[🇨🇳] China----News & Views

[Saif]

Source : https://www.thedailystar.net/business/news/us-raise-tariffs-chinese-electric-vehicles-report-3607441

US to raise tariffs on Chinese electric vehicles: report

Photo: Reuters /File

The United States is planning to increase tariffs on Chinese clean energy goods, news reports said Friday, with levies on electric vehicles expected to roughly quadruple.

The move, reported by the Wall Street Journal, comes at the end of a long-awaited review of tariffs that were imposed during a trade war between Washington and Beijing.

Then-president Donald Trump imposed tariffs on some $300 billion in goods from China.

Officials have since initiated a review of the actions, with the US Trade Representative required to look into the impact of the levies -- first introduced in 2018 -- after four years.

A decision, expected on the coming Tuesday according to news reports, would come as President Joe Biden gears up for a rematch with Trump in November's presidential election.

Last month, he urged for a tripling on tariffs for Chinese steel and aluminum as he courted blue-collar voters in the battleground state of Pennsylvania.

In particular, higher tariffs are set to impact critical minerals and solar goods as well as batteries from China, said the Wall Street Journal.

The tariff rate on EVs is also due to rise from 25 percent to around 100 percent, the report added.

This is unlikely to deal an immediate blow to Chinese EV companies, which do not have a large presence in the United States due to existing levies.

But officials appear to be guarding against Chinese imports.

Treasury Secretary Janet Yellen recently warned against overcapacity in China, which risks a flood of below-cost goods in the global market, potentially impacting burgeoning US industries.

The United States has been seeking to build up its domestic green tech supply chains, and has been especially concerned about excess capacity in industries such as EVs, batteries and solar energy.

Tariff actions would build on earlier moves by the Biden administration, such as a recent probe into the national security risks posed by Chinese tech in cars.

A concern is that they could be used to collect sensitive data.

Washington has also launched an investigation into China's trade practices in the shipbuilding, maritime and logistics sectors, prompting a furious response from Beijing.

Biden has denied that there was a trade war with China despite calling for a hike in steel tariffs.​

 

[Saif]

China-Russia relations: What is Xi Jinping prepared to pay for Putin’s war?

Breaking News, International News & Multimedia

thedailynewnation.com

China-Russia relations: What is Xi Jinping prepared to pay for Putin's war?
16 May 2024, 12:00 am
BBC :

More than two years into his invasion of Ukraine, China has emerged as a vital ally. It has refused to condemn the war and continues to trade with a heavily sanctioned Russia, much to the ire of the US and the European Union.

However, it appears Mr Putin wants more. But is China willing to pay the price?

It is perhaps not surprising the Russian leader has chosen China as his first foreign trip since he was sworn in for a fifth presidential term last week. The two-day state visit comes as their relationship reached its "highest level ever", he told Chinese state media. He spoke of his interest in Chinese martial arts and philosophy, and said some of his family are learning Mandarin.

"In the face of a difficult international situation, our relations are still strengthening," he said.

But while Mr Putin brags about their friendship, Mr Xi might have reason to worry.

The US has just announced a raft of new sanctions against Beijing and Hong Kong-based banks and companies that work with Moscow, allegedly helping to evade existing restrictions.

Because, while China is not selling arms to Russia, Washington and Brussels believe it is exporting tech and components essential for war. During his recent trip to Beijing, US Secretary of State Antony Blinken told the BBC that China was "helping fuel the biggest threat" to European security since the Cold War.

For them, this has become a red line. But China insists its stance on Ukraine is neutral – and the exports, which have commercial uses outside of war, are not breaking the rules.​

 

[Saif]

Putin arrives in China to deepen strategic partnership with Xi

Vladimir Putin arrives in China for talks with Xi Jinping to deepen strategic partnership, sending a message about his priorities and the depth of his personal relationship with Xi.

en.prothomalo.com

Putin arrives in China to deepen strategic partnership with Xi
ReutersMoscow/Beijing
Published: 16 May 2024, 08: 47

Russian President Vladimir Putin and China's President Xi Jinping make a toast during a reception following their talks at the Kremlin in Moscow on 21 March, 2023AFP file photo

Russian President Vladimir Putin arrived in Beijing early on Thursday for talks with Xi Jinping that the Kremlin hopes will deepen a strategic partnership between the two most powerful geopolitical rivals of the United States.

China and Russia declared a "no limits" partnership in February 2022 when Putin visited Beijing just days before he sent tens of thousands of troops into Ukraine, triggering the deadliest land war in Europe since World War Two.

By picking China for his first foreign trip since being sworn in for a six-year term that will keep him in power until at least 2030, Putin is sending a message to the world about his priorities and the depth of his personal relationship with Xi.

In an interview with China's Xinhua news agency, Putin praised Xi for helping to build a "strategic partnership" with Russia based on national interests and deep mutual trust.

"It was the unprecedentedly high level of the strategic partnership between our countries that determined my choice of China as the first state that I would visit after officially taking office as president of the Russian Federation," Putin said.

"We will try to establish closer cooperation in the field of industry and high technology, space and peaceful nuclear energy, artificial intelligence, renewable energy sources and other innovative sectors," Putin said.

Putin, 71, and Xi, 70, will take part in a gala evening celebrating 75 years since the Soviet Union recognised the People's Republic of China, which was declared by Mao Zedong in 1949.

Xinhua confirmed his arrival for what China's state press has described as a state visit from an "old friend".

Putin's arrival and visit is the top trending item on the Chinese social media platform Weibo, with 1.4 million search requests amid a stream of images, videos and comments.

The United States casts China as its biggest competitor and Russia as its biggest nation-state threat while US President Joe Biden argues that this century will be defined by an existential contest between democracies and autocracies.

Putin and Xi share a broad world view, which sees the West as decadent and in decline just as China challenges US supremacy in everything from quantum computing and synthetic biology to espionage and hard military power.

Putin will also visit Harbin in northeastern China, a city with historic ties to Russia. A mall devoted to Russian-made goods representing some 80 Russian manufacturers opened on Thursday, the China Daily reported.

Xi and Putin

China has strengthened its trade and military ties with Russia in recent years as the United States and its allies imposed sanctions against both countries, particularly against Moscow for the invasion of Ukraine.

The West says China has played a crucial role in helping Russia withstand the sanctions and has supplied key technology which Russia has used on the battlefield in Ukraine.

But China, once the junior partner of Moscow in the global Communist hierarchy, remains by far the most powerful of Russia's friends in the world.

Putin's arrival follows a mission to Beijing late last month by US Secretary of State Antony Blinken, in part to warn China's top diplomat Wang Yi against deepening military support for Russia.

Kremlin foreign policy aide Yuri Ushakov said that the two leaders would hold informal talks on Thursday evening over tea and that they would touch on Ukraine, Asia, energy and trade.

Putin's newly appointed defence minister, Andrei Belousov, as well as Foreign Minister Sergei Lavrov, Security Council Secretary Sergei Shoigu and foreign policy adviser Yuri Ushakov, will also attend, along with Russia's most powerful CEOs.

It was not immediately clear if Gazprom CEO Alexei Miller would go to China as he was on a working visit to Iran on Wednesday.​

 

[Saif]

Xi, Putin hail ties as ‘stabilising’ force in chaotic world

Leaders Xi Jinping and Vladimir Putin framed their nations’ ties as a stabilising force in a chaotic world as they met Thursday in Beijing, where the Russian president is seeking...

www.newagebd.net

Xi, Putin hail ties as 'stabilising' force in chaotic world
Agence France-Presse . Beijing 16 May, 2024, 23:40

Russia's president Vladimir Putin and China's president Xi Jinping attend a concert marking the 75th anniversary of the establishment of diplomatic relations between Russia and China and opening of China-Russia Years of Culture at the National Centre for the Performing Arts in Beijing on Thursday. | AFP photo

Leaders Xi Jinping and Vladimir Putin framed their nations' ties as a stabilising force in a chaotic world as they met Thursday in Beijing, where the Russian president is seeking greater Chinese support for his war effort in Ukraine.

It is Putin's first trip abroad since his March re-election and the second in just over six months to China, an economic lifeline for Russia after the West hit it with unprecedented sanctions over its military offensive in Ukraine.

Putin was greeted by Xi at a grand welcoming ceremony outside Beijing's Great Hall of the People, footage by state broadcaster CCTV showed.

In a meeting, Xi then told his 'old friend' Putin that China-Russia relations were 'conducive to peace'.

'China is ready to work with Russia to uphold fairness and justice in the world,' Xi added.

Putin, in turn, told Xi the two countries' relations were 'stabilising factors in the international arena'.

'Relations between Russia and China are not opportunistic and not directed against anyone,' Putin said, according to a Kremlin readout.

'Together, we uphold the principles of justice and a democratic world order that reflects multipolar realities and is based on international law,' he added.

Following closed-door meetings, the two leaders then signed a joint statement on deepening their countries' 'comprehensive strategic partnership', state news agency Xinhua said.

The Russian leader's arrival came hours after he hailed his country's troops for advancing on 'all fronts' on the battlefield in Ukraine, following a major new ground assault.

And the Kremlin said Russia and China had agreed to oppose 'further escalation' of the conflict in Ukraine on Thursday.

'The parties note the need to stop any steps that contribute to the prolongation of hostilities,' the Kremlin's readout of their joint statement said.

China has dismissed claims it is aiding Russia's war in Ukraine and insisted that the West is exacerbating the conflict by sending arms to Ukraine.

Xi has also rebuffed Western criticism of his country's close ties with Moscow.

But their economic partnership has come under close scrutiny from the West in recent months.

US secretary of state Antony Blinken warned China's support for Russia's 'brutal war of aggression' in Ukraine had helped Russia ramp up production of rockets, drones and tanks — while stopping short of direct arms exports.

China claims to be a neutral party in the Ukraine conflict, which it has never condemned and in which it has sought to frame itself as a mediator.

And in a statement to media following talks with Putin, Xi said the two sides agreed on the need for a 'political solution' to resolving the war.

'China's position on this issue has always been clear,' Xi said in footage broadcast by Russian TV.

That position included 'respecting the sovereignty and territorial integrity of all countries' as well as 'respecting the reasonable security concerns of all sides', the Chinese leader added.

The remarks echo a paper issued by Beijing last year, which Western countries said could enable Russia to hold much of the territory it has seized in Ukraine.

China also 'looks forward to the early restoration of peace and stability on the European continent', Xi said, promising Beijing would 'continue to play a constructive role to that end'.

Putin in response said he was 'grateful' to Beijing for its efforts to help resolve the conflict.

He also referenced Beijing's complaints about growing security cooperation between the United States and its allies in Asia, warning of 'harmful' military alliances in the region.

On Thursday afternoon, the Russian leader met premier Li Qiang — China's number two official — who said Beijing was willing to 'continue to deepen cooperation in various fields'.

Putin and Xi then attended a ceremony celebrating 75 years of diplomatic relations between Moscow and Beijing, Xinhua said.

China-Russia trade has boomed since the Ukraine invasion and hit $240 billion in 2023, according to Chinese customs figures.

But after Washington vowed to go after financial institutions that facilitate Moscow, Chinese exports to Russia dipped in March and April, down from a surge early in the year.

An executive order by president Joe Biden in December permits secondary sanctions on foreign banks that deal with Russia's war machine, allowing the US Treasury to cut them out of the dollar-led global financial system.

That, coupled with recent efforts to rebuild fractured ties with the United States, may make Beijing reluctant to openly push more cooperation with Russia — despite what Moscow may want, analysts say.

Putin's post-election trip to Beijing echoes Xi's own visit to Russia after his re-anointing as leader last year.

The Russian leader is due to travel to the northeastern city of Harbin for a trade and investment expo on Friday.​

 

[Saif]

US bars imports from 26 Chinese textile companies over Uyghur forced labour

The United States blocked imports from 26 Chinese cotton traders or warehouse facilities on Thursday as part of its effort to eliminate goods made with the forced labour of Uyghur minorities from the US supply chain. The companies are the latest additions to the Uyghur Forced Labor Prevention Act

thefinancialexpress.com.bd

US bars imports from 26 Chinese textile companies over Uyghur forced labour
REUTERS
Published :
May 16, 2024 21:29
Updated :
May 16, 2024 21:29

The United States blocked imports from 26 Chinese cotton traders or warehouse facilities on Thursday as part of its effort to eliminate goods made with the forced labour of Uyghur minorities from the US supply chain.

The companies are the latest additions to the Uyghur Forced Labor Prevention Act Entity List that restricts the import of goods tied to what the US government has characterised as an ongoing genocide of minorities in China's Xinjiang region.

US officials believe Chinese authorities have established labour camps for Uyghurs and other Muslim minority groups in China's western Xinjiang region. Beijing denies any abuses.

Many of the cotton companies listed are based outside of Xinjiang but source their cotton from the region, the US Department of Homeland Security said in a statement.

The designations help "responsible companies conduct due diligence so that, together, we can keep the products of forced labour out of our country," Alejandro Mayorkas, Secretary of Homeland Security, said in the statement.

The Chinese embassy in Washington did not immediately respond to a request for comment.

Washington has restricted imports from 65 entities since the Uyghur Forced Labor Prevention Act Entity List law was passed in 2021, according to the department.

"We enthusiastically endorse DHS's action today to nearly double the Uyghur Forced Labor Prevention Act's 'Entity List' -- while recognizing that the current list remains only a fraction of the businesses complicit in forced labor," Rep. Chris Smith and Sen. Jeff Merkley, chairs of the bipartisan Congressional-Executive Commission on China said in a statement.

The lawmakers want DHS to blacklist Chinese companies in the polysilicon, aluminum, PVC and rayon industries and any company in other parts of Asia making goods for the US market with inputs sourced from Xinjiang.​

 

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China should sell its cars in Pakistan to break the Japanese monopoly on the car market.

 

[Saif]

China offers to buy up commercial housing to boost property market

China cut the minimum down payment rate for first-time homebuyers on Friday and suggested the government could buy up commercial real estate, in some of Beijing’s most ambitious moves yet to lift the ailing housing market out of an unprecedented debt crisis...

www.newagebd.net

China offers to buy up commercial housing to boost property market
Agence France-Presse . Beijing 17 May, 2024, 22:45

A worker rides a bicycle past a housing complex under construction in Beijing on Friday. China cut the minimum down payment rate for first-time homebuyers on Friday and suggested the government could buy up commercial real estate, in some of Beijing's most ambitious moves yet to lift the ailing housing market out of an unprecedented debt crisis.

China cut the minimum down payment rate for first-time homebuyers on Friday and suggested the government could buy up commercial real estate, in some of Beijing's most ambitious moves yet to lift the ailing housing market out of an unprecedented debt crisis.

Property and construction accounts for more than a quarter of gross domestic product, but the sector has been under unprecedented strain since 2020, when authorities tightened developers' access to credit in a bid to reduce mounting debt.

Since then, major companies including China Evergrande and Country Garden have teetered, while falling prices have dissuaded consumers from investing in property.

Under mounting pressure to boost the ailing market and ensure millions of unused homes go to those in need of housing, Beijing convened a video conference Friday, state news agency Xinhua said.

Friday's meeting was attended by regulators, representatives of top banks, local governments and the property market, Bloomberg News reported.

'Great efforts should be made to promote the handling of commercial housing projects classified as under construction that have been sold and are facing difficulties to deliver,' vice-premier He Lifeng told the meeting, according to state media.

'In cities where there is a large inventory of commercial housing, the government can place orders and purchase some of the commercial housing at reasonable prices as appropriate to use as affordable housing,' he added.

No details were provided on how many houses would be bought.

'Relevant local governments should... properly handle transferred idle residential properties through retaking, acquisition... to help housing companies with financial difficulties solve their challenges,' He said.

State media also reported, citing the central bank and the National Financial Regulatory Administration, that they would cut the minimum down payment rate for first-time homebuyers to 15 per cent, one of the country's lowest-ever rates.

The rate will be cut to 25 per cent for second-home purchases, it added.

The moves are some of Beijing's most ambitious yet in seeking to reverse a chronic crisis in the housing market.

'This is the lowest down payment requirement and the lowest mortgage interest rate in history,' Yan Yuejin, research director of the Yiju Research Institute, told AFP.

'These policies send very bullish signals and will be very helpful in boosting market moods,' he added.

'We are very optimistic about the potential effects they will have on boosting the real estate market.'

During a State Council briefing Friday afternoon attended by officials from the housing ministry as well as those from China's top regulator and its central bank, officials pointed to 'significant difficulties' in the market.

'Significant changes have taken place in the supply and demand dynamics of the property market,' said Dong Jianguo, deputy head of China's housing ministry, adding that the sector 'is in the process of adjustment'.

The briefing also saw central bank deputy governor Tao Ling announce that the government would set up a loan scheme for low-income housing totalling over $41 billion.

Shares in Chinese developers have rallied in Hong Kong in recent days on hopes of fresh support for the sector.

