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Trust issues? China targets a $3 trillion shadow banking industry

SHANGHAI: As a flood of unregulated cash swirls through the Chinese economy, Beijing has been taking aim at the trust companies whose unrestrained lending practices are worrying regulators, reported Reuters. The trusts, at the heart of a vast shadow banking industry, are being pressured to step up compliance and background checks, and are being pushed…

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Khawaja Asif to visit Beijing on Friday

BEIJING: Foreign Minister Khawaja Muhammad Asif will arrive in Beijing on an official visit on Friday and hold discussions on bilateral relations, regional and international issues of mutual interest, a spokesperson of Chinese foreign ministry said on Wednesday. During his visit, Khawaja Asif will hold talks with his Chinese counterpart Wang Yi as well as…

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China says it hopes India will ‘learn lessons’ from standoff

BEIJING: China said Wednesday it hopes India will “learn lessons” following the end of a months-long military stand-off in a strategically important disputed area in the Himalayas. The two nations resolved the deadlock over the Doklam area claimed by both China and Bhutan, an ally of India, just days before Indian Prime Minister Narendra Modi…

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Braving security fears, Chinese seek ‘Silk Road’ riches in Pakistan

LAHORE, SHANGHAI: Zhang Yang, a businessman from Chongqing in southwest China, is searching online forums for fellow stout-hearted entrepreneurs willing to cast aside security concerns and join him on a scouting mission to Pakistan, reported Reuters. Zhang, 48, is one of a growing number of Chinese pioneers sensing an opportunity across the Himalayas in Pakistan,…

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China calls upon US to respect Pakistan’s sovereignty

BEIJING: China’s top diplomat has defended Pakistan’s “important role” in Afghanistan in a phone call with US Secretary of State Rex Tillerson, after President Trump accused Islamabad of harbouring militants. Trump, in unveiling his Afghanistan strategy this week, said Pakistan was playing a double game by accepting American aid while giving safe haven to insurgents…

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China military criticizes ‘wrong’ U.S. moves on Taiwan, S.China Sea

BEIJING: The “wrong” actions of the United States on Taiwan, its South China Sea patrols and deployment of an advanced anti-missile system in South Korea have had a large, negative influence on military trust, a senior Chinese officer said on Thursday. Fan Changlong, a vice chairman of China’s powerful Central Military Commission, told Joseph Dunford,…

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Pakistan fully supports China’s stance on Tibet: President

ISLAMABAD: President Mamnoon Hussain Monday while expressing concern over the Indian incursions into the Chinese territory, said Pakistan fully supported the stance of China. Talking to Vice Premier of China Wang Yang here at the President House, he appreciated China for its adept handling of the issue and reiterated that Pakistan stood by it on…

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China seethes on sidelines amid latest North Korea crisis

BEIJING: Angered as the United States and its allies ignore Chinese calls to calm tensions over North Korea, and distracted by domestic concerns, China is largely sitting out the latest crisis with nuclear-armed Pyongyang. While a conflict on the Korean peninsula would affect China, and in worst-case scenarios unleash a radioactive cloud or waves of…

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For Pakistanis, China ‘friendship’ road runs one way

TASHKURGAN: The China-Pakistan Friendship Highway runs over 1,300 kilometres (800 miles) from the far western Chinese city of Kashgar through the world’s highest mountain pass and across the border. For China, the two-lane thoroughfare symbolises a blossoming partnership, nourished with tens of billions of dollars of infrastructure investment. But for many Pakistani businessmen living and…

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China hits back at Trump criticism over North Korea

BEIJING: China hit back on Monday after U.S. President Donald Trump tweeted he was “very disappointed” in China following Pyongyang’s latest missile test, saying the problem did not arise in China and that all sides need to work for a solution. China has become increasingly frustrated with American and Japanese criticism that it should do…

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China puts on trial its ‘Sky Train’

