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☆ China's true military spending in 2022 was likely worth $711 billion, or 'nearly equal' to the US military budget that year: US think tank
▼ + stars: | 2024-05-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

A new report says China's $229 billion military budget in 2022 was actually equivalent to $711 billion. AdvertisementIn June 2023, Sen. Dan Sullivan of Alaska warned Congress that China's military was catching up to America's faster than previously imagined. That makes Beijing's spending in 2022 "nearly equal" to the US defense budget of about $740 billion that year, wrote Eaglen, a senior fellow at AEI. Using that factor, Eaglen wrote that it's highly likely China's spending on personnel that year was worth $293 billion of US military spending. US military spending is also often cited as higher than the actual defense budget.

Persons: —, Sen, Dan Sullivan, Mackenzie Eaglen, Sullivan, Eaglen, haven't Organizations: AEI, Service, Republican, American Enterprise Institute, Pentagon, Beijing, United Nations, Labor, US Army, People's Armed Police, Liberation Army's, Publishing, Getty, China's, Guard Locations: Alaska, Beijing, Washington, China, Nanning, South, Guangxi Zhuang Autonomous, United States

☆ Geely-backed luxury EV brand Zeekr says it's already beating Tesla in parts of China
▼ + stars: | 2024-04-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Pictured here is the Zeekr 001 electric car at a services trade fair in Beijing on Aug. 31, 2023. China News Service | China News Service | Getty ImagesBEIJING — Chinese electric car brand Zeekr is selling more vehicles than Tesla in parts of China, and plans to expand in Europe and Latin America this year, Zeekr CEO Andy An told CNBC on Wednesday. For the first three weeks of April, Zeekr sold 500 more cars than Tesla in the province of Zhejiang, where Zeekr and its parent company Geely are based. Zeekr also slightly outsold Tesla in the province of Anhui, near Shanghai, and Guangxi, an autonomous region in southern China. The rapid rise of Chinese electric car companies, however, has also prompted the EU and U.S. to consider measures for protecting their own auto industries.

Persons: Andy, Elon, Tesla, Zeekr Organizations: China News Service, Getty, CNBC, EU Locations: Beijing, BEIJING, China, Europe, Latin America, Zhejiang, Anhui, Shanghai, Guangxi, Sweden, Netherlands, America, Hong Kong, Macao, Singapore

☆ China's fiscal stimulus is losing its effectiveness, S&P says
▼ + stars: | 2024-04-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's fiscal stimulus is losing its effectiveness and is more of a strategy to buy time for industrial and consumption policies, S&P Global Ratings senior analyst Yunbang Xu said in a report Thursday. The analysis used growth in government spending to measure fiscal stimulus. "In our view, fiscal stimulus is a buy-time strategy that could have some longer-term benefits, if projects are focused on reviving consumption or industrial upgrades that increase value-add," Xu said. The head of the top economic planning agency said in March that China would "strengthen macroeconomic policies" and increase coordination among fiscal, monetary, employment, industrial and regional policies. High debt levels limit how much fiscal stimulus a local government can undertake, regardless of whether a city is considered a high or low-income region, the S&P report said.

Persons: Yunbang Xu, Xu Organizations: Global Locations: Nanning, Guangxi Zhuang, China, BEIJING, Shenzhen, Bazhong, Sichuan

☆ Vietnam aims to start work on high-speed rail lines to China by 2030
▼ + stars: | 2024-04-10 | by ( ) www.cnbc.com time to read: +1 min

Vietnam's Prime Minister Pham Minh Chinh (R) bids farewell to China's President Xi Jinping after their meeting at the Government Office in Hanoi on Dec. 13, 2023. Vietnam aims to start building two high-speed railway lines linking its capital Hanoi with China before 2030, the Ministry of Planning and Investment said, another sign of a recent warming of ties between the two Communist-ruled neighbors. China is Vietnam's largest trading partner and a vital source of imports for its manufacturing sector. The two countries are already connected via a system of highways and two railway lines that are old and need upgrading on the Vietnam side. One of the planned high-speed lines would run from Vietnam's port cities of Haiphong and Quang Ninh through Hanoi to Lao Cai province, which borders China's Yunan province, the ministry said in a statement released late on Tuesday.

