, with Russia and Ukraine respectively, also “welcomes the good offices of third countries with a view toward supporting the implementation of the energy and maritime agreements” and “will continue working toward achieving a durable and lasting peace,” the statement added.

    Among the outcomes of the U.S.-Russia talks, the United States pledged to help restore Russia’s access to the global market for agricultural and fertilizer exports, reduce maritime insurance costs, and improve access to ports and payment systems for such transactions.

    In the U.S.-Ukraine talks, both sides reaffirmed the United States’ commitment to facilitating the exchange of prisoners of war, securing the release of civilian detainees, and ensuring the return of forcibly transferred Ukrainian children.

    Meanwhile, the Kremlin stated on Tuesday that Russia and the United States had agreed to ensure the implementation of the Black Sea Initiative, contingent on the easing of sanctions on Russia’s agricultural and food trade.

    Russia also stipulated the removal of restrictions on its food and fertilizer producers and exporters, the servicing of related Russian-flagged vessels in ports, and the supply of agricultural machinery to Russia, according to the Kremlin.

    It further announced that a “temporary moratorium” on strikes against energy facilities — including nuclear power plants, oil refineries, gas pipelines, and hydroelectric dams — would be in effect for 30 days starting March 18 and “may be extended by mutual agreement.”

    Previously, Russian President Vladimir Putin agreed on March 18 to halt attacks on energy facilities in a phone call with U.S. President Donald Trump.

    As for Kiev, while Umerov stated on Tuesday that “all parties” had agreed on the need to prohibit attacks on energy infrastructure in the Russia-Ukraine conflict, he also warned that any movement of Russian military vessels beyond the eastern part of the Black Sea would “violate the agreement’s spirit” and be considered a “threat to Ukraine’s national security.” In response, Ukraine would exercise its right to self-defense, he cautioned.

    Mixed sentiments

    Commenting on the three-day peace negotiations, Trump said the U.S. side was “in deep discussions with Russia and Ukraine,” which were “going well.”

    He added that he would look into Russia’s requests for sanctions relief.

    However, the mood is quite different for both Russia and Ukraine. Although the meetings in Saudi Arabia hinted at the possibility of a broader ceasefire, the two countries remain wary of the latest deal, voicing contrasting concerns over its implementation.

    In an interview with local media, Russian Foreign Minister Sergei Lavrov said Moscow needs “clear guarantees” from the White House regarding the agreement on the safety of shipping in the Black Sea.

    “Given the sad experience of agreements with just Kiev, the guarantees can only be the result of an order from Washington to (Ukrainian President Volodymyr) Zelensky and his team,” Lavrov said.

    Zelensky accused the Kremlin of “lying” and “manipulating” by saying the Black Sea ceasefire depends on “sanctions,” warning that the Russians “must understand that if they launch strikes, there will be a strong response.”

    At a press conference earlier Tuesday, Zelensky criticized Washington’s decision to help restore Russia’s access to the world market for agricultural goods, dismissing it as “a weakening of the position and a weakening of sanctions.”

    The Ukrainian president said he hopes to gain clarity from an upcoming summit in Paris regarding which countries would deploy forces to enforce the peace agreements.

    “Our task is to come out with the result of understanding who we have and who is ready” to contribute forces to implement measures to halt the conflict, Zelensky said.

    In the meantime, Europe, once again finding itself sidelined in addressing the conflict, has been actively organizing support for Ukraine in recent weeks.

    French President Emmanuel Macron announced that leaders of the so-called “coalition of the willing” will meet again this week, focusing on short-term military support for Ukrainian forces and exploring long-term “security guarantees” to help sustain Ukraine’s defense. Macron’s remarks have been dismissed by the United States as “a posture and a pose.”

    The meeting in Paris with Zelensky will be the latest in a series of high-stakes gatherings among European leaders, following London’s hosting of discussions on Thursday among European military chiefs from the coalition backing Ukraine.

    Britain and France are taking a leading role in organizing Western support for Ukraine after Trump surprised Europe by initiating talks with Putin. The two European powers have pledged to help provide the military force needed to keep Russia “at bay” if a ceasefire is reached.

