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☆ China takes a cautious approach to its economy in 2023
▼ + stars: | 2023-03-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Beijing announced Sunday a target of "around 5%" growth in gross domestic product for 2023, with only a modest increase in fiscal support. "The government's conservative growth target of 5% for 2023 recognizes that the pickup in China's growth continues to face headwinds," Martin Petch, vice president and senior credit officer, Moody's Investors Service, said in a note. "Some local governments are finding economic recovery difficult and are facing prominent fiscal imbalances," the report said. Consumption is keyConsumption can become the primary driver of economic growth this year, Li Chunlin, deputy director at the NDRC, told reporters Monday. An overall recovery in the economy can help fiscal revenues grow, and boost demand for workers, he said.

Workers make charging equipment for new energy vehicles at a workshop of Shandong Dingsheng Electric Equipment in Zaozhuang, east China's Shandong province. China's GDP grew by only 3% last year. On Sunday, the Chinese government is widely expected to announce a GDP growth target of around or above 5% for the year. "This year a likely rebound in the housing market (as well as the exit from its 'zero Covid' policy) will help China's GDP growth to improve," said Societe Generale. The bank is the most optimistic of firms surveyed by CNBC, with a GDP growth forecast of 5.8%.

☆ Chinese authorities said they were preparing to shoot down an 'unidentified flying object' spotted near the Yellow Sea
▼ + stars: | 2023-02-12 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +2 min

Chinese authorities said they have spotted an unidentified flying object and are preparing to shoot it down. The object was spotted over the city of Rizhao on the Yellow Sea, authorities said. The announcement comes a week after a suspected Chinese spy balloon was shot down over the Atlantic Ocean. Pentagon officials later said that a second suspected Chinese surveillance balloon had been spotted over Latin America on Thursday. The saga of unidentified objects has since continued, as on Friday, the US shot down another unidentified object flying approximately 40,000 feet over Alaska, and on Saturday, another unidentified object was shot down over northern Canada.

☆ China's factory prices fall as manufacturing struggles to recover
▼ + stars: | 2023-02-10 | by ( Joe Cash | ) www.reuters.com time to read: +4 min

[1/2] Employees work at the production line of aluminium rolls at a factory in Zouping, Shandong province, China November 23, 2019. The drop in factory gate prices was unexpected because China's economic activity returned to growth in January. The official purchasing managers' index (PMI), which measures manufacturing activity, crossing the 50-point threshold for the first time since September. Falling input prices, including chemicals, as well as lower crude oil and domestic coal prices contributed to the greater-than-expected decline. Core inflation, which excludes food and energy prices ticked up to 1.2% last month from an annual gain of 0.7% in December.

The trade also provides a way to get Russian oil to market and bring much-needed export earnings to Moscow. "We've been looking at Russian fuel oil since December. China's total fuel oil imports surged to about 1.76 million tonnes in December, highest since September 2021, official customs data showed. Fuel oil imports from blending hubs trend higher"The deep discounts offered are driving the trend as independent refiners are price sensitive. Asia will continue to soak up cheaper Russian (fuel oil) barrels on top of crude," Jamil said.

☆ Russia says it carried out hypersonic missile exercises using a frigate in the Atlantic
▼ + stars: | 2023-01-25 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

This photo taken on April 21, 2019 shows the Russian missile frigate Admiral Gorshkov arriving in Qingdao in China's eastern Shandong province. The Russian Defense Ministry said Wednesday one of its hypersonic-missile carrying frigates had conducted "hypersonic missile exercises" in the western part of the Atlantic Ocean. The frigate Admiral Gorshkov tested the strike capabilities of Russia's much-hyped Zircon hypersonic missile in the western Atlantic Ocean, according to a statement released by the ministry, using "computer simulation" exercises. "In accordance with the training situation, the frigate practiced arranging [a] Tsirkon hypersonic missile strike against a maritime target at a distance over 900 kilometers away," Russia's defense ministry said in its statement about the exercise. The ministry noted that the Admiral Gorshkov frigate "is a modern multi-purpose ship, equipped with guided missiles, and designed for operating in distant maritime and oceanic areas."

