South Asia and Beyond

A Guide To Contemporary China

 A Guide To Contemporary China

‘Washington Must Invite Hong Kong Chief Executive To Apec’

China has lodged a strong protest to the United States over the latter’s barring of Hong Kong Chief Executive John Lee Ka-chiu from attending this year’s APEC leaders’ summit. Reports cited unidentified US officials as saying Lee would be barred from the meeting to be held in San Francisco in November due to sanctions that the US had imposed on him in 2020. US sanctions on Chinese personnel, including Lee, are illegal and unreasonable, an act of bullying and a serious violation of basic norms guiding international relations, Foreign Ministry spokeswoman Mao Ning said on Friday. “It is yet another mistake not to invite Hong Kong’s chief executive to the APEC meeting by citing those sanctions as a reason,” Mao said. Noting that APEC hosts have a responsibility to ensure the participation in the organization’s meetings of representatives of all the member economies, Mao said the US’s refusal to invite Lee to November’s meeting is a “blatant violation of APEC rules, and contravenes the US’ commitment as host.”

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Source: China Daily

China Condemns Cyberattack On Wuhan Earthquake Monitoring Center

China condemned the cyberattack on the Wuhan Earthquake Monitoring Center by overseas hacker group, Chinese foreign ministry spokesperson Mao Ning said on Wednesday. Mao made the remarks at a regular news briefing in response to a cyberattack on the Wuhan Earthquake Monitoring Center. The attack was detected by China’s National Computer Virus Emergency Response Center and Chinese company 360, according to a public statement issued by the Wuhan Municipal Emergency Management Bureau and a bulletin put up by the Wuhan Public Security Bureau on July 26. Some media outlets said preliminary evidence indicates that the cyberattack had come from the United States.

Source: China Military

Foreign Firms Optimistic Over Future Investments, Says Survey

More than 80 percent of foreign companies operating in China anticipate that their investment profitability in the country will remain steady or increase this year, according to a survey report released by the China Council for the Promotion of International Trade on Friday. The research work, conducted by the country’s top foreign trade and investment promotion agency of nearly 800 foreign companies in 26 provinces, autonomous regions and municipalities between April and June, found that nearly 70 percent on surveyed foreign-funded businesses are optimistic about their outlook for the Chinese market for the next five years. Over 90 percent of respondents believe that the Chinese market’s attractiveness will either increase or remain stable. The primary reasons cited by these global companies for investing in China include “large market size”, “multiple preferential policies” and “complete industrial and supply chains”, accounting for 77.54 percent, 53.36 percent and 39.91 percent, respectively, said the survey results.

Source: People’s Daily

Bolivia Becomes Third South American Nation To Use Chinese Yuan

Amid an accelerating wave of de-dollarization across the world, Bolivia has become the third South American nation to use Chinese yuan for trade settlement, and the Bolivian government is pushing for the opening of Chinese banks in the country as soon as possible. Bolivian Economy Minister Marcelo Montenegro told a press conference that the country is already using the yuan and “it’s a reality and a good start,” the Times Magazine reported on Friday. Bolivia conducted financial operations amounting to 278 million Chinese yuan ($38.7 million) from May to July, which accounts for 10 percent of Bolivia’s foreign trade during the period, according to Montenegro. Prior to Bolivia, Argentina and Brazil had already initiated the use of yuan in their trading settlements. Argentina in April announced plans to use Chinese currency yuan to pay for goods imported from China; while Brazil in February signed a memorandum of cooperation with China to establish yuan clearing arrangements in Brazil.

Source: Global Times

Xi To Attend CPEC’s 10th Anniversary Celebration

Special Representative of Chinese President Xi Jinping and Vice Premier of the State Council He Lifeng will travel to Pakistan to attend a celebration event for the 10th anniversary of the launch of the China-Pakistan Economic Corridor (CPEC) and meet with the leaders of Pakistan, a spokesperson for the Chinese Foreign Ministry announced on Saturday. This year marks the 10th anniversary of the Belt and Road Initiative (BRI) proposed by China, and also the 10th anniversary of the launch of the CPEC, the spokesperson noted. Over the past decade, as an important pioneering project of the BRI, the CPEC has achieved fruitful results and become a new benchmark for the friendship between China and Pakistan, the spokesperson added.

Source: CGTN

China Stages First International Multi-Sport Gala After Pandemic

Chengdu, one of the most vibrant cities in China, is basking in the flame of youth, as the 31st FISU World University Games officially opened Friday evening here in the Dong’an Lake Sports Park. At 9:15 p.m. Beijing time, Chinese President Xi Jinping declared the Games open, in front of a crowd of around 40,000 and a host of state leaders and international dignitaries, including President Joko Widodo of Indonesia, President Mohamed Ould Cheikh Ghazouani of Mauritania, President Evariste Ndayishimiye of Burundi, President Irfaan Ali of Guyana and Prime Minister Irakli Garibashvili of Georgia. The Universiade is the first international multi-sport event staged by China after the COVID-19 pandemic, and the capital of southwest Sichuan Province has also become the third city from the Chinese mainland to host the biennial summer universiade, following Beijing in 2001 and Shenzhen in 2011.

Source: Global Times



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