IRS |Institute of Regional Studies

Islamabad

News Updates

9th July - 13th July
  • Main reason for U.S. trade deficit doesn't lie with China: experts
    Slander from the U.S. insinuating that China is gaining advantages through unfair trade practices is a distortion of facts and is therefore a groundless claim, noted China’s official statement regarding the recently-released Section 301 Action by the U.S. (People's Daily, July 13, 2018)
  • China chemical plant blast kills at least 19
    The explosion is the latest deadly industrial incident in the world's largest producer of chemicals. (Aljazeera, July 13, 2018)
  • China’s carbon market to play vital role in emission reduction in 2020. China's carbon emission trading system will gradually mature over the next few years and play a crucial role in emission reduction from 2020, says a report released in Beijing on July 10, Science and Technology Daily reported. The price of carbon dioxide is predicted to rise from 51 yuan ($7.7) per ton in 2020 to 86 yuan in 2025. (People's Daily, July 11, 2018)
  • The zero-sum mentality displayed by the U.S. is against trade rules. It not only hampers China-U.S. economic and trade cooperation, but also brings great uncertainty to the global economy: commentary. (People's Daily, July 09, 2018)
  • Xi vows clean, beautiful world. President Xi Jinping has extended his greetings to the opening of the Eco Forum Global Annual Conference Guiyang 2018, which opened on Saturday in the capital of southwestern China's Gui-zhou province. (China Daily, July 09, 2018)
  • With Li’s visit, China, Europe committed to free trade
    Chinese Premier Li Keqiang and his wife ended their trip to Europe with a private dinner with German Chancellor Angela Merkel and her husband at Hugos Restaurant.
    They chatted about bilateral ties, cooperation, as well as history and art. (Xinhua, July 12, 2018)
1st July - 08th July
  • China firmly supports multilateral trading system. The white paper titled "China and the World Trade Organization (WTO)", release on June 28, shows that China is firmly supporting the multilateral trading system. Global media commented that China has fulfilled its commitments, complied with rules and actively participated in the improvement of the multilateral trading system. (People's Daily Online, July 03, 2018)
  • Belt and Road dispute settlement mechanism discussed at Beijing forum. China's Ministry of Foreign Affairs and law society called on countries involved in the Belt and Road initiative (BRI) to improve international rules-based systems and establish dispute settlement mechanisms to fairly protect the rights of all parties, according to a statement from a forum on BRI legal cooperation.
  • Legal cooperation, which is indispensable to international cooperation under the BRI, should be developed on the basis of "extensive consultations, joint contributions and shared benefits," according to a statement. The parties participating in the BRI are encouraged to promote laws to enhance cooperation related to financing, taxation, transportation, intellectual property rights, labor and counter-terrorism. (Global Times, July 04, 2018)
  • China fails to attract foreign investors as US trade dispute continues to hit stocks, yuan. (South China Morning Post, July 2, 2018)
  • APTA amendment will help Asian economic integration: MOFCOM New tariff cuts under the Asia-Pacific Trade Agreement (APTA) took effect on July 1, 2018, with China's Ministry of Commerce saying they would facilitate regional economic integration in Asia.
  • "The amendment will provide member countries new economic impetus, prompt continued trade increases, facilitate economic integration and help further materialize the Belt and Road Initiative," the ministry said. Six APTA members, including China, India, the Republic of Korea and Sri Lanka, have cut tariffs by 33 percent on average for products under 10,312 tariff codes. Some products from less-developed Bangladesh and Laos will enjoy special reductions of 86 percent. (Xinhua, July 02, 2018)
  • U.S. has no stance to blame China’s economic and trade policy. Labeling China as a country conducting “unfair trade practices” actually adds fuel to the trade war started by the U.S. (People’s Daily, July 02, 2018)
  • Environmental, economic shift to transform energy demand. In the next 30 years, natural gas will be the fastest-growing energy product in China, with demand reaching about 520 billion cubic meters in 2030 and 800 billion cu m in 2050, said the Chinese Academy of Social Sciences.
  • "China's economy has shifted from a high-speed growth stage to a high-quality development stage. Promoting green development, establishing a sound economic system with green and low-carbon recycling, as well as strengthening energy saving, and environmental protection and clean energy industries are the future trend, which offer great opportunities for the development of natural gas industry," said Cai Fang, deputy head of CASS. (China Daily, July 03, 2018)
  • Xi praises successful organization of SCO Qingdao summit. President Xi Jinping commended China's Shandong Province and the city of Qingdao for successfully hosting the Shanghai Cooperation Organization (SCO) summit. (Xinhua, July 04, 2018)
  • China opens up more to achieve global win-win results. Chinese President Xi Jinping once pointed out that reform and opening-up is a great process that has seen China and other countries together achieve development and progress. 2018 marks the 40th anniversary of China’s reform and opening-up, and also the 17th anniversary of the country’s entry to the World Trade Organization (WTO). Over the past 17 years, China has deepened ties with the world, setting a great example regarding opening up. (People's Daily, July 03, 2018)
  • Xi: Cherish China-Russia ties. China and Russia should cherish their strategic partnership and support each other as they always do to safeguard their core interests, President Xi Jinping said during a meeting with Valentina Matviyenko, chairwoman of the Federation Council of Russia. (China Daily, July 05, 2018)
Credit: Nabila Jaffer

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