China
‘Lying Through His Teeth’: Taiwan Scoffs at China ‘No Missile’ Claim
Saul Loeb/Agence France-Presse/Getty Images U.S. Chairman of the Joint Chiefs of Staff Admiral Mike Mullen (L) and China’s Chief of the General Staff of the People’s Liberation Army General Chen Bingde shake hands after holding a joint press conference at the Pentagon in Washington, DC, May 18, 2011. Wally Santana/Associated Press n this Friday, Oct. 22, 2004, file photo, Taiwanese soldiers stand in front of one of Taiwan’s Patriot missile air defense systems on the northern coastal town of Wanli, Taiwan. More In Military Eyeing China, Rep. Coffman Seeks Rare-Earth ‘Inventory’ Team America, Meet Team China? Chinese Light Fixtures Compromise U.S. Combat Readiness? China Watch: Aircraft Carrier Expectations, UFOs on Baidu, Inbred Pandas Washington Mulls Stockpiling Rare Earths Over the past 60 years, China and Taiwan have hurled threats across the 100-mile-wide Taiwan Strait. But China’s People’s Liberation Army Chief of General Staff Chen Bingde found a new way to get Taiwan’s goat: downplay China’s threat to Taiwan. At the first high-level military dialogue between the U.S. and China since military contact was derailed following the sale of $6 billion worth of weapons to Taiwan in January 2010, Gen. Chen denied that China had any missiles across from Taiwan, saying, “I can tell you here, responsibly, that we only have garrison deployment across from Taiwan and we do not have operational deployment, much less missiles stationed there.” Experts and Taiwan’s Ministry of National Defense say China has more than 1,000 missiles targeted at Taiwan. While many of the missiles may not be “across from Taiwan,” they’re awfully close, as Mark Stokes, executive director of think tank Project 2049 Institute thoroughly chronicles in a recent blog post . Taiwan’s top brass responded in kind, with Minister of National Defense Kao Hua-chu calling Gen. Chen’s statement “far from the truth.” He added, “In actuality China has been continuously increasing the number of missiles it has deployed along the coast.” And lest anyone interpret Gen. Chen’s comments as an indication of an actual softening of China’s stance on Taiwan, the military leader also stressed that China’s position on the island hasn’t changed, and that further arms sales to Taiwan could impact U.S.-China relations. In Taiwan’s legislature on Thursday, Lin Yu-fang, a legislator and senior member of Taiwan’s national defense committee, said Gen. Chen was “lying through his teeth.” But in an interview Friday with China Real Time, he said despite Gen. Chen’s tougher statements about the impact Taiwan arms sales have on Sino-U.S. relations, it might be possible for China and the U.S. to broker an agreement to ensure they can maintain military relations as the U.S. continues to sell weapons to Taiwan. “Gen. Chen’s trip to the U.S. has attracted much domestic Chinese attention, so he has to say something very tough on the Taiwan issue, to appease the many nationalists there,” he said. He added that it would be also be a significant loss of face for a Chinese representative not to bring up the matter: “The PRC (People’s Republic of China) has kept saying Taiwan is a part of China, and the U.S. has ignored the PRC and sold weapons systems…it’s kind of a humiliation to the PRC, they have to at least do something to protest.” But Mr. Lin said it was possible the two sides might come to a “tacit understanding” to maintain a military relationship while the U.S. sells some weapons to Taiwan. He added that could mean the U.S. would delay the sale of some weapons systems like diesel submarines or new F-16 C/Ds, both of which Taiwan covets. Still, he balked at Mr. Chen’s statement that some members of U.S. congress would consider reviewing the Taiwan Relations Act, which requires the U.S. to sell defensive weapons to Taiwan. “There could be compromise in terms of the items sold, but if it’s a compromise in terms of no more sales to Taiwan, that’s impossible….that would change the balance of power in East Asia and is not in America’s interest,” he said. –Paul Mozur
- Saul Loeb/Agence France-Presse/Getty Images
- U.S. Chairman of the Joint Chiefs of Staff Admiral Mike Mullen (L) and China’s Chief of the General Staff of the People’s Liberation Army General Chen Bingde shake hands after holding a joint press conference at the Pentagon in Washington, DC, May 18, 2011.
