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☆ Rare satellite image shows China's only two operational aircraft carriers together at a base in the South China Sea
▼ + stars: | 2024-10-10 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

A satellite image shows China's two operational aircraft carriers docked together. Liaoning and Shandong were pier-side at Sanya Naval Base on Hainan Island in the South China Sea. AdvertisementA rare satellite image captured China's two fully operational aircraft carriers sitting pier-side together in the South China Sea earlier this week. CNS Liaoning and CNS Shandong, China's two fully operational aircraft carriers, pier-side at Hainan Island. Kevin Frayer/Getty ImagesThe Shandong, China's second carrier, is the country's first domestically-produced aircraft carrier.

Persons: —, Kuznetsov, Admiral Kuznetsov, Kevin Frayer, Pu Organizations: Sanya Naval, Service, South China, Business, People's Liberation Army Navy's, Ford, Getty Locations: Liaoning, Shandong, Sanya, Sanya Naval Base, Hainan, South China, South, People's Liberation Army Navy's Liaoning, Vietnam, CNS Liaoning, China's, China, Russia's, Fujian, Taiwan, Xinhua, East, Philippine, Pacific, Russia, Beijing, Scarborough, Philippines

☆ China economy: Young people in China aren’t spending on romance. That’s a problem
▼ + stars: | 2024-08-13 | by ( Chris Lau | Hassan Tayir | ) edition.cnn.com time to read: +7 min

“The Qixi Festival is not as robust as previous years. Couples attend a kissing contest during the traditional Qixi festival in Shenyang, northeast China's Liaoning province, on August 13, 2013. “The only part of the world where consumer confidence remains very low is China,” L’Oreal CEO Nicolas Hieronimus told analysts on an earnings call late last month. Lower-than-expected growth in the global beauty sector this year is largely a consequence of low consumer confidence in China, he added. People take photos at a bus stop decorated with flowers during Qixi Festival, or Chinese Valentine's Day, on August 22, 2023 in Chongqing, China.

Persons: China’s, Louis Vuitton, ”, forlornly, Huang Jinkun, Alfred Wu, Lee, “, Yeap Jun Rong, Xi Jinping, Peng Liyuan, Stringer, De Beers, That’s, Niulang, Nicolas Hieronimus, Joanne Wilson, didn’t, ” Mercedes, Ola Kaellenius Organizations: Hong Kong CNN, Weibo, CNN, Qixi, Lee Kuan Yew, of Public, National University of Singapore, Volkswagen, Ministry of Civil Affairs, Getty, Diamond, State Administration of Foreign Exchange, Global, WPP, China News Service, Mercedes, ” Mercedes Benz Locations: China, Hong Kong, Shenyang, Liaoning province, Beijing, China's Liaoning province, AFP, Chongqing

☆ U.S. and China fight to 40-40 draw for most Olympic gold medals
▼ + stars: | 2024-08-12 | by ( David K. Li | Sean Nevin | ) www.cnbc.com time to read: +4 min

Cameron Spencer | Getty ImagesThe U.S. and China each won 40 gold medals in the first Summer Games draw in Olympic history, with the Americans pulling into a tie Sunday with victory in the last event, women's basketball. China's Li Wenwen won gold in women's heavyweight weightlifting in what could have been a death knell for American hopes to capture overall gold. U.S. hopes were dimmed further when Chicago native Kennedy Blades, who made a surprising run to the gold medal wrestling match, lost to 76-kg rival Yuka Kagami of Japan. Gold medalist Simone Biles of Team USA poses during the artistic gymnastics women's all-around final medal ceremony on Aug. 1. Patrick Smith | Getty Images Sport | Getty Images

Persons: Cameron Spencer, China's Li Wenwen, Yuka Kagami, Jennifer Valente, Noah Lyles, Breanna Stewart, Cheryl Reeve wryly, hasn't, Simone Biles, Tom Weller, voigt, Anastasiia Kirpichnikova, Katie Ledecky, Isabel Gose, Quinn Rooney, Lee Kiefer, Lauren Scruggs, Eleanor Harvey of Canada, Patrick Smith Organizations: Eiffel, Rings, Olympic Games, Getty, U.S, France, China, Chicago, Kennedy Blades, Team USA, USA, WNBA, didn't, Summer, " Unified, Soviet, Games Locations: Paris, France, China, U.S, Japan, Italy, San Diego, Beijing, Norway, Germany, Soviet Union, Barcelona, Tokyo, Rio, London

