FM calls on Washington to honor its words on ties (China Daily)
2022-01-28

China turns over Indian who illegally entered Chinese territory, 'refutes irresponsible rumors by Indian media' (GT)
2022-01-27

Moscow Keeping Beijing in the Loop on Security Talks With the West on Ukraine, Envoy Says (Caixin)
2022-01-27
Russia has kept China in the loop on its security talks with Western countries over the Ukraine issue, Moscow's envoy to Beijing told a Tuesday press conference, noting that external factors would not affect the bilateral relations. Andrey Denisov said at the event held in the Russian embassy in Beijing that Russia's talks with the U.S. and NATO members do not affect China, but Russia regularly informs China about the progress of talks and China is closely following the developments. "The Chinese side has expressed full understanding of the diplomatic actions we have taken," the ambassador said. Russia has been seeking security guarantees including barring Ukraine from joining NATO, and the removal of the alliance's forces and weapons deployed in Central and Eastern Europe, demands that the U.S. and NATO have rejected in written responses, according to U.S. media reports. Russia and China need to consider the potential impact of the Ukraine issue on bilateral ties, including possible sanctions imposed by the U.S. and its European allies on Russian banks, which might affect trade between China and Russia, Denisov said. The two countries are studying ways to mitigate the impact, he noted. Denisov also said that China and Russia both face some difficulties in their respective ties with the U.S. and Europe, but the two countries are not the rule breakers. Relations between China and Russia would not be affected by external factors, he added. The two countries' leaders have expressed solidarity as tensions have heightened in their respective relations with the U.S. and its allies. Chinese President Xi Jinping told his Russian counterpart Vladimir Putin in their virtual meeting last month that China and Russia should carry out "more joint actions" to safeguard both sides' security interests. Zhao Lijian, a Chinese foreign ministry spokesperson, has denied a Bloomberg report that Beijing had asked Moscow not to invade Ukraine during the Beijing Winter Olympics, which is scheduled to be held between Feb. 4 and Feb. 20, saying it "was purely made out of thin air." "It seeks not only to smear and drive a wedge in China-Russia relations, but also to deliberately disrupt and undermine the Beijing Winter Olympics," Zhao said at a Monday regular press briefing. "Such a despicable trick cannot fool the international community." "I want to stress China-Russia relations today are mature, stable and resilient. The two sides maintain close communication at all levels, thwarting any attempt to play China off against Russia or to challenge their mutual trust," he added. Regarding the Ukraine issue, Denisov said Tuesday that the Chinese side made its stance clear years ago and Russia considers China's position to have been made based on its full understanding of relevant history. During a phone conversation Thursday with U.S. Secretary of State Antony Blinken, Chinese Foreign Minister Wang Yi has noted that "Russia's reasonable security concerns should be taken seriously and resolved." He called on all parties involved to stay calm and refrain from stimulating tension and hyping up the situation. "All parties should completely abandon the Cold War mentality and form a balanced, effective and sustainable European security mechanism through negotiation," Wang said.

China, Central Asian countries vow to build community with shared future (Xinhua)
2022-01-26

Lithuania won't smoothen China ties by mere name change (GT)
2022-01-26

China, Netherlands pledge to enhance cooperation (Xinhua)
2022-01-26

F-35C's crash on carrier in S.China Sea exposes US exhaustion in containing China: experts (GT)
2022-01-25

Africa and the decision to not boycott the Beijing Winter Olympics (SCMP)
2022-01-24

China strongly opposes Japan, US interfering in its domestic affairs (China Daily)
2022-01-24

How China and Russia forged a friendship after bridging decades-old differences (SCMP)
2022-01-23

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Military ready to respond to any provocation (China Daily)
2022-01-28

China's money laundering crackdown reflects 'severe' risks facing the financial system (SCMP)
2022-01-27

China's Communist Party expels ex-chief of e-commerce hub Hangzhou in corruption probe (SCMP)
2022-01-27

Winter Olympics: IOC says it talked to China's Peng Shuai last week, will meet her in Beijing during Games (SCMP/Reuters)
2022-01-26

