Category Archives: China

China’s Country Garden warns it could default on debt

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Property developer has about $200bn in liabilities and says its sales are ‘under remarkable pressure’

China’s largest private developer has warned it could default on its international debts, dealing another blow to the country’s embattled property industry.

Country Garden has about $200bn (£163bn) in liabilities and nearly $11bn in dollar-denominated offshore bonds. It has not defaulted so far, but has missed coupon payments on some dollar bonds since last month and faces the end of 30-day grace periods for making payments from next week.

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China to hold nationwide survey on population changes as birthrate plummets

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Poll comes as Beijing is urgently trying an array of measures to lift the country’s birth rate including financial incentives

China’s National Bureau of Statistics will conduct a nationwide sample survey in November to help better plan population policies, as authorities struggle to boost the country’s flagging birthrate.

Concerned about China’s first population drop in six decades and its rapid ageing, Beijing is urgently trying an array of measures to lift the country’s birthrate including financial incentives and boosting childcare facilities.

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Campaigners aim to lower support for China on UN human rights council

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Parliamentarians from 15 countries urge reduction in vote to signal disapproval of country’s crackdown on Uyghur population

An effort is under way to drive down the Chinese vote at the UN human rights council this week in an attempt to show continuing worldwide disapproval of its human rights record.

The elections on to the world’s premier human rights body take place by secret ballot on Tuesday with China guaranteed a seat in one of the uncontested seats from its region, but human rights campaigners are working to lower the level of Chinese support to show pressure on the country is not dissipating.

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US charges ex-intelligence officer with trying to give defence secrets to China

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FBI alleges former sergeant Joseph Daniel Schmidt tried to set up a meeting with Chinese consulate in Turkey

A former US army intelligence officer has been charged with attempting to provide classified defence information to the Chinese security services during the outbreak of the Covid-19 pandemic – including some listed in a Microsoft Word document titled “Important Information to Share with Chinese Government”.

Authorities on Friday arrested former sergeant Joseph Daniel Schmidt, 29, at San Francisco international airport as he arrived from Hong Kong, where he had been living since March 2020, the Justice Department said. A federal grand jury in Seattle returned an indictment on Wednesday charging him with retention and attempted delivery of national defence information.

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Closure of maternity wards fuels Chinese debate over population decline

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Recent shutdown of obstetrics units not officially linked with falling birth rate – but online commentators speculate

A number of hospital obstetrics units in China have closed, prompting discussion about the effects of China’s dramatically falling birthrate.

Several hospitals in Zhejiang province have reportedly closed or downsized their obstetrics units, along with hospitals in Jiangsu and Guangdong.

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Evergrande, the ‘runaway’ developer that could become a wrecking ball for China’s economy

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The regulatory crackdown that sparked arrests and a debt crisis in China’s second-biggest developer may do more harm than good to market, say analysts

The saga of China’s second-largest development firm has escalated from a financial crisis to a potentially criminal one with the investigation and detention of Evergrande chairman and founder, Hui Ka Yan.

The company resumed trading on Tuesday after it was suspended last week in the wake of media reports of Hui’s apprehension. But analysts say signs point to a potential liquidation of the company, which could have drastic ramifications for China’s economy too.

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Bondi businessman accused of selling secrets to China can only be accused of plagiarism, lawyers argue

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Lawyers for Alexander Csergo say a search using AI tools used to check plagiarism at universities verified his claim he provided open source material

Lawyers for a Bondi businessman accused of selling Australian secrets to China say simple artificial intelligence tools used to check for plagiarism at universities verified his claim he only provided publicly available information.

Alexander Csergo watched on via video link from Sydney’s Parklea prison on Wednesday as prosecutors told Downing Centre local court they would ask the federal attorney general’s department if it wanted to continue his case.

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Chinese censors block ‘Tiananmen’ image of athletes hugging

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Picture of athletes’ ‘6/4’ race numbers erased in perceived reference to 1989 massacre

A photograph of two Chinese athletes hugging after a race has been censored on Chinese social media because the women’s race numbers inadvertently formed a reference to the Tiananmen Square massacre in 1989.

Lin Yuwei and Wu Yanni, China’s entrants in the women’s 100m hurdles final, embraced after the race at the Asian Games in Hangzhou. Lin won gold in the race with a time of 12.74 seconds. A photograph of the two women in profile showed Lin’s lane number, 6, next to Wu’s lane number, 4.

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Timor-Leste president hits back at Australian criticism of new partnership with China

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José Ramos-Horta rejects concerns about plan that includes enhanced military engagement as ‘imagined Chinese ghosts’

Timor-Leste’s president has hit back at criticism of a new partnership between his country and China, which includes plans to enhance military engagement, accusing detractors of “imagining Chinese ghosts”.

José Ramos-Horta, serving as president for the second time, told the Guardian that both Timor-Leste and China were “confused” by the concerns raised over the upgrading of ties between the two countries to a “comprehensive strategic partnership” announced last week.

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Evergrande shares soar as trading in crisis-hit China firm resumes

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Stock was suspended after report billionaire founder Hui Ka Yan was under police surveillance

Shares in the embattled Chinese property developer Evergrande jumped after trading resumed in Hong Kong after their suspension last week.

