China committed to restoring trust in global governance, Xinhua think tank reports

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Source: People's Republic of China in Russian – People's Republic of China in Russian –

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Source: People's Republic of China – State Council News

Beijing, February 24 (Xinhua) — China is helping to shift the international community away from "positional confrontation" and toward "problem-solving," thereby restoring trust in global governance, according to a report published Tuesday by the Xinhua Analytical Center.

Finding common ground while embracing differences is one of the key principles of traditional Chinese philosophy and a crystallization of Chinese wisdom, according to the report, “Upholding International Justice and Coping with Global Chaos: A Chinese Solution to Global Governance.”

It is emphasized that one of the most pressing challenges facing global governance today is the steady erosion of consensus on specific issues under the influence of ideological differences and geopolitical rivalry.

"In promoting the Global Governance Initiative, China consistently emphasizes cooperation as the primary goal and strives for maximum consensus despite existing differences. Whether in development, security, climate change, or public health, China advocates respect for the legitimate concerns of all countries, opposes exaggerating or absolutizing differences, and promotes the search for mutually acceptable solutions through dialogue and consultation," the report states.

China emphasizes that consensus should be based on common interests and shared responsibility.

"While countries may pursue different development paths, their interests are deeply intertwined. By emphasizing a shared future and shared responsibility, China seeks to shift the emphasis in consensus-building from value-based declarations to action-oriented cooperation, making global governance more responsive to real-world challenges and more effective in practice," the report notes.

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China firmly upholds the authority and integrity of international law, according to a Xinhua Analytical Center report.

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Source: People's Republic of China in Russian – People's Republic of China in Russian –

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Source: People's Republic of China – State Council News

Beijing, February 24 (Xinhua) — China firmly upholds the authority and integrity of international law, according to a report published Tuesday by the Xinhua Analytical Center.

“The purposes and principles of the UN Charter constitute the universally recognized basic norms of international relations and form the core of the rule of international law. China has consistently and unconditionally upheld these principles,” notes the report, titled “Upholding International Justice and Jointly Overcoming the Existing World Chaos: China’s Solution to Global Governance.”

It is stated that China advocates the joint protection of the fundamental principles of international law, such as non-interference in internal affairs and the peaceful settlement of disputes, and supports the UN in fulfilling its leading role in norm-setting activities in the field of international law.

The report's authors note that China calls for fairness in the rule of international law and insists that all countries receive equal treatment in the interpretation and application of international norms.

“China opposes ‘Western-centrism’ in the rule of international law, rejects the monopolization of the international law-making process by a narrow circle of countries, opposes the forced adoption of legislative acts in the absence of a broad consensus, and does not accept double standards and the frequently practiced policy of ‘withdrawal from groups and breaking agreements,’” the report emphasizes. –0–

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The first volume of the "Chronicle of Public Administration in the New Era" has been published in China.

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Source: People's Republic of China – State Council News

Beijing, February 24 /Xinhua/ — China's Xinhua Chubanshe Publishing House has released the first volume of the book "Chronicle of Public Administration in the New Era."

The book, compiled by Xinhua News Agency, is available in Chinese and English and is distributed to readers both in China and abroad.

Since the 18th National Congress of the Communist Party of China, its Central Committee, with Comrade Xi Jinping at its core, has, guided by the great spirit of historical initiative, possessed enormous political courage and a strong sense of responsibility, made historic achievements and carried out historic transformations in the cause of the Party and the state.

In the context of the great practice of the new era, Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era has been formed, serving as a scientifically based guide for the comprehensive advancement of the building of a powerful country and the great cause of national rejuvenation through Chinese-style modernization.

Xinhua correspondents have produced numerous documentaries that reflect General Secretary Xi Jinping's profound ideas, broad practical steps, heartfelt feelings, and brilliant achievements in his governance.

