China to Increase U.S. Soybean Imports
China will significantly increase imports of U.S. soybeans after the Phase 1 trade deal is signed, the Global Times reported on Wednesday, citing comments from a senior Chinese economist at a state think tank.Wang Liaowei, senior economist at China National Grain and Oils Information Center that is under the National Food and Strategic Reserves Administration, also told the paper that imports of U.S. products such as pork and cotton could also see a jump following the signing of the trade deal. (Reporting by Se Young Lee and Stella Qiu; editing by Louise Heavens)
China to Launch Latest Type 055 Destroyer
The Nanchang, China's first Type 055 guided missile destroyer, will soon be put into commission in the People's Liberation Army Navy, a spokesperson said.China plans to have a fleet of 8 Type 055 destroyers, its most powerful naval vessel which was showcased during the People's Liberation Army (PLA) Navy’s 70th anniversary on Tuesday in Qingdao.Long expected by Chinese military enthusiasts, the Nanchang, China's first Type 055 destroyer, which is painted with the hull number 101…
China's LNG Imports Hit Record High
China's imports of liquefied natural gas (LNG) in November surged to a new record as the country briskly promotes the green fuel to clean its energy mix, said a report in Xinhua.In November, LNG imports totaled 5.99 million tons hitting a new record, rising 48.5 percent year-on-year, according to figures from the General Administration of Customs released over the weekend. The previous record was 5.18 million tons set in January this year, according to media reports.The report said that the country's appetite for natural gas has swelled rapidly in recent years…
China to Develop Multi Billion Dollar Deep Sea Port In Myanmar
China and Myanmar are moving ahead with a China-backed deep-sea port project in Kyauk Phyu Special Economic Zone (SEZ) , 250 miles northwest of Yangon.The framework agreement was signed by Myanmar's Deputy Minister of Planning and Finance and Chairperson of the Management Committee of the Kyaukphyu SEZ U Set Aung and President of CITIC Group Chang Zhenming, stated Chinese state media.This is the third port in India’s vicinity. China is also developing deepwater strategic Gwadar port in Pakistan in the Arabian Sea which faces the Mumbai coast.
Is China Shipbuilding Sinking into Tough Waves?
The world’s largest shipbuilding nation China is facing some tough years ahead as new-vessel orders weaken and order backlogs decline, Caixin reported quoting China Association of the National Shipbuilding Industry (CANSI). According to the industry association, in the first half of 2017, new orders received by Chinese shipbuilders plunged by 29 percent year-on-year in terms of total estimated freight volume for the new ships, the report said. The new orders are totaling 11.51 million deadweight tons. Deadweight tonnage is how much a ship can safely carry, not the weight of the ship itself.
China Launches New Class of Naval Destroyer
China's military on Wednesday launched a new type of domestically-built destroyer, state media said, the latest addition to the country's rapidly expanding navy. The 10,000-tonne warship was launched at the Jiangnan Shipyard in Shanghai, the official Xinhua news agency said, making it the first of the People's Liberation Army Navy's "new generation" destroyers. "It is equipped with new air defence, anti-missile, anti-ship and anti-submarine weapons," Xinhua said, without giving further details. The state-run Global Times newspaper said the ship was believed to be the first Type 055 destroyer, which is considered to be a successor class to the smaller Type 052D guided missile destroyers. China is still producing the latter and commissioned one, the Xining, in January.
N.Korea Fires Missiles Again, S.Korea Delays THAAD
Missiles flew about 200 km into sea off east coast - S.Korea; launch is fourth by Pyongyang in four weeks. North Korea fired what appeared to be several land-to-ship missiles off its east coast on Thursday, South Korea's military said, a day after the South postponed full deployment of a controversial U.S. anti-missile system designed to deter a North Korean attack. The launches, the latest in a fast-paced series of missile tests defying world pressure to rein in its weapons programme, come less than a week after the United Nations Security Council passed fresh sanctions on the reclusive state. South Korea on Wednesday said it will hold off on installing remaining components of the U.S.
