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Category: China

  • MIL-OSI: DT Cloud Acquisition Corporation Announces Entering into a Business Combination Agreement with Maius Pharmaceutical

    Source: GlobeNewswire (MIL-OSI)

    New York, New York, Oct. 23, 2024 (GLOBE NEWSWIRE) — DT Cloud Acquisition Corporation (Nasdaq: DYCQU, DYCQ, DYCQR) (“DT Cloud” or the “SPAC”), a publicly-traded special purpose acquisition company, and Maius Pharmaceutical Co., Ltd. (“Maius” or the “Company”), a biopharmaceutical R&D company, announced that they had entered into a definitive business combination agreement (the “Business Combination Agreement”) for the merger transactions (the “Business Combination,” and the transactions in connection with the Business Combination collectively, the “Transaction”). As contemplated in the Business Combination Agreement, upon closing of the Transaction, Maius will become a wholly-owned subsidiary of Maius Pharmaceutical Group Co., Ltd., a newly formed holding company (“Pubco”), the securities of which will be listed on The Nasdaq Stock Market LLC (“Nasdaq”).

    Maius is a biopharmaceutical R&D company focusing on innovative formulations and targeted small-molecule chemical drugs. The Company focuses on developing new drugs in three major areas: anticancer drugs, autoimmune medication and anti-infectives. Its core products include small-molecule chemical drug candidates and peptide drug candidates. It has independently established an integrated drug development platform, combining a chemical drug screening system with a drug delivery system.

    Transaction Overview

    Upon consummation of the Business Combination, the outstanding shares of DT Cloud and Maius will be converted into the ordinary shares of Pubco. The Business Combination Agreement provides for an equity value of $250 million for Maius at the time of the closing of the Business Combination.

    The Transaction has been unanimously approved by the boards of directors of both DT Cloud and Maius and is expected to be consummated in the first half of 2025, subject to regulatory approvals, the approvals by the shareholders of DT Cloud and Maius, respectively, and the satisfaction of certain other customary closing conditions, including, among others, a registration statement (the “Registration Statement”), of which the proxy statement/prospectus forms a part, being declared effective by the U.S. Securities and Exchange Commission (the “SEC”), and the approval by Nasdaq of the listing application of Pubco. Upon the closing of the Business Combination, Pubco, the combined company, is expected to operate under the name of “Maius Pharmaceutical Group Co., Ltd.” and with a new trading symbol.

    The description of the Business Combination contained herein is only a summary and is qualified in its entirety by reference to the Business Combination Agreement. A more detailed description of the transaction terms and a copy of the definitive Business Combination Agreement will be included in a Current Report on Form 8-K to be filed by DT Cloud with the SEC and will be available on the SEC’s website at www.sec.gov.

    Advisors

    Wilson Sonsini Goodrich & Rosati, Professional Corporation, Ogier (Cayman) LLP and Han Kun Law Offices are serving as legal counsel to DT Cloud. Sichenzia Ross Ference Carmel LLP, Appleby (Cayman) Ltd. and Beijing Yingke Law Firm Shenzhen Office are serving as legal counsel to Maius.

    About Maius

    Maius is a biopharmaceutical R&D company focusing on the research and development of innovative formulations and targeted small-molecule chemical drug candidates. The Company focuses on developing new drugs in three major areas: anticancer drugs, autoimmune medication and anti-infectives. Its core products under development include small-molecule chemical drugs and peptide drugs. It has independently established an integrated drug development platform, combining a chemical drug screening system with a drug delivery system. 

    About DT Cloud Acquisition Corporation

    DT Cloud is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses. While DT Cloud may pursue an initial business combination target in any business or industry, it intends to focus its search on industries that complement its management team’s background. DT Cloud is led by Shaoke Li, its Chief Executive Officer, and Guojian Chen, its Chief Financial Officer.

    Forward-looking Statements

    This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release, including statements as to future results of operations and financial position, planned products and services, business strategy and plans, objectives of management for future operations of the Company, market size and growth opportunities, competitive position and technological and market trends, estimated implied pro forma enterprise value of the combined company following the Mergers (the “Combined Company”), the cash position of the Combined Company following the closing of the Transaction, SPAC and the Company’s ability to consummate the Transaction, and expectations related to the terms and timing of the Transaction, as applicable, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “anticipate,” “expect,” “suggests,” “plan,” “believe,” “predict,” “potential,” “seek,” “future,” “propose,” “continue,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such terminology. All forward-looking statements are based upon current estimates and forecasts and reflect the views, assumptions, expectations, and opinions of SPAC and the Company as of the date of this press release, and are therefore subject to a number of factors, risks and uncertainties, some of which are not currently known to SPAC or the Company and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement; (2) the outcome of any legal proceedings that may be instituted against SPAC, the Company or others following the announcement of the Transaction, the Business Combination Agreement and other ancillary documents with respect thereto; (3) the amount of redemption requests made by SPAC public shareholders and the inability to complete the Transaction due to the failure to obtain approval of the shareholders of SPAC, to obtain financing to complete the business combination or to satisfy other conditions to closing and; (4) changes to the proposed structure of the Mergers that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Mergers; (5) the ability to meet stock exchange listing standards following the consummation of the Transaction; (6) the risk that the Transaction disrupts current plans and operations of the Company as a result of the announcement and consummation of the Transaction; (7) the ability to recognize the anticipated benefits of the Transaction, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the business combination; (9) risks associated with changes in applicable laws or regulations and the Company’s international operations; (10) the possibility that the Company or the Combined Company may be adversely affected by other economic, business, and/or competitive factors; (11) the Company’s estimates of expenses and profitability; (12) the Company’s mission, goals and strategies; (13) the Company’s future business development, financial condition and results of operations; (14) expected growth of the global digital trading and investing services industry; (15) expected changes in the Company’s revenues, costs or expenditures; (16) the Company’s expectations regarding demand for and market acceptance of its products and service; (17) the Company’s expectations regarding its relationships with users, customers and third-party business partners; (18) competition in the Company’s industry; (19) relevant government policies and regulations relating to the Company’s industry; (20) general economic and business conditions globally and in jurisdictions where the Company operates; and (21) assumptions underlying or related to any of the foregoing. The foregoing list of factors is not exhaustive. You should carefully consider the risks and uncertainties described in the “Risk Factors” section in the annual report on Form 10-K for the year ended December 31, 2023 of SPAC, and the “Risk Factors” section of the Registration Statement relating to the Transaction which is expected to be filed with the SEC, and other documents filed from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. There may be additional risks that neither SPAC nor the Company presently know or that SPAC or the Company currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of these factors, risks and uncertainties, the forward-looking events and circumstances discussed in this press release may not occur, and any estimates, assumptions, expectations, forecasts, views or opinions set forth in this press release should be regarded as preliminary and for illustrative purposes only and accordingly, undue reliance should not be placed upon the forward-looking statements. SPAC and the Company assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

    Additional Information and Where to Find It

    In connection with the Transaction, SPAC and the Company intend to cause the Registration Statement to be filed with the SEC, which will include a proxy statement to be distributed to SPAC’s shareholders in connection with its solicitation for proxies for the vote by SPAC’s shareholders in connection with the Transaction. You are urged to read the proxy statement/prospectus and any other relevant documents filed with the SEC when they become available because, among other things, they will contain updates to the financial, industry and other information herein as well as important information about SPAC, the Company and the Transaction. Shareholders of SPAC will be able to obtain a free copy of the proxy statement when filed, as well as other filings containing information about SPAC, the Company and the Transaction, without charge, at the SEC’s website located at www.sec.gov. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination.

    INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

    Participants in the Solicitation

    SPAC, the Company and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from SPAC’s shareholders in connection with the Transaction. You can find information about SPAC’s directors and executive officers and their interest in SPAC can be found in its Annual Report on Form10-K for the fiscal year ended December 31, 2023, which was filed with the SEC on March 28, 2024. A list of the names of the directors, executive officers, other members of management and employees of SPAC and the Company, as well as information regarding their interests in the Transaction, will be contained in the Registration Statement to be filed with the SEC by the Company. Additional information regarding the interests of such potential participants in the solicitation process may also be included in other relevant documents when they are filed with the SEC. You may obtain free copies of these documents from the sources indicated above.

    No Offer or Solicitation

    This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Transaction and does not constitute an offer to sell or the solicitation of an offer to buy any securities of SPAC, the Company or the Combined Company, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.

    Contact:

    For investors:

    DT Cloud Acquisition Corporation
    Shaoke Li
    Chief Executive Officer
    30 Orange Street
    London
    United Kingdom, WC2H 7HF
    Email: jack.li@dtcloudspac.com

    Maius Pharmaceutical Co., Ltd.
    Mingfeng Shi
    Chief Executive Officer
    Room 913, Building 1, No. 515 Huanke Road, Pudong New District, Shanghai, China
    Email: maius@maiuspharma.com

    The MIL Network –

  • MIL-OSI USA: ICYMI—Hagerty Joins Mornings With Maria on Fox Business to Discuss BRICS Summit, Biden-Harris Emboldening China, Stablecoin Bill

    US Senate News:

    Source: United States Senator for Tennessee Bill Hagerty
    NEW YORK CITY—United States Senator Bill Hagerty (R-TN), a member of the Senate Banking and Foreign Relations Committees and former U.S. Ambassador to Japan, yesterday joined Mornings With Maria on Fox Business to discuss yesterday’s BRICS Summit, the Biden-Harris Administration’s weakness towards China, and his stablecoin legislation to establish a clear regulatory framework for the regulation and supervision of stablecoin issuers.

    *Click the photo above or here to watch*
    Partial Transcript
     Hagerty on the BRICS Summit: “Were it not for the tremendous leadership void that exists today because of America’s exit from the international stage, we wouldn’t be seeing this happen. And under President [Donald] Trump, this would have never happened. They’ve expanded BRICS now to 32 nations, as you’ve said. This is all about Vladimir Putin trying to find a way to get around the type of sanctions regime that we will come back and put in place once President Trump is back in office. Interestingly, I noticed that the UN Secretary General Gutierrez is going to be there in Russia for this event. You know, were this event held anywhere else, Gutierrez, I think, would be obligated to enforce the arrest warrant that his own international criminal court has put out for Putin. It’s just shocking to me that these nations would step up and participate in this, and that Gutierrez himself would be involved in a situation where Iran is actually going to be brought into this group. It’s amazing. The only common bond, it seems, is that America’s not part of it, and they want to demonstrate their pushback. And the fact that the UN is engaged in this as well [is] really quite shocking and disturbing to me as it should be to all of us.”
    Hagerty on China’s economic leverage against BRICS nations: “You mentioned China; that is another common bond here: China’s economic ties and leverage over these countries with the Belt and Road Initiative and the fact that they’re buying oil from Iran and from Russia. That is another common bond that these guys share. But if you think about how the Harris Administration would respond, look no further than what they did with the spy balloon that they allowed to fly over the entirety of the United States of America. And then send four cabinet members over to kowtow, just to beg them to come to San Francisco for a meeting, I’m very concerned. Americans should be deeply concerned what would happen and should Kamala Harris be put in a position to stand up to Xi. I’ve been with President Trump when he’s met with Xi. Xi respects Trump. President Trump will bring respect and order back to these types of relationships. I cannot imagine how Kamala Harris would stand up to that type of pressure.”
    Hagerty on Obama’s former AG suing the Pentagon on behalf of a Chinse company: “This is exactly why President Trump has said we must drain the swamp. This is just another example of the revolving door. And the fact is that the first time this DJI was cited was back in 2017 when President Trump was in office—the Army took them down then—there’s no way that Loretta Lynch would be bringing the suit under the Trump Administration. But again, they’re trying to squeeze everything in that they can in the last days, the waning days of this Administration. You’ve got to ask yourself: who are they working for? Because every one of the foreign policies that Biden and Harris have pursued basically make China the net winner. We’ve got to stop this […] Ever since 2018, that’s been the case, because that’s what the Chinese National Security law says. Chinese companies that collect data anywhere in the world need to and have to expose that data to the Chinese intelligence services when asked. So, of course, that’s what it means. That’s the vulnerability that was seen back in the Trump Administration; that seems to be something that Loretta Lynch wants to undo and make these Chinese companies have access to the most sensitive data that our U.S. military would pick up. It’s unconscionable that she’d do this […] Barack Obama’s top law enforcement officer, the former Attorney General, is the one defending this Chinese company trying to get them off of this list, when she knows the exposure [and] the national security risk that would pose to America. It is just shocking.”
    Hagerty on his stablecoin legislation to establish clear regulatory framework: “As you mentioned, this builds upon some excellent work that was done in the House of Representatives. I’ve come in and made some adjustments that I think it’ll make it easier to get through both bodies [in Congress]. The impact of this, though, actually gets back to the beginning of the story that you and I talked about. You think about the efforts that Vladimir Putin and these BRICS nations undertaking to get around the United States as the reserve currency of the world. This will actually strengthen our posture as a reserve currency. It will increase demand, not only for U.S. treasuries, but also the stablecoins will increase demand for U.S. dollars on a global basis. We need the proper regulatory framework in place here in America—we need legal certainty—the Biden and Harris Administration have done everything they can to destroy that sort of legal certainty. This will begin to chip away at the Democrats’ war on cryptocurrency and put us back in the driver’s seat when it comes to maintaining the reserve currency status that the dollar has enjoyed and should continue to enjoy […] The assumption is very clear that this legislation will move through and be ripe for a new Administration.”