    Uncertain future

    Notably, the battlefield showed no signs of quieting despite the peace talks in Saudi Arabia, with both Russia and Ukraine reporting fresh waves of drone strikes and accusing each other of escalation.

    On Tuesday, the Russian Defense Ministry said Ukraine had “continued to deliberately strike Russian peaceful energy infrastructure facilities using UAVs.”

    “By continuing daily attacks on Russian energy infrastructure, Zelensky confirms his inability to negotiate and his lack of control by external guarantors responsible for ensuring compliance with any possible agreements,” the ministry said.

    In Ukraine, the number of people injured on Monday in a Russian missile strike on the northeastern city of Sumy rose to 101, including 23 children, according to the Sumy regional administration.

    Preliminary data indicated that a Russian missile struck a residential area of the city, damaging several apartment buildings and an educational institution, the Sumy Regional Prosecutor’s Office said in a statement.

    Experts have pointed out that a real, permanent peace settlement could be far off, citing deep-rooted divisions and a growing trust deficit among the stakeholders.

    Khalid Almatrafi, Bureau Chief of Asharq TV in Saudi Arabia, told Xinhua that “the escalating mutual attacks … reflect the deepening gap between the two sides and complicate any negotiating process.”

    The repeated accusations deepen mistrust and make it difficult to establish any “confidence-building measures,” which are essential for transitioning from a ceasefire to a sustainable political settlement, said Almatrafi.

    Echoing Almatrafi’s viewpoint, Abdulaziz Alshaabani, a Saudi researcher at Al Riyadh Center for Political and Strategic Studies, said that “a lack of trust” poses a major threat to reaching an agreement, “given the history of violations of agreements between the two sides.”

    “In 2022, several rounds of negotiations took place … in the end, nothing came of it,” said Andrey Kortunov, a scholar with the Valdai Discussion Club in Russia. “Over the past three years, there has been a major escalation, and the situation has changed,” making it “difficult for both sides to find compromises,” Kortunov said.

    “Given the difficulty in enforcing a halt to strikes on energy infrastructure agreed upon last week, it remains to be seen how effective the latest deal will be,” The Independent, a British online newspaper, reported.

    The newspaper also questioned Washington’s motives in assuming the mediator’s role, particularly concerning Ukraine’s mineral and energy resources.

    “The Trump administration has claimed that Washington’s stake in Ukraine’s minerals and energy resources could deter Russia from launching future attacks,” but such a diplomatic push would, in fact, grant Washington “a vast stake in Ukraine’s rare earth mineral deposits,” it said.

    “Ukraine’s gas infrastructure could also be of interest to the White House, with Kiev owning the world’s third-largest underground gas storage capacity,” it noted. 

    MIL OSI China News

  • MIL-OSI China: Celebration held before Sanyuesan Festival at primary school in China’s Guangxi

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

    Celebration held before Sanyuesan Festival at primary school in China’s Guangxi

    Updated: March 26, 2025 09:13 Xinhua
    Students prepare for a performance at a primary school in Rongshui Miao Autonomous County of Liuzhou City, south China’s Guangxi Zhuang Autonomous Region, March 25, 2025. Students of various ethnic groups at a primary school in Rongshui held a celebration prior to the Sanyuesan Festival, a festival celebrated on the third day of the third lunar month, by wearing traditional costumes and staging traditional performances on Tuesday. This year’s Sanyuesan Festival falls on March 31. [Photo/Xinhua]
    Students pose for a group photo at a primary school in Rongshui Miao Autonomous County of Liuzhou City, south China’s Guangxi Zhuang Autonomous Region, March 25, 2025. [Photo/Xinhua]
    Students experience embroidery at a primary school in Rongshui Miao Autonomous County of Liuzhou City, south China’s Guangxi Zhuang Autonomous Region, March 25, 2025. [Photo/Xinhua]
    Students perform traditional dancing at a primary school in Rongshui Miao Autonomous County of Liuzhou City, south China’s Guangxi Zhuang Autonomous Region, March 25, 2025. [Photo/Xinhua]
    Students perform at a primary school in Rongshui Miao Autonomous County of Liuzhou City, south China’s Guangxi Zhuang Autonomous Region, March 25, 2025. [Photo/Xinhua]
    Students perform bamboo pole dance at a primary school in Rongshui Miao Autonomous County of Liuzhou City, south China’s Guangxi Zhuang Autonomous Region, March 25, 2025. [Photo/Xinhua]
    Students sing folk songs in a call-and-response style at a primary school in Rongshui Miao Autonomous County of Liuzhou City, south China’s Guangxi Zhuang Autonomous Region, March 25, 2025. [Photo/Xinhua]
    Students perform traditional dancing at a primary school in Rongshui Miao Autonomous County of Liuzhou City, south China’s Guangxi Zhuang Autonomous Region, March 25, 2025. [Photo/Xinhua]

