The Nation Newspaper

Tag: Xi Jinping

  • ‘What China’s Xi told me about Taiwan’

    ‘What China’s Xi told me about Taiwan’

    President Trump said that Chinese President Xi Jinping has given him assurances that Beijing would take no action toward its long-stated goal of unifying Taiwan with mainland China while the Republican leader is in office.

    Trump said that the long-contentious issue of Taiwan did not come up in his talks with Xi on Thursday in South Korea, which largely focused on U.S.-China trade tensions. But the U.S. leader expressed certainty that China would not take action on Taiwan while he’s in office.

    “He has openly said, and his people have openly said at meetings, ‘We would never do anything while President Trump is president,’ because they know the consequences,” Trump said in an excerpt of an interview with the CBS’ programme “60 Minutes” that aired Sunday.

    U.S. officials have long been concerned about the possibility of China using military force against Taiwan, the self-ruled island democracy claimed by Beijing as part of its territory.

    Read Also: US Trump’s claim on Christian persecution in Nigeria exaggerated – Archbishop Borokini

    The 1979 Taiwan Relations Act, which has governed U.S. relations with the island, does not require the U.S. to step in militarily if China invades but makes it American policy to ensure Taiwan has the resources to defend itself and to prevent any unilateral change of status by Beijing.

    Asked if he would order U.S. forces to defend Taiwan if China attacked, Trump demurred. The United States, both Republican and Democratic administrations, has maintained a policy of “strategic ambiguity” on Taiwan – trying not to tip its hand on whether the U.S. would come to the island’s aid in such a scenario.

     “You’ll find out if it happens, and he understands the answer to that,” Trump said of Xi.

    Liu Pengyu, spokesman for the Chinese Embassy in Washington, did not respond directly to a query about whether Trump has received any assurances from Xi or Chinese officials about Taiwan. He insisted in a statement that China “will never allow any person or force to separate Taiwan from China in any way.”

     “The Taiwan question is China’s internal affair, and it is the core of China’s core interests. How to resolve the Taiwan question is a matter for the Chinese people ourselves, and only the Chinese people can decide it,” the statement added.

  • What Nigeria can learn from the China’s poverty eradication model

    What Nigeria can learn from the China’s poverty eradication model

    In a world grappling with persistent poverty, China has emerged as a global model for successful poverty eradication—lifting nearly 800 million people out of extreme poverty since 1978. This staggering achievement, which accounts for approximately 75 percent of global poverty reduction, has drawn attention from policymakers and development experts worldwide, including Nigeria.

    A joint report by China’s State Council and the World Bank titled Four Decades of Poverty Reduction in China describes the feat as “historically unprecedented.” Rural disposable income in previously impoverished counties rose from 6,079 yuan in 2013 to 16,396 yuan ($2,316) in 2023, underscoring the long-term impact of targeted poverty alleviation efforts.

    Central to China’s strategy was the vision of a “Moderately Prosperous Society,” a concept that guided national policy for decades. President Xi Jinping redefined prosperity not merely by GDP growth but by the complete elimination of extreme poverty. “We cannot announce the complete construction of a ‘moderately prosperous society’ if the living standards of tens of millions remain below the poverty line,” Xi declared.

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    This philosophy set the tone for a nationwide mobilization that left no village or remote community behind. China’s approach combined agricultural reform, industrialization, urbanization, and massive infrastructure development with targeted social programs. Key strategies included relocating people from remote areas, integrating environmental protection with income generation, and expanding access to education and healthcare.

    The success of China’s Party-led governance system in implementing these policies offers valuable lessons for Nigeria, especially under President Bola Ahmed Tinubu’s Renewed Hope Agenda.

    Vice President Kashim Shettima recently articulated the administration’s transformative vision, describing it as a “covenant between us and the people.” He emphasized Nigeria’s readiness to embrace global opportunities and reposition itself as a prime investment destination.

    Minister of Information and National Orientation, Mohammed Idris, added that the Renewed Hope Agenda goes beyond macroeconomic reforms. “It is about creating concrete opportunities for prosperity across sectors—for individuals, for families, and for communities,” he said.

    The administration’s roadmap includes bold reforms such as the removal of fuel subsidies, which Idris described as a “painful but necessary” decision. The savings from this policy shift are now funding major infrastructure projects like the Lagos-Calabar Coastal Superhighway, Sokoto-Badagry Superhighway, Kaduna-Kano Standard Gauge Railway, and the Abuja-Kaduna-Kano Expressway.

