Daily Briefs


Photo : Global Times

25 March 2022 | Friday | China Reader Evening Brief | Vol.1, No. 149

China shows willingness to implement Comprehensive Agreement on Investment

The Ministry of Commerce announces willingness to work with the EU on the Comprehensive Agreement on Investment.

IN BRIEF
By Avishka Ashok and Dincy Adlakha 

INTERNATIONAL
The EU: China shows a willingness to implement CAI
On 24 March, Shu Jueting, a spokesperson for the Ministry of Commerce said that China is ready to cooperate with the EU to implement the Comprehensive Agreement on Investment. The CAI is a deal that will allow for more investment-related exchanges between the two countries. She said that the agreement is “a balanced, high-level, mutually beneficial and win-win deal, the signing of which at the earliest possible time suits the common interests of both sides.” The negotiations for the deal ended in 2020 and China showed a willingness to implement the same. (“China stands ready to work with the EU to push for the implementation of the CAI: official,” Global Times, 24 March 2022)

The US: Chinese, North Korean and Russian entities face sanctions due to weapon proliferation
On 25 March, the US State Department announced that it is imposing sanctions on Chinese firm Zhengzhou Nanbei Instrument Equipment along with two Russian companies and another North Korean company. The move is attributed to supplying controlled equipment to Syria and transferring sensitive items to the North Korean missile program. The US State Department spokesperson Ned Price said: “These measures are part of our ongoing efforts to impede the DPRK’s ability to advance its missile programme and they highlight the negative role Russia plays on the world stage as a proliferator to programmes of concern.” (“US sanctions China, North Korea and Russia entities for weapons proliferation,” South China Morning Post, 25 March 2022)

Afghanistan: Foreign Ministers meet in Afghanistan
On 24 March, Chinese State Councilor and Foreign Minister Wang Yi visited Afghanistan and met the acting Foreign Minister of the Taliban government Amir Khan Muttaqi. China Central Television reported that the visit includes a separate meeting with acting Deputy Prime Minister Mullah Abdul Ghani Baradar. An official statement from the Chinese Foreign Ministry read: “China respects Afghanistan's independence, sovereignty and territorial integrity, respects the independent choice made by the Afghan people, and respects Afghanistan's religious beliefs and customs. China never interferes in Afghanistan's internal affairs, never seeks any self-interest in Afghanistan, and never seeks the so-called sphere of influence.” China stressed the need to tackle the humanitarian crisis in Afghanistan. The two sides also discussed BRI projects through their traditional friendship. Foreign Minister Wang said that China is dedicated to assisting Afghanistan in achieving true independence and development. This is the first high-level ministerial meeting between Chinese and Taliban Afghanistan officials since the Taliban takeover. (Zhang Han, “Chinese FM visits Afghanistan, shows nation's role in easing humanitarian crisis,” Global Times, 24 March 2022)

The US: China demands information regarding biological labs in Ukraine 
On 24 March, the Chinese Foreign Ministry Spokesperson Wang Wenbin expressed China’s concerns regarding the US biological laboratories in Ukraine. Wang asked the US to explain the use of these laboratories in Ukraine and around the world. China suspects that the laboratories have been set-up outside the US in order to side-step the restrictions imposed within the country on dangerous biochemical research. Wang said: “The best way for the U.S. side to prove its innocence is to open its doors and allow examination by the international community.” (“China urges U.S. to give convincing account of bio-military activities,” Xinhua Net, 24 March 2022)

INTERNAL
PLA: Chinese military holds funeral for crew killed in South China Sea crash
On 25 March, South China Morning Post reported that funerals were held for at least seven pilots and crew members from the PLA who died in a warplane crash in the South China Sea. The plane is said to have crashed on 1 March in the southwest of Hainan province. The crash was reported by a Vietnamese journalist and confirmed by Taiwan’s intelligence bureau chief. The crashed plane was an anti-submarine warfare aircraft. Several reports claim that the PLA announced military drills in the region immediately after the crash while it conducted a search and rescue operation. (William Zheng, “Funerals held for PLA pilots and crew killed in South China Sea crash,” South China Morning Post, 25 March 2022)

COVID-19: Infections in China fall as government inspects Shanghai and other cities
On 25 March, China’s national health authority informed that the COVID-19 cases in the country have fallen. Previously, the daily caseload was over 150,000. However, on 24 March, 140,651 COVID-19 cases were reported. The authorities also stated that the number of asymptomatic cases have risen. The central government has dispatched ten inspection teams to motinot the nationwide outbreaks and ensure that the restrictions are followed strictly. The teams are sending collected information from Shaanxi and Shandong regions, including Shanghai. (“China COVID cases fall, govt inspecting Shanghai, other outbreaks,” Reuters, 25 March 2022)

ECONOMY
Weibo in US: Company seeks other options due to US delisting risk
On 24 March, the Weibo Corporation said that it will explore other options as soon as the company was added to the US' security regulator’s list of companies that are near delisting. The list includes all firms on the risk of delisting from the New York stock exchange. Weibo was added to the list as Beijing has continuously refused to provide the US access to books of listed companies due to security reasons. The same reason has also been cited by Yum China as it expects to be delisted by 2024 from the New York stock exchange as it failed to provide access to the required audit documents. (“China's Weibo to evaluate options after delisting risk in the U.S.,” Reuters, 24 March 2022)

REGIONAL
Cambodia: Prime Minister inaugurates Chinese funded road
On 25 March, Cambodian Prime Minister Samdech Techo Hun Sen and the Economic and Commercial Counselor of the Chinese Embassy in Cambodia Wu Guoquan inaugurated National Road No. 51. The road was funded with the help of a concessional loan by the Chinese government and was built by China Road and Bridge Corporation. The road connects Kampong Speu and Kandal provinces. Over 700 people attended the opening ceremony of the 37.9 kilometer asphalt road. Hun Sen expressed his gratitude to China’s constant support and cooperation and said: “This road will play an important role in facilitating travel and transport of goods because it hosts many factories and large-scale enterprises as well as residential projects.” (“Chinese built national road inaugurated in SW Cambodia,” Xinhua Net, 25 March 2022)

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