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Lay-offs at Hong Kong TV station stoke concerns over media freedom
  + stars: | 2020-12-01 | by ( Reuters Staff | ) sentiment -1.00   time to read: +2 min
HONG KONG (Reuters) - A Hong Kong television station said on Tuesday about 100 staff were “affected” by a shake-up as it seeks to control costs and remain competitive in a challenging economic environment, a move that has re-ignited worries over media freedom in the city. Local media said 40 workers had been laid off from i-Cable, including the entire team from the station’s award-winning investigative section News Lancet. “Under this circumstance, after a comprehensive review, it was unavoidable for the group to carry out an organizational restructure of various departments.”The pay TV station did not say how many had been sacked. i-Cable journalists told Reuters the lay-offs had prompted the heads of the station’s China News, Hong Kong General News, Finance News and Editing desk to resign. There aren’t many TV investigative news programmes in Hong Kong,” Yau said.
Persons: Wong Lai, Yau Ting, leung, “ It’s, ” Yau, ” HKJA, David Chiu Organizations: Reuters, , China News, Cable, China, Hong, Hong Kong General News, Finance, Hong Kong Journalists ’ Association, Cable News, Far, Consortium Locations: HONG KONG, Hong Kong, Wuhan province, Beijing
China urges U.S. to correct mistake on Venezuela-related sanctions
  + stars: | 2020-12-01 | by ( Reuters Staff | ) sentiment -0.65   time to read: 1 min
BEIJING (Reuters) - China urged the United States on Tuesday to correct its mistake and lift all illegal sanctions, after Washington imposed Venezuela-related sanctions targeting a Chinese firm. China supports Venezuelan efforts to defend its sovereignty and is opposed to abusing international sanctions, foreign ministry spokeswoman Hua Chunying told a regular briefing. China will take necessary measures to safeguard companies rights and interests, Hua said. The United States imposed sanctions on Monday on Chinese firm China National Electronics Import & Export Corporation (CEIEC), accusing it of supporting Venezuelan President Nicolas Maduro’s efforts to undermine democracy.
Persons: Hua Chunying, Hua, Nicolas Maduro’s Organizations: China National Electronics Import & Export Corporation Locations: BEIJING, China, United States, Washington, Venezuela
China says ready to talk to NATO, urges correct outlook
  + stars: | 2020-12-01 | by ( Reuters Staff | ) + 0.72   time to read: 1 min
FILE PHOTO: Chinese Foreign Ministry spokeswoman Hua Chunying attends a news conference in Beijing, China October 9, 2020. REUTERS/Thomas SuenBEIJING (Reuters) - China hopes NATO will adopt the correct outlook toward the country and stands ready to engage in dialogue with the group, foreign ministry spokeswoman Hua Chunying said during a regular briefing on Tuesday. NATO is formally known as the North Atlantic Treaty Organization.
Persons: Hua Chunying, Thomas Suen BEIJING Organizations: Foreign Ministry, REUTERS, NATO, Atlantic Treaty Organization Locations: Beijing, China
Chinese embassy says Australia 'misread' offending social media post
  + stars: | 2020-12-01 | by ( Kirsty Needham | ) sentiment -1.00   time to read: +2 min
FILE PHOTO: Chinese Foreign Ministry spokesman Zhao Lijian attends a news conference in Beijing, China September 10, 2020. REUTERS/Carlos Garcia RawlinsAustralia’s Prime Minister Scott Morrison on Monday called the tweet posted by China’s foreign ministry spokesman, Zhao Lijian, “truly repugnant”, and called for an apology. On Tuesday the tweet was pinned to the top of Zhao’s social media account, and China’s Global Times newspaper, known for nationalistic views, interviewed the Chinese artist who created the image. Australia was seeking to “stoke domestic nationalism”, and “deflect public attention from the horrible atrocities by certain Australian soldiers”, it said. Australia has said there looks to be a pattern of Chinese trade sanctions against Australian products this year, linked to Beijing’s diplomatic grievances over Australia’s national security, human rights and foreign policy decisions.
