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China, Russia agree to advance sub-national cooperation

Chinese President Xi Jinping and his Russian counterpart, Vladimir Putin, on Tuesday called for promoting sub-national cooperation to cement bilateral relations and benefit the two peoples.

The two heads of state made the remarks while attending a roundtable meeting on regional cooperation between the two countries on the side-lines of the fourth Eastern Economic Forum (EEF), which is running from Tuesday to Thursday in Vladivostok in Russia’s Far East.

Noting that China and Russia are each other’s biggest neighbouring country and most important comprehensive strategic partner of coordination with extensive common interests, Xi said it is conducive to jointly addressing external risks and challenges and boosting common development and revitalization for the two sides to strengthen cooperation and deepen the integration of their interests.

Sub-national cooperation plays an important part in bilateral relations, and cooperation plans between the two countries should rely on their local regions, be implemented in local regions and benefit local regions, Xi said, stressing that the closer the sub-national cooperation is, the more solid the foundation of the China-Russia mutually beneficial cooperation will become.

For future cooperation at sub-national levels, the Chinese president proposed that local governments should strengthen overall planning and coordination, optimize policies, forge more partnerships, and create a better business environment and more convenient conditions for the companies of the two countries to invest in each other’s regions.

He called for innovating the ideas for cooperation, expanding the areas for cooperation, better using the platforms and mechanisms for cooperation, and exploring new ways to advance regional cooperation.

Xi also asked local governments to give full play to their complementary advantages and their distinctive sectors, push for more precise ways of cooperation, and create highlights in cooperation.

In addition, he called for increasing people-to-people and cultural exchanges, cementing the mainstream public opinion and social foundation for cooperation, and promoting institutionalized and regular exchanges in culture, tourism, education and media at sub-national levels.

Xi said that it is the right time for the two countries to strengthen regional cooperation as he and Putin had agreed to designate 2018 and 2019 as the years of China-Russia local cooperation and exchange.

The governments of the two countries will support their local regions in making the pie of cooperation bigger and sharing the fruits of cooperation, Xi said, while expressing the hope that the representatives of Chinese and Russian regional governments at the roundtable can grasp the opportunity to usher in a new era in China-Russia sub-national cooperation and contribute more to bilateral relations.

Pointing out that sub-national cooperation is an important part of the Russia-China comprehensive strategic partnership of coordination, Putin said he is delighted that the local regions of the two countries have carried out close economic and trade cooperation as well as people-to-people and cultural exchanges.

The Russian government welcomes Chinese businesses to invest in the country and is willing to continue to offer favourable conditions to strengthen sub-national cooperation between the two countries, he said.

Under new circumstances, Russia and China should improve connectivity, promote trade and investment liberalization and facilitation, deepen friendship between the two peoples, and push for more results from sub-national cooperation that can benefit the two peoples, Putin said.

The heads of nine Chinese provincial-level regions and 13 Russian federal subjects took part in the roundtable meeting.

Xi arrived in the port city of Vladivostok on Tuesday to attend the EEF. He will address the plenary session, the main event of the forum, on Wednesday.

The EEF was launched in 2015 on the personal initiative of Putin. Xi’s attendance will be the first by a Chinese head of state at the forum.

After attending the roundtable meeting, the two heads of state visited “The Far East Street” exhibition showcasing the rich local cultural exchanges between the two countries and investment opportunities in Russia’s Far East regions.

 

Ministry of Foreign Affairs of the People’s Republic of China

China’s project of the century

Dubbed the ‘the project of the century’ by China’s president, Xi Jinping the belt and road initiative has received a lot of criticism. There have been questions of who is going to finance the 21st century recreation of the old silk road is estimated to cost 1.3 trillion dollars and whether China is going to dominate.  With already several countries signed, the project is said to promote economic integration and better global trade.

President Xi has referred to the project as the rebirth and reclaimed of China’s power in the world. According to Bloomberg the modern silk road was designed to question US dominance in the world, especially with current China- US relations and the trade war. Head of Bancassurance for Asia Pacific, Jin Lee Chubb says that “China is not to dominate in this initiative” and China will fund the project.

 

Source: Bloomberg

FOCAC Summit Outcomes

China President, Xi Jinping called a press meeting on Tuesday. Xi together with African leaders attending the Summit in the country’s capital, Beijing announced that the 2018 FOCAC Summit has come to a successful conclusion.

