China to increase high-quality imports as economy recovers, vice premier says
China will step up imports of high-quality foreign goods and services as the economy makes a steady recovery, vice premier Han Zheng said on Sunday. The world’s No.2 economy, will strengthen macro policy coordination with other countries, Han told the China Development Forum, a high-level business gathering hosted by the Development Research Centre of the State Council. “Since the start of this year, China’s economic operations have continued a steady recovery trend,” Han said. “We will adjust and improve import tax policies, increase imports of high-quality products and imports of services,” he said without giving further details.
Alaska summit: what the US and China agree on, and what still divides them
The two sides are far apart on issues such as Hong Kong and Xinjiang, which Beijing insists is none of Washington’s business But they have agreed to work together on issues such as climate change and regional stability
China’s ambitions are clear. It wants to be the world’s leading power: economically, militarily and technologically. That the U.S. has been complicit (through a lackadaisical attitude to technology transfer or to China’s thrust into markets worldwide) without substantive preparedness or a countervailing response to its global challenges only helps China achieve its aims. Is the US then destined to lose this contest with China? It is what often happens between a rising power and a complacent leading one.
America’s 1980s Japanese lesson for today’s China
Wiser heads in Washington would not want the Chinese communist state to collapse and cause chaos across Asia and the world economy. The best outcome for them would be a Japanese-style, decades-long stasis, which would put a stop to China’s rise
Alaska tirade shows China and the US are further apart than ever
Beijing pushback a sign of its growing confidence abroad China is increasingly confident it is gaining America’s measure across the spectrum of competition, be it economic, military, technology and regional supremacy, and Yang’s speech and the country’s diplomacy more broadly reflects that. China has always had “wolf warrior” diplomats. The world is simply seeing more of them these days because Beijing feels safe in belligerently pushing back against its critics in public. Yang’s tirade seemed to be a calculated display of disrespect for his two U.S. counterparts, Antony Blinken, 58, and Jake Sullivan, 44, whom he seems to consider to be green and young. Yang’s point, of course, is that the U.S. has shown disrespect for the Communist Party and the political system it presides over. He was returning the favor in spades.:; In this new era of superpower competition, Yang’s meeting opener had another purpose: to show countries that may either be antagonistic to the U.S., like Iran, or the many others that want to sit on the fence, that they can stand up to — and indeed — lecture the Americans. This may not have the effect of intimidating Washington, but it is useful as a display of power for any other country looking on, be they in the Middle East, Africa or Southeast Asia or the Pacific. Many countries that have been on the receiving end of lectures from Washington over the years may have been quietly thrilled to watch Yang at work. To which the new administration might respond: Be careful what you wish for.
What did China and US learn about each other from Alaska talks?: Global Times editorial
After a fierce, tit-for-tat opening, the close-door strategic dialogue afterward between China and the US in Alaska went smoothly and the result was far better than people’s expectations. Both sides completed three rounds of talks. Both admitted in their press conferences that the talks were “candid” and each sought to work with the other side in some fields. The very role of a strategic dialogue is to boost mutual understanding and avoid strategic miscalculation. To this end, the latest one between China and the US made some progress.
Bloomberg New Economy: Chinese Diplomats Aren’t Smiling Anymore
China’s top diplomat, Yang Jiechi, came to Alaska this week loaded for bear. Seated across from a new set of American foreign policy officials led by Secretary of State Antony Blinken, he unleashed a 16-minute jeremiad that signaled scornful indifference to U.S. complaints about China’s domestic human rights abuses and international assertiveness in places like the South China Sea. “The challenges facing the U.S. in human rights are deep-seated,” Yang said at one point, turning the tables by citing nationwide protests against the near-regular drumbeat of American police killings of unarmed citizens of color.Yang is a master of what’s become known as “Wolf Warrior” diplomacy, a term that alludes to the Chinese Rambo-style action film, Wolf Warrior 2. And when it comes to the U.S., the Trump administration and the social upheaval of 2020 have given him plenty of ammunition. Although the stylized aggression of Chinese ambassadors and foreign ministry spokespersons has become a feature of President Xi Jinping’s administration, it long predates him. We just haven’t seen it practiced for a while. In the years before Xi ascended to power in 2013, China had experienced a period of “smile diplomacy.” Now, no one’s smiling anymore.
US-China talks: what message did their public spat send to observers?
Observers believe the testy exchanges that opened the meeting in Alaska were aimed at domestic and international audiences US may have been trying to send a signal to its allies by accusing China of ‘coercion and aggression’
Is US-China friction at Alaska meetings a sign of worse to come or start of something better?
