BRI NEWS

Latest

China successfully launches new communication technology experiment satellite

XICHANG, Jan. 7 (Xinhua) -- China sent a new communication technology experiment satellite into space from Xichang Satellite Launch Center in Sichuan Province at 11:20 p.m. (Beijing Time), Tuesday.A new communication technology experiment satellite is launched by a Long March-3B carrier rocket at the Xichang Satellite Launch Center in Xichang, southwest Chinas Sichuan Province, Jan. 7, 2020. The satellite will be used in communication, radio, television and data transmission, as well as high throughput technology test. (Photo: Xinhua)The satellite has entered the preset orbit. It will be used in communication, radio, television and data transmission, as well as high throughput technology test.The satellite was launched on a Long March-3B carrier rocket. It was the 324th mission for the Long March series carrier rockets.The new satellite and the carrier rocket were developed by the Shanghai Academy of Spaceflight Technology and the China Academy of Launch Vehicle Technology, under the China Aerospace Science and Technology Corporation.

Philippines' int'l reserves hit all-time high by end-December 2019

Photo: VCGMANILA, Jan. 7 (Xinhua) -- The Philippines gross international reserves (GIR) rose by 1.63 billion U.S. dollars to the all-time high of 87.86 billion U.S. dollars as of end-December 2019 from 86.23 billion U.S. dollars as of end-November 2019, the countrys central bank said on Tuesday.Citing preliminary data, the Bangko Sentral ng Pilipinas (BSP) said the month-on-month increase in the GIR level reflects the inflows arising from the BSPs foreign exchange operations and income from its investments abroad, and the national governments net foreign currency deposits."These inflows were offset partly, however, by outflows representing payments made by the national government on its foreign exchange obligations during the month in review," the BSP said in a statement.The BSP further said the end-December 2019 level of the GIR provides an ample external liquidity buffer that is equivalent to 7.7 months worth of imports of goods and services and payments of primary income.It is also equivalent to 5.5 times the countrys short-term external debt based on original maturity and 4.3 times based on residual maturity, the BSP added.The BSP said the countrys net international reserves (NIR), which refers to the difference between the BSPs GIR and total short-term liabilities, likewise increased by 1.62 billion U.S. dollars to 87.83 billion U.S. dollars as of end-December 2019 from the end-November 2019 level of 86.21 billion U.S. dollars.

Cultural events to be held in Egypt to celebrate Chinese New Year

The China Cultural Center in Egypt announced on Monday a series of cultural events to celebrate the upcoming Chinese New Year with local people in major Egyptian cities.Cairo, Egypt. (Photo: AFP)"The activities of the Chinese Spring Festival for 2020 will include many elements such as cultural experiences, competitive sports and traditional festivals," Chinese Cultural Counselor to Egypt Shi Yuewen told Xinhua in Cairo.These celebratory events will help the Egyptian people share the joy of the Chinese festival and make them feel the harmony between the two civilizations, he said.Shi revealed that the China Cultural Center will hold eight major events in Cairo and Alexandria to celebrate the festival between Jan. 11 and Feb. 16."Last year, the China Cultural Center held more than 100 events in Egypt. All these events were meant to boost Sino-Egyptian cultural cooperation," he told Xinhua.This year will witness larger mutual cooperation and more cultural events in Egyptian cities, the Chinese counselor noted.Cultural exchanges have increased since China and Egypt upgraded their relations to a comprehensive strategic partnership in 2014, with artists, cultural and musical delegations paying mutual visits.Through such activities, Egypt and China hope to boost friendly ties and enhance mutual understanding and future development between the peoples of the two countries.