- Wally Santana/Associated Press
- n this Friday, Oct. 22, 2004, file photo, Taiwanese soldiers stand in front of one of Taiwan’s Patriot missile air defense systems on the northern coastal town of Wanli, Taiwan.
Over the past 60 years, China and Taiwan have hurled threats across the 100-mile-wide Taiwan Strait. But China’s People’s Liberation Army Chief of General Staff Chen Bingde found a new way to get Taiwan’s goat: downplay China’s threat to Taiwan.
At the first high-level military dialogue between the U.S. and China since military contact was derailed following the sale of $6 billion worth of weapons to Taiwan in January 2010, Gen. Chen denied that China had any missiles across from Taiwan, saying, “I can tell you here, responsibly, that we only have garrison deployment across from Taiwan and we do not have operational deployment, much less missiles stationed there.”
Experts and Taiwan’s Ministry of National Defense say China has more than 1,000 missiles targeted at Taiwan. While many of the missiles may not be “across from Taiwan,” they’re awfully close, as Mark Stokes, executive director of think tank Project 2049 Institute thoroughly chronicles in a recent blog post.
Taiwan’s top brass responded in kind, with Minister of National Defense Kao Hua-chu calling Gen. Chen’s statement “far from the truth.” He added, “In actuality China has been continuously increasing the number of missiles it has deployed along the coast.”
And lest anyone interpret Gen. Chen’s comments as an indication of an actual softening of China’s stance on Taiwan, the military leader also stressed that China’s position on the island hasn’t changed, and that further arms sales to Taiwan could impact U.S.-China relations.
In Taiwan’s legislature on Thursday, Lin Yu-fang, a legislator and senior member of Taiwan’s national defense committee, said Gen. Chen was “lying through his teeth.” But in an interview Friday with China Real Time, he said despite Gen. Chen’s tougher statements about the impact Taiwan arms sales have on Sino-U.S. relations, it might be possible for China and the U.S. to broker an agreement to ensure they can maintain military relations as the U.S. continues to sell weapons to Taiwan.
“Gen. Chen’s trip to the U.S. has attracted much domestic Chinese attention, so he has to say something very tough on the Taiwan issue, to appease the many nationalists there,” he said.
He added that it would be also be a significant loss of face for a Chinese representative not to bring up the matter: “The PRC (People’s Republic of China) has kept saying Taiwan is a part of China, and the U.S. has ignored the PRC and sold weapons systems…it’s kind of a humiliation to the PRC, they have to at least do something to protest.”
But Mr. Lin said it was possible the two sides might come to a “tacit understanding” to maintain a military relationship while the U.S. sells some weapons to Taiwan. He added that could mean the U.S. would delay the sale of some weapons systems like diesel submarines or new F-16 C/Ds, both of which Taiwan covets. Still, he balked at Mr. Chen’s statement that some members of U.S. congress would consider reviewing the Taiwan Relations Act, which requires the U.S. to sell defensive weapons to Taiwan.
“There could be compromise in terms of the items sold, but if it’s a compromise in terms of no more sales to Taiwan, that’s impossible….that would change the balance of power in East Asia and is not in America’s interest,” he said.
–Paul Mozur
In recent years, China has re-invigorated its support for leading state-owned enterprises in sectors it considers important to “economic security,” explicitly looking to foster globally competitive national champions.
The government vowed to continue reforming the economy and emphasized the need to increase domestic consumption in order to make China less dependent on foreign exports for GDP growth in the future.
China is the world’s fastest-growing major economy, with an average growth rate of 10% for the past 30 years.
Some economists believe that Chinese economic growth has been in fact understated during much of the 1990s and early 2000s, failing to fully factor in the growth driven by the private sector and that the extent at which China is dependent on exports is exaggerated.
The disparities between the two sectors have combined to form an economic-cultural-social gap between the rural and urban areas, which is a major division in Chinese society.