☆ Breaking explodes onto Paris' La Concorde, exciting spectators in its first Olympic showing
▼ + stars: | 2024-08-09 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Smith-Circle-Byline-Template.Jpg | Alexander Smith | ) www.nbcnews.com time to read: +8 min

Lithuania's Dominika Banevič, known as Nicka, at La Concorde in Paris on Friday. Lithuania's Dominika Banevič known as Nicka, Japan's Ami Yuasa known as Ami, and China's Liu Qingyi known as 671 at La Concorde in Paris, on Friday. Odd Andersen / AFP - Getty ImagesUsually the Place de la Concorde is a busy traffic intersection. Team USA's Logan Edra, known as Logistx, competes in the breaking round-robin at the Olympics in Paris, on Friday. On Saturday, USA's B-Boys Victor and Jeffro will be among the athletes competing in the men's try of Olympic breaking, wrapping the sport's Paris showing.

Persons: Japan’s Ami, Lithuania's Nicka, Ami, Nicka, Dominika, Odd Andersen, Elsa, Getty, India —, Japan's Ami Yuasa, China's Liu Qingyi, La Madeleine, Malik, —, Sunny, Logistx, USA's Logan Edra, It’s, Ava Rodriguez, Rodriguez, Alison Palaia, Eric Quinlan, ”, Quinlan, “ We’ve, Palaia, “, USA's, Boys Victor, Jeffro, Alexander Smith, Rebecca Cohen Organizations: PARIS, La Concorde, AFP, Getty, Team USA, China's, Team United States, Nicka, Concorde, La, U.S, Los Angeles Games, Olympics, Boys Locations: Japanese, Lithuanian, Paris, Bronx, New York City, Netherlands, India, Carlota, Luxor, France, America, Norwalk, Conn, U.S, ”

☆ Retiring at 50 has long been a guarantee for parts of China's working class — until now
▼ + stars: | 2024-07-26 | by ( Matthew Loh | ) www.businessinsider.com time to read: +7 min

But experts and think tanks have long said this is a policy change that an aging China desperately needs. It's currently running a lopsided policy of letting women retire up to 10 years earlier despite them living significantly longer on average than men. The pension problemKey to the retirement overhaul are China's pension funds. AdvertisementMost Chinese workers receive a state pension, which can be boosted by retirement funds from employers and personal contributions. Experts say that either way, Beijing will need more than a simple policy change to fix its crisis.

Persons: —, Sabrina Luk, Shaun Rein, Luk, It's, Gu Qingyang, CASS, it's, Louis Vuitton, Gu, Rein Organizations: Service, Business, Nanyang Technological University, China Market Research Group, Academy of Social Sciences, National University of Singapore, Louis Locations: Beijing, France, China, Xiaohongshu, Weibo, Singapore, Shanghai, Asia, East Asia

☆ China third plenum: Communist Party meets to set direction for troubled economy
▼ + stars: | 2024-07-14 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

Stakes are high for the meeting, which takes place every five years and is known as China’s third plenum. It has historically been a platform for the party’s leadership to announce key economic reforms and policy directives. China’s gross domestic product expanded by 4.7% in the April to June months, compared to the previous year. But observers of China’s opaque political machine don’t believe there will be fundamental economic reforms this time around. Uncompleted residential buildings at a real estate project on the outskirts of Shenyang in China's Liaoning province earlier this year.

