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☆ China will accelerate building of world-class military, strong strategic deterrent, Xi says
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Oct 16 (Reuters) - China will accelerate the building of a world-class military and strengthen its ability to build a strategic deterrent capability, President Xi Jinping said on Sunday at the opening of the once-in-five-year Communist Party Congress in Beijing. China must adhere to the party's absolute leadership of the military, Xi said in a speech before some 2,300 delegates at the Great Hall of the People. Register now for FREE unlimited access to Reuters.com RegisterReporting by Yew Lun Tian; Writing by Martin Quin Pollard; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ China will accelerate building of world-class military, strong strategic deterrent - Xi
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: 1 min

☆ Factbox: Key Xi quotes at China's 20th Communist Party Congress
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +6 min

Chinese President Xi Jinping speaks during the opening ceremony of the 20th National Congress of the Communist Party of China, at the Great Hall of the People in Beijing, China October 16, 2022. Register now for FREE unlimited access to Reuters.com Register"We persist in striving for the prospect of peaceful reunification with the greatest sincerity. "Corruption is the biggest cancer that harms the vitality and combat effectiveness of the party, and anti-corruption is the most thorough self-revolution. FOREIGN POLICY"We have comprehensively promoted major-country diplomacy with Chinese characteristics ... and unswervingly opposed any unilateralism, protectionism and bullying. POPULATION"We will establish a policy system to boost birth rates and pursue a proactive national strategy in response to population ageing."

☆ China must ensure Hong Kong is ruled by patriots - Xi
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Oct 16 (Reuters) - China must ensure Hong Kong is ruled by patriots and China will support Hong Kong in integrating with the mainland, Chinese President Xi Jinping said on Sunday at the opening of the once-in-five-year Communist Party congress in Beijing. "One country, two systems" is the best system for Hong Kong and must be adhered to in the long run, Xi said in a speech to around 2,300 delegates at the Great Hall of the People. Register now for FREE unlimited access to Reuters.com RegisterReporting by Yew Lun Tian; Writing by Martin Quin Pollard; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ Taiwan says it will not back down on its sovereignty
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +1 min

A Taiwan flag can be seen at Liberty Square in Taipei, Taiwan, July 28, 2022. REUTERS/Ann WangTAIPEI, Oct 16 (Reuters) - Taiwan will not back down on its sovereignty or compromise on freedom and democracy, and its people clearly oppose Beijing's idea of "one country, two systems" management for Taiwan, the self-ruled island's presidential office said on Sunday. The statement came shortly after Chinese President Xi Jinping said in a speech at the opening of a the Communist Party Congress in Beijing that it is up to the Chinese people to resolve the Taiwan issue and China will never renounce the use of force over Taiwan. Maintaining peace and stability in the Taiwan Strait and the region is the common responsibility of both sides and meeting on the battlefield is not an option, Taiwan's presidential office said in the statement. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ben Blanchard; Writing by Martin Quin Pollard; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ China ex-official Zhang makes first appearance since sexual assault claim
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Oct 16 (Reuters) - Chinese former Vice Premier Zhang Gaoli made his first public appearance on Sunday since Chinese tennis star Peng Shuai accused him of sexual assault last year, attending the 20th Communist Party Congress. Her post led the Women's Tennis Association to suspend tournaments in China and caused an international outcry over her safety. Hu, 79, slightly unsteady but appearing healthy, followed immediately behind Xi onto the stage and sat next to Xi. Other retired leaders on the rostrum included other former members of the party's elite Standing Committee, which rules China, including Jia Qinglin and Zeng Qinghong. Register now for FREE unlimited access to Reuters.com RegisterReporting by Yew Lun Tian; Writing by Ben Blanchard and William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ Xi vows to prioritise environment, protect nature and promote green lifestyles
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Oct 16 (Reuters) - President Xi Jinping on Sunday said China will give priority to environmental protection and promoting green lifestyles, and that the conservation of nature was an essential part of building a modern socialist country. "Ecological and environmental protection has undergone a historical, transformational and comprehensive change - our motherland's skies are bluer, the mountains are greener and the water is clearer," Xi told more than 2,300 delegates. Xi vowed last year China - the world's biggest source of climate-warming greenhouse gases - would achieve carbon neutrality by 2060 after bringing emissions to a peak by the end of this decade. He told delegates China's carbon peak and neutrality targets would be implemented steadily and in accordance with the country's energy resources. China will support low-carbon industries, pursue an "energy revolution" and build a new energy system while continuing to promote the "clean and efficient use of coal", Xi said.

