News Updates

21 July - 31 July
  • Xi calls for expanding "BRICS Plus" cooperation to address common challenges
    Xi made the remarks in a speech to an outreach dialogue grouping leaders from the BRICS, the "BRICS Plus" and African countries at the 10th BRICS summit in South Africa. (Xinhua, July 28, 2018)
  • BRICS Plus model can unite developing economies
    With a privileged geographical position as a gateway connecting the continents of Africa and Asia, Egypt perceives that the BRICS Plus model provides an opportunity for open and diversified integration in the global economy. (People's Daily, July 28, 2018)
  • China and UK agreed to safeguard global trade
    China and London agreed to continue jointly safeguarding multilateralism and global free trade as well as the World Trade Organization rules during the 9th China-UK Strategic Dialogue in the Chinese capital. The dialogue was co-chaired by State Councilor and Foreign Minister Wang Yi and UK Foreign Secretary Jeremy Hunt. (China Daily, July 31, 2018)
  • The Intern¬ational Monetary Fund (IMF) offered a generally positive picture of China’s economic performance along with optimistic predictions of continuing development. The IMF report came a day after Chinese President Xi Jinping warned at a Brics summit meeting in South Africa that there would be “no winners” in a trade war among the world’s major economies. “The Chinese economy continues to perform strongly. GDP growth accelerated to 6.9 per cent in 2017, driven by a cyclical rebound in global trade,” the IMF’s annual “Article IV” consultative report noted. (Dawn News, July 28, 2018)
  • Army games to promote military exchanges
    The International Army Games 2018 will offer a good platform for global military exchanges and a bridge for friendship and cooperation, a senior official said ahead of the games' start on Monday in Korla, Xinjiang Uygur autonomous region. Military units from 10 countries-including China, Russia, Iran and Pakistan-will compete in Korla in three contests. (China Daily, July 30, 2018)
  • China, UAE expect closer economic cooperation under B&R Initiative
    An economic forum on the business opportunities between the United Arab Emirates (UAE) and China was held on July 20 in the UAE's capital Abu Dhabi, as part of Chinese President Xi Jinping's state visit to the Arab country. Chinese Minister of Commerce Zhong Shan pointed to the bright future for the pragmatic cooperation between the two countries against the backdrop of economic globalization and diversification, stressing China’s determination to uphold global free trade against unilateralism and protectionism. (Xinhua, July 22, 2018)
  • Xi’s visit to UAE highlights China’s rising interest in Middle East. (Reuters, July 21, 2018)
  • US Local governments expect stronger cooperation with China: Chinese diplomat. (People's Daily, July 22, 2018)
  • Commentary: It’s impossible for US to reverse global trend of free trade. (People’s Daily, July 19, 2018)
14th July - 20th July
  • Xi to promote practical cooperation, global governance reform in first overseas trip after re-election Chinese President Xi Jinping is to carry out a major diplomatic move from July 19 to 28, paying state visits to the United Arab Emirates (UAE), Senegal, Rwanda and South Africa, attending the 10th BRICS summit in Johannesburg, and visiting Mauritius during a stopover.
    The overseas trip, his first after being re-elected Chinese president in March, is aimed at pushing for concerted efforts to further boost common development and improve global governance against the backdrop of profound changes in the international circumstances. (Xinhua, July 14, 2018)
  • Xi urged open world economy. China and the European Union should make concerted efforts to safeguard multilateralism, the rules-based free trade system and an open world economy, President Xi Jinping said as he met with visiting European Council President Donald Tusk and European Commission President Jean-Claude Juncker at the Diaoyutai State Guesthouse in Beijing. Being among the world's largest economies and trading entities, China and the European Union are also the beneficiaries and defenders of the multilateral trading system, he said. The two sides should follow the trend of a multipolar world and the globalization of world economy, step up strategic dialogue and coordination, promote trade and investment liberalization and facilitation, refine global governance and move forward the cause of human peace and development, Xi said. (China Daily, July 17, 2018)
  • In times of geopolitical uncertainties, the 20th EU-China summit will be an opportunity to show that our cooperation is important not only for Europe and China, but also for the rest of the world. We must support and strengthen the open, rules-based system of global governance, which is the basis for economic prosperity and sustainable globalization, and advance on issues like climate change, foreign policy and Eurasian connectivity. (Global Times, July 15, 2018)
  • China refuted US accusations of violating WTO rules, saying it would continue to abide by them, and calling on the United States to respect and obey WTO rules.
  • "China has always fulfilled its obligations, kept its promises and made significant contributions to the world economy by paying great efforts and costs since it joined the WTO 17 years ago," Foreign Ministry spokesperson Hua Chunying told a routine press briefing. (Xinhua, July 18, 2018)
  • PLA drill in East China Sea ‘tailored for Taiwan separatists’, a move analysts believe will send a strong warning to Taiwan separatists. (Global Times, July 18, 2018)
  • China remains attractive to foreign investment thanks to its massive market opportunities, continuous efforts to ease market access for foreign investors and development of a favorable investment environment.
  • Global foreign direct investment (FDI) fell by 23 percent to $1.43 trillion in 2017, according to the World Investment Report 2018, released by the United Nations Conference on Trade and Development in June. The year saw sluggish global foreign direct investment. On the contrary, China attracted $136 billion in its FDI last year, hitting a new record high. (People's Daily Online, July 17, 2018)
  • BRICS won’t become an anti-West alliance, say experts
    The 10th BRICS Summit will be held in Johannesburg, South Africa from July 25 to 27 and Chinese experts say the summit will focus more on uniting members and deepening their industrial cooperation amid the common threats of protectionism and unilateralism.
  • China’s countermeasures in the trade war are justifiable and legitimate, experts pointed out, believing that such response aims to safeguard China’s core interests and fundamental interests of its people, as well as to protect the principle of free trade and the multilateral trading system. (People's Daily, July 17, 2018)
  • A top forum on world security was held in Beijing over the weekend with the trade war between China and the US remaining a hot topic, and Chinese experts urged countries to be more united to fight against the constant uncertainty of the international situation. The seventh World Peace Forum, themed "Constructing a Security Community: Equality, Equity and Justice" closed in Beijing on Sunday. (Global Times, July 15, 2018)
  • Western media misread Sri Lanka’s debt issue, China says. Recently, some Western media outlets have accused China of using debt trap to expand its influence to Sri Lanka and other countries along the Belt and Road route. They allege that China lures countries of strategic significance into the debt trap by giving them huge loans and then taking over infrastructural projects there after these less developed countries cannot afford to repay the debts. Indian scholar Brahma Chellaney described it as debt-trap diplomacy. But is it really the case?. (Global Times, July 15, 2018)
  • China-Pakistan security cooperation can support progress of economic corridor. (Global Times, July 15, 2018)
  • China's gross domestic product expanded 6.8 percent year on year in the first half of 2018 to about 41.90 trillion yuan ($6.27 trillion), data from the National Bureau of Statistics (NBS) showed. In the second quarter, China's GDP rose 6.7 percent year on year, slightly lower from 6.8 percent in the first quarter, according to NBS data. (Xinhua, July 16, 2018)
  • China’s ageing population problem worsens as birth and marriage rates fall. Demographer puts lower birth rate down to a drop in the number of women at childbearing age. (South China Morning Post, July 16, 2018)
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