Andrew
Manyika Kangai
China warns US
In response to US House of Representatives Speaker Nancy Pelosi’s planned visit to Taiwan, China’s Ministry of National Defence spokesperson Tan Kefei said: “China requires the United States to take concrete actions to fulfil its commitment not to support ‘Taiwan independence’ and not to arrange for Pelosi to visit Taiwan. If the US insisted on going its own way, the Chinese military would never sit idly by and will take strong measures to thwart any external interference and separatist plans for ‘Taiwan independence”, and resolutely defend national sovereignty and territorial integrity.” China’s Foreign Ministry spokesperson Zhao Lijian also issued a statement saying, “We are standing by. If the US insists on going its own way, China will take firm and powerful measures to defend national sovereignty and territorial integrity, and the US side should be responsible for all serious consequences.”
China-Africa Peace and Security Forum Held
The second China-Africa Peace and Security Forum Ministerial Meeting was held via video link on Monday. Chinese State Councillor and Defence Minister Wei Fenghe attended the meeting and called for enhancing China-Africa peace and security cooperation. China’s President Xi Jinping sent a congratulatory letter in which he stated that realising enduring peace and universal security is a common aspiration of the Chinese and African people. The forum was held under the theme “Strengthen Solidarity and Coordination to Achieve Common Security.” Nearly 50 ministerial leaders and senior representatives from the African Union (AU) and African countries attended the forum.
China’s Gold Consumption Down
China produced 174 687 tonnes of gold in the first half of this year, an increase of 21 934 tonnes or 14,4 percent compared with the same period last year. However, gold consumption in China shrank by 12,8 percent year-on-year to 476,8 tonnes, according to data from the China Gold Association (CGA) released on Wednesday. The consumption of gold jewellery came in at 320,7 tonnes, down 8 percent from last year, while that of gold coins and bars plunged by 25,6 percent to 112,4 tonnes in the first six months. During the same period, gold consumption for industrial and other uses stood at 43,7 tonnes, down 7,9 percent year-on-year. Holdings of gold-backed Exchange-Traded Funds (ETFs) in China dropped 18,3 tonnes to about 57 tonnes in the first half of 2022.
China Cuts Fuel Retail Prices Again
China has cut retail prices of petrol and diesel since Wednesday, according to the country’s top economic planner, the National Development and Reform Commission (NDRC). Prices of gasoline and diesel went down by 300 yuan (about US$44,5) per tonne and 290 yuan (about US$43) per tonne, respectively. This is the fourth reduction in fuel prices this year and the third in a row since June 28.
China Approves First Homegrown Covid-19 Antiviral
China’s drug regulator has granted conditional approval for an HIV drug to be used to treat Covid-19. The drug, Azvudine, developed by Chinese drug maker Henan Genuine Biotech is the first oral antiviral for the disease made in China. China’s Food and Drug Administration has conditionally approved the drug in combination with other reverse transcriptase inhibitors to treat adult HIV-1 infected patients with high viral load. The company is required to continue to carry out relevant research work, complete the conditional requirements within a time limit and submit the follow-up research results in a timely manner.
*Manyika Kangai helps African businesses realise the full potential of the vast opportunities China presents. He has over 15 years of experience facilitating and advising on China-Africa trade and investment deals. Feedback+27743487997/
Online Reporter