Manicured children strut down the catwalk at<a href="https://www.wionews.com/world/beijings-new-multi-billion-dollar-starfish-airport-set-to-open-in-september-231977"> a Beijing</a> fashion show, one of the thousands of events driving huge demand for child models in China that insiders warn leaves minors vulnerable to physical abuse, 12 hour days and unrelenting pressure from pushy parents.

The kid's apparel market is growing faster than any other clothing sector in the country and was worth more than $40.5 billion in 2018 according to Euromonitor.&nbsp;

This combined with the rise of "kidfluencers" sponsored by brands to promote products on social media is spurring greater demand for young models but experts warn of the heavy cost of pursuing such deals.&nbsp;&nbsp;

"If children don't listen to the parents then I think hitting them is quite standard," Lee Ku, founder of Le Show Stars modelling school, told AFP.

A video of a mother kicking her three-year-old daughter in fury at her failure to comply during a modelling job went viral earlier this year, causing outrage online.

And footage emerged in early August online of a young boy modelling thick winter clothes outside as temperatures soared to 37 degrees Celsius, also drawing heavy online criticism.&nbsp;

But in an industry where minors can earn 10,000 yuan ($1,450)a session, Lee says the clip is the tip of the iceberg and that from his experience, such violent behaviour from parents was not unusual on shoots.

Child models sometimes go through more than 100 outfit changes in a session, often working from morning till night.&nbsp;

But mental health experts warn it is not just physical exhaustion they have to contend with there may be long term emotional implications.&nbsp;

"Children from the age of zero to six are mentally developing, they need a lot of exploration and freedom," explained child psychologist Gong Xueping.

"At work, the child model will deliberately show a lot of different expressions... but this is contrary to the child's feelings of the moment. This limits the development of both emotional abilities and more complex psychological abilities for children, so I think it's a very bad choice," Gong added.&nbsp;

Hundreds of competitions

But there remains no shortage of parents interested in pushing their children into the profession.

Founded three years ago, Le Show Stars was one of the first modelling schools in Beijing, where customers pay up to 800 yuan for private one on one lessons.

Four-year-old twins Yumi and Yuki Xiao are not yet professional models but for nearly two years they have been taking classes where they are taught how to pose and pace the catwalk in the hopes that they can break into the industry.

"For some catwalking competitions, they have to be in the makeup room by 6 am," their father Xiao Liang said.&nbsp;

"The real competition starts at 2 pm, and they finish around 3 pm or 4. So the whole thing takes a whole day. From 6 am to 6 pm, 12 hours is pretty standard."

Their parents invest in taking them around the country to compete in hundreds of national child modelling competitions.&nbsp;

"It's a lot of fun I like being on stage," insisted Yumi.

Like many other parents, Xiao says he initially enrolled the two in child modelling to build their self-confidence, but after Yumi and Yuki showed interest they started to invest more time and money into building a possible child modelling career path for them.

Occasionally the twins are paid to model seasonal fashion lines for big brands.

"I think they are one of a kind, firstly, they're twins, and they're also boy-girl twins," father Xiao says proudly.&nbsp;

"They also like it, which is why we are giving them this opportunity. I think they have a natural advantage over other kids," he added.&nbsp;

'Lost childhoods'

<a href="https://www.wionews.com/world/chinese-human-rights-lawyer-lands-in-us-despite-travel-ban-240624">China's laws</a> around child labour are complicated and parents of underage models are sometimes paid in secret to sidestep the red tape required to employ them.&nbsp;

Responding to the kicking video, Hangzhou authorities introduced regulations to limit the hour's children's work and ban children under 10 from being brand spokespeople.&nbsp;

But many feel authorities are doing too little to protect kids from exploitation.&nbsp;

More than 110 child retailers on e-commerce giant Taobao said they would scale back the use of young models, and also demanded more regulations.

Thousands have debated the topic online, calling for rules to be tightened to prevent abuse.&nbsp;

"To me, child models are nothing different from child labour. They have to finish their work no matter how tired they are when other children are playing and their short childhoods are lost making money for their parents. I suggest that we step up legislation...to protect their rights and interests," one Weibo user said.

Another commented some parents see their offspring only as a "money-making tool" adding: "The only way is to strengthen regulation, supervision, and protection."

Xiao and his wife Bai Yu said they were aware of the potential pitfalls of the profession and any decision to pursue the profession would be up to their son and daughter.&nbsp;

He said: "If they study well and they are interested in the prospect (of being a model), then I am sure to be 100 per cent supportive, as long as they are willing to spend their energy in this area." 
&nbsp;

Manicured children strut down the catwalk at a Beijing fashion show, one of the thousands of events driving huge demand for child models in China that insiders warn leaves minors vulnerable to physical abuse, 12 hour days and unrelenting pressure from pushy parents.

Manicured children strut down the catwalk at a Beijing fashion show, one of the thousands of events driving huge demand for child models in China that insiders warn leaves minors vulnerable to physical abuse, 12 hour days and unrelenting pressure from pushy parents. The kid's apparel market is growing faster than any other clothing sector in the country and was worth more than $40.5 billion in 2018 according to Euromonitor. This combined with the rise of "kidfluencers" sponsored by brands to promote products on social media is spurring greater demand for young models but experts warn of the heavy cost of pursuing such deals. "If children don't listen to the parents then I think hitting them is quite standard," Lee Ku, founder of Le Show Stars modelling school, told AFP. A video of a mother kicking her three-year-old daughter in fury at her failure to comply during a modelling job went viral earlier this year, causing outrage online. And footage emerged in early August online of a young boy modelling thick winter clothes outside as temperatures soared to 37 degrees Celsius, also drawing heavy online criticism. But in an industry where minors can earn 10,000 yuan ($1,450)a session, Lee says the clip is the tip of the iceberg and that from his experience, such violent behaviour from parents was not unusual on shoots. Child models sometimes go through more than 100 outfit changes in a session, often working from morning till night. But mental health experts warn it is not just physical exhaustion they have to contend with there may be long term emotional implications. "Children from the age of zero to six are mentally developing, they need a lot of exploration and freedom," explained child psychologist Gong Xueping. "At work, the child model will deliberately show a lot of different expressions... but this is contrary to the child's feelings of the moment. This limits the development of both emotional abilities and more complex psychological abilities for children, so I think it's a very bad choice," Gong added. Hundreds of competitions But there remains no shortage of parents interested in pushing their children into the profession. Founded three years ago, Le Show Stars was one of the first modelling schools in Beijing, where customers pay up to 800 yuan for private one on one lessons. Four-year-old twins Yumi and Yuki Xiao are not yet professional models but for nearly two years they have been taking classes where they are taught how to pose and pace the catwalk in the hopes that they can break into the industry. "For some catwalking competitions, they have to be in the makeup room by 6 am," their father Xiao Liang said. "The real competition starts at 2 pm, and they finish around 3 pm or 4. So the whole thing takes a whole day. From 6 am to 6 pm, 12 hours is pretty standard." Their parents invest in taking them around the country to compete in hundreds of national child modelling competitions. "It's a lot of fun I like being on stage," insisted Yumi. Like many other parents, Xiao says he initially enrolled the two in child modelling to build their self-confidence, but after Yumi and Yuki showed interest they started to invest more time and money into building a possible child modelling career path for them. Occasionally the twins are paid to model seasonal fashion lines for big brands. "I think they are one of a kind, firstly, they're twins, and they're also boy-girl twins," father Xiao says proudly. "They also like it, which is why we are giving them this opportunity. I think they have a natural advantage over other kids," he added. 'Lost childhoods' China's laws around child labour are complicated and parents of underage models are sometimes paid in secret to sidestep the red tape required to employ them. Responding to the kicking video, Hangzhou authorities introduced regulations to limit the hour's children's work and ban children under 10 from being brand spokespeople. But many feel authorities are doing too little to protect kids from exploitation. More than 110 child retailers on e-commerce giant Taobao said they would scale back the use of young models, and also demanded more regulations. Thousands have debated the topic online, calling for rules to be tightened to prevent abuse. "To me, child models are nothing different from child labour. They have to finish their work no matter how tired they are when other children are playing and their short childhoods are lost making money for their parents. I suggest that we step up legislation...to protect their rights and interests," one Weibo user said. Another commented some parents see their offspring only as a "money-making tool" adding: "The only way is to strengthen regulation, supervision, and protection." Xiao and his wife Bai Yu said they were aware of the potential pitfalls of the profession and any decision to pursue the profession would be up to their son and daughter. He said: "If they study well and they are interested in the prospect (of being a model), then I am sure to be 100 per cent supportive, as long as they are willing to spend their energy in this area."

China's child modelling industry booms amid controversy

About 14,000 protesters also have joined the city-wide strikes. These Anti-government protesters blocked the trains & commuters. Protesters defy the warnings of Beijing.

Hong Kong protest wakes up to Monday, pro-democracy protest gets drastic

Trade war whiplash and other market themes for the week ahead

A Chinese human rights lawyer said Sunday he had landed in the United States despite being stopped from leaving Beijing in April by mainland authorities who imposed an exit ban on him.

"My family and I have landed in JFK airport, New York, late night on August 3, 2019," Chen Jiangang said in a statement provided by a friend to AFP.&nbsp;

In April, the lawyer was pulled aside by customs at Beijing Capital airport as he prepared to board a flight to Seattle and told him he was banned from leaving China.

He had been selected to study English there as part of the Hubert H. Humphrey Fellowship, a program named for the late vice president that provides a year of US education for emerging leaders from around the world.

Beijing defended the ban as "in accordance with China's own laws", but the <a href="https://www.wionews.com/world/us-state-department-welcomes-news-of-ceasefire-in-northwest-syria-240525">US State Department</a> called it disturbing.

It was Chen's work as a human rights lawyer in China that landed him in authority crosshairs.

Chen represented Xie Yang a leading lawyer involved in politically sensitive cases including defending Hong Kong pro-democracy activists who were himself rounded up in a sweeping crackdown on legal staff in 2015.

Chen remained vocal on the case even after authorities removed him as Xie's lawyer, drawing attention to his former client's allegations of torture in police custody.

In a separate 2017 incident criticized by the United Nations human rights office, Chen was stopped while vacationing with his family in remote Yunnan province.

His wife and young children were allowed to fly back to Beijing, but Chen said he was taken back via a 3,200 kilometre (2,000 miles) road journey under police escort.

"Merely for following and defending the law in normal practice, I have met naked threats delivered in my face by officials representing the<a href="https://www.wionews.com/opinions/china-is-building-a-global-coalition-of-human-rights-violators-to-defend-its-record-in-xinjiang-237132"> Chinese government</a>," Chen said in Sunday's statement.

"Such threats have put me in imminent danger of enforced disappearance, torture, or even death."&nbsp;&nbsp;

Chen did not say how he came to leave China, but thanked friends and human rights organisations for their "rescue work and help".

"Without them, our family would not have made it to freedom," he said.&nbsp;

A Chinese human rights lawyer said Sunday he had landed in the United States despite being stopped from leaving Beijing in April by mainland authorities who imposed an exit ban on him.

A Chinese human rights lawyer said Sunday he had landed in the United States despite being stopped from leaving Beijing in April by mainland authorities who imposed an exit ban on him. "My family and I have landed in JFK airport, New York, late night on August 3, 2019," Chen Jiangang said in a statement provided by a friend to AFP. In April, the lawyer was pulled aside by customs at Beijing Capital airport as he prepared to board a flight to Seattle and told him he was banned from leaving China. He had been selected to study English there as part of the Hubert H. Humphrey Fellowship, a program named for the late vice president that provides a year of US education for emerging leaders from around the world. Beijing defended the ban as "in accordance with China's own laws", but the US State Department called it disturbing. It was Chen's work as a human rights lawyer in China that landed him in authority crosshairs. Chen represented Xie Yang a leading lawyer involved in politically sensitive cases including defending Hong Kong pro-democracy activists who were himself rounded up in a sweeping crackdown on legal staff in 2015. Chen remained vocal on the case even after authorities removed him as Xie's lawyer, drawing attention to his former client's allegations of torture in police custody. In a separate 2017 incident criticized by the United Nations human rights office, Chen was stopped while vacationing with his family in remote Yunnan province. His wife and young children were allowed to fly back to Beijing, but Chen said he was taken back via a 3,200 kilometre (2,000 miles) road journey under police escort. "Merely for following and defending the law in normal practice, I have met naked threats delivered in my face by officials representing the Chinese government," Chen said in Sunday's statement. "Such threats have put me in imminent danger of enforced disappearance, torture, or even death." Chen did not say how he came to leave China, but thanked friends and human rights organisations for their "rescue work and help". "Without them, our family would not have made it to freedom," he said.

Chinese human rights lawyer lands in United States despite travel ban

Hong Kong: A timeline of anti-government protests since China handover

<a href="https://www.wionews.com/world/how-cpec-is-used-to-traffic-young-pakistani-women-to-china-210874">China Pakistan Economic Corridor (CPEC)</a> is not an investment into Pakistan but is structured as a resource extraction exercise, a US based frontier, and emerging market analyst has said.

In an article published by Medium.com, Farooq Tirmizi wrote that the majority of <a href="https://www.wionews.com/world/china-denies-cpec-intensified-pakistans-economic-risks-208789">Chinese investment in Pakistan</a> is self-proclaimed and is not benefitting the local economy.

"China announces that it has invested in a project in Pakistan worth, let's say US $1 billion. That US $1 billion, however, is required to mostly be spent on Chinese equipment, and labor, a significant portion of which is to be imported from China as well, with very little by way of supplies coming from the local economy," Tirmizi said.

That said amount, therefore, never hits Pakistan's economy as an investment, and goes from the Chinese government or state-owned company to a state-owned company within China to pay for equipment.&nbsp;

Even Chinese labor gets its salaries deposited into bank accounts within China.

"The money, in other words, stays completely within China and so never shows up as foreign investment into Pakistan", said Tirmizi.

The analyst believes that the majority of people in Pakistan are willing to join hands with Washington rather having faith in Beijing.

"If ever there was thought within Pakistan`s leadership political, military, and business that Beijing could replace Washington as the foreign capital with the most influence in Islamabad, that idea is now firmly dead. We just have not gotten around to telling China yet," Tirmizi added.

"Over the past few weeks, Profit has spoken to several sources in both Pakistan's business elite circles as well as people who are familiar with the thought process of the military leadership and the picture emerging is not a favorable one of the relationship with China: the more Pakistanis learn about the true costs of the China Pakistan Economic Corridor (CPEC), the less inclined they are to want to participate any further than we already have," the article read.

The analyst also believes that there is a growing imbalance in trade between Pakistan and China.

"Pakistan's imports from China have dramatically increased since 2013 when CPEC was first announced. Prior to 2013, Pakistan`s imports from China had been rising because of the 2007 China Pakistan Free Trade Agreement but had stabilized to around $6.6 billion a year. After 2013, the rise has been very steep," the article added.

