State Council Discusses Venture Capital Sector & Regulations on Export Control of Dual-Use Items - What Guides China's New Era of Reform? - China-EU Talks - Wang Yi Meets Korean Lawmakers
Here are the key reports and articles that I found noteworthy from the People’s Daily’s edition on Thursday, September 19, 2024.
Page 1: Let’s begin with the report on the State Council executive meeting. The meeting studied measures to boost the development of the venture capital industry. In addition, it heard a report on this year’s grain production situation and agricultural work; reviewed and approved the ‘Regulations on Commendation of Martyrs (Draft Amendment)’; and reviewed and approved the ‘Regulations of the People's Republic of China on Export Control of Dual-Use Items (Draft)’.
The meeting said venture capital is related to technological innovation, industrial upgrading and high-quality development. It is necessary to:
accelerate the clearing of blockages and bottlenecks in the various stages of ‘fundraising, investment, management, and exit.’ Support eligible tech companies to go public domestically and internationally, vigorously develop the equity transfer and mergers & acquisitions markets, promote the pilot program of distributing physical stocks, and encourage private capital to set up market-oriented mergers & acquisitions funds or venture capital secondary market funds to foster a virtuous cycle in the venture capital industry.
encourage state-owned capital investment to become more responsible long-term capital and patient capital, and improve policies related to state-owned capital contributions, performance assessments, fault tolerance, and exits.
consolidate the institutional foundation for the healthy development of venture capital, implement key measures for capital market reform, improve the functions of the capital market, and further stimulate the vitality of the venture capital market.
会议指出，创业投资事关科技创新、产业升级和高质量发展。要尽快疏通“募投管退”各环节存在的堵点卡点，支持符合条件的科技型企业境内外上市，大力发展股权转让、并购市场，推广实物分配股票试点，鼓励社会资本设立市场化并购母基金或创业投资二级市场基金，促进创投行业良性循环。要推动国资出资成为更有担当的长期资本、耐心资本，完善国有资金出资、考核、容错、退出相关政策措施。要夯实创业投资健康发展的制度基础，落实资本市场改革重点举措，健全资本市场功能，进一步激发创业投资市场活力.
On agriculture, the meeting called to study and formulate the policy plan for grain purchasing and storage as soon as possible, announce the minimum purchase price of wheat in the new year as soon as possible, improve the reward and compensation policy for soybean processing, and protect farmers' enthusiasm for growing grain. It is necessary to increase support for cattle and sheep breeding and implement a number of relief policies to help farmers tide over the difficulties. 及早研究制定粮食收储政策预案，尽快公布新年度小麦最低收购价，完善大豆加工奖补政策，保护好农民种粮积极性。要加大对牛羊养殖等支持力度，抓紧实施一批纾困政策，帮助养殖户渡过难关.
Next on the page is a long, long Ren Lixuan article. The crux of the article is a call to action for everyone to implement the reform agenda outlined at the Third Plenary Session, and implementing action requires ideological alignment with Xi.
The author contends that:
“Only by learning well can we implement and execute effectively. Firm action stems from strong political consciousness and ideological consciousness. Only by being clear-headed and resolute in thought can we be strong and effective in action. To ensure the implementation of reforms and be steadfast practitioners and doers in building Chinese-style modernization, we must adhere to Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, especially General Secretary Xi Jinping's series of new ideas, new viewpoints, and new propositions on comprehensively deepening reform, and learn and understand the spirit of the Third Plenary Session of the 20th CPC Central Committee.” 学习好才能贯彻好、落实好。坚定的行动自觉建立在坚定的政治自觉、思想自觉之上。只有在思想上清醒而坚定，才能在行动上坚强而有力。抓好改革落实，当好中国式现代化建设的坚定行动派、实干家，要坚持以习近平新时代中国特色社会主义思想特别是习近平总书记关于全面深化改革的一系列新思想、新观点、新论断为指导，学深悟透党的二十届三中全会精神.
