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The visit came less than two weeks after House Speaker Nancy Pelosi’s trip to Taiwan, which prompted days of threatening military exercises by China, including the firing of missiles over the island and into the Taiwan Strait. Pelosi is the highest-level member of the U.S. government to visit Taiwan in 25 years. China’s previous two weeks of threatening exercises prompted Taiwan to put its military on alert, but were met largely with defiance and apathy among the public. China says it wants to use peaceful means to bring Taiwan under its control, but its recent saber rattling has emphasized its threat to take the island by military force. Investment in Taiwan’s crucial semiconductor industry and reducing tensions in the Taiwan Strait are expected to be key topics of discussion.
Persons: Nancy Pelosi’s, Pelosi, China’s, Lo, Cheng, , , ” Lo, Democratic Sen, Ed Markey, Aumua Amata Coleman Radewagen, John Garamendi, Alan Lowenthal, Don Beyer Organizations: China’s People’s Liberation Army, Defense Ministry, Eastern Theater Command, U.S, National Defense Committee, Democratic, Massachusetts, Investment, Republican Locations: China, Taiwan, Beijing, Taiwan Strait, Taipei, Taiwan’s, American Samoa, California, Virginia
Chinese developers in 'survival mode' slash property investment
  + stars: | 2022-08-15 | by ( ) www.reuters.com   time to read: +3 min
Summary Property investment in July drops 12.3% y/yNew construction starts fall at fastest pace in almost a decadeBEIJING, Aug 15 (Reuters) - Chinese developers in "survival mode" sharply cut property investment in July while new construction starts suffered their biggest fall in nearly a decade, suggesting the liquidity-challenged sector is not about to turn the corner anytime soon. Wary buyer sentiment has also chilled new investment by developers. Register now for FREE unlimited access to Reuters.com Register"Everyone except state-owned enterprises is in survival mode," said a senior official at a Shenzhen-based developer, speaking on condition of anonymity. In January-July, property investment fell 6.4% from a year earlier, the most since March 2020. New construction starts tumbled 36.1%, extending from a 34.4% drop in the first half.
Persons: Cash, Xi Jinping, Liangping Gao, Ryan Woo, Kevin Yao, Shuyan Wang, Clare Jim, Jacqueline Wong Organizations: National Bureau of Statistics, Reuters, Communist Party, CPC, Thomson Locations: BEIJING, Shenzhen, New
Shipments are expected to level off over the rest of the year, however, as Beijing prioritises the local market to curb domestic fuel inflation. Diesel, gasoline and jet fuel exports for the year are expected to be as much as 40% lower from 2021. This suggests monthly exports will hold near the recent pace over the rest of 2022 as China has already exported nearly 12 million tonnes of products in the first half. JLC expects 2022 diesel exports to shrink by 74% from 2021 to 4.5 million tonnes and gasoline to fall nearly 40% to 9 million tonnes. Only aviation fuel exports will rise, up 11% to 9.5 million tonnes, JLC said, as COVID-19 lockdowns and border controls cut domestic and international Chinese flights.
Persons: Chen Aizhu, Mukesh Sadhav, Sadhav, Zameer, JLC, Muyu Xu, Florence Tan, Tom Hogue Organizations: REUTERS, Diesel, China, Rystad Energy, Thomson Locations: Dongying, Shandong province, China, SINGAPORE, Beijing, Russia, Ukraine, South Korea, India, Asia, Middle East, Europe, U.S, Refinitiv, China's
Explainer: How China manages refined fuel exports
  + stars: | 2022-08-15 | by ( Chen Aizhu | ) www.reuters.com   time to read: +4 min
Workers are seen near pumpjacks at a China National Petroleum Corp (CNPC) oil field in Bayingol, Xinjiang Uighur Autonomous Region, China August 7, 2019. REUTERS/StringerSINGAPORE, Aug 15 (Reuters) - China's refined fuel exports are likely to sink in 2022 to the lowest in seven years as the country seeks to maintain ample domestic supplies while refinery output posts a rare decline. Register now for FREE unlimited access to Reuters.com RegisterMost quotas go to state oil groups, including China National Petroleum Corp, China Petrochemical Corp, China National Offshore Oil Corp, Sinochem Holdings and China National Aviation Fuel Company. Exports of very low sulphur fuel oil, a marine fuel that meets International Maritime Organization standards, are managed under a separate quota system. China's exports of diesel, gasoline and jet fuel peaked in 2019 at 55.4 million tonnes, with diesel accounting for nearly 40% of the total, according to Chinese customs data.
