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☆ What Wall Street can expect from key Biden-Xi meeting as U.S.-China relations remain tense
▼ + stars: | 2023-11-14 | by ( Pia Singh | ) www.cnbc.com time to read: +7 min

Chinese companies, meanwhile, have accelerated in global patent holdings in the cybersecurity sector, according to a recent Nikkei report. More reassurance to Chinese investors To be sure, while these stocks continue to rally, investors in the U.S. largely remain cautious about making any trades based on expectations ahead of the Biden-Xi talks. If anything, Chinese investors could leave Wednesday with more reassurance—which China's economy desperately needs as it struggles to make a post-pandemic recovery. Chinese investors "remain concerned that the deterioration in the bilateral political relationship could have a negative impact on the Chinese economy," Matthews investment strategist Andy Rothman said. Shaun Rein of China Market Research Group told CNBC last week that the meeting "might lower down the temperature," but that he does not expect "anything meaningful" to come from it.

Persons: Joe Biden, Xi Jinping, Frederic Neumann, Neumann, Biden, Xi, Brian Gardner, Gardner, Neo Wang, Wang, Tesla, BYD, Matthews, Andy Rothman, Shaun Rein, Rein, Derek Scissors, CNBC's Organizations: HSBC, Economic Cooperation, South China Morning Post, U.S . Department of Commerce, Nikkei, Micro Devices, Intel, Nvidia, AMD, Micron, MU, Microsoft, Biden, China Market Research Group, CNBC, American Enterprise Institute Locations: China, U.S, Asia, San Francisco, Washington, Beijing, Tesla's China, Europe, South Korea, Japan

☆ Biden and Xi will sign a deal to keep AI out of control systems for nuclear weapons: report
▼ + stars: | 2023-11-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

China's President Xi Jinping and US President Joe Biden will meet this week. They're expected to agree to limit the use of AI in nuclear weapons, a report said. AdvertisementAdvertisementUS President Joe Biden and his Chinese counterpart Xi Jinping are set to sign a deal limiting the use of artificial intelligence in nuclear weapon control systems, according to The South China Morning Post. Biden and Xi will pledge a deal limiting the use of AI in autonomous weaponry, such as drones, as well as the systems used for the control and deployment of nuclear warheads, the report said. Secretary of State Antony Blinken was asked last week about prospects the US and China could come to some understanding about keeping AI in nuclear weapons.

Persons: Xi Jinping, Joe Biden, They're, —, Xi, Biden, Vladimir Putin, Volodymyr Zelenskyy, Oriana Skylar Mastro, Stanford University's Freeman, Antony Blinken Organizations: Service, South China Morning Post, Economic Cooperation, White, Stanford, Stanford University's Freeman Spogli Institute for International Studies Locations: China, Asia, San Francisco, Ukraine, Russian, Israel, Beijing, Gaza, Hague, Bletchley Park, Japan

☆ China boldly claims it has a plan to mass produce humanoid robots that can 'reshape the world' within two years
▼ + stars: | 2023-11-06 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

China revealed its bold plans to mass produce "advanced-level" humanoid robots by 2025. The MIIT believes that humanoid robots will be as "disruptive" as smartphones and electric vehicles. AdvertisementAdvertisementChina revealed ambitious plans to mass produce humanoid robots, which it believes will be as "disruptive" as smartphones. For example, Chinese startup Fourier Intelligence said it would start mass producing its GR-1 humanoid robot by the end of this year, South China Morning Post reported. Even Tesla is developing its own humanoid robots called Optimus, or Tesla Bot, as Elon Musk revealed in 2021.

Persons: —, that's, Damion Shelton, Tesla, Elon Musk, Musk Organizations: China's Ministry of Industry, Information Technology, Service, Bloomberg, Intelligence, China Morning Post Locations: China, Shanghai, Oregon, Seattle

Chinese Vice Premier He Lifeng attends a joint press conference following the 10th China-EU High-Level Economic and Trade Dialogue at the Diaoyutai State Guesthouse in Beijing, China September 25, 2023. He, 68, replaced internationally respected Liu He as one of China's four vice premiers during its annual parliament session in March. The full scope of his portfolio had been largely unclear until Sunday when state media referred to him as the director of a powerful Communist Party economic body. "He Lifeng mainly implements policies from the top leader," said a policy adviser who spoke on condition of anonymity, referring to Xi. "Now under the leadership of the Party ... there will be closer cooperation among the top economic planner, central bank and the finance ministry."

