Issue 5 - 19.06.2018
19.06.2018

Belt and Road Initiative belongs to whole world: Chinese UN envoy

Chinese Ambassador to the United Nations Ma Zhaoxu said Wednesday that the Belt and Road Initiative (BRI) is China's initiative, but the opportunities and fruits that it presents belong to the whole world.

At a high-level symposium, which was jointly sponsored by the Chinese mission to the United Nations, UN Department of Economic and Social Affairs, World Health Organization and United Nations Development Programme, the Chinese envoy said BRI aims to synergize the development strategies of various countries, strengthen international cooperation for shared prosperity in Asia, Europe and beyond, and jointly build a community of shared future for mankind.

In the fall of 2013, Chinese President Xi Jinping proposed jointly building the Silk Road Economic Belt and the 21st Century Maritime Silk Road. The initiative is guided by the principle of extensive consultation, joint development and shared benefits.

The Belt and Road Initiative has five priorities: policy connectivity, infrastructure connectivity, trade connectivity, financial connectivity, and people-to-people connectivity, Ma explained.

The 2030 Agenda for Sustainable Development adopted at the UN Summit on Sustainable Development 2015 set out 17 sustainable development goals and 169 targets, charting the course for international development cooperation. The purpose of the agenda is to realize common development and prosperity for all through a stronger global partnership, he said.

The BRI and the 2030 Agenda resonate with and reinforce each other, Ma said, adding that together, they promote the cause of international cooperation for development.

Anchored in the purposes and principles of the UN Charter, both are committed to multilateralism and international peace and development, Ma said.

The BRI follows an approach of extensive consultation, joint development and shared benefits, and advocates openness and inclusiveness. The 2030 Agenda underscores international cooperation for development. Both are aimed at economic development and better lives for the people.

Being supportive of countries' own choices of development paths in accordance with their national conditions, both the BRI and 2030 Agenda reflect the desire for a new type of international relations featuring win-win cooperation, he said.

Over the past five years, the initiative has received positive response from the international community. More than 80 countries and international organizations have signed over 100 cooperation documents with China and a large number of cooperation projects have been implemented.

Figures show that the trade volume between China and the countries involved has exceeded 4 trillion U.S. dollars, and total investment exceeded 60 billion U.S. dollars. China has opened direct flights with 43 countries along the routes. Cargo trains between China and Europe have completed 7,500 trips. Seventy-five economic and trade cooperation zones have been set up, creating more than 200,000 jobs for local people.

Ma said that China is the world's biggest developing country, and also the second largest economy and second largest importer and consumer. While Chinese companies are reaching out to the world, China presents major opportunities to businesses around the world as a huge consumer market.

In the coming five years, China will import more than 10 trillion U.S. dollars of goods and services. That will be a historic opportunity for foreign businesses to access to the Chinese market, the envoy said.

Reported on June 13 2018 by Xinhua (China).

EURASIA

19.06.2018

China, Russia pledge stronger ties amid global trade turmoil

After being awarded China’s first Friendship Medal, Russian President Vladimir Putin and his Chinese counterpart Xi Jinping have moved towards closer economic cooperation at a time of deep fragmentation over trade protectionism in the West. 

Beyond growing trade, the two neighboring countries are also cementing stronger regional development by upgrading transportation...

After being awarded China’s first Friendship Medal, Russian President Vladimir Putin and his Chinese counterpart Xi Jinping have moved towards closer economic cooperation at a time of deep fragmentation over trade protectionism in the West. 

Beyond growing trade, the two neighboring countries are also cementing stronger regional development by upgrading transportation...

19.06.2018

Russia boosts oil exports to China amid declining supplies to Europe

Russian oil exports dropped 16% to 51.1 mln tonnes from January to May 2018 compared to the same period in 2017, Sergei Andronov, Vice President of Russia’s Transneft oil pipeline operator, told Vedomosti.

The reduction in exports stems from a number of factors, including compliance of the deal with the OPEC...

Russian oil exports dropped 16% to 51.1 mln tonnes from January to May 2018 compared to the same period in 2017, Sergei Andronov, Vice President of Russia’s Transneft oil pipeline operator, told Vedomosti.

The reduction in exports stems from a number of factors, including compliance of the deal with the OPEC...

19.06.2018

Russia & China agree to joint gold mining project in Siberia

The Russian government has approved a cooperation agreement with China on developing the Klyuchevskoye gold ore deposit in the Trans-Baikal region.

The decree was signed by Prime Minister Dmitry Medvedev, and the project is expected to be operational in two years. The planned volume of ore extraction is over 12 million...

The Russian government has approved a cooperation agreement with China on developing the Klyuchevskoye gold ore deposit in the Trans-Baikal region.

The decree was signed by Prime Minister Dmitry Medvedev, and the project is expected to be operational in two years. The planned volume of ore extraction is over 12 million...

