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The U.S. moved this month to cut off a Chinese conglomerate’s access to Western technology, but the firm can still secure those goods through a technicality that some former senior officials say is a major loophole in the U.S. export-control regime. U.S. companies are barred from exporting to companies named on the Commerce Department’s so-called Entity List, unless they get approval. But listed companies can still buy U.S. goods through subsidiaries that aren’t on the Entity List, current and former government and industry officials say. Industry officials say some U.S. companies intend to keep selling high-tech goods to Chinese companies in that manner.

☆ China Approves First Homegrown mRNA Covid-19 Vaccine
▼ + stars: | 2023-03-23 | by ( Clarence Leong | ) www.wsj.com time to read: 1 min

China has relied primarily on inactivated vaccines to protect its population during the pandemic. SINGAPORE—China approved its first homegrown mRNA vaccine for Covid-19, adding a key tool to combat future outbreaks of the virus that was missing due to Beijing’s reluctance to allow Western-made shots using the gene-based technology. CSPC Pharmaceutical Group Ltd.’s messenger-RNA vaccine, known as SYS6006, was given emergency-use clearance by regulators, the company said in a filing to the Hong Kong stock exchange Wednesday. The vaccine was designed to work against the latest variants of Covid-19, and also proved effective against older strains, it said.

☆ China's Xi appeared more relaxed than Putin in first Moscow meeting, experts say
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +2 min

[1/2] Russian President Vladimir Putin and Chinese President Xi Jinping attend a welcome ceremony before Russia - China talks in narrow format at the Kremlin in Moscow, Russia March 21, 2023. Sputnik/Pavel Byrkin/Kremlin via REUTERSMarch 21 (Reuters) - Body language experts say Chinese President Xi Jinping came across as more relaxed and commanding than his Russian counterpart Vladimir Putin at Monday's televised first meeting of Xi's state visit to Moscow. "If you juxtapose it with Xi, Xi is the composed statesman," she said. Putin, 70, is in fact a few months older than Xi, and has been in power more than twice as long. Leong said Xi had offered a sign that he too had been feeling some pressure, blinking unusually frequently during the sit-down.

SINGAPORE—The failure of Silicon Valley Bank reverberated through startups and venture-capital firms from China to Singapore and India during a roller coaster few days that shook confidence in Asia over reliance on U.S. tech financing. After frantic efforts trying to secure their money, some startup executives said the incident served as a warning despite U.S. authorities stepping in Sunday to shore up the bank’s customers.

☆ Is the bubble bursting for tech workers?
▼ + stars: | 2023-01-30 | by ( Emaad Akhtar | ) www.cnbc.com time to read: +1 min

This increasing dependency has led to massive growth in the tech sector and, with it, a proliferation of high paying jobs. "The Big Tech companies will continue to pay what they used to pay – they always pay a lot," he added. "I suspect the growth in the median pay will either stagnate or may even drop a little bit." So, is the bubble bursting for tech workers? Watch the video above to find out more.

☆ Alibaba Seeks to Boost Sales Abroad With Buy Now, Pay Later
▼ + stars: | 2023-01-16 | by ( Clarence Leong | Shen Lu | ) www.wsj.com time to read: 1 min

Alibaba’s delayed-payment option will first be rolled out in Germany, Spain and France. SINGAPORE—Chinese internet giant Alibaba Group Holding Ltd. started allowing shoppers in Europe to pay for purchases on its international e-commerce platform only after receiving their merchandise, in an attempt to boost global sales as growth at home slows. On Monday, a fintech company called Splitit Payments Ltd. said it would join with Ant Group Co.’s Alipay to provide a delayed-payment option to customers of AliExpress, an online marketplace operated by Alibaba outside of China.

☆ China’s Shortage of Antivirals Puts Vulnerable People at Risk
▼ + stars: | 2023-01-13 | by ( Raffaele Huang | Clarence Leong | ) www.wsj.com time to read: 1 min

SINGAPORE—China is struggling with shortages of lifesaving antivirals more than a month after its government made an abrupt U-turn on its zero-Covid policies, leaving hospitals and drugmakers unprepared for the rapid rise in cases. Many people in China are hunting for antiviral treatments such as Pfizer Inc.’s Paxlovid and Merck & Co.’s Lagevrio, also known as molnupiravir, which have been shown to suppress the ability of the virus to reproduce when taken soon after a patient gets infected.

