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☆ Micron says committed to China, invests $602 mln in existing plant
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

Micron made no mention of the review's decision in its Friday statement, posted on WeChat. "This investment projects demonstrates Micron's unwavering commitment to its China business and team," it quoted CEO Sanjay Mehrotra as saying. Micron and Powertech did not immediately respond to requests for comment. This would bring Micron's workforce in China to more than 4,500 people, the company added. ($1 = 7.1337 yuan)Reporiting by Beijing newsroom; Editing by Muralikumar Anantharaman and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Sanjay Mehrotra, Muralikumar Anantharaman, Gerry Doyle Organizations: Micron, Technology Inc, Powertech, Thomson Locations: BEIJING, China, Xian, United States, Powertech's, Beijing

☆ Micron warns of bigger revenue hit from China ban
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +2 min

The company said it now expects an impact on about half of its revenue from China-headquartered firms, which equates to a low-double-digit percentage of its total revenue. It had neither provided details on what risks it had found nor what Micron products would be affected. It also added that several customers, including mobile manufacturers, were being contacted by Chinese government representatives about the future use of Micron products. Micron's revenue from companies headquartered in mainland China and Hong Kong, including direct sales as well as indirect sales through distributors, accounts for about a quarter of its total revenue. ($1 = 7.1218 Chinese yuan renminbi)Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Sanjay Mehrotra, Chavi Mehta, Shailesh Organizations: Micron Technology, Micron, Cybersecurity Administration, Thomson Locations: China, U.S, Beijing, Washington, Hong Kong, Xian, Bengaluru

☆ Micron invests another $600 million in China despite partial sales ban
▼ + stars: | 2023-06-16 | by ( ) edition.cnn.com time to read: +2 min

Micron said Friday it was committed to China and would invest 4.3 billion yuan ($603 million) over the next few years in its chip packaging facility in the city of Xian. Micron, the biggest US memory chipmaker, was last month targeted by China’s cyberspace regulator, which said the firm had failed a network security review. “This investment project demonstrates Micron’s unwavering commitment to its China business and team,” it quoted CEO Sanjay Mehrotra as saying. Micron, China’s commerce ministry and the Cyberspace Administration of China did not immediately respond to requests for comment. In May, Micron forecast a hit to revenue in the low-single to high-single digit percentages after the China ban.

Persons: Sanjay Mehrotra, Powertech Organizations: Micron, Technology Inc, Cyberspace Administration, China Locations: China, Xian

☆ A desperate property developer in China said it would give a gold bar to anyone who buys a home it builds. Homebuyers say they're still waiting.
▼ + stars: | 2023-06-13 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

A Chinese property developer is offering gold bars to buyers in a desperate bid to boost home sales. According to The Guardian and local media outlets, the property developer in question is Huafa Group, which is based in Hangzhou, a city in eastern China. Disgruntled buyers are raging over the gold barsHowever, some buyers have been kept waiting for the promised gold after purchasing a flat. A staff member at Huafa told Insider the Huafa Hui Tianfu development had "nothing to do" with them. Flashy giveaways are commonplace in China's property marketThis is not the first time Chinese property developers have dangled freebies to entice homebuyers.

Persons: —, they've, monthslong, Hui Tianfu, China's, Zhu, Xian, Shao, Xiao Qiang, homebuyers Organizations: Service, Guardian, Weibo, China's Twitter, Huafu Group, Jiemian, Huafa, Qianjiang Evening, Estate Development Corporation, China Index Academy, Bloomberg, Wall Street Locations: Hangzhou, China, Hangzhou Yuejia

☆ Ex-Samsung Elec executive indicted over alleged data theft for China factory
▼ + stars: | 2023-06-12 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +2 min

SEOUL, June 12 (Reuters) - South Korean prosecutors said they indicted a former Samsung Electronics (005930.KS) executive on Monday on suspicion of stealing the company's technology to build a chip factory in China. He worked a combined 28 years at the South Korean chipmakers, prosecutors said. The attempt to build the new plant using Samsung data, however, ended in failure due to funding issues, a prosecutor said. South Korean President Yoon Suk Yeol has described competition in the industry as an "all-out war" amid heightened Sino-U.S. tensions. South Korea's Samsung and SK Hynix, the world's top two makers of memory chips, have invested billions of dollars in chip factories in China.

