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Chinese Premier Li Qiang attends a meeting with U.S. Special Presidential Envoy for Climate John Kerry (not pictured) at the Great Hall of the People in Beijing, China July 18, 2023. REUTERS/Florence Lo/Pool/File Photo Acquire Licensing RightsBEIJING, Aug 21 (Reuters) - Bilateral relations and economic and trade cooperation between China and the United States are facing difficulties, Chinese Premier Li Qiang told the chair of the U.S.-China Business Council heading a USCBC delegation on a visit to Beijing. "At present, China-U.S. relations and economic and trade cooperation are facing some difficulties, which require both sides to show sincerity, move towards each other and make joint efforts," Li told USCBC chair Marc Casper on Monday, according to the Chinese state news agency Xinhua. Li added that China is willing to work with the U.S. to jointly safeguard international trade rules and ensure the stability of global industrial chains. Reporting by Ella Cao, Liangping Gao in Beijing and Meg Shen in Hong Kong, editing by Ed Osmond and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.
Persons: Li Qiang, John Kerry, Florence Lo, Li's, Gina Raimondo's, Li, Marc Casper, Casper, Jin Zhuanglong, Ella Cao, Liangping Gao, Meg Shen, Ed Osmond, Mark Heinrich Our Organizations: U.S, of, People, REUTERS, Rights, U.S ., China Business Council, U.S . Commerce, Bloomberg, Xinhua, Chinese Industry, Ministry of Industry, Information Technology, Thomson Locations: Beijing, China, Rights BEIJING, United States, U.S, Hong Kong
A man wearing a mask walks past the headquarters of the People's Bank of China, the central bank, in Beijing, China, as the country is hit by an outbreak of the new coronavirus, February 3, 2020. REUTERS/Jason Lee/File Photo Acquire Licensing RightsBEIJING, Aug 17 (Reuters) - China's central bank said on Thursday it would keep liquidity reasonably ample and keep its policy "precise and forceful" to support the country's economic recovery, amid rising headwinds. The People's Bank of China (PBOC) will "better leverage the dual functions of aggregate and structural monetary policy tools and firmly support the recovery and development of the real economy," the bank said in its second-quarter monetary policy implementation report. Markets widely expect the bank to loosen monetary policy further. China will also prevent overshooting risks of the yuan exchange rate and fend off systemic financial risks, the central bank said.
Persons: Jason Lee, Liangping Gao, Ella Cao, Kevin Yao, Toby Chopra, Hugh Lawson Organizations: People's Bank of China, REUTERS, Rights, HK, Thomson Locations: Beijing, China, Rights BEIJING
A logo is seen at the World Trade Organization (WTO) headquarters before a news conference in Geneva, Switzerland, October 5, 2022. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsGENEVA, Aug 16 (Reuters) - A World Trade Organization (WTO) dispute settlement panel on Wednesday found that China had acted inconsistently with its WTO obligations by imposing additional duties on certain U.S. imports in response to U.S. tariffs on steel and aluminium. China's Commerce Ministry said it had noted the WTO panel decision and demanded that the United States immediately lift tariffs imposed on steel and aluminium imports. The U.S. imposed a 25% duty on steel imports and a 10% duty on aluminium imports in March 2018 based on the Donald Trump administration's "Section 232" national security investigation into steel and aluminium imports. In response to the U.S. duties, China announced that additional duties of between 15% and 25% would apply to certain imports originating in the United States, a measure challenged by Washington.
Persons: Denis Balibouse, Donald Trump, Joe Biden's, Gabrielle Tétrault, Farber, Susan Heavey, Ella Cao, Rachel More, Devika Syamnath, Sharon Singleton Organizations: World Trade Organization, REUTERS, Rights, Trade Organization, U.S . Trade, WTO, Ministry, U.S, Washington, United, Thomson Locations: Geneva, Switzerland, China, United States, Beijing, U.S, Washington
China's Geely unveils auto robotics brand JI YUE
  + stars: | 2023-08-14 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Maxim Shemetov/File PhotoBEIJING, Aug 14 (Reuters) - Chinese automaker Geely Holding Group (0175.HK) on Monday unveiled a premium intelligent technology brand JI YUE, which stems from Geely's cooperation with Baidu Inc (9888.HK) on "automotive robotics", and introduced its first model. JI YUE 01, the flagship model under the new brand will be produced by Geely and is expected to debut in the last quarter of this year, the company said. Baidu will provide its know-how in smart cockpits, autonomous driving and artificial intelligence technologies, which will be applied in JI YUE cars, Geely added. Also on Monday, China's industry ministry website showed three electric vehicles under the JI YUE brand were seeking regulatory approvals. Geely had co-funded an electric vehicle venture Jidu with Baidu.
