Latest news with #MinistryofCommerce
The Star
3 hours ago
- Business
- The Star
China's consumer goods trade-in programme spurs about US$153.1bil in sales
A consumer (right) learns about trade-in plans for home appliances at a store in Chongqing in July 2024. - Photo for China Daily BEIJING: China's consumer goods trade-in programme has generated 1.1 trillion yuan (about US$153.1 billion) in sales in the first five months this year, the Ministry of Commerce said on Sunday (June 1). As of Saturday, nationwide trade-ins had fueled a surge in transactions, including 4.12 million vehicles, 77.62 million units of household appliances and 56.63 million units of digital products -- such as mobile phones, among others, data from the ministry showed. The programme, part of China's broader efforts to spur domestic demand, has boosted a sustained recovery in the country's consumer spending, according to the ministry. In the government work report released in March 2025, boosting consumption was listed as a top priority among this year's tasks. Retail sales of consumer goods, a major indicator of the country's consumption strength, rose 4.7 per cent year-on-year in the first four months of 2025, accelerating from the 4.6-per cent growth recorded in the first quarter of the year, official data revealed. - Xinhua/ANN
Observer
16 hours ago
- Business
- Observer
HM's greetings conveyed to President of Kazakhstan
ALMATY: President Kassym-Jomart Tokayev of the Republic of Kazakhstan, received Sultan bin Salim al Habsi, Minister of Finance and his accompanying delegation, as part of his official visit to the Republic of Kazakhstan. During the meeting, the minister conveyed the greetings of His Majesty Sultan Haitham bin Tarik along with his best wishes to the president and further progress and prosperity for Kazakh people. During the visit, an agreement was signed on double taxation and the prevention of fiscal evasion with respect to taxes on income and capital between the two sides. Investment opportunities were also discussed to increase trade volume in the fields of logistics, mining and food security. Aspects of cooperation in the financial sector were also discussed, as well as investment cooperation related to the oil sector with the Kazakh side. This visit comes within the framework of enhancing cooperation between the Sultanate of Oman and the Republic of Kazakhstan, with the aim of fostering bilateral relations in the economic, financial and investment fields. The minister of finance accompanied a delegation comprising several officials from the Ministry of Commerce, Industry and Investment Promotion, the Tax Authority and the Oman Investment Authority, to discuss areas of cooperation and enhance relations between the Sultanate of Oman and the Republic of Kazakhstan. — ONA
The Sun
2 days ago
- Entertainment
- The Sun
DITP Showcases Thai Culinary Excellence with 'Thai SELECT Royal Gala Night'
BANGKOK, THAILAND - Media OutReach Newswire - 30 May 2025 - Her Royal Highness Princess Ubolratana Rajakanya Sirivadhana Barnavadi graciously presided over the 'Thai SELECT Royal Gala Night.' The prestigious event, designed to spotlight Thai cuisine and the trusted Thai SELECT label on the global stage, celebrated the distinctive allure and tastes of Thai food, an integral part of the nation's rich cultural tapestry. Held under the theme 'THE FIVE SPIRITS OF THAI TASTE,' the gala provided an unparalleled culinary journey. The Department of International Trade Promotion (DITP), under the Ministry of Commerce, organized the event on Wednesday, May 28, 2025, at the Mandarin Oriental Hotel in Bangkok. Her Royal Highness delivered the opening remarks, warmly welcoming the distinguished guests. The gala dinner featured an exquisite five-course meal, each course representing one of 'THE FIVE SPIRITS OF THAI TASTE,' masterfully interpreted by acclaimed chefs associated with the Thai SELECT initiative: · (1) The Awakening Spirit (sour) presented by BLUE ELEPHANT · (2) The Grounded Spirit (salty) presented by Amdang Typhoon Group · (3) The Fiery Spirit (spicy) presented by Royal Osha · (4) The Soulful Spirit (creamy) presented by R-HAAN · (5) The Nostalgic Spirit (sweet) presented by The Artisans Ayutthaya Adding to the evening's significance was the participation of Ethan Bernath, a globally recognized American chef, writer, and content creator known for shaping global culinary narratives. He engaged in a compelling dialogue with Thailand's leading chefs, exploring the authentic essence of Thai flavors. Thai SELECT is a prestigious certification awarded by the Ministry of Commerce to outstanding Thai restaurants, both within Thailand and internationally, as well as to high-quality ready-to-eat Thai food products. This mark of excellence signifies adherence to authentic flavors and traditional cooking techniques, fostering a worldwide appreciation for genuine Thai cuisine. As a vital component of Thailand's soft power, Thai food acts as a cultural envoy while driving business and economic prosperity. Mr. Pichai Naripthaphan, Minister of Commerce, stated, '...Today, Thai SELECT has emerged as a trusted global symbol and a vital instrument in advancing Thailand's soft power. Recently, the Ministry of Commerce has refreshed the image and upgraded the criteria for awarding the Thai SELECT label to four levels marked with a star symbol, comparable to Michelin stars, to better reflect international standards, authentic Thai flavors, and the rich cultural experience. This ensures that both domestic and international consumers can easily recognize and appreciate Thai cuisine, fostering its lasting acceptance on the global stage...' Reflecting on the gala, Chef Ethan Bernath remarked, 'Tonight's event beautifully captured the essence of Thai cuisine, not only in taste but also in culture. Every element brings out the depth of wisdom and passion from its creators. I'm glad that we now have the Thai SELECT symbol, which assures consumers and guarantees that Thai restaurants and food products around the world uphold high standards while preserving the authentic flavors of Thailand..' The Ministry of Commerce remains committed to elevating the global standing of the Thai SELECT program, including the introduction of the 'Orchid Star of Honor' emblem, a mark of the highest refinement in Thai culinary arts. Restaurants are now categorized under four tiers: Thai SELECT 3 Stars, Thai SELECT 2 Stars, Thai SELECT 1 Star, and Thai SELECT Casual. Currently, there are over 18,800 Thai restaurants globally, with more than 1,800 holding the Thai SELECT certification. Furthermore, over 900 ready-to-eat Thai food products from more than 100 companies bear the Thai SELECT label. These accomplishments underscore the potent role of Thai cuisine in showcasing Thailand and its vibrant culture to the world.
