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☆ In northeast China, Russian and Chinese firms ink deals from manufacturing to agriculture
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

Russian President Vladimir Putin shakes hands with Chinese President Xi Jinping during a meeting at the Belt and Road Forum in Beijing, China, October 18, 2023. Sputnik/Sergei Guneev/Pool via REUTERS/File Photo Acquire Licensing RightsBEIJING, Oct 23 (Reuters) - Chinese and Russian companies attending a regional conference in northeastern China signed a raft of cooperation deals on Monday in sectors ranging from manufacturing and logistics to e-commerce and agriculture, Chinese state media reported. The conference in Shenyang, the capital of Liaoning province, followed last week's meeting in Beijing between Russian President Vladimir Putin and China's President Xi Jinping. Russian local government officials, business representatives as well as nearly 800 Chinese companies hoping to enter the Russian market were attending the conference. In January to September, 40 Russian firms set up businesses in Liaoning, China's national broadcaster reported on Monday.

Persons: Vladimir Putin, Xi Jinping, Sergei Guneev, Xi, Ryan Woo, Ellen Zhang, Simon Cameron, Moore Organizations: Forum, Sputnik, Rights, West, China's, Chinese, Administration of Customs, Thomson Locations: Beijing, China, Rights BEIJING, Shenyang, Liaoning province, Russia, Ukraine, Liaoning, Heilongjiang, Jilin, Vladivostok, Russian, Zhoushan, Zhejiang

☆ China's fighter jet fleet is growing in size and appears to have made a big jump in capability, new Pentagon report shows
▼ + stars: | 2023-10-23 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

US Department of Defense released its annual China Military Power Report to Congress last week. The Chinese fighter jet fleet appears to have not only grown in size but, more importantly, also in overall capability. AdvertisementAdvertisementA new report from the Pentagon details China's expanding military power, including the growth of its fighter jet fleet, which appears to have also experienced a jump in capability. The Pentagon's report notes that China's fighter jet fleet has both expanded and apparently improved. CFOTO/Future Publishing via Getty ImagesExamples of China's fourth-generation fighter aircraft include the Chengdu J-10, Shenyang J-16, and Shenyang J-15.

Persons: —, Xi, Liu Dawei, they've, Matthew P, Funaiole Organizations: of Defense, China, Service, US Department of Defense, People's Liberation Army, PLA, PLA Air Force, PLA Navy, PLAN, PLAN Aviation, DoD, The Air Force, Air, Air Force Aviation University, CFOTO, Publishing, Getty, Shenyang J, 14th China International Aviation, Aerospace Exhibition, Pentagon, China Power Project, Center for Strategic, International Studies Locations: People's Republic of China, China, United States, Nanjing, Jiangsu province, Shanghai, Jiangsu, Zhejiang, Anhui, Jiangxi, Fujian, Chengdu, Shenyang, Chinese, Liaoning, Zhuhai, Guangdong Province, Xinhua, Russian

☆ China names Song Kai as new chairman of CFA
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Oct 16 (Reuters) - Song Kai was named as the new chairman of the Chinese Football Association (CFA)，China's state news agency Xinhua reported on Monday, amid a spike in anti-corruption investigations into the soccer body. Song works as the director of Liaoning province's Sports Bureau, according to state media Global Times. Sun Wen, Yuan Yongqing, Yang Xu and Xu Jiren were named CFA vice presidents, Xinhua reported. China's top prosecutor said last week it had ordered the arrest of former CFA vice chairman Du Zhaocai, who was suspected of accepting bribes, state media previously reported. read moreOver a dozen officials working in the football sector have been placed under investigation since November last year, state media reported last week.

Persons: Kai, Sun Wen, Yuan Yongqing, Yang Xu, Xu Jiren, China's, Du Zhaocai, CFA Chen, Ella Cao, Liz Lee, Peter Rutherford Organizations: Chinese Football Association, Xinhua, Liaoning province's Sports, Global Times, CFA, Thomson Locations: BEIJING, Liaoning

☆ China central bank ramps up liquidity support via policy loans, rate unchanged
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +2 min

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. REUTERS/Tingshu Wang/File photo Acquire Licensing RightsSHANGHAI, Oct 16 (Reuters) - China's central bank ramped up liquidity support to the banking system as it rolled over medium-term policy loans on Monday, but kept the interest rate unchanged as expected. It held the rate on the one-year policy loans at 2.50%, unchanged from the previous operation. With 500 billion yuan worth of MLF loans maturing, the PBOC is injecting fresh liquidity into the banking system. Market watchers polled by Reuters last week predicted no change to the MLF rate.

