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☆ Intel is a security risk for China, says influential industry group
▼ + stars: | 2024-10-16 | by ( ) edition.cnn.com time to read: +3 min

Beijing Reuters —Intel products sold in China should be subject to a security review, the Cybersecurity Association of China (CSAC) said on Wednesday, alleging the US chipmaker has “constantly harmed” the country’s national security and interests. “It is recommended that a network security review is initiated on the products Intel sells in China, so as to effectively safeguard China’s national security and the legitimate rights and interests of Chinese consumers,” CSAC said. Last year, CAC barred domestic operators of key infrastructure from buying products made by US memory chipmaker Micron Technology Inc (MU) after deeming the company’s products as having failed its network security review. A similar security review on Intel products could negatively impact the company’s revenues, over a quarter of which came from China last year. “This poses a great security threat to the critical information infrastructures of countries all over the world, including China … the use of Intel products poses a serious risk to national security,” CSAC said.

Persons: ” CSAC, ”, Dan Coatsworth, AJ Bell Organizations: Beijing Reuters, Intel, Cybersecurity Association of China, Cyberspace Administration of China, CAC, Micron Technology Inc, Washington, US National Security Agency, NSA, Nvidia Locations: Beijing, China

☆ China expects air travel to hit a record in 2024
▼ + stars: | 2024-08-14 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +1 min

China is expected to see a record-level of passenger air travel in 2024, according to the Civil Aviation Administration of China. China is expecting air passenger travel to hit a record in 2024, bouncing past pre-pandemic levels. In the first half of this year, total passenger trips rose nine percent from the same period in 2019, the State Council added, signaling that China's air travel sector has rebounded from the pandemic. The country's projection for 2024 comes in higher than the 619.6 million air passenger trips seen in 2023, according to data released in June by Chinese officials. Meanwhile, the broader Asia-Pacific region's travel sector has seen growth this year thanks to Chinese tourists.

Persons: Zhiyong Organizations: Civil Aviation Administration of, Civil Aviation Administration, Asia Pacific Summit for Aviation Safety, State, Council, Paris Olympic Games Locations: China, Civil Aviation Administration of China, Japan, South Korea, Singapore, Europe, Asia, Pacific

It’s hard to be anonymous online in China. Websites and apps must verify users with their phone numbers, which are tied to personal identification numbers that all adults are assigned. Now it could get more difficult under a proposal by China’s internet regulators: The government wants to take over the job of verification from the companies and give people a single ID to use across the internet. The Ministry of Public Security and the Cyberspace Administration of China say the proposal is meant to protect privacy and prevent online fraud. A national internet ID would reduce “the excessive collection and retention of citizens’ personal information by internet platforms on the grounds of implementing real-name registration,” the regulators said.

Organizations: of Public Security, Cyberspace Administration, China Locations: China

☆ Socialist AI: Chinese regulators are reviewing GenAI models for 'core socialist values,' FT reports
▼ + stars: | 2024-07-18 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

AI companies in China are undergoing a government review of their large language models, aimed at ensuring they "embody core socialist values," according to a report by the Financial Times. The review is being carried out by the Cyberspace Administration of China (CAC), the government's chief internet regulator, and will cover players across the spectrum, from tech giants like ByteDance and Alibaba to small startups. AI models will be tested by local CAC officials for their responses to a variety of questions, many related to politically sensitive topics and Chinese President Xi Jinping, FT said. An anonymous source from a Hangzhou-based AI company who spoke with the FT said that their model didn't pass the first round of testing for unclear reasons. They only passed the second time after months of "guessing and adjusting," they said in the report.

Persons: Xi Jinping Organizations: Financial Times, Cyberspace Administration of China, CAC, U.S Locations: China, Hangzhou, Beijing

☆ The stock market is having its best election year ever
▼ + stars: | 2024-06-24 | by ( Nicole Goodkind | Matt Egan | ) edition.cnn.com time to read: +9 min

The S&P 500 alone has generated an average return of 7% during presidential election years since 1952, according to LPL Financial. If you limit that to election years in which the incumbent president is running for reelection, the average jumps to 12.2%. Yes, but: Market volatility in an election year tends to pick up in October and there are many months left in this cycle with potential surprises to come. “An autumn pullback fits well time wise with potential downside earnings revisions, make-or-break decision time for the Fed, and election uncertainty. The first round of the French election will be held on June 30, with a second round on July 7.