    MIL OSI USA News –

  • MIL-OSI: Bel Reports Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Sales and Gross Margin Percentage Above Mid-Point of Expected Ranges
    Provides Q4-24 Sales and Gross Margin Guidance

    WEST ORANGE, N.J., Oct. 23, 2024 (GLOBE NEWSWIRE) — Bel Fuse Inc. (Nasdaq: BELFA and BELFB) today announced preliminary financial results for the third quarter of 2024.

    Third Quarter 2024 Highlights

    • Net sales of $123.6 million compared to $158.7 million in Q3-23
    • Gross profit margin of 36.1%, up from 35.0% in Q3-23
    • Net earnings of $8.1 million versus $19.4 million in Q3-23
    • Adjusted EBITDA of $20.6 million (16.7% of sales) as compared to $29.9 million (18.8% of sales) in Q3-23
    • Repurchased 26,647 shares of Bel stock at an aggregate cost of $1.9 million in Q3-24

    “We were pleased that our third quarter results landed above the midpoint of guidance for both sales and gross margin,” said Daniel Bernstein, President and CEO. “Each of our three product segments performed as expected, given the current market, regulatory and seasonal factors outlined in last quarter’s disclosures and on the Q2 earnings call.

    “During the third quarter, the team focused on a variety of operational and other internal initiatives. With our announcement of the signing our definitive purchase agreement in September, we welcomed Enercon to the Bel family and are positioned to introduce new customers, end markets and geographies to our Power segment upon the closing expected later this quarter. In a project scheduled to be completed during the first quarter of 2025, our fuse manufacturing, located in China, will be consolidated into other existing Bel facilities thus reducing our footprint further. The fuse initiative is anticipated to achieve annual cost savings of approximately $1.5 million once completed. We are also pleased to announce the addition of two senior associates in newly-created positions to Bel’s corporate team. Uma Pengali has joined as Global Head of Sales and Marketing and Anubhav Gothi has joined as Bel’s Global Head of Contracts. We believe Uma and Anubhav will be instrumental contributors to Bel’s long-term success,” concluded Mr. Bernstein.

    Farouq Tuweiq, CFO, added, “We have started to see positive trends in bookings during the months of September and October across each of our product segments, which is a positive indicator as we enter 2025. These green shoots are largely in our networking and industrial markets, and in the distribution channel. Looking to the fourth quarter of 2024, we expect GAAP net sales in the range of $117 to $125 million with gross margins of approximately 34 – 36%, based on information available as of today. This guidance excludes any potential incremental contribution related to the previously-announced acquisition of Enercon, which is expected to close during the fourth quarter.

    “Overall, we are encouraged by the sequential improvement in market conditions that we are seeing and believe this will bode well for 2025. We are excited to continue our journey of growth and continuous improvement with our new team members,” concluded Mr. Tuweiq.

    Non-GAAP financial measures, such as Non-GAAP net earnings, Non-GAAP EPS, EBITDA and Adjusted EBITDA, adjust corresponding GAAP measures for provision for income taxes, interest expense, and depreciation and amortization, and also exclude, where applicable for the covered period presented in the financial statements, certain unusual or special items identified by management such as restructuring charges, gains/losses on sales of businesses and properties, acquisition related costs, and certain litigation costs. Non-GAAP adjusted net sales exclude expedite fee revenue. Please refer to the financial information included with this press release for reconciliations of GAAP financial measures to Non-GAAP financial measures and our explanation of why we present Non-GAAP financial measures.

    Conference Call
    Bel has scheduled a conference call for 8:30 a.m. ET on Thursday, October 24, 2024 to discuss these results. To participate in the conference call, investors should dial 877-407-0784, or 201-689-8560 if dialing internationally. The presentation will additionally be broadcast live over the Internet and will be available at https://ir.belfuse.com/events-and-presentations. The webcast will be available via replay for a period of at least 30 days at this same Internet address. For those unable to access the live call, a telephone replay will be available at 844-512-2921, or 412-317-6671 if dialing internationally, using access code 13749258 after 12:30 pm ET, also for 30 days.

    About Bel
    Bel (www.belfuse.com) designs, manufactures and markets a broad array of products that power, protect and connect electronic circuits. These products are primarily used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation and eMobility industries. Bel’s portfolio of products also finds application in the automotive, medical, broadcasting and consumer electronics markets. Bel’s product groups include Magnetic Solutions (integrated connector modules, power transformers, power inductors and discrete components), Power Solutions and Protection (front-end, board-mount and industrial power products, module products and circuit protection), and Connectivity Solutions (expanded beam fiber optic, copper-based, RF and RJ connectors and cable assemblies). The Company operates facilities around the world.

    Company Contact:
    Farouq Tuweiq  
    Chief Financial Officer  
    ir@belf.com

    Investor Contact:
    Three Part Advisors
    Jean Marie Young, Managing Director or Steven Hooser, Partner
    631-418-4339
    jyoung@threepa.com; shooser@threepa.com

    Cautionary Language Concerning Forward-Looking Statements
    This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, our guidance for the fourth quarter of 2024, and our statements regarding our expectations for future periods generally including anticipated financial performance, projections and trends for the remainder of the year and other future periods including 2025, and our statements regarding future events, performance, plans, intentions, beliefs, expectations and estimates, including statements regarding matters such as trends and expectations as to our sales, gross margin, products, product segments, customers, end markets, geographies and bookings, statements regarding our views and expectations about the impact of market trends and seasonal factors, statements about the closing of the Enercon Technologies, Ltd. (“Enercon”) acquisition including the anticipated timing thereof, and statements about the anticipated benefits and impact of the Enercon acquisition including in terms of introducing new customers, end markets and geographies to our Power segment, as well as any potential incremental contribution by Enercon post-closing to Bel’s financial results, statements regarding consolidation projects and initiatives, the expected timing of implementation and completion thereof, and the anticipated projections of cost savings to be realized thereby, statements about future contributions of new employees and the role of newly-created positions in the corporate team in contributing to Bel’s long-term success, statements regarding our expectations and beliefs regarding trends in the Company’s business and industry and the markets in which Bel operates, and about the broader economy and macroeconomic environment generally, including statements about trends in bookings and views about indicators of economic conditions including as to particular sectors or markets, improvement in market conditions, and statements about Bel’s growth and improvement, and other statements regarding the Company’s positioning, its strategies, future progress, investments, plans, targets, goals, and other focuses and initiatives, and the expected timing and potential benefits thereof. These forward-looking statements are made as of the date of this release and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “forecast,” “outlook,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Bel’s control. Bel’s actual results could differ materially from those stated or implied in our forward-looking statements (including without limitation any of Bel’s projections) due to a number of factors, including but not limited to, unanticipated difficulties, delays or expenditures relating to the proposed Enercon acquisition, including, without limitation, difficulties that result in the failure to realize the expected benefits and synergies within the expected time period (if at all); disruptions of Bel’s or Enercon’s current plans, operations and relationships with customers, suppliers, distributors, business partners and regulators caused by the announcement and pendency of the proposed Enercon acquisition; potential difficulties in employee retention due to the announcement and pendency of the proposed Enercon acquisition; the possibility that the proposed Enercon acquisition does not close, including, but not limited to, failure to satisfy the closing conditions; the market concerns facing our customers, and risks for the Company’s business in the event of the loss of certain substantial customers; the continuing viability of sectors that rely on our products; the effects of business and economic conditions, and challenges impacting the macroeconomic environment generally and/or our industry in particular; the effects of rising input costs, and cost changes generally, including the potential impact of inflationary pressures; difficulties associated with integrating previously acquired companies, and any difficulties that may be experienced in integrating Enercon following the closing of the Enercon acquisition; capacity and supply constraints or difficulties, including supply chain constraints or other challenges; the impact of public health crises (such as the governmental, social and economic effects of COVID or other future epidemics or pandemics); difficulties associated with the availability of labor, and the risks of any labor unrest or labor shortages; risks associated with our international operations, including our substantial manufacturing operations in China, and following the acquisition of Enercon, risks associated with operations in Israel, which may be adversely affected by political or economic instability, major hostilities or acts of terrorism in the region; risks associated with restructuring programs or other strategic initiatives, including any difficulties in implementation or realization of the expected benefits or cost savings; product development, commercialization or technological difficulties; the regulatory and trade environment including the potential effects of trade restrictions that may impact Bel, its customers and/or its suppliers; risks associated with fluctuations in foreign currency exchange rates and interest rates; uncertainties associated with legal proceedings; the market’s acceptance of the Company’s new products and competitive responses to those new products; the impact of changes to U.S. and applicable foreign legal and regulatory requirements, including tax laws, trade and tariff policies; and the risks detailed in Bel’s most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and in subsequent reports filed by Bel with the Securities and Exchange Commission, as well as other documents that may be filed by Bel from time to time with the Securities and Exchange Commission. In light of the risks and uncertainties impacting our business, there can be no assurance that any forward-looking statement will in fact prove to be correct. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent Bel’s views as of the date of this press release. Bel anticipates that subsequent events and developments will cause its views to change. Bel undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Bel’s views as of any date subsequent to the date of this press release.

    Non-GAAP Financial Measures
    The Non-GAAP financial measures identified in this press release as well as in the supplementary information to this press release (Non-GAAP adjusted net sales, Non-GAAP net earnings, Non-GAAP EPS, EBITDA and Adjusted EBITDA) are not measures of performance under accounting principles generally accepted in the United States of America (“GAAP”). These measures should not be considered a substitute for, and the reader should also consider, income from operations, net earnings, earnings per share and other measures of performance as defined by GAAP as indicators of our performance or profitability. Our non-GAAP measures may not be comparable to other similarly-titled captions of other companies due to differences in the method of calculation. We present results adjusted to exclude the effects of certain unusual or special items and their related tax impact that would otherwise be included under U.S. GAAP, to aid in comparisons with other periods. We believe that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. We use these non-GAAP measures to compare the Company’s performance to that of prior periods for trend analysis and for budgeting and planning purposes. We also believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other similarly situated companies in our industry, many of which present similar non-GAAP financial measures to investors. We also use non-GAAP measures in determining incentive compensation. For additional information about our use of non-GAAP financial measures in connection with our Incentive Compensation Program for 2023, please see the Executive Compensation discussion appearing in our Definitive Proxy Statement filed with the Securities and Exchange Commission on April 1, 2024.

    Website Information
    We routinely post important information for investors on our website, www.belfuse.com, in the “Investor Relations” section. We use our website as a means of disclosing material, otherwise non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investor Relations section of our website, in addition to following our press releases, Securities and Exchange Commission (SEC) filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

    [Financial tables follow]

               
               
    Bel Fuse Inc.
    Supplementary Information(1)
    Condensed Consolidated Statements of Operations
    (in thousands, except per share amounts)
    (unaudited)
               
      Three Months Ended     Nine Months Ended  
      September 30,     September 30,  
      2024     2023     2024     2023  
                                   
    Net sales $ 123,638     $ 158,682     $ 384,933     $ 499,803  
    Cost of sales   78,961       103,217       238,782       335,137  
    Gross profit   44,677       55,465       146,151       164,666  
    As a % of net sales   36.1 %     35.0 %     38.0 %     32.9 %
                                   
    Research and development costs   5,443       5,292       16,652       16,521  
    Selling, general and administrative expenses   26,700       23,717       75,785       74,149  
    As a % of net sales   21.6 %     14.9 %     19.7 %     14.8 %
    Restructuring charges   1,087       2,091       1,790       6,306  
    Gain on sale of property   –       (147 )     –       (3,819 )
    Income from operations   11,447       24,512       51,924       71,509  
    As a % of net sales   9.3 %     15.4 %     13.5 %     14.3 %
                                   
    Gain on sale of Czech Republic business   –       (135 )     –       980  
    Interest expense   (414 )     (512 )     (1,263 )     (2,402 )
    Interest income   1,480       –       3,741       –  
    Other income/expense, net   (1,325 )     (96 )     21       (286 )
    Earnings before income taxes   11,188       23,769       54,423       69,801  
                                   
    Provision for income taxes   3,108       4,321       11,663       8,006  
    Effective tax rate   27.8 %     18.2 %     21.4 %     11.5 %
    Net earnings $ 8,080     $ 19,448     $ 42,760     $ 61,795  
    As a % of net sales   6.5 %     12.3 %     11.1 %     12.4 %
                                   
    Weighted average number of shares outstanding:                              
    Class A common shares – basic and diluted   2,116       2,142       2,126       2,142  
    Class B common shares – basic and diluted   10,434       10,636       10,512       10,636  
                                   
    Net earnings per common share:                              
    Class A common shares – basic and diluted $ 0.61     $ 1.46     $ 3.23     $ 4.63  
    Class B common shares – basic and diluted $ 0.65     $ 1.54     $ 3.41     $ 4.88  
     
    (1) The supplementary information included in this press release for 2024 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.
     
