logo
No escort, no dignitaries: EU leaders made to travel by bus in Beijing for meeting with Xi Jinping

No escort, no dignitaries: EU leaders made to travel by bus in Beijing for meeting with Xi Jinping

Indian Express28-07-2025
Top European Union officials were made to travel by bus without a police escort and received no official welcome upon arriving in Beijing for a high-level summit with Chinese President Xi Jinping — a diplomatic snub that set the tone for a tense meeting between the two sides.
A video of the July 24 visit shows EU Commission President Ursula von der Leyen and her delegation disembarking at the summit venue without any high-ranking Chinese officials present to greet them. There was no red carpet, no limousine, and no formal reception — a break from standard diplomatic protocol, especially at this level of engagement.
I completely agree with China govt's decision to arrange a bus to welcome the delegation led by EU Commission President Ursula von der Leyen, as it's an environmentally friendly move.
You know, Europeans like to be environmentally friendly. pic.twitter.com/jagSBjF6Wc
— ShanghaiPanda (@thinking_panda) July 26, 2025
The meeting, held in Beijing, made little progress on major geopolitical tensions. European leaders raised alarm over China's growing trade surplus, which they say is distorting global markets with underpriced goods, and over Beijing's alleged support for Russia's war in Ukraine.
'As our cooperation has deepened, so have imbalances,' von der Leyen told Xi during their meeting. She said EU-China trade relations had reached 'an inflection point' and called on Beijing to 'come forward with real solutions.'
Xi, in remarks published by China's Foreign Ministry, pushed back: 'It is hoped that the European side will keep the trade and investment market open and refrain from using restrictive economic and trade tools.'
Despite their differences, both sides did manage to agree on limited cooperation in two areas: climate change and critical raw materials. A joint statement reaffirmed mutual support for the green transition. They also agreed to set up what von der Leyen described as an 'upgraded export supply mechanism' to fast-track licenses for rare earth minerals — an area where China controls the global supply and has recently increased export restrictions.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Russia-Ukraine war: Zelenskyy warns as Russia gets support from China and Pakistan, accuses of Putin of...
Russia-Ukraine war: Zelenskyy warns as Russia gets support from China and Pakistan, accuses of Putin of...

India.com

time26 minutes ago

  • India.com

Russia-Ukraine war: Zelenskyy warns as Russia gets support from China and Pakistan, accuses of Putin of...

Russia-Ukraine war: Zelenskyy warns as Russia gets support from China and Pakistan, accuses of Putin of... The Russia-Ukraine war is far from over. Even after US President's attempt to initiate a truce, there has been no breakthrough. Moreover, Ukrainian President Volodymyr Zelenskyy made a big claim that Ukrainian soldiers in the north-eastern part of his country are facing foreign 'mercenaries' fighting on behalf of Russia. Ukrainian President Volodymyr Zelenskyy said these soldiers include people from China, Pakistan, Tajikistan, Uzbekistan and parts of Africa. Zelenskyy has talked about giving a tough response in this matter. His statements came after visiting a frontline area in the Kharkiv region, where he met with soldiers and commanders of the 57th Separate Motorised Infantry Brigade. 'We discussed with the commanders the situation on the frontline, the defence of Vavchansk and the latest combat developments. Our servicemen in this area reported that mercenaries from China, Tajikistan, Uzbekistan, Pakistan and African countries are taking part in the fighting. We will respond to this,' he wrote on the social media platform X. Why is Russia recruiting Chinese fighters? Zelenskyy had earlier accused Russia of recruiting Chinese fighters, which Beijing flatly rejected. Apart from this, North Korea has also sent thousands of troops to Russia's Kursk region. Reuters contacted the embassies of Tajikistan, Uzbekistan and Pakistan for comment on the matter, but there has been no official statement yet. Russia has also not made any immediate public comment on these claims of Zelenskyy. Is China silently helping Russia? According to Ukrainian military and intelligence sources, foreign mercenaries are operating under Russian private military companies such as the Wagner Group or new units affiliated with the Russian Defense Ministry. These groups are known to recruit fighters from economically weak or politically unstable regions, particularly Africa and Asia. Ukrainian authorities claim that evidence obtained on the battlefield, such as seized documents, confirms the presence of foreign fighters from various countries. What is China saying? Earlier this year, Zelenskyy claimed that Russia had deployed more than 100 Chinese citizens in the war against Ukraine. He also said that two Chinese fighters were captured in the Donetsk region. Zelenskyy also shared a video, which allegedly contained interrogation footage of these two Chinese fighters and photos of their passports. However, China rejected these claims as 'baseless' and said that it gives strict instructions to its citizens to prevent them from getting involved in armed conflicts.

