Day: November 3, 2023

Chinese President Xi Jinping thinks the Communist Party’s control over rural areas is insufficient and threatens stability, according to a new book published on the mainland. “There are some urgent problems in the countryside that need to be solved, such as the fact that grass-roots organisations are still weak and lax in some places,” Xi told a seminar of the Chinese People’s Political Consultative Conference (CPPCC), China’s top political advisory body, in March last year. His comments were disclosed in detail in the book published in late October. In statements…

“Exports weakness is likely to continue to drag on China’s external sector for some time as other central banks keep restrictive monetary policy in place.” ‘Bumpy road’ ahead for China’s economy as manufacturing takes surprise dip “The Caixin manufacturing PMI declined under 50 in October, mirroring the change in the official manufacturing index. Taken together, the average of the two is consistent with a renewed deterioration in factory activity last month,” said Julian Evans-Pritchard and Sheana Yue, China economists at Capital Economics. 2. ‘A further loss of momentum’ China’s official…

At a meeting that brought together economic planners from eastern and southern China this week, Beijing asked for ideas – and greater efforts – to boost private investment and market confidence, as observers continue to stress that China’s market players need more substantial help in the sluggish economy. “Boosting the private economy requires systematic organisation, as it covers a broad range of industries and policies, and involves a lot of work. We need close coordination among all departments and all areas to form a strong workforce,” Cong Liang, deputy head…

In the latest evidence of a modest thaw in relations ahead of a meeting between Chinese leader Xi Jinping and US President Joe Biden this month in San Francisco, senior officials from the two countries met on Friday in Beijing to discuss the situation in the disputed South China and East China seas. According to a brief US State Department statement, Mark Lambert, the department’s China coordinator and deputy assistant secretary for China and Taiwan, and Hong Liang, China’s director general for boundary and ocean affairs, held “substantive, constructive and…

“The United States defence agreement with the Philippines is ironclad,” declared US President Joseph Biden amid rising tensions in the South China Sea. “Any attack on the Filipino aircraft, vessels or armed forces will invoke our mutual defence treaty with the Philippines.” Biden’s comments came after collisions between Philippine and Chinese vessels near the Second Thomas Shoal, a contested feature where a detachment of Filipino soldiers have been precariously stationed on a dilapidated vessel. While it was meant to project strength and reassure an Asian ally, Biden’s tough talk belies…

US President Joe Biden announced a new investment programme on Friday to channel “billions of dollars” to Latin American and Caribbean nations, as an alternative to China’s “debt trap” deals in the region. The US, Biden said, wanted to make sure those nations had “a real choice between debt-trap diplomacy and high-quality transparent approaches to infrastructure and to development”. While not naming China, Biden was seen as referring to the Belt and Road Initiative, Beijing’s global infrastructure programme which the US contends often saddles its partners with unexpected debt. The…