भारतीय रोज़ नई ख़बरें – भारतीय रोज़ न्यूज़ भारत की सबसे अधिकारपूर्ण, समय पर और विश्वसनीय समाचार सलाहकार वेबसाइट है

Facebook and Instagram face EU investigation over child safety risks

Facebook and Instagram, both social media sites under U.S. big tech company Meta, are facing fresh investigations opened by the European Union (EU) on Thursday over suspicions that they’re failing to protect children online, in violation of the bloc’s digital regulations.

Violations could result in fines of up to 6 percent of a company’s annual worldwide revenue. Tech companies are required to do more to tackle illegal and harmful content on their platforms under the EU’s landmark Digital Services Act (DSA).

The European Commission, the bloc’s executive arm, said it’s concerned that the algorithmic systems used by the two sites to recommend content like videos and posts could “exploit the weaknesses and inexperience” of children and stimulate “addictive behavior.”

It’s worried that these systems could reinforce the so-called “rabbit hole” effect that leads users to increasingly disturbing content.

“In addition, the Commission is also concerned about age-assurance and verification methods put in place by Meta.” The regulator’s concerns relate to children accessing inappropriate content.

“We are not convinced that Meta has done enough to comply with the DSA obligations – to mitigate the risks of negative effects to the physical and mental health of young Europeans on its platforms Facebook and Instagram,” European Commissioner Thierry Breton said in a social media post.

Meta said it already has several online tools to protect children.

“We want young people to have safe, age-appropriate experiences online and have spent a decade developing more than 50 tools and policies designed to protect them,” a Meta spokesperson said.

“This is a challenge the whole industry is facing, and we look forward to sharing details of our work with the European Commission.”

The cases announced Thursday aren’t the first for Facebook and Instagram. They’re already being investigated under the DSA over concerns they’re not doing enough to stop foreign disinformation, ahead of EU elections next month.

(With input from agencies. Cover via Reuters.)

China upgrades Shanghai synchrotron light source facility

An aerial view of the Shanghai Synchrotron Radiation Facility in east China’s Shanghai Municipality. /CMG

The upgraded Shanghai Synchrotron Radiation Facility (SSRF), a key sci-tech infrastructure in east China that aims to reveal the mysteries of the microscopic world, passed national inspection and acceptance on Wednesday.

Started in November 2016, the SSRF upgrades were completed in July 2023. They include the construction of 16 state-of-the-art beamlines and experimental stations, auxiliary laboratories, user data centers, support systems and associated facilities, as well as an accelerator performance upgrade, said Tai Renzhong, vice president of the Shanghai Advanced Research Institute of the Chinese Academy of Sciences.

An aerial view of the Shanghai Synchrotron Radiation Facility in east China’s Shanghai Municipality. /CMG

An internal view of the Shanghai Synchrotron Radiation Facility in east China’s Shanghai Municipality. /CMG

The SSRF, which resembles a nautilus when viewed from above, officially opened on May 6, 2009 as the first third-generation synchrotron light source on the Chinese mainland.

The brightness of the light emitted by the facility is a trillion times higher than that of ordinary X-rays. At the experimental stations of the light source, various samples are illuminated by the synchrotron light, while scientific instruments record information of light-matter interactions. This enables scientists to gain insights into the microscopic world, such as the structure of viruses, and the microscopic architecture and properties of materials.

(With input from Xinhua)

Beijing’s culinary gem: Moscow Restaurant’s timeless cultural exchange

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For over seven decades, Moscow Restaurant has been a cherished destination in Beijing, offering a rich tapestry of Russian cuisine, music, and art amid the city’s bustling culinary scene.

The dining hall of the Moscow Restaurant in Beijing /CGTN

Luan Yufeng, Deputy General Manager of the Beijing Exhibition Center, reflected on the restaurant’s storied past saying, “As Beijing’s inaugural high-end Russian restaurant open to the public, it initially held a special diplomatic status, catering primarily to political figures, officials, Russian experts and intellectuals. Over time, it gradually opened its doors to the public. Decades ago, a meal here could have amounted to several months’ salary, yet eager customers still lined up for the experience.”

Russian dishes are served at Moscow Restaurant in Beijing. /CGTN

The allure of Moscow Restaurant lies not only in its delectable cuisine, but also in its preservation of history and tradition. Whether it’s the vintage Russian silverware from decades past, or the meticulously maintained decor and culinary techniques, each element offers a nostalgic journey for many older generations.

Customers celebrate a wedding anniversary. /CGTN

One customer, celebrating her 45th wedding anniversary, shared her heartfelt connection to the restaurant saying, “Moscow Restaurant holds a special place in my heart. Since my first visit decades ago, I’ve been captivated by its grand atmosphere and sincere Russian performers. It’s become a cherished venue for celebrating life’s milestones.”

