Category: China

  • MIL-OSI Asia-Pac: 15th National Games Triathlon test event successfully concludes

    Source: Hong Kong Government special administrative region

    15th National Games Triathlon test event successfully concludes
    15th National Games Triathlon test event successfully concludes
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         The National Games Coordination Office (Hong Kong) (NGCO) said today (March 2) that the 15th National Games (NG) Triathlon test event staged at the Central Harbourfront and Victoria Harbour on March 1 and 2 concluded successfully.      A total of around 110 athletes from the Mainland, Macao, and Hong Kong participated in the two-day test event. Among them, 10 athletes (six males and four females), were from Hong Kong. The starting point of the races was located at the waterfront of the Wan Chai Temporary Promenade, while the finish line was set at the Central Harbourfront Event Space. The women’s individual and the men’s individual events were held on the first day and the winners were Ms Yang Yifan and Mr Zhang Xirui from Shandong triathlon team respectively. As for the first-ever mixed relay event in Hong Kong, Shandong team won the gold medal, while Liaoning team took the silver and Hong Kong team claimed the bronze.      The Head of the NGCO, Mr Yeung Tak-keung, said the race route this time has several characteristics, including that the end point was set at the Central Harbourfront Event Space for the first time while there were two transition areas, with one near the swimming area (swim-to-cycling transition) and another one at the Central Harbourfront Event Space (cycling-to-run transition); the athletes ran through a number of Hong Kong landmarks during the races, such as the Hong Kong Convention and Exhibition Centre, the Central Government Offices, the Legislative Council Complex, and the Hong Kong Observation Wheel; the cycling route was between Golden Bauhinia Square in Wan Chai and International Finance Centre in Central, with the backdrop of business district in Central and stunning scenery of Hong Kong’s Victoria Harbour; the cycling route passing through the Central Harbourfront Event Space raised the difficulty and made the event more enjoyable; and a spectator stand with seats was arranged at the Central Harbourfront Event Space to let audiences have a close sight of the races and witness the moments of crossing the line.      The test event was organised by the NGCO under the Culture, Sports and Tourism Bureau and co-organised by the Triathlon Association of Hong Kong China, with the China Triathlon Sports Association as an advisor. The test event covered a wide range of aspects, including operation and procedures of events, organisation of races, venue setup, information systems, security, medical services, accommodation, hospitality, food and beverage, transportation arrangements and contingency plans.      Mr Yeung said the NGCO will review the event procedures and other details with various related organisations and government departments after the test event, with a view to better preparing for the official events to be held at the end of this year.      For information on the 15th NG, the 12th National Games for Persons with Disabilities and the 9th National Special Olympic Games in Hong Kong, please visit the thematic website (www.2025nationalgames.gov.hk/en/index.html), as well as the Facebook page (www.facebook.com/2025nationalgames.hk) and Instagram page (www.instagram.com/2025nationalgames.hk).

     
    Ends/Sunday, March 2, 2025Issued at HKT 21:10

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Text of Vice-President’s address at the Fourth P. Parameswaran Memorial Lecture in Thiruvananthapuram (Excerpts)

    Source: Government of India

    Posted On: 02 MAR 2025 5:34PM by PIB Delhi

    It is an absolute privilege and an honour to deliver the 4th P. Parameswaran lecture organised by Bharatheeya Vicharakendram in Thiruvananthapuram.The memorial lecture in the honour, in the memory of one of the greatest sons of Bharat. He happens to be in the front league of idealogues and thinkers of Hindu thought process in this century. We are celebrating by way of this lecture one of the finest intellectuals committed to social work and such a son of the soil being honoured in the land of Kerala, North zone territory.

    It is a testament that our civilisational values thrive, A civilisation is known only by one fundamental consideration, does it really honour its great sons and that has been the theme in last few years. Our forgotten heroes, unsung heroes, we have remembered them.

     Kerala has been the cradle of intellectual discourse, cultural enlightenment, and spiritual pursuits. This is a land that birth legends for Adi Shankharacharya who expounded the philosophy of Advaita Vedanta to Narayana Guru who led the modern message by his social reform and by his team of social reformers. We are celebrating the memory of one of them.

     This land is also home to some of the most revered temples, including Sabrimala, Padmanabhaswamy temple, and Guruvayur drawing millions of devotees, they get inspired and motivated. The faith and devotion that permeates these sacred spaces reminds us of the eternal values that hold our nation together.

     Our values are sublime, full of religiosity and spirituality, righteousness and self service. This fertile sacred geography also birthed Shri P. Parameswaran ji who received his values with birth. His unwavering commitment to Bharatiya values, his deep understanding of Indian ethos and his relentless pursuit of national unity continues to inspire generations.

     His vision for a self-reliant Bharat, culturally rooted and spiritually awakened, resonates profoundly across the nation. When we talk about the confluence of East and West, we remember Shri Vivekananda, Swami Vivekananda and his historic address at Chicago that was rendered at the World Council of Religions in 1893. But who rekindled it? Who ignited the flame in us? Who inspired us in modern times? By the essence of that address that stirred global minds, it was none other than Shri P. Parameswaran.

     In 1993, hundred years after that event, it was Parameswaran ji who invited the world to reflect on Swamiji. His life, his legacy and his message. The Government of India has rightly recognised this great son of the soil, a great ideologue of Hindu thought process.

     A messenger of Bharatiya Sanskriti, an epicentre in a sense who disseminated sublimity of our values with Padma Shri in early 2000 and in 2018 with the second highest civilian award of Padma Vibhushan, but these decorations do not completely define the man in whose memory we are having this lecture.

     The tribute which we can pay to such towering figures who amplify our values, epitomise our cultural essence, the best of human values, is to follow what he exemplified. We must emulate the value system that he professed.

     Ladies and gentlemen, I greatly commend the subject or theme of this lecture, “Demography, Development and Democracy, Shaping the Future of Bharat”– Nothing could be more contemporaneously relevant than this theme, and this theme, when the theme is a tribute to Rashtriya Rishi who dedicated his journey to welfare of humanity through Rashtriya Swayam Sevak Sangh, an organisation spinally rooted in our cultural ethos and now in the centennial year, I appeal to everyone in two years we will be celebrating the birth centenary of this great son of the soil.

     I am sure steps will be taken by the organisers in concert with similar outfits so that his message goes around to the entire country and the world. If I have to put in summation the thought process of P. Parameswaran ji, we all are Bharatiya. भारतीयता हमारी पहचान है। राष्ट्रहित हमारा धर्म है, राष्ट्र कल्याण सर्वोपरि है। कोई भी हित व्यक्तिगत हो या राजनीतिक या सामाजिक, राष्ट्रहित से ऊपर नहीं है।

     And therefore, I commend the organisers for having so thought about it. The theme calls upon me to first reflect on the state of the nation. There was a time, and I had the occasion to see it, as a member of parliament in 1989, as a union minister in 1990-91, an atmosphere that did not

    inspire us. That was alarmingly worrisome, full of concern, and now our Bharat is brimming with positivity and possibility.

     It is full of hope and aspirations. All around, all pervasive, an ecosystem of hope and possibility we can see, and in global firmament, it is the brightest spot of investment and opportunity. The country has seen in the last decade exponential economic upsurge. Our rise from 11th position a decade ago, on the scale of economic size, we have traversed a long distance, facing headwinds, difficult terrain, overcoming hurdles created earlier, cleansing the system, making it transparent and accountable.

     We are the 5th largest global economy at the moment, on way to becoming 4 trillion economy in US dollars very shortly, and with average growth over this period of about 8%. Bharat happens to be the fastest growing global economy in last decade, acclaimed, accoladed and applauded by global institutions, the IMF and the World Bank.

     World Bank has appreciated our deep digitisation, technological penetration, and everyone sees it now as a ground reality. Next comes infrastructure. Phenomenal infrastructure growth has dotted our landscape. Be it on sea, deep sea, ground, sky or in space, all our accomplishments make us greatly proud, and I am happy to share with you, every year the country has added four new airports and one metro system, and on a daily basis, 14 kilometres of highways and 6 kilometres of railways are

    being added.

     If I reflect on scale of deep technological penetration, 85 million are benefiting with houses, 330 million with health coverage, and 29 million small businesses with loans annually. The government is hand-holding them by affirmative policies and innovative schemes. We now boast of beyond what we achieved in space. Lunar and Mars missions in medical science, vaccine production, and the nation is bound to be hub of semiconductors, engineering and manufacturing.

     India’s engagement with world in green energy, urbanisation, emerging disruptive technologies, we are in the front rank. It is for the first time that the country is in big league of nations on Artificial Intelligence, on Quantum computing, on Green Hydrogen mission, and all pervasive digitisation has generated transparency, Accountability, easy service affordability.

     Corruption has been neutralised from power corridors on account of technological inroads. Technological inroads have been no less than invasion on corruption and malpractices, and that is reflected in the scenario that almost half of digital transactions in the world are

    emanating from this country, 6.5 billion monthly.

     Let me recall what P. Parameswaran ji said on this occasion, on such an occasion, we need to reflect, remember, I quote, “The youth of Bharat are not merely inheritors of our civilisation, but the architects who will shape our nation’s future glory through their aspirations, innovations, and resilience.”

     Our demographic dividend, the youth component of it, is envy of the world. India’s greatest strength is its population. We are home to one-sixth of humanity, but look at our qualitative cutting edge demographic dividend.

    Sixty-five percent of the population is in working age. Our nation is an average age of 28.4 years. We are uniquely positioned as the world’s youngest major economy.

    Compare this to Japan, 48.7 years. Compare it to Germany, 44.3 years, and China, 38.4 years. People-centric policies and transparent accountable governance has given buoyancy to ecosystem. Imagine the scale of it, a nation of 1.4 billion. Look at the transformative change that has impacted the rural environment.

     Every house has a toilet, electric connection, water connection is on way, a gas connection.And look at the connectivity, internet, and road, rail, and handholding policies in health and education centre. These define our growth trajectory. India is no longer a nation with a promise. India is no longer labelled as a nation of snake charmers. India is charming the entire world with the potential it has for everyone on the globe.

     This economic renaissance, which was beyond imagination, beyond contemplation, beyond dreams, a few years ago, has generated

    what is essence of our Sanatana inclusivity. Non-discriminatory, uniform, even-handed, equitable development, results, and fruits for one

    and all. Effort has been made, irrespective of any qualification, race, religion, caste, colour, that the benefit must reach those who are in the last line, and this is being done with great success.

    Bharat is the only democracy in the world that has structured democracy at the village level. Constitutionally sanctified democracy at the Village level, Municipal level, State level, and the Central level. I want, on this great occasion, to everyone reflect on what is democracy.

     Democracy is defined by freedom of expression and dialogue. If we enjoy freedom of expression and do not lend our ears to the other point of view, do not enter into dialogue, do not appreciate the other point of view, expression becomes authoritarianism.

     प्रजातन्त्र में किसी भी व्यक्ति या संस्था के लिए अहं और अहंकार का कोई स्थान नहीं है। प्रजातन्त्र का मूल तत्व है समानता, समान अधिकार, समान अवसर।

     And I therefore appeal that those who do not believe in harmony, social harmony, national harmony, must get into the thought process of Shri P. Parameswaran ji.

    How can we countenance in this land that has 5,000 years of civilisational ethos? Someone says, मैं अकेला सही हूँ, मेरी बात का कोई विकल्प नहीं है, ऐसा नहीं है। These thoughts are antithetical to our civilisational ethos. They militate against the very concept of democracy, and therefore, we must focus, alongside expression, on dialogue, dialogue enables everyone to self-assess oneself, to self-audit oneself, to be open to the other idea.

     And that was what P. Parameswaranji was doing all throughout. Ideologic discourse, ideologic debate, ideologic brainstorming should be dominating our discourse, not violence. What does our culture say, हमारी संस्कृति क्या कहती है? अभिव्यक्ति, वाद-विवाद और अनंतवाद, अनंतवाद का स्रोत हमारी सांस्कृतिक विरासत में है। अनंतवाद का ही नतीजा है कि भारत ज्ञान का भंडार था, जानकारी का भंडार था।

     If India is today a cultural centre of the world, we owe to people like P. Parameswaranji for coming to this level. If in the past, about 1200 years ago, India was the world’s repository of knowledge and wisdom, it was on account of our institutions.

     आज के दिन, कुछ हालात भयावह हैं, चिंतन और मंथन के लिए विवश करते हैं।

    We are faced with an alarmingly worrisome scenario on certain aspects. Politics has become polarised. We are faced with an alarmingly worrisome scenario on certain aspects. Vertically divisive, temperatures are ever high. The core national values and civilisational values are not the central theme. In this country where diversity is reflected in unity, this country that prides in Sanatana values of inclusivity, we cannot afford ourselves to be distanced from these core values and engage in polarised, divisive activities.

    Time for us to fall in the groove of Sanatana Dharma as enlightened by Shri P. Parameswaranji, and let me reflect on that concern. As meaningful dialogue fades, so do the pillars of cooperation, collaboration and consensus.

     I must share with you my anguish, my pain. The largest democracy’s parliament must be role model for people. It is a platform to transform aspirations of the people into reality. It has to be impregnable citadel of dialogue, debate, discussion and deliberation. And these facets were exemplified by the Constituent Assembly that worked for about three years in eighteen sessions. And what we see today? Dialogue, deliberation and others have yielded to disturbance and disruption.

     Can there be sacrilege of more intense enormity when temples of democracy are ravaged by disruption and disturbance? Our democracy has to survive. And the first test is parliamentary functioning. We face situations where national interest is relegated. Anti-national narratives take wings.

