China’s economy struggles with multiple problems and without robust reforms, Beijing is likely to face a threat to the growth prospects in the coming years, hurting its global position, according to a new report. Washington-based think tank Atlantic Council GeoEconomics Center and research organization Rhodium Group on Oct. 1 released a report titled “Running out of road: Running out of road: China Pathfinder 2023 annual scorecard.” The report identified core problems of the world’s second-largest economy, warning that “structural threats to economic stability have never been greater.” “The economic malaise that policymakers in Beijing are staring down now is not caused by cyclical factors like COVID, but by a failure to reform the country’s economic system,” the report noted....Read more https://www.theepochtimes.com/china/chinas-economy-is-running-out-of-road-report-5506070
Senate Majority Leader Chuck Schumer (D-N.Y.) told Chinese Communist Party (CCP) leader Xi Jinping on Monday that he was disappointed by China’s statement that failed to condemn Hamas’ deadly attack in Israel. Mr. Schumer, who is leading a bipartisan congressional delegation to China this week, said after a meeting with Mr. Xi that he was disappointed by the CCP’s remarks that showed “no sympathy” for the Israeli people. “The ongoing events in Israel over the last few days are nothing short of horrific. I urge you and the Chinese people to stand with the Israeli people and condemn the cowardly and vicious attacks,” he remarked.... 
Chinese leader Xi Jinping met with a bipartisan delegation of U.S. senators in Beijing on Monday, the first exchange with American lawmakers in nearly a decade, sending a signal that the communist regime wants to engage with Washington in the face of a stalling economy. The six-member delegation, led by Senate Majority Leader Chuck Schumer (D-N.Y.) and Sen. Mike Crapo (R-Idaho), is on the third day of their Asia trip, which also includes stops in Japan and South Korea. In the opening remarks, Mr. Schumer urged Mr. Xi to support Israel, arguing that Beijing showed “no sympathy” to the nation under attack by Hamas terrorists over the weekend. On Sunday, China’s foreign ministry issued a statement on the Israel–Hamas War, calling on “relevant parties” to “immediately end the hostilities.” However, China’s statement did not mention Hamas....
In August, a large amount of RMB flowed into Hong Kong, bringing Hong Kong’s RMB deposits close to 1 trillion yuan (about $139 billion). On the other hand, the foreign exchange fund of Hong Kong, which is used to stabilize the Hong Kong dollar exchange rate and serves as the government’s fiscal reserve, experienced a drop of HK$35.8 billion (about US$4.57 billion) in August. One financial analyst pointed out that these figures indicate a large outflow of capital from Hong Kong. Figures released by the Hong Kong Monetary Authority (HKMA) on Sept. 29 showed that the amount of renminbi (RMB) deposits in Hong Kong increased by 6.0 percent to 962.5 billion yuan (US$134. 0 billion) at the end of August, and total RMB remittances for cross-border trade settlement amounted to 1,122.2 billion yuan (about US$156.1 billion) in August, up 9.7 percent month-on-month from 1,022.1 billion yuan (about US$142.3 billion) in July....