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☆ Xi and Putin are seeking to expand the alliance of BRICS nations to challenge the global dominance of the US and the dollar
▼ + stars: | 2023-08-23 | by ( Tom Porter | ) www.businessinsider.com time to read: +7 min

China's Xi Jinping is in South Africa this week for the BRICS summit. Addressing the BRICS summit by video link Tuesday, Russian President Vladimir Putin took swipes at the West, and said the summit represented the "global majority." Together, they make up around 40% of the world's population, around $27.7 trillion of the global economy, and are seen to represent the so-called "Global South" of southern hemisphere nations. Taking on the dollarThere are also proposals on the table to create a BRICS currency to challenge the global dominance of the dollar. AdvertisementAdvertisementChina and Russia may have ambitious plans for the BRICS group, but realizing them still appears some distance away.

Persons: China's, Jinping, Putin, Vladimir Putin, Graeme Thompson, China Xi, Cyril Ramaphosa, PHILL MAGAKOE, Xi Jinping, Steve Tsang, Thompson, Xi, Wang Wentao, Luiz Inacio Lula da Silva, Luiz Inácio Lula da Silva Organizations: Service, Eurasia Group, South, Getty Images, US, SOAS China Institute, University of London, CNN, Russia, Anadolu Agency, Getty Locations: South Africa, China, Russia, Wall, Silicon, Johannesburg, Brazil, India, AFP, Western, Iran, Saudi Arabia, Indonesia, Ukraine, Beijing, Pacific, United States

☆ BRICS summit: China's Xi visits South Africa in second trip abroad this year
▼ + stars: | 2023-08-20 | by ( Nectar Gan | ) edition.cnn.com time to read: +6 min

For Xi, the first in-person summit of the BRICS grouping since the pandemic presents another opportunity to advance that vision. The bloc’s members – Brazil, Russia, India, China and South Africa – account for more than 40 percent of the global population. “Xi is going to be the center of the BRICS summit, given that Vladimir Putin is not attending in person,” he said. His last journey to the continent – also for the BRICS summit in South Africa – in 2018 includes a whirlwind of visits to Senegal, Rwanda and Mauritius, spanning almost every corner of Sub-Saharan Africa. Instead, the Chinese leader will co-chair the China-Africa Leaders’ Dialogue with his South African counterpart Cyril Ramaphosa on the sidelines of the BRICS summit, China’s Foreign Ministry said.

Persons: Xi Jinping, ” Vladimir Putin, strongmen, –, “ Xi Jinping, ”, Steve Tsang, Tsang, South Africa Chen Xiaodong, BRICS, ” Chen, Joe Biden, Camp Davis, China’s, Paul Nantulya, Xi, Vladimir Putin, Putin, Nantulya, CNN Yun Sun, ” Nantulya, Cyril Ramaphosa Organizations: CNN, South Africa, US, SOAS China Institute, University of London, Africa Center, Strategic Studies, ”, Stimson, Initiative, Institutes, South Africa –, ’ Locations: South, United States, Moscow, – Brazil, Russia, India, China, South Africa, Japan, South Korea, Camp, Asia, South China, Beijing, Ukraine, Washington, Africa, Senegal, Rwanda, Mauritius, Saharan Africa

☆ Country Garden stock reaches record low, Chinese property giant flags loss of up to $7.6 billion as it nears default
▼ + stars: | 2023-08-11 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Country Garden warned investors in a Hong Kong stock exchange filing Thursday that it would likely record a loss of 45 billion to 55 billion Chinese yuan (about $6.2 billion to $7.6 billion) for the six months through June. The disclosure lays bare the financial woes currently facing Country Garden, a massive builder of hundreds of thousands of homes annually across China. Country Garden did not immediately respond to a request for comment. As of early afternoon in Hong Kong Friday, its stock had reached a record low of 95 Hong Kong cents, below its previous low of 98 Hong Kong cents reached in October 2008. Cash crunchEarlier this week, Country Garden stoked concerns by missing two bond payments, according to analysts.

Persons: ” Morningstar, Jeff Zhang, Kaven Tsang, ”, Zhang, Morningstar, Yang Huiyan, Yang, won’t, Moody’s, Fang xing, ICHPL, Alfredo Montufar, “ Organizations: Hong Kong CNN, Garden, CNN, Hong, China’s, “, Hong Kong, Bloomberg Locations: Hong Kong, China, Foshan, Guangdong province, Real

☆ Country Garden default? China's property crisis deepens as developer misses bond payments
▼ + stars: | 2023-08-09 | by ( Laura He | ) edition.cnn.com time to read: +5 min

The latest major industry player to get into trouble is Country Garden, once China’s largest developer. Several of Country Garden’s yuan-denominated bonds were suspended from trading in Shanghai and Shenzhen on Tuesday after they dropped by more than 20%. Country Garden did not respond to a request from CNN for comment. An aerial view of a residential project developed by Country Garden Holdings is seen in Zhenjiang, Jiangsu province on October 31, 2021. Property crisis deepensChina’s property industry has been mired in a historic downturn in the past two years.