NBC News
2 days ago
- Business
- NBC News
U.S.-China talks ‘a bit stalled' and need Trump and Xi to weigh in, Treasury Secretary Bessent says
BEIJING — U.S.-China trade talks 'are a bit stalled,' requiring the two countries' leaders to speak directly, Treasury Secretary Scott Bessent told Fox News in an interview Thursday local time. 'I believe that we will be having more talks with them in the next few weeks,' he said, adding that there may be a call between the two countries' leaders 'at some point.' After a rapid escalation in trade tensions last month, Bessent helped the world's two largest economies reach a breakthrough agreement in Switzerland on May 12. The countries agreed to roll back recent tariff increases of more than 100% for 90 days, or until mid-August. Diplomatic officials from both sides had a call late last week. Still, the U.S. has pushed ahead with tech restrictions on Beijing, drawing its ire, while China has yet to significantly ease restrictions on rare earths, contrary to Washington's expectations. 'I think that given the magnitude of the talks, given the complexity, that this is going to require both leaders to weigh in with each other,' Bessent said. 'They have a very good relationship and I am confident that the Chinese will come to the table when President [Donald] Trump makes his [preferences] known.' Trump and Chinese President Xi Jinping last spoke in January, just before the U.S. president was sworn in for his second term. While Trump has in recent weeks said he would like to speak with Xi, analysts expect China to agree to that only if there is certainty that there will be no surprises from the U.S. during the call. China has maintained communication with the U.S. since the agreement in Switzerland, Chinese Ministry of Commerce Spokesperson He Yongqian told reporters at a regular briefing Thursday. But regarding chip export controls, she said that 'China again urges the U.S. to immediately correct its wrong practices ... and together safeguard the consensus reached at high-level talks in Geneva.' That's according to a CNBC translation of her Mandarin-language remarks. When asked whether China would suspend rare earths export controls announced in early April, He did not respond directly. Restrictions on items that could have both military and civilian applications reflect international practice, as well as China's position of 'upholding world peace and regional stability,' she said. This week, the Trump administration also announced it would start revoking visas for Chinese students. 'The U.S. decision to revoke Chinese student visas is fully unjustified,' Chinese Foreign Ministry spokesperson Mao Ning said Thursday, according to an official English transcript. 'It uses ideology and national security as pretext.'
CNBC
2 days ago
- Business
- CNBC
U.S.-China talks 'a bit stalled' and need Trump and Xi to weigh in, Treasury Secretary Bessent says
BEIJING — U.S.-China trade talks "are a bit stalled," requiring the two countries' leaders to speak directly, Treasury Secretary Scott Bessent told Fox News in an interview Thursday local time. "I believe that we will be having more talks with them in the next few weeks," he said, adding that there may be a call between the two countries' leaders "at some point." After a rapid escalation in trade tensions last month, Bessent helped the world's two largest economies reach a breakthrough agreement in Switzerland on May 12. The countries agreed to roll back recent tariff increases of more than 100% for 90 days, or until mid-August. Diplomatic officials from both sides had a call late last week. Still, the U.S. has pushed ahead with tech restrictions on Beijing, drawing its ire, while China has yet to significantly ease restrictions on rare earths, contrary to Washington's expectations. "I think that given the magnitude of the talks, given the complexity, that this is going to require both leaders to weigh in with each other," Bessent said. "They have a very good relationship and I am confident that the Chinese will come to the table when President [Donald] Trump makes his [preferences] known." Trump and China's President Xi Jinping last spoke in January, just before the U.S. president was sworn in for his second term. While Trump has in recent weeks said he would like to speak with Xi, analysts expect China to agree to that only if there's certainty there will be no surprises from the U.S. during the call. China has maintained communication with the U.S. since the agreement in Switzerland, Chinese Ministry of Commerce Spokesperson He Yongqian told reporters at a regular briefing Thursday. But regarding chip export controls, she said that "China again urges the U.S. to immediately correct its wrong practices ... and together safeguard the consensus reached at high-level talks in Geneva." That's according to a CNBC translation of her Mandarin-language remarks. When asked whether China would suspend rare earths' export controls announced in early April, He did not respond directly. Restrictions on items that could be used for both military and civilian use reflect international practice, as well as China's position of "upholding world peace and regional stability," she said. This week, the Trump administration also announced it would start revoking visas for Chinese students. "The U.S. decision to revoke Chinese student visas is fully unjustified," China's Foreign Ministry Spokesperson Mao Ning said Thursday, according to an official English transcript. "It uses ideology and national security as pretext."
