Tag Archives: Beijing

Chinese language envoy going to US to organize for commerce talks

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A Chinese language envoy will head to Washington on Wednesday to organize for commerce negotiations.

The announcement Tuesday follows conciliatory gestures by each side forward of the October talks on their battle over commerce and expertise, which threatens to dampen international financial development.

A deputy finance minister, Liao Min, will lead a delegation to Washington to “pave the best way” for the 13th spherical of negotiations, the official Xinhua Information Company mentioned. It gave no particulars of their agenda.

The 2 governments have raised tariffs on billions of {dollars} of one another’s items. That has battered farmers and producers on each side and fueled fears the worldwide financial system, which already is displaying indicators of cooling, would possibly tip into recession.

Beijing introduced Friday it is going to elevate punitive tariffs on American soybeans, China’s largest import from the USA. That adopted President Donald Trump’s choice to postpone a tariff hike on Chinese language imports. However there was no signal of progress on the core points of their sprawling dispute.

Negotiations between Washington and Beijing broke down in Might over implement any deal.

Beijing says Trump’s tariff hikes have to be lifted as quickly as an settlement takes impact. Washington desires to maintain some in place to make sure Chinese language compliance.

Trump and Chinese language President Xi Jinping agreed in June to renew talks however the final spherical in Shanghai in July produced no progress.

Washington desires Beijing to roll again plans for state-led improvement of leaders in robotics and different applied sciences that some American officers fear will erode U.S. industrial management.

The World Financial institution and a Chinese language Cupboard company, in a report issued Tuesday, urged Beijing to open markets and curb subsidies and official involvement in expertise industries that it says would possibly hamper improvement as an alternative of selling it.

The report on China’s fledgling expertise was commissioned three years in the past, properly earlier than the commerce battle with Trump over commerce and Beijing’s expertise ambitions erupted.

It doesn’t point out the commerce battle, although it focuses on the identical insurance policies that Washington, Europe, Japan and different buying and selling companions say violate Beijing’s market-opening commitments.

Critics of these insurance policies complain that they’re primarily based on stealing or improperly pressuring international firms handy over expertise and shielding Chinese language business from competitors.

The report was issued by the World Financial institution, the Chinese language Finance Ministry and the Cupboard’s Growth Analysis Middle, which represents essentially the most free-market oriented wing of the ruling Communist Get together.

It marks the third time the Washington-based financial institution and the DRC have collaborated on experiences urging that the federal government reduce its position within the state-dominated financial system. They’ve had a restricted influence on coverage.

“Growing new drivers of development is turning into extra pressing” as a consequence of a “sophisticated worldwide setting” and weakening Chinese language financial system, a DRC official, Zhang Junkuo, mentioned at a information convention.

The report portrays its suggestions as an extension of the ruling social gathering’s market-oriented improvement plans.

Xi’s authorities, which has waged a crackdown on liberal intellectuals and activist attorneys, has attacked reform advocates who criticize authorities improvement plans.

One in every of China’s most outstanding financial suppose tanks, the Unirule Institute in Beijing, introduced final month it might shut down after the federal government banned it after searching for for years to silence its criticism of financial coverage.

Xi’s authorities has introduced tariff cuts and market-opening measures together with permitting full international possession of auto producers for the primary time. However it’s resisting strain to discard expertise improvement plans thought of to be essential for prosperity and international affect.

The World Financial institution report calls on Beijing to “take away distortions and market obstacles” and to make sure authorities insurance policies “complement market competitors as an alternative of supplanting it.”

The federal government ought to present a “clear and honest enterprise setting” as an alternative of creating industrial selections, the report mentioned. It requires sooner motion in reforms geared toward making state-owned firms extra aggressive and “better self-discipline” in official help to particular industries.

A survey of 500 entrepreneurs in 5 Chinese language cities discovered they consider the best authorities initiatives enhance enterprise circumstances and promote competitors slightly present direct subsidies or official financing, the report mentioned.

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China to elevate punitive tariffs on US soybeans, pork

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China will elevate punitive tariffs imposed on U.S. soybeans and pork in a commerce warfare with Washington, a state information company stated Friday, including to conciliatory gestures by the 2 sides forward of negotiations.

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China will droop tariff hikes on soybeans, pork and another farm items, the Xinhua Information Company stated, citing the Cupboard planning company and the Commerce Ministry. Beijing “helps home firms in buying a specific amount of U.S. farm produce,” it stated, however it gave no particulars.

The transfer follows President Donald Trump’s determination Wednesday to postpone a deliberate Oct. 1 tariff hike on Chinese language imports to Oct. 15.

Hopes are rising that the 2 sides may defuse the extended dispute that’s threatening world financial progress. However there was no signal of progress on the principle points of their sprawling battle over commerce and know-how.

Beijing’s determination to revive entry to low-cost U.S. soybeans additionally would assist Chinese language pig farmers who use soy as animal feed. They’re reeling from an epidemic of African swine fever that has precipitated pork costs to soar.

