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☆ 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

☆ China, Solomon Islands sign policing pact in upgrade of ties
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +5 min

[1/3] Flags of Solomon Islands and China flutter near the Tiananmen Gate in Beijing, China July 11, 2023. "In just four years, the relationship between China and the Solomon Islands has developed rapidly, and we can now say that it is very fruitful," Li told Sogavare. The official added that the U.S. was committed to a strong relationship with the region and strengthening longstanding bonds with the people of Solomon Islands. Xi told Sogavare China supports more of its firms investing in the Solomon Islands and will continue to provide economic and technical assistance "without political strings attached". Chinese telecoms giant Huawei is already building a cellular network in the Solomon Islands, financed by a $66 million Chinese EXIM bank loan.

Persons: Florence Lo, Xi, Manasseh Sogavare, Premier Li Qiang, Sogavare, Solomon, Li, Washington, China's, Xi Jinping, Ethan Wang, Ella Cao, Ryan Woo, Kirsty Needham, David Brunnstrom, Himani Sarkar, Robert Birsel, Mark Heinrich, Lincoln Organizations: REUTERS, Solomon Islands, Beijing, BEIJING, Premier, U.S . National Security Council, China's, Xinhua, Huawei, Pacific Games, Thomson Locations: of Solomon Islands, China, Beijing, Florence, Taiwan, Solomon Islands, Pacific, United States, Australia, U.S, Solomon, Japan, Britain, Honiara, Sydney, Washington

☆ Goldman's China banks downgrade based on 'pessimistic assumptions' - state media
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 7 (Reuters) - Goldman Sachs' (GS.N) downgrade of some major Chinese lenders to "Sell" ratings is based on "pessimistic assumptions," state-backed Securities Times said in an editorial on Friday, as worries over the banking sector deepen amid a rocky economy. "It is not advisable to be bearish on the fundamentals of Chinese banks based on pessimistic assumptions, and to a large extent there is a misinterpretation," the newspaper said. Chinese bank shares listed in Hong Kong tumbled after the report was released. Investors are concerned about Chinese banks' exposure to local government debt, earnings risks stemming from such debt, and diverging fortunes among individual banks, Goldman said in the report. Chinese policymakers are stepping up efforts to boost infrastructure investment and are tackling hidden local government debts, the Securities Times said.

Persons: Goldman Sachs, Goldman, Ella Cao, Bernard Orr, Ziyi Tang, Jamie Freed Organizations: Securities Times, Agricultural Bank of China, Commercial Bank of China, Industrial Bank, Investors, Thomson Locations: BEIJING, Hong Kong

☆ China to ban food imports from Japan citing safety reasons
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 7 (Reuters) - China will ban the import of food from about one-fifth of Japanese prefectures for safety reasons, Chinese customs said on Friday, citing Japan's move to discharge nuclear contaminated water into the sea. China, the biggest buyer of Japan's seafood exports, said it would also strictly review the documents for food, especially aquatic products, from other parts of Japan, customs said in a statement. China customs said it would continuously strengthen the detection and monitoring of radioactive substances to ensure the safety of food imported from Japan in banning food from 10 prefectures. The move was to prevent the export of radioactive contaminated Japanese food to China and protect the food safety of Chinese consumers' imports, China said. China customs said the report did not fully reflect the views of all the experts involved in the assessment process, and the conclusions were not unanimously endorsed by the experts.

Persons: Japan's, Ella Cao, Bernard Orr, Jacqueline Wong Organizations: International Atomic Energy Agency, Thomson Locations: BEIJING, China, Japan

☆ China's northern cities brace for more torrid heat
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

[1/3] A man pulls a cart carrying jugs of water amid the orange alert for heatwave, at a hutong alley in Beijing, China July 5, 2023. The torrid heat has gripped China for several weeks, pushing local governments to ask residents and businesses to curb the usage of electricity. It is expected that the maximum temperature in most areas of the city will rise above 40 degrees Celsius, according to the state-backed Beijing Daily. The meteorological observatory in northern Hebei province also issued a red alert, with temperatures in some areas expected to reach 40-43 Celsius on Thursday. China's Meteorological bureau issued orange alerts, the second highest alert, in mostly northern China with temperatures expected to hit 40 degree Celsius and above.