☆ As COVID surged in China, so did spending by funeral providers
▼ + stars: | 2023-01-20 | by ( Eduardo Baptista | ) www.reuters.com time to read: +4 min

China said last Saturday that nearly 60,000 people with COVID had died in hospitals between Dec. 8 and Jan. 12 - a roughly 10-fold increase from previous disclosures. However, that figure excludes those who died at home, and some doctors have said they are discouraged from putting COVID on death certificates. "In recent times in Jieshou City, the cremation business volume has increased, the funeral hall's remains refrigerator cannot meet the current unit demand. Now need to purchase 10 units of all-in-one three-door freezers, for a total investment of about 400,000 yuan," the tender read. "In December 2022, the country adjusted its COVID policy, the cremation business of funeral parlours surged, and the demand for cremation equipment from funeral parlours in some areas increased," it said.

If doctors believe that the death was caused solely by COVID-19 pneumonia, they must report to their superiors, who will arrange for two levels of "expert consultations" before a COVID death is confirmed, it said. "We have stopped classifying COVID deaths since the reopening in December," said a doctor at a large public hospital in Shanghai. Three other doctors at public hospitals in different cities said they were unaware of any such guidance. Before Saturday, China was reporting five or fewer COVID deaths per day. But the hospital told him it had run out of medicine, so they could only go home.

☆ Factbox: How China is seeking to boost its falling birth rate
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

[1/3] An elderly person stands outside a house amid snowfall in Beijing, China January 12, 2023. ONE-CHILD POLICY- China implemented a one-child policy from 1980 to 2015 in response to government concerns about the social and economic consequences of continued rapid population growth. - The policy, which limited families to one child, was strictly enforced with violators fined and mothers often forced to have abortions. - Shenzhen, a city in southern China, gives couples having a third child or more an annual allowance of over 6,000 yuan ($890) until the child turn three. ($1 = 6.7044 Chinese yuan)Reporting by Farah Master and the Beijing newsroom; editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

☆ China’s exports plunge as global demand weakens, but trade with Russia hits record high
▼ + stars: | 2023-01-13 | by ( Laura He | ) edition.cnn.com time to read: +3 min

But plunging shipments in December suggest exports are likely to struggle in early 2023 as the global economy weakens. That translates into a trade surplus of $877.6 billion, surpassing 2021’s record of $676 billion. However, “with growth outside of China still slowing, exports may continue to contract until the middle of the year,” they said. Russia tiesChina also announced Friday its trade with Russia hit a new record high in 2022. In November, Russia surpassed Saudi Arabia to become China’s top crude oil supplier, according to customs data released last month.

☆ Putin is sending a warship into the Atlantic armed with new hypersonic cruise missiles
▼ + stars: | 2023-01-04 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Russia is sending a warship armed with hypersonic missiles on a deployment that will take it into the Atlantic Ocean. Putin has boasted that the new Zircon hypersonic missile is unrivalled. Xinhua/ via Getty ImagesThe Admiral Gorshkov is setting sail armed with Zircon, sometimes spelled Tsirkon, hypersonic missiles — a relatively new weapon in Moscow's arsenal. Speaking Wednesday, Putin said the Zircon missile has "no analogues in any country in the world." Hypersonic missiles are highly maneuverable and fast, and they can fly along unpredictable flight paths, thus creating headaches for traditional air defenses.

☆ China's home prices fell at an accelerating rate in December, survey shows
▼ + stars: | 2023-01-01 | by ( ) www.cnbc.com time to read: +2 min

Home prices in 100 cities fell for the sixth month in a row in December, according to a private Chinese survey. China's home prices fell at a faster pace in December, according to a private survey on Sunday, reflecting persistently weak demand amid rising Covid-19 cases despite a slew of support measures. China's property market crisis worsened this summer, with official data showing home prices, sales and investment all falling in recent months, adding pressure on the faltering economy. Among the 100 cities, 68 cities posted a fall in monthly prices, compared with 57 in November, the survey showed. But the virus is now spreading largely unchecked and likely infecting millions of people a day, according to some international health experts.

☆ China censors COVID-related content online as New Year's Eve prompts reflection by some
▼ + stars: | 2022-12-31 | by ( Eduardo Baptista | ) www.reuters.com time to read: +5 min

BEIJING, Dec 31 (Reuters) - New Year's Eve in China prompted an outpouring of reflection online, some of it critical, about the strict zero-COVID policy the country adhered to for almost three years. One Weibo hashtag about the video garnered almost 4 million hits before it disappeared from platforms around noon on Saturday. China has massively reduced its reporting of nationwide figures on COVID-19 infections. Cumulative infections in China likely reached 18.6 million in December, UK-based health data firm Airfinity estimated on Thursday. The infections have prompted international concern, particularly regarding the possibility of a new, stronger variant emerging out of China.