Chinese tourists become largest foreign visitor group in Finland's Rovaniemi

Photo: VCGTourism in Finlands Lapland is expected to set a new record in 2019, and Chinese tourists have become the largest group among foreign visitors in Rovaniemi, the administrative capital and commercial center of Lapland, Finnish national broadcaster Yle reported.From January to November last year, the number of overnight stays in Lapland was 2.6 million, increasing by nearly 4.0 percent from the same period of the previous year.53 percent of the overnight stays during the period were domestic tourists. Overnight stays by foreign tourists grew slightly more than Finns. The biggest group of non-resident tourists was from Germany, followed by France and the United Kingdom, according to data obtained by Yle.In Rovaniemi, a favorite destination for foreign tourists, the number of overnight stays in January-November 2019 was 600,000, increasing by over 12 percent. 60 percent of those spending the night in Rovaniemi were foreigners, of which Chinese tourists were the largest group, followed by French, German and Russian.According to Statistics Finland, in addition to Lapland, tourism also grew elsewhere in Finland during the period. A total of 21.32 million nights were spent in Finnish accommodation establishments, which was 4.1 percent more than in the corresponding period one year earlier.Among the foreign tourists visiting Finland, overnight stays by Chinese increased most in absolute numbers, by 42,100 nights, or up 14 percent in the first 11 months of 2019, compared to the same period of 2018.

Baidu seeks secondary listing in HK: report

(Photo: VCG)The Hong Kong stock market tumbled temporarily in 2019 when the city was immersed in months of unrest, but experts said that the negative impact would be very small as a trend is developing with more Chinese mainland-based, overseas-listed companies seeking secondary listings on the citys market.Chinese tech giant Baidu Inc will hold a secondary listing on the Hong Kong Exchanges and Clearing (HKEX) and Baidu has conducted an internal evaluation about the listing, media reports said on Monday.The company has hired people in Hong Kong to be in charge of connecting with local institutions and contacted some large-scale institutions in the city, news site finance.sina.com.cn said.Baidu said it had no comment on the matter when reached by the Global Times on Monday. The company went public on NASDAQ in August 2005.Media reports said earlier that the HKEX is in talks with two more mainland-based tech giants, Ctrip and NetEase, about possible secondary listings.Baidu had been planning a listing on the Hong Kong bourse for a while and its progress may be faster than other companies like Ctrip, finance.sina.com.cn said, citing people close to the matter.Many mainland companies adopted a wait-and-see attitude when Alibaba got a secondary listing in Hong Kong in November 2019, and they were encouraged to see that the listing advanced smoothly, Wu Hao, a Shenzhen-based industry analyst, told the Global Times on Monday.A Shanghai-based private fund employee who is also a veteran Hong Kong stock market observer said that "if those companies are just listed overseas, it would be hard for domestic institutional investors such as bank wealth management funds or insurance capital to get access to them except via very limited investment channels like the Qualified Domestic Institutional" investor program."When they are listed in Hong Kong instead, capital flows will be much easier with the existing stock link mechanisms between ...

Beijing's sub-city center plans Asia's largest underground transportation hub by 2024

(Photo: VCG)Chinas capital Beijing will build a comprehensive transportation hub in its sub-city center in Tongzhou district, Zeng Zanrong, Party head of the district, said on Tuesday.The transportation hub, which is designed to connect three subway lines and two railways, began construction on Nov 30.Zeng said it will become anther huge-scale transportation infrastructure construction following the Beijing Daxing International Airport.According to the district authority, the project will be completed by the end of 2024 and will be ready to be put into operation.

