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☆ China may have to resort to a tried-and-tested tactic to power its 'new leap forward'
▼ + stars: | 2024-03-06 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +5 min

Liu Liqun | Corbis Documentary | Getty ImagesChina may want a "new leap forward" in "productive forces" — but President Xi Jinping may need to resort to an old tactic to hit the country's ambitious growth target this year, one economist warns. While scant on specifics, the work report appears to suggest Beijing is refraining from the aggressive, bazooka-like stimulus that some markets observers were expecting. China has historically resorted to infrastructure building as a short-term fix to boost growth, particularly after the 2008-09 financial crisis. Goldman Sachs economists said that this pledge is the "most important positive surprise" from this year's government work report. Chinese Premier Li Qiang delivers a speech during the opening of the second session of the 14th National People's Congress at The Great Hall of People on March 5, 2024 in Beijing, China.

Persons: Liu Liqun, Xi Jinping, Wang Dan, Wang, Erica Tan, Goldman Sachs, Li Qiang, Li, Lintao Zhang Organizations: Bund, Getty, Hang Seng Bank, CNBC, China Investment Corporation, Maybank, Seng Bank, National People's Congress, of People Locations: China, Beijing, overcapacity, Covid, Gorges

☆ China launches first cross-sea bullet train line near Taiwan Strait
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

A bullet train speeds during its debut near a railway station in Shanghai January 28, 2007. A bullet train departed from Fuzhou, the capital of east China's Fujian province Thursday morning, setting up the opening of the 277-km (172-mile) Fuzhou-Xiamen-Zhangzhou railway, Xinhua reported. China Railway Siyuan Survey and Design Group Co Ltd designed the railway project. China recently announced details of its plan to turn Fujian into a zone for integrated development with Taiwan, which sits opposite the province. Separately, earlier this week China unveiled its first commercial suspended monorail line in Wuhan, the capital of Hubei province.

Persons: Aly Song, Bernard Orr, Christian Schmollinger Organizations: REUTERS, Rights, China State Railway Group Co, China Railway Siyuan Survey, Design, China Daily, Thomson Locations: Shanghai, CHINA, Rights BEIJING, China, Fujian, Taiwan Strait, Fuzhou, Xiamen, Zhangzhou, Xinhua, Taiwan, Wuhan, Hubei province, Beijing

☆ China to formulate 'special' measures to widen Taiwan's access to Fujian
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

A Chinese warship fires during a military drill off the Chinese coast near Fuzhou, Fujian Province, across from the Taiwan-controlled Matsu Islands, China, April 11, 2023. REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, Sept 14 (Reuters) - China will take a number of "special" policy measures to improve access for Taiwanese enterprises to Fujian province across the Taiwan Strait, the Chinese state planner said on Thursday, under a long-term cross-strait integrated development plan. The steps are part of a plan announced by China on Tuesday to turn coastal Fujian province into a zone for integrated development with Taiwan, which China claims as part of its territory. He added that Beijing also supports new energy cooperation between Taiwan, which it regards as a Chinese province, and Ningde, a Fujian city north of Xiamen. Strait Innovation Internet Co (300300.SZ) and Zhongfu Straits Pingtan Development Co (000592.SZ), both based in Pingtan, rose 8% and 5%, respectively.

Persons: Thomas Peter, Liang, Ryan Woo, Ethan Wang, Jason Xue, Jacqueline Wong Organizations: REUTERS, Rights, National Development, Reform Commission, Innovation Internet, Pingtan Development, Thomson Locations: Fuzhou, Fujian Province, Taiwan, Matsu Islands, China, Rights BEIJING, Fujian, Taiwan Strait, Xiamen, Kinmen, Beijing, Pingtan, China's, Zhongfu

☆ China to Formulate 'Special' Measures to Widen Taiwan's Access to Fujian
▼ + stars: | 2023-09-13 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

BEIJING (Reuters) -China will take a number of "special" policy measures to improve access for Taiwanese enterprises to Fujian province across the Taiwan Strait, the Chinese state planner said on Thursday, under a long-term cross-strait integrated development plan. The steps are part of a plan announced by China on Tuesday to turn coastal Fujian province into a zone for integrated development with Taiwan, which China claims as part of its territory. He added that Beijing also supports new energy cooperation between Taiwan, which it regards as a Chinese province, and Ningde, a Fujian city north of Xiamen. Opening up of an experimental development zone in Pingtan, China's closest point to the main Taiwan island across the strait, will be expedited, Cong added. Strait Innovation Internet Co and Zhongfu Straits Pingtan Development Co, both based in Pingtan, rose 8% and 5%, respectively.

