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At least 11 people have been killed and 27 others reported missing, state broadcaster CCTV reported, while more than 127,000 people have been evacuated from the city. In Mentougou district, the average rainfall was more than 18 inches, according to data from Beijing’s meteorological service, while nearby Fangshan saw 16 inches of rain. The storm is the deadliest to hit Beijing since 2012 when floods killed 77 people – a toll that authorities initially tried to cover up. Before hitting Fujian, the typhoon had killed at least 39 people in the Philippines and lashed parts of southern Taiwan. At least 1,870 passengers and 68 staff had been stranded on two trains and were finally led to safe ground by Monday afternoon, Xinhua reported, citing Beijing’s state railway operator.

Persons: Doksuri, Pedro Pardo, Xi Jinping, ” Xi Organizations: CNN, CCTV, Beijing, Xinhua, Authorities Locations: Beijing, China, Mentougou district, Fangshan, Zhengzhou, Henan, Beijing's Mentougou, AFP, Fujian, Philippines, Taiwan, Guizhou, Mentougou, Zhangjiakou, Hebei, Zhejiang

☆ Cities brace for floods as heavier-than-usual storms drench China
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 21 (Reuters) - Rescue services braced for flooding as heavier-than-expected summer storms rolled across China as forecast on Friday, drenching Beijing and other major cities. Historically, China enters its peak rainy season in late July, but extreme weather has made storms more intense and unpredictable, exposing heavily built-up megacities with poor drainage to sudden floods and waterlogging. In Beijing, authorities have deployed this week over 2,600 people to drain 87 pumping stations in advance and clear thousands of water drainage outlets along roads, municipal authorities said in a statement on Friday. In July 2021, extreme rain in the central Henan city of Zhengzhou killed nearly 400 people, including 14 who drowned in a submerged subway line. Reporting by Ryan Woo and Liz Lee in Beijing; Editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: drenching, Ryan Woo, Liz Lee, Miral Organizations: Beijing Public Transport, Authorities, Xinhua, China Meteorological Administration, Thomson Locations: BEIJING, China, drenching Beijing, Beijing, Tianjin, Hebei, Inner Mongolia, Shanxi, Henan, Hubei, Jiangsu, Wuxi city, Gansu, Zhengzhou

"The luxury industry seems to be outperforming the consumer market as a whole in China, but you know, really, almost everyone you speak to, there's a level of uncertainty," said Agility's managing director Amrita Banta. "There's a level of not feeling entirely comfortable with their future economic position that is really affecting almost everybody in China." Those factors disproportionately affect "aspirational" luxury customers who can easily live without another Gucci bag or $900 pair of sneakers. In China, luxury consumers are younger than in the rest of the world with an average age of 28, according to BCG - something companies had seen as positive for future growth. "In the trends that I'm seeing in the U.S. and also in China, more aspirational younger consumers are feeling more of a pain," Morningstar senior equity analyst Jelena Sokolova said.

Persons: Richemont, splurge, Morgan Stanley, Hermes, Chanel, Amrita Banta, Dior, Balenciaga, Gucci, Jelena Sokolova, HSBC's Erwan, Rambourg, Casey Hall, Mimosa Spencer, Catherine Evans Organizations: Cartier, Citigroup, Richemont, Citi, LVMH, Bain, Morningstar, Thomson Locations: SHANGHAI, PARIS, China, North America, Wuhan, Zhengzhou, Charlotte, Nashville, Swiss, Americas, Asia, United States, luxury's, U.S, Japan

☆ Explainer: How is extreme weather testing China's climate resilience?
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +5 min

BEIJING, July 5 (Reuters) - Dramatic swings between extreme heat and intense rainfall are testing China's ability to cope with increasingly wild weather, as high temperatures challenge power grids and water security while floods ruin crops and threaten urban populations. The average number of high-temperature days stood at 4.1 in January-June, already higher than the full-year average of 2.2 days. Heatwaves spur demand for electricity to cool homes, malls and offices, taxing power supply and even triggering blackouts. Factories also shut when power demand exceeds supply to meet demand from residential and non-industrial users. The southern province of Hunan, which produces around 13% of China's rice, has been hit by continuous rain since late June.

