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☆ Putin is putting his bromance with Xi on full display — but China has reason to be wary
▼ + stars: | 2024-05-16 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Read previewChina's leader, Xi Jinping, rolled out the red carpet for his "old friend" Vladimir Putin on Thursday. For his part, Putin lavished praise on China, whose support has been vital during Russia's invasion of Ukraine. But underneath the pageantry and rhetoric, Xi is under mounting pressure over his alliance with Putin — and he has good reason to be wary of their "no limits" partnership. President Vladimir Putin and China's President Xi Jinping attend a concert marking the 75th anniversary of the establishment of diplomatic relations between Russia and China in Beijing. "Meeting with Putin now is Xi's way of showing that China will not bend to Western pressure," said Torigian.

Persons: —, Xi, Vladimir Putin, Putin, Putin —, Xi Jinping, ALEXANDER RYUMIN, Zhao Tong, Graeme Thompson, Thompson, Joseph Torigian, Ali Wyne Organizations: Service, Business, Getty, BBC, Carnegie Endowment, Eurasia Group, Putin, Financial Times, School of International Service, American University, Xi, International Crisis Locations: Russian, Soviet, China, Ukraine, Russia, Beijing, Europe, Moscow, United States, Washington ,, America, Russia's, West

☆ U.S. questions China's no-first-use nuclear call given buildup
▼ + stars: | 2024-05-16 | by ( ) www.cnbc.com time to read: +3 min

Referring also to Russia, Jenkins said China's nuclear buildup "raises the specter that United States may soon face two expansionary and significantly nuclear-armed peers." "Beijing's development of a larger, more diverse nuclear arsenal is deeply concerning, and raises questions about the trajectory of the PRC nuclear weapons program," she said. Jenkins was asked about China's call in February for states with the largest nuclear arsenals to negotiate a treaty on no-first-use of nuclear weapons against each other or to make a political statement in this regard. She said it was the first time the U.S. had heard such a proposal from China, underscoring the need for nuclear talks. "Our questions are, quite frankly, how does an idea for no-first-use really fit within their ongoing process of building up nuclear weapons?

Persons: Bonnie Jenkins, Jenkins, specter, hadn't Organizations: Senate Foreign Relations Locations: China, Washington, U.S, People's Republic of China, Russia, States

☆ Jamie Dimon says China's relationship with Russia will make it difficult for the US to fully engage with it
▼ + stars: | 2024-05-15 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

The US should embrace full engagement with China, but expect a hard time along the way, JPMorgan CEO Jamie Dimon told Sky News. This will remain difficult as long as China is close to Russia, he noted. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementJPMorgan CEO Jamie Dimon considers full US engagement as the right approach to China, but says obstacles will make it a difficult course to follow, he told Sky News. Chief among issues is Beijing's strengthening relationship with Moscow, Dimon told the outlet on Wednesday: "As long as China is kind of on the side of Russia, we're going to have a hard time."

Persons: Jamie Dimon, Dimons, —, Dimon, we're Organizations: JPMorgan, Sky News, Service, Business Locations: China, Russia, Beijing, Moscow

☆ China's biggest chipmaker SMIC warns of 'fierce' competition as it misses quarterly profit expectations
▼ + stars: | 2024-05-10 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

BEIJING, CHINA - DECEMBER 04: A logo hangs on the building of the Beijing branch of Semiconductor Manufacturing International Corporation (SMIC) on December 4, 2020 in Beijing, China. (Photo by VCG/VCG via Getty Images)Semiconductor Manufacturing International Corporation on Friday warned of intense competition in the chip industry after its first-quarter profit missed expectations. "Competition in the industry has been increasingly fierce and the pricing for commodity products basically follows the market trends," SMIC said on Friday during the firm's earnings call. SMIC, China's biggest contract chip manufacturer, is seen as critical to Beijing's ambitions of cutting foreign reliance in its domestic semiconductor industry as the U.S. continues to curb China's tech power. Revenue for the first quarter was $1.75 billion, up 19.7% from a year earlier, as customers stocked up on chips, SMIC said.

