Page 164 - China

Ready to 'break new ground' to solidify ties with France, says Xi

Chinese President Xi Jinping has offered to "break new ground" to give a fillip to the China-France ties, days after French President Emmanuel Macron's high-profile visit to India during which the two countries unveiled an ambitious defence roadmap besides intensifying cooperation in the strategic Indian Ocean and the Indo-Pacific region. Macron's visit to India also coincided with the 60th anniversary of diplomatic relations between China and France. In his message on the occasion, Xi said As today's world is once again at a critical crossroads, China and France should jointly open up a path of peace, security, prosperity and progress for human development. Xi said China attaches great importance to the development of bilateral ties and he stands ready to work with Macron to take the 60th anniversary of diplomatic relations as an "opportunity to uphold fundamental principles, break new ground, build on past achievements, open up a new future, and make China-France comprehensive ...

US to announce billions in subsidies for advanced chips, says report

Among the likely recipients of the subsidies, Intel has projects underway in Arizona, Ohio, New Mexico, and Oregon that will cost more than $43.5 billion, the paper said

Nepal, China to sign implementation plan of BRI projects: Nepal's Deputy PM

Nepal and China will sign the implementation plan of the Belt and Road Initiative very soon, Deputy Prime Minister Narayan Kaji Shrestha said on Saturday, nearly seven years after the two neighbours inked an agreement to undertake ambitious Beijing-backed infrastructure projects in the Himalayan nation. Once we sign the implementation plan, we will move into the implementation phase, Shrestha, also the Minister for Home Affairs said while addressing an event here that is part of the Silk Road Youth Forum and South Asian Cooperation Conference. He said the two countries will sign the implementation plan of the Belt and Road Initiative (BRI) very soon without specifying any date. His statement came as Sun Haiyan, a senior leader of China's ruling Communist Party, was visiting Nepal and meeting the country's top leaders. The signing of the BRI implementation plan is the key to negotiate and execute the projects under the initiative. Nepal and China signed a Memorandum of Understandin

China accuses US of 'exaggerating threat in space' to boost forces

Wang Wenbin's remarks came after the US Space Force released an assessment report, which claimed that Russia and China are designing and testing counter-space weapons

Cash-strapped Pakistan seeks $2 billion loan from close ally China

Cash-strapped Pakistan has sought financial assistance of USD 2 billion from its close ally China for a year, according to a media report on Saturday. Caretaker Prime Minister Anwaarul Haq Kakar, in a letter, has requested his Chinese Premier Li Qiang to roll over the debt as soon as the deposit time for the loan from China is completed on March 23. In his letter, Kakar expressed gratitude to China for its financial assistance to Pakistan during its economic crisis as the cash-strapped country has secured a safe deposit of a total of USD 4 billion in loans from China, reducing the country's mounting pressure on external debt payments and stabilising its foreign exchange reserves, The Express Tribune newspaper reported. Earlier this month, the UAE rolled over Pakistan's maturing loan of USD 2 billion. Apart from the UAE, Saudi Arabia has deposited USD 5 billion with the State Bank of Pakistan. Following the loan rollover by the UAE, the interim government requested the Internationa

China presses Iran to rein in Houthi attacks in Red Sea, says report

Freight through Suez Canal down 45% since Houthi attacks

Moody's downgrades ratings of 17 Chinese local govt financing vehicles

It left the ratings of nine other Chinese LGFVs unchanged but cut their outlooks to negative too due to the same pressures.

China permits Boeing to deliver 737 MAX 8 to local customers: Report

Boeing on Wednesday delivered its first 737 MAX to a Chinese airline since March 2019 - a 737 MAX 8 registered to China Southern Airlines which is currently on the ground in Hawaii on its way from US

China officials cut costs as Xi says 'belt-tightening rules here to stay'

The term xiguan is "foreseeing that the financial situation is unlikely to fundamentally improve for a considerable period in the future," said Lu Xi

