Posted by qqq47660 > 2023-10-13 11:33 | Report Abuse

U look at all the anti China stuffs idq post.

What is the meaning of all that propaganda?

Posted by qqq47660 > 2023-10-13 11:34 | Report Abuse

The reality is just the opposite

The reality is China has a very good and very responsible government that the people are proud of.

Posted by IDQWE001 > 2023-10-13 11:38 | Report Abuse

CCP Short on Funds: Local Governments Push Civil Servants to Lend for ‘Survival’

https://youtu.be/Ftz21gvhUBY?si=97QB2TRi6MIGR_1a

Posted by EngineeringProfit > 2023-10-13 11:40 | Report Abuse

NO, China never convert anyone to be communist. Just China doesn't want its people to indulge in theistic fiction or fall for phophetic fallacy

Posted by foongsh > 2023-10-13 11:47 | Report Abuse

Posted by IDQWE001 > 8 minutes ago | Report Abuse

CCP Short on Funds: Local Governments Push Civil Servants to Lend for ‘Survival’

https://youtu.be/Ftz21gvhUBY?si=97QB2TRi6MIGR_1a

CCP just want to convert everyone to be negative assets and bad debts through unfinished units. Lol.

Posted by qqq47660 > 2023-10-13 11:47 | Report Abuse

NO, China never convert anyone's to be communist. Just China doesn't want its people to indulge in theistic fiction or fall for phophetic fallacy


+++++


And a very important tool is the media. China has a media that is free from fake news and don't like to comment on other people. China likes it's media to help the government to rule the country like giving positive news not negative news. It's good to have a united people with positive attitudes.

Posted by qqq47660 > 2023-10-13 11:49 | Report Abuse

U look at this foong...u live thousands of miles away. U know the real China meh?

Posted by qqq47660 > 2023-10-13 11:50 | Report Abuse

Setting policies for China they have the CPC.


Who are u anyway?

Posted by qqq47660 > 2023-10-13 11:52 | Report Abuse

U cannot even be kind enough to call them by their proper name in English which is CPC.

Posted by IDQWE001 > 2023-10-13 11:56 | Report Abuse

China's Country Garden warns it could fail to pay offshore debt obligations

HONG KONG (Reuters) -China's Country Garden Holdings said it might not be able to meet all of its offshore payment obligations when due or within the relevant grace periods, as the country's largest private property developer grapples with debt restructuring.

"Such non-payment may lead to relevant creditors of the Group demanding acceleration of payment of the relevant indebtedness owed to them or pursuing enforcement action," the company said in a Hong Kong Stock Exchange filing on Tuesday.

The group is currently facing "significant" uncertainty regarding disposing of its assets and its cash position remains under pressure, added the developer, which has $10.96 billion of offshore bonds and 42.4 billion yuan ($5.81 billion) worth of loans not denominated in yuan.

Companies accounting for 40% of Chinese home sales - mostly private property developers - have defaulted on debt obligations since a liquidity crisis hit the sector in 2021, leaving many homes unfinished.

The problems have deepened in the past two years as confidence in housing and capital markets dried up, further squeezing developers' liquidity.

Country Garden said it had appointed Houlihan Lokey (NYSE:HLI), China International Capital Corporation (CICC) and law firm Sidley Austin as advisers to examine its capital structure and liquidity position.

Morningstar analyst Jeff Zhang said mandating advisers showed "whether the company will default hinges on the outcome of overseas debt restructuring and the next two weeks will be crucial."

"We do not expect Country Garden's liquidity to materially improve as homebuyers and financial institutions may continue to stay on the sidelines," he said.

The company was due on Monday to pay $66.8 million in coupons on 2024 and 2026 dollar bonds, although the payments have a 30-day grace period.

Country Garden has not disclosed whether the coupon payment was made. It did not make a principal payment of HK$470 million ($60.04 million) on certain debts, it said in the filing, without providing further details.

The developer had been working towards announcing a restructure of its offshore debt, Chinese media reported on Monday.

Country Garden faces another big test next week when its entire offshore debt could be deemed in default if it fails to pay a $15 million September coupon by Oct. 17.

ONSHORE RESTRUCTURING

Country Garden said on Tuesday it had won approval from onshore bondholders for the extension of nine series of bonds with an outstanding principal value of 14.7 billion yuan ($2.02 billion), which it said provided it "with the time and space to focus on the recovery of its business operations."