Since 2013, China's net investment into Pakistan has been US $2.5 billion, which is much higher than the US $813 million China invested in Pakistan in the 10 years prior to 2013, but still a relatively small sum compared to the wild projections and promises that the Pakistani press and government wanted to believe when it was first announced.

While Pakistan's civilian and military leadership is prone to making bad decisions, they are not completely stupid.&nbsp;

They can see these numbers, and they are privy to far more details than have been told to the public about the specific terms of the agreements with China for CPEC projects.

&nbsp;And it is becoming increasingly clear that they are becoming deeply uncomfortable with the direction this has taken Pakistan.

"Neither the civilian politicians nor the military leadership wants to accept the blame for what is clearly a massive blunder on the part of the government of Pakistan in negotiating the CPEC contracts. If any lawyers reviewed them, it is unclear if they understood them, or if their views were taken into consideration at all by the decision makers", said the analyst.&nbsp;

"The deed is done now, however, and Pakistan cannot easily extricate itself from these arrangements. But, sources familiar with the military leadership's thinking tell Profit, the leadership in the military has decided to start following the first rule of being in a hole: stop digging" he added.

"A public renunciation of CPEC would be too embarrassing for the government both the politicians and the Army but they are certainly not willing to undertake any further agreements with the government of China", the analyst concluded.&nbsp; 
&nbsp;

China Pakistan Economic Corridor (CPEC) is not an investment into Pakistan but is structured as a resource extraction exercise, a US based frontier, and emerging market analyst has said.

China Pakistan Economic Corridor (CPEC) is not an investment into Pakistan but is structured as a resource extraction exercise, a US based frontier, and emerging market analyst has said. In an article published by Medium.com, Farooq Tirmizi wrote that the majority of Chinese investment in Pakistan is self-proclaimed and is not benefitting the local economy. "China announces that it has invested in a project in Pakistan worth, let's say US $1 billion. That US $1 billion, however, is required to mostly be spent on Chinese equipment, and labor, a significant portion of which is to be imported from China as well, with very little by way of supplies coming from the local economy," Tirmizi said. That said amount, therefore, never hits Pakistan's economy as an investment, and goes from the Chinese government or state-owned company to a state-owned company within China to pay for equipment. Even Chinese labor gets its salaries deposited into bank accounts within China. "The money, in other words, stays completely within China and so never shows up as foreign investment into Pakistan", said Tirmizi. The analyst believes that the majority of people in Pakistan are willing to join hands with Washington rather having faith in Beijing. "If ever there was thought within Pakistan`s leadership political, military, and business that Beijing could replace Washington as the foreign capital with the most influence in Islamabad, that idea is now firmly dead. We just have not gotten around to telling China yet," Tirmizi added. "Over the past few weeks, Profit has spoken to several sources in both Pakistan's business elite circles as well as people who are familiar with the thought process of the military leadership and the picture emerging is not a favorable one of the relationship with China: the more Pakistanis learn about the true costs of the China Pakistan Economic Corridor (CPEC), the less inclined they are to want to participate any further than we already have," the article read. The analyst also believes that there is a growing imbalance in trade between Pakistan and China. "Pakistan's imports from China have dramatically increased since 2013 when CPEC was first announced. Prior to 2013, Pakistan`s imports from China had been rising because of the 2007 China Pakistan Free Trade Agreement but had stabilized to around $6.6 billion a year. After 2013, the rise has been very steep," the article added. Since 2013, China's net investment into Pakistan has been US $2.5 billion, which is much higher than the US $813 million China invested in Pakistan in the 10 years prior to 2013, but still a relatively small sum compared to the wild projections and promises that the Pakistani press and government wanted to believe when it was first announced. While Pakistan's civilian and military leadership is prone to making bad decisions, they are not completely stupid. They can see these numbers, and they are privy to far more details than have been told to the public about the specific terms of the agreements with China for CPEC projects. And it is becoming increasingly clear that they are becoming deeply uncomfortable with the direction this has taken Pakistan. "Neither the civilian politicians nor the military leadership wants to accept the blame for what is clearly a massive blunder on the part of the government of Pakistan in negotiating the CPEC contracts. If any lawyers reviewed them, it is unclear if they understood them, or if their views were taken into consideration at all by the decision makers", said the analyst. "The deed is done now, however, and Pakistan cannot easily extricate itself from these arrangements. But, sources familiar with the military leadership's thinking tell Profit, the leadership in the military has decided to start following the first rule of being in a hole: stop digging" he added. "A public renunciation of CPEC would be too embarrassing for the government both the politicians and the Army but they are certainly not willing to undertake any further agreements with the government of China", the analyst concluded.

CPEC structured as a resource extraction exercise: Expert

Pro-democracy protesters in Hong Kong erected barricades in a popular tourist district and briefly blocked a major tunnel Saturday evening, defying increasingly stern warnings from China over weeks-long unrest that has plunged the city into crisis.

The semi-autonomous southern Chinese financial hub has seen two months of protests and clashes triggered by opposition to a planned extradition law that quickly evolved into a wider movement for democratic reforms.

Authorities in <a href="https://www.wionews.com/opinions/hong-kong-protests-city-workers-expats-and-unions-join-clamour-making-it-even-harder-for-china-to-ignore-239983">Hong Kong</a> and Beijing this week signalled a hardening stance, including with the arrests of dozens of protesters, and the Chinese military saying it was ready to quell the "intolerable" unrest if requested.

But protesters have remained unyielding, vowing to hold multiple occupations and rallies into next week, sending tensions soaring once more.

On Saturday they embraced their mantra "be water" a philosophy of unpredictability espoused by local martial arts legend Bruce Lee in a bid to keep police guessing.&nbsp;

Throughout the evening they put up makeshift barricades across multiple roads in Tsim Sha Tsui, a popular shopping and tourist district on the harbourfront, where many luxury malls and hotels shut their doors.

They also blocked one of the three cross-harbour tunnels connecting to the main island, causing widespread traffic chaos, before disappearing after half an hour.&nbsp;

"We will fight as guerrillas today and be water," a masked and helmeted 19-year-old, who gave her surname Lee, told AFP.

In a statement, police called on protesters to "stop their illegal acts" and told members of the public to avoid the area.

City-wide strike

Many of the chants and graffiti tags that were thrown up called for residents to join a planned strike on Monday.

"The more the government suppresses us, the more we will come out until the government responds to our demands," protester Ah Kit, 36, told AFP.

Two marches are also planned for Sunday one on Hong Kong island and the other in the Tseung Kwan O district as well as a city-wide strike on Monday and rallies in seven locations.

The call for strike action appears to be gaining more traction than previous walkouts, with a host of organizations and unions vowing to join.

Hong Kong has witnessed eight consecutive weekends of huge rallies often followed by violent clashes between police and small groups of hardcore protesters.

Under the terms of the 1997 handover deal with Britain, the city has rights and liberties unseen on the <a href="https://www.wionews.com/world/us-to-hit-300-billion-worth-of-chinese-goods-with-10-tariff-donald-trump-240021">Chinese</a> mainland, including an independent judiciary and freedom of speech.

But many say those rights are being curtailed, citing the disappearance into mainland custody of dissident booksellers, the disqualification of prominent politicians and the jailing of pro-democracy protest leaders.

Public anger has been compounded by rising inequality and the perception that the city's distinct language and culture are being threatened by ever-closer integration with the Chinese mainland.

On Saturday evening, protesters tore down the Chinese flag from a pole on the waterfront and threw it in the harbour.

Violence escalating

The past two weekends have seen a surge in violence used by both protesters and police, who have repeatedly fired rubber bullets and tear gas to disperse projectile-throwing crowds.&nbsp;

A mob of pro-government thugs also attacked demonstrators, putting 45 people in hospital.

Hong Kong's police have increasingly adopted tougher tactics, including this week charging 44 protesters with rioting an offence that carries up to 10 years in jail.

Hong Kong chief executive Carrie Lam has made few concessions beyond agreeing to suspend the extradition bill and shied away from public appearances.

Protesters are demanding her resignation, an independent inquiry into police tactics, an amnesty for those arrested, a permanent withdrawal of the bill, and the right to elect their leaders.

Thousands of pro-government supporters also held a rally in a separate park on Saturday, many waving Chinese flags and chanting slogans in support of the police who have refuted allegations of using excessive force.

Beijing has increasingly pitched the anti-government protests as funded by the West.

China has provided little evidence beyond supportive statements from some Western politicians and critics say Beijing's accusations of foreign meddling ignore Hong Kongers' legitimate grievances. 
&nbsp;

Pro-democracy protesters in Hong Kong erected barricades in a popular tourist district and briefly blocked a major tunnel Saturday evening, defying increasingly stern warnings from China over weeks-long unrest that has plunged the city into crisis.

Pro-democracy protesters in Hong Kong erected barricades in a popular tourist district and briefly blocked a major tunnel Saturday evening, defying increasingly stern warnings from China over weeks-long unrest that has plunged the city into crisis. The semi-autonomous southern Chinese financial hub has seen two months of protests and clashes triggered by opposition to a planned extradition law that quickly evolved into a wider movement for democratic reforms. Authorities in Hong Kong and Beijing this week signalled a hardening stance, including with the arrests of dozens of protesters, and the Chinese military saying it was ready to quell the "intolerable" unrest if requested. But protesters have remained unyielding, vowing to hold multiple occupations and rallies into next week, sending tensions soaring once more. On Saturday they embraced their mantra "be water" a philosophy of unpredictability espoused by local martial arts legend Bruce Lee in a bid to keep police guessing. Throughout the evening they put up makeshift barricades across multiple roads in Tsim Sha Tsui, a popular shopping and tourist district on the harbourfront, where many luxury malls and hotels shut their doors. They also blocked one of the three cross-harbour tunnels connecting to the main island, causing widespread traffic chaos, before disappearing after half an hour. "We will fight as guerrillas today and be water," a masked and helmeted 19-year-old, who gave her surname Lee, told AFP. In a statement, police called on protesters to "stop their illegal acts" and told members of the public to avoid the area. City-wide strike Many of the chants and graffiti tags that were thrown up called for residents to join a planned strike on Monday. "The more the government suppresses us, the more we will come out until the government responds to our demands," protester Ah Kit, 36, told AFP. Two marches are also planned for Sunday one on Hong Kong island and the other in the Tseung Kwan O district as well as a city-wide strike on Monday and rallies in seven locations. The call for strike action appears to be gaining more traction than previous walkouts, with a host of organizations and unions vowing to join. Hong Kong has witnessed eight consecutive weekends of huge rallies often followed by violent clashes between police and small groups of hardcore protesters. Under the terms of the 1997 handover deal with Britain, the city has rights and liberties unseen on the Chinese mainland, including an independent judiciary and freedom of speech. But many say those rights are being curtailed, citing the disappearance into mainland custody of dissident booksellers, the disqualification of prominent politicians and the jailing of pro-democracy protest leaders. Public anger has been compounded by rising inequality and the perception that the city's distinct language and culture are being threatened by ever-closer integration with the Chinese mainland. On Saturday evening, protesters tore down the Chinese flag from a pole on the waterfront and threw it in the harbour. Violence escalating The past two weekends have seen a surge in violence used by both protesters and police, who have repeatedly fired rubber bullets and tear gas to disperse projectile-throwing crowds. A mob of pro-government thugs also attacked demonstrators, putting 45 people in hospital. Hong Kong's police have increasingly adopted tougher tactics, including this week charging 44 protesters with rioting an offence that carries up to 10 years in jail. Hong Kong chief executive Carrie Lam has made few concessions beyond agreeing to suspend the extradition bill and shied away from public appearances. Protesters are demanding her resignation, an independent inquiry into police tactics, an amnesty for those arrested, a permanent withdrawal of the bill, and the right to elect their leaders. Thousands of pro-government supporters also held a rally in a separate park on Saturday, many waving Chinese flags and chanting slogans in support of the police who have refuted allegations of using excessive force. Beijing has increasingly pitched the anti-government protests as funded by the West. China has provided little evidence beyond supportive statements from some Western politicians and critics say Beijing's accusations of foreign meddling ignore Hong Kongers' legitimate grievances.

Hong Kong protesters seize roads in defiance of China warnings

China's new U.N. ambassador warned on Friday (August 2) that if the United States wanted to fight China on trade "then we will fight," and signaled that trade tensions could hurt cooperation between the countries on dealing with North Korea. U.S. President Donald Trump vowed on Thursday (August 1) to slap a 10% tariff on $300 billion of Chinese imports from next month, sharply escalating a trade dispute between the world's biggest economies. In unusually blunt remarks for a United Nations' diplomat from China, Zhang Jun described Trump's move as "an irrational, irresponsible act" and urged Washington to "come back to the right track." He also said Beijing was prepared to take countermeasures.

China's new U.N. envoy: Beijing ready to fight U.S. on trade

Possible ways in which China can retaliate to Trump tariffs

Hong Kong civil servants on Friday night kicked off a weekend of anti government protests and unsanctioned rallies in defiance of warnings from China and after a prominent independence campaigner was arrested.

The semi autonomous southern Chinese city has seen two months of unrest triggered by opposition to a planned extradition law that quickly evolved into a wider movement for democratic reforms.

Authorities in Hong Kong and Beijing this week signaled a hardening stance, including with the arrests of dozens of protesters, and the Chinese military indicating it was ready to quell the "intolerable" unrest if asked.

But protesters have remained unyielding, vowing to hold multiple rallies and marches throughout the weekend and into next week, sending tensions soaring once more.

On Friday evening thousands attended a rally organised by members of <a href="https://www.wionews.com/world/hong-kong-protest-turns-violent-chinas-top-policy-unit-to-hold-press-conference-on-monday-239094">Hong Kong's</a> usually tight-lipped civil service, gathering in a park in the city's commercial district and then spilling out into nearby roads.

Many civil servants wore surgical masks to hide their identities after the government warned that employees should show "total loyalty" and could be punished for attending.

"Apart from being a civil servant, I'm also a Hong Konger and I have freedom of assembly," one protester, a civilian working within the police department, told AFP, asking not to be named.&nbsp;

He added that the civil service's political neutrality should not mean "blind support" for the government at all costs.

Unsanctioned marches are also planned for Saturday and Sunday, as well as a city-wide strike on Monday.&nbsp;

Similar illegal marches in the last fortnight have quickly descended into violent clashes with police.

Independence activist arrested

Police said eight people were arrested Thursday night on charges of possessing offensive weapons and explosives following a raid on an industrial building.&nbsp;

They later said they also found one petrol bomb, baseball bats, bows and arrows and iron balls used in slingshots as well as protective clothing.

A senior police source, who asked not to be named, told AFP that independence activist Andy Chan was among those detained.&nbsp;

Chan's small independence party was outlawed last year on the grounds it posed a national security threat, the first such ban since the former British colony returned to Chinese rule in 1997.

