Podcasts about national development

China's sharpened focus on cultivating strategic emerging industries during the 15th Five-Year Plan (2026-30) period will give fresh vitality to nurturing new quality productive forces and help the country better navigate external uncertainties while maintaining its edge amid global competition, said officials, experts and company executives.Their comments came as China plans to make more efforts to accelerate the development of emerging sectors such as new energy, new materials, aerospace and the low-altitude economy during the 15th Five-Year Plan period, according to the recently unveiled Recommendations of the Central Committee of the Communist Party of China for Formulating the 15th Five-Year Plan for National Economic and Social Development.President Xi Jinping said the recommendations were initiated in line with the country's strategic development goals, recognizing the pivotal role of the next five years, and based on an in-depth analysis of both the domestic and global landscapes.Xi, who is also general secretary of the CPC Central Committee, said, "It is important that we seize this window of opportunity to consolidate and build on our strengths, remove development bottlenecks, shore up areas of weakness, seize the strategic initiative amid intense international competition, and secure major breakthroughs in strategic tasks of overall importance to Chinese modernization."The remarks were made in Xi's explanatory speech on the recommendations for formulating the 15th Five-Year Plan, delivered at the fourth plenary session of the 20th CPC Central Committee, which concluded in Beijing in late October.Yao Jun, head of the department of planning at the Ministry of Industry and Information Technology, said that "President Xi's speech is grounded in reality and forward-looking, and it has pointed the way forward for us in all our endeavors".According to Yao, the achievements during the 14th Five-Year Plan (2021-25) period have laid a solid foundation, and the strategic tasks proposed going forward are comprehensive and well-focused.Yao said, "We will anchor our work on developing new quality productive forces, driven by the deep integration of technological and industrial innovation."He added that the focus will be on intelligent, green and integrated development, moving manufacturing from scale expansion to value creation.Zhu Min, former deputy managing director of the International Monetary Fund, said the distinctive strength of China's economy lies in its strong real economy and industrial system."As China's technological capabilities continue to grow, the key challenge — and opportunity — is to effectively integrate these advancements to cultivate new industries driven by new quality productive forces. That's central to China's future economic trajectory," he said.Zhu also said such a trend is already mirrored in China's emphasis on strategic emerging industries such as new energy and the low-altitude economy. These sectors are poised for significant growth, built upon the robust momentum of China's "three new" economies — new industries, new business forms and new models — which already contributed over 18 percent to the country's GDP as of 2024, according to the National Development and Reform Commission.Zhu Keli, founding dean of the China Institute of New Economy, said, "China's goal of nurturing these frontier sectors not only reflects confidence in our own industrial capabilities but, more critically, serves as a key measure to seize the initiative in global sci-tech industrial competition."China has been the world's largest manufacturing country in terms of output for 15 consecutive years, and it ranks first globally in the output of over 220 industrial products, according to the Ministry of Industry and Information Technology."Boasting such a complete industrial system, China provides rich application scenarios and enormous market potential for technological innovation, as well as solid support for the development of new industries," Zhu added.According to Zhu, emerging pillar industries, represented by the low-altitude economy, are now capable of driving growth momentum and are transitioning from "isolated breakthroughs" to "industrial-chain-wide expansion".Tian Gangyin, founder, chairman and president of the Chinese unmanned aerial vehicle developer United Aircraft, said the blueprint mapped out for the 15th Five-Year Plan period is "inspiring and motivating".Industrial-level drones are finding applications in a wide range of fields, such as emergency rescue work, power line patrolling, farming, and surveillance and security operations, he added.Aerospace is another strategic industry that China values, and in which companies are moving fast. Hainan International Commercial Aerospace Launch Co, for instance, plans to double its number of launch pads from two to four, and push forward rocket-recovery technology, marking a major step in the country's bid to build a globally competitive commercial space hub in Wenchang, Hainan province.Yang Tianliang, chairman of the company, said: "By end-2026, we will have launch pads No 3 and No 4, along with a new technical area and telemetry station. Once completed, the facility will be able to handle more than 60 launches annually, with each pad supporting launch missions every 10 days, or even weekly."Meanwhile, China is making progress in the new energy industry, such as in nuclear energy.Wei Zhigang, chairman of Hainan Nuclear Power Co, said artificial intelligence computing fuels an exponential surge in demand for electricity, and it is increasingly difficult for the traditional energy supply to meet such a huge demand."Secure, affordable and low-carbon energy has become a key factor driving the high-quality development of the intelligent computing industry," Wei said.

In this episode, Jim sits down with U.S. National Development Program Head Coach Chris Zambri to discuss how the USGA is building a national system to develop America's next wave of world-class golfers. Zambri shares his journey from USC and Pepperdine to leading the program, why the U.S. needed a true national development model, and how it's inspired by Sweden's holistic approach to building complete athletes—mentally, physically, and technically. They dive into how the program identifies top talent, fills key gaps in junior development like course management and performance analytics, and prepares players for elite competition. Zambri also breaks down the boys team's groundbreaking appearance at the Sahalee NCAA event, where high schoolers competed against powerhouse college programs—gaining invaluable experience under professional-level conditions. The US National Development Program also has a Grant Program helping deserving families offset the financial burden of pursuing elite junior golf. The application for the 2026 grants is Friday October 31st. For more information, see https://www.usga.org/content/usga/home-page/usndp-home-page/grant-information.html The Driven Golf Podcast is brought to you by FlagBag Golf Company and StrackaLine. Use code ‘DRIVEN' for 20% off StrackaLine yardage books or mention ‘Driven Golf' when ordering a FlagBag golf bag for a free custom headcover. @flagbaggolf | flagbaggolfco.com strackaline.com Join the Driven Golf Podcast Group on Facebook and subscribe to the Driven Golf Analytics YouTube Channel. Visit DRVN.Golf for more content. Hosts: Jim Colton (@drivengolfanalytics) & Andrew Lewis (@andrewlewisgolf) @usndp⁠)Producer: Joseph Kay (@joseph_kay)