Persons: Goldman Sachs —, Ed Clissold, Ned Davis, they’re, It’s, Goldman Sachs ’ Scott Rubner, “, ”, Mark Hackett, Scott Chronert, Goldman Sachs, Joe Biden, Donald Trump, Jim Reid, There’s, Emmanuel Macron, Katie Nixon, Chris Isidore ., they’ve, Samantha Murphy Kelly, ChatGPT —, Siri —, OpenAI, Siri, ChatGPT, hasn’t, — Organizations: London CNN — Traders, Investors, White, Ned, Ned Davis Research, Nasdaq, Citigroup, Goldman, Barclays, Deutsche Bank, UBS, Deutsche, Fed, United, Labour Party, Renaissance, Northern Trust Wealth Management, Alaska Airlines, Alaska —, Southwest —, Southwest, Railway Labor, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, Wall, IDC Locations: United States, France, “, Alaska, China

☆ America’s housing crisis continues to worsen
▼ + stars: | 2024-06-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington CNN —Homeowners in America aren’t the only ones struggling with an unaffordable housing market. A report from Harvard University’s Joint Center for Housing Studies released last week showed that both homeowners and renters in recent years have become increasingly burdened by climbing housing costs. That’s all part of a broader struggle in the US housing market, and recent data shows that it hasn’t gotten any better. But there’s a problem: ChatGPT — soon to be integrated into Siri — is banned in China, reports my colleague Samantha Murphy Kelly. The Chicago Fed releases its National Activity Index for May.

Persons: ” Lael Brainard, ”, “, Brainard, Biden, ” Brainard, ChatGPT —, Siri —, Samantha Murphy Kelly, OpenAI, Siri, ChatGPT, Read, Christopher Waller, Lisa Cook, Michelle Bowman, General Mills, Levi Strauss, Tom Barkin Organizations: CNN Business, Bell, Washington CNN — Homeowners, America aren’t, Harvard University’s, for Housing Studies, Harvard, “, White, Economic Council, Urban Institute, Administration, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, FedEx, Chicago Fed, Global, Index, Board, Micron, General, US Commerce Department, Federal Reserve, Nike, McCormick, Walgreens, US Labor Department, National Association of Realtors, Richmond Fed, University of Michigan Locations: Washington, America, Congress, China

☆ Apple’s new China problem: ChatGPT is banned there
▼ + stars: | 2024-06-21 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +4 min

CNN —Apple is banking on its upcoming AI features to boost iPhone sales especially in China, where demand has been lagging. But there’s a problem: ChatGPT — soon to be integrated into Siri — is banned in China. But China is one of the first countries in the world to regulate the generative AI technology that powers these popular services. Resurgent competitorsMeanwhile, Chinese smartphone brand Huawei’s smartphone sales growth was 70% in the first quarter, according to Counterpoint Research. In other parts of the world, Samsung uses its own propriety AI technology, along with Google’s (GOOGL) AI model Gemini, which is also banned in China.

Persons: ChatGPT —, Siri —, OpenAI, Siri, ChatGPT, hasn’t, —, ”, Nabila Popal, ” Popal, what’s, Reece Hayden, Apple wouldn’t, Jeff Fieldhack, they’d Organizations: CNN, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, Wall, IDC, Research, IDC Research, ABI Research, China, Baidu Locations: China

☆ China, Xi Jinping's Plan for AI Will Wreak Havoc on the World Economy
▼ + stars: | 2024-06-02 | by ( Linette Lopez | ) www.businessinsider.com time to read: +18 min

According to the CCP's plan, by 2020, China was supposed to have "achieved iconic advances in AI models and methods, core devices, high-end equipment, and foundational software." Censorship requirements may slow China's AI development and limit the commercialization of domestic models, but they will not stop Beijing from benefiting from AI where it sees fit. We're not seeing a huge gap between the models Chinese companies have been able to roll out. The current price war is a race to the bottom, similar to what we've seen in the Chinese technology space before. A race to the bottom may simply beggar China's AI ecosystem.