Persons: Zhao Lijian, Carlos Garcia Rawlins, Scott Morrison, Monday, , overreaction, Mr Zhao’s, Cheng Jingye, Cheng, Jacinda Ardern, Morrison, Ashraf Ghani Organizations: SYDNEY, Foreign Ministry, REUTERS, Carlos Garcia Rawlins Australia’s, China’s Global Times, Australia’s Foreign Affairs, Trade, stoke, Zealand’s Locations: Australia, stoke, Beijing, China, Canberra, Zealand, Afghanistan
FILE PHOTO: A general view shows the headquarters of Anbang Insurance Group in Beijing, China, February 23, 2018. REUTERS/Thomas PeterSEOUL (Reuters) - South Korean investment bank Mirae Asset Daewoo Co Ltd said on Tuesday it won a U.S. court case against Anbang Insurance Group, after Mirae Asset affiliates scrapped a $5.8 billion deal to buy 15 U.S. hotels from Anbang. Anbang had filed a suit saying Mirae Asset affiliates must fulfill their promised payment for the hotels, while Mirae affiliates filed a counterclaim that Anbang return the deposit, pay transaction costs, and related litigation costs, Mirae said in a regulatory filing on Tuesday. Anbang has been liquidated and some of its assets have been revamped into a new entity called Dajia Insurance Group. Shares in Mirae Asset rose 6% in Seoul on Tuesday.
Persons: Thomas Peter SEOUL, Mirae, Anbang, Anbang’s Organizations: Anbang Insurance Group, REUTERS, Mirae, Daewoo Co, Anbang Insurance, Reuters, Dajia Insurance Locations: Beijing, China, U.S, Anbang, Delaware, Seoul
SEOUL (Reuters) - China has provided North Korean leader Kim Jong Un and his family with an experimental coronavirus vaccine, a U.S. analyst said on Tuesday, citing two unidentified Japanese intelligence sources. KCNA/via REUTERSHarry Kazianis, a North Korea expert at the Center for the National Interest think tank in Washington, said the Kims and several senior North Korean officials had been vaccinated. Citing U.S. medical scientist Peter J. Hotez, he said at least three Chinese companies were developing a coronavirus vaccine, including Sinovac Biotech Ltd, CanSinoBio and Sinophram Group. Microsoft said last month that two North Korean hacking groups had tried to break into the network of vaccine developers in multiple countries, without specifying the companies targeted. The NIS said last week it had foiled North Korea’s attempts to hack into South Korean COVID-19 vaccine makers.
Persons: Kim Jong Un, REUTERS Harry Kazianis, “ Kim Jong Un, Kim, ” Kazianis, Peter J, Hotez, Sinophram, , Choi Jung, Mark Barry, ” Barry Organizations: Political, 7th Central Committee of, Workers ' Party of Korea, North Korea's Central News Agency, REUTERS, Center, North, Sinovac Biotech, CanSinoBio, Sinophram, Twitter, Korea’s National Intelligence Service, Microsoft, Reuters, AstraZeneca, NIS Locations: SEOUL, China, U.S, North Korea, Washington, East Asia, Beijing, Korea, Korean, British
TOKYO (Reuters) - Asian factories continued to recover steadily in November thanks to a boom in economic powerhouse China, private surveys showed on Tuesday, offering hope the region was shaking off the drag from the COVID-19 crisis. A worker is seen during a government-organized tour of the Mengniu Dairy factory in Beijing, China, February 27, 2020. China’s factory activity accelerated at the fastest pace in a decade in November, a private survey showed on Tuesday, a sign the world’s second-largest economy is recovering to pre-pandemic levels. A steady recovery in global demand also helped Japan’s factory activity move a notch closer to stabilisation in November, and that of South Korea to accelerate at the fastest pace in nearly a decade. Factory activity also grew in Taiwan and Indonesia, a sign the pick-up in Chinese demand was underpinning the region’s economy.