    MIL OSI China News

  • MIL-OSI China: Migratory birds and spotted seals meet at Liaohe River

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

    As spring arrives, life flourishes at the estuary of the Liaohe River in northeast China’s Liaoning Province. Over 400 spotted seals, nearly a quarter being newborn pups, bask on the tidal flats. Flocks of red-crowned cranes, oriental storks and Chinese black-headed gulls also stop here during their northward migration, filling the wetlands with vibrant energy.

    MIL OSI China News

  • MIL-OSI China: 4.2-magnitude quake strikes Hebei: CENC

    Source: China State Council Information Office 2

    A 4.2-magnitude earthquake struck the county of Yongqing in Langfang, north China’s Hebei Province at 1:21 a.m. Wednesday (Beijing Time), according to the China Earthquake Networks Center (CENC).
    The epicenter was monitored at 39.42 degrees north latitude and 116.60 degrees east longitude. The quake struck at a depth of 20 km, said a report issued by the CENC.
    Tremor was felt in Beijing, and many residents in the capital received an earthquake early warning message.

    MIL OSI China News

  • MIL-OSI China: Over 700 firefighters battling forest fire in E China

    Source: China State Council Information Office 2

    An aerial drone photo taken on March 26, 2025 shows a forest fire at the Donggushan Forest Farm in Lujiang County, east China’s Anhui Province. [Photo/Xinhua]
    More than 700 firefighters are battling a raging fire in a forest farm in east China’s Anhui Province, local authorities said Tuesday night.
    No deaths or injuries were reported, and no people were trapped in the fire.
    The fire broke out at about 2:26 p.m. Tuesday in the Donggushan Forest Farm in Lujiang County in the provincial capital of Hefei, the Lujiang county emergency command center said.
    More than 700 firefighters have arrived at the site and they are still working on the night to fight the fire with the help of excavators, water spraying drones and fire tankers.
    An initial investigation showed that the fire was ignited as nearby residents burned paper money to pay respect to their ancestors. The burned area of the forest fire has not yet been determined.

    MIL OSI China News

  • MIL-OSI China: China discovers large shale oil reserve in major oilfield

    Source: China State Council Information Office 2

    This file photo shows the drilling site of the Jiyang shale oil national demonstration zone in east China’s Shandong Province. [Photo/Xinhua]
    The China Petrochemical Corporation (Sinopec Group), the country’s largest oil refiner, has announced the discovery of more than 140 million tonnes of proven shale oil reserve in east China’s Shandong Province.
    This is the first shale oilfield with proven reserves exceeding 100 million tonnes to be certified by the Ministry of Natural Resources, and a major breakthrough in oil and gas exploration in the Jiyang shale oil national demonstration zone.
    To date, the estimated shale oil resources have reached 10.5 billion tonnes in the demonstration zone, owned by the Shengli Oilfield in Shandong, with cumulative oil output surpassing 1 million tonnes.
    “The estimated shale oil reserves of Shengli Oilfield are equivalent to the conventional oil and gas resources discovered in Shengli Oilfield over the past over 60 years,” said Sun Yongzhuang, assistant president of Sinopec and executive director of Shengli Petroleum Administrative Bureau Co., Ltd.
    The Shengli Oilfield was discovered in 1961, and its development began in 1964.
    Shale oil mainly refers to liquid hydrocarbons that are trapped in formations of shale rock that can be extracted for refining. It is often found in organic-rich shale and thin interlayers of carbonate rocks, sandstones and siltstones.
    China has established three national-level shale oil demonstration zones in Xinjiang Uygur Autonomous Region, Heilongjiang Province and Shandong Province, respectively.

