Page 9 - China

China's Parliament endorses Xi's leadership for rare 3rd five-year term

China's Parliament on Friday unanimously endorsed an unprecedented third five-year term for President Xi Jinping. Xi, 69, was re-elected by the once-in-a-five-year Congress of the ruling Communist Party of China (CPC) as its leader in October last year, becoming the first Chinese leader after the party founder Mao Zedong to continue in power beyond the two five-year terms. China's legislature, the National People's Congress (NPC) often described as the rubber stamp Parliament, for its mechanical and routine endorsement of the decisions of the CPC on Friday voted on the expected lines ratifying Xi's third term. Xi is widely expected to continue in power for life. He has already been elected as the General Secretary of the CPC during its last October Congress, which also elected a new leadership for all its top policy bodies. This year's annual session of the NPC is regarded significant as it heralds a once-in-a-ten-year change of leadership of the Chinese government, including the

China making efforts to be 'pre-eminent power' in East Asia: US intel

China's leaders probably will seek opportunities to reduce tensions with the US when they believe it suits their interests

Biden proposes over $25 bn spending in Indo-Pacific to out-compete China

US President Joe Biden on Thursday proposed more than USD 25 billion spending, mostly in the Indo-Pacific region, in particular in the critical infrastructure sector and defence to out-compete China, amid Beijing's increasingly assertive presence in the strategic region. This includes over USD 15 billion of proposed investment in the infrastructure sector in the Indo-Pacific and USD 9 billion for shoring up American defence in the region. "This Budget cements our commitment to confronting global challenges and keeping America safe. It outlines crucial investments to out-compete China globally and to continue support for Ukraine in the face of unprovoked Russian aggression," Biden said in his message to the Congress. Biden said it also continues his administration's work to restore America's global leadership - reviving key alliances and partnerships, strengthening the military, fostering democracy and human rights, protecting global health, honouring the veterans, fixing immigration

Vietnam chief of Apple supplier exits after flagging shift from China

Deputy Chairman Kazuyoshi Yoshinaga is departing for "personal reasons," the Chinese firm said in a brief exchange filing, without elaborating

Mobius bets big on chip stocks as US, China increase investments in sector

Chip stocks have had a great start to 2023 after rising interest rates led to a carnage in 2022. Investor focus has started shifting to the sector's long-term growth prospects and cheaper valuations

Col Geeta Rana becomes first woman to command EME unit near China border

The officer has taken over the command of the EME independent workshop after the Army cleared 108 vacancies for women officers for taking command of independent units in the Corps of Engineers

India likely to be largest market in the world this year: Walmart CFO

John David Rainey, CFO Walmart, said during an investor conference that Walmart-owned Flipkart and PhonePe have exciting opportunities and have large portions of market share in India

China plans to tighten grip on finance industry; watchdogs face pay cuts

Currently, China Securities Regulatory Commission and the CBIRC are among rare central government agencies that pay their staff significantly above the compensation of civil servants, said the people

Supply chain exodus from China to India, Vietnam faster than anticipated

In a recent interview with Bloomberg, Yoshinaga was quoted as saying that Apple suppliers, including Goertek, have been moving manufacturing capacity out of China faster than observers

Covid-19 lab leak fight obscures the global rise of high-security biolabs

There are 69 so-called Biosafety Level 4, or BSL-4, facilities designed to study dangerous infectious pathogens in operation, under construction or planned worldwide, according to Global Biolabs

China's foreign minister warns of conflict unless US changes course

China's foreign minister has warned Washington of conflict and confrontation if it fails to change course in relations with Beijing, striking a combative tone amid conflicts over Taiwan, COVID-19 and Russia's invasion of Ukraine. Qin Gang's language appeared to defy hopes China's might abandon confrontational wolf warrior rhetoric. It followed an accusation by Chinese leader Xi Jinping that Western governments led by the United States were trying to encircle and suppress China. Washington's China policy has entirely deviated from the rational and sound track, Qin said at a news conference Tuesday during annual meeting of China's ceremonial legislature. China's relations with Washington and Japan, India and other Asian neighbours have soured as Xi's government has pursued assertive policies abroad. If the United States does not hit the brake, but continues to speed down the wrong path, no amount of guardrails can prevent derailing and there surely will be conflict and confrontation,

