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☆ China’s Xi says countries share responsibility to promote growth, opposes decoupling
▼ + stars: | 2023-07-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Chinese President Xi Jinping said Tuesday that Beijing opposes "decoupling and breaking links," according to a CNBC translation of a Chinese-language state media readout. Promoting economic growth is the shared responsibility of countries in the region, Xi said, per the report of his remarks at a virtual summit of the Shanghai Cooperation Organization. The SCO is a political, security and trade alliance whose members are China, India, Russia, Kazakhstan, Kyrgyzstan, Pakistan, Iran, Tajikistan and Uzbekistan. China is willing to work with all parties to implement the Global Development Initiative, and make the "cake" bigger so that people in different countries can benefit, the state media report of Xi's remarks said. The country opposes protectionism, unilateral sanctions and generalizing the concept of national security, the report also said Tuesday.

Persons: Xi Jinping, Xi, Xi's Organizations: National Congress, Communist Party of China, of, People, CNBC, Shanghai Cooperation Organization, SCO, Global Development Initiative, Global, Initiative, United Nations Locations: Beijing, China, BEIJING, India, Russia, Kazakhstan, Kyrgyzstan, Pakistan, Iran, Tajikistan, Uzbekistan, Saudi Arabia

☆ China's central bank gets a new party secretary
▼ + stars: | 2023-07-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Pan Gongsheng was named party secretary of the People's Bank of China on July 1, 2023. BEIJING — The People's Bank of China announced Saturday that Pan Gongsheng, head of the country's foreign exchange regulator, would become the central bank's party secretary. In a country ruled by the Communist Party of China, the party secretary of an institution typically holds the most sway. That institution was absorbed into the National Financial Regulatory Administration in a financial regulatory overhaul announced in March and is set to take effect this year. The administration's party secretary and director is Li Yunze, a rare minister-level appointee of the younger 1970s generation.

Persons: Pan Gongsheng, Gongsheng, Xi Jinping, Guo Shuqing, Li Yunze Organizations: People's Bank of China, Communist Party of China, China Banking, Insurance, Commission, National Financial Regulatory Administration Locations: BEIJING, Beijing, China

☆ China leads tech race, highlighting need for AUKUS sharing, says think-tank
▼ + stars: | 2023-06-05 | by ( Kirsty Needham | ) www.reuters.com time to read: +4 min

The U.S. leads quantum computing - the next generation of computers expected to solve once unsolvable problems and enable faster communication. Quantum sensors could be used in threat detection for defence, ASPI said. The combined strength of AUKUS nations made them competitive with China in half of the technologies, it said. The transfer of nuclear-powered submarine technology -- an area where the U.S. holds a capability edge over China -- to Australia is the highest-profile AUKUS project. The legislative proposals are "necessary steps for the AUKUS nuclear-powered submarines program," Conroy said in a statement.

Persons: Read, ASPI, for Defence Industry Pat Conroy, Conroy, Joe Biden, Kirsty Needham, William Maclean Organizations: National Congress, Communist Party of, Australian Strategic Policy Institute, China, for Defence Industry, U.S . Congress, U.S . Navy, Thomson Locations: Communist Party of China, SYDNEY, China, Australia, Britain, U.S, Beijing, Russia, Germany, Baltic, The U.S, Moscow, . Virginia, Virginia, Sydney

HONG KONG, May 31 (Reuters) - An absence of women among China's top leadership is concerning, the United Nations said in a report, as it recommended China adopt statutory quotas and a gender parity system to quicken equal representation of women in government. The committee said that while China's representation of women in political and public life has increased, it was concerned that women only represent 26.54% of deputies to the 14th National People's Congress. It urged China to increase the number of women in all government bureaus including the judiciary and foreign service, particularly at decision making levels. The committee said it was concerned about the excessive restrictions on the registration of non-governmental organisations as well as reports of intimidation and harassment against women human rights defenders. Feminist voices have also been muzzled and in recent years, the government has increasingly emphasized the value of traditional roles for women as mothers and carers.