The reason Europe should not be talking of Russia-India trade either
The reason Europe should not be talking of Russia-India trade either

First Post

time26 minutes ago

  • First Post

The reason Europe should not be talking of Russia-India trade either

Europe should not talk about the India-Russia trade because the European Union (EU) trade with Russia surpasses the India-Russia trade. Moreover, the EU last year paid more to Russia for energy imports than it gave to Ukraine in aid. read more Trucks are parked at a container terminal at the port of Astrakhan, Russia, May 17, 2016. (Photo: Svetlana Burmistrova/Reuters) Europe does not have any grounds to criticise India over the trade with Russia as the European Union's (EU) trade with Russia surpasses the India-Russia trade. Last year, the overall EU-Russia trade stood at $92.2 billion (€84.6 bn) compared to the India-Russia trade of around $66–70 bn. Even though US President Donald Trump has accused India of supporting the Russian war machinery and his supporters have called for India being hit with a sledgehammer, the fact remains that the EU last year paid more to Russia for energy imports than it provided in aid to Ukraine. STORY CONTINUES BELOW THIS AD Last year, EU members bought €21.9 billion ($25.4 bn) of Russian oil and gas compared to €18.7 bn ($21.69 bn) that they allocated in aid for Ukraine, according to estimates from the Centre for Research on Energy and Clean Air (CREA). Vaibhav Raghunandan, an analyst at CREA, told Guardian that such a behaviour amounts to 'sending financial aid to the Kremlin and enabling its invasion'. India not alone in buying Russian energy Even though Trump has singled out India, several other countries, including EU members and Nato ally Turkey, are the leading buyers of Russian fossil fuels. Since 2022 when Russia launched the full-scale invasion of Ukraine, the EU has been the largest buyer of Russian liquified natural gas (LNG) at 51 per cent of overall Russian LNG exports and pipeline gas at 37 per cent and Turkey —a Nato member— has been the largest buyer of Russian oil products at 26 per cent of Russian overall exports, according to CREA. Overall, estimates in the public domain have said that EU members have paid $215–235 billion to Russia for oil, gas, and coal imports since Russia launched the war on Ukraine in 2022 compared to $200 billion that they have allocated or pledged in aid to Ukraine. Moreover, the EU-Russia trade is much more varied than the India-Russia trade, which largely centres around oil. As per information in the public domain, in addition to oil and gas, EU members import chemicals, iron, steel, and other metals, and fishery and agricultural products from Russia. They export chemicals, machinery, pharmaceuticals, and transport equipment to Russia. STORY CONTINUES BELOW THIS AD

Antfin exits Paytm in Rs 3,800 crore bulk deal. What zero-Chinese ownership means for investors
Antfin exits Paytm in Rs 3,800 crore bulk deal. What zero-Chinese ownership means for investors

Economic Times

time26 minutes ago

  • Economic Times

Antfin exits Paytm in Rs 3,800 crore bulk deal. What zero-Chinese ownership means for investors

Marking a complete exit for Chinese investors from fintech One 97 Communications, which runs the payments platform Paytm, Ant Group's Antfin on Tuesday sold its entire 5.84% stake in large bulk deals valued at around Rs 3,800 crore. ADVERTISEMENT Antfin (Netherlands) Holding B.V., which is considered a Chinese entity as it is backed by Alibaba, is understood to have undergone a clean-up trade in Paytm this morning. It had appointed Goldman Sachs and Citi for the bulk deal, which was executed at a floor price of Rs 1,020 per share, market sources said. Following the deal, Paytm shares fell up to 1% to Rs 1,058 on BSE, but brokerages said the stock can also get some buoyancy considering the end of the Chinese overhang and could even be a precursor to the company receiving certain regulatory approvals. Antfin is the last remaining Chinese shareholder, and now Paytm will no longer have any Chinese ownership. "With the long-standing overhang from a major Chinese investor now removed, Paytm's stock could see a positive reaction as ownership concerns ease and supply pressure decreases. Such clean-out trades often provide clarity to the market, allowing investors to refocus on fundamentals and future growth. The exit also aligns the cap table more closely with regulatory expectations, which could be viewed favourably in the context of Paytm's pending payment aggregator license," said JM Financial's Sachin Dixit. With the exit of Antfin, Paytm's pre-IPO cap table has seen a near-complete churn. Major early backers, including Alibaba, SoftBank, and Berkshire Hathaway, have all exited fully over the past two years. Elevation Capital (formerly SAIF Partners) now stands as the only significant pre-IPO investor still holding a stake of 15.4% as of June 2025. ADVERTISEMENT "The current block deal removes Antfin from Paytm's cap table entirely, reducing its holding to zero. This exit aligns with broader regulatory and geopolitical dynamics with a more India-dominated shareholding structure as the company has faced scrutiny in the past over foreign ownership and data localisation concerns," JM Financial said. Also Read | Paytm Q1 Results: Co swings to black, logs Rs 122 crore profit vs YoY loss; revenue jumps 28% ADVERTISEMENT As far as Paytm's operating performance is concerned, the fintech has seen a sharp reversal from the regulatory disruption in January 2024 to report PAT profitability in the improvement in contribution margin (mid-high fifties) along with a controlled rise in indirect expenses can potentially trigger a rapid rise in absolute profits for the company, with focus reverting to sustainable growth, it said. ADVERTISEMENT Last month, Jefferies had upgraded Paytm shares to 'Buy' and raised the target price to Rs 1,250 per share. The stock has more than doubled in the last year. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store