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☆ China chip stocks are soaring as excitement grows for another round of stimulus from Beijing
▼ + stars: | 2024-10-07 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Chinese chip stocks gained $13 billion on Monday, led by a 22% rise in shares of SMIC. The gains come as traders expect Beijing to extend stimulus support to the semiconductor industry. AdvertisementChinese chip stocks soared Monday, fueled by hopes that Beijing's next round of stimulus will boost the country's semiconductor industry. The new round of stimulus could include support for its chip companies. China first announced its stimulus measures last month, pledging to rescue the economy from a struggling property sector and weak domestic demand.

Persons: —, Beijing's Organizations: Service, Semiconductor Manufacturing International Corp, CSI Locations: SMIC, Beijing, China, Hong Kong

☆ Opinion: China’s ‘monster’ ship is a sign of a much bigger problem
▼ + stars: | 2024-07-24 | by ( Opinion Richard Timme | ) edition.cnn.com time to read: +9 min

Editor’s Note: Rear Adm. Richard Timme retired from the US Coast Guard after 32 years of service. For the antithesis of this ethos, look directly at the China Coast Guard. It’s an homage, intended or not, to the nobility of purpose embodied in our coast guard. That is why I find the conduct of the China Coast Guard so jarring and disconcerting — such as attacking and destroying a Philippine resupply mission. Video Ad Feedback Shocking scenes as Filipino boats are targeted by the Chinese coast guard 03:04 - Source: CNNInstead of guarding, protecting, defending and saving, as a coast guard should do, the China Coast Guard is attacking, intimidating, violating and threatening its neighbors in the region.

Persons: Richard Timme, “ Gray, Adm, Samuel Paparo, Guard Cutter Healy, ’ EEZs, who’s Organizations: US Coast Guard, CNN, China Coast Guard, Guard, Navy, Mellon, Pacific, Center for Strategic, International Studies, CSIS, United Nations Convention, US Navy, Pacific Command, Arctic Council, Security, Polar, US, Coast Guard Locations: Philippine, China, Philippines, South, US, Richard Timme China, South China, People’s Republic, United States, Japan

☆ Top BofA auto analyst says Detroit automakers need to exit China as soon as possible
▼ + stars: | 2024-06-18 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – The traditional Detroit automakers – General Motors , Ford Motor and Stellantis – should exit the Chinese market "as soon as they possibly can," Bank of America's top automotive analyst said Tuesday. Murphy, who has previously asked General Motors about exiting the market, said the "D3" automakers need to focus on their core products and more profitable regions. It's a prospect that would have been unthinkable for the automakers, specifically GM, just a few years ago, but the rise of local Chinese automakers such as BYD and Geely has put growing pressure on the companies. While the Detroit automakers need to rethink the way their doing business in China, Murphy said it's slightly different for U.S. electric vehicle leader Tesla . Murphy said Tesla, like Chinese companies, has a roughly $17,000 cost advantage in EV components compared to the traditional Detroit automakers to assist it in the Chinese market, allowing it to have "more room to run."

Persons: John Murphy, Murphy, Geely, Joe Biden, it's, Tesla Organizations: Automobile Works, FAW, Haima, Co, Detroit, –, Motors, Ford Motor, Bank, BofA Securities, Automotive Press, GM, Ford Locations: China, Haikou, Hainan Province, DETROIT, Detroit

☆ China’s Chang’e-6 probe lifts off with samples from moon’s far side in historic first
▼ + stars: | 2024-06-04 | by ( Nectar Gan | Simone Mccarthy | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —China’s Chang’e-6 lunar probe departed from the far side of the moon on Tuesday, moving a step closer to completing an ambitious mission that underlines the country’s rise as a space superpower. Its return journey to Earth is estimated to take about three weeks, with a landing expected in China’s Inner Mongolia region around June 25. “The lunar surface is rich in basalt,” Zhou added. It marked the second time a mission has successfully reached the far side of the moon, after China first completed that historic feat in 2019 with its Chang’e-4 probe. Last year, India landed a spacecraft on the moon for the first time, while Russia’s first lunar landing mission in decades ended in failure when its Luna 25 probe crashed into the moon’s surface.

