DIRS.INFO The most relevant business & tech news

HONG KONG, Sept 18 (Reuters) - The disappearance of Chinese Defence Minister Li Shangfu highlights the opaque and complex nature of the People's Liberation Army (PLA), diplomats and analysts say. In the Chinese system, the Minister of National Defence is seen as significantly less powerful than the U.S. defence secretary and many international equivalents. HOW DOES THE CHINESE MILITARY SYSTEM OPERATE? When the forum was last held in-person in 2019, more than 530 defence and military officials and scholars attended, including defence ministers from 23 countries. The Chinese defence minister would typically give the keynote speech at the forum and meet with delegations.

Persons: Li Shangfu, Li, Xi Jinping, technocrat, Xi, Lloyd Austin, Jake Sullivan, Wang Yi, Zhang Youxia, Greg Torode, Tian, Gerry Doyle Organizations: Defence, People's Liberation Army, PLA, Reuters, of National Defence, Central Military Commission, Communist Party, Strategic, Force, . Defence, White House, Foreign, Austin, CMC, Diplomats, China, Thomson Locations: HONG KONG, U.S, ., Singapore, Malta, China

☆ Explainer-China's Military Hierarchy Under Spotlight After Defence Minister Disappears
▼ + stars: | 2023-09-18 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +5 min

By Greg Torode and Yew Lun TianHONG KONG (Reuters) - The disappearance of Chinese Defence Minister Li Shangfu highlights the opaque and complex nature of the People's Liberation Army (PLA), diplomats and analysts say. In the Chinese system, the Minister of National Defence is seen as significantly less powerful than the U.S. defence secretary and many international equivalents. HOW DOES THE CHINESE MILITARY SYSTEM OPERATE? When the forum was last held in-person in 2019, more than 530 defence and military officials and scholars attended, including defence ministers from 23 countries. The Chinese defence minister would typically give the keynote speech at the forum and meet with delegations.

Persons: Greg Torode, Li Shangfu, Li, Xi Jinping, technocrat, Xi, Lloyd Austin, Jake Sullivan, Wang Yi, Zhang Youxia, Tian, Gerry Doyle Organizations: Reuters, Defence, People's Liberation Army, PLA, of National Defence, Central Military Commission, Communist Party, Strategic, Force, . Defence, White House, Foreign, Austin, CMC, Diplomats, China Locations: HONG KONG, U.S, ., Singapore, Malta, China

Rahm Emanuel, Washington's outspoken ambassador to Japan, wrote in a post on X: "1st: Defense Minister Li Shangfu hasn't been seen or heard from in 3 weeks. China's defence ministry did not immediately respond to requests for comment. On the trip, Wat met with China's navy commander, Dong Jun and other navy leaders, Singapore's defence ministry said on its website. Singapore's defence ministry did not immediately respond to a request for comment. Military observers and diplomats are closely watching whether China will go ahead with plans to hold the Beijing Xiangshan Forum - an annual international security summit normally hosted by China's defence minister - in late October.

Persons: Li Shangfu, Li, Rahm Emanuel, Washington's, Li Shangfu hasn't, Mao Ning, Qin Gang, Qin, Emanuel, Barack Obama, Matthew Miller, Sean Wat, Wat, Dong Jun, Lloyd Austin, Yew Lun Tian, Laurie Chen, Martin Pollard, Yukiko Toyoda, Xinghui, John Geddie, Neil Fullick, Lincoln, Gerry Doyle Organizations: Defence, Financial Times, U.S, Street Journal, Defense, Navy, Liberation, Rocket Force, . State Department, Reuters, Military, Beijing Xiangshan, U.S . Defence, Australian National University, Thomson Locations: BEIJING, TOKYO, U.S, Beijing, Japan, Vietnam, Tokyo, States, China, Singapore, United States, Xinghui Kok

☆ China's defence minister, not seen in weeks, skipped Vietnam meet
▼ + stars: | 2023-09-14 | by ( Yew Lun Tian | ) www.reuters.com time to read: +4 min

China's State Council Information Office, as well as its defence and foreign ministries did not immediately respond to a request for comment about the Vietnam event. Asked about Emanuel's post this week, a Chinese Foreign Ministry spokeswoman told reporters she was "not aware of the situation." China's defence minister is mainly responsible for defence diplomacy and does not command combat forces. Chinese officials have repeatedly said they want those sanctions dropped to facilitate better discussions between the two sides' militaries. He then headed the military's procurement unit from 2017 until he became defence minister.