Persons: Hong Kong CNN —, Xi Jinping, Xi, , Xi’s, Andrea Verdelli, They’ll, ”, Neil Thomas, Jing Qian, Li Shangfu, Qin Gang, Li Yuchao, Xu Zhongbo Organizations: Hong Kong CNN, Communist Party, West, Reuters, party’s Central, US, Congress, Bloomberg, Getty, Observers, ” Asia Society Center, China, Tech, EU, Central Committee, Foreign, People’s Liberation Army Rocket Force Locations: China, Hong Kong, Beijing, United States, Europe, party’s, Shenyang, China's Liaoning, China's Shandong

☆ Australia's Albanese, China's Li hold 'candid' talks
▼ + stars: | 2024-06-17 | by ( ) www.cnbc.com time to read: +3 min

China's Premier Li Qiang (L) and Australia's Prime Minister Anthony Albanese shake hands during a signing ceremony at Parliament House in Canberra on June 17, 2024. This dialogue has allowed us to build a deeper awareness of our respective interests," Albanese said in opening remarks. After the meeting, Li told reporters the leaders held a "candid, in-depth and fruitful meeting and reached a lot of consensus". Albanese told reporters after the meeting the two countries had revitalized engagement and he was "determined to keep growing our relationship where we can." watch nowOn regional issues, he had told Li that "Australia advocates that we should all work together to promote a regional balance where no country dominates and no country is dominated".

Persons: Li Qiang, Anthony Albanese, Lukas Coch, Li, Xi Jinping, " Albanese, Albanese, Gong, Tenzin Wougyal Organizations: Australia's, House, AFP, Getty Locations: Canberra, Australian, Beijing, Australia, China, Hong Kong

☆ A recession in early 2025 could send the stock market tumbling 30%, strategist says
▼ + stars: | 2024-05-07 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

A recession by early next year could send stocks down 30%, says BCA strategist Roukaya Ibrahim. AdvertisementThere are two factors signaling a recession by year-end or early 2025, and a downturn could spark a 30% correction in stocks, according to BCA strategist Roukaya Ibrahim. "But eventually, the unemployment rate is going to take higher and that's going to lead to concerns about a recession." Ibrahim isn't alone in calling a recession and a steep plunge in the stock market. Wall Street veteran Gary Shilling, known for predicting the mid-2000s mortgage bubble, is also forecasting a 30% stock market crash by the end of this year, with a recession likely to crush speculative bets that have piled up in recent years.

Persons: Roukaya Ibrahim, Gary Shilling, —, Ibrahim, Ibrahim isn't Organizations: Wall Street, Service, Bloomberg Locations: Friday's, China, Europe

☆ Tesla slides 3% in premarket, Li Auto sinks 8% as EV makers slash prices amid fierce competition
▼ + stars: | 2024-04-22 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Tesla shares sank in premarket trading on Monday, while China's Li Auto plummeted to an 11-month low, after both companies slashed prices of their electric vehicles in various markets amid intense competition. U.S. EV giant Tesla cut the starting price of its Model 3 in China to 231,900 yuan ($32,000) on Sunday, a reduction of 14,000 yuan, as reported by Reuters. The report also said it had slashed prices in other major markets, like Germany. Meanwhile, Li Auto cut prices for its models, including the L7, L8, L9, and the newly launched MEGA SUV, it said on its Weibo account on Monday. Checks by CNBC of both Tesla and Li Auto websites on Monday showed their vehicles were listed at the updated prices.

Persons: Li, Tesla Organizations: U.S, EV, Tesla, Reuters, Li Auto, CNBC Locations: China, Germany

☆ A global scramble to make humanoid robots is gearing up to be the 21st century's space race
▼ + stars: | 2024-03-30 | by ( Joshua Zitser | Jyoti Mann | ) www.businessinsider.com time to read: +11 min

Humanoid robots are symbols of power and technological capability, a geopolitics expert says. An incident earlier this month involving a Saudi humanoid robot inappropriately touching a female reporter might not at first seem even remotely connected. AdvertisementHumanoids are visual representations of breakthroughs in AIIn Italy, the Istituto Italiano di Tecnologia is working on iCub, a research-grade humanoid robot. AdvertisementChina wants to take the leadWhen it comes to humanoid robots, China is vying for the top spot, so it's no wonder other nations are getting nervous. "The vast magnitude of the market offers an unmatched chance to test, improve, and expand the uses of humanoid robots," he said.