Chile's ambassador to China looks forward to deeper and wider cooperation

(Photo:Fu Yongchao)While salmon, cherries and red wine from Chile find favor with Chinese consumers today, they were not so popular back in 1991, when Luis Schmidt, now Chilean ambassador to China, came to China for the first time and introduced home-made products to the Chinese people.It seemed that Chinese consumers believed that those exotic products from Chile either didnt suit their needs or were too expensive, said Schmidt.Schmidt, however, still believed that with a large population, the Chinese market was filled with great potential.It turned out that he was right. Today, China has become the largest overseas market of Chilean red wine and Chile is the largest source of fresh fruits for China.The popularity of Chiles red wine and fruits in the Chinese market is also a reflection of the progress of the Chinese economy and society."I really admire China for its achievements in the past 70 years, especially since its reform and opening-up in 1978," said Schmidt, pointing out that China has become the worlds second largest economy and contributed over 30 percent to world economic growth.Chile is the first Latin American country that has signed bilateral free trade agreements with China, and the two countries have since achieved leapfrog development in economic and trade cooperation.Back in 2010, China only ranked tenth in terms of trade volume with Chile, yet it has now become the country’s largest trading partner, Schmidt pointed out.Over 1.5 million Chilean people in the fruit business have benefited from trade with China and some farmhouses in Chile have been transformed into big companies.Schmidt noted that the bilateral cooperation has expanded from fruits to services and investment, among others, which he thinks has brought more business and development opportunities for Chile.He also believes that the Belt and Road Initiative (BRI) will usher in a new chapter of bilateral cooperation in infrastructure, trade and investment.

China-Indonesia fisheries issue calls for joint mechanism

(Photo: Global Times)It has been reported recently that Indonesia protested over Chinese fishing vessels and coastguard presence in the waters near the Natuna Islands, claiming that "Chinas claims to the exclusive economic zone on the grounds that its fishermen have long been active there... have no legal basis and have never been recognized by the 1982 UNCLOS." Chinese Foreign Ministry spokesman Geng Shuang replied on Dec 31, stating that China has sovereignty over the Nansha Islands and has sovereign rights and jurisdiction over relevant waters near the Nansha Islands. In the meantime, China has historical rights in the South China Sea. Therefore Chinese fishing activity and coastguard vessels presence is legal and legitimate.The Natuna Islands are located on the southern tip of the South China Sea with abundant natural resources such as fisheries, oil and gas. China has recognized Indonesias sovereignty over the Natuna Islands for many years. In 2015, Chinese Foreign Ministry spokesman Hong Lei clearly stated that China has no objection to Indonesias sovereignty over the Natuna Islands. However, Indonesia claimedEEZfrom the Natunas overlaps with the waters of the Nansha Islands. To Chinese fishermen, this part of the South China Sea has been known for decades as the southwest fishing grounds. Thus the two states have had a dispute over maritime jurisdiction in the waters.Since the 1990s, Indonesia has sought through diplomacy to manage this issue with China over sovereign rights and jurisdiction in the waters of the southern part of the South China Sea while not disturbing its overall relationship with China.Indonesia continues to insist that it has no territorial claims over areas in the South China Sea. While being a non-claimant, it has expressed many times that it would be happy to be "an honest broker" in the dispute by not siding with any party.Nevertheless, it is sometimes trapped in the...

Better Kenya ties seek China’s leadership

Nancy Wangari Ndirangu, director of Centrofood Industries, delivers a speech concerning her experience of attending the China International Import Expo during a reception held in Nairobi, Kenya, Nov 16, 2018. (Photo: Lyu Shuai/Xinhua)Chinas rising power and influence comes with more responsibility. The country is expected to take international responsibilities matching its power and influence. While there are no strict guidelines on big power responsibility, the powers are expected to shoulder responsibilities that include financial, humanitarian, global governance and politics, international security etc. Weak and small states look up to big powers to show leadership, promote equality and social justice and drive the global development agenda.Much of the Western world is suspicious of Chinas motives and believes the Asian power is plotting world domination so as to control resources and commodities especially in Africa where it has taken a prominent role.One of the initiatives taken by China to strengthen global commerce and trade is the Belt and Road Initiative which comprises of the Silk Road economic belt and the Maritime Silk Road initiative that involve billions in investment and infrastructure development linking Southeast Asia, the Middle East and Africa. The initiative has generated enthusiasm and high hopes as well as skepticism and doubts in some places.Kenya stands as a focal entry point of the Maritime Silk Road initiative in Africa translating into increased interest from Chinese investors who see it as an important entry point in the East African sub-region and the continent. China is now Kenyas largest source of foreign investment and second largest trade partner. Most of Kenyas new flagship projects, some complete and others ongoing, are related to this initiative.While criticisms of China and its activities in Kenya may be based on long held negative perceptions, exaggerations and sensationalism based on ...

