24/04/2020
- The new bridge, which can bear 40 tons of weight, was built in Arunachal Pradesh in India’s remote northeast, a region claimed by China
- Relations are already strained after China accused India of blocking its companies by tightening laws for foreign investment
An Indian girl poses for photographs with an Indian flag at the Indo-China border in Arunachal Pradesh. Photo: AP
has opened a new all-weather access point in a disputed part of its border with China to enable faster movement of troops and artillery, another potential irritant in
.
The new bridge, which can bear 40 tons of weight, was built in Arunachal Pradesh in India’s remote northeast, a region claimed by China that is near the scene of previous clashes. Border intrusions have risen 50 per cent in 2019 compared to the previous year, people with knowledge of the matter said.
“That part of the border has always had a tendency to friction point between India and China. Lack of reliable and all weather connectivity was vulnerability,” said Nitin Gokhale, a New Delhi-based strategic affairs expert. “The new bridge and improved road overcomes that and ensures uninterrupted supply to troops.”
A Chinese soldier stands guard while Indian soldiers work near their shared border. Photo: AP
The new access along the border with China comes amid heightened tensions between the two nations after Beijing accused India of blocking its companies in the South Asian nation after New Delhi tightened laws for foreign investment. The bridge is located in a region that witnessed a months-long military stand-off in 2017 over the Doklam plateau, claimed by China and Bhutan, India’s ally. It was one of the most serious flare-ups since China won a border war with India in 1962.
China’s Ministry of Foreign Affairs did not respond to a message requesting comment.
India claims the Chinese army violated the 3,488km-long undemarcated border, parts of which are disputed, more than 600 times, the people said, asking not to be identified as the matter is not public.
“India and China have different perceptions of the border,” Indian Army spokesman Aman Anand said on Thursday. “Perceived transgressions are result of the perceived boundary.”
Under
Prime Minister Narendra Modi, India is ramping up its infrastructure along the border, which it says isn’t aimed at any particular country, but rather the development of remote border areas. It has completed 74 strategic roads along the eastern border, with plans afoot to finish 20 more by next year, the people said. It will reduce time taken to move and material by half and help 431 villages that lie across the region during the Covid-19 outbreak.
by making it mandatory for companies from countries that share a land border to acquire local firms only after seeking an approval from the government. The move, which cuts the risk of opportunistic takeovers as the coronavirus outbreak drives down valuations of Indian companies, had so far applied only to FDI from Bangladesh and Pakistan. India shares its land border with seven countries, including China.
The new bridge opened by the India also strides one of the main access routes of the Chinese Army into India from Tibet.
Source: SCMP
Posted in Arunachal Pradesh, border, Bridge, China, Chinese army, dispute, Doklam platea, Himalayas, India’s, Indo-China, Infrastructure, Ministry of Foreign Affairs, new, New Delhi, potentially, Prime Minister Narendra Modi, reignite, Tibet, Uncategorized |
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23/04/2020
BEIJING, April 23 (Xinhua) — China decided to donate another 30 million U.S. dollars to the World Health Organization (WHO) in support of global efforts to fight COVID-19 and the construction of public health systems in developing countries, a Foreign Ministry spokesperson said here Thursday.
Spokesperson Geng Shuang told a news briefing that the WHO, led by Director-General Tedros Adhanom Ghebreyesus, had actively fulfilled its duties with objective, science-based and fair position and played an important role in assisting countries in responding to the outbreak and boosting international cooperation on COVID-19.
Geng said to support the WHO is to defend the principles of multilateralism and safeguard the status and authority of the United Nations at a crucial time of the battle against the pandemic, adding that the virus is the common enemy of humankind, and the international community can only defeat it through unity and cooperation.
In March, China donated 20 million dollars to the WHO to support the global fight against COVID-19.
The spokesperson said China’s donations to the WHO reflected the support and trust of the Chinese government and people in the organization, and China also made its own contributions to global public health and the fight against the pandemic.
“China will continue to stand in solidarity and render mutual assistance with other countries to jointly overcome the pandemic, safeguard regional and global public health and build a community with a shared future for mankind,” he said.
Surce: Xinhua
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23/04/2020
BEIJING, April 23 (Xinhua) — Traditional Chinese medicine (TCM) has played an effective role in treating COVID-19 patients in Wuhan, the central China city hit hard by the epidemic, a medical expert said Thursday.
The first batch of TCM doctors who were sent to Wuhan for assistance had combined TCM and Western medicines to cure 132 patients, successfully reducing the mortality rate and the use of hormone treatment compared with other wards, said Qi Wensheng, a doctor with Guang’anmen Hospital in Beijing under the China Academy of Chinese Medical Sciences, at a press conference.
