Xi Jinping News

19 Jun 2019

World Bank: China's BRI Needs Transparency

©By Maxim Pavlov/Adobe Stock

China's global Belt and Road Initiative (BRI) could boost economies and reduce poverty rates in dozens of developing countries, but it must be accompanied by increased transparency, said World Bank.A new World Bank Group study on the BRI transportation corridors said that improvement in risks environmental damage, debt and corruption should be made.BRI is an ambitious programme to connect Asia with Africa and Europe via land and maritime networks along six corridors with the aim of improving regional integration…

28 Apr 2019

China to Launch Latest Type 055 Destroyer

Pic: Official Chinese media Xinhua

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…

28 Apr 2019

Serbia Ensures 'Good Passage' in China

Pic: Ministry of Foreign Affairs, the People's Republic of China

China and Serbia signed deals under the Belt and Road Initiative, as both sides vowed to level up cooperation under the China-proposed mega-project initiative.The deals were sealed as part of the Belt and Road Initiative following a meeting between Chinese President Xi Jinping and his Serbian counterpart Aleksandar Vucic in Beijing.Vucic said that his country ensured “a good passage” in China at the ‘Belt and Road Initiative’ forum in Beijing.The Belt and Road Initiative (BRI)…

25 Mar 2019

CMA CGM Orders 10 Boxships from China

file Image: CREDIT CMA CGM

CMA CGM chairman and CEO Rodolphe Saadé has signed two strategic partnerships with Lei Fanpei, chairman of the China State Shipbuilding Corporation (CSSC), including an order of 10 containership newbuilds, as well as an agreement to jointly develop more efficient and environmentally-friendly vessels.The deals were signed Monday in the presence of French President Emmanuel Macron and Chinese President Xi Jinping, on the occasion of the latter’s State visit to France.The 10 new Chinese-built 15,000-TEU (Twenty-foot Equivalent Units) vessels will each measure 366 meters long.

13 Feb 2019

Mnuchin: China Talks "So far, so good"

© windy Li/AdobeStock

U.S. Treasury Secretary Steven Mnuchin said talks with China went well on Wednesday, as the world's two largest economies try to iron out an agreement to resolve their trade dispute."So far, so good," he said when asked by reporters on how the meetings in Beijing went. He did not say who he met.Mnuchin said earlier he hoped for "productive" trade meetings as the two countries seek to end a festering dispute that has seen both sides level tariffs at one other.U.S. tariffs on $200…

23 Jan 2019

Offshore Upswing: CNOOC Spend Highest Since 2014

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China's state-owned offshore oil and gas producer CNOOC Ltd said it is confident of achieving its spending target this year, the highest since 2014, as its responds to a call to build up the nation's petroleum output and reserves.The company plans to spend 70 billion to 80 billion yuan ($10.3 billion to $11.8 billion) on exploration and production, CNOOC said in a press release on Wednesday, compared with an expected 63 billion yuan in capital spending for 2018.Beijing has called…

13 Dec 2018

Hispano-Chinese MoU for Ports

Pic: Autoridad Portuaria de la Bahía de Algeciras

The Port of Algeciras Authority (APBA) Chairman, Manuel Moron, and the Ningbo Zhoushan Port Group Chairman, Mao Jianhong, signed a Memorandum of Understanding (MoU) that is set to formalize co-operation between both of the logistics powerhouses and increase commercial flow between Southern Europe and Asia. According to the port and harbour of Algeciras, the MoU was rubber-stamped during the official state visit to Spain of the Chinese President,  Xi Jinping, who - together with the Spanish Prime Minister…

20 Jul 2018

UAE's Adnoc Awards USD 1.6bln Contract to China’s CNPC

Image: ADNOC

The Abu Dhabi National Oil Company (ADNOC) has awarded contracts worth AED 5.88bn (US $1.6bn) for the world’s largest continuous 3D onshore and offshore seismic survey, covering an area up to 53,000 square kilometres, as the company continues to identify and unlock new opportunities and maximize value from its hydrocarbon resources and deliver on its 2030 smart growth strategy.Adding to the 2D and 3D seismic data already acquired across Abu Dhabi, the new seismic survey will cover an area of up to 30…

