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China condemns Britain for Taiwan Strait warship mission | Source: Reuters

Officers of the Indonesian Navy greet the crew of the visiting British Royal Navy ship HMS Richmond docked at Tanjung Priok harbour in Jakarta May 22, 2011.

China strongly condemned Britain for sailing a warship through the sensitive Taiwan Strait, saying it was behaviour that “harboured evil intentions” and that the Chinese military followed the vessel and warned it away. Relations between Beijing and London are already strained over a long list of issues, from trade to human rights.

Source: Reuters


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China to Form Two Rare Earth Giants to Strengthen Pricing Power | Source: BLOOMBERG

China is planning to create two rare earth mining giants in an effort to gain better pricing power in global markets. Beijing has been restructuring the industry for years, to maintain its dominance in the production of the strategic metals, of which it controls 70%, as the U.S. and Europe look to develop their own production and supply chains and diversify away from China.

Source: BLOOMBERG


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China infuses $18.6bn into banking system amid Evergrande crisis | Source: NS Banking

The People’s Bank of China (PBOC) has injected CNY120bn ($18.6bn) into the country’s banking system in an effort to keep the liquidity stable at the end of the quarter amid the ongoing Evergrande crisis. However, some analyst told that will not be sufficient to address the Evergrande crisis. Evergrande, which is a Chinese real estate developer, has a debt of more than $300bn. Last week, the company said that it could default on the debt, sending shockwaves across global markets.

Source: NS Banking


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China declares all crypto-currency transactions illegal | Source: BBC

China’s central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin. China is one of the world’s largest crypto-currency markets. Fluctuations there often impact the global price of crypto-currencies. The price of Bitcoin fell by more than $2,000 (£1,460) in the wake of the Chinese announcement. The Chinese crackdown has already hit the mining industry.

Source: BBC


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China blasts Taiwan’s bid to join CPTPP trade pact | Source: Asia Nikkei

China said it “strongly opposes” Taiwan’s bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a day after Taipei applied for membership in the 11-country trade bloc. Taiwan’s application to join the CPTPP is widely expected to irk Beijing, which views the democratically governed island as part of its territory and has not ruled out seizing it by force. Taiwan has been in close communication with Japan, which has played a critical role as leader in the trade pact after the U.S. withdrew from it in 2017.

Source: Asia Nikkei


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China to stop financing overseas coal power projects | Source: Argus

China has pledged to stop building overseas coal-fired power plants, potentially ending a major source of financing for the sector. Beijing will also step up support for green and low-carbon projects in other developing countries. China is a major backer of coal power projects in the global market. Indonesia was the single-largest recipient of China-backed coal-fired power projects, followed by Vietnam and India.

Source: Argus


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China goes on an intellectual property offensive | Source: Asia Nikkei

Foreign businesses in China are becoming key targets in a growing number of intellectual property lawsuits filed by Chinese companies. One of the key factors behind the swelling wave of IP litigations a growing amount of IP owned by Chinese businesses. An increased number of Chinese technology-oriented companies see IP protection as a key element of their business strategy. Many Chinese companies have world-beating 5G or AI technologies. Some analysts predicted a spike in Chinese lawsuits against foreign companies concerning these technologies.

Source: Asia Nikkei


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China leads in 6G patents | Source: Electronics Weekly

China is responsible for 40.3% of 6G patent filings, followed by the U.S. with 35.2%, by Japan with 9.9%, Europe with 8.9%, and South Korea with 4.2%, reports the Nikkei. The University of Electronic Science and Technology of China already launched the world’s first 6G satellite. 6G is  said to be more than 10 times faster than 5G.

Source: Electronics Weekly


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China Formally Applies to Join Asian Trade Deal That Donald Trump Abandoned | Source: Time

China has applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, originally envisioned by the U.S. as an economic bloc to counterbalance China’s growing power. The application is certain to spark a reaction from Washington, where a number of lawmakers had already expressed concern about China’s efforts to join.

Source: Time


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Russian, Vietnamese presidents discuss economic, energy cooperation | Source: TASS

Russian President Vladimir Putin and his Vietnamese counterpart Nguyen Xuan Phuc discussed a number of promising points of cooperation in the trade, economic and energy fields, , as well as the implementation of the agreement on free trade between member-states of the Eurasian Economic Union and Vietnam.

Source: TASS


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