Persons: Thomas Peter, , Wang Zhe, China’s, Takeshi Minami Organizations: REUTERS, , Caixin Insight, Jibun Bank, Jibun Bank Japan Manufacturing PMI, IHS, PMI, Norinchukin Research Locations: TOKYO, China, Beijing, South Korea, Jibun Bank Japan, Taiwan, Indonesia
TOKYO (Reuters) - Asian factories recovered further in November from the COVID-19 crisis, surveys showed on Tuesday, thanks to a boom in economic powerhouse China which has enabled the region to withstand the pandemic better than many of its peers. It was also in line with an official survey that showed activity at Chinese factories expanded at the fastest pace in more than three years in November. PATCHY RECOVERYThe surveys on Tuesday showed factory activity also grew in Taiwan and Indonesia, a sign the pick-up in Chinese demand was underpinning the region’s economy. The final au Jibun Bank Japan Manufacturing PMI hit 49.0 in November, up from the previous month’s 48.7 and a preliminary 48.3 reading. But India’s manufacturing recovery faltered in November as coronavirus fears weighed on demand and output, prompting firms to cut jobs for the eighth month in a row.
Persons: Thomas Peter, China’s, , Takeshi Minami Organizations: SMC, REUTERS, PMI, , Economics, International Monetary, Jibun Bank, Jibun Bank Japan Manufacturing PMI, IHS, Norinchukin Research, Locations: TOKYO, China, Beijing, U.S, Europe, South Korea, Taiwan, Indonesia, Jibun Bank Japan
LONDON/TOKYO (Reuters) - Euro zone factory growth cooled last month as renewed coronavirus lockdown measures hurt demand, leaving the bloc lagging many Asian peers who recovered further from the COVID-19 crisis, surveys showed on Tuesday. Factories across Europe reduced headcount again although German unemployment fell unexpectedly in November and optimism improved amid progress in developing COVID-19 vaccines. Japan’s manufacturing PMI rose and South Korea’s PMI scored its highest reading since February 2011, marking the second month of activity expansion. Factory activity also grew in Taiwan and Indonesia, a sign the pick-up in Chinese demand was underpinning the region’s economy. But India’s manufacturing recovery faltered as coronavirus fears weighed on demand and output, prompting firms to cut jobs for the eighth month in a row.
Persons: Thomas Peter, Christine Lagarde, , Peter Dixon, headcount, Samuel Tombs, China’s Caixin, , Asia’s outperformance Organizations: SMC, REUTERS, European Central Bank, IHS, October’s, EU, Macroeconomics, CHINA, , PMI Locations: TOKYO, Beijing, China, Germany, Asia, Commerzbank, Europe, COVID, Britain, EU, U.S, United States, Taiwan, Indonesia
BEIJING (Reuters) - Activity in China’s factory sector accelerated at the fastest pace in a decade in November, a business survey showed on Tuesday, as the world’s second-largest economy recovers to pre-pandemic levels. FILE PHOTO: An employee works at a production line manufacturing optical fiber cables at a factory of the Zhejiang Headway Communication Equipment Co in Huzhou, Zhejiang province, China May 15, 2019. The Caixin PMI reading was the highest since November 2010, and comes after an official gauge of factory activity, focusing more on larger and state-owned firms, rose at the fastest pace in over three years. E-commerce shopping promotions in November showed strong consumer demand, bolstering confidence for small and medium-sized firms. The private sector survey also showed Chinese factories hired workers for the third month in a row and at a faster pace.
Persons: Stringer, ” Wang Zhe, , Wang Organizations: REUTERS, Reuters, PMI, , Caixin Insight, Employment Locations: BEIJING, China’s, Zhejiang, Huzhou, Zhejiang province, China
New Zealand raises concerns with China over Australian soldier image
  + stars: | 2020-12-01 | by ( Praveen Menon | ) sentiment -0.97   time to read: +2 min
WELLINGTON (Reuters) - New Zealand’s prime minister, Jacinda Ardern, said on Tuesday that her government has raised concerns with China about its using an image of an Australian soldier holding a knife to the throat of an Afghan child. “New Zealand has registered directly with Chinese authorities our concern over the use of that image,” Ardern told reporters in the parliament in the capital Wellington. New Zealand has a shared history, close cultural ties, geographic proximity and a strong economic relation with Australia. New Zealand will host the Asia-Pacific Economic Cooperation (APEC) next year, taking over from Malaysia, where the global event was held this year. Australia’s relationship with China has deteriorated since Canberra called for an international inquiry into the origins of the coronavirus pandemic.
