Japan said on Saturday it would extend around $6 billion in development aid to Mekong region countries, as China prepares to launch a new institutional lender seen as encroaching on the regional clout of Tokyo and ally Washington.
Tags: Xi Jinping
China's president starts his first official US visit
Chinese President, Xi Jinping and his wife kick off their first official visit to the US today. The president safely landed in Paine Field, Seattle in an Air China 747 near a Boeing plant. Washington state Governor, Jay Inslee was there to welcome the president and his entourage. The president chooses Seattle as he regards Seattle as the "America's gateway to Asia".
China President calls for punishing cyber hackers
Close on the heels of his US tour, China President Xi Jinping said Chinese government doesn't hack commercial secrets nor it supports Chinese companies engaged in such activity. In an interview with Wall Street Journal (WSJ), Xi Jinping further said that whether governments or companies, whoever involved in cyber theft should be punished according to the law. China and the US are equally concerned about the cybersecurity. Jinping seeks the cooperation from the US to check cyber espionage. The cyber crime will be a major point for discussion during the meeting between Obama and Jinping.
Chinese firms sign L.A-Las Vegas high-speed rail project
Marking a major development in US-China business relations, a group of firms from the world's second largest economy signed a deal with the US partner XpressWest to build a high-speed rail link between Los Angeles and Las Vegas.
Obama to host China's president on September 25
President Barack Obama is hosting his Chinese counterpart, Xi Jinping, for an official state visit next week. A state dinner will be held at the White House on September 25 to welcome Xi, who will be accompanied by his wife Peng Liyuan, a Chinese folk singing superstar.
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China will pledge a multi-billion dollar investment in Europe's new infrastructure fund at a summit on June 29 in Brussels, according to a draft communique seen by Reuters - Beijing's latest round of chequebook diplomacy to win greater influence.
Hungary has become the first European country to sign a cooperation agreement for China's new "Silk Road" initiative to develop trade and transport infrastructure across Asia and beyond, China's foreign ministry said late on Saturday.
China and Peru have agreed to study the feasibility of a controversial 5,300 km (3,300 miles) transcontinental railroad that will connect Peru's Pacific coast with Brazil's Atlantic coast, China's official Xinhua News Agency reported.
China and India signed 26 business deals worth more than $22 billion in areas including renewable energy, ports, financing and industrial parks, an Indian embassy official said on Saturday.
Energy, transport and finance deals are likely to be on the agenda as Chinese President Xi Jinping meets his Russian counterpart Vladimir Putin during a three-day visit to Russia, where he will attend World War Two commemorations.
China's leaders, caught off guard by a sharp economic slowdown and worried about the risk of job losses, are likely to resort to fiscal stimulus to revive growth after a run of monetary policy easings proved less effective, policy insiders said.
China's biggest lender by assets, Industrial and Commercial Bank of China, said on Wednesday it had signed an infrastructure pact worth $2 billion with the oil-rich west African nation of Equatorial Guinea.
China will likely cut the number of its central government-owned conglomerates to 40 through massive mergers, as Beijing pushes forward a sweeping plan to overhaul the country's underperforming state sector, state media reported on Monday.
Leaders of Asian and African nations called on Wednesday for a new global order that is open to emerging economic powers and leaves the "obsolete ideas" of Bretton Woods institutions in the past.