Persons: Pham Minh Chinh, Xi Jinping, Lao Cai Organizations: Vietnam's, Government, Ministry of Planning, Investment Locations: Hanoi, Vietnam, China, Vietnam's, Haiphong, Quang Ninh, Lao, China's Yunan, Lang Son, China's Guangxi

☆ Vietnam is planning high-speed rail connections with China
▼ + stars: | 2024-04-10 | by ( ) edition.cnn.com time to read: +2 min

Vietnam aims to start building two high-speed railway lines linking its capital Hanoi with China before 2030, the Ministry of Planning and Investment said, another sign of a recent warming of ties between the two Communist-ruled neighbors. The two countries are already connected via a system of highways and two railway lines that are old and need upgrading on the Vietnam side. Earlier this month, Vietnam said it was seeking to learn from China to develop its first high-speed railway network and had sent its officials to work with Chinese railway companies. A massive high-speed railway line linking capital Hanoi with business hub Ho Chi Minh City is also being planned in the country. Trade between Vietnam and China in the first quarter of this year rose 22% from a year earlier to $43.6 billion, according to Vietnamese government data.

Persons: Lao Cai, Vuong Dinh Hue, Xi Jinping Organizations: Ministry of Planning, Investment, National Locations: Vietnam, Hanoi, China, Vietnam’s, Haiphong, Quang Ninh, Lao, China’s Yunnan, Lang Son, China’s Guangxi, Chi Minh City, Beijing, South China

☆ A deadly Boeing 737 crash in China is still shrouded in mystery as the government says it found nothing abnormal before the plane nose-dived
▼ + stars: | 2024-03-26 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Read previewChinese authorities say they've yet to identify the cause of a Boeing 737 crash that killed 132 people two years ago, reporting that investigators found nothing abnormal occurring before the fatal incident. The report, published Wednesday by the Civil Aviation Administration of China, covers the government probe into the crash of flight MU5735, which was operated by China Eastern Airlines. AdvertisementBloomberg reported shortly after the crash, citing flight tracker data, that the plane hit the ground while traveling near the speed of sound. A rescuer ties a safety rope to a tree at the plane crash site in Tengxian County, south China's Guangxi Zhuang Autonomous Region, March 26, 2022. When asked to comment on the report, a Boeing spokesperson referred BI to the Civil Aviation Administration of China.

Persons: —, MU5735, Lu Boan Organizations: Service, Boeing, Civil Aviation Administration, China Eastern Airlines, Business, Staff, Street, Bloomberg, Getty Images, Civil Aviation Administration of China Locations: China, Guangxi Zhuang, Teng County, Tengxian County, Guangxi Zhuang Autonomous Region, Xinhua, Kunming, Guangzhou, Weibo

☆ Major companies in China are setting up their own volunteer armies
▼ + stars: | 2024-02-21 | by ( Laura He | ) edition.cnn.com time to read: +12 min

Hong Kong CNN —Chinese companies are doing something rarely seen since the 1970s: setting up their own volunteer armies. According to China’s Military Service Law, male militia members should be 18 to 35 years old. It was latest in a slew of militias established by major Chinese companies in the past year. After 1949, when the party took control of mainland China, the units were eventually embedded into governments, schools and companies. This can, in the long run, save the PLA resources by delegating some duties to militia forces to care for,” Heath said.

Persons: Xi, ”, Neil Thomas, Nuo Nuo, Huang Zhiqiang, Qilai Shen, Liu Jie, Mao Zedong, Mao, Timothy Heath, homebuyers, Heath, ” Heath, Willy Lam, Sam Yeh, ” Lam, China’s Organizations: Hong Kong CNN, CNN, People’s Armed Forces Departments, America’s National Guard, Communist, Asia Society, Center for, Communist Party, China Labour Bulletin, Foxconn, Yili, Armed Forces Department, China’s Military Service Law, People’s Liberation Army, PLA, government’s Communist Party, Inner Mongolia Autonomous, Bloomberg, Getty, Shanghai Municipal Investment Group, Construction Investment, Development, Defense Ministry, People’s Armed Police, Armed, Rand Corporation, Jamestown Foundation, Party, Taiwan Locations: China, Hong Kong, Center for China, Beijing, Zhengzhou, Henan, Hohhot, Inner Mongolia, Yili, Shanghai, Mengniu, Nantong city, Jiangsu, Huizhou city, Guangdong, Wuhan, Hubei province, People’s Republic, United States, Taiwan, Fangchenggang City, Guangxi, ”, PLA, Taiwan's, AFP