Jeff Zhang, an analyst at Morningstar Inc. in Hong Kong, told Bloomberg Friday's move was 'unexpected and positive for property stocks'.

Agile Group soared 23 per cent and Fantasia added 8.3 per cent Friday, while Sino-Ocean Group and CIFI Holdings each gained more than 12 per cent.

Longfor Group added 10 per cent and China Vanke piled on 19 per cent each, having jumped 15 per cent and 16 per cent respectively on Thursday, according to Bloomberg News.

The meeting comes as official figures Friday showed that property prices and sales in the country continued to slip in April.

Further economic data showed that industrial production picked up last month, but consumption continued to slow.

China on Friday also issued around $5.5 billion in ultra-long treasury bonds, Xinhua said, the first batch of a planned sale of nearly $140 billion in such bonds this year.

Measures introduced by the central government to support the sector have so far had little effect.

But HSBC economists wrote in a note that, with Friday's announcement: 'China's property stabilisation plan is underway.'

'The quicker and bolder the intervention plan, the more effective it will be, in our view,' they said.​

 

[Saif]

US tariffs on Chinese EVs hurt green transition: XPeng boss

The president of Chinese electric vehicle maker XPeng on Friday criticised the fresh tariffs on Chinese cars imposed by Washington as ‘unfavourable’ for the United States’ energy transition...

www.newagebd.net

US tariffs on Chinese EVs hurt green transition: XPeng boss
Agence France-Presse . Hong Kong 17 May, 2024, 22:28

The president of Chinese electric vehicle maker XPeng on Friday criticised the fresh tariffs on Chinese cars imposed by Washington as 'unfavourable' for the United States' energy transition.

US president Joe Biden announced earlier this week the quadrupling of customs duties on Chinese electric cars to 100 per cent, which China slammed as politicising an economic issue and a breach of World Trade Organisation rules.

XPeng president and vice-chairman Brian Gu said at an event in Hong Kong on Friday that the levies will lead to 'higher costs and slower product iteration', hampering the US's green energy ambitions.

'For an auto market as important and large as the US, they would want to have carbon-neutral, green energy transition,' Gu told reporters. 'The tariffs are unfavourable to its own climate and energy transition.'

'I hope one day it can become more open, so that products all over the world can compete there.'

XPeng - which sold more than 1,40,000 cars last year - is not directly impacted by the tariffs as it does not sell in the US, he added.

Gu's comments came a day after XPeng announced its launch in France and Germany, with plans to expand to the United Kingdom, Spain and Italy before the end of 2024.

Asked if he was concerned that the European Union will mirror American tariffs, Gu told AFP that XPeng would press ahead with its global strategy and not be limited as a China-only EV manufacturer.

Europe's anti-subsidy investigation into Chinese EVs had 'gone on for some time' but there is 'nothing conclusive', he said.

Founded in 2014, the Guangzhou-headquartered EV manufacturer said on Thursday it will market its premium SUV models in France, with prices starting at $65,200.

The company's senior product planning expert Alan Ma, said XPeng plans to introduce smaller SUVs to the French market in future.

'In France, we can see that smaller cars are more popular... We will fully consider the needs of the French market and bring in smaller models to suit French buyers,' Ma told AFP.​

 

[Saif]

China widening area denial

Discover the significant expansion of China's naval capabilities and its impact on regional and global dynamics, including the modernization of its fleet, development of aircraft carriers, and strategic partnerships in the Asia-Pacific region.

en.prothomalo.com

China widening area denial
Mohammad Abdur Razzak
Updated: 15 May 2024, 16: 16

A nuclear-powered Type 094A Jin-class ballistic missile submarine of the Chinese People's Liberation Army (PLA) Navy is seen during a military display in the South China Sea April 12, 2018Reuters

People's Liberation Army Navy (PLAN), the naval branch of Chinese military celebrated its 75th founding anniversary on 23 April 2024. Since its establishment on 24 April 1949 till the 1980s, PLAN was an offshore territorial defence navy built on quantitative force. A forward looking development of the navy simmered only in the early 1990s.

Taiwan's first presidential election in 1996 accelerated the navy's modernisation. China was perturbed by the political move across the Taiwan Strait. China viewed the first ever election as prelude to Taiwan declaring independence. To stop Taiwan crossing the red line, China conducted massive naval maneuver in the Taiwan Strait including live fire missiles landing close to Taiwan's coast. China's naval maneuver prompted the US administration to dispatched two carrier task groups to offset China's naval threat.

PLAN leadership got the ground to strongly persuade political leadership for renewed attention toward the long neglected maritime frontiers. Pre-election naval diplomatic engagements brought to the fore China's naval weaknesses over the reunification of Taiwan and in defending its disputed maritime claims over the nine-dash line, Spratly and Paracel Island Groups in the South China Sea, disputed Senkaku/Diaoyu island, first and second island chain and importantly, protecting the Sea Lines of Communication transporting China's ever increasing maritime trade.

Chinese Communist Party (CCP) leadership was convinced to prioritize the modernization of the navy to widen sea denial capacity from brown water into blue waters beyond the horizon, below it and above it with a mix bag of offensive and defensive capacity. PLAN since 1990s saw rapid and consistent quantitative and qualitative growth in ships, submarines, and naval aviation including their training and operations.

Traditionally PLAN is subordinate to People's Liberation Army (PLA). PLA had the leadership of Chinese armed forces. In 2023 the CCP leadership appointed Admiral Dong Jun, the former Chief of PLAN as the first ever Minister of Defence to lead Chinese armed forces. Appointment of Admiral Dong was in appreciation of navy's importance to China in the context of geo-political reality and transforming the navy further as the new great power maritime competition is increasing.

China's fast economic growth and progress in civilian and military technology since 1980s were key drivers to navy's modernization. Despite slow economic growth at the beginning of 2020s, China did not alter the course of naval programs.

It is interesting to note that, Admiral Dong's appointment also followed the political blow with Nancy Pelosi's Taiwan visit in August 2022. "The CCP has handed over the leadership of the PLA to a man who views the world through the lens of war at sea …. Admiral Dong's various appointments should be a reminder of the importance the CCP places on the PLAN and the PLA's overall capability to take Taiwan by kinetic means should other efforts fail."

Since the naval diplomatic confrontation in 1996, PLAN's command structure has been broadened with operational flexibility. With a strength of 240,000 personnel including 15,000 marines and 26,000 naval aviation personnel PLAN today is the second largest navy in the world per tonnage - two million tonnage in 2022, only behind the US Navy. It has the largest number of war ships globally with an overall order of battle approximately 390 ships and submarines compared with the US naval force having approximately 300 ships and submarines in naval inventory.

China's fast economic growth and progress in civilian and military technology since 1980s were key drivers to navy's modernization. Despite slow economic growth at the beginning of 2020s, China did not alter the course of naval programs. During 2022 and 2023, the PLAN commissioned its "eighth Type 055/Renhai-class cruiser, eight more Type 054A/Jiangkai II frigates, and one comprehensive submarine rescue ship.

In addition, the PLAN launched one Type 075/Yushen-class amphibious assault ship, five cruisers and destroyers, two newer Type 054B frigates, and three nuclear-powered submarines." "The total tonnage launched and commissioned in 2023 was about 170,000 tons, compared with 110,000 tons in 2022, although still somewhat lower than the 200,000-ton annual average prior to the COVID-19 pandemic." Naval analysts assessed that the decrease in tonnage production is likely have covered by advanced technologies in new platforms. The PLAN surface fleet strength is projected to be 430 by 2030.

The most significant development since 1996 has been the aircraft carrier program and modernisation of the nuclear submarine fleet. PLAN has two operational aircraft carriers Liaoning (Type 001) and Shandong (Type 002) as of 2024. The third, Fujian (Type 003), completed eight day long first sea trial in May 2024. The fourth (Type 004), possibly with nuclear propulsion, reportedly is under construction. Liaoning and Shandong had their first operational deployment during the 'targeted military operations' that PLAN conducted around Taiwan ahead of the US House Speaker Nancy Pelosi's visit in August 2022.

Liaoning was built on the hull of 67,500 ton ex-Soviet aircraft carrier Varyag (Kuznetsov Class). China purchased the hull without machinery and equipment through a Macau based private tourist venture project in 1998. But upon arrival in 2000, the ship was docked in Dalian naval shipyard. Liaoning was commissioned in 2011. Shandong, the second aircraft carrier was built on own design and constructed domestically. It was commissioned in 2019.

The third 80,000 ton Fujian is also designed and built domestically. It is likely to join the PLAN end of 2025 or early 2026. China's aircraft carrier fleet is not of the same capability like its immediate rival USA which has 11 aircraft carriers all powered by nuclear technology. Its submarine fleet is all nuclear.

USA has battle hardened experience over a hundred years in carrier operations in different parts of oceans including the Second World War and other major wars. China has plan to have a fleet around six aircraft carriers by 2030/2035. Next three carriers could be built with nuclear propulsion technology.

While modernising its fleet in quick march, China has limitations in building international network of naval infrastructure. China's growth in alliance building has not been as successful as it is expanding the fleet. China has established its first overseas military support base in 2017 in the Horn of Africa in Djibouti overlooking the global choke points at Bab-el-Mandeb and the Suez Canal. China invested USD 590 million to construct the base as both logistical and operational spring board to boost power projection in the Horn of Africa and in the Indian Ocean.

China has reportedly built Ream Naval Base in Cambodia abutting to the South China Sea. There is debate over the use of this naval base by Chinese war ships. "Controversy over the Ream Naval Base initially arose in 2019 when The Wall Street Journal reported that an early draft of a reputed agreement seen by U.S. officials would allow China 30-year use of the base, where it would be able to post military personnel, store weapons and berth warships." Cambodian government persistently denies having any military agreement with China.

Military ruled Myanmar is also at the center of debate. Great Coco Island with advanced surveillance systems and new naval infrastructures is back in discussion. Large naval infrastructures at Thanlyin Naval Base in Yangon with Chinese assistance can moor ships larger than those in Myanmar's naval inventory. India expresses persistent concern about potential docking of Chinese ships in Sri Lanka and Maldives.

Besides, navies of China, Iran and Russia conduct naval exercises to form 'axis of resistance' against US dominance at sea. With all endeavors on widening area denial well beyond the horizon, PLAN will have to influence its challengers not to interfere in its ambitions in the immediate vicinity and demonstrate the ability to exercise strategic leadership to enforce constabulary roles in Asian waters.

* Mohammad Abdur Razzak is a retired Commodore of Bangladesh Navy and a security analyst.​

 

[Saif]

https://thefinancialexpress.com.bd/trade/china-launches-anti-dumping-probe-into-eu-us-japan-taiwan-plastics

China launches anti-dumping probe into EU, US, Japan, Taiwan plastics
FE ONLINE DESK
Published :
May 19, 2024 23:14
Updated :
May 19, 2024 23:14

Shipping containers at Pier J at the Port of Long Beach wait for processing in Long Beach, California, US, April 4, 2018. Photo : Reuters/Bob Riha Jr/Files

China's commerce ministry on Sunday launched an anti-dumping probe into POM copolymers, a type of engineering plastic, imported from the European Union, United States, Japan and Taiwan.

The plastics can partially replace metals such as copper and zinc and have various applications including in auto parts, electronics, and medical equipment, the ministry said in a statement.

The investigation should be completed in a year but could be extended for six months, it said.

The European Commission, which oversees EU trade policy, said it would carefully study the contents of the investigation before deciding on any next steps.

"We expect China to ensure that this investigation is fully in line with all relevant WTO (World Trade Organization) rules and obligations," a spokesperson said.

China's plastics probe comes amid a broader trade row with the United States and Europe.

The United States on Tuesday unveiled steep tariff increases on Chinese electric vehicles (EVs), computer chips, medical products and other imports.

On Friday, the European Union launched a trade investigation into Chinese tinplate steel, the latest in a string of EU trade and subsidy probes into Chinese exports.

Most notably, the European Commission launched a probe last September to decide whether to impose punitive tariffs on cheaper Chinese EVs that it suspects of benefiting from state subsidies.

Beijing argues the recent focus by the United States and Europe on the risks to other economies from China's excess capacity is misguided.

Chinese officials say the criticism understates innovation by Chinese companies in key industries and overstates the importance of state support in driving their growth.​

 

[Saif]

Stop military, political threats

Taiwan President Lai Ching-te yesterday asked China to stop its military and political threats, saying in his inauguration speech that peace was the only choice and that Beijing had to respect the choice of the Taiwanese people.

www.thedailystar.net

Stop military, political threats
New Taiwanese president calls on China

Taiwan President Lai Ching-te yesterday asked China to stop its military and political threats, saying in his inauguration speech that peace was the only choice and that Beijing had to respect the choice of the Taiwanese people.

China responded by saying Lai had sent "dangerous signals" that sought to undermine peace and stability across the Taiwan Strait.

To read the rest of the news, please click on the link above.​

 

[Saif]

China holds war games around Taiwan

China yesterday encircled Taiwan with naval vessels and military aircraft in war games, as it vowed the blood of “independence forces” on the self-ruled island would flow.

www.thedailystar.net

China holds war games around Taiwan
Vows blood of 'independence forces'; Taipei condemns drills, pledges to 'defend freedom'

China yesterday encircled Taiwan with naval vessels and military aircraft in war games, as it vowed the blood of "independence forces" on the self-ruled island would flow.

The two days of drills are part of an escalating campaign of intimidation by China that has seen it carry out a series of large-scale military exercises around Taiwan in recent years.

The drills come after Lai Ching-te was sworn in as Taiwan's new president this week and made an inauguration speech that China denounced as a "confession of independence".

As the drills got underway, China's military said they would serve as "strong punishment for the separatist acts of 'Taiwan independence' forces".

To read the rest of the news, please click on the link above.​

 

[Saif]

China calls shots with Russia, Europe

XI JINPING’S balancing act with Russia and the West took on a new challenge with Vladimir Putin’s arrival in Beijing on May 16. It was roughly the 40th such meeting of these supposedly old friends...

www.newagebd.net

China calls shots with Russia, Europe
Mel Gurtov 24 May, 2024, 00:00

A man cycles past a giant screen at a shopping mall as it shows a news report about the state visit of Russia's president Vladimir Putin in Beijing on May 16. Leaders Xi Jinping and Vladimir Putin framed their nations' ties as a stabilising force in a chaotic world as they met May 16 in Beijing. | — Agence France-Presse/Hector Retamal

XI JINPING'S balancing act with Russia and the West took on a new challenge with Vladimir Putin's arrival in Beijing on May 16. It was roughly the 40th such meeting of these supposedly old friends.

Once again Xi had to demonstrate loyalty to Russia in its war in Ukraine while also showing sensitivity to European commercial interests and US pressure on China to limit its military support of Putin's war. At least on the surface, Xi came through for Putin: He promised to expand all manner of China-Russia ties, fully support the 'comprehensive strategic partnership', increase 'strategic coordination', and support Russia's 'special military operation' (not war) in Ukraine.

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[Saif]

China ends military drills around Taiwan

China has ended two days of military drills around Taiwan that saw jets loaded with live munitions and warships practise seizing and isolating the...

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China ends military drills around Taiwan
Agence France-Presse . Beijing 25 May, 2024, 22:44

China has ended two days of military drills around Taiwan that saw jets loaded with live munitions and warships practise seizing and isolating the self-ruled island.

The exercises simulated strikes targeting Taiwan's leaders as well as its ports and airports to 'cut off the island's 'blood vessels'', Chinese military analysts told state media.

Beijing considers the democratic island part of its territory and has not ruled out using force to bring it under its control.

The war games kicked off Thursday morning, as aircraft and naval vessels surrounded Taiwan to conduct mock attacks against 'important targets', state broadcaster CCTV said.

Codenamed 'Joint Sword-2024A', the exercises were launched three days after Taiwan's President Lai Ching-te took office and made an inauguration speech that China denounced as a 'confession of independence'.

Beijing's defence ministry spokesman Wu Qian said Friday that Lai was pushing Taiwan 'into a perilous situation of war and danger'.

'Every time 'Taiwan independence' provokes us, we will push our countermeasures one step further' until 'complete reunification' is achieved, he said.

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[Saif]

US seeks to build Asia-Pacific version of NATO: China

A Chinese defence official accused the United States on Saturday of seeking to build an Asia-Pacific version of NATO to maintain its hegemony in the region and...

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US seeks to build Asia-Pacific version of NATO: China
Agence France-Presse . Singapore 02 June, 2024, 02:01

A Chinese defence official accused the United States on Saturday of seeking to build an Asia-Pacific version of NATO to maintain its hegemony in the region and described the superpower as the 'greatest challenge to regional peace and stability'.

Lieutenant General Jing Jianfeng made the remarks on the sidelines of a major security forum in Singapore where US Defense Secretary Lloyd Austin earlier hailed a 'new era of security' for the region.

