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CHONGQING, China, April 22, 2025 /PRNewswire/ -- A news report from iChongqing - On April 21, the Stories of the CPC: Achievements of Chongqing in Practicing Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era thematic briefing took place in Chongqing. Over 200 participants, including political leaders from more than 50 countries, foreign diplomats in China, and international business representatives, attended the event. The event explored Chongqing's role in Chinese-style modernization, addressing the question of what it truly looks like through featured activities like an Economic and Trade Promotion Meeting, Themed Dialogue Session, and a field visit to Minzhucun community. Foreign guests experienced Chongqing’s night views. (Photo/Visual Chongqing) At the thematic briefing, six CPC members living and working in Chongqing shared their stories of dedication, shedding light on the city's achievements in fields such as intelligent manufacturing, opening-up, urban governance, rural revitalization, and urban renewal. One key theme was the ongoing journey of openness, shared by Lyu Sixiang, a train driver from China Railway Chengdu Group's Chongqing Locomotive Depot. Anna Cordi from Germany was impressed that workers like train drivers and city staff could share their stories at a major event. She said the China Railway Express has reshaped global trade by connecting China and Europe. Julian Mordarski, Editor-in-Chief of Poland's Dziennik Trybuna, noted that the event deepened his understanding of smart cities. "Chongqing shows how a smart city really works," he said, adding that while Poland lacks similar technology, he sees future possibilities for collaboration with Chinese experts to build a smart city in Poland. In addition to the story sharing, the event featured expert views, including John Ross, Director of Economic and Business Policy for London's Mayor and Senior Fellow at Chongyang Institute for Financial Studies at Renmin University of China. Ross compared Chongqing with London, pointing out the differences in transportation systems and education. "While London and New York are major financial hubs, Chongqing is a global manufacturing powerhouse," he said. John also highlighted the need for Chongqing, like other major cities, to continue expanding internationally. He suggested that to effectively market a city, the promotion should be centered around its core strengths, with more localized efforts to build upon Chongqing's unique position. For more information, please visit: https://www.ichongqing.info/special/blaze-a-trail/#/super-city
BEIJING, April 17, 2025 /PRNewswire/ -- Beijing Review has recently published a government white paper titled China's Position on Some Issues Concerning China-US Economic and Trade Relations. While outlining China's vision for resolving tariff disputes through dialogue, the document highlights China's commitment to free trade. Edited excerpts follow: Since joining the World Trade Organization (WTO) in 2001, China has played an active role in economic globalization, launching a new phase in its reform and opening-up efforts. Committed to the principle of free trade, China has made its trade policies more stable, transparent, and predictable, substantially opened its markets, and made a positive contribution to upholding the effectiveness and authority of the multilateral trading system. China has comprehensively strengthened trade policy compliance. Following its accession, China launched major efforts to review and revise over 2,300 laws, regulations and departmental rules at central government level, and over 190,000 local regulations at sub-central government levels. These efforts spanned key areas such as trade, investment, and intellectual property protection, among others. Upon acceding to the WTO, China made extensive and substantial tariff reduction commitments. The Chinese government has honored its commitments, and all the tariff reduction commitments for goods were fulfilled by 2010. The overall tariff level was reduced from 15.3 percent in 2001 to 9.8 percent. In July 2023, with the eighth reduction in tariffs on products under the expanded Information Technology Agreement, China's overall tariff level saw a further drop to 7.3 percent. In 2024, China further announced that it would grant zero-tariff treatment for 100 percent tariff lines to all the least developed countries that have diplomatic relations with China. China is committed to establishing and improving a fiscal subsidy system in line with international practice, and promoting the transformation of industrial policies from differentiated and selective to inclusive and functional. The Chinese government prioritizes market-oriented and indirect guiding measures, such as public services, technical standards, and skills training to support areas of market failure, including technological research and innovation, the development of small and medium-sized enterprises, green energy efficiency, and the establishment of public service systems. The Chinese government has aligned itself with international rules through a series of systematic reforms and progressively optimized the business environment, providing a more transparent, fair, and predictable environment for global enterprises. China has continued to improve the business environment. In July 2017, the negative list management system for foreign investment was implemented nationwide. From 2017 