Latest news with #Liao
Daily News Egypt
2 days ago
- Business
- Daily News Egypt
SCO partnership supports Egypt's modernization, regional stability: Chinese ambassador
The Chinese Embassy in Cairo hosted a seminar on Sunday under the theme 'Development and Impact of the Shanghai Cooperation Organization (SCO): Upholding the Spirit of Shanghai Cooperation and Advancing China-Egypt Relations with Steady Steps.' Chinese Ambassador to Cairo Liao Liqiang spoke about the SCO's evolution and its growing relevance for Egypt, emphasising China's commitment to strengthening cooperation between the organization and the Egyptian government. Founded in 2001 in Shanghai by China, Russia, Uzbekistan and other countries, the SCO has expanded from six founding members to ten, alongside observer states and partner countries. Liao highlighted that the organization is now the world's largest comprehensive regional body in terms of member states' population, land area and geographic reach—spanning Asia, Europe and Africa. The ambassador noted that Egypt became a dialogue partner of the SCO in 2022, enabling it to participate in all related dialogues and initiatives. 'The organization strives for justice and fairness—principles clearly reflected in its charter, which emphasises respect for different civilizations, shared development, dialogue, sovereignty, and resolving disputes through consultation,' he said. He added that the SCO promotes mutual benefit and regional security through confidence-building measures among member states, covering areas such as security, defence, border protection, intelligence cooperation, and countering terrorism, separatism and extremism. 'We want to strengthen cooperation with Egypt in combating terrorism,' Liao stated, underlining that the organization also supports economic growth both for its members and globally. Such cooperation, he noted, contributes to Egypt's modernization process, creates economic opportunities, and fosters dialogue between Egypt and other countries, aligning with the aspirations of the Egyptian people. This year, the SCO has prioritised sustainable development, and will hold a major summit from late August to early September expected to attract a wide range of global participants. The summit aims to enhance mutual political trust, increase trade exchanges, and boost the efficiency of cooperation mechanisms. Egypt's accession as a dialogue partner also reflects the organization's expansion into Africa and its commitment to deeper cooperation with the continent. Highlighting recent diplomatic milestones, Liao described the visit of Chinese Premier Li Qiang to Egypt as 'historic and highly significant.' It was the first visit by a Chinese premier to Egypt in 16 years and Premier Li's first stop on his inaugural trip to Africa. The ambassador said the visit demonstrates the keen interest of Chinese President Xi Jinping and the Chinese government in strengthening ties with Egypt. During his visit, Premier Li held discussions and exchanged views with Egyptian Prime Minister Mostafa Madbouly, which Liao said further reinforced the partnership between the two countries, especially given the current regional and global context.
Straits Times
4 days ago
- Business
- Straits Times
China defends growth model, plans consumption as greater driver
Find out what's new on ST website and app. Consumption has driven an average of 56.2 per cent of China's growth gains over the past four years. DURBAN, South Africa – China's trade with the world is within reasonable bounds, and the nation is not out to dominate global markets, a senior official has said, pointing to figures showing domestic consumption is driving economic growth. 'Most of China's production is intended to meet domestic demand,' Finance Vice-Minister Liao Min said in an interview on July 18 near Durban, South Africa, where he was attending a gathering of Group of 20 (G-20) policymakers . 'When there's demand from abroad, China exports accordingly. This does not mean, however, that China is trying to dominate every market,' he said. Mr Liao also hailed the latest Chinese GDP growth figures as helping to contribute to the world economy at a decisive moment. Economists have marked down their projections for global growth in 2025 due to the onslaught of tariff increases by US President Donald Trump. Figures this week showed China's expansion at 5.3 per cent for the first half of 2025 , 'in line with expectations,' Mr Liao said. 'China's certainty and stability are the greatest contributions it makes to the world today because what the global economy needs most right now is stability and certainty,' Mr Liao said. 'We are steadily advancing toward an economic model driven by consumption, while at the same time maintaining a relatively balanced foreign trade.' The latest China GDP figures showed exports supported growth in the most recent quarter. Top stories Swipe. Select. Stay informed. Singapore Bukit Panjang LRT disruption: Train service resumes after power fault affects 13-station line Asia Autogate glitch causes chaos at KLIA and Johor checkpoints, foreign passport holders affected Singapore A deadly cocktail: Easy access, lax attitudes driving Kpod scourge in S'pore Singapore 'I thought it was an April Fool's joke': Teen addicted to Kpods on news that friend died Singapore Who decides when you can't? A guide on planning for end-of-life care Singapore S'pore sees no baby boom in Year of the Dragon despite slight rise in births in 2024 Singapore New auto pet wash service in Buona Vista draws flak, but company stands by its safety Singapore 314 suicides reported in Singapore in 2024, remains leading cause of youth deaths The country logged a goods-trade surplus of about US$586 billion (S$752 billion) in the first half of 