    MIL OSI China News

  • MIL-OSI China: Chinese VP calls for solid progress in building Hainan FTP

    Source: China State Council Information Office 2

    Chinese Vice Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, visits the one-stop aircraft maintenance base of Hainan Free Trade Port in Haikou, south China’s Hainan Province, March 24, 2025.[Photo/Xinhua]
    Chinese Vice Premier Ding Xuexiang has required solid efforts to promote the building of Hainan Free Trade Port and develop it into a gateway that leads China’s opening up in the new era.
    Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks during an inspection tour in south China’s Hainan Province on Monday and Tuesday.
    Ding visited an information facility of social management, airport and harbor ports to learn about the work in preparation for the independent customs operation of the free trade port.
    Ding said the independent customs operation will be launched this year, calling for efforts to ensure a smooth, orderly and successful operation.
    He also learned about the implementation of duty-free shopping policies and the building of an international tourism consumption center. Hainan should develop new quality productive forces based on local conditions and accelerate the development of modern industrial system with its own features and advantages, he said.
    Ding also urged greater efforts to develop the sector of commercial spaceflight and ensure quality education in rural areas.

    MIL OSI China News

  • MIL-OSI China: More Cambodians enthusiastic about learning Chinese

    Source: China State Council Information Office 3

    Students learn Chinese language at the Confucius Institute of the Royal Academy of Cambodia in Phnom Penh, Cambodia, March 24, 2025. [Photo/Xinhua]

    Cambodian civil servant Long Meikim was all ears and took good notes when a Chinese teacher taught Chinese on Monday at the Confucius Institute of the Royal Academy of Cambodia.

    The 24-year-old employee at a state ministry in Phnom Penh said she was eager to master Chinese proficiency, as it would be helpful in her job and make it easy for her to communicate with Chinese people.

    Meikim is among hundreds of Cambodian students taking Chinese classes at the Confucius Institute of the Royal Academy of Cambodia. After learning Chinese for four months, she can now communicate in simple situations and understand some basic vocabulary and grammar.

    “The Chinese language has helped me a lot in my current job. Moreover, nowadays, many Chinese people have come to Cambodia,” she told Xinhua.

    Meikim said she really likes the Chinese language and culture, saying that learning Chinese would give her the possibility to gain insights into ancient and diverse cultures.

    “For China, I have never been there, but I’m impressed with its modern cities with skyscrapers and beautiful scenery,” she said. “The field that impressed me the most is technology. Technology in China is advanced.”

    Sharing her view on the current Cambodia-China ties, Meikim said cooperation in various sectors and cultural exchange has made the two countries’ relations get closer, as their “ironclad” friendship has been further strengthened.

    “I’m pleased to see excellent relations between Cambodia and China,” she said. “I hope China will increase its investment in Cambodia in order to help further boost Cambodia’s economic growth, and Chinese education will be further expanded.”

    Meikim said she has dreamed of studying in China since she was in high school, and she hopes that her dream will come true one day.

    Rorn Chanara, a 20-year-old learner of Chinese literature at the Confucius Institute of the Royal Academy of Cambodia, said the influx of Chinese investors, businesspeople, and tourists had motivated him to study Chinese.

    “I think the Chinese language is good and will be useful for me in the future, helping me communicate well with Chinese people and get a proper job with a high income,” he told Xinhua.

    As there are many reputable Chinese enterprises operating in the Southeast Asian country, Chanara hopes that he will become an interpreter for those companies in the future when he masters Chinese proficiency.

    “The Confucius Institute has greatly contributed to promoting good relations between Cambodian and Chinese people and providing Chinese education to students, allowing them to learn both Chinese literature and culture,” he said.

