Page 99 - China

New Indonesian President Subianto visits China in first overseas trip

Indonesian President Prabowo Subianto pledged to maintain close ties with China during a meeting with Chinese leader Xi Jinping in Beijing on Saturday, his first overseas stop since he took office three weeks ago. Subianto is seeking to strengthen relations with China, Indonesia's largest trading partner and one of its most important foreign investors. This is his second visit to Beijing this year, following a visit in April as president-elect, the first overseas trip he made after winning the Indonesian presidential election in February. Indonesia considers China not only as a great power but as a great civilization, Subianto said at the meeting, adding that the two countries had had close relations for centuries. Therefore, I think it is only natural that now in the present situation, geopolitical and geoeconomic, that Indonesia and China have become very close partners and in many, many fields. Xi vowed support for Subianto's administration, thanking him for visiting China first

Toyota to ramp up China production to bring sales, production more closer

The plan, which has not been previously reported, represents a strategic pivot by the world's top selling automaker in the world's largest car market

Japan vows military buildup, deeper ties with US as regional tension rises

Japan's Prime Minister Shigeru Ishiba on Saturday renewed a pledge to build up his country's military and deepen its alliance with the United States under President-elect Donald Trump. Ishiba, who made the comments at an annual troop review held at Camp Asaka in the Tokyo suburbs, said the security environment surrounding Japan and the international community has significantly worsened due to escalating tensions with China, Russia and North Korea. He pledged to reinforce Japan's military power. He said breaches of Japanese airspace by Chinese and Russian warplanes earlier this year not only violated Japanese sovereignty but also threatened the safety of Japan and are absolutely unacceptable. He said Japan faces growing threats from China's accelerating military activity around Japanese coasts and from North Korea's repeated missile firings. As we face the most severe and complex security environment, I will balance and strengthen Japan's diplomacy and security, Ishiba said in his ..

Beijing's crackdown on Tibetan education intensifies with monks' transfers

This marks the latest chapter in Beijing's long-standing campaign to suppress Tibetan identity

Taiwan detects 12 Chinese military aircraft, 5 vessels around territory

China has increased its military activities around Taiwan by deploying aircraft and naval vessels since September 2020

China braces for uncertain future with Trump's return to White House

Trump's re-election is expected to bring aggressive trade policies, including tariffs as high as 60 per cent on Chinese goods

Oil falls over 2% on receding US hurricane risk, lackluster China stimulus

Energy producers shut in more than 22 per centof oil output in the US Gulf of Mexico by Thursday as a precautionary measure to brace against Hurricane Rafael

Trump's presidency may benefit India as trade diverts from China: Moody's

Donald Trump's presidency may see trade and investment flows diverting away from China as the US tightens investments in strategic sectors but this shift might benefit India and ASEAN countries, Moody's Ratings said on Friday. The November 5 election of Trump as the next US President will likely materially shift its policies from those of the current Joe Biden administration. In a second Trump administration, Moody's expects large fiscal deficits, protectionist trade actions, climate-measure rollbacks, a stricter stance on immigration, and easing regulations. Trump is likely to pursue more aggressive immigration policies, including increased deportations, the construction of additional border barriers, stricter visa regulations, and reduced asylum grants. "Although aimed at reducing unauthorised immigration and prioritising legal immigration based on merit, they could lead to labour shortages in sectors that rely heavily on immigrant labour, such as agriculture, retail, hospitality,

COP29 climate agenda clouded by global trade tensions ahead of summit

Delegates at the conference must adopt the summit agenda by consensus as their first task when the COP29 talks begin on Nov. 11 in Baku, Azerbaijan

China approves $840 bn plan to refinance govt debt, boost economy

China on Friday approved a 6 trillion yuan ($839 billion) plan to help local governments refinance their mountains of debt, in the latest push to rev up growth in the world's second largest economy. The plan will be implemented over the next three years, Xu Hongcai, vice-chairman of the National People's Congress's financial and economic committee, said at a news conference Friday. Finance minister Lan Fo'an estimated that the hidden debt of local governments was 14.3 trillion yuan ($2 trillion) at the end of 2023. Hidden debt refers to debt that has not been disclosed publicly. Lan said 2 trillion yuan would be allocated each year from 2024 to 2026 to help local governments resolve their debts. He estimated that the amount of hidden debt will drop to 2.3 trillion yuan ($320.9 billion) by the end of 2028. Officials also said Friday that the ceiling to issue special bonds will be raised to 35.52 trillion yuan ($4.96 billion) from 29.52 trillion yuan ($4.12 billion) for local ...

