All articles tagged with #president xi jinping
Some US executives in Beijing for a business summit are rearranging their schedules after receiving a last-minute invitation to meet with a top Chinese leader, widely believed to be President Xi Jinping, indicating a potential shift in US-China relations and business opportunities.
China's economic resurgence is in trouble due to the global recession, declining population, and overproduction, leading to a mass recession and cost-of-living crisis. Despite this, China's military spending is set to increase by 7.2%, with a focus on building up its military capabilities, including a significant nuclear arsenal and infrastructure for potential conflict. President Xi Jinping's leadership is steering China towards a more insular economy and increased military influence, posing potential challenges for the US and other global powers.
Chinese regulators are planning to brief President Xi Jinping on the stock market as it continues to plummet, with anticipation for more forceful government efforts to end the rout. The CSI 300 benchmark closed 3.5% higher after the news, and foreign inflows surged. Officials have been working on market rescue measures, including tightening trading restrictions and planning to update the top leadership on market conditions and policy initiatives. The $7 trillion stock rout has prompted concerns about consumer confidence and the need for stabilizing the stock market, with hopes that this time will be different.
At least 47 people have been buried in a landslide in Yunnan, China, with rescue efforts underway in sub-zero temperatures. President Xi Jinping has called for all-out search and rescue operations to minimize casualties. Videos show rescuers working among collapsed buildings, and more than 500 people have been evacuated from the region. The cause of the landslide is still unknown, and weather forecasts predict more light snow in the coming days.
Chinese President Xi Jinping and other top Communist Party and state leaders paid their final respects to former premier Li Keqiang, who passed away from a heart attack. The ceremony took place at the Babaoshan Revolutionary Cemetery in Beijing, where Li's body was cremated. Flags flew at half mast across the country, and millions of people posted on social media to commemorate him. Li served as premier for two terms and was hailed as an outstanding leader. Foreign governments, including Japan, also paid tribute to Li.
China has officially removed its defence minister, Li Shangfu, who has not been seen in public since late August. President Xi Jinping signed a decree dismissing Li from his post, as well as his other political positions. This follows the removal of Foreign Minister Qin Gang in July. While the reasons for their removals remain undisclosed, it has raised questions about President Xi's circle of power and his commitment to eliminating corruption. The lack of transparency in China's political and legal systems leaves uncertainty regarding whether Li and Qin will face prosecution or other legal sanctions.
A bipartisan group of US senators, led by Senate Majority Leader Chuck Schumer and Senator Mike Crapo, plans to visit China next week and hopes to meet with President Xi Jinping. The senators will discuss a range of issues, including Micron Technology Inc.'s ability to do business in China amid an ongoing cybersecurity probe. The trip follows recent visits by high-level US officials to China as both countries seek to improve relations. The senators also plan to raise concerns about human rights, fentanyl, and the investment climate for US companies. The US is hoping to arrange a meeting between President Joe Biden and President Xi at the Asia-Pacific Economic Cooperation summit in November.
China has lodged a complaint with Germany after German Foreign Minister Annalena Baerbock referred to President Xi Jinping as a "dictator" during a live interview with Fox News. The Chinese foreign ministry called the remark "absurd" and an "open political provocation," stating that it infringed on China's political dignity. Baerbock has been an outspoken critic of China, previously stating that it poses a challenge to global coexistence. This incident follows U.S. President Joe Biden's similar characterization of Xi as a "dictator" during a visit to China by Secretary of State Antony Blinken.
China's Belt and Road Initiative, aimed at expanding trade and international influence, is facing challenges as the country experiences an economic slowdown and a rise in defaults, including those caused by COVID-19. President Xi Jinping is now focusing on improving the profitability of Belt and Road projects, signaling a shift in China's overseas investment strategy.
A cooking gas explosion at a barbecue restaurant in Yinchuan, China, killed 31 people and injured seven others on the eve of a long holiday weekend. Chinese President Xi Jinping ordered a national safety campaign and demanded urgent medical care for the injured. Nine people, including the owner of the restaurant, shareholders, and employees, have been detained by authorities, and their assets have been frozen. The cause of the accident is being investigated. Industrial accidents of this type are a regular occurrence in China, usually attributed to poor government supervision, corruption, cost-cutting measures by employers, and little safety training for employees.
Secretary of State Antony Blinken's visit to Beijing aimed to strengthen communication between the US and China, but the relationship's future depends on what happens in the coming weeks. Blinken was unable to make significant progress on revitalizing military-to-military communication, which is vital for deescalating accidental incidents. The most important engagement during his trip was a sit-down with President Xi Jinping, which came together during the final hours of his visit. Additional dialogue is expected to take place in the aftermath of Blinken's visit, and officials from both countries have speculated that President Biden and Xi could sit down again in November.
Bill Gates, co-founder of Microsoft, is set to meet with Chinese President Xi Jinping on Friday during his visit to China, marking Xi's first meeting with a foreign private entrepreneur in recent years. The sources did not disclose what the two might discuss. Gates tweeted on Wednesday that he had landed in Beijing for the first time since 2019 and that he would meet with partners who had been working on global health and development challenges with the Bill & Melinda Gates Foundation.