Persons: Jacinda Ardern, ” Ardern Organizations: WELLINGTON, Reuters, Twitter, World Health Organization, WHO, Economic Cooperation Locations: China, Australia, Beijing, , Zealand, Wellington, New Zealand, Britain, Canada, United States, Hong Kong, Beijing . New Zealand, Asia, Malaysia, Canberra
Last month, U.S. President Donald Trump issued an executive order prohibiting U.S. investments into a list of Chinese companies that Washington said were owned or controlled by the Chinese military. Many of the Chinese firms on the list are central to China's Belt and Road (BRI) initiative, according to U.K.-based research firm TS Lombard in a note last week. TS Lombard said that among the Chinese companies that were blacklisted, American investors have the highest direct exposure to China Communications Construction Company, China State Construction Group, China Railway Construction Corporation, and China Telecommunications. Investors are also waiting for more clarity on how the U.S. executive order would apply to listed subsidiaries of state-owned Chinese companies under the blacklist, the research firm noted. That means private Chinese companies are "co-opted into the strengthening" of the People's Liberation Army (PLA), the country's armed forces.
Persons: Fu Tian, Donald Trump, Trump, CNOOC, SMIC, TS Lombard, Lombard, Blacklists, Biden, Joe Biden, William Reinsch Organizations: People's Liberation Army, China News Service, Visual China, Getty, SINGAPORE —, Lombard, Reuters, CNOOC, China Communications Construction Company, Construction Group, China Railway Construction Corporation, China Telecommunications, Huawei, PLA, U.S, for Strategic, International Studies Locations: People's Republic of China, Tiananmen, Beijing, China, Washington, U.S, China's, Central Asia, Africa, Europe
The U.S. and China remain locked in a wrestle for power, and it's worrying that they're not working to engage and collaborate with each other, energy expert Dan Yergin told CNBC. Yergin said bringing stability to the U.S.-China relationship is the "biggest geopolitical issue" that President-elect Joe Biden will have to face. Oil demand outlookSeparately, Yergin discussed the outlook for the oil market as OPEC+ considers an extension to output curbs. "That's what's at the heart of the battle that's going on right now with OPEC and non-OPEC." Dan Yergin Vice Chairman, IHS Markit
Persons: Dan Yergin, Donald Trump, CNBC's, Andrew Harrer, Trump, Yergin, Joe Biden Organizations: U.S, CNBC, Reuters, IHS, Bloomberg, Getty, Biden, U.S ., OPEC Locations: China, Washington ,, U.S, Beijing, Washington
The episode triggered anger on South Korean social media. “Its total nonsense, what a thief stealing our culture!” a South Korean netizen wrote on, a widely popular web portal. “I read a media story that China now says Kimchi is theirs, and that they are making international standard for it, It’s absurd. South Korea’s agriculture ministry on Sunday released a statement saying mainly that the ISO approved standard does not apply to Kimchi. “It is inappropriate to report (about Pao Cai winning the ISO) without differentiating Kimchi from Pao Cai of China’s Sichuan,” the statement said.
Persons: Pao Cai, Korean netizen, I’m, , Kim Seol, China’s Organizations: International Organization for Standardization, Global, Twitter, Weibo, Sunday Locations: SEOUL, Sichuan, Korean, Beijing, China, , Seoul, Weibo, South Korea, South
WASHINGTON (Reuters) - The United States imposed sanctions on Monday on Chinese firm China National Electronics Import & Export Corporation (CEIEC), accusing it of supporting Venezuelan President Nicolas Maduro’s efforts to undermine democracy. Those using broadband services provided by state-run telecommunications provider Venezuelan National Telephone Company (CANTV) are generally the most affected, but users of private services also face restrictions. Maduro remains in power, backed by Venezuela’s military as well as Russia, China and Cuba. Monday’s action freezes any U.S. assets of the Chinese firm and generally bars Americans from dealing with it. The Treasury also issued a license authorizing the “wind down” of transactions with the Chinese company until Jan. 14.
