China Politics Update (British Embassy, Beijing) – October 2015

The proposal for the new Five-Year Plan (2016-2020) has been approved by the Central Committee of the Communist Party at the Plenum held on 26–29 Oct. The Plan has been focused on realizing the objective of ‘comprehensively constructing a moderately prosperous society by the year 2020’. Innovation is put in a central position in national development. ‘…let innovation penetrate into all Party and state work, and let innovation become common practice in all of society.’ stated the Communiqué of the Plenum. China will also persist in ‘green development’ by reducing resource use and protecting the environment. All environmental protection agencies under provincial levels will conduct vertical management for air, water and soil protection. To achieve national development goals, the Central Committee has pledged to put forward the anti-corruption drive, establish systems and mechanisms so people don’t dare to be corrupt, cannot be corrupt and don’t want to be corrupt.

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Anything Is Possible With China – by Richard Graham MP

This is a cross-post from the website of Richard Graham, MP for Gloucester and APPCG Chair, and was also distributed in the Tuesday 20 October 2015 Times Red Box.

As part of the government’s new strategic partnership with China, this week Xi Jinping becomes the first Chinese President to address parliamentarians in the House of Lords. There will be many keen to criticise a relationship where the two countries have such different values. But success with China often comes against the odds.

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China Politics Update (British Embassy, Beijing) – September 2015

A major military parade was held in Beijing on 3 Sep to mark the end of World War II. More than 30 foreign government officials and heads of state including Russia’s President Vladimir Putin, UN Secretary General Ban Ki-moon and South Korea’s President Park Geun-hye attended the event. Around 12,000 troops and 200 aircraft, as well as tanks and missiles, were on display in Tiananmen Square. President Xi Jinping announced that the army would be cut by 300,000 personnel, a move expected to be finalised by 2017.

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The Way Forward With China – by Richard Graham MP

This is a cross-post from the website of Richard Graham, MP for Gloucester and APPCG Chair.

I’ve just come back leading a delegation of Conservative and Labour MPs to three cities in China as Chairman of the All Party Parliamentary China Group. Meanwhile Chancellor George Osborne led a team of ministers there at the same time. What’s it all about and why are we spending so much effort on China?

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China Politics Update (British Embassy, Beijing) – August 2015

A huge explosion rocked the city of Tianjin in northwest China (about 126 km from Beijing) on 12 August. It occurred in a warehouse which reportedly stored 3000 tonnes of toxic chemicals. The blasts killed at least 159 people and injured hundreds more, leaving the port area of the city in ruins. So far 12 people suspected of being involved in the explosions have been detained. Premier Li Keqiang made a visit to the scene of the explosions on 16th August. The Supreme People’s Procuratorate announced on the same day that it had begun to investigate whether any dereliction of duty was the cause for the explosions. The head of China’s work safety watchdog was later sacked for suspected “serious breaches of law and discipline”.

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City of London: China Financial Weekly Report

Highlights of the week

BOCI Securities Limited becomes first HK member in London Stock Exchange

London Stock Exchange (LSE) Thursday announced it welcomes BOCI Securities Limited as its first member from Hong Kong, China.

New yuan channels to widen funding sources

Cross-border loan services to help lower finance costs for more domestic, overseas companies.

China selling treasury bonds for 40b yuan

The Chinese Ministry of Finance will sell two batches of treasury bonds for a total of 40 billion yuan ($6.5 billion) in August, it announced Wednesday.

Park to open to foreign backers

Foreign venture capital firms will soon be allowed to invest directly in startup companies in Shanghai’s Zhangjiang High-Tech Park, a local official said yesterday.

China becomes one of top five export markets for Britain

China has emerged as the fourth largest export market for Britain in the past year, analysis of Britain’s government trade figures has revealed.

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China Politics Update (British Embassy, Beijing) – July 2015

President Xi Jinping travelled to Russian city of Ufa 8 – 10 July for summits of the BRICS and Shanghai Cooperation Organization (SCO). Xi urged the five BRICS nations jointly to address global issues, promote common development and advance economic governance. Xi also pointed out that all parties should implement initiatives such as the New Development Bank of BRICS nations and Contingent Reserve Arrangement to demonstrate BRICS nations’ ability to deliver change. During the SCO summit, Xi signed a document with SCO leaders which will start accession procedures for India and Pakistan. The declaration also flagged a potential Development Bank and Development Fund within the SCO.

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China Politics Update (British Embassy, Beijing) – June 2015

Former security tsar Zhou Yongkang was sentenced to life imprisonment for bribery, abuse of power and disclosing state secrets on 11 June after a closed-door trial in the northern city of Tianjin. According to state media, Zhou took more than $ 21.3 million in bribes himself, while his actions benefitted associates from the oil industry and his wife and son who accumulated assets of over $300 million. The 72-year old Zhou pleaded guilty appearing on state broadcasting agency CCTV and said he will not appeal to the court’s decision.

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