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☆ Russia shoots down China's peace plan for the Ukraine war as Beijing becomes more entangled in the conflict a year into the fighting
▼ + stars: | 2023-02-27 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +4 min

The Kremlin said the conditions are not right to pursue China's plan for peace in Ukraine. China introduced a peace plan last week, which has been met with skepticism by the West. China's peace plan calls for the territorial integrity of all countries to be upheld but does not push for Russian troops to leave occupied Ukrainian territories. US President Joe Biden in an interview that aired on Sunday told ABC that China's plan would overwhelmingly benefit Russia. China's peace plan was also unveiled days after US Secretary of State Antony Blinken warned that Beijing could send lethal weapons to Russia to be used in Ukraine.

☆ 'Not rational' for China to negotiate outcome of Ukraine war -Biden
▼ + stars: | 2023-02-25 | by ( ) www.reuters.com time to read: +1 min

Feb 24 (Reuters) - U.S. President Joe Biden told ABC News in an interview on Friday that the idea China would be negotiating the outcome of the Ukraine war was not rational, following the release of Beijing's peace plan for the conflict. Biden told ABC News on the one-year anniversary of the war. "The idea that China is going to be negotiating the outcome of a war that's a totally unjust war for Ukraine is just not rational." Biden also repeated comments that he would not be sending F-16s to Ukraine for now, saying Ukrainian President Volodymyr Zelenskiy did not need the fighter jets for the moment. Reporting by Eric Beech and Costas Pitas; Editing by Sandra Maler and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ China calls for a ceasefire in Ukraine, attempting to play the role of mediator days after saying its ties with Russia are 'solid as a mountain'
▼ + stars: | 2023-02-24 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

On Friday, China released a 12-point peace plan to end the Ukraine war. The plan calls for a ceasefire and gradual deescalation of the conflict between Russia and Ukraine. China released the plan at 9 a.m. local time on the first anniversary of the Ukraine war, calling for a "gradual" de-escalation of the war and eventually a "comprehensive ceasefire." In the plan, China also appealed to both Ukraine and Russia to avoid the use of nuclear weapons. Ukrainian President Volodymyr Zelenskyy said on Thursday that he had not yet seen the peace plan, but is open to talks with Beijing, per Reuters.

☆ China to reveal a peace plan for Ukraine as one-year anniversary of Russian invasion nears
▼ + stars: | 2023-02-19 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +3 min

China announced plans for a peace proposal for the war in Ukraine at the Munich Security Conference. Wang said that China would reveal a solution for peace in the region — which highlights the importance of "the sovereignty of all countries" — on the one-year anniversary of Russia's invasion of Ukraine on February 24. Jens Stoltenberg, NATO's secretary general, called China's peace plan "quite vague." Annalena Baerbock, the German foreign minister, also welcomed China's plan. "As a permanent member of the UN security council, China has an obligation to use its influence to secure world peace," she said.

☆ Australia to speed up purchase of sea mines to shore up maritime defence
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Jan 23 (Reuters) - Australia said on Monday it would accelerate plans to buy advanced sea mines to protect its maritime routes and ports from "potential aggressors" amid China's plans to increase its influence in the Pacific region. The so-called smart sea mines are designed to differentiate between military targets and other types of ships, a defence department spokesperson said in a statement. "(Australia) is accelerating the acquisition of smart sea mines, which will help to secure sea lines of communication and protect Australia's maritime approaches," it said. The federal government will soon announce a contract to buy "a substantial number" of sea mines from a European weapons supplier, the report said, citing unidentified defence industry sources. So we have looked at missile defence, we're looking at cyber security, we're looking at all of these issues," Albanese said.

☆ China's private sector is the 'key engine of innovation,' says investment firm
▼ + stars: | 2023-01-19 | 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 EmailChina's private sector is the 'key engine of innovation,' says investment firmJames Thom of Abrdn discusses China's plan to launch a state-owned ride-hailing app, and weighs in on whether the state poses a threat to private companies.

