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SHANGHAI (Reuters) - Foreign investors are piling into China at the start of 2022, seeing it as a haven from the inflation, growth and pandemic problems plaguing most other markets. Fidelity International also sees China stocks as attractive from a global perspective. Bond investors, too, are drawn toward China, against the backdrop of a widening Sino-U.S. monetary policy divergence. In contrast, foreign money inflows into emerging markets outside China has “come to an abrupt standstill”, the Institute of International Finance (IIF) said. In December, emerging markets (EM) outside China suffered an outflow of $9.6 billion, compared with an inflow of $10.1 billion for China.
Persons: Dado Ruvic, David Dali, Dali, Xi Jinping’s, Zhou Wenqun, Morgan Stanley, , Paula Chan, , ” IIF Organizations: REUTERS, Federal, Matthews, Fidelity International, Stock Connect, Manulife Investment Management, Institute of International Finance, Omicron, , China Merchants Bank, NARI, Ping An Insurance Group, UBS Securities Locations: SHANGHAI, China, Matthews Asia, Shanghai, U.S
A surveillance camera is seen near a coal-fired power plant in Shanghai, China, October 14, 2021. "Reducing emissions is not about reducing productivity, and it is not about not emitting at all," Xi was quoted by state news agency Xinhua as saying. "We must stick to the overall planning and ensure energy security, industrial supply chain security and food security at the same time as cutting carbon emissions," he said. With energy supplies still a major concern after a wave of shortages hit manufacturers last year, Xi also told Party leaders that "the gradual withdrawal of traditional energy must be based on the safe and reliable replacement by new energy." China's state planning agency also said in December that it will loosen blanket restrictions on energy consumption in order to ensure environmental targets do not erode growth.
Persons: Aly, Xi Jinping, Xi, Zhang Bo, David Stanway, Muyu Xu, Kim Coghill Organizations: REUTERS, Communist Party, Reuters.com, Xinhua, Ministry, Ecology, Thomson Locations: Shanghai, China
China's Shenzhen gets green light for next wave of reforms
  + stars: | 2022-01-26 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Carlos Garcia RawlinsSHENZHEN, China, Jan 26 (Reuters) - China's state planner has given its blessing for the southern city of Shenzhen to pursue reforms in areas such as relaxed market access for cross border data trading and an electronics trading platform, guidelines published on Wednesday show. Shenzhen would become a "model city for a strong socialist country," Xi said in October 2020. It also calls on the city to develop trading products related to yuan settlements, and an offshore trading platform, though details are not spelled out. Shenzhen should also build an international platform for trading electronic components and integrated circuits, providing support on customs declarations and other logistical matters. Register now for FREE unlimited access to Reuters.com RegisterReporting by David Kirton; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.
Persons: Xi Jinping, Carlos Garcia Rawlins, Xi, David Kirton, Raju Gopalakrishnan Organizations: Economic, REUTERS, National Development, Reform Commission, Greater, Thomson Locations: Shenzhen, Beijing, China, Carlos Garcia Rawlins SHENZHEN, Greater Bay Area, Hong Kong, Macau
Hong Kong (CNN Business) China's top cybersecurity regulator is vowing to crack down on "illegal" online content as part of a campaign to clean up the internet ahead of the Beijing Winter Olympics and one of the country's most important annual holidays. The Cyberspace Administration of China announced Tuesday that its month-long internet "purification" campaign is intended to create a "healthy, happy, and peaceful online environment." The powerful internet watchdog — which President Xi Jinping set up in 2014 in the name of protecting China's internet and data security — tied the campaign to the start of the Lunar New Year, a major festival that runs from January 31 to February 6. According to the cyberspace agency's plan, the homepages of key media sites, trending topic search lists, push pop-up windows, and important news content pages must be carefully managed to present "positive information." It added that obscene, vulgar, bloody, violent and other illegal or bad information should be eradicated to create a "positive online atmosphere."