Telephone calls to the commerce and finance ministries weren’t answered on Friday, a nationwide vacation in China.

“China has an enormous market, and the prospects for importing high-quality U.S. farm produce are broad,” Xinhua stated. “China hopes the USA shall be true to its phrase, make progress on its commitments and create favorable circumstances for bilateral agricultural cooperation.”

Beijing imposed 25% tariffs on American farm items final 12 months in response to Trump’s tariff hikes on Chinese language items. Importers have been ordered to cease shopping for soybeans, the largest U.S. export to China.

China focused farm items, hurting rural areas that supported Trump within the 2016 presidential election.

Secretary Steven Mnuchin known as Wednesday’s tariff delay by Trump a “goodwill gesture to the Chinese language.”

The Commerce Ministry stated Thursday importers have been asking American suppliers for costs of soybeans and pork. It gave no indication whether or not they deliberate to put orders.

Washington needs Beijing to roll again plans for state-led growth of leaders in robotics and different applied sciences. The US, Europe and different buying and selling companions argue these violate China’s free-trade commitments.

Some American officers fear they’ll erode U.S. industrial management.

Negotiations broke down in Could over implement any deal. Beijing says Trump’s tariff hikes have to be lifted as quickly as an settlement takes impact. Washington needs to maintain some in place to make sure Chinese language compliance.

Trump and Chinese language President Xi Jinping agreed in June to renew talks however the final spherical in Shanghai in July produced no progress.

Chinese language negotiators are as a consequence of fly to Washington in early October to fulfill with Mnuchin and U.S. Commerce Consultant Robert Lighthizer, in accordance with the treasury secretary. He stated mid-level U.S. and Chinese language officers have been as a consequence of meet subsequent week or the next week to arrange.

By delaying his tariff hike, Trump allowed for the likelihood the talks may make sufficient progress to avert the rise indefinitely. Nevertheless, economists say a closing settlement is unlikely this 12 months.

Tariff hikes by each side on billions of {dollars} of products have disrupted enterprise for farms and factories in each international locations, weighing on world financial progress.

China’s announcement Friday additionally fine-tunes commerce penalties to cut back injury to its personal economic system at a time of slowing progress.

Lack of entry to American soybeans pushed up prices for Chinese language pig farmers after African swine fever precipitated the lack of greater than 1 million pigs and disrupted provides of China’s staple meat, inflicting costs to soar.

Authorities have informed soybean importers to seek out new sources however the USA is the largest and lowest-cost exporter. Patrons want to Brazil and Argentina however their output can’t fill the entire hole and their costs are larger.

On Wednesday, Beijing introduced exemptions from punitive duties for 16 classes of American merchandise.

The Chinese language exemptions apply to uncooked supplies wanted by farmers and factories and a few medicines.

The Commerce Ministry stated Thursday that exemptions have been granted if no different suppliers may very well be discovered or the rise would damage Chinese language trade or the economic system.

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China criticizes US action against Huawei

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China vowed Thursday to “resolutely safeguard” Chinese companies after Washington labeled telecom equipment giant Huawei a security risk and imposed export curbs on U.S. technology sales to the company.

A foreign ministry spokesman, Lu Kang, criticized the moves as an “abuse of export control measures” after the Trump administration issued an order requiring Huawei to obtain government permission for purchases.

Huawei Technologies Ltd., the biggest global maker of switching equipment for phone companies, has spent a decade fighting accusations it facilitates Chinese spying.

“We urge the United States to stop the wrong approach,” said a foreign ministry spokesman, Lu Kang. “China will take further necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.”

Lu gave no details, but analysts warned the export controls threaten to worsen a U.S.-Chinese conflict over technology and trade.

The restriction is “a grave escalation with China that at minimum plunges the prospect of continued trade negotiations into doubt,” said Eurasia Group analysts in a report.

“Unless handled carefully, this situation is likely to place U.S. and Chinese companies at new risk,” the report said.

President Donald Trump also issued an executive order Wednesday that bans phone carriers from using technology of “foreign adversaries” deemed to pose “unacceptable risks” to national security.

While it doesn’t name specific countries or companies, it follows months of U.S. pressure on Huawei. It gives the Commerce Department 150 days to come up with regulations.

A Ministry of Commerce spokesman, Gao Feng, gave a similar warning about “necessary measures” at a separate news conference but also gave no details of possible official steps.

Chinese retaliation against U.S. tariff hikes has included targeting American companies in China by slowing down customs clearance and issuance of business licenses.

Trump’s order addresses U.S. government concerns that equipment from Chinese suppliers could pose an espionage threat to U.S. internet and telecommunications infrastructure.

Huawei said blocking it from doing business in the United States would hamper introduction of next-generation communications technology in which the company is a world leader.

