Author: xjadmin

On May 5th, the Chinese Embassy in the United States held an open day and promotion event for Gansu Province on May 3rd. Ambassador Xie Feng attended and delivered a speech. Xie Feng pointed out that the history of human social development tells us that openness brings progress, while closure inevitably leads to backwardness. Economic globalization has converged from a small stream into a rolling wave, and the complementary advantages of various countries are an objective requirement for the development of productive forces. Economic and trade relations are not a zero sum game, and trade barriers are like drawing a knife to cut off water. The United States has benefited greatly from international trade, enjoying both high-quality and affordable goods from around the world, as well as significant advantages in high value-added fields such as finance, technology, and services. In 2022 alone, the sales revenue of US funded enterprises in China exceeded that of Chinese funded enterprises by over 400 billion US dollars. The overall economic and trade cooperation between China and the United States is balanced and win-win. The indiscriminate imposition of tariffs harms others and oneself, interferes with the normal production and operation of enterprises and the daily consumption of the people, triggers severe fluctuations in the global financial market, and undermines the long-term stable growth of the world economy. We don’t want to engage in a tariff war, but we’re not afraid of it. We firmly uphold not only our own legitimate rights and interests, but also the international economic and trade order. If the US is prepared to negotiate, it should adopt an attitude of equality, respect, and reciprocity. Xie Feng emphasized that no matter how the international situation changes, China will continue to respond to external uncertainties with certainty of high-quality development and high-level openness. China is the second largest consumer market in the world, with the largest middle-income group, and has become a major trading partner for over 150 countries and regions. Last year, more than 80000 cars were taken offline every day, 3.4 million smartphones were manufactured, and over 470 million parcels of express delivery were in transit. The Chinese economy had a good start in the first quarter of this year, with a year-on-year GDP growth of 5.4% and a counter trend export growth of 6.9%. The international market circle of friends is becoming larger and larger.

On May 5th, the Central Meteorological Observatory continued to issue a blue warning for strong winds at 06:00 on May 5th. It is expected that from 08:00 on May 5th to 08:00 on May 6th, there will be winds of 5-7 levels with gusts of 8-10 levels in central and western Inner Mongolia, eastern Qinghai, Hexi in Gansu, Ningxia, northern Shaanxi, Shanxi, northern Henan, northern Anhui, Shandong Peninsula, northern Jiangsu and other areas; There will be winds of 7-8 levels and gusts of 9-10 levels in the southern waters of the Yellow Sea and the northern waters of the East China Sea.

On May 5th at 06:00, the Central Meteorological Observatory continued to issue a blue warning for sandstorms: affected by cold air and strong winds, it is expected that from 08:00 on May 5th to 08:00 on May 6th, some areas in the southern Xinjiang Basin, central and western Inner Mongolia, northern Gansu, Ningxia, central and northern Shaanxi, central and southern Shanxi, central and northern Henan, southern Hebei, western Shandong, northern Anhui, and northwestern Jiangsu will experience sandstorms or floating dust weather. Among them, some areas in western Inner Mongolia, western Gansu, northern Ningxia, and northwestern Shaanxi will have sandstorms.

On May 5, the Central Meteorological Station continued to issue a blue rainstorm warning at 06:00 on May 5: It is expected that from 08:00 on May 5 to 08:00 on June 6, heavy rain will occur in parts of the northern Shandong Peninsula, southwest Sichuan Basin, northwest Guizhou, southern Hunan, southern and eastern Jiangxi, northwest Fujian, western and northern Guangxi, northern Guangdong and southern coastal areas, among which, rainstorm (50~90mm) will occur in parts of western Guangxi and northern Guangdong. The above-mentioned areas are accompanied by short-term heavy rainfall (maximum hourly rainfall of 20-50 millimeters, locally exceeding 70 millimeters), and locally have strong convective weather such as thunderstorms and strong winds.

