Category: China

  • MIL-OSI China: Foreign visitors to Asian Winter Games enjoy Harbin’s traditional culture

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

    Foreign participants at the ongoing 9th Asian Winter Games in northeast China’s Harbin have taken time away from the sporting competitions to enjoy the rich cultural offerings of the “ice city” at an event dedicated to showcasing local and traditional intangible cultural heritages.

    Running from February 7 to 14, the Asian Winter Games has brought together over 1,200 competitors from 34 countries and regions, making this the largest ever edition of the Games in terms of overall participation.

    MIL OSI China News

  • MIL-OSI China: China lights up for Lantern Festival with stunning displays and performances

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

    People across China celebrated the traditional Lantern Festival, which fell on February 12 this year, with dazzling light displays, folk performances, and traditional festivities.

    Check out the video to find out how cities across China celebrate the special Chinese traditional Lantern Festival!

    MIL OSI China News

  • MIL-OSI China: Pact inked to share Chinese pop icon’s music with the world

    Source: China State Council Information Office 3

    Liu Huan, a legendary pop artist and music educator, and the Universal Music Greater China, a division of the world-leading music company, Universal Music Group, announced an exclusive global agreement on Feb 11.

    It is the first time that a major part of Liu’s body of work — both recording and publishing rights — will be united under one umbrella. The deal aims to further promote and preserve Liu’s musical legacy, while amplifying the cultural impact of Chinese music globally.

    A prolific singer-songwriter and dedicated music educator, Liu has made significant contributions to the evolution of Chinese pop music scene. His enduring hits have defined each era since the 1980s, including Wan Wan De Yue Liang (The Crescent Moon) and Shao Nian Zhuang Zhi Bu Yan Chou (Young Aspiration Knows No Sorrow), making him a beloved household name in China. In the 1990s, Liu cemented his status as a national icon through his songs and compositions for the hit television series Beijingers in New York, including the beloved hit Qian Wan Ci De Wen (Time and Time Again). Later in the decade, his performance of Hao Han Ge (The Song of Heroes), the theme song for the TV adaptation of Water Margin, one of China’s Four Great Classical Novels, became a cultural phenomenon. In the 2010s, Liu composed and performed the entire soundtrack for award-winning TV series Empresses in the Palace, which shattered viewership records and evoked nationwide acclaim.

    Liu’s status as a cultural icon is reflected in performances that have defined pivotal moments in China’s modern history. In 1990, he collaborated with female singer Wei Wei to perform Ya Zhou Xiong Feng (Mighty Winds of Asia), a song dedicated to the 11th Beijing Asian Games, capturing the spirit of optimism and ambition of the era. In 2008, Liu took center stage at the Beijing Olympics Game opening ceremony, performing You and Me alongside British soprano Sarah Brightman in a duet watched by billions around the world.

    Beyond his career as an artist, Liu Huan has dedicated himself to nurturing new talent and promoting original music. In 2012, he joined the inaugural season of The Voice of China, helping launch the careers of many of his students. In 2014, Liu spearheaded the critically acclaimed reality show Sing My Song, which spotlighted original music and introduced a new generation of singer-songwriters, producing a wealth of widely celebrated original songs. Furthering his commitment to musical originality, Liu established the Liu Huan Original Music Fund in 2019, a philanthropic initiative to support Chinese singer-songwriters, promoting the development and innovation of China’s music industry.

    “We are deeply honored to stand alongside Liu Huan as his chosen partner, supporting him in this exciting new chapter of his illustrious career. His ability to create music that speaks to the soul of a nation is unparalleled, and his enduring artistic vitality makes him truly one of a kind. With his trust, we are committed to celebrating his musical legacy, and together, we aim to promote the development of Chinese music industry, continuing to elevate the global impact of Chinese culture,” says Timothy Xu, Chairman and Chief Executive Officer of Universal Music Greater China.

    “We are committed to championing local artistry as part of our vision for a diversified global music culture. Liu Huan is a towering figure in contemporary Chinese music history, and we are proud to support his journey in sharing his extraordinary music with the world,” says Adam Granite, Executive Vice-President, Market Development of Universal Music Group.

    MIL OSI China News

  • MIL-OSI China: Culture-loving tourists captivated by western China amidst Spring Festival merriment

    Source: China State Council Information Office 3

    Staff members stage a play for tourists at an immersive performance street in Lanzhou, northwest China’s Gansu Province, Feb. 9, 2025. (Xinhua/Zhang Wenjing)

    Zare Salman found himself entranced in the bustling streets of Lanzhou, capital of northwest China’s Gansu Province, as Silk Road merchants shouted out their wares, Dunhuang mural dancers twirled with elegance, and an actor enacted Zhang Qian’s historic departure on his westward mission.

    The 39-year-old Iranian visiting scholar at the Northwest Institute of Eco-Environment and Resources under the Chinese Academy of Sciences, spending his first Chinese New Year in China, couldn’t contain his excitement.

    “Magical! This is so magical!” he exclaimed as he immersed himself in an immersive performance street bringing ancient Chinese history to life. Just days earlier, he had celebrated Chinese New Year’s Eve in Xi’an, sharing a traditional reunion dinner with a Chinese colleague’s family, receiving a red envelope, and visiting a lively temple fair.

    “My friend’s family treated me like one of their own,” Salman said. “The festival atmosphere was overwhelming — this is the grandest and most vibrant celebration I’ve ever seen.”

    This holiday, Salman was one of millions drawn to China’s booming cultural tourism sector. As the country marked its first Spring Festival since UNESCO recognized it as an intangible cultural heritage, demand for traditional and immersive experiences surged, particularly in its western regions, which boast a rich history.

    According to the Gansu Provincial Department of Culture and Tourism, the province hosted 1,418 themed events, received 18.05 million tourist visits, and generated 10 billion yuan (about 1.4 billion U.S. dollars) in tourism revenue during the Spring Festival holiday — both figures rising by more than 10 percent compared to last year.

    A major highlight was the rising interest in the intangible cultural heritage. In Lanzhou, a small museum showcasing carved gourds welcomed nearly 9,000 visitors over the holiday, many of them children and parents eager to try gourd carving under the guidance of Master Artisan Ruan Xiyue.

    “Each year, more families come to experience these traditional crafts,” Ruan said. “It shows a growing appreciation for our cultural heritage.”

    Cultural tourism in western China is flourishing due to its seamless blend of tradition and innovation. As Chinese New Year celebrations continue to evolve, they remain a powerful draw for domestic and international visitors, offering an authentic and immersive connection to China’s heritage.

    During the holiday, western regions launched a variety of cultural activities. The Gansu Provincial Museum held paper-cutting and cloisonné enamel-making workshops. Ningxia hosted over 200 events, from folk performances to traditional handicraft markets. Xinjiang organized over 700 cultural shows, while Qinghai arranged 2,000 programs featuring music, theater and folklore.

    China’s major online travel agencies reported a surge in interest for culture-focused trips. According to Fliggy, demand for cultural tourism, particularly experiences tied to the intangible cultural heritage, surged 40 percent compared to last year. Lantern festivals, folk performances and hands-on craft workshops were among the most sought-after activities.

    For Salman, the experience was more than just a holiday — it was a journey through history and tradition. “I’ve learned so much about Chinese culture, from its New Year customs to the Silk Road’s rich past,” he said. “I can’t wait to share this with my family and hopefully bring them to China one day.”

    MIL OSI China News

  • MIL-OSI China: Chinese culture on display at Lantern Festival celebration in Jordanian capital

    Source: China State Council Information Office 3

    People participate in a Hanfu show during a Lantern Festival celebration hosted by the China Cultural Center in Amman, Jordan, on Feb. 12, 2025. The China Cultural Center in Amman hosted the Lantern Festival celebration on Wednesday, marking the end of Chinese Spring Festival festivities with traditional performances and cultural exchanges. (Photo by Mohammad Abu Ghosh/Xinhua)

    The China Cultural Center in Amman hosted a Lantern Festival celebration on Wednesday, marking the end of Chinese Spring Festival festivities with traditional performances and cultural exchanges.

    Chinese Ambassador to Jordan Chen Chuandong said the Spring Festival is China’s most important traditional holiday, noting the Lantern Festival marks the first full moon of the Chinese New Year and symbolizes renewal and the arrival of spring.

    “Lantern Festival traditions, such as moon gazing, lantern displays, riddle-solving, and tasting traditional sweets, reflect the cultural heritage passed down through generations,” Chen said, adding the event offered a glimpse into Chinese traditions.

    Chen highlighted shared values between China and Jordan, including a commitment to peace, respect for family, and openness to cultural exchange. He noted historical ties between the two nations dating back to the Silk Road.

    Interest in Chinese language and culture is rising among Jordanian youth, while appreciation for Arabic culture is growing in China, he added.

    “We celebrate the Lantern Festival as a bridge for goodwill and communication, fostering closer cooperation between our countries,” Chen said.

    Shi Wei, cultural counselor at the Chinese Embassy and director of the China Cultural Center in Amman, said the “Happy Spring Festival” initiative has served as a global cultural exchange platform for two decades. She noted this year’s Lantern Festival celebration marked the final event of the 2025 Spring Festival in Amman, symbolizing unity and tradition.

    The event featured Kung Fu performances, traditional folk music and dance, theatrical acts, and a raffle draw. It drew Jordanian public figures, academics, students studying Chinese, embassy officials, and members of the Chinese community.

    Mohannad Al-Bakri, director-general of the Royal Film Commission of Jordan, said the event offered an engaging introduction to Chinese culture through performances incorporating technology, imagery, and film.

    He said the celebration deepened his understanding of the Spring Festival and noted cultural similarities between China and Jordan. The interaction between Jordanian and Chinese youth underscored growing cultural cooperation, he added. 

    MIL OSI China News

  • MIL-OSI China: Malta issues special zodiac stamps to mark Year of the Snake

    Source: China State Council Information Office 3

    Photo taken on Feb. 12, 2025 shows a set of newly released Year of the Snake zodiac postage stamps in Valletta, Malta. MaltaPost unveiled these stamps here on Wednesday, marking the second consecutive year the country has issued stamps celebrating the Chinese Lunar New Year. (Photo by Jonathan Borg/Xinhua)

    MaltaPost unveiled its Year of the Snake zodiac postage stamps on Wednesday in Valletta, marking the second consecutive year the country has issued stamps celebrating the Chinese Lunar New Year.

    The newly released set of two stamps, designed by Maltese artist Fabio Agius and Chinese designer Fang Jun, showcases a unique blend of Maltese and Chinese cultural motifs.

    Agius’s design intricately weaves the sinuous form of a snake with Malta’s iconic floral-patterned ceramic tiles, symbolizing the fusion of ancient heritage and contemporary artistry. Meanwhile, Fang’s creation incorporates the traditional Chinese knot, a symbol of good fortune, alongside the “Eye of Horus,” an ancient Maltese maritime emblem representing protection and safe voyages. Together, the designs embody the themes of growth, peace, and prosperity associated with the Wood Snake year in the Chinese zodiac.

    Speaking at the launch ceremony, MaltaPost Chairman Joseph Said emphasized the stamps’ cultural significance and their role in fostering international friendship. “I am confident that this philatelic initiative will strengthen cultural exchanges between Malta and China, bringing our nations even closer,” he stated.

    A parallel launch event was held in Beijing, co-organized by the Beijing Zodiac Philatelic Research Association and the Beijing Zodiac Culture Theme Post Office.

    Yuan Xikun, director of the Beijing Jintai Art Museum, highlighted the growing global appreciation of zodiac culture as a bridge for cross-cultural dialogue. “The issuance of these stamps is not only a tribute to traditional Chinese culture but also a vivid reflection of the friendship and cooperation between our two nations,” he said. “It will deepen the Maltese people’s understanding of Chinese culture and inject new vitality into cultural exchanges between our countries.”

    Liao Hongyun, president of the Beijing Zodiac Philatelic Research Association, echoed these sentiments, describing the stamp issuance as a testament to the enduring friendship between China and Malta.