☆ Davos panel expresses optimism over China's planned reopening
▼ + stars: | 2023-01-17 | 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 EmailDavos panel expresses optimism over China's planned reopeningPanelists share their outlook on China's planned reopening. Swiss-Chinese Chamber of Commerce President Felix Sutter, Baker McKenzie Global Chair Milton Cheng, Bain & Company Senior Partner and Regional Managing Partner (APAC) Satish Shankar, and KraneShares founder and CEO Jonathan Krane join CNBC's Silvia Amaro in the discussion.

☆ UK and France say no plans to follow Italy with Covid tests for China arrivals as EU plans response
▼ + stars: | 2022-12-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Carlos Barria | ReutersLONDON — The U.K. and France said Thursday morning they currently had no plans to reintroduce mandatory Covid-19 tests or additional requirements for travelers arriving into the country. It comes as several nations announced new measures in response to China's relaxation of Covid restrictions amid a suspected surge of infections but reduced domestic testing. On one Dec. 26 flight from China into Milan's Malpensa Airport, 52% of passengers tested positive for Covid, la Repubblica reported. But Italy's National Institute of Infectious Diseases reportedly called for an increase in testing for those arriving from China. The U.S. said from Jan. 5. all arrivals from mainland China, Hong Kong and Macau must supply a negative Covid test taken within two days of departure.

Wynn's 2 properties in the special administrative region of Macao, China, had generated roughly 70% of the company's total revenue pre-Covid-19. Both Wynn and Estee Lauder are down more than 30% year-to-date, while Honeywell has risen more than 3% this year. The Club take China's latest move to reopen its economy should be a catalyst for multiple Club holdings. For Estee Lauder, a leader in luxury skin care, makeup and fragrances, China represents a key driver of growth. Relaxed quarantine restrictions should also boost the aerospace industry, which still hasn't fully recovered from the pandemic.

☆ Oil hits three-week high as China eases COVID curbs
▼ + stars: | 2022-12-27 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

A weaker dollar makes oil cheaper for holders of other currencies and tends to support risk assets. Oil also drew support from worries over supply disruption because of winter storms in the United States, said Kazuhiko Saito, chief analyst at Fujitomi Securities. "But the U.S. weather is forecast to improve this week, which means the rally may not last too long," he said. Concern over a possible production cut by Russia also provided price support. Russia might cut oil output by 5% to 7% in early 2023 as it responds to price caps, the RIA news agency cited Deputy Prime Minister Alexander Novak as saying on Friday.

☆ Vivid new photos give you a rare look at the South China Sea islands that a top US commander says China has fully militarized
▼ + stars: | 2022-12-26 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

Beijing has used both natural and artificial islands to build up its military capabilities in the area. Island airbasesAn airfield, buildings, and structures on the artificial island built by China at Subi Reef on October 25. Port for Chinese warshipsAn airfield, buildings, and structures on the artificial island at Fiery Cross Reef on October 25. More than 40 vessels of different types appear to be anchored near Fiery Cross, the Associated Press said in March. These islands have sports fieldsAn airfield, buildings, and recreational facilities on the artificial island at Fiery Cross Reef on October 25.

The country spent big on quarantine and testing facilities over the past three years rather than bolstering hospitals and clinics and training medical staff, these people said. "There is no transition time for the medical system to prepare for this," said Zuofeng Zhang, professor of epidemiology at the University of California, Los Angeles. The failure to boost vaccination rates among the vulnerable could imperil China's health system, more than a dozen experts said. The death of a 23-year-old medical student in Chengdu on Dec. 14 fueled public ire at the strain on China's health system. Chen Jiming, a researcher at China's Foshan University, said there was every chance that China's medical system could cope now that the country has ended quarantine for asymptomatic and mild cases.

Companies BlackRock Inc FollowHONG KONG/SHANGHAI, Dec 21 (Reuters) - China plans to tighten rules to regulate environmentally friendly, or so-called green funds, as part of its efforts to rein in 'greenwashing' in the world's second-largest climate fund market, sources with direct knowledge of the matter said. At present, China's green funds only operate within broad investment guidelines that came into effect in 2018 and do not have a mandatory labelling regime. China overtook the United States last year to become the second largest climate fund market globally after the European market, according to Morningstar, which compiles global ESG fund data. In the first nine months of this year, 43 climate-themed funds debuted in China, a 30% rise in total number of products from end-2020. AMAC's draft rules borrow from the 2021 version of China's green bond catalogue, a quasi scheme of classification, to define green assets.

