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Eventually, China wants the schemes to be integrated into national emissions trading and generate credits that can offset emissions by industrial polluters, government plans show. PERSONAL CARBON TRADINGChina's carbon inclusion ambitions have been in gestation since 2015, when the southeastern province of Guangdong published rules on how to convert low-carbon activity into credits. Guangdong also allows enterprises to meet 10% of carbon reduction obligations through carbon inclusion credits. And there are worries the carbon inclusion schemes could let industrial polluters off the hook by shifting the burden of emission cuts to households. China climate official Su Wei told local media the green transformation of China would "inevitably involve profound changes in people's daily habits and consumption patterns", but he said carbon inclusion schemes would remain voluntary.

Persons: David Kirton, China's, Xie Zhenhua, Banks, Benjamin Sovacool, Li, Zhang Xin, people's, Yaqiu Wang, Su Wei, David Stanway, Sonali Paul Organizations: REUTERS, China, Communist, China Academy of Sciences, People's Bank of, Boston University, Environmental Studies, New, Thomson Locations: Pingshan district, Shenzhen, Guangdong province, China, SHENZHEN, Dubai, Guangdong, People's Bank of China, Quzhou, Finland, British, Singapore, New York, Shanghai, Beijing

☆ German government to agree budget fixes as way out of crisis
▼ + stars: | 2023-11-27 | by ( Christian Kraemer | ) www.reuters.com time to read: +3 min

Chancellor Olaf Scholz speaks next to Finance Minister Christian Lindner and Economy and Climate Minister Robert Habeck during a hearing at Germany’s lower house of parliament Bundestag in Berlin, Germany, November 15, 2023. The budget would see Germany suspend its constitutionally enshrined debt brake for a fourth year in a row as Chancellor Olaf Scholz's government fights its way out of a crisis that has triggered warnings about growth and an industry exodus. "The debt brake must remain." The debt brake, introduced after the global financial crisis of 2008-09, was first suspended in 2020 to help the government support firms and health systems during the COVID-19 pandemic. On Monday he stressed the need to give companies, who have been worried by the uncertainty caused by the budget crisis, clarity as quickly as possible.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Annegret, Olaf Scholz's, finalising, Christian Duerr, Bijan Djir, Christian Kraemer, Riham, Matthias Williams, Alison Williams Organizations: Finance, Climate, REUTERS, Rights, Free Democrats, ZDF, Greens, Thomson Locations: Berlin, Germany, Sarai, East Germany

☆ Analysis-China Turns to Households in Fight to Slash Carbon Emissions
▼ + stars: | 2023-11-26 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +7 min

Eventually, China wants the schemes to be integrated into national emissions trading and generate credits that can offset emissions by industrial polluters, government plans show. PERSONAL CARBON TRADINGChina's carbon inclusion ambitions have been in gestation since 2015, when the southeastern province of Guangdong published rules on how to convert low-carbon activity into credits. Other countries have toyed with the idea of personal carbon trading, with pilot schemes set up in Finland and Australia's Norfolk Island. Guangdong also allows enterprises to meet 10% of carbon reduction obligations through carbon inclusion credits. And there are worries the carbon inclusion schemes could let industrial polluters off the hook by shifting the burden of emission cuts to households.

Persons: David Stanway, David Kirton, China's, Xie Zhenhua, Banks, Benjamin Sovacool, Li, Zhang Xin, people's, Yaqiu Wang, Su Wei, Sonali Paul Organizations: Communist, China Academy of Sciences, People's Bank of, Boston University, Environmental Studies, New Locations: China, Shenzhen, Dubai, Guangdong, People's Bank of China, Quzhou, Finland, British, Singapore, New York, Shanghai, Beijing

☆ Argentina's Milei invites Brazil's Lula to inauguration, travels to US
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +3 min

