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ASEAN Economic Ministers Say No to Retaliation in Response to US Tariffs

Ministries from the Association of Southeast Asian Nations (ASEAN) expressed “deep concern” over unilateral tariffs introduced by the United States. 

The statement, adopted during their virtual Special ASEAN Economic Ministers’ Meeting on 10 April, highlights potential disruptions to global trade. 

Virtual Special ASEAN Economic Ministers’ Meeting, Kuala Lumpur, 10 April 2025 (Photo: asean.org)

The ten ASEAN nations, unexpectedly hit hard by President Trump’s recent tariff announcement, are urging dialogue and cooperation rather than pursuing retaliatory measures.

“We express our common intention to engage in a frank and constructive dialogue with the U.S. to address trade-related concerns. Open communication and collaboration will be crucial to ensuring a balanced and sustainable relationship,” the statement read. “In that spirit, ASEAN commits to not impose any retaliatory measures in response to the U.S. tariffs.”

The statement also expressed support for the World Trade Organization (WTO) as the foundation of the global multilateral trading system and endorsed recent statements by WTO Director-General Ngozi Okonjo-Iweala regarding the potential impact of US tariffs on global trade and economic growth.

“We reaffirm our support for a predictable, transparent, free, fair, inclusive, sustainable, and rules-based multilateral trading system”, the statement added.

Secretary-General of ASEAN, H.E. Dr. Kao Kim Hourn (Photo: asean.org)

The ASEAN bloc, which represents the fifth largest economy globally, emphasized the importance of its economic relationship with the United States, noting that in 2024, the US was ASEAN’s largest source of foreign direct investment and second-largest trading partner. Conversely, ASEAN served as the fifth-largest trading partner for the United States last year.

The reciprocal tariffs took effect on 9 April but were suspended hours later for a period of 90 days for most countries. In six out of ten Southeast Asian nations, including Cambodia, Laos, Vietnam, Myanmar, Thailand, and Indonesia, tariffs range from 32 percent to 49 percent. 

However, while the US suspended some tariffs, the overall policy has created significant uncertainty for businesses, particularly micro, small, and medium enterprises (MSMEs), the regional leaders said in the recent online meeting. 

Looking forward, ASEAN ministers pledged to strengthen regional economic integration through initiatives such as the Upgrade of the ASEAN Trade-In-Goods Agreement (ATIGA) and the ASEAN Digital Economy Framework Agreement (DEFA). Moreover, committed to enhancing economic cooperation.

“We will also strengthen and expand our economic links with ASEAN’s external partners, including our Dialogue Partners, and seek out opportunities for economic cooperation with new partners,” the statement added. 

The ministers concluded by emphasizing their commitment to working “with greater unity and solidarity” to overcome the challenges posed by the current global trade situation while minimizing the impact on their populations and maintaining sustainable growth.

DYXnet Takes the Lead: Wins Gold Stevie® Award at the 2025 Asia-Pacific Stevie Awards

for Its Achievement in AI Advancements in the Telecommunications Industry


HONG KONG SAR – Media OutReach Newswire – 11 April 2025 – DYXnet, a wholly-owned subsidiary of VNET Group (NASDAQ: VNET) and a leading enterprise network service provider in Greater China, has received the prestigious Gold Stevie® Award for Innovation in Artificial Intelligence and Machine Learning at the 12th annual Asia-Pacific Stevie ® Awards. Gaining the world’s famous business awards not only recognizes DYXnet’s commitment to providing professional ICT services but also highlights its dedication to keeping pace with the ever-evolving technological landscape, enabling enterprises to achieve digital transformation in the era of AI. Since 2021, DYXnet has consistently excelled at the Asia-Pacific Stevie ® Awards, earning multiple accolades, including the Gold Award for Innovation in Digital Transformation and the Bronze Award for Innovation in Technology Management, Planning, and Implementation last year.

The Stevie Awards are widely considered to be the world’s premier business awards, conferring recognition for achievement in programs such as The International Business Awards® for 23 years. The Asia-Pacific Stevie Awards are the only business awards program to recognize innovation in the workplace in all 29 markets of the Asia-Pacific region. This year, over 1,000 nominations were received from organizations throughout the region. Gold, Silver and Bronze Stevie Award winners were determined by the average scores of more than 100 executives around the world acting as judges in February and March. DYXnet earned the Gold Award in the Innovation in Artificial Intelligence and Machine Learning category within the Telecommunications Industries, acknowledging its commitment to transforming enterprise network management and cybersecurity through innovative technologies.