Persons: Tingshu Wang, Bernard Orr, Ella Cao, Michael Perry Organizations: REUTERS, Beijing Daily, China's Meteorological, Beijing Municipal Bureau of Culture, Tourism, Thomson Locations: Beijing, China, Tingshu Wang BEIJING, Hebei province, North China, Mongolia, Shaanxi, Henan, Shandong, Chongqing

☆ 'Curse of 35': China's state media takes aim at ageist hiring policies
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 6 (Reuters) - Chinese state media on Thursday took aim at employers' discriminatory hiring practices, including a trend among companies seeking younger and cheaper workers that has become widely known as the "Curse of 35". Back in March, the newspaper cited two studies that laid bare how workers aged 35 years or over were losing out. With the economy losing momentum, China's survey-based jobless rate stayed at 5.2% in May, but youth employment jumped to a record 20.8%. And with the population aging, many people talk about the 'curse", believing their chances of getting a job or losing one worsen once they cross 35. "If people become unemployed at the age of 35, older people can only go back to college then," said another.

Persons: Ella Cao, Ryan Woo, Simon Cameron, Moore Organizations: The Workers Daily, Sichuan University, University, Twitter, Thomson Locations: BEIJING, Shanghai, Chengdu, Zhejiang

☆ China hosts Russian warships that passed by Taiwan, Japan
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 6 (Reuters) - China hosted two Russian warships that had earlier sailed past Taiwan and Japan, and the vessels are expected to hold a joint drill with the Chinese navy during their visit, demonstrating the enduring military cooperation between the two countries. The two frigates - Gromkiy and Sovershenniy - made port at the financial hub of Shanghai on Wednesday, Chinese state television reported. The same ships, which belong to the Pacific fleet of the Russian Navy, passed through waters near democratically governed Taiwan at the end of June. China and Russia have pledged stronger military ties, and on Monday, China's Defence Minister Li Shangfu met with the head of the Russian navy, Admiral Nikolai Yevmenov, in Beijing. Gerasimov was quoted by Tass news agency as saying that the two sides will continue to expand their military cooperation.

Persons: Xi Jingping's, Vladimir Putin, Li Shangfu, Nikolai Yevmenov, Commission Liu Zhenli, Valery Gerasimov, Gerasimov, Albee Zhang, Ella Cao, Ryan Woo, Ben Blanchard, Simon Cameron, Moore Organizations: Fleet, Pacific, Russian Navy, NATO, China's, Commission, Tass, Thomson Locations: BEIJING, China, Taiwan, Japan, Shanghai, Vladivostok, Okinawa, U.S, Moscow, Washington, Asia, Pacific, Russia, Russian, Beijing

☆ China's eastern Hangzhou city signs comprehensive strategic agreement with Alibaba
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: 1 min

BEIJING/HONG KONG, June 29 (Reuters) - China's eastern Hangzhou city has signed a comprehensive strategic cooperation agreement with the e-commerce giant Alibaba Group Holding (9988.HK), according to a city government statement on Thursday. It is expected that Alibaba can expand its leading advantage in the platform economy, and reinvigorate the innovation momentum of digital trade, according to the statement. The eastern city also hopes that Alibaba could expand more new businesses and land more new projects in Hangzhou. Reporting by Ella Cao in Beijing and Meg Shen in Hong Kong; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

Persons: Ella Cao, Meg Shen, Toby Chopra Organizations: Alibaba, HK, Thomson Locations: BEIJING, HONG KONG, Hangzhou, Beijing, Hong Kong

☆ Chinese Local Governments Used Fake Property Deals to Boost Revenues
▼ + stars: | 2023-06-27 | by ( Rebecca Feng | Cao Li | ) www.wsj.com time to read: 1 min

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-local-governments-used-fake-property-deals-to-boost-revenues-2e141906

Persons: Dow Jones

☆ China's Jan-May property investment, sales fall at faster pace
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: 1 min

BEIJING, June 15 (Reuters) - Property investment in China fell at a faster pace in January-May, dropping 7.2% from the same period a year earlier, official data showed on Thursday, adding to concerns about the outlook for the world's second-biggest economy. Property sales by floor area declined 0.9%, versus a 0.4% fall in the first four months, according to data from the National Bureau of Statistics (NBS). New construction starts measured by floor area fell 22.6%, after a 21.2% drop in the first four months. Funds raised by China's property developers were down 6.6% after a 6.4% slide in January-April. Reporting by Liangping Gao, Ella Cao and Ryan Woo; Editing by Kim Coghill and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: Liangping Gao, Ella Cao, Ryan Woo, Kim Coghill, Tom Hogue Organizations: National Bureau of Statistics, Thomson Locations: BEIJING, China