From Japan to Australia, the United States has been deepening defence ties across the region, ramping up joint military exercises and regularly deploying warships and fighter jets in the Taiwan Strait and South China Sea—infuriating Beijing.

In the past three years, Austin said there had been a 'new convergence around nearly all aspects of security' in the Asia-Pacific, where there was a shared understanding of 'the power of partnership'.

'This new convergence is producing a stronger, more resilient and more capable network of partnerships and that is defining a new era of security in the Indo-Pacific,' Austin told the Shangri-La Dialogue in Singapore.

However, it was not 'about imposing one country's will' or 'bullying or coercion', Austin said, in an apparent shot at China, which has increased its sabre-rattling over self-ruled Taiwan and grown more confident in pressing its claims in the South China Sea.

'This new convergence is about coming together and not splitting apart,' Austin said. 'It's about the free choices of sovereign states.'

Ukrainian President Volodymyr Zelensky arrived at a Singapore security forum on Saturday as he seeks to rally support for Kyiv while a Russian offensive gains ground.

Zelensky got out of a white Audi sedan in front of the luxury hotel hosting the Shangri-La Dialogue and walked quickly into the lobby, which was crowded with defence officials from around the world, journalists and hotel guests.

After shaking hands with the organisers of the three-day event, Zelensky was applauded by onlookers and then escorted to an elevator.

Zelensky is set to speak at the security forum at 11:30 am (0330 GMT) on Sunday, according to event organisers the International Institute for Strategic Studies.

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[Saif]

Beijing ready to ‘forcefully’ stop Taiwan independence: China defence chief

Chinese defence minister Dong Jun warned on Sunday that his military was ready to ‘forcefully’ stop Taiwan independence but called for greater exchanges with the United States.......

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Beijing ready to 'forcefully' stop Taiwan independence: China defence chief
02 June, 2024, 08:55

China's defence minister Dong Jun speaks during the 21st Shangri-La Dialogue summit at the Shangri-La Hotel in Singapore on June 2, 2024. | AFP photo.

Chinese defence minister Dong Jun warned on Sunday that his military was ready to 'forcefully' stop Taiwan independence but called for greater exchanges with the United States.

The remarks at an annual security forum in Singapore followed the first substantive face-to-face talks in 18 months between the two countries' defence chiefs.

'We have always been open to exchanges and cooperation, but this requires both sides to meet each other halfway,' Dong told the Shangri-La Dialogue where he met with US Defense Secretary Lloyd Austin on Friday.

'We believe that we need more exchanges precisely because there are differences between our two militaries.'

Dong and Austin met for over an hour at the luxury hotel hosting the forum, which is attended by defence officials from around the world and in recent years has been seen as a barometer of US-China relations.

After the meeting, Austin said that telephone conversations between US and Chinese military commanders would resume 'in the coming months', while Beijing hailed the 'stabilising' security relations between the countries.

This year's Shangri-La Dialogue comes a week after China held military drills around self-ruled Taiwan and warned of war over the US-backed island following the inauguration of President Lai Ching-te, who Beijing has described as a 'dangerous separatist'.

'The Chinese People's Liberation Army has always been an indestructible and powerful force in defence of the unification of the motherland, and it will act resolutely and forcefully at all times to curb the independence of Taiwan and to ensure that it never succeeds in its attempts,' Dong told the forum on Sunday.

'Whoever dares to split Taiwan from China will be crushed to pieces and suffer his own destruction.'

On the South China Sea, which China claims almost entirely and where it has been involved in confrontations with Philippine vessels, Dong warned of 'limits' to Beijing's restraint.

'China has maintained sufficient restraint in the face of rights infringements and provocation, but there are limits to this,' Dong said.

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[Saif]

China's exports grow 7.6pc in May, beating expectations despite trade tensions

China's exports in May grew at their fastest pace in more than a year despite trade tensions, though imports fell short of analyst expectations, according to customs data released Friday. Exports jumped 7.6% in May from the same month last year to $302.35 billion, rising at the fastest pace since

thefinancialexpress.com.bd

China's exports grow 7.6pc in May, beating expectations despite trade tensions
Published :
Jun 07, 2024 15:38
Updated :
Jun 07, 2024 15:38

China's exports in May grew at their fastest pace in more than a year despite trade tensions, though imports fell short of analyst expectations, according to customs data released Friday.
Exports jumped 7.6% in May from the same month last year to $302.35 billion, rising at the fastest pace since April 2023. Imports rose by 1.8% to $219.73 billion, missing estimates of about 4.0% growth.

The uptick in exports is also partly due to a lower base in the same period last year, when exports declined 7.5%.

In comparison, exports grew by 1.5% in April compared to the same period last year while April imports rose by 8.4%.

The strong exports caused China's trade surplus to widen to $82.62 billion, up from April's $72.35 billion.

The growth in exports comes as China faces escalated trade tensions with the US and Europe. The US is ramping up tariffs on Chinese-made electric cars while Europe is considering levying similar tariffs.

"Foreign tariffs are unlikely to immediately threaten exports; if anything, they may boost exports at the margin as firms speed up shipments to front-run the duties." said Zichun Huang of Capital Economics in a note.

Huang also said that exports would be supported by a weaker real effective exchange rate.

"Import volumes were little changed last month, but they will probably rise soon, with increased government spending supporting the import-intensive construction sector," she said.

Factory activity in China slowed more than expected in May, according to an official survey released last week.

The manufacturing purchasing managers index from the China Federation of Logistics and Purchasing fell to 49.5 from 50.4 in April on a scale up to 100 where 50 marks the break between expansion and contraction.

China has struggled to bounce back after the Covid-19 pandemic, as it grapples with weaker demand globally after the US Federal Reserve and other central banks raised interest rates to counter inflation. A slump in China's property sector also is weighing on growth.

China has set a target of around 5.0% for economic growth this year, an ambition that will require more policy support, economists say.​

 

[Saif]

A stable China will provide a "solid foundation" for foreign companies to develop in China

China has released its official economic performance for April, The added value of industrial enterprises above designated size grew by 6.7% year-on-year, 2.2 percentage points higher than that in the previous month. The expected index of enterprise production and operation activities remained in a

thefinancialexpress.com.bd

A stable China will provide a "solid foundation" for foreign companies to develop in China
LIU QING
Published :
Jun 12, 2024 11:00
Updated :
Jun 12, 2024 11:00

China has released its official economic performance for April, The added value of industrial enterprises above designated size grew by 6.7% year-on-year, 2.2 percentage points higher than that in the previous month. The expected index of enterprise production and operation activities remained in a relatively high boom range; Business activity in the services sector has been in the boom zone for four consecutive months... A series of data has outlined an upward curve, indicating that China's economy is running smoothly, continuing its upward trend, and positive factors are accumulating.

For business, the market means profit. How is China's hyperscale market doing? From January to April, the total retail sales of consumer goods increased by 4.1% year-on-year, and hot spots such as digital consumption and cultural and travel consumption added new impetus to the recovery of the consumer market. During the same period, online retail sales of physical goods increased by 11.1% year-on-year, demonstrating the vitality of the world's second largest online retail market. During the Qingming Holiday in early April, the number of domestic tourism trips and the travel expenditure of domestic tourists increased by 11.5% and 12.7% respectively compared with the same period in 2019. It is the first time since the coronavirus outbreak that Chinese tourists have spent more per capita on holiday travel than in 2019, indicating that consumption in the world's second-largest economy is recovering.

When we look at a country's economy, we also need to see the strength and resilience of its development, which mainly comes from the impetus of innovation. As China strives to develop new quality productive forces, new growth drivers are taking shape at a faster pace. In April, the value added of equipment manufacturing industry above designated size and high-tech manufacturing industry accounted for a continuous increase in the proportion of all planned industries; From January to April, the year-on-year growth rate of investment in manufacturing technology transformation and high-tech industry was faster than that of all investment. From the perspective of products, in April, the output of 3D printing equipment, new energy vehicles, and integrated circuit products increased by more than 30% year-on-year. For foreign companies, China's development of new quality productive forces has brought more room for open cooperation. Agustin Pederoni, general manager of Bridgestone (China) Investment Co., LTD., a Japanese tire brand, said that the company will invest 560 million yuan in the Chinese market in the next three years, focusing on strengthening the construction of production bases to meet the needs of the rapid development of China's new energy vehicle industry.

At the same time, China's foreign trade performance has also brought warmth to the world. China's imports and exports of goods rose 8 per cent year on year in April. The scale of imports and exports from January to April reached a record high in the same period. In terms of exports, the export advantages of mechanical and electrical products continued to consolidate, including integrated circuits and automobiles, the export growth rate exceeded 20%, indicating that the internal structure of the Chinese economy continued to optimize. At a time when the global economic recovery is weak, China's import and export performance is more resilient than expected, boosting the confidence of foreign investment.

Liu Qing is a reporter at China Global Television Network（CGTN）​

 

[Saif]

China opens tit-for-tat anti-dumping probe into EU pork

China has opened an anti-dumping investigation into imported pork and its by-products from the European Union, a step that appears mainly aimed at Spain, the Netherlands and Denmark, in response to curbs on its electric vehicle exports. According to a Reuters report, the investigation announced by

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China opens tit-for-tat anti-dumping probe into EU pork
Published :
Jun 17, 2024 23:07
Updated :
Jun 17, 2024 23:07

China has opened an anti-dumping investigation into imported pork and its by-products from the European Union, a step that appears mainly aimed at Spain, the Netherlands and Denmark, in response to curbs on its electric vehicle exports.
According to a Reuters report, the investigation announced by China's commerce ministry on Monday will focus on pork intended for human consumption, such as fresh, cold and frozen whole cuts, as well as pig intestines, bladders and stomachs. The probe will begin on June 17.

It was prompted by a complaint submitted by the China Animal Husbandry Association on June 6 on behalf of the domestic pork industry, the ministry said.

Following the European Commission's June 12 announcement that it would impose anti-subsidy duties of up to 38.1 per cent on imported Chinese cars from July, global food companies have been on high alert for retaliatory tariffs from China.

Spain is the top supplier of pork to China and its pork producers group Interporc said they would fully cooperate with the investigation by Chinese authorities.

"The EU and China have plenty of time to reach agreements," Interporc said in a statement.

European pork producers should be able to keep exporting to China tariff-free while the investigation is underway, pending a decision and a tariff announcement by the Chinese side.

China's commerce ministry said that the investigation should be completed by June 17, 2025, but could be extended by another six months if required.

Lobby group Danish Agriculture& Food Council warned on Monday that the country's pork sector would be "hit incredibly hard" by any restrictions on sales to China.

Pork suppliers from South America, the United States and Russia could be among those gaining market share if Beijing restricts imports from the European Union.​

 

[Saif]

How can China’s Digital Silk Road facilitate metaverse education?

The DSR can make a significant contribution to advancing and broadening metaverse education.

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How can China's Digital Silk Road facilitate metaverse education?

VISUAL: FREEPIK

The "Digital Silk Road" (DSR) was introduced in 2015 by an official Chinese government white paper, as a component of Beijing's Belt and Road Initiative (BRI). The DSR represents China's strategy for enhancing information exchanges and digital collaboration with emerging nations. DSR support is allocated to enhance beneficial countries' networked communications, AI capabilities, cloud computing, e-commerce, mobile financial services (MFS), technological surveillance, smart cities, and high-tech sectors, among others. Around 40 countries, including a majority of the world's developing nations, have already signed Memorandums of Understanding (MoU) in the DSR. The expanding reach of the DSR offers a chance to influence the technological initiatives of multiple nations, including the advancement of innovative educational systems like metaverse education.

A metaverse framework for education offers students the opportunity to go beyond reading and experience the facts and details hands-on. Metaverse technologies hold immense promise in revolutionising educational settings, lifting skilled trades, and opening up novel avenues for lifelong learning. The metaverse has the potential to transform the world into a virtual global school, however, there are significant challenges to adopting metaverse education, such as a lack of technology architecture and network infrastructure, and a dearth of learning management systems. Hence the DSR can make a significant contribution to advancing and broadening metaverse education by improving digital infrastructure, promoting technical cooperation, and enabling access to proficient educational materials.

The DSR prioritises the expansion of broadband networks, including optic fibre and 5G technologies, to accommodate the high velocity of data transfer needed for metaverse education. Furthermore, the allocation of resources towards cloud infrastructure facilitates the efficient storage and analysis of substantial volumes of data, which are crucial for creating engaging educational experiences within the metaverse. By committing to technical surveillance, Chinese technology firms can facilitate the broad accessibility of cost-effective virtual reality (VR) and augmented reality (AR) devices, hence expanding access to these technologies to prospective students and educational institutions.

The DSR's growth may provide a variety of educational content from other cultures and places to the metaverse, enhancing inclusivity and depth in the learning process. Students may get insights into many cultures via immersive educational programs provided by metaverse education. DSR can help with more topics and customise learning methods for diverse learning styles and preferences via metaverse education. Through professional growth and learning, the DSR may help students employ metaverse technology in real-world learning. The primary aim of DSR-supported metaverse education is to minimise the digital divide by introducing modern digital technology to underprivileged regions. This might ensure that students from all socioeconomic backgrounds have access to excellent education, which is in line with Sustainable Development Goal 4 (Quality Education).

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[Saif]

US lawmakers meet Tibet’s Dalai Lama

A group of US lawmakers who met the Dalai Lama in India yesterday said they would not allow China to influence the choice of his successor, comments expected to anger Beijing, which calls the exiled Tibetan spiritual leader a separatist.

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US lawmakers meet Tibet's Dalai Lama
Pressure China on talks

A group of US lawmakers who met the Dalai Lama in India yesterday said they would not allow China to influence the choice of his successor, comments expected to anger Beijing, which calls the exiled Tibetan spiritual leader a separatist.

The remarks come as Washington and Beijing seek to steady rocky ties while India pushes China to secure lasting peace on their disputed Himalayan frontier, four years after a military clash strained ties.

The lawmakers also signalled that Washington would pressure Beijing to hold talks with Tibetan leaders, stalled since 2010, to resolve the Tibet issue, with a bill they said President Joe Biden would sign soon.

Although Washington recognises Tibet as a part of China, the bill appears to question that position and any change would be a major shock to Beijing, analysts said.

The bipartisan group of seven, led by Michael McCaul, a Republican representative from Texas, who also chairs the House foreign affairs committee, met the Nobel peace laureate at his monastery in the northern Indian town of Dharamsala.

"It is still my hope that one day the Dalai Lama and his people will return to Tibet in peace," McCaul told a public reception after the meeting.​

 

[Saif]

EU slaps Chinese electric cars with tariffs of up to 38%

The European Union on Thursday slapped extra provisional duties of up to 38 percent on Chinese electric car imports because of “unfair” state subsidies, despite Beijing’s warnings the move would unleash a trade war.

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EU slaps Chinese electric cars with tariffs of up to 38%

People are seen next to a sport utility vehicle of Chinese automaker BYD at the Geneva International Motor Show in Geneva, Switzerland. Electric car producers in China that cooperated with the EU will face a tariff of 20.8 percent, while those that did not cooperate would be subject to a 37.6 percent duty. Photo: AFP/FILE

The European Union on Thursday slapped extra provisional duties of up to 38 percent on Chinese electric car imports because of "unfair" state subsidies, despite Beijing's warnings the move would unleash a trade war.

Brussels launched an investigation last year into Chinese electric vehicle manufacturers to probe whether state subsidies were unfairly undercutting European automakers.

Since announcing the planned tariff hike last month -- on top of current import duties of 10 percent -- the European Commision has begun talks with Beijing to try to resolve the issue, with China threatening retaliation.

"Our investigation... concluded that the battery electric vehicles produced in China benefit from unfair subsidisation, which is causing a threat of economic injury to the EU's own electric car makers," the EU's trade chief Valdis Dombrovskis said.

In response, the commission said it has imposed provisional duties on Chinese manufacturers including 17.4 percent for market major BYD, 19.9 percent for Geely and 37.6 percent for SAIC.

The rates were adjusted slightly downwards for Geely and SAIC, from an initially-announced 20 percent and 38.1 percent, after further information provided by "interested parties", it said.

They will kick in from Friday, with definitive duties to take effect in November for a period of five years, pending a vote by the EU's 27 member states.

Electric car producers in China that cooperated with the EU will face a tariff of 20.8 percent, while those that did not cooperate would be subject to a 37.6 percent duty.

The move comes despite talks between Chinese and EU trade officials on June 22, but Brussels will continue "to engage intensively with China on a mutually acceptable solution", trade chief Dombrovskis said.

"Any negotiated outcome to our investigation must clearly and fully address EU concerns and be in respect of WTO rules," he said in a statement.

Beijing has already signalled its readiness to retaliate by launching an anti-dumping probe last month into pork imports, threatening Spanish exports. Chinese media suggest Beijing will trigger further probes.

Chinese officials have also railed against probes targeting state subsidies in the green tech sector including wind turbines and solar panels.

