China In 3 Minutes

August 26: Mainland China and Taiwan sign tax, aviation deals; UN experts say China sold missiles to South Sudan

PUBLISHED : Wednesday, 26 August, 2015, 12:29pm
UPDATED : Wednesday, 26 August, 2015, 12:29pm

Politics and policy

Premier Li Keqiang, when he met Kazakhstan’s first deputy prime minister in Beijing, said there was no basis for the yuan currency to weaken further and the exchange rate would be maintained at a “basically stable” level. (AFP)

Police are investigating people connected to the China Securities Regulatory Commission, Citic Securities and Caijing magazine on suspicion of offences including illegal securities trading and spreading false information, in a step state media called “to purify” capital markets through stricter enforcement. (Bloomberg)

Delegates from mainland China and Taiwan signed two agreements on tax cooperation and aviation safety during a meeting in the eastern Chinese province of Fuzhou. The tax deal, which will reduce costs for enterprises and individuals, aims to encourage cross-Strait direct investments, while the civil aviation agreement will make flying safer and reduce civil aviation enterprises’ costs. (CCTV)


Diplomacy and defence

Chinese and US energy authorities are close to signing an agreement that would allow the two nations to share their results as they refine technologies to capture the greenhouse gases produced from burning coal to advance “clean coal” technologies. (AP)

A United Nations panel of experts says state-owned arms supplier China North Industries sold war-torn South Sudan's government 100 anti-tank guided missile launchers, 1,200 missiles, about 2,400 grenade launchers, nearly 10,000 automatic rifles and 24 million rounds of various types of ammunition. (AP)

Economy and business

The once-hot smartphone market in China is expected to cool this year, growing a meagre 1.2 per cent, according to a report released on Tuesday. The China smartphone market grew 19.7 per cent last year and accounted for nearly one-third of all new handsets shipped. (AFP)

China’s insurance companies made 15.4 trillion yuan (HK$18.5 trillion) from insurance premiums in the first seven months of this year, up 19.9 per cent from the year ago in the same period. (Shanghai Securities News)

Time Warner-owned studio Warner Bros. is in talks with China Media Capital, a state-backed investment fund focused on the entertainment industry, to form a joint venture that would produce local-language films. (The Wall Street Journal)



Rescue authorities updated the death toll from the Tianjin warehouse explosions to 135, with 38 still missing. All of the dead from the August 12 blast have been identified, including 81 firefighters and seven policemen. (CCTV)

Chinese teenager Wang Jianan made history as he became the first Asian to take a bronze medal in long jump at the Beijing athletics world championships on Tuesday. (Xinhua)