Persons: Xi Jinping, China doesn't, there's, Beijing's, Reva Goujon, We're, It's, ChatGPT, Xie Huanchi, couldn't, you'll, —, Kenneth DeWoskin, it's, Matt Sheehan, they're, chatbot, Sheehan, Ernie Bot, There's, Alibaba, ByteDance's, Paul Triolo, Albright, we've, haven't, DeWoskin, Sam Altman, Elon Musk Organizations: Chinese Communist Party, CCP, Intelligence, Cyberspace Administration, Getty, Freedom, University of Michigan, Deloitte, CAC, Carnegie Endowment, International Peace, Baidu, Bloomberg, Companies, Brookings Institution, Beijing, The Commerce Department Locations: China, Beijing, China's, Hong Kong, Xinhua, , Washington, Brussels, Berlin, Taiwan, US, Xinjiang

☆ Wealthy Chinese influencers are being banned from social media for flaunting lavish lifestyles
▼ + stars: | 2024-05-27 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

China is banning social media influencers for flaunting lavish lifestyles and promoting materialism. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFlaunting a lavish lifestyle to promote materialism can get you thrown off social media in China. Since April, China has been busy cracking down on influencers who promote ostentatious lifestyles as a means of gaining profit. China's internet regulator, Cyberspace Administration of China, launched a campaign last month to discourage social media users from "deliberately showcasing a lavish lifestyle built on wealth," the Financial Times reported.

Persons: China's Kim Kardashian, — Organizations: Cyberspace Administration of China, Financial Times, Service, Cyberspace Administration, Business Locations: China

☆ Boeing expects a 2024 cash burn, slow recovery of airplane deliveries amid crisis, CFO says
▼ + stars: | 2024-05-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

A month ago, West forecast Boeing would generate free cash flow "in the low single-digit billions." The company's aircraft deliveries in the first quarter fell to the lowest level since the pandemic. Other problems have also sprung up, including a pause on deliveries of 737 Max planes to China to review batteries for the cockpit voice recorder. Parts shortages have also slowed deliveries of 787 Dreamliners, Boeing has said. American Airlines last month said it would cut some international flights because of delays of the wide-body jets.

Persons: Brian West, West, Dave Calhoun, Max Organizations: American Airlines Boeing, Reagan National, FAA, Boeing, Wolfe Research, Federal Aviation Administration, Civil Aviation Administration, China, American Airlines, United Airlines, Southwest Airlines Locations: Los Angeles, United States, Washington , U.S, China

☆ Morgan Stanley says this flying car stock can surge nearly 60%
▼ + stars: | 2024-05-06 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Morgan Stanley says EHang , a maker of flying cars, is poised to be a leading player as eVTOL , or electric vertical take-off and landing vehicles, become more commercial. The Wall Street investment bank began research coverage of the EHang stock with an overweight rating and a $27.50 per share price target, implying more than 58% upside from Friday's $17.38 close. EHang stock has risen roughly 3.4% in 2024 through Friday, and is up almost another 6% in early trading Monday. EH YTD mountain EHang stock. "This represents a substantial emerging market, and EHang (EH), as a market bellwether with first-mover advantage, is poised to capture significant growth potential, in our view," the analyst said.

Persons: Morgan Stanley, EHang, Cindy Huang, Huang, — CNBC's Michael Bloom Organizations: Civil Aviation Administration, China Locations: China

☆ China is getting a head start on the flying car industry: report
▼ + stars: | 2024-04-22 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +2 min

China is pulling ahead in the flying car industry. AdvertisementChina is leading the pack as the flying car industry tries to take off. Kellen Xie, the vice president of Chinese eVTOL company AutoFlight Group, told the Financial Times that the Civil Aviation Administration of China (CAAC) has been "quite supportive" of the growing industry. Related storiesXie told FT that CAAC regulators "work longer hours" and "are determined to actually speed up the process of bringing this new technology into reality." A month later, California-based startup Aska became the second eVTOL company to earn FAA certification, but Aska's prototype is more like an aircraft than a car.