Persons: Xi Jinping, , Xi Organizations: CNN, Beijing Winter, Cyberspace Administration, China Locations: Hong Kong, China
Beijing's "small giants" list is its attempt to foster startups pioneering strategically important tech. Beijing is roping in the help of some 3,000 "small giants" in 2021 to sharpen China's edge in technology and manufacturing, even as it continues to clamp down on its homegrown tech behemoths Tencent and Alibaba. The "small giants" list, introduced in 2019, is Beijing's attempt to discover and nurture innovative startups and small companies across the country in sectors of national importance. Today, some 90% of the 4,762 on the small giants list are in manufacturing or focusing on high technology. China aims to nurture 10,000 "small giants" by 2025.
Persons: xiao, Beijing's, Kenneth Huang, Xi Jinping, Barry Naughton, Valarie Tan, Donald Trump Organizations: China's Ministry of Industry, Information Technology, Electronic Technology Corp, Shenzhen Stock Exchange, National University of Singapore, University of California, Big Tech, White Locations: China, Beijing, China's, Shenzhen, San Diego, Berlin
REUTERS/Sergey PivovarovWASHINGTON, Jan 26 (Reuters) - The Beijing Winter Olympics could affect the timing of any Russian invasion of Ukraine, U.S. Deputy Secretary of State Wendy Sherman said on Wednesday, adding that Chinese President Xi Jinping would not be happy if the two were to coincide. "We all are aware that the Beijing Olympics are beginning on February 4th, the opening ceremony, and President Putin expects to be there. I think that probably President Xi Jinping would not be ecstatic if Putin chose that moment to invade Ukraine," Sherman said during a virtual conversation hosted by Yalta European Strategy. read moreThe United States and its allies have warned Russia of harsh sanctions if it goes ahead with an invasion of Ukraine, but some 100,000 Russian troops remain near the border with no signs of de-escalation. Sherman said the United States was preparing for all kinds of scenarios, including a "full-on invasion," but said even a single Russian soldier entering Ukraine would be a very serious matter.
Persons: Sergey Pivovarov WASHINGTON, Jan, Wendy Sherman, Xi Jinping, . Sherman, Vladimir Putin, Putin, Sherman, ” Putin, Humeyra Pamuk, Simon Lewis, Doina Chiacu, Nick Macfie Organizations: REUTERS, Beijing, Yalta, U.S, Embassy, NATO, Thomson Locations: Rostov, Russia, Ukraine, U.S, ., Europe, Russian, Beijing, United States, American
Putin would anger Xi Jinping if he invaded Ukraine during the Winter Olympics in Beijing, a top US diplomat said. "Xi Jinping would not be ecstatic if Putin chose that moment to invade Ukraine," Deputy Secretary of State Wendy Sherman said. "We all are aware that the Beijing Olympics are beginning on February 4th, the opening ceremony, and President Putin expects to be there. The Biden administration has maintained that Russia would face severe economic consequences if Russia invades, including sanctions directly targeting Putin. The Russian president has whitewashed his own record of aggression in the region, which is what pushed Ukraine closer to the West and NATO in recent years.
Persons: Putin, Xi, Wendy Sherman, Xi Jinping, Vladimir Putin, Sherman, Joe Biden, Biden Organizations: US, Service, Yalta, Reuters, West, White House, NATO, NATO —, Ukrainian Locations: Ukraine, Beijing, Russia, Moscow, Ukraine's, Eastern Europe, Crimea
China has rapidly increased its long-range bomber flights over water in recent years, catching the attention of US military officials. China's bomber flights around the first island chain, which includes Japan, Taiwan, and the Philippines, are relatively new and reflect how the Chinese military has rapidly grown in size and capability. A Chinese H-6K bomber flies over the Bashi Strait, September 12, 2016. A Chinese H-6K bomber. China's air force has released promotional footage of H-20 models that look similar to the US's B-2 stealth bomber.