19.06.2018

Rosneft won’t lose contracts over collapse of China’s CEFC

Rosneft’s contract with China’s private conglomerate CEFC on oil supplies to China is not in jeopardy, two sources close to the deal told Vedomosti. CEFC sought to buy a 14.16% stake in the Russian oil giant to the tune of $9.1 bln. The Chinese conglomerate also undertook commitments to buy...

Rosneft’s contract with China’s private conglomerate CEFC on oil supplies to China is not in jeopardy, two sources close to the deal told Vedomosti. CEFC sought to buy a 14.16% stake in the Russian oil giant to the tune of $9.1 bln. The Chinese conglomerate also undertook commitments to buy...

19.06.2018

US paper gold suppression allowing Russia & China to buy real gold at discount prices

Efforts by the US to suppress gold prices in order to prop up the dollar are allowing Russia and China to build up huge reserves of physical gold by purchasing large quantities of the precious metal at significantly lower prices.

Net central bank purchases in the first quarter of the current...

Efforts by the US to suppress gold prices in order to prop up the dollar are allowing Russia and China to build up huge reserves of physical gold by purchasing large quantities of the precious metal at significantly lower prices.

Net central bank purchases in the first quarter of the current...

19.06.2018

Digging to China: Russia’s mega gas pipeline nears completion

One of the world’s longest gas pipelines, the Power of Siberia, which aims to deliver Russian natural gas to China, is nearly 85 percent complete.

According to the Russian energy giant Gazprom, the section from the Chayandinskoye field (Yakutia) to the border with China is already built. The second tunnel of...

One of the world’s longest gas pipelines, the Power of Siberia, which aims to deliver Russian natural gas to China, is nearly 85 percent complete.

According to the Russian energy giant Gazprom, the section from the Chayandinskoye field (Yakutia) to the border with China is already built. The second tunnel of...

19.06.2018

Kazakhstan and China to jointly launch 500 projects worth KZT 1.5 trln, focusing on agro-sector

"This year the Government plans to launch 500 joint projects of Kazakhstan and China to the amount of KZT 1.5 trillion," Kazakh PM Bakytzhan Sagintayev told the joint sitting of the Parliament's Chambers.

"Kazakhstan's export of agricultural products to China stands today at USD 150 mln. We can supply products worth...

"This year the Government plans to launch 500 joint projects of Kazakhstan and China to the amount of KZT 1.5 trillion," Kazakh PM Bakytzhan Sagintayev told the joint sitting of the Parliament's Chambers.

"Kazakhstan's export of agricultural products to China stands today at USD 150 mln. We can supply products worth...

19.06.2018

Kazakhstan to enter China’s hay market

Kazakhstan plans to export more than 100,000 tons of alfalfa hay per year to China, the Kazakh media reported June 12.

The appropriate protocol was signed between the General Administration of Customs of China and the Ministry of Agriculture of Kazakhstan.

“The main phytosanitary requirements were stipulated in the protocol: for today,...

Kazakhstan plans to export more than 100,000 tons of alfalfa hay per year to China, the Kazakh media reported June 12.

The appropriate protocol was signed between the General Administration of Customs of China and the Ministry of Agriculture of Kazakhstan.

“The main phytosanitary requirements were stipulated in the protocol: for today,...

19.06.2018

Chinese airline may buy into Kazakhstan’s Qazaq Air

Young Kazakhstan state-owned regional airline Qazaq Air and China Express Airlines, China’s first private regional airline, have signed a Memorandum of Understanding (MOU) on strategic cooperation in international regional passenger transportation, as well as the possible participation of the Chinese carrier in the privatisation of Qazaq Air, the Kazakh airline...

Young Kazakhstan state-owned regional airline Qazaq Air and China Express Airlines, China’s first private regional airline, have signed a Memorandum of Understanding (MOU) on strategic cooperation in international regional passenger transportation, as well as the possible participation of the Chinese carrier in the privatisation of Qazaq Air, the Kazakh airline...

19.06.2018

New Kazakh Caspian port to become regional hub

Kazakhstan’s Kuryk port will become one of the key facilities of the transport and logistics complex of the New Silk Road, the director of DARYN Partners Nurzhan Marabaev told Trend.

"Among the multimodal overland container transport routes connecting East Asia with Europe, Iran and Turkey, the way through Kazakhstan is the...

Kazakhstan’s Kuryk port will become one of the key facilities of the transport and logistics complex of the New Silk Road, the director of DARYN Partners Nurzhan Marabaev told Trend.

"Among the multimodal overland container transport routes connecting East Asia with Europe, Iran and Turkey, the way through Kazakhstan is the...

19.06.2018

China prolongs grace period for Kashagan loan

Kazakhstan and China have agreed to extend the maturity period of the loan provided by the Industrial and Commercial Bank of China (ICBC) for the acquisition of a stake in KMG Kashagan B.V. by the Kazakhstan National Welfare Fund Samruk-Kazyna until 2022, the Fund said in a statement.

The relevant agreement...

