Latest news with #Beijing-based
New Straits Times
a day ago
- Business
- New Straits Times
Shanghai metals rise after China vows to shore up industrial growth
SINGAPORE: The most-traded metals contracts on the Shanghai Futures Exchange rose on Monday after China's industry ministry last week vowed to stabilise the machinery, autos and electrical equipment sectors. China will roll out action plans to stabilise growth in these industrial sectors, Tao Qing, an official from the ministry, said on Friday. The move is designed to "improve premium supply capacity" to set up the industry for an effective upgrade in quality terms and reasonable growth as measured by quantities, while promoting an "orderly exit of outdated production capacity", Tao added. SHFE zinc gained the most, rising 2.69 per cent to 22,900 yuan (US$3,190.48) a ton as of 0102 GMT. Earlier, the contract hit 22,915 yuan, the highest since May 14. SHFE nickel added 1.25 per cent to 121,750 yuan, aluminium gained 1.17 per cent to 20,745 yuan, lead grew 1.04 per cent to 16,990 yuan, copper rose 0.87 per cent to 78,990 yuan and tin advanced 0.56 per cent to 265,390 yuan. "What China's industrial ministry said has been encouraging for metals in general," a Beijing-based metals analyst at a futures company said, adding, "Industrial sectors are all very relevant to metals." In addition to the downstream industries, the action plan will cover 10 key industries, including steel, nonferrous metals, petrochemicals and construction materials, the ministry noted. "Metals in general have responded positively to the news, and whichever with more room for price growths will strengthen more remarkably," a Shanghai-based metals analyst at a futures company said. On Monday, LME metals fluctuated narrowly, after Friday's surge, with zinc up 0.5 per cent to US$2,832.5 per ton. Earlier in the session, it touched US$2,837, the highest since April 1. LME aluminium rose 0.15 per cent to US$2,633.5, lead gained 0.13 per cent to US$33,490, nickel added 0.11 per cent to US$15,235, while lead eased 0.1 per cent to US$2,008. Copper traded flat at US$9,776.5 after touching US$9,777 on Friday, the highest since July 8.
Kuwait Times
a day ago
- Business
- Kuwait Times
China considers measures to avert economic slump
BEIJING: China has a 'plentiful' toolbox to avoid an economic slump in the second half of the year, its commerce minister said Friday as he admitted it faced a 'very severe and complex situation'. Growth hit 5.2 percent in the second quarter, official data showed Tuesday, but analysts have warned that more must be done to boost sluggish domestic consumption as exports face the knock-on effects of global trade turmoil. Retail sales rose far less than expected last month and were much weaker than May, suggesting efforts to kickstart consumption have fallen flat. 'We are still facing a very severe and complex situation. Global changes are unstable and uncertain. Some of our policies will provide some new responses according to the times and circumstances,' Wang Wentao told journalists at a news briefing. 'Our toolbox is plentiful, and we will be fully prepared.' Asked specifically about China's reliance on exports, Wang suggested the government was preparing policies to 'further stimulate the momentum of our consumption development'. 'China's economy is improving, and the long-term fundamentals have not changed, the consumption market's characteristics of great potential, strong resilience and vitality have not changed,' he said. Wang also namechecked Beijing-based toymaker Pop Mart, whose Labubu monster dolls have become a must-have item internationally, adorning the handbags of celebrities such as Rihanna and Dua Lipa. 'We are also promoting new forms of consumption... for example Pop Mart, these kinds of new trends, new fashions and styles... the Labubu phenomenon has swept the world,' he said. Beijing is battling to shift towards a growth model propelled more by domestic demand than the traditional key drivers of infrastructure investment, manufacturing and exports. That desired transformation has become more urgent since Donald Trump came to office. The US president has imposed tolls on China and most other major trading partners, upending trade norms and endangering Beijing's exports at a time it needs them more than ever to stimulate economic activity. The two superpowers have sought to de-escalate their row after reaching a framework for a deal at talks in London last month, but observers warn of lingering uncertainty. Wang said Friday that despite 'storms and rain', Washington remained an important trading partner. Even though China-US trade has declined proportionally for each country, overall bilateral trade has remained stable, Wang said. In a sign of progress, US tech giant Nvidia said this week that it would resume sales of its H20 artificial intelligence chips to China after Washington pledged to remove licensing restrictions that had halted exports. China's commerce ministry acknowledged the US decision in a statement Friday afternoon, even as it called for Washington to 'abandon its zero-sum mentality'. 'China believes that the United States should... continue to cancel a series of unreasonable economic and trade restrictive measures,' the statement read. Nvidia CEO Jensen Huang has met with Chinese leaders this week in Beijing, telling journalists Wednesday that his firm was 'doing our best' to serve the country's vast semiconductor market. Wang praised recent visits by Huang and other US executives on Friday, noting that the solid economic and popular basis for US-China cooperation 'makes artificial decoupling and severing supply chains impossible', he said. Yet an inconsistent tune has 'severely impacted and disrupted normal trade cooperation between China and the United States', said Wang. Since Trump's first term, 'the trend of the trade frictions provoked by the United States has had ups and downs', he said. –AFP
