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☆ Beijing Calls for 'Positive, Objective, Friendly' China Policy From South Korea
▼ + stars: | 2024-02-06 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

BEIJING (Reuters) - China hopes South Korea will pursue a "positive, objective and friendly" policy towards Beijing, foreign minister Wang Yi said in a phone call with his South Korean counterpart on Tuesday. China and South Korea have close economic ties, and should work together to maintain the stability and smooth flow of industrial and supply chains, China's foreign ministry quoted Wang as saying in a statement. During the phone call, South Korean foreign minister Cho Tae-yul asked China to play a "constructive role" in curbing North Korea's military threats, and to help North Korean defectors not to be sent back home against their will, South Korea's foreign ministry said in a statement. Wang has invited Cho to China and both countries would continue to discuss Cho's visit, the ministry said. (Reporting by Ethan Wang, Ella Cao, Ryan Woo and Ju-min Park; Editing by Alison Williams and Stephen Coates)

Persons: Wang Yi, Wang, Cho Tae, yul, Cho, Ethan Wang, Ella Cao, Ryan Woo, Alison Williams, Stephen Coates Organizations: South Korean Locations: BEIJING, China, South Korea, Beijing, North

☆ China willing to continue strengthening cooperation with Belarus -state media
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

Chinese President Xi Jinping and Belarusian President Alexander Lukashenko review the honour guard during a welcome ceremony at the Great Hall of the People in Beijing, China March 1, 2023. cnsphoto via REUTERS/File photo Acquire Licensing RightsBEIJING, Dec 4 (Reuters) - China is willing to continue strengthening its strategic cooperation with Belarus, President Xi Jinping was cited as saying after meeting with Belarusian President Alexander Lukashenko on Monday. Xi also said China is willing to enhance coordination and cooperation with Belarus in multilateral mechanisms such as the United Nations and the Shanghai Cooperation Organisation, the official news agency Xinhua said. Xi told Lukashenko that both countries should improve cross-border transport facilitation and promote economic and trade ties as well as people-to-people exchanges, according to Xinhua. The Chinese leader also said Beijing and the Eastern European country should implement projects such as the China-Belarus industrial park and promote industrial cooperation. Reporting by Ella Cao and Liz Lee; Editing by Kim Coghill and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Xi Jinping, Alexander Lukashenko, Xi, Lukashenko, Ella Cao, Liz Lee, Kim Coghill, Jamie Freed Organizations: of, People, cnsphoto, REUTERS, Rights, United Nations, Shanghai Cooperation Organisation, Xinhua, Thomson Locations: Beijing, China, Rights BEIJING, Belarus, Xinhua

☆ China's LandSpace readies satellite launch with methane rocket
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Dec 4 (Reuters) - Beijing-based LandSpace Technology, one of China's private space companies, is preparing to launch a satellite payload to orbit in the first commercial test of its rocket powered by liquid fuel using methane and oxygen. The company did not specify a launch window for the rocket, which will blast off from Jiuquan Satellite Launch Center in Inner Mongolia. The company had fundraising rounds of undisclosed sizes since, Chinese company record tracking database Tianyancha showed. LandSpace rival OrienSpace, founded in 2020, said it plans to launch its first rocket, Gravity-1, based on solid fuel, in December. ($1 = 7.1368 Chinese yuan renminbi)Reporting by Ella Cao, Roxanne Liu and Bernard Orr; Editing by Kevin Krolicki and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: LandSpace's, LandSpace, Elon Musk's, Jeff Bezos, Zhang Changwu, OrienSpace, Ella Cao, Roxanne Liu, Bernard Orr, Kevin Krolicki Organizations: Technology, Weibo, Jiuquan, Elon, Elon Musk's SpaceX, SpaceX, Sequoia Capital, China SME Development Fund, LandSpace's, Thomson Locations: BEIJING, Beijing, Inner Mongolia, China, U.S, HongShan, Sequoia Capital China

☆ China's Xi tells coast guard to enforce maritime law
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

China's President Xi Jinping attends the Leaders Retreat at the Asia-Pacific Economic Cooperation (APEC) Summit in San Francisco, California, U.S. November 17, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsBEIJING, Dec 1 (Reuters) - China's President Xi Jinping has said the country's coast guard must enforce maritime law and crack down on "criminal activities" to defend China's territorial sovereignty, state media reported on Friday. Xi made the comments as he inspected the China Coast Guard's command office for the East China Sea area and the performance of the coast guard's ships by video, Xinhua news agency reported. "It is necessary to establish and improve the coordination and cooperation mechanism of maritime law enforcement, severely crack down on illegal and criminal activities at sea," Xi said. The Chinese coast guard has had several confrontations with vessels from the Philippines in disputed territorial waters in the South China Sea.