"Given the economic and social strain caused by sticking to an increasingly unpopular COVID zero policy, Xi's speech might sound defensive to many Chinese citizens, insisting that the Party has their best interests in mind. ALFRED WU, ASSOCIATE PROFESSOR, LEE KUAN YEW SCHOOL OF PUBLIC POLICY, NATIONAL UNIVERSITY OF SINGAPORE"It is obvious that security is Xi's greatest concern. ZHIWU CHEN, PROFESSOR OF FINANCE, UNIVERSITY OF HONG KONG"One significant change is to de-emphasise economic development and economic reform. BATES GILL, PROFESSOR, DEPARTMENT OF SECURITY STUDIES AND CRIMINOLOGY, MACQUARIE UNIVERSITY, SYDNEY"This speech said 'continuity' and full speed ahead. "But this was not intended as a policy speech.

Passengers help a baby wear a mask at the Shanghai railway station in China, as the country is hit by an outbreak of the novel coronavirus, February 9, 2020. REUTERS/Aly SongBEIJING, Oct 16 (Reuters) - China will enact policies to boost its birth rate, President Xi Jinping said on Sunday, as policymakers worry that an imminent decline in China's population could hurt the world's second-biggest economy. "We will establish a policy system to boost birth rates and pursue a proactive national strategy in response to population ageing," Xi told some 2,300 delegates in a speech opening the once-in-five-year Communist Party Congress in Beijing. Its fertility rate of 1.16 in 2021 was below the 2.1 OECD standard for a stable population and among the lowest in the world. Still, the desire among Chinese women to have children is the lowest in the world, a survey published in February by think-tank YuWa Population Research showed.

☆ China will never renounce right to use force over Taiwan, Xi says
▼ + stars: | 2022-10-16 | by ( Yew Lun Tian | ) www.reuters.com time to read: +2 min

BEIJING, Oct 16 (Reuters) - It is up to the Chinese people to resolve the Taiwan issue and China will never renounce the right to use force but will strive for a peaceful resolution, President Xi Jinping said on Sunday at the opening of a major party meeting. Tensions rose dramatically in August after China staged war games near Taiwan following the visit to Taipei of U.S. House Speaker Nancy Pelosi. "Resolving the Taiwan issue is the Chinese people's own business, and it up to the Chinese people to decide," he said. "The historical wheels of national reunification and national rejuvenation are rolling forward, and the complete reunification of the motherland must be achieved, and it must be achieved!" In her national day speech on Monday, Taiwan President Tsai Ing-wen said war between Taiwan and China was "absolutely not an option" and reiterated her willingness to talk to Beijing.

☆ China’s Communist Party Faces Up to Slower-Growth Years Ahead
▼ + stars: | 2022-10-15 | by ( Brian Spegele | ) www.wsj.com time to read: 1 min

Sun Yeli, a spokesman for the Communist Party congress, said the pace of economic growth isn’t the only important metric of China’s economic health. BEIJING—China’s Communist Party said it was prepared to accept lower rates of economic growth as it sought to manage longer-term risks, on the eve of a political conclave that will help to chart the country’s path in the years ahead. On Sunday, the party will convene the 20th party congress, a twice-a-decade gathering of top leaders, at which President Xi Jinping is widely expected to break with recent precedent and secure a third term in power.

☆ China's Xi to open 20th Communist Party Congress
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +3 min

Visitors walk past a screen showing Chinese President Xi Jinping at the Museum of the Communist Party of China in Beijing, China October 13, 2022. REUTERS/Florence LoBEIJING, Oct 16 (Reuters) - Chinese President Xi Jinping is to open the 20th Communist Party Congress on Sunday, a week-long event where he is widely expected to win a third leadership term and cement his place as the country's most powerful ruler since Mao Zedong. REVOLUTIONARY'S SONThe son of a Communist Party revolutionary, Xi has reinvigorated a party that had grown deeply corrupt and increasingly irrelevant, expanding its presence across all aspects of China, with Xi officially its "core". The twice-a-decade congress is expected to reconfirm Xi as party general secretary, China's most powerful post, as well as chairman of the Central Military Commission. The day after the congress ends on Saturday, Xi is expected to introduce his new Politburo Standing Committee, a seven-person leadership team.

