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Chinese Yuan and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The surge in their borrowing from Chinese banks has catapulted the yuan past the euro into becoming the second-biggest currency used in global trade finance, providing a fillip to Beijing's ambitions to internationalize the yuan. "Panda bonds are steadily promoting the renminbi's function as a funding currency", the People's Bank of China (PBOC) said a report last month. German automaker Volkswagen Group (VOWG_p.DE) told Reuters it will use its inaugural 1.5 billion yuan panda bond proceeds only for its onshore China business. ($1 = 7.2421 Chinese yuan renminbi)Reporting by Samuel Shen and Rae Wee Editing by Vidya Ranganathan and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Yuan, Dado Ruvic, Fiona Lim, Lim, SWIFT, Mercedes, Yuan internationalisation, Mark Williams, It's, Maybank's Lim, Williams, Samuel Shen, Rae Wee, Vidya Ranganathan, Kim Coghill Organizations: REUTERS, Rights, BMW, Crédit Agricole S.A, National Bank of Canada, People's Bank of China, Standard Chartered Bank, Bank of China's, Volkswagen Group, Reuters, Benz Group, Capital Economics, Thomson Locations: Rights SHANGHAI, SINGAPORE, China, Hong Kong, Asia, Russia, Argentina, Pakistan, Nigeria

The drop, potentially its biggest one-day fall in more than a year, wiped about $20 billion off the Chinese tech giant's market value. It was the first market reaction in Asia since the stunning strategy reversal was announced late on Thursday. "The cancellation of a full spin-off of AliCloud is a negative surprise," said Nomura analyst Shi Jialong in a note. The company said it will press ahead with a listing of Alibaba's logistics arm, Cainiao, which applied for a Hong Kong initial public offering in September. Reporting By Donny Kwok and Josh Ye in Hong Kong, Casey Hall and Gu Li in Shanghai; Writing by Anne Marie Roantree and Brenda Goh; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Group's, Nomura, Shi Jialong, Alibaba, Jack Ma, Kenneth Fong, Joseph Tsai, Bo Pei, Eddie Wu, Donny Kwok, Josh Ye, Casey Hall, Gu Li, Anne Marie Roantree, Brenda Goh, Muralikumar Organizations: Artificial Intelligence, REUTERS, Hong, Tencent Holdings, HK, UBS, Tiger Research, Thomson Locations: Shanghai, China, HONG KONG, SHANGHAI, HK, Hong Kong, Asia, AliCloud, Washington, U.S, Hangzhou, Alibaba

Alibaba Group's Hong Kong shares closed down 10%, their biggest single-day drop in more than a year. Some analysts said keeping the cloud unit could assist Alibaba's AI push. But (it) also points to the increasing importance of retaining the cloud unit given the surging demand for AI computing in China," said US Tiger Research analyst Bo Pei. Alibaba reported second-quarter revenue of 224.79 billion yuan ($31.01 billion), in line with the 224.32 billion expected by analysts, LSEG data showed. The company also said it will press ahead with a listing of Alibaba's logistics arm, Cainiao, which applied for a Hong Kong initial public offering in September.

Persons: Group's, Jon Withaar, Alibaba, Joseph Tsai, Aly, Jack Ma, Kenneth Fong, Bo Pei, Eddie Wu, Daniel Zhang, Vey, Sern Ling, Donny Kwok, Josh Ye, Casey Hall, Gu Li, Yelin, Ankur Banerjee, Anne Marie Roantree, Brenda Goh, Muralikumar Anantharaman Organizations: HK, Pictet Asset Management, Tencent Holdings, Artificial Intelligence, REUTERS, UBS, Tiger Research, Union Bancaire, Hong, Thomson Locations: HONG KONG, China, Hong Kong, Asia, U.S, Singapore, Washington, Hangzhou, Shanghai, Alibaba, Union, Yelin Mo, Beijing

