Delos Santos, Evelyn M. Updates on ASEAN

ASEAN TREASURY SUMMIT – March 15, 2016This one day event looks at how to optimize treasury operations in a complex multi jurisdictional region. Case studies and in-depth discussions provide treasurers from around the region and MNCs operating in the region with cutting edge knowledge of how to ensure they’re working as efficiently as possible. Hedging, tax, cash management, liquidity, funding, regulation, and more are on the cards for the next iteration of the ASEAN Treasury Summit along with a bigger picture discussion on whether the AEC is working and, if not, what needs to be done on a regulatory and infrastructure front to fulfil the initial prospects.

WHO SHOULD ATTEND

CorporatesYou are qualified for a complimentary pass* if you are:

CFO, Treasurer, Finance Director, SVP Finance, VP Finance, Controller, Corporate Finance, Corporate Secretary, Head of Finance, Head of Treasury, Auditor, Treasury Operations, Risk, Tax, Accounting

CEO, COO, President, VP, Managing Director

BanksYou are qualified for a complimentary pass* if you are:

 Internal treasury with job titles CFO, Treasurer, Head of Audit, Head of Compliance, Head of Risk

Delos Santos, Evelyn M. Updates on ASEAN

China urges U.S. to stop stirring hype over South China Sea 'militarization'

(Reuters) — Chinese Foreign Ministry on Monday (February 22) reaffirmed China's right to deploy necessary national defense facilities on its own islands in the South China Sea, and asked the United States to stop creating tension.

When asked about the message that China will send to the U.S. on the South China Sea issue, Chinese Foreign Ministry spokesperson Hua Chunying criticized the U.S. for stirring hype over the "militarization" of the South China Sea.

"The U.S. has recently made quite a lot of remarks about militarization. It is actually trying to confuse the public. There is no difference between China's deployment of necessary national defense facilities in its own territory and the defense installation by the U.S. in Hawaii," said Hua at a press briefing.

China's construction on its own islands in the South China Sea is for civilian purposes and providing better international public goods. The deployment of limited defense measures is granted by international law to sovereign states, and has nothing to do with "militarization", according to Hua.

Hua pointed out that the U.S. is not a party involved in the South China Sea dispute and the South China Sea issue is not, and should not become, a problem between China and the U.S..

Delos Santos, Evelyn M. Updates on ASEAN

The U.S., which has sent military vessels and planes to areas in the South China Sea to conduct close-in reconnaissance, is the source of tension and militarization of the South China Sea, Hua said.

She called on the U.S. to play a constructive role on the issue as maintaining peace and stability on the sea serves the common interest of China and the U.S., as well as all parties concerned.

"We hope that the U.S. would not confuse right and wrong on this issue, still less play up and create tensions in the region. We urge the U.S. to play a constructive role for regional peace and stability," said Hua.

Delos Santos, Evelyn M. Updates on ASEAN

China admits sending vessels to disputed atoll to tow ship

By CNN Philippines StaffUpdated 05:35 AM PHT Thu, March 3, 2016

(File photo) Vice Admiral Alexander Lopez, of the military's Western Command, said three to five Chinese Coast Guard boats were previously sighted at the contested atoll.Metro Manila (CNN Philippines) — China admitted on Wednesday (March 2) that it did send vessels to a disputed atoll in the South China Sea recently — but only to tow a stranded fishing boat.

Hong Lei, spokesman of the Chinese Foreign Ministry, explained that

the Chinese Coast Guard was informed about a foreign fishing vessel which was abandoned near the Jackson Atoll (Quirino Atoll) of the Nansha Islands (Spratly Islands).

Delos Santos, Evelyn M. Updates on ASEAN

Hong said the boat ran aground around late last year. Reuters reported that the stranded vessel was a Filipino ship.

"To avoid long-term stranding that might affect navigation safety and damage the marine environment, the China Rescue and Salvage unit of Ministry of Transport recently sent salvage vessels to tow the fishing boat and have handled it properly," Hong told reporters.

Related: China may be installing new radar on South China Sea outposts - think tank

Hong also said that during the towing operation, Chinese vessels temporarily stopped fishing boats near the area. He said these Chinese vessels promptly left the site when the towing was finished.

