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☆ China's factory activity contracts less than expected in September
▼ + stars: | 2024-09-30 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

China's factory activity contracted for a fifth consecutive month in September as the world's second-largest economy struggles to revive its growth momentum. A PMI reading above 50 indicates expansion in activity, while a reading below that level points to contraction. However, China's Caixin PMI was 49.3, compared to 50.4 in August, according to the private survey compiled by S&P Global. The Caixin data released on Monday indicated that China's manufacturing sector experienced its sharpest contraction in 14 months in September, driven by declining demand and a weakening labor market. Headwinds for the manufacturing sector has continued to mount as a prolonged economic slowdown and property crisis dampen domestic demand.

Persons: Zhao Qinghe, Xi Jinping Organizations: National Bureau of Statistics, PMI, Reuters, NBS, P Global, National Bureau, Statistics, People's Bank of China

☆ Analysis: China is celebrating National Day but with the economic downturn not everyone is in the party spirit
▼ + stars: | 2024-09-30 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

Tourists visit an ancient city gate in Beijing, China ahead of National Day. The stock market may be in the midst of one of its most remarkable turnarounds, but economists say reversing China’s economic downturn will require much more work. “Stimulating the stock market doesn’t really do much for the real economy in China. Very few people invest in the stock market compared to other major markets,” said Logan Wright, director of China markets research at Rhodium Group. Property woesThe outlook for the real estate industry, which makes up about a quarter of the Chinese economy and 70% of household wealth, remains dim.

Persons: Japan’s “, Xi Jinping, Xi, Xu Tianchen, Hong, David Tepper, ”, Logan Wright, Wright, There’s, ” Wright, “, hasn’t, Alfred Wu, Lee Organizations: Hong Kong CNN, Economist Intelligence Unit, Reuters, Shenzhen bourses, Securities Times, Tourists, Management, CNBC, Barclays, Communist Party, Lee Kuan Yew, of Public, National University of Singapore Locations: Hong Kong, China, People’s Republic, United States, Beijing, Shanghai, Shenzhen, Guangzhou, China’s, Xi’s

☆ China property stocks rally after major cities ease homebuying restrictions
▼ + stars: | 2024-09-30 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +3 min

Noel Celis | Afp | Getty ImagesShares of Chinese property developers rallied on Monday after major cities in mainland China unveiled easing measures to boost homebuyer sentiment, following the central bank's blitz of policy stimulus. The Guangzhou city government said in a notice on Sunday that all restrictions on home purchases would be removed, effective from Monday. China Overseas Land & Investment and China Vanke climbed 5.06% and 12.89%. Mainland China's CSI 300 surged 6% Monday, after the index logged its best week in almost 16 years on Friday. The easing measures follow the central government's call last week to combat the property slump last week.

Persons: Noel Celis, China Vanke, Allen Feng, Gary Ng, Ng, Xi Jinping Organizations: HK, Afp, Getty, Mainland Properties, Longfor Group Holdings, Hang Lung, China Resources, ., . China Overseas Land & Investment, China's CSI, CSI, People's Bank of Locations: Guangzhou, China's, Guangdong, China, Shanghai, Hong Kong, . China, —, Beijing, People's Bank of China

☆ Biden approved Taiwan's biggest security package yet. China says the military aid won't deter it.
▼ + stars: | 2024-09-30 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +4 min

President Joe Biden on Sunday approved $567 million in defense aid for Taiwan. It is the largest aid package that US has ever sent to Taiwan. AdvertisementPresident Joe Biden on Sunday said the US will send Taiwan its largest-ever security package amid rising tensions with China. Spotting Chinese attackThe scale of Chinese military activity around Taiwan is believed to be getting larger, as previously reported by Business Insider. Rather than Biden has repeatedly suggested the US would respond militarily if China declared war on Taiwan.

Persons: Joe Biden, —, Lin Jian, Lin, Xi Jinping, Phil Davidson, Samuel Paparo, Wellington Koo, Rather, Biden, Tom Porter, Jim Hoare, Hoare Organizations: Service, Sunday, Department of Defense, White, Taiwan, Communists, Business, Financial Times, Bloomberg Locations: Taiwan, China, States, British

☆ 'No challenges can stop China's progress' Xi Jinping says in 75th anniversary speech
▼ + stars: | 2024-09-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

China's President Xi Jinping speaks during an awards ceremony at the Great Hall of the People in Beijing on Sept. 29, 2024, ahead of China's National Day. BEIJING — Chinese President Xi Jinping said Monday that no challenges can stop the country from moving forward and reiterated Beijing's reunification aims with Taiwan. "The path ahead will definitely see challenges," Xi said, before calling on the country to overcome uncertainties and risks. "No challenges can stop China's progress." The comments were translated by CNBC from a Chinese state media broadcast.

