NewzIntel.com

Category: China

  • MIL-OSI China: Sibos conference reveals China’s financial openness

    Source: China State Council Information Office

    Photo taken on Oct. 3, 2022 shows the view of skyscrapers of the Central Business District (CBD) at dusk in Beijing, capital of China. [Photo/Xinhua]

    The Swift International Banker’s Operation Seminar 2024 (Sibos 2024) opened Monday in Beijing, a milestone demonstrating the country’s openness in the finance sector as it is the first time the Chinese capital has hosted the event.

    Over 10,000 participants from more than 150 countries and regions have gathered for Sibos 2024, which covers a wide range of topics, including payments, digital assets, trade financing, artificial intelligence and sustainable finance.

    The forum also has an exhibition area covering 133 financial institutions and third-party organizations, such as J.P. Morgan, Citibank, HSBC and ICBC.

    Lu Lei, deputy governor of the People’s Bank of China (PBOC), said at the opening ceremony that China has removed foreign ownership restrictions on banking, securities and insurance, attracting over 110 foreign financial institutions to operate in the country.

    The PBOC will expand the interconnectivity of domestic and international financial markets, further support excellent Chinese companies in listing and issuing bonds overseas, and encourage China’s sovereign wealth funds, financial institutions and other business entities to invest overseas, Lu said.

    He also noted that the PBOC will support qualified global banking institutions to join the Cross-border Interbank Payment System (CIPS), facilitating the clearance of cross-border RMB transactions.

    Javier Pérez-Tasso, chief executive officer of Swift, highlighted the rapid economic development in China and the corresponding growth of Swift’s business in the country. Swift is collaborating closely with CIPS and other entities to ensure the security of global finance and payments, the CEO said.

    Rani Gu, managing director and head of Payments, Greater China at J.P. Morgan, said the conference will foster communication and cooperation between China and top financial institutions around the world, further promoting the interconnectivity of the global financial industry and contributing to the further openness of China’s financial market.

    Bill Winters, group chief executive of Standard Chartered, said China is at the heart of the global trade and cross-border payments.

    The opportunity to be in China — looking at the global payments infrastructure through the lens of the Chinese market and from a Chinese perspective — is a special opportunity for Standard Chartered and could not be more timely, he said.

    The annual conference will run until Oct. 24 at the China National Convention Center.

    MIL OSI China News –

  • MIL-OSI China: Experts praise China’s expanding role in global IP governance

    Source: People’s Republic of China – State Council News

    China is becoming increasingly active in global intellectual property (IP) governance, playing a key role in promoting balanced protection and innovation, according to experts at the 2024 AIPPI World Congress. The event, themed “Balanced Protection and Innovative Development of IP Rights,” is being held for the first time in China, in Hangzhou, with participants from 92 countries and regions.

    MIL OSI China News –

  • MIL-OSI China: Daxing airport handles over 40M passenger trips this year

    Source: China State Council Information Office 3

    Passenger throughput at Beijing Daxing International Airport reached 40.01 million this year as of Sunday, up 28.1 percent from the same period last year, the airport said Monday.

    It was the first time that the airport witnessed its annual passenger throughput exceed 40 million since it kicked off operations on Sept. 25, 2019.

    As of Sunday, some 262,100 flights had departed from or arrived at the airport in 2024.

    By the end of September, 43 domestic and international airlines had operated a total of 216 air routes from Daxing airport, connecting 197 destinations.

    MIL OSI China News –

  • MIL-OSI China: ​Tearjerker movie delivers ‘BIG’ healing power

    Source: China State Council Information Office 3

    “BIG,” a new motion picture from renowned filmmaker Wei Te-Sheng, premiered in Beijing on Oct. 16. With its heartrending storyline that moved the premiere’s audience to tears, the film expresses a message of cherishing every precious moment.

    Actor Cheng You-Fei and director Wei Te-Sheng pose for a photo at the premiere for “BIG” in Beijing, Oct. 16, 2024. [Photo courtesy of Alibaba Pictures]

    The film, set in a pediatric oncology ward, tells the tragic yet heartwarming story of six children who are battling cancer and how they, their families and hospital staff navigate their diagnoses and treatments while still finding ways to live life to the fullest. 

    Highlighting the children’s courage and faith in the face of mortality, “BIG” emphasizes the value of life and the message that “Being is Gift,” abbreviated as BIG, which, as the film’s title, resembles the ward’s number: 816.

    At the Beijing premiere, Wei poignantly reflected on his experiences while preparing for the film: “In the pediatric oncology ward, I did not see a single child who did not want to live.” He added, “I hope that through this film, I can impart some strength to everyone, enabling them to be stronger and more resilient when facing difficulties.”

    “BIG” is a film Wei wanted to make since a long time ago, addressing topics he has yearned to explore, including family dynamics, vitality, universal values and youth.

    “And I also want to stress that although these ill children may look weak and small, they have big and strong hearts. Their willingness to live on and fight is BIG! We hope we can call them warriors from now on when we meet these children, because they deserve our respect and pride,” Wei said at the premiere.

    On stage at the Beijing premiere, Wei was joined by Cheng You-Fei, one of the film’s young actors, to interact with the audience, who were deeply touched after the advanced screening. 

    Cheng revealed that she was initially reluctant to take on the role of Yuanyuan, one of the children battling cancer, because it required her to shave off her hair. “I’ve always cherished my hair,” she said. “But after listening to the director’s explanation on the plot, I was deeply moved. He told me that I was not just making a movie, but also doing something meaningful, helping those who cherish life to bravely face challenges.”

    Besides the use of live acting, the film also uses 2D animation when portraying the children’s head-on battle with cancer. Wei revealed that for creating the 2D animation scenes, he enlisted a notable team, including Takumi Tanji, art director for Makoto Shinkai’s “Your Name” and “Suzume,” and other international talents from Japan and Italy. Wei chose animation to depict the children’s battle with cancer because, despite the arduous process, he wanted to avoid a somber tone. Instead, he aimed to reflect the children’s perspectives, using clean, bright and warm animation to illustrate their optimistic and positive attitudes during treatment.

    A film poster for “BIG.” [Photo courtesy of Alibaba Pictures]

    Wei is a filmmaker known for creating some of the most profitable films of all time in Taiwan, such as “Cape No. 7,” the highest-grossing film on the island. 

    “BIG” has been released across the mainland since Oct. 19.

    MIL OSI China News –

  • MIL-OSI China: Debut economy drives new growth in China’s consumer market

    Source: People’s Republic of China – State Council News

    China’s beloved animation series “Boonie Bears” is expanding its reach. The world’s first “Boonie Bears”-themed shopping mall has opened in Shenzhen, Guangdong Province and it’s attracting many new brands. This concept is part of the growing debut economy, which includes new business models, innovative services, and unique retail experiences.

    MIL OSI China News –

  • MIL-OSI China: Officials strive for quality elder care

    Source: People’s Republic of China – State Council News

    Authorities are stepping up efforts to promote the healthy development of the elder care sector in China, officials said.

    Li Yongxin, deputy director of the elder care service department at the Ministry of Civil Affairs, said during a news conference that the number of elderly care facilities in China had surged to around 410,000 by June, with 369,000 of them community-based. This represents a 100 percent increase in elderly care facilities and a 120 percent increase in community-based ones since 2019.

    The expansion and a recent crackdown are part of a broader initiative to address the challenges posed by China’s rapidly aging population and fraudulent practices in facilities designed to help seniors.

    “The ministry has strengthened its policy framework, diversified care options and enhanced regulatory measures, resulting in significant improvements in elderly care services,” Li said.

    Li added that legislative efforts are underway to create a law outlining the responsibilities of elder care service providers, with the goal of better protecting seniors’ rights. The move is a response to widespread concerns about financial scams targeting the elderly, including fraudulent schemes disguised as membership fees or unauthorized financial products being offered by some retirement homes.

    In 2022, a government crackdown on elder care fraud led to the arrest of 66,000 suspects and the recovery of 30.8 billion yuan ($4.3 billion) in stolen funds. Last year, an additional 33,000 suspects were apprehended.

    Along with fraud prevention, authorities are conducting inspections to reduce fire risks, improve building safety and create a more secure environment for seniors. The National Health Commission estimates that 78 percent of China’s elderly people have at least one chronic illness, and roughly 40 million seniors are disabled or semidisabled and require intensive care.

    Meanwhile, despite the growing number of elder care facilities, China still faces a shortage of caregivers, with only 500,000 currently available to meet the country’s needs. To fill the gap, authorities are promoting home-based care that allows seniors to stay in their homes while receiving regular visits from community workers and medical professionals.

    Since 2021, approximately 350,000 seniors have benefited from home-based care, with 650,000 home visits conducted, according to the ministry.

    By the end of 2023, nearly 300 million Chinese citizens were age 60 or older. By 2050, that number is expected to grow to one-third of the population.

    MIL OSI China News –

  • MIL-OSI China: FTZ reforms deepen China-ASEAN economic, trade ties

    Source: People’s Republic of China – State Council News

    NANNING, Oct. 22 — In a bustling fruit processing facility in south China’s Guangxi Zhuang Autonomous Region, the air is sweet with the luscious aroma of mangoes. Workers diligently manage a state-of-the-art, fully automated production line, preparing to send delectable products to eager markets across Southeast Asia.

    In recent years, with the deepening of economic cooperation and the trade exchange of agricultural products between China and the Association of Southeast Asian Nations (ASEAN), the complementary advantages of agricultural products trade between Guangxi and ASEAN have become more prominent. The geographical advantages of land and sea links with ASEAN have also injected vitality into the continuous expansion of Guangxi’s fruit exports.

    According to data from Nanning Customs, in 2023, Guangxi imported 16.71 billion yuan (about 2.4 billion U.S. dollars) of ASEAN agricultural products, a year-on-year increase of 43.1 percent. At the same time, Guangxi’s special fruits, such as orah mandarins and sweet tangerines, have also been well received in the ASEAN market.

    The thriving fruit trade has also spurred related companies to invest and establish their operations in Guangxi.

    Guangxi Junyi Agricultural Science and Technology Co., Ltd, a mango-processing company established in 2020 in the Chongzuo area in the China (Guangxi) Pilot Free Trade Zone (FTZ), is the region’s first border-based fruit processing enterprise with an annual main business turnover of at least 20 million yuan.

    “The pilot FTZ’s policies, including tax incentives, streamlined trade procedures and financial innovations, have not only laid fertile ground for growth but also provided substantial cost benefits to businesses,” said Shen Wuyang, the company’s deputy general manager.

    Guangxi, often described as China’s gateway to ASEAN, has risen to the forefront of China’s trade and cooperation with ASEAN in recent years, thanks to the establishment of the pilot FTZ.

    In 2019, the pilot FTZ was established to promote China’s opening up to ASEAN and to pilot new mechanisms in China-ASEAN cooperation. Since its inception, the pilot FTZ has proven to be a powerhouse, taking up a 37.7 percent share of Guangxi’s total foreign investment and a notable 38.6 percent share of the region’s foreign trade volume.

    The pilot FTZ comprises the Nanning area in the region’s capital city, the Qinzhou Port area along the coast and the Chongzuo area bordering Vietnam.

    The Chongzuo area is home to Youyiguan Port, or Friendship Pass, one of China’s busiest land ports for the trade of fruit.

    Thanks to the development of economic and trade relations between China and ASEAN, Youyiguan Port’s cargo clearance efficiency has doubled.

    “Our cargo predominantly goes to Southeast Asia, with Vietnam taking up 80 percent of our shipments and the remainder being distributed to places like Malaysia and Thailand,” noted Wang Shuqing, operations supervisor of a supply chain management company in Guangxi.

    The zone’s Nanning area focuses on the development of modern finance, the digital economy and modern services. It is pioneering innovation in cross-border finance and renminbi businesses, especially those working with ASEAN nations.

    “Previously, cross-border transactions between Guangxi and Indonesian companies involved an intermediate step of converting RMB to U.S. dollars before changing it to Indonesian rupiah. Now, we can achieve direct settlements,” said Bai Lili, deputy general manager of a China CITIC Bank branch located in the Nanning area of the pilot FTZ.

    As the pilot FTZ’s only coastal area, Qinzhou Port Area is establishing itself as a high-level gateway port that facilitates the transportation of cargo between China and ASEAN.

    According to Ye Jun, an official with the administrative committee of Qinzhou Port Area, the industrial focus of the area is on petrochemical projects, with quite a number of petrochemical enterprises having already set foot in raw material and preliminary processing in ASEAN countries.

    So far, more than 38,000 new enterprises have been established in Qinzhou Port Area, including 355 foreign-funded companies. Among the over 150 industrial projects operational or under construction, the area has attracted investments exceeding 300 billion yuan and is home to four enterprises with annual outputs of over 10 billion yuan.

    MIL OSI China News –

  • MIL-OSI China: Xi leaves for 16th BRICS Summit in Russia

    Source: People’s Republic of China – State Council News

    BEIJING, Oct. 22 — Chinese President Xi Jinping left Beijing on Tuesday for the 16th BRICS Summit in Kazan, Russia, at the invitation of President of the Russian Federation Vladimir Putin.

    Xi’s entourage includes Cai Qi, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and director of the General Office of the CPC Central Committee, and Wang Yi, a member of the Political Bureau of the CPC Central Committee and foreign minister.

    MIL OSI China News –

  • MIL-OSI USA: Murphy, Young Urge President Biden To Protect Undersea Cables From China, Russia

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    October 21, 2024

    WASHINGTON—U.S. Senators Chris Murphy (D-Conn.) and Todd Young (R-Ind.), members of the U.S. Senate Foreign Relations Committee, on Monday led 6 of their Senate colleagues in sending a bipartisan letter to President Biden expressing concerns about the security of the global network of undersea communications and energy cables upon which American workers and businesses rely.
    More than 95% of international internet traffic travels via these undersea cables, resulting in trillions of dollars in financial transactions each day. The locations of these cables are often openly published to prevent accidental damage.
    As American companies look to expand and invest in this critical infrastructure, it is imperative that the United States has a complete understanding of existing vulnerabilities, especially those that impact our economic and national security.
    “America’s adversaries have been developing their capabilities to attack or disrupt critical undersea infrastructure. There is a long tradition, dating back well over a century, of belligerents attacking their opponents’ underwater communications lines in the first phase of a conflict,” the senators wrote. “Given these threats and challenges, it is imperative that the United States undertake a review of existing vulnerabilities to global undersea cable infrastructure, including the threat of sabotage by Russia as well as the growing role of the People’s Republic of China in cable laying and repair. If we are truly to deepen vital commercial and security relationships with willing partners and allies, this must be a national priority.”
    U.S. Senators Marco Rubio (R-Fla.), Tim Kaine (D-Va.), Pete Ricketts (R-Neb.), Jeanne Shaheen (D-N.H.), Dan Sullivan (R-Alaska), and Brian Schatz (D-Hawaii) also signed the letter.
    Full text of the letter is available HERE and below:
    Dear Mr. President: 
    We write to you to express our concern about the security of global undersea communications and energy cables, especially those that impact America’s economic and national security and that of our allies and partners. As you are well aware, more than 95% of international internet traffic travels via undersea cables, including trillions of dollars in financial transactions each day. Moreover, the exact locations of most of these cables are openly published in order to reduce the likelihood of accidental damage from ships’ anchors or fishing activities. Internet and telecommunications providers, including American firms, intend to invest billions of dollars in expanding the global network of undersea communications cables. Additionally, energy transmission cables are proliferating as governments look to new sources of electricity generation. 
    America’s adversaries have been developing their capabilities to attack or disrupt critical undersea infrastructure. There is a long tradition, dating back well over a century, of belligerents attacking their opponents’ underwater communications lines in the first phase of a conflict. For example, in both World Wars, Britain’s first naval actions were to cut the telegraph cables connecting Germany to the Americas, and in 1918 a German U-boat severed lines connecting New York to both Nova Scotia and Panama. In addition to this kind of overt, kinetic attack, the nature of undersea infrastructure increases the feasibility of gray zone actions with plausible deniability. It is difficult to distinguish between an accident and a deliberate action on the seabed, and more difficult still to confirm who conducted such an action. On top of this, because this infrastructure is privately owned by commercial enterprises, repairs are the responsibility of these private companies, which are likely not prepared to maintain them under wartime conditions and are likely to seek the most cost-effective repair and maintenance options—even if that option is owned or operated by a foreign adversary or strategic competitor. 
    Given these threats and challenges, it is imperative that the United States undertake a review of existing vulnerabilities to global undersea cable infrastructure, including the threat of sabotage by Russia as well as the growing role of the People’s Republic of China in cable laying and repair. If we are truly to deepen vital commercial and security relationships with willing partners and allies, this must be a national priority. We respectfully request that you provide responses to the following questions and direct senior administration officials to brief Members of Congress, including members of relevant committees of jurisdiction, on your plans and the resources and authorities needed to carry them out.
    What is your Administration’s overall strategy to guarantee the security of America’s undersea infrastructure and to promote the security of that of our allies and partners? 
    The National Defense Authorization Act for Fiscal Year 2020 established the Cable Security Fleet (CSF). If authorized and sufficiently funded, what would be your assessment of the ideal size of the U.S.-flagged and -operated cable laying and repair vessel fleet to ensure sufficient cable repair capacity during a conflict or national emergency? How can the United States work with trusted allies and partners for additional capacity to support the expansion and repair of trusted undersea cable networks? 
    What is the Administration’s strategy to encourage other nations to choose trusted suppliers in their selection of undersea cable manufacturers, particularly in any nation of concern or which may be vulnerable to coercion or covert action by America’s adversaries? 
    How is the Administration working with the private sector to ensure that commercial enterprises’ investments in undersea cables align with U.S. national security priorities? 
    How do you intend to protect the physical security of undersea cables in the open ocean, including through any interpretation of customary international law? 
    How is the Administration working multilaterally to collectively enhance security and monitor potential threats to undersea infrastructure, including through NATO, the Quad, and the Indo-Pacific Economic Framework for Prosperity? 
    Thank you for your prompt attention to this request. As Congress works to continue its oversight of national security, it is vital that we understand the current state of the information backbone of our economy and efforts to protect it. 
    Sincerely, 

    MIL OSI USA News –

  • MIL-OSI: EBC Financial Group Expands Partnership with DiNapoli’s Leading Indicators, Revealing Key Strategies for Navigating Black Swan Events

    Source: GlobeNewswire (MIL-OSI)

    TAIPEI, Taiwan, Oct. 22, 2024 (GLOBE NEWSWIRE) — EBC Financial Group (EBC), in partnership with DiNapoli Experts, is proud to host ‘Harnessing the Power of DiNapoli Indicators to Conquer Black Swan Events,’ an exclusive gathering that brought together financial experts, traders, investors, and economic strategists to explore key strategies for navigating volatile markets. This event, part of EBC’s broader commitment to thought leadership in finance, offered critical insights not only for traders but for those seeking a deeper understanding of global financial trends, including the impacts of geopolitical tensions, inflation, and the evolving role of technology in market prediction.

    Operating across global financial hubs such as London, Hong Kong, Tokyo, Singapore, and Sydney, EBC Financial Group is regulated by major international bodies, including the UK’s FCA, CIMA in the Cayman Islands, and ASIC in Australia. These credentials underscore the Group’s mission to deliver sound, ethical, and transparent financial services across key markets.

    With markets facing challenges from geopolitical instability, rising inflation, and shifting monetary policies, EBC’s commitment to investor empowerment and education stands firm. The discussions provided participants with exclusive insights into managing risk and seizing opportunities in global markets, and attendees engaged with some of the industry’s top experts, gaining hands-on insights into critical factors influencing today’s global markets.

    Building on the momentum from the successful signing ceremony in Thailand, where EBC Financial Group solidified its partnership with DiNapoli’s Leading Indicators, the Taiwan event marks a key milestone in EBC’s ongoing mission. Through this collaboration, EBC is empowering traders with advanced tools to navigate Black Swan events.

    Global Instabilities Threaten Market Stability: Insights from David Barrett
    David Barrett, CEO of EBC Financial Group (UK) Ltd, issued a stark warning about the growing economic fragility facing global markets. Speaking to an audience of financial professionals, Barrett highlighted that the Federal Reserve’s recent rate cuts have unsettled bond markets, exposing deep vulnerabilities in the global financial system. While the U.S. equity market has enjoyed a brief rally, Germany’s economic downturn threatens to spiral into a wider Eurozone crisis, Barrett explained.

    Barrett emphasised that the risks extend far beyond economics. Geopolitical conflicts—from the ongoing war in Ukraine to instability in the Middle East—are now global flashpoints, disrupting energy supplies and pushing commodity markets toward dangerous levels of volatility. According to Barrett, this combination of factors could drag the global economy into deeper, more unpredictable volatility, leaving even experienced investors facing unprecedented uncertainty.

    As part of the Group’s mission to help investors navigate these turbulent markets, Barrett reiterated EBC’s focus on providing cutting-edge trading tools and educational initiatives. EBC’s partnership with DiNapoli Indicators is instrumental in equipping traders with the tools necessary to interpret market movements, especially in unpredictable environments. By combining advanced predictive tools like DiNapoli Indicators with real-time market analysis, EBC is ensuring that traders are not only informed but prepared to respond to global financial shifts.

    EBC’s expansion into emerging markets and its commitment to establishing regulated entities in new jurisdictions also reflect the Group’s dedication to offering clients access to global trading opportunities. With its rapidly growing footprint, EBC continues to lead with integrity and transparency, providing traders worldwide with the tools to manage risk effectively.

    As the U.S. presidential election approaches, Barrett warned that this divisive political battle could be another major destabilising factor for markets, as investors brace for shifting economic policies and potential political upheaval.

    “We are not just seeing market volatility; we are looking at a perfect storm where geopolitical tensions, inflation, and monetary policies are converging like never before,” Barrett cautioned. He urged investors and traders to take urgent action, adapting to this new reality with precision, foresight, and advanced tools like DiNapoli Indicators to help navigate through the uncertainty. Without this, Barrett stated, market participants risk being left behind in a financial environment that demands data-driven decision-making and the ability to manage complex risks.

    Capturing Trading Opportunities: Jason Zeng on DiNapoli Indicators
    At the event, Jason Zeng, General Manager of Fibonacci Investment Consulting, LLC, presented the critical role that DiNapoli Indicators play in helping investors identify key market retracement points and timing trades effectively. Zeng, a long-standing expert in DiNapoli-Levels trading, explained how these indicators are not just tools for predicting price movements, but vital systems for managing risk and profitability in highly volatile markets.

    Zeng focused on how the Fibonacci-based DiNapoli Levels have been successfully applied to forecast market retracements in a range of asset classes, including equities, commodities, and currencies. He cited recent examples where DiNapoli Indicators enabled traders to accurately pinpoint entry and exit points, even in the face of significant market fluctuations caused by geopolitical instability and central bank policy shifts.

    “Traders who rely on these indicators can enhance their risk management and improve trade execution,” Zeng said. He highlighted the use of real-world case studies, showing how DiNapoli’s approach has repeatedly outperformed traditional technical analysis by offering actionable insights during times of heightened uncertainty.

    Zeng stressed that in today’s fast-moving financial markets, timing is everything, and DiNapoli Indicators offer the precision necessary to navigate the complexities of modern trading environments. According to Zeng, these indicators are essential for traders and financial professionals aiming to capture opportunities while minimising exposure to unpredictable market swings.

    As EBC continues to expand its operations across emerging markets, it remains committed to providing global traders with tailored tools and educational resources, ensuring that they are equipped to navigate both local and international market dynamics.

    Capital Markets Under Pressure: Dr. Hua-Shen Pan on Geopolitical Risks and Economic Countermeasures
    Dr. Hua-Shen Pan, an esteemed economic analyst and columnist, delivered a pointed examination of the global geopolitical risks that are currently shaping capital flows and investment strategies. Addressing the audience, Dr. Pan highlighted how geopolitical volatility has become a primary driver of market instability, overshadowing traditional economic indicators.

    Dr. Pan drew attention to China’s economic trajectory, which he identified as a critical factor influencing the global financial system. As the Chinese government introduces new stimulus measures, the global financial community is watching closely to gauge the effectiveness of these policies in stabilising the world’s second-largest economy.

    He further explained how geopolitical flashpoints, including the ongoing conflict in Ukraine and instability in the Middle East, are exacerbating energy price shocks and complicating efforts by central banks to control inflation. Dr. Pan highlighted the growing disconnect between economic fundamentals and market reactions, pointing out that traditional models of economic forecasting are struggling to account for the disruptive influence of geopolitical events.

    Dr. Pan argued that while geopolitical tensions will continue to be a source of market volatility, investors must adapt by focusing on risk management and long-term strategies that account for unpredictable economic shifts. He highlighted the importance of understanding how global policy responses—from Federal Reserve actions to China’s economic policy—will shape the investment landscape in the years to come.

    “Markets are no longer simply reacting to economic data,” Dr. Pan observed. “We are now in an era where geopolitical conflicts are driving capital decisions, and this requires a new strategic approach.”

    Navigating Post-Fed Market Reactions: Joseph AuXano’s Key Insights
    Joseph AuXano, Director of the DiNapoli Online Course (DAP), addressed one of the most pressing concerns for market participants—the aftermath of Federal Reserve rate cuts and their impact on market dynamics. AuXano demonstrated how DiNapoli Indicators can be used to accurately assess market reactions following Fed decisions, offering traders a powerful tool to anticipate volatility and make informed decisions.

    Through a detailed analysis of recent FOMC meetings, AuXano illustrated how major stocks, including Tesla and Nvidia, responded to rate cuts. He demonstrated how the MACD Predictor and DiNapoli Expansion tools provide crucial early signals, enabling traders to identify high-probability trades by spotting key support and resistance levels in advance.

    AuXano emphasised the importance of using multi-timeframe analysis, highlighting that relying solely on short-term trends leaves traders vulnerable to unpredictable market swings. By incorporating the DiNapoli Indicators, investors are better equipped to navigate both short-term fluctuations and long-term trends.

    “After each Fed decision, markets are often thrown into chaos, with unpredictable movements. But by using these tools, traders can stay one step ahead, reading market signals more effectively,” AuXano explained.

    He added, “Today’s economic forum has provided valuable insights into the various factors impacting markets, reading the markets by observing how price interacts with DiNapoli Indicators gives traders and investors an additional edge when seeking to navigate market volatility. It’s about staying disciplined and structured, especially in today’s economic and political climate, where interest rate changes and central bank policies play a key role.”