☆ Xi set to open party congress at challenging time for China
▼ + stars: | 2022-10-14 | by ( Tony Munroe | ) www.reuters.com time to read: +5 min

China's President Xi Jinping attends a wreath laying ceremony on Tiananmen Square to mark Martyrs' Day on the eve of the National Day in Beijing, China September 30, 2022. Still, diplomats, economists and analysts spoken to by Reuters say Xi is set to consolidate his grip on power. In securing a third term Xi breaks with the two-term precedent of recent decades. Also breaking with norms: no successor to Xi, 69, is expected to be identified, analysts say, which would indicate he plans to remain in power even longer. Still, analysts say, the views of any individual matter less nowadays as Xi has sidelined those seen as "reformers" in favour of his more state-driven and nationalistic economic policies.

Then came the pandemic and a property crisis, and with them, clear evidence of the limits of the debt-fuelled, investment-driven model that had propelled China's economy and businesses like Shores'. "If there is no investment, consumption will be like a tree without roots," said Jia, who previously led a finance ministry think tank. Many uncertainties hang over China's economy: the zero-COVID policy, a crackdown on tech and other industries, geopolitical tensions and rising borrowing costs in export markets. China is widely expected to miss this year's 5.5% GDP growth target and Natixis estimates growth may not even top 3% a year into Xi's next mandate. Oxford Economics expects average annual GDP growth this decade to halve from the 1999-2019 average to 4.5% and slow to 3% in the decade after.

☆ Asian shares track Wall Street higher as jitters abound
▼ + stars: | 2022-10-14 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 1.6% in early Asia trade. Offshore, risk appetite is already softening, with U.S. S&P 500 futures sliding 0.1% while the Nasdaq futures falling 0.2%. Wall Street had a volatile session, after initial sell-off on the data proved short-lived with technical support and short-position covering helping stocks stage a strong rebound. Futures have also suggested that rates would now peak at 5%, bringing them to levels not seen since 2007. read moreOil prices fell in early Asian trade.

☆ Qazi: China's economy is at one of its weakest points in recent memory
▼ + stars: | 2022-10-14 | 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 EmailQazi: China's economy is at one of its weakest points in recent memoryShehzad Qazi of the China Beige Book discusses the state of China's economy and whether there may be any easing of the government's Zero COVID policy announced during the National Party Congress, where Xi Jinping is set to cement a third term as leader.

☆ Take Five: Calm or calamity?
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +5 min

Traders are back on Japanese yen intervention watch, while the U.S. earnings season and a congress of China's ruling Communist Party kick off. Growing expectations of a government u-turn on most of its unfunded tax cuts should end much of the pain. The carnage in British gilts has exposed vulnerabilities in the pensions sector, shining a light on financial stability risks. The IMF warns of "disorderly asset repricings" and "financial market contagion." A market slide has moderated stock valuations, but a downgrade in the earnings outlook could dampen equities' attractiveness.

☆ China to ease share buyback rules amid a sluggish market
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +1 min

The China Securities Regulatory Commission (CSRC) published the draft rules as China's benchmark CSI300 Index (.CSI300) has lost more than 20% so far this year amid gloomy growth outlook. The announcement, which could improve market sentiment, comes ahead of China's politically key Communist Party Congress opening on Sunday. Buybacks can be triggered when a company's shares fall 25% within 20 consecutive trading days, according to draft rules soliciting public opinions. In addition, a company will be allowed to implement share buybacks six months after listing, according to the rules, compared with 12 months now. The existing bar for share buybacks is relatively high, and the rule changes are designed to facilitate such behaviors, the CSRC said.

☆ China's economy is 'in deep trouble' as Xi heads to Communist Party congress
▼ + stars: | 2022-10-14 | by ( Laura He | ) edition.cnn.com time to read: +7 min

“Xi’s leadership is not causal for China’s economic rise,” said Sonja Opper, a professor at Bocconi University in Italy who studies China’s economy. Bloomberg/Getty ImagesThe International Monetary Fund recently cut its forecast for China’s growth to 3.2% this year, representing a sharp slowdown from 8.1% in 2021. Under Xi, China has not only become more insular, but has also seen the fraying of US-China relations. He is expected to secure an unprecedented third term in power at the Communist Party Congress that begins on Sunday. “Moreover, growth is not the only source of legitimacy and support for the Communist Party, and Xi has increasingly burnished the Communist Party’s nationalist credentials to appeal to patriotism as well as pocketbooks,” he added.

