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☆ China's first deficit in foreign investment signals West's 'de-risking' pressure
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

A view of the city skyline, ahead of the annual National People's Congress (NPC), in Shanghai, China February 24, 2022. Onshore yuan trading against the dollar also hit record-low volume in October, highlighting authorities' stepped-up efforts to curb yuan selling. Direct investment liabilities - a measure of FDI - were a deficit of $11.8 billion during the July-September period, according to preliminary data of China's balance of payments released late on Friday. That's the first quarterly shortfall since China's foreign exchange regulator began compiling the data in 1998, which could be linked to the impact of "de-risking" by Western countries from China amid growing geopolitical tensions. In September, foreign exchange outflows from China rose sharply to $75 billion, the biggest monthly figure since 2016, Goldman Sachs data showed.

Persons: Aly, That's, Tommy Xie, Xie, Goldman Sachs, Shri Navaratnam Organizations: National People's Congress, REUTERS, Rights, Greater, Greater China Research, OCBC, People's Bank of, Reuters, Shanghai, Thomson Locations: Shanghai, China, Western, Greater China, People's Bank of China

☆ Ant Group wins approval to release AI products to Chinese public
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: 1 min

People stand at the booth of Ant Group at the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 2, 2023. REUTERS/Florence Lo/File Photo Acquire Licensing RightsSHANGHAI, Nov 6 (Reuters) - Ant Group has received Chinese government approval to release products powered by its "Bailing" artificial intelligence (AI) large language model to the public, a spokesperson for the Chinese firm said on Monday. Unlike other countries, China requires companies to submit security assessments and receive clearance before releasing AI products to the public. The financial affiliate of e-commerce giant Alibaba Group (9988.HK) in September unveiled a finance-specific AI model and started testing consumer and professional apps for the products. Reporting by Brenda Goh; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence, Brenda Goh, Christian Schmollinger Organizations: Ant Group, Fair for Trade, Services, REUTERS, Rights, Alibaba, HK, Thomson Locations: Beijing, China

BEIJING, Nov 6 (Reuters) - Unseasonably cold weather and blizzards hit northeast China on Monday, forcing hundreds of flights to be rescheduled and closing schools as several cities issued heightened weather alerts and warned people to stay indoors. China's weather authority warned of a drastic drop in temperature in coming days, along with blizzards, anticipated to substantially affect several cities, state media reported. Provinces and cities upgraded weather response protocols as heavy snowfall is expected in parts of Inner Mongolia, and Hebei, Jilin and Liaoning provinces, China Daily reported. Chinese weather forecasters kept orange alerts for blizzards in several areas, while China's National Meteorological Center issued an orange alert for blizzards and a blue alert for cold waves and strong wind, Global Times reported. China has a four-tier colour-coded weather alert system, with red the highest, followed by orange, yellow and blue.

Persons: Bernard Orr, Ella Cao, Raju Gopalakrishnan Organizations: Harbin Taiping International Airport, China Daily, Central Meteorological Observatory, Meteorological Center, Global Times, Central Meteorological Administration, Thomson Locations: BEIJING, China, Heilongjiang, Harbin, Jilin, Liaoning, Mongolia, Weibo, Provinces, Inner Mongolia, Hebei, Beijing, Tianjin, Shanghai

☆ Hong Kong's IPO market is still in a slump despite an expected rebound
▼ + stars: | 2023-11-06 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Hong Kong Street Scene, Mongkok District with busses Nikada | E+ | Getty ImagesHong Kong's initial public listing market remains in a slump, even as analysts predicted a market rebound in the second half of the year. "The Hong Kong market has not recovered as much as we would like," Irene Chu, partner at KPMG China, told CNBC. In the first three quarters of the year, the Hong Kong IPO market concluded 44 listings, and raised 24.6 billion Hong Kong dollars ($3.14 billion), according to KPMG. Hong Kong's stock market was among the worst performing last year, shedding 15% in 2022 for its third-straight year of declines. "The Hong Kong stock market remained weak in Q3 2023, as did stock valuations, because of macroeconomic developments, in particular around U.S. interest rate hikes.