DYXnet has been actively expanding its services into the field of AI in recent years. The awarded DYXnet AI services seamlessly integrate AI with network and cybersecurity services, aiming to automate network operations and management while addressing the complexities of modern network security, realizing Artificial Intelligence for IT Operations (AIOps). By leveraging advanced machine learning algorithms and real-time analytics, DYXnet continuously learns about customer needs and network conditions. This capability enables the service to provide flexible and rapid responses, optimize network performance, automate troubleshooting, and prevent downtime, ultimately ushering in a new era of AI-driven network management for enterprise customers. Furthermore, the DYXnet team closely monitors industry trends and actively explores deep integration with leading Large Language Models (LLMs), including ChatGPT and DeepSeek, to enhance the performance of DYXnet’s SD-WAN and SASE services. Through these innovative approaches, DYXnet aims to address the challenges faced by modern enterprises while paving the way for future advancements in AI and machine learning within the telecommunications industry.

Senica Chen, DYXnet’s CEO, stated, “We’re thrilled to see that our devotion to AI development has received international recognition, reaffirming our faith in embracing the era of AI and preparing for the intelligent transformation of enterprises. The landscape of AI infrastructure is evolving rapidly, and a modernized infrastructure with effective connectivity is critical for enterprises to gain a competitive edge. Looking ahead, DYXnet will leverage the strong resources of our parent company, along with our extensive partner ecosystem in computing, data centers, and cybersecurity, to create comprehensive one-stop services that unleash the full potential of AI.”Hashtag: #DYXnet #AI


The issuer is solely responsible for the content of this announcement.

About DYXnet

DYXnet, established in 1999 in Hong Kong, became a wholly-owned subsidiary of VNET Group (NASDAQ: VNET) in 2014. It is a leading ICT service provider in Hong Kong and the Asia Pacific region, delivering innovative technologies and solutions to enterprises of all sizes and helping them fully embrace digital transformation.

DYXnet offers a comprehensive portfolio of services, including enterprise networks (MPLS and SD-WAN), cloud solutions, data center services, cybersecurity, and AI solutions, empowering businesses to realize their full potential. As a pioneer in the ICT field, DYXnet operates over 200 PoPs worldwide, covering more than 700 cities and serving over 30,000 client sites. DYXnet was among the first ICT service providers in the region to obtain prestigious ISO certifications, including ISO/IEC 27001, ISO/IEC 20000-1, and ISO 9001. Additionally, DYXnet is one of the inaugural official members of the China Cross-border Data Telecommunications Industry Alliance and has played a crucial role as one of the initial drafting units for SD-WAN service standards.

To learn more, please visit DYXnet’s website at: .

SMU Yong Pung How School of Law clinches double victory at prestigious international moot competitions

SINGAPORE, April 11, 2025 /PRNewswire/ — In an extraordinary display of advocacy, intellect and global competitiveness, law students from Singapore Management University (SMU) Yong Pung How School of Law (YPHSL) have delivered a remarkable double victory on the global stage. Within one weekend, SMU teams clinched top honours at two of the world’s most prestigious moot court competitions – the 66th Philip C. Jessup International Law Moot Court Competition in Washington, D.C., and the 22nd Willem C. Vis (East) International Commercial Arbitration Moot in Hong Kong SAR. 

These successes mark a significant milestone for SMU and Singapore’s legal education on the international stage. In particular, the Jessup championship was last won by a Singapore university in 2001. This momentous achievement not only elevates SMU Yong Pung How School of Law’s standing among the world’s premier legal education institutions but also serves as an inspiration for future generations of lawyers in the city-state. 

SMU Provost, Professor Alan Chan, said, “We are hugely proud of the teams! We know they are extremely talented, but the results show that we are not just being partial to our students! These well-earned victories also reflect the dedication and support of our faculty and staff, alumni, and the entire SMU Law community. The Law school will spare no effort in continuing to nurture globally attuned, practice-ready legal professionals through a rigorous curriculum and real-world exposure.” 