BEIJING, Nov 17 (Reuters) - China's commerce minister expressed concern over U.S. curbs on semiconductor exports to China, as well as sanctions on Chinese firms and tariffs on Chinese imports, when he met U.S. Commerce Secretary Gina Raimondo on Thursday, his ministry said Friday. "Wang Wentao expressed concern about the final rules of the U.S. semiconductor export controls against China, sanctions against Chinese companies, two-way investment restrictions, and Section 301 tariffs," according to China's commerce ministry. Two-way trade hit a record $690 billion last year, as U.S. demand for Chinese consumer goods rose and Beijing's demand for U.S. farm products and energy grew. This year is off to a significantly slower pace, however, with two-way trade flows through September down $104 billion, or 19%, from the first nine months of 2022, according to U.S. Census Bureau data. Wang and Raimondo also agreed to hold the first meeting of a commerce working group at the vice minister level in the first quarter of 2024, China's commerce ministry said.

Persons: Gina Raimondo, Wang Wentao, Raimondo, Joe Biden, Trump, Wang, Joe Cash, Christopher Cushing, Mark Potter Organizations: U.S, Commerce, Southeast, China, Census, Thomson Locations: BEIJING, China, San Francisco, Southeast Asia, U.S, Canada, Mexico

☆ Philippines' Marcos, China's Xi to discuss tensions, way forward in South China Sea
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

Ferdinand Marcos Jr. President of the Philippines attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S., November 15, 2023. Manila refers to the part of the South China Sea that it claims as the West Philippine Sea. Marcos said he also discussed South China Sea issues with U.S. Vice President Kamala Harris. China claims sovereignty over nearly the entire South China Sea, pointing to a line on its maps that cuts into the exclusive economic zones of Vietnam, the Philippines, Malaysia, Brunei and Indonesia. The Philippines' foreign ministry on Thursday committed to continue resupply missions and an "upkeep" of a grounded navy ship in a disputed South China Sea atoll, saying it does not have to give prior notice to China.

Persons: Ferdinand Marcos Jr, Carlos Barria, Xi Jinping, Marcos, Xi, Kamala Harris, Neil Jerome Morales, Shri Navaratnam, Michael Perry Organizations: Economic Cooperation, REUTERS, Rights, APEC, South China, West, U.S, The, of Foreign Affairs, Thomson Locations: Philippines, Asia, San Francisco , California, U.S, Rights MANILA, San Francisco, South China, West Philippine, Manila, South, China, China's, Vietnam, Malaysia, Brunei, Indonesia, Taiwan, Beijing

☆ Philippines' Marcos Meets China's Xi to Find Ways to Reduce South China Sea Tensions
▼ + stars: | 2023-11-17 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

By Neil Jerome MoralesMANILA (Reuters) -Philippine President Ferdinand Marcos Jr met with Chinese President Xi Jinping on Saturday, seeking ways to come up with ways to reduce tensions in the South China Sea and restore Filipino fishermen's access to fishing grounds. The Philippines and China need to continue to communicate, with the meeting a key part of the process to maintain peace, and keep open sea lanes and airways over the South China Sea, Marcos told reporters on the sidelines of the APEC Summit in San Francisco. "We tried to come up with mechanisms to lower the tensions in the South China Sea," Marcos said, without elaborating. Marcos granted the United States greater access to its military bases, including in provinces facing the South China Sea and democratically-ruled Taiwan, drawing the ire of Beijing. China claims almost the entire South China Sea, ignoring a 2016 ruling by the Permanent Court of Arbitration that invalidated Beijing's expansive claim.