Persons: Charles Q, Brown, Guo Wei, it's, Xi Jinping, Lyle Goldstein, Goldstein, Rand, They've, 天下, Timothy Heath, Heath Organizations: Service, Taiwan's Ministry of Defense, US Air Force, Pacific Air Forces, Rand Corporation, Getty, Defense, Pentagon, PLA, Russia, Russian Defense Ministry Press Service, AP, YouTube Locations: China, Taiwan, China's, Japan, Philippines, Bashi Strait, Xinhua, Miyako, South, Paracel, Soviet, Asia, Guam, South Korea, Russian, Pacific, Beijing, Moscow
BEIJING—Local governments in China have long been weighed down by debts. Now Chinese leader Xi Jinping’s push for “common prosperity” is heaping more pressure on them—while removing some of their most reliable sources of income. Mr. Xi’s drive, which is aimed in part at narrowing the wealth gap in China, is rooted in an effort to address the rising costs of education, healthcare and housing—which are often referred to as the “three big mountains.”
Persons: Xi Jinping’s, Xi’s Locations: BEIJING, China
Chinese President Xi Jinping speaks at a meeting commemorating the 110th anniversary of Xinhai Revolution at the Great Hall of the People in Beijing, China October 9, 2021. REUTERS/Carlos Garcia RawlinsBEIJING, Jan 25 (Reuters) - China's President Xi Jinping met International Olympic Commission (IOC) President Thomas Bach in Beijing on Tuesday afternoon, just over a week before the Winter Games are due to kick off on Feb. 4 within a "closed-loop" bubble. He met Xi at a state guesthouse, according to a report from state media. "The two leaders discussed the strong support of the international community for the Olympic Winter Games Beijing 2022," it said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Gabriel Crossley; Editing by Raissa KasolowskyOur Standards: The Thomson Reuters Trust Principles.
Persons: Xi Jinping, Carlos Garcia Rawlins, Jan, Thomas Bach, Bach, Xi, Gabriel Crossley, Raissa Organizations: of, People, REUTERS, Carlos Garcia Rawlins BEIJING, Olympic Commission, IOC, Winter Games, Games, Thomson Locations: Beijing, China, United States, Britain, Canada, Australia, Japan, Denmark
In the last decade China has become Ecuador's primary financial partner, with crude for credit agreements, open credit arrangements and multi-million dollar investments in the mining industry and dams. "We are going to seek better terms and above all we are going to untie oil from debt payments to China, so that oil is freely available to the Ecuadorean government," Lasso told local radio. "That is the big challenge of this negotiation that I expect to start on this next visit to China." Register now for FREE unlimited access to Reuters.com RegisterLasso said he will seek to renegotiate $4.1 billion of Ecuador's debt to China with his counterpart President Xi Jinping. Ecuador has signed 16 contracts for crude with Asian oil companies which are tied to loans from Chinese banks, in conditions considered by analysts to be unfavorable to Ecuador.
Persons: Jan, Guillermo Lasso, Lasso, Xi Jinping, Italo Cedeno, Cedeno, Alexandra Valencia, Julia Symmes Cobb, Paul Simao Organizations: Reuters.com, Thomson Locations: QUITO, China, Ecuador
Carlos Garcia Rawlins | ReutersChina's zero-Covid policy and broader economic circumstances could be weighing on currencies that should be reaping the benefits of higher commodity prices, strategists at BMO Capital Markets have suggested. The Canadian dollar was also down 0.9% year-to-date, while the U.S. dollar had gained 0.55% against the Norwegian krone. Chinese demand European Head of FX Strategy Stephen Gallo suggested that ripple effects from China could be feeding into the performance of developed market commodity-based currencies. That has implications for both supply and demand, but it could conceivably be eating into China's demand for certain raw materials," Gallo said. Meanwhile Gallo suggested backing the euro to move lower against the Canadian dollar, a trade he said was supported by three key factors.
Persons: Xi Jinping, Carlos Garcia Rawlins, Brent, , Greg Anderson, Anderson, Stephen Gallo, Gallo, they've Organizations: Museum of, Communist Party of China, Reuters, BMO Capital Markets, Norwegian krone, Aussie, Canadian, U.S ., New Zealand, U.S . Federal, ., FX, Chilean Locations: Beijing, China, New Zealand, Europe, Norwegian, U.S
To democratically elected representatives of the country where Tesla was founded, he pays dust, but when it comes to China, Musk bends the knee to autocratic leadership. These issues, along with the fact that China is a growing portion of Tesla's business, means "China Elon" is always on his best behavior. If you are Elon Musk, that's what you're looking out for." "China Elon" has entered a dangerous game with Beijing. The spaceships and Twitter memes may get attention, but if you want to understand the future that Elon Musk is trying to shape, ignore his tough-guy persona in the US.