Persons: Qiaoyi Li, Ethan Wang, Qin, Ryan Woo, Andrew Hayley, David Stanway, Sonali Paul Organizations: Factories, Thomson Locations: BEIJING, China, Beijing, Yunnan province, Yunnan, Sichuan, Hunan, Zhengzhou, Guangxi, CHINA

☆ 3 major companies trying to move supply chains out of China, and how they're faring in their attempts to move away from the factory of the world
▼ + stars: | 2023-06-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

Ted Cannis, a senior executive at Ford, told the Financial Times in December that there is a "large-scale rethinking of logistics operations" across the auto supply chain. "The supply chain is going to be the focus of this decade," Cannis said. Among the companies Apple is relying on to make the Vision Pro is Taiwan's Foxconn — which is the main supplier shifting its supply chain away from China. The move was made after China's COVID-19 lockdowns rocked supply chain and production timelines, but prices are the real driving reason behind the move. "Right now, robustness of our supply chain also needs to be considered to ensure the stable procurement of parts."

Persons: —, Donald Trump, lockdowns, COVID, Ashutosh Sharma, Forrester, Ted Cannis, Cannis, China's, Wellsenn, Cowell, Liu Young, TSMC, Morris Chang, Chips, Dylan Patel, SemiAnalysis, Tim Cook, Fang DongxuFeature, Mazda, China's COVID, Masahiro Moro, ", Moro Organizations: Mazda, Service, Privacy, East, Ford, Financial Times, Apple, Vision, Apple's, Cowell e Holdings, Future Publishing, Reuters Locations: China, India, Zhengzhou, Henan, Vietnam, Mexico, Taiwan, Arizona, Nanjing, Fang DongxuFeature China, Japan Japanese, Japan

☆ Cheap 'like cabbage' apartments in some Chinese cities draw buyers, and caution
▼ + stars: | 2023-06-16 | by ( Liangping Gao | Marius Zaharia | ) www.reuters.com time to read: +4 min

Real estate agents said low-cost apartments in smaller Chinese cities such as Huainan and Rushan in the east, and Gejiu in the southwest, are also being bought, largely by people living outside those locations. The deals come at a time the picture for China’s property market is getting darker. For buyers with the means to get back into the market, the rock-bottom prices of second-hand apartments in the smaller cities have been hard to resist. ‘BUYERS ARE NOT LOCALS’Real estate agents said buyers in the small cities are mostly from out of town. “The fact that there are so many people buying low-cost flats in smaller cities reflects caution,” said Hwabao Trust economist Nie Wen.

Persons: Hu Yongwei, Thomas Peter, Hu, “, Zhao, Liu Yong, Gejiu, ”, Nie Wen Organizations: Reuters, REUTERS, Beijing, Hwabao Locations: BEIJING, HONG KONG, Beijing, Hebi, Zhengzhou, Henan province, China, Huainan, Rushan, Anjuke, Chongqing, COVID

[1/3] A man looks at job information at an employment fair beside a street in Zhengzhou, Henan province, February 19, 2014. REUTERS/Jason LeeHONG KONG, June 1 (Reuters) - China's Henan province has unveiled a 100-day plan to "dynamically clear" youth unemployment as concern grows over record levels of joblessness among young adults, with millions more students due to graduate this year. The goal is to ensure "zero-dynamic clearing" for long-term unemployment and the "smooth employment of college graduates", the provincial Department of Education said in a social media post this week. Economists expect youth unemployment to become increasingly common in coming years as graduates enter the job market. The "dynamic zero clearing" term the education department used is reminiscent of the language authorities used in the fight against COVID, reflecting the level of concern about unemployment.

Persons: Jason Lee HONG, Farah Master, Robert Birsel Organizations: REUTERS, Department of Education, COVID, Thomson Locations: Zhengzhou, Henan province, Jason Lee HONG KONG, Henan, China, Beijing

☆ Foxconn sees AI driving strong server demand, but full year to be flat
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

"You can see the market for AI servers will rise much faster than expected. The Taiwanese company has a 40% global market share for servers and aims to further increase that, Liu added. In the first quarter, Foxconn's cloud and network products segment, which includes servers, accounted for 22% of revenue, second only to smart consumer electronics - which includes smartphones - at 56%. Foxconn, which assembles around 70% of iPhones, has been diversifying production away from China, whose strict COVID-19 restrictions disrupted its biggest iPhone plant last year. Liu said China, including its massive iPhone plant in China's Zhengzhou, remained very important for Foxconn.