Last week Milei, who travels to the United States on Sunday, had already softened his tone with China's communist leadership, thanking President Xi Jinping for a letter congratulating him. "I hope that our mutual time as presidents will be a stage for fruitful work and the construction of ties that consolidate the role Argentina and Brazil can and must fulfill in the concert of nations," Milei told Lula. The letter was delivered by his top foreign policy adviser, Diana Mondino, to Brazil's Foreign Relations Minister Mauro Vieira at a meeting in Brasilia. The new Argentine leader is closer politically and personally to former Brazilian President Jair Bolsonaro and has invited him to his inauguration. Milei meanwhile was set to travel to the U.S. on Sunday, a spokesperson told Reuters, noting he would attend a religious ceremony in New York and have meetings in Washington.

Persons: Javier Milei, Brazil's, Luiz Inacio Lula da Silva, Milei, Lula, Xi Jinping, Diana Mondino, Mauro Vieira, Jair Bolsonaro, Bolsonaro, Mondino, Vieira, Karina, Kristalina Georgieva, Gabriel Araujo, Lisandra, Jorge Otaola, David Gregorio, Stephen Coates Organizations: SAO PAULO, Foreign, Argentine, White, U.S . Treasury, International Monetary Fund, dollarizing, IMF, Thomson Locations: BRASILIA, BUENOS AIRES, Argentine, Brazil, United States, China, Argentina, Brasilia, Mercosur, New York, Washington, dollarizing Argentina, U.S, Sao Paulo, Buenos Aires

☆ China pledges deeper trade ties with Vietnam
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Nov 26 (Reuters) - Chinese Commerce Minister Wang Wentao pledged to deepen bilateral trade ties with Vietnam during a meeting with Vietnamese Prime Minister Pham Minh Chinh in Ho Chi Minh City on Saturday, China's commerce ministry said. China and the United States have been jostling for influence among Southeast Asian nations including Vietnam, which in September elevated its ties with Washington to a comprehensive strategic partnership, putting its one-time enemy on par with Beijing and Moscow. Chinese Vice Foreign Minister Sun Weidong held "frank and friendly talks" on bilateral ties, land borders and maritime issues with Vietnam's Deputy Foreign Minister Nguyen Minh Vu in Hanoi earlier this month. Wang also met Ho Chi Minh City's Vietnamese Communist Party secretary Nguyen Van Nen on Saturday, the Chinese commerce ministry said. Reporting by Laurie Chen; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

Persons: Wang Wentao, Pham Minh, Wang, Sun Weidong, Nguyen Minh Vu, Xi Jinping, Ho, Nguyen Van Nen, Laurie Chen, Edmund Klamann Organizations: Commerce, Vietnamese, Beijing, Foreign, Vietnam's, Reuters, Communist Party, Thomson Locations: BEIJING, Vietnam, Ho Chi Minh City, China, United States, Washington, Moscow, Hanoi

Today, they facilitate the connection to the spiritual world she needs to help fellow refugees and their American-raised children who seek restoration of lost spirits. Male heads of households who embrace traditional animist practices perform soul-calling ceremonies, venerate ancestor spirits and invoke the protection of good spirits. On a farm north of St. Paul, Moua Yang runs the hog butcher shop he started working on with his father when he was a child. “It’s ingrained in me,” said Vue, who was born in St. Paul. “Spiritual world is confusing, but once you find a path, everything is natural,” Chad Lee said.

Persons: Mee Vang Yang, ”, Tzianeng Vang, Vang Yang’s, He's, Lee Pao Xiong, Paul, haven’t, Xiong, Moua Yang, “, it’s, Yang, Sai Vue, Vue, Janessa Moua, she’s, ” Moua, Txongpao Lee, Lee, Hlee Xiong Lee, they’re, Kevin Lee, Chad Lee Organizations: PAUL, Communist, Center, Hmong Studies, Concordia University, St, Twin Cities, Hmong Cultural, Lutheran, Press, Lilly Endowment Inc, AP Locations: Laos, Minnesota, China, Cambodia, Vietnam, United States, Thailand, California, St, Southeast Asia, Wisconsin, Paul’s