     We are living in very dangerous times. Political intolerance and reckless stance promoting partisan and personal interests at the cost of nationalism needs to be moderated. There is need for social counselling. Young minds and senior citizens must converge to generate an ecosystem. By becoming influencers of our mindset, we have a Constitution that remarkably depicts Gurukul.

     That makes reference to Ramayana. What is the message? अधर्म पर धर्म की विजय, when in fundamental rights, Part- III of the Constitution, you have a picture of Ram, Sita and Lakshman coming to Ayodhya. अंधकार से प्रकाश, धर्म की जीत अधर्म की हार। मर्यादित आचरण का संदेश और यदि अगर कहें सबका साथ सबका विश्वास इसका अंश आपको रामायण में मिलेगा ।

     भारत के संविधान में, if we go to the next part, Directive Principles of State Policy. महाभारत का वह scene है, कुरुक्षेत्र का वह दृश्य है। श्रीकृष्ण अर्जुन को उपदेश दे रहे हैं। What does it teach us? It says, लक्ष्य को ध्यान में रखो, छत को मत देखो, मछली को मत देखो, मछली की आँख को मत देखो क्योंकि आपका लक्ष्य नहीं है। आपको भेदन है। इसी तरीके से शासन का काम करते हुए, कर्तव्य निर्वहन करते हुए हमारी दृष्टि भाई-भतीजेवाद पर नहीं होनी चाहिए। The message is loud and clear. Patronism, nepotism, favouritism, are evils that cut into merit of the society. Fortunately, power corridors have been sanitised. It is obligation of every person, every Bharatiya, not only to believe in these values, but to disseminate them.

     Let me now come to demography. Demography does matter. Demography should not be confused with majoritarianism. We cannot have a society divided in these two camps. But ladies and gentlemen, the nation is faced with grim challenges when it comes to demography.

     The demography evolution must be organic. It must be natural. It must be soothing only then it reflects unity and diversity, but if demographic variations are brought about in the nature of virtual and earthquake, there is cause for concern.

     If inorganic demographic variations take place with intent to increase demographic component with the objective to secure progress, then we have to be alarmed. This is being done. This is noticeably being done. We are at a stage crossroads, where we can neither overlook nor countenance this highly destabilising development.

     We have to be extremely alert. All of you converge to preserve the pristine demographic sanctity of Bharat. The challenge is coming in varied ways. One is through allurements, temptations. Reaching out to the needy and vulnerable. Providing succour. And then, in a subtle way, suggesting change of religion which is labelled as conversions. The country allows everyone to have a religion of his or her choice. This is our fundamental right.

    This is handed to us from our civilisational wealth, but if this is tampered with, it is tweaked. ऐसा बर्दाश्त नहीं हो सकता. लालच, लोभ आधार नहीं हो सकता। कोई पीड़ा में है, दिक्कत में है,  जरूरतमंद है उसको hand-holding करते समय, धर्म परिवर्तन की तरफ मत खींचो. यह बर्दाश्त के लायक नहीं है, मैं कितनी ही कोशिश करूँ, I will not be able to express the gravity of the concern, enormity of the challenge that we are faced on account of these statized, orchestrated, financially fuelled misadventures to effect conversions.

     The third motive, which is ill-motivation towards our nation. How can a nation suffer millions of illegal migrants? Look at the number. Look at the danger they bring to this country. Everyone in this country is fired with the dream of nationalism. These people come, they demand on our employment, on our health, on our education sectors, and then become a factor in electoral politics. It is very urgent. This has to be addressed. We are cliffhanging. We must generate awareness. The mindset of the people must be activated.

     Every Bharatiya must be steered to face this challenge. And that flow is threatening our culture also. I would urge we must courageously thwart these demographic dislocations. I have indicated three. As of now in the country we have from electoral point of view areas where elections do not make much sense. We have fortresses in the country that have emerged in the last few years where the outcome of the election is always foreclosed by democratic demographic dislocations.

     Addressing these challenges which are very daunting, policy interventions alone are not sufficient. We have to appreciate and recognise these challenges as existential to our nationalism and also to our democracy. True devotion to Bharat Mata means not merely celebrating its spiritual heritage but actively protecting its erosion caused by demographic transformation. I am happy to share with you that Viksit Bharat is not a dream now. It is our object. The nation is regaining past glory. We are on way to it. Our youth will play a critical role. We must gear up to do that. Everything that is happening in the country is making us proud globally.

     I reflected on global institutions. Now look at what happened only a few days ago. More than twice the population of the US had footprint at Mahakumbh. The holy Mahakumbh. More than twice the population of the US. Imagine the size and scale of it. And look at the exemplary management, quick response, facilities everything for us to take pride. The world has not seen such organised handling of a situation at this mega scale. Nowhere on the planet this has been seen. Nowhere there has been congregation of humanity in that number on a daily basis. That defines Bharat. That surprises the world. Look at how the mobility was there.

     How health was taken care of. How public order was maintained. How hygiene was controlled. I was there. My entire family was there. That should make us proud. This is a glorifying facet of Indian civilisation. We must ever remember. From all considerations all I can say is भारत जैसा कोई दूसरा देश नहीं है। हम अत्यंत भाग्यशाली हैं परमपिता परमेश्वर के कि हमारा जन्म यहाँ हुआ। अब हमें कर्तव्य निर्वहन करना चाहिए और कर्तव्य निर्वहन का मार्ग परमेश्वरन जी ने जीवन पर्यंत सिखाया है। आदर्श प्रचारक के रूप में, देश और दुनिया की सबसे बड़ी ideological संस्था से जुड़कर– राष्ट्रीय स्वयंसेवक संघ और एक रास्ता दिखाकर अहिंसा विकल्प नहीं है।

     I am extremely grateful to the organisers for having made this great opportunity to me available. I feel blessed, I feel honoured, and I look forward to the centennial celebrations of his birthday be organised at the national level. I must recognise in the audience’s presence of another great son of Bharat, Padma Bhushan Dr. O. Rajagopal.

     My greetings to all of you. I am grateful for your patience.

     Jai Hind.

    ***

    JK/RC/SM

    (Release ID: 2107567) Visitor Counter : 82

    MIL OSI Asia Pacific News

  • MIL-OSI Economics: 5G to drive APAC mobile services market during 2024-2029, forecasts GlobalData

    Source: GlobalData

    5G to drive APAC mobile services market during 2024-2029, forecasts GlobalData

    Posted in Technology

    The total mobile communications services revenue in the Asia-Pacific (APAC) region is expected to increase at a compound annual growth rate (CAGR) of 2.8% from $301.7 billion in 2024 to $346.1 billion in 2029, driven by continued rise in mobile subscriptions, as operators continue to roll out and expand their 5G networks, reveals GlobalData, a leading data and analytics company.

    GlobalData’s report, “Asia-Pacific (APAC) Mobile Broadband Market Trends and Opportunities, 2024 Update,” reveals that mobile data services will remain the largest revenue contributing segment to the overall mobile services market in the region over the forecast period, primarily driven by the expansion and increasing adoption of high-average revenue per user (ARPU) generating 5G services in the region.

    Srikanth Vaidya, Telecom Analyst at GlobalData, says: “With 5G services launched in almost all developed markets including Australia, China, Japan, Hong Kong, and South Korea, and set to be launched soon in countries like Bangladesh and Sri Lanka, the revenue prospects for mobile data services will remain strong through the forecast period.

    “Operators like Grameenphone, Robi and Teletalk in Bangladesh and Dialog and Mobitel in Sri Lanka, for instance, have conducted 5G network trails in major cities of their respective countries and are gearing up for 5G service roll outs in 2025.”

    Government support for 5G expansion will also strengthen the mobile data services market in the region. Telecom regulatory bodies and governing authorities in countries like Australia, China, India, South Korea, Japan, and Taiwan have launched national 5G strategies/action plans, outlining the vision and guidelines to establish 5G ecosystems and drive 5G coverage expansions. These action plans include supporting initiatives such as public sector investment in 5G applications, favorable tax incentives, forums for industry-government collaboration, promotion of 5G led-technological innovations, and license arrangements to enhance spectrum use and reuse.

    China will remain the largest 5G market in the world through the forecast period with 90% of its mobile subscriptions to be on 5G network by 2029, primarily driven by the telco investments and the regulator’s efforts to expand 5G service coverage to rural areas and industrial parks, and boost 5G adoption. For instance, the Ministry of Industry and Information Technology (MIIT) reported that in 2024, China had deployed 4.19 million 5G base stations, and expected to increase to 4.5 million by end of 2025, further enhancing its network capacity and reach.

    Vaidya continues: “The average monthly data usage (excluding voice-only subscriptions) in the region is forecast to increase from 25.1GB in 2024 to 48.6GB in 2029, receiving a significant boost from 5G service launches and expansions across markets. Growing consumption of online video and social media content over smartphones, on the back of data-centric service plans offered by MNOs, will also drive the growth in mobile data usage levels through the forecast period.”

    APAC has become the center of the technological race for 5G+ supremacy. South Korea, Japan, and China have gone beyond just the deployment of 5G, to the development of the wider 5G ecosystem, thereby supporting the manufacturing and IT industries in these countries and driving IoT/M2M opportunities.

    Vaidya concludes: “While mobile data segment will continue with the growth trajectory, mobile voice service revenue will decline at a CAGR of 5.7% over the forecast period, as consumers continue to migrate towards OTT/internet-based communication services.”

    MIL OSI Economics

  • MIL-OSI Economics: Asia to dominate global CDU capacity additions through 2030, forecasts GlobalData

    Source: GlobalData

    Asia to dominate global CDU capacity additions through 2030, forecasts GlobalData

    Posted in Oil & Gas

    The global conventional refining industry is anticipated to expand considerably from 2025 to 2030, fueled by increasing energy demands from emerging markets and strategic investments in refining infrastructure. Consequently, the capacity additions of crude distillation units (CDUs) are accelerating globally, with Asia projected to lead these expansions across all regions through 2030, says GlobalData, a leading data and analytics company.

    GlobalData’s latest report, “Conventional Refineries Industry to 2030 – Capacity and Capital Expenditure Outlook with Details of All Operating and Upcoming Refineries,” reveals that Asia is likely to add CDU capacity additions of 8,874 thousand barrels per day (mbd) between 2025 and 2030, followed by the Middle East and Africa with 6,213 mbd and 5,307 mbd, respectively.

    Bhargavi Gandham, Oil and Gas Analyst at GlobalData, comments: “The increasing energy demand, driven by expanding populations and economies, especially in China, India, Pakistan, and Indonesia is anticipated to propel capacity additions in CDU across Asia.”

    India is expected to witness the highest CDU capacity additions in Asia, with 2,356 mbd capacity expected to be added by 2030. The CDU expansion project at the Vadinar refinery with a capacity of 515 mbd is the largest upcoming CDU refinery in the country in terms of capacity additions during 2025-30. It is slated to begin its operations in 2026. Other notable refineries, including Haldia III, Panipat, and Paradip, are expected to contribute significant capacity additions during the outlook period.

    GlobalData identifies China as the second highest contributor to the CDU capacity additions in Asia, approximately accounting for a quarter of the region’s capacity additions by 2030. Among the upcoming CDU projects in China, Caofeidian V leads with 401 mbd of CDU capacity to be added in 2029.

    Pakistan ranks third, contributing about 15% of the region’s total CDU capacity additions during the outlook period. The Larkana refinery leads in terms of upcoming CDU capacity with 400 mbd.

    Gandham concludes: “Several Asian nations are actively investing in the modernization and expansion of their refining infrastructure, aimed at strengthening energy security and improving refining efficiency. These initiatives are expected to drive CDU capacity additions in the region.”

    MIL OSI Economics

  • MIL-OSI China: Two sessions insights (III): Foreign students on economy, employment in China

    Source: China State Council Information Office 2

    In today’s episode of “Foreign Voices on China’s Two Sessions,” we hear from foreign students about their thoughts on economic growth, employment and digital devices in China. Join us as they share their experiences on topics expected to be central to the “two sessions.” 

    MIL OSI China News

  • MIL-OSI China: Annual session of China’s top political advisory body to run from March 4 to 10

    Source: China State Council Information Office 2

    China’s top political advisory body, the Chinese People’s Political Consultative Conference National Committee, will hold its annual session from March 4 to 10 in Beijing, a spokesperson for the session said on Monday.
    Follow China.org.cn on Twitter and Facebook to join the conversation.ChinaNews App Download

    MIL OSI China News

  • MIL-OSI China: BYD, DJI unveil intelligent vehicle-mounted drone system

    Source: China State Council Information Office

    Chinese automaker BYD and drone giant DJI have launched an intelligent vehicle-mounted drone system, aiming to transform cars into mobile entertainment and exploration platforms.

    The system, called “Lingyuan”, integrates a drone with the vehicle, offering a vertical field of view to capture travel moments in real time. It will be available across all BYD models, the company announced at a launch event on Sunday in Shenzhen, a major tech hub in southern China’s Guangdong Province.

    “Lingyuan” features a retractable car-mounted landing pad, enabling automated takeoff and landing, synchronized follow-shooting, and rapid storage and charging of the drone, according to Yang Dongsheng, BYD’s senior vice president.

    “The collaboration between BYD and DJI is far more than just placing a drone in a car,” said Wang Chuanfu, chairman and president of BYD at the launch event.

    Wang said they started from the ground up, integrating vehicle and drone technologies in a way that enhances both.