☆ Oil climbs on optimism over China's demand recovery
▼ + stars: | 2022-12-19 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

Companies TC Energy Corp FollowSINGAPORE, Dec 19 (Reuters) - Oil prices reclaimed ground on Monday after tumbling more than $2 a barrel in the previous session as optimism from China's reopening and oil demand recovery outweighed concerns of a global recession. China, the world's top crude oil importer and No. 2 oil consumer, is experiencing its first of three expected waves of COVID-19 cases after Beijing relaxed mobility restrictions. "Despite a surge in COVID cases, the reopening optimism and accommodative policy improve oil's demand outlook," CMC Markets analyst Tina Teng said. An announcement by the U.S. Energy Department on Friday that it will begin repurchasing crude oil for the Strategic Petroleum Reserve also supported outlook for stronger prices.

☆ China's planning to ramp up passenger flights to 2019 levels ahead of the Chinese New Year holidays, despite surging COVID-19 cases
▼ + stars: | 2022-12-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China plans to restore passenger flight volumes to 88% of the 2019 daily average by end-January, per Caixin. But the number of cases and deaths have reportedly been surging — even though China reported 1,918 new local cases and two deaths on Sunday. Under the plan, daily passenger flights are expected to rise to 70% of the 2019 daily average by January 6, 2023, according to Caixin. The country reported 1,918 new local COVID-19 cases on Sunday, down from 2,028 on Saturday, according to China's National Health Commission. Sunday's reported cases was down sharply from 8,838 cases a week ago — but this number included asymptomatic cases, which China has since stopped counting.

☆ As China seeks to live with the virus, COVID-control industries face decline
▼ + stars: | 2022-12-16 | by ( Eduardo Baptista | ) www.reuters.com time to read: +4 min

[1/2] Workers in protective suits wait for people at a nucleic acid testing site, as the coronavirus disease (COVID-19) outbreak continues, in Shanghai, China, December 9, 2022. A day later though, the 43-year-old lost her job as one of the city's many hazmat-suited COVID swab testers. The industries had become big business over the course of the pandemic and are huge employers even if precise statistics are hard to come by. It remains to be seen just how painful China's dismantling of its COVID-control infrastructure will be for companies and their staff. ($1 = 6.9605 Chinese yuan)Reporting by Eduardo Baptista; Editing by Brenda Goh and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

☆ Gulf states, looking East, to reinforce economic ties with China as Xi visits Saudi
▼ + stars: | 2022-12-06 | by ( Rachna Uppal | ) www.reuters.com time to read: +5 min

Saudi Arabia is China's top oil supplier, making up 18% of China's total crude oil purchases, and state-run Saudi Aramco has annual supply deals with half a dozen Chinese refiners. Outside energy, Gulf Cooperation Council (GCC) states provide markets for Chinese goods, construction contracts and investment opportunities in infrastructure, manufacturing and digital economies that fit Beijing's Belt and Road Initiative. Saudi Arabia and the UAE are also investing in future technologies as a pillar of economic diversification, which has gained impetus in a global transition away from fossil fuels. Online giant Alibaba has partnered with STC Group for cloud services in Saudi Arabia. BALANCING ACTHow Saudi Arabia and other Gulf states handle both Chinese and Western supply chains in sensitive areas like critical national infrastructure is likely to remain a point of friction with key security partner the United States, analysts say.

China's health authority said on Wednesday that it would aim to improve accessibility and launch targeted programmes in nursing homes and leisure facilities as part of a new vaccination drive among the over-60s. Public health experts say studies show that besides vaccination scepticism, the elderly have also been slow to take up the jab due to health, mobility and access. It would also deliver door-to-door vaccination services to those who are disabled or housebound and deploy specialist vaccination vehicles and temporary vaccination stations. Anger over China's zero-COVID policy, which has the world's toughest restrictions, has sparked protests across the country and prompted authorities to start easing some curbs. Especially for the elderly who haven't been vaccinated," said Shanghai resident Ye, who did not get vaccinated due to concerns over her health.

