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China denounces US-UK-Australia pact as irresponsible | Source: BBC

China has denounced a historic security pact between the US, UK and Australia, describing the alliance as “extremely irresponsible” and “narrow minded”. The pact, announced on Wednesday, will see the US and UK provide Australia with the technology to build nuclear-powered submarines for the first time. It is being widely viewed as an effort to counter China’s influence in the contested South China Sea.

Source: BBC


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China shows off defence diplomacy with multinational peacekeeping drill | Source: Reuters

China’s armed forces concluded their first multinational peacekeeping exercise, showing off their combat prowess with drones and mine-clearing robots while seeking to project a more benign image. About 1,000 troops from China, Pakistan, Mongolia and Thailand participated in the 10-day exercise at a People’s Liberation Army training base in Queshan county in the central province of Henan, though most of the soldiers appeared to be Chinese. Asian giant is modernizing its military by pumping hundreds of billions of dollars annually into its defence budget.

Source: Reuters


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China calls on US to ‘stop official exchanges’ with Taiwan | Source: Anadolu Agency

China called on the US to “stop all official exchanges” with Taiwan amid reports that the US was “seriously considering” to rename Taiwan’s office in Washington. Beijing claims the island nation of Taiwan as a “breakaway province,” while Taipei insists it has been independent since 1949.

Source: Anadolu Agency


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China Opens Rail Line, Trade Route to Indian Ocean Through Myanmar | Source: VOA NEWS

China inaugurated a new trade route via ship, road and rail running through Myanmar in keeping with Beijing’s dogged building spree across the Southeast Asian country to reach the Indian Ocean and points west. Analysts say it is one more strand in the ever-expanding web of transportation channels pulling China and Southeast Asia closer under the banner of Beijing’s sprawling Belt and Road Initiative while boosting China’s sway across the region.

Source: VOA NEWS


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China lobbies Australian parliament on joining regional trade pact | Source: NRZ

Australian Treasurer Josh Frydenberg, left, and Prime Minister Scott Morrison.

China has lobbied the Australian parliament to help it join a major regional trading pact, describing the strength of Chinese trade with Australia and avoiding mention of billions of dollars in punitive sanctions imposed by Beijing. The Chinese embassy’s suggestion came in the same week that Australian Treasurer said Australia must diversify its economy to rely less on China, its largest trading partner.

Source: NRZ


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China says US warship ‘trespassed’ into its territorial waters | Source: Anadolu Agency

China claimed a US guided-missile destroyer “trespassed” into its waters in the disputed South China Sea. The South China Sea is claimed by China and several other regional countries, and the continuing US naval operations in the Taiwan Strait, part of the disputed sea, have angered China. Beijing has refused to acknowledge the presence of the US in the region, dismissing it as “interference by an outsider.”

Source: Anadolu Agency


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China successfully launches new Earth observation satellite | Source: Financial Express

China has successfully launched a new satellite into space to improve the country’s hyperspectral observation capacity of the atmosphere, water and land. The satellite and carrier rocket were developed by the Shanghai Academy of Spaceflight Technology under the China Aerospace Science and Technology Corporation. It was the 387th flight mission of the Long March carrier rocket series.

Source: Financial Express


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China to expand Shenzhen’s Qianhai zone, eyeing Hong Kong | Source: Strait Times

China announced an expansion of the Qianhai economic cooperation zone in Shenzhen. The expansion is part of a plan to further integrate Hong Kong and Macau’s economies into the Greater Bay Area, which includes Guangzhou, Shenzhen and other Pearl River Delta cities. The plan, which was shy on details, calls for the zone to further open up the financial sector and liberalise the service trade, , allowing cross-border use of the renminbi, and offering more convenient foreign exchange management.

Source: Strait Times


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China aspires for a pioneering digital economy in the world

Article from: CGTN

China aspires for a pioneering digital economy in the world

3 SEPTEMBER 2021

The China International Fair for Trade in Services (CIFTIS) is being held from September 2nd to September 7th in Beijing, China, September 2, 2021.