    As a key advocate for Malta’s zodiac stamp series, Chen Juheng, councilor of the Maltese Chinese Chamber of Commerce, noted that this marks the first time a Chinese designer’s work has been featured in Malta’s zodiac collection. He expressed hope for further postal collaborations to promote Chinese zodiac culture within Malta’s philatelic community. 

    MIL OSI China News

  • MIL-OSI China: Harry Potter attraction to be launched in Shanghai in 2027

    Source: China State Council Information Office 3

    A Harry Potter studio tour will open in Shanghai in 2027, which will be the third such attraction globally and the first in China, its developers announced on Wednesday.

    Officially named Warner Bros Studio Tour Shanghai — The Making of Harry Potter, it will be located in the renovated Shanghai Jinjiang Action Park, according to Jin Jiang International Holdings Co and Warner Bros Discovery Global Experiences.

    Jinjiang Action Park, in the city’s Minhang district, closed on Jan 26 for renovations. The new 53,000-square-meter attraction is still in the regulatory approval stage.

    It will offer visitors an immersive behind-the-scenes look at how the Harry Potter franchise brought British author JK Rowling’s seven-volume fantasy novel series to life. Visitors will be able to explore the iconic film sets that were designed by the creators of the films, according to Warner Bros Discovery Global Experiences. It will also feature authentic costumes and props, alongside interactive features.

    The tour will include internal and external spaces that will take around half a day to walk through. A landscaped park area will be created in front of the tour for both visitors and the general public.

    The redevelopment project extends beyond the tour itself, Zheng Bei, chairwoman of Shanghai Jinjiang Action Park Co, told Radio Shanghai. The site will feature three main components, including the Harry Potter attraction, a themed hotel and the iconic Ferris wheel ride, which will be upgraded to be around 118 meters tall.

    The Shanghai location will integrate digital interactive elements with distinctive Chinese elements, Zheng said.

    To manage visitor flow, the attraction will implement a reservation system requiring advance booking for both dates and specific time slots, said Zheng, noting that the park anticipates welcoming approximately 2 million visitors in the first year.

    “Harry Potter’s multigenerational appeal means the Shanghai tour should draw a wide range of fans from teenagers all the way up to adults in their 50s,” Zheng said. “We envision visitors coming from across China and even Southeast Asia.”

    The original Jinjiang Action Park opened in 1984 as Shanghai’s first major theme park.

    “Jinjiang Action Park was a beloved childhood memory for many locals growing up in Shanghai,” said Lu Ping, a local born in the 1980s. “Although the park has experienced several revamps, it was less attractive than before. Bringing a Harry Potter attraction here is a way to rejuvenate this space.”

    Lin Huanjie, director of the Shanghai-based Institute for Theme Park Studies in China, said that introducing an international brand like Harry Potter is a smart move, which will activate Jinjiang Action Park’s brand value and release new consumer vitality.

    “Shanghai is an ideal landing spot given its status as a global city with a booming tourism market and appetite for high-quality themed entertainment,” he added.

    Lin said that the Shanghai tour differentiates itself from Universal Beijing Resort’s Harry Potter-themed land by providing an immersive studio experience focused on the filmmaking process.

    And, he said he expects that it would include Chinese cultural elements.

    “For international branded attractions to truly resonate in China, there needs to be localization that allows Chinese guests to experience and understand the Western stories through an Eastern cultural lens,” he said. “The Harry Potter storylines should remain pure, but other facilities can fuse Chinese philosophy and storytelling traditions.”

    Once officially opened, the studio tour will not just fulfill the dreams of Chinese fans of Harry Potter, but is also expected to attract tourists from South Korea, Southeast Asia and other regions to Shanghai, further boosting the inbound tourism market, he added.

    MIL OSI China News

  • MIL-OSI China: Beijing’s Mentougou to open AI tech park this year

    Source: China State Council Information Office 2

    Construction began Wednesday on the main facility of Zhongguancun (Western Beijing) Artificial Intelligence Technology Park. The park, set to open in the second half this year, is projected to generate an annual output of 10 billion yuan ($1.49 billion).
    Located in Mentougou district, the park spans 800,000 square meters, with its first phase project covering 310,000 square meters. Workers have finished the exterior walls of the park’s first phase, a 3.9 billion yuan project, and are now focusing on interior renovations. The park, designed with a sunken courtyard and winding waterways, aims to host more than 200 AI companies.
    Mentougou district, formerly a major coal mining area in western Beijing, ended its “millennium-long coal mining history” in 2019. AI has since emerged as the district’s leading industry, alongside ultra-high-definition digital audio-visual and cardiovascular medical devices.
    The park, a key project in Beijing’s “two zones” initiative, aims to advance the city’s AI industry. It will develop an ecosystem centered on computing power, data and AI models while focusing on seven sectors: intelligent manufacturing, smart healthcare, AI-driven audio-visual technology, intelligent education, smart cultural tourism, robotics and intelligent transportation. By attracting industry leaders, the park is expected to drive innovation and accelerate the integration of AI across various sectors.
    In addition to financial and technological support, the park will feature specialized industrial facilities, including three factory buildings designed for inspection, testing and small-scale production.
    Zhongguancun Development Group and Mentougou district have established a 1 billion yuan AI industry fund to attract investment while fostering innovation and accelerating industry expansion.

    MIL OSI China News

  • MIL-OSI China: Beijing’s Pinggu kicks start 7 projects

    Source: China State Council Information Office 2

    Beijing’s Pinggu district broke ground Wednesday on seven key projects valued at 3.3 billion yuan ($4.5 billion).
    Among the key projects is the No. 4 Pinggu Agricultural ZGC Comprehensive Research Center. The research facility, scheduled to open in late 2026, will serve enterprises and research institutions focused on biotech breeding and incubation.
    “Center No. 4 will include facilities for scientific research, technology development, pilot production, industry incubation spaces and a conference hall,” said Lu Ming, deputy general manager of Pinggu Lianfu Industrial Co.
    “The ultra-high pilot space will reach 11 meters in height to accommodate various pilot projects,” Lu said.
    Pinggu aims to accelerate more than 160 projects this year to meet its 19 billion yuan annual investment target. The district also plans to develop programs to link related industries and encourage cross-sector partnerships.
    Recognizing the business environment as crucial for development, a Pinggu district official said, “We must treat entrepreneurs as family and consider their business as our own to improve the business environment.”
    This year, Pinggu will formulate 10 major action plans to optimize the business environment and promote reforms in the approval system for industrial projects.

    MIL OSI China News

  • MIL-OSI China: Beijing’s sub-center resumes work on 2 major projects

    Source: China State Council Information Office 2

    Construction resumed this week on two major projects in Beijing’s sub-center after the Spring Festival, marking a strong start to 2025. These projects, the integrated transportation hub and the “Wanli” micro-vacation town, are key components of the sub-center’s development.
    The integrated transportation hub at the Beijing Sub-center Station in Tongzhou district, set to become Asia’s largest underground facility of its kind, is in its final decoration phase. Workers have completed the railway platform structure, with thousands now installing electromechanical equipment throughout the underground complex.
    The railway platforms are ready for track laying and will eventually serve the Beijing-Tangshan Intercity Railway, Beijing-Binhai Intercity Railway and Intercity Railway Connecting Line. The hub, scheduled to open in late 2025, will connect two intercity railways, four subway lines, one suburban railway and 15 bus lines. The facility will provide 15-minute access to Beijing Capital International Airport, 35-minute access to Beijing Daxing International Airport and Tangshan, and one-hour access to both Xiong’an New Area and Tianjin Binhai New Area.
    The “Wanli” micro-vacation town project, adjacent to Universal Beijing Resort, is accelerating construction after completing its main structure before the Spring Festival. Construction teams are now focusing on interior and exterior decoration and equipment installation.
    “Wanli,” situated next to Huazhuang subway station, comprises the Wangfujing Outlets, Tingyun Town and Nuolan Hotel. Tingyun Town, built above a subway depot, is designed to be a model of “station-city integration” in the sub-center.
    The distinctive architectural complex, including the outlet mall, town and five-star hotel, is taking shape, with some glass curtain walls already installed. The outlet mall, set to be the largest in Beijing in terms of building area, features a 30-meter-high dome with a waterfall centerpiece.
    The “Wanli” complex is scheduled to open in the second half of 2025, aiming to attract Beijing residents and tourists with its convenient transportation links and diverse offerings.

    MIL OSI China News

  • MIL-OSI China: Announcement on Open Market Operations No.28 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.28 [2025]

    (Open Market Operations Office, February 13, 2025)

    In order to keep liquidity adequate in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB125.8 billion through quantity bidding at a fixed interest rate on February 13, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB125.8 billion

    1.50%

    Date of last update Nov. 29 2018

    2025年02月13日

    MIL OSI China News

  • MIL-OSI: Flow Traders 4Q and FY 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Flow Traders 4Q and FY 2024 Results

    Amsterdam, the Netherlands – Flow Traders Ltd. (Euronext: FLOW) announces its unaudited 4Q and FY 2024 results.

    Flow Traders posts record fourth quarter results and the second-best fiscal year results in its 20-year history with €159.0m and €479.3m in Total Income, respectively. The company also ends 2024 with record levels of Trading Capital and Shareholders’ Equity at €775m and €766m, respectively.

    Financial Highlights

    4Q 2024

    • Flow Traders recorded Net Trading Income of €153.8m and Total Income of €159.0m in 4Q24, increases of 112% and 114% when compared to the €72.7m and €74.3m in 4Q23, respectively.
    • Flow Traders’ ETP Value Traded increased by 13% in 4Q24 to €424m from €376m in 4Q23.
    • Fixed Operating Expenses were €45.3m in the quarter, an increase of 12% when compared to the €40.4m in 4Q23, due mostly to increased employee and technology expenses and an abnormally low 4Q23 given timing of expenses.
    • Total Operating Expenses were €76.8m in 4Q24, an increase of 23% when compared to the €62.5m in 4Q23, due mostly to higher variable employee compensation expenses.
    • EBITDA was €82.1m in the quarter, an almost seven-fold increase when compared to the €11.8m in 4Q23. EBITDA margin was 52% in 4Q24 vs. 16% in 4Q23.
    • Net Profit came in at €63.2m in 4Q24, yielding a basic EPS of €1.47 and diluted EPS of €1.42, an almost ten-fold increase compared to a Net Profit of €6.4m, basic EPS of €0.15, and diluted EPS of €0.14 in 4Q23.
    • Flow Traders employed 609 FTEs at the end of 4Q24, compared to 605 at the end of 3Q24 and 613 at the end of 4Q23 (see note 1).

    FY 2024

    • For full year 2024, Net Trading Income totaled €467.8m and Total Income was €479.3m, increases of 56% and 58% when compared to €300.3m and €303.9m in FY 2023, respectively.
    • Flow Traders’ ETP Value Traded increased by 5% in FY 2024 to €1,545b from €1,465b in FY 2023.
    • Fixed Operating Expenses for the year totaled €179.1m, an increase of 3% from €174.1m in FY 2023, which is in-line with guidance.
    • Total Operating Expenses for the year was €264.4m, an increase of 12% from €236.3m in FY 2023, due mostly to higher variable employee compensation expenses.
    • EBITDA for the year was €214.9m, up 218% compared to €67.5m in FY2023. EBITDA margin was 45% in FY 2024 vs. 22% in FY 2023.
    • Total Net Profit for the year totaled €159.5m with basic EPS of €3.69 and diluted EPS of €3.56, a more than four-fold increase compared to €36.2m, €0.84 and €0.81 in FY 2023, respectively.

