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“10 plus 3” countries should continue the process of regional integration – Chinese Foreign Minister

Translation. Region: Russian Federal

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

KUALA LUMPUR, July 10 (Xinhua) — The more complex the international situation becomes, the more urgent it is for the Association of Southeast Asian Nations (ASEAN), China, Japan and the Republic of Korea (ROK) (the "10 plus 3" format) to remove obstacles and continue to advance the process of regional integration, Chinese Foreign Minister Wang Yi said in Kuala Lumpur on Thursday.

Wang Yi, who is also a member of the Politburo of the CPC Central Committee, made the statement during a meeting of foreign ministers in the “10 plus 3” format.

The Chinese diplomat noted that since the establishment of the “10 plus 3” cooperation mechanism, its participating countries have consistently strengthened their crisis response capacity, advanced the process of economic integration, and jointly created new impetus for development.

Focusing on development and promoting cooperation is the trend and leitmotif of current East Asian cooperation, Wang Yi emphasized, noting that at the same time, countries are facing challenges such as attacks by unilateralism and protectionism and abuse of customs duties by some major powers.

The Chinese Foreign Minister pointed to the need to continuously increase the momentum of cooperation and enhance the sustainability of development, putting forward four proposals for cooperation in the next stage.

First, build an integrated East Asia. We must firmly oppose the "building of walls and barriers." China is willing to work with all parties to implement the leaders' statement and continue to strengthen mutually beneficial cooperation in industrial and supply chains, Wang said.

Second, build a strong and sustainable East Asia. It is necessary to plan the future direction of regional financial cooperation. China hopes to work with all parties to find ways to update the mechanisms and raise the level of regional cooperation in the field of food security based on the active formation of an emergency rice reserve of the "10 plus 3" countries, the head of the Chinese Foreign Ministry noted.

Third, build an innovative and dynamic East Asia. We should seize the opportunities created by the new round of scientific and technological and industrial revolutions, and promote transformation and development through innovation, Wang Yi emphasized.

Fourth, build an East Asia with cultural and humanitarian connectivity. It is important to properly implement the CAMPUS Asia program and promote student exchanges and personnel training in the “10 plus 3” countries, the Chinese diplomat added.

Wang Yi said that regardless of changes in the external environment, China is willing to use its own stable development to inject new impetus into the overall development of the region, provide new opportunities, and jointly create a brighter future for East Asia.

ASEAN Foreign Ministers commended China, Japan and ROK for their support for ASEAN's central role.

They recalled that the “10 plus 3” mechanism was created in response to the Asian financial crisis, adding that cooperation in this format has been noticeably effective.

In the context of growing unilateralism, increasing tariff and trade barriers, and worsening geopolitical tensions, cooperation in the “10 plus 3” format is acquiring particular value, the heads of the ASEAN foreign policy agencies emphasized. According to them, this mechanism should continue to play a strategic leading role, promoting inclusive development and sustainable peace in the region. –0–

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China urges EU to view bilateral trade and economic relations without emotions and prejudices — Ministry of Commerce of the PRC

Translation. Region: Russian Federal

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, July 10 (Xinhua) — China on Thursday called on the European Union to view bilateral economic and trade relations without emotion and prejudice, recalling that this year marks the 50th anniversary of the establishment of diplomatic ties between China and the EU and will see important high-level exchanges.

Commenting on recent statements by European Commission President Ursula von der Leyen, Chinese Ministry of Commerce spokesperson He Yongqian said at a regular briefing for journalists that China hopes the European side will step up communication, openness, action and consultation, rather than resort to blaming, protectionism, worrying and labeling.

The official representative drew attention to the fact that the EU leader’s statements do not reflect the objective state of the current Chinese-European trade and economic relations and the progress achieved as a result of dialogue between the relevant departments of the parties.

On market access, He Yongqian pointed out that China has been steadily expanding high-level opening-up, completely lifting restrictions on foreign investment in the manufacturing sector and actively increasing imports from Europe through platforms such as the China International Import Expo.