“Our teams’ stellar accomplishment affirms Yong Pung How School of Law’s position as a global powerhouse in advocacy and legal education, which is particularly meaningful this year as the University celebrates its 25th anniversary,” he added. 

Triumph at the 2025 Philip C. Jessup International Law Moot Court Competition 

On 5 April, Team SMU emerged as the World Champion at the 2025 Jessup Moot, which is the world’s largest and most prestigious moot court competition, drawing law students from across the globe to tackle pressing international legal challenges. This year’s Jessup moot saw fierce competition with record participation from 805 teams representing 104 jurisdictions. 

This is the fourth time SMU YPHSL has reached the final round of this competition since making its debut in the international rounds of this competition in 2013. It took first runner-up positions in 2013, 2014 and 2022, despite being one of the youngest law schools to compete. 

Considered one of the ‘grand slam’ international moots, the Jessup competition simulates a fictional dispute between countries before the International Court of Justice, the judicial organ of the United Nations. Each law school may send only one competing team, which presents written and oral arguments on complex international legal topics. Winners of national or regional qualifying rounds advance to the White & Case International Rounds in Washington, D.C. typically during the first week in April, where they compete for the coveted Jessup World Cup. 

Teams from Australia, India, Singapore and Ukraine advanced to the Semi-Final Round held on 4 April. In a thrilling culmination, SMU and the National University of Kyiv-Mohyla Academy ultimately faced off in the Final Round, where SMU prevailed as the final winner. 

The stellar SMU team – comprising final-year LLB undergraduates Lovein Sui, Elizabeth Ho, Genieve Wu, Raelee Toh and Erica Wee – impressed judges of the International Court of Justice with their masterful legal reasoning, poise, and advocacy. Additionally, Erica was named Best Oralist of the competition. The team was coached by a dedicated team of alumni coaches, led by SMU Assistant Professor of Law Nicholas Liu

Victory at the 2025 Willem C. Vis International Commercial Arbitration Moot 

Barely a day later in Hong Kong, SMU mooters also took to the podium at the 22nd Willem C. Vis (East) International Commercial Arbitration Moot, after nine rounds of intense competition. The victory marks SMU’s third championship title at Vis (East) since debuting in the competition in 2010, having previously won in 2022 and 2015. The University also achieved podium finishes in 2016, 2017, 2018, 2019, and 2020. 

The Vis (East) team from the SMU comprised Juris Doctor students Samantha Loh and Aishwarya Salkade, and law undergraduates Jonathan Teo and Adele Ling and Evangeline Han

The Vis (East) Moot is the sister competition to the prestigious Willem C. Vis International Commercial Arbitration Moot in Vienna. As international commercial transactions and cross-border disputes continue to rise across Asia, Vis (East) offers law students, academics, and practitioners exposure to global arbitration and international trade law—through an Asian lens. 

After a compelling showdown with the National Law University Delhi in the Final Round, SMU was declared the champion. The team also achieved several other accolades: 

  • SMU won the Eric E Bernsten Award for the School prevailing in the Oral Arguments  
  • For written memorial, SMU received Honourable Mentions for both Claimant and Respondent 
  • Jonathan Teo was awarded Honourable Mention for Best Oral Advocate  

About SMU Yong Pung How School of Law’s record of excellence

A key factor driving the moot success at SMU YPHSL is the Ian R Taylor International Moots Programme, which has firmly established the law school on the global stage. This programme has nurtured generations of mooters who have earned numerous world-class accolades, enabling it to consistently excel at the most prestigious international moots.

YPHSL is consistently ranked among the top three law schools worldwide for international moots, according to the Nica.team Law School Ranking. The School is also the tournament leader in prominent competitions such as the International Criminal Court (Hague), Price Media Law (Oxford), Frankfurt Investment, and Vis East (Vienna) moots. SMU teams have consistently excelled in the Jessup (Washington), Mandela, and LAWASIA competitions, among many others.

