As he met with Yoon Suk Yeol, the president of the Philippines, for talks, Ferdinand Marcos announced on Monday ( October 7 ) that his country and South Korea have strengthened their bilateral ties to a strategic partnership. The two leaders also signed memorandum of understanding ( MOU) agreements onContinue Reading
HANOI: Ten Vietnamese fishers were violently robbed in the disputed South China Sea, state media reported on Wednesday (Oct 2), with an official saying the attackers came from Chinese-flagged vessels. The men were reportedly beaten with iron bars and robbed of thousands of dollars worth of fish and equipment on SundayContinue Reading
“This is another new opportunity, because in terms of fruit wise, consumers (prefer) freshness. So fresh durian is a very new thing for consumers, and definitely, we have a lot of big demand from the China market,” said Mr Tan Sue Yee, CEO of Malaysian durian supplier Top Fruits.
“The biggest challenge is fresh durians have a shorter shelf life, so we need to do it in a very fast way, and we are only able to do it by air shipment,” he added.
For more than a decade, the company has been shipping frozen durians to China, which has become its biggest overseas market and accounts for about 60 per cent of its total exports.
Mr Tan said the chance to export fresh durians has opened doors to introduce more varieties to the Chinese market.
It could also inspire more local entrepreneurs to invest in agribusiness, as well as encourage farmers to adopt better farming practices and improve the quality of their products, he added.
He said that while the most popular varieties are Musang King and Black Thorn, the company will “slowly focus more” on premium ones like D198, Golden Phoenix and IOI.
“(In) Malaysia, we have about 200 types of variety for the Chinese consumers, but we have to find the right variety and the right quantity for us to export,” he said.
While neighbouring countries such as Thailand and Vietnam have had a head start in exporting fresh durian, Malaysian farmers told CNA they are confident in the unique quality of their thorny fruit.
Durian Academy founder Lim Chin Khee said: “We are going for the premium market. That’s why I think it’s good that … we (sell) much more expensive (durians).
“Malaysia focusing on the premium market is the right path.”Continue Reading
SINGAPORE: A specific remark made by Chinese President Xi Jinping to regional authorities during a recent visit to the city in northwest Lanzhou, which was located along the Yellow River, caught the attention of foreigners in China. The statement was n’t about environmental protection.
Mr. Xi’s alleged statement,” Strive to achieve the full-year economic and social growth goals,” is a small change from the company command he made just months before.
Following China’s financial reform-focused Second Plenum conference held in July, his text therefore was stronger and clearer – that goals must be achieved “unwaveringly”.
This shift in tone, yet” subtle”, did not go unnoticed among spectators.  ,
” Where usually we expect to observe phrases such as ‘ completely determined’ or ‘ unwavering,’ ( Mr Xi’s use of ) the word’ strive’ emphasises the effort and not the outcome”, wrote Mr John Browning, managing director of BANDS Financial, a Hong Kong-based commodity and economical futures broker, in his newsletter.
Others say it was n’t just a change in rhetoric. Experts who spoke to CNA said the changing tone was a representation of Mr. Xi’s tacit acknowledgment of the complex problems that are currently confronting China’s economy and that it is trying to temper anticipation. Beijing is still formally committed to its 5 % growth goal for 2024.  ,
According to Mr. Matteo Giovannini, a senior finance manager at the Industrial and Commercial Bank of China ( ICBC ) and non-resident associate fellow at the Center for China and Globalization,” Chinese officials are frequently very deliberate in their wording.” He added that the linguistic change may be a” sign that economic pressures are mounting, and that the leadership is managing expectations.
Mr Xi’s transition from a “more resolute’ unwaveringly’ to significantly more careful’ strive to accomplish’ suggests a recognition ( from him ) of the difficulties in achieving China’s 2024 growth targets but certainly a whole admission that the target is unattainable”, said Mr Giovannini.
He adds:” While the change in language seems gentle, in the context of Taiwanese social conversation, even small variations in wording may indicate broader motives”.
Experts told CNA that it’s a probable indicator that Beijing is reviewing its strategy, which may help to set the stage for more effective policy changes in the upcoming year.  ,  ,
Although the appearance is not uncommon, it has been used numerous times throughout history.
Mr. Xi urged leaders to” strive to achieve the goals and tasks for economic and social growth” in February 2020, when the pandemic greatly burdened the economy and China broke with more than a quarter-century history by absolving China of its annual economic growth goal.
He repeated it in July 2022 after a weekly Politburo’s financial meeting, telling officers to” try to achieve the best results feasible”.  ,
He once again said,” Strive to achieve the various targets and tasks of economic and social development,” at the central economic work conference in December of last year.
