DIRS.INFO The most relevant business & tech news

☆ Putin sees Belt and Road Initiative as China's desire to cooperate
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +2 min

Russian President Vladimir Putin speaks during a press conference following the Commonwealth of Independent States (CIS) leaders' summit in Bishkek, Kyrgyzstan, October 13, 2023. Sputnik/Pavel Bednyakov/Pool via REUTERS Acquire Licensing RightsBEIJING, Oct 15 (Reuters) - Russia President Vladimir Putin said that he sees China's Belt and Road Initiative (BRI) as a desire to cooperate on the global arena, Russian and Chinese news agencies reported on Sunday. "This is the difference between President Xi Jinping's Belt and Road Initiative and other projects pursued by countries with a colonialist flavour," Putin was quoted as saying. Putin also said the Belt and Road Initiative was timely and is developing well, according to RIA. Putin is due to attend the third Belt and Road Forum which will be held in Beijing on Oct. 17-18.

Persons: Vladimir Putin, Pavel Bednyakov, Putin, Xi, Lidia Kelly, Judy Hua, Muralikumar Organizations: Commonwealth of Independent States, CIS, Sputnik, REUTERS Acquire, Rights, Initiative, China Media Corporation, RIA, Thomson Locations: Bishkek, Kyrgyzstan, Rights BEIJING, Russia, People's Republic of China, China, Moscow, Beijing, Asia, Africa, Europe, Melbourne

☆ China's Aug new yuan loans seen rebounding on policy support
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

Chinese banks are estimated to have issued 1.20 trillion yuan ($163.41 billion) in net new yuan loans last month, more than triple July's 345.9 billion yuan, according to the median estimate in the survey of 20 economists. But that would be lower than 1.25 trillion yuan issued the same month a year earlier. Outstanding yuan loans were expected to grow by 11.1% in August from a year earlier, the same as in July, the poll showed. China is aiming to complete the issuance of the 2023 special local government bonds quota of 3.8 trillion yuan by end-September. In August, TSF is expected to jump to 2.46 trillion yuan from 528.2 billion yuan in July.

Persons: TSF, Li Qiang, Judy Hua, Kevin Yao, Tomasz Janowski Organizations: Citi, Thomson Locations: BEIJING, China

☆ Tesla China extends delivery time for Model Y Long Range to 6-8 weeks
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: 1 min

FILE PHOTO: People walk past a showroom outside Tesla China headquarters at China Central Mall in Beijing, China July 11, 2018. REUTERS/Jason Lee/File Photo Acquire Licensing RightsCompanies Tesla Inc FollowBEIJING, Sept 4 (Reuters) - Tesla China has extended delivery time for its Model Y Long Range to between six and eight weeks, according to its website on Monday. The delivery time for Model Y's two other versions - rear wheel drive and performance - remains unchanged at between two and six weeks in China. Reporting by Qiaoyi Li, Judy Hua and Brenda Goh; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Jason Lee, Qiaoyi Li, Judy Hua, Brenda Goh, Jacqueline Wong Organizations: China Central Mall, REUTERS, Inc, Thomson Locations: China, Beijing

☆ China halves stamp duty on stock trades to boost flagging market
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +2 min

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China October 25, 2022. REUTERS/Aly Song/File photo Acquire Licensing RightsBEIJING/SHANGHAI, Aug 27 (Reuters) - China halved the stamp duty on stock trading effective Monday in the latest attempt to boost the struggling market as a recovery sputters in the world's second-biggest economy. The finance ministry said in a brief statement on Sunday it was reducing the 0.1% duty on stock trades "in order to invigorate the capital market and boost investor confidence". Along with the finance ministry move, the China Securities Regulatory Commission (CSRC) is rolling out measures to shore up market confidence in investing in listed companies. China's leaders vowed late last month to reinvigorate the stock market - the world's second largest - which has been reeling as the post-pandemic recovery flags and a debt crisis in the property market deepens.

Persons: Aly, Xie Chen, CSRC, China's, Judy Hua, Joe Cash, Li Gu, William Mallard Organizations: REUTERS, Rights, Reuters, Shanghai Jianwen Investment Management, China Securities Regulatory Commission, Regulators, Ministry of Finance, State Council, Thomson Locations: Shanghai, Shenzhen, China, Rights BEIJING, SHANGHAI, Beijing

☆ China's Sinopec's interim profit down 20.1% on lower oil prices
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +2 min

Chinese refiners overall benefited from cheap crude oil supplies from Iran, Venezuela and Russia, as Western sanctions forced those producers to sell oil at deep discounts to keep revenue flowing. Although state majors have shied away from Iranian and Venezuelan oil, Sinopec has been taking in Russian supplies, traders have said. Sinopec produced 139.68 million barrels of crude oil during the six months, up 0.02% year on year, while its natural gas output gained 7.6% to 660.88 billion cubic feet. Capital expenditure for the half-year came in at 74.67 billion yuan, versus 64.65 billion yuan a year earlier. Its Hong Kong-listed shares have risen 14.4% year-to-date, outperforming Hang Seng Index (.HSI) which has fallen 10.9% during the period.