"It is plain for all to see who is escalating trade frictions and instigating a 'trade war'," a spokesperson for the Chinese commerce ministry said on June 21.

The United States has already hiked customs duties on Chinese electric cars to 100 percent, while Canada is considering similar action.

But Brussels faces a delicate balancing act as it seeks to defend Europe's auto industry -- the jewel in its industrial crown with iconic brands such as Mercedes -- while avoiding a showdown with China and meeting its targets for slashing carbon emissions.

The EU aims to get more Europeans driving electric vehicles as it plans to outlaw the sale of new fossil fuel-powered cars from 2035.

Chinese-made vehicles' market share in EU electric car sales climbed from around three percent to more than 20 percent in the past three years, according to the European Automobile Manufacturers' Association.

Chinese brands account for around eight percent of that share, it said.

Germany's Kiel Institute for the World Economy, alongside Austrian institutes, predicted the provisional higher taxes would reduce vehicle imports from China by 42 percent. They added that electric car prices could rise by an average of 0.3 to 0.9 percent in the EU.

Germany, a significant trade partner to China, is unhappy about the EU's move. German auto manufacturers fear any retaliation could hurt their activities in China.

Germany's Vice Chancellor Robert Habeck visited Beijing last month on an 11th hour mission to find a way out of a damaging trade war.

But Germany's moves to appease China, like reportedly offering a compromise to lower tariffs to 15 percent, were described by some in the automotive industry as a stunt.

In contrast, French auto makers have welcomed the tariffs to level the playing field.

Electric automaker Tesla, owned by tech billionaire Elon Musk, is the only company that has asked Brussels for its own duty rate calculated based on evidence it has submitted.​

 

[Saif]

China’s BYD opens EV plant in Thailand

China’s electric vehicle giant BYD opened a factory in Thailand on Thursday, continuing its international expansion despite a market slowdown and hours before the European Union was due to impose swingeing tariffs on Chinese EV firms.

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China's BYD opens EV plant in Thailand

China's electric vehicle giant BYD opened a factory in Thailand on Thursday, continuing its international expansion despite a market slowdown and hours before the European Union was due to impose swingeing tariffs on Chinese EV firms.

The plant in Rayong, an industrial area southeast of Bangkok, will be able to build up to 150,000 vehicles a year, according to the company, which dominates its domestic market.

Wang Chuanfu, Shenzhen-based BYD's chief executive, said production would initially focus on full electric vehicles and later expand to include plug-in hybrids, which combine a conventional engine with an electric motor.

"BYD Thailand plant has an annual capacity of 150,000 vehicles, including the four major processes of vehicle and parts production, and will create about 10,000 jobs," Wang said at an opening ceremony.

Thailand has long been a major assembly hub for Japanese car makers including Toyota and Honda, but is now seeking to shift production away from conventional vehicles and towards EVs.

The kingdom has offered substantial tax breaks for companies as it aims for 30 percent of its car production to be EVs by 2030. BYD overtook Elon Musk's Tesla in the fourth quarter of 2023 to become the world's top seller of electric vehicles.

Tesla reclaimed top spot in the first quarter of this year, but BYD is bullish about its expansion, insisting last month it would press ahead with a second factory in the European Union.

The Chinese automaker recorded a record annual profit of 30 billion yuan ($4.1 billion) last year, but in April reported lower than expected revenue for the first quarter of 2024.

BYD has faced a bitter price war in China, where a staggering 129 EV brands are slugging it out -- with only 20 achieving a domestic market share of one percent or more, according to Bloomberg.

China has led the global shift to electric vehicles, with almost one in three cars on its roads set to be electric by 2030, according to the International Energy Agency's annual Global EV Outlook. But European regulators have raised concerns about what they say is "overcapacity" created by excessive state subsidies.

Seeking to protect European manufacturers from cheaper Chinese imports, Brussels has proposed a provisional hike of tariffs on Chinese manufacturers: 17.4 percent for BYD, 20 percent for Geely and 38.1 percent for SAIC -- in addition to the current 10 percent import duty.

EU and Chinese trade chiefs held talks last weekend in a bid to avert a bitter trade war, but the tariffs are set to come into force on Thursday. But while they are high, the EU tariffs are significantly lower than the 100 percent rate the United States imposed from last month on Chinese electric cars.​

 

[Saif]

Xi and Putin set out ambitions for Eurasian security club

China's President Xi Jinping and Russia's Vladimir Putin pressed their case on Thursday for closer security, political and economic cooperation between countries of the vast Eurasian region as a counterweight to Western alliances. They were speaking on the second and final day of a summit in the K

thefinancialexpress.com.bd

Xi and Putin set out ambitions for Eurasian security club
REUTERS
Published :
Jul 04, 2024 21:49
Updated :
Jul 04, 2024 21:49

SCO Secretary-General Zhang Ming, Iranian Interim President Mohammad Mokhber, Kyrgyz President Sadyr Japarov, Pakistani Prime Minister Shehbaz Sharif, Uzbek President Shavkat Mirziyoyev, Chinese President Xi Jinping, Kazakh President Kassym-Jomart Tokayev, Russian President Vladimir Putin, Tajik President Emomali Rakhmon, Belarusian President Alexander Lukashenko, Indian Foreign Minister Subrahmanyam Jaishankar and Director of the SCO Regional Anti-Terrorist Structure (RATS) executive committee Ruslan Mirzayev take part in a photo ceremony at Shanghai Cooperation Organization (SCO) summit in Astana, Kazakhstan July 4, 2024.
SCO Secretary-General Zhang Ming, Iranian Interim President Mohammad Mokhber, Kyrgyz President Sadyr Japarov, Pakistani Prime Minister Shehbaz Sharif, Uzbek President Shavkat Mirziyoyev, Chinese President Xi Jinping, Kazakh President Kassym-Jomart Tokayev, Russian President Vladimir Putin, Tajik President Emomali Rakhmon, Belarusian President Alexander Lukashenko, Indian Foreign Minister Subrahmanyam Jaishankar and Director of the SCO Regional Anti-Terrorist Structure (RATS) executive committee Ruslan Mirzayev take part in a photo ceremony at Shanghai Cooperation Organization (SCO) summit in Astana, Kazakhstan July 4, 2024. Photo : Reuters/Turar Kazangapov

China's President Xi Jinping and Russia's Vladimir Putin pressed their case on Thursday for closer security, political and economic cooperation between countries of the vast Eurasian region as a counterweight to Western alliances.

They were speaking on the second and final day of a summit in the Kazakh capital Astana of the Shanghai Cooperation Organisation (SCO), a club launched in 2001 by Russia, China and Central Asian states and now including India, Iran and Pakistan.

"SCO members should consolidate unity and jointly oppose external interference in the face of the real challenges of interference and division," Xinhua news agency quoted Xi as saying, warning against the West's "Cold War mentality".

President Putin, in his address to the SCO, reiterated Russia's call for "a new architecture of cooperation, indivisible security and development in Eurasia, designed to replace the outdated Eurocentric and Euro-Atlantic models, which gave unilateral advantages only to certain states".

He once again blamed the West for the war in Ukraine and said Russia was ready to freeze the conflict if Kyiv and its backers accepted Moscow's terms for talks.

Putin said last month the proposed new Eurasian security pact should be open to all countries across the region, including current NATO members. But the aim, he said, should be to gradually remove all external military presence from Eurasia, a clear reference to the United States.

The SCO nations represent new key buyers of Russian commodities such as oil and gas, as Western sanctions imposed over the Ukraine war have forced Moscow to pivot towards Asia.

'MULTI-POLAR WORLD'

Putin also hailed on Thursday the increasing use of national currencies - instead of the dollar - in trade between SCO countries and called for the creation of a new payment system within the group.

Western sanctions have left Moscow cut off from traditional payment systems such as SWIFT, while hundreds of billions of dollars in Russian foreign reserves remain frozen.

"The multi-polar world has become reality," Putin said. "More and more countries support a fair world order and are ready to vigorously defend their legal rights and traditional values."

Separately, India's Foreign Minister Subrahmanyam Jaishankar met his Chinese counterpart Wang Yi on the sidelines of the SCO gathering and agreed to step up talks to resolve issues on their border which have soured ties since an armed clash in 2020.​

 

[Saif]

China, Russia to counter extra-regional forces in SE Asia

China and Russia’s foreign ministers met their Southeast Asian counterparts Friday after vowing to counter ‘extra-regional forces’, a day before Washington’s top...

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China, Russia to counter extra-regional forces in SE Asia
Agence France-Presse . Vientiane 27 July, 2024, 01:35

China and Russia's foreign ministers met their Southeast Asian counterparts Friday after vowing to counter 'extra-regional forces', a day before Washington's top diplomat was due to arrive.

Wang Yi and Sergei Lavrov were attending a three-day meeting of the 10-member Association of Southeast Asian Nations bloc in the Laos capital Vientiane.

Both held talks with counterparts from the bloc, while Wang also met with new British foreign secretary David Lammy.

On Thursday Wang and Lavrov agreed to work together in 'countering any attempts by extra-regional forces to interfere in Southeast Asian affairs', according to Moscow's foreign ministry.

They also discussed implementing 'a new security architecture' in Eurasia, Lavrov said in a statement, without elaborating.

According to a readout from Chinese state news agency Xinhua, Wang said Beijing was 'ready to work with Russia to... firmly support each other, safeguard each other's core interests'.

China is a close political and economic ally of Russia, and NATO members have branded Beijing a 'decisive enabler' of Moscow's war in Ukraine.

US Secretary of State Antony Blinken is expected to arrive in Vientiane on Saturday morning for talks with ASEAN foreign ministers.

Blinken has made Washington's alliances in Asia a top foreign policy priority, with the aim of 'advancing a free and open' Indo-Pacific — a veiled way of criticising China and its ambitions.

But Blinken shortened his Asia itinerary by a day to be present for Thursday's White House meeting between Biden and Israeli Prime Minister Benjamin Netanyahu.

Wang and Blinken will meet in Laos, a spokeswoman for Beijing's foreign ministry said, to 'exchange views on issues of common concern'.

On Friday Wang met ASEAN foreign ministers and hailed Beijing's deepening economic ties with the region.

For the customary joint handshake, Wang stood next to Myanmar's representative Aung Kyaw Moe, permanent secretary to the foreign affairs ministry.

The ASEAN bloc has banned Myanmar's junta from high-level meetings over its 2021 coup and crackdown on dissent that have plunged the country into turmoil.

Lavrov also met ASEAN counterparts at the venue in Vientiane but did not take questions from journalists

ASEAN ministers are expected to issue a joint communique after the three-day meeting.

One diplomatic source said the joint communique is being held up by lack of consensus over the wording of the paragraphs on the Myanmar conflict and disputes in the South China Sea.

Beijing claims the waterway — through which trillions of dollars of trade passes annually — almost in its entirety despite an international court ruling that its assertion has no legal basis.​

 

[Saif]

Myanmar airstrikes on border hospital near China kill 10

Myanmar military airstrikes hit a hospital in a city controlled by an ethnic minority armed group close to the China border killing 10 people, local media...

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Myanmar airstrikes on border hospital near China kill 10
Agence France-Presse . Bangkok 03 August, 2024, 01:21

Myanmar military airstrikes hit a hospital in a city controlled by an ethnic minority armed group close to the China border killing 10 people, local media reported on Friday.

Military planes carried out at least two air strikes on Laukkai city, normally home to some 25,000 people, late on Thursday night, a resident told AFP, requesting anonymity for security reasons.

Local media quoted one resident as saying 10 civilians were killed in the strike.

Myanmar's northern Shan state has been rocked by fighting since late June when an alliance of ethnic minority armed groups renewed an offensive against the military along a major trade highway to China.

The Myanmar National Democratic Alliance Army (MNDAA) group have held Laukkai since January after more than 2,000 junta troops surrendered there in one of the military's biggest defeats in decades.

MNDAA spokesman Li Jiawen told AFP a military airstrike had hit a hospital in Laukkai, but he had no information yet on casualties.

The junta has been approached for comment.

The junta has bombed Laukkai several times in recent weeks after the MNDAA renewed its offensive in northern Shan state, shredding a Beijing-brokered ceasefire.

Pictures taken on Thursday and shared with AFP by the Laukkai resident showed deserted streets.

In recent days MNDAA fighters have entered the town of Lashio, also in northern Shan state and home to the military's northeastern command.

Fighting was ongoing in Lashio on Friday, a military source told AFP, requesting anonymity to talk to the media.

Local media, citing a local resident, reported that MNDAA fighters had entered a military hospital in Lashio and killed an unspecified number of patients and medical staff.

AFP was unable to reach people on the ground in Lashio or confirm the report.

Dozens of civilians have been killed or wounded in the recent fighting in Shan state according to the junta and local rescue groups.

Neither the junta nor the ethnic alliance have released figures on their own casualties.

Myanmar's borderlands are home to myriad ethnic armed groups who have battled the military since independence from Britain in 1948 for autonomy and control of lucrative resources.

Some have given shelter and training to newer "People's Defence Forces" (PDFs) that have sprung up to battle the military after the coup in 2021.

China is a major ally and arms supplier to the junta, but analysts say it also maintains ties with armed ethnic groups in Myanmar that hold territory near its border.​

 

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China’s stuttering recovery darkens global corporate growth outlook

Global burger chains to car manufacturers are increasingly feeling the pinch from a faltering recovery in the world’s No. 2 economy, China, and are strapping in for a bumpy ride ahead.

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China's stuttering recovery darkens global corporate growth outlook

A woman leaves a cafe of Starbucks Coffee in Beijing, China. Coffee chain Starbucks, carmaker General Motors and technology firms hurt by curbs on exports to China are among those that have sounded the alarm on weakness in the nation. Photo: REUTERS/FILE

Global burger chains to car manufacturers are increasingly feeling the pinch from a faltering recovery in the world's No. 2 economy, China, and are strapping in for a bumpy ride ahead.

A protracted downturn in the property market and high levels of job insecurity have knocked the wind out of a fragile recovery in China, a global trading powerhouse, and the effects of its slowdown can be felt across borders.

Coffee chain Starbucks, carmaker General Motors and technology firms hurt by curbs on exports to China are among those that have sounded the alarm on weakness in the nation. The Chinese government's stimulus measures have so far failed to boost consumption, and the overleveraged property market has made consumers less likely to spend.

"It's a difficult market right now. And frankly, it's unsustainable, because the amount of companies losing money there cannot continue indefinitely," General Motors CEO Mary Barra said last week as the automaker's division in China shifted from being a profit engine to a drain on its finances.

China's $18.6 trillion economy grew more slowly than expected in the second quarter, and cautious households are building up savings and paying off debts. Retail sales growth sank to an 18-month low in June, and businesses cut prices on everything from cars to food to clothes.

In a bid to stem the rot, China outlined stimulus directed at consumers last month to support equipment upgrades and consumer goods trade-ins, but that has not allayed concerns.

US stocks plummeted for second straight session on Friday, and the Nasdaq confirmed it was in correction territory, after a soft jobs report stoked fears of an oncoming recession.

Some analysts have warned that barring a structural shift that gives consumers a greater role in the economy, the current path fuels risks of a prolonged period of near-stagnation and persistent deflation threats.

"There is a deep concern that Beijing is not introducing the kind of stimulus that helps broaden the economic base," said Quincy Krosby, chief global strategist for LPL Financial.

"It's becoming more difficult for US companies to look to the Chinese market as a reliable partner."

China remained a drag on Apple last quarter. The iPhone maker's sales declined a much steeper-than-expected 6.5 percent in the country, which accounts for a fifth of its total revenue.

French cosmetics giant L'Oreal said the Chinese beauty market will remain slightly negative into the second half of 2024 with no visible improvement in sentiment.

Other consumer companies' sales have been hurt as well, including Starbucks , McDonald's and Procter & Gamble, while soft domestic travel demand prompted a revenue warning from Marriott.

The sluggish growth was also evident in underwhelming results from luxury goods makers LVMH and Gucci-owner Kering and profit warnings from Burberry and Hugo Boss.

"The world was surprised at how weak China was economically as this year unfolded," said Marc Casper, CEO of medical equipment maker Thermo Fisher.

Meanwhile, foreign automakers from Tesla to BMW, Audi and Mercedes, are locked in an intense price war in China after ceding market share to domestic EV makers, led by BYD, who offer high-tech, low-cost models.

To be sure, the MSCI World with China Exposure Index , which tracks 52 companies with high revenue exposure to China, is up 11.6 percent this year, not far off a 12 percent rise in MSCI's broad gauge of global stocks.

However, most of the China-focused index's performance is thanks to a surge in semiconductor stocks, including Broadcom and Qualcomm, which have benefited from AI-driven demand.

Mounting Sino-US trade tensions and certain domestic policies have added to multinational companies' woes.

Beijing's anti-corruption campaign that began last year has caused disruptions that partly prompted GE HealthCare to lower its revenue growth forecast and sparked concerns over sales of Merck's Gardasil vaccine.

