Page 188 - China

Israeli ambassador urges China to talk with Iran, stop escalation

While Tehran is a known backer of Hamas, Iran's Supreme Leader Ali Khamenei has denied his country was involved in the strike

Sri Lanka confirms major debt deal with China for its economic recovery

The Sri Lankan government has confirmed that it has concluded a preliminary deal with China on the restructuring of its debts to Beijing, seen as a "big step" in the cash-strapped country's economic recovery. In a statement issued on Wednesday, the Ministry of Finance said The Government of the Democratic Socialist Republic of Sri Lanka is pleased to announce that it has reached an agreement on the key principles and indicative terms of a debt treatment with the Export-Import Bank of China. China holds about 52 per cent of Sri Lanka's USD 46 billion external credit. The agreement in principle covers approximately USD 4.2 billion of outstanding debt, it said adding that it constitutes a key step towards restoring Sri Lanka's long-term debt sustainability and will pave the way to a prompt economic recovery. The terms of the restructuring agreed upon will provide the space for Sri Lanka to implement its reform agenda. The government has expressed hope that it should also facilitate .

Global coal industry expected to layoff over 400,000 miners by 2035: Report

The coal industry is expected to shed more than four lakh mining jobs, equivalent to nearly 100 workers per day, by 2035, even without climate pledges or policies to phase out coal, with China and India likely to be the hardest hit, according to a new report. The primary reason will be the market shift toward cheaper wind and solar power generation and a lack of planning to manage a transition to a post-coal economy, said the report compiled by Global Energy Monitor, a US-based NGO that analyses the evolving international energy landscape. The report suggests that 9,90,200 coal-mining jobs will cease to exist at operating mines given the foreseeable closures of coal facilities, potentially laying off more than one-third (37 per cent) of the existing workforce. China and India are expected to be the hardest hit. China's Shanxi province would witness the largest number of job losses globally -- 2,41,900 by 2050 -- while Coal India is the producer facing the largest potential job cuts

China to hold third edition of Belt and Road Forum in Beijing from Oct 17

China will hold the third edition of the Belt and Road Forum here from October 17 to 18 and President Xi Jinping will attend the opening ceremony, it was announced on Wednesday. The Belt and Road Initiative (BRI) is a multi-billion-dollar initiative launched by President Xi when he came to power in 2013. It aims to link Southeast Asia, Central Asia, the Gulf region, Africa and Europe with a network of land and sea routes. Under the ambitious BRI, China provides funding for major infrastructure projects around the world, in a bid to speed Chinese goods to markets further afield. The USD 60 billion China-Pakistan Economic Corridor (CPEC) is the flagship project of the BRI. India has strongly protested to China over the CPEC as it is being laid through the Pakistan-occupied Kashmir (PoK). In July, India once again refused to endorse China's ambitious BRI, becoming the only country in the Shanghai Cooperation Organisation not to support the project. A declaration issued at the end of

India has high debt like China, but risks are moderated: IMF official

India has a high debt like that of China but the risks associated with it are not as great as that of its northern neighbour, a senior official from the International Monetary Fund has said, advising India in the medium term to have an ambitious fiscal consolidation plan that brings down deficits. "The current debt in India is also high. It stands at 81.9 per cent of GDP. Compared to China, which is 83 per cent, it is very similar. Also, when we compare India's debt to the pre-pandemic level in 2019, it was 75 per cent. So it is still quite a bit higher," Ruud de Mooij, Deputy Director, Fiscal Affairs Department at International Monetary Fund, told PTI in an interview. "What we also see in India is a deficit that is 8.8 per cent projected for 2023. In India, a large portion of this is because of expenditures on interest. They pay a lot of interest on their debt: 5.4 per cent of GDP is spent on that, and the primary deficit is 3.4 per cent. So together they add up to 8.8 per cent," he