Persons: AutoFlight, —, Kellen Xie, Xie Organizations: Service, AutoFlight, Financial Times, Civil Aviation Administration of China, Federal Aviation Administration, Alef Aeronautics, FAA Locations: China, Europe, California

☆ Apple pulls Meta's WhatsApp, Threads from China App Store
▼ + stars: | 2024-04-19 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

Apple on Friday said it pulled several messaging apps like Meta 's WhatsApp and Threads from the App Store in China after the nation's government ordered the removal, citing security concerns. In recent days, Congress has been looking to fast-track legislation to push TikTok's Chinese parent company, ByteDance, to divest the social media app. "We are obligated to follow the laws in the countries where we operate, even when we disagree," Apple said in a statement. "The Cyberspace Administration of China ordered the removal of these apps from the China storefront based on their national security concerns." Other messaging platforms like Signal and Telegram were also removed from China's App Store.

Persons: Tim Cook, Joe Biden, Apple Organizations: Apple, Economic Cooperation, APEC, U.S, Administration of China Locations: Asia, San Francisco , California, China

☆ Apple deletes WhatsApp, Threads from China app store on orders from Beijing
▼ + stars: | 2024-04-19 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Apple has removed WhatAapp and Threads from its app store in China, following an order from the country’s internet watchdog which cited national security concerns. “The Cyberspace Administration of China ordered the removal of these apps from the China storefront based on their national security concerns. Other popular Western social media apps including X (formerly Twitter), Facebook, Instagram and Messenger are still available on Apple’s China app store, according to a check by CNN. Chinese consumers who once would have considered Apple are now turning to the country’s national brands. Its CEO Tim Cook visited Shanghai just last month to open the second biggest Apple store in the world.

Persons: Hong Kong CNN —, Duncan Clark, ”, VPNs, Tim Cook, — Hassan Tayir Organizations: Hong Kong CNN, Hong Kong CNN — Apple, Apple, CNN, Administration of China, Meta, BDA China, Facebook, IDC, Huawei Locations: China, Hong Kong, Beijing, United States, Shanghai

☆ Inside the world of flying cars, or eVTOLs, which are moving closer to reality
▼ + stars: | 2024-04-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +6 min

Source: Alef AeronauticsWhat if flying around in an electric vehicle is a key part of the way you travel in the future? EVTOLs, or electric vertical take-off and landing vehicles, popularly known as flying cars or air taxis, are being developed by firms in the U.S. to Europe and Asia. Four of the most common eVTOLsAn eVTOL aircraft can take off and land vertically. From the technologies they use to take off and land to the fact they're electric, eVTOLs are trying to distinguish themselves from helicopters. While some wealthy individuals may own their electric aircraft, they will more likely be operated in fleets by an operator, as is the case with airlines.

Persons: Lilium, Jim Dukhovny, Tim Draper, EHang Organizations: Aeronautics, JPMorgan, CNBC Tech, Aviation, European Union Aviation Safety Agency, Federal Aviation Administration, Civil Aviation Administration of China, eVTOLs, Alef Aeronautics Alef Aeronautics, Alef Aeronautics, SpaceX, Theranos Locations: U.S, Europe, Asia, —, eVTOLs, United States, China, Munich, Germany, Spain

☆ Take a ride inside Ehang's fully autonomous, two-seater air taxi
▼ + stars: | 2024-04-18 | by ( Arjun Kharpal | Cristy Garratt | ) www.cnbc.com time to read: +1 min

About an hour's drive from the company's headquarters in Guangzhou, China, sits a test site for Ehang's autonomous aerial vehicles. Perched on the tarmac during CNBC's visit was the company's fully autonomous, two-seater air taxi. Its scheduling system runs on the server, so its route is automatically loaded, and then it carries out a completely automated route flight." Because of this other aircraft, we also need to build a vertical take-off and landing flight site between cities," Wang said. Take a tour of the EH216 and watch its test flight by clicking the video above.