☆ China Pledges Deeper Trade Ties With Vietnam
▼ + stars: | 2023-11-25 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

BEIJING (Reuters) - Chinese Commerce Minister Wang Wentao pledged to deepen bilateral trade ties with Vietnam during a meeting with Vietnamese Prime Minister Pham Minh Chinh in Ho Chi Minh City on Saturday, China's commerce ministry said. Wang said China-Vietnam trade cooperation had already achieved "fruitful results" and would include strategic areas such as the digital economy, green development and cross-border e-commerce, according to a readout published late Saturday by the Chinese ministry. China and the United States have been jostling for influence among Southeast Asian nations including Vietnam, which in September elevated its ties with Washington to a comprehensive strategic partnership, putting its one-time enemy on par with Beijing and Moscow. Chinese Vice Foreign Minister Sun Weidong held "frank and friendly talks" on bilateral ties, land borders and maritime issues with Vietnam's Deputy Foreign Minister Nguyen Minh Vu in Hanoi earlier this month. Wang also met Ho Chi Minh City's Vietnamese Communist Party secretary Nguyen Van Nen on Saturday, the Chinese commerce ministry said.

Persons: Wang Wentao, Pham Minh, Wang, Sun Weidong, Nguyen Minh Vu, Xi Jinping, Ho, Nguyen Van Nen, Laurie Chen, Edmund Klamann Organizations: Commerce, Vietnamese, Beijing, Foreign, Vietnam's, Reuters, Communist Party Locations: BEIJING, Vietnam, Ho Chi Minh City, China, United States, Washington, Moscow, Hanoi

☆ 64% of men say this is their No. 1 dating red flag, according to recent survey
▼ + stars: | 2023-11-25 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +4 min

According to a recent survey by Change Research, the biggest dating red flag for men is when someone identifies as a communist. More than half, 55%, of women said identifying as a communist is a red flag, but other sociopolitical stances were more problematic. Being a "MAGA Republican" was the biggest red flag, with 76% of women saying this was not a desirable trait. The survey results demonstrate a broader trend of men and women having increasingly divergent political views. In 2021, 44% of women identified as liberal, while only 25% of men did, according to the Survey for American Life.

Persons: Daniel Cox, Cynthia Peacock, Peacock, Daniel Huff, Donald Trump, Huff, You'd Organizations: Change Research, Republican, Survey, American, Survey Center, University of Alabama, Donald Trump White House, Washington , D.C Locations: Ukraine, Washington ,

The court ruling has called into question Germany's traditionally strict fiscal policy and sparked warnings that German companies could be starved of support to keep them globally competitive. HANDS TIEDThe crisis has sparked calls for reforming the debt brake. "With the debt brake as it is, we have voluntarily tied our hands behind our backs and are going into a boxing match," he said. A poll by broadcaster ZDF suggested only a minority of Germans supported suspending the debt brake. Some 57% wanted the budget shortfall from the court ruling to be covered by spending cuts, 11% favoured tax increases and 23% wanted the state to take on additional debt.

Persons: Olaf Scholz, Robert Habeck, Christian Lindner, Scholz, Lindner, Habeck, Steffen Hebestreit, Holger Hansen, Christian Kraemer, Miranda Murray, Rene Wagner, Matthias Williams, Toby Chopra, Gareth Jones, Deepa Babington Organizations: Climate, Finance, BERLIN, Greens, Social Democrats, Free Democrats, FDP, ZDF, Thomson Locations: Germany, Europe's, East Germany, China

☆ Terry Gou: Foxconn founder drops out of Taiwan presidential race
▼ + stars: | 2023-11-24 | by ( Wayne Chang | Michelle Toh | ) edition.cnn.com time to read: +2 min

Taipei/Hong Kong CNN —Terry Gou, the billionaire founder of major Apple supplier Foxconn, withdrew from the race to become Taiwan’s next president on Friday, just hours before the deadline to formally register as a candidate. “I have never yielded in the battlefield of international business,” Gou said in a statement, without providing a specific reason for the retreat. “For the future of the Republic of China, choosing to yield is all the love I can give to my homeland,” Gou added, referencing Taiwan’s official name. Gou founded Foxconn, established as Hon Hai Precision Industry in Taiwan, in 1974. Shortly after he announced his bid, Chinese state media reported that Foxconn was under investigation by authorities in China over land use and tax concerns.