Persons: China’s, Bill Nelson, Nelson, –, “ zhong, CNSA, ”, Zhou Changyi, Zhou, James Head Organizations: Hong Kong CNN, Beijing, China National Space Administration, NASA, CNSA, Brown University, Luna Locations: Hong Kong, China, Mongolia, Aitken, India, Japan, Texas

☆ China’s Chang’e-6 probe successfully lands on far side of the moon
▼ + stars: | 2024-06-01 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s Chang’e-6 lunar lander successfully touched down on the far side of the moon Sunday morning Beijing time, in a significant step for the ambitious mission that could advance the country’s aspirations of putting astronauts on the moon. China’s most complex robotic lunar endeavor to date, the uncrewed mission aims to return samples to Earth from the moon’s far side for the first time. The landing marks the second time a mission has successfully reached the far side of the moon. The probe will spend two days on the far side of the moon, and 14 hours to collect moon soil samples, Xinhua reported. Last year, India landed a spacecraft on the moon for the first time, while Russia’s first lunar landing mission in decades ended in failure when its Luna 25 probe crashed into the moon’s surface.

Persons: China’s Organizations: Hong Kong CNN, China National Space Administration, Xinhua, Luna, NASA Locations: Hong Kong, Beijing, Aitken, China, United States, Mongolia, India, Japan, Texas

☆ What are Republican U.S. presidential candidates saying about the UAW strike?
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +5 min

Hakeem Jeffries, Democratic Minority Leader of the U.S. House of Representatives, walks the picket line with striking United Auto Workers members outside the Ford Motor Michigan Assembly Plant in Wayne, Michigan U.S., September 17, 2023. REMEMBER, BIDEN IS A CROOK WHO HAS BEEN PAID MILLIONS OF DOLLARS BY CHINA, & OTHERS. On Friday, he wrote: "The all Electric Car is a disaster for both the United Auto Workers and the American Consumer. If this happens, the United Auto workers will be wiped out, along with all other auto workers in the United States. So I understand the frustration, but I think union bosses may be directing that ire in the wrong direction when it belongs at the feet of our current government."

Persons: Hakeem Jeffries, Rebecca Cook, Joe Biden, DONALD TRUMP, CROOKED JOE, YOU'LL, BIDEN, I'm, Biden, Pence, VIVEK RAMASWAMY, NIKKI HALEY, emboldens, Haley, Richard Chang Organizations: Democratic, U.S . House, United Auto Workers, Ford Motor Michigan, Plant, Wayne , Michigan U.S, REUTERS, Labor, Detroit Three, General Motors, Ford, Republican, Democratic U.S, Electric, CHINA FIRST, TRUMP, YOUR, WHO, American Consumer, United Auto, Trump, CNN, South, United Nations, Fox News, TIM SCOTT The, UAW, Thomson Locations: Wayne , Michigan, China, CHINA, United States, Washington, South Carolina, TIM SCOTT The U.S

☆ Kia revealed yet another awesome-looking electric SUV — and it's headed to China first
▼ + stars: | 2023-08-25 | by ( Tim Levin | ) www.businessinsider.com time to read: +2 min

Kia unveiled its latest electric SUV. The Kia EV5. The Kia EV5. AdvertisementAdvertisementThe Kia EV5. The Kia EV5.

Persons: Kia, Tesla, Kia EV6, Kia Kia hasn't, hasn't Organizations: Kia, Hyundai Locations: China

Editor’s Note: A version of this story appears in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. The drill is the latest in a flurry of Chinese activity in the Middle East, traditionally seen as the US’ backyard. According to the Wall Street Journal, the US wants Saudi Arabia to distance itself economically and militarily from Beijing in return. Four of the top 10 importers of US arms are Gulf Arab states: Saudi Arabia, Qatar, Kuwait and the UAE. Some of these purchases were driven by US restrictions on selling arms to Gulf states under the Biden administration, according to Alhasan.

Persons: ” Hasan Alhasan, “, Barack Obama’s, ”, Mohammed Baharoon, John Calabrese, …, ” Calabrese, CNN’s Becky Anderson, Reema bint Bandar Al Saud, Washington, Biden, Alhasan, China’s, Xi Jinping, ” Yun Sun, ” Alhasan, ” Baharoon Organizations: UAE CNN, United Arab Emirates, American, Washington, UAE, Middle East, International Institute for Strategic Studies, CNN, Asia Experts, East ., US, Dubai Public Policy Research Center, Middle East Institute, Wall Street Journal, China Program, China, Stimson Center Locations: Abu Dhabi, UAE, United States, China, China’s, Xinjiang, Ukraine, Gulf, Asia, Saudi Arabia, Iran, Yemen, Washington, Dubai, Russia, Saudi, Riyadh, Israel, Beijing, Europe, Arab, Qatar, Kuwait, Sun, “

☆ Divisive China, Taiwan bids to join Pacific trade pact in focus at meet
▼ + stars: | 2023-07-14 | by ( Lucy Craymer | ) www.reuters.com time to read: +4 min

Britain will become the 12th member to join the pact that cuts trade barriers, as it looks to deepen ties in the Pacific. In support of its application, Britain has said that CPTPP countries will have a combined GDP of 11 trillion pounds ($13.6 trillion) once Britain joins, or 15% of global GDP. "There’s a large gap between the high standards and binding commitments that are demanded of CPTPP members, and where China is currently at," he added. The other countries' applications also provide opportunities. "After modernising the Canada-Ukraine FTA this year, Canada knows that Ukraine is capable of meeting the high standards of the CPTPP," she said.

