China
China arrests more than 1,000 Tibetans protesting Chinese dam project
Police on Friday arrested more than 1,000 Tibetans, including monks from at least two local monasteries, in southwestern China’s Sichuan province after they protested the construction of a dam expected to destroy six monasteries and force the relocation of two villages, two sources from inside Tibet told Radio Free Asia.
The arrested individuals – both monks and local residents – are being held in various places throughout Dege county in Kardze Tibetan Prefecture because the police do not have a single place to detain them, said the sources who requested anonymity for safety reasons.
Those arrested have been forced to bring their own bedding and tsampa – a staple food for Tibetans that can be used to sustain themselves for long periods of time, the sources said.
“That police are asking Tibetans to bring their own tsampa and bedding is a sign that they will not be released anytime soon,” one of the sources said.
On Thursday, Feb. 22, Chinese authorities deployed specially trained armed police in Kardze’s Upper Wonto village region to arrest more than 100 Tibetan monks from Wonto and Yena monasteries along with local residents, many of whom were beaten and injured, and later admitted to Dege County Hospital for medical treatment, sources said.
Citizen videos from Thursday, shared exclusively with RFA, show Chinese officials in black uniforms forcibly restraining monks, who can be heard crying out to stop the dam construction.
Following news of the mass arrests, many Tibetans from Upper Wonto village who work in other parts of the country returned to their hometown and visited the detention centers to call for the release of the arrested Tibetans, sources said. They, too, were arrested.
The Dege County Hospital did not immediately return RFA’s requests for comment.
The Chinese Embassy in Washington hasn’t commented on the arrests other than in a statement issued Thursday that said the country respects the rule of law.
“China protects the legitimate rights and interests of Chinese nationals in accordance with the law,” the statement said.
Massive dam project
The arrests followed days of protests and appeals by local Tibetans since Feb. 14 for China to stop the construction of the Gangtuo hydropower station.
RFA reported on Feb. 15 that at least 300 Tibetans gathered outside Dege County Town Hall to protest the building of the Gangtuo dam, which is part of a massive 13-tier hydropower complex on the Drichu River with a total planned capacity 13,920 megawatts.
The dam project is on the Drichu River, called Jinsha in Chinese, which is located on the upper reaches of the Yangtze, one of China’s most important waterways.
Local Tibetans have been particularly distraught that the construction of the hydropower station will result in the forced resettlement of two villages – Upper Wonto and Shipa villages – and six key monasteries in the area – Yena, Wonto, and Khardho in Wangbuding township in Dege county, and Rabten, Gonsar and Tashi in the Tibetan Autonomous Region, sources told RFA.
Sources on Friday also confirmed that some of the arrested monks with poor health conditions were allowed to return to their monasteries.
However, the monasteries – which include Wonto Monastery, known for its ancient murals dating back to the 13th century – remained desolate on the eve of Chotrul Duchen, or the Day of Miracles, which is commemorated on the 15th day of the first month of the Tibetan New Year, or Losar, and marks the celebration of a series of miracles performed by the Buddha.
“In the past, monks of Wonto Monastery would traditionally preside over large prayer gatherings and carry out all the religious activities,” said one of the sources. “This time, the monasteries are quiet and empty. … It’s very sad to see such monasteries of historical importance being prepared for destruction. The situation is the same at Yena Monastery.”
Protests elsewhere
Tibetans in exile have been holding mass demonstrations in various parts of the world, including in Dharamsala, India, home to the exiled Tibetan spiritual leader, the Dalai Lama.
In the past week, Tibetans have demonstrated before the Chinese embassies, including those in New York and Switzerland, with more such protests and solidarity campaigns planned in Canada and other countries.
“The events in Derge are an example of Beijing’s destructive policies in Tibet,” said Kai Müller, managing director of the International Campaign for Tibet, in a statement on Friday. “The Chinese regime tramples on the rights of Tibetans and ruthlessly and irretrievably destroys valuable Tibetan cultural assets.”
“Beijing’s development and infrastructure projects are not only a threat to Tibetans, but also to regional security, especially when it comes to water supplies to affected Asian countries,” he added.
Human Rights Watch told RFA that it is monitoring the development but that information from inside Tibet is extremely rare given China’s tight surveillance and restrictions imposed on information flow.
“People who send information out and videos like this face imprisonment and torture,” said Maya Wang, the group’s interim China director.
“Even calling families in the diaspora are reasons for imprisonment,” she said. “What we do see now are actually … typical scenes of repression in Tibet, but we don’t often get to see [what] repression looks like in Tibet anymore.”