Steel imports from China increases 36.7% in H1FY25, shows govt data

China exported 1.4 million metric tons of steel to India during the period, up 36.7% from a year ago

China likely to unveil much-anticipated economic stimulus package

China is expected to announce much-anticipated steps to boost its flagging economy Friday at the end of this week's meeting of its legislature. Analysts say bold, multi-trillion yuan measures are needed to reinvigorate the world's second largest economy, which has yet to bounce back fully from the COVID-19 pandemic. The central bank loosened restrictions on borrowing in late September, sparking a stock market rally, but economists say the government needs to do more to ignite a sustained recovery. Government officials have indicated that could come at this week's meeting of the Standing Committee of the National People's Congress, which must give official approval to any new spending. The economy has shown signs of life in the last two months. Purchase subsidies offered to people who trade in old cars or appliances for new ones helped auto sales rebound in September. A survey of manufacturers turned positive in October after five straight months of decline, and exports surged 12.7%

No winners in trade, industrial wars, says China's ambassador to US

Trump's return could revive issues from his first presidency, when he initiated a bruising trade war with the world's second-largest economy in 2018

Boeing, Airbus to share Taiwan's China Airlines passenger jet order

The US is Taiwan's most important international backer and arms supplier despite a lack of formal diplomatic ties, and China Airlines' majority owner is the Taiwan government

Qualcomm chip sales to Chinese smartphone makers fuel strong results

Qualcomm's derived 46% of its revenue in its most recent fiscal year from customers with headquarters in China

Sterling Tech-Mobility partners with Chinese firm to set EV component plant

Sterling Tech-Mobility Ltd on Monday said it will set up a manufacturing facility in collaboration with Chinese firm Kunshan GLVAC Yuantong New Energy Technology for advance high-voltage DC contactors and relays for electric and hybrid vehicles in Bengaluru at an investment of Rs 40 crore. The collaboration, which is aimed at the domestic production of these auto parts, is expected to generate Rs 250 crore in business by FY30 and Sterling Tools will bring the niche technology to manufacture and assemble HVDC contactors and relays locally at a new facility in Bengaluru, a release said. Sterling Tech-Mobility Limited is a wholly-owned subsidiary of Sterling Tools Partners while GLVACYT is 100 per cent-owned by Kunshan GuoLi Electronic Technology Co Ltd. The development will empower Indian OEMs, tier-I companies, and other suppliers to access advanced technology right at home, building a self-reliant ecosystem for the electric vehicles (EV) and hybrid electric vehicles (HEV) sectors, t

BMW profit falls, misses expectations due to weak China sales, brake issues

Rival German automakers Volkswagen and Mercedes-Benz are also struggling with falling sales in China amid a weak economy and intense competition

From Taiwan to trade, China braces for rivalry as Trump claims victory

In response, China is likely to intensify its push for greater technological and economic self-sufficiency, while feeling more pressure to bolster economic ties with countries like Russia, he added

Taiwan detects 12 Chinese aircraft, 9 vessels near ADIZ, gives warning

Earlier on Tuesday, the MND detected 20 People's Liberation Army (PLA) aircraft, six People's Liberation Army Navy (PLAN) vessels up until 6 am (local time)

Chinese red tape leaves deals worth billions of dollars on the table

Obtaining regulatory approvals has become more difficult over the past few years, according to people familiar with the matter, who asked not to be named discussing a sensitive topic