☆ China is stepping up to save its economy this year, but the data just doesn't seem to be getting much better
▼ + stars: | 2024-02-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

In January, authorities pulled about a dozen moves to stabilize a stock market rout and to support the property sector. But China's economic data isn't encouraging, and investor confidence is still low. Investors are cautiousThe moves gave some support to Chinese markets, but investors are still cautious. China's economic data hasn't been rosy either. Consumer appetite for property is still lowStill, overall consumer appetite for the property market appears to be in the dumps.

Persons: —, Hao Hong, Premier Li Qiang, Hong, Min Lan Tan, Tan Organizations: Service, Bloomberg, Grow Investment, Premier, Reuters, Investors, CSI, Securities Times, Estate Information Corp, Asia Pacific, UBS, Nikkei Locations: China, Beijing, Shanghai, Shenzhen, Guangzhou, Suzhou, Guangxi, Nikkei Asia

☆ China rolls out fresh property relief measures to stem the fallout from Evergrande's meltdown
▼ + stars: | 2024-01-31 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Officials in China are boosting property sector relief measures to blunt the impact of Evergrande's collapse. The new measures are part of a wider series of economy-boosting initiatives, especially in the real estate sector, which constitutes one-quarter of the country's economy. The crisis in the property sector stems from huge debt and overbuilding in the last decade, which has resulted in a liquidity crisis for many property developers, including Evergrande. The company's troubles sent country's property sector into a tailspin starting in 2022 when it defaulted on some of its offshore bonds. China is moving mountains to hold the real estate sector's crisis from pouring into other sectors.

Persons: — Organizations: Service, Beijing, China's Ministry of Housing, China Mingsheng Banking Corp, China Securities Journal, Guangzhou, Reuters, Bloomberg Locations: China, Hong Kong, Nanning, Guangxi, Chongqing, Suzhou, Shanghai, restructurings

☆ Heavy Fog Suspends Shipping at Chinese Ports; Shanghai Issues Heightened Advisory
▼ + stars: | 2024-01-30 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

BEIJING (Reuters) - Heavy fog has suspended the operation of ships travelling through the Qiongzhou Strait off the coast of China's Guangdong province and several cities, including Shanghai, have issued warning advisories, Chinese state media reported on Wednesday. China has a three-tier colour-coded warning system for thick fog, with red being the most serious, followed by orange and yellow. CCTV also reported that more than 100 airports across the country issued haze and snow warnings. Heavy snow is also affecting several provinces, including Henan and Hubei, forcing the closure of several roads, CCTV reported. Chinese weather forecasters have warned that snow and freezing rain over the next several days is expected to hamper transportation for millions of Chinese as they travel across the country for the Chinese New Year.

Persons: Bernard Orr, Stephen Coates Organizations: Shanghai Central Meteorological Locations: BEIJING, Qiongzhou, China's Guangdong, Shanghai, Port, Guangxi, China, Henan, Hubei

☆ NASA’s plans to return to moon take a hit
▼ + stars: | 2024-01-13 | by ( Katie Hunt | ) edition.cnn.com time to read: +7 min

CNN —Humans landed on the moon during NASA’s Apollo program in the late 1960s and 1970s using computers that had far less processing power than today’s smartphones. Several projects are expected to head toward the moon this year with sights set on a soft landing. ExplorationsAstrobotic Technology shared the first image of the Peregrine lunar lander in space on Monday. Once upon a planetThe oldest known fossilized skin is at least 130 million years more ancient than the previously oldest known example. The world’s oldest known fossilized skin belonged to a species of reptile that lived before dinosaurs roamed Earth.

