Page 249 - China

BYD's $18 bn rout shows fallout of price war among EV makers in China

Traders are growing wary about BYD's prospects after the electric vehicle maker's dealers slashed prices of some models to boost sales

US to introduce bipartisan legislation against Chinese-app TikTok this week

We have never had a potential adversary like China. So this week, I'm introducing bipartisan legislation to protect our national security against a wide range of foreign tech threats, said US Senator

Germany's Olaf Scholz warns of 'consequences' if China sends arms to Russia

German Chancellor Olaf Scholz says there would be "consequences" if China sent weapons to Russia for Moscow's war in Ukraine, but he is fairly optimistic that Beijing will refrain from doing so. Scholz's comments came in an interview with CNN that aired on Sunday, two days after he met US President Joe Biden in Washington. US officials have warned recently that China could step off the sidelines and begin providing arms and ammunition to Moscow. Ahead of his trip, Scholz had urged Beijing to refrain from sending weapons and instead use its influence to press Russia to withdraw its troops from Ukraine. Asked by CNN if he could imagine sanctioning China if it did aid Russia, Scholz replied: "I think it would have consequences, but we are now in a stage where we are making clear that this should not happen, and I am relatively optimistic that we will be successful with our request in this case, but we will have to look at (it) and we have to be very, very cautious." He did not elabora

Biden administration prepares new rules for US investment in China: Report

It was mentioned in the report that sectors that could advance rivals' military capabilities would be a focus of the program, as per The Wall Street Journal report

China sets economic growth target at 5% for 2023, lowest in over 25 years

China unveiled its lowest growth target in more than a quarter-century as Beijing faces challenges in the domestic and global economy

Can't get my money out of China, India better investment option: Mobius

Mobius, who calls himself 'the Indiana Jones of Emerging Market investing', told FOX Business he's increasing exposure to alternative markets such as India and Brazil

China defence budget raised by 7.2%, 3 times India's, one-third of America

Actual defence spending during the year will rise to $225 billion, a single-digit budget increase for the eighth consecutive year

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China defence budget up for 8th consecutive year, 7.2% increase to $225 bn

China on Sunday hiked its defence budget by 7.2 per cent, marginally higher than last year, to 1.55 trillion yuan (about USD 225 billion), marking the eighth consecutive year of increase in its military spending. China, last year, pegged its defence budget at 1.45 trillion yuan, a 7.1 per cent increase. This year the defence spending is increased to 1.55 trillion yuan. However, in view of the appreciation of the dollar against the yuan, this year's defence spending of China totalled, according to the state-run China Daily, about USD 225 billion. Last year, in dollar terms China's defence spending amounted to USD 230 billion. This is for the eighth consecutive year that China has announced a single-digit percentage point increase in its military budget. In his work report presented to the opening session of the National People's Congress (NPC) - the country's rubber-stamp parliament - outgoing Premier Li Keqiang spoke highly of the armed forces' achievements at the borders without

China is destroying Tibetan identity, language and culture: UN report

The report by UN human rights experts, released in Geneva on February 6, 2023, talks about a million Tibetan children who have been separated from their families by the Chinese authorities

China sets this year's growth target at 'around 5%' to revive economy

China's government announced plans for a consumer-led revival of the struggling economy as its legislature opened a session Sunday that will tighten President Xi Jinping's control over business and society. Premier Li Keqiang, the top economic official, set this year's growth target at around 5 per cent following the end of anti-virus controls that kept millions of people at home and triggered protests. Last year's growth in the world's second-largest economy fell to 3 per cent, the second-weakest level since at least the 1970s. We should give priority to the recovery and expansion of consumption, Li said in a speech on government plans before the ceremonial National People's Congress in the Great Hall of the People in central Beijing. The full meeting of the 2,977 members of the NPC is the year's highest-profile event but its work is limited to endorsing decisions made by the ruling Communist Party and showcasing official initiatives. This month, the NPC is due to endorse the ...

