Chindia Alert: You’ll be Living in their World Very Soon
aims to alert you to the threats and opportunities that China and India present. China and India require serious attention; case of ‘hidden dragon and crouching tiger’.
Without this attention, governments, businesses and, indeed, individuals may find themselves at a great disadvantage sooner rather than later.
The POSTs (front webpages) are mainly 'cuttings' from reliable sources, updated continuously.
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European nations are divided over how best to deal with Beijing, which looms larger in their policy and public debates
Think tanks came together and reported on China’s much-touted medical aid and ‘mask diplomacy’ during Covid-19 crisis
European nations are looking to be more cohesive in their approach towards relations with China. Photo: Bloomberg
As Beijing steps up its pressure campaign on Europe in the wake of the Covid-19 pandemic, their relations look set to become more diverse and contested amid growing distrust and wariness of China’s expanding influence, according to new research.
The study, based on analysis of China’s role in 19 European countries’ handling of the coronavirus crisis, showed that Europe remained largely divided over how to deal with Beijing, which has figured ever more prominently in policy and public debates in many parts of the continent.
A total of 28 experts from 21 think tanks across the continent, collectively known as the European Think-tank Network on China, were involved in the research.
It came on the heels of a diplomatic debacle in the past week that saw the European Union reportedly bowing to pressure by China. The EU reportedly toned down part of a report documenting Beijing’s disinformation efforts to deflect the blame and rewrite the global coronavirus narrative.
Although a spokesperson for the EU denied those allegations, the saga has “moreover revealed the pressures that China has placed on
officials during the crisis”, according to John Seaman, editor of the report and a research fellow at the French Institute of International Relations.
In a phone call on Wednesday, Chinese Premier Li Keqiang and European Commission President Ursula von der Leyen shrugged off concerns about their discord and vowed to boost the fight against the virus and boost economic recovery, according to Xinhua.
Germany ‘rejected China’s bid for positive spin’ on pandemic response
27 Apr 2020
According to Seaman, the Covid-19 crisis hit at a time when traditionally trade-driven China-EU relations had grown more complex and competitive after the European Commission said for the first time last year that Beijing was a systemic rival.
“Debates over the need to adopt more coherent strategies towards China have been emerging across Europe. In many ways, the current crisis has become a catalyst for a number of trends that have been shaping Europe-China relations in recent years, while in other ways it has turned the tables,” he said in the report.
“It has simultaneously brought Europe and China into closer cooperation, pushed them further apart, and seemingly underlined the fractures that exist within Europe on how to approach an increasingly influential China.”
A growing number of European countries, including Sweden and Britain, have joined the United States and Australia in calling for an international inquiry into China’s handling of the pandemic. Leaders from Germany and France have also pressed Beijing for greater transparency about the origin of the deadly virus.
The European think tanks’ report was also focused on China’s unusually aggressive coronavirus diplomacy, with Chinese embassies and ambassadors shifting the blame on to Western democracies and promoting Beijing’s messaging “with varying degrees of dogmatism, divisiveness and moderation” on Twitter and in traditional media.
“While China’s increasingly proactive public diplomacy is widespread, and there appears to be a relative degree of consistency in messaging, there is a diversity in method that ranges from low key (Latvia or Romania) to charm offensive (Poland, Portugal, Italy or Spain) to provocative or aggressive (Sweden, Germany or France),” the report said.
It examined China’s much-touted medical aid and “mask diplomacy” and found “a correlation between Chinese companies with commercial interests in the country and donations from these companies” in countries including Greece, Hungary, Italy, Portugal and Spain.
Boxes of medical supplies from China in Rome. Some European nations are growing wary about China’s diplomatic overreach and apparent willingness to alter the coronavirus narrative. Photo: Xinhua
Many countries have pushed back against China’s diplomatic overreach and its preferred narrative that has served to “[underline] the apparent successes of its autocratic governance model, ignoring its clear downfalls in managing the crisis initially, while sowing doubt on the effectiveness of liberal democracies”, according to Seaman.
While the European Union’s foreign policy chief Josep Borrell warned of Beijing’s geopolitical game to expand its influence through spinning and “politics of generosity”, countries such as Germany and Sweden have moved to tighten investment screening, 5G and industrial policies targeting Chinese firms.