08 May 2018

China'a April Exports Stronger than Expected

© anekoho / Adobe Stock

China's exports rebounded more strongly than expected in April after a surprise drop the previous month, suggesting global demand remains relatively resilient and providing a cushion to the economy amid a heated trade dispute with the United States.Imports in April also grew more robustly than anticipated, signalling China's domestic demand is holding up well, good news for policymakers looking to soften the blow from any trade shocks.China's April exports rose 12.9 percent from a year earlier…

06 May 2018

China Pushes for Yangtze River Economic Belt

Chinese President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, speaks at a symposium on promoting the development of the Yangtze River economic belt in Wuhan, capital of central China's Hubei Province. Photo: Ministry of Ecology and Environment, Xinhua

Chinese President Xi Jinping called for achieving high-quality economic growth through developing the Yangtze River economic belt. Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, made the remarks at a symposium on promoting the development of the Yangtze River economic belt in Wuhan, capital of central China's Hubei Province. He stressed the importance of enhancing reform and innovation, strategic coordination as well as planning and guiding in developing the economic belt.

23 Apr 2018

China's First Home-built Carrier to Start Sea Trials

China first domestically developed aircraft carrier looks set to begin sea trials after pictures appeared on the Chinese internet on Monday of it leaving its dock in the northeastern port of Dalian. The still-unnamed carrier was launched this time last year but since then has been undergoing fitting of weapons and other systems and has not yet entered service. Chinese President Xi Jinping is overseeing an ambitious military modernisation scheme, including stealth jets and anti-satellite missiles, as China ramps up its presence in the disputed South China Sea and around self-ruled Taiwan, an island it considers its own. Online Chinese news portals…

16 Apr 2018

China to Set up Hainan Free Trade Zone by 2020, Port by 2025

© alextan8 / Adobe Stock

China aims to establish a free trade zone in Hainan by 2020 and will encourage multinationals to set up their international and regional headquarters in the province, state news agency Xinhua reported citing a government document. The guidance was jointly issued by the ruling Communist Party and State Council, Xinhua said. It comes after President Xi Jinping announced on Friday that the country would grant foreign firms greater economic freedom in the southernmost province. Known for its sandy beaches and resort-lined coast…

16 Apr 2018

Japan, China Agree Trade War Will Harm Global Economy

© xy / Adobe Stock

Japan and China agree that a trade war will have serious consequences for the world economy, Japanese Foreign Minister Taro Kono said on Monday after a high-level economic dialogue between the world's third- and second-largest economies. Concern is growing about a trade row between China and the United States in which the two nations have threatened each other with tariffs. Japan has been criticised by U.S. President Donald Trump on trade and been hit with tariffs on steel and aluminum, but it has not yet threatened counter-tariffs.

09 Apr 2018

Philippines Eyes Exploration Deal with China in S.China Sea

© Regormark / Adobe Stock

The Philippines is looking to seal a pact with China within a few months to jointly explore for oil and gas in a part of the busy South China Sea waterway claimed by both countries, a Philippine official said on Monday. In February, the two countries agreed to set up a special panel to work out how to jointly explore for offshore oil and gas in areas both sides claim, without needing to address the touchy issue of sovereignty. "We're trying to see if we can achieve an agreement…

03 Apr 2018

UN Sanctions North Korean Ship for Illegal STS Oil Transfer

File Image (CREDIT: AdobeStock / (c) Leonid Shtandel)

The United Nations has blacklisted a North Korean ship for receiving oil in an October transfer that breached U.N. sanctions, as first revealed by Reuters. Reuters in December reported that Russian tankers had supplied fuel to North Korea, which relies on imported fuel to keep its struggling economy functioning, by transferring cargoes at sea. European security sources told Reuters that a Russian vessel conducted a ship-to-ship transfer with the North Korean-flagged Sam Ma 2 tanker in open seas during October.