Later the author adds:
“Thought is the banner of action and hard work. To further comprehensively deepen reform and promote Chinese-style modernization, we are treading a path never before taken by our predecessors. This journey must be guided by the correct guiding ideology. Only by adhering to the correct guiding ideology can we avoid taking the old path of being closed and rigid or the evil path of changing flags and banners, but unswervingly follow the path of socialism with Chinese characteristics and continuously promote the self-improvement and development of the socialist system. The ‘Decision’ has put forward the ‘guiding ideology for further comprehensively deepening reform’, which plays a vital role in further comprehensively deepening reform. Especially at this moment, as reform progresses, the complexity of the situation and environment we face is unprecedented, and the arduousness of the tasks of reform, development, and stability that we bear is unprecedented. The direction of the reform ship must be precise, and its navigation must be steady. The guiding ideology for further deepening reform provides a ‘compass’ for the steady and far-reaching progress of reform. We must move forward in the direction guided by the guiding ideology of further comprehensively deepening reform, and we must not deviate or waver at any time. Within the guiding ideology, General Secretary Xi Jinping’s series of new ideas, new viewpoints, and new propositions about comprehensively deepening reform are the most important content. Since the Third Plenary Session of the 18th CPC Central Committee, General Secretary Xi Jinping has personally led, deployed and promoted the work of comprehensively deepening reform, scientifically summarised historical experience, deeply grasped the laws of reform, and creatively put forward a series of new ideas, new viewpoints and new propositions using Marxist standpoints, viewpoints and methods, clearly answering major questions such as why we should comprehensively deepen reform in the new era and how to promote comprehensively deepening reform, providing a fundamental guideline for further comprehensively deepening reform. General Secretary Xi Jinping’s series of new ideas, new viewpoints and new propositions on comprehensively deepening reform not only have in common traits of Marxist theory, such as being political, people-oriented and practical, but also possess a strong sense of historical initiative, firm commitment to upholding principles while innovating, clear problem orientation, systematic strategic layout, profound humanistic concern, and a deep global vision. Party members and cadres should deeply study and understand General Secretary Xi Jinping’s series of new ideas, new viewpoints and new propositions on comprehensively deepening reform, grasp their rich connotations, theoretical characteristics and practical requirements, and further unify their thoughts and actions. 思想是行动和实干的旗帜。进一步全面深化改革、推进中国式现代化，走的是前人不曾走过的道路，必须有正确指导思想引领前行之路。只有坚持正确指导思想，改革才能既不走封闭僵化的老路，也不走改旗易帜的邪路，而是坚定不移走中国特色社会主义道路，不断推动社会主义制度自我完善和发展。《决定》提出“进一步全面深化改革的指导思想”，这对于进一步全面深化改革具有至关重要的作用。特别是改革行进到当下，我们面临的形势环境之复杂前所未有，肩负的改革发展稳定任务之艰巨前所未有，改革大船方向一定要准、行驶一定要稳，进一步全面深化改革的指导思想为改革行稳致远提供了“导航仪”。我们要按照进一步全面深化改革的指导思想指引的方向前行，任何时候都不能偏移、不能动摇。在进一步全面深化改革的指导思想中，习近平总书记关于全面深化改革的一系列新思想、新观点、新论断是其中最重要的内容。党的十八届三中全会以来，习近平总书记亲自领导、亲自部署、亲自推动全面深化改革工作，科学总结历史经验，深刻把握改革规律，运用马克思主义立场观点方法，创造性提出了一系列新思想、新观点、新论断，明确回答了新时代为什么要全面深化改革、怎样推进全面深化改革等重大问题，为进一步全面深化改革提供了根本遵循。习近平总书记关于全面深化改革的一系列新思想、新观点、新论断，不仅具有政治性、人民性、实践性等马克思主义理论共性特质，还具有强烈的历史主动、坚定的守正创新、鲜明的问题导向、系统的战略布局、深厚的人文观照、深邃的世界眼光等理论特质。党员干部要深入学习领会习近平总书记关于全面深化改革的一系列新思想、新观点、新论断，把握其丰富内涵、理论特质和实践要求，进一步统一思想和行动.