Persons: —, Neil Armstrong's, Muhammad, Elie Metri, Giorgio Metta, Metta, there's, Zen Koh, Koh, Peggy Johnson, Johnson, it's, David Becker, OpenAI, Mercedes, Tesla, Julian Mueller, Kaler, Mueller, Tang Ke, Li Boyang, Will Jackson, Johannes Simon, you've, Jackson, we're, Gartner, Nvidia's, Melonee Wise, Justin Sullivan, Metri Organizations: Service, Robotics, QSS Robotics, Muhammad, Istituto, Tecnologia, European Union, Ministry of Industry, Information Technology, Fourier Intelligence, Getty, BMW, Strategic Foresight, Stimson, TIME, Beijing, Conference, Boston Dynamics, Arts, Engineered Arts, GTC, Getty Images Saudi Locations: China, Saudi Arabia, Italy, Soviet Union, Saudi, DeepFest, Riyadh, Robotics Saudi Arabia, India, Nigeria, Shanghai, Oregon, Las Vegas, Texas, Beijing, China's Liaoning Province, San Jose , California, Getty Images Saudi Arabia, QSS, Europe

☆ The US, Russia and China are in a race to dominate new-wave nuclear energy — and win global influence
▼ + stars: | 2024-02-01 | by ( Angela Dewan | Ella Nilsen | ) edition.cnn.com time to read: +12 min

Russia's floating nuclear power plant, Akademik Lomonosov, leaving the service base Rosatomflot on August 23, 2019. For some experts, nuclear energy — in all forms, large or small — has an important role to play in that transition. Globally, the construction of conventional nuclear power plants dipped following the Chernobyl meltdown in 1986. Russia has already built or designed nuclear plants — the traditional type — for China, India, Bangladesh, Turkey, Slovakia, Egypt and Iran. “It certainly dampens the excitement abroad,” said John Parsons, a senior lecturer at MIT and a financial economist focused on nuclear energy.

Persons: Akademik Lomonosov, Biden, Lomonosov, Maxim Shemetov, “ There’s, ”, Josh Freed, China —, Vladimir Putin’s, Bill Gates ’, Luo Yunfei, Kirsten Cutler, they’re, Cutler, ” Cutler, They’re, John Parsons, John Kerry, Thomas Mukoya, Way’s Freed, “, ” Parsons, Mohammed Hamdaoui, ” Hamdaoui, “ It’s Organizations: CNN, Reuters, European Union, International Energy Agency, Energy, World Nuclear, IEA, US, SMR, US Export, Import Bank, International Development Finance Corporation, GE Hitachi Nuclear Energy, China, Changjiang, China News Service, Nuclear Energy, US State Department, “, MIT, InfluenceMap, The State Department, Nuclear Regulatory Commission, NRC, Rystad Energy Locations: Alaska, Russian, Russia, China, European, Japan, India, South Korea, Europe, Dubai, America, Poland, North Carolina, Southeast Asia, Bangladesh, Turkey, Slovakia, Egypt, Iran, Lomonosov, Siberia, Russia’s, Washington, Bill Gates ’ TerraPower, Wyoming, Changjiang Li Autonomous County, Hainan province, United States, Oregon, Idaho, United Arab Emirates

☆ China's Li Auto says to start mass production of its first EV in Feb
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

Staff members stand at the booth of Chinese electric vehicle (EV) maker Li Auto, at a shopping mall in Beijing, China November 3, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsCompanies Li Auto Inc FollowSHANGHAI, Nov 17 (Reuters) - Li Auto (2015.HK) said on Friday it will start mass production and delivery of its first pure electric car in February, as the up and coming Chinese automaker bets on fast charging technologies to solve range anxiety for EV users. The MEGA MPV will also be the first model to be produced at Li Auto's Beijing plant with a designed capacity of 100,000 units annually. Founded in 2015, Li Auto has been offering four extended range hybrid SUVs targeting family users. ($1 = 7.2441 Chinese yuan renminbi)Reporting by Zhang Yan, Brenda Goh; Editing by Muralikumar Anantharaman and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Li Auto, Tingshu Wang, Li, Zhang Yan, Brenda Goh, Muralikumar Anantharaman, Raju Gopalakrishnan Organizations: REUTERS, HK, Li Auto, Thomson Locations: Beijing, China