Chan's party contained only a few dozen members, but <a href="https://www.wionews.com/world/beijings-new-multi-billion-dollar-starfish-airport-set-to-open-in-september-231977">Beijing</a> sees calls for independence as an absolute red line.

The banning of his party and the expulsion of a Financial Times journalist who chaired a talk with Chan at the city's press club before the party was outlawed were held up as two examples of eroded freedoms in Hong Kong.

Under the terms of the 1997 handover deal, the city has rights and liberties unseen on the mainland, including an independent judiciary and freedom of speech.

But many say those rights are being curtailed, citing the disappearance into mainland custody of dissident booksellers, the disqualification of prominent politicians and the jailing of pro-democracy protest leaders.

A surge in violence

Public anger has been compounded by rising inequality and the perception that the city's distinct language and culture are being threatened by ever-closer integration with the Chinese mainland.

The past two weekends have seen a surge in violence used by both protesters and police, who have repeatedly fired rubber bullets and tear gas to disperse projectile-throwing crowds.&nbsp;

A mob of pro-government thugs also attacked protesters, putting 45 people in the hospital.

Hong Kong's police have increasingly adopted tougher tactics, including by this week charging 44 protesters with rioting an offence that carries up to 10 years in jail.

Hong Kong chief executive Carrie Lam has made few concessions beyond agreeing to suspend the extradition bill, and she has made few public appearances.

Protesters are demanding her resignation, an independent inquiry into police tactics, an amnesty for those arrested, a permanent withdrawal of the bill and the right to elect their leaders.

Hong Kong civil servants on Friday night kicked off a weekend of anti government protests and unsanctioned rallies in defiance of warnings from China and after a prominent independence campaigner was arrested.

Hong Kong civil servants on Friday night kicked off a weekend of anti government protests and unsanctioned rallies in defiance of warnings from China and after a prominent independence campaigner was arrested. The semi autonomous southern Chinese city has seen two months of unrest triggered by opposition to a planned extradition law that quickly evolved into a wider movement for democratic reforms. Authorities in Hong Kong and Beijing this week signaled a hardening stance, including with the arrests of dozens of protesters, and the Chinese military indicating it was ready to quell the "intolerable" unrest if asked. But protesters have remained unyielding, vowing to hold multiple rallies and marches throughout the weekend and into next week, sending tensions soaring once more. On Friday evening thousands attended a rally organised by members of Hong Kong's usually tight-lipped civil service, gathering in a park in the city's commercial district and then spilling out into nearby roads. Many civil servants wore surgical masks to hide their identities after the government warned that employees should show "total loyalty" and could be punished for attending. "Apart from being a civil servant, I'm also a Hong Konger and I have freedom of assembly," one protester, a civilian working within the police department, told AFP, asking not to be named. He added that the civil service's political neutrality should not mean "blind support" for the government at all costs. Unsanctioned marches are also planned for Saturday and Sunday, as well as a city-wide strike on Monday. Similar illegal marches in the last fortnight have quickly descended into violent clashes with police. Independence activist arrested Police said eight people were arrested Thursday night on charges of possessing offensive weapons and explosives following a raid on an industrial building. They later said they also found one petrol bomb, baseball bats, bows and arrows and iron balls used in slingshots as well as protective clothing. A senior police source, who asked not to be named, told AFP that independence activist Andy Chan was among those detained. Chan's small independence party was outlawed last year on the grounds it posed a national security threat, the first such ban since the former British colony returned to Chinese rule in 1997. Chan's party contained only a few dozen members, but Beijing sees calls for independence as an absolute red line. The banning of his party and the expulsion of a Financial Times journalist who chaired a talk with Chan at the city's press club before the party was outlawed were held up as two examples of eroded freedoms in Hong Kong. Under the terms of the 1997 handover deal, the city has rights and liberties unseen on the mainland, including an independent judiciary and freedom of speech. But many say those rights are being curtailed, citing the disappearance into mainland custody of dissident booksellers, the disqualification of prominent politicians and the jailing of pro-democracy protest leaders. A surge in violence Public anger has been compounded by rising inequality and the perception that the city's distinct language and culture are being threatened by ever-closer integration with the Chinese mainland. The past two weekends have seen a surge in violence used by both protesters and police, who have repeatedly fired rubber bullets and tear gas to disperse projectile-throwing crowds. A mob of pro-government thugs also attacked protesters, putting 45 people in the hospital. Hong Kong's police have increasingly adopted tougher tactics, including by this week charging 44 protesters with rioting an offence that carries up to 10 years in jail. Hong Kong chief executive Carrie Lam has made few concessions beyond agreeing to suspend the extradition bill, and she has made few public appearances. Protesters are demanding her resignation, an independent inquiry into police tactics, an amnesty for those arrested, a permanent withdrawal of the bill and the right to elect their leaders.

Hong Kong civil servants defy China with weekend of protest rallies

Pro-democracy protesters in Hong Kong geared up Friday for <a href="https://www.wionews.com/opinions/hong-kong-protests-city-workers-expats-and-unions-join-clamour-making-it-even-harder-for-china-to-ignore-239983">more rallies in defiance of a series of warnings from China</a> and after a prominent independence campaigner was arrested.

The semi-autonomous southern Chinese city has seen two months of unrest that was triggered by opposition to a planned extradition law but quickly evolved into a wider movement for democratic reforms.

Authorities in Hong Kong and Beijing this week signalled a hardening stance, including with the arrests of dozens of protesters, and the Chinese military described the unrest as "intolerable".

But more protests have been scheduled, starting on Friday evening, with members of Hong Kong's usually tight-lipped civil service due to hold a rally despite a government warning that they could be sacked for doing so.&nbsp;

"Any acts to undermine the principle of political neutrality of the civil service are totally unacceptable," the government said late on Thursday.

Medical workers have also called a rally for Friday evening and there are unsanctioned marches planned for Saturday and Sunday, as well as a city-wide strike on Monday.&nbsp;

Previous unsanctioned marches have quickly descended into violent clashes with police.

Independence activist arrested

Deepening tensions, police said eight people were arrested Thursday night on charges of possessing offensive weapons and explosives following a raid on an industrial building.&nbsp;

In an update on Friday, police said they found one petrol bomb and some smoke grenades.

A senior police source, who asked not to be named, told AFP that independence activist Andy Chan was among those detained and that a "gasoline bomb" was found on the premises.&nbsp;

Chan's small independence party was outlawed last year on the grounds it posed a national security threat, the first such ban since the former British colony returned to Chinese rule in 1997.

Chan's party contained only a few dozen members, but Beijing sees calls for independence as an absolute red line.

The banning of his party -- and the expulsion of a Financial Times journalist who chaired a talk with Chan at the city's press club before the party was outlawed -- were held up as two examples of eroded freedoms in Hong Kong.

Under the terms of the 1997 handover deal, the city has rights and liberties unseen on the mainland, including an independent judiciary and freedom of speech.

But many say those rights are being curtailed, citing the disappearance into mainland custody of dissident booksellers, the disqualification of prominent politicians and the jailing of pro-democracy protest leaders.

Surge in violence

Public anger has been compounded by rising inequality and the perception that the city's distinct language and culture are being threatened by ever-closer integration with the Chinese mainland.

The past two weekends have seen a surge in violence used by both protesters and police, who have repeatedly fired rubber bullets and tear gas to disperse projectile-throwing crowds.&nbsp;

A mob of pro-government thugs also attacked protesters, putting 45 people in hospital.

Hong Kong's police have increasingly adopted tougher tactics, including by this week charging 44 protesters with rioting -- an offence that carries up to 10 years in jail.

Hong Kong chief executive Carrie Lam has made few concessions beyond agreeing to suspend the extradition bill, and she has made few public appearances.

Protesters are demanding her resignation, an independent inquiry into police tactics, an amnesty for those arrested, a permanent withdrawal of the bill and the right to elect their leaders.

Pro-democracy protesters in Hong Kong geared up Friday for more rallies in defiance of a series of warnings from China and after a prominent independence campaigner was arrested.

Pro-democracy protesters in Hong Kong geared up Friday for more rallies in defiance of a series of warnings from China and after a prominent independence campaigner was arrested. The semi-autonomous southern Chinese city has seen two months of unrest that was triggered by opposition to a planned extradition law but quickly evolved into a wider movement for democratic reforms. Authorities in Hong Kong and Beijing this week signalled a hardening stance, including with the arrests of dozens of protesters, and the Chinese military described the unrest as "intolerable". But more protests have been scheduled, starting on Friday evening, with members of Hong Kong's usually tight-lipped civil service due to hold a rally despite a government warning that they could be sacked for doing so. "Any acts to undermine the principle of political neutrality of the civil service are totally unacceptable," the government said late on Thursday. Medical workers have also called a rally for Friday evening and there are unsanctioned marches planned for Saturday and Sunday, as well as a city-wide strike on Monday. Previous unsanctioned marches have quickly descended into violent clashes with police. Independence activist arrested Deepening tensions, police said eight people were arrested Thursday night on charges of possessing offensive weapons and explosives following a raid on an industrial building. In an update on Friday, police said they found one petrol bomb and some smoke grenades. A senior police source, who asked not to be named, told AFP that independence activist Andy Chan was among those detained and that a "gasoline bomb" was found on the premises. Chan's small independence party was outlawed last year on the grounds it posed a national security threat, the first such ban since the former British colony returned to Chinese rule in 1997. Chan's party contained only a few dozen members, but Beijing sees calls for independence as an absolute red line. The banning of his party -- and the expulsion of a Financial Times journalist who chaired a talk with Chan at the city's press club before the party was outlawed -- were held up as two examples of eroded freedoms in Hong Kong. Under the terms of the 1997 handover deal, the city has rights and liberties unseen on the mainland, including an independent judiciary and freedom of speech. But many say those rights are being curtailed, citing the disappearance into mainland custody of dissident booksellers, the disqualification of prominent politicians and the jailing of pro-democracy protest leaders. Surge in violence Public anger has been compounded by rising inequality and the perception that the city's distinct language and culture are being threatened by ever-closer integration with the Chinese mainland. The past two weekends have seen a surge in violence used by both protesters and police, who have repeatedly fired rubber bullets and tear gas to disperse projectile-throwing crowds. A mob of pro-government thugs also attacked protesters, putting 45 people in hospital. Hong Kong's police have increasingly adopted tougher tactics, including by this week charging 44 protesters with rioting -- an offence that carries up to 10 years in jail. Hong Kong chief executive Carrie Lam has made few concessions beyond agreeing to suspend the extradition bill, and she has made few public appearances. Protesters are demanding her resignation, an independent inquiry into police tactics, an amnesty for those arrested, a permanent withdrawal of the bill and the right to elect their leaders.

More Hong Kong protests planned despite arrests, Chinese warnings

China's Four-Prolonged Strategy To Curb Hong Kong Protests Dismiss, Distract, Threaten, Discredit - China has been employing this four-pronged approach to tackle the protests in Hong Kong. Beijing first dismissed protests as 'illegal', then tried distraction-tactics. China's representatives have provoked violence. What's more? Now Beijing blames the U.S. Palki summarises

Gravitas: Deciphering China's strategy in Hong Kong

Australia pledged US $55 million to fight human trafficking in Southeast Asia on Thursday, vowing to tackle "modern slavery" ensnaring vulnerable populations across the region, from low-paid workers to underage brides and Rohingya refugees.

The funding is part of a 10-year scheme that includes training for police and judges to probe criminal networks, <a href="https://www.wionews.com/world/us-planning-additional-military-infrastructure-in-australia-foreign-minister-marise-payne-239432">Australia's foreign affairs minister Marise Payne</a> said at an Association of Southeast Asian Nations (ASEAN) meeting in Bangkok.

"The initiative will also support joint international investigations to help rescue victims and ensure traffickers are charged," she said.&nbsp;

Rising demand for cheap labour, especially in the fishing and construction industries, has spurred trafficking networks across Southeast Asia where porous borders allow for the easy movement of people.&nbsp;

China's thirst for brides from the Mekong region has also fuelled an illicit trade of mostly young women, thanks to Beijing's decades-long one-child policy and preference for boys.&nbsp;

"There are many deep-rooted factors that enable transnational crime, from corruption through to the unequal status of children and other vulnerable groups," Payne added.

The persecution of Rohingya Muslims in <a href="https://www.wionews.com/south-asia/myanmar-ngo-worker-shot-in-restive-rakhine-state-239511">Myanmar's restive Rakhine state</a> is also prompting new and dangerous networks to form.

Some 740,000 of the stateless Rohingya fled Myanmar for Bangladesh, following a brutal military crackdown in 2017 but many are leaving the squalid refugee camps in an attempt to reach Malaysia and Indonesia for work, where they are vulnerable to exploitation.

The sophisticated and lucrative trafficking trade in Southeast Asia was exposed in 2015 when Thailand tried to shut down a million-dollar people-smuggling route for Rohingya Muslims from Myanmar.&nbsp;

The route came to light after the discovery of the migrants' mass graves in southern Thailand.&nbsp;

Payne highlighted the Rohingya's plight on Thursday.

"We are also concerned about the situation in Rakhine State. We're committed to working with Myanmar, with Bangladesh, with ASEAN, and other partners towards a long term and durable solution," she said.&nbsp;

John Quinley from Fortify Rights, which documents trafficking cases in the region, called on ASEAN countries to boost cooperation and punish perpetrators.&nbsp;

"Human trafficking is a transnational crime that needs a transnational solution," he said.

In 2016, there were an estimated 25 million people trapped in modern slavery across Asia-Pacific, according to the Global Slavery Index.&nbsp; 
&nbsp;

Australia pledged US $55 million to fight human trafficking in Southeast Asia on Thursday, vowing to tackle "modern slavery" ensnaring vulnerable populations across the region, from low-paid workers to underage brides and Rohingya refugees.

Australia pledged US $55 million to fight human trafficking in Southeast Asia on Thursday, vowing to tackle "modern slavery" ensnaring vulnerable populations across the region, from low-paid workers to underage brides and Rohingya refugees. The funding is part of a 10-year scheme that includes training for police and judges to probe criminal networks, Australia's foreign affairs minister Marise Payne said at an Association of Southeast Asian Nations (ASEAN) meeting in Bangkok. "The initiative will also support joint international investigations to help rescue victims and ensure traffickers are charged," she said. Rising demand for cheap labour, especially in the fishing and construction industries, has spurred trafficking networks across Southeast Asia where porous borders allow for the easy movement of people. China's thirst for brides from the Mekong region has also fuelled an illicit trade of mostly young women, thanks to Beijing's decades-long one-child policy and preference for boys. "There are many deep-rooted factors that enable transnational crime, from corruption through to the unequal status of children and other vulnerable groups," Payne added. The persecution of Rohingya Muslims in Myanmar's restive Rakhine state is also prompting new and dangerous networks to form. Some 740,000 of the stateless Rohingya fled Myanmar for Bangladesh, following a brutal military crackdown in 2017 but many are leaving the squalid refugee camps in an attempt to reach Malaysia and Indonesia for work, where they are vulnerable to exploitation. The sophisticated and lucrative trafficking trade in Southeast Asia was exposed in 2015 when Thailand tried to shut down a million-dollar people-smuggling route for Rohingya Muslims from Myanmar. The route came to light after the discovery of the migrants' mass graves in southern Thailand. Payne highlighted the Rohingya's plight on Thursday. "We are also concerned about the situation in Rakhine State. We're committed to working with Myanmar, with Bangladesh, with ASEAN, and other partners towards a long term and durable solution," she said. John Quinley from Fortify Rights, which documents trafficking cases in the region, called on ASEAN countries to boost cooperation and punish perpetrators. "Human trafficking is a transnational crime that needs a transnational solution," he said. In 2016, there were an estimated 25 million people trapped in modern slavery across Asia-Pacific, according to the Global Slavery Index.