Persons: Prosecutors, Yoon Suk, 1,291.7700, Soo, hyang Choi, Raju Gopalakrishnan, Jason Neely Organizations: Samsung Electronics, SK Hynix, Samsung, Prosecutors, Reuters, Korea's Samsung, Thomson Locations: SEOUL, China, Xian, Suwon, Korean, South Korea, U.S

☆ Aja Monet, a Musical Poet of Love
▼ + stars: | 2023-06-08 | by ( Marcus J. Moore | ) www.nytimes.com time to read: +1 min

A crowd that included musicians and actors filled the Gagosian Gallery on Madison Avenue earlier this spring to hear the poet and community organizer Aja Monet speak about the subtleties of Black love, joy and uncertainty. But for Monet, there was only one celebrity in the room: Bonnie Phillips, her former college adviser, who sat rapt in the front row. “I remember her suggesting what schools to go to and it wasn’t Harvard, you know what I mean?” Monet said in a recent video interview from her home in California. Recalling her high school years in New York, Monet said she asked a lot of questions in class but didn’t have the best grades: “I think I was way more just opinionated and outspoken.”She remains both on her debut album, “When the Poems Do What They Do,” a fluid mix of jazz and poetry out Friday that evokes the spirit of 1990s spoken-word scenes. Featuring a who’s who of instrumentalists she’s known over the years — Chief Xian aTunde Adjuah on trumpet, Samora Pinderhughes on piano, Elena Pinderhughes on flute, Weedie Braimah on djembe and Marcus Gilmore on drums — the LP is a nuanced exploration of Blackness.

Persons: Aja Monet, Monet, Bonnie Phillips, ” Monet, she’s, Xian aTunde Adjuah, Samora Pinderhughes, Elena Pinderhughes, Weedie, Marcus Gilmore Organizations: Madison, Harvard Locations: California, New York, djembe

☆ China's Tiananmen Square demonstrations and crackdown
▼ + stars: | 2023-06-04 | by ( ) www.reuters.com time to read: +4 min

Tanks rolled into the square before dawn on... Read moreJune 4 (Reuters) - Sunday is the 34th anniversary of China's bloody crackdown on pro-democracy demonstrations in and around central Beijing's Tiananmen Square, when Chinese troops opened fire on their own people. April 17: Protests begin at Tiananmen Square, with students calling for democracy and reform. May 13: Hundreds of students begin a hunger strike on Tiananmen Square. May 30: Students unveil a 10-metre (33 ft) high "Goddess of Democracy", modelled on the Statue of Liberty, in Tiananmen Square. June 5: An unidentified Chinese man stands in front of a tank convoy leaving Tiananmen Square.

Persons: Read, Hu Yaobang, Mikhail Gorbachev, Gorbachev, Zhao Ziyang, Li Peng, Wen Jiabao, Zhao, Li, Butcher, Yuan Mu, Deng Xiaoping, Ben Blanchard, Robert Birsel Organizations: Communist Party, of, Asian Development Bank, People, Paramount, Thomson Locations: Tiananmen, Beijing, China, Xian, Changsha, Shanghai, Great

☆ China's Xi calls for stable, secure central Asia
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +1 min

[1/2] Chinese President Xi Jinping speaks at the round table during the China-Central Asia Summit in Xi'an, Shaanxi province, China, 19 May 2023. MARK CRISTINO/Pool via REUTERSXIAN, May 19 (Reuters) - China's President Xi Jinping said on Friday that the security, independence and territorial integrity of central Asian nations must be safeguarded. Delivering the keynote speech at the China-Central Asia Summit in the historic city of Xian, Xi said the world needs "a central Asia that is stable, prosperous, harmonious, and well-connected", state media reported. Xi, who is hosting Asian leaders from five central Asian countries, characterized relations between China and its western neighbours as having great vigour and vitality. Leaders from Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan and Tajikistan were on hand for meetings that cover trade and bilateral relations.