Persons: Tingshu Wang, PBOC, Stone Zhou, Xing Zhaopeng, Christian Schmollinger Organizations: People's Bank of China, REUTERS, Rights, Reuters, Global Markets, UOB, ANZ, Shanghai, Thomson Locations: Beijing, China, U.S, UOB China, Liaoning, Chongqing, United States

☆ China's Golden Week: expected consumption boom disappoints
▼ + stars: | 2023-10-09 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —China has concluded its Golden Week holiday on a muted note, with key travel and spending data showing weaker-than-expected recovery in consumption amid a wider economic slump. Before the holiday, the ministry had expected domestic travel to hit 896 million trips, and tourism spending to reach 782.5 billion yuan ($107 billion). According to the National Immigration Administration, on average 1.48 million people crossed the border every day during the Golden Week holiday. Weakness at the box officeChina’s box office hit multi-year lows during the holiday week. A recovery in domestic consumption not related to the Golden Week also fell short of expectations.

Persons: ” Goldman Sachs, Tesla, BYD Organizations: Hong Kong CNN, Ministry of Culture, Tourism, National Immigration Administration, Shenyang North Railway, Stringer, Getty, Citi, Entertainment, Tencent, China Passenger Car Association Sunday, CNN, EV Locations: China, Hong Kong, Beijing, China's, Liaoning, AFP, Tourism

☆ How surging trade with China is boosting Russia’s war
▼ + stars: | 2023-09-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +15 min

Mikhail Tereshchenko | Afp | Getty ImagesThe defense ministries of China and Russia did not respond to CNBC's request for comment on the trade flows. Trade of 'dual-use' goods spikesTotal bilateral trade between Russia and China hit a record high of $190 billion in 2022, up 30% from 2021. Semiconductor sales to Russia from China and Hong Kong more than doubled in 2022 as Western sanctions took hold. Meantime, construction equipment has played an "underappreciated" but significant role in China's contribution to Russia's war efforts, having helped bolster its defenses against Ukraine's counteroffensive, Joseph Webster, senior fellow at the Atlantic Council, said. The findings add to the growing list of Chinese goods and companies reported to be supplying Russia's military, including state-owned enterprises.

Persons: Vladimir Putin's, Mark Cancian, Vladimir Putin, Xi Jinping, Mikhail Tereshchenko, Wang Yi, China's, Putin, Li Shangfu, —, Qilai Shen, Antonia Hmaidi, Cancian, they've, Hong Kong Retekess, Legittelecom, It's, Silva, Hmaidi, Joseph Webster, Webster, that's, Ramzan Kadyrov, Russia's Organizations: CNBC, for Strategic, International Studies, Kremlin, Afp, Getty, Ukraine's Defense Ministry, Ukrainian Armed Forces, Bank of Finland's Institute, Emerging, Semiconductor, CNBC CNBC, Federal, Service, SZ DJI Technology, Robotics, Iflight, SZ, Technology, Bloomberg, Rostov, R Technology, Beijing KRnatural International Trade Co, Mercator Institute for China Studies Defense, Industry, Hong, Mercator Institute for China Studies, Moscow, ImportGenius, Ukraine's, Atlantic Council, Atlantic, U.S, China Taly Aviation Technologies, China Poly Technologies, EU, Beijing, National Security Council Locations: Ukraine, China, Washington, Russian, Moscow, Russia, Beijing, U.S, Kyiv, Hong Kong, Shenzhen, DJI, Liaoning, Shanghai, Berlin, Buryatia, Hubei, Korea, Pyongyang, Russia's, Amur, Chechen Republic, Qianwan, Qingdao Port, Shandong Province, deniability

☆ Slowing, Graying and in Debt, Can China’s Industrial Heartland Be Revived?
▼ + stars: | 2023-09-26 | by ( Keith Bradsher | More About Keith Bradsher | ) www.nytimes.com time to read: +1 min

Hundreds of workers at a factory in Shenyang in northeastern China weld automated machines, 95 yards long, that are used to bore subway tunnels. At another factory there, employees assemble robots that China’s solar panel makers will use to streamline their production. Shenyang is the capital of Liaoning Province, one of three large provinces in the northeast that constitute the cradle of China’s heavy industry. Now the central government, confronting a national economy that has slowed because of a real estate crisis that defies easy fixes, is turning to cities like Shenyang. Fewer people are buying new homes, apartment prices are falling and construction cranes are less active.

