[🇨🇳] China----News & Views

[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

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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.​

 

[Saif]

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.​

 

[Saif]

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.​

 

[Saif]

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.’​

 

[Saif]

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.

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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...

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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

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‘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）.​