Australia pledges US $55 million to fight human trafficking in Southeast Asia

Asian countries turning back wealthy world's waste

<a href="https://www.wionews.com/business-&amp;-economy/gold-prices-rise-to-one-week-high-as-softer-us-dollar-supports-buying-148880">Gold prices</a> held steady on Wednesday as investors waited on the outcome of the Federal Reserve`s meeting later in the day when policymakers are expected to cut interest rates for the first time since the financial crisis.

Spot gold was flat at $1,430.69 per ounce as of 0723 GMT.

US gold futures edged 0.1 per cent higher to $1,443.60 an ounce. "Most of the people are staying on the sidelines due to the Fed meeting. If the Fed does reduce rates, gold may come down a little as a 25 basis point cut is already priced-in," said Brian Lan, managing director at dealer GoldSilver Central in Singapore.

"We are also looking at whether there will be further rate cuts. Over the longer term, we are still bullish on gold but in the short-term, we might see a bit of correction before it continues to move higher," Lan added.

Fed funds rate futures are now fully pricing in a 25 basis point rate cut on Wednesday and another 25 basis point reduction by September.

Markets will be watching out for guidance on whether the Federal Open Market Committee`s expected move is a one-time cut or the beginning of a rate-cutting cycle.

Cementing expectations of Fed rate cuts, US consumer spending and prices rose moderately in June, pointing to slower economic growth and benign inflation.

<a href="https://www.wionews.com/world/donald-trump-tears-into-china-on-twitter-as-trade-talks-resume-239492">US President Donald Trump</a>, meanwhile, reiterated his call for the Fed to make a large interest rate cut, saying he was disappointed in the US&nbsp;

The central bank and that it had put him at a disadvantage by not acting sooner.

"Gold will look for direction in the tone of the Fed Chief`s rhetoric. More dovish could lead to a weaker dollar and a higher price for gold," <a href="https://www.wionews.com/business-economy/crude-oil-prices-fall-1-on-fears-for-global-economy-233148">Alfonso Esparza</a>, a senior market analyst at OANDA, said in a note.

The dollar index was relatively unchanged against a basket of major currencies on Wednesday after hitting a two-month high in the previous session.

In financial markets, fresh trade concerns following threats by Trump to Beijing sent Asian shares to a six-week trough on Wednesday.&nbsp;

Trump warned China against waiting out his presidency before finalising a trade deal, saying if he wins re-election in November 2020, the outcome could be no agreement or a harsher one.

On the technical front, Reuters technical analyst Wang Tao said a bullish target at $1,452 per ounce has been established for spot gold, as it has pierced above resistance at $1,427.

Among other precious metals, silver slipped 0.7 per cent to $16.46 per ounce.

Platinum jumped 1.2 per cent to $876.11 an ounce and palladium rose 1 per cent to $1,529.20.

Gold prices held steady on Wednesday as investors waited on the outcome of the Federal Reserve`s meeting later in the day when policymakers are expected to cut interest rates for the first time since the financial crisis.

Gold prices held steady on Wednesday as investors waited on the outcome of the Federal Reserve`s meeting later in the day when policymakers are expected to cut interest rates for the first time since the financial crisis. Spot gold was flat at $1,430.69 per ounce as of 0723 GMT. US gold futures edged 0.1 per cent higher to $1,443.60 an ounce. "Most of the people are staying on the sidelines due to the Fed meeting. If the Fed does reduce rates, gold may come down a little as a 25 basis point cut is already priced-in," said Brian Lan, managing director at dealer GoldSilver Central in Singapore. "We are also looking at whether there will be further rate cuts. Over the longer term, we are still bullish on gold but in the short-term, we might see a bit of correction before it continues to move higher," Lan added. Fed funds rate futures are now fully pricing in a 25 basis point rate cut on Wednesday and another 25 basis point reduction by September. Markets will be watching out for guidance on whether the Federal Open Market Committee`s expected move is a one-time cut or the beginning of a rate-cutting cycle. Cementing expectations of Fed rate cuts, US consumer spending and prices rose moderately in June, pointing to slower economic growth and benign inflation. US President Donald Trump, meanwhile, reiterated his call for the Fed to make a large interest rate cut, saying he was disappointed in the US The central bank and that it had put him at a disadvantage by not acting sooner. "Gold will look for direction in the tone of the Fed Chief`s rhetoric. More dovish could lead to a weaker dollar and a higher price for gold," Alfonso Esparza, a senior market analyst at OANDA, said in a note. The dollar index was relatively unchanged against a basket of major currencies on Wednesday after hitting a two-month high in the previous session. In financial markets, fresh trade concerns following threats by Trump to Beijing sent Asian shares to a six-week trough on Wednesday. Trump warned China against waiting out his presidency before finalising a trade deal, saying if he wins re-election in November 2020, the outcome could be no agreement or a harsher one. On the technical front, Reuters technical analyst Wang Tao said a bullish target at $1,452 per ounce has been established for spot gold, as it has pierced above resistance at $1,427. Among other precious metals, silver slipped 0.7 per cent to $16.46 per ounce. Platinum jumped 1.2 per cent to $876.11 an ounce and palladium rose 1 per cent to $1,529.20.

Gold prices hold steady ahead of Fed verdict

Questions surrounding one of China's biggest accounting firms, the subject of a regulatory probe, have led to a derailing of the fundraising plans of nearly 50 Chinese companies.

The firm is Ruihua Certified Public Accounts, which the Chinese Institute of Certified Public Accounts said was the second-largest domestic auditor by revenue in 2018.

Regulators have suspended the approvals for initial public offerings (IPOs) by 28 companies that have Ruihua as their accountant.

Also, officials have halted the process of permitting 21 other companies who planned to refinance in the market. In the past month, at least four other companies have said they were dropping Ruihua as their auditor. The most recent, in a filing to the Shanghai Stock Exchange late Monday, is solar panel producer Longi Green Energy Technology.

Ruihua, which says on its website that it has more than 300 listed companies as clients, did not respond to requests for comment on Tuesday.

On July 8, the China Securities Regulatory Commission (CSRC) said it had launched a probe into Ruihua. In May, the firm's audit client Kangde Xin Composite Material Group Co. stunned investors by reporting missing bank deposits worth 12.21 billion yuan ($1.77 billion).

Earlier this month, the CSRC said it found Kangde Xin executives had inflated profits by 11.9 billion yuan between 2015 and 2018 and did not fully disclose dealings by related parties.

Ruihua has audited Kangde Xin since 2013. In a statement on its website on Sunday, Ruihua said it had been diligent in its work for Kangde Xin and had found nothing abnormal at the company.

Harsher Punishment

CSRC's probe comes at a time growing numbers of investors have called for tougher action against corporate malfeasance.

On Friday, the CSRC vowed to boost jail terms and fines for executives, controlling shareholders, auditors and sponsors who break disclosure rules.

Allen Huang, a bond investor, said "We certainly welcome harsher punishment," adding that "the cost of cheating China is too low."

The crackdown also comes as Beijing is dealing with a slowing economy and trade conflict with Washington - increasing politicians' focus on boosting domestic performance.

Xin Chen, a finance professor at Shanghai Advanced Institute of Finance, said that restoring investor faith was key to building an efficient capital market that could help fund high-tech companies and aid China in its jockeying with the United States.

"If auditors are found to be accomplices in corporate fraud cases, they should go bust," he said.

Questions surrounding one of China's biggest accounting firms, the subject of a regulatory probe, have led to a derailing of the fundraising plans of nearly 50 Chinese companies.

Questions surrounding one of China's biggest accounting firms, the subject of a regulatory probe, have led to a derailing of the fundraising plans of nearly 50 Chinese companies. The firm is Ruihua Certified Public Accounts, which the Chinese Institute of Certified Public Accounts said was the second-largest domestic auditor by revenue in 2018. Regulators have suspended the approvals for initial public offerings (IPOs) by 28 companies that have Ruihua as their accountant. Also, officials have halted the process of permitting 21 other companies who planned to refinance in the market. In the past month, at least four other companies have said they were dropping Ruihua as their auditor. The most recent, in a filing to the Shanghai Stock Exchange late Monday, is solar panel producer Longi Green Energy Technology. Ruihua, which says on its website that it has more than 300 listed companies as clients, did not respond to requests for comment on Tuesday. On July 8, the China Securities Regulatory Commission (CSRC) said it had launched a probe into Ruihua. In May, the firm's audit client Kangde Xin Composite Material Group Co. stunned investors by reporting missing bank deposits worth 12.21 billion yuan ($1.77 billion). Earlier this month, the CSRC said it found Kangde Xin executives had inflated profits by 11.9 billion yuan between 2015 and 2018 and did not fully disclose dealings by related parties. Ruihua has audited Kangde Xin since 2013. In a statement on its website on Sunday, Ruihua said it had been diligent in its work for Kangde Xin and had found nothing abnormal at the company. Harsher Punishment CSRC's probe comes at a time growing numbers of investors have called for tougher action against corporate malfeasance. On Friday, the CSRC vowed to boost jail terms and fines for executives, controlling shareholders, auditors and sponsors who break disclosure rules. Allen Huang, a bond investor, said "We certainly welcome harsher punishment," adding that "the cost of cheating China is too low." The crackdown also comes as Beijing is dealing with a slowing economy and trade conflict with Washington - increasing politicians' focus on boosting domestic performance. Xin Chen, a finance professor at Shanghai Advanced Institute of Finance, said that restoring investor faith was key to building an efficient capital market that could help fund high-tech companies and aid China in its jockeying with the United States. "If auditors are found to be accomplices in corporate fraud cases, they should go bust," he said.

'The cost of cheating China is too low': Bond Investor

US negotiators arrived in Shanghai on Tuesday to resurrect trade talks with Chinese officials, with both sides downplaying expectations of an imminent deal between the world's two biggest economies.

The negotiations in the financial hub will be the first face-to-face discussions since <a href="https://www.wionews.com/world/donald-trump-defends-attack-on-african-american-us-lawmaker-elijah-cummings-239036">US President Donald Trump</a> agreed to a truce with <a href="https://www.wionews.com/world/xi-jinping-first-chinese-leader-to-visit-north-korea-in-14-years-to-meet-kim-ahead-of-trump-talks-228866">Chinese President Xi Jinping</a> at June's G20 summit after previous talks broke down over the US accusations that China reneged on its commitments.

Washington and Beijing have so far hit each other with punitive tariffs covering more than $360 billion in two-way trade, in a tense stand-off centred on demands for China to curb the alleged theft of American technology and provide a level playing field to US companies.

<a href="https://www.wionews.com/world/us-trade-negotiators-will-travel-to-china-in-very-near-future-official-235396">US Trade Representative Robert Lighthizer </a>and Treasury Secretary Steven Mnuchin arrived in Shanghai on Tuesday, a source close to the talks told AFP.

Vice Premier Liu He will likely lead the talks for China again, with the two sides expected to meet later Tuesday ahead of a full day of talks on Wednesday.

The negotiations come as Beijing faces heavy pressure over ongoing civil unrest in <a href="https://www.wionews.com/world/hong-kong-police-retake-parliament-from-anti-government-protesters-232153">Hong Kong</a>, and with lingering ill-feeling between the US and China.

Days before the Shanghai meeting, Trump threatened to pull recognition of China's developing nation status at the World Trade Organization prompting an irritable reply from Beijing about the "arrogance and selfishness" of the US.

Trump said Friday he believed Chinese negotiators were hoping to delay a deal until after the US presidential election next year, adding: "When I win... they're all going to sign deals."

The US leader has also angered the Chinese side by claiming the slowing economy is forcing them to make a trade deal, and blacklisting telecom giant Huawei over national security concerns.

In a commentary on Tuesday, state news agency Xinhua admitted relations were "strained" and called for the US to "treat China with due respect if it wants a trade deal".

New city

But the kick-starting of trade negotiations are still being seen as positive even if little of substance is expected following a truce agreed between Trump and Chinese President Xi Jinping at the G20 in June.

"Realistically, this round of talks is about clarifying where the two sides stand after a significant lull in engagement," said Jake Parker, senior vice president at the US-China Business Council.&nbsp;

"There also needs to be a focus on rebuilding the trust that was present in April but has since dissipated."

Holding talks in Shanghai is also a nod to a time of better relations, as the city was the home of the 1972 Shanghai Communique -- an important step in building diplomatic relations between the US and China.

Chinese Commerce Minister Zhong Shan, who is seen as a tough negotiator, is expected to join Liu on the Chinese side.

"Minister Zhong Shan, like Liu He, is a 19th Party Congress Central Committee member, so his involvement would indicate an elevation of participation on the Chinese side," said Parker.

"His appointment could offer another senior voice... on the Chinese side."

'Lot of issues'&nbsp;

But both sides were busy lowering expectations in the run-up to talks.&nbsp;

Mnuchin told CNBC last week there were still "a lot of issues" while Chinese state-run daily The Global Times wrote that it is "widely believed that trade talks will take a long time".

There was no sign of the rhetoric letting up either, with the China Daily newspaper's Tuesday editorial saying "the US should give its go-to tactic of maximum pressure a couple of days off as it has proven ineffective against China".

It pointed to an announcement at the weekend that China would buy more US agricultural products including pork, cotton, and soybean as a sign of China's "goodwill" and called for the US to "reciprocate if it wants any progress to be made".

There are likely to be "modest soft-pedalled concessions", said Stephen Innes, managing partner at Vanguard Markets Singapore, such as a pause of further tariff increases on Chinese exports to the US.

"Following another month of escalating tensions, agreement on practically anything will be a positive," said Innes.

US negotiators arrived in Shanghai on Tuesday to resurrect trade talks with Chinese officials, with both sides downplaying expectations of an imminent deal between the world's two biggest economies.

