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MercoPress, en Español

Montevideo, November 16th 2025 - 05:32 UTC

Tag: China

  • Wednesday, March 21st 2018 - 10:03 UTC

    Financial leaders reject protectionism, but prepare for a trade war

    U.S. President Donald Trump is expected to unveil tariffs on up to US$ 60 billion in Chinese technology and telecoms products by Friday

    The world’s financial leaders rejected protectionism on Tuesday and urged “further dialogue” on trade, but failed to diffuse the threat of a trade war days before U.S. metals tariffs take effect and Washington is to announce measures against China. Finance ministers and central bankers of the world’s 20 biggest economies, which represent 75% of world trade and 85% of global gross domestic product, discussed trade disruptions as a risk to growth at a two-day meeting.

  • Monday, March 19th 2018 - 09:03 UTC

    Xi Jinping has his most loyal ally, and head of anti corruption campaign, named vice-president

    Wang, 69, has been mayor of Beijing during the Sars outbreak in 2003, and was executive chair of the city's Olympic committee ahead of the 2008 games.

    China's parliament has endorsed Xi Jinping for a second term and appointed Wang Qishan as his vice-president. The ballot at the National People's Congress unanimously approved Mr Xi while Mr Wang received 2,969 votes in favor and only one against. Wang Qishan was previously in charge of corruption investigations in China.

  • Monday, March 19th 2018 - 08:52 UTC

    Next chief of China's central bank was educated in University of Illinois

    Yi Gang joined the People's Bank of China (PBOC) 20 years ago and has been its deputy governor since 2008.

    US-educated economist Yi Gang has been named the next governor of China's central bank, replacing Zhou Xiaochuan. Mr Yi joined the People's Bank of China (PBOC) 20 years ago and has been its deputy governor since 2008. His appointment is being seen as one of ensured continuity as Beijing continues to try and rein in growing debt and limit risky financial practices.

  • Monday, March 12th 2018 - 09:18 UTC

    China names an emperor for life: how imperialist the change will be?

    Communist Party leaders argue changes to Article 79 of the constitution are necessary because other key positions Xi holds as party chairman

    In the short space of two weeks, China has announced and now voted with near unanimous approval to amend the country’s constitution and give the party state’s powerful leader Xi Jinping a mandate to stay in office indefinitely. On Sunday, a controversial amendment to scrap a two-term limit on the office of the president was approved along with 20 other changes.

  • Friday, March 9th 2018 - 11:39 UTC

    Sharp reaction from Asian nations to Trump's tariffs on steel and aluminum

    Japan said the move would have a “big impact” on bilateral ties, while China said it was “resolutely opposed”, and South Korea said it may file a complaint to WTO

    Major Asian nations reacted sharply to U.S. President Donald Trump's decision to impose tariffs on steel and aluminum imports on Friday, warning of damage to relations amid industry calls for retaliation.

  • Friday, March 9th 2018 - 09:22 UTC

    EC demands £2.4bn from HM Customs because of 'undervalued' fraud of Chinese shoes and textiles

    The investigation found organized crime groups used fake invoices to undervalue goods being imported from China, many of which destined for the black market

    European Commission has written to the UK government saying the UK owes €2.7bn (£2.4bn) in customs duties on shoes and textiles imported from China. The UK is accused of doing too little to prevent fraud after it was warned about the problem by the EU's watchdog Olaf in 2017. It begins a legal process which could end at the European Court of Justice.

  • Thursday, March 8th 2018 - 09:28 UTC

    Chinese carmaker acquires US$ 9bn stake in Mercedes Benz, expecting to share auto technology

    Li Shufu has snapped a US$ 3.3 billion stake in truck maker AB Volvo, a majority stake in Lotus, a 49.9% stake in Malaysian automaker Proton

    Li Shufu, chairman of Chinese carmaker Geely, is making waves in the global auto market after buying a US$ 9 billion stake in Germany’s Daimler. Li, 54, the son of a farmer from China’s Zhejiang province, has led a major acquisition push globally since 2010, when he took over Swedish car brand Volvo from Ford Motor, US$ 1.8 billion deal.

  • Tuesday, March 6th 2018 - 09:46 UTC

    China increases its military budget 8.1% to US$ 175bn; regional powers “nervous”

    “Faced with profound changes in the national security environment, we must treat the Party’s goal of building a stronger armed forces for the new era,” said Li.

    China revealed on Monday that it will raise its military budget by US$ 175 billion for the 2018 fiscal year, 8.1% increase that is the largest military spending hike in three years. According to Premier Li Keqiang, the additional funding will “advance all aspects of military training and war preparedness, and firmly and resolvedly safeguard national sovereignty, security, and development interests.”

  • Tuesday, March 6th 2018 - 09:36 UTC

    Beijing anticipates 6.5% growth, steady rise in foreign trade and prudent and neutral monetary policy

    China opposes protectionism and supports the settlement of trade disputes through negotiation, but will “resolutely safeguard” its legitimate rights and interest.

    China aims to expand its economy by around 6.5% this year, the same as in 2017, while pressing ahead with its campaign to reduce risks in the financial system, Premier Li Keqiang said on Monday. The goal was kept unchanged even though the economy grew 6.9% last year and exceeded the government's target.

  • Monday, February 26th 2018 - 09:32 UTC

    Xi pushing for constitutional reform to stay in office indefinitely

    Xi, 64, has been China’s president since 2013 and is expected to be re-elected at a meeting of the country’s largely rubber-stamp legislature early next month.

    China says it plans to scrap a two-term limit for the country’s president and vice president, a move that could allow Chinese leader Xi Jinping to stay in office indefinitely. Expectations that Xi, China’s most powerful leader since Mao Zedong, was considering staying in office for more than the typical 10 years has been building for some time now. But the outline of amendment proposals announced by state media Sunday, including Article 79, confirmed those changes could soon become a reality.