The European Union, on the contrary, has in recent years resorted to protectionism under the pretext of fair trade, abused trade protection instruments and exploited loopholes in international trade rules to create unilateral instruments that are contrary to the fundamental principles of the World Trade Organization (WTO) and the spirit of free trade, the official representative stated.

According to He Yongqian, the EU often initiates investigations against Chinese enterprises over subsidies and other issues, which leads to continuous regression of market opening and deterioration of the business environment.

On the topic of subsidies, the official representative pointed to the EU's double standards, noting that the largest source of subsidies has traditionally been the EU itself. Its subsidies, which are provided to the aviation, agricultural and other sectors, have been recognized as violations by the WTO.

According to incomplete statistics, the EU plans to provide various subsidies totaling more than 1.44 trillion euros from 2021 to 2030, with EU member states offering additional subsidies worth hundreds of billions of euros, He Yongqian noted.

Speaking about public procurement, she noted that in reality there are many hidden barriers in the European public procurement market and it is not at all as fair and open as the European side claims, while the EU has measures in place that stimulate the purchase of European goods.

The European side is using international procurement instruments to take measures to restrict the participation of Chinese companies and products in public procurement of medical equipment, He Yongqian noted, adding that it was against this backdrop that China had to take mirror measures to protect the legitimate interests of its enterprises.

Touching on the topic of export controls, the official representative stressed that China's measures are cautious and proportionate, covering far fewer items than the EU's export control list. He Yongqian recalled that China has created a special "green corridor" for accelerated review and approval for European enterprises, while the EU's export controls in the high-tech sector are characterized by lengthy approvals and cumbersome procedures.

Speaking about so-called excess capacity, the spokeswoman said excess capacity should not be measured solely by production or export volume. She said China's new energy sector is actually facing a shortage of capacity in the global and long-term.

As He Yongqian noted, the problem is not China's “overcapacity” but rather the EU's excessive anxiety caused by chronic underinvestment in R&D and the declining competitiveness of European industry.

The official added that China hopes to work with the EU to expand mutual market access, strengthen dialogue on government procurement and export controls, deepen cooperation in supply chains, and advance WTO reform to bring more stability, certainty and positive energy to the construction of an open global economy. –0–

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Alexey Overchuk took part in the opening ceremony of the XXXIV International Festival of Arts "Slavianski Bazaar in Vitebsk"

Translation. Region: Russian Federal

Source: Government of the Russian Federation – Government of the Russian Federation –

An important disclaimer is at the bottom of this article.

The International Arts Festival “Slavianski Bazaar in Vitebsk” is a large-scale cultural project that promotes humanitarian cooperation.

The opening ceremony of the XXXIV International Festival of Arts "Slavianski Bazaar" took place in Vitebsk. It is a large-scale cultural project that promotes humanitarian cooperation, as well as the revival and development of artistic culture and art.

At the opening ceremony, Deputy Prime Minister Alexey Overchuk read out the welcoming words of Russian President Vladimir Putin to the festival participants and guests: “Dear friends! I cordially welcome you on the occasion of the opening of the next, XXXIV International Arts Festival “Slavianski Bazaar in Vitebsk”.

The festival, held in the ancient and beautiful Belarusian city, makes a significant contribution to strengthening spiritual ties between the fraternal Slavic peoples, to the development of mutually beneficial humanitarian cooperation. Its motto – "Through art to peace and mutual understanding" – sounds especially relevant in the current difficult international conditions.

This year the program of the "Slavianski Bazaar" is very rich and diverse. Several festival venues will host performances by famous singers and artists, musical, folklore and pop groups, numerous theatrical productions, exhibitions and presentations. Much attention is paid to the children's audience: various creative competitions for young performers are planned.

A special place in the program is occupied by events dedicated to the 80th anniversary of the Victory in the Great Patriotic War – the most important event in our common history. I am sure that the great power of art will help preserve the grateful memory of the glorious deeds of our fathers and grandfathers who fought shoulder to shoulder against the fascist invaders, and pass on to the younger generations the good traditions of fraternal friendship and mutual assistance bequeathed by them.

I would like to express my sincere gratitude to everyone who took part in organizing the festival, wish its participants inspiration and success, and the guests – bright, unforgettable impressions.”