Persons: SMIC Organizations: Semiconductor Manufacturing International Corporation, Getty, Samsung Electronics, Revenue Locations: BEIJING, CHINA, Beijing, China, U.S, South

☆ European companies in China are under pressure from slower growth, overcapacity
▼ + stars: | 2024-05-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — European companies in China are finding it harder to make money in the country as growth slows and overcapacity pressures increase, according to a survey released Friday by the EU Chamber of Commerce in China. Only 30% of EU Chamber survey respondents said their profit margins were higher in China than their company's worldwide average — an eight-year low. Jens Eskelund EU Chamber of Commerce in China, presidentChina's economy is now far bigger than it was in 2015 and 2016. More than one-third of EU Chamber survey respondents said they observed overcapacity in their industry in the last year, and another 10% expect to see it in the near future. "This is not just European companies whining," Eskelund said.

Persons: Carlo D'Andrea, D'Andrea, Jens Eskelund, Eskelund, overcapacity Organizations: Nurphoto, Getty, EU Chamber of Commerce, EU, of Commerce, U.S, Bureau, Statistics, Cosmetics Locations: Minhou County, Fuzhou, China, BEIJING, Shanghai, Beijing

☆ Earnings Playbook: Stocks that are set to beat analysts' estimates next week
▼ + stars: | 2024-05-09 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

More than 450 S & P companies have reported earnings results in the first-quarter earnings season, with nearly 79% of firms surpassing Wall Street analysts' estimates, according to FactSet data. China-based e-commerce company JD.com stock has added about 11% in 2024. The company has typically exceeded Street earnings estimates 82% of the time, resulting in a more than 1% move in its stock after the results. JD YTD mountain JD.com stock. Other stocks that could be poised to surpass analysts' average earnings estimates next week include Baidu.com and Triumph Group .

Persons: Wall, JD Organizations: Wall Street, CNBC, Investment Group, Panamanian, Copa Holdings, CPA, Copa, Triumph Group Locations: China

☆ U.S. and China trade divisions threaten a 'reversal' for global economy, IMF official warns
▼ + stars: | 2024-05-08 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Carlos Barria | Afp | Getty ImagesDifferences between U.S.-led Western and China-aligned economic blocs threaten global trade cooperation and economic growth, a top official with the International Monetary Fund warned on Tuesday. IMF Deputy Managing Director Gita Gopinath said in a speech at Stanford University that events such as the global pandemic and Russia's invasion of Ukraine have disrupted global trade relations in ways not seen since the Cold War. "Increasingly, countries around the world are guided by economic security and national security concerns in determining who they trade with and invest in," she said, adding that this has resulted in countries increasingly picking sides between China and the U.S. Trade between the China and U.S. blocs has declined compared with trade among countries within the groupings, Gopinath said. The U.S. bloc mainly includes Europe, Canada, Australia and New Zealand, while China-leaning countries include Russia, Eritrea, Mali, Nicaragua and Syria.

Persons: Xi Jinping, Carlos Barria, Gita Gopinath, Gopinath Organizations: National Committee, China Relations, China Business Council, Economic Cooperation, APEC, Afp, International Monetary Fund, Stanford University, U.S, IMF, Trade, West Locations: Asia, San Francisco , California, China, Ukraine, Washington, Beijing, U.S, South, Taiwan, Europe, Canada, Australia, New Zealand, Russia, Eritrea, Mali, Nicaragua, Syria

☆ U.S. eyes curbs on China's access to AI software behind apps like ChatGPT
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: +3 min

The Biden administration is poised to open up a new front in its effort to safeguard U.S. AI from China with preliminary plans to place guardrails around the most advanced AI Models, the core software of artificial intelligence systems like ChatGPT, sources said. The Commerce Department is considering a new regulatory push to restrict the export of proprietary or closed source AI models, whose software and the data it is trained on are kept under wraps, three people familiar with the matter said. Currently, nothing is stopping U.S. AI giants like Microsoft -backed OpenAI, Alphabet's Google DeepMind and rival Anthropic, which have developed some of the most powerful closed source AI models, from selling them to almost anyone in the world without government oversight. When that level is reached, a developer must report its AI model development plans and provide test results to the Commerce Department. That computing power threshold could become the basis for determining what AI models would be subject to export restrictions, according to two U.S. officials and another source briefed on the discussions.