Persons: Xi, Martin Pollard, Raju Gopalakrishnan Organizations: United Nations, quicken, UN, Leste, National People's, Communist, Thomson Locations: HONG KONG, China, Germany, Iceland, Sao Tome, Principe, Slovakia, Spain, Timor, Venezuela, Beijing

☆ Is TikTok’s time up? CEO’s skewering before Congress raises questions about app’s future in the US
▼ + stars: | 2023-03-23 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

“TikTok’s fate in the US is on shakier ground than ever following lawmakers’ grueling questioning of Chew,” Insider Intelligence principal analyst Jasmine Enberg said. The 40-year-old Harvard-educated Chew was never going to get a warm welcome from US lawmakers. Chew, welcome to the most bipartisan committee in Congress,” Republican Rep. That said, Chew needed to provide clear, direct answers to questions posed by lawmakers, particularly those regarding fears of potential Chinese authority over the company. Instead, his murky answers on questions pertaining to the Communist Party of China led to added confusion at times.

☆ China revives ruling party control of financial oversight
▼ + stars: | 2023-03-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Greg Baker | Afp | Getty ImagesBEIJING — The ruling Communist Party of China is establishing commissions to oversee finance and tech, state media announced Thursday. A new "Central Financial Commission" is set to strengthen the party's "centralized and unified leadership over financial work," state media said Thursday in Chinese, according to a CNBC translation. watch nowWhile state media did not specify, a financial work commission of the same name had been set up in the aftermath of the 1998 Asian financial crisis. Responsibilities of that party commission are borne by the restructured Ministry of Science and Technology. The State Council changes established a National Financial Regulatory Administration to oversee most of the financial industry — except for the securities industry.

According to CNBC analysis of state media reports, 7.7 million people took the civil service exam in the 2023 application round, vying for more than 200,000 government jobs at the national and provincial level. Qilai Shen | Corbis Historical | Getty ImagesA record number of people in China took the civil service exam this year, as unemployment among young people soared. According to CNBC analysis of state media reports, 7.7 million people took the civil service exam in the 2023 application round, vying for more than 200,000 government jobs at the national and provincial level. China's National Civil Service Administration could not be reached for comment despite multiple attempts by CNBC. However, Xi and other senior leaders did not need to take the civil service exam to gain their current roles.

For Saudi Arabia, a deal could mean improved security. Saudi Arabia, Washington's most important Arab ally, began exploring ways to open a dialogue with the Islamic Republic two years ago in Iraq and Oman, said a Saudi official. In a bilateral meeting with Crown Prince Mohammed bin Salman, the president expressed his desire to broker dialogue between Saudi Arabia and Iran. CHINESE MEDIATION 'BEST OPTION'An Iranian official said the deal covered a range of issues, from security concerns to economic and political issues. "China was the best option considering Iran's lack of trust towards Washington and Beijing's friendly ties with Saudi Arabia and Iran.

White House spokesperson John Kirby said on Friday that while Washington was not directly involved, Saudi Arabia kept U.S. officials informed of the talks with Iran. NUCLEAR TALKSThe agreement comes as Iran accelerates its nuclear program after two years of failed U.S. attempts to revive a 2015 deal that aimed to stop Tehran producing a nuclear bomb. "Saudi Arabia is deeply concerned about Iran's nuclear program," he said. "If this new opening between Iran and Saudi Arabia is going to be meaningful and impactful, it will have to address the concerns about Iran's nuclear program - otherwise the opening is just optics." Friday's agreement also offers hope for more durable peace in Yemen, where a conflict sparked in 2014 has widely been seen as a proxy war between Saudi Arabia and Iran.