Persons: Elon Musks, Xi Jinping, , Tesla, Joe Biden, James Milward, Han, Republican Sen, Marco Rubio, Kenneth Roth, Elon, Elon Musk, Ying Yong, Vicky Bryan, Bond Angle, Musk, Bryan, China Elon, Tu Le, Le, there's, China that's, Desmond Shum, Shum, Beholden, he's Organizations: Elon, Wall, National Transportation Safety Board, Securities and Exchange, Apple, Nike, Chinese Communist Party, Labour Party, Human Rights, CCP, Tesla, Shanghai, Getty, EV, Sino, Beijing Locations: California, China, Shanghai, Xinjiang, Beijing, Europe, Washington, Georgetown, Texas, China's
Because of the coronavirus, foreign spectators, and even ordinary Chinese, are prevented from attending the Games. It will mostly be a performance for Chinese and international television audiences, offering a choreographed view of the country, the one Mr. Xi’s government has of itself. If the coronavirus can be kept under control, Beijing could weather the Olympics with fewer problems than seemed likely when it won the rights to the Games seven years ago. Mr. Xi’s government has already effectively declared it a success. “The world looks forward to China,” Mr. Xi said in an New Year’s address, “and China is ready.”
Persons: Minky Worden, , , ” Michael Payne, , ” Mr, Xi Organizations: Olympic, Beijing, Human Rights Watch, Games Locations: China, Xinjiang, Tibet, Hong Kong, Beijing
read moreHe drew widespread public sympathy after state media reported he was in Beijing and undertaking odd jobs to look for his son, who had been missing since 2020. The case spurred online discussions about inequality in China, an issue that last year led President Xi Jinping to call for achieving "common prosperity". Register now for FREE unlimited access to Reuters.com RegisterChinese police, however, said in a statement on Friday that Yue's son was found dead two weeks after his disappearance was reported. Reuters was unable to reach Yue but Yue's wife said in an telephone interview that she did not recognise the body Weihai police were referring to because it was highly decomposed. Register now for FREE unlimited access to Reuters.com RegisterReporting by Eduardo Baptista Editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.
Persons: Jan, Yue, COVID, Xi Jinping, Aguardar, Eduardo Baptista, Mark Heinrich Our Organizations: Twitter, Reuters.com Register, Reuters, China Weekly News, Thomson Locations: BEIJING, Weibo, Beijing, China, Weihai, Shandong, Henan province
China Cuts Benchmark Rates to Bolster Flagging Economy
  + stars: | 2022-01-20 | by ( Jonathan Cheng | ) www.wsj.com   time to read: 1 min
BEIJING—China’s central bank lowered its benchmark lending rates, stepping in to support a slowing economy that has been weighed down by a slump in the property market during a politically important year for leader Xi Jinping. The People’s Bank of China said Thursday that it cut its five-year loan prime rate, a benchmark for medium- and longer-term loans including mortgages, to 4.60% from 4.65%—the first such cut since April 2020. The Chinese central bank also lowered the one-year loan prime rate by 10 basis points to 3.70%, the second cut to that rate in as many months.
Persons: Xi Jinping Organizations: BEIJING, People’s Bank of China
London (CNN Business) It's been a year since President Joe Biden took the reins at the White House. The S&P 500 has increased nearly 18% since Biden took office on January 20, 2021, hitting a slew of new record highs along the way. Big picture: The strong first year of the Biden era adds to a run of market success under Democratic presidents — despite concerns about higher taxes. Biden noted that Americans are seeing rapid price increases at grocery stores, at the gas pumps and elsewhere. That means the price hike could give its rivals room to raise their own prices at some point.