Persons: Hong Kong CNN — Terry Gou, Taiwan’s, “, ” Gou, Gou’s, Tammy Lai, ”, Hou Yu, Ko Wen, Gou, Foxconn, wouldn’t, Hai Organizations: Hong Kong CNN, Apple, Foxconn, ih, Kuomintang, Taiwan People’s Party, Democratic Progressive Party, Hai Precision Industry, Communist, CNN, for Public Credit Locations: Taipei, Hong Kong, Republic of China, Taiwan, China, Beijing, Wuhan

[1/6] A man sings for customers touring the Erhai lake on a sightseeing bus, in Dali, Yunnan province, China November 10, 2023. Many are former city-dwellers in search of an elusive prize in authoritarian China: Space for open discussion and exchange of ideas. POLICE OVERSIGHTThe local government has sought to attract young tech talent and in September asked digital nomads for input on policies, two community organisers told Reuters. Many digital nomads who use co-working spaces are involved with technologies like blockchain, according to organisers, which they say has drawn scrutiny from local authorities. Since digital nomads, unlike university students, "are not subject to structured discipline, they are harder to manage", she said.

Persons: Florence Lo, DALI, Trump, Xi Jinping, Minhua Ling, Dali, Xi's, Bai Yunxi, Xi, Bai, Chen Zhengyun, Chen, Ling, Laurie Chen, Katerina Ang Organizations: REUTERS, Geneva Graduate Institute, Reuters, Communist Party, Thomson Locations: Dali, Yunnan province, China, China's, Israel, Gaza, Yunnan, Beijing

☆ EU human rights envoy in Cuba to discuss aftermath of 2021 protests
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +2 min

European Union's Special Representative for Human Rights, Eamon Gilmore, speaks during a meeting with Cuban authorities in Havana, Cuba, November 24, 2023. EU foreign policy chief Josep Borrell, on a visit to Cuba earlier this year, announced Gilmore`s visit but told reporters the EU would not "impose" demands on the island`s government. Rights groups say around 1,000 Cubans were jailed for their political beliefs following the demonstrations and several subsequent protests. "No one is convicted for their political opinions," Cuba`s foreign ministry said prior to Gilmore`s visit on social media. "We call on the Cuban government to respect the human rights of everyone, including the rights of political prisoners and those unjustly detained."

Persons: Eamon Gilmore, Alexandre Meneghini, Gilmore, Josep Borrell, Fidel Castro's, Luis Barrios Díaz, la Torre, Barrios Diaz `, Dave Sherwood, Alien Fernandez Organizations: Human Rights, Cuban, REUTERS, Rights, EU, European Union, U.S, U.S ., Thomson Locations: Havana, Cuba, Rights HAVANA, United States, EU, Cuban

The court ruling has called into question Germany's traditionally strict fiscal policy and sparked warnings that German companies could be starved of support to keep them globally competitive. The debt brake, introduced after the global financial crisis of 2008/09, was first suspended in 2020 to help the government support firms and health systems during the COVID-19 pandemic. HANDS TIEDThe crisis has sparked calls for reforming the debt brake. "With the debt brake as it is, we have voluntarily tied our hands behind our backs and are going into a boxing match," he said. A poll by broadcaster ZDF suggested only a minority of Germans supported suspending the debt brake.

