https://www.scmp.com/rss/500548/feed The initiative spearheaded by the Chinese government and endorsed by President Xi Jinping in late 2013 aims to improve trade and economic integration across Asia, Europe, and Africa. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com The United States and some Western nations may have banned Chinese technology giant Huawei because of security concerns, but the Chinese telecoms giant is continuing to widen its reach in Africa. Senegal this week became the latest African nation to announce that it would move its government data and digital platforms to a Chinese-funded data centre built by the telecoms giant. Senegalese President Macky Sall, who was joined by the Chinese ambassador Xiao Chan for the opening of the centre on... https://www.scmp.com/news/china/diplomacy/article/3138917/african-nations-continue-put-trust-huawei-data-management?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3138917/african-nations-continue-put-trust-huawei-data-management?utm_source=rss_feed Sun, 27 Jun 2021 22:00:32 +0000 China, which has pledged that projects built under its Belt and Road Initiative will be green and sustainable, will fund more fossil fuel power projects in Southeast Asia even as western, Japanese and South Korean financiers increasingly walk away from them over sustainability concerns. This will be the case until the host nations – such as Indonesia – have come up with good enough financial incentives and expanded power transmission and distribution infrastructure to make mass renewable energy... https://www.scmp.com/business/article/3027792/chinese-firms-build-more-coal-power-plants-asia-despite-beijings-pledge?utm_source=rss_feed https://www.scmp.com/business/article/3027792/chinese-firms-build-more-coal-power-plants-asia-despite-beijings-pledge?utm_source=rss_feed Wed, 18 Sep 2019 03:35:46 +0000 The social unrest plaguing Hong Kong will not prevent the city from playing a significant role in China’s development and its plan to grow global trade links, said business leaders at the Belt and Road Summit. “Hong Kong remains and will continue to play a very unique role in China’s continued development, and also more importantly, in the Belt and Road Initiative [in terms of] our professional services, legal system but also our financial centre,” said Victor Chu, chairman and chief executive... https://www.scmp.com/business/banking-finance/article/3026780/social-unrest-wont-stop-hong-kong-playing-key-role-chinas?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3026780/social-unrest-wont-stop-hong-kong-playing-key-role-chinas?utm_source=rss_feed Wed, 11 Sep 2019 12:00:09 +0000 The ongoing US-China trade war and Beijing’s commitment to adopt internationally recognised best financial practices will lead to more infrastructure projects in countries covered by the Belt and Road Initiative, according to Standard Chartered. The global bank, which serves Chinese clients’ project financing needs in 45 markets across belt and road, expects continued growth in business this year despite earlier criticism that some projects have mired host nations in “debt traps” because of... https://www.scmp.com/business/companies/article/3010819/us-china-trade-war-financial-transparency-spur-more-belt-and?utm_source=rss_feed https://www.scmp.com/business/companies/article/3010819/us-china-trade-war-financial-transparency-spur-more-belt-and?utm_source=rss_feed Sun, 19 May 2019 23:30:13 +0000 When Chinese President Xi Jinping made a commitment last weekend to ensure his pet “Belt and Road Initiative” operated in line with international norms and standards it was widely seen as a response to mounting suspicion and criticism of the multibillion-dollar trade and infrastructure scheme. While it was unusual for him to address such concerns so publicly, his closing speech at the second Belt and Road Forum in Beijing was intended to do much more than appease the critics, analysts said.... https://www.scmp.com/news/china/diplomacy/article/3008901/can-china-really-take-high-road-its-big-bold-infrastructure?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3008901/can-china-really-take-high-road-its-big-bold-infrastructure?utm_source=rss_feed Sun, 05 May 2019 12:30:09 +0000 “Speech is the faculty by which men conceal their thoughts,” the legendary Napoleonic diplomat, Charles Maurice de Talleyrand-Périgord, once observed. In many ways, Philippine President Rodrigo Duterte’s latest visit to China, his fourth in less than three years, illustrated Talleyrand’s reflections on talk. His stopover was filled with cordial rhetoric that concealed simmering tensions in the budding alliance. Though in Beijing to attend the second Belt and Road Forum, the Philippine leader... https://www.scmp.com/news/china/diplomacy/article/3008642/how-philippine-president-rodrigo-dutertes-stubborn-pivot-china?