    Bel Fuse Inc.
    Supplementary Information(1)
    Condensed Consolidated Balance Sheets
    (in thousands, unaudited)
     
      September 30, 2024     December 31, 2023  
    Assets              
    Current assets:              
    Cash and cash equivalents $ 134,266     $ 89,371  
    Held to maturity U.S. Treasury securities   29,541       37,548  
    Accounts receivable, net   75,998       84,129  
    Inventories   124,885       136,540  
    Other current assets   22,959       33,890  
    Total current assets   387,649       381,478  
    Property, plant and equipment, net   36,735       36,533  
    Right-of-use assets   22,901       20,481  
    Related-party note receivable   3,070       2,152  
    Equity method investment   10,014       10,282  
    Goodwill and other intangible assets, net   72,772       76,033  
    Other assets   51,276       44,672  
    Total assets $ 584,417     $ 571,631  
                   
    Liabilities and Stockholders’ Equity              
    Current liabilities:              
    Accounts payable $ 37,139     $ 40,441  
    Operating lease liability, current   6,451       6,350  
    Other current liabilities   53,297       63,818  
    Total current liabilities   96,887       110,609  
    Long-term debt   60,000       60,000  
    Operating lease liability, long-term   16,808       14,212  
    Other liabilities   43,360       46,252  
    Total liabilities   217,055       231,073  
    Stockholders’ equity   367,362       340,558  
    Total liabilities and stockholders’ equity $ 584,417     $ 571,631  
     
    (1) The supplementary information included in this press release for 2024 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.
     
    Bel Fuse Inc.
    Supplementary Information(1)
    Condensed Consolidated Statements of Cash Flows
    (in thousands, unaudited)
         
      Nine Months Ended  
      September 30,  
      2024     2023  
                   
    Cash flows from operating activities:              
    Net earnings $ 42,760     $ 61,795  
    Adjustments to reconcile net earnings to net cash provided by operating activities:              
    Depreciation and amortization   10,759       9,962  
    Stock-based compensation   2,782       2,712  
    Amortization of deferred financing costs   27       33  
    Deferred income taxes   (5,366 )     (4,894 )
    Net unrealized losses on foreign currency revaluation   1,275       130  
    Gain on sale of property   –       (3,819 )
    Gain on sale of Czech Republic business   –       (980 )
    Other, net   628       (495 )
    Changes in operating assets and liabilities:              
    Accounts receivable, net   8,366       11,931  
    Unbilled receivables   7,482       1,590  
    Inventories   12,266       29,313  
    Accounts payable   (3,302 )     (18,674 )
    Accrued expenses   (11,849 )     4,536  
    Accrued restructuring costs   (590 )     (148 )
    Income taxes payable   4,809       2,008  
    Other operating assets/liabilities, net   (4,327 )     (13,575 )
    Net cash provided by operating activities   65,720       81,425  
                   
    Cash flows from investing activities:              
    Purchases of property, plant and equipment   (7,906 )     (9,659 )
    Purchases of held to maturity U.S. Treasury securities   (131,309 )     –  
    Proceeds from held to maturity securities   139,316       –  
    Payment for equity method investment   –       (9,975 )
    Investment in related party notes receivable   (918 )     (1,905 )
    Proceeds from sale of property, plant and equipment   236       5,403  
    Proceeds from sale of business   –       5,063  
    Net cash used in investing activities   (581 )     (11,073 )
                   
    Cash flows from financing activities:              
    Dividends paid to common stockholders   (2,487 )     (2,490 )
    Deferred financing costs   (330 )     –  
    Repayments under revolving credit line   –       (40,000 )
    Borrowings under revolving credit line   –       5,000  
    Purchases of common stock   (16,053 )     –  
    Net cash used in financing activities   (18,870 )     (37,490 )
                   
    Effect of exchange rate changes on cash and cash equivalents   (1,374 )     (2,903 )
                   
    Net increase in cash and cash equivalents   44,895       29,959  
    Cash and cash equivalents – beginning of period   89,371       70,266  
    Cash and cash equivalents – end of period $ 134,266     $ 100,225  
                   
                   
    Supplementary information:              
    Cash paid during the period for:              
    Income taxes, net of refunds received $ 15,556     $ 18,148  
    Interest payments $ 3,010     $ 3,738  
    ROU assets obtained in exchange for lease obligations $ 4,711     $ 5,887  
     
    (1) The supplementary information included in this press release for 2024 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.
     
    Bel Fuse Inc.
    Supplementary Information(1)
    Product Group Highlights
    (dollars in thousands, unaudited)
     
      Sales     Gross Margin  
      Q3-24     Q3-23     % Change     Q3-24     Q3-23     Basis Point Change  
    Power Solutions and Protection $ 48,680     $ 74,862       -35.0 %     39.4 %     41.7 %     (230 )
    Connectivity Solutions   55,715       51,771       7.6 %     36.6 %     35.8 %     80  
    Magnetic Solutions   19,243       32,049       -40.0 %     27.3 %     22.0 %     530  
    Total $ 123,638     $ 158,682       -22.1 %     36.1 %     35.0 %     110  
      Sales     Gross Margin  
      YTD September 2024     YTD September 2023     % Change     YTD September 2024     YTD September 2023     Basis Point Change  
    Power Solutions and Protection $ 167,478       245,134       -31.7 %     43.2 %     37.5 %     570  
    Connectivity Solutions   167,822       160,010       4.9 %     37.3 %     35.8 %     150  
    Magnetic Solutions   49,633       94,659       -47.6 %     23.9 %     23.0 %     90  
    Total $ 384,933     $ 499,803       -23.0 %     38.0 %     32.9 %     510  
     
    (1) The supplementary information included in this press release for 2024 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.
     
    Bel Fuse Inc.
    Supplementary Information(1)
    Reconciliation of GAAP Net Sales to Non-GAAP Adjusted Net Sales(2)
    Reconciliation of GAAP Net Earnings to EBITDA and Adjusted EBITDA(2)
    (in thousands, unaudited)
               
      Three Months Ended     Nine Months Ended  
      September 30,     September 30,  
      2024     2023     2024     2023  
                                   
    GAAP net sales $ 123,638     $ 158,682     $ 384,933     $ 499,803  
    Expedite fee revenue   –       1,008       57       14,425  
    Non-GAAP adjusted net sales $ 123,638     $ 157,674     $ 384,876     $ 485,378  
      Three Months Ended     Nine Months Ended  
      September 30,     September 30,  
      2024     2023     2024     2023  
                                   
    GAAP Net earnings $ 8,080     $ 19,448     $ 42,760     $ 61,795  
    Interest expense   414       512       1,263       2,402  
    Provision for income taxes   3,108       4,321       11,663       8,006  
    Depreciation and amortization   3,636       3,391       10,759       9,962  
    EBITDA $ 15,238     $ 27,672     $ 66,445     $ 82,165  
    % of net sales   12.3 %     17.4 %     17.3 %     16.4 %
                                   
    Unusual or special items:                              
    Restructuring charges   1,087       2,091       1,790       6,306  
    MPS litigation costs   –       132       –       2,903  
    Gain on sale of Czech Republic business   –       135       –       (980 )
    Gain on sale of properties   –       (147 )     –       (3,819 )
    Acquisition related costs   4,292       –       4,292       –  
    Adjusted EBITDA $ 20,617     $ 29,883     $ 72,527     $ 86,575  
    % of net sales   16.7 %     18.8 %     18.8 %     17.3 %
     
    (1) The supplementary information included in this press release for 2024 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.
    (2) In this press release and supplemental information, we have included Non-GAAP financial measures, including Non-GAAP adjusted net sales, Non-GAAP net earnings, Non-GAAP EPS, EBITDA and Adjusted EBITDA. We present results adjusted to exclude the effects of certain specified items and their related tax impact that would otherwise be included under GAAP, to aid in comparisons with other periods. We believe that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. We use these non-GAAP measures to compare the Company’s performance to that of prior periods for trend analysis and for budgeting and planning purposes. We also believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other similarly situated companies in our industry, many of which present similar non-GAAP financial measures to investors. We also use non-GAAP measures in determining incentive compensation. See the section above captioned “Non-GAAP Financial Measures” for additional information.
     
    Bel Fuse Inc.
    Supplementary Information(1)
    Reconciliation of GAAP Measures to Non-GAAP Measures(2)
    (in thousands, except per share data) (unaudited)
     
    The following tables detail the impact that certain unusual or special items had on the Company’s net earnings per common Class A and Class B basic and diluted shares (“EPS”) and the line items in which these items were included on the consolidated statements of operations.
     
        Three Months Ended September 30, 2024     Three Months Ended September 30, 2023  
    Reconciling Items   Earnings before taxes     Provision for income taxes     Net earnings     Class A EPS(3)     Class B EPS(3)     Earnings before taxes     Provision for income taxes     Net earnings     Class A EPS(3)     Class B EPS(3)  
                                                                                     
    GAAP measures   $ 11,188     $ 3,108     $ 8,080     $ 0.61     $ 0.65     $ 23,769     $ 4,321     $ 19,448     $ 1.46     $ 1.54  
    Restructuring charges     1,087       154       933       0.07       0.07       2,091       407       1,684       0.13       0.13  
    MPS litigation costs     –       –       –       –       –       132       30       102       0.01       0.01  
    Gain on sale of Czech Republic business     –       –       –       –       –       135       7       128       0.01       0.01  
    Gain on sale of properties     –       –       –       –       –       (147 )     (29 )     (118 )     (0.01 )     (0.01 )
    Acquisition related costs     4,292       987       3,305       0.25       0.27       –       –       –       –       –  
    Non-GAAP measures   $ 16,567     $ 4,249     $ 12,318     $ 0.94     $ 0.99     $ 25,980     $ 4,736     $ 21,244     $ 1.59     $ 1.68  
        Nine Months Ended September 30, 2024     Nine Months Ended September 30, 2023  
    Reconciling Items   Earnings before taxes     Provision for income taxes     Net earnings     Class A EPS(3)     Class B EPS(3)     Earnings before taxes     Provision for income taxes     Net earnings     Class A EPS(3)     Class B EPS(3)  
                                                                                     
    GAAP measures   $ 54,423     $ 11,663     $ 42,760     $ 3.23     $ 3.41     $ 69,801     $ 8,006     $ 61,795     $ 4.63     $ 4.88  
    Restructuring charges     1,790       317       1,473       0.11       0.12       6,306       1,007       5,299       0.40       0.42  
    MPS litigation costs     –       –       –       –       –       2,903       667       2,236       0.17       0.18  
    Gain on sale of Czech Republic business     –       –       –       –       –       (980 )     (49 )     (931 )     (0.07 )     (0.07 )
    Gain on sale of properties     –       –       –       –       –       (3,819 )     (763 )     (3,056 )     (0.23 )     (0.24 )
    Acquisition related costs     4,292       987       3,305       0.25       0.26       –       –       –       –       –  
    Non-GAAP measures   $ 60,505     $ 12,967     $ 47,538     $ 3.59     $ 3.80     $ 74,211     $ 8,868     $ 65,343     $ 4.89     $ 5.16  
     
    (1) The supplementary information included in this press release for 2024 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.
    (2) In this press release and supplemental information, we have included Non-GAAP financial measures, including Non-GAAP adjusted net sales, Non-GAAP net earnings, Non-GAAP EPS, EBITDA and Adjusted EBITDA. We present results adjusted to exclude the effects of certain specified items and their related tax impact that would otherwise be included under GAAP, to aid in comparisons with other periods. We believe that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. We use these non-GAAP measures to compare the Company’s performance to that of prior periods for trend analysis and for budgeting and planning purposes. We also believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other similarly situated companies in our industry, many of which present similar non-GAAP financial measures to investors. We also use non-GAAP measures in determining incentive compensation. See the section above captioned “Non-GAAP Financial Measures” for additional information.
    (3) Individual amounts of earnings per share may not agree to the total due to rounding.
     