Some experts do n’t think it represents a significant policy change despite Mr. Xi’s soft tone.  ,
Top leaders appear to have already accepted the reality that the growth target is unlikely to be met despite the change in the economic landscape, according to Ms. Guo Shan, partner at Hutong Research.
” This is likely due to the economy’s structural soundness, with auto sales improving, employment stabilising, and high-tech industries outperforming”, Ms Guo said. ” Rather than achieving an exact GDP figure, the leadership appears more focused on addressing long-term structural issues.”
Last Saturday ( Sep 14), China’s National Bureau of Statistics released its economic data for August, with most indicators falling short of expectations.  ,
Retail sales, industrial value added, and year-to-date fixed-asset investment ( FAI ) grew by 2.1 per cent, 4.5 per cent, and 3.4 per cent year-on-year, respectively- each lower than in July, even with recent policy support.  ,
SINGAPORE: Instead of buying mooncakes for the Mid-Autumn Event this year, consultant Ms Liu Siqi decided to save money and cook her own at a factory in Guangzhou, before reuniting with her home in her home, Foshan.
” I was considering whether to get them especially since Mid-Autumn is a unique time”, Ms Liu, 23, told CNA. However, I do n’t find them particularly tasty, and I believe the holiday mark-up is excessive.  ,
With her eight handmade mooncakes, the recent graduate remarked that she could save up to four yuan ( US$ 0.56 ) a piece.
That’s actually as cakes prices have fallen this time.  ,
According to research by Mashangying, the average market price dropped from 85.69 renminbi in 2023 to 83.36 renminbi.  ,
The China Bakery and Confectionery Industry Association also found that the majority of the cheap product boxes are under 60 renminbi, and the majority of the major cakes gift boxes are more economical this time.
However, it seems as though the once-dazzling autumn pastry’s glow may have lost its appeal among consumers, with businesses also suffering from subpar sales despite the lower price point.
” We always ( purchase ) so many mooncakes during Mid-Autumn, and this year is no different”, Ms Liu said.
“( This year ) I wondered, if I brought home another ( store-bought ) box, would my family really need it”?
According to observers, it reflects new spending patterns in China, particularly among younger consumers, as individuals become more observant and pragmatic with their choices for both purchases and spending.  ,
China’s extremely competitive cakes business was valued at a staggering 20 billion yuan in 2019, but revenue have decreased since the pandemic and merchants have continued to struggle.  ,
While cakes sales in 2023 crossed pre-COVID rates, generating more 22 billion renminbi, the forecast this year is dimmed.  ,
Cakes production is estimated to be about 300, 000 kilograms, down from 320, 000 kilograms in 2023. However, profits are projected to decline to 2019’s levels, according to a market trend statement released last month by the China Bakery and Confectionery Industry Association.  ,
In China, pastries are more than just a snack. Regarded as a symbol of luxury and extravagance, they are traditionally given to family, friends and relatives during the annual Mid Autumn Festival, which fell on Tuesday ( Sep 17 ).  ,
The majority of Chinese buyers have become “more pragmatic”, said Ms Olivia Plotnick, chairman of Wai Social, a Shanghai-based social media marketing company– which is “in collection with broader market changes” . ,
A greater emphasis on practicality, affordability, and real value is being fueled by rising economic pressures and changing consumer values, according to Ms Plotnick.  ,
” When it comes to traditional products such as mooncakes, this manifests in ( consumers ) choosing simplicity and meaningfulness over luxury”.
Ms. Liu, one of the less financially savvy shoppers, attributed this year’s decline in mooncake purchases to China’s overall economic situation.  ,
” Everyone is being more budget-conscious. It’s quite normal for people to scale down their spending in such situations”, she said. ” I think it’s due to the overall economic situation, which is n’t great this year, including my personal financial situation, which is not as good as last year”.
The slowing economy and continued anti-corruption drive, as well as quality issues, are contributing factors to the decline, according to some experts.
According to Julien Lapka, founder of Inner Chapter, a brand strategy and insight studio with a base in Shanghai, a nationwide crackdown on bribery and corporate gifting negatively impacted sales this year.  ,
Sultan Ibrahim Sultan Iskandar, the king of Malaysia, is scheduled to visit China for a four-day condition visit this week. He is likely to ask for help to revive tasks that improve Singapore’s connectivity.
China’s foreign ministry announced in a statement on Wednesday ( 18 September ) that President Xi Jinping had invited him to the trip from Sep 19 to Sep 22. It comes as China and Malaysia commemorate this year’s 50th bilateral relationship celebration.  ,
The Johor king will make his next international vacation since taking the oath of office on January 31 as Malaysia’s 17th king. His second was a two-day condition visit to Singapore in the beginning of May.