Locations: Shenyang, China, Liaoning Province, Beijing

The zoo is run by the local government, which was said to be running out of money and therefore unable to feed its charges. These vehicles are legal entities created by Chinese cities to circumvent borrowing restrictions imposed by the central government in Beijing. “Why hurt small businesses which are the weakest?”Noodle sellers in Shanghai have been fined for adding cucumber to their dishes. Last year, Beijing issued a directive forbidding local governments from imposing “arbitrary fines” to generate income, and dispatched inspection teams to check that the policy was being followed. The scale of financial stress among China’s local governments is so big that “creative” sources of income can only cover a relatively small shortfall, he said.

Persons: hadn’t, Xi Jinping’s, ”, Willy Lam, Lam, “, Aly Song, Jiemian, Logan Wright, hasn’t, Li Qiang, Steve Tsang, Joseph Cheng, —, Martha Zhou Organizations: Hong Kong CNN, Species Fund, CNN Local, China Newsweek, ” CNN, China National Radio, Washington, Jamestown Foundation, CNN, ”, Weibo, “, SOAS China, SOAS University of London, City University of Hong Locations: China, Hong Kong, Dongshan, Liaoning, Beijing, Shanghai, Henan, Huizhou, Nanchang, Qingdao, City University of Hong Kong

☆ Oil investors open to dividend cut to boost clean energy spending -Deloitte
▼ + stars: | 2023-09-12 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +3 min

Energy firms have sharply increased shareholder returns on the back of high energy prices after years of overspending on production growth. Oil and gas companies led all industries in cash distribution to shareholders in 2022, with a combined 8% dividend and buyback yield, Deloitte said. But investors holding $2.3 trillion of equity in the global oil and gas industry are changing their expectations about growth markets faster than energy company executives, Deloitte said. About 75% of surveyed investors stated that they would continue holding shares to accelerate investments in lower-carbon technologies, even if yields shrank to as little as 3%. About 43% of surveyed investors emphasized battery storage as their key area for investment.

Persons: Chen Aizhu, Kate Hardin, Hardin, Sabrina Valle, Jamie Freed Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, Deloitte, . Energy, Oil, Exxon Mobil, Chevron, BP, Shell, Thomson Locations: China, Dalian, Liaoning province, HOUSTON

☆ More Chinese cities lift home-buying curbs to revive demand
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, Sept 11 (Reuters) - Two major cities in eastern China lifted all curbs on home purchases and selling on Monday, joining several other cities in dropping restrictions to attract buyers and revive a largely frozen property market. Qingdao previously limited the number of homes that could be purchased in two districts. Last week, three cities - Nanjing in eastern Jiangsu province and Dalian and Shenyang in northeastern Liaoning province - became the first group of big cities to eliminate curbs on home buying. Smaller Chinese cities, whose property markets tend to have a larger share of their local economies, have already begun dismantling curbs. Jiaxing city, a relatively small city in the eastern province of Zhejiang, announced it would lift all curbs in the city in late August, according to a local media report.

Persons: Thomas Peter, Albee Zhang, Ryan Woo, Neil Fullick, Emelia Organizations: REUTERS, Rights, Thomson Locations: Beijing, China, Rights BEIJING, Jinan, Qingdao, China's, Shandong, Nanjing, Jiangsu, Dalian, Shenyang, Liaoning, Jiaxing, Zhejiang

☆ Three Chinese cities lift house-buying curbs
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +1 min

People walk along Nanjing Pedestrian Road, a main shopping area, following the outbreak of the coronavirus disease (COVID-19), in Shanghai, China May 10, 2021. REUTERS/Aly Song/File Photo Acquire Licensing RightsBEIJING, Sept 10 (Reuters) - At least three major Chinese cities last week removed restrictions on home buying, as the Asian giant gradually rolls back a crackdown on the property sector in a bid to revive its economy. These announcements come on the heels of a series of nationwide support measures for the property sector, including lower mortgage rates for first-time homebuyers. China's debt-riddled property sector accounts for one-quarter of the state's economic activity. It had been on a downward spiral since 2021 when the government moved to stop developers from accumulating debt.