Zhang Ming, China’s top envoy to the EU, last week dismissed the concerns about China’s alleged ploy to use the vulnerabilities of other countries to advance China’s geopolitical interests, such as with the country’s embattled tech giant Huawei and the ambitious Belt and Road Initiative.
“Disinformation is our common enemy and we need to make joint efforts to eradicate it,” Zhang said, claiming China had been a victim of unspecified disinformation campaigns.
The report also noted that China’s actions towards Europe in times of crisis looked set to amplify the fractures across the continent and prompt further debates about the need for a coherent EU strategy on China.
A poll of more than 12,000 people across the 28 EU member countries by German think tank Bertelsmann Stiftung in September last year showed 45 per cent of Europeans saw China as a competitor while only 9 per cent believed their countries shared the same political interests or values with China.
Another survey of 16 European countries released by the Pew Research Centre in December also showed the continent remained deeply divided over how to approach China.
While people in most of western Europe and some of Central and Eastern Europe, such as Slovak and Czech, saw China negatively, 51 per cent in Greece had a positive view of China and those in Russia, Ukraine, Poland, Bulgaria and Lithuania tended to see China more favourably.
Photo taken on April 30, 2020 shows flower beds to celebrate the upcoming International Labor Day at Tian’anmen Square in Beijing, capital of China. (Xinhua/Ju Huanzong)
Patten says to watch out for any future attempts by Beijing to ‘undermine the rule of law and to corrupt the electoral process in the months ahead’
The plea comes as the ruling Conservative Party in Britain toughens up China policies
Chris Patten is an outspoken critic of the Chinese government’s handling of Hong Kong affairs. Photo: AFP
Britain’s last colonial governor of Hong Kong, Chris Patten, has asked the British government to watch out for Chinese attempts to interfere with the city’s affairs while the world grapples with the coronavirus pandemic.
He made the plea to Foreign Secretary Dominic Raab as the ruling Conservative Party toughens up China policies, amid what many party members see as Beijing’s deliberate failures to be transparent about the initial Covid-19 outbreaks.
The call also comes amid growing worry among Hong Kong’s pro-democracy activists, as police have rounded up dissidents and Beijing authorities have stepped up the rhetoric of national security concerns.
Patten, an outspoken critic of the Chinese government’s handling of Hong Kong affairs, said: “I hope we can … count on the British government to call out China for its breaches of the [Sino-British] Joint Declaration and to watch carefully for future attempts by Beijing to undermine the rule of law and to corrupt the electoral process in the months ahead.”
Wave of arrests of Hong Kong pro-democracy figures draws global criticism
The declaration provided for Hong Kong’s status quo until 2047.
The Foreign Office has not responded to an inquiry by the Post on Patten’s letter.
Citing their roles in unlawful protests, Hong Kong police rounded up at least 15 opposition camp activists earlier this month, including media tycoon Jimmy Lai Chee-ying and prominent barrister Martin Lee Chu-ming, known as the city’s “father of democracy”.
On Tuesday, a bipartisan group of US lawmakers wrote Secretary of State Mike Pompeo requesting that his department’s upcoming assessment of Hong Kong’s autonomy reflect a recent wave of arrests by the city’s authorities of pro-democracy activists.
Hong Kong police to respond with force to any Labour Day protests
30 Apr 2020
Patten also asked the British government to investigate the origin of the coronavirus.
“I would be grateful for your assurance that the British government will press for an expert mission to Wuhan and will encourage other countries to do the same,” he wrote, underscoring the need to “make sure that we know everything about the nature of the virus in order to fight it effectively. We also need to prevent anything similar happening in the future.”
On Wednesday, Britain’s ambassador to the US Karen Pierce backed calls for an investigation into the origins of the novel coronavirus and the response of the World Health Organisation.
“We need to learn after all these crises, just as we did after Ebola in 2014. We need to learn how we can always do things better,” she said.
The comments came after Britain’s foreign affairs parliamentary committee asked the government whether it plans to use international bodies to hold China to account over the Covid-19 pandemic.
– The last nine poverty-stricken county-level regions in east China’s Anhui Province have been removed from the country’s list of impoverished counties.
– This marks that all county-level regions in the Yangtze River Delta, consisting of Shanghai and the provinces of Jiangsu, Zhejiang and Anhui, have been officially lifted out of poverty for the first time in history.