Persons: Stringer SINGAPORE, refiners, Chen Aizhu, Tom Hogue Organizations: National Petroleum Corp, REUTERS, Beijing, China National Petroleum Corp, China Petrochemical Corp, China National Offshore Oil Corp, Sinochem Holdings, China National Aviation Fuel Company, Mega, Zhejiang Petrochemical Corp, Maritime Organization, Singapore, Thomson Locations: pumpjacks, Bayingol, Xinjiang Uighur Autonomous Region, China, India, South Korea, Europe, Ukraine, Zhoushan, CHINA, Beijing
China unexpectedly cuts key rates as economic data disappoints
  + stars: | 2022-08-15 | by ( ) www.reuters.com   time to read: +5 min
"The People's Bank of China is already responding to these headwinds by stepping up support... But with credit growth proving less responsive to policy loosening than in the past, this probably won't be sufficient to prevent further economic weakness." read moreThe property sector, which has been further rocked by a mortgage boycott that weighed on buyer sentiment, deteriorated in July. Property investment tumbled 12.3% in July, the fastest rate this year, while the drop in new sales deepened to 28.9%. BALANCING ACTIn order to prop up growth, the central bank on Monday unexpectedly lowered interest rates on key lending facilities for the second time this year.
Persons: Julian Evans, Pritchard, Nie Wen, Fu, We've, Wang Jun, Wang, Kevin Yao, Stella Qiu, Ellen Zhang, Winni Zhou, Sam Holmes Organizations: National Bureau of Statistics, Capital Economics, People's Bank of, Hwabao Trust, NBS, China, Economist, Thomson Locations: BEIJING, SHANGHAI, China, People's Bank of China, New Zealand, Shanghai, Zhejiang, Yiwu, Beijing
China July property investment in biggest decline this year
  + stars: | 2022-08-15 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Thomas Peter/File PhotoSummary Property investment in July drops 12.3% y/yNew construction starts fall at fastest pace in almost a decadeBEIJING, Aug 15 (Reuters) - China's property investment by developers further worsened in July, down the most this year, while new construction starts suffered their biggest fall in nearly a decade, amid still tight funding conditions and weak sentiment. Wary buyer sentiment has also chilled new property investment by developers. Property investment in July fell 12.3% year-on-year, widening from a 9.4% drop in June, according to Reuters calculations based on data from the National Bureau of Statistics (NBS) on Monday. In July, new construction starts by floor area fell at the fastest pace since January-February 2013 - down 45.4% - after a 45% slump in June. In January-July, new construction starts tumbled 36.1%, extending from a 34.4% drop in the first half.
Persons: Thomas Peter, Goldman Sachs, Liangping Gao, Ryan Woo, Kevin Yao, Jacqueline Wong Organizations: REUTERS, National Bureau of Statistics, Goldman, Thomson Locations: Beijing, China, BEIJING
A key part of that operation would be China's Marine Corps, which has more than doubled in size since 2017. One important element of those plans is the People's Liberation Army Navy Marine Corps, or PLANMC, which has more than doubled in size since 2017. The death and rebirth of China's Marine CorpsMembers of China's Marine Corps at a military training base in China's Xinjiang Uighur Autonomous Region on January 21, 2016. (You can read more about the Ground Forces' amphibious units in this study by People's Liberation Army expert Dennis Blasko.) A Chinese Marine Corps armored vehicle fires during a drill at a military base in Taonan, Jilin province, January 25, 2015.
