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WORLD

By Noelle Mateer / Jan 18, 2019 11:56 AM / World

Photo: VCG

Photo: VCG

Several governments worldwide have blocked Huawei from working on their telecoms systems.

Now the Chinese firm has been rebuffed by a different kind of organization: the University of Oxford.

Oxford has placed an indefinite ban on accepting donations and research grants from Huawei, the university confirmed after reports emerged Thursday.

Reports emerged after the South China Morning Post gained access to an email – sent to Oxford doctoral students in the computer sciences – that said the university’s Committee to Review Donations had “decided to suspend Huawei as an approved gift donor/research sponsor.”

In a statement, a university spokesperson said Oxford had made its decision on Jan. 8 in “light of public concerns raised in recent months surrounding UK partnerships with Huawei. We hope these matters can be resolved shortly and note Huawei's own willingness to reassure governments about its role and activities.”

Existing grants from Huawei will still continue, the statement said.

Huawei has been spurned by governments and corporations citing security concerns over the company’s ties to the Chinese government.

Huawei has also been in headlines lately ever since its CFO, Meng Wanzhou, was arrested in Canada on suspicion of violating U.S. sanctions against Iran.

See more of our Huawei coverage here


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WORLD

By Charlotte Yang / Jan 17, 2019 03:45 PM / World

China’s Vice Premier Liu He will visit the U.S. for consultations on Sino-U.S. economic and trade issues, Ministry of Commerce’s spokesperson Gao Feng said at a press conference today.

Liu’s visit is at the invitation of U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer, Gao said.

Complete coverage of the U.S.-China trade war

By Zhao Runhua / Jan 16, 2019 02:15 PM / World

Taiwan's Industrial Technology Research Institute. Photo: Ysh1005

Taiwan's Industrial Technology Research Institute. Photo: Ysh1005

Beijing responded Wednesday to a Taiwan research institute’s decision to prohibit staff from connecting Huawei devices to internal networks for safety reasons.

“We are strongly against this decision, which jeopardizes the mainland and Taiwan’s regular economic cooperation for political purposes,” Ma Xiaoguang, a spokesperson for China’s Taiwan Affairs Office, said during a regular press conference this morning.

“This will not only harm the interest of mainland-based enterprises, but will also harm Taiwan consumers. The decision, which pleases some foreign powers and serves as a puppet for outsiders, will not win people’s hearts,” Ma said.

On Monday, Taiwan’s Industrial Technology Research Institute issued an internal notice banning Huawei devices from connecting to the Institute’s wireless networks, Taiwan’s Economic Daily News reported. The notice also said the ban would help protect the Institute’s confidential R&D projects.

Huawei has faced mounting headwinds in recent months as Western countries have moved to ban the company from working on their telecommunications networks, under national security concerns. During a recent interview with the Wall Street Journal, Huawei founder Ren Zhengfei denied spying accusations.

Related: Taiwan Arrests Six Accused of Leaking BASF Tech to Mainland

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By Tanner Brown / Jan 15, 2019 03:01 PM / World

Sri Lankan President Maithripala Sirisena. Photo: VCG

Sri Lankan President Maithripala Sirisena. Photo: VCG

Bank of China has offered to loan Sri Lanka $300 million, Reuters reported Tuesday, because of what one source said was the country’s “difficulty in borrowing money after recent ratings downgrades.”

The report, which cited an anonymous source from Colombo, said the loan amount could be raised to $1 billion.

Related: Portugal Agrees to Promote Belt and Road as EU Moves to Raise Scrutiny

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By Bloomberg / Jan 15, 2019 09:25 AM / World

The U.S. Trade Representative’s office said trade negotiations will continue even as the agency implements a backup plan to deal with a lapse in funding amid a partial government shutdown.

USTR is carrying out its contingency plan to respond to the lapse of funding appropriated from Congress, the agency said on Monday. “Excepted personnel will ensure USTR continues to conduct operations, including trade negotiations and enforcement,” it said.