Chinese premier stresses prioritizing stability in economic development (Xinhua)
2022-01-25

Xi stresses solid efforts for 'dual carbon' goal (GT)
2022-01-25

Xi chairs CPC leadership meeting to review report, regulations (Xinhua)
2022-01-24

Zhengzhou Officials 'Deliberately Obstructed' Reporting of Deaths, Disappearances in Flooding, Report Finds (Caixin)
2022-01-22
An investigation by China's central government has revealed misconduct by local officials in Zhengzhou, who "deliberately obstructed" the reporting of the deaths and disappearances of over 100 people in devastating flooding last July. Nearly 400 people in Henan province died in the flooding or were still missing as of Sept. 30, 95% of them in regional capital Zhengzhou, according to the Friday report on the city's disaster response. The province as a whole suffered direct economic losses worth 120 billion yuan ($19 billion), said the report published on the website of the Ministry of Emergency Management. The disaster exposed local officials' problems and deficiencies, the report said. The investigation found that Zhengzhou officials at the city, county and township levels either failed to report or delayed the reporting of the deaths or disappearances of 139 people. They also failed to report casualties to their superiors every day as they should have. The report was issued over five months after the State Council set up an investigation team, vowing to probe and punish any misconduct in the official response to the deadly flooding in Zhengzhou. Previously, some had questioned the city's drainage system — which should have been improved as part of a multibillion-dollar "sponge city" program — as several people were found dead in flooded highway tunnels or drowned while riding the subway. The report said 14 passengers died on Zhengzhou's paralyzed subway system on July 20, when record-breaking torrential rain hit the city — two more deaths than the city announced in the immediate aftermath of the disaster. The report said six people died in a tunnel on the Jingguang Expressway during the flooding. The report highlighted how the Zhengzhou authorities paid great attention to so-called "face engineering" — trying to make themselves look good — while neglecting their real duties. The report said although the city invested 19.6 billion yuan in its "sponge city" program that started in 2016, only 32% of the funding was actually used to build and enhance flood-control infrastructure and nearly 56% was used for landscaping and greening. Even when the city was at the "critical moment" of the flooding, the Zhengzhou authorities were still repairing flower beds, investigators found. During an August visit to the city, Premier Li Keqiang urged the local authorities to make safety engineering a priority when planning urban construction. Eight company staff in Zhengzhou, mostly linked to the construction of a car park whose retaining wall collapsed under the pressure of floodwater — which led to the drownings on the subway's Line 5 — have been detained and put under criminal investigation, and Henan's party discipline watchdogs have held 89 officials accountable for "suspected violations of discipline and law," the state-run Xinhua News Agency reported Friday. Of them, Mayor Hou Hong has been demoted and given a "serious warning" from the party, and three deputy mayors have either been sacked or given administrative demerits. Xu Liyi, the Zhengzhou's Communist Party chief, was demoted after he was judged to have mishandled the incident and neglected his duties, according to another Friday Xinhua report. The position has been taken over by An Wei, former party secretary of the neighboring city of Zhoukou, local media said Friday.

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Beijing Winter Games: Covid-19 cases in Olympic bubble rise to 106 (SCMP)
2022-01-26

Beijing 2022 adjusts criteria to make COVID test positive results stricter, a 'balance between epidemic prevention and Games' (GT)
2022-01-24

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Shanghai reports one new locally transmitted COVID-19 case (China Daily)
2022-01-27

Shanghai home to 831 regional multinational headquarters (Xinhua)
2022-01-23

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Shenzhen May Allow Citywide Unmanned Driving Trials (Caixin)
2022-01-27
Southern China tech hub Shenzhen plans to open all its main roads for self-driving cars, becoming the first Chinese city to move toward such a large-scale test of the new technology. Shenzhen, one of China's wealthiest cities with more than 17 million people, will allow citywide tests of unmanned driving, including main roads, highways, ports and railway logistics facilities, according to a guideline issued by the National Development and Reform Commission (NDRC) and the Ministry of Commerce. A number of Chinese cities have opened roads for autonomous driving tests, but limited to certain areas, according to Gu Dasong, a transport expert at Southeast University in Nanjing. The Shenzhen plan will accelerate self-driving tests and push forward practical use of the technology, though the plan will need further support and coordination from urban transport regulators, Gu said. As the home of a cluster of smart vehicle startups, Shenzhen has been a leader in putting smart cars on roads. As of March 2021, the city allowed autonomous driving tests on 144.69 kilometers of roads in nine districts. The city issued 14 licenses for companies to conduct trials. They have completed 18,700 kilometers of travel, official data showed. The city is also close to enacting the country's first legislation on intelligent connected vehicles including autonomous cars. The city's legislative body last year completed three rounds of reviews of draft rules on the administration of intelligent connected vehicles. Several other major Chinese cities are also racing to test autonomous cars. The capital city of Beijing opened 1,000 kilometers of roads for tests as of the end of 2021, data showed. More than 16 companies and 170 vehicles have been involved in the tests, completing 3.9 million kilometers of trips. In Guangzhou, neighboring Shenzhen, several smart driving startups have completed 2.9 million kilometers of road tests in three districts, according to the city transportation authority in August. During the pandemic, driverless vehicles have been deployed to help deliver supplies to residents living under stay-at-home orders. Shanghai opened 243 roads for 22 companies to test the new technology as of the end of 2020, according to the most recent data released by the city government. The NDRC guideline also proposed to set up a national testing facility and quality assessment center for intelligent connected vehicles in Shenzhen in a bid to promote nationwide unification of standards.

China issues opinion to ease market access in Shenzhen (Xinhua)
2022-01-26

Shenzhen toughens quarantine rules for arrivals from Hong Kong, authorities lock down third building at Omicron-stricken Kwai Chung Estate (SCMP)
2022-01-25

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Tibet's GDP expands 6.7 percent in 2021 (Xinhua)
2022-01-27

Tibet tourism doubles in last five years (China Daily)
2022-01-27

Xizang athletes enter Beijing Winter Olympics, thanks to regional advantage and national support (GT)
2022-01-27

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China says UN human rights chief can visit Xinjiang 'after Olympics' (SCMP)
2022-01-27

Never allow hard-won stability to be reversed: SWAT officers in Xinjiang's Aksu (GT)
2022-01-26

Xinjiang sees 7% rise in GDP despite obstacles (China Daily)
2022-01-25

Uphold China's unity and socialist society, Xinjiang Communist Party chief tells minority and religious leaders (SCMP)
2022-01-24

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Former leader CY Leung warns window of opportunity for Hong Kong closing fast and visionary leader needed to unlock national potential (SCMP)
2022-01-27

Top liaison official in HKSAR expresses confidence in 'one country, two systems' (China Daily)
2022-01-27

Hong Kong to 'enhance' spy law to prevent acts of 'espionage and theft of state secrets,' security chief says (HKFP)
2022-01-26

'No question' over impartiality of hand-picked national security judges, says Hong Kong chief justice (HKFP)
2022-01-24

Hong Kong finance chief vows budget will strike balance between boosting economy, helping residents, as industry representatives call for more aid (SCMP)
2022-01-23

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IMF affirms Macao SAR's policy response in containing pandemic (Xinhua)
2022-01-24

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New Honduras leader says she hopes to maintain Taiwan relations, despite campaign hint at switching ties (SCMP)
2022-01-27

Taiwan's DPP urged to stop detainment of mainland fishing boats (Xinhua)
2022-01-26

Beijing cadres told to 'resolutely curb external interference' in Taiwan amid 'uncertainty' (SCMP)
2022-01-26

17-member delegation representing Chinese Taipei register for Beijing Games (China Daily)
2022-01-26

US House finalises bill to confront China, including provisions on semiconductors and Taiwan ties (SCMP)
2022-01-26

Taiwan sees export orders from mainland grow in 2021 (Xinhua)
2022-01-23

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China to become high-income country no later than the end of 2023: economists (GT)
2022-01-27

China coking coal imports down 25 per cent due to Australia, Mongolia 'gap' caused by unofficial ban, border closure (SCMP)
2022-01-27

