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tv   Asia Business Report  BBC News  March 5, 2024 3:30am-3:46am GMT

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for the year at around 5%. amid measures to visit the economy. china also plans to target an urban umemployment rate of around 5.5% by crearting 12 million new urbanjobs. they also see inflation or the consumer price index increasing 3% this year. regulation of financial markets and research in areas like new technology like ai will increase. for more, our asia business reporter katie silverjoins us live from our news room. what was your biggest takeaway. around 5% growth target, something he has acknowledged may well be hard to meet. this was something of a morale boost, trying to get chinese consumers out spending, consumption has been one of the
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biggest challenges facing china's economy. a huge crisis when it comes to confidence as a result of the property crisis. trying to get people out spending again. they said for example that china would surge ahead towards a great future and the question is that 5% target, there was not a lot of specific about how they're going to achieve this. he also lauded the past achievements, talking about science, technology and artificial intelligence as well as the airline. ~ ., ., , intelligence as well as the airline. ., , airline. what was beyond the economy? — airline. what was beyond the economy? the _ airline. what was beyond the economy? the birthrate - airline. what was beyond the economy? the birthrate was| airline. what was beyond the i economy? the birthrate was an interesting _ economy? the birthrate was an interesting element. _ economy? the birthrate was an interesting element. china - economy? the birthrate was an interesting element. china is i interesting element. china is facing a demographic crisis. people are not having enough babies and that raises questions about the future of the workforce. they said they will improve access to parental leave, childcare services and sharing the costs with employees and employers when it comes to improve access to
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childcare. taking away some of the impediments that stop chinese people from having children. another element was defence spending, 7—.2%, the highest ever growth target when it comes to spending on defence. it comes to spending on defence-— it comes to spending on defence. ., ~ , ., , . defence. thank you very much, katie silver. _ eric zheng, the president of american chamber of congress from shanghai. certainly, it is a brief report, a little bit shorter than prior years but a very pragmatic approach to reviving the economy with very much a focus on how to stimulate growth and certainly 5% is not a small number, and when you look at the overall gdp, last year, 126 trillion rmb, if you target 5% of that 6.3 trillion rmb,
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that is equivalent of a mid—sized country and that ——126 trillion rmb, if you target 5% that 6.3 trillion rmb, that is equivalent of a mid—sized country and that will contribute again probably 30% of the global growth this year so it is a reasonable number and based on provincial budgets from 3a provinces and municipalities, it is a reasonable target. we are certainly very happy to see that number confirmed today. a reasonable number and target but it is down from the 5.2% from the year before. does that point to the challenges china is facing? certainly the work report talked quite a bit about challenges both international, external as well as domestic challenges and china certainly in this challenging period to stimulate growth, i think, the key part is consumption. how do you encourage
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people to spend? from a fiscal standpoint, certainly i think the new report revealed that if there were issued new government bonds, a total of another1 trillion on top of what happened late last year — they issued 1 trillion rmb — so hopefully hopefully this will be the beginning part and on the consumer side the government also is talking about encouraging households to spend more in terms of buying big—ticket items. like home appliances, automobiles and so forth. i think the key unknown kind of solution is what to do with the real estate market because there is such an overcapacity in the real estate market used to drive the growth of the chinese economy and what do we do with that
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and that remains to be seen. apple has been fined for breaking competition laws. according to the eu commission it abused its position by preventing streaming services from informing users of alternative options outside of the app store. this is illegal of the eu anti—trust rules. apple is set to appeal a decision saying there was no evidence consumers were harmed. their stock was down over 2% on wall street. elon musk, never a stranger to the headlines, and just last week he was in the headlines for suing openai and its ceo sam altman, but this week he's he's facing a lawsuit of his own. we have this report. elon musk is being accused of unfairly depriving four top twitter executives out of their severance. the former execs say mr musk owes them more than $128 million collectively and they're suing. here's the discrepancy. mr musk said at the time
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that he fired them for cause, and therefore he didn't need to pay them severance. but the former executives say that's not true. they'd been on the forefront of efforts to make mr musk follow through on his acquisition of twitter after he offered and then backed away. the group includes twitter�*s former chief executive, the company's former chief financial officer, the former chief legal officer and the former general counsel. the lawsuit was filed in federal court in california on monday. a major aviation deal, spirit airlines and jet a major aviation deal, spirit airlines andjetare a major aviation deal, spirit airlines and jet are stopping the merger. —— jet blue. spirit will now face troubles alone. turning our focus to the development of vaccines.