US negotiators arrived in Shanghai on Tuesday to resurrect trade talks with Chinese officials, with both sides downplaying expectations of an imminent deal between the world's two biggest economies. The negotiations in the financial hub will be the first face-to-face discussions since US President Donald Trump agreed to a truce with Chinese President Xi Jinping at June's G20 summit after previous talks broke down over the US accusations that China reneged on its commitments. Washington and Beijing have so far hit each other with punitive tariffs covering more than $360 billion in two-way trade, in a tense stand-off centred on demands for China to curb the alleged theft of American technology and provide a level playing field to US companies. US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin arrived in Shanghai on Tuesday, a source close to the talks told AFP. Vice Premier Liu He will likely lead the talks for China again, with the two sides expected to meet later Tuesday ahead of a full day of talks on Wednesday. The negotiations come as Beijing faces heavy pressure over ongoing civil unrest in Hong Kong, and with lingering ill-feeling between the US and China. Days before the Shanghai meeting, Trump threatened to pull recognition of China's developing nation status at the World Trade Organization prompting an irritable reply from Beijing about the "arrogance and selfishness" of the US. Trump said Friday he believed Chinese negotiators were hoping to delay a deal until after the US presidential election next year, adding: "When I win... they're all going to sign deals." The US leader has also angered the Chinese side by claiming the slowing economy is forcing them to make a trade deal, and blacklisting telecom giant Huawei over national security concerns. In a commentary on Tuesday, state news agency Xinhua admitted relations were "strained" and called for the US to "treat China with due respect if it wants a trade deal". New city But the kick-starting of trade negotiations are still being seen as positive even if little of substance is expected following a truce agreed between Trump and Chinese President Xi Jinping at the G20 in June. "Realistically, this round of talks is about clarifying where the two sides stand after a significant lull in engagement," said Jake Parker, senior vice president at the US-China Business Council. "There also needs to be a focus on rebuilding the trust that was present in April but has since dissipated." Holding talks in Shanghai is also a nod to a time of better relations, as the city was the home of the 1972 Shanghai Communique -- an important step in building diplomatic relations between the US and China. Chinese Commerce Minister Zhong Shan, who is seen as a tough negotiator, is expected to join Liu on the Chinese side. "Minister Zhong Shan, like Liu He, is a 19th Party Congress Central Committee member, so his involvement would indicate an elevation of participation on the Chinese side," said Parker. "His appointment could offer another senior voice... on the Chinese side." 'Lot of issues' But both sides were busy lowering expectations in the run-up to talks. Mnuchin told CNBC last week there were still "a lot of issues" while Chinese state-run daily The Global Times wrote that it is "widely believed that trade talks will take a long time". There was no sign of the rhetoric letting up either, with the China Daily newspaper's Tuesday editorial saying "the US should give its go-to tactic of maximum pressure a couple of days off as it has proven ineffective against China". It pointed to an announcement at the weekend that China would buy more US agricultural products including pork, cotton, and soybean as a sign of China's "goodwill" and called for the US to "reciprocate if it wants any progress to be made". There are likely to be "modest soft-pedalled concessions", said Stephen Innes, managing partner at Vanguard Markets Singapore, such as a pause of further tariff increases on Chinese exports to the US. "Following another month of escalating tensions, agreement on practically anything will be a positive," said Innes.

China-US trade talks to restart after G20 tariff truce

A road cable-stayed bridge with the world's largest and heaviest span on Tuesday completed its closure after being rotated into position in Baoding City, north China's Hebei Province, further facilitating the transport construction in Beijing-Tianjin-Hebei Region. The bridge, designed with two towers and of prestressed concrete, is to have eight lanes on its 39.7-meter wide deck. With the main bridge being 495 meters long and its span 240 meters, the bridge's total weight being rotated is 81,000 tons.

World’s heaviest cable-stayed bridge rotates into position

Understanding China's Stance In Hong Kong Even As Protests Escalate On #WionEdit, Palki explains China's stance in Hong Kong and details why Beijing has not involved itself directly so far. China's stance has strong economic as well as political ramifications.

WION Edit: Why is China adopting a cautious stance on Hong Kong?

China has condemned the recent anti-government protests in Hong Kong and has said that it is Hong Kong's priority to punish violence.

Hong Kong protests: China blames media for spreading panic

A Chinese private company successfully launched its carrier rocket "Hyperbola-1" for the first time from the Jiuquan Satellite Launch Center in <a href="https://www.wionews.com/opinions/mass-protests-protect-hong-kongs-legal-autonomy-from-china-for-now-228567">north China</a> at 13:00 on Thursday, sending a balloon satellite and a BP-1B satellite into the pre-selected orbit.

The carrier rocket Hyperbola-1, the first orbital launch vehicle independently designed by Beijing Interstellar Glory Space Technology Corporation, is a four-stage small solid launch vehicle sent with the vertical thermal emission method.

The rocket's maximum diameter is 1.4 meters, its total length is about 20.8 meters and the liftoff weight is about 31 tons. At an altitude of 500 kilometres in the sun-synchronous orbit, its carrying capacity is about 260 kilograms.

The launched balloon satellite and the BP-1B satellite were developed by China Aerospace Science and Industry Corporation and Beijing Institute of Technology, respectively, and will conduct a series of technical verification after entering the orbit.

The launch was the first flight of this kind of rocket and the third commercial rocket launch mission organized by Jiuquan Satellite Launch Center.

A Chinese private company successfully launched its carrier rocket "Hyperbola-1" for the first time from the Jiuquan Satellite Launch Center in north China at 13:00 on Thursday, sending a balloon satellite and a BP-1B satellite into the pre-selected orbit.

A Chinese private company successfully launched its carrier rocket "Hyperbola-1" for the first time from the Jiuquan Satellite Launch Center in north China at 13:00 on Thursday, sending a balloon satellite and a BP-1B satellite into the pre-selected orbit. The carrier rocket Hyperbola-1, the first orbital launch vehicle independently designed by Beijing Interstellar Glory Space Technology Corporation, is a four-stage small solid launch vehicle sent with the vertical thermal emission method. The rocket's maximum diameter is 1.4 meters, its total length is about 20.8 meters and the liftoff weight is about 31 tons. At an altitude of 500 kilometres in the sun-synchronous orbit, its carrying capacity is about 260 kilograms. The launched balloon satellite and the BP-1B satellite were developed by China Aerospace Science and Industry Corporation and Beijing Institute of Technology, respectively, and will conduct a series of technical verification after entering the orbit. The launch was the first flight of this kind of rocket and the third commercial rocket launch mission organized by Jiuquan Satellite Launch Center.

China successfully launches private commercial carrier rocket

<a href="https://www.wionews.com/opinions/russia-in-africa-can-it-offer-an-alternative-to-the-us-and-china-223760">US and Chinese officials</a> will hold two days of talks in Shanghai next week to try to make progress on their year-long trade dispute, US Treasury Secretary Steven Mnuchin said Wednesday.

It will be the first face-to-face meeting since talks collapsed in May after <a href="https://www.wionews.com/world/donald-trump-attacks-robert-mueller-ahead-of-testimony-on-russia-probe-237817">President Donald Trump</a> accused Beijing of reneging on its commitments.

Mnuchin said he and US Trade Representative Robert Lighthizer will lead the US delegation.

Mnuchin said on CNBC he hopes to make progress but added there are "a lot of issues" pending so he expects another round of talks would follow in Washington.

Senior officials have spoken by phone twice in the last two weeks in the bid to jump-start the negotiations.

At a meeting in Japan last month, US President Donald Trump and his Chinese counterpart Xi Jinping agreed to cease further hostilities in the year-long trade war while the two sides worked to revive negotiations.

The countries have imposed tariffs on $360 billion in two-way trade and Trump has threatened even more punishing duties on Chinese goods.

Mnuchin implied that the national security concerns that have led Washington to impose tough sanctions on Chinese telecom giant Huawei are on a separate track from the trade talks.

But he downplayed concerns about links between Google and Beijing.

"We're not aware of Google working with the Chinese government in a way that raises concerns," Mnuchin said.

"They assured us that there is very, very limited work. The only work they're doing is some minimal open source work."

Trump last week said he wants his administration to "take a look" into whether Google has been working with the Chinese government an allegation swiftly denied by the US internet giant.

US and Chinese officials will hold two days of talks in Shanghai next week to try to make progress on their year-long trade dispute, US Treasury Secretary Steven Mnuchin said Wednesday.

US and Chinese officials will hold two days of talks in Shanghai next week to try to make progress on their year-long trade dispute, US Treasury Secretary Steven Mnuchin said Wednesday. It will be the first face-to-face meeting since talks collapsed in May after President Donald Trump accused Beijing of reneging on its commitments. Mnuchin said he and US Trade Representative Robert Lighthizer will lead the US delegation. Mnuchin said on CNBC he hopes to make progress but added there are "a lot of issues" pending so he expects another round of talks would follow in Washington. Senior officials have spoken by phone twice in the last two weeks in the bid to jump-start the negotiations. At a meeting in Japan last month, US President Donald Trump and his Chinese counterpart Xi Jinping agreed to cease further hostilities in the year-long trade war while the two sides worked to revive negotiations. The countries have imposed tariffs on $360 billion in two-way trade and Trump has threatened even more punishing duties on Chinese goods. Mnuchin implied that the national security concerns that have led Washington to impose tough sanctions on Chinese telecom giant Huawei are on a separate track from the trade talks. But he downplayed concerns about links between Google and Beijing. "We're not aware of Google working with the Chinese government in a way that raises concerns," Mnuchin said. "They assured us that there is very, very limited work. The only work they're doing is some minimal open source work." Trump last week said he wants his administration to "take a look" into whether Google has been working with the Chinese government an allegation swiftly denied by the US internet giant.

US, China to hold two days of talks in Shanghai next week: Steven Mnuchin

India, in its attempt to strike a rapport with China, should not renege on her time-honoured stand on Dalai Lama.&nbsp;

Earlier, the NDA government had issued a note to senior officials, asking them not to attend events organised by the Tibetan government-in-exile. India has also supported the ‘One China’ policy, which states that Taiwan and Tibet are part of China’s mainland. Beijing made the ‘One-China’ policy a prerequisite for countries to establish diplomatic ties with it.

Chinese authorities have warned that Dalai Lama’s successor has to be decided within China and any ‘interference’ by India will impact bilateral ties. The Tibetan spiritual leader has taken China to task for raking up the issue of his successor, asserting that the subject would be decided by the people of Tibet.&nbsp;

By tagging its sensitivities on Dalai Lama as a perquisite for settlement of the border dispute with India, China runs the risk of overusing its Tibet card, which India must not lose sight of.

Though Nehru’s unwillingness to condemn China’s invasion of Tibet and the expulsion of Dalai Lama in the 1950s was a mistake, his decision to give refuge to the spiritual guru and the ruler of Tibetan Buddhists, in India in March 1959, cannot be faulted. &nbsp;

In the aftermath of the Chinese invasion of Tibet in 1950, Nehru and his military advisors thought the Chinese takeover of Tibet could neither be resisted by India nor any other external power. India signed an agreement with China on Tibet in 1954, renouncing its inherited prerogatives and recognising Tibet as a ‘region of China’. The forfeiture of India’s rights in Tibet happened without China being made to recognise the Indian-claimed boundary.&nbsp;

Again, it was Atal Bihari Vajpayee in June 2003, who ceded Tibet to be ‘part of Chinese territory’ while trying to bargain Chinese recognition of Sikkim in exchange for Tibet.

The Uighurs have been condemned to a fate similar to the Tibetans, fighting Chinese domination for centuries, enjoying brief periods of independence twice during the twentieth century, facing threats from Han Chinese migration alongside rigours of “centrally” planned development policies besides being subject to newly- strengthened anti-terror measures.&nbsp;

All of this cannot be, and is not Western propaganda. Nehru signed the agreement in 1954, knowing fully well that Tibetans would be disappointed. In 1959, following a crackdown on an uprising by the local population in Tibet, the 14th Dalai Lama, Tenzin Gyatso, fled to India. Therefore, 2019 is the 60th year of the great event — incidentally when the Modi government’s policy of standing up to China is touted to be a sharp departure from Nehru’s China policy.&nbsp;

India, overly careful in assuaging Chinese sensitivities, must not concede further. If the fear to offend Beijing becomes an obsession, or India is seen to be too much in awe of China as has been the case for decades, it might be unfairly treated at international fora like the Organisation for Islamic Countries (OIC) that remains critical of India, but is wary of offending China.&nbsp;

With the succession issue of the Dalai Lama assuming importance, India would have to take a firm decision. The US Congress has made it clear that it would not recognise a Dalai Lama chosen by the Chinese government, nor does the current Dalai Lama believe anyone to trust the Chinese government’s choice.&nbsp;

The point is this: has India, which has seen Tibet as part of China for over five decades, made more concessions than it has received? No Indian government has ever sought to extend political support to the Dalai Lama, despite the tortuous contours of Sino-Indian relationship.&nbsp;

If China links Tibet and Dalai Lama to a settlement of the long-standing border dispute, it amounts to distrust of India’s position.&nbsp;

The succession of Dalai Lama is distinctly different from China’s claims to Tibet. If India lends support to a future Dalai Lama chosen by China, it would not only fritter away its time-honoured policy on Tibet, but the mistake of 1954 would also turn a full circle. &nbsp;

(This article was originally published on The DNA. Read the original article)

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)&nbsp;

India, in its attempt to strike a rapport with China, should not renege on her time-honoured stand on Dalai Lama. Earlier, the NDA government had issued a note to senior officials, asking them not to attend events organised by the Tibetan government-in-exile.

