I hate these things, was forever fixing my brothers mini-motos etc but i've given that resposiblity to my cousin now lol.
Yesterday though, my broher had the same problem with his new loncin (?) 125, unfortunatly no stop-cock on the tank so literally ( as carb is sited above the head on it) and it was pissin fuel like a tap on full.
If its still doing it, remove the carb by unscrewing the top accelerator cable from the top of the carb, a sprung damper should follow with a needle. Remove any other attached petrol lines/choke cable if fitted, then unbolt the carb from the inlet manifold.
Let the petrol drain from the carb into a bucket or similar then remove the float chamber on the bottom via the two screws/bolts. remove the axle pin that holds the (usually white) float, and remove this also, placing them on a clean cloth. Remove the little needle that was attached to this, its about 3/5mm wide and 10/12mm long with a fat black pointed tip. Look for ANY dirt, miniscule amounts. What was cloggin the Loncin up yesterday was the most minute trace of dirt ever, smaller than a grain of sand and all it does is not allow the needle to return keeping the float chamber up and the fuel on.
There may be dirt stuck unside the jet(s) so if you have a ompresser blow these out, if not, use a straw/mouth if you're not bothered and blow through these holes as hard as you can. Before re-assembly i would completely wash out your tank catching it in a see-through bottle to see if there isany dirt/plastic/metal shavings in it. If its new even those things are common. If the stop-cock on the tank has a reserve setting, flush it out on this setting also with petrol too. The tanks should have filters in, some cheap ones dont and some dont have inline filters either. Re-assemble, carb pieces after washing off in petrol. i wouldnt recommend sanding any pieces personally, but if they feel sticky use the tiniest amount possible of 2 stroke oil on those parts as this is what they rely on for lube anyway with the fuel IF they even require it.
Once re-assembled, turn the fuel on and bleed the float chamber via the bolt under the float or the screw that opens the valve for the over-flow on the float chamber, let good stream out for about 5 seconds, then re-tighten. (if it was pissin out, this screw valvecould've been the initial problem)
If that doesnt work there other things to check though
Jordan