22/09/2019
- Military experts say PLA modernisation brought about during Xi Jinping’s presidency will be the main focus of October 1 celebration in Beijing
- It’s necessary for China to ‘show some of its muscle’ amid the trade dispute with the US, observer says
China’s land-based DF-41 intercontinental ballistic missile will be among the military hardware on show on October 1. Photo: Reuters
China plans to show off its most advanced active weapon systems at the upcoming National Day parade, which will be the biggest of the 14 such events it has held over the past seven decades.
The parade, to be held on October 1 to mark the 70th anniversary of the founding of the People’s Republic, will highlight the military modernisation – particularly in nuclear deterrence – that has taken place since President Xi Jinping came to power in late 2012, according to military experts.
The People’s Liberation Army (PLA) offered a glimpse of those weapons during rehearsals for the parade in downtown Beijing from September 14.
As part of the celebrations, Xi, who also chairs the Central Military Commission, will inspect 48 squads on the ground and more than a dozen airborne squadrons, according to a military insider involved in support services for the parade.
More than a dozen airborne squadrons will take part in the National Day parade. Photo: Kyodo
The squadrons will include the air force’s first stealth fighter, the J-20; the main active warplanes such as the J-10 and J-11B; and armed helicopters like the Z-20. However, the J-8 fighter jet would not appear this year, the source said, confirming that the first interceptor built in China has been formally retired.
“The ground march will be led by several hero forces from the five theatre commands, which is different from previous squads selected from the ground forces, air force and navy,” said the insider, who requested anonymity because of the sensitivity of the matter.
“The main goal of this year’s parade is to promote the military modernisation of the PLA under President Xi’s leadership over the past seven years, with the military overhaul being one of the key achievements.”
Thirty-three of the 48 squads would be “weapon squads”, while the 13 others would be made up of infantry troops from the five theatre commands, the source said.
National Day fireworks in Hong Kong cancelled over safety fears
As part of the PLA’s sweeping military reforms, the army’s previous seven military commands were reshaped into five theatre commands, while the four former general headquarters were dissolved and replaced by 15 small functional departments.
In September 2015, Xi announced the PLA would shed 300,000 troops, cutting its size to 2 million, a move aimed at turning the PLA into a more nimble and combat-ready fighting force on a par with international standards.
Xi also split the former Second Artillery Corps into the Rocket Force and the Strategic Support Force, with the latter backing up the military’s electronic warfare units in cyberspace and outer space.
Among the 33 weapon squads, the highlights are expected to be the PLA’s strategic nuclear missiles such as the Rocket Force’s land-based DF-41 intercontinental ballistic missile (ICBM), the DF-21D anti-ship ballistic missile, the DF-17 hypersonic missile and the sea-launched JL-2, or Big Wave-2.
Adam Ni, a researcher at Macquarie University in Australia, said that showing off different types of missiles on land and sea indicated that the PLA was improving its nuclear deterrence capabilities by perfecting a three-pronged military force structure, or the so-called nuclear triad.
The DF-17 hypersonic ballistic missile will be one of the highlights of the parade. Photo: AP
The DF-41 is capable of carrying multiple warheads and many decoys, making it harder to detect than silo-based systems and better able to survive a first strike.
Ni said the DF-41 was China’s next-generation cutting-edge weapon.
“It’s actually an advanced ICBM and has a range to hit practically anywhere in the world, including the continental United States,” Ni said.
“The DF-41 is the ultimate symbol of the destructive potential of Chinese armed forces, just as nuclear weapons are similar symbols of the US and Russia.”
The JL-2 – which has a shorter range of 7,000km (4,350 miles) and can be launched by the PLA Navy’s Type 094 submarines – is unable to hit anywhere on the American continent when launched from submarines in the South China Sea and coastal areas of China.
China tests new warships in live-fire drills near Vietnam
However, China is developing the JL-3, which has a range of about 9,000km; the upgraded version of the JL-2, with a flight test conducted in June, though it is still less than the 12,000km range of the American Trident II.