    In addition, over 900,000 small businesses have benefited from the Presidential Conditional Grant and Loan Scheme, while thousands of students are accessing higher education through the Students’ Loan Scheme.

    Experts argue that Nigeria’s push for local government financial autonomy could be a game-changer in bridging the urban-rural divide. With increased allocations and freedom to implement grassroots projects, local governments are poised to drive employment and economic activity at the community level.

    The creation of Regional Development Commissions across Nigeria’s six geopolitical zones and the recent establishment of the Ministry of Livestock Development further signal the administration’s commitment to inclusive growth. These initiatives mirror China’s rural revitalization efforts and could help Nigeria close the gap between urban and rural communities.

    As Nigeria navigates its path toward economic renewal, China’s experience offers a compelling reminder: with visionary leadership, targeted policies, and inclusive governance, poverty can be not just reduced—but eradicated.

  • Jinping expresses readiness to work with African leaders 

    Jinping expresses readiness to work with African leaders 

    Chinese President Xi Jinping has expressed readiness to work with African leaders to promote the implementation of the six proposals for jointly advancing modernization and 10 partnership actions.

    This, Jinping said is aimed at bringing more tangible results to benefit over 2.8 billion Chinese and African people.

    He stated this in a message to the 38th African Union (AU) Summit, made available the Diplomatic Correspondents in Abuja.

    He extended warm congratulations to African countries and people.

    He said that in the face of the current complex and intertwined international situation, the Global South, represented by China and Africa, has grown significantly.

    Over the past year, the AU has united and led African countries in vigorously advancing integration, actively responding to regional and global challenges, and speaking in unison as the “voice of Africa,” Xi said.

    Read Also: Joe Biden phones Xi Jinping to calm tensions over Taiwan

    Noting that these efforts have led to a continuous boost in Africa’s international status and influence, he sincerely wishes African countries and people even greater success on the path of independence, self-reliance and development.

    Xi said that the year 2024 saw vigorous development of China-Africa relations.

    With the successful Beijing Summit of the Forum on China-Africa Cooperation, China and Africa have embarked on a new stage of jointly building an all-weather community with a shared future for the new era, and stayed at the forefront of building a community with a shared future for mankind, Xi noted.

    He expressed readiness to work with African leaders to promote the implementation of the six proposals for jointly advancing modernization and 10 partnership actions, so as to bring more tangible results to benefit over 2.8 billion Chinese and African peoples. 

  • US gives China one-month ultimatum for trade deal

    US President Donald Trump President has reportedly given China a one-month ultimatum to seal a trade deal or face tariffs on all its exports to the United States.

    The decision was relayed by people with knowledge of the talks between the two sides on Friday, hours after the Trump administration raised tariffs on $200 billion of Chinese imports from 10 percent to 25.

    Even though, the US president hailed the talks with the Chinese delegation as “candid and constructive” in a series of tweets.

    “The relationship between President Xi Jinping and myself remains a very strong one, and conversations into the future will continue.”

    However, in a meeting with Chinese Vice Premier Liu He, US officials laid out their bottom line and informed him that Beijing had three or four weeks to agree to a deal or face additional 25 percent tariffs on a further $325 billion in exports to the US, according to people familiar with the talks.

    Read Also: Nigeria-China trade Fair to hold

    “For the interest of the people of China, the people of US and the people of the whole world, we will deal with this rationally,” Liu said in an interview with Chinese state broadcaster CCTV on Friday.

    “But China is not afraid, nor are the Chinese people. China needs a cooperative agreement with equality and dignity.”

    The Chinese vice premier had earlier stated that the prospects for the talks were “promising,” but warned that raising tariffs would be “harmful to both sides.”

    In several tweets later on Friday, Trump sought to justify his decision to hike tariffs as well as to convince businesses and financial markets that he had no plans to walk away from a deal with China.

    The Chinese commerce ministry, however, lamented the US move on Friday and reiterated Beijing’s pledge to take “necessary countermeasures.”

    (https://www.presstv.com)

  • We’ll open up to other countries — China

    The government of the People’s Republic of China (PRC) on Tuesday announced its plans to in the future embark on open up initiatives with other countries.

    The Acting Consul General of China in Lagos, Mr Guan Zhongqi, made the disclosure at a news conference to announce the outcome of the Second Belt and Road Forum.

