Page 211 - China

India second country after China to burn one billion tonnes of coal: IEA

In 2023, China and India will account for 70 per cent of global coal consumption, or double the amount of coal burnt in the rest of the world combined

Bolivia is latest South American nation to use China's yuan for trade

Bolivia is now using the yuan to pay for imports and exports, becoming the latest country in South America to regularly use the Chinese currency in a small but growing challenge to the hegemony of the U.S. dollar for international financial transactions in the region. Between May and July of this year, Bolivia conducted financial operations amounting to 278 million Chinese yuan ($38.7 million), which accounts for 10% of its foreign trade during that period, Economy Minister Marcelo Montenegro said on Thursday. We're already using the yuan. It's a reality and a good start, Montenegro said during a news conference. Banana, zinc, and wood manufacturing exporters are conducting transactions in yuan, as well as importers of vehicles and capital goods. These electronic transactions are carried out through the state-owned Banco Unin. The amount being used in yuan is still relatively small, but it will increase over time, Montenegro said. With these transactions, Bolivia joins other countr

China is no longer saving Southeast Asia's tourism industry. India might

China was once the world's most plentiful source of international tourists, and Southeast Asia was among their top destinations

North Korea's Kim shares center stage with Russian, Chinese delegates

North Korean leader Kim Jong Un shared center stage with senior delegates from Russia and China as he rolled out his most powerful, nuclear-capable missiles in a military parade in the capital, Pyongyang, marking a major war anniversary with a show of defiance against the United States. State media said Friday Kim attended Thursday evening's parade with Russian Defense Minister Sergei Shoigu and Chinese ruling party official Li Hongzhong from a balcony looking over the city's main square. The streets and stands were packed with tens of thousands of mobilized spectators, who roared in approval as waves of goose-stepping soldiers, tanks and huge, intercontinental ballistic missiles wheeled out on launcher trucks filled up the main road. The North's official Korean Central News Agency said the parade also featured ceremonial flights of newly developed surveillance and attack drones, which were first unveiled by state media this week as they reported on an arms exhibition attended by Ki

Unacceptable, says MEA on China giving stapled visas to Arunachal players

India on Thursday described as "unacceptable" China issuing stapled visas to a few sportspersons from Arunachal Pradesh and asserted that it reserves the right to "suitably respond" to such actions. External Affairs Ministry Spokesperson Arindam Bagchi said India has lodged its "strong protest" with the Chinese side on the matter and there should be no discrimination on the basis of domicile or ethnicity in the visa regime for Indian citizens. People familiar with the matter said the visit of a 12-member team of Wushu players to China's Chengdu to compete at the World University Games was called off on Wednesday night as three players from Arunachal Pradesh in the group were given stapled visas. The decision to put on hold the team's travel was taken after the government examined the matter. "It has come to our notice that stapled visas were issued to some of our citizens representing the country in an international sporting event in China," Bagchi said. "This is unacceptable and

China providing technology, equipment to Russia, US intel report suggests

The report titled, 'Support Provided by the People's Republic of China to Russia,' said that China has become the most important trading partner of Russia after trade with Western countries plunged

Indonesian Prez Widodo arrives in China, plans talks with Chinese leader Xi

Indonesian President Joko Widodo arrived Thursday in China and planned to meet with Chinese leader Xi Jinping, a state news agency reported. Widodo was due to attend the opening of the FISU World University Games in Chengdu in southwestern China, the Xinhua News Agency said. It said the two leaders would meet but gave no details of what they might discuss. Indonesia is, along with China, a member of the Group of 20 major developed and emerging economies. Indonesia wants a bigger role as a supplier of nickel and other raw materials to China's fast-growing electric car brands.

Volkswagen takes steps to boost China biz as 1st-half earnings fall by 20%

Volkswagen saw after-tax earnings fall by 20 per cent in the first half of the year, to 8.5 billion euros (USD 9.45 billion), as the automaker tries to engineer a rebound in China. The decline from the same period last year was due in part to a 2.5 billion euro non-cash loss on raw materials hedging in financial markets. Companies use such market strategies to offset risk and insure themselves against rapid changes in the prices of raw materials. Volkswagen said operating earnings, excluding the hedging effect, rose 13 per cent to 13.9 billion. Chief Financial Officer Arno Antlitz said the company achieved solid financial results in the first six months of the year and that with changes in the China business, we will improve the competitive business of the Volkswagen Group even further. The company said its business in Western Europe was strong, given an order book of 1.65 million vehicles, including 200,000 battery-only electric cars, demonstrating stable customer demand. Volksw

Semiconductor PLI to help India do in 10 yrs what China did in 30: IT min

India is on track to becoming a key player in the global semiconductor supply chain in the next decade with USD 10 billion of incentives and assistance provided to encourage local chip manufacturing, Union minister Rajeev Chandrasekhar said on Thursday. The production-linked incentive scheme last year attracted firms like Vedanta and Taiwan's Foxconn, who promised multi-billion dollar investment in setting up units to manufacture chips, which are used in products ranging from mobile phones to cars. Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said there is "not one person in the semiconductor global ecosystem" that does not see India as "a very credible, viable and fast charging destination for semiconductor investments and innovation". He also said that India is on track for the next 10 years in the semiconductor space with USD 10 billion (about Rs 81,993 crore), compared to China's three decades of progress. "We are on track to do in the next