    Chanara praises China for its advanced technology, high development and good education system, saying he is also keen to study in China if possible.

    Niu Li, Chinese director of the Confucius Institute of the Royal Academy of Cambodia, said jointly founded by Jiujiang University in East China’s Jiangxi Province and the Royal Academy of Cambodia on Dec. 22, 2009, the institute has gradually developed into one of the largest and most influential Chinese education and cultural exchange institutions in Cambodia.

    “As the first Confucius Institute in Cambodia, the institute has always committed to promoting Chinese teaching, spreading Chinese culture and promoting cultural exchanges between China and Cambodia,” he told Xinhua.

    In the process of development in more than 10 years, it has continuously improved its teaching network, Niu said, adding that it has now covered several provinces and cities in Cambodia, with Confucius classrooms, Chinese language centers and university Chinese departments in Phnom Penh, Siem Reap, and Sihanoukville among others.

    “Our goal is to provide high-quality Chinese education to government officials, military personnel and learners from all walks of life,” he said. “The total number of registered students exceeds 130,000, and the number of people studying Chinese at the institute each year exceeds 8,000.”

    MIL OSI China News

  • MIL-OSI China: View of Boao zero-carbon demonstration zone

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

    View of Boao zero-carbon demonstration zone

    Updated: March 26, 2025 08:52 Xinhua
    This photo taken on March 25, 2025 shows an area of coconut forest in the Boao zero-carbon demonstration zone in Boao, south China’s Hainan Province. China’s Boao has announced the establishment of its first zero-carbon zone, a significant step forward in the country’s pursuit of low-carbon development, according to authorities in Hainan. One expert has said that the achievement is a pioneering example for global carbon reduction efforts, and underscores China’s commitment to carbon neutrality and sustainable development. Spanning about 190 hectares, the demonstration zone includes Dongyu Island, which is the permanent site of the annual Boao Forum for Asia (BFA) conference. By focusing on green building renovation and renewable energy adoption, the demonstration zone has successfully reduced carbon dioxide emissions from buildings and other infrastructure from 11,300 tonnes in 2019 to zero tonnes in 2024, according to data from local authorities. [Photo/Xinhua]
    This photo taken on March 25, 2025 shows the view of a garden in the Boao zero-carbon demonstration zone in Boao, south China’s Hainan Province. [Photo/Xinhua]
    This photo taken on March 25, 2025 shows the view of a garden in the Boao zero-carbon demonstration zone in Boao, south China’s Hainan Province. [Photo/Xinhua]
    An aerial drone photo taken on March 19, 2025 shows the Boao zero-carbon demonstration zone in the Dongyu Island in Boao Town of Qionghai City, south China’s Hainan Province. [Photo/Xinhua]
    An aerial drone photo taken on March 16, 2025 shows the photovoltaic devices at a parking lot in the Boao zero-carbon demonstration zone in Boao, south China’s Hainan Province. [Photo/Xinhua]
    This photo taken on March 25, 2025 shows an electric vehicle charging station in the Boao zero-carbon demonstration zone in Boao, south China’s Hainan Province. [Photo/Xinhua]
    An aerial drone photo taken on March 16, 2025 shows the photovoltaic devices on the roof of the Boao Forum for Asia (BFA) International Conference Center and a BFA hotel in the Boao zero-carbon demonstration zone in Boao, south China’s Hainan Province. [Photo/Xinhua]
    This photo taken on March 25, 2025 shows keychains made from recycled materials being displayed at a zero-carbon rest area for the Boao Forum for Asia (BFA) in Boao, south China’s Hainan Province. [Photo/Xinhua]
    This photo taken on March 25, 2025 shows an operation management center of the Boao zero-carbon demonstration zone in Boao, south China’s Hainan Province. [Photo/Xinhua]
    An attendee drinks direct drinking water in the Boao zero-carbon demonstration zone in Boao, south China’s Hainan Province, March 25, 2025. [Photo/Xinhua]
    People experience a cycling challenge at a park on Dongyu Island in Boao, south China’s Hainan Province, March 25, 2025. [Photo/Xinhua]
    This photo taken on March 25, 2025 shows a zero-carbon bar in the Boao zero-carbon demonstration zone in Boao, south China’s Hainan Province. [Photo/Xinhua]
    Staff members demonstrate the procedure of plastic recycling in the Boao zero-carbon demonstration zone in Boao, south China’s Hainan Province, March 25, 2025. [Photo/Xinhua]
    This photo taken on March 25, 2025 shows the outdoor photovoltaic floor tiles in the Boao zero-carbon demonstration zone in Boao, south China’s Hainan Province. [Photo/Xinhua]
    An aerial drone photo taken on March 16, 2025 shows the photovoltaic devices on the roof of the Boao Forum for Asia (BFA) News Center and its annex buildings in the Boao zero-carbon demonstration zone in Boao, south China’s Hainan Province. [Photo/Xinhua]