Meanwhile, tighter US export curbs on sharing high-end chip technology with China are impeding chipmakers from serving one of the largest markets for semiconductors.

Qualcomm said it took a revenue hit from the US curbs on exports to China, overshadowing its otherwise upbeat forecast on Wednesday.

Analysts said the pressures are unlikely to ease soon.

"It has been a surprise that (the slowdown) has lasted so long," said Stuart Cole, chief macroeconomist at Equiti Capital.

"Once the Covid restrictions were lifted the general expectation was that China would bounce back. But the Chinese pace of expansion we saw previously will not be seen any time soon."​

 

[Saif]

China issues plan to boost household consumption

China has issued a set of directives aimed at boosting household consumption, a weakness weighing on growth in the world’s second-largest economy, with the plan targeting sectors including child and elder care, and food and beverage...

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China issues plan to boost household consumption
Agence France-Presse . Beijing 04 August, 2024, 22:21

A woman buys food at a stall at the Dacheng Road Night Market in Wuhan in central China's Hubei province on August 1. | AFP photo

China has issued a set of directives aimed at boosting household consumption, a weakness weighing on growth in the world's second-largest economy, with the plan targeting sectors including child and elder care, and food and beverage.

Leaders including president Xi Jinping pledged last month to help boost domestic consumption and ease pressure on China's ailing property sector, following a gathering of the ruling Communist Party's top brass.

The State Council, China's cabinet, published a list of 20 general directives on its website on Saturday evening, constituting a general roadmap for ministries and local authorities as the economy recovers after the lifting of strict pandemic measures at the end of 2022 that had hindered growth.

The plan, which does not include proposed budgets, urges authorities to 'increase the supply of care services for the elderly', a sector with growth potential in a country with an ageing population.

It also calls for the development of childcare services, as fewer young people opt to have babies due to the high cost of education and lack of social benefits.

Income tax reductions are also planned to offset the cost of caring for children under three and senior citizens, according to the document.

Beijing also pledged to ensure that eligible small businesses in the service sector can benefit from greater financial support, particularly from banks.

The plan calls for more food-themed festivals to be held, and for the promotion of street food 'snacks' — popular with locals — as well as pledges to encourage major foreign companies in the food and beverage industry to open their first outlets in China.

China is aiming for GDP growth of 'around 5 per cent' this year, but second-quarter growth slowed sharply to 4.7 per cent year-on-year, according to official figures published last month.

Its growth has been battered by a long-running debt crisis in the property market, which accounts for a quarter of gross domestic product.​

 

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China youth unemployment jumped to 17.1% in July

Youth unemployment in China ticked up to 17.1 percent in July, official figures showed, the highest level this year as the world’s second-largest economy faces mounting headwinds.

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China youth unemployment jumped to 17.1% in July

People are seen attending a job fair in Beijing, China. Nearly 12 million students graduated from Chinese universities this June, heightening competition in an already tough job market. Photo: AFP/FILE

Youth unemployment in China ticked up to 17.1 percent in July, official figures showed, the highest level this year as the world's second-largest economy faces mounting headwinds.

China is battling soaring joblessness among young people, a heavily indebted property sector and intensifying trade issues with the West.

Chinese Premier Li Qiang, who is responsible for economic policy, on Friday called for struggling companies to be "heard" and "their difficulties truly addressed", according to the state news agency Xinhua.

The unemployment rate among 16- to 24-year-olds released Friday by the National Bureau of Statistics (NBS) was up markedly from June's 13.2 percent.

The closely watched metric peaked at 21.3 percent in June of 2023, before authorities suspended publication of the figures and later changed their methodology to exclude students.

Nearly 12 million students graduated from Chinese universities this June, heightening competition in an already tough job market and likely explaining July's sharp increase in joblessness.

In May, President Xi Jinping said countering youth unemployment must be regarded as a "top priority".

Among 25- to 29-year-olds, the unemployment rate stood at 6.5 percent for July, up from the previous month's 6.4 percent.

For the workforce as a whole, the unemployment rate was 5.2 percent.

However, the NBS figures paint an incomplete picture of China's overall employment situation, as they take only urban areas into account.

The new unemployment figures come on the heels of other disappointing economic data from Beijing, including figures showing dampened industrial production, despite recent government measures aimed at boosting growth.

Industrial production growth weakened in July, with the month's 5.1 percent expansion down from June's 5.3 percent and falling short of analyst predictions.

China's major cities also recorded another decline in real estate prices last month, a sign of sluggish demand.

Demand for bank loans also contracted for the first time in nearly 20 years, according to official figures published earlier this week.

International challenges are also mounting, with the European Union and the United States increasingly imposing trade barriers to protect their markets from low-cost Chinese products and perceived unfair competition.​

 

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China targets dairy imports from EU in latest barb in trade row

Beijing on Wednesday launched a probe into EU subsidies of some dairy products imported into China, the day after the bloc said it planned to impose five-year import duties of up to 36 percent on Chinese electric vehicles (EVs).

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China targets dairy imports from EU in latest barb in trade row

A staff member arranges cartons of milk on refrigerator shelves at a supermarket in Beijing, China. The EU exported 1.68 billion euros ($1.87 billion) of dairy products to China last year. Photo: REUTERS/FILE

Beijing on Wednesday launched a probe into EU subsidies of some dairy products imported into China, the day after the bloc said it planned to impose five-year import duties of up to 36 percent on Chinese electric vehicles (EVs).

The investigation, which marks the latest barb in a trade standoff between the two, will cover a range of items including fresh cheese and curd, blue cheese, and some milk and cream, Beijing's commerce ministry said.

"The Ministry of Commerce has decided to initiate an anti-subsidy investigation on imported relevant dairy products originating in the European Union from August 21, 2024," the ministry said in a statement on its website.

Officials said they had received an application from the Dairy Association of China for an anti-subsidy probe into European products on July 29, and held consultations with the European Union on August 14.

Beijing said the investigation would cover EU subsidy schemes implemented in the year up to the end of March 2024, and damages to China's domestic industry between the start of 2020 and the end of March this year.

The probe takes aim at major pillars of the bloc's setup including the common agricultural policy as well as national subsidy plans in Ireland, Austria, Belgium, Italy, Croatia, Finland, Romania and the Czech Republic. It will last one year but may be extended for up to six months "under special circumstances", the ministry said.

The EU exported 1.68 billion euros ($1.87 billion) of dairy products to China last year, according to figures from the European Commission's Directorate-General for Agriculture and Rural Development, which cited Eurostat.

The EU Chamber of Commerce in China said the investigation "should not be considered a surprise" in the wake of the bloc's own imposition of import tariffs on Chinese EVs.

"Regrettably, the use of trade defense instruments by one government is increasingly being responded to seemingly in kind by the recipient government," the chamber said in a statement.

It said it "will be monitoring the ongoing investigation and hopes that it will be conducted fairly and transparently", adding that it expected its affected member firms to cooperate.

The news comes a day after the European Commission said it planned to impose five-year import duties on Chinese EVs, unless Beijing can offer an alternative solution to a damaging trade row over state subsidies.

Brussels last month hit EVs imported from China with hefty provisional tariffs -- on top of current duties of 10 percent -- after an anti-subsidy probe found they were unfairly undermining European rivals.

China said this month it had filed an appeal with the World Trade Organization (WTO) over the tariffs, saying the EU's decision "lacks a factual and legal basis".

Its foreign ministry has kept up a steady drumbeat of opposition to the measures, on Wednesday slamming them as a "typical protectionist and politically driven act".

"It ignores objective facts, disregards (WTO) rules, goes against the historical trend, (and) damages the EU's green transformation process and global efforts to address climate change," foreign ministry spokeswoman Mao Ning said.

She added that the EU "will only harm itself" with the imposition of tariffs.

Brussels has sought to tread carefully as it tries to defend Europe's crucial auto industry and pivot towards green growth while averting a showdown with Beijing.

But it has launched further investigations into Chinese subsidies for a range of transport and green energy firms.

Beijing, for its part, has begun its own probes into imported European brandy and pork.​

 

[Saif]

A new era in China-Africa cooperation

AS THE 2024 Summit of the Forum on China-Africa Cooperation approaches, the stage is set for a new chapter in Sino-African relations. From September 4 to 6, Beijing will host this pivotal gathering, where strategic partnerships between China and Africa are expected to deepen significantly. For...

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A new era in China-Africa cooperation
Imran Khalid 01 September, 2024, 00:00

A motorist rides past a sign of the Forum on China-Africa Cooperation, scheduled to be held in September 4-6, in Beijing on August 30. | Agence France-Presse/Adek Berry

AS THE 2024 Summit of the Forum on China-Africa Cooperation approaches, the stage is set for a new chapter in Sino-African relations. From September 4 to 6, Beijing will host this pivotal gathering, where strategic partnerships between China and Africa are expected to deepen significantly. For China, this summit is more than a diplomatic event. It is a commitment to fostering long-term relationships that promote shared prosperity and address global challenges.

Observers across the African continent view this summit as a crucial opportunity to tackle significant issues, particularly the continent’s infrastructure funding gap, estimated by the African Development Bank to range between $130 billion and $170 billion annually. As Africa’s largest trading partner, China sees this partnership as essential not only for mutual benefits but also for the broader goal of sustainable development.

The summit will likely prioritise cooperation in education, infrastructure, healthcare and technology where collaboration can drive growth and innovation. African nations are keenly awaiting concrete commitments and actionable plans that translate into real progress. The outcomes of this summit could well shape the trajectory of Sino-African relations for years to come.

The Forum on China-Africa Cooperation, established in Beijing in October 2000, marked a moment in the relationship between China and Africa. Over the years, the forum has evolved into the bedrock of a lasting partnership, celebrated for its emphasis on practical, results-driven collaboration. From China’s perspective, this framework is a testament to its commitment to Africa’s sustainable development, focusing on infrastructure, human resource development and governance exchanges.

China’s journey over the past seven decades, characterised by innovation and progressive reforms, has not gone unnoticed by Africa. This model has increasingly resonated with global south countries, which see in China’s experience a roadmap for their own development. For China, the forum is not just diplomacy. It is a strategic alliance that reflects a mutual aspiration for progress. By fostering innovation and tailoring development strategies to unique contexts, this partnership offers a vision for a more interconnected and prosperous future.

China’s growing confidence on the global stage is deeply intertwined with its foreign policy objectives, particularly in fostering stronger ties with the global south. At the heart of this effort is the Forum on China-Africa Cooperation, a platform designed to elevate the traditional bond between Africa and China into a comprehensive, mutually beneficial partnership. Since its establishment, the forum has been instrumental in transforming rhetoric into action, delivering tangible benefits that resonate across both regions.

Between 2000 and 2023, Chinese lenders extended 1,306 loans worth $182.28 billion to 49 African governments and seven regional borrowers. Notably, 2023 saw a resurgence in Chinese lending with 13 new commitments totalling $4.61 billion across eight countries and two regional financial institutions. This marks the first increase in annual loan amounts to Africa since 2016 although it remains significantly below the high-water mark of the early Belt and Road Initiative years, when annual commitments exceeded $10 billion.

As China recalibrates its financial engagement with Africa, this uptick reflects a cautious revival of its investment strategy, signalling a strategic adjustment amid evolving global economic conditions. This strategic approach not only cements China’s role as a pivotal player in global development but also paves the way for deeper cooperation in the future.

In his 2021 FOCAC address in Dakar, Chinese president Xi Jinping charted a bold new course for China-Africa relations, resonating deeply with African leaders and citizens alike. His speech unveiled an ambitious blueprint for future collaboration, signaling China’s unwavering commitment to strengthening ties between the two regions. The Dakar conference resulted in a robust economic cooperation plan, skillfully attuned to the evolving dynamics of the global economy.

At the heart of this initiative lies the ‘China and Africa Vision 2035’, a strategic framework designed to bolster bilateral cooperation across key sectors. This vision prioritises health, poverty alleviation, agriculture, trade, digital innovation, green development, capacity building, cultural exchanges and peace and security.

Since the Dakar summit, notable progress has been made in these areas, with continued momentum expected as the forum’s agenda advances in Beijing. The Vision 2035 plan not only underscores China’s dedication to a mutually beneficial partnership but also reflects a broader strategy to navigate global economic shifts while promoting sustainable development.

Since the launch of the Belt and Road Initiative in 2013, Africa has reaped substantial benefits, largely driven by the active participation of Chinese private enterprises. These companies have emerged as pivotal players in forging a China-Africa community with a shared future, injecting much-needed momentum into the continent’s development. China’s strategy centres on infrastructure development, capital infusion and deploying skilled labor to dismantle growth barriers for African nations.

The impact is undeniable. In the past decade, China has enabled the construction of more than 6,000 kilometres of railways, 6,000 kilometres of road and nearly 20 ports across Africa. Landmark projects such as Kenya’s Standard Gauge Railway and the Addis Ababa-Djibouti Railway have not only enhanced Africa’s economic potential but also significantly strengthened regional connectivity, positioning the continent for sustained growth in the years to come.

As African nations convene for the forthcoming summit, the trajectory of the China-Africa partnership warrants thoughtful reflection. The Forum on China-Africa Cooperation has long served as the cornerstone of this relationship, providing a critical platform for policy alignment and joint initiatives. Meeting every three years, the forum has consistently delivered on substantial financial commitments, highlighted by a $40 billion pledge at the 2021 summit, aimed at bolstering infrastructure, agriculture, and manufacturing across Africa. The forum’s effectiveness is undeniable, with $155 billion of the $191 billion in promised loans implemented between 2006 and 2021.

Yet, this year’s summit unfolds in a challenging global landscape, marked by rising resistance to China from a US-led coalition. At the same time, Chinese companies have significantly impacted Africa’s energy sector, installing over 25GW of generation capacity, which represents more than 15 per cent of sub-Saharan Africa’s total. These investments have bolstered the region’s power infrastructure. This performance underscores the complexity of integrating large-scale Chinese energy projects into diverse African markets, highlighting both the substantial contributions.

In China’s grand global strategy, Africa’s economic value is evident, but its geopolitical importance is rapidly increasing. As Beijing strengthens economic ties with the continent, it simultaneously secures vital support in international forums, enhancing China’s ability to influence global diplomacy and security. This backing is crucial as China aims to challenge and redefine a world order it views as biased.

The 2024 summit, themed ‘Joining Hands to Advance Modernisation and Build a High-Level China-Africa Community with a Shared Future’, is poised to deepen these connections. This approach aligns with China’s broader geopolitical ambitions, potentially ushering in a new era of cooperation. If executed effectively, FOCAC could foster a sustainable and mutually beneficial partnership, reinforcing China’s strategic positioning on the global stage.​

 

[Saif]

African leaders in Beijing eyeing big loans, investment

African leaders descend on China’s capital this week, seeking funds for big-ticket infrastructure projects as they eye mounting great power competition over resources and influence on the continent...

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African leaders in Beijing eyeing big loans, investment
Agence France-Presse . Beijing 01 September, 2024, 22:29

African leaders descend on China’s capital this week, seeking funds for big-ticket infrastructure projects as they eye mounting great power competition over resources and influence on the continent.

China has expanded ties with African nations in the past decade, furnishing them with billions in loans that have helped build infrastructure but also sometimes stoked controversy by saddling countries with huge debts.

China has sent hundreds of thousands of workers to Africa to build its megaprojects, while tapping the continent’s vast natural resources including copper, gold, lithium and rare earth minerals.

Beijing has said this week’s China-Africa forum will be its largest diplomatic event since the Covid pandemic, with leaders of South Africa, Nigeria, Kenya and other nations confirmed to attend and dozens of delegations expected.

African countries were ‘looking to tap the opportunities in China for growth’, Ovigwe Eguegu, a policy analyst at consultancy Development Reimagined, told AFP.

China, the world’s number two economy, is Africa’s largest trading partner, with bilateral trade hitting $167.8 billion in the first half of this year, according to Chinese state media.

Beijing’s loans to African nations last year were their highest in five years, research by the Chinese Loans to Africa Database found. Top borrowers were Angola, Ethiopia, Egypt, Nigeria and Kenya.

But analysts said an economic slowdown in China has made Beijing increasingly reluctant to shell out big sums.

China has also resisted offering debt relief, even as some African nations have struggled to repay their loans — in some cases being forced to slash spending on vital public services.

Since the last China-Africa forum six years ago, ‘the world experienced a lot of changes, including Covid, geopolitical tension and now these economic challenges’, Tang Xiaoyang of Beijing’s Tsinghua University told AFP.

The ‘old model’ of loans for ‘large infrastructure and very rapid industrialisation’ is simply no longer feasible, he said.

The continent is a key node in Beijing’s Belt and Road Initiative, a massive infrastructure project and central pillar of Xi Jinping’s bid to expand China’s clout overseas.

The BRI has channelled much-needed investment to African countries for projects like railways, ports and hydroelectric plants.

