DIRS.INFO The most relevant business & tech news

☆ Tesla's China expansion hits speed bump amid industry overcapacity
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +5 min

"You could argue that as Tesla, I've got new products, I need to have a new factory to build them in," he said. "But viewed from the China government's point of view, all they see is a market that's oversupplied." Construction of Tesla's Shanghai plant took less than a year to complete after it broke ground on the site in 2019. U.S. luxury EV maker Lucid Group (LCID.O) is also keen to make cars in China but has been advised that the possibility was low, industry sources said. "China needed Tesla to open the market for retail consumers, but Tesla needs China, because the supply chain benefits of being here and the competitive bar that's set here makes Tesla a more competitive company globally.

Persons: Tesla, Bill Russo, I've, Elon Musk, Ding Xuexiang, Musk, it's, Dan Ives, EVs, Nio, Xiaomi, Automobility's Russo, Zhang Yan, Brenda Goh, Jamie Freed Organizations: National Development, Reform Commission, Tesla, Wedbush Securities, Reuters, HK, Lucid, Thomson Locations: China, SHANGHAI, Shanghai, Beijing, CHINA, United States, Southeast Asia, Canada, India, South Korea, Indonesia

REUTERS/Fabrizio BenschSummarySummary Companies Germany unveils first ever National Security StrategyDocument reflects growing focus on security over economyContains strong criticism of China but does not mention TaiwanImplementation could be hampered by lack of Security CouncilBERLIN, June 14 (Reuters) - China poses a growing threat to global security, Germany said in its first national security strategy on Wednesday, underscoring Berlin's shift in emphasis from economic interests to geopolitics following Russia's invasion of Ukraine. It also omits some major issues, such as Taiwan, and as expected, does not create a National Security Council that would help its implementation. "We paid for every cubic metre of Russian gas twofold and threefold with our national security." Russia is the top threat to European peace "for now", the National Security Strategy (NSS) said. "The good thing is that German companies are drawing similar conclusions to the German federal government," she said.

Persons: Olaf Scholz, Fabrizio Bensch, cyberattacks, Chancellor Olaf Scholz, Annalena Baerbock, Ola Kaellenius, Baerbock, Noah Barkin, Norbert Roettgen, Scholz, Christian Lindner, Andreas Rinke, Miranda Murray, Rachel More, Madeline Chambers, Christoph Steitz, Angus MacSwan, Mark Potter, Alexandra Hudson Organizations: REUTERS, Germany, Security, BERLIN, Security Council, National Security, NSS, Volkswagen, BASF, BMW, Benz, NATO, Alexandra Hudson Our, Thomson Locations: Berlin, Germany, China, Taiwan, Ukraine, Beijing, Asia, Russia, Moscow, Europe, Moldova, Georgia

☆ China holds live-fire drills in East China Sea north of Taiwan
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

BEIJING, June 13 (Reuters) - China began military exercises in the East China sea to the north of Taiwan on Tuesday, including live-fire exercises from warships, as the U.S and its allies conduct their drills in the Western Pacific. China routinely conducts exercises along its coast, though the ones near Chinese-claimed Taiwan often attract the most attention. The drills are near the Dachen islands, which Taiwan controlled until 1955 until being evacuated after other nearby islands were seized by Chinese forces in a bloody battle. China will hold separate exercises in another northern part of the East China Sea until late Wednesday afternoon, the maritime safety agency said. China's East China Sea exercises coincide with a quadrilateral naval exercise in the Philippine Sea that started on Friday involving the United States, Japan, Canada and France.

Persons: Mao Zedong's, Ronald Reagan, Ryan Woo, Albee Zhang, Ben Blanchard, Robert Birsel Organizations: U.S, Safety Administration, East China, China, U.S . 7th Fleet, Thomson Locations: BEIJING, China, East China, Taiwan, Western Pacific, Zhejiang, China's Fujian, Republic of China, Taipei, East, Philippine, United States, Japan, Canada, France

☆ Chinese warship passed in 'unsafe manner' near US destroyer in Taiwan Strait, military officials say
▼ + stars: | 2023-06-04 | by ( ) www.reuters.com time to read: +3 min

