Spokesman on Philippines-US joint military exercise

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China

Spokesman on Philippines-US joint military exercise

2025-04-21 16:25 Last Updated At：23:27

Those who play with fire are bound to get burned, said Foreign Ministry spokesman Guo Jiakun at a press briefing in Beijing on Monday.

Guo made the remarks in response to a query about the upcoming joint military exercise of the United States and the Philippines. "At a time when the international community is facing the impacts of unilateralism, protectionism, bullying and hegemony, countries in the region anxiously hope to strengthen unity and cooperation, jointly safeguard regional stability and address challenges together. Against this backdrop, the Philippines colludes with a country not in the region to conduct military exercises, introduces and deploys strategic and tactical weapons, which undermines regional strategic stability and inflicts the region's economic growth prospects. This is to blatantly place itself in opposition to countries in the region and has aroused strong resentments and opposition from them," Guo said.

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Spokesman on Philippines-US joint military exercise

"The Taiwan question is purely China's internal affairs and is at the core of China's core interests. China firmly opposes any country using the Taiwan issue as an excuse to strengthen military deployments in the region, provoke tensions and confrontation, and disrupt regional peace and stability. We advise the relevant parties not to make provocations on the Taiwan question. Those who play with fire are bound to get burned," he said.

China's local gov't bond issuance hits new high in Q1

2025-05-15 21:26 Last Updated At：21:37

China's local government bond issuance reached 2.84 trillion yuan (about 390.6 billion U.S. dollars) in the first quarter of this year, marking an over 80 percent year-on-year increase and setting a new record.

The issuance and usage of local government bonds have become a key driver in boosting domestic demand.

In terms of issuance structure, the largest portion is the 1.47 trillion yuan refinancing special bonds, which are to replace existing debts. They took up 52 percent of the total.

Since this year, the scale of implicit local debts in several places has seen a decline. Especially in provinces like Jiangsu, Jilin, Qinghai, and Hunan, their implicit debts were fully cleared; Other regions completed their annual replacement quota.

"Dissolving implicit debts follows last year's plan. So far, this year's debt issuance has proceeded over 50 percent, clearing some problems in China's economic cycle," said Luo Zhiheng, chief economist of Yuekai Securities.

On the other hand, in the first three months of 2025, new special bond issuance for infrastructure came in at nearly 960.3 billion yuan (132.8 billion U.S. dollars), up 51 percent year on year.

From the capital allocation perspective, the focus is on areas such as municipal and industrial parks, rail transit, and land reserves.

The issuance of new local special bonds has been accelerated, facilitating the improvement of available funds and the advancement of projects.

"In the first quarter, the Chinese economy was off to a good start, thanks to the accelerated issuance and use of local government bonds, which boosted the recovery of infrastructure investment. The usage structure and purpose of special bonds have become more diverse, conducive to China's demand expansion and supply structure optimization," Luo said.