But critics charge Beijing with saddling nations with debt and funding infrastructure projects that damage the environment.

One controversial project in Kenya, a $5 billion railway — built with finance from Exim Bank of China — connects the capital Nairobi with the port city of Mombasa.

But a second phase meant to continue the line to Uganda never materialised, as both countries struggled to repay BRI debts.

Kenya’s president William Ruto last year asked China for a $1 billion loan and the restructuring of existing debt to complete other stalled BRI projects.

The country now owes China more than $8 billion.

Recent deadly protests in Kenya were triggered by the government’s need ‘to service its debt burden to international creditors, including China’, said Alex Vines, head of the Africa Programme at London’s Chatham House.

In light of such events, Vines and other analysts expect African leaders at this week’s forum to seek not only more Chinese investment but also more favourable loans.

In central Africa, Western and Chinese firms are racing to secure access to rare minerals.

The continent has rich deposits of manganese, cobalt, nickel and lithium — crucial for renewable energy technology.

The Moanda region of Gabon alone contains as much as a quarter of known global reserves of manganese, and South Africa accounts for 37 per cent of global output of the metal.

Cobalt mining is dominated by the Democratic Republic of Congo, which accounts for 70 per cent of the world total. But in terms of processing, China is the leader, at 50 per cent.

Mounting geopolitical tensions between the United States and China, which are clashing over everything from the status of self-ruled Taiwan to trade, also weigh on Africa.

Washington has warned against what it sees as Beijing’s malign influence.

In 2022, the White House said China sought to ‘advance its own narrow commercial and geopolitical interests (and) undermine transparency and openness’.

Beijing insists it does not want a new cold war with Washington but rather seeks ‘win-win’ cooperation, promoting development while profiting from boosted trade.

‘We do not just give aid, give them help,’ Tsinghua University’s Tang said.

‘We are just partners with you while you are developing. We are also benefiting from it.’

But analysts fear African nations could be forced to pick sides.

‘African countries lack leverage against China,’ Development Reimagined’s Eguegu said.

‘Some people... think you can use the US to balance China,’ he said. ‘You cannot.’​

 

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Xi hosts two dozen African leaders at China’s biggest summit in years

Chinese president Xi Jinping hosted more than two dozen African leaders at a banquet in Beijing on Wednesday, kicking off the city’s biggest summit in years with promises of cooperation in infrastructure, energy and education...

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Xi hosts two dozen African leaders at China’s biggest summit in years
Agence France-Presse . Beijing 04 September, 2024, 21:44

Chinese president Xi Jinping hosted more than two dozen African leaders at a banquet in Beijing on Wednesday, kicking off the city’s biggest summit in years with promises of cooperation in infrastructure, energy and education.

China, the world’s number two economy, is Africa’s largest trading partner and has sought to tap the continent’s vast troves of natural resources including copper, gold, lithium and rare earth minerals.

It has also furnished African countries with billions in loans that have helped build much-needed infrastructure but also sometimes stoked controversy by saddling governments with huge debts.

Twenty-five African leaders have arrived in Beijing or confirmed attendance at this week’s China-Africa forum, according to an AFP tally, including some whose countries face a rising risk of debt distress.

Xi and his wife Peng Liyuan welcomed guests as they arrived for a lavish dinner at the Great Hall of the People on Wednesday evening, live AFP footage showed.

There was also a ‘family’ photo of the gathered leaders and Xi will give a speech at an opening ceremony on Thursday morning.

Chinese state media has lauded Xi this week as a ‘true friend of Africa’, claiming Beijing’s ties were reaching ‘new heights’ under his stewardship.

The Chinese leader had held talks with more than a dozen African counterparts in Beijing by Wednesday, a tally of state media reporting showed.

Xi called during a meeting on Tuesday with president Bola Tinubu of Nigeria — one of China’s biggest borrowers on the continent — for great cooperation in the ‘development of infrastructure, energy and mineral resources’, state news agency Xinhua said.

He also promised cooperation in ‘investment, trade, infrastructure, mineral resources’ and other areas during talks on the same day with Zimbabwean president Emmerson Mnangagwa.

Xi backed Zimbabwe in its struggle against ‘illegal sanctions’ imposed by the United States in response to corruption and human rights abuses by the country’s leadership.

Analysts say that Beijing’s largesse towards Africa is being recalibrated in the face of economic trouble at home and that geopolitical concerns over a growing tussle with the United States may increasingly be driving policy.

‘Deepening economic engagement with Africa across the board’ is one of Beijing’s key goals this week, Zainab Usman, director of the Africa Programme at the Carnegie Endowment for International Peace, said.

‘In specific areas, even where such an expanded engagement may not make economic sense, it will be driven by geopolitical reasons,’ she said.

One goal may be narrowing the growing trade imbalance between China and Africa through increasing imports of agricultural goods and processed minerals, Usman said.

‘Meeting these African demands is in China’s geopolitical interest to keep them onside in the tussle with the US.’

For their part, African leaders are likely to seek backing for big-ticket items, as they have in the past, but also place greater emphasis on debt sustainability, analysts say.

Recent deadly protests in Kenya were triggered by the government’s need ‘to service its debt burden to international creditors, including China’, said Alex Vines, head of the Africa Programme at London’s Chatham House.

Vines and other analysts expect African leaders at this week’s forum to seek not only more Chinese investment but also more favourable loans in light of such events.​

 

[Saif]

China unveils fresh stimulus to boost ailing economy

China unveiled some of its boldest measures in years on Tuesday aimed at boosting its struggling economy as leaders grapple with a prolonged property sector debt crisis, continued deflationary pressure and high youth unemployment.

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China unveils fresh stimulus to boost ailing economy

A woman checks shoes for sale in a shopping area of Beijing. On Tuesday, China’s central bank chief Pan Gongsheng said that they would cut a slew of rates in a bid to boost growth. Photo: AFP/FILE

China unveiled some of its boldest measures in years on Tuesday aimed at boosting its struggling economy as leaders grapple with a prolonged property sector debt crisis, continued deflationary pressure and high youth unemployment.

The world's second-largest economy has yet to achieve a highly anticipated post-pandemic recovery and the government has set a goal of five percent growth in 2024 -- an objective analysts say is optimistic given the headwinds it is facing.

On Tuesday, central bank chief Pan Gongsheng told a news conference in Beijing that it would cut a slew of rates in a bid to boost growth, pledging to "promote the expansion of consumption and investment".

The moves represent "the most significant... stimulus package since the early days of the pandemic", said Julian Evans-Pritchard, head of China economics at Capital Economics.

But "it may not be enough", he warned, adding a full economic recovery would "require more substantial fiscal support than the modest pick-up in government spending that's currently in the pipeline".

Among the measures unveiled Tuesday was a cut to the reserve requirement ratio (RRR), which dictates the amount of cash banks must hold in reserve.

The move will inject around a trillion yuan ($141.7 billion) in "long-term liquidity" into the financial market, Pan said.

Beijing would also "lower the interest rates of existing mortgage loans", he added.

The decision would benefit 150 million people across the country, Pan said, and lower "the average annual household interest bill by about 150 billion yuan".

Minimum down payments for first and second homes would be "unified", with the latter reduced from 25 to 15 percent, Pan said.

And Beijing will create a "swap programme" allowing firms to acquire liquidity from the central bank, Pan said, a move he said would "significantly enhance" their ability to access funds to buy stocks.

"The initial scale of the swap programme will be set at 500 billion yuan, with possible expansions in the future," Pan said.

Shares in Hong Kong and Shanghai surged more than four percent Tuesday.

But Heron Lim at Moody's Analytics said the move was expected given gloomy economic data in recent months suggesting Beijing could miss its 2024 growth target.

"But this is hardly a bazooka stimulus," he told AFP.

"Far more monetary easing and a stronger government stimulus is also desirable to finish bailing out the real estate market and inject more confidence into the economy," he said.

At a minimum, he added, "broader direct household support in helping them consume more goods will be useful, which is currently just too narrowly designed for industrial goods".

Another analyst said the "measures are a step in the right direction".

"We continue to believe that there is still room for further easing in the months ahead," said Lynn Song, chief economist for Greater China at ING.

Property and construction have long accounted for more than a quarter of China's gross domestic product, but the sector has been under unprecedented strain since 2020, when authorities tightened developers' access to credit in a bid to reduce mounting debt.

Since then, major companies including China Evergrande and Country Garden have teetered, while falling prices have dissuaded consumers from investing in property.

Beijing has unveiled a number of measures aimed at boosting the sector, including cutting the minimum down payment rate for first-time homebuyers and suggesting the government could buy up commercial real estate.

But those failed to boost confidence and housing prices have continued to slide.

Adding further strain, local authorities in China face a ballooning debt burden of $5.6 trillion, according to the central government, raising worries about wider economic stability.

Speaking alongside the central bank chief Tuesday, Li Yunze, director of the National Administration of Financial Regulation, said Beijing would "actively cooperate in resolving real estate and local government debt risks".

"China's financial industry, especially large financial institutions, is operating stably and risks are controllable," he insisted.

"We will firmly maintain the bottom line of preventing systemic financial risks," he added.​

 

[Saif]

China to build world's largest hydropower dam in Tibet

China has approved the construction of what will be the world's largest hydropower dam, kicking off an ambitious project on the eastern rim of the Tibetan plateau that could affect millions downstream in India and Bangladesh.The dam, which will be located in the lower reaches of the Yarlung Zangbo

thefinancialexpress.com.bd

China to build world's largest hydropower dam in Tibet
Published :
Dec 26, 2024 12:12
Updated :
Dec 26, 2024 12:12

A man sits in a boat on the waters of the Brahmaputra river near the international border between India and Bangladesh in Dhubri district, in the northeastern state of Assam, India August 4, 2018. REUTERS/Adnan Abidi/File Photo

China has approved the construction of what will be the world's largest hydropower dam, kicking off an ambitious project on the eastern rim of the Tibetan plateau that could affect millions downstream in India and Bangladesh.

The dam, which will be located in the lower reaches of the Yarlung Zangbo River, could produce 300 billion kilowatt-hours of electricity annually, according to an estimate provided by the Power construction Corp of China in 2020.

That would more than triple the 88.2 billion kWh designed capacity of the Three Gorges Dam, currently the world's largest, in central China.

The project will play a major role in meeting China's carbon peaking and carbon neutrality goals, stimulate related industries such as engineering, and create jobs in Tibet, the official Xinhua news agency reported on Wednesday.

A section of the Yarlung Zangbo falls a dramatic 2,000 metres (6,561 feet) within a short span of 50 km (31 miles), offering huge hydropower potential as well as unique engineering challenges.

The outlay for building the dam, including engineering costs, is also expected to eclipse the Three Gorges dam, which cost 254.2 billion yuan($34.83 billion). This included the resettling of the 1.4 million people it displaced and was more than four times the initial estimate of 57 billion yuan.
Authorities have not indicated how many people the Tibet project would displace and how it would affect the local ecosystem, one of the richest and most diverse on the plateau.

But according to Chinese officials, hydropower projects in Tibet, which they say hold more than a third of China's hydroelectric power potential, would not have a major impact on the environment or on downstream water supplies.

India and Bangladesh have nevertheless raised concerns about the dam, with the project potentially altering not only the local ecology but also the flow and course of the river downstream.
The Yarlung Zangbo becomes the Brahmaputra river as it leaves Tibet and flows south into India's Arunachal Pradesh and Assam states and finally into Bangladesh.

China has already commenced hydropower generation on the upper reaches of the Yarlung Zangbo, which flows from the west to the east of Tibet. It is planning more projects upstream.​

 

[Saif]

Chinese scientists develop new AI model for cyclone forecast

Chinese scientists have developed a new artificial intelligence (AI) method to forecast the rapid intensification of a tropical cyclone, shedding new light on improving global disaster preparedness. Recently, researchers from the Institute of Oceanology at the Chinese Academy of Sciences published

thefinancialexpress.com.bd

Chinese scientists develop new AI model for cyclone forecast
Xinhua
Published :
Feb 04, 2025 18:45
Updated :
Feb 04, 2025 18:45

Chinese scientists have developed a new artificial intelligence (AI) method to forecast the rapid intensification of a tropical cyclone, shedding new light on improving global disaster preparedness.

Recently, researchers from the Institute of Oceanology at the Chinese Academy of Sciences published this study in the journal, Proceedings of the National Academy of Sciences.

The rapid intensification of a tropical cyclone, which refers to a dramatic increase in the intensity of a tropical storm over a short period, remains one of the most challenging weather phenomena to forecast because of its unpredictable and destructive nature.

According to the study, traditional forecasting methods, such as numerical weather prediction and statistical approaches, often fail to consider the complex environmental and structural factors driving rapid intensification. While AI has been explored to improve rapid intensification prediction, most AI techniques have struggled with high false alarm rates and limited reliability.

To address this issue, the researchers have developed a new AI model that combines satellite, atmospheric and oceanic data. When tested on data from the tropical cyclone periods in the Northwest Pacific between 2020 and 2021, the new method achieved an accuracy of 92.3 per cent and reduced false alarms to 8.9 per cent.

The new method improved accuracy by nearly 12 per cent compared to existing techniques and boasted a 3-times reduction in false alarms, representing a significant advancement in forecasting, said the study.

"This study addresses the challenges of low accuracy and high false alarm rates in rapid intensification forecasting," said Li Xiaofeng, the study's corresponding author.

"Our method enhances understanding of these extreme events and supports better defences against their devastating impacts," Li added.​

 

[Saif]

China urges universities to provide ‘love education’

China is calling on its colleges and universities to provide “love education” to propagate positive views on marriage, love, fertility and family, in an attempt to improve the country’s declining birth rate.

www.thedailystar.net

China urges universities to provide ‘love education’

China is calling on its colleges and universities to provide "love education" to propagate positive views on marriage, love, fertility and family, in an attempt to improve the country's declining birth rate.

After China posted a second consecutive year of population decline in 2023, Beijing has been promoting various measures to make the prospect of having children more attractive to young couples.

Despite China having the second-biggest population in the world at 1.4 billion people, it is rapidly ageing. The ageing population will require government spending in the future and put pressure on the economy.

College students will be the biggest driver of fertility but they have significantly changed their views on marriage and love, the Jiangsu Xinhua newspaper group said, citing China Population News, an official publication.

"Colleges and universities should assume the responsibility of providing marriage and love education to college students by offering marriage and love education courses," the publication said.

The measures would help create a "healthy and positive marriage and childbearing cultural atmosphere".

The state council, or cabinet, rallied local governments in November to direct resources towards fixing China's population decline and spread respect for childbearing and marriages "at the right age", although demographers said the moves were unlikely to resonate with young Chinese.

Around 57 percent of college students polled by China Population News said they did not want to fall in love, mainly because they did not know how to allocate time to balance the relationship between study and love, the publication said.

Due to the lack of "systematic and scientific marriage and love education, college students have a vague understanding of emotional relationships".

Universities could focus on teaching junior college students about population and national conditions, new marriage and childbearing concepts, it said.

Senior college students and graduate students could be taught through "case analysis, group discussion on maintaining intimate relationships and communication between the sexes."

The courses would be able to help them "improve their ability to correctly understand marriage and love and manage love relationships".​

 

[Saif]

China’s two sessions: key developments to watch

CHINA is set to hold its annual ‘two sessions’ starting on March 5, a highly anticipated event in the country’s political calendar. The two sessions, comprising the meetings of the National People’s Congress and the...

www.newagebd.net

China’s two sessions: key developments to watch
by Imran Khalid 04 March, 2025, 00:00

This year’s sessions carry even greater weight due to mounting global uncertainties and China’s pressing domestic priorities. Amid an evolving geopolitical landscape and economic challenges, the Chinese leadership will focus on multiple key areas, writes Imran Khalid

CHINA is set to hold its annual ‘two sessions’ starting on March 5, a highly anticipated event in the country’s political calendar. The two sessions, comprising the meetings of the National People’s Congress and the Chinese People’s Political Consultative Conference, serve as a platform for evaluating past performance and setting new policy directions. During these sessions, the prime minister, the president of the Supreme People’s Court, and the procurator general of the Supreme People’s Procuratorate will present key reports for discussion and consultation. Over the years, these meetings have gained global significance, given China’s central role in the world economy and international affairs. With China expected to contribute 21 per cent of global economic growth over the next five years, investors, analysts, and policymakers worldwide are closely watching the proceedings. The outcomes of the two sessions will shape economic strategies, industrial policies, and international relations, directly influencing the global market.

This year’s sessions carry even greater weight due to mounting global uncertainties and China’s pressing domestic priorities. Amid an evolving geopolitical landscape and economic challenges, the Chinese leadership will focus on multiple key areas.