Persons: Maxim, YUE, Geely, Zhang Yan, Ella Cao, Meg Shen, Tomasz Janowski Organizations: REUTERS, Geely Holding, HK, Baidu Inc, Baidu, JI, Thomson Locations: Moscow, Russia, BEIJING, China, Beijing, Hong Kong
China’s Home Buyers Are Waiting Out the Property Slump
  + stars: | 2023-08-12 | by ( Cao Li | ) www.wsj.com   time to read: 1 min
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Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/chinese-property-giant-country-garden-sends-another-distress-signal-22b3bd64
Persons: Dow Jones
People wearing face masks are seen on an overpass in front of a residential building in Beijing, China August 11, 2020. Investors may get their first read on the market reaction when official property investment and price data for August is released next month. It was not the curbs that were holding the market down, they said, but Chinese doubts about better days ahead. While not bullish on real estate, she thinks of big-city properties as a "slightly bruised apple amidst a bunch of rotten ones." "I'm concerned about the change," said a 26-year-old pharmaceuticals worker surnamed Song, who had considered buying a property in Beijing before realising he needed his parents' support.
Persons: Tingshu Wang, Kate Ren, hasn't, Ren, Ting Lu, Sophia Chen, Chen, Zhuran Zhang, Zhang, Song, Liangping Gao, Ella Cao, Shuyan Wang, Marius Zaharia, Sam Holmes Organizations: REUTERS, Nomura, Investors, July's Communist Party, Reuters, Thomson Locations: Beijing, China, BEIJING, HONG KONG, Shanghai, China's, Zhengzhou, Hangzhou
Feeling the pinch of rising housing costs and a slowing economy, the jobless graduates are forfeiting cities that have traditionally provided a stepping stone to middle-class wealth. The numbers varied by region, with 59% of graduates in the well-developed east heading home. To keep costs down as they stay longer in hope of finding a job, some young mega-city drifters even share their beds with strangers. One such post was looking for a roommate to share one bed in a room "with a huge balcony" in Beijing. ($1 = 7.2004 Chinese yuan renminbi)Reporting by Ella Cao and Ryan Woo; Additional reporting by Beijing newsroom; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.
Persons: Stringer CHINA, Joyce Zhang, I've, Zhang, China's, Ella Cao, Ryan Woo, Conor Humphries Organizations: Central China Normal University, REUTERS, China News Service, China's, Xinhua, Reuters, Beijing, Thomson Locations: Wuhan, Hubei province, China, BEIJING, Beijing, Guangzhou, Shenzhen, Inner Mongolia, Hangzhou, Zhejiang
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/country-garden-chinas-largest-surviving-developer-sinks-into-debt-crisis-2a525173
Persons: Dow Jones
China repeats call for Philippines to remove grounded warship
  + stars: | 2023-08-08 | by ( ) www.reuters.com   time to read: +3 min
The dispute over the Second Thomas Shoal in South China Sea came after Manila accused China's coast guard of "excessive and offensive actions" against Philippines vessels. "China once again urges the Philippine side to immediately remove the warship from Second Thomas Shoal and restore it to its unoccupied state," China's foreign ministry said in a statement. Tensions have soared between the two countries over the South China Sea under Philippine President Ferdinand Marcos Jr, with Manila pivoting back to the United States, which supports Manila in its maritime disputes with China. Echoing the foreign ministry, the Chinese ambassador to the Philippines said on Tuesday China had no choice but to respond. China claims sovereignty over almost the entire South China Sea, which overlaps with the waters of Malaysia, Vietnam, Brunei, Taiwan and the Philippines.
Persons: Thomas Shoal, Thomas, Jonathan Malaya, Ferdinand Marcos Jr, Huang Xilian, Ella Cao, Liz Lee, Karen Lema, Jacqueline Wong, Gerry Doyle Organizations: China Coast Guard, Philippine Coast Guard, Philippine, REUTERS, National Security Council, South China, China, Thomson Locations: South, BEIJING, MANILA, Philippines, Manila, Beijing, South China, China's, China, Philippine, Ayungin, United States, Malaysia, Vietnam, Brunei, Taiwan
Tensions have soared between the two neighbours over the South China Sea under Philippine President Ferdinand Marcos Jr, with Manila pivoting back to the United States, which supports the Southeast Asian nation in its maritime disputes with China. China's embassy in Manila criticised Washington for "gathering" its allies to continue "hyping up" the South China Sea issue and the boat incident. "South China Sea is not a 'safari park' for countries outside the region to make mischief and sow discord," the embassy said in a statement on Tuesday. The Second Thomas Shoal, which lies within the Philippines exclusive economic zone, is home to a handful of troops living aboard the former warship Sierra Madre. China claims sovereignty over almost the entire South China Sea, which overlaps with the exclusive economic zones of Malaysia, Vietnam, Brunei, Taiwan and the Philippines.