☆ China's Xi gains unprecedented third term as president
▼ + stars: | 2023-03-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

Chinese President Xi Jinping is pictured here on Oct. 23, 2022, after consolidating his control of the ruling Communist Party of China. BEIJING — Chinese leader Xi Jinping gained an unprecedented third term as president of the country on Friday. Xi was widely expected to stay on as president in this month's largely ceremonial parliamentary meeting, known as the "Two Sessions." Xi rose through China's political ranks, becoming president in 2013 and abolishing term limits in 2018. At the Chinese Communist Party's 20th National Congress in October, Xi consolidated his control of the ruling party by filling the highest circle of leadership with loyalists.

☆ Saudi, Iran restoration of ties a 'victory for dialogue'-China’s Wang Yi
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +2 min

China Daily via REUTERSBEIJING, March 10 (Reuters) - The successful talks between Iran and Saudi Arabia in Beijing are a victory for dialogue and peace, China's top diplomat Wang Yi said on Friday, following the major diplomatic coup for China in Middle East geopolitics. Iran and Saudi Arabia agreed on Friday to re-establish relations after seven years of hostility which had threatened stability and security in the Gulf and helped fuel conflicts in the Middle East from Yemen to Syria. In the statement, the three parties expressed their willingness to make "every effort" to strengthen international and regional peace and security. "As a good-faith and reliable mediator, China has faithfully fulfilled its duties as the host," Wang said. Reporting by Ethan Wang and Ryan Woo; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ China plans to revamp finance, tech oversight
▼ + stars: | 2023-03-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Lintao Zhang | Getty Images News | Getty ImagesBEIJING — China plans to overhaul its financial regulatory system by consolidating aspects of the central bank and securities regulator under a new entity, while doing away with the existing banking regulator. The moves also come as Beijing has increased regulation on parts of the economy that had developed quickly, with little oversight. The latest plan calls for the establishment of a National Financial Regulatory Administration, which replaces the China Banking and Insurance Regulatory Commission and expands its role. watch nowThe China Securities Regulatory Commission's investor protection responsibilities are set to shift to the new financial regulator. "China's consolidated financial regulatory body is [a] paradigm shift to ramp up oversight of its vast financial system," said Winston Ma, adjunct professor of law at New York University.

Previously the Communist Party chief in Shanghai, Li is poised to be confirmed as premier on Saturday during the ongoing National People's Congress, charged with managing the world's second largest economy. Trey McArver, co-founder of consultancy Trivium China, said Li is likely to be much more powerful than his predecessor. "Officials know that Li Qiang is Xi Jinping's guy," he said. "He clearly thinks that Li Qiang is a very competent person and he has put him in this position because he trusts him and he expects a lot of him." American author Robert Lawrence Kuhn, who met Li and Xi together in 2005 and 2006, said the two shared an easy rapport.

REUTERS/Tingshu WangHONG KONG/BEIJING/SHANGHAI, March 3 (Reuters) - As unprecedented protests against China's zero-COVID policies escalated in November, Li Qiang, the man recently elevated to No.2 on the ruling Communist Party's Politburo Standing Committee, seized the moment. Meanwhile, some local-level party workers and healthcare officials were grappling with growing challenges in implementing the zero-COVID policy. "From my perspective, it's not that we set out to relax the zero-COVID policy, it's more that we at the local level were simply not able to enforce the zero-COVID policy anymore," the official said. In mid-November, when Xi was still in Southeast Asia, he ordered Chinese authorities to "unswervingly" execute the zero-COVID policy, said two of the people, after which some cities retightened curbs. Xi's vacillating led to renewed debate on COVID policy among top leaders during mid to late November, one of these people and another person said.