Persons: It's, Joe Biden, Biden, Dow, Trump, Trump's, Powell, Laura He, Xi Jinping, there's, Andrew Hare, Magid, Hare, I'm, Frank Pallotta, Peacock, HBO Max, Baker Hughes Organizations: CNN Business, Bell, CNN, White, Dow, Democratic, Biden, Federal Reserve, People's Bank of China, Netflix, Disney, HBO, American Airlines, Travelers and Union Pacific, Schlumberger Locations: London, China
BEIJING, Jan 20 (Reuters) - The story of a migrant worker in Beijing who caught COVID-19 while searching for his missing son provoked shock and sympathy on social media on Thursday, drawing attention to the hardships faced by the floating population in China's big cities. His frequent and wide-ranging movements around the city, at odd hours, were widely discussed online. Yue, who is being treated in a Beijing hospital, told China News Weekly that since his son's disappearance in August 2020 he had worked in several provinces searching for him. In Beijing, Yue earns around 200 to 300 yuan ($31.53-$47.29) per shift and sleeps four to five hours a day. A police station in Rongcheng told local media that it was investigating.
Persons: Jan, COVID, Yue, Xi Jinping, Yue Yuetong, Yue's, Eduardo Baptista, Albee Zhang, Tony Munroe, Simon Cameron, Moore Organizations: Social, Twitter, China News Weekly, China, Beijing, Reuters, Thomson Locations: BEIJING, Beijing, China's, Chaoyang district, China, China's Henan, Rongcheng, Shandong province
Speaking in Australia, British Foreign Secretary Liz Truss will say the West must respond together to global threats, deepen ties with democracies in the Indo-Pacific and "face down global aggressors". The West, Truss said, should work with allies such as Australia, Israel, India, Japan and Indonesia to "face down global aggressors", especially in the Pacific. Russian officials say the West is riddled with division, gripped by Russophobia and has no right to lecture Moscow on how to act. Amid heightened tensions over Ukraine, the West is trying to work out what to do if Russia invades its neighbour. The U.S.-led war in Afghanistan from 2001 to 2021 led to over 3,500 deaths among the international military coalition.
Persons: Jan, Vladimir Putin, Xi Jinping, Liz Truss, Truss, Putin, Brown, Guy Faulconbridge Organizations: SYDNEY, British, Lowy Institute, Institute ., Thomson Locations: Britain, China, Russia, Australia, Sydney, Belarus, North Korea, Myanmar, Moscow, Beijing, Israel, India, Japan, Indonesia, Crimea, Ukraine, West, Soviet, Chechnya, Afghanistan, U.S, Pakistan, London
BEIJING, Jan 19 (Reuters) - China will force key industrial sectors and regions to take action to measure greenhouse gas emissions as part of a new initiative to improve data quality and oversight, according to an environment ministry document reviewed by Reuters. Under the pilot programme, some of China's biggest coal-fired power providers, steel mills and oil and gas producers must draw up comprehensive new greenhouse gas monitoring plans by the end of this year. "Expanding the emission monitoring and disclosure that is currently in place for air pollutants to CO2 would be a huge step forward." According to the policy document, dated September 2021 and supplied to Reuters by the Ministry of Ecology and Environment (MEE), the new monitoring programme aims to provide "statistical support" for the country's fight against climate change. But up to now there has been no legal requirement for firms to measure greenhouse gas.
Persons: Jan, Xi Jinping, Lauri Myllyvirta, Ma Jun, Consultancy Frost, Ma, Muyu Xu, David Stanway, Florence Tan, Richard Pullin Organizations: Reuters, Research, Energy, Clean, State Council, Ministry, Ecology, China Petrochemical Corp, China National Petroleum Corp, Shandong Energy Corp, Institute of Public, Environmental Affairs, ETS, Consultancy, Sullivan, Thomson Locations: BEIJING, China, Helsinki, Europe, Tangshan, Hangzhou, Mongolia, Yunnan
NGO Safeguard Defenders said Beijing has been sending agents overseas to illegally intimidate targets. Its report on "Operation Sky Net" shows the extent of China's clandestine operations in other countries. Official data from China suggests nearly 10,000 fugitives have been returned since 2014 under a program codenamed "Operation Sky Net" or "Tian Wang," Safeguard Defenders noted. In 2020 alone, 1,421 fugitives were extradited to China by Sky Net, Chinese state media reported, touting the operation as an anti-graft campaign. In a similar case, Safeguard Defenders interviewed an activist helping the son of a human rights lawyer escape China into Myanmar.
