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☆ China foreign-exchange regulator Pan Gongsheng named central-bank party boss
▼ + stars: | 2023-07-01 | by ( ) www.reuters.com time to read: +2 min

July 1 (Reuters) - China's ruling Communist Party appointed central bank Deputy Governor Pan Gongsheng as the bank's party secretary on Saturday, a move the Wall Street Journal said would be a prelude to becoming governor. The party's Central Organization Department announced the decision at a meeting on Saturday afternoon, the People's Bank of China (PBOC) said in a statement on its website. The Journal reported hours earlier that Pan would be named to the party post before being appointed by the government to head the PBOC. The central bank said on Friday it would implement prudent monetary policy in a "precise and forceful manner" to support economic growth and employment. The current governor, Yi Gang, has been widely expected to retire since being left off the ruling Communist Party's Central Committee during the party's once-in-five-years congress in October.

Persons: Pan Gongsheng, Pan, Yi, Xi Jinping, Gokul Pisharody, Bharat Govind Gautam, Simon Cameron, Moore, William Mallard Organizations: Communist Party, Wall Street, party's Central Organization Department, People's Bank of China, The, Cambridge University, Harvard University, SAFE, Communist Party's, Thomson Locations: Bengaluru

☆ North Korea Criticizes Officials for Failed Satellite Launch
▼ + stars: | 2023-06-18 | by ( Choe Sang-Hun | ) www.nytimes.com time to read: +1 min

North Korea’s top political leaders “bitterly criticized” officials responsible for a botched attempt to launch a military satellite last month and ordered them to try again, state media reported on Monday. The May 31 launch was meant to put North Korea’s first military reconnaissance satellite into orbit. But the rocket, which set off alarms and an evacuation order in Seoul, malfunctioned and crashed into the sea off South Korea’s west coast. The South later salvaged what appeared to be the second stage of the rocket — a new model, the Chollima-1 — along with other debris that could provide valuable data on the North’s advancing rocket and missile technology. At a meeting of the Central Committee of the North’s ruling Workers’ Party that ended Sunday, the party’s Politburo “bitterly criticized the officials who irresponsibly conducted the preparations for satellite launch,” the state-run Korean Central News Agency reported.

Persons: “, ”, irresponsibly Organizations: North, Central Committee, Workers ’ Party, Korean Central News Agency Locations: Seoul

☆ North Korea says botched satellite launch was 'gravest failure'
▼ + stars: | 2023-06-18 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

KCNA via REUTERSSEOUL, June 19 (Reuters) - North Korea has said its botched military satellite launch last month was the "gravest failure" at the ruling party's latest key meeting, state media KCNA reported on Monday. The enlarged plenary meeting was held between Friday and Sunday, ordering workers and researchers to analyze the failed military satellite launch and prepare for another in the near future. Those in charge of the satellite launch were "heavily criticized," the report said. It marked the eight enlarged plenary meeting of the 8th Central Committee of the Workers' Party of Korea (WPK), the country's ruling party. North Korea also vowed it will continue to develop its nuclear capability and strengthen solidarity with other countries that oppose what it called the "U.S. strategy for world supremacy."

Persons: Kim Jong Un, Hyunsu Yim, Lisa Shumaker Organizations: 8th Central Committee of, Workers ' Party of, North, Korean Central News Agency, KCNA, REUTERS, Workers ' Party of Korea, North Korean, Korea's Unification Ministry, Thomson Locations: Workers ' Party of Korea, Pyongyang, North Korea, REUTERS SEOUL, U.S

☆ North Korea starts key party meeting to discuss defence strategy - KCNA
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

SEOUL, June 17 (Reuters) - North Korea convened a key party meeting to decide its diplomatic and defence strategy "to cope with the changed international situation", with leader Kim Jong Un attending, state media KCNA said on Saturday. The enlarged plenary meeting of the Central Committee of the ruling Workers' Party of Korea (WPK) opened on Friday and plans to also review the country's economic projects during the first half of this year, KCNA said without further elaborating. North Korea fired two short-range missiles off its east coast on Thursday, less than an hour after Pyongyang warned of an "inevitable" response to military drills staged earlier in the day by South Korean and U.S. troops. North Korea has said the drills were escalating military tensions. Last month, Pyongyang unsuccessfully tried to launch a spy satellite, in its first satellite launch since 2016.