Analysts in Asia say both Washington and Beijing are hesitant to give ground on issues that divide them, like the South China Sea But others see possible areas of cooperation, such as over Myanmar, climate change and the coronavirus pandemic
Alaska talks: for China and the US, a narrow road through deep divisions
Relations will get worse before they get better as each country regroups with allies and partners, observers say The Anchorage meetings were a chance for each side to size the other up as they consider longer term plans
Alaska talks: officials’ take on ‘one-China’ reveals two opinions on Taiwan
Washington may have switched its diplomatic allegiance to Beijing from Taipei in 1979 but that doesn’t mean it supports the mainland’s goal to ‘reunify’ the self-ruled island, observers say US Secretary of State Antony Blinken said after the talks in Anchorage that the two sides remained fundamentally at odds over Taiwan
Americans are still interested in putting their money in China
“U.S. investors continue to be very interested in investing in (the) Chinese market,” Tao Wang, head of Asia economics and chief China economist at UBS, said Thursday during a webinar with the Institute of International Finance. “Especially from the bond market perspective, there is a structural increase in the interest.” In just two years, foreign holdings of Chinese government bonds have nearly doubled to over 2 trillion yuan ($307.7 billion), according to data from Wind Information.
China, US set to work on climate
China and the United States will set up a joint working group on climate change, China’s official Xinhua news agency said, in a potentially positive takeaway from what was an unusually rancorous high-level meeting. The top Chinese and US diplomats, in their first meeting of Joseph R. Biden’s presidency on Thursday and Friday, publicly rebuked each other’s policies at the start of what Washington called “tough and direct” talks in Alaska. But the Chinese delegation said after the meeting the two sides were “committed to enhancing communication and cooperation in the field of climate change,” Xinhua said on Saturday
China to Reduce Emissions of Methane, a Powerful Greenhouse Gas
Long neglected, methane received its first-ever mention in China’s latest five-year plan. Climate change experts are optimistic that China will begin systematically reducing emissions of methane, a potent greenhouse gas of which the country is among the world’s biggest emitters, but they say more specific measures are needed still.
China’s war on the credit boom
A campaign led by vice-premier Liu He to reduce the danger of uncontrolled lending could strangle the private sector. China’s private sector accounts for 80 per cent of China’s urban employment and 60 per cent of economic output. “Squeezing P2P lenders and the shadow banking sector does constrain lending to the private sector,” says Eswar Prasad at Cornell University. “China,” he adds, “seems to take the path of giving innovators a lot of room and then cracking down hard when they grow too powerful or the risks become too large to ignore.”
China Still Has Room to Provide Liquidity to Economy: PBOC Chief
China still has room to pump liquidity into the economy while keeping its leverage ratio stable, People’s Bank of China Governor Yi Gang said in Beijing on Sunday. China’s macro-leverage ratio, or total debt-to-GDP ratio, remains at a stable level, Yi said at the China Development Forum in Beijing. “This will not only provide positive incentives for economic player
China’s rising wealth drives shift in growth ambitions
China’s latest five-year economic plan introduces more flexibility to its growth targets The country may see its GDP expand 9% this year, and focuses on economic quality as average incomes rise First to recover from the pandemic, China is the first to normalise policy support Short term, we have cut Chinese equity exposure to reflect slowing market momentum.