WASHINGTON, June 4 (Reuters) - A Chinese warship came within 150 yards (137 meters) of a U.S. destroyer in the Taiwan Strait in "an unsafe manner," U.S. military officials said, as China blamed the United States for "deliberately provoking risk" in the region. China's military rebuked the United States and Canada for "deliberately provoking risk" after the countries' navies staged a rare joint sailing through the sensitive Taiwan Strait. The U.S. Indo-Pacific Command said the Chung-Hoon and Canada's Montreal were conducting a "routine" transit of the strait when the Chinese ship cut in front of the American vessel. The maritime encounter was the latest close call between the Chinese and U.S. military. Chinese Defense Minister Li Shangfu told Asia's top security summit on Sunday that conflict with the United States would be an "unbearable disaster" but that his country sought dialogue over confrontation.

Persons: Chung, Mao Zedong's, Taiwan's, Joe Biden, Hoon, Liu Pengyu, Jake Sullivan, Fareed Zakaria, Li Shangfu, Ted Hesson, Grant McCool Organizations: Pacific Command, Taiwan, U.S, U.S . Navy, Royal Canadian Navy, Global, U.S ., House, CNN, Chinese Defense, Thomson Locations: U.S, Taiwan, China, United States, People's Republic of China, Republic of China, Canada, The U.S, Republic, Taiwan Strait, Montreal, Washington, Chinese, South

☆ Guatemala president pledges strong support for 'Republic of Taiwan'
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +2 min

Speaking at a welcoming ceremony outside Taiwan's presidential office, Giammattei said Guatemala and Taiwan were "brotherly countries" and important allies. Speaking in Spanish, he referred twice to the "Republic of Taiwan", rather than its official name, the Republic of China, generally stylised these days by the government as the Republic of China, Taiwan. Giammattei, standing next to Taiwan President Tsai Ing-wen, ended his speech with a rousing "long live free Taiwan", receiving a broad smile from Tsai who thanked him in English. [1/6] Taiwan's President Tsai Ing-wen walks next to Guatemala's President Alejandro Giammattei during his welcome ceremony in front of the Presidential building in Taipei, Taiwan April 25, 2023. Giammattei is paying a return visit to Taiwan after Tsai visited Guatemala less than a month ago.

☆ Yellen to lay out U.S. economic priorities on China in Thursday speech
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +3 min

Yellen, who said last week she still hopes to visit Beijing to meet with her new Chinese economic counterparts, will deliver remarks at Johns Hopkins University's School of Advanced International Studies, the Treasury said in a statement. Yellen's speech will detail the Biden administration's economic priorities on China, including securing U.S. national security interests, fostering "healthy" competition and cooperating, where possible, on global issues such as climate change, debt relief and macroeconomic stability. Yellen also is expected to highlight U.S. economic strength. A Treasury official said the speech comes at an opportune time just after Yellen also spoke last week with counterparts from G7 democracies, Australia and New Zealand. Another audience for the remarks is China's new economic leadership team led by Liu's replacement, Vice Premier He Lifeng.

April 17 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. The Asian calendar on Monday is light, with only Indonesian trade and Indian wholesale price inflation potentially moving markets. Indonesia's central bank begins a two-day meeting, and will announce its policy decision on Tuesday. chartInvestors will also have the first opportunity to react to two developments over the weekend - a policy steer from China's central bank chief, and Saturday's apparent attack on Japanese Prime Minister Fumio Kishida. Yi also said the central bank will seek to get real interest rates slightly below the potential growth rate.

WASHINGTON, April 14 (Reuters) - A committee of Sri Lanka's international private creditors sent its first debt rework proposal to the country's authorities regarding more than $12 billion in bonds outstanding, according to three sources with direct knowledge of the matter. It is the first bondholder proposal after the island nation of 22 million people defaulted on its debt a year ago. A spokesperson representing the creditor committee declined to comment. Bondholders and government officials met in Washington this week, with legal and financial advisers for both sides present, two sources said. China, Sri Lanka's biggest bilateral creditor, did not join the announcement even though it holds the key to solving debt woes for some low- and middle-income countries.