As 2025 marks the final year of China’s 14th five-year development plan, a comprehensive evaluation of the country’s achievements will be presented. The report will highlight areas where targets have been met or exceeded and additional efforts are needed. More importantly, discussions will likely offer glimpses into the contours of the upcoming 15th five-year plan, outlining strategic priorities for China’s future development. With China’s economy at a pivotal stage, policymakers will assess whether the existing structural reforms have yielded the desired outcomes and where recalibrations are necessary to ensure sustainable growth.

Technology and innovation will remain at the forefront of discussions, particularly in light of increasing western restrictions on China’s tech sector. President Xi Jinping has already emphasised the need for technological self-reliance and urged the development of high-quality new productive forces. The government is expected to unveil new policies and incentives to foster a culture of knowledge creation and technological advancement, ensuring that Chinese companies can compete globally without relying on foreign technologies. Investment in semiconductor manufacturing, artificial intelligence and quantum computing will be key to reducing dependency on western supply chains.

The private sector’s role in driving economic growth and technological progress will be another critical focus. Recently, president Xi met with prominent business leaders, including Jack Ma of Alibaba, Ren Zhengfei of Huawei, Wang Chuanfu of BYD and Lei Jun of Xiaomi, among others. He assured them that the government is committed to dismantling barriers, ensuring fair competition, and providing legal protection for businesses. Consequently, new policies, tools, and incentives are expected to emerge from the two sessions to further strengthen the private sector, boost entrepreneurship and attract foreign investment. With economic headwinds affecting various industries, the leadership will seek to reinforce confidence among private enterprises by addressing concerns over regulatory crackdowns and creating an environment conducive to long-term investment.

China has been grappling with a local government debt crisis and ongoing challenges in the real estate market. While the government has already introduced measures to stabilise these sectors, further discussions at the two sessions will likely result in additional policy interventions to prevent financial risks and ensure sustainable economic growth. The property sector, a major pillar of China’s economy, has been struggling due to liquidity crises and declining demand. The leadership is expected to introduce new mechanisms to manage debt restructuring while ensuring that homebuyers’ interests are protected. Revitalising the housing market without exacerbating financial vulnerabilities will be a delicate balancing act.

Following last year’s success in stimulating domestic consumption, policymakers will explore new ways to enhance consumer spending. This may include expanding trade-in programmes, introducing incentives for domestic purchases and promoting urbanisation and infrastructure development to drive economic activity. China’s growing middle class remains a crucial engine of economic growth and increasing their purchasing power through targeted fiscal measures will be a focal point of discussions. Additionally, policymakers may look into boosting e-commerce platforms and digital payment systems to further drive consumer engagement and spending.

One of the biggest challenges China faces is the increasing protectionism, decoupling and trade barriers imposed by western countries, particularly the United States. Washington has imposed sanctions on Chinese tech firms through measures such as the CHIPS and Science Act, targeting China’s semiconductor industry. Moreover, the US has recently increased tariffs on Chinese electric vehicles by 100 per cent, aiming to curb China’s dominance in this sector. The European Union has also raised concerns about China’s industrial policies, hinting at potential trade restrictions in key sectors such as green energy and telecommunications.

The two sessions will likely focus on crafting policies to mitigate these challenges by diversifying trade partnerships, expanding Belt and Road Initiative engagements, and developing alternative markets to counterbalance western restrictions. Notably, as some countries, like Panama, succumb to US pressure to exit the Belt and Road Initiative, China must refine its strategies to maintain global economic influence. Strengthening ties with global south nations, particularly in Africa and Latin America, will be a priority in ensuring that China’s economic footprint continues to expand despite geopolitical

headwinds.

At the heart of the two sessions is the unveiling of China’s economic growth targets for the year. The government work report, to be delivered by premier Li Qiang, will set policy priorities and national economic goals. Analysts anticipate a gross domestic product growth target of around 5 per cent, aligning with last year’s figures and exceeding the International Monetary Fund’s forecast of 4.6 per cent. This target will signal the government’s confidence in maintaining economic momentum despite external pressures and internal structural challenges.

Alongside the GDP target, budget allocations and fiscal policies will indicate Beijing’s commitment to economic recovery. December’s Central Economic Work Conference already pledged a higher budget deficit, increased special treasury bond issuance, and additional stimulus measures to sustain economic momentum. The two sessions will clarify the specifics of these fiscal policies and their expected impact on growth. Measures to boost employment, particularly among the youth, will also be a critical point of discussion as China’s job market continues to face pressures due to shifting industrial dynamics.

Beyond China’s domestic agenda, the world — particularly low- and middle-income nations — hopes that Beijing will introduce policies that contribute to global economic stability. Given the ongoing US-China trade war and escalating protectionism, many economies look to China for leadership in counterbalancing these disruptions and fostering sustainable growth. While tensions with the West persist, China is unlikely to be deterred; instead, it will double down on its efforts to sustain development, enhance innovation and contribute to global prosperity. Initiatives such as currency swap agreements, alternative trade settlement mechanisms and infrastructure investments in partner countries will likely be expanded.

The two sessions will also provide critical insights into China’s policy directions for 2025 and beyond. From evaluating the achievements of the 14th five-year plan to setting the foundation for the 15th, from advancing technological self-reliance to strengthening the private sector and from countering trade restrictions to boosting domestic consumption, China’s leadership will navigate a complex economic and geopolitical landscape.

As the world watches closely, Beijing’s policy decisions will not only shape China’s future but also have profound implications for global economic stability and development. With the challenges at hand, China should remain steadfast in its commitment to innovation, sustainable growth, and international cooperation — ensuring that it continues to serve as a driving force in the global economy. The policies and strategies outlined during these sessions will be critical in determining whether China can effectively navigate the headwinds it faces and continue on its path of economic transformation.

Dr Imran Khalid is a freelance contributor from Karachi.​

 

[Saif]

‘We are at a turning point in history’

Japan, China, and South Korea agree to promote peace, cooperation

www.thedailystar.net

‘We are at a turning point in history’
Japan, China, and South Korea agree to promote peace, cooperation

Chinese Foreign Minister Wang Yi and South Korean Foreign Minister Cho Tae-yul shake hands as Japanese Foreign Minister Takeshi Iwaya smiles during a joint press conference after their discussions at the 11th Trilateral Foreign Minister's Meeting (Japan-China-ROK) in Tokyo, Japan March 22, 2025. Photo: Reuters/Rodrigo Reyes Marin

Japan, South Korea and China agreed Saturday that peace on the Korean peninsula was a shared responsibility, Seoul's foreign minister said, in a meeting of the three countries' top diplomats in which they pledged to promote cooperation.

The talks in Tokyo followed a rare summit in May in Seoul where the three neighbours -- riven by historical and territorial disputes -- agreed to deepen trade ties and restated their goal of a denuclearised Korean peninsula.

But they come as US tariffs loom over the region, and as concerns mount over North Korea's weapons tests and its deployment of troops to support Russia's war against Ukraine.

"We reaffirmed that maintaining peace and stability on the Korean peninsula is a shared interest and responsibility of the three countries," South Korea's Cho Tae-yul told reporters after the trilateral meeting.

Seoul and Tokyo typically take a stronger line against North Korea than China, which remains one of Pyongyang's most important allies and economic benefactors.

Japanese Foreign Minister Takeshi Iwaya said he, Cho, and China's Wang Yi "had a frank exchange of views on trilateral cooperation and regional international affairs... and confirmed that we will promote future-orientated cooperation".

"The international situation has become increasingly severe, and it is no exaggeration to say that we are at a turning point in history," Iwaya said at the start of Saturday's meeting.

This makes it "more important than ever to make efforts to overcome division and confrontation", he added.

Wang noted this year marks the 80th anniversary of the end of World War II, saying "only by sincerely reflecting on history can we better build the future".

At two-way talks between Iwaya and Wang on Saturday, the Japanese minister said he had "frankly conveyed our country's thoughts and concerns" on disputed islands, detained Japanese nationals and the situation in Taiwan and the South China Sea, among other contentious issues.

Ukraine was also on the agenda, with Iwaya warning "any attempt to unilaterally change the status quo by force will not be tolerated anywhere in the world".

Climate change and ageing populations were among the broad topics officials had said would be discussed, as well as working together on disaster relief and science and technology.

Iwaya said the trio had "agreed to accelerate coordination for the next summit" between the countries' leaders.

China and to a lesser extent South Korea and Japan have been hit by tariffs put in place by US President Donald Trump in recent weeks.

On Saturday afternoon, Japan and China held their first so-called "high-level economic dialogue" in six years.

"The global economy is facing serious changes. Unilateralism and protectionism are spreading", Wang told reporters, according to Japan's public broadcaster NHK.

"China and Japan, as major economies, should pursue development and cooperation together with innovative thinking and bring stability to a world full of uncertainty," Wang said.

Patricia M. Kim, a foreign policy fellow at the Brookings Institution in Washington, said that while "trilateral dialogues have been ongoing for over a decade", this round "carries heightened significance" due to the new US position.

Beijing "has been working actively to improve relations with other major and middle powers amid growing frictions with the United States", she said.​

 

[Saif]

China strengthens foreign investment confidence in China

On March 23-24, the 2025 China Development Forum opened in Beijing, with the theme of "fully unleashing development momentum and jointly promoting stable global economic growth". The forum attracted 86 representatives from multinational corporations from 21 countries around the world to attend. The

thefinancialexpress.com.bd

China strengthens foreign investment confidence in China
Liu Qing

Published :
Apr 13, 2025 18:48
Updated :
Apr 13, 2025 18:48

On March 23-24, the 2025 China Development Forum opened in Beijing, with the theme of "fully unleashing development momentum and jointly promoting stable global economic growth". The forum attracted 86 representatives from multinational corporations from 21 countries around the world to attend. The Boao Forum for Asia 2025 was held from March 25th to 28th, with the theme of "Creating the Future of Asia Together in the Changing World", attracting nearly 2000 representatives from more than 60 countries and regions. Holding two heavyweight forums in a week, the Chinese economy has once again become the focus of global attention. On March 28th, Chinese national leaders met with representatives from the international business community in Beijing. This heavyweight meeting attracted global attention and sent a clear signal to the outside world that China is promoting high-level opening-up and driving economic globalization in the right direction.

With stable policy expectations, broad market prospects, strong development momentum, and a favorable security situation, China's advantages have become increasingly prominent in the external environment of insufficient global economic recovery momentum. Foreign funded enterprises have cast a "vote of trust" for the Chinese economy with practical actions. In February, the Eaton International Automotive Equipment Industrial Park project, invested by the French Eaton Group with 100 million US dollars, started construction in Suzhou, injecting new impetus into the development of intelligent, green, and low-carbon automotive equipment; In March, AstraZeneca announced that it would invest $2.5 billion in Beijing to build the world's sixth and China's second strategic research and development center.

In the ever-changing international environment, the Chinese economy is steadily advancing, and foreign investment confidence in China continues to rise. The deep integration of the two will inject more certainty and positive energy into promoting inclusive economic globalisation.

- The writer is a reporter from China Global Television Network（CGTN）.​

 

[Saif]

China’s bold move to bypass Western tech dominance

Washington’s continued restrictions on exporting chip technology to Beijing may soon prove futile.

www.thedailystar.net

China’s bold move to bypass Western tech dominance

China's CNT gambit represents more than just a response to export controls—it reflects a maturing approach to innovation. PHOTO: REUTERS

Washington's continued restrictions on exporting chip technology to Beijing may soon prove futile because the silicon-based semiconductor industry faces a potent adversary taking shape in China. After decades of silicon dominance, carbon nanotubes are emerging as a promising alternative to transform computing power while dramatically reducing energy consumption. This technological shift may also fundamentally alter the global tech competition, with China charting its innovative path rather than following in Western footsteps.

Traditional silicon chips have improved steadily for decades, following Moore's Law by doubling transistor density roughly every two years. But we're approaching physical barriers that silicon cannot overcome. Modern chips leak electricity and generate excessive heat as transistors shrink to atomic scales, creating serious efficiency problems.

This limitation is particularly problematic for artificial intelligence applications. The New York Times reported that training a single advanced AI model can consume as much electricity as 100 American households use annually.

Carbon nanotubes (CNT)—microscopic cylinders of carbon atoms—offer a compelling alternative with remarkable advantages. First, they conduct electricity far better than silicon. Second, they manage heat more efficiently. Third, they can operate with up to 90 percent less energy. Fourth, they function at smaller scales than silicon can achieve.

According to a recent analysis by The Wall Street Journal, CNT represents not just an improvement in chip technology but potentially a fundamentally different approach to computing architecture.

The emergence of CNT coincides with escalating US-China technology tensions. As Foreign Policy magazine detailed, since 2018, Washington has implemented increasingly stricter controls on selling advanced semiconductors and related technologies to China. But rather than simply attempting to catch up in these areas, China appears to be charting an entirely different course—one focused on leapfrogging current technology. Researchers at Peking University demonstrated carbon nanotube transistors that rival advanced silicon chips while using significantly less power. Besides, the Chinese Academy of Sciences has achieved breakthroughs in solving critical manufacturing challenges.

This approach mirrors China's mobile technology strategy of the early 2000s. It leapfrogged to mobile networks rather than building extensive landline infrastructure as Western countries once did. This technological leap allowed China to bypass decades of development and emerge as a mobile technology leader.

Japan followed a similar path in the 1970s and 1980s. Instead of copying American manufacturing methods, its automakers pioneered lean production techniques that revolutionised the industry. The Harvard Business Review documented how this independent approach transformed Japan from a technological follower to a leader in just one generation. History shows that the most successful technological challengers didn't follow the established path—they found a new one. China's focus on CNT without replicating silicon manufacturing follows this historical pattern.

However, despite promising developments, bringing CNT chips to market presents formidable challenges. First, manufacturing consistency at the industrial scale remains difficult. Second, integration with existing computing architectures requires significant adaptation. Third, building an entirely new supply chain takes time and massive investment. Continued American investment in research and innovation also poses challenges. MIT Technology Review reports that IBM and Intel are pursuing CNT research, while venture capital firms fund several startups focusing on this area.

All these suggest that Washington's restrictions may have inadvertently accelerated Beijing's investment in alternative technologies that could eventually surpass the very technologies being withheld. Any technological divergence could reshape global computing architectures and standards. Devices and systems might develop along increasingly separate paths with different optimisation priorities and capabilities. This potential bifurcation raises important strategic questions about technology adoption, compatibility, and long-term planning for businesses and governments worldwide.

China's CNT gambit represents more than just a response to export controls—it reflects a maturing approach to innovation. Rather than following the established technological roadmap, China is increasingly willing to chart its course. One such example is the launch of DeepSeek, which shook American stock markets to the core.

As we've seen throughout industrial history, technological leapfrogging often succeeds precisely because legacy approaches don't constrain it. From Japan's manufacturing revolution to South Korea's semiconductor rise, countries that find alternative paths frequently move faster than established leaders expect. The most effective technological strategies rarely involve simply catching up—they must find a different way forward, including developing newer technologies and charting different trajectories. China's focus on post-silicon computing suggests it has internalised this lesson.

Whether CNT fulfils its promise or other alternatives emerge, one thing is clear: the future of computing will be shaped not by who can build the best chips under prevailing paradigms but who can pioneer entirely new ones. More DeepSeek moments could be just around the corner.

Dr Sayeed Ahmed is a consulting engineer and the CEO of Bayside Analytix, a technology-focused strategy and management consulting organisation.​

 

[Saif]

China’s automakers will lead a race to the bottom

Donald Trump’s global trade war is set to heat up competition outside the world’s two largest auto markets, China and the United States. Yet both the People’s Republic and Detroit will share in the pain. Washington had locked Chinese carmakers out of America before the US preside

thefinancialexpress.com.bd

China’s automakers will lead a race to the bottom
REUTERS
Published :
May 01, 2025 21:57
Updated :
May 01, 2025 21:57

A BYD Sealion 06 electric vehicle (EV) is displayed alongside a BYD Sealion 05 DM-i during a media day for the Auto Shanghai show in Shanghai, China Apr 23, 2025. Photo : REUTERS/Go Nakamura

Donald Trump’s global trade war is set to heat up competition outside the world’s two largest auto markets, China and the United States. Yet both the People’s Republic and Detroit will share in the pain.

Washington had locked Chinese carmakers out of America before the US president slapped 25 per cent tariffs on auto imports this month. Though Trump on Tuesday agreed to prevent auto tariffs from stacking on top of other duties and to offer local manufacturers some relief from charges on imported parts, his double-digit levies on vehicles will nonetheless force companies like GM, Toyota, and Hyundai, into a race to grab market share in other regions.

That spells trouble for China. Autos are a growth engine, accounting for 10 per cent of the country’s GDP and 6.5 per cent of exports last year, according to Tommy Wu, senior economist at Commerzbank. They also are a symbol of China Inc’s ability to keep factories humming at home and to achieve technological dominance overseas.

In China, domestic demand for cars was already weak. BYD, Geely, SAIC and compatriots sent nearly 6 million vehicles abroad last year, a 19 per cent year-on-year increase. Overall, automakers in the country have capacity to supply half market of about 90 million.

