Daily Briefs


Photo : Xinhua

17 February 2022 | Thursday | China Reader Evening Brief | Vol.1, No. 117

President Xi calls for a political settlement on the Ukraine issue

The remarks were made during President Xi’s telephonic conversation with French President Emmanuel Macron.

IN BRIEF
By Dincy Adlakha and Avishka Ashok

INTERNAL
President Xi calls for a political settlement on the Ukraine issue
On 16 February, Chinese President Xi Jinping stressed “the related parties should stick to the general direction of political settlement of the Ukraine issue,” reported Xinhua, President Xi stressed on using multilateral platforms like ‘Normandy Format’  for a comprehensive settlement of the Ukraine issue through dialogue and consultation. The remarks were made during President Xi’s telephonic conversation with French President Emmanuel Macron.(“Xi urges related parties to adhere to political settlement of Ukraine issue,” Xinhua Net, 16 February 2022)

Civil Aviation Administration comes up with plan to improve China’s air logistics
On 16 February, Xinhua reported that the Civil Aviation Administration of China issued a plan to build a preliminary “safe, smart, efficient and green” air logistics system by 2025. The plan explains that to expand the scope of cross-border services and cooperation equal attention will be given to cargo and passenger transport which will expand the air logistics companies. The administration showed data of the steady progress made by China’s air logistics companies. By the end of 2020, Beijing’s air cargo transport services were made available in 237 domestic cities and 63 countries around the world. (“China to build green air logistics network by 2025,” Xinhua Net, 16 February 2022)

ECONOMY
Intermediate People’s Court freezes Evergrande assets due to missed payments
On 16 February, the Guangzhou Intermediate People’s Court froze the assets of Evergrande Group due to missed construction payments. Shanghai Construction, a state-owned firm, had sued Evergrande in December as the group failed to pay construction fees. Releasing the judgment on the case, the Court froze 361.5 million yuan worth bank deposits and real estate of Evergrande. With this, many suppliers and contractors have also taken up legal fight against Evergrande as the group crosses USD 300 billion liabilities. (“China courts freeze $157 mln of Evergrande assets over missed construction payments,” Reuters, 17 February 2022)

National Bureau of Statistics reports on the slowdown of inflation in China
On 16 February, the National Bureau of Statistics (NBS) released a statement saying in 2021, the producer price index (PPI) increased by 9.1 per cent in China. The inflation had eased to its slowest pace and consumer growth softened during the last six months. This was mainly due to the property sector crackdown, COVID-19 restrictions and government policies in reigning the material costs. (“China's inflation slows, leaving room for policy easing,” Reuters, 16 February 2022)

TECHNOLOGY
Tencent Holdings signs new deal amid competition with short video-sharing apps
On 16 February, South China Morning Post reported that Tencent Holdings has agreed to pay USD 284 million to secure streaming rights for over 6,000 films and television series. The new deal comes in due to the competition among video streaming service providers in China to retain the attention of online audiences. Tencent will given exclusive rights to broadcast the content and attract the viewers with unique content . (“Tencent signs US$280 million deal for streaming rights to 6,000 films and shows amid rivalry with short video apps,” South China Morning Post, 16 February 2022)

REGIONAL
Chinese aircraft observed near Taiwan occupied island
On 16 February, Global Times reported that a Chinese mainland aircraft was spotted near Taiwan-occupied Dongyin island. The island is located near the coast of mainland. It is speculated by Taiwanese experts that the aircraft rounded up the territory to test Taiwan’s response measures. Additionally, Chinese experts claimed that the incident was evidence of Taiwan’s wear military air defense capabilities. They also suggested that such flights may become a routine activity and might even include other territories, in case Taiwan continues provoking China for secession. (Liu Xuanzun, “Mainland aircraft spotted near Taiwan-occupied island ‘exposes weak air defense’,” Global Times, 16 February 2022)

INTERNATIONAL
China and France promise increased bilateral cooperation
On 16 February, President Xi Jinping talked to President Emmanuel Macron on phone. During their conversation, the two leaders vowed improved Sino-France relations. A major part of the conversation was dedicated to progress of ratification of the China-European Union investment deal signed in 2020. The deal aims to lead both parties to newer levels of development. Emmanuel Macron is the current rotating president of the EU. He praised Beijing for the successful opening ceremony of Beijing Olympics and displayed hopes of a potential comprehensive strategic agreement between China and France. The two sides will also conduct subgroup meetings on aerospace and internet technology under their China-France Strategic Dialogue. (Xu Wei, “Xi, Macron vow to boost cooperation,” China Daily, 17 February 2022)

China accuses US for exaggerating Russian threat in Ukraine situation
On 16 February, the Chinese Foreign Ministry Spokesperson Wang Wenbin said that US is exaggerating the Russian threat in Ukraine to create tension. He cited the remarks made by US President Joe Biden on 150,000 Russian troops stationed near Ukraine’s border despite a pullback announcement. He also said the US and other western nations are consistently suggested arms control and diffusion of stand-off which instilled fear in the citizens and made them relocate from Ukraine. He said: “Such persistent hyping up and disinformation by some Western countries will create turbulence and uncertainty to the world full of challenges, and intensify distress and division. We hope relevant parties will stop such disinformation campaigns and do more to benefit peace, mutual trust and cooperation.” (“China says U.S. is exaggerating Russian threat to Ukraine,” Reuters, 16 February 2022)

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