    Luo Zhenhua, president of DJI, echoed that sentiment, emphasizing that technology should not be used to create toys for the few. “It should be a tool that benefits the world,” he said, calling the partnership a breakthrough in product innovation and a re-imagination of the mobility ecosystem.

    BYD, founded in 1995 as a battery manufacturer, has been at the forefront of China’s new energy vehicle (NEV) sector. In 2024, the company saw NEV sales soar 41.26 percent year on year to over 4.27 million units.

    Established in 2006 and headquartered in Shenzhen, DJI has grown into the dominant force in the global drone industry, with its products widely used in filmmaking, agriculture, search and rescue, energy infrastructure, and more.

    MIL OSI China News

  • MIL-OSI Global: In siding with Russia over Ukraine, Trump is not putting America first. He is hastening its decline

    Source: The Conversation – Global Perspectives – By Matthew Sussex, Associate Professor (Adj), Griffith Asia Institute; and Fellow, Strategic and Defence Studies Centre, Australian National University

    Has any nation squandered its diplomatic capital, plundered its own political system, attacked its partners and supplicated itself before its far weaker enemies as rapidly and brazenly as Donald Trump’s America?

    The fiery Oval Office meeting between Trump and Ukrainian President Volodymyr Zelensky on Friday saw the American leader try to publicly humiliate the democratically elected leader of a nation that had been invaded by a rapacious and imperialistic aggressor.

    And this was all because Zelensky refused to sign an act of capitulation, criticised Putin (who has tried to have Zelensky killed on numerous occasions), and failed to bend the knee to Trump, the country’s self-described king.

    The Oval Office meeting became heated in a way that has rarely been seen between world leaders.

    What’s worse is Trump has now been around so long that his oafish behaviour has become normalised. Together with his attack dog, Vice President JD Vance, Trump has thrown the Overton window – the spectrum of subjects politically acceptable to the public – wide open.

    Previously sensible Republicans are now either cowed or co-opted. Elon Musk’s so-called Department of Government Efficiency (DOGE) is gutting America’s public service and installing toadies in place of professionals, while his social media company, X, is platforming ads from actual neo-Nazis.

    The FBI is run by Kash Patel, who hawked bogus COVID vaccine reversal therapies and wrote children’s books featuring Trump as a monarch. The agency is already busily investigating Trump’s enemies.

    The Department of Health and Human Services is helmed by Robert F. Kennedy Jr., a vaccine denier, just as Americans have begun dying from measles for the first time in a decade. And America’s health and medical research has been channelled into ideologically “approved” topics.

    At the Pentagon, in a breathtaking act of self-sabotage, Defence Secretary Pete Hegseth has ordered US Cyber Command to halt all operations targeting Russia.

    And cuts to USAID funding are destroying US soft power, creating a vacuum that will gleefully be filled by China. Other Western aid donors are likely to follow suit so they can spend more on their militaries in response to US unilateralism.

    What is Trump’s strategy?

    Trump’s wrecking ball is already having seismic global effects, mere weeks after he took office.

    The US vote against a UN General Assembly resolution condemning Russia for starting the war against Ukraine placed it in previously unthinkable company – on the side of Russia, Belarus and North Korea. Even China abstained from the vote.

    In the United Kingdom, a YouGov poll of more than 5,000 respondents found that 48% of Britons thought it was more important to support Ukraine than maintain good relations with the US. Only 20% favoured supporting America over Ukraine.

    And Trump’s bizarre suggestion that China, Russia and the US halve their respective defence budgets is certain to be interpreted as a sign of weakness rather than strength.

    The oft-used explanation for his behaviour is that it echoes the isolationism of one of his ideological idols, former US President Andrew Jackson. Trump’s aim seems to be ring-fencing American businesses with high tariffs, while attempting to split Russia away from its relationship with China.

    These arguments are both economically illiterate and geopolitically witless. Even a cursory understanding of tariffs reveals that they drive inflation because they are paid by importers who then pass the costs on to consumers. Over time, they are little more than sugar pills that turn economies diabetic, increasingly reliant on state protections from unending trade wars.

    And the “reverse Kissinger” strategy – a reference to the US role in exacerbating the Sino-Soviet split during the Cold War – is wishful thinking to the extreme.

    Putin would have to be utterly incompetent to countenance a move away from Beijing. He has invested significant time and effort to improve this relationship, believing China will be the dominant power of the 21st century.

    Putin would be even more foolish to embrace the US as a full-blown partner. That would turn Russia’s depopulated southern border with China, stretching over 4,300 kilometres, into the potential front line of a new Cold War.

    What does this mean for America’s allies?

    While Trump’s moves have undoubtedly strengthened the US’ traditional adversaries, they have also weakened and alarmed its friends.

    Put simply, no American ally – either in Europe or Asia – can now have confidence Washington will honour its security commitments. This was brought starkly home to NATO members at the Munich Security Conference in February, where US representatives informed a stunned audience that America may no longer view itself as the main guarantor of European security.

    Vice President JD Vance delivers a strong message to European leaders.

    The swiftness of US disengagement means European countries must not only muster the will and means to arm themselves quickly, but also take the lead in collectively providing for Ukraine’s security.

    Whether they can do so remains unclear. Europe’s history of inaction does not bode well.

    US allies also face choices in Asia. Japan and South Korea will now be seriously considering all options – potentially even nuclear weapons – to deter an emboldened China.

    There are worries in Australia, as well. Can it pretend nothing has changed and hope the situation will then normalise after the next US presidential election?

    The future of AUKUS, the deal to purchase (and then co-design) US nuclear powered submarines, is particularly uncertain.

    Does it make strategic sense to pursue full integration with the US military when the White House could just treat Taipei, Tokyo, Seoul and Canberra with the same indifference it has displayed towards its friends in Europe?

    Ultimately, the chaos Trump 2.0 has unleashed in such a short amount of time is both unprecedented and bewildering. In seeking to put “America First”, Trump is perversely hastening its decline. He is leaving America isolated and untrusted by its closest friends.

    And, in doing so, the world’s most powerful nation has also made the world a more dangerous, uncertain and ultimately an uglier place to be.

    Matthew Sussex has received funding from the Australian Research Council, the Atlantic Council, the Fulbright Foundation, the Carnegie Foundation, the Lowy Institute and various Australian government departments and agencies.

    ref. In siding with Russia over Ukraine, Trump is not putting America first. He is hastening its decline – https://theconversation.com/in-siding-with-russia-over-ukraine-trump-is-not-putting-america-first-he-is-hastening-its-decline-251140

    MIL OSI – Global Reports

  • MIL-OSI: GRE System Selects Lumissil’s CG5317 for Its EV Charging Solutions

    Source: GlobeNewswire (MIL-OSI)

    MILPITAS, Calif., March 03, 2025 (GLOBE NEWSWIRE) — GRE System, a leading provider of Electric Vehicle Supply Equipment (EVSE), has chosen Lumissil’s CG5317 to enhance the connectivity and performance of its next-generation EV charging solutions. This collaboration strengthens GRE System’s ability to deliver efficient, reliable, and future-ready charging infrastructure for the growing EV market.

    Lumissil’s CG5317 is designed to meet stringent automotive and EVSE requirements, offering compliance with ISO15118 standard, DIN 70121, J3400 and all HomePlug Green PHY requirements. Its advanced capabilities ensure interoperability with every Electric Vehicles (EV) and the highest uptime. Additionally, Lumissil provides development tools to guarantee that customers meet all requirements and build the most efficient, highest-quality products. These features enable seamless communication between EV chargers and EV, ensuring a smarter and more connected charging experience.

    “GRE System’s commitment to innovation aligns perfectly with our mission to drive next-generation connectivity in the EV industry,” said Nadav Katsir, VP & GM Connectivity Unit at Lumissil. “We are excited to support their advanced EV charging solutions with our CG5317, enabling enhanced performance and seamless integration.”

    “Lumissil’s technology and expertise have been instrumental in advancing our EVSE solutions,” Seung Uk Lee, CEO at GRE System. “As we continue to expand our charging portfolio, we look forward to working closely with Lumissil to integrate their cutting-edge connectivity solutions into our designs.”

    About Lumissil Microsystems
    Lumissil Microsystems specializing in analog/mixed-signal products for automotive, communications, industrial, and consumer markets. Lumissil’s primary products are LED drivers for low to mid-power RGB color mixing and high-power lighting applications. Other products include audio, sensors, high-speed wire communications, optical networking, and application specific microcontrollers. Lumissil Microsystems has worldwide offices in the US, Taiwan, Japan, Singapore, mainland China, Europe, Hong Kong, India, Israel, and Korea. Website: https://www.lumissil.com

    About GRE System
    GRE System is a leader in EVSE (Electric Vehicle Supply Equipment) and specializes in real-time power metering and energy data analytics. GRE System’s product line covers all AC charging requirements for EV, from 3.5kW CP100 to 7 ~ 11kW CP700 series. The latest CP700P supports ISO 15118-2 AC charging and is being commercially deployed, partnering with Pluglink, a leading CPO (Charge point Operator) in Korea. Learn more at www.gresystem.co.kr.

    Contacts:

    Lumissil Microsystems:
    Raphi Zadicario
    rzadicario@lumissil.com
    www.lumissil.com 

    GRE System:
    Jeong Soo Hwang
    jshwang@gresystem.co.kr
    www.gresystem.co.kr 

    The MIL Network

  • MIL-OSI China: China hopes for deeper insights

    Source: China State Council Information Office 3

    Inspired by traditional Chinese calligraphy scrolls, the pavilion’s architectural design embodies the theme of “Building a Community of Life for Man and Nature — Future Society of Green Development.” [Photo/Xinhua]

    The construction and exhibition setup of the China Pavilion for the 2025 Osaka Expo was inspected on Sunday.

    Inspired by traditional Chinese calligraphy scrolls, the pavilion’s architectural design embodies the theme of “Building a Community of Life for Man and Nature — Future Society of Green Development.”

    The pavilion will feature three sections to showcase China’s traditional ecological wisdom, modern green development initiatives, and its vision of global cooperation in fostering a sustainable future.

    Chinese Consul General in Osaka Xue Jian highlighted the expo as a valuable opportunity for global audiences to gain deeper insights into China. He expressed hope that visitors from Japan and beyond would explore the pavilion and experience China’s ancient civilization and progress in modernization.

    Curated by a Chinese exhibition team, the pavilion incorporates advanced display technologies and emphasizes immersive and interactive experiences.

    The expo will be held from April 13 to Oct. 13. 

    MIL OSI China News

  • MIL-Evening Report: Dutton says as PM he would ‘lobby’ Donald Trump to reconsider Ukraine stand

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Peter Dutton says if he became prime minister he would lobby US President Donald Trump “to reconsider his position” on Ukraine.

    The opposition leader, who previously rejected Trump’s description of Ukraine’s President Volodymyr Zelensky as a “dictator”, has gone further in distancing himself from Trump after the shouting match in the Oval Office, when Trump and Vice President JD Vance berated Zelensky.

    “I was disappointed by the scenes out of the White House,” Dutton told a Monday news conference. “I believe that President Zelensky requires the support of European countries, of the United States, and countries like Australia as well.”

    He said the United States has been “an incredibly important ally” for Australia and he regarded it as a reliable one.

    But making decisions in Australia’s best interests sometimes meant “standing up to your friends and to those traditional allies because our views have diverged.

    “In relation to Ukraine, the Australian view at the moment is different to the United States, and my job as prime minister will be to lobby the president of the United States to reconsider his position in relation to Ukraine. Because I think it’s in all of our collective best interests if we’re able to provide support to Ukraine, and that’s something I’m dedicated to.”

    Dutton’s criticism of Trump is at odds with some in his base and some right wing commentators, who are wedded to Trump, right or wrong.

    Unlike policy on the Middle East, where bipartisanship has broken, both sides of Australian politics have remained firmly behind Ukraine from the start of the war. There is no sign of the bipartisanship being under pressure.

    Australia has supplied Ukraine with about $1.5 billion worth of assistance, of which $1.3 billion is military aid.

    Prime Minister Anthony Albanese, speaking at the start of Monday’s cabinet’s meeting, reiterated Australia’s strong backing for the embattled country in its war with Russia.

    “We regard this as an issue of doing what’s right, but also what is in Australia’s national interest.

    “The brave people of Ukraine, led so extraordinarily by President Zelensky, are fighting not just for their national sovereignty and for their democracy. They are fighting for the international rule of law.

    “And it is an easy choice that Australia has made.”

    On Sunday Treasurer Jim Chalmers said “I think President Zelensky is a hero”.

    Dutton on Monday used similar language. “President Zelensky is a modern-day hero. He’s a war hero and he deserves support.”

    On another front – Australia’s bid to avoid the US tariffs on aluminium and steel – while there is bipartisanship, the opposition is from time to time critical of the government’s handling of the issue.

    Shadow finance minister Jane Hume said on Monday: “The Coalition wholeheartedly supports the government’s efforts to make sure that these tariffs are not imposed by the US.

    “We would hope that the government will pull out all stops here in order to make sure that Australia’s national interests, our economic interests, are protected. I do note that Anthony Albanese is the only member of the Quad, which is one of our most important diplomatic relationships with the US, that hasn’t met directly with Donald Trump yet.”

    The new tariffs are due to come into effect on March 12.

    Australia has been further alarmed by an article published late last week by Trump’s trade advisor, Peter Navarro.

    Navarro wrote: “Consider Australia. Its heavily subsidised smelters operate below cost, giving them an unfair dumping advantage, while Australia’s close ties to China further distort global aluminium trade”.

    “Australia and Canada represent frontal assaults on our aluminium markets.”

    Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Dutton says as PM he would ‘lobby’ Donald Trump to reconsider Ukraine stand – https://theconversation.com/dutton-says-as-pm-he-would-lobby-donald-trump-to-reconsider-ukraine-stand-251256

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: Suggestions, proposals at NPC & CPPCC sessions deliver tangible benefits

    Source: China State Council Information Office 2

    The Chinese government has turned thousands of suggestions and proposals from national lawmakers and political advisors at the country’s top political meetings last year into concrete actions, benefiting people’s livelihoods and economic development, said a spokesperson of the State Council Information Office (SCIO) on Friday.

    On Feb. 28, 2025, the State Council Information Office holds a policy briefing in Beijing on handling suggestions from deputies to the National People’s Congress and proposals of the National Committee of the Chinese People’s Political Consultative Conference in 2024. [Photo by Liu Jian/China SCIO]
    In 2024, government departments reviewed and acted on 8,783 suggestions from deputies of the National People’s Congress (NPC) and 4,813 proposals from members of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), addressing key public concerns, said Xing Huina, a spokesperson of the SCIO.
    More than 5,000 recommendations were adopted by various government departments, leading to over 2,000 policy measures that tackled major economic and social issues, she said.

    Senior residents order a meal at Qingshuiwan community canteen in Yinchuan, Ningxia Hui autonomous region, Aug. 1, 2024. [Photo/Xinhua]
    One standout area is eldercare, a growing priority as China’s population ages. Tang Chengpei, vice minister of civil affairs, highlighted how 87 suggestions and proposals from the “two sessions” shaped nationwide efforts to improve eldercare services. “Developing ‘near-home’ eldercare allows seniors to live comfortably in familiar surroundings, which aligns with both national conditions and public expectations,” Tang said.
    To this end, the government has expanded the national three-tiered eldercare network, establishing 446 demonstration centers at the county level and developing 367,000 community-based eldercare facilities.
    The ministry is committed to improving home-based services, having supported the establishment of 75,000 senior dining centers and the renovation of over 2 million homes to enhance accessibility in recent years, according to Tang. These initiatives aim to ensure seniors receive care at the doorsteps of their own homes.
    Efforts to renovate urban villages were also significantly accelerated following suggestions from NPC deputies. Jiang Wanrong, vice minister of housing and urban-rural development, said the input from the deputies “played a crucial role in advancing urban village renovations.”
    “We worked closely with the deputies who submitted suggestions, conducting on-site inspections and holding multiple discussions to ensure effective implementation,” Jiang said. 
    At the news briefing, he highlighted key measures taken, including prioritizing projects in areas with urgent public demand and serious safety risks, as well as expanding policy coverage. “We have now extended urban village renovation efforts beyond 35 major cities to all prefecture-level cities,” he said. 
    In 2024 alone, 1,863 urban village renovation projects were launched, benefiting about 1.37 million households. 
    In addition, financial support policies were enhanced last year to address concerns raised by lawmakers, political advisors, and the public in key areas such as employment, healthcare, and education, according to Vice Finance Minister Guo Tingting.

    Job seekers attend a job fair held for the 2025 graduates of the Heilongjiang University in Harbin, Heilongjiang province, Dec. 23, 2024. [Photo/Xinhua]
    To stabilize employment, the finance ministry extended reduced unemployment and work injury insurance rates and enhanced job retention and skill improvement subsidies in 2024. 
    Healthcare support has also expanded. In 2024, the per capita government subsidy for urban and rural residents’ medical insurance increased by 30 yuan (US$4.12) to 670 yuan annually.
    From the spring semester of 2024, China raised the national baseline for living subsidies for students from economically difficult families, benefiting around 20 million students who received compulsory education, Guo said. Higher education support has also been strengthened with expanded national scholarships and student loans, benefiting 23 million students, she added.
    To support vulnerable groups, the Ministry of Finance has enhanced the dynamic adjustment mechanism for subsistence allowances, ensuring the safety net for those in need, Guo said. By the end of 2024, the average minimum subsistence allowance reached 798 yuan per month in urban areas and 594 yuan in rural areas.
    In celebration of the 75th anniversary of the People’s Republic of China last year, a one-time subsidy of 1,000 yuan per person was also distributed to almost 11.54 million people living with difficulties, the vice finance minister said.

    MIL OSI China News

  • MIL-OSI China: Chinese firm unveils more reliable, efficient battery

    Source: China State Council Information Office

    With the formal implementation of the new national standards, GB43854-2024 Safety Technical Specification of Lithium-ion Battery for Electric Bicycle and GB40559-2024 Lithium-ion Cells and Batteries Used in Electric Self-Balancing Vehicle and Scooters — Safety Technical Specification, the electric two-wheeled vehicle market is advancing toward greater standardization and regulation.

    In response to these developments, BAK Battery has officially launched the PRO-M High-Safety Battery, which not only complies with the new standards but also delivers dual upgrades in safety and performance, providing a more reliable and efficient energy solution for short-distance travel.

    For instance, BAK said its PRO-M High-Safety Battery could pass the industry’s most stringent nail penetration tests, ensuring compliance with the safety and performance requirements of the new national standards.

    As the electric two-wheeled vehicle market trends toward higher-end, personalized, and intelligent designs, consumer demand for mid-to-high-end products and high-performance batteries continues to rise. The PRO-M 18650 High-Safety Battery boasts a capacity of 2.0Ah, an energy density of 170Wh/Kg, and supports 5C continuous discharge.

    Meanwhile, the same series’ 21700 battery offers a capacity of 3.0Ah, an energy density of 180Wh/Kg, and supports 4C continuous discharge. Both batteries exhibit exceptional performance with a wide temperature range and long cycle life, capable of stable discharge between -30 C and 70 C, with a cycle life exceeding 1,000 cycles.

    Looking ahead, the battery manufacturer said it plans to leverage its innovative capabilities to expand the applications of its cylindrical battery portfolio into broader safety-related sectors, including emergency security and specialized equipment.

    MIL OSI China News

  • MIL-OSI China: NEV makers see sales surge in February

    Source: China State Council Information Office

    Major new energy vehicle manufacturers in China saw robust sales growth last month, after a lukewarm start in January.

    BYD delivered 322,846 vehicles in February, marking a 164 percent year-on-year increase.

    The company’s Dynasty and Ocean series contributed 304,673 units, while its premium brands—Fang Cheng Bao, Denza, and Yangwang—sold 4,942, 8,513, and 105 vehicles, respectively.

    Notably, BYD’s overseas sales surged, with 67,025 vehicles sold, underscoring its growing global presence.

    Xpeng retained its position as the leader among startups, delivering 30,453 vehicles in February, a remarkable 570 percent increase compared to the same period last year.

    This marks the fourth consecutive month that the Guangzhou-based startup has surpassed the 30,000-unit delivery milestone.

    Xpeng also highlighted the growing adoption of its advanced driver-assistance systems. During the Spring Festival holiday, its ADAS usage saw significant growth, with total driving distance and duration increasing by 98.2 percent and 103.5 percent, respectively.

    Li Auto followed closely, delivering 26,263 vehicles in February, a 29.7 percent year-on-year increase. Li Auto’s CEO, Li Xiang, expressed confidence in the company’s first pure electric SUV, the Li i8, after receiving positive feedback on its design.

    Leapmotor continued its upward trajectory, delivering 25,287 vehicles in February, a 285 percent year-on-year increase. The launch of the new Leapmotor T03 in late February further boosted sales.

    Xiaomi’s entry into the automotive market has been met with overwhelming demand. The Xiaomi SU7 Ultra, which went on sale recently, received 6,900 orders within 10 minutes and surpassed 10,000 orders in just two hours.

    In February, Xiaomi delivered over 20,000 SU7 vehicles, maintaining a streak of five consecutive months with deliveries exceeding 20,000 units. Cumulative deliveries have now surpassed 180,000 vehicles.

    Nio delivered 13,192 vehicles in February, a 62.2 percent year-on-year increase. Its namesake Nio brand accounted for 9,143 units, while its subsidiary brand, ONVO, delivered 4,049 units. Nio’s flagship electric sedan, the ET9, is in the final stages of preparation for deliveries, with test drives scheduled to begin in late March.

    Zeekr, following its recent restructuring, delivered 31,277 vehicles in February. The Zeekr brand contributed 14,039 units, an 86.9 percent year-on-year increase, while Lynk & Co delivered 17,238 units, with new energy vehicles making up 47.9 percent of sales.

    Voyah also saw significant growth, selling 8,013 vehicles in February, a 152 percent year-on-year increase. Cumulative deliveries for the first two months of 2025 reached 16,022 units.

    Voyah CEO Lu Fang attributed the growth to a surge in orders since the beginning of the year and emphasized the company’s commitment to meeting rising customer demand.

    MIL OSI China News

  • MIL-OSI: Exosens delivers very strong full-year 2024 results, overperforming on its IPO guidance; Sustained growth dynamic anticipated for 2025-2026

    Source: GlobeNewswire (MIL-OSI)

    EXOSENS DELIVERS VERY STRONG FULL-YEAR 2024 RESULTS, OVERPERFORMING ON ITS IPO GUIDANCE

    SUSTAINED GROWTH DYNAMIC ANTICIPATED FOR 2025-2026

    FY 2024 HIGHLIGHTS

    • Strong revenue growth of +35.0%, above IPO guidance, to €394.1m in 2024, reflecting dynamic like-for-like growth (+24.9%) and successful integration of bolt-on acquisitions
    • Significant increase in profitability, with adjusted EBITDA of €118.5m in 2024 (+37.8%), representing a best-in-class margin of 30.1% (vs. 29.5% in 2023), above IPO guidance and above top range of estimated landing given in January 2025
    • Net profit of €30.7m in 2024, recording a strong growth of +66.7% over 2023
    • Robust balance sheet with a net leverage of 1.2x at year-end 2024, enabling the execution of our growth strategy
    • Proposed payment of a €0.10 cash dividend per share for the 2024 fiscal year, for the first time since Exosens’ IPO

    OUTLOOK FOR 2025 AND THE 2024-2026 PERIOD: SUSTAINED GROWTH DYNAMIC DRIVEN BY DEFENSE TAILWINDS

    • Continued strong performance expected in 2025, with revenue growth in the high-teens and adjusted EBITDA growth in the low twenties
    • Global market demand is higher than initially expected, with NATO and Tier-1 allies continuing to ramp up their procurement of night vision systems further improving the perspectives, which implies a high-teens 2024-2026 adjusted EBITDA CAGR
    • In order to meet this demand Exosens decided to invest €20m to expand its production capacity not only in Europe but also in the US with, for the first time, a new production plant in the US, which will give us additional market opportunities

    Mérignac (France), 3 March 2025 – Exosens (EXENS; FR001400Q9V2), a high-tech company focused on providing mission and performance-critical amplification, detection and imaging technology, today publishes its results for the fiscal year ended 31 December 2024. At its 28 February 2025 meeting, Exosens’ Board of Directors approved the consolidated financial statements for 2024.

    “We are pleased to announce our first results as a publicly-listed company, with 2024 performance exceeding our IPO guidance. In a dynamic defense market, driven by rising geopolitical tensions and increasing defense budgets across NATO countries and Tier-1 allies, Exosens fully benefited from these structural trends and is well-positioned to continue doing so. 2024 was a pivotal year, we flawlessly executed our strategy, reinforcing our leadership in mission-critical technologies, surpassing expectations, and further enhancing our best-in-class margins, that set us apart from our peers.

    Amplification remains a key driver of our growth with higher-than-expected market demand, necessitating capacity expansion. As a result, we have decided to scale up capacity in Europe and enter the US market, anticipating sustained mid-term demand and emerging opportunities.

    We are also accelerating the growth of D&I segment, which achieved +7% like-for-like growth in 2024, driven by an improved product mix, market share gains, and successful acquisitions. These markets are benefiting from AI-driven advancements in industrial control, nuclear energy, and healthcare research.

    With a focus on sustainable growth, we remain committed to customer satisfaction, innovation, operational excellence, and disciplined acquisitions. Backed by a strong balance sheet and a dynamic market environment, we are well-positioned to accelerate expansion and create value for both customers and shareholders, including our first dividend payment.”, commented Jérôme Cerisier, CEO of Exosens.

    Key financial indicators

    In € millions FY 2023 FY 2024 Change (%) LFL1(%)
    Revenue 291.8 394.1 +35.0% +24.9%
             
    Adjusted gross margin 131.1 189.6 +44.7%
    As a % of revenue 44.9% 48.1% +320bps
             
    Adjusted EBITDA 86.0 118.5 +37.8%
    As a % of revenue 29.5% 30.1% +60bps
             
    Adjusted EBIT 66.1 95.3 +44.1%
    As a % of revenue 22.7% 24.2% +150bps
             
    Operating income 48.3 73.0 +51.2%
    As a % of revenue 16.5% 18.5% +200bps
             
    Net profit 18.4 30.7 +66.7%
    Net profit ex. PPA amortization 27.8 41.5 +49.2%
             
    Free cash flow 20.5 55.4 +170.0%
    Cash conversion (%) 69.3% 74.1% +480bps
             
    Net debt 302.3 144.1 (47.7)%
    Leverage ratio (x) 3.3x 1.2x (2.1)x
    1Like-for-like.