China is set to make the development of new quality productive forces one of the top priorities of its next five-year plan, as policymakers seek to upgrade the nation's industrial structure, spur innovation-driven growth, and reinforce confidence in the long-term outlook of the world's second-largest economy, said officials, experts and global executives.官员、专家及全球企业高管表示，中国计划将发展新质生产力列为下一个五年规划的重点任务之一，政策制定者正致力于推动产业结构升级、激发创新驱动型增长，并增强对这一世界第二大经济体长期发展前景的信心。The new blueprint will serve as a crucial bridge between the current phase of recovery and China's goal of basically achieving socialist modernization by 2035. Experts said it underscores the country's resolve to reinvigorate growth amid domestic structural pressures and rising global uncertainties, steering the economy toward new drivers such as advanced manufacturing, green transformation and digital innovation.这份新蓝图将成为当前复苏阶段与中国2035年基本实现社会主义现代化目标之间的重要桥梁。专家指出，这凸显了中国在国内结构性压力和全球不确定性上升的背景下重振增长的决心，推动经济向先进制造业、绿色转型和数字创新等新动力方向发展。Their comments came as the market is closely watching the draft proposals for the 15th Five-Year Plan (2026-30), as the 20th Central Committee of the Communist Party of China is holding its fourth plenary session in Beijing to deliberate on the drafting of the blueprint for China's development over the next five years.他们的表态正值市场密切关注“十五五”规划草案之际，中共二十届四中全会正在北京召开，审议未来五年中国发展蓝图的编制工作。President Xi Jinping shed light on the likely key priorities in Shanghai in April as he presided over a symposium on China's economic and social development in the 15th Five-Year Plan period and delivered an important speech.4月，习近平主席在上海主持“十五五”时期经济社会发展座谈会并发表重要讲话，阐明了未来五年可能的重点任务。Xi, who is also general secretary of the CPC Central Committee, said higher strategic priority must be given to fostering new quality productive forces in line with local conditions in the next five years.作为中共中央总书记，习近平强调，未来五年必须结合地方实际，把培育新质生产力摆在更突出的战略位置。Highlighting the roles of technological innovation and the real economy, he called for efforts to transform and upgrade traditional industries, develop emerging industries, and make forward-thinking arrangements for industries of the future, in order to accelerate modernization of the industrial system.习近平主席强调科技创新和实体经济的重要作用，呼吁着力推动传统产业转型升级、发展战略性新兴产业、前瞻布局未来产业，以加快推进工业体系现代化。Robin Xing, chief China economist at Morgan Stanley, said his team believes that China will remain committed to deepening the economic transition anchored in technology and innovation to secure the supply chain and energy self-sufficiency. "We expect a tech-and supply-driven framework."摩根士丹利首席中国经济学家邢自强表示，其团队认为中国将继续致力于深化以科技和创新为核心的经济转型，保障供应链和能源自给自足，“我们预计将形成一个以科技和供应链为驱动的框架”。Zhang Ning, senior China economist at UBS Investment Bank, said China is likely to continue offering support in fundamental and frontier research, and in self-sufficiency technology bottleneck areas during the next five years.瑞银投资银行高级中国经济学家张宁指出，未来五年中国可能会继续支持基础研究和前沿研究，并在关键技术“卡脖子”领域助力自主可控。"We think fostering 'high-quality growth' will likely be the top priority over the next decade, mainly driven by innovation and total factor productivity growth," Zhang added.她补充道：“我们认为，未来十年‘高质量增长'有望成为首要任务，这一增长将主要由创新和全要素生产率提升驱动”。A meeting of the Political Bureau of the CPC Central Committee, chaired by Xi in late September, discussed major issues related to the formulation of the 15th Five-Year Plan for national economic and social development.9月底，习近平主席主持召开中共中央政治局会议，研究“十五五”时期国民经济和社会发展规划编制的重大问题。The meeting stressed the need to remain committed to high-quality development, foster new quality productive forces in line with local conditions, and comprehensively deepen reform while further expanding high-level opening-up.会议强调，要坚持高质量发展，结合地方实际培育新质生产力，全面深化改革并进一步扩大高水平对外开放。Citing research topics for the next five-year plan released by the National Development and Reform Commission, the country's top economic regulator, Ye Fan, an analyst at Southwest Securities, said the scope of studies under the upcoming five-year plan has expanded significantly, with newly added topics accounting for about 50 percent of the total.西南证券分析师叶凡援引中国最高经济调控机构国家发展和改革委员会发布的“十五五”规划研究课题指出，下一个五年规划的研究范围大幅扩大，新增课题约占总数的50%。"Among them, subjects related to technological innovation and industrial development increased by 80 percent and 64 percent, respectively," Ye noted. "The topics cover key areas such as global technological and industrial transformation, talent development and innovation capacity building. In terms of industrial priorities, the focus is placed on key areas including the digital economy, artificial intelligence, services and healthcare."其中，科技创新和产业发展相关课题占比分别提升80%和64%，涵盖全球科技产业变革、人才培养、创新能力建设等关键领域；产业重点则聚焦数字经济、人工智能、服务业、医疗健康等方向。According to Ye, policymakers will place greater emphasis on development quality, efficiency and sustainability in the next five years. "It will drive industrial upgrading through technological innovation, deepen the integration of the digital and real economies, and promote a comprehensive green transformation of China's economy and society."叶凡表示，未来五年政策制定者将更注重发展质量、效率和可持续性，通过科技创新推动产业升级，深化数字经济与实体经济融合，促进中国经济社会全面绿色转型。In March 2024, Zheng Shanjie, head of the NDRC, told a symposium that the planning of the 15th Five-Year Plan will fully take into account the practical requirements for developing new quality productive forces.2024年3月，国家发展和改革委员会（NDRC）主任郑栅洁在一场座谈会上表示，“十五五”规划编制将充分考虑发展新质生产力的实际需求。He said policymakers will focus on identifying key tasks and foundational projects to promote the growth of new quality productive forces as they set major goals, strategic missions, reform measures, and large-scale projects for the next stage of China's economic and social development.他指出，政策制定者在确定下一阶段中国经济社会发展的主要目标、战略任务、改革举措和重大项目时，将重点明确推动新质生产力发展的关键任务和基础性项目。Hu Yuwei, chief policy analyst at China Securities, said the next five-year blueprint will place greater emphasis on innovation-driven growth, green and low-carbon development, and digital transformation to adapt to the trends of globalization and informatization.中国证券首席政策分析师胡玉玮表示，下一个五年规划蓝图将更加强调创新驱动增长、绿色低碳发展和数字化转型，以适应全球化和信息化趋势。China's innovation capacity has risen rapidly over the past few years. According to the "Global Innovation Index 2025" report released by the World Intellectual Property Organization, China has risen to 10th place in the global innovation ranking for 2025, up one spot from last year, marking its first entry into the top 10.过去几年，中国创新能力快速提升。根据世界知识产权组织发布的《2025年全球创新指数》报告，中国2025年全球创新排名升至第10位，较上年提升1位，首次进入前十。However, Hu cautioned that challenges remain. "Our basic research remains relatively weak, with insufficient concentration of scientific resources and a lack of systematic advantage in original innovation."不过，胡玉玮也提醒，挑战依然存在。“我国基础研究相对薄弱，科技资源集中度不足，原始创新缺乏系统性优势。”Hu suggested that during the next five years, China should strengthen its national strategic science and technology capacity, enhance self-reliance in core technologies, and promote advanced, smart and green manufacturing.胡玉玮建议，未来五年，中国应强化国家战略科技力量，提升核心技术自主可控能力，推动先进制造、智能制造和绿色制造发展。Global executives hailed China's ongoing efforts to foster new quality productive forces, saying that multinational corporations will see rising opportunities in the next few years.全球企业高管对中国培育新质生产力的持续努力表示赞赏，认为跨国公司未来几年将迎来更多机遇。"I don't see China only as just the market. I think China has probably become an engine for some specific innovations, which we can develop elsewhere," said Estelle Brachlianoff, CEO of Veolia, a French transnational group focusing on ecological environment and resource management.法国生态环境与资源管理跨国集团威立雅首席执行官埃斯特尔・布拉希利亚诺夫（音译）表示：“我不认为中国只是一个市场，我认为中国很可能已成为某些特定创新的引擎，这些创新成果也可应用到其他地区。”Brachlianoff said she is confident that China's upcoming 15th Five-Year Plan will keep green development high on the agenda, creating more opportunities for Veolia in areas such as decarbonization and ecological restoration.布拉希利亚诺夫称，她相信中国即将出台的“十五五”规划将继续把绿色发展置于重要议程，为威立雅在脱碳、生态修复等领域创造更多机会。Marc Horn, president of Merck China, said China is an important source of innovation. "We are very confident in staying the course and remaining committed to our investments (here in China)."默克集团中国区总裁何慕麒表示，中国是重要的创新源泉。“我们对在中国的发展道路充满信心，并将继续坚定投入。”underscore/ˌʌndəˈskɔː(r)/v.强调；凸显bottleneck/ˈbɒtlnek/n.瓶颈；障碍reinforce/ˌriːɪnˈfɔːs/v.增强；巩固deliberate/dɪˈlɪbəreɪt/v.审议；仔细考虑

Lots of Summer Blockbuster reading! Research and Policy Analysts, Michelle and Susanne briefly chat initial takes on the National Development Plan Review and the Summer Economic Statement.   Summer Economic Statement 2025 National Development Plan Review 2025 Report on Stakeholder Engagement and Emerging Themes on Infrastructure Budget 2026 Tax Strategy Group papers NPF Implementation: Housing Growth Requirements

As usual, the news is newsing. This week we discuss rising international pressure in relation to the starving people of Gaza, the low key announcement of the National Development Plan, listeriosis, racist incidents in Dublin and the removal of the Lidl in Carrigstown from Google Maps.Pre-order Carl's book here.To support the podcast and access bonus episodes, join the community on Patreon here. Hosted on Acast. See acast.com/privacy for more information.

Minister of State at the Department of Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, Emer Higgins, joins us to unpack the National Development Plan—what it means for communities across Ireland, how progress is being tracked, and the priorities shaping the country's future.

Kerry Sinn Féin TD Pa Daly is his party’s spokesperson for climate, environment, energy and transport.

There's a call for the Government to provide clarity as to whether a new Model three hospital in the Midwest will be included in the National Development Plan. The revised plan gives the Department of Health an allocation of €9 billion for 2026 to 2030 but a list of projects to be supported isn't expected to be finalised for several months. The findings of HIQA's review of emergency capacity in this region are due in September and hopes for a new emergency department were dealt a significant blow in May when HSE MidWest made a submission that didn't recommend such a facility. Scariff-based Independent MEP Michael McNamara believes residents of Clare, Limerick and North Tipperary deserve a straight answer on the matter.

On Thursdays Tipp Today, Fran spoke to ray about the need for the GAA to promote the Irish language more, Anne Williamson from Cappangarrane Rescue tearfully told Fran about a theft from her rescue center, Martin Browne on the National Development plan, Donal called in with his views on the Presidency, Mattie McGrath joined Fran on a number of topics, Dr Annmarie Tobin on the idea of banning sunbeds, Christopher on the failings of the rail network, Muriel on sports and nutrition and the Kennedy curse was the focus of the latest conspiracy files.

This week the Government outlined spending of €200 billion on a National Development Plan stretching over the next decade. In parallel it also set out its stall for this year's budget, signalling a spending and tax package of €9.5 billion. Joining host Ciarán Hancock in studio to dissect these spending plans and tax cuts against a backdrop of a potential trade war between the US and the EU were Ellen Coyne, political correspondent of The Irish Times, Ferga Kane, EY Ireland's strategy and transactions team lead, and Cliff Taylor of The Irish Times. They tease out the headline numbers in the National Development Plan, the areas being targeted over the next five years, and the likely impact on future foreign investment.Produced by John Casey with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.

Peter Burke, Minister for Enterprise, Trade and Employment

Jerry spoke to Minister for Children Norma Foley about the National Development Plan and the Government’s summer economic statement.