Persons: Li Shangfu, Li, Beijing couldn't, Qin Gang, Xi Jinping, Qin, Washington, Li's, Joe Biden, Japan Rahm Emanuel, Li Shangfu hasn't, Alfred Wu, Lee, Xi, Lloyd Austin, Yew Lun Tian, Antoni Slodkowski, John Geddie, Katerina Ang Organizations: Reuters, China's, Information, Qin, Liberation, Rocket Force, Communist Party, U.S, . U.S, Foreign, Defense, Foreign Ministry, Lee Kuan Yew, of Public Policy, U.S . Defence, Support Force, Thomson Locations: BEIJING, HANOI, Vietnam, China, Beijing, Hanoi, Japan, Russia, Belarus, Singapore, U.S

☆ U.S. Diplomat Questions Whether Chinese Defence Minister Under 'House Arrest'
▼ + stars: | 2023-09-14 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

In a post on X, formerly Twitter, Rahm Emanuel wrote: "1st: Defense Minister Li Shangfu hasn't been seen or heard from in 3 weeks. Now: He’s absent from his scheduled meeting with the Singaporean Chief of Navy because he was placed on house arrest???" China's foreign and defence ministries did not immediately respond to requests for comment. Reuters exclusively reported on Thursday that Li had abruptly pulled out of a meeting with Vietnamese defence leaders last week. These moves have raised questions from analysts and diplomats about a lack of transparency and unpredictable decision-making in China's leadership.

Persons: Yukiko Toyoda, Tian, Rahm Emanuel, Li Shangfu hasn't, William Shakespeare's, Li, Singapore Rahm, Sean Wat, Dong Jun, Qin Gang, Lun Tian, Martin Pollard, Xinghui, John Geddie, Neil Fullick Organizations: Twitter, Defense, Navy, Reuters, Financial Times, Singapore, PLA Navy, Liberation, Rocket Force Locations: Tian TOKYO, BEIJING, U.S, Japan, Vietnam, Denmark, Tokyo, Beijing, Singapore, China, Xinghui Kok

☆ China relaxes rules for insurers to invest in stock markets
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO-People walk past a screen displaying the Hang Seng stock index at Central district, in Hong Kong, China October 25, 2022. A lower risk weighting frees up more capital for insurers to invest. In addition, the watchdog reduced the risk weighting it assigns to investments in Real Estate Investment Trusts (REITs), which in China channel money mainly into infrastructure projects. It also set a relatively low risk weighting for private equity investments in China's strategic and emerging sectors. China has unveiled a slew of measures to boost investor confidence and revive its stock market.

Persons: Lam, Samuel Shen, Tian, Christina Fincher Organizations: REUTERS, Rights, National Administration of Financial, Real, Investment, Thomson Locations: Central, Hong Kong, China, Rights BEIJING, Shanghai, Beijing

☆ Three Chinese cities lift house-buying curbs
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +1 min

People walk along Nanjing Pedestrian Road, a main shopping area, following the outbreak of the coronavirus disease (COVID-19), in Shanghai, China May 10, 2021. REUTERS/Aly Song/File Photo Acquire Licensing RightsBEIJING, Sept 10 (Reuters) - At least three major Chinese cities last week removed restrictions on home buying, as the Asian giant gradually rolls back a crackdown on the property sector in a bid to revive its economy. These announcements come on the heels of a series of nationwide support measures for the property sector, including lower mortgage rates for first-time homebuyers. China's debt-riddled property sector accounts for one-quarter of the state's economic activity. It had been on a downward spiral since 2021 when the government moved to stop developers from accumulating debt.