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3008642/how-philippine-president-rodrigo-dutertes-stubborn-pivot-china?utm_source=rss_feed Sat, 04 May 2019 07:01:25 +0000 The dark clouds over Hong Kong’s trade sector will not go away overnight, even if a breakthrough is imminent in the US-China trade war, the city’s commerce minister has warned. Edward Yau Tang-wah, secretary for commerce and economic development, said there was little confidence in the industry that it could return to how things were before, “as if nothing had happened”. US media reports indicated that Beijing and Washington could reach a deal to end the trade war, which has gone on for almost a... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3008724/hong-kong-not-out-woods-yet-despite-signs-us-china?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3008724/hong-kong-not-out-woods-yet-despite-signs-us-china?utm_source=rss_feed Fri, 03 May 2019 23:15:04 +0000 The United States has stepped up its attacks on China’s Belt and Road Initiative claiming Washington offers a better option through “transparent, free and fair trade deals”. ShareAmerica, a website managed by the Department of State to promote US policy and culture, warned in a new video that as China pushes the initiative, countries should be careful “not to get caught in China’s belt and road debt trap”. The video – which has been subtitled in six other languages, including Chinese – repeated... https://www.scmp.com/news/china/diplomacy/article/3008640/us-steps-belt-and-road-offensive-saying-it-offers-fairer-deals?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3008640/us-steps-belt-and-road-offensive-saying-it-offers-fairer-deals?utm_source=rss_feed Thu, 02 May 2019 16:30:13 +0000 This story is published in a content partnership with POLITICO. It was originally reported by Parag Khanna on politico.com on April 30, 2019. Last week, leaders and officials representing more than three dozen countries from across the world gathered in Beijing for the second belt and road summit. The event marks the two-year anniversary since China first convened its flagship initiative to coordinate trillions of dollars of infrastructure across Eurasia and the Indian Ocean in a broad effort to... https://www.scmp.com/comment/insight-opinion/article/3008492/washington-dismissing-chinas-belt-and-road-plan-thats-huge?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/3008492/washington-dismissing-chinas-belt-and-road-plan-thats-huge?utm_source=rss_feed Wed, 01 May 2019 18:49:26 +0000 Beijing’s pledge of US$90 million in support of Cambodia’s defence sector was among at least nine deals the Southeast Asian nation signed with China last week during the second Belt and Road Forum. The deals reaffirmed Phnom Penh’s close ties with the superpower, moving it further away from its major development partner, the European Union. Besides the defence funding, China agreed to up its imports of rice from 300,000 tonnes to 400,000 tonnes, and announced plans to launch a second phase of... https://www.scmp.com/news/asia/southeast-asia/article/3008451/chinese-investment-cambodia-bringing-phnom-penh-closer?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3008451/chinese-investment-cambodia-bringing-phnom-penh-closer?utm_source=rss_feed Wed, 01 May 2019 10:16:56 +0000 The United States, the largest potential new supply of natural gas on earth, may have to contend with a formidable competitor in the Arctic Circle, after Russia’s second-biggest producer Novatek’s agreement last week to sell 20 per cent of its Yamal Peninsula project to Chinese state oil companies. The deals with CNOOC and China National Petroleum Corp – the parent of listed PetroChina – were announced at last week’s Belt and Road Initiative forum in Beijing. They are pending due diligence and... https://www.scmp.com/business/article/3008335/russias-plans-artic-gas-may-be-alternate-source-chinas-energy-needs-sate?utm_source=rss_feed https://www.scmp.com/business/article/3008335/russias-plans-artic-gas-may-be-alternate-source-chinas-energy-needs-sate?utm_source=rss_feed Tue, 30 Apr 2019 22:00:11 +0000 China is inclined to renegotiate or write off debts incurred by other countries for its belt and road infrastructure projects and only rarely seizes assets, a study by a New York consultancy has found. The Rhodium Group’s research looked at 40 cases of external debt renegotiation between 2007 and this year and found there was only one confirmed case of asset seizure – in Sri Lanka. The conclusions, based on the studies of Chinese debt renegotiations with 24 countries in Asia, Africa and Latin... https://www.scmp.com/news/china/diplomacy/article/3008326/why-chinas-belt-and-road-loans-may-not-be-debt-trap-other?