Persons: Nancy Pelosi, Connor Kennedy, Stringer, Dennis Blasko, Vitaly Nevar, Lance Corporal J.J, Harper, Kennedy, Beijing's, China's, Sébastien Roblin Organizations: Marine Corps, Service, US, Liberation Army Navy Marine Corps, China Maritime Studies, China's, Corps, REUTERS, South China Sea, Aviation, Special Forces, Ground Forces, People's Liberation Army, Navy Marine, Liberation Army Navy, Marines, Games, Mechanized, US Marine Corps, Marine, Amphibious Mechanized Battalion, Theater Command, Marine Brigade, 1st Marine Brigade, 2nd Marine Brigade, 164th Marine Brigade, 3rd Marine Brigade, Fujian East 13th Coastal, 4th Marine Brigade, Guangdong East 7th Coastal Defense Brigade, 5th Marine Brigade, Shandong North 8th Coastal Defense, 6th Marine Brigade, Shandong North 77th Motorized Infantry, PLA, Aviation Brigade, Brigade, China's Navy, Reuters, sealift, NBC, Georgetown University, Peace Corps, Twitter Locations: Taiwan, China, Ukraine, Xinjiang Uighur Autonomous Region, Vietnam, South, Pacific, China's, Djibouti, Getty, shipdeck, Zhanjiang, City , Province, Guangdong, Fujian East, Guangdong East, Shandong North, Dauphin, Somalia, Yemen, Target Taiwan, China's Fujian Province, Taonan, Jilin province, Russian
The gold, silver and jewelry category saw sales rise the most, up by 22.1%. Industrial production rose by 3.8%, also missing expectations for 4.6% growth and a drop from the prior month's 3.9% increase. Investment into real estate fell at a faster pace in July than June, while investment into manufacturing slowed its pace of growth. The unemployment rate among China's youth, ages 16 to 24, was a high 19.9%. The unemployment rate across all ages in cities was 5.4%.
Organizations: National Bureau of Statistics, Investment Locations: Guangzhou, China, BEIJING — China
Japan's Prime Minister Fumio Kishida speaks during a memorial service marking the 77th anniversary of Japan's surrender in World War II at the Nippon Budokan hall in Tokyo, Japan August 15, 2022. "In a world where conflicts are still unabated, Japan is a proactive leader in peace," he said. Footage on broadcaster NHK showed the shrine being visited early on Monday by several cabinet ministers, including Economic Security Minister Sanae Takaichi. Earlier the site was visited by Koichi Hagiuda, the head of the LDP's policy research council and a key ally of slain former prime Minister Shinzo Abe. Abe was the last prime minister in recent memory to visit Yasukuni while in office, in 2013 - a visit that outraged both China and South Korea and even drew a rebuke from its close ally the United States.
Persons: Fumio Kishida, Japan's, Yuichi Yamazaki, Nancy Pelosi, Shinzo Abe, Kishida, Emperor Naruhito, Sanae Takaichi, Koichi Hagiuda, Hirokazu Matsuno, Abe, Satoshi Sugiyama, Sakura Murakami, Kenneth Maxwell Our Organizations: Japan's, Nippon Budokan, REUTERS, . House, Liberal Democratic Party, Kyodo, NHK, Economic Security, Yasukuni, Thomson Locations: Tokyo, Japan, REUTERS TOKYO, China, South Korea, Beijing, Taiwan, Yasukuni, United States, East Asia
Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason LeeSHANGHAI, Aug 15 (Reuters) - China's central bank unexpectedly cut a key interest rate for the second time this year and withdrew some cash from the banking system on Monday, to try to revive credit demand to support the COVID-hit economy. read more"The rate cut surprises us," said Xing Zhaopeng, senior China strategist at ANZ. And with 600 billion yuan worth of MLF loans maturing, the operation resulted a net 200 billion yuan of fund withdrawal. Market participants have largely priced in the partial rollover as the banking system was already flush with cash, with interbank money rates hovering at two-year lows and persistently below policy rates.