“China is stepping up its military modernisation, which includes a number of aspects; the land-based aspect is introducing more mobile and survivable missile systems,” Ni said.
“The game change will happen when China is able to hit the whole US continent with its missile submarines in Chinese coastal waters.”
In military terms, survivable refers to the ability to remain mission capable after a single engagement.
The DF-17 is a land-to-land short-range strategic missile capable of delivering both nuclear and conventional payloads. The US intelligence community has estimated that it will reach initial operational capability by 2020. But if the missile is displayed in the parade, that means it is active already.
China conducted two tests of the DF-17 in November 2017, with the first launched from the Jiuquan Space Launch Centre in Inner Mongolia.
An insider said the main goal of this year’s parade is to promote the military modernisation of the PLA. Photo: Reuters
Hong Kong-based military commentator Song Zhongping said the nuclear weapons that would go on show in the parade would all be strategic missiles designed to improve China’s deterrent capabilities.
The show comes after the PLA delivered a national defence white paper in July stressing its goal to “maintain national strategic security by deterring other countries from using or threatening to use nuclear weapons against China”.
Unlike in the past, this year’s report stated that the US and China were now competing superpowers, and that the PLA’s growing forces were developing to the point that they could challenge the US.
Zhou Chenming, a Beijing-based military observer, said it was also necessary for the PLA to “show some of its muscle” amid the ongoing trade dispute between Beijing and Washington.
“To prevent misunderstanding, most of the weapons are just strategic equipment, not tactical arms, because Beijing still doesn’t want to irritate Washington,” he said.
About 280,000 people were involved in the rehearsals for the parade and related support services, according to Xinhua.
Source: SCMP
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21/09/2019
BEIJING, Sept. 21 (Xinhua) — A total of 73 popular domestic scenic spots have joined a campaign to collect garbage as China marked the World Cleanup Day Saturday.
Stalls will be set up in these scenic spots to encourage tourists to pick up garbage, take them away and sort them.
Spearheaded by China’s largest online travel agency Ctrip and charity program Pickup China, the campaign will last through the National Day holiday and is expected to attract about 1 million travelers and reduce 1,000 tonnes of tourism-related waste.
A mobile game was also launched on Ctrip’s app to raise awareness of trash collection and sorting among its users.
Sustainability will contribute to improved travel experiences and the sector’s development, said Fang Hongfeng, general manager of the activities business unit at Ctrip, adding that they are willing to seek broader cooperation with scenic areas in this field.
The World Cleanup Day, which falls on Sept. 21 each year, is a global social action program designed to address the global solid waste problem.
Source: Xinhua
Posted in Beijing, campaign, charity program, China's scenic spots, collect garbage, Ctrip's app, domestic, garbage pickup, global solid waste problem, join, Mark, Mobile game, National Day holiday, online travel agency Ctrip, Pickup China, popular, scenic spots, Spearheaded, Stalls, Sustainability, tourism-related waste, tourists, travelers, Uncategorized, World Cleanup Day |
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21/09/2019
UNITED NATIONS, Sept. 20 (Xinhua) — United Nations Secretary-General Antonio Guterres Friday hailed China’s efforts in implementing the Paris Agreement commitments ahead of time.
“It’s good to note that because the majority (of the countries) are not on time,” he said while addressing reporters at a working luncheon on climate.
“They are ready to announce very meaningful developments in renewables and in other aspects,” he told reporters from world-renowned media outlets, including Xinhua.
“At the same time, they are already having a slowdown in increasing their coal-based electricity production,” said the secretary-general.
The secretary-general vowed that he will push as much as he can for “a very strong and committed climate action.”
However, he also said some top-rated companies are taking climate risks into account in the formulation of policies.
“If you look at the European elections one year ago, it would be essentially on migration. The last European parliament elections were much more centered on climate,” he noted while explaining the climate is becoming more of an electoral issue than in the past.