☆ Central Asia leaders converge in China as Xi touts 'enduring' friendship
▼ + stars: | 2023-05-18 | by ( Andrew Hayley | ) www.reuters.com time to read: +2 min

The first to land was President Kassym-Jomart Tokayev of Kazakhstan - China's largest trading partner in Central Asia - with his face-to-face meeting with Xi on Wednesday ending with a deal to build "enduring friendship" and share "weal and woe". Tokayev's deal with Xi will set the tone for the other bilateral meetings, where China will seek deeper cooperation with other Central Asia states in its quest to achieve greater food, energy and national security. Two-way trade between China and Central Asia hit a record $70 billion last year, with Kazakhstan leading with $31 billion. Kyrgyzstan followed with $15.5 billion, Turkmenistan with $11.2 billion, Uzbekistan with $9.8 billion and Tajikistan with $2 billion. Reporting by Andrew Hayley; writing by Ryan Woo; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

XIAN, China, May 17 - China will for the first time host an in-person summit of central Asian leaders this week, seeking to cement ties in a region seen as Russia's backyard as its relations with the West sour. "Beijing wants to promote a new alternative to the global order, and try to persuade the Central Asian region that this new global order is better for them too," said Adina Masalbekova, a research fellow at the OSCE Academy in Bishkek. For the first in-person summit, Xian is a symbolic nod to the importance of economic ties as the city was pivotal in the ancient Silk Road trade route that spans Central Asia. "One of the biggest trump cards that we expect to see at this summit is a serious opening for Central Asian products to enter the Chinese market. But with the region's main backer Russia caught up in a grinding war with Ukraine and subject to international sanctions, analysts say the Central Asian states will welcome Beijing's overtures.

☆ Want to buy a cheap house in rural Japan? This millennial farmer offers his advice
▼ + stars: | 2023-05-12 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +6 min

Life on a farm is "very, very busy," says Lee Xian Jie, who harvests his own rice and tea. said Lee Xian Jie, who restored three buildings in Ryujin-mura, a village in Japan's Wakayama prefecture. On the same property is a 100-year-old building, which Lee Xian Jie converted into a guesthouse. Lee Xian JieAnother $37,000 was spent to turn the main house into a living space for himself and a functional cafe. While it will only open in June, Lee Xian Jie said he's already been getting some bookings.

☆ Chinese automaker BYD to make EVs in Vietnam
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

HANOI, May 8 (Reuters) - Chinese automaker BYD Co. (002594.SZ) plans to expand into electric vehicles manufacturing and assembly in Vietnam, according to a Vietnamese government statement citing the company's chair. Reuters in January exclusively reported that the Xian-based EV maker had plans to open a plant in Vietnam to produce car parts, with the aim to export components to an assembly plant planned in neighbouring Thailand. The statement did not mention how much new investment BYD would top up for the expansion. The presence of BYD would pose a direct challenge to VinFast, a Vietnamese EV maker that began selling cars in 2019 and plans to expand in the United States and Europe. Last September, BYD, backed by Warren Buffett's Berkshire Hathaway, announced that it would build an EV assembly plant in Thailand with annual capacity of 150,000 cars from 2024.

☆ How DBS is helping a Singapore startup pave roads using a material made from recycled plastic waste
▼ + stars: | 2023-04-10 | 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 EmailHow DBS is helping a Singapore startup pave roads using a material made from recycled plastic wasteOh Chu Xian, founder of Magorium, tells CNBC about the DBS Foundation Social Enterprise grant that helped the company pave a road at DBS Newton Green using recycled plastic waste.

☆ China to examine US chipmaker Micron's products for cybersecurity risks
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

March 31 (Reuters) - China's cyberspace regulator will conduct a cybersecurity review of products sold in the country by U.S. memory chip manufacturer Micron Technology Inc (MU.O), the regulator said on Friday. It gave no other details, including which Micron products it was reviewing. The Netherlands, which makes advanced lithography equipment critical for the manufacture of advanced chips, made a similar announcement earlier this month. Weak consumer demand has roiled the memory chip market, which is dominated by South Korea's Samsung Electronics (005930.KS). The larger chunk of the company's products flowing into China are being purchased by non-Chinese firms for use in products manufactured in the country, according to analysts.