Persons: Neil Jerome Morales MANILA, Ferdinand Marcos Jr, Xi Jinping, Marcos, Xi, Neil Jerome Morales, Kim Coghill Organizations: APEC, coastguard, Sea Locations: Philippine, South, Philippines, China, South China, San Francisco, United States, Beijing, Taiwan, China's, Manila

☆ Xi revealed the extent of China's economic woes by the speed at which he caved to some of Biden's demands
▼ + stars: | 2023-11-17 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

China's Xi Jinping and President Joe Biden had their first meeting in a year this week. Xi entered the talks in an unfamiliar position of weakness amid China's economic woes. It was a stark contrast to recent public remarks by the Chinese president, where he sought to blame crises and conflicts across the globe on US meddling. The New York Times noted just how quickly Xi agreed to the demands, with previous US-China deals brokered after days of painstaking diplomatic negotiations. Though Xi is hoping for a short-term decrease in tensions, Chinese economic woes are unlikely to have altered his long-term calculations.

Persons: China's Xi Jinping, Joe Biden, Xi, —, Xi Jinping, Biden, Patricia Kim, Nancy Pelosi's, he'd, Robert Daly, Wilson, Vladimir Putin Organizations: Service, APEC, Center for East Asia Policy Studies, Biden, UAE ., New York Times, Associated Press, Institute, Russian, The New York Times Locations: San Francisco, China, United States, UAE, Taiwan, Beijing, Russia, Ukraine, East, Iran, Gaza, Washington

☆ Philippines rejects China's call for prior notice on resupply missions
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

"We are being asked to give prior notification each time we conduct a resupply mission to Ayungin Shoal. China claims sovereignty over nearly the entire South China Sea, pointing to a line on its maps that cuts into the EEZs of Vietnam, the Philippines, Malaysia, Brunei and Indonesia. The Permanent Court of Arbitration in 2016 said the line on China's maps had no legal basis, which Beijing rejects. "The Philippines has not entered into any agreement abandoning its sovereign rights and jurisdiction over its EEZ and continental shelf, including in the vicinity of Ayungin Shoal," Daza said. The Second Thomas Shoal lies 190 km (118 miles) off the Philippine island of Palawan, or well within the Manila's EEZ.

Persons: Thomas, Teresita Daza, Lloyd Austin, harassments, Daza, Thomas Shoal, Mikhail Flores, Neil Jerome Morales, Raju Gopalakrishnan Organizations: BRP, BRP Sierra Madre, Rights, of Foreign Affairs, US, Manila, Thomson Locations: BRP Sierra, South China, Rights MANILA, Philippines, China, Manila, Vietnam, Malaysia, Brunei, Indonesia, Taiwan, Beijing, Jakarta, Sierra, Ayungin, Philippine, Palawan

☆ Lawmakers want to know if China had anything to do with Apple's decision to cancel Jon Stewart's show
▼ + stars: | 2023-11-16 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Apple was asked by a House committee to explain its decision to cancel Jon Stewart's show. "The Problem with Jon Stewart," which streams on Apple TV+, was canceled last month. AdvertisementLawmakers have asked Apple to explain why "The Problem with Jon Stewart" was recently canceled. AdvertisementAfter being told he must be "aligned" with the company on topics, Stewart and Apple decided to go their separate ways. "If Jon Stewart can potentially be impeded from offering commentary on the CCP, what does this mean for less prominent personalities?".

Persons: Apple, Jon Stewart's, Jon Stewart, —, Tim Cook, Stewart, Ding Xuexiang Organizations: Apple, Chinese Communist Party, Service, New York Times, Communist Party, CCP, Getty, Business Locations: China, Beijing, Xinhua

☆ Real estate made China rich. Now it's looking more like kryptonite.
▼ + stars: | 2023-11-16 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

It’s a sign a key engine for the world’s second-largest economy is still sputtering, despite Beijing’s stimulus packages. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChina's property crash worsened last month in a sign the world's second-largest economy is still facing headwinds despite recent government interventions. Evergrande serves as a case in point for how an industry that contributed to China's economic boom for decades has turned into a point of weakness. That's a sign investors are looking past US president Joe Biden's San Francisco summit with Chinese premier Xi Jinping and zeroing back in on China's economic struggles, according to analysts.