Journalist detained in China for 3 yrs for espionage returns to Australia

A Chinese-Australian journalist who was convicted on murky espionage charges and detained in China for three years has returned to Australia, Prime Minister Anthony Albanese said Wednesday. Cheng Lei, 48, worked for the international department of China's state broadcaster CCTV. She has reunited with her two children in Melbourne, Albanese said. Her return comes ahead of Albanese's planned visit to Beijing this year on a date yet to be announced. Albanese's government has been lobbying for the release of Cheng and Yang Hengjun, another Chinese-Australian held in China since 2019. Bilateral relations have improved since Albanese's centre-left Labour Party was elected after nine years of conservative rule. Beijing has lifted several official and unofficial trade barriers on Australian exports. Albanese suggested that Cheng had recently been sentenced after she was convicted in a closed-court trial last year on national security charges. Her return brings an end to a very difficult

China saves billions of dollars from record-sanctioned oil imports

China's purchases are also a revenue lifeline for Moscow, Tehran and Caracas, whose economies are otherwise curtailed by Western sanctions and a decline in investment

Markets rebound on softer Fed tone, China stimulus; Sensex, Nifty rise 0.9%

Fed official comments, China stimulus helps markets recoup losses

How China moulds the world

It is shaping a world order where its core interests and its ideas of human rights gain widespread accepted

India in a sweet spot as rift between West, China grows: Economist

India is in a sweet spot globally given the growing rift between Western nations and China, eminent economist Kaushik Basu has said and expressed hope that the country will hold out on three pillars -- democracy, free media and secularism -- which made India special. Basu, currently a professor of economics at Cornell University, said that these three pillars are particularly needed now with all the post-Covid economic and social uncertainties that the world is going through. "Given the growing rift between Western nations and China, India is in a sweet spot, globally," Cornell University said in a statement quoting Basu. According to Basu, among the many nations that became independent in the last century, India stood out for its democracy, free media and secularism. "They provide foundations for economic growth. One hopes that the nation will have the wisdom to hold on to these political pillars which made India special," he said. A major conference on the Indian economy will be

Peace only option to resolve political differences: Taiwan Prez on Beijing

Peace between Taiwan and China is the only option, Taiwanese President Tsai Ing-wen said Tuesday, while strongly asserting the self-governing island's defences against Beijing's threats to invade. Tsai said in a National Day address that the international community views stability in the Taiwan Strait as an indispensable component of global security and prosperity. China claims Taiwan as its own territory and has been increasingly sending ships and warplanes across the Taiwan Strait in an effort to intimidate the population of 23 million, who strongly favour the status-quo of de-facto independence. Tsai's Democratic Progressive Party will seek to maintain power in elections next year against the Nationalists, who officially support unification between the sides that divided amid civil war in 1949. "Let me reiterate that peace is the only option across the Taiwan Strait," said Tsai, who will step down after two terms in office. Maintaining the status quo, as the largest common ...

Xi Jinping's reaction to Hamas attack exposes China's limits as peacemaker

After Hamas launched a shock incursion into Israel, killing hundreds, China's Foreign Ministry reiterated a call for an independent Palestinian state while making no mention of the attacks

China's Country Garden signals default, hires advisers as sales plunge

Country Garden, which has become a symbol of China's property debt crisis, said that it had not made a due payment in the amount of HK$470 million ($60 million) under certain of its indebtedness

China challenging US superpower status is 'not inevitable': Xi Jinping

Chinese President Xi Jinping on Monday told a delegation of influential American senators that the Thucydides Trap is not inevitable as he played down the concerns in Washington that China is out to challenge the superpower status of the US. Thucydides Trap is a term to describe an emerging power threatening to displace the existing great power. Competition and confrontation are not consistent with the trend of the times. Still less can it fix one's own problems and address the challenges facing the world, Xi told a US Senate delegation headed by Senate Majority Leader Chuck Schumer during a meeting. China maintains that the common interests of the two countries far outweigh their differences, and the respective success of China and the US is an opportunity, rather than a challenge, to each other, Xi told the six-member delegation of top American legislators. "The Thucydides Trap is not inevitable, and Planet Earth is vast enough to accommodate the respective development and common

