Partner Post – A New Great Game in Russia’s Backyard
As opposed to China’s Silk Road Economic Belt (SREB) project, the EEU is an institutionalized organization with an established legal framework and supranational governing body—the Eurasian Economic Commission. The major obstacle to cooperation between the two projects in Central Asia is the lack of common perspective between the EEU member states. First, Moscow is not used to working in multilateral formats in Asia (for example, Putin tends to skip the East Asia Summit, unlike his counterparts from the U.S., Australia and elsewhere). Second, Moscow tends to see the other EEU member states as passive junior partners: The statement on the connection of the two projects was signed by Russia on behalf of the whole union. China perceives a deep disunity in the organization and actively promotes bilateral cooperation with the EEU member states as well as the rest of Central Asia. Kazakhstan is the most impressive example, with a new “Nurly Zhol” economic program intended to become a part of SREB, as well as 129 economic agreements signed between Kazakhstan and China in 2015 alone, with a total value of $65 billion. (Young China Watchers)
China-Europe freight train to open new Moscow route byend of 2016
A new route of the China-Europe freight train, from Chengdu, Sichuan province to Moscow, Russia, is expected to open by the end of 2016. Tao Xun, the general manager of Chengdu Industry Investment Corporation, disclosed the plan at a promotional event on Nov. 2. For routes starting from Chengdu, nodes in Poland, as well as terminals in Germany and Netherland, have been established. The lines will expand to 10 more terminals, including Paris, Madrid and Milan. Meanwhile, overseas warehouses and affiliated agencies will setup in interior cities along the lines. Tao stated that future China-Europe freight routes will cover the economiccircles of the Yangtze River Delta, Pearl River Delta and Bohai Sea Rim, connecting withHong Kong, Macau, South Korea, Japan and other ASEAN nations. (People's Daily)
Latvia greets first trans-Eurasia cargo train from China
The first trans-Eurasia container train linking China and Latvia arrived here on Saturday afternoon, marking a milestone in the history of the two countries' cooperation in transport and logistics sectors.
The train departed on Oct. 20 from Yiwu, a vibrant manufacturing hub in east China, and finished a journey of over 11,000 km following the China-Russia-Latvia route. The containers were packed with small commodities made in Yiwu, mainly decorative items and souvenirs. "Riga is the destination of the train, but not of these commodities. After the arrival, they will be distributed to different eastern European or Scandinavian countries within one to three days". Latvia is the first Baltic nation to have established a direct rail freight route with China under the unified brand China Railway Express which refers to all rail routes connecting China and Europe, thanks to the country's position as a major transport and logistics transit in the region. (Chian Daily)
The train departed on Oct. 20 from Yiwu, a vibrant manufacturing hub in east China, and finished a journey of over 11,000 km following the China-Russia-Latvia route. The containers were packed with small commodities made in Yiwu, mainly decorative items and souvenirs. "Riga is the destination of the train, but not of these commodities. After the arrival, they will be distributed to different eastern European or Scandinavian countries within one to three days". Latvia is the first Baltic nation to have established a direct rail freight route with China under the unified brand China Railway Express which refers to all rail routes connecting China and Europe, thanks to the country's position as a major transport and logistics transit in the region. (Chian Daily)
Rail cargo service extends from Chengdu to Rotterdam.
A rail cargo line departing from Chengdu, capital of southwest China's Sichuan Province, has been extended to Rotterdam in the Netherlands. The service was extended from an existing line which connects Chengdu with the Dutch city of Tilburg, said Cheng Jie, vice manager of Chengdu International Railway Services Company. Trains depart from Chengdu to export mechanical and electric parts to Rotterdam, Europe's largest port. A single trip takes 13 days. China's.(Xinhua)
China launches US$11 billion fund for Central, Eastern Europe
China has set up a 10 billion euro (US$11.15 billion)investment fund to finance projects in Central and Eastern Europe, Industrial and Commercial Bank of China said in a statement issued on Sunday.
The China-Central Eastern Europe fund, , announced by Premier Li Keqiang during his visit to Riga on Saturday, will be run by Sino-CEE Financial Holdings Ltd, a company established by the bank earlier this year. The fund is aiming to raise 50 billion euros in project finance for sectors such as infrastructure, high-tech manufacturing and consumer goods, the bank said. Vice Commerce Minister Gao Yan said last year that Chinese companies have already invested more than US$5 billion in CEE countries. (Channel New Asia)
The China-Central Eastern Europe fund, , announced by Premier Li Keqiang during his visit to Riga on Saturday, will be run by Sino-CEE Financial Holdings Ltd, a company established by the bank earlier this year. The fund is aiming to raise 50 billion euros in project finance for sectors such as infrastructure, high-tech manufacturing and consumer goods, the bank said. Vice Commerce Minister Gao Yan said last year that Chinese companies have already invested more than US$5 billion in CEE countries. (Channel New Asia)
China Figures Reveal Cheapness of Turkmenistan Gas
Intriguing figures on China’s natural gas purchases reported by Russian state news agency TASS and relayed by website Eurasia Daily has shed some light on Turkmenistan’s current economic woes.
