China Financial News

Taiwan girded for the arrival of Typhoon Haikui on Sunday, which is expected to bring torrential rain and strong winds to the island's south and east. Haikui is forecast to make landfall in the mountainous and sparsely populated far southeast of Taiwan late Sunday afternoon, with counties and cities in the east and south cancelling classes and declaring a day off for workers. Haikui is a much weaker storm than Typhoon Saola which hit Hong Kong and the southern Chinese province of Guangdong on Saturday.

Pope Francis on Saturday praised Mongolia's tradition of religious freedom dating to the times of its founder, Genghis Khan, as he opened the first-ever papal visit to the Asian nation with a word of encouragement to its tiny Catholic flock. Francis met with President Ukhnaagiin Khurelsukh inside a traditional Mongolian ger, or round yurt, set up inside the state palace and wrote a message in the guest book that he was visiting «a country young and ancient, modern and rich of tradition,» as a pilgrim of peace. Francis is in Mongolia to minister to one of the world's newest and smallest Catholic communities — around 1,450 Mongolians are Catholic — and make a diplomatic foray into a region where the Holy See has long had troubled relations, with Russia to the north and China to the south. While Christianity has been present in the region for hundreds of years, the Catholic Church has only had a sanctioned presence in Mongolia since 1992, after the country abandoned its Soviet-allied communist government and enshrined religious freedom in its constitution. While Catholicism is tolerated and legal, foreign missionaries working here lament that the government restricts their numbers and treats the church as a nongovernmental organization — limitations that the Holy See is hoping will be lifted with a comprehensive bilateral agreement. In his remarks, Francis praised Mongolia's tradition of religious liberty, noting that such tolerance existed even during the period of the Mongol Empire's vast expansion over much of the world.

rice market. The world’s top shipper has placed restrictions on all of its exports, panicking governments from Asia to West Africa. Other big growers have tried to reassure consumers that rice supply is ample, but it’s done little to calm the market. Rice prices in Asia jumped back near the highest level in almost 15 years on Wednesday after India slapped more curbs on parboiled and basmati over the previous weekend.

G20 Summit in India next week, instead of President Xi Jinping who is going to skip the conclave, said people familiar with the development on Saturday. “The Chinese President is not traveling to India for the G20 Summit. Premier Li is likely to represent China at the Summit," said one of the people cited above on the condition of anonymity.

domestic flights and the evacuation of nearly 3,000 individuals. The typhoon is anticipated to bring heavy rainfall and powerful winds to the southern and eastern regions of the island. Haikui is predicted to hit the remote and thinly populated southeastern part of Taiwan, characterized by mountainous terrain, during late Sunday afternoon.

G20 Summit 2023. For the first time in history, India has become the host the the Group of 20 Nations (popularly known as G20).

leadership of the group to a professional manager four years ago". Gou's campaign team declined to comment. Asked on Monday about the issue of conflict of interest with Gou being a major shareholder of Foxconn, which has massive investment in China, Gou said he's willing to "sacrifice" his personal assets in China in the event of a Chinese attack.

Singapore's President-elect Tharman Shanmugaratnam on Saturday said he was surprised by «such a high degree of endorsement», and that he was very serious about wanting to fulfil the mandate given by the people. Singapore-born Indian-origin candidate in a predominantly Chinese multi-racial Singapore, 66-year-old Tharman won the presidential election with a massive vote share of 70.4% in the early hours of Saturday. This is the first contested presidential election since 2011. Speaking to journalists at his first doorstop interview since the official result was declared, Tharman said, «I did not expect such a high degree of endorsement, which also means there was a fair number of people who would normally not vote in favour of the ruling party, who decided that this was not a political election, this is not a General Election.

G20 Summit, Northern Railways has decided to cancel and divert over 200 passenger trains temporarily from September 8 to 11 here, a notification stated on Saturday. According to the schedule, over 90 trains have been cancelled on September 9. More than 100 passenger trains will be cancelled on September 10 as well.

ALSO READ: G20 Summit in Delhi: Offices to opt WFH from Sept 8-10; Check latest traffic advisory for metro, bus services Delhi Police conducted full dress rehearsals in different parts of the national capital on Saturday, advising people to check real-time traffic updates at the 'G-20 Virtual Help Desk' for route suggestions. These route suggestions are for commuting from/to the airport, railway stations, or bus terminals.