Persons: “, Fang Dongxu, ”, Edward Moya, Moody’s, Kaven Tsang, Li Qiang Organizations: Hong Kong CNN —, Reuters, CNN, Country Garden Holdings, China Index Academy, Oanda, China’s, People’s Bank of Locations: Hong Kong, Shanghai, Shenzhen, Zhenjiang, Jiangsu province, China, Moody’s, Beijing, People’s Bank of China

☆ China signals more support for real estate with a 'big change' in tone
▼ + stars: | 2023-07-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Construction on a real estate project in Yantai, Shandong province, gets under way on July 8, 2023. Nurphoto | Nurphoto | Getty ImagesBEIJING — China is changing its tone on the struggling real estate sector, paving the way for policy support. The statement reflects a "much clearer understanding about the seriousness of the situation," said Qin Gang, executive director of China real estate research institute ICR. He expects policies beneficial to the real estate market and consumption will come out in coming days. So far, the biggest real estate policy change has been this month's extension of measures to support developers, which were first revealed in November.

Persons: Larry Hu, Hu, Qin Gang, Ricky Tsang, China's, Tsang, It's, Zong Liang, Zong, Tommy Wu, Wu Organizations: Nurphoto, Getty, CNBC, Macquarie, People's Bank of China, Qin, Seng Property Development, National Bureau of Statistics, Bank of China Locations: Yantai, Shandong province, BEIJING, China

REUTERS/Stringer/File PhotoSummary Countries at odds over which should pay climate financeEU wants China to contribute to climate fundsChina among countries not currently obliged to payBRUSSELS/BEIJING, July 21 (Reuters) - Record-breaking heat in China. The EU, today the biggest contributor of climate finance, has lobbied to expand the pool of donor countries that provide it. Climate finance refers to money that wealthy countries pay toward helping poorer nations reduce CO2 emissions and adapt to a hotter, harsher world. Advocates for the change argue that an expansion needs to happen before a new - and, likely, far bigger - U.N. target for climate finance kicks in after 2025. "It would earn China diplomatic clout, and pressure Western donors to raise their stakes on climate finance," he said.

Persons: Stringer, John Kerry, Janet Yellen, Kerry, Li Qiang, Pa'olelei Luteru, Luteru, Byford Tsang, Kate Abnett, Valerie Volcovici, Katy Daigle, Stephen Coates Organizations: REUTERS, BRUSSELS, U.S, Union, Reuters, EU, United Arab Emirates, of Small, WHO, United, Climate Cooperation, Initiative, Bridgetown Initiative, Thomson Locations: Hangzhou, Zhejiang province, China, EU, BEIJING, COP28, Dubai, Beijing, U.S, Brazil, Saudi Arabia, Qatar, Singapore, States, United States, South Korea, U.N, Barbados, Bridgetown, Brussels

☆ It remains politically challenging for China to rein in coal-fired power plants, says analyst
▼ + stars: | 2023-07-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt remains politically challenging for China to rein in coal-fired power plants, says analystByford Tsang, senior policy advisor at E3G, speaks to CNBC's Dan Murphy and Samantha Vadas about U.S. climate envoy John Kerry's climate diplomacy push in China.

Persons: Byford Tsang, CNBC's Dan Murphy, Samantha Vadas, John Kerry's Locations: China

☆ India downplays SCO Summit but Putin and Xi may not be complaining
▼ + stars: | 2023-07-05 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —Last year, the world watched closely as China’s Xi Jinping, Russia’s Vladimir Putin, Narendra Modi of India and other world leaders within a Moscow-friendly group gathered in the Uzbek city of Samarkand for a high-profile, two-day summit. World leaders pose for a photo during the Shanghai Cooperation Organization summit in Samarkand, Uzbekistan, on September 16, 2022. It remains unknown how tight a grip Putin now has on power in Moscow, and although he attended last year’s SCO summit, he has rarely left Russia since his invasion of Ukraine. Face-to-face meetings, however, can also provide opportunity for world leaders to talk out sensitive issues or push on points of contention that may be handled less delicately in a virtual setting. Given their respective ties with Moscow, both China and India have received pressure from the West to limit their relations or even push Putin toward peace.