In the first nine months of 2016, China reportedly increased its overall imports of gas by 26.5 percent on the previous year, up to 71.6 billion cubic meters. The average price it paid for the fuel was $228 per 1,000 cubic meters, according to data reportedly collated by China’s General Administration of Customs. That was apparently $100 less than Beijing was paying last year. The cheapest gas of all, however, is coming from Turkmenistan, which reportedly sells its exports to China at a giveaway rate of $185 per 1,000 cubic meters. Turkmenistan sold China 23 billion cubic meters of gas over the reported period, accounting for 13 percent of what Beijing imported. (Eurasianet)
In the first nine months of 2016, China reportedly increased its overall imports of gas by 26.5 percent on the previous year, up to 71.6 billion cubic meters. The average price it paid for the fuel was $228 per 1,000 cubic meters, according to data reportedly collated by China’s General Administration of Customs. That was apparently $100 less than Beijing was paying last year. The cheapest gas of all, however, is coming from Turkmenistan, which reportedly sells its exports to China at a giveaway rate of $185 per 1,000 cubic meters. Turkmenistan sold China 23 billion cubic meters of gas over the reported period, accounting for 13 percent of what Beijing imported. (Eurasianet)
China's CITIC Bank will acquire controlling stake in Kazakhstan's Altyn Bank, according to MOU signed on Thur
CITIC Bank and the People's Bank of Kazakhstan signed a Memorandum of Understanding on the sale of shares in Kazakhstan's Prime Minister's Office Wednesday. According to the memorandum, the Chinese investor, led by CITIC Bank, intends to buy a 60% stake in its wholly-owned Altyn Bank from the People's Bank of Kazakhstan, the first Chinese joint-stock commercial bank to buy a bank in Kazakhstan. (Xinhua)
Li calls for stronger SCO security cooperation
CITIC Bank and the People's Bank of Kazakhstan signed a Memorandum of Understanding on the sale of shares in Kazakhstan's Prime Minister's Office Wednesday. According to the memorandum, the Chinese investor, led by CITIC Bank, intends to buy a 60% stake in its wholly-owned Altyn Bank from the People's Bank of Kazakhstan, the first Chinese joint-stock commercial bank to buy a bank in Kazakhstan. (Xinhua)
China vows better alignment of development strategies with Kazakhstan.
Chinese Premier Li Keqiang on Thursday pledged to better align its Silk Road EconomicBelt initiative with Kazakhstan's new economic policy of the Bright Road to usher in a newphase of bilateral cooperation. (People's Daily)
Chinese PM Visits Bishkek as Embassy Bombing Remains Unsolved
China's prime minister, on a visit to Bishkek, called the security situation in Central Asia "complicated and severe" and promised to deepen security cooperation with Kyrgyzstan. Li expressed his hope that Kyrgyzstan will speed up the investigation and handling of the incident, provide support and assistance, and take necessary measures to ensure the safety of Chinese staff posted in Kyrgyzstan, the Chinese news agency Xinhua reported. Li also visited the embassy to check on the reconstruction. Kyrgyzstan Prime Minister Sooronbay Jeenbekov in turn promised that Bishkek would "take all necessary measures to ensure the safety of the Chinese embassy and its staff" and "enhance cooperation with China in security law enforcement, fight the "three evil forces" of terrorism, separatism and extremism, and safeguard security and stability of the two countries and the region as a whole. This year China has been markedly stepping up its security activities in Central Asia, setting up a counterterror organization with Afghanistan, Pakistan, and Tajikistan; building border posts for Tajikistan; and carrying out its first-ever joint exercises in Tajikistan. Credible reports emerged this week of Chinese military forces operating in Afghanistan's remote Wakhan corridor, which borders China and Tajikistan. (Eurasia.net)
China's prime minister, on a visit to Bishkek, called the security situation in Central Asia "complicated and severe" and promised to deepen security cooperation with Kyrgyzstan. Li expressed his hope that Kyrgyzstan will speed up the investigation and handling of the incident, provide support and assistance, and take necessary measures to ensure the safety of Chinese staff posted in Kyrgyzstan, the Chinese news agency Xinhua reported. Li also visited the embassy to check on the reconstruction. Kyrgyzstan Prime Minister Sooronbay Jeenbekov in turn promised that Bishkek would "take all necessary measures to ensure the safety of the Chinese embassy and its staff" and "enhance cooperation with China in security law enforcement, fight the "three evil forces" of terrorism, separatism and extremism, and safeguard security and stability of the two countries and the region as a whole. This year China has been markedly stepping up its security activities in Central Asia, setting up a counterterror organization with Afghanistan, Pakistan, and Tajikistan; building border posts for Tajikistan; and carrying out its first-ever joint exercises in Tajikistan. Credible reports emerged this week of Chinese military forces operating in Afghanistan's remote Wakhan corridor, which borders China and Tajikistan. (Eurasia.net)
Xinhua: In Kyrgyzstan, Chinese direct investment soared more than seven-fold in the first half of this year, China's foreign trade with Turkmenistan grew from 7 billion U.S. dollars to 9.5 billion U.S. dollars during 2012-2015, and China has become the country's largest trade partner (Xinhua)
Li calls for stronger SCO security cooperation
Chinese Premier Li Keqiang on Thursday asked members of the Shanghai Cooperation Organization (SCO) to further strengthen their cooperation and coordination on security and boost the construction of regional anti-terrorism institutions and mechanisms. Li made the remarks at the 15th SCO prime ministers' meeting in Bishkek. During the meeting, the prime ministers signed over 10 cooperation documents coveringeconomy, technology, energy, finance, culture and other fields. (Xinhua)
China Suggests Free Trade Zone For the SCO. Russia says it would be “complicated.”