☆ BYD downplays China price war impact after Q4 profit jumps
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

HONG KONG/SHANGHAI, March 29 (Reuters) - Chinese electric vehicle (EV) giant BYD said on Wednesday it was large enough to shake off the impact of a bruising price war and faltering demand in China, after reporting an 11-fold increase in fourth-quarter profit. The strong result came as it extended its lead in the Chinese market, thanks to an expanding range of products that is helping it overtake Volkswagen (VOWG_p.DE) to become the top-selling brand. BYD accounted for 41% of so-called new energy car sales in the world's biggest auto market for the first two months of the year. The Chinese EV giant has been slowing output since the start of the year when Beijing ended a national subsidy programme for EVs and plug-in electric vehicles. ($1 = 6.8756 Chinese yuan renminbi)Reporting by Josh Ye, Zhang Yan, Ella Cao and Meg Shen; Editing by Jonathan Oatis, Angus MacSwan and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ BYD posts 11-fold jump in Q4 profit -filing
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI/BEIJING, March 28 (Reuters) - Chinese electric vehicle giant BYD Co Ltd (002594.SZ) reported an 11-fold increase in fourth-quarter profit as it extended its lead in the domestic market with a wide range of products. Net profit for October-December came in at 7.3 billion yuan ($1.06 billion) versus 602 million yuan a year earlier. For the whole of 2022, net profit increased 446% to 16.6 billion yuan, said the company, which is 12% owned by Warren Buffett's Berkshire Hathaway (BRKa.N). Its battery installation volume ranked the second globally in Janaury with 17.6% market share, exceeding LG Energy Solutions, according to SNE Research. ($1 = 6.8756 Chinese yuan renminbi)Reporting by Zhang Yan, Ella Cao and Meg Shen; editing by Jason Neely, Jonathan Oatis and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: BYD reduces shifts at two electric vehicle plants in China - sources
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +3 min

BYD also reduced shifts at its Shenzhen plant, which makes its Han sedans, from three shifts per day to two per day, four people with knowledge of the development said. BYD did not give a reason for the reduced shifts in its planning memo reviewed by Reuters. Reuters was not able to determine how long the reduced shifts would last for BYD and if any of its other three assembly plants in China were affected by production schedule changes. It was also not clear how the reduced shifts would translate into production volume changes. To spur demand, BYD began offering discounts for its best-selling Yuan Plus and Seal EVs in March.

☆ Chinese company discusses sending Russia drones -Der Spiegel
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Feb 23 (Reuters) - Russia is in talks with a Chinese manufacturer about buying 100 drones, with a delivery date of April, German magazine Der Spiegel reported on Thursday, without citing specific sources. Der Spiegel said Chinese drone manufacturer Xian Bingo Intelligent Aviation Technology had said it was prepared to make 100 prototypes of its ZT-180 drone, which the magazine said could carry a 35-50kg warhead. It said the drone was similar to Iran's Shaheed-136, with which Russia has launched countless attacks on Ukraine, claiming hundreds of lives and damaging civilian infrastructure. The magazine also said Bingo had plans to help establish a production site for the drone in Russia, where up to 100 aircraft could be made a month. It added that there had been earlier plans for a company controlled by the Chinese army to send Russia spare parts for its SU-27 warplane.

[1/4] The BYD Atto 3 EV car is displayed at the 39 Thailand International Motor Expo, in Bangkok, Thailand, November 30, 2022. The company announced in September it would build an EV assembly plant in Thailand with annual capacity of 150,000 cars from 2024. Talks are underway to select a site for the Vietnam plant, said the sources, who declined to be named because the discussions are confidential. The Vietnam plant will export components to the assembly plant to be built in Thailand, one source said. That would pose a direct challenge to VinFast, a Vietnamese EV maker that began selling cars in 2019 and plans to expand in the United States and Europe.

☆ 'The ICU is full': medical staff on frontline of China's COVID fight say hospitals are 'overwhelmed'
▼ + stars: | 2022-12-26 | by ( Martin Quin Pollard | ) www.reuters.com time to read: +5 min

Bernstein's account reflects similar testimony from medical staff across China who are scrambling to cope after China's abrupt U-turn on its previously strict COVID policies this month was followed by a nationwide wave of infections. "The hospital is just overwhelmed from top to bottom," Bernstein told Reuters at the end of a "stressful" shift at the privately owned Beijing United Family Hospital in the east of the capital. In the past month, Bernstein went from never having treated a COVID patient to seeing dozens a day. Elsewhere in China, medical staff told Reuters that resources are already stretched to the breaking point in some cases, as COVID and sickness levels amongst staff have been particularly high. The National Health Commission did not immediately respond to a Reuters request for comment on the concerns raised by medical staff in this article.

