International observers say Xi’s New Year Address sends positive signals to World

Chinese President Xi Jinping's 2026 New Year Address sends positive signals to the international community, according to international observers.

In separate interviews with China Central Television, the observers said Xi reiterated China's commitment to deepening reform and opening wider to the outside world at a high level and the Global Governance Initiative in his New Year Address, delivered on the New Year's Eve, which reflects China's role as a major responsible country, and which injects more certainty and stability into the world.

Judit Eva Nagy, president of the Hungarian-Chinese Friendship Association, stressed the roles of the four global initiatives put forward by Xi in enhancing cooperation and promoting global governance.

"The four major global initiatives put forward by President Xi, especially the Global Governance Initiative, align closely with the current international situation and needs. At a time when the world is undergoing changes and turbulence, this initiative helps strengthen dialogue, enhance international cooperation, and reshape global governance," she said.

Xi proposed the Global Development Initiative, the Global Security Initiative, the Global Civilization Initiative and the Global Governance Initiative respectively in 2021, 2022, 2023 and 2025.

Carlos Uriarte Sánchez, secretary-general of Paneuropa España, said Xi's initiatives and concepts are rooted in benefiting all humanity.

"The initiatives and concepts put forward by President Xi are grounded in the goal of benefiting all humanity. Multilateral cooperation platforms including the Shanghai Cooperation Organization and the Forum on China-Africa Cooperation (FOCAC) fully reflect China's commitment to win-win cooperation, helping push China's development achievements to benefit more countries and peoples," he said.

Efem Ubi, director of studies at the Nigerian Institute of International Affairs, said China is promoting the building of an inclusive global governance system.

"China is pushing for a global governance that is inclusive, that is leading with justice, that is also imbued with equality and, you know, absence of disparity. Invariably, what the president has said is that, you know, China will be at the forefront of this global governance issue," he said.

Ljubiša Ćosić, mayor of East Sarajevo in Republika Srpska, Bosnia and Herzegovina, expressed appreciation for China's principled stance in international cooperation.

"We appreciate the principled position China has upheld in international cooperation. We thank China for treating countries large and small as equals, respecting the will of all peoples, and formulating policies on that basis," said Ćosić.

International observers say Xi’s New Year Address sends positive signals to World

Bulgaria joined the eurozone and adopted the euro as its official currency on New Year's Day, becoming the 21st member of the euro area.

To ensure a smooth transition to the new currency, throughout January, the Bulgarian lev will remain in circulation alongside the euro. Starting Feb. 1, the euro will become the country's sole legal tender.

From Jan. 1 to June 30, the exchange of lev for euros is free of charge at banks and post offices. After this period, currency exchanges will be subject to a fee.

The Bulgarian National Bank has stated that it will exchange levs for euros indefinitely, continuing the process for as long as necessary. But it added that the mandatory dual pricing of goods and services in euro and lev will end on Aug. 8, 2026. Officials and experts have expressed their confidence in the transition process.

Vladimir Ivanov, chairman of Bulgaria's State Commission on Commodity Exchanges and Markets, described 2025 as a year of market stabilization in a brief meeting, saying he expected 2026 to begin similarly, "especially after transaction costs decrease with the introduction of the euro."

Nikolay Valkanov, executive director of the Association for Modern Trade, also said in an interview that retailers, from large chains to small shops, had made significant efforts to ensure a smooth transition to the new currency.

Eurozone accession has been a central priority for the Bulgarian government ever since the country joined the EU in 2007.

It was not until June 4, 2025, that the European Commission announced Bulgaria had met all convergence criteria. On July 8, 2025, the Council of the European Union formally approved Bulgaria's adoption of the euro, effective Jan. 1, 2026.

The eurozone came into existence with the official launch of the euro on Jan. 1, 1999, in 11 countries including France, Germany and Austria.

Currently among the 27 EU countries, there are still six members, namely Sweden, Poland, the Czech Republic, Hungary, Romania, and Denmark, that have not yet adopted the euro.

Bulgaria officially adopts euro with short transition period