☆ U.S. handling of balloon incident 'hysterical', says China's top diplomat
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +2 min

Feb 18 (Reuters) - China's top diplomat Wang Yi said on Saturday that the U.S. handling of the balloon incident had been "unimaginable" and "hysterical" - an "absurd" act that had violated international norms. The incident, which had prompted U.S. Secretary of State Antony Blinken to postpone a planned visit early this month to Beijing, has further aggravated already strained relations between Washington and Beijing. "We ask the U.S. to show its sincerity and correct its mistakes, face up and resolve this incident, which has damaged Sino-U.S. relations," he said. "We hope the U.S. could pursue a pragmatic and positive policy towards China, and work with China to push Sino-U.S. relations back to the track of healthy development." Reporting by Ryan Woo in Beijing; editing by Jason Neely and Clelia OzielOur Standards: The Thomson Reuters Trust Principles.

☆ China's top diplomat reiterates calls for dialogue over Ukraine crisis
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +1 min

Feb 18 (Reuters) - China has "neither stood by idly nor thrown fuel on the fire" regarding the crisis in Ukraine, and continues to call for peace and dialogue, top diplomat Wang Yi said at the Munich Security Conference on Saturday. China will set out its position on settling the Ukraine crisis in a document that will state all countries' territorial integrity must be respected, Wang said. Asked to reassure the audience that military escalation was not imminent over the Taiwan Strait, Wang said Taiwan "independence forces" are incompatible with peace. "If we want to maintain peace across the Taiwan Strait, we must resolutely oppose Taiwan independence, and we must resolutely maintain the one-China policy." Reporting by David Kirton in Shenzhen, China, Ryan Woo in Beijing and Laura Lin in Shanghai; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ China's top diplomat to attend Munich Security Conference, visit Russia
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Feb 13 (Reuters) - China's top diplomat Wang Yi will attend the Munich Security Conference this month and plans to visit several countries including Russia, the Chinese foreign ministry said on Monday. Wang, director of the Office of the Foreign Affairs Commission of the Communist Party of China (CPC) Central Committee, will also visit France, Italy and Hungary this month, spokesperson Wang Wenbin said at a regular press briefing. The 59th Munich Security Conference will be held over Feb. 17-19, with several global leaders attending, including U.S. Vice President Kamala Harris. (This story has been refiled to correct to Wang on second reference in paragraph 2)Reporting by Martin Pollard; Writing by Bernard Orr; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ China reports 3% GDP growth for 2022 as December retail sales, industrial production beat estimates
▼ + stars: | 2023-01-17 | by ( Evelyn Cheng | Evelyn Cheng Is A Senior Correspondent With Cnbc. | ) www.nbcnews.com time to read: +5 min

BEIJING — China reported GDP growth for 2022 that beat expectations as December retail sales came in far better than projected. The GDP growth number did miss the official target of around 5.5% set in March. Retail sales drop far less than expectedRetail sales fell by 0.2% for the year. Those online sales accounted for 27.2% of total retail sales. and U.S.China’s leaders are set to announce the full-year GDP growth target in March at an annual parliamentary meeting.

☆ China suspends social media accounts of Covid policy critics
▼ + stars: | 2023-01-07 | by ( ) www.cnbc.com time to read: +6 min

China has suspended or closed the social media accounts of more than 1,000 critics of the government's policies on the COVID-19 outbreak, as the country moves to further open up. The popular Sina Weibo social media platform said it had addressed 12,854 violations including attacks on experts, scholars and medical workers and issued temporary or permanent bans on 1,120 accounts. Nonetheless, China is forging ahead with a plan to end mandatory quarantines for people arriving from abroad beginning on Sunday. On Sunday, the National Health Commission reported 10,681 new domestic cases, bringing the country's total number of confirmed cases to 482,057. China has said the testing requirements being imposed by foreign governments — most recently Germany and Sweden — aren't science-based and has threatened unspecified countermeasures.