The developer's shares rose 3% in early trading on Tuesday, having lost nearly 70% of their value since the start of the year.

"The company's previous model was not sustainable, they are now addressing it, trying to scale down their debt burden and make their business size appropriate," said Sandra Chow, CreditSight's co-head of Asia Pacific research.

"There is a smaller property market overall and it makes sense to adapt to that," she said, adding that a restructure would look to extend debt maturity repayments, reduce bond coupon rates and accelerate asset sales.

Country Garden said it would make "its best effort to ensure the delivery of properties, which is the group's most critical corporate responsibility and is the key pillar to safeguard the property market."

China's government has recently implemented a range of measures from reducing deposit requirements to cutting existing mortgage rates in some cities to help renew confidence among home buyers to support the property market.

"The difficult situation shows that Chinese developers face severe liquidity pressure from weak home sales, and repayment to bondholders is still a lower priority," said Gary Ng, senior economist at Natixis Corporate and Investment Bank.

"More developers will try to extend and restructure their debt to mitigate the stress, but how fast it can be is still a big question mark."

CCP's "changes not seen for hundred years" - real estate bubble burst only created by CCP

Posted by IDQWE001 > 2023-10-13 11:57 | Report Abuse

Chinese developer SCE Group seeks offshore debt restructuring after default

HONG KONG: China SCE Group said on Wednesday a non-payment on a syndicated loan has triggered a default under its dollar bonds and it would explore a holistic solution to all its debt.

The Xiamen-based company is the latest to join a long list of Chinese property developers who have defaulted their offshore debt and begun a restructuring process. But only a handful have announced restructuring terms so far.

China Evergrande Group, in the centre of the sector's debt crisis, said last week its main unit in China was unable to issue new debt due to an ongoing investigation, complicating its restructuring plan that creditors were originally scheduled to vote on this month.

The market is also watching if China's largest private developer Country Garden will avoid a default again mid-this month, by making $15 million coupon payment before the grace period ends.

Posted by IDQWE001 > 2023-10-13 11:57 | Report Abuse

Evergrande chairman investigated over offshore asset transfers - WSJ

China Evergrande (HK:3333) Group Chairman Hui Ka Yan is being investigated on suspicion of transferring assets offshore while the indebted property developer struggles to complete unfinished projects, the Wall Street Journal reported on Monday.

Evergrande has been working to get creditors' approval to restructure its offshore debt but the process grew more complicated last week when the company said it could not issue new debt due to an investigation into its main China unit.

Adding to the embattled developer's woes, it said on Friday that its chairman was under police watch and was suspected of committing unspecified crimes.

Reuters reported last week that a group of offshore creditors was planning to join a court petition to liquidate the developer if it did not submit a new debt restructuring plan by the end of October.

Posted by IDQWE001 > 2023-10-13 12:00 | Report Abuse

Changes not seen for hundred years - entire real estate market bubble burst.

Changes not seen for hundred years - more and more developer founders go to jail.

Changes not seen for hundred years - homebuyers no home to stay with bad debts.

Posted by qqq47660 > 2023-10-13 13:02 | Report Abuse

https://www.youtube.com/watch?v=Wqm9Yl1gGEY&t=1980s

Posted by IDQWE001 > 2023-10-13 13:05 | Report Abuse

Changes not seen for hundred years - many ministers gone missing worse than 3rd world ISA

Changes not seen for hundred years - too many jobless rate until close book

Posted by IDQWE001 > 2023-10-13 13:09 | Report Abuse

China considers new stabilization fund to prop up stock market - Bloomberg News

(Reuters) - China is considering creating a state-backed stabilization fund to shore up confidence in its equity markets, Bloomberg News reported on Thursday.

Financial regulators, including the China Securities Regulatory Commission (CSRC), recently submitted a preliminary plan to the country's top leadership after at least two rounds of consultation with industry participants over several months, the report said citing people familiar with the matter.

The plan calls for the fund to have access to total capital of up to hundreds of billions of yuan, the report said, adding that implementation details have not been finalized and there could be a chance the proposal will be scrapped.

This move comes as China's "Big Four" state banks said late on Wednesday that their controlling state parent shareholder Central Huijin Investment bought their Shanghai-traded shares, and plans to further increase its holdings in the next six months.

Don't just lip service CCP need his supporters to stabilise its stock markets.

