Category Archives: China

China banks told to bail out property developers as mortgage boycotts threaten economy

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Intervention comes as thousands of homebuyers refuse to make mortgage repayments in deepening property sector crisis

Chinese banks have been told to bail out struggling property developers to help them complete unfinished housing projects and head off the growing mortgage strike that threatens to seriously damage the economy.

With thousands of homebuyers banding together to refuse to keep up with mortgage instalments on unfinished apartments bought off the plan, regulators have stepped up efforts to encourage lenders to extend loans to qualified real estate projects.

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China floods leave at least 12 dead, with thousands evacuated

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Another 12 missing in flash floods in Sichuan and Gansu, as some areas receive double their monthly rain in less than two days

Flash floods in south-west and north-west China have left at least a dozen dead and put thousands of others in harm’s way, state media has reported.

In the south-western province of Sichuan, at least six people have died and another 12 are missing after torrential rain triggered flash floods, state-owned news outlet CGTN reported on Sunday.

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Tony Blair urges western powers to stand up to China

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Former prime minister warns era of political and economic dominance by west coming to an end

Tony Blair has issued a rallying call to western nations to come together to develop a coherent strategy to counter the rise of China as “the world’s second superpower”.

Delivering the annual Ditchley lecture on Saturday, the former prime minister called for a policy towards Beijing of “strength plus engagement” as he warned the era of western political and economic dominance was coming to an end.

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Smiles and unity at the Pacific Islands Forum mask tough questions shelved for another day

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While leaders presented a picture of harmony, more vexing topics like Australia’s fossil fuel ambitions and China were kicked down the road

At the close of the Pacific Islands Forum the leaders emerged from their retreat smiling, cut a giant cake with a sword and then, in an impromptu moment of diplomatic bonhomie, posed for a selfie after Anthony Albanese whipped out his phone, Ellen DeGeneres style.

It was, quite literally, a picture of harmony.

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Joe Biden lands in Saudi Arabia seeking to halt shift towards Russia and China

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Analysis: US president aiming to convince Jeddah to increase oil supply in order to calm global energy markets

Joe Biden landed in the Saudi Arabian port city of Jeddah to a tepid welcome from the Saudi crown prince whose country he once pledged to make a “pariah” on the world stage.

While Saudi Arabia announced it would open its airspace to flights from Israel, making Biden the first US president to fly directly from Tel Aviv to the kingdom, expectations of further gains during his visit remained low. The US national security adviser Jake Sullivan told journalists onboard Air Force One not to expect any bilateral announcements in response to American demands that Saudi Arabia pump more oil to calm global energy markets after the Russian invasion of Ukraine.

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Thousands evacuated as heat causes wildfires in Europe and north Africa

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Portugal declares ‘state of contingency’ as France, Spain and Morocco also battle fires, while record heat hits China

Thousands of people in Portugal, Spain, France and Morocco have been evacuated from their homes as firefighters tackle wildfires caused by this week’s heatwave, which has brought extreme temperatures of more than 45C (113F) to parts of Europe and north Africa.

One person has died and at least 135 people have suffered mainly minor injuries since wildfires began in Portugal last week. A “state of contingency” has been in effect since Sunday, and about 800 people have been evacuated from their homes, according to the country’s Civil Protection Authority.

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China’s Xi Jinping makes rare visit to Xinjiang

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President shown surrounded by smiling and clapping Uyghur residents on first visit in eight years

China’s president, Xi Jinping, has paid his first visit to Xinjiang in eight years, as western nations continue to accuse Beijing of genocide against the region’s mostly Muslim Uyghur population.

State media reported on Friday that the visit from Tuesday to Thursday included stops at a university and a trade zone in the regional capital, Urumqi. A photo from the official Xinhua news agency showed a maskless Xi surrounded by smiling and clapping residents, many of them apparently Uyghurs wearing traditional costumes and Muslim prayer caps.

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Burberry sales fall 35% in China on back of Covid lockdowns

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Lola handbag range and signature trenchcoat give luxury fashion retailer boost elsewhere

Burberry has reported sales growth of only 1% in its latest financial quarter because of the impact of Covid-19 lockdowns in China, while sales were boosted elsewhere by its Lola handbag range and signature trenchcoat.

The luxury fashion retailer said sales fell 35% in mainland China because of restrictions and store closures to contain the latest outbreak of the coronavirus, while sales grew 16% across the rest of the world in the 13 weeks to 2 July.

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China’s economic growth slumps sharply after Covid lockdowns

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Shutdown of cities takes its toll, while property market remains in crisis and global outlook darkens

China’s economic growth has slowed sharply in the second quarter of the year, official data showed on Friday, highlighting the colossal toll from widespread Covid lockdowns and casting doubt over whether its pre-ordained growth target can be met.

Output contracted by 2.6% between April and June compared with the previous quarter, the statistics bureau said, prompting many economists to revise their predictions for the world’s second biggest economy.

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Four Hong Kong men arrested while trying to flee to Taiwan

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Police said men, including one shot by officer in 2019 protest, had been hiding from law enforcement

Four Hong Kong men, including one shot by the police during the 2019 protests in Tsuen Wan and later charged with rioting, have been arrested as they attempted to leave the city for Taiwan.

The police said the four, aged 16 to 24, were intercepted at a bus terminal near a ferry pier before dawn on Wednesday.