    The MIL Network –

  • MIL-OSI: NCS Multistage Holdings, Inc. Schedules Third Quarter 2024 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Oct. 23, 2024 (GLOBE NEWSWIRE) — NCS Multistage Holdings, Inc. (“NCS” or the “Company”) (NASDAQ:NCSM) will host a conference call to discuss its third quarter 2024 results on Thursday, October 31, 2024 at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). NCS will issue its third quarter 2024 earnings release the evening prior to the conference call.

    The conference call will be available via a live audio webcast. Participants who wish to ask questions may register for the call here to receive the dial-in numbers and unique PIN. If you wish to join the conference call but do not plan to ask questions, you may join the listen-only webcast here. It is recommended that participants join at least 10 minutes prior to the event start. The replay will be available in the Investors section of the Company’s website shortly after the conclusion of the call and will remain available for approximately seven days.

    NCS Multistage Holdings, Inc. is a leading provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completions and field development strategies. NCS provides products and services primarily to exploration and production companies for use in onshore and offshore wells, predominantly wells that have been drilled with horizontal laterals in both unconventional and conventional oil and natural gas formations. NCS’s products and services are utilized in oil and natural gas basins throughout North America and in selected international markets, including the North Sea, the Middle East, Argentina and China. NCS’s common stock is traded on the Nasdaq Capital Market under the symbol “NCSM.” Additional information is available on the website, www.ncsmultistage.com.

    Contact:
    Mike Morrison
    Chief Financial Officer and Treasurer
    +1 281-453-2222
    IR@ncsmultistage.com

    The MIL Network –

  • MIL-OSI China: China embraces world’s largest annual human migration

    Source: China State Council Information Office 2

    This year’s Spring Festival travel rush is poised to set new records for travel numbers, marked by several notable changes, according to China’s transport authorities.
    The world’s busiest travel season, driven by the Chinese ritual of family reunions, kicked off on Jan. 14 this year. China is anticipating a record-breaking 9 billion inter-regional trips during this year’s Spring Festival travel rush, with significant shifts, noted Wang Xiuchun, an official with the Ministry of Transport, who joined the latest episode of the China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.
    Participants in the 40-day travel season not only include those traveling for family visits, but also a growing number of leisure tourists, Wang said. Additionally, the rise of self drive trips and the expansion of travel modes have changed the transportation mix, Wang added.
    Air travel has become an increasingly popular choice during the Spring Festival season, driven by rising demand for higher living standards, according to Shang Kejia, an official with the Civil Aviation Administration of China.
    The number of flights and passengers are expected to reach new highs this year, Shang said. Daily flights are projected to exceed 18,500, an 8.4 percent increase compared to last year, with passenger trips surpassing 90 million.
    Additionally, the diversity of air travel routes has expanded, spurred by new demands, including the rise of “reverse Spring Festival travel,” in which people travel against the flow of typical holiday movement, and the growing tourism boom, Shang explained.
    Shang noted that more international tourists are flocking to China, marking a new highlight in this year’s Spring Festival travel rush.
    The vast railway network, the backbone of China’s transport system in handling with Spring Festival travel rush, has further improved its coverage and capacity, according to Zhu Wenzhong with the China State Railway Group.
    This year, more than 14,000 trains will be on the move each day, with over 10 million seats offered, representing an almost one-third increase in capacity compared to five years ago, Zhu said.
    When highlighting new trends for this year’s travel season, Zhu noted that passenger flow toward the northeastern region is increasing, partly driven by the thriving ice and snow economy and the upcoming Asian Winter Games, which will be held in northeast China’s Heilongjiang Province. 

    MIL OSI China News –

  • MIL-OSI China: New ‘Boonie Bears’ film takes fans to the future for Chinese New Year

    Source: China State Council Information Office 3

    “Boonie Bears,” an enduring animated franchise featuring the titular sibling bears, is set to return to the domestic film market next week with its 11th installment, “Boonie Bears: Future Reborn.”

    The creative team poses for a photo with the audience at the premiere of “Boonie Bears: Future Reborn” in Beijing on Jan. 22, 2025. [Photo courtesy of Fantawild Animation]

    The new film carries forward the franchise’s recent venture into sci-fi storytelling, exploring themes of time travel and dystopia. The story centers on Vick the logger, alongside Xiao Liang, a teenager thrust from the future into an unexpected adventure. Joined by the lovable bears Briar and Bramble, they find themselves a century in the future, where Earth is overrun by monstrous mutant spore plants. Together, they must find and defeat the villain threatening the plaet’s safety.

    Opening on Jan. 29, the first day of the Chinese New Year, this film serves as the finale for the franchise’s sci-fi subseries, which includes five installments. “We have explored themes of artificial intelligence, aerospace, and multiverse timelines. The decision to choose an apocalyptic theme for this new installment reflects our perspective on reality,” said Shang Linlin, the film’s chief producer and executive president of Fantawild Animation, during the premiere in Beijing on Jan. 22.

    Shang continued: “In recent years, many people have likely felt a sense of powerlessness and confusion, feeling as if we, as individuals, are insignificant. Despite this, I believe we all yearn for hope and light. By setting this story 100 years in the future during a time of disaster, we show that even in the face of great difficulties, hope endures. With the arrival of the Chinese New Year, we hope the film will bring joy and warmth to everyone and inspire us to embrace a beautiful life in the new year, encouraging us to forge an even better future.”

    Shang added that these sci-fi titles are designed to spark imagination and creativity in both children and adults, encouraging innovation and paving the way for the future.”

    Director Lin Yongchang explained that in an effort to transcend the usual monotonous and bleak depictions of dystopia, the creative team crafted a vivid and colorful world for the film, emphasizing their goal to make it a joyful experience for families. In portraying Vick the logger, they aim to showcase the character’s growth, demonstrating how an ordinary person can overcome difficulties and confront challenges.

    “He represents everyone around us, which aligns perfectly with our storyline, especially when he asks, ‘Can I be brave again?’” Lin said. “I hope his change of heart and newfound bravery can inspire courage and hope in those facing hardships.”

    Shang also underscored the film’s focus on environmental issues, highlighting the urgent message it conveys. “We are witnessing increasingly frequent extreme weather and an alarming rise in global temperatures. The Antarctic glaciers are melting. If we continue to ignore these signs, we cannot guarantee what the world will look like in 100 years. Every decision we make today, whether good or bad, will impact future generations,” she said.

    Lin further noted the incorporation of Chinese cultural elements throughout the film, emphasizing the importance of familial bonds. “Our ‘Boonie Bears’ films carry the responsibility of telling great Chinese stories and showcasing our culture to the world,” he said. The new installment will also be released internationally, although specific dates have not yet been announced.

    A poster for “Boonie Bears: Future Reborn.” [Image courtesy of Fantawild Animation]

    In just over a decade, the ambitious film franchise launched in 2013 has grown from a budding concept into a major player, shifting from child-focused animal animation to action-packed family entertainment.

    The first 10 theatrical releases have collectively grossed over 7.7 billion yuan ($1.06 billion), with last year’s “Boonie Bears: Time Twist” earning a remarkable 1.98 billion yuan, making it the highest-grossing installment to date. The franchise also includes 19 animated series, spanning about 2,000 episodes, which have been exported to more than 130 countries and broadcast on over 300 TV networks and platforms in multiple languages.

    MIL OSI China News –

  • MIL-OSI China: Mainland confirms Taiwan inspection tour applications by tourism operators in Fujian, Shanghai

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

    Mainland confirms Taiwan inspection tour applications by tourism operators in Fujian, Shanghai

    BEIJING, Jan. 24 — A Chinese mainland spokesperson on Friday confirmed that tourism operators in eastern Fujian Province and Shanghai Municipality had submitted applications to Taiwan authorities for inspection tours of the island.

    Chen Binhua, spokesperson for the Taiwan Affairs Office of the State Council, said in response to a media query that tourism industries on both sides of the Taiwan Strait had shown high enthusiasm for restoring cross-Strait tourist trips, adding that tourism operators of the two sides have been actively coordinating with each other.

    On Jan. 17, the Ministry of Culture and Tourism announced that the Chinese mainland would soon resume group tour services to Taiwan for residents of Fujian and Shanghai.

    “We hope that the tourism operators’ inspection trips to Taiwan will be successful, thereby laying a good foundation for the upcoming resumption of group tours by Fujian and Shanghai residents to the island,” the spokesperson said.

    MIL OSI China News –

  • MIL-OSI China: Chinese Foreign Ministry holds 2025 New Year reception

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

    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, hosts the Chinese Foreign Ministry’s 2025 New Year reception at the Beijing Performing Arts Center in Beijing, capital of China, Jan. 24, 2025. [Photo/Xinhua]

    BEIJING, Jan. 24 — Foreign Minister Wang Yi hosted the Chinese Foreign Ministry’s 2024 New Year reception at the Beijing Performing Arts Center on Friday.

    The event was attended by Yin Li, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and secretary of the CPC Beijing Municipal Committee, along with diplomatic envoys from various countries, representatives of international organizations in China, and representatives of Chinese government departments. Around 400 people attended the event in total.

    Wang, also a member of the Political Bureau of the CPC Central Committee, said that China’s foreign service has held high the banner of building a community with a shared future for mankind, strived for peace, and fulfilled its responsibility for development. China’s diplomatic efforts have brought more stability and positive energy to a turbulent world, he added.

    Wang noted that in the past year, diplomatic envoys and representatives of international organizations have visited different parts of China to build bridges of friendship between the peoples, and devoted and contributed their strength to the friendship and cooperation between China and the countries they represent.

    China will work with all countries to bear in mind the well-being of the entire world and rise above estrangement and conflict. “Together, let us promote friendship and cooperation, enhance mutual learning among different cultures, and build a community with a shared future for mankind,” he said.

    Martin Mpana, dean of the foreign diplomatic corps in China and Cameroon’s ambassador to China, sent best wishes to the Chinese people for a happy New Year on behalf of the diplomatic corps. He said that China’s diplomacy demonstrates its responsibility as a major country and makes important contributions to addressing the growing uncertainties and challenges in the world. Countries around the world are willing to deepen friendship, intensify exchanges and strengthen cooperation with China to build a community with a shared future for mankind, he said.

    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, hosts the Chinese Foreign Ministry’s 2025 New Year reception at the Beijing Performing Arts Center in Beijing, capital of China, Jan. 24, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: China renews yellow alerts for cold wave, heavy fog

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

    BEIJING, Jan. 25 — China’s meteorological authority renewed a yellow alert for a cold wave on Saturday, as most parts of the country will see temperatures plunge by 8-12 degrees Celsius over the next three days.

    During the period, some areas in the eastern part of northwest China, as well as western sections of north China and Sichuan plateau are expected to experience declines of over 14 degrees Celsius, said the National Meteorological Center (NMC).

    The NMC has advised the public to keep warm, and called for necessary measures to protect crops and aquatic products.

    The center also renewed a yellow alert for heavy fog, warning that visibility in some areas including the Qiongzhou Strait, the coastal waters of the Leizhou Peninsula and Guangxi will be reduced to less than 1 kilometer, and in some instances, even below 500 meters from Saturday morning to evening.

    Drivers have been asked to maintain safe speeds, while airports, freeways and ports have been instructed to take appropriate safety measures.

    China has a four-tier color-coded warning system for severe weather, with red being the most serious, followed by orange, yellow and blue.