And much later, the author also adds:
Party members and cadres must deeply understand the decisive significance of the Two Establishments, resolutely implement the Two Safeguards’, persist in using Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era to unite hearts and forge souls, and thoroughly implement General Secretary Xi Jinping’s series of new ideas, new viewpoints, and new propositions on comprehensively deepening reform. On the basis of learning and understanding the spirit of the Third Plenary Session of the 20th CPC Central Committee, we must implement reforms with a spirit of perseverance and demonstrate our responsibility and action. On the basis of thoroughly studying and understanding the spirit of the Third Plenary Session, we must apply the spirit of driving nails to ensure the implementation of reforms, demonstrating responsibility and action. 党员干部要深刻领悟“两个确立”的决定性意义，坚决做到“两个维护”，坚持以习近平新时代中国特色社会主义思想凝心铸魂，深入贯彻落实习近平总书记关于全面深化改革的一系列新思想、新观点、新论断，在学深悟透党的二十届三中全会精神的基础上，以钉钉子精神抓好改革落实，彰显担当作为.
Towards the end, this bit is useful to note:
“The more than 300 major reform measures determined in the ‘Decision’ are all innovative measures, and many strategic deployments are mainly strategic, forward-looking, and directional, still requiring the formulation of thorough and feasible reform plans through exploration and innovation. This requires all regions, departments and Party members and cadres to implement the spirit of the CPC Central Committee to the letter, closely integrate the actual situation, adapt to local conditions, explore and innovate to implement reforms well, and create fresh experiences that can be replicated and scaled.” 《决定》确定的300多项重大改革举措都是创新性举措，许多战略部署主要是战略性、前瞻性、方向性的，还需要在探索创新中制定周密可行的改革方案。这就要求各地区各部门和广大党员干部在不折不扣贯彻落实好党中央精神的基础上，紧密结合实际，因地制宜，探索创新抓好改革落实，创造可复制、可推广的新鲜经验.
“Exploration and innovation, along with daring to act and be effective, are proactive actions based on a deep understanding of the guiding ideology, overall goals, and key principles of further comprehensively deepening reform. They are creative actions following a deep understanding of the Party Central Committee's strategic deployment intentions. They are scientific actions that follow the laws of comprehensively deepening reform and building Chinese-style modernization. This is an inherent part of being resolute practitioners and doers. Only by exploring and innovating, and daring to act effectively, can we prevent mere copying in implementation, superficiality from top to bottom, and avoid mechanical execution, oversimplification, and ‘one-size-fits-all’ approaches. To explore and innovate for effective reform implementation, it is necessary to promote positive interaction and organic integration between top-level design and grassroots exploration…” 探索创新、敢作善为，是在深刻把握进一步全面深化改革的指导思想、总目标、重大原则等基础上的主动作为，是在深刻领会党中央战略部署意图之后的创造性作为，是遵循全面深化改革和中国式现代化建设 规律的科学作为，这是当好坚定行动派、实干家的题中应有之义。 只有探索创新、敢作善为，才能防止在落实中照抄照搬、上下一般粗，避免机械执行、简单化、“一刀切”。 探索创新抓好改革落实，要推动顶层设计和基层探索良性互动、有机结合.
Finally, there’s a report (English report) informing that China saw 107 million domestic trips made during the Mid-Autumn Festival holiday, showing a 6.3 percent increase compared to the same period in 2019, based on comparable terms.
Page 2: There’s a report on the life and times of 93-year-old Huang Zongde, who is a veteran of the War to Resist United States Aggression and Aid Korea.