Persons: Aly, Yew Lun, Michael Perry Organizations: REUTERS, Rights, Thomson Locations: Nanjing, Shanghai, China, Rights BEIJING, Dalian, Shenyang, Liaoning, Jiangsu

☆ China, Europe should 'unite and co-operate', Premier Li says at G20
▼ + stars: | 2023-09-10 | by ( Yew Lun Tian | ) www.reuters.com time to read: +1 min

Chinese Premier Li Qiang leaves after attending the East Asia Summit at the Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, Thursday, Sept. 7, 2023. Achmad Ibrahim/Pool via REUTERS/file photo Acquire Licensing RightsBEIJING, Sept 10 (Reuters) - China and Europe should "unite and co-operate" against global uncertainties, Premier Li Qiang told the European Union chief on the sidelines of the annual G20 summit in New Delhi. "Risk prevention does not preclude co-operation, interdependence should not be equated with insecurity," Li told EU Commission President Ursula von der Leyen on Saturday, the Chinese foreign ministry said in a statement. "China and the EU should further unite and co-operate, and use the stability of China-EU relations as a hedge against the uncertainty of the world situation," it quoted Li as saying. Li was attending the summit as a representative of President Xi Jinping, who did not attend.

Persons: Li Qiang, Achmad Ibrahim, Li's, Li, Ursula von der Leyen, Xi Jinping, Yew Lun, Michael Perry, Clarence Fernandez Organizations: East Asia Summit, Association of Southeast Asian Nations, ASEAN, Rights, European Union, EU, Thomson Locations: Jakarta, Indonesia, Rights BEIJING, China, Europe, New Delhi, EU

☆ China, Europe Should 'Unite and Co-Operate', Premier Li Says at G20
▼ + stars: | 2023-09-09 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +1 min

By Yew Lun TianBEIJING (Reuters) - China and Europe should "unite and co-operate" against global uncertainties, Premier Li Qiang told the European Union chief on the sidelines of the annual G20 summit in New Delhi. "Risk prevention does not preclude co-operation, interdependence should not be equated with insecurity," Li told EU Commission President Ursula von der Leyen on Saturday, the Chinese foreign ministry said in a statement. "China and the EU should further unite and co-operate, and use the stability of China-EU relations as a hedge against the uncertainty of the world situation," it quoted Li as saying. Li was attending the summit as a representative of President Xi Jinping, who did not attend. (Reporting by Yew Lun Tian; Editing by Michael Perry and Clarence Fernandez)

Persons: Lun Tian, Li Qiang, Li's, Li, Ursula von der Leyen, Xi Jinping, Yew Lun, Michael Perry, Clarence Fernandez Organizations: European Union, EU Locations: Lun Tian BEIJING, China, Europe, New Delhi, EU

Chinese President Xi Jinping attends the plenary session of the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa on August 23, 2023. More than 10 envoys from these countries stationed in China detailed to Reuters the increasing difficulty they face getting access to Chinese officials and other sources of information on the world's second-largest economy. When meetings are arranged, Chinese officials stick rigidly to scripted comments, the diplomats said, while some added they experienced hostile behaviour from nationalistic academics. However, envoys from two countries which enjoy close relations with China said they had experienced no such problems. "To Chinese officials, the benefits of such engagements have become less evident, while the political and security risks are growing."

