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U.S. withdraws from Open Skies Treaty, Russia hopes remaining parties meet commitments

(Xinhua)08:49, November 23, 2020

WASHINGTON, Nov. 22 (Xinhua) — The United States said on Sunday that it officially withdrew from the Open Skies Treaty, in yet another move to abandon a major international arms control agreement.

Today marks six months since the United States submitted our notice of withdrawal from the Treaty on Open Skies, National Security Adviser Robert OBrien said in a tweet.

The Trump administration submitted the notice of its decision to withdraw from the treaty in May, and the Sunday announcement marked the end of a six-month notification process.

The treaty, which became effective in 2002, allows its 34 State Parties to conduct short-notice, unarmed reconnaissance flights over the others entire territories to collect data on military forces and activities.

The United States and Russia have blamed each other for noncompliance with the treaty. Washington and Moscow have each put a few limits on flights over their territories — Hawaii and some other U.S. bases have been off-limits, as has Kaliningrad, among others, according to media reports.

The treaty is aimed at building confidence and familiarity among State Parties through their participation in the overflights. By 2019, over 1,500 Open Skies flights have been conducted since the deal entered into force, according to media reports.

Some experts noted that a unilateral U.S. exit from the treaty would undermine U.S. commitment to its NATO allies.

Moscow will seek firm guarantees that the states remaining in the Treaty on Open Skies fulfill their obligations, the Russian Foreign Ministry said Sunday in connection with the U.S. withdrawal from the treaty.

After withdrawing from the Treaty on Open Skies, the U.S. side expects that its allies, on the one hand, will hinder Russian observation flights above U.S. military facilities in Europe, and, on the other hand, share with Washington their photographic materials of Russian territory, it said in a statement.

Of course, this is unacceptable for Russia, it added.

We will seek firm guarantees that the states remaining in the Treaty on Open Skies will fulfill their obligations, firstly, on ensuring the possibility of observing their entire territory and, secondly, on ensuring that the materials of observation flights will not be transferred to third countries that are not participants of the treaty, it said.

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China international agricultural trade fair opens in Chongqing

(Xinhua)10:32, November 28, 2020

CHONGQING, Nov. 27 (Xinhua) — The 18th China International Agricultural Trade Fair opened on Friday in southwest Chinas Chongqing Municipality, with more than 12,000 enterprises bringing along over 80,000 types of exhibits.

The four-day event will promote agricultural product brands and focus on poverty alleviation by promoting sales of farm produce from impoverished regions.

The fair also has an exhibition section to showcase Chinas achievements in poverty alleviation via developing industries.

Minister of Agriculture and Rural Affairs Han Changfu said authorities would use the platform to summarize the countrys achievements in poverty alleviation via new industries and then mull further measures to push forward rural vitalization.

The fair also offers other activities, including a forum on sustainable development of specific industries in regions that have shaken off poverty, as well as a digital countryside development forum.

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China issues guidelines on patriotic public health campaign

(Xinhua)10:33, November 28, 2020

BEIJING, Nov. 27 (Xinhua) — Chinas State Council has issued a set of guidelines on carrying out the patriotic public health campaign in a deep-going way, with the aim of laying solid foundations for building a healthy China.

The document calls for efforts to summarize and publicize the countrys successful experience in COVID-19 prevention and control, strengthen the application of big data, effectively prevent and control infectious and chronic diseases, and improve peoples health, so as to lay solid foundations for building a healthy China.

It underscores improvements to public health facilities and the living environment in both urban and rural areas.

More work should be done to step up sewage and garbage treatment, advance the toilet revolution to improve sanitation of toilets, ensure drinking water safety and strengthen vector control, it says.

Health knowledge should be promoted among the public, says the document, which also advocates a healthy and environment-friendly lifestyle.

It also stressed innovation to improve management, strengthening the rule of law in carrying out relevant work and intensifying policy research and technical support.

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Beijing enhances TCM practitioner training in new legislation

(Xinhua)11:43, November 28, 2020

BEIJING, Nov. 27 (Xinhua) — The Chinese capital Beijing on Friday passed a regulation to strengthen the training of traditional Chinese medicine (TCM) practitioners, as officials hailed TCMs contributions to the battle against the COVID-19 epidemic.

Passed by the Standing Committee of the Beijings Municipal Peoples Congress, the legislation said authorities at city and district levels must arrange regular training and help TCM veterans and masters pass down their skills to students.

It also called for training more high-caliber personnel on both TCM and Western medicine.

Tu Zhitao, chief of the Beijing Administration of Traditional Chinese Medicine, said TCM was important in Beijings response to COVID-19, especially in the treatment of over 300 patients after the cluster outbreak related to the Xinfadi market between June and July.

Beijing boasts rich TCM resources and a profusion of TCM experts, the official said, adding that the city also plans to include TCM professionals in its emergency rescue teams.

