China’s bull run on bonds triggers fresh warning from central bank amid record-low yields
By Frank Chen
With the yields of Chinese government bonds slipping to record lows, China’s central bank has issued a stern warning to financial organisations to step up compliance efforts and mitigate risks, amid an intensified crackdown on bond-trading irregularities.
Overly aggressive bond trading will not be tolerated, the People’s Bank of China said in a meeting on Wednesday, warning some institutions to be more mindful of interest rate risks, according to the Financial News, a publication under the central bank.
Stressing that the PBOC was taking a “zero tolerance” approach, the report said other requirements include improving investment-research capabilities and making more prudent bond investments while complying with the law.
The admonition was the latest in a series of warnings and actions taken in recent months. But China’s 10-year bond yield has continued its extended slump, hitting a record low this month as investors scramble for safe-haven options such as ultra-long-term bonds. Meanwhile, China’s policymakers are engaged in a concerted effort to cool China’s bond-market rally amid the nation’s economic slowdown.
“It is possible to see intervention to arrest the fall in bond yields following such stern verbal warnings, but it may not change the structural trend unless there is a clear sign of economic recovery,” said Gary Ng, senior economist for Asia-Pacific thematic research at French investment bank Natixis in Hong Kong.
“The bearish investors’ sentiment, and the expectation of lower interest rates, have continued to attract money into the bond market. However, regulators may be concerned that quick moves can also pose financial risks,” Ng said.
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By Frank Chen
With the yields of Chinese government bonds slipping to record lows, China’s central bank has issued a stern warning to financial organisations to step up compliance efforts and mitigate risks, amid an intensified crackdown on bond-trading irregularities.
Overly aggressive bond trading will not be tolerated, the People’s Bank of China said in a meeting on Wednesday, warning some institutions to be more mindful of interest rate risks, according to the Financial News, a publication under the central bank.
Stressing that the PBOC was taking a “zero tolerance” approach, the report said other requirements include improving investment-research capabilities and making more prudent bond investments while complying with the law.
The admonition was the latest in a series of warnings and actions taken in recent months. But China’s 10-year bond yield has continued its extended slump, hitting a record low this month as investors scramble for safe-haven options such as ultra-long-term bonds. Meanwhile, China’s policymakers are engaged in a concerted effort to cool China’s bond-market rally amid the nation’s economic slowdown.
“It is possible to see intervention to arrest the fall in bond yields following such stern verbal warnings, but it may not change the structural trend unless there is a clear sign of economic recovery,” said Gary Ng, senior economist for Asia-Pacific thematic research at French investment bank Natixis in Hong Kong.
“The bearish investors’ sentiment, and the expectation of lower interest rates, have continued to attract money into the bond market. However, regulators may be concerned that quick moves can also pose financial risks,” Ng said.
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Russian man gets 20 years in jail for trying to poison troops fighting Ukraine
By Agence France-Presse
A Russian military tribunal has sentenced a man to 20 years in prison for having tried to poison troops in support of Ukraine, the FSB security service said on Wednesday.
The tribunal found the man, a resident of the city of Barnaul in the Altai region of Siberia, guilty of “attempted assault” and “attempted high treason” and sentenced him to 20 years in prison, the RIA Novosti state news agency quoted the FSB as saying in a statement.
“This Russian citizen, born in 1981, entered into contact with Ukrainian special services via social media” and expressed his “desire to support Ukrainian armed forces”, the statement said.
“As an employee of a canteen, he tried to poison the soldiers who were part of a mobilised contingent in the Altai”, filming the process for the Ukrainian special forces, it said.
Analyses showed that the substance that he put in the food could have caused acute poisoning and could have been fatal, it said.
The case is the latest in a long line of Russians handed heavy prison sentences for allegedly supporting Ukraine after Moscow sent troops into its neighbour in February 2022.
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By Agence France-Presse
A Russian military tribunal has sentenced a man to 20 years in prison for having tried to poison troops in support of Ukraine, the FSB security service said on Wednesday.
The tribunal found the man, a resident of the city of Barnaul in the Altai region of Siberia, guilty of “attempted assault” and “attempted high treason” and sentenced him to 20 years in prison, the RIA Novosti state news agency quoted the FSB as saying in a statement.
“This Russian citizen, born in 1981, entered into contact with Ukrainian special services via social media” and expressed his “desire to support Ukrainian armed forces”, the statement said.
“As an employee of a canteen, he tried to poison the soldiers who were part of a mobilised contingent in the Altai”, filming the process for the Ukrainian special forces, it said.
Analyses showed that the substance that he put in the food could have caused acute poisoning and could have been fatal, it said.
The case is the latest in a long line of Russians handed heavy prison sentences for allegedly supporting Ukraine after Moscow sent troops into its neighbour in February 2022.
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EU leaders set to avoid direct accusation over Chinese role in Russia’s war in Ukraine
By Finbarr Bermingham
European Union leaders will avoid directly calling out China over Russia’s war in Ukraine at a major summit this week, according to a draft statement seen by the Post.
Beijing’s relations with Moscow are a cause for much concern in European capitals, and in recent weeks anxiety has been stoked further by evidence disseminated by one EU member state that indicates a factory in Xinjiang has been making drones for Russia’s military.