The Government is being urged to ramp up investment in the road network of rural parts of Clare. It comes as details have been revealed of the State's plans to invest €112 billion in infrastructure over the next five years. As part of the revised National Development Plan, housing is to receive an investment of €36 billion while transport will be supported to the tune of €24 billion - €2 billion of which will go towards Dublin's Metrolink. O'Callaghan's Mills native and Secretary of the Clare branch of the Irish Creamery and Milk Suppliers Association, Martin McMahon, claims the powers that be have a job of work to do to prove the west of Ireland isn't being forgotten about.

The government has signed off on a 112-billion-euro capital investment package out to the end of the decade. A further 100 billion is being planned for the years 2030 to 2035. The National Development Plan review injects further cash from the Apple Tax and AIB share sales. 24 billion of that money will be put into transport, including public transport. While 36 billion euro is being provided to 2030 for housing - not including investment in water. Tánaiste Simon Harris says the money will contribute to huge infrastructure improvements. To discuss this further, Alan Morrissey was joined by Garry Miley, Ogonnelloe-based Architect and Colmán Ó Raghallaigh, West On Track.

An Taoiseach, Micheál Martin joined Newstalk Breakfast this morning ahead of the Cabinet summer break. Joining Shane to discuss Metrolink, budget and the National Development Plan and more.

This week the Government outlined spending of €200 billion on a National Development Plan stretching over the next decade. In parallel it also set out its stall for this year's budget, signalling a spending and tax package of €9.5 billion. Joining host Ciarán Hancock in studio to dissect these spending plans and tax cuts against a backdrop of a potential trade war between the US and the EU were Ellen Coyne, political correspondent of The Irish Times, Ferga Kane, EY Ireland's strategy and transactions team lead, and Cliff Taylor of The Irish Times. They tease out the headline numbers in the National Development Plan, the areas being targeted over the next five years, and the likely impact on future foreign investment.Produced by John Casey with JJ Vernon on sound. Hosted on Acast. See acast.com/privacy for more information.

Minister Niall Collins joins Joe to discuss the National Development Plan. Hosted on Acast. See acast.com/privacy for more information.

An Taoiseach, Micheál Martin joined Newstalk Breakfast this morning ahead of the Cabinet summer break. Joining Shane to discuss Metrolink, budget and the National Development Plan and more.

Minister for Public Expenditure and Reform Jack Chambers joins The Last Word to discuss the Government's revised National Development Plan which aims to address the country's gaps in housing, utilities infrastructure, transport and more.Catch the full conversation by pressing the 'Play' button on this page!

A Clare TD says the county is in urgent need of large-scale funding under the National Development Plan to prevent the death of rural Clare communities. A further €30 billion is to be be added to the revised plan, taking the total to €100 billion between 2026 and 2030. The amounts allocated to each department and utility will be announced later today while a full list of all projects set to receive funding is not expected for a number of months. Bodyke Fine Gael TD Joe Cooney says business closures and population decline will continue in rural areas if infrastructural issues aren't addressed.

The Government's flagship new plan to build infrastructure over the next five years. Reporter Barry Lenihan gives us a breakdoen of the details.

The final elements of the €200 billion National Development Plan have been agreed and published earlier today, with the Government setting out how we will invest in all our infrastructure for the next 10 years.So how will the €200 billion be spent?Minister for Public Expenditure, Infrastructure, Reform and Digitalisation, Fianna Fáil Deputy Leader and TD for Dublin City West, Jack Chambers, joins Kieran to discuss.

The final elements of the €200 billion National Development Plan have been agreed and published earlier today, with the government setting out how we will invest in all our infrastructure for the next 10 years.But, what exactly will the money be spent on, and was every base covered?Mairéad Farrell, Sinn Féin Spokesperson on Public Expenditure and TD for Galway West/South Mayo and David Timoney, Chief Economist at Davy, join Kieran to discuss.

The Government's National Development Plan has been unveiled today, which will see investment to the tune of €200 billion over the next decade.But, will this be all it's cracked up to be?Joining Kieran to discuss is Danny McCoy, CEO of IBEC and Frances Ruane, the Chair of the state's National Competitiveness and Productivity Council.

Cormac McQuinn, Political Correspondent for the Irish Times, discusses the revised National Development Plan being unveiled by government. Sean Canney, Minister of State at the Department of Transport, outlines the new National Development Plan projected to spend nearly €100 billion between 2026 and 2030.

Sandra Hurley, of our Political staff, reports on the revised national development plan which is due to be published tomorrow.

With a chronic shortage of housing, a water supply which cannot meet demand, and an electricity grid creaking at the seams, there's plenty to talk about with the Minister for Public Expenditure and Reform, Jack Chambers.

Michael Healy-Rae, Minister of State at the Department of Agriculture, Food & the Marine; Martin Kenny, Sinn Féin TD for Sligo–Leitrim; Paul Lawless, Aontú TD for Mayo

David Murphy, Economics and Public Affairs Editor, explains what the National Development Plan review is and why it matters.

Bolstered by sustained policy support for trade-in programs, China's consumption is likely to continue its robust growth momentum in the second half of the year, better underpinning the country's stable economic growth amid mounting external uncertainties, analysts said.分析人士表示，在对以旧换新项目的持续政策支持的推动下，中国的消费可能会在今年下半年继续保持强劲的增长势头，在外部不确定性日益增加的情况下更好地支撑该国的稳定经济增长。China still has ample fiscal headroom to reinforce its trade-in initiative later this year should consumer demand exhaust its initial 300 billion yuan ($42 billion) allocation, they said, emphasizing that similar policy incentives could be extended to the service sector to foster more sustainable consumption growth.他们表示，如果消费者需求耗尽其最初的3000亿元人民币（420亿美元）的拨款，中国仍有充足的财政空间来加强其以旧换新计划，并强调类似的政策激励措施可以扩展到服务业，以促进更可持续的消费增长。On Tuesday, the Ministry of Finance announced the issuance of 11 ultra-long-term treasury bonds in the third quarter, with four of them seeing their timelines accelerated compared with the previous plan released in April. This will help maintain a continuous flow of funding to support policies meant to boost consumption, analysts said.周二，财政部宣布在第三季度发行11只超长期国债，其中4只的发行时间比4月份发布的计划提前。分析人士表示，这将有助于保持持续的资金流动，以支持旨在促进消费的政策。According to the National Development and Reform Commission, China's top economic regulator, the third group of fiscal funding through ultra-long-term treasury bonds for the consumer goods trade-in program is scheduled to be allocated in July.周二，财政部宣布在第三季度发行11只超长期国债，其中4只的发行时间比4月份发布的计划提前。分析人士表示，这将有助于保持持续的资金流动，以支持旨在促进消费的政策。The central government has earmarked 300 billion yuan in ultra-long-term treasury bonds to support the trade-in program for the whole year. The first two groups of fiscal funding, totaling 162 billion yuan, were allocated in January and April.中央政府已指定3000亿元人民币的超长期国债，以支持全年的置换计划。前两批财政资金共计1620亿元，分别于1月和4月拨付。"If the remaining 138 billion yuan runs out ahead of schedule, the possibility of unveiling additional funding this year cannot be ruled out," said Zhao Wei, chief economist at Shenwan Hongyuan Securities.申万宏源证券首席经济学家赵表示：“如果剩余的1380亿元提前用完，今年不排除推出额外资金的可能性。”。"As the trade war initiated by the United States still weighs on China's economy, efforts to shore up domestic demand will be of paramount importance to mitigate external shocks and maintain steady growth," he said.他说：“由于美国发起的贸易战仍对中国经济造成压力，提振内需对于缓解外部冲击和保持稳定增长至关重要。”。By avoiding a one-time, large-scale fund injection that could disrupt market dynamics, the phased allocation of the fiscal funds helps create a stable and supportive environment for the consumption recovery to take hold throughout the year, Zhao added.赵补充道，通过避免可能扰乱市场动态的一次性大规模资金注入，财政资金的分阶段分配有助于为全年的消费复苏创造稳定和支持性的环境。In late June, the People's Bank of China, the country's central bank, also pledged to leverage various tools in support of the trade-in programs, such as increasing credit support for recycling companies and home renovation suppliers and fast-track financing for manufacturers of energy-efficient smart home products.6月下旬，中国央行中国人民银行还承诺利用各种工具支持以旧换新计划，例如增加对回收公司和家居装修供应商的信贷支持，以及为节能智能家居产品制造商提供快速融资。"Boosted by the trade-in programs, sales of household appliances, furniture and communication devices have registered rapid growth. Sales related to trade-ins have surpassed 1.4 trillion yuan so far this year," said Li Chao, a spokeswoman for the National Development and Reform Commission, when addressing a news conference on June 26.国家发展和改革委员会发言人李超在6月26日的新闻发布会上表示：“在以旧换新计划的推动下，家用电器、家具和通信设备的销售额实现了快速增长。今年到目前为止，与以旧换旧相关的销售额已超过1.4万亿元。”。According to data from the National Bureau of Statistics, China's consumer spending in May posted its strongest monthly growth since 2024, with retail sales of consumer goods expanding 6.4 percent year-on-year in May, a 1.3 percentage point increase from April.根据国家统计局的数据，中国5月份的消费支出出现了2024年以来最强劲的月度增长，5月份消费品零售额同比增长6.4%，比4月份增长1.3个百分点。Experts cautioned that although the trade-in policies have been effective in driving sales of consumers goods, they also carry the risk of front-loading consumer demand, which could create challenges down the line.专家警告称，尽管以旧换新政策有效地推动了消费品的销售，但它们也带来了提前满足消费者需求的风险，这可能会在未来带来挑战。"Providing similar consumption incentives to promote service sector spending could become a key policy lever going forward," said Jiang Zhao, an associate researcher at the Chinese Academy of International Trade and Economic Cooperation.中国国际贸易经济合作研究院副研究员江赵表示：“提供类似的消费激励措施来促进服务业支出，可能会成为未来的一个关键政策杠杆。”。Jiang noted that development patterns in advanced economies indicate that upon entering high-income status, nations typically experience a gradual rise in the proportion of service consumption. As China approaches this threshold, its consumption structure is transitioning from being focused on goods to being focused on both goods and services, he said.江指出，发达经济体的发展模式表明，进入高收入国家后，服务消费的比例通常会逐渐上升。他说，随着中国接近这一门槛，其消费结构正在从以商品为重点转变为以商品和服务为重点。Nevertheless, service consumption spans diverse sectors such as elderly care, tourism, fitness and healthcare, implying that subsidy programs would demand substantial fiscal funding and pose significant oversight challenges, Jiang said, adding that any decision to implement such incentives would require prudent assessment based on practical conditions.然而，江表示，服务消费涵盖了养老、旅游、健身和医疗保健等多个领域，这意味着补贴计划将需要大量的财政资金，并带来重大的监管挑战。他补充说，任何实施此类激励措施的决定都需要根据实际情况进行审慎评估。fast-track financingn.快速融资consumption structuren.消费结构

