China: Daily Scan, October 22, 2021
Kota Mallikarjuna Gupta, Research Associate, VIF
China vows closer ties with Pacific Island countries says, FM: Xinhuanet
October 22, 2021

Chinese State Councilor and Foreign Minister Wang Yi said on Thursday that China is willing to work with Pacific Island countries for a closer comprehensive strategic partnership. Wang made the remarks while chairing the first China-Pacific Island Countries Foreign Ministers' Meeting via video link. Click here to read...

Oaths by 16 HKSAR district council members announced invalid: People’s Daily
October 21, 2021

The Hong Kong Special Administrative Region (HKSAR) government on Thursday announced that oaths taken by 16 District Council (DC) members on Oct. 8 were invalid. The HKSAR government held the oath-taking ceremony for DC members from the Tsuen Wan District Council, the Tuen Mun District Council, the Yuen Long District Council, the Kwai Tsing District Council and the Islands District Council at North Point Community Hall on Oct. 8. Click here to read...

Ex-vice minister of culture stands trial for bribery charges: People’s Daily
October 22, 2021

Li Jinzao, former vice culture and tourism minister of China, on Thursday appeared in court for charges of accepting bribes while holding various positions from 1996 to 2020. The first trial of Li's case was held at the Intermediate People's Court of Shenyang City, northeast China's Liaoning Province. Click here to read...

China issues guideline on green development in urban, rural areas: China Daily
October 22, 2021

The general offices of the Communist Party of China Central Committee and the State Council have issued a guideline underpinning green development in urban and rural areas. The guideline sets a target that by 2025 the institutional mechanisms and policy systems for green development in urban and rural areas will be basically established. Click here to read...

Over 9,000 candidates compete for position in Xizang border town postal dept: Global Times
October 22, 2021

More than 9,000 candidates have signed up for a position in the postal department in Ali prefecture, Southwest China’s Xizang Autonomous Region in the upcoming national civil servant examination, making it the current hottest ticket in the governmental official selection process. Click here to read...

Chinese mainland, HK deepen cooperation in fintech regulation, yuan market: Global Times
October 22, 2021

The People's Bank of China (PBC), the central bank, and the Hong Kong Monetary Authority (HKMA) have signed a memorandum of understanding (MoU) on regulatory cooperation in fintech innovation, under which fintech supervision tools of the PBC and HKMA will be connected, according to a statement issued by the PBC on Thursday. Also on Thursday, Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR), vowed that the city will further boost the offshore yuan market and promote the internationalization of the yuan. Click here to read...

Chinese scientists build anti-satellite weapon that can cause explosion inside exhaust: South China Morning Post
October 22, 2021

A team of Chinese military researchers say they have built and tested an anti-satellite robotic device that can place a small pack of explosives into a probe’s exhaust nozzle.

Rather than blowing the satellite into pieces, the melt-cast explosive can produce a “time-controlled, steady explosion”, Professor Sun Yunzhong and colleagues from the Hunan Defence Industry Polytechnic in Xiangtan wrote in a paper published in the domestic journal Electronic Technology & Software Engineering last month. The device could stay inside the satellite for an extended period by using a locking mechanism driven by an electric motor. If needed, the process can be reversed to separate it from the target. Click here to read...

China to pursue digital trade expansion under new five-year plan as cross-border data flow restrictions remain in place: South China Morning Post
October 21, 2021

China is seeking to step up development of digital trade, a segment that is shaping into an integral part of the economy, amid questions that this effort might be impeded by the country’s restrictions on cross-border data flows. That plan was set out by the Ministry of Commerce (Mofcom) under its 14th five-year plan for trade in services, which was published on Tuesday. The agency pledged to support the trade of digital products, to foster a good environment for digital products to go overseas, and to explore the trading of data. It will also push for traditional trade in services to digitalise. Click here to read...

Huawei, SMIC suppliers received billions worth of licenses for U.S. goods: Reuters
October 22, 2021

Suppliers to Chinese telecoms giant Huawei and China's top chipmaker SMIC got billions of dollars worth of licenses from November through April to sell them goods and technology despite their being on a U.S. trade blacklist, documents released by Congress showed on Thursday. According to the documents, first obtained by Reuters, 113 export licenses worth $61 billion were approved for suppliers to ship products to Huawei while another 188 licenses valued at nearly $42 billion were greenlighted for Semiconductor Manufacturing International Corp (SMIC). Click here to read...

China's Ping An Bank says its overdue loans rise on Baoneng liquidity crunch: Reuters
October 22, 2021

China's Ping An Bank Co Ltd said its "special-mention" and overdue loans increased in the third quarter mainly due to a liquidity crunch at Shenzhen Baoneng, a property and financial services conglomerate. Ping An Bank's outstanding special-mention loans - debts that could potentially turn sour - rose by 37.3% in the third quarter from the end of 2020, while outstanding loans and interests overdue within 90 days increased 32.5%, according to the bank's earnings report released on Wednesday. Click here to read...

Contact Us