Russia, China can reduce sanctions risks by moving away from US dollars, Sergey Lavrov says
Russian foreign minister says the nations should work together and strengthen self-reliance in science and technology He made the remarks ahead of talks with his counterpart Wang Yi in the southern Chinese city of Guilin
China’s semiconductors: How Wuhan’s challenger to Chinese chip champion SMIC turned from dream to nightmare
Hopes that the HSMC facility could still proceed faded after more than 240 employees were asked to resign by March 5 The failure of HSMC was a setback but it won’t deter China’s push for self-sufficiency in chips, according to analysts For the Wuhan government, it has been a painful lesson. “For China’s hi-tech industry, it’s not necessarily a bad thing,” said Zhou from Decent Capital. “HSMC is like a whale. After its death, its corpse – the talent and equipment – will soon be digested by others (in the ocean), so it’s not a waste for the entire ecosystem
Taiwan hits back at mainland Chinese firms fishing for its chip makers
Beijing’s drive for technological self-sufficiency has led to an exodus of Taiwanese engineers lured away by the promise of a big salary But Taipei also accuses mainland Chinese firms of illegally setting up operations on the island to feed the recruitment drive
Data privacy: China defines for the first time ‘necessary’ information that apps can collect, closing ‘bundled consent’ loophole
Users of live-streaming, short video, news, browser and utility apps can access basic services on these platforms without providing personal information The new rules come as China seeks to expand the internet industry’s role in economic growth, while providing more protection for consumers’ personal data
Alibaba Cloud launches its first personal cloud product, challenging Baidu and Tencent
The service, which opened for public testing on Monday, offers users up to two terabytes of free storage and ‘unlimited’ uploading and downloading speeds China’s personal cloud service market, which had 404 million users last year, continues to grow amid a rapid uptake of online services by consumers
Chinese environmentalists delighted as Beijing inquiry backs Dunhuang deforestation claims
Central government team finds significant deforestation at state-owned Yangguan Forest Farm in Gansu province to make way for commercial vineyards ‘By rejecting the claims of the Gansu government, the [central government] team showed the inquiry wasn’t just a cover-up’, ecology expert says
Success of nuclear reactor Hualong One suggests it can compete with wind and solar to drive China’s decarbonisation
With the first Hualong reactor delivered on schedule, the costs have come down, says Xiamen University’s Lin Boqiang China has a clear advantage over European rivals in the sector The fact that many nuclear plants’ useful lives have been extended from 40 years to 60 years and are likely to rise to 80 years, will greatly lower their full-cycle energy production cost, he added. Many countries are still undecided on whether to resume nuclear energy expansion due to safety concerns, said Xiamen University’s Lin. “At some point, we must make an assessment, whether climate change or nuclear power pose a greater threat to our safety,” he said, adding that the intermittency of wind and solar power will make their absorption by the grid system increasingly challenging unless many energy storage facilities are built.
China’s financial institutions must help fund carbon neutrality goal, says central bank governor
Yi Gang says financial markets must step in to provide the funding needed to meet the country’s climate change targets Xi Jinping has pledged to reach peak emissions by 2030 and to make China carbon neutral by 2060 Yi also said there needed to be more research into how climate change would affect financial stability and monetary policy, including the cost of extreme weather events and the impact of high carbon emissions on companies’ asset values. The central bank has made green finance a central task in its new five-year plan for 2021-2025, Yi said, highlighting the need to strengthen information disclosure on climate change issues, encourage financial institutions to cut emissions and deepen international cooperation in achieving global solutions.
Can China’s ‘digital silk road’ ensure dominant role in information super highway?
The Peace cable, which is due to be completed later this year, will link Pakistan to Europe and Africa But the project, and Huawei’s involvement, has raised security concerns in the United States
China leaves key interest rate unchanged for 11th straight month as it moves to cautiously scale back economic stimulus
Beijing policymakers continue to worry about excess US liquidity, putting pressure on Washington to normalise policies Inflation worries have already caused three emerging market central banks to raise interest rates in the past week
China’s unloved stocks 2 per cent away from bearish trap as Fed policy, bubble worries spur flight to safety
Trading volume in Shanghai and Shenzhen shrank on March 17 to the lowest level this year, showing cooling enthusiasm among investors Technical indicators are worrisome too, as indices approach bear-market tipping point, or have breached those markers
Small businesses’ confidence in Hong Kong sinks to an all-time low, CPA Australia survey shows
Only 21 per cent of small firms expect business to grow this year, the lowest since CPA Australia started the survey in 2009 Confidence among Hong Kong’s small businesses is the lowest among all markets surveyed in Asia-Pacific for a second year in a row
Xinjiang: EU hits China with first sanctions since Tiananmen Square
Four individuals and one entity targeted over alleged human rights abuses in the far western region Chinese government is drafting countermeasures against the bloc, state media report
EU agrees first sanctions on China in more than 30 years
The European Union has imposed the first sanctions against China in more than 30 years.The new raft of measures is aimed at four Chinese officials and one entity believed to be involved in the alleged human rights violations of the Uyghur Muslin minority.
Xinjiang sanctions not enough to convince China hawks to support EU investment deal
Brussels is set to roll out its first sanctions against China since 1989, but lawmakers in the European Parliament say they do not go far enough With China threatening to hit back, Beijing analysts fear the sanctions could be the catalyst for a souring in bilateral ties For Wang Yiwei, an expert in European affairs at Renmin University in Beijing, the CAI is the most important part of bilateral ties. He said he hoped that amid the European Parliament’s human rights concerns, the sanctions might provide “necessary balance” for Brussels in gaining approval for its deal with Beijing. All the negative issues in the China-EU relationship should be addressed in the first half of this year, so that in the second half, or next year, when France takes the EU presidency, the CAI can really progress,” Wang said.