Persons: Biden, Peter Harrell Organizations: 14th China, Public Safety, China International Exhibition Center, The Commerce Department, Commerce Department, Embassy, Microsoft, Google, Government, National Security Council Locations: Beijing, China, Washington, U.S

☆ China's hype video for its lunar base showed what looked like a NASA Space Shuttle lifting off, which it then realized and tried to fix
▼ + stars: | 2024-05-06 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

China's new teaser for its lunar base appeared to show a NASA Space Shuttle taking off. The Space Shuttle was later blurred out in a state media version of the CGI video. AdvertisementA new concept video showcasing China's planned lunar base appeared to feature a NASA Space Shuttle lifting off from the facility — a detail that was then omitted in a later broadcast of the clip. Related storiesIt's unclear if showing a Space Shuttle was intended by China's space administration, but the spacecraft using a Chinese base in 2045 would be nearly impossible. Beijing says it plans for its international lunar base to be built jointly by other countries as a collaborative effort.

Persons: —, CNSA, It's, Artemis Organizations: NASA Space Shuttle, Shuttle, Service, China National Space Administration, Research, American, NASA, Space, Orbiter, Getty, Orion Spacecraft, Elon, SpaceX, International Space, Space Shuttle, Business Insider Locations: China, Beijing

☆ China's president arrives in Europe to reinvigorate ties at a time of global tensions
▼ + stars: | 2024-05-05 | by ( ) www.cnbc.com time to read: +2 min

Chinas President Xi Jinping (L) and his French counterpart Emmanuel Macron attend the official welcoming ceremony in Beijing on April 6, 2023. Chinese President Xi Jinping kicked off a three-country trip to Europe on Sunday with the continent divided over how to deal with Beijing's growing power and the U.S.-China rivalry. Xi starts Sunday in France, whose president wants Europe to have more economic and strategic independence from other world powers. Then the Chinese president heads to Serbia and Hungary, both seen as China-friendly and close to Russian President Vladimir Putin, and recipients of substantial Chinese investment. On Monday French President Emmanuel Macron will treat the Chinese leader to formal honors of a full state visit.

Persons: Xi Jinping, Emmanuel Macron, China's, Xi, Vladimir Putin, Gabriel Attal –, Ursula von der Leyen Organizations: U.S ., EU, Paris, Airport, French, Monday, European Locations: Beijing, Europe, U.S, China, Russia, Ukraine, Russian, France, Serbia, Hungary, Washington, Tibet, Paris

☆ China has a lot more missiles — with US warships and bases in its sights
▼ + stars: | 2024-05-04 | by ( Chris Panella | ) www.businessinsider.com time to read: +18 min

American warships and bases in the Pacific are within reach of an increasingly worrying threat, a missile force unlike anything the US has faced in combat. With these missiles, China is signaling that it could attack US bases and ships in the region with little to no warning, Clark said. TK Department of DefenseThere's a lot more to the Chinese Rocket Force than these weapons, though. AdvertisementThat said, the US and its allies can't afford to assume the Rocket Force won't be ready should conflict come. In other words, how the US prepares itself and adapts to the Chinese Rocket Force gives it the best shot at avoiding a fight altogether.

