Page 204 - China

Oil steadies as China moves to support economy, tropical storm in focus

China halved stamp duty on stock trading in its latest attempt to boost struggling markets. The market is also keeping an eye on Tropical Storm Idalia and any risk it poses to oil and gas output

Markets show China needs stimulus 'bazooka' to bring back investors

The price action illustrated once again how China's efforts to boost its markets are struggling in the face of economic worries

Apple, Tesla links mean China can't pressure business: Foxconn's Terry Gou

If China were to confiscate assets of Hon Hai Precision Industry Co., it would hurt the interests of major global pension funds, and "no foreign investor will dare to invest," he said

Global air tickets face potential price hikes as Chinese return to skies

China's return is thought to be the final missing piece in the global air travel recovery

China halves stamp duty on stock trades to boost struggling market

Along with the finance ministry move, CSRC is rolling out measures to shore up market confidence in investing in listed companies

EFTA looking at reduction in trade barriers on pharma in pact with India

Four-nation bloc EFTA is looking at significant reduction in trade barriers on sectors such as machine tools, advanced chemicals, pharma, chocolates, Norwegian and Icelandic fish in the proposed free trade agreement with India, a Swiss minister said. Swiss State Secretary for Economic Affairs Helene Budliger Artieda also said that with India, the EFTA grouping is aiming for an ambitious and comprehensive agreement in trade in goods, services and protection of intellectual property rights (IPRs). India and European Free Trade Association (EFTA) states Iceland, Liechtenstein, Norway, and Switzerland - are negotiating a Trade and Economic Partnership Agreement (TEPA) with a view to boosting economic ties between the two regions. Negotiations on the agreement were officially launched in January 2008. 13 rounds of negotiations were held until autumn 2013 before the talks were put on hold. After talks were resumed in October 2016, a number of rounds have taken place. Regarding trade in

Stronger ties with India can help US declare freedom from China: Ramaswamy

A stronger relationship with India would help the US declare its "independence" from China, Indian-American Republican presidential candidate Vivek Ramaswamy believes and has called for stronger strategic ties with New Delhi, including a military relationship in the Andaman Sea. At 38, Ramaswamy is the youngest Republican presidential candidate ever. He is currently on a two-day swing to the crucial State of Iowa. On January 15, Iowa would kick off the 2024 Republican presidential primary season. A stronger US-India relationship could help the US declare independence from China. The US is economically dependent on China today, but with a stronger relationship with India, it becomes easier to declare independence from that Chinese relationship, Ramaswamy told PTI in an interview. A second-generation Indian-American, Ramaswamy founded Roivant Sciences in 2014 and led the largest biotech IPOs of 2015 and 2016, eventually culminating in successful clinical trials in multiple disease are

China's travel rebound risks supercharging of jet fuel prices: Report

China's return is thought to be the final missing piece in the global air travel recovery.

China sends aircraft toward Taiwan days after US approves $500 mn arms sale

Taiwan's defence ministry said Saturday that China sent dozens of aircraft and vessels toward the island, just days after the United States approved a USD 500-million arms sale to Taiwan. The defence ministry said in a statement that 32 aircraft from the People's Liberation Army and nine vessels from the navy were detected in the 24 hours between 6 am Friday and 6 am Saturday. Of these, 20 aircraft either crossed the median line of the Taiwan Strait or breached Taiwan's air defense identification zone. In response, Taiwan tasked its own aircraft, vessels and missile systems to respond to the activities, the defense military said. China sees self-ruled Taiwan as a renegade province to be taken by force if necessary. In the past year, Beijing has stepped up military drills around the island in reaction to Taiwan's political activities. The Chinese military launched drills around Taiwan last week as a stern warning after Taiwan's vice president stopped over in the US while on an offici

Public outrage mounts across China over Japan's nuclear wastewater

Tokyo's move prompted swift retaliation from Chinese authorities, who banned all Japanese seafood imports starting Thursday

India, China offer different views on Modi-Xi conversation in Johannesburg

India and China on Friday offered divergent views to characterise the conversation between Prime Minister Narendra Modi and President Xi Jinping in Johannesburg two days ago even as Beijing sought to downplay the eastern Ladakh border standoff saying the boundary question does not represent the "entirety" of the bilateral relations. In a readout on the conversation between the two leaders, the Chinese foreign ministry said President Xi Jinping conveyed to PM Modi that both sides should "bear in mind" the "overall interests" of the ties and "properly" handle the border issue. Hours after Beijing's statement on Modi-Xi conversation claimed it was held at the Indian side's request, Indian sources said there was a "pending request" from the Chinese side for a bilateral meeting, suggesting that New Delhi has not heeded to it. "The two leaders, however, had an informal conversation in the leaders' lounge during the BRICS summit," one of the sources said. Modi and Xi held the conversation

India's heart with US rather than China-led trade pact RCEP: Piyush Goyal

At a session with Chinese and US trade ministers, Union Minister Piyush Goyal on Friday said India did not join China-led RCEP as its trade deficit would have widened and New Delhi's "heart" is with Washington, hinting at the trade surplus with the US. The Commerce and Industry Minister's remarks at the B20 summit in the national capital while moderating the 'Trade Ministers' Session' where Wang Shouwen, Vice Minister in the Ministry of Commerce of China and US Trade Representative Catherine Tie were present. Goyal asked Wang if Beijing regretted that India chose not to join the Regional Comprehensive Economic Partnership (RCEP). To this, Wang said China and India's trade relationship has been growing very fast and last year, the bilateral trade reached USD 130 billion. "If there had been an FTA agreement between China and India, either bilaterally or in RCEP context, the trade potential (that) exists between our two countries will be much further tapped in to the benefit of our tw