China to Return Seized US Underwater Drone
China's Defense Ministry said on Saturday it plans to return an underwater U.S. drone seized this week by a Chinese naval vessel in the South China Sea, but complained the United States was "hyping up" the incident. The drone was taken on Thursday, the first seizure of its kind in recent memory. It prompted the Pentagon to go public with a diplomatic complaint, and drew criticism from U.S. President-elect Donald Trump, who has vowed to take a more aggressive approach in dealing with Beijing.
China Says Wants Peace after Paper Warns on South China Sea Clash
China's government sought to downplay fears of conflict in the South China Sea after an influential state-run newspaper said on Tuesday that Beijing should prepare for military confrontation. Editorials in the Global Times newspaper ahead of a July 12 international court ruling on competing claims in the South China Sea by China and the Philippines said the dispute had already been complicated by U.S. intervention. It faced further escalation due to the threat posed by The Hague-based tribunal to China's sovereignty, the paper said. "Washington has deployed two carrier battle groups around the South China Sea, and it wants to send a signal by flexing its muscles: As the biggest powerhouse in the region, it awaits China's obedience," the Global Times said.
China: U.S. Seeks "Hegemony" after South China Sea Sailing
China accused the United States on Monday of seeking maritime hegemony in the name of freedom of navigation after a U.S. Navy destroyer sailed within 12 nautical miles of a disputed island in the South China Sea. China claims most of the South China Sea, through which more than $5 trillion of world trade is shipped every year. Vietnam, Malaysia, Brunei, the Philippines and Taiwan have rival claims. The guided-missile destroyer USS Curtis Wilbur passed near Triton Island in the Paracel Islands, in what the Pentagon said was a challenge to attempts by China, Taiwan and Vietnam to restrict navigation rights and freedoms. The Chinese government, which moved swiftly to condemn to sailing on Saturday, said the United States was acting dangerously and irresponsibly.
Chinese Shipyard Orders Plunge
New ship orders at Chinese yards have fallen 68.3 percent to the end of August as tough conditions prevailed in the global shipping market, Global Times reported quoting data from the China Association of the National Shipbuilding Industry (CANSI). Accoring to experts said the discouraging figure will exacerbate the problems of the country’s struggling shipyards. CANSI said that due to the slack market, order backlogs and prices for new ships also fell. China’s shipbuilders completed 14.6 percent more ships by tonnage than a year earlier during the eight months…
India's Oil Exploration near South China Sea Irks China
The state-run China Daily says that India's plans to conduct oil exploration off Vietnam coast in the South China Sea is "illegal and is an "unwise move" that may "sabotage" positive momentum in ties. "India's intention to once again explore for oil in the disputed waters of the South China Sea is an unwise move, as it will further complicate the maritime disputes and do a disservice to maintaining the positive momentum that has been achieved in China-India ties," the China Daily said in an editorial.
Chinese Navy Conducts Drill in South China Sea
The Chinese navy has announced 10 days of military training in the waters near eastern Hainan Island in the South China Sea starting on Wednesday, amid heightened tensions in the region. Playing down the significance of the exercises, the Chinese military said the drills, started yesterday in the east of Hainan Province, are not directed against neighbours. "The drills are regular military exercises scheduled in the annual plan, without targeting any other country," the Ministry of National Defence said.
China Builds-up Naval Power
China has outlined a first ever "white paper" on military strategy that outlined a more robust posture for its blue-water navy, and warned of threats to its security from "still smouldering" boundary disputes over land. The paper comes a day after an editorial (link in Chinese) in the state-run Chinese tabloid Global Times said conflict between China and the US will be unavoidable if the Washington doesn’t lay off Beijing for building islands and military facilities in disputed parts of the South China Sea.
Pakistan to Buy Eight Submarines from China
Pakistan is close to signing a $4 to $5 billion deal to buy eight submarines from China, the Financial Times said on Thursday, in what it added would likely be China's largest overseas arms sale. The Pakistan Navy says Islamabad has given the green light to the military's plan to purchase eight conventional submarines from China, reports Huanqiu, the Chinese-language website of China's nationalistic tabloid Global Times. Pakistan has been negotiating the submarine purchase with China since 2011, with initial plans to purchase six, and subsequently raising the number to eight.