Persons: Liu Young, Liu, Foxconn, Jun Seki, Ben Blanchard, Faith Hung, Christopher Cushing Organizations: Apple Inc, Hai Precision Industry Co, General Motor Co, Nissan, EV, Thomson Locations: TAIPEI, Lordstown , Ohio, EVs, Taiwan, United States, Indonesia, India, China, Beijing, Washington, China's Zhengzhou

☆ Chinese cities broil in heat, brace for more record temperatures
▼ + stars: | 2023-05-15 | by ( Bernard Orr | ) www.reuters.com time to read: +2 min

Recently, Yunnan province was gripped with temperatures of more than 40 Celsius, which is especially burdensome for power grids as millions of homes begin to switch on air conditioners. read moreOver the past couple days, Shandong province and Beijing issued heat warnings. Populous cities such as Jinan, Tianjin and Zhengzhou are expected to see temperatures soar to as high as 37 degrees Celsius. The China Meteorological Administration has warned regions to prepare for more extreme heat this year. The World Meteorological Organization's (WMO) latest assessment also predicts the strong likelihood of the El Niño weather phenomenon returning later this year.

Expressed in terms of annualised run-rates, China's output of 39.9 million tonnes last month was the lowest in a year and down by 1.6 million tonnes from August's record 41.5 million. China's aluminium production is now highly dependent on weather patterns in the south of the country. China's average daily aluminium output and monthly annualised changePRAYING FOR RAINYunnan province accounts for around 12% of China's aluminium capacity and produced 4.2 million tonnes in 2022. WESTERN PRODUCTION FLAT-LINESPrimary aluminium production outside of China was flat year-on-year in the first quarter. WEATHER WATCHHowever, China's dominant position in the global aluminium picture means that it holds the key to future production patterns.

☆ US bank run victims were bailed out in 3 days. In China, many have been waiting a year
▼ + stars: | 2023-04-21 | by ( Selina Wang | ) edition.cnn.com time to read: +9 min

CNN is not revealing the identities of the bank victims in order to protect their safety. Bank victims protest in Henan in July 2022. Experts say small banks in other parts of China could face the same crisis, as the world’s second largest economy faces a longer term structural slowdown. Some Chinese bank victims even say they’re living in fear of violent reprisals. CNN interviews bank victims in China.

☆ Why India is so important to Apple
▼ + stars: | 2023-04-18 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

Cook said in February that Apple had its best sales quarter ever for iPhones in India in the quarter ending in December. Most phones sold in India are priced below even the least-expensive new Apple iPhone. India could end up being a big winner as Apple looks for non-Chinese manufacturing options. Tim Cook, Apple's Chief Executive Officer (CEO) reacts as a man shows him Apple's Macintosh outside the Apple store at Jio World Drive mall, Mumbai, India on April 18, 2023. Apple was bullish on India back then, too: "India will be the most populous country in the world in 2022," Cook told CNBC's Jim Cramer at the time, saying it had "huge market potential."

☆ Apple to open first stores in India next week underscoring CEO Tim Cook's bullish view on the country
▼ + stars: | 2023-04-12 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

A view of Apple's first company-owned store in India to be launched inside the Jio World Drive mall at Bandra Kurla Complex (BKC) in Mumbai. Apple is set to open its first physical stores in India next week, highlighting the country's importance to the U.S. tech firm's future in iPhone sales and manufacturing,The Cupertino giant will open a store in Mumbai on Apr. Apple CEO Tim Cook may travel to India to open the stores, Bloomberg reported, citing people familiar with the matter. Apple is "putting a significant amount of energy" in India, Cook stressed at the time. The manufacturing push in India comes as Apple is looking to reduce its reliance on China, where it currently makes the bulk of its iPhones.

☆ Boeing says 11 Chinese airlines have resumed operating 737 MAX
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

BEIJING, April 11 (Reuters) - Boeing (BA.N) said on Tuesday that 11 Chinese airlines have resumed operation of the 737 MAX as of April 10, in a positive sign for the U.S. planemaker's attempts to rebuild its business in the world's second-largest aviation market. Based on these airlines, the number of 737 MAX returning to commerical service reached 43, accounting for approximately 45% of the Chinese 737 MAX fleet, the company also said in a social media post on its official WeChat account. Boeing did not name who the 11 airlines were but carriers including Hainan Airlines Holding Co Ltd (600221.SS), Fuzhou Airlines, Lucky Air and Air China (601111.SS) have flown the jets in the months since. "The move reaffirms our commitment to our civil aircraft customers in China," said Sherry Carbary, president of Boeing China. "The equipment upgrade allows us to further enhance our support for Chinese 737 MAX customers as they expand the aircraft's operations in and around China."

TAIPEI, March 15 (Reuters) - Apple Inc supplier Foxconn (2317.TW) said on Wednesday it expected smart consumer electronics demand would decline slightly this year, as it reported a 10% fall in fourth-quarter net profit from a year earlier, in line with analysts estimates. The world's largest contract electronics maker, which gets more than half of its revenue from consumer electronics, forecast significant growth this year in other areas such as computing, cloud and networking and component products. Net profit for the October-December quarter fell to T$40 billion ($1.31 billion) from T$44.4 billion in the same period the previous year, the company said. That was in line with an average forecast of T$39.98 billion profit by 13 analysts, according to Refinitiv. In the fourth quarter, revenue for its key consumer electronics products division was flat compared to a year ago, the company said in a statement, without elaborating.

☆ A TikTok ban or forced sale could lead to major collateral damage for US tech companies like Apple and Chinese apps like Shein
▼ + stars: | 2023-03-15 | by ( Dan Whateley | ) www.businessinsider.com time to read: +9 min

"A big Chinese balloon in the sky and millions of Chinese TikTok balloons on our phones. But US tech companies that rely on data collection for advertising sales or other business practices have fought to curb such regulations. Still, efforts by members of Congress to pass federal legislation around data privacy, such as the American Data Privacy and Protection Act, have faced an uphill battle. Apple's 2021 user privacy changes stunted ad revenue at Facebook and Snapchat-maker Snap, for example. But blocking companies from gathering private information from users could also be a more effective path to protecting Americans while maintaining an avenue for Chinese companies to participate in the global economy.

☆ Apple supplier Foxconn expects decline in consumer electronics demand, prioritizes global growth
▼ + stars: | 2023-03-15 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

Major Apple supplier Foxconn reported a 10% year-over-year decline in profit for 2022 and anticipated a decline in consumer electronics demand for the full year ahead, the company said in its earnings report Wednesday. The negative sentiment reflected Apple's muted expectations for consumer sales. The company added iPhone sales will decline less in the March quarter compared to the Dcember quarter. Taiwan-based Foxconn is a major manufacturer for consumer technology firms, but is best known for its relationship with Apple, which relies on Foxconn to produce and assemble its iPhone, among other products. The Chinese government has since pulled back on the most aggressive of its Covid protocols, but Apple and other major technology companies have emphasized to suppliers a need to diversify beyond China.

TAIPEI, March 15 (Reuters) - Apple Inc supplier Foxconn (2317.TW) on Wednesday said it plans to ramp up investment outside of China and efforts to attract automakers to its contract manufacturing business, as the company reported weaker demand for consumer electronics. Foxconn, which assembles around 70% of iPhones, has been diversifying production away from China, whose strict COVID restrictions disrupted its biggest iPhone plant last year. The company also seeks to avoid a potential hit to its business from mounting trade tensions between Beijing and Washington. "Foxconn will actively expand its EV business in North America and work more comprehensively with traditional and start-up car makers," Liu said. Liu said revenue from EV components is expected to rise sharply to between T$50 billion and T$100 billion this year from T$20 billion last year.