Persons: Nicolas Maduro’s, Steven T, Mnuchin, Toni L, Sandys, , Steven Mnuchin, ” CEIEC, Hua Chunying, Juan Guaido, CEIEC, Guaido Organizations: WASHINGTON, China National Electronics Import & Export Corporation, of, Treasury, Banking, Housing, Urban Affairs, . Treasury Department, Ministry, Venezuelan National Telephone Company Locations: United States, China, Washington , DC, Maduro, Beijing, . Washington, Venezuelan, Russia, Cuba
China banking regulator says property market is biggest 'grey rhino'
  + stars: | 2020-11-30 | by ( Reuters Staff | ) sentiment -0.54   time to read: +1 min
BEIJING (Reuters) - China’s property market is the biggest “grey rhino” - a very obvious yet ignored threat - in terms of financial risks, given it is so deeply intertwined with the financial industry, the head of the country’s banking regulator said. Loans related to the property market currently account for 39% of total bank loans in China - to say nothing of a large amount of bonds, equities and trust investments with exposure to it, Guo said. “It’s safe to say that the property market is currently the greatest grey rhino in terms of financial risks,” he was quoted as saying. Guo also noted that modern technologies have brought and will continue to bring big changes to the financial industry, with digital currency, cybersecurity and information security emerging as key challenges for regulators. In response, Guo said the CBIRC would use innovative ways to regulate large technology firms to prevent risks and monopolies, while promoting their development, according to the report.
Persons: Guo Shuqing, Guo, Organizations: China Banking, Insurance, Commission, Shanghai Securities Locations: BEIJING, China
U.S. Blacklists Chinese Defense Firm for Sales to Venezuela
  + stars: | 2020-11-30 | by ( Ian Talley | ) sentiment -0.99   time to read: +1 min
WASHINGTON—The Trump administration on Monday blacklisted a major Chinese government-owned defense company it said sold goods to Venezuela that aided political repression by the regime of President Nicolás Maduro. The U.S. Treasury Department said goods sold by China National Electronics Import & Export Corp., or CEIEC, helped the Maduro government restrict internet service and conduct digital surveillance and cyber operations against political opponents. The sanctions precede a Dec. 6 parliamentary election in Venezuela that the U.S. says will be fraudulent. The Trump administration says the Maduro government fixed previous elections and maintains an illegitimate hold on power through repression of the political opposition. The U.S. views the Maduro government as a major security threat, citing its relationships with Iran, China, Russia and South American drug cartels.
Persons: WASHINGTON, Trump, Nicolás Maduro, Juan Guaído Organizations: U.S . Treasury Department, China National Electronics Import & Export Corp Locations: Venezuela, U.S, Washington, Beijing, Hong Kong, Taiwan, Iran, China, Russia, South American
HONG KONG (Reuters) - Prince Wong was still in her mother’s womb when the Chinese government reclaimed control over Hong Kong from the British in the summer of 1997. She was born nearly three months later, on September 27, into what some here call the city’s “cursed generation.”FILE PHOTO: U.S. President Bill Clinton talks with Hong Kong pro-democracy leader Martin Lee during a bilateral meeting in Hong Kong, China, July 3, 1998. His apartment looks over the hills of Hong Kong, forested with a mix of trees and skyscrapers. After the Hong Kong government postponed the elections for a year, the United States imposed unprecedented sanctions on Hong Kong and Chinese officials. “I may not be there to see democracy coming to Hong Kong or coming to China, but it will come one day.