Persons: Liang, Ryan Woo, Ethan Wang, Jason Xue, Jacqueline Wong Organizations: National Development, Reform Commission, Innovation, Pingtan Locations: BEIJING, China, Fujian, Taiwan Strait, Xiamen, Taiwan, Kinmen, Beijing, Pingtan, China's, Zhongfu

Hong Kong CNN —China on Tuesday unveiled a plan to deepen integration between the coastal province of Fujian and self-governing Taiwan, touting the benefits of closer cross-strait cooperation while sending warships around the island in a show of military might. The document, hailed as a “blueprint” of Taiwan’s future development by Chinese experts cited in state media, comes at a delicate moment in cross-strait relations as Taiwan gears up for its presidential election in January. Ahead of Beijing’s release of its integration plan, a Chinese aircraft carrier and around two dozen Chinese warships were spotted gathering in waters near Taiwan this week, according to Taiwanese authorities. Fujian, a province of 40 million people on the western side of the Taiwan Strait, is the closest to Taiwan both geographically and culturally. In Tuesday’s directive, Beijing pledges to further speed up integration between the city of Xiamen and Kinmen – which are only a few miles apart.

Persons: Wang Ting, ” Wang, “, China’s, Kinmen, ” Organizations: Hong Kong CNN, Communist Party’s Central, State, Communist Party, Democratic Progressive Party, Taiwan, Mainland Affairs Council, CNN, Times Locations: Hong Kong, China, Fujian, Taiwan, Beijing, Kinmen, Xiamen, Fuzhou, Matsu, Taipei

☆ China will widen market access for the service industry - President Xi
▼ + stars: | 2023-09-02 | by ( ) www.reuters.com time to read: +1 min

Chinese President Xi Jinping is seen on a screen during a video address for the Global Trade in Services Summit, at the media centre for China International Fair for Trade in Services (CIFTIS) in Beijing, China September 2, 2023. REUTERS/Florence Lo Acquire Licensing RightsBEIJING/SHANGHAI, Sept 2 (Reuters) - Chinese President Xi Jinping said on Saturday that China would widen market access in the service industry and promote cross-border services trade. Speaking via video at the China International Fair for Trade in Services (CIFTIS) in Beijing, Xi said China would focus on expanding the domestic market, increasing imports of high-quality services and reforming the country's basic data system. Xi said China will promote the integrated development of high-end manufacturing and modern service industries. Reporting by Jing Xu and Ryan Woo in Beijing and Jason Xue in Shanghai.

Persons: Xi Jinping, Florence Lo, Xi, Jing Xu, Ryan Woo, Jason Xue, Gerry Doyle, Miral Organizations: Global Trade, Services, China, Fair for Trade, REUTERS, Rights, Thomson Locations: Beijing, China, Rights BEIJING, SHANGHAI, Shanghai

☆ Amazon Web Services has launched a new AI team as it scrambles to compete with rivals like OpenAI, leaked email and transcript shows
▼ + stars: | 2023-07-13 | by ( Ashley Stewart | Eugene Kim | ) www.businessinsider.com time to read: +4 min

Amazon is internally scrambling to take advantage of the generative AI boom. AWS just created a new org focused on getting customers to use generative AI to build on its cloud. Amazon Web Services has created a new organization focused on helping customers use generative AI tech on its cloud as the company scrambles to respond to the AI boom, an internal email viewed by Insider shows. "Across AWS (and Amazon), teams are experimenting with generative Al tools to improve builder productivity," DeSantis wrote. "Generative AI will also make it easier to enable a broader group of builders to develop applications on AWS," DeSantis wrote.

Persons: Peter DeSantis, DeSantis, Deepak Singh, Swami Sivasubramanian, I've, Jeff Bezos, Doug Seven, Jonathan Weiss, Harry Mower, Adam Seligman, Adam Selipsky, Selipsky, Ashley Stewart, Eugene Kim Organizations: Services, Insider, Amazon, AWS, Integrated Development, Singh, Web Services

☆ Economic development in Asia still faces many challenges, China minister says
▼ + stars: | 2023-05-27 | by ( ) www.reuters.com time to read: +2 min

BEIJING, May 27 (Reuters) - Economic and trade development in the Asia-Pacific still faces many disturbances and challenges, China's commerce minister Wang Wentao said. Wang made the comments at the Asia-Pacific Economic Cooperation (APEC) conference in Detroit, where he met with several leaders and exchanged views on multilateral and bilateral economic and trade issues amid wider global trade rifts and uncertainties. "The Asia-Pacific region has always been the region with the most growth vitality, development potential and economic resilience in the global economy, but economic and trade development still faces many disturbances and challenges," Wang said, according to a statement from the Chinese Ministry of Commerce. Wang also discussed China's positions on supporting the multilateral trading system and promoting sustainable and inclusive trade development. World leaders have been looking for ways to fortify global supply chains, which are still wobbly in the post-COVID world.

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