    Trading Capital and Shareholders’ Equity

    • Trading capital stood at €775m at the end of 4Q24 and FY 2024, an increase of 16% compared to €668m at the end of 3Q24 and 33% compared to €584m at the end of 4Q23 and FY 2023.
    • Return on average trading capital2 was 69% in 4Q24 and FY 2024, compared to 49% in 4Q23 and FY 2023. With the accelerating growth of trading capital following the Capital Expansion Plan announced in July 2024, trading returns will be calculated as LTM NTI / Average Trading Capital going forward.
    • Shareholders’ equity was €766m at the end of 4Q24 and FY 2024, an increase of 15% compared to €666m at the end of 3Q24 and 31% compared to €586m at the end of 4Q23 and FY 2023.
    • Flow Traders generated a Return on Equity of 24% in FY 2024, compared to 6% in FY 2023.

    Financial Overview

    €million 4Q24 4Q23 Change FY2024 FY2023 Change
    Net trading income 153.8 72.7 112% 467.8 300.3 56%
    Other income 5.1 1.6   11.5 3.6  
    Total income 159.0 74.3 114% 479.3 303.9 58%
    Revenue by region3            
    Europe 86.9 42.6 104% 274.1 167.8 63%
    Americas 18.2 18.1 1% 93.6 82.1 14%
    Asia 53.8 13.6 295% 111.5 53.9 107%
    Employee expenses            
    Fixed employee expenses 20.2 17.5 15% 81.6 76.0 7%
    Variable employee expenses 31.5 22.1 43% 85.3 57.9 47%
    Technology expenses 16.9 15.3 10% 66.6 64.4 3%
    Other expenses 8.2 7.6 8% 30.9 33.7 (8%)
    One-off expenses4   0.0 4.3 (100%)
    Total operating expenses 76.8 62.5 23% 264.4 236.3 12%
    EBITDA 82.1 11.8 597% 214.9 67.5 218%
    Interest Expense 0.5   1.1 0.0  
    Depreciation & amortisation 4.6 4.2 9% 17.4 18.4 (5%)
    Profit/(loss) on equity-accounted investments (0.1) (0.1) 5% (2.0) (4.5) (55%)
    Profit before tax 76.9 7.4 935% 194.4 44.7 335%
    Tax expense 13.7 1.0 1230% 34.8 8.5 310%
    Net profit 63.2 6.4 888% 159.5 36.2 341%
    Basic EPS5 (€) 1.47 0.15   3.69 0.84  
    Fully diluted EPS6 (€) 1.42 0.14   3.56 0.81  
    EBITDA margin 52% 16%   45% 22%  

    Revenue by Region

    €million 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24
    Europe 58.5 33.1 33.6 42.6 68.4 48.6 70.2 86.9
    Americas 32.8 9.3 22.0 18.1 41.3 13.4 20.8 18.2
    Asia 19.2 9.0 12.1 13.6 19.9 14.2 23.6 53.8

    Value Traded Overview

    €billion 4Q24 4Q23 Change FY2024 FY2023 Change
    Flow Traders ETP Value Traded 424 376 13% 1,545 1,465 5%
    Europe 195 151 29% 655 619 6%
    Americas 193 203 (5%) 776 754 3%
    Asia 36 22 65% 114 93 22%
    Flow Traders non-ETP Value Traded 1,233 1,074 15% 4,703 4,115 14%
    Flow Traders Value Traded 1,657 1,450 14% 6,248 5,580 12%
    Equity 809 762 6% 3,217 3,009 7%
    FICC 783 641 22% 2,817 2,396 18%
    Other 64 48 33% 214 176 22%
    Market ETP Value Traded7 13,192 11,714 13% 47,933 43,081 11%
    Europe 728 557 31% 2,518 2,039 24%
    Americas 9,954 9,877 1% 38,545 35,874 7%
    Asia 2,510 1,280 96% 6,871 5,168 33%
    Asia ex China 582 383 52% 2,020 1,578 28%

    Trading Capital

      1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24
    Trading Capital (€m) 647 574 585 584 609 624 668 775
    Return on Avg Trading Capital2 67% 65% 56% 49% 50% 58% 62% 69%
    Average VIX8 21.0 16.7 15.1 15.4 13.9 14.2 17.1 17.3

    Market Environment

    Europe

    Equity trading volumes in the quarter across major exchanges saw double-digit percentage point improvements when compared to the same period a year ago and single-digit improvements when compared to last quarter. Market volatility increased by single-digits compared to both the same period a year ago and last quarter.

    Fixed Income trading volumes on MTFs saw low double-digit percentage point improvements compared to the same period a year ago and single-digit improvements compared to last quarter.

    Americas

    Equity trading volumes in the U.S. saw single-digit percentage point improvements when compared to both the same period a year ago and last quarter. Market volatility increased slightly when compared to the same period a year ago and was flat compared to last quarter.

    Fixed Income trading volumes in the U.S. were mixed across the various trading venues but were in general better when compared to the same period a year ago but weaker compared to last quarter. Volatility declined when compared to the same period a year ago and was relatively flat when compared to last quarter.

    Asia

    Equity trading volumes in Asia were mixed as Hong Kong and China saw significant increases while Japan experienced declines both when compared to the same period a year ago as well as last quarter. Market volatility, for the most part, increased across all the regions both year-on-year and quarter-on-quarter, with the exception being Japan, where it declined compared to last quarter.

    Digital Assets

    Within Digital Assets, which trades across regions on a 24/7 basis, trading volumes increased significantly both compared to the same period a year ago and last quarter. Volatility increased slightly both year-on-year and quarter-on-quarter.

    Trading Capital Expansion Plan

    In recent years, Flow Traders has successfully diversified its core trading model across different asset classes and geographies, which resulted in increased optionality for the business. The company sees a range of emerging opportunities to accelerate growth by systematically expanding its trading capital base.

    With the 2Q 2024 results, the company announced the suspension of the dividend and bank term loan as the initial steps in boosting the firm’s trading capital. The bank loan and strong net profit generation boosted trading capital by €191m over the course of the year and immediately helped increase the capacity of the firm to capture more of the opportunities that arose during the year given the increased volatility and dislocations across different asset classes and regions around the world. Given the success of the Trading Capital Expansion Plan thus far, the firm will continue to pursue the most strategic debt financing options to further support its growth.

    Treasury Shares

    As a result of the second-best year in company history, portions of the previously repurchased shares from the €25m share buyback program conducted in July 2022 will be reallocated to employee incentive plans.

    Outlook

    Fixed operating expenses for FY 2025 are expected to be in the range of €190-210m given additional technology investments and targeted additions of subject matter experts in growth areas, partially offset by expected operational efficiency gains.

    CEO Statement

    Mike Kuehnel, CEO
    “Flow Traders closed out 2024 with a record fourth quarter and the second-best year in the company’s 20-year history. Following the strategic decision to accelerate the expansion of our trading capital base last July, the additional capital has enabled us to capture additional opportunities and leverage dislocations in the market during a period of heightened volatility across different regions and asset classes. Following one of the calmest markets in recent memory in 2023, we were able to achieve a 69% return on average trading capital in 2024. This demonstrates the robustness and coverage of our trading strategies and is a result of the company’s growth and diversification strategy.

    In the fourth quarter, market trading volumes and volatility increased meaningfully across Europe and Asia, and within equity and digital assets. We were able to capitalize on this increased activity given the significant multi-year investments in talent and technology that we made in Asia and digital assets. Additionally, our partnerships with emerging financial infrastructure providers, such as the Börse Stuttgart Digital and Wormhole partnerships in the digital assets space and OpenYield in the fixed income space, will allow the company to further participate in and shape the future of financial markets.

    As digital assets continue to gain acceptance by governments and institutions around the world, we believe Flow Traders has a pivotal role to play given our strong capabilities in both traditional finance and digital assets ecosystems. With our unique distribution network, technology and pricing capabilities, we aim to be an important bridge by connecting various stakeholders to bring the 24/7 trading currently available in digital assets to the traditional financial landscape. Our partnership with DWS and Galaxy in AllUnity is one example of a platform which we believe could be pivotal in achieving this transition.

    Looking forward to 2025, we will continue to invest in the expansion of our trading capabilities and increasing sophistication, with tailored investments in technology and additional talent given the attractive opportunities in front of us. Opportunities which would otherwise not be possible without the accelerated growth of our trading capital base as a result of our trading capital expansion plan. To offset some of the additional investments, we stay fully committed to the streamlining and automation work to systematically improve efficiency and strengthen our core operations as the firm continues to grow and scale.”

    Preliminary Financial Calendar

    24 April 2025                1Q25 Trading Update

    Analyst Conference Call and Webcast

    The 4Q24 results analyst conference call will be held at 10:00 am CET on Thursday 13 February 2025. The presentation can be downloaded at https://www.flowtraders.com/investors/results-centre and the conference call can be followed via a listen-only audio webcast. A replay of the conference call will be available on the company website for at least 90 days.

    Contact Details

    Flow Traders Ltd.

    Investors
    Eric Pan
    Phone:         +31 20 7996799
    Email:        investor.relations@flowtraders.com

    Media
    Laura Peijs
    Phone:         +31 20 7996799
    Email:        press@flowtraders.com

    About Flow Traders

    Flow Traders is a leading trading firm providing liquidity in multiple asset classes, covering all major exchanges. Founded in 2004, Flow Traders is a leading global ETP market marker and has leveraged its expertise in trading ETPs to expand into fixed income, commodities, digital assets and FX. Flow Traders’ role in financial markets is to ensure the availability of liquidity and enabling investors to continue to buy or sell financial instruments under all market circumstances, thereby ensuring markets remain resilient and continue to function in an orderly manner. In addition to its trading activities, Flow Traders has established a strategic investment unit focused on fostering market innovation and aligned with our mission to bring greater transparency and efficiency to the financial ecosystem. With nearly two decades of experience, we have built a team of over 600 talented professionals, located globally, contributing to the firm’s entrepreneurial culture and delivering the company’s mission.

    Notes

    1. Figures restated to include only active employees and exclude those on garden leave per CSRD definition.
    2. Return on trading capital defined as LTM NTI divided by the average of the prior and current end of period trading capital.
    3. Revenue by region includes NTI, Other Income, and inter-company revenue.
    4. One-off expenses related to the completed corporate holding structure update and capital structure review work.
    5. Weighted average shares outstanding: 4Q24 – 43,066,302; 3Q24 – 43,095,744; 4Q23 – 43,166,257.
    6. Determined by adjusting the basic EPS for the effects of all dilutive share-based payments to employees.
    7. Source – Flow Traders analysis.
    8. Starting in 3Q24, average VIX is calculated as the average of VIX daily closing prices.

    Important Legal Information

    This press release is prepared by Flow Traders Ltd. and is for information purposes only. It is not a recommendation to engage in investment activities and you must not rely on the content of this document when making any investment decisions. The information in this document does not constitute legal, tax, or investment advice and is not to be regarded as investor marketing or marketing of any security or financial instrument, or as an offer to buy or sell, or as a solicitation of any offer to buy or sell, securities or financial instruments.

    The information and materials contained in this press release are provided ‘as is’ and Flow Traders Ltd. or any of its affiliates (“Flow Traders”) do not warrant the accuracy, adequacy or completeness of the information and materials and expressly disclaim liability for any errors or omissions. This press release is not intended to be, and shall not constitute in any way a binding or legal agreement, or impose any legal obligation on Flow Traders. All intellectual property rights, including trademarks, are those of their respective owners. All rights reserved. All proprietary rights and interest in or connected with this publication shall vest in Flow Traders. No part of it may be redistributed or reproduced without the prior written permission of Flow Traders.

    This press release may include forward-looking statements, which are based on Flow Traders’ current expectations and projections about future events, and are not guarantees of future performance. Forward looking statements are statements that are not historical facts, including statements about our beliefs and expectations. Words such as “may”, “will”, “would”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “project”, “believe”, “could”, “hope”, “seek”, “plan”, “foresee”, “aim”, “objective”, “potential”, “goal” “strategy”, “target”, “continue” and similar expressions or their negatives are used to identify these forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of Flow Traders. Such factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward-looking statements. Accordingly, no undue reliance should be placed on any forward-looking statements. Forward-looking statements speak only as at the date at which they are made. Flow Traders expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statements contained in this press release to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law.