Persons: —, That's, that's, Evergrande, Hui Ka Yan, Joe Biden's, Xi Jinping, Hargreaves, Susannah Streeter, Joe Biden Organizations: Service, National Bureau, Statistics, Bloomberg, Cato Institute, CSI Locations: China, Beijing, Chinese, Joe Biden's San Francisco

[1/2] Chinese President Xi Jinping speaks during a bilateral meeting with U.S. President Joe Biden at Filoli estate on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, in Woodside, California, U.S., November 15, 2023. REUTERS/Kevin Lamarque Acquire Licensing RightsWOODSIDE, California, Nov 15 (Reuters) - Chinese President Xi Jinping told U.S. President Joe Biden during their four-hour meeting on Wednesday that Taiwan was the biggest, most dangerous issue in U.S.-China ties, a senior U.S. official told reporters. Xi was trying to indicate that China is not preparing for a massive invasion of Taiwan, but that does not change the U.S. approach, the official said. "President Biden responded very clearly that the long-standing position of the United States was ... determination to maintain peace and stability," the official said. "President Xi responded: look, peace is ... all well and good but at some point we need to move towards resolution more generally," the official said.

Persons: Xi Jinping, Joe Biden, Kevin Lamarque, Xi, Biden, Washington, Jeff Liu, Liu, Trevor Hunnicutt, Jeff Mason, Ben Blanchard, Andrea Shalal, Sandra Maler, Stephen Coates, Tom Hogue Organizations: U.S, Economic Cooperation, REUTERS, Rights, Biden, Senior U.S, People's Liberation Army, Thomson Locations: Filoli, Asia, Woodside , California, U.S, Rights WOODSIDE , California, Taiwan, China, United States, Taiwan Strait, Taipei, Beijing

☆ Court auction to sell Shimao land in Shenzhen fails again
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

The logo of property developer Shimao Group is seen on the facade of Shimao Tower in Shanghai, China January 13, 2022. REUTERS/Aly Song/File Photo Acquire Licensing RightsHONG KONG, Nov 16 (Reuters) - A court auction to sell vast commercial land plots owned by defaulted Shimao Group (0813.HK) in Shenzhen failed for a second time on Thursday as there were no bidders, highlighting weak demand in China's property market. Twelve land plots totalling 243,602 square metres, together with some uncompleted buildings on them, have asked for 10.4 billion yuan ($1.4 billion), 20% lower than the 13 billion yuan starting price in the first auction in July, according to e-commerce company JD.com's (9618.HK) online auction platform. The Shenzhen plots were part of the land parcel bought by Shanghai-based Shimao in 2017, which planned to build a new landmark complex in China's tech hub with the city's tallest skyscraper. Media reports said the land plots, valued at 16.3 billion yuan, were the most valuable assets being auctioned by Chinese courts in seven years.

Persons: Aly, Clare Jim, Stephen Coates Organizations: Shimao, REUTERS, HK, Media, Authorities, Thomson Locations: Shanghai, China, HONG KONG, Shenzhen

Lai, vice president and the ruling Democratic Progressive Party's (DPP) presidential candidate, has almost consistently led opinion polls ahead of an election taking place amid increased Chinese pressure on Taiwan to accept Beijing's sovereignty claims. Vincent Chao, spokesperson for the Lai campaign, declined to comment on Hsiao's role but said an announcement on a running mate would be made on Monday. Randall Schriver, the former U.S. assistant secretary of defense for Indo-Pacific Security Affairs, described Hsiao as a "good partner in promoting U.S.-Taiwan relations." The DPP-led government says only Taiwan's people can decide their future, and has repeatedly offered talks with Beijing but been rebuffed. Like Lai, Hsiao is detested by China, which has on two occasions placed sanctions on her, most recently in April, saying she is an "independence diehard".