Persons: Tian Wang, Fox Hunt Organizations: Defenders, Service, United, United Arab Emirates, Safeguard, Sky Net, Sky, Fox, Safeguard Defenders Locations: China, Beijing, Spain, Canada, Australia, Vietnam, Thailand, United Arab, New York, Chinese, Dubai, India, Myanmar
To ease the crisis, China ordered mines to boost coal production last fall. Meanwhile, prices in China for thermal coal — which is mainly used to generate electricity and provide heating — have shot higher in recent days. Analysts from Guotai Junan Securities, a major Chinese investment bank, attributed January's rebound in coal prices in part to a recent export ban on coal from Indonesia. The Guotai Junan analysts expect the demand for coal to remain strong this year, as China needs to stabilize economic growth, and coal power is critical to that plan, according to a research report on Tuesday. Earlier this week, China reported its GDP grew 8.1% in 2021, outstripping the government's own targets.
Persons: Xi Jinping, Xi, Li Yunqing Organizations: CNN Business, China's National Bureau of Statistics, Economic, Zhengzhou Commodity Exchange, National Development, Reform, Guotai Junan Securities Locations: Hong Kong, China, Zhengzhou, Beijing, Indonesia, Australia
Hong Kong (CNN Business) China keeps slashing lending rates as authorities ramp up their efforts to stave off a sharp economic slowdown . The central bank also trimmed its five-year loan prime rate by five basis points to 4.6%, the first cut to that rate since April 2020. China's loan prime rate is the rate at which commercial banks lend to their best customers, and it serves as the benchmark rate for other loans. Before Thursday, China's central bank had already been adjusting policy. Hang Seng Index HSI Shanghai Composite SHCOMP Nikkei N225 Kospi KOSPI Hong Kong'spulled higher on Thursday following the Chinese central bank's rate cuts.
Persons: Xi Jinping —, Yue, Organizations: CNN Business, People's Bank of China, HSI, Capital Economics, Nomura Locations: Hong Kong, China, China's, Beijing
SINGAPORE — Asia-Pacific markets were set to inch higher Tuesday following a quiet day on Wall Street where the U.S. markets were closed for a public holiday. Meanwhile, Nikkei futures pointed to a slightly higher open in Japan at the top of the hour. Global interest rates continue to climb on expectations of faster central bank tightening, according to Tapas Strickland, director for economics and markets at the National Australia Bank. The exception is China with the [People's Bank of China] cutting rates by 10bps yesterday amid an uncertain growth outlook," he wrote in a Tuesday morning note. Chinese President Xi Jinping cautioned against a rapid rise in interest rates on Monday that could derail the global recovery from the coronavirus pandemic.
Persons: Tapas Strickland, Xi Jinping, Xi Organizations: Nikkei, National Australia Bank, Fed, People's Bank of Locations: SINGAPORE — Asia, Pacific, Japan, China, People's Bank of China, videoconference, Davos
Demographic flatline will test China’s generosity
  + stars: | 2022-01-18 | by ( Yawen Chen | ) www.reuters.com   time to read: +3 min
REUTERS/Carlos Garcia RawlinsHONG KONG, Jan 18 (Breakingviews) - China’s population may have peaked in 2021, far earlier than expected. Natural population growth slumped to merely 0.034% in 2021, compared to 0.145% a year earlier, meaning the country of 1.4 billion people saw a population increase of under half a million. Such incentives will have a marginal impact on young people in China’s biggest cities who are shunning procreation because of work stress or a new sense of independence. Follow @ywchen1 on TwitterCONTEXT NEWS- Mainland China’s population increased by about 480,000 people to 1.4126 billion in 2021, according to data from the National Statistics Bureau released on Jan. 17. - The natural growth rate of China's population, which excludes migration, was only 0.034% for 2021, the data shows.
Persons: Carlos Garcia Rawlins, Jan, Xi Jinping, Ren, Yi Fuxian, Una Galani, Katrina Hamlin Organizations: REUTERS, Party Congress, Soochow Securities, National Statistics, Reuters Locations: Beijing, China, Carlos Garcia Rawlins HONG KONG, Panzhihua, China’s
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