India  

China's NPC looks to Hong Kong, defense spending

Video Credit: Reuters - Politics - Duration: 01:39s - Published
China's NPC looks to Hong Kong, defense spending

China's NPC looks to Hong Kong, defense spending

Elections for Hong Kong's legislature will likely be deferred for a second year to September 2022 as Beijing plans a major overhaul of the city's electoral system, a severe blow to remaining hopes of democracy in the global financial hub.

Gloria Tso reports.

China's biggest political meeting opened for its annual session on Friday, where it is expected to pass a sweeping overhaul of Hong Kong's electoral system.

Chinese lawmakers are expected to delay elections for the city's legislature by another year to September 2022, according to local media.

It's a move that will boost China's effort to ensure those they deem "patriots" are put in charge of the city, and likely to crush any remaining democratic hopes for the global financial hub.

Many high-profile pro-democracy politicians and activists are already in jail or in exile after authorities cracked down on the city's mass anti-government protests in 2019, and imposed a sweeping national security law last year.

A senior Chinese lawmaker says the NPC plans to expand an electoral committee that chooses Hong Kong's leader, and give it powers to pick many of the city's legislators as well.

The NPC also unveiled a relatively mild defense budget for the year, a rise of around 7% from 2020.

That's despite challenges on several fronts, ranging from heightened tensions with Taiwan to U.S. missions around Chinese-occupied islands in the disputed South China Sea, and an ongoing border dispute with India.

China's strategic rivalry with the United States is also expected to take centre stage at the conference.

A London-based economics research centre predicts China will leapfrog the United States as the world's biggest economy in 2028, five years earlier than previously forecast.




You Might Like


💡 newsR Knowledge: Other News Mentions

Hong Kong Hong Kong Metropolitan area and special administrative region of the People's Republic of China

Hong Kong won't air Oscars for the first time since 1968 [Video]

Hong Kong won't air Oscars for the first time since 1968

Hong Kong’s leading TV broadcaster has decided to drop this year’s Academy Awards for the first time since 1968, even with two Hong Kong films nominated. CNN’s Will Ripley reports.

Credit: Bleacher Report AOL    Duration: 02:50Published
Equity indices remain range-bound, private banks lose [Video]

Equity indices remain range-bound, private banks lose

Equity benchmark indices traded within a narrow range on Friday as surging Covid cases became an area of serious concern with several cities declaring night curfews Market experts said unless this second wave peaks soon and subsides, economic activity will be impacted and uncertainty will weigh on investor sentiments. The BSE SandP Sensex closed 155 points or 0.31 per cent lower at 49,591 while the Nifty 50 slipped by 39 points or 0.26 per cent to 14,835. Sectoral indices at the National Stock Exchange were mixed with Nifty private bank down by 0.9 per cent and financial service by 0.7 per cent. But Nifty PSU bank rose by 2 per cent and pharma by 3 per cent. Among stocks, Axis Bank closed 2 per cent lower at Rs 668.05 per share while ICICI Bank lost by 1.8 per cent to Rs 565.95. Bajaj Finance skidded by 3 per cent to close at Rs 4,878 per share. UPL, UltraTech Cement, Tata Steel, NTPC, Coal India and IndianOil Corporation too were in the negative zone. However, pharma major Cipla jumped by 5.3 per cent to Rs 836.95 per share. Sun Pharma too gained by 3.5 per cent and Dr Reddy's by 1.6 per cent. The other prominent winners were Hindustan Lever, Tech Mahindra, Wipro, Tata Motors, JSW Steel and Titan. Meanwhile, Asian equities were in a choppy trading session after technology stocks lifted the SandP 500 to a new record. Investors weighed an unexpected rise in the number of Americans filing new claims for unemployment benefits. Japan's Nikkei was up by 0.2 per cent but Hong Kong's Hang Seng index rolled down by 1.07 per cent. South Korea's Kospi too fell by 0.36 per cent.