    MIL OSI China News

  • MIL-OSI: Qifu Technology, Inc. Announces Pricing of Offering of US$600 Million Cash-par Settled Convertible Senior Notes

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, March 25, 2025 (GLOBE NEWSWIRE) — Qifu Technology, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qifu Technology” or the “Company”), a leading AI-empowered Credit-Tech platform in China, today announced the pricing of its previously announced offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$600 million due 2030 (the “Notes”). The Notes have been offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company has granted the initial purchasers in the Notes Offering an option to purchase up to an additional US$90 million principal amount of the Notes, exercisable for settlement within a 13-day period beginning on, and including, the date on which the Notes are first issued.

    The Company plans to use the net proceeds from the Notes Offering for repurchasing the American depositary shares (“ADSs”) and/or class A ordinary shares of the Company concurrently with the pricing of the Notes Offering and from time to time after the pricing of the Notes Offering pursuant to a newly established share repurchase plan (the “March 2025 Share Repurchase Plan”) authorized by the board of directors of the Company. The March 2025 Share Repurchase Plan will run in addition to the Company’s existing share repurchase plan announced in November 2024. The Company expects the offering to be immediately accretive to 2025 earnings per ADS (“EPADS”) upon closing, facilitated by the execution of Concurrent Repurchase (as described below) and the cash-par conversion settlement mechanism of the Notes.

    Terms of the Notes

    The Notes will be general unsecured obligations of the Company and bear interest at a rate of 0.50% per year, payable semiannually in arrears on April 1 and October 1 of each year, beginning on October 1, 2025. The Notes will mature on April 1, 2030 unless repurchased, redeemed, or converted in accordance with their terms prior to such date. Holders of the Notes may require the Company to repurchase all or part of their Notes for cash on April 3, 2028 or in the event of certain fundamental changes, in each case, at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased plus accrued and unpaid interest, if any, to, but excluding, the relevant repurchase date.

    Prior to the close of business on the business day immediately preceding the 50th scheduled trading day before the maturity date, the Notes will be convertible at the option of the holders only upon satisfaction of certain conditions and during certain periods. On or after the 50th scheduled trading day before the maturity date until the close of business on the third scheduled trading day immediately preceding the maturity date, holders may convert their Notes at their option at any time. The initial conversion rate of the Notes is 16.7475 ADSs, per US$1,000 principal amount of the Notes, which is equivalent to an initial conversion price of approximately US$59.71 per ADS and represents an approximately 35.0% conversion premium over the closing price of the Company’s ADSs on the Nasdaq on March 25, 2025, which was US$44.23 per ADS. The conversion rate of the Notes is subject to adjustment upon the occurrence of certain events.

    The Notes contemplate cash-par settlement upon conversion. Upon conversion, the Company will pay cash in the aggregate principal amount of the Notes being converted and have the right to elect to settle the conversion consideration for amounts in excess of the aggregate principal amount using cash, ADSs, or a combination of cash and ADSs. Holders may elect to receive class A ordinary shares in lieu of any ADSs deliverable upon conversion, subject to certain conditions and procedures.