Persons: Prince Wong, Bill Clinton, Martin Lee, Rick Wilking, Wong, , Carrie Lam, ” Wong, ” “, , , Martin, Lee, gaunt, Martin Luther King Jr, Mahatma Gandhi, Hong, don’t, “ They’ve, Finn Lau, laam, it’s, Lau, Joshua Wong, Lee Cheuk, ” Martin Lee, ” Lee, he’s, who’ve, Hong Kongers, ” Lee shrugs, Dave, , ” Dave, netizens, “ We’ve, Eli, ” Eli, ’ ”, , Eli finally, she’s, I’m, Yau Ma, Hong Kong’s wilder Organizations: Reuters, Hong, REUTERS, Hong Kong Polytechnic University, City, Government, Beijing, Chinese Communist Party, Poly, Polytechnic University, Liberation Army, Hong Kong Coliseum, Drainage Services Department, Kwun Yum, Lingnan University, ” Reuters Locations: HONG KONG, Hong Kong, China, Hong Kong’s, Beijing, Britain, , Beijing’s, United States, tamping, Hong, Victoria Harbour, Kowloon, Canada, Taiwan, Australia, Tibet, Xinjiang,
Measures of Chinese Economic Activity Signal Widening Recovery
  + stars: | 2020-11-30 | by ( Jonathan Cheng | ) + 0.99   time to read: +1 min
BEIJING—Gauges of China’s manufacturing and nonmanufacturing activity climbed to their highest levels in three and eight years, respectively, signaling a broadening recovery in the world’s second-largest economy nearly a year after the coronavirus began its spread. The official manufacturing purchasing managers index, a key measure of factory activity, rose to 52.1 in November from 51.4 in October, according to data released Monday by the National Bureau of Statistics. The reading is the highest since September 2017 and topped economists’ expectations for the index to edge up to 51.5 this month. Meanwhile, China’s nonmanufacturing PMI, which includes services and construction activity, rose in November to 56.4, its highest level since June 2012, from a previous reading of 56.2 in October, the statistics bureau said. China’s industrial sector has led the nation’s economic recovery since the second quarter of the year, and the official manufacturing PMI has remained above the 50 mark, which separates month-to-month activity expansion from contraction, since March.
Persons: , Zhu Chaoping Organizations: National Bureau of Statistics, PMI, Morgan Asset Management Locations: BEIJING, China’s, Shanghai
ZURICH/LONDON/MUMBAI (Reuters Breakingviews) - Corona Capital is a column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights. Bottles of Australian wine are seen at a store selling imported wine in Beijing, China November 27, 2020. LATEST- Swiss vote- ABN Amro- Australian wineSWISS MISS. Assume Chief Executive Robert Swaak succeeds in cranking costs down to 4.7 billion euros a year and revenue stabilises at 7.4 billion euros. Unlike wine, however, Australian iron ore may be less easy for China to substitute.
Persons: It’s, Rob Cox, Robert Swaak, Swaak, Christopher Thompson, Una Galani Organizations: Reuters, Corona, ABN Amro, SWISS MISS, didn’t, Canberra, Wine Estates, Oxford Locations: ZURICH, LONDON, MUMBAI, Beijing, China, SWISS, Alpine, It’s, Amsterdam, Australia, People’s Republic, Una
China Complains of U.S. Harassment of Chinese Airline and Ship Crews
  + stars: | 2020-11-30 | by ( Chun Han Wong | ) sentiment -1.00   time to read: +1 min
HONG KONG—China accused American officials of harassing Chinese airline and shipping crews that arrive in the U.S. in attempts to single out Communist Party members, and warned that Beijing may retaliate against Washington for what it considers to be provocative behavior. Chinese Foreign Ministry spokeswoman Hua Chunying said U.S. law-enforcement personnel have recently conducted surprise raids on sailors aboard arriving Chinese ships and questioned arriving Chinese airline crews to ascertain whether they are members of the Communist Party. Ms. Hua, speaking at a routine briefing on Monday, denounced these enforcement actions as a severe political provocation designed to “provoke ideological confrontation.”She called the actions manifestations of a revival of McCarthyism and right-wing efforts to contain China, responding to a question about state-media reports on the alleged harassment of Chinese crews. Beijing has lodged complaints with Washington and demanded an end to the alleged harassment, Ms. Hua said. “If the U.S. insists on escalating its provocative actions, China will definitely undertake countermeasures.”