But while directly arming Russia has been repeatedly described as a “red line” by the European Council, which represents the 27 member governments, has chosen not to open a new front with Beijing in a week that the EU sanctioned Chinese companies over their role in the war for the first time.
“The European Council strongly condemns support by third countries, and actors and entities therein, which enable Russia to sustain its war of aggression against Ukraine,” read a draft statement negotiated by representatives of the 27 states.
“The arms transfers and deepening military cooperation between Russia and the DPRK [North Korea] and Iran, as well as the deployment of the DPRK’s military forces to Russia and their use on the battlefield against Ukraine represent an international escalation of the war, with serious consequences for international peace and security,” the statement continued.
The text could change before Thursday’s summit, where the issue is expected to be discussed, but sources said the language was acceptable to all capitals. It said the council “urges all countries to immediately cease any direct or indirect assistance to Russia in its war of aggression against Ukraine”.
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By Finbarr Bermingham
European Union leaders will avoid directly calling out China over Russia’s war in Ukraine at a major summit this week, according to a draft statement seen by the Post.
Beijing’s relations with Moscow are a cause for much concern in European capitals, and in recent weeks anxiety has been stoked further by evidence disseminated by one EU member state that indicates a factory in Xinjiang has been making drones for Russia’s military.
But while directly arming Russia has been repeatedly described as a “red line” by the European Council, which represents the 27 member governments, has chosen not to open a new front with Beijing in a week that the EU sanctioned Chinese companies over their role in the war for the first time.
“The European Council strongly condemns support by third countries, and actors and entities therein, which enable Russia to sustain its war of aggression against Ukraine,” read a draft statement negotiated by representatives of the 27 states.
“The arms transfers and deepening military cooperation between Russia and the DPRK [North Korea] and Iran, as well as the deployment of the DPRK’s military forces to Russia and their use on the battlefield against Ukraine represent an international escalation of the war, with serious consequences for international peace and security,” the statement continued.
The text could change before Thursday’s summit, where the issue is expected to be discussed, but sources said the language was acceptable to all capitals. It said the council “urges all countries to immediately cease any direct or indirect assistance to Russia in its war of aggression against Ukraine”.
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Over half of Hongkongers experience depression, highest level in 7 years: survey
By Fan Chen
Over half of Hongkongers experience depressive symptoms, the highest level in seven years, with dissatisfaction over government policies and the economic downturn being the greatest cause of residents’ unhappiness, a poll has found.
According to a survey of 1,093 adults by HK. WeCare, a platform established under non-profit Wofoo Social Enterprises, over 20 per cent of residents experienced “moderate” depressive symptoms while over 35 per cent experienced “moderately severe to severe” effects.
In addition, more than 10 per cent of respondents reported feeling down, depressed, or hopeless “almost every day”.
The city’s happiness index dropped to 5.63 out of 10 – the lowest level in seven years – with those aged 35 to 44 scoring the lowest among all age groups.
“Depression is a contagious disease,” lawmaker Tik Chi-yuen of the centrist political party Third Side, said.
“I feel that this mood in Hong Kong is now having a very serious radiating effect.”
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By Fan Chen
Over half of Hongkongers experience depressive symptoms, the highest level in seven years, with dissatisfaction over government policies and the economic downturn being the greatest cause of residents’ unhappiness, a poll has found.
According to a survey of 1,093 adults by HK. WeCare, a platform established under non-profit Wofoo Social Enterprises, over 20 per cent of residents experienced “moderate” depressive symptoms while over 35 per cent experienced “moderately severe to severe” effects.
In addition, more than 10 per cent of respondents reported feeling down, depressed, or hopeless “almost every day”.
The city’s happiness index dropped to 5.63 out of 10 – the lowest level in seven years – with those aged 35 to 44 scoring the lowest among all age groups.
“Depression is a contagious disease,” lawmaker Tik Chi-yuen of the centrist political party Third Side, said.
“I feel that this mood in Hong Kong is now having a very serious radiating effect.”
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Ex-Hong Kong beauty queen fears for third pet dog after 2 die by poisoning
By Harvey Kong
A former Hong Kong beauty queen has said her third and sole surviving dog is at risk of “bleeding out” after the animal was believed to have licked poison-laced meat that had killed the pageant winner’s two other canines.
Miss Hong Kong 2020 winner Lisa-Marie Tse Ga-ye told her social media followers on Tuesday evening she had discovered that her pet dog Leo had urinated blood while walking home, with a vet revealing the animal had ingested traces of poison.
“The poison in his body and his blood now can’t clot. So for the next few weeks, until we can get that fixed, we have to be very careful as he is at risk of bleeding out,” she wrote.
“So although he is still there, he isn’t safe yet. The nightmare seems to not be ending.”
Tse also wrote that she had spent Tuesday afternoon with Leo and had noticed he was bleeding as they walked home. The former beauty winner rushed her dog to a vet, who suspected the dog had licked some of the poison, she added.
A day earlier, Tse wrote on social media that her two other dogs had died after she took the trio for a walk in She Shan village in Lam Tsuen on Sunday.
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By Harvey Kong
A former Hong Kong beauty queen has said her third and sole surviving dog is at risk of “bleeding out” after the animal was believed to have licked poison-laced meat that had killed the pageant winner’s two other canines.
Miss Hong Kong 2020 winner Lisa-Marie Tse Ga-ye told her social media followers on Tuesday evening she had discovered that her pet dog Leo had urinated blood while walking home, with a vet revealing the animal had ingested traces of poison.