HEFEI, April 29 (Xinhua) — Sitting in front of his smartphone, Zhang Chuanfeng touts dried sweet potatoes to viewers on China’s popular video-sharing app Douyin, also known as TikTok.
“These are made from sweet potatoes I grew myself. They are sweet and have an excellent texture,” said Zhang while livestreaming in Tangjiahui Township of Jinzhai County in east China’s Anhui Province. Tucked away in the boundless Dabie Mountains, the township used to have the biggest poor population in the county.
Aerial photo taken on April 16, 2020 shows residential buildings in Dawan Village of Jinzhai County, east China’s Anhui Province. (Xinhua/Liu Junxi)
Jinzhai County is among the last nine county-level regions in Anhui that have been removed from the country’s list of impoverished counties, according to an announcement issued by the provincial government Wednesday. They are also the last group of county-level regions that bid farewell to poverty in the Yangtze River Delta.
E-COMMERCE
Zhang might seem like a typical e-commerce businessman reaping success in China’s booming livestreaming industry. But his road to success has been a lot bumpier: he suffers from dwarfism.
A little more than 1.4 meters tall, Zhang has a babyface, making him “look like a junior school student,” he said. But the man, 38, is the father of a nine-year-old boy.
For Zhang, life was tough before 2014. “Nobody wanted me because of my ‘disabilities’ when I went out to look for jobs,” he said. “I was turned down again and again.”
Zhang was put on the government’s poverty list in 2014 as China implemented targeted poverty-relief measures. With the help of local officials, he got a bank loan of 10,000 yuan (about 1,400 U.S. dollars) and bought 22 lambs. He tended the animals whole-heartedly and seized every opportunity to learn how to raise them more professionally.
Zhang Chuanfeng feeds his lambs in Zhufan Village of Jinzhai County, east China’s Anhui Province, April 26, 2017. (Xinhua/Zhang Duan)
Within a year, the number of his lambs expanded to hundreds. In 2016, Zhang’s earnings exceeded 100,000 yuan, more than enough for him to cast off poverty.
Riding on this success, Zhang began to seek new opportunities. He rented a shop and started selling products online to embrace an e-commerce strategy the local government introduced in 2017.
More than 100 online shops, including Zhang’s, in the county have helped more than 7,000 poverty-stricken households sell about 73 million yuan worth of local specialties since 2018. Zhang alone earned 500,000 yuan from a sales revenue of 5 million yuan last year.
A villager arranges local specialties for sale at Dawan Village of Jinzhai County, east China’s Anhui Province, April 17, 2020. (Xinhua/Liu Junxi)
WICKERWORK SUCCESS
About 100 km north of Jinzhai lies Funan, a place that used to be vulnerable to constant floods.
Zhang Chaoling, who lives by the Huaihe River in Funan County, had to flee her hometown at a young age due to floods, but has flourished on a willow plantation along the river later.
“The land is largely covered by silt following continual flooding in the past. It is an ideal place to plant willows and make wickerwork,” Zhang said.
Zhang left her hometown for Guangzhou in 1993 and found a job in a garment factory. A few years later, she founded a trading company with her husband in Guangzhou, selling wickerwork products from her hometown to other countries.
Zhang returned to her hometown and set up a wickerwork production base in 2011. Funan is famous for its delicate wickerwork. Skilled craftsmen traditionally use local willow as a raw material to weave products such as baskets, furniture and home decorations.
A villager arranges wickerwork products in Funan County, east China’s Anhui Province, April 15, 2020. (Photo by Zhou Mu/Xinhua)
“The flood is well controlled now. I remember the last huge flood came in 2007,” Zhang said.
Taking advantage of the fertile land along the Huaihe River, she plants over 130 hectares of willow trees and employs hundreds of locals mostly in their 50s and 60s.
“I can process 100 to 150 kg of willow twigs per day, from which I make around 80 yuan,” said Geng Shifen, who peels willow twigs with a clamp next to the plantation.
A total of 130,000 people are engaged in the wickerwork industry in Funan, creating an output of nearly 9 billion yuan in 2019, and helping 15,000 locals shake off poverty, local statistics showed.
POVERTY REDUCTION FEAT
The Anhui provincial government Wednesday announced that its last nine county-level regions including Jinzhai and Funan are removed from the country’s list of impoverished counties.