to 2024, China reduced the number of items on the national negative list for foreign investment from 93 to 29, and all restrictions on foreign investment in the manufacturing sector were lifted. In 2022, China released the Guideline on Accelerating the Construction of a Unified National Market, explicitly requiring the comprehensive removal of preferential policies that discriminate against foreign-funded enterprises and enterprises from other regions, as well as those that enforce local protectionism. In June 2024, the State Council released the Regulations on Fair Competition Review, stipulating that policy measures shall not contain provisions affecting production and operational costs without prior authorization, which includes the prohibition of granting to specific operators tax preferences, special fiscal rewards or subsidies, or preferential treatment in terms of factor acquisition, administrative and public service charges, government-managed funds, and social insurance fees. China treats domestic and foreign-funded enterprises equally in taxation. In recent years, China has implemented orderly reforms of its tax system. It has optimized the tax structure and accelerated the implementation of the principle of statutory taxation, with the aim of capitalizing on taxation's crucial role in boosting high-quality development and promoting social fairness and justice. China is actively promoting the development of digital trade. China has established 12 national digital service export bases nationwide, and introduced policies and measures to support the innovative development of these bases. Since 2015, China has set up 165 cross-border e-commerce comprehensive pilot zones in 31 provincial-level administrative units, achieving integrated development of industrial digitalization and trade digitalization. In addition, China upholds law-based cyberspace governance and welcomes international internet companies to develop in China, provided they comply with China's laws and regulations and offer secure, reliable products and services. Comments to yanwei@cicgamericas.com
KUALA LUMPUR, Malaysia, April 15, 2025 /PRNewswire/ -- A report from Xinhuanet: Representatives of major media and think tanks from China and the 10 countries of the Association of Southeast Asian Nations (ASEAN) gathered in the Malaysian capital here on Friday for the China-ASEAN Media and Think Tank Forum to discuss and promote common development. Under the theme "Strengthening ASEAN-China Cooperation," participants called for joint efforts to tell the success stories of cooperation between China and ASEAN. In his opening speech, Malaysia's Deputy Prime Minister Fadillah Yusof reaffirmed his country's unwavering commitment to "a cohesive ASEAN-China partnership that will contribute to regional stability and global economic resilience." He spoke highly of the forum as an invaluable platform for the exchange of ideas among the media and think tanks, noting their pivotal role in bridging perspectives, informing policy and promoting regional harmony in this complex era. "Good neighbors wish each other well," Lyu Yansong, editor-in-chief of Xinhua News Agency, quoted Chinese President Xi Jinping as saying in his keynote remarks. It is the shared aspiration of the people of China and ASEAN countries to work together as partners and move forward together, he said. "China and ASEAN countries are vital forces in the Global South. China-ASEAN relations have, in recent years, transcended the bilateral sphere, gaining profound significance in Asia and exerting a global impact," said Lyu. He added that media and think tanks must amplify the call for jointly building a peaceful, safe and secure, prosperous, beautiful and amicable home and generate new momentum for building an even closer China-ASEAN community with a shared future. In his video remarks, Ouyang Yujing, Chinese ambassador to Malaysia, said President Xi's vision of building a community with a shared future for humankind offers a Chinese solution to addressing global challenges and creating a better future for humanity. "I hope our friends from the media and think tanks will actively share the stories of China-Malaysia and China-ASEAN cooperation, and contribute to the building of a community with a shared future for mankind," he said. Wong Chun Wai, chairman of Malaysian National News Agency (Bernama), said strengthening civilizational exchanges between ASEAN and China, which share a vibrant cultural landscape, would help set an example for unity and cooperation among Global South countries, and strengthen the connection and mutual respect among them. Wong also called for greater media and think tank cooperation between ASEAN and China in areas such as the use of artificial intelligence in mass media practices. During the forum, participants called on the media and think tanks of China and ASEAN to strengthen coordination, embrace the technological revolution, seize new opportunities and address emerging challenges in jointly striving for shared prosperity and development. Co-hosted by China's Xinhua News Agency and Bernama, the forum brought together approximately 260 representatives from more than 160 media outlets, think tanks, government agencies and enterprises across ASEAN countries and China. The Xinhua Institute, a think tank affiliated with Xinhua News Agency, presented a report titled "RCEP and the Vision of the Maritime Silk Road: New Frontiers for China-ASEAN Cooperation" at the forum.