Persons: Lai Ching, Lai, Democratic Progressive Party's, Hsiao, Vincent Chao, Ivan Kanapathy, Randall Schriver, Chen Shui, Ben Blanchard, Yimou Lee, Michael Martina, Gerry Doyle Organizations: Democratic Progressive, APEC, Asia, U.S . National Security Council, Reuters, Georgetown University, Patriot, Pacific Security Affairs, U.S, DPP, Taiwan Affairs Office, Thomson Locations: TAIPEI, United States, Washington, Taiwan, San Francisco, U.S, Taipei, Ukraine, China, Beijing, Japan

TAIWANThe two leaders had a "substantial" discussion on Taiwan, with Xi telling Biden that Taiwan was the biggest, most dangerous issue facing the two superpowers, a senior U.S. official told reporters. LEADER TO LEADER TALKSBiden said he and Xi agreed to high-level communications. "He and I agreed that each one of us can pick up the phone call directly and we'll be heard immediately," Biden told reporters after the meeting. China and the United States should set an example for other countries, Xi told Biden, according to Chinese media, and promote cooperation on trade, agriculture, climate change and artificial intelligence. FENTANYLBiden and Xi agreed to cooperate on addressing the source of the opioid fentanyl, a leading cause of drug overdoses in the United States, the U.S. official said.

Persons: Joe Biden, Xi Jinping, Kevin Lamarque, China's Xi Jinping, Biden, Xi, Nancy Pelosi, Defense Lloyd Austin, we'll, Jeff Mason, Trevor Hunnicutt, Andrea Shalal, Heather Timmons, Stephen Coates Organizations: Economic Cooperation, REUTERS, Rights, Taiwan, U.S, Defense, Communist Party, Thomson Locations: Filoli, Asia, Woodside , California, U.S, San Francisco, TAIWAN, Taiwan, China, Beijing, United States, IRAN, Iran

☆ China's property sales extend declines, weighing on outlook
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Property sales by floor area fell 20.33% year-on-year against a 19.77% fall in September, according to Reuters calculations based on data released by the National Bureau of Statistics (NBS). Sales fell 7.8% year-on-year in January-October, compared with a 7.5% slide in the first nine months of 2023. Property investment fell 16.7% from a year earlier after an 18.7% slide in September, according to Reuters calculations. New construction starts measured by floor area fell 23.2% year-on-year, after a 23.4% slump in the first nine months. Funds raised by China's property developers were down 13.8% year-on-year after a 13.5% fall in January-September.

Persons: Thomas Peter, Ping, Liangping Gao, Ella Cao, Ryan Woo, Sam Holmes Organizations: REUTERS, Rights, National Bureau of Statistics, Authorities, Bloomberg, Reuters, HK, Ping An Insurance, Thomson Locations: Zhengzhou, Henan province, China, Rights BEIJING

☆ Biden, Xi meet as US-China military, economic tensions grind on
▼ + stars: | 2023-11-15 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +5 min

Biden and Xi arrived in San Francisco on Tuesday, where they were set to hold their meeting on the sidelines the Asia-Pacific Economic Cooperation (APEC) summit. Xi and Biden are expected to meet far from the conference location at a vast estate miles outside of San Francisco carefully chosen for its security, serenity and remoteness. [1/2]U.S. President Joe Biden disembarks from Air Force One at San Francisco International Airport, as he arrives to attend the APEC (Asia-Pacific Economic Cooperation) Summit in San Francisco, California, U.S., November 14, 2023. Xi, a decade Biden's junior, has tightened control over policy, state leaders, the media and military and changing the constitution. Biden is expected to tell Xi that U.S. commitments in the Indo-Pacific are unchanged.

Persons: Joe Biden, Xi Jinping, Xi, Biden, China's, Mao, San Francisco, John Kirby, Joe Biden disembarks, Brittany Hosea, Trevor Hunnicutt, Steve Holland, Michael Martina, Jeff Mason, Heather Timmons, Stephen Coates Organizations: FRANCISCO, Biden, Economic Cooperation, Communist Party, Air Force, San Francisco International Airport, APEC, REUTERS, Rights, Washington, Thomson Locations: Taiwan, South China, Israel, Ukraine, North Korea, San Francisco, Asia, United States, Northern California, San, San Francisco , California, U.S, Rights IRAN, Iran, Washington, China . U.S, China, Europe, Russia, Beijing, Taiwan Strait, East China, Philippines