HONG KONG—A new Cold War-style competition has put the moon back at the center of global space ambitions, but the U.S. has a new chief rival. More nations and companies are venturing into space, crowding the calendar with planned robotic landings for lunar research.

G20 Summit in Delhi. The statue symbolises Lord Shiva as the 'lord of dance' and his cosmic power of creation and destruction. "We are installing the tallest-ever statue of Nataraja, in the campus of Bharat Mandapam, the venue of the G20 Summit," PTI reported quoting a source.

Russia and Mexico skipping the G20 Summit in India a closer look at the past summits revealed that not Heads of State among the members have always attended all Summits. While Russian President Vladimir Putin spoke to PM Narendra Modi and announced that he would skip the Summit, it is widely believed that Presidents of China and Mexico will be the other absentees. As is evident, the level of attendance at global summits varies from year to year. In today's world with so many demands on the leaders' time, it is not always possible for every leader to attend every summit, sources pointed out. From time to time, many leaders skip summits for their own reasons. The most glaring example is the 2021 G20 Summit in Italy where there was no major geopolitical or health reason for leaders to skip it, but the circumstances happened in such a way that six countries attended below Head of State(HOS)/ Head of Government (HOG )level. These things do not reflect anything about the host country, sources said. From 2008, there have been 16 physical summits of the G20, and one virtual summit (Saudi Arabia, 2020). There were two summits each in 2009 and 2010. Out of these 16 physical summits, except the first three summits in 2008 and 2009, there has never been a single occasion from 2010 till now when every country has attended at HOS/HOG level. Six times there was one country below HOS/HOG: 2010, 2011, 2012, 2013, 2016 & 2017. Five times there were two countries below HOS/HOG: 2010, 2014, 2015, 2018 & 2019. One time there were three countries below HOS/HOG: 2022. One time there were six countries below HOS/HOG: 2021 (before Ukraine, after Covid)

External Affairs Minister S Jaishankar for the speedy clearance of visas for Chinese technicians needed to install a Pashmina dehairing machine here, an official said on Saturday. The Lt Governor was apprised of the issue by the All Changthang Pashmina Growers Co-operative Marketing Society president Dorjay Stanzin during his visit to the Pashmina Processing and Dehairing Plant in the industrial area here, the official said. Stanzin told Mishra that the machine was procured from China after the visit of a team comprising officials from the central government.

Chandrayaan-3 on the South Pole of the Moon, a historic first. Somanath received a handmade model of the Vikram lander model from a very young neighbour. ISRO scientist PV Venkitakrishnan shared the news of the heart-warming gesture on microblogging site ‘X’ (formerly Twitter).

G20 Summit in national capital Delhi. According to a Bloomberg report, Prime Minister Justin Trudeau's government first pressed pause and requested India to follow suit last month. Canadian Press had first reported the request to ‘pause’ trade talks between India and Canada.

China’s economic troubles have so far been a boon to other Asian markets. But if the world’s second largest economy continues to turn sour, things could start to look uglier for them too. Major Asian stock markets have been doing well in 2023.

China's economic slowdown has alarmed international leaders and investors, as per CNN. For the first time in decades, the world's second economy is itself in trouble. Hong Kong's Hang Seng (HSI) Index slid into a bear market on Friday, having fallen more than 20 per cent from its recent peak in January. The Chinese yuan, last week, fell to its lowest level in 16 years, prompting the central bank to make its biggest defence of the currency on record by setting a much higher rate to the dollar than the estimated market value. The issue is that, after a rapid spurt of activity earlier this year following the lifting of COVID lockdowns, growth is stalling.

Trade, investment, people-to-people links as well as regional and international security are among the issues up for discussion in next Thursday's talks, Foreign Minster Penny Wong's office said. The high-level dialogue had been held annually from 2014 until it was stopped in 2020. In a statement, Wong added that the talks represent 'another step towards increasing bilateral engagement and stabilising our relationship with China,' Former trade minister Craig Emerson will head the Australian delegation, which also includes their former foreign affairs minister Julie Bishop.

BEIJING/SHANGHAI (Reuters) -Chinese President Xi Jinping said on Saturday that China would widen market access in the service industry and promote cross-border services trade.

By Xie Yu, Kevin Huang and Li Gu