Some patients hospitalized at the Wuhan Jinyintan Hospital voluntarily asked for TCM treatment after becoming familiar with it, said Qi.
TCM has different emphases for the early-, middle- and late-stage treatment of COVID-19 patients. Its syndrome differentiation stresses adjusting treatment as patients’ conditions change, Qi said.
He also stressed the importance of regulating emotions and avoiding negative emotions such as anxiety and nervousness for healthy people, as the fluctuation of mental conditions may affect immunity.
In addition, a balanced diet is also important, according to Qi.
Source: Xinhua
Posted in central China city, China Academy of Chinese Medical Sciences, COVID-19 patients, effective role, epidemic, Guang'anmen Hospital, played, traditional Chinese medicine (TCM), treating, Uncategorized, Western medicines, Wuhan, Wuhan Jinyintan Hospital |
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23/04/2020
- Travel restrictions and continued uncertainty about when campuses will reopen has reduced enrolments from America’s biggest group of international students
- Demand was already softening due to worsening US-China relations before Covid-19 pandemic struck
The coronavirus is making many Chinese youngsters think twice about pursuing a higher education in the US. Photo: Xinhua
The
Covid-19 pandemic has upended the appetite for prestigious US degrees among Chinese students, jeopardising US$15 billion in revenue for American colleges.
The disease – which has spread to more than 185 countries, infected more than 2.6 million people and claimed more than 180,000 lives worldwide – has caused unprecedented disruption. Borders are closed and travel has been significantly limited to contain the spread.
For American schools, it has meant reduced Chinese demand for higher education in the 2020-21 academic year, according to a Congressional report into the cascading economic impacts of the pandemic published on Tuesday by the US China Economic and Security Review Commission.
The report identified a host of issues, from delays or cancellations of US entrance exams in China, through to indefinite travel restrictions and continued uncertainty about when US college campuses will reopen. The consequences could be severe, with nearly a third of all tuition payments to US public universities coming from international students.
Amid outbreak, universities contend with dependence on Chinese students
China has remained the largest source of international students for the US in the past decade, with 369,548 Chinese students enrolled in US higher education programmes in 2018, more than three times the count from nine years earlier, according to the Institute of International Education. The group together contributed US$15 billion in tuition payments.
University administrators told the authors of the report that cancelled recruitment events in China and an inability to work with local recruitment agencies could further depress Chinese student enrolment in US university programmes.
The blow will be severe as international students typically pay full tuition, with only 17 per cent receiving grants or scholarships from their institution, according to a report published by World Education News & Reviews in December.
Wuhan, Los Angeles officials talk about getting back to work after lockdown
The sudden decrease in enrolments added to a softening trend in Chinese student numbers in recent years as US-China relations have become more hostile. Tensions between China and the US over tariffs and trade disputes put more strain on academic exchanges between the two countries.
Before the coronavirus disrupted international travel and school terms,
US schools had already seen a decline in enrolments from Chinese students. Last June, Beijing warned its students about the risks of studying in the US and China’s education ministry said some were encountering problems with the duration of their visas limited and an increase in visa refusals.
“This has affected Chinese students going to study in the United States or smoothly completing their studies,” it said.
“The education ministry reminds students and academics of the need to strengthen risk assessment before studying abroad, enhance prevention awareness and make corresponding preparations.”
Chinese students battle rising tide of prejudice in US
Chinese students and scholars have attracted scrutiny from the Trump administration, with claims some could be helping Beijing to obtain trade and technological secrets. US lawmakers are also concerned about China’s growing ambition through effort to influence through its own narratives globally.
, for example, which are based on college campuses and funded by Beijing to promote Chinese language and culture, have been investigated over espionage allegations. Two dozen US schools closed the cultural centres on their campuses in the past two years. The most recent closure, in January, was also the oldest Confucius Institute in the country – at the University of Maryland – which had been operating since 1985.
Tuesday’s report said that as well as the decline in Chinese enrolments, tourism from China would also suffer. Together, higher education and tourism make up the US’ top services exports to China, which will lead to a narrowing in its services trade surplus with China, it said.
Source: SCMP
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23/04/2020
SHENYANG, April 23 (Xinhua) — With trucks standing bumper to bumper and large cranes loading containers on the train, work returned to normal at a logistics base in northeast China’s Liaoning Province.
The base, where the China-Europe freight trains are set to depart in Shenyang, the provincial capital, has seen stable departures since early April as the novel coronavirus epidemic ebbs away.