Persons: Hua Chunying, Hua Organizations: Communist Party, Washington, Foreign Ministry Locations: HONG KONG, China, U.S, Beijing, Washington
China to impose sanctions on four over egregious behaviour on Hong Kong
  + stars: | 2020-11-30 | by ( Reuters Staff | ) sentiment -0.99   time to read: 1 min
FILE PHOTO: Chinese Foreign Ministry spokeswoman Hua Chunying attends a news conference in Beijing, China October 9, 2020. REUTERS/Thomas SuenBEIJING (Reuters) - China will impose sanctions on four people over their egregious behaviour regarding the Asian financial hub of Hong Kong, it said on Monday. They will be banned from entering China, foreign ministry spokeswoman Hua Chunying told a regular news briefing. This month, the United States said it was imposing sanctions on four more Chinese individuals related to actions over the former British colony, which returned to Chinese rule in 1997.
Persons: Hua Chunying, Thomas Suen BEIJING Organizations: Foreign Ministry, REUTERS Locations: Beijing, China, Hong Kong, United States, British
China sanctions four with U.S. democracy promotion ties over Hong Kong
  + stars: | 2020-11-30 | by ( Reuters Staff | ) sentiment -1.00   time to read: +2 min
BEIJING (Reuters) - China will impose sanctions on four people with links to U.S. democracy promotion efforts, it said on Monday, over what it called interference in the Asian financial hub of Hong Kong, following U.S. strictures on four Chinese individuals. FILE PHOTO: Chinese Foreign Ministry spokeswoman Hua Chunying attends a news conference in Beijing, China October 9, 2020. REUTERS/Thomas SuenRelations between the two nations have deteriorated to their worst in decades during outgoing U.S. President Donald Trump’s four-year term, with disputes simmering over issues from trade and technology to Hong Kong and the coronavirus. From Monday, they will be banned from entering China, a foreign ministry spokeswoman said in the Chinese capital. “The U.S. behaviour blatantly interferes in Hong Kong affairs and grossly interferes in China’s domestic affairs,” the spokeswoman, Hua Chunying, told a regular news briefing.
Persons: Hua Chunying, Thomas Suen, Donald Trump’s, John Knaus, Manpreet Anand, Kelvin Sit, Crystal Rosario, Hong Kong’s Organizations: Foreign Ministry, REUTERS, Thomas, National Endowment for Democracy, National Democratic Institute Locations: BEIJING, China, Hong Kong, Beijing, , U.S, United States, British
BEIJING (Reuters) - China said on Monday that it hoped the United States will not erect barriers and obstacles to cooperation, in response to reports Washington is poised to add Chinese firms SMIC and CNOOC to a defense blacklist. Foreign ministry spokeswoman Hua Chunying made the comments at a news briefing. The Trump administration is poised to add China’s top chipmaker SMIC and national offshore oil and gas producer CNOOC to a blacklist of alleged Chinese military companies, according to a document and sources, curbing their access to U.S. investors and escalating tensions with Beijing weeks before President-elect Joe Biden takes office.
Persons: Hua Chunying, Trump, CNOOC, Joe Biden Organizations: Foreign Locations: BEIJING, China, United States, Washington, Beijing
Chinese banks' profit growth seen recovering to 2-3% in 2021: report
  + stars: | 2020-11-30 | by ( Reuters Staff | ) sentiment -1.00   time to read: +1 min
FILE PHOTO: A security guard wearing a mask following the coronavirus disease (COVID-19) outbreak is seen near the Bank of China in Beijing, China, October 19, 2020. The report said banks’ credit risks are expected to keep accumulating in 2021, as more soured debts become exposed as support measures introduced because of the pandemic begin to expire. The sector-wide bad loan ratio is likely to reach 2-2.2% by the end of 2021, and will be higher for banks in small cities and rural areas where economic growth is expected to slow, according to the report. The non-performing loan ratio of Chinese commercial banks was 1.96% at the end of September, public data showed. “The non-credit investment at some banks will also face relatively big risks in 2021,” according to the report, “As such investments have mainly flowed into property projects and local government financing vehicles, and such risks are contagious.”
Persons: Tingshu Wang Organizations: Bank of China, REUTERS Locations: Beijing, China, Tingshu Wang BEIJING
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