The Trump administration is conducting trade talks on several fronts as President Donald Trump tries to reach deals that are more favorable to the U.S. The administration is trying to reach a lasting truce in its trade war with China, and is on the cusp of beginning formal negotiations with the EU, Japan and U.K.

USTR’s statement doesn’t provide details on how the partial shutdown -- at 24 days, the longest in U.S. history -- will affect individual negotiations.

Read Caixin's full coverage of the trade war

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By Bloomberg / Jan 11, 2019 09:12 AM / World

Liu He. Photographer: Qilai Shen/Bloomberg

Liu He. Photographer: Qilai Shen/Bloomberg

Treasury Secretary Steven Mnuchin said Chinese Vice Premier Liu He is expected to come to Washington later this month for more trade talks, signaling progress in efforts to tamp down the dispute between the U.S. and China.

“The current intent is that the Vice Premier Liu He will most likely come and visit us later in the month,” Mnuchin told reporters on Thursday at the Capitol in Washington.

Mnuchin said he doesn’t expect the partial government shutdown to interfere with Liu’s planned visit.

Negotiators from both the U.S. and China expressed optimism after mid-level talks wrapped in Beijing this week, bolstering sentiment across global markets.

China and the U.S. will move ahead with the trade talks as scheduled, Chinese Ministry of Commerce spokesman Gao Feng told reporters in Beijing at a regular weekly briefing on Thursday, without giving any further details about when they would take place.

Read Caixin's full coverage of the trade war

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By Teng Jing Xuan / Jan 10, 2019 03:07 PM / World

Photo: VCG

Photo: VCG

Chinese President Xi Jinping hopes North Korean and U.S. leaders can meet at a second summit to work on a solution for the Korean peninsula, official news agency Xinhua reported Thursday.

Xi met North Korean leader Kim Jong Un in Beijing this week during Kim’s fourth visit to China in less than a year, and ahead of a possible summit between Kim and U.S. President Donald Trump.

China “encourages North Korea to continue in the direction of denuclearizing the (Korean) peninsula” and “supports a summit between North Korea and the U.S. to achieve results,” Xi said, according to Xinhua. Xi said he hopes “North Korea and the U.S. can meet halfway.”

Kim met with Trump in June at a historic summit in Singapore, where the two sides said they would “join their efforts to build a lasting and stable peace regime on the Korean Peninsula.” But little progress has been made since June.

Kim also told Xi that North Korea would work toward achieving “results welcomed by the global community” through a second summit, Xinhua reported.

Related: Gallery: Surprise Visitor From Pyongyang

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By Bloomberg / Jan 10, 2019 09:45 AM / World

Meng Wanzhou Photographer: Ben Nelms/Bloomberg

Meng Wanzhou Photographer: Ben Nelms/Bloomberg

China’s ambassador to Canada has accused the country of adopting “Western egotism” and “white supremacy” in its reaction to the detention of two Canadians following the arrest of a Huawei Technologies Co. executive in Canada last month.

The envoy said Canada is employing a double standard in demanding the release of two men who were detained in China nine days after the arrest of Huawei Chief Financial Officer Meng Wanzhou at the request of U.S. authorities. He also took aim at "elites" and "some in the Canadian news media" for saying that China’s judicial system is less independent than Canada’s.

“It seems that, to some people, only Canadian citizens shall be treated in a humanitarian manner and their freedom deemed valuable, while Chinese people do not deserve that,” Lu Shaye wrote in an op-ed published in the Ottawa-based Hill Times newspaper on Wednesday. “The reason why some people are used to arrogantly adopting double standards is due to Western egotism and white supremacy.”

“In such a context,” he added, “the rule of law is nothing but a tool for their political ends and a fig leaf for their practicing hegemony in the international arena. What they have been doing is not showing respect for the rule of law, but mocking and trampling the rule of law.”

Canada has been rallying other countries -- including the U.S., U.K., Germany and France, while Japan took a more subdued tone -- to criticize China’s seizure of the two Canadians. Lu criticized that as "a few individual countries" and questioned if they “really represent the whole international community?”

