Page 214 - China

UK signs pact to join Pacific trade deal, focus now turns to China

Formerly known as the TPP, the agreement at one time included the US and was seen as a way of containing China's growing influence in the Asia Pacific

India, China should find a mutual solution to resolve border issue: Wang Yi

Top Chinese diplomat Wang Yi in his meeting with External Affairs Minister S Jaishankar in Jakarta has said that both countries should find a mutually acceptable solution to the border problem without letting "specific issues" define the overall relationship. India has been locked in a military standoff with China at eastern Ladakh for more than three years, with Jaishankar saying it to be the most complex challenge in his long diplomatic career. Jaishankar has also made it very clear to China that until there is peace and tranquillity in border areas, the relationship between the two countries cannot progress. Wang and Jaishankar met on the sidelines of the ASEAN Regional Forum (ARF) Ministerial Meeting in Jakarta, Indonesia, on Friday. Wang, a former Chinese foreign minister, attended the ASEAN meetings in Jakarta as the incumbent foreign minister Qin Gang is unwell. During the meeting, Wang said that he hopes that the Indian side will meet China halfway and find a solution to th

China increases Afghanistan investment but faces terrorism challenges

China's Ministry of Foreign Affairs position paper on Afghanistan stated that China would "do its best" to support Afghanistan's reconstruction and development

Pakistan PM launches $3.5 bn Chinese-designed nuclear energy project

Pakistan Prime Minister Shehbaz Sharif on Friday launched the 1200-megawatt nuclear power plant being built with China's assistance in Punjab province which is seen as a sign of growing strategic cooperation between the two all-weather allies. Earlier, Prime Minister Sharif had inked an agreement with China worth a whopping USD 3.5 billion under which Beijing would build the Chashma-V nuclear plant at Chashma in the Mianwali district of Punjab. He had termed the nuclear power plant agreement signing as a token of increasing economic cooperation between Pakistan and China and vowed to complete the project without any delay. The Chashma-5 nuclear energy project, which is by itself a huge milestone, a huge success story and a wonderful symbol of cooperation between two great friends," Sharif said. This mutual cooperation to promote clean, efficient and comparatively cheaper energy is a gift of friendship between the two countries and a model for other countries to emulate," he said.

Back to the new-old: West wind, East wind, or the warnings of a storm?

India has been well and truly bitten by the big-country bug, and is committed once more to import substitution-on-crutches, writes T N Ninan

China's BYD proposes $1 bn India plan to build EVs, batteries: Reports

The longer-term plan is to build a full line-up of BYD-brand electric cars in India from hatchbacks to luxury models, one of the three people said

Prices of Chinese gallium steady after rush to beat export curbs eases

Inquiries from foreign buyers have dissipated, researcher Shanghai Metals Market said, citing market participants. Risks rising as shipments may not able to leave before curbs kick in next month

India to reject call for anti-subsidy tax on some Chinese steel products

As per World Trade Organisation rules, a member country is allowed to impose an anti-subsidy duty if a product is subsidised by the government of its trading partner

India-China trade witnesses first signs of slowdown in years: Report

The India-China trade, which in recent years rose sharply despite bilateral tensions over the border dispute, showed the first signs of a slowdown in years falling by 0.9 per cent in the first half of this year. This came as China's overall foreign trade declined by about five per cent as its economy struggled to recover from COVID blues. China's exports to India in the first half of this year totalled USD 56.53 billion compared to USD 57.51 billion last year registering a decline of 0.9 per cent, according to the data released by Chinese customs on Thursday. India's exports to China during the same period totalled USD 9.49 billion compared to USD 9.57 billion last year. The trade deficit in the first half of 2023 too declined significantly to USD 47.04 compared to USD 67.08 billion last year. Last year was a bumper year for India-China trade as it touched an all-time high of USD 135.98 billion despite the continued chill in the bilateral ties over the military standoff in eastern

OPEC upbeat over 2024 global oil demand outlook despite headwinds

The report also showed OPEC's oil production rose by 91,000 bpd to 28.19 million bpd in June, led by Iran and Iraq, despite output cuts pledged by OPEC+

China, ASEAN to try to conclude nonaggression pact on sea feud in 3 years

China and Southeast Asian nations agreed Thursday to try and conclude within three years a long-delayed nonaggression pact aimed at preventing the frequent territorial spats in the busy South China Sea from turning into a major armed conflict. China and the Association of Southeast Asian Nations agreed Thursday during a meeting between the 10-nation bloc's foreign ministers and China's top diplomat Wang Yi in the Indonesian capital of Jakarta to guidelines to complete their code of conduct negotiations before fall 2026, a Southeast Asian diplomat involved in the meetings told The Associated Press. The diplomat spoke on condition of anonymity due to a lack of authority to discuss the issue publicly ahead of the official announcement of the agreement. China and four of ASEAN's member states Brunei, Malaysia, the Philippines and Vietnam along with Taiwan have been locked in a decades-long territorial standoff in the disputed waterway, a key passageway for global trade that is believe