Persons: Irene Chu, Hong, Ringo Choi, EY, Zhejiang Leapmotor, Arun George, It's, Chu Organizations: Hong, KPMG China, CNBC, Hong Kong, KPMG, Hang Seng, J, T Express, Reuters, Deloitte, Hong Kong's, ZJLD, Onewo, Global Equity Research, International Monetary Fund Locations: Hong, Mongkok District, Hong Kong, Ringo Choi Asia, Pacific, Asia, Indonesian, Zhejiang, China, Shanghai, Shenzhen, KPMG China, —

An electronic board shows stock indexes at the Lujiazui financial district in Shanghai, China, March 21, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 7 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. This is their best run in a year, powered by easing financial conditions in the form of lower U.S. bond yields and a weaker dollar, and renewed faith in the U.S. economic 'soft landing' scenario. Having under-performed global and developed market benchmarks last week, Asian stocks could be set to outperform this week. Skeptical foreign investors will need more than one month of slowing imports and exports decline though.

Persons: Aly, Jamie McGeever, Goldman Sachs, Deepa Babington Organizations: REUTERS, Bank of Korea, Thomson, Reuters Locations: Shanghai, China, U.S, India, Asia, Taiwan, Philippines, Indonesia, Japan, Australia

☆ 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

☆ Fitness Club Collapse Kills 3 in China's Heilongjiang Province
▼ + stars: | 2023-11-06 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

BEIJING (Reuters) - Three people were killed and one injured after a structural collapse at a fitness club in northeast China's Heilongjiang province, county government officials said on Tuesday. Officials said seven people were in the Yuecheng fitness gymnasium in Huanan county, in the eastern part of the province, when it collapsed on Monday. Initial reports said children were at the venue when it collapsed, and rescue operations have ended. State media said the collapse in Jiamusi city occurred at 7:20 p.m. (1120 GMT). Initial reports said three people were trapped inside.

Persons: Bernard Orr, Gerry Doyle Organizations: New Sunshine Fitness Locations: BEIJING, China's Heilongjiang, Huanan county, Jiamusi, Heilongjiang, Shanghai

[1/2] An Ericsson sign is seen at the third China International Import Expo (CIIE) in Shanghai, China November 5, 2020. REUTERS/Aly Song Acquire Licensing RightsBRUSSELS, Nov 6 (Reuters) - Electronics makers Siemens (SIEGn.DE), Ericsson (ERICb.ST) and Schneider Electric (SCHN.PA), along with industry group DigitalEurope warned on Monday that onerous proposed EU rules targeting cybersecurity risks of smart devices could disrupt supply chains on a scale similar to during the pandemic. They said disruptions could hit millions of products, ranging from washing machines to toys, cybersecurity products, as well as vital components for heat pumps, cooling machines and high-tech manufacturing. "We risk creating a COVID-style blockage in European supply chains, disrupting the single market and harming our competitiveness," the companies said. They also want more flexibility to self-assess cybersecurity risks.

Persons: Aly, Thierry Breton, Vera Jourova, Robert Bosch, Foo Yun Chee, Rod Nickel Organizations: Ericsson, China, REUTERS, Rights, Electronics, Siemens, Schneider, European, European Union, Nokia, Robert, Robert Bosch GmbH, EU, Thomson Locations: Shanghai, China, Rights BRUSSELS, EU, Slovakian

☆ China suffers its first foreign investment deficit as US tensions and anti-spying laws spark a western exodus
▼ + stars: | 2023-11-06 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

China just posted a quarterly foreign investment deficit for the first time. Officials have released foreign direct investment figures each quarter for the past 25 years – and it's the first time the gauge has turned negative, Reuters reported. The deficit suggests that western countries and companies are shunning China with Sino-US tensions steadily rising and new anti-spying laws spooking international investors. Analysts flagged that clampdown as one factor driving the decline in foreign direct investment. The foreign direct investment deficit is far from the only economic headache that Beijing faces.

Persons: China's, —, Joe Biden, Duncan Wrigley, Mark Mobius, he'd Organizations: Service, State Administration of Foreign, Reuters, Analysts, Macroeconomics, Bloomberg, " International, Micron, Bain, Co Locations: China, Beijing, Shanghai

☆ Exclusive: China's clashing priorities behind rare money market distress
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +7 min

"Banks were grudging in lending, leaving non-banks asking each other for money in afternoon trade," he said. The reasons for the spike in interest rates and the ensuing market chaos are detailed here for the first time. They affect foreign exchange movements since the markets are the major avenue for the supply of money. The money market operator CFETS told traders to keep a 5% ceiling on repo transactions and said anyone involved in high-rate deals closed on Oct. 31 would need to explain themselves to regulators, according to sources who received the notice. "If the pattern of money supply and liquidity provision remains unchanged, the whole system remains fragile.

