Tag Archives: China

China: Daily Scan, September 24, 2021

Central bank to promote reform of standing lending facility: Xinhuanet
September 24, 2021

China’s central bank will promote reform of the operation mode of its standing lending facility, as part of efforts to better meet reasonable liquidity needs. The reform, which is referred to as empowering the whole process with electronic technology, will improve efficiency and better stabilize market expectations, said Liu Guoqiang, vice governor of the People’s Bank of China, at a national video conference Thursday.
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Former Kweichow Moutai Group chairman given life sentence :Xinhuanet
September 23, 2021

Yuan Renguo, the former chairman of Kweichow Moutai Group that produces the high-end Moutai liquor in southwest China’s Guizhou Province, has been sentenced to life in prison for taking bribes, said a local court. The intermediate people’s court of Guiyang, capital of Guizhou, pronounced the sentence on Thursday. Click here to read

Sri Lanka’s Hambantota Port signs MOU with China’s bus manufacturer: People’s Daily
September 24, 2021

Sri Lanka’s Hambantota International Port (HIP) has entered into a memorandum of understanding with bus manufacturer Xiamen King Long United Automotive Industry Co., Ltd. in China’s Fujian Province, HIP said in a statement here on Thursday. The MOU was signed at the King Long Motor Group offices in Fujian last week and was attended by representatives from the Hambantota International Ports Group (HIPG) and Ambassador of Sri Lanka to China Palitha Kohona. Click here to read

New guideline focuses on pilot FTZs: China Daily
September 23, 2021

The recent guideline on the reform of China’s pilot free-trade zones will effectively facilitate foreign investment in China, particularly in the services sector, and demonstrates China’s resolution for greater opening-up efforts, experts and industrial insiders said. On Sept 3, the State Council, China’s Cabinet, unveiled a guideline with innovative reform measures to facilitate investment in the country’s pilot FTZs. The new measures include unleashing the potential for offshore trade in these zones, fostering innovation in investment trade and increasing the diversity of commodity futures. Click here to read

Hydrogen stations to drive greener Olympics: China Daily
September 24, 2021

To prepare for the upcoming 2022 Beijing Winter Olympic Games, a newly built hydrogen fueling station in the capital city’s northwestern Yanqing district went into operation last month. The hydrogen fuel produced by the station with a pressure rating of 70 megapascals is low-carbon, renewable and clean, and it can be used as a direct replacement for oil and gas, said Wang Yunlong, head of the station. Click here to read

China to accelerate building of intelligent, unmanned ports in next five years: Global Times
September 24, 2021

China’s Ministry of Transportation issued a plan on Thursday for the construction of new types of basic infrastructure over the next five years, under which accelerating the building of intelligent and unmanned ports was listed as a priority. The plan also comes at a time when China’s intelligent port manufacturing exports are rising rapidly, partly fueled by demand for high-efficiency port solutions and upgrading amid the fallout from the COVID-19 pandemic. Observers said the new blueprint will further strengthen China’s smart port manufacturing ability and further boost its share of the global market. Click here to read

Affiliate of Chinese ride-hailing company fined $30,000 for leaving out Zangnan, Diaoyu Islands from country map of China: Global Times
September 23, 2021

An affiliate of Caocao Chuxing, a ride-hailing app in China that has gained a lot of popularity after industry giant Didi was embroiled in data breach problems, has been fined 200,000 yuan ($30,971) after it was found to have left out Zangnan (southern Tibet), the Diaoyu Islands and a number of other regions from a country map of China in a magazine commercial. Click here to read

Chinese law enforcers told use AI, big data to improve security in unstable times: South China Morning Post
September 24, 2021

A top Chinese security official has told law enforcement officers to make use of hi-tech tools like big data and artificial intelligence at a time of rising uncertainties at home and abroad.
Chen Yixin, secretary general of the Central Political and Legal Affairs Commission, which oversees law enforcement and security, made the remarks during a tour of southern Guangdong province last week. He visited seven cities – including Guangzhou, Shenzhen, Zhuhai and Shanwei – and held seminars with local cadres during the three-day trip, according to a statement from the commission. Click here to read