WASHINGTON, April 14 (Reuters) - The International Monetary Fund's steering committee on Friday said it would accelerate its discussions on quota reforms at the global lender with an eye to making "considerable progress" by its next meeting in October. "In this context, we support at least maintaining" the IMF’s current lending resources, Calvino said in a summary of the committee's work. "With regard to IMF resources, I continue to believe that overall resources remain adequate," Yellen said. "At the same time, the IMF needs to follow through on its commitment to a new quota formula that is both fair and simple and primarily reflects the economic size of its member countries." He called for a "pragmatic approach" to complete the review by December to increase IMF resources and to "strengthen the voice and representation of dynamic emerging market and developing economies."

[1/4] A Chinese warship fires at a target during a military drill near Fuzhou, Fujian Province, near the Taiwan-controlled Matsu Islands that are close to the Chinese coast, China, April 8, 2023. REUTERS/Thomas PeterFUZHOU, China, April 8 (Reuters) - A Chinese warship in seas facing the Taiwan Strait began live-fire drills on Saturday as Beijing began military exercises it calls a warning against what it considers pro-Taiwan independence forces. China views democratically governed Taiwan as its own territory and has never renounced the use of force to bring the island under its control. Smoke and muzzle flares were visible from the stern of the warship as shells were fired on targets on land and water. When asked about Taiwan, Zhao said he hopes the two sides could "reunite" as quickly as possible.

☆ Taiwan faces choice of 'peace and war', ex-president says after China trip
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +3 min

[1/5] Former Taiwanese President Ma Ying-jeou arrives at Taoyuan international airport after concluding his 12-day trip to China in Taoyuan, Taiwan April 7, 2023. Ma is the first former Taiwanese president to ever visit China. Since the defeated Republic of China government fled to Taiwan in 1949 after losing a civil war to Mao Zedong's communists, no serving island leader has visited China. The future is a choice between peace and war," Ma told reporters at Taiwan's main airport after arriving from Shanghai at the end of his 12-day visit to China. Ma said Taiwan could share a "common political basis" with China, which would be in the best interests of the people of Taiwan.

[1/2] French President Emmanuel Macron delivers a speech to inaugurate the Festival Croisements at the Red Brick Museum in Beijing, China, April 5, 2023. For Macron's visit at least, there are high expectations in Beijing. "In other words, not everyone wants to see Macron's visit to China go smoothly and successfully." Later in the afternoon, Macron and von der Leyen will separately hold talks with President Xi Jinping before all three hold trilateral talks in the evening. "Three-quarters of the delegation are business leaders: the goal is first and foremost to sign contracts," left-wing MEP Raphael Glucksmann wrote on Twitter ahead of Macron's visit.

☆ This former Trump White House official says Republicans are 'such nerds' for pushing a 'ridiculous' ban on TikTok
▼ + stars: | 2023-04-06 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

But John McEntee, a former Trump White House official, thinks that's "ridiculous." But John McEntee, who worked as a top White House staffer when former President Donald Trump attempted to ban the app via executive order, says he's unabashedly "pro-TikTok" and insists the push from the right to ban the Chinese-owned app is "ridiculous." "I think Republicans are such nerds for even doing this," McEntee, the one-time Director of the Official of Presidential Personnel, told Insider in an interview on Thursday. In that job, he reportedly scrutinized White House staffers for their perceived loyalty and played a significant role in the effort to pressure Vice President Mike Pence to overturn the election results on January 6, 2021. In one widely-viewed TikTok, McEntee dances to Demi Lovato's "La La Land" while riffing on liberals attending their first protest, making hand-horns as Lovato sings the phrase "converse with my dress."

☆ Factbox: Diplomatic competition between Taiwan and China
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +3 min

April 5 (Reuters) - Taiwan and China have engaged for years in competition for diplomatic recognition, but the pendulum has long swung decisively in Beijing's favour. Honduras last month ended its decades-long relationship with Taiwan and said it only recognised China, leaving Taiwan with formal diplomatic relations with just 13 countries. Here are some facts about the diplomatic feud between Taiwan and China:* Following the communist revolution in China in 1949, the defeated Republic of China government fled to Taiwan, insisting that it remained the sole legal representative of the Chinese people. China says Taiwan is merely one of its provinces and only Beijing can represent the island on the world stage. * Some countries have swapped between Taiwan and China more than once, including Liberia and the Central African Republic.