Credit: ANI    Duration: 01:24Published
Sensex up 460 points as RBI holds rates, JSW Steel gains 5.3 pc [Video]

Sensex up 460 points as RBI holds rates, JSW Steel gains 5.3 pc

Equity benchmark indices gained nearly one per cent on Wednesday as the Reserve Bank of India kept repo rate unchanged at 4 per cent and maintained 10.5 per cent growth projection for FY22. Moreover, the International Monetary Fund has projected India's GDP to grow at 12.5 per cent in FY22. The BSE SandP Sensex closed 460 points or 0.94 per cent higher at 49,662 while the Nifty 50 edged higher by 136 points or 0.92 per cent to 14,819. All sectoral indices at the National Stock Exchange were in the positive terrain with Nifty PSU bank up by 2 per cent, auto by 1.4 per cent, financial service by 1.1 per cent and IT by 1 per cent. Among stocks, JSW Steel was up by 5.3 per cent to Rs 566.10 per share. State Bank of India gained by 2.2 per cent, SBI Life by 2.1 per cent and ICICI Bank by 1.9 per cent The other prominent winners were Britannia, Nestle India, Bajaj Auto, Hero MotoCorp, Wipro and Bharti Airtel. However, Adani Ports fell by 1.9 per cent to close at Rs 819 per share. The others which lost were Titan, Tata Consumer Products, UPL, Hindustan Lever and Tata Motors. Meanwhile, a gauge of Asian shares climbed to three-week highs as investors eyed the upcoming earnings season for further signs of a global economic recovery. Besides, the IMF raised its global growth forecast to 6 per cent this year from 5.5 per cent, reflecting a rapidly brightening outlook for the US economy. MSCI's broadest index of Asia Pacific shares outside of Japan was up by 0.3 per cent for its second straight day of gains. Japan's Nikkei was 0.12 per cent higher while South Korea's Kospi added 0.33 per cent. Hong Kong's Hang Seng index fell by 0.91 per cent as technology stocks dipped.

Credit: ANI    Duration: 01:12Published
Veteran Hong Kong democracy leaders convicted over peaceful rally [Video]

Veteran Hong Kong democracy leaders convicted over peaceful rally

‘Father of democracy’ Martin Lee and media tycoon Jimmy Lai are among seven found guilty over 2019 protest.

Credit: Al Jazeera STUDIO    Duration: 05:17Published

Beijing Beijing Capital of the People's Republic of China

Beijing launches campaign against human rights abuse 'lies' [Video]

Beijing launches campaign against human rights abuse 'lies'

Some Chinese consumers are punishing foreign companies including Swedish clothing brand H&M for raising concerns about the use of forced labour in Xinjiang textile factories.

Credit: Al Jazeera STUDIO    Duration: 02:10Published
Beijing bounces back - and Turkey’s luck turns with gas discovery [Video]

Beijing bounces back - and Turkey’s luck turns with gas discovery

This week's Business Line looks at how Beijing has bounced back, the digital marketing boom - and Turkey’s gas discovery.

Credit: Euronews English    Duration: 08:00Published
EU-China: Sanctions, threats and boycotts see relations enter downward spiral [Video]

EU-China: Sanctions, threats and boycotts see relations enter downward spiral

Relations between the bloc and Beijing have taken a sudden turn for the worse after Brussels coordinated sanctions with its Western allies.

Credit: Euronews English    Duration: 02:50Published
China approves electoral shake-up for Hong Kong [Video]

China approves electoral shake-up for Hong Kong

China finalized a sweeping overhaul of Hong Kong's electoral system on Tuesday, Xinhua news agency reportedly as authorities seek to ensure "patriots" rule the global financial hub. Flora Bradley-Watson reports.

Credit: Reuters - Politics    Duration: 01:13Published

National People's Congress National People's Congress National legislature of the People's Republic of China

China's top annual political gathering wraps up [Video]

China's top annual political gathering wraps up

Hong Kong’s political system reforms and China's strained relationship with the US were the focus of the National People’s Congress.

Credit: Al Jazeera STUDIO    Duration: 02:56Published

South China Sea South China Sea A marginal sea of the Pacific Ocean from the Karimata and Malacca straits to the Strait of Taiwan

South China Sea: Chinese ships remain at Whitesun Reef [Video]

South China Sea: Chinese ships remain at Whitesun Reef

Philippine President Rodrigo Duterte is under increasing pressure to respond to Chinese vessels in its waters.

Credit: Al Jazeera STUDIO    Duration: 02:48Published
South China Sea dispute: Philippines wants Chinese ships to leave reef [Video]

South China Sea dispute: Philippines wants Chinese ships to leave reef

Why the Philippines says it is being provoked by Chinese boats it spotted in the South China Sea.