Can the National Development Plan deliver on all its projects? With a €165 billion investment in transport, housing and infrastructure - will everything be met by 2040?Joining Kieran to discuss is Brian Caulfield, Professor in the School of Engineering at Trinity College Dublin.

Minister for Public Expenditure, Jack Chambers is launching public consultation on the National Development Plan Review today. Minister Chambers spoke to Shane this morning.

Send us a textJames Montague discusses his journey from cutting hair in the projects for 50 cents to building an empire through real estate development. He emphasizes the importance of starting with what you have and pivoting when necessary. Montague shares his personal transformation after suffering a stroke at 26, which led him to focus on health and time management. He highlights his mission-driven development company, f7 National Development, which includes projects like a STEM school and a retirement home. Montague's book, "Hood Minted: How Hustle and Faith Built an Empire," reflects on his experiences and lessons learned, aiming to inspire entrepreneurs.Support the showThank you for listening.... Feel free to contact us with your thoughts, questions, or more. We would love to hear from you. Please contact rinnie@webbsquared.org

On behalf of Taiwan in the Indo-Pacific Region and its National Security Task Force the Hoover Institution held a Taiwan Roundtable Discussion on Tuesday, February 18, 2025, from 5:00 - 6:00 pm PT. Taiwan is facing a potential constitutional crisis. In December 2024, Taiwan's opposition-controlled legislature voted to impose a 2/3 supermajority quorum for the Constitutional Court to hear new cases. The legislature then voted down all the new nominees to the Court, leaving it with only 8 of members and unable to meet the new quorum requirement. The government has appealed to the Court to meet anyway and rule that the new amendments are unconstitutional. In this discussion, three experts on Taiwan's politics and judicial system discuss the factors leading up to this confrontation, the options facing the court, and the potential for deeper reforms to strengthen judicial independence in the face of a deepening confrontation between the ruling and opposition parties. ABOUT THE PARTICIPANTS Chien-Chih Lin is an associate research professor at Institutum Iurisprudentiae, Academia Sinica and an associate professor at the Graduate Institute of National Development, National Taiwan University. He received the LLM & JSD degrees from the University of Chicago. His academic interests focus on comparative constitutional law in Asia. Lin is the coauthor ofConstitutional Convergence in East Asia (2022) and Ultimate Economic Conflict between China and Democratic Countries (2022). His articles can be found in both peer-reviewed and student-edited law journals as well as edited volumes, including Oxford Handbook of Constitutional Law in Asia, American Journal of Comparative Law, and International Journal of Constitutional Law. He is the book review editor of International Journal of Constitutional Law. Weitseng Chen is a faculty member at the National University of Singapore Faculty of Law, specializing in law and economic development, law and politics, and legal history in the context of Greater China. He has recently published several books, including Regime Type and Beyond: The Transformation of Police in Asia (CUP, 2023), Authoritarian Legality in Asia: Formation, Development and Transition (CUP, 2019), The Beijing Consensus? How China Has Changed the Western Ideas of Law and Economic Development (CUP, 2017), Property and Trust Law: Taiwan (with Yun-Chien Chang & Y. J. Wu, Kluwer, 2017), and Law and Economic Miracle: Interaction Between Taiwan's Development and Economic Laws After WWII (in Chinese, 2000). Weitseng Chen earned his JSD from Yale Law School. Prior to joining NUS, he served as a Hewlett Fellow at Stanford's Center for Democracy,Development, and the Rule of Law (CDDRL) and practiced as a corporate lawyer in the Greater China region with Davis Polk & Wardwell. Kharis Templeman is a research fellow at the Hoover Institution and part of the Project on Taiwan in the Indo-Pacific. Templeman is a political scientist (Ph.D. 2012, Michigan) with research interests in Taiwan politics, democratization, elections and election management, party system development, and politics and security issues in Pacific Asia.

On this week's episode of GOLF's Subpar, Colt Knost and Drew Stoltz are joined by USGA CEO Mike Whan for an exclusive interview. The former commissioner of the LPGA talks the many initiatives they have in place for the start of the recreational golf season, what venues he is most excited to have hosting their Championships and why creating the U.S. National Development Program was so important.--Join us at The Bank, Hilton Head's Beer Garden, for Subpar Live on Wednesday, April 16, at 6 PM EST. Enjoy a night of golf, laughs, and good times with drink specials, giveaways, and more. Whether you're a PGA Tour caddie, a fan, or in town for RBC Heritage, this is the place to be. Presented by Zone.--Make sure you enter the Golden Bear(™) Sweepstakes between March 27th - April 13th with Fanatics Sportsbook for your chance to win a pin flag signed by Jack Nicklaus. Gambling Problem? See Official Rules at https://sportsbook.fanatics.com/promo-terms/2025/Sweepstakes/ALL_1878.pdf . Sponsor: FBG Enterprises Opco, LLC. Not sponsored, endorsed by or affiliated with Augusta National, Inc.⁠https://www.joinfanatics.com/subpar-signed-flag-sweepstakes/⁠GAMBLING PROBLEM? CALL 1-800-GAMBLER, Connecticut residents call (888) 789-7777,  Massachusetts residents call (800)-327-5050, New York residents call (877) 8-HOPENY, Maryland residents visit ⁠mdgamblinghelp.org⁠. --Thank you to our partners at Ship Sticks.  Skip airport stress and costly airline fees with complimentary insurance, real-time tracking, dedicated support, and on-time delivery.  Go to ⁠⁠⁠⁠shipsticks.com⁠⁠⁠⁠ and use the code SUBPAR20 to enjoy 20% off your first shipment.--Thank you to our partners at Callaway. The #1 putter on every major Tour—PGA, LPGA, DP World—you name it. More Tour Pros trust Odyssey than any other brand, and it shows with #1 rankings in worldwide wins and money earned. See what it can do for you at⁠⁠⁠⁠⁠ OdysseyGolf.com⁠⁠⁠⁠⁠.--Choose your style, pick your favorite Birdie Juice logo and shop from a line-up of top tier brands at ⁠⁠⁠⁠shop.golf.com⁠⁠⁠⁠ today!

