BEIJING, June 9 — Xinhua Institute, a think tank affiliated with Xinhua News Agency, on Sunday released a report highlighting China’s commitment to building the South China Sea into a sea of peace, friendship, and cooperation.

The report, titled “Making the South China Sea a Sea of Peace, Friendship and Cooperation: China’s Actions” and published in both Chinese and English, noted that China has always been a steadfast advocate, promoter, and guardian of peace and stability in the South China Sea.

According to the report, China has long maintained that peace and stability in these waters depend on collaborative efforts between China and member states of the Association of Southeast Asian Nations (ASEAN). Through deepened trust and cooperation across political, economic, and cultural spheres, this partnership has created lasting mutual benefits. Consequently, China has emerged as a reliable force for maintaining regional peace and stability while promoting cooperation and development in the South China Sea.

The report stated that China has always adhered to the principles of building the South China Sea into a sea of peace, friendship, and cooperation: equal-footed consultation, rule-based comanagement, mutually-beneficial cooperation, and a constructive role.

The report called on China and ASEAN countries to ensure that the solutions of the South China Sea issues remain in their own hands, to adhere to sound principles and direction in addressing the issues, and to continue upholding the notion of a maritime community with a shared future.

The report also called for joint efforts by China and ASEAN countries to build the South China Sea into a sea of peace, friendship, and cooperation that benefits the people of all regional countries. (Xinhua)

BEIJING, June 9 — Chinese President Xi Jinping and Myanmar leader Min Aung Hlaing on Sunday exchanged congratulations on the 75th anniversary of diplomatic ties between the two countries.

In his message, Xi said that over the past 75 years since the establishment of diplomatic ties, the “Paukphaw” (fraternal) friendship between China and Myanmar has stood the test of time and grown even stronger.

Upholding the jointly advocated Five Principles of Peaceful Coexistence and the Bandung Spirit, the two countries have been committed to good neighborliness, deepened mutually beneficial cooperation, and firmly supported each other on issues regarding their respective core interests and major concerns, setting a fine example of friendly exchange between countries, he said.

Xi recalled his meeting with Min Aung Hlaing in Russia in May, when the two leaders reached important consensus on building the China-Myanmar community with a shared future.

China attaches great importance to the development of its ties with Myanmar and stands ready to work with Myanmar to take the 75th anniversary of diplomatic ties as an opportunity to accelerate high-quality Belt and Road cooperation, jointly implement the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative and push for solid progress in building the China-Myanmar community with a shared future, so as to deliver more benefits to the two peoples, Xi stressed.

For his part, Min Aung Hlaing said that Xi’s historic visit to Myanmar in 2020 opened a new chapter in building the Myanmar-China community with a shared future.

After a powerful earthquake struck Myanmar earlier this year, the Chinese government and people offered humanitarian assistance promptly, fully demonstrating the deep friendship between our two peoples in standing together through thick and thin and helping each other in times of difficulties, he said.

Min Aung Hlaing hailed his meeting with Xi in Moscow as fruitful, as they reached important consensus on deepening strategic cooperation. He also expressed gratitude to China for its firm support of Myanmar’s efforts to achieve peace and stability, national reconciliation and economic development.

The Myanmar leader said he looks forward to accelerating cooperation with China across various fields and forging a stronger, more resilient and mutually beneficial partnership.

Also on Sunday, Chinese Premier Li Qiang exchanged congratulations with Min Aung Hlaing.

Li said that over the past 75 years, thanks to joint efforts from both sides, significant progress has been made in friendly exchanges and practical cooperation in various fields.

Li voiced his readiness to work with Min Aung Hlaing to deepen the comprehensive strategic cooperation between the two countries and advance solid progress in building the China-Myanmar community with a shared future, so as to inject new momentum into respective development.

Under the guidance of the Five Principles of Peaceful Coexistence, steady growth has been achieved in Myanmar-China relations, said Min Aung Hlaing, voicing willingness to work with China to jointly build the community with a shared future so as to better benefit the two peoples. (Xinhua)

BEIJING, June 9– China’s central bank has introduced a series of measures aimed at helping small and medium-sized enterprises (SMEs) weather external uncertainties and stabilize their operations, according to an official with the research institute of the central bank.

“The moderately loose monetary policy adopted by the People’s Bank of China (PBOC) helps expand funding available to the real economy, lower financing costs for businesses, especially the SMEs, and enhance their operational stability,” said Ding Zhijie, head of the Research Institute at the PBOC, at the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.

Ding said the PBOC has taken steps to bolster the smaller businesses by providing stronger credit support and easing their interest burdens.

By the end of April, the outstanding inclusive loans issued to micro and small enterprises reached 34.3 trillion yuan (about 4.77 trillion U.S. dollars), up 11.9 percent year on year, outpacing the growth of overall lending.

The cost of financing for businesses has also declined. In April, the weighted average interest rate on newly issued corporate loans stood at 3.2 percent, down 50 basis points from a year earlier.

In a further move, the PBOC has decided to add 300 billion yuan to its relending quota, aimed at supporting the agricultural sector and small businesses.