Kazakhstan and China have agreed to extend the maturity period of the loan provided by the Industrial and Commercial Bank of China (ICBC) for the acquisition of a stake in KMG Kashagan B.V. by the Kazakhstan National Welfare Fund Samruk-Kazyna until 2022, the Fund said in a statement.

The relevant agreement...

19.06.2018

Astana, Beijing to step up financial and e-trade cooperation

Kazakhstan and China agreed to expand financial, trade and investment cooperation, the press service of the Kazakh MFA says.

It was highlighted in the joint statement of heads of state Nursultan Nazarbayev and Xi Jinping as of June 7, 2018.

The two countries will continue with the implementation of the agreement between...

Kazakhstan and China agreed to expand financial, trade and investment cooperation, the press service of the Kazakh MFA says.

It was highlighted in the joint statement of heads of state Nursultan Nazarbayev and Xi Jinping as of June 7, 2018.

The two countries will continue with the implementation of the agreement between...

19.06.2018

Chinese tour operators intend to launch charter flights to Uzbekistan

Representatives of the State Tourism Committee of the Republic of Uzbekistan held a meeting with tour operators from China, which jointly with the tourist company Diplomatic VIP and Travel Service intend to organize charter and direct flights from Chongqing, Luan, XI'an in late August this year.

A group of tour operators...

Representatives of the State Tourism Committee of the Republic of Uzbekistan held a meeting with tour operators from China, which jointly with the tourist company Diplomatic VIP and Travel Service intend to organize charter and direct flights from Chongqing, Luan, XI'an in late August this year.

A group of tour operators...

19.06.2018

Kyrgyzstan to create protected zone from foot and mouth disease to export meat products to China

Kyrgyzstan is preparing to create a free zone from foot and mouth disease, head of the State Inspectorate for Veterinary and Phytosanitary Security Kalysbek Zhumakanov told reporters at Kabar News Agency.

He said that within the framework of the state visit of President of Kyrgyzstan Soorobay Jeenbekov, an agreement was signed...

Kyrgyzstan is preparing to create a free zone from foot and mouth disease, head of the State Inspectorate for Veterinary and Phytosanitary Security Kalysbek Zhumakanov told reporters at Kabar News Agency.

He said that within the framework of the state visit of President of Kyrgyzstan Soorobay Jeenbekov, an agreement was signed...

Europe

19.06.2018

B&R enhances win-win partnership between China, Europe against global uncertainties

German engineering company Siemens, whose history in China dates back to more than 100 years ago, inked over 10 agreements with its Chinese partners earlier this month to fully explore opportunities unleashed by the five-year-old Belt and Road Initiative.

Siemens CEO Joe Kaeser based the decision on the conviction that the...

German engineering company Siemens, whose history in China dates back to more than 100 years ago, inked over 10 agreements with its Chinese partners earlier this month to fully explore opportunities unleashed by the five-year-old Belt and Road Initiative.

Siemens CEO Joe Kaeser based the decision on the conviction that the...

19.06.2018

China becoming a top investor in France

China has become one of the leading investors in France, as an increasing number of Chinese investors are investing heavily in this European country.

A total of 1,298 investment decisions were made in France last year, with China as a leading Asian investor in the country, said Florent Mangin, deputy director...

China has become one of the leading investors in France, as an increasing number of Chinese investors are investing heavily in this European country.

A total of 1,298 investment decisions were made in France last year, with China as a leading Asian investor in the country, said Florent Mangin, deputy director...

19.06.2018

Dutch entrepreneurs increasingly optimistic about Chinese business climate

This week, BenCham presented the key findings of the Sino Benelux Business Survey at the Embassy of the Kingdom of the Netherlands in Beijing. Every year, Bencham investigate the business climate for Benelux businesses in China. “It is great to see that Benelux businesses are performing very well and are expecting to...

This week, BenCham presented the key findings of the Sino Benelux Business Survey at the Embassy of the Kingdom of the Netherlands in Beijing. Every year, Bencham investigate the business climate for Benelux businesses in China. “It is great to see that Benelux businesses are performing very well and are expecting to...

China, Pacific

19.06.2018

China unveils more measures to draw foreign investment

The State Council, China's cabinet, on Friday unveiled more foreign investor-friendly measures to further open up and promote high-quality economic development.

The country will widen market access, and revise and release negative lists on market access for foreign investment before July 1, according to a notice posted on the government website.

Financial-sector...

The State Council, China's cabinet, on Friday unveiled more foreign investor-friendly measures to further open up and promote high-quality economic development.

The country will widen market access, and revise and release negative lists on market access for foreign investment before July 1, according to a notice posted on the government website.

Financial-sector...

19.06.2018

FDI into China's mainland grows 7.6% annually to US$9.2b in May

China's foreign direct investment rose in May from a year earlier and also from January to May, with capital channeled into high technology industries.

FDI into the Chinese mainland grew 7.6 percent year on year to 58.81 billion yuan (US$9.2 billion) last month, and the number of newly set up foreign...