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3008326/why-chinas-belt-and-road-loans-may-not-be-debt-trap-other?utm_source=rss_feed Tue, 30 Apr 2019 12:30:14 +0000 Trying to dispel foreign skepticism over its Belt and Road initiative, Beijing held a three-day summit last week gathering foreign leaders and delegates from 150 countries. But traffic woes, poor organization and tight media control during the forum – China’s most important diplomatic event of the year – have raised questions over its ability to project soft power. Poor organization Lack of a clear schedule often left attendees either waiting for hours on end or scrambling to catch up after an... https://www.scmp.com/china/chinas-belt-and-road-party-was-poorly-organized-and-tightly-controlled/article/3008139?utm_source=rss_feed https://www.scmp.com/china/chinas-belt-and-road-party-was-poorly-organized-and-tightly-controlled/article/3008139?utm_source=rss_feed Mon, 29 Apr 2019 10:13:04 +0000 Facing criticism from Washington over its global trade and infrastructure plan, Beijing has identified a number of star projects it says can produce fast results and show the benefits of its “Belt and Road Initiative”. They appeared in a joint statement signed by China and 37 other countries at the end of the three-day Belt and Road Forum in Beijing on Saturday. And they also featured in a report issued by the Office of the Leading Group for Promoting the Belt and Road Initiative – the top body... https://www.scmp.com/news/china/diplomacy/article/3008020/china-seeks-prove-critics-wrong-star-belt-and-road-projects?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3008020/china-seeks-prove-critics-wrong-star-belt-and-road-projects?utm_source=rss_feed Mon, 29 Apr 2019 02:00:13 +0000 Indonesia has found China’s openness to its feedback on improving the Belt and Road Initiative highly encouraging” and is forecasting multibillion-dollar investments by Chinese firms in four regions earmarked as future growth drivers, the country’s investment minister Tom Lembong said. Lembong, who heads the Indonesian Investment Coordinating Board (BKPM), said one suggestion he gave Beijing was to involve professionals who could structure fair and financially viable deals for its ambitious plan... https://www.scmp.com/week-asia/geopolitics/article/3008036/indonesia-forecasts-multibillion-dollar-belt-and-road?utm_source=rss_feed https://www.scmp.com/week-asia/geopolitics/article/3008036/indonesia-forecasts-multibillion-dollar-belt-and-road?utm_source=rss_feed Mon, 29 Apr 2019 00:30:19 +0000 Djibouti, a remote country at the Horn of Africa, is at the heart of China’s multibillion-dollar “Belt and Road Initiative”, supporting Beijing’s juggling of commercial and military objectives amid Western suspicions about its motives. The initiative – which aims to strengthen the infrastructure of land and sea routes linking Asia, Europe and Africa – is largely commercial in nature, but it has also triggered the need for China to bolster its military presence to protect its growing interests... https://www.scmp.com/news/china/diplomacy/article/3007924/how-tiny-african-nation-djibouti-became-linchpin-chinas-belt?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007924/how-tiny-african-nation-djibouti-became-linchpin-chinas-belt?utm_source=rss_feed Sun, 28 Apr 2019 04:00:14 +0000 Only 1 in every 100 durians sold in China now comes from Malaysia and the country is on a mission to ramp up its market share in the stinky fruit that is both revered and reviled around the world. Malaysia is expected to be allowed to export whole, frozen durians to China in a few months’ time after a change in Chinese policy, and its businessmen are gearing up to break Thailand’s durian dominance there. On the sidelines of the Belt and Road Forum in Beijing, several companies affiliated with... https://www.scmp.com/week-asia/economics/article/3007963/malaysia-gears-serve-spiking-chinese-demand-durians-and-rupture?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3007963/malaysia-gears-serve-spiking-chinese-demand-durians-and-rupture?utm_source=rss_feed Sun, 28 Apr 2019 02:30:13 +0000 China’s “Belt and Road Initiative” continues to evolve, occasionally assuming serpentine form as its transport linkages snake their way across Europe and Asia, and sometimes chameleon-like in adapting to different situations. But none of this can disguise the fundamental conflicts between the world’s great powers provoked by the belt and road plan. That was apparent last week during the second Belt and Road International Forum in Beijing, and it will be a source of real, if disguised, tension... https://www.scmp.com/business/money/article/3007873/great-game-belt-and-road-global-competition-resources-strategic?utm_source=rss_feed https://www.scmp.com/business/money/article/3007873/great-game-belt-and-road-global-competition-resources-strategic?utm_source=rss_feed Sun, 28 Apr 2019 02:00:15 +0000 Chinese President Xi Jinping on Saturday vowed to stick to international rules and standards as he appealed for more countries and global financial institutions to join Beijing’s controversial trade and infrastructure scheme. In a subtle shift since he launched the “Belt and Road Initiative” six years ago, Xi’s pledges over the past two days on debt sustainability, environmental protection and corruption control show Beijing is trying to expand its policy by paying heed to international... https://www.scmp.com/news/china/diplomacy/article/3007972/xi-jinping-makes-plenty-promises-belt-and-road-plan-can-china?