Persons: Chris Helgren, Sinopec, Chen Aizhu, Judy Hua, Robert Birsel Organizations: China Petroleum & Chemical Corporation, REUTERS, Rights, China Petroleum & Chemical, Sinopec Corp, Thomson Locations: Vancouver , British Columbia, Canada, Iran, Venezuela, Russia, Sichuan, Hong Kong

☆ China's July new yuan loans seen dipping after record H1 - Reuters poll
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +3 min

Chinese banks are estimated to have issued 800 billion yuan ($110.98 billion) in net new yuan loans last month, down sharply from 3.05 trillion yuan in June, according to the median estimate in the survey of 29 economists. But the expected new loans would be higher than the 679 billion yuan issued in the same month a year earlier. Chinese banks doled out 15.73 trillion yuan in new loans in the first six months of this year, the highest first-half number on record, central bank data showed. Outstanding yuan loans were expected to grow by 11.3% in July from a year earlier, the same as in June, the poll showed. In July, TSF is expected to fall sharply to 1.10 trillion yuan from 4.22 trillion yuan in June.

Persons: Kim Kyung, TSF, Judy Hua, Kevin Yao, Conor Humphries Organizations: REUTERS, Thomson Locations: Beijing, China, BEIJING

☆ China kindergarten attack kills six, sparks safety worries
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

In August last year, three people were killed and six wounded in a stabbing at a kindergarten in the southern province of Jiangxi. In 2021, a man killed two children and wounded 16 at a kindergarten in the southwestern region of Guangxi. Attacks on children have also thrown a spotlight on mental health, which often goes under the radar due to cultural stigma attached to mental illnesses. Last month, a series of violent attacks in Hong Kong also raised the issue of mental health. Mental health experts point to the COVID-19 pandemic as a major factor behind an increase in mental health problems.

Persons: Wu, Bernard Orr, Judy Hua, Qiaoyi Li, Ella Cao, Ryan Woo, Robert Birsel Organizations: Media, Weibo, Thomson Locations: BEIJING, China's Guangdong, Lianjiang county, Lianjiang, China, Jiangxi, Guangxi, Jiangsu, Hong Kong

Economists polled by Reuters had expected new yuan loans would jump to 1.6 trillion yuan last month, versus 718.8 billion yuan in April and against 1.89 trillion yuan a year earlier. Outstanding yuan loans in May grew 11.4% on year compared with 11.8% growth the previous month. Household loans including mortgages were up 367.2 billion yuan in May, versus a contraction of 241.1 billion yuan in April. Corporate loans rose to 855.8 billion yuan in May from 683.9 billion yuan in April, central bank data showed. In May, TSF rose to 1.56 trillion yuan from 1.22 trillion yuan in April.

Persons: Zhiwei Zhang, Yi Gang, Nomura, TSF, Qiaoyi Li, Judy Hua, Kevin Yao, Jacqueline Wong Organizations: People's Bank of China, Reuters, PMI, Capital, Analysts, U.S, Thomson Locations: BEIJING, Shanghai, Beijing, U.S . Federal, TSF

☆ Shanghai breaks more than century-old heat record in sweltering May
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +2 min

[1/3] A person uses clothing to protect themselves from the sun, as they walk on the Bund on a hot day, in Shanghai, China May 15, 2023. The peak recorded by the Shanghai Meteorological Bureau on Monday beat the previous May record of 35.7 degrees Celsius set in 1876, 1903, 1915 and 2018, according to bureau statistics. Earlier, many localities in Sichuan province, which is home to more than 80 million people, issued high-temperature warnings, with some areas maxing out at 42 degrees Celsius, local media reported. In the next three to five days, the maximum temperature in some cities in Sichuan, located in China's southwest, will reach 38 degrees Celsius, and hit 42 degrees Celsius in some areas, according to state media. China, known for extreme weather conditions, has also been experiencing torrential rains for weeks in some regions.

"We have an extraordinary relationship with China, a relationship that every day gets more acute and stronger," Lula said before his meeting with Xi. Brazil and China need to work together so that the relationship is not merely one of commercial interest, he added. China and Brazil did agree to set up a working group to pursue cooperation on semiconductors, strengthening ties with Beijing in areas of sensitive technology. Brazil is now the largest recipient of Chinese investment in Latin America, driven by spending on high tension electricity transmission lines and oil production. On Friday, the two countries agreed to encourage their companies to invest in each country in infrastructure, energy transition, logistics, mining, agriculture and high-tech industries.