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China solves over 80,000 unsettled cases in organized crime crackdown

(Xinhua)11:50, November 28, 2020

BEIJING, Nov. 27 (Xinhua) — A total of 80,800 unsettled cases opened prior to 2015 have been solved during Chinas nationwide organized crime crackdown, which was launched in early 2018, according to official data.

Of these cases, 1,274 date back 20 years or more, 7,905 date back 10 years or more, and 2,669 involve the deaths of individuals.

In the meantime, police across the country have seized 1,836 illegal firearms and a large number of explosive devices since the initiation of the campaign.

Solving such cases acts as a strong deterrent for would-be criminals. In 2019, China saw a 4.1-percent drop in the number of criminal cases compared to the previous year, authorities said.

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China to ban all imports of solid waste from 2021

(Xinhua)12:01, November 28, 2020

BEIJING, Nov. 27 (Xinhua) — China will ban all imports of solid waste from Jan. 1, 2021, authorities have said.

The dumping, stacking and disposal of waste products from overseas on Chinese territory will also be banned, according to a notice issued by the Ministry of Ecology and Environment, the Ministry of Commerce, and the General Administration of Customs.

The total ban is the culmination of policies introduced since 2017 to phase out the import of solid waste. For example, in late 2017 China banned the import of 24 types of solid waste, including unsorted paper, textiles and vanadium slag.

China began importing solid waste as a source of raw materials in the 1980s and for years has been the worlds largest importer, despite its limited capacity in garbage disposal. Some companies illegally brought foreign waste into the country for profit, posing a threat to the environment and public health.

With the growing public awareness of environmental issues and the success of Chinas green development drive, the countrys solid waste imports have decreased significantly. Last years imports stood at 13.48 million tonnes, down from 22.63 million tonnes in 2018. In the first 10 months of this year, such imports plunged 42.7 percent year on year.

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China to make financial services more accessible for elderly

(Xinhua)12:06, November 28, 2020

BEIJING, Nov. 27 (Xinhua) — China will roll out a raft of measures to make financial services more accessible for the elderly and help the group tackle the digital divide, according to the countrys central bank.

Measures to improve cash management, payment services and inclusive finance will be adopted to make services more convenient for the elderly, said Li Wei, an official with the Peoples Bank of China (PBOC), at a press conference on Thursday.

The move followed a government plan unveiled on Tuesday, which specified measures to maintain traditional services for the elderly and help them overcome smart technology barriers.

To crack down on discrimination against the use of cash, the PBOC will launch a campaign to ensure utility service providers and service venues such as restaurants and shops do not turn down cash payments, Li said.

In an effort to help the elderly use mobile payment services, the central bank will guide businesses to upgrade their payment platforms and products, and will strengthen relevant publicity and education for the group.

Financial institutions will also be required to integrate online and offline inclusive financial services, especially those frequently used by the elderly, so that they can be tailored to their needs, Li added.

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Chinese state councilor, Japans LDP secretary general hold talks, agree to enhance bilateral ties

(Xinhua)09:42, November 26, 2020

Visiting Chinese State Councilor and Foreign Minister Wang Yi (R) meets with Secretary General of the Liberal Democratic Party Toshihiro Nikai in Tokyo, Japan, Nov. 25, 2020. (Xinhua/Du Xiaoyi)

TOKYO, Nov. 25 (Xinhua) — Visiting Chinese State Councilor and Foreign Minister Wang Yi here on Wednesday met with Toshihiro Nikai, secretary general of the Liberal Democratic Party (LDP) of Japan, as both sides vowed to enhance bilateral relations.

During the meeting, Wang said that with the joint efforts of both sides, the China-Japan relations have come back to the right track in recent years and maintained the momentum of stable development. Since the establishment of the new Japanese government, China and Japan have carried out active interactions.

The two sides should carry forward the friendship of mutual support and assistance during the fight against the COVID-19 epidemic, actively implement the important consensus reached by leaders of the two countries and push forward the sustained development of China-Japan relations under the new situation, Wang said.

Wang also said that China is accelerating the building of a new development pattern and further expanding domestic demand, which will bring new important opportunities to countries around the world including Japan.

After the COVID-19 epidemic becomes stable, the two sides should gradually expand personnel exchanges and carry out other two-way exchanges such as study tours for youth so as to improve the public opinion environments of the two countries, he said.

The two countries should strengthen pragmatic cooperation in various fields and properly address respective concerns in the process of cooperation, he said.

Wang also called for joint efforts of the two countries to push forward the early implementation of the Regional Comprehensive Economic Partnership, based on which, China, Japan and South Korea would actively accelerate the negotiation process of their trilateral free trade agreement.

Nikai said that the Japanese side welcomes the announcement of the fast track for necessary personnel exchanges between the two countries and hopes that the two sides will further strengthen people-to-people exchanges.

The LDP is committed to promoting the steady development of Japan-China relations and would like to continue to make use of the exchange mechanisms of the ruling parties between the two countries and deepen bilateral exchanges and cooperation in such fields as economy and trade, tourism, youth and women.

