STOCK MARKET WATCH -- Friday, 11 January 2013

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27. China Sends Fighter Jets To Meet Japan's F-15s In The East China Sea

http://www.businessinsider.com/china-fighter-jet-flights-diaoyu-senkaku-islands-2013-1

After repeatedly flying surveillance aircraft into disputed airspace with Japan, and Tokyo scrambling F-15s in response, China's now sending fighters of its own on "routine flights" into the East China Sea.

China Daily:

A Foreign Ministry spokesman said Friday that Chinese military planes were on"routine flights" in relevant airspace over the East China Sea. Spokesman Hong Lei made the remarks at a press briefing in response to media reports that Japan sent fighter jets to head off a number of Chinese military planes spotted in Japan's "air defense identification zone" over the East China Sea on Thursday.

"China firmly opposes Japan's moves to gratuitously escalate the situation and create tensions," Hong said.

The area north of the Japanese-controlled Senkaku islands, known as the Diaoyus in China, is reportedly home to billions in oil and gas deposits claimed both by Japan and China.


Read more: http://www.businessinsider.com/china-fighter-jet-flights-diaoyu-senkaku-islands-2013-1#ixzz2Hg2TlsQI