“The poison in his body and his blood now can’t clot. So for the next few weeks, until we can get that fixed, we have to be very careful as he is at risk of bleeding out,” she wrote.
“So although he is still there, he isn’t safe yet. The nightmare seems to not be ending.”
Tse also wrote that she had spent Tuesday afternoon with Leo and had noticed he was bleeding as they walked home. The former beauty winner rushed her dog to a vet, who suspected the dog had licked some of the poison, she added.
A day earlier, Tse wrote on social media that her two other dogs had died after she took the trio for a walk in She Shan village in Lam Tsuen on Sunday.
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Jimmy Lai maintains UK had ‘moral responsibility’ towards Hongkongers
By Brian Wong
Former media owner Jimmy Lai Chee-ying has maintained the British government had a “moral responsibility” to offer citizenship to Hongkongers, while denying the move constituted a hostile response to Beijing’s imposition of the national security law on the city.
Lai on Wednesday also dismissed a contention that he advocated American interference with his comments on closer US-Taiwan ties in a live broadcast interview, adding he did not want a full-scale war between mainland China and the self-ruling island.
The founder of the now-defunct Apple Daily newspaper was testifying at West Kowloon Court for the 20th day in his marathon national security trial. The 77-year-old stands accused of conspiracy to collude with foreign forces and of publishing seditious materials.
Lai, in an episode of the online broadcast series “Live Chat with Jimmy Lai” dated September 10, 2020, appeared to praise the United Kingdom’s decision to suspend its extradition agreement with Hong Kong and grant the right of abode to millions of British National (Overseas) passport holders from the city.
British political activist Benedict Rogers, who appeared on the episode as a guest, said he expected “other measures” to follow “in the months to come”, adding his nation should “lead the international community on this”.
In reply, Lai appealed to “our old colonial government” to take up the “moral responsibility” of drawing other governments’ attention to Hong Kong “at this time of disaster”.
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By Brian Wong
Former media owner Jimmy Lai Chee-ying has maintained the British government had a “moral responsibility” to offer citizenship to Hongkongers, while denying the move constituted a hostile response to Beijing’s imposition of the national security law on the city.
Lai on Wednesday also dismissed a contention that he advocated American interference with his comments on closer US-Taiwan ties in a live broadcast interview, adding he did not want a full-scale war between mainland China and the self-ruling island.
The founder of the now-defunct Apple Daily newspaper was testifying at West Kowloon Court for the 20th day in his marathon national security trial. The 77-year-old stands accused of conspiracy to collude with foreign forces and of publishing seditious materials.
Lai, in an episode of the online broadcast series “Live Chat with Jimmy Lai” dated September 10, 2020, appeared to praise the United Kingdom’s decision to suspend its extradition agreement with Hong Kong and grant the right of abode to millions of British National (Overseas) passport holders from the city.
British political activist Benedict Rogers, who appeared on the episode as a guest, said he expected “other measures” to follow “in the months to come”, adding his nation should “lead the international community on this”.
In reply, Lai appealed to “our old colonial government” to take up the “moral responsibility” of drawing other governments’ attention to Hong Kong “at this time of disaster”.
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Syria-Xinjiang link: China warns leaders in Damascus not to threaten security elsewhere
By Zhao Ziwen
A top Chinese envoy has warned Damascus’s new government not to support terrorism as a Syria-based Islamic militant group sent messages to Muslims in China’s Xinjiang region, urging them to wage attacks.
“The Syrian territory must not be used to support terrorism or threaten the security of other countries,” Geng Shuang, China’s deputy permanent representative to the United Nations, said on Tuesday.
Addressing the UN briefing on Syria, Geng said China “attaches high importance” to Syria’s drastic changes, and called on all parties concerned in Syria to exercise calm and restraint, refrain from actions that might escalate the situation, and prevent new conflicts.
“It is imperative to stabilise the security situation,” he said.
But the ambassador reiterated China’s long-pursued non-interference policy in Syria’s internal affairs, saying Beijing respected the choices made by the Syrian people.
Earlier on Tuesday, Foreign Minister Wang Yi said at a symposium that China opposed terrorist forces taking advantage of the situation in Syria to create chaos, and would help Syria “safeguard its sovereignty and restore stability”.
Geng’s comment came days after the Turkestan Islamic Party (TIP) published a propaganda video encouraging Muslims in the Xinjiang Uygur autonomous region to wage jihad, or holy war, in China.
The video, published by Islam Awazi, the group’s official propaganda outlet, urged Muslims across the world to wage jihad “to elevate Allah’s religion and to live under Islamic justice”.
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By Zhao Ziwen
A top Chinese envoy has warned Damascus’s new government not to support terrorism as a Syria-based Islamic militant group sent messages to Muslims in China’s Xinjiang region, urging them to wage attacks.
“The Syrian territory must not be used to support terrorism or threaten the security of other countries,” Geng Shuang, China’s deputy permanent representative to the United Nations, said on Tuesday.
Addressing the UN briefing on Syria, Geng said China “attaches high importance” to Syria’s drastic changes, and called on all parties concerned in Syria to exercise calm and restraint, refrain from actions that might escalate the situation, and prevent new conflicts.
“It is imperative to stabilise the security situation,” he said.
But the ambassador reiterated China’s long-pursued non-interference policy in Syria’s internal affairs, saying Beijing respected the choices made by the Syrian people.
Earlier on Tuesday, Foreign Minister Wang Yi said at a symposium that China opposed terrorist forces taking advantage of the situation in Syria to create chaos, and would help Syria “safeguard its sovereignty and restore stability”.
Geng’s comment came days after the Turkestan Islamic Party (TIP) published a propaganda video encouraging Muslims in the Xinjiang Uygur autonomous region to wage jihad, or holy war, in China.
The video, published by Islam Awazi, the group’s official propaganda outlet, urged Muslims across the world to wage jihad “to elevate Allah’s religion and to live under Islamic justice”.
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Hong Kong police arrest 25 people in 3 years over university entry fraud cases
By William Yiu
Hong Kong police arrested 25 people in almost three years for allegedly defrauding universities with bogus academic qualifications, leading to three convictions among the eight charged.
The Security Bureau said on Wednesday police had also forwarded the information of 14 suspicious agencies and intermediaries to mainland Chinese authorities as of Thursday last week. The bureau said joint law enforcement actions would be carried out in due course.
Acting security minister Michael Cheuk Hau-yip told legislators 25 people had been arrested on suspicion of using false academic qualifications to apply for spots in Hong Kong tertiary institutions since January 2022.
Eight of them were charged. Three of those facing prosecution were found guilty. Cheuk said the five others facing charges were released on bail pending their trials.
The maximum penalty handed down in the cases was 17 weeks in jail.
The cases of 17 other suspects are still pending.
Cheuk said immigration authorities had taken action against those convicted.
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By William Yiu
Hong Kong police arrested 25 people in almost three years for allegedly defrauding universities with bogus academic qualifications, leading to three convictions among the eight charged.
The Security Bureau said on Wednesday police had also forwarded the information of 14 suspicious agencies and intermediaries to mainland Chinese authorities as of Thursday last week. The bureau said joint law enforcement actions would be carried out in due course.
Acting security minister Michael Cheuk Hau-yip told legislators 25 people had been arrested on suspicion of using false academic qualifications to apply for spots in Hong Kong tertiary institutions since January 2022.
Eight of them were charged. Three of those facing prosecution were found guilty. Cheuk said the five others facing charges were released on bail pending their trials.
The maximum penalty handed down in the cases was 17 weeks in jail.
The cases of 17 other suspects are still pending.
Cheuk said immigration authorities had taken action against those convicted.
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Priyanka Gandhi’s bag expressing support for Palestine kicks off political furore in India
By Biman Mukherji
Priyanka Gandhi Vadra, scion of India’s powerful Nehru-Gandhi family, has set off a political firestorm by carrying a bag to parliament expressing support for Palestine, drawing criticism from members of the ruling Hindu nationalist Bharatiya Janata Party (BJP), who accuse her of trying to appease Muslims.
Gandhi’s bag had the word Palestine emblazoned on it and featured a watermelon, a symbol of solidarity with Palestinians. She previously made social media comments condemning Israel’s actions in Gaza as a “horrific genocide”.
Authorities in Gaza reported that, as of Monday, more than 45,000 people have been killed by Israel’s attacks on the enclave in the last 14 months, most of whom were civilians.
Abed Elrazeg Abu Jazer, Charge D’Affaires at the Palestinian Embassy in India, recently met with Gandhi to congratulate her on her election win in Wayanad, southern India, which allowed her to make her parliamentary debut in the ongoing winter session.
Manoj Tewari, a member of parliament from the BJP, slammed Gandhi’s gesture as “appeasement” of Muslim minorities.
“They don’t do anything good for the Muslim community. They use different agendas to get votes. Now, the people of the country know this trick,” he was quoted as saying by local media.
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By Biman Mukherji
Priyanka Gandhi Vadra, scion of India’s powerful Nehru-Gandhi family, has set off a political firestorm by carrying a bag to parliament expressing support for Palestine, drawing criticism from members of the ruling Hindu nationalist Bharatiya Janata Party (BJP), who accuse her of trying to appease Muslims.
Gandhi’s bag had the word Palestine emblazoned on it and featured a watermelon, a symbol of solidarity with Palestinians. She previously made social media comments condemning Israel’s actions in Gaza as a “horrific genocide”.
Authorities in Gaza reported that, as of Monday, more than 45,000 people have been killed by Israel’s attacks on the enclave in the last 14 months, most of whom were civilians.
Abed Elrazeg Abu Jazer, Charge D’Affaires at the Palestinian Embassy in India, recently met with Gandhi to congratulate her on her election win in Wayanad, southern India, which allowed her to make her parliamentary debut in the ongoing winter session.
Manoj Tewari, a member of parliament from the BJP, slammed Gandhi’s gesture as “appeasement” of Muslim minorities.
“They don’t do anything good for the Muslim community. They use different agendas to get votes. Now, the people of the country know this trick,” he was quoted as saying by local media.
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Malaysian influencer Kim Seri says she’s ready to face jail over South Korea travel fiasco
By The Star
Malaysian social media influencer Kim Seri has issued a public apology and promised to refund customers affected by issues arising from her South Korea travel packages, pledging to settle the matter by or before February 1, 2025.
Kim Seri took to Instagram to express that she is doing her best to resolve the situation.
She said that documents would be provided to all customers who had previously made bookings.
“First of all, I would like to sincerely apologise for all the concerns and difficulties I have caused.
“I ask for your understanding that, at this moment, I am unable to issue refunds in one go.
“However, I assure you that I will resolve this issue through a repayment plan, where all outstanding amounts will be paid by or before February 1, 2025,” she said.
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By The Star
Malaysian social media influencer Kim Seri has issued a public apology and promised to refund customers affected by issues arising from her South Korea travel packages, pledging to settle the matter by or before February 1, 2025.
Kim Seri took to Instagram to express that she is doing her best to resolve the situation.
She said that documents would be provided to all customers who had previously made bookings.
“First of all, I would like to sincerely apologise for all the concerns and difficulties I have caused.
“I ask for your understanding that, at this moment, I am unable to issue refunds in one go.
“However, I assure you that I will resolve this issue through a repayment plan, where all outstanding amounts will be paid by or before February 1, 2025,” she said.
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China’s food delivery platforms enforce breaks for riders clocking more gig economy hours
By Wency Chen
China’s two major on-demand delivery service providers, Meituan and Ele.me, have introduced new features that alert or forcibly log out couriers who work excessively long hours, aiming to prevent rider fatigue.
In a similar system imposed on China’s long-haul truck drivers, Meituan has been piloting a “fatigue management” system in select cities. This system detects prolonged working hours through the courier app, prompting riders to take a break after a certain amount of time, typically longer than 12 hours, one Meituan worker told the Post. If the suggestion is ignored, the app will eventually require the rider to go offline.
Its competitor Ele.me, owned by Alibaba Group Holding, has also adopted a “fatigue reminder” and warning system for its riders. Alibaba owns the South China Morning Post.
The platforms are introducing the alert system as food delivery crew, along with Uber-style taxi drivers, bear the brunt of China’s economic slowdown and weakened consumer spending, forcing them to work extremely long hours to make ends meet.
The Meituan employee with knowledge of the matter, who asked not to be named because the details are not public, said once a rider reaches 12 hours, staff can “send reminders, force logouts, or stop assigning orders”.
“Meituan is listening to feedback from all parties, including riders, and continues to explore and improve our fatigue prevention mechanisms,” the company said in a statement to the Post.
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By Wency Chen
China’s two major on-demand delivery service providers, Meituan and Ele.me, have introduced new features that alert or forcibly log out couriers who work excessively long hours, aiming to prevent rider fatigue.
In a similar system imposed on China’s long-haul truck drivers, Meituan has been piloting a “fatigue management” system in select cities. This system detects prolonged working hours through the courier app, prompting riders to take a break after a certain amount of time, typically longer than 12 hours, one Meituan worker told the Post. If the suggestion is ignored, the app will eventually require the rider to go offline.
Its competitor Ele.me, owned by Alibaba Group Holding, has also adopted a “fatigue reminder” and warning system for its riders. Alibaba owns the South China Morning Post.
The platforms are introducing the alert system as food delivery crew, along with Uber-style taxi drivers, bear the brunt of China’s economic slowdown and weakened consumer spending, forcing them to work extremely long hours to make ends meet.
The Meituan employee with knowledge of the matter, who asked not to be named because the details are not public, said once a rider reaches 12 hours, staff can “send reminders, force logouts, or stop assigning orders”.
“Meituan is listening to feedback from all parties, including riders, and continues to explore and improve our fatigue prevention mechanisms,” the company said in a statement to the Post.
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Owners of Hong Kong properties with illegal additions cannot ‘buy their way out’
By Edith Lin
Hong Kong’s development minister has warned that property owners cannot “buy their way out” of taking down large-scale illegal structures, such as basements and enclosed rooftops, by making payments or getting safety certifications.
Secretary for Development Bernadette Linn Hon-ho issued the warning as she briefed a meeting of the Legislative Council’s development panel on Wednesday about proposed amendments to the Buildings Ordinance.
“I do not want the next generation to think that they can buy their way out of the law,” she said. “The unauthorised structures are not necessarily safe after an inspection either.”
In September of last year, record-breaking rainfall revealed how some of the city’s wealthiest residents living at Redhill Peninsula had expanded their homes through unauthorised add-ons.
The discovery prompted authorities to propose amendments to the ordinance to clamp down on the illegal practice.
Suggestions from the Development Bureau include raising the maximum penalty to HK$300,000 (US$38,600) and two years in prison for owners who refuse to comply with removal orders issued for “serious” unauthorised structures.
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By Edith Lin
Hong Kong’s development minister has warned that property owners cannot “buy their way out” of taking down large-scale illegal structures, such as basements and enclosed rooftops, by making payments or getting safety certifications.
Secretary for Development Bernadette Linn Hon-ho issued the warning as she briefed a meeting of the Legislative Council’s development panel on Wednesday about proposed amendments to the Buildings Ordinance.
“I do not want the next generation to think that they can buy their way out of the law,” she said. “The unauthorised structures are not necessarily safe after an inspection either.”
In September of last year, record-breaking rainfall revealed how some of the city’s wealthiest residents living at Redhill Peninsula had expanded their homes through unauthorised add-ons.
The discovery prompted authorities to propose amendments to the ordinance to clamp down on the illegal practice.
Suggestions from the Development Bureau include raising the maximum penalty to HK$300,000 (US$38,600) and two years in prison for owners who refuse to comply with removal orders issued for “serious” unauthorised structures.
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Philippines and India hold first maritime talks – are territorial rows with China at play?
By Sam Beltran
The Philippines and India have agreed to explore naval collaborations during their inaugural maritime dialogue, with both countries reaffirming their commitment to a rules-based international order amid their ongoing territorial disputes with China.
Analysts view the talks as part of Manila’s push to expand its defence partnerships beyond its traditional allies and New Delhi’s desire to increase its regional clout as it manages its border dispute with Beijing.
On Friday, Philippine and Indian officials concluded their inaugural Track 1 maritime dialogue in Manila, which followed a series of engagements between both sides to strengthen maritime cooperation, including the fifth India-Philippines Joint Defence Cooperation Committee in September.
India and the Philippines reaffirmed their commitment to “multilateralism and the rules-based international order” and “exchanged perspectives on prevailing maritime challenges and discussed ways to enhance maritime cooperation in furthering a conducive environment for mutual growth and global well-being,” the Philippines’ Department of Foreign Affairs said in a statement.
The statement also notes that both parties “reached an understanding to look further into navy and coastguard cooperation”.
On the legal front, both countries agreed to uphold the importance of the UN Convention on the Law of the Sea (UNCLOS) in settling maritime disputes among countries and the 2016 arbitration award at The Hague, which ruled in favour of the Philippines in its territorial dispute against China and deemed Beijing’s historical nine-dash-line claim over nearly the entire South China Sea as invalid.
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By Sam Beltran
The Philippines and India have agreed to explore naval collaborations during their inaugural maritime dialogue, with both countries reaffirming their commitment to a rules-based international order amid their ongoing territorial disputes with China.
Analysts view the talks as part of Manila’s push to expand its defence partnerships beyond its traditional allies and New Delhi’s desire to increase its regional clout as it manages its border dispute with Beijing.
On Friday, Philippine and Indian officials concluded their inaugural Track 1 maritime dialogue in Manila, which followed a series of engagements between both sides to strengthen maritime cooperation, including the fifth India-Philippines Joint Defence Cooperation Committee in September.
India and the Philippines reaffirmed their commitment to “multilateralism and the rules-based international order” and “exchanged perspectives on prevailing maritime challenges and discussed ways to enhance maritime cooperation in furthering a conducive environment for mutual growth and global well-being,” the Philippines’ Department of Foreign Affairs said in a statement.
The statement also notes that both parties “reached an understanding to look further into navy and coastguard cooperation”.
On the legal front, both countries agreed to uphold the importance of the UN Convention on the Law of the Sea (UNCLOS) in settling maritime disputes among countries and the 2016 arbitration award at The Hague, which ruled in favour of the Philippines in its territorial dispute against China and deemed Beijing’s historical nine-dash-line claim over nearly the entire South China Sea as invalid.
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China’s dominance in global shipbuilding strengthens amid surging global demand
By Ralph JenningsFrank Chen
China, the world’s largest shipbuilder by market share, is expected to receive a raft of new orders as the global industry enters a renaissance, analysts said.
Demand for new ships is expected to surge over the next few years, as shipping companies have a “pressing need” to replace ageing vessels and comply with new environmental regulations, according to Min Joo Kang and Rico Luman, economists at the financial firm ING.
And China is set to be the main beneficiary of this market upswing, with its primary competitor South Korea likely to take a more “cautious” approach by focusing on profitable and reliable orders, the economists said in a research note released on Monday.
“Over the past two years, we have seen some previously closed shipyards in China reopen and start picking up orders again,” the analysis said. “The largest fraction of the fleet eligible for replacement consists of bulk carriers, which are predominantly built by Chinese shipyards.
“This could drive a stronger need for investment expansion in China.”
London and Shanghai-based industrial consultancy Hartland Shipping Services has also predicted sustained growth for the entire sector, with the prospects particularly bright for Chinese shipyards.
In October, market demand for new-build container ships reached its highest level since the second quarter of 2021, the peak of the last wave of global shipbuilding, the company said in a report published that month.
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By Ralph JenningsFrank Chen
China, the world’s largest shipbuilder by market share, is expected to receive a raft of new orders as the global industry enters a renaissance, analysts said.
Demand for new ships is expected to surge over the next few years, as shipping companies have a “pressing need” to replace ageing vessels and comply with new environmental regulations, according to Min Joo Kang and Rico Luman, economists at the financial firm ING.
And China is set to be the main beneficiary of this market upswing, with its primary competitor South Korea likely to take a more “cautious” approach by focusing on profitable and reliable orders, the economists said in a research note released on Monday.
“Over the past two years, we have seen some previously closed shipyards in China reopen and start picking up orders again,” the analysis said. “The largest fraction of the fleet eligible for replacement consists of bulk carriers, which are predominantly built by Chinese shipyards.
“This could drive a stronger need for investment expansion in China.”
London and Shanghai-based industrial consultancy Hartland Shipping Services has also predicted sustained growth for the entire sector, with the prospects particularly bright for Chinese shipyards.
In October, market demand for new-build container ships reached its highest level since the second quarter of 2021, the peak of the last wave of global shipbuilding, the company said in a report published that month.
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2 firms to work with Hong Kong’s PolyU on new drone take-off forecast tool
By Jiang Chuqin
Two companies have signed a memorandum with Hong Kong Polytechnic University to release a drone take-off probability forecast tool next year and develop anti-jamming technology for the devices, following the cancellation of two highly anticipated shows over the National Day holiday due to meteorological factors.
The Drone Takeoff Reliability Index, which will consider multiple factors including weather, drone status and the operating environment, is designed to provide a standardised indicator of the success rate for scheduled drone shows.
“It is like a weather forecast and we can tell the public in advance about what the chances are to see a successful drone show,” Wen Weisong, assistant professor at PolyU’s department of aeronautical and aviation engineering, said at a memorandum signing ceremony on Wednesday to mark the collaboration.
Under the memorandum, Wen and other researchers in his department will work with two drone companies to examine the potential factors that can affect drone safety and develop an algorithm to forecast take-off probability.
The team will also explore new technologies to enhance the reliability of drone shows, including methods to improve the anti-jamming capacity of drones, so they can receive satellite signals amid interference.
Local drone show operator X Social Group and another major industry player, Shenzhen Damoda Intelligent Control Technology, will share their data and experimental results with the researchers.
Samuel Lam Hon-yuen, CEO of X Social Group, said that a similar measure already existed within the industry for reference. However, with the support of PolyU, the new index will be more robust and authoritative, enabling organisers to make informed decisions about whether a show needs to be cancelled in advance.
via SCMP Full Text Feed
By Jiang Chuqin
Two companies have signed a memorandum with Hong Kong Polytechnic University to release a drone take-off probability forecast tool next year and develop anti-jamming technology for the devices, following the cancellation of two highly anticipated shows over the National Day holiday due to meteorological factors.
The Drone Takeoff Reliability Index, which will consider multiple factors including weather, drone status and the operating environment, is designed to provide a standardised indicator of the success rate for scheduled drone shows.
“It is like a weather forecast and we can tell the public in advance about what the chances are to see a successful drone show,” Wen Weisong, assistant professor at PolyU’s department of aeronautical and aviation engineering, said at a memorandum signing ceremony on Wednesday to mark the collaboration.
Under the memorandum, Wen and other researchers in his department will work with two drone companies to examine the potential factors that can affect drone safety and develop an algorithm to forecast take-off probability.
The team will also explore new technologies to enhance the reliability of drone shows, including methods to improve the anti-jamming capacity of drones, so they can receive satellite signals amid interference.
Local drone show operator X Social Group and another major industry player, Shenzhen Damoda Intelligent Control Technology, will share their data and experimental results with the researchers.
Samuel Lam Hon-yuen, CEO of X Social Group, said that a similar measure already existed within the industry for reference. However, with the support of PolyU, the new index will be more robust and authoritative, enabling organisers to make informed decisions about whether a show needs to be cancelled in advance.
via SCMP Full Text Feed
Hong Kong group urges rigorous investigation into worker’s death at barracks
By Winnie Wong
A workers’ rights concern group in Hong Kong has urged the government to be rigorous in its investigation into a fatal industrial accident involving a labourer who was found on the roof of a building at Shek Kong Barracks.
Fay Siu Sin-man, chief executive of the Association for the Rights of Industrial Accident Victims, said on Wednesday the employer and the venue bore responsibility.
She also called for better communication between companies and their staff. The female worker, 67, was reportedly only found on Tuesday after her daughter declared her missing.
“Why can’t there be closer communication between employers and employees?” Siu said. “It is far from ideal to have family members involved in searching for fellow family members.”
The Labour Department has said it is aware of the case and has launched an investigation.
Siu urged authorities to be thorough in their investigation and to disclose more information about the case.
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By Winnie Wong
A workers’ rights concern group in Hong Kong has urged the government to be rigorous in its investigation into a fatal industrial accident involving a labourer who was found on the roof of a building at Shek Kong Barracks.
Fay Siu Sin-man, chief executive of the Association for the Rights of Industrial Accident Victims, said on Wednesday the employer and the venue bore responsibility.
She also called for better communication between companies and their staff. The female worker, 67, was reportedly only found on Tuesday after her daughter declared her missing.
“Why can’t there be closer communication between employers and employees?” Siu said. “It is far from ideal to have family members involved in searching for fellow family members.”
The Labour Department has said it is aware of the case and has launched an investigation.
Siu urged authorities to be thorough in their investigation and to disclose more information about the case.
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China’s ‘Food Silk Road’ holds key to thwarting Trump tariffs
By Genevieve Donnellon-May
As US president-elect Donald Trump threatens heavy tariffs on Chinese goods, China – the world’s largest food producer and importer – is struggling to secure its food supply. Grappling with volatile global markets, a crucial question arises: can China ensure food security given its growing reliance on food imports?
The answer lies in Beijing’s ambitious “Food Silk Road”. This ongoing strategy aims to diversify food and fertiliser imports through four aspects: overseas agricultural investment and acquisitions, infrastructure development, technology transfers and policy coordination. By diversifying import sources and strengthening strategic partnerships, it aims to safeguard China’s long-term food security by reducing the country’s vulnerability to risks such as trade disruptions.
Food security has long been a concern for the Chinese authorities. Amid changing geopolitical dynamics, climate change, trade disruptions and domestic challenges, China has prioritised food security and boosting local agricultural production.