Persons: Aly, Yew Lun, Michael Perry Organizations: REUTERS, Rights, Thomson Locations: Nanjing, Shanghai, China, Rights BEIJING, Dalian, Shenyang, Liaoning, Jiangsu

☆ China developer Vanke sees pressure on profit amid market downturn
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Stringer/File Photo Acquire Licensing RightsHONG KONG, Aug 31 (Reuters) - Chinese state-backed property developer China Vanke said its profit would be under pressure in the short term amid a market correction, but that would not hurt its cashflow. Offshore, it said it has completed 15 billion yuan worth of offshore refinancing in the first half, and it is getting ready to repay its three bonds totalling 11 billion yuan maturing next year. Commenting on the broader market, company chairman Yu Liang China's property market has "overcorrected" as sentiment over-react to the negative news in the sector. As pressure mounts on the real estate market, more Chinese cities are easing mortgage curbs in hopes of reviving consumer demand for homes. ($1 = 7.2882 Chinese yuan renminbi)Reporting by Clare Jim; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: Stringer, HONG KONG, China Vanke, Vanke, Yu Liang, Yu, Clare Jim, Susan Fenton Organizations: REUTERS, Thomson Locations: Dalian, Liaoning province, China, HONG, Shenzhen, Wuhan, Hubei, Guangzhou

☆ Soaring youth joblessness is driving record-setting enrollment at China's military academies
▼ + stars: | 2023-08-29 | by ( Jack Lau | South China Morning Post | ) www.businessinsider.com time to read: +5 min

Total intake at China's military academies is the highest since 2017 and 2,000 more than last year. The total intake — spread across China's 27 military academies that accept high-school graduates — was 2,000 more than last year, the People's Liberation Army (PLA)'s official newspaper reported on Tuesday. Almost all places for this cohort had been filled, the PLA Daily report said. STR/AFP via Getty ImagesThe Central Military Commission — China's top military command, chaired by President Xi Jinping — announced the new standards in March. AdvertisementAdvertisementHowever, China's military academies offer far more places for men than for women.

Persons: —, Chen Bin, Xi Jinping —, Air Defence —, Xi, Liu Yang, Zhu Yuemeng, Dong Jun Organizations: Service, People's Liberation Army, PLA, Getty, PLA Daily, Military Commission, PLA Army Academy of Artillery, Air Defence Locations: Wall, Silicon, Beijing, Huainan, Hefei, Shandong, China, Liaoning

☆ Xiaomi revenue drops but EV strategy ahead of schedule
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Sales dropped to 67.4 billion yuan ($9.2 billion) from 70.17 billion in the same quarter a year earlier, but beating analysts' estimates of 65.13 billion. Net income rose to 5.14 billion yuan over the period, an increase of 147% from 2.08 billion yuan a year earlier, also beating expectations. "Despite the macroeconomic headwinds in the global market we continue to expand our footprint," Xiaomi President Lu Weibing said on an earnings call. Lu said the company's plans to start mass production of EVs in the first half of 2024 remains unchanged. "Our current progress is ahead of expectations and of the original production schedule," he said.

Persons: Lu Weibing, Lu, Stringer, Canalys, David Kirton, Mo Yelin, Louise Heavens, David Holmes Organizations: Xiaomi Corp, HK, REUTERS, Reuters, Thomson Locations: SHENZHEN, China, Shenyang, Liaoning province, India, Shenzhen, Mo, Beijing

☆ Oil rises as China moves to support economy, tropical storm in focus
▼ + stars: | 2023-08-28 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. The market is also keeping an eye on Tropical Storm Idalia and any risk it poses to oil and gas output in the U.S. Gulf. The focus today is on "China actions to support its economy, Tropical Storm Idalia heading for Florida and whether Brent can regain momentum on a break above $85," said Ole Hansen, head of commodity strategy at Saxo Bank. That "should see some short-term support for the oil price", he said. Oil prices have remained above $80 a barrel with support from falling oil inventories and supply cuts from the OPEC+ group of oil producers.