Persons: Lifeng, Florence, Xi Jinping's, Liu, Xi, Liu He, Li Keqiang, Peng Liyuan, Kevin Yao, Laurie Chen, Joe Cash, Ellen Zhang, Marius Zaharia Organizations: REUTERS, Rights, Communist Party, Central Financial Commission, Harvard, Investors, State Council, Party, Xiamen University, National Development, Reform Commission, Thomson Locations: China, EU, Diaoyutai, Beijing, Rights BEIJING, China's, Washington, Europe, Quanzhou, Fujian, Xiamen, Tianjin, Lincoln

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBEIJING/SHANGHAI, Oct 30 (Reuters) - China will send Wu Zhaohui, a Vice Minister of Science and Technology, to a global summit on artificial intelligence this week in Britain, two sources familiar with the matter said. Former Prime Minister Tony Blair visited Beijing earlier this month and met Chinese Foreign Minister Wang Yi, as Beijing seeks to boost ties with the Labour party ahead of a general election likely next year. China's science ministry and foreign ministry, as well as the Chinese Academy of Sciences, did not respond immediately to faxed requests for comment. Wu was appointed to his role in the science ministry in December 2022. Like many countries around the world, China has been caught up in a global craze over generative AI following the popularity of OpenAI's ChatGPT last year.

Persons: Dado Ruvic, Wu Zhaohui, James, Boris Johnson, Tony Blair, Wang Yi, Wu, Xi Jinping, OpenAI's ChatGPT, Laurie Chen, Brenda Goh, Miral Organizations: REUTERS, Rights, Science, Technology, Labour, Chinese Academy of Sciences, HK, Foreign, Commonwealth, Development, Thomson Locations: Rights BEIJING, SHANGHAI, China, Britain, Beijing, British, London, Hong Kong, United States, Shanghai

[1/3] China's Premier Li Keqiang waves as he arrives for a news conference after the closing ceremony of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, China, March 15, 2017. Li was premier and head of China's cabinet under Xi for a decade until stepping down from all political positions in March. Adam Ni, an independent China political analyst, described Li as "a premier who stood powerless as China took a sharp turn away from reform and opening". A glowing 2014 state media profile of Li, praising him as "a calm and tough wall-breaker", went viral shortly after his death was announced. Li's frequent visits to disaster sites and his easy camaraderie when speaking to ordinary people were also highlighted on Chinese state media.

Persons: Li, Damir Sagolj, Li Keqiang, Xi Jinping, Xi, Deng Xiaoping, Alfred Wu, Lee, Zhu Rongji, Wen Jiabao, Wu, Adam Ni, Jiang Zemin, Deng, Li Yining, Hu Jintao, Cheng Hong, Laurie Chen, Tian, William Mallard Organizations: People's Congress, of, People, REUTERS, Rights, Communist Party, CCTV, Weibo, Australian National University, Lee Kuan Yew, of Public Policy, Peking University, Communist Party's Youth League, Youth League, Shanghai, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai, Singapore, Social, Anhui, Henan, Liaoning

Russian President Vladimir Putin shakes hands with Chinese President Xi Jinping during a meeting at the Belt and Road Forum in Beijing, China, October 18, 2023. "If the United States can effectively rally the world, it’s bad for them. SUPPORT FOR PALESTINEWhile the strategies of Russia and China in the Middle East are not fully aligned they have much in common. Russia said on Thursday it was coordinating Middle East policy with China. The United States has been trying, with limited success, to persuade the global south to rally behind Ukraine.

Persons: Vladimir Putin, Xi Jinping, Sergei Guneev, Israel, Wang Yi, Putin, Xi, Jon Alterman, Bashar al, Assad, Jean, Loup Samaan, Carice Witte, Alterman, Ma Xiaolin, Ma, James Pomfret, Guy Faulconbridge, Don Durfee, Robert Birsel Organizations: Forum, Sputnik, Rights, Initiative, Palestinian, Middle, Center for Strategic, International Studies, PALESTINE, Middle East Institute of, National University of Singapore, United, Ukraine, Israel, Zhejiang International Studies University, Thomson Locations: Beijing, China, Rights BEIJING, WASHINGTON, Gaza, Russia, Moscow, United States, Israel, States, East, Africa, Latin America, Asia, Palestine, Washington, U.S, Ukraine, Saudi Arabia, Iran, Tel Aviv, Hong Kong

