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☆ U.S. consumer plays in China are more than coffee and iPhones. Stocks to watch
▼ + stars: | 2024-03-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Domino's Pizza's China operator DPC Dash reported Wednesday its 26th straight quarter of same-store sales growth — including the pandemic period. Pizza push Domino's has a roughly 14% stake in DPC Dash, which listed in Hong Kong about a year ago. Woo has a buy rating on DPC Dash and a price target of 73.05 Hong Kong dollars. "Chinese people do eat pizza," DPC Dash CEO Wang said. Yum China, which owns Pizza Hut in China among other brands, is set to release earnings in late April.

Persons: DPC Dash, they've, Xi Jinping, Papa John's, Papa, DPC, Aileen Wang, Wang, Walter Woo, Woo, McDonald's, That's, Christopher J, Kempczinski Organizations: Starbucks, Apple, HSBC, U.S, DPC, Advertising, Hong, Hong Kong Stock Exchange Locations: China, Shanghai, U.S, DPC, Hong Kong, North America, Beijing, Xi'an, Changsha, FY24E, Thurs

☆ China unveiled new dragon-themed drillers that it hopes will build the world's 'longest undersea high-speed railway tunnel'
▼ + stars: | 2024-02-27 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

China just showed off its second dragon-themed tunneller, which it said will drill an undersea railway. It's touted by China as the world's longest undersea high-speed railway tunnel. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChina's state-run railway giant on Monday revealed the second of its dragon-themed tunnel-boring machines for what it says is the longest undersea rail channel in the world. The Yongzhou machine, unveiled at China Railway Construction's Changsha facility, was given a "Dragon of Fortune" paint coat to commemorate the Year of the Dragon, per state media The People's Daily.

Persons: — Organizations: Service, China, Business Locations: China, Japan, Changsha

☆ Biden resists pressure from lawmakers and seeks short extension to key China science pact
▼ + stars: | 2023-08-24 | by ( Jennifer Jett | Abigail Williams | ) www.cnbc.com time to read: +4 min

The Biden administration is seeking a short-term extension to a landmark science and technology agreement with China despite pressure from some U.S. lawmakers who say Beijing could exploit it to gain a security and military advantage. A six-month extension to the Science and Technology Agreement, or STA, will keep the pact in force as the U.S. seeks "authority to undertake negotiations to amend and strengthen the terms," a State Department spokesperson told NBC News on Wednesday. "If it were to go away, not only would it impede government-to-government cooperation, but it would also put other science cooperation at risk," said Seligsohn, a former environment, science, technology and health counselor at the U.S. Embassy in Beijing. China also considers it the enabling document for all other science cooperation with the U.S., including with academic and research institutions. The State Department spokesperson said it was aware of the issues involved with working with China in the are of science and technology.

Persons: Biden, Jimmy Carter, Deng Xiaoping, Deborah Seligsohn, Antony Blinken, Elise Stefanik, Mike Gallagher of, Blinken, Sen, Rick Scott, Donald Trump Organizations: Central South University, Science, Technology, State Department, NBC News, U.S, Villanova University, Embassy, House Republican Conference Locations: China, Central, Changsha city, Hunan province, Beijing, U.S, New York, Mike Gallagher of Wisconsin, United States

Analysts see this more than 7 percent increase in the number of drivers as a manifestation of the subdued job market. At least four others have issued warnings of overcapacity, with some saying drivers get fewer than 10 orders a day as a result. Cai said he earns 200-300 yuan a day, driving for Didi Global - China's answer to Uber - from 8.00 am until close to midnight. Up until recently, he made 400 yuan a day plus bonuses, going home before 8.00 pm. Shanghai driver Li Weimin's rationale for working underscores the shrinking job market.

Persons: Zhu Zhimin, Zhu, Wang Ke, James Cai, Cai, Didi, Wang, Nanxun Li, It's, Li, Casey Hall, Xihao Jiang, Marius Zaharia Organizations: Transport, Thomson Locations: SHANGHAI, Shanghai, China, Cities, Sanya, Changsha, Haikou, Hainan, Analysys, Beijing

☆ China’s sitting on a goldmine of genetic data – and it doesn’t want to share
▼ + stars: | 2023-08-11 | by ( Jessie Yeung | ) edition.cnn.com time to read: +14 min

The national survey and restrictions on foreign access are part of new regulations on China’s genetic resources, which came into effect in July. The national genetic surveyBiobanking in China – meaning the collection of biological samples – is still “very fragmented,” and in an “embryonic stage,” said Zhang. But these concerns aren’t new – and the national genetic survey seems to be geared more toward scientific research than other purposes, several experts agreed. But China has another motive, too: establishing what some experts call “genomic sovereignty,” meaning full control of the genetic material within their country. While many other countries also have laws regulating the use and transfer of their population’s genetic material, few are as strict as China’s.

