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Posts Tagged ‘Wen Jiabao’

Xi Jinping, China Vice President, Named Communist Party Leader

Posted by Ram Kumar Shrestha on November 15, 2012

By Ben Blanchard and Sui-Lee Wee

BEIJING, Nov 15 (Reuters) – China’s ruling Communist Party unveiled its new leadership line-up on Thursday to steer the world’s second-largest economy for the next five years, with Vice President Xi Jinping taking over from outgoing President Hu Jintao as party chief.

Xi was also named head of the party’s Central Military Commission, state news agency Xinhua said.

The other new members of the Politburo Standing Committee – the innermost circle of power in China’s authoritarian government – include premier-in-waiting Li Keqiang and financial guru Wang Qishan, who will be in charge of fighting corruption. Read the rest of this entry »

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Billions in Hidden Riches for Family of Chinese Leader

Posted by Ram Kumar Shrestha on October 26, 2012


BEIJING — The mother of China’s prime minister was a schoolteacher in northern China. His father was ordered to tend pigs in one of Mao’s political campaigns. And during childhood, “my family was extremely poor,” the prime minister, Wen Jiabao, said in a speech last year.

But now 90, the prime minister’s mother, Yang Zhiyun, not only left poverty behind — she became outright rich, at least on paper, according to corporate and regulatory records. Just one investment in her name, in a large Chinese financial services company, had a value of $120 million five years ago, the records show. Read the rest of this entry »

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Australia to become energy superpower?

Posted by Ram Kumar Shrestha on May 20, 2012

Australian Prime Minister Julia Gillard (R) with Chinese Premier Wen Jiabao in Beijing on April 26, 2011. Australia is making billions of dollars selling coal and iron ore to China and other Asian countries. UPI/Stephen Shaver

License photo

ADELAIDE, Australia, May 14 (UPI) — As worldwide energy demand grows, Australia is posed to be a leader in the energy revolution, said Australian Resources Minister Martin Ferguson.

Speaking Monday at the Australian Petroleum Production and Exploration Association conference in Adelaide, Ferguson pointed to a Deloitte report commissioned by the association that says Australia’s combined identified gas resources, excluding shale natural gas, are about 392 trillion cubic feet.

That’s about 184 years worth of gas at current production rates, the minister said.

Liquefied natural gas exports in 2010-11 totaled 20 million tons, for a value of $10.3 billion, he said, making Australia the third largest exporter in the Asia-Pacific region and the fourth largest in the world. Read the rest of this entry »

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Why China Wants to Slow Down Its Own Economy

Posted by Ram Kumar Shrestha on March 27, 2012

The Atlantic

Outgoing Premier Wen Jiabao called for reducing growth, a sign of China’s concerns about rising inequality.

 China’s Premier Wen Jiabao / Reuters

As China’s annual National People’s Congress draws to a close, its most substantive portions came from Wen Jiabao’s work report, a sort of Chinese version of the “state of the union.” It set the tenor for economic objectives in 2012 — Wen’s final year in office — including a call for slower growth. Wen set a target of 7.5% GDP growth. That would be the first time annual GDP growth dropped below 8% in years. Still, China has tended to overshoot its GDP targets, so the target-setting exercise does not necessarily reflect underlying economic performance. Instead, the target serves as a political signal to remind each level of government that the days of GDP-worship need to end, and that they will have to make way for the long-delayed restructuring.

This is not merely sloganeering, as the government realizes that rebalancing the economy necessarily entails a higher tolerance for reduced growth. It is important to understand the context in which Beijing decided to lower the target. As I wrote recently in the China-US Focus: Read the rest of this entry »

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Chinese power politics: Bo Bo, Black Sheep

Posted by Ram Kumar Shrestha on March 15, 2012


IN A dramatic high-level political shake-up, China used the Ides of March to announce the removal of Bo Xilai from his post as the Communist Party boss of the south-western city of Chongqing. State media reported that Mr Bo has been replaced by Zhang Dejiang, who will also retain his spot as Vice Premier of the People’s Republic.