[1/3] China's Premier Li Keqiang waves as he arrives for a news conference after the closing ceremony of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, China, March 15, 2017. Li was premier and head of China's cabinet under Xi for a decade until stepping down from all political positions in March. Adam Ni, an independent China political analyst, described Li as "a premier who stood powerless as China took a sharp turn away from reform and opening". A glowing 2014 state media profile of Li, praising him as "a calm and tough wall-breaker", went viral shortly after his death was announced. Li's frequent visits to disaster sites and his easy camaraderie when speaking to ordinary people were also highlighted on Chinese state media.

Persons: Li, Damir Sagolj, Li Keqiang, Xi Jinping, Xi, Deng Xiaoping, Alfred Wu, Lee, Zhu Rongji, Wen Jiabao, Wu, Adam Ni, Jiang Zemin, Deng, Li Yining, Hu Jintao, Cheng Hong, Laurie Chen, Tian, William Mallard Organizations: People's Congress, of, People, REUTERS, Rights, Communist Party, CCTV, Weibo, Australian National University, Lee Kuan Yew, of Public Policy, Peking University, Communist Party's Youth League, Youth League, Shanghai, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai, Singapore, Social, Anhui, Henan, Liaoning

☆ China curbs graphite exports in latest critical minerals squeeze
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

Here are key details on graphite and China's limits on exports of strategic minerals. That's about double the amount of lithium in an EV battery. China also refines more than 90% of the world's graphite into material used in virtually all EV battery anodes. Top buyers of graphite from China include Japan, the U.S., India and South Korea, according to Chinese customs data. OTHER CHINESE MINERAL EXPORT CURBSIn July, China announced export restrictions on eight gallium and six germanium products starting on Aug. 1.

Persons: Tony Munroe, Amy Lv, Christian Schmollinger Organizations: REUTERS, Rights, . Geological Survey, EV, Mercedes, Benchmark Mineral Intelligence, Thomson Locations: Qingdao, Shandong province, China, Rights SINGAPORE, Mozambique, Madagascar, Brazil, Japan, U.S, India, South Korea

☆ Nestlé plans to close an infant formula factory due to China's plunging birth rate
▼ + stars: | 2023-10-20 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Nestlé is set to close an infant formula factory in Ireland due to falling Chinese demand. China's fertility rate dropped to a historic low last year, according to experts. The report cited dropping demand for infant formula in China, which it attributed to lower birth rates, as a factor in its decision. AdvertisementAdvertisement"The market, which had previously been reliant on imported infant formula products, is also seeing rapid growth in locally-produced products," it added. The Irish facility makes infant formula products exclusively for export to Asian markets.

Persons: — Organizations: Service, Development Research, China - Britain Business Council, Strategic, International Studies Locations: Ireland, Irish, Askeaton, China, Switzerland, United States

REUTERS/Nick Oxford/File Photo Acquire Licensing RightsSummary IEA trims 2024 oil demand forecast to 880,000 bpdOPEC sticks to 2024 forecast of 2.25 million bpdIEA cites signs of demand destruction from higher pricesLONDON, Oct 12 (Reuters) - The gap between two leading oil forecasters' views on 2024 demand growth widened on Thursday, with the International Energy Agency (IEA) predicting a sharper slowdown while producer group OPEC stuck to expectations for buoyant China-led growth. By contrast, in its latest report OPEC stuck to its forecast that demand will rise by 2.25 million bpd in 2024. The difference between the two forecasts - 1.37 million bpd - is equivalent to more than 1% of daily world oil use. Oil demand growth is an indication of likely oil market strength, and can affect prices and fuel costs for consumers and businesses. "In 2024, solid global economic growth, amid continued improvements in China, is expected to further boost oil consumption," OPEC said in a monthly report.