China's CSI300 Index (.CSI300) was down 1.8% after opening down 2.2% while the yuan also retreated. Australia's benchmark stock index (.AXJO) closed 0.42% lower while its risk-sensitive currency was off more than 1%. Japan's Nikkei stock index (.N225) was down 0.6%. In Shanghai, demonstrators and police clashed on Sunday night as protests over the country's stringent COVID restrictions flared for a third day. The COVID rules and resulting protests are creating fears the economic hit for China will be greater than first expected.

☆ Yellen to seek clarity from China on COVID, property -officials
▼ + stars: | 2022-11-13 | by ( David Lawder | ) www.reuters.com time to read: +2 min

NUSA DUA, Indonesia, Nov 13 (Reuters) - U.S. Treasury Secretary Janet Yellen will seek clarity on China's plans to ease its COVID-19 restrictions and deal with problems in its property sector when she meets on Monday with China's central bank chief, Treasury officials said on Sunday. Yellen is prepared to discuss with Peoples Bank of China Governor Yi Gang the outlook for U.S. inflation and growth, but will likely leave monetary policy plans to the Federal Reserve, the officials said. The Treasury officials said they do not plan to offer advice to China on its COVID restrictions or its property sector woes, but to understand Chinese officials' approach so they can better interpret the impact of policy changes. Yellen also will also meet with French Finance Minister Bruno Le Maire and new Italian Minister of Economy and Finance Giancarlo Giorgetti. Yellen also will urge her European counterparts to keep up strong fiscal support for Ukraine in a transparent and predictable way, the officials said.

☆ Why China doesn't actually want to invade Taiwan
▼ + stars: | 2022-11-12 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +8 min

Biden is trying to reassure Beijing but also trying to deter them from using military force to coerce Taiwan." Biden, however, has gone further, repeatedly asserting that he would respond to a Chinese invasion by committing US troops. For China, the Taiwan threat gives them negotiating leverage with the US and influence over Taiwan's domestic politics. If Congress passes the Taiwan Policy Act, Taiwan will get $6.5 billion in taxpayer money to buy more US-made weaponry. The sanctions that would likely follow an invasion of Taiwan would quickly and severely restrict the country's supply of meat.

☆ How Google's former CEO Eric Schmidt helped write AI laws in Washington without publicly disclosing investments in AI start-ups
▼ + stars: | 2022-10-24 | by ( Eamon Javers | ) www.cnbc.com time to read: +18 min

'Conflict of interest'Schmidt's investment was just the first of a handful of direct investments he would make in AI start-up companies during his tenure as chairman of the AI commission. Altogether, Schmidt and entities connected to him made more than 50 investments in AI companies while he was chairman of the federal commission on AI. To Poulson, Schmidt was simply given too much power over federal AI policy. The new entity would continue the work of the congressionally created federal commission, with many of the same goals and much of the same staff. More than a dozen staffers from the federal commission followed Schmidt to the new private sector project.

☆ 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.

By pointing to 2027 as the moment when East Asia's power balance may tip in China's favour, Japan's government can rally support for greater defence spending, he added. At a congressional hearing last year, U.S. Indo-Pacific commander Admiral Philip Davidson said that China's threat against Taiwan could "manifest" that year. Japanese defence ministry officials did not immediately respond to a request for comment. In July, Prime Minister Fumio Kishida won national upper house elections with a pledge to "substantially" increase defence spending. The splurge of defence spending should also benefit U.S. suppliers such as Lockheed, Boeing Co (BA.N) and Northrop Grumman Corp (NOC.N).

China's foreign minister Wang Yi has toured the Pacific islands seeking security deals with them. In this op-ed, Görlach analyzes why China's moves are worrying so many different nations. Recently, China's foreign minister, Wang Yi, completed a tour of the Pacific islands, aiming to increase Beijing's influence in the region through security deals. China's goal is not to improve the quality of life for people in the Pacific, but to become the predominant power there. The deal that China proposed to the Pacific islands focused on security.

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