Persons: Dong Wang, Ehang, AAV, Wang Organizations: CNBC Tech, Civil Aviation Administration, Federal Aviation Administration Locations: Guangzhou, China, United States

☆ The world is scarred from China shock 1.0. They're not about to let 2.0 happen so easily.
▼ + stars: | 2024-04-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +8 min

This could create a "China shock 2.0" that impacts other economies around the world. AdvertisementThis is just one of the industries the world is bracing for in the next phase of the "China shock." What happened in China shock 1.0? How Beijing could be creating China shock 2.0Now, China is targeting three new strategic industries that the rest of the world is also eyeing. What are the US and the rest of the world doing about China shock 2.0?

Persons: —, Xi, David H, Autor, David Dorn, Gordon H, Hanson, Rajiv Biswas, who's, Biswas, keener, Janet Yellen, Yellen, it's, Wang Wenbin, Wang, Nomura Organizations: Service, Beijing, OECD, European Union, Department of Energy, Treasury, European Commission, EU, Act, Wall Street, Bloomberg Locations: China, EU, Beijing, Communist China, Georgia, Southeast Asia, Africa, Latin America

☆ Flying cars — or eVTOLs — are becoming reality. Would you ride in one?
▼ + stars: | 2024-04-01 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +36 min

They are flying cars, they're flying cars,Tom Chitty: These vehicles aren't necessarily actually cars with wheels, either, because I know that you've done you've got a program coming up soon about eVTOL. And the idea is there's going to be a fleet of these run by an operator. You've alluded to this feature program we've got coming out looking at the future of these, these flying cars, basically in these eVTOLs. And also, we can't finish this episode about flying cars and eVTOLs without talking about Chitty Chitty Bang Bang, the OG. Yeah, no, that's, that's very surprising.

Persons: Tom Chitty, Arjun Kharpal, who's, I've, we've, We've, I'm, they'd, I'd, there's, Arjun, that's, we're, you've, there'll, they're, You've, Kharpal, it's, you'll, They've, Morgan Stanley, someone's, What's, they've, They're, Big Ben, Chitty Chitty Bang Bang, Chitty Bang Bang, Tom, We'll Organizations: JPMorgan, CNBC, Mar, Airbus, Archer Aviation, Joby, Infrastructure, Boeing, Heathrow Airport, Civil Aviation Administration, U.S . Federal Aviation Administration, FAA, Autonomy, London, Transport Locations: Spain, China, Europe, Munich, Germany, beyondthevalley@cnbc.com, London, Chinese, Guangzhou, Birmingham, U.S, Manchester, it's, eVTOLs, Battersea, Heathrow

☆ China's Xi meets U.S. executives as businesses navigate bilateral tensions
▼ + stars: | 2024-03-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +8 min

The forum this year coincided with other efforts to attract foreign business. However, a combination of geopolitical tensions, regulatory uncertainty and slower economic growth have made it more challenging for foreign businesses in China. ... foreign companies share the same lack of confidence and worries about an uncertain future that is felt amongst much of China's domestic industry. Looking for economic clarityFor businesses considering China investment plans, the country's near-term growth outlook is another factor. He emphasized China's large market, industrial supply chain, and pointed out how China has worked on issues such as data exports and equal market treatment for foreign businesses.

Persons: Tim Cook, Management Dean Bai Chong, Xi Jinping, Stephen Schwarzman, Cristiano Amon, Mark Carney, Rajesh Subramaniam, Joe Biden, Carlos Gutierrez, Sean Stein, Gutierrez, Biden, Scott Kennedy, Peter Bachmann, Bachmann, Kennedy, Stephen S, Roach, Yale Law School's Paul Tsai, he's, China's, Han Zheng, Amin H, Nasser Organizations: Apple, China Development Forum, Tsinghua University School of Economics, Management, China News Service, Getty, U.S . Blackstone, Qualcomm, Bloomberg, FedEx, China, Cyberspace Administration, U.S, American Chamber of Commerce, of Commerce, Scott, Scott Kennedy Center for Strategic, Studies, China Centre, University of Applied Sciences, Arts Northwestern Switzerland, Center for Strategic, International Studies, Yale Law, Yale Law School's Paul Tsai China, Communist Party, Invest, CNBC, Aramco Locations: China, BEIJING, U.S, San Francisco, Beijing, Shanghai, Washington ,, Saudi

