US vs China: China Orders US Consulate in Chengdu to Close as Tension Rises
US vs China: China Orders US Consulate in Chengdu to Close as Tension Rises
Relationship between China and the US have been increasingly strained. Beijing has ordered the closure of a US consulate in south-western China, in a move that escalates tensions between the two countries to a new level.
However, this is a ‘Tit-for-tat’ move by Beijing to get back at US for ordering Chinese mission in Houston to close.
On Friday, China’s ministry of foreign affairs said it had ordered the US consulate in Chengdu, in Sichuan province, to cease all operations. Authorities notified the US of China’s decision to revoke its consent for the consulate to operate, according to a notice on the ministry’s website.
Describing the measure as a “legitimate and necessary response” to the actions of the US, which earlier this week gave the Chinese consulate in Houston, Texas, 72 hours to close, Beijing called on Washington to reverse its decision. Chinese officials said on Friday the mission in Houston was still operating.
“The current situation between China and the United States is something China does not want to see, and the responsibility rests entirely with the United States,” it said, urging the US to bring “bilateral relations back on track”.
China’s ministry of foreign affairs did not give a deadline for when the consulate must close but the editor of the state-run Global Times newspaper said on Twitter the consulate had been given 72 hours to close.
Without giving further details, the US said it ordered the Chinese consulate in Houston to shut in order to protect “American intellectual property and private information”.
China called the measure “unprecedented” and “outrageous”, and accused US diplomats of “infiltration and interference activities”.
According to the Guardian, Pompeo said: “Today China is increasingly authoritarian at home, and more aggressive in its hostility to freedom everywhere else.”
“We, the free nations of the world, must induce change in the Chinese Communist party’s behaviour in more creative and assertive ways, because Beijing’s actions threaten our people and our prosperity,” he said, calling the Chinese leader, Xi Jinping, a “true believer in a bankrupt, totalitarian ideology”.
“If the free world doesn’t change communist China, communist China will change us,” he added.
A Chinese foreign ministry spokeswoman described as futile Pompeo’s efforts to “launch a new crusade against China”. “What he is doing is like an ant trying to shake a tree,” she wrote in English and Chinese on Twitter, which is blocked in China and used by Chinese diplomats to target international audiences.
Wang on Friday described Pompeo’s speech as a “malicious” and “groundless attack” on the Communist party and its domestic and foreign policies. “Pompeo’s remarks ignore facts, turn what is black into white and are full of ideological prejudice and a cold war mindset,” he said.
Hours after the foreign ministry’s announcement, Americans in China received a security alert, reminding them of the risk of “arbitrary detention” and the possibility of being blocked from leaving, or exit bans. US citizens in China received a similar alert a few weeks ago.
The most recent notice told Americans to “exercise increased caution,” warning that citizens may be “subjected to prolonged interrogations and extended detention for reasons related to ‘state security’”.
On Friday, journalists in Chengdu reported a heavy police presence outside the consulate following the announcement on Friday, with officers checking phones and ordering people to delete photographs.
It was not clear how many people would be affected by the closure. In 1985, it has more than 200 employees, including about 150 are locally hired Chinese staff. Many diplomats had left the country during the pandemic and have struggled to return.
A livestream hosted by the state broadcaster CCTV showed little movement outside the mission but was being watched by as many as 20 million people on Friday afternoon. Many signaled their support of the closure – with one internet user calling for the mission to be renovated and turned a hotpot restaurant. Others criticised the measure.
“Confrontation is not good, it affects the economy. It affects everyone,” one user said.
Leave a Reply
Leave a Reply
CBN Sells Polaris Bank To SCIL
The Central Bank of Nigeria (CBN) has announced the completion of the sale of shares in Polaris Bank to Strategic Capital Investment Limited (SCIL), a new core investor.
