The Sunday Mail
Manyika Kangai
China’s new sanctions on US companies
China announced fresh sanctions on five US defence industry companies, in response to the latest arms sales deals to Taiwan and US sanctions on some Chinese businesses and individuals. The companies affected include BAE Systems Land and Armament, Alliant Techsystems Operation, AeroVironment, ViaSat and Data Link Solutions, according to a statement by China’s foreign ministry. The measures consist of freezing the properties of those companies in China and prohibiting organisations and individuals in China from transactions and cooperation with them. A ministry spokesperson said the US arms sales to China’s Taiwan region in blatant violation of the one-China principle and the stipulations of the three China-US joint communiques, particularly the August 17 joint communique of 1982, and the illegal unilateral sanctions the United States has imposed on Chinese companies and individuals under various false pretexts seriously harm China’s sovereignty and security interests.
China to boost RMB’s global presence
China will boost the internationalisation of the RMB, guard against systemic risks and foster a sound monetary and financial environment, according to the country’s central bank, the People’s Bank of China (PBOC). China will improve the basic institutional arrangements and infrastructure for cross-border RMB use and enhance its ability to serve the real economy and promote high-quality development. Official data shows that in the first 11 months of 2023, cross-border RMB transactions amounted to 48 trillion yuan (about US$ 6,76 trillion), up 24 percent year-on-year.
China’s new energy passenger vehicles
Sales and exports of China’s new-energy passenger vehicles registered robust expansion in 2023, according to the China Passenger Car Association. About 7,74 million such vehicles were sold last year, surging 36,2 percent year-on-year. In December alone, sales of these vehicles hit 945 000 units, up 47,3 percent year-on-year and rising 12,1 percent monthly. China also exported around 1,05 million new-energy passenger vehicles in 2023, jumping 72 percent over a year earlier.
China’s oil, gas output
China’s total crude oil and natural gas output exceeded 390 million tonnes of oil equivalent in 2023, hitting a historic high, according to the National Energy Administration on Tuesday. The country’s crude oil output reached 208 million tonnes last year, increasing by more than three million tonnes compared with the level registered in 2022. The figure also represents an increase in output of nearly 19 million tonnes compared with the 2018 level. Specifically, offshore crude oil output reached 62 million tonnes, which contributed more than 60 percent of the total increase in the country’s oil output. Shale oil production exceeded four million tonnes, representing a record high. Natural gas output reached 230 billion cubic meters last year, maintaining an annual increase of 10 billion cubic meters for the seventh consecutive year.
China discovers 4th century tombs
A graveyard with 285 tombs dating back to as early as the 4th century has been discovered in Shaanxi Province in northwest China, according to the Shaanxi Provincial Cultural Heritage Administration. The tombs, spanning a timeframe from the Sixteen Kingdoms period (304-439) to the Sui and Tang dynasties (581-907), were found in an orderly aligned layout in the graveyard. The excavation was initiated in 2021. Pottery figurines, pottery stoves and kettles, pottery lanterns and epitaph bricks imprinted with characters identifying the year the brick was made were unearthed from the tombs. Archaeologists believe the excavation of the graveyard will help shed light on the evolution of the burial and sacrificial system in north China in the Sixteen Kingdoms period and Northern Dynasties (439-581). The discovery will also contribute to studies on population mix and ethnic integration in the Chang’an region, providing insights into the complex historical context.
*Manyika Kangai has over 17 years of experience facilitating and advising on China-Africa trade and investment deals. He is dedicated to helping African businesses and governments realise the full potential of the vast opportunities China presents