The International Festival of Arts "Slavianski Bazaar" has been held since 1992. This year, artists from more than 40 countries are taking part in it; the festival events are taking place in Vitebsk from July 8 to 14.

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Financial news: Monitoring of industry financial flows: payments in June at the level of the first quarter

Translation. Region: Russian Federal

Source: Central Bank of Russia –

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In June, the volume of incoming payments processed through the Bank of Russia increased after a decline in May and was 0.1% higher than the average level in Q1 2025.

Excluding extractive industries, oil product manufacturing and public administration, receipts decreased by 0.6%. A decrease in incoming payments in June was recorded in the consumer, investment and external demand sectors.

Read more in the next issue "Monitoring of industry financial flows".

Preview photo: thinkhubstudio / Shutterstock / Fotodom

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Tatyana Golikova spoke at a joint meeting of the State Duma committees.

Translation. Region: Russian Federal

Source: Government of the Russian Federation – Government of the Russian Federation –

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Deputy Prime Minister Tatyana Golikova spoke at a joint meeting of the State Duma committees in preparation for holding a government hour on the topic "On priorities in implementing the demographic policy of the Russian Federation." The meeting was also attended by Minister of Labor and Social Protection Anton Kotyakov, Minister of Finance Anton Siluanov, Minister of Culture Olga Lyubimova, representatives of the Ministry of Health and the Ministry of Construction and Housing and Utilities.

"Our absolute priority is to preserve the population. This is the main national goal, designated by the President of the country. And this is a national goal for many years. Because within this goal, the birth rate is, of course, the most difficult issue. And the birth rate is not a momentary decision. It is a person's motivation to start a family. And this is our hard and painstaking work. And I will start with the basics of state policy to support traditional spiritual and moral values. This is, in fact, the key issue. Fostering in society an attitude towards family, towards a child, towards parents, towards grandparents. Towards a multi-generational, dynastic family. And pride in the fact that this family exists," said Tatyana Golikova.

The Deputy Prime Minister emphasized that today, on average, a woman gives birth to her first child at the age of 26, and the average age of a woman at the birth of a child is 29.

"As our President says, the entire infrastructure should be built around the family. And this means that all our priorities, our national projects should work towards this idea," noted Tatyana Golikova. "What we are seeing today is a great commitment to urbanization. And this commitment to urbanization leads to the fact that individual settlements are left without people. We must create the appropriate infrastructure around. This settlement must live, so that it is interesting to live in it."

According to the Deputy Prime Minister, 80.4% of births today occur in cities. At the same time, by the end of 2024, the total fertility rate in Russia as a whole was 1.4, and in the village – 1.6.

In addition, on the eve of the government hour, Tatyana Golikova met with all factions of the State Duma – United Russia, the Communist Party of the Russian Federation, the Liberal Democratic Party of Russia, A Just Russia and New People. The meetings were also attended by the Minister of Labor and Social Protection Anton Kotyakov, the Minister of Health Mikhail Murashko, the Minister of Finance Anton Siluanov, representatives of the Ministry of Construction and Housing and Public Utilities and the Ministry of Culture.

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Dmitry Patrushev discussed export development with the leadership of industry unions.

Translation. Region: Russian Federal

Source: Government of the Russian Federation – Government of the Russian Federation –

An important disclaimer is at the bottom of this article.

Deputy Prime Minister Dmitry Patrushev held a meeting dedicated to the development of Russian agricultural exports. It was attended by Minister of Agriculture Oksana Lut, the leadership of industry unions, and business representatives.

The Deputy Prime Minister stressed the importance of implementing the decree of the President of Russia on increasing the volume of export deliveries. The participants of the meeting discussed the dynamics of exports of agricultural products this year and the necessary measures to improve the efficiency of existing export support mechanisms.

Following the meeting, the heads of industry associations and unions will carry out the necessary work with each exporting company and will take special control over the achievement of planned export indicators for the current year. The Russian Ministry of Agriculture, in turn, has been instructed to take the necessary measures in a timely manner to ensure positive export dynamics.