Persons: Hong Kong CNN —, Xi, Russia’s Vladimir Putin, Narendra Modi, Putin –, Putin, Modi –, –, Modi, ”, Manoj Joshi, India didn’t, Murat Kula, what’s, Wagner, Steve Tsang, It’s, “, Moritz Rudolf, Paul Tsai, Tsang, Putin “ Organizations: Hong Kong CNN, Shanghai Cooperation Organization, SCO, “, Observer Research, Anadolu Agency, Getty, SOAS China Institute, University of London, Moscow, Paul Tsai China Center of, Yale Law School, Central, Soviet, Ukraine Locations: Hong Kong, India, Moscow, Uzbek, Samarkand, Ukraine, Eurasia, Russia, China, New Delhi, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, –, Iran, Washington, ”, Europe, Beijing, Belarus, Central Asia, Soviet Union

☆ Hong Kong pro-democracy radio closes in face of "dangerous" pressure
▼ + stars: | 2023-06-30 | by ( Jessie Pang | Thomson Reuters | Jessie Pang Joined Reuters In After An Internship. She Covers Hong Kong With A Focus On Politics | ) www.reuters.com time to read: +3 min

HONG KONG, June 30 (Reuters) - Hong Kong's pro-democracy online Citizens' Radio station will cease operations on Friday owing to what its founder described as a "dangerous" political situation and the freezing of its bank account. Tsang also said his radio station's bank account had been frozen, without giving specifics. Hong Kong authorities have repeatedly said that media freedoms are respected and enshrined in city laws. In 2019, four masked men wielding bats and hammers barged in to the radio station after smashing through its glass door. Hong Kong returned to Chinese rule in 1997 under a "one country, two systems" agreement aimed a preserving its freedoms for 50 years.

Persons: Kong's, Tsang Kin, Tsang, Hong, Cédric Alviani, OFCA, Jimmy Lai, Hong Kong, Jessie Pang, James Pomfret, Robert Birsel Organizations: Citizens, Apple Daily, Radio, Media, Hong Kong, Communications Authority, Reuters, Thomson Locations: HONG KONG, Hong, China, Hong Kong, East Asia

☆ China is set to shatter its wind and solar target five years early, new report finds
▼ + stars: | 2023-06-29 | by ( Caolán Magee | ) edition.cnn.com time to read: +3 min

CNN —China is on track to double its wind and solar energy capacity and hit its 2030 clean energy targets five years early, a new report has found. Solar capacity in China is now greater than the rest of the world combined. “China is rapidly and successfully scaling up its deployment of renewable power and has become the largest investor into renewables globally. This is both a cause and consequence of rapidly falling costs of renewable energy as compared to coal power,” he said. Tsang hopes that relative cheapness of renewable energy will persuade China to kick its coal habit.

Persons: Dorothy Mei, ” Martin Weil, Xi, Greg Baker, Byford Tsang, ”, Tsang Organizations: CNN, Global Energy Monitor, Center for Research, Energy, Clean Air, Getty, IEA Locations: China, Beijing, AFP, ERG

☆ Analysis: China says it wants peace in Ukraine, but is it only on Russia's terms?
▼ + stars: | 2023-05-29 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +7 min

But Li’s trip has also laid bare the divisions between China and Europe when it comes to how peace can be reached — and served to underline Beijing’s close alignment with Moscow. As such, that’s “not on the table for China,” Tsang said. That stance has horrified much of Europe, and Li’s tour comes as China has been attempting to repair relations there. “No one will do anything against us behind Ukraine’s back, because we have built trusting relationships with all our key partners,” he added. “The crucial question is what message from Europe — Kyiv, Warsaw, Berlin, Paris, and Brussels — Li will deliver in Moscow and Beijing,” he said.

☆ Can the Zibo barbecue frenzy save China from economic crises?
▼ + stars: | 2023-05-15 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Zhu Zheng/Xinhua/Getty ImagesSo many tourists flocked into Zibo, now dubbed China’s outdoor barbecue capital, that even the local tourism authorities urged visitors to go elsewhere. A few may, but most won’t.”A shop owner shows off grilled meat during a barbecue festival on April 29, 2023 in Zibo, eastern China. The city Zibo became a tourism hot spot after videos of its barbecue went viral online. China’s economy is navigating a growing array of challenges. The informal trade might reduce unemployment temporarily, and give people feeling poorer a boost, but it “won’t save China’s economy,” Tsang said.