    Mitigating Algorithmic Trading Risks: Insights from Rich Wang
    Rich Wang, CTO of Provider Space, delved into the growing reliance on algorithmic trading and the risks that come with automated systems in today’s financial markets. Wang’s presentation centred on the need for robust risk management strategies that ensure consistent profitability, even as markets become increasingly volatile.

    Wang highlighted the advantages and dangers of algorithmic trading, explaining that while automation can enhance trading efficiency and speed, it also exposes traders to greater risk if not properly managed. He shared real-world examples of how market volatility can trigger automated systems to make rapid, high-stakes trades that can spiral into significant losses without adequate safeguards in place.

    Wang stressed the importance of incorporating stop-loss mechanisms and conducting thorough backtesting of algorithms to prevent systems from failing during market disruptions. He underscored that risk management needs to evolve alongside trading technology, particularly as markets become more sensitive to geopolitical events and central bank policy shifts.

    “Automation can give traders an edge, but only when combined with solid risk management frameworks,” Wang said. He demonstrated how the latest risk mitigation strategies can be integrated into automated trading systems, allowing traders to maintain control and reduce their exposure to sudden market shocks.

    Wrapping Up the Event
    The event provided a wealth of strategic insights, equipping market participants with the tools and knowledge necessary to navigate today’s volatile financial landscape. From geopolitical risks to algorithmic trading and Fed rate-cut reactions, the symposium underscored the importance of using advanced technical indicators, like DiNapoli Levels, to manage risk and seize market opportunities.

    As the global economic outlook remains uncertain, EBC Financial Group continues to lead the conversation around financial resilience, offering investors and traders the necessary foresight to adapt to these evolving challenges.

    For more information, high-resolution images, or speaker materials, please contact:

    Media Contact:
    Angela Wu
    Global Public Relations (Taiwan)
    angela.wu@ebc.com

    Chyna Elvina
    Global Public Relations Manager (APAC, LATAM)
    chyna.elvina@ebc.com

    Douglas Chew
    Global Public Relations Lead
    douglas.chew@ebc.com

    About EBC Financial Group
    Founded in the esteemed financial district of London, EBC Financial Group (EBC) is renowned for its comprehensive suite of services that includes financial brokerage, asset management, and comprehensive investment solutions. EBC has quickly established its position as a global brokerage firm, with an extensive presence in key financial hubs such as London, Hong Kong, Tokyo, Singapore, Sydney, the Cayman Islands, and across emerging markets in Latin America, Southeast Asia, Africa, and India. EBC caters to a diverse clientele of retail, professional, and institutional investors worldwide.

    Recognised by multiple awards, EBC prides itself on adhering to the leading levels of ethical standards and international regulation. EBC Financial Group’s subsidiaries are regulated and licensed in their local jurisdictions. EBC Financial Group (UK) Limited is regulated by the UK’s Financial Conduct Authority (FCA), EBC Financial Group (Cayman) Limited is regulated by the Cayman Islands Monetary Authority (CIMA), EBC Financial Group (Australia) Pty Ltd, and EBC Asset Management Pty Ltd are regulated by Australia’s Securities and Investments Commission (ASIC).

    At the core of EBC Group are seasoned professionals with over 30 years of profound experience in major financial institutions, having adeptly navigated through significant economic cycles from the Plaza Accord to the 2015 Swiss franc crisis. EBC champions a culture where integrity, respect, and client asset security are paramount, ensuring that every investor engagement is treated with the utmost seriousness it deserves.

    EBC is the Official Foreign Exchange Partner of FC Barcelona, offering specialised services in regions such as Asia, LATAM, the Middle East, Africa, and Oceania. EBC is also a partner of United to Beat Malaria, a campaign of the United Nations Foundation, aiming to improve global health outcomes. Starting February 2024, EBC supports the ‘What Economists Really Do’ public engagement series by Oxford University’s Department of Economics, demystifying economics, and its application to major societal challenges to enhance public understanding and dialogue.

    https://www.ebc.com/

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/564383fa-f7de-4825-8a3d-d644cd768c51
    https://www.globenewswire.com/NewsRoom/AttachmentNg/fd1d9d72-b653-4979-ba30-f35bb4ed4402
    https://www.globenewswire.com/NewsRoom/AttachmentNg/f89d66ee-0f78-44df-8b49-fe8f8d96d3aa

    The MIL Network –

  • MIL-OSI China: MOFA affirms stance taken by US, Japan, Australia, India, and ROK at ASEAN summits underlining importance of peace and stability in South China Sea

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA affirms stance taken by US, Japan, Australia, India, and ROK at ASEAN summits underlining importance of peace and stability in South China Sea

    • Date：2024-10-12
    • Data Source：Department of East Asian and Pacific Affairs

    October 12, 2024
    No. 351

    The 44th and 45th summits of the Association of Southeast Asian Nations (ASEAN) took place in Vientiane, the capital of Laos, from October 6 to 11. During the meetings, the United States, Japan, Australia, India, the Republic of Korea, and other like-minded countries expressed concern about the situation in the South China Sea and underlined the importance of peace and stability in the region. The Ministry of Foreign Affairs (MOFA) welcomes and affirms these statements.

    A chorus of parties at the summits highlighted recent tensions in the South China Sea. US Secretary of State Antony Blinken, Australian Prime Minister Anthony Albanese, and Japanese Prime Minister Shigeru Ishiba voiced concern about escalating militarization and unlawful coercion in the region. They also pledged to work on maintaining freedom of navigation and overflight in the South China Sea. The joint statement from the ROK-ASEAN summit called on all parties to respect international law and settle disputes in accordance with the 1982 United Nations Convention on the Law of the Sea (UNCLOS). In his remarks, Indian Prime Minister Narendra Modi emphasized that peace, security, and stability were in line with the general interests of the Indo-Pacific region. MOFA affirms the positions of the above parties, which correspond with the policy that Taiwan has consistently promoted with regard to the South China Sea.

    Based on integrated diplomacy, Taiwan will continue to work with like-minded partners to uphold democracy, freedom, human rights, and other shared values. Taiwan urges all parties to abide by international law, UNCLOS, and related instruments to jointly defend the rules-based international order and advance peace, stability, and prosperity in the Indo-Pacific region. (E)

    MIL OSI China News –

  • MIL-OSI China: ROC (Taiwan) government donates US$800,000 to assist US with reconstruction efforts following Hurricane Helene

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    ROC (Taiwan) government donates US$800,000 to assist US with reconstruction efforts following Hurricane Helene

    • Date：2024-10-12
    • Data Source：Public Diplomacy Coordination Council

    October 12, 2024

    No. 350

    On the evening of September 26, category 4 Hurricane Helene hit Florida and continued on to ravage many other southeastern states in the United States, causing over 230 deaths and US$30 billion in damages thus far. The ROC (Taiwan) government is donating US$800,000 to assist local governments and residents with the recovery efforts, with US$300,000 earmarked for Florida and North Carolina each and US$200,000 for Georgia. It is hoped that these funds will help victims return to normal life as soon as possible. 

    As Taiwan is typically struck by typhoons every year in summer and fall, the people and government of Taiwan empathize with the people of the southeastern US regarding the great loss in life and property caused by Hurricane Helene. To promptly extend a helping hand, Taiwan’s offices in Miami and Atlanta will consult with related US agencies so that the funds will be publicly donated to special accounts dedicated to assisting local residents in reconstructing their homes. (E) 

    MIL OSI China News –

  • MIL-OSI China: Visit by Tuvalu Prime Minister Teo and Madame Teo concludes following National Day celebrations, successfully deepens staunch diplomatic alliance

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    Visit by Tuvalu Prime Minister Teo and Madame Teo concludes following National Day celebrations, successfully deepens staunch diplomatic alliance

    • Date：2024-10-13
    • Data Source：Department of East Asian and Pacific Affairs

    October 13, 2024
    No. 352

    A visit to Taiwan by Tuvalu Prime Minister Feleti Penitala Teo and Madame Tausaga Teo concluded as their delegation departed on the evening of October 12. Ministry of Foreign Affairs (MOFA) Department of East Asian and Pacific Affairs Director General Peter Sha-li Lan was present at the airport to bid farewell to the delegation on behalf of the government of Taiwan.

    In addition to meeting with President Lai Ching-te and attending a banquet hosted by Minister of Foreign Affairs Lin Chia-lung, Prime Minister Teo was a guest of honor at Taiwan’s National Day celebrations and associated functions.

    In his meeting with President Lai, Prime Minister Teo emphasized that Tuvalu cherished its 45-year alliance with Taiwan. He said that Tuvalu would continue to staunchly support Taiwan in expanding its international participation and speak up for Taiwan in the international arena, demonstrating the Tuvaluan government’s true friendship with Taiwan.

    Given the close cooperation on fisheries between Taiwan and Tuvalu and Prime Minister Teo’s many years of service in posts at international fisheries organizations, MOFA also organized a special itinerary that took Prime Minister Teo and his delegation south to Kaohsiung, Taiwan’s deep-sea fishing center. Prime Minister Teo met with Kaohsiung Mayor Chen Chi-mai to discuss a sister-city agreement between Kaohsiung and Funafuti, Tuvalu’s capital city, and attended a reception to interact with representatives from Taiwan’s deep-sea fisheries sector. The event successfully advanced connections between high-level Tuvaluan officials and Taiwan’s fisheries industry, laying a solid foundation for the deepening of bilateral fisheries cooperation going forward.