Persons: Xi Jinping, Carlos Barria, Xi, Ella Cao, Bernard Orr, Christina Fincher, Barbara Lewis Organizations: Economic Cooperation, REUTERS, Rights, East, Thomson Locations: Asia, San Francisco , California, U.S, Rights BEIJING, East China, Xinhua, Philippines, South China

China has decommissioned 70.45 gigawatts (GW) of coal-fired plants in the last decade, and is building far more renewable energy capacity than any other country. Coal power makes up about 70% of emissions in China, which has committed to being carbon neutral by 2060. After 2025, it is unclear whether China will approve new coal plants. But like many cities in China's coal country, coal revenues and jobs are an incentive to keep building. Several workers in Yulin expressed little doubt about whether new coal plants make economic and environmental sense.

Persons: Li, Gao Yuhe, Xu Mingjun, China's, Xie Zhenhua, Yuheng, Duan, Colleen Howe, Ella Cao, David Stanway, Tony Munroe, Gerry Doyle Organizations: Reuters, Greenpeace, Shenhua Energy, Global Energy Monitor, Development and Research Center, Shaanxi Yulin Energy, Shaanxi Daily, Thomson Locations: YULIN, China, Yulin, Yangquan, Shanxi, Dubai, Ukraine, Canada, Shaanxi, China's, Beijing, Singapore

☆ China's Xi visits financial hub Shanghai
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +3 min

Chinese President Xi Jinping attends the Leaders Retreat at the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, California, U.S., November 17, 2023. REUTERS/Kevin Lamarque Acquire Licensing RightsSHANGHAI, Nov 29 (Reuters) - China President Xi Jinping visited Shanghai, where he went to several venues and learned about the city's efforts to strengthen its competitiveness as an international financial centre, Xinhua news agency reported on Wednesday. Xi made the trip on Tuesday and Wednesday and he inspected the Shanghai Futures Exchange, an exhibition on Shanghai's sci-tech innovations and a government-subsidized rental housing community, the report said. Vice Premier He Lifeng, Shanghai's Communist party secretary Chen Jining and Mayor Gong Zheng also accompanied his visit. It was his first visit to the city since November 2020 and comes a year after historic street protests against China's zero-COVID policy broke out in Shanghai.

Persons: Xi Jinping, Kevin Lamarque, Xi, Cai Qi, Chen Jining, Gong Zheng, Xi's, Premier Li Qiang, Brenda Goh, Bernard Orr, Ella Cao, Ethan Wang, Mark Potter, Louise Heavens, Chizu Nomiyama, Mark Porter Organizations: Economic Cooperation, REUTERS, Rights, Shanghai Futures Exchange, Communist Party of China Central Committee, CPC, Communist, Shanghai Free, Trade, Disney, L'Oreal, Premier, Thomson Locations: Asia, San Francisco , California, U.S, China, Shanghai, Xinhua, Minhang

☆ China's central bank pledges to support domestic demand
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, Nov 27 (Reuters) - China's central bank on Monday said it would fend off systemic risks to the economy and use forceful and targeted monetary policy to better support domestic demand. "Prudent monetary policy should be precise and forceful, with greater emphasis on cross-cyclical and countercyclical adjustments, enriching the monetary policy toolbox," the bank said. The bank added it would "further unblock the monetary policy transmission mechanism", enhance the stability of financial support for the real economy and keep prices "reasonably stable". China's economy is gaining momentum, but it faces challenges such as an imbalanced global economic recovery and an unstable foundation for domestic economic recovery, the central bank said. "Supply and demand dynamics in the property market have greatly changed," the central bank said.

