china
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China sets 5% GDP growth target for international competitiveness
Beijing , March 5, 2025 (NAN) China has set its main targets for development in 2025 as Gross Domestic Product (GDP) growth of around five per cent, over 12 million new urban jobs, and grain output of around 700 million metric tonnes, among others. The GDP growth target for 2025 is the same as the growth rate in 2024. The…
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Featured
Foreign mining activities, major threat to Africa’s prosperity- USIP official
The United States Institute for Peace (USIP) says foreign mineral mining in Africa is a major threat to prosperity in the region. Dr Chris Kwaja, the Country Director of the institute, said this while addressing journalists on Friday in Abuja. Kwaja spoke on the sidelines of the Early Career Scholars Conference with the theme, “USIP Africa -China Project -Early Career…
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economy
Nigeria woos China to advance economic diversification agenda
The Federal Government on Thursday called for deeper bilateral cooperation with China towards advancing Nigeria’s economic diversification agenda. The Minister of State for Foreign Affairs, Amb. Bianca Odumegwu-Ojukwu, called for cooperation in a statement following the visit of the Chinese Ambassador to Nigeria, Yu Dunham, to the Ministry. In the statement by Magnus Eze, the minister’s Special Assistant on Communication…
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Featured
Xi meets China’s tech titans amid economic struggles
Chinese leader Xi Jinping met on Monday with executives from the country’s major tech companies amid domestic economic headaches and international trade conflicts, state media reported on Monday. Present at the meeting were Alibaba co-founder Jack Ma, Huawei boss Ren Zhengfei, and the founder of the Chinese electric car giant BYD, Wang Chuanfu. Observers viewed the Beijing meeting as a…
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Featured
China condoles U.S. over lives lost in jet, helicopter collision
The Chinese government has expressed condolences over lives lost in the midair collision between the U.S. regional jet and U.S. military helicopter at the Ronald Reagan National Airport near Washington, D.C. The incident occurred on Jan. 29, 2025, whereby both planes fell into a river, and no survivors have yet been found. Guo Jiakun, Foreign Ministry Spokesperson of China, made…
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Featured
China recounts 2024 milestones: 5.0% GDP growth, strengthened Nigeria-China relations
Yan Yuqing, China’s Consul-General in Lagos, says her country’s gross domestic product grew by 5.0% in 2024, driving both qualitative economic development and reasonable quantitative growth. This, she said, provided a strong momentum for global economic recovery and international development cooperation. Yuqing made this known at the 2025 Chinese New Year reception and “One World One Spring Huaxing Shines” Spring…
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Asia
China unveils logos for 3 space missions in 2025
The China Manned Space Agency (CMSA) unveiled logos on Monday for three key missions in China’s manned space program this year. The launches of the crewed spaceships Shenzhou-20 and Shenzhou-21 and the cargo craft Tianzhou-9. These new logos symbolise the courage and determination of Chinese astronauts and their commitment to exploring the mysteries of the universe, the CMSA said. A…
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Featured
Tinubu arrives China on state visit
President Bola Tinubu has arrived in Beijing, China, for a five-day official state visit. A statement by his spokesman, Ajuri Ngelale, said he arrived in China at about 9.00 a.m. local time on Sunday and was received by key officials of the Chinese government. Tinubu was also welcomed by governors Babajide Sanwoolu, Sani Uba of Lagos and Kaduna States respectively,…
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Featured
NNPC Ltd begins liquefied gas supply to Japan, China
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has begun shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on Delivered Ex-Ship (DES) basis. Mr Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., quoted Mr Segun Dapo, the Executive President, Downstream, NNPC Ltd., as saying this in a statement in Abuja on Monday. Dapo was quoted as saying…
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foreign
China to strengthen capital market regulation, risk prevention
China’s State Council released a guideline on Friday on strengthening regulation, forestalling risks, and promoting the high-quality development of the country’s capital market. The council stated in the guidelines that the country should aim at building a secure, regulated, transparent, open, dynamic, and resilient capital market. It said that efforts should focus on strengthening regulation, preventing risks, and pushing…
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foreign
Chinese yuan strengthens to 7.0947 against dollar
The central parity rate of the Chinese currency, the renminbi or yuan, strengthened two pips to 7.0947 against the dollar on Monday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by two percent from the central parity rate each trading day. The central parity…
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foreign
China`s Central Bank adds liquidity via reverse repos
China’s Central Bank conducted two billion yuan (about 281.9 million dollars) of seven-day reverse repos at an interest rate of 1.8 percent on Monday. The move aims to keep liquidity in the banking system reasonable and ample, the People’s Bank of China said in a statement. A reverse repo is a process by which a central bank purchases…
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foreign
China-Vietnam border land port reports 520,000 passengers in Q1
The Youyiguan border gate along the China-Vietnam border recorded some 520,000 inbound and outbound passengers in the first quarter of 2024, up 189 per cent year on year, according to local authorities. In the first three months of this year, the land port cleared over 100,000 vehicles, a year-on-year increase of 22.75 per cent, according to the Youyiguan entry-exit…
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foreign
China condemns suspected Israeli attack on Iranian embassy grounds
China has issued a strong condemnation of a suspected Israeli air attack on the grounds of the Iranian embassy in Damascus that claimed the lives of two Iranian generals. “China condemns the attack on the Iranian embassy in Syria,” Foreign Ministry spokesman Wang Wenbin said in Beijing. The security of diplomatic institutions must not be violated, and the sovereignty and…
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foreign
Philippines marks Good Friday with crucifixions, flagellations
More than a dozen penitents were nailed to wooden crosses in the Philippines on Friday, while others whipped their backs bloody in gory re-enactments of Jesus Christ’s death. The Good Friday rituals, the highlight of Easter week celebrations in the predominantly Catholic country, were held in several villages amid intense summer heat and humidity that triggered rain showers in some…
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OIL&GAS
Big companies facing pressure over investment in oil and gas-Expert
An expert in geosciences, Dr. David Egya, says big companies are currently facing a lot of pressure when investing in oil and gas due to the global upsurge in the energy transition. Egya made this statement during his presentation at a session on `Opportunities and Challenges in the Renewable Energy Potential of Nigeria` at the 59th Annual International Conference and…
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Metro
How to build solid China-Nigeria community— Chinese Envoy
Yan Yuging, Consul General of China in Lagos, says to build a closer China-Nigeria community with a shared future, more think-tank scholars who understand China, Nigeria, Africa, and the world are needed. Yuging said this at the maiden edition of the Lagos Forum, organised by the Nigerian Institute of International Affairs (NIIA) in partnership with the Chinese Consulate, Africa-China Economy…
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