Persons: Chen Aizhu, Idalia, Fed's Powell, Brent, Ole Hansen, Tony Sycamore, Jerome Powell, Tina Teng, Florence Tan, Sudarshan, Jason Neely, Kirsten Donovan, Louise Heavens, Sharon Singleton Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, . West Texas Intermediate, Saxo Bank, CMC, Reuters, Thomson Locations: China, Dalian, Liaoning province, Florida, U.S . Gulf, Brent, Cuba, U.S, OPEC, Saudi Arabia

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. CMC markets analyst Tina Teng said a soft-landing scenario for the U.S. economy buoyed energy markets on Monday, despite the Federal Reserve's hawkish stance on rate hikes. That "should see some short term support for the oil price", he said. Oil prices have remained above $80 a barrel on support from falling oil inventories and supply cuts from the OPEC+ collective of oil producers. Reporting by Florence Tan and Sudarshan Varadhan; Editing by Christopher Cushing and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Chen Aizhu, Baker Hughes, Brent, WTI, Jerome Powell, Tony Sycamore, Sycamore, Tina Teng, Idalia, Florence Tan, Sudarshan, Christopher Cushing, Clarence Fernandez Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, U.S, West Texas, IG, PMI, CMC, Federal, ANZ Research, Thomson Locations: China, Dalian, Liaoning province, SINGAPORE, U.S, United States, Caribbean, Florida, Gulf, OPEC, Iran, Venezuela

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. REUTERS/Chen Aizhu/File Photo Acquire Licensing RightsCompanies Baker Hughes Co FollowSINGAPORE, Aug 28 (Reuters) - Oil prices were marginally lower on Monday as investors stayed fretful over the pace of economic growth in China, and the prospect of further U.S. interest rate hikes that could dampen fuel demand. Oil rose in early Asian trade before paring gains, as China's move to halve stamp duty on stock trading to boost struggling markets temporarily pushed up prices. In the United States, energy firms cut the number of active oil rigs for a ninth month in August, Baker Hughes said in a report. Reporting by Florence Tan and Sudarshan Varadhan; Editing by Christopher Cushing and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. Brent crude settled 6 cents lower at $84.42 a barrel, after touching a session high of over $85 earlier in the day. Tropical Storm Idalia was expected to intensify into a major hurricane on Monday as it barrelled toward Florida's Gulf Coast. Some worried it could hit the eastern side of U.S. Gulf Coast crude production. Oil prices have remained above $80 a barrel with support from falling oil inventories and supply cuts from the OPEC+ group of oil producers.

Persons: Chen Aizhu, Idalia, Brent, Jerome Powell, Dennis Kissler, Ole Hansen, Tony Sycamore, Alex Lawler, Florence Tan, Sudarshan, Jason Neely, Kirsten Donovan, Louise Heavens, Sharon Singleton, David Gregorio, Tomasz Janowski Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, HOUSTON, . West Texas, Federal, BOK, Saxo Bank, Gulf, Reuters, Thomson Locations: China, Dalian, Liaoning province, Florida, U.S, Gulf Coast, Gulf, OPEC, Saudi Arabia, London

REUTERS/Chen Aizhu/File Photo Acquire Licensing RightsNEW YORK, Aug 25 (Reuters) - Oil futures climbed about 1% to a one-week high on Friday as U.S. diesel prices soared, the number of oil rigs dropped and a fire broke out at a refinery in Louisiana. Brent futures rose $1.12, or 1.3%, to settle at $84.48 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 78 cents, or 1.0%, to settle at $79.83. Diesel futures soared about 5% to a near seven-month high, boosting the diesel crack spread , a measure of refining profit margins, to its highest since January 2023. "The main thing was concern about diesel prices, the diesel crack spread and worries about diesel shortages when refineries go into maintenance," said Phil Flynn, an analyst at Price Futures Group. He added prices also drew support from a fire at a Louisiana refinery and a drop in U.S. oil rigs.