Additional reporting by Pelbar, Yeshi Dawa, Tashi Wangchuk, Palden Gyal and Sonam Lhamo for RFA Tibetan. Edited by Roseanne Gerin and Malcolm Foster.
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China
Understanding risks for Australia of China’s slowing economy is Chalmers’ top priority at upcoming Beijing talks
Treasurer Jim Chalmers will visit Beijing for the Australia-China Strategic Economic Dialogue, addressing economic ties, trade issues, and concerns regarding China’s investments in Australia amidst complex bilateral relations.
When Treasurer Jim Chalmers travels to Beijing later this month, he and his counterpart at China’s peak economic agency, the National Development and Reform Commission, won’t be short on important topics to discuss.
Chalmers will be attending the Australia-China Strategic Economic Dialogue, one part of a tripartite agreement secured by the Gillard government in 2013.
The purpose was to hold annual talks at the highest level. The agreement also includes a Leaders’ Dialogue and a Foreign and Strategic Dialogue involving the two countries’ foreign ministers.
Troubled times
The dialogue was last held in September 2017 as the state of official ties began turning south.
It was then formally suspended by Beijing in May 2021 after the Morrison government cancelled the Victorian state government’s Memorandum of Understanding to participate in China’s “belt and road initiative”.
Its resurrection has been slow in coming. The stabilisation in the bilateral relationship under the Albanese government has already seen reciprocal visits involving leaders and foreign ministers. But it was not until June the two sides signed a new memorandum to bring back the dialogue.
The fact Chalmers was able to confirm the trip last Sunday is another sign Canberra and Beijing remain committed to talking. This is despite there being numerous issues over which they are at odds.
Chalmers’ concerns
For the Treasurer, the priority will be getting a first-hand read on China’s struggling economy and the risks this presents to Australia’s own outlook.
When announcing the visit he alluded to one scenario his department was tracking that could see Commonwealth budget revenue take a $4.5 billion hit due to falling prices for key commodity exports, including iron ore and lithium.
Slowing Chinese growth and falling commodity prices are clearly not positives for Australian income, but Chalmers is unlikely to return in a state of panic.
The latest trade figures show China continuing to import Australian iron ore and lithium at record or near record volumes.
Despite slowing growth China is still importing large volumes of Australia’s iron ore.
Dean Lewins/AAP
This points to increasing supply and a lack of demand from other countries being at least as relevant in explaining recent price falls. And both are coming off extraordinary price spikes to now be approaching levels more in line with historical averages.
The impact of Chinese growth on its demand for Australian goods and services has also never been a simple, one-to-one relationship. That remains true today.
A complex relationship
Australian wine exports, for example, are booming after Beijing removed tariffs earlier this year.
China’s customs agencies put the value of imported Australian wine over the past three months at US$252 million, or around A$400 million. This topped the $A357 million sold over the past year to the US, Australia’s second largest customer.
Students from China are also commencing at Australian universities in record numbers, albeit this is likely to fall next year due to restrictions imposed by Canberra, not Beijing.
That China remains a stand-out market is reflected in the large numbers of businesses and politicians attending the Australia-China Business Council’s Canberra Networking Day on Thursday. Trade Minister Don Farrell, Foreign Minister Penny Wong, Shadow Trade Minister Kevin Hogan and Shadow Foreign Minister Simon Birmingham are all slated to give speeches.
Chalmers will also be keen to raise the lingering import ban Beijing imposed in 2020 affecting Australian lobsters. Trade Minister Don Farrell said in June he was “very confident that in the near future” the ban would be lifted. Chalmers’ visit might provide the occasion to announce a final resolution.
China’s concerns
For China, top of the list of concerns will be Australia’s treatment of Chinese investors, particularly in sectors like critical minerals. In the past they have been welcomed but since 2020 there’s been an apparent de-facto ban on further involvement.
A recent survey of Chinese businesses in Australia pointed to generally positive sentiment. Almost 80% said they were optimistic about the outlook of the local business environment. Still, while 72.5% did not consider they had experienced discriminatory treatment, 42.4% felt the enforcement of Australia’s laws and regulations lacked transparency.
It’s not hard to see why. When Chalmers was asked in an interview last Sunday whether or not he wanted “China’s investment in critical minerals processing in Australia”, he did not reply with a “no”. Nor did he provide even a qualified “yes”.