Just a few weeks ago, SMU won the 23rd Red Cross International Humanitarian Law (IHL) Moot (Asia-Pacific Region) held between 12 and 15 March 2025 in Hong Kong. In 2024, SMU mooters claimed world championship titles in the International Criminal Court (ICC) moot court competition held in The Hague, Netherlands; Refugee Migration; Fletcher; and Perera competitions. Additionally, SMU teams reached the world championship finals in the Price, Stetson, and Mandela competitions, while achieving their maiden win in the Lachs Space moot.

Annex 1: Photo of the victorious SMU team at the 2025 Jessup moot held in Washington D.C.

The victorious SMU team at the 2025 Jessup moot held in Washington D.C. (Front row, L-R) Raelee Toh, Erica Wee, Elizabeth Ho, Genieve Wu.  (Back row, L-R) Alexander Kamsany Lee, Fu Qiyuan, Lovein Sui, Assoc Prof Chen Siyuan (who oversees the training of SMU’s mooting teams as Director of SMU’s Ian R. Taylor International Moots Programme, assisted by Alexander Kamsany Lee.)  Absent in photo - Asst Prof Nicholas Liu, who coached the team together with Fu Qiyuan.  [Photo credit: Chen Siyuan]
The victorious SMU team at the 2025 Jessup moot held in Washington D.C. (Front row, L-R) Raelee Toh, Erica Wee, Elizabeth Ho, Genieve Wu. (Back row, L-R) Alexander Kamsany Lee, Fu Qiyuan, Lovein Sui, Assoc Prof Chen Siyuan (who oversees the training of SMU’s mooting teams as Director of SMU’s Ian R. Taylor International Moots Programme, assisted by Alexander Kamsany Lee.) Absent in photo – Asst Prof Nicholas Liu, who coached the team together with Fu Qiyuan. [Photo credit: Chen Siyuan]

Annex 2: Photo of the winning SMU team at the 2025 Vis (East) moot held in Hong Kong

The winning SMU team at the 2025 Vis (East) moot held in Hong Kong. (L-R) Jonathan Teo, Aishwarya Salkade, Adele Ling, Evangeline Han, Samantha Loh; with coaches Suryanarayanan Jayakumar and Tan Jun Hong  [Photo credit: SMU]
The winning SMU team at the 2025 Vis (East) moot held in Hong Kong. (L-R) Jonathan Teo, Aishwarya Salkade, Adele Ling, Evangeline Han, Samantha Loh; with coaches Suryanarayanan Jayakumar and Tan Jun Hong [Photo credit: SMU]

About Singapore Management University

Established in 2000, Singapore Management University (SMU) is recognised for its disciplinary and multi-disciplinary research that address issues of global relevance, impacting business, government, and society. Its distinctive education, incorporating innovative experiential learning, aims to nurture global citizens, entrepreneurs and change agents. With more than 13,000 students, SMU offers a wide range of bachelors, masters and PhD degree programmes in the disciplinary areas associated with six of its seven schools – Accountancy, Business, Economics, Computing, Law and Social Sciences. Its seventh school, the SMU College of Integrative Studies, offers a bachelor’s degree programme in deep, integrative interdisciplinary education. SMU also offers a growing number of executive development and continuing education programmes. Through its city campus, SMU focuses on making meaningful impact on Singapore and beyond through its partnerships with industry, policy makers and academic institutions. www.smu.edu.sg

About SMU Yong Pung How School of Law

SMU’s law school was renamed Yong Pung How School of Law (YPHSL) on 11 April 2021 to celebrate and honour the late Dr Yong Pung How, Singapore’s former Chief Justice and SMU’s third Chancellor. 

The law school had proudly welcomed its first cohort of 116 students in August 2007.  Taught by a dynamic faculty with postgraduate degrees from renowned universities, the School aims to nurture its students to become excellent lawyers who will contribute significantly to society.  Trained with the ability to contextualise legal expertise and to think across disciplines and geographical borders coupled with SMU’s interactive pedagogy, SMU’s law graduates are confident, articulate and analytically agile.

The School offers a four-year full-time Bachelor of Laws programme, a five-year double-degree programme which combines law with Accountancy, Business, Economics, Computing & Information Systems or Social Sciences; a three-year Juris Doctor programme; a Master of Laws programme; a PhD programme in Law, Commerce and Technology; as well as continuing legal education.  From Academic Year 2020-2021, the School also jointly offers a new Bachelor of Science (Computing & Law) with the SMU School of Computing and Information Systems. This new degree will produce IT and legal professionals who are adept at bridging technology and law.