Economic Times
3 days ago
- Business
- Economic Times
China economy still facing 'very severe, complex situation': commerce minister
China's Commerce Minister acknowledged the nation's economy faces a "very severe and complex situation" despite 5.2% growth in the second quarter. The government is preparing new policies to stimulate domestic consumption and counter the impact of global trade turmoil on exports. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Beijing: China's economy is still facing a "very severe and complex situation", its minister of commerce said Friday, suggesting the government would take action to counter challenges came in at 5.2 percent in the second quarter, official data showed Tuesday, but analysts have warned that more work was needed to avoid a slump in the second half of knock-on effects of trade turmoil abroad threaten Beijing's exports just as it becomes more reliant on them to stimulate economic activity, as domestic consumption remains stubbornly sluggish."We are still facing a very severe and complex situation. Global changes are unstable and uncertain. Some of our policies will provide some new responses according to the times and circumstances," Wang Wentao told journalists at a news briefing."Our toolbox is plentiful, and we will be fully prepared."Asked specifically about China's reliance on exports, Wang suggested the government was preparing policies to "further stimulate the momentum of our consumption development"."China's economy is improving, and the long-term fundamentals have not changed, the consumption market's characteristics of great potential, strong resilience and vitality have not changed," he said."We are also promoting new forms of consumption... for example Pop Mart, these kinds of new trends, new fashions and styles... the Labubu phenomenon has swept the world."Beijing-based toymaker Pop Mart's Labubu monster dolls have become a must-have item internationally, adorning the handbags of celebrities such as Rihanna and Cher.
Borneo Post
3 days ago
- General
- Borneo Post
‘How do we love?': Young Chinese explore answers in classrooms
A student takes selfies with family members at a national college entrance examination site in Shijiazhuang City, north China's Hebei Province on June 9, 2025. – Xinhua photo BEIJING (July 19): In an era that increasingly values diverse life choices – whether embracing romance, exploring virtual love, or opting out altogether – one question still resonates with many, especially the young: How do we love and be loved in return? At Wuhan University of Technology (WUT), in central China's Hubei Province, that very question lingers in the minds of over a hundred students enrolled in one of the university's most popular electives: Psychology of Love. But this is no dating bootcamp. It's a form of emotional education, urgently needed as many young people feel ill-equipped to manage the emotional complexities of modern connection, particularly in a time of increasing academic, economic, and psychological pressure. For sophomore Zou Tao, who is navigating a long-distance relationship with his high school sweetheart, the class has offered something missing from his years of academic training: lessons on how to understand emotions and effective communication. 'My girlfriend sometimes gets upset at the worst moments,' Zou said. 'I knew something was wrong, but I didn't know why, or how to respond. This course helps.' Zou is part of a growing wave of young Chinese searching for more than just an answer to whether to love. They are asking how to build, understand, and sustain intimate relationships. Based on a nationwide survey of 32,282 college students, researchers at the Beijing-based Capital University of Economics and Business found that while 53.86 per cent had been in a romantic relationship, only 26.5 per cent were currently involved. Notably, about 25 per cent had neither dating experience nor interest in pursuing one. 'Many students are emotionally curious but deeply confused. They crave closeness yet fear vulnerability,' noted Zhang Xiaowen, who teaches Psychology of Love at WUT and draws on her dual roles as a psychology professor and long-time student counselor. Despite its title, Zhang's course focuses on fostering emotionally intelligent, healthy relationships – romantic or otherwise – through case studies and open in-class discussion. Students are encouraged to share their experiences and struggles in class and build friendships across genders, gaining new perspectives to move beyond self-centeredness. 