Page 3: Some foreign affairs-related reports on the page. First, Foreign Minister Wang Yi met with a delegation led by Kim Tae-nyeon, president of the South Korea-China Parliamentarians’ Union, on Wednesday. Xinhua says:
Wang said that “he appreciated the contributions the union has made to promoting the friendship between the two countries. Wang said China and the Republic of Korea (ROK) should be good neighbors with mutual trust and good partners that undertake mutually beneficial cooperation, no matter how the international or regional situations change. Noting the continuity and stability of China’s policy toward the ROK, Wang expressed the hope that the ROK side would meet China halfway, consolidate political mutual trust and push for the sustained, steady and sound development of China-ROK relations. China is willing to study measures to facilitate personnel exchange between the two countries further, and welcomes people from all walks of life in the ROK to visit the country, Wang said. It stands ready to expand comprehensive and mutually beneficial cooperation with the ROK, work together to safeguard the principles of free trade, and maintain stable, unimpeded production and supply chains, he added.
Kim and other lawmakers in attendance said the union stands ready to join hands with the Chinese side to strengthen strategic communication, increase personnel exchange, tap into cooperation potential and promote the ROK-China friendship. They also said that the union is willing to adhere to multilateralism and safeguard free trade alongside China, and to jointly promote peace and stability in Northeast Asia”.
Second, there’s a report on He Lifeng’s call with British Chancellor of the Exchequer Rachel Reeves on enhancing trade and economic cooperation. Xinhua says:
He said that “China is ready to work with Britain to implement the important consensus reached by the leaders of the two countries, and restart the China-UK Economic and Financial Dialogue. China is also willing to strengthen the alignment of development strategies with Britain, promote trade and investment liberalization and facilitation, and expand cooperation in finance, green economy, biomedicine and artificial intelligence, among others, he noted. Reeves, who leads the British side to the dialogue, said that Britain is willing to strengthen dialogue and cooperation with China to lay a stable and lasting foundation for the development of long-term and mutually beneficial relations between the two countries.”
Third, there’s a brief report (detailed report) on ILD chief Liu Jianchao meeting with a visiting delegation from the Maldives. The delegation is led by Minister of Transport and Civil Aviation Mohamed Ameen.
Liu said that:
“China is willing to work with Maldives to implement the important consensus reached by the two heads of state, adhere to mutual respect, listen to the voice of the people, strengthen political dialogue, deepen practical cooperation, and jointly promote the development and prosperity of the region and countries of the Global South. The Communist Party of China maintains friendly exchanges with all major political parties in Maldives, including the People’s National Congress Party and the Progressive Party of Maldives. China is willing to continue to deepen political dialogue with Maldivian political parties, strengthen exchanges of experience in party and state governance, and enhance mutual understanding and friendship between the peoples.” 刘建超表示，中马是友好邻邦。今年是习近平主席对马尔代夫进行历史性国事访问十周年，年初穆伊兹总统来华访问，两国领导人将中马关系提升为全面战略合作伙伴关系，为下阶段双边关系发展指明了方向。中方愿同马方共同落实好两国元首达成的重要共识，坚持相互尊重，倾听人民呼声，加强政治对话，深化务实合作，共促本地区及“全球南方”国家发展繁荣。中国共产党同包括人民国家大会党和进步党在内的马主要政党均保持友好往来。中方愿继续同马政党深化政治对话，加强治党治国经验交流，增进彼此相互理解和人民之间的友谊.
As per the report, Ameen said that Maldives is “willing to continue to strengthen cooperation with China in the fields of transportation, development, finance, etc., further facilitate economic and trade and cultural exchanges, and welcome more Chinese tourists to visit Malaysia. The People’s National Congress Party is willing to work with the Communist Party of China to implement the important consensus reached by the two heads of state, strengthen strategic communication, deepen exchanges of experience in governance, and strengthen multilateral coordination to better promote regional development.” 阿明表示，马中长期保持友好关系，在两国元首亲自关心下，马中务实合作成果丰硕，感谢中方长期以来对马经济社会发展提供的大力支持，愿同中方继续加强交通、发展、金融等领域合作，进一步便利经贸和人文往来，欢迎更多中国游客赴马观光游览。马人民国家大会党愿同中国共产党共同落实好两国元首重要共识，加强战略沟通，深化治国理政经验交流，密切多边协调，更好促进地区发展.