HONG KONG, Oct 14 (Reuters Breakingviews) - The world is facing a difficult 2023 as growth slows in most developed economies. The world economy will expand by 2.7% in 2023, per the IMF. Register now for FREE unlimited access to Reuters.com RegisterChina’s contribution to global growth will be more than three times greater than the United States. The South Asian nation produces roughly 3% of world GDP. Even if it expands by 6.1% as forecast, it will account for just 7.7% of global growth.

☆ Factbox: How China's Communist Party Congress works
▼ + stars: | 2022-10-14 | by ( Yew Lun Tian | ) www.reuters.com time to read: +4 min

BEIJING, Oct 14 (Reuters) - Chinese President Xi Jinping is poised to win a third five-year term as General Secretary of the ruling Communist Party, the most powerful job in the country, at the 20th Party Congress that starts on Sunday. During the opening ceremony, which is broadcast with a delay, Xi will read out the 20th party congress report, reviewing the party's achievements of recent years and laying out its vision for the next five years. At the 19th party congress, the opening speech lasted 3 hours and 24 minutes. THE CLOSING CEREMONYAt the closing ceremony, typically a week after the start, delegates vote to endorse the congress report and party constitution amendment. The Standing Committee members enter in order of seniority, highest to lowest.

☆ Analysis: Chinese property developers on tenterhooks ahead of Communist Party Congress
▼ + stars: | 2022-10-14 | by ( Clare Jim | ) www.reuters.com time to read: +7 min

HONG KONG, Oct 14 (Reuters) - Chinese real estate developers are delaying their debt restructuring moves until after the upcoming Communist Party Congress, hoping the crucial gathering offers clues on how Beijing plans to stabilise the embattled sector. Smaller peers, which have done bond exchanges to extend the maturities of their debt, are also considering restructuring, the developers told Reuters. China's gigantic real estate debt China's gigantic real estate debtChina's twice-a-decade party congress kicks off on Oct. 16, during which President Xi Jinping is poised to secure a precedent-breaking third leadership term as general secretary. Echoing that apprehension ahead of the party congress, some fund managers and brokers have been told to avoid big share sales, two sources told Reuters. For some stakeholders, the stalling of the debt restructuring ahead of the party congress is frustrating.

☆ Morning Bid: Mystery Dance
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike Dolan. Sudden and sometimes unexplained stock rallies are often hallmarks of prolonged bear markets. U.S. stock futures have retraced a bit - but an hour is a long time in markets these days. read moreElsewhere, China's stocks surged ahead of the Communist Party Congress and amid an expected rise in domestic inflation. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ What Do Chinese People Think of Xi Jinping? It’s Very Hard to Tell
▼ + stars: | 2022-10-13 | by ( Liza Lin | ) www.wsj.com time to read: 1 min

Anyone wondering what Chinese people think about Xi Jinping as he is about to ascend to a precedent-breaking third term in power will have a hard time finding clues. In China, where independent opinion polls are virtually nonexistent, social media has been a way to gauge people’s opinions, even under censorship. But in the lead-up to a Communist Party congress starting Sunday, it is essentially impossible to search for viewpoints about Mr. Xi or other senior politicians that don’t offer unstinting praise.

A rare protest calling for Chinese President Xi Jinping’s overthrow was staged in the country’s capital Thursday, days before the start of the Communist Party congress, which is expected to cement his rule for an unprecedented third term. Small protests and confrontations with authorities have taken place in the past, in several cities where lockdowns have been enforced. Scorched pavement is seen on a highway overpass where social media videos earlier appeared to show smoke and protest banners in Beijing on Thursday. Posts containing the hashtags Beijing or Haidian were quickly blocked on Weibo, China's popular microblogging site similar to Twitter. Security across Beijing is extremely tight ahead of the ruling Communist Party’s five-yearly congress, which is set to open Sunday.

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