Russian performers play instruments. /CGTN

For years, the restaurant serves as a vibrant cultural hub, where Russian musicians like Irina Pratsyuk and Alexander Butko share their talents with Chinese audiences. Pratsyuk, who has performed at the restaurant for over 16 years, expressed her deep connection to China saying, “I feel China is my second home. Through music, I’d like to introduce Russian culture to Chinese people.”

Amid China’s dynamic evolution since the 1950s, the Moscow Restaurant has stood as a beacon of Sino-Russian cultural exchange. Seamlessly blending traditions while adapting to Beijing’s changing landscape, it continues to serve as a testament to the enduring bond between the two countries.

Chinese white dolphins frolic in south China’s Leizhou Bay

Nicknamed “giant panda in the sea,” the Chinese white dolphin is under first-class state protection in China.

South China’s Guangdong Province hosts six out of the seven nature reserves established for the conservation of Chinese white dolphins and their habitats.

Chinese white dolphins in Leizhou Bay, Zhanjiang City, Guangdong Province, south China, May 16, 2024. /CFP

A Chinese white dolphin in the Leizhou Bay, Zhanjiang City, Guangdong Province, south China, May 16, 2024. /CFP

Chinese white dolphins in Leizhou Bay, Zhanjiang City, Guangdong Province, south China, May 16, 2024. /CFP

(Cover: Chinese white dolphins in Leizhou Bay, Zhanjiang City, Guangdong Province, south China, May 16, 2024. /CFP)

South Sudan launches agro-pastoral climate resilience project

South Sudan on Wednesday launched a five-year United Nations-backed project to build the resilience of vulnerable communities to the effects of climate change while restoring ecosystems.

The Watershed Approaches for Climate Resilience in Agro-pastoral Landscapes (WACRESS) is a $33 million climate resilience project that aims to benefit more than 75,000 people and restore over 15,000 hectares of land.

South Sudan on Wednesday launched a five-year United Nations-backed project to build the resilience of vulnerable communities to the effects of climate change while restoring ecosystems. /CFP

Minister of Environment and Forestry Josephine Napwon Cosmas said climate change is currently a major threat to the world, and South Sudan is among the countries in the region most affected.

“The country is currently experiencing severe heat waves, droughts and unpredictable rain patterns. To address these impacts, the ministry has developed climate change strategies and projects to mitigate and adapt to these impacts,” Napwon said in the South Sudanese capital of Juba.

She said the project, which will run from March 2024 to December 2028, will be implemented in Aweil Center and Aweil East counties of Northern Bahr el Ghazal State.

South Sudan’s Minister of Environment and Forestry said climate change is currently a major threat to the world, and South Sudan is among the countries in the region most affected. /CFP

Titus Osundina, deputy resident representative of the UN Development Program (UNDP) in South Sudan, said the project aims to restore ecosystems and build long-term climate resilience among agro-pastoral communities using participatory watershed-based approaches.

Osundina said the UNDP will also re-establish and strengthen market linkages and agricultural value chains while equipping extension agencies to help communities adopt gender-responsive, climate-smart agricultural practices and diversify livelihoods through practical, farmer-field-based approaches and climate change adaptation strategies.

South Sudan is one of the countries rapidly affected by climate change. Over the past four years, persistent flooding in many parts of the country has affected the livelihoods of millions of people, and some areas have experienced drought.

Source(s): Xinhua News Agency

China to set up $42b relending facility for govt-subsidized housing

A government-subsidized housing project is under construction in Nantong City, east China’s Jiangsu Province, March 22, 2024. /CFP

China’s central bank announced on Friday that it would establish a 300-billion-yuan (about $42.25 billion) relending facility to support the government-subsidized housing project.

Local state-owned enterprises are encouraged to use the funds to buy reasonably priced commercial homes that have completed construction, Tao Ling, an official with the People’s Bank of China, told a press conference, adding that these homes will then be used to provide affordable housing.

Source(s): Xinhua News Agency

Ultra-long-term treasury bonds contribute to optimizing China’s debt structure

Editor’s note: Zhu Fangfei is the director at the Research Department of the Institute for Public Policy of Zhejiang University. The article reflects the author’s opinions and not necessarily the views of CGTN. It has been translated from Chinese and edited for brevity and clarity.

