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☆ Malaysia Open to Extending China-Led Rail Project to Thai Border
▼ + stars: | 2024-03-28 | by ( March | At A.M. | ) www.usnews.com time to read: +2 min

KUALA LUMPUR (Reuters) - Malaysia's government has said it would consider extending a $10 billion China-led rail project to its border with Thailand to boost economic ties between the Southeast Asian neighbours. Part of China's Belt and Road Initiative, the 665-kilometre (413-mile), 50.27 billion ringgit ($10.63 billion) railway is on track to connect the east and west coasts of peninsular Malaysia by the end of 2026. Malaysia's Transport Minister Anthony Loke said on Wednesday the government was open to proposals to extend the track to the border with Thailand, for further integration into existing railway networks or future infrastructure developments. Thailand also has plans to invest in a massive land bridge project in the country's south to boost growth and global trade. The bridge would bypass the congested Strait of Malacca, a narrow sea lane between Malaysia and Indonesia.

Persons: Anthony Loke, Loke, Danial Azhar, Panu, Kanupriya Kapoor Organizations: Reuters, Initiative, Malaysia's, Malaysia's Senate, Malaysian, China Communications Construction Co Locations: KUALA LUMPUR, China, Thailand, Malaysia, Malacca, Indonesia, Bangkok

☆ Buy or avoid China? The pros share their take — and stock picks
▼ + stars: | 2024-01-26 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

But this week, China embarked on monetary easing as it pledged to reduce the amount of liquidity that its banks are required to hold as reserves. Earlier this week, Bloomberg News, citing sources, reported that China is considering a $278 billion package to rescue its stock markets. Andrew Lapping, chief investment officer at Ranmore Fund Management , says the sharp decline in China markets is an "opportunity." "So the stock market is certainly putting much higher equity risk premium ... there are also concerns about policy direction, policy clarity ... Renewable energy: China Longyuan Power Group, China Resources Power.

Persons: Brendan Ahern, CNBC's, Andrew, Winnie Wu, Guy Spier, CNBC's Tanvir Gill, —, Wu, what's, Ahern, Amundi, It's, Morgan Stanley, Michael Bloom, Evelyn Cheng Organizations: Bloomberg, Investors, Ranmore Fund Management, BofA Securities, CCP, JPMorgan, EV, UBS, Baidu, China Communications, China Construction Bank, Ping An Insurance, China Longyuan Power Group, China Resources Power Locations: China, United States, Industrials

☆ Alibaba, Baidu and more: Jefferies names Asian stocks with significant 'hidden value'
▼ + stars: | 2023-11-23 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Asian stock markets may have had a weak year, but excessive cash in the region's companies is a hidden opportunity for investors, according to Jefferies. Asian ex-cash P/E is just 9.1 times, indicating "significant value," Jefferies' analysts noted. The region's stocks are also "appealing from the shareholder return perspective," given stronger prospects of buybacks backed by free cash flows and high cash balances, they wrote. Jefferies screened for Asian companies with "significant ex-cash value and strong fundamentals," and which it said make "good candidates" for buybacks and dividends. Other Asian stocks that made Jefferies' list include Singapore's transport company ComfortDelGro and Indian oil and gas company Petronet .

Persons: Jefferies, JD.com, iPhones, — CNBC's Michael Bloom Organizations: MSCI HK, Baidu, China Communications Services, Qingdao Port International, Energy, Vipshop Holdings, Technology, Singapore South, Kia, Hyundai, Orion Corp Locations: Asia, Pacific, Japan, China, Qingdao, South Korea, Australia, Singapore, Singapore South Korean

☆ Exclusive: IMF chief says Biden-Xi engagement an important signal for world to cooperate
▼ + stars: | 2023-11-18 | by ( David Lawder | ) www.reuters.com time to read: +4 min