Persons: Christian Lindner, Fabrizio Bensch, Scholz, Olaf Scholz, Lindner, Robert Habeck, Habeck, Steffen Hebestreit, Holger Hansen, Christian Kraemer, Miranda Murray, Rene Wagner, Matthias Williams, Toby Chopra, Gareth Jones Organizations: REUTERS, BERLIN, Finance, Greens, ZDF, Thomson Locations: Berlin, Germany, Europe's, East Germany, China

☆ Argentina's Milei thanks Chinese president, in softening of tone
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +2 min

Argentine presidential candidate Javier Milei addresses supporters as they react to the results of Argentina's runoff presidential election, in Buenos Aires, Argentina November 19, 2023. REUTERS/Agustin Marcarian Acquire Licensing RightsBUENOS AIRES, Nov 22 (Reuters) - Argentine President-elect Javier Milei on Wednesday thanked Chinese President Xi Jinping for a letter congratulating him on last Sunday's elections results, a softening of tone from earlier harsh criticism of China's communist leadership. "I thank President Xi Jinping for the congratulations and good wishes," Milei said on his personal X account. Since the election, Milei has softened his tone with many he has previously criticized, including his countryman Pope Francis. In a separate post on Wednesday, Milei thanked former U.S. President Donald Trump for congratulations from his campaign team and said he hoped to meet soon.

Persons: Javier Milei, Agustin Marcarian, Xi Jinping, Milei, Xi, Pope Francis, Donald Trump, Adam Jourdan, Gabriel Araujo, Sarah Morland, Kylie Madry Organizations: Argentine, REUTERS, South American Mercosur, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Argentine, China, Brazil

☆ How climate change got sucked into the culture wars
▼ + stars: | 2023-11-23 | by ( Laura Paddison | Ella Nilsen | ) edition.cnn.com time to read: +11 min

For an example of how climate change is increasingly becoming a flashpoint in the culture wars, Germany is a good place to start. Meanwhile, Spain’s far-right Vox party vowed to defend the country against “the new climate religion.”But to understand why climate change and the culture wars have become so enmeshed globally, experts say the United States probably holds the key. It’s effective, it does scare people.”The origins of the climate culture war in the US lie in the early 1990s, when a new push for global climate action collided with big geopolitical change, McCright said. Lightning rod for right wing mediaConservative media has played an outsized role in fueling culture war narratives, according to experts. Fox has “been laying the groundwork necessary for positioning climate policies as a culture war issue for a long time,” she said.

Persons: —, stoked, ”, Miranda Schreurs, Anger, Green, Kristin Brinker, Jörg, Stephan Lewandowsky, Rishi Sunak, “, ” Sunak, Vox, Ron DeSantis, ” DeSantis, Aaron McCright, McCright, ” McCright, ’, Brandon Bell, Lewandowsky, “ you’d, ” Alec Tyson, Alexandria Ocasio, Cortez, Sen, Ed Markey, Allison Fisher, Fisher, Fox, didn’t, Ed Matthew, Matthew said, Jennie King, ” King, Germany —, Matthew of E3G, ” Schreurs, “ it’s Organizations: CNN, Green Party, Technical University of Munich, University of Bristol, British, Justice, Florida Gov, Republican, Michigan State University, Oil, Republicans, Pew Research, Pew, Conservative, Massachusetts, Green, Deal, Fox, Media, Institute for Strategic Locations: Germany, Charlottenburg, Berlin, Europe, United States, West Texas, Florida, American, Kyoto, Soviet Union, Federal, Midland , Texas, Alexandria, Cortez of New York

☆ Cuba stages pro-Palestine march past US embassy in Havana
▼ + stars: | 2023-11-23 | by ( Nelson Acosta | ) www.reuters.com time to read: +2 min

[1/5] People shout slogans during a march in support of Palestinians, calling for a ceasefire and for charging Israel with committing “genocide” in Gaza, in Havana, Cuba, November 23, 2023. REUTERS/Alexandre Meneghini Acquire Licensing RightsHAVANA, Nov 23 (Reuters) - Tens of thousands of Cubans on Thursday marched in front of the U.S. embassy in Havana charging Israel was committing “genocide” against Palestinians in Gaza. Communist-run Cuba has been a strong backer of the Palestinian cause for decades and has trained more than 200 Palestinian doctors. "We are here and it is no coincidence that we have marched in front of the United States embassy," Anet Rodríguez, a university professor, said. Since then, some 14,800 Gazans have been killed by Israeli bombardment, around 40% of them children, according to Palestinian health authorities.