Persons: Russia’s Luna, United States — hasn’t, Peregrine, NASA —, Zhang, King, G.H.R, von Koenigswald, Mooney, Charles Darwin, Ashley Strickland, Katie Hunt Organizations: CNN, United, Astrobotic Technology, Technology, NASA, United Launch Alliance, Payload Services, University of Toronto Mississauga, European Space Agency, CNN Space, Science Locations: India, United States, Pittsburgh, Guangxi, King Kong, Hong Kong, Oklahoma, China, Norway, British, New Mexico

☆ Giant ape’s extinction solved by new fossil analysis
▼ + stars: | 2024-01-10 | by ( Katie Hunt | ) edition.cnn.com time to read: +6 min

Many of the caves containing Gigantopithecus fossils have been found in Guangxi's distinctive karst landscape. “The early caves at 2 million years old have hundreds of teeth, but the younger caves around the extinction period — there are only 3-4 … teeth,” Westaway said. Isotope analysis of elements such as carbon and oxygen contained in the Gigantopithecus teeth helped the researchers understand how the animal’s diet may have changed over time. Kira Westaway/Macquarie UniversityQuestions remainNo Gigantopithecus fossils from the neck down have ever been found and documented. A November 2019 analysis of proteins found in a Gigantopithecus fossil suggested its closest living relative is the Bornean orangutan.

Persons: King Kong ” —, G.H.R, von Koenigswald, Gigantopithecus, “, ”, Renaud Joannes, Boyau, Yingqi Zhang, Kira Westaway, We’ve, Westaway, Zhang, ” Westaway, Feng Cave, It’s, Wang Wei, Wang Organizations: CNN, colossus, Southern Cross University, Macquarie University, Shandong University’s Institute of Cultural Heritage Locations: Hong Kong, China, Australia, Guangxi, Vietnam, Asia, Shandong, Qingdao, Indonesia, what’s, Bose

☆ Chinese hot pot chain Haidilao puts viral dance on menu
▼ + stars: | 2023-12-01 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —What is better than a warming meal of hot pot? A catchy dance routine to go with the Chinese cuisine, according to hot pot chain Haidilao. Haidilao, China’s largest hot pot chain, has recently offered a new dance performance as part of the dining experience across its 1,400 branches. It all started with a comment on a local Chinese online forum. And since hot pot is considered a communal experience, the restaurants sometimes offer plush toys as companions for solo diners.

Persons: ”, “, Haidilao, ” Haidilao Organizations: Hong Kong CNN, Jimu, CNN, Staff Locations: Hong Kong, Guangxi, Weibo, Britain

☆ 1,000 cats rescued in China from being slaughtered and sold as pork, mutton
▼ + stars: | 2023-10-24 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Police in China have rescued some 1,000 cats from a truck en route to a slaughterhouse, state-affiliated media has reported, busting part of an illicit trade that fraudulently sells feline meat as pork or mutton and sparking fresh food safety concerns. The report did not mention whether any arrests had been made, nor whether the cats were strays or pets. CNN has reached out to the Zhangjiagang police and the animal shelter for comment. Images published by The Paper showed rescued cats at the shelter resting in larger cages. Animal rights and environment groups have long campaigned against the use of animal parts – including from many endangered species – for traditional medicine.

Persons: Gong Jian, Han Jiali Organizations: Hong Kong CNN — Police, Police, CNN, Local, corgi Locations: Hong Kong, China, Zhangjiagang, Jiangsu, Guangdong, Chinese, Yulin, Guangxi

☆ Exclusive: China tells banks to roll over local government debts as risks mount - sources
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +6 min

Local government debt reached 92 trillion yuan ($12.58 trillion), or 76% of the country's economic output in 2022, up from 62.2% in 2019. Reuters is reporting these measures for banks to defuse local debt risks for the first time. Banks are being encouraged to issue new loans to LGFVs to repay bonds and non-standard debt, the sources said. And, Chinese investors are rushing to buy bonds of LGFVs, including from the riskiest issuers, as Beijing's attempts to reduce local debt risks encourages them to bet on an implicit government guarantee. Over 2.1 trillion yuan LGFV bonds matured in the first half of 2023, and another 1.75 trillion yuan in the second half of this year and 1.69 trillion yuan in the first half of 2024, the highest maturity pressure in history, the note said.