☆ China's plan to seize on global chaos and supplant the US may be working
▼ + stars: | 2023-11-15 | by ( Tom Porter | ) www.businessinsider.com time to read: +8 min

China's Xi Jinping and President Joe Biden are meeting in San Francisco at the APEC summit. AdvertisementPresident Joe Biden seems keen to ease tensions with his main global rival, China's leader Xi Jinping, against a backdrop of global chaos and conflict. Russia's President Vladimir Putin and Chinese President Xi Jinping pose with heads of delegations participating in the Third Belt and Road Forum in Beijing on October 18, 2023. Sun, the Stimson Center expert, said Xi will be seeking to use the meeting to burnish his image as a global statesman and head off China's economic woes. But whatever agreements Xi brokers with the US president it's unlikely to change his core mission: Chinese global dominance.

Persons: China's Xi Jinping, Joe Biden, —, Xi Jinping, SERGEI, Jonathan Ward, Vladimir Putin, Biden, Xi, Putin, GRIGORY SYSOYEV, Ward, Yun Sun, Jeremy Chan, SAUL LOEB, Xi's, it's Organizations: APEC, Service, Economic Cooperation, Getty Images, Atlas Group, Russia's, Forum, Stimson Center, Eurasia Group, Getty Locations: San Francisco, China, Ukraine, Asia, East, Russia, Iran, Getty Images China, Beijing, Gaza, Israel, Palestine, Europe, Ethiopia, Argentina, Nusa Dua, Bali, Taiwan

According to the Pentagon's most recent report on China's military power, Beijing has “denied, canceled or ignored” military-to-military communications and meetings with the Pentagon for much of last year and this year. In an effort to improve transparency and communication, defense leaders from the two countries were meeting regularly. He and other defense chiefs, Joint Chiefs chairmen and regional high-level U.S. commanders routinely traveled to China over the next decade, and Chinese defense leaders came to the Pentagon. The Pentagon routinely complained that there was little tangible progress in the press for greater transparency in China’s military ambitions and its burgeoning defense budget. But the lack of communications heightened worries about an increase in what the Pentagon calls risky Chinese aircraft and warship incidents in the past two years.

Persons: Joe Biden, Xi Jinping, “, Robert Gates, ”, Chuck Hagel, Hagel, China's, Obama, Trump, Nancy Pelosi’s, Pelosi, Newt Gingrich, Carolyn Bartholomew, Bonnie Lin, ” Lin, Tara Copp Organizations: WASHINGTON, Economic Cooperation, Military Maritime, U.S, Pentagon, Defense Department, Chiefs, Yuchi, Pacific ., Beijing, The Defense Department, China Economic, Security, China, Center for Strategic, International Security, Associated Press Locations: Asia, San Francisco, China, Beijing, U.S, Singapore, South China, South, America's, Taiwan, Russia, Ukraine, Syria, Washington

☆ China retail sales, industrial data grow faster than expected in October
▼ + stars: | 2023-11-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

(Photo by Costfoto/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty ImagesBEIJING — China on Wednesday reported better-than-expected retail sales and industrial data for October, while the real estate drag worsened. Retail sales grew by 7.6% last month from a year ago, above the 7% growth forecast by a Reuters poll. watch nowWithin retail sales, sports and other leisure entertainment products saw sales surge by 25.7% in October from a year ago, the data showed. The International Monetary Fund last week cited Beijing's policy announcements as a reason to raise its China growth forecast for the year to 5.4%. Real estate and related sectors have accounted for about a quarter of China's gross domestic product.

