China Financial News

China has lashed out at media reports alleging a man who was arrested on suspicion of espionage was gathering intelligence for Beijing, labelling the claim a «political farce».UK police said over the weekend that they had arrested a man in his twenties at his home in Edinburgh for spying, with the Sunday Times reporting he was a researcher in Britain's parliament. Officers from the Metropolitan Police Service arrested him, and another man in his thirties, in March on suspicion of offences under the Official Secrets Act and both have been bailed until October. The arrests led British Prime Minister Rishi Sunak to tell Chinese Premier Li Qiang at the G20 summit in New Delhi that he had «very strong concerns» about Beijing's «interference» in democracy. Asked about the media reports that the British pair were «arrested on suspicion of providing intelligence to China», a spokesperson for the Chinese embassy in London said it was «malicious slander». «The claim that China is suspected of 'stealing British intelligence' is completely fabricated and nothing but malicious slander,» the spokesperson said in a statement published late Sunday. «We firmly oppose it and urge relevant parties in the UK to stop their anti-China political manipulation and stop putting on such self-staged political farce.»

ANI, Shashi Tharoor said, “The Delhi Declaration is undoubtedly a diplomatic triumph for India. It's a good achievement because right until the G20 summit was being convened, the widespread expectation was there would be no agreement and, that, therefore, a joint communique might not be possible, and, that we might have to end up with a chairman's summary." Moreover, the Congress MP also praised the Modi govt for bringing all member states to a consensus on the New Delhi Declaration.

Vladimir Putin amidst criticism of vote rigging and Kyiv's push to reclaim its land. The Council of Europe, Europe's leading rights group, called the week-long vote a flagrant violation of international law, and Kyiv and its allies say it was an illegal attempt to tighten Moscow's grip over regions in Ukraine's south and east. The overwhelming vote across Russia and in the annexed regions for the dominance of Putin's United Russia party has delivered on the Kremlin's long-repeated domestic message that Putin is by far the strongest guarantor of stability. But in the regions voting, electoral competition was limited, as strong candidates, including some from Russia's main opposition Communist Party, were blocked from running by authorities.Stanislav Andreychuk, co-chair of Golos, a voter rights' group designated a «foreign agent» by the Russian government, said instances of vote rigging in many parts of the country showed that «these are not real elections». Andreychuk said his organisation had received reports of opposition candidates being detained, having their cars vandalised, and, in one case, military draft papers being served to election observers. «They are doing some absolutely unthinkable things», he said. The Kremlin says opinion polls and numerous election wins show that Putin is by far the most popular politician in Russia and that elections are free and fair.MAJOR PARTIES LOYAL TO PUTINAll significant, legal political forces in Russia, including the patchwork of opposition parties that provide a semblance of competition at the polls, are broadly loyal to Putin and his 18-month-old war in Ukraine. Across the country, United Russia won every provincial governor's race it contested. Among the regional chiefs

typhoon kept southern China drenched for the seventh day as slow-moving storm clouds drifted from Guangdong on the coast to Guangxi, flooding low-lying areas, blocking roads and trapping residents. In the rural county of Bobai in Guangxi region, rescuers on assault boats have scrambled to pull people to safety since Sunday night as water more than 2 metres (6.6 feet) deep stranded residents in low-rise homes, state media reported on Monday. Heavy rain is expected to persist in Guangxi over the next few days. Haikui has weakened from a typhoon to a tropical storm since making landfall in Fujian province on Sept. 5, but its residual circulation has continued to wreak havoc in southern China, with the populous city of Shenzhen deluged by the heaviest rain since records began in 1952.

AP, the emergency landing occurred around 4:15 p.m. on a Sunday, and the flight had originated from Chengdu in China's Sichuan province, according to a statement from Changi Airport posted on its Facebook page. “Nine people had minor injuries related to smoke inhalation and abrasions during the evacuation", the statement said.

Joe Biden engaged in talks with Chinese Premier Li Qiang at the G20 summit held in New Delhi. This marks the most senior-level interaction between the US and China in nearly 10 months. Li Qiang stood in for President Xi Jinping, whose absence at the summit raised eyebrows.

