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☆ Maersk CEO: We have yet to see the full rebound in China's consumer market
▼ + stars: | 2023-03-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMaersk CEO: We have yet to see the full rebound in China's consumer marketVincent Clerc, CEO of Maersk gives his assessment of global economic recovery at the sideline of China Development Forum.

☆ China Development Forum: Li Qiang rolls out the welcome wagon for foreign companies
▼ + stars: | 2023-03-28 | by ( Laura He | ) edition.cnn.com time to read: +4 min

“China’s economy has been deeply integrated into the global division of labor.”Li pledged that the country will align with international economic and trade rules, give equal treatment to foreign investment and facilitate trade and investment by removing government controls. Worries about foreign investmentConcerns about foreign capital leaving China have grown. To boost business confidence, China’s new economic leadership is trying to reassure foreign business and the domestic private sector. “You are not foreigners, but family,” Wang Wentao, the commerce minister, told attendees at the China Development Forum. In a meeting with Cook on Monday, he said China is willing to “provide a good environment and services” for foreign enterprises including Apple.

☆ U.S.-China relations are going downhill with ‘no trust’ on either side, Stephen Roach says
▼ + stars: | 2023-03-28 | by ( Sumathi Bala | ) www.cnbc.com time to read: +5 min

US President Joe Biden and China's President Xi Jinping (L) shake hands as they meet on the sidelines of the G20 Summit in Nusa Dua on the Indonesian resort island of Bali on November 14, 2022. "Right now, there is no trust," he told "Squawk Box Asia" on Tuesday, who is currently attending the China Development Forum in Beijing. watch now"The balloon was a spark that really put us on a swift downhill descent," Roach added. The office did not provide details of her itinerary while in the U.S. On Taiwan, China has repeatedly said the issue is an internal affair. Every single Taiwan president in recent memory has done this," White House National Security Council spokesman John Kirby, said at a press briefing last week.

☆ Jack Ma returned to China to visit a private school he founded, 2 years after he first vanished from public view amid Beijing's tech crackdown
▼ + stars: | 2023-03-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

On Monday, Alibaba co-founder Jack Ma visited a private school he founded in Hangzhou, China. Ma first vanished from public view after angering authorities in 2020 amid Beijing's tech crackdown. The private school caters to students from kindergarten to high school. Ma returned to China amid signals that Beijing may be taking a friendlier stance toward private enterprises after more than two years of a widespread tech crackdown. His visit follows a top Chinese central banker's comments in January that Beijing's tech crackdown was coming to a close.

☆ US corporates and China hug awkwardly in Beijing
▼ + stars: | 2023-03-27 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +4 min

The final quarter saw a slight rebound, but American FDI into China has been slowing for years. Despite their suspicions of the U.S. government, Chinese officials don’t want American capitalists to stop investing in the country because their firms create jobs, bring technology and best practices. Anecdotal evidence suggests even in harmless industries like textiles and market research, decoupling is becoming the default American investment thesis. If China surprises by dramatically boosting internal demand, U.S. executives and their shareholders will be placated. Cook is in Beijing to attend the China Development Forum, a flagship investment conference organised by the government and held March 25-27.

Pfizer CEO Albert Bourla speaks during the China Development Forum in Beijing on March 25, 2023. BEIJING — U.S. pharma giant Pfizer has signed an agreement with China to cooperate on improving the country's health coverage, according to the company. China in 2016 announced a "Healthy China 2030" plan for improving the country's public health services, medical industry and food and drug safety. The Covid-19 pandemic also highlighted shortfalls in China's still-developing public health system. Pfizer's memorandum of understanding with the Health China Research Center is set to support public health research and improve the health of rural populations, according to details released by Chinese state media.

☆ Apple CEO Tim Cook meets with China's commerce minister on supply chain
▼ + stars: | 2023-03-27 | by ( Rohan Goswami | ) www.cnbc.com time to read: +1 min

Tim Cook, chief executive officer of Apple Inc., speaks during a "First Tool-In" ceremony at the TSMC facility under construction in Phoenix, Arizona, US, on Tuesday, Dec. 6, 2022. Apple CEO Tim Cook met with China's minister of commerce, Wang Wentao, on Monday to discuss industrial and supply chain stabilization, according to a statement from the Ministry of Commerce. "The two sides exchanged views on issues such as Apple's development in China and the stabilization of the industrial and supply chains," the statement from China's Ministry of Commerce read. Cook and Wang's meeting comes after months of lockdowns and Covid restrictions in China. "China will unswervingly promote high-level opening-up, steadily promote rules, regulations, management, standards and other institutional opening-up," the statement from Wang's ministry read.