Research at the SMU YPHSL has a strong focus in three main inter-related areas – Law and Technology, Transnational Commercial law in Asia, and Dispute Resolution. The School has also set up legal research centres focusing on A.I. and data governance, computational law, commercial law, and international dispute resolution.  www.law.smu.edu.sg

137th Canton Fair to Open April 15 with Record Export Exhibitor Turnout and New Thematic Zones Debut

GUANGZHOU, China, April 11, 2025 /PRNewswire/ — The 137th China Import and Export Fair (Canton Fair), one of the world’s largest trade events, will kick off on April 15 and run through May 5 in Guangzhou, China. At the press conference hosted by China’s Ministry of Commerce, key highlights of the Fair were unveiled. Covering approximately 1.55 million square meters, the Fair will feature around 74,000 booths and welcome about 31,000 exhibitors. Notably, the number of National Pavilion exhibitors will surpass 30,000 for the first time, up nearly 900 from the previous session.


The 137th Canton Fair will present a broader scope of exhibition themes, with each of its three phases spotlighting a distinct focus: “Advanced Manufacturing,” “Quality Home Life,” and “Better Life.” The event will feature 55 exhibition sections and 172 product zones in total. A dedicated service robot zone will debut in the first phase, showcasing a diverse array of robotic solutions for personal, domestic, and professional use. A new section for integrated housing will also be introduced.

Furthermore, the Fair boasts higher quality participation with over 4,200 new exhibitors. Among all the exhibitors, more than 9,700 participating companies have earned national titles, such as specialized and sophisticated small and medium enterprises, manufacturing single champions, national high-tech enterprises, marking a 20% increase from the 136th session. Nearly 3,700 companies focus on new energy vehicles, lithium batteries, solar cells, digital technology, and intelligent manufacturing. Additionally, more than 17,000 exhibitors will showcase their own brands, and nearly 22,000 companies have obtained various international certifications.

The Canton Fair App, an essential tool for both onsite and online engagement, has been widely downloaded since its launch. This year, the App will be upgraded with separate versions for buyers and suppliers, offering more targeted features and improved functionality. In parallel, the online platform’s service offerings have been enhanced, and the trade matchmaking system has been restructured to streamline the matchmaking process, boosting both efficiency and accuracy.

To better serve exhibitors and buyers, the Fair will host over 1,000 trade promotion activities during the Fair. Highlights include 18 industry-focused conferences and forums, around 400 new collection events, more than 590 “Trade Bridge” matchmaking events, and 20 “Discover Canton Fair with Bee and Honey” livestreaming activities.

To download the Canton Fair App, please visit https://cief.cantonfair.org.cn/en/app/appintro.html.

Yiren Digital’s “Zhiyu Large Model” Gains Regulatory Approval for Commercial Use, Marking New Milestone in AI Innovation

BEIJING, April 11, 2025 /PRNewswire/ — Yiren Digital Ltd. (NYSE: YRD) (“Yiren Digital”), an AI-powered platform providing a comprehensive suite of financial and lifestyle services in China, today announced that its proprietary “Zhiyu Large Model” (智语大模型) has received regulatory approval for commercialization through the successful filing under Interim Measures for the Management of Generative Artificial Intelligence Services. This milestone highlights Yiren Digital’s leadership in AI innovation, enabling the commercial deployment of secure and efficient intelligent solutions across diverse business applications.

The Zhiyu Large Model, a versatile foundation model, leverages Yiren Digital’s advanced AI capabilities to deliver a range of solutions, including real-time content processing and analysis, automated contract review, multilingual translation, intelligent Q&A and code generation capabilities. These features have been integrated into the company’s core workflows such as meeting management, legal document review, and tax/financial operations, driving measurable efficiency gains and fostering a smarter digital workplace.

Building on this success, Yiren Digital will actively broaden the model’s applications across diverse business scenarios, with particular focus on enhancing consumer-facing (2C) interactions. The goal is to deliver more natural and human-like engagement through AI-powered interfaces. Future integration with customer service systems will further elevate responsiveness and overall service quality.