Persons: Xi Jinping, Xi Organizations: of, People, CNBC Locations: Beijing, BEIJING, Taiwan, People's Republic of China

☆ Despite Stock Market Hopes, China's Stimulus Plan Won't Fix Economy
▼ + stars: | 2024-09-29 | by ( Linette Lopez | ) www.businessinsider.com time to read: +7 min

Homebuyers can also now put less money down on their purchases — an attempt to breathe life into China's moribund property market. Since the pandemic, China's leader, Xi Jinping, has done little to stop the bleeding in the country's property market or to get China's ailing consumers to start spending money again. Xi's Beijing lacks the will and the power to turn China's economy around. At the heart of its problems is a lack of consumer demand and a property market going through a deep, slow-moving correction. Plus, there's Xi, who seems fairly uninterested in restructuring the property market.

Persons: Gongsheng, Wall, Xi Jinping, China —, Goldman Sachs, —, Sam Altman, Genéralé, Michael Pettis, Xi doesn't, Friedrich Hayek, Xi Organizations: Beijing, People's Bank of China, People's Bank, Shanghai, Chinese Communist Party, Nasdaq, CCP, Peking University, Carnegie Endowment, European Union Locations: China's, China, Beijing, Austrian

☆ Stocks to play the China trade until the latest stimulus package kicks in
▼ + stars: | 2024-09-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Until the government's measures pan out, investment strategists are recommending a handful of oversold stocks in China. U.S. hedge fund billionaire David Tepper said Thursday on CNBC's " Squawk Box " that he bought more Chinese stocks after the change in China policy. That hedge fund allocation rose to 7.3% on Tuesday, which saw the largest single day purchases by hedge funds since March 2021, Rubner said. Retail investors account for the majority of trading activity in mainland Chinese stocks, also known as A shares. Mainland Chinese stock exchanges are scheduled to close from Oct. 1 to Oct. 7 for a holiday, which this year commemorates the 75th anniversary of the People's Republic of China.

Persons: Wendy Liu, Rupal Agarwal, Bernstein, David Tepper, Donald Trump, Tepper, Pan Gongsheng, Xi Jinping, Scott Rubner, Goldman Sachs, Rubner, Goldman, China hasn't, Li Dongfang, Li, financials, — CNBC's Michael Bloom Organizations: CSI, JPMorgan, Tal Education, Huawei, People's Bank of China, CNBC, HK Locations: Shanghai, Shenzhen, China, Tsingtao, U.S, Zhejiang, Asia, Hong Kong, Beijing, Mainland, People's Republic of China

China's industrial profits plunged by 17.8% in August from a year ago, the National Bureau of Statistics said Friday. Industrial profits covers factories, mines and utilities in China. Sluggish domestic demand, a prolonged housing downturn and rising unemployment have weighed on the world's second largest economy. In August, China's industrial activity, retail sales and urban investment all grew slower than expected, with retail sales rising by barely more than 2% and industrial production by 4.5% from a year ago. The urban unemployment rate was 5.3% in August, an uptick from 5.2% in the previous month.

Persons: China's, Xi Jinping, Pan Gongsheng Organizations: National Bureau of Statistics, People's Bank of China Locations: China's, Jiangsu, China, Beijing

☆ French tycoon gains $17 billion from China’s economic stimulus push
▼ + stars: | 2024-09-27 | by ( Juliana Liu | ) edition.cnn.com time to read: +4 min

But by the end of the day, his net worth jumped by $17 billion to $201 billion, the index reported, calling it his third-biggest daily increase ever. That market, which accounted for 31% of total revenue last year, is dominated by China. Hong Kong’s benchmark Hang Seng index has added just over 12% so far this week, while mainland China’s blue-chip CSI300 has gained more than 15%. However, experts urged investors to be cautious as officials must still come up with ways of stabilizing the property market, which once accounted for as much as 30% of economic activity. It began to cool in 2019 and fell into a deep trough about two years later, after a government-led clampdown on developers’ borrowing.

