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☆ China's President Xi to meet with Bill Gates in Beijing - state media
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

BEIJING, June 16 (Reuters) - China's President Xi Jinping will meet with Bill Gates in Beijing on Friday, Chinese state media CCTV reported. The Microsoft (MSFT.O) co-founder tweeted on Wednesday that he had landed in Beijing for the first time since 2019 and that he would meet with partners who had been working on global health and development challenges with the Bill & Melinda Gates Foundation. The last reported meeting between Xi and Gates was in 2015, when they met on the sidelines of the Boao forum in Hainan province. In early 2020, Xi wrote a letter to Gates thanking him, and the Bill & Melinda Gates Foundation, for pledging assistance to China including $5 million for the country's fight against COVID-19. Reporting by Beijing Newsroom; Editing by Christopher Cushing and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Xi Jinping, Bill Gates, Melinda Gates, Gates, Xi, Christopher Cushing, Edwina Gibbs Organizations: Reuters, Microsoft, Melinda Gates Foundation, COVID, Beijing, Thomson Locations: BEIJING, Beijing, China, Hainan province

☆ Microsoft's co-founder Bill Gates will reportedly meet China's Xi this week
▼ + stars: | 2023-06-15 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

Bill Gates, co-chairman of the Bill and Melinda Gates Foundation, during the EEI 2023 event in Austin, Texas, US, on Monday, June 12, 2023. Microsoft 's co-founder Bill Gates will be meeting Chinese President Xi Jinping on Friday, Reuters reported Wednesday citing two sources familiar with the matter. CNBC reached out to China's ministry of foreign affairs but did not hear back at the time of publication. They discussed views on enhancing public health service and poverty reduction, according to China's foreign ministry. In March, Cook met China's minister of commerce Wang Wentao to discuss China's reopening and broader supply chain issues.

Persons: Bill Gates, Melinda Gates, Xi Jinping, Gates, Antony Blinken, Qin Gang, Blinken, Tim Cook, Elon Musk —, Cook, China's, Wang Wentao, Musk, Ding Xuexiang Organizations: Melinda Gates Foundation, Microsoft, Reuters, CNBC, U.S, Foreign, U.S ., U.S . State Department, Apple, Tesla Locations: Austin , Texas, China, Hainan province, Beijing, U.S

☆ Bill Gates in China: Microsoft co-founder to meet Xi Jinping
▼ + stars: | 2023-06-14 | by ( Julie Zhu | ) www.reuters.com time to read: +3 min

HONG KONG, June 14 (Reuters) - Bill Gates, Microsoft Corp's (MSFT.O) co-founder, is set to meet Chinese President Xi Jinping on Friday during his visit to China, two people with knowledge of the matter said. The meeting will mark Xi's first meeting with a foreign private entrepreneur in recent years. The last reported meeting between Xi and Gates was in 2015, when they met on the sidelines of the Boao forum in Hainan province. In early 2020, Xi wrote a letter to Gates thanking him, and the Bill & Melinda Gates Foundation, for pledging assistance to China including $5 million for the country's fight against COVID-19. Several foreign CEOs have visited China since it reopened early this year but most have mainly met with government ministers.

Persons: Bill Gates, Xi Jinping, Gates, Melinda Gates, Xi, Premier Li Qiang, Tim Cook, Elon Musk, Ding Xuexiang, Antony Blinken, Blinken, Qin Gang, Qin, Julie Zhu, Greg Roumeliotis, Brenda Goh, Alex Richardson, Sumeet Chatterjee, Nick Macfie, William Maclean Organizations: Microsoft, Melinda Gates Foundation, Information Office, COVID, Premier, Reuters, U.S, Thomson Locations: HONG KONG, China, Beijing, Hainan province, U.S, United States, Hong Kong, New York

☆ China's southern cities call for power saving as grid stress increases
▼ + stars: | 2023-06-13 | by ( ) www.cnbc.com time to read: +1 min

Industrial and oil refining cities in southern China are urging firms and citizens to curb electricity, while Hainan province called for less power usage at peak times, as grids become more stressed due to persistent searing hot weather. Southern China has been beleaguered by a combination of sizzling hot temperatures and heavy rainfalls in recent weeks, with power loads in several cities approaching historic highs due to soaring demand for air-conditioning. The oil refinery city, whose power load broke records three times as of Monday, asked industrial firms to actively reduce power consumption and strengthen power-saving technology transformation. It also suggested that state-owned firms, residents and commercial venues set cooling temperatures to no less than 26 degrees Celsius (79 degrees Fahrenheit), according to the statement. Jiangmen, another industrial city in Guangdong, is also proposing to cut unnecessary power usage amid the power consumption peak.