An article by Xi Jinping, general secretary of the Communist Party of China Central Committee, on unswervingly consolidating and developing the public sector and unswervingly encouraging, supporting and guiding the development of the nonpublic sector was published on Sunday, sending a clear message again that the country remains committed to bolstering the growth of the private economy.中共中央总书记习近平《关于毫不动摇巩固和发展公有制经济，毫不动摇鼓励、支持、引导非公有制经济发展的重要论述》一文于周日发表，再次发出了国家继续致力于促进民营经济发展的明确信号。The article by Xi, who is also Chinese president and chairman of the Central Military Commission, came nearly one month after he held a special symposium on private enterprises on Feb 17, aiming to boost private businesses. It was published in this year's sixth issue of Qiushi Journal, the flagship magazine of the CPC Central Committee.国家主席、中央军委主席的习近平在2月17日召开民营企业座谈会近一个月后发表了这篇文章，旨在促进民营企业发展。这篇文章发表在中共中央的旗舰杂志《求是》杂志今年第六期上。The article highlighted that China's basic economic system, in which the core principles and policies of the Party and the country regarding the development of the private economy are laid out, has been incorporated into the Constitution of the People's Republic of China and the Party Constitution. The system "will not and cannot be changed", the article said.文章强调，中国的基本经济制度是党和国家关于发展民营经济的核心方针政策，已写入《中华人民共和国宪法》和《中国共产党章程》。文章说，这一制度“不会也不能改变”。The Party and the country ensure that economic entities under all forms of ownership have equal access to factors of production in accordance with the law, can compete on a level playing field, and are protected by the law as equals. This enables them to complement each other and develop side by side, facilitating the healthy development of the nonpublic sector and those working in it, according to the article.党和国家保障各种所有制经济实体依法平等使用生产要素、公平参与竞争、同等受到法律保护。文章称，这使它们能够取长补短、共同发展，促进非公有制经济和非公有制经济人士的健康发展。Both the public and nonpublic sectors are important components of the socialist market economy and an important basis for China's economic and social development, it noted, adding that the two sectors should complement each other and develop in tandem.报告指出，公有制经济和非公有制经济都是社会主义市场经济的重要组成部分，都是中国经济社会发展的重要基础。China's consistent commitment to the development of the private economy, which has been demonstrated in various forms such as policy announcements and high-level meetings, comes at a time when debates on the relationship between State-owned enterprises and private businesses have gained traction.中国对民营经济发展的一贯承诺，已通过政策发布和高层会晤等各种形式表现出来，而此时，关于国有企业与民营企业之间关系的讨论正日益引人关注。In the 1980s, China's private economy started from scratch, but it experienced rapid growth over the past four decades.20世纪80年代，中国民营经济从零起步，但在过去40年中经历了快速发展。In terms of the role of the private economy, Xi's article said that for a long time, the rapid expansion of China's private sector has played an important role in stabilizing growth, powering innovation, increasing employment and raising people's living standards.关于民营经济的作用，习近平在文章中指出，长期以来，中国民营经济快速发展，在稳定增长、推动创新、增加就业、提高人民生活水平等方面发挥了重要作用。Official statistics show that private businesses contribute approximately 50 percent of the country's tax revenue, 60 percent of GDP and 70 percent of technological innovation, and they account for 80 percent of urban employment.官方统计数据显示，私营企业贡献了全国约50%的税收、60%的GDP和70%的技术创新，并占城市就业的80%。Paul Frimpong, executive director and senior research fellow at the Ghana-based Africa-China Centre for Policy and Advisory, said the Chinese government's effective partnership with the private sector has been central to the country's economic success through enhancing prosperity, employment and livelihoods.总部设在加纳的非中政策与咨询中心执行主任兼高级研究员保罗-弗林蓬（Paul Frimpong）说，中国政府与私营部门建立了有效的伙伴关系，通过促进繁荣、就业和生计，对加纳经济的成功起到了核心作用。"By driving GDP growth, creating jobs and fostering innovation, private enterprises underpin the nation's economic resilience," Frimpong said. "By fostering a dynamic and inclusive private economy, China can sustain high-quality growth, improve living standards and enhance global competitiveness."“通过推动国内生产总值增长、创造就业和促进创新，民营企业支撑着国家经济的韧性，"弗林蓬说。“通过培育充满活力和包容性的民营经济，中国可以保持高质量增长，提高人民生活水平，增强全球竞争力。However, China's private enterprises have faced mounting challenges in the past few years, including financing difficulties and concerns about fair competition and legal protections, which, to some extent, have thwarted the confidence of private businesses.然而，在过去几年中，中国民营企业面临着越来越多的挑战，包括融资困难、对公平竞争和法律保护的担忧等，这在一定程度上挫伤了民营企业的信心。To address these challenges, the Chinese government has introduced several key measures since 2023 to enhance the institutional environment for private enterprises. They include a 31-measure guideline to boost the private sector, the establishment of the private economy development bureau of the National Development and Reform Commission, and legislative progress on a law to promote the private economy.为应对这些挑战，中国政府自2023年以来推出了多项重要措施，以改善民营企业的制度环境。这些措施包括31条促进民营经济发展的指导意见、国家发展和改革委员会民营经济发展局的成立以及民营经济促进法的立法进展。Speaking in February at the symposium, which was attended by the nation's leading private entrepreneurs, Xi emphasized that the current difficulties and challenges facing the private sector are partial and temporary, rather than holistic and long-term, and "they can be overcome".今年2月，习近平在全国知名民营企业家座谈会上强调，当前民营经济面临的困难和挑战是局部的、暂时的，不是整体性、长期性的，“是可以克服的”。He also mentioned that this is an opportune moment for private enterprises and entrepreneurs to showcase their talent and significantly contribute to the country's development.他还提到，现在正是民营企业和民营企业家施展才华、为国家发展作出重要贡献的大好时机。Djoomart Otorbaev, former prime minister of Kyrgyzstan and a professor of the Belt and Road School of Beijing Normal University, said the high-level symposium, the first of its kind hosted since 2018, took place amid the complexities of emerging global economic challenges, including heightened geopolitical tensions and regulatory overreach against some of the country's corporate giants.吉尔吉斯斯坦前总理、北京师范大学“一带一路 ”学院教授德约马特-奥托尔巴耶夫表示，此次高级别研讨会是2018年以来举办的首次此类会议，是在全球经济新挑战错综复杂的背景下召开的，这些挑战包括地缘政治紧张局势加剧以及针对该国一些企业巨头的监管过度。"What is certain is that the symposium communicates a clear message of support for private sector entrepreneurs at the highest level, which will inspire much-needed spirit and optimism for renewed growth in China, particularly in its tech sector," Otorbaev said in an article published on the website of the China Global Television Network.“奥托尔巴耶夫在中国环球电视网网站上发表的一篇文章中说："可以肯定的是，此次座谈会传达了最高层支持民营企业家的明确信息，这将激发中国亟需的精神和乐观情绪，促进中国经济的恢复性增长，尤其是在科技领域。According to the Government Work Report delivered by Premier Li Qiang at the annual session of the National People's Congress, the nation's top legislature, on March 5 in Beijing, China will encourage private investment by implementing new mechanisms for public-private partnerships in a well-regulated manner and guiding more private investment toward major infrastructure and public well-being projects, thus creating more opportunities for the development of private capital.根据国务院总理李强3月5日在北京举行的全国人民代表大会（中国最高立法机构）年度会议上所做的《政府工作报告》，中国将鼓励民间投资，规范实施公私合营新机制，引导更多民间投资投向重大基础设施和民生工程，为民间资本发展创造更多机会。Observers said the Chinese government's engagement with private entrepreneurs, as well as ongoing policy refinements, reflect a pragmatic approach aimed at fostering an environment where State-owned and private businesses can thrive together.观察家们认为，中国政府与民营企业家的接触以及不断完善的政策，反映了一种务实的态度，旨在营造一个国有企业和民营企业共同发展的环境。Rather than retreating, the private sector is being empowered to take on new opportunities in sectors such as advanced manufacturing, the digital economy and international trade, they said.他们说，私营企业非但没有退缩，反而在先进制造业、数字经济和国际贸易等领域获得了新的机遇。Huang Hanquan, director of the National Development and Reform Commission's Academy of Macroeconomic Research, emphasized the importance of faithfully implementing the measures to boost the private economy.国家发展和改革委员会宏观经济研究院院长黄汉权强调了认真落实促进民营经济发展措施的重要性。"Many supportive policies have been in place," Huang said in an interview with China Media Group. "The key, however, is to ensure their implementation. It is essential to enable private enterprises to truly feel tangible benefits, to genuinely experience the value and specific advantages of national policies."“许多支持性政策已经出台，”他在接受中国传媒集团采访时说。“但关键是要确保落实。要让民营企业真正感受到实实在在的好处，真正体会到国家政策的价值和具体优势。”reiteratevt.反复地说,重申n.反复地说,重申sectorn. 部门；部分；防御地段；防区；扇形，扇区；象限仪；函数尺holisticadj.全部的infrastructuren.基础设施;基础结构