Former Canadian envoys have drawn a clear link in the cases, saying the two Canadians were detained in response to Meng’s arrest. Michael Kovrig and Michael Spavor remain in custody and have had scant access to Canadian authorities. China has said they were detained on “national security” grounds.

Meng was released on bail four weeks ago and is living under restrictions in her million-dollar Vancouver home. The U.S. has also called for the release of Spavor, an entrepreneur, and Kovrig, a former diplomat.

Prime Minister Justin Trudeau has urged China to “immediately” release the two Canadians, saying they were “arbitrarily” detained. Trudeau has said Canada had no choice but to arrest Meng during a stopover in Vancouver last month due to an extradition treaty with the U.S.

Read Caixin's complete coverage of Huawei

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By Fran Wang / Jan 10, 2019 08:10 AM / World

Three days of talks with the U.S. have “laid the foundation” for resolving the bilateral trade row between the world's two largest economies, China’s Ministry of Commerce said Thursday.

“The two sides ... had comprehensive, deep and detailed discussions on trade and structural issues we both are concerned about,”
the ministry said in a statement.

The negotiations “enhanced mutual understanding and laid the foundation for resolving issues that each is concerned about,” it said.

“Both sides have agreed to continue to keep close contact.”

Trade officials had scheduled two days of talks in Beijing in an effort to resolve their conflict this week, but extended those by an extra day after the meetings struck a positive tone.

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By Zhao Runhua / Jan 09, 2019 04:49 PM / World

Photo: VCG

Photo: VCG

Negotiations between China and the U.S. concluded Wednesday in Beijing, and results will be announced soon, according to Chinese foreign ministry spokesperson Lu Kang. 

The talks went one day longer than planned, which showed that both sides are serious about negotiations, Lu added.

If further talks are planned, details will be included in an upcoming announcement, Lu said.

Read complete coverage of the U.S.-China trade war


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By Bloomberg / Jan 08, 2019 09:58 AM / World

Kim Jong Un. Photo: Bloomberg

Kim Jong Un. Photo: Bloomberg

Kim Jong Un is making his fourth visit to China, state media reported, in a sign that the North Korean leader may be consulting China’s Xi Jinping ahead of a possible second summit with U.S. President Donald Trump.

Kim left Pyongyang Monday for a visit that is slated to end Thursday, North Korean and Chinese state media reported. Kim was invited by Xi and accompanied by his wife Ri Sol Ju and several top officials on his train journey across the border, the state-run Korean Central News Agency said.

Tuesday was Kim’s 35th birthday, according to South Korea’s Unification Ministry, although the date hasn’t been confirmed by North Korea.

The trip — Kim’s fourth to China since March — suggests negotiations over North Korea’s nuclear arsenal may be regaining momentum after months without high-level diplomatic meetings. Trump is seeking a second summit with Kim to reenergize talks that have made little headway since their first meeting in June, saying Sunday a date would be announced “in the not-too-distant future.”

Kim traveled to China — his most important security and trade partner — before meetings last year with Trump and South Korean President Moon Jae-in.

Moon’s office said Tuesday that it considered Kim’s visit a “positive development of many situations.” “We are aware of the fact that Kim is visiting China, and we are closely monitoring the situation,” Moon’s office said.

Kim could be looking to leverage his relationship with Xi, who Trump has accused of relaxing pressure on North Korea, to push the U.S. to make concessions in nuclear talks. The North Korean leader said in his New Year’s address last week that he might take a “new path” in negotiations if Trump didn’t relax the sanctions squeezing his economy.

Kim’s alternatives to U.S. talks include building closer ties with China. Still, that risks bringing North Korea under greater control of its larger and wealthier neighbor — something the regime has fought to avoid over the past six decades.

Related: Opinion: Can North Korea Replicate Vietnam’s Economic Miracle?

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By Tanner Brown / Jan 04, 2019 11:19 AM / World

Democratic U.S. Senator Elizabeth Warren, who recently formed a committee to explore a 2020 presidential run, has criticized former senator Joseph Lieberman for becoming a lobbyist for Chinese telecom giant ZTE.