Nearly 2 mn excess deaths followed China's sudden end of Covid curbs

China's decision last December to end the three-year zero-Covid policy, which included mass-testing and stringent and persistent quarantine lockdowns

Would rather play India story than talk about developments in China: FM

Finance Minister Nirmala Sitharaman on Friday said she would "rather play the India story" rather than talk about developments in China which is witnessing an economic slowdown. She made the remarks at the B20 Summit in the national capital while responding to a question on the impact of slowdown in China on India and the rest of the world. Acknowledging that developments in China is a matter of concern for all, she said "I would rather play the India story". "While I'll keep a watch on the developments happening in China, I am more focused on India's moment, on the opportunities that exist in India, the skills, and the work culture where the young are revving to go forward and prove themselves. So, we should speak for India's strengths and not for the suffering of somebody else," the minister said. The B20 Summit is being organised ahead of the G20 Summit next month. "I am presenting India for the strength it has now. Particularly with the young population, which is a skilled Eng

Why is PM Modi running behind Chinese prez for talks: AIMIM's Owaisi

AIMIM president and Hyderabad MP Asaduddin Owaisi on Friday attacked the BJP saying the ruling party should answer why PM Narendra Modi is "running behind the Chinese president for talks". He said there should be a special session of parliament to discuss, among others, the alleged loss of land on India's border with China. "It was leaked that China wanted to talk. Officially, MEA should have given a statement after the talks of PM Modi and XI Jinping that these talks were held. Chinese Foreign Ministry says that PM wanted to have talks. Later, foreign secretary says something else," he told reporters here. He said he would like to ask the BJP as to why the PM is "running behind Chinese president for talks". "Why is the PM keeping the country in the dark on what is happening on Ladakh border?," Owaisi asked. "What is the reason why the Modi government is putting pressure on our brave military that some solution be accepted," he further asked. Saying that our brave military has be

Taiwan vice prez accuses China of using trade curbs to influence elections

Taiwan's vice president and frontrunner in the presidential elections has accused China of using unfair trade practices to influence the elections. William Lai, in a meeting Friday with foreign press in Taipei, said China has targeted Taiwan's agricultural products potentially in an effort to undermine the coming elections. His comments come after China on Monday announced it would suspend mango imports from Taiwan after import authorities detected pests on the fruit. The trade curb is largely believed to be politically motivated. Taiwan is due to hold presidential elections in January 2024. Over the weekend, Beijing launched war games around Taiwan, a self-ruled democracy that China claims as its own. China and Taiwan split in 1949 following a civil war that ended with the ruling Communist Party taking control over the mainland. Beijing has never renounced the use of force as a means of retaking Taiwan. China's political leadership sees Lai and Taiwan's incumbent president, Tsai

Chinese navy is testing the most powerful coil gun ever built: Details

Coil guns, also known as magnetic accelerators, could bring massive changes to the way wars are fought, paving the way for more devastating attacks on enemy targets

China bans seafood from Japan after Fukushima plant releases wastewater

Chinese customs authorities banned seafood from Japan in response to the tsunami-wrecked Fukushima Daiichi nuclear power plant starting its wastewater release Thursday, customs authorities said in an announcement. The ban starts immediately and will affect all imports of aquatic products including seafood, according to the notice. Authorities said they will dynamically adjust relevant regulatory measures as appropriate to prevent the risks of nuclear-contaminated water discharge to the health and food safety of our country.

Peaceful border essential for normalisation of India-China ties: Modi to Xi

Prime Minister Narendra Modi conveyed to Chinese President Xi Jinping India's concerns on the "unresolved" issues along Line of Actual Control (LAC) in eastern Ladakh during a conversation on the sidelines of the BRICS summit, Foreign Secretary Vinay Kwatra said on Thursday. The prime minister underlined that maintenance of peace and tranquillity in border areas and observing and respecting the LAC are essential for normalisation of India-China relations, he said at a media briefing. In this regard, the two leaders agreed to direct their relevant officials to intensify efforts at expeditious disengagement and deescalation, the foreign secretary added. Kwatra said Modi had conversations with BRICS leaders on the sidelines of the summit of the grouping in Johannesburg. The ties between India and China came under severe strain following the eastern Ladakh border standoff that began in May, 2020. The Indian and Chinese troops are locked in the standoff in certain friction points in ..

Brics calls for nations to work together on post pandemic economic recovery

BRICS leaders on Thursday urged the international community to support countries working towards post pandemic economic recovery and address the high debt levels in some nations. At the end of the BRICS Summit in South African capital, the grouping released the Johannesburg II Declaration that stressed on G20 -- a larger grouping of world's biggest economies -- playing the role of the premier multilateral forum to seek solutions to global challenges. The leaders stressed on the importance of encouraging the use of local currencies in international trade and financial transactions, and sought strengthening of correspondent banking networks between the BRICS countries and enabling settlements in the local currencies. They tasked finance ministers and central bank governors to consider the issue of local currencies, payment instruments and platforms. "We recognise the important role of BRICS countries working together to deal with risks and challenges to the world economy in achievin