Persons: Ferdinand Marcos Jr, Thomas, Thomas Shoal, Erik De Castro, Rommel Ong, Ong, Collin Koh, There's, Koh, Jonathan Malaya, Lloyd Austin, Gilbert Teodoro, Bernadette Baum, Alex Richardson, Sharon Singleton Organizations: South China, coastguard, BRP, BRP Sierra Madre, Philippine Navy, REUTERS, Singapore's, Rajaratnam, of International Studies, Philippines National Security Council, China, U.S . Defense, Philippines Defense, Pentagon, Thomson Locations: BEIJING, MANILA, China, Philippines, Manila, South, Philippine, United States, China's, Washington, Sierra Madre, BRP Sierra, Spratly, Beijing, Malaysia, Vietnam, Brunei, Taiwan, U.S, Japan, France
In the waterlogged provincial capital Harbin, two vehicles plunged into a sinkhole that appeared on an expressway near a swollen river, local media reported. Paddy fields have also been inundated, and villagers in low-lying areas told to evacuate, local media reported. The storms and floods also triggered power cuts in nearby Shangzhi city, where supermarkets were running low on provisions, according to media reports. "I only managed to get a few bottles of mineral water and two boxes of instant noodles," a Shangzhi resident told local media after rushing to the supermarket after the storm alerts. "Some production and power equipments were damaged, and production had been suspended," the company said in an exchange filing on Friday.
Persons: Typhoon Doksuri, Tingshu Wang, Doksuri, Jinrui, Liz Lee, Ella Cao, Samuel Shen, Ryan Woo, Gerry Doyle, Miral Organizations: REUTERS, Aerospace, Holdings Group, Mineral Development, Thomson Locations: Mentougou district, Beijing, China, Tingshu Wang BEIJING, Northeastern Heilongjiang, Heilongjiang, Daqing, Harbin, Shangzhi, Jilin, Shulan, Zhuozhou, Hebei province, Hebei, Qinghai, Chongqing, Shanghai
REUTERS/Jason Lee/File PhotoBEIJING, Aug 3 (Reuters) - China's central bank governor pledged on Thursday to guide more financial resources towards the private economy, suggesting refreshed urgency from Beijing to bolster the confidence among private firms as economic momentum weakens. During a meeting on Thursday with at least eight private firms from sectors including property, aluminium and agribusiness, the People's Bank of China (PBOC) Governor Pan Gongsheng said the bank would roll out guidelines to support private firms. Responding to some firms' requests of broadening bond financing channels, Pan said the central bank would expand debt financing tools for them. "Financial institutions should actively create a positive atmosphere to support the development and growth of private firms ... and increase willingness to lend." To revive confidence among private businesses, head of the economic planner also held several meetings with private firms last month to learn about their operation difficulties.
Persons: Pan, Jason Lee, Pan Gongsheng, Ellen Zhang, Ryan Woo, Ella Cao, Jon Boyle, Alison Williams Organizations: People's Bank of China, Congress, REUTERS, HK, China Hongqiao, Chint, Thomson Locations: Beijing China, BEIJING, Beijing, China, Hope
People sort items outside a supermarket, after the rains and floods brought by remnants of Typhoon Doksuri, in Beijing, China August 2, 2023. Zhuozhou borders Beijing, which was inundated with the most rainfall in 140 years between Saturday and early Wednesday, official data showed. Residents forced to leave their homes were temporarily resettled in high-rise buildings, but lacked access to electricity and water, local media reported. Many Zhuozhou residents took to social media to complain about how long rescue and recovery efforts were taking. Nearly 100 employees were trapped without food and water, and a toxic gas leaking from a neighbouring tape factory complicated rescue efforts, local media reported.
Persons: Doksuri, Tingshu Wang, Liz Lee, Ryan Woo, Ella Cao, Miral Organizations: REUTERS, Weibo, Global Times, Thomson Locations: Beijing, China, Tingshu Wang BEIJING, Zhuozhou, Paris, Hebei province, Hebei, Weibo, Yongding River, Shanghai
Hung Cao, a former GOP House nominee, is now running for Democratic Sen. Tim Kaine's seat. He warned in a recent interview that "witchcraft" is happening in California. "There's a place in Monterey, California called 'Lover's Point,'" Cao said. According to the Monterey County Historical Society, "Lover's Point" was indeed once known as "Lovers of Jesus Point," owing to its settlement by the Methodist Episcopalian Church in the 1870s. Earlier in the interview, Cao — a Vietnamese refugee — also remarked that he was African-American by virtue of having spent time in Niger as a child.