China's foreign direct investment rose in May from a year earlier and also from January to May, with capital channeled into high technology industries.

FDI into the Chinese mainland grew 7.6 percent year on year to 58.81 billion yuan (US$9.2 billion) last month, and the number of newly set up foreign...

19.06.2018

China's ODI sees strong growth

China's non-financial outbound direct investment (ODI) continued to see strong growth in the first five months of 2018, official data showed Thursday.

Domestic investors made 47.89 billion U.S. dollars of non-financial ODI in 2,987 overseas enterprises in 149 countries and regions in January-May, the Ministry of Commerce said.

The investment was up...

China's non-financial outbound direct investment (ODI) continued to see strong growth in the first five months of 2018, official data showed Thursday.

Domestic investors made 47.89 billion U.S. dollars of non-financial ODI in 2,987 overseas enterprises in 149 countries and regions in January-May, the Ministry of Commerce said.

The investment was up...

19.06.2018

China's new yuan loans shrink, M2 growth unchanged

Chinese banks extended 1.15 trillion yuan (about 179.7 billion U.S. dollars) in new yuan-denominated loans in May, edging down from 1.18 trillion yuan in April, central bank data showed Tuesday.

The figure was 40.5 billion yuan more than the same period last year, the People's Bank of China said in an...

Chinese banks extended 1.15 trillion yuan (about 179.7 billion U.S. dollars) in new yuan-denominated loans in May, edging down from 1.18 trillion yuan in April, central bank data showed Tuesday.

The figure was 40.5 billion yuan more than the same period last year, the People's Bank of China said in an...

19.06.2018

China sticks to tight property market regulation

With a flurry of recent property market controls, Chinese authorities have demonstrated their will to keep a lid on housing prices, not just in metropolises but also in smaller cities.

Over 40 cities unveiled property market regulations a total of 50 times in May, a monthly record for frequency, according to...

With a flurry of recent property market controls, Chinese authorities have demonstrated their will to keep a lid on housing prices, not just in metropolises but also in smaller cities.

Over 40 cities unveiled property market regulations a total of 50 times in May, a monthly record for frequency, according to...

19.06.2018

China's farm produce prices retreat slightly

China's farm produce prices fell slightly the week ending June 10 due to falling vegetable prices, according to the Ministry of Commerce.

The price index for farm produce edged down 0.2 percent in the past week, compared with a 0.5 percent rise the previous week. The index for production materials went...

China's farm produce prices fell slightly the week ending June 10 due to falling vegetable prices, according to the Ministry of Commerce.

The price index for farm produce edged down 0.2 percent in the past week, compared with a 0.5 percent rise the previous week. The index for production materials went...

19.06.2018

China plans to create a $78bn natural gas giant

Together with its massive push to have more and more residential and industrial customers switch from coal to gas, China is aiming to overhaul the ownership of its huge gas pipeline network.

That would allow third-party access to the gas pipelines and would help Beijing in its efforts to cut pollution...

Together with its massive push to have more and more residential and industrial customers switch from coal to gas, China is aiming to overhaul the ownership of its huge gas pipeline network.

That would allow third-party access to the gas pipelines and would help Beijing in its efforts to cut pollution...

19.06.2018

High-speed rail builder China Railway swaps out debt for US$1.8 billion in fresh cash

China Railway Group, which spearheads the country’s ‘railway diplomacy’ push to extend its influence around the world, has won fresh funding of 11.6 billion yuan (US$1.8 billion) by swapping debt into equity under a government-backed initiative to help state firms cut debt.

According to a stock exchange filing, the company said...

China Railway Group, which spearheads the country’s ‘railway diplomacy’ push to extend its influence around the world, has won fresh funding of 11.6 billion yuan (US$1.8 billion) by swapping debt into equity under a government-backed initiative to help state firms cut debt.

According to a stock exchange filing, the company said...

19.06.2018

China's service trade deficit may expand in next few years

China's deficit of trade in services is expected to expand in the next few years due to the country's industrial and consumption upgrades, an official said Thursday.

The service trade deficit may begin to shrink "only after it reaches a certain level," Gao Feng, spokesperson for the Ministry of Commerce said...

China's deficit of trade in services is expected to expand in the next few years due to the country's industrial and consumption upgrades, an official said Thursday.

The service trade deficit may begin to shrink "only after it reaches a certain level," Gao Feng, spokesperson for the Ministry of Commerce said...

19.06.2018

Chinese software exports surge to $38b after 9.7% growth

China's software exports reached $37.56 billion in 2017, up 9.7 percent year-on-year, said a report on the digital economy and software exports issued by the Ministry of Commerce Tuesday.

With a rapid development of global digital economy, digital trade has become an important trade in the digital economy era, the report...

China's software exports reached $37.56 billion in 2017, up 9.7 percent year-on-year, said a report on the digital economy and software exports issued by the Ministry of Commerce Tuesday.