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007972/xi-jinping-makes-plenty-promises-belt-and-road-plan-can-china?utm_source=rss_feed Sat, 27 Apr 2019 22:00:13 +0000 Despite growing criticism of China’s “Belt and Road Initiative” from the United States and its allies, the message from Beijing on Saturday was clear: the multibillion-dollar trade and infrastructure development plan is alive and well and gaining support. As the second Belt and Road Forum drew to a close, the leaders of 37 countries joined Chinese President Xi Jinping in signing a joint communique promising to work together as the global project enters its next phase. At the inaugural forum in... https://www.scmp.com/news/china/diplomacy/article/3007967/chinas-belt-and-road-forum-ends-more-support-and-us64-billion?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007967/chinas-belt-and-road-forum-ends-more-support-and-us64-billion?utm_source=rss_feed Sat, 27 Apr 2019 13:50:47 +0000 Malaysia’s resumption of a billion-dollar Chinese-backed rail project and its enthusiasm for telecoms group Huawei underscores its interest in doing deals with China that promote fair trade and job creation, Trade Minister Darell Leiking said on Saturday. Leiking said his government’s request after coming to power last May for a review of the East Coast Rail Link (ECRL) project price had been, on occasion, misrepresented as distaste for the Belt and Road Initiative, China’s ambitious plan to... https://www.scmp.com/week-asia/politics/article/3007959/malaysias-revived-deals-china-proves-its-support-belt-and-road?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3007959/malaysias-revived-deals-china-proves-its-support-belt-and-road?utm_source=rss_feed Sat, 27 Apr 2019 11:47:50 +0000 Traffic woes, poor organisation and tight media control during China’s most important diplomatic event of the year have again raised questions over its ability to project soft power. While Beijing attempted to dispel foreign fears over its “Belt and Road Initiative” and cement its legitimacy as a global development programme during the three-day forum, which ends on Saturday, its attempts at soft power fell flat for many of those attending. Lack of a clear schedule often left attendees either... https://www.scmp.com/news/china/diplomacy/article/3007953/can-china-do-soft-power-poorly-organised-yet-tightly?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007953/can-china-do-soft-power-poorly-organised-yet-tightly?utm_source=rss_feed Sat, 27 Apr 2019 09:36:56 +0000 Malaysia’s top trade official on Saturday said China and the US had a “global responsibility” to consider other countries’ interests, as the world’s two biggest economies near a deal to end their trade war. Darell Leiking, Malaysia’s international trade and industry minister, also said the uncertainty created by the trade conflict had caused a shift in the region’s supply chain that would have a global impact for years to come. “Whatever solutions they come up with, [the US-China trade war] has... https://www.scmp.com/news/china/diplomacy/article/3007944/malaysian-minister-says-china-and-us-have-global?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007944/malaysian-minister-says-china-and-us-have-global?utm_source=rss_feed Sat, 27 Apr 2019 07:50:21 +0000 China is making the final preparations for a flower show with a difference – it has not only been billed as the biggest event of its kind, but as something the authorities in Beijing hope will bolster the country’s standing on the world stage. Although the event may not have the same profile as the 2022 Winter Olympics, which the Chinese capital will host, the authorities have devoted considerable effort and resources to staging the Beijing International Horticultural Exhibition. It is expected... https://www.scmp.com/news/china/politics/article/3007929/china-pulls-out-all-stops-flower-show-difference?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3007929/china-pulls-out-all-stops-flower-show-difference?utm_source=rss_feed Sat, 27 Apr 2019 05:00:11 +0000 The EU’s strategy for connecting Europe and Asia is greener and more sustainable than China’s “Belt and Road Initiative”, but there remains scope for the two sides to work together, a senior European official said on Friday. Speaking in an interview on the sidelines of the second Belt and Road Forum in Beijing, European Commission Vice-President Maros Sefcovic said the European Union would be happy to increase its cooperation with Beijing as long as it could improve the transparency of its grand... https://www.scmp.com/news/china/diplomacy/article/3007878/eus-connectivity-plan-more-sustainable-beijings-belt-and-road?