    Guan said that the Second Belt and Road Forum held in Beijing, China, from April 25 to April 27 was tagged “Belt and Road Cooperation: Shaping a Brighter Shared Future’’.

    “The Belt and Road Cooperation reflects China’s determination to promote an all-round pattern of opening up, and deepening of our reform and opening up has continued to inject into the Belt and Road cooperation.

    “At the opening ceremony of the forum, President Xi Jinping, announced that China will carry out a series of major reform and opening up initiatives.

    “This will include expanding foreign market access in a broader area, strengthening international cooperation on intellectual property rights protection, increasing imports of goods and services on a larger scale and effective implementation of the international macro-economic policy,’’ he said.

    Read Also: IMF cautions Nigeria against borrowing from China

    According to him, the opening up would provide greater opportunities for the Belt and Road cooperation as well as promote win-win prosperity for all countries.

    The Chinese envoy said that about 127 countries and 29 international organisations had so far signed the Belt and Road cooperation documents with the Chinese government.

    Guan said that the Second Forum was this year and China’s most important diplomatic event with the significance of building an open world economy, building the Belt and Road from a strategic perspective.

    Guan added that the forum was important for combining domestic and external cooperation to catalyse China’s reform and opening up initiatives.

    “The BRI advocates multilateralism and cooperation through consultation.

    “We will continue to follow the golden principle of extensive consultation, joint contribution and shared benefits, adhere to the concept of open, inclusive and transparent cooperation.

    “We will actively promote a global partnership of connectivity, which is important consensus that all parties reached at the Second Belt and Road Forum,’’ he said.

    NAN

     

  • Dollar weakens as cautious Fed leads to rate-hike rethink

    The dollar weakened against other major currencies on Thursday as markets took Federal Reserve Chairman Jerome Powell’s comment that U.S. interest rates were just below neutral as a signal that a three-year rate-hiking cycle is nearing an end.

    The dollar index, which measures the value of the greenback against a basket of other major currencies, fell 0.2 per cent to 96.64 — its lowest level in almost a week.

    Powell took markets by surprise on Wednesday when he noted that the policy rate, at 2 to 2.25 per cent, is now “just below” the broad range of estimates of neutral which in September was 2.5 to 3.5 per cent.

    That marks a departure from comments in October when Powell said rates were a “long way from neutral at this point”.

    “Clearly, Powell’s comments about where the neutral interest rate is has created a shift in market expectations with respect to Fed policy,” said Jane Foley, a senior currency strategist at Rabobank in London.

    “That is a dovish factor for the dollar and is positive for risk appetite.”

    That shift was reflected in money markets where expectations of Fed rate increases declined to around 47 basis points over the next year from 52 basis points earlier this week.

    The dollar was also weaker across the board and was last down 0.4 per cent at 113.25 yen and a quarter of a per cent weaker against the euro.

    The euro fetched $1.1394, having touched $1.13975 – its highest in almost a week.

    Benchmark 10-year U.S. Treasury yields fell to their lowest level since September at 3.013 per cent on Thursday, adding to the bearish sentiment towards the dollar.

    Read Also: Naira loses marginally against dollar at investors’ window

    Focus now turns to the release this session of the October U.S PCE price index, the Fed’s favoured inflation gauge, for more clues on the outlook for U.S. interest rates. Minutes from the Fed’s November meeting are also released later in the day.

    Analysts said the minutes were likely to reaffirm market expectations for a rate hike in December, but were unlikely to have a significant impact, since market focus has now turned to whether the Fed will pause the tightening cycle next year.

    Dollar weakness in the wake of Powell’s comments was expected to be limited, given a note of caution ahead of the G20 summit on Friday and Saturday where U.S. President Donald Trump and China’s President Xi Jinping are scheduled to discuss contentious trade matters.

    Rodrigo Catril, senior currency strategist at NAB, said safe-haven buying could return if there were no signs of a truce between Washington and Beijing over the course of the G20 summit.

    Elsewhere, sterling rose to $1.2830, but weakened 0.2 per cent against the euro to 88.81 pence, reflecting uncertainty about whether British Prime Minister Theresa May be able to get her Brexit deal approved by a fractious parliament.

    The Bank of England warned on Wednesday that Britain risked a bigger hit to its economy than it suffered from the global financial crisis a decade ago if it leaves the European Union in a “disorderly” manner, which would include a 25 per cent crash in the value of the pound.