    As Tainan continues to celebrate its 400th anniversary of establishment throughout 2024, MOFA also arranged for Prime Minister Teo to visit the city once again. Deputy Mayor Yeh Tse-shan was present to welcome Prime Minister Teo and his delegation. During their stay in Tainan, the group paid a visit to Anping Old Fort, where Taiwan’s rich history and culture and the warm hospitality of the people of Tainan left a deep impression on the visitors.

    Tuvalu is a key ally of Taiwan in the Pacific. This visit—Prime Minister Teo’s second trip to Taiwan since taking office in February—proved to be greatly significant in terms of strengthening bilateral ties. Based on their solid existing foundation of cooperation in such areas as information and communication security, climate change adaptation, medicine and healthcare, women’s empowerment, and offshore fisheries, the two countries will continue to work together to advance the well-being of their peoples and jointly promote prosperity and development in the Indo-Pacific region. (E)

    MIL OSI China News –

  • MIL-OSI China: Foreign Minister Lin addresses Global Taiwan Institute; promotes integrated diplomacy and urges cooperation with US to advance regional prosperity and stability

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    Foreign Minister Lin addresses Global Taiwan Institute; promotes integrated diplomacy and urges cooperation with US to advance regional prosperity and stability

    • Date：2024-10-17
    • Data Source：Department of North American Affairs

    October 17, 2024 

    No. 355

    At the invitation of the Global Taiwan Institute (GTI), a think tank based in Washington, DC, Minister of Foreign Affairs Lin Chia-lung delivered a keynote address via a prerecorded video at its annual symposium held on October 16. He discussed the grave challenges authoritarian coalitions and expansionism pose to the international order and commended the United States for creating a strong and mutually reinforcing latticework of alliances. He said that Taiwan, as an indispensable member of the international community, hoped to promote integrated diplomacy and work with the United States to respond to a variety of challenges. 

     

    Minister Lin explained how China was ramping up military intimidation against Taiwan, in addition to legal, public opinion, and cognitive warfare. He indicated that China was deliberately using gray-zone tactics in an attempt to create a new normal across the Taiwan Strait, which seriously jeopardized peace and stability across the Taiwan Strait and the region. Minister Lin thanked the United States for its staunch commitment to supporting Taiwan’s security, as reflected in such assistance as foreign military financing and presidential drawdown authority in recent years. He affirmed that Taiwan had also been steadily increasing its defense budget as well as whole-of-society defense resilience and defense capabilities. 

     

    Minister Lin stated that the core of integrated diplomacy was the promotion of economic and trade partnerships based on mutual prosperity. He anticipated that through the Economic Prosperity Partnership Dialogue and other platforms Taiwan and the United States would continue to increase supply chain resilience and cooperation in critical areas. He noted that in line with the one plus one equals three concept, Taiwan and the United States could jointly facilitate development in third countries. He added that under the Global Cooperation and Training Framework cooperation with other nations could be expanded to respond to global issues and challenges, paving the way for Taiwan’s policy shift from consolidating diplomatic ties to bolstering the prosperity of diplomatic allies. Emphasizing that Taiwan needed the world and the world needed Taiwan, Minister Lin said that Taiwan would continue to work closely with the United States, allies, and partners to implement integrated diplomacy and expand Taiwan’s international presence. 

     

    GTI was the first think tank in Washington, DC, to focus on Taiwan-related research. The theme of this year’s symposium was “US-Taiwan Relations: An Ironclad Partnership in a Period of Global Disruption.” It explored Taiwan-US defense and security cooperation, the US elections, China’s gray-zone threats, and geopolitical security issues. (E)

    MIL OSI China News –

  • MIL-OSI China: Taipei Economic and Cultural Center in Mumbai officially inaugurated, elevating substantive relations between Taiwan and India

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    Taipei Economic and Cultural Center in Mumbai officially inaugurated, elevating substantive relations between Taiwan and India

    • Date：2024-10-17
    • Data Source：Department of East Asian and Pacific Affairs

    October 17, 2024 

    No. 356 

    A reception marking the inauguration of the Taipei Economic and Cultural Center (TECC) in Mumbai and celebrating the National Day was held on the evening of October 16. The event was cohosted by Ambassador Baushuan Ger, Representative of the TECC in India, and Director General Chang Chun-yu of the TECC in Mumbai. More than 100 guests attended and expressed congratulations, including former Indian parliamentarian Sujeet Kumar, representatives of various sectors, and members of the local consular corps.

     

    Minister of Foreign Affairs Lin Chia-lung delivered a prerecorded address, noting that bilateral relations had seen remarkable growth since Taiwan and India established representative offices in each other’s countries in 1995. He pointed out that the inauguration of the TECC in Mumbai reflected the successful alignment of Taiwan’s New Southbound Policy and India’s Act East Policy. He also expressed the hope that the two countries would further deepen cooperation in such areas as the economy, trade, investment, technology, culture, and education.

     

    The TECC in Mumbai is the third Taiwan overseas mission to be established in India. It will serve as a bridge between Taiwan and western India and provide visa, document certification, emergency assistance, and other services to business and leisure travelers for the states of Maharashtra, Gujarat, Madhya Pradesh, and Goa, as well as the union territory of Dadra and Nagar Haveli and Daman and Diu. It will coordinate closely with the TECC in India and the TECC in Chennai to foster mutually beneficial bilateral relations and shared prosperity with India. (E) 

     

    TECC in Mumbai contact information: 

    Address: 401, Platina Building, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra, 400051, India

    Telephone: +91-22-48943005 / +91-22-48943006

    Emergency hotline: +91-8850842243

    Email: bom@mofa.gov.tw

    MIL OSI China News –

  • MIL-OSI China: MOFA response to EEAS spokesperson’s statement on China’s launch of Joint Sword-2024B military drills around Taiwan

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA response to EEAS spokesperson’s statement on China’s launch of Joint Sword-2024B military drills around Taiwan

    October 14, 2024  

    Following China’s announcement on October 14 of the launch of the Joint Sword-2024B military drills, the spokesperson of the European External Action Service (EEAS) issued a statement later that day pointing out that China’s military activities around Taiwan had further increased cross-strait tensions. The statement reiterated that peace and stability in the Taiwan Strait were of strategic importance to regional and global security and prosperity. It also reaffirmed the European Union’s direct interest in the preservation of the status quo in the Taiwan Strait and opposition to any unilateral attempts to change the status quo by force or coercion. In addition, the European Union called on all parties to exercise restraint and avoid any actions that might further escalate cross-strait tensions and to resolve disputes through dialogue.

     

    The Ministry of Foreign Affairs strongly appreciates that the European Union has continued to pay close attention to Taiwan Strait developments and that it issued a statement reaffirming staunch support for cross-strait peace and stability immediately after China announced the launch of military drills. As a force for good in the world, Taiwan will continue to bolster cooperation and exchanges with European countries and other like-minded partners so as to jointly safeguard the values of freedom and democracy and uphold the rules-based international order, demonstrating to the world Taiwan’s determination to defend democracy. 

    MIL OSI China News –

  • MIL-OSI China: MOFA response to Japanese Prime Minister Ishiba expressing great concern over China’s joint military drills around Taiwan

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA response to Japanese Prime Minister Ishiba expressing great concern over China’s joint military drills around Taiwan

    October 14, 2024  

    Commenting on China’s joint military drills around Taiwan during an interview with the press on October 14, Japanese Prime Minister Shigeru Ishiba pointed out that peace and security in and around the Taiwan Strait were an extremely important issue to the region. He stated that Japan would carefully monitor the situation and prepare to respond to any development.

     

    The Ministry of Foreign Affairs (MOFA) affirms and appreciates Prime Minister Ishiba’s public expression of great concern and support for peace and stability across the Taiwan Strait immediately after China launched military drills around Taiwan.

     

    Also on October 14, Japanese Minister for Foreign Affairs Takeshi Iwaya and Minister of Defense Gen Nakatani stressed the importance of cross-strait peace to regional security and stability and stated that they would closely monitor the situation and remain vigilant concerning related developments.

     

    Maintaining cross-strait peace and stability is a matter of international consensus. China’s repeated use of pretexts to suppress and intimidate Taiwan has undermined peace and stability across the Taiwan Strait and in the Indo-Pacific. MOFA again urges China to exercise reason and restraint and to stop threatening Taiwan and unilaterally escalating regional tensions. For its part, Taiwan will continue to enhance its self-defense capabilities and work with the United States, Japan, and other like-minded partners to safeguard the rules-based international order.