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Across China Chinas NEV industry on fast track

(Xinhua)09:11, November 25, 2020

Huang Zhi, a new energy vehicle (NEV) owner in southwest Chinas Chongqing Municipality, is fascinated by the enjoyable driving experience brought by his car.

My friend said I wouldnt miss traditional petrol-powered cars after driving a NEV. Now Im a true believer! said Huang, who had just bought a new NEV produced by NIO, a Chinese electric vehicle manufacturer.

In China, more and more car buyers are opting for NEVs, which reflects the rapid development of the NEV industry in the country.

The production and sales of NEVs in China have occupied nearly half of the global market. In September this year, the sales volume of NEVs increased 67.7 percent year on year in the country.

Despite the impact of the COVID-19 epidemic, many Chinese NEV enterprises have seen their production and sales rise as they are highly favored by the capital market.

In mid-November, NIOs share price was close to 50 U.S. dollars and the market value of its stocks exceeded 60 billion U.S. dollars, surpassing many internationally renowned car manufacturers.

Domestic brands have the ability to compete with foreign brands, which was difficult in the past, said Gao Guohua, chairman of State Development Investment Corp., Ltd.

Many enterprises have developed and used their own power assemblies, and some core components and application software have gradually been domestically produced, Gao added.

Li Bin, founder of NIO Inc., said that since its establishment, NIO has invested about 20 billion yuan (about 3.05 billion U.S. dollars) in research and development and about 20 billion yuan in user service system construction and brand building. Now the company sells more than 10,000 cars every quarter.

A number of high-tech Internet companies in China have also joined the auto industry to promote the integrated development of NEVs and intelligent vehicles.

Alibaba, the Chinese Internet giant, and Chinese automaker SAIC Motor have jointly developed the Banma intelligent automobile operating system, which can provide intelligent and connected automobile solutions for the entire automobile industry.

We have great confidence in what the future holds, Li said.

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New rules boost global standing of A shares

(China Daily)11:52, January 12, 2021

Investors check share prices at a securities firm in Nanjing, Jiangsu province. (Photo by Xing Qu/For China Daily)

International investors trust in Chinese equities has been enhanced after tougher regulations took effect to weed out listed companies indulging in misconduct or with weak fundamentals, experts said.

We welcome the new set of rules as it has raised costs of misreporting or committing financial fraud and will therefore improve corporate governance in the A-share market, said Lynda Zhou, chief investment officer for equities in China at Fidelity International, a global asset manager.

This will help more A-share listed firms become qualified to be part of the investment universe of foreign investors, Zhou said.

The risk of forced delisting has increased considerably due to the new rules, serving as an effective deterrent to potential misconduct of listed companies, she said.

The new delisting regulations were released by the Shanghai and Shenzhen stock exchanges on Dec 31 and have since taken effect across the whole A-share market. The rules have shortened the delisting process and tightened the delisting criteria for financial indicators, trading, noncompliance and violation.

For instance, after the revisions, listed companies will be forced to delist if they indulge in misreporting for two consecutive years and the total fabricated revenue exceeds 500 million yuan ($77.4 million) and half of the total disclosed revenue for the period.

Companies that are seriously defective in information disclosure or in compliance and fail to rectify the flaws will also be delisted due to the new rules, in a bid to improve the governance and quality of listed companies.

The revised rules will also look to eliminate firms with limited operational abilities from the market by refining the financial-indicator delisting criteria and adding a delisting threshold based on market value.

Companies will be forced to delist if their closing market value falls below 300 million yuan for 20 consecutive trading days. Share prices of the more than 30 A-share companies with closing market value of less than 1 billion yuan as of Dec 31, which are liable to delisting under the new rules, dropped by an average 7.2 percent in the first four trading days of 2021, according to market tracker Wind Info.

The latest rules are in keeping with Chinas multiyear market reforms that help buffer investors confidence in the quality of onshore listed assets, said Han Tan, a market analyst at FXTM, a United Kingdom-based global trading platform.

Chinese equities will benefit further as more of these market reforms take hold, especially as many global investors are looking to ride on Chinas stellar economic recovery from the COVID-19 outbreak, he said.

China has made improving its delisting system one of its key financial reform tasks during the 14th Five-Year Plan period (2021-25).

Related efforts have been stepped up since 2019, with reformed delisting rules trialed on Shanghais STAR Market and Shenzhens ChiNext. The new delisting rules effective across the whole market came in after the two bourses solicited public opinion on draft revisions earlier in December.

From 2019 to 2020, 26 listed companies were forced to delist from the two bourses, more than double the number seen in the previous six years, said the China Securities Regulatory Commission, the top securities regulator.

The regulator will work to further strengthen delisting rules while improving the related investor protection mechanism, it said, aiming to crack down on companies that violate rules and minimize investors losses.