China expands defence budget by 7.2%, marking just 0.1% increase than 2022

China on Sunday announced a 7.2 per cent increase in its defence budget for the coming year, just .1 per cent higher than in 2022. That marks the eighth consecutive year of single-digit percentage increases in what is now the world's second-largest military budget. The 2023 figure was given as 1.55 trillion yuan (USD 224 billion). Along with the world's biggest standing army, China has the world's largest navy and recently launched its third aircraft carrier. According to the US, it also has the largest aviation force in the Indo-Pacific, with more than half of its fighter planes consisting of fourth or fifth generation models. China also boasts a massive stockpile of missiles, along with stealth aircraft, bombers capable of delivering nuclear weapons, advanced surface ships and nuclear powered submarines.

China to increase military budget by 'appropriate and reasonable' level

Under Xi Jinping's leadership, China has continued to significantly expand and overhaul its military

Communist China strongest, disciplined enemy US ever faced: Nikki Haley

Communist China is the strongest and the most disciplined enemy that the United States has ever faced, Republican presidential aspirant Nikki Haley said on Friday as she slammed the ruling Democratic Party as a "socialist" party. In an impressive speech addressing the Conservative Political Action Conference -- the top annual event of the Republican Party and its support base -- Indian American Haley continued with her focus on America's foreign policy, wherein she asserted that the US should not give aid to countries that hate it. "Never in my life did I think Americans would look at the sky and see a Chinese spy balloon looking back at us. It was a national embarrassment," she said referring to a recent spy balloon incident. "Make no mistake: Communist China is the strongest and most disciplined enemy we have ever faced. We need to hold China accountable. Let us start with Covid. And before we even talk about the cartels, we need to confront the fact that China is the one sending

China uses trade as weapon, wants world to be dependent on it: Tony Abbott

He said that Australia wants to be as helpful as it can be. "I think Australia has this great sense of mateship, global mateship, as well as local and insular mateship," he said

China's central bank signals stable policy as economy rebounds

The PBOC will adjust monetary policy at the appropriate time, Deputy Governor Liu Guoqiang said at the briefing

At China political meeting, internet bosses are out, chip execs are in

Economy showing signs of recovery from its Covid slump

Current state of India-China relations abnormal: EAM Jaishankar to Qin

External Affairs Minister S Jaishankar on Thursday conveyed to his Chinese counterpart Qin Gang at a meeting that the state of India-China relations is "abnormal" as their talks focused on addressing the challenges in bilateral ties, especially that of peace and tranquillity in the border areas. Jaishankar's first in-person meeting with Qin came on the sidelines of the G20 foreign ministers conclave amid the over 34-month-long border row in eastern Ladakh. Qin took charge as Chinese foreign minister in December, succeeding Wang Yi. "It's our first meeting after he took over as foreign minister. We spent maybe about 45 minutes talking to each other and the bulk of our conversation, understandably, was about the current state of our relationship, which many of you have heard me describe as abnormal," Jaishankar told reporters. "And those were among the adjectives that I used in that meeting. There are real problems in that relationship that need to be looked at, that need to be ...

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Cash-starved Pak to receive another $1.3 billion from ally China

Pakistan will get another USD 1.3 billion from all-weather ally China to shore up its fast-depleting forex reserves, Finance Minister Ishaq Dar said on Monday, days after the cash-strapped country received USD 700 million from Beijing. Addressing a press conference here, Dar said that the Industrial and Commercial Bank of China Ltd (ICBC) would provide the funding in the coming days. "All our formalities with the ICBC are complete as of last night. We returned them USD 1.3bn in the last few months they are giving it back and have renewed this facility, he said. The minister said that USD 500 million would be transferred to Pakistan possibly in the next few days - by Monday or Tuesday - and another USD 500 million within 10 days. Last week, Pakistan received a much-needed cash injection of USD 700 million from China to help its ailing economy before the finalisation of talks with the IMF for financial assistance. It prompted Prime Minister Shehbaz Sharif to express gratitude to th