This marks that all 31 impoverished county-level regions in Anhui have shaken off poverty, echoing China’s efforts to eradicate absolute poverty by the end of 2020.
With the announcement, all county-level regions in the Yangtze River Delta have been officially lifted out of poverty for the first time in history.
A bus runs on a rural road in Jinzhai County, east China’s Anhui Province, April 17, 2020. (Xinhua/Liu Junxi)
Covering a 358,000-square-km expanse, the Yangtze River Delta, consisting of Shanghai and the provinces of Jiangsu, Zhejiang and Anhui, is one of the most populated and economically dynamic areas in China, contributing one-fourth of the country’s GDP.
Anhui had a population of 63.65 million as of 2019, official data showed. The poor population in the province had decreased from 4.84 million in 2014 to 87,000 in 2019, and the poverty headcount ratio had been reduced from 9.1 percent to 0.16 percent during the period, according to the provincial poverty relief office.
A county can be removed from the list if its impoverished population drops to less than 2 percent, according to a national mechanism established in April 2016 to eliminate poverty in affected regions. The ratio can be loosened to 3 percent in the western region.
By the end of 2019, 5.51 million people in China were still living in poverty.
“We will continue our work to prevent people from returning to poverty, and help the remaining poor population shake off poverty by all means,” said Jiang Hong, director of the Anhui provincial poverty relief office.
Outbound flights from Beijing were 15 times higher on one travel site within half an hour of Beijing relaxing quarantine requirements on the city
The rebound in bookings spells some hope for online travel providers in China as the country emerges from a pandemic which saw widespread travel restrictions
Passengers arrive from a domestic flight at Beijing Capital Airport on March 27, 2020. Photo: AFP
Within an hour of Beijing downgrading its emergency response level, relaxing quarantine requirements for some arrivals to the Chinese capital city, travel bookings on some sites surged up to 15 times.
Thirty minutes after the announcement on Wednesday, bookings for outbound flights from Beijing were 15 times higher than before the announcement on Qunar, one of the biggest online travel service providers in China. Searches for travel packages and hotel bookings on the platform also increased three-fold, according to a Qunar report.
On Alibaba Group Holding‘s Fliggy travel platform, bookings for flight and trains heading in and out of Beijing increased 500 per cent and 300 per cent respectively one hour after the announcement, compared to the same time a day ago, according to a Fliggy report. Alibaba owns the South China Morning Post.
Bookings for flight and train tickets in Beijing for the upcoming Labour Day long weekend also increased more than 300 per cent and 160 per cent respectively on Chinese group buying site Meituan Dianping on Wednesday after the announcement compared to the day before, while searches for the attractions in the Beijing area on the platform increased almost three times from a week ago, according to Meituan.
“The surge in searches for travel in Beijing was because the lockdown measures in the city were the strictest in the country after work resumed,” said Jiang Xinwei, senior analyst with Analysys. “Consumption among residents was suppressed [during the lockdowns], so there is now a rebound in bookings.”
China’s online travel sites prepare for surge in domestic tourism
21 Mar 2020
The rebound in bookings spells some hope for online travel providers in China as the country gradually emerges from a pandemic which the Chinese government responded to by implementing strict quarantine measures, shutting down tourist attractions and suspending group tours.
Beijing-based consultancy Analysys estimates that China’s national tourism economy lost at least 10 billion yuan (US$1.4 billion) a day on average during the outbreak, with travel service providers like Qunar and Ctrip overloaded with millions of booking changes as well as cancellation and refund requests.
The relaxation of travel restrictions in and out of Beijing also comes ahead of a
, which starts on Friday and is the first extended public holiday after Lunar New Year in late January.
In November, the Chinese government lengthened the holiday from the original three days to five to stimulate consumption and encourage travelling amid a slowing economy weighed down by the US-China trade war.
Some cities, such as Huzhou in eastern China’s Zhejiang province and Kunming in southwestern province Yunnan, have issued travel vouchers to stimulate consumption for the tourist industry, according to the Ministry of Culture and Tourism.
Ctrip estimated that there would be more than 86 million domestic tourists during the long weekend – more than double the number of travellers seen during the Ching Ming Festival in April, which recorded 43 million tourists, according to the China Tourism Academy.