Persons: Xi Jinping, GIANLUIGI, Ryan Neelam, Xi, Li Qiang, Vladimir Putin, COVID, Emmanuel Macron, Antony Blinken, Yun Sun, Sun, Tong Zhao, Martin Quin Pollard, Laurie Chen, John Geddie, Nick Macfie Organizations: Rights, Reuters, Lowy Institute, China Program, Stimson, Washington D.C, U.S, Carnegie Endowment, International, Thomson Locations: Sandton, Johannesburg, South Africa, Rights BEIJING, China, India, Beijing, Australian, Hong Kong, Russia, Ukraine, Taiwan, New Delhi, Moscow, Washington

U.S. Commerce Secretary Gina Raimondo talks to Chinese Premier Li Qiang during a meeting at the Great Hall of the People in Beijing, China Tuesday, August 29, 2023. "China is actively advancing its high-level opening-up and making efforts to provide a world-class, market-oriented business environment governed by a sound legal framework," he said. Asked what her message was to U.S. business in China, Raimondo said: "The message is to continue to do what you're doing. She is pressing China to take actions to improve business conditions. That sentiment was echoed by Jens Eskelund, president of the European Union Chamber of Commerce in China, who said "'uninvestible' is not a term we would use to describe China", instead describing it as "under-invested."

Persons: Gina Raimondo, Li Qiang, Andy Wong, Biden, Raimondo, Liu Pengyu, Michael Hart, Hart, Jens Eskelund, Chen Jining, Chen, Walt Disney, David Shepardson, Andrea Shalal, Nicoco Chan, Jason Xue, Joe Cash, Martin Quin Polland, Lun Tian, Laurie Chen, Sandra Maler, Robert Birsel Organizations: Commerce, of, People, REUTERS Acquire, Rights, . Commerce, U.S . Commerce Department, Global, American Chamber of Commerce, European Union Chamber of Commerce, chipmaker Micron Technology, Micron, Shanghai, Shanghai Disneyland, Walt, Shendi Group, Boeing, Thomson Locations: Beijing, China, Rights SHANGHAI, WASHINGTON, United States, Washington, Shanghai, U.S, New York

U.S. Commerce Secretary Gina Raimondo talks to Chinese Premier Li Qiang during a meeting at the Great Hall of the People in Beijing, China Tuesday, August 29, 2023. "China is actively advancing its high-level opening-up and making efforts to provide a world-class, market-oriented business environment governed by a sound legal framework," he said. Raimondo is in Shanghai on Wednesday for the last day of meetings before returning to the United States. Asked what her message was to U.S. business in China, Raimondo said: "The message is to continue to do what you're doing. Michael Hart, president of the American Chamber of Commerce in China, said businesses had been "very clear" in making their concerns known to the Chinese government.

Persons: Gina Raimondo, Li Qiang, Andy Wong, Biden, Raimondo, Liu Pengyu, Michael Hart, Hart, Chen Jining, Chen, Walt Disney, David Shepardson, Andrea Shalal, Chan, Jason Xue, Joe Cash, Martin Quin Polland, Tian, Sandra Maler, Robert Birsel Organizations: Commerce, of, People, REUTERS Acquire, Rights, . Commerce, Commerce Department, Global, American Chamber of Commerce, chipmaker Micron Technology, Micron, Shanghai, Shanghai Disneyland, Walt, Shendi Group, Boeing, Thomson Locations: Beijing, China, Rights SHANGHAI, WASHINGTON, United States, Washington, Shanghai, U.S, New York

☆ US-Sino tensions help spawn China card game craze
▼ + stars: | 2023-08-28 | by ( Yew Lun Tian | ) www.reuters.com time to read: +4 min

[1/4] Amateur players take part in a competition of guandan, a poker-like card game, in Beijing, China August 13, 2023. Total U.S.-based venture-capital investment in China plummeted to $9.7 billion last year from $32.9 billion in 2021, PitchBook data shows. "In finance, information is currency," said Yang, for whom a game of guandan has become a standard gambit before wining and dining local officials. Yu Longze, a broker based in Beijing, said his boss this month ordered all staff to learn the game. In April, the ruling Communist Party's anti-graft watchdog censured one of its officials in the eastern province of Anhui for playing guandan during a training course, among other misdeeds.