Ding also emphasized the role of the entrepreneurship guarantee loan, a policy tool introduced in 2016 to spur job creation and entrepreneurship. He said the central bank would continue urging banks at all levels to implement the policy more effectively to expand financial assistance in stabilizing employment. (Xinhua)

BEIJING, June 9– Since the beginning of the year, Jiangsu Tengsheng Textile Technology Group Co., Ltd. has been a hub of activity. Their participation in a national initiative has set the textile manufacturer on a promising path for a brighter future.

“Upon completion of the renewal, our equipment will achieve a leading standard within the domestic industry,” said Chen Guichun, deputy general manager of the company located in east China’s Jiangsu Province. “We expect this upgrade to boost our efficiency by over 5 percent and increase output per unit by around 20 percent.”

The company’s efforts are part of the China’s large-scale equipment renewal and consumer goods trade-in program, which was launched in March 2024. The program entails various government departments utilizing ultra-long special treasury bonds to accelerate the implementation of related measures, with the aim of stimulating investment and consumption.

The People’s Bank of China, China’s central bank, announced last month an increase in its relending for technological innovation and technical transformation from 500 billion yuan (about 69.6 billion U.S. dollars) to 800 billion yuan. Additionally, it has lowered the relending rate from 1.75 percent to 1.5 percent.

This increase is part of the central bank’s structural monetary tools aimed at expanding domestic demand, said Ding Zhijie, head of a research institute at the central bank. “It will provide unwavering support for the implementation of the equipment renewal and consumer goods trade-in program,” Ding said during the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.

“It took only four months from application to receiving government support, which is highly efficient for us,” said Xu Guoqiang, assistant manager of a power battery production subsidiary of Chilwee Group Co., Ltd., located in east China’s Zhejiang Province.

According to Xu, the company invested a total of 60 million yuan in equipment renewal, with over 8 million yuan of the investment being government-funded.

Similarly, numerous companies across the country’s key industrial sectors have undertaken equipment renewal and are reaping the benefits. In April, the added value of China’s major high-tech manufacturing and digital product manufacturing sectors both saw a year-on-year increase of 10 percent, data from the National Bureau of Statistics showed.

Over a year since its launch, this national program has successfully tapped into the vast potential of China’s domestic market. In the first four months of this year, investment in equipment and instruments surged by 18.2 percent compared to the previous year. This increase accounted for 64.5 percent of the overall investment growth during this period, according to the bureau.

Ding Lin, an official with the National Development and Reform Commission (NDRC), said at China Economic Roundtable that China, as the world’s second-largest economy with a population exceeding 1.4 billion, has enormous potential to unlock in order to expand domestic demand.

To this end, the country should explore more approaches to increase people’s income and boost consumer capacity, while further optimizing its pro-consumption policies, Ding said.

In addition to advancing equipment renewal nationwide, Ding said that the NDRC, China’s top economic planner, will allocate 800 billion yuan of ultra-long special treasury bonds to support the country’s major national strategies and bolster security capacity in key areas. Ding described the fund as a “proactive move” to stimulate effective investment.

“We will accelerate project construction and fund allocation to achieve tangible outcomes as soon as possible,” Ding added. (Xinhua)

BEIJING, June 9 — China has seen moderate and steady development momentum in the job market this year thanks to combined efforts including a series of pro-employment policies, an official said.

A systematic employment support plan has been advanced, focusing on expanding opportunities in strategic sectors, key industries, urban-rural grassroots communities, and small enterprises, said Chen Yongjia, an official with the Ministry of Human Resources and Social Security, on the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.

A comprehensive policy package has been implemented. Measures include raising loan quotas for job stabilization programs, broadening eligibility for job expansion subsidies, and extending policies such as skills enhancement allowances to maximize policy effectiveness, he said.

Regarding demand-driven skills training, large-scale vocational training programs have been launched to elevate workers’ technical competencies, he noted.

China has worked to provide targeted assistance for key groups. A new round of 17 youth-focused employment policies has been issued, offering tailored support for graduates and young job seekers to safeguard their employment prospects, Chen added.

China will roll out additional pro-employment measures in a timely manner to further underpin economic growth and social stability, he said.

Official data shows that the number of college graduates in China is likely to reach 12.22 million in 2025, an increase of 430,000 from last year.

China’s job market has remained generally stable recently, with the surveyed urban unemployment rate on average down from 5.2 percent in March to 5.1 percent in April, according to the National Bureau of Statistics. (Xinhua)

BEIJING, June 9 — Building on a positive start in the first quarter of 2025, China’s economy is continuing to make steady progress, said Ding Lin, an official with the National Development and Reform Commission.

Speaking on the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency, Ding noted that despite a complex external environment, China’s economy has remained resilient. Notably, key indicators like industrial production, the service sector, domestic demand and exports have shown robust growth.

Ding emphasized China’s innovative dynamism, citing 10-percent growth in the high-tech manufacturing sector in April, nearly 4 percentage points higher than the country’s overall industrial growth rate.

Ding also highlighted the accelerated development of industries such as drones, new energy vehicles, artificial intelligence and humanoid robots.

“In general, as pro-growth measures are swiftly implemented, their effects will continue to emerge, further promoting the country’s high-quality economic development,” Ding added.

China’s GDP grew by 5.4 percent year on year in the first quarter of 2025. (Xinhua)