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luosifen

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China decides to grant zero-tariff treatment to 10 LDCs

By GT staff reporters Published: Nov 09, 2022 08:47 PM


Honey products from Zambia are presented in the exhibition area for food and agricultural products at the 5th China International Import Expo on November 7, 2022. China-Africa agricultural trade has been growing steadily, with an average rise of 11.4 percent in China's imports of African farm products over the past five years, and China has become the second-largest destination for African agricultural exports. Photo: Xinhua

Honey products from Zambia are presented in the exhibition area for food and agricultural products at the 5th China International Import Expo on November 7, 2022. China-Africa agricultural trade has been growing steadily, with an average rise of 11.4 percent in China's imports of African farm products over the past five years, and China has become the second-largest destination for African agricultural exports. Photo: Xinhua

China will grant zero-tariff treatment to 98 percent of taxable items originating in 10 least-developed countries (LDC), according to a statement released by the Customs Tariff Commission of the State Council on Wednesday.

Experts said the move will raise China's imports from LDCs, especially those in Africa, and promote economic and trade cooperation.

Effective on December 1, China will waive all tariffs on 98 percent of the related imports from Afghanistan, Benin, Burkina Faso, Guinea-Bissau, the Kingdom of Lesotho, Malawi, Sao Tome and Principe, Tanzania, Uganda and Zambia.

The policy will cover 8,786 items, including agricultural products such as olive oil, cocoa powder and nuts, as well as various chemicals and product materials.

The policy is conducive to opening up with a win-win approach, building an open economy in the world, and helping LDCs to accelerate their economic development, the statement said.

Prior to this move, the commission announced plans to offer zero-tariff treatment for 98 percent of currently taxable products imported from 16 of the LDCs including Togo, Djibouti, Laos and Rwanda, which came into force on September 1.

The treatment is expected to give a strong boost to the export growth of African countries to China, experts said.

The move will further promote China-Africa economic and trade cooperation, and help African products explore the Chinese market, He Wenping, director of the African Studies Section at the Institute of West Asian and African Studies under the Chinese Academy of Social Sciences, told the Global Times on Wednesday.

He added that it is a practical move for China, which has planned to import $300 billion of products from Africa in the next three years.

At the eighth Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC) in 2021, China announced plans to set up a green lane for African agricultural products to enter the Chinese market, expand the range of products covered by zero-tariff treatment and import $300 billion worth of products from Africa in the following three years, the Xinhua News Agency reported.

China-Africa economic cooperation has expanded rapidly in scale and extent. Over the past five years, China's imports of African agricultural products have grown at an average annualized rate of 11.4 percent, making China the second-largest export destination for African agricultural products, according to the Xinhua report.

In 2021 China imported $5.03 billion of agricultural products from Africa, a year-on-year increase of 18.23 percent, reaching a record high.

From January to October, bilateral trade between China and Africa grew 14.3 percent year-on-year to reach over $236 billion, according to figures released by the General Administration of Customs on Monday.
 

luosifen

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2022-11-07 14:22:39Xinhua Editor : Li Yan
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A China-made large tunnel-boring machine has recently rolled off the production line in north China's Tianjin Municipality, heading for Türkiye in December.
With 11.16 meters in diameter, the tunnel-boring machine, independently developed and produced by China Railway Engineering Equipment Group (Tianjin) Co., Ltd (CREG), will be the largest one in diameter exported from China to Türkiye, according to the company.
The machine will function in a Turkish drainage tunnel project to provide water for farming and residents and improve locals' living standards. Its fire resistance, explosion-proof, and stability have been strengthened as the tunnel is located in a stratum with high concentration of gas under complex geological conditions, to ensure the safety during the excavations.
Tunnel-boring machines made by CREG have been exported to more than 30 countries and regions for major projects. These countries include France and Lebanon, said Zhao Hua, the chairman of CREG, adding that the China-made tunnel-boring machines are actively serving tunnel construction projects globally.
 

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China's current account surplus stood at a record $310.4 billion in the first three quarters of 2022, up 56 percent year on year, official data showed Friday.

The ratio of the current account surplus against the gross domestic product of the same period was 2.4 percent, which is within a reasonable and balanced range, said the State Administration of Foreign Exchange.

Of the total, the surplus under trade in goods increased 37 percent year on year to hit a record $521.6 billion, while the deficit under trade in services narrowed by 23 percent, the data showed.

Direct investment logged a net inflow of $46.9 billion, according to the administration.