Persons: Charles Finny, CPTPP, Chris Hipkins, Shu Jueting, Penny Wong, Aidan Arasasingham, Joanne Ou, Roy Lee, Mary Ng, Lucy Craymer, Ben Blanchard, Joe Cash, Praveen Menon, Muralikumar Organizations: WELLINGTON, Trans, Pacific, New Zealand, Reuters, Centre, Strategic, International Studies, Washington DC, Thomson Locations: Pacific, Auckland, China, Taiwan, New Zealand, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, Vietnam, Britain, Costa Rica, Uruguay, Ecuador, Ukraine, New, Beijing, Zealand, Jakarta, Taipei, CPTPP, Wellington

[1/4] An exterior view of the proposed site for the new China Embassy, near to Tower Bridge in London, Britain, June 23, 2023. That has led officials in Britain, which is trying to forge deeper economic ties post-Brexit, to fear it could also halt their own plans to rebuild its embassy in Beijing. Chinese officials told Reuters they suspected the British government had plotted to stop the embassy plans and orchestrated the local opposition. British officials, who declined to be identified, said they feared that London's plan to rebuild its embassy in Beijing would be affected. Residents say they are also worried about more local security issues.

Persons: Hannah McKay, Rishi Sunak, David Cameron, Xi Jinping, Michael Gove, Xi, Iain Duncan Smith, Dave Lake, Martin Quin Pollard, Kate Holton, Andrew Heavens Organizations: China Embassy, REUTERS, of, Reuters, British, Royal Mint, Conservative Party, Uyghur, Royal Mint Court Residents Association, Thomson Locations: London, Britain, Beijing London, of London, Beijing, China, Europe, Washington, United States, Hong Kong, Xinjiang, Sunak

☆ Most people's mental health has been resilient despite the pandemic, according to an analysis of 137 studies
▼ + stars: | 2023-03-16 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +2 min

A new study says that mental health generally did not worsen during the pandemic. "Rather than a mental health crisis, at a population level there has been a high level of resilience," they said. They found that most changes in mental health symptoms, which included symptoms of depression and anxiety, "were close to zero and not statistically significant." However, some groups of people did see their mental health worsen. Women showed worsening mental health symptoms, the report said, though it was by small amounts.

☆ The pandemic didn't cause a mental health crisis, says a surprising new study
▼ + stars: | 2023-03-10 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +2 min

Surging Shanghai metal stocks have injected an element of doubt into the bull narrative and the LME Index is now showing year-to-date gains of only 3% after a February pull-back. Shanghai Futures Exchange stocks of aluminium, copper and zincSEASONAL SURGEMetals bulls have been nervously watching the fast build in Shanghai Futures Exchange (ShFE) stocks over the past few weeks. Copper stocks have grown equally dramatically, from 69,268 tonnes to 242,009 tonnes over the same period. It is currently assessed by Shanghai Metal Market at a bombed-out $22.50 a tonne, down from an October high of $152.50. WAIT AND WATCHIt's difficult to say until China's seasonal stocks pattern plays out in full.

☆ Davos 2023: Key takeaways from the World Economic Forum
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +6 min

[1/4] NATO Secretary General Jens Stoltenberg, Poland's President Andrzej Duda and Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland take part in the World Economic Forum session on "Restoring Security and Peace. REUTERS/Arnd WiegmannDAVOS, Switzerland, Jan 20 (Reuters) - Global leaders and business executives departed a freezing World Economic Forum (WEF) meeting on Friday after a frank exchange of views over how the world will tackle its biggest issues in 2023. Here's what we learned:ECONOMY: Gloom and doom heading into Davos turned into cautious optimism by the end with the global economic outlook for the year ahead looking better than feared. On the inside, political leaders like Kier Starmer railed against new oil investments and Pakistani climate minister Sherry Rehman pushed for loss and damage funding. The lesson I have learned in the last years ... is money, money, money, money, money, money, money."

