Tang Yuanjun, 67, swam to a Taiwan-controlled island more than 20 years ago before being granted political asylum by the United States. He was charged on Wednesday with acting as an agent for the People’s Republic of China in the United States from 2018 to 2023, the justice department said in a statement. Tang completed […]
Defence Industry Minister Pat Conroy announced a deal to develop naval and air-launched Joint Strike Missiles (JSM) at a plant north of Sydney. The factory will break ground later this year, producing anti-ship cruise missiles and JSMs that can be fitted to state-of-the-art F-35A aircraft. “This is about investing in our advanced, high-tech manufacturing industry […]
According to the statement by China’s Ministry of Commerce and six other t ministries, citizens who scrap their old cars and acquire new ones would receive a larger subsidy of 20,000 yuan for new-energy vehicles (NEVs) and 15,000 yuan for gasoline vehicles. Before this, NEVs received subsidies of 10,000 yuan, while fuel-powered vehicles received 7,000 […]
China is battling soaring joblessness among young people, a heavily indebted property sector, and intensifying trade issues with the West. Chinese Premier Li Qiang, who is responsible for economic policy, on Friday, called for struggling companies to be “heard” and “their difficulties truly addressed”, according to the state news agency Xinhua. The unemployment rate among […]
Russian fuel oil and VGO seaborne exports last month rose 7% from June to about 4.05 million metric tons, helped by the completion of seasonal maintenance on Russian refineries. Russia’s offline primary oil refining capacity for July at 2.5 million tons was below June’s level by some 44%, according to calculations from industry sources. Since […]
Sales of so-called new energy vehicles (NEVs) jumped 37% last month from the same period a year earlier, accounting for a record 50.7% of car sales, data from the China Passenger Car Association (CPCA) showed. NEV sales accounted for just 7% of total vehicle sales in China three years ago, but its heavy investments in […]
Bilateral payment delays were high on the agenda when President Vladimir Putin visited China in May and although workarounds have emerged, such as using small, regional Chinese banks whose activities are harder for Washington to detect, payment issues remain. Barter trading would allow Moscow and Beijing to circumvent payment issues, reduce the visibility Western regulators […]
Pakistan last month reached a staff-level agreement with the IMF for a new $7 billion loan program. However, the South Asian nation reportedly needed financing commitments from bilateral donors to get a final nod from the IMF board for a fresh bailout. “Pakistan has secured commitments from China, Saudi Arabia, and the United Arab Emirates […]
According to China’s General Administration of Customs, overseas shipments expanded by 7.0 percent in the last month. That compares with the 8.6 percent increase recorded the month before and short of the 9.5 percent forecast in a Bloomberg survey of analysts. Beijing is seeking to achieve annual national growth of around five percent this year, […]
Pakistan has received five bids from Chinese firms to assist with raising funds through Panda bonds, according to a Bloomberg report. This development represents a significant step for Pakistan in exploring new funding avenues. Panda bonds are debt securities issued by foreign entities in the Chinese capital markets. They are denominated in Chinese yuan (RMB). […]