He expressed hope that “a meaningful number of countries will announce important decisions in relation to emissions and to other aspects” at the forthcoming Climate Action Summit to be held on Monday.
“The next few years are absolutely crucial to reverse the present trend. That is still a negative trend. Emissions are still growing. The situation is getting worse clearly on the ground,” said the secretary-general.
Heads of state and government, high-level representatives from member states and representatives from the private sector will attend the Climate Action Summit to tackle “the defining issue of our time.”
The Climate Action Summit will be preceded by a Youth Climate Summit on Saturday, where participants from across the globe will showcase their solutions on how to combat the crisis.
Source: Xinhua
Posted in Antonio Guterres, climate, Climate Action Summit, coal-based electricity production, combat, crisis, emissions, European elections, European parliament elections, migration, Paris Agreement, renewables, solutions, Uncategorized, United Nations Secretary-General, Youth Climate Summit |
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21/09/2019
BAKU, Sept. 21 (Xinhua) — China and Azerbaijan enjoy promising prospects in co-building the Belt and Road, Chinese Ambassador to Azerbaijan Guo Min said in a recent exclusive interview with Xinhua.
With a sound and steady development of bilateral relations, Guo praised the advantages of the China-proposed Belt and Road Initiative (BRI) for both sides, emphasizing Azerbaijan’s full support for and involvement in the construction of the Belt and Road.
She said Azerbaijan sees the development of relationship with China as a diplomatic priority. “China and Azerbaijan have exchanged frequent high-level visits since the beginning of this year, with mutual political trust deepening even further.”
Azerbaijani President Ilham Aliyev attended the second Belt and Road Forum for International Cooperation held in Beijing in April, said Guo, adding “the leaders of the two countries reached important consensus to further develop bilateral relations and practical cooperation in various fields.”
“Cooperation in trade, energy, transportation, humanities and other fields has yielded fruits,” she said, noting bilateral trade reached 1.5 billion U.S. dollars from January to August, an increase of 104 percent from the same period last year.
“In recent years, the two nations have been promoting cooperation in a number of areas, including education, culture, health, sports and tourism on a continuous basis,” said the ambassador.
The two countries “have exchanged the visits of culture and art figures and held a wide range of film festivals, art exhibitions and other activities to actively promote unity, mutual understanding and friendly exchanges between the people,” according to Guo.
“At the next stage, the two nations should capitalize on the existing potential and focus on more points of interest,” the ambassador said.
She described the deep traditional friendship, high-level mutual political trust and the highly complementary practical cooperation as key foundations and effective guarantees for the stability and improvement of bilateral relations.
“China is willing to work together with Azerbaijan to push Sino-Azerbaijani friendship and cooperation to a new level and benefit the two countries and their peoples,” the ambassador added.
Source: Xinhua
Posted in art exhibitions, Azerbaijan, Azerbaijani President, Belt and Road Forum for International Cooperation (BRF), Belt and Road Initiative (BRI), bilateral trade, China alert, Chinese ambassador, Chinese Ambassador to Azerbaijan, co-building, cooperation, Culture, education, energy, enjoy, film festivals, fruits, health, humanities, Ilham Aliyev, promising prospects, Sino-Azerbaijani friendship and cooperation, sports, Tourism, Trade, transportation, Uncategorized, Xinhua, Xinhua News Agency |
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21/09/2019
Chinese State Councilor and Foreign Minister Wang Yi and Solomon Islands’ Minister of Foreign Affairs and External Trade Jeremiah Manele sign a joint communique on the establishment of diplomatic relations after their talks in Beijing, capital of China, Sept. 21, 2019. (Xinhua/Xie Huanchi)
BEIJING, Sept. 21 (Xinhua) — China and the Solomon Islands signed a joint communique in Beijing Saturday on the establishment of diplomatic relations.
The communique was signed by Chinese State Councilor and Foreign Minister Wang Yi and Solomon Islands’ Minister of Foreign Affairs and External Trade Jeremiah Manele after they held talks.