    MIL OSI China News –

  • MIL-OSI USA: “America’s Best Deserves the Best” – Senator Hassan Outlines Risk Pete Hegseth Poses to U.S. National Security in Senate Floor Speech

    US Senate News:

    Source: United States Senator for New Hampshire Maggie Hassan
    WASHINGTON – In a speech on the Senate floor, U.S. Senator Maggie Hassan (D-NH) today outlined how Pete Hegseth’s lack of qualifications to serve as Secretary of Defense would put U.S. national security, and our men and women in uniform, at risk.
    Some key quotes from the Senator’s remarks include:
    “Unfortunately, it is clear that Mr. Hegseth does not have the skills, experience, record, or character to lead a department that has a budget of more than $800 billion, and is the largest employer of men and women in our country, and is tasked with safeguarding our nation’s security and freedom.”
    “If Mr. Hegseth could not and did not effectively manage organizations with around 100 employees, surely no one can actually believe that he is ready to manage one of 3.4 million people.”
    “In the past, when we have looked for leaders of our armed forces, we have searched for our country’s best and brightest; the most gifted minds of America’s boardrooms, the brightest stars to come out of West Point, the most revered public servants to serve in these halls… we did not need then, nor do we need now to turn to the green rooms of cable TV networks for the Secretary of Defense.”
    “Surely the armed forces of the United States of America…the victors of the Ardennes, of Gettysburg, and Midway and a thousand places in between and since…surely, they need a leader who they can have full faith in; surely America’s best deserves the best.”
    “There are strong, experienced, and able members of the President’s party whose views align with his who could be exceptional leaders of the Department of Defense. Mr. Hegseth is not one of them.”
    Click here to see Senator Hassan’s remarks, or see a transcript below:
    Mister President, I rise right now and today for the purpose of joining my colleagues from both sides of the aisle in opposing Mr. Hegseth’s nomination as Secretary of Defense. I appreciate Mr. Hegseth’s military service, indeed when evaluating his nomination, his service was what I appreciated most about his background.
    But unfortunately, it is clear that Mr. Hegseth does not have the skills, experience, record, or character to lead a department that has a budget of more than $800 billion, and is the largest employer of men and women in our country, and is tasked with safeguarding our nation’s security and freedom.
    We take pride as Americans in the fact that our military is the very best. The standard of excellence and professionalism set by the men and women of our armed forces is central to our military’s success and our country’s success.
    This high standard of competency and character, of both unmatched ability and uncommon virtue, is why America’s armed forces command the respect of our friends, the fear of our foes, and the abiding faith of freedom-loving people everywhere.
    America boasts the greatest fighting force in the history of the world…the heroes who serve in our armed forces deserve a leader who is worthy of that greatness. And Mr. Hegseth is plainly not up to that task.
    Like many of my colleagues, I have concerns regarding Mr. Hegseth’s character – the documented accusations about his excessive and uncontrolled drinking, his sexual harassment, sexual assault, and now, accusations of being abusive to his ex-wife.
    It is ironic that Mr. Hegseth and some of my colleagues have dismissed these concerns as partisan, because sadly if this wasn’t a partisan confirmation process – for example, if my Republican colleagues were considering hiring Mr. Hegseth to join their staffs – we would all agree that these accusations would immediately be disqualifying.
    Mr. Hegseth dismisses these multiple accusations from disparate people as “a coordinated smear campaign.” I don’t think that the concerns of his former colleagues, friends, and family should be quickly dismissed as smears. And many other of the nominees who are being considered by this body aren’t facing similar accusations even though there are people who vehemently oppose their confirmation. Which begs the question of why Mr. Hegseth continues to face multiple, similar accusations from different sources. But for a moment, let’s do as Mr. Hegseth asks and put aside these accusations.
    Let us say for a moment that those who occupy the highest positions in public life shouldn’t be above reproach, though indeed they should;
    Let us say that our service members do not deserve a leader whose strength of character matches their own, though I believe they do;
    And let us say for a moment that character does not count, though indeed it surely always does.
    Let us, in short, ignore everything that Mr. Hegseth demanded we ignore in his hearing. Even if we did that, I would submit that based on experience alone, Mr. Hegseth is plainly unqualified for the job as Secretary of Defense.
    The Secretary of Defense is responsible for a budget of more than $800 billion and responsible for 3.4 million employees who serve on every continent across the globe. To lead the Defense Department is a daunting task that requires leadership and managerial skills of the highest order.
    However, Mr. Hegseth’s managerial experience begins and ends with his leadership at two small nonprofits. And his tenure at both resulted in concerns about his financial mismanagement at their helm. If Mr. Hegseth could not and did not effectively manage organizations with around 100 employees, surely no one can actually believe that he is ready to manage one of 3.4 million people. 
    We live in a dangerous and uncertain world. Iran and its proxies continue to menace our forces in the Middle East. Vladimir Putin is on the march in Europe. North Korea persists in testing our allies and testing its missiles. And China…China looks with a conqueror’s gaze toward Taiwan.
    To my Republican colleagues, I understand that you wish to support President Trump. But Presidents are sometimes wrong. We are talking about our nation’s vital security. We are considering the confirmation of the person who will be entrusted to marshal our resources as the enemy approaches, attacks our cyber defenses, or invades an ally.
    It matters. It matters that we have the right person in this job. It matters that we get this one right. Surely there is someone in this great country of brilliant and brave people of all political stripes who is more capable; who has the experience and character necessary to forge under pressure the judgement that will keep us safe and free.
    This is America, we have the finest fighting force ever assembled, we have more strength and power than any fighting force has had in human history.
    And in the past, when we have looked for leaders of our armed forces, we have searched for our country’s best and brightest; the most gifted minds of America’s boardrooms, the brightest stars to come out of West Point, the most revered public servants to serve in these halls… we did not need then, nor do we need now to turn to the green rooms of cable TV networks for the Secretary of Defense.
    Tomorrow marks the 80th anniversary of the [end of the] Battle of the Bulge, a campaign in which my father served. In freezing temperatures, outnumbered and often undersupplied, our forces held the line against Hitler’s onslaught. Our soldiers won because they were brave, they won because they were skilled, and they won because they were well led.
    Surely the armed forces of the United States of America…the victors of the Ardennes, of Gettysburg, and Midway and a thousand places in between and since…surely, they need a leader who they can have full faith in; surely America’s best deserves the best.
    Government’s most important task is to keep America safe, secure, and free. It is a complex, fast moving, and evolving challenge. It is a job that at times presents its occupant, the Secretary of Defense, no good or easy options. It is, in short, a deadly serious job where both success and failure have enormous ramifications. It’s a job that depends on experience and character – the prerequisites for good judgement – like no other.
    No Senator should vote for someone who they can only hope will learn on the job. Not for the Secretary of Defense. No Senator should vote for a nominee on the hope that he will display more personal discipline once he gets the job.
    There are strong, experienced, and able members of the President’s party whose views align with his who could be exceptional leaders of the Department of Defense. Mr. Hegseth is not one of them. I urge my colleagues to reject this nominee, and I yield the floor.

    MIL OSI USA News –

  • MIL-OSI China: China, US should find right way to get along in new era: Wang Yi

    Source: China State Council Information Office 3

    China and the United States should find the right way to get along in the new era, Chinese Foreign Minister Wang Yi said in a phone conversation with U.S. Secretary of State Marco Rubio held at the latter’s request on Friday.

    Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said Chinese President Xi Jinping held an important phone call with U.S. President Donald Trump last Friday and reached a series of consensus. The development of the China-U.S. relations have ushered in a new important node, Wang said.

    Xi comprehensively expounded China’s policy to the United States, and Trump responded positively, expressing his expectation to maintain good relations with Xi and emphasizing that U.S.-China cooperation can solve many problems in the world, Wang said.

    The two heads of state have pointed out the direction and set the tone for China-U.S. relations, said Wang.

    The teams of both sides should follow through on the important consensus reached by the two heads of state, maintain communication, control differences, expand cooperation based on the principles of mutual respect, peaceful coexistence and win-win cooperation, promote the stable, healthy and sustainable development of China-U.S. relations, and find the right way for China and the United States to get along in the new era, he said.

    Wang said that the Communist Party of China’s leadership is the choice of the Chinese people. China’s development has a clear historical logic and a strong innate driving force, he said, adding China’s goal is to deliver a better life to the people and make greater contributions to the world.

    China has no intention to overtake or replace any country, but must safeguard its legitimate rights to development, he said.

    Elaborating on China’s principle and position on the Taiwan question, Wang asked the United States to handle it with caution.

    Taiwan has been an integral part of China’s territory since ancient times, Wang said, stressing that China will never allow Taiwan to be separated from the motherland.

    Wang noted that the United States made solemn commitments to the one-China policy in the three China-U.S. joint communiques and should not go back on its word.

    For his part, Rubio said that the United States and China are two great nations. The U.S.-China relations are the most important bilateral relationship of the 21st century and will shape the future of the world, he said.

    The United States is willing to engage in candid communication with China, resolve differences properly, manage bilateral relations in a mature and cautious way, jointly address global challenges and maintain world peace and stability, he said.

    Rubio said the United States does not support “Taiwan independence” and hopes the Taiwan question can be resolved by peaceful means which are acceptable to both sides of the Taiwan Strait.

    Wang said major countries should act like major countries and should take on their due international responsibilities, safeguard world peace and help all countries achieve common development.

    Wang expressed his hope that Rubio would make the right decisions and play a constructive role for the future of the Chinese and the American people, as well as for global peace and stability.

    MIL OSI China News –

  • MIL-OSI China: Cold wave expected to sweep across much of country

    Source: China State Council Information Office 2

    The National Meteorological Center issued yellow alerts, the third severest in the four-tier warning system, for both a cold wave and snowstorms across much of China, days before the Spring Festival holiday.
    The cold wave is expected to cause temperatures to plummet by between 8 C and 14 C across large parts of the country from Friday to Monday, and unseasonably low temperatures are likely to shift as far south as northern Yunnan province by Chinese New Year’s Eve, which falls on Tuesday, the center said.
    Meanwhile, heavy snow is forecast in parts of Northwest China and portions of Hubei province from Friday to Saturday, with some areas in Shaanxi province and Henan province to see snowstorms with depths reaching up to 2.2 centimeters. Snow accumulation in some regions is expected to total 3-8 cm, posing risks for transportation and infrastructure, it added.
    Zhang Xiaoling, an official at the center, said that during the Spring Festival holiday from Tuesday to Feb 4 northwestern and northern regions in the country are expected to experience below-average temperatures, and in parts of North China, temperatures will drop below — 16 C on Chinese New Year’s Eve.
    Snowfall is forecast for Northeast China on Tuesday and Wednesday. Widespread rain and snow events will affect some northwestern and southern regions from Jan 31 to Feb 2, bringing light to moderate precipitation, including rain and snow, Zhang said at a news conference on Friday.
    She added that sunny to partly cloudy skies will be seen across most of central and southern China on Chinese New Year’s Eve and New Year’s Day, but another cold front will sweep through eastern and southern regions from Feb 1 to 3.
    In February, the center predicts colder-than-normal temperatures in parts of Northwest and Southwest China, and the Xinjiang Uygur autonomous region, while northeastern and northern areas will be warmer than average.
    Precipitation in eastern China will be largely below normal next month, particularly in areas including Zhejiang and Fujian provinces where rainfall is anticipated to be 50 to 80 percent less than average.
    Jia Xiaolong, deputy head of the National Climate Center, said that from mid-December to Thursday, cumulative precipitation in eastern, central and southern China was more than 80 percent below the average for the same period.
    “The unusually low precipitation has led to the development of drought-like conditions in southern regions,” Jia said, adding that moderate to severe drought conditions currently affect most areas of southern parts of China.
    Meanwhile, except for areas such as the Inner Mongolia autonomous region, Xinjiang and Heilongjiang province, many parts of North China recorded no snowfall so far this month as of Thursday, he said.
    Measures to mitigate the impact of persistent drought are encouraged, including fire prevention and agricultural support.
    As the holiday approaches, authorities are urging the public to prepare for the cold wave, heavy snowfalls and travel disruptions. Enhanced safety measures are being recommended for transportation, heating and outdoor activities to ensure a safe and warm Spring Festival.

    MIL OSI China News –

  • MIL-OSI China: Discovery to unravel mystery of early universe

    Source: China State Council Information Office 2

    Scientists have revealed new insights into the distant X-ray universe, with the Einstein Probe satellite offering fresh perspectives on the distant explosions in the cosmos.
    The research results of its discovery of a mysterious blast of X-rays in March — less than three months after EP was launched in January last year — was published on international academic journal Nature Astronomy on Thursday.
    The discovery could require us to change the way we explain the extraordinary explosions known as gamma-ray bursts, said Liu Yuan, co-first author of the paper and a scientist from National Astronomical Observatories, Chinese Academy of Sciences.
    The burst of low-energy X-rays EP’s Wide-field X-ray Telescope detected in March lasted for more than 17 minutes, and fluctuated in brightness before fading away again. Such an event is known as a fast X-ray transient, or FXRT, and this particular transient was designated as EP240315a.
    “EP240315a was the first time astronomers had detected soft X-rays for such a long duration from such an ancient explosion,” Liu said. “It was really good to see the WXT onboard trigger algorithm working fine for this event.”
    About one hour after the X-rays were seen, a telescope situated in South Africa as part of the Asteroid Terrestrial-Impact Last Alert System detected visible light from the same location.
    Follow-up observations from the Gemini-North telescope on Hawaii Island and the Very Large Telescope in Chile returned redshift measurements that confirmed that the burst had come from around 12.5 billion light-years away, beginning its cosmic journey to us when the universe was just 10 percent its current age.
    “The detection of EP240315a demonstrates Einstein Probe’s great potential for discovering transients from the early universe. The mission will play an important role in international observations and collaborations,” said Wu Xuefeng, one of the paper’s authors and a researcher at the Purple Mountain Observatory of the CAS in Nanjing, Jiangsu province.
    In later analyses, the X-rays were found to be coincident with a gamma-ray burst.
    These results show that a substantial fraction of FXRTs may be associated with gamma-ray burst, and that sensitive X-ray monitors such as EP can pinpoint them in the distant universe, said Roberto Ricci, a research fellow from University of Rome Tor Vergata in Italy.
    Combining the power of X-ray and radio observations hands researchers a new way to explore these ancient explosions even without detecting their gamma rays, he said.