[1/2] Climate activists Greta Thunberg, Helena Gualinga and Luisa Neubauer take part in a protest on the last day of the World Economic Forum (WEF) in Davos, Switzerland January 20, 2023. International Monetary Fund (IMF) Managing Director Kristalina Georgieva told the Davos audience that what had improved was the potential for China to boost growth and that the IMF now forecast Chinese growth of 4.4% for 2023. Wall Street executives in Davos said pessimism had eased as economies in the U.S. and Europe stayed resilient and China loosened its COVID-19 policies. For daily Davos updates in your inbox sign up for the Reuters Daily Briefing here. Reporting by Mark John in Davos; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Column: China's power sector emissions set to jump as economy reboots
▼ + stars: | 2023-01-10 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

LITTLETON, Colo., Jan 9 (Reuters) - Pollution levels from China's mammoth power sector are set to climb to new highs in 2023 as Beijing's efforts to spur growth across the economy result in increased burning of fossil fuels. The energy sector accounts for roughly 90% of emissions in the country, the world's top polluter, according to the International Energy Agency (IEA). SOFT PATCHThe 1.6% rise in China's power sector emissions through November was the smallest increase during that period on record aside from 2020, when China first tackled COVID outbreaks, Ember data shows. China power sector emissionsA more than 10% rise in electricity generated from clean sources such as solar and wind - compared with a 1.5% rise in fossil fuel electricity generation - helped curb overall power sector emissions, according to the Ember data. Diminished energy demand from shuttered factories and several key industries also capped overall power sector pollution, with China's industrial output through most of 2022 holding at suppressed levels.

☆ Apple finds a happy home in India
▼ + stars: | 2022-12-20 | by ( Pranav Kiran | ) www.reuters.com time to read: +3 min

Helped by generous subsidies, Taiwanese Apple suppliers are starting to churn out more iPhones in India. Analysts at JPMorgan reckon India will have 6% of iPhone manufacturing capacity in 2022, and the rest will remain in China. Incentives and other subsidies partially compensate for inefficiencies in India, where demand for pricier devices is slowly picking up. HDFC Securities estimates that for an average smartphone, as little as 14% of the value is added in India. Whether or not India gets that far, Apple at least gets a happy new home.

☆ EXCLUSIVE China prepares to tweak yuan fixing process to slow its fall -source
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Florence Lo/IllustrationSHANGHAI, Sept 27 (Reuters) - Chinese monetary authorities are asking local banks to revive a yuan fixing tool it abandoned two years ago as they seek to steer and defend the rapidly weakening currency, a source said on Tuesday. The source, who is familiar with the yuan rate-setting process, said monetary authorities were prodding banks to include the so-called counter-cyclical factor in their daily fixings for the tightly-managed exchange rate. It's an adjustment that 14 banks make to their yuan quotes that the People's Bank of China (PBOC) uses to set the daily reference rate, effectively introducing a bias to the fixing rate. It was abandoned in 2020 when the yuan rose sharply and authorities decided to let market forces dictate the rate around which the yuan is allowed to move. The move aims to restore and strengthen the two-way floating nature of the yuan, said the source.

☆ Exclusive: China prepares to tweak yuan fixing process to slow its fall -source
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +3 min

SHANGHAI, Sept 27 (Reuters) - Chinese monetary authorities are asking local banks to revive a yuan fixing tool it abandoned two years ago as they seek to steer and defend the rapidly weakening currency, a source said on Tuesday. The source, who is familiar with the yuan rate-setting process, said monetary authorities were prodding banks to include the so-called counter-cyclical factor in their daily fixings for the tightly-managed exchange rate. It's an adjustment that 14 banks make to their yuan quotes that the People's Bank of China (PBOC) uses to set the daily reference rate, effectively introducing a bias to the fixing rate. It was abandoned in 2020 when the yuan rose sharply and authorities decided to let market forces dictate the rate around which the yuan is allowed to move. The move aims to restore and strengthen the two-way floating nature of the yuan, said the source.

☆ Analysis: As Putin escalates Ukraine war, China stands awkwardly by him
▼ + stars: | 2022-09-22 | by ( Brenda Goh | ) www.reuters.com time to read: +4 min

China will instead dig in on its awkward stance of calling for dialogue and peaceful resolution while refusing to condemn Russia's invasion of Ukraine, they said. But China has been careful not to provide any direct material support that could trigger Western sanctions against it. "I don't see how different any new position will be ... China doesn't support the war, it doesn't support conflict, that's been very clear from the beginning," said Henry Wang Huiyao, founder of the Beijing-based think tank Center for China and Globalization. Russia says its actions in Ukraine are a "special operation" to degrade its neighbour's military capabilities and root out people it calls dangerous nationalists. Although China probably hoped for a short war, Putin's battlefield moves in Ukraine - seeking to counter recent defeats - are unlikely to concern Beijing or change the substantive nature of the countries' relationship, analysts said.

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