With the global supply chain being affected by restrictions in air, land, and port travel due to the global pandemic, China-Europe railway has been playing a more important role, experts say.
“The train was operated by staff in different sections, which means it does not require cross-border personnel health inspections, giving it advantages during the pandemic,” said Shan Jing, an industry insider who wrote a book on China-Europe freight trains.
In March, a total of 809 China-Europe freight trains carrying 73,000 containers were sent across China. Both numbers hit a monthly record.
At the Shenyang logistics base, trains depart to travel through Russia, Belarus, Poland and finally reach Germany in around 18 days. As of April 13, a total of 130 trains carrying 11,200 standard containers had departed from the base.
“The province sends a stable number of five trains each week,” said He Ruofan, a business manager with the Shenyang branch of China Railway Container Transport Corp., Ltd, operator of the trains.
The stable operation has made the route a top choice for many Chinese enterprises, said Yao Xiang, a manager with logistics group Sinotrans’s northeast company.
“Many shipping routes have been canceled, and the rest are more and more expensive amid the epidemic,” said Yao, noting the price for air cargo surged 5 to 10 times the normal price as flights decreased from China to Europe.
With increasing departing trains, returning trains on the route have also been increasing, Yao said.
Among the 130 trains that have been sent from the Shenyang base so far this year, 33 returned, carrying construction materials, car parts, mechanical equipment, and daily products.
“These goods provide supplies to large companies like BMW and Michelin’s Shenyang factories,” Yao said.
Medical supplies have also been sent to hard-hit Europe to fight against the coronavirus pandemic.
As of April 18, a total of 448,000 pieces of medical supplies weighing 1,440 tonnes had been sent to European countries via the route, according to China State Railway Group Company, Ltd.
“China-Europe freight trains have shown great service capabilities during the epidemic,” said Shan, the industry insider. “It serves as a new choice for European enterprises, and I believe more people will come to realize the importance of the route.”
Source: Xinhua
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23/04/2020
Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, visits Xi’an Jiaotong University in Xi’an, capital of northwest China’s Shaanxi Province, April 22, 2020. Xi on Wednesday inspected the city of Xi’an during his trip to northwest China’s Shaanxi Province. (Xinhua/Ju Peng)
XI’AN, April 23 (Xinhua) — Xi Jinping, general secretary of the Communist Party of China Central Committee, on Wednesday visited an exhibition on the relocation of Jiaotong University from Shanghai to Xi’an and its development and achievements at the Xi’an Jiaotong University museum.
He met with 14 professors, who had been relocated along with the university decades ago
Source: Xinhua
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23/04/2020
- Test in Xiong’an, the new city being built south of Beijing, will focus on everyday goods and services for the first time
- American food outlets to be included in the digital currency tests, conducting small transactions with local firms
American chains Starbucks, McDonald’s and Subway were named on the People’s Bank of China’s list of firms that will test the digital currency in small transactions with 19 local businesses. Photo: Bloomberg
China’s central bank has accelerated the testing of its new sovereign digital currency and, for the first time, will include some foreign consumer brands in the programme.
American chains Starbucks, McDonald’s and Subway were named on the People’s Bank of China (PBOC)’s list of firms that will test the
digital currency in small transactions with 19 local businesses.
The global names will be joined by local hotels, convenience stores, a stuffed bun shop, a bakery, a bookstore and a gym, according to details revealed at a promotional event in the Xiong’an New Area, a city being built south of Beijing, news portal Sina.com reported.
The inclusion of businesses providing everyday goods and services marks an expansion of the PBOC’s testing. It follows a previous disclosure that last week in Suzhou the digital currency was used to pay half public sector workers’ travel subsidies for May.
Is China a currency manipulator?
Wednesday’s promotional event was organised by the local branch of the National Development and Reform Commission, the powerful planning agency, and attended by representatives of the Big Four state-owned banks and two of the country’s internet giants – Alibaba and Tencent.
China has not released a timetable for launching the digital yuan, but last week’s reports on new testing have fanned speculation that it could be imminent.
The tests were reportedly accelerated after Facebook launched its Libra project in June last year, an attempt to create a
global digital currency pegged to a basket of currencies and backed by global commercial giants.
The Libra Association, the consortium managing the project, announced changes last week in an attempt to win regulatory approval and pave the way for an official launch sometime later this year. The consortium said it would create multiple digital units tied to existing currencies such as the US dollar or the euro, rather than a single token based on a basket of currencies.
China’s official digital currency, known as Digital Currency Electronic Payment (DCEP), came into the public spotlight last week
when a screenshot of a test version of an app developed by the Agricultural Bank of China circulated online.
