Taiwan Financial News

Singapore: US Defense Secretary Lloyd Austin said Saturday the Indo-Pacific region remained a «priority» for Washington, saying the United States was secure «only if Asia is». Lloyd made the remarks at a major security forum in Singapore, a day after he met with his Chinese counterpart Dong Jun. «The United States can be secure only if Asia is and that's why the United States has long maintained its presence in this region,» Austin told the Shangri-La Dialogue, which in recent years has become a barometer for US-China relations.

SEOUL—China’s panda diplomacy isn’t looking so cuddly all of a sudden. Beijing is accused of mistreating Fu Bao, a recently returned female panda from South Korea. The 4-year-old panda has a following in South Korea akin to a pop star, with merchandise, online fan groups and even birthday billboards.

The U.S. Department of Justice (DOJ) announced on May 29 an international law enforcement operation to disrupt the 911 S5 botnet, a major cybercriminal enterprise, which resulted in the arrest of YunHe Wang, a Chinese national, for his role in deploying malware and operating a proxy service used for various cybercrimes.

China's Commerce Ministry has announced it will restrict exports of some aviation and aerospace-related equipment and technology beginning July 1

Shares have opened higher in Europe after a retreat in Asia

import of capital goods and machinery to build factories as manufacturers in China and Southeast Asia embark on their own expansion plans. That could potentially hobble their ability to meet any rise in consumption demand. Reliance is among Indian companies facing such challenges as it looks to set up production facilities for its fast-moving consumer goods (FMCG) business and scale it up, said a senior executive, citing difficulties in establishing bottling plants for Campa Cola with machinery suppliers asking for a year and more. Reliance didn't respond to queries.

The U.S. State Department has set up an eight-person team known as “the firm” to provide help to countries cut off from Chinese trade

Shares have advanced in Europe and Asia ahead of Monday's Memorial Day holiday in the United States

Inflation in the US saw a slower-than-expected rise in April, with the consumer price index (CPI) increasing by 3.4% year-over-year, according to the latest data. The core CPI, which strips out the volatile food and energy sectors, softened for the first time in six months.

Hong Kong: During President Vladimir Putin's visit to China in mid-May, he said Russia and China are «jointly committed to promoting the establishment of a more democratic multipolar world order». To countries that do consider themselves democratic, Putin's notion was laughable, for both China and Russia are ruled tightly by autocratic rulers who have no intention of losing their grip on power. In fact, Professor Steve Tsang, Director of the SOAS China Institute at SOAS University of London, told ANI, «The biggest challenge China faces in governance terms is the concentration of power in Xi's hands.»

Taiwan's Ministry of National Defence (MND) said on Monday that it has detected 21 Chinese military aircraft, 11 Chinese naval vessels and four Chinese coast guard vessels operating near its territory from 6 am (local time) on Sunday to 6 am (local time) on Monday. Out of these 21 Chinese military aircraft, 10 entered Taiwan's southwestern and southeastern air defense identification zone (ADIZ), according to Taiwan's MND. In response to the Chinese activity, Taiwanese armed forces have monitored the situation and deployed naval vessels, and coastal missiles to monitor the situation. In a statement shared on X, Taiwan's MND stated, «21 PLA aircraft, 11 PLAN vessels, and 4 CCG vessels operating around Taiwan were detected up until 6 a.m. (UTC+8) today. 10 of the aircraft entered Taiwan's southwestern and southeastern ADIZ. ROC Armed Forces have monitored the situation and employed CAP aircraft, Navy vessels, and coastal missile systems in response to the detected activities.»

Leaders of China and Japan arrived in Seoul to meet separately with South Korea's president on Sunday, a day before they gather for their first trilateral meeting in more than four years. No major announcement is expected from Monday's trilateral South Korea-China-Japan meeting. But just resuming their highest-level, three-way talks is a good sign and suggests the three Asian neighbors are intent on improving their relations.

Taiwan's president said Sunday he was still open to working with China on building "mutual understanding and reconciliation", days after Beijing launched military drills around the self-ruled island in response to his inauguration speech. President Lai Ching-te was sworn into office on Monday, and China — which claims democratic Taiwan as part of its territory and regards Lai as a «dangerous separatist» — launched military games around the island three days later. Fighter jets, naval vessels and coast guard ships encircled Taiwan until Friday night, which Chinese military analysts said was to practice seizing it.

Joint Sword-2024A military exercise around Taiwan, US experts analysed that Beijing has an intent to make large-scale military drills around the island a regular move with the China Coast Guard (CCG) to play a more important role in a blockade, reported Focus Taiwan. Center for Strategic and International Studies (CSIS), a think tank in Washington, issued an article, where Bonny Lin, head of the CSIC's China Power Project, and fellow researcher Brian Hart analysed the two-day Joint Sword-2024A, which was launched on Thursday, three days after President Lai Ching-te was sworn in on Monday. Joint Sword-2024A was the third round of large-scale military exercises China has staged around Taiwan in recent years.

Taiwan Ministry of Defence, on Sunday, detected seven China's People's Liberation Army (PLA) aircraft, as well as over 10 China's People's Liberation Army Navy (PLAN) vessels around Taiwan. According to Taiwan's MND statement, seven PLA aircraft, 14 PLAN vessels, and four China Coast Guard (CCG) vessels were tracked operating in the island's vicinity up until 6 am. In response, Taiwan's armed forces monitored and responded to the situation accordingly.

US Defense Secretary Lloyd Austin will meet his Chinese counterpart, the Pentagon announced Friday, after Beijing carried out war games around Taiwan in a sign to the US-backed democracy's new leader.

There will be a dead end for those who engage in 'Taiwan independence', and to connive support for 'Taiwan independence' will only backfire" Chinese Foreign Ministry spokesperson Wang Wenbin said on Friday.He also said the US is in no position to point fingers at China on the Taiwan question. "Nothing will deter us from defending our sovereignty and territorial integrity, and we will do anything necessary to thwart any move aimed at “Taiwan independence"," Wenbin added.Beijing considers Taiwan part of its territory and has threatened force to control it.

Asian stocks fell on Friday, while the dollar advanced as strong U.S. economic data bolstered the prospect of interest rates staying higher for longer and the Federal Reserve taking its time in cutting rates, keeping investors away from risky assets. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5% and was on course for a 1% weekly decline, snapping its four-week winning streak. Japan's Nikkei fell 1.45%.

China conducts war games near Taiwan to test ability to seize power | 10 updatesGan’s remarks come as China started its most expansive military drills in a year around Taiwan, ramping up pressure on Lai Ching-te just days after he took over as the island’s new president.Taiwan-China standoff and 'punishment' military drills: All you need to know“The US-China relationship is the most consequential in the world but is unfortunately marked by deep suspicion and distrust," Gan said.

Beijing on Friday said ongoing drills encircling Taiwan were testing the military's ability to seize power over the self-ruled island, days after its new president was sworn in. China's military kicked off the war games Thursday morning, surrounding Taiwan with naval vessels and military aircraft, while vowing the blood of "independence forces" on the island would flow. The exercises — codenamed «Joint Sword-2024A» — come after Lai Ching-te took office as Taiwan's new president this week and made an inauguration speech that China denounced as a «confession of independence».

Taipei's coast guard warned off Chinese vessels. Beijing commenced two days of war games, dubbed «Joint Sword-2024A», as a «strong punishment» for Taiwan's «separatist acts». They come after the island swore in President Lai Ching-te, who said in his inaugural speech on Monday that Taiwan «must demonstrate our resolution to defend our nation».