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Arab News
14-07-2025
- Politics
- Arab News
Pakistan joins SCO foreign ministers' summit as Delhi-Islamabad tensions simmer
ISLAMABAD: Pakistan's deputy prime minister and foreign minister, Ishaq Dar, has arrived in China to attend a meeting of the Shanghai Cooperation Organization's (SCO) Council of Foreign Ministers (CFM), the Pakistani foreign ministry said on Monday, amid prevailing regional tensions. The meeting comes amid simmering regional tensions, particularly between India and Pakistan, following New Delhi's refusal to sign a recent SCO joint statement over its omission of a deadly April attack in Indian-administered Kashmir. The SCO, a trans-regional bloc comprising China, Russia, Pakistan, India, Iran, and Central Asian states, is expected to deliberate on pressing regional and global security, connectivity, and economic issues at the CFM meeting in Tianjin on July 15-16. Upon arrival in Beijing, Dar was received by Ambassador Yu Hong, a member of the Chinese's foreign ministry's Department of Asian Affairs, and Pakistan's Ambassador to China, Khalil-ur-Rehman Hashmi, along with other Chinese foreign ministry officials. 'DPM/FM will lead Pakistan's delegation to the SCO Council of Foreign Ministers Meeting in Tianjin tomorrow, call on the President of China along with other SCO Foreign Ministers, and hold bilateral meetings with his counterparts from SCO member states,' the Pakistani foreign ministry said. The CFM is the third highest forum in the SCO format that focuses on the issues of international relations as well as foreign and security policies of China-backed SCO. Last month, Beijing's bid for enhanced regional leadership suffered a setback when India rejected signing a joint statement put before defense ministers of the SCO, seen by some Western analysts as a regional grouping by China and Russia to counter United States influence in Asia, with New Delhi saying it was 'pro-Pakistan' in not mentioning April's attack on tourists in Indian-administered Kashmir. India blamed Pakistan for backing the gunmen behind the April 22 killing of 26 people. Islamabad denies the charge. In May, India and Pakistan exchanged fighter jet, missile, drone and artillery strikes for four days over the Kashmir attack, killing around 70 people on both sides before agreeing to US-brokered ceasefire. Separately, India's foreign minister Subrahmanyam Jaishankar told his Chinese counterpart Wang Yi in Beijing that the two countries must resolve friction along their border, pull back troops and avoid 'restrictive trade measures' to normalize their relationship, Reuters reported on Monday. Jaishankar arrived in Beijing on his first trip to China since 2020, when a deadly border clash between their troops led to a four-year military standoff and damaged ties until a thaw began in October, when they agreed to step back. 'It is now incumbent on us to address other aspects related to the border, including de-escalation,' Jaishankar was quoted as saying. Jaishankar met Chinese Vice President Han Zheng earlier in the day, the official Chinese news agency Xinhua reported. Han told Jaishankar that India and China should steadily advance practical cooperation and respect each other's concerns.
Arab News
14-07-2025
- Politics
- Arab News
Pakistan's Dar in China to attend SCO Council of Foreign Ministers amid regional tensions
ISLAMABAD: Pakistan's deputy prime minister and foreign minister, Ishaq Dar, has arrived in China to attend a meeting of the Shanghai Cooperation Organization's (SCO) Council of Foreign Ministers (CFM), the Pakistani foreign ministry said on Monday, amid prevailing regional tensions. The meeting comes amid simmering regional tensions, particularly between India and Pakistan, following New Delhi's refusal to sign a recent SCO joint statement over its omission of a deadly April attack in Indian-administered Kashmir. The SCO, a trans-regional bloc comprising China, Russia, Pakistan, India, Iran, and Central Asian states, is expected to deliberate on pressing regional and global security, connectivity, and economic issues at the CFM meeting in Tianjin on July 15-16. Upon arrival in Beijing, Dar was received by Ambassador Yu Hong, a member of the Chinese's foreign ministry's Department of Asian Affairs, and Pakistan's Ambassador to China, Khalil-ur-Rehman Hashmi, along with other Chinese foreign ministry officials. 'DPM/FM will lead Pakistan's delegation to the SCO Council of Foreign Ministers Meeting in Tianjin tomorrow, call on the President of China along with other SCO Foreign Ministers, and hold bilateral meetings with his counterparts from SCO member states,' the Pakistani foreign ministry said. The CFM is the third highest forum in the SCO format that focuses on the issues of international relations as well as foreign and security policies of China-backed SCO. Last month, Beijing's bid for enhanced regional leadership suffered a setback when India rejected signing a joint statement put before defense ministers of the SCO, seen by some Western analysts as a regional grouping by China and Russia to counter United States influence in Asia, with New Delhi saying it was 'pro-Pakistan' in not mentioning April's attack on tourists in Indian-administered Kashmir. India blamed Pakistan for backing the gunmen behind the April 22 killing of 26 people. Islamabad denies the charge. In May, India and Pakistan exchanged fighter jet, missile, drone and artillery strikes for four days over the Kashmir attack, killing around 70 people on both sides before agreeing to US-brokered ceasefire. Separately, India's foreign minister Subrahmanyam Jaishankar told his Chinese counterpart Wang Yi in Beijing that the two countries must resolve friction along their border, pull back troops and avoid 'restrictive trade measures' to normalize their relationship, Reuters reported on Monday. Jaishankar arrived in Beijing on his first trip to China since 2020, when a deadly border clash between their troops led to a four-year military standoff and damaged ties until a thaw began in October, when they agreed to step back. 'It is now incumbent on us to address other aspects related to the border, including de-escalation,' Jaishankar was quoted as saying. Jaishankar met Chinese Vice President Han Zheng earlier in the day, the official Chinese news agency Xinhua reported. Han told Jaishankar that India and China should steadily advance practical cooperation and respect each other's concerns.