Persons: Alexandre Meneghini, Israel, Miguel Diaz, Fidel Castro, Marc Frank, Anet Rios, Diane Craft Organizations: REUTERS, Rights, U.S, United, State, Thomson Locations: Gaza, Havana, Cuba, Rights HAVANA, Cuban, Palestine, Israel, Communist, United States

☆ Chasing a Different China Dream, Young Digital Nomads Head for the Hills
▼ + stars: | 2023-11-23 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +6 min

Many are former city-dwellers in search of an elusive prize in authoritarian China: Space for open discussion and exchange of ideas. POLICE OVERSIGHTThe local government has sought to attract young tech talent and in September asked digital nomads for input on policies, two community organisers told Reuters. Many digital nomads who use co-working spaces are involved with technologies like blockchain, according to organisers, which they say has drawn scrutiny from local authorities. "We are more low-key and don't emphasise digital nomads in our marketing anymore," one co-working space staffer told Reuters, adding that conservative local governments in rural towns like Dali are "cautious of emerging technologies". Since digital nomads, unlike university students, "are not subject to structured discipline, they are harder to manage", she said.

Persons: Laurie Chen DALI, Trump, Xi Jinping, Minhua Ling, Dali, Xi's, Bai Yunxi, Xi, Bai, Chen Zhengyun, Chen, Ling, Laurie Chen, Katerina Ang Organizations: Geneva Graduate Institute, Reuters, Communist Party Locations: China, China's, Israel, Gaza, Dali, Yunnan, Beijing

His party more than doubled in size in parliament to tower over mainstream parties that long specialized in marginalizing him. Suddenly on Thursday, there was hope in the air again for nationalist conservative populists, especially with an European Parliament election coming up in June. Earlier, Slovakia had already turned populist with Robert Fico’s Smer party winning a general election and setting up a coalition government with an ultranationalist party. Wilders calls for a “Nexit” referendum — a Dutch version of Brexit which saw the United Kingdom leave the EU. By nature, Dutch politics rely on coalitions between several parties and no other suitable party has followed Wilders on that.

Persons: Geert Wilders, firebrand Wilders, “, Alice Weidel, Wilders, Robert Fico’s Smer, Viktor Orbán, behemoth, Le Pen, ”, Hendrik Vos, Vos, Matteo Salvini Organizations: Party for Freedom, Law, European Union, EU, France, Inter, Ghent University, League Locations: BRUSSELS, Europe, Poland, Netherlands, Germany, Ukraine, Slovakia, Hungarian, France, United Kingdom, Italian, Italy

☆ Japan's Kishida sends letter to China's Xi - NHK
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +1 min

[1/2] Japan's Prime Minister Fumio Kishida speaks during a summit discussion on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, at the Stanford, California, U.S., November 17, 2023. REUTERS/Brittany Hosea-Small/File Photo Acquire Licensing RightsTOKYO, Nov 23 (Reuters) - A Beijing delegation of Komeito, the junior coalition partner of Japan's ruling party, handed a letter from Prime Minister Fumio Kishida for Chinese President Xi Jinping in a meeting with China's top leadership team on Wednesday, NHK reported. The broadcaster did not say what was in the letter. Komeito representatives and Kishida's office were not available to comment on Thursday, a public holiday in Japan. Yamaguchi and Cai also agreed to work toward a resumption of dialogue between the CPC and the coalition of the ruling Liberal Democratic Party (LDP) and Komeito, NHK reported.