Since its inception, Yiren Digital has consistently prioritized technological innovation and has developed a suite of seven proprietary AI systems that form the backbone of its operations, including the DiTing intelligent decision-making system, LingShu intelligent marketing platform, QingNiao smart customer service solution, and ZhuQue intelligent fund routing platform. The ZhuQue platform exemplifies the company’s technological prowess, employing sophisticated algorithms to optimize fund allocation based on dynamic analysis of borrower credit profiles, partner risk parameters, and cost structures. This system alone generated annual cost savings of RMB 44 million for the year 2024. With the commercial approval of the Zhiyu Large Model, Yiren Digital anticipates accelerated enhancement of its existing systems and smoother realization of its comprehensive AI commercialization strategy.

The regulatory approval positions Yiren Digital among an elite group of innovators. As of April 10, 2025, only 128 generative AI services in Beijing had successfully completed the filing process. Earlier this year, Yiren Digital became a member of China’s Artificial Intelligence Industry Alliance (AIIA), recognized for its cutting-edge advancements in AI development and applications. The company was also recognized among 2024 “Beijing’s Top 100 Software and Information Services Enterprises” and won the 2024 “Golden FinTech” Excellence Award by CAICT.

About Yiren Digital

Yiren Digital Ltd. is an advanced, AI-powered platform providing a comprehensive suite of financial and lifestyle services in China. Our mission is to elevate customers’ financial well-being and enhance their quality of life by delivering digital financial services, tailor-made insurance solutions, and premium lifestyle services. We support clients at various growth stages, addressing financing needs arising from consumption and production activities, while aiming to augment the overall well-being and security of individuals, families, and businesses.

Yum China to Report First Quarter 2025 Financial Results

SHANGHAI, April 11, 2025 /PRNewswire/ — Yum China Holdings, Inc. (NYSE: YUMC and HKEX: 9987, “Yum China” or the “Company”) today announced that it will report its unaudited financial results for the first quarter ended March 31, 2025 before the U.S. market opens on Wednesday, April 30, 2025 (after the trading hours of the Hong Kong Stock Exchange on Wednesday, April 30, 2025).

Yum China’s management will hold an earnings conference call at 7:00 a.m. U.S. Eastern Time on Wednesday, April 30, 2025 (7:00 p.m. Beijing/Hong Kong Time on Wednesday, April 30, 2025).

A live webcast of the call may be accessed at https://edge.media-server.com/mmc/p/jnrqo5nh

To join by phone, please register in advance of the conference through the link provided below. Upon registering, you will be provided with participant dial-in numbers and a unique access PIN.

Pre-registration Link: https://register-conf.media-server.com/register/BId802dc952e3f40ed86f25771a575618c 

A replay of the webcast will be available two hours after the event and will remain accessible until April 29, 2026. Additionally, earnings release accompanying slides will be available at the Company’s Investor Relations website http://ir.yumchina.com.  

About Yum China Holdings, Inc. 

Yum China is the largest restaurant company in China with a mission to make every life taste beautiful. The Company operates over 16,000 restaurants under six brands across around 2,200 cities in China. KFC and Pizza Hut are the leading brands in the quick-service and casual dining restaurant spaces in China, respectively. In addition, Yum China has also partnered with Lavazza to develop the Lavazza coffee concept in China. Little Sheep and Huang Ji Huang specialize in Chinese cuisine. Taco Bell offers innovative Mexican-inspired food. Yum China has a world-class, digitalized supply chain which includes an extensive network of logistics centers nationwide and an in-house supply chain management system. Its strong digital capabilities and loyalty program enable the Company to reach customers faster and serve them better. Yum China is a Fortune 500 company with the vision to be the world’s most innovative pioneer in the restaurant industry. For more information, please visit http://ir.yumchina.com.

Investor Relations Contact
Tel: +86 21 2407 7556
E-mail: IR@yumchina.com 

Media Contact
Tel: +86 21 2407 8288 / +852 2267 5807
E-mail: Media@yumchina.com 

CGTN: Blooming ‘flower economy’ – Heze’s peony industry boosts development, cultural exchanges


BEIJING, CHINA – Media OutReach Newswire – 11 April 2025 – CGTN published an article on the Heze Peony International Communication Forum, which was held in Heze City in east China’s Shandong Province. Through a thorough introduction of how the peony industry drives the local development and promotes cultural exchanges, the article highlights the Heze Peony Festival’s important role in enhancing friendship, and strengthening cooperation and cultural exchanges.