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now, there are more than 25 safe and effective vaccines to prevent disease, but millions still die every year, because the vaccines don't get to the people that need them. one company has been looking at ways to streamline the process. my colleague lara lewington from bbc�*s click went along to find out. chikungunya is one of the infections that's spread by mosquitoes. it's usually confined to sub—saharan africa, but has started to spread. one vaccine has just been approved by the food and drug administration in the us, but others are working on it too. one of them is the bristol—based start—up imophoron. it's developed a new synthetic protein called addomer. the protein is adorned with parts of the target virus but it's not infectious itself. it's a different approach to how other vaccines like the covid—19 ones were made, but there's one big advantage. the addomer can be produced, stored, transported and brought to the people at ambient
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temperatures, which can go up to 50 degrees. this is a big advantage to other vaccines, which depend on a functioning cold chain. millions of doses of vaccines are lost every year because of inadequate refrigeration, especially when being sent to developing countries. part of the issue is transporting the vaccine from the distribution depot, where it is kept in cold chain conditions, to the site where it's going to be administered. it could be hundreds of miles. and then when they get to the facilities where they're going to deploy the vaccine, more often than not, there's not any refrigeration. another big advantage of the technique being used here is that it could be synthesised to target more than one disease in one shot. so when we put it then into the cryoelectron microscope, the electron beam can go through it and we will see our vaccine particles. the microscope can zoom in to 0.1 nanometre detail, that's one ten—millionth
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of a millimetre. these raw images may not look like much to you or me, but they are a vital part of the process. and if they do succeed, the possibilities in other areas could be huge too, such as cancer vaccines that train the body's immune system to make antibodies against a tumour. this is a small company, though, up against a big challenge, and big pharma, and these vaccines aren't in humans yet, so there's a way to go. french lawmakers has proposed a tax to offset an environmental impact of set forfashion companies. offering thousands of new products every day and a penalty of up to 50% of the selling price has been suggested and would come into force by 2030 if the bill passes.
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it follows best international practices when it comes to development and social commitment. that's it for this edition of asia business report. dojoin us again do join us again for more tomorrow. bye for now. voice-over: bbc news, - bringing you different stories from across the uk. back to training in middlesbrough — ilyas is already thinking about his next bout after taking the welterweight belt in darlington. there's your welterweight champion! it's everyday training, no days off, even after the fight. straight in after two days for the next fight, obviously. obviously, at this amateur level, you keep going as much as you can. at pro level, you get injured more. amateur, you can just keep going. there's a lot into it.
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there's loads of different martial arts, more than 30 i would say. but overall, it's mainly mental toughness that you need. you need, obviously, the discipline. you need mental toughness. you need to be able to carry on going even when your body is tired and tells you to stop, you keep going. ilyas�*s proud dad has been supporting him since he started at 1a. i'm very, very proud. we've been working hard to get this. the sky's the limit now. we've got one title there. we've got another title lined up at the end of march there and another one injune as well. after that, ilyas and his team have their sights set on the american circuit. voice-over: for more - stories from across the uk, head to the bbc news website. hey, i'm zoph with the catch—up. tonight: a new documentary on sarah evarard,
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a real—life james bond speaks out, and a strange sighting in the us. the detective who led sarah everard's murder investigation has told us about the moment she found out her killer, wayne couzens, was a serving met police officer. sarah was abducted, raped and murdered by couzens as she walked home in london, in 2021. detective katherine goodwin told the bbc about the shock of having to break the news to her boss. i knew that i had to tell my boss and i canjust remember the shock of having to just sit on the floor of the office and say to her, "you're not going to believe this, "but he's a police officer." and then the same questions went through her head as went through my head. "are you sure?" sarah evard: the search forjustice is on bbc one at 9:00pm on tuesday and will also be available on bbc iplayer.
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next, apparently working for mi6 can be more exciting than a james bond film. that's according to a director at the uk's secret intelligence service. the officer, who's going by the name kwami, said that, throughout his career, he has seen things way more than what you see in the spy movies. time now to leave you with 10 seconds of tumbleweed. no, really, actual tumbleweed is all over the streets in the us because of high winds of up to 35 miles per hour. hopefully that's the last time we see any tumbleweed on this show. it looks like the hair that i pull out of my hair brush. did not look good. you're all caught up now. see you later.
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hello and welcome along to sportsday. i'm sarah mulkerrins. coming up on the programme: a goal fest for the gunners. they hit six against sheffield united to keep pace in the premier league title race. a big miss forjump racing's biggest festival as constitution hill is ruled out of cheltenham. and plans begin to bring the world athletics championships back to the uk in 2029.
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you're very welcome along to the programme, wherever you are watching around the world. well, arsenal have kept up the pressure in this season's title race in the premier league. the gunners hammered bottom side sheffield united 6—0 to move two points behind leaders liverpool, and arsenal became the first english league side to win three away games in a row by a margin of five or more goals. captain martin odegaard opened the scoring just five minutes into the game. ajayden bogle own goal, along with scores from gabriel martinelli, kai havertz and declan rice had many home fans leaving early at bramall lane. ben white then rounded things off after the break as the blades improved
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a little in the second half. so mikel arteta's side are third,

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