However, Jiang said the rebound this week does not mean the Chinese travel industry is out of the red. “The travel industry will recover partially during the public holiday, but this will not be more than 60 per cent [of levels before the pandemic],” he said. “The government needs to do more to signal that travelling is safe and encourage residents to do so.”
WASHINGTON (Reuters) – President Donald Trump said on Wednesday he believes China’s handling of the coronavirus is proof that Beijing “will do anything they can” to make him lose his re-election bid in November.
In an interview with Reuters in the Oval Office, Trump talked tough on China and said he was looking at different options in terms of consequences for Beijing over the virus. “I can do a lot,” he said.
Trump has been heaping blame on China for a global pandemic that has killed at least 60,000 people in the United States according to a Reuters tally, and thrown the U.S. economy into a deep recession, putting in jeopardy his hopes for another four-year term.
The Republican president, often accused of not acting early enough to prepare the United States for the spread of the virus, said he believed China should have been more active in letting the world know about the coronavirus much sooner.
Asked whether he was considering the use of tariffs or even debt write-offs for China, Trump would not offer specifics. “There are many things I can do,” he said. “We’re looking for what happened.”
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“China will do anything they can to have me lose this race,” said Trump. He said he believes Beijing wants his Democratic opponent, Joe Biden, to win the race to ease the pressure Trump has placed on China over trade and other issues.
“They’re constantly using public relations to try to make it like they’re innocent parties,” he said of Chinese officials.
He said the trade deal that he concluded with Chinese President Xi Jinping aimed at reducing chronic U.S. trade deficits with China had been “upset very badly” by the economic fallout from the virus.
A senior Trump administration official, speaking on condition of anonymity, said on Wednesday that an informal “truce” in the war of words that Trump and Xi essentially agreed to in a phone call in late March now appeared to be over.
The two leaders had promised that their governments would do everything possible to cooperate to contain the coronavirus. In recent days, Washington and Beijing have traded increasingly bitter recriminations over the origin of the virus and the response to it.
However, Trump and his top aides, while stepping up their anti-China rhetoric, have stopped short of directly criticizing Xi, who the U.S. president has repeatedly called his “friend.”
Trump also said South Korea has agreed to pay the United States more money for a defense cooperation agreement but would not be drawn out on how much.
“We can make a deal. They want to make a deal,” Trump said. “They’ve agreed to pay a lot of money. They’re paying a lot more money than they did when I got here” in January 2017.
The United States stations roughly 28,500 troops in South Korea, a legacy of the 1950-53 Korean War that ended in an armistice, rather than a peace treaty.
Trump is leading a triage effort to try to keep the U.S. economy afloat through stimulus payments to individuals and companies while nudging state governors to carefully reopen their states as new infections decline.
Trump sounded wistful about the strong economy that he had enjoyed compared with now, when millions of people have lost their jobs and GDP is faltering.
“We were rocking before this happened. We had the greatest economy in history,” he said.
He said he is happy with the way many governors are operating under the strain of the virus but said some need to improve. He would not name names.
Trump’s handling of the virus has come under scrutiny. Forty-three percent of Americans approved of Trump’s handling of the coronavirus, according to the Reuters/Ipsos poll from April 27-28.
But there was some good coronavirus news, as Gilead Sciences Inc said its experimental antiviral drug remdesivir was showing progress in treating virus victims.
Trump has also seeking an accelerated timetable on development of a vaccine.
“I think things are moving along very nicely,” he said.
At the end of the half-hour interview, Trump offered lighthearted remarks about a newly released Navy video purportedly showing an unidentified flying object.
“I just wonder if it’s real,” he said. “That’s a hell of a video.”
BEIJING, April 28 (Xinhua) — China has achieved much progress in environmental protection and taken the lead in green development in recent years.
The efforts have exemplified Chinese President Xi Jinping’s proposal of “working together for a green and better future for all” made a year ago in his speech at the opening ceremony of the International Horticultural Exhibition 2019 Beijing.
In the keynote speech, Xi proposed a five-point initiative on promoting green development, namely pursuing harmony between man and nature, pursuing the prosperity based on green development, fostering a passion for nature-caring lifestyle, pursuing a scientific spirit in ecological governance, and joining hands to tackle environmental challenges.
China’s hard work on environment protection has paid off.
The ecological environment has improved significantly. People are enjoying more days of blue sky, cleaner water, and fertile land.