Premiers from across Eurasia were in Bishkek this week for the Shanghai Cooperation Organization heads of government meeting. Chinese Premier Li Keqiang reportedly said China was ready to discuss a free trade zone among the members. But Medvedev’s statement at the heads of government meeting highlighted the difficulty "given that any preferential regime always requires renunciation of internal decisions of one kind or another" (The Diplomat)
Spotlight: Li makes six-pronged proposal, charting course for SCO's future development
The 15th prime ministers' meeting of the Shanghai Cooperation Organization (SCO) concluded here Thursday with a six-pronged proposal by Chinese Premier Li Keqiang and a joint communique calling on its members to enhance practical cooperation in a wide range of fields including security, economic development and production capacity. (CCTV)
Shanghai Electric scores a transformative deal with its purchase of Pakistan power plant.
Shanghai Electric Power’s US$1.77 billion acquisition of a majority stake in Pakistan’s K-Electric is another example of Chinese power firms seeking overseas opportunities amid dimming prospect in the domestic market undergoing rapid deregulation, analysts say. Shanghai Electric Power said in its shareholders circular on the acquisition that it aims to double its operating scale in the five years to 2020, with the focus being nations along the One Belt, One Road. (SCMP)
MoU signed to boost Nepal-China trade
Nov 3, 2016- Nepal-China Executives Council, a non-profit organisation based in Nepal, and the Chinese government on Wednesday signed an agreement to work in collaboration to promote bilateral trade and investment. The Memorandum of Understanding signed with the Department of Commerce (DoC) of the Chinese province of Yunnan is expected to help both the countries to share information on trade, tourism and investment, and explore investment opportunities in both the countries. (Kathmandu Post)
China Suggests Free Trade Zone For the SCO. Russia says it would be “complicated.”
Premiers from across Eurasia were in Bishkek this week for the Shanghai Cooperation Organization heads of government meeting. Chinese Premier Li Keqiang reportedly said China was ready to discuss a free trade zone among the members. But Medvedev’s statement at the heads of government meeting highlighted the difficulty "given that any preferential regime always requires renunciation of internal decisions of one kind or another" (The Diplomat)
Spotlight: Li makes six-pronged proposal, charting course for SCO's future development
The 15th prime ministers' meeting of the Shanghai Cooperation Organization (SCO) concluded here Thursday with a six-pronged proposal by Chinese Premier Li Keqiang and a joint communique calling on its members to enhance practical cooperation in a wide range of fields including security, economic development and production capacity. (CCTV)
Shanghai Electric scores a transformative deal with its purchase of Pakistan power plant.
Shanghai Electric Power’s US$1.77 billion acquisition of a majority stake in Pakistan’s K-Electric is another example of Chinese power firms seeking overseas opportunities amid dimming prospect in the domestic market undergoing rapid deregulation, analysts say. Shanghai Electric Power said in its shareholders circular on the acquisition that it aims to double its operating scale in the five years to 2020, with the focus being nations along the One Belt, One Road. (SCMP)
MoU signed to boost Nepal-China trade
Nov 3, 2016- Nepal-China Executives Council, a non-profit organisation based in Nepal, and the Chinese government on Wednesday signed an agreement to work in collaboration to promote bilateral trade and investment. The Memorandum of Understanding signed with the Department of Commerce (DoC) of the Chinese province of Yunnan is expected to help both the countries to share information on trade, tourism and investment, and explore investment opportunities in both the countries. (Kathmandu Post)
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