    Strong revenue performance in FY 2024 in a dynamic market environment, outperforming our IPO guidance

    In € millions FY 2023 FY 2024 Change (%) Like-for-like (%)
    Amplification 209.9 280.2 +33.5% +33.5%
    Detection & Imaging 82.5 117.5 +42.5% +6.8%
    Eliminations & Other (0.6) (3.7) n/a n/a
    Total revenue 291.8 394.1 +35.0% +24.9%

    Exosens posted a strong performance in FY 2024, outperforming its IPO guidance and continuing its strong growth trajectory, with consolidated revenue totaling €394.1 million, which represented a significant growth of +35.0% (or +€102.3 million) compared to FY 2023, of which+24.9% year-on-year on a like-for-like basis, mainly driven by a strong demand in Defense end-markets.

    Amplification revenue reached €280.2 million in FY 2024, reflecting a significant growth of +33.5% compared to FY 2023, driven by stronger sales volumes and increased share of higher-performance image intensifier tubes for Defense’s night vision applications.

    The global night vision market is benefiting from growing demand, driven by increasing defense budgets and the need for armies worldwide to enhance their night fighting capabilities, including the ongoing shift from monocular to binocular goggles. The return of high-density combat has underscored the critical importance of night operation abilities as a key tactical advantage. NATO and Tier-1 allies continued to ramp up their procurement of night vision systems in 2024, though they are still far from reaching the targeted equipment rate.

    Reflecting this increasing market demand, Exosens, worldwide leader, has benefited from its position as the strategic supplier of NATO and Tier-1 allies for night vision image intensifier tubes with a number of major business wins in markets such as Germany, the UK, Poland, Belgium, Finland, France or Australia, among others.

    On the M&A front, the Group announced agreement to acquire NVLS, a specialist in man-portable night vision and thermal devices, in October 2024, which will accelerate Exosens’ mid-term capability to develop next gen googles with innovative solutions combining night vision and thermal devices. Closing is expected to occur in the coming months, pending customary clearances and approvals.

    Detection & Imaging revenue totaled €117.5 million in FY 2024, representing an increase of +42.5% compared to FY 2023, mainly driven by a positive product mix and accelerated growth from 2023 bolt-on acquisitions (Telops, El-Mul, and Photonis Germany1).

    Like-for-like growth reached +6.8% in FY 2024, accelerating from the +6.0% recorded in 9M 2024. This strong performance was driven by market share gains following new product launches, as well as growing demand in our key high-growth end markets (Life Sciences, Nuclear and Defense). These factors more than offset the softness in Industrial Control markets (China, machine vision).

    Throughout the year, Exosens continued to execute on its disciplined bolt-on strategy with two synergistic acquisitions: Centronic (radiation detection solutions), in July, reinforcing our position as the key European leader in nuclear instrumentation, and LR Tech (FTIR spectrometry) in September, complementing Telops’ products to strengthen our position in high-end spectroscopy instruments. Additionally, in November, Exosens announced the acquisition of Noxant, a specialist in high-performance cooled infrared cameras, set to close in Q1 2025.

    Significant improvement in adjusted gross margin in FY 2024

      FY 2023 FY 2024 Change
      In €m % of sales In €m % of sales In %
    Amplification 93.3 44.4% 132.4 47.3% +42.0%
    Detection & Imaging 37.7 45.7% 57.1 48.6% +51.6%
    Eliminations & Other 0.1 n/a 0.1 n/a n/a
    Adjusted gross margin 131.1 44.9% 189.6 48.1% +44.7%

    Exosens posted a strong increase in adjusted gross margin at Group level and across both segments in FY 2024, mainly due to higher sales volumes, improved yields and a favorable product mix. The Group’s adjusted gross margin stood at €189.6 million in FY 2024, reflecting a growth of +44.7% compared to FY 2023. Adjusted gross margin rate reached 48.1% in FY 2024, marking a significant improvement of 320 basis points year-on-year.

    Adjusted gross margin of the Amplification segment totaled €132.4 million in FY 2024 (+42.0% vs. FY 2023), representing a margin of 47.3% (vs. 44.4% in FY 2023). This strong increase in margin rate mainly reflected higher sales volumes, improved yields and a favorable product mix.

    Adjusted gross margin of the Detection & Imaging segment amounted to €57.1 million in FY 2024 (+51.6% vs. FY 2023), representing a margin of 48.6% (vs. 45.7% in FY 2023). This improved margin rate was mainly driven by a positive product mix, improved yields and supply-chain cost synergies.

    Continued strong operational execution driving further profitability increase in FY 2024

    Exosens reported a further increase of its profitability at Group level in FY 2024, reinforcing best-in-class margin, driven by strong business momentum and continued operational excellence.

    Adjusted EBITDA amounted to €118.5 million in FY 2024, representing a sharp growth of +37.8% (or +€32.5 million) compared to €86.0 million in FY 2023. As a result, adjusted EBITDA margin improved by 60 basis points to reach 30.1% in FY 2024 (vs. 29.5% in FY 2023).

    Adjusted EBIT totaled €95.3 million in FY 2024, posting a strong growth of +44.1% (or +€29.2 million) compared to €66.1 million in FY 2023. As a result, adjusted EBIT margin increased by 150 basis points to reach 24.2% in FY 2024 (vs. 22.7% in FY 2023).

    The Group’s recorded an operating income of €73.0 million in FY 2024, representing a significant increase of +51.2% (or €24.7 million) compared to €48.3 million in FY 2023. As a percentage of sales, operating margin improved by 200 basis points to reach 18.5% (vs. 16.5% in FY 2023).

    Significant growth in net income, up +67% in FY 2024

    Exosens recorded a significant increase in net profit, reaching €30.7 million in FY 2024, up by +66.7% (or €12.3 million) compared to FY 2023. Adjusted for PPA amortization, net profit was €41.5 million in FY 2024, representing a growth of +49.2% (or €13.6 million) compared to FY 2023.

    Strong increase in free cash flow, up +€35 million in FY 2024

    Exosens recorded a significant increase in free cash flow to €55.4 million in FY 2024 (vs. €20.5 million in FY 2023). This strong increase was achieved despite one-off expenses related to IPO consulting fees. In addition, the Group achieved a higher cash conversion rate of 74.1% in FY 2024 compared to 69.3% in FY 2023, with increased investment towards the end of the year to support future growth.

    Sustained R&D efforts in FY 2024 to support long-term growth and market leadership

    R&D expenses grew by +35.0% to €30.4 million (7.7% of sales) in FY 2024 compared to €22.5 million (7.7% of sales) in FY 2023. Continued efforts in R&D like the development of 5G image intensifier tubes for Defense’s night vision applications, or next gen detectors for Life Sciences and Nuclear will sustain the group’s future growth and maintain its leading positions.

    Completion of the first phase of capacity expansion

    Capital expenditure reached €27.9 million in FY 2024 compared to €23.7 million in FY 2023, marking a reduction in capex to sales ratio to 7.1% (vs. 8.1% in FY 2023) following the completion of capacity expansion resulting from investments started in 2022-2023.

    Strengthened capital structure, fully supporting our growth strategy

    Following Exosens’ successful IPO in June 2024, which included a capital increase of €180 million and a full debt refinancing (securing two new credit facilities of a total amount of €350 million), the Group has significantly deleveraged, with its net debt more than halving to €144.1 million as at 31 December 2024 compared to €302.3 million as at 31 December 2023. Accordingly, the leverage ratio decreased significantly to 1.2x as at 31 December 2024, as compared to a ratio of 3.3x as at 31 December 2023, providing the Group with ample capacity to pursue its investments in growth.

    Dividend

    The Company’s Board of Directors decided, during its meeting on 28 February 2025, to propose the payment of a €0.10 cash dividend per share for the 2024 fiscal year. This amount will be subject to the approval of the Annual General Shareholders’ Meeting, which will take place on 23 May 2025.

    Outlook for 2025 and the 2024-2026 period: Sustained growth dynamic driven by defense tailwinds

    Exosens expects a continued strong performance in 2025, with revenue growth in the high-teens and adjusted EBITDA growth in the low twenties compared to 2024.

    The Group expects a high-teens 2024-2026 adjusted EBITDA CAGR and a cash conversion2ratio in the range of 70%-75% over the period, taking into account capacity investment in Europe and in the US.

    Furthermore, the Group intends to pursue its growth strategy, at a pace consistent with historical trend, while maintaining a leverage ratio3of around 2x.

    Webcast

    Jérôme Cerisier, CEO and Quynh-Boi Demey, CFO will hold a conference call and webcast to discuss Exosens’ full-year 2024 results on Monday, 3 March 2025 at 9:00am CET. This presentation will be followed by a Q&A session and can be accessed via the following link:
    https://channel.royalcast.com/landingpage/exosens-en/20250303_1/

    The press release and the presentation will be available in the Investor Relations section on Exosens’ website at https://www.exosens.com/investors.

    Audit procedures in respect of the consolidated financial statements are complete and the corresponding audit report of the auditors is in the process of being delivered.

    Financial Calendar

    • 28/04/2025: Q1 2025 revenue & adj. gross margin (publication before market opening);
    • 29/04/2025: Publication of 2024 Universal Registration Document;
    • 23/05/2025: Annual general meeting;
    • 31/07/2025: H1 2025 results (publication before market opening);
    • 27/10/2025: Q3 2025 revenue & adj. gross margin (publication before market opening).

    About Exosens

    Exosens is a high‐tech company, with more than 85 years of experience in the innovation, development, manufacturing and sale of high‐end electro‐optical technologies in the field of amplification, detection and imaging. Today, it offers its customers detection components and solutions such as travelling wave tubes, advanced cameras, neutron & gamma detectors, instrument detectors and light intensifier tubes. This allows Exosens to respond to complex issues in extremely demanding environments by offering tailor‐made solutions to its customers. Thanks to its sustained investments, Exosens is internationally recognized as a major innovator in optoelectronics, with production and R&D carried out on 12 sites, in Europe and North America and with over 1,700 employees. Exosens is listed on compartment A of the regulated market of Euronext Paris ﴾Ticker: EXENS – ISIN: FR001400Q9V2﴿. Exosens is a member of Euronext Tech Leaders segment and is also included in several indices, including CAC All-Tradable, CAC Mid & Small, FTSE Total Cap and MSCI France Small Cap. For more information: www.exosens.com.

    Investor Relations

    Laurent Sfaxi, l.sfaxi@exosens.com

    Media Relations

    Brunswick Group, exosens@brunswickgroup.com
    Laetitia Quignon, + 33 6 83 17 89 13
    Nicolas Buffenoir, + 33 6 31 89 36 78

    APPENDICES

    Reconciliation of adjusted EBITDA and adjusted EBIT

    In € millions FY 2023 FY 2024
    Operating profit 48.3 73.0
    Depreciation, amortization and impairment – net 29.2 34.1
    Other income and expenses 4.6 3.9
    EBITDA 82.0 111.0
    Share-based payments 1.6 2.9
    One-off costs 2.4 4.5
    Adjusted EBITDA 86.0 118.5
    Depreciation, amortization and impairment ex. PPA amortization (19.9) (23.3)
    Adjusted EBIT 66.1 95.3

    Reconciliation of free cash flow and cash conversion

    In € millions FY 2023 FY 2024
    Adjusted EBITDA 86.0 118.5
    Capitalized research and development costs (8.6) (11.0)
    Adjusted EBITDA after capitalized R&D costs 77.4 107.5
    Change in working capital4 (21.4) (10.7)
    Tax paid (6.9) (6.7)
    Maintenance capital expenditure4 (6.4) (12.5)
    Others (4.9) (7.0)
    Free cash flow before growth 37.8 70.7
    Growth capital expenditure4 (17.3) (15.3)
    Free cash flow after growth 20.5 55.4
         
    Adjusted EBITDA after capitalized R&D costs and capital expenditure (A) 53.7 79.6
    Adjusted EBITDA after capitalized R&D costs (B) 77.4 107.5
    Cash conversion (%) (A) / (B) 69.3% 74.1%

    Consolidated statement of income

    In € millions FY 2023 FY 2024
    Revenue 291.8 394.1
    Cost of sales (76.0) (103.0)
    Other purchases and external expenses (54.1) (65.5)
    Taxes and duties other than income tax (1.6) (1.6)
    Employee benefits expenses (81.3) (110.8)
    Other operating income / (expenses) 4.4 2.0
    Depreciation, amortization and additions to provisions (30.4) (38.2)
    o/w PPA amortization (9.5) (10.8)
    Current operating profit / (loss) 52.8 76.9
    Current operating profit / (loss) ex. PPA amortization 62.3 87.8
    Other income / (expenses) (4.5) (3.9)
    Operating profit / (loss) 48.3 73.0
    Operating profit / (loss) ex. PPA amortization 57.7 83.8
    Net financial result (28.0) (31.2)
    Profit / (loss) before tax 20.2 41.8
    Profit / (loss) before tax ex. PPA amortization 29.7 52.6
    Income tax (1.8) (11.1)
    Net profit / (loss) 18.4 30.7
    Net profit / (loss) ex. PPA amortization 27.8 41.5

    Consolidated statement of cash flows

    In € millions FY 2023 FY 2024
    Net profit / (loss) 18.4 30.7
    Net financial results 28.0 31.2
    Income tax 1.8 11.1
    Charges net of reversals to depreciation and amortization 30.9 36.9
    Other income / (expenses) (0.2) 2.5
    Income tax received / (paid) (6.9) (6.7)
    Change in net working capital (21.7) (9.5)
    Net cash flow from / (used in) operating activities 50.5 96.2
    Net investments in assets (31.4) (41.3)
    Net acquisition of equity investments (69.3) (31.4)
    Investment grant received and other flows 1.1 (0.0)
    Net cash flow from / (used in) investment activities (99.6) (72.7)
    Capital increases / (decreases) 0.0 180.0
    Acquisitions and disposals of treasury shares 0.0 (0.3)
    Change in financial liabilities and IFRS 16 leases 57.6 (65.1)
    Interest payments (including IFRS 16 leases) (24.4) (24.2)
    Other 2.3 (14.1)
    Net cash flow from / (used in) financing activities 35.5 76.3
    Effect of changes in exchange rates 0.2 0.4
    Increase / (decrease) in cash and cash equivalents (13.5) 100.2
    Cash and cash equivalents at the beginning of the period 29.0 15.5
    Cash and cash equivalents at the end of the period 15.5 115.6

