News Digest

China will not use aid to meddle in affairs

China's foreign aid programs must not interfere in the domestic affairs of countries that receive Chinese support, according to new rules from the Ministry of Commerce released on Nov 17.

China said in July that more than half its foreign aid of over $14 billion went to Africa.

China's aid programs must respect the sovereignty of the recipient country, the regulations said, even as the support helps to alleviate poverty, promote economic growth and develop diplomatic ties.

China has also worked to use its growing military power for humanitarian causes as it works to win over international support, dispatching a People's Liberation Army team to West Africa to aid in the fight against the Ebola crisis.

The rules also call for punishing acts of fraud, bribery and other improper uses of aid funds, and for aid workers to avoid engaging in outside businesses.

Stock Connect unites HK, Shanghai

Despite a lackluster opening day for the much-anticipated Shanghai Hong Kong Stock Connect program on Nov 17, stock analysts in both cities said investors, especially those in Shanghai, will need time to adjust to the new bourse program.

Though the benchmark indices of Hong Kong and Shanghai both shot up initially, investors' enthusiasm faded as the day wore on. The Shanghai Composite Index lost 0.19 percent to close at 2,474.01 against a lackluster turnover of 199.3 billion yuan ($32.4 billion), down from the average daily turnover of 248.5 billion yuan the previous week.

The performance of the Hong Kong exchange was even more discouraging, with the Hang Seng Index falling 1.21 percent to close at 23,797.08 on turnover of a mere HK$83.02 billion ($10.7 billion).

Nation to hammer out space program rules

China will speed up legislation covering space program activities to make better use of the nation's assets and boost space-related industries, senior officials say.

"As China puts more and more assets into space, conflicts involving our increasing number of activities, limited resources and space debris have become noticeable," Tian Yulong, secretary-general of the China National Space Administration, told reporters on the sidelines of an international workshop on space law that opened in Beijing on Nov 17.

Officials and experts from more than 30 nations and international organizations are taking part in the four-day event, which was hosted by the United Nations Office for Outer Space Affairs, the Asia-Pacific Space Cooperation Organization and the administration.

China Daily

(China Daily Africa Weekly 11/21/2014 page3)