Locations: China, Hainan, Southern China, Maoming, Guangdong

☆ Three die, farmland and trees damaged as storms sweep across China
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: +2 min

BEIJING, June 11 (Reuters) - Three people died in eastern China after strong winds toppled a shipyard crane, authorities said on Sunday, as storms caused damage across the country, including large swaths of farmland. In Nanjing, the capital of Jiangsu province in eastern China, large trees were felled on Saturday, crushing vehicles and blocking roads, local media reported. The measures include 275 million yuan for prizes to family farms and cooperatives to encourage high yield, CCTV reported. On Friday, heavy rain hit parts of southwest China, including Guangxi, engulfing roads and partially submerging buildings. ($1 = 7.1273 Chinese yuan renminbi)Reporting by Ellen Zhang and Martin Quin Pollard; William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Hailstorms, Ellen Zhang, Martin Quin Pollard, William Mallard Organizations: Twitter, CCTV, Liaoning Meteorological Service Centre, Thomson Locations: BEIJING, China, Wuhu, Nanjing, Jiangsu, Liaoning, Wafangdian, Henan, Guangxi, rainstorms, Guangdong, Hainan, Hubei, Guangzhou

☆ FDA allows temporary import of unapproved Chinese cancer drug to ease U.S. shortage
▼ + stars: | 2023-06-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The Food and Drug Administration has authorized the temporary importation of an unapproved chemotherapy drug from China in an effort to ease an acute shortage of cancer drugs in the United States, according to an update posted to the agency's website on Friday. The FDA told CNBC this week that the agency was considering imports of unapproved chemotherapy drugs. An FDA spokesperson said the agency assesses the quality of unapproved drug imports to make sure they are safe for U.S. patients. Doctors say some cancer patients could die if the national shortage drugs like cisplatin is not resolved soon. At least 13 other cancer drugs are in short supply across the U.S.

Organizations: Qilu Pharmaceutical, Co, Drug Administration, U.S . Health, FDA, CNBC Locations: Hainan, Haikou, Hainan Province, China, United States, U.S, Toronto, Jinan, Shandong

☆ How China’s slower post-Covid recovery is playing out for our Club stocks this earnings season
▼ + stars: | 2023-05-04 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

A slower-than-expected recovery in China is proving to be a challenge for some of our Club holdings that do lots of business there. The company blamed a slower post-Covid recovery in its Asia travel retail business for the dismal outlook. SBUX YTD mountain Starbucks' stock year to date performance. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

☆ China weighs giving single women IVF access to stem population decline
▼ + stars: | 2023-04-29 | by ( ) www.cnbc.com time to read: +8 min

Crucially, Chen could access in-vitro fertility (IVF) treatment legally in a private clinic. We have liberalized the policies here and I know a lot of single women are doing IVF." watch nowLiberalizing IVF nationwide could unleash more demand for fertility treatment in what is already the world's biggest market, straining limited fertility services. The NHC's Sichuan branch did not address questions from Reuters about whether it would offer IVF treatment to all women in public hospitals. Shanghai and the southern Guangdong province have also permitted unmarried women to register their children but IVF services for single women remain banned.

[1/2] Visitors look at a Tesla Model 3 electric vehicle (EV ) at the third China International Consumer Products Expo, in Haikou, Hainan province, China April 12, 2023. Tesla said on Friday it cut prices in numerous European markets including Germany and France because of a scaling up and improvement in its production capacity. In Germany, Tesla has lowered the price of its Model 3 and Model Y vehicles by between 4.5% and 9.8%, data on its website showed on Friday, marking its second price reduction this year after a price reduction of 1-17% in January. In Singapore, it cut prices of its Model 3 and Model Y vehicles between 4.3% and 5%, its local website showed. Tesla also cut prices in Israel, with the price of the base rear-wheel drive Model 3 slashed by 25% after an initial round of global price cuts in January.