☆ China urges Australia to treat all firms, including TikTok fairly
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: 1 min

BEIJING, April 7 (Reuters) - China said Australia's "discriminatory" ban on TikTok from all federal government-owned devices harmed the interests of Australian businesses and the public, urging Canberra to treat all firms fairly, a commerce ministry statement said on Friday. "Australia treated TikTok differently from other social media platforms and adopted discriminatory restrictive measures, which are not conducive to maintaining Australia's national security," the statement said. China also urged Australia to create a favourable environment for bilateral economic and trade cooperation. Reporting by Ellen Zhang, Judy Hua and Liz Lee; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ China launches recruitment drive for college graduates
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +1 min

The recruitment drive, hosted by the Ministry of Human Resources and Social Security, will last from Sunday to May 26, Xinhua said. The government aims to keep survey-based jobless rate of around 5.5% this year. During the first 10 days of the recruitment drive, 19 offline job fairs, eight cross-region job fairs and job fairs featuring sectors such as manufacturing, medicine and health, Internet and electricity and new energy will be hosted, Xinhua said. China's survey-based jobless rate was 5.6% in February, but for 16-24 years old it was 18.1%, National Bureau of Statistics data showed. A rise in the jobless rate in February was due to seasonal factors, the bureau said.

New bank lending fell much less than expected in February from a record high the previous month. Chinese banks extended 1.81 trillion yuan ($260 billion) in new loans last month. Analysts polled by Reuters had predicted they would fall to 1.50 trillion yuan from 4.9 trillion yuan in January, and compared with 1.23 trillion yuan a year earlier. Household loans, mostly mortgages, fell to 208.1 billion yuan in February from 257.2 billion yuan in January, while corporate loans fell to 1.61 trillion yuan from 4.68 trillion yuan. TSF for the month of February fell to 3.16 trillion yuan from 5.98 trillion yuan in January, but was still well ahead of expectations for 2.20 trillion yuan.

Analysts polled by Reuters had predicted new yuan loans would drop to 1.1 trillion yuan in December from 1.21 trillion yuan the previous month. New bank lending hit a record 21.31 trillion yuan in 2022, up from 19.95 trillion yuan in 2021 - the previous record. Broad M2 money supply grew by 11.8% in December from a year earlier, central bank data showed, below estimates of 12.2% forecast in the Reuters poll. Outstanding yuan loans grew by 11.1% in December from a year earlier compared with 11.0% growth in November. In December, TSF fell to 1.31 trillion yuan from 1.99 trillion yuan in November.

Analysts polled by Reuters had predicted new yuan loans would jump to 1.35 trillion yuan in November. Household loans, including mortgages, rose to 262.7 billion yuan in November, versus a contraction of 18 billion yuan in October. Corporate loans rose to 883.7 billion yuan from 462.2 billion yuan in October. New loans totalled 19.91 trillion yuan in January-November, central bank data showed, compared with a record 19.95 trillion yuan in 2021. Outstanding yuan loans grew 11.0% in November from a year earlier compared with 11.1% growth in October.

☆ Late Chinese leader Jiang Zemin's ashes are scattered at mouth of Yangtze River
▼ + stars: | 2022-12-11 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Dec 11 (Reuters) - The ashes of late Chinese leader Jiang Zemin were scattered into the sea at the mouth of the Yangtze River on Sunday, the state-run Xinhua news agency said. After arriving in Shanghai, the ashes were taken by hearse to the Wusong military port. Then Jiang's relatives escorted the ashes aboard the Yangzhou, a Chinese People's Liberation Army warship which was named after Jiang's hometown Yangzhou, Xinhua said. At the mouth of the Yangtze River, Jiang's widow Wang Yeping and other relatives, as well as Cai Qi, a senior Communist Party member, slowly scattered Jiang's ashes and colourful flower petals to the river and sea, it said. "Comrade Jiang Zemin devoted his life unreservedly to the motherland and the people," Xinhua said.

☆ China's capital swings from anger over zero-COVID to coping with infections
▼ + stars: | 2022-12-11 | by ( ) www.reuters.com time to read: +4 min

[1/3] Pandemic control workers in protective suits sit in a neighbourhood that used to be under lockdown, as coronavirus disease (COVID-19) outbreaks continue, in Beijing, China December 10, 2022. Anecdotal evidence suggests that many businesses have been forced to close as infected workers quarantine at home while many other people are deciding not to go out because of the higher risk of infection. "We can see that hundreds of thousands or tens of thousands of people are infected in several major cities," Zhong said. China's economy may grow 1.6% in the first quarter of 2023 from a year earlier, and 4.9% in the second, according to Capital Economics. Inbound travellers are subjected to five days of quarantine at centralised government facilities and three additional days of self-monitoring at home.

☆ China new bank lending nearly doubles after central bank help
▼ + stars: | 2022-10-11 | by ( Judy Hua | Kevin Yao | ) www.reuters.com time to read: +4 min

FILE PHOTO: Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. Analysts polled by Reuters had predicted new yuan loans would rise to 1.80 trillion yuan in September. New yuan loans totalled 18.08 trillion yuan in the first nine months, rising 1.36 trillion yuan from a year earlier, central bank data showed. Broad M2 money supply in September grew 12.1% from a year earlier, central bank data showed, in line with analysts’ forecasts in a Reuters poll. In September, TSF rose to 3.53 trillion yuan from 2.43 trillion yuan in August.

Search resuls for: "Judy Hua"

18 mentions found