“We are ready and willing to engage with the U.S. government and come up with effective measures to ensure product security,” the company said in a statement.

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Associated Press researcher Liu Zheng contributed.

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China’s Xi promotes building initiative amid debt worries

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Chinese President Xi Jinping promised Friday to set high standards for Beijing’s sweeping infrastructure-building initiative as fellow leaders praised the effort despite worries it is saddling some countries with too much debt.

Xi avoided mentioning debt in a speech at a Belt and Road forum celebrating his signature foreign initiative. But he promised changes in response to complaints about costs, dubious payoffs from the projects and possible environmental damage.

Beijing wants “open, green and clean cooperation” with “zero tolerance for corruption,” Xi said.

Developing countries have welcomed the initiative, launched in 2013, to expand trade by building roads, ports and other facilities from Asia through Africa and the Middle East to Europe. But some governments are struggling to repay Chinese loans, fueling complaints poor countries are being pushed into a “debt trap.”

The United States, Japan, India and Russia have chafed at the expansion of Beijing’s strategic influence with the building of trade and political networks centered on China.

Despite that, Russian President Vladimir Putin on Friday praised the initiative, saying it dovetails with the goals of a Russian-promoted market with four of its neighbors, the Eurasian Economic Union.

Malaysian Prime Minister Mahathir Mohamad, who had suspended plans for a Chinese-built railway and other projects due to their cost, said he was “fully in support.”

Prime Minister Imran Khan of Pakistan, one of China’s closest allies, said Belt and Road has produced “substantial progress” in increasing power supplies and other areas.

The U.N.’s secretary-general, Antonio Guterres, said Belt and Road projects could help turn the balance in mitigating climate change.

Xi’s government is trying to revive the initiative’s momentum after the number of new projects plunged last year. That came after Chinese officials said state-owned banks would step up scrutiny of borrowers and some governments complained projects do too little for their economies and might give Beijing too much political influence.

Other countries including Thailand and Nepal have canceled or scaled back projects while Ethiopia and others have renegotiated debt repayment.

Xi promised changes to forestall corruption and environmental damage, and sought to allay worries Beijing is reaping most of the economic benefits and gaining power at the expense of countries involved.

The Belt and Road is “not an exclusive club” and promotes “common development and prosperity,” Xi said. He said Belt and Road will embrace international standards for project development, purchasing and operations.

China issued “debt sustainability” guidelines Thursday for assessing debt risks to borrowers that the Ministry of Finance said are based on standards of the International Monetary Fund and other international institutions.

Finance Minister Liu Kun said the guidelines, intended to “prevent and solve debt problems,” would classify countries by risk based on productivity, economic growth and other factors.

Other leaders attending the forum included Aung San Suu Kyi, state councilor for Myanmar, Ethiopian Prime Minister Abiy Ahmed and leaders or envoys from Germany, Italy and Greece.

Xi said Beijing wants to encourage cooperation on health, water resources, agriculture and technology. He promised scholarships for students from Belt and Road countries.

Chinese lenders have provided $440 billion in financing, the country’s central bank governor, Yi Gang, said Thursday without giving details on repayments or risks of defaults.

In addition, some 500 billion yuan ($75 billion) has been raised in Chinese bond markets, according to Yi.

The United States, Japan and other wealthy countries also finance construction in a region the Asia Development Bank says needs $26 trillion of investment through 2030 to keep economic growth strong.

In March, Italy became the first member of the Group of Seven major economies to sign an agreement to support Belt and Road.

Belt and Road countries also include many of the poorest and most indebted in Africa and Asia.

About one-quarter of the 115 governments that have signed agreements to support the initiative have foreign debt equal to at least 75% of their annual economic output, according to Moody’s. Mongolia is the most extreme at 240 percent. Egypt, Indonesia and Pakistan all are above 50%.

None is in immediate danger of default, but Belt and Road economies tend to have higher debt than average, weaker financial flows and more vulnerability to economic shocks, said Lillian Li, a Moody’s vice president.

Borrowing “more external funds will be more dangerous to themselves as well as to the lending countries,” Li said in an interview.

There’s a limit to how much Xi’s government might change the initiative because Beijing still wants to increase its influence and generate work for Chinese industries, Tom Rafferty of the Economist Intelligence Unit said in a report ahead of Friday’s forum.

One element to watch will be whether Beijing tries to enhance the appeal of Belt and Road by making it more like the World Bank or other multinational organizations, he said.

“This has the potential to generate further tensions with the U.S.,” Rafferty said.

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Associated Press writer Christopher Bodeen contributed.

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Chinese Street Food – Street Food In China – Hong Kong Street Food 2015



Chinese Street Food – Street Food In China – Hong Kong Street Food 2015 Subscribe : https://www.youtube.com/channel/UCaTLdex1z7Owidi1FJJkbvw.

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Eating Scorpions in China



Eating 4 small, 1 large scorpion and 4 locusts in China. they were delicious.

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