China aims to address ‘debt trap’ criticism at second Belt and Road Forum

China is working to address a mounting concern that its ambitious infrastructure drive creates debt traps for participating countries, according to people involved in the drafting of a joint communique to be considered by world leaders at a forum on the initiative in Beijing this week.President Xi Jinping’s multibillion-dollar “Belt and Road Initiative”, which aims to link China with Asia and Europe through ports, roads, airports, pipelines and other infrastructure projects, also has raised…
Source: SCMP – China

From new faces to new funds, what has changed in the belt and road show?

There have been plenty of highs and lows in the six years since China launched its “Belt and Road Initiative”, but as the second Belt and Road Forum gets under way in Beijing, President Xi Jinping’s grand plan to boost global trade and enhance regional connectivity has never been under more scrutiny.The three-day event, which opens on Thursday, is the diplomatic highlight of the year for China, with the leaders of about 40 foreign governments and 5,000 foreign representatives from 150 countries…
Source: SCMP – China

Widow of Mao Zedong’s secretary Li Rui sues in Chinese court to demand return of diaries from Stanford University

The widow of Mao Zedong’s personal secretary has filed a lawsuit to prevent the publication of his diaries, which are held in a US university and could shed invaluable light on the inner workings of the Communist Party.Li Rui, who joined the Chinese Communist Party in the late 1930s and died aged 101 in Beijing in February, not only witnessed the party’s inner circle in Mao’s day, but was later put in charge of the Central Organisation Department, the party’s personnel agency, in the 1980s…
Source: SCMP – China

Showered with cash and gifts: veteran US State Department official Candace Claiborne pleads guilty to conspiring with Chinese intelligence agents

A veteran US State Department office manager pleaded guilty on Wednesday to hiding extensive contacts with two Chinese intelligence agents who showered her with tens of thousands of dollars in gifts as they asked for diplomatic and economic information.Candace Claiborne, 63, pleaded guilty to reduced charges of one count of conspiring to defraud the United States by repeatedly covering up foreign intelligence contacts over more than five years. She was required to report such contacts because…
Source: SCMP – China

The Chinese state-owned tech company helping to keep the heart of Western capitalism beating

As the row over Chinese technology giant Huawei’s role in fifth-generation (5G) networks rumbles on, some financial telecoms networks in the United States and Europe regarded as critical to economic stability and national security are using hardware, patented technology and software codes created by a company controlled by the Chinese government.Shenzhen-listed Accelink Technologies Corporation, a company based in Wuhan, Hubei province, was formerly the Ministry of Posts and Telecommunications’…
Source: SCMP – China

Business leaders across Asia like Beijing’s Belt and Road vision. But China’s rising influence is giving some the jitters

Business leaders across Asia recently surveyed by two professional services firms believe China’s growth and infrastructure investments through its “Belt and Road Initiative” mean its dominance in the region will only expand – despite earlier expectations that India would become more influential.But the executives still have concerns about the reach of Chinese companies within their domestic economies and would be less amenable to Chinese investors acquiring local firms in specific sectors,…
Source: SCMP – China

UK PM Theresa May to ban Huawei from providing ‘core’ parts of Britain’s 5G network

British Prime Minister Theresa May has ordered that Chinese telecoms supplier Huawei is to be banned from supplying core parts of the future 5G mobile phone network, following a meeting of ministers on the National Security Council (NSC) on Tuesday.Huawei will be allowed to supply some “non core” technology to British phone companies insiders said, but several ministers in the meeting raised concerns even about that concession, arguing instead for a total ban on the supplier.The political…
Source: SCMP – China

The Chearavanonts, Thailand’s richest family, are getting richer helping China

Chia Ek Chor fled his typhoon-ravaged village in southern China and started a new life in Thailand selling vegetable seeds with his brother in 1921. Almost a century later, with the largest family fortune in the country, his descendants are becoming Chinese President Xi Jinping’s key economic allies.Chia’s son Dhanin Chearavanont is senior chairman of Charoen Pokphand Group, a vast conglomerate that is the world’s biggest producer of animal feed, shrimp as well as a top telecom firm in Thailand…
Source: SCMP – China

Belt and road reflects reality that China is now a world power, Spanish foreign minister says

Beijing’s global trade and infrastructure scheme reflects the new reality that China is no longer a developing country but a world power, according to Spain’s foreign minister.But Josep Borrell Fontelles said any projects under the “Belt and Road Initiative” should stick to key principles, including environmental sustainability and a level playing field for all parties.“[The belt and road] is proof that China is no longer considering itself a net receiver and starts considering itself a…
Source: SCMP – China

US accuses engineer Xiaoqing Zheng and businessman Zhang Zhaoxi of stealing secrets, spying on General Electric to aid China

A former engineer and a Chinese businessman have been charged with economic espionage and conspiring to steal trade secrets from General Electric to benefit China, according to an indictment unsealed by the US Justice Department on Tuesday.It was a “textbook example of the Chinese government’s strategy to rob American companies of their intellectual property”, John Demers, head of the department’s National Security Division, said in a statement.Moments ago: a man taken from the Niskayuna house…
Source: SCMP – China

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