The Chinese economy retains its robustness, huge potential and sound long-term fundamentals, and its recovery is gaining ground, which will help underpin the country's balance of payments, said Wang Chunying, deputy head of the administration.
 

luosifen

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2022-11-10 03:50:39Xinhua Editor : Wang Fan
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The value of China's digital economy reached 45.5 trillion yuan (about 6.3 trillion U.S. dollars) in 2021, accounting for 39.8 percent of the country's GDP, according to a report released by the Chinese Academy of Cyberspace Studies on Wednesday.
The digital economy has become an important cornerstone of China's stable economic development, said the China Internet Development Report 2022, which was released during the 2022 World Internet Conference (WIC) Wuzhen Summit, held in the water-town of Wuzhen, in east China's Zhejiang Province.
In addition to the above report, the summit also released another report titled "World Internet Development Report 2022." It says the added value of the digital economy in 47 countries around the world reached 38.1 trillion U.S. dollars in 2021, with an increase of 15.6 percent year-on-year.
The digital economy has become an important engine driving global economic recovery, said the report.
Themed "Towards a Shared Digital Future in a Connected World -- Building a Community with a Shared Future in Cyberspace," this year's summit was attended by more than 2,100 guests from over 120 countries and regions, both in person and online. The reports have been released for six consecutive years since 2017 as an important part of the summit.
 

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Beijing’s ties with countries now in ASEAN tend to bend the bamboo way: soft, clever, persistent and enduring

by Pepe Escobar November 10, 2022

The Association of Southeast Asian Nations is monopolizing the Asian and Global South spotlight for no fewer than 10 days, this week and the next, across a flurry of regional and international summits.

First stop is Phnom Penh for the 25th China-ASEAN summit, the 25th ASEAN Plus Three (APT) summit, and the 17th East Asia Summit, all the way to Sunday.

Next week will be Bali for the Group of Twenty, followed by Bangkok for the APEC (Asia-Pacific Economic Cooperation) summit.

No wonder the diplomatic spin across Southeast Asia is all about global governance entering the “Asia moment” – as coined by Chinese Foreign Minister Wang Yi. It’s a moment that may be set to last a century – and beyond.

In parallel, Chinese diplomacy is also predictably on a roll. Premier Li Keqiang – who will step down next March, after two terms in office – heads Beijing’s delegation in Cambodia after two key Southeast Asian interactions: the visit by Vietnamese leader Nguyen Phu Trong to China and Chinese Vice-Premier Han Zheng’s visit to Singapore.

All that fits the pattern of increasing China-Southeast Asia integration. Since 2020, ASEAN has been China’s largest trading partner. China has been ASEAN’s top trading partner since 2009. China-ASEAN investment was more than US$340 billion by last July, according to the Ministry of Commerce in Beijing.

Interests particularly converge on deepening RCEP – the Regional Comprehensive Economic Partnership, the largest trade deal on the planet. That translates in practice as closer integration of supply chains, infrastructure connectivity and the building of a new international land-sea trade corridor.

So it’s no wonder all the slogans for these 10 days of summits reflect closer integration. The ASEAN 2022 theme is “ASEAN A C T: Addressing Challenges Together.” The Indonesians defined the G20 as “Recover Together, Recover Stronger.” And the Thais defined APEC as “Open. Connect. Balance.”
Now bend that bamboo

Timing is everything. After the Communist Party Congress defined the parameters of “peaceful modernization” and how Beijing will develop globalization 2.0 with Chinese characteristics, diplomacy was ready to go on the offensive. And not only across Southeast Asia.

On South Asia, Beijing hosted Pakistani Prime Minister Shehbaz Sharif. Regardless of who holds power in Islamabad, Pakistan remains strategically crucial, with the China-Pakistan Economic Corridor (CPEC) connecting to the Western Indian Ocean, the Persian Gulf, the Red Sea and beyond toward Europe.

Pakistan cannot be left to implode under severe financial constraints. So it’s no wonder that Xi Jinping promised that “China will continue to do its best to support Pakistan in stabilizing its financial situation.”

They were very specific on CPEC: Priorities are the construction of auxiliary infrastructure for Gwadar port in the Arabian Sea and to upgrade the Karachi Circular Railway project.

On Africa, Beijing hosted Tanzanian President Samia Suluhu.

Beijing is constantly inviting African leaders to discuss trade and investment in a “South-South” format. So it’s no wonder the Chinese find receptivity to their ideas and necessities to an extent that’s absolutely out of the question in the West.

China-Tanzania is now a “comprehensive strategic cooperative partnership.” This is quite significant, because now Tanzania is on the same level as Vietnam and Cambodia, as well as Kenya, Zimbabwe and Mozambique, in China’s ultra-complex “friendship” hierarchy. Tanzania, incidentally, is a crucial source of soybeans.

On Europe, Beijing received German Chancellor Olof Scholz for a lightning-fast visit, leading a caravan of business executives. Beijing may not “save” Berlin from its current self-enforced predicament; at least it’s clear that German business will not go for “decoupling” from China.

It’s crucial to remember that Vietnam, Pakistan and Tanzania are all key partners in the Belt and Road Initiative (BRI). And the same applies to Germany: The Ruhr Valley is the privileged Belt and Road terminal in the European Union.