Persons: Yang Yiming, Joe Biden, Xi Jinping, Yang, Yu Longze, Huang, Hua Min, Li Keshu, Yew Lun, John Geddie, Clarence Fernandez Organizations: REUTERS, Rights, China's, Total U.S, Reuters, Thomson Locations: Beijing, China, Rights BEIJING, United States, Texas, Anhui

☆ China fines Mintz $1.5 mln for 'unapproved' work, after raiding its Beijing office
▼ + stars: | 2023-08-22 | by ( Yew Lun Tian | ) www.reuters.com time to read: +2 min

The U.S. corporate due diligence firm Mintz Group's office is seen in Hong Kong, China, May 18, 2023. REUTERS/James Pomfret/File Photo Acquire Licensing RightsBEIJING, Aug 22 (Reuters) - China fined U.S. firm Mintz Group about $1.5 million for doing "unapproved statistical work", said a Beijing Municipal Bureau of Statistics notice, after a raid of its Beijing office sparked worries about China's openness to foreign investment. In a further notice on its website dated July 14, the bureau said Mintz conducted 37 such investigations from March 2019 to July 2022. The firm has previously said it is licensed to conduct legitimate business in China and that it has always operated lawfully. Chinese authorities raided Mintz's Beijing office in March and detained all five local staff, in what turned out to be the beginning of a sweeping crackdown on consultancy and due diligence firms, including Bain & Company's office in Shanghai and Capvision Partners.

Persons: Mintz, James Pomfret, Xi Jinping, Yew Lun Tian, Michael Perry Organizations: REUTERS, Rights, China, U.S, Mintz Group, Beijing Municipal Bureau, Beijing's, Statistics, Wall Street Journal, Bain, Capvision Partners, Thomson Locations: Hong Kong, China, Rights BEIJING, Beijing, Shanghai

BEIJING/SEOUL, Aug 22 (Reuters) - An Air Koryo flight from Pyongyang landed in Beijing early on Tuesday for the first time since the COVID-19 pandemic lockdowns began in 2020, as North Korea cracks open its border to some passenger travel. Cargo train and ship traffic has slowly increased over the past year, but North Korea has only just begun to allow some international passenger travel. Since the end of 2019, U.N. Security Council resolutions have required that all countries deport North Korean workers. The current Chinese ambassador to North Korea, Wang Yajun, had to wait 15 months after being named for the job before he could enter the country this March to take up his role. The Chinese foreign ministry said on Monday that Beijing had approved North Korea's state carrier Air Koryo resuming flights to China.

Persons: lockdowns, Koryo, Simon Cockerell, Kim Jong, Wang Yajun, Sophie Yu, Brenda Goh, Laurie Chen, Tian, Josh Smith, Jacqueline Wong, Raju Gopalakrishnan Organizations: North, Association of Asian Studies, Air Koryo, Civil Aviation Administration, China, Air China, Thomson Locations: BEIJING, SEOUL, Pyongyang, Beijing, North Korea, China, Russian, Kazakhstan, Vladivostok, Russia, U.N, Korea's, Koryo, Seoul

Economists say China needs measures to boost consumption and business confidence, such as tax cuts or government-funded consumption vouchers, but add that unlike previous slowdowns, there is no quick fix. Wang's comments came after weak economic activity data on Tuesday fuelled concern that China is heading for a deeper, longer slowdown. The private sector accounts for 60% of gross domestic product and 80% of urban employment, officials say. But there is a growing disconnect between officials calling for investment and a sweeping national security crackdown that is denting business confidence, diplomats in China say. One example was a recent anti-espionage law, accompanied by raids on some foreign consultancy firms, that sent waves of anxiety through the foreign business community.