    MIL OSI China News –

  • MIL-OSI China: MOFA response to US State Department expressing serious concern over China’s military drills around Taiwan

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA response to US State Department expressing serious concern over China’s military drills around Taiwan

    October 14, 2024   

    The US State Department issued a press statement on October 13 stating that the United States was seriously concerned by the People’s Liberation Army (PLA) joint military drills in the Taiwan Strait and around Taiwan, and that the People’s Republic of China (PRC) responding with military provocations to a routine annual speech was unwarranted and risked escalation. In the statement, the United States called on the PRC to act with restraint and to avoid any further actions that may undermine peace and stability across the Taiwan Strait and the region. The statement added that the United States would continue to monitor China’s activities and coordinate with allies and partners regarding their shared concerns.

     

    US Secretary of State Antony Blinken last week publicly emphasized that Taiwan’s National Day address was a routine activity and that China should not use the event as a pretext for engaging in any provocative actions. The Ministry of Foreign Affairs (MOFA) conveys its sincere appreciation to the United States for expressing its serious concerns and reaffirming its security commitments to Taiwan, and for once again focusing attention on the PLA as it uses a routine speech to justify launching military acts of harassment against Taiwan.

     

    MOFA emphasizes that China’s use of President Lai Ching-te’s National Day address as a pretext for applying military pressure on Taiwan and issuing a slew of threatening remarks is a grave violation of the fundamental spirit of the United Nations Charter. Such actions will not only fail to gain the endorsement of the international community, but rather prompt countries to express heightened concern over China’s provocative behavior that disrupts the status quo. MOFA calls on like-minded allies and partners to jointly press China to exercise self-restraint and to cease its intimidation of Taiwan and all activities that undermine peace and stability across the Taiwan Strait and throughout the region.

    MIL OSI China News –

  • MIL-OSI China: MOFA response to UK Foreign, Commonwealth and Development Office expressing serious concern over China’s joint military drills around Taiwan

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA response to UK Foreign, Commonwealth and Development Office expressing serious concern over China’s joint military drills around Taiwan

    October 15, 2024  

    The UK Foreign, Commonwealth and Development Office issued a press statement on October 14 expressing concern over China’s military exercises around Taiwan and adding that these exercises increased tensions and risked dangerous escalation in the Taiwan Strait. In the statement, the United Kingdom reaffirmed its interest in peace and stability in the Taiwan Strait, which it said was of critical importance to global prosperity. The statement reiterated that the Taiwan issue should be settled by people on both sides of the Taiwan Strait through dialogue, without the threat or use of force or coercion. It further said that the United Kingdom did not support any unilateral attempts to change the status quo and called for restraint and the avoidance of any actions that might undermine peace and stability.

     

    The Ministry of Foreign Affairs sincerely appreciates that the UK government has continued to pay close attention to developments across the Taiwan Strait and clearly spelled out the importance of cross-strait peace and stability to global affairs. As a responsible member of the international community, Taiwan will continue to work with like-minded partners to jointly safeguard the rules-based international order. It also hopes that democracies around the world will stand together in urging China to exercise reason and restraint and to stop threatening Taiwan and unilaterally escalating regional tensions. 

    MIL OSI China News –

  • MIL-OSI China: MOFA response to Australian Department of Foreign Affairs and Trade expressing grave concern over China’s joint military drills around Taiwan

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA response to Australian Department of Foreign Affairs and Trade expressing grave concern over China’s joint military drills around Taiwan

    October 16, 2024

    In response to a question from the media on October 16, a spokesperson for the Australian Department of Foreign Affairs and Trade said that Australia was deeply concerned that China had commenced large-scale military exercises around Taiwan and that Australia urged China to refrain from actions that increased the risk of accident and potential escalation. The spokesperson added that differences should be resolved through dialogue, not the threat of force or coercion, and that peace and stability across the Taiwan Strait were in the interests of all parties. 

    The Ministry of Foreign Affairs (MOFA) sincerely thanks the government of Australia for paying close attention to the Taiwan Strait situation, calling on China to show restraint, and underscoring the importance of cross-strait peace and stability. Taiwan will continue to work with Australia and other like-minded partners to uphold the rules-based international order and advance regional peace, stability, and prosperity.

    MIL OSI China News –

  • MIL-OSI USA: Connolly Leads Bipartisan Letter Urging the Administration to Take Action on Double Taxation with Taiwan

    Source: United States House of Representatives – Representative Gerry Connolly (D-Va)

    Congressman Gerry Connolly (D-VA), a senior member of the House Committee on Foreign Affairs, co-Chair of the Congressional Taiwan Caucus, and the author of the Taiwan Tax Agreement Act of 2023, led four of his colleagues in writing to Secretary of State Antony Blinken and Secretary of the Treasury Janet Yellen to urge the Administration to take action on the issue of double taxation with Taiwan.

    In addition to Connolly, the letter was signed by Congressman Greg Meeks (D-NY), the Ranking Member of the House Committee on Foreign Affairs; Congressman Joe Wilson (R-SC), the Chairman of the House Subcommittee on the Middle East, North Africa, and Central Asia; Congressman Ami Bera (D-CA), the Ranking Member of the House Subcommittee on the Indo-Pacific and a co-Chair of the Congressional Taiwan Caucus; and Congressman Greg Stanton (D-AZ), a member of the House Committee on Foreign Affairs.

    “As supporters of strong commercial ties between the U.S. and Taiwan, we write to urge you to take action to remedy double taxation burdens as we await the Senate passage of Taiwan-related provisions in the Tax Relief for American Families and Workers Act of 2024,” wrote the Members.

    “While we continue to believe legislative action in the Senate, namely the authorization included in the Tax Relief for American Families and Workers Act of 2024, is needed to conclude a double taxation agreement, we welcome the Administration’s desire to begin negotiations between the American Institute in Taiwan and the Taiwan Economic and Cultural Representative Office on said agreement,” the Members continued. “We urge that such negotiations begin in earnest and that the Departments of State and Treasury use existing statutory authority to lower these barriers to trade in order to facilitate investment, protect against tax evasion, and shield businesses and individuals in the U.S. and Taiwan from the strain that double taxation causes.”

    “Taiwan has grown to be an economic juggernaut in the Indo-Pacific and around the world. We must ensure that companies from the U.S. and Taiwan are not disadvantaged in conducting bilateral investment. Curing double taxation will be a clear reassertion of our support for a strong and prosperous Taiwan, for its own sake and as a bulwark against an increasingly aggressive China,” the Members concluded.

    Full text of the letter is available here and below.

    Dear Secretary Blinken and Secretary Yellen:

    As supporters of strong commercial ties between the U.S. and Taiwan, we write to urge you to take action to remedy double taxation burdens as we await the Senate passage of Taiwan-related provisions in the Tax Relief for American Families and Workers Act of 2024.

    While we continue to believe legislative action in the Senate, namely the authorization included in the Tax Relief for American Families and Workers Act of 2024, is needed to conclude a double taxation agreement, we welcome the Administration’s desire to begin negotiations between the American Institute in Taiwan and the Taiwan Economic and Cultural Representative Office on said agreement. We urge that such negotiations begin in earnest and that the Departments of State and Treasury use existing statutory authority to lower these barriers to trade in order to facilitate investment, protect against tax evasion, and shield businesses and individuals in the U.S. and Taiwan from the strain that double taxation causes.

    As one of the world’s largest economies and a major regional player, Taiwan is a critical economic partner for the United States. Taiwan is the United States’ seventh-largest merchandise trading partner, with $128 billion in total goods trade. The U.S., meanwhile, is Taiwan’s second-largest trading partner. In 2023 alone, U.S. direct investment stock in Taiwan grew to $19.3 billion, with Taiwan’s direct investment stock in the United States reaching $15.6 billion, a testament to our ever-growing bilateral economic partnership.

    We must do all we can to strengthen that partnership – including by implementing a tax agreement that removes unnecessary barriers and benefits businesses in both the U.S. and Taiwan. As we await Senate action on Taiwan-related provisions in the bipartisan Tax Relief for American Families and Workers Act, including an authorization for the American Institute in Taiwan and Taiwan Economic and Cultural Representative Office to negotiate a tax agreement, we urge you to take interim steps to allow businesses on either side to invest without the burden of double taxation.

    Taiwan has grown to be an economic juggernaut in the Indo-Pacific and around the world. We must ensure that companies from the U.S. and Taiwan are not disadvantaged in conducting bilateral investment. Curing double taxation will be a clear reassertion of our support for a strong and prosperous Taiwan, for its own sake and as a bulwark against an increasingly aggressive China.

    Sincerely,

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: MOFA response to EEAS spokesperson’s statement on China’s launch of Joint Sword-2024B military drills around Taiwan

    Source: Republic of China Taiwan 3

    MOFA response to EEAS spokesperson’s statement on China’s launch of Joint Sword-2024B military drills around Taiwan

    October 14, 2024  

    Following China’s announcement on October 14 of the launch of the Joint Sword-2024B military drills, the spokesperson of the European External Action Service (EEAS) issued a statement later that day pointing out that China’s military activities around Taiwan had further increased cross-strait tensions. The statement reiterated that peace and stability in the Taiwan Strait were of strategic importance to regional and global security and prosperity. It also reaffirmed the European Union’s direct interest in the preservation of the status quo in the Taiwan Strait and opposition to any unilateral attempts to change the status quo by force or coercion. In addition, the European Union called on all parties to exercise restraint and avoid any actions that might further escalate cross-strait tensions and to resolve disputes through dialogue.
     