CGTN: Blooming 'flower economy' - Heze's peony industry boosts development, cultural exchanges

In 2000, Li Xiaoqi, a graduate of China Agricultural University, returned to his hometown in Heze, Shandong Province, and began working in the peony industry. Through years of dedication, he expanded his family’s small 10-mu peony field into a 2,200-mu modern industrial park with facilities for seedling cultivation, flower processing, cold storage and research.

Beyond growing his own business, Li trained and supported hundreds of local farmers in peony cultivation, playing a key role in poverty alleviation and boosting the region’s peony industry.

The thriving peony industry has enabled Heze – “the peony capital of China” – to foster four major development sectors focusing on seedling breeding, flower cultivation, deep processing and cultural tourism.

The 2025 World Peony Conference and the 34th Heze International Peony Cultural Tourism Festival, collectively referred to as the 2025 Heze Peony Festival, officially kicked off on Tuesday. Featuring four sub-forums and 29 activities, the festival will last one month.

Blooming ‘flower economy’

As the world’s largest peony planting and scientific research and processing base, in recent years, Heze has continued to tap the advantages of peonies in areas such as variety cultivation, industrial expansion, and cultural and tourism integration.

The city has currently cultivated nine color systems, 10 flower shapes and 1,308 varieties, with its planting area and number of varieties ranking first globally.

Besides the peony, Heze has developed the cultivation of other flowers such as the herbaceous peony, rose and gerbera jamesonii. Last year, the city’s sales of fresh-cut herbaceous peony flowers reached 120 million pieces, which were exported to more than 20 countries and regions in the world.

In terms of industrial development, Heze has built a complete industrial chain from planting and processing to tourism and cultural creativity.

Having more than 120 peony production and processing enterprises and 20 scientific research institutions, the city has developed over 260 peony-derived products, ranging from seed oil, cosmetics and cultural products. Last year, the total output value of the peony industry reached 13 billion yuan (about $1.8 billion).

As Heze’s most beautiful business card, peony has become a powerful engine for the high-quality development of cultural tourism, said Yu Jiannan, head of the Shandong Provincial Department of Culture and Tourism.

Promoting cultural exchanges

On Wednesday and Thursday, the Heze Peony International Communication Forum was held. A series of activities, such as the digital interpretation of paintings which converts static paintings into dynamic images, and digital images of peonies generated by ChatGPT, have injected new impetus into the international dissemination of peony culture through technological empowerment.

In recent years, Heze has deeply explored the values of peonies, and actively created a friendly cultural symbol for global communication.

In addition to the holding of the forum, the city has established overseas sub-venues of the Peony Festival in countries such as the Netherlands, Japan and South Korea.

It has also set up peony culture communication stations in Brazil, Malaysia, Romania and other countries, and held award events related to the peony to introduce the beauty of peonies to more than 50 Belt and Road partner countries, offering an intriguing window into the popular perception of peony culture.

The festival has built an important platform for enhancing friendship, strengthening cooperation and cultural exchanges, said Yu.

For more information, please click:
https://news.cgtn.com/news/2025-04-10/Heze-s-peony-industry-boosts-development-cultural-exchanges-1Csq6ZnsAco/p.html

Hashtag: #CGTN

The issuer is solely responsible for the content of this announcement.

XTransfer Helps HK Companies Expand into Emerging Markets, Sees Soaring Collection Volume from Asia, Africa, and Latin America


HONG KONG SAR – Media OutReach Newswire – 11 April 2025 – XTransfer, the world‘s leading and China’s No.1 B2B Cross-Border Trade Payment Platform, proudly returns to the Global Sources Consumer Electronics Show 2025 at AsiaWorld-Expo. As one of the most influential global sourcing events, the exhibition draws over 200,000 international buyers seeking to discover cutting-edge products and forge strategic partnerships with suppliers. XTransfer showcases its innovative “Global Business Account” and “Local Currency Account” solutions, offering Hong Kong and global SMEs a more efficient, secure, and cost-effective cross-border payment service.

