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A DJI Inspire 1 Pro drone is flown during a demonstration at the SZ DJI Technology Co. headquarters in Shenzhen, China, on Wednesday, April 20, 2016. China has unveiled a set of export control regulations for so-called dual-use items, which refer to goods or technologies that can be used for civilian as well as military purposes, ahead of President Xi Jinping's trip to Russia. The regulations come amid intensified U.S. sanctions targeting Chinese companies which the U.S. deems have been supplying dual-use goods, such as drones, to aid Russia's war effort in Ukraine. China has attempted to show that "it is following similar norms as other nations in terms of how it regulates trade in dual-use goods," he added. Alicia Garcia-Herrero, chief economist for Asia-Pacific at Natixis, however, suggested that Russia will likely be exempted from the possible export controls.
Persons: Xi, Mao Ning, Benjamin Cavender, Alicia Garcia, Herrero, Alex Capri Organizations: SZ, Technology, State, China Market Research Group, National University of Singapore Locations: Shenzhen, China, Russia, Ukraine, Russian, Kazan, Washington, Asia, Natixis
China's 'zero-COVID' policy – including stringent lockdowns, travel restrictions and mass testing - has taken a heavy toll on the country's economy. The government's crackdown on big technology companies has also had an outsized effect on the young workforce. Chinese households overall added 10.8 trillion yuan ($1.54 trillion) in new bank savings in the first eight months of the year, up from 6.4 trillion yuan in the same period last year. China is the only leading economy that cut interest rates this year, in an effort to spur growth. Fu said she switched her makeup powder brand from Givenchy to a Chinese brand called Florasis, which is about 60% cheaper.
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