Persons: China's, Andersen, Thomas Shugart, Bryan Clark, John Aquilino, Kevin Frayer, Harry Harris, Harris, Clark, Shugart, Gerald R, Kendall Warner, Byrd, US Defense Department Harris, Robert Peters, Peters, Ronald Reagan, Andrea Rosembert, Cpl, Ryan Little, Charles Flynn, I'm, Flynn, it's, Andy Wong Organizations: Business, Army Rocket Force, Pentagon, China's Rocket Force, Department of Defense TK Department of Defense, Center, New, New American Security, US Navy, PLA, Hudson Institute, Pacific Command, People's Liberation Army Rocket Force, Eastern Theater Command, People's Liberation Army PLA, Getty, Rocket Force, Liberation, TK Department of Defense, Chinese Rocket Force, US Defense Department, Ford, Virginian, Tribune, Service, Japan, Self, Defense Force, Misawa Air Base, Pacific, US, Defense, Aegis Ballistic Missile Defense, Army, Heritage Foundation, Aegis, Guam, Area, Ronald, Ronald Reagan Ballistic Missile Defense, Department of Defense, US Air Force, Marine Corps, Andersen Air Force Base, Marine, Combat, US Army Pacific, Stealth, Force, Military Locations: Beijing, China, American, Guam, South, Washington, Japan, New American, People's Republic of China, South Korea, Taiwan, South China, AFP, U.S, Marshall, Pearl, Pacific, PLARF, Tiananmen

☆ China's 'unprecedented' space mission blasts off to the far side of the moon to collect samples
▼ + stars: | 2024-05-03 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

A Long March 5 rocket, carrying the Chang'e-6 mission lunar probe, lifts off as it rains at the Wenchang Space Launch Centre in southern China's Hainan Province on May 3, 2024. China on Friday launched a space probe to collect samples from the far side of the moon in a mission that has been billed as "unprecedented" as the global space race heats up. An unmanned rocket carrying the Chang'e-6 lunar probe took off from Wenchang Space Launch Center in Hainan province just before 5:30 p.m. local time, kickstarting the 53-day planned mission. The expedition aims to return around 5 pounds of lunar samples to Earth for analysis. "Collecting and returning samples from the far side of the moon is an unprecedented feat," Wu Weiren, chief designer of China's lunar exploration program, said, according to Chinese state news agency Xinhua News.

Persons: Wu Weiren, Stephen Whiting Organizations: Xinhua News, Scientists, U.S, U.S . Space Command Locations: Hainan Province, China, Hainan, Beijing

☆ China's true military spending in 2022 was likely worth $711 billion, or 'nearly equal' to the US military budget that year: US think tank
▼ + stars: | 2024-05-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

A new report says China's $229 billion military budget in 2022 was actually equivalent to $711 billion. AdvertisementIn June 2023, Sen. Dan Sullivan of Alaska warned Congress that China's military was catching up to America's faster than previously imagined. That makes Beijing's spending in 2022 "nearly equal" to the US defense budget of about $740 billion that year, wrote Eaglen, a senior fellow at AEI. Using that factor, Eaglen wrote that it's highly likely China's spending on personnel that year was worth $293 billion of US military spending. US military spending is also often cited as higher than the actual defense budget.

Persons: —, Sen, Dan Sullivan, Mackenzie Eaglen, Sullivan, Eaglen, haven't Organizations: AEI, Service, Republican, American Enterprise Institute, Pentagon, Beijing, United Nations, Labor, US Army, People's Armed Police, Liberation Army's, Publishing, Getty, China's, Guard Locations: Alaska, Beijing, Washington, China, Nanning, South, Guangxi Zhuang Autonomous, United States

☆ How China and Russia are reportedly using 'underground' channels to get around sanctions
▼ + stars: | 2024-04-29 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Chinese exporters are reportedly going "underground" as domestic banks pullback from transaction business with Russia, Reuters reported. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTighter US scrutiny of Beijing's trade ties is sending domestic exporters underground, Reuters exclusively reported on Monday. "Transactions between China and Russia will increasingly go through underground channels," a Chinese trade body head told Reuters: "But these methods carry significant risks." This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Reuters, Service, Business Locations: Russia, Moscow, China