☆ Oil prices ease, China Covid spike hurts demand outlook
▼ + stars: | 2022-12-29 | by ( ) www.cnbc.com time to read: +2 min

Oil prices ticked down on Thursday as surging Covid cases in China dimmed hopes of a recovery in fuel demand in the world's second-biggest oil consumer. Brent futures for February delivery fell 42 cents, or 0.5%, to $82.84 a barrel, by 0123 GMT, while U.S. crude fell 50 cents, or 0.6%, to $78.46 per barrel. U.S. crude oil inventories fell less than expected, by about 1.3 million barrels, in the week ended Dec. 23, according to market sources citing American Petroleum Institute figures. Also weighing on prices, pipeline operator TC Energy said it was working to restart the portion of the Keystone pipeline that was forced shut after a leak earlier this month. Germany said the ban has "no practical significance" as the country has been working since spring to replace Russian oil supplies and ensure security of supply.

[1/3] Travellers stand by their luggage at Beijing Capital International Airport, amid the coronavirus disease (COVID-19) outbreak in Beijing, China December 27, 2022. International health experts estimate millions of daily infections and predict at least one million COVID deaths in China next year. Data from travel platform Ctrip showed that within half an hour of the news, searches for popular cross-border destinations on had increased 10-fold. "International travel ... will likely to surge, yet it may take many more months before volumes return to the pre-pandemic level," said Dan Wang, Chief Economist, Hang Seng Bank China. "COVID is still spreading in most parts of China, greatly disrupting the normal work schedule.

[1/3] An empty road is pictured at Shanghai Central Business District (CBD) as coronavirus disease (COVID-19) outbreaks continue in Shanghai, China, December 23, 2022. Subway trains in Beijing and Shanghai were packed, while some major traffic arteries in the two cities jammed with slow-moving cars on Monday as residents commuted to work. An annual Christmas market held at the Bund, a commercial area in Shanghai, was also crowded over the weekend. Crowds thronged the winter festive season at Shanghai Disneyland and Beijing's Universal Studios on Sunday, queuing up for rides in Christmas-themed outfits. The city of Qingdao, in the eastern Shandong province, has estimated that up to 530,000 residents were being infected each day.

HONG KONG, Nov 28 (Reuters Breakingviews) - Protests across China underscore a rising fear among people that President Xi Jinping’s stringent pandemic restrictions may be here to stay. Still, new daily cases hit over 40,000 on Nov. 27. Cities accounting for 65% of the country's GDP are under some sort of lockdown as of Friday, per Goldman Sachs analysts. Any end to the near-daily mandatory Covid tests and strict quarantine rules will be bumpy due to a huge unvaccinated population. As of November, about 27 million citizens aged 60 and above have not been jabbed against Covid, Breakingviews calculated from official data, and another 36 million elderly people have yet to receive their second dose.

☆ China Nov aluminium imports fall amid rising domestic supply
▼ + stars: | 2022-12-18 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

The latest November output number showed a ninth consecutive increase to 3.41 million tonnes. For the first 11 months of the year, the world’s top aluminium maker produced 36.77 million tonnes, up 3.9% from the corresponding period in 2021. Total imports in the first 11 months were 2.13 million tonnes, down 28.2% from the corresponding period last year. Imports of bauxite, the main source of aluminium ore, came in at 11.79 million tonnes last month. That was up 31.3% from October’s 8.98 million tonnes and up 53.6% from 7.7 million in November last year.

☆ As China seeks to live with the virus, COVID-control industries face decline
▼ + stars: | 2022-12-16 | by ( Eduardo Baptista | ) www.reuters.com time to read: +4 min

[1/2] Workers in protective suits wait for people at a nucleic acid testing site, as the coronavirus disease (COVID-19) outbreak continues, in Shanghai, China, December 9, 2022. A day later though, the 43-year-old lost her job as one of the city's many hazmat-suited COVID swab testers. The industries had become big business over the course of the pandemic and are huge employers even if precise statistics are hard to come by. It remains to be seen just how painful China's dismantling of its COVID-control infrastructure will be for companies and their staff. ($1 = 6.9605 Chinese yuan)Reporting by Eduardo Baptista; Editing by Brenda Goh and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

