Page 157 - China

US assessing expansion of chip export to counter China's military expansion

The United States is constantly assessing the need to expand export controls to stop China from acquiring advanced computer chips and manufacturing equipment that could be used to boost its military, US Commerce Secretary Gina Raimondo said Monday. The US export controls were first launched in 2022 to counter the use of chips for military applications that include the development of hypersonic missiles and artificial intelligence. Last year, the US Commerce Department broadened the export controls, sparking protests from China's Commerce Ministry that the restrictions violated international trade rules and seriously threaten the stability of industrial supply chains". China said it would take all necessary measures to safeguard its rights and interests and urged Washington to lift the export control as soon as possible. Asked if the US was planning to further broaden the chip export controls to China, Raimondo said in a news conference in the Philippine capital Manila that it was .

China passes law granting Communist Party more control over cabinet

The amended State Council Organic Law passed by 2,883 delegate votes, with eight opposing and nine abstaining, during the closing day of the National People's Congress in Beijing

SJM hails India for blocking China-led investment facilitation pact at WTO

The Swadeshi Jagran Manch on Monday hailed India's success in blocking a China-led investment facilitation pact in the recently concluded WTO ministerial meeting in Abu Dhabi and said it was a "very significant" move for global peace. Addressing a meeting organised here to discuss the outcomes of the WTO ministerial meet which concluded on March 1, Swadeshi Jagran Manch (SJM) co-convenor Ashwani Mahajan said China, joined by more than 120 countries, had tried to push the Investment Facilitation for Development Agreement (IFDA) as a plurilateral agreement at the meet. "China's proposal was presented as if it was going to bring a big revolution in the world. But, its entire efforts to push the addition of IFDA at the 13th WTO ministerial meet collapsed like a pack of cards after India and South Africa took a firm stand against it," Mahajan said. "It was a very significant step for world peace and India should be seen as a saviour for the way it was blocked," he added. Mahajan said th

China's Congress wraps session with unity behind Xi's vision for nation

China's national congress is wrapping up its annual session Monday with the usual show of near-unanimous support for plans designed to carry out ruling Communist Party leader Xi Jinping's vision for the nation. This year's weeklong event, replete with meetings carefully scripted to allow no surprises, has highlighted how China's politics have become ever more calibrated to elevate Xi. Monday's agenda is lacking the usual closing news conference by the premier, who in the past was responsible for economic affairs as the party's No. 2 leader the one time each year when journalists could directly question a top leader. The annual news conferences have been held most years since 1988, and the decision to scrap the event emphasizes Li Qiang 's relatively weak status. Past premiers have played a much larger role in leading key economic policies such as modernizing state enterprises, coping with economic crises and leading housing reforms that transformed China into a nation of ...

Best of BS Opinion: Investing in AI, China's ambitious targets & more

Here is the best of Business Standard's opinion pieces for today

China's ambitious targets

Growth and inflation likely to undershoot

China's consumer prices up first time in 6 months on Lunar New Year gains

The consumer price index (CPI) climbed 0.7% year-on-year in February, data from the National Bureau of Statistics (NBS) showed on Saturday

China says it will improve real estate sales in 'forceful', 'orderly' way

Some developers should be allowed to go bankrupt or restructured according to legal and market-based rules, Ni said told press conference on sidelines of the annual meeting of parliament in Beijing

China vows to 'safeguard' national security with new laws at conclave

China last month broadened its state secrets law to include 'work secrets' in the scope of restricted sensitive information, and enacted a controversial counter-espionage law last year

Global South believes in India; China does not care about them: Jaishankar

Highlighting India's leadership among the Global South, External Affairs Minister S Jaishankar on Friday said the 125 countries of the platform placed their trust in India and that China skipped the two meetings convened by India last year to listen to their concerns. Addressing the Nikkei Forum on the India-Japan partnership here, India's top diplomat said that countries of the Global South feel for each other on a number of issues. "On a lot of issues, these countries feel for each other. The feeling has been intensified by COVID because many countries of the Global South felt that they were the last in the line to get the vaccine. They even felt at the time when India became G20 President that their concerns were not even on the agenda of the G20. "So we did last year two meetings of the voice of the Global South because we wanted to listen to these 125 countries and then put before the G20 a set of issues which were the collective views of these 125 countries. Within Asia and .