In a statement signed by its Director, Corporate Communications Department, Osita Nwanisobi, the CBN said that SCIL has paid an upfront consideration of N50 billion to acquire 100% of the equity of Polaris Bank and has accepted the terms of the agreement, including the full repayment of the sum of N1.305 trillion, being the value of the bonds, which as part of its intervention, in 2018, to revoke the licence of the former Skye Bank Plc. and establish Polaris Bank to assume its assets and certain liabilities, the banking industry regulator injected into Polaris through the Asset Management Corporation of Nigeria (AMCON) and is to be repaid over a 25-year period.
The statement reads: “The Central Bank of Nigeria (CBN) and the Asset Management Company of Nigeria (AMCON) are pleased to announce the completion of a Share Purchase Agreement (SPA) for the acquisition of 100% of the equity in Polaris Bank by Strategic Capital Investment Limited (‘SCIL’).
“Polaris has been operating as a bridge bank since 2018 when the Central Bank of Nigeria intervened to revoke the licence of the former Skye Bank Plc. and established Polaris Bank to assume its assets and certain liabilities. As part of the CBN intervention, consideration bonds with a face value of N898 billion (future value of N1.305 trillion) was injected into the bridge bank through AMCON, to be repaid over a 25-year period.
“These actions were taken to prevent the imminent collapse of the bank, enable its stabilisation and recovery, protect depositors’ fund, prevent job losses and preserve systemic financial stability. SCIL has paid an upfront consideration of N50 billion to acquire 100% of the equity of Polaris Bank and has accepted the terms of the agreement which include the full repayment of the sum of N1.305 trillion, being the consideration bonds injected.
“The CBN thus received an immediate return for the value it has created in Polaris Bank during the stabilisation period, as well as ensuring that all funds originally provided to support the intervention are recovered. The sale was coordinated by a Divestment Committee comprising representatives of the CBN and AMCON, and advised by legal and financial consultants. The Committee conducted a sale process by ‘private treaty’, as provided in Section 34(5) of the AMCON Act to avoid negative speculations, retain value and preserve financial system stability.
“In the process, parties who had formally expressed an interest in acquiring Polaris Bank, subsequent to the CBN intervention in 2018, were invited to submit financial and technical proposals. Invitations to submit proposals were sent to 25 pre-qualified interested parties, out of which three parties eventually submitted final purchase proposals following technical evaluation. All submissions were subject to a rigorous transaction process from which SCIL emerged as the preferred bidder having presented the most comprehensive technical/financial purchase proposal as well as the highest rated growth plans for Polaris Bank.”
The CBN Governor, Mr. Godwin Emefiele, was quoted in the statement as saying that: “This sale marks the completion of a landmark intervention in a strategic institution in the Nigerian banking sector by the CBN and AMCON. We commend the outgoing board and management for their vital role since the bridge bank was established; in stabilising the Bank’s operations, its balance sheet and implementing strong governance structures to address the issues that led to the intervention.
“This process has provided the CBN with an unprecedented opportunity to recover its intervention funds in full and promote financial stability and inclusive growth. We wish SCIL well as they implement growth plans to build the bank from the strong foundations that have been established.”
Media Intelligence agency Marks Six years of Operation in Nigeria
Media Intelligence agency Marks Six years of Operation in Nigeria.
P+ Measurement Services, Nigeria’s foremost Independent Public Relations measurement and evaluation agency, celebrates its sixth year of effective operation with qualitative offerings for its numerous clients, as it rebrands with a new business logo, website, and office to deepen penetration.
The leading company has in the past six years engendered the needed growth for its clients, and the rebranding is part of efforts aimed at sustaining its leading position in the sector, having worked with over 47 brands and 17 Public Relations agencies in Africa’s largest economy.
The logo with new colors depicts the innovation and creativity of the brand, as also shown on its new website with the agency service rate, to enable brands and agencies to make faster decisions in budgeting.
YOU MIGHT BE INTERESTED IN THESE ARTICLES;
As the only AMEC Member in Nigeria, P+ has strong partnerships with the Nigerian Institute of Public Relations (NIPR) and Reelforge Media Monitoring, the biggest media monitoring agency in the East African region, covering more than five countries.
