BEIJING (Reuters) - China and India aim to hold joint army drills in China before the end of this year, China's Defence Ministry said on Thursday, as the two countries continue a rapid rapprochement. Relations between the Asian giants were strained last year over a 73-day military face-off in a remote, high-altitude stretch of their disputed Himalayan border. But the neighbours have over recent months been working on mending ties and visiting Chinese Defence Minister Wei Fenghe met Indian Prime Minister Narendra Modi in New Delhi in August. Speaking at a regular monthly news briefing, Chinese Defence Ministry spokesman Wu Qian said that the joint exercise was planned for before the end of this year. The two countries would meet in the southwestern Chinese city of Chengdu next month to discuss the arrangements, he added, without giving other details. India and China fought a war in 1962 and the unresolved dispute over stretches of their 3,500 km (2,200 miles) border has clouded … [Read more...] about China, India aim to hold army drills in China by end of year
China
Impact of Sino-U.S. trade row on China’s cross-border capital flows under control
BEIJING (Reuters) - The impact of China-U.S. trade frictions on China's cross-border capital flows are largely under control, the foreign exchange regulator said on Thursday. China will continue opening up its capital markets in an orderly manner and further ease requirements for capital outbound remittance for investors its under Qualified Foreign Institutional Investor (QFII) and the Renminbi Qualified Foreign Institutional Investor(RQFII) programmes, the regulator said on its website. The comments came after official data showed that Chinese commercial banks sold a net $17.6 billion of foreign exchange in September, compared with a net sale of $14.9 billion in August. (Reporting by Beijing Monitoring Desk; Editing by Shri Navaratnam) … [Read more...] about Impact of Sino-U.S. trade row on China’s cross-border capital flows under control
Jack Ma returns to top of Forbes’ China rich list but not all were so lucky – 322 on last year’s list are now poorer
Alibaba founder Jack Ma is back at the top of Forbes’ China rich list in 2018. Reuters Alibaba founder Jack Ma has returned to the top spot of Forbes’ China rich list after a three year absence. His net worth of US$34.6 billion, while US$4 billion less than a year ago, saw him overtake the runner-up, Pony Ma and Hui Ka Yan, who fell from first to third place this year. Hui, who is China Evergrande’s chairman, was the biggest loser in dollar terms on the list. According to the magazine, Hui’s wealth fell by a staggering US$11.7 billion. At the same time, Tencent’s Ma also saw his wealth fall by US$6.2 billion. According to Forbes, credit and trade worries, tumbling stocks and a falling renminbi were all responsible for the diminished wealth of three quarters of the top 400 listees on last year’s list. A total of 322 people in 2017’s list were affected, with 93 completely dropping out of 2018’s list. Another 229 remained on the list but … [Read more...] about Jack Ma returns to top of Forbes’ China rich list but not all were so lucky – 322 on last year’s list are now poorer
Worried about iPhone eavesdroppers? China says Trump may need a Huawei
BEIJING - China's foreign ministry has some suggestions for the Trump administration if they are worried about foreign eavesdropping on the U.S. president's iPhone: Use a Huawei handset instead. Or just sever ties with the outside world completely. The riposte came after a New York Times report that Chinese and Russian spies often secretly listened in on President Donald Trump when he used his unsecure Apple cellphone to gossip with old friends. "Reading this report, I feel that today in the United States there really are some people who are doing their utmost to win best script at the Oscars," Chinese Foreign Ministry spokeswoman Hua Chunying told a news conference on Thursday. Such reports were "evidence that the New York Times makes fake news", she said, adding two suggestions that were apparently aimed at the Trump administration. "If they are really very worried about Apple phones being bugged, then they can change to using Huawei," she said, referring to China's biggest … [Read more...] about Worried about iPhone eavesdroppers? China says Trump may need a Huawei
China says ‘hard to understand’ U.S. skipping import fair
BEIJING (Reuters) - China finds it “hard to understand” why the United States is not sending senior government officials to a major import expo in Shanghai next month, the foreign ministry said on Thursday. FILE PHOTO: A U.S. flag is tweaked ahead of a news conference between U.S. Secretary of State John Kerry and Chinese Foreign Minister Wang Yi at the Ministry of Foreign Affairs in Beijing, China January 27, 2016. Jacquelyn Martin/Pool via REUTERS/FIle Photo The world’s two biggest economies are locked in an escalating tariff row, with President Donald Trump having railed against China for what he sees as intellectual property theft, entry barriers to U.S. business and a gaping U.S. trade deficit. Set to run from Nov. 5 to Nov. 10, the China International Import Expo will bring together thousands of foreign and Chinese companies, aiming to boost imports, allay foreign concern about China’s trade practices and show readiness to narrow trade gaps. But … [Read more...] about China says ‘hard to understand’ U.S. skipping import fair