Tag Archives: Zhuhai

China: Daily Scan, October 5, 2021

U.S. trade chief seeks “frank conversations” with China: Xinhuanet
October 5, 2021

U.S. Trade Representative (USTR) Katherine Tai said on Monday that the United States seeks “frank conversations” with the Chinese side on issues including implementation of the phase-one economic and trade agreement, and industrial policies. Tai made the remarks at the Center for Strategic and International Studies, a Washington, D.C.-based think tank, on the Biden administration’s approach to the U.S.-China trade relationship. Click here to read…

Aerobatics and new military jets: Airshow China concludes in Zhuhai: China Military
October 4, 2021

The China International Aviation and Aerospace Exhibition, or Airshow China, concluded on Sunday in Zhuhai City, south China’s Guangdong Province. Dozens of aerobatics were performed by China’s top air display teams, providing eye candy for the audience, while the public debut of the J-16D electronic warfare jet and other equipment showcased the latest technology development in the Chinese army to enthusiasts. Many Chinese enterprises also received orders from global clients after displaying their latest product at the show. Click here to read…

China goes all out to cope with power outages: People’s Daily
October 5, 2021

China is making all-out efforts to ensure the nation’s power supply after power outages halted factory production and hit families in some regions, amid calls for a better electricity pricing mechanism and improved energy structure. The power squeeze has compelled multiple provinces in China to implement power rationing, with factory operation hours limited and power usage capped. Factories across various industries, including furniture, food and chemical production, have suspended their operations and rescheduled production. Click here to read…

Policy Address proposals focus on cooperation with mainland: China Daily
October 5, 2021

Hong Kong’s political groups and organizations expressed the hope that the 2021 Policy Address will help the city better utilize opportunities offered by national development, by releasing the potential of an idle border area and strengthening Hong Kong residents’ national identity. Click here to read…

Hopson Development plans to acquire 51% of Evergrande’s property management unit: Global Times
October 4, 2021

Property developer Hopson Development Holding Co is reportedly to acquire about 51 percent of the indebted Evergrande group’s property management unit, and the deal could be valued at more than 40 billion HKD ($5.14 billion), according to media reports. Evergrande group has been on a selling spree lately, scrambling to raise funds to help resolve its serious debt woes and avert a default. Click here to read…

China is not heading toward a market economy, often due to its own policies, report concludes: South China Morning Post
October 5, 2021

China has fallen short of meeting its stated reform goals and is not on track to become a market economy, a report assessing China’s development has concluded. As a result, the United States and other market economies must develop commercial rules to protect their systems better when they deal with China until it becomes a more open economy, according to the report, China Pathfinder, published by the Atlantic Council and Rhodium Group on Tuesday. Click here to read…

Fantasia, another debt-laden Chinese property developer, defaults on US$205 million bond, as Evergrande crisis rolls on: South China Morning Post
October 5, 2021

Fantasia Holdings Group, the Shenzhen-based property developer founded by the niece of a former Chinese vice-president, has failed to repay US$205 million of debt due on Monday.

The default will add to fears about the financial health of the Chinese property sector, as the liquidity crisis at China Evergrande Group – the world’s most indebted property developer – continues to unfold. Click here to read…

IMF briefed on probe into China’s ‘Doing Business’ report rankings at World Bank: South China Morning Post
October 5, 2021

The International Monetary Fund (IMF) said Monday its board of directors has been briefed by lawyers from the law firm whose investigation found that current managing director Kristalina Georgieva and other officials pressured World Bank employees to alter data affecting the business rankings of China and other nations. The IMF said the 190-nation lending agency’s board of directors met with representatives of the WilmerHale law firm as part of an ongoing review of the issues raised by the firm’s investigation into the World Bank’s “Doing Business 2018” report. Click here to read…

Hong Kong leader says Beijing has no timetable for anti-sanctions law: Reuters
October 5, 2021

Hong Kong leader Carrie Lam said on Tuesday that Beijing has no timetable to extend an anti-sanctions law to the global financial hub, where financial institutions are concerned over the impact it could have on their operations. Lam, speaking at her weekly news briefing, said Beijing would take into account the city’s status as an international financial centre if it decides to extend the law to Hong Kong. Click here to read…

China: Daily Scan, October 4, 2021

Senior Chinese political advisor under probe: Xinhuanet
October 2, 2021

Fu Zhenghua, deputy head of the Committee on Social and Legal Affairs of the National Committee of the Chinese People’s Political Consultative Conference, is being investigated for suspected severe violations of discipline and law. The investigation is being conducted by the Communist Party of China Central Commission for Discipline Inspection and the National Supervisory Commission, according to a statement released on Saturday. Click here to read…

China takes further action to revamp entertainment industry: Xinhuanet
October 1, 2021