Persons: Kim Jong Un, KCNA, Joyce Lee, Sandra Maler Organizations: Central Committee, Workers ' Party of Korea, South Korean, Thomson Locations: SEOUL, North Korea, Pyongyang, U.S

☆ North Korea to hold key ruling party meeting in early June
▼ + stars: | 2023-05-28 | by ( ) www.reuters.com time to read: +1 min

SEOUL, May 29 (Reuters) - North Korea's ruling party will hold a key meeting in early June to review the country's economic plans, state media KCNA reported on Monday. It will mark the 8th Plenary Meeting of the 8th Central Committee of the Workers' Party of Korea (WPK), the country's ruling party. The last plenary meeting was held in February to discuss improving the economy and agricultural sector amid fears of food shortages. North Korea also criticized recent joint military drills between the U.S. and South Korea as "dangerous war gambles" in a separate commentary carried by KCNA also on Monday. "It is no exaggeration to say that the war scenario for aggression on the DPRK has already entered its implementation stage through training stage," the commentary read.

☆ Utah changed its state flag to honor Mormon work ethic — but it was a total flop. Now, even the state's governor admitted he 'should have known better.'
▼ + stars: | 2023-05-09 | by ( Azmi Haroun | ) www.businessinsider.com time to read: +3 min

Utah's new flag design is ruffling feathers, and people are already trying to replace it. Spencer Cox said that he should "have known better" that the new flag would be unpopular. Brandon Beckham, a member of Utah's Republican party central committee, told the Journal that the new design is "just a logo." "The original Utah flag has built in its ideals that are true to the founding of the state that are linked to history," Beckham told the Journal. Ryan Woods, a conservative drag performer known as Lady MAGA USA, said the change flies in the face of history.

The staff at the hospital have been working around the clock since the fighting started in Sudan. “The biggest challenge facing medical staff trying to reach hospitals is the lack of safe passages. One video shows a doctor stitching a wound cutting through the calf of a woman. In another, the medical staff are slumped over a patient with a gaping wound in the upper thigh. “Hospitals of Sudan are under fire, medical supplies have almost run out, medical staff is exhausted.

Many other hospitals were also reported to have come under attack on Monday, the third day of fighting in Sudan. Russia has also been trying to make inroads in Sudan, and members of the Kremlin-affiliated Wagner private military company are posted there. Leaders from around the world called for a cease-fire, but it was not clear who, if anyone, was in control of Sudan, Africa’s third-largest country, by area. “Everyone is afraid,” said Ahmed Abuhurira, a 28-year-old mechanical engineer who went out to try to charge his cellphone. “The humanitarian situation in Sudan was already precarious and is now catastrophic,” he said.

[1/3] Smoke rises from the tarmac of Khartoum International Airport as a fire burns, in Khartoum, Sudan April 17, 2023 in this screen grab obtained from a social media video. U.S. Secretary of State Antony Blinken said an immediate ceasefire was needed, saying that view was shared by the international community. By Sunday it appeared that the army was gaining the upper hand in the fighting in Khartoum, using air strikes to pound RSF bases. Sudan has been affected by rising levels of hunger in recent years as an economic crisis has deepened. The WFP says it reached 9.3 million people in Sudan, one of its largest operations globally.

Satellite images showing a smoke plume in Khartoum Airport and Soba Camp. Khartoum Airport Area of Military Headquarters Smoke Khartoum Airport Soba military camp University Sudan Sports City Smoke Khartoum Airport Area of Military Headquarters Smoke Khartoum Airport Soba military camp University Sudan Sports City Smoke Khartoum Airport Soba military camp University Area of Military Headquarters Sudan Sports City Smoke Smoke Khartoum Airport Source: Satellite images by Planet Labs, captured on Saturday morning The New York TimesDeadly clashes broke out in Sudan’s capital on Saturday when rising tensions between rival factions of the military turned violent. By Saturday evening, fighting had spread beyond the capital, Khartoum, and it was unclear who was in control of the country. Here’s what videos show about the fighting and what we know about the locations of the violence. Elsewhere in SudanBy Saturday evening, fighting had spread far beyond Khartoum.