'Of course, we are not here for dating tips from a textbook,' said Zou. He credits the course's interactive format with helping him clarify his thoughts, reduce relationship anxiety, and gradually find his emotional compass. Since its launch in 2012, Zhang's course has drawn overwhelming interest. Although capped at 130 students, over 1,500 attempt to enroll each semester, with some even sitting on the floor or standing in the back to attend. Across Chinese campuses, romance-themed electives are becoming unexpected hits. At Zhejiang Gongshang University, more than 1,600 students competed for 70 slots in a similar love psychology course. At Wuhan University, over 1,000 students signed up for a Positive Psychology course that only had 200 spaces. But not all such courses receive praise. At a Shanghai university, one love-related elective sparked backlash over what students perceived as outdated or gender-biased content. 'The last thing we want is to be preached at,' said a master's student surnamed Wen. 'We need tools to handle real-life emotional challenges, not romantic doctrine.' This sentiment underscores the importance of well-constructed, empathetic courses like WUT's Psychology of Love. Now listed as a national-level premium psychology course on China's massive open online course (MOOC) platform, it has reached well beyond the classroom, attracting over a million cumulative enrollments online. The popularity of love education runs alongside real societal concerns. Between 2013 and 2022, China's marriage registrations declined for nine consecutive years, according to the National Bureau of Statistics. After a brief rebound in 2023, the number dropped again in 2024. A 2025 survey by the Chinese Academy of Sciences (CAS) found that among 55,781 college students and 7,366 adults, those aged 18 to 24 showed lower levels of desire for romantic relationships, marriage, or parenthood. Cao Aihua, a sociology professor at Nankai University, noted that while many young people aren't opposed to love or marriage, they tend to prioritise academic and career development. 'They're pragmatic,' she said, 'and place greater value on personal feelings and fulfillment.' Zhang from WUT noted a critical shortfall in China's education system: 'We teach academic knowledge and professional skills, but we don't teach students how to be alone without feeling lonely, how to express emotions, or how to communicate in a relationship or family.' Chen Zhiyan, professor at the CAS Institute of Psychology, echoed that view. She suggests that topics related to marriage and family should be integrated into subjects like ethics, psychology, Chinese, and English throughout the entire education process, since 'all texts carry values and ideas'. But experts caution that classroom instruction alone isn't enough. 'The development of attitudes toward love and marriage is a complex, multifaceted process shaped by various influences,' said Zhang Jiangxing, director of the psychology center at Jinan University in Guangdong Province. Compared to family upbringing and societal factors, classroom education can play an important but limited supporting role, he argued. Still, even modest classroom interventions can make a difference. Student feedback suggests the message is getting through. One married learner taking the course of Psychology of Love on the MOOC platform wrote: 'I have been married for years, but this class made me realise how little I understood marriage. I have started listening more and arguing less.' Another posted, 'Love is beautiful. But the most important thing is learning how to love yourself.' For WUT student Zou, that insight rings true. He's still learning how to navigate the emotional landscape of young adulthood – but now with greater awareness. 'Dating is about finding someone you like and becoming a better version of yourself in the process,' he said. And marriage? Zou smiled. 'That's for the future. First, let's learn how to love.' – Xinhua China love romance Wuhan University of Technology Xinhua
New Indian Express
4 days ago
- Business
- New Indian Express
China mulls economy-boosting measures to counter 'severe situation'
BEIJING: China has a "plentiful" toolbox to avoid an economic slump in the second half of the year, its commerce minister said Friday as he admitted it faced a "very severe and complex situation". Growth hit 5.2 percent in the second quarter, official data showed Tuesday, but analysts have warned that more must be done to boost sluggish domestic consumption as exports face the knock-on effects of global trade turmoil. Retail sales rose far less than expected last month and were much weaker than May, suggesting efforts to kickstart consumption have fallen flat. "We are still facing a very severe and complex situation. Global changes are unstable and uncertain. Some of our policies will provide some new responses according to the times and circumstances," Wang Wentao told journalists at a news briefing. "Our toolbox is plentiful, and we will be fully prepared." Asked specifically about China's reliance on exports, Wang suggested the government was preparing policies to "further stimulate the momentum of our consumption development". "China's economy is improving, and the long-term fundamentals have not changed, the consumption market's characteristics of great potential, strong resilience and vitality have not changed," he said. Wang also namechecked Beijing-based toymaker Pop Mart, whose Labubu monster dolls have become a must-have item internationally, adorning the handbags of celebrities such as Rihanna and Dua Lipa. "We are also promoting new forms of consumption... for example Pop Mart, these kinds of new trends, new fashions and styles... the Labubu phenomenon has swept the world," he said.