Ministry of Culture and Tourism has issued a circular to strengthen regulation on entertainment companies and entertainers, as part of China’s effort to promote the healthy development of the industry. The circular stipulates that performers who have violated social norms or even laws and have seriously disrupted public order should not be enlisted in any performance activities. Click here to read…

All Tibet’s towns under meteorological observation: Xinhuanet
October 3, 2021

A total of 1,009 weather stations of various types have been built in southwest China’s Tibet Autonomous Region, leading to all the region’s 695 towns coming under meteorological observation. Meanwhile, the region has also established a disaster prevention, mitigation and early warning system, providing forecast for all its towns, according to the regional meteorological administration. Click here to read…

Hong Kong’s security bureau stresses criminal liability after anti-China organization decides to disband: Xinhuanet
October 3, 2021

The Security Bureau of the Hong Kong Special Administrative Region (HKSAR) government said on Sunday that an organization and its members shall remain criminally liable for the offenses they have committed, notwithstanding its disbandment or the resignation of its members. A security bureau spokesman made the remarks in response to media enquiries concerning the decision of the Hong Kong Confederation of Trade Unions, an anti-China organization, to disband on Sunday. Click here to read…

New electronic attack jet debuts in Zhuhai Airshow: China Military
October 1, 2021

China is showing off some of its most advanced weapons and fighter jets. The country’s largest air show is underway in Zhuhai. Among the aircraft on display is the J-16D, an electronic warfare fighter that’s designed to jam radars and erode anti-aircraft systems. China is only the second country in the world to develop this type of plane, after the United States. Huang Fei takes a closer look. Click here to read…

China sees booming development in green finance: People’s Daily
October 3, 2021

China has seen a big boom in developing green finance, which plays a vital role in promoting the country’s green economic transformation, data from the central bank showed.The balance of China’s green loans in local and foreign currencies surged 26.5 percent year on year to stand at 14 trillion yuan (about 2.16 trillion U.S. dollars) by the end of the second quarter of 2021, according to the People’s Bank of China. Click here to read…

PLA expands drills near Taiwan island only one day after setting new record: Global Times
October 3, 2021

Only one day after the Chinese People’s Liberation Army (PLA) dispatched 38 warplanes near the island of Taiwan for exercise on National Day, breaking the previous record set in June, it again refreshed this record on Saturday, sending a total of 39 aircraft of different types near the island during both day and night, according to defense authorities on the island. Click here to read…

PLA introduces JH-7A2 fighter bomber at Airshow China; updated version carries extra surface attack weapons: Global Times
October 2, 2021

The Chinese People’s Liberation Army (PLA) Air Force for the first time revealed details on the latest variant of the JH-7 fighter bomber, designated the JH-7A2, at the ongoing Airshow China 2021 in Zhuhai, South China’s Guangdong Province. Displayed at the outdoor exhibition area of the air show, the aircraft that looks nearly identical to the JH-7 is labeled as the JH-7A2, the Global Times found. Click here to read…

Corruption in China: ex-boss of PLA weapons giant to face trial over bribes and favours: South China Morning Post

October 1, 2021

The former head of one of China’s largest weapon manufacturers has been expelled from the Communist Party and will face corruption charges, the country’s top anti-graft body has announced, barely eight months after his predecessor was indicted on similar grounds.

Yin Jiaxu, Communist Party chief and chairman of state-owned China North Industries Group Corporation (Norinco) from 2013 until retiring in 2018, had been placed under an internal party probe in April over undisclosed wrongdoing. Click here to read…

Chinese firms warned to strengthen foreign exchange safeguards: South China Morning Post
October 2, 2021

The Chinese authorities have urged companies to better manage their foreign exchange exposure and adopt hedging tools amid concerns that cross-border capital flows and the yuan’s exchange rate could be tested as Washington prepares for monetary tightening.

In a report released on Thursday, the State Administration of Foreign Exchange (Safe) urged them to carry out a thorough analysis of business operations and evaluate forex risk exposure before making “scientific” and “effective” hedging plans. Click here to read…

China’s coal firms told to exceed quotas: Taipei Times
October 2, 2021

China’s leadership has told the country’s state-owned mining firms to produce coal at full capacity for the rest of the year even if they exceed annual quotas as the country struggles with a deepening power crisis. The directive, along with other measures to secure energy supplies for this winter at all costs, was emphasized during emergency meetings this week in Beijing, people familiar with the matter said. Boosting domestic thermal coal production is critical, the sources said, asking not to be named as the discussion contents are not public. Click here to read…

Former PetroChina executive under probe for suspected graft: Reuters
October 4, 2021

China’s anti-corruption watchdog is investigating a former senior executive of top state energy giant PetroChina for suspected “serious disciplinary violations”, the Central Commission for Discipline Inspection (CCDI) said on Sunday. Ling Xiao, who resigned last month from his position as a vice president of PetroChina, turned himself in and is now under CCDI’s probe, the commission said. Click here to read…