66 m. ago As Chinese exporters explore home market, how are letters of credit helping?

After the United States imposed so-called reciprocal tariffs on imports from China in April, Beijing took steps to help Chinese exporters sell their products domestically. In addition to the staging of product promotion events across the country and the offering of fiscal and financial incentives, Beijing also encouraged the increased use of letters of credit (L/Cs) to help such businesses switch focus to the domestic market. What is a domestic letter of credit? A letter of credit, also known as...

Politics

66 m. ago Cheerleaders to critics: German machinery makers call for EU action on China

Germany’s iconic machine makers used to be among the loudest cheerleaders for ever-closer economic ties between China and Europe. Now, as exports dwindle and facing “increasingly strong [Chinese] competitors” beefed up by “unfair state subsidies”, the industry is demanding that Brussels put in place trade barriers to protect it. A new position paper published on Thursday by the Mechanical Engineering Industry Association (VDMA), representing medium-sized manufacturers that help constitute...

Politics

21 h. ago Pentagon chief warns China preparing for war, calls Beijing top US threat

Pentagon chief warns China preparing for war, calls Beijing top US threat  Business Standard

Events

24 h. ago Massed drone deployments part of military modernisation: China’s PLA Daily

China’s military mouthpiece has called for the large-scale and centralised deployment of unmanned combat forces at key locations to fully realise their potential in any future intelligent warfare, amid rising tensions with the US in the Indo-Pacific. In an article published on Tuesday, the PLA Daily urged “innovative” organisation and applications of unmanned systems, highlighting their “decisive and dominant” role in future conflicts, including the capability to conduct close-range precision...

Events

49 h. ago Chinese man, 35, refuses to work or get married, lives in a cave for 4 years

A 35-year-old man in China who believes work and marriage are redundant notions has been living in a cave for four years. Min Hengcai from southwestern China’s Sichuan province calls home the adapted cavern in the town where he was raised. At the end of 2021, he gave up a ride-hailing driving job, which earned him 10,000 yuan (US$1,400) a month in the city, and returned home to live a life of seclusion. Min said he found work meaningless. He had previously worked for 10 hours a day to repay a...

Politics

66 h. ago China’s film distributors pledge more imports to diversify market

China’s film distributors have called for diversifying the country’s cinematic offerings with more and better titles from overseas, at a time when domestic productions have seized the lion’s share of the market from their imported competitors. At a work conference held by the state-owned China Film Group Corporation, as well as Huaxia Film Distribution, companies vowed to bring in “good titles from multiple countries” to improve the number, quality and market share of foreign films, state media...

Politics

66 h. ago China calls for cooperation with UK during ministers meeting

China calls for cooperation with UK during ministers meeting  Reuters

Politics

3 d. ago China's Xi urges respect, 'right track' in call with South Korean counterpart

China's Xi urges respect, 'right track' in call with South Korean counterpart  Reuters

Politics

3 d. ago 'India has become excessively dependent on China': Top economist calls for 'carefully tailored policy' for trade with Beijing

'India has become excessively dependent on China': Top economist calls for 'carefully tailored policy' for trade with Beijing  MSN

Events

3 d. ago The US and China are holding trade talks in London after Trump’s phone call with Xi

The US and China are holding trade talks in London after Trump’s phone call with Xi  AP News

Politics

4 d. ago Russian intelligence document calls China ‘the enemy’, leak exposes Moscow’s deep fear

Russian intelligence document calls China ‘the enemy’, leak exposes Moscow’s deep fear  Mint

Politics

5 d. ago Russia's FSB calls China 'the enemy' — leaked NYT report exposes secret Kremlin fears

Russia's FSB calls China 'the enemy' — leaked NYT report exposes secret Kremlin fears  RBC-Ukraine

Politics

6 d. ago Trump announces China will restart rare earth mineral shipments to US after productive call

Trump announces China will restart rare earth mineral shipments to US after productive call  Fox News

Politics

6 d. ago Trump tariffs live updates: US, China set for next round of talks after Trump

Trump tariffs live updates: US, China set for next round of talks after Trump-Xi call  Yahoo Finance

Politics

6 d. ago China hoping for ‘healthy and stable’ relations with Canada after Li

China and Canada have agreed to work to “reset relations” in a phone call between Premier Li Qiang and Prime Minister Mark Carney on Friday. After years of “unnecessary disruption” and “serious difficulties” in the relationship, China would now like to see it developing in a “healthy and stable” way, Li said, according to the Chinese foreign ministry. Both leaders acknowledged the importance of engagement and agreed to regularise channels of communication, according to the Canadians. The Chinese...

Politics

7 d. ago Indonesian villagers urge China to stop funding mine project after permit loss

An Indonesian community in North Sumatra is calling on Beijing to withdraw financial backing for a China-linked zinc and lead mine in the earthquake-prone region after the project lost its environmental permit. On May 23, Indonesia’s Ministry of Environment and Forestry formally revoked the approval it had granted in 2022 to Dairi Prima Mineral (DPM), an Indonesian joint venture seeking to build an underground mine in the Dairi regency. The move was in line with a Supreme Court ruling ordering...

Politics

7 d. ago Oil settles up as US, China teams to meet following Trump, Xi trade call

Oil settles up as US, China teams to meet following Trump, Xi trade call  Reuters

Politics

7 d. ago Donald Trump confirms China trip after 'very good' call with Xi Jinping

Donald Trump confirms China trip after 'very good' call with Xi Jinping  BBC

Politics

7 d. ago Trump Says He Discussed Trade, Rare Earths in Call With China’s Xi

Trump Says He Discussed Trade, Rare Earths in Call With China’s Xi  WSJ

Politics

7 d. ago US, China to resume trade talks after Trump call with Xi Jinping

US, China to resume trade talks after Trump call with Xi Jinping  KEYE

Politics