☆ Explainer: Why is China so angry about Taiwan president meeting US Speaker McCarthy?
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +4 min

Here are the key issues in Taiwan-U.S., China-U.S. and Taiwan-China relations, why China is so angry about the meeting and what it might do to express its anger:WHY IS CHINA SO ANGRY? China staged war games around Taiwan last August after then-House Speaker Nancy Pelosi visited Taipei, and has threatened unspecified retaliation if the McCarthy meeting goes ahead. Taiwan's official name continues to be the Republic of China, though these days the government often stylises it as the Republic of China (Taiwan). She says the Republic of China and People's Republic of China are "not subordinate" to each other. Beijing says Tsai must accept that both China and Taiwan are part of "one China".

☆ Factbox: Relations between Taiwan and the United States
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +3 min

Here are some facts about the relationship between Taiwan and the United States. * During the height of the Cold War, Taiwan hosted U.S. military bases and the two had a Mutual Defence Treaty. * In 1979, the United States severed official relations with the government in Taipei and instead recognised the government in Beijing. * Post-1979, the U.S. relationship with Taiwan has been governed by the Taiwan Relations Act, which gives a legal basis to provide Taiwan with the means to defend itself, but does not mandate that the United States come to Taiwan's aid if attacked. * The United States retains a large de facto embassy in Taipei called the American Institute in Taiwan, staffed by diplomats.

☆ Taiwan, China must do 'everything possible' to avoid war- former president Ma
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +3 min

[1/3] Former Taiwanese president Ma Ying-jeou meets the head of China's Taiwan Affairs Office of the State Council Song Tao, in Wuhan, Hubei province, China in handout picture released March 30, 2023. Ma Ying-jeou's Office/Handout via REUTERSTAIPEI, March 30 (Reuters) - Taiwan and China must do everything possible to avoid war and it is the responsibility of both sides' leaders to ensure peace, former Taiwan President Ma Ying-jeou told a senior Chinese official on Thursday. Ma arrived in China on Monday, the first time a former or sitting Taiwanese president has visited the country since the defeated Republic of China government fled to Taiwan in 1949 after losing a civil war to Mao Zedong's communists. "The two sides must maintain exchanges, cooperate together, and do everything possible to avoid war and conflict." Ma, who was in office from 2008-2016, met Chinese President Xi Jinping in Singapore in late in 2015 shortly before current Taiwan President Tsai Ing-wen was elected.

☆ China's green loans exceed $3.2 trln, central bank chief says
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

BOAO, China, March 29 (Reuters) - China's outstanding green loans currently exceed 22 trillion yuan ($3.2 trillion), accounting for about 10% of the country's total loan balance, People's Bank of China Governor Yi Gang said on Wednesday. Separately, China's green bonds have hit more than 2.5 trillion yuan, Yi said at the Boao Forum in southern China's Hainan province. "Achieving carbon neutrality requires 'carrots and sticks'," Yi said, adding that a central bank incentive mechanism, which provides commercial banks with loans with interest rates as low as 1.75%, could be equated to a "carrot". To support carbon emission reduction, the central bank has lent more than 300 billion yuan via a relending tool which has helped banks to make 600 billion yuan in loans to green projects. The central bank said in January it would keep the relending tool in place until the end of 2024.

☆ 'We are all Chinese', former Taiwan president says while visiting China
▼ + stars: | 2023-03-28 | by ( Nicoco Chan | ) www.reuters.com time to read: +3 min

[1/4] Former Taiwanese President Ma Ying-jeou gestures as he arrives at an airport in Shanghai, China March 27, 2023. Ma, in office from 2008-2016, is the first former or current Taiwanese president to visit China since the defeated Republic of China government fled to Taiwan in 1949 at the end of a civil war with the Communists. He is visiting amid heightened tension as Beijing uses political and military means to try and pressure democratically governed Taiwan into accepting Chinese sovereignty. Taiwan President Tsai Ing-wen has repeatedly offered talks with China, but has been rejected as China considers her a separatist. He and Chinese President Xi Jinping met in Singapore in 2015.

