Page 245 - China

China, Japan trade accusations over infringement on maritime territory

China's dispute with Japan over tiny Japanese-controlled islands in the East China Sea is heating up again, with both sides accusing the other of infringing on their maritime territory. China says the islands belong to it and refuses to recognize Japan's claim to the uninhabited chain known as the Senkakus in Japanese and Diaoyu in Chinese. Taiwan also claims the islands, which it calls Diaoyutai, but has signed access agreements for its fishermen with Japan and does not actively take part in the dispute. China routinely sends coast guard vessels and planes into waters and airspace surrounding the islands to harass Japanese vessels in the area and force Japan to scramble jets in response. On Wednesday, a Chinese coast guard spokesperson said Chinese vessels had expelled some Japanese vessels which had illegally entered the territorial waters. The unidentified official said its moves were routine measures to safeguard sovereignty and maritime interests. Japan's coast guard on Thursd

Chip globalisation is over, and sanctions work: TSMC founder Morris Chang

In the chips sector, globalization is dead. Free trade is dead, Chang said at an event in Taipei Thursday

With Saudi deals, US, China are now battling for influence in Mideast

In a matter of days, Saudi Arabia carried out blockbuster agreements with the world's two leading powers, signing a Chinese-facilitated deal aimed at restoring diplomatic ties with its arch-nemesis Iran and announcing a massive contract to buy commercial planes from US manufacturer Boeing. The two announcements spurred speculation that the Saudis were laying their marker as a dominant economic and geopolitical force with the flexibility to play Beijing and Washington off each other. They also cast China in an unfamiliar leading role in Middle Eastern politics. And they raised questions about whether the US-Saudi relationship frosty for much of the first two years of President Joe Biden's term has reached a dtente. But as the Biden administration takes stock of the moment, officials are pushing back against the notion that the developments amount to a shift in the dynamics of the US-China competition in the Middle East. The White House scoffs at the idea that the big aircraft deal

Baidu showcases China's answer to ChatGPT to lead transformative technology

The Beijing-based company is leading a race with the likes of Alibaba Group Holding Ltd. and Tencent Holdings Ltd. to create a next-generation platform for the world's largest internet market

China's property market shows early signs of recovery after slump

The value of housing sales snapped more than a year of falls to post a small gain in the first two months of this year, while prices of second-hand homes and most new housing in major cities rose

China's post-Covid rebound gets off to unbalanced start, says CNBS

Industrial output was less impressive in the January-February period - expanding a slower-than-expected 2.4 per cent year on year

Time and money for love: China brainstorms ways to boost birth rate

China dug itself into a demographic hole largely through its one-child policy imposed between 1980 and 2015

US recognises McMahon Line as intl boundary between China, Arunachal

The United States recognises the McMahon Line as the international boundary between China and Arunachal Pradesh, according to a bipartisan Senate resolution which sees Arunachal Pradesh as an integral part of India. At a time when China continues to pose grave and gathering threats to the Free and Open Indo-Pacific, it is critical for the United States to stand shoulder-to-shoulder with our strategic partners in the region, especially India, Senator Bill Hagerty, who along with Senator Jeff Merkley introduced a resolution in the Senate, said. This bipartisan resolution expresses the Senate's support for unequivocally recognising the state of Arunachal Pradesh as an integral part of India, condemning China's military aggression to change the status quo along the Line of Actual Control, and further enhancing the US-India strategic partnership and the Quad in support of the Free and Open Indo-Pacific, he said on Tuesday. The resolution, which comes following the biggest clash between t

South Asia gets back to reality

The crises in Sri Lanka and Pakistan raise questions about the relevance and costs of reliance on the alternative financial system provided by China's Belt and Road Initiative

India adds 23 unicorns in 2022, overtakes China for 2nd consecutive year

India overtook China by adding 23 unicorns in 2022 while the neighbouring country created 11 such startups with valuation of USD 1 billion or more, according to a report released on Wednesday. For the second time in a row, India topped China creating 23 unicorns in 2022, taking the total number of such high-value companies to 96, as against China's 11 in the year, said a reporty by IVCA-Bain & Co. However, this year's number is just half of the unicorns created in 2021 when it stood at a record 44, which took the overall number to 73 in that year. According to the report, nine of the 23 unicorns added in the year have emerged from cities outside of the top 3 metros, indicating a shift to more democratic funding geographically. This means that funding to startups in non-metros grew to 18 per cent of the total inflows share. The year also many investors raising their largest ever India-focused funds, the report said, adding the SaaS (Software as a Service)-based and fintech players .

India trumps China in unicorn creation for second consecutive year in 2022

Companies grow despite shrinking funding, regulatory challenges and lay-offs

SoftBank management leadership team visits add weight to India market

Country accounts for 10% of Japanese investor's global AUM, the 3rd largest

China's chip industry poses significant threat to global security: Report

The CHIPS and Science Act signed by the Biden administration in August is a necessary industrial policy to ensure the US maintains its technological edge and protects its supply chain

4.7 magnitude earthquake hits Western China's Hotan town, says USGS

An earthquake of magnitude 4.7 on the Richter scale struck 263 km south-south-east of Hotan, China on Wednesday, the United States Geological Survey (USGS) reported.Hotan is a major oasis town in southwestern Xinjiang, an autonomous region in Western China.The earthquake occurred at 02:32:21 (UTC+05:30) and hit Hotan, China on Wednesday, at a depth of 17 km, the USGS informed.The earthquake's epicentre was 35.053°N and 81.395°E, respectively.No casualties have been reported yet.Further details awaited.

China economy rebounds from Covid slump as consumer spending picks up

Retail sales rose 3.5% from the same period last year, figures from the National Bureau of Statistics showed Wednesday, in line with forecasts and reversing from a 1.8% drop in December

Govt to form high-level committee to fast-track infra along China border

The government on Tuesday decided to set up a committee of secretaries to fast-track implementation of infrastructure projects along the border with China. The decision was taken at a high-level meeting chaired by Defence Minister Rajnath Singh. Singh called for expediting all pending projects on top priority, stating that a "whole of nation" approach should be adopted in matters of national security, the defence ministry said. The meeting was attended by Road Transport and Highways Minister Nitin Gadkari, Railways, Communications and IT Minister Ashwini Vaishnaw, Power Minister RK Singh, Environment Minister Bhupender Yadav and National Security Advisor Ajit Doval. Arunachal Pradesh Chief Minister Pema Khandu, Chief Minister of Uttarakhand Pushkar Singh Dhami and Ladakh Lt Governor Brig BD Mishra (Retd), Chief of Defence Staff Gen Anil Chauhan, Air Chief Marshal VR Chaudhari, Army Chief Gene Manoj Pande and Defence Secretary Giridhar Aramane were among those who attended the ...

US, UK, Oz leaders unveil nuclear submarine deal to counter China

The programme will cost up to A$368 billion ($245 billion) over the next three decades, a defence official said on Tuesday, the country's biggest single defence project in history

After 'decisive Covid victory', China reopens borders to tourists

Since abandoning Covid Zero, Communist Party has been prioritising a return to strong growth, with China's new Premier Li Qiang calling for more effort to meet a 5 per cent expansion target for 2023

Gaps in commitment, actual investment by China, says Nepal PM Dahal

Nepal's imports from China fell to $1.84 billion in 2022 from $2.38 billion a year ago, while exports totalled $5.39 million, down from $8.37 million in the same period, official data showed

Slide towards centralisation

China unveils a new government and an altered economic strategy