2025, due in part to exporters front-loading shipments on tariff fears. While export momentum is expected to cool in the coming months, some economists still see a record full-year surplus above US$1 trillion. Mr Liao said that, over the past four years, consumption has driven an average of 56.2 per cent of China's GDP gains. That was 8.6 percentage points higher than during the 2016-2020 period, he said. Domestic demand, as a whole, accounted for 86.4 per cent of China's growth, he said. He also said China's current account surplus – the broadest measure of trade, as it includes services and some financial transactions – was about 2.2 per cent in 2024, a level 'recognised globally as reasonable' and indicating the share of its shipments worldwide is 'not excessively high'. China's critics have used other metrics. A top US Treasury official cited figures in 2024 showing China's manufacturing-goods trade surplus approaching 2 per cent of world GDP, roughly twice the share of Japan's in the early 1990s. Current Treasury Secretary Scott Bessent has repeatedly called China ' the most imbalanced economy in the history of the world'. Speaking at a congressional hearing in June, Mr Bessent charged Beijing with 'trying to export their way out' of the nation's domestic real estate slump. Mr Liao's comments come ahead of an expected fresh round of trade talks with the United States in the coming weeks. He did not offer any specific comment on Mr Bessent's criticism. Mr Liao has been a key member of China's team of negotiators that reached a trade-war truce with their American counterparts in Geneva, and again in London, earlier in 2025. Consumption aid Mr Liao also said looking at a particular sector can give a flawed perspective of China's trade. 'Just because China holds a large market share in certain products doesn't mean it should be accused of overcapacity,' he said. 'Such claims are oversimplifications and fail to capture the full reality.' The huge uncertainty surrounding Mr Trump's levies on Chinese goods has added urgency in Beijing to shift its growth toward domestic consumption. The government has doubled the amount of ultra-long special sovereign bond issuance, aimed at subsidising consumer purchases of electronic products, home appliances and cars. That took the total to 300 billion yuan (S$54 billion). More than half of the allowance was used in the first half, incentivising sales of about 10 times that amount. For the longer term, the authorities will seek to expand service industries and promote the green and digital sectors, with a goal of propelling economic transformation, beefing up consumer spending power as jobs and incomes rise, Mr Liao said. Meanwhile, the government will continue strengthening social safety nets, including pensions to ensure stable growth in consumer spending over the long run, he said. BLOOMBERG
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Business Standard
4 days ago
- Business
- Business Standard
China defends growth model, eyes consumption as key economic driver
China's trade with the world is within reasonable bounds and the nation isn't out to dominate global markets, a senior official said, pointing to figures showing domestic consumption is driving economic growth. 'Most of China's production is intended to meet domestic demand,' Vice Finance Minister Liao Min said in an interview Friday near Durban, South Africa, where he was attending a gathering of Group of 20 policymakers. 'When there's demand from abroad, China exports accordingly. This does not mean, however, that China is trying to dominate every market.' Liao also hailed the latest Chinese GDP growth figures as helping to contribute to the world economy at a decisive moment. Economists have marked down their projections for global growth this year due to the onslaught of tariff increases by President Donald Trump. Figures this week showed China's expansion at 5.3 per cent for the first half of the year — 'in line with expectations,' Liao said. 'China's certainty and stability are the greatest contributions it makes to the world today, because what the global economy needs most right now is stability and certainty,' Liao said. 'We are steadily advancing toward an economic model driven by consumption, while at the same time maintaining a relatively balanced foreign trade.' The latest China GDP figures showed exports supported growth in the most recent quarter. The country logged a goods-trade surplus of about $586 billion in the first half of the year — due in part to exporters front-loading shipments on tariff fears. While export momentum is expected to cool in coming months, some economists still see a record full-year surplus above $1 trillion. Liao highlighted that, over the past four years, consumption has driven an average of 56.2 per cent of China's GDP gains. That's 8.6 per cent higher than during 2016-2020 period, he said. Domestic demand as a whole accounted for 86.4 per cent of China's growth, the vice minister said. He also said China's current-account surplus — the broadest measure of trade, as it includes services and some financial transactions — was about 2.2 per cent last year, a level 'recognized globally as reasonable' and indicating the share of its shipments worldwide is 'not excessively high.' China's critics have used other metrics. A top US Treasury official last year cited figures showing China's manufacturing-goods trade surplus approaching 2 per cent of world GDP, roughly twice the share of Japan's in the early 1990s. Current Treasury Secretary Scott Bessent has repeatedly called China 'the most imbalanced economy in the history of the world.' Speaking at a congressional hearing last month, Bessent charged Beijing with 'trying to export their way out' of the nation's domestic real estate slump. Liao's comments come ahead of an expected fresh round of trade talks with the US in the coming weeks. He didn't offer any specific comment on Bessent's criticism in the interview Friday. The vice finance chief has been a key member of the country's team of negotiators that reached a trade-war truce with their American counterparts in Geneva, and again in London, earlier this year. Consumption Aid Liao also said that looking at a particular sector can give a flawed perspective of China's trade. 