Persons: Tyrone Siu, ”, National Financial Regulatory Administration didn't, Banks, CLIFF LGFVs, LGFVs, Simon Cameron, Moore, Kim Coghill Organizations: AIA Central, China Construction Bank, Bank of China, Cheung, Cheung Kong Centre, HSBC, Standard Chartered Bank, REUTERS, Rights, People's Bank of China, Reuters, Treasury, National Financial Regulatory Administration, Communist Party, ANZ Research, UBS, Financial, Beijing, Shanghai, Thomson Locations: Cheung Kong, Hong Kong, China, Rights BEIJING, Beijing, Tianjin, Guizhou, Guangxi

☆ Unrelenting rain causes more than 100 landslides, traps residents in floodwaters in southern China
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

Typhoon Haikui hit southern China eight days ago and has since been downgraded to a tropical storm, but unrelenting rain continues to deluge southwestern Guangxi. Rescuers were seen treading thigh-deep in waterlogged areas evacuating residents in boats. China Meteorological Administration forecast heavy rains in the south and southeast parts of Guangxi on Tuesday and Wednesday, with storms in the southwest. The national forecaster also warned relevant departments and people in Guangdong and Guangxi to be alert to any delayed effects of disasters from frequent rainfall in recent days. Reporting by Liz Lee and Shanghai newsroom; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Haikui, Liz Lee, Michael Perry Organizations: cnsphoto, REUTERS Acquire, Rights, China Meteorological Administration, Thomson Locations: Shankou, Hepu county, Beihai, Guangxi Zhuang Autonomous Region, China, Rights BEIJING, China's, Guangxi, Yulin, Fujian, Shenzhen, Hong Kong, Guangdong, Shanghai

☆ Rains from dying typhoon batter China for seventh day
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Sept 11 (Reuters) - Heavy rains from a typhoon kept southern China drenched for the seventh day as slow-moving storm clouds drifted from Guangdong on the coast to Guangxi, flooding low-lying areas, blocking roads and trapping residents. Heavy rain is expected to persist in Guangxi over the next few days. Neighbouring Hong Kong was pelted by the worst storm in 140 years. "Typhoons that move far inland affect regions historically less exposed to heavy rainfall and strong wind, often with lower disaster resilience, leading to more severe losses," said Shao Sun, a climatologist at the University of California, Irvine. Reporting by Ryan Woo; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Haikui, Shao Sun, Ryan Woo, Michael Perry Organizations: Typhoons, University of California, Thomson Locations: BEIJING, China, Guangdong, Guangxi, Bobai, Fujian, Shenzhen deluged, Hong Kong, Shenzhen, Irvine

☆ South China soaks as rains from Haikui continue to pound region
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] An aerial view shows flooded villages in Minhou county after heavy rains brought by typhoon Haikui, in Fuzhou, Fujian province, China September 5, 2023. cnsphoto via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. Acquire Licensing RightsBEIJING, Sept 7 (Reuters) - The remnants of Typhoon Haikui drenched China for a third day since making landfall, as moisture-laden clouds dumped rain onto the country's south despite weakening cyclonic winds. Later this week, the storms are expected to continue in Guangxi bringing the southwestern region extreme rainfall on Friday and Saturday before potentially dissipating on Sunday. Haikui's storms flooded parts of southeastern Fujian province where it landed early on Tuesday, forcing 294,100 people to evacuate, inundated 9,949.7 hectares (24,586.24 acres) of crops and damaged nearly 2,540 homes. Intense rains in the city of Fuzhou shattered 12-year-old rainfall records, surpassing the amount brought by Typhoon Doksuri late July.

Persons: Typhoon Doksuri, Liz Lee, Christian Schmollinger Organizations: cnsphoto, Rights, China Meteorological Administration, Authorities, Thomson Locations: Minhou county, Fuzhou, Fujian province, China, CHINA, Rights BEIJING, downpours, Guangdong, Tangxi, Jiangxi, Hunan province, Guangxi, Hainan, Guilin, Laibin, Fujian, Xiamen, Shanghai

China generated 121 billion kilowatt-hours (kWh) from hydro in July 2023, down from 146 billion kWh in the same month a year earlier, and the lowest since 2015. China also boosted generation from wind farms (+16 billion kWh) and solar farms (+5 billion kWh) compared with July 2022. But without the extra generation from thermal (+44 billion kWh) it could not have offset the drop in hydro (-25 billion kWh) while meeting growth in load (+40 billion kWh). SOUTH CHINA DROUGHTFour-fifths of China’s total hydro generation comes from provinces along the Yangtze River system and further south. Facing continued restrictions on hydro generation, coal-fired generation, coal production and coal imports will have to rise even further.