☆ Chinese farmers let cabbages rot as COVID curbs disrupt sales
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +4 min

The situation is exacerbated by a fragmented supply chain, where small farmers sell to middlemen who purchase for large wholesale markets in cities. Cui typically sends up to 20 large trucks of cauliflower, cabbage, and lettuce to markets daily in this season. Henan produced 76 million tonnes of vegetables last year, or about 10% of the nation's supply, according to the National Bureau of Statistics. The Ministry of Agriculture and Rural Affairs said on Tuesday it had launched an initiative to sell Henan vegetables at large wholesale markets, selling 4,677 tonnes last week. It also set up a hotline to connect farmers with sellers, and said it would find cold storage facilities to stock winter vegetables.

☆ ‘White paper’ protests: China’s top stationery supplier says it’s still selling A4 sheets
▼ + stars: | 2022-11-29 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN Business —The rare protests that spread across China over the weekend often featured demonstrators holding pieces of blank white paper, a phenomenon that has caused problems for the country’s top stationery chain. A4 refers to a standard paper size commonly used in countries outside of the United States and Canada. After M&G issued its filing, some social media users said they weren’t able to order A4 white paper sheets from the company’s online stores. Following the stock exchange filing, shares in M&G Stationery clawed back some losses, but were still down 1% at Monday’s close. ‘White paper’ protestsThe protests were triggered by a deadly fire last Thursday in Urumqi, the capital of the far western region of Xinjiang.

☆ China’s ‘white paper’ protests cause headaches for country’s top stationery supplier
▼ + stars: | 2022-11-29 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN Business —The rare protests that spread across China over the weekend often featured demonstrators holding pieces of blank white paper, a phenomenon that has caused problems for the country’s top stationery chain. M&G Stationery is based in Shanghai and sells its products in over 50 countries and regions around the world, according to the company’s website. After M&G issued its filing, some social media users said they weren’t able to order A4 white paper sheets from the company’s online stores. Following the stock exchange filing, shares in M&G Stationery clawed back some losses, but was still down 1% by Monday’s close. ‘White paper’ protestsThe protests were triggered by a deadly fire last Thursday in Urumqi, the capital of the far western region of Xinjiang.

☆ China's booming electric-car industry could transform its military's submarine fleet
▼ + stars: | 2022-10-31 | by ( Stephen Chen | South China Morning Post | ) www.businessinsider.com time to read: +6 min

Solutions for problems with the batteries have been found through work in the booming electric car market, their study says. China has the world's largest conventional submarine fleet, with an estimated 60 to 70 vessels. The main purpose of China's conventional submarine fleet is to protect its coastal areas and strategic waters including the Taiwan Strait and the South China Sea. JMSDF/TwitterThe booming electric car market has also brought changes in the defence industry. Germany and France have also developed prototype lithium batteries for submarine use with plans for military service in the near future.

☆ Former U.S. military pilot who worked in China arrested in Australia
▼ + stars: | 2022-10-27 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

A former U.S. military pilot and flight instructor who ran an aviation consultancy in China is in custody in Australia awaiting an extradition request from his homeland on an undisclosed charge, officials said Wednesday. Australian Federal Police arrested him that day “pursuant to a request from the United States,” a police statement said. His move followed a report that up to 30 former British military pilots had been hired to train members of China’s People’s Liberation Army. He became an AV-8B Harrier fighter pilot and an instructor pilot during his service. It is not clear whether he continues to live in China or what he was doing in Orange when he was arrested.

☆ China's diesel fuel exports more than doubled in September
▼ + stars: | 2022-10-24 | by ( Dominique Patton | Chen Aizhu | ) www.reuters.com time to read: +3 min

REUTERS/Jason LeeExports of diesel fuel last month more than doubled from a year earlier to 1.73 million tonnes, the highest monthly rate since July 2021, according to data from the General Administration of Customs. Exports of aviation fuel, including refuelling at Chinese airports for airlines plying international routes, jumped by 38.6% from a year earlier to 1.23 million tonnes last month. China had maintained broad curbs on fuel exports this year, resulting in total fuel exports in the first nine months of 2022 falling 28% from a year earlier. But in an about-turn in fuel trade policy, Beijing in late September released an additional large batch of 15 million tonnes of export quotas, including 13.25 million tonnes for gasoline, diesel and jet fuel, with the remainder for marine fuel. Table below shows trade details, volumes in million tonnes.

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