With a rapid development of global digital economy, digital trade has become an important trade in the digital economy era, the report...

19.06.2018

Global crude oil demand growth is now hostage to China

Discussion in the crude oil market is degenerating into a single “will they or won’t they” focus on whether the Organization of the Petroleum Exporting Countries (OPEC) will ease their output restrictions next week.

While the meeting in Vienna on June 22 will undoubtedly heavily influence the direction of short-term crude...

Discussion in the crude oil market is degenerating into a single “will they or won’t they” focus on whether the Organization of the Petroleum Exporting Countries (OPEC) will ease their output restrictions next week.

While the meeting in Vienna on June 22 will undoubtedly heavily influence the direction of short-term crude...

19.06.2018

Belt and Road Initiative to significantly boost global trade: report

Trade between the countries involved in the Belt and Road Initiative (BRI) accounts for more than a quarter of world trade, so better connections and the lower trade costs that come with them could have a significant global impact, according to an analysis of the Amsterdam-based global bank ING.

"A halving...

Trade between the countries involved in the Belt and Road Initiative (BRI) accounts for more than a quarter of world trade, so better connections and the lower trade costs that come with them could have a significant global impact, according to an analysis of the Amsterdam-based global bank ING.

"A halving...

19.06.2018

Economist predicts steady expansion in China's GDP

The Chinese economy will maintain steady growth this year as structural reforms have made notable progress, an expert has said.

ICBC International economist Cheng Shi predicts China's GDP will grow 6.9 percent year-on-year in 2018, with continued strength from last year.

"We remain cautiously optimistic about China's economic future, and areas related...

The Chinese economy will maintain steady growth this year as structural reforms have made notable progress, an expert has said.

ICBC International economist Cheng Shi predicts China's GDP will grow 6.9 percent year-on-year in 2018, with continued strength from last year.

"We remain cautiously optimistic about China's economic future, and areas related...

19.06.2018

China, ASEAN to forge closer community of shared future

China and the Association of Southeast Asian Nations (ASEAN) will expand cooperation in various fields and forge a closer community with a shared future, said Chinese State Councilor and Foreign Minister Wang Yi on Tuesday.

He made the remarks while holding talks with Secretary-General of ASEAN Lim Jock Hoi in Beijing.

China...

China and the Association of Southeast Asian Nations (ASEAN) will expand cooperation in various fields and forge a closer community with a shared future, said Chinese State Councilor and Foreign Minister Wang Yi on Tuesday.

He made the remarks while holding talks with Secretary-General of ASEAN Lim Jock Hoi in Beijing.

China...

19.06.2018

Getting DPRK onboard Belt & Road initiative might be easier than expected

Many think that infrastructure in North Korea is in a dilapidated state, but data from the US Central Intelligence Agency (CIA) tells a different story and one that indicates that North Korea's economic potential may have been underestimated.

Getting North Korea into China's Belt and Road (B&R) initiative will help rebuild its...

Many think that infrastructure in North Korea is in a dilapidated state, but data from the US Central Intelligence Agency (CIA) tells a different story and one that indicates that North Korea's economic potential may have been underestimated.

Getting North Korea into China's Belt and Road (B&R) initiative will help rebuild its...

19.06.2018

Wang Yi Holds Talks with Second Minister of Foreign Affairs and Trade Dato Seri Paduka Haji Erywan bin Pehin Datu Pekerma Jaya Haji Mohd Yusof of Brunei

On June 13, 2018, State Councilor and Foreign Minister Wang Yi held talks in Beijing with Second Minister of Foreign Affairs and Trade Dato Seri Paduka Haji Erywan bin Pehin Datu Pekerma Jaya Haji Mohd Yusof of Brunei, who was in China for an official visit.

Wang Yi expressed that China...

On June 13, 2018, State Councilor and Foreign Minister Wang Yi held talks in Beijing with Second Minister of Foreign Affairs and Trade Dato Seri Paduka Haji Erywan bin Pehin Datu Pekerma Jaya Haji Mohd Yusof of Brunei, who was in China for an official visit.

Wang Yi expressed that China...

South Asia, Middle East

19.06.2018

China’s trade with South Asia to expand

China wants to continue to expand imports from South Asian countries amid its efforts to deepen reform and boost opening-up, Vice-Premier Hu Chunhua said on Thursday.

China has paid attention to the concerns of South Asian countries over trade balance, and it would like to inject impetus into trade with South...

China wants to continue to expand imports from South Asian countries amid its efforts to deepen reform and boost opening-up, Vice-Premier Hu Chunhua said on Thursday.

China has paid attention to the concerns of South Asian countries over trade balance, and it would like to inject impetus into trade with South...

19.06.2018

Political issues may hinder China-India oil alliance: experts

A plan by India to form a crude oil buyers' alliance with China could be a mutually beneficial deal for two of the world's largest crude importers, potentially leading to a greater say in global oil price setting, but it won't work unless the two countries can overcome major political...