☆ Tesla stock set to surge 10% on Elon Musk's China full self-driving 'home run'
▼ + stars: | 2024-04-29 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Tesla's stock price jumped 10% in Monday's premarket as traders reacted to Elon Musk's China trip. Musk seems to have won key support for rolling out Tesla's autonomous driving technology in China. The Wall Street Journal reported that China's government had signaled to Musk that it would support Tesla's full self-driving rollout. Signs of slowing demand in China have dragged on Tesla's stock price in recent months, although shares rallied last week after Musk's company said it planned to launch cheaper models in 2025. "Musk winning FSD approval in the key China market is a watershed moment for the Tesla story in our view," Ives said in a note seen by BI.

Persons: Wedbush's Dan Ives, —, Tesla, Elon Musk, Premier Li Qiang, Dan Ives, Ives Organizations: Service, Tesla, Baidu, Bloomberg, Premier, Street Journal, BI Locations: Monday's premarket, Elon Musk's China, China, Beijing

☆ China is gradually amping up its military aggression in a 'boiling frog' strategy, US Indo-Pacific commander says
▼ + stars: | 2024-04-29 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

AdvertisementAquilino, who led US forces in the Indo-Pacific for three years, cited two major conflict points involving China — Taiwan and the Second Thomas Shoal. I've watched it increase in scope and scale, it is not slowing down," Aquilino told the FT. During his tenure overseeing the region, Aquilino repeatedly warned of China as a primary growing danger to its neighbors. Paparo, on his part, has also named China as one of the most pressing threats to US military interests in the region. AdvertisementThe Chinese Embassy in Washington did not immediately respond to a request for comment sent outside regular business hours by Business Insider.

Persons: —, Adm, John Aquilino, Thomas, Aquilino, That's, Samuel Paparo Organizations: Service, Financial Times, Business, Coast Guard, Philippine Coast Guard ship, Pacific Command, Pentagon, Embassy Locations: China, Beijing, Taiwan, Thomas Shoal, Philippines, Spratly Islands, South China, Washington

☆ The red flags that will tell us when China's actually ready to invade Taiwan
▼ + stars: | 2024-04-27 | by ( Chris Panella | ) www.businessinsider.com time to read: +12 min

"I don't think they lack for anything that they need," Lyle Goldstein, director of Asia engagement at Defense Priorities, said of China's forces. Military forces are being deployed nearer to Taiwan than ever, effectively shortening Taiwan's reaction time. Stockpiling of China's rocket force, too, suggests it would have more than enough missiles and rockets to target Taiwan. One common concern is that as China's military exercises around Taiwan have grown in frequency and size, the line between exercise and potential attack is becoming blurred. Xie Huanchi/Xinhua via Getty ImagesExperts, as well as US and Taiwan lawmakers and military officials, have long debated about the readiness of the People's Liberation Army as China's military is known.

Persons: —, Lyle Goldstein, Stringer China, Xi, Thomas Shugart, who's, Shugart, Goldstein, Mike Studeman, Xi Jinping, Dean Cheng, haven't, Cheng, Xie Huanchi, There's, Kyle Amonson, Dane Egli, Annabelle Chih, Getty Images Goldstein, Joe Biden Organizations: Service, Business, Defense, REUTERS, Taiwan's, Taiwan's Ministry of Defense, US Department of Defense, China Economic, Security, PLA, Patriot, US, Center, New, New American Security, Marine Corps, China Coast Guard, Scarborough, ROSA, Military, of Naval Intelligence, Pacific Command, US Institute of Peace, of, People, Getty Images, People's Liberation Army, CCP, Soviet, Center for Strategic, International Studies, Japan, US Coast Guard, Chinese Communist Party, Democratic Progressive Party, Kyodo, Stills Locations: China, Taiwan, Asia, Liaoning, Beijing, New American, AFP, Hong Kong, Xinhua, DoD's China, Cuba, US, Tainan, Japan, Philippines