China's Commerce Ministry Warns of Challenges to Foreign Investment in 2022 (Caixin)
2022-01-26
China's Ministry of Commerce has warned that a "complicated" international environment along with rising production costs will pose challenges for stabilizing foreign investment this year even as the government continues its policy of opening-up and makes more effort to improve the business environment. Foreign direct investment (FDI) in China topped 1 trillion yuan ($158.2 billion) for the first time last year, Chen Chunjiang, director-general of the ministry's Department of Foreign Investment Administration, said at a Tuesday press briefing. However, factors including the Covid-19 pandemic, the restructuring of global supply chains, and tougher competition among countries to attract foreign capital, are among the headwinds confronting the country, he said. Rising labor, land and raw material costs in the country are adding to the pressure, according to Chen. China was the world's second-biggest recipient of FDI in 2019 and 2020 measured in U.S. dollars, according to data compiled by the United Nations Conference on Trade and Development, which is scheduled to release data for 2021 in June in an annual report. The U.S. received the most FDI, although China closed the gap in 2020 when inbound investment rose to $149 billion from $141 billion, while the world's biggest economy saw investment drop to $156 billion from $261 billion partly due to the pandemic. Despite the continued impact of Covid-19 on global economic activity, China's FDI, which excludes foreign investment in banking, insurance and securities, rose 14.9% to 1.15 trillion yuan in 2021. Measured in dollars, FDI rose 20.2% to $173.48 billion. The number of new foreign-invested companies rose 23.5% to 48,000, continuing the recovery from a slump in 2019 that saw the figure drop to 40,910 from 60,560 in 2018. Chen said that China's policies to attract more foreign capital, such as supporting investments in free trade zones and ports, along with improvements in the business environment, contributed to the increase in foreign investment last year. The government has also signaled its commitment to continuing its opening-up strategy, Chen said, pointing to December's release of an updated negative list of industries where foreign investment is restricted or prohibited, promoting the entry into force of the Regional Comprehensive Economic Partnership (RCEP) on Jan. 1 this year, and applying to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The updated negative list reduced the overall number of industries subject to restrictions and removed limits on foreign investors' shareholdings in passenger-car makers. A commerce ministry spokesperson told a press briefing in September that China will commit to allowing an unprecedented level of access to its markets in order to join the CPTPP, a free trade agreement whose current members are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore and Vietnam. The RCEP, a free trade agreement among 15 Asia-Pacific countries that cover around a third of the world economy, took effect for some members on the first day of 2022. The Ministry of Commerce said earlier in January that China will fulfill its RCEP obligations by implementing agreements and expanding foreign trade and reciprocal investment while strengthening supply chains.

Chinese warn US debt, dollar hegemony may lead to another 'Nixon shock' with global implications (SCMP)
2022-01-26