    MIL OSI China News –

  • MIL-OSI China: Cross-border trips to see uptick in Spring Festival

    Source: China State Council Information Office 2

    Foreign tourists enter China at an immigration inspection station at Beijing Daxing International Airport in Beijing on Jan 2. [Photo by Li Xin/Xinhua)

    China will see an average of 1.85 million cross-border trips every day during the upcoming Spring Festival holiday, a 9.5 percent year-on-year increase, the National Immigration Administration has estimated.
    A slight increase will likely occur in cross-border trips through large international airports in China during the holiday, the administration said at a statement issued on Friday.
    These airports are expected to see a peak in the number of passengers making outbound trips for three days from Tuesday, the first day of the holiday, to Thursday, the administration said.
    They will also likely see an influx of passengers on Feb 3 and Feb 4, the last two days of the Spring Festival holiday.
    Forecasts for the average daily number of passengers making cross-border trips during the holiday from four major airports in Beijing, Shanghai, Guangzhou in Guangdong province and Chengdu in Sichuan province were revealed by the administration. Shanghai Pudong International Airport will likely see as many as 95,000 such passengers on average every day, it said in the statement.
    The administration added that it has required ports across the country to strengthen monitoring of cross-border travel flows during the holiday and issue related information promptly to help people arrange their trips properly.
    It has also asked ports to deploy a sufficient number of staff and open enough passages to improve the efficiency of exit-entry procedures, saying that the ports should ensure Chinese travelers have to wait no more than 30 minutes in line before passing through.
    LY.com, a travel agency based in Suzhou, Jiangsu province, said the eight-day Spring Festival holiday and the slight drop in the prices of international flight tickets compared with the same period last year have encouraged outbound travel.
    Trip.com Group, another travel agency, said in a report released earlier this month that Japan, Thailand and Malaysia were among the popular countries for outbound travel during the Spring Festival.
    Su Menghui, an intern at an internet company in Shanghai, said she will make an 11-day trip to Japan starting during the Spring Festival holiday. She will visit Wakayama and Hokkaido.
    The 23-year-old said she had planned the trip about three months in advance, as longer holidays — such as National Day and Spring Festival — are her first choice for traveling abroad, though flight tickets tend to be much more expensive than usual.
    She said she will also consider traveling to nearby countries, such as Japan and South Korea, during weekends. For example, a weekend is “totally sufficient” for a trip from Shanghai to Jeju Island in South Korea, she added.

    MIL OSI China News –

  • MIL-OSI China: Consumers to play bigger role in spurring growth

    Source: China State Council Information Office

    China’s consumption, powered by a more proactive fiscal policy and a moderately loose monetary policy, will bring out greater vitality and play a bigger role in spurring overall economic growth this year, said officials and executives.

    Consumer goods trade-in initiatives will serve a strong catalyst in boosting market sentiment and fueling consumer spending in the world’s second-largest economy, in the face of escalating trade barriers and the tepid appetite in the property market, they added.

    China has put scaling up domestic demand high on its policy agenda this year, with expanding consumption a top priority. Policymakers have fleshed out a set of specific measures to this end, Vice-Minister of Commerce Sheng Qiuping said at a news conference.

    “Governmental stimulus is key to elevating consumer sentiment, and this significant support will be instrumental in upgrading consumption and driving high-quality development,” said Jean-Paul Agon, chairman of L’Oreal Group.

    In particular, the country’s trade-in initiatives, which have contributed to a more than 1 percentage point increase in the annual growth of the country’s total retail sales last year, will cover a wider range of consumer goods and offer more attractive incentives this year, Sheng said.

    China is likely to double the funding for its consumer goods trade-in initiatives this year, reaching 300 billion yuan ($41.4 billion), said Wang Qing, chief macroeconomic analyst at Golden Credit Rating International.

    This move is forecast to lead to an additional 750 billion yuan in consumption in 2025, equivalent to a 1.5 percentage point acceleration in the growth rate of total retail sales of consumer goods, Wang added.

    As of Thursday, the government has received 34,000 applications for car trade-ins so far this year, while 844,000 consumers have purchased more than 1 million home appliances under the initiative, data from the ministry showed.

    Notably, some 7.92 million consumers have already applied for 10.79 million digital devices, since the trade-in program in this newly added category began on Monday, according to the ministry.

    These consumption-boosting initiatives are off to a good start, as they align with the growing consumer desire for technological innovation, improved efficiency and enhanced aesthetics, Wang said.

    In China’s rapidly evolving consumer market, marked by a constant stream of new products and technologies, the key to success is not just the sheer volume of offerings, but rather the level of personalization, sophistication and relevance that companies can bring to the table, said Victor Leal Negre, senior vice-president of Greater China Grooming at Procter & Gamble.

    “Each year, we feel the evolving consumption demands of Chinese consumers, which translates into our product innovations, allowing us to serve consumers more effectively,” Negre said.

    Looking ahead to this year, China will continue to expand high-level opening-up, particularly in the services sector, which will further strengthen its role in stabilizing growth, employment and household incomes, Zhu said.

    Meanwhile, the government can offer more policy support to help localities purchase existing housing stock for affordable and rental housing purposes, which will also address the financing difficulties faced by real estate developers, Zhu added.

    With the gradual stabilization of the real estate market and the deepening implementation of government policies to stimulate consumption, consumer confidence is expected to rebound substantially in the next 12 to 18 months, global management consultancy McKinsey & Company said in a report in October.

    MIL OSI China News –

  • MIL-OSI USA: ICYMI: Grassley Joins Playbook Deep Dive Podcast

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley

    WASHINGTON – Sen. Chuck Grassley (R-Iowa), Chairman of the Senate Judiciary Committee, this week joined Eugene Daniels on POLITICO’s Playbook Deep Dive podcast to discuss immigration policy, reconciliation, presidential pardon authority and the importance of bipartisanship.

    Audio and excerpts of the interview follow.

    On Kash Patel and President Trump’s nominees:

    “I did meet with Kash [Patel] in my office… I want somebody that’s going to help me do my constitutional responsibility of oversight… that’s my job, and I do a lot of oversight. I want Kash Patel to get me the answers to these questions and provide me the documents I need.

    “Whether it’s RFK or the CIA Director… I think there’s a lot of things in this town that need to be shaken up… they’re coming in to deliver on the mandate of this election, which is that people are fed up with the way Washington’s going. You’ve been in this town long enough to know that it’s an island surrounded by reality. The common sense that we have in the Midwest – we need more of it in Washington, D.C. and I think the [nominees] are going to bring it in, and Kash is one of them.”

    On immigration policy, the Laken Riley Act and deportations:

    “Talking about comprehensive immigration [policies], what makes it so difficult to do that is, you’ve got people on the right, maybe 10 to 15 Republicans that say, ‘I’m not going to vote for anything unless you get all 20 million people out of this country.’ And then you have people on the left that say, ‘I’m not going to vote for any immigration bill that doesn’t make everybody citizens yesterday.’ It’s tough to put together.

    “The last time you could get 65 or 70 votes for a comprehensive immigration bill was 2013… but I think it’s difficult to be any Republican or Democrat and say that we shouldn’t change laws that allow people with a criminal record to come into this country, and not only with a criminal record, committing a crime by coming here against our law, but then committing a murder.”

    “First of all, [deportations will focus on] people that are on the terrorist watch list, people that have a criminal record and the 1.5 million people who have been adjudicated that they’re not entitled to asylum… I think we’ve got to see how successful that is before we move to the people that maybe the only crime they committed was entering our country illegally.”

    On reconciliation:

    “The House has a view [that] we should have one reconciliation bill. The Senate has a view [that] there should be two reconciliation bills. A President helping us maneuver through that disagreement is very important, and Trump’s a good person to do that.”

    On presidential pardons:

    “I think it’s wrong the way [pardons] have been used recently… But I think the Constitution would have to be amended to change it, and I think it’s very clear that what Biden did, even if I disagree, or Clinton, what he did, or maybe some future president… I think they got the power to do it.

    “Biden’s pardoned people like Fauci, that’s never been accused of anything. Some president could say, you know, we’ve got 340 million people in this country, I’m going to pardon them all. That doesn’t make sense… It’s a way of protecting people, but it’s an abuse of their authority.”

    On the importance of bipartisanship:

    “[Partisanship] is a major problem now, more so than it’s been in the 45 years since I’ve been in the Senate, but it’s not as bad as what my constituents see… I think that people get the impression that Republicans don’t talk to Democrats, and that’s not true. There’s not a single Republican or Democrat that I dislike in the United States Senate. I don’t think any of them dislike me, and if they do, I don’t want to know who they are. 

    “You can’t get anything done in the United States Senate if it’s not bipartisan, except for reconciliation, and so the institution drives some of that [bipartisanship]… I believe that when people are talking, things get done. It’s when you don’t talk that things don’t get done.”

    On Grassley’s personal priorities:

    “Peace around the world. I thought after we broke up the Soviet Union, that would bring in a whole new world, and it did for a while. But there’s a lot of leaders that want more, and you wonder, why? Why does China want Taiwan? Why does Putin want Ukraine? Why does he want to reestablish the Soviet Union? That’s my concern.

    “I think there’s got to be something bigger than just yourself, or bigger than 340 million Americans. There’s got to be some certainty to life. It can’t be as simple as, ‘question authority.’ It can’t be as simple as, ‘just do it.’ There’s got to be a measure that you measure yourself against, and I think that’s a being beyond humanity. I call it God. For me, it’s following Jesus Christ.”

    -30-

    MIL OSI USA News –

  • MIL-OSI China: Xi extends Spring Festival greetings to all Chinese during inspection tour

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

    Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, talks with local people while visiting a food market in Shenyang, capital city of northeast China’s Liaoning Province, Jan. 23, 2025. [Photo/Xinhua]

    SHENYANG, Jan. 24 — President Xi Jinping has extended Spring Festival greetings to Chinese people of all ethnic groups, compatriots in Hong Kong, Macao and Taiwan, as well as overseas Chinese during an inspection trip to the northeastern province of Liaoning from Wednesday to Friday.

    Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, wished all Chinese people happiness and health, and the country peace and prosperity in the upcoming Year of the Snake.

    The Chinese New Year, or the Spring Festival, falls on Jan. 29 this year. It is the most important holiday on the Chinese calendar and an occasion for family reunions.

    For more than a decade, Xi, as the Party and the state’s top leader, has made it a tradition to spend time with ordinary people, especially those in difficulties, during the holiday season.

    On Wednesday afternoon, Xi made his first stop at Zhujiagou Village, administered by the city of Huludao. Having suffered severe flooding in August last year, the village launched post-disaster reconstruction and 41 affected households moved into new residences before the start of winter.

    At the entrance to the village, Xi looked at the affected areas, asking in detail about the summer flooding and the relocation of villagers at that time, as well as the subsequent relief work. He urged local officials to ensure the villagers stay warm throughout the winter.

    During visits to two village households, the president inspected the structural integrity of their homes, checked their preparations for holiday celebrations, and asked whether government subsidies for rebuilding had been adequately provided. He also inquired about the villagers’ main sources of income.

    Noting that natural disasters had hit a number of regions across China during the past year, Xi said: “As the Spring Festival draws near, on behalf of the Party Central Committee, I extend sincere regards and festive greetings to all those affected and those working on the frontlines of post-disaster reconstruction!”

    Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, learns about measures in place to optimize public services as well as details of progress made in improving people’s life while visiting a residential community in Shenyang, capital city of northeast China’s Liaoning Province, Jan. 23, 2025. [Photo/Xinhua]

    On Thursday morning, Xi went to the provincial capital Shenyang, where he talked with merchants and customers at a food market to learn about the market supply during the holiday season.