Persons: Chen Aizhu, Phil Flynn, Brent, WTI, Baker Hughes, Jerome Powell, Morgan Stanley, John Evans, Natalie Grover, Laura Sanicola, Muyu Xu, David Goodman, Jason Neely, David Gregorio, Cynthia Osterman Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, U.S, West Texas, Diesel, Price Futures Group, U.S ., Federal, Thomson Locations: China, Dalian, Liaoning province, Louisiana, Brent, , Louisiana, U.S, Germany, Europe's, Norwegian, London, Washington, Singapore

☆ Oil set for 2nd weekly fall on firm dollar as supply worries ebb
▼ + stars: | 2023-08-25 | by ( Muyu Xu | ) www.reuters.com time to read: +3 min

Brent crude rose 30 cents, or 0.4%, to $83.66 a barrel by 0434 GMT, while U.S. West Texas Intermediate crude was up 31 cents, also 0.4%, at $79.36 a barrel. Crude prices are set to fall between 1.5%-2.5% for the week, a second consecutive week of decline. A strong dollar makes oil more expensive for holders of other currencies, denting demand. Further weighing on market sentiment, U.S. officials are drafting a proposal that would ease sanctions on Venezuela's oil sector, allowing more companies and countries to import its crude oil. Analysts estimated that the top oil exporter will likely roll over a voluntary oil cut of 1 million barrels per day for a third consecutive month into October, amid uncertainty about supplies and as the kingdom targets drawing down global inventories further.

Persons: Chen Aizhu, Jerome Powell, Brent, Jun Rong, Powell's, Laura Sanicola, Muyu Xu, Jacqueline Wong Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, Companies United, Federal, U.S, West Texas, IG, Haitong Futures, Analysts, Thomson Locations: China, Dalian, Liaoning province, Companies United States, America, Turkey, Kurdistan, Iraq, Saudi Arabia

☆ Oil falls on China worries despite tighter US supply
▼ + stars: | 2023-08-16 | by ( Trixie Sher Li Yap | ) www.reuters.com time to read: +3 min

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. "Concerns that China's faltering economy will weigh on demand offset tight supply in the oil market," ANZ analysts said in a client note. "Crude inventories at the Cushing hub are seen to be falling to their lowest level since April. U.S. crude stocks dropped by about 6.2 million barrels last week, according to market sources citing American Petroleum Institute figures. Supply cuts by Saudi Arabia and Russia, part of the OPEC+ group comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies, have pushed up oil prices over the past seven weeks.

Persons: Chen Aizhu, Cushing, Rystad, Claudio Galimberti, Arathy Somasekhar, Trixie Yap, Sonali Paul Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, Brent, U.S, West Texas, ANZ, American Petroleum Institute, Reuters, National Australia Bank, of, Petroleum, Thomson Locations: China, Dalian, Liaoning province, Beijing, Saudi, Saudi Arabia, Russia, OPEC, Houston, Singapore

☆ Russia's Far East suffers flooding in Khanun's wake, over 2,500 people evacuated
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

Aug 14 (Reuters) - Floods in Russia's Far East had forced the evacuation of more than 2,500 people by Monday, the ministry of emergency situations said, after Russia joined the list of countries battered by rainstorms in the wake of Typhoon Khanun. Russian Emergencies Ministry/Handout via REUTERS/File photoIn the Russian Far East, 28 settlements were cut off by Monday. Large stretches of roads and 4,620 houses were flooded in 15 municipalities, the ministry said on the Telegram channel. The ministry said floodwaters had begun to recede in most parts of Primorye, and the worst flooding was on the Malinovka river near the village of Rakitnoye. Reporting by Lidia Kelly in Warsaw; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Khanun, Lidia Kelly, Simon Cameron, Moore Organizations: Russian Emergencies Ministry, REUTERS, Telegram, Thomson Locations: Russia's Far, Russia, Japan, China, Liaoning, Ussuriysk, Russian, Vladivostok, Primorye, Rakitnoye, Warsaw