Persons: Doksuri, John Kemp, Bernadette Baum Organizations: REUTERS, National Bureau of Statistics, East, Thomson, Reuters Locations: Qiaojia, Yunnan province, Ningnan, Sichuan province, China, Hebei, Beijing, Chartbook, CHINA, Sichuan, Yunnan, Hubei, Guizhou, Guangxi, Hunan, Fujian, Guangdong, Chongqing, Yibin

☆ Factbox: China's incumbent and upcoming LNG traders
▼ + stars: | 2023-08-21 | by ( Chen Aizhu | ) www.reuters.com time to read: +5 min

A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan November 13, 2017. Below is a list of China's main gas traders and their operations globally, according to information from company sources and traders. In May, PCI became the first Chinese firm to gain long-term access to gas storage at a European gas terminal. CNOOC also plans to create a London desk in the coming year or two, following PCI and Unipec. Sumitomo Corp (8053.T), which has a desk to trade piped gas in London is considering expanding into LNG trading, said a company spokesperson.

Persons: Issei Kato, Keith Martin, Wang Bingsi, CNOOC, Norinco, ENN, Chen Aizhu, Yuka Obayashi, Florence Tan, Tom Hogue Organizations: REUTERS, Rights, PetroChina International, PCI, London, Gazprom, China National Offshore Oil Company, Gas Co, ENN, LNG, Beijing Gas, Zhejiang Energy, Zhejiang Energy Zhejiang Energy, Exxon Mobil, Mexico, China Gas Holding, China Gas, JOVO Energy, Privately, SOUTH, Mitsubishi Corp, Marubeni Corp, Tokyo Gas, Korea's SK E, Sumitomo Corp, Thomson Locations: Futtsu, Tokyo, Japan, London, Singapore, Beijing, Dubai, Houston, Sinopec, China, Jiangsu province, ENN, U.S, Hebei, Shenzhen, CNOOC, Zhejiang Energy Zhejiang, Zhejiang, Ningbo, Wenzhou, Zhejiang province, HK, Guangxi province, Yantai, Shandong province, Guangdong, Guangzhou, JAPAN, SOUTH KOREA, Asia

☆ Floods, mudslides kill two in northwestern China city
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: +2 min

The Qinling Mountains in Xian will continue to experience extreme weather conditions, which will lead to soil erosion and possibly further mudslides, the broadcaster said. A man holding a child walks across a damaged bridge after the rains and floods brought by remnants of Typhoon Doksuri, in Zhuozhou, Hebei province, China August 7, 2023. In southwestern Guangxi on Friday, heavy rainfall in the city of Nanning led to urban flooding, forcing rush hour commuters to drive vehicles and motorcycles through waterlogged roads, CCTV said. Local authorities set up cordons to allow drainage work on some roads, while the city dispatched nearly 3,900 police to help. In Huozhou city in the northern province of Shanxi, some low-lying houses faced stagnant water breaches, as floods from heavy rain trapped some residents in their buildings, the broadcaster said.

Persons: Xian, Doksuri, Tingshu Wang, Engen Tham, Miral Organizations: China Central Television, REUTERS, Local, Xinhua News Agency, Thomson Locations: Nanning, Beijing, Harbin SHANGHAI, China, Fujian, Xian, Zhuozhou, Hebei province, Harbin, Guangxi, Jilin, Huozhou, Shanxi, Mongolia

☆ Exclusive: China's Nanfang to open major copper smelter ahead of expectations
▼ + stars: | 2023-08-10 | by ( Julian Luk | ) www.reuters.com time to read: +3 min

The 400,000 metric ton-per-year smelter, located in Chongzuo city of Guangxi prefecture, will start processing copper concentrates within three months - compared with market expectations for the first half of 2024. "It came as a surprise," one major copper concentrates supplier said, adding that Nanfang had been buying more raw copper materials on the spot market over the past two weeks. Purchasing copper concentrates requires access to liquidity and cash, particularly given relatively high copper prices around $8,400 a metric ton. "It is easier to finance copper projects, credit lines are sufficient to kick-start the second smelting line. Rising domestic copper smelting capacity in China will mean growing demand for copper concentrates and less appetite for buying refined copper from foreign companies.