Persons: Xia Chun, Banks, outflows, CFETS, Tom Westbrook, Vidya Ranganathan, Raju Gopalakrishnan Organizations: People's Bank of China, China Foreign Exchange Trade, Yintech Investment Holdings, Reuters, China Everbright Bank, Co, China Central Depository, Shanghai Clearing House, Shanghai, Thomson Locations: SHANGHAI, SINGAPORE, Beijing, Shanghai, China

☆ Rising air pollution in China suggests its economy is growing faster and oil prices will climb
▼ + stars: | 2023-11-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Rising air pollution in China suggests its economy in on track to see a jump in growth, according to DataTrek Research. Oil prices should rise if China's economy is accelerating, as its air quality suggests. This proves our basis point that air pollution readings can give investors an early call on a country's economy," DataTrek Research co-founder Nicholas Colas said. In fact, the air quality in Beijing has seen a "very visible" increase in air pollution in the last two weeks, as has Guangzhou, Chongqing, Shenzhen, and Shanghai. AdvertisementAdvertisementTo be sure, it will take weeks for the recent rise in China's air pollution to register in the official economic data.

Persons: DataTrek, —, Nicholas Colas, Colas, Brent Organizations: Research, Service, DataTrek Research Locations: China, Beijing, Guangzhou, Chongqing, Shenzhen, Shanghai

☆ China FDI: Foreign investors are really frustrated with country’s economic challenges
▼ + stars: | 2023-11-06 | by ( Manav Tanneeru | Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —The world’s second largest economy is struggling to attract foreign companies and investments, despite Beijing’s efforts to address its myriad economic challenges, according to new data from China. A gauge of foreign direct investment (FDI) into China has slipped into the red for the first time since 1998, underscoring the country’s failure to stem capital outflows. It suggests foreign companies may be taking their money out of the country, instead of re-investing in their operations. Direct investment liabilities include profits belonging to foreign companies that have not yet been repatriated or distributed to shareholders, as well as foreign investment in financial institutions, according to the government. Late last month, China’s legislature approved one trillion yuan ($137 billion) in sovereign bonds to support the economy.

Persons: Refinitiv, Ant, “, Xu jingbai, ICHPL, Xi Jinping, ”, ” Carlo D’Andrea, Shanghai —, JP Morgan, Tesla Organizations: Hong Kong CNN, State Administration of Foreign Exchange, Commerce Ministry, Vanguard, BlackRock, CNN, Bloomberg, China, European Union Chamber of Commerce, People’s Bank of, HSBC, American Chamber of Commerce Locations: China, Hong Kong, Shanghai, Beijing, outflows, People’s Bank of China

☆ China pledges to expand market access at annual trade fair amid foreign criticism
▼ + stars: | 2023-11-05 | by ( Brenda Goh | ) www.reuters.com time to read: +3 min

SHANGHAI, China (Reuters) -China will further expand market access and increase imports, its premier told a trade fair in Shanghai on Sunday, amid criticism from European firms who said they wanted to see more tangible improvement in the country’s business environment. China will promote coordinated development of trade in goods and services, protect an international business environment, and relax market access including lifting restrictions on foreign investment in manufacturing, he said. The import expo was launched by President Xi Jinping in 2018 to promote China’s free trade credentials and counter criticism of its trade surplus with many countries. China’s imports have slumped this year amid a slowdown in the world’s second largest economy, although data released last month indicated that the downtrend could be starting to ease. China will “actively promote” its application to join the Comprehensive Progressive Trans-Pacific Partnership (CPTPP), Li also said in his speech on Sunday.

