Asia

The Boao Forum for Asia has wrapped up its regional meeting in Saudi Arabia. It is Riyadh's second consecutive year to host the meeting. CGTN's Adel EL Mahrouky talked to the CEO of Saudi petrochemical giant SABIC, who praised the forum's role in strengthening cooperation with China. ADEL EL MAHROUKY, Riyadh, Saudi Arabia "So how is it significant for Saudi Arabia to host it for the second consecutive year?" ABDULRAHMAN AL-FAGEEH, CEO and BFA Board Member, SABIC "Yeah. First of all, I think it's an opportunity for our Asian partners to come and to see what is in Saudi Arabia. There's a lot of opportunity that it will attract. It is one of the largest growth in terms of GDP, in addition to the opportunities that so many opportunities in all aspects: in building and constructions,...

China’s net gold imports via Hong Kong in October fell about 64% from September, Hong Kong Census and Statistics Department data showed on Tuesday. As the world’s leading gold consumer, China’s purchasing activities can significantly influence global gold markets. The Hong Kong data may not provide a complete picture of Chinese purchases, as gold is also imported via Shanghai and Beijing. Net imports via Hong Kong to China for October stood at 8.02 metric tons, compared with 22.047 tons in September. China’s total gold imports via Hong Kong reached 30.08 tons in October, down 17% from 36.275 tons in September. “What we’re really seeing here is a weakness in the Chinese demand while they have been firmly strong earlier in the year,” said Ross Norman, an independent analy...

Every few years since 1953, the Chinese government has unveiled a new master strategy for its economy: the all-important five-year plan. For the most part, these blueprints have been geared at spurring growth and unity as the nation transformed from a rural, agrarian economy to an urbanized, developed powerhouse. The task that faced China’s leaders as they met in early October 2025 to map out their 15th such plan was, however, complicated by two main factors: sluggish domestic growth and intensifying geopolitical rivalry. Their solution? More of the same. In pledging to deliver “high-quality development” through technological self-reliance, industrial modernization and expanded domestic demand, Beijing is doubling down on a state-led model that has powered its rise in recent ...

Ant International, the digital payments division of Ant Group from Hangzhou, China, has agreed with Abdul Latif Jameel Finance from Riyadh to jointly identify fintech projects in the Kingdom. The timing is no coincidence. Ant International, a global provider of digital payment and financial technologies headquartered in Singapore, and Abdul Latif Jameel Finance, a leading provider of innovative financing solutions regulated by the Saudi Central Bank (SAMA), have signed a Memorandum of Understanding. The aim of the partnership is to promote the growth and competitiveness of micro, small, and medium-sized enterprises (MSMEs) in Saudi Arabia (population 35.3 million) through advanced digital services. According to SAMA, by the end of the second quarter of 2025, 79 percent of paymen...

China’s top leadership has made “technological self-reliance and self-strengthening” a key goal in a proposal for the next five-year plan, as it grapples with export controls from the West amid an intensifying global tech race. It is the first time in at least a decade that technological self-reliance has been set as a major goal for the country’s social and economic development. The goal was included in a detailed proposal for China’s 15th five-year plan from 2026 to 2030, which was released on Tuesday by the Central Committee of the ruling Communist Party following its fourth plenum last week. The full plan will be unveiled in March during the annual session of the top legislature. The proposal was released following a key political meeting last week....