India, in its attempt to strike a rapport with China, should not renege on her time-honoured stand on Dalai Lama. Earlier, the NDA government had issued a note to senior officials, asking them not to attend events organised by the Tibetan government-in-exile. India has also supported the ‘One China’ policy, which states that Taiwan and Tibet are part of China’s mainland. Beijing made the ‘One-China’ policy a prerequisite for countries to establish diplomatic ties with it. Chinese authorities have warned that Dalai Lama’s successor has to be decided within China and any ‘interference’ by India will impact bilateral ties. The Tibetan spiritual leader has taken China to task for raking up the issue of his successor, asserting that the subject would be decided by the people of Tibet. By tagging its sensitivities on Dalai Lama as a perquisite for settlement of the border dispute with India, China runs the risk of overusing its Tibet card, which India must not lose sight of. Though Nehru’s unwillingness to condemn China’s invasion of Tibet and the expulsion of Dalai Lama in the 1950s was a mistake, his decision to give refuge to the spiritual guru and the ruler of Tibetan Buddhists, in India in March 1959, cannot be faulted. In the aftermath of the Chinese invasion of Tibet in 1950, Nehru and his military advisors thought the Chinese takeover of Tibet could neither be resisted by India nor any other external power. India signed an agreement with China on Tibet in 1954, renouncing its inherited prerogatives and recognising Tibet as a ‘region of China’. The forfeiture of India’s rights in Tibet happened without China being made to recognise the Indian-claimed boundary. Again, it was Atal Bihari Vajpayee in June 2003, who ceded Tibet to be ‘part of Chinese territory’ while trying to bargain Chinese recognition of Sikkim in exchange for Tibet. The Uighurs have been condemned to a fate similar to the Tibetans, fighting Chinese domination for centuries, enjoying brief periods of independence twice during the twentieth century, facing threats from Han Chinese migration alongside rigours of “centrally” planned development policies besides being subject to newly- strengthened anti-terror measures. All of this cannot be, and is not Western propaganda. Nehru signed the agreement in 1954, knowing fully well that Tibetans would be disappointed. In 1959, following a crackdown on an uprising by the local population in Tibet, the 14th Dalai Lama, Tenzin Gyatso, fled to India. Therefore, 2019 is the 60th year of the great event — incidentally when the Modi government’s policy of standing up to China is touted to be a sharp departure from Nehru’s China policy. India, overly careful in assuaging Chinese sensitivities, must not concede further. If the fear to offend Beijing becomes an obsession, or India is seen to be too much in awe of China as has been the case for decades, it might be unfairly treated at international fora like the Organisation for Islamic Countries (OIC) that remains critical of India, but is wary of offending China. With the succession issue of the Dalai Lama assuming importance, India would have to take a firm decision. The US Congress has made it clear that it would not recognise a Dalai Lama chosen by the Chinese government, nor does the current Dalai Lama believe anyone to trust the Chinese government’s choice. The point is this: has India, which has seen Tibet as part of China for over five decades, made more concessions than it has received? No Indian government has ever sought to extend political support to the Dalai Lama, despite the tortuous contours of Sino-Indian relationship. If China links Tibet and Dalai Lama to a settlement of the long-standing border dispute, it amounts to distrust of India’s position. The succession of Dalai Lama is distinctly different from China’s claims to Tibet. If India lends support to a future Dalai Lama chosen by China, it would not only fritter away its time-honoured policy on Tibet, but the mistake of 1954 would also turn a full circle. (This article was originally published on The DNA. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)

India has to stand up to China on Dalai Lama’s succession

Shares on Shanghai's new Nasdaq-style technology board soared Monday, with one firm rocketing more than 500 per cent, as investors rushed to grab a piece of China's latest market liberalisation in a frenzied debut.

All 25 components on the Shanghai Stock Exchange's Sci-Tech Innovation Board, or STAR Market, were driven sharply higher in a hearty initial endorsement of China's plan to use the board to help fund fast-growing tech firms and discourage them listing abroad.

Anji Technology, a solar energy battery manufacturer, closed morning trade up 415.44 per cent at 202 yuan after earlier soaring as high as 520 per cent.

The board's biggest component, China Railway Signal &amp; Communication, rose 125.64 per cent to 13.20 yuan on market-leading turnover of 7.6 billion yuan ($1.1 billion).

The introduction of the board, for which listing and trading rules have been dramatically eased, represents one of China's most significant financial market reforms yet and a potential weapon in its growing tech rivalry with the United States.

The tech board is yet to draw any household names.

But China hopes it will eventually include listings from among the country's rich stable of tech "unicorns" start-ups valued at a minimum $1 billion which include Alibaba-linked mobile-payments pioneer Ant Financial, ride-sharing giant Didi Chuxing, and online-services platform Meituan-Dianping.

China's government envisions the board being mentioned in the same breath someday as the tech-heavy Nasdaq, encouraging firms to list at home after the likes of Alibaba and Baidu chose Wall Street.

That will take time the Nasdaq has more than 3,000 companies listed and is one of the world's biggest exchanges.

"I think the science and technology board will develop into a major and important sector in China's capital markets, but it will take a long time, maybe 10 years, 20 years, or even longer," said Jiang Liangqing, a fund manager at Ruisen Capital Management.

Leap of faith

It is a leap of faith for China's volatility-averse authorities, as its stocks have been given relatively free rein.

For the first time, Chinese companies can list without a track record of past profits or restrictions on IPO pricing.

There will be no limits on price movements for the first five days of trading, after which a daily 20 per cent band is imposed.

China's two main exchanges in Shanghai and Shenzhen are subject to a 10 per cent band to contain volatility.

With attention on the new exchange, those markets languished Monday. Shanghai's main index was 0.57 per cent lower at midday while Shenzhen's was down 0.87 per cent.&nbsp;

The tech board was announced in November by President Xi Jinping as a battle with the United States for technological supremacy heated up.

Xi has called on China's tech leaders to become global champions, while the US has fought back in part by taking steps to clip the wings of Chinese telecom giant Huawei.

When big tech companies list overseas, the government in Beijing loses influence over their fundraising and Chinese investors cannot share in those companies' success due to restrictions on purchasing overseas-listed shares.

China realised it needed to loosen up.

"If China didn’t launch this new tech board now, it would miss the chance to transform its economic development into this 'new economy' mode," said Yang Delong, chief economist at First Seafront Fund.

But there are concerns that the new board could siphon liquidity from China's main markets, already pressured by slowing economic growth and the US trade war.

As a result, analysts believe regulators will take a measured pace in growing the tech board.

"The (main) markets are in a downturn now and if giant companies list on the tech board initially, market capital will be diverted. The market cannot bear that," said Yang.

"The new board won't drain too much from the main boards."

Shares on Shanghai's new Nasdaq-style technology board soared Monday, with one firm rocketing more than 500 per cent, as investors rushed to grab a piece of China's latest market liberalisation in a frenzied debut.

Shares on Shanghai's new Nasdaq-style technology board soared Monday, with one firm rocketing more than 500 per cent, as investors rushed to grab a piece of China's latest market liberalisation in a frenzied debut. All 25 components on the Shanghai Stock Exchange's Sci-Tech Innovation Board, or STAR Market, were driven sharply higher in a hearty initial endorsement of China's plan to use the board to help fund fast-growing tech firms and discourage them listing abroad. Anji Technology, a solar energy battery manufacturer, closed morning trade up 415.44 per cent at 202 yuan after earlier soaring as high as 520 per cent. The board's biggest component, China Railway Signal & Communication, rose 125.64 per cent to 13.20 yuan on market-leading turnover of 7.6 billion yuan ($1.1 billion). The introduction of the board, for which listing and trading rules have been dramatically eased, represents one of China's most significant financial market reforms yet and a potential weapon in its growing tech rivalry with the United States. The tech board is yet to draw any household names. But China hopes it will eventually include listings from among the country's rich stable of tech "unicorns" start-ups valued at a minimum $1 billion which include Alibaba-linked mobile-payments pioneer Ant Financial, ride-sharing giant Didi Chuxing, and online-services platform Meituan-Dianping. China's government envisions the board being mentioned in the same breath someday as the tech-heavy Nasdaq, encouraging firms to list at home after the likes of Alibaba and Baidu chose Wall Street. That will take time the Nasdaq has more than 3,000 companies listed and is one of the world's biggest exchanges. "I think the science and technology board will develop into a major and important sector in China's capital markets, but it will take a long time, maybe 10 years, 20 years, or even longer," said Jiang Liangqing, a fund manager at Ruisen Capital Management. Leap of faith It is a leap of faith for China's volatility-averse authorities, as its stocks have been given relatively free rein. For the first time, Chinese companies can list without a track record of past profits or restrictions on IPO pricing. There will be no limits on price movements for the first five days of trading, after which a daily 20 per cent band is imposed. China's two main exchanges in Shanghai and Shenzhen are subject to a 10 per cent band to contain volatility. With attention on the new exchange, those markets languished Monday. Shanghai's main index was 0.57 per cent lower at midday while Shenzhen's was down 0.87 per cent. The tech board was announced in November by President Xi Jinping as a battle with the United States for technological supremacy heated up. Xi has called on China's tech leaders to become global champions, while the US has fought back in part by taking steps to clip the wings of Chinese telecom giant Huawei. When big tech companies list overseas, the government in Beijing loses influence over their fundraising and Chinese investors cannot share in those companies' success due to restrictions on purchasing overseas-listed shares. China realised it needed to loosen up. "If China didn’t launch this new tech board now, it would miss the chance to transform its economic development into this 'new economy' mode," said Yang Delong, chief economist at First Seafront Fund. But there are concerns that the new board could siphon liquidity from China's main markets, already pressured by slowing economic growth and the US trade war. As a result, analysts believe regulators will take a measured pace in growing the tech board. "The (main) markets are in a downturn now and if giant companies list on the tech board initially, market capital will be diverted. The market cannot bear that," said Yang. "The new board won't drain too much from the main boards."

Shares blast off as 'China's Nasdaq' debuts

Taiwan's foreign minister on Monday called for "genuine" democratic elections to be held in Hong Kong after the city was rocked by fresh political violence, comments that will likely infuriate Beijing.

<a href="https://www.wionews.com/world/hong-kong-police-fire-tear-gas-to-disperse-protesters-in-fresh-wave-of-clashes-237512">Hong Kong</a> has been plunged into its worst crisis in recent history by weeks of marches and sporadic violent confrontations between police and pockets of hardcore protesters.

The initial protests were lit by a now-suspended bill that would have allowed extraditions to mainland China.

But they have since evolved into a wider movement calling for democratic reforms, universal suffrage and a halt to sliding freedoms in the semi-autonomous territory.

Police fired tear gas and rubber bullets at protesters on Sunday night, the seventh weekend in a row that the city has witnessed political violence.&nbsp;

Separately masked men wielding sticks beat up anti-government protesters at a subway station, putting dozens in hospital.

In a tweet, on Monday Taiwan's foreign minister Joseph Wu said it was time for the city's leaders to grant universal suffrage, a core demand of protesters.&nbsp;

"It's sad to see the rule of law eroding and the divide between the people and the government widening in HongKong," Wu said as he accompanied President Tsai Ing-wen in a stopover in Denver on their way back from a visit to diplomatic allies in the Caribbean.&nbsp;

"The way forward is genuine democratic elections, not violence in the streets &amp; MTR stations. The freedom and human rights of the people must be protected!" he added.

<a href="https://www.wionews.com/world/taiwan-urges-china-to-repent-for-tiananmen-china-paper-says-event-is-merely-history-224036">Taiwan</a> is gearing up for a presidential election where a dominant issue will be relations with the mainland which sees the self-ruled island as its territory and has vowed to seize it.&nbsp;

Ties with Beijing have deteriorated since Tsai came to power in 2016 because her party refuses to recognise the idea that Taiwan is part of "one China".

Tsai has described the 2020 presidential election as a "fight for freedom and democracy", setting herself up as someone who can defend Taiwan from an increasingly assertive Beijing.

She is facing off against Han Kuo-yu from the opposition KMT party which favours warmer ties with the Chinese mainland.&nbsp;

Last week Tsai's government said it would assist Hong Kongers seeking sanctuary after local media reported dozens of activists involved in an unprecedented storming of the city's parliament had fled to the island.&nbsp;

China's communist party views Taiwan as its territory and has vowed to seize it, by force if necessary.

Beijing has previously indicated that the "one country, two systems" model under which Hong Kong is allowed to keep key liberties could be applied to Taiwan.

But years of sliding freedoms in Hong Kong has done little to endear Taiwan's inhabitants to the idea of Beijing's rule. 
&nbsp;

Taiwan's foreign minister on Monday called for "genuine" democratic elections to be held in Hong Kong after the city was rocked by fresh political violence, comments that will likely infuriate Beijing.

Taiwan's foreign minister on Monday called for "genuine" democratic elections to be held in Hong Kong after the city was rocked by fresh political violence, comments that will likely infuriate Beijing. Hong Kong has been plunged into its worst crisis in recent history by weeks of marches and sporadic violent confrontations between police and pockets of hardcore protesters. The initial protests were lit by a now-suspended bill that would have allowed extraditions to mainland China. But they have since evolved into a wider movement calling for democratic reforms, universal suffrage and a halt to sliding freedoms in the semi-autonomous territory. Police fired tear gas and rubber bullets at protesters on Sunday night, the seventh weekend in a row that the city has witnessed political violence. Separately masked men wielding sticks beat up anti-government protesters at a subway station, putting dozens in hospital. In a tweet, on Monday Taiwan's foreign minister Joseph Wu said it was time for the city's leaders to grant universal suffrage, a core demand of protesters. "It's sad to see the rule of law eroding and the divide between the people and the government widening in HongKong," Wu said as he accompanied President Tsai Ing-wen in a stopover in Denver on their way back from a visit to diplomatic allies in the Caribbean. "The way forward is genuine democratic elections, not violence in the streets & MTR stations. The freedom and human rights of the people must be protected!" he added. Taiwan is gearing up for a presidential election where a dominant issue will be relations with the mainland which sees the self-ruled island as its territory and has vowed to seize it. Ties with Beijing have deteriorated since Tsai came to power in 2016 because her party refuses to recognise the idea that Taiwan is part of "one China". Tsai has described the 2020 presidential election as a "fight for freedom and democracy", setting herself up as someone who can defend Taiwan from an increasingly assertive Beijing. She is facing off against Han Kuo-yu from the opposition KMT party which favours warmer ties with the Chinese mainland. Last week Tsai's government said it would assist Hong Kongers seeking sanctuary after local media reported dozens of activists involved in an unprecedented storming of the city's parliament had fled to the island. China's communist party views Taiwan as its territory and has vowed to seize it, by force if necessary. Beijing has previously indicated that the "one country, two systems" model under which Hong Kong is allowed to keep key liberties could be applied to Taiwan. But years of sliding freedoms in Hong Kong has done little to endear Taiwan's inhabitants to the idea of Beijing's rule.

Taiwan foreign minister Joseph Wu calls for 'genuine' elections in Hong Kong

US Secretary of State Mike Pompeo on Thursday called China's treatment of its Uighur Muslim minority the "stain of the century" and accused Beijing of pressuring countries not to attend a U.S.-hosted conference on religious freedom.

Pompeo calls China's treatment of Uighurs 'stain of the century'

A key gauge of <a href="https://www.wionews.com/world/opinion-chinas-debt-trap-dilutes-fatf-decision-to-put-pakistan-on-grey-list-149161">China's debt</a> has topped 300 per cent of gross domestic product, according to the Institute of International Finance (IIF), as <a href="https://www.wionews.com/world/us-china-report-progress-in-beijing-trade-talks-206635">Beijing</a> steps up support for the cooling economy while trying to contain financial risks.

China's total corporate, household and government debt rose to 303 per cent of GDP in the first quarter of 2019, from 297 per cent in the same period a year earlier, the IIF said in a report this week which highlighted rising debt levels worldwide.

The IIF is a private global financial industry association, based in Washington.

"While authorities' efforts to curb shadow bank lending (particularly to smaller companies) have prompted a cutback in non-financial corporate debt, net borrowing in other sectors has brought China's total debt to over $40 trillion some 15 per cent of all global debt," the report said.

"Of note, onshore bond issuance suggests a big pickup in borrowing by local governments and banks this year."

China's economic growth slowed to 6.2 per cent in the second quarter, its weakest pace in at least 27 years, as demand at home and abroad faltered in the face of mounting US trade pressure.