China Defies U.S. Plea for Restraint in South China Sea
China on Monday hit back at "irresponsible remarks" from the United States which has called on Beijing to stop a land reclamation project in the disputed South China Sea that could be large enough to accommodate an airstrip. China lays claim to almost all of the entire South China Sea, believed to be rich with minerals and oil-and-gas deposits and one of Asia's biggest possible flashpoints. Brunei, Malaysia, the Philippines, Vietnam and Taiwan also have claims. The comments by China's foreign ministry signal that Beijing would firmly reject proposals by any country to freeze any activity that may raise tension. Media reports over the weekend cited U.S.
China Sending 4 Rigs To S China Sea Amid Tensions
China is sending four oil rigs into the South China Sea in a sign that Beijing its stepping up its exploration for oil and gas in the tense region, less than two months after it positioned a giant drilling platform in waters claimed by Vietnam. Coordinates posted on the website of China's Maritime Safety Administration showed the Nanhai number 2 and 5 rigs would be deployed roughly between southern China and the Pratas islands, which are occupied by Taiwan. The Nanhai 4 rig would be towed close to the Chinese coast.
U.S. Investigates Chinese Rig Move, Vietnam Complaints
The United States said on Tuesday it was investigating the movement of a huge Chinese oil rig that Vietnam says has entered its waters, the latest show of Beijing's growing assertiveness to raise alarm among smaller countries in the region. The Vietnamese accusation came days after U.S. President Barack Obama visited Asia to underline his commitment to allies there, including Japan and the Philippines who are themselves locked in territorial disputes with China. Obama, promoting a strategic "pivot" toward the Asia-Pacific region, also visited South Korea and Malaysia, but not China. Vietnam has condemned the operation of the deepwater drilling rig in what it says are its waters in the South China Sea and told China's state-run oil company to remove it.
China's civilian fleet a potent force in Asia's disputed seas
From harassing Filipino fishing boats and monitoring oil exploration off Vietnam to playing cat-and-mouse with the Japanese coastguard, China's expanding fleet of civilian patrol vessels have become the enforcers in disputed Asian waters. The ships of the recently unified Chinese coastguard are a fixture around the disputed islands and shoals of the South and East China Seas. While the ships don't have the weaponry of military vessels, thus reducing the risk a confrontation could get out of control, they still represent a potent show of sovereignty. The coastguard is funded by China's State Oceanic Administration, a civilian body, although one U.S. naval officer and security experts said it coordinates its operations with the People's Liberation Army (PLA).
China's Civilian Fleet a Potent Force in Disputed Seas
From harassing Filipino fishing boats and monitoring oil exploration off Vietnam to playing cat-and-mouse with the Japanese coastguard, China's expanding fleet of civilian patrol vessels have become the enforcers in disputed Asian waters. The ships of the recently unified Chinese coastguard are a fixture around the disputed islands and shoals of the South and East China Seas. While the ships don't have the weaponry of military vessels, thus reducing the risk a confrontation could get out of control, they still represent a potent show of sovereignty.
China Shipbuilder Seeks Bankruptcy Protection
"The company filed for bankruptcy in mid-June as it is unable to meet its debt obligations of over 300 million yuan ($47.1 million)," Yu Shengyue, director of No. 2 Civil Tribunal of the People's Court of Wenling county where the company is based, informed 'Global Times', . The major creditors include the local branches of Construction Bank of China, Agricultural Bank of China, Bank of China and Zhejiang Materials Industry Group Corp, a State-owned logistics company, according to Yu. "The debtor and the creditors are considering reorganization, because the shipbuilding industry is not in good shape and the outlook is not optimistic, either. The company still has a ship order to be delivered," he said.
China to Step Up Shipbuilding
According to a report from the Global Times, China’s shipbuilding industry is large but not strong, and independent innovation and establishing an integrated industrial chain are top priorities. Although China is the world’s largest shipbuilder in terms of capacity and new orders, its high value-added shipbuilding ability is far behind South Korea and Japan. (Source: The Wall Street Journal)