Malaysia Sun
25-05-2025
- Business
- Malaysia Sun
Stronger China-ASEAN partnership amid U.S. trade war
The ASEAN logo in front of the Petronas Twin Towers in Kuala Lumpur, Malaysia, May 15, 2025. /CFP Editor's note: Yu Hong, a special commentator on current affairs for CGTN, is a senior research fellow of the East Asian Institute, National University of Singapore. The article reflects the author's opinions and not necessarily the views of CGTN. As Malaysia hosts the 46th ASEAN Summit and related meetings in Kuala Lumpur, it has to be borne in mind that Southeast Asia is among the regions hit hardest by U.S. tariffs. On April 2, the U.S. government announced so-called "reciprocal tariffs" on the ground that it was trying to reduce the United States' huge trade deficit and counteract the alleged unfair trade practices of its trading partners. As export-oriented economies, Southeast Asian countries are facing daunting challenges since they are highly dependent on the U.S. market for their merchandise exports. While the U.S. has agreed to a 90-day moratorium on "reciprocal tariffs" on most countries, there is mounting uncertainty about the future. Southeast Asian countries urgently need to strengthen their economic integration and explore new foreign trade strategies, building new partnerships and consolidating the existing ones to diversify trade. This will enable them to hedge the potential impact of uncertainty and trade shock. In the face of the escalating trade war between China and the United States, ASEAN countries have been taking prudent measures to balance their economic and trade relations with both powers. China is their largest trading partner, whilst the United States is a key export market. They have sent officials to the U.S. for trade negotiation while seeking to deepen their economic ties with China. The U.S. seems to be interested in promoting "de-sinicization" of the supply chain of Southeast Asia, while China is strengthening the interconnection of its industrial and supply chains with the region through mechanisms such as the China-ASEAN Free Trade Area (CAFTA) and the Regional Comprehensive Economic Partnership. In response to the impact of the "reciprocal tariffs," ASEAN and China have a strong will to strengthen bilateral economic and trade ties, and deepen cooperation to promote stability and economic growth in the Asia-Pacific region. ASEAN Secretary-General Kao Kim Hourn gives an interview to Xinhua in Jakarta, Indonesia, March 25, 2025. /Xinhua During an interview this year, ASEAN Secretary-General Kao Kim Hourn, while advocating multilateralism to address common challenges, said the bloc is committed to deepening its comprehensive strategic partnership with China. In the face of the rise of global protectionism, he expressed ASEAN's resolve to uphold free trade and "to keep the global economic trading system open, free and rule-based." The proportion of China-ASEAN trade in goods in ASEAN's total foreign trade rose from 11.6 percent in 2009 to nearly 20 percent in 2023, exceeding ASEAN's trade with other major trading partners. Since the China-ASEAN relationship was upgraded to a comprehensive strategic partnership in 2021, their bilateral trade has continued to increase. By 2024, they were each other's largest trading partners for five consecutive years. In the first quarter of 2025, ASEAN continued to be China's largest trading partner, with total trade of 1.71 trillion yuan ($234.17 billion), a year-on-year increase of 7.1 percent. Its proportion of China's overall foreign trade increased to 16.6 percent. Bilateral investment cooperation is also deepening. In 2023, China was the second largest source of foreign investment in ASEAN, with its direct investment reaching $25.12 billion, a 34.7 surge year on year. ASEAN is becoming the priority region for many Chinese enterprises going overseas. In addition, ASEAN is also an important source of foreign investment for China. The combined population of China and the ASEAN countries is more than two billion, with a very sizable middle-income group. This will provide a huge market demand and strong impetus for regional economic growth. Version 3.0 of CAFTA is expected to open up new space for industrial and supply chain cooperation between the two. Negotiations for that have been concluded, with the two sides agreeing to expand cooperation in emerging areas such as the digital economy, green economy, and supply chains. They have also agreed to strengthen mutual integration and connectivity in areas such as standards and rules, and jointly promote trade facilitation and inclusive development. The conclusion of the CAFTA 3.0 negotiations demonstrates the political determination of both to uphold the rule-based multilateral trading system. The implementation of CAFTA 3.0 will give new impetus to regional integration and promote open and inclusive economic globalization. Chinese President Xi Jinping visited three ASEAN countries, Vietnam, Malaysia and Cambodia, in April. China issued a joint statement with each country, confirming the need to strengthen economic and trade cooperation, and jointly build a stable industrial and supply chain. Looking ahead, ASEAN and China can explore strengthening mutually beneficial cooperation in emerging areas such as the digital economy, artificial intelligence, electric vehicles and clean energy. China's growing economic influence in the region can provide market space for ASEAN countries in the face of global trade challenges. However, ASEAN countries are also concerned about the potential risk of Chinese goods pouring into the ASEAN market, which could have a negative impact on local industry and employment. To forge closer China-ASEAN integration, China should continue to further open up the domestic market, and reduce trade and non-trade barriers. (If you want to contribute and have specific expertise, please contact us at opinions@ Follow @thouse_opinions on Twitter to discover the latest commentaries in the CGTN Opinion Section.) Source: CGTN