G20 Summit over the weekend with many dubbing the New Delhi Leaders' Declaration a ‘coup’ for the Narendra Modi government. The Prime Minister also held bilateral talks with leading global leaders in attendance – including US President Joe Biden during this time. “We held substantial discussions on how to strengthen the partnership between India and the United States…I raised the importance of respecting human rights and the vital role the civil society and a free press have in building a strong and prosperous country with PM Modi," Biden said on Sunday while addressing a press conference in Vietnam.

India’s Prime Minister Narendra Modi touted his country as well-placed to bridge gaps in the Group of 20 top economies and solve global problems

By Jamie McGeever

Startup20 engagement group, which was launched under India’s presidency, will continue under the next presidency, according to the G20 leaders’ declaration in New Delhi. Stakeholders in the startup system welcomed the move, saying group will work on implementing the recommendations made over the next few years. “We recognise that startups and MSMEs are natural engines of growth. They are key to socio-economic transformation by driving innovation and creating employment. We welcome the establishment of the Startup20 Engagement Group during India’s G20 presidency and its continuation,” the declaration said. The engagement group had formed three task forces under it—foundation and alliances, finance, and inclusion and sustainability—and was chaired by Chintan Vaishnav, mission director of Niti Aayog’s flagship entrepreneurship initiative, Atal Innovation Mission. Peak XV Partners MD Rajan Anandan, who was also the cochair of the finance taskforce, said one of the most significant recommendations is that every G20 nation should invest 1% of their GDP into startups by 2030.

Narendra Modi as an agreement signed with the US, the UAE, Saudi Arabia, France, Germany, Italy and the EU Commission, we have hope that such a modern “Silk Route" can get the better of China’s Belt and Road Initiative. For one, the logic here is trade connectivity, not loan entrapment or power projection by anyone.

Narendra Modi on Sunday urged world leaders assembled at the G20 leaders’ summit to make global structures, including the UN Security Council, reflective of current realities. Speaking at a summit session, Modi made India’s claim for permanent membership of the UNSC unambiguous and cautioned that it is a natural law that individuals and institutions that do not adapt to change tend to lose their relevance over time.

Europe-West Asia-India transit corridor reinforces Europe's shift away from Russian energy sources in favour of supply from the Persian Gulf, a part of which is processed in India for re-export. The corridor also establishes an alternative to the Suez Canal, which is emerging as a choke point for just-in-time global supply chains.

BEIJING (Reuters) — China's financial regulator on Sunday reduced the risk weighting it attaches to insurance companies' holdings of blue-chip shares and tech stocks, encouraging them to invest more in the country's lagging stock market.

(Reuters) — The United States and Saudi Arabia are in talks to secure metals in Africa needed to help them with their energy transitions, the Wall Street Journal reported on Sunday, citing people with knowledge of the talks.

By Nandita Bose, Francesco Guarascio and Trevor Hunnicutt

By Brenda Goh

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: GM allies with Tesla; charging startups in need of a boost; all eyes on Stellantis.

China came around to support the New Delhi declaration at the G20 summit in the backdrop of paragraph eight in the document that deals with the Ukraine situation differently than the Bali declaration. The Chinese were satisfied with the formulation on Ukraine and the Chinese premier Li Qiang, who addressed leaders, emphasised the need to make the bloc an economic forum rather than a political platform, which was later reflected in the New Delhi declaration, ET has learnt. «Concerning the war in Ukraine, while recalling the discussion in Bali, we reiterated our national positions and resolutions adopted at the UN Security Council and the UN General Assembly (resolution nos. ES-11/1 and ES-11/6) and underscored that all states must act in a manner consistent with the purposes and principles of the UN Charter in its entirety,» the New Delhi declaration said. The Bali declaration was more sharply worded against Russia with specific mention of voting patterns in the UNSC. The New Delhi declaration also reaffirmed that G20 is the premier forum for international economic cooperation.

G20 summit was a blockbuster — no two ways about it. India managed to forge consensus, produce a clean communique, announce a mega connectivity project linking different worlds and welcome the African Union (AU) as a new member. Broad message to those creating an alternate order: the wait time got longer. G20 as a group of both rich and developing countries, established and emerging markets, can work together when it wants to, and listen and learn when it wants to — especially when the wolf is at the door.

NEW DELHI : Prime Minister Narendra Modi and French President Emmanuel Macron on Sunday decided to expand production of advanced defence technologies in India, including for third countries in the Indo-Pacific region and beyond. The two leaders were meeting bilaterally on the sidelines of the G20 leaders’ summit in New Delhi.