The communique stated that the two countries have decided to recognize each other and establish diplomatic relations at the ambassadorial level effective from the date of signature of this communique, in keeping with the interests and desire of the two peoples.
China and the Solomon Islands agree to develop friendly relations on the basis of the principles of mutual respect for sovereignty and territorial integrity, mutual non-aggression, non-interference in each other’s internal affairs, equality, mutual benefit and peaceful coexistence.
The government of Solomon Islands recognizes that there is but one China in the world, that the Government of the People’s Republic of China is the sole legal government representing the whole of China, and that Taiwan is an inalienable part of China’s territory, according to the communique.
“The Government of the Solomon Islands shall sever ‘diplomatic relations’ with Taiwan as of this day and undertakes that it shall no longer develop any official relations or official exchanges with Taiwan. The Government of the People’s Republic of China appreciates this position of the Government of the Solomon Islands,” the communique said.
Prior to the signing of the communique, the Solomon Islands announced in a statement that it recognized the one-China principle and severed the so-called “diplomatic ties” with Taiwan.
Source: Xinhua
Posted in Beijing, China alert, China's territory, Chinese State Councilor and Foreign Minister Wang Yi, diplomatic ties, establish, Government, inalienable part, Jeremiah Manele, Minister of Foreign Affairs and External Trade, one China in the world, one-China principle, People's Republic of China, People's Republic of China (PRC), severed, Solomon Islands, Taiwan, Uncategorized |
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21/09/2019
Chinese Vice Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, addresses the opening ceremony of the 16th China-ASEAN Expo and the China-ASEAN Business and Investment Summit in Nanning, south China’s Guangxi Zhuang Autonomous Region, on Sept. 21, 2019. (Xinhua/Shen Hong)
NANNING, Sept. 21 (Xinhua) — Relations between China and countries of the Association of Southeast Asian Nations (ASEAN) have entered a new stage of all-round development, Chinese Vice Premier Han Zheng said Saturday.
Han, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks at the opening ceremony of the 16th China-ASEAN Expo in Nanning, capital of south China’s Guangxi Zhuang Autonomous Region.
Stressing that ASEAN is a key area in Belt and Road construction, Han said China is willing to work with ASEAN countries to pursue a higher level strategic partnership and build a closer community with a shared future.
China is ready to work with ASEAN to construct the Belt and Road and implement the Master Plan on ASEAN Connectivity 2025 under the guidance of the China-ASEAN Strategic Partnership Vision 2030, Han said.
While stepping up efforts to implement the protocol on upgrading the China-ASEAN Free Trade Area, China will join hands with relevant parties to complete the Regional Comprehensive Economic Partnership, according to the vice premier.
With platforms such as the China International Import Expo and the China-ASEAN Expo injecting strong momentum into common development, China will cooperate with ASEAN in building economic and trade cooperation zones and the China-Indochina Peninsula Economic Corridor.
In addition, efforts will be made to boost the connectivity of infrastructures and deepen innovation cooperation in spheres such as e-commerce, digital trade and 5G internet, Han said.
Source: Xinhua
Posted in 5G internet, all-round development, ASEAN Connectivity 2025, Association of Southeast Asian Nations (ASEAN), Belt and Road construction, China International Import Expo, China International Import Expo (CIIE), China-ASEAN Expo, China-ASEAN Free Trade Area, China-ASEAN Strategic Partnership Vision 2030, China-ASEAN ties, China-Indochina Peninsula Economic Corridor, Chinese Vice Premier, connectivity, digital trade, E-commerce, enter, Guangxi Zhuang Autonomous Region, Han Zheng, infrastructures, innovation cooperation, Nanning, new stage, Regional Comprehensive Economic Partnership, Regional Comprehensive Economic Partnership (RCEP), Standing Committee of the Political Bureau of the Communist Party of China Central Committee, Uncategorized, Vice Premier Han Zheng |
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21/09/2019
- Iranian news outlet quotes military official as saying exercise will be held soon, but Chinese media silent on reported manoeuvres
An Iranian news source says China, Russia and Iran are planning a joint naval exercise soon. Photo: Xinhua
China, Russia and Iran are planning a joint naval drill in the Sea of Oman and northern Indian Ocean “soon” a semi-official Iranian news outlet reported on Saturday, just days after the United States
blamed Iran for a drone attack on Saudi Arabian oil facilities.