    In addition, the Company may redeem for cash all but not part of the Notes in the event of certain changes in the tax laws or if less than 10% of the aggregate principal amount of the Notes originally issued remains outstanding at such time, in each case, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the related redemption date. Any redemption may occur only prior to the 50th scheduled trading day immediately preceding the maturity date.

    Concurrent and Future Repurchases under the March 2025 Share Repurchase Plan

    The board of directors of the Company has approved the March 2025 Share Repurchase Plan, under which the Company is authorized to use all the net proceeds from the Notes Offering to repurchase the ADSs and/or class A ordinary shares. This includes (i) the Concurrent Repurchase (as described below) and (ii) the repurchase of additional ADSs and/or class A ordinary shares of the Company on the open market and/or through other means after the pricing of the notes and from time to time.

    Under the March 2025 Share Repurchase Plan, concurrently with the pricing of the Notes Offering, the Company plans to repurchase ADSs with an aggregate value of approximately US$230 million from certain purchasers of the Notes in off-market privately negotiated transactions effected through one of the initial purchasers or its affiliates, as the Company’s agent, at a price per ADS equal to US$44.23, the last reported sale price per ADS on the Nasdaq on March 25, 2025 (such transactions, the “Concurrent Repurchase”). The Concurrent Repurchase is expected to facilitate the initial hedges by purchasers of the Notes who desire to hedge their investments in the Notes, as the Company intends to repurchase the entire initial delta of the transaction. This will allow such purchasers of the Notes to establish short positions that generally correspond to commercially reasonable initial hedges of their investments in the Notes.

    In addition to the Concurrent Repurchase, the Company may repurchase additional ADSs and/or class A ordinary shares after the pricing of the Notes Offering and from time to time pursuant to the March 2025 Share Repurchase Plan. The share repurchases may be effected on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and will be implemented in accordance with all applicable rules and regulations, including the requirements of Rule 10b-18 and/or Rule 10b5-1 under the U.S. Securities Exchange Act of 1934, as amended.

    The Concurrent Repurchase and future repurchases pursuant to the Company’s March 2025 Share Repurchase Plan are generally expected to create meaningful EPADS accretion for and offset potential dilution to the holders of the Company’s class A ordinary shares (including in the form of ADSs) upon conversion of the Notes, taking into the account the settlement method of the Notes.

    Other Matters

    Any repurchase activities of the Company, whether the Concurrent Repurchase and future repurchases pursuant to the Company’s March 2025 Share Repurchase Plan or otherwise pursuant to its other share repurchase plan(s) and program(s), could increase, or reduce the magnitude of any decrease in, the market price of the ADSs and/or class A ordinary shares and/or the trading price of the Notes.

    The Company expects that potential purchasers of the Notes may employ a convertible arbitrage strategy to hedge their exposure in connection with the Notes. Any such activities by potential purchasers of the Notes following the pricing of the Notes and prior to the maturity date could affect the market price of the ADSs and/or class A ordinary shares and/or the trading price of the Notes. The effect, if any, of the activities described in this paragraph, including the direction or magnitude, on the market price of the ADSs and/or class A ordinary shares and/or the trading price of the Notes will depend on a variety of factors, including market conditions, and cannot be ascertained at this time.

    The Notes, the ADSs deliverable upon conversion of the Notes, if any, and the class A ordinary shares represented thereby or deliverable upon conversion of the Notes in lieu thereof have not been registered under the Securities Act, or any securities laws of any other places. They may not be offered or sold within the United States or to U.S. persons, except to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act.

    The Company expects to close the Notes Offering on or about March 27, 2025, subject to the satisfaction of customary closing conditions.

    This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

    This press release contains information about the pending Notes Offering, and there can be no assurance that the Notes Offering will be completed.

    About Qifu Technology

    Qifu Technology is a leading AI-empowered Credit-Tech platform in China. By leveraging its sophisticated machine learning models and data analytics capabilities, the Company provides a comprehensive suite of technology services to assist financial institutions and consumers and SMEs in the loan lifecycle, ranging from borrower acquisition, preliminary credit assessment, fund matching and post-facilitation services. The Company is dedicated to making credit services more accessible and personalized to consumers and SMEs through Credit-Tech services to financial institutions.