The narrative surrounding China’s ‘debt-trap diplomacy’ is a lie that doesn’t stand up to scrutiny
China, we are told, inveigles poorer countries into taking out loan after loan to build expensive infrastructure that they cannot afford and that will yield few benefits, all with the goal of Beijing eventually taking control of these assets from its struggling borrowers. As states around the world pile on debt to combat Covid-19 and bolster flagging economies, fears of such possible seizures have only amplified. Seen this way, China’s internationalisation – as laid out in programmes such as the Belt and Road Initiative – is not simply a pursuit of geopolitical influence but also, in some tellings, a weapon. Once a country is weighed down by Chinese loans, like a hapless gambler who borrows from the Mafia, it is Beijing’s puppet and in danger of losing a limb.
With Eye on China, India and US Pledge Deeper Strategic Partnership
India and the United States have pledged to work together to deepen their strategic partnership during a visit by U.S. Defense Secretary Lloyd Austin to New Delhi. The first visit by a top official of the Biden administration to the Indian capital comes as Washington moves ahead to form an alliance of countries that can act as a counterweight to Beijing and India embraces closer ties with the U.S. amid its own growing concerns about Chinese assertiveness.
‘Hundreds’ of China boats in disputed sea
The Philippines has expressed concern about hundreds of Chinese military vessels it says were spotted this month in the disputed South China Sea. The Philippine Coast Guard reported that some 220 vessels, believed to be manned by Chinese maritime militia personnel, were seen moored in line formation at a reef on March 7, a cross-government task force said late on Saturday.
Japan, South Korea take different approaches to China relations
East Asian neighbours highlighted their priorities in talks with senior US officials last week Tokyo took a harder line with Beijing, but Seoul was more conciliatory
China’s embassy in Paris attacks ‘mad dogs’ and defends Wolf Warriors in public row with French scholar
Diplomatic triangle of Beijing, Paris and Taipei gives rise to Twitter barbs and screed over ‘anti-China provocations’ Research fellow Antoine Bondaz urges Beijing to ‘stop before it has gone too far’
Second Canadian, Michael Kovrig, goes on trial in China on spying charges with diplomats refused access
Beijing trial of analyst and former diplomat follows hearing of compatriot Michael Spavor in northeastern China on Friday Detention of the pair is suspected retaliation for the arrest in Canada of Huawei executive Meng Wanzhou
Elon Musk denies Tesla cars are being used for spying in China
If company ‘used cars to carry out espionage activities in China or anywhere, we will get shut down’, he says Comments come after Tesla cars are banned from military complex over security concerns
China’s millennials, Generation Z leading nation away from Hollywood films, American culture, US brands
Blockbuster films like Avatar, Transformers: Dark of the Moon and Titanic once topped the box office charts; now domestic films like My People have taken over Amid changing sentiment in China, the likes of Nike, McDonald’s and Coca-Cola have also been forced to change their approach
Why dating apps with Chinese characteristics are capturing the hearts of Gen Z and millennials
Young romance seekers flock to a new breed of dating services created to fill the gaps left by existing apps like Tinder Some are designed to help users savour the matchmaking process, while others match graduates of elites universities with each other
Vaccinations Only Way Out of Pandemic, China Tells Reluctant Public
Officials say getting inoculated needs to be a priority even for people who don’t feel they’re at risk of catching the coronavirus.
For China’s Middle-Aged Women, Depression Is an ‘Invisible Killer’
Menopausal depression is a hidden epidemic in China, where many remain reluctant to discuss mental health issues openly. But the silence only makes the disease’s effects more frightening.
China’s greatest archaeological finds: from a lost civilisation and the Terracotta Army to the world’s oldest noodles and male beauty products
Artworks unearthed Sichuan point to the existence of a previously unknown civilisation – the latest in a series of discoveries that shed new light on the pastPrevious finds range from the tomb of the first emperor to early examples of food and drink
Chinese social media continues love-in with ‘most beautiful’ interpreter after Alaska talks
Zhang Jing has been widely praised online for her language skills with admirers saying she helped ease tensions The senior officials taking part in the talks also joked about her role, with US Secretary of State Antony Blinken joking that she deserved a raise
Service Asie Pacifique
Place Sainctelette 2
Tél 02 421 85 09 – Fax 02 421 87 75
Copyright © 2020 awex, All rights reserved