Posted by qqq47660 > 2023-10-13 14:40 | Report Abuse

captal controls affect the very rich and the criminals.

the CPC rules for country and for the people, in particular the poor people.

Posted by EngineeringProfit > 2023-10-13 15:00 | Report Abuse

China Boleh!

Posted by qqq47660 > 2023-10-13 15:04 | Report Abuse

China surely have the right to have its own policies without outsiders criticizing.

Posted by IDQWE001 > 2023-10-13 16:35 | Report Abuse

China trust firm Zhongrong exposed to struggling property developers: Report

Troubled Chinese trust firm Zhongrong has lent money to several of the country's struggling property developers, the Financial Times reported on Sunday (Sep 17) citing its analysis of legal and company filings.

Zhongrong International Trust is a giant of China's US$3 trillion shadow finance industry and has recently missed payments of some trust products on time.

The Financial Times (FT) report said links between Zhongrong and property developers have fuelled fears of spillover effects from a slowdown in the real estate sector.

Legal filings from 2022 and 2023 examined by the FT show Zhongrong has pursued more than 8.7 billion yuan (US$1.20 billion) in claims against Sunac, which defaulted in 2022 and reached an offshore debt restructuring plan in March. It is unclear what, if any, settlement Zhongrong reached with Sunac, the report said.

Zhongrong did not respond to a request for comment on the report.

Zhongrong delayed payments on two products due in March 2021 and April 2022, according to a disclosure in April from textile chemicals company Zhejiang Jihua, the report said, adding that, Chinese state media reports linked the products to real estate projects developed by China Fortune Land Development and Sunac, respectively.

Zhongrong Trust's real estate investment exposure accounted for 10.7 per cent of its total assets under management as of the end of 2022, higher than the industry average of 5.8 per cent, according to a report from Citigroup.

Zhongrong said on Friday that it was unable to make payments on some trust products on time. The company has already missed payments on dozens of investment products since the end of July, according to investor sources.

Posted by IDQWE001 > 2023-10-13 16:37 | Report Abuse

How bad could China’s property crisis get?
Country Garden is on the edge of default. Here is a worst-case scenario

Households across China have been thrown into panic over the past week. The company building their flats, Country Garden, missed $22.5m in coupon payments on August 6th. Now the firm, one of the world’s largest homebuilders, has until early September to make the payments or follow hundreds of other developers into default and restructuring. Trading in its bonds, which are worth just pennies on the dollar, was halted on August 14th.

Officials across the country are watching closely. Country Garden is renowned for its huge projects in China’s second- and third-tier cities. The firm’s debts are smaller than those of Evergrande, a big, heavily indebted company that defaulted in 2021. But at the start of the year Country Garden was building four times more homes than Evergrande was before it defaulted. At the rate Country Garden was delivering them in the first half of 2022, at least 144,000 buyers will not receive homes they were promised by the end of this year. A sudden debt meltdown at the firm would leave even more families out in the cold.

Posted by IDQWE001 > 2023-10-13 16:38 | Report Abuse

China developer Kaisa tells court creditors will get less than 5% back if liquidated

Reuters
Tue, October 10, 2023 at 12:38 PM GMT+8·2 min read

FILE PHOTO: Signs of Kaisa Holdings Group are seen at the Shanghai Kaisa Financial Centre, in Shanghai
In this article:

1638.HK
-2.44%

HONG KONG (Reuters) - Struggling Chinese property developer Kaisa Group said creditors would get less than 5% of their money back if it is forced into liquidation, a lawyer for one creditor who is suing the company told a Hong Kong court on Tuesday.

Broad Peak Investment filed a winding-up petition against Kaisa in July in the Hong Kong High Court in relation to non-payment of onshore bonds worth 170 million yuan ($23.28 million).

Many other Chinese developers are also facing winding-up petitions filed after the sector plunged into a debt crisis in 2021, resulting in many firms defaulting on their debt obligations. So far only a couple have been ordered to wind up by overseas courts.

The first Chinese property developer to default on its dollar bonds in 2015 and undergo a restructuring, Shenzhen-based Kaisa was also among the first developers to default in the latest property sector debt crisis, which is weighing heavily on China's economy.

However, nearly two years after its default on offshore debt, Kaisa has yet to announce a restructuring plan.