'Just because China holds a large market share in certain products doesn't mean it should be accused of overcapacity,' he said. 'Such claims are oversimplifications and fail to capture the full reality.' The huge uncertainty surrounding Trump's levies on Chinese goods has added urgency in Beijing to shift its growth toward domestic consumption. The government doubled the amount of ultra-long special sovereign bond issuance this year, aimed at subsidizing consumer purchases of electronic products, home appliances and cars. That took the total to 300 billion yuan ($41.8 billion). More than half of the allowance was used in the first half, incentivizing sales of about 10 times that amount. For the longer term, the authorities will seek to expand service industries and promote the green and digital sectors, with a goal of propelling economic transformation — beefing up consumer spending power as jobs and incomes rise, Liao said. Meanwhile, the government will continue strengthening social safety nets, including pensions to ensure stable growth in consumer spending over the long run, he said. Liao spoke with Bloomberg after the conclusion of the G-20 meeting of finance ministers and central bank chiefs that resulted in a joint communique. He hailed the adoption of that statement, saying it showcased the effectiveness of the group's finance track, despite different viewpoints. G-20 Communique Delivers Rare Show of Unity 'It sends a strong message that countries are committed to better communication, closer coordination and working together in a spirit of unity,' Liao said, adding that China will continue to support multilateralism and the G-20. 'The G-20 itself was created as a platform for the international community to respond to crises. At a time when the global economy is facing so much uncertainty and so many challenges, the G-20 should play an even greater role,' Liao said.
News18
14-07-2025
- Entertainment
- News18
Someone Put Matcha In Fried Rice, And The Internet Is ‘Calling The Cops'
Last Updated: Singaporean content creator, Calvin Lee, mixed matcha powder to a pan fried rice and gave his honest review. There was a time when matcha was something you would only hear about from a friend who had been to Japan. But not anymore. The green tea powder has made its way into our kitchens and obviously on the Internet. From lattes to ice creams, matcha is now a global obsession. But now someone went ahead and tossed it into fried rice. Yes, that actually happened. The video was shared on Instagram by Singaporean content creator Calvin Lee. It shows him mixing matcha in a pan of fried rice. Then come the other ingredients such as eggs, garlic, soy sauce, a bit of wasabi, miso and chopped spring onions. Everything is tossed together in a pan. Within seconds, the rice turns green. It definitely looks striking. But looks can be deceiving. The caption shared along with the video reads, 'Matcha fried rice, sigh." Watch the video here: Since it was posted, the video has garnered nearly one million views, and, as expected, the comments section is buzzing. One user commented, 'I'll call the police and ambulance." Someone else thought the idea had potential and wrote, 'I think this works." 'Brawwww, I have the same matcha and was thinking of cooking matcha fried rice last week," another person added. 'Not the kind of greens I imagined for rice," a viewer remarked while another said, 'This is illegal." An individual simply asked, 'Why?" Meanwhile, a user offered some practical advice, saying, 'Too much matcha Liao… You need to pair something sweet and sour, maybe." But that's not all. In another video, Calvin took things up a notch by mixing matcha powder into scrambled eggs. While the fried rice didn't quite pass the vibe check, this one was somewhat better. As he described it, 'Match egg" was 'very earthy, grassy and slightly bitter." top videos View all And if you scroll through his Instagram grid, there's more. He also added matcha powder to a cup of noodles. This one got a solid thumbs up. 'The matcha adds a nice bitter, earthy note to savoury broth, which balances out the saltiness," he said in his review. Would you try any of these? About the Author Buzz Staff A team of writers at bring you stories on what's creating the buzz on the Internet while exploring science, cricket, tech, gender, Bollywood, and culture. Location : Delhi, India, India First Published: July 14, 2025, 12:52 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Business Insider
09-07-2025
- Business
- Business Insider
Jefferies Remains a Hold on Yihai International Holding Ltd. (1579)
In a report released today, Lisa Liao from Jefferies maintained a Hold rating on Yihai International Holding Ltd., with a price target of HK$14.80. The company's shares closed today at HK$13.62. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Liao is an analyst with an average return of -6.2% and a 37.50% success rate. Yihai International Holding Ltd. has an analyst consensus of Hold. Based on Yihai International Holding Ltd.'s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of HK$3.61 billion and a net profit of HK$431.15 million. In comparison, last year the company earned a revenue of HK$3.53 billion and had a net profit of HK$494.87 million