China's exports dip 12.4% in June as global demand weakened amid rate hikes

China's exports tumbled 12.4 per cent in June from a year earlier as demand weakened after central banks raised interest rates to curb inflation. Customs data released Thursday showed imports slid 6.8 per cent. Trade weakness adds to downward pressure on the world's second-largest economy. Global consumer demand has weakened after the Federal Reserve and central banks in Europe and Asia raised interest rates to bring inflation down from near multi-decade highs by reining in business and consumer activity. In January-June, China's total trade including imports and exports fell nearly 5 per cent from a year earlier. Exports slipped 3.2 per cent and imports declined 6.7 per cent as prices of commodities like oil fell and demand inside China also faltered. Trade also has been dampened by tensions with Washington and restrictions on access to US processor chips and other technology in a feud with Beijing over security and Chinese industrial policy. Chinese factories assemble most of the

China's $400 billion pension sends new warning over its debt risks

The recent Sino-Ocean Group Holding Ltd.'s debt rout raised the pension fund's concerns as one of its biggest asset managers holds a large position in the state-backed developer's bonds

With Zhuque-2, China blasts off world's first methane-powered rocket

The successful launch of LandSpace's Zhuque-2 puts China ahead of rivals such as Elon Musk's SpaceX and Jeff Bezos' Blue Origin

China-based hackers breached govt agencies, individual accounts: Microsoft

China called a Microsoft report that a China-based hacking group breached government-linked email accounts disinformation, saying Wednesday that the accusation was meant to divert attention from US cyber activities. In a blog post published Tuesday, Microsoft said the group, which it identified as Storm-0558, gained access to email accounts linked to 25 organisations, including Western European government agencies. The breach was detected weeks later when customers complained to Microsoft about abnormal mail activity. We assess this adversary is focused on espionage, such as gaining access to email systems for intelligence collection, Charlie Bell, Microsoft's executive vice president of security, said in a separate Microsoft post. A Washington Post report cited a statement from US officials claiming Storm-0558 also breached unclassified email accounts linked to the US government. A Chinese foreign ministry spokesman, Wang Wenbin, said the accusation was disinformation aimed at ..

China-based hackers breached Western Europe govt email accounts: Microsoft

A China-based hacking group has breached email accounts linked to government agencies in Western Europe, Microsoft Corp. says. In a blog post published Tuesday, Microsoft said the group, which it identified as Storm-0558, focuses on acts such as espionage and data theft. The group gained access to email accounts affecting about 25 organisations including government agencies and to accounts of individuals linked to these organisations, and had gone undetected for about a month until customers complained to Microsoft about abnormal mail activity. We assess this adversary is focused on espionage, such as gaining access to email systems for intelligence collection, Charlie Bell, Microsoft's executive vice president of security, said in a separate Microsoft post. The hackers carried out the breach by forging authentication tokens a piece of information used to verify the identity of a user required to access the email accounts. Microsoft has since dealt with the attack and informed ..

China sends large group of warplanes towards Taiwan in forceful display

China sent navy ships and a large group of warplanes, including fighter jets and bombers, toward Taiwan over two days, the island's defense ministry said on Wednesday, before its annual military exercises aimed at defending itself against a possible invasion. The Chinese People's Liberation Army sent 38 warplanes and 9 navy vessels around Taiwan, between 6 a.m. Tuesday to 6 a.m. Wednesday. From Wednesday morning until noon time, the military flew another 30 planes, among which included J-10 and J-16 fighters. Of these, 32 crossed the midline of the Taiwan Strait, an unofficial boundary that had been considered a buffer between the island and mainland. Later on Wednesday, another 23 planes crossed the midline. Taiwan is scheduled to hold the annual Han Guang exercise later this month, in which its military will hold combat readiness drills against preventing an invasion. It will also conduct the annual Wan'an exercises aimed at preparing civilians for natural disasters and practicing

Bulgari faces backlash from China for not showing Taiwan as part of country

Bulgari said in a Chinese-language statement posted to its Weibo account Tuesday evening that it respected 'China's sovereignty and territorial integrity, as always, and firmly'

India, US should work together to challenge China's aggression: Congressman

'I have a lot of respect for India and tremendous accomplishment India has done India and United States need to work strongly together to challenge the aggression from China,' Thanedar said

China's auto sales rise 8.8% in first half of 2023, but growth is fading

China's auto sales rose 8.8 per cent over a year earlier in the first half of 2023 as electric vehicle purchases surged, but growth is fading as an economic rebound following the end of anti-virus controls cools, an industry group reported Tuesday. Sales of SUVs, sedans and minivans rose to 11.3 million, decelerating from 2022's 9.5 per cent growth, according to the China Association of Automobile Manufacturers. Total vehicle sales including trucks and buses rose 9.8 per cent to 13.2 million. CAAC earlier forecast this year's annual sales growth might fall to as low as 3 per cent. Global automakers look to China to propel sales growth as US and European demand flattens and are pouring billions of dollars into developing electrics to meet government sales quotas. They face growing competition from Chinese brands that are developing rapidly, taking market share and starting to compete with global majors in their home markets by exporting to Europe and Japan. China's economic growth