At the hearing on Tuesday, barrister James Wood, representing the petitioner, cited a statement that Kaisa filed with the court, saying the recovery rate would be less than 5% in a liquidation scenario, its cash to short term debt ratio is 0.02 and that it is cashflow insolvent.

Kaisa has applied to strike out the petition, with its lawyer arguing in court the bond contract is under mainland Chinese law and Broad Peak does not have the authority to commence a winding up procedure in Hong Kong. Hong Kong is a special administrative region of China but maintains its own legal system.

Judge Linda Chan gave the parties 28 days to provide new expert evidence on whether the petitioner has the authority.

She also asked Kaisa to submit an update on its restructuring progress before the next hearing in a date to be decided later.

With $12 billion of offshore debt, Kaisa is China's largest issuer of offshore debt among developers after China Evergrande Group.

Posted by IDQWE001 > 2023-10-13 16:40 | Report Abuse

How China’s Property Crisis Is Testing Its Too-Big-to-Fail Banks
Banks hold enormous amounts of real estate debt, and regulators are nervous. But a fast-moving crisis is unlikely because the government has extensive control of the system.
China’s giant banking system, the world’s largest, is heavily exposed to the real estate crisis: Nearly 40 percent of all bank loans are related to property. And pressure is building on those banks as dozens of real estate developers have defaulted or missed payments on overseas bonds, led by China Evergrande, the world’s most indebted developer.

The scale of China’s property problems — enormous levels of debt, an oversupply of apartments and consumers increasingly wary of buying — means the government could be forced in the coming years to spend huge sums of money bailing out banks.

Officials in Beijing have already taken some steps, underlining the difficult choices the real estate debt poses for policymakers. They have, for example, allowed banks to give extra time to borrowers before their loans come due, a step that risks doing little but kick the problem down the road. Yet that may send the message that both borrowers and lenders can continue pursuing incautious practices in the expectation of a bailout. And it delays the day when banks can lend to more productive ventures.

“If China fails to order the banks to write off bad loans in the property market, interest costs will continue to chip away at the economy, while too much capital will continue to be wasted on investments with no value,” said Andrew Collier, founder and managing director of Orient Capital, an economic research firm in Hong Kong.

Still, almost no one expects falling real estate prices in China to set off an out-of-control string of large bank collapses, similar to what the United States endured 15 years ago. China’s banking system, holding four-fifths of the country’s financial assets including most of the bonds, is far too big for the government to let fail.

The government directly or indirectly holds controlling stakes in practically all banks, giving it a powerful say over their fate even beyond having extensive regulatory powers. China’s financial system relies mostly on bank loans of a year or more, unlike the tradable securities that quickly tumbled in value in 2008, setting off the global financial meltdown. And regulators block most large movements of money in and out of the country, making China’s financial system nearly invulnerable to the kind of sudden departure of foreign money that touched off the Asian financial crisis in nearby countries in 1997 and 1998.
But the current troubles in Chinese real estate, which have their roots in years of wild lending and speculative overinvestment, pose a formidable challenge for policymakers.

Shortly before stepping down last March, Liu He, then China’s vice premier, warned in a speech of the dangers that real estate holds for China.

Posted by IDQWE001 > 2023-10-13 16:40 | Report Abuse

“If not handled properly, risks in the housing sector are likely to trigger systemic risks — that is why prompt steps must be taken to address them,” he told the World Economic Forum in January in Davos, Switzerland.

In interviews in recent weeks, four people in Beijing and Shanghai with knowledge of Chinese financial regulatory actions provided a detailed view of how regulators are trying to cope with risks related to real estate. All insisted on anonymity because they were not authorized to comment publicly.

For one thing, China’s regulators are giving banks much more leeway for when they declare loans to be nonperforming, meaning the borrower can’t make payments. That has allowed banks to delay having to report financial losses.

The policy of allowing banks to extend repayment deadlines for loans that debtors have trouble repaying actually started during the pandemic, the people familiar with the regulatory system said. That policy was intended to give banks wiggle room in dealing with companies that suffered nose dives in sales because of Covid outbreaks or lockdowns, without forcing the banks to set aside extra money for nonperforming loans. But this leniency has continued into this year and been applied to the far larger and deeply troubled real estate sector.