A plan by India to form a crude oil buyers' alliance with China could be a mutually beneficial deal for two of the world's largest crude importers, potentially leading to a greater say in global oil price setting, but it won't work unless the two countries can overcome major political...

19.06.2018

Indians outperform Chinese in overseas corporate management

Indians seem to have outperformed Chinese in terms of their presence in the corporate management world, with more Indians holding CEO positions in large multinational companies in the US such as Google and Microsoft. What's the reason behind this disparity? The Global Times spoke with two businesspeople - one Indian,...

Indians seem to have outperformed Chinese in terms of their presence in the corporate management world, with more Indians holding CEO positions in large multinational companies in the US such as Google and Microsoft. What's the reason behind this disparity? The Global Times spoke with two businesspeople - one Indian,...

19.06.2018

Nepal looks toward China as a measure of last resort

After an exchange of high-level trips between Nepal and India, Nepalese Prime Minister K P Sharma Oli is to land in Beijing on Tuesday for a five-day state visit. It will be his second state visit since his accession to the Prime Minister’s Office after his party’s landslide victory in...

After an exchange of high-level trips between Nepal and India, Nepalese Prime Minister K P Sharma Oli is to land in Beijing on Tuesday for a five-day state visit. It will be his second state visit since his accession to the Prime Minister’s Office after his party’s landslide victory in...

Africa, Americas

19.06.2018

China, Libya discuss return of Chinese companies to African Country - reports

The foreign minister of Libya's UN-backed government, Mohamed Sayala, and Chinese Charge d'Affaires to Libya Wang Qimin discussed the potential return of Chinese companies to the conflict-torn African country, Chinese media reported.

The Libyan authorities have established a committee to look into suspended projects started by Chinese firms, and other steps to resume active cooperation...

The foreign minister of Libya's UN-backed government, Mohamed Sayala, and Chinese Charge d'Affaires to Libya Wang Qimin discussed the potential return of Chinese companies to the conflict-torn African country, Chinese media reported.

The Libyan authorities have established a committee to look into suspended projects started by Chinese firms, and other steps to resume active cooperation...

19.06.2018

China's top political advisor visits Chinese-invested industrial park in Uganda

China's top political advisor Wang Yang Thursday visited a Chinese-invested industrial park in central Uganda, encouraging more Chinese companies to develop business in Africa and improve localization level.

Wang, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), paid the visit to the Liaoshen Industrial Park in...

China's top political advisor Wang Yang Thursday visited a Chinese-invested industrial park in central Uganda, encouraging more Chinese companies to develop business in Africa and improve localization level.

Wang, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), paid the visit to the Liaoshen Industrial Park in...

19.06.2018

China and Ghana to increase cooperation

Yang Jiechi, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, met with Ghana's Foreign Minister Shirley Ayorkor Botchwey in Beijing on Tuesday.

Yang, who is also director of the Office of the Foreign Affairs Commission of the CPC Central Committee, said both countries have...

Yang Jiechi, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, met with Ghana's Foreign Minister Shirley Ayorkor Botchwey in Beijing on Tuesday.

Yang, who is also director of the Office of the Foreign Affairs Commission of the CPC Central Committee, said both countries have...

19.06.2018

Wang Yi Meets with Foreign Minister Ousainou Darboe of Gambia

On June 12, 2018, State Councilor and Foreign Minister Wang Yi met in Beijing with Foreign Minister Ousainou Darboe of Gambia.

Wang Yi said that since the resumption of diplomatic relations between China and Gambia more than two years ago, bilateral relations have maintained a momentum of rapid development. Last December,...

On June 12, 2018, State Councilor and Foreign Minister Wang Yi met in Beijing with Foreign Minister Ousainou Darboe of Gambia.

Wang Yi said that since the resumption of diplomatic relations between China and Gambia more than two years ago, bilateral relations have maintained a momentum of rapid development. Last December,...

19.06.2018

Chinese envoy showcases LatAm projects under Belt & Road Initiative

The Nestor Kirchner-Jorge Cepernic hydropower complex jointly built by China and Argentina will increase Argentina’s total installed power capacity by 6.5 percent, a Chinese envoy said Wednesday.

Upon completion, the 1,740-megawatt project will have an annual generation capacity of 4.95 billion kwh and create 20,000 jobs, said Ma Zhaoxu, China’s permanent...

The Nestor Kirchner-Jorge Cepernic hydropower complex jointly built by China and Argentina will increase Argentina’s total installed power capacity by 6.5 percent, a Chinese envoy said Wednesday.

Upon completion, the 1,740-megawatt project will have an annual generation capacity of 4.95 billion kwh and create 20,000 jobs, said Ma Zhaoxu, China’s permanent...

19.06.2018

Panamanian senior official says ties with China fruitful in past year

It has been a fruitful 12 months since China and Panama established diplomatic ties a year ago, said Panama's Vice Foreign Minister Luis Miguel Hincapie.

