City Beijing Financial News

China Reform Holdings Corp, a Chinese manager of state assets, plans to raise at least 100 billion yuan ($13.70 billion) for a fund that will invest in emerging industries, the China Business News reported on Sunday. The fund has already received investment intentions from more than 20 central government-owned enterprises as well as local governments and private investors, and will start operating by the end of this year, the newspaper said. China's state-owned enterprises (SOEs) have been ramping up investment in emerging and strategic industries such as artificial intelligence, new energy, new materials and biotech as part of Beijing's SOE reforms. China Reform Holdings was set up in 2021 and tasked with deepening SOE reforms.

Justin Trudeau's allegations of Indian involvement in the assassination of Sikh separatist leader Hardeep Singh Nijjar, Canada is contemplating a shift in its foreign policy approach, as reported by the Japan Times. Trudeau's accusation concerning Nijjar's assassination on Canadian soil has strained relations between Ottawa and New Delhi, with repercussions echoing in Canada's relations with other nations, particularly China. The arrests of businessman Michael Spavor and former diplomat Michael Kovrig by Beijing on espionage charges, in retaliation for the detainment of Huawei executive Meng Wangzhou in 2018 at the request of the United States, have added to the diplomatic tensions. China-Canada relations further soured due to allegations of Chinese electoral interference and threats against Canadian lawmaker Michael Chong, resulting in record-low favorability ratings for China in Canada. Discussing engagement between the two nations has become a sensitive issue. Canada's relations with Russia are also strained due to its staunch support for Ukraine in the ongoing conflict. Canada now finds itself in a precarious position, having alienated India, China, and Russia—three significant global players. Additionally, the looming possibility of Donald Trump's return to the U.S. presidency in 2024 poses another challenge, potentially misaligning Canada's goals with its most important economic, security, and political partner.

The report in Bangladesh-based daily further highlighted that Chinese investments in water-based resources is leading to adverse impact on the environment, displacement of local people and huge debt to countries. The combination of territory grabbing and water resource hegemony by China is a threat that all countries in South and South East Asia face and their respective security environments Although, the planet is covered with 70 per cent water, but only 2.5 per cent of this is fresh water, which has led to many experts predicting the next theatre of war as the conflict over water. This is precisely why nations have begun to preserve fresh water and, in some cases, have gone beyond to become global water hegemons, as they grow and develop. One example in the list is China. Being a water-stressed country, Beijing made huge investments in water-based resources globally. However, apart from the geo-political implications, China's water hegemony has had an adverse impact on the environment, and well-being of local populations and pushed nations into debt traps due to resource-intensive investments in dam/hydroelectric projects. According to the Daily Asian Age report, China is said to have constructed a whopping 308 dams in 70 countries on various rivers (Tibet Policy Institute, September 23, 2016). The recent estimates of China's dam construction worldwide show that these dams generate a total of 81 GW of power.

Nikki Haley has claimed Beijing is «preparing for war». China has spent half a century plotting to defeat America and in some respects, the Chinese military is already at par with the US armed forces, Haley said in a major policy speech on the economy in the key early primary State of New Hampshire on Friday. Her speech comes two days after her India-American Republican rival Vivek Ramaswamy delivered a foreign policy speech on China in Ohio. Both Haley and Ramaswamy have emerged as popular GOP candidates after former US president Donald Trump. «Strength and pride are essential to our national survival, especially in the face of Communist China.

China are establishing two working groups to discuss economic and financial issues, the latest sign of a thaw in relations between the world's largest economies. The groups «will provide ongoing structured channels for frank and substantive discussions on economic and financial policy matters, as well as an exchange of information on macroeconomic and financial developments,» the US Treasury Department said in a statement Friday. Meetings will be held regularly at the vice-minister level, with officials reporting back to Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng, according to the Treasury. That framework is notably less extensive than the bilateral forums earlier this century, when gatherings featured multiple cabinet members and spanned a wide array of subject matters. The announcement comes after a string of visits to China by high-level US officials that appear to have helped stabilize ties.

For years, the Harvard College China Forum brought business moguls en masse to the university’s oak-paneled rooms, including Alibaba Group Holding Ltd. founder Jack Ma, Xiaomi Corp.’s Lei Jun, Blackstone Inc.’s Stephen Schwarzman and Bridgewater Associates LP’s Ray Dalio. There at the invitation of students, some of whom also happen to be the children of Chinese billionaires, the moneyed classes of the world’s two largest economies would hobnob every year in a lively exchange of ideas, demonstrating wealth’s power to bridge geopolitical rifts. 

China is considering relaxing the rules that cap foreign ownership in domestic publicly traded firms, people familiar with the matter said, as it seeks to lure global funds back to its $9.4 trillion stock market. 

AFP report. India in lodging its opposition said, “China's action violates both the spirit of the Asian Games and the rules governing their conduct, which explicitly prohibits discrimination against competitors from member states." External Affairs Ministry spokesman Arindam Bagchi said in a statement that Union Sports Minister Anurag Thakur's trip to the Hangzhou 2022 Asian Games was cancelled in lodging protest over China's action. The three women wushu fighters are from the northeastern Indian state of Arunachal Pradesh.