Speaking on the company’s new development, the Chief Insights Officer, Philip Odiakose, said P+ is strongly positioned to effectively deliver on its offerings, with state-of-the-art structure, process and highly skilled media analysts in an exceptional and value-driven business model in line with global best practices.
“Our Measurement and Evaluation report is in-depth, robust, and flexible to accommodate valid metrics that brands desire to see reflected in their customized reports, and also based on the AMEC Standard in accordance with the Barcelona Principle 3.0. We deploy the P+MCA (media content analysis) methodology for media evaluation and analysis based on qualitative and quantitative metrics in analyzing media exposure,” Odiakose affirmed.
He said the new office would serve as a hub in the country and the West Africa sub-region, where the company will provide media monitoring, measurement, evaluation, and performance audit services for brands, media agencies, government agencies and NGOs.
Also as part of its efficient services, the measurement and evaluation company introduced “Get-Reports,” a novel product that allows the purchase of PR performance audit reports in key sectors.
The “Get-Reports” product spans across different industries which includes the 22 Commercial Nigerian Banks PR Performance Audit Report, Top Nigerian Insurance PR Performance Audit Report, Top Nigerian Digital Banks PR Performance Audit Report, and Top Online Streaming Services PR Performance Audit Report.
It’s not too late for NASS to revisit e-transmission of election results – SAN
By Gistflash News
Sept 26, 2021
The clause 52(2) of the bill gives the Independent National Electoral Commission (INEC) the discretion to determine when, where and how voting and transmission of results will be done.
The Senate had ruled out the possibility of having results transmitted electronically when it voted that the NCC, with the National Assembly’s approval, would determine whether INEC could transmit results electronically or not.
Similarly, the House of Representatives, on July 16, passed the Electoral Act (Amendment) Bill, maintaining the controversial Clause 52(2) as presented amidst protests, especially by members of the minority caucus.
After the passage of the bill, the Speaker, Mr Femi Gbajabiamila, criticised the proposed electronic transmission of election results, saying it was not feasible in the country for now.
LET’S REVAMP YOUR BUSINESS
Let’s keep you updated
HOW TO BUY FOLLOWERS FOR ALL YOUR SOCIAL MEDIA ACCOUNTS
Gorgeous Bride rocking one of Beyonce’s Hit song
Most Viewed Posts
- CBN Sells Polaris Bank To SCILSpread the loveThe Central Bank of Nigeria (CBN) has announced the completion of the sale of shares in Polaris Bank to Strategic Capital Investment Limited (SCIL), a new core investor. In a statement signed by its Director, Corporate Communications […]
- “No Way Back For You In Man United Squad, Spoilt Brat” – Darren Bent Slams RonaldoSpread the loveDarren Bent, a former Charlton, Tottenham and Sunderland striker, has suggested that the end of Cristiano Ronaldo has come at Manchester United. The former England man said he sees no way the former Real Madrid star can […]
- Gunmen Attack Anambra Police Station, Kill Four OfficersSpread the loveUnknown gunmen in the early hours of Wednesday attacked a police station located in Atani, the headquarters of Ogbaru Local Government Area of Anambra State. It was gathered that the gunmen launched the attack on the police […]
- Supreme Court Affirms Six-Year Jail Term For Former Director Of Pensions, John YakubuSupreme Court Affirms Six-Year Jail Term For Former Director Of Pensions, John Yakub The Supreme Court has affirmed the six years imprisonment imposed on a former Federal Director of Pensions, Mister John Yakubu, and also ordered him to refund […]
- Media Intelligence agency Marks Six years of Operation in NigeriaSpread the loveMedia Intelligence agency Marks Six years of Operation in Nigeria. P+ Measurement Services, Nigeria’s foremost Independent Public Relations measurement and evaluation agency, celebrates its sixth year of effective operation with qualitative offerings for its numerous clients, as it […]
Pingback: #BlackIsKing :Beyoncé Flexes her New Visual Album 'Already' (Video) - GistFlash