The US administration is not hiding its concern over India’s intention to participate in military exercises organized by Russia, White House spokeswoman Karin Jean-Pierre said today. Last month Moscow announced military exercises called Vostok (East) from August 30 to September 5 amid the war in Ukraine. According to the Chinese Ministry of Defense, troops from […]
Tag: China
China: On October 16, the Congress of the Communist Party begins
China’s Communist Party (CCP) congress will begin on October 16, the party’s political bureau announced today and state broadcaster CCTV broadcast, a decisive gathering where President Xi Jinping is expected to secure a third term as party chief and so and the country. Unexpectedly, the 69-year-old Xi is expected to be re-elected as the party’s […]
China’s Sinopec has commissioned the country’s largest coal capture and storage facility
Chinese oil major Sinopec Corp said on Monday it has commissioned the country’s largest coal capture, utilization and storage (CCUS) unit in eastern China, adding that it plans to build two more units of a similar size by 2025. The Chinese state-owned oil giant is one of the leading companies building CCUS pilot projects in […]
China: Record revenues for oil groups
Chinese oil giants Sinopec, PetroChina and CNOOC posted big increases in net income in the first half, after energy prices took off triggered by Russia’s invasion of Ukraine. State-owned Sinopec, Asia’s biggest refiner, yesterday reported net income of 43.53 billion yuan (6.37 billion euros) in the January-June period, up 10.4 percent year-on-year. And this despite […]
US: US warships’ crossing of Taiwan Strait consistent with US one-China policy
Today’s crossing of the Taiwan Strait by two US warships through international waters is “very consistent” with the US’s “one China policy” and aims for a free and open Indo-Pacific, a White House official said. “It was planned long ago,” John Kirby, a spokesman for the National Security Council, told CNN of the first crossing […]
Taiwan: Opposition defends ‘brave’ approach to Beijing after official visits China
The head of Taiwan’s main opposition party, the Kuomintang (KMT), defended his “brave” approach to Beijing on Sunday after a senior official visited China on a trip condemned by the Taipei government that upset even some members of the party, according to what Reuters reports. China’s military high schools near the democratically-ruled island this month […]
Handelsblatt: Global businesses disengage from China and now prefer to invest in SE Asia and India
Handelsblatt sees a trend of “disengaging” from China and turning to Southeast Asia and India on the part of large companies. In more detail, according to the relevant publication, Vietnam supports its rapid economic rise with colorful structural elements. For a billion dollars, toy maker Lego is planning a new factory in an industrial park […]
Two US warships sail through Taiwan Strait for first time since Pelosi’s visit
LAST UPDATE: 10:07 Two US Navy vessels are sailing in international waters in the Taiwan Strait, making the first such crossing since tensions with China escalated over House Speaker Nancy Pelosi’s visit to Taipei in early August. China’s military has said it is monitoring US Navy ships sailing through the Taiwan Strait, maintaining high alert […]
Credit Suisse questions China’s ambitions in renewing its strategy
Credit Suisse Group AG is reviewing long-term plans for its mainland China operations as part of a broader overhaul of its strategy after the lender posted billions of dollars in losses, Bloomberg reports. New chief executive Ulrich Koerner and Asia-Pacific head Edwin Low are among the top bankers who will meet in Singapore next week […]
China’s industrial profits fell 1.1% in the first seven months of 2022
Profits at industrial firms in China fell in the first seven months of the year as the economy continued to struggle with Covid disruptions and the ongoing downturn in the real estate sector, Bloomberg reports. Earnings in the January-July period fell by 1.1% compared to a year earlier, the National Statistics Service announced on Saturday. […]