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  • The latest contracts include a subway system for Serbia; an elevated rail line in Colombia among others.

    On Wednesday, China and the US signed the deal in Washington, raising hopes of improvement of trade ties between the two countries hit by the tit-for-tat tariff hikes of nearly half-a-trillion dollars worth of products. The deal was signed by Trump and Chinese Vice Premier and top trade negotiator Liu He at a special ceremony at the White House.

    Trade with BRI partner countries totalled 9.27 trillion yuan (about $1.34 trillion) in 2019, outpacing the country's aggregate trade growth by 7.4 percentage points. Touted as Chinese President Xi Jinping's pet project, the One Belt One Road initiative focuses on improving connectivity and cooperation among Asian countries, Africa, China and Europe.

    According to Myanmar government sources, Xi is expected to visit Naypyitaw, January 17-18. During his trip, the two sides are expected to sign several agreements covering the construction of the Kyaukphyu Special Economic Zone (SEZ) and border economic cooperation zones, , road upgrade projects, promotion of trade relations among others.

    The warship named Nanchang was commissioned by People's Liberation Army Navy (PLAN) in the port city of Qingdao, official media reported. Launched on June 28, 2017, the Type 055 destroyer is equipped with new air defence, anti-missile, anti-ship and anti-submarine weapons.

    Taiwan leader Tsai Ing-wen has won a second term, signaling strong voter support for her tough stance against China.

    China’s FAW Group aims to double its annual sales of Chairman Mao Zedong’s carmaker of choice, Hongqi, or Red Flag, to 200,000 units this year and grow them further to 1million cars in the next decade

    Wang Zhimin, the director of its liaison office in Hong Kong who coordinates between the local government of the former British colony and the central government in Beijing, has been replaced. Wang was replaced by Luo Huining, the former party boss of Shaanxi province, in the first major reshuffle of the office since the city became embroiled in anti-govt protests.

    Xi, speaking at a ceremony marking the 20th anniversary of Macau's handover to Chinese rule, heaped praise on the former Portuguese colony for its patriotism and loyalty but did not refer directly to six months of anti-government protests in the nearby former British colony of Hong Kong.

    The three-day Central Economic Work Conference headed by President Xi, which took place under shadow of the ongoing trade war with the US, concluded here on Thursday. The conference discussed economic targets for 2020, including gross domestic product (GDP) growth and inflation ahead of China's annual legislative session to be held in March.

    Providing an upbeat picture of the relations between the two militaries, which shared arduous and at times testing ties guarding the 3,488-km long LAC, Defence spokesman Col Wu Qian said the just concluded joint counter terrorism drills in India "showed the determination" of the two sides to protect the regional stability besides fighting terrorism.

    West Texas Intermediate was up 25 cents, also a 0.4 per cent gain, at $61.36 a barrel.

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