☆ IMF chief warns of 'risks to financial stability' at China Development Forum
▼ + stars: | 2023-03-27 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

“Risks to financial stability have increased,” IMF Managing Director Kristalina Georgieva said during remarks at the China Development Forum in Beijing. Last week, concerns about Deutsche Bank and speculation over one of its bond payments also weighed on markets, prompting EU leaders to reassure the public over the resilience of Europe’s banking system. But it would still be a significant improvement on the 3% logged by the world’s second-largest economy last year — and help prop up the global economy. China’s rebound this year will allow it to contribute roughly one third of global growth, according to Georgieva. But the IMF chief urged Chinese policymakers to take steps to shift its economy and “rebalance” it toward more consumption-driven growth.

☆ U.S. corporate leaders gather in Beijing for the 2023 China Development Forum
▼ + stars: | 2023-03-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. corporate leaders gather in Beijing for the 2023 China Development ForumCNBC's Eunice Yoon and Brian Sullivan join 'The Exchange' to report on the latest news about China.

☆ U.S. CEOs in China feel they can balance geopolitical and reputation risks, says Dewardric McNeal
▼ + stars: | 2023-03-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. CEOs in China feel they can balance geopolitical and reputation risks, says Dewardric McNealDewardric McNeal, Longview Global and CNBC contributor, joins CNBC's "Fast Money" to discuss U.S. CEOs gathering in Beijing for the China Development Forum.

☆ Chinese commerce minister in talks with Apple boss Tim Cook
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

BEIJING, March 27 (Reuters) - Chinese commerce minister Wang Wentao met Apple (AAPL.O) CEO Tim Cook on Monday and exchanged views on the company's development in China, the commerce ministry said. The two talked about stabilising industrial and supply chains, the ministry said, adding that Wang told Cook China is willing to provide a good environment and services for foreign companies including Apple. Cook was in Beijing over the weekend to attend the government-organised China Development Forum. Wang told Cook that China unswervingly promotes a high-level opening-up of rules, regulations, management, standards and other systems, the ministry added. Reporting by Beijing newsroom Writing by Bernard Orr Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ The IMF's boss has called for vigilance as risks to financial stability rise after bank turmoil
▼ + stars: | 2023-03-27 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +3 min

IMF chief Kristalina Georgieva has warned of another tough year ahead for the world economy, amid increased risks to financial stability. "Uncertainty is high which underscores the need for vigilance," Georgieva said. "Uncertainty is high which underscores the need for vigilance," Georgieva said. "Policymakers have acted decisively in response to financial stability risks, and advanced economy central banks have enhanced the provision of U.S. dollar liquidity. These actions have eased market stress to some extent, but uncertainty is high which underscores the need for vigilance."

☆ IMF says risks to financial stability have increased, calls for vigilance
▼ + stars: | 2023-03-26 | by ( ) www.cnbc.com time to read: +2 min

'Think of the unthinkable': IMF chief warns world is a very different place after crises like Covid. International Monetary Fund chief Kristalina Georgieva said on Sunday that risks to financial stability have increased and called for continued vigilance although actions by advanced economies have calmed market stress. The IMF, which has predicted global growth of 2.9% this year, is slated to release new forecasts next month. Georgieva said policymakers in advanced economies had responded decisively to financial stability risks in the wake of bank collapses but even so vigilance was needed. Doing so, she said, could reduce carbon dioxide emissions by 15% over the next 30 years, resulting in a fall in global emissions of 4.5% over the same period.

☆ Foundation of China's economic recovery not solid enough, party official says
▼ + stars: | 2023-03-25 | by ( ) www.cnbc.com time to read: +2 min

The foundation of China's economic recovery is not solid enough, a senior Communist Party official said on Saturday, warning of possible spillover effects from global economic problems. "The foundation of China's economic recovery is not yet solid enough," Han said. Recent economic data has shown that China's economy picked up from COVID-19 slumps after the government abandoned its zero-COVID strategy late last year. China is confident of reaching its annual economic growth target of around 5%, Han said. Han also said China would continue to expand market access and welcome foreign investment into the world's second largest economy.