China has acquired some highly sophisticated production facilities through trade and also has built a number of advanced engineering plants capable of manufacturing an increasing range of sophisticated equipment, including nuclear weapons and satellites, but most of its industrial output still comes from relatively ill-equipped factories.
The market-oriented reforms China has implemented over the past two decades have unleashed individual initiative and entrepreneurship, whilst retaining state domination of the economy.
Both forums will start on Tuesday.
In this period the average annual growth rate stood at more than 50 percent.
China is aiming to be the world’s largest new energy vehicle market by 2020 with 5 million cars.
China’s challenge in the early 21st century will be to balance its highly centralized political system with an increasingly decentralized economic system.
Even with these improvements, agriculture accounts for only 20% of the nation’s gross national product.
China is the world’s largest producer of rice and wheat and a major producer of sweet potatoes, sorghum, millet, barley, peanuts, corn, soybeans, and potatoes.
Due to improved technology, the fishing industry has grown considerably since the late 1970s.
There are also extensive iron-ore deposits; the largest mines are at Anshan and Benxi, in Liaoning province.
China is among the world’s four top producers of antimony, magnesium, tin, tungsten, and zinc, and ranks second (after the United States) in the production of salt, sixth in gold, and eighth in lead ore.
The largest completed project, Gezhouba Dam, on the Chang (Yangtze) River, opened in 1981; the Three Gorges Dam, the world’s largest engineering project, on the lower Chang, is scheduled for completion in 2009.
Beginning in the late 1970s, changes in economic policy, including decentralization of control and the creation of special economic zones to attract foreign investment, led to considerable industrial growth, especially in light industries that produce consumer goods.
Other leading ports are rail termini, such as Lüshun (formerly Port Arthur, the port of Dalian), on the South Manchuria RR; and Qingdao, on the line from Jinan.
More here:
‘Lying Through His Teeth’: Taiwan Scoffs at China ‘No Missile’ Claim
China
Exploring the Revamped China Certified Emission Reduction (CCER) Program: Potential Benefits for International Businesses
Companies in China must navigate compliance, trading, and reporting within the CCER framework, impacting operations and strategic objectives. The program focuses on afforestation, solar, wind power, and mangrove creation, offering opportunities for innovation and revenue streams while ensuring transparency and accuracy. The Ministry of Ecology and Environment oversees the program.
As companies navigate the complexities of compliance, trading, and reporting within the CCER framework, they must also contend with the broader implications for their operations, finances, and strategic objectives.
This article explores the multifaceted impact of the CCER program on companies operating in China, examining both the opportunities for innovation and growth, as well as the potential risks and compliance considerations.
Initially, the CCER will focus on four sectors: afforestation, solar thermal power, offshore wind power, and mangrove vegetation creation. Companies operating within these sectors can register their accredited carbon reduction credits in the CCER system for trading purposes. These sectors were chosen due to their reliance on carbon credit sales for profitability. For instance, offshore wind power generation, as more costly than onshore alternatives, stands to benefit from additional revenue streams facilitated by CCER transactions.
Currently, primary buyers are expected to be high-emission enterprises seeking to offset their excess emissions and companies aiming to demonstrate corporate social responsibility by contributing to environmental conservation. Eventually, the program aims to allow individuals to purchase credits to offset their carbon footprints. Unlike the mandatory national ETS, the revamped CCER scheme permits any enterprise to buy carbon credits, thereby expanding the market scope.
The Ministry of Ecology and Environment (MEE) oversees the CCER program, having assumed responsibility for climate change initiatives from the National Development and Reform Commission (NDRC) in 2018. Verification agencies and project operators are mandated to ensure transparency and accuracy in disclosing project details and carbon reduction practices.
On the second day after the launch on January 23, the first transaction in China’s voluntary carbon market saw the China National Offshore Oil Corporation (CNOOC), the country’s largest offshore oil and gas producer, purchase 250,000 tons of carbon credits to offset its emissions.
This article is republished from China Briefing. Read the rest of the original article.
China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.
China
China Implements New Policies to Boost Foreign Investment in Science and Technology Companies
China’s Ministry of Commerce announced new policy measures on April 19, 2023, to encourage foreign investment in the technology sector. The measures include facilitating bond issuance, improving the investment environment, and simplifying procedures for foreign institutions to access the Chinese market.