BEIJING — People flocked to a flagship Apple store in downtown Beijing on Friday morning to pick up the latest iPhone, despite market worries that nationalistic fervor would dampen the U.S. company's sales in China.

By Nicoco Chan and Yelin Mo

Andy Murray returned to China for the first time in four years and won his first-round match at the Zhuhai Championships on Thursday. He thrashed local wild card Mo Ye Cong 7-5, 6-3. It was Andy Murray's fifth tour title in China and the first since the Beijing Open in 2016. The seventh-seeded British player overpowered his 23-year-old opponent in the second set to take the match in 1 hour and 42 minutes.

The son of jailed Hong Kong media mogul and prominent pro-democracy activist Jimmy Lai says he doesn't want to see his father die in detention, as his lawyers raised the prospect that his long-delayed trial may be pushed back indefinitely

The RCMP is investigating the death of a B.C. man who was a target of Operation Fox Hunt, a Chinese government campaign to pressure expatriates and silence opponents.

By Kevin Yao

China's top diplomat, then the commander and political commissar of the People's Liberation Army Rocket Force (PLARF), and now the country's minister of defense. The list of disappearing leaders just continues to mount, as Beijing draws a veil of secrecy over the obvious failure of the regime's efforts to curb personal greed and excesses. Speculation about the fate of Defense Minister Li Shangfu took on a new luster when US Ambassador to Japan Rahm Emanuel cheekily tweeted that the «unemployment rate» in the Chinese government was very high.

BEIJING (Reuters) — The 10th China-EU High-Level Economic and Trade Dialogue will be held in Beijing on Sept. 25, the Chinese commerce ministry said on Thursday.

Syrian President Bashar Assad arrived in China on Thursday on his first visit to the country since the start of Syria's 12-year conflict during which Beijing has been one of his main backers. China's foreign ministry said Assad would attend the opening ceremony of the Asian Games, an international sports event beginning Saturday in the eastern Chinese city of Hangzhou. Assad's office said earlier that the Syrian leader was invited by Chinese President Xi Jinping for a summit and would bring with him a high-ranking Syrian delegation. China has been expanding its reach in the Middle East after mediating a deal in March between Saudi Arabia and Iran, and it continues to support Assad in the Syrian conflict, which has killed half a million people and left large parts of the nation in ruins. China could play a major role in the future in Syria's reconstruction, which is expected to cost tens of billions of dollars.

Vivek Ramaswamy on Thursday will unveil his plan on how the US will «declare independence from China.» The details regarding the event mentioned on Ramaswamy's official website read, «Political outsider and presidential candidate Vivek Ramaswamy will offer unprecedented detail on how the United States will declare independence from Communist China in a speech on Thursday, September 21.» In an address that he will deliver in Ohio's Columbus on Thursday, Ramaswamy said he will «delineate the heretofore-unexamined connection between the rise of 'stakeholder capitalism' in the West and China's use of that trend to achieve economic parity with the US by failing to adopt the constraints that multinational institutions apply to the US», Fox News reported citing a preview of his speech. Further, the preview of his policy speech also includes the use of forced data and technology transfers and even «pro-CCP US lobbying as a condition» to acquire licenses to do business in China, including but not limited to applying constraints in the US while not being able to apply such caps in Beijing. Ramaswamy will speak about what he terms a «pro-trade approach to sensibly decoupling from China» and «knocked conservatives» who do not support a «trade-led agenda» and call it «unserious.» He will call for declaring independence from the climate agenda of the US and «declare independence from China» abroad. He will emphasise that the climate agenda has nothing to do with climate and has everything to do with «allowing Beijing to catch up to the US». The preview of the speech reads further, «Electric vehicle agenda worsens dependence on China for rare earth minerals and mineral refining capacity: when U.S.

Justin Trudeau's allegations against India's «role» in killing of a Sikh terrorist on Canadian soil could be a diversionary tactic to save his political skin with the ruling Liberal Party facing a probe for its links with China. Trudeau is facing heat in the case and he may have been motivated to label unsubstantiated allegations against India as a diversionary tactic, according to observers of Canadian politics. «The allegation on the floor of Parliament is a diversionary plot on the Canadian PM's part to distract attention from the public inquiry of election interference in Canada that has just started and which will inevitably show the Liberal Party's deep ties to Beijing and Trudeau's own implication therein. He has essentially chosen to throw the India relationship under the bus to save his political skin,» quipped a source who did not want to be named. Trudeau's government has faced growing criticism over the past several months after media reports surfaced alleging that China sought to interfere in the 2019 and 2021 Canadian elections.Also read: Hate crimes, violence in Canada, says India's travel advisory Earlier this year, a Canadian lawmaker stepped down from Trudeau's Liberal Party after a media report raised questions about his dealings with China.

Leading Chinese planners have voiced confidence in the outlook for the world's second-largest economy, holding key interest rates steady amid signs of improvement in some areas such as services

BEIJING/SHANGHAI (Reuters) — A Huawei Technologies unit is shipping new Chinese-made chips for surveillance cameras in a fresh sign the Chinese tech giant is finding ways around four years of U.S. export controls, two sources briefed on the unit's efforts said.