    Consolidated balance sheet – Assets

    In € millions 31-Dec-2023 31-Dec-2024
    Goodwill 174.3 189.5
    Intangible assets 202.4 204.9
    Tangible assets 72.1 93.6
    Right-of-use of leases 10.8 10.6
    Investment in associates 3.4 3.4
    Financial assets and other long-term investments 0.7 0.9
    Deferred tax assets 0.0 (0.0)
    Non-current assets 463.7 502.8
    Inventory 78.5 93.0
    Accounts receivable 69.2 71.0
    Derivative financial instruments 0.2 0.0
    Financial assets and other short-term investments 29.4 33.0
    Cash and cash equivalents5 15.5 117.2
    Current assets 192.7 314.2
         
    Total assets 656.4 817.0

    Consolidated balance sheet – Equity and liabilities

    In € millions 31-Dec-2023 31-Dec-2024
    Share capital 1.9 21.6
    Additional paid-in capital 188.1 342.5
    Reserves 14.1 48.5
    Total equity 204.1 412.6
    Long-term financial debt 300.8 247.8
    Long-term lease liabilities 7.7 8.2
    Pension liabilities 7.6 7.5
    Provisions and other long-term liabilities 8.6 13.4
    Deferred tax liabilities 17.6 20.6
    Non-current liabilities 342.3 297.4
    Short-term financial debt 7.0 2.5
    Short-term lease liabilities 2.4 2.7
    Derivative financial instruments 0.1
    Accounts payable 32.3 26.0
    Provisions and other short-term liabilities 68.4 75.6
    Current liabilities 110.1 107.0
         
    Total equity and liabilities 656.4 817.0

    Definitions

    Like-for-like growth is the revenue growth achieved by the Group excluding currency impact and scope effect, which corresponds to revenue recorded during period “n” by all the companies included in the Group’s scope of consolidation at the end of period “n-1” (excluding any contribution from the companies acquired after the end of period “n-1”), compared with revenue achieved during period “n-1” by the same companies. Like-for-like growth for the fiscal year ended 31 December 2024 therefore excludes the contribution of Telops, El-Mul and Photonis Germany (formerly ProxiVision), acquired by the Group in October 2023, July 2023 and June 2023, respectively, as well as Centronic and LR Tech, acquired by the Group in July 2024 and September 2024, respectively.

    Adjusted gross margin is equal to the difference between the selling price and the cost price of products and services (including notably employee benefits).

    Adjusted EBITDA is defined as operating profit, less (i) additions net of reversals to depreciation, amortization and impairment of non-current assets; (ii) non-recurring income and expenses as presented in the Group’s consolidated income statement within “Other income” and “Other expenses”, and (iii) the impact of items that do not reflect ordinary operating performance (in particular business reorganization and adaption costs, costs relating to acquisition and external growth transactions, as well as the IFRS 2 share-based payment expense).

    Adjusted EBIT is defined as operating profit, less (i) non-recurring income and expenses as presented in the Group’s consolidated income statement within “Other income” and “Other expenses”, and (ii) the impact of items that do not reflect ordinary operating performance (in particular business reorganization and adaption costs, costs relating to acquisition and external growth transactions, as well as the IFRS 2 share-based payment expense). Depreciation, amortization and reversal of impairment losses on non-current assets, included in adjusted EBIT, exclude the amortization of the part of non-current assets corresponding to purchase price allocation.

    Cash conversion is calculated as follows: (adjusted EBITDA – capitalized research and development costs – capital expenditure) / adjusted EBITDA – capitalized research and development costs).

    Leverage ratio is calculated as net debt / adjusted EBITDA as defined in the Group’s New Senior Credit Facilities Agreement entered into as part of the refinancing executed in the frame of the IPO.

    Forward-looking statements

    Certain information included in this press release are not historical facts but are forward-looking statements. These forward-looking statements are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding present and future business strategies and the environment in which Exosens operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to be materially different from the forward-looking statements included in this press release. These risks and uncertainties include those set out and detailed in Chapter 3 “Risk Factors” of the registration document approved on 22 May 2024 by the French financial markets’ authority (“Autorité des marchés financiers”) under number I. 24-010. Forward-looking statements speak only as of the date of this press release and the Group expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements included in this press release to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Forward-looking information and statements are not guarantees of future performances and are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Group. Actual results could differ materially from those expressed in, or implied or projected by, forward-looking information and statements. This press release is provided for information purposes only. It does not constitute and should not be deemed to constitute an offer to the public of securities.


    1 Formerly ProxiVision.
    2 Cash conversion is defined as (adjusted EBITDA – capitalized R&D – capex) / (adjusted EBITDA – capitalized R&D).
    3 Leverage ratio is defined as net financial debt / adjusted EBITDA.
    4 Capital expenditures not paid at year-end 2024 were reclassified in working capital.
    5 As at 31 December 2024, cash and cash equivalents balance sheet position amounts to €117.2 million. Adjusted for bank overdrafts for €0.3 million and interests to be received for €1.2 million, cash and cash equivalents amount to €115.6 million as reported in the cash flow statement.

    Attachment

    The MIL Network

  • MIL-OSI China: China’s populations of wild species grow steadily

    Source: China State Council Information Office 2

    China has seen a significant increase in the populations of its flagship species over the past few decades, the National Forestry and Grassland Administration said Monday.
    The number of wild giant pandas has risen from around 1,100 in the 1980s to nearly 1,900 today, while the snow leopard population has rebounded to over 1,200. The population of wild Asian elephants has grown from over 150 to more than 300.
    Additionally, the number of Tibetan antelopes has increased from around 60,000-70,000 in the late 1990s to over 300,000 today.
    In the realm of wild plants, more than 200 endangered species have been successfully reintroduced, and many species have experienced significant recovery and protection.
    The steady increase in wild populations is mainly due to China’s comprehensive conservation efforts in recent years. According to the administration, these efforts include continuously refining policies and legal frameworks and increasing financial investment.
    The administration said that moving forward, China will continue to strengthen the conservation of wildlife and plants and promote modernization that ensures the harmonious coexistence of humans and nature.
    Monday marks the United Nations World Wildlife Day in 2025.

    MIL OSI China News

  • MIL-OSI China: Announcement on Open Market Operations No.41 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.41 [2025]

    (Open Market Operations Office, March 3, 2025)

    In order to keep the liquidity adequate in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB97 billion through quantity bidding at a fixed interest rate on March 3, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB97 billion

    1.50%

    Date of last update Nov. 29 2018

    2025年03月03日

    MIL OSI China News

  • MIL-OSI Asia-Pac: Singapore ETO holds first Chinese New Year dinner in Vietnam to promote closer relationship (with photos)

    Source: Hong Kong Government special administrative region

    Singapore ETO holds first Chinese New Year dinner in Vietnam to promote closer relationship (with photos)
    Singapore ETO holds first Chinese New Year dinner in Vietnam to promote closer relationship (with photos)
    ******************************************************************************************

         The Hong Kong Economic and Trade Office in Singapore (Singapore ETO) hosted the first Chinese New Year dinner in Vietnam at Ho Chi Minh City (HCMC) yesterday (February 28), taking the opportunity to celebrate the new year and the Singapore ETO’s 30th anniversary with the rapidly growing Vietnamese partners and counterparts.           Jointly organised with the Hong Kong Business Association Vietnam (HKBAV), the dinner welcomed about 200 guests, including the Consul General of the People’s Republic of China in HCMC, Mr Wei Huaxiang; the Deputy Director-General of the Department of Foreign Affairs in HCMC, Mr Tran Xuan Thuy; the Deputy Chief of Office of the People’s Committee of District 1 of HCMC, Mr Mac Hong Linh; the Chairman of the HKBAV, Mr Michael Chiu; the Director of Indochina of the Hong Kong Trade Development Council, Ms Tina Phan; and representatives from government and business sectors, chambers of commerce, Hong Kong communities in Vietnam, etc.           Speaking at the dinner, the Director of the Singapore ETO, Mr Owin Fung, recapped the multi-front work and achievements of Hong Kong and Vietnam collaboration efforts. Last summer, the Chief Executive, Mr John Lee, met with the then Vietnam President and the present General Secretary of the Communist Party of the Vietnam Central Committee, Mr To Lam, during his official visit to Hanoi and HCMC with a Hong Kong Special Administrative Region delegation. Meanwhile, the Permanent Deputy Prime Minister of Vietnam, Mr Nguyen Hoa Binh, visited Hong Kong last September to attend the Belt and Road Summit.           On business and trade relations, Mr Fung mentioned that Vietnam had become Hong Kong’s sixth-largest merchandise trading partner in 2024, with a total trade volume increasing by 26 per cent from 2023. With regard to foreign direct investment (FDI), Hong Kong investors have had a keen interest in the Vietnamese market for years. On an accumulated basis, Hong Kong is one of Vietnam’s top five largest FDI investors in areas such as manufacturing, real estate, retail, logistics, infrastructure, etc. In addition to other positive developments, as in tourism and education, the relations of the two places could reach a new level in the imminent future.           During the dinner, the Singapore ETO also introduced to guests the grand opening of Kai Tak Sports Park, the largest sports infrastructure project in Hong Kong history, in the evening of March 1. The cultural performances presented including lion dance, playing of Chinese and Vietnamese songs by a live band using traditional music instruments, and jamming of Cantonese and Vietnamese songs by a local singer.           Mr Fung concluded that Hong Kong has unique advantages under the “one country, two systems” arrangement, serving as a gateway between Mainland China and global markets, with the Greater Bay Area (GBA) as a key focus for collaboration. The Singapore ETO, celebrating its 30th anniversary, will continue to relentlessly enhance bilateral relations and provide help to enterprises and businesses to enter and expand in Hong Kong and take a proactive role to help enterprises and businesses in Hong Kong and the GBA go abroad. Vietnam and the Association of Southeast Asian Nations will certainly be a priority destination.

     
    Ends/Saturday, March 1, 2025Issued at HKT 10:50

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI China: Tsinghua University to launch new school for AI talent development

    Source: China State Council Information Office 2

    China’s prestigious Tsinghua University announced Sunday that it will establish a new undergraduate school focused on developing talent in artificial intelligence (AI).
    The university plans to enroll about 150 students in the new school this year.
    The new school will emphasize AI’s role in education and research, integrating AI with multiple disciplines. It aims to develop a new model for AI-driven education while training students with strong AI literacy, technical expertise and innovative capabilities.
    According to the university’s academic affairs office, Tsinghua has already made strides in AI education. It has introduced 117 pilot courses and 147 classes incorporating AI-driven teaching methods. It has also developed tools such as intelligent teaching assistants, lesson-planning aids and automated grading systems. 

    MIL OSI China News

  • MIL-OSI China: Chinese EV brands lead sales in Israel

    Source: China State Council Information Office

    Chinese automaker BYD topped electric car sales in Israel in the first two months of 2025, according to figures issued by the Israel Vehicle Importers Association on Sunday.

    BYD, currently offering four electric models in Israel, sold 2,386 units in January-February. Last year, The Chinese EV giant ranked first in Israel car sales with 16,690 units sold.

    Xpeng Motor, another Chinese EV manufacturer, took the second place, selling 1,592 units of the three models it offers in the country.

    Coming third was the Chinese-owned automaker Lynk & Co, which sold 1,075 units in the same period.

    Chinese brands made up 86.6 percent of Israel’s electric car sales in January-February, with 9,530 units sold in total, as shown by the data.

    Chinese brands also dominated Israel’s imported passenger car sales, which also include gasoline vehicles, with 17,959 units sold in the two months, followed by those of South Korea and Japan.

    MIL OSI China News

  • MIL-OSI China: Chinese firms to increase investment in responsible AI

    Source: China State Council Information Office

    Chinese companies plan to invest more in responsible artificial intelligence measures as the responsible development and use of data and AI becomes a critical enabler for organizations to gain a competitive edge through innovation, according to a report released by global consultancy Accenture.

    About 47 percent of Chinese companies see responsible AI as a strategic tool for AI-related revenue growth, the report said. Responsible AI refers to taking intentional actions to design, deploy and use AI to create value and build trust by protecting against the potential risks of AI.

    Only 31 percent of Chinese companies are currently investing more than 20 percent of their AI budget on responsible AI measures. However, 83 percent of Chinese companies plan to allocate more than 20 percent of their AI budget toward such measures in the next two years, the report said.

    Companies across the Asia-Pacific are accelerating AI adoption to drive productivity and revenue growth, and 9 out of 10 organizations plan to use agentic AI models in the next three years.

    However, organizations are yet to operationalize the responsible AI capabilities that are needed to scale AI and realize its full potential, and only 1 percent of organizations report being prepared for the risks related to compliance, privacy and data among other AI risks.

    While overall, more Asian companies are on the right path in terms of both organizational maturity and operational maturity (20 percent) but in China, the companies on right path are fewer (13 percent).

    More efforts are needed to establish AI governance and principles, conduct AI risk assessments, enable systemic responsible AI testing, as well as implement ongoing monitoring and compliance, Accenture said.