For Saudi Arabia, a deal could mean improved security. Saudi Arabia, Washington's most important Arab ally, began exploring ways to open a dialogue with the Islamic Republic two years ago in Iraq and Oman, said a Saudi official. In a bilateral meeting with Crown Prince Mohammed bin Salman, the president expressed his desire to broker dialogue between Saudi Arabia and Iran. CHINESE MEDIATION 'BEST OPTION'An Iranian official said the deal covered a range of issues, from security concerns to economic and political issues. "China was the best option considering Iran's lack of trust towards Washington and Beijing's friendly ties with Saudi Arabia and Iran.

Once the party of foreign policy "hawks," Republicans have increasingly cooled on foreign entanglements and military support for allies, particularly after Trump took office in 2016. Republican senators Marco Rubio, who is from DeSantis' home state, and Lindsey Graham, both former presidential candidates, criticized isolationists within their party. "People care about foreign policy, but I think it's kind of mixed on Ukraine funding," said Trudy Caviness, a member of the Iowa Republican State Central Committee. By embracing Trump's hands-off brand of foreign policy, DeSantis risks turning off some of the white-collar Republicans that are most eager to move on from the former president. That will give the eventual winner of the Republican nomination significant power to shape the party's foreign policy preferences going forward.

However, further announcements are expected in coming weeks as China implements a reorganisation of its financial regulatory structure and other government bodies. "Opting for continuity in these critical economic roles suggests an emphasis on credibility and stability," said Mattie Bekink, China director at the Economist Intelligence Corporate Network. The U.S.-educated central bank chief Yi, appointed PBOC governor in 2018, had widely been expected to retire after being left off the ruling Communist Party's Central Committee during the party's once-in-five-years congress in October. "It shows China wants to at least have a dialogue with the United States on monetary policy and financial cooperation," he said. The parliamentary session will end on Monday, with Xi expected to give a speech and Li, the new premier, scheduled to hold a televised media conference afterwards.

☆ 'Steady hand': China surprisingly retains central bank chief
▼ + stars: | 2023-03-12 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

BEIJING, March 12 (Reuters) - Yi Gang's surprise re-appointment as China's central bank governor on Sunday means a pro-market mind of high international stature will continue to represent the world's second-largest economy on the global stage. The PBOC governor has high global exposure through institutions such as the Group of 20, the International Monetary Fund, the World Bank and others. "The central bank governor is not a job that can be easily taken over by someone else. Under Yi, the central bank has cut the reserve ratio 14 times since early 2018, pumping more than 10 trillion yuan into the economy. "Yi has been a steady hand in managing policy and the appointment underlines the importance of policy stability," said a policy insider who spoke on condition anonymity.

China's four new vice premiers:Ding Xuexiang, 60, is the first-ranked vice premier who also sits in the ruling Communist Party's Politburo Standing Committee, China's top echelon of power. Wang Zhigang, 65, remains minister of science and technology. Huai Jinpeng, 60, remains minister of educationPan Yue, 62, remains head of the National Ethnic Affairs CommissionWang Xiaohong, 65, remains minister of public securityChen Yixin, 63, remains minister of state security. Considered a Xi ally, he had worked with Xi when the latter was party chief of Zhejiang province from 2002-2007. Tang Dengjie, 63, remains minister of civil affairsHe Rong, 60, remains minister of justiceWang Xiaoping, 59, remains minister of human resources and social securityWang Guanghua, 59, remains minister of natural resourcesHuang Runqiu, 59, remains minister of ecology and environmentNi Hong, 60, remains minister of housing and urban-rural developmentLi Xiaopeng, 63, remains minister of transportLi Guoying, 63, remains minister of water resourcesTang Renjian, 60, remains minister of agriculture and rural affairsHu Heping, 60, remains minister of culture and tourismMa Xiaowei, 63, remains head of the National Health CommissionPei Jinjia, 59, remains minister of veterans affairsWang Xiangxi, 60, remains minister of emergency managementHou Kai, 60, remains auditor-general of the National Audit OfficeReporting by Yew Lun Tian, Ziyi Tang, additional reporting by Albee Zhang; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