Chinese policymakers will likely adopt a more pro-growth stance and strengthen "extraordinary countercyclical measures" to spur the economy amid pressing challenges from sluggish domestic demand and external uncertainties, economists said.经济学家表示，面对国内需求疲软、外部不确定性等紧迫挑战，中国政策制定者可能会采取更加倾向于经济增长的立场，并加强“超常规逆周期调节”以刺激经济。They anticipate a new round of stimulus packages focusing on driving domestic demand and boosting consumption to address domestic structural issues, offset the rising headwinds from a grimmer global environment and foster sustainable, high-quality growth in the long run.他们预计，新一轮刺激计划将侧重于拉动内需、促进消费，解决国内结构性问题，抵消全球环境恶化带来的日益加剧的逆风，促进长期的、可持续的高质量增长。The economists also said they believe that measures in the pipeline may include more public borrowing and spending, with a growing shift of policy emphasis to consumption, enhanced financial support for low-income households, and increased spending on the property sector through the buying back of land or by helping developers finish presold homes.经济学家还表示，他们认为即将出台的措施可能包括增加财政支出、政策重点逐渐转向消费、加强对低收入家庭的财政支持、通过回购土地或帮助开发商完成预售房屋来增加房地产行业支出。Their comments came as the market is closely watching how China will draw up growth targets and policies to revive the world's second-largest economy when China's top legislative and political advisory bodies meet for the annual two sessions in early March.这些评论发表之际，中国即将在3月初召开全国两会，而市场正密切关注中国会如何制定增长目标和政策，重振世界第二大经济体。Noting that the broader economy is still facing pressures from a harsher external environment and still-weak domestic demand, Sun Xuegong, director of the department of policy study and consultation at the Chinese Academy of Macroeconomic Research, said that policymakers will likely introduce a package of stimulus measures aimed at boosting market confidence and stabilizing expectations. The academy is part of the National Development and Reform Commission, the country's top economic regulator.中国宏观经济研究院决策咨询部主任孙学工指出，当前经济仍面临外部环境恶化、内需持续疲软的压力，政策制定者可能会推出一系列刺激措施，提振市场信心、稳定市场预期。中国宏观经济研究院是中国最高经济管理部门国家发展和改革委员会的直属研究机构。As authorities pledged to implement extraordinary countercyclical policies this year, Sun highlighted the need to expand fiscal expenditure, with policy focus shifting to spurring consumption.孙学工强调，由于政府已承诺今年实施超常规逆周期政策，有必要扩大财政支出，将政策重点转向刺激消费。"We need a comprehensive policy mix to boost consumption," Sun said in an interview with China Daily. "The government has already announced raising the pension level and providing subsidies to the low-income group. And this year, the country will extend the program of trade-in deals for consumer goods and expand the scope to more fields of consumption."孙学工在接受《中国日报》采访时表示：“我们需要一套综合政策来提振消费。政府已经宣布提高养老金水平，为低收入群体提供补贴。今年，中国还将延长消费品以旧换新计划，并将范围扩大到更多消费领域。”With a series of existing policies taking effect gradually and more supportive measures in the pipeline, Sun said he expects to see a pickup in consumption.孙学工表示，随着一系列现有政策逐步生效，更多支持性措施即将出台，预计消费将有所回升。At a study session held last week by the State Council, China's Cabinet, Premier Li Qiang emphasized boosting consumption and improving people's livelihoods through stronger and more targeted measures, in a bid to strengthen the fundamental role of consumption in driving economic development.2月21日，国务院常务会议召开。会议上，国务院总理李强强调，要通过更有力、更有针对性的措施提振消费、改善民生，增强消费在推动经济发展中的基础性作用。Wang Tao, chief China economist at UBS Investment Bank, said her team expects the government to ramp up fiscal spending to support consumption and the household sector, including more than doubling the size of the trade-in program to over 300 billion yuan ($41.3 billion), creating a subsidy program for families with young children, and increasing the payout level of residents' basic pension and the government contribution to basic social insurance.瑞银证券中国首席经济学家汪涛表示，我们团队预计政府将加大对消费及居民部门的财政支出，包括将消费品以旧换新规模扩大一倍以上至3000亿元人民币（413亿美元）、设立生育和育儿补贴计划、提高城乡居民基础养老金支付水平及政府对基本社保的财政补助水平。"These much-anticipated measures could gradually help underpin household confidence and unleash consumption potential in the long run," Wang said.汪涛表示：“这些市场期待已久的措施有助于逐步提振居民信心、释放长期消费增长潜力。”On the monetary front, Wang said she anticipates that the two sessions will follow the "moderately loose" monetary policy tone set during the Central Economic Work Conference in December, with an explicit call for lowering the funding cost of corporate financing and household credit, cutting reserve requirement ratios and policy rates and enhancing counter cyclical adjustments.汪涛表示，在货币政策方面，她预计两会或将维持2024年12月中央经济工作会议所提出的“适度宽松”的货币政策基调，包括明确要求降低企业融资及居民信贷成本、下调存款准备金率及政策利率、加强逆周期调节。Tian Xuan, associate dean of Tsinghua University's PBC School of Finance, said this year's economic growth target will likely remain at "around 5 percent", the same as last year, reflecting the continuity and consistency of policies and aligning with the country's aspiration that its per capita GDP would reach the level of a moderately developed economy by 2035.清华大学五道口金融学院副院长田轩表示，今年的经济增长目标可能仍保持与去年持平的“5%左右”，体现政策的连续性和一致性，符合中国到2035年人均国内生产总值达到中等发达国家水平的愿望。The expectation of an unchanged growth target comes as China's major economic hubs, such as Beijing and Shanghai as well as Guangdong province, have announced GDP growth goals of around 5 percent for the year.北京、上海、广东等中国主要经济中心已宣布今年GDP增长目标为5%左右，因此预期今年经济增长目标不变。"It would be a goal that we need to strive for and reach with extra effort, which can effectively inspire all the people across the country to work hard together," said Tian, who expects this year's budget deficit-to-GDP ratio to increase to 4 percent or higher.田轩预计今年财政赤字率将提高至4%或以上，他表示：“这将是一个我们需要争取并付出额外努力才能实现的目标，可以有效激励全国人民共同努力。”Lu Ting, chief China economist at Nomura, said a higher fiscal deficit ratio would allow the central government to issue more bonds, ramp up transfers to local governments and alleviate fiscal pressures.野村证券中国区首席经济学家陆挺表示，增加财政赤字率可以让中央政府发行更多债券，增加给地方政府的转移支付，缓解财政压力。Lu said the fiscal stimulus package will likely focus on areas including funding for a trade-in program for equipment upgrades and consumer goods, spending on the property sector through the buying back of land or by helping developers finish presold homes, and financial support for low-income households as well as funding to encourage childbirth.陆挺表示，财政刺激计划可能重点关注以下几个领域：为设备升级和消费品以旧换新计划提供资金；通过回购土地或帮助开发商完成预售房屋来增加房地产行业的支出；为低收入家庭提供财政支持；为鼓励生育提供资金。"The Chinese economy may get off to a relatively good start.…We expect year-on-year real GDP growth to stay at 5 percent in the first quarter," he said.他表示：“中国经济可能迎来一个相对良好的开局……我们预计第一季度实际GDP同比增长率将保持在5%。”The breakthrough of China's homegrown artificial intelligence model DeepSeek has triggered a stock rally that may boost investment and consumption, while the expansion of the trade-in program is stimulating sales of digital goods, he added.他补充说，中国自主研发的人工智能模型DeepSeek的突破性成果引发股市上涨，这可能会促进投资和消费，而扩大以旧换新范围也在刺激数码产品的销售。explicitadj.清楚明白的；明确的

The Singapore Leopard Cat, may be in a wild area near you. This relatively unknown and shy "big cat" has several habitats around Singapore and is highly endangered. With around 50 animals estimated to live here, Vilma D'Rozario & Carmen Pang, co-founders of Singapore Wildcat Action Group (SWAG), other researchers, and Desmond Lee, Minister for National Development of Singapore, are working hard to make sure the local organizations and citizens know about this cat. In our “Saturday Morning Show” Sit-Down Conversation - host Glenn van Zutphen and co-host Neil Humphreys find out more about this reclusive, beautiful species and how to give it a safe island home.See omnystudio.com/listener for privacy information.