[1/5] Chinese President Xi Jinping greets Russian President Vladimir Putin as they attend the opening ceremony of the Belt and Road Forum (BRF), to mark the 10th anniversary of the Belt and Road Initiative at the Great Hall of the People in Beijing, October 18, 2023. Putin and other foreign leaders sat with key Chinese officials from the 25-member Politburo on the front row, as Xi delivered his opening speech. The forum centres on the Belt and Road Initiative (BRI), a grand plan launched by Xi in 2013, that envisioned building global infrastructure and energy networks connecting Asia with Africa and Europe through overland and maritime routes. Western scepticism of Xi's grand plans stems from suspicions over the way it would extend China's global influence, analysts say. Xi is pushing to make the Belt and Road smaller and greener, moving away from big-ticket projects like dams to high-tech ones such as digital finance and e-commerce platforms.

Persons: Xi Jinping, Vladimir Putin, Edgar Su, Xi, Putin, BRI, Viktor Orban, Haji Nooruddin Azizi, Antoni Slodkowski, Simon Cameron, Moore Organizations: Initiative, of, People, REUTERS, Rights, Forum, EU, Washington, Thomson Locations: Beijing, Rights BEIJING, Tiananmen, Asia, Africa, Europe, China, Western Europe, United States, Ukraine

[1/3] Russian President Vladimir Putin is welcomed by Chinese President Xi Jinping during a ceremony at the Belt and Road Forum in Beijing, China, October 17, 2023. Sputnik/Sergei Savostyanov/Pool via REUTERS Acquire Licensing RightsSummary Putin praises 'dear friend' Xi, thanks for invitePutin heaps praise on BRIPutin says Northern Sea route is open for businessSome European delegates walk out as Putin speaksBEIJING, Oct 18 (Reuters) - President Vladimir Putin on Wednesday praised Chinese President Xi Jinping for the Belt and Road Initiative (BRI) and invited global investment in the Northern Sea route which he said could deepen trade between east and west. Putin called Xi his "dear friend" and heaped praise on the Belt and Road Initiative for bringing the world together. "Starting next year, navigation for ice-class cargo ships along the entire length of the Northern Sea Route will become year-round." Reporting by Vladimir Soldatkin in Moscow and Laurie Chen in Beijing; Editing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Vladimir Putin, Xi Jinping, Sergei Savostyanov, Putin, Xi, BRI Putin, Jean, Pierre Raffarin, Sergei Lavrov, Alexander Novak, Dmitry Chernyshenko, Dmitry Peskov, Maxim Oreshkin, Yuri Ushakov, Maxim Reshetnikov, Igor Morgulov, Vladimir Soldatkin, Laurie Chen, Guy Faulconbridge Organizations: Forum, Sputnik, REUTERS Acquire, Wednesday, Initiative, Soviet Union, French, Kremlin, Thomson Locations: Beijing, China, Northern, BEIJING, Ukraine, Russia, Murmansk, Russia's, Norway, Bering, Alaska, Moscow, North Korea

[1/5] Chinese President Xi Jinping greets Russian President Vladimir Putin as they attend the opening ceremony of the Belt and Road Forum (BRF), to mark the 10th anniversary of the Belt and Road Initiative at the Great Hall of the People in Beijing, October 18, 2023. REUTERS/Edgar Su Acquire Licensing RightsBEIJING, Oct 18 (Reuters) - Chinese President Xi Jinping warned against decoupling from China as he opened the Belt and Road Initiative (BRI) forum in Beijing on Wednesday, criticizing Western efforts to reduce dependence on the Chinese economy. The trade disruptions of the pandemic years have also added urgency to the desire to limit their dependence on China. WESTERN SCEPTICISMWestern scepticism of Xi's grand plans stems from suspicions over the way it would extend China's global influence, analysts say. Xi is making the Belt and Road smaller and greener, moving away from big-ticket projects like dams to high-tech ones such as digital finance and e-commerce platforms.