The first volume of "Chronicles of Governance in the New Era" includes 26 essays by Xinhua and 41 news photographs by General Secretary Xi Jinping. This lavishly illustrated publication vividly depicts Xi's exceptional journey as a visionary leader leading China toward national rejuvenation, and demonstrates the power of truth and the practice of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era.

A symposium on global governance and a launch ceremony for the English-language version of this book were held in Geneva, Switzerland on Tuesday. Guests at the event praised China's research and ideas on governance in the new era and expressed their willingness to further deepen exchanges and cooperation with China in the area of global governance.

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The number and value of online payments in China increased during the recent Spring Festival holiday.

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Source: People's Republic of China – State Council News

BEIJING, February 24 (Xinhua) — The number and value of online transactions in China increased significantly during the recently concluded Spring Festival (Chinese Lunar New Year) holiday, according to data released Tuesday by the People's Bank of China (PBOC).

According to the PBOC, between February 15 and 23, China's clearing agency NetsUnion and Chinese payment services giant China UnionPay processed about 39.3 billion online transactions worth a total of 13.12 trillion yuan (about $1.9 trillion).

Compared with the previous Spring Festival holidays, the average daily number of transactions increased by 37.45%, and their average daily value increased by 19.26%.

Central Bank data show that during the past holidays, the average daily volume of transactions made by incoming travelers using the two platforms increased by 78.1 percent, and the amount by 44.33 percent year-on-year.

This year's Spring Festival falls on February 17th. Typically, this period sees a surge in consumer activity as Chinese people return home for family reunions or travel to celebrate the holiday.

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Reference: German Chancellor Friedrich Merz

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Source: People's Republic of China – State Council News

BEIJING, Feb. 24 (Xinhua) — At the invitation of Chinese State Council Premier Li Qiang, German Chancellor Friedrich Merz will pay an official visit to China from Feb. 25 to 26.

F. Merz was born in 1955 in Brilon, North Rhine-Westphalia, Germany. He graduated from the University of Bonn and the University of Marburg.

Previously, he served as head of the Christian Democratic Union and Christian Social Union (CDU/CSU) parliamentary faction in the Bundestag (Germany's unicameral parliament). In February 2022, he was elected Chairman of the CDU. In May 2025, he assumed the office of Chancellor of Germany.

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Breaking: Iran and the US have a historic opportunity to reach an unprecedented agreement, says Iranian Foreign Minister

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Source: People's Republic of China – State Council News

TEHRAN, Feb. 24 (Xinhua) — Iranian Foreign Minister Abbas Araghchi said on Tuesday that Iran and the United States "have a historic opportunity to reach an unprecedented agreement that addresses mutual concerns and serves mutual interests."

He made the corresponding statement on the social network X, adding that a deal “is achievable, but only if diplomacy is given priority.” –0–

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Iran's IRGC conducted exercises on the country's southern coast, media reports.

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Source: People's Republic of China – State Council News

Tehran, February 24 (Xinhua) — Iran's Islamic Revolutionary Guard Corps (IRGC) conducted combined arms exercises on the country's southern coast, the semi-official Iranian news agency Fars reported on Tuesday.

According to the news agency, several units of the IRGC ground forces participated in the exercises, employing modern combat technologies and cutting-edge tactics against existing threats. The date of the exercises was not specified.

During the exercises, Iranian-made micro-drones and loitering munitions of the Rezvan type provided target detection, while Shahed-136 kamikaze drones carried out strikes on designated objects.

The armed forces also practiced a "decisive defense" scenario for the country's coastline and islands, while IRGC ground forces special forces conducted operations to prevent the enemy from approaching Iran's southern coast, the news agency added.

The exercises also involved missile units using new and diverse systems, including a missile system recently introduced into service with the IRGC ground forces.

The exercises took place amid heightened tensions between Iran and the United States, as well as a growing American military presence in West Asia. A third round of indirect talks between the two countries on the Iranian nuclear program is scheduled for February 26 in Geneva, Switzerland.

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Moscow and St. Petersburg lead Russian regions in quality of life rankings, according to media reports.

