As the year draws to a close, China has set its sights firmly on the future, with a roadmap laid out during the recently concluded annual Central Economic Work Conference. The focus is clear — scientific and technological innovation will be the cornerstone of the nation's economic strategy heading into 2025. The goal is nothing short of transformative — to create new quality productive forces and overhaul China's industrial system, building a framework for a modernized, tech-driven economy. As a journalist, I find it fascinating to see how the country is positioning itself at the forefront of the next industrial revolution. With major technological projects and large-scale demonstrations of new technologies, China is laying the groundwork for fostering new quality productive forces. This initiative, which centers around emerging technologies such as artificial intelligence and the internet of things, promises to dramatically reshape industries across the board. The government is keen to foster innovation in emerging sectors, nurturing the industries of the future while ensuring that China maintains its competitive edge in strategic technological areas. Yu Hongjun, former vice-minister of the International Department of the Communist Party of China Central Committee, explained that China's push into digital infrastructure is already paying off. Over the past few years, the country has made major strides in establishing a robust digital economy. The widespread adoption of 5G and the development of 6G satellite communication systems have set the stage for what Yu calls a smart, connected economy. He said during the World Internet of Things Convention held recently in Beijing that the rise of new IoT, new data and new business models are quietly but powerfully reshaping China's economic landscape. This is the bedrock of the new quality productive forces the country is betting on for long-term success. As I dug deeper into the details, I realized the scale of what's unfolding here. He Xuming, chairman of the World Internet of Things Convention Executive Committee, said the global digital economy, driven by IoT technologies, is growing at an annual rate of 20 percent. This year, global IoT connections are expected to increase by more than 23 percent to surpass 25 billion. What's even more impressive is that China is leading the charge in IoT infrastructure construction and innovative development in the digital economy. China is poised to build over 4.3 million 5G base stations this year, helping to connect over 3 billion IoT devices, said He, adding that the traditional digital economy in China is projected to reach an annual output value of over 70 trillion yuan ($9.59 trillion), growing at a rate of more than 20 percent. With nearly a million companies already operating in the IoT space, the groundwork for China to lead in new quality productive forces is well underway. Perhaps the most intriguing aspect of this push is its potential to trigger the fourth industrial revolution. Wei Jianguo, former vice-minister of commerce, said the core of this revolution is the convergence of digital technologies with manufacturing processes. The digitalization of industry, Wei argues, will redefine global production systems, and China, with its advanced manufacturing supply chains and digital leadership, is uniquely positioned to spearhead this transformation. Wei further emphasized that the fourth industrial revolution will not only drive economic growth, but also profoundly impact China's social structure, economic models, and the relationship between humans and nature. As I reflect on these developments, it's clear that the shift toward new quality productive forces, driven by AI, IoT and other next-generation technologies, will inevitably position China as a global innovation powerhouse. The government's proactive approach to fostering these changes is strategic, forward-thinking and deeply embedded in its broader economic goals for the next few years. The story unfolding here isn't just about economic growth — it's about reshaping the very fabric of industry and society in ways we're only just beginning to comprehend. As 2025 approaches, all eyes will be on China to see how it executes this ambitious plan and whether it can truly lead the world into the next industrial revolution.RIO DE JANEIRO (Reuters) - Brazilian veterinarians are running against the clock to find and save a heron spotted with a plastic cup struck in its throat in the city of Rio de Janeiro, as they estimate the animal could die within five days if the object is not removed. Jeferson Pires, a veterinary and biologist working at the center for wild animals at Estacio college, first spotted the bird earlier this week among riparian vegetation in the west side of Rio de Janeiro, and shared its situation on his social media platforms. "Although we frequently find the presence of plastic inside the stomachs of animals, we have never caught a case like this," he told Reuters on Wednesday, stressing the large size of the plastic -apparently a 200-milimeter (6.7-ounce) cup of a popular guarana drink. The heron will not be able to eat with an object that big horizontally placed at its throat, and is expected to gradually become weaker and die of hunger within three to five days, he added. "Human beings still have not realized that we need nature, but nature does not need us to live," environmentalist Isabelle de Loys said, adding the environmental situation in Rio de Janeiro and Brazil is getting worse. The veterinarians' plan to save the heron, identified as a Cocoi heron (Ardea cocoi) - the largest species of herons in Latin America that is closely related to the great blue heron - is to capture the bird once it is too weak to fly away, and then proceed with a surgery to remove the plastic cup, according to Pires. In order to save the animal, fist veterinarians will need to locate the heron at the right time, and capture the bird which is about 1.25 meters (4.1 feet) tall and has a wingspan of some 1.8 meters, he added. (Reporting by Sergio Queiroz in Rio de Janeiro; Writing by Andre Romani; Editing by Aida Pelaez-Fernandez and Sandra Maler)