To revive investment and protect jobs, Beijing has been encouraging banks to lend more, particularly to struggling smaller firms. It has also unveiled billions of dollars in tax cuts and infrastructure spending.

In the first half of this year, local governments' total net bond issuance reached 2.1765 trillion yuan ($316.5 billion), the finance ministry said on Tuesday.

Chinese officials have said repeatedly said debt risks are manageable overall.&nbsp;

A key gauge of China's debt has topped 300 per cent of gross domestic product, according to the Institute of International Finance (IIF), as Beijing steps up support for the cooling economy while trying to contain financial risks.

A key gauge of China's debt has topped 300 per cent of gross domestic product, according to the Institute of International Finance (IIF), as Beijing steps up support for the cooling economy while trying to contain financial risks. China's total corporate, household and government debt rose to 303 per cent of GDP in the first quarter of 2019, from 297 per cent in the same period a year earlier, the IIF said in a report this week which highlighted rising debt levels worldwide. The IIF is a private global financial industry association, based in Washington. "While authorities' efforts to curb shadow bank lending (particularly to smaller companies) have prompted a cutback in non-financial corporate debt, net borrowing in other sectors has brought China's total debt to over $40 trillion some 15 per cent of all global debt," the report said. "Of note, onshore bond issuance suggests a big pickup in borrowing by local governments and banks this year." China's economic growth slowed to 6.2 per cent in the second quarter, its weakest pace in at least 27 years, as demand at home and abroad faltered in the face of mounting US trade pressure. To revive investment and protect jobs, Beijing has been encouraging banks to lend more, particularly to struggling smaller firms. It has also unveiled billions of dollars in tax cuts and infrastructure spending. In the first half of this year, local governments' total net bond issuance reached 2.1765 trillion yuan ($316.5 billion), the finance ministry said on Tuesday. Chinese officials have said repeatedly said debt risks are manageable overall.

China's debt tops 300 per cent of Gross Domestic Product, now 15 per cent of global total: Institute of International Finance

China has been rattled by three events. The first is the trade and technology dispute with the United States, which seems no nearer to resolution. The second is Washington’s decision to sell $2.20 billion (Rs 15,000 crore) worth of advanced military hardware to Taiwan that China regards as a part of the mainland. The third is the cascading series of violent protests in Hong Kong over China’s attempt to impose its authoritarian will on the thriving mercantile city that Britain handed back to China in 1997 under a 50-year agreement that guarantees its democratic freedoms.

Each of these events has the potential to erode China’s global credibility as it seeks to replace the United States as the world’s preeminent economic superpower.

The US overtook imperial Britain as the world’s largest economy in the 1890s. China’s 2019 GDP of $27.4 trillion by purchasing power parity (PPP) is already larger than America’s ($21.4 trillion). At current exchange rates too, the gap between the two countries is narrowing: China’s 2019 nominal GDP is $14.2 trillion against America’s $21.5 trillion. At their current respective rates of economic growth (roughly 6% and 3%), China’s nominal GDP could overtake US GDP in less than 20 years.

Apart from the three events that could slow China’s ascent – trade, Taiwan and Hong Kong – several other pressure points are building up. China rarely cares about international opinion, but the media exposé of the horrific treatment of over one million Chinese Muslims kept in prison-like detention camps in Xinjiang is creating global outrage.

The sale of military hardware, including battle tanks and anti-aircraft missiles, by the US to Taiwan after a self-imposed, decades-long embargo has meanwhile enraged Beijing. Last week, the Chinese government demanded that the sale be cancelled. But instead of paying heed to Beijing, the US further infuriated the Chinese by granting Taiwan’s anti-China President Tsai Ing-wen a two-day stopover in New York and Denver during her current visit to the Caribbean.

China has vowed to integrate Taiwan into the mainland, using military force if necessary. The sale of US military weaponry to Taipei is seen by Beijing as a deliberate aggravation.

Equally galling to Beijing are the protests in Hong Kong. When the former British colony was handed back to China in 1997, Hong Kong’s economy was nearly 20% of China’s. Today it is a mere 3%. But Hong Kong’s value to Beijing goes beyond the size of its economy. It is home to over one hundred global banks and has a vibrant stock market. In future, it could attract Chinese companies to list there rather than on the New York Stock Exchange, giving China access to an alternative source of global finance at its doorstep.

As The Economist observed: “Hong Kong is China’s conduit. It accounted for nearly 60% of direct investment both into and out of China in 2012-16. It has a mighty share of offshore yuan-denominated payments. Western firms put money and headquarters there because it is seen as part of the Western system. Its currency is tied to the American dollar. It ranks third in the world as a financial centre; its banking assets are worth a whopping 851% of GDP.”

So how might the anger on Hong Kong’s streets against China’s totalitarian regime play out? In its report, The Economist noted: “For many global firms, Hong Kong is both a gateway to the Chinese market and central to the Asian continent – more than 1,300 of them have their regional headquarters there. If Hong Kong came to be seen as just another Chinese city, Hong Kongers would not be the only ones to suffer. The threat is real. Since he took over as China’s leader in 2012, Mr Xi Jinping has been making it clearer than ever that the legal system should be under the party’s thumb. China must ‘absolutely not follow the Western road of judicial independence,’ he said in a speech published in February.&nbsp;

In 2015, Mr Xi launched a campaign to silence independent lawyers and civil-rights activists. Hundreds of them have been harassed or detained by the police. The authorities on the mainland have even sent thugs to other jurisdictions to abduct people, including a publisher of gossipy books about the party, snatched from a car park in Hong Kong and a tycoon taken from the Four Seasons hotel in 2017. The message is plain. Xi not only cares little for the rule of law on the Chinese mainland. He scorns it elsewhere, too.”

A paranoid China has warned the US against sending any “misleading signals” to “ultra-radicals” in Hong Kong. While Hong Kong’s China-friendly chief executive Carrie Lam has declared that the much-reviled extradition legislation is now “dead”, Hong Kongers believe it will at some stage be revived.

As a Special Administrative Region (SAR) of China till 2047, Hong Kong has less than a generation to come to terms with a transition from a free-wheeling capitalist city to being part of Communist China.

It is not a prospect anyone in Hong Kong relishes. For Beijing though, Hong Kong is part of a larger global affliction that includes uncertainty over Taiwan’s future, the international outrage over Xinjiang’s Muslims, and America’s relentless trade assault.

(This article was originally published on The DNA. Read the <a href="https://www.dnaindia.com/analysis/column-china-s-moment-of-truth-2773069">original article</a>)

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)&nbsp;

 
&nbsp;

China has been rattled by three events. The first is the trade and technology dispute with the United States, which seems no nearer to resolution. The second is Washington’s decision to sell $2.

China has been rattled by three events. The first is the trade and technology dispute with the United States, which seems no nearer to resolution. The second is Washington’s decision to sell $2.20 billion (Rs 15,000 crore) worth of advanced military hardware to Taiwan that China regards as a part of the mainland. The third is the cascading series of violent protests in Hong Kong over China’s attempt to impose its authoritarian will on the thriving mercantile city that Britain handed back to China in 1997 under a 50-year agreement that guarantees its democratic freedoms. Each of these events has the potential to erode China’s global credibility as it seeks to replace the United States as the world’s preeminent economic superpower. The US overtook imperial Britain as the world’s largest economy in the 1890s. China’s 2019 GDP of $27.4 trillion by purchasing power parity (PPP) is already larger than America’s ($21.4 trillion). At current exchange rates too, the gap between the two countries is narrowing: China’s 2019 nominal GDP is $14.2 trillion against America’s $21.5 trillion. At their current respective rates of economic growth (roughly 6% and 3%), China’s nominal GDP could overtake US GDP in less than 20 years. Apart from the three events that could slow China’s ascent – trade, Taiwan and Hong Kong – several other pressure points are building up. China rarely cares about international opinion, but the media exposé of the horrific treatment of over one million Chinese Muslims kept in prison-like detention camps in Xinjiang is creating global outrage. The sale of military hardware, including battle tanks and anti-aircraft missiles, by the US to Taiwan after a self-imposed, decades-long embargo has meanwhile enraged Beijing. Last week, the Chinese government demanded that the sale be cancelled. But instead of paying heed to Beijing, the US further infuriated the Chinese by granting Taiwan’s anti-China President Tsai Ing-wen a two-day stopover in New York and Denver during her current visit to the Caribbean. China has vowed to integrate Taiwan into the mainland, using military force if necessary. The sale of US military weaponry to Taipei is seen by Beijing as a deliberate aggravation. Equally galling to Beijing are the protests in Hong Kong. When the former British colony was handed back to China in 1997, Hong Kong’s economy was nearly 20% of China’s. Today it is a mere 3%. But Hong Kong’s value to Beijing goes beyond the size of its economy. It is home to over one hundred global banks and has a vibrant stock market. In future, it could attract Chinese companies to list there rather than on the New York Stock Exchange, giving China access to an alternative source of global finance at its doorstep. As The Economist observed: “Hong Kong is China’s conduit. It accounted for nearly 60% of direct investment both into and out of China in 2012-16. It has a mighty share of offshore yuan-denominated payments. Western firms put money and headquarters there because it is seen as part of the Western system. Its currency is tied to the American dollar. It ranks third in the world as a financial centre; its banking assets are worth a whopping 851% of GDP.” So how might the anger on Hong Kong’s streets against China’s totalitarian regime play out? In its report, The Economist noted: “For many global firms, Hong Kong is both a gateway to the Chinese market and central to the Asian continent – more than 1,300 of them have their regional headquarters there. If Hong Kong came to be seen as just another Chinese city, Hong Kongers would not be the only ones to suffer. The threat is real. Since he took over as China’s leader in 2012, Mr Xi Jinping has been making it clearer than ever that the legal system should be under the party’s thumb. China must ‘absolutely not follow the Western road of judicial independence,’ he said in a speech published in February. In 2015, Mr Xi launched a campaign to silence independent lawyers and civil-rights activists. Hundreds of them have been harassed or detained by the police. The authorities on the mainland have even sent thugs to other jurisdictions to abduct people, including a publisher of gossipy books about the party, snatched from a car park in Hong Kong and a tycoon taken from the Four Seasons hotel in 2017. The message is plain. Xi not only cares little for the rule of law on the Chinese mainland. He scorns it elsewhere, too.” A paranoid China has warned the US against sending any “misleading signals” to “ultra-radicals” in Hong Kong. While Hong Kong’s China-friendly chief executive Carrie Lam has declared that the much-reviled extradition legislation is now “dead”, Hong Kongers believe it will at some stage be revived. As a Special Administrative Region (SAR) of China till 2047, Hong Kong has less than a generation to come to terms with a transition from a free-wheeling capitalist city to being part of Communist China. It is not a prospect anyone in Hong Kong relishes. For Beijing though, Hong Kong is part of a larger global affliction that includes uncertainty over Taiwan’s future, the international outrage over Xinjiang’s Muslims, and America’s relentless trade assault. (This article was originally published on The DNA. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)

China’s moment of truth: Trade, Taiwan and Hong Kong are rattling the dragon

In a packed <a href="https://www.wionews.com/world/all-you-need-to-know-about-shanghai-cooperation-organisation-227166">Shanghai</a> classroom on a hot afternoon, nearly a hundred "mom-and-pop" investors were honing their trading skills ahead of the first opening bell for China's Nasdaq-style tech board.

They were learning survival techniques from veteran trader Shen Shikang, who predicted "a burst of stir-frying" quick buying and selling of stocks when trading starts on Monday.

Markets are brutal, Shen warned, urging students to "be disciplined" and "cut their losses ruthlessly".

Eight months after President Xi Jinping unveiled plans for Shanghai's technology innovation board, the first batch of 25 companies ranging from chip-makers to biotech firms will debut on the STAR Market.

Modeled after Nasdaq, and complete with a US-style IPO system, STAR maybe China's boldest attempt at capital market reforms yet. It is also seen driven by Beijing's ambition to become technologically self-reliant as a prolonged trade war with Washington catches Chinese tech firms in the cross-fire.

China's notoriously volatile stock markets are not for the faint-hearted. But with looser trading rules designed to give market forces a bigger role in setting prices on the new board, even seasoned investors are bracing for a wild ride.

"You will see kamikaze squads in this market, definitely," said investment banker Terence Lin, using a local term for groups of die-hard punters who drive share prices to the sky.

Lin, CEO of boutique investment bank World Financial Holding Group, said that while Nasdaq is dominated by professional investors STAR risks becoming a playground for speculators.

"Many Chinese retail investors buy stocks on recommendations from chat groups in social media such as QQ and Wechat, without even knowing what those companies are doing."

Some analysts say the board's success will hinge largely on whether it can attract domestic listings from the likes of Alibaba or Tencent, or firms that could potentially be China's own Microsoft or Qualcomm. Foreign companies cannot list on the market.

Regulators urge calm, Investors buckle up

Regulators are calling for understanding. "Initially, there could be trading imbalances between supply and demand, and the market should look at fluctuations in a reasonable way," Liu Ti, deputy general manager of the Shanghai Stock Exchange, told a recent forum.

The first batch of companies to list raised about 37 billion yuan ($5.38 billion), amid frenzied demand and some eye-popping valuations that in one case was 171 times earnings.

The IPOs were 1,695 times oversubscribed among retail investors, setting the stage for a scramble in the secondary market when trading begins.

Zhou Liang, founder of Shanghai Minority Investment Management, said he has a massive number of IPO shares which he plans to sell to hungry buyers.

"Prices will be higher because investor enthusiasm runs high," Zhou said.

There will be no daily price limits during the first five days of a company's listing, after which stocks will be allowed to rise or fall up to 20 per cent in a day. Elsewhere in China, price gains are capped at 44 per cent on debut, and limited to 10 per cent swings in either direction thereafter.

And, for the first time, loss-making companies will be allowed to list in China, giving start-ups more access to funding. (For a FACTBOX with more details on the new market, see)

Reagan Li, fund manager at Shanghai V-Invest Co Ltd, expected "boisterous" trading initially. He said he would only buy shares of selected companies at reasonable prices, hoping "the market can give us such a chance."

China's NASDAQ

China's previous attempts to create its own Nasdaq have largely floundered.

Shenzhen's tech-heavy ChiNext, designed to be a driver of innovation, was launched a decade ago, but became a hotbed of speculation and corporate cheating. Investor confidence has still not fully recovered after that bubble burst during the broader 2015 market crash.

An over-the-counter equity market, the New Third Board, saw a similar fate. After the initial excitement, the board has been deserted by investors and issuers.

Having witnessed ChiNext's implosion, Luo Huasen said he has no plans to venture into STAR, at least initially.

"I suspect the craziness of this market will be beyond my understanding," said Luo, chairman of Shanghai Hengsui Asset Management. "I will stay on the sidelines."

($1 = 6.8802 Chinese yuan renminbi)

In a packed Shanghai classroom on a hot afternoon, nearly a hundred "mom-and-pop" investors were honing their trading skills ahead of the first opening bell for China's Nasdaq-style tech board.