All that leaves the Quad, AUKUS, the “Indo-Pacific Framework” and the “Partners for a Blue Pacific” – different denominations of isolation/demonization of China – trailing in the dust. Not to mention the imperial drive to impose “decoupling.”

Beijing knows full well Singapore’s role as the essential Southeast Asian finance/tech node. Hence the signing of 19 bilateral deals, some related to high tech.

But as far as optics go, the key visitor may have been Vietnam. Forget about their South China Sea tensions. For Beijing, what matters is that Nguyen Phu Trong came to visit immediately after the Communist Party conference – somehow echoing the centuries-old tribute system. Hanoi may have no interest whatsoever in being strategically dominated by Beijing. But demonstrating respect – and neutrality – is the Asian diplomatic way to go.

Trong made a point to note that “Vietnam considers its friendly cooperation with China the first priority of its foreign policy.”

That may not necessarily mean that Hanoi is privileging Beijing over Washington. The meaning of “first priority” seems to be clear: China and Vietnam agreed to turbocharge work on the Code of Conduct for the South China Sea. That also happens to be a key Chinese priority – as it keeps the process as an inter-Asian matter without the predictable “foreign interference.”

It was Trong himself who first came up with the fascinating idea of “bamboo diplomacy“: soft, clever, persistent and resolute. The concept may be easily applied to the whole of China-Southeast Asian relations.

This week in Phnom Penh, there are serious discussions on deepening the RCEP; problems on the food and energy front; and speeding up the negotiation of what is billed as the 3.0 version of the China-ASEAN Free Trade Area.

All that involves a key issue: the interconnection of BRI projects and ASEAN’s so-called Outlook on the Indo-Pacific – a series of ASEAN development strategies.

A good example is the endless high-speed-rail saga related to connecting Yunnan province in southern China to Singapore.

The building of the Thai section was proposed even ahead of the Laos section. Yet Kunming-Vientiane was ready in record time – and is rolling – while the Thais have been endlessly haggling and lost in corruption and internal infighting: Only part of their section at best will be finished by 2028.

The same applies to Malaysia and Singapore still not finding an agreement. This is the case of a key connectivity corridor across Southeast Asia hobbled by internal and bilateral trouble. In parallel, the construction of the Jakarta-Bandung high-speed railway has proceeded with only a few bumps.

As much as China and ASEAN established an official comprehensive strategic partnership in 2021, several key BRI projects are intimately connected to Southeast Asia. After all, Xi Jinping launched the Maritime Silk Road concept in Jakarta more than nine years ago.

The same applies to solving the seemingly intractable issues of the South China Sea. The Declaration on the Conduct of Parties in the South China Sea was signed by Beijing and ASEAN 20 years ago.

In geopolitical terms, the 10-headed ASEAN hydra is a unique beast: a living lab of peaceful – civilizational – co-existence.

Trade has always been the secret weapon. It has always been a two-way road between China and Southeast Asia. History tells us that the willingness of Southeast Asian rulers to submit – even if symbolically – to China explains the predominant Make Trade Not War ethos.

The main exception was Vietnam, occupied by China from 111 BC until AD 963-979. But even as Vietnam became independent from China a millennium ago, it always remained deeply influenced by Chinese culture. In contrast, the Chinese who were assimilated into Thai culture gave up Confucianism and ended up adopting Indian court rituals.

In parallel, as Professor Wang Gungwu in Singapore always noted, paying tribute and requesting protection from the Chinese imperial dynasties never meant that Beijing could do what it wanted across Southeast Asia.

In the current incandescent geopolitical juncture, China is definitely not interested in playing divide and rule in Southeast Asia. Chinese strategic planners seem to understand that ASEAN carries a lot of soft power smoothing the big power play across Southeast Asia, offering a platform for all to engage with each other.

No one seems to mistrust ASEAN. That also explains why the Southeast Asians have come up with an acronym fest that basically hails cooperation – from ASEM and ASEAN+3 to APEC.

So it’s enlightening to remember that “China is prepared to open itself to ASEAN countries,” as Xi himself said when he launched the Maritime Silk Road in Jakarta in 2013. “China is committed to greater connectivity with ASEAN countries” – and “China will propose the establishment of an Asian infrastructure investment bank that would give priority to ASEAN countries’ needs.”

The bilateral relationships between China and each of the 10 members of ASEAN may carry their own particular complications. But there seems to be a consensus that no bilateral will determine the future of China-Southeast Asian relations.

The discussions this week in Phnom Penh and next week in Bali and Bangkok suggest that Southeast Asia has ruled out either extreme: paying tribute or demonizing China.

Across Southeast Asia the Chinese diaspora has been informally referred to for decades as “the bamboo internet.” The same metaphor would apply to China-Southeast Asia diplomacy: Gotta go the bamboo way. Soft, clever, persistent – and enduring.
 

supercat

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China will continue to open up.

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