☆ Apple CEO praises China's innovation, long history of cooperation on Beijing visit
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, March 25 (Reuters) - Apple (AAPL.O) CEO Tim Cook on Saturday used his first public remarks on his visit to China to praise the country for its rapid innovation and its long ties with the U.S. iPhone maker, according to local media reports. Apple (AAPL.O) CEO Tim Cook on Saturday used his first public remarks in China in recent years to praise the country for its rapid innovation and its long ties with the U.S. iPhone maker, according to local media reports. "Innovation is developing rapidly in China and I believe it will further accelerate," Cook was quoted by The Paper news outlet as saying. Last year, production at the world’s largest iPhone factory run by Apple supplier Foxconn was heavily disrupted after China's zero-COVID policies fuelled worker unrest. Cook also visited an Apple Store in Beijing on Friday, pictures of which went viral on Chinese social media.

☆ Apple CEO Tim Cook praises China's innovation, long history of cooperation on Beijing visit
▼ + stars: | 2023-03-25 | by ( ) www.cnbc.com time to read: +1 min

The world's biggest iPhone factory, located in China and run by Foxconn, faced disruptions in 2022. Apple CEO Tim Cook on Saturday used his first public remarks on his visit to China to praise the country for its rapid innovation and its long ties with the U.S. iPhone maker, according to local media reports. "Innovation is developing rapidly in China and I believe it will further accelerate," Cook was quoted by The Paper news outlet as saying. Last year, production at the world's largest iPhone factory run by Apple supplier Foxconn was heavily disrupted after China's zero-Covid policies fueled worker unrest. Cook also visited an Apple Store in Beijing on Friday, pictures of which went viral on Chinese social media.

The last time Cook visited China was in 2019. We also have a thriving App Store,” the Apple chief was quoted as saying in state-run China Daily. On Friday, Cook had posted a picture of himself smiling with customers and staff at the Apple store in the shopping district of Sanlitun on China’s Twitter-like social media site Weibo. “TikTok CEO was under siege at the US hearing, while Apple CEO was enthusiastically welcomed by people at its flagship Chinese store. China’s commerce ministry said Thursday that a forced sale of TikTok would “seriously damage” global investors’ confidence in the United States.

☆ Chinese Authorities Raid Office of U.S. Investigations Firm Mintz Group
▼ + stars: | 2023-03-24 | by ( James T. Areddy | ) www.wsj.com time to read: 1 min

The closed office of the Mintz Group in a Beijing office building on Friday. The due diligence firm said five Chinese nationals employed in the office were detained without notice. NEW YORK—Authorities this week raided the Beijing offices of Mintz Group, detaining all five of the New York-based due diligence company’s staff members in mainland China, an incident likely to unnerve global businesses operating in the country. The move comes as the heads of multinational companies including Apple Inc. and Pfizer Inc. are due to arrive in Beijing to meet with top Chinese officials. This weekend’s China Development Forum will be the first to be held fully in-person since the Covid-19 pandemic broke out, and is just weeks after Beijing installed a slate of new government leaders as it signals fresh efforts to boost foreign investment.

☆ U.S. Executives Will Keep Low Profile at China Forum Amid Tensions
▼ + stars: | 2023-03-24 | by ( Lingling Wei | ) www.wsj.com time to read: 1 min

With Washington and Beijing embroiled in an intensifying great-power competition, multinational companies increasingly find themselves between a rock and a hard place. Ahead of this weekend’s China Development Forum in Beijing, the mood among the more than 50 CEOs and other senior executives from the U.S. and other countries expected to attend the high-level conference was a mix of anxiety and caution, said people close to the event.

☆ US due diligence firm Mintz Group says staff detained in China after office raid
▼ + stars: | 2023-03-24 | by ( Michael Martina | ) www.reuters.com time to read: +3 min

WASHINGTON, March 23 (Reuters) - U.S. corporate due diligence firm Mintz Group said on Thursday its Beijing office was raided by authorities and five Chinese staff were detained, stoking worry among foreign companies in China just as its capital hosts an international economic forum. "We can confirm that Chinese authorities have detained the five staff in Mintz Group's Beijing office, all of them Chinese nationals, and have closed our operations there," the company said in an emailed statement to Reuters. "Mintz Group has not received any official legal notice regarding a case against the company and has requested that the authorities release its employees," the company said. 'RED ALERTS'As per Mintz Group's website, the Beijing office is its only one in mainland China. Western due diligence companies have gotten into trouble with Chinese authorities before.

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