Responding to the call of Chinese President Xi Jinping from his New Year message for 2025, Chinese people have pledged all-out efforts in achieving progress in the new year.
In his New Year message for 2025 delivered on Tuesday, Xi said he visited many places across the country in 2024 and saw how the people enjoy their enriching lives, including a Huaniu apple production base in northwest China's Gansu Province, northern Tianjin's Ancient Culture Street, and a mixed-ethnic residential community in northwest China's Ningxia Hui Autonomous Region.
"Huaniu apples grew well in 2024 with high output. In the new year, we will refine precise management so as to enhance the scale and strength of Huaniu apple production, and increase incomes," said Wu Zhengquan, farmer with a Huaniu apple production base in Maiji District of Gansu's Tianshui City.
Xi visited the base on Sept 11, 2024.
"President Xi Jinping showed great care about better education for our children, great elderly care services, as well as better opportunities for development of us young people. Living in this era makes me feel particularly lucky. We are also full of energy in the new year. I believe that our days will be better and better," said Mu Fei, a resident in Tianjin.
Xi visited Tianjin's Ancient Culture Street on Feb 1, 2024.
"We will bear in mind the expectations of General Secretary Xi, ensure solid progress of services for residents in an in-depth and detailed manner, and deliver a better life for every household. I wish our motherland prosperity in the new year," said Ma Tao, employee of a residential community in Yinchuan City of Ningxia Hui Autonomous Region.
Xi visited the mixed-ethnic residential community on June 19, 2024, underscoring the importance of ethnic unity that can be seen in the residents living harmoniously and happily together.
Chinese people pledge efforts in achieving progress in 2025
The renewal of the currency swap agreement between China and Nigeria will enhance bilateral trade and help strengthen Nigeria's local economy, said a Nigerian economist.
At the end of December, China's central bank said that it had renewed a bilateral currency swap agreement with the Central Bank of Nigeria.
The total value of the agreement is 15 billion yuan (about 2.09 billion U.S. dollars), or 3.28 trillion Nigerian naira, the People's Bank of China said in a statement.
The agreement is valid for three years and can be renewed upon mutual consent, according to the statement.
The renewed currency swap agreement allows direct naira-to-yuan payments, cutting costs and easing the financial burden for importers like Martines Tochi.
For eight years, Tochi has relied on China for the supply of electrical cables, lighting equipment, and conductors.
Like many Nigerian traders, he once faced challenges in sourcing foreign exchange to pay suppliers
"Sincerely, we've been sourcing dollars from the black market. And we have been facing serious difficulties in sourcing them. Now, you're not going to source here in Nigeria, so it's a good development, a very good development to us," said Tochi.
Economists see this renewed agreement as a pathway to further strengthen the naira and expand bilateral trade.
"That's a very good opportunity for Nigeria to increase its trade volume with China, and it's one of the things that can help also, strengthen the local economy going by the kind of materials or goods that Nigeria imports from China -- electronics, machineries, equipment and what a view, which are essential for boosting industry, for enhancing the growth of our manufacturing sector and creating jobs in Nigeria at large," said Isaac Botti, an economist.
Nigeria is China's third largest trading partner in Africa, with bilateral trade amounting to 22.56 billion US dollars in 2023.
Renewal of currency swap deal boosts trade between China, Nigeria: economist
