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Eurasia

China strongly opposes unilateral US sanctions on Russia | Source: TASS

The Chinese authorities strongly oppose the unilateral sanctions that the United States imposes on Russia. Last week, the US House of Representatives passed a defense policy bill that suggests the Biden administration consider the possibility of sanctioning 35 Russian nationals, including members of the government. Another initiative bans Americans from purchasing Russia’s newly issued government bonds.

Source: TASS


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Asia Pacific

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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Eurasia

Russia and France to work to stabilize situation in Nagorno-Karabakh | Source: Arka News Agency

Russia will work with France for the stabilization of the situation in Nagorno-Karabakh to stabilize the South Caucasus for the sake of regional development. It implies the resumption of dialogue between Armenia and Azerbaijan under the auspices of the Minsk Group co-chairs. On September 27, 2020, Azerbaijani armed forces, backed by Turkey and foreign mercenaries and terrorists, attacked Nagorno-Karabakh along the entire front line.

Source: Arka News Agency


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Middle East

Russia wants to hold high-level meeting on Syria with US, Israel | Source: Yeni Safak

Russia asked Israel to encourage the US to accept high-level trilateral talks on Syria. Israeli officials expressed their support for the trilateral summit. Israel’s main goal is to get Iran out of Syria, and that this can only be possible with Russia-US cooperation.

Source: Yeni Safak


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Asia Pacific

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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Africa

Chinese banks to open in Nigeria | Source: People´s Gazette

The Chinese Ambassador to Nigeria is in talks with Chinese-owned banks to establish operations in Nigeria. It would also be a point of discussion during the China-Nigeria Binational Committee meeting. The trade volume between China and Nigeria is nearly $20 billion, increasing from 2020’s $19.2 billion.

Source: People´s Gazette


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Asia Pacific

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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