President Xi Jinping doubts Chinese military's ability to invade Taiwan

In a startling revelation of intelligence input, the US CIA Director William Burns claimed that Beijing is still determining whether its potential invasion of Taiwan would be successful

UN rights chief opens channels of communication about issues in China

The new UN human rights chief said Tuesday that his office has opened "channels of communication" to help follow up on concerns about the rights of minorities in China, including Uyghur Muslims and Tibetans. But this fell short of activists' hopes for a stronger message to Beijing. High Commissioner for Human Rights Volker Trk, in an address highly anticipated by rights advocates, didn't detail how his office plans to follow up on a critical report on China's western Xinjiang region published in August by his predecessor, Michelle Bachelet. That report cited possible "crimes against humanity" against Uyghurs and others in Xinjiang. Trk noted that the UN rights office "documented grave concerns" like arbitrary detentions and family separations in China, and called for "concrete follow-up." He also voiced concerns about the impact of the national security law in Hong Kong that has suppressed its pro-democracy movement. "Regarding China, we have opened up channels of communication with

Biden administration to relax Covid testing rules for travellers from China

The Biden administration is preparing to relax COVID-19 testing restrictions for travellers from China as soon as Friday, according to two people familiar with the decision. The people, who were not authorized to comment publicly and spoke on the condition of anonymity, said the administration has decided to roll back the testing requirements as cases, hospitalizations and deaths are declining in China and the US has gathered better information about the surge. The restrictions were put in place on December 28 and took effect on January 5 amid a surge in infections in China after the nation sharply eased pandemic restrictions and as US health officials expressed concerns that their Chinese counterparts were not being truthful to the world about the true number of infections and deaths. At the time, US officials also said the restriction was necessary to protect US citizens and communities because there was a lack of transparency from the Chinese government "about the size of the sur

Pak tells IMF about asking China for rollover of $2 bn deposits for next yr

Pakistan has informed the International Monetary Fund (IMF) that Islamabad has requested China for rollover of $2 billion SAFE (State Administration of Foreign Exchange) deposits for another one-year

Xi Jinping's right hand, Li Qiang to become China's next premier

All eyes are now on Li Qiang, who is favourite to replace Keqiang as Premier. Li is a crony of Xi's from his days in provincial government, having served as Xi's de facto chief of staff

Conflict with America inevitable unless they 'hit the brakes': China

US had been engaging in suppression and containment of China rather than engaging in fair, rule-based competition, Foreign Minister Qin Gang told a news conference

UN rights chief cites 'communication' about human rights issues in China

The new U.N. human rights chief said Tuesday that his office has opened channels of communication to help follow up on concerns about the rights of minorities in China, including Uyghur Muslims and Tibetans. But this fell short of activists' hopes for a stronger message to Beijing. High Commissioner for Human Rights Volker Trk, in an address highly anticipated by rights advocates, didn't detail how his office plans to follow up on a critical report on China's western Xinjiang region published in August by his predecessor, Michelle Bachelet. That report cited possible crimes against humanity against Uyghurs and others in Xinjiang. Trk noted that the U.N. rights office documented grave concerns" like arbitrary detentions and family separations in China, and called for "concrete follow-up. He also voiced concerns about the impact of the national security law in Hong Kong that fanned huge protests. Regarding China, we have opened up channels of communication with a range of actors to

Oil steady post 5 sessions of gains, as market juggles supply, demand fears

Oil prices were little changed on Tuesday after five sessions of gains, with weak oil data from top crude importer China balanced by concern over supply

Chinese FM hints closer ties with Russia; says US attempts won't succeed

Chinese Foreign Minister Qin Gang on Tuesday signalled closer ties with Russia, including dropping the US dollar and Euro in bilateral trade while asserting that America's attempts to "contain" China's rejuvenation will not succeed. Addressing his first annual press conference here on the sidelines of China's Parliament session, he said China will defend its core interests and oppose hegemony, bloc politics and unilateral sanctions. Qin said China and Russia are setting a good example for international relations and it was incorrect to see their close bilateral ties through a Cold War perspective. He defined China's relationship with Moscow as no alliance, no confrontation and not targeted at any third party. Asked about dropping the use of the US dollar and the Euro in China-Russia trade, Qin said China will use whatever currency is efficient, safe and credible. Currency should not be used as a trump card for unilateral sanctions, he said. Russian media reports said the Chinese