U.S. Secretary of State Antony Blinken waves as he prepares to depart Shanghai Hongqiao International Airport en route to Beijing, on April 25, 2024. The U.S. and China will hold their first high-level talks on artificial intelligence within the "coming weeks," U.S. Secretary of State Anthony Blinken said Friday, providing no update over the future of Chinese social media giant TikTok. During wide-ranging talks with Chinese officials in Beijing, Blinken said the two sides had agreed to the first U.S.-China intergovernmental dialogue on AI to discuss the risks and safety concerns surrounding the emerging technology. The U.S. imposed restrictions on Beijing's ability to access high-end tech and is moving close to banning social media app TikTok, unless its Chinese parent ByteDance sells it. Speaking at a press conference, Blinken said that TikTok "did not come up" in the talks.

Persons: Antony Blinken, State Anthony Blinken, Blinken Organizations: State, U.S Locations: Shanghai Hongqiao, Beijing, U.S, China

☆ Solar manufacturers petition U.S. to impose tariffs on imports from four Southeast Asian nations
▼ + stars: | 2024-04-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

A coalition of U.S. solar manufacturers petitioned the federal government on Wednesday to impose tariffs on imports from four Southeast Asian nations, alleging that the countries are flooding the U.S. market with cheap products that threaten the domestic industry. The other six parties to the petition are Convalt Energy, Meyer Burger, Mission Solar, Qcells, REC Silicon and Swift Solar. They are requesting that the Commerce Department impose tariffs on solar cell imports from the four countries as a remedy. "This case is bad news for clean energy jobs and American solar manufacturing," Array CEO Kevin Hostetler said in a statement Wednesday. The ITC and Commerce Department investigations will take about 12 months to conclude, Brightbill said.

Persons: Meyer Burger, Tim Brightbill, Joe Biden, Brightbill, Kevin Hostetler, Janet Yellen, Biden Organizations: U.S, Convalt Energy, International Trade Commission, Commerce, ITC, Initiative, Commerce Department, Solar Energy Industries Association, American Clean Power Association, Advanced Energy, American Council, Renewable Energy, Technologies, International Energy Agency, IEA, CNBC Locations: Zhangye city, Gansu province, China, Cambodia, Malaysia, Thailand, Vietnam, U.S, The U.S, Beijing's

☆ The US and China are engaging more. But that doesn't mean they trust each other more, an analyst said.
▼ + stars: | 2024-04-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

US and China's engagements don't mean they trust each other more, said Eurasia Group's Ian Bremmer. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But just because they're talking more doesn't mean that they actually trust each other more, an analyst said on Wednesday. Earlier this month, Treasury Secretary Janet Yellen visited China, seeking cooperation in areas beneficial to both countries. Advertisement"It's always better to have more engagement, more conversations — especially when you don't trust each other," Bremmer said.

Persons: Ian Bremmer, —, Joe Biden, Xi Jinping, there's, Bremmer, Janet Yellen, Lloyd Austin, State Anthony Blinken, William Lai — Organizations: Service, Eurasia Group, Bloomberg, APEC, Defense, State Locations: Eurasia, Ian Bremmer . Washington, China, Taiwan, San Francisco, US, Washington, Taiwan —, Beijing

☆ China's 'Netflix' iQiyi pivots toward an aging population in an AI era
▼ + stars: | 2024-04-23 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Chinese video streaming platform iQiyi is turning its attention to the country's aging population, while using artificial intelligence tools to bolster content production. One of iQiyi's near-term goals is to improve the product offering for older users, CEO and founder Gong Yu said Tuesday at the company's annual conference. Gong also pointed to estimates that predict about one-fourth of China's population will be considered elderly in 2033, rising to one-third in 2053. Fewer children, Gong said, means each child becomes more important. He said iQiyi would improve the quality of its content for children.