Persons: Thomas Peter, Liangping Gao, Kevin Yao, Ella Cao, Ethan Wang, Bernard Orr, Toby Chopra, Christina Fincher Organizations: Central Business District, National People's Congress, REUTERS, Rights, Thomson Locations: Beijing, China, Rights BEIJING

☆ Chinese court rejects Canadian pop star Kris Wu's appeal
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Nov 24 (Reuters) - A court in China's capital Beijing on Friday denied the appeal of Canadian pop star Kris Wu, who was sentenced to 13 years in prison for crimes including rape, it said in a statement. Wu's close relatives and officials from the Canadian embassy in China attended the verdict announcement. Reuters did not have access to his relatives or his legal representatives for comment, while the Canadian embassy did not respond immediately to a request for comment. The Canadian government said in July that its diplomats were denied access to the start of Wu's appeal trial. Beijing said it notified the embassy of the appeal trial in advance, but it was not open to the public to protect the privacy of the victims.

Persons: Kris Wu, Wu, Kris, Wu's, Xander Cage, Louis Vuitton, Ella Cao, Ryan Woo, Jamie Freed Organizations: Friday, People's, Canadian, Hollywood, Porsche, Thomson Locations: BEIJING, China's, Beijing, China, Canadian, Lancome

☆ China says Philippines enlists foreign force to stir trouble in South China Sea
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +3 min

The Chinese military will maintain high vigilance, resolutely defend sovereignty and maritime rights and interests, and resolutely safeguard peace and stability in the South China Sea, China's military said. "The Philippines enlisted forces out of the region to patrol ... stirred up trouble and engaged in hype, undermining regional peace and stability," the southern theatre command of the Chinese military said. Relations have soured between China and the Philippines over the South China Sea under Philippine President Ferdinand Marcos Jr as he pivots towards closer ties with the U.S., which supports the Southeast Asian nation in its maritime disputes with China. A Chinese foreign ministry spokesperson said on Wednesday China had warned the U.S. and the Philippines in connection with their patrols. A Chinese navy ship shadowed three U.S. and Philippine warships conducting joint patrols on Thursday, the Philippine armed forces chief, Romeo Brawner, told reporters.

Persons: Carlos Dominguez, Gao Hucheng, Damir Sagolj, Ferdinand Marcos Jr, Mao Ning, Romeo Brawner, Brawner, Ella Cao, Bernard Orr, Liz Lee, Neil Jerome Morales, Edmund Klamann, Robert Birsel Organizations: Philippine, China's, REUTERS, U.S, Philippines, U.S ., Relations, South China, China, Philippine -, Thomson Locations: Beijing, China, Philippines, BEIJING, MANILA, Philippine, U.S, South China, Taiwan, South, Palawan, United States, Manila

China, the world's second-largest economy, is already a major investor in South America and has offered tariff-free access to its huge consumer market to four countries. But Uruguay faces opposition from other members of the Mercosur bloc who want to settle an FTA with Europe instead. By comparison, other major beef exporters Australia and New Zealand, which have FTAs with China, pay tariffs at 3.3% and 0%. The elevation of ties with Uruguay to the level of Brazil and Argentina also pushes the remaining Mercosur member Paraguay further outside China's global trade and investment network. Agriculture-dependent Paraguay, whose main exports include beef and soybeans, is the last South American nation that has ties with democratically governed Taiwan, which China claims as part of its territory, and not with Beijing.

Persons: Xi Jinping, Luis Lacalle Pou, Florence Lo, Lacalle Pou, Xi, Joe Cash, Ryan Woo, Ella Cao, Toby Chopra, Raju Gopalakrishnan, Chizu Nomiyama, Alexander Smith Organizations: Uruguayan, of, People, REUTERS, New Development Bank BEIJING, Mercosur, South, Nations, New Development Bank, China, United, Mercosur CET, National Meat Institute of, China's National Bureau of Statistics, Thomson Locations: Beijing, China, Uruguay, Argentina, Brazil Mercosur, American, Brazil, South America, Chile, Costa Rica, Ecuador, Peru, Europe, Australia, New Zealand, Shanghai, United States, MERCOSUR Uruguay, Brussels, Montevideo, Mercosur, National Meat Institute of Uruguay, Paraguay, Taiwan

