Beijing says ties with Manila can flourish despite sea feud

Jul 22, 2015

Beijing says ties with Manila can flourish despite sea feud

The Chinese ambassador in Manila said Wednesday that trade between China and the Philippines grew last year despite their protracted territorial conflicts, providing hope their relations could flourish even as tensions remain. Ambassador Zhao Jianhua also played down reports that Chinese President Xi Jinping ...

Jul 21, 2015

College librarian in China admits he replaced art with fakes

A former chief librarian at a Chinese university admitted in court Tuesday to stealing more than 140 paintings by grandmasters in a gallery under his watch and replacing them with fakes he painted himself. For two years up until 2006, Xiao Yuan substituted famous ...

Philippines hikes defense budget 25% amid China tensions

Jul 21, 2015

Philippines hikes defense budget 25% amid China tensions

The Philippines is planning a 25 percent hike in its defense budget next year, mainly to bolster its claims in the disputed South China Sea, officials said Tuesday. The proposed 2016 national budget, which President Benigno Aquino is to present to parliament for approval ...

Jul 21, 2015

Tokio Marine to use Citic to grow in China after U.S. foray

Tokio Marine Holdings Inc., fresh from its biggest acquisition in the U.S., is now looking for opportunities in China. The insurer plans to utilize its ties with Citic Group Corp., China’s biggest conglomerate, to expand in the country, Tsuyoshi Nagano, Tokio Marine’s president and ...

Jul 20, 2015

China says gold stash rose almost 60% in six years

China’s official gold reserves rose by almost 60 percent over the past six years, according to the first official data on the subject since 2009. The central People’s Bank of China (PBoC) said bullion holdings rose to 1,658 tons as of the end of ...