General Ghadir Nezami Pour, head of international affairs and defence diplomacy of the Iranian Armed Forces General Staff, said the drill would take place in international waters, Iran Press news agency reported.
“The exercises have different goals including the exchange of tactical and military experiences and sometimes they seek political goals which show a kind of convergence between participants,” he was quoted as saying.
“Officials at the level of defence minister, chief of staff of the armed forces and commanders of the armed forces will come to Iran in the near future and these actions reflect Iran’s active defence diplomacy.”
The comments came in the aftermath of the September 14 missile strikes on Saudi Arabia’s Abqaiq and Khurais oil facilities.
Washington accused Tehran of masterminding the attacks, allegations that Iran denied.
Tehran warned that any military action by the United States or Saudi Arabia would result in “all-out war”.
US Secretary of State Mike Pompeo initially condemned the attacks on the oil facilities as an “act of war” but later said the US was seeking a peaceful solution to the crisis.
On Friday, Chinese President Xi Jinping condemned the attacks during a phone conversation with Saudi Arabia’s King Salman, adding that he hoped the incident would receive a full and fair investigation.
There was no report of the joint drill plan in Chinese media.
Analysts said the exercise was possible as China might want to show support for Iran.
“The timing of the joint exercise might be a bit sensitive and some might take it as a show of China’s support for Iran should there be any military conflicts between countries,” Beijing-based naval expert Li Jie said.
“But it might well be a regular military exchange between the countries if it is held in international waters and without targeting another country.”
China calls for calm in aftermath of drone strikes on Saudi oil facilities
Ni Lexiong, a military specialist and professor at Shanghai University of Political Science and Law, said the drill was to send the message that China would side with Iran “in extreme scenarios”.
“I don’t see things will go that far, but the navy drill is to send the intimidating message,” Ni said.
Two years ago China and Iran conducted a joint naval exercise near the Strait of Hormuz in the Persian Gulf after Washington accused Tehran of sending fast attack boats to harass US warships passing through the area.
Major General Mohammad Baqeri, Chief of Staff of the Iranian Armed Forces, was in Beijing for a three-day visit earlier this month and agreed that the two countries would have more visits with senior military officials and advance cooperation in training.
China still accounts for more than half of Iran’s oil exports, according to the United States, complicating Washington’s efforts to economically isolate Tehran in its “maximum pressure campaign”.
Source: SCMP
Posted in Abqaiq and Khurais oil facilities, accused, act of war, allegations, attack boats, attacks, Beijing, Chief of Staff of the Iranian Armed Forces, China alert, Chinese President Xi Jinping, condemned, crisis, denied, drone attack, extreme, General Ghadir Nezami Pour, head of international affairs and defence diplomacy, Indian Ocean, International waters, iran, Iranian Armed Forces General Staff, joint, King Salman, Major General Mohammad Baqeri, masterminding, message, Mike Pompeo, missile strikes, naval drill, Naval expert, navy drill, oil facilities, peaceful solution, Persian Gulf, plan, Russia, Saudi Arabia, Saudi Arabian, scenarios, Sea of Oman, Shanghai University of Political Science and Law, Strait of Hormuz, Tehran, Uncategorized, United States, US Secretary of State, US warships, visit, Washington |
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21/09/2019
ALMATY/NUR-SULTAN (Reuters) – Police detained dozens in Kazakhstan’s two largest cities on Saturday as they took part in the latest protest against China’s influence in the Central Asian republic.
Neighbouring China is already one of Kazakhstan’s largest investors and trade partners and a plan to relocate a number of Chinese plants and factories to the former Soviet republic has faced public opposition.