Hong Kong publishes new national security law bill, raising rights concerns

The bill includes sentences of up to life imprisonment for treason, 20 years for espionage and 10 years for offences linked to state secrets and sedition

Xi calls for coordination of military, preparation for conflicts at sea

He said, it was necessary to build cyberspace defence system and improve the ability to maintain national network security

US devising tactics to suppress us despite improvement in relations: China

China's foreign minister accused the US on Thursday of devising tactics to suppress China's rise and criticised the Biden administration for adding more Chinese companies to its sanctions lists. Wang Yi, speaking to media during the annual meeting of China's legislature, said that relations with the US have improved since Presidents Xi Jinping and Joe Biden met in November, but that America has not fulfilled its promises. If the US always says one thing and does another, where is its credibility as a major power? If the US gets nervous and anxious when it hears the word 'China,' where is its confidence as a major power? he said. If the US is obsessed with suppressing China, it will eventually harm itself." Wang, a 70-year-old veteran diplomat who has earned Xi's trust, returned to the foreign minister's post last summer after his successor, Qin Gang, was abruptly dismissed without explanation after a half year on the job. Analysts had speculated the ruling Communist Party might use

China flexes its might against the Philippines in disputed waters

It was a heart-pounding moment far out in the disputed South China Sea: One of at least five Chinese coast guard ships aggressively approached and sideswiped a Philippine patrol vessel, creating a loud, jarring noise that sent its Filipino crew scrambling to lower rubber fenders to cushion the boat's hull. As the high-seas faceoff unfolded on Tuesday, two Chinese coast guard ships used water cannons against a smaller supply boat carrying a Filipino admiral and his sailors. The high-pressure spray shattered the boat's windshield and mildly injured the admiral and four sailors with glass shards and splinters of debris. "That's very concerning and very worrisome, Vice Adm. Alberto Carlos later told reporters, after witnessing firsthand the Chinese actions against the supply boat Unaizah Mae 4, which he was aboard. As the highest-ranking Filipino military commander overseeing the disputed waters, Carlos joined the trip to ensure that any confrontation would not spiral out of control, th

Carlyle, CVC, KKR show interest in potential takeover of Samsonite

The investment funds may consider teaming up and forming a consortium if Samsonite decides to move forward with a plan to go private, in that case, more bidders could emerge

Not observing written pacts raises question on intentions: EAM on China

There is the reality of very big power shifts in Indo-Pacific, Jaishankar said while addressing the Raisina Roundtable organised by the Observer Research Foundation (ORF) in Tokyo

China has stepped up grey-zone warfare to exhaust Taiwan: Defence report

Taiwan Defense Ministry this week said it would increase the number of missile drills and begin night-time exercises for pilots

Maldives-China defence pact to obtain non-lethal weapons, training: Muizzu

The Maldives will get free "non-lethal" military equipment and training from China's military under a newly inked agreement with Beijing, President Mohamed Muizzu has said, underlining that it would further strengthen the Indian Ocean island nation's independence and autonomy. Muizzu also met Major General Zhang Baoqun, Deputy Director of the Office for International Military Cooperation of China, and President of the Export-Import Bank of China, Ren Shengjun separately. Earlier on Monday, the Maldives Ministry of Defence announced that a military assistance agreement has been signed by Defence Minister Mohamed Ghassan Maumoon and Major General Zhang. However, it did not reveal any additional details. This is the first time Maldives has signed a deal with China for military cooperation of this level. Previously, China had been exclusively known for its assistance towards urban and economic development of the Maldives, news portal Sun.mv said. Speaking late on Tuesday evening with .

China's exports likely slowed in Jan-Feb period as factories struggle

The head of the state economic planner said on Wednesday that China's exports for January-February rose by 10%, but did not state whether that was in yuan or dollar terms

Morgan Stanley cuts 9% of China fund unit staff amid market rout: Report

This would be the first time Morgan Stanley has cut staff at the China fund unit since it bought out its local partner's 36% stake in the loss-making business for about $54 million in 2023