Lieberman officially registered as a lobbyist for ZTE Wednesday, according to registration documents.

Warren tweeted that “ZTE is a giant foreign telecom company that's close with the Chinese govt. They've violated serious U.S. sanctions on Iran & N. Korea. Their lobbyists keep blocking accountability. And today former Senator @JoeLieberman joined them. Should that be legal? No.”

Lieberman and ZTE say his role will simply be to assess the company’s threat, or lack thereof, to U.S. national security.

The former senator “has been retained to undertake an independent assessment of concerns that Members of Congress, Executive branch and American businesses have about any national security vulnerabilities and risks that ZTE products may pose in the US," as well as report these concerns to ZTE, the legal filing shows.

Former Senate Chief of Staff Clarine Nardi Riddle has also registered as a lobbyist for ZTE, according to the document.

Related: Ex-Senator Lieberman Joins Payroll for Sanctions Violator ZTE

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By Bloomberg / Jan 04, 2019 10:21 AM / World

Photo: Bloomberg

Photo: Bloomberg

China said a U.S. delegation will visit next week for trade talks, confirming the two sides will have their first face-to-face negotiation since President Donald Trump and his counterpart Xi Jinping agreed to a 90-day truce in their trade war last month.

Deputy U.S. Trade Representative Jeffrey Gerrish will lead the U.S. delegation for the talks, the Commerce Ministry said in a statement. The two sides will discuss how to implement consensus reached by leaders of both countries in Argentina, it said. Bloomberg News reported earlier that U.S. officials are heading to Beijing the week of Jan. 7.

The talks adds to signs that the world’s two largest economies are making progress in cooling trade tensions. Trump reported “big progress” in trade negotiations after a phone call with Xi last week. Beijing last week announced a third round of tariff cuts, lowering import taxes on more than 700 goods from Jan. 1 as part of its efforts to open up the economy and lower costs for domestic consumers.


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By Teng Jing Xuan / Dec 28, 2018 06:19 PM / World

Photo: VCG

Photo: VCG

China’s customs authorities have taken the final steps toward allowing the first imports of U.S. rice into the Asian country after months of delay and trade conflict between the two countries.

The Chinese General Administration of Customs published Friday standards for hygiene and safety (dated Thursday) of U.S. rice products, sample documentation for U.S. rice producers hoping to sell to China, as well as a list of some of the first U.S. companies to receive registered rice importer status in China.

After years of talks, China and the U.S. signed a landmark agreement in 2017 to allow U.S. rice into China.

But actual imports have been delayed due to a number of regulatory hurdles. “While progress has been made, we are not yet at the finish line,” USA Rice Federation, an industry association, said on its website in a description of the Chinese market updated earlier this year.

In July, as the U.S.-China trade war escalated, China placed rice on its list of U.S. products subject to additional 25% tariffs, despite the fact that U.S. producers still technically couldn’t ship to China.

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By Charlotte Yang / Dec 27, 2018 05:40 PM / World

China’s total trade with Africa surged 20.3% in the first 11 months of this year compared to the same period in 2017, reaching $186.2 billion.

The year-on-year growth rate of Chinese imports from Africa reached 30.6%, while Chinese exports to Africa stood at 11.8%, the Ministry of Commerce said today.

The ministry said the growth of China’s trade with Africa surpassed China’s total trade growth rate by 5.5 percentage points.

Related: China’s Murky Lending Is Making Sub-Saharan Africa More of a Credit Risk, Moody’s Says

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By Runhua Zhao / Dec 24, 2018 06:52 PM / World

Photo: VCG

Photo: VCG

China will surpass Japan to become the United Nations’ second-largest regular budget contributor starting in 2019, Xinhua reported Monday.

China will bear 12.01% of the organization’s regular expense bill for the upcoming 2019-2021 period. China will also remain the second-largest contributor to UN’s peacekeeping.