☆ A deadly Boeing 737 crash in China is still shrouded in mystery as the government says it found nothing abnormal before the plane nose-dived
▼ + stars: | 2024-03-26 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Read previewChinese authorities say they've yet to identify the cause of a Boeing 737 crash that killed 132 people two years ago, reporting that investigators found nothing abnormal occurring before the fatal incident. The report, published Wednesday by the Civil Aviation Administration of China, covers the government probe into the crash of flight MU5735, which was operated by China Eastern Airlines. AdvertisementBloomberg reported shortly after the crash, citing flight tracker data, that the plane hit the ground while traveling near the speed of sound. A rescuer ties a safety rope to a tree at the plane crash site in Tengxian County, south China's Guangxi Zhuang Autonomous Region, March 26, 2022. When asked to comment on the report, a Boeing spokesperson referred BI to the Civil Aviation Administration of China.

Persons: —, MU5735, Lu Boan Organizations: Service, Boeing, Civil Aviation Administration, China Eastern Airlines, Business, Staff, Street, Bloomberg, Getty Images, Civil Aviation Administration of China Locations: China, Guangxi Zhuang, Teng County, Tengxian County, Guangxi Zhuang Autonomous Region, Xinhua, Kunming, Guangzhou, Weibo

☆ TikTok: Is it really Chinese?
▼ + stars: | 2024-03-18 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Is TikTok Chinese? In March 2023, CEO Chew was repeatedly pressed by US lawmakers on whether TikTok was Chinese. According to TikTok’s own website, its subsidiaries around the world are all structured under Bytedance Ltd.Is ByteDance Chinese? At last year’s congressional hearing, Chew didn’t directly answer any questions about whether ByteDance is a Chinese company either. That means the Chinese government now owns 1% of Beijing Douyin Information Service, which is the domestic Chinese unit of Bytedance.

Persons: TikTok, Shou Chew, Trump, Chew, Jose Luis Magana, Musical.ly, TikTok’s, ByteDance, Zhang Yiming, Liang Rubo, Zhang, Liang, Jinri, Chew didn’t, Shannon Stapleton, Zhang Fuping, Xi Jinping, Wu Shugang, Shu Yuting Organizations: Hong Kong CNN, TikTok LLC, TikTok Ltd, ByteDance Ltd, Bytedance Ltd, Tianjin’s Nankai University, ByteDance, Carlyle Group, General Atlantic, Susquehanna International Group, Reuters, Communist, Cyberspace Administration, Beijing Douyin Information Service, Chinese Communist Party, National Intelligence Law, Commerce Ministry Locations: China, Hong Kong, United States, Beijing, California, Los Angles, Singapore, Delaware, Culver City , California, Cayman Islands, Shanghai, Chinese, TikTok

☆ China calls on foreign businesses to share their problems as investment slumps
▼ + stars: | 2024-03-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

While the Commerce Ministry meeting did not reveal much new progress on the 24 measures to support foreign business that were announced last summer, attendees said they were able to share specific challenges about doing business in China. The ministry said representatives from more than 60 foreign businesses and 9 associations attended Wednesday's roundtable. Foreign direct investment into China has fallen to its lowest level in three years, according to official data, amid geopolitical tensions and slowing growth in the country. Hart said that it's hard for companies not yet in China to complete due diligence and approve new investments. Biden, who faces re-election this fall, has emphasized the need to compete with China while finding areas of cooperation.