Kiribati President's visit to China hailed as milestone

(Photo: Global Times)Kiribati President Taneti Mamaus official Beijing visit, the first of its kind since the island nation resumed diplomatic ties with China, yielded fruitful results. China will open its market further to Kiribati to products including seafood, Lu Kang, director-general of the North American and Oceanian Department of Ministry of Foreign Affairs, said at a press conference on Monday.President Taneti Mamau wasinspired to make the visit so soon after the two countries restored ties andMamau said his visit was a milestone, according to Lu.Mamau wasdeeply impressedby Chinas economic development after meeting with Chinese leaders and visiting companies, especially by the countrys high-tech sector development, Lu also said.Based on the one-China principle, Kiribati is willing to deepen strategic mutual trust and reciprocal ties and understands the great potential for bilateral cooperation, Lu noted.China and Kiribati formally resumed diplomatic relations in September after the Pacific island state announced it would cut "diplomatic ties" with the island of Taiwan.The two countries signed a Memorandum of Understanding (MOU) on theBelt and RoadInitiative (BRI) in Beijing on Monday, which marks that China has signed BRI deals with all the 10 Pacific island countries that have diplomatic ties with China, according to the Xinhua News Agency.Annual bilateral trade volume between China and Kiribati is roughly $19 million. The majority of the islands exports to China is seafood. As more agreements are reached and favorable tariff policies are implemented, China will open its market further and especially within the fishing industry.Mamau is scheduled to visit East Chinas Zhejiang Province, Shanghai, and South Chinas Guangdong Province, Lu noted. The three southern coastal regions have been working with Kiribati in their agriculture and fishing i...

Chinese tourists to Israel up 36.7 pct in 2019: annual report

JERUSALEM, Jan. 6 (Xinhua) -- The number of Chinese tourists visiting Israel in 2019 increased by 36.7 percent in 2019, compared to 2018, according to an annual report released by the states Central Bureau of Statistics on Monday.File photo: CGTNAccording to the report, a total of 156,100 tourists from China visited Israel in 2019, compared with 114,200 in 2018.Last December, 11,700 Chinese tourists visited Israel, an increase of 12.5 percent compared to 10,400 tourists in December 2018.The report also shows that in 2019, an all-time record of 4.55 million tourists visiting Israel was recorded, an increase of 10.4 percent compared with 4.12 million in 2018.Another annual report released by the Bureau shows that in 2019, a total of 4.2 million Israelis travelled abroad (almost half the population), up 2.4 percent from 2018.

Xi Jinping's speeches at PRC's 70th founding anniversary celebrations published

Speeches made by Xi Jinping, general secretary of the Communist Party of China Central Committee, at a series of events celebrating the 70th anniversary of the founding of the Peoples Republic of China (PRC) was recently published by the Foreign Languages Press in Chinese and English at home and abroad.File photoLast year marked the 70th anniversary of PRCs founding, with Xi attending a series of celebrations and delivered rousing speeches.The book contains three important speeches delivered by Xi at the presentation ceremony of national medals and honorary titles, the reception to celebrate the countrys 70th founding anniversary and the grand rally to celebrate the anniversary.Xi, in his speeches, elaborated on the PRCs magnificent course of development over the past 70 years, described the indomitable spirit of unity and hard work of the Chinese people, and demonstrated Chinas firm determination to follow the path of peaceful development and build a community with a shared future for mankind.Those speeches also greatly aroused patriotism among the Chinese people, boosted the morale of the party, the army and the people, and greatly enhanced the confidence and pride of Chinese people at home and abroad.

READ MORE

Terms od Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue