Day: February 4, 2024

China expands visa exemption policy to attract more foreigners

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China has expanded its visa-free entry policy for tourists and business travelers from more than a dozen European and Asian countries, opening up its borders further in recent months as it struggles to shore up foreign interests to help arrest an economic slowdown. In January, the Chinese government announced that it would provide unilateral visa exemption for Ireland and Switzerland and  introduce a mutual visa exemption for Singapore for 30 days. Additionally, from March 1, China and Thailand will also allow permanent visa exemption for citizens of both sides. In…

Government ‘appalled’ by suspended death sentence for Australian academic, Penny Wong says – video

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Foreign minister Penny Wong says Australian academic Yang Hengjun has received a suspended death sentence in China, an outcome that has ‘appalled’ the Australian government. ‘We understand that this can be committed to a life sentence following two years,’ Wong said. ‘We will be communicating our response in the strongest terms’ The Guardian

Lionel Messi angers Hong Kong after sitting out match

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Hong Kong’s government has expressed its “extreme disappointment” after Argentine football star Lionel Messi angered fans by sitting out of a long-anticipated exhibition game in the Chinese territory. Messi’s failure to play comes as Hong Kong struggles to rebuild its status as a global hub amid a sluggish post-pandemic economic recovery and a sweeping political crackdown by authorities in Beijing. Many of the more than 38,000 people who attended Sunday’s…

Australian academic Yang Hengjun given suspended death sentence by Chinese court

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Australian academic Yang Hengjun has been given a suspended death sentence by a Chinese court, after five years in detention on espionage charges. Yang was arrested in 2019 at Guangzhou airport, accused of spying for an undisclosed foreign country. The pro-democracy blogger is an Australian citizen who was born in China. Penny Wong, Australia’s foreign minister, said on Monday the government was “appalled by this decision”, and said they had called in the Chinese ambassador to lodge Canberra’s objection. Yang’s detention in China has been a key point of friction…

Japan ‘rushing’ to improve defense networks amid Chinese attack concerns

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Japan is currently inspecting classified defense networks of major government agencies that have been reportedly compromised by China and “rushing to come up with” countermeasures, according to media reports.  The U.S. daily The Washington Post reported last August that Chinese military hackers had infiltrated the Japanese government’s computer system handling defense secrets. At that time, Tokyo said it was “aware of the report,” but declined to comment.  But in a Monday report, Japan’s Yomiuri Shimbun said several government organizations handling classified information, agreed to inspect their systems and improve their…

Activist fund Elliott targets Japan’s biggest property group

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Elliott Management is calling for Japan’s biggest property group, Mitsui Fudosan, to launch a ¥1tn ($6.8bn) share buyback as the US activist fund targets the most prestigious end of the Tokyo stock market. Elliott’s demands — presented to top management within the past month — include a request that the company sell down its $3.6bn stake in Oriental Land, the company that runs Tokyo Disneyland, said people close to the…

China’s services activity expands at slower pace in January amid soft start to 2024

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China’s economy is struggling to regain momentum, facing multiple challenges including persistent deflationary pressures, a prolonged housing downturn and mounting local government debt. The government is drawing on a well-used playbook of using government debt to fund infrastructure to help lift the economy as consumers are wary of spending amid uncertainty on income. In January, new orders expanded at a slower pace with the index falling to 51.5 from 53.7 in December. Companies, hence, marginally increased headcount for the second consecutive month, said the survey. The prices charged subindex fell…

US Official Urges Papua New Guinea to Reject Chinese Security Deal

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Sydney —  A senior U.S. state department official urged Papua New Guinea (PNG) to turn down China’s offer of a potential security pact, warning the Pacific nation that any security guarantee with Beijing comes with consequences and costs. “We’ve seen that the Chinese commitment in defense or investment comes with a high cost. That’s what we’d say to PNG,” United States Deputy Secretary of State Richard Verma told the Sydney Morning Herald in an interview published on Monday local time. Papua New Guinea Foreign Minister Justin Tkachenko told Reuters last…