The latest round of protests on Saturday was organised by supporters of Mukhtar Ablyazov, a fugitive banker living in France who has been the fiercest critic of Kazakhstan’s first president, Nursultan Nazarbayev.
Nazarbayev resigned last March after running the oil-rich nation for almost thirty years, but retains sweeping powers as the head of the security council and the ruling Nur Otan party.
Kazakh authorities consider Ablyazov’s political movement extremist and involvement in its activities a crime. Authorities have detained 57 people and may be charged, the interior ministry said.
“You know that as of today’s date at 2 p.m. the banned DCK in Kazakhsan was called upon to gather… we (the police) asked people to disperse, and those who didn’t, were taken to the district offices for questioning,” Bakytzhan Malybayev, first deputy chief of Nur-Sultan police, told reporters. “We will carry out questioning and then the people will be released.”
Reuters reporters witnessed several arrests in Nur-Sultan and Almaty. In Kazakhstan’s capital Nur-Sultan, police detained a man with a banner reading: “Let’s not give way to Chinese expansion” and “The old man is the enemy”, an anti-Nazarbayev slogan. Several people chanted:”Freedom to political prisoners”.
Some protesters tried to escape as police moved in and smashed the windows of a police bus.
In Almaty, protesters were quickly taken away to police buses as they began chanting slogans against Chinese expansion and “Old man, go away!”
China is a major investor in Kazakhstan’s energy sector and buys oil and gas from the mostly Muslim nation of 18 million, but critics accuse some Chinese companies – as well as Western ones – of hiring too few local staff and paying them less than foreign workers.
Source: Reuters
Posted in Almaty, anti-China, Central Asian republic, detained, Dozens, Kazakhstan, Mukhtar Ablyazov, Muslim nation, Nur-Sultan, Nursultan Nazarbayev, Old man, go away!, protests, Uncategorized |
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20/09/2019
A Long March-11 carrier rocket carrying five new remote-sensing satellites blasts off from the Jiuquan Satellite Launch Center in northwest China’s Gansu Province, Sept, 19, 2019. Five new remote-sensing satellites were sent into planned orbit on Thursday. The satellites belong to a commercial remote-sensing satellite constellation project “Zhuhai-1,” which will comprise 34 micro-nano satellites. (Photo by Wang Jiangbo/Xinhua)
JIUQUAN, Sept. 19 (Xinhua) — Five new remote-sensing satellites were sent into planned orbit from the Jiuquan Satellite Launch Center in northwest China’s Gobi Desert Thursday.
The five satellites were launched by a Long March-11 carrier rocket at 2:42 p.m. (Beijing Time).
The satellites belong to a commercial remote-sensing satellite constellation project “Zhuhai-1,” which will comprise 34 micro-nano satellites, including video, hyperspectral, and high-resolution optical satellites, as well as radar and infrared satellites.
The carrier rocket was developed by the China Academy of Launch Vehicle Technology, and the satellites were produced by the Harbin Institute of Technology and operated by the Zhuhai Orbita Aerospace Science and Technology Co. Ltd.
Thursday’s launch was the 311th mission for the Long March series carrier rockets.
The newly launched satellites comprise four hyperspectral satellites with 256 wave-bands and a coverage width of 150 km, and a video satellite with a resolution of 90 centimeters.
The Zhuhai-1 hyperspectral satellites have the highest spatial resolution and the largest coverage width of their type in China.
The data will be used for precise quantitative analysis of vegetation, water and crops, and will provide services for building smart cities, said Orbita, the largest private operator of hyperspectral satellites in orbit.
The company aims to cooperate with government organizations and enterprises to expand the big data satellite services.