Persons: Nick Oxford, Natalie Grover, Alex Lawler, Jason Neely, Susan Fenton, Jan Harvey Organizations: Midland , Texas U.S, REUTERS, International Energy Agency, of the Petroleum, IEA, OPEC, Economic Co, Development, Thomson Locations: Midland , Texas, China, OPEC, Israel, Palestinian, Nigeria, Pakistan, Egypt, United States, London

[1/5] U.S. President Joe Biden visits the Raj Ghat memorial with Prime Minister of India Narendra Modi and other G20 leaders, Sept. 10, 2023, in New Delhi. "Everything was reflected in a balanced form," Svetlana Lukash, the Russian G20 sherpa, or government negotiator, was quoted as saying by Russian news agency Interfax. "All members of the G20 have agreed to act as one in the interests of peace, security and conflict resolution around the world." The summit also admitted the African Union which includes 55 member states, as a permanent member of the G20. Russia's 2022 invasion of Ukraine has left tens of thousands dead, displaced millions and sown economic turmoil across the world.

Persons: Joe Biden, India Narendra Modi, Kenny Holston, Jake Sullivan, White, Biden, Russia's Lavrov, Li, Svetlana Lukash, Olaf Scholz, Rishi Sunak, Emmanuel Macron, Fumio Kishida, Mahatma Gandhi, Gandhi, Sergei Lavrov, Li Qiang, Xi Jinping, Russia's Vladimir Putin, Krishn Kaushik, Sanjeev Miglani, Raju Gopalakrishnan, Jacqueline Wong Organizations: REUTERS Acquire, White, Russian G20, House, British, Russian, European Union, Thomson Locations: India, New Delhi, Vietnam, DELHI, Russia, U.S, Moscow, Ukraine, Russian, Germany, Britain, Brazil, South Africa

On Wednesday, China's Li warned against starting a "new Cold War" and warned countries against taking sides in any conflict. Harris, attending the meetings instead of President Joe Biden, reiterated a U.S. commitment to the region. "The United States has an enduring commitment to Southeast Asia and more broadly to the Indo-Pacific," she said. A White House official said earlier the U.S. shared interests with ASEAN in "upholding the rules-based international order, including in the South China Sea, in the face of China's unlawful maritime claims and provocative actions". The Chinese premier and Japanese Prime Minister Fumio Kishida met briefly on the sidelines of the summit on Wednesday and discussed Japan's release into the sea of treated radioactive water from the Fukushima nuclear plant.

Persons: Ferdinand Marcos, Jr, Lee Hsien Loong, Ministry of Foreign Affairs Sarun, Pham Minh Chinh, Fumio, Yoon Suk Yeol, Joko, Kamala Harris, Li Qiang, Sergei Lavrov, China's Li, Harris, Joe Biden, Fumio Kishida, Kanupriya Kapoor, Robert Birsel Organizations: Singapore's, Ministry of Foreign Affairs, Vietnam's, Japan's, ASEAN, Russian, Association of Southeast Asian Nations, White, U.S, Japanese, Thomson Locations: Philippines, Fumio Kishida, South, JAKARTA, Indonesia, Japan, South Korea, India, Australia, South China, Myanmar, Korea, Russia, United States, Southeast Asia, China, Laos

☆ China warns against 'new Cold War' at ASEAN summit
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +5 min

[1/5] China's Premier Li Qiang (L) attends the 26th ASEAN-China Summit during the 43rd ASEAN Summit in Jakarta, Indonesia, on September 6, 2023. In remarks at the start of her meeting with ASEAN leaders, Harris said the United States was committed to the region. "The United States has an enduring commitment to Southeast Asia and more broadly to the Indo-Pacific," she said. Just before this week's gatherings, China released a map with a "10-dash line" showing what appeared to be an expansion of the area it considers its territory in the South China Sea. "The Philippines firmly rejects misleading narratives that frame the disputes in the South China Sea solely through the lens of strategic competition between two powerful countries," Marcos said.