Persons: Xi Jinping, Tingshu Wang, Joe Biden, Biden, Xi, Christopher Beddor, Wang Wenbin, Wang's, Lee Smith, Baker Donelson, Xu Chenggang, Xu, Laurie Chen, Yew Lun Tian, Martin Quin Pollard, John Geddie, Robert Birsel Organizations: REUTERS, Rights, GAP, State, U.S . Department of Commerce, Stanford University's Center, Chinese Communist Party, Thomson Locations: Beijing, China, Rights BEIJING, U.S, loggerheads, Taiwan

By accepting an International Atomic Energy Agency (IAEA) report last month that greenlit Japan's Fukushima water release, Yoon could encourage fresh dissent that China will try to amplify, analysts say. On Monday, Park Gu-yeon, vice minister of government policy coordination at the prime minister's office, said both sides have made "substantial progress" on the water release issue. A senior South Korean official, speaking on condition of anonymity because of diplomatic sensitivity, said the government did not see it as a source of friction. "China absolutely will try to exploit Fukushima to drive a wedge between South Korea and Japan," said David Boling, a director at consulting firm Eurasia Group. In July, Chinese foreign ministry spokesman Wang Wenbin said Japan had shown selfishness and arrogance, and had not fully consulted the international community about the water release.

Persons: Rafael Mariano Grossi, Kobayakawa, Joe Biden, Yoon Suk Yeol, Fumio Kishida, Biden, David, Yoon, Japan Rahm Emanuel, Moon Jae, Christopher Johnstone, Antony Blinken, they've, David Boling, Joshua Kurlantzick, Wang Wenbin, Hirokazu Matsuno, Tim Kelly, Sakura Murakami, Hyonhee Shin, Josh Smith, David Brunnstrom, Trevor Hunnicutt, Ekaterina Golubkova, Lun Tian, Yoshifumi, Gerry Doyle Organizations: International Atomic Energy Agency, Tokyo Electric Power Co, Japanese, Reuters, U.S, IAEA, Biden's National Security Council, Center for Strategic, International Studies, Japan, South Korean, South, Gallup, Eurasia Group, Council, Foreign Relations, Global Times, Thomson Locations: Futaba, Japan, TOKYO, SEOUL, South Korea, Tokyo, China, Washington, East Asia, Taiwan, Beijing, Russia, North Korea, United States, Australia, Britain, Seoul, Seoul . U.S, Fukushima, Korean

☆ China stats bureau sees no deflation risks, plays down property woes
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: 1 min

A customer shops for vegetables at a wet market in Beijing, China August 10, 2023. REUTERS/Yew Lun TianBEIJING, Aug 15 (Reuters) - There is no deflation in China and there will be no deflation in the future, a spokesman of China's statistics bureau said on Tuesday. China's economic recovery faces challenges, National Bureau of Statistics spokesperson Fu Linghui told a press conference in Beijing. Still, the bureau expects a decline in producer price index to moderate further, according to Fu. Fu also said that risks for property developers could be gradually resolved due to policy optimisation.

Persons: Lun Tian, Fu Linghui, Fu, Muralikumar Organizations: REUTERS, National Bureau of Statistics, Beijing, Thomson Locations: Beijing, China, Lun Tian BEIJING

But there are new good deals all the time, you just have to go out to find them." That's what deflation looks like in China. As witnessed by Japan in the 1990s, deflation - if prolonged - can weigh on economic growth. "Good deals are needed to get consumers through the door so there is a lot of pressure on these businesses to find margins," said Ben Cavender, managing director at China Market Research Group in Shanghai. Restaurant worker Dong went to a wet market in central Beijing around lunchtime on Thursday, but did not buy anything.