Mr Bo was badly damaged by a scandal in which his key deputy, Chongqing’s vice mayor and its top police official, Wang Lijun, spent a full day in an American consulate last month. It was apparent that he went seeking asylum. Turned out by the Americans, Mr Wang has since been placed under investigation—leading to widespread speculation as to whether his actions had to do with corruption, political infighting, or both.

Mr Bo’s dismissal came just one day after China’s premier, Wen Jiabao, took a thinly-veiled swipe at Mr Bo during a nationally televised press conference, at the close of the annual full session of parliament. Commenting on the Wang Lijun case, Mr Wen said that Chongqing’s leaders “must reflect seriously and learn from” the episode.

Prior to that incident, Mr Bo had plausible hopes of being elevated to the Politburo’s Standing Committee, the nine-member body that effectively rules China. The Politburo’s new composition is due to be unveiled later this year at the Party Congress, an event which is held only once every five years.

It had appeared that Mr Bo might have survived the moment of crisis, when he made a very public appearance earlier during the 10-day parliamentary session. He used it to acknowledge “negligent supervision” in the matter of Wang Lijun, and also struck a populist note about China’s growing inequality. At his chaotic press event, from which hundreds of reporters were turned away, he said that China’s Gini coefficient had risen above 0.46. The central government has not reported its Gini figures, a standard measure of inequality, for years. Mr Bo said that “if only a few people are rich then we are capitalists, we’ve failed.” Read the rest of this entry »

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Can China Benefit From Growing U.S.-Iran Tensions?

Posted by Ram Kumar Shrestha on January 16, 2012


U.S. efforts to reduce global demand for Iran’s oil exports as a means to pressure it into curbing its nuclear ambitions could present major problems for China, the leading customer of Iranian crude exports. China reacted strongly over the weekend to U.S. sanctions on Zhuhai Zhenrong, a Chinese firm the U.S. calls the largest supplier of refined petroleum to Iran. (Although a major petroleum producer, Iran is dependent on gasoline imports due to limited domestic refinery capacity.) Those imports violated U.S. law, the U.S. State Department says, and as a result Zhuhai Zhenrong is “barred from receiving U.S. export licenses, U.S. Export Import Bank financing, and loans over $10 million from U.S. financial institutions.”

The Wall Street Journal reported that the company appears to have no U.S. assets, so the sanctions are “largely symbolic.” But they raised the ire of the Chinese government. On Saturday Chinese Foreign Ministry spokesman Liu Weimin called U.S. efforts to internationalize its  sanctions against Iran by target a Chinese company were “completely unreasonable and don’t conform with the spirit or content of U.N. Security Council resolutions,” according to a statement (in Chinese) posted on the ministry’s website.

Last week U.S. Treasury Secretary Timothy Geithner visited Beijing, seeking to convince China to back further sanctions against Iran. Last month President Obama signed legislation that would block firms that deal with Iran’s central bank—the key processor of oil receipts—from the U.S. financial system. Exceptions would be made for states that significantly reduce crude oil purchases from Iran. Japan, a major importer of oil from Iran, said it would support the U.S. measure. But China responded cautiously. Vice Foreign Minister Cui Tiankai said ahead of Geithner’s visit that China’s oil imports should be considered separately from the dispute over Iran’s nuclear program. Read the rest of this entry »

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China to provide 200m yuan to support peace process; Wen leaves for Qatar

Posted by Ram Kumar Shrestha on January 14, 2012

KATHMANDU, Jan 14: Prime Minister Baburam Bhattarai and his visiting Chinese counterpart Wen Jiabao signed an eight-point bilateral agreement during the talks held at the PM´s office in Singha Durbar on Saturday.

During the luncheon held after the talks, Wen announced that China would provide 200 million yuan in assistance to Nepal in the current fiscal year with intent to support Nepal´s peace process, our correspondent Kiran Chapagainreported.