In addition, China’s central bank, the People’s Bank of China, has conducted an elaborate stress test on the balance sheets of China’s 20 largest commercial banks, said three of the people, to ensure their resilience in case of further real estate losses.The stress test, conducted last winter, found that the banks, all of which are state controlled, could survive considerable further deterioration of China’s real estate market, the three people said. But at least half might require additional capital to make sure that they would continue to meet ever-tightening international standards for how much money they keep in reserve.

Acting separately from China’s central bank, central banks in Europe have set up a working group to collect and share information on how much money their countries’ commercial banks have lent in China, although so far they have found little exposure.

A key part of China’s strategy is to spread out the cost of handling real estate losses over more years, these people said. That could allow the banks to use potential future profits on other loans to offset losses on loans to real estate developers.

Nearly half of real estate-related lending in China consists of mortgages, mainly residential. Losses on mortgages are practically nonexistent as homeowners pay them on time or even early.

Posted by IDQWE001 > 2023-10-13 16:41 | Report Abuse

China has long required far higher down payments than Western regulators — at least 20 or 30 percent of the purchase price for first-time home buyers, and as high as 70 percent for second homes.

Households almost never default on mortgages, to avoid losing their down payments. So these loans have consistently been very profitable for commercial banks, which charge interest rates that are a couple of percentage points higher than the banks pay their depositors. The government has recently urged banks to reduce interest rates on mortgages to help households free up cash to spend, but banks have resisted doing so.

Loans to property developers are the biggest worry for commercial banks and regulators, but their role in banks’ overall finances is limited — Mr. Collier, the analyst in Hong Kong, estimated them at 6 to 7 percent of bank lending. China’s banks, with their strong government links, have influence to demand repayment from developers.

The other troubled category of customers for China’s banks lies in financial affiliates of local governments, which borrow money on behalf of local governments. The local affiliates have borrowed twice as much from banks as the country’s real estate developers.

The affiliates are almost all involved in real estate development and associated activities, like building roads, bridges and other infrastructure. They have spent heavily to buy land at local governments’ auctions as private-sector developers have run out of money to bid. Now the financial affiliates face heavy losses — but since they and the banks are ultimately controlled by Beijing, the problem moves slowly.

Banks, real estate developers and local governments are all hoping that Beijing will eventually help them. But the national government has shown scant enthusiasm so far.

“The system is carrying this forward, waiting and waiting and waiting for some kind of bailout, and it has not come,” said Lester Ross, managing partner of the Beijing office of the Wilmer Hale law firm.

Posted by qqq47660 > 2023-10-13 19:05 | Report Abuse

Those administrators in China far better than any thing seen outside China.

People who have met them all says each CPC senior officials are all geniuses, well prepared, well informed and very impressive

Posted by qqq47660 > 2023-10-13 19:08 | Report Abuse

As for capital controls, the latest development is just an administrative order to remind local brokers than foreign shares should not be used by clients to circumvent existing Forex and capital control laws. There is nothing new there.

Posted by qqq47660 > 2023-10-13 19:12 | Report Abuse

As for deposits for house purchases. This is a policy instrument to ensure an orderly market and the reason China do not have a sub prime crisis like America
As Xi says houses for living not for speculations

Posted by qqq47660 > 2023-10-13 19:21 | Report Abuse

China has moved away from making toys. China are now formidable competitors in airplanes, EV, batteries, high tech, 5G, drones, industrial revolution 4.0. China making cars compete with Ferrari as well as cheap cars. The question is not whether China can succeed but whether the G7 can compete in the new landscape

Posted by qqq47660 > 2023-10-13 19:22 | Report Abuse

What is left for Japan and Europe to compete in?

Posted by foongsh > 2023-10-13 19:24 | Report Abuse

Posted by IDQWE001 > 6 hours ago | Report Abuse

China considers new stabilization fund to prop up stock market - Bloomberg News

(Reuters) - China is considering creating a state-backed stabilization fund to shore up confidence in its equity markets, Bloomberg News reported on Thursday.

CCP supporters said stock market not important but CCP created funds to stabilize the tock markets.

CCP supporters said Xi said houses for living not for speculations but Xi opened up all restrictions for speculations.

CCP supporters just dream and never update. Lol

Posted by qqq47660 > 2023-10-13 19:25 | Report Abuse

China has long term plans.

All the anti China articles are about short term stuffs which will be quickly forgetten

Posted by foongsh > 2023-10-13 19:26 | Report Abuse

Posted by IDQWE001 > 7 hours ago | Report Abuse

Changes not seen for hundred years - entire real estate market bubble burst.