    “As businesses across the Asia-Pacific region deal with change and disruption, they recognize that success lies in embracing flexibility and finding new sources of efficiency and growth by using technology,” said Ryoji Sekido, CEO of Accenture Asia Oceania, adding they have increased their investments in AI, but the majority are finding it difficult to extract the right value from this investment.

    “To effectively scale AI, particularly generative and agentic AI, businesses need to invest in building trust among their people and their customers, ensure they have the right data foundation, and operationalize responsible AI. That’s the only way of creating long term, sustainable value,” Sekido said.

    MIL OSI China News

  • MIL-OSI China: Cambodian king, mother travel to China for regular health checkups

    Source: China State Council Information Office

    Cambodian King Norodom Sihamoni and his mother, former Queen Norodom Monineath Sihanouk, left here on Monday for Beijing, the capital of China, for a routine medical checkup and treatment.

    At the Phnom Penh International Airport, the royal family was seen off by Cambodian Prime Minister Hun Manet and Chinese Ambassador to Cambodia Wang Wenbin as well as other dignitaries.

    In a royal message to the compatriots, Sihamoni, 71, said his trip to Beijing was to have a medical checkup.

    “During my absence, Samdech Techo Hun Sen, president of the Senate, will assume the title of the acting head of state of the Kingdom of Cambodia,” he said.

    The king has his health checked by Chinese doctors twice a year, with his last medical trip to China taking place in August 2024.

    MIL OSI China News

  • MIL-Evening Report: Cyclone Alfred is expected to hit southeast Queensland – the first in 50 years to strike so far south

    Source: The Conversation (Au and NZ) – By Steve Turton, Adjunct Professor of Environmental Geography, CQUniversity Australia

    If you’re in southeast Queensland, brace yourself.

    Tropical Cyclone Alfred is expected to cross the southeast Queensland coast late this Thursday as a Category 2 storm. The last tropical cyclone to make landfall in the region was ex-Tropical Cyclone Zoe in 1974, half a century ago.

    Category 2 cyclones produce winds at levels considered damaging at best, destructive at worst – typically gusting as high as 164 kilometres per hour. It can cause minor damage to houses and significant damage to signs, trees and caravans. Power failures are common, while small boats can break moorings. Significant beach erosion is likely on the Sunshine Coast and Gold Coast.

    Cyclone Alfred formed nine days ago in the Coral Sea, 900 kilometres north east of Cairns, then headed out to sea. Then it tracked south, reaching severe Category 4 status east of Mackay. In recent days, the storm weakened further as it meandered into the cooler waters of the southern Coral Sea. The cyclone seemed set to peter out, far offshore.

    No longer. The latest forecasts show the storm sharply changing direction and making a beeline for heavily populated areas of southeast Queensland.

    Its erratic path is not unexpected. Cyclones forming over the Coral Sea have the most unpredictable paths in the world, frustrating coastal Queensland residents, fishers, tourist operators and meteorologists themselves.

    Alfred is a typically unpredictable Coral Sea cyclone. But unusually, it has maintained its cyclonic structure and intensity much further south, into subtropical latitudes.

    Issued Monday March 3rd, this map shows the forecast path of Cyclone Alfred this week.
    Bureau of Meteorology, CC BY-NC-ND

    Cyclones, typhoons and hurricanes explained

    Cyclones, hurricanes and typhoons are different names for the same intense, horizontally rotating tropical storms. They occur in seven tropical ocean basins, above and below the equator.

    These storms need atmospheric heat. They only form over seas warmer than 27°C, where evaporation rates are high. They don’t occur in the cooler South Atlantic basin, and only rarely in the southeast Pacific, during strong El Niño events when sea surface temperatures are warmer.

    The northwest Pacific – off eastern Asia and the Philippines – experiences the most frequent and intense tropical storms (known there as typhoons).

    Australia averages about 13 cyclones a year. Most won’t make landfall and only a few are severe. The world’s hardest hit nation is China, where six cyclones make landfall annually.

    This map shows the aggregated paths of the world’s tropical cyclone over the 150 years to 2006. Note: this map uses the Saffir-Simpson scale in measuring wind speeds, which differs slightly to the Australian scale.
    NASA, CC BY-NC-ND

    In the north Pacific and north Atlantic, cyclones typically follow predictable tracks. They move westwards, steered by sub-tropical high pressure sytems to their north.

    Cyclone paths are also fairly predictable off the northwest coast of Australia. They typically form over the Timor Sea and drift southwest before shifting south and crossing the coast. Some are severe, as we saw with Category 5 Cyclone Zelia last month.

    By contrast, Coral Sea cyclones such as Alfred are much harder to predict.

    In the southern hemisphere, cyclones spin clockwise. This figure shows how cyclones form around a low pressure system over warm seawater. Depending on their intensity, tropical cyclones are steered by dominant winds in the lower, middle and upper layers of the atmosphere.
    Metservice New Zealand, CC BY-NC-ND

    How cyclones are steered

    Strong winds are the main force steering cyclones, determining direction and forward speed.

    Severe tropical cyclones (categories 3–5) are characterised by deep convection currents, which form the famous eye at the centre of the storm, as well as feeder rainbands converging into their centre. Severe systems are generally steered by winds in the middle to upper levels.

    By contrast, weaker cyclones (categories 1–2) are much shallower and often have little or no convection around their centre. They tend to be steered by winds in the lower to middle levels. At present, Cyclone Alfred looks to remain relatively weak.

    Wind speed and direction can differ markedly in different levels of the atmosphere. Winds can also change direction at the same level. These competing influences are what lies behind the erratic paths of our cyclones.

    Cyclones forming in the Coral Sea are more likely to be pushed in different directions by different winds and weather systems than their equivalents in other ocean basins. This is what makes them so hard to predict.

    In our region, cyclones are largely steered by two high pressure systems.

    The first pushes cyclones east, and the second steers them west. If both are present and roughly equal in strength, they can hold a cyclone near-stationary. We saw this with Cyclone Alfred for most of the last week.

    Slow-moving tropical cyclones such as Alfred are more likely to wander, while faster-moving cyclones such as Severe Cyclone Yasi follow a stronger steering pattern and more predictable paths.

    Quite often, cyclones travel south and east out to sea. There, they quietly die in a large area of ocean colloquially known as the cyclone graveyard, southeast of Brisbane. These cyclones are steered by different weather systems – upper troughs, cold masses of air from the Southern Ocean.

    Cyclone Alfred was initially steered east by a near equatorial ridge to its northeast, then became stuck between this high pressure ridge and a sub-tropical ridge to its southwest. This is why it meandered very slowly south and built up strength to become severe.

    An upper trough then pushed it southeast over the weekend. This week, it’s likely to turn sharply westward towards land, propelled by a high pressure ridge to the south.

    Landfall – but where?

    After meandering around the Coral Sea for more than a week, Cyclone Alfred’s forecast track now seems more certain.

    The system is expected to intensify from a Category 1 to 2 tomorrow as it moves over warmer waters and draws in more moisture-laden air. This should see it maintain near Category 2 status until landfall. After it hits, it should rapidly weaken to a tropical low over southern Queensland into the weekend.

    Alfred will bring a lot of rain, making flooded rivers and flash flooding likely. The Bureau of Meteorology has issued a flood watch for catchments all the way from Maryborough to the Northern Rivers area of New South Wales. These communities should prepare now.

    Cyclone Alfred has a large area of gales, so will affect a wide swathe of coastline from K’gari (Fraser Island) to Byron Bay. Storm-force winds will cover a 100km wide area, mostly concentrated on its southern flank as it approaches and crosses the coast.

    In the longer term, Alfred’s remnants will likely be captured by an approaching upper trough and taken back offshore, where it will die in the cyclone graveyard – gone, but not likely to be forgotten.

    Steve Turton has previously received funding from the Australian Government.

    ref. Cyclone Alfred is expected to hit southeast Queensland – the first in 50 years to strike so far south – https://theconversation.com/cyclone-alfred-is-expected-to-hit-southeast-queensland-the-first-in-50-years-to-strike-so-far-south-251241

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: China’s Qinling Antarctica station powered by clean energy

    Source: China State Council Information Office 2

    The hybrid power supply system of China’s Qinling Station in Antarctica, integrating wind, solar, hydrogen and diesel power, has kicked off its operation, marking the debut of such a system on the frigid, harsh continent.
    According to China’s 41st Antarctic expedition team, the outdoor 100 kW wind power generation system, 130 kW solar power generation system, 30 kW hydrogen energy system, 300 kWh low-temperature energy storage battery system, part of the diesel power generation system, and the indoor electric control system at the station have been installed.
    Also, the hybrid system’s grid connection and continuous power generation have been realized, enabling the power supply system centering on clean energy.
    The system is the largest-scale new energy power generation system currently installed in China’s Antarctic research stations. The proportion of solar and wind energy reaches over 60 percent, saving more than one hundred tonnes of fossil fuels annually.
    Without wind and sunlight, the system can provide the station with a power supply for about 2.5 hours, with a maximum load of 150 kW. Also, its fully installed hydrogen energy setup can provide 30 kW of uninterrupted power for 14 days during polar nights.
    Qinling Station, the country’s fifth research station in the continent, started operation in February last year.
    Before the Qinling Station, China established four research bases in Antarctica over the past nearly 40 years — the Great Wall Station, the Zhongshan Station, the Kunlun Station and the Taishan Station. 

    MIL OSI China News

  • MIL-OSI Asia-Pac: Director General David Cheng-Wei Wu Submitted an Article to The Daily Telegraph on Chinese Navy’s Incursion to Australian Waters

    Source: Republic Of China Taiwan 2

    《Why is China sending ships our way? Just ask Taiwan》
    Cheng-Wei Wu, Director General of the Taipel Economic and Cultural Office In Sydney
    The surprise visit of three Chinese warships just 150 nautical miles east of Sydney serves as a wake-up call, bringing up distant memories of World War II when Australia, a country “girt by sea”, was exposed to threat of an authoritarian power’s navy suddenly appearing in the nation’s waters.
    Yet for some time Australian opinion leaders have debated the nature of the China threat.
    But the simple fact is, last week Chinese warships conducted live-fire drills in Australia’s exclusive economic zone (EEZ) for the very first time, and from afar. And at least 49 commercial flights flying over the Tasman Sea between Australia and New Zealand were forced to change course, after receiving a short-notice verbal warning broadcast from the Chinese warships.
    Australia’s Defence Minister Richard Marles stated that China did not follow the best practice of giving 12 to 24 hours’ prior notice and the Australian government has expressed concern to the Chinese government.
    There has plenty of analysis in the past few days on the purpose to rationalise China’s flagrant military moves. It is worth noting that a comment published by Chinese Communist Party’s mouthpiece, the Global Times, stated that: “The People’s Liberation Army is expected to host more such far seas voyages … Some countries may have not yet adapted to seeing the PLA Navy’s normal voyages”.
    Coming from Taiwan, a neighbouring country which faces China’s military harassment and economic coercion on a regular basis, I want to share observations that China is trying to create its “new normal” now in Australia’s front yard with the grey zone tactics, just as they have done in the Taiwan Strait.
    We have seen an uptick of frequency of PLA aircraft’s incursions into our ADIZ (Air Defence Identification Zone) from 960 sorties in 2021 to 3074 sorties in 2024.
    China does this to protest the world’s engagement with Taiwan and to cast a shadow over our elections.
    On this score, it is sure that China knows about Australia’s upcoming federal election and calculated it was “worthwhile” sending a fleet to make an impression.
    China would also like to test the determination of our democratic allies in the Indo-Pacific region, particularly as Donald Trump recalibrates US foreign policy.
    The development of international relations may have its own course. Nevertheless, there are still some rules in world politics which have been verified throughout the pain and history.
    “Like-minded countries must band together”, should be the one to help
    stand up against aggression and authoritarian expansionism.
    When Australia faces the Chinese military bully and intimidation, do not forget the rules we learned, and all democracies would be united by your side, including Taiwan.

    MIL OSI Asia Pacific News

  • MIL-OSI China: Legacy carved in stone

    Source: China State Council Information Office 3

    The recent Chongqing premiere of For an Eternal Homeland — Dazu Rock Carvers’ Legacy has been hailed by the audiences and critics as a spectacle that brings the ancient figures of the Dazu Rock Carvings, a UNESCO World Heritage Site, to life.

    Through a blend of artistry and narrative, this dance drama has been recognized by many as a successful reimagining and revitalization that allows the historical treasure to shine anew.

    Zhang Yaqi, artistic director of the dance drama, says that the collaboration between the municipality of Chongqing and the China Oriental Performing Arts Group, a national performing arts institution, was developed over a two-year period and pays tribute to Dazu’s stone carvers.

    The performance is themed on celebrating the ancient philosophical vision of an ideal society: renjian xiaoman; tianxia dazu, (literally “small satisfaction in human life; grand prosperity and abundance in the world”).

    The Dazu Rock Carvings include the 144 grottoes, 50,000 statues and 100,000 inscriptions found in Chongqing’s Dazu district.

    Begun during the early Tang Dynasty (618-907) and reaching its peak during the Song Dynasty (960-1279), these extensive carvings amalgamate Confucian, Buddhist and Taoist sculptures.

    The UNESCO designation was awarded in 1999. Along with the Mogao Caves in Gansu province, the Longmen Grottoes in Henan province, and the Yungang Grottoes in Shanxi province — all similarly designated — the Dazu Rock Carvings are considered an essential part of the history of cave art in China.