Driven by the increasingly complex and fractured geopolitical environment, the strategy’s importance has soared in recent years. China has adopted a dual strategy for food security: maintaining self-sufficiency in staples (such as rice) and key protein (such as pork) through local production while relying on global markets for non-staples (such as soybeans).
Despite efforts to increase local output, significant issues including arable land and water constraints make it an uphill battle. Adding to concerns, China’s food self-sufficiency ratio has plummeted, from 93.6 per cent in 2000 to 65.8 per cent in 2020. In 2004, China moved from being a net exporter to a net importer and is expected to remain one.
Food import reliance has come at a steep price. Policymakers in Beijing remain concerned about supply chain vulnerabilities and the weaponisation of imported food supplies. Their worries are well-founded. During Trump’s first term, Washington imposed tariffs on US$370 billion worth of Chinese goods. Beijing’s retaliation of tariffs of up to 25 per cent on key agricultural exports from the United States such as soybeans further highlighted the risks of such dependency.
via SCMP Full Text Feed
By Genevieve Donnellon-May
As US president-elect Donald Trump threatens heavy tariffs on Chinese goods, China – the world’s largest food producer and importer – is struggling to secure its food supply. Grappling with volatile global markets, a crucial question arises: can China ensure food security given its growing reliance on food imports?
The answer lies in Beijing’s ambitious “Food Silk Road”. This ongoing strategy aims to diversify food and fertiliser imports through four aspects: overseas agricultural investment and acquisitions, infrastructure development, technology transfers and policy coordination. By diversifying import sources and strengthening strategic partnerships, it aims to safeguard China’s long-term food security by reducing the country’s vulnerability to risks such as trade disruptions.
Food security has long been a concern for the Chinese authorities. Amid changing geopolitical dynamics, climate change, trade disruptions and domestic challenges, China has prioritised food security and boosting local agricultural production.
Driven by the increasingly complex and fractured geopolitical environment, the strategy’s importance has soared in recent years. China has adopted a dual strategy for food security: maintaining self-sufficiency in staples (such as rice) and key protein (such as pork) through local production while relying on global markets for non-staples (such as soybeans).
Despite efforts to increase local output, significant issues including arable land and water constraints make it an uphill battle. Adding to concerns, China’s food self-sufficiency ratio has plummeted, from 93.6 per cent in 2000 to 65.8 per cent in 2020. In 2004, China moved from being a net exporter to a net importer and is expected to remain one.
Food import reliance has come at a steep price. Policymakers in Beijing remain concerned about supply chain vulnerabilities and the weaponisation of imported food supplies. Their worries are well-founded. During Trump’s first term, Washington imposed tariffs on US$370 billion worth of Chinese goods. Beijing’s retaliation of tariffs of up to 25 per cent on key agricultural exports from the United States such as soybeans further highlighted the risks of such dependency.
via SCMP Full Text Feed
Outrage as scholar asks how can China make women ‘obediently, submissively have children’
By Phoebe Zhang
A Chinese professor has sparked a public backlash after he asked a visiting Kazakh diplomat how to make Chinese women “have children obediently, early and in large numbers” at a think tank event.
Wang Xianju, a professor at Renmin University and a former counsellor at the Chinese embassy in Belarus, was speaking to Erlan Qarin, the state counsellor of Kazakhstan, who visited the university in November.
Qarin had given a speech on Kazakhstan’s domestic reforms and relations between the two countries at an event hosted by the Chongyang Institute for Financial Studies, a think tank based at the university.
The institute published Wang’s remarks on its WeChat account in November but the article only gained online traction – and criticism – this week. It has since been deleted.
During the question-and-answer period, Wang said he was surprised to find there were many children when he visited Kazakhstan.
He said Kazakhstan apparently had effective policies encouraging births, and he wondered how that might be possible, given that Chinese women did not want to get married and have children, and would not listen to their parents or supervisors.
“I even heard that women in Kazakhstan immediately have children after they graduate college, they have children one after another,” Wang said in a now-deleted WeChat article by the think tank.
“How could they listen to you and obediently, submissively have children, have children early and have lots of children?”
via SCMP Full Text Feed
By Phoebe Zhang
A Chinese professor has sparked a public backlash after he asked a visiting Kazakh diplomat how to make Chinese women “have children obediently, early and in large numbers” at a think tank event.
Wang Xianju, a professor at Renmin University and a former counsellor at the Chinese embassy in Belarus, was speaking to Erlan Qarin, the state counsellor of Kazakhstan, who visited the university in November.
Qarin had given a speech on Kazakhstan’s domestic reforms and relations between the two countries at an event hosted by the Chongyang Institute for Financial Studies, a think tank based at the university.
The institute published Wang’s remarks on its WeChat account in November but the article only gained online traction – and criticism – this week. It has since been deleted.
During the question-and-answer period, Wang said he was surprised to find there were many children when he visited Kazakhstan.
He said Kazakhstan apparently had effective policies encouraging births, and he wondered how that might be possible, given that Chinese women did not want to get married and have children, and would not listen to their parents or supervisors.
“I even heard that women in Kazakhstan immediately have children after they graduate college, they have children one after another,” Wang said in a now-deleted WeChat article by the think tank.
“How could they listen to you and obediently, submissively have children, have children early and have lots of children?”
via SCMP Full Text Feed