Liza LinLiza Lin covers Asia technology news for The Wall Street Journal from Singapore, focusing mostly on China, the internet, supply chains and surveillance. In 2021, Liza was part of a team at the Journal that was named a finalist for the Pulitzer Prize in International Reporting, for their coverage of Chinese leader Xi Jinping. Liza, alongside other Journal reporters, won the Gerald Loeb Award for International Reporting in 2018 for a series of stories on China's surveillance state. Liza is the co-author with Journal colleague Josh Chin of the book "Surveillance State: Inside China’s Quest to Launch a New Era of Social Control." A Fulbright scholar, she has also worked for Bloomberg News in Singapore and China.

Persons: Liza Lin Liza Lin, Liza, Xi Jinping, Gerald Loeb, Josh Chin Organizations: Wall, New York Press Club, Society of Publishers, Social Control, Bloomberg News Locations: Asia, Singapore, China, Shanghai

SummarySummary Companies COVID infections may peak next week- Chinese health officialChina reports no new COVID deaths for 3rd dayOverstretched health system braces for more severe casesBEIJING/SHANGHAI, Dec 23 (Reuters) - China is expecting a peak in COVID-19 infections within a week, a health official said, with authorities predicting extra strain on the country's health system even as they downplay the disease's severity and continue to report no new deaths. China reported less than 4,000 new symptomatic local COVID cases nationwide for Dec. 22, and no new COVID deaths for a third consecutive day. Authorities have narrowed the criteria for COVID deaths, prompting criticism from many disease experts. Experts say China could face more than a million COVID deaths next year. NO DATAThe World Health Organization has received no data from China on new COVID hospitalizations since Beijing lifted its zero-COVID policy.

☆ Expect Asian currencies to outperform as central banks remain hawkish, says analyst
▼ + stars: | 2022-12-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect Asian currencies to outperform as central banks remain hawkish, says analystLeong Lin Jing of Columbia Threadneedle Investments says Asian central banks are likely to keep hiking interest rates even if the U.S. Federal Reserve stops doing so.

☆ Ant’s Consumer-Lending Unit to Raise $1.5 Billion in Scaled-Down Capital Plan
▼ + stars: | 2022-11-14 | by ( Clarence Leong | ) www.wsj.com time to read: 1 min

SINGAPORE—The consumer-finance arm of China’s Ant Group Co. is planning to raise the equivalent of $1.5 billion in new capital, scaling back its fundraising ambitions after a large state-backed investor backed out of a previous plan. Chongqing Ant Consumer Finance Co., a company that the financial-technology giant set up in mid-2021 to house its personal-lending business, is planning to increase its registered capital to 18.5 billion yuan, equivalent to $2.6 billion, from 8 billion yuan, according to regulatory filings from some of the companies taking part in the capital raise.

The Indonesian navy has been trying to free the Djibouti-registered ship, Young Yong, which ran aground off Indonesia's Riau Islands on Oct. 26 near a gas pipeline. The Young Yong was among the vessels sanctioned. Capable of carrying 2 million barrels of crude oil, the stranded tanker is almost full, according to shipping data on Refinitiv Eikon. allows transactions to free sanctioned oil tanker, Young Yong, which has been stranded in Indonesian waters since Oct. 26CHALLENGESThere are operational challenges in refloating the ship like the risk of an oil spill and strong currents in the surrounding waters, said Jacob Hogendorp, managing partner of Global Salvage Consultancy. He added that part of the cargo onboard Young Yong would likely have to be transferred to another ship before refloating commences.

☆ Temasek shifts president, CFO in management shuffle
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: 1 min

Oct 26 (Reuters) - Singapore's Temasek Holdings said on Wednesday President Tan Chong Lee will resign to take up the role as chief executive officer at its fund management firm 65 Equity Partners. In a slew of management changes announced by the investment giant, Leong Wai Leng will step down as the chief financial officer after 16 years to lead the Singapore market team as president. The company's deputy CFO Png Chin Yee will replace Leng from Jan. 1, 2023, it said in a statement. It has in recent days seen stock markets tumble in the face of higher interest rates and inflation. Reporting by Savyata Mishra in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

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