Here are the FOCAC Summit outcomes:

The summit issued the Beijing Declaration — Toward an Even Stronger China-Africa Community with a Shared Future, which crystalized consensus of China and Africa on current major international and regional issues and sent the world a strong signal of the two sides going forward hand in hand, Xi said.

The FOCAC Beijing Action Plan (2019-2021) was also adopted at the summit to confirm that China and Africa will comprehensively enhance pragmatic cooperation focusing on the implementation of the eight major initiatives, Xi said.

All FOCAC members agreed to jointly build a China-Africa community with a shared future that assumes joint responsibility, pursues win-win cooperation, delivers happiness for all, enjoys common cultural prosperity, ensures common security, and promotes harmony between man and nature, which will set a model for the building of a community with a shared future for humanity, Xi said.

All FOCAC members agreed that China-Africa relations have embarked on a distinctive path of win-win cooperation and are at their best in history, the Chinese President said.

China and African countries are willing to enhance the alignment of strategies and policy coordination, push forward the joint development of the Belt and Road, and closely align the Belt and Road Initiative with the African Union Agenda 2063, the United Nations 2030 Agenda for Sustainable Development and the development strategies of African countries, Xi said.

All FOCAC members agreed that China-Africa relations have demonstrated unprecedented cohesiveness, vitality, and creativity. China will continue to adhere to the principle of sincerity, real results, affinity and good faith, and uphold the values of friendship, justice, and shared interests, and push the in-depth, solid, steady and enduring development of the China-Africa comprehensive strategic and cooperative partnership, he said.

All FOCAC members also agreed that China-Africa cooperation is part of international cooperation with Africa. In conducting cooperation with Africa, all parties of the international community should respect African countries’ sovereignty, listen to Africa’s voice, take Africa’s stance seriously, and deliver on commitments made to the continent, Xi said.

The forum was established 18 years ago. The successful hosting of the Beijing Summit has brought China-Africa comprehensive strategic and cooperative partnership to a new historic starting point, and on a new journey, Xi said.

 

Source:  Ecns.cn

US-China trade war set to escalate

The world waits in anticipation as the 6 September approaches. On the date the public comment period on the United States’s  plans to impose tariffs on 6 000 products worth $200 billion worth of imports. The Trump administration will go on  with tariffs after the comment period.

Retaliation is expected from China, given Xi Jinxing “Made in China 2025” agenda. The tariffs might compromise China’s political posture. According to the Wire the tariffs might compromise issues such as market access and intellectual property issues.

Both countries had attempts to restart trade talks at the end of August, did no bare any results – the leaders did not agree.

Both China and the US have imposed 25% tariffs of 50 billion worth on each other’s imports thus far.

 

Source: The Wire

Trump allegedly wants to impose new tariffs on China

United States President Donald Trump wants to continue with the plan to impose tariffs on US$200 billion in Chinese imports. According to Bloomberg the tariffs are to be imposed as soon as the public comment period concludes, next week.

Members of the public and companies have until next week, 6 September to summit their comments on the proposed duties.  The duties cover everything from selfie-sticks to semiconductors. The US President plans to impose tariffs as soon as the comment period is over, according to six people who are familiar with the matter (anonymous) – Bloomberg.

Stocks dropped as soon as it was announced, the offshore Yuan dropped while the dollar and the Yen gained aimed flight to safety.

According to Bloomberg the US has so far imposed levies on US$50 billion in Chinese goods, with China retaliating.

 

 

Source: Bloomberg

Brazil and China talk trade and investments for 2018 & 2019

A Chinese delegation from the government visited Brazil’s Ministry of Industry, Foreign Trade and Services (MDIC) in Brazil on Monday. The delegation discussed issues relating to the two countries’ bilateral trade and investment agenda for 2018 & 2019.
The delegation met to discuss Brazil’s industry 4.0 agenda, investments and scheduling meetings for 2019, when Brazil will chair the BRICS bloc.

Industry 4.0 according to Macauhub is a term relating to technologies and concepts for organisation of the value chain. “Within the intelligent and modular manufacturing factories of industry 4.0 cyber physical systems (CPS) monitor processes, create a virtual copy of reality and make decentralized decision” says Macauhub.