Persons: Fumio Kishida, Brittany Hosea, Xi Jinping, Natsuo Yamaguchi, Cai Qi, Yamaguchi, Cai, Makiko Yamazaki, Stephen Coates Organizations: Japan's, Economic Cooperation, Stanford, REUTERS, Rights, Komeito, Wednesday, NHK, Communist Party of China, CPC, Central Committee, Liberal Democratic Party, Thomson Locations: Asia, California, U.S, Beijing, Japan, Taiwan

☆ Vietnam to Extend Anti-Graft Drive as Police Reveal Real Estate Fraud Worth 3% of GDP
▼ + stars: | 2023-11-23 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +3 min

By Khanh Vu and Francesco GuarascioHANOI (Reuters) - Vietnam's top leader vowed to extend "for the long-term" an anti-corruption campaign that has had a chilling effect on the economy, after police revealed financial scandals in the real estate sector worth more than 3% of gross domestic product. Trong's remarks came after the police announced the outcome of months-long investigations into two financial scandals, revealing for the first time the scale of the fraud, worth a combined $12.8 billion, or 3.2% of the economy. The case had been widely publicised when My Lan was arrested in October last year and led to a crisis in the real estate sector and the market for corporate bonds, which she has been accused of issuing illegally in large amounts. The huge scale of the fraud had not been known until this week and has raised concern among financial experts about the impact on the banking sector. In September, the Asian Development Bank warned of potential spillover into banking from the crisis in the real estate sector as the ratio of non-performing loans increased.

Persons: Khanh Vu, Francesco Guarascio HANOI, Nguyen Phu Trong, Trong's, Truong My Lan, Van Thinh, Lan, Morgan, Moody's, Tan, Francesco Guarascio, Robert Birsel Organizations: Communist Party's, Van Thinh Phat Holdings Group, Stock Commercial Bank, Morgan Research, Asian Development Bank, Group Locations: Communist, Saigon, China

☆ Exclusive: China govt advisers call for steady growth target in 2024, more stimulus
▼ + stars: | 2023-11-22 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

Five of the seven advisers who spoke with Reuters said they favoured a target of around 5%, matching this year's goal. The proposals will be made next month at the ruling Communist Party's annual Central Economic Work Conference that discusses policy plans and the outlook for the world's second-largest economy. "We need to adopt expansionary fiscal and monetary policy to stimulate aggregate demand," Yu Yongding, a government economist who advocates for a growth target of roughly 5%, told Reuters. "We are stepping up fiscal policy support," said another adviser, to make the "difficult" 2024 target "achievable." The stuttering post-COVID recovery has prompted many analysts to call for structural reforms that tilt the drivers of economic growth away from property and infrastructure investment and towards household consumption and market-allocation of resources.

Persons: Yu Yongding, Yu, Guan Tao, Xi Jinping, Kevin Yao, Marius Zaharia Organizations: Reuters, Communist, Economic Work Conference, BOC International, State Administration of Foreign Exchange, Thomson Locations: China, BEIJING, Beijing, outflows, Japan

☆ Goldman Sachs expects China stocks to make first annual gain in 4 years in 2024
▼ + stars: | 2023-11-22 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

"Our view is very clear," Kinger Lau, Goldman Sachs chief China equity strategist, told CNBC's "Squawk Box Asia" on Tuesday. China rebalancingWith just under six weeks of the year remaining, the MSCI China and CSI 300 indexes are both poised for third-straight annual losses. Goldman Sachs noted both mutual and hedge fund mandates globally are running with multi-year low allocations in Chinese stocks. Key changesIn their latest outlook paper, Goldman Sachs strategists upgraded the food and beverage sector to overweight from market weight and technology hardware sector to overweight from underweight. Real estate has been a key driver of the downturn in the Chinese economy after Beijing started cracking down on the debt levels of mainland developers in 2020.