Persons: Hung Cao, Democratic Sen, Tim Kaine's, Jennifer Wexton, Cao, Tim Kaine, who's, Sean Feucht —, it's, Cao —, , Cao interjected, Scott Parkinson, Ron DeSantis Organizations: GOP House, Democratic, Service, Republican, US, Disney, Wing, Historical Society, Methodist Episcopalian Church, Government Affairs, Club for Growth Locations: California, Cao, Africa, Wall, Silicon, Virginia, United States, Monterey , California, Monterey, African, Niger, Florida
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/chinese-consumers-pinch-pennies-on-staples-as-pandemic-habits-linger-89db5b58
Persons: Dow Jones
[1/2] Hun Manet, son of Cambodia's Prime Minister Hun Sen, waves to people during the final Cambodian People's Party (CPP) election campaign for the upcoming general election in Phnom Penh, Cambodia, July 21, 2023. REUTERS/Cindy LiuPHNOM PENH, July 21 (Reuters) - Cambodia's long-serving leader Hun Sen has told a Chinese television station that his eldest son, Hun Manet, can become prime minister soon after Sunday's election. "In three or four weeks, Hun Manet can become the prime minister. It depends on whether Hun Manet will be able to do it or not," Hun Sen said in an interview with China's Phoenix TV aired on Thursday. His son, Hun Manet, is a candidate for the election, making his debut.
Persons: Hun Manet, Cambodia's, Hun Sen, Cindy Liu PHNOM, Sok Eysan, Ella Cao, Martin Petty, Andrew Heavens Organizations: Cambodian People's Party, REUTERS, China's Phoenix TV, University of Bristol, Thomson Locations: Phnom Penh, Cambodia, Cindy Liu PHNOM PENH, Khmer Rouge, United States
Summary Party, cabinet issue policies to support private sectorTo protect private property rights, ensure fair competitionTo create "traffic light" regime for private investorsTo support eligible firms to list and refinanceBEIJING, July 19 (Reuters) - China on Wednesday pledged to make the private economy "bigger, better and stronger" with a series of policy measures designed to help private business and bolster the flagging post-pandemic recovery. The measures include protection for the property rights of private firms and entrepreneurs and steps to ensure fair market competition by breaking down market-entry barriers. They will also create a "traffic light" system to make clear the areas in which private investors are able to invest, as well as encouraging some private companies to issue technology innovation bonds. Private companies will be encouraged to increase investment in areas such as power generation and storage, and the industrial internet. China is also encouraging private enterprises to increase investment in research and development and participate in investment and construction of new types of infrastructure.
Persons: Ella Cao, Kevin Yao, Bernard Orr, Andrew Heavens, Jane Merriman, Sharon Singleton Organizations: Xinhua, Communist Party, Authorities, Thomson Locations: BEIJING, China, Xinhua
Property sales by floor area declined 28.1% year-on-year, extending a 19.7% fall in May, according to Reuters calculations based on data from the National Bureau of Statistics (NBS). For June, property investment totaled to 1.2849 trillion yuan, falling 20.6% from a year earlier after a 21.5% drop in May, according to Reuters calculations. For January-June, property sales by floor area were down 5.3% year-on-year compared with a 0.9% fall in the first five months. Property investment fell 7.9% in the first six months, after slumping 7.2% in January-May from the same period a year earlier. New construction starts measured by floor area fell 24.3% year-on-year, after a 22.6% drop in the first five months.
Persons: Liangping Gao, Ella Cao, Ryan Woo, Kim Coghill, Simon Cameron, Moore Organizations: National Bureau of Statistics, Authorities, Thomson Locations: BEIJING
China's June industrial output rises 4.4%, retail sales up 3.1%
  + stars: | 2023-07-17 | by ( ) www.reuters.com   time to read: +1 min
BEIJING, July 17 (Reuters) - China's industrial output grew 4.4% in June from a year earlier, unexpectedly accelerating from 3.5% seen in May, but demand remains lukewarm amid a bumpy post-COVID economic recovery. The data released by the National Bureau of Statistics (NBS) on Monday came above expectations for a 2.7% increase in a Reuters poll of analysts. Retail sales grew 3.1% in June, slowing from a 12.7% jump in May. Fixed asset investment expanded 3.8% in the first six months of 2023 from the same period a year earlier, versus expectations for a 3.5% rise. Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.