Persons: Gita Gopinath Organizations: Getty, Nurphoto, Retail, Reuters, Investment, National Bureau of Statistics, Catering, Monetary Fund, IMF, CNBC, UBS Locations: CHONGQING, CHINA, Chongqing, China, BEIJING, Beijing

Terry Gou, the founder of Taiwan's Foxconn, makes a speech at Banqiao Cihui Temple in New Taipei City, Taiwan October 29, 2023. In a statement, Gou thanked his backers for their "enthusiastic support" and vowed to work hard to achieve "peace across the Taiwan Strait". While China's government has not confirmed the Foxconn investigation, Lai has assailed Beijing for targeting the firm. "Aren't we all waiting to see if Terry Gou will run until the end?" Foxconn says Gou no longer has anything to do with the company's day-to-day operations, though he remains its largest single shareholder.

Persons: Terry Gou, Taiwan's, Ann Wang, Gou, Lai Ching, Lai, detests Lai, Wellington Koo, Foxconn, Young Liu, Liu, Jeanny Kao, Yimou Lee, Ben Blanchard, Jacqueline Wong Organizations: REUTERS, Rights, Apple, Democratic Progressive Party, Taiwan's National Security Council, Thomson Locations: New Taipei City, Taiwan, Rights TAIPEI, Ukraine, China, Beijing

“President Biden this coming week will be doing a lot more than just meeting with President Xi,” White House national security adviser Jake Sullivan told reporters in Washington on Monday. White House officials say they are cognizant that fellow APEC nations want to see better dialogue between the U.S. and China because it reduces the risk of regional conflict. Biden on Monday welcomed Indonesian President Joko Widodo, a fellow APEC leader, to the White House for talks before both travel to San Francisco. Israel's retaliatory operations in Gaza have killed more than 11,000, sparking outrage from a slew of world leaders. The stopgap measure excludes the roughly $106 billion funding requested by Biden for Israel, Ukraine and the U.S. border with Mexico.

Persons: Joe Biden, Xi Jinping, Xi, what's, Biden, Russia's, “, Jake Sullivan, Donald Trump, Obama, ”, Neils Graham, Joshua Kurlantzick, TPP, Trump, Joko Widodo, “ We’re, Matt Murray, Fumio Kishida, Yoon Suk Yeol, Ferdinand Marcos, Jr, Mike Johnson, Sullivan, ” Sullivan, ___ Long, Josh Boak, Chris Megerian, Darlene Superville, Zeke Miller Organizations: FRANCISCO, Economic Cooperation, U.S, Republican, House, White, APEC, Economic Forum, Pacific Partnership, Atlantic Council GeoEconomics, Southeast, Council, Foreign Relations, Biden, Administration, Indonesian, The, Office, Georgetown University, Hamas, Associated Press Locations: Asia, Pacific, United States, San Francisco, China, Israel, Washington, Beijing, U.S, Southeast Asia, Japan, South Korea, Gaza, Indonesian, Ukraine, Japanese, South, Philippine, Philippines, South China, Mexico

☆ China's Tencent Music beats revenue estimates on paid subscriber growth
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

The logo of China's Tencent Music Entertainment Group is seen next to an earphone in this illustration picture taken March 22, 2021. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsNov 14 (Reuters) - China's Tencent Music Entertainment (1698.HK) beat estimates for third-quarter revenue on Tuesday, helped by steady growth in paid subscriptions on its music streaming platform. Tencent Music, which includes platforms such as QQ Music, Kugou Music, Kuwo Music and WeSing, has won listeners over by bundling everything from karaoke platforms to live concert streaming services. Total revenue of the Tencent Holdings Ltd-controlled (0700.HK) company, however, fell to 6.57 billion yuan ($900.9 million) in the third quarter. Net profit attributable to equity holders of the company rose to 1.71 billion yuan, from 1.06 billion yuan a year earlier.