Source: Xinhua
Posted in big data satellite services, China Academy of Launch Vehicle Technology, China alert, crops, Gobi Desert, Harbin Institute of Technology, high-resolution optical satellites, hyperspectral, infrared satellites, JIUQUAN, Jiuquan Satellite Launch Center, launches, Long March series carrier rockets, Long March-11 carrier rocket, micro-nano satellites, Orbita, quantitative analysis, radar, remote-sensing satellites, Smart Cities, Uncategorized, vegetation, video, water, Zhuhai Orbita Aerospace Science and Technology Co. Ltd., Zhuhai-1 |
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20/09/2019
NANNING, Sept. 19 (Xinhua) — Pham Thi Nguyet Hoa, a vendor living in Vietnam’s Mong Cai, comes to Dongxing, a southern Chinese port city, to sell Vietnam fruits every day. When night falls, she often ends up with thousands of yuan in her pocket, much more than what she can earn at home.
“Most of my customers are Chinese, and it is very convenient to exchange Chinese yuan to Vietnamese Dong as many banks in Dongxing have this currency exchange service,” said Pham.
Tourism has been a pillar industry in the border city of southern China’s Guangxi Zhuang Autonomous Region. Dongxing port saw 12 million people, of which half were tourists, pass through last year, ranking first among all land ports in China.
In the first six months this year, tourism consumption at the port exceeded 6.2 billion yuan (874 million U.S. dollars), up 40.4 percent from the year before.
The flourishing border tourism has brought a huge demand for currency exchange, with a slew of financial reforms rolled out in recent years.
In 2014, the ABC China (Dongxing Experimental Zone) ASEAN Currency business center was established in Dongxing, allowing direct convertibility of Chinese yuan and Vietnamese Dong.
In February 2018, a total of 8 million yuan was transferred in cash from Vietnam to China, marking the first cross-border cash transfer in Guangxi between China and Vietnam.
Fan Zuojun, vice president of Guangxi University, said the cross-border cash transfer will further promote the financial cooperation between China and Members of the Association of Southeast Asian Nations (ASEAN) as well as deepen reform and push forward the internationalization of the Chinese currency in the region.
China and ASEAN countries have always maintained close relations in trade.
In January 2010, the China-ASEAN Free Trade Area was set up, which has significantly boosted bilateral trade. China has maintained its position as the largest trading partner of ASEAN for 10 consecutive years, and trade between China and ASEAN has skyrocketed tenfold from 16 years ago to 587.8 billion U.S. dollars in 2018.
In the first half of 2019, ASEAN became China’s second-largest trading partner, with bilateral trade volume reaching 291.85 billion U.S. dollars, up 4.2 percent year on year.
Guangxi’s geographical advantages have also given it huge development dividends over the past decades. ASEAN has been Guangxi’s largest trade partner for 19 consecutive years, and trade volume between Guangxi and ASEAN in the first seven months of this year topped 128 billion yuan, accounting for 48.7 percent of Guangxi’s total foreign trade.
Now with the launch of the Guangxi Pilot Free Trade Zone (FTZ) in August, bilateral trade exchanges are expected to embrace another golden opportunity.
The pilot FTZ, with a total area of nearly 120 square km, will focus on modern financial services, smart logistics, digital economy, port shipping logistics, international trade and cross-border tourism, among others.
Guangxi vows to make greater efforts to consolidate its financial strength and build itself into an ASEAN-oriented financial portal, with over 90 financial reform measures being rolled out to further facilitate trade and investment and promote innovation in financial services with ASEAN countries.
Posted in ABC China (Dongxing Experimental Zone) ASEAN Currency business center, ASEAN, Association of Southeast Asian Nations (ASEAN), build, China alert, China's border region, China-ASEAN Free Trade Area, Chinese, Chinese yuan, consumption, customers, Dongxing, exchange, expedites, financial gateway, first, Guangxi Pilot Free Trade Zone (FTZ), Guangxi University, Guangxi Zhuang Autonomous Region, land ports, Nanning, night, pillar industry, port city, ranking, reform, sell, Tourism, tourists, Uncategorized, Vietnam, Vietnam fruits, Vietnamese Dong |
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CHINDIA ALERT: You'll be living in their world, very soon 