Persons: Bernard Arnault isn’t, Arnault, LVMH, “, Nomura, Xi Jinping, Pan Gongsheng, Pan Organizations: Hong Kong CNN, LVMH, Bloomberg, Markets, People’s Bank of China Locations: China, Hong Kong, LVMH, Paris, Asia, “ Beijing

☆ China optimism is surging. Why some investors are cautious
▼ + stars: | 2024-09-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

A shareholder at a securities hall in Hangzhou, the capital of Zhejiang province in east China, on Sept. 24, 2024. "Markets should place more emphasis on the specifics of the stimulus," Lu said. The People's Bank of China this week cut major interest rates, and announced plans to lower rates for existing mortgage holders. Questions about scaleFor some investment institutions, that's still not enough to move the needle on their China outlook. A survey in September of more than 1,200 companies in China by the U.S.-based China Beige Book found that corporate borrowing declined, despite historic lows in the costs to do so.

Persons: Xi Jinping, Ting Lu, Lu, Nomura's Lu, that's, Paul Christopher, Christopher, Shehzad Qazi, Qazi Organizations: Getty, BEIJING, Shanghai, Nomura, People's Bank of, Finance, Wells, Wells Fargo Investment Institute, U.S Locations: Hangzhou, Zhejiang, China, Beijing, People's Bank of China, Wells Fargo, U.S . Federal, U.S

☆ Hong Kong gets two more giant pandas as Finland says it can’t afford its own bears
▼ + stars: | 2024-09-26 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

HONG KONG — Pandas An An and Ke Ke, a gift from Beijing to Hong Kong, arrived in the Chinese territory on Thursday to much fanfare, two days after Finland said it would return its own pair over mounting debts. Hong Kong officials welcomed the giant pandas at the city’s international airport with a red carpet on the tarmac and panda toys. The Sichuan-born male and female will increase the total number of pandas to six, the highest ever in the financial hub. Hong Kong leader John Lee said the pandas would soon receive new names through a public contest organized by the government. An An and Ke Ke’s arrival comes just after resident giant panda Ying Ying gave birth to twin cubs ahead of her 19th birthday.

Persons: Ke Ke, John Lee, Ying Ying, Xi Jinping, Jin Baobao, Roni Rekomaa, Ahtari, Risto Sivonen, Sivonen, ” Sivonen Organizations: HONG KONG —, Workers, Reuters, Nordic, Getty, Ahtari Zoo, Embassy Locations: HONG KONG, Beijing, Hong Kong, Finland, Sichuan, Guangdong Province, An, China, People’s Republic of China, Ahtari, AFP, Helsinki

☆ China's surprise stimulus could be a red flag, so investors should approach the nation's long-awaited rally with caution
▼ + stars: | 2024-09-26 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

AdvertisementLorraine Tan, Morningstar's director of equity research for Asia, also thinks monetary stimulus won't be sufficient. History says their skepticism is warranted, as China's past stimulus efforts have often failed to lead to sustainable gains. Even if this surge holds up, it won't necessarily spark a self-fulfilling prophecy that provides a lasting boost for China's economy. But others like Tan from Morningstar believe this bad news is reflected in Chinese stocks' cheap valuations. The team at UBS Global Wealth Management is also cautiously optimistic about Chinese stocks after this news.

Persons: —, they're, Betty Wang, Marcelli, Lorraine Tan, Tan, Brian Mulberry, Mulberry, Wang, China isn't, Jeff Kleintop, Charles Schwab, Donald Trump, Rory Green, Xi Jinping, Biden, Trump, That's, Kleintop, Morningstar, she'd Organizations: Service, Business, People's Bank of, Oxford Economics, UBS Global Wealth Management, Zacks Investment Management, Federal Reserve, BI Locations: China, People's Bank of China, Asia, Central, Republic

☆ China offers one-time cash allowance for those in extreme poverty
▼ + stars: | 2024-09-26 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

China's government announced it will offer a one-time cash allowance to those in extreme poverty, a day after its central bank rolled out a slate of stimulus measures aimed at shoring up the economy. The handout will be provided to "extremely poor people, orphans and other needy people on the occasion of the 75th anniversary of the founding of New China," China's Ministry of Civil Affairs reported on Wednesday. The report did not specify the size of the allowance or any further details. As of last November, 40.4 million people in China were covered by subsistence allowances. The average allowance was about 779 yuan ($110.80) per person a month for those staying in urban areas, while rural subsistence was 615 yuan per person.