Persons: Guang Niu, ”, Joy Y, Zhang, you’re, Wei Liang, ICHPL, Anna Puglisi, Puglisi, States –, Katherine Wang, ” –, Wang, “, Sun, Xi Jinping, Jiankui, Anthony Wallace, ” Zhang Organizations: Hong Kong CNN, Central South University, Centre for Global Science, biosciences, Shanxi Province Reproductive Science, Communist Party, Georgetown’s Center for Security, Emerging Technology, Gray, Group, CNN, Ministry of Science, Technology, National Health Service, National Institutes of Health, NIH Locations: Hong Kong, China, Changsha, Shanxi Province, Taiyuan, States, “, Wuhan, Xinijang, Xinjiang, Beijing, AFP, Harvard

☆ China's Tiananmen Square demonstrations and crackdown
▼ + stars: | 2023-06-04 | by ( ) www.reuters.com time to read: +4 min

Tanks rolled into the square before dawn on... Read moreJune 4 (Reuters) - Sunday is the 34th anniversary of China's bloody crackdown on pro-democracy demonstrations in and around central Beijing's Tiananmen Square, when Chinese troops opened fire on their own people. April 17: Protests begin at Tiananmen Square, with students calling for democracy and reform. May 13: Hundreds of students begin a hunger strike on Tiananmen Square. May 30: Students unveil a 10-metre (33 ft) high "Goddess of Democracy", modelled on the Statue of Liberty, in Tiananmen Square. June 5: An unidentified Chinese man stands in front of a tank convoy leaving Tiananmen Square.

Persons: Read, Hu Yaobang, Mikhail Gorbachev, Gorbachev, Zhao Ziyang, Li Peng, Wen Jiabao, Zhao, Li, Butcher, Yuan Mu, Deng Xiaoping, Ben Blanchard, Robert Birsel Organizations: Communist Party, of, Asian Development Bank, People, Paramount, Thomson Locations: Tiananmen, Beijing, China, Xian, Changsha, Shanghai, Great

☆ Consumers in China are dining at nicer restaurants — even if it costs $500 a person
▼ + stars: | 2023-05-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Despite the Covid-19 pandemic, a brand called Lu Style opened four new restaurants in the last three years in Beijing and Shanghai. Since Lu Style launched in 2016, more people no longer focus on just being able to eat, said Tian Junfeng, director of operations. Tian said Lu Style will be focused on improving customer service in the coming months. The 2023 rankings selected 304 restaurants — most of which were in China, including Lu Style. Two Lu Style locations have one Michelin star each, and the France-based guide includes more than 400 restaurants in mainland China.

☆ China's May Day holiday spending exceeds pre-pandemic levels for the first time
▼ + stars: | 2023-05-04 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Holiday spending during China’s Golden Week has surged past pre-pandemic levels for the first time in three years, in a sign the country’s travelers have fully emerged from the depths of Covid-related restrictions and are eager to live large to make up for lost time. Alipay, the country’s biggest digital payment app, reported a 200% increase in online holiday spending from a year earlier. “The fact that domestic tourism spending is now back to 2019 levels suggests that the reopening boost to consumer spending has largely run its course,” said Capital Economics analysts in a Thursday report. “The swift recovery in in-person services has been the major driver of China’s post-Covid recovery this year,” they said. However, “the lackluster property recovery, a global slowdown and rising geopolitical conflict remain major challenges for China’s recovery to be sustained.”

☆ Biden should sanction Huawei Cloud, other Chinese firms -senators
▼ + stars: | 2023-04-25 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, April 25 (Reuters) - A group of nine Republican senators on Tuesday urged the Biden administration to impose sanctions on Huawei Cloud and other Chinese cloud service providers, citing national security concerns, according to a letter seen by Reuters. The senators said Huawei Cloud launched its "Sky Computing Constellation" in co-sponsorship with Changsha Tianyi Space Science and Technology Research Institute also known as "Spacety China" in 2021. Alibaba Cloud, a subsidiary of Alibaba Group Holding Ltd (9988.HK), did not immediately comment. Reuters reported in January 2022 that the Biden administration was reviewing the cloud business of e-commerce giant Alibaba to determine whether it poses a risk to U.S. national security. The letter said the Biden administration should consider further investigation or actions against China’s other cloud service providers including Baidu Cloud and Tencent Cloud which may impact U.S. national security.