☆ Tesla to skip Shanghai Autoshow, organiser's plan shows
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, April 14 (Reuters) - Tesla will not occupy a booth at China's largest annual autoshow to be held next week in Shanghai, according to plans published by the event's organisers. The financial hub is set to host Auto Shanghai between April 18-27. It is Asia's largest auto show where brands from BYD (002594.SZ) to Volkswagen (VOWG_p.DE) are expected to show off their latest models and technologies. Tesla, which has a large electric vehicle factory in Shanghai, has attended the show in past years. Tesla and Auto Shanghai did not immediately respond to a request for comment when asked about the U.S. automaker's participation at the Shanghai auto show on Friday.

☆ Record rise in China's sea levels from global warming threatens coastal cities like Shanghai
▼ + stars: | 2023-04-13 | by ( Nectar Gan | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Sea levels on China’s coastline have hit their highest on record for the second year in a row, rising more quickly than the global average and posing a serious threat to coastal cities such as the financial hub of Shanghai. The temperature of China’s coastal waters has increased significantly due to global warming, and the rise in sea levels has accelerated, said Wang Hua, head of the marine forecasting and monitoring department at the ministry. “In the last 11 years, from 2012 to 2022, China’s coastal sea levels were the highest since observations were first recorded,” Wang said at the news conference, which released the latest annual report on China’s sea levels. Over the past four decades, rising sea levels along the Chinese coast have caused long-term effects, including the erosion of coastal ecosystems and the loss of tidal flats. In 2022, high sea levels along the Chinese coast aggravated the impact of storms, dealing a severe blow to the provinces of Guangdong, Zhejiang and Shandong.

BOAO, China, March 31 (Reuters) - The Asian Infrastructure Investment Bank (AIIB) will stick to its mandate as an apolitical multilateral lender and won't get dragged into political disputes, even as multilateralism is severely tested, its president, Jin Liqun, said on Friday. "But on the other hand, we need to protect the bank in terms of its credit worthiness," he added. As of November, the AIIB had financed 194 projects totalling $37 billion, up from $29 billion in October 2021, according to S&P Global Ratings. "We now have projects in Rwanda, Ecuador, we have projects in central and eastern European countries," he said. Reporting by Joe Cash in Boao Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ China to boost regulatory oversight of digital economy -c.bank deputy governor
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

BOAO, China, March 31 (Reuters) - China will beef up its regulatory oversight of the digital economy, as new technologies, especially new forms of finance, should not be blindly accepted and recognised, a deputy governor of China's central bank said on Friday. Digital currencies and newly invented cryptocurrencies, rather than solving problems in finance, can in fact create new challenges, Xuan Changneng, a deputy governor of the People's Bank of China, said at the annual Boao Forum in Hainan province. He did not spell out steps that will be taken to boost oversight. China itself has launched its own digital renminbi, or yuan, but it is little used. The National Financial Regulatory Administration will absorb the China Banking and Insurance Regulatory Commission's responsibilities and take over some supervisory functions from the central bank and the securities regulator.

☆ China's strong demand for commodities to overtake post-2008 crisis, mining giant says
▼ + stars: | 2023-03-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

The Australian iron ore giant began business in China with a 180,000-metric ton shipment of iron ore in 2008, according to the company's website. At that time, China managed to avoid a prolonged recession with a massive stimulus program that supported infrastructure development — which drove up demand for commodities. What we're seeing now is uniform demand across China. "What we're seeing now is uniform demand across China," Forrest said, "and uniform demand but increasing, thankfully, in the supply chain, the ecosystem which will create [for the] renewable energy industry." In the six months ended Dec. 31, Fortescue said it shipped a record 96.9 million metric tons of iron ore — up 4% from a year ago.