Page 10: There’s an article by the Theory Study Center of the Party Group of the Development Research Center of the State Council. The article talks about building a high-level socialist market economic system. They key tasks that it outlines are:
The core issue in building a high-level socialist market economic system is to properly handle the relationship between the government and the market. Letting the market play a decisive role in resource allocation and better leveraging the role of the government are important practical experiences formed in the process of China’s reform. To unlock the potential of the socialist market economy system at a higher level, the market mechanism must be utilised more effectively, ensuring that property rights serve as effective incentives, factors flow freely, prices respond flexibly, competition is fair and orderly, and successful enterprises thrive while weaker ones are eliminated. At the same time, the government’s ability to govern the macroeconomy must be enhanced to better maintain market order, address market failures, and ensure smooth circulation of the national economy, smooth the circulation of the national economy, so as to do both ‘let it live’ and ‘maintain control’. 构建高水平社会主义市场经济体制的核心问题是处理好政府和市场关系。让市场在资源配置中起决定性作用，更好发挥政府作用，是我国改革中形成的重要实践经验。在更高水平上释放社会主义市场经济体制潜力，要更好发挥市场机制作用，确保产权有效激励、要素自由流动、价格反应灵活、竞争公平有序、企业优胜劣汰。同时，要增强政府宏观经济治理能力，更好维护市场秩序、弥补市场失灵，畅通国民经济循环，既“放得活”又“管得住”.
The key points that then follow are:
Adhere to and implement the two unwaverings. “Public ownership is the main body, and the common development of multiple ownership economies is an important part of the socialist basic economic system. The leading role of the state-owned economy in the national economy is an essential requirement of a socialist state. It is necessary to actively implement the Decision by concentrating state capital in key industries and sectors related to national security and the lifeblood of the national economy, in public services, emergency capabilities, and public welfare areas, and in forward-looking, strategic emerging industries. This requires deepening the reform of state-owned assets and enterprises, establishing a system for optimising the layout and structural adjustment of the state-owned economy, and improving the system and mechanism that promote state-owned enterprises focusing on their main responsibilities and core businesses. The private economy is an inherent element of China’s economic system and an important force in promoting the development of the socialist market economy. However, there are still problems such as unequal market access and the failure to effectively protect legitimate rights and interests. It is necessary to accelerate the implementation of the ‘principles and policies that help foster a favorable environment and create more opportunities for the development of the non-public sector’ put forward in the ‘Decision’ to ensure equal access to factors and business activities after access. Guide private enterprises to improve corporate governance, strengthen the compliance and legal operation of private enterprises, and promote the private economy to better play an important role in stabilizing growth, maintaining employment, and promoting innovation within the framework of the socialist market economic system.” 坚持和落实“两个毫不动摇”，促进各种所有制经济优势互补、共同发展。公有制为主体、多种所有制经济共同发展是社会主义基本经济制度的重要内容。国有经济在国民经济中发挥主导作用是社会主义国家的本质要求，需要积极落实《决定》提出的推动国有资本向关系国家安全、国民经济命脉的重要行业和关键领域集中，向关系国计民生的公共服务、应急能力、公益性领域等集中，向前瞻性战略性新兴产业集中的要求，深化国资国企改革，建立国有经济布局优化和结构调整指引制度，健全促进国企聚焦主责主业的体制机制。民营经济是我国经济制度的内在要素，是推动社会主义市场经济发展的重要力量，但还存在市场准入后不平等、合法权益未能得到有效保护等问题。需要加快落实《决定》提出的“坚持致力于为非公有制经济发展营造良好环境和提供更多机会的方针政策”，保障准入后平等获取要素和开展经营活动。引导民营企业完善公司治理，强化民营企业合规合法经营，推动民营经济在社会主义市场经济体制框架内更好发挥稳增长、保就业、促创新等方面的重要作用。