    NAN

  • Chinese manufacturers seek incentives to play in transport, energy sector

    The Chief Operating Officer, Meorient International, Binu Pillai,  speaking at the official opening of the China Homelife Fair Nigeria said more opportunities have begun to sprout from the bilateral ties between Nigeria and China, with more Chinese firms embarking on project export initiatives for local production.

    He said: “We are particularly looking at the transportation and energy sector as priority sectors. Our manufacturers are looking forward to the incentives that the market can offer. It could be land, repatriation of profit, in terms of if you bring any raw materials that is used for manufacturing,  can there be any tax exemptions? So basically how they can leverage.”

    According to him, the focus of the fair with 160 participating exhibitors is to provide a platform for real interaction between business partners and potential clients and investors. “They have come to talk to the stakeholders directly so that they have a very good understanding of the market. There could be cultural or language differences but they want to come here and bridge that gap,” he said.

    Pillai believes with the $60 billion recently offered by the Chinese government  in aid and loans for Africa, a higher scale of collaboration will be witnessed in business interactions of the two countries.

    On Monday, the Chinese President Xi Jinping announced $60 billion in aid and loans for Africa during the hosting of more than 40 of the continent’s leaders in Beijing, saying the fund came with no expectation of reimbursement.

    “When you talk about the $60 billion we are talking about project export. It’s a trend in China and China in some cases has over capacity, so there are companies interested in moving their factories to produce locally. Also there could be some collaborative projects in multiple  fields such as oil and gas,” Pillai noted.

    The General Manager, Nigeria Export Processing Zones Authority (NEPZA) Mu’azu Ruma addressing concerns over incentives said fiscal incentives were being developed, adding that a review of undertaking with the industrial incentive council under the Federal Ministry of Industry, Trade and Investment was ongoing to create an enabling environment that is standard worldwide. The cost of production and all other concerns including security, he said, we’re being looked into.

    Read Also: Buhari assures Chinese investors of support

    Speaking of the deliverables, however, Roma described the exhibition as one of the means to further strengthen the existing bilateral relations and multilateral business relationship between the two countries. He said it will open a way of utilizing Nigeria’s resource base for further business productions and bring about economic development into Nigeria.

    “It is an opportunity opening for Chinese investors that have never been to Nigeria to explore all avenues for further investments and businesses. For me it’s a way forward towards economic development and a consolidation of the agenda of the current government. What this coming means is that Nigerians will get employed, wealth will be created and drying there would be so many integrations both forward and backward,” Ruma said.

  • FG, Obaseki, Chinese investors heighten transaction consultations

    Edo State is well on its way to clinch a chunk of the $60 billion penciled down as financial support by the Chinese President, Xi Jinping, for the African continent, announced at the ongoing 2018 Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in China.

    In his keynote speech, Xi Jinping said that in the next three years China would float eight major initiatives with African countries, to realise a closer China-Africa community of shared destiny. He noted that the fields of interest for China include industry, investment, trade, infrastructure, health, culture, environmental protection and security.

    Governor Godwin Obaseki with representatives of the federal government in Beijing on Monday,  engaged representatives of the Chinese government and top-guns of the China Harbour Engineering Company (CHEC) Limited in China, in what followers of the investment collaboration with the Asian country, say, is the last lap of talks to secure final investment decisions and commence full scale development of the Benin River Port project, the Benin Industrial Park and the Modular Refinery

    On the Edo State Government’s side are governor Obaseki with some of his aides; the Director-General of Nigerian Investment Promotion Commission (NIPC), Yewande Sadiku, Acting Director General of Nigeria Governors’ Forum (NGF), Secretariat, Alhaji Abdullateef Shittu, amongst others.

    The project is expected to open the state for foreign trade and boost local production, leveraging the state’s strategic location to attract investment and grow manpower.

    Read Also: Obaseki finalises investment with Chinese firms

    Before leaving for China,  Obaseki had approved the release of N700 million for the Benin Refinery project, which the state government is executing in partnership with a Chinese consortium.

    With the initial investment capital approved, experts conversant with the project, say the state government is well placed to seal the deals for the projects so that development work can commence in earnest.

    The governor said that the investment drive is to steer the state away from dependence on oil and set it on the path of prosperity anchored on a solid industrial base

    According to him, “We are excited about the Modular Refinery project and are certain that with our Chinese partners, we will begin work on the project in no distant time.

    The project is going to transform the state’s economy and position us as a hub for fabrication of refinery parts with the setting up of SIPS fabrication yard to groom local capacity in that sector.”