China's Ministry of Foreign Affairs spokesperson Hua Chunying said the UN decided to increase China’s contribution portion due to the country’s position as the second-largest economy worldwide and its increasing “global influence” – despite China’s relatively low GDP per capita.


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By Noelle Mateer / Dec 24, 2018 04:02 PM / World

Photo: VCG

Photo: VCG

Going from China to Sweden for Christmas? You might want to be careful – at least according to China’s foreign ministry, which issued a travel warning over the weekend.

The travel advisory stated that more than 40 “incidents,” such as theft and robbery, had occurred in Sweden involving Chinese travelers over the past three months, the South China Morning Post reported

Why the past three months? The plight of Chinese travelers in the Nordic country has been in the spotlight since September, when a group of tourists were forcibly removed from a hotel by Swedish police.

The incident sparked outrage online, as well as the Chinese Embassy to Sweden’s initial warning, which was originally in effect until Dec. 22. This warning is a renewal of the first one, due to “the security situation in Sweden,” it says, SCMP reported.

Related: Internet Users Turn on Sweden Over TV Show Ridiculing Chinese Tourists

 


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By Teng Jing Xuan / Dec 21, 2018 03:52 PM / World

Photo: VCG

Photo: VCG

Most fishing stories involve some exaggeration — but a Vietnamese fisherman who said he caught a 19-foot torpedo earlier this week wasn’t telling tall tales, China’s defense ministry says.

A ”cigar-shaped metal object” was found off the coast of Phu Yen Province in south-central Vietnam on Tuesday, local news site Tuoi Tre News reported. Vietnamese authorities identified the object, which had Chinese characters on its body, as a "training torpedo.""It is still unclear whether the torpedo is just a dummy weapon or if it is actually capable of detonation," Tuoi Tre News said.

In response to the report, China's Ministry of National Defense wrote on Friday that the Chinese navy had “lost a torpedo” near Hainan Island while conducting drills in early December. The missing torpedo could have drifted closer to Vietnam, but it “was not aimed at any target,” the ministry said.


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By Han Wei / Dec 21, 2018 12:58 AM / World

Photo: Zhang Qi/Caixin

Photo: Zhang Qi/Caixin

Two Chinese nationals were charged by the U.S. Department of Justice with hacking and stealing information from U.S. tech firms and government agencies.

The two Chinese individuals — Zhu Hua and Zhang Shilong — were accused of “conspiracy to commit computer intrusions” against companies in the U.S. and other countries, the Justice Department said in a press conference Thursday morning in Washington.

The department linked the two defendants with the Chinese government and said they are members of a group that has engaged in years-long hacking campaigns. The defendants allegedly stole information from at least 45 U.S. tech companies and government agencies, the government said.

“We hope the day will come when the defendants face justice under the rule of law in a federal courtroom,” Deputy Attorney General Rod Rosenstein said at the news conference.

The action came as the Trump administration and China are in talks during a truce in a months-long trade war. The situation had already become more complex with the Dec. 1 arrest in Canada over alleged violations of Iran sanctions of a top executive of China’s Huawei Technologies in response to a U.S. request.

Related: In-Depth: The Shockwaves of Meng Wanzhou’s Arrest

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By Han Wei / Dec 20, 2018 03:36 AM / World

Photo: VCG

Photo: VCG

The Federal Reserve Wednesday raised its benchmark interest rate by a quarter percentage point but signaled a slower pace of increases next year.

In the fourth increase this year, the Fed took the target range for its benchmark federal funds rate to between 2.25% and 2.5%. The move marked the ninth increase since the U.S. central bank began normalizing rates in December 2015 following years of near-zero rates following the Financial Crisis.

The central bank trimmed its forecast of rate increases for the next year from three to two, signaling a slower pace for its monetary tightening campaign.

The Fed said in a Wednesday statement that U.S. “economic activity has been rising at a strong rate’’ and the central bank will “continue to monitor global economic and financial developments and assess their implications for the economic outlook.”

The rate rise came two days after President Donald Trump urged the Fed on Twitter to hold rates steady .

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