White House spokesperson John Kirby said on Friday that while Washington was not directly involved, Saudi Arabia kept U.S. officials informed of the talks with Iran. NUCLEAR TALKSThe agreement comes as Iran accelerates its nuclear program after two years of failed U.S. attempts to revive a 2015 deal that aimed to stop Tehran producing a nuclear bomb. "Saudi Arabia is deeply concerned about Iran's nuclear program," he said. "If this new opening between Iran and Saudi Arabia is going to be meaningful and impactful, it will have to address the concerns about Iran's nuclear program - otherwise the opening is just optics." Friday's agreement also offers hope for more durable peace in Yemen, where a conflict sparked in 2014 has widely been seen as a proxy war between Saudi Arabia and Iran.

☆ Saudi, Iran restoration of ties a 'victory for dialogue'-China’s Wang Yi
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +2 min

China Daily via REUTERSBEIJING, March 10 (Reuters) - The successful talks between Iran and Saudi Arabia in Beijing are a victory for dialogue and peace, China's top diplomat Wang Yi said on Friday, following the major diplomatic coup for China in Middle East geopolitics. Iran and Saudi Arabia agreed on Friday to re-establish relations after seven years of hostility which had threatened stability and security in the Gulf and helped fuel conflicts in the Middle East from Yemen to Syria. In the statement, the three parties expressed their willingness to make "every effort" to strengthen international and regional peace and security. "As a good-faith and reliable mediator, China has faithfully fulfilled its duties as the host," Wang said. Reporting by Ethan Wang and Ryan Woo; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ China's Xi secures precedent-breaking third term as president
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +3 min

[1/4] Chinese President Xi Jinping looks on after casting his vote during the Third Plenary Session of the National People's Congress (NPC) at the Great Hall of the People, in Beijing, China, 10 March 2023. MARK R. CRISTINO/Pool via REUTERSBEIJING, March 10 (Reuters) - Xi Jinping on Friday secured a precedent-breaking third five-year term as China's president as he tightens his grip as the country's most powerful leader since Mao Zedong. The stage was set for another Xi term when he did away with presidential term limits in 2018. Xi chatted casually with Li, who was seated to his left, as delegates deposited voting slips into electronic ballot boxes. The parliament also elected Zhao Leji, 66, as the new parliament chair and Han Zheng, 68, as the new vice president.

☆ Factbox: What is China's new government restructuring plan?
▼ + stars: | 2023-03-08 | by ( Laurie Chen | ) www.reuters.com time to read: +5 min

The restructured ministry will be overseen by a newly created Communist Party body, the Central Science and Technology Commission, strengthening party oversight of science and technology policy. A new national data bureau will be responsible for coordinating the sharing and development of data resources, as well as planning the digital economy and promoting initiatives. Since taking power in 2012, Xi has established several new central party committees overseeing multiple ministries, which report directly to him. Analysts expect the party reforms to be revealed soon after the NPC concludes its meetings on Monday. A top-level party financial watchdog, the Central Financial Work Commission, is likely to be resurrected after the NPC, sources earlier told Reuters.

☆ China plans to revamp finance, tech oversight
▼ + stars: | 2023-03-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Lintao Zhang | Getty Images News | Getty ImagesBEIJING — China plans to overhaul its financial regulatory system by consolidating aspects of the central bank and securities regulator under a new entity, while doing away with the existing banking regulator. The moves also come as Beijing has increased regulation on parts of the economy that had developed quickly, with little oversight. The latest plan calls for the establishment of a National Financial Regulatory Administration, which replaces the China Banking and Insurance Regulatory Commission and expands its role. watch nowThe China Securities Regulatory Commission's investor protection responsibilities are set to shift to the new financial regulator. "China's consolidated financial regulatory body is [a] paradigm shift to ramp up oversight of its vast financial system," said Winston Ma, adjunct professor of law at New York University.