PBOC Takes a Knife to Interest Rates as Economic Headwinds Grow (Caixin)
2022-01-26
Yields on benchmark Chinese government bonds recovered Tuesday after slumping to their lowest in almost two years the previous day when the central bank cut the interest rate on a key money-market instrument in its latest move to support the slowing economy. The People's Bank of China (PBOC) lowered funding costs Monday for 14-day reverse repurchase (repo) agreements by 10 basis points, or 0.1 of a percentage point, to 2.25% after last week reducing several key policy loan rates. The yield on the benchmark 10-year government bonds declined that day to close at 2.6775%, its lowest since May 2020, and recovered to 2.6975% Tuesday, according to data compiled by Bloomberg. The interest rate cuts over the past week mark the beginning of what's likely to be a cycle of rate reductions and credit easing to stabilize economic growth as the world's second-largest economy faces mounting downward pressure, analysts say. China's GDP growth slid to 4% year-on-year in the fourth quarter of 2021, the weakest pace since mid-2020, and some economists' forecasts for expansion this year range from as low as 4.3% to 5%, down from the actual growth of 8.1% last year. The PBOC has already pledged to roll out more monetary policy measures to help stabilize the economy. It will "open the monetary policy toolbox wider, maintain stable overall money supply and avoid a collapse in credit," Liu Guoqiang, a deputy governor, said at a briefing Jan. 18 in Beijing. Liu said policy efforts should be targeted and preemptive. Monetary easing is likely to keep yields on government bonds low over the next few months. Ming Ming, an analyst at Citic Securities Co. Ltd., projected that the yield on the benchmark 10-year bond to bottom out at around 2.6% in the second quarter, according to a research note published Tuesday. Fixed-income analysts at Guotai Junan Securities Co. Ltd. see a steeper decline, forecasting the yield could drop below 2.5% to as low as 2.25%. The latest rate cut, which was expected by the market, was made when the PBOC added 150 billion yuan ($23.7 billion) of 14-day reverse repos into the interbank market through open market operations, a key monetary policy tool. The central bank said the injection was aimed at maintaining stable liquidity in the runup to the seven-day Lunar New Year public holiday when demand for money soars. The break starts Jan. 31. Last week, the central bank lowered the interest rate on the one-year medium-term lending facility (MLF), its key policy lending rate, by 10 basis points to 2.85%, the first reduction since April 2020. It also cut the rate on seven-day repos by the same magnitude to 2.1% and reduced borrowing costs on all three tenors of its standing lending facility, which offers short-term emergency loans, by 10 basis points. The reduction of the MLF was a signal to banks to lower their borrowing costs to customers. Thursday, a PBOC affiliate's monthly announcement of the one-year and five-year-plus loan prime rates (LPRs), the de facto benchmark lending rates, showed a reduction in the LPR quotes lenders submit to the central bank. That led to a 10 basis-point decline in the national LPR rate on one-year loans to 3.7% and a decline on five-year-plus loans of 5 basis points to 4.6%. If lending data for January doesn't show an obvious improvement, the PBOC could well lower the MLF rate again in February, Zhang Yu, chief macroeconomic analyst at Huachuang Securities Co. Ltd., wrote last week. Expectations that the U.S. Federal Reserve will increase interest rates before the end of March has narrowed the window for the PBOC to keep easing because the monetary tightening cycle in the U.S. could trigger capital flight from China as the yield spread between Chinese and U.S. sovereign bonds shrinks. "If the Fed starts hiking interest rates in March, China's subsequent policy moves will be more passive," Gao Ruidong, chief macroeconomist at Everbright Securities Co. Ltd., said in a report last week. When the external environment is uncertain, domestic demand is shrinking and the outlook is weakening, it's risky for Chinese authorities to make minor adjustments while observing the effects, he said, adding that picking up the pace for policy adjustments could be a better option. A floundering property market is adding pressure for the central bank to take further action, economists said. In the past, the real estate sector borrowed more as monetary policy eased, thus quickly expanding credit, Peng Wensheng, chief economist at investment bank China International Capital Corp. Ltd., wrote in a note. Now, as the sector faces constraints on borrowing and the impact of easing fiscal policies could take time to appear, a further loosening of monetary policy is needed, he said. But even if the PBOC takes further action, there are doubts over whether credit will expand, especially in an environment where the economic recovery is likely to be bumpy, the Guotai Junan analysts wrote in a Sunday report.

China's fiscal revenue jumps 10.7 pct in 2021 on stronger economic recovery (Xinhua)
2022-01-25

China jobs: record number of graduates faced with supply shortage as employment prospects dim amid economic slowdown (SCMP)
2022-01-25

China's small and medium firms evolve to seek vitality amid pandemic (Xinhua)
2022-01-24

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DPRK conducts weapons tests – KCNA (Xinhua)
2022-01-28

DPRK fires 2 short-range projectiles into eastern waters -- S. Korean military (Xinhua)
2022-01-27

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Jakob Stausholm: We want to show to the world that investing in Mongolia is proper solution (Montsame)
2022-01-27

Coal being exported through Khangi-Mandal and Gashuunsukhait border checkpoints (Montsame)
2022-01-25

Oyu Tolgoi underground mining operations commence (Montsame)
2022-01-25

China's practices in forestation under attention of Ministry (Montsame)
2022-01-24

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Embassy of Switzerland