XTransfer at the Global Sources 2025
XTransfer at the Global Sources 2025

In recent years, global enterprises have increasingly looked beyond traditional markets in Europe and the United States. Amid shifting global trade dynamics, commerce with emerging economies is projected to experience sustained growth. Hong Kong is seeing a notable rise in trade activity with emerging markets, particularly in ASEAN, South America, and Africa, reflecting a broader trend toward diversified global trade partnerships.

According to XTransfer’s latest data, the first quarter of 2025 (January–March) saw a remarkable surge in cross-border collections from emerging markets. Collection volume from XTransfer’s Hong Kong clients trading with ASEAN, Africa, and Latin America increased by an impressive 300% year-over-year, with Nigeria recording the highest growth. During this period, collections from these three regions accounted for nearly 50% of the total collection volume from XTransfer’s Hong Kong clients. Additionally, close to 70% of all clients on the XTransfer platform in Q1 of 2025 exported to Asia, Africa, or Latin America, underscoring a clear shift in trade focus toward high-growth emerging markets.

To support this trend, XTransfer not only provides Hong Kong clients with the “Global Business Account” but also offers the “Local Currency Account”, enabling clients to receive payments in local currencies from multiple emerging countries directly. In addition to traditional markets like the US, Canada, the Eurozone, and Australia, supported countries include ASEAN markets such as Indonesia and Vietnam, Latin American countries such as Brazil and Mexico, and African countries such as Nigeria and Kenya, covering over 30 countries and supporting more than 56 local currencies.

This service addresses the common issue of a lack of US dollars in emerging markets and avoids foreign exchange losses caused by necessary conversions through intermediary banks. For overseas buyers, paying in local currencies also significantly reduces remittance costs for both parties.

Additionally, XTransfer’s “Local Currency Account” support 24 types of local currency payments. Hong Kong companies that need to pay overseas partners in local currencies can do so easily through XTransfer. By using local clearing networks, there are no intermediary bank fees, and payments can be received instantly in the fastest cases. These services are estimated to reduce remittance fees by 95% and foreign exchange costs by 80%, significantly improving cash flow efficiency.

Bill Deng, Founder and CEO of XTransfer, said, “Over the past two years, we have actively participated in local events and exhibitions in Hong Kong, strengthening our presence in the market. This year, we are once again taking part in the Global Sources Consumer Electronics Show further to promote XTransfer’s innovative global trade payment solutions. We aim to help more Hong Kong enterprises adapt to the rapidly changing international trade environment, solve cross-border payment challenges, improve fund operation efficiency, and accelerate global business expansion.”

Hashtag: #XTransfer #EmergingCountries #SMEs #Trade #Crossborder #Payment





The issuer is solely responsible for the content of this announcement.

About XTransfer

XTransfer, the world-leading and China’s No.1 B2B Cross-Border Trade Payment Platform, is dedicated to providing small and medium-sized enterprises (SMEs) with secure, compliant, fast, convenient and low-cost foreign trade payment and fund collection solutions, significantly reducing the cost of global expansion and enhancing global competitiveness. Founded in 2017, the company is headquartered in Shanghai and has branches in Hong Kong SAR, the United Kingdom, the Netherlands, the United States, Canada, Australia, Singapore, Vietnam, Thailand, Malaysia, the Philippines, the UAE, and Nigeria. XTransfer has obtained local payment licences in Mainland China, Hong Kong SAR, Singapore, the United Kingdom, the United States, Canada, and Australia. With more than 600,000 enterprise clients, XTransfer has become the industry No.1 in China.

By cooperating with well-known multinational banks and financial institutions, XTransfer has built a unified global multi-currency clearing network and built a data-based, automated, internet-based and intelligent anti-money laundering risk control infrastructure centred on SMEs. XTransfer uses technology as a bridge to link large financial institutions and SMEs around the world, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations.

XTransfer completed its Series D financing in September 2021 and achieved unicorn status. The Company possesses a diverse composition of international investors, including D1 Capital Partners LP, Telstra Ventures, China Merchants Venture, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks and Lavender Hill Capital Partners.

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