The digital currency app has several basic functions, similarly to other Chinese online payment platforms such as Alipay and WeChat Pay – the country’s two most popular online payment tools – allowing users to make and receive payments, and transfer money.
“It’s certain that the DCEP is now in its final testing stage and should be officially launched,” BlockVC, an investment firm, said in a research note.
The PBOC’s digital currency research institute confirmed last Friday that testing was being conducted in four cities: Shenzhen, Suzhou, Xiong’an and Chengdu. In addition, venues for the 2022 Winter Olympics in Beijing and Zhangjiakou will join the testing programme in the future.
What is the Hong Kong Dollar Peg?
The institute, which was inaugurated in 2017, said that the test versions and applications of the currency had not been finalised.
The project testing is based on two principles: the central bank issues the virtual money to commercial banks who then pass it on to consumers, and that is aimed at replacing cash in all transactions.
China is the first major economy to publicly announce plans for a sovereign digital currency, aiming to better control the rapid rise of digital payments worldwide.
The PBOC has, however, cracked down on the trading of other digital currencies and banned banks from accepting cryptocurrencies, which it views as a risk to financial stability.
Source: SCMP
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23/04/2020
(Reuters) – Consumer goods giant Unilever Plc (ULVR.L) (UNA.AS) withdrew its full-year forecast on Thursday, saying the hit from lockdowns in China and India, as well as lower ice cream sales, offset strong U.S. and European sales of cleaning items, sending its shares down 5%.
Underlying sales across Asia, the Middle East and Russia, fell 3.7%, as lockdowns in the quarter restricted restaurant visits and shopping in China and led to factory shutdowns that halted production in India.
In Europe, Turkey and Latin America, Unilever’s 3 billion euro ice cream business was hit by national efforts to prevent the spread of the coronavirus, deterring distributors in holiday destinations from buying stock.
“Many of our classic out-of-home retailers like leisure sites, travel hubs, beaches and tourist destinations were closed,” Chief Financial Officer Graeme Pitkethly said on a call.
These factors countered increased sales in the United States and Europe, where consumers stocked up on laundry detergents, Domestos bleach, Cif cleaning products and personal hygiene items, as the virus spread to those regions.
Overall, first-quarter turnover rose 0.2% to 12.40 billion euros ($13.42 billion), slightly missing the estimate of 12.77 billion euros based on analysts polled by Factset.
The company withdrew its sales performance targets for the year, which forecast growth at the lower end of a 3%-5% range, saying it could not “reliably assess the impact” of the virus, , although it said it would still pay its interim dividend.
Jefferies analysts said investors would be asking why Unilever “has apparently been hit so badly, and early, by the negative impacts of COVID-19 without seeing much of the positives. We expect a difficult day for the shares.”
Shares in Unilever, which joins spirits maker Diageo (DGE.L) and other consumer goods companies in withdrawing guidance, was down 5.5% at 4,008 pence in early trading.
The Anglo-Dutch company’s report follows results from larger U.S. rival Procter & Gamble (PG.N), which last week said its U.S. sales had seen their biggest rise in decades.
Unilever also said underlying sales grew strongly in North America, rising 4.8% as shoppers stocked up on personal hygiene products, Knorr soups and Hellmann’s dressings.
In Europe, sales growth was led by Germany and Britain, although prices across the region fell.
“We are adapting to new demand patterns and are preparing for lasting changes in consumer behaviour, in each country, as we move out of the crisis and into recovery,” Unilever Chief Executive Alan Jope said in a statement.
The company said it was directing a chunk of its 500 million euro package to support suppliers towards its ice cream distribution partners, which Pitkethly called the “jewel” in its supplier relationships.
Source: Reuters
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23/04/2020
BENGALURU (Reuters) – The Indian economy is likely to suffer its worst quarter since the mid-1990s, hit by the ongoing lockdown imposed to stem the spread of coronavirus, according to a Reuters poll, which predicted a mild and gradual recovery.
Over 2.6 million people tmsnrt.rs/3aIRuz7 have been infected by the coronavirus worldwide and more than 180,000 have died. Business and household lockdowns have disrupted supply chains globally, bringing growth to a halt.
The April 17-22 Reuters poll predicted the economy expanded at an annual pace of 3.0% last quarter but will shrink 5.2% in the three months ending in June, far weaker than expectations in a poll published last month for 4.0% and 2.0% growth, respectively.
The predicted contraction would be the first – under any gross domestic product calculation, which has changed a few times – since the mid-1990s, when official reporting for quarterly data began.
“The extended lockdown until early May adds further downside risk to our view of a 5% year-on-year GDP fall in the current quarter, the worst in the last few decades,” said Prakash Sakpal, Asia economist at ING.