The Biden-Xi meeting is "important at a time when geo-economic fragmentation has indeed deepened with negative consequences for the prospects for accelerating growth," Georgieva said. U.S.-China engagement also will be an important factor on negotiations over World Trade Organization reform, including restoration of its dispute settlement system. "We are already seeing the impact of antisemitism and Islamophobia, raising their ugly heads all over the world. IMF SHAREHOLDING REFORMSU.S. Treasury Secretary Janet Yellen said during meetings last week with her Chinese counterpart that a key outcome of U.S.-China economic engagement was Beijing's support for a 50% increase in IMF quota-based resources, without an immediate rise in shareholding for China. Georgieva said it was important for the IMF to start quickly on revamping its shareholding formula to boost the representation of fast-growing developing economies: "The world needs an IMF that is financially strong, and that is also legitimate."

Persons: Joe Biden, Kristalina, Dina Boluarte, Loren Elliott, Kristalina Georgieva, Xi Jinping, Georgieva, Biden, Xi, Janet Yellen, David Lawder, Chris Reese, Tom Hogue Organizations: International Monetary Fund, Economic Cooperation, REUTERS, FRANCISCO, Monetary Fund, Reuters, Biden, U.S ., APEC, U.S, World Trade Organization, United, Hamas, IMF, Treasury, Thomson Locations: Asia, San Francisco , California, U.S, China, United Arab Emirates, GAZA, Gaza, Egypt, Lebanon, Jordan, Israel

WOODSIDE, Calif. (AP) — President Joe Biden and Chinese President Xi Jinping greeted each other with a warm handshake Wednesday as they met on the sidelines of the Asia-Pacific Economic Cooperative conference. The two leaders last spoke a year ago, and since then, already fraught ties between the nations have been further strained. Biden and Xi were speaking behind closed doors at the Filoli Historic House and Garden, which features a Georgian revival-style mansion and a formal, English Renaissance-style garden. The pair opened their face-to-face meeting in the San Francisco Bay area with a solid handshake. The two leaders made the comments Wednesday after shaking hands in their first face-to-face meeting in more than a year.

Persons: Joe Biden, Xi Jinping, Xi, Biden, Michael Douglas, Bourn, Roth, David Fincher’s, Douglas, ’ “ I’m, ”, “, haven’t, ” Biden, ” Xi, they’re, Wednesday's, Aamer Madhani Organizations: Pacific Economic Cooperative, APEC, Biden, Trust for Historic, Biden Biden, U.S, Moscone Center, Tibet, CCP, Chinese Communist Party, White, Xi, Associated Press Locations: WOODSIDE, Calif, Asia, East, Europe, Taiwan, China, Francisco, Woodside , California, San Francisco, United States, San Francisco Bay, Hong Kong, “ Tibet, Bali

COLOMBO, Sri Lanka (AP) — The U.S. announced a $553- million project Wednesday to build a new, deep-water shipping container terminal in the Port of Colombo as it competes with China in international development financing. The U.S.-backed financing comes at a time when Sri Lanka is struggling to recover from a dire financial and economic crisis. Sri Lanka borrowed heavily from China to build the port and other infrastructure including an airport and a city being built on reclaimed land. Both neighboring India and China are jostling for influence in Sri Lanka and both have already invested in expanding facilities at the Colombo port. Colombo port also has a terminal run by China Merchants Port Holdings.

Persons: ”, Scott Nathan, Sri Lanka’s John Keells, Lanka’s, Wang Wenbin, William & Mary, AidData, China's, saysChina, Bradley Parks, “, ” ___ Didi Tang Organizations: South, U.S . International Development Finance Corp, West, Local, Sri, Sri Lanka’s John Keells Holdings, Initiative, Foreign Ministry, China Merchants Port Holdings, CHEC Port City Colombo Co, China Communications Construction Company, William & Locations: COLOMBO, Sri Lanka, U.S, Port, Colombo, China, Bay, Bengal, Beijing, Hambantota Port, Hambantota, India, oceanside, Port City, Virginia, “ Beijing, Washington