Build a unified national market. Under this, the article points to the fact that “the construction of a national unified factor market faces problems such as local investment promotion involution, imperfect factor price formation mechanisms, insufficient social security connections, and imperfect free flow mechanisms for factors like land and data. The construction of a national unified product market faces issues such as local protectionism, market access barriers, different treatments for different ownership systems, monopolies, and unfair competition.” 当前，构建全国统一的要素市场面临地方招商内卷，要素价格形成机制不健全，社会保障衔接不够，土地、数据等要素自由流动机制不完善等问题。构建全国统一的产品市场面临地方保护、市场准入障碍、不同所有制待遇不同、垄断和不公平竞争等问题。It proposes that: we must strengthen the rigid constraints of fair competition review and intensify anti-monopoly and anti-unfair competition efforts…standardise local laws and regulations on attracting investment, and prohibit giving preferential policies in violation of laws and regulations. Establish and improve a unified, standardized and information-sharing public resource trading platform system such as bidding and procurement by the government, institutions and state-owned enterprises, achieving full-process open management of projects. Improve the regulatory mechanism for new economic organizations such as platforms. Improve the land, capital, technology, and data markets, improve the price mechanism of factors mainly determined by market supply and demand, and prevent the government from improperly intervening in price formation. Promote pricing reforms in water, energy, transportation and other fields to achieve more efficient allocation of factor resources. 要按照《决定》部署，加强公平竞争审查刚性约束，强化反垄断和反不正当竞争。规范地方招商引资法规制度，严禁违法违规给予政策优惠行为。建立健全统一规范、信息共享的招标投标和政府、事业单位、国有企业采购等公共资源交易平台体系，实现项目全流程公开管理。完善对平台等新经济组织的监管机制。健全土地、资本、技术和数据市场，完善主要由市场供求关系决定要素价格机制，防止政府对价格形成的不当干预。推动水、能源、交通等领域价格改革，实现要素资源更高效的配置。
Ensure fair competition in the market.
Improve the macroeconomic governance system. Under this, the article calls to “improve the national strategic planning system and policy coordination mechanism, promote the coordinated efforts of planning, finance, currency, industry, price, employment and other policies, and bring both economic policies and non-economic policies into the consistency assessment of macroeconomic policy orientation to improve the comprehensive efficiency of macroeconomic regulation and control…deepen the reform of the fiscal and taxation system, improve the budget system, optimise the tax structure, increase local independent financial resources, improve the financial transfer payment system and improve the government debt management system. Accelerate the improvement of the central banking system, smoothen the transmission mechanism of monetary policy, improve the capital market function of coordinating investment and financing, improve the financial supervision system, and improve the financial system’s ability to serve the real economy and prevent and resolve risks. Improve the accounting system of statistical indicators to provide basic support for macroeconomic governance. 要按照《决定》部署，通过持续完善国家战略规划体系和政策统筹协调机制，推动规划、财政、货币、产业、价格、就业等政策协同发力，把经济政策和非经济性政策都纳入宏观政策取向一致性评估，提高宏观调控的综合效能。通过深化财税体制改革，健全预算制度，优化税制结构，增加地方自主财力，完善财政转移支付体系，健全政府债务管理制度。通过深化金融体制改革，加快完善中央银行制度，畅通货币政策传导机制，健全投资和融资相协调的资本市场功能，完善金融监管体系，提高金融体系服务实体经济和防范化解风险的能力。完善统计指标核算体系，为宏观经济治理提供基础支撑.
Other Stories:
First, Euractiv reports that Chinese Commerce Minister Wang Wentao and EU Trade Commissioner Valdis Dombrovskis are set for tough talks on Thursday ahead of a pivotal vote by EU member states next week.