☆ Boao Forum: Li Qiang says China 'confident and capable' of hitting 2023 growth targets
▼ + stars: | 2023-03-30 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The forum often promotes itself as “Asian Davos” and Li is tasked with reviving the world’s second largest economy at a time of sluggish growth. China, he said, will roll out new measures to boost domestic consumption and increase market access for foreign business while ensuring the stability of the financial sector. (Photo by AFP) / China OUT (Photo by STR/AFP via Getty Images) Stringer/AFP/Getty ImagesThe Boao Forum for Asia has been held annually since 2001, but was suspended in 2020 because of the pandemic. But the problems have been exacerbated by the Communist Party’s erratic and draconian zero-Covid policy, which ended late last year, and a sweeping crackdown on private business. To boost business confidence, China’s new economic leadership is trying to reassure both foreign business and the domestic private sector.

☆ China's green loans exceed $3.2 trln, central bank chief says
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

BOAO, China, March 29 (Reuters) - China's outstanding green loans currently exceed 22 trillion yuan ($3.2 trillion), accounting for about 10% of the country's total loan balance, People's Bank of China Governor Yi Gang said on Wednesday. Separately, China's green bonds have hit more than 2.5 trillion yuan, Yi said at the Boao Forum in southern China's Hainan province. "Achieving carbon neutrality requires 'carrots and sticks'," Yi said, adding that a central bank incentive mechanism, which provides commercial banks with loans with interest rates as low as 1.75%, could be equated to a "carrot". To support carbon emission reduction, the central bank has lent more than 300 billion yuan via a relending tool which has helped banks to make 600 billion yuan in loans to green projects. The central bank said in January it would keep the relending tool in place until the end of 2024.

☆ Asia is an area of certainty amid global volatility, says China's Boao Forum outlook
▼ + stars: | 2023-03-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Asia, especially China, is an area of certainty amid global uncertainty, according to an annual economic outlook report released Tuesday at the high-profile Boao Forum in Hainan province. HAINAN — Asia, especially China, is an area of certainty amid global uncertainty, according to an annual economic outlook report released Tuesday at the high-profile Boao Forum in Hainan province. The Boao Forum outlook did not go into detail about recent banking turmoil in the U.S. and Switzerland, but said the banking sector is expected to remain stable. It was not clear whether it was referring to the global financial sector or the banking sector in Asia or China. Instead, the report spent more time discussing the negative impact of aggressive U.S. Federal Reserve interest rate hikes on Asian economies.

☆ Airfares across Asia are sky-high this year. Here’s why
▼ + stars: | 2023-03-24 | by ( Michelle Toh | ) edition.cnn.com time to read: +7 min

But passengers in Asia Pacific are currently grappling with bigger price jumps than other regions, highlighting the uneven global recovery. Economy fares to Asia from North America and Europe are set to rise 9.5% and 9.8% this year from last year, respectively, Amex GBT forecasts show. “In the markets where restrictions have been the last to lift, and hence [flight] capacity last to be restarted, the difference in fares is the highest,” said Aitken. Despite China’s reopening, outbound flight capacity “is currently only at 15% to 20% of pre-Covid levels,” according to Trip.com (TCOM) CEO Jane Sun. The restrictions have remained, and those most heavily impacted are between Asia and North America or Europe.

Club holdings Apple (AAPL) Ford Motor (F) and Estee Lauder (EL) were in the news Thursday. Apple has primarily released its content directly on Apple TV+, with some projects getting limited runs in a handful of cinemas. The Club's take: We welcome Apple making smart, strategic investments that make Apple TV+ a more valuable streaming service to potential subscribers. Estee Lauder EL YTD mountain Estee Lauder stock performance year-to-date. The news: Citi outlined its bull and bear cases for Club holding Estee Lauder in a research note Thursday.