☆ China communications firm Guodong raises $150 mln from Middle Eastern sovereign fund
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

Aug 29 (Reuters) - Guodong Network Communication Group, a Chinese communications infrastructure and service provider, has raised $150 million from a Middle Eastern country's sovereign wealth fund, the deal's adviser China Renaissance said on Tuesday. The statement did not identify the sovereign wealth fund. A China Renaissance spokesperson declined to comment, while Guodong didn't immediately respond to a Reuters request to comment. Guodong, founded in 1997, has 40,000 communications base stations and provides data centres that can support cloud computing in China, according to its website. It has received funds from investors including Morgan Stanley, the investment arms of top Chinese investment banks CICC and CITIC and a sovereign wealth fund from Abu Dhabi, said the website.

Persons: Guodong didn't, Ji Xiaoling, Morgan Stanley, Roxanne Liu, Kane Wu, Rashmi Organizations: Communication, China Renaissance, Thomson Locations: Eastern, China, U.S, Abu Dhabi

☆ Yellen's China trip yields long meetings, 'cordial' tone, but no consensus
▼ + stars: | 2023-07-10 | by ( David Lawder | ) www.reuters.com time to read: +5 min

"The accomplishment of the meeting was the meeting itself, not specific issues," said Scott Kennedy, a China economics expert at the Center for Strategic and International Studies in Washington. A senior U.S. Treasury official accompanying Yellen on her first trip to China as secretary described it as "respectful, frank and constructive," adding: "She was warmly received." Her meeting on Saturday with He, China's new economic czar, was scheduled for two hours but lasted five, followed by a "cordial" dinner, the official said. In the meantime, Yellen said the talks set the stage for more frequent U.S.-China communications at the staff level about economic issues, including areas of disagreement. A possible venue for this would be the Asia-Pacific Economic Cooperation summit in San Francisco in November.

Persons: Janet Yellen, Yellen, Lifeng, Scott Kennedy, Premier Li Qiang, Pan Gongsheng, Joe Biden's, Jake Colvin, Hong Hao, Hong, Colvin, Biden, John Kerry, Gina Raimondo, Xi Jinping, Wang Yiwei, David Lawder, Andrea Shalal, Ryan Woo, Ellen Zhang, Qiaoyi Li, Stephen Coates Organizations: . Treasury, U.S, Center for Strategic, International Studies, Global Times, Treasury, Premier, People's Bank of China, National Foreign Trade Council, Grow Investment, . Commerce, Renmin University, Economic Cooperation, Thomson Locations: Beijing, China, Washington, China's, U.S, United States, Hong Kong, Asia, San Francisco, Anchorage , Alaska

☆ As China's intelligence capabilities grow, spying becomes an increasing flashpoint in ties with US
▼ + stars: | 2023-06-15 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +12 min

They underscore how intelligence gathering – an activity meant to go on without detection, out of the public eye – is becoming an increasingly prominent flashpoint in the US-China relationship. That pushes intelligence gathering itself to become “another factor that is complicating US-China relations,” he said. That’s especially the case, experts say, as China continues to expand its own intelligence gathering capabilities – catching up in an area where the US has traditionally had an edge. Other arms of the Communist Party apparatus also play a role in activities beyond conventional intelligence gathering, experts say. Heightened concern and awareness about Chinese intelligence gathering – or the potential for it – has exploded in the US in recent years.