Changes not seen for hundred years - more and more developer founders go to jail.

Changes not seen for hundred years - homebuyers no home to stay with bad debts.

Changes not seen for hundred years - banking system loan to developers became non performance loan

Posted by IDQWE001 > 2023-10-13 19:28 | Report Abuse

Exclusive: Combat veteran is likely replacement for China's missing defence minister

BEIJING, Oct 12 (Reuters) - General Liu Zhenli, the head of the military body responsible for China's combat operations and planning, has emerged as the top contender to replace the country's defence minister, who has not been seen in public for more than six weeks, according to five people familiar with the matter.

The appointment of Liu to replace Defence Minister Li Shangfu - which one of the people said was likely to happen before Beijing holds an international security forum later this month - could boost military engagement with the United States amid regional tensions, three military analysts told Reuters.

Li was sanctioned by the U.S. in 2018 for an arms deal he secured with Russia in an earlier role. China has demanded the curbs - which include a visa ban and prohibitions on conducting U.S. financial transactions - be lifted. Liu, 59, is not under Western sanctions.

Currently the Chief of the Joint Staff Department of the Central Military Commission (CMC), Liu was described as Li's likely replacement by a person with direct knowledge of the matter, as well as two people close to the military and two regional officials with close knowledge of Chinese politics. They spoke on condition of anonymity due to the confidential nature of the information.

China's defence ministry and State Council information office did not respond to requests for comment. Reuters was unable to reach Liu himself for comment.

A U.S. Department of Defense spokesperson declined to comment on Liu's possible appointment but said the U.S. "continues to believe in the importance of maintaining open lines of military-to-military communication" with China.

Li's absence has not been officially explained, though Reuters reported last month that he was under investigation for corrupt procurement of military equipment in a previous role.

Posted by IDQWE001 > 2023-10-13 19:29 | Report Abuse

If his departure is confirmed, Li will be the second senior minister to lose his job in recent months.

Qin Gang was removed as foreign minister in July, one month after he was last seen in public.

It is unclear whether Li will retain his position as one of China's five state councillors, a post outranking a regular minister. Qin has not been officially removed from his post as state councillor.

Any decision to improve military-to-military ties - frozen by Beijing when then-U.S. House Speaker Nancy Pelosi visited Taipei in August 2022 - would be made by President Xi Jinping, who has the ultimate say in all important policies and appointments.

Xi is also Commander-in-Chief of the armed forces and chair of the CMC, China's top defence decision-making body, on which Liu already sits.

The person with direct knowledge of the matter said Liu's appointment would likely be announced before foreign defence officials visit Beijing on Oct. 29-31 for the Xiangshan Forum, a major international security seminar.

Procedurally, the appointment and removal of high-level officials is announced by the National People's Congress Standing Committee, which takes guidance from the Chinese Communist Party's elite Politburo. The politburo is expected to meet at the end of this month.

"If Xi Jinping is indeed intent on re-engaging in top-level military engagement with the U.S., this could well present an opportunity for the Pentagon to finally reconnect with the (People's Liberation Army) high command," said James Char, a scholar at Singapore's S. Rajaratnam School of International Studies.

Reuters reported Wednesday that Washington has accepted an invitation to the Xiangshan Forum, though it is unlikely that Defense Secretary Lloyd Austin will personally attend.

PUBLIC FACE OF THE MILITARY
China's Minister of National Defence has a largely diplomatic role with no direct command authority. The post is subordinate to a handful of other officials from the CMC, including the two vice chairmen under Xi.

Liu's appointment could elevate the profile of the job, five analysts and military attaches told Reuters.

His recent experience leading the Joint Staff Department would allow foreign counterparts to deal with a figure at the centre of China's military operations and war planning, rather than a mere technocrat.

U.S. defence officials have long wanted to reestablish routine communications with counterparts directly involved in command decisions.

"This could really help breathe some oxygen into China's military diplomacy," said Singapore-based defence analyst Alexander Neill, an adjunct fellow at the Pacific Forum, a foreign policy research institute in Honolulu.

"Finally, the U.S. might have someone they would really want to talk to," he said.

Liu is also one of the few recent Chinese military leaders with combat experience, having been involved in intense border fights with Vietnamese troops in 1986 - part of years of skirmishes that followed Beijing's invasion of northern Vietnam in 1979, according to Chinese media reports.