Persons: Jason Lee SHANGHAI, Xing Zhaopeng, Frances Cheung, Ken Cheung, Winni Zhou, Brenda Goh, Kim Coghill, Neil Fullick Organizations: People's Bank of China, REUTERS, ANZ, OCBC Bank, Mizuho Bank, Thomson Locations: Beijing, China
Buildings of a residential compound are seen in Shanghai, China, March 17, 2016. REUTERS/Aly SongBEIJING, Aug 15 (Reuters) - China's new home prices in July were unchanged for a second month as already fragile sentiment was further corroded by a mortgage boycott by homebuyers upset by unfinished projects despite continued stimulus measures. Compared to a year ago, new home prices in July fell 0.9%, the fastest pace since September 2015, and extending a 0.5% decline in June, according to Reuters calculations based on National Bureau of Statistics (NBS) data released on Monday. Already grappling with a debt crisis among developers and weak homebuyer sentiment, China's property market, accounting for a quarter of gross domestic product by some metrics, has been further rocked by a mortgage boycott that erupted last month across the country. Register now for FREE unlimited access to Reuters.com RegisterReporting by Liangping Gao and Ryan Woo; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.
Persons: Aly Song BEIJING, homebuyers, Liangping Gao, Ryan Woo, Christian Schmollinger Organizations: REUTERS, National Bureau of Statistics, Thomson Locations: Shanghai, China
Register now for FREE unlimited access to Reuters.com RegisterThe exercises were "a stern deterrent to the United States and Taiwan continuing to play political tricks and undermine peace and stability across the Taiwan Strait", it added. Taiwan Premier Su Tseng-chang said they would not be deterred by China's response to such visits by foreign friends. The latest group of U.S. lawmakers to visit Taiwan were due to meet Tsai on Monday morning. "In all of these meetings, the delegation had an opportunity to exchange views with Taiwan counterparts on a wide range of issues of importance to both the United States and Taiwan," the American Institute in Taiwan said. The United States has no formal diplomatic ties with Taiwan but is bound by law to provide the democratically governed island with the means to defend itself.
Persons: Tsai Ing, Ed Markey, Nancy Pelosi, Su Tseng, Tsai, Joseph Wu, Taiwan's, Ben Blanchard, Himani Sarkar, Robert Birsel Organizations: People's Liberation Army, PLA, Eastern, Command, cnsphoto, REUTERS, . House, Eastern Theatre Command, China's Defence Ministry, U.S, Taiwan, American Institute, United, Beijing, Thomson Locations: Zhangzhou, Fujian province, China, REUTERS BEIJING, TAIPEI, Taiwan, U.S, Beijing, Taipei, United States, Washington, Republic of China
BEIJING — As tensions in the Taiwan Strait reached their highest level in decades, China held the world rapt with a show of military might, deploying its largest-ever military exercises to intimidate Taiwan and its supporters. But the message that China has sought to convey involves far more than warships and fighter jets. Alongside its flashy display of raw power, China has been laying out its most forceful vision — political, economic, cultural — of a future unified with Taiwan. China and Taiwan would work together to repel shadowy foreign powers seeking to use the island to weaken Beijing. And the Taiwanese people themselves would set aside the separate identity that has emerged on the island, recognize their blood and cultural roots and return to the motherland’s embrace.
Persons: Xi Jinping Organizations: BEIJING, Taiwan Locations: Taiwan, China, Hong Kong, Beijing
A congressional delegation led by Sen. Ed Markey, D-Mass., landed in Taiwan Sunday, less than two weeks after House Speaker Nancy Pelosi's visit to the Beijing-claimed island drew a furious response from China. The five-member delegation also includes Rep. John Garamendi, D-Calif., Rep. Alan Lowenthal, D-Calif., Rep. Don Beyer, D-Va., Rep. Amata Coleman Radewagen, R-American Samoa, the American Institute in Taiwan said in a statement on Sunday. They will meet senior Taiwanese leaders to discuss security, trade, supply chains and other issues, the statement said. ET) at Songshan Airport in Taiwan's capital Taipei, the group were welcomed by Vice Foreign Affairs Minister Alexander Tah-ray Yui. China angrily denounced Pelosi‘s visit to Taiwan as a “serious violation” and launched a series of military exercises around the self-governing island in response.