Pacific trade pact row between Beijing and Taipei a dilemma for members: South China Morning Post
September 24, 2021

A new battleground has opened up between Beijing and Taipei, with an escalating war of words over their separate bids to join a trans-Pacific trade pact. Beijing is calling on the 11 members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to oppose the self-ruled island’s application, a move Taipei has called the act of an arch bully. Click here to read

Quad leaders, meeting in person for first time, are seen to plan several initiatives for confronting China: South China Morning Post
September 24, 2021

The leaders of a new military alliance that the Chinese government has lashed out against in recent months are gathering in Washington and, analysts say, Beijing’s reactions may be undermining its own interests by pushing the Quad into closer military coordination with other US allies. US President Joe Biden is to host the prime ministers of Australia, India and Japan – Scott Morrison, Narendra Modi and Yoshihide Suga – on Friday, after assembling the group via video link just months ago. The leaders of the Quad, or Quadrilateral Security Dialogue, are likely to announce commitments in several nonmilitary areas, among them bolstering the global distribution of Covid-19 vaccines as well as cooperating on supply chain security, 5G telecommunications technology and the infrastructure needed to fight climate change. Click here to read

Beijing’s envoy to US declares China a democracy: Taipei Times
September 24, 2021

A top Chinese diplomat on Wednesday claimed that China is a democracy, saying that its political system exemplifies the ideals of former US president Abraham Lincoln and the ancient Greeks, who invented a representative form of government. Chinese Ambassador to the US Qin Gang cited the right of Chinese people to participate in certain elections and consultations over major policies as evidence of a democratic system not unlike that in the US. Click here to read

U.S. Commerce chief says more action to be taken on Huawei if needed: Reuters
September 24, 2021

U.S. Commerce Secretary Gina Raimondo said on Thursday the Biden administration will take further action against Chinese telecoms firm Huawei if necessary, after some Republican lawmakers have pressed for more steps. Washington says Huawei is a national security threat on a variety of grounds and aggressively lobbied other countries not to use Huawei equipment in next-generation 5G networks. Citing Huawei’s ties to the Chinese government and military, Washington says this makes the company susceptible to “Chinese governmental pressure to participate in espionage.” read moreClick here to read

China: Daily Scan, September 23, 2021

China expresses grave concern over U.S.-UK-Australia nuclear submarine cooperation: Xinhuanet
September 22, 2021

China on Wednesday expressed grave concern over the cooperation between the United States, the UK and Australia on nuclear submarines, stating that it deliberately escalates regional tensions, provokes an arms race, threatens regional peace and stability, and undermines international nuclear non-proliferation efforts. Click here to read

China issues guideline for IPR development: Xinhuanet
September 22, 2021

China released a 15-year plan (2021-2035) on the development of intellectual property rights (IPR) Wednesday. The plan, which demands stricter IPR protection, a high level of public satisfaction, and greater market value of IPR by 2025, was released by the Central Committee of the Communist Party of China and the State Council. Click here to read

Chinese diplomat calls on int’l community eliminate legacies of colonialism: People’s Daily
September 23, 2021

Chinese Ambassador to the United Nations at Geneva, Chen Xu, on Wednesday urged the international community to make more efforts to eliminate the negative impact of legacies of colonialism, promote and protect human rights, and enhance international justice. Click here to read

China’s GDP forecast to hover above 8%: China Daily
September 23, 2021

China is expected to see 8.1 percent economic growth this year, as solid export performance and increased fiscal support in the second half will offset a more protracted recovery in household consumption, said economists at the Asian Development Bank. The forecast made by the Manila-based development bank on Wednesday was unchanged from its projection in April. However, the ADB lowered the GDP growth forecast for developing Asia, which groups 46 developing economies in the Asia-Pacific region that are members of the bank, to 7.1 percent this year, down from the prediction of 7.3 percent in April. Click here to read