    He later visited a residential community in Shenyang, and acknowledged the significant improvements in living conditions following a general revamping there.

    At the community service center, Xi joined residents who were writing Spring Festival couplets, while children were tying Chinese knots that symbolize auspiciousness. He also enjoyed a Chinese bamboo flute performance, encouraging the performers to further promote fine traditional Chinese culture.

    Before leaving, Xi waved to the crowd and extended festive greetings. “Having a good Spring Festival means a great start to the new year,” he told the residents.

    MODERNIZATION, REVITALIZATION

    Inspecting a cold rolling mill of Bensteel Group in the city of Benxi on Thursday afternoon, Xi said that the manufacturing sector should keep pursuing higher-standard, smarter, and more eco-friendly development, and make more technology-intensive products with higher added value.

    Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, visits a cold rolling mill of Bensteel Group in Benxi City, northeast China’s Liaoning Province, Jan. 23, 2025. [Photo/Xinhua]

    After listening to the work report from local officials of Liaoning on Friday morning, Xi urged the province, which already has a relatively complete industrial system, to accelerate the modernization of this system.

    Traditional industries should strengthen industrial foundation reengineering and seek breakthroughs on major technologies and equipment to continuously boost core competitiveness, he said, while also highlighting the importance of ecological protection.

    The full revitalization of Northeast China relies fundamentally on reform and opening up, and more efforts should be made to strengthen the rule of law in government operations and optimize the business environment, Xi added, urging officials to improve their capabilities and performance in line with the country’s further opening up.

    Noting that Liaoning is rich in agricultural resources and has a solid foundation for development, Xi said the province should adhere to the integrated development of urban and rural areas.

    He also stressed enhancing cultural confidence and strength, unswervingly upholding the leadership of the Party and exercising full and rigorous Party self-governance.

    Xi urged more efforts to care for disadvantaged groups, ensure smooth transportation, provide sufficient market supplies, enrich people’s cultural life, and strengthen workplace safety during the holiday season.

    Cai Qi, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and director of the General Office of the CPC Central Committee, accompanied Xi on the inspection tour.

    MIL OSI China News –

  • MIL-OSI China: First China-Europe Express cargo ship completes maiden voyage

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

    WILHELMSHAVEN, Germany, Jan. 24 — The first container ship of the “China-Europe Express”, the fastest direct route connecting Europe and China’s Yangtze River Delta region, arrived at its destination at the Jade Weser Port in Wilhelmshaven on Friday.

    The “KAWA Ningbo” cargo ship, carrying over 1700 containers of new-energy and other high-value goods, completed its non-stop voyage in 26 days, well below the shipment time of 45 days in the past.

    “The launch of the ‘China-Europe Express’ route not only provides convenience for the exchange of goods between China and Europe, but also plays a positive role in stabilizing the global product and supply chains, vividly interpreting the profound connotation of jointly building the ‘Belt and Road,’” remarked Cong Wu, consul general of the Chinese General Consulate in Hamburg at a ceremony marking the completion of the voyage.

    Cong further emphasized that the steady development of this new route would undoubtedly create new cooperation opportunities for both regions and inject fresh vitality into bilateral economic growth.

    Frank Doods, State Secretary in the Lower Saxony Ministry of Economics, Transport, Construction and Digitization, praised the route for bringing rich development opportunities to the city of Wilhelmshaven where the port is located and the broader Lower Saxony. He also expressed optimism about deepening economic ties between Germany and China.

    This milestone route was established through a partnership agreement signed at the China International Import Expo last year. The maiden voyage departed from east China’s Ningbo-Zhoushan Port on Dec. 30. The route is set to operate on a monthly basis, enabling regular freight exchange between China and Europe.

    MIL OSI China News –

  • MIL-OSI China: China becomes largest online retail market for 12 consecutive years

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

    BEIJING, Jan. 24 — China has become the world’s largest online retail market for 12 consecutive years, with online retail sales reaching 15.5 trillion yuan (about 2.16 trillion U.S. dollars) in 2024, the Ministry of Commerce said Friday.

    China’s wholesale and retail industries have made steady progress driven by various policies, providing strong support for expanding domestic demand and forging a new development paradigm, Vice Commerce Minister Sheng Qiuping told a press conference.

    Sheng said that the added value of the wholesale and retail industries reached 13.8 trillion yuan in 2024, accounting for 10.2 percent of the GDP and playing a vital role in smoothing circulation, creating jobs and reducing logistics costs.

    The ministry will work with relevant departments to further enrich supporting policies, implement detailed measures and accelerate the promotion of high-quality development of wholesale and retail industries, so as to further smooth the circulation of the national economy, Sheng added.

    MIL OSI China News –

  • MIL-Evening Report: RNZ Pacific – 35 years of broadcasting trusted news to the region

    By Moera Tuilaepa-Taylor, RNZ Pacific manager

    RNZ International (RNZI) began broadcasting to the Pacific region 35 years ago — on 24 January 1990, the same day the Auckland Commonwealth Games opened.

    Its news bulletins and programmes were carried by a brand new 100kW transmitter.

    The service was rebranded as RNZ Pacific in 2017. However its mission remains unchanged, to provide news of the highest quality and be a trusted service to local broadcasters in the Pacific region.

    Although RNZ had been broadcasting to the Pacific since 1948, in the late 1980s the New Zealand government saw the benefit of upgrading the service. Thus RNZI was born, with a small dedicated team.

    The first RNZI manager was Ian Johnstone. He believed that the service should have a strong cultural connection to the people of the Pacific. To that end, it was important that some of the staff reflected parts of the region where RNZ Pacific broadcasted.

    He hired the first Pacific woman sports reporter at RNZ, the late Elma Ma’ua.

    Linden Clark (from left) and Ian Johnstone, former managers of RNZ International now known as RNZ Pacific, and Moera Tuilaepa-Taylor, current manager of RNZ Pacific . . . strong cultural connection to the people of the Pacific. Image: RNZ

    The Pacific region is one of the most vital areas of the earth, but it is not always the safest, particularly from natural disasters.

    Disaster coverage
    RNZ Pacific covered events such as the 2009 Samoan tsunami, and during the devastating 2022 Hunga Tonga-Hunga Haʻapai eruption, it was the only news service that could be heard in the kingdom.

    More recently, it supported Vanuatu’s public broadcaster during the December 17 earthquake by providing extra bulletin updates for listeners when VBTC services were temporarily out of action.

    Cyclones have become more frequent in the region, and RNZ Pacific provides vital weather updates, as the late Linden Clark, RNZI’s second manager, explained: “Many times, we have been broadcasting warnings on analogue shortwave to listeners when their local station has had to go off air or has been forced off air.”

    RNZ Pacific’s cyclone watch service continues to operate during the cyclone season in the South Pacific.

    As well as natural disasters, the Pacific can also be politically volatile. Since its inception RNZ Pacific has reported on elections and political events in the region.

    Some of the more recent events include the 2000 and 2006 coups in Fiji, the Samoan Constitutional Crisis of 2021, the 2006 pro-democracy riots in Nuku’alofa, the revolving door leadership changes in Vanuatu, and the 2022 security agreement that Solomon Islands signed with China.

    Human interest, culture
    Human interest and cultural stories are also a key part of RNZ Pacific’s programming.

    The service regularly covers cultural events and festivals within New Zealand, such as Polyfest. This was part of Linden Clark’s vision, in her role as RNZI manager, that the service would be a link for the Pacific diaspora in New Zealand to their homelands.

    Today, RNZ Pacific continues that work. Currently its programmes are carried on two transmitters — one installed in 2008 and a much more modern facility, installed in 2024 following a funding boost.

    Around 20 Pacific region radio stations relay RNZP’s material daily. Individual short-wave listeners and internet users around the world tune in directly to RNZ Pacific content which can be received as far away as Japan, North America, the Middle East and Europe.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: Hong Kong resident rescued from detention in Southeast Asian country to return to Hong Kong next Monday (with photo)

    Source: Hong Kong Government special administrative region

    Hong Kong resident rescued from detention in Southeast Asian country to return to Hong Kong next Monday (with photo)
    Hong Kong resident rescued from detention in Southeast Asian country to return to Hong Kong next Monday (with photo)
    ******************************************************************************************

         The Security Bureau (SB) today (January 25) said that a Hong Kong resident who had been detained for illegal work in Myanmar was recently rescued and safely arrived in Thailand earlier. With the co-ordination by the SB’s dedicated task force in Thailand over the past few days and the concerted efforts by different parties, the individual will return to Hong Kong next Monday (January 27) together with the dedicated task force.     Members of the dedicated task force had met with the Hong Kong resident at a detention centre last night (January 24) after his transferral to Bangkok. The task force members expressed sympathy to the individual, who expressed gratitude for the visit to Thailand by the task force members to follow up on his case. He was also very pleased to learn that he will be able to return to Hong Kong next Monday. He was in good mental and physical conditions. The task force members immediately made arrangements for his return to Hong Kong, and will continue to follow up to investigate his case after his return.     The Secretary for Security, Mr Tang Ping-keung, was very relieved that one more Hong Kong resident was rescued and able to return to Hong Kong to re-unite with his family before the Chinese New Year. He thanked sincerely for the support and assistance, as well as the importance attached to the case, by the Office of the Commissioner of the Ministry of Foreign Affairs in the Hong Kong Special Administrative Region, the Chinese Embassy in the Republic of the Union of Myanmar, the Chinese Embassy in the Kingdom of Thailand, the Consulate General of the People’s Republic of China in Chiang Mai, the Consulate General of Myanmar in Hong Kong, the Royal Thai Consulate-General, Hong Kong, the Hong Kong Economic and Trade Office in Bangkok and the relevant Thai authorities, enabling the return of the Hong Kong resident to Hong Kong within a short period of time as far as practicable. He also commended the dedicated task force for the committed efforts in following up the case and assisting the Hong Kong resident’s return to Hong Kong as soon as possible.     The dedicated task force, comprising members from the SB, the Hong Kong Police Force and the Immigration Department, has been contacting and liaising with different parties since their arrival in Thailand on January 21. They met with the Chinese Embassy in the Kingdom of Thailand, the Deputy Commissioner of the Immigration Bureau of the Royal Thai Police, Mr Phanthana Nutchanart; the officer-in-charge of the Immigration Detention Centre of the Royal Thai Police; the Director of Special Investigation and the Director of Human Trafficking under the Ministry of Justice of Thailand to discuss the arrangements for the rescued Hong Kong resident to return to Hong Kong as soon as possible and follow up on the remaining cases. The dedicated task force will continue to maintain close liaison with the relevant parties and proactively follow up on the remaining 10 request-for-assistance cases in which the individuals have not yet returned to Hong Kong.

     
    Ends/Saturday, January 25, 2025Issued at HKT 8:20

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI China: China unveils first guidelines on NEV insurance

    Source: China State Council Information Office 2

    China on Friday unveiled its first-ever guidelines for the insurance of new-energy vehicles (NEVs), introducing measures aimed at addressing key challenges currently facing the sector.
    NEV owners have long struggled with high insurance premiums and the risk of being denied coverage. At the same time, insurers have been burdened by financial losses due to the high repair costs of NEVs.
    The guidelines, jointly issued by the National Financial Regulatory Administration and three other government organs, aim to reduce maintenance costs for NEVs. They also emphasize the need for exploring the establishment of a risk-classification system for insurance models.
    In support of these efforts, the Insurance Association of China and the Shanghai Insurance Exchange announced on Friday that an insurance platform dedicated to the NEV sector will be launched on Saturday.
    The platform is designed to ensure proper insurance coverage for NEVs, particularly for high-risk vehicles. Insurers participating in the platform will be prohibited from denying coverage.
    China’s NEV sector has seen rapid development in recent years. By the end of 2024, the number of NEVs in use in China had reached 31.4 million, a 260-fold surge over the past decade, official data shows.

    MIL OSI China News –

  • MIL-OSI China: China, Vietnam pledge to promote bilateral ties

    Source: China State Council Information Office

    China and Vietnam pledged to promote the building of a China-Vietnam community with a shared future that carries strategic significance, as the two countries celebrated the 75th anniversary of their bilateral ties in Beijing on Friday.

    Li Hongzhong, vice chairman of the National People’s Congress Standing Committee, attended a reception celebrating the anniversary, saying that the friendship between China and Vietnam has grown stronger over the past 75 years.

    Li, also a member of the Political Bureau of the Communist Party of China Central Committee, said that China is willing to work with Vietnam to promote the building of a China-Vietnam community with a shared future that carries strategic significance under the strategic guidance of the top leaders of the two parties and countries, better benefiting the two peoples.

