China’s special envoy to the UN, Geng Shuang, expressed support for Argentina’s claim on the Falklands Islands (known as the Malvinas in Argentina) and for a UN resolution calling on the UK and Argentina to resume negotiations about the island group’s future. Geng also called on countries [read: the UK] to abandon ‘colonial thinking’ which he linked to contemporary ‘hegemonism and power politics.’ The Malvinas/Falklands dispute has emerged as a point of bonding in the recent strengthening of Argentina-China relations. (SOUTH CHINA MORNING POST)
China will provide Pakistan with a one billion dollar emergency loan on Monday to bolster the South Asian country’s dwindling foreign exchange reserves. This is the second time in the past few months China has provided Pakistan with an economic lifeline after extending the repayment term of a $2 billion loan in March. (BLOOMBERG)
The commander of the Brazilian Navy Admiral Marcos Sampaio Olsen met in Brasilia on Friday with Secretary of the PLA Navy Yuan Huazhi to complain about Chinese illegal fishing in the Atlantic Ocean. The meeting marks the resumption of bilateral defense talks, postponed since 2020 due to the pandemic. (SOUTH CHINA MORNING POST)
Despite U.S. sanctions, Iranian crude exports and output have reached a new high for the year — with a lot of that oil making its way to China, according to experts. Iran last month produced more than three million barrels per day (bpd) or about 3% of global supply with exports up to almost two million bpd. (REUTERS)
China is exporting electricity to Vietnam for the first time since 2016. Vietnam is suffering blackouts due to drought hampering the generation of hydroelectric power. China Southern Power Grid Co will transfer 68 million KW of electricity to the Vietnamese grid from Guangxi province in a first phase of a recent deal. The two countries started connecting their grids in 2004, and China’s state media is now framing renewed energy cooperation as a basis for closer relations. (GLOBAL TIMES)
Volker Türk, the United Nations High Commissioner for Human Rights wants a first-time presence for the UNHCR in China and India, as both face increasing scrutiny on human rights issues. Neither Beijing nor New Delhi have commented. The push is likely to face resistance from China, especially following the many controversies around a report on its treatment of Uyghur populations by Türk’s predecessor, Michelle Bachelet. (REUTERS)
The Hong Kong Stock Exchange embarked on a landmark shift this week by listing stocks both in HK dollar and yuan. 24 major firms, including Tencent, Alibaba, the AIA Group and Xiaomi, are pioneering the dual counter model, which aims to bolster domestic investment by offering a yuan-denominated option. The move also represents another step towards the internationalization of the RMB. (SOUTH CHINA MORNING POST)
China National Petroleum Corporation signed a 27-year deal with QatarEnergy to buy at least 4 million tons of natural gas every year and take a 5% stake in Qatar’s North Field, the world’s biggest natural gas reserve. This is QatarEnergy’s second major Chinese gas deal in less than a year. It signed a similar 27-year deal with Sinopec last November. (AL JAZEERA)
Pakistan and China signed a $4.8 billion deal on Tuesday to build a 1,200-megawatt nuclear power plant in the central province of Punjab. Prime Minister Shehbaz Sharif thanked the Chinese for reducing the price by $100 million but he did not provide further details on how the project will be financed. (REUTERS)
Vice Minister for Commerce Wang Shouwen said China is “willing and capable” to join the the Asia-Pacific trade pact known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. While Beijing appears determined to join the group, Australia said it will block China’s admission so long as it maintains sanctions on some Australian products. (SOUTH CHINA MORNING POST)
China-India relations took another plunge due to China’s blocking of a UN process to sanction a prominent instigator of a massive 2008 terrorist attack in Mumbai. China earlier put a proposal led by the U.S. and India to sanction Sajid Mir (who lives in Pakistan) as a global terrorist on ‘technical hold,’ which it converted to a formal blocking this week. China allowed a similar process to sanction another Mumbai attacker who also lives in Pakistan to go forward earlier this year. (TIMES OF INDIA)
Tang Changan, China’s acting Consul General in Cape Town, called on the South African parliament to put pressure on its members not to engage with Taiwan. Speaking in the context of fomenting stronger government-to-government ties, Tang complained that Taiwanese officials keep inviting (especially opposition) MPs to events like Taiwanese National Day celebrations. South African officials said they can’t force MPs not to attend parties but proposed a parliamentary debate about the One China Principle instead. (NEWS24)