Persons: Xi Jinping, Vladimir Putin, Edgar Su, Xi, Putin, BRI, Viktor Orban, Haji Nooruddin Azizi, Azizi, Xi's, Antoni Slodkowski, Simon Cameron, Moore Organizations: Initiative, of, People, REUTERS, Rights, EU, Washington, Thomson Locations: Beijing, Rights BEIJING, China, Asia, Africa, Europe, Tiananmen, Taiwan, Western Europe, Afghanistan, Northern

EU High Representative for Foreign Affairs and Security Policy Josep Borrell attends EU-China High-Level Strategic Dialogue at the Diaoyutai State Guest House in Beijing, China, on October 13, 2023. "Cooperation is very much important," Borrell told a press conference ending a three-day visit that had twice been postponed. During talks in Beijing last month, China's economy tsar, He Lifeng, asked EU Trade Commissioner Valdis Dombrovskis to "exercise restraint in the use of trade remedy measures". The EU plans to open an anti-subsidy investigation into Chinese steelmakers this month, the Financial Times has reported. The EU and China plan a summit by the end of the year, with Borrell's visit and those of a number of other top EU officials in recent months having paved the way.

Persons: Josep Borrell, Pedro Pardo, Borrell, Enrique Mora, Wang Yi, Lifeng, Valdis Dombrovskis, Laurie Chen, Joe Cash, William Mallard Organizations: EU, Representative, Foreign Affairs, House, REUTERS Acquire, EV, Financial Times, Thomson Locations: EU, China, Beijing, BEIJING, Brussels, Europe, United States, Ukraine, Israel, Gaza, Russia

[1/2] High Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell speaks during an event at Peking University in Beijing, China October 13, 2023. REUTERS/Xiaoyu Yin Acquire Licensing RightsBEIJING, Oct 13 (Reuters) - The European Union's foreign policy chief, Josep Borrell, urged China on Friday to redress economic and trade imbalances or efforts by Europe to reduce its dependence on China may "accelerate far more than is good". Borrell is on a three-day visit to China and is expected to have discussions on thorny issues including trade, Ukraine and human rights. "It is ... in our interest to find common ground, to redress the imbalance in our economic and trade relations," Borrell told students at the capital's prestigious Peking University. The trip was initially postponed in April after Borrell tested positive for COVID-19, and was then cancelled in June by China without citing a reason.

Persons: Josep Borrell, Borrell, Wang Yi, Lifeng, Laurie Chen, Albee Zhang, Philip Blenkinsop, Jamie Freed, Robert Birsel Organizations: European Union for Foreign Affairs, Peking University, REUTERS, Rights, EU, China Summit, Global Times, Thomson Locations: Beijing, China, Rights BEIJING, Europe, Ukraine, Shanghai, Russia, Brussels, Taiwan, EU, United States, decouple, Taiwan Strait

[1/6] Visiting U.S. Senate Majority Leader Chuck Schumer, D-N.Y., is greeted by Chinese President Xi Jinping before their bilateral meeting at the Great Hall of the People in Beijing, Monday, Oct. 9, 2023. Andy Wong/Pool via REUTERS Acquire Licensing RightsBEIJING, Oct 10 (Reuters) - U.S. Senate Majority Leader Chuck Schumer said on Tuesday there had been "serious engagement" during a meeting between a visiting U.S. bipartisan congressional delegation and Chinese President Xi Jinping. The visit aims to advance U.S. economic and national security interests ahead of a potential summit between Xi and U.S. President Joe Biden next month. "There was serious engagement with President Xi and others," Schumer said during a briefing at the Beijing residence of U.S. During Monday's meeting, Xi said "competition and confrontation are not in line with the trend of the times", according to a Chinese state media readout.

Persons: Chuck Schumer, Xi Jinping, Andy Wong, Joe Biden, Biden, Xi, Schumer, Nicholas Burns, Mike Crapo, Israel, Antoni Slodkowski, Laurie Chen, Andrew Heavens, Nick Macfie Organizations: U.S, of, People, REUTERS Acquire, Rights, United, Thomson Locations: Beijing, Rights BEIJING, U.S, Xi, United States, China, Taiwan, Asia, South Korea, Japan

☆ Trump is furious at Forbes after the publication dropped him from its 400 wealthiest Americans list
▼ + stars: | 2023-10-09 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Trump is angry that Forbes kicked him off of its list of wealthiest Americans. Forbes says Trump just isn't worth enough money, especially because his social media play fizzled. AdvertisementAdvertisementDonald Trump on Monday lashed out at Forbes after the financial publication recently dropped the former president from its list of the 400 wealthiest Americans that includes the likes of Elon Musk, Jeff Bezos, and Warren Buffett. One of the main reasons was that Truth Social, the very social media platform where Trump lashed out at Forbes, has lost significant value. A spokesperson for Forbes pointed Insider to the publication's own story, which included a statement that defended Forbes' view of Trump's net worth.