Persons: Sen, Ed Markey, Nancy Pelosi's, John Garamendi, Alan Lowenthal, Don Beyer, Amata Coleman Radewagen, Alexander Tah, Yui, China, Pelosi‘s Organizations: American Institute, Songshan, Vice Foreign Locations: Taiwan, Beijing, China, American Samoa, U.S, Taiwan's, Taipei
Chinese and Taiwanese national flags are displayed alongside military airplanes in this illustration taken April 9, 2021. REUTERS/Dado Ruvic/IllustrationAug 14 (Reuters) - Eleven Chinese military aircraft crossed the Taiwan Strait's median line or entered Taiwan’s air defence zone on Sunday, Taiwan's Defence Ministry said, as Beijing continues military activities close to the Chinese-claimed island. Register now for FREE unlimited access to Reuters.com RegisterReporting by Yi-Mou Lee Writing by Shanghai Newsroom Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
Persons: Dado Ruvic, Yi, Mou Lee, David Goodman Organizations: REUTERS, Taiwan's Defence Ministry, Shanghai, Thomson Locations: Taiwan, Beijing
U.S. lawmakers arrive in Taiwan amid China tensions
  + stars: | 2022-08-14 | by ( ) www.reuters.com   time to read: +2 min
A Taiwan flag can be seen at Liberty Square in Taipei, Taiwan, July 28, 2022. REUTERS/Ann WangTAIPEI, Aug 14 (Reuters) - A U.S. lawmaker delegation arrived in Taiwan on Sunday for a two-day visit during which they will meet President Tsai Ing-wen, the second high-level group to come amid continued military tensions with the island's giant neighbour China. Register now for FREE unlimited access to Reuters.com RegisterTaiwan's presidential office said the group would meet Tsai on Monday morning. "Especially at a time when China is raising tensions in the Taiwan Strait and the region with military exercises, Markey leading a delegation to visit Taiwan once again demonstrates the United States Congress' firm support for Taiwan," it said in a statement. Taiwan's Defence Ministry said on Sunday it had detected 22 Chinese aircraft and six naval ships in and around the Taiwan Strait.
Persons: Ann Wang, Tsai Ing, Nancy Pelosi, Ed Markey, Tsai, Markey, Ben Blanchard, Kirsten Donovan, Nick Macfie Organizations: Liberty, REUTERS, U.S, United States Congress, Taiwan, Taiwan's Defence, Taiwan Strait ., Shanghai, Thomson Locations: Taiwan, Taipei, Ann Wang TAIPEI, U.S, China, Beijing, Taiwan Strait, Taipei's, Songshan, Taoyuan
A five-member congressional delegation arrived in Taiwan on Sunday, less than two weeks after the contentious visit by House Speaker Nancy Pelosi that infuriated China and drew intense Chinese military drills off the island’s coast. The bipartisan group, led by Senator Ed Markey, Democrat of Massachusetts, was welcomed by Taiwanese officials who said they appreciated the show of solidarity during the escalating tensions with Beijing. There was no immediate response from Beijing, but the presence of the five American lawmakers so quickly after Ms. Pelosi’s visit was likely to provoke a sharp reaction, possibly of more military exercises, analysts said.
Persons: Nancy Pelosi, Ed Markey, Pelosi’s Locations: Taiwan, China, Massachusetts, Beijing
U.S. lawmakers arrive in Taiwan with China tensions simmering
  + stars: | 2022-08-14 | by ( ) www.cnbc.com   time to read: +3 min
In this photo released by the Taiwan Ministry of Foreign Affairs, from left, U.S. Democratic House member Alan Lowenthal from California, Democratic House members John Garamendi, Donald Yu-Tien Hsu, Director-General, dept. A delegation of U.S. lawmakers arrived in Taiwan on Sunday for a two-day trip during which they will meet President Tsai Ing-wen, the second high-level group to visit while there are military tensions between the self-ruled island and China. "Especially at a time when China is raising tensions in the Taiwan Strait and the region with military exercises, Markey leading a delegation to visit Taiwan once again demonstrates the United States Congress' firm support for Taiwan," it said in a statement. Markey's office said the lawmakers "will reaffirm the United States' support for Taiwan as guided by the Taiwan Relations Act, U.S. - China Joint Communiques, and Six Assurances, and will encourage stability and peace across the Taiwan Strait." Eleven Chinese military aircraft crossed the Taiwan Strait's median line or entered Taiwan's air defense zone on Sunday, Taiwan's Defence Ministry said.