Persons: Nanfang Nonferrous, Nanfang, COVID, Tongling, Julian Luk, Pratima Desai, Veronica Brown, David Evans Organizations: Reuters, Thomson Locations: China, Chongzuo, Guangxi prefecture

☆ China's July economic losses from disasters exceed January-June
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: +2 min

August, when rainfall usually peaks and summer temperatures soar, is set for further economic impact from floods and heatwaves. Rainfall in northeastern provinces could be as much as 50% higher than normal in August, China's national forecaster have warned. In the northern province of Hebei, over 1.2 million people had been evacuated as of Wednesday due to flooding caused by residual rains from Doksuri. China's top economic planner on Friday earmarked an additional 100 million yuan to support post-disaster recovery in Tianjin and Hebei on top of the 100 million yuan announced on Wednesday for Beijing and Hebei. The finance and water resources ministries separately on Friday also offered 450 million yuan to support the overall recovery effort.

Persons: Talim, Ryan Woo, William Mallard Organizations: cnsphoto, REUTERS, Ministry of Emergency Management, Thomson Locations: Beihai, Guangxi Zhuang Autonomous Region, China, BEIJING, Beijing, Hebei, Doksuri, Tianjin

☆ Typhoon Talim forecast to hit southern China late Monday
▼ + stars: | 2023-07-17 | by ( Liz Lee | ) www.reuters.com time to read: +3 min

China Meteorological Administration issued an orange alert, saying the typhoon was expected to increase in intensity to become a severe typhoon by the time it makes landfall at night along the southern coast from Guangdong to Hainan. China has a four-tier colour-coded weather warning system under which orange is the second highest alert. Talim is set to be the fourth typhoon this year but the first to make landfall in China, according to weather predictions. The national forecaster urged authorities in Guangdong and Hainan to be on standby to respond to the typhoon. Chinese national weather forecaster said rainfall in several cities in the southeastern Fujian and eastern Jiangsu provinces reached 200-300mm (7.87-11.81 inches) within three hours early Monday morning.

Persons: Talim, Liz Lee, Jessie Pang, Lincoln, Himani Organizations: China Meteorological Administration, Authorities, Sunday, Zhuhai Jinwan Airport, Meilan, Qionghai Boao, Beijing, Thomson Locations: BEIJING, China, Guangdong, Hainan, Zhanjiang City, Hong Kong, Guangxi, Xinhua, Zhuhai, Hainan's, Haikou, Qionghai, Fujian, Jiangsu

Metal has been arriving almost daily in response to a sharp squeeze across the front part of the LME tin curve. LME and ShFE tin stocksLME SQUEEZE, BUT NO PHYSICAL TIGHTNESSThe tightness on the LME tin contract does not seem to have reflected any shortage of tin in the physical market. The LME squeeze appears to have been more a clash of positioning in what can at times be a relatively illiquid market. Fund positioning on the LME tin contractSUPPLY DISRUPTION LOOMSWhile tin supply has recovered from early-year disruption in Indonesia and Peru, a new threat is now looming. From the start of next month, all tin mining will be suspended in the Wa region of Myanmar.

Persons: It's, Jan Harvey Organizations: London Metal Exchange, Shanghai Futures Exchange, U.S, Fastmarkets, Fund, United Wa State Army, International Tin Association, Yinman, Yunnan Tin Company, Reuters, Thomson Locations: Myanmar, Malaysia's Port Klang, Singapore, Rotterdam, Antwerp, Italian, Genoa, Trieste, Spanish, Bilbao, Baltimore, U.S, Midwest, COVID, Indonesia, Peru, Wa, Guangxi, Mongolia, Yunnan, China

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