Khaleej Times
02-04-2025
- Business
- Khaleej Times
China sees bumper demand for debut international green bond
China saw strong demand for its debut sovereign green bond on Wednesday, with investors saying it was a welcome sign for the sustainable debt market as the United States backpedals from its climate commitments. Bankers selling the modestly sized 6 billion yuan ($825 million) bond, which is to be listed in London, told potential buyers that demand for the dual three- and five-year tranche bond had surged to 47 billion yuan ($6.47 billion). The final price dropped to 1.88% on the three-year tranche, having initially been set at 2.3%, and to 1.93% from 2.35% on the five-year tranche. Green bonds are intended to finance investments needed to tackle or adapt to climate change and to boost sustainable economic development. The Chinese Finance Ministry's director general, Yu Hong, and his deputy director general, Xing Chaohong, met with investors in London on Tuesday and outlined a list of projects the money could be spent on, ranging from electric car charging and national parks to hydroelectric projects. "It is a relatively powerful signal, as it comes at a time when the U.S. is pulling back from climate commitments," Nicolas Jaquier, a sustainable debt manager at investment firm Ninety One, said. "It is a sign that China is looking to step up," he added. "It's also a good sign for other smaller emerging markets who might have been a bit tentative, as it shows that a big power is taking climate finance seriously." China's Finance Ministry could not be immediately reached for comment on the result of the bond sale outside of regular Beijing business hours. It had flagged its plans earlier in the year after British finance minister Rachel Reeves met Vice Premier He Lifeng in Beijing to discuss "pragmatic cooperation" on financial services, trade, investment and climate issues. China is the world's largest producer of climate-warming greenhouse gases, but has said it wants to bring its carbon dioxide emissions to a peak before 2030 and become carbon-neutral by 2060. Although the sovereign green bond is an international first for China, its companies have been highly active in the market. Moody's estimates that almost $410 billion of green bonds had been issued by Chinese companies by the end of last year. The near $50-billion-worth sold last year accounted for 8% share of global green bond issuance in an overall market which has ballooned to over $3 trillion in recent years. The finance ministry published a green bond "framework" in February which described the government's bond plans as an effort to "attract international funds to support domestic green and low-carbon development."
Reuters
01-04-2025
- Business
- Reuters
China's to sell first global green sovereign bond on Wednesday
LONDON, April 1 (Reuters) - China is set to finalise its long-awaited debut global green sovereign bond on Wednesday in what is expected to be the first in a series of sales that will expand its footprint in the market at a pivotal time. Having signalled it was ready last month, top Chinese finance ministry officials laid out the details at a meeting with investors in London on Tuesday, where the 6 billion yuan ($825 million) bond is set to be issued on the London Stock Exchange. The green bond market has ballooned to be worth roughly $3 trillion in recent years. China's firms, including state-run ones, have contributed significantly to that growth, but international investors have long been waiting for the government to make its move for years. Chinese Finance Ministry's Director General Yu Hong and his Deputy Director General Xing Chaohong outlined that it would come in two parts - one with a 3-year maturity - or end date - and the second with 5-year maturity. Both will have fixed interest rates. They are expected to be sub 2% although it will depend on demand during the formal sale process which is being overseen by no fewer than eight banks from both China and Europe. A Chinese global bond - one issued in one of the main international finance centres - has long been anticipated given the country's size. China's plan finally emerged earlier this year after British Finance Minister Rachel Reeves met China's Vice Premier He Lifeng in Beijing to discuss "pragmatic co-operation" on financial services, trade, investment and climate issues. China is the world's largest producer of climate-warming greenhouse gases, but has said it wants to bring its carbon dioxide emissions to a peak before 2030 and become carbon neutral by 2060. In February, the finance ministry published its green bond framework, calling it an effort to "attract international funds to support domestic green and low-carbon development." It flagged Climate Change Mitigation, Climate Change Adaptation, Natural Resource Conservation, Pollution Prevention and Control and Biodiversity Conservation as its five key priorities. One investor who attended Tuesday's meeting said some of the details on what exactly the money raised would be used for included the country's electric vehicle charging network and its national parks. ($1 = 7.2697 Chinese yuan renminbi)
