Finance
‘No challenges can stop China’s progress’ Xi Jinping says in 75th anniversary speech
China’s President Xi Jinping speaks during an awards ceremony at the Great Hall of the People in Beijing on Sept. 29, 2024, ahead of China’s National Day.
Adek Berry | Afp | Getty Images
BEIJING — Chinese President Xi Jinping said Monday that no challenges can stop the country from moving forward and reiterated Beijing’s reunification aims with Taiwan.
He was speaking at a reception commemorating the 75th anniversary of the People’s Republic of China, which was founded on Oct.1, 1949.
“The path ahead will definitely see challenges,” Xi said, before calling on the country to overcome uncertainties and risks. “No challenges can stop China’s progress.”
The comments were translated by CNBC from a Chinese state media broadcast.
The brief speech, aired during the state broadcaster’s daily evening news program, noted that Xi and other top Chinese leaders entered the reception shortly after 5 p.m. local time on Monday.
About 3,000 people, including foreigners, attended the event in Beijing, according to state media.
During his speech, Xi emphasized the need to unify under the Chinese Communist Party’s leadership and reiterated Beijing’s “firm opposition” to Taiwan “separatist” activities, while calling for both sides to increase economic and cultural cooperation.
He cast reunification with Taiwan as an inevitable development of history — something he has said previously.
Beijing considers the democratically self-ruled island as a part of its territory.
No mention of trade tensions
Tensions between China and the U.S. and Europe have increased over the last several years, with Western nations increasing tariffs and restrictions on Beijing’s access to advanced technology.
Xi did not mention specific countries or trade conflicts in his Monday speech, instead portraying China as upholding globalization. He broadly thanked “friendly” countries and supporters of China’s development.
He also emphasized Beijing’s claim to Greater China by saying “national rejuvenation” was the hope of Hong Kong, Macao, Taiwan and all Chinese peoples.
The Beijing leader added that China would “spur” the development of Hong Kong and Macao — both self-governed regions which are ruled by Beijing under the “one country, two systems” principle.
In a 2019 speech commemorating the PRC’s 70th anniversary, Xi had said that no force could sway China’s development, amid festivities involving a military parade and large-scale celebrations. Events for the 65th anniversary were more subdued.
Xi’s speech comes at a time of uptick in Chinese markets in recent weeks, with major mainland Chinese and Hong Kong stock indexes recently surging to their highest in more than a year after authorities announced plans to support economic growth. On Thursday, a high-level meeting led by Xi called for halting the real estate decline, and for strengthening fiscal and monetary policy.
While the People’s Bank of China has cut rates in the last week, the Ministry of Finance has yet to announce additional fiscal support.
Dario Amodei, Anthropic CEO, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 21st, 2025.
Gerry Miller | CNBC
Anthropic is in talks to raise a $3.5 billion funding round, significantly more than the amount previously expected, CNBC has confirmed.
The round would roughly triple the artificial intelligence startup’s valuation to $61.5 billion, according to two sources familiar with the deal, who asked not to be named because the details aren’t public. Lightspeed Ventures is leading the funding, with participation from General Catalyst and others, the sources said.
The financing, which was first reported by the Wall Street Journal, signals continued investor demand for top-tier AI companies, even in the face of potential disruption from China’s DeepSeek. Anthropic is backed by Amazon and Google, and had initially set out to raise $2 billion, according to a source.
Anthropic declined to comment.
The company’s last private market valuation was $18 billion. Amazon has poured $8 billion into the startup.
Anthropic was founded by early OpenAI employees and is the creator of the popular chatbot Claude. Earlier Monday, Anthropic released what it says is it’s “most intelligent AI model yet. Its so-called hybrid model combines an ability to reason — or stopping to think about complex answers — with a traditional model that spits out answers in real time.
JPMorgan Chase CEO Jamie Dimon on Monday said the U.S. government is inefficient and in need of work as the Trump administration terminates thousands of federal employees and works to dismantle agencies including the Consumer Financial Protection Bureau.
Dimon was asked by CNBC’s Leslie Picker whether he supported efforts by Elon Musk’s Department of Government Efficiency. He declined to give what he called a “binary” response, but made comments that supported the overall effort.
“The government is inefficient, not very competent, and needs a lot of work,” Dimon told Picker. “It’s not just waste and fraud, its outcomes.”
The Trump administration’s effort to rein in spending and scrutinize federal agencies “needs to be done,” Dimon added.
“Why are we spending the money on these things? Are we getting what we deserve? What should we change?” Dimon said. “It’s not just about the deficit, its about building the right policies and procedures and the government we deserve.”
Dimon said if DOGE overreaches with its cost-cutting efforts or engages in activity that’s not legal, “the courts will stop it.”
“I’m hoping it’s quite successful,” he said.
In the wide-ranging interview, Dimon also addressed his company’s push to have most workers in office five days a week, as well as his views on the Ukraine conflict, tariffs and the U.S. consumer.
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