Now, Washington’s broader trade assault against China could leave carmakers with even fewer buyers in the Middle Kingdom. At the opening of the Shanghai auto show last week, Chinese automakers, suppliers, and software providers told Breakingviews that their focus this year will be on selling more elsewhere.

Chart shows that exports account for a growing per centage of China's sales of internal combustion engine passenger vehicles, whereas exports are less significant as a proportion of electric-car sales.

ROADBLOCKS

That strategy looks increasingly fraught. Russia, the biggest overseas market for Chinese marques, is turning hostile to outsiders too. In the wake of the Ukraine conflict, Made-in-China cars flooded into the eastern European country to fill the void left following hurried exits by Western rivals including Toyota, Volkswagen, and Stellantis.

By last year, Chinese peers including Geely and Great Wall, accounted for more than half, of the Russian market, and these sales alone made up around a fifth of China’s auto exports, per Rhodium, a New York-based research group. Beginning in 2025, however, Moscow introduced quasi-tariffs by hiking a recycling fee for each vehicle sold. Local brands can reimburse this fee. Foreign ones cannot.

China’s auto exports to Russia in the first two months of the year amounted to around 60,000 vehicles, suggesting the first quarter total will fall far short of the roughly 170,000 Chinese exports tallied over the same period last year, per International Trade Centre data. It’s a sour commercial outcome for China whose foreign minister, Wang Yi, during a trip to Moscow in April described the duo as “friends forever, never enemies”.

Of course, the US and Russia aren’t the only ones erecting barriers to China’s automaking might. Turkey, Brazil and the European Union are among those attempting to put up walls too. The bloc increased tariffs on Chinese-built electric vehicles to as much as 45.3 per cent last October.

Only a handful of countries that do not have sizeable auto brands or local manufacturing to safeguard are truly open to Chinese imports. These include Australia, Norway, and Saudi Arabia. The UK also remains an opportunity for now because it has not matched Brussels’s tariffs on electric vehicles. In total, the cluster of economies that welcome Chinese carmakers probably represents around 10 million in combined annual sales, per Rhodium.

CHERY ON TOP

Sending cars to these dozens of small, fragmented markets is hard work, but one Chinese company is making a success of it. Anhui-based Chery sold its first car abroad in 2001 and has expanded to sell vehicles in more than 100 countries, becoming China’s largest auto exporter, according to a prospectus, for its planned initial public offering in Hong Kong. In the first nine months of 2024, the state-owned company’s overseas sales rose by more than 35 per cent to 80 billion yuan and the group achieved a pre-tax margin of over 7 per cent, similar to General Motors.

However, it has never cracked the United States, and many of its individual markets are tiny. This strategy is like trying to strip meagre meat from chicken ribs, says Yu Zhang, founder of Shanghai-based consultancy AutoForesight. Chery’s total sales are dwarfed by the nearly $180 billion revenue GM reported for the full year 2024.

Chart shows that China's auto exports are well diversified, and major markets include Russia, Central and South America, Middle East, Africa and the European Union, among others.

As others try to emulate Chery, competition in these modest markets will intensify. And, here, the Detroit 3’s global footprint overlaps with Chinese exporters’ targets: only around 40 per cent of Stellantis’ sales are in North America; nearly a third of Ford’s, and about a fifth of GM’s are outside the US, per LSEG.

Europe is Ford and Stellantis’ largest market beyond the United States. South America is the next largest for Stellantis, and GM has sizeable operations there too. Places like Mexico, where internal combustion engines are still popular, will become key battlegrounds. Some 75 per cent of China’s exports last year were gas guzzlers.

The signs of saturation are emerging thick and fast. Analysts polled by Visible Alpha expect Ford’s South America revenue growth to slow to under 4 per cent this year, compared with 31per cent in 2024; GM and Stellantis’ South America unit sales are likewise expected to show low single-digit growth.

Meanwhile, China’s Passenger Car Association warns auto exports from the country may decline for the first time in five years. Japanese and American companies’ China sales fell by 18 per cent and 23 per cent last year, respectively, according to Automobility, a consultancy. Stellantis, Mitsubishi and Renault, have effectively left the market. GM took a $5 billion writedown in December, some of which related to plant closures in the People’s Republic. Nissan, has slashed capacity in the country too.

Shows many automakers in China are using less than half of their production capacity.

Chinese champions are due for a shakeup too. State-owned Dongfeng, which works with both Honda, used about half of its passenger vehicle capacity in 2024 and is discussing a merger with fellow state automaker Changan, one of Ford’s JV partners, for example.

The importance of the auto industry to China, though, means its carmakers are unlikely to cut capacity as quickly as global peers. State-owned enterprises are also typically less fussed about profits than their private rivals. Trump’s trade war will hurt carmakers around the world, not least the People’s Republic. But China Inc. might have a higher tolerance for pain.

[Katrina Hamlin is global production editor for Reuters, based in Hong Kong. She is also a columnist, writing on topics including autos and electric vehicles, as well as the gambling industry in Macau and Asia. Before joining Reuters in 2012, Katrina was deputy managing editor of Shanghai Business Review magazine.​

 

[Saif]

China says it may speed up rare earths application approvals from EU

China is willing to accelerate the examination and approval of rare earth exports to European Union firms and will also deliver a verdict on its trade investigation of EU brandy imports by July 5, its commerce ministry said on Saturday. Price commitment consultations between China and the EU on Ch

thefinancialexpress.com.bd

China says it may speed up rare earths application approvals from EU

REUTERS
Published :
Jun 07, 2025 18:38
Updated :
Jun 07, 2025 18:38

A labourer works at a site of a rare earth metals mine at Nancheng county, Jiangxi province March 14, 2012. Photo : REUTERS/Stringer/Files

China is willing to accelerate the examination and approval of rare earth exports to European Union firms and will also deliver a verdict on its trade investigation of EU brandy imports by July 5, its commerce ministry said on Saturday.

Price commitment consultations between China and the EU on Chinese-made electric vehicles exported to the EU have also entered a final stage but efforts from both sides are still needed, according to a statement on the Chinese commerce ministry's website.

The issues were discussed between Chinese Commerce Minister Wang Wentao and EU Trade Commissioner Maros Sefcovic in Paris on Tuesday, according to the statement.

The comments mark progress on matters that have vexed China's relationship with the European Union over the past year.

Most recently, China's decision in April to suspend exports of a wide range of rare earths and related magnets has upended the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world.

The ministry said China attached great importance to the EU's concerns and "was willing to establish a green channel for qualified applications to speed up the approval process."

Commerce Minister Wang during the meeting "expressed the hope that the EU will meet us halfway and take effective measures to facilitate, safeguard and promote compliant trade in high-tech products to China," according to the statement.

Chinese anti-dumping measures that applied duties of up to 39% on imports of European brandy - with French cognac bearing the brunt - have also strained relations between Paris and Beijing.

The brandy duties were enforced days after the European Union took action against Chinese-made electric vehicle imports to shield its local industry, prompting France's President Emmanuel Macron to accuse Beijing of "pure retaliation".

The Chinese duties have dented sales of brands including LVMH's, Hennessy, Pernod Ricard's, Martell and Remy Cointreau.

Beijing was initially meant to make a final decision on the brandy duties by January, but extended the deadline to April and then again to July 5.

China's commerce ministry said on Saturday that French companies and relevant associations had proactively submitted applications on price commitments for brandy to China and that Chinese investigators had reached an agreement with them on the core terms.

Chinese authorities were now reviewing the complete text on those commitments and would issue a final announcement before July 5, it said.

In April, the European Commission said the EU and China had also agreed to look into setting minimum prices of Chinese-made electric vehicles instead of tariffs imposed by the EU last year.

China's commerce ministry said the EU had also proposed exploring "new technical paths" relating to EVs, which the Chinese side was now evaluating.​

 

[Saif]

China's railway passenger traffic surpasses 4.31b in 2024

China's railway system transported over 4.31 billion passengers in 2024, marking an 11.9 percent increase compared to the previous year, according to the National Railway Administration. Railway cargo transportation volume approached 5.18 billion tonnes last year, reflecting a 2.8-percent growth c

thefinancialexpress.com.bd

China's railway passenger traffic surpasses 4.31b in 2024

FE ONLINE DESK
Published :
Jun 07, 2025 08:23
Updated :
Jun 07, 2025 08:23

China's railway system transported over 4.31 billion passengers in 2024, marking an 11.9 percent increase compared to the previous year, according to the National Railway Administration.

Railway cargo transportation volume approached 5.18 billion tonnes last year, reflecting a 2.8-percent growth compared to the previous year.

In terms of investment, China's railway sector saw fixed-asset investment amount to 850.6 billion yuan (around 118.39 billion U.S. dollars) in 2024. During the same period, 3,113 km of new railway lines were inaugurated, about 79 percent of which are high-speed railways.

As the modern railway network continued to expand, China's total operational length of lines reached 162,000 km in 2024, including over 48,000 km of high-speed railway lines.

Furthermore, railway transportation remained safe, stable, and orderly throughout 2024, with no severe railway traffic accidents in China, the administration added.​

 

[Saif]

What South Asia can learn from China’s development journey

People across South Asia are increasingly realising how far they are being left behind in a world that is rapidly moving forward.

www.thedailystar.net

What South Asia can learn from China’s development journey

The author with other South Asian delegates during a recent visit to China. PHOTO: CPC

On May 24, I had the pleasure of travelling to China to meet a delegation of over 20 members from across South Asia, as well as representatives of the Chinese Communist Party (CPC). The seven-day trip, during which CPC representatives held dialogues with political parties from South Asia, as well as members of academia, think tanks, and the media, proved to be a truly enlightening experience.

Our first stop was Beijing, and what was particularly noticeable from the outset was the warmth and graciousness of our hosts. The delegation from Bangladesh was greeted at the airport—and later at the hotel—by several CPC members, who also welcomed delegates from across South Asia and accompanied us throughout the entire visit.

Our stay in Beijing involved visits to various places in an effort to experience Chinese culture first-hand. It was evident that, for the Chinese, their culture forms the foundational pillar of their identity and aspirations.

During our time in the city, we also had the pleasure of attending a large-scale dialogue that included senior representatives from Southeast Asian and Central Asian countries. At that event, the enthusiasm of all stakeholders regarding the Chinese-led Belt and Road Initiative (BRI) was visible. It was also evident how much progress had been made in terms of connecting China with Southeast Asia, as well as in improving connectivity among the Southeast Asian countries themselves.

Unfortunately, perhaps due largely to intra-regional conflict, it was equally clear how far South Asia has fallen behind in this regard. Representatives from Central Asian countries spoke of how China's technological prowess has been harnessed to extract their significant natural resource reserves. Once again, it was clear that South Asian countries are lagging far behind in their ability to make effective use of their own resources.

A recurring theme throughout many of the dialogues was that much of this stagnation appears to stem from the quality of leadership that South Asia has experienced over the decades. China, on the other hand, according to our gracious hosts, has worked extensively to improve the calibre of its leadership and to address corruption. One interesting story that was shared with us involved a member of the CPC who was photographed smiling at an accident site. His apparent insensitivity during a tragedy raised concerns among the Chinese leadership, who also noticed that he had been photographed wearing new and expensive watches at various events—watches that were beyond his pay grade. This led to a deeper investigation, which ultimately found that the individual had been involved in corruption.

As the world navigates increasing chaos and uncertainty, perhaps we are better off working together. As I mentioned earlier, the Chinese people take great pride in their civilisation, which spans thousands of years. And they also believe that Asian civilisations, in general, share a common history of peace and a tradition of pursuing mutually beneficial, win-win cooperation. There has been much talk about the 21st century being the "Asian century," and during our visit to China, it became obvious that Asia, as a whole, possesses all the components needed for shared success.

There were more such stories shared with us. We were informed that in China, every government department has its own "discipline committee," which reports to a central authority. Not only are government officials expected to refrain from corruption in order to keep their positions, but they are also expected to demonstrate other good disciplinary habits, including humility and a willingness to serve the public.

Naturally, the practice of good discipline and the effort to establish an educated and merit-based society have contributed to the rapid pace of China's development. While in the West it is evident that most countries developed 50 to 100 years ago, China's development has occurred largely in the past 30 to 40 years.

At the same time—whether it is infrastructure, environmental protection, poverty eradication, or the extremely impressive technological strides they have made—China's development is remarkable by any metric. In the area of technology in particular, the progress China has made is astonishing. From the development of self-driving cars to robotics and the generation of renewable energy, the country has become one of the hotspots for global technological innovation.

Our next stop was Kunming City in Yunnan Province, which is among the most beautiful places I have ever visited. But beyond its natural beauty, the city has been transformed into a gateway for connectivity between China and many of its neighbours. Again, during the dialogues held there, it became obvious that—from train tracks to highways—China has rapidly connected with Southeast Asia through Yunnan Province. And despite massive potential, activity along that front with South Asia remains somewhat slow, if not stagnant.

However, speaking with other South Asian delegates, it also became clear that people across South Asia are increasingly realising how far they are being left behind in a world that is rapidly moving forward. And China is a perfect example. Its cooperation with Southeast Asian countries has led to win-win outcomes for all parties. Having witnessed the fruits of that cooperation, others are increasingly eager to join in.

This week-long trip was not only a wonderful experience of witnessing China's rapid development and impressive achievements, but it also gave us insight into how it has sustained its success—through dialogue, sharing, and getting to know and understand one another: where we agree, where we disagree; where we can work together, and where we are better off on our own.

For the most part, as the world navigates increasing chaos and uncertainty, perhaps we are better off working together. As I mentioned earlier, the Chinese people take great pride in their civilisation, which spans thousands of years. And they also believe that Asian civilisations, in general, share a common history of peace and a tradition of pursuing mutually beneficial, win-win cooperation.

There has been much talk about the 21st century being the "Asian century," and during our visit to China, it became obvious that Asia, as a whole, possesses all the components needed for shared success. The only questions that remain are: i) do we have the visionary leadership needed to imagine Asia at the forefront of shaping the global order?; and ii) can we set aside our petty emotions and egos, and finally work together for the common good?

His X handle is @EreshOmarJamal.​

 

[Saif]

Tesla to build first grid-scale power plant in China

Tesla announced Friday that it signed an agreement to build its first grid-scale energy storage power station project in mainland China.

www.newagebd.net

Tesla to build first grid-scale power plant in China
AFP 21 June, 2025, 22:31

Tesla announced Friday that it signed an agreement to build its first grid-scale energy storage power station project in mainland China.

The project will help with the flexible adjustment of grid resources, and ‘effectively solve pressures relating to urban power supply,’ Tesla said in a post to the Chinese social media platform Weibo.

‘After completion, this project is expected to become the largest grid-side energy storage project in China,’ Tesla added.

Such energy storage systems help to enhance stability in the electricity grid at a time when there are greater supplies of solar and wind power.

Chinese media outlet Yicai reported that Tesla Shanghai, Shanghai authorities and China Kangfu International Leasing Co. held a signing ceremony Friday for the project. It added that the deal involved investments of 4 billion yuan ($560 million).

The contract comes at a moment of tension between Washington and Beijing, with the two sides yet to hash out a long-term trade agreement following tariffs announced by President Donald Trump.​

 

[Saif]

Defence meet in China unable to adopt joint statement

Defence ministers of the Shanghai Cooperation Organisation (SCO) meeting in China were unable to adopt a joint statement at the end of their talks due to a lack of consensus on referring to “terrorism”, the Indian foreign ministry said yesterday.

www.thedailystar.net

Defence meet in China unable to adopt joint statement
Says Indian foreign ministry

Defence ministers of the Shanghai Cooperation Organisation (SCO) meeting in China were unable to adopt a joint statement at the end of their talks due to a lack of consensus on referring to "terrorism", the Indian foreign ministry said yesterday.

"Certain members, member countries, could not reach consensus on certain issues and hence the document could not be finalised on our side," Indian foreign ministry spokesperson Randhir Jaiswal told reporters at a weekly media briefing.

"India wanted concerns on terrorism reflected in the document, which was not acceptable to one particular country and therefore the statement was not adopted," he said, without naming the country.

Indian media reported that New Delhi had refused to sign the document after it omitted reference to the April 22 attack on Hindu tourists in Indian Kashmir, in which 26 people were killed.

India refused to sign document after it omitted reference to the attack on tourists in Indian Kashmir

India blamed Pakistan for the attack but Islamabad rejected the accusation. The attack led to the worst fighting in decades between the nuclear-armed neighbours after India struck what it called "terrorist infrastructure" in Pakistan and Pakistani Kashmir.

Pakistan denied that the targets had anything to do with "terrorism" and that they were civilian facilities.

The foreign ministries of China and Pakistan did not immediately respond to a request for comment on India's statement.

Earlier yesterday, when asked about the joint statement, a Chinese defence ministry spokesperson said the meeting had "achieved successful results", without elaborating.​