QINGDAO: Train carriages in the sky are a common sight in the Chinese city of Qingdao from the province Shandong as China tested its first ‘sky train’ on Thursday. According to a popular Chinese news website, engineers claim that the sky train ‘can perform nearly three times better than normal subway trains, and can ascend gradients…

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Chinese media once again warns India

BEIJING: India has repeatedly ignored China’s calls for withdrawal of its troops that crossed the Sikkim Section of the border and entered Chinese territory. Turning a deaf ear to China will only worsen the situation. The Sikkim Section of the China-India border has been delimited, and both Chinese and Indian governments have repeatedly acknowledged it,…

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Trump pledges to act on North Korean threat

WASHINGTON: U.S. President Donald Trump vowed on Thursday to confront North Korea “very strongly” following its latest missile test and urged nations to show Pyongyang that there would be consequences for its weapons program. North Korea on Tuesday test-launched an intercontinental ballistic missile that some experts believe has the range to reach the U.S. states…

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China issues stern warning to India: Learn from 1962 defeat

SIKKIM: China responded to Indian threats with a stern warning on Thursday–Learn from 1962 defeat and stop clamouring for war.  According to the spokesperson of the Peoples Liberation Army (PLA), Beijing has reacted sharply to Indian Army chief’s recent statement in which he said that India was ready to take on China, Pakistan and internal…

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15 dead, over 100 missing in China landslide

Rescuers pulled 15 bodies from an avalanche of rocks that buried a mountain village in southwest China on Saturday as an increasingly bleak search for some 100 people carried into the night. Only three survivors — a couple and their one-month-old baby — have been found so far after 62 homes in Xinmo village vanished…

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Five London towers evacuated over fire safety fears

LONDON: Residents of 800 London flats were hurriedly evacuated Saturday due to fire safety fears over their tower blocks’ external cladding, after urgent testing prompted by the deadly Grenfell Tower inferno. The cladding on the five Chalcots Estate towers is similar to that used on Grenfell, widely blamed for the rapid spread of the massive…

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China launches its first X-ray space telescope

BEIJING: China successfully launched on Thursday its first X-ray space telescope to study black holes, pulsars and gamma-ray bursts, state media reported. A Long March-4B rocket carried the 2.5-tonne telescope into orbit from the Jiuquan Satellite Launch Center in northwest China’s Gobi Desert at 11:00 am (3:00 GMT), according to the official Xinhua news agency…

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China is behaving like a ‘bully’ in South China Sea: McCain

SYDNEY: China is behaving like a “bully” with its militarization of islands in the South China Sea, Republican U.S. Senator John McCain said on Tuesday, activity Washington must confront with its allies to find a peaceful solution. In a speech in Sydney, McCain said China was asserting itself globally, best illustrated by militarizing artificial islands…

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Pakistan, Afghanistan, China hold trilateral talks in Beijing

ISLAMABAD: The first round of China-Afghanistan-Pakistan trilateral Practical Cooperation Dialogue was held in Beijing on May 27. The three sides exchanged in-depth views on trilateral cooperation in a friendly atmosphere and agreed to promote practical measures for cooperation, said a press released. The Dialogue was co-chaired by Director General (DG) Mansoor Ahmad Khan ofPakistan’s Ministry…

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All you need to know about the Chinese trains made for Lahore’s Orange Line project

HUNAN: The first of the 27 subway trains made by Chinese manufacturers for the Orange Line Project rolled off production on Monday. From the looks of it, the subway train equipped with added features, will be a welcome addition to Pakistan’s railway network. The train, which rolled off production in China’s Hunan province, offers a…

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Senior Chinese diplomat offers to answer CPEC-related questions on Twitter

ISLAMABAD: The Deputy Chief of the Chinese Embassy in Pakistan Lijian Zhao invited Twitter users in general to ask and pose questions regarding the China-Pakistan Economic Corridor (CPEC). The economic corridor has attracted a lot of interest from around the world, especially in Pakistan and China. Lots of misconceptions and perceptions have been doing the…

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