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Over the year, the number of small and medium-sized companies has grown by 3%.

Translation. Region: Russian Federal

Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

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According to the annual update of the Unified Register of Small and Medium-Sized Businesses, which is administered by the Federal Tax Service of Russia, the country has recorded an increase in companies and individual entrepreneurs. Currently, there are almost 6.4 million SMEs.

"Based on the results of the annual update of the Unified Register of Small and Medium-Sized Businesses in Russia, 6.4 million operating companies and individual entrepreneurs have been registered. This is the highest figure since 2017, when the register was launched. We are recording a stable positive trend: compared to the previous period, the number of SMEs has increased by 3.2%, or about 200 thousand. Such results confirm the high role of small and medium businesses in the country's economy and the effectiveness of the measures taken to support and develop them," said Deputy Prime Minister of the Russian Federation Alexander Novak.

The annual update of the Unified Register takes place on July 10 and reflects the most current number of SME entities. It is carried out on the basis of the reports submitted by entrepreneurs at the beginning of the year for the previous period. Companies and individual entrepreneurs that no longer meet the SME criteria or have not submitted the required reports within the established deadline are excluded from the register.

"More and more enterprises are demonstrating dynamic development, going beyond the criteria established for small and medium-sized businesses. If previously about three thousand companies made the annual transition beyond the SME sector, this year their number approached five thousand. This indicates qualitative growth of business, its transition to a new level of maturity and scale. For such companies, we are already developing special measures to support SMEs in order to ensure their stable development and further integration into a higher-level economy," explained Maxim Reshetnikov, Minister of Economic Development of Russia.

"The Ministry of Economic Development of Russia also notes positive dynamics in the growth of the number of medium-sized enterprises. Currently, more than 22 thousand medium-sized companies are registered, their number has grown by 6% over the year, and by 19% compared to 2023," commented Deputy Minister of Economic Development of Russia Tatyana Ilyushnikova.

As a result of monthly updates of the Unified Register of SMEs, as a rule, an increase in the number of small and medium-sized enterprises is recorded. However, during the annual update, which is carried out on July 10, a reduction in the total number of entities is usually observed. This is primarily due to the administrative features of maintaining the register and does not reflect the real state of the SME sector.

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Marat Khusnullin: More than 500 bridges and overpasses will be renovated this year under the national project "Infrastructure for Life"

Translation. Region: Russian Federal

Source: Government of the Russian Federation – Government of the Russian Federation –

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Bridge across the Voya River, Kirov Region.

Thanks to the national project "Infrastructure for Life", in 2025, more than 500 bridges and overpasses with a length of 42.2 thousand linear meters will be built, reconstructed, repaired, including major repairs, on the regional and local road network. This was reported by Deputy Prime Minister Marat Khusnullin.

"Bridges, overpasses, and flyovers allow you to overcome difficult sections, reduce travel time, and reduce the load on alternative routes. They ensure uninterrupted traffic flow, connect territories, and improve road safety. The construction and timely repair of artificial structures are important for the sustainability and efficiency of the country's road framework. Thanks to the national project "Infrastructure for Life", in 2025, more than 500 bridges and overpasses with a length of 42.2 thousand linear meters will be built, reconstructed, repaired, including major repairs," said Marat Khusnullin.

In particular, this year it is planned to commission 7 artificial structures, another 65 bridges and overpasses will be reconstructed. 228 structures will undergo major repairs. Work on a number of objects began under the national project "Safe High-Quality Roads".

Thus, in the Luninsky District of the Penza Region, the reconstruction of the bridge across the Shuksha River, located on the Penza-Lunino highway, was completed significantly ahead of schedule. The highway is part of the regional backbone network of highways, and also connects the administrative center of the Penza Region with the district center of the Luninsky District and further with the Republic of Mordovia.

The old bridge built in the 60s of the last century was in a pre-emergency condition. The new four-span structure has a length of 101.25 running meters. The width is 16 running meters. The project provides for sidewalks 2.25 m wide. The total length of approaches to the bridge is 235 m. Also, for the comfort of Luninets living near the artificial structure, noise protection screens more than 300 m long have been installed.