Persons: Xi, Shaun Rein, Mao Zedong Organizations: New, Ministry of Civil Affairs, CPC, China Market Research, CNBC Locations: New China, China

☆ First time in months Xi involved in trying to stimulate economy: strategist
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFirst time in months China's Xi involved in trying to reinvigorate the economy, strategist saysShaun Rein, the founder and managing director of China Market Research Group, discusses the Chinese government's economic stimulus plans.

Persons: China's Xi, Shaun Rein Organizations: China Market Research

☆ China's Xi and top leaders call for halting real estate decline, responding to public concerns
▼ + stars: | 2024-09-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Authorities "must work to halt the real estate market decline and spur a stable recovery," the readout said in Chinese, translated by CNBC. The readout said leaders called for strengthening fiscal and monetary policy support, and touched on a swath of issues from employment to the aging population. Just days after the U.S. cut interest rates, the People's Bank of China on Tuesday announced a slew of planned interest rate cuts and real estate support. This real estate policy is aiming at reducing its drag on the economy." Tempering growth expectationsThe meeting readout said China would "work hard to complete" the country's full-year economic targets.

Persons: Xi Jinping, Zhiwei Zhang, Stocks, Goldman Sachs, Yue Su, Zong Liang, Zong, Bruce Pang Organizations: Getty, CNBC, Communist Party, People's Bank of China, Economist Intelligence Unit, Bank of Locations: Yuexi County, Anqing, Anhui province, China, BEIJING, Hong Kong, U.S, Beijing, JLL

☆ America's rivals are piling on the pressure all at once
▼ + stars: | 2024-09-26 | by ( Jake Epstein | ) www.businessinsider.com time to read: +9 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. These incidents over the past few weeks highlight how US rivals and foes are increasingly challenging the American-led global order as threats multiply worldwide. Russia, Iran, China, and North Korea have deepened their security ties as they simultaneously present Washington and its allies with new dilemmas that strain the US military. North Korea has remained firmly committed to maintaining its nuclear status and strengthening its arsenal despite intense international pressure. Much to the frustration of the US and its Western allies, North Korea has provided artillery and missiles.

Persons: —, Michael O'Hanlon, Vladimir Putin, Xi Jinping, SERGEI GUNEYEV, Putin, John Kirby, Pierre Crom, Israel, Kim Jong Un, David Lammy, AP Robert Gates, George W, Bush, Barack Obama Organizations: Service, Business, Brookings Institution, Getty, Russian Defense Ministry Press Service, Ukraine, White, National Security Council, North, renegades, North Korea —, Washington, Korean Central News Agency, Korea News Service, AP, Washington Post Locations: Russia, Iran, China, North Korea, Washington, Hawaii, Japan, Philippines, South China, Pacific, United States, America, Moscow, Russian, Kyiv, Tehran, Gulf of Aden, Gaza, Israel, Red, Korea, Ukraine, NATO, Europe

☆ CNBC's Inside India newsletter: Can India grow as fast as China did?
▼ + stars: | 2024-09-26 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Yet, India's central bank appeared to dismiss the negativity earlier this month and reiterated its bullish view of India's growth rate, still expecting the economy to grow by 7.2%. However, when prompted on whether India's growth rate could compete with what China has already achieved for over two decades, the governor was less buoyant. But if you are looking at 10-plus growth, before I venture into that, I have to really do my homework much more," Governor Das said. This week, China's central bank, President Xi Jinping and other top leaders announced plans to boost the country's economy and attract investment. If India intends to grow as fast as China did, it may have to get a move on.

Persons: Goldman Sachs, CNBC's Tanvir Gill, Shaktikanta Das, Das, Narendra Modi, he's, –, Xi Jinping, David Tepper, he'd, Kaanhari Singh Organizations: Bank of America, Deutsche Bank, Reserve Bank of India, CNBC, Bank, Appaloosa Management, Barclays Locations: Wall, India, China

☆ David Tepper's big bet after the Fed rate cut was to buy 'everything' related to China
▼ + stars: | 2024-09-26 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Billionaire hedge fund founder David Tepper said his big bet after the Federal Reserve's rate cut was to buy Chinese stocks. "We got a little bit longer, more Chinese stocks," Tepper continued. FXI 1D mountain iShares China Large-Cap ETF The iShares China Large-Cap ETF (FXI) rallied more than 6% following Tepper's comments, extending its gains from a winning session for Chinese and Hong Kong stocks. Tepper also noted the Chinese market is cheaper than U.S. equities. To be sure, rising geopolitical concerns including further tariffs between the U.S. and China have spooked many investors away from the China market.