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Shanghai declares third rare extreme heat warning of summer

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Temperatures of over 40C cause red alert in the city and test records as heatwave ravages parts of Europe

China’s most populous city, Shanghai, has issued its highest alert for extreme heat for the third time this summer as sweltering temperatures repeatedly tested records this week.

The commercial and industrial hub of 25 million people declared a red alert on Thursday, warning of expected temperatures of at least 40C (104F) in the next 24 hours. Temperatures soared as high as 40.6 C in the afternoon but fell short of Wednesday’s 40.9 C, which matched a 2017 record.

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Australian PM Albanese ‘very confident’ there will be no Chinese bases in Solomon Islands

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Prime minister Anthony Albanese’s comments come after meeting with Solomons leader at Pacific Islands Forum and despite Pacific nation’s security pact with China

The Australian prime minister, Anthony Albanese, has said he is “very confident” there will not be Chinese bases in Solomon Islands, despite the two countries’ security pact.

Albanese made the comments from Fiji, where he is attending the Pacific Islands Forum in a bid to reset relations with Pacific neighbours by outlining higher ambitions on climate change and asking for Australia to remain the region’s security partner of choice, not China.

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‘We are family’: Anthony Albanese meets Solomon Islands PM amid tension over China deal

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Manasseh Sogavare says relationship with Australia is ‘strong’ despite his recent security pact with Beijing

Anthony Albanese has met with the Solomon Islands prime minister in Suva to discuss their common interests of climate change and regional security issues, despite recent tensions between the two nations over China.

It is the first time that Albanese has met Manasseh Sogavare. The relationship between the countries has become increasingly tense since the signing of the controversial security pact with China earlier this year, but ahead of the meeting Albanese reiterated the importance of the relationship and said it “will be even better after this afternoon”.

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Police remove two Chinese defence attaches from Pacific Islands Forum meeting

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Fijian police escort the men from media space where US vice-president Kamala Harris was making virtual address

Two Chinese defence attaches have been kicked out by Fijian police from a Pacific Islands Forum meeting at which the US vice-president, Kamala Harris, was giving a virtual address.

The men were sitting in on a session of the forum’s fisheries agency at which Harris announced the step-up of US engagement in the region, believed to be in response to China’s growing influence.

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Power struggle with China and regional rift in focus as Anthony Albanese heads to Pacific Islands forum

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Absence of Kiribati from the meeting is ‘really devastating’ to the body’s long-term strategy, security expert says

When Anthony Albanese touches down in Suva on Wednesday to attend his first Pacific Islands Forum, he will be walking in to a regional meeting that is putting on a brave face.

While it had been thought that the forum would be focused on the growing influence of China and as an opportunity for Australia to showcase its new climate credentials, Albanese will arrive to a group wrestling with other problems.

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Dangerous heatwaves engulf parts of China, US and Europe

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At least 86 Chinese cities issue alerts, while temperatures soar in south-west and central US and Iberian peninsula

Dangerous heatwaves are engulfing parts of China, Europe, south-west and central US this week, as dozens of cities have found themselves dealing with soaring summer temperatures.

By Tuesday afternoon, at least 86 Chinese cities in eastern and southern parts of the country had issued heat alerts. Chinese meteorologists forecast temperatures in some cities would top 40C (104F) in the next 24 hours.

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US announces new embassies in major Pacific push as it jostles with China for influence in region

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Vice-president Kamala Harris has announced postings in Kiribati and Tonga as leaders gather in Fiji for the Pacific Islands Forum

The US has announced a major step-up in its engagement with the Pacific region, including the establishment of new embassies in Kiribati and Tonga, in moves that will be seen as attempts to counter China’s growing influence in the region.

The US vice-president, Kamala Harris, made the announcement on Tuesday, as Pacific leaders gathered in Suva, Fiji for the Pacific Islands Forum, the most significant regional meeting.

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Protest in China over frozen bank accounts ends in violence

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Authorities says some customers will start getting their money back after angry crowd in Henan was broken up by heavy-handed security guards

A rare large-scale protest in China’s central Henan province has been violently broken up by unidentified security personnel, amid outcry over a financial scandal that has exposed the fragility of the country’s banking system.

A crowd of more than 1,000 protesters, according to some estimates, had gathered on Sunday in front of the Zhengzhou sub-branch of the People’s Bank of China to attempt to recover frozen savings held in rural banks.

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China influenced Kiribati exit from Pacific Islands Forum, MP claims

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Opposition leader calls withdrawal from PIF an ‘extreme move’ and claims the reasons offered by Kiribati’s president were just excuses

Kiribati’s decision to withdraw from the Pacific Islands Forum on the eve of the event was an extreme move driven by pressure from China, the Micronesian nation’s opposition leader says.

Tessie Lambourne, a former top diplomat who was elected to Kiribati’s parliament in 2020, said she was “shocked and extremely disappointed” by the government’s move to withdraw from the Pacific Islands Forum (PIF).

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Australia sees climate crisis as a national security issue, defence minister tells US

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Richard Marles delivers speech in US warning of increased militarisation in South China Sea and importance of climate action to Pacific allies

Australia’s defence minister, Richard Marles, has warned of the use of “force or coercion” in the South China Sea and “intensification of major power competition”, references to China’s rising power in the Indo-Pacific.

Marles made the comments in a speech to the Center for Strategic and International Studies on his visit to the US, committing Australia to closer cooperation with the US, higher defence spending and to address the climate crisis in part as a national security issue.

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