In an interview with Xinhua, Hincapie described the relationship as "successful and eventful," saying that a lot has happened in the relatively short span of time.

Given...

It has been a fruitful 12 months since China and Panama established diplomatic ties a year ago, said Panama's Vice Foreign Minister Luis Miguel Hincapie.

In an interview with Xinhua, Hincapie described the relationship as "successful and eventful," saying that a lot has happened in the relatively short span of time.

Given...

19.06.2018

Brewing Mexico-China romance set to stir tensions with US

In the crook of Mexico’s elbow lies the Isthmus of Tehuantepec, the country’s skinniest strip of land where the Atlantic and Pacific are just 200 kilometers apart. Winds from the west power electricity-generating turbines, the lush soil supports lemon, mango and other crops, and it is the...

In the crook of Mexico’s elbow lies the Isthmus of Tehuantepec, the country’s skinniest strip of land where the Atlantic and Pacific are just 200 kilometers apart. Winds from the west power electricity-generating turbines, the lush soil supports lemon, mango and other crops, and it is the heart of a...

19.06.2018

Beijing vows 'immediate' response as Trump backs $50bn in tariffs on Chinese goods

Washington has announced import levies targeting some $50 billion of goods from China after President Donald Trump gave the green light on Friday. China has warned it will retaliate.

The President signed off on the step after discussing the tariff list with senior White House officials, national-security officials and senior representatives...

Washington has announced import levies targeting some $50 billion of goods from China after President Donald Trump gave the green light on Friday. China has warned it will retaliate.

The President signed off on the step after discussing the tariff list with senior White House officials, national-security officials and senior representatives...

19.06.2018

Chinese, U.S. senior officials agree to promote ties

Yang Jiechi, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, met with U.S. Secretary of State Mike Pompeo on Thursday in Beijing.

Yang, also director of the Office of the Foreign Affairs Commission of the CPC Central Committee, said a healthy and stable development...

Yang Jiechi, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, met with U.S. Secretary of State Mike Pompeo on Thursday in Beijing.

Yang, also director of the Office of the Foreign Affairs Commission of the CPC Central Committee, said a healthy and stable development...

19.06.2018

C.H. Robinson eyes BRI to expand China business

US-based C.H. Robinson, a leading third-party logistics provider, seeks to expand its China business to ride on the demand created by the Belt and Road Initiative.

The company has just launched a trans-Eurasian rail service connecting nine terminals in China with eight cities in Europe under the BRI. Its trucks also transport goods...

US-based C.H. Robinson, a leading third-party logistics provider, seeks to expand its China business to ride on the demand created by the Belt and Road Initiative.

The company has just launched a trans-Eurasian rail service connecting nine terminals in China with eight cities in Europe under the BRI. Its trucks also transport goods...

Markets

19.06.2018

Oil mixed as OPEC cites uncertain market outlook for 2018

Oil prices were mixed on Tuesday, with U.S. crude gaining and Brent crude largely unchanged, as investors prepared for a key meeting of the OPEC producer group next week.

Brent crude futures dipped 3 cents to trade at $76.43 a barrel by 11:35 a.m. (1530 GMT), while U.S. West Texas Intermediate...

Oil prices were mixed on Tuesday, with U.S. crude gaining and Brent crude largely unchanged, as investors prepared for a key meeting of the OPEC producer group next week.

Brent crude futures dipped 3 cents to trade at $76.43 a barrel by 11:35 a.m. (1530 GMT), while U.S. West Texas Intermediate...

19.06.2018

Gold locked below $1,300 as market braces for Fed meeting

Gold prices remained locked just below $1,300 an ounce on Tuesday as investors waited for clues on the pace of U.S. interest rate rises from a Federal Reserve meeting this week.

A Fed statement and press conference expected from 1800 GMT on Wednesday could push gold out of the tight range...

Gold prices remained locked just below $1,300 an ounce on Tuesday as investors waited for clues on the pace of U.S. interest rate rises from a Federal Reserve meeting this week.

A Fed statement and press conference expected from 1800 GMT on Wednesday could push gold out of the tight range...

19.06.2018

Copper dips as inventories released, aluminium firmer

Copper eased for a third day on Tuesday as investors took profits, a big position in inventories eased and a labour settlement in Chile raised prospects for a deal at top mine Escondida.

Three-month copper on the London Metal Exchange closed down 0.5 percent in final open outcry activity at $7,222...

Copper eased for a third day on Tuesday as investors took profits, a big position in inventories eased and a labour settlement in Chile raised prospects for a deal at top mine Escondida.

Three-month copper on the London Metal Exchange closed down 0.5 percent in final open outcry activity at $7,222...

19.06.2018

Wheat, corn jump ahead of USDA data; soybeans plumb new low

U.S. wheat and corn futures climbed as much as 1 percent on Tuesday while soybeans turned slightly higher after touching the lowest levels since August as traders squared up positions ahead of a U.S. Department of Agriculture supply and demand report.

