China's Xi Calls for 'More Quickly Elevating' Armed Forces

In this photo released by Xinhua News Agency, Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, attends a plenary meeting of the delegation of the People's Liberation Army (PLA) and the People's Armed Police Force during the first session of the 14th National People's Congress (NPC) in Beijing, on Wednesday, March 8, 2023. (Li Gang/Xinhua via AP)
In this photo released by Xinhua News Agency, Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, attends a plenary meeting of the delegation of the People's Liberation Army (PLA) and the People's Armed Police Force during the first session of the 14th National People's Congress (NPC) in Beijing, on Wednesday, March 8, 2023. (Li Gang/Xinhua via AP)
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China's Xi Calls for 'More Quickly Elevating' Armed Forces

In this photo released by Xinhua News Agency, Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, attends a plenary meeting of the delegation of the People's Liberation Army (PLA) and the People's Armed Police Force during the first session of the 14th National People's Congress (NPC) in Beijing, on Wednesday, March 8, 2023. (Li Gang/Xinhua via AP)
In this photo released by Xinhua News Agency, Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, attends a plenary meeting of the delegation of the People's Liberation Army (PLA) and the People's Armed Police Force during the first session of the 14th National People's Congress (NPC) in Beijing, on Wednesday, March 8, 2023. (Li Gang/Xinhua via AP)

China’s leader Xi Jinping has called for “more quickly elevating the armed forces to world-class standards,” in a speech days after he warned the country was threatened by a US-led campaign of “containment, encirclement and suppression of China.”

China must maximize its “national strategic capabilities” in a bid to “systematically upgrade the country’s overall strength to cope with strategic risks, safeguard strategic interests and realize strategic objectives,” Xi said Wednesday according to The Associated Press.

His remarks to delegates in the ceremonial parliament representing the People's Liberation Army, the military wing of the ruling Communist Party, and the paramilitary People's Armed Police, were carried by the official Xinhua News Agency.

Xi made a series of calls to accelerate the build-up of self-reliance in science and technology, bolster strategic capabilities in emergency fields, make industrial and supply chains more resilient and make national reserves “more capable of safeguarding national security.”

The program laid out by Xi dovetails with a number of national strategies already underway, including the “Made in China 2025” campaign to make China dominant in 10 key fields from integrated circuits to aerospace, and a decades-old campaign for civilian-military integration in the economy.

Xi also mentioned the need for “achieving the goals for the centenary of the PLA in 2027,” a date by which, according to some US observers, China intends to have the capability of conquering self-governing Taiwan, an American ally, by military means.

China has defined the centenary goals in mostly vague terms, such as greater "informatization" and raising the PLA to “world-class standards."

China needs to build “a strong system of strategic deterrent forces, raise the presence of combat forces in new domains and of new qualities, and deeply promote combat-oriented military training,” according to a speech Xi gave last year.

China’s defense budget has roughly doubled over the past decade, allowing it to maintain the world’s largest standing military, with 2 million members, the world’s largest navy by number of ships, and the largest missile and aviation forces in the Indo-Pacific.

His most recent comment came after a speech Monday to delegates attending the annual session of the rubber-stamp National People's Congress, that indicated Chinese frustration with US restrictions on access to technology and its support for Taiwan and regional military blocs in unusually blunt terms.

“Western countries led by the United States have implemented all-round containment, encirclement and suppression of China, which has brought unprecedented grave challenges to our nation’s development,” Xi was quoted as saying by the official Xinhua News Agency.

A State Department spokesperson, Ned Price, responded by saying Washington wants to “coexist responsibly” within the global trade and political system and has no intention of suppressing China.

“This is not about containing China. This is not about suppressing China. This is not about holding China back,” Price said in Washington. “We want to have that constructive competition that is fair” and “doesn’t veer into that conflict.”



Israeli Finance Minister Says Banks Should Not Obey EU Sanctions on Settlers

20 July 2022, Israel, Barkan: Right-wing settlers march to build a settlement in the West Bank near Barkan. (dpa)
20 July 2022, Israel, Barkan: Right-wing settlers march to build a settlement in the West Bank near Barkan. (dpa)
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Israeli Finance Minister Says Banks Should Not Obey EU Sanctions on Settlers

20 July 2022, Israel, Barkan: Right-wing settlers march to build a settlement in the West Bank near Barkan. (dpa)
20 July 2022, Israel, Barkan: Right-wing settlers march to build a settlement in the West Bank near Barkan. (dpa)

Israel's Finance Minister Bezalel Smotrich on Thursday condemned the country's banks that have refused to provide services to Israeli settlers sanctioned by the European Union and warned they may have to pay compensation to them.

The EU last year imposed sanctions on five Israeli settlers for violence against Palestinians and Smotrich said there were reports of sanctions being considered against other settlers.

But in a letter to the banking supervisor, he said Israeli banks should not follow a "zero risk" policy since it leads to the abandonment of Israeli clients "under the guise of compliance with foreign sanctions."

In a statement quoting his letter to the regulator, Smotrich called on banks to use their legal, economic, and international strength to fight "unjust sanctions", Reuters reported.

"The banks’ enormous profits enable them to take measured risks on behalf of their clients — especially when it comes to a national moral injustice," Smotrich, who leads the far-right Religious Zionism party, said.

Should banks continue to comply with sanctions and harm clients, Smotrich said he intended to promote immediate legislation that would require banks to pay substantial compensation to affected customers.

He also intends to require the Bank of Israel itself to offer banking services to citizens targeted by sanctions.

Responding to the letter, the Bank of Israel said that while banks must comply with international sanctions to avoid an array of risks, a draft directive it published on Thursday aimed to ensure appropriate banking services were available for the affected customers.

"Circumventing foreign sanctions regimes through the Israeli banking system exposes banking corporations to multiple risks, including compliance risks, anti-money laundering and counter-terror financing risks, legal risks, and reputational risks," the central bank said.

But it said it has taken steps to comply with sanctions "without banks resorting to blanket refusals to serve such customers."

While the sanctions in question concern Israeli settlers, the EU is reviewing its broad pact governing its political and economic ties with Israel in the face of mounting international pressure on Israel amid complaints about the lack of humanitarian aid reaching Gaza in the wake of the war triggered by Hamas' Oct. 7, 2023 attack.