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Tag: China

Kim Jong-un was in Beijing, China and NK confirm

Kim Jong-un was in Beijing, China and NK confirm

World
Media playback is unsupported on your deviceAfter days of speculation, it has been confirmed that North Korea's leader Kim Jong-un did pay a visit to Beijing.The visit, confirmed by China and North Korea, was Mr Kim's first known foreign trip since taking office in 2011.He held "successful talks" with President Xi Jinping, China's Xinhua news agency reported. China is North Korea's main economic ally and it was thought highly likely it would consult Beijing before planned summits with South Korea and the US. Mr Kim is due to meet South Korean President Moon Jae-in in April, and US President Donald Trump in May. The Beijing visit is considered a significant step in North Korea's preparation for the proposed talks. What did the two leaders discuss?Mr Kim arrived with his wife, Ri Sol-ju, by ...
China targets $3 billion of US goods in tariff spat

China targets $3 billion of US goods in tariff spat

Technology
China announced a $ 3 billion list of U.S. goods for possible retaliation in a tariff dispute with President Donald Trump and girded Friday for a bigger battle over technology policy as financial markets sank on fears of global disruption. The Commerce Ministry said higher duties on pork, apples, steel pipe and other goods would offset Chinese losses due to Trump's tariff hike on steel and aluminum imports. It urged Washington to negotiate a settlement but set no deadline. Trump said Friday that he was not concerned that the tariffs would be a drag on the stock market. He added: "China is going to end up treating us fairly." In a separate and potentially bigger dispute, the ministry criticized Trump's decision Thursday to approve a possible tariff hike on Chinese imports worth up to $ 60 ...
China is at risk of a banking crisis, a central bank body says

China is at risk of a banking crisis, a central bank body says

Finance
China is one of the economies most at risk of a banking crisis, according to the Bank of International Settlements, which published its quarterly review on Sunday.The report, which included a study on the early signs of a banking crisis, found China's debt — measured by a credit-to-GDP gap — surpassing an amount that could lead to a system fallout. The country also has a high level of debt servicing ratio, which made its banking system more vulnerable.The credit-to-GDP gap measures the difference between the percentage of debt in an economy and its long term trend. A bigger number suggests debt is growing at a pace that may not be healthy for the economy.Debt servicing ratio, meanwhile, refers to the amount of money as a proportion of income that's used to repay loans. A higher ratio means
China scraps term limit on presidential rule

China scraps term limit on presidential rule

World
China has abolished the limit on how long its leader can serve, meaning President Xi could now rule the country indefinitely.The almost 3,000 hand-picked delegates at the National People's Congress overwhelmingly endorsed the constitutional change, with 2,958 voting in favour.There were two votes against, three abstentions and one ballot was invalidated.The amendment overhauls a system introduced by former leader Deng Xiaoping in 1982, which was introduced with the aim of preventing a repeat of the bloody reign of Mao Zedong.Until now, presidents had been limited to two consecutive terms.Image:The result of the vote is seen on a giant screenAs voting got under way, President Xi led members of the seven-member all-powerful Politurbo Standing Committee in casting their ballots.He put his ora...
China moving ahead with plans for next-generation X-ray observatory

China moving ahead with plans for next-generation X-ray observatory

Science
March 8 (UPI) -- China is getting closer to a finalized design for its next-generation X-ray observatory.As reported by Science this week, scientists at China's National Space Science Center are honing in on the final iteration of their design for the X-Ray Timing and Polarimetry, eXTP, satellite.The eXTP mission team plans to complete a prototype by 2022, with a goal to launch the satellite in 2025. The project will cost as an estimated $ 473 million.At recent meeting in Beijing, Xiangli Bin, vice president of the Chinese Academy of Sciences, predicted eXTP would become "China's flagship science satellite.""As we only have seven years to go it sounds like mission impossible," Xiangli said. "But we will coordinate international efforts and deliver it without delay."Engineers plan to outfit...