Persons: Gao Yi, Ben Cavender, Zhu Danpeng, Joey Wat, Dong, Sophie Yu, Marius Zaharia, Sam Holmes Organizations: China Market Research Group, Guangdong Provincial Food Safety, Alliance, HK, KFC, Reuters, Thomson Locations: BEIJING, Beijing, China, Japan, Shanghai, Guangdong

☆ 'Not found': China's ex-foreign minister is gone but wait for explanation goes on
▼ + stars: | 2023-07-31 | by ( Yew Lun Tian | ) www.reuters.com time to read: +6 min

BEIJING, Aug 1 (Reuters) - Hours after China's top legislature convened a special meeting last week to remove foreign minister Qin Gang, photos and mentions of the 57-year-old started disappearing from his former ministry's website. China named veteran diplomat Wang Yi to replace Qin, but gave few further clues on the reason for the change. Foreign ministry spokeswoman Mao Ning on Thursday said Beijing will release information in a timely matter regarding Qin and opposes "malicious hype". The foreign ministry removed all online traces to its former chief protocol officer Zhang Kunsheng who was found guilty of corruption and using his position of power to obtain sex in 2016. He then made a triple jump from director of protocol to U.S. ambassador and then to foreign minister and state councillor in five years, bullet-train speed by China standards.

Persons: Qin Gang, Qin, Gang, Xi Jinping, Wang Yi, Mao Ning, Ian Johnson, Wu Qiang, Wu, Xiao Yaqing, Zhang Kunsheng, Mao Zedong, Mao, Xi, Xi's, Alfred Wu, Lee Kwan, Yew Lun Tian, John Geddie Organizations: Foreign Ministry, State, Information Office, Council, Foreign Relations, Industry, Committee, Communist, Xinhua, Lee Kwan Yew, of Public Policy, Thomson Locations: BEIJING, China, Beijing, Washington, Singapore, Lincoln

☆ China's Wang Yi makes first statement after reappointment as foreign minister
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 28 (Reuters) - China's Wang Yi has made his first comments on Friday since his reappointment as foreign minister, promising to deepen partnerships and safeguard sovereignty in a statement posted on his ministry's website. The veteran diplomat was named foreign minister again on Tuesday, replacing rising star Qin Gang after a mysterious one-month absence that raised questions about transparency after just seven months in the job. Wang said his ministry would deepen partnerships with other countries and actively participate in reform of global governance and "resolutely safeguard the sovereignty, security, development and interests" of China. Qin was appointed foreign minister in December but had not been seen in public since June 25 when he met visiting diplomats in Beijing. Wang, Qin's predecessor at the ministry, held the foreign minister's post from 2013-2022.

Persons: Wang Yi, Qin, Wang, Beijing . Wang, Ethan Wang, Kim Coghill Organizations: Central Foreign Affairs Commission, Thomson Locations: BEIJING, China, Beijing .

☆ China's Qin Gang had meteoric rise and swift removal
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +4 min

Born in the northern city of Tianjin in 1966, Qin studied International Politics at one of China's most prestigious schools for aspiring diplomats, the University of International Relations in Beijing. After graduating, Qin entered the diplomatic service, working in several jobs at the foreign ministry as well as postings at the Chinese Embassy in Britain. Qin was twice foreign ministry spokesman, between 2006 and 2014, and chief protocol officer between 2014 and 2018, overseeing many of Xi's interactions with foreign leaders. After becoming foreign minister, Qin's comments on hot button issues such as Taiwan and China's relations with Russia did not diverge in any significant way from those of his predecessor. In his first comments as foreign minister, Qin said in solving challenges common to all mankind, China's diplomacy would offer "Chinese wisdom, Chinese initiatives and Chinese strength".

Persons: Qin Gang, Xi Jinping, Xi, Wang Yi, Qin, Britain . Qin, Antony Blinken, Wang, Yew Lun Tian, Martin Quin Pollard, Rob Birsel, Nick Macfie Organizations: Foreign, University of International Relations, Embassy, Washington, U.S, Chinese Communist Party, Thomson Locations: Tianjin, Beijing, Britain ., United States, Washington, Taiwan, Sri Lanka, Russia, Vietnam, Indonesia, Africa, Europe, Ukraine, China, American, U.S

Copper M&A more than doubled in 2002 to $14.24 billion from the previous year, according to an S&P Intelligence report. "So the large miners are saying it is difficult to build new supply, so let's just buy companies," McDonald said. Copper prices have been gradually losing steam since hitting their strongest levels in over seven months in January when optimism abounded about the reopening of China. The lower copper price presents M&A opportunities for Hudbay, Kukielski said, but it will also get "squeezed" if the price of copper falls below $3.50. With lack of large mines up for grabs, he is expecting that large miners will be looking to expand their production by acquiring smaller mines.