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007878/eus-connectivity-plan-more-sustainable-beijings-belt-and-road?utm_source=rss_feed Fri, 26 Apr 2019 21:00:16 +0000 When Chinese President Xi Jinping addressed world leaders at the Belt and Road Forum on Friday, his focus was not just the trade and infrastructure scheme but a list of issues that have been raised by Washington. During the speech, Xi promised the yuan would not be devalued, he pledged greater market access, improved protection of intellectual property and better implementation of China’s opening-up policies. It was a message analysts say was aimed at the United States – though he did not... https://www.scmp.com/news/china/diplomacy/article/3007885/xi-jinping-sends-message-us-and-west-china-committed-opening?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007885/xi-jinping-sends-message-us-and-west-china-committed-opening?utm_source=rss_feed Fri, 26 Apr 2019 18:00:20 +0000 The leaders of China and Russia called their countries “good friends” and vowed to work together for greater economic integration in Eurasia amid growing economic and military rivalries with the United States. On the sidelines of the Belt and Road Forum in Beijing on Friday, Chinese President Xi Jinping and his Russian counterpart Vladimir Putin pledged to further improve bilateral ties. “China and Russia have enjoyed the highest level of mutual trust, the closest cooperation and huge strategic... https://www.scmp.com/news/china/diplomacy/article/3007883/china-and-russia-forge-stronger-eurasian-economic-ties?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007883/china-and-russia-forge-stronger-eurasian-economic-ties?utm_source=rss_feed Fri, 26 Apr 2019 14:00:17 +0000 President Xi Jinping sought to allay mounting scepticism and fears over his global infrastructure and trade plans on Friday, promising to prevent debt risk, promote sustainable growth and make the Belt and Road Initiative more transparent and inclusive. In a speech to almost 40 world leaders in Beijing, the Chinese leader also made a series of commitments designed to address concerns over the country’s domestic reforms. Xi’s promises to abolish China’s much-criticised anticompetitive state... https://www.scmp.com/news/china/diplomacy/article/3007892/chinese-president-xi-jinping-tries-stem-rising-chorus-doubts?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007892/chinese-president-xi-jinping-tries-stem-rising-chorus-doubts?utm_source=rss_feed Fri, 26 Apr 2019 14:00:09 +0000 Xi Jinping’s latest promises of partnership and fair treatment for foreign companies received a cautious welcome from diplomats and delegates at the Belt and Road Forum on Friday, but they also called for concrete action to back them up. The Chinese president promised in his speech that China will further open up, lower tariffs, increase imports, strengthen intellectual property protection and strictly forbid forced technology transfers. He also said China would not seek a trade surplus and... https://www.scmp.com/news/china/diplomacy/article/3007880/belt-and-road-delegates-welcome-xi-jinpings-pledges-now-they?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007880/belt-and-road-delegates-welcome-xi-jinpings-pledges-now-they?utm_source=rss_feed Fri, 26 Apr 2019 12:31:30 +0000 Chinese President Xi Jinping on Friday appealed for nations around the world to treat Chinese companies and academics fairly, amid rising concerns that exchanges between China and the United States are being hampered by visa problems. While he did not mention any countries by name, Xi’s comments came after several academics complained of being unable to travel to the US because they were refused the necessary documents. “China will expand its opening up measures, which is a self-made choice... https://www.scmp.com/news/china/diplomacy/article/3007868/chinese-president-xi-jinping-appeals-foreign-leaders-fair-play?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007868/chinese-president-xi-jinping-appeals-foreign-leaders-fair-play?utm_source=rss_feed Fri, 26 Apr 2019 12:00:09 +0000 President Xi Jinping on Friday said China would avoid any form of “beggar-thy-neighbour” currency devaluation, suggesting Beijing does not intend to use the currency as a trade weapon and pushing up the yuan in the foreign exchange market. In his keynote speech at the Belt and Road Forum in Beijing on Friday, Xi said China would allow the market to play a “decisive” role in setting the yuan exchange rate while keeping the rate “basically stable”, in response to allegations the country has... https://www.scmp.com/economy/global-economy/article/3007877/xi-jinping-seeks-ease-currency-war-fears-china-us-near-trade?