Persons: Alan Lowenthal, John Garamendi, Donald Yu, Tien Hsu, Don Beyer, Aumua Amata Coleman Radewagen, Tsai Ing, Nancy Pelosi's, Ed Markey, Tsai, Markey Organizations: Taiwan Ministry of Foreign Affairs, Democratic, North American Affairs, Taiwan's Ministry of Foreign Affairs, Republican, U.S, House, United States Congress, Taiwan, Foreign Relations, International Cybersecurity, congressional, Weapons, Taiwan Relations, Taiwan's Defence Ministry Locations: U.S, California, Virginia, American Samoa, Taipei, Taiwan, China, Beijing, Taiwan Strait, Asia, Pacific, United States, Taipei's, Songshan, Taoyuan
China Sets Joint Air-Force Training With Thailand
  + stars: | 2022-08-13 | by ( James T. Areddy | ) www.wsj.com   time to read: 1 min
China’s military said it would dispatch jet fighters to Thailand for joint air-force training with the U.S. ally starting Sunday, drills that come on the heels of Beijing’s live-fire exercises around Taiwan and coincide with a large U.S. military exercise in Indonesia. The coming Falcon Strike exercises will mark the fifth time the Thai and Chinese air forces have practiced and are focused on building trust between the nations, China’s Ministry of National Defense said.
Persons: Beijing’s Organizations: China’s Ministry of National Defense Locations: Thailand, U.S, Taiwan, Indonesia, Thai
REUTERS/Tingshu WangAug 13 (Reuters) - Taiwan's foreign ministry expressed its "sincere gratitude" towards the United States for taking "concrete actions" to maintain security and peace in the Taiwan Strait and the region in a statement on Saturday. The statement came in response to comments from U.S. Indo-Pacific coordinator Kurt Campbell, who said on Friday that China "overreacted" to U.S. House of Representatives Speaker Nancy Pelosi's visit to Taiwan. read moreThe foreign ministry statement said that China's "unprovoked military and economy intimidation" had "further strengthened the unity and resilience of the global democratic camp". Taiwan President Tsai Ing-wen said on Thursday that China's threat of force is undiminished, even though Beijing's largest- ever military drills around the island following Pelosi's visit last week seemed to be scaling down. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by David Kirton; Editing by Tom Hogue and Michael PerryOur Standards: The Thomson Reuters Trust Principles.
Persons: Tingshu Wang, Kurt Campbell, Nancy Pelosi's, Tsai Ing, David Kirton, Tom Hogue, Michael Perry Organizations: Liberation Army, PLA, REUTERS, . House, Thomson Locations: Beijing, China, United States, Taiwan Strait, Pacific, Taiwan
Taiwan thanks U.S. for maintaining security in Taiwan Strait
  + stars: | 2022-08-13 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Tingshu WangTAIPEI, Aug 13 (Reuters) - Taiwan's foreign ministry on Saturday expressed "sincere gratitude" towards the United States for taking "concrete actions" to maintain security and peace in the Taiwan Strait and the region. "Taiwanese are very enthusiastic and love freedom and democracy, so many good international friends have come to Taiwan to support us. This is a normal and good thing, but China threatens and intimidates Taiwan," she said. The defeated Republic of China government fled to Taiwan in 1949 after losing a civil war to Mao Zedong's Communist Party, which established the People's Republic of China in Beijing. China has never renounced the use of force to bring democratically governed Taiwan under its control.
