China denies retaliating against US journalists, urges sincerity – Global Times

Late-Monday, China’s state-backed media Global Times (GT) shrugged off the US State Department’s allegations that Beijing is putting visa restrictions for American media on their land. Chinese Foreign Ministry spokesperson Zhao Lijian used the routine press conference to convey disregard for the Trump administration.

Elsewhere, CGTN came out with the news that the border tension between China and India is escalating. “China’s military is demanding India censure its soldiers whom China says illegally crossed the Line of Actual Control (LAC) on Monday and fired warning shots on Chinese border patrol soldiers,” said the update.

Key quotes

The Chinese Foreign Ministry slammed the US State Department spokesperson for calling so-called visa limitations on US media in China as a ‘reciprocal’ move against the Trump administration's suppression of Chinese journalists in the US, calling it totally groundless and saying the US is blaming others when it should be blaming itself.

The spokesperson's remarks came after a CNN report on Sunday painted a false picture that Beijing is cutting what normally is a year-long visa extension for journalists with US media working in China to only two months.

Zhao also said that since 2018, about 30 Chinese journalists have had such an experience. In March, the US, in effect, expelled 60 Chinese journalists. On May 11, the US announced that visas for Chinese journalists are only good for 90 days starting from May 8. 

US journalists in China are clear on the said facts, and do not support the US government's crackdown on Chinese media and using media from the two countries as pawns, Zhao said.

If Washington truly cares about American journalists, it should approve the visa extensions of all Chinese journalists, rather than hold journalists as hostages for the political interests of certain politicians.

FX implications

Considering the tussle with the world’s biggest industrial player China, these news weigh on the market’s risk-tone sentiment and exert downside pressure on the sentiment barometer like AUD/USD. That said, the quote presently struggles for a clear direction around 0.7275/80.