DGTR reviews anti-dumping duty on alloy wheels imported from China

The commerce ministry's investigation arm DGTR has initiated a probe to review the need to continue the anti-dumping duty on aluminium alloy wheels imported from China, following complaints from the domestic industry. Kosei Minda Aluminium Company, Maxion Wheels Aluminium India, Minda Kosei Aluminium Wheel, and Steel Strips Wheels have filed an application on behalf of the domestic industry for initiation of sunset review investigation for continued imposition of anti-dumping duty levied on imports of 'aluminium alloy road wheel' exported from China. DGTR in a notification has said the applicants have submitted prima facie evidence of dumping of the product from China in spite of the existing anti-dumping duties. "The authority hereby initiates sunset review investigation to examine whether the expiry of existing anti-dumping duties against China is likely to lead to continuation or recurrence of dumping and consequent injury to the domestic industry," the notification said. As per

'Pakistan, China to invite 3rd parties to participate in CPEC projects'

Pakistan and China have agreed to invite third parties to participate in the USD 60 billion China-Pakistan Economic Corridor (CPEC) which is a key part of Beijing's ambitious Belt and Road Initiative, a top Pakistani diplomat has said. Pakistan's state-run Associated Press of Pakistan reported that the country's ambassador to China Moinul Haque told China's official CCTV on Sunday that the two countries are now working to extend CPEC to Afghanistan. India firmly opposes the CPEC, which will link Xinjiang in China and the Gwadar port in Pakistan, because it passes through Pakistan-occupied Kashmir. The CPEC, which connects Gwadar Port in Pakistan's Balochistan with China's Xinjiang province, is the flagship project of China's ambitious multi-billion-dollar Belt and Road Initiative (BRI). The BRI is seen as an attempt by China to further its influence abroad with infrastructure projects funded by Chinese investments all over the world. In his comments, the Pakistani envoy said the CP

US wants to cut Ukraine aid, boost Taiwan's. But it is tied to Kyiv's

To Rep. Mike Collins, China is a bigger threat to the United States than Russia. So the Georgia Republican has voted against providing military aid to Ukraine as he advocates for doing more to arm Taiwan, the self-governed island that's at risk of military aggression from Beijing. For Collins and other Republican lawmakers, Taiwan and Ukraine are effectively rivals for a limited pool of U.S. military assistance. But that's not necessarily how Taiwan and many of its supporters see it. They view Taiwan's fate as closely linked to that of Ukraine as it struggles to push back a Russian invasion. They say China is watching closely to see if the United States has the political stamina to support an ally in a prolonged, costly war. The U.S. aid to Ukraine also has led to weapons manufacturers stepping up production something that could benefit Taiwan in a clash with China. Ukraine's survival is Taiwan's survival. Ukraine's success is Taiwan's success, Taiwan's diplomat in the U.S., Hsiao

The NewsClick Affair: Government benefits from an anti-Chinese pantomime

The news website was already under investigation by ED for allegedly receiving Chinese funds for pro-Chinese propaganda. The recent and hurried ramp-up by the police may very likely come to nothing

Citigroup to sell China's consumer wealth business worth $3.6 bn to HSBC

The deal covers total deposits and investment AUMs of about $3.6 billion, and is expected to close in the first half of 2024. Financial details of the transaction were not disclosed

China calls on Israel, Palestine to end hostilities to protect civilians

China on Sunday called on Palestine and Israel to immediately end the hostilities, exercise restraint, and remain calm to protect civilians to avoid further deterioration of the situation. China is deeply concerned over the current escalation of tensions and violence between Palestine and Israel, and calls on relevant parties to remain calm, a Chinese Foreign Ministry spokesperson said in response to questions on the fierce conflicts between Israel and the Palestinian militant group Hamas in the Gaza Strip resulting in massive casualties on both sides. Hamas launched a wave of rocket attacks on Saturday, killing over 200 people in Israel in the biggest escalation in decades. Israel has responded with a wave of air strikes on Gaza, killing more than 230 people, according to media reports. The spokesperson said the recurrence of the conflict shows once again that the protracted standstill of the peace process cannot last. The fundamental way out of the conflict lies in implementing th