Persons: Li Qiang, Yasuyoshi, Li, Kamala Harris, Joe Biden, Xi, Harris, ASEAN's, Retno Marsudi, Ferdinand Marcos, Marcos, Yoon Suk, Yoon, Kim Jong, Vladimir Putin, Stanley Widianto, Kate Lamb, Kanupriya Kapoor, Robert Birsel, Nick Macfie Organizations: China, ASEAN Summit, REUTERS Acquire, China Sea, Asia ASEAN, Association of Southeast Asian Nations, ASEAN, U.S, White, Indonesian, United, South, North, New York Times, Thomson Locations: ASEAN, Jakarta, Indonesia, Asia, JAKARTA, China, Japan, South Korea, Australia, India, South China, United States, Southeast Asia, Myanmar, States, South, Philippine, Philippines, North Korea, Russia, Moscow, Ukraine

☆ Japan PM speaks to China's Li about radioactive water release
▼ + stars: | 2023-09-06 | by ( Sakura Murakami | ) www.reuters.com time to read: +2 min

Japan's Prime Minister Fumio Kishida speaks during the leaders talk of the ASEAN-Indo Pacific Forum (AIPF) in Jakarta, Indonesia September 6, 2023. Japan started releasing the water from the wrecked plant into the ocean last month, drawing strong criticism from China. "During the chat, I explained Japan's position on the treated water to Premier Li," Kishida said. It was also the first high-level talk between the two countries since the release of the water from the Fukushima plant. The water is treated to remove most radioactive elements except for tritium, a radionuclide difficult to separate from water, and then diluted to internationally accepted levels before being released into the ocean.

Persons: Fumio Kishida, Adek Berry, Li Qiang, Kishida, Li, Premier Li, Sakura Murakami, Rocky Swift, Tomasz Janowski, Nick Macfie Organizations: Japan's, ASEAN, Pacific, Rights, Association of Southeast Asian Nations, Thomson Locations: Jakarta, Indonesia, Japan, China, Premier, Tokyo, Beijing

☆ China's Li promotes greater cooperation with Indonesia
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

China's Premier Li Qiang (L) is greeted by Indonesia’s President Joko Widodo upon his arrival at the 43rd Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, 06 September 2023. Indonesia will host the 43rd ASEAN Summit and related summits on 05 to 07 September 2023. MAST IRHAM/Pool via REUTERS Acquire Licensing RightsBEIJING, Sept 6 (Reuters) - China wants to work with Indonesia to expand cooperation in various areas including green energy, the digital economy, biomedicine, and artificial intelligence, China's foreign ministry reported on Wednesday, citing Premier Li Qiang. Li, in Indonesia for a regional summit, told a late Tuesday dinner with business leaders that they should be confident in cooperation, after weak economic data indicating a slowdown in China had raised doubts in other markets about China's rise. China hoped that Indonesia would maintain its open market open and provide a fair and just business environment for Chinese enterprises, Li said.

Persons: Li Qiang, Joko Widodo, Li, Liz Lee, Ella Cao, Tom Hogue, Robert Birsel Organizations: 43rd Association of Southeast Asian Nations, ASEAN, ASEAN Summit, REUTERS Acquire, Rights, Beijing, Thomson Locations: Jakarta, Indonesia, Rights BEIJING, China

Indonesia imported 53,864 metric tons of nickel ore in the first half of 2023, up from 22,503 tons for all of 2022, Indonesian trade data showed. But imports from the Philippines only started in May, and all arrived at Morowali port in a huge nickel processing park run partly by Chinese nickel giant Tsingshan Group, the Indonesian data showed. "But the ore is cheaper by comparison with domestic ore currently and so this will offset some of the rising costs," Mitchell said. The Philippines mined 360,000 tons of nickel in ore in 2022, or 11% of global supplies, according to INSG. Philippines 1.3% grade ore landed at China's Lianyun port surged 20.6% in the past month to $41 a ton, the highest since March, Mysteel data showed.

Persons: Antara, Aneka, Tsingshan, Wood Mackenzie, Andrew Mitchell, Mitchell, Mai Nguyen, Siyi Liu, Fransiska, Enrico dela Cruz, Dominique Patton, Kim Coghill Organizations: PT Vale Indonesia, REUTERS Acquire, Nickel, Tsingshan Group, Study, Imports, Thomson Locations: Sorowako, South Sulawesi, Indonesia, Philippines, Jakarta, Morowali, China, China's, Hanoi, Beijing, Manila

☆ A worldwide lithium shortage could come as soon as 2025
▼ + stars: | 2023-08-29 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Bloomberg | Bloomberg | Getty ImagesThe world could face a shortage for lithium as demand for the metal ramps up, with some analysts forecasting that it could come as soon as 2025. BMI, a Fitch Solutions research unit, was among those that predict a lithium supply deficit by 2025. In a recently published report, BMI largely attributed the deficit to China's lithium demand exceeding that of its supply. "We expect an average of 20.4% year-on-year annual growth for China's lithium demand for EVs alone over 2023-2032," the report stated. While that could point to a global lithium surplus next year, shortages could start to plague supply chains in 2028.