☆ China vows to support property sector, tackle local debt
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Nov 17 (Reuters) - China's central bank and financial regulators pledged on Friday to ensure financing support for the property sector and to work together to resolve local government debt risks. Chinese leaders are trying to revive the economy and fend off potential financial risks from a property slump and 92 trillion yuan ($12.77 trillion) in local government debt. Recent efforts to stabilise financing for the real estate sector via bank credit, bonds, and equity are gaining traction, the China Securities Regulatory Commission said. China will promote stable credit expansion to support its economic growth, and financial institutions should work with local governments to resolve debt risks, by extending, swapping or rolling over debt, the regulator added. ($1 = 7.2050 Chinese yuan renminbi)Reporting by Kevin Yao and Ella Cao; editing by Christina Fincher, William MacleanOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Yao, Ella Cao, Christina Fincher, William Maclean Organizations: China Securities Regulatory Commission, Thomson Locations: BEIJING, China

New home prices in October dropped 0.3% month-on-month after a 0.2% dip in September, according to Reuters calculations based on National Bureau of Statistics (NBS) data. Once a key engine of economic growth accounting for around a quarter of China's economic activity, a regulatory crackdown since 2020 to curb debt has tightened liquidity and raised default risks for developers, delaying many projects. Out of 70 cities, 56 reported declines in monthly prices last month, marking the most cities number since October 2020, up from 54 in September. TWIST AND TURNSHouse prices in three major cities Beijing, Shenzhen and Guangzhou all fell month-on-month in October. For existing home, NBS data showed 67 cities posted month-on-month price declines in October, up from 65 in September.

Persons: Ma Hong, Ma, Liu Aihua, Zhang Dawei, Zhang, Liangping Gao, Ella Cao, Ryan Woo, Jacqueline Wong Organizations: National Bureau of Statistics, Authorities, Zhixin Investment Research Institute, Nomura, HK, Thomson Locations: BEIJING, Beijing, Shenzhen, Guangzhou

☆ China's Jan-Oct property sales fell 7.8% y/y, investment down 9.3%
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, Nov 15 (Reuters) - Property sales by floor area in China fell 7.8% year-on-year in January-October, compared with a 7.5% slide in the first nine months of 2023, suggesting China's property sector is yet to emerge from its slump. Property investment in the first 10 months of 2023 fell 9.3% from a year earlier, after dropping 9.1% in January-September, according to data from the National Bureau of Statistics (NBS) released on Wednesday. New construction starts measured by floor area fell 23.2% year-on-year, after a 23.4% slump in the first nine months. Funds raised by China's property developers were down 13.8% year-on-year after a 13.5% fall in January-September. (This story has been corrected to change sales fall percentage to 7.8%, from 6.8%, in the headline and paragraph 1)Reporting by Liangping Gao, Ella Cao and Ryan Woo; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Peter, Liangping Gao, Ella Cao, Ryan Woo, Sam Holmes Organizations: REUTERS, Rights, National Bureau of Statistics, Thomson Locations: Zhengzhou, Henan province, China, Rights BEIJING

☆ China's property sales extend declines, weighing on outlook
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Property sales by floor area fell 20.33% year-on-year against a 19.77% fall in September, according to Reuters calculations based on data released by the National Bureau of Statistics (NBS). Sales fell 7.8% year-on-year in January-October, compared with a 7.5% slide in the first nine months of 2023. Property investment fell 16.7% from a year earlier after an 18.7% slide in September, according to Reuters calculations. New construction starts measured by floor area fell 23.2% year-on-year, after a 23.4% slump in the first nine months. Funds raised by China's property developers were down 13.8% year-on-year after a 13.5% fall in January-September.