    For more information, please visit: https://ir.qifu.tech.

    Safe Harbor Statement

    Any forward-looking statements contained in this press release are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Qifu Technology may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, which factors include but not limited to the following: the Company’s growth strategies, the Company’s cooperation with 360 Group, changes in laws, rules and regulatory environments, the recognition of the Company’s brand, market acceptance of the Company’s products and services, trends and developments in the Credit-Tech industry, governmental policies relating to the Credit-Tech industry, general economic conditions in China and around the globe, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks and uncertainties is included in Qifu Technology’s filings with the SEC and the announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and Qifu Technology does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For further information, please contact:

    Qifu Technology

    E-mail: ir@360shuke.com

    The MIL Network

  • MIL-OSI China: China welcomes companies from all countries to seize opportunities, invest in China: FM spokesperson

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

    China welcomes companies from all countries to seize opportunities, invest in China: FM spokesperson

    BEIJING, March 25 — A Chinese foreign ministry spokesperson on Tuesday said China will unswervingly promote high-quality development and high-standard opening-up, welcoming companies from all countries to seize opportunities, invest in China and plan for the future.

    Spokesperson Guo Jiakun made the remarks when asked to provide more information about the China Development Forum 2025 at a daily news briefing.

    With the theme “Unleashing Development Momentum for Stable Growth of Global Economy,” the China Development Forum 2025 ran from March 23 to 24.

    Chinese Premier Li Qiang attended the opening ceremony of the forum on Sunday in Beijing and delivered a keynote speech.

    In his speech, Premier Li encouraged all parties to observe China’s development vitality through the economic highlights of the Spring Festival, comprehend its economic policies via China’s “two sessions,” and consider the righteous path for global development amid evolving international dynamics, said Guo.

    This demonstrates China’s confidence and resolve in driving sustained economic growth, while underscoring its commitment to serving as a stabilizing and anchoring force for global peace and development, Guo added.

    Guo noted that the forum attracted over 750 foreign representatives, with a broader national representation of participating multinational corporations. The number of first-time attending multinational companies has also increased, with a wider coverage of industry categories, he said.

    “This indicates that foreign-funded enterprises continue to hold optimism and businesses’ investment enthusiasm in China, expressing their confidence in the country’s economic development prospects,” Guo added.

    Noting that China will unswervingly promote high-quality development and high-standard opening-up, Guo said China welcomes companies from all countries to seize opportunities, invest in China, and plan for the future, aiming to foster stable global economic growth, jointly resist unilateralism and protectionism, and achieve greater development through mutual benefit.

    MIL OSI China News

  • MIL-OSI China: Chinese VP calls for solid progress in building Hainan Free Trade Port

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

    Chinese Vice Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, visits the one-stop aircraft maintenance base of Hainan Free Trade Port in Haikou, south China’s Hainan Province, March 24, 2025. Ding made an inspection tour in Hainan Province from Monday to Tuesday. [Photo/Xinhua]

    HAIKOU, March 25 — Chinese Vice Premier Ding Xuexiang has required solid efforts to promote the building of Hainan Free Trade Port and develop it into a gateway that leads China’s opening up in the new era.

    Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks during an inspection tour in south China’s Hainan Province on Monday and Tuesday.

    Ding visited an information facility of social management, airport and harbor ports to learn about the work in preparation for the independent customs operation of the free trade port.

    Ding said the independent customs operation will be launched this year, calling for efforts to ensure a smooth, orderly and successful operation.

    He also learned about the implementation of duty-free shopping policies and the building of an international tourism consumption center. Hainan should develop new quality productive forces based on local conditions and accelerate the development of modern industrial system with its own features and advantages, he said.

    Ding also urged greater efforts to develop the sector of commercial spaceflight and ensure quality education in rural areas.

    Chinese Vice Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, communicates with teachers while visiting Liandong Middle School in Wenchang, south China’s Hainan Province, March 25, 2025. Ding made an inspection tour in Hainan Province from Monday to Tuesday. [Photo/Xinhua]

    MIL OSI China News