Persons: Li Qiang, Tingshu Wang, ” Li, Xi Jinping, Li, Anthony Albanese, “ Organizations: Hangzhou Olympic Sports Centre, China, European Chamber of Commerce, Micron Technology, Nestle, Burberry, Australian, Pacific Locations: SHANGHAI, China, Shanghai, Hangzhou, Afghan, Australia, United States, Taiwan, Ukraine, Costa Rica, Uruguay, Ecuador, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, Britain

☆ One of Tesla's top Chinese competitors reportedly expected to lay off employees as it eyes the US market
▼ + stars: | 2023-11-05 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Reorganization at Nio comes as the company eyes the US market. AdvertisementAdvertisementBig changes are in store for Chinese electric car company Nio, one of Tesla's biggest rivals in the world's largest vehicle market. News of layoffs and reorganization at Nio come as the Shanghai-based company eyes US EV sales by 2025 . Chinese car companies have often eyed the US market, but none have yet made a big splash in the highly competitive market. Years of growth in the US EV market is showing signs of slowing, and US manufacturers are pulling back on big electric vehicle production promises.

Persons: —, Elon, Nio, Tesla, haven't, Martin French Organizations: TechCrunch, Service, US, EV, US EV, Shanghai, Ford, GM Locations: Shanghai, Nio

HONG KONG (AP) — Asian shares advanced Monday following Wall Street gains last week that were buoyed by hopes for early interest rate cuts. Wall Street steamrolled higher Friday as it closed out its best week in nearly a year. Stock have struggled under the weight of rapidly rising Treasury yields. In the bond market, Treasury yields tumbled just after the jobs report, releasing more of the pressure that had built up on Wall Street. Despite reporting stronger-than-expected profits, Apple, the most influential stock on Wall Street, fell 0.5%.

Persons: ’, Australia’s, Sensex, Stocks, Brent Organizations: Nikkei, Dow Jones Industrial, Nasdaq, Reserve, Expedia Group, Stock, Treasury, Apple, Analysts, New York Mercantile Exchange, U.S Locations: HONG KONG, Gaza City, South, Hong Kong, Shanghai

TAIPEI, Taiwan (AP) — Chinese Premier Li Qiang on Sunday pledged to continue deepening reforms, expand free trade zones and relax market access for foreign investment while seeking to generate excitement around a largely lackluster economy. China's economy expanded at a 4.9% annual pace between July-September, beating analysts’ forecasts of about 4.5%, official data show. The expo being held through Friday is an annual event launched by President Xi Jinping in 2018 with the theme of promoting China’s image as being in favor of free trade. This year’s expo brought Australian Prime Minister Anthony Albanese, currently paying an official visit to China which is largely focused on restoring trade links blocked for years due to economic and political tensions. Despite that, Li said China would continue to “actively pursue the accession to the CPTPP and the Digital Economy Partnership Agreement and negotiate for the conclusion of more high standard free trade agreements.”

Persons: Li Qiang, Li, Xi Jinping, ” Li, Anthony Albanese, Albanese, ” Albanese, Yang Hengjun, “ Organizations: 6th China, Sunday, Trans, Pacific Partnership, Digital Locations: TAIPEI, Taiwan, Shanghai, China, Beijing, Australia, Australian

☆ China basic pension fund posts 0.33% investment gain in 2022
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +1 min

A view of the city skyline, ahead of the annual National People's Congress (NPC), in Shanghai, China February 24, 2022. REUTERS/Aly Song/File Photo Acquire Licensing RightsSHANGHAI, Nov 4 (Reuters) - The basic pension fund managed by China's social security fund gained 5.1 billion yuan, or 0.33% in 2022, down from a 4.9% gain in 2021, the National Council for Social Security Fund said on Saturday. China's stock benchmark CSI 300 (.CSI300) lost 21.6% in 2022 and so far this year is down 7.4%. The basic pension fund manages a total 1.62 trillion yuan by the end of 2022, and has posed an annual average gain of 5.4% since the end of 2016, when the national social security fund started to manage the pension's investment. Separately, the national social security fund reported a 5.07%, or 138 billion yuan loss for the year of 2022, it said in a report in September.

Persons: Aly, Michael Perry Organizations: National People's Congress, REUTERS, Rights, National Council for Social Security Fund, CSI, Shanghai, Thomson Locations: Shanghai, China

☆ Australia PM says China visit 'very positive' for bilateral relations
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Nov 4 (Reuters) - Australia's Prime Minister Anthony Albanese said on Saturday his much-anticipated visit to China to meet with President Xi Jinping and Premier Li Qiang marks a "very positive step" in stabilising strained bilateral ties. Arriving on Saturday, Albanese will be the first Australian leader to visit China since 2016, part of an effort to patch up relations that had deteriorated over several years due to disputes over Chinese telecoms firm Huawei, espionage and COVID-19. "It is a result of the patient, calibrated and deliberate approach that we have to the relationship with China." Albanese's government has taken credit for stabilising ties with China since coming to office last year. China has lifted most trade blocks imposed in a 2020 diplomatic dispute that cost A$20 billion in commodity and food exports.