    The Ministry of Foreign Affairs strongly appreciates that the European Union has continued to pay close attention to Taiwan Strait developments and that it issued a statement reaffirming staunch support for cross-strait peace and stability immediately after China announced the launch of military drills. As a force for good in the world, Taiwan will continue to bolster cooperation and exchanges with European countries and other like-minded partners so as to jointly safeguard the values of freedom and democracy and uphold the rules-based international order, demonstrating to the world Taiwan’s determination to defend democracy. 

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: MOFA response to Japanese Prime Minister Ishiba expressing great concern over China’s joint military drills around Taiwan

    Source: Republic of China Taiwan 3

    MOFA response to Japanese Prime Minister Ishiba expressing great concern over China’s joint military drills around Taiwan

    October 14, 2024  

    Commenting on China’s joint military drills around Taiwan during an interview with the press on October 14, Japanese Prime Minister Shigeru Ishiba pointed out that peace and security in and around the Taiwan Strait were an extremely important issue to the region. He stated that Japan would carefully monitor the situation and prepare to respond to any development.
     
    The Ministry of Foreign Affairs (MOFA) affirms and appreciates Prime Minister Ishiba’s public expression of great concern and support for peace and stability across the Taiwan Strait immediately after China launched military drills around Taiwan.
     
    Also on October 14, Japanese Minister for Foreign Affairs Takeshi Iwaya and Minister of Defense Gen Nakatani stressed the importance of cross-strait peace to regional security and stability and stated that they would closely monitor the situation and remain vigilant concerning related developments.
     
    Maintaining cross-strait peace and stability is a matter of international consensus. China’s repeated use of pretexts to suppress and intimidate Taiwan has undermined peace and stability across the Taiwan Strait and in the Indo-Pacific. MOFA again urges China to exercise reason and restraint and to stop threatening Taiwan and unilaterally escalating regional tensions. For its part, Taiwan will continue to enhance its self-defense capabilities and work with the United States, Japan, and other like-minded partners to safeguard the rules-based international order.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: MOFA response to US State Department expressing serious concern over China’s military drills around Taiwan

    Source: Republic of China Taiwan 3

    MOFA response to US State Department expressing serious concern over China’s military drills around Taiwan

    October 14, 2024   

    The US State Department issued a press statement on October 13 stating that the United States was seriously concerned by the People’s Liberation Army (PLA) joint military drills in the Taiwan Strait and around Taiwan, and that the People’s Republic of China (PRC) responding with military provocations to a routine annual speech was unwarranted and risked escalation. In the statement, the United States called on the PRC to act with restraint and to avoid any further actions that may undermine peace and stability across the Taiwan Strait and the region. The statement added that the United States would continue to monitor China’s activities and coordinate with allies and partners regarding their shared concerns.
     
    US Secretary of State Antony Blinken last week publicly emphasized that Taiwan’s National Day address was a routine activity and that China should not use the event as a pretext for engaging in any provocative actions. The Ministry of Foreign Affairs (MOFA) conveys its sincere appreciation to the United States for expressing its serious concerns and reaffirming its security commitments to Taiwan, and for once again focusing attention on the PLA as it uses a routine speech to justify launching military acts of harassment against Taiwan.
     
    MOFA emphasizes that China’s use of President Lai Ching-te’s National Day address as a pretext for applying military pressure on Taiwan and issuing a slew of threatening remarks is a grave violation of the fundamental spirit of the United Nations Charter. Such actions will not only fail to gain the endorsement of the international community, but rather prompt countries to express heightened concern over China’s provocative behavior that disrupts the status quo. MOFA calls on like-minded allies and partners to jointly press China to exercise self-restraint and to cease its intimidation of Taiwan and all activities that undermine peace and stability across the Taiwan Strait and throughout the region.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: MOFA response to UK Foreign, Commonwealth and Development Office expressing serious concern over China’s joint military drills around Taiwan

    Source: Republic of China Taiwan 3

    MOFA response to UK Foreign, Commonwealth and Development Office expressing serious concern over China’s joint military drills around Taiwan

    October 15, 2024  

    The UK Foreign, Commonwealth and Development Office issued a press statement on October 14 expressing concern over China’s military exercises around Taiwan and adding that these exercises increased tensions and risked dangerous escalation in the Taiwan Strait. In the statement, the United Kingdom reaffirmed its interest in peace and stability in the Taiwan Strait, which it said was of critical importance to global prosperity. The statement reiterated that the Taiwan issue should be settled by people on both sides of the Taiwan Strait through dialogue, without the threat or use of force or coercion. It further said that the United Kingdom did not support any unilateral attempts to change the status quo and called for restraint and the avoidance of any actions that might undermine peace and stability.
     
    The Ministry of Foreign Affairs sincerely appreciates that the UK government has continued to pay close attention to developments across the Taiwan Strait and clearly spelled out the importance of cross-strait peace and stability to global affairs. As a responsible member of the international community, Taiwan will continue to work with like-minded partners to jointly safeguard the rules-based international order. It also hopes that democracies around the world will stand together in urging China to exercise reason and restraint and to stop threatening Taiwan and unilaterally escalating regional tensions. 

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: MOFA response to Australian Department of Foreign Affairs and Trade expressing grave concern over China’s joint military drills around Taiwan

    Source: Republic of China Taiwan 3

    MOFA response to Australian Department of Foreign Affairs and Trade expressing grave concern over China’s joint military drills around Taiwan

    October 16, 2024In response to a question from the media on October 16, a spokesperson for the Australian Department of Foreign Affairs and Trade said that Australia was deeply concerned that China had commenced large-scale military exercises around Taiwan and that Australia urged China to refrain from actions that increased the risk of accident and potential escalation. The spokesperson added that differences should be resolved through dialogue, not the threat of force or coercion, and that peace and stability across the Taiwan Strait were in the interests of all parties. The Ministry of Foreign Affairs (MOFA) sincerely thanks the government of Australia for paying close attention to the Taiwan Strait situation, calling on China to show restraint, and underscoring the importance of cross-strait peace and stability. Taiwan will continue to work with Australia and other like-minded partners to uphold the rules-based international order and advance regional peace, stability, and prosperity.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Foreign Minister Lin addresses Global Taiwan Institute; promotes integrated diplomacy and urges cooperation with US to advance regional prosperity and stability

    Source: Republic of China Taiwan 3

    Foreign Minister Lin addresses Global Taiwan Institute; promotes integrated diplomacy and urges cooperation with US to advance regional prosperity and stability

    Date：2024-10-17
    Data Source：Department of North American Affairs

    October 17, 2024 
    No. 355

    At the invitation of the Global Taiwan Institute (GTI), a think tank based in Washington, DC, Minister of Foreign Affairs Lin Chia-lung delivered a keynote address via a prerecorded video at its annual symposium held on October 16. He discussed the grave challenges authoritarian coalitions and expansionism pose to the international order and commended the United States for creating a strong and mutually reinforcing latticework of alliances. He said that Taiwan, as an indispensable member of the international community, hoped to promote integrated diplomacy and work with the United States to respond to a variety of challenges. 
     
    Minister Lin explained how China was ramping up military intimidation against Taiwan, in addition to legal, public opinion, and cognitive warfare. He indicated that China was deliberately using gray-zone tactics in an attempt to create a new normal across the Taiwan Strait, which seriously jeopardized peace and stability across the Taiwan Strait and the region. Minister Lin thanked the United States for its staunch commitment to supporting Taiwan’s security, as reflected in such assistance as foreign military financing and presidential drawdown authority in recent years. He affirmed that Taiwan had also been steadily increasing its defense budget as well as whole-of-society defense resilience and defense capabilities. 
     
    Minister Lin stated that the core of integrated diplomacy was the promotion of economic and trade partnerships based on mutual prosperity. He anticipated that through the Economic Prosperity Partnership Dialogue and other platforms Taiwan and the United States would continue to increase supply chain resilience and cooperation in critical areas. He noted that in line with the one plus one equals three concept, Taiwan and the United States could jointly facilitate development in third countries. He added that under the Global Cooperation and Training Framework cooperation with other nations could be expanded to respond to global issues and challenges, paving the way for Taiwan’s policy shift from consolidating diplomatic ties to bolstering the prosperity of diplomatic allies. Emphasizing that Taiwan needed the world and the world needed Taiwan, Minister Lin said that Taiwan would continue to work closely with the United States, allies, and partners to implement integrated diplomacy and expand Taiwan’s international presence. 
     