Hong, however, repeated Beijing's stance that China holds "indisputable sovereignty" over the islands in the South China Sea, including Jackson Atoll.

"China stands ready to make concerted efforts with ASEAN countries to comprehensively and effectively implement the Declaration on the Conduct of Parties and jointly safeguard peace and stability of the South China Sea," he added.

Related: China urges U.S. to stop stirring hype over South China Sea 'militarization'

Vice Admiral Alexander Lopez, commander of the military's Western Command, confirmed that there were indeed no more Chinese vessels in the area.

Lopez added that when planes flew over the area last week, Filipinos were already fishing there.

Meanwhile, the Department of Foreign Affairs (DFA) said it was monitoring the situation even if Chinese vessels were no longer stationed in the area.

The DFA also reiterated its call for China "to exercise self-restraint from the conduct of activities that could complicate or escalate disputes in the South China Sea and affect peace and stability in the region."

CNN's Shen Lu in Beijing contributed to this report.

Delos Santos, Evelyn M. Updates on ASEAN

China won’t budge on South China Sea sovereignty

BEIJING—China’s foreign minister on Tuesday took a hard line on the country’s claims to virtually all the South China Sea, saying Beijing won’t permit other nations to infringe on what it considers its sovereign rights in the strategically vital area.

Wang Yi, speaking to reporters at an annual news conference in Beijing, said that another nation’s claim to freedom of navigation in the region didn’t give it the right to do whatever it wanted—an apparent reference to the United States, which had sent naval ships past reefs where China had engaged in island-building.

Wang sought to deflect allegations China was militarizing the region by building military facilities on the artificial islands.

He said Beijing’s development there was defensive and that other nations were being militaristic—not China.

Delos Santos, Evelyn M. Updates on ASEAN

“China cannot be labeled as the most militaristic. This label is more suited to other countries,” Wang said.

China has come under fire from the United States and its allies in recent months over its land reclamation activities in the South China Sea, through which $5 trillion in ship-borne trade passes annually.

Beijing claims almost all of the South China Sea, but the Philippines, Brunei, Malaysia, Taiwan and Vietnam have overlapping claims.

The US Navy has carried out freedom of navigation exercises, sailing near disputed islands to underscore its rights to operate in the seas.

Those patrols, and reports that China is deploying advanced missiles, fighters and radar equipment on islands there, have led Washington and Beijing to trade accusations of militarizing the region.

Not free to run amokFreedom of navigation does not equal “freedom to run amok,” Wang said.US Defense Secretary Ash Carter has warned of “specific consequences” if China takes “aggressive” action in the region.He has said the US military is increasing deployments to the Asia-Pacific region and has planned to spend $425 million through 2020 to pay for more exercises and training with countries in the region that were unnerved by China’s actions.

“In fact, based on the joint efforts of China and other regional countries, the South China Sea is currently one of the safest and freest shipping lanes in the world,” Wang said.

UN case“China was the earliest to explore, name, develop and administer various South China Sea islands. Our ancestors worked diligently here for generations,” he added. “History will prove who is the visitor and who is the genuine host.”

In addition to reaffirming that South China Sea islands were an “integral” part of China’s territory that “every Chinese is obligated to defend,” Wang reiterated Beijing’s refusal to cooperate with an

Delos Santos, Evelyn M. Updates on ASEAN

International Court of Arbitration case brought by the Philippines in The Hague over disputed claims in the area.

Manila has asked Beijing to respect the decision, which is expected in May.But China has refused to recognize the case, insisting all disputes should be resolved through bilateral talks.

In his news conference, Wang reiterated that China was quite within its rights not to participate and accused unnamed others of being behind the case.

“The Philippines’ stubbornness is clearly the result of behind-the-scene instigation and political manipulation,” he said, without elaborating.China has conducted a massive program in the South China Sea over the past two years of land reclamation, piling sand atop reefs then adding airstrips and military facilities.

Neighbors have complained that the work has raised tensions by changing the status quo in the area, where six Asian governments have overlapping claims and which include some of the world’s busiest sea-lanes.

When asked whether China would allow foreign journalists to visit those islands, Wang stressed that the area also were intended for civilian uses and that once they were completed, foreign journalists would be invited to visit.