[1/5] Former Taiwan President Ma Ying-jeou speaks to the media at the airport before departing on a visit to China, as for the first time a former or current Taiwanese leader will be visiting since the defeated Republic of China government fled to the island in 1949, in Taoyuan, Taiwan March 27, 2023. REUTERS/Ann WangTAOYUAN, Taiwan, March 27 (Reuters) - Former Taiwan President Ma Ying-jeou left for China on Monday on a landmark trip, saying he hoped to bring about peace and improve relations through the interactions of young people. Ma, in office from 2008-2016, will be the first former or current Taiwanese president to visit China since the defeated Republic of China government fled to Taiwan in 1949 at the end of a civil war with the Communists, where it remains to this day. Ma met Chinese President Xi Jinping in Singapore in late 2015 shortly before the current Taiwan president, Tsai Ing-wen, won an election. The KMT says outreach to China is needed now more than ever given the tensions across the Taiwan Strait.

☆ Taiwan told to 'pack up and leave' Honduras after ties severed
▼ + stars: | 2023-03-27 | by ( Gustavo Palencia | ) www.reuters.com time to read: +3 min

[1/3] A vehicle leaves the Taiwan Embassy after Honduras has given Taiwan 30 days to vacate its embassy after severing relations with Taiwan in favor of China, in Tegucigalpa, Honduras March 26, 2023. China has long argued that democratically ruled Taiwan is part of its own territory with no right to state-to-state ties, a position Taipei strongly rejects. In his remarks, Garcia said 30 days "is more than enough time to pack up and leave," adding that officials aim for an "orderly, friendly" exit. Taiwan Foreign Ministry spokesman Jeff Liu said 30 days was an "international norm", and that they would comment further later. In its own statement on Monday, the conservative National Party pledged to re-establish ties with Taiwan if it can retake the Honduran presidency in 2026.

☆ Former Taiwan president Ma open to meeting leaders on landmark China trip
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +3 min

Ma met Chinese President Xi Jinping in Singapore in late 2015 shortly before now Taiwan President Tsai Ing-wen won a presidential election. "Can't Ma Ying-jeou see China's true nature?" Given that neither Taiwan nor China's governments recognise each other, Ma will simply be referred to as "Mr. Ma Ying-jeou" while he is in China, Hsiao said, to avoid thorny political issues. The KMT says outreach to China is needed now more than ever given the tensions across the Taiwan Strait. If young people can communicate and have dialogue, it will definitely reduce the current tensions," Hsiao said of Ma's thoughts on the visit.

☆ Former Taiwan president Ma to visit China in landmark trip
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: 1 min

TAIPEI, March 19 (Reuters) - Former Taiwan President Ma Ying-jeou will visit China this month, his office said on Sunday, the first time a former or current Taiwanese leader has visited since the defeated Republic of China government fled to the island in 1949. Ma, who remains a senior member of Taiwan's Kuomintang (KMT) opposition party, held a landmark meeting with Chinese President Xi Jinping in Singapore in late 2015, shortly before current Taiwan President Tsai Ing-wen was elected. Ma's office said that he would visit China from March 27 to April 7 and go to the cities of Nanjing, Wuhan, Changsha, Chongqing and Shanghai. Reporting by Ben Blanchard Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Taiwan says it hopes to bring back soldier who went to China
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, March 14 (Reuters) - Taiwan's defence minister said on Tuesday that the government is investigating the disappearance of a soldier serving on an offshore island who has been found in China, and vowed to bring him back. Speaking to reporters at parliament, Minister Chiu Kuo-cheng said: "We certainly hope to bring him back home. The minister denied what he called rumours that the soldier had fled from abusive treatment by the military. The soldier, serving on Erdan islet close to the Chinese coast, went missing last week and was found on Monday. China, which views Taiwan as its own territory, has over the past three years stepped up military and political pressure to try and get Taiwan to accept Chinese sovereignty.

☆ Taiwan says soldier who went missing has been found in China
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, March 13 (Reuters) - A Taiwanese soldier serving on an islet close to the Chinese coast who went missing last week has been found in China, a senior Taiwan minister said on Monday, an incident that has happened amid heightened tensions. Speaking to reporters in parliament, Chiu Tai-san, head of Taiwan's China-policy making Mainland Affairs Council, said the soldier was in China. The defence ministry and relevant departments are actively aware of the relevant progress and situation," he said. China, which views Taiwan as its own territory, has over the past three years stepped up its military and political pressure to try and get Taiwan to accept Chinese sovereignty. During the height of the Cold War, defectors from both sides would on occasion swim between China and Kinmen.

Search resuls for: "China Go"

25 mentions found