China has achieved the goal of zero growth of desertified land by 2030 set by the United Nations ahead of time. Besides, forest stock volume increased by 4.56 billion cubic meters compared with that of 2005.
Carbon dioxide emissions per unit of GDP in 2018 fell by 45.8 percent compared with that of 2005, exceeding the target set for the year.
After more than 30 years of hard work, the seventh largest desert in China, the Kubuqi Desert in Inner Mongolia Autonomous Region, once known as the “sea of death” difficult for birds to fly across, has turned into a green valley.
In January 2020, in a letter in reply to the student representatives of the Global Alliance of Universities on Climate, the Chinese president mentioned his thoughts about ecological civilization in his youth.
“Over four decades ago, I lived and worked for many years in a small village on the Loess Plateau in western China. Back then, the ecology and environment there was seriously damaged due to over-development and the local people were trapped in poverty as a result,” Xi wrote.
“This experience taught me that man and nature are a community of life and that the damage done to nature will ultimately hurt mankind,” said Xi.
China’s progress and achievements are recognized worldwide.
The ecological civilization and green development advocated by China are actually an endeavor to find a way to balance economic development and environmental protection, said John Cobb, Jr., the founding president of the Institute for Postmodern Development of China and member of the American Academy of Arts and Sciences.
Noting that the endeavor is a remarkable exploration, he expressed his hope that it will succeed.
China is on the right path in dealing with global climate change and achieving sustainable development, said Borge Brende, president of the World Economic Forum.
In addition to making efforts at home, China has also rolled out a series of measures to support the global combat against climate change.
In September 2015, ahead of the Paris climate change conference, Xi pledged a 20-billion-yuan (3-billion-U.S. dollars) China South-South Climate Cooperation Fund, which was dedicated to help other developing countries combat climate change.
China has also been fulfilling the obligations of the United Nations Framework Convention on Climate Change and the Paris Agreement, and achieved the goal of its intended nationally determined contributions submitted to the secretariat of the Climate Change Convention as scheduled.
UN Secretary-General Antonio Guterres expressed his appreciation for China’s important contributions to addressing the climate change and building a green “Belt and Road,” and said he expects China to continue to play a leading role in addressing the climate change and other issues.
“Lucid waters and lush mountains are invaluable assets,” a concept put forward by Xi in 2005 when he visited Yucun Village in southeast China’s Zhejiang Province as the party chief of the province, has become the motto of the Lao Ministry of Natural Resources and Environment.
In March 2020, when Xi returned to Yucun, he said that economic development should not be achieved at the expense of the ecological environment. To protect the ecological environment is to develop the productive forces, he said.
The history of civilizations shows that the rise or fall of a civilization is closely tied to its relationship with nature, Xi said at the International Horticultural Exhibition last year.
Only by joining hands can the humankind advance a global ecological civilization and march towards the bright future of building a community with a shared future for mankind.
Carrier targets return of daily services to major Asian cities and more frequent long-haul services
Airline to monitor global situation and adjustments may be made ‘as necessary’
A Cathay Pacific employee stands near the check-in desks at a virtually deserted Hong Kong International Airport. Photo: Sam Tsang
Cathay Pacific Airways has signalled its intent to start reversing its near-total grounding of aircraft because of the coronavirus pandemic, and plans to start increasing its number of passenger flights in the last week of June.
The airline said it hoped to add more long-haul destinations, make flights more frequent, and reinstate some major Asian cities to its daily schedule for the first time in several months, “subject to government travel restrictions”.
Cathay scaled its operations back to a skeleton schedule of 3 per cent of services in early April, and that was extended until June 20. The newly announced increases would take that up to 5 per cent.
Tracking the massive impact of the Covid-19 pandemic on the world’s airline industry in early 2020 Singapore Airlines, another of Asia’s major carriers, said last week it would maintain a 96 per cent reduction in flights until the end of June.
Cathay, which has 236 aircraft, currently operates long-haul flights to London Heathrow, Los Angeles, Vancouver and Sydney twice a week, but will increase that to five times a week.
On top of that, Amsterdam, Frankfurt, San Francisco and Melbourne are among the long-haul destinations set to return three times a week.
With regional routes currently operating three times a week, including Tokyo Narita, Taipei, Beijing and Singapore, Asian routes will increase to a daily service. Osaka and Seoul would also return to the network, too.