China encourages foreign businesses to expand investment in sectors including advanced manufacturing, modern services, high-tech industries and energy conservation, further advancing its economic openness and innovation-driven growth, government officials said on Thursday.2月20日，政府官员表示，中国鼓励外资企业在先进制造业、现代服务业、高新技术产业、节能环保等领域扩大投资，进一步推动经济开放和创新驱动发展。Speaking at a news conference in Beijing, they said that China will soon introduce the 2025 edition of its industry catalog encouraging foreign investment. The new catalog will further expand market access for foreign investors in key industrial sectors.在北京举行的新闻发布会上，政府官员表示中国将尽快发布2025年版《鼓励外商投资产业目录》。新版目录将进一步扩大外资在重点产业领域的市场准入。Their remarks came after the State Council, China's Cabinet, issued an action plan on Wednesday aimed at stabilizing foreign investment this year.2月19日，国务院公布《2025年稳外资行动方案》，做好今年年稳外资工作。随后相关部门作出上述回应。As part of the plan, China will lift restrictions on domestic loans for foreign-invested businesses, allowing them to use domestic financing for equity investments. It will also support pilot regions in effectively implementing opening-up policies related to areas such as telecommunications, biotechnology and wholly foreign-owned hospitals, offering comprehensive services to facilitate foreign-invested projects in these sectors.方案提出，中国将取消外商投资性公司使用境内贷款限制，允许外商投资性公司使用境内贷款开展股权投资。支持试点地区抓好增值电信、生物技术、外商独资医院领域开放试点政策宣贯落实，对相关领域外商洽谈项目开展“专班式”跟踪服务。Hua Zhong, head of the department of foreign capital and overseas investment at the National Development and Reform Commission, said the new catalog will reflect China's economic growth trends and industrial advancements.国家发展改革委利用外资和境外投资司负责人华中表示，新版目录将反映中国的经济增长趋势和产业进步。"We will collaborate with other government branches to align with high-standard international economic and trade rules in key areas, including intellectual property protection, industrial subsidies, labor rights and government procurement, ensuring compatibility in regulations, management and standards," Hua said.华中说：“我们将与其他政府部门合作，在产权保护、产业补贴、劳动权益、政府采购等重点领域，与高标准国际经贸规则接轨，确保在法规、管理、标准方面的兼容性。”Wang Xiaohong, a researcher at the China Center for International Economic Exchanges in Beijing, said the new catalog is expected to further attract capital into emerging industries, reinforcing China's position as a global hub for high-tech and green development.北京中国国际经济交流中心研究员王晓红表示，新版目录有望进一步吸引资本流入新兴产业，巩固中国作为全球高科技中心和绿色发展中心的地位。Yao Jun, director of the department of planning at the Ministry of Industry and Information Technology, said the government will actively support entrepreneurs and investors from all countries in innovating and starting businesses in China, encouraging foreign companies to establish research and development centers and collaborate with domestic enterprises.工业和信息化部规划司司长姚珺表示，政府将积极支持各国企业家和投资人来华创新创业，鼓励外资企业在华设立研发中心，并与国内企业开展合作。China will promote foreign participation in digital development, green transition and smart manufacturing, as well as facilitate localization of advanced technologies and solutions, Yao added.姚珺补充说，中国将支持外资企业参与中国制造业的数字化、绿色化和智能化发展进程，加快先进技术和解决方案在中国的落地和应用。Foreign-invested businesses in China play a significant role in the economy, contributing one-seventh of tax revenue, about one-third of foreign trade and half of electromechanical and high-tech product exports, as well as creating nearly 7 percent of employment opportunities, according to data from the Ministry of Commerce.据商务部数据显示，在华外资企业在中国经济中发挥着重要作用，贡献了七分之一的税收、约三分之一的进出口、二分之一的机电产品和高新技术产品的出口，创造了近7%的就业机会。To date, foreign investment in China spans 20 industrial categories and 115 major sectors. In the manufacturing sector alone, foreign capital is present in 31 major categories and 548 subcategories.截至目前，外商在华投资已覆盖了20个行业门类、115个行业大类。仅在制造业领域，就有31个大类和548个小类都有外商投资。To further enhance national treatment for foreign-invested enterprises, Ling Ji, vice-minister of commerce and deputy China international trade representative, said the country is actively revising its Government Procurement Law and exploring specific standards for "domestic production" by foreign companies in this area.商务部副部长兼国际贸易谈判副代表凌激表示，为进一步提升外资企业的国民待遇，中国正积极推进政府采购法的修订，研究制定外资企业在政府采购领域“中国境内生产”的具体标准。Despite rising geopolitical tensions and the growing trend of unilateralism and protectionism, Ling emphasized that China's vast market, highly efficient industrial and supply chains, and continuously evolving innovation ecosystem provide a strong foundation and fertile ground for multinational companies to invest and expand in the country.凌激强调，尽管地缘政治紧张局势加剧，单边主义、保护主义明显上升，但中国超大规模市场、完备高效的产业链供应链、持续优化的创新环境，这些都为跨国公司在华投资和扩张提供了坚实的基础和良好的土壤。Noting that the United States' tariff hikes disrupt normal China-US economic and trade cooperation and fail to address its own challenges, Zhu Bing, director of the Commerce Ministry's department of foreign investment administration, said that such measures not only harm foreign-invested enterprises in China, including US companies, but also erode multinational corporations' investment confidence and decision-making abilities.商务部外国投资管理司司长朱冰指出，美国加征关税的做法不仅对中美正常经贸合作造成破坏，也无益于解决自身的问题，既不利于包括美资企业在内的在华外资企业发展，也会干扰跨国公司的投资信心和决策能力。"While some foreign, labor-intensive businesses are adjusting their global footprint and reallocating production capacity based on their strategic priorities and comparative advantages, many multinational corporations are evolving their investment strategies to stay competitive in China," Zhu said.朱冰表示：“虽然有一部分劳动密集型外资企业正在根据其战略重点和国内外比较优势，在全球范围内调整布局、重新分配产能，但许多跨国公司正在调整其投资策略，以保持在中国市场的竞争力。”Several foreign companies have expanded production lines for high-tech products, including high-end displays and new energy batteries, signaling a shift toward advanced manufacturing. Others have increased investment in their research and development centers in China, further upgrading their innovation capabilities.有的外资企业增加了高端显示、新能源电池等一些高技术产品的生产线，向先进制造业转变。还有的企业扩大了在华研发中心的投资，进一步提升其创新能力。For example, Panasonic Holdings Corp of Japan will start construction of a factory in Shanghai in July to produce semiconductor packaging materials, with an investment of 120 million yuan ($16.5 million).例如，日本松下控股公司宣布其生产半导体封装材料的新工厂将于7月在上海破土动工，投资额为1.2亿元人民币（1650万美元）。"China's well-developed supply chain, supportive policies, abundant R&D talent, continuously advancing innovation ecosystem and vast market potential make it an attractive destination for multinational companies," said Tetsuro Homma, executive vice-president of Panasonic.松下执行副总裁本间哲郎表示：“中国完备的供应链、支持性政策、丰富的研发人才、不断优化的创新环境和巨大的市场潜力，让它成为对跨国公司颇具吸引力的投资目的地。”Data from the Ministry of Industry and Information Technology shows that China saw actual use of foreign investment in the manufacturing sector exceed 220 billion yuan in 2024, after it removed all market access restrictions for foreign investors in the sector last year.据工信部数据显示，2024年中国全面取消制造业外资准入限制后，这一年制造业实际使用外资超过了2200亿元人民币。equityn.（公司的）股本；股票

From the U.S. lead negotiator on climate change, an inside account of the seven-year negotiation that culminated in the Paris Climate Agreement in 2015—and where the international climate effort needs to go from here. The 2015 Paris Agreement on climate change was one of the most difficult and hopeful achievements of the twenty-first century: 195 nations finally agreed, after 20 years of trying, to establish an ambitious, operational regime to address one of the greatest civilizational challenges of our time.  In Landing the Paris Climate Agreement: How It Happened, Why It Matters, and What Comes Next (MIT Press, 2024), Todd Stern, the chief US negotiator on climate change, provides an engaging account from inside the rooms where it happened: the full, charged, seven-year story of how the Paris Agreement came to be, following an arc from Copenhagen, to Durban, to the secret U.S.-China climate deal in 2014, to Paris itself. With a storyteller's gift for character, suspense, and detail, Stern crafts a high-stakes narrative that illuminates the strategy, policy, politics, and diplomacy that made Paris possible. Introducing readers to a vivid cast of characters, including Xie Zenhua, Vice Minister of China's National Development and Reform Commission, Bo Lidegaard, chief strategist for Denmark's Prime Minster, and Indian minister Jairam Ramesh, Stern, who worked alongside President Barack Obama and Secretaries of State John Kerry and Hillary Clinton, depicts the pitfalls and challenges overcome, the shifting alliances, the last-minute maneuvering, and the ultimate historic success. The book concludes with a final chapter that describes key developments since 2015 and the author's reflections on what needs to be done going forward to contain the climate threat. A unique peek behind the curtain of one of the most important international agreements of our time, Landing the Paris Climate Agreement is a vital and fascinating read for anyone who cares about the future of our one shared home. Todd Stern is a nonresident senior fellow at the Brookings Institution and a nonresident distinguished fellow at the Asia Society, concentrating on climate change. He served from January 2009 until April 2016 as the Special Envoy for Climate Change at the Department of State, where he was President Barack Obama's chief climate negotiator. Caleb Zakarin is editor at the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

From the U.S. lead negotiator on climate change, an inside account of the seven-year negotiation that culminated in the Paris Climate Agreement in 2015—and where the international climate effort needs to go from here. The 2015 Paris Agreement on climate change was one of the most difficult and hopeful achievements of the twenty-first century: 195 nations finally agreed, after 20 years of trying, to establish an ambitious, operational regime to address one of the greatest civilizational challenges of our time.  In Landing the Paris Climate Agreement: How It Happened, Why It Matters, and What Comes Next (MIT Press, 2024), Todd Stern, the chief US negotiator on climate change, provides an engaging account from inside the rooms where it happened: the full, charged, seven-year story of how the Paris Agreement came to be, following an arc from Copenhagen, to Durban, to the secret U.S.-China climate deal in 2014, to Paris itself. With a storyteller's gift for character, suspense, and detail, Stern crafts a high-stakes narrative that illuminates the strategy, policy, politics, and diplomacy that made Paris possible. Introducing readers to a vivid cast of characters, including Xie Zenhua, Vice Minister of China's National Development and Reform Commission, Bo Lidegaard, chief strategist for Denmark's Prime Minster, and Indian minister Jairam Ramesh, Stern, who worked alongside President Barack Obama and Secretaries of State John Kerry and Hillary Clinton, depicts the pitfalls and challenges overcome, the shifting alliances, the last-minute maneuvering, and the ultimate historic success. The book concludes with a final chapter that describes key developments since 2015 and the author's reflections on what needs to be done going forward to contain the climate threat. A unique peek behind the curtain of one of the most important international agreements of our time, Landing the Paris Climate Agreement is a vital and fascinating read for anyone who cares about the future of our one shared home. Todd Stern is a nonresident senior fellow at the Brookings Institution and a nonresident distinguished fellow at the Asia Society, concentrating on climate change. He served from January 2009 until April 2016 as the Special Envoy for Climate Change at the Department of State, where he was President Barack Obama's chief climate negotiator. Caleb Zakarin is editor at the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