☆ Spain's PM Sanchez to go on state visit to China
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

MADRID, March 23 (Reuters) - Spanish Prime Minister Pedro Sanchez will visit China next week following a formal invitation by President Xi Jinping, as the Asian country seeks to position itself as a mediator in the ongoing war in Ukraine. The weight that Spain and Pedro Sanchez have in the world is unquestionable," Bolaños said, adding that "China has a key role to play in mediating the war". Bolaños said the visit would also be important from a trade and economic perspective, as Sanchez plans to meet with the Asia Pacific Forum and Spanish businesses operating in China. Xi has just concluded a three-day trip to Moscow, where he described China's position on the conflict as "impartial". The latest bilateral talks between the two leaders took place in November 2022 during the G-20 summit in Bali, Indonesia.

☆ As China's birth rate slumps, political advisor urges egg freezing for single women
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

Lu, a fertility doctor in China's southern Hainan province, said giving single women access to freezing their eggs enables them "to preserve the eggs before they pass their peak reproductive years. Currently fertility treatments such as in vitro fertilisation (IVF) and egg freezing in China are banned for unmarried women. Lu's recommendations come as authorities try to bolster a faltering birth rate with incentives including expanding maternity leave, financial and tax benefits for having children as well as housing subsidies. Last year, China recorded its lowest ever birth rate, of 6.77 births per 1,000 people. While nine of the 10 most populous nations in the world are experiencing declines in fertility, China's 2022 fertility rate of 1.18 was the lowest and well below the 2.1 OECD standard for a stable population.

REUTERS/Dado Ruvic/IllustrationWASHINGTON, Feb 3 (Reuters) - China's flight of a suspected surveillance balloon over the United States appears to mark a more aggressive - albeit puzzling - espionage tactic than relying on satellites and the theft of industrial and defense secrets, security experts said. Both the United States and China have for decades used surveillance satellites to keep an eye on each other from the air. The uproar over the balloon comes as China has been building up its military capabilities and challenging America's military presence in the Pacific. The United States also believes Beijing routinely seeks to capture proprietary information and knowledge from U.S. companies. It has previously rebuffed accusations of espionage and said the United States holds a Cold War mentality and hypes up the 'China threat.'

☆ Luxury stocks rally from China reopening, but world's largest luxury market may choose to shop 'in-house'
▼ + stars: | 2023-02-01 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

In the past, trips abroad often included personal luxury purchases for affluent Chinese consumers looking to take advantage of currency and tax benefits. CFOTO | Future Publishing | Getty Images"China's domestic luxury consumption should far exceed that of overseas luxury consumption," said Zhang, who estimates that in the long run, domestic luxury consumption will account for 70% of the Chinese luxury consumers' spending, and a mere 30% from abroad. That would be the inverse of spending patterns before 2017, when over 70% of Chinese luxury spending took place outside of China, according to Zhang. He added it is unlikely the share of overseas luxury shopping for Chinese consumers will recover to pre-pandemic levels of over 70%. The increasing digitalization of shopping processes has also facilitated Chinese shopping online for luxury goods, Bain & Co said in a report.

HONG KONG, Jan 27 (Reuters Breakingviews) - China’s first big vacation of 2023 offers shallow relief to investors. Passenger car sales dropped 21% from the same festive period last year, per Nomura analysts, and real estate keeps plunging. Central bankers terrified that China’s reopening will fuel more global inflation will be relieved. Chinese consumers enjoyed their holiday but there was little sign of dramatic “revenge consumption.” Scarred consumers have too many reasons to avoid splurging for the foreseeable future. The opinions expressed are her own)Follow @ywchen1 on TwitterloadingCONTEXT NEWSMainland China’s Lunar New Year holiday runs from Jan. 21 to Jan. 27 in 2023.

He heard at that time that Pfizer's (PFE.N) anti-viral drug Paxlovid was an effective treatment, but patients could only get it prescribed if they were admitted to hospital, and only if the drug was in stock. Li's experience, local media reports and online posts bear testimony to the difficulties faced obtaining Paxlovid in China through official channels. "Pfizer is actively collaborating with Chinese authorities and all stakeholders to secure an adequate supply of Paxlovid in China. We remain committed to fulfilling the COVID-19 treatment needs of Chinese patients and partnering with the Chinese government," the company said in a statement. PAXLOVID GIFTSeveral other people described to Reuters how they turned to the grey market to purchase Paxlovid.

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