02 Apr 2018

UN Blacklists Dozens over North Korean Smuggling at Sea

© Igor Groshev /Adobe Stock

The United Nations Security Council blacklisted dozens of ships and shipping companies on Friday over oil and coal smuggling by North Korea, boosting pressure on Pyongyang as leader Kim Jong Un plans to meet with his South Korean and U.S. counterparts. The council's North Korea sanctions committee acted on a request by the United States, designating 21 shipping companies -- including five based in China -- 15 North Korean ships, 12 non-North Korean ships and a Taiwanese man. The…

20 Mar 2018

China Building Its First Polar Expedition Cruise Ship

© Incredible Arctic / Adobe Stock

China has begun building its first polar expedition cruise ship, state news agency Xinhua reported Saturday, as the country looks to shipping lanes opened up by global warming to extend President Xi Jinping's Belt and Road initiative to the Arctic. Construction of the 104.4-meter vessel, equipped with an advanced electric propulsion and control system for navigating sea ice, was expected to be completed by August 2019, Xinhua reported. China released its first official Arctic policy white paper in January…

16 Mar 2018

Hong Kong's Richest Man Li Ka-shing Retires

File Image: A Hong Kong Container Terminal. (CREDIT: AdobeStock / (c) Marco 2811)

Li Ka-shing to retire after annual general meeting on May 10; will stay on as senior adviser to the group. Hong Kong's richest man, Li Ka-shing, announced his retirement as chairman of CK Hutchison Holdings Ltd on Friday, bringing to a close a rags-to-riches story that made him a hero in the freewheeling capitalist hub. Li, 89, will retire after the annual general meeting on May 10, the ports-to-telecoms conglomerate said in a filing to the Hong Kong bourse, passing the mantle to his eldest son Victor Li, who was named successor several years ago.

02 Feb 2018

Brazil Drops 'Railway to the Pacific' Plan

File Image (CREDIT: AdobeStock / (c) Carolyn Franks)

Brazil has shelved a planned railway to ship commodities destined for China through Peru as it was too costly and faced "absurd" engineering challenges, a Brazilian official said. The 5,000-km (3,300-mile) railway over the Andes to the Pacific coast, announced during a visit by President Xi Jinping in 2014, was meant to speed up soybean and iron ore exports to China at a lower cost by bypassing the Panama Canal. But at an estimated cost of $80 billion, the railway would not be commercially viable if it transported just commodities and not more valuable goods…

28 Dec 2017

Trump Troubled About Oil Flow into North Korea

© luzitanija/Adobe Stock

U.S. President Donald Trump on Thursday said he was "very disappointed that China is allowing oil to go into North Korea" and that such moves would prevent "a friendly solution" to the crisis over Pyongyang's nuclear program. "Caught RED HANDED - very disappointed that China is allowing oil to go into North Korea. There will never be a friendly solution to the North Korea problem if this continues to happen!" Trump wrote in a post on Twitter. China earlier on Thursday said there had been no U.N.

03 Nov 2017

China Hopes U.S. Can Help Ease S.China Sea Tension

China hopes the United States can "help and not cause problems" in the disputed South China Sea, a senior Chinese diplomat said on Friday ahead of next week's visit to Beijing by President Donald Trump. The United States has criticised China's construction of islands and build-up of military facilities in the sea, and is concerned they could be used to restrict free nautical movement. U.S. Navy ships have also carried out freedom of navigation patrols in the area, angering China. Speaking to reporters about Trump's trip, Chinese Vice Foreign Minister Zheng Zeguang said China has indisputable sovereignty over islands and surrounding waters in the South China Sea.

15 Sep 2017

Hong Kong Looks to Ride Out Boxship Turmoil

File Image: A view of busy Hong Kong Harbor (CREDIT: Joseph Keefe)

Hong Kong's port expects a slight rise in container shipping volumes this year despite continuing global turmoil in the sector. The global container industry, which transports everything from bananas to iPhones, is showing signs of better returns after a near-decade long slump. Nevertheless, worries over global retail demand and too many ships have continued to put the brakes on a bigger recovery. Hong Kong's Secretary for Transport and Housing, Frank Chan Fan, said container…

25 May 2017

U.S. Warship Challenges Beijing in South China Sea

The USS Dewey underway in the South China Sea (CREDIT: PO3 Kryzentia Weiermann)

A U.S. Navy warship sailed within 12 nautical miles of an artificial island built up by China in the South China Sea, U.S. officials said on Wednesday, the first such challenge to Beijing in the strategic waterway since U.S. President Donald Trump took office. The officials, speaking on condition of anonymity, said the USS Dewey traveled close to the Mischief Reef in the Spratly Islands, among a string of islets, reefs and shoals over which China has territorial disputes with its neighbors. China said its warships had warned the U.S.

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