On the occasion, Wen also pledged to provide 750 million yuan in concessional loan to Nepal in the next three years. The talks chiefly dwelt on economic issues of bilateral cooperation and other issues related to cultural exchange and infrastructural development.

Wen has left Kathmandu for Qatar after completing his four-and a-half hours trip to Nepal. PM Bhattarai and other high government officials saw him off at the Tribhuvan International Airport.

Meanwhile, Deputy Prime Minister and Foreign Minister Narayankaji Shrestha is addressing a press meet on Wen´s Nepal visit at the VIP lounge at the TIA.

Earlier in the day, Wen had arrived in Kathmandu, almost an hour behind schedule, in a special aircraft  at 11:50 am. PM Bhattarai, Speaker Subash Nembang and other high government officials received Wen at the VVIP lounge at the airport. Nineteen gunshots were fired in honor of the Chinese premier.

Before wrapping up his visit, Wen called on President Dr Ram Baran Yadav at the latter´s official residence in Maharajgunj. Prior to this, he attended the official luncheon hosted by PM Bhattarai in Singha Durbar. UCPN (Maoist) Chairman Pushpa Kamal Dahal, Nepali Congress President Sushil Koirala, CPN UML Chairman Jhalanath Khanal and a very few government ministers also attended the function.

Wen’s visit is the first by a Chinese premier since the then premier Zhu Rongji’s Nepal trip in May 2001. Before that, Chinese President Jiang Zemin had paid a visit to Nepal back in 1996. Read the rest of this entry »

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Ahead of Chinese PM’s Nepal visit, India’s secret agents rush to Kathmandu

Posted by Ram Kumar Shrestha on November 26, 2011

The spokesperson at the Indian Embassy in Kathmandu, Ms. Apoorva Srivastava was quick enough to reject the presumption that Indian Foreign Secretary Ranjan Mathai is arriving Kathmandu, Saturday November 26, 2011 under a veiled pretext.

She claimed, talking to Nayapatrika Daily, that Mathai is arriving Nepal in connection with the arrival of Finance Minister Pranab Kumar Mukherjee from India.

India’s Finance Minister Sri Pranab Mukherjee is landing Kathmandu, November 27, 2011 to sign the much publicized and highly controversial Double Taxation Avoidance Agreement with Nepal (DTAA).

However, the arrival of Foreign Secretary from New Delhi a day in advance and in lieu of Finance Secretary is not unusual because it’s a part of India’s diplomatic game to befool the smaller neighbor, claim experts in Nepal.

A dangerous game must have been in offing.

It is presumed that Secretary Mathai is being sent to Kathmandu to collect as much information as is possible on the forthcoming visit of Chinese Prime Minister Wen Jiabao to Nepal, add experts.

In all likelihood, PM Wen will arrive in Kathmandu December 20, 2011 for a two day state visit.

Headache in India has already begun.

Mathai will also convey India’s annoyance over Nepal’s vote in favor of China for a five-year term at the UN’s Joint Inspection Unit in a voting held last Monday. India’s Gopinathan bagged victory over his Chinese rival.

“It is altogether a different matter that an Indian candidate won the seat but Nepal’s vote in favor of China makes it clear that Nepal as an independent nation is free to make its own decisions,” foreign policy experts claim. NOIDA investment waning. Read the rest of this entry »

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China’s Latest Bid to Flex Its Regional Muscle and Intimidate Tibet

Posted by Ram Kumar Shrestha on November 23, 2011

By Ellen Bork

Kathmandu—After four prime ministers in four years, Nepal might finally be entering a period of stability. On November 1, Nepalese politicians reached a deal on demobilizing nearly 20,000 Maoist fighters who have been in limbo since a 2006 peace agreement ended the ten year insurgency. A second priority, drafting a constitution, may now also be within reach thanks to a compromise on power sharing among the major political parties.