On April 19, 2023, China’s Ministry of Commerce (MOFCOM) along with nine other departments announced a new set of policy measures (hereinafter, “new measures”) aimed at encouraging foreign investment in its technology sector.
Among the new measures, China intends to facilitate the issuance of RMB bonds by eligible overseas institutions and encourage both domestic and foreign-invested tech companies to raise funds through bond issuance.
In this article, we offer an overview of the new measures and their broader significance in fostering international investment and driving innovation-driven growth, underscoring China’s efforts to instill confidence among foreign investors.
The new measures contain a total of sixteen points aimed at facilitating foreign investment in China’s technology sector and improving the overall investment environment.
Divided into four main chapters, the new measures address key aspects including:
Firstly, China aims to expedite the approval process for QFII and RQFII, ensuring efficient access to the Chinese market. Moreover, the government promises to simplify procedures, facilitating operational activities and fund management for foreign institutions.
This article is republished from China Briefing. Read the rest of the original article.
China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.
China
Q1 2024 Brief on Transfer Pricing in Asia
Indonesia’s Ministry of Finance released Regulation No. 172 of 2023 on transfer pricing, consolidating various guidelines. The Directorate General of Taxes focuses on compliance, expanded arm’s length principle, and substance checks. Singapore’s Budget 2024 addresses economic challenges, operational costs, and sustainability, implementing global tax reforms like the Income Inclusion Rule and Domestic Top-up Tax.
Indonesia’s Ministry of Finance (MoF) has released Regulation No. 172 of 2023 (“PMK-172”), which prevails as a unified transfer pricing guideline. PMK-172 consolidates various transfer pricing matters that were previously covered under separate regulations, including the application of the arm’s length principle, transfer pricing documentation requirements, transfer pricing adjustments, Mutual Agreement Procedure (“MAP”), and Advance Pricing Agreements (“APA”).
The Indonesian Directorate General of Taxes (DGT) has continued to focus on compliance with the ex-ante principle, the expanded scope of transactions subject to the arm’s length principle, and the reinforcement of substance checks as part of the preliminary stage, indicating the DGT’s expectation of meticulous and well-supported transfer pricing analyses conducted by taxpayers.
In conclusion, PMK-172 reflects the Indonesian government’s commitment to addressing some of the most controversial transfer pricing issues and promoting clarity and certainty. While it brings new opportunities, it also presents challenges. Taxpayers are strongly advised to evaluate the implications of these new guidelines on their businesses in Indonesia to navigate this transformative regulatory landscape successfully.
In a significant move to bolster economic resilience and sustainability, Singapore’s Deputy Prime Minister and Minister for Finance, Mr. Lawrence Wong, unveiled the ambitious Singapore Budget 2024 on February 16, 2024. Amidst global economic fluctuations and a pressing climate crisis, the Budget strategically addresses the dual challenges of rising operational costs and the imperative for sustainable development, marking a pivotal step towards fortifying Singapore’s position as a competitive and green economy.
In anticipation of global tax reforms, Singapore’s proactive steps to implement the Income Inclusion Rule (IIR) and Domestic Top-up Tax (DTT) under the BEPS 2.0 framework demonstrate a forward-looking approach to ensure tax compliance and fairness. These measures reaffirm Singapore’s commitment to international tax standards while safeguarding its economic interests.
Transfer pricing highlights from the Singapore Budget 2024 include:
This article is republished from China Briefing. Read the rest of the original article.
China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.
- Exploring the Revamped China Certified Emission Reduction (CCER) Program: Potential Benefits for International Businesses
- China Implements New Policies to Boost Foreign Investment in Science and Technology Companies
- Q1 2024 Brief on Transfer Pricing in Asia
- New Report from Dezan Shira & Associates: China Takes the Lead in Emerging Asia Manufacturing Index 2024
- Is journalist Vicky Xu preparing to return to China?
- Guide for Foreign Residents: Obtaining a Certificate of No Criminal Record in China