In a packed Shanghai classroom on a hot afternoon, nearly a hundred "mom-and-pop" investors were honing their trading skills ahead of the first opening bell for China's Nasdaq-style tech board. They were learning survival techniques from veteran trader Shen Shikang, who predicted "a burst of stir-frying" quick buying and selling of stocks when trading starts on Monday. Markets are brutal, Shen warned, urging students to "be disciplined" and "cut their losses ruthlessly". Eight months after President Xi Jinping unveiled plans for Shanghai's technology innovation board, the first batch of 25 companies ranging from chip-makers to biotech firms will debut on the STAR Market. Modeled after Nasdaq, and complete with a US-style IPO system, STAR maybe China's boldest attempt at capital market reforms yet. It is also seen driven by Beijing's ambition to become technologically self-reliant as a prolonged trade war with Washington catches Chinese tech firms in the cross-fire. China's notoriously volatile stock markets are not for the faint-hearted. But with looser trading rules designed to give market forces a bigger role in setting prices on the new board, even seasoned investors are bracing for a wild ride. "You will see kamikaze squads in this market, definitely," said investment banker Terence Lin, using a local term for groups of die-hard punters who drive share prices to the sky. Lin, CEO of boutique investment bank World Financial Holding Group, said that while Nasdaq is dominated by professional investors STAR risks becoming a playground for speculators. "Many Chinese retail investors buy stocks on recommendations from chat groups in social media such as QQ and Wechat, without even knowing what those companies are doing." Some analysts say the board's success will hinge largely on whether it can attract domestic listings from the likes of Alibaba or Tencent, or firms that could potentially be China's own Microsoft or Qualcomm. Foreign companies cannot list on the market. Regulators urge calm, Investors buckle up Regulators are calling for understanding. "Initially, there could be trading imbalances between supply and demand, and the market should look at fluctuations in a reasonable way," Liu Ti, deputy general manager of the Shanghai Stock Exchange, told a recent forum. The first batch of companies to list raised about 37 billion yuan ($5.38 billion), amid frenzied demand and some eye-popping valuations that in one case was 171 times earnings. The IPOs were 1,695 times oversubscribed among retail investors, setting the stage for a scramble in the secondary market when trading begins. Zhou Liang, founder of Shanghai Minority Investment Management, said he has a massive number of IPO shares which he plans to sell to hungry buyers. "Prices will be higher because investor enthusiasm runs high," Zhou said. There will be no daily price limits during the first five days of a company's listing, after which stocks will be allowed to rise or fall up to 20 per cent in a day. Elsewhere in China, price gains are capped at 44 per cent on debut, and limited to 10 per cent swings in either direction thereafter. And, for the first time, loss-making companies will be allowed to list in China, giving start-ups more access to funding. (For a FACTBOX with more details on the new market, see) Reagan Li, fund manager at Shanghai V-Invest Co Ltd, expected "boisterous" trading initially. He said he would only buy shares of selected companies at reasonable prices, hoping "the market can give us such a chance." China's NASDAQ China's previous attempts to create its own Nasdaq have largely floundered. Shenzhen's tech-heavy ChiNext, designed to be a driver of innovation, was launched a decade ago, but became a hotbed of speculation and corporate cheating. Investor confidence has still not fully recovered after that bubble burst during the broader 2015 market crash. An over-the-counter equity market, the New Third Board, saw a similar fate. After the initial excitement, the board has been deserted by investors and issuers. Having witnessed ChiNext's implosion, Luo Huasen said he has no plans to venture into STAR, at least initially. "I suspect the craziness of this market will be beyond my understanding," said Luo, chairman of Shanghai Hengsui Asset Management. "I will stay on the sidelines." ($1 = 6.8802 Chinese yuan renminbi)

'Expect craziness' as China readies debut of Nasdaq-style board

Representatives from the <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/robert-muller-to-testify-before-house-committees-on-us-russia-probe-in-july-congress-230456&amp;sa=U&amp;ved=2ahUKEwiMqYiKornjAhXKso8KHeq_DFMQFjACegQIDxAC&amp;usg=AOvVaw2sjx_-5jhYFhUOAKW0ZERJ">United States and Russia</a> are set to meet in Geneva on Wednesday to explore the concept of a new accord limiting nuclear arms that could eventually include China, senior US officials said on Monday.

US President Donald Trump has said that he would like to see a "next-generation" arms control deal with Russia and China to cover all types of nuclear weapons. He has broached the topic individually with Russian President Vladimir Putin and Chinese President Xi Jinping, including most recently at the G20 summit in Osaka last month.

China is not a party to nuclear arms pacts between the United States and Russia and it is unclear how willing Beijing would be to be drawn into talks, said the officials, who spoke to reporters on condition of anonymity.

"A good meeting would be some greater clarity about where the Russians see things going with the Chinese," one official said.

China's Foreign Ministry reiterated that the country had no interest in joining such talks.

"At present, we cannot see the preconditions or basis for China participating in these negotiations between the United States and Russia," ministry spokesman Geng Shuang told reporters in Beijing.

US Deputy Secretary of State John Sullivan will lead the delegation, which will include Tim Morrison, a top aide at the White House National Security Council, and representatives from the Pentagon, the Joint Chiefs of Staff, and the National Security Agency, the US officials said.

Russia's deputy foreign minister, Sergei Ryabkov, will lead the Russian delegation, the US officials said.

"We actually feel that - touch wood - we've actually got to a point where we can try to start this again," one US official said.

"I say touch wood because we're always just one incident away from unfortunately things getting derailed," the official said.

Relations between the <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/putin-says-us-russia-relations-are-getting-worse-and-worse-226830&amp;sa=U&amp;ved=2ahUKEwiMqYiKornjAhXKso8KHeq_DFMQFjAAegQIBBAC&amp;usg=AOvVaw0tvrZETUunIs5K2GbpcHAL">United States and Russia</a> have been sour for years, deteriorating after Russia annexed Crimea from Ukraine in 2014 and backed Syrian President Bashar al-Assad in the Syrian war.

Trump has sought better relations but has been hamstrung by a two-year investigation into the 2016 influence campaign by Russian operatives to attack Trump's Democratic rival in the presidential election, Hillary Clinton.

The investigation by US Special Counsel Robert Mueller found there was insufficient evidence that the Trump campaign illegally conspired with Moscow. The Kremlin has denied any meddling.

Relations also frayed over Russia's poisoning of a former spy and his daughter on British soil, the detention of Ukrainian navy boats and crew near Crimea, and Russia's detention of US citizens, among other incidents.

The Geneva meeting will be just two weeks before the United States withdraws from the Cold War-era Intermediate-Range Nuclear Forces (INF) treaty that required both countries to eliminate short-range and intermediate-range nuclear and conventional missiles.

US authorities believe Moscow is developing and has deployed a ground-launched system in breach of the INF treaty that could allow it to launch a nuclear strike on Europe at short notice. Russia has consistently denied any such violation.

No breakthrough is expected on the INF treaty, the US officials said.

US officials also are not planning to discuss renewal of the 2011 New START treaty, a US-Russia arms control pact which limits deployed strategic nuclear weapons.

One of the officials told reporters it would be "premature" to talk about New START, which is set to expire in February 2021 but can be extended for five years if both sides agree, calling the issues a "next-year problem."

Representatives from the United States and Russia are set to meet in Geneva on Wednesday to explore the concept of a new accord limiting nuclear arms that could eventually include China, senior US officials said on Monday.

Representatives from the United States and Russia are set to meet in Geneva on Wednesday to explore the concept of a new accord limiting nuclear arms that could eventually include China, senior US officials said on Monday. US President Donald Trump has said that he would like to see a "next-generation" arms control deal with Russia and China to cover all types of nuclear weapons. He has broached the topic individually with Russian President Vladimir Putin and Chinese President Xi Jinping, including most recently at the G20 summit in Osaka last month. China is not a party to nuclear arms pacts between the United States and Russia and it is unclear how willing Beijing would be to be drawn into talks, said the officials, who spoke to reporters on condition of anonymity. "A good meeting would be some greater clarity about where the Russians see things going with the Chinese," one official said. China's Foreign Ministry reiterated that the country had no interest in joining such talks. "At present, we cannot see the preconditions or basis for China participating in these negotiations between the United States and Russia," ministry spokesman Geng Shuang told reporters in Beijing. US Deputy Secretary of State John Sullivan will lead the delegation, which will include Tim Morrison, a top aide at the White House National Security Council, and representatives from the Pentagon, the Joint Chiefs of Staff, and the National Security Agency, the US officials said. Russia's deputy foreign minister, Sergei Ryabkov, will lead the Russian delegation, the US officials said. "We actually feel that - touch wood - we've actually got to a point where we can try to start this again," one US official said. "I say touch wood because we're always just one incident away from unfortunately things getting derailed," the official said. Relations between the United States and Russia have been sour for years, deteriorating after Russia annexed Crimea from Ukraine in 2014 and backed Syrian President Bashar al-Assad in the Syrian war. Trump has sought better relations but has been hamstrung by a two-year investigation into the 2016 influence campaign by Russian operatives to attack Trump's Democratic rival in the presidential election, Hillary Clinton. The investigation by US Special Counsel Robert Mueller found there was insufficient evidence that the Trump campaign illegally conspired with Moscow. The Kremlin has denied any meddling. Relations also frayed over Russia's poisoning of a former spy and his daughter on British soil, the detention of Ukrainian navy boats and crew near Crimea, and Russia's detention of US citizens, among other incidents. The Geneva meeting will be just two weeks before the United States withdraws from the Cold War-era Intermediate-Range Nuclear Forces (INF) treaty that required both countries to eliminate short-range and intermediate-range nuclear and conventional missiles. US authorities believe Moscow is developing and has deployed a ground-launched system in breach of the INF treaty that could allow it to launch a nuclear strike on Europe at short notice. Russia has consistently denied any such violation. No breakthrough is expected on the INF treaty, the US officials said. US officials also are not planning to discuss renewal of the 2011 New START treaty, a US-Russia arms control pact which limits deployed strategic nuclear weapons. One of the officials told reporters it would be "premature" to talk about New START, which is set to expire in February 2021 but can be extended for five years if both sides agree, calling the issues a "next-year problem."

US, Russia to discuss nuclear arms limits in Geneva on Wednesday: Officials

A populist mayor who favours closer ties with Beijing was announced as the presidential candidate for Taiwan's opposition on Monday as it looks to unseat <a href="https://www.wionews.com/world/fights-break-out-as-taiwans-president-tsai-visits-new-york-235282">President Tsai Ing-wen in upcoming elections</a>.

Han Kuo-yu won the primary for the opposition Kuomintang party, comfortably seeing off a challenge from Taiwan's richest man, <a href="https://www.wionews.com/world/populist-china-friendly-mayor-to-run-for-taiwan-president-226009">billionaire Foxconn founder Terry Gou</a>.

His victory sets up an unpredictable clash as Taiwan goes to the polls in January in a contest that will be dominated by relations with China.

Han, 62, has had a meteoric rise in the last two years, journeying from relative obscurity to becoming his party's presidential candidate in a phenomenon that has been dubbed the "Han tide".

Some have likened him to <a href="https://www.wionews.com/world/us-approves-possible-22-billion-arms-sale-to-taiwan-amid-tension-with-china-234130">US President Donald Trump</a> and other populist leaders who hail from outside establishment circles and command a fervent voter base buoyed by lofty promises of resurrecting their fortunes.

Han won 45 percent of votes cast in the KMT's primary which polls members of the public by telephone compared with Gou's 28 percent, a major setback for a man who made his fortune assembling iPhones and other key electronic devices in huge factories on the Chinese mainland.

Han was a relative unknown until he seized the Kaohsiung mayoralty in local elections last year in a contest few thought he would win given the southern city had long been a heartland for Tsai's ruling Democratic Progressive Party.

He has been able to muster huge, enthusiastic crowds during his presidential bid, where he has vowed to restore warm ties with Beijing and kickstart the economy.

Relations with Beijing have soured since Tsai came to power three years ago because she and her party refuse to recognise the idea that Taiwan is part of "one China".&nbsp;

Since her election, Beijing has cut official communications, ramped up military exercises, poached diplomatic allies and ratcheted up economic pressure on the island.&nbsp;

Taiwan has been a de facto sovereign nation since the end of a civil war in 1949 but China still views it as its territory and has vowed to seize it, by force if necessary.

Tsai has described the 2020 presidential election as a "fight for freedom and democracy", setting herself up as someone who can defend Taiwan from an increasingly assertive Beijing.&nbsp;

Supporters see Han as a plain-talking maverick and political outsider who has shaken up the staid politics of the KMT but detractors are unnerved by his efforts promoting warmer China ties.

A populist mayor who favours closer ties with Beijing was announced as the presidential candidate for Taiwan's opposition on Monday as it looks to unseat President Tsai Ing-wen in upcoming elections.

A populist mayor who favours closer ties with Beijing was announced as the presidential candidate for Taiwan's opposition on Monday as it looks to unseat President Tsai Ing-wen in upcoming elections. Han Kuo-yu won the primary for the opposition Kuomintang party, comfortably seeing off a challenge from Taiwan's richest man, billionaire Foxconn founder Terry Gou. His victory sets up an unpredictable clash as Taiwan goes to the polls in January in a contest that will be dominated by relations with China. Han, 62, has had a meteoric rise in the last two years, journeying from relative obscurity to becoming his party's presidential candidate in a phenomenon that has been dubbed the "Han tide". Some have likened him to US President Donald Trump and other populist leaders who hail from outside establishment circles and command a fervent voter base buoyed by lofty promises of resurrecting their fortunes. Han won 45 percent of votes cast in the KMT's primary which polls members of the public by telephone compared with Gou's 28 percent, a major setback for a man who made his fortune assembling iPhones and other key electronic devices in huge factories on the Chinese mainland. Han was a relative unknown until he seized the Kaohsiung mayoralty in local elections last year in a contest few thought he would win given the southern city had long been a heartland for Tsai's ruling Democratic Progressive Party. He has been able to muster huge, enthusiastic crowds during his presidential bid, where he has vowed to restore warm ties with Beijing and kickstart the economy. Relations with Beijing have soured since Tsai came to power three years ago because she and her party refuse to recognise the idea that Taiwan is part of "one China". Since her election, Beijing has cut official communications, ramped up military exercises, poached diplomatic allies and ratcheted up economic pressure on the island. Taiwan has been a de facto sovereign nation since the end of a civil war in 1949 but China still views it as its territory and has vowed to seize it, by force if necessary. Tsai has described the 2020 presidential election as a "fight for freedom and democracy", setting herself up as someone who can defend Taiwan from an increasingly assertive Beijing. Supporters see Han as a plain-talking maverick and political outsider who has shaken up the staid politics of the KMT but detractors are unnerved by his efforts promoting warmer China ties.

Populist pro-China mayor to face Tsai Ing-wen in Taiwan presidential clash

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