NEW YORK, April 11, 2025 /PRNewswire/ -- The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today's NYSE Pre-market update for market insights before trading begins. NYSE Content Advisory: Pre-Market update + U.S. and E.U. to negotiate trade Kristen Scholer delivers the pre-market update on April 11th Stocks rose Friday as JP Morgan Chase (NYSE: JPM) exceeded earnings expectations. China raised tariffs on U.S. imports to 125% after the White House upped its tariffs to 145% on Chinese imports. Traders gave equities a boost after the European Union said its representatives will fly to Washington D.C. to "try and sign deals" Opening BellProject H.O.O.D highlights its efforts to build a Leadership & Economic Opportunity Center on the South Side of Chicago Closing BellYPF S.A. (NYSE: YPF) celebrates and introduces its new management team Download the NYSE TV App and Subscribe Here Video - https://mma.prnasia.com/media2/2662834/NYSE_Market_Update_April_11_2025.mp4
Margin expansion from Hua Zang LLM MaaS and AI hardware sets the stage for sustainable earnings growth SHANGHAI, April 9, 2025 /PRNewswire/ -- Xiao‑I Corporation (NASDAQ: AIXI), a global leader in artificial‑intelligence solutions, today pre‑announced selected, unaudited results for the year ended December 31, 2024. Driven by accelerating adoption of its Hua Zang large language model (LLM) as a Model‑as‑a‑Service (MaaS) offering and rising sales of AI‑powered consumer hardware, Xiao‑I generated approximately US$70.3 million in revenue, up 19 % year‑over‑year. Strong margin expansion enabled the Company to achieve positive operating income in the fourth quarter of 2024, establishing a profitable run‑rate as it enters 2025. Management now guides to full‑year profitability in 2025. Key Financial Highlights - Revenue: ~US$70.3 million in 2024, +19 % YoY. - Gross Margin: Improved to 69 % (vs. 67 % in 2023) on higher‑margin MaaS mix and scale efficiencies. - Net Loss: Narrowed to US$12.9 million, a 52 % improvement from 2023, reflecting disciplined cost control and revenue growth. - Run‑Rate Profitability: Positive operating income achieved in Q4 2024 positions the Company for sustained profitability. Management Commentary "A year ago we set out to prove that our technology platform could scale profitably," said a Company spokesperson. "By the fourth quarter of 2024 we crossed into operating profitability on a run‑rate basis, and the momentum in both Hua Zang MaaS deployments and AI hardware sales gives us confidence to guide for full‑year profitability in 2025. We will continue to focus on high‑margin, recurring revenue streams while prudently investing in innovation that deepens our competitive moat." Litigation Update – Additional Upside Potential As previously disclosed, Xiao‑I has sued Apple Inc. for alleged patent infringement related to voice‑assistant technologies. All hearings concluded in 2024, and the parties are awaiting a ruling from the Shanghai High People's Court. A favorable judgment could provide non‑operating upside to the Company's 2025 financial results; however, no potential award is included in current guidance. Disclaimer for the Projection and Guidance The projection is based on current business progress and assumes no material non-cash impairments or similar losses. However, given the heightened macroeconomic volatility in 2025, including potential trade policy shifts and demand fluctuations, management may adjust expectations in response to operational realities. Investors should remain cognizant of these risks impacting profit realization timelines. About Xiao-I Corporation Xiao-I Corporation is a leading cognitive intelligence enterprise in China that offers a diverse range of business solutions and services in artificial intelligence, covering natural language processing, voice and image recognition, machine learning, and affective computing. Since its inception in 2001, the Company has developed an extensive portfolio of cognitive intelligence technologies that are highly suitable and have been applied to a wide variety of business cases. Xiao-I powers its cognitive intelligence products and services with its cutting-edge, proprietary AI technologies to enable and promote industrial digitization, intelligent upgrading, and transformation. For more information, please visit: www.xiaoi.com. Forward-Looking Statements This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's ability to achieve its goals and strategies, the Company's future business development and plans for future business development, including its financial conditions and results of operations, product and service demand and acceptance, reputation and brand, the impact of competition and pricing, changes in technology, government regulations, fluctuations in general economic and business conditions in China, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission ("SEC"). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, including under the section entitled "Risk Factors" in its annual report on Form 20-F filed with the SEC on April 30, 2024, as well as its current reports on Form 6-K and other filings, all of which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. For investor and media inquiries, please contact:Ms. Berry XiaEmail: ir@xiaoi.com
NEW YORK, April 9, 2025 /PRNewswire/ -- The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today's NYSE Pre-market update for market insights before trading begins. Pre-Market update + NYSE-listed Delta Air Lines reports earnings Kristen Scholer delivers the pre-market update on April 9th Overnight, markets in Asia were mixed and European indexes trended downward following the S&P closing below 5000 for the first time in a year. This morning, in response to U.S. raising tariffs to 104% on Chinese imports, China announced an increase of its tariffs on U.S. goods to 84%. Delta Air Lines (NYSE:DAL) reported earnings today and noted it is too early to update its full-year guidance to the ongoing trade policy negotiations, but the airline still expects to be profitable for 2025. Opening BellMISTRAS Group, Inc. (NYSE: MG) to celebrate the launch of MISTRAS Data Solutions Closing BellTD SYNNEX (NYSE: SNX) in celebration of their 2025 Investor Day. Watch NYSE TV Live every weekday 9:00-10:00am ET Video - https://mma.prnasia.com/media2/2661019/NYSE_Market_Update_April_9_2025_v2.mp4
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