☆ China's Xi says willing to begin free trade talks with Honduras
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +3 min

[1/5] Honduran President Xiomara Castro and Chinese President Xi Jinping inspect Chinese honor guards during a welcome ceremony outside the Great Hall of the People in Beijing on June 12, 2023. Wang Zhao/Pool via REUTERSBEIJING, June 12 (Reuters) - China is willing to begin talks on a free trade agreement with Honduras "as soon as possible", Chinese President Xi Jinping said on Monday, during the first visit by the Central American country's president since forming diplomatic ties in March. Honduras' President Xiomara Castro is on a six-day official visit to China. Xi said China will unswervingly develop the friendly relations between the two nations and firmly support Honduras' economic and social development. "One-China principle is the primary premise and political foundation for the establishment of loyal diplomatic relations and the development of bilateral relations," Xi said.

Persons: Xiomara Castro, Xi Jinping, Wang Zhao, Xi, China's, Ella Cao, Liz Lee, Robert Birsel, Sharon Singleton Organizations: of, People, REUTERS, Central American, Central, Thomson Locations: Beijing, REUTERS BEIJING, China, Honduras, Taiwan, Honduran, Taipei, People's Republic of China, United States

☆ Heavy 'dragon boat water' rains hit southwest China, some cities flooded
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +1 min

BEIJING, June 9 (Reuters) - Non-stop heavy rains lashed parts of southwest China on Friday, triggering floods in cities, engulfing roads and partially submerging buildings. A particularly harsh first bout of summer rains known locally as "dragon boat water" saw the city of Beihai in Guangxi log 453 millimetres on Thursday. Rain is forecast to continue in southern China over the coming days while the northeast is also expected to be hit by sudden thunderstorms, the weather bureau reported. China, prone to floods, is increasingly warning of more extreme weather due to climate change. The central province of Henan, the granary of China, was recently struck by heavy rainfall that caused crops to sprout or be hit by blight, triggering concerns about food security.

Persons: Ella Cao, Ryan Woo, Edwina Gibbs Organizations: China Meteorological Administration, Thomson Locations: BEIJING, China, Beihai, Guangxi, Yulin, Henan

Statements from Washington and Beijing on meetings between Daniel Kritenbrink, assistant secretary of state for East Asian and Pacific Affairs, and Chinese officials including Vice Foreign Minister Ma Zhaoxu were positive, describing the talks as candid and productive. But critics have questioned U.S. overtures to China, arguing that past decades of engagement have failed to change Beijing's behaviour. "We're working hard to manage the relationship as best as we possibly can," said Kritenbrink, when asked by reporters in Beijing on Tuesday about the current state of bilateral ties. Asked if Blinken would visit China soon, Kritenbrink said: "We'll see, I have nothing to announce." Reporting by Ryan Woo and Ella Cao; Editing by Kim Coghill and Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Daniel Kritenbrink, Ma Zhaoxu, Kritenbrink, Lloyd Austin, Joe Biden's, Antony Blinken, Washington, Blinken, Biden, Xi Jinping, Ryan Woo, Ella Cao, Kim Coghill, Michael Perry Organizations: U.S, East Asian, Pacific Affairs, Foreign, U.S ., . Defense, U.S . State Department, ., Global Times, Economic Cooperation, APEC, Thomson Locations: BEIJING, China, Beijing, Washington, U.S, Chinese, Taiwan, South China, United States, Asia, San Francisco

BEIJING, June 6 (Reuters) - Chinese universities are drastically increasing tuition fees this year, with some making their first rises in two decades, hurt by a reduced national budget for tertiary education and tight local government finances. The higher fees come amid a financial crunch among local governments after three years of disruptive COVID-19 policies, a property crisis and a sluggish economy. Chinese universities, almost all public, rely heavily on state funding. The study suggested increasing tuition fees for international students to as much as 110,000 yuan per year from about 20,000 yuan. ($1 = 7.1165 Chinese yuan renminbi)Reporting by Ella Cao and Ryan Woo.