☆ Developer China South City sells 70% stake in Xian projects for $717 million
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: +1 min

"The deal will be able to improve the liquidity of (China South City Xi'an)...and provide additional working capital to the group and reduce the gearing ratio of the group," China South City said in the filing on Sunday. China South City also said the buyer represents related parties of a unit that is part of its major shareholder SZCDG, which is owned by the Shenzhen municipal government. China South City Xi'an has property developments of completed gross floor area of 2.41 million square metres, and planned gross floor area of 760,000 square metres. After the deal, the business will be held 69.35% by the buyer, and 30.65% by China South City. The buyer has also been granted a Put Option which will allow it to sell all or part of the shares in the Xian business back to China South City in the future.

☆ China's cities battle first wave of COVID surge as wider spread looms
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: +4 min

China is currently in the first of an expected three waves of COVID cases this winter, according to the country's chief epidemiologist, Wu Zunyou. China reported some 2,097 new symptomatic COVID infections on Dec. 17. In Beijing, the spread of the highly transmissible Omicron variant has already hit services from catering to parcel deliveries. A third wave of cases would run from late February to mid-March as people returned to work after the holiday, Wu said. He said those in the community that are vulnerable should be protected, while recommending booster vaccines for the general public.

☆ Factbox: A chronology of dissent in China in recent decades
▼ + stars: | 2022-11-30 | by ( James Pomfret | ) www.reuters.com time to read: +5 min

The following is a timeline of some other notable protests, and public dissent against China's ruling Communist Party. 2009 - Xinjiang - In the region's worst ethnic unrest in decades, ethnic Uighurs attacked majority Han Chinese in the capital Urumqi, after an incident involving Uighur workers in a factory in southern China. China later builds massive "facilities" to turn Xinjiang into what a United Nations panel described as a "massive internment camp shrouded in secrecy". China later imposes a powerful national security law, arresting scores of democrats and shutting down civil society groups and liberal media outlets, including the Apple Daily newspaper. 2022 - Henan bank protests - Public protests simmer as thousands lose access to their savings in a banking fraud scandal centred on rural lenders in Henan and Anhui provinces.

☆ Russian and Chinese strategic bombers conduct joint patrols in Asia
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, Nov 30 (Reuters) - Russian and Chinese strategic warplanes, including Tupolev-95 long-range "Bear" bombers, conducted joint patrols over the Sea of Japan and East China Sea, the Russian defence ministry said on Wednesday. South Korea's military said earlier that it scrambled fighter jets as two Chinese and six Russian warplanes entered its air defence zone. Russia's defence ministry said that "at certain stages of the route, strategic missile carriers were accompanied by fighters of foreign states." "An air group consisting of Tu-95MC strategic missile carriers of the Russian Aerospace Forces and strategic bombers XIAN H-6K of the PLA Air Force carried out air patrols over the waters of the Japanese and East China Seas," the ministry said. It said Russian and Chinese aircraft "acted strictly in accordance with the provisions of international law" and that no foreign airspace was violated.

☆ Blank sheets of paper become symbol of defiance in China protests
▼ + stars: | 2022-11-27 | by ( ) www.reuters.com time to read: +4 min

In Shanghai, a crowd that started gathering late on Saturday to hold a candlelight vigil for the Urumqi victims held up blank sheets of paper, according to witnesses and videos. Other images showed dozens of other people subsequently taking to the university's steps with blank sheets of paper，illuminated against the night sky by flashlights from their mobile phones. In Hong Kong in 2020, activists also raised blank sheets of white paper in protest to avoid slogans banned under the city's new national security law, which was imposed after massive and sometimes violent protests the previous year. Several Internet users showed solidarity by posting blank white squares or photos of themselves holding blank sheets of paper on their WeChat timelines or on Weibo. By Sunday morning, the hashtag "white paper exercise" was blocked on Weibo, prompting users to lament the censorship.

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