    The Chinese government also made commitment to establish the China-Africa Economic and Trade Expo in China. The country fully supports the goal of basically achieving food security before 2030 as proposed by African countries, and will provide one billion yuan (146.3 million US dollars) in emergency humanitarian aid to disaster-affected African countries.

     

  • Nigeria, China to sign $328 million agreement on ICT

    President Muhammadu Buhari is expected to join his Chinese counterpart, Xi Jinping to witness the signing of an agreement for US $328 million facility provided by the Chinese EXIM Bank.

    The agreement is on the National Information and Communication Technology Infrastructure Backbone Phase 11 (NICTIB 11) between Galaxy Backbone Limited and Huawei Technologies Limited (HUAWEI).

    Buhari, who arrived Beijing on Saturday to attend the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) holding September 3 – 4, 2018, is on 6-day official visit to the Asian country.

    A statement by the Senior Special Assistant on Media and publicity, Garba Shehu, said “The bank facility is for the development of NICTIB 11 project which is consistent with the current administration’s commitment to incorporating the development of ICT into national strategic planning under the National Economic Recovery and Growth Plan (ERGP).

    “President Buhari and his Chinese host will also witness the signing of the MOU on One Belt One Road Initiative (OBOR). It may be recalled that in 2013, the Chinese leader proposed the initiative of building the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, with a view to integrating the development strategies of partnering countries.

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    “During the High-Level Dialogue between Chinese and African Leaders and Business representatives on the margins of FOCAC, the Nigerian delegation is also expected to sign no fewer than 25 MOUs, including those proposed by the Nigerian Investment Promotion Commission (NIPC), Nigerian National Petroleum Corporation (NNPC), and Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).” he added.

    On arrival at Capital International Airport, Beijing at about 9:04 am (Nigerian time), he said that the President was received by top Chinese government officials including the Chinese Ambassador to Nigeria, Dr Zhou Pingjian.

    He went on “Nigeria’s Ambassador to China, Baba Ahmed Jidda and his wife Zahra; the Deputy Chief of Mission, Ambassador Bakori Aliyu Usman; Consular-General of Nigeria, Guangzhou, Shairudeen Oloko; Consular-General of Nigeria, Shanghai, Anderson Madubuike; and Defence Attaché, Brig-Gen. Temitope Ademola were also among those who received the President.

    “President Buhari will tomorrow meet Nigerians living in China before the kick-off of FOCAC on Monday when he will join President Jinping and other African leaders for roundtable sessions which will essentially discuss the report of FOCAC since the 2015 Johannesburg Summit, including the implementation of the ‘‘ten cooperation plans’’ adopted at the last meeting.

    “The Summit is also expected to adopt the Beijing Declaration and the Action Plan for the development of China-Africa cooperation and fashion out new opportunities to grow Nigeria-China comprehensive strategic partnership from 2019 to 2021.”

     

  • Buhari for FOCAC summit in China September

    Also to attend United Nations General Assembly next month 

     

    Barring last minute change, President Muhammadu Buhari is expected to join world leaders in Beijing, China for the 2018 Forum on China-Africa Cooperation (FOCAC) first week of September.

    The Chinese President Xi Jinping is to chair the Forum scheduled for September 3rd to 4th in Beijing.

    The summit will be themed “China and Africa: toward an even stronger community with a shared future through win-win cooperation.”

    Apart from African leaders, representatives of related regional organizations in Africa and international organizations will also participate in relevant activities of the summit.

    Objectives of FOCAC include equal consultation, enhancing understanding, expanding consensus, strengthening friendship and promoting cooperation between African countries and China.

    The FOCAC follow-up mechanisms are built at three levels: The Ministerial Conference is held every three years; the Senior Officials Follow-up Meeting and the Senior Officials Preparatory Meeting for the Ministerial Conference are held respectively in the year and a few days before the Ministerial Conference is held.

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    The consultations between the African Diplomatic Corps in China and the Secretariat of the Chinese Follow-up Committee are held at least twice a year, while the Ministerial Conference and the Senior Officials Meeting are held alternately in China and an African country, with China and the African host being co-chairs presiding over the meetings and taking lead in implementing the outcomes of the meetings.

    The Ministerial Conference is attended by foreign ministers and ministers in charge of international economic cooperation, and the Senior Officials Meeting by director-general level officials of the competent departments of China and African countries.

    President Buhari is also billed to attend the United Nations General Assembly in the United States also in September.