China has issued the first batch of special treasury bonds with terms exceeding 30 years showing evident “ultra-long-term” characteristics. Previously, China issued special treasury bonds in 1998, 2007 and 2020, contributing to economic and social stability and development. Compared to previous issuances of special treasury bonds, the proposed ultra-long-term special treasury bonds this time stand out in three aspects:

First, they have ultra-long terms. Long-term bonds are typically those with terms of 10 years or more. Special treasury bonds issued this time have terms of at least 10 years, with some reaching 30 and even 50 years. Historically, China has rarely issued treasury bonds with terms of 30 years or more, and the total outstanding balance of treasury bonds with remaining terms exceeding 25 years is less than 2 trillion yuan ($277 billion). The special treasury bonds for COVID-19 pandemic control issued in 2020 and the additional treasury bonds issued in the fourth quarter of 2023 mostly had maturities of 10 years or less.

An image depicting the Chinese phrase for ultra-long-term treasury bonds. /CFP

Second, they have specific purposes. According to information from the country’s government work report, ultra-long-term special treasury bonds are issued to systematically address funding issues for major projects in the process of building a strong nation and achieving national rejuvenation. Relevant funds will be specifically allocated to support the implementation of major national strategies and build up security capacity in key areas. The bonds will be used to support work in multiple fields, including science and technology innovation, integrated urban-rural development, coordinated regional development, food and energy security and high-quality population growth, Zheng Shanjie, chairman of the National Development and Reform Commission, said in March this year.

Third, they are under special management. Unlike ordinary long-term construction treasury bonds, these ultra-long-term special treasury bonds are included in the government fund budget and are not counted towards the country’s deficit. This means they should be used for specific purposes and not for general expenditures. Meanwhile, the principal and interest payments shall come from special revenues.

Given the above characteristics, these ultra-long-term special treasury bonds planned to be issued this time will not only help boost current domestic demand and stabilize the macroeconomy but also lay a solid foundation for high-quality development.

Consumers purchasing home appliances in Shanghai, China, May 12, 2024. /CFP

Firstly, these bonds will optimize the current structure of China’s government debt and enhance fiscal sustainability. On one end, medium and long-term debt represents a relatively small proportion of China’s current government debt. Special treasury bonds issued this time are ultra-long-term, meaning that the government will only need to pay interest over a long period, and the principal is repaid much later. This relieves debt repayment pressure and enhances fiscal sustainability.

On the other end, central government debt accounts for 42.4 percent of China’s government debt, which is lower compared to most countries. The central government will repay the principal and pay the interest for the 1-trillion-yuan special treasury bonds proposed for issuance this year. Relying on the credit of the central government, the interest rate of these bonds is lower than that of local government bonds of the same term, thus helping reduce the overall government borrowing costs.

Secondly, these bonds will stimulate current investment and consumption, thereby boosting domestic demand. On one end, issuing ultra-long-term special treasury bonds sends a positive signal to the market about the government’s proactive fiscal policy and stabilizes market expectations. On the other end, the 1 trillion yuan in special treasury bonds serves as a significant force in driving domestic demand. From a fiscal expenditure perspective, the ratio of China’s total fiscal expenditure to GDP is about 30 percent. Strengthening fiscal expenditure intensity by issuing these 1-trillion-yuan special treasury bonds this year will further stimulate domestic demand.

From the viewpoint of expanding effective investment, China’s fixed-asset investment grew at a rate of 2.8 percent in 2023, with infrastructure investment growth at 5.9 percent and social sector investment (mainly in education, health and culture) at 0.5 percent. The proposed special treasury bonds will be used for investment in implementing major national strategies and building up security capacity in key areas, thus stimulating further recovery of investment growth this year.

People shopping in an outdoor mall in Beijing, China, May 3, 2024. /CFP

Thirdly, these bonds hold paramount significance for promoting high-quality development. The special treasury bonds issued this time will be dedicated to implementing major national strategies and building up security capacity in key areas, including technology innovation, integrated urban-rural development, coordinated regional development, food and energy security and high-quality population growth. These fields are crucial for implementing new development concepts and supporting innovative, green, coordinated, open and shared development.

However, these bonds also face issues such as enormous potential construction demands, extended investment cycles, low market return, and insufficient funding channels. The special government bonds issued this time will help address these challenges, enabling government investment to play a key role in optimizing the supply structure and driving economic structural transformation and upgrade by raising quality and efficiency through fiscal policies.

(Cover via CFP)

Political show

Political show. Illustration:Liu Rui/GT

Chengdu Museum’s path to international cooperation

The Chengdu Museum Photo: Screenshot from webiste

The Chengdu Museum has joined hands with the Louvre Museum and the British Museum to explore future cooperation. On the eve of International Museum Day, Chengdu Museum launched in-depth cooperation discussions with these two world-class museums through online conferences.

The Chengdu Museum and the Louvre Museum discussed cooperation matters such as exhibition exchanges and talent training through an online meeting on the afternoon of May 14th. The Louvre Museum expressed its appreciation for the Chengdu Museum’s ability to attract large audiences and raised hopes of deepening the partnership through the introduction of high-quality exhibitions over the next five years. The initial plan is to promote a series of exhibitions that can reflect better times and people’s lives in France to Chengdu in 2026-2027.