☆ China may have to bail out one of its poorest provinces
▼ + stars: | 2023-04-27 | by ( Laura He | ) edition.cnn.com time to read: +9 min

Hong Kong CNN —One of China’s poorest and most indebted provinces has admitted defeat in trying to sort out its finances and is appealing to Beijing for help to avert default. Guizhou, located in a mountainous region of southwest China, has hired a top state-owned distressed debt fund, China Cinda Asset Management, to resolve its “urgent” problems. China’s local governments are struggling with trillions of dollars of debt, after three years of strict pandemic controls and a real estate crash drained their coffers. The Pingtang Bridge links two cities in southwest China's Guizhou province. In China, most local government liabilities are composed of “hidden debt” issued by their financing arms.

☆ With Zelensky call, Xi Jinping steps up bid to broker peace – but does he have a plan?
▼ + stars: | 2023-04-27 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +7 min

Chinese leader Xi Jinping and Russian President Vladimir Putin shake hands after signing a joint statement in Moscow on March 21, 2023. But another set of optics, Beijing’s close rapport with Moscow, has already embedded a deep skepticism in the West over China’s potential role as mediator. Since Russia’s invasion of Ukraine, Xi has claimed China’s neutrality, but has spoken with Putin five times – including twice in person – without picking up the phone to call Zelensky, despite a years-long strategic-level partnership between their countries. It calls for a ceasefire but includes no provision that Moscow first withdraw its troops from Ukrainian land. But this rapport has also been the reason that some leaders, including Zelensky and Macron, have expressed hope that Xi could leverage his clout to influence Russia to respect international law.

☆ China resorts to extraordinary measures to soothe entrepreneurs amid deep retreat of private business
▼ + stars: | 2023-04-17 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —After years of regulatory crackdowns and draconian Covid curbs, private entrepreneurs in China are low on enthusiasm. If anything, the private sector seems to be retreating even more so far this year. State-led investment surged 10.5%, while private investment increased a mere 0.8%. In 2022, state investment rose 10.1%, while private investment ticked up 0.9%. “We always regard private enterprises and private entrepreneurs as people on our own side,” Xi said.

For now, by building in Ohio, Foxconn can offer customers access to U.S. federal incentives under the Inflation Reduction Act, Daiwa Capital Markets analyst Kylie Huang said. That's a selling point as traditional automakers juggle building gasoline-powered vehicles with plans to build their own EV capacity. "If they don't get one this year, next year will be more difficult," Huang said of Foxconn's search for an EV contract with a traditional automaker. "Sooner or later, maybe the top, traditional (automakers) say, 'Hey, I want to become a product marketing company. Foxconn wants to build around 300,000 EVs at the plant, Ian Upton, director of production control at Foxconn Ohio, told Reuters.

☆ 'I don't trust it:' Vaccine hesitancy lingers even as China COVID cases surge
▼ + stars: | 2022-12-19 | by ( David Kirton | ) www.reuters.com time to read: +4 min

"I don't trust it," she said, speaking on the condition that only her first name be used. It has also yet to introduce its own version of an mRNA vaccine. "At least a half of doctors and educated people wanted to get the mRNA ones and refused to get the Chinese ones," Lei said. "After a while, people see no hope and also they are kind of forced to get the Chinese ones, so they had to accept it. Lei said many of her friends are looking to visit the neighbouring Chinese territory of Macau, where mainlanders can receive mRNA vaccines.

☆ What happened to former Chinese leader Hu Jintao?
▼ + stars: | 2022-10-28 | by ( Analysis Cnn Staff | ) edition.cnn.com time to read: +8 min

China's former leader Hu Jintao is lifted from his chair by a young aide at the closing of the Communist Party Congress on Saturday. Neither has the incident been reported in Chinese language media, or discussed on Chinese social media, where conversations around senior leaders are highly restricted. Former Chinese leader Hu Jintao is taken by the arm and escorted out. “For whatever reasons, Xi ordered Hu to be escorted out when he must have thought that Hu might not behave exactly as Xi would have wanted,” he said. Former Chinese leader Hu Jintao pats the shoulder of his protege, Premier Li Keqiang.

☆ China says it's running on a new version of democracy that doesn't rely on elections. Experts say it's just another mind game.
▼ + stars: | 2022-10-22 | by ( Matthew Loh | ) www.businessinsider.com time to read: +12 min

He first introduced the term "whole-process democracy" to China in a 2019 speech. However, by November that year, "whole-process democracy" was mentioned in 128 People's Daily articles, per CMP. "China's whole-process people's democracy integrates process-oriented democracy with results-oriented democracy, procedural democracy with substantive democracy, direct democracy with indirect democracy and people's democracy with the will of the state," says China's white paper on the subject, per CGTN. Semantics aside, a key point to note is that "whole-process democracy" plays down the need for elections. Even so, Chong said, whole-process democracy might still help the CCP give the impression that it cares about the average citizen.