Persons: Florence Lo, Harshita Mary Varghese, Akash Sriram, Pooja Desai Organizations: Entertainment, REUTERS, HK, Kugou, Tencent Holdings, Thomson Locations: Bengaluru

☆ Beijing Bishop Visits Hong Kong Amid Tensions Between China and Vatican
▼ + stars: | 2023-11-14 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

By Jessie Pang and Joyce ZhouHONG KONG (Reuters) - China's state-backed Bishop of Beijing visited Hong Kong on Tuesday amid fears among some Catholics that Beijing wants tighter control over religious affairs in Hong Kong. The visit is the first trip by a mainland Chinese bishop since the former British colony was returned to China in 1997 and follows a landmark visit to the Chinese capital by his Hong Kong counterpart in April. Hong Kong has traditionally been seen as a regional Catholic hub on the edge of the Chinese mainland under officially-atheist Communist Party rule. Hong Kong has 600,000 Catholics. Tensions between Beijing and the Vatican over the appointment of bishops saw a confidential pact struck in 2018.

Persons: Jessie Pang, Joyce Zhou HONG, Bishop, Pope, Bishop Joseph Li, Li, of Hong Kong Stephen Chow, Chow, Cardinal Joseph Zen, Zen, Tyrone Siu, Joyce Zhou, Michael Perry Organizations: Reuters, Hong, Hong Kong Catholic Cathedral, Hong Kong Liaison Office, Communist Party Locations: Joyce Zhou HONG KONG, Beijing, Hong Kong, China, of Hong Kong, Vatican, China . Hong Kong, Asia

☆ U.S.-China relations are now more about crisis prevention
▼ + stars: | 2023-11-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

It will be a rare summit before the U.S. presidential election cycle kicks off in earnest. "The immediate aftermath of the [Biden-Xi] meeting is likely to mark a cyclical high point for bilateral relations," he said. Taiwan is set to hold its presidential election in January, and a more pro-independence winner could stir more of Beijing's ire. Beijing considers Taiwan part of its territory, with no right to independently conduct diplomatic relations. The U.S. recognizes Beijing as the sole government of China but maintains unofficial relations with Taiwan, a democratically self-governed island.

Persons: Joe Biden, Xi Jinping, Kevin Lamarque, Biden, Michael Hirson, Trump, Xi, Gabriel Wildau, Antony Blinken, Chuck Schumer, Shen Yamei, Shen, Gina Raimondo, Lifeng, Janet Yellen, Teneo, Nancy Pelosi, Teneo's Wildau Organizations: Reuters, U.S, China Research, Research, D.C, Strategic, International, Biden, Republican, Democratic, American Studies, China Institute of International Studies, CNBC, U.S . Commerce, Treasury, U.S . House, Representatives, Economic Cooperation, China's Ministry of Commerce Locations: Bali , Indonesia, Reuters BEIJING, U.S, China, Taiwan, South China, Washington, Beijing, San Francisco, Gaza, Ukraine, Asia

☆ Yellen calls on APEC finance ministers to boost growth potential sustainably
▼ + stars: | 2023-11-13 | by ( ) www.cnbc.com time to read: +3 min

U.S. Treasury Secretary Janet Yellen called on Pacific Rim finance ministers on Monday to boost the productive capacity of their economies while working to finance the transition to low-carbon energy and provide more opportunities for the poor. Opening a meeting of finance ministers of Asia Pacific Economic Cooperation countries, Yellen said the group's economic dynamism meant that the actions they take matter for addressing global challenges. A day after the APEC Secretariat issued new forecasts for slowing growth next year amid a continued inflation fight and U.S.-China tensions, Yellen said the group needed to increase potential output. And we need to leverage emerging technologies to drive innovation while maintaining safe financial markets," Yellen added. The APEC finance ministers meeting comes just ahead of the APEC leaders' summit later this week and a high-stakes meeting between U.S.-President Joe Biden and Chinese President Xi Jinping aimed at easing tensions between the world's two largest economies.

Persons: Janet Yellen, Yellen, Joe Biden, Xi Jinping Organizations: Treasury, APEC, Economic Cooperation, Pacific Rim, Asia Pacific Economic Cooperation Locations: U.S, Asia, San Francisco , California, Pacific, China, Ukraine, Vietnam, Indonesia

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