    The 10-chapter, 100-minute dance drama is the tale of a young refugee named Xiao Fu. Fleeing to Dazu during the Southern Song Dynasty (1127-1279), he seeks sanctuary among local rock carvers, embracing their simple joys and aspirations for a brighter tomorrow. However, when a rockslide occurs, he pledges to immortalize the names of his departed family members by carving them on the cliffs, ensuring their memory lasts forever.

    “The stage presentation was challenging, with a deep sense of reverence. We drew inspiration from the details of the carvings, capturing their lifelike appearances,” Zhang says.

    She adds that every aspect, from characters and costumes to design, movements and props, was created to reflect the poetic essence of these portrayals of everyday rural life.

    For instance, figures such as the flute-playing woman, the chicken-raising woman, the cattle herder, and the woman wine seller, as well as Graceful Guanyin (Avalokitesvara, or the Goddess of Mercy), Water-moon Guanyin, and the Buddhist monk Zhigong (418-514) are brought to life in the drama.

    The 40 performers, 18 women and 22 men, radiate an ancient charm that encapsulates the aesthetics of the Song Dynasty, according to Zhang, who adds that the production included some core members of the team behind another hit, Poetic Dance: The Journey of a Legendary Landscape Painting.

    A large mirror onstage was used as a backdrop, according to Gao Guangjian, the drama’s visual director and set designer.

    A variety of multimedia techniques was used to create a distinct realm, enabling the exploration of the dynamic interplay between reality and faith.

    “The Dazu Rock Carvings are a priceless treasure, and belong to humanity,” says Li Fangyin, former director of Dazu Rock Carvings Research Institute.

    “Their deep content, such as philosophical ideas, humanistic principles, values and morals, helped us to further tap their worth through creative efforts,” Li adds.

    Since the 18th National Congress of the Communist Party of China in 2012, the country has increasingly focused on the conservation and use of cultural heritage and grotto temples.

    According to Li, more than 30 protection projects have been carried out at the Dazu Rock Carvings over the past two decades, resulting in marked progress on the protection, research, and use of the site.

    The Qianshou Guanyin (Thousand-hand Avalokitesvara) statue, carved during the Southern Song Dynasty, is a treasure of Baoding Mountain, one of the sites part of Dazu. In June 2015, after an 8-year national project to conserve its stone relics, aided by technology, salvage efforts were completed. That year, the Art Museum of Dazu Rock Carvings was opened.

    After 16 years of surveys and research by experts at the research institute, Dazu Shike Quanji (A Collection of Dazu Rock Carvings) was published by Chongqing Publishing Group in 2019, the first Chinese archaeological report about large grotto temple sites.

    In recent years, several international academic symposiums have been held in Chongqing and Ziyang, Sichuan province, to integrate cultural tourism and preservation.

    Last August, the first International Forum on Cave Temple Conservation kicked off in Dazu. Experts from countries, including Norway, the United Kingdom, Japan, Pakistan, Iran, Afghanistan and Nepal, convened to share insights and address common challenges in the global conservation of grotto temples.

    Chongqing’s Dazu and Ziyang city in Sichuan are known for their stone carvings — 150,000 in all — among which the Anyue Grottoes in Ziyang’s Anyue county have been included in the provisional list of UNESCO’s World Cultural Heritage Sites.

    The Sichuan-Chongqing Grotto Protection and Research Center has been established and has organized 20 international forums and academic exchange studies in Dazu. It is also responsible for publishing the academic journal Cave Temple Research and Conservation.

    “The fusion of traditional art and modern technology has led to many changes,” Li says, citing the example of Black Myth: Wukong.

    The game’s production team explored the Dazu Rock Carvings three years ago, and set many scenes in the hit game there.

    After its three-day premiere from Feb. 21 to 23 in Chongqing, the drama will travel to 10 more cities, including Chengdu, Hangzhou in Zhejiang province, Nanchang in Jiangxi province, Shenzhen in Guangdong province, Fuzhou and Xiamen in Fujian province, as well as Changsha in Hunan province. A total of 100 performances are planned for the year.

    MIL OSI China News

  • MIL-OSI China: ‘Ne Zha 2’ scores $18M in North America

    Source: China State Council Information Office 3

    Chinese animated blockbuster “Ne Zha 2” has grossed an estimated nearly $18 million after three weekends in North America, data from the measurement firm Comscore showed on Sunday.

    The animated epic fantasy film landed seventh place at the North American box office chart on its third weekend with $2.94 million, pushing its North American gross to $17.95 million through Sunday.

    Marvel’s “Captain America: Brave New World” stayed atop the box office chart for the third weekend in a row, taking in $15 million.

    “Ne Zha 2” is being released by CMC Pictures in Mandarin with English subtitles in over 600 selected theaters across North America. The film remained in the top five at the North American weekend box office for the past two weekends, becoming the highest-grossing Chinese-language film in North America since 2006.

    As the film continues its record-breaking run, it has grossed an astounding 14.29 billion yuan (about $1.92 billion) so far, according to data from the ticketing platform Maoyan.

    “Ne Zha 2” is now ranked 7th on the all-time global box office chart, with its total box office revenue surpassing that of “Spider-Man: No Way Home.” It is the first non-Hollywood film to enter the coveted billion-dollar club and the highest-grossing animated film of all time globally.

    “Ne Zha 2” is a sequel to the 2019 animated box office hit “Ne Zha,” inspired by a Chinese mythological figure with the same name.

    MIL OSI China News

  • MIL-OSI China: China plays major role in global climate affairs

    Source: China State Council Information Office 2

    China is a critical force in the global energy transition and its involvement in international climate talks is essential, the head of the United Nations’ climate science panel said on Saturday.
    Jim Skea, chair of the Intergovernmental Panel on Climate Change, made the remarks ahead of the release of its findings from its 62nd plenary session, which concluded on Saturday in Hangzhou, Zhejiang province.
    Skea emphasized China’s leading role in deploying renewable energy, noting it has the world’s highest levels of solar and wind energy.
    “Without China’s participation, global efforts would be much less effective,” Skea said, highlighting the country’s importance in discussions under the UN Framework Convention on Climate Change and the Paris Agreement.
    The weeklong session focused on outlining reports for the IPCC’s seventh assessment cycle, covering the physical science of climate change, its impacts, adaptation, vulnerability and mitigation, as well as greenhouse gas inventories.
    The Hangzhou meeting stressed the importance of integrating climate action with economic growth and improved quality of life.
    “The idea of improving people’s well-being and quality of life is not opposed to taking climate change action. They actually go together,” Skea said.
    He praised China’s advancements in climate monitoring technologies, including early warning systems and meteorological satellites, which are crucial for tracking climate conditions, greenhouse gas emissions and socioeconomic changes, particularly in developing nations.
    Xiong Shaoyuan, deputy head of China’s delegation, said the nation will collaborate with other countries to build early warning platforms and share its experiences in meteorological services.
    Established in 1988, the IPCC provides scientific information to governments on climate change. For its current cycle, the IPCC will focus on climate change in urban areas and carbon dioxide removal technologies, including carbon capture, utilization and storage. The first meeting on urban climate change will be held from March 10 to 14 in Osaka, Japan, Skea said.

    MIL OSI China News

  • MIL-OSI China: Little Blue Houses go long way to boosting circular economy

    Source: China State Council Information Office

    Numerous plastic waste classification and recycling stations, known as Little Blue Houses, dotting the 6,715-kilometer-long coastline of Zhejiang province in East China, are playing a pivotal role in the fight against marine plastic pollution.

    These houses are a core component of the Blue Circle project, China’s largest environmental initiative aimed at addressing the pressing issue of marine plastic waste. In 2023, Blue Circle was given the Champions of the Earth award by the United Nations Environment Programme — the UN’s highest environmental honor.

    After local volunteers sort through recyclable plastic debris at the Little Blue Houses, the materials are transported to Zhejiang Vision-Blue Technology Co, a high-tech company specializing in marine sustainable development. From there, the waste is sent to a recycling facility where it undergoes a series of processes, including crushing, cleaning, melting and granulation.

    The journey of each piece of plastic, from coast to factory, is meticulously tracked using internet of things devices and blockchain, ensuring the traceability and transparency of the origin of the plastic. Each batch of marine plastic waste is assigned a unique QR code containing details of the full recycling process from start to finish.

    According to UNEP estimates, over 9 million metric tons of plastics enter the oceans annually. Plastic waste ending up in the sea ranges from microplastics to large debris such as bottles and bags, which can take hundreds of years to degrade, threatening the marine ecosystem.

    While recycling offers a potential solution to reducing the demand for new plastic production, and thus helping curb emissions from plastic manufacturing, incineration and landfills, it faces challenges in terms of collection logistics and high recycling costs.

    “The average price of recycled marine plastic pellets is 1.3 times that of primary plastic pellets. The good quality of marine plastics, coupled with their environmental and social benefits, justifies their premium price,” said Chen Yahong, director of the marine business unit at Zhejiang VisionBlue Technology Co.

    “Many clients, including international brands, are willing to pay more for recycled marine plastics, as it aligns with their growing sustainability needs,” she said.

    Recycled plastics from the Blue Circle project, including PET(polyethylene terephthalate) plastics derived from ocean waste, significantly reduce carbon emissions. The emissions from recycled PET are about a quarter of those associated from virgin PET.

    According to Chen, the recycled plastics of the Blue Circle project have helped reduce 3,900 metric tons of carbon emissions.

    These recycled materials are repurposed into a variety of products, including clothing, electronics, phone cases, stationery, shopping bags and T-shirts.

    Zhu Liyang, president of the China Association of Circular Economy, said: “The Chinese government has placed a strong focus on tackling plastic pollution, implementing comprehensive governance across the entire waste management chain. By recycling discarded plastics and ensuring proper collection, these materials can be reintegrated into the supply chain.”

    The circular economy is an important path to achieving green transformation, Zhu emphasized. “In recent years, there has been a noticeable shift toward green living and consumption, creating vast opportunities for the development of China’s circular economy,” he said.

    MIL OSI China News

  • MIL-OSI China: Companies expand footprint overseas

    Source: China State Council Information Office

    Cargo ships carrying steel products are heading toward African ports from Zhangjiagang Port in East China’s Jiangsu province, and canned beans from Yancheng, Jiangsu, are reaching the dining tables of Middle Eastern families, as local Chinese enterprises continue to expand their businesses overseas, according to Nanjing Customs.

    Chinese companies nationwide, not just enterprises in Jiangsu, are revving up their efforts to expand their footprint overseas and strengthen international cooperation.

    In the two weeks following the Spring Festival holiday, the China Council for the Promotion of International Trade said it arranged for eight groups of Chinese entrepreneurs to travel abroad for economic and trade activities.

    Representatives from more than 200 companies visited Kazakhstan, Germany, South Africa, Egypt, Ethiopia, Qatar, Saudi Arabia and the United Arab Emirates, the Beijing-based council said on Friday.

    “During the visits, the willingness of foreign companies to cooperate with China exceeded our expectations, and 33 cooperation intent agreements were reached, covering sectors such as finance, energy, infrastructure, automobile manufacturing and the digital economy,” said Yang Fan, a spokeswoman for the CCPIT.

    “This has fully demonstrated the strong desire and broad prospects for pragmatic cooperation between Chinese and foreign business communities,” she said.

    The more difficult the times, the more determined the global business community is to work together and achieve win-win cooperation, Yang said, noting that this is the greatest certainty that balances many uncertain factors in global economic growth.

    Unilateralism and protectionism can’t interfere with the main theme of economic globalization, she added.

    In mid-February, a delegation of Chinese entrepreneurs visited Kazakhstan and achieved better-than-expected results. During the two-day visit, representatives of enterprises from China and Kazakhstan signed eight cooperation agreements, including an energy strategic cooperation agreement and an agricultural products import and export agreement.

    The visit was aimed at deepening trade, investment and industrial and supply chain cooperation between China and Kazakhstan and further consolidating the permanent comprehensive strategic partnership between the two countries, the CCPIT said.

    Chinese entrepreneurs were also warmly welcomed in other countries, and Chinese and foreign business communities engaged in enthusiastic talks.

    In South Africa, the country’s Deputy President Paul Mashatile met with a Chinese business delegation in person, while in Germany, the management teams of major multinational corporations, such as Mercedes-Benz, BMW and Bosch, held in-depth talks with Chinese entrepreneurs, Yang said.

    In the UAE, officials from government departments and major business associations actively engaged in dialogues with Chinese entrepreneurs, she added.

    In the past few years, Chinese enterprises have shown strong willingness to promote industrial and supply chain cooperation with their foreign counterparts.

    Last year, the CCPIT organized a total of 2,249 business groups to visit 102 countries and regions, which means on average six Chinese delegations went abroad for business talks each day.

    Jiangsu Kanghui New Material Technology Co, an affiliate of Hengli Group, which focuses on the full production chain in oil refining, petrochemicals, polyester new materials and textiles, is a leading company in producing wide polyester films. A variety of polyester film products have rolled off its production line for exports.

    In particular, the company has been actively expanding its business in emerging markets such as the Association of Southeast Asian Nations, according to Nanjing Customs.

    “Last year, our products exported to ASEAN countries enjoyed preferential tariffs and received an exemption of 8.47 million yuan ($1.16 million), thanks to the China-ASEAN free trade agreement,” said Zhang Liping, director of imports and exports at Jiangsu Kanghui New Material Technology.

    “With preferential tariffs, our products have become more competitive in overseas markets. In 2024, the company’s export value in the ASEAN market reached $24 million,” Zhang added.

    MIL OSI China News