Persons: Goldman Sachs, Kinger Lau, CNBC's, it's, Lau Organizations: Getty, 20th Central Committee, Chinese Communist Party, CSI Locations: Beijing, China

☆ Exclusive: China to name finance veteran Zhu as new forex chief, sources say
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +3 min

The building of State Administration of Foreign Exchange (SAFE) is pictured in Beijing, China, January 11, 2017. Zhu's appointment to lead the State Administration of Foreign Exchange (SAFE) is expected to be announced as soon as this week, said one of the sources. Zhu, 55, would also be named a deputy governor of the People's Bank of China (PBOC), which oversees the foreign exchange regulator, said the source. Zhu will take over the forex regulatory head role from Pan Gongsheng, who has held the post since 2016 and who was named the central bank governor in July. An engineering graduate from the Shanghai University of Finance and Economics, Zhu has also been a deputy central bank governor, and vice governor of Sichuan province in southwestern China.

Persons: Jason Lee, Zhu Hexin, Zhu, Pan Gongsheng, Goldman Sachs, Sumeet Chatterjee, Muralikumar Organizations: Administration of Foreign Exchange, REUTERS, Rights, CITIC Group, State Administration of Foreign Exchange, People's Bank of China, Communist, Reuters, SAFE, Bank of Communications, Bank of China, Shanghai University of Finance, Thomson Locations: Beijing, China, Rights BEIJING, HONG KONG, Sichuan, outflows, Hong Kong

☆ Cuban ministers reveal details of food, fuel shortages amid economic crisis
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

Minister after minister have delivered the bad news as the import-dependent Communist-run country weathers a fourth year of crisis, scraping by with a minimum of foreign exchange as output plummets. Food production, the supply of phamaceuticals and transportation are down by at least 50% since 2018, the top officials said, and continued to decline this year in large part due to chronic fuel shortages and power outages. "The ministers provided new information revealing just how serious the crisis is and that growth this year is very doubtful," Cuban economist Omar Everleny said. Public transportation, vital in a country where few have vehicles, has also been hobbled by fuel shortages and difficulties in obtaining spare parts. If before the collapse of former benefactor the Soviet Union "there were 2,500 buses operating in Havana ... today there are just 300 compared with 600 four years ago," Transportation Minister Eduardo Rodríguez Davila said.

Persons: weathers, Omar Everleny, Ydael Jesus Perez, Tania Margarita Cruz, Eduardo Rodríguez Davila, Marc Frank, Sandra Maler Organizations: Senior Cuban, Agriculture, Industry, Thomson Locations: Cuba, Caribbean, Cuban, Soviet Union, Havana .

☆ Shanghai Industrial Investment: Another executive in China being investigated by corruption watchdog
▼ + stars: | 2023-11-21 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Another business leader in China is being probed by the country’s anti-graft watchdog, in a sign of an ongoing crackdown in the world’s second largest economy. Zhou Jun, president of state-owned Shanghai Industrial Investment, is under investigation by the Shanghai Municipal Commission for Discipline Inspection, a branch of the Central Commission for Discipline Inspection (CCDI), according to a CCDI statement Monday. Shanghai Industrial Investment’s business spans infrastructure, property and pharmaceuticals. Just this month, the CCDI said it was investigating Zhang Hongli, a former senior executive vice president at the Industrial and Commercial Bank of China. That was followed by a report by Chinese state-owned media outlet Cover News that tech entrepreneur Chen Shaojie had become unreachable, citing unconfirmed reports that he was being investigated.

Persons: Zhou Jun, CCDI, Zhou, ”, Zhang Hongli, Chen Shaojie, Chen, Tencent, Fred Hu Organizations: Hong Kong CNN, Shanghai Industrial Investment, Shanghai Municipal Commission, Central Commission, Shanghai Industrial, Industrial, Commercial Bank of China, CNN, International, Bloomberg, Primavera Capital Locations: China, Hong Kong, Shanghai

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