Persons: Trump, Forbes, —, Donald Trump, Elon Musk, Jeff Bezos, Warren Buffett, Stormy Daniels, Rosie O'Donnell, Crooked Joe, " Forbes, Dan Alexander, Letitia James, Austin Russell Organizations: Forbes, Service, Monday, Trump, Republicans, New York, New, Kong, Media Investments, Whale Media Investments, China Investment Corp, China Morning Post, New York Times, Washington, Communist Party, Trump Organization Locations: China, Hong

☆ Tourists are still not returning to China and that's not good for anybody
▼ + stars: | 2023-09-26 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

International tourism to China is still well below pre-pandemic levels. Tourism is one of several economic woes in China that could spill over into the global economy. Now add another problem — China's tourism industry is struggling to recover from the pandemic. AdvertisementAdvertisementThe China Tourism Association noted in May that "the number of visitors from Europe, America, Japan and Korea are all dropping, substantially," The Japan Times reported. China's problems could spill over into the global economyTrouble for China's economy could mean more bad news for the rest of the world.

Persons: —, Fan Lei, Taylor, Grace Smith, Janet Yellen, Joe Biden, Tourism hasn't, They're Organizations: Tourism, Service, Street Journal, China Tourism Association, Japan Times, Tourists, Forbidden, US State Department, CNN, China Morning, MediaNews, Denver Locations: China, Ukraine, Europe, America, Japan, Korea, Forbidden City, Denver

BEIJING, Sept 22 (Reuters) - A leading activist in China's #MeToo movement went on trial for subversion on Friday, according to several diplomats and a spokesperson for a campaign group calling for her release. The day before her arrest, Huang had been scheduled to fly to Britain to begin a master's degree at the University of Sussex on a British government-funded scholarship, the campaign group spokesperson said. Huang, an independent journalist who covered Chinese #MeToo allegations and the 2019 Hong Kong anti-government protests, had been detained by Chinese police for three months in late 2019. The campaign group spokesperson said the charges of sedition against her and Wang were based on the gatherings the two activists often held for Chinese youth during which they discussed social issues. The police did not respond to a faxed request to comment on the allegations made by the campaign spokesperson.

Persons: Huang Xueqin, Wang Jianbing, Huang, Wang, Laurie Chen, Miral Organizations: People's, University of Sussex, Police, British Foreign Office, Hong, Thomson Locations: BEIJING, China's, Guangzhou, United States, Britain, Germany, France, Netherlands, Beijing, Hong Kong

☆ Opinion: It’s not just about its colonial past. Here’s what India’s possible name change is all about
▼ + stars: | 2023-09-20 | by ( Opinion Akanksha Singh | ) edition.cnn.com time to read: +8 min

The idea, we Indians were told each time, was to allow the nation to make a clean break once and for all with its colonial past. The question on the minds of many people who follow events in India, is why any name change would be needed. It’s an opportunity to double down on India’s Hindu identity, even in the name by which it is called. The debate is a live one, however: Some disagree, saying that no amendment to the constitution would be needed to change India’s name. Do the country’s Indian Institutes of Technology become BITs?

Persons: Akanksha Singh, Singh, Droupadi Murmu, Bharat, Narendra Modi’s, Bharat ”, Modi, It’s, Akbar, Deen Dayal, Modi’s, Rahul Gandhi, Reserve Bank of India –, I’ve, ” Encouragingly Organizations: BBC, Independent, South China Morning Post, CNN, Mumbai CNN, Modi’s Bharatiya Janata Party, BJP, Bharat, Reserve Bank of India, Institutes of Technology, India, United Nations Locations: Mumbai, South China, India, Calcutta, Kolkata, Bombay, Madras, Chennai, Allahabad, Manipur

[1/2] White House National Security Advisor Jake Sullivan speaks during a press briefing at the White House in Washington, D.C., U.S., September 15, 2032. REUTERS/Sarah Silbiger/File Photo Acquire Licensing RightsWASHINGTON/BEIJING, Sept 17 (Reuters) - White House national security adviser Jake Sullivan met with Chinese Foreign Minister Wang Yi in Malta this weekend, Beijing and Washington said on Sunday, as the world's two largest economies seek to stabilize troubled relations. Both sides held "candid, substantive and constructive" talks during multiple meetings held Sept. 16-17, according to separate statements from the White House and the Chinese foreign ministry published Sunday. China's foreign ministry said both sides agreed to maintain high-level exchanges and hold bilateral consultations on Asia-Pacific affairs, maritime affairs and foreign policy. Biden and Xi last met in 2022 on the sidelines of a G20 summit on Indonesia's resort island of Bali.