☆ China's Xi solidified grip on power during tumultuous 2022
▼ + stars: | 2022-12-29 | by ( Tony Munroe | ) www.reuters.com time to read: +5 min

It was a rare highlight for Xi in 2022, a tumultuous year capped by unprecedented street protests followed by the sudden reversal of his zero-COVID policy and coronavirus infections rampaging across the world's most populous country. Xi travelled abroad for the first since the start of the pandemic, meeting with Russian President Vladimir Putin in September. Later that month, protesters in cities across China took to the streets in opposition to nearly three years of stifling COVID-19 controls that were a signature Xi policy. Since the congress, China has reversed zero-COVID and said it will focus on stabilising its $17 trillion economy in 2023. The World Bank expects reopening of China's economy will lift growth to 4.3% in 2023 from its forecast of 2.7% for the current year.

Twitter will no longer allow users to promote their accounts on at least seven other major social media sites, including Facebook, Instagram and Truth Social, the platform announced Sunday. "We recognize that many of our users are active on other social media platforms. However, we will no longer allow free promotion of certain social media platforms on Twitter," Twitter Support tweeted Sunday. Twitter’s rule change left out some major social media platforms, most notably TikTok. Other social media companies have few, if any, rules about users’ posting links to their accounts on other platforms.

☆ Obituary: China's Jiang Zemin confounded doubters, mended U.S. ties
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +7 min

[1/5] A security guard stands next to a portrait of China's former President Jiang Zemin at an exhibition to celebrate the 90th anniversary of the founding of the Communist Party of China (CPC) in Beijing, China, July 7, 2011. Under Jiang, China weathered the 1997-1998 Asian financial crisis, joined the World Trade Organisation in 2001 and won the bid to host the 2008 Summer Olympics in Beijing. "Jiang Zemin was more ready to be natural, even though sometimes it could be perceived as vulgar, not very sophisticated." At celebrations for the 50th anniversary of the People's Republic in 1999, floats carried giant portraits of Mao, Deng and Jiang past Tiananmen Square. Jiang, like Mao, wore his trousers well above his waist and brushed his hair straight back.

Asked about the protests on Monday, Foreign Ministry spokesperson Zhao Lijian said the Chinese government was adjusting its Covid measures based on the realities on the ground. “We believe that with the leadership of the Communist Party of China and the support of the Chinese people, our fight against Covid-19 will be successful,” he said at a regular news briefing. Zhao also addressed the detention of BBC journalist Ed Lawrence, who was arrested Sunday while covering the protests in Shanghai. The Communist Party “has a lot of experience accumulated over the years in dissipating social unrest,” she said. Most of the people who protested appeared to be from the Han ethnic group that dominates China.

☆ Ray Dalio says none of China's new leadership team appear to be 'extremists'
▼ + stars: | 2022-11-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Ray Dalio, founder of Bridgewater Associates, received an award from the China General Chamber of Commerce-USA in February 2022. China News Service | China News Service | Getty ImagesBEIJING — American billionaire Ray Dalio said while he's far less familiar with China's new leadership team than prior officials, he expects worries about their future policies are overdone. Here are the highlights:China's leadership reshuffle"I want to emphasize that none of the new people appear to be extremists," Dalio said. Dalio said the leadership changes mean most of the people he knew who were "reformist-globalists" are being replaced. This week, Xi and U.S. President Joe Biden met in person for the first time since Biden took office.

☆ Japan working on arranging summit meeting with China's Xi
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: 1 min

[1/2] Visitors stand in front of an image of Chinese President Xi Jinping, at an exhibition titled "Forging Ahead in the New Era" during an organised media tour ahead of the 20th National Congress of the Communist Party of China, in Beijing, China October 12, 2022. REUTERS/Florence LoTOKYO, Nov 14 (Reuters) - Japan is working on arranging a summit meeting between Prime Minister Fumio Kishida and Chinese leader Xi Jinping, Japan's top government spokesperson said on Monday, without elaborating. Chief Cabinet Secretary Hirokazu Matsuno was speaking at a regular news conference. Kishida and Xi are both due to attend the Group of 20 (G20) summit meeting opening on Tuesday in Bali. Reporting by Chang-Ran Kim; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

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