Persons: Liu Jin, Ella Cao, Ryan Woo, Gerry Doyle Organizations: East China University of Science, Technology, Shanghai Dianji University, Beijing Institute of Technology, Thomson Locations: BEIJING, Shanghai, Sichuan, Jilin

☆ Chinese quants redouble AI bets amid ChatGPT frenzy
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Thomas White/Illustration/File PhotoSHANGHAI/SINGAPORE, June 5 (Reuters) - Chinese quant hedge fund managers are rushing to explore ChatGPT-style tools, embracing the emerging AI technology that has sparked a global frenzy since the release of the widely popular Microsoft-backed OpenAI chatbot. His hedge fund already uses ChatGPT to better understand a company's fundamentals and avoid value traps, project earnings power, and identify investment opportunities and risks. A ChatGPT-like tool boosts quants' ability to process text-related data, said Feng Ji, chairman of Baiont Capital. Feng's hedge fund, backed by former Google China chief and AI veteran Kai-Fu Lee, has invested heavily in hardware to enhance computing power required for model-training. Regulators are looking for ways to tackle the impact of generative AI technology.

Persons: Thomas White, Steve Chen, Feng Ji, ChatGPT, Feng, Kai, Fu Lee, Feng's, Larry Cao, Cao, it's, Samuel Shen, Tom Westbrook, Himani Sarkar Organizations: Microsoft, Baiont, Google China, Flyer, Zhishan Investment, Wall, Regulators, HK, Baidu, CFA Institute, Thomson Locations: SHANGHAI, SINGAPORE, Shanghai, Beijing, Feng's Nanjing, China

☆ China, South Korea agree to strengthen talks on chip industry, Chinese commerce ministry says
▼ + stars: | 2023-05-27 | by ( ) www.reuters.com time to read: +2 min

[1/3] Printed Chinese and South Korean flags are seen in this illustration, July 21, 2022. REUTERS/Dado Ruvic/IllustrationBEIJING, May 27 (Reuters) - China and South Korea have agreed to strengthen dialogue and cooperation on semiconductor industry supply chains, amid broader global concerns over chip supplies, sanctions and national security, China's commerce minister said. Wang Wentao met with South Korean Trade Minister Ahn Duk-geun on the sidelines of the Asia-Pacific Economic Cooperation (APEC) conference in Detroit, which ended on Friday. Wang also said that China is willing to work with South Korea to deepen trade ties and investment cooperation. South Korea is in the crosshairs of a tit-for-tat row between the United States and China over semiconductors.

☆ Economic development in Asia still faces many challenges, China minister says
▼ + stars: | 2023-05-27 | by ( ) www.reuters.com time to read: +2 min

BEIJING, May 27 (Reuters) - Economic and trade development in the Asia-Pacific still faces many disturbances and challenges, China's commerce minister Wang Wentao said. Wang made the comments at the Asia-Pacific Economic Cooperation (APEC) conference in Detroit, where he met with several leaders and exchanged views on multilateral and bilateral economic and trade issues amid wider global trade rifts and uncertainties. "The Asia-Pacific region has always been the region with the most growth vitality, development potential and economic resilience in the global economy, but economic and trade development still faces many disturbances and challenges," Wang said, according to a statement from the Chinese Ministry of Commerce. Wang also discussed China's positions on supporting the multilateral trading system and promoting sustainable and inclusive trade development. World leaders have been looking for ways to fortify global supply chains, which are still wobbly in the post-COVID world.

☆ China says it will make efforts for political solution to Ukraine crisis
▼ + stars: | 2023-05-27 | by ( ) www.reuters.com time to read: +1 min

BEIJING, May 27 (Reuters) - China will make concrete efforts for a political solution to the Ukraine crisis, the Chinese foreign ministry quoted special envoy Li Hui as saying on Saturday. China has always adhered to an objective and fair position on Ukraine, argued for peace and promoted talks, Li was quoted as telling Russian Foreign Minister Sergei Lavrov. Li's visit to Russia was the final stop in a multi-country tour that Beijing said was aimed at discussing a "political settlement" to the Ukraine crisis. Li said China will strengthen exchanges and dialogues with all parties, including Russia, according to the readout from the foreign ministry. Reporting by Ella Cao and Bernard Orr; Editing by Kim Coghill and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

☆ China's Wuhan finance regulator urges hundreds of firms to repay debt, local media report
▼ + stars: | 2023-05-27 | by ( ) www.reuters.com time to read: +2 min

BEIJING, May 27 (Reuters) - The financial regulator of China's Wuhan city publicly exposed 259 firms with debt to the government and urged them to immediately pay up, local media reported on Saturday. The rare action from Wuhan's finance bureau on Friday comes as local governments in China become increasingly pressed by higher debt and expenses. The debtors, their corresponding guarantors and successors were requested to repay their debts to the asset management firm immediately after May 26, Yicai reported. State-owned Wuhan Yangtze River Asset Management Co is a professional platform responsible for the disposal of various non-performing assets in the central city, according to its official website. Wuhan's local budget revenue slid 8.5% year-on-year in the first quarter of 2023, according to data released by local the finance bureau.