☆ China protests U.S. sanctioning of firms dealing with Russia
▼ + stars: | 2023-04-15 | by ( ) www.cnbc.com time to read: +4 min

Beijing on Saturday protested U.S. sanctions against additional Chinese companies over their alleged attempts to evade U.S. export controls on Russia, calling it an illegal move that endangers global supply chains. "The U.S. should immediately correct its wrongdoing and stop its unreasonable suppression of Chinese companies. China will resolutely safeguard the legitimate rights and interests of Chinese companies," it added. However, Foreign Minister Qin Gang on Friday said China won't sell weapons to either side in the war, responding to Western concerns that Beijing could provide outright military assistance to Russia. "Regarding the export of military items, China adopts a prudent and responsible attitude," Qin said at a news conference alongside visiting German counterpart Annalena Baerbock.

☆ Off-the-radar destinations every China visitor should consider
▼ + stars: | 2023-03-29 | by ( Maggie Hiufu Wong | ) edition.cnn.com time to read: +8 min

JingdezhenLarge chimneys, used for firing porcelain, dot the skyline of Jingdezhen city. gui yong nian/Adobe StockDubbed the porcelain capital of the world, Jingdezhen has been firing quality pieces of “white gold” for more than 1,700 years. For a crash course in the city’s porcelain history, visit the newly built and photogenic Jingdezhen Imperial Kiln Museum of China. LinhaiLinhai's historic city wall stretches more than 6,000 meters in length. Food aside, travelers should leave time to admire this historic city that dates back more than 2,000 years.

☆ Former Taiwan president Ma to visit China in landmark trip
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: 1 min

TAIPEI, March 19 (Reuters) - Former Taiwan President Ma Ying-jeou will visit China this month, his office said on Sunday, the first time a former or current Taiwanese leader has visited since the defeated Republic of China government fled to the island in 1949. Ma, who remains a senior member of Taiwan's Kuomintang (KMT) opposition party, held a landmark meeting with Chinese President Xi Jinping in Singapore in late 2015, shortly before current Taiwan President Tsai Ing-wen was elected. Ma's office said that he would visit China from March 27 to April 7 and go to the cities of Nanjing, Wuhan, Changsha, Chongqing and Shanghai. Reporting by Ben Blanchard Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ General Motors' China business is hurting, and it's not just because of Covid
▼ + stars: | 2023-03-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

He purchased his Nio over models from rival Chinese automakers Xpeng , Li Auto and IM Motors. GM's operations in the country are much larger than those of its crosstown rival Ford Motor, for example. Equity income from GM's Chinese operations and joint ventures has fallen 67% since its peak of more than $2 billion in 2014 and 2015. And the rising quality of domestic-made electric vehicles helped support — and tap — growing nationalistic pride among China's consumers. In February, Ford named Sam Wu, a former Whirlpool executive who joined the automaker in October, as president and chief executive of its China operations, starting March 1.

☆ How China's millionaire crowd stacks up against America's, in wealth, spending, and how they made their fortunes
▼ + stars: | 2023-02-22 | by ( Matthew Loh | ) www.businessinsider.com time to read: +1 min

China has 780,000 millionaires, while the US has nearly 7 times that. Visual China Group via Getty Images/Visual China Group via Getty ImagesWhile China and the US are comparable in nominal GDP, there are far more wealthy individuals in America than in China. That data came from a wealth report by the consultancy Henley & Partners, published in 2023. "America is in a league of its own, with three times the total wealth of China and seven times as many dollar millionaires," the report said. The US has 9,630 centimillionaires, or people with a net worth of $100 million or higher, and 770 billionaires, according to the firm.

WASHINGTON, Jan 26 (Reuters) - The United States on Thursday stepped up sanctions against the Wagner Group, labeling the Russian mercenary company fighting in Ukraine as a transnational criminal organization responsible for widespread human rights abuses. The U.S. Treasury Department, as part of action targeting dozens of people and entities in an effort to degrade Russia's ability to wage the war, said it designated Wagner Group as a "significant transnational criminal organization" on Thursday. It had previously designated Wagner under its Russia and Ukraine sanctions programs. "These images were gathered in order to enable Wagner combat operations in Ukraine," Treasury said. He said the United States assesses Wagner has about 50,000 personnel deployed to Ukraine, including 40,000 convicts recruited from Russian prisons.