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3007877/xi-jinping-seeks-ease-currency-war-fears-china-us-near-trade?utm_source=rss_feed Fri, 26 Apr 2019 11:30:12 +0000 Malaysian Prime Minister Mahathir Mohamad gave China’s “Belt and Road Initiative” his “full support” after successfully renegotiating the cost of a rail link project. But he also stressed at the Belt and Road Forum in Beijing on Friday that freedom of passage on both sea and land should be respected. “I am fully in support of the Belt and Road Initiative. I am sure my country, Malaysia, will benefit from the project,” said Mahathir, one of 37 foreign leaders at the event. The backing from the... https://www.scmp.com/news/china/diplomacy/article/3007874/malaysias-mahathir-backs-chinas-belt-and-road-insists-open?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007874/malaysias-mahathir-backs-chinas-belt-and-road-insists-open?utm_source=rss_feed Fri, 26 Apr 2019 11:00:14 +0000 The Philippine government does not regard Huawei as a national security threat because no evidence has emerged to suggest this is the case, a cabinet minister said on Friday. Eliseo Rio, the acting head of the Department of Information and Communications Technology, was speaking in the wake of repeated American allegations that the tech giant is a front for Chinese intelligence. Its accusations have prompted the other members of the Five Eyes intelligence sharing community – Canada, Britain,... https://www.scmp.com/news/asia/southeast-asia/article/3007853/philippines-has-no-evidence-huawei-threat-national?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3007853/philippines-has-no-evidence-huawei-threat-national?utm_source=rss_feed Fri, 26 Apr 2019 09:54:20 +0000 President Xi Jinping did not pledge fresh capital to fund China’s ambitious “Belt and Road Initiative” and focused instead on “co-development” as he delivered a keynote speech at the second Belt and Road Forum in Beijing on Friday. Compared with the inaugural 2017 event, Xi’s speech was shorter and contained fewer concrete proposals. Instead, he seems to have focused more on deflecting criticism and doubts about the multibillion-dollar initiative. Even though he did not name the United States –... https://www.scmp.com/news/china/diplomacy/article/3007758/xi-jinping-delivers-shorter-belt-and-road-forum-keynote?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007758/xi-jinping-delivers-shorter-belt-and-road-forum-keynote?utm_source=rss_feed Fri, 26 Apr 2019 03:43:10 +0000 This week's Belt and Road Forum in Beijing is the diplomatic highlight of the year for China, with 37 world leaders in attendance, along with 5,000 other representatives from 150 countries. But President Xi Jinping's multibillion-dollar “Belt and Road Initiative”, first unveiled six years ago with the aim of linking China with Asia and Europe through ports, roads, airports, pipelines and other infrastructure projects, has also prompted concerns about what critics have called a lack of... https://www.scmp.com/news/china/diplomacy/article/3007655/president-xi-jinping-addresses-belt-and-road-forum?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007655/president-xi-jinping-addresses-belt-and-road-forum?utm_source=rss_feed Fri, 26 Apr 2019 01:17:15 +0000 Although the US federal government has snubbed the Belt and Road Forum in Beijing, representatives from America’s most populous state are attending to drum up support for international efforts to tackle climate change. California’s Lieutenant Governor Eleni Kounalakis said she was attending the event primarily to “talk about climate change and urge participants to prioritise the issue, and consider how the ‘Belt and Road Initiative’ can drive positive action for this global threat”. The... https://www.scmp.com/news/china/diplomacy/article/3007704/california-signs-chinas-belt-and-road-forum-help-fight-against?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007704/california-signs-chinas-belt-and-road-forum-help-fight-against?utm_source=rss_feed Thu, 25 Apr 2019 15:00:09 +0000 China moved on Thursday to allay widely held concerns about the financial drawbacks of its “Belt and Road Initiative” by publishing a debt sustainability framework for participating nations. Presented by Finance Minister Liu Kun on the opening day of the second Belt and Road Forum in Beijing, the 15-page document was, he said, based on similar standards used by the World Bank and the International Monetary Fund. He said its aim was to “prevent and solve debt problems” associated with projects... https://www.scmp.com/news/china/diplomacy/article/3007714/china-seeks-allay-belt-and-road-debt-trap-concerns-standard?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007714/china-seeks-allay-belt-and-road-debt-trap-concerns-standard?utm_source=rss_feed Thu, 25 Apr 2019 14:15:10 +0000 Hong Kong was out to sell its edge as a global financial hub for China’s Belt and Road Initiative on Thursday, with the city’s leader touting advantages such as its freedoms and the rule of law, both of which have come under increasing scrutiny from the international community. As dozens of state leaders, along with thousands of officials and investors, descended on Beijing for a three-day Belt and Road Forum, Chief Executive Carrie Lam Cheng Yuet-ngor sought to make a case for international... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3007713/hong-kong-sells-itself-belt-and-road-forum-beijing?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3007713/hong-kong-sells-itself-belt-and-road-forum-beijing?utm_source=rss_feed Thu, 25 Apr 2019 14:00:13 +0000 Even as the Philippines signs billions of dollars worth of agreements with its top trading partner China to boost bilateral ties, Manila will not back down from insisting on respect for its sovereignty, Trade Secretary Ramon Lopez said on Thursday. “The President, many Filipinos and myself would make sure there is mutual respect for sovereignty. That is what we should maintain as good friends,” Lopez told the South China Morning Post in an exclusive interview. He added he was confident any... https://www.scmp.com/week-asia/geopolitics/article/3007711/philippines-open-business-china-stands-firm-insisting-beijing?utm_source=rss_feed https://www.scmp.com/week-asia/geopolitics/article/3007711/philippines-open-business-china-stands-firm-insisting-beijing?utm_source=rss_feed Thu, 25 Apr 2019 13:40:22 +0000 A cloud of confusion hung over the first day of China’s biggest diplomatic event of the year as businesspeople and reporters tried to find a way through an organisational muddle. Beijing is keen to use this week’s Belt and Road Forum to dispel transparency concerns about its multibillion-dollar plan to boost trade through infrastructure but there was little clarity for many of the attendees on the first day of the three-day event on Thursday. A Portuguese businessman attending on behalf of... https://www.scmp.com/news/china/diplomacy/article/3007710/way-belt-and-road-forum-or-it-way-or-way?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007710/way-belt-and-road-forum-or-it-way-or-way?utm_source=rss_feed Thu, 25 Apr 2019 13:40:10 +0000 Philippine President Rodrigo Duterte tried to play down tensions over the South China Sea and restated his support for Beijing’s contentious global infrastructure and trade plan as he courted Chinese investment on his latest visit to the country. Duterte is one of dozens of world leaders attending the Belt and Road Forum in Beijing and on Thursday met his Chinese counterpart Xi Jinping. According to state news agency Xinhua, Duterte emphasised that his country had an independent foreign policy... https://www.scmp.com/news/china/diplomacy/article/3007690/philippine-president-rodrigo-duterte-tries-smooth-over-south?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007690/philippine-president-rodrigo-duterte-tries-smooth-over-south?utm_source=rss_feed Thu, 25 Apr 2019 12:00:15 +0000 As leaders from 37 countries and representatives from close to 150 nations gather in Beijing this week for the second Belt and Road Forum, India will be one prominent absentee. As was the case with the inaugural event two years ago, New Delhi will once again not be represented at any level at the event, underlining its official opposition to the Belt and Road Initiative. New Delhi’s decision to boycott the forum in 2017 was expected to leave India isolated and plunge an already complex... https://www.scmp.com/week-asia/opinion/article/3007588/belt-and-road-differences-aside-china-and-india-agree-disagree?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3007588/belt-and-road-differences-aside-china-and-india-agree-disagree?utm_source=rss_feed Thu, 25 Apr 2019 05:00:14 +0000 Malaysian Prime Minister Mahathir Mohamad visited Huawei Technologies’ Beijing office on Thursday morning in what was seen as a sign of Malaysian support for the Chinese telecommunications equipment supplier. Mahathir’s visit could be seen as an “endorsement” for Huawei which is still in the running to provide 5G gear for the country’s telecoms networks, according to a source familiar with the matter who declined to be named talking about confidential matters. However, no technology deals would... https://www.scmp.com/tech/enterprises/article/3007585/malaysian-pm-mahathir-mohamads-visit-huawei-beijing-seen-sign?utm_source=rss_feed https://www.scmp.com/tech/enterprises/article/3007585/malaysian-pm-mahathir-mohamads-visit-huawei-beijing-seen-sign?utm_source=rss_feed Thu, 25 Apr 2019 03:11:59 +0000 Malaysian Prime Minister Mahathir Mohamad will this week attend the second Belt and Road Forum in Beijing to discuss bilateral ties. This will be his second official visit to China during his current term as prime minister and his ninth visit overall. Unlike his last visit to China in August 2018, this time he returns as a committed supporter of the Belt and Road Initiative. He was among the first to confirm his attendance in February and by mid-April, Putrajaya and Beijing announced new terms... https://www.scmp.com/week-asia/opinion/article/3007569/mahathirs-belt-and-road-balancing-act-confirms-malaysias-middle?