The 2021 China International Fair for Trade in Services (CIFTIS) opened in Beijing on September 2nd and will run until September 7th. Over 10,000 enterprises from over 150 countries and regions are participating in a mix of online and offline formats.

CIFTIS is one of the largest economic events since the start of last year’s COVID-19 pandemic and the only fair that comprehensively covers the 12 sectors of trade and services as defined by the World Trade Organization. This year’s CIFTIS aims to revitalize globalization by promoting the digital economy as its primary engine.

Chinese President Xi Jinping proved how important this fair is by taking time out of his busy schedule to address its attendees by video briefly. Although it was only for a few minutes, it contained a wealth of important information directly relevant to the conference’s theme of a digital future and service-driven development.

The Chinese leader’s most headline-grabbing announcement pertained to his country’s plans to open up a new Beijing Stock Exchange to assist innovation-driven small- and medium-sized enterprises (SMEs).

President Xi highlighted the crucial role that such companies will play in continuing his country’s trend of opening up. Some of them will likely participate in the digital trade pilot zones that he announced will also be set up across the country.

Speaking of China’s nationwide focus on the digital economy, the state also plans to align domestic rules with those followed by high-standard international free trade agreements. All of this will accelerate China’s process of opening up and complement its dual circulation new development paradigm.

That strategy will greatly be aided by prioritizing the cross-border services trade across the country in parallel with scaling up support for the service sector in the Belt and Road Initiative (BRI) countries. The long-term vision articulated by President Xi is one where China becomes the leader of the world’s digital economy.

It already has the second-largest one outside of the U.S., but its potential is much more promising since it’s been gradually reforming its policies while America has been moving in the opposite direction since the trade war.

The China International Fair for Trade in Services (CIFTIS) is being held from September 2nd to September 7th in Beijing, China.

China has rightly been regarded as “the world’s factory” due to the crucial role that it played in the Third Industrial Revolution, but it nowadays aspires to play an equally pivotal one in the emerging Fourth Industrial Revolution (4IR). Also known as Industry 4.0, it involves the cutting-edge interconnected technologies of the Internet of Things (IoT), artificial intelligence (AI), big data, and robotics, among others. Many existing industries are also migrating to the digital space in order to protect people’s health.

The 4IR’s most basic infrastructure consists of (ideally green) power plants, 5G technology, supercomputers, information-communication technology (ICT) gadgets, and online applications. China is among the world leaders in each of these industries. It also has a larger market than any other country, which is extremely attractive for foreign service providers.

These economic characteristics complement its new development paradigm of dual circulation and make it the natural place to host the world’s leading trade in services fair.

CIFTIS’s significance will surely grow in the post-pandemic world as more companies and countries embrace the digital economy. It’s only a matter of time before it becomes one of the world’s most eagerly awaited yearly events. China’s global BRI network enables it to connect everyone else together much more closely and effectively than any other country is capable of doing, including digitally. This will help its many Global South partners with their much-needed development.

Those who proclaimed the death of globalization at the onset of last year’s pandemic have been proven wrong by CIFTIS. President Xi is certain that globalization will continue, albeit in a different form, as everything becomes more digital.

China is at the center of these 4IR-connected processes that are of importance for the entire global economy. The country is aware of its pioneering economic responsibilities to the international community, which is why it’s hosting CIFTIS in order to facilitate their growing trade in services.

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By Andrew Korybko

American political analyst

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China deploys the world’s largest 5G network, rolling out 993,000 stations | Source: Global Times

A coffee-brewing robot is displayed at the venue of 2021 World 5G Convention in Beijing, capital of China, Aug. 31, 2021. 

China has deployed the world’s largest and most active 5G mobile network in the world, with more than 392 million mobile phones being connected to 5G gear. The country’s 5G sector has integrated well with other sectors such as big data and artificial intelligence, to generate new business models to help transform traditional industries like healthcare, industrial internet and super high definition videos. China is facing pressure from some countries, led by the US, to thwart the country’s high-tech rise. In particular, the US and some of its allies have placed bans on Huawei’s 5G and ZTE under the pretense of national security.

Source: Global Times


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