Remaining landslide victims found in China, bringing death toll to 44

The bodies of the remaining victims of a landslide in southwestern China were recovered Thursday, bringing the death toll to 44 after four days of searching through the rubble of dirt and crumbled homes, state media said. The final body was found in the evening, according to state broadcaster CCTV, which posted photos of excavators and teams of searchers in orange uniforms and helmets, part of a contingent of more than 1,000 rescuers. The landslide slammed into houses at the foot of a slope early Monday morning in Liangshui, a village in a remote and mountainous part of Yunnan province. It left a barren swath on the slope after hitting the village, which sits between snow-covered, terraced fields. Two survivors were found on Monday. A preliminary investigation found that the landslide had been triggered by the collapse of a steep clifftop area, the official Xinhua News Agency reported. It did not elaborate on the cause of the initial collapse. Rescuers struggled with snow, icy roa

Boundary dispute with India 'legacy issue', not whole picture: China

China's military on Thursday said the boundary dispute with India is a "legacy issue" and it is "unwise" to link the border issue with the overall relations as it does not represent the whole picture of the bilateral relations. Chinese Ministry of National Defence spokesperson Senior Colonel Wu Qian made the remarks at a media briefing here in response to a question on External Affairs Minister S Jaishankar's reported statement that China violated the bilateral consensus in 2020 and assembled a large number of military forces along the Line of Actual Control (LAC), resulting in the conflict in the Galwan Valley. The India-China relations remained frozen since May 2020 when the People's Liberation Army (PLA) amassed troops in eastern Ladakh that led to a deadly clash between the two militaries at the Galwan Valley in June 2020, resulting in the deaths of 20 Indian soldiers and at least four Chinese military personnel. Wu repeated Beijing's claim that the Galwan Valley lies on the ...

Another quake of 5.2 magnitude hits northwest China's Xinjiang province

A 5.2-magnitude earthquake jolted the Kirgiz autonomous prefecture of Kizilsu in northwest China's Xinjiang Uygur autonomous region on Thursday, the second to hit the remote region in three days. The quake in Aheqi County jolted the region at 6:21 a.m., according to the China Earthquake Networks Centre (CENC). The quake, with an epicentre at a depth of 15 km, was the second to hit the province in the past three days, it said. Further details are awaited. Three people were killed and five others injured when a 7.1-magnitude earthquake jolted Wushi county and its surrounding areas in Aksu prefecture of the Xinjiang Uygur autonomous region on Tuesday.

iPhone takes top spot in China for first time in 2023 despite challenges

The iPhone ranked first in shipments in the fourth quarter and 2023 overall, market tracker IDC said

Boeing delivers 737 Max aircraft to China, ending five-year drought

A China Southern Airlines Co. Max took off from Boeing Field in Seattle Wednesday at 11:55 a.m. local time bound for Honolulu, according to tracking service FlightRadar24

Canada officially adds India to probe of election meddling amid tensions

The inquiry's commissioner is tasked with examining potential interference by China, Russia and other state and non-state actors during the 2019 and 2021 elections

China boosts stimulus by cutting reserve requirement ratio for banks

Hours after the announcement, regulators added more measures to bolster the slumping property and stock markets

German companies in China say economy is on 'downward trajectory'

The survey results underscore concern about China's economic recovery, which is being hampered by a property crisis and stubborn deflation

Tesla plans to build new EVs in mid-2025, to compete with cheaper gas cars

Those models, including an entry-level $25,000 car, would allow it to compete with cheaper gasoline-powered cars and a growing number of inexpensive EVs, such as those made by China's BYD

Crude oil rises towards $80 as China announces economic stimulus package

The front-month March contract for Brent crude was up 40 cents to $79.95 a barrel at 1410 GMT. U.S. West Texas Intermediate crude was up 57 cents to $74.94 a barrel

China cuts bank reserve needs, boost property lending to support economy

China's central bank said Wednesday it will cut the ratio of reserves banks must hold as part of a slew of measures to support the slowing economy. The announcement by the People's Bank of China prompted a surge in share prices, with Hong Kong's benchmark jumping 3.6%. Chinese stock markets have languished in recent months as investors pulled money out, discouraged by a faltering recovery from the shocks of the COVID-19 pandemic. A sell-off earlier in the week was followed by unconfirmed reports that the government planned to get state-owned investment companies to funnel offshore funds into the markets to help staunch the losses. The central bank's moves appear to be part of a concerted effort to stabilize the markets and instill greater confidence in the outlook for the world's second-largest economy. Central bank Gov. Pan Gongsheng said the deposit reserve requirement would be cut by 0.5 percentage points as of Feb 5. Pan said that would inject about 1 trillion yuan (USD 141 ...