“We don’t consider economic stimulus as strong enough to position the economy for a speedy recovery once the pandemic ends,” he said.
(Graphic: Reuters poll graphic on coronavirus impact on the Indian economy IMAGE link: here)
The Indian government announced a spending package of 1.7 trillion rupees in March to cushion the economy from the initial lockdown, which has been extended until May 3.
In an emergency meeting last week, the Reserve Bank of India cut its deposit rate again, after reducing it on March 27 and lowering the main policy rate by 75 basis points. It also announced another round of targeted long-term repo operations to ease liquidity.
But even with those measures, 40% of economists, or 13 of 32 – who provided quarterly figures – predicted an outright recession this year. Only one had expected a recession last month.
In the worst case, a smaller sample of respondents predicted, the economy would contract 9.3% in the current quarter. That compares with 0.5% growth in the previous poll’s worst-case forecast in late March, underscoring how rapidly the outlook has deteriorated.
The latest poll’s consensus view still shows the economy recovering again slowly in the July-September quarter, growing 0.8%, then 4.2% in October-December and 6.0% in the final quarter of the fiscal year, in early 2021.
But that compares with considerably more optimistic near-term forecasts of 3.3%, 5.0% and 5.6%, respectively, in the previous poll.
“A rebound in economic activity following the disruption is expected, but the low starting point of growth implies a gradual recovery,” said Upasana Chachra, chief India economist at Morgan Stanley.
“Indeed, before disruptions related to COVID-19, growth was slowing, with domestic issues of risk aversion in financial sector … (and) those concerns will likely stay after the COVID-19 disruptions have passed unless the policy response is much larger than expected,” she said.
The unemployment rate has tripled to 23.8% since the lockdown started on March 25, according to the Centre for Monitoring Indian Economy, a Mumbai-based research firm.
The Indian economy was now forecast to expand 1.5% in the fiscal year ending on March 31, 2021 – the weakest since 1991 and significantly lower than 3.6% predicted in late March. It probably grew 4.6% in the fiscal year that just ended.
Under a worst-case scenario, the median showed the economy shrinking 1.0% this fiscal year. That would be the first officially reported economic contraction for a 12-month period since GDP was reported to have contracted for calendar year 1979.
“Unless fiscal policy is also loosened aggressively alongside monetary policy, there is a big risk the drastic economic slowdown currently underway morphs into an annual contraction in output and that the recovery is hampered,” said Shilan Shah, senior India economist at Capital Economics.
All 37 economists who answered a separate question unanimously said the RBI would follow up with more easing, including lowering the repo and reverse repo rates and expanding the new long-term loans programme.
The RBI was expected to cut its repo rate by another 40 basis points to 4.00% by the end of this quarter. Already lowered twice over the past month by a cumulative 115 basis points, the reverse repo rate was forecast to be trimmed by another 25 points by end-June to 3.50%.
Source: Reuters
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23/04/2020
BEIJING (Reuters) – China will cut its subsidies on new energy vehicles (NEV) by 10% this year, and will expand government purchases of NEVs, the finance ministry said on Thursday.
China will in principle cut such subsidies by 20% in 2021 and 30% in 2022, the finance ministry said in a statement. However, it will not cut subsidies on qualified new energy commercial vehicles earmarked for public purposes this year.
Under the plan, China would extend subsidies for NEV purchases to 2022, rather than ending them this year, and extend their purchase tax exemption for two years.
China will slightly lift the requirements for the driving range and power efficiency of cars qualified for the subsidies, the statement said, adding authorities will support the sales of cars with swappable batteries, a technology that has been pursued by Chinese electric vehicle makers Nio Inc (NIO.N) and BAIC BluePark (600733.SS).
Only passenger cars cheaper than 300,000 yuan (34,330.23 pounds) will be offered subsidies, it said. The price is higher than starting price of Tesla Inc’s (TSLA.O) China-made Model 3 sedans.
China also said authorities will give priority to purchase new energy vehicles for government use but did not give further details.
The new policy is effective from April 23. NEVs include battery-powered electric, plug-in hybrid and hydrogen fuel-cell vehicles.
China has set an aggressive goal for NEVs to account for a fifth of auto sales by 2025 compared with the current 5%, as it seeks to reduce pollution and cultivate homegrown champions.
Sales of NEVs, however, contracted for a ninth month in a row in March and were down over 50% from a year earlier, according to data from the China Association of Automobile Manufacturers (CAAM).
Source: Reuters
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CHINDIA ALERT: You'll be living in their world, very soon 