☆ The war against TikTok won't solve the 'national embarrassment' of how poorly the US protects your data
▼ + stars: | 2023-03-08 | by ( Dan Whateley | ) www.businessinsider.com time to read: +8 min

"A big Chinese balloon in the sky and millions of Chinese TikTok balloons on our phones. TikTok has hurt its own cause when it comes to its reputation around data privacy. For example, the company misrepresented how US user data was managed and then its parent company monitored the locations of reporters who exposed its practices. Still, efforts by members of Congress to pass federal legislation around data privacy, such as the American Data Privacy and Protection Act, have faced an uphill battle. Apple's 2021 user privacy changes stunted ad revenue at Facebook and Snapchat-maker Snap, for example.

☆ As parliament meets, China keeps would-be protesters at bay
▼ + stars: | 2023-03-07 | by ( Engen Tham | ) www.reuters.com time to read: +4 min

[1/2] Demonstrators hold up signs during a protest over the freezing of deposits by some rural-based banks, outside a People's Bank of China building in Zhengzhou, Henan province, China July 10, 2022, in this screengrab from video obtained by Reuters. Text in foreground reads, "Henan Bank, return to us our legal deposits! The people's life-saving deposits!" China has a low tolerance for group displays of discontent, even if anger is not directed against the government. Some of those who spoke with Reuters declined to use their full names due to the sensitivity of the matter.

The city of Zhengzhou in China has seen its fiscal revenue drop and total debt grow in recent years. As China tries to turn the page on one of its worst stretches of growth since the 1970s, its economy is being weighed down by the colossal debts of its local governments, which swelled during the pandemic and are starting to come to a head. Xi Jinping ’s zero-Covid campaign saddled cities with billions of dollars in unplanned expenditures for mass testing and lockdowns. The Chinese leader’s crackdown on excessive property-market leverage led to a sharp drop in land sales, depriving cities of one of their biggest revenue sources.

☆ Foxconn reports fall in Feb sales, sticks to Q1 outlook
▼ + stars: | 2023-03-05 | by ( ) www.reuters.com time to read: +2 min

Compared to the previous month, revenue dropped 39.12%, although cumulative sales for the first two months of the year jumped on-year 17.94% thanks to January's particularly strong performance when Zhengzhou operations began getting back on track. "Based on the revenue performance in the first two months, the outlook for first quarter 2023 is roughly in line with market expectation," Foxconn said without elaborating. Foxconn shares have risen 2.6% so far this year, underperforming the broader Taiwan market (.TWII) which is up 10.4%. The company reports fourth-quarter earnings on March 15, when it will also elaborate on its outlook. ($1 = 30.4980 Taiwan dollars)Reporting by Ben Blanchard; Editing by William Mallard and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Such efforts to attract foreign investment come as the pandemic and geopolitical tensions push companies to diversify their supply chains away from China. The Commerce Ministry said Thursday that for the first time, it would launch events for an "Invest in China Year." Apple later said the Zhengzhou factory disruptions would delay deliveries of some iPhone 14 models. He also noted "serious challenges" to attracting foreign investment. Those include unfair competition with local players in China due to industrial policies, lack of legal protection for foreign business in China and geopolitical risks, Wang said.

☆ Foxconn chairman meets senior officials in China's Henan - provincial govt
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Feb 22 (Reuters) - Foxconn Chairman Liu Young-way met with the party chief of China's Henan province, home to the company's iPhone plant that was hit late last year by a COVID-19 outbreak, the provincial government said on Wednesday. Liu, who departed on Tuesday for a four-day inspection of the plant in the provincial capital of Zhengzhou, has met Lou Yangsheng, the Communist Party chief of Henan province and Wang Kai, provincial governor, the statement said. Henan pledged broad support for businesses and hoped Foxconn would continue to expand in the province, the statement added. Reporting by Ethan Wang and Meg Shen; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ China's millennial managers are confronting a pissed-off wave of Gen-Z staff out to 'rectify' the workplace
▼ + stars: | 2023-02-22 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +8 min

China's Gen Z is out to "rectify" the workplace, and they want their millennial bosses to give in. The Weibo hashtag "The post-2000s generation is rectifying the workplace" is a forum filled with Gen Z rage. The hashtag documents Chinese Gen Z rage in all its varied formsIt is unclear exactly how the hashtag started. At times, the posts on the Gen Z workers' threads devolve into rants about their "evil" millennial bosses. The rumblings from Gen Z, however, stand in stark contrast to narratives about Chinese millennials that have dominated popular culture.

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