Persons: Joe Cash, Ella Cao, Ellen Zhang, Sam Holmes Organizations: National Bureau of Statistics, Retail, Analysts, Thomson Locations: BEIJING
And their strength isn’t limited to the psychedelic: Functional mushrooms — species that have been shown to have cognitive, immune system and longevity benefits — have been used for centuries in Chinese medicine to treat a variety of ailments. The pairing of cacao and mushrooms can be traced back thousands of years: Ceremonies in which fungi were mixed with cacao in an attempt to commune with the divine were an integral part of many Mesoamerican cultures. “The relationship between cacao and mushrooms is symbiotic,” says Zar. “The cacao is a vasodilator,” an agent that widens blood vessels, she continues, “and acts as a carrier for the mushrooms” across the blood-brain barrier, allowing the fungi to take effect. “As an interconnected, living network,” he says, “fungi are poster organisms for ecological and circular thinking.”
Persons: Shen Nong Ben Cao Jing, , Shen Nong, Isabella Zar, Merlin Sheldrake Locations: California
After listening to suggestions from firms that also included PDD Holdings' (PDD.O) Pinduoduo and JD.com (9618.HK), Li told them authorities would seek to make regulation of platform firms more transparent and predictable. Shares in some U.S.-listed Chinese firms rallied in premarket trade, with Alibaba Group Holding gaining 2.2% and PDD Holdings rising 2.7%. Still Zhou Hao, economist at Guotai Junan International, said Wednesday's meeting was a "positive signal". "A sound development of the platform economy is very significant to investors too. Prudent development of platform firms is important to investors' long-term valuation," he added.
Persons: Li Qiang, Li, ByteDance's Douyin, Zhou Hao, Ella Cao, Brenda Goh, Ellen Zhang, Ethan Wang, Ryan Woo, Barbara Lewis, Mark Potter Organizations: Wednesday, HK, PDD Holdings, Alibaba, Ant, Reuters, Guotai, Thomson Locations: BEIJING, China, premarket
BEIJING/LONDON, July 12 (Reuters) - China firmly opposes what it called the British government's "discriminatory actions" against Chinese firms, the country's embassy in the UK said after London intervened in Chinese-linked takeovers eight times in the last year. The British government said in a report that it had blocked or imposed conditions on eight transactions involving China-linked investment in domestic companies under its National Security and Investment Act in the last year. "We strongly urge the British side to stop its unreasonable suppression of Chinese enterprises and provide a fair, just and non-discriminatory business environment for them," the Chinese embassy in London said on Wednesday. In November Britain ordered Chinese-owned technology company Nexperia to sell at least 86% of Britain's biggest microchip factory, Newport Wafer Fab, following a national security assessment under the law. Britain is attempting something of a reset of relations with China, working together on areas of agreement while balancing national security concerns.
Persons: Ella Cao, Ethan Wang, Bernard Orr, Alistair Smout, Andrew MacAskill, Kate Holton Organizations: London, National Security and Investment, Thomson Locations: BEIJING, LONDON, China, London, Britain, Newport, Beijing
But a 2,000-year-old Chinese concept called "wu wei" (pronounced "ooo-way"), which translates to "non-action" or "effortless action," can help us lead more balanced, fulfilling and successful lives. I always try to implement wu wei into my practice, because research has shown that it can help lower stress and anxiety, while increasing satisfaction and overall well-being. Here's how to make wu wei part of your daily routine:1. Instead of obsessing over every detail, practicing wu wei means understanding that things may not go exactly as planned. Wu wei comes much easier when you pay attention to what's happening in the present moment, in a friendly and curious way.
Persons: I've, I'm, Wu wei, Lao Tzu, Junhong Cao Locations: New York City
China kindergarten attack kills six, sparks safety worries
  + stars: | 2023-07-10 | by ( ) www.reuters.com   time to read: +2 min
In August last year, three people were killed and six wounded in a stabbing at a kindergarten in the southern province of Jiangxi. In 2021, a man killed two children and wounded 16 at a kindergarten in the southwestern region of Guangxi. Attacks on children have also thrown a spotlight on mental health, which often goes under the radar due to cultural stigma attached to mental illnesses. Last month, a series of violent attacks in Hong Kong also raised the issue of mental health. Mental health experts point to the COVID-19 pandemic as a major factor behind an increase in mental health problems.
Persons: Wu, Bernard Orr, Judy Hua, Qiaoyi Li, Ella Cao, Ryan Woo, Robert Birsel Organizations: Media, Weibo, Thomson Locations: BEIJING, China's Guangdong, Lianjiang county, Lianjiang, China, Jiangxi, Guangxi, Jiangsu, Hong Kong
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