☆ The Hong Kong property market is probably expecting some downward pressure, says JLL
▼ + stars: | 2022-10-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Hong Kong property market is probably expecting some downward pressure, says JLLJoseph Tsang of the real estate company discusses the city's buyer's stamp duty refund for overseas talent.

☆ A fighter pilot's promotion shows how China's navy is learning from the US as its aircraft carrier fleet grows
▼ + stars: | 2022-10-17 | by ( Minnie Chan | South China Morning Post | ) www.businessinsider.com time to read: +5 min

The promotion of flying officers to command positions on China's carriers mirrors the US approach. A CCTV documentary highlights another similarity, with the Chinese navy now training its own pilots. "As a user of ship-borne weapons, I would share my [naval flight experiences] with comrades working in the equipment department and try efforts to improve our operational system, finding a better way to help China's aircraft carrier undertaking," Xu told a documentary on CCTV. The launch in June of China's third and most advanced carrier, the Fujian, has increased the demand for more outstanding carrier-based pilots like Xu. The new aircraft combat platform's electromagnetic catapults — similar to those on the USS Gerald R. Ford supercarrier — means the PLA Navy will have to master a new launch and recovery system.

☆ Analysis: As Putin escalates Ukraine war, China stands awkwardly by him
▼ + stars: | 2022-09-22 | by ( Brenda Goh | ) www.reuters.com time to read: +4 min

China will instead dig in on its awkward stance of calling for dialogue and peaceful resolution while refusing to condemn Russia's invasion of Ukraine, they said. But China has been careful not to provide any direct material support that could trigger Western sanctions against it. "I don't see how different any new position will be ... China doesn't support the war, it doesn't support conflict, that's been very clear from the beginning," said Henry Wang Huiyao, founder of the Beijing-based think tank Center for China and Globalization. Russia says its actions in Ukraine are a "special operation" to degrade its neighbour's military capabilities and root out people it calls dangerous nationalists. Although China probably hoped for a short war, Putin's battlefield moves in Ukraine - seeking to counter recent defeats - are unlikely to concern Beijing or change the substantive nature of the countries' relationship, analysts said.

☆ Альпинистка из Гонконга установила мировой рекорд в скоростном восхождении на Эверест
▼ + stars: | 2021-05-28 | by ( Mld Media Srl | ) noi.md time to read: +1 min

Альпинистка из Гонконга Цанг Инь Хунг (Tsang Yin Hung "Ada") совершила восхождение на вершину Эвереста менее чем за 26 часов, став тем самым самой быстрой восходительницей в мире. По информации Гьянендры Шреста, офицера связи в базовом лагере, Цанг Инь начала свое восхождение в 13:20 в субботу и достигла вершины в 15:10 в воскресенье. По словам Шреста, точное время её восхождения составило 25 часов и 50 минут. Прошлый рекорд был установлен в 2018 году, когда на вершину за 39 часов и 6 минут поднялась непальская альпиниста Фунджо Джангму Лама (Phunjo Jhangmu Lama). Также отмечается, что для Цанг Инь это уже второе восхождение на Эверест, ранее она поднималась на вершину 21 мая 2017 года.

Persons: Цанг Инь Хунг, Гьянендры Шрест, Цанг Инь, Шрест, Фунджо Джангму Лама, Валентин Сипавин Locations: Гонконг, Эверест

☆ Un nou record pe Everest. Tsang Yin-hung a devenit cea mai rapidă femeie care a urcat cel mai înalt vârf din lume
▼ + stars: | 2021-05-27 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: 1 min

Tsang mai trebuie să înainteze o cerere către Guinness World Records pentru a primi certificarea performaţei sale. Până la reuşita alpinistei din Hong Kong cea mai rapidă femeie care a cucerit Everestul a fost nepaleza Phunjo Jhangmu Lama care a finalizat urcarea în 39 de ore şi 6 minute, scrie Mediafax. În 2017, Tsang a devenit prima femeie din Hong Kong care a ajuns pe vârf. Nepal a eliberat anul acesta un număr record de permise de escaladarea a celui mai înalt vârf din lume, după ce sezonul de anul trecut a fost anulat din cauza pandemiei. Până în prezent aproximativ 350 de persoane au atins vârful în acest sezon, a declarat departamentul de turism din ţară.

Persons: Tsang Organizations: Guinness World Records, Mediafax Locations: Nepalul, Hong Kong, Everestul, Nepal, ţară

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