Persons: Anthony Albanese, Xi Jinping, Li Qiang, Albanese, Xi, Li, " Albanese, Yang Hengjun, Penny Wong, Sam McKeith Organizations: SYDNEY, Australia's, Huawei, Foreign, Thomson Locations: China, Darwin, Australia's Northern Territory, Shanghai, Beijing, South China, Tokyo, Sydney

☆ China industry minister: industrial economy stabilises, NEV shines in Jan-Sept period
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Nov 4 (Reuters) - China's industry minister said the country's industrial economy stablised and recovered in the first three quarters of 2023 and the new energy sector, such as electric cars, shined. "In the fourth quarter, we are confident the industrial economy will keep the recovery momentum," said Jin Zhuanglong, China's Minister of Industry and Information Technology, in an interview with China state television CCTV. China's industrial output in September grew 4.5% from a year earlier, matching the pace in August, as policy support measures stabilised some parts of the world's second-largest economy. Overseas markets remain an important growth area, although an EU probe into China-made EVs may put a damper on exports. Reporting by Jason Xue and Ryan Woo; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Jin Zhuanglong, Jin, Jason Xue, Ryan Woo, Michael Perry Organizations: China's, Industry, Information Technology, Overseas, EU, Thomson Locations: SHANGHAI, China

☆ Ex-VP of China's ICBC being probed by anti-graft body
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: 1 min

Senior Executive Vice President of the Industrial and Commercial Bank of China (ICBC) Zhang Hongli attends a meeting of Group of 20 leading economies' finance ministers and central bankers in Mexico City February 24, 2012. REUTERS/Tomas Bravo/ File Photo Acquire Licensing RightsSHANGHAI, Nov 4 (Reuters) - The former vice president of the Industrial and Commercial Bank of China (ICBC) (601398.SS), Zhang Hongli, is being probed by the anti-graft body, the Central Commission for Discipline Inspection said on Saturday. Reporting by Shanghai Newsroom; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Zhang Hongli, Tomas Bravo, William Mallard Organizations: Industrial, Commercial Bank of China, REUTERS, Rights, Central Commission, Shanghai, Thomson Locations: Mexico City

☆ Sinopec says signs new 27-year LNG supply deal with QatarEnergy
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +1 min

The logo of China Petroleum & Chemical Corporation, or Sinopec, is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. Under the agreement, the two firms will cooperate on the second phase of the North Field gas project, which will supply 3 million metric tons of LNG per year to Sinopec. The deal, signed at the China International Import Expo in Shanghai, is the third long-term supply deal between Sinopec and Qatar Energy, the world's top LNG supplier. The two parties signed a 10-year LNG purchase and sales agreement in 2021, followed by a 27-year deal last year. The North Field is part of the world's largest gas field which Qatar shares with Iran, which calls its share South Pars.

Persons: Chris Helgren, Jason Xue, Dominique Patton, Jason Neely Organizations: China Petroleum & Chemical Corporation, REUTERS, Rights, China Petroleum & Chemical Corp, BEIJING, Qatar Energy, China, Qatar, Pars, Thomson Locations: Vancouver , British Columbia, Canada, Shanghai, Sinopec, Iran

☆ Australia's Albanese, in China, Seeks Dialogue, Cooperation
▼ + stars: | 2023-11-04 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

By Brenda GohSHANGHAI, China (Reuters) - Australia's Prime Minister Anthony Albanese, starting the first visit to China by a leader of his country in seven years, said on Sunday it was "in all our interests" to have a bilateral relationship with dialogue and cooperation. Australia will continue to work constructively with China, he said in a short speech to the annual China International Import Expo in Shanghai, which was opened by Premier Li Qiang. Albanese is the first Australian leader to visit China since 2016, part of an effort to patch up relations that had deteriorated over several years due to disputes over Chinese telecoms firm Huawei, espionage and COVID-19. Before leaving Australia on Saturday, he said his much-anticipated visit to meet with President Xi Jinping and Li marked a "very positive step" in stabilising strained bilateral ties. (Reporting by Brenda Goh and Martin Quin Pollard; Editing by William Mallard)