Persons: Susan Zou, Corinne Blanchard, Deutsche, Blanchard, Zou Organizations: Sigma, Bloomberg, Getty, BMI, Fitch Solutions, Economic, Rystad Energy, P, Commodity, EV Locations: Itinga, Minas Gerais, Brazil, China, skyrocket, transportations, U.S, Europe

Zhang Yaoyu, PCI's global head of LNG trading, declined to comment on the company's traded volume, but said trading was part of the company's overall strategy. By 2026, Chinese companies are expected to have contracted LNG supplies of more than 100 million tons a year. That could mean a surplus of up to 8 million tons that year, according to consultancy Poten & Partners, or a deficit of 5 million to 6 million tons based on estimates from pricing agency ICIS. Qatar, which will be China's largest supplier for 2026, however, offers traditional LNG contracts that are restricted to a single destination or country. These openings in the market and a more liberalised domestic gas market have also prompted smaller Chinese gas distributors and importers to expand into the trading space.

Persons: Dado Ruvic, Toby Copson, Copson, it's, Zhang Yaoyu, Zhang, Jason Feer, Feer, Chen Aizhu, Emily Chow, Marwa Rashad, Yuka Obayashi, Tom Hogue Organizations: REUTERS, 2026 Companies, Shell, BP, International Energy Agency, Offshore Oil Corp, China Gas Holdings, HK, Qatar, Trident LNG, Sinochem, PetroChina International, Poten, Partners, Rystad Energy, Reuters Graphics Reuters, Reuters, PCI, U.S, Beijing Gas, Zhejiang Energy, JOVO Energy, Thomson Locations: Qatar, US, Europe, Asia SINGAPORE, London, Singapore, U.S, Oman, Canada, Mozambique, Shanghai, China, Japan, Beijing, Central Asia, Russia, Southeast Asia, South Korea, Ukraine, ENN, Tokyo

☆ Factbox: China's incumbent and upcoming LNG traders
▼ + stars: | 2023-08-21 | by ( Chen Aizhu | ) www.reuters.com time to read: +5 min

A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan November 13, 2017. Below is a list of China's main gas traders and their operations globally, according to information from company sources and traders. In May, PCI became the first Chinese firm to gain long-term access to gas storage at a European gas terminal. CNOOC also plans to create a London desk in the coming year or two, following PCI and Unipec. Sumitomo Corp (8053.T), which has a desk to trade piped gas in London is considering expanding into LNG trading, said a company spokesperson.

Persons: Issei Kato, Keith Martin, Wang Bingsi, CNOOC, Norinco, ENN, Chen Aizhu, Yuka Obayashi, Florence Tan, Tom Hogue Organizations: REUTERS, Rights, PetroChina International, PCI, London, Gazprom, China National Offshore Oil Company, Gas Co, ENN, LNG, Beijing Gas, Zhejiang Energy, Zhejiang Energy Zhejiang Energy, Exxon Mobil, Mexico, China Gas Holding, China Gas, JOVO Energy, Privately, SOUTH, Mitsubishi Corp, Marubeni Corp, Tokyo Gas, Korea's SK E, Sumitomo Corp, Thomson Locations: Futtsu, Tokyo, Japan, London, Singapore, Beijing, Dubai, Houston, Sinopec, China, Jiangsu province, ENN, U.S, Hebei, Shenzhen, CNOOC, Zhejiang Energy Zhejiang, Zhejiang, Ningbo, Wenzhou, Zhejiang province, HK, Guangxi province, Yantai, Shandong province, Guangdong, Guangzhou, JAPAN, SOUTH KOREA, Asia

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