Persons: Thomas Peter, Ping, Liangping Gao, Ella Cao, Ryan Woo, Sam Holmes Organizations: REUTERS, Rights, National Bureau of Statistics, Authorities, Bloomberg, Reuters, HK, Ping An Insurance, Thomson Locations: Zhengzhou, Henan province, China, Rights BEIJING

☆ China's consumer prices dip back into decline amid limp demand
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +3 min

BEIJING, Nov 9 (Reuters) - China's consumer prices swung back into contraction and factory-gate deflation persisted in October as domestic demand struggled, weighing on the outlook for any broader-based recovery in the world's second-largest economy. The headline figure was dragged by a further slump in pork prices, down 30.1%, speeding up from a 22% slide in September, amid an oversupply of pigs and weak demand. Consumer prices slipped into deflation in July and returned to positive territory in August but were flat in September. "The data shows combating persistent disinflation amid weak demand remains a challenge for Chinese policymakers," said Bruce Pang, chief economist at Jones Lang Lasalle. "We expect China's economy to grow by 5.0% in 2023, in accordance with the target set by authorities, followed by 4.0% growth in 2024 and 2025," said Moody's on Thursday.

Persons: China's, Bruce Pang, Jones Lang Lasalle, Gao, Ella Cao, Ryan Woo, Sam Holmes Organizations: National Bureau of Statistics, Jones, Authorities, Thomson Locations: BEIJING, China, Beijing, West

☆ WeWork China will not participate in WeWork's strategic reorganisation
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +1 min

People are seen outside the building of Wework's co-working space during the National Day Golden Week holiday, in central Beijing, China October 2, 2018. REUTERS/Stringer/File Photo Acquire Licensing RightsBEIJING, Nov 7 (Reuters) - WeWork China will not participate in the strategic reorganisation of WeWork (WE.N) in the United States and Canada, it said on Tuesday. WeWork China is not a branch or unit of WeWork (WE.N), it said in a statement on WeChat, adding the company has independent operations and management capabilities. "Any operating conditions of WeWork in other regions around the world will not have any impact on WeWork China," it added. Reporting by Ella Cao, Albee Zhang and Ryan Woo; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Stringer, Ella Cao, Albee Zhang, Ryan Woo, Christian Schmollinger Organizations: REUTERS, Rights, SoftBank, Thomson Locations: Beijing, China, Rights BEIJING, United States, Canada, WeWork China

☆ Fitness gym collapse kills 3 in China's Heilongjiang province
▼ + stars: | 2023-11-07 | by ( Bernard Orr | Thomson Reuters | Bernard Orr Is A Veteran Journalist With Over Years Of Experience. He Reports On Breaking News Mainland China | ) www.reuters.com time to read: +2 min

BEIJING, Nov 7 (Reuters) - Three people were killed and one injured after a structural collapse at a fitness club in northeast China's Heilongjiang province, local officials said on Tuesday. According to a local resident, the collapsed gymnasium is a basketball arena where youth basketball training is held, Global Times reported late Monday. The venue where the accident occurred belongs to the New Sunshine Fitness Club in Huanan County, according to the county government. 34 Middle School gymnasium collapsed in July," said a netizen on China's Weibo social media platform. Another gymnasium collapse occurred in three months."

Persons: Bernard Orr, Ella Cao, Gerry Doyle Organizations: Government, Global Times, Sunshine Fitness, New Sunshine, Authorities, Weibo, Thomson Locations: BEIJING, China's Heilongjiang, Jiamusi city, Huanan County, Shanghai, New, Heilongjiang, China's Qiqihar

BEIJING, Nov 6 (Reuters) - Unseasonably cold weather and blizzards hit northeast China on Monday, forcing hundreds of flights to be rescheduled and closing schools as several cities issued heightened weather alerts and warned people to stay indoors. China's weather authority warned of a drastic drop in temperature in coming days, along with blizzards, anticipated to substantially affect several cities, state media reported. Provinces and cities upgraded weather response protocols as heavy snowfall is expected in parts of Inner Mongolia, and Hebei, Jilin and Liaoning provinces, China Daily reported. Chinese weather forecasters kept orange alerts for blizzards in several areas, while China's National Meteorological Center issued an orange alert for blizzards and a blue alert for cold waves and strong wind, Global Times reported. China has a four-tier colour-coded weather alert system, with red the highest, followed by orange, yellow and blue.