Analysts polled by Reuters expected the USDA at 11 a.m....

U.S. wheat and corn futures climbed as much as 1 percent on Tuesday while soybeans turned slightly higher after touching the lowest levels since August as traders squared up positions ahead of a U.S. Department of Agriculture supply and demand report.

Analysts polled by Reuters expected the USDA at 11 a.m....

19.06.2018

Dollar steadies after data backs view of gradual Fed rate hikes

The dollar steadied against a basket of currencies on Tuesday as data showed U.S. consumer prices rose in May, matching analysts’ forecasts and reinforcing the view the Federal Reserve would raise short-term interest rates gradually.

U.S. consumer prices rose marginally in May amid a slowdown in the pace of increases in...

The dollar steadied against a basket of currencies on Tuesday as data showed U.S. consumer prices rose in May, matching analysts’ forecasts and reinforcing the view the Federal Reserve would raise short-term interest rates gradually.

U.S. consumer prices rose marginally in May amid a slowdown in the pace of increases in...

19.06.2018

Crude oil futures down ahead of OPEC meeting, likely production hike

Crude oil prices ticked lower during European trading Friday morning, as the market weighed divisions among members of OPEC relative to loosening quotas under their production deal at a meeting in Vienna next week.

At 1058 GMT, the August ICE Brent crude futures contract was down 82 cents/b from Thursday's settle,...

Crude oil prices ticked lower during European trading Friday morning, as the market weighed divisions among members of OPEC relative to loosening quotas under their production deal at a meeting in Vienna next week.

At 1058 GMT, the August ICE Brent crude futures contract was down 82 cents/b from Thursday's settle,...

19.06.2018

Higher oil prices set to moderate consumption growth

Lower oil prices stimulated OECD consumption between 2015 and 2017 and played a big role in eliminating the global oil market surplus during the rebalancing phase of the cycle.

With oil prices up 70 percent over the last 12 months, however, higher prices are set to moderate OECD consumption and thereby...

Lower oil prices stimulated OECD consumption between 2015 and 2017 and played a big role in eliminating the global oil market surplus during the rebalancing phase of the cycle.

With oil prices up 70 percent over the last 12 months, however, higher prices are set to moderate OECD consumption and thereby...

19.06.2018

Gold tumbles to three-week low as investors bail out

Gold prices slumped to three-week lows on Friday as disappointed speculators liquidated long positions despite fresh trade skirmishes between the United States and China.

Some investors had taken long positions ahead of key central bank decisions this week, but gold only briefly surged to a one-month peak on Thursday of $1,309.30...

Gold prices slumped to three-week lows on Friday as disappointed speculators liquidated long positions despite fresh trade skirmishes between the United States and China.

Some investors had taken long positions ahead of key central bank decisions this week, but gold only briefly surged to a one-month peak on Thursday of $1,309.30...

19.06.2018

Copper eyes biggest weekly loss since April on China growth woes, trade tensions

Copper hit a one-week low on Friday while the dollar retained its strength, leaving the market set for its biggest weekly drop since April on concerns about slowing growth in top metals buyer China and the impact of U.S. trade tariffs.

President Donald Trump on Friday announced that the United States...

Copper hit a one-week low on Friday while the dollar retained its strength, leaving the market set for its biggest weekly drop since April on concerns about slowing growth in top metals buyer China and the impact of U.S. trade tariffs.

President Donald Trump on Friday announced that the United States...

19.06.2018

Soybeans hit 1-year low on benign U.S. weather, China trade worries

Chicago soybeans extended losses on Friday to their lowest in almost a year as favourable crop weather in the U.S. Midwest raised hopes for a bumper harvest, while concerns about renewed trade tensions with China put a cloud over export prospects.

Corn eased to new multi-month lows while wheat fell for...

Chicago soybeans extended losses on Friday to their lowest in almost a year as favourable crop weather in the U.S. Midwest raised hopes for a bumper harvest, while concerns about renewed trade tensions with China put a cloud over export prospects.

Corn eased to new multi-month lows while wheat fell for...

19.06.2018

Dollar slips vs yen as China trade tensions weigh

The U.S. dollar slipped against the Japanese yen on Friday, as President Donald Trump announced hefty tariffs on $50 billion of Chinese imports and Beijing threatened to respond in kind, raising tensions between the world's two largest economies.

The dollar slipped 0.07 percent to 110.54 yen, retreating from a three-week high...

The U.S. dollar slipped against the Japanese yen on Friday, as President Donald Trump announced hefty tariffs on $50 billion of Chinese imports and Beijing threatened to respond in kind, raising tensions between the world's two largest economies.

The dollar slipped 0.07 percent to 110.54 yen, retreating from a three-week high...

19.06.2018

Chinese yuan weakens to 6.4156 against USD Wednesday

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 35 basis points to 6.4156 against the U.S. dollar Wednesday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central...

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 35 basis points to 6.4156 against the U.S. dollar Wednesday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central...