But at the same time, Nepal has become the subject of a high stakes battle for influence between China, which occupies Tibet on Nepal’s northern border, and India, which surrounds the country on all other sides. Nepal’s current prime minister, Baburam Bhattarai, sent a signal by making his first trip abroad to Delhi last month, and Indian Prime Minister Manmohan Singh will visit next year. But Chinese officials have responded with a full-court press of their own: Kathmandu’s Tribhuvan airport has seen a steady stream of Chinese officials, including the head of China’s People’s Liberation Army, who inked a $20 million military-aid deal with the Nepalese army. Chinese Premier Wen Jiabao, for his part, will visit Nepal in December.

At this stage it’s unclear who will prevail in this Sino-Indian struggle for influence, but one issue that is shaping up to be an important bellwether is Nepal’s role as a haven and way station for Tibetan refugees. In recent months China has set its sights on closing off this avenue to Tibetans, and it has stepped up the pressure it exerts on Nepal accordingly. India, which provides a home for the Dalai Lama and the democratic, exile government of Tibet, has a strategic stake in seeing Nepal stand up to Chinese pressure. How Nepal responds to China’s aggressive new campaign to cut off aid for Tibetans will indicate just how much influence the Chinese have in Kathmandu.

NEPAL’S COMMUNITY OF an estimated 25,000 Tibetan refugees dates mainly from China’s conquest of Tibet in the 1950s. Some are resistance fighters or their descendants. New refugees no longer settle in Nepal, but under the 1990 “Gentleman’s Agreement” between the Nepalese government and the UN High Commission on Refugees (UNHCR), Tibetans who make it across the mountainous frontier—anywhere from a few hundred to a few thousand each year—are brought to the capital, Kathmandu, several hours away by car. Once there, they are documented and quickly sent on to India. Nepal has been a part of the escape path for numerous important Tibetans, including the Karmapa Lama, a young, charismatic monk who fled Tibet in a dramatic escape in 1999 when he was 14 years old. Some hope he will assume an important leadership role in the Tibetan cause when the current Dalai Lama, now 76, dies.   Read the rest of this entry »

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India, China set ambitious trade target

Posted by Ram Kumar Shrestha on December 18, 2010

New Delhi: India and China tried to boost bilateral relations with an upbeat assessment of its importance in today’s world, saying that when the two Asian giants speak in one voice, “the world listens”. At a concrete level they agreed Thursday to address contentious issues that have bedevilled bilateral relations and set their eyes on the future by setting an ambitious trade target of $100 billion by 2015.

Indian prime minister Manmohan Singh and his visiting Chinese counterpart Wen Jiabao met over one and a half hours at Hyderabad House to forge “strategic consensus” on a range of issues which included global terrorism, nuclear non-proliferation, climate change, the widening trade deficit between both nations and irritants such as the problem of stapled visas for residents of Jammu and Kashmir.

The joint communiqué issued after the talks said both leaders agreed there was “enough space in the world for the development of both India and China and enough areas for both to cooperate”.

The launch of a hotline between the prime ministers, which became operational four days ago, was welcomed by both leaders. Read the rest of this entry »

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Cameron’s visit ‘fruitful’, says Chinese premier

Posted by Ram Kumar Shrestha on November 9, 2010

BBC: The Chinese premier, Wen Jiabao, has called David Cameron’s visit to China “fruitful”.

David Cameron arrived for his first prime ministerial visit to the world’s second largest economy

The prime minister, who is accompanied by four cabinet ministers and 43 business leaders, called the trip a “vitally important trade mission”.

Engine maker Rolls-Royce has won a $1.2bn (£750m) contract – the biggest of the visit so far.

But pressure is mounting on Mr Cameron to raise the issue of China’s human rights record.

The two men met at a formal reception in the Great Hall of the People, as Mr Cameron arrived on his first trip as prime minister to the country. Read the rest of this entry »

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China Plays Down U.S. Tensions At U.N. Summit

Posted by Ram Kumar Shrestha on September 23, 2010

Minimize the friction – good idea.
Read the Article at HuffingtonPost

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China Premier Wen Jiabao Says Japanese Companies’ Wages Too Low

Posted by Ram Kumar Shrestha on August 30, 2010

Business in business.
Read the Article at HuffingtonPost

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