Persons: Jake Sullivan, Sarah Silbiger, Wang Yi, Wang, Joe Biden, Xi Jinping, Sullivan, Washington, Biden, Xi, Gina Raimondo, Antony Blinken, Janet Yellen, Steve Holland, Andrea Shalal, Laurie Chen, Jason Lange, Scott Malone, Will Dunham, Susan Fenton Organizations: White, National, Washington , D.C, REUTERS, WASHINGTON, White House, Foreign, Economic Cooperation, . Commerce, U.S, Thomson Locations: Washington ,, BEIJING, Malta, Beijing, Washington, Vienna, Asia, Pacific, Taiwan, United States, U.S, India, San Francisco, China, Bali

But part of Xi's drive to improve his fighting force has been to stamp out corruption that has long plagued China's military and other state institutions. A leader China's space and cyber warfare development and then head of military procurement, Li, 65, was elevated to defence minister in March. He also has a more public role than others on the Central Military Commission, China's top defence body, commanded by Xi. Li's term at the Central Military Commission highlighted his ties to Xi, who has strengthened his grip across the military. A bigger question is what priority Beijing will continue to place on China's military diplomacy amid ongoing regional tensions.

Persons: Li Shangfu, Li, Xi, Nancy Pelosi, Lloyd Austin, James Char, Russian Su, Zhang Youxia, Zhang, Laurie Chen, Greg Torode, John Geddie, William Mallard Organizations: Reuters, Central Military Commission, West, People's Liberation Army, PLA, Rajaratnam, of International Studies, Strategic Support Force, Equipment Development Department of, Communist Party Congress, Thomson Locations: BEIJING, United States, Taiwan, Beijing, Russia, Washington, U.S, Singapore, China, Belarus, Ukraine, Russian, Hong Kong

[1/6] Home buyers stand inside an unfinished residential building of the Gaotie Wellness City complex in Tongchuan, Shaanxi province, China September 12, 2023. "I almost never drink water, wash my face or brush my teeth," said Shi, 39, who moved into the Gaotie Wellness City complex in May. I have no money now, I've lost my family property and all that's left is this unfinished building." Tongchuan city government and China's housing ministry did not immediately respond to a request for comment. To enter the complex, residents pick their way through an overgrown field, past abandoned construction machinery to a hole in the wall.

Persons: Tingshu Wang, Shi Tieniu, Shi, I've, I'm, Gao, Qi Xiaoxia, we've, Laurie Chen, Xiaoyu Yin, Lincoln Organizations: Gaotie Wellness, REUTERS, UBS, Tongchuan, Reuters, Buyers, Country, Thomson Locations: Tongchuan, Shaanxi, China, China's Shaanxi

☆ Former Alibaba CEO Daniel Zhang quits cloud in surprise move amid landmark restructuring
▼ + stars: | 2023-09-11 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Daniel Zhang, the outgoing chairman and CEO of Alibaba, has stepped down from his position running the company’s cloud division in a surprise move announced just months after he assumed the pivotal role. Daniel Zhang, the then CEO of Alibaba, speaks at a conference in Shanghai in November 2022. Han Haidan/China News Service/Getty ImagesEddie Yongming Wu will succeed Zhang as acting chairman and CEO of its cloud unit, Alibaba said Monday. Significant restructuringIn March, Alibaba announced it would split into six separate units, including cloud, e-commerce, logistics, media and entertainment. Analysts said Zhang’s departure from the cloud business came as a surprise, but should not affect a potential IPO of the unit.