Persons: David Tepper, Tepper, CNBC's, Xi Jinping Organizations: Fed, Appaloosa Management, Baidu, Wynn Resorts, U.S Locations: China, U.S, Hong Kong, Sands

☆ China fires ICBM into Pacific Ocean in first such public test in decades as regional tensions flare
▼ + stars: | 2024-09-25 | by ( Nectar Gan | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —China says it successfully fired an intercontinental ballistic missile into the Pacific Ocean on Wednesday, a rare public test that comes amid growing tensions with the United States and its regional allies. An ICBM carrying a dummy warhead was launched at 8:44 a.m. Beijing time and fell into a designated area in the high seas of the Pacific Ocean, the Chinese Defense Ministry said in a statement. This is the first time China has publicly announced a successful ICBM test in the Pacific Ocean in more than four decades. In 1980, China celebrated the successful test of its first ICBM, fired into the South Pacific from the Jiuquan Satellite Launch Center in the country’s northwestern desert. China held more than 500 operational nuclear warheads as of 2023 and will probably have over 1,000 warheads by 2030, the Pentagon said in its annual report on Beijing’s military last year.

Persons: China “, ”, Xi Jinping Organizations: Hong Kong CNN, Chinese Defense Ministry, People’s Liberation Army Rocket Force, Xinhua, ” Xinhua, Force, US Defense Department, Pentagon Locations: Hong Kong, China, United States, Beijing, Russia, Japan

☆ ‘Education of hatred’: Killing of Japanese boy sparks soul searching in China over rising nationalism
▼ + stars: | 2024-09-25 | by ( Cnn Staff | ) edition.cnn.com time to read: +9 min

It was the second knife attack on Japanese children and third assault on foreigners in China in recent months. “As a Chinese, I feel heartbroken, outraged and ashamed,” said a Shenzhen resident who laid a white rose outside the Japanese school following the boy’s death last Thursday. The killing has shaken the Japanese community in China, with some of Japan’s biggest companies offering to repatriate staff members and their families. Generations of Chinese grew up learning about the atrocities committed by Japanese soldiers in school textbooks and on state television. “There is no so-called Japan-hating education in China,” Foreign Ministry spokesperson Lin Jian said Monday.

Persons: ”, …, Xi Jinping, Lin Jian, “, influencers, WeChat, Kuaishou, Zhang, “ Little, ” Zhang, Yoko Kamikawa, Wang Yi, ” Kamikawa, Wang, Japan, I’m, I’ve Organizations: Hong Kong CNN, Authorities, Kyodo, East China, Japan, ” Foreign, Communist Party, CNN, Japan’s, Associated Press, Japanese Foreign Ministry, Chinese Foreign Ministry Locations: Hong Kong, China, Japan, Shenzhen, Beijing, East, United States, Tokyo, Yasukuni, China’s, Shanghai, New York, Guangzhou, ”, “

☆ Trump plays the fear card on the economy – and it seems to be working
▼ + stars: | 2024-09-24 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

In another twist of his extreme rhetoric, Trump also seems to be seeking scapegoats should he lose the election in just over 40 days. Last week, at an event on antisemitism, the former president warned that “the Jewish people” would be partly to blame if he loses in November. As president, I have to be your protector.”Former President Donald Trump holds a fighting antisemitism event at Trump National Golf Club Bedminster on August 15, 2024, in Bedminster, New Jersey. On Monday, the former president warned that if Congress tried to block him from imposing new tariffs on China, he’d just ignore lawmakers. Like Trump, Harris argues that US Steel should remain American owned in opposing a sale to Nippon Steel — Japan’s biggest steelmaker.

Persons: Donald Trump, “, ” Trump, Kamala Harris, Harris, ”, Trump, Benjamin Netanyahu, he’s, Biden, Netanyahu, —, Adam Gray, We’re, Viktor Orbán, ” mused Trump, Republican Party —, Xi Jinping, Xi, he’d, John Deere, “ I’m, haven’t, Joe Biden, Win McNamee Organizations: CNN, Democratic, Fox News Town, America, Trump National Golf Club Bedminster, Getty, Farmers, Capitol, Republican, Republican National Convention, Republican Party, Monday, Investments, Trump, The New York Times, Siena College, Steel, Nippon Steel Locations: Pennsylvania, China, Israel, Bedminster , New Jersey, Harris, America, Hungarian, Beijing, Mexico, United States, Illinois, Ramos, Sprankle's, Kittanning , Pennsylvania, Arizona , North Carolina, Georgia

☆ Yet another one of China's elite has disappeared after criticizing Xi Jinping
▼ + stars: | 2024-09-24 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +1 min

Zhu Hengpeng disappeared after criticizing Xi Jinping, according to The Wall Street Journal. Zhu is believed to have criticized China's economy and Xi's leadership in a private WeChat group. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA top economist has joined the growing list of China's elite to have disappeared from public life after criticizing Xi Jinping, according to The Wall Street Journal.