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Source: People's Republic of China – State Council News

St. Petersburg, February 24 /Xinhua/ — Moscow and St. Petersburg rank first and second in the 2025 quality of life rankings among Russian regions, RIA Novosti reported on Tuesday, citing an expert study.

The rating was reportedly based on a comprehensive assessment of 66 indicators assessing the actual state of various aspects of living conditions and the social situation.

Moscow, St. Petersburg, and the Moscow Region continue to hold the top spots on the list. These three regions have topped the rankings for many years now and remain significantly ahead of the other Russian regions that follow them.

The top ten also includes Krasnodar Krai, the Republic of Tatarstan, Rostov, Leningrad, Kaliningrad, Samara and Voronezh regions.

The top ten regions are characterized by a high level of economic development, accounting for over 45 percent of the total GRP of the Russian Federation's constituent entities. These regions are home to 50.2 million people, accounting for 34 percent of Russia's total population. These regions traditionally rank highly in the socioeconomic status rankings of their regions.

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China and the Republic of Korea have settled their dispute over hot-rolled steel in accordance with WTO rules, according to the Ministry of Commerce of the People's Republic of China.

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Source: People's Republic of China – State Council News

Beijing, February 24 (Xinhua) — China and the Republic of Korea (ROK) have properly settled their dispute over hot-rolled steel in accordance with World Trade Organization (WTO) rules, the Chinese Ministry of Commerce announced on Tuesday.

As the department noted, this demonstrates the countries' strong commitment to multilateralism and the protection of free and fair trade, serves as another example of dispute resolution through dialogue and consultation, and brings positive energy to the stabilization of international trade and economic cooperation.

The Ministry of Commerce reported that on February 23, in a final decision on the anti-dumping case against Chinese hot-rolled steel products, Kazakhstan announced that it had reached an agreement with China on a price commitment scheme.

As noted by the Chinese Ministry, industry circles of both countries welcomed this agreement, recognizing that the replacement of anti-dumping duties with price commitments is in the interests of the industrial circles of the two countries and contributes to increased stability and predictability in trade in ferrous metallurgy products between China and the Republic of Kazakhstan.

The economic ties between China and the Republic of Korea are close, and their production and supply chains are deeply intertwined, which facilitates mutually beneficial cooperation, the department emphasized.

The Ministry of Commerce added that the resolution of this issue reflects mutual respect, understanding, and consideration of each other's concerns, sending a positive signal for the consolidation and deepening of bilateral trade and economic cooperation.

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China attaches great importance to trade and economic cooperation with Germany – Ministry of Commerce of the People's Republic of China

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Source: People's Republic of China – State Council News

Beijing, February 24 (Xinhua) — China places great importance on trade and economic cooperation with Germany, the Chinese Ministry of Commerce announced on Tuesday.

According to the ministry's official representative, over the more than 50 years since the establishment of diplomatic relations between China and Germany, bilateral trade and economic cooperation has steadily deepened.

As the department noted, Germany remains China's largest trading partner and the main source of foreign investment in Europe, while the two countries have achieved a deep level of industrial integration.

The ministry noted that in recent years, trade turnover between China and Germany has consistently exceeded $200 billion per year, while the volume of bilateral cumulative investment has exceeded $65 billion. Each of these figures represents almost a quarter of the corresponding figures for China's interaction with the European Union.

A spokesperson for the Ministry of Commerce announced that German Chancellor Friedrich Merz will lead a high-level trade delegation to China, comprising the executives of approximately 30 leading German companies in key sectors such as the automotive industry, chemicals, biopharmaceuticals, mechanical engineering, and the circular economy. According to the Chinese ministry spokesperson, this underscores Germany's firm commitment to deepening bilateral trade and economic relations.

The Ministry of Commerce emphasized that China attaches great importance to trade and economic cooperation with Germany and is actively preparing for joint events such as the meeting of the China-Germany Economic Consultative Council to provide a platform for dialogue and cooperation between enterprises of the two sides. –0–

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