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BEIJING — Chinese authorities on Friday pledged new support for state-owned enterprises to enable them to buy unsold apartments, in an effort that could help developers get more funding to finish construction on pre-sold properties.
As the lawmakers flew to Pag-asa Island – the largest island in the Philippine-claimed Kalayaan Island Group within the contested Spratly Islands – on Thursday, they reported being challenged by Chinese forces who sent a radio message to their plane instructing them to leave what it claimed to be Beijing’s territory.
China and the US are competing for liquid real estate, undersea resources and military advantage among the South Pacific’s isolated island nations, a superpower contest to win influence over their economies, airstrips, seaports and security forces.
Chinese military personnel are visiting their Japanese counterparts this week, raising hopes of more stable bilateral relations or at least greater familiarity to manage any future crises. What it probably won’t do, however, is make any fundamental change in their East Asia stand-off.
President Vladimir V. Putin attended a trade fair on Friday in a northeastern Chinese city and toured a state-backed university famous for its cutting edge defense research, highlighting how economic and military ties between the countries have grown despite, or perhaps because of, Western pressure.
China’s gross domestic product (GDP) data is taking a backseat to strong tech company results that some reckon signal better days ahead for Xi Jinping’s mainly underperforming economy.
The U.S. would be better served by maintaining its open trade system rather than imposing new punitive duties on Chinese goods, the International Monetary Fund said on Thursday, adding that Washington and Beijing should work together to resolve their trade tensions.