Persons: Zhu Hengpeng, Xi, Zhu, —, CASS, Chen Daoyin Organizations: Wall Street, Service, Institute of Economics, Chinese Academy of Social Sciences, Shanghai University of Political Science, Law, Business

☆ Finland zoo to send giant pandas back to China because they’re too expensive to keep
▼ + stars: | 2024-09-24 | by ( Alex Stambaugh | Story Reuters | ) edition.cnn.com time to read: +2 min

Helsinki, Finland — Finland will return two giant pandas to China in November, more than eight years ahead of time, as the zoo where they live can no longer afford their upkeep, the chair of the zoo’s board told Reuters on Tuesday. Since its founding in 1949, the People’s Republic of China has sent pandas to foreign zoos to strengthen trading ties, cement foreign relations and boost its international image. The Finnish agreement was for a stay of 15 years, but instead the pandas will soon go into a month-long quarantine before they are shipped back to China, according to Ahtari Zoo, the pandas’ current home. The pandas will soon go into a month-long quarantine before they are shipped back to China. Lehtikuva/Roni Rekomaa/ReutersRising inflation had added to the costs, the zoo said, and Finland’s government in 2023 rejected pleas for state funding.

Persons: Xi Jinping, Ahtari, Risto Sivonen, Roni Rekomaa, Sivonen, ” Sivonen Organizations: Finland —, Reuters, Nordic, Ahtari Zoo Locations: Helsinki, Finland, Finland — Finland, China, People’s Republic of China

☆ China Is Striking Deals to Cement Its Role as Asia’s Trade Hub
▼ + stars: | 2024-09-24 | by ( Keith Bradsher | More About Keith Bradsher | ) www.nytimes.com time to read: +1 min

Each of the efforts, in varying ways, faces obstacles. The nation’s top leader, Xi Jinping, will need close cooperation from border countries, some of which are politically volatile, like Kyrgyzstan, or internationally isolated, like North Korea. Neighboring countries that have long been wary of China, like Vietnam, will need to be reassured. But others have warned of Chinese domination of the Laotian economy. The new initiatives would also be expensive, and China has begun emphasizing smaller Belt and Road projects elsewhere.

Persons: Xi Jinping, ”, Ja Ian Chong Organizations: National University of Singapore Locations: Kyrgyzstan, North Korea, China, Vietnam, Laos, Southeast Asia, Russia, Ukraine

☆ American Companies' China Profits Are Declining; Increased War Chance
▼ + stars: | 2024-09-22 | by ( Linette Lopez | ) www.businessinsider.com time to read: +15 min

Without the promise of profits, American firms are also becoming less willing to go to bat for China — to reinforce the idea that China's market is crucial to the success of their futures. No demandAfter pandemic lockdowns ended in 2023, the Chinese economy experienced what is known on Wall Street as a "dead cat bounce." What money Chinese consumers are still able to spend is increasingly going to companies that grew up in their home country. Related storiesWhat money Chinese consumers are still able to spend is increasingly going to companies that grew up in their home country. It gives corporations, already under financial pressure as China's economy declines, even less reason to act as interlocutors encouraging stability between Washington and Beijing.

Persons: Washington —, Xi Jinping, Lee Miller, lockdowns, They're, Xi, Yi Gang, Michael Pettis, Tesla, Elon Musk, it's, Ball, Jamie Dimon, It's, China's, Goldman Sachs, Ray Dalio, seeping, Miller, Kamala Harris, Donald Trump, Harris, —, Trump, Biden, we're, Cordell Hull Organizations: Apple, Nike, Chinese Communist Party, People's Bank of, Carnegie Endowment, China Business Council, Starbucks, Street, Bridgewater Associates, Beijing, East Asia State Department, CCP, Trump, State Department, Republicans, Financial, Broadcom, Nvidia, Biden Administration Locations: China, America, Beijing, Washington, American, South China, Taiwan, People's Bank of China, Shanghai

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