Persons: Lundin, Newmont, Stuart McDonald, Taseko, McDonald, Antaike, Peter Kukielski, Kukielski, Minto Metals, Aaron Colleran, Colleran, David Lennox, Divya Rajagopal, Melanie Burton, Denny Thomas, Marguerita Choy Organizations: TORONTO, Reuters, Nippon Mining, Metals, P Intelligence, Taseko, London Metal Exchange, Reuters Graphics Reuters, Hudbay, Japan's Sumitomo Corp, Minto Metals, Yukon, Royal Bank of Canada, Quantum Minerals, Ivanhoe Mines, Capstone, Barrick Gold, Bloomberg News, Barrick, AIC Mines, AIC, Sydney, Thomson Locations: SYDNEY, Toronto, Chile, Vancouver, Arizona, China, Hudbay, Canada, Yukon, Ivanhoe, Australia, Queensland, Melbourne

The move, which not been reported before, is the latest in tightening scrutiny of Chinese companies' offshore listings, and comes at a time when Beijing is stepping up controls over cross-border transfer of sensitive information. The Chinese law firms acting as IPO advisors have been asked to drop such boilerplate risk disclosures, said one of the people, who declined to be identified as the discussions were confidential. China's new offshore listing rules that came into effect on March 31 forbid any comments in the listing documents that "misrepresent or disparage laws and policies, business environment and judicial situation" of China. Representatives from the CSRC's International Cooperation Department, more than 10 Chinese law firms and other government and industry bodies attended the July 20th meeting, according to one of the people. Large domestic law firms Fangda Partners, Han Kun Law Offices，and Zhong Lun Law Firm were among the attendees, said two of the sources.

Persons: prospectuses, CSRC, Han, Zhong, Han Kun, Zhong Lun, Julie Zhu, Kane Wu, Selena Li, Sumeet Chatterjee, Tomasz Janowski Organizations: China Securities Regulatory Commission, CSRC's International Cooperation Department, Fangda Partners, Zhong Lun Law, Reuters, Thomson Locations: Beijing, China, United States, The China

The planned recipient of the colorful batik top was Chinese foreign minister Qin Gang, who has not been seen in nearly a month and is set to miss at least one other important meeting, in South Africa, next week. It is not clear whether even then Borrell would meet Qin as initially planned, the official said. The former aide to President Xi Jinping was appointed foreign minister in December after serving less than two years as ambassador to the United States. Qin's absence has also been widely discussed in the diplomatic community, with some saying it is another example of China's lack of transparency. Some diplomats have even started to speculate on who may replace Qin, with three telling Reuters the ranking vice foreign minister, Ma Zhaoxu could be a candidate.

Persons: Qin Gang, Qin, Yun Sun, Mao Ning, Wang Yi, Josep Borrell, Wen, Xi Jinping, Antony Blinken, Ma Zhaoxu, Ma, Wang, Xie Feng, Xie, Laurie Chen, Martin Quin Pollard, Yew, Tian, Kate Lamb, Gabriela Baczynska, Andrew MacAskill, John Geddie, Robert Birsel Organizations: China Program, Stimson, Reuters, EU, Australian National University, Qin, Baidu, London School of Economics, United, Aspen Security Conference, Thomson Locations: BEIJING, JAKARTA, China, Indonesia, Jakarta, South Africa, Washington, Johannesburg, Britain, United States, Beijing, Sri Lankan, United Nations, Brussels, London

Search resuls for: "Lun"

25 mentions found