“We will continue to monitor the developing situation and further adjustments may be made as necessary,” the airline said.
Coronavirus: ban on non-residents leaves Hong Kong airport virtually deserted
Earlier this month, Cathay’s budget unit HK Express extended its total grounding until June 18, having been on hiatus since March 23.
Meanwhile, Boeing has added to warnings of a very slow recovery in air travel, with Dave Calhoun, its CEO, saying demand may not return to 2019 levels for two to three years.
Cathay Pacific’s daily passenger volume has collapsed from regular previous peaks of 100,000 to less than 1,000 in April. Over the past two months, the company has been running more than 250 extra pairs of cargo-only passenger flights to maintain air freight capacity, much of which is accounted for by passenger services.
In a bid to cut costs, most of the Cathay Pacific Group’s 34,200 staff have taken three weeks of unpaid leave. Also, 433 cabin crew in the US and Canada were told they would be laid off, while about 200 pilots in the UK, Australia have been furloughed.
The International Air Transport Association, which revised down pandemic-related revenue losses for the global sector to US$314 billion (HK$2.4 trillion) two weeks ago, said last week the Hong Kong aviation market would take a US$7.5 billion hit this year, a 27 per cent increase on the previous estimate. That equates to a 59 per cent decline in air travel demand, or a loss of almost 31 million passengers, in 2020.
BOCOM International, a financial services company, forecast in a report on Monday that the city’s aviation sector would lose HK$65.2 billion in revenue in 2020, yet Cathay Pacific could emerge as a winner if it survived largely unscathed, given the weakness of rivals at home and in the region plus its dominant position in Hong Kong.
“Hong Kong aviation is at the most critical juncture in its history. Though calamitous, Covid-19 is set to reshape Hong Kong’s aviation industry for the years, possibly decades, to come,” said transportation analyst Luya You.
“Covid-19’s sweeping blows now offer a blank slate for remaining players to regain lost leadership or gain new markets. If [Cathay Pacific] can survive intact from Covid, the carrier could enjoy winner-takes-all growth trajectory in the years following [2020].”
Hardline politicians want president to fulfil promise to overhaul constitution to reflect the self-ruled island’s political reality
A petition calls for two referendums on the issue – proposing it either be replaced with a new one or revised
The push for constitutional change could lead to a cross-strait conflict. Photo: Handout
Taiwanese President Tsai Ing-wen is under growing pressure from the hardline camp to push for constitutional change to reflect the self-ruled island’s independent status – something observers say could provoke a cross-strait conflict.
With Tsai due to be sworn in for a second four-year term next month after a landslide victory in January’s election, hardline pro-independence politicians want her to fulfil a 2015 campaign promise: to overhaul the constitution so that it reflects Taiwan’s political reality. The process has been stalled since Tsai’s first term, which began in 2016.
Leading the charge is the Taiwan New Constitution Foundation, a group formed last year by a Tsai adviser and long-time independence advocate Koo Kwang-ming.
The foundation launched a petition at the end of March calling for two referendums on the constitution – proposing that it either be replaced with a new one or revised.
The existing constitution was adopted when Kuomintang leader Chiang Kai-shek and the KMT fled to Taiwan and set up an interim government in 1949 following their defeat by Mao Zedong’s communists in mainland China.
Drawn up in 1947, the constitution still puts the mainland and Mongolia under the Republic of China jurisdiction – Taiwan’s official name for itself. In reality, its jurisdiction extends only to Taiwan and its outlying islands of Penghu, Matsu and Quemoy, which is also known as Kinmen.
Taiwan’s constitution was adopted when KMT leader Chiang Kai-shek fled to the island in 1949. Photo: Handout
“We have garnered more than 3,000 signatures from the public for the first phase of initiating the proposals to hold two referendums asking the president to push for constitutional change,” Lin Yi-cheng, executive director of the Taiwan New Constitution Foundation, said on Wednesday.
He said they would propose that voters be asked two questions in the referendums: “Do you support the president in initiating a constitutional reform process for the country?”
And: “Do you support the president in pushing for the establishment of a new constitution reflecting the reality of Taiwan?”
“We’re ready to send the two referendum proposals to the Central Election Commission on Thursday,” he said.