BEIJING, Aug 13 (Reuters) - The death toll from a mudslide last week in China's northwestern Shaanxi province has risen to four, state radio said on Sunday, as the country grapples with unusually high summer rainfall. TYPHOON WEAKENSMeanwhile, Typhoon Khanun weakened into a tropical depression when it made landfall in China's Liaoning province on Friday night. Overnight rainfall in Liaoning peaked at 52 millimetres (2 inches) per hour, with four reservoirs exceeding flood limits, CCTV said. A video posted by state media People's Daily showed thick swirling clouds hanging low above the ground, darkening the sky. Reporting by Andrew Hayley and Ethan Wang; Editing by Raju Gopalakrishnan and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Typhoon Khanun, Khanun, Doksuri, Andrew Hayley, Ethan Wang, Raju Gopalakrishnan, Jamie Freed Organizations: China Central Television, Xinhua, Liaoning province's Anshan, Flood, Drought, Ministry of Emergency Management, CCTV, Thomson Locations: BEIJING, China's, Shaanxi, Xian, China's Liaoning, Liaoning, Tianjin, Chongqing, China, Xinjiang

☆ Factbox: Impact of floods in China after Typhoon Doksuri
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] A view of damaged cardboard boxes at Baixiang packaging products factory after the rains and floods brought by remnants of Typhoon Doksuri, in Zhuozhou, Hebei province, China August 7, 2023. REUTERS/Tingshu Wang/file photoBEIJING, Aug 10 (Reuters) - Extreme rain battered northern China after Typhoon Doksuri made landfall in southern Fujian province on July 28, flooding cities including Beijing, killing at least 60 people and causing extensive damage to homes, crops, livestock and infrastructure. Following is a tally of the damage, as reported by state media:BEIJINGAs of 12 a.m. (-1day 1600 GMT) Aug. 9* 33 deaths, 18 still missing* 59,000 homes collapsed, 147,000 homes damaged* 225,000 mu (15,000 hectares) of crops strickenBAODING PREFECTURE IN HEBEIAs of 12 p.m. (0400 GMT) Aug. 5* 10 dead, 18 missing* 4,448 homes collapsed, 7,286 homes damaged* 79,000 hectares of crops affected* 284 bridges and over 550 kilometres of rural roads ruined* 17 billion yuan ($2.36 billion) in direct economic lossesSHULAN CITY IN JILIN PROVINCEAs of 10 p.m. (1400 GMT) Aug. 6* 14 deaths, 1 missingDANDONG CITY IN LIAONING PROVINCEAs of Aug. 1* Four deadHEILONGJIANGAs of 12 p.m. (0400 GMT) Aug. 9* 3.87 million mu (258,000 hectares) of crops stricken* 23,708 homes collapsed or damaged* 149 bridges ruined, 352 culverts, 242,000 metres of roadbed and 1,300 greenhouses destroyedFUJIAN PROVINCEAs of 2 p.m. (0600 GMT) July 28* 262.3 hectares of crops damaged* 52.27 million yuan ($7.25 million) in direct economic losses($1 = 7.2068 Chinese yuan)Reporting by Beijing Newsroom; Editing by Miral Fahmy and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Doksuri, Tingshu Wang, Miral Fahmy, Sherry Jacob, Phillips Organizations: REUTERS, CITY, Beijing, Thomson Locations: Zhuozhou, Hebei province, China, BEIJING, Fujian, Beijing, BAODING PREFECTURE, HEBEI, JILIN PROVINCE, LIAONING, HEILONGJIANG, FUJIAN PROVINCE

CNN —Days of heavy rain have caused severe flooding in China’s leading grain-producing region in the northeast, killing 14 people and raising concerns about food security as floodwater inundated farmlands. As the storm moved further north, another 14 deaths were reported Sunday in the city of Shulan in Jilin province. Firefighters operate a drainage machine near a village in the city of Mudanjiang in northeastern China's Heilongjiang province on August 5. A cornfield is submerged by floodwater in a village in Hebi city, Henan province on August 5. A flooded farm in Xinxiang city, Henan province on August 5.

Persons: Doksuri, Zhang Tao, floodwater, Typhoon Khanun, Xi Jinping Organizations: CNN, Xinhua, Firefighters, China’s Ministry of Water Resources, Communist Party, Ministry of Agriculture, Rural Affairs, National Bureau of Statistics, China Meteorological Administration, Qiushi, Communist Locations: China, Beijing, Hebei, Shulan, Jilin province, Heilongjiang, Mudanjiang, China's Heilongjiang, Jilin, Harbin, Shangzhi, Wuchang, Liaoning, Hebi city, Henan province, Henan, Xinxiang city

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