Shares soared more than 40% early on and were later 20% ahead. Trading in Evergrande and its property services and electric vehicle subsidiaries was suspended on Thursday, after a Bloomberg report that the company’s billionaire chairman and founder, Hui Ka Yan, was under police surveillance. On Friday, the company said he was being investigated over suspected “illegal crimes”.

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Pro-China candidate Mohamed Muizzu wins Maldives presidency, upending relationship with India

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Runoff vote was widely seen as a referendum on whether to pursue closer ties with China or India, both vying for influence in the island nation

Pro-China candidate Mohamed Muizzu won Saturday’s presidential election in the Maldives, a result set to once again upend the archipelago’s relationship with traditional partner India.

Muizzu helms a party that presided over an influx of Chinese loans when it last held power in the atoll nation, better known for its luxury beach resorts and celebrity tourists.

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Maldives vote: runoff for presidency begins in shadow of India-China tussle for influence

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Pro-Delhi incumbent Ibrahim Mohamed Solih faces uphill battle against Beijing-leaning frontrunner Mohamed Muizzu as contest remains on knife’s edge

The Maldives started voting on Saturday to decide their next president, in an elections widely seen as a referendum on whether to hitch their fortunes to China or India, both vying for influence in the island nation.

Ibrahim Mohamed Solih, 61, faces an uphill battle to secure a second mandate after a term that saw renewed ties with New Delhi, the archipelago’s traditional benefactor.

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Maldives election run-off pitched as fork in the road between India and China

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Pro-China presidential candidate Mohamed Muizzu accuses incumbent Mohamed Solih of allowing traditional benefactor India too much influence

As the archipelago of the Maldives goes to an election run-off on Saturday, it will not just be two presidential candidates on the ballot.

This election is being pitched as a larger geopolitical battle between India and China, which over the past decade have been engaged in a tug-of-war to gain influence over the Maldives.

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China’s manipulation of media threatens global freedoms, says US report

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Censorship, data harvesting and purchases of foreign news outlets could lead to ‘sharp contraction’ of freedom of expression

China is manipulating global media through censorship, data harvesting and covert purchases of foreign news outlets, according to a new report from the US state department, which warned the trend could lead to a “sharp contraction” of global freedom of expression.

The report released on Thursday found that Beijing had spent billions of dollars annually on information manipulation efforts, including by acquiring stakes in foreign media through “public and non-public means”, sponsoring online influencers and securing distribution agreements that promote unlabelled Chinese government content.

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Evergrande founder ‘being investigated for suspected crimes’

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Chinese group’s statement about chair Hui Ka Yan piles on the woe for once top-selling property developer

The founder of China’s Evergrande is being investigated over suspected “illegal crimes”, the group has said, as creditors become increasingly concerned about the prospects of the world’s most indebted property developer.

Evergrande Group, which has more than $300bn (£245bn) in total liabilities, did not say whether Hui Ka Yan was still in a position to run the company, or what crimes he was being investigated for.

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Evergrande halts share trading as woes mount for China’ property giant

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Suspension comes a month after developer resumed trading and follows its chair reportedly being put under police surveillance

Embattled Chinese property giant Evergrande has suspended share trading on the Hong Kong stock exchange only a month after it resumed trading after a 17-month suspension.

Trading in its two other units – the property services and electric vehicle groups – also stopped at 9am on Thursday, according to notices posted by the stock exchange.

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Solomon Islands prime minister says US must respect Pacific leaders

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Manasseh Sogavare hits out at US after skipping Biden summit as $200m in funding for Pacific nations draws criticism for ‘trying to play catch up’

The prime minister of Solomon Islands has criticised Washington, saying the US must respect Pacific leaders, after Joe Biden pledged $200m for the region in an effort widely seen as a push against China’s growing presence.

Biden hosted a group of Pacific leaders at a summit in Washington this week, after a similar meeting a year earlier.

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Chair of China’s Evergrande reportedly put under police surveillance

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Another missed bond payment raises doubts over future of world’s most indebted property developer

The chair of China’s Evergrande Group has reportedly been put under police surveillance as another missed bond payment casts further doubt over the future of the world’s most indebted property developer.

Hui Ka Yan, who founded Evergrande in 1996, was taken away earlier this month and is being monitored at a designated location, according to Bloomberg.

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Military exercises near Taiwan aimed at combating ‘arrogance’ of separatists, says China

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Increased frequency of Chinese drills has raised the risk of events ‘getting out of hand’, the island’s defence minister said

China’s government has said that recent drills near Taiwan were aimed at combating the “arrogance” of separatist forces, after Taipei reported a rise in military activity in recent weeks, including exercises on land facing the island.

Taiwan, which China claims as its own territory – a claim Taipei rejects – has said this month that it had observed dozens of fighters, drones, bombers and other aircraft, as well as warships and the Chinese aircraft carrier Shandong, operating nearby.

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China, Japan and South Korea agree talks to calm fears over US ties

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Trilateral discussions to resume in response to Beijing’s fears over growing US influence in region

The leaders of China, Japan and South Korea will hold three-way talks “as soon as possible” after a meeting intended to ease Chinese concerns over Washington’s stronger security presence in the region.

Official said on Tuesday that the three countries’ deputy foreign ministers had agreed to revive trilateral talks after a four-year hiatus during which tensions have risen over North Korea’s nuclear weapons programme and Chinese military activity.

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