
CGTN: How China Boosts High-quality Development, High-Efficiency Governance For Modernization Drive
BEIJING, May 21 (Bernama) -- Located in Luoyang in central China's Henan Province, Luoyang Bearing Group Co., Ltd. is a traditional manufacturing firm that has invested heavily in scientific and technological research and made significant progress in industrial upgrading in recent years.
The firm has built a leading domestic bearing test platform for aerospace, wind power generation, high-speed railways, and new energy vehicles and has realized full digitalization of products from design, material selection, and production to delivery by applying technologies such as 5G Industrial Internet of Things.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Barnama
an hour ago
- Barnama
IMFC-J Succesfully Facilitates Five Projects Worth RM16.5 Bln In JS-SEZ To Date
BUSINESS KUALA LUMPUR, May 19 (Bernama) -- Five major investment projects have been fully facilitated through the Invest Malaysia Facilitation Centre Johor (IMFC-J) to date, representing RM16.5 billion in committed investment in the Johor-Singapore Special Economic Zone (JS-SEZ), said Johor Menteri Besar Datuk Onn Hafiz Ghazi. He said the IMFC-J is currently in active engagement with 47 more investors, with potential investments totalling RM40.1 billion, across key sectors such as manufacturing, data centres, and energy from key markets such as Singapore, China, and South Korea. "In just over two months since its launch, IMFC-J has received more than 300 investor enquiries, with 100 focused on the Forest City Special Financial Zone alone. "But as a facilitator, the job of the IMFC-J is also to convert the very real interest into actual investments, and that is exactly what it has been delivering on," he said during his opening address at the 'JS-SEZ Partners Dialogue: Advancing Facilitation' forum today. IMFC-J was launched last February in collaboration with federal partners, jointly operated and led by Iskandar Regional Development Authority (IRDA), Invest Johor, and Malaysian Investment Development Authority (MIDA) to remove bottlenecks and fast-track investor journeys within the JS-SEZ. In the meantime, Onn Hafiz highlighted that Johor has secured RM27.4 billion in total approved investments in the first quarter of 2025 - a record-breaking achievement - as it took the state nine months in 2024 to reach the same milestone. "We currently have an additional RM23 billion in the investment pipeline, expected to materialise by the end of this quarter. If these numbers hold, and we believe they will, Johor will exceed RM50 to RM60 billion in total investments in 2025, surpassing last year's RM48.5 billion - this will position Johor yet again in the top three investment destinations in Malaysia," he added. -- BERNAMA


Malaysian Reserve
5 hours ago
- Malaysian Reserve
Ringgit opens lower vs greenback amid challenging global economy
THE ringgit opened lower against the US dollar on Monday as the greenback strengthened amid renewed volatility from a challenging global economy outlook for the second half of 2025. At 8.03 am, the local note stood at 4.2375/2560 against the greenback, easing from Friday's close of 4.2270/2360. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit is expected to range between 4.23 and 4.24 today, following the stronger-than-expected United States (US) nonfarm payroll (NFP) data for May. He highlighted that the US NFP rose 139,000 in May, higher than the consensus estimate of 126,000, while the unemployment rate was sustained at 4.2 per cent for three consecutive months, pushing the US dollar index (DXY) higher on Friday to 99.190 points. 'The latest NFP print seems to suggest that the labour market in the US is still fairly resilient despite having to contend with higher tariffs,' he told Bernama. Nonetheless, Mohd Afzanizam said, April's NFP was revised lower to 147,000 from 177,000, and the US labour force participation rate declined to 62.4 per cent in May from 62.6 per cent in April. 'On that note, while the labour market is still chugging along, signs of further moderation in the data series have been gradually emerging. 'As business and consumer sentiments remain weak, the outlook for the second half of 2025 economy looks increasingly challenging. Hence, the case for a lower US Federal Fund Rate is gaining momentum in our view,' he added. He noted that the ringgit has gained against the greenback, with USDMYR closing at 4.2315, giving a week-on-week appreciation of 0.6 per cent last week. At the early session, the ringgit traded mostly lower against a basket of major currencies. It slightly increased against the Japanese yen to 2.9305/9435 from Friday's 2.9324/9390, but depreciated versus the British pound to 5.7367/7618 from 5.7212/7334 and eased vis-a-vis the euro to 4.8341/8552 from 4.8268/8371. The local currency also traded mostly lower against most of its ASEAN peers. It rose versus the Thai baht to 12.9468/13.0121 from 12.9599/9947 at Friday's close, while the ringgit decreased against the Singapore dollar to 3.2892/3041 from 3.2862/2934, dropped against the Philippine peso to 7.60/7.64 from 7.58/7.60 and fell against the Indonesian rupiah to 260.1/261.4 from 259.5/260.2. — BERNAMA


The Star
6 hours ago
- The Star
Ringgit opens lower vs greenback amid challenging global economy
KUALA LUMPUR: The ringgit opened lower against the US dollar on Monday as the greenback strengthened amid renewed volatility from a challenging global economy outlook for the second half of 2025. At 8.03 am, the local note stood at 4.2375/2560 against the greenback, easing from Friday's close of 4.2270/2360. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit is expected to range between 4.23 and 4.24 today, following the stronger-than-expected United States (US) nonfarm payroll (NFP) data for May. He highlighted that the US NFP rose 139,000 in May, higher than the consensus estimate of 126,000, while the unemployment rate was sustained at 4.2 per cent for three consecutive months, pushing the US dollar index (DXY) higher on Friday to 99.190 points. "The latest NFP print seems to suggest that the labour market in the US is still fairly resilient despite having to contend with higher tariffs,' he told Bernama. Nonetheless, Mohd Afzanizam said, April's NFP was revised lower to 147,000 from 177,000, and the US labour force participation rate declined to 62.4 per cent in May from 62.6 per cent in April. "On that note, while the labour market is still chugging along, signs of further moderation in the data series have been gradually emerging. "As business and consumer sentiments remain weak, the outlook for the second half of 2025 economy looks increasingly challenging. Hence, the case for a lower US Federal Fund Rate is gaining momentum in our view,' he added. He noted that the ringgit has gained against the greenback, with USDMYR closing at 4.2315, giving a week-on-week appreciation of 0.6 per cent last week. At the early session, the ringgit traded mostly lower against a basket of major currencies. It slightly increased against the Japanese yen to 2.9305/9435 from Friday's 2.9324/9390, but depreciated versus the British pound to 5.7367/7618 from 5.7212/7334 and eased vis-a-vis the euro to 4.8341/8552 from 4.8268/8371. The local currency also traded mostly lower against most of its ASEAN peers. It rose versus the Thai baht to 12.9468/13.0121 from 12.9599/9947 at Friday's close, while the ringgit decreased against the Singapore dollar to 3.2892/3041 from 3.2862/2934, dropped against the Philippine peso to 7.60/7.64 from 7.58/7.60 and fell against the Indonesian rupiah to 260.1/261.4 from 259.5/260.2. - Bernama