    MIL OSI China News –

  • MIL-OSI China: China, US should find right way to get along in new era

    Source: China State Council Information Office

    China and the United States should find the right way to get along in the new era, Chinese Foreign Minister Wang Yi said in a phone conversation with U.S. Secretary of State Marco Rubio held at the latter’s request on Friday.

    Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said Chinese President Xi Jinping held an important phone call with U.S. President Donald Trump last Friday and reached a series of consensus. The development of the China-U.S. relations have ushered in a new important node, Wang said.

    Xi comprehensively expounded China’s policy to the United States, and Trump responded positively, expressing his expectation to maintain good relations with Xi and emphasizing that U.S.-China cooperation can solve many problems in the world, Wang said.

    The two heads of state have pointed out the direction and set the tone for China-U.S. relations, said Wang.

    The teams of both sides should follow through on the important consensus reached by the two heads of state, maintain communication, control differences, expand cooperation based on the principles of mutual respect, peaceful coexistence and win-win cooperation, promote the stable, healthy and sustainable development of China-U.S. relations, and find the right way for China and the United States to get along in the new era, he said.

    Wang said that the Communist Party of China’s leadership is the choice of the Chinese people. China’s development has a clear historical logic and a strong innate driving force, he said, adding China’s goal is to deliver a better life to the people and make greater contributions to the world.

    China has no intention to overtake or replace any country, but must safeguard its legitimate rights to development, he said.

    Elaborating on China’s principle and position on the Taiwan question, Wang asked the United States to handle it with caution.

    Taiwan has been an integral part of China’s territory since ancient times, Wang said, stressing that China will never allow Taiwan to be separated from the motherland.

    Wang noted that the United States made solemn commitments to the one-China policy in the three China-U.S. joint communiques and should not go back on its word.

    For his part, Rubio said that the United States and China are two great nations. The U.S.-China relations are the most important bilateral relationship of the 21st century and will shape the future of the world, he said.

    The United States is willing to engage in candid communication with China, resolve differences properly, manage bilateral relations in a mature and cautious way, jointly address global challenges and maintain world peace and stability, he said.

    Rubio said the United States does not support “Taiwan independence” and hopes the Taiwan question can be resolved by peaceful means which are acceptable to both sides of the Taiwan Strait.

    Wang said major countries should act like major countries and should take on their due international responsibilities, safeguard world peace and help all countries achieve common development.

    Wang expressed his hope that Rubio would make the right decisions and play a constructive role for the future of the Chinese and the American people, as well as for global peace and stability.

    MIL OSI China News –

  • MIL-OSI China: China, Netherlands pledge to build open world economy, strengthen green development cooperation

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

    China, Netherlands pledge to build open world economy, strengthen green development cooperation

    Chinese Vice Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, meets with Dutch King Willem-Alexander in The Hague, the Netherlands, Jan. 22, 2025. Ding visited the Netherlands from Jan. 22 to Jan. 23 at the invitation of the government of the Netherlands. [Photo/Xinhua]

    THE HAGUE, Jan. 24 — Chinese Vice Premier Ding Xuexiang met with Dutch leaders on Wednesday and Thursday in The Hague. The two sides agreed to jointly promote an open world economy, and strengthen cooperation in various fields including green development.

    Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, met separately with Dutch King Willem-Alexander, Prime Minister Dick Schoof, and Deputy Prime Minister and Minister of Climate and Green Growth Sophie Hermans during his two-day visit.

    Ding said that under the strategic guidance of the two countries’ leaders, the open and pragmatic partnership for comprehensive cooperation between China and the Netherlands has been steadily enhanced with fruitful cooperation in various fields, bringing benefits to the two countries and two peoples.

    China is willing to further strengthen communication with the Netherlands to enhance mutual trust, push for greater development of bilateral relations and help the two countries accelerate the realization of their respective development goals, he said.

    Stressing that both China and the Netherlands are beneficiaries and supporters of an open world economy, Ding said China is committed to high-quality development through high-standard opening-up, welcoming Dutch companies to expand cooperation with China.

    It is also hoped that the Dutch side will continue to provide a fair, equitable and non-discriminatory business environment for Chinese companies, safeguard common interests and maintain a stable and unimpeded global industrial and supply chains, and realize the two sides’ complementary advantages, shared opportunities and common development, Ding said.

    This year marks the 50th anniversary of the establishment of diplomatic ties between China and the European Union (EU). The vice premier said China is willing to strengthen dialogue and deepen cooperation with the EU to promote the sound and stable development of the China-EU relations, and hopes the Netherlands will play a constructive role in this regard.

    King Willem-Alexander said that the Dutch side cherishes mutual trust and friendship and is willing to deepen cooperation with China to jointly push for continuous progress in the Netherlands-China relations.

    In the face of the current geopolitical conflicts, countries should communicate frankly, seek consensus, work together and jointly address global challenges, the King added.

    Schoof said the Dutch side admires China’s development achievements and regards China as a stable partner, adding that the Netherlands is willing to strengthen dialogue with China, enhance understanding and mutual trust, and expand practical cooperation in various fields such as water conservancy, green development, and medical and health care.

    Schoof also noted that the Netherlands is ready to work with China to safeguard free trade and promote openness and cooperation.

    Hermans congratulated China on its achievements in environmental protection and green development, and appreciated China’s contributions to the implementation of the Paris Agreement.

    The Dutch side is looking forward to promoting cooperation with China in areas such as clean energy, green transition, circular economy, and climate adaptation, Hermans said.

    Chinese Vice Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, meets with Dutch Prime Minister Dick Schoof in The Hague, the Netherlands, Jan. 23, 2025. [Photo/Xinhua]
    Chinese Vice Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, meets with Dutch Deputy Prime Minister and Minister of Climate and Green Growth Sophie Hermans in The Hague, the Netherlands, Jan. 23, 2025. Ding visited the Netherlands from Jan. 22 to Jan. 23 at the invitation of the government of the Netherlands. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: Customers select Spring Festival decorations ahead of Spring Festival across China

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

    Customers select Spring Festival decorations ahead of Spring Festival across China

    Updated: January 25, 2025 08:57 Xinhua
    Customers select Spring Festival decorations ahead of the Spring Festival in Zibo, east China’s Shandong Province, Jan. 24, 2025. The Chinese New Year, or the Spring Festival, falls on Jan. 29, marking the beginning of the Year of the Snake. [Photo/Xinhua]
    Customers select Spring Festival decorations ahead of the Spring Festival in Ningbo, east China’s Zhejiang Province, Jan. 24, 2025. [Photo/Xinhua]
    Customers select Spring Festival decorations ahead of the Spring Festival in Zunhua, north China’s Hebei Province, Jan. 24, 2025. [Photo/Xinhua]
    Customers select Spring Festival decorations ahead of the Spring Festival in Linyi, east China’s Shandong Province, Jan. 24, 2025. [Photo/Xinhua]
    Customers select Spring Festival decorations ahead of the Spring Festival in Tangshan, north China’s Hebei Province, Jan. 23, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: China to carry out pilot reform on auto consumption

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

    BEIJING, Jan. 24 — China will conduct pilot reform on the circulation and consumption of automobiles to expand and implement the trade-in program of consumer goods and further release the potential of automobile consumption, according to a circular released on Friday.

    The circular, jointly released by eight departments including the Ministry of Commerce, pledged efforts to cultivate a number of model enterprises in the innovative development of automobile circulation and consumption by 2027.

    Efforts will be made to stabilize and expand automobile consumption, while encouraging localities to gradually relax or cancel the purchase restriction policies of cars. The consumption of energy-saving and new-energy vehicles will also be encouraged.

    It is also said in the circular that China will promote the efficient circulation of used cars, optimize its management system, expand the source and improve the quality of used cars with enhanced services.

    The circular includes plans to promote the standardized and orderly development of car modification, car rental, racing, RV camping and classic cars, while optimizing the recycling system for scrapped vehicles.

    Enterprises will be encouraged to set up sales and service systems for new and used cars that integrate online and offline services to improve the digital level of automobile consumption.

    MIL OSI China News –

  • MIL-OSI China: Sichuan attracts numerous tourists, snow sports enthusiasts each snow season

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

    Sichuan attracts numerous tourists, snow sports enthusiasts each snow season

    Updated: January 25, 2025 08:58 Xinhua
    An aerial drone photo taken on Jan. 11, 2025 shows tourists skiing at Wanggangping scenic spot in Shimian County, southwest China’s Sichuan Province. According to the Sichuan Provincial Department of Culture and Tourism, Sichuan has nearly 50 snow and ice tourism areas and 16 key ski resorts, attracting numerous tourists and snow sports enthusiasts each snow season. [Photo/Xinhua]
    An aerial drone photo taken on Jan. 14, 2025 shows a view of Xiling Mountain snow resort in Dayi County, Chengdu, southwest China’s Sichuan Province. [Photo/Xinhua]
    An aerial drone photo taken on Jan. 11, 2025 shows a view of Xiling Mountain snow resort in Dayi County, Chengdu, southwest China’s Sichuan Province. [Photo/Xinhua]
    An aerial drone photo taken on Jan. 12, 2025 shows a view of Mount Emei scenic spot in southwest China’s Sichuan Province. [Photo/Xinhua]
    An aerial drone photo taken on Jan. 18, 2025 shows tourists skiing at Taiziling Ski Resort in Maoxian County, southwest China’s Sichuan Province. [Photo/Xinhua]
    A drone photo taken on Jan. 12, 2025 shows a view of Leidongping scenic spot in Mount Emei, southwest China’s Sichuan Province. [Photo/Xinhua]
    An aerial drone photo taken on Jan. 19, 2025 shows a view of Taiziling Ski Resort in Maoxian County, southwest China’s Sichuan Province. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: Winter tourism boosts ‘ice and snow economy’ in China’s Hubei

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

    Winter tourism boosts ‘ice and snow economy’ in China’s Hubei

    Updated: January 25, 2025 09:14 Xinhua
    Tourists dine at a restaurant at a ski resort in Shennongjia Forestry District, central China’s Hubei Province, Jan. 23, 2025. In recent years, with rich ski resorts and ecotourism resources, Shennongjia Forestry District has witnessed a large number of tourists in winter. The booming tourism has also advanced the development of local “ice and snow economy.” [Photo/Xinhua]
    Ski enthusiasts take ski lift at a ski resort in Shennongjia Forestry District, central China’s Hubei Province, Jan. 22, 2025. [Photo/Xinhua]
    An aerial drone photo taken on Jan. 23, 2025 shows a ski resort in Shennongjia Forestry District, central China’s Hubei Province. [Photo/Xinhua]
    A coach (front) instructs learners at a ski resort in Shennongjia Forestry District, central China’s Hubei Province, Jan. 23, 2025. [Photo/Xinhua]
    Tourists ski at a ski resort in Shennongjia Forestry District, central China’s Hubei Province, Jan. 22, 2025. [Photo/Xinhua]
    A tourist skis at a ski resort in Shennongjia Forestry District, central China’s Hubei Province, Jan. 23, 2025. [Photo/Xinhua]
    Tourists buy ski equipment at a shop in Shennongjia Forestry District, central China’s Hubei Province, Jan. 23, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI Asia-Pac: TWC:1910 Provides 24/7 Customer Support

    Source: Republic Of China Taiwan 2

    The Taiwan Water Corporation Customer Service Hotline 1910 is still on 24/7 while TWC offices will be closed during the Lunar New Year. Users with any questions,such as water using,bills,reporting water leaking,can get assistance by calling 1910.

    TWC provides a variety of convenient payment methods. Users can easily pay through the following methods during the Lunar New Year.
    1.Taiwan Water Corporation official website.
    2.Taiwan Water Corporation APP.
    3.Mobile payment:JKOPay,iPASS MONEY,TCPASS,GAMAPAY,PiAPP,icash Pay,ezPay,beePay,TaiwanPay,Easy Wallet,PXPay and PlusPAY.
    4.At convenience stores:Pay water bill at 7-11,Family Mart,Hi-Life,OK and Simple Mart. Users without water bills,can print them with KIOSK Machines,like ibon,OKGo,Fami Port,Life-ET.

    Before returning to hometown for reunions,please check the water equipment at home,TWC offices will be open on February 3rd,2025.

    Ministry of Economic Affairs Taiwan Water Company
    Spokesman:Vice President Wu, Jing-Wen
    Contact Number:04-22244191 Ext.205,Mobile Phone:0934-262835
    Email:jingwen@mail.water.gov.tw

    Business Contact:Director, Dept. of Business LIN,MENG-ZHU
    Contact Number:04-22244191 Ext.400,Mobile Phone:0952-402749
    Email:moju @mail.water.gov.tw

    MIL OSI Asia Pacific News –