Persons: Bernard Orr, Ella Cao, Raju Gopalakrishnan Organizations: Harbin Taiping International Airport, China Daily, Central Meteorological Observatory, Meteorological Center, Global Times, Central Meteorological Administration, Thomson Locations: BEIJING, China, Heilongjiang, Harbin, Jilin, Liaoning, Mongolia, Weibo, Provinces, Inner Mongolia, Hebei, Beijing, Tianjin, Shanghai

☆ China urges Myanmar to cooperate on maintaining stability on border
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Nov 6 (Reuters) - Myanmar should cooperate with China to maintain stability on their common border, a Chinese official said on Monday, after a surge of fighting in Myanmar between junta forces and insurgents rocked the region. "Myanmar is called on to cooperate with China to maintain stability along the China-Myanmar border, earnestly ensure the safety of the lives and property of Chinese border residents, and take effective measures to strengthen the security of Chinese personnel," Nong said. Nong, who visited Myanmar on Nov. 3-5, said China hoped Myanmar would restore stability, and it supported all parties to properly handle differences and achieve reconciliation through dialogue as soon as possible. While Western governments have condemned the Myanmar military and imposed sanctions on it, China, along with Russia, have been supportive of the generals. China says it supports Myanmar in finding its own path and has urged the international community to respect its sovereignty.

Persons: Nong, Nobel, Aung, Wang Wenbin, Ella Cao, Bernard Orr, Tom Hogue, Robert Birsel Organizations: Asia Times, Thomson Locations: BEIJING, Myanmar, China, Thailand, Suu Kyi, Russia

☆ China-Germany Cooperation Has Become More Solid and Dynamic - China's Xi
▼ + stars: | 2023-11-03 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

BEIJING (Reuters) - Cooperation between China and Germany has become more robust, solid and dynamic, Chinese President Xi Jinping told German Chancellor Olaf Scholz through a video link chat on Friday. In a wide-ranging discussion that touched on global trade, climate goals, the Israel-Hamas war and Ukraine crisis, the two leaders agreed that China-German relations are improving on several fronts. "China-Germany trade is developing steadily, two-way investment enthusiasm is high, and the cooperation between the two countries is becoming more stable, more solid and more dynamic," Xi was quoted as saying by state broadcaster China Central Television (CCTV). Xi said both countries must not only develop good bilateral relations, but also safeguard the international order and multilateralism and work together to address global challenges, according to state media. In their meeting last November, both leaders jointly condemned threats of using nuclear weapons as the Ukraine-Russia conflict escalated.

Persons: Xi Jinping, Olaf Scholz, Xi, Scholz, Ella Cao, Bernard Orr, Tomasz Janowski, William Maclean Organizations: China Central Television, European Union Locations: BEIJING, Cooperation, China, Germany, Israel, Ukraine, Russia, Palestinian

☆ China to issue $137 bln sovereign debt to support economy
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

Reuters reported on Monday that China's parliament was set to approve just over 1 trillion yuan in additional sovereign debt issuance, citing sources. "The additional fiscal support approved today is the intervention we had been expecting and that was needed to prevent an abrupt fiscal tightening in China in the closing weeks of the year," said Mark Williams, chief Asia economist at Capital Economics. China has previously let local governments issue bonds ahead of the annual session of parliament, which approves government budget plans and is usually held in March. Local governments had been told to complete the issuance of the 2023 quota of 3.8 trillion yuan in special local bonds by September to fund infrastructure projects. The government has not disclosed the size of local governments' 2024 frontloaded bond quotas.

Persons: Mark Williams, Williams, Kevin Yao, Ellen Zhang, Ella Cao, Jason Neely, Susan Fenton Organizations: Xinhua, Reuters, National People's Congress, Capital Economics, Thomson Locations: BEIJING, China, Asia, Beijing

REUTERS/Jason Lee/File Photo Acquire Licensing RightsSummaryCompanies Property sales, investment fall at double-digit paceProperty slowdown remains drag on economic growthBEIJING, Oct 18 (Reuters) - China's property sales and investment posted double-digit declines as efforts to support big cities failed to bolster confidence in an industry struggling to emerged from crisis, although the pace of contraction slowed. Property investment fell 18.7% from a year earlier after a 19.1% drop in August, according to Reuters calculations. "S&P Global Ratings expects that the low number of construction starts, an inventory overhang in lower-tier cities, and ever-tightening escrow restrictions will keep property sales depressed," S&P's credit analysts said in a note on Monday. Property investment in the first nine months of 2023 fell by 9.1% from a year earlier, after slumping 8.8% in January-August, according to NBS data. Funds raised by China's property developers were down 13.5% year-on-year after a 12.9% slide in January-August.