Persons: Antony Blinken, Blinken, Bill Burns, ”, Lyle Morris, Christopher Johnson, “, there’s, they’ve, Johnson, Xi Jinping, That’s, Xuezhi Guo, Guo, Xi, Hector Retamal, –, TikTok –, Edward Snowden, ’, Shou Zi Chew, Jabin, John Delury, John T, Downey, Delury Organizations: Hong Kong CNN, US, White House, CIA, CNN, Asia Society, Center for, Central Intelligence Agency, China, Group, U.S . Navy, AP, Guilford College, People’s Liberation Army, Ministry of State Security, Communist Party, Federal Bureau of Intelligence, The New York Times, Huawei, TikTok, Tiktok, US Justice Department, China Initiative, Center for Strategic, International Studies, National Security Agency, US Central Intelligence Agency, Washington, China ”, Energy, Commerce, Capitol, Washington Post, Subversion Locations: Hong Kong, United States, China, Beijing, American, Cuba, US, Center for China, South, Russia, AFP, Washington, USA, South China, Washington , DC

☆ China's latest addition to its disputed South China Sea outpost: a hot pot restaurant
▼ + stars: | 2023-05-03 | by ( Laura Zhou | South China Morning Post | ) www.businessinsider.com time to read: +4 min

The restaurant opened in late April and can seat 120 at once, the local government says. Woody Island, known as Yongxing in China, is the largest outcrop in the group of about 30 islands making up the Paracels. The government, headquartered on Woody Island, administers both the Paracels and the also hotly contested Spratly island chain, which China calls the Nansha Islands. A satellite photo of Woody Island in March 2018. The centre is also seen as a way to demonstrate Beijing's sovereignty in the region by linking underwater artefacts from the South China Sea — "an important section of the Maritime Silk Road" — to Chinese cultural heritage.

☆ China's 'Belt and Road' grew out of a lending spree. Now those loans may be its problem
▼ + stars: | 2023-04-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +8 min

Bloomberg | Getty ImagesAt its peak, China's Belt and Road Initiative was seen as the centerpiece of Beijing's engagement with the world. According to the report, China issued 128 emergency rescue loans worth $240 billion to 22 countries — including Pakistan, Sri Lanka and Turkey, among others. 'Trying to salvage Belt and Road'Chinese efforts to revamp Belt and Road have been underway since 2020, according to one observer. "A nod to the concern that many Belt and Road projects were not economically viable to begin with. "The increased indebtedness in many Belt and Road countries is a direct consequence of Beijing's overshooting in the pre-2020 phase," said Zhong.

Sharm el-Sheikh, Egypt CNN —Delegates from nearly 200 counties at the COP27 climate summit have agreed to set up a “loss and damage” fund meant to help vulnerable countries cope with climate disasters, in a landmark deal early Sunday morning in Sharm el-Sheikh, Egypt. And in previous public remarks, US Climate Envoy John Kerry had said loss and damage was not the same thing as climate reparations. “This loss and damage fund will be a lifeline for poor families whose houses are destroyed, farmers whose fields are ruined, and islanders forced from their ancestral homes,” World Resources Institute CEO Ani Dasgupta said. Beyond 1.5 degrees, the risk of extreme drought, wildfires, floods and food shortages will increase dramatically, scientists said in the latest UN Intergovernmental Panel on Climate Change (IPCC) report. On Saturday, EU officials threatened to walk out of the meeting if the final agreement failed to endorse the goal to limit warming to 1.5 degrees Celsius above pre-industrial levels.

☆ Shanghai island to host 3,250-bed COVID quarantine facility
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Oct 19 (Reuters) - Shanghai plans to build a 3,250-bed COVID-19 quarantine facility on a small island close to its city centre as China stands by its stringent zero-COVID controls, rather than relaxing curbs as many other countries have done. Register now for FREE unlimited access to Reuters.com RegisterThe Shanghai government did not immediately respond to a request for comment on Wednesday. Shanghai, like other Chinese cities, has continued to battle sporadic outbreaks with repeated mass testing and targeted lockdowns. The southern metropolis of Guangzhou has a 5,000-bed quarantine centre that is mainly meant for travellers entering China from abroad. ($1 = 7.2236 Chinese yuan renminbi)Register now for FREE unlimited access to Reuters.com RegisterReporting by Brenda Goh; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

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