Under Malaysia’s distinctive method of monarchy, the eyes of the nine imperial people take turns to be the ruler every five years, and are supposed to be above politics.
According to a statement released by Malaysia’s foreign government on Wednesday, Sultan Ibrahim may be accompanied by Transportation Minister Anthony Loke, Housing and Local Government Minister Nga Kor Ming, and Foreign Ministry Secretary-General Amran Mohamed Zin, according to state media firm Bernama.
Additionally, top Istana Negara officials and relevant ministers and organizations will be a part of the group.
” His Majesty may receive a royal welcome at Beijing’s Great Hall of the People, followed by an audience with Xi. The president of China will sponsor a state banquet in honour of His Majesty”, Malaysia’s foreign government said.
” His Majesty has also consented to grant an audience to ( Chinese ) Premier Li Qiang”, Wisma Putra added.
Premier Li endorsed Malaysia’s plans to expand its connection through the US$ 10 billion East Coast Rail Link and another China-backed railway projects in Laos and Thailand during his June visit.
A year-long anti-dumping investigation into American goods of rape was revealed on Monday by the Chinese Ministry of Commerce.  ,
” Canada has ignored WTO ( World Trade Organization ) principles and violated its pledges at the WTO”, said a department spokeswoman, adding that authorities had “requested sessions” with their American counterparts over the problem.  ,
The spokesperson called this a classic unilateral and trade protectionist act, which seriously impairs the rules-based multilateral trading system and disrupts global industrial and supply chains for ( Chinese ) EVs as well as steel and aluminum products.  ,
Economics doctor Dr. Chen predicted that Canada’s trade guidelines will continue to closely resemble those of the US.  ,
” Canada will only look to the US,” according to the statement.” If the US does reduce some of the tariffs that China has imposed on imported EVs and other goods, Canada might do the same.” Otherwise, Canada will be just as hard as the US on China” . ,
Commenting on the condition, Ms Garcia-Herrero expressed concerns about Beijing’s activities.  ,
China” ca n’t use retaliation as strictly or as powerfully as it thinks,” she said, noting that Beijing may have also played a role in previous trade disputes and tensions with the US, Australia, and South Korea.
For example, China in 2020 had imposed restrictions and obligations on American goods, when political disputes with Australia turned into a full-blown business war.  ,
Despite ending the three decades of punishing levies and removing the last remaining taxes on wine in March, experts fear that producers will not be willing to put all their hopes on a seemingly attractive industry in the near future.
” China thinks it has a lot of leverage, but it backfires because states start fearing China, and so they want to de-risk”, she said.  ,
Although China’s trade restrictions have caused significant declines in American exports of the intended goods, many of the impacted Australian sectors have found new markets in nations like Vietnam, Indonesia, and Thailand.
And a Beijing response that is too stern could backfire, adding to” the West’s populist outlook on China” and” a great level of fear of China,” according to Mr. Daniel Senger, managing partner at the Shanghai-based world consulting firm Wilton Partners. That adds to “impulsive” reactions when it comes to laws on China, specifically from politicians seeking company, he noted.
China believes its EVs are badly treated and contrary to WTO rules because they represent” a quantitative advantage in terms of lower cost and higher sophistication” to what the West is now present, he told CNA.  ,
Beijing appears to know that its bear warrior diplomacy was widely despised and yet disliked by many trade partners, particularly in developed nations. ”  ,
According to Chinese Foreign Ministry spokesperson Mao Ning on August 22, the EU may work with China “in the same way to discuss a proper negotiation and avoid escalations,” while the China Chamber of Commerce has stated that such measures may increase trade tensions between China and the EU and give a bad signal to international cooperation and natural development efforts.
One possible middle ground could be the development of Chinese EV output in Europe and the production of lower-end, inexpensive vehicles that Europe and North America cannot possibly afford, Mr. Senger adds.
So Beijing may be cautious this time around and might even choose a” lighter “approach, says SMU’s Mr Gao.
According to experts, any business war between China and the West had unavoidably had repercussions, and one part would want to profit is Southeast Asia.  ,
China has been the country’s top trading partner for 14 consecutive years, and US industry level between nations surpassed US$ 722 billion in 2022.  ,
Southeast Asian nations might benefit in a number of ways.  ,
” The first is to capture spillover volume ( from China ) at low prices,” said Mr Warwick Powell, an adjunct professor at the Queensland University of Technology.  ,
The second is that Chinese businesses could use their presence in the region as a platform for exporting to the EU and North America. This has been the pattern already.”