Brazil in 2017 exported approximately US$47 billion to China and imported goods worth US$27 billion from China’s market, which resulted in a surplus of more than US$20 billion for Brazil.

Source: Macauhub

Xi Jinping to attend The Economic Forum in Russia

Russian President Vladimir Putin is expected to hold talks with his Chinese equivalent, Xi Jinping in the upcoming month. The meeting will take place during an Economic Forum in a city east of Russia, Vladivostok. Russia anticipates that this meeting held from 11 – 13 September will be attended by Asian leaders and companies.

According to PLENGLISH, an estimated 6,000 politicians, economists and business people will participate. The talks will be held under theme ‘Far East Expanding the Opportunities’ and will include talks between leaders of Russia, China, Japan, India and the Association of Southeast nations among others.

The meeting is also expected to cover discussions on investors, living conditions in the region and international cooperation projects.

Anton Kobiakov, secretary of the organising committee says that the event is of great significance for the nations taking part and it is expected to strengthen relations between the countries.

 

Source: PLENGLISH

US-China trade talks meeting

 

China and the United States are taking a step to ease trade war tensions. U.S. Treasury under Secretary David Malpass is set to meet Chinese counterpart Wang Shouwen in Washington this week, the first meeting between senior officials since June, when talks in Beijing between Commerce Secretary Wilbur Ross and Vice Premier Liu ended without a settlement.

Economists do not expect much from the meeting. The meeting is aimed at coming up with possible solutions for the tensions for the meeting of Chinese President Xi Jinping and U.S President Donald Trump.

This week’s discussions take place as the Trump administration imposes previously announced tariffs on a remaining $16 billion of $50 billion in Chinese goods. In another sign the U.S. isn’t about to relent, the U.S. Trade Representative (USTR) on Monday started a week-long session of planned hearing an additional $200 billion in tariffs proposed by President Donald Trump. More than 1,500 witnesses have submitted written testimony.

Source: Money Watch

“China and Africa: Towards an even stronger community within a shared future through Win-Win cooperation” – FOCAC

 

Eighteen years after its inception, the Forum on China-Africa cooperation (FOCAC) will be held in Beijing on 3 & 4 September, under the theme “China and Africa: towards an even stronger community within a shared future through win-win cooperation”.


Chinese President Xi Jinping said during the 10th BRICS Summit held in Johannesburg that FOCAC “aims to enhance complementarity between China-Africa joint efforts to pursue the Belt and Road Initiative (BRI), the 2030 Agenda on the one hand development strategies on the other”. Jinping is expected to chair the meeting and also hold related events.


The Belt and Road Initiative, dubbed the 21st century Silk Road is aimed at connecting Asia, Africa and Europe by generating more resources and means, expanding the market space for African development and broadening its development prospects. The Chinese flagship (BRI) helped accomplish the erection of a high-speed railway in Kenya last year – from Nairobi to the port city of Mombasa.


FOCAC currently has 55 members including the host nation China, 53 African countries, and the African Union Commission. China has been involved in the development of African countries and has been promoting cooperation with Africa through various means including infrastructure and development projects.


By: Kgothatso Nkanyane 

 

Putin praises solid ties with China

According to Russian President Vladimir Putin, China and Russia’s relationship has been developing in a positive, mutually beneficial direction, thanks to the efforts of both governments.

Putin met with Yang Jiechi, a member of the Political Bureau of the Communist Party of China Central Committee.

Putin stressed the importance of the bilateral relationship to both countries as well as to the world.

Jiechisays that 2018 marks a milestone for the development of Sino-Russian ties.

Putin and China’s President, Xi Jinping met twice this yearand exchanged guidelines to the direction of future bilateral relations.

The Chinese government plans to work together with Russia to convert the agreements made by the leaders.

Putin said the Russian government will continue to engage in strategic communication with China and closely cooperate on global and regional issues.

“I met President Xi Jinping last month. We exchanged opinions on our bilateral relations and on international issues during the BRICS Summit, and reached important new agreements,” Putin said.

In June, the two leaders met in Beijing during Putin’s state visit to China, during which Jinping described the Sino-Russian comprehensive strategic partnership of coordination as “mature, stable and solid”.

“I look forward to meeting with President Xi again,” Putin added.

Source:China Daily