The Louvre’s classic exhibitions will be actively introduced to the Chengdu Museum in the next three years, providing Chengdu citizens with the opportunity to experience the cultural charm of romantic France at their doorstep.

The following day, an online meeting between the Chengdu Museum and the British Museum was also successfully held. During the meeting, the two parties had a detailed discussion on the themes and directions of future exhibitions. The British Museum recognizes the Chengdu Museum’s international exhibitions and exchange activities.

In the past few years, the Chengdu Museum has maintained close cooperation with top museums in France, the United Kingdom, and other places. The Chengdu Museum said it will continue to play its role as a bridge for cultural exchanges, committed to introducing more high-quality exhibitions, promoting cultural exchanges, and contributing to Chengdu’s creation of a world-famous cultural city.

China’s growing policy support lifts expectations for real estate sector

real estate Photo:Xinhua

Market expectations for China’s real estate industry have significantly improved, with the shares of major developers skyrocketing on Thursday, as Chinese cities step up policy efforts to reduce inventory levels and boost market activity, including plans by some cities to purchase unsold homes to be used in affordable housing programs.

Coming after a top meeting at the end of April, the growing list of policy measures adopted by various localities will help tackle challenges in the housing market, including developers’ financing problems and disruptions in delivering homes, and inject much-needed vitality into one of the crucial sectors of the Chinese economy, experts said.

In a remarkable turn of events, share prices of major Chinese real estate developers, which had been in an extended slump, skyrocketed on Thursday. The Hang Seng Mainland Properties Index, which tracks Chinese property developers listed in Hong Kong, surged by nearly 5 percent on Thursday. Sino-Ocean Group Holding’s shares jumped by more than 46 percent, while those of CIFI Holdings (Group) Co gained nearly 29 percent.

The gains followed multiple news reports of major policy moves to revitalize the real estate sector. Notably, a Bloomberg report on Wednesday said that Chinese policymakers were mulling a proposal to have local governments buy millions of unsold homes, “in what would be one of its most ambitious attempts yet” to clear excess housing inventory.

While there was no official confirmation of the Bloomberg report as of press time on Thursday, announcements of similar plans made by some localities this week drew widespread attention.

On Tuesday, the Housing and Urban-Rural Development Bureau of Lin’an district in Hangzhou, East China’s Zhejiang Province announced that it would buy housing units totaling no more than 10,000 square meters and turn them into public rental housing.

While the announcement by Lin’an drew great attention, there have been similar plans in other parts of China. In April, a district in the city of Shaoxing, also in Zhejiang, made a similar announcement. Other cities implemented similar moves as early as 2022, according to news outlet thepaper.cn.

Yan Yuejin, research director at Shanghai-based E-house China R&D Institute, said that while there have been various trials in different places where local governments purchased unsold homes to use them in affordable housing programs, the move by Lin’an carries extra significance, not least the timing of the announcement.

“The Political Bureau meeting stressed the reduction of inventory… and this is implementing the spirit of the meeting. In this perspective, this is a very important policy shift,” Yan told the Global Times on Thursday, noting that the move could send a very strong policy signal and provide strong confidence for localities to reduce inventory levels.

A meeting of the Political Bureau of Communist Party of China Central Committee on April 30 demanded research on policies to reduce housing inventory levels and improve the quality of newly added housing, noting that efforts should be pursued to establish a new model of the real estate sector to promote its high-quality development.

Chinese localities have moved swiftly to reduce inventory levels, with a growing list of measures, including lifting long-existing restrictions on home purchases in some major cities such as Hangzhou and Xi’an in Northwest China’s Shaanxi Province.

Many cities also announced trade-in programs to encourage homeowners to trade their old homes for new ones, in an effort to boost sales.

Yan said that the move in Lin’an could be followed by other cities, as it represents another major policy innovation in the real estate industry, after the trade-in promotions. “Such policies will have great effects and deserve special attention,” he said.

Moreover, the combination of policies from different levels of government will help tackle challenges in the housing market and promote high-quality development in the industry, which will offer a huge boost for China’s overall economic recovery, experts said.

“The purchase of commercial housing for public rental housing, in my view, could solve both funding problems and destocking problems. It is a logically better approach,” Song Ding, a research fellow at the China Development Institute, told the Global Times on Thursday.

Song said that the plan would effectively help address huge debt pressures faced by developers, which in turn would ensure the delivery of homes to buyers and solve other related issues.

“This approach will help resurrect an entire economic chain that has been stuck,” he said, adding that this will offer a huge boost for the economic recovery.