Credit: Al Jazeera STUDIO    Duration: 02:36Published
Blinken warns China against 'coercion and aggression' [Video]

Blinken warns China against 'coercion and aggression'

U.S. Secretary of State Antony Blinken warned China on Tuesday against using "coercion and aggression" as he sought to use his first trip abroad to shore up Asian alliances in the face of growing assertiveness by Beijing. Lauren Anthony reports.

Credit: Reuters - Politics    Duration: 02:14Published

Taiwan Taiwan Country in East Asia

CNN10 - 4/14/21 [Video]

CNN10 - 4/14/21

Today’s first story centers on a Minnesota shooting involving a police officer and a civilian. Tensions between China and Taiwan are also discussed.

Credit: Bleacher Report AOL    Duration: 10:00Published

Taiwan invasion unlikely for now - but there are other ways China can turn the screw

The good news is that there are only five months when weather conditions are good enough to mount an invasion of Taiwan, according to Ian Easton, the author of..
Sky News
Will consumer demand outstrip supply in the U.S. running up to Christmas? [Video]

Will consumer demand outstrip supply in the U.S. running up to Christmas?

The Impact of COVID-19 on U.S. consumer spending and how that's impacting Taiwan - and a look at the growing Islamic economy. All in this episode of Business Line from Dubai.

Credit: Euronews English    Duration: 08:00Published
Taiwan seeks arrest warrant for suspect in deadly train crash [Video]

Taiwan seeks arrest warrant for suspect in deadly train crash

Taiwan’s worst rail accident in seven decades occurred after an express train hit a truck that had slid down a bank next to the track.

Credit: Al Jazeera STUDIO    Duration: 02:02Published
Salvage teams tow derailed Taiwan train after deadly accident [Video]

Salvage teams tow derailed Taiwan train after deadly accident

Salvage teams begin removing mangled train carriages after Taiwan's worst rail disaster in decades killed at least 50 people.

Credit: euronews (in English)    Duration: 00:50Published

London London Capital and largest city of the United Kingdom

Europe's Muslims prepare for second Ramadan under shadow of pandemic [Video]

Europe's Muslims prepare for second Ramadan under shadow of pandemic

From London to Madrid, Islam's holiest month will be marked under pandemic restrictions for the second consecutive year.

Credit: Euronews English    Duration: 01:09Published

Surge testing to take place in an area of north London after cases of South African COVID variant found

Surge testing is to take place in an area of north London after cases of the South African variant of COVID-19 were detected there.
Sky News

Surge testing to take place in Barnet after cases of South African COVID variant found

Surge testing is to take place in the north London area of Barnet after cases of the South African variant of COVID-19 were detected there.
Sky News
Floating pavilions dock in London's Canary Wharf [Video]

Floating pavilions dock in London's Canary Wharf

Two floating pavilions have arrived in London's Canary Wharf, with one of these aqua based constructs to become the home of a new restaurant by the end of the year.

Credit: PA - Press Association STUDIO    Duration: 00:55Published

Related news from verified sources

How China's plan to neuter Hong Kong oppn works

The "reforms" unveiled on Tuesday are the most dramatic overhaul of Hong Kong's political system...
IndiaTimes - Published


Related videos from verified sources

Group of wild boar spotted sleeping at construction site in Hong Kong [Video]

Group of wild boar spotted sleeping at construction site in Hong Kong

A group of wild boar was spotted recently sleeping on piles of sand at a construction site in Hong Kong.

Credit: Newsflare STUDIO     Duration: 00:13Published
Once Upon a Time in Hong Kong Movie [Video]

Once Upon a Time in Hong Kong Movie

Once Upon a Time in Hong Kong Movie Trailer HD - Plot synopsis: In the early 70s Hong Kong, corruption was as rampant as ever. Chinese detective sergeant Lak Chui(Francis Ng) colluded with Cripple Ho..

Credit: Teaser Trailer     Duration: 01:23Published
Japan Records Earliest Cherry Blossom Bloom in 1,200 Years [Video]

Japan Records Earliest Cherry Blossom Bloom in 1,200 Years

Japan Records Earliest Cherry Blossom Bloom in 1,200 Years. In Kyoto, this year’s sakura bloom took place on March 26 and in Tokyo on March 22, the second-earliest date on record. The peak bloom..

Credit: Wibbitz Top Stories     Duration: 00:58Published