    Financial objectives are internal objectives of Flow Traders to measure its operational performance and should not be read as indicating that Flow Traders is targeting such metrics for any particular fiscal year. Flow Traders’ ability to achieve these financial objectives is inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond Flow Traders’ control, and upon assumptions with respect to future business decisions that are subject to change. As a result, Flow Traders’ actual results may vary from these financial objectives, and those variations may be material.

    Efficiencies are net, before tax and on a run-rate basis, i.e. taking into account the full-year impact of any measure to be undertaken before the end of the period mentioned. The expected operating efficiencies and cost savings were prepared on the basis of a number of assumptions, projections and estimates, many of which depend on factors that are beyond Flow Traders’ control. These assumptions, projections and estimates are inherently subject to significant uncertainties and actual results may differ, perhaps materially, from those projected. Flow Traders cannot provide any assurance that these assumptions are correct and that these projections and estimates will reflect Flow Traders’ actual results of operations.

    By accepting this document you agree to the terms set out above. If you do not agree with the terms set out above please notify legal.amsterdam@nl.flowtraders.com immediately and delete or destroy this document.

    All results published in this release are unaudited.

    Market Abuse Regulation

    This press release contains information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Attachment

    The MIL Network

  • MIL-OSI Asia-Pac: Starting February 15, 2025, the Presidential Office will temporarily suspend its monthly Designated Holiday Tours due to operational reasons. Further information regarding the reopening will be announced at a later date. Weekday Tours will remain open as usual. We welcome you to visit.

    Source: Republic of China Taiwan

    News & activities

    News releases

    2025-02-12
    Starting February 15, 2025, the Presidential Office will temporarily suspend its monthly Designated Holiday Tours due to operational reasons. Further information regarding the reopening will be announced at a later date. Weekday Tours will remain open as usual. We welcome you to visit.

    Starting February 15, 2025, the Presidential Office will temporarily suspend its monthly Designated Holiday Tours due to operational reasons. Further information regarding the reopening will be announced at a later date. Weekday Tours will remain open as usual. We welcome you to visit.

    MIL OSI Asia Pacific News

  • MIL-OSI USA: In Senate Budget Committee, Republicans Block Murray Amendments for Bipartisan Approach to Spending, Affirming Congressional Spending Authority, Reversing NIH Cuts, Transparency & Accountability for DOGE, and More

    US Senate News:

    Source: United States Senator for Washington State Patty Murray
    ICYMI: Senator Murray Remarks at Senate Budget Resolution Markup: Blasts Roadmap to Devastating Cuts, Calls for Budget Hearing with Musk – MORE HERE
    Washington, D.C. — Today, at the Senate Budget Committee’s mark up of Senate Republicans’ budget resolution, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee and a senior member and former Chair of the Senate Budget Committee, put forward six amendments to steer Republicans toward a bipartisan approach to spending, affirm Congress’ power of the purse, reverse massive arbitrary cuts to NIH, deliver transparency into the so-called Department of Government Efficiency (DOGE), and more. Republicans unanimously opposed every amendment Murray and other Democrats offered.
    MURRAY AMENDMENT 01: Senator Murray first proposed an amendment to address defense and nondefense needs equally—tackling national security concerns and challenges at the border alongside priorities like supporting our veterans, biomedical research, child care, agriculture, and more—noting that such investments should be a part of ongoing bipartisan topline negotiations between appropriators. Rather than the $342 billion Republicans are proposing in mandatory funding through the partisan reconciliation process, Murray’s amendment would have provided $171 billion in discretionary funding for defense and $171 in discretionary funding for non-defense needs.  Unlike the partisan approach taken by Republicans, the funding under the Murray amendment would be available to address a range of critical needs, including but not limited to national security and the border.
    “Democrats share many of your concerns about investing in our national security, providing more resources to address the challenges at the border, and making sure we counter China,” said Senator Murray of her amendment to equally divide the proposed spending toward defense and non-defense priorities. “While also wanting to make sure we address critical areas like supporting veterans, agriculture, wildfires, disaster response, biomedical research, child care, and much more. So, the approach in my amendment is to say we should work together on a bipartisan basis – and really this should be part of the topline conversations we are having now as we hurtle toward the March 14th funding deadline. I want to make clear Democrats remain at the table on the FY 2025 topline – but it is getting pretty lonely for us when we see Republicans assume a trillion dollars for this year alone in unilateral DOGE cuts, remain quiet as Russ Vought and the administration continues to unlawfully impound funds, and now propose to jam through $342 billion in funding for your priorities on a partisan basis—while I am trying to negotiate in good faith a bipartisan, four-corner topline deal for fiscal year 2025. I would urge my Republican colleagues to get serious and keep your eye on the ball regarding the funding lapse on March 14th, not to mention the sequester cuts at the end of April.”
    MURRAY AMENDMENT 06: Senator Murray pressed her colleagues to pass an amendment to stand up to the Trump Administration and affirm Congress’ power of the purse which Republicans all unanimously opposed.
    “This is not a partisan issue—it is about upholding our laws and Congress’s constitutional authority over federal spending,” said Senator Murray of her amendment to affirm Congressional spending authority. “The Constitution grants Congress—not the President—the power of the purse. This has been affirmed time and again—by: The Supreme Court, Congress, The Government Accountability Office, and others. And yet, Trump, Elon Musk, and Russ Vought have been holding up huge chunks of funding that Congress passed—often on a bipartisan basis. When Presidents ignore our spending laws and the power of the purse our Constitution gives Congress—not the president—it doesn’t just block funding for the American people, it erodes the trust necessary for bipartisan negotiations in Congress. As I have emphasized, Members of Congress—on both sides—must know a deal is a deal. This amendment is about protecting the integrity of our democratic process—our most fundamental checks and balances. Every Senator—Republican or Democrat—should support this amendment to preserve Congress’s authority and maintain the trust necessary for effective governance.”
    MURRAY AMENDMENT 17: Senator Murray also offered an amendment to reverse the Trump Administration’s indiscriminate cut to biomedical research and the lifesaving work supported by the National Institutes of Health (NIH) at research institutions across the country—which no Republican spoke in opposition to during debate, but every Republican voted in opposition.  
    “On Friday night the Trump Administration announced it was implementing a policy to arbitrarily cut National Institutes of Health funding that supports biomedical research at institutions across the country,” said Senator Murray of her amendment to reverse Trump’s proposed policy on indirect costs. “In capping indirect cost rates at 15 percent for NIH-funded grants, this policy would cut funding that is essential to conducting research – such as operating and maintaining labs and research facilities. That is in clear violation of our annual appropriations bills, which have included an explicit prohibition on NIH implementing a policy exactly like this since fiscal year 2018. Fortunately, a court has temporarily paused the policy, but let’s be clear, if the Trump administration were to be successful in gutting NIH funding in this way, it would be absolutely catastrophic for lifesaving research patients and families are counting on, including lifesaving cancer research at Fred Hutch in my home state of Washington, and at so many other institutions in Red and Blue states nationwide.”
    “Research would come to a halt, sick kids would not get the treatment they need, and clinical trials would shut down abruptly,” Murray continued. “Our commitment to supporting basic research infrastructure—which this policy does—is what helped make the American research enterprise the best in the world.  This is funding that helps produce medical breakthroughs and change patients’ lives and ensure that the U.S. continues to be the global leader in biomedical research. NIH is an important economic driver in just about every single one of our states—creating jobs and spurring innovation.”
    MURRAY AMENDMENT 05: Senator Murray pushed for passage of an amendment to have the Senate request the Government Accountability Office (GAO) to review, audit and report back within 90 days on DOGE, including the appropriateness of the authorities and finances under which it is operating; internal controls and compliance with appropriations, data privacy, and other laws; the hiring, vetting, and security clearance of its employees, special government employees, and volunteers; appropriateness of actions taken to cancel contracts, reassign or otherwise change the status of federal employees; and any other areas deemed appropriate by the Comptroller General. Every Republican voted no.
    “My amendment requests the Government Accountability Office to review, audit and report back within 90 days on the so called Department of Government Efficiency so that we can understand its role, authorities, and impacts,” said Senator Murray of her amendment to provide some level of transparency into DOGE. “Mr. Chairman, your Mark assumes $1 trillion in savings over the remaining seven to eight months in 2025. That is an astronomical amount of savings to achieve in a very short amount of time and with absolutely no detail provided to us. Those savings would appear largely to come from DOGE, which is operating throughout the government without any authorization from Congress, without any normal disclosure of people, processes, or conflicts, and really with no accountability whatsoever. Whether you support some actions of DOGE or not, you should support transparency and accountability to Congress and the American public. Elon Musk and DOGE have already tried to shut down USAID, the Consumer Financial Protection Bureau, and we are told it is now targeting the Department of Education, with the President saying he wants Musk over at the Pentagon next. None of this is normal – not DOGE, the involvement of an unelected billionaire, the vast influence it has, or the actions they have taken to date with little or no input from Congress.”
    “Let’s be clear—no one voted to let an unelected billionaire decide what bills the federal government would or wouldn’t pay or whether our elementary schools and hospitals get funding, but President Trump is giving Elon the keys to the Treasury,” continued Senator Murray. “And, again, the lack of transparency into its people, processes, and potential conflicts should concern every one of us. So, my hope is with this amendment we can agree to some oversight of DOGE and ask Congress’s independent, nonpartisan watchdog, the GAO, to review DOGE and report back to us within 90 days. And if you are not supportive of this—I have to ask, what are you scared of finding out?”
    MURRAY AMENDMENT 15: Murray also put forward an amendment to prevent federal disaster assistance from being included in the highly partisan budget reconciliation process and ensure that federal disaster relief funds go to the communities that need them when they need them.
    MURRAY AMENDMENT 14: Murray also pressed to pass an amendment, modeled off her Veteran Families Health Services Act, to provide additional funding for improving the reproductive assistance provided by the Department of Defense and the Department of Veterans Affairs to members of the Armed Forces, veterans, and their spouses or partners—particularly for IVF. Every Republican also opposed these amendments, notwithstanding their intention to significantly increase the size of our military through their reconciliation plan, which will result in even more servicemembers and veterans needing reproductive assistance.
    Prior to consideration of amendments, Senator Murray underscored in her opening comments that the resolution Senate Republicans have put forth is a roadmap to devastating cuts to programs families count on every day—from Medicaid to SNAP to veterans benefits—so that Republicans can later pass more tax breaks for the ultra-rich. Senator Murray emphasized that right now Congress’ focus should be on addressing the fast-approaching March 14 funding deadline and addressing President Trump and Elon Musk’s sweeping, illegal funding freeze—not a partisan measure to gut investments in working people. She also called for Elon Musk to come before the Committee to discuss his already in-motion efforts to decimate programs people count on.

    MIL OSI USA News

  • MIL-Evening Report: This is Australia’s only icebreaker. Here’s why experts say we need another

    Source: The Conversation (Au and NZ) – By Jane Younger, Lecturer in Southern Ocean Vertebrate Ecology, Institute for Marine and Antarctic Studies, University of Tasmania

    Australia’s Antarctic territory represents the largest sliver of the ice continent. For decades, Australian scientists have headed to one of our three bases – Mawson, Davis and Casey – as well as the base on sub-Antarctic Macquarie Island, to research everything from ecology to climate science.

    But despite our role as leaders in Antarctic science, Australian funding and logistics for Antarctic research hasn’t kept pace. Our single icebreaking vessel spends most of its time on resupply missions, restricting its use for actual science. And funding is often piecemeal, which makes it hard to plan the complex, multi-year efforts it takes to do research down on the ice.

    This week, we saw a welcome change. The federal parliamentary committee on Australia’s external territories delivered a report calling for a second icebreaking vessel and more reliable funding. It also urged the government to progress work on marine protected areas in east Antarctica as well as resume fishing patrols, due to concern over illegal or exploitative fishing.