China will likely also be seeking reassurance Canberra will not join Washington and some other capitals usually regarded as geopolitically “like-minded” in putting up tariff barriers on Chinese imports.
This reassurance shouldn’t be difficult for Chalmers to provide. Unlike the US, Australia’s economic relationship with China remains overwhelmingly complementary. Last year, Australia’s exports to China exceeded imports by $110.7 billion.
And low-cost, high-quality imports from China, such as electric vehicles, would be welcomed by the government amid a cost-of-living crisis and the net zero transition.
Late last month, Chris Bowen, Australia’s Minister for Climate and Energy, hosted his Chinese counterpart for the 8th Australia-China Ministerial Dialogue on Climate Change in Sydney.
A bipartisan approach
Trade with China also enjoys bipartisan support. In March, Minister Farrell touted the potential for two-way trade to increase from $300 billion to $400 billion.
Not to be outdone, opposition leader Peter Dutton said in June he’d “love to see the trading relationship [with China] increase two-fold”.
Chalmers was on the money this week in stating Australia’s relationship with China is now “full of complexity and full of opportunity”. His upcoming trip can only help in managing the former and realising the latter.
This article is republished from The Conversation under a Creative Commons license. Read the original article.
China
Establishing a Family Office in Hong Kong
Hong Kong’s strategic location, strong financial infrastructure, and favorable tax regime make it a prime hub for family offices, with over 2,700 operating by 2023. Its evolution as a wealth management center supports effective family wealth transfer and management strategies.
Hong Kong’s strategic location, robust financial infrastructure, favorable tax regime, and high quality of life make it an ideal destination for establishing family offices, offering comprehensive support for wealth management and long-term family planning.
Hong Kong’s family office sector has seen remarkable growth, with a recent market study revealing that over 2,700 single-family offices were reportedly operating in the city as of December 31, 2023. This significant number highlights Hong Kong’s position as a global hub for family offices, complementing its long-standing reputation as an international center for asset and wealth management.
Historically, Hong Kong’s role in managing family wealth dates back to the late 1800s, and it has evolved into one of Asia’s largest cross-border wealth management centers. The recent surge in family offices can be attributed to the city’s strategic initiatives, including the development of a world-class family office regime. The Hong Kong government’s ongoing efforts to attract more family offices have led to new policies and incentives, reinforcing the city’s status as a premier destination for global family offices.
In this article, we explore the key factors that shape Hong Kong’s family office sector and a outline the steps to establish a family office in Hong Kong.
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A family office is a specialized entity designed to manage the wealth and needs of high-net-worth individuals and families. By consolidating investments and financial management under one roof, a family office provides greater control, transparency, and efficiency. This is particularly crucial as we approach a significant intergenerational wealth transfer, with an estimated US$8 trillion expected to change hands by 2029, according to Credit Suisse.
Family offices vary in structure, typically tailored to the specific needs of the family. Commonly, they involve a holding company or investment vehicles within a trust, centralizing financial operations and bringing dedicated expertise in-house. This setup also offers younger generations a platform to gain experience in investment management and business operations, preparing them to manage family wealth in the future.
This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, and India . Readers may write to info@dezshira.com for more support. |
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Business
China Stimulates Economic Growth Through New Policies – London Business News | Londonlovesbusiness.com
Chinese officials will report on policies aimed at boosting economic growth, focusing on structural optimization and sustainability post-National Day festivities, addressing challenges like the pandemic and trade tensions.
Key Economic Growth Policies
Senior officials from China’s National Development and Reform Commission (NDRC), led by Zheng Shanjie, will report on key economic growth policies this Tuesday. The conference will focus on implementing progressive measures aimed at revitalizing the economy and ensuring sustainable long-term development. Following a festive season, including National Day, authorities emphasize the importance of leveraging this period to invigorate economic activities.
Addressing Economic Challenges
China is currently facing significant challenges that threaten its status as the world’s second-largest economy. Factors such as the pandemic and international trade tensions have contributed to a recent economic slowdown. In response, the government has enacted measures like interest rate cuts and relaxed real estate market restrictions, aiming to boost essential sectors such as construction and consumption.
The Role of the NDRC
The NDRC plays a pivotal role in these policy implementations. By coordinating various measures, the agency seeks to balance short-term growth with structural optimization for future stability. As China navigates this critical juncture, the decisions made at the upcoming conference will be vital for ensuring economic resilience and positioning the nation as a global leader.
Source : China boosts economic growth with new policies – London Business News | Londonlovesbusiness.com