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3007569/mahathirs-belt-and-road-balancing-act-confirms-malaysias-middle?utm_source=rss_feed Thu, 25 Apr 2019 02:00:08 +0000 China is working to address mounting concern that its ambitious infrastructure drive creates debt traps for participating countries, according to people involved drafting a joint communique to be considered by world leaders at the Belt and Road Forum in Beijing this week. President Xi Jinping’s multibillion-dollar “Belt and Road Initiative”, which aims to link China with Asia and Europe through ports, roads, airports, pipelines and other infrastructure projects, has also raised worries about... https://www.scmp.com/news/china/diplomacy/article/3007558/china-aims-address-debt-trap-criticism-second-belt-and-road?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007558/china-aims-address-debt-trap-criticism-second-belt-and-road?utm_source=rss_feed Thu, 25 Apr 2019 01:23:50 +0000 There have been plenty of highs and lows in the six years since China launched its “Belt and Road Initiative”, but as the second Belt and Road Forum gets under way in Beijing, President Xi Jinping’s grand plan to boost global trade and enhance regional connectivity has never been under more scrutiny. The three-day event, which opens on Thursday, is the diplomatic highlight of the year for China, with the leaders of about 40 foreign governments and 5,000 foreign representatives from 150 countries... https://www.scmp.com/news/china/diplomacy/article/3007512/new-faces-new-funds-what-has-changed-belt-and-road-show?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007512/new-faces-new-funds-what-has-changed-belt-and-road-show?utm_source=rss_feed Thu, 25 Apr 2019 00:00:15 +0000 When the curtain raises on the second Belt and Road Forum in Beijing on Thursday, 40 foreign leaders and thousands of delegates from more than 100 countries will be there to witness China’s most important diplomatic event of the year. The one noticeable absentee will be China’s largest trading partner, the United States, whose attitude towards the ambitious “Belt and Road Initiative” has undergone a shift in recent years that largely reflects the tense state of relations between the two... https://www.scmp.com/news/china/article/3007504/united-states-under-trump-veering-away-chinas-belt-and-road?utm_source=rss_feed https://www.scmp.com/news/china/article/3007504/united-states-under-trump-veering-away-chinas-belt-and-road?utm_source=rss_feed Wed, 24 Apr 2019 17:00:25 +0000 Despite Thailand’s vow to rely on domestic funding as it expands its network of high-speed railways, it could soon accept the offer of a low-interest loan from the Export-Import Bank of China (CEXIM) – raising concerns about whether the country is on the verge of falling into a debt trap. A memorandum of cooperation between China, Laos and Thailand will be signed during the Belt and Road Forum, which runs from Thursday to Saturday, cementing a partnership in the Belt and Road Initiative’s... https://www.scmp.com/week-asia/geopolitics/article/3007551/china-wants-fund-thailands-us12-billion-high-speed-railway?utm_source=rss_feed https://www.scmp.com/week-asia/geopolitics/article/3007551/china-wants-fund-thailands-us12-billion-high-speed-railway?utm_source=rss_feed Wed, 24 Apr 2019 14:30:12 +0000 Global investors are less interested in expanding their infrastructure investments in emerging markets, including China, as rising interest rates and foreign-exchange rates increase risks, according to a new report. A survey of 300 infrastructure owners and asset managers found that only 42 per cent wanted to “somewhat” increase their investments in emerging markets this year, down from 73 per cent in 2017. Another 10 per cent said they expected investments to “increase a lot”, while 25 per cent... https://www.scmp.com/news/china/diplomacy/article/3007543/rising-rate-risks-erode-global-interest-emerging-markets?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007543/rising-rate-risks-erode-global-interest-emerging-markets?utm_source=rss_feed Wed, 24 Apr 2019 14:00:11 +0000 China should adhere to the European Union’s key principles as it seeks to expand its influence in Central and Eastern Europe, according to the Croatian ambassador to Beijing. Dario Mihelin said these principles included non-discrimination, a level playing field for businesses and the so-called three pillars of the United Nations – peace and security, human rights and development. “These are all tremendously important principles in relations between the EU and China and bilateral relations with... https://www.scmp.com/news/china/diplomacy/article/3007541/china-urged-respect-key-eu-values-it-seeks-expand-belt-and?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3007541/china-urged-respect-key-eu-values-it-seeks-expand-belt-and?utm_source=rss_feed Wed, 24 Apr 2019 12:57:45 +0000