    These measures are long overdue. For those of us who work and study on the ice continent, logistics and funding have long been a challenge. Illegal fishing in Antarctica must be stamped out, and a second vessel would support our ambitious, world-leading science.

    Why is Antarctic science so important?

    Antarctica is often out of sight, out of mind for many Australians. But what happens on the ice doesn’t stay there.

    For climate science, Antarctica matters a great deal. For decades, much of the concern about melting ice focused on the Arctic and Greenland, while Antarctica stayed relatively stable. But this is now changing. Sea ice is melting more quickly than in the past. Glacial ice is retreating. Increased melting will affect sea level rise and ocean currents.

    I study diseases such as the lethal strain of bird flu which has devastated bird and some mammals populations around the world. It recently reached Antarctica, where it killed large numbers of penguins, skuas, crabeater seals and more. I saw the devastation myself on my recent journey there.

    If this strain makes it to Australia – the last continent free of it – it could come from the south and devastate both Australian wildlife and poultry.

    To study these large and important changes, we need to be down there on the ice. It’s not an easy task. Keeping our bases functional means we need regular resupply missions. Repairs and extensions require tradies. Scientists and other workers need to be brought home.

    Antarctic science has long relied on just one vessel, now the RSV Nuniya, which the Australian Antarctic Division describes as the “main lifeline to Australia’s Antarctic and sub-Antarctic research stations and the central platform of our Antarctic and Southern Ocean scientific research”.

    The problem is, resupply can trump science. After all, no one wants bases running short of food or fuel. This is, in fact, what the Nuniya is largely doing.

    Australia’s role is key

    The Australian Antarctic Territory represents about 40% of the ice continent – the largest territory by far.

    Territory, here, doesn’t mean exclusive rights. In 1959, 12 nations with a scientific interest in the ice continent signed the Antarctic Treaty. This treaty was an agreement that Antarctica – the only landmass with no indigenous human presence – would be reserved for peaceful, scientific purposes.

    But in recent years, this treaty has come under pressure. Nations such as Norway and China have expanded fishing operations for krill. Illegal and unregulated fishing from various nations continues.

    The report recommends the Australian government continue efforts to establish a marine protected area off East Antarctica – where fishing would be restricted – as well as reopening fishing patrols. China – which recently opened its fifth Antarctic base – is opposed to the idea of fishing-free zones and is pushing to expand fishing in the Southern Ocean.

    Under Antarctica’s ice lie many resources. Mining is banned in Antarctica until 2048. What happens after that is uncertain. The race to tap critical minerals in Greenland signals what may lie ahead for Antarctica.

    This is why Australia’s leadership in Antarctic science matters. Australia was an original signatory to the Antarctic Treaty, and has a long history of exploration and science. Hobart has long been the home of Australia’s Antarctic vessels.

    As Antarctica changes, Australian scientists must be there to analyse, understand and report back. To do that, improvements are needed, including new vessels and longer-term funding. This report is the first step.

    The government is yet to formally respond to the report’s recommendations. Let’s hope it takes heed of the findings.

    Jane Younger receives funding from the Australian Research Council, WIRES Australia, the Geoffrey Evans Trust and the National Geographic Society.

    ref. This is Australia’s only icebreaker. Here’s why experts say we need another – https://theconversation.com/this-is-australias-only-icebreaker-heres-why-experts-say-we-need-another-249714

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: OPEC maintains oil demand forecasts for 2025, 2026

    Source: China State Council Information Office 3

    Photo taken on Nov. 30, 2023 shows the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria. [Photo/Xinhua]

    The Organization of the Petroleum Exporting Countries (OPEC) announced on Wednesday that it is maintaining its previous forecasts for global oil demand growth in 2025 and 2026.

    In its February monthly oil market report, OPEC projects a “healthy” increase in global oil demand, estimating growth of 1.45 million barrels per day (bpd) in 2025, followed by a rise of 1.43 million bpd in 2026, figures unchanged from last month’s assessment.

    “Growth this year is expected to be driven by transportation fuels on the back of strong air travel demand and healthy road mobility. Support is also expected to come from the industrial, construction and agricultural sectors in non-OECD (the Organization for Economic Co-operation and Development) countries,” OPEC said.

    The organization also left its global economic growth projections for 2025 and 2026 unchanged, forecasting a 3.1 percent expansion this year and 3.2 percent in the following year.

    MIL OSI China News

  • MIL-OSI China: Widespread egg rationing sweeps US stores

    Source: China State Council Information Office 3

    This photo taken with a mobile phone on Feb. 7, 2025 shows a price tag on a shelf for eggs at a local supermarket in El Monte, Los Angeles County, California, the United States. [Photo/Xinhua]

    More U.S. grocery chains are implementing egg purchase limits as bird flu outbreaks continue to disrupt supplies, with California shoppers particularly feeling the squeeze through restricted purchases and early morning queues.

    At a Costco store in San Jose, California, the warehouse has been limiting purchases to three cartons per customer since Saturday, according to a store employee named Pauline. By late morning on Tuesday, only 15 cartons remained — all higher-priced organic brown and green eggs, with no white eggs available. The store has posted the sales limit sign at the entrance, effective Tuesday.

    “You need to come early to make sure you can buy eggs,” Marcie Lopez, a customer at the store, told Xinhua, noting that eggs are getting more expensive and harder to buy this year.

    “No eggs, no eggs, no eggs,” a clerk at another Costco store in Azusa, California, told the people waiting in line just after the location opened on Monday morning.

    “It’s unbelievable, we came so early in the morning, but we still couldn’t buy eggs,” a customer, who gave her name as Luna, told Xinhua.

    The rising prices and empty shelves are fueling consumer anxiety. Social media platforms like TikTok are flooded with videos of shoppers rushing to grab eggs, sometimes emptying freshly stocked shelves in minutes. One viral video from a Costco store showed eggs being snapped up in less than 10 minutes, with customers grabbing eggs by the hundreds.

    Nationwide, retailers are scrambling to manage dwindling supplies. Trader Joe’s has implemented a one-dozen limit per customer per day across all of its over 600 U.S. locations.

    “Due to ongoing issues with the supply of eggs, we kindly ask you to limit your purchase to 1 dozen of any kind,” wrote a Trader Joe’s store in Monrovia in a sign for customers shopping for eggs, noting that “we hope to have ample supply soon. Until then, we appreciate your understanding.”

    Whole Foods has capped purchases at three cartons per shopper, while Kroger stores are limiting customers to two dozen eggs per trip.

    Other major chains have followed suit. Sprouts has implemented a four-dozen limit per visit, Giant Eagle is asking customers to limit purchases to three cartons per transaction, and Market Basket stores in Massachusetts are restricting egg purchases to two cartons per family.

    In California, a Safeway supermarket in Santa Clara has been limiting customers to two dozen per visit for the past month. An employee, who called himself John, explained to Xinhua that the store doesn’t receive daily egg deliveries, instead stocking twice daily — at 7 a.m. and noon — to spread out availability. Even with these measures, eggs typically sell out by late afternoon.

    The restrictions come as highly pathogenic avian influenza (HPAI) continues to impact egg-laying flocks nationwide. According to the U.S. Department of Agriculture (USDA) Eggs Markets Overview report published on Friday, more than 150 million poultry birds have been killed in attempts to combat the H5N1 virus, causing egg prices to soar and supplies to dwindle.

    The national trading price for graded, loose, white large shell eggs has risen to 7.34 U.S. dollars per dozen, while the California wholesale price for cage-free large shell eggs has reached 9.11 dollars per dozen. The report expects the supply situation to remain tight, with little chance for near-term improvement.

    As a result, many grocers are limiting promotional activities and implementing purchase restrictions to stretch existing supplies.

    “Due to recent market conditions, egg prices have increased. We apologize for any inconvenience,” wrote an Aldi store in Monrovia in a sign inside the shop, adding that “due to supply challenges, eggs are limit 2 per customer.”

    Some retailers are maintaining high prices to dampen demand, and egg product manufacturers have increased their demand, leading to sharp price advances in the spot market.

    USDA predicts egg prices will increase about 20 percent in 2025, far outpacing the projected 2.2 percent increase in overall food prices. The prices in December 2024 were already 36.8 percent higher than the previous year, according to USDA data.

    Saloni Vastani, an associate professor of marketing at Emory University, told USA Today that the shortage is being exacerbated by consumer behavior.

    “Egg prices are going up because of the avian flu, but that’s driving people to buy more eggs than they usually do because they’re anticipating higher prices and reduced grocery store supply,” Vastani explained.

    The impact has extended to restaurants as well. Waffle House, which serves approximately 272 million eggs annually, recently implemented a 50-cent per egg surcharge across its roughly 2,100 U.S. locations.

    MIL OSI China News

  • MIL-OSI China: China’s futures market sees double-digit growth in trading turnover

    Source: China State Council Information Office

    China’s futures market reported double-digit year-on-year growth in trading turnover last month, industrial data showed Wednesday.

    Total trading turnover rose 11.01 percent year on year to 48.87 trillion yuan (about 6.81 trillion U.S. dollars) in January, according to data from the China Futures Association.

    The trading volume of the market reached 553 million lots last month, edging up 0.09 percent from a year ago, the data showed.

    In terms of trading turnover, the top three futures were gold, silver and crude oil at the Shanghai Futures Exchange last month; caustic soda, rapeseed oil, and rapeseed meal at the Zhengzhou Commodity Exchange; palm oil, soybean meal, and soybean oil at the Dalian Commodity Exchange; and industrial silicon, lithium carbonate and polycrystalline silicon at the Guangzhou Futures Exchange, according to the data.

    Market performance in January demonstrated an overall strong trend in the bulk commodity market, according to the association.

    MIL OSI China News

  • MIL-OSI China: Annual social logistics value hits 360.6 trillion yuan

    Source: China State Council Information Office

    China’s total social logistics value rose 5.8 percent year on year to 360.6 trillion yuan (about 50.28 trillion U.S. dollars) in 2024, data from the China Federation of Logistics and Purchasing showed Tuesday.

    Industrial logistics, the main driver of the overall growth, rose by 5.8 percent to reach 318.4 trillion yuan. High-tech products, including integrated circuits, reported a logistics volume growth exceeding 15 percent.

    The ratio of social logistics costs to GDP fell to 14.1 percent, a decrease of 0.3 percentage points compared to 2023, reflecting improved efficiency.

    The reduction in costs is attributed to the upgrading and improvement of logistics infrastructure, as well as the optimization and enhancement of the logistics structure.

    By the end of 2024, the country had built 151 national logistics hubs and over 2,500 overseas warehouses. It also opened 168 new international cargo flight routes in 2024.

    “Logistics infrastructure upgrades and optimized networks have boosted resource allocation and cross-border connectivity,” said Hu Han, an official with the China Logistics Information Center.

    Hu said that China’s economy is fundamentally solid, resilient, and full of potential, providing strong support for the long-term development of its logistics industry.

    MIL OSI China News

  • MIL-OSI China: US stocks close mixed after hot inflation data

    Source: China State Council Information Office

    U.S. stocks ended mixed on Wednesday, as the unexpected rise in inflation led to speculation that the Federal Reserve may delay interest rate cuts to manage the economy’s overheating.

    The Dow Jones Industrial Average declined by 225.09 points, or 0.50 percent, ending at 44,368.56. The S&P 500 decreased by 16.53 points, or 0.27 percent, to close at 6,051.97. In contrast, the Nasdaq Composite Index edged up by 6.09 points, or 0.03 percent, finishing at 19,649.95.

    Within the S&P 500’s 11 primary sectors, nine closed in negative territory. Energy and real estate sectors led the declines, losing 2.69 percent and 0.91 percent, respectively. Conversely, consumer staples and communication services sectors posted gains, rising 0.23 percent and 0.04 percent, respectively.

    The U.S. Bureau of Labor Statistics reported Wednesday that the consumer price index (CPI), a comprehensive measure of the costs of goods and services across the U.S. economy, accelerated by 0.5 percent on a seasonally adjusted basis for the month, pushing the annual inflation rate to 3 percent. This outcome surpassed the estimates, which had predicted a 0.3 percent monthly increase and a 2.9 percent annual rate, with the annual rate rising by 0.1 percentage point compared to December.