New plan adopted to lift domestic demand: China Daily
September 23, 2021

The State Council executive meeting chaired by Premier Li Keqiang on Wednesday adopted the 14th Five-Year Plan for New Infrastructure Development, to spur domestic demand, economic transformation and growth sustainability. In the 14th Five-Year Plan period (2021-25), a well-calibrated layout will be in place for the development of new infrastructure, underpinned by information networks and technological innovation. This is conducive to sustaining growth, facilitating structural adjustments and benefiting the people. Click here to read

Economic sanctions on Afghanistan must end, humanitarian aid is of great urgency, says Chinese FM Wang Yi: Global Times
September 23, 2021

Chinese State Councilor and Foreign Minister Wang Yi on Thursday called for immediate humanitarian aid to Afghanistan and said economic sanctions should be lifted among other suggestions to jointly bring peace to the war-torn country. Wang made the remarks at the G20 foreign ministers’ meeting on Afghanistan via video link. Click here to read

China’s J-16D electronic warfare jet to make debut at Airshow China: Global Times
September 22, 2021

The J-16D, the electronic warfare variant of China’s J-16 fighter jet, will make its debut at the Airshow China next week. This indicates that the aircraft is in service with the People’s Liberation Army (PLA) and will give it an edge in electromagnetic space with powerful jamming capability, experts said on Wednesday. A J-16D aircraft landed in Zhuhai, South China’s Guangdong Province on Tuesday afternoon in preparation for its debut at the Airshow China, to be held from September 28 to October 3 in the city, China Central Television (CCTV) reported on Wednesday. Click here to read

China sees slower R&D growth in 2020 as government spending on science and technology fell amid the Covid-19 pandemic: South China Morning Post
September 22, 2021

Research and development spending made up a record 2.4 per cent of China’s economy in 2020, according to government statistics, moving closer to levels of R&D intensity in other advanced economies as spending slowed down as a result of interruptions from the Covid-19 pandemic. China spent a total of 2.43 trillion yuan (US$375.7 billion) on R&D in 2020, up 10.2 per cent from the previous year, according to a report published jointly by the National Bureau of Statistics, the Ministry of Science and Technology and the Finance Ministry on Wednesday. It marked a slowdown from 12.5 per cent growth in the previous year. Click here to read

Xiaomi denies censoring users after Lithuania recommends avoiding Chinese smartphones: South China Morning Post
September 23, 2021

China’s Xiaomi said on Wednesday that its devices do not censor users’ communications, a day after Lithuania’s Defence Ministry recommended that consumers avoid Chinese phones due to a censoring feature in the smartphone giant’s flagship phone. The censoring capability in Xiaomi’s Mi 10T 5G phone software has been turned off for the “European Union region” but can be turned on remotely at any time, the National Cyber Security Centre said in a report on Tuesday. Click here to read

China sending COVID-19 aid to Burmese rebels: Taipei Times
September 23, 2021

Delivering vaccines to Myanmar’s junta, but also to rebel groups that are the generals’ sworn enemies, China is playing both sides to strengthen its hand in the messy politics of its southern neighbor. Beijing has already handed over nearly 13 million doses to the generals, who in February ousted the government of civilian leader Aung San Suu Kyi and plunged Myanmar and its healthcare system into chaos. Click here to read

Evergrande domestic debt deal calms immediate contagion concern: Reuters
September 23, 2021

China Evergrande agreed to settle interest payments on a domestic bond on Wednesday, while the Chinese central bank injected cash into the banking system, temporarily soothing fears of imminent contagion from the debt-laden property developer. Evergrande , Asia’s biggest junk-bond issuer, is so entangled with China’s broader economy that its fate has kept global stock and bond markets on tenterhooks as late debt payments could trigger so-called cross-defaults. Click here to read