Persons: Wang, Kurt Campbell, Nancy Pelosi's, Tsai Ing, Tsai, Mao Zedong's, Sarah Wu, David Kirton, Ben Blanchard, Tom Hogue, Michael Perry, William Mallard Organizations: Liberation Army, PLA, REUTERS, . House, Beijing, Reuters.com, Taiwan, Mao Zedong's Communist Party, Thomson Locations: Beijing, China, Wang TAIPEI, United States, Taiwan Strait, U.S, Pacific, Taiwan, People's Republic of China, Republic of China
More than two years into the pandemic, parts of China are still in and out of COVID-19 lockdowns. China faces elderly vaccine hesitancy and the lack of a domestic mRNA vaccine to exit its COVID-19 stance. Here are two reasons why China is so reluctant to abandon its zero-Covid policy — and what it'll take to eventually get there. And China has not yet developed its own mRNA vaccine — which is hampering the country's exit from the pandemic. He estimates China is likely to end lockdowns only after Chinese New Year, which will be in late January 2023.
Persons: , Stephen Morrison, Scott Kennedy, Yanzhong Huang, Johns, it's, It's, Bo Zhuang, Loomis Sayles, Scott Rosenstein, Zero, That's, Xi Jinping Organizations: Service, Center for Strategic, International Studies, Bloomberg, International Monetary Fund, Eurasia Group, Johns Hopkins, Resource, National Health Commission, China National Health Commission, Covid, Reuters, Boston, Therapeutics, quicken Locations: China, COVID, Shanghai, Hainan, US, lockdowns, Beijing, Eurasia
Chinese and Taiwanese national flags are displayed alongside a military airplane in this illustration taken April 9, 2021. REUTERS/Dado Ruvic/IllustrationTAIPEI, Aug 13 (Reuters) - Thirteen Chinese air force planes crossed the Taiwan Strait's median line on Saturday, Taiwan's Defence Ministry said, as Beijing continues its military activities close to the Chinese-claimed island. Register now for FREE unlimited access to Reuters.com RegisterReporting by Roger Tung; Writing by Ben Blanchard; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.
Persons: Dado Ruvic, Roger Tung, Ben Blanchard, Alison Williams Organizations: REUTERS, Taiwan's Defence Ministry, Thomson Locations: TAIPEI, Taiwan, Beijing
Sinopec has notified the NYSE that it plans to voluntarily delist its American depositary shares. Five Chinese state-owned companies said they intend to delist their American depositary shares from the New York Stock Exchange, as financial regulators in Beijing and Washington remain at loggerheads over U.S. audit requirements. In separate filings to Hong Kong’s stock exchange Friday, PetroChina China Petroleum & Chemical Aluminum Corp. of China China Life Insurance Co and Sinopec Shanghai Petrochemical Co . said they have notified the NYSE that they plan to voluntarily delist their American depositary shares.
Persons: Sinopec Organizations: NYSE, New York Stock Exchange, China Petroleum, Chemical Aluminum Corp, China China Life Insurance, Shanghai Petrochemical Co Locations: Beijing, Washington, Hong, China
China’s Computer Chips Are Down
  + stars: | 2022-08-12 | by ( The Editorial Board | ) www.wsj.com   time to read: 1 min
President Joe Biden signs the CHIPS and Science Act of 2022 on the South Lawn of the White House on Aug. 9. America’s industrial-policy advocates see China as a technological juggernaut whose government direction the U.S. must imitate or become a declining power. Yet that’s not how it looks from Beijing, which is frustrated by its second-string semiconductor industry. President Biden on Tuesday invoked the hobgoblin of Chinese technological superiority as he signed Congress’s $280 billion computer-chip subsidy bill. China has leapfrogged the U.S. in research and development, he claimed, and “is trying to move way ahead of us in manufacturing these sophisticated chips.” Beijing may be trying but it is struggling mightily despite spending enormous sums.
Persons: Joe Biden, that’s, Biden, Organizations: White, China, Congress’s Locations: U.S, Beijing, China
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