Consider resumption of economic ties with Pakistan: Par panel urges Centre

A parliamentary panel has asked the government to consider resumption of economic ties with Pakistan and work towards broader people-to-people contacts given the "cultural commonalities and civilisational linkages" between the two countries. The Parliamentary Standing Committee on External Affairs chaired by BJP leader P P Chaudhary, in its report on 'India's Neighbourhood First Policy' presented to the Lok Sabha on Tuesday, observed that the policy was dynamic and that it adjusts to the country's renewed interests in the region while evolving according to regional circumstances. The Committee urges the Government to consider the establishment of economic ties with Pakistan if they come forward and work towards broader people-to-people contacts in view of the cultural commonalities and civilisational linkages between our two countries and no feeling of enmity amongst citizens of both the countries, said the committee in its report. Being aware of China's Belt and Road vision and ...

Russian President Vladimir Putin plans to visit China in October: Kremlin

Russian President Vladimir Putin plans to visit China in October, a top Kremlin official announced Tuesday. Russian news agencies quoted Putin's foreign policy adviser, Yuri Ushakov, as saying the trip will be timed to coincide with a One Belt, One Road forum in China. Beijing's Belt and Road Initiative involves infrastructure projects to connect Asia with European and African countries. Ushakov said Putin also plans to travel to Turkiye at some point to fulfil a promise to Turkish President Recep Tayyip Erdogan, although the dates for that visit have not been decided yet. In addition, the Kremin received an invitation for Putin to participate in a Group of 20 summit in India in September, he said. The Russian leader's in-person attendance has not been ruled out, although the format of Putin's participation is still unclear, Ushakov said. The announcement of Putin's travel plans came days after South African officials said he had agreed to skip an economic summit in their country

China agrees to reschedule Pakistan's $2 billion debt recovery for 2 years

This is a major relief to Pakistan government which is in the process of rebuilding foreign exchange reserves through fresh loans and rolling over maturing debt

Ouster of Xi Jinping's handpicked foreign minister halts rising career

The former Chinese ambassador to the US became his nation's shortest-ever serving foreign minister on Tuesday, after China's top legislative body stripped him from the post

Gone in 7 months: China's 'missing' foreign minister removed from office

The former envoy will be replaced by his predecessor Wang Yi, state media reported

Taiwan tracks 25 Chinese military planes, 4 naval ships around country

The Chinese military aircraft and naval vessels were tracked from 6 am on Monday, July 24 to 6 am on Tuesday, July 25

NSA Doval meets top Chinese diplomat in S Africa, discusses bilateral ties

National Security Advisor Ajit Doval has met top Chinese diplomat Wang Yi and discussed bilateral ties with him. The meeting took place on the sidelines of the Friends of BRICS meeting here in South Africa on Monday. The meeting came days after External Affairs Minister S Jaishankar met Wang, director of the Office of the Foreign Affairs Commission of the Communist Party of China Central Committee, in the Indonesian capital Jakarta, and discussed outstanding issues relating to peace and tranquillity in border areas. India has been locked in a military standoff with China for more than three years, with Jaishankar describing it to be the most complex challenge in his long diplomatic career. India has maintained that the bilateral relationship cannot be normal unless there is peace in the border area. During the meeting with Doval, Wang said the two sides should enhance strategic mutual trust, focus on consensus and cooperation, overcome obstacles and bring bilateral relations back

China urges Japan not to disrupt chip industry after tech curbs take effect

China's government appealed to Japan on Monday not to disrupt the semiconductor industry after curbs on exports of Japanese chip-making technology took effect, adding to technology restrictions Washington and its allies have imposed on China on security grounds. The Japanese restrictions that took effect Sunday limit Chinese access to tools for etching microscopically small circuits on advanced chips for smartphones, artificial intelligence and other applications. The Netherlands also joined the United States in limiting access to chipmaking tools that Washington says could be used to develop weapons. We are deeply dissatisfied and regret the act, said a foreign ministry spokesperson, Mao Ning. She urged Japan to prevent relevant measures from interfering with the normal semiconductor industry cooperation between the two countries. The ruling Communist Party has invested billions of dollars in building Chinese chip foundries but needs Western and Japanese technology to produce the .

China property developers' shares, bonds dive as sector worries deepen

Doubts are growing any official support will be forthcoming, and investors do not expect any aid to be aimed at shareholders

Evergrande seeks court approval for offshore-debt restructuring plan vote

The hearing involving Evergrande and a unit is scheduled for Monday morning in Hong Kong. The world's most-indebted developer and another unit have similar hearings this week in the Cayman Islands

Alibaba to stay on sidelines of Ant Group's $6 billion stock buyback

Alibaba said in an exchange filing it won't take part in Ant's plan to buy back as much as 7.6% of its stock, which the latter's board has approved