☆ China industrial profits tumble 18% in April as demand sputters
▼ + stars: | 2023-05-27 | by ( ) www.reuters.com time to read: +4 min

BEIJING, May 27 (Reuters) - Profits at China's industrial firms slumped in the first four months of 2023, official data showed on Saturday, as companies continued to struggle with margin pressures and soft demand amid a faltering economic recovery. In April alone, industrial firms posted a 18.2% drop in profit year-on-year, according to the NBS, which only occasionally gives monthly figures. Chinese companies are struggling with both weak demand at home and softening demand in the country's major export markets. Earlier this month, Premier Li Qiang vowed more targeted measures to expand domestic demand and stabilise external demand in an effort to promote a sustained economic rebound. Industrial profit numbers cover firms with annual revenues of at least 20 million yuan ($2.89 million) from their main operations.

☆ China deletes 1.4 million social media posts in crackdown on 'self-media' accounts
▼ + stars: | 2023-05-27 | by ( Eduardo Baptista | ) www.reuters.com time to read: +3 min

BEIJING, May 27 (Reuters) - China's cyberspace regulator said 1.4 million social media posts have been deleted following a two-month probe into alleged misinformation, illegal profiteering, and impersonation of state officials, among other "pronounced problems". The Cyberspace Administration of China (CAC) said in a statement on Friday it had closed 67,000 social media accounts and deleted hundreds of thousands of posts between March 10 and May 22 as part of a broader "rectification" campaign. Since 2021, China has targeted billions of social media accounts in a bid to "clean" its cyberspace and make it easier for authorities to control. The latest crackdown targeted accounts on popular Chinese social media apps including WeChat, Douyin, and Weibo that fall under the category of "self media," a term that broadly refers to accounts that publish news and information but are not government-run or state-approved. Some 25,000 other accounts were targeted for impersonating public institutions, such as disease and prevention control centers and state-run research institutes.

☆ 'Deepfake' scam in China fans worries over AI-driven fraud
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +1 min

BEIJING, May 22 (Reuters) - A fraud in northern China that used sophisticated "deepfake" technology to convince a man to transfer money to a supposed friend has sparked concern about the potential of artificial intelligence (AI) techniques to aid financial crimes. China has been tightening scrutiny of such technology and apps amid a rise in AI-driven fraud, mainly involving the manipulation of voice and facial data, and adopted new rules in January to legally protect victims. "This shows that photos, voices and videos all can be utilised by scammers," one user wrote. "Can information security rules keep up with these people's techniques?" ($1=6.9121 Chinese yuan renminbi)Reporting by Ella Cao and Eduardo Baptista; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ One of China’s Poorest Provinces Faces Imminent Debt Problem
▼ + stars: | 2023-05-21 | by ( Rebecca Feng | Cao Li | ) www.wsj.com time to read: 1 min

One of China’s poorest provinces is testing Beijing’s mettle with a mountain of debt that local borrowers are struggling to repay. Investors worry it is a harbinger of another major debt crisis in the country, and believe the central government will have no choice but to defuse it.

☆ A Poor Province in China Splurged on Bridges and Roads. Now It’s Facing a Debt Reckoning.
▼ + stars: | 2023-05-21 | by ( Rebecca Feng | Cao Li | ) www.wsj.com time to read: 1 min

☆ China will resolutely curb large fluctuations in exchange rate - central bank
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +1 min

BEIJING, May 19 (Reuters) - China will resolutely curb large fluctuations in the exchange rate and study the strengthening of self-regulation of dollar deposits, the central bank said on Friday. The comment comes after the yuan dropped to multi-month lows and breached the closely watched 7-per-dollar level, pressured by a sputtering economic recovery, low yields and the U.S. dollar's broad rally. The country's central bank and forex regulator will jointly guide expectations, correct pro-cyclical and one-sided behaviour when necessary, and curb speculation, the People's Bank of China said in a statement. China will strengthen self-discipline management of U.S. dollar deposit businesses, improve currency hedging services for firms and reduce the cost of hedging for small and medium-sized firms, the bank said. Reporting by Ella Cao and Liz Lee; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

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