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☆ Italy's Meloni vows to 'relaunch' cooperation with China
▼ + stars: | 2024-07-29 | by ( ) www.cnbc.com time to read: +1 min

Italian Prime Minister Giorgia Meloni vowed on Sunday to "relaunch" cooperation with China, signing a three-year action plan during her first official visit to Beijing since taking office. The Italian leader said her five-day trip was a "demonstration of the will to begin a new phase, to relaunch our bilateral cooperation." Later in the day Meloni said that an industrial cooperation memorandum signed by Italy and China includes strategic industrial sectors such as electric mobility and renewables. Meloni, who sees Chinese investment as a way to spur Italy's anemic economic growth, will meet Xi and China's top legislator, Zhao Leji, third in the leadership hierarchy. Meloni is expected to raise Chinese overcapacity with Chinese officials, as well as Chinese economic support for Russia in its war with Ukraine.

Persons: Giorgia Meloni, Meloni, Premier Li Qiang, Xi, Qiang, Zhao Leji, Leonardo, Gabbana Organizations: Italian, Premier, Xi Jinping's, Pirelli, ENI, Russia Locations: China, Beijing, Rome, Italy, Ukraine

☆ China EV maker Nio on track to unveil its first mass-market car in May, executive says
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: +1 min

The logo of NIO seen on an EL6 car model is pictured at the NIO House, the showroom of the Chinese premium smart electric vehicle manufacture NIO Inc. in Berlin, Germany August 17, 2023. China's premium electric vehicle maker Nio is on track to unveil a new model under a mass-market brand by the end of this month and a second smaller EV to be sold in Europe next year for less than $30,000, a senior executive told Reuters on Monday. Nio has created the sub-brand Onvo to launch a new EV that Chief Executive William Li has said will take aim at the Tesla Model Y, the world's best-selling EV. On Monday, the new website for the Onvo brand went live in China with a message to "stay tuned" for details on the new model, the L60. Vincelot said more details on the brand, until now code named "Alps", were expected by the end of the month.

Persons: Nio, William Li, Nicolas Vincelot, Vincelot Organizations: Reuters, EV, Tesla Locations: Berlin, Germany, Europe, France, China, Paris

☆ China says drop in trade with the U.S. is 'a direct consequence of U.S. moves'
▼ + stars: | 2023-08-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Jason Lee | ReutersBEIJING — China's ambassador to the U.S., Xie Feng, has blamed U.S. tariffs and export controls for a drop in trade between the two countries. "This is a direct consequence of U.S. moves to levy Section 301 tariffs on Chinese imports, abuse unilateral sanctions and further tighten up export controls," he said. China's trade partnersThe U.S. is China's largest trading partner on a single country basis. Following her meetings with Chinese government officials, the U.S. and China agreed to establish regular communication channels on commerce, export controls and protecting trade secrets. Xie claimed that average U.S. tariffs on Chinese products were 19%, while the Chinese tariffs on U.S. goods averaged 7.3%.

Persons: Jason Lee, Xie Feng, Xie, Gina Raimondo's, Raimondo, Trump, Joe Biden, Janet Yellen Organizations: Reuters, Reuters BEIJING —, Forbes, U.S, China Business Forum, European Union and Association of Southeast, . Commerce Secretary, . Commerce, The Locations: Washington, Beijing, Taiwan, South China, Reuters BEIJING, U.S, China, New York, U.S . China, United States, Nations, France, Japan, The U.S

☆ Saudi Arabia and China Flaunt Growing Ties at Investment Forum
▼ + stars: | 2023-06-12 | by ( Vivian Nereim | ) www.nytimes.com time to read: +1 min

The message at an Arab-China business forum hosted by Saudi Arabia this week was not particularly subtle, as hundreds of Chinese officials and executives gathered beneath giant chandeliers, smiling for selfies and snacking on organic dates. “If you want a trusted partner in the world — one of the best partners in the world — it’s the People’s Republic of China,” Mohammed Abunayyan, the chairman of a Saudi renewable energy company, declared from the stage, to resounding applause. “China is a partner you can depend on,” he said on Sunday, the first of two days of meetings. Yet at the conclusion of Mr. Blinken’s visit on Thursday, the Saudi foreign minister said that while the kingdom values its close relationship with the United States, it has no plans to distance itself from China, its top trading partner. Saudi officials often complain that they feel like they cannot rely on the United States, their historical security guarantor, and are seeking to forge a more independent foreign policy.

Persons: ” Mohammed Abunayyan, ”, Antony J, Blinken, Blinken’s Organizations: U.S, State, ., Saudi Locations: Arab, China, Saudi Arabia, People’s Republic of China, Saudi, United States

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