From the U.S. lead negotiator on climate change, an inside account of the seven-year negotiation that culminated in the Paris Climate Agreement in 2015—and where the international climate effort needs to go from here. The 2015 Paris Agreement on climate change was one of the most difficult and hopeful achievements of the twenty-first century: 195 nations finally agreed, after 20 years of trying, to establish an ambitious, operational regime to address one of the greatest civilizational challenges of our time.  In Landing the Paris Climate Agreement: How It Happened, Why It Matters, and What Comes Next (MIT Press, 2024), Todd Stern, the chief US negotiator on climate change, provides an engaging account from inside the rooms where it happened: the full, charged, seven-year story of how the Paris Agreement came to be, following an arc from Copenhagen, to Durban, to the secret U.S.-China climate deal in 2014, to Paris itself. With a storyteller's gift for character, suspense, and detail, Stern crafts a high-stakes narrative that illuminates the strategy, policy, politics, and diplomacy that made Paris possible. Introducing readers to a vivid cast of characters, including Xie Zenhua, Vice Minister of China's National Development and Reform Commission, Bo Lidegaard, chief strategist for Denmark's Prime Minster, and Indian minister Jairam Ramesh, Stern, who worked alongside President Barack Obama and Secretaries of State John Kerry and Hillary Clinton, depicts the pitfalls and challenges overcome, the shifting alliances, the last-minute maneuvering, and the ultimate historic success. The book concludes with a final chapter that describes key developments since 2015 and the author's reflections on what needs to be done going forward to contain the climate threat. A unique peek behind the curtain of one of the most important international agreements of our time, Landing the Paris Climate Agreement is a vital and fascinating read for anyone who cares about the future of our one shared home. Todd Stern is a nonresident senior fellow at the Brookings Institution and a nonresident distinguished fellow at the Asia Society, concentrating on climate change. He served from January 2009 until April 2016 as the Special Envoy for Climate Change at the Department of State, where he was President Barack Obama's chief climate negotiator. Caleb Zakarin is editor at the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/world-affairs

From the U.S. lead negotiator on climate change, an inside account of the seven-year negotiation that culminated in the Paris Climate Agreement in 2015—and where the international climate effort needs to go from here. The 2015 Paris Agreement on climate change was one of the most difficult and hopeful achievements of the twenty-first century: 195 nations finally agreed, after 20 years of trying, to establish an ambitious, operational regime to address one of the greatest civilizational challenges of our time.  In Landing the Paris Climate Agreement: How It Happened, Why It Matters, and What Comes Next (MIT Press, 2024), Todd Stern, the chief US negotiator on climate change, provides an engaging account from inside the rooms where it happened: the full, charged, seven-year story of how the Paris Agreement came to be, following an arc from Copenhagen, to Durban, to the secret U.S.-China climate deal in 2014, to Paris itself. With a storyteller's gift for character, suspense, and detail, Stern crafts a high-stakes narrative that illuminates the strategy, policy, politics, and diplomacy that made Paris possible. Introducing readers to a vivid cast of characters, including Xie Zenhua, Vice Minister of China's National Development and Reform Commission, Bo Lidegaard, chief strategist for Denmark's Prime Minster, and Indian minister Jairam Ramesh, Stern, who worked alongside President Barack Obama and Secretaries of State John Kerry and Hillary Clinton, depicts the pitfalls and challenges overcome, the shifting alliances, the last-minute maneuvering, and the ultimate historic success. The book concludes with a final chapter that describes key developments since 2015 and the author's reflections on what needs to be done going forward to contain the climate threat. A unique peek behind the curtain of one of the most important international agreements of our time, Landing the Paris Climate Agreement is a vital and fascinating read for anyone who cares about the future of our one shared home. Todd Stern is a nonresident senior fellow at the Brookings Institution and a nonresident distinguished fellow at the Asia Society, concentrating on climate change. He served from January 2009 until April 2016 as the Special Envoy for Climate Change at the Department of State, where he was President Barack Obama's chief climate negotiator. Caleb Zakarin is editor at the New Books Network. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/environmental-studies

Electrifying Indonesia: Technology and Social Justice in National Development (U Wisconsin Press, 2023) tells the story of the entanglement of politics and technology during Indonesia's rapid post-World War II development. As a central part of its nation-building project, the Indonesian state sought to supply electricity to the entire country, bringing transformative socioeconomic benefits across its heterogeneous territories and populations. While this project was driven by nationalistic impulses, it was also motivated by a genuine interest in social justice. The entanglement of these two ideologies-nation-building and equity-shaped how electrification was carried out, including how the state chose the technologies it did. Private companies and electric cooperatives vied with the hegemonic state power company to participate in a monumental undertaking that would transform daily life for all Indonesians, especially rural citizens. In this innovative volume, Anto Mohsin brings Indonesian studies together with science and technology studies to understand a crucial period in modern Indonesian history. He shows that attempts to illuminate the country were inseparable from the effort to maintain the new nation-state, chart its path to independence, and legitimize ruling regimes. In exchange for an often dramatically improved standard of living, people gave their votes, and their acquiescence, to the ruling government. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

Electrifying Indonesia: Technology and Social Justice in National Development (U Wisconsin Press, 2023) tells the story of the entanglement of politics and technology during Indonesia's rapid post-World War II development. As a central part of its nation-building project, the Indonesian state sought to supply electricity to the entire country, bringing transformative socioeconomic benefits across its heterogeneous territories and populations. While this project was driven by nationalistic impulses, it was also motivated by a genuine interest in social justice. The entanglement of these two ideologies-nation-building and equity-shaped how electrification was carried out, including how the state chose the technologies it did. Private companies and electric cooperatives vied with the hegemonic state power company to participate in a monumental undertaking that would transform daily life for all Indonesians, especially rural citizens. In this innovative volume, Anto Mohsin brings Indonesian studies together with science and technology studies to understand a crucial period in modern Indonesian history. He shows that attempts to illuminate the country were inseparable from the effort to maintain the new nation-state, chart its path to independence, and legitimize ruling regimes. In exchange for an often dramatically improved standard of living, people gave their votes, and their acquiescence, to the ruling government. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/history

Electrifying Indonesia: Technology and Social Justice in National Development (U Wisconsin Press, 2023) tells the story of the entanglement of politics and technology during Indonesia's rapid post-World War II development. As a central part of its nation-building project, the Indonesian state sought to supply electricity to the entire country, bringing transformative socioeconomic benefits across its heterogeneous territories and populations. While this project was driven by nationalistic impulses, it was also motivated by a genuine interest in social justice. The entanglement of these two ideologies-nation-building and equity-shaped how electrification was carried out, including how the state chose the technologies it did. Private companies and electric cooperatives vied with the hegemonic state power company to participate in a monumental undertaking that would transform daily life for all Indonesians, especially rural citizens. In this innovative volume, Anto Mohsin brings Indonesian studies together with science and technology studies to understand a crucial period in modern Indonesian history. He shows that attempts to illuminate the country were inseparable from the effort to maintain the new nation-state, chart its path to independence, and legitimize ruling regimes. In exchange for an often dramatically improved standard of living, people gave their votes, and their acquiescence, to the ruling government. Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/southeast-asian-studies

In this episode of The Week in Markets, equities research analyst Jen-Ai Chua highlights how stronger than expected non-farm payrolls data has spooked US markets, while the much awaited press conference by China's National Development and Reform Commission (NDRC) on Tuesday disappointed. More economic data releases in upcoming weeks should provide greater clarity as to the likelihood of ‘no landing' in the US and the slowdown in China. We expect the Asian REITs to continue doing well as expectations of lower rates remain intact.This episode was recorded on October 8, 2024.

S&P futures are pointing to a softer open today. Asian equities were broadly higher today, led by Japan's Nikkei and the Hang Seng. European equity markets are lower in early trades. Hong Kong-listed Chinese stocks extended their recent upward momentum today. The sustainability of this rally is believed to depend on the scale of fiscal responses and signs of macroeconomic stabilization. China's National Development and Reform Commission is expected to outline policies to support economic growth on Tuesday, with expectations of a fiscal package up to 2 trillion yuan. For this week, key macro events include the release of the FOMC minutes and US CPI data, both on Wednesday. The US CPI is anticipated to show further moderation in inflation, although strong August payrolls have reduced the likelihood of another rate cut in November. Companies Mentioned: Vista Outdoor, Wynn Resorts, Pfizer

Hurricane Beryl made landfall along the Texas coastline this past week, devastating the area and leaving millions of people without power.   Assistant Executive Director of National Development at Minuteman Response John Lebeau discusses the organization's mission to offer life-saving services to those who've been impacted by disasters. Later, he shares some of stories of those he's helped and reflects on the impact it has left on him. Learn more about your ad choices. Visit megaphone.fm/adchoices