    Excluding volatile food and energy prices, the CPI advanced by 0.4 percent for the month, resulting in a 12-month inflation rate of 3.3 percent — again beating the respective forecasts of 0.3 percent and 3.1 percent — and the annual core rate was up by 0.1 percentage point from December.

    “Shelter costs continue to be the main driver of core inflation as higher mortgage rates push more Americans into a rental market in which vacancy rates are near record lows,” said Erik Norland, chief economist at CME Group. “Traders appear to believe that today’s data make additional Fed cuts less likely than they had expected previously.”

    “The ‘wait and see’ Fed is going to be waiting longer than anticipated after a red-hot January CPI inflation report,” wrote Josh Jamner, investment strategy analyst at ClearBridge Investments. “This report puts the final nail in the coffin for the rate cut cycle, which we believe is over.”

    Market expectations have shifted, with traders now pricing the next rate cut to occur no earlier than September, even as Fed Chair Jerome Powell cautioned against reading too much into the latest CPI report. “We don’t get excited about one or two good readings and we don’t get excited about one or two bad readings,” Powell said in testimony before the House Financial Services Committee.

    Powell reiterated Wednesday that while the Fed has made “great progress” in bringing inflation closer to its 2 percent target, it is “not quite there yet.” He emphasized the need to keep monetary policy restrictive for now.

    Meanwhile, a new round of earnings has provided insight into the resilience of Corporate America. Kraft Heinz shares slipped after the company’s 2025 profit outlook fell short of expectations, whereas CVS Health enjoyed a boost as its quarterly profit drop was smaller than anticipated.

    In after-hours trading, Reddit’s upcoming results are drawing significant attention amid lofty Wall Street expectations, and Robinhood’s report is also in the spotlight following a three-year high in its stock price.

    MIL OSI China News

  • MIL-OSI China: China establishes over 30,000 smart factories

    Source: China State Council Information Office

    This photo taken on Aug. 14, 2024 shows the new energy vehicles assembly line of a smart factory of Seres Group in Chongqing, southwest China. [Photo/Xinhua]

    China has built over 30,000 basic-level smart factories as part of a nationwide push to accelerate industrial digitalization and intelligent upgrading, according to the Ministry of Industry and Information Technology (MIIT).

    The initiative, under the smart factory gradient cultivation action, has also seen the creation of 1,200 advanced-level and 230 excellence-level smart factories. This achievement highlights the significant progress that has been made in reshaping the country’s manufacturing landscape, according to the ministry.

    The 230 excellence-level factories, distributed across all 31 provincial regions in China and covering over 80 percent of manufacturing sectors, have carried out nearly 2,000 advanced scenarios, including smart warehousing, AI-powered quality inspections, and digital research and development, said MIIT.

    On average, these factories are 28.4 percent shorter in product development cycles, 22.3 percent higher in production efficiency, 50.2 percent lower in defect rates and 20.4 percent lower in carbon emissions, said the ministry.

    MIIT, alongside five other state agencies, jointly launched a smart factory gradient cultivation action last year and classified smart factories into four tiers based on technological maturity and integration depth, including the basic-level, the advanced-level, the excellence-level and the pioneer-level.

    For instance, basic-level smart factories are required to develop foundational capabilities in digitization and networking. This involves deploying the necessary smart manufacturing equipment, industrial software, and systems centered around typical scenarios of smart manufacturing. By doing so, they can achieve real-time data collection, automation of key production processes, enhance the informatization of production and operational management, and utilize intelligence exploration in certain aspects.

    Moving forward, MIIT will expand excellence-level smart factory promotion and prepare to launch pioneer-level cultivation, aiming to further promote the expansion, deeper integration, and elevated evolution of intelligent manufacturing, it said.

    MIL OSI China News

  • MIL-OSI China: CATL aiming to raise over $5B from HK listing

    Source: China State Council Information Office

    Contemporary Amperex Technology Co Ltd, the world’s largest electric vehicle battery maker, has filed for a Hong Kong listing that is expected to be the city’s biggest initial public offering in four years.

    The long-awaited CATL listing aims to raise more than $5 billion, which the company said will fund overseas production capacity and international business expansion, supporting its long-term global strategy.

    Already an A-share listed company, CATL’s Hong Kong listing will attract more international capital, further diversifying its financing channels, said analysts.

    According to public disclosures, as of June 2024, CATL had foreign currency balances of $6.74 billion and 3.86 billion euros ($4 billion), which were challenging to cover the hefty investments in Europe and other regions, as well as the ongoing need for overseas strategic expansion that often amount to billions of euros.

    Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation, said CATL’s Hong Kong listing is poised to assist the company in garnering funds on a global scale to support its endeavors in overseas research and development, production capacity expansion and market outreach. Additionally, the Hong Kong listing is expected to enhance CATL’s brand influence in international markets, strengthening its global competitiveness.

    “This listing opens avenues for financing. Given CATL’s expansive global reach, substantial financial support is imperative, a need that can be met through a successful IPO. In addition, CATL’s global expansion necessitates collaboration from diverse stakeholders. By opting for a Hong Kong listing, CATL can also engage with a broad spectrum of international investors. This move is pivotal in enhancing CATL’s global standing,” Zhou said.

    In recent years, CATL has accelerated its overseas expansion efforts, establishing battery factories in European countries including Germany and Hungary. In December, CATL signed a joint venture agreement with Dutch automotive group Stellantis that will build a large-scale lithium iron phosphate battery plant in Zaragoza, Spain.

    According to SNE Research — a South Korean company providing global market research and consulting services for rechargeable battery industries — CATL maintained its top position globally in terms of battery usage for electric vehicles from January to November 2024, witnessing a 28.6 percent year-on-year growth. Following CATL are BYD and LG Energy Solution.

    Many major Chinese original equipment manufacturers such as Zeekr, Aito and Li Auto, operating in the world’s largest EV market of China, have integrated CATL’s batteries into their products.

    Furthermore, prominent global OEMs including Tesla, BMW, Mercedes-Benz and Volkswagen have also chosen CATL’s batteries for their EV models.

    MIL OSI China News

  • MIL-OSI USA: Duckworth Outlines How Trump’s Attack on USAID is Hurting National Security and All Americans

    US Senate News:

    Source: United States Senator for Illinois Tammy Duckworth
    February 12, 2025
    [WASHINGTON, D.C.] – Today, U.S. Senator Tammy Duckworth (D-IL)—a member of the U.S. Senate Foreign Relations Committee (SFRC)—outlined how President Donald Trump’s illegal foreign assistance freeze and dismantling of USAID undermines our national security, empowers our adversaries and jeopardizes Americans’ economic security. Her discussion with the panel highlighted how USAID programs abroad help improve the global competitiveness of American products. Video of Duckworth’s full remarks can be found on the Senator’s YouTube.
    “Donald Trump promised he’d lower costs and keep Americans safe, but his attack on USAID is doing the opposite: hurting our national security and empowering our adversaries,” Duckworth said. “The only people winning here are our adversaries and those who thrive on chaos—whether that be the PRC, Russia or Elon Musk. Meanwhile, Trump’s destructive actions are causing real harm to people’s lives and their livelihoods.”
    Duckworth has repeatedly called out President Donald Trump and his Administration’s illegal attack on USAID. Last week, Duckworth led her fellow SFRC Democratic colleagues in demanding immediate answers from U.S. Secretary of State Marco Rubio on how much it will cost American taxpayers to pull USAID workers off the job overseas and relocate them back to the United States. Duckworth also spoke out against Trump’s ongoing illegal power grabs—including the shuttering of USAID—on the Senate floor as part of Senate Democrats’ 30-hour protest opposing Project 2025 architect Russell Vought’s nomination to serve as the Director of the Office of Management and Budget (OMB). As a result of Trump’s ongoing lawlessness, Duckworth also announced that she will be a blanket-no on all remaining top-level cabinet nominees.
    -30-

    MIL OSI USA News

  • MIL-OSI Asia-Pac: MOEA Minister Confers Medal on Japan’s Former Vice Minister for International Affairs at METI

    Source: Republic Of China Taiwan 2

    On January 17, 2025, Minister Kuo conferred the Medal of Economic Contribution upon Mr. Hirohide Hirai, the former Vice Minister for International Affairs at Japan’s Ministry of Economy, Trade and Industry (METI). The honor was in recognition of his pivotal role in strengthening semiconductor cooperation and industrial investment between Taiwan and Japan.

    During Mr. Hirai’s tenure at METI, he played a crucial role in facilitating TSMC’s investment in Japan, particularly in garnering government backing for TSMC’s Kumamoto fab, and thus establishing a landmark in Taiwan-Japan economic collaboration. Minister Kuo noted that this investment has catalyzed increasing demand for and cooperation on semiconductors, AI, and digital transformation, and further strengthened bilateral industrial ties.

    Mr. Hirai, currently serving as an executive director at Hitachi, Ltd., shared his endeavors between 2020 and 2021 in securing Japanese government subsidies and support to attract TSMC’s investment. He also expressed support for Minister Kuo’s proposal to strengthen bilateral cooperation on semiconductor supply chain in Kyushu.

    The award acknowledges Mr. Hirai’s contributions to strengthening industrial partnerships between Taiwan and Japan, thereby paving the way for deeper cooperation in next-generation technologies and global supply chain resilience.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: The National Credit Guarantee Mechanism Invigorates Offshore Wind Power Financing Mechanisms and Strengthens Market

    Source: Republic Of China Taiwan 2

    According to Ministry of Economic Affairs (MOEA), domestic enterprises have a large and competitive demand for green electricity (such as RE100) to enhance international competitiveness, and advanced manufacturing processes require higher proportions of green electricity. Thus, increasing the share of green electricity in products made in Taiwan by 2030 has become an urgent priority. The National Credit Guarantee Mechanism aims to encourage investments from banks and insurance funds to support offshore wind farms and accelerate offshore wind power construction, thus ensuring sufficient green electricity for domestic high-tech industry to enhance export competitiveness and achieve the 2050 net-zero target.

    Amid public skepticism over the National Credit Guarantee Mechanism, the Energy Administration (EA) of the MOEA explained that the development of offshore wind power has progressed to the Zonal Development phase, with an estimated financing demand of NT$1.08 trillion between 2026 and 2031. The National Development Council (NDC), the Ministry of Finance, and the MOEA have jointly launched initiatives involving the National Development Fund and eight major state-owned banks to provide financing guarantees, with a total capacity of NT$90 billion. This mechanism assists offshore wind farms in obtaining financing and also offers guarantees to eliminate barriers for general enterprises seeking to purchase green electricity. The government remains committed to fostering a benign investment environment for offshore wind power development.

    The EA further stated that the MOEA and the NDC have recently collaborated to raise the national credit guarantee ratio from 60% to 80% for green energy construction projects by project financing developers, enhancing the full credit guarantees for banks to participate in wind farm projects, incentivizing state-owned banks and other financial institutions to finance offshore wind farms, and supports the sustainable development of offshore wind power market in Taiwan.

    Furthermore, the EA noted that offshore wind power financing operations require the long-term and stable financial capacity for electricity procurement. Therefore, the National Credit Guarantee Mechanism can provide any single general business up to 80% of credit guarantees for procurement of green electricity, which provides additional credit protection for domestic electricity-purchasing enterprises without long-term international credit ratings, and, at the same time, boosts the banks’ confidence when reviewing Corporate Power Purchase Agreements (CPPA), improving the financial structure of wind farms.

    Spokesperson for Energy Administration, Ministry of Economic Affairs:
    Deputy Director General, Chun-Li Lee
    Phone: 02-2775-7700, 0936-250-838
    Email: chunlee@moeaea.gov.tw

    Business Contact: Director, Chung-Hsien Chen
    Phone: 02-2775-7770, 0919-998-339
    Email: ctchen2@moeaea.gov.tw

    MIL OSI Asia Pacific News

  • MIL-OSI China: China leads in energy transition investment

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

    China led the world in energy transition investment last year, accounting for two-thirds of the $2.1 trillion spent globally in 2024, according to BloombergNEF (BNEF), a research and advisory firm.