☆ China to set up new financial regulator in major supervisory overhaul
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +2 min

BEIJING, March 7 (Reuters) - China will set up a national financial regulatory administration, according to a plan announced on Tuesday, in the biggest overhaul of the country's financial supervisory apparatus in years. China's financial sector is currently overseen by the People's Bank of China (PBOC), the CBIRC, and the China Securities Regulatory Commission (CSRC), with the cabinet's Financial Stability and Development Committee having overall purview. The new administration will "strengthen institutional supervision, supervision of behaviours and supervision of functions," according to the plan, with all kinds of financial activities to be supervised according to the law. The overall reform plan will be "targeted, intensive and wide-ranging, touching on deep-rooted interests", Xi told the party's Central Committee. Reporting by Ryan Woo and Ziyi Tang; Editing by Andrew Heavens and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ China says U.S. relations have left rational path, warns of conflict unless they 'hit the brake'
▼ + stars: | 2023-03-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Qin Gang, now China's foreign minister, is pictured here speaking in Washington, D.C., in Dec. 2022 while he was China's ambassador to the United States. BEIJING – China's new foreign minister Qin Gang said relations with the U.S. have left a rational path and warned of conflict if the U.S. doesn't "hit the brake." Qin was speaking at his first press conference since becoming foreign minister. Qin on Tuesday also presented Beijing's relations with Moscow as an example for relations with other countries. "The more unstable the world becomes the more imperative it is for China and Russia to steadily advance relations," Qin said via an official English translation.

In North Carolina, party activists are seeking to punish Republican Senator Thom Tillis for his support for same-sex marriage rights. North Carolina State Representative Mark Brody, who supports censuring Sen. Tillis, says it is better to address differences directly. Law, who served as a senior member of Trump's 2016 and 2020 campaigns in Nevada, and the county party did not respond to requests for comment. Although Tillis retains support among the party establishment, Jim Womack, a county party chair, says the Senator’s critics are gaining strength. “The North Carolina Republican party will eventually be decentralized to the point where the grassroots will actually run the party,” Womack said.

☆ At China political meeting, internet bosses are out, chip execs are in
▼ + stars: | 2023-03-03 | by ( Laurie Chen | ) www.reuters.com time to read: +4 min

HARDWARE FOCUSNewcomers to the events include representatives from chip firms Semiconductor Manufacturing International Corporation (SMIC), state-backed Hua Hong Semiconductor Ltd, Shandong Youyan Semiconductor Materials Co. in the NPC and Cambricon Techologies Corp in the CPPCC. Other new NPC delegates come from robotics, laser, aerospace and aeronautics firms. Delegates for the NPC and CPPCC are chosen every five years by the Communist Party and have the option to resign. Some celebrity CPPCC delegates did not reappear on this year's list, such as Hong Kong action star Jackie Chan, film director Feng Xiaogang and state television anchor Bai Yansong. Yao Ming, a retired basketball star who heads the Chinese Basketball Association, has moved from the CPPCC to the NPC.

☆ Vietnam Communist Party nominates Vo Van Thuong as new president - sources
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

HANOI, March 1 (Reuters) - Vietnam's Communist Party has nominated Vo Van Thuong as the country's new president, two party sources said on Wednesday, following the sudden forced resignation in January of his predecessor as part of a sweeping anti-corruption campaign. Thuong, 52, is the youngest member of the party's Politburo, the country's top decision-making body, and is widely regarded as being close to General Secretary Nguyen Phu Trong, Vietnam's most powerful figure. Both the government and Communist Party said on Wednesday the party's Central Committee had agreed on a nomination for president, without naming the candidate. The president in Vietnam holds a largely ceremonial role, but is among the top four political figures in the country, together with the party's general secretary, the prime minister and the head of the national assembly. Speaking at a party meeting last month, Thuong said: "The people's lawful and legitimate interests must be the important starting point of all the Party's guidelines and policies".

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