☆ Treasury imposes sanctions against Russian paramilitary firm Wagner Group
▼ + stars: | 2023-01-26 | by ( Amanda Macias | ) www.cnbc.com time to read: +5 min

A mural praises the Russian Wagner group and its mercenaries fighting in Ukraine on March 30, 2022 in Belgrade, Serbia. The Treasury Department identified the Wagner Group, led by Putin crony Yevgeny Prigozhin, as a "significant transnational criminal organization." Joint Stock Company Terra Tech, a Russian-based technology firm, for providing space and aerial imagery to the Wagner Group. Joint Stock Company Research and Production, a Russian space company supporting Russia's military activities in Ukraine. In addition, State announced steps to impose visa restrictions on 531 members of the Russian military for their role in Ukraine.

☆ They Poured Their Savings Into Homes That Were Never Built
▼ + stars: | 2023-01-24 | by ( Isabelle Qian | Agnes Chang | ) www.nytimes.com time to read: +13 min

We talked to four people who emptied their life savings and took out huge loans for homes that have not been completed. “It was a simple dream — to have a home, a family,” Mr. Tang said. Mr. Tang, who works in a restaurant, sold a small place he had out in the countryside. “When I think about the unfinished apartment, it’s as if I’m falling from heaven to hell, ” Mr. Tang said. Homeowners atop one of the unfinished apartment towers call for construction to fully resume.

China said last Saturday that nearly 60,000 people with COVID died in hospitals between Dec. 8 and Jan. 12 - a roughly ten-fold increase from previous disclosures. However, that number excludes those who die at home, and some doctors in China have said they are discouraged from putting COVID on death certificates. China's chaotic exit from a regime of mass lockdowns, travel restrictions and frequent COVID testing, has also prompted a run on drugs as people fend for themselves against the disease. To meet soaring demand, drugmakers in China are ramping up operations to triple their capacity to make key fever and cough medicines, the state-run China Daily reported on Thursday. Medical facilities are relatively weak in rural areas, thus prevention is difficult and the task is arduous," Xi said, adding that the elderly were a top priority.

☆ Factbox: A chronology of dissent in China in recent decades
▼ + stars: | 2022-11-30 | by ( James Pomfret | ) www.reuters.com time to read: +5 min

The following is a timeline of some other notable protests, and public dissent against China's ruling Communist Party. 2009 - Xinjiang - In the region's worst ethnic unrest in decades, ethnic Uighurs attacked majority Han Chinese in the capital Urumqi, after an incident involving Uighur workers in a factory in southern China. China later builds massive "facilities" to turn Xinjiang into what a United Nations panel described as a "massive internment camp shrouded in secrecy". China later imposes a powerful national security law, arresting scores of democrats and shutting down civil society groups and liberal media outlets, including the Apple Daily newspaper. 2022 - Henan bank protests - Public protests simmer as thousands lose access to their savings in a banking fraud scandal centred on rural lenders in Henan and Anhui provinces.

☆ At least 38 killed in fire at industrial wholesaler in central China
▼ + stars: | 2022-11-22 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

BEIJING — A blazing fire has killed 38 people at a company dealing in chemicals and other industrial goods in central China’s Henan province. A fire has killed 36 people at a chemicals and industrial goods company in central China’s Henan province. Online listings for the company, Kaixinda, said it was a wholesaler dealing in a wide range of industrial goods including what was described as specialized chemicals. The chemicals were found to be falsely registered and stored, with local officials found complicit in turning a blind eye to the potential threat. The densely populated and economically vital province has seen a number of deadly incidents leading to the arrest of local officials.

Chinezii din provinciile Hunan, Jiangxi (centru) şi Zhejiang (est) sunt afectaţi de aceste restricţii atât acasă, cât și la muncă, potrivit presei şi autorităţilor locale. Lifturile, oprite pentru economie de curentLa începutul lunii decembrie, provincia Hunan a decretat stingerea, timp de mai multe ore pe zi, a iluminatului clădirilor şi a limitat încălzirea în locurile de divertisment. În provincia Zhejiang, uzinele au primit ordinul de a opri producţia, iar sistemul public de iluminat a fost oprit pe perioada nopţii pentru a reduce emisiile, susţin mass media şi internauţii. Obiectivele de mediu ale ChineiAceste incidente ilustrează provocările cu care se confruntă o China în plină dezvoltare, constrânsă să realizeze un echilibru între nevoile populaţiei sale şi angajamentele în materie de mediu. Însă tensiunile dintre China şi Australia au declanşat îngrijorări pe pieţele de materii prime, ceea ce a dus la creşterea preţului cărbunelui în China”, susţine Yan Qin, analist la Refinitiv.

Persons: Lauri, Autorităţile, Celsius, susţine Yan Locations: Hunan, Jiangxi, Helsinki, Zhejiang, China, Chinei, Beijing, Canberra, Australia

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