The major repairs of the bridge across the Voya River in the Nemsky District of the Kirov Region were completed ahead of schedule and put into operation. It is located on the regional highway Kyrchany – Nema – Kilmez. The length of the facility is 300 running meters. The crossing provides a connection between the Kirov Region and the Udmurt Republic. The traffic of three regional highways passes here: Kyrchany – Nema – Kilmez, Kazan – Perm and Kirov – Malmyzh – Vyatskiye Polyany.

Two artificial structures were opened in the Ulyanovsk region after major repairs: a bridge over a ravine in the Novomalyklinsky district and a bridge over the Vodoleyka River in the Sursky district. The length of the first object is 30.1 running meters. The crossing over the ravine is located on the highway ""R-241 Kazan – Buinsk – Ulyanovsk, approach to the city of Samara" – Dimitrovgrad" – Novaya Malykla.

The second object is a bridge across the Vodoleyka River built in 1967. It is located on the Surskoye-Shumerlya-Moscow-Kazan highway. The road is part of the regional backbone network and connects the Ulyanovsk Region and the Chuvash Republic. In addition, a school route passes through here. The length of the object is 66.9 running meters.

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Financial news: The Bank of Russia has published a ranking of insurers based on complaints about compulsory motor third-party liability insurance for 2024

Translation. Region: Russian Federal

Source: Central Bank of Russia –

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Results presented in two tables: insurers with a client base of more than 2 million OSAGO contracts and small companies that do not exceed this threshold. This breakdown will help car owners compare companies of the same size.

The ranking is based on statistics of complaints to the Bank of Russia on MTPL issues for 2024, for which consumer rights violations were confirmed and supervisory measures were taken. Companies are distributed by the level of the consumer risk indicator — from highest to lowest. It is calculated as the ratio of the number of complaints about a specific insurer to every 10 thousand contracts concluded by it. Insurance companies that received only one complaint are not included in the ranking.

Preview photo: Pushish Images / Shutterstock / Fotodom

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Financial news: Prospects for the development of the retail mutual fund market: report of the Bank of Russia

Translation. Region: Russian Federal

Source: Central Bank of Russia –

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The Bank of Russia has analyzed and summarized the accumulated law enforcement practice in the retail mutual investment fund (MIF) market, international experience, as well as initiatives of market participants, and proposes to discuss possible directions for the development of this segment.

One of the development vectors may be the expansion of investment opportunities for retail funds. It is proposed to increase the list of non-traded securities in which they can invest, but to set a limit. Digital financial assets may also appear in the list of objects available for mutual funds for investment. This will require creating a legal framework, as well as developing a procedure for separating and storing such assets. But retail funds will not be able to start investing in them immediately, but over time.

Market participants also proposed creating opportunities for the emergence of funds with increased financial leverage in Russia. These are borrowed funds or derivative financial instruments that the fund additionally uses to generate profit. Currently, the amount of financial leverage that a mutual fund for non-qualified investors can take on is limited to 20% of the fund's net asset value (with the possibility of deviation up to 40% as a result of market factors). The Bank of Russia believes that increasing the leverage entails increased risks and requires additional investor protection measures.

The idea of creating a fund of funds also requires a comprehensive assessment. Currently, in Russia, a management company cannot acquire investment units of one mutual fund under its management as part of the assets of another mutual fund under its management. However, in international practice, there are master-feeder fund structures – this is the name for a central fund consisting of assets collected from other funds under its management. The regulator proposes to discuss the prospects for using such structures in Russia, as well as the problems that they will help solve in the collective investment market.

In addition, the report considers proposals to speed up operations with units. Currently, the procedures for issuing, redeeming and exchanging investment units of open-end mutual funds, as a rule, take place within 1 to 4 business days from the moment the client provides all the necessary documents and makes the payment. It is proposed to consider the possibility of reducing this period so that operations are carried out in T 0 mode.

More about possible scenarios for the development of retail mutual fundsread in the report. Answers to questions presented in the material, comments and suggestions to it can be sent up to and including September 1.

Preview photo: Tools Konten / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.