Persons: Hong Kong CNN — Daniel Zhang, Zhang, “, “ Mr Zhang, Daniel Zhang, Han Haidan, Eddie Yongming Wu, Alibaba, Joseph C Tsai, Wu, Joe Tsai, Steven Ferdman, Tsai, —, ”, ” Tsai, Jacob Cooke Organizations: Hong Kong CNN, ” Citi, Alibaba, China News Service, Cloud Intelligence Group, Paley International, Paley Museum, CNN, Brooklyn Nets, New York Liberty, South China Morning, Alibaba Group, Analysts Locations: China, Hong Kong, Shanghai, New York, Alibaba

☆ Storms Deluge Hong Kong and Other Southern Chinese Cities
▼ + stars: | 2023-09-08 | by ( Chris Buckley | More About Chris Buckley | ) www.nytimes.com time to read: 1 min

Torrential rains have pounded southern China, flooding low-lying homes and roads, choking expressways, and prompting officials to suspend classes while the record-breaking storms lingered over the region. By Friday morning, Shenzhen, a southern Chinese commercial city next to Hong Kong, had endured nearly eight inches of rain overnight, in the most intense downpour since records began in 1952, according to the city’s official news service. Hong Kong was hit by about six inches of rainfall in several hours. The Hong Kong Observatory headquarters recorded over six inches in just one hour, the most in that spot since its records began in 1884, according to the South China Morning Post.

Persons: Hong Kong Organizations: Hong Kong Observatory, China Morning Locations: China, Shenzhen, Hong Kong, Hong

Jens Eskelund, President of the European Union Chamber of Commerce in China, attends an interview with Reuters in Beijing, China August 21, 2023. REUTERS/Florence Lo/File Photo Acquire Licensing RightsBEIJING, Aug 30 (Reuters) - The European Union Chamber of Commerce in China said on Wednesday that it would not use the term "uninvestable" to describe China, in response to a comment from the United States. U.S. Commerce Secretary Gina Raimondo said late Tuesday American firms had increasingly used the term to describe China, prompting Beijing to defend its business practices and approach to foreign investment. "‘Uninvestable’ is not a term we would use to describe China," Jens Eskelund, president of the EU chamber, said in an emailed response to questions from Reuters on Raimondo's remarks. Reporting by Laurie Chen; Writing by John Geddie; Editing by Muralikumar Anantharaman, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Jens Eskelund, Florence, Gina Raimondo, Raimondo, Eskelund, Laurie Chen, John Geddie, Muralikumar Anantharaman, Robert Birsel Organizations: European Union Chamber of Commerce, Reuters, REUTERS, Rights, U.S . Commerce, EU, Thomson Locations: China, Beijing, Rights BEIJING, United States, Europe

[1/2] British Foreign Secretary James Cleverly and Chinese Vice President Han Zheng attend a meeting at the Great Hall of the People in Beijing, China August 30, 2023. "We are clear-eyed about the areas where we have fundamental disagreements with China and we raise those issues when we meet," he told broadcasters. China Vice President Han Zheng told Cleverly at their meeting that he hoped the two countries could make new advances in their relations. Cleverly's visit to China comes as other countries in the West also try to improve their relations with the country. U.S. Commerce Secretary Gina Raimondo is on a four-day visit in China but warned that U.S. companies have complained to her that China has become "uninvestible".

Persons: James, Han Zheng, Florence Lo, Wang Yi, Liz Truss, Conservative Alicia Kearns, Gina Raimondo, Han, Sarah Young, Laurie Chen, Kate Holton, Elizabeth Piper, Conor Humphries Organizations: of, People, REUTERS, Rights, Conservative Party, China, British, Conservative, . Commerce, Thomson Locations: Beijing, China, Rights BEIJING, London, British, CHINA, Taiwan, Taipei, West

☆ Soaring youth joblessness is driving record-setting enrollment at China's military academies
▼ + stars: | 2023-08-29 | by ( Jack Lau | South China Morning Post | ) www.businessinsider.com time to read: +5 min

Total intake at China's military academies is the highest since 2017 and 2,000 more than last year. The total intake — spread across China's 27 military academies that accept high-school graduates — was 2,000 more than last year, the People's Liberation Army (PLA)'s official newspaper reported on Tuesday. Almost all places for this cohort had been filled, the PLA Daily report said. STR/AFP via Getty ImagesThe Central Military Commission — China's top military command, chaired by President Xi Jinping — announced the new standards in March. AdvertisementAdvertisementHowever, China's military academies offer far more places for men than for women.

Persons: —, Chen Bin, Xi Jinping —, Air Defence —, Xi, Liu Yang, Zhu Yuemeng, Dong Jun Organizations: Service, People's Liberation Army, PLA, Getty, PLA Daily, Military Commission, PLA Army Academy of Artillery, Air Defence Locations: Wall, Silicon, Beijing, Huainan, Hefei, Shandong, China, Liaoning

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