    Driven by strong domestic demand, China remained the dominant force in clean energy investment last year, with spending focused on solar power, lithium batteries, electric vehicles, and power grids, BNEF said in its recently released Energy Transition Investment Trends 2025 report.

    With a 20 percent year-on-year growth, the Chinese mainland alone contributed $134 billion of the $202 billion global investment increase in 2024. The country posted solid growth across multiple sectors, including renewables, energy storage, nuclear power, EVs, hydrogen, heat pumps and power grids, it said.

    China’s rapid investment surge widened its lead over other economies, with its energy transition spending more than double that of any other country. Even when adjusted for economic size, China’s investment accounted for 4.5 percent of its GDP, far exceeding countries like the United States with 1.2 percent, said the research firm.

    China’s renewable energy sector experienced a stellar year in 2024, with the total installed capacity of wind and solar power surpassing 1.4 billion kilowatts, further reinforcing the country’s role as a global leader in renewable energy development.

    Industry experts said China has always been a global leader in the green energy shift.

    The Sinopec Economics and Development Research Institute, a think tank that is part of China Petroleum and Chemical Corp, has forecast that China’s investment in its energy transition is expected to surpass $1 trillion by 2030, with a focus on enhancing energy efficiency and accelerating electrification.

    China has doubled the share of renewable energy in its energy investment mix, spending more than 40 percent of its energy transition funds on renewables, or roughly twice the amount allocated to fossil fuels, said Luo Daqing, vice-president of the institute.

    According to Zhou Libo, deputy secretary-general of the China Electricity Council’s electric transportation and energy storage branch, investment in China is set to continue growing in integrated energy stations, photovoltaic-storage-charging hubs and supercharging stations.

    Data released by BNEF reveal that China also maintained its dominance in the clean energy supply chain, accounting for 81 percent of global supply chain investment in 2024.

    BNEF expects China to continue leading global clean energy spending in the years ahead.

    Beyond renewables, investment in other low-carbon energy sources, including nuclear power, rose sharply in 2024, underscoring a global revival of nuclear energy, it said.

    MIL OSI China News

  • MIL-OSI China: Nation’s rail network continued to break records in 2024

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

    Remarkable progress was made in China’s railway sector in 2024, with the improvement of the nation’s transportation infrastructure contributing to economic growth and improving lives.

    As of the end of last year, China’s railway network had stretched to 162,000 kilometers, with 48,000 km dedicated to high-speed rail, further pressing its advantage as the global leader in high-speed rail. The network also expanded into more remote and mountainous areas, where constructing railways was once considered impossible.

    Freight train services linking China and Europe saw steady growth in 2024. Launched in 2011, the total number of China-Europe freight train services surpassed 100,000 last year.

    One of the highlights of the year was the debut of the CR450 prototypes, the next generation of high-speed trains that are faster, greener and more comfortable than those in current operation. Once they enter commercial operation, speeds will be increased to 400 km/h from the current 350 km/h. This development underscores China’s commitment to advancing transportation technology and improving efficiency.

    China’s railway freight and passenger volumes both reached record highs last year, playing a key role in supporting socioeconomic development. According to China State Railway Group, the national railway operator, in 2024, China’s national railway handled a record 4.08 billion passenger trips, with daily traffic reaching a high of nearly 21.45 million. The network also moved 3.99 billion metric tons of cargo, marking the eighth consecutive year of growth.

    Expansion milestones

    On a crisp September morning during China’s Mid-Autumn Festival, Luo Wei and her family stood at Chengdu East Railway Station, excited but unsure. They were embarking on a last-minute trip to Jiuzhaigou, a picturesque UNESCO World Heritage Site nestled in the mountains of western Sichuan province. In the past, such a journey would have been an exhausting multi-day ordeal. The eight-hour road trip from Chengdu to Jiuzhaigou is notorious for its winding roads through the mountains and steep drop-offs below. But this time, they were about to board a new train service that would transform the experience.

    In 1 hour and 39 minutes, they reached their destination, smoothly gliding through the mountains aboard a cutting-edge bullet train. Although a two-hour bus ride linking the railway station and the scenic area still awaits, it was much better than the previous eight-hour journey from Chengdu. No more hours spent cramped in a car on winding roads. It was a glimpse into the future of transportation in China, where high-speed rail has turned what once felt like an impossible journey into a comfortable, efficient reality.

    “We thought it might be different to see Jiuzhaigou by train, especially with our 10-year-old son,” Luo said, reminiscing about the challenging, fun-filled backpacking and self-driving trips she and her husband had taken several times during their school years.

    “It (the train journey) was certainly easier, and the trip was far more comfortable — much more suitable for a family outing, especially with a child,” she said.

    “Before, a round trip to Jiuzhaigou would take at least three days. Now we can do it in just a day.”

    The 69-km newly opened railway from Zhengjiangguan to Huangshengguan links this remote yet breathtaking region to China’s extensive railway network for the first time.

    Over a century ago, Sun Yat-sen, a pioneering Chinese revolutionary leader, envisioned a modernized China in his book The International Development of China. His plan included the construction of 1.6 million km of roads and approximately 160,000 km of railways. Last year, while Sun’s vision for railways became a reality, the development of China’s high-speed rail has in all likelihood exceeded his expectations.

    Last year, more than 3,100 km of new rail was built, including 2,457 km of high-speed rail, linking key cities and regions.

    Since 2012, the total length of China’s rail network has grown by more than 65 percent, while high-speed rail has expanded over fourfold.

    Compared to 2012, when China’s total railway length was 98,000 km with 9,356 km of high-speed rail, the country’s rail infrastructure has undergone an impressive transformation.

    Li Jingwei, deputy head of the development and reform department of China State Railway Group, highlighted the accelerated pace of construction.

    “Since 2012, the expansion of China’s high-speed rail has intensified, with an average of over 3,000 km of new high-speed rail lines put into operation annually,” Li said.

    Notably, China is the only country to achieve commercial operation of high-speed rail at 350 km/h, showcasing technological prowess, he said.

    “From snowy forests in the northern part of China to the water towns in the eastern region, and from the desert to the sea, China’s high-speed rail traverses major rivers and rugged mountains, and connects all regions,” Li said.

    He added that the high-speed railway network covers more than 96 percent of cities with populations over 500,000, including the Hong Kong Special Administrative Region.

    By 2030, China aims to have built a world-class modern railway network covering about 180,000 km, including around 60,000 km of high-speed rail. This expansion will create a more efficient and interconnected transportation system, allowing passengers to travel between major cities in just one to three hours and ensuring the swift movement of cargo across the country.

    The expansion of the network has not only reduced travel times but also increased connectivity between major cities and more isolated areas, including regions with challenging terrain, where building roads is already difficult, let alone railways. This is particularly true in the rugged mountains of Sichuan and the Xizang autonomous region, where new rail lines have brought services to remote locations, boosting regional development and tourism.

    Greater access

    The improvement of China’s railway network has had a transformative effect on the tourism industry.

    Yin Wei, head of a travel agency in Jiuzhaigou, with 12 years of experience in the industry, has witnessed dramatic changes in travel patterns over the years. He said the new rail line has had an enormous impact on tourism.

    “The travel time from Chengdu to Jiuzhaigou has been greatly shortened,” he said.

    “Tourists have eagerly awaited this rail line, and we received a lot of inquiries,” he said. “In the past, our tours typically lasted five days, but now, visitors can experience it in just one or two days.”

    The agency has already started developing tailored weekend getaway packages for tourists.

    “Visitors can arrive on Friday and spend two days exploring Jiuzhaigou and Huanglong, or even come for a one-day trip to enjoy the snowy scenery in the morning and return by evening. It’s incredibly appealing to tourists,” he said.

    Yin believes the easy access will benefit not only Jiuzhaigou but also the surrounding attractions, leading to an overall increase in tourism revenue for the region.

    Ferrying freight

    While passenger services have seen dramatic improvements, China’s railway network is also revolutionizing global trade. A notable milestone was achieved on Dec 3 when freight train X8083 — carrying goods such as electronics, home appliances, auto parts and daily necessities — arrived in Duisburg, Germany, marking the 100,000th journey between China and Europe. The train, which departed from Chongqing on Nov 15, took 18 days to reach the German city.

    As a cornerstone of the Belt and Road Initiative, the China-Europe freight train has evolved into a critical link for trade and connectivity, fostering open cooperation, mutual benefit and economic integration among the countries along the route.

    In 2024, the service hit a significant benchmark with 19,000 China-Europe freight trains operated, transporting 2.07 million containers — an increase of 10 percent and 9 percent, respectively, compared to the previous year.

    Since launching in 2011, the service has transformed global trade by enhancing connectivity between China and Europe. It has maintained a strong track record for safety, stability and efficiency, making it an indispensable component of the international logistics network.

    Li Chao, deputy director of the Policy Research Office of China’s National Development and Reform Commission, said: “The China-Europe freight train service is a vital carrier of open cooperation, fostering mutual benefit and supporting the Belt and Road Initiative. It provides a new, all-weather, high-capacity, green and low-carbon transport route that has become a valuable international public good.”

    The service is notably less affected by natural environmental factors, offering higher reliability compared to other forms of transportation. With costs just one-fifth of air freight and transit times a quarter of sea transport, the freight train has become a preferred choice for many businesses. In 2023, it accounted for over 7 percent of the total trade between China and Europe.

    Over the past 13 years, the network has expanded rapidly, growing from a handful of routes into a comprehensive service covering most of the Eurasian region. Today, it connects 227 cities in 25 European countries, 100 cities in 11 Asian countries, and is continually expanding. This broadening network has significantly transformed the logistics landscape between China and Europe, offering businesses more efficient options across diverse regions.

    The range of goods transported via the China-Europe freight train is also diversifying. It now handles over 50,000 types of goods across 53 categories, including automobiles, machinery, electronics and epidemic prevention materials, according to China State Railway Group, the service’s operator.

    The rail service has benefited both Chinese and international consumers and businesses. For example, Zhejiang Mundiver Import & Export, a company engaged in trade with Spain, has seen significant improvements in its logistics operations. Since 2014, when the China-Europe freight train began operating from Yiwu, Zhejiang province, the company has been using the service to import goods from Europe.

    Kong Zhijian, the company’s marketing manager, said: “Before the rail service, we relied on sea transport, which took about 45 days and required a secondary transfer at Ningbo Port. Now, goods can be delivered directly to Yiwu from Europe in less than 20 days.”

    The faster transit time has helped streamline their business operations, particularly with products like wine. “This shorter shipping cycle helps us manage cash flow more effectively, which is crucial for our business,” Kong added.

    The impact of the rail service extends beyond China. It has also brought significant economic benefits to cities along the route. For instance, Duisburg Port has become a major logistics hub, attracting over 100 logistics companies and creating more than 20,000 jobs.

    The progress of railways has always been driven by technology and innovation. In this regard, China also made remarkable strides in 2024, with faster trains now on track.

    Next generation

    On Dec 29, China unveiled two CR450 high-speed train prototypes, which are capable of reaching a test speed of 450 km/h and an operational speed of 400 km/h. They will be the fastest high-speed trains in the world once they enter commercial service, surpassing China’s current CR400, which operates at 350 km/h.

    It was one of the most exciting developments in the railway sector in 2024. This leap in speed and comfort reflects China’s ongoing leadership in high-speed rail technology.

    The two prototypes, with their futuristic design, have reduced weight by 10 percent to improve fuel efficiency. To decrease rolling resistance, the development team wrapped the trains’ running gear — such as the wheels, axles and suspension system — partly, marking a breakthrough in railway engineering.

    The interiors of the prototypes are also cutting-edge. In business class, the seats can be adjusted to a meeting mode, allowing them to be arranged face-to-face, transforming the compartment into a conference room at any time.