LPGA announces gender-eligibilty policy updateThe Gunners took two points out of Liverpool’s lead at the summit of the Premier League after Jurrien Timber and William Saliba struck in the second half – both from corners – to condemn Amorim to his first defeat as United boss. The hosts’ second-half strikes took their goals-from-corners tally to 22 since the start of last season – a statistic that is unmatched by any other team in the division. Asked if Arsenal are one of the best teams he has come up against on corners, Amorim replied: “If you follow the Premier League for a long time you can see that. “They are also big players and you see every occasion when (Gabriel) Martinelli and (Bukayo) Saka have one-on-ones, a lot of times they go outside and they cross, and they know that if the cross goes well, they can score, and if it is a corner they can score, too, so we have to be better on that. “You have seen in all Arsenal games that every team have had problems with that (corners). And the difference today was the set-pieces. “You see a goal and then the momentum changed, and it is really hard for us to take the full control of the game after that.” Timber leaned into Rasmus Hojlund at the front post before diverting Declan Rice’s set-piece into the back of Andre Onana’s net after 54 minutes to send Arsenal into the lead. Thomas Partey’s header from Saka’s corner then deflected in off Saliba’s shoulder with 17 minutes left. Arteta and the club’s set-piece guru Nicolas Jover embraced on the touchline as Amorim was left with his head in his hands. The Arsenal supporters cheered raucously every time they won a corner – landing 13 in all without reply. However, Arteta moved to play down the significance of Arsenal’s set-piece threat. “We need that, but we want to be very dangerous and very effective from every angle and every phase of play,” said Arteta. “Today we could have scored from open play like we did against West Ham and Sporting. Last year we scored the most goals in the history of this football club. Arsenal have won four consecutive Premier League matches against Man Utd for the first time ever! 💫 pic.twitter.com/biv1kvsJEP — Premier League (@premierleague) December 4, 2024 “Not because of only set-pieces, but because of a lot of things that we have. We want to create individual and magic moments, too.” Arsenal’s win against United – the first time they have recorded four victories in a row against the Red Devils in the league – was their fourth in succession since the international break. They will head to Fulham on Sunday bidding to keep the momentum going. Arteta continued: “The will to win is there. We try our best to do that. We won four in a row, but it doesn’t matter. We have to go to Fulham now, try to be better than them and try win the game. “It’s every three days that we play. It’s a crazy schedule. We’re going to need everybody and to mentally be very strong.”The NSW government has drastically watered down the justification necessary for spending taxpayer dollars as accusations insist a new business case policy allows the premier to make major investment decisions “via media release”. NSW Treasury documents, quietly updated in November, reveal the government has provided a “fast track” pathway for investment decisions, meaning certain projects will not be subject to a business case assessment if they qualify under certain criteria. Under quietly updated reforms of NSW business case guidelines, the threshold for investment now includes a “public commitment” by the premier. Credit: Dominic Lorrimer A business case usually includes an overview of the purpose, benefits and costs of the investment decision, providing government justification for spending taxpayer dollars and cost-benefit analysis providing a metric for whether taxpayers dollars are being spent efficiently. The government has come under fire from the state’s audit office for a “lack of transparency” in financial reporting. An audit released in December found eight of the 15 most significant ongoing investment decisions did not have estimated total costs, while one-third did not have an estimated completion date. Projects which meet the following criteria could be accelerated: those considered a “public commitment” of the premier, where delivery is considered “time critical”, when “options development” is constrained by the investment, and when “bypassing or altering the business case” would “create benefits that outweigh risks”. However, a public commitment could constitute any “public statements approved by the premier”, projects that were considered time-critical when a delivery timeframe had been outlined by government publicly, and projects for which the benefits of bypassing the business case could include saving time and money from not proceeding with it. “Benefits include avoided expenditure on business case development and quicker progress to delivery,” the document said. Daniel Mookhey, NSW treasurer Credit: Fairfax “Business cases and assurance should not be done as a ‘tick the box’ when they won’t add value to resource allocation decisions or project delivery. This policy aims to get committed capital projects to delivery faster while ensuring appropriate analysis, due diligence and risk management takes place.” NSW Greens treasury spokesperson Abigail Boyd said while there were legitimate criticisms of the business case process, the new fast-track policy was a “deeply concerning backflip on promises of transparency and accountability” by the Labor government. “This new fast-track policy is a blatant attempt to bypass proper scrutiny and oversight,” she said. “This new policy literally allows the premier to make a major government investment decision via media release. “It deprives the parliament and the public the opportunity to check the government’s homework, to make sure we’re spending public money in ways that are in the public interest and not simply about trying to win elections.” University of Sydney Professor Hugh Harley said while he understood arguments against the premier’s prioritisation, he said the entirety of reforms changes were “sensible” in light of the need for governments to direct finite resources to the greatest good. “The government deserves some credit for reviewing the business case process. It would be entirely reasonable for someone to argue the premier’s prioritisation has gone a little too far, but in the context of the overall reforms I’m fairly relaxed about it,” Harley said, noting the additional role of the auditor-general. A NSW government spokeswoman said the reforms of the business case guidelines were to “sharpen the efficiency, quality and cost of decision-making”, noting that $134 million was spent by the Coalition government on the business case to support building dams at Dungowan and Wyangala — projects that never proceeded. “A refined system means government can reduce wasted hours and wasted money that comes when proposals endlessly cycle through a business case system without a decision ever being made,” she said. Start the day with a summary of the day’s most important and interesting stories, analysis and insights. Sign up for our Morning Edition newsletter .
jetcityimage I am updating my ongoing analysis on AT&T Inc. (NYSE: T ) in light of the strategic update provided during analyst and investor day on December 3rd, 2024. I previously rated AT&T a strong buy for the following reasons: Analyst’s Disclosure: I/we have a beneficial long position in the shares of VZ either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Charles Schwab Corp. stock rises Wednesday, still underperforms market