In the wake of a potential tariff war, the region could experience both positive and negative effects.  ,
The natural choice, or the simplest choice, would be Southeast Asia, according to Dr. Chen, if the sanctions against China are so severe that they will force more Chinese and foreign capitals with existing ones to relocate some of their production capacities abroad.  ,
According to law professor Mr. Gao, new Chinese EVs could also be exported from these Southeast Asian nations to the EU and the US.
However, this might also present challenges for regional EV manufacturers, who may struggle to compete.  ,
Chinese manufacturers accounted for 70 % of all EV sales in Southeast Asia last year, with automaker BYD holding the lead, according to Hong Kong-based Counterpoint Research.
VinFast Auto, a Vietnamese manufacturer of electric vehicles, is struggling to gain ground in the fiercely competitive EV market. It delivered just 9, 689 cars in the first three months of the year, well off the pace to meet its annual 100, 000 target. Last year, some 34, 855 vehicles were sold, most of which went to related parties.
But China is also facing resistance in the region as it tries to pivot and direct more exports to nations in Southeast Asia.
Indonesia, a growing global powerhouse and Southeast Asia’s largest economy, has been eyeing heavy duties on textile imports. Thailand has also expressed concern about the recent influx of cheap goods from China, claiming that industry groups have struggled to compete.
In August, Malaysia launched its own anti-dumping investigations into imports of polyethylene terephthalate and other products from China.
In a statement released on August 9, Malaysia’s Ministry of Investment, Trade and Industry stated that the government would impose a provisional anti-dumping duty at the rate necessary to stop the domestic market from being further damaged.
After five months of deployment, the Philippines will return to port on Sunday ( 15 ), according to the maritime council. What Manila believes to be China’s small-scale restoration actions has been monitored by the coast guard ship Teresa Magbanua since April. Beijing has become enraged by its appearance, makingContinue Reading
Victoria University’s Dr Peng notes that while raising the retirement years is one alternative to China’s socioeconomic problems, it is not a long-term repair.  ,
She said,” The Chinese government also needs to raise the country’s reproduction rate to solve the problem in the long run.” It is essential to rely on technology to improve and improve the quality of the labor power.
The increase in social security rewards is not a problem that affects China only. Related circumstances have recently occurred in nations like the US and France, according to Dr. Tan Ern Ser, Associate Professor of Sociology at NUS.  ,
According to him, these countries also deal with the economic viability of their social protection systems in the face of declining population.  ,
” This has to do with the rapidly ageing population, along with declining amounts of younger people contributing to social surveillance”, Dr Tan added.  ,
The state-run Chinese Academy of Sciences has said in 2019 that the pension system will run out of money by 2035 if there’s no more transformation, with about a fourth of the country’s provincial-level areas running income budget shortfalls, according to fund government information.
” If the pension age is no extended, resources may work out in the near future, state in a decade, and social security may not be able to fulfill its commitments. Extending the retirement age would slow down that process” . ,
According to Mr. Mo Rong, the mind of the Chinese Academy of Labor and Social Security, who spoke with People’s Daily, the decision was made to advertise job while also promoting rights and interests, as well as work to promote a fairer work atmosphere.
This is the first time our nation has established strict laws protecting the rights and passions of over-age employees. It will address issues like the previous ability to apply the security of the rights and interests of over-age employees, according to Mr. Mo.  ,
A moderate increase in the labor supply will be the quick result, according to Dr. Peng, starting in January 2025. Although the raise is “very small,” this will help to offset the negative effects of a declining labor caused by population ageing.
In the next 10 times, about 300 million people now aged 50 to 60- China’s largest statistical team- are set to leave the workplace at a time when income budgets are now stretched.  ,
They may not have a job, despite the report number of 11.7 million college graduates who are scheduled to graduate this time. Data from the country’s data ministry in August showed that the jobless rate for 16 to 24-year-olds in China, excluding individuals, rose to 17.1 per share in July from 13.2 per share in the previous month.
Additionally, the policy is anticipated to ease pressure on China’s overburdened pension system, she said, as it reduces the number of new retirees and increases contributions from older workers who work longer, she said.  ,
Despite this urgency, Dr Zhao acknowledges the delicate timing of the policy’s rollout, given the current economic environment.  ,
Dr. Zhao argued that there would be less concern about the policy’s impact on employment opportunities in a more favorable job market, saying:” High youth unemployment makes it difficult to argue for the postponement of the retirement age.
There would be less concern about the proposal if youth unemployment were low. People are now concerned that if the retirement age is raised, the employment situation will worsen.
However, China must take action, and it would be wiser to do it now.
India’s Civil Aviation Minister Ram Mohan Naidu Kinjarapu said on Thursday ( 12 ) that India and China discussed the possibility of their air travel to resume between their two nations. China was reportedly pressing India to resume clear customer planes, according to a Reuters report in June, but NewContinue Reading