Persons: Brenda Goh, Anthony Albanese, Li Qiang, Albanese, Xi Jinping, Li, Martin Quin Pollard, William Mallard Organizations: Australia's, China, Huawei, Australia Locations: Brenda Goh SHANGHAI, China, Australia, Shanghai

☆ Australia-China: After seven years of strain, leader Albanese heads to Beijing
▼ + stars: | 2023-11-04 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

Stakes are high for the four-day visit, which begins on Saturday and will see Albanese meet with Chinese leader Xi Jinping and Premier Li Qiang and make stops in Beijing and Shanghai. Albanese’s trip also carries symbolic overtones, marking 50 years since the first official visit by an Australian leader to Communist China after the two countries established ties. James Bugg/Bloomberg/Getty ImagesUS relations loomAlbanese is heading to Beijing less than two weeks after he met with US President Joe Biden in Washington. As he aims to repair ties with China, Albanese will need to walk a line between these interests and China’s suspicions about the aims of these blocs, analysts say. “Beijing came to learn that the weaponization of trade did not force a close US ally to back down,” said Collinson.

Persons: Hong Kong CNN —, Anthony Albanese, Albanese, Xi Jinping, Li Qiang, Scott Morrison’s, Jingdong Yuan, ”, Cheng Lei, Yang Hengjun, Yang, ” Albanese, Elena Collinson, teeters, ” Collinson, James Bugg, Joe Biden, “ Albanese, Yuan, Xi, Biden, Collinson, “ Organizations: Hong Kong CNN, China’s Foreign Ministry, University of Sydney, Reuters, Huawei, Albanese’s Labor, Canberra, Albanese’s, University of Technology Sydney’s, China Relations Institute, Trans, Pacific, Bloomberg, Getty, Albanese, China, China - Asia Security, Stockholm International Peace Research Institute, Economic Cooperation, Australia Locations: Hong Kong, China, Beijing, Shanghai, Australia, Washington, Seoul, Communist China, Asia, Pacific, Darwin, Pacific Islands, South, University of Technology Sydney’s Australia, Europe, Yarra, Victoria, South China, United Kingdom, Japan, India, Sydney, Stockholm, San Fransisco

☆ US consultancy Gallup withdrawing from China -FT
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: 1 min

Nov 4 (Reuters) - Consultancy firm Gallup is pulling out of China, the Financial Times newspaper reported on Saturday. The Washington-based firm has told its clients it is closing its China operations and advised customers that it would move some projects outside the country, while others would be cancelled, according to the newspaper. It started its China operations in 1993 and had offices in Beijing, Shanghai and Shenzhen, the report said citing public payroll records. Gallup is closing all three offices in mainland China and it is unclear whether it will retain some of its local employees, the report added. Reporting by Shubhendu Deshmukh in Bengaluru; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Shubhendu Deshmukh, Jason Neely Organizations: Consultancy, Gallup, Financial Times, Thomson Locations: China, Washington, Beijing, Shanghai, Shenzhen, Bengaluru

China's delegate to the meeting, Vice Minister of Science and Technology Wu Zhaohui, was present on Thursday, his ministry said on Friday. The Chinese technology ministry declined to say why China did not agree to the proposal, which was about AI model testing. British Prime Minister Rishi Sunak chaired Thursday's meeting that comprised "a small group of like-minded senior representatives from governments around the world", Britain said, including the U.S. vice president and the EC president. Some British lawmakers had criticised China's participation in the inaugural AI summit. Sunak told reporters: "Some said we shouldn't even invite China, others said we would never get an agreement with them.

Persons: Ursula von der Leyen, Kamala Harris, Rishi Sunak, Giorgia Meloni, Antonio Guterres, Yoshua Bengio, Mila, Microsoft Brad, Technology Wu Zhaohui, Wu, Oliver Dowden, Sunak, Paul Sandle, Brenda Goh, Alistair Smout, Cynthia Osterman Organizations: Italy's, UN, Quebec AI Institute, Microsoft, Safety, Science, Technology, Bloomberg, U.S, European Union, Thomson Locations: British, SHANGHAI, LONDON, China, Britain, Beijing, Bletchley Park, England, United States, Bletchley, London, Shanghai

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