    In economy class, the seats are ergonomically designed for greater comfort, with curves that better suit the body. In response to passenger smartphone use, small tables in economy class now feature a rack that enables passengers to prop up their phones to watch videos.

    Inside the train, lighting adjusts automatically in response to the brightness outside, enhancing passenger comfort. The luggage storage areas have also been made more spacious, reducing congestion. The interior has been redesigned for greater comfort and convenience, increasing cabin space by 4 percent. Adjustable luggage racks and versatile storage areas can accommodate passengers’ needs, including bicycles, wheelchairs and other large items. These upgrades anticipate potential regulatory changes in passenger transport.

    Sui Fusheng, a researcher at the Institute of Acoustics at the Chinese Academy of Sciences, highlighted the challenge of balancing weight reduction with noise control. He led a team dedicated to optimizing the noise management for the prototypes.

    “To reduce weight is detrimental to noise control, and increasing speed also exacerbates noise, so we have to overcome these two critical factors to ensure a comfortable passenger experience,” he said.

    “The results have been good; the ride experience is similar to that of the current CR400 running at 350 km/h,” he added.

    To balance noise control and weight reduction, the team developed integrated composite materials that offer both thermal insulation and soundproofing. These innovations not only reduce material costs and complexity but also enhance passenger comfort by effectively managing temperature and noise levels.

    The team’s solutions have laid the groundwork for quieter, more efficient high-speed rail travel, Sui added.

    “China’s high-speed rail system has made a historic leap, evolving from a follower to a global leader. Its high-speed rail technology has now set an international benchmark,” said Li Yongheng, an official from China State Railway Group, referring to the development of the CR450.

    “To further strengthen and expand China’s leadership in high-speed rail technology, and to better support Chinese modernization, our company, together with relevant ministries, organizations, research institutes, universities and enterprises, has formed an innovative team to tackle critical technological challenges,” he added.

    The CR450 represents the culmination of years of innovation in high-speed rail, making it a fitting symbol of China’s railway sector in 2024 — a year marked by groundbreaking achievements, record-breaking passenger and freight volumes, and a continually expanding network that links China to the rest of the world.

    Looking ahead

    These breakthroughs in railway technology are not just abstract concepts — they’re transforming the way people experience travel. On that September morning, Luo Wei and her family were not just passengers on a train — they were part of a story of transformation that is reshaping the future of travel, trade and global connectivity. The ease and efficiency of their journey to Jiuzhaigou were a microcosm of the larger changes sweeping across China.

    As China looks ahead, its railway sector remains a symbol of the country’s ambition to lead the world in technological innovation and sustainable development. With the CR450 on the horizon and a growing railway network connecting regions far and wide, China is poised to continue pushing the boundaries of what’s possible in transportation. And with it, the world will continue to move faster, more efficiently and more sustainably.

    For Luo Wei and countless others, the high-speed rail of 2024 is a journey into tomorrow — one that is already well underway.

    MIL OSI China News

  • MIL-OSI Economics: Huawei’s OptiXaccess MA5800T Smart 10G OLT Series Scores Highest Across the Board in GlobalData FTTP Competitive Landscape Assessment Feb 13, 2025

    Source: Huawei

    Headline: Huawei’s OptiXaccess MA5800T Smart 10G OLT Series Scores Highest Across the Board in GlobalData FTTP Competitive Landscape Assessment
    Feb 13, 2025

    [Shenzhen, China, February 13, 2025] GlobalData, a world-renowned consulting firm, released the 2024 Fiber to the Premise (FTTP) Competitive Landscape Assessment, which evaluates and ranks the OLT products of five top global vendors. Huawei’s OptiXaccess MA5800T smart 10G OLT series (MA5800T series) scored the highest across all five dimensions measured: density/scalability, backplane/system throughput capacity, ONT range, deployment flexibility, and customer and market traction. This placed Huawei at No.1 in overall competitiveness and highlighted its position as the leader in the FTTP field.
    Huawei 10G smart OLT leading across all dimensions in GlobalData report

    Specializing in ICT data analysis and consulting, GlobalData focuses on ICT industry research and provides evaluation reports on areas such as market research and forecast and product analyses. In its 2024 FTTP assessment, the MA5800T series has shown outstanding performance in the following five scoring dimensions defined by GlobalData:
    Density/Scalability
    An OLT should have high density and scalability. Huawei’s MA5800T series supports 8-/16-port symmetric/asymmetric triple-mode 50G PON with high-density deployment, meeting the access requirements for a large number of 10G users.
    Backplane/System Throughput Capacity
    An OLT should have sufficient capacity to support upstream and downstream links. The Huawei MA5800T series supports 1 Tbps per slot, leading the industry.
    ONT Range
    It is important for an OLT to support various ONT models during FTTP deployment. The Huawei MA5800T series supports concurrent access of GPON, 10G PON, and 50G PON ONTs, as well as being compatible with GPON and 10G PON user access on the live network, offering strong protection for customers’ live network investments.
    Deployment Flexibility
    An OLT should support the flexible deployment of different PON technologies and nodes of different scales. Huawei’s MA5800T series is compatible with GPON, 10G PON, and 50G PON technologies. Furthermore, it provides an optical power budget up to 32 dB, and enables smooth upgrades without the need to change existing ODNs, thus maximizing return on investment (ROI).
    Customer and Market Traction
    The quantity, quality, and scale of cooperation with operators were all key scoring criteria in the GlobalData FTTP report. The Huawei MA5800T series has been tested and deployed by more than 60 operators, more than any other vendor. In addition, it is the only 50G PON OLT that can currently enter commercial use.
    Huawei’s next-generation OptiXaccess MA5800T smart OLT series is the industry’s first smart OLT platform designed for the 10G era. Featuring a deterministic experience, ultra-large bandwidth, smooth upgrades, and native intelligence, it provides operators and enterprises with the solutions they need to quickly and efficiently deploy premium FTTP networks, and drives the transformation from bandwidth to experience monetization.

    MIL OSI Economics

  • MIL-OSI Economics: Huawei’s OptiXaccess MA5800T Smart 10G OLT Series Scores Highest Across the Board in GlobalData FTTP Competitive Landscape Assessment

    Source: Huawei

    Headline: Huawei’s OptiXaccess MA5800T Smart 10G OLT Series Scores Highest Across the Board in GlobalData FTTP Competitive Landscape Assessment

    [Shenzhen, China, February 13, 2025] GlobalData, a world-renowned consulting firm, released the 2024 Fiber to the Premise (FTTP) Competitive Landscape Assessment, which evaluates and ranks the OLT products of five top global vendors. Huawei’s OptiXaccess MA5800T smart 10G OLT series (MA5800T series) scored the highest across all five dimensions measured: density/scalability, backplane/system throughput capacity, ONT range, deployment flexibility, and customer and market traction. This placed Huawei at No.1 in overall competitiveness and highlighted its position as the leader in the FTTP field.
    Huawei 10G smart OLT leading across all dimensions in GlobalData report

    Specializing in ICT data analysis and consulting, GlobalData focuses on ICT industry research and provides evaluation reports on areas such as market research and forecast and product analyses. In its 2024 FTTP assessment, the MA5800T series has shown outstanding performance in the following five scoring dimensions defined by GlobalData:
    Density/Scalability
    An OLT should have high density and scalability. Huawei’s MA5800T series supports 8-/16-port symmetric/asymmetric triple-mode 50G PON with high-density deployment, meeting the access requirements for a large number of 10G users.
    Backplane/System Throughput Capacity
    An OLT should have sufficient capacity to support upstream and downstream links. The Huawei MA5800T series supports 1 Tbps per slot, leading the industry.
    ONT Range
    It is important for an OLT to support various ONT models during FTTP deployment. The Huawei MA5800T series supports concurrent access of GPON, 10G PON, and 50G PON ONTs, as well as being compatible with GPON and 10G PON user access on the live network, offering strong protection for customers’ live network investments.
    Deployment Flexibility
    An OLT should support the flexible deployment of different PON technologies and nodes of different scales. Huawei’s MA5800T series is compatible with GPON, 10G PON, and 50G PON technologies. Furthermore, it provides an optical power budget up to 32 dB, and enables smooth upgrades without the need to change existing ODNs, thus maximizing return on investment (ROI).
    Customer and Market Traction
    The quantity, quality, and scale of cooperation with operators were all key scoring criteria in the GlobalData FTTP report. The Huawei MA5800T series has been tested and deployed by more than 60 operators, more than any other vendor. In addition, it is the only 50G PON OLT that can currently enter commercial use.
    Huawei’s next-generation OptiXaccess MA5800T smart OLT series is the industry’s first smart OLT platform designed for the 10G era. Featuring a deterministic experience, ultra-large bandwidth, smooth upgrades, and native intelligence, it provides operators and enterprises with the solutions they need to quickly and efficiently deploy premium FTTP networks, and drives the transformation from bandwidth to experience monetization.

    MIL OSI Economics

  • MIL-OSI Asia-Pac: InvestHK backs supply chain drive

    Source: Hong Kong Information Services

    With the Government committed to establishing Hong Kong as a multinational supply chain management centre, Invest Hong Kong (InvestHK) believes that the city’s unique advantages can attract more businesses to establish multinational supply chain management centres here.

    Supply chain management encompasses the administration of all processes from the procurement of raw materials and the production of goods to their delivery to customers.

    “Currently and globally, all the enterprises are undergoing major transformation of diversifying their sourcing bases, diversifying their end market, so there is cause for elevating their supply chain management to a multinational level,” stated Associate Director-General of Investment Promotion Arnold Lau.

    “For companies who want to set up these supply chain management centres in Hong Kong, their physical goods do not necessarily need to go through Hong Kong.”

    As an international financial, shipping and trade hub, Hong Kong has a strong trade foundation supported by comprehensive infrastructure. Mr Lau stressed that the city’s robust financial system and deep market offer various financing options for enterprises. Additionally, its large talent pool and advantageous geographical location are also attractive to businesses seeking to establish multinational supply chain management centres.

    Sany Group, a Mainland engineering machinery company ranked among the top 500 firms on the Forbes Global 2000 list, has established a settlement platform in Hong Kong for its global import and export orders, taking full advantage of the city’s world-class financial and professional services.

    Sany Hong Kong Group Board Member and General Manager Jacky Chen reflected on the city’s advantages, saying: “Hong Kong’s advanced banking system and capital market offer enterprises diverse services, including international settlement, cross-boundary financing, and risk management. In light of exchange rate fluctuations, these advantages offered by Hong Kong are particularly dominant.”

    He added: “We chose to set up a settlement platform here for three reasons: a well-structured taxation system, relatively low financing costs, and the absence of foreign exchange controls on funds.”

    For its part, China Brilliant Group, a Mainland supply chain service provider, acquired and rented warehouses in Hong Kong a decade ago to leverage the city’s cross-boundary logistics network and geographical advantages, with a view to enhancing the group’s international trade efficiency.

    Vice President Wayne Yu stated that Hong Kong’s first-rate ports and airport, its overall transportation efficiency and its excellent logistics infrastructure combine to significantly reduce cargo shipping times and logistics costs.

    He added: “Hong Kong boasts a long-standing foundation in foreign trade, high-quality professional services, airport and other infrastructure, as well as reliable trade financing channels, making it an ideal location for establishing a multinational supply chain management centre.”

    InvestHK has 34 global offices, including five in the Mainland, offering free support services to local companies interested in establishing, or expanding, operations in Hong Kong.

    InvestHK and the Hong Kong Trade Development Council are stepping up collaborative efforts to help businesses make the most of Hong Kong as a platform. InvestHK is striving to attract more Mainland enterprises to establish international or regional headquarters in Hong Kong and provides one-stop, diversified professional advisory services to assist them in doing so.

    Complementing these efforts, the Hong Kong Trade Development Council assists such firms to go global, partly through organising exhibitions and trade fairs.

    MIL OSI Asia Pacific News