Persons: Aly Song, MofCom, Jens Eskelund, Eskelund, Michael Hart, Hart, Joe Biden, Xi Jinping, Biden Organizations: Chinese Communist Party, Reuters, Reuters BEIJING — China's Ministry of Commerce, Commerce Ministry, EU Chamber of Commerce, Cyberspace Administration of, China's Ministry of Commerce, American Chamber of Commerce, U.S, U.S . Transportation Department Locations: China, U.S, Yiwu, Zhejiang province, Reuters BEIJING, Beijing, Cyberspace Administration of China, San Francisco

☆ US allows China to boost passenger flights to 50 per week as summer travel season nears
▼ + stars: | 2024-02-27 | by ( Laura He | ) edition.cnn.com time to read: +4 min

By February of that year, most American airlines had suspended flights to China due to fears about the coronavirus. In the next month, the CAAC slashed international flights to China, citing the need to curb imported Covid-19 cases. Despite the two sides amending their rules after negotiations, the number of flights between the United States and China still fell significantly during the pandemic. We look forward to once again welcoming Chinese group travel to the United States,” she said in a statement issued at the time. In June, Reuters reported that newly approved flights by Chinese airlines were indeed avoiding Russian airspace on their way to the United States.

Persons: Hong Kong CNN —, David McNew, Trump, Gina Raimondo, ”, Biden Organizations: Hong Kong CNN, US Department of Transportation, ” Citi, Civil Aviation Administration of China, Air China, LAX Tom, US, Reuters Locations: China, Hong Kong, Hong Kong CNN — Washington, United States, Los Angeles , California, Beijing, Washington, Russia, Ukraine

☆ China will showcase its domestic jetliner at the Singapore Airshow. Here's what else to expect
▼ + stars: | 2024-02-19 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A model of Comac's C919 aircraft at the Singapore Airshow on Feb. 6, 2018. SINGAPORE — China is gearing up to showcase its narrow-body passenger jet to a global audience for the first time at the Singapore Airshow. Touted as a competitor to Boeing's 737 and the Airbus 320, the Comac C919 is quickly turning out to be one of the most anticipated features at this year's event. "Flying for the first time at the Singapore Airshow, is the C919, a narrow-body airliner developed by Chinese aircraft manufacturer Comac," Singapore Airshow organizer and manager Experia Events said in a statement. The Singapore Airshow is a fantastic opportunity for Comac particularly given the current situation with Boeing," Brendan Sobie of Sobie Aviation told CNBC.

Persons: Experia, Lockheed Martin, Thales, Brendan Sobie, Sobie Organizations: Singapore, Singapore Airshow, Airbus, Commercial Aircraft Corporation of China, Civil Aviation Administration, China, Aerospace, Boeing, Lockheed, Dassault, SAAB, Leonardo, Sobie Aviation, CNBC Locations: SINGAPORE — China, Singapore, China

☆ Meta's continued rally could hinge on the fortunes of upstart retailers Temu and Shein
▼ + stars: | 2024-01-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +9 min

Temu is owned by PDD Holdings , a Chinese company that moved its principal office to Ireland last year. Meta is expected to report revenue growth of 22% for the quarter to $39.2 billion, according to analysts surveyed by LSEG, formerly Refinitiv. JMP analysts estimated that Temu and Shein spent roughly $600 million and $200 million, respectively, on Facebook and Instagram ads in the third quarter. In December, Temu sued Shein, alleging questionable business practices and a "mafia-style intimidation of suppliers," according to legal documents. Meta isn't the only U.S. internet company effected by the speedy growth from Temu and Shein.

Persons: Mark Zuckerberg, Jack Ma, Shu Zhang, Victor Lee, Lee, who's, Shein, Meta, Pavlo Gonchar, Temu, didn't, Susan Li, data.AI, It's, Chris Mack, Harding Loevner, they've, Mack, Shein confidentially, Mike Gallagher, Gallagher, Brian Wieser, Josh Silverman, Silverman Organizations: Alibaba, China Development Forum, Reuters, Facebook, Hasbro, Unified Commerce, Amazon, PDD Holdings, U.S, Mobile, Meta, LSEG, Getty, CNBC, Cyberspace Administration, China, Street Journal, Google Locations: Beijing, China, Ireland, Singapore, UKRAINE, U.S, United States, Wall, Asia, Pacific, Temu, Meta

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