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Under Taiwan’s Referendum Act, the process for holding a referendum involves three stages: a proposal, endorsement and voting.
Lin said there should be no problem for the commission to approve the proposal stage since they had gathered far more than the minimum 1,931 signatures needed under the act.
The endorsement stage requires a minimum of 290,000 signatures, and if the referendum is held, they will need at least 5 million votes.
Lin said if the process went smoothly, he expected a referendum could be held in August next year, allowing time for review and making the necessary arrangements.
He said if the referendum questions got enough public support, Tsai would need to deal with the issue.
Tsai Ing-wen visits a military base in Tainan earlier this month. The pressure for constitutional change creates a dilemma for the president. Photo: AFP
Tsai’s Democratic Progressive Party government has been tight-lipped over the constitutional change issue, which Beijing sees as a move for the island to declare formal independence from the mainland.
Beijing considers Taiwan a wayward province that must be returned to the mainland fold, by force if necessary, and it has warned Tsai against declaring formal independence.
A DPP official said the foundation’s push would put Tsai in a difficult position.
“If she ignores the referendums, she will come under constant pressure from the hardline camp, and if she seriously considers taking action and instituting a new Taiwan constitution, she will risk a confrontation with Beijing, the consequence of which could be a cross-strait conflict,” said the official, who requested anonymity.
On Tuesday, Zhu Fenglian, a spokeswoman for the mainland’s Taiwan Affairs Office, warned the island against holding any referendum on constitutional revision, saying it would be doomed to end in an impasse and would ultimately fail.
“It will only push Taiwan towards an extremely dangerous abyss and bring disasters to Taiwanese compatriots,” she said.
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But according to Wang Kung-yi, a political science professor at Chinese Culture University in Taipei, Tsai should not be too worried about the hardline camp move.
“The hardline camp has been marginalised greatly in the past several years as reflected by the poor showing in the legislative elections in January,” Wang said, adding that he expected Tsai to continue her relatively moderate cross-strait policy of not sharply provoking the mainland.
BEIJING/SHANGHAI (Reuters) – China’s biggest listed banks posted higher profits in the first quarter despite the wider impact of the coronavirus pandemic on the economy, though margins shrank.
The world’s largest commercial lender Industrial and Commercial Bank of China Ltd (ICBC) (601398.SS)(1398.HK) on Tuesday reported a 3.04% rise in first quarter net profit compared to a year earlier, while Bank of Communications Co Ltd (BoCom) (601328.SS)(3328.HK) reported a 1.8% rise.
Meanwhile at Agricultural Bank of China Ltd (AgBank) (1288.HK)(601288.SS) and China Construction Bank Ltd (CCB) (601939.SS)(0939.HK), first quarter net profit rose 4.79% and 5% respectively from the same period last year.
Following suit, Bank of China Ltd (BOC) (601988.SS) (3988.HK) posted on Wednesday a 3.17% rise in first-quarter net profit.
The growth came despite China’s economy posting the first quarterly contraction since at least 1992 due to the coronavirus pandemic. The government restricted people from travelling and going back to work to contain the spread of the virus, reducing revenue for companies and income for residents.
China’s largest banks are historically more resilient than their smaller kin, as they lend more to state-backed enterprises and have larger capital reserves.
However, despite this firmer base, net interest margins shrank at four of the five lenders, as loan prime rate reform and looser monetary policy weighed, said analysts.
AgBank did not report its net interest margin, the difference between what banks pay on deposits and earn on loans.
SOURED DEBT
ICBC, AgBank and CCB bucked the trend of the wider banking sector by posting steady non-performing loan (NPL) ratios.
The banking sector’s NPL ratio climbed in the first quarter to 2.04%, the banking and insurance regulator said, the highest level since the global financial crisis.
The rise came despite Chinese regulators moving to give banks leeway, allowing them to postpone some loan repayments until the end of June, as credit card and mortgage defaults surged.
About one-third of Chinese bank loans are to sectors including transport and retail that are significantly stressed by the pandemic, according to S&P Global.
“You can see generally from banks’ results that some lenders have reported falling asset quality, the NPL ratios have risen quite a lot,” said Richard Cao, an analyst at Guotai Junan International on Monday.
The largest banks are best placed to absorb such losses with a better ability to get financing and withstand a substantial volume of bad loans, S&P said in a research note in April.
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