Persons: Gong Yu, Gong Organizations: Netflix, CNBC Locations: China, U.S, BEIJING, iQiyi's

☆ Germany arrests three suspected of spying for China
▼ + stars: | 2024-04-22 | by ( ) www.cnbc.com time to read: +1 min

Three German nationals have been arrested on suspicion of working with the Chinese secret service to hand over technologies that could be used for military purposes, German prosecutors said on Monday. The suspects were identified as Herwig F. and Ina F, a married couple who run a company in Dusseldorf, and Thomas R., whom prosecutors described as an agent for an employee of China's Ministry of State Security (MSS). The Chinese contract partner was the MSS employee from whom Thomas R. received his orders, it added. The suspects also purchased a special laser from Germany on behalf of and with payment from the MSS and exported it to China without authorisation, according to the prosecutors. The Chinese embassy in Berlin did not immediately respond to a request for comment.

Persons: Herwig, Ina F, Thomas R, Olaf Scholz Organizations: China's Ministry of State Security, Russia Locations: Dusseldorf, Germany, China, Beijing, Europe, Berlin

☆ Blinken to warn China over its support for Russia’s military during this week's visit
▼ + stars: | 2024-04-22 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

US Secretary of State Antony Blinken (L) and China's Foreign Minister Qin Gang shake hands ahead of a meeting at the Diaoyutai State Guesthouse in Beijing on June 18, 2023. U.S. Secretary of State Antony Blinken will warn China about its support for Russia's military during his visit to the country this week, according to a senior State Department official. Blinken is expected to convey Washington's "deep concerns" over China's aid for Russia's defense industrial base, during his three-day visit starting Wednesday. "And I think we've demonstrated our willingness to do so regarding firms from a number of countries, not just China," he added. During his visit to Beijing and Shanghai, Blinken is expected to meet senior Chinese officials, including Foreign Minister Wang Yi, according to the State Department.

Persons: Antony Blinken, Qin Gang, Blinken, We're, Wang Yi, Xi Jinping Organizations: China's Foreign, State Department Locations: Diaoyutai, Beijing, China, Ukraine, Europe, U.S, Shanghai, Blinken

☆ Beijing half-marathon winner stripped of medal after 3 African runners let the Chinese athlete overtake, video appears to show
▼ + stars: | 2024-04-20 | by ( Cameron Manley | ) www.businessinsider.com time to read: +3 min

Organizers of Beijing's half-marathon stripped the winner of his gold medal, say reports. Video evidence appeared to show African runners slow to allow China's He Jie to overtake and win. Robert Keter then waves at He to overtake and signals to the other two African runners to pull back. AdvertisementThe investigation revealed the three African runners to be pacemakers, hired by Chinese sports company Xtep, which sponsored both He and the Beijing Half Marathon, but it did not inform the organizers. AdvertisementAll four runners' results have been revoked, and they will be stripped of their trophies, medals, and bonuses.

Persons: Jie, Kenya'sWilly Mnangat, —, Kenya's Robert Keter, Willy Mnangat, Mnangat, Robert Keter, Xtep, Zhong'ao Organizations: Service, Guardian, BBC Sport, South China Morning, World, Sports Management Co Locations: Beijing, BBC Sport Africa

☆ China may be shaking out of its slump, and its economy could grow 5% this year after a surprising first-quarter performance, BofA says
▼ + stars: | 2024-04-19 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

China's breakout from its economic slump may also mean less government support ahead, BofA said. BofA doesn't expect a "a full-blown growth rebound" as real estate woes and weak demand are still a problem. AdvertisementBank of America boosted its forecast for China's economic growth in 2024 on the heels of a surprisingly strong first-quarter performance from the world's second-largest economy. AdvertisementWith a robust first quarter dataset in hand, policymakers may be less inclined to intensify easing measures, dashing hopes for imminent policy support, according to the bank. The analysts wrote that they anticipate a gradual growth deceleration through the rest of 2024 as policy support wanes.

Persons: BofA, —, Helen Qiao, wasn't Organizations: of America, Service, Bank of America, FAI Locations: China

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