Persons: Jason Lee, Zhou Hao, Liangping Gao, Ella Cao, Ryan Woo, Christian Schmollinger, Sam Holmes Organizations: REUTERS, National Bureau of Statistics, Country Garden Holdings, HK, Monetary Fund, Property, Thomson Locations: Beijing, China, BEIJING

☆ UN chief 'horrified' by Gaza hospital strike that killed hundreds
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Oct 18 (Reuters) - United Nations Secretary-General Antonio Guterres said he was "horrified" by hundreds of people killed in Tuesday's strike on a Gaza hospital. Before flying to the Chinese capital to attend the Belt and Road Forum, Guterres said on Wednesday he had appealed to Hamas for the immediate and unconditional release of hostages, and to Israel to allow immediate unrestricted access to humanitarian aid for Gaza. [1/2]United Nations Secretary-General Antonio Guterres speaks at the opening ceremony of the Belt and Road Forum (BRF), to mark the 10th anniversary of the Belt and Road Initiative at the Great Hall of the People in Beijing, October 18, 2023. REUTERS/Edgar Su Acquire Licensing RightsHe also emphasised the need for promotion of effective debt relief mechanisms to ensure that countries involved in the Belt and Road programme were not locked into unsustainable debt. (This story has been corrected to fix the day of week to say Tuesday, not Sunday, in paragraph 1)Reporting by Laurie Chen, Ella Cao and Liz LeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Antonio Guterres, Guterres, Edgar Su, Laurie Chen, Ella Cao, Liz Lee Organizations: United Nations, Initiative, of, People, REUTERS, Thomson Locations: BEIJING, Gaza, Israel, Beijing

☆ China names Song Kai as new chairman of CFA
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Oct 16 (Reuters) - Song Kai was named as the new chairman of the Chinese Football Association (CFA)，China's state news agency Xinhua reported on Monday, amid a spike in anti-corruption investigations into the soccer body. Song works as the director of Liaoning province's Sports Bureau, according to state media Global Times. Sun Wen, Yuan Yongqing, Yang Xu and Xu Jiren were named CFA vice presidents, Xinhua reported. China's top prosecutor said last week it had ordered the arrest of former CFA vice chairman Du Zhaocai, who was suspected of accepting bribes, state media previously reported. read moreOver a dozen officials working in the football sector have been placed under investigation since November last year, state media reported last week.

Persons: Kai, Sun Wen, Yuan Yongqing, Yang Xu, Xu Jiren, China's, Du Zhaocai, CFA Chen, Ella Cao, Liz Lee, Peter Rutherford Organizations: Chinese Football Association, Xinhua, Liaoning province's Sports, Global Times, CFA, Thomson Locations: BEIJING, Liaoning

☆ SenseTime's former IP rights employee under investigation
▼ + stars: | 2023-09-28 | by ( Josh Ye | ) www.reuters.com time to read: +1 min

Hong Kong, Sept 28 (Reuters) - Chinese tech company SenseTime (0020.HK) said on Thursday a former employee of its intellectual property division is now under police investigation. Without elaborating on details, a SenseTime spokesperson told Reuters via messaging app WeChat, "a former employee of [the] intellectual property division is currently under investigation by the Public Security Bureau due to suspected commercial related case." The state-backed Shanghai Securities News said the suspect is a former executive director of intellectual property rights. The report added that the suspect is now subject to "mandatory measures" due to economic problems but it did not specify which economic problems are under investigation. Reporting by Josh Ye in Hong Kong, Ella Cao in Beijing and Meg Shen in Hong Kong.

Persons: SenseTime, Josh Ye, Ella Cao, Meg Shen, Jane Merriman, Ros Russell Organizations: HK, Public Security, Shanghai Securities News, Thomson Locations: Hong Kong, Beijing

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