“Wang’s visit, which follows whistle-stop trips to Germany and Italy earlier this week, is a last-ditch effort ahead of a vote next Wednesday (25 September) on whether to definitively implement the EU executive’s proposed duties of up to 35.3% on electric vehicles (EVs). According to reports by the China Chamber of Commerce to the EU (CCCEU), Wang told Chinese and European automakers at a meeting in Brussels on Wednesday (18 September) that China-EU trade ties are now at a ‘crossroads’, with ‘one path leading to openness and collaboration [and] the other to protectionism and isolation’. Commission spokesperson Olof Gill told Euractiv on Wednesday that the European Commission remains ‘open to a negotiated solution […] provided that such a solution is adequate and effective in addressing the risk of injury to EU industry that we established in our investigation.’ The European Commission argues the tariffs are necessary to protect European automakers against unfairly subsidised Chinese competitors.”
The report adds:
“Fifteen of the EU’s 27 member states, representing at least 65% of the union’s population, must vote against the tariffs to prevent their introduction for five years starting from the end of October. Germany abstained in an initial non-binding vote on the proposed duties held in early July, while Spain voted in favour. Only four member states voted against it. Beijing’s push to persuade European capitals to vote against the tariffs reportedly yielded some success over the past week. Spanish Prime Minister Pedro Sánchez and German Chancellor Olaf Scholz both supported Beijing’s call for a negotiated solution to the dispute. However, one person familiar with the matter told Euractiv that Germany will likely abstain again next week unless a block is likely to be achieved. But on Monday, Italian Foreign Minister Antonio Tajani said after a meeting with Wang that Rome will continue to ‘support the position of the EU’.”
Second, on Wednesday, the Chinese Foreign Ministry announced a decision to impose countermeasures against nine US military companies for arms sales to Taiwan. Xinhua reports:
“Pursuant to Articles 3, 4, 6, 9 and 15 of China's Anti-Foreign Sanctions Law, China decided to take the following countermeasures against Sierra Nevada Corporation, Stick Rudder Enterprises LLC, Cubic Corporation, S3 AeroDefense, TCOM, Limited Partnership, TextOre, Planate Management Group, ACT1 Federal and Exovera: Their movable, immovable and all other types of property in China will be frozen. Organizations and individuals in China will be prohibited from engaging in transactions, cooperation or other activities with the above-mentioned enterprises. The decision will become effective from Sept. 18, 2024.”
“In response to a query concerning recent U.S. plans to sell arms to China's Taiwan region, Chinese foreign ministry spokesperson Lin Jian told a press briefing that U.S. arms sales to Taiwan seriously violates the one-China principle and the three China-U.S. joint communiques, particularly the August 17 Communique of 1982; seriously violates China's sovereignty and security interests; damages China-U.S. relations as well as peace and stability across the Taiwan Strait; and sends an erroneous signal to ‘Taiwan independence’ separatist forces. ‘China strongly condemns and firmly opposes this, and has lodged stern representations with the U.S. side. China has taken firm countermeasures and announced that it will impose sanctions on nine U.S. military companies,’ he said. The United States continues to arm Taiwan, supporting Lai Ching-te and Taiwan's Democratic Progressive Party (DPP) authorities in their stubborn pursuit of ‘Taiwan independence’ and their provocations regarding the one-China principle, Lin noted. This once again proves that the biggest threat to peace and stability across the Taiwan Strait and the greatest saboteur of the status quo across the Taiwan Strait are the separatist activities of ‘Taiwan independence’ forces and the conniving support of external forces led by the United States, he added. It should be noted that the DPP authorities are attempting to seek ‘Taiwan independence’ through military build-up, and the United States is determined to help advance that agenda by arming Taiwan, Lin said, adding that any such actions will only backfire and lead to disastrous consequences, ultimately ending in failure, Lin said. He stressed that the Taiwan question is at the heart of China's core interests, and it is the most important red line that cannot be crossed in China-U.S. relations. No one should underestimate China’s firm will and strong ability to oppose ‘Taiwan independence’ and defend its national sovereignty and territorial integrity.”