Posted by IDQWE001 > 2023-10-13 19:31 | Report Abuse

ONE-MAN RULE
Defence diplomacy is seen by diplomats and analysts as an important part of Xi's push for a modernized military that can support China's growing international interests.

China's ships and planes will need greater access to ports and bases internationally to achieve Xi's goal of becoming the dominant world power.

The removal of two senior ministers in such quick succession "highlights the severe limitation of Xi's one-man rule," said Willy Lam, senior fellow at U.S. think tank Jamestown Foundation.

"He prioritised loyalty over capability and honesty when choosing who to put in power. Look how they turned out?"

Xi has made combating corruption a priority, particularly within the military, since he first became president. His defenders say the centralisaton of power is needed if China is successfully to navigate global tensions.

Qin was made foreign minister in Dec. 2022 and Li became defence minister in March. State news agency Xinhua reported in October 2022 that Xi decided on the senior appointments after personally conducting interviews with all the prospective candidates.

Air Force commander Chang Dingqiu is set to take over from Liu as Chief of the Joint Staff Department, according to three of the people familiar with the situation.

ALL CCP are corrupted please keep on replacing and missing. Who is next ?

changes not seen for hundred years - ministers keep on missing and replacing worse than 3rd world country ISA

Posted by qqq47660 > 2023-10-13 23:06 | Report Abuse

https://www.tiktok.com/@frontline_focus/video/7289439929862491438

Posted by IDQWE001 > 2023-10-13 23:31 | Report Abuse

Xi Jinping Reprimanded By Party Elders Over China's Crisis | Beidaihe Meeting: More Secrets Unveiled

https://youtu.be/bI9Wae3Kfv4?si=44TZknIE9YCLvTsU

Posted by IDQWE001 > 2023-10-13 23:32 | Report Abuse

Shocking Discovery: Basement of Corrupt Chinese Official Yields Staggering Gold Hoard

https://youtu.be/1TESDAW3uRU?si=UMhYrQbWyIzehpRy

The nature of CCP.

Posted by qqq47660 > 2023-10-14 11:09 | Report Abuse

America hegemony gives u the trouble in Palestine and also give u people like idqfoong.

No wisdom just lots of bs.

Posted by qqq47660 > 2023-10-14 11:18 | Report Abuse

China and it's win win model is surely sustainable.

But is the American and Jew model of hegemony sustainable?

Posted by qqq47660 > 2023-10-14 11:20 | Report Abuse

Chinese modernity and China success is a fact.

All the American lies are just America hegemony

Posted by foongsh > 2023-10-14 11:21 | Report Abuse

IDQWE001 > 11 hours ago | Report Abuse

Xi Jinping Reprimanded By Party Elders Over China's Crisis | Beidaihe Meeting: More Secrets Unveiled

https://youtu.be/bI9Wae3Kfv4?si=44TZknIE9YCLvTsU

some CCP anti Xi because Xi brought the country to wrong direction.

Posted by foongsh > 2023-10-14 11:23 | Report Abuse

Posted by IDQWE001 > 11 hours ago | Report Abuse

Shocking Discovery: Basement of Corrupt Chinese Official Yields Staggering Gold Hoard

https://youtu.be/1TESDAW3uRU?si=UMhYrQbWyIzehpRy

The nature of CCP.

Smart CCP transferred corrupted money oversea and left bad debts to local citizens.

Posted by qqq47660 > 2023-10-14 11:37 | Report Abuse

Malaysian want to say China bad bad bad...u no shame meh?

Posted by qqq47660 > 2023-10-14 11:39 | Report Abuse

China doing far better than Malaysia.

Posted by stockraider > 2023-10-14 12:08 | Report Abuse

Msia should urge Hamas to release the israel hostages immediately to calm things down.
At least this action of releasing the hostages will help in the peace talk loh!

Posted by qqq47660 > 2023-10-14 12:10 | Report Abuse

Malaysia don't go kill Jews u should be happy already

Posted by stockraider > 2023-10-14 12:11 | Report Abuse

Just do the right thing mah!

Posted by qqq47660 > 2023-10-14 12:13 | Report Abuse

Anyway world trend is in favour of China and against America/ Jewish hegemony....

So even the Jews problem is solved as soon as American hegemony no more