On May 5th, according to the official website of the Ministry of Finance, the 28th ASEAN+3 Finance Ministers and Central Bank Governors Meeting was held in Milan, Italy on May 4th, 2025. The meeting mainly discussed issues such as the global and regional macroeconomic situation, 10+3 regional financial cooperation, and issued a joint statement. Minister of Finance Lan Fo’an attended and co chaired some of the meeting topics, accompanied by Vice Minister Liao Min. Lan Fo’an stated that the current global economic landscape is undergoing profound adjustments, globalization is facing headwinds, unilateralism and protectionism are on the rise, and unstable and uncertain factors are significantly increasing. The 10+3 regional economy demonstrates strong resilience and has significant growth potential, but also faces complex and severe internal and external challenges. All parties should firmly implement the consensus of the 10+3 Leaders’ Meeting, adhere to multilateralism and free trade, strengthen macro policy communication and coordination, deepen intra regional trade and investment cooperation, maintain stable and smooth supply chains, and make greater contributions to regional economic and financial stability and integration processes. Lan Fo’an stated that the Central Conference on Neighborhood Work held by China in early April proposed to consolidate strategic mutual trust with neighboring countries, deepen development integration, and work together to create a better future. China is willing to work with the 10+3 parties to adhere to openness, inclusiveness, solidarity and cooperation, continuously deepen regional financial cooperation, and respond to the instability and uncertainty of the world with the stability and certainty of our region. On behalf of the Chinese side, Lan Fo’an announced an additional donation of 4 million US dollars to the China Technical Assistance Trust Fund of the 10+3 Macroeconomic Research Office (AMRO), and witnessed the signing ceremony of the donation to further support regional members in strengthening macroeconomic monitoring and maintaining financial stability capacity building. The meeting supported the update of the 10+3 financial cooperation strategic direction, agreed to launch technical assistance tools focusing on medium and long-term structural issues, affirmed the progress of the Chiang Mai Initiative’s multilateral financing model discussion, welcomed the smooth transition of AMRO executives, the successful expansion of the 10+3 financial intelligence bank network, the deepening development of the regional local currency bond market, and approved the concept document of the future roadmap for disaster risk financing initiative. Prior to the meeting, Lan Fo’an also presided over the finance ministers and central bank governors’ meeting of China, Japan, and South Korea, as well as the first 10+3 finance ministers’ closed door exchange meeting. During the 10+3 finance ministers’ closed door exchange meeting, he highlighted China’s fiscal policy in effectively balancing the relationship between promoting economic growth and maintaining long-term fiscal sustainability, and addressing the challenges of population aging. During the conference, Lan Foan held bilateral meetings or exchanges with Malaysian Finance Minister Amir Hamza, Indonesian Finance Minister Injaya, Japanese Finance Minister Katsuyuki Kato, and others, mainly exchanging views on the global and regional macroeconomic situation, 10+3 financial channel cooperation, and key issues of bilateral cooperation. Vice Minister Liao Min accompanied the attendance.

On May 5th, Western Pacific Bank reported a net profit of AUD 3.32 billion in the first half of the year, with an estimated AUD 3.32 billion; Mid term dividend of AUD 0.76 per share, estimated at AUD 0.78; In the first half of the year, the Tier 1 capital adequacy ratio of common stocks was 12.2%, with an estimated 11.9%; The return on equity for the first half of the year was 9.42%.

On May 5th, US President Trump reiterated in an interview with American media on May 4th that he wants Canada to become the “51st state” of the United States and said he will “always talk about this matter”. Trump said, “We provide up to $200 billion in subsidies to Canada every year.” When asked if he would consider using force to annex Canada, Trump said, “We will never get to that point. Canadian Prime Minister Carney will meet with Trump at the White House on the 6th for a comprehensive discussion on tariffs and broader Canada US relations.

On the evening of May 4th local time, Yahya Sareya, spokesperson for the Houthi armed forces in Yemen, issued a statement stating that Israel has decided to expand its military operations in the Gaza Strip. The Houthis have decided to impose a comprehensive air blockade on Israel and continue to attack Israeli airports, represented by Ben Gurion International Airport. At the same time, the Houthis also called on airlines around the world to seriously consider canceling flights to Israel after this statement is released, in order to ensure the safety of aircraft and passengers.

On May 5th, records from a briefing between the US Department of Agriculture and congressional staff showed that over 15000 US Department of Agriculture employees received a voluntary resignation incentive plan from the Trump administration, accounting for approximately 15% of the total workforce of the US Department of Agriculture. Previously, in order to reduce the size of the federal workforce, the Trump administration had provided several months of salary and benefits to federal employees who chose to resign.