    GTI was the first think tank in Washington, DC, to focus on Taiwan-related research. The theme of this year’s symposium was “US-Taiwan Relations: An Ironclad Partnership in a Period of Global Disruption.” It explored Taiwan-US defense and security cooperation, the US elections, China’s gray-zone threats, and geopolitical security issues. (E)

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Taipei Economic and Cultural Center in Mumbai officially inaugurated, elevating substantive relations between Taiwan and India

    Source: Republic of China Taiwan 3

    Taipei Economic and Cultural Center in Mumbai officially inaugurated, elevating substantive relations between Taiwan and India

    Date：2024-10-17
    Data Source：Department of East Asian and Pacific Affairs

    October 17, 2024 
    No. 356 

    A reception marking the inauguration of the Taipei Economic and Cultural Center (TECC) in Mumbai and celebrating the National Day was held on the evening of October 16. The event was cohosted by Ambassador Baushuan Ger, Representative of the TECC in India, and Director General Chang Chun-yu of the TECC in Mumbai. More than 100 guests attended and expressed congratulations, including former Indian parliamentarian Sujeet Kumar, representatives of various sectors, and members of the local consular corps.
     
    Minister of Foreign Affairs Lin Chia-lung delivered a prerecorded address, noting that bilateral relations had seen remarkable growth since Taiwan and India established representative offices in each other’s countries in 1995. He pointed out that the inauguration of the TECC in Mumbai reflected the successful alignment of Taiwan’s New Southbound Policy and India’s Act East Policy. He also expressed the hope that the two countries would further deepen cooperation in such areas as the economy, trade, investment, technology, culture, and education.
     
    The TECC in Mumbai is the third Taiwan overseas mission to be established in India. It will serve as a bridge between Taiwan and western India and provide visa, document certification, emergency assistance, and other services to business and leisure travelers for the states of Maharashtra, Gujarat, Madhya Pradesh, and Goa, as well as the union territory of Dadra and Nagar Haveli and Daman and Diu. It will coordinate closely with the TECC in India and the TECC in Chennai to foster mutually beneficial bilateral relations and shared prosperity with India. (E) 
     
    TECC in Mumbai contact information: 
    Address: 401, Platina Building, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra, 400051, India
    Telephone: +91-22-48943005 / +91-22-48943006
    Emergency hotline: +91-8850842243
    Email: bom@mofa.gov.tw

    MIL OSI Asia Pacific News –

  • MIL-OSI China: China recovers 16 billion yuan in misused healthcare funds

    Source: People’s Republic of China – State Council News

    BEIJING, Oct. 22 — Chinese authorities recovered over 16 billion yuan (2.25 billion U.S. dollars) in misused medical insurance funds during the first nine months of this year, according to official data released on Tuesday.

    At a press conference in Beijing, the National Healthcare Security Administration (NHSA) announced that it had conducted surprise inspections at more than 500 designated medical institutions participating in the national insurance scheme.

    These inspections, aimed at uncovering insurance fraud and misuse, covered all provincial-level regions, the NHSA stated.

    The administration pledged additional measures to ensure the security of healthcare funds and prevent future misuse.

    These efforts include expanding the scope of surprise inspections, enhancing self-inspection and rectification, strengthening big data monitoring, establishing a long-term regulatory framework, and increasing public exposure of violations.

    MIL OSI China News –

  • MIL-OSI Global: Paper mills: the ‘cartel-like’ companies behind fraudulent scientific journals

    Source: The Conversation – Indonesia – By Rizqy Amelia Zein, Lecturer in Social Psychology, Universitas Airlangga

    Science and Nature, two leading science journals, have revealed a growing problem: an alarming rise in fraudulent research papers produced by shady paper mill companies. This wave of fake studies is creating a major headache for the academic world, putting the integrity of global academic research at risk.

    Paper mill companies offer authorship services to researchers, academics, and students who want their names listed as an author of a scientific article published in reputable scientific journals.

    By paying around €180 to €5000 (approximately US$197 – $5472), a person can have their name listed as the author of research paper, without having to painstakingly do research and write the results. No doubt, some experts refer to these paper mills as illegal and criminal organizations.

    A 2023 research highlights a dramatic increase in fraudulent scientific artiles traced back to paper mills. In just five years, the numbers of retractions soared jumped from 10 in 2019 to 2,099 in 2023.

    Paper mills have also extremely overwhelmed major scientific journal publishers. Hindawi and Wiley, publishers of open access journals in the UK, for example, retracted around 1,200 paper mill articles in 2023. SAGE, a global publisher of books, journals and academic library resources and Elsevier, a scholarly publisher in the Netherlands also retracted hundreds of paper mill articles in 2022.

    Paper mills are found operating in countries whose research policies incentivise researchers to produce as many scientific articles as possible, such as China, Russia, India and Iran.

    However, their customer profile is quite diverse, from both developed and developing countries, including Indonesia, Malaysia, Germany, and the United States (US).

    Based on research data and investigative journalist reports from the last five years, I summarise how these paper mills operate and how to detect them.

    The paper mill playbook: tactics and oddities

    1. Problematic articles

    Paper mills generally manipulate the process of publishing scientific articles. These articles usually plagiarise other published articles, contain false and stolen data, or include engineered and duplicated images.

    They also offer to rewrite scientific articles using generative artificial intelligence tools, such as ChatGPT and Quillbot, or to translate published articles from other languages into English.

    2. A promised path to publication

    In some cases, paper mills offer authorship slots before an article is accepted for publication.

    In other cases, they offer authorship slots after the article is ready to be published by the journal.

    Therefore, it is not uncommon for paper mills to sell authorship slots with a guarantee that the article will definitely be published. In fact, according to the conventions generally accepted in the academic community, no well-run journal can give such a guarantee.

    Publishing decisions are normally made only after editors have considered the feedback from peer reviewers. This means, there is no possibility for a manuscript to secure acceptance before passing the peer review process.

    3. Fake reviews and corrupt deals

    Paper mills also offer a wide range of additional services. For example, they offer fake peer review services to convince potential buyers that the offered articles have passed rigorous review.

    To smooth the way for their operations, some paper mills even operate like a cartel, bribing rogue journal editors to ensure publication. A 2024 investigation by a Science journalist revealed that some scientific journal editors were offered as much as $20,000 to cooperate with these schemes. This investigation resulted in more than 30 editors of reputable international journals identified as involved in paper mill activities.

    4. Unusual collaboration patterns

    One of the peculiarities of paper mill articles is its strange mix of authors. An article on the activity of ground beetles attacking crops in Kazakhstan, for example, is written by authors who are neither affiliated with institutions in Kazakhstan nor experts in insects or agriculture. The authors’ backgrounds are suspiciously heterogeneous, ranging from anaesthesia, dentistry, to biomedical engineering.

    5. Anonymous co-authors

    Prospective customers of paper mill services usually have to agree to the rules of confidentiality. By agreeing to this rule, buyers have no idea which journal their article will target or who their co-authors will be. Often, the authors listed on the same paper don’t even know each other.

    Spotting the red flags: how to detect paper mills articles

    Detecting scientific articles produced by paper mills often begins with analyzing retraction patterns carried out by journals.

    This can be done in two ways: by tracking post-publication peer reviews on platforms like PubPeer, or by checking the Retraction Watch database, a website that documents retractions of problematic scientific articles.

    However, journals rarely state outright that a retraction is due to paper mill fraud. Instead, articles are typically pulled for reasons like improper inclusion of the name and order of authors, inclusion of many irrelevant citations or references, plagiarism, or inclusion of manipulated or duplicated images.

    The proportion of scientific articles retracted for being associated with paper mills is much smaller than the estimated total number of paper mill articles currently in circulation.

    Retraction Watch data, as of May 2024, only recorded 7,275 retractions of articles related to the paper mill out of a total of 44,000 retractions recorded. In fact, it is estimated that up to 400,000 paper mill articles have infiltrated scientific literature over the past two decades.

    Despite significant efforts from publishers and the academic community through organizations such as United2Act, a global alliance initiated by Committee on Publication Ethics (COPE) and STM, these attempts are barely enough.

    How paper mills hurt the public

    The UK Research Integrity Office—an independent UK charity that offers support to the public, researchers and organisations to promote good academic research practice—estimates that the paper mill industry has gained around $10 million globally.

    For example, a Russian paper mill could earn $6.5 million if they sold all the authorship of scientific articles it produced from 2019 to 2021.

    In Indonesia, this financial loss directly impacts the public. Public universities rely on the state budget, funded largely by taxpayers, and tuition fees from students to cover operational expenses, including research grants and publication incentives.

    Though the exact financial toll of these paper mills is hard to pin down, it is clear that the public are footing the bill for fraudulent research practices, siphoning resources away from enuin academic advancements.

    Rizqy Amelia Zein tidak bekerja, menjadi konsultan, memiliki saham, atau menerima dana dari perusahaan atau organisasi mana pun yang akan mengambil untung dari artikel ini, dan telah mengungkapkan bahwa ia tidak memiliki afiliasi selain yang telah disebut di atas.

    – ref. Paper mills: the ‘cartel-like’ companies behind fraudulent scientific journals – https://theconversation.com/paper-mills-the-cartel-like-companies-behind-fraudulent-scientific-journals-230124

    MIL OSI – Global Reports –