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☆ China new home prices grow slightly faster in Oct, private survey shows
▼ + stars: | 2024-11-01 | by ( ) www.cnbc.com time to read: +2 min

People look at models of houses at the 2021 Dalian autumn real estate fair at Dalian World Expo Center on October 15, 2021 in Dalian, Liaoning Province of China. Prices of new homes in China rose at a faster pace in October, traditionally a peak season for house hunting, a private survey showed on Friday, suggesting that recent support measures could be having some early impact in a crisis-hit market. The average price across 100 cities edged up 0.29%, compared with the previous month's 0.14%, according to data released by property researcher China Index Academy. On a year-on-year basis, the average price rose 2.08% versus 1.85% growth in September. Average new home prices fell 0.02% from a month earlier in smaller cities last month, the China Index Academy data showed.

Persons: Nomura Organizations: Dalian, China Index, Authorities, Nomura Locations: Dalian, Liaoning Province of China, China, Shanghai, Beijing

☆ Why EU tariffs are unlikely to dent Chinese EV makers' European expansion
▼ + stars: | 2024-09-20 | by ( Sonia Heng | In Sonia-Heng | ) www.cnbc.com time to read: +2 min

To make the European market unattractive for Chinese EV exporters, tariffs have to be as high as 50%, according to research group Rhodium. watch nowHe pointed out that the EU's tariffs were not as severe as those announced by North America because European and Chinese original equipment manufacturers are heavily interconnected. "It is a delicate balance to promote domestic European production without severely impacting their Chinese operations," McCabe said. Chinese EV makers are coming up with newer, cheaper offerings even as the EU strives to curtail imports via tariffs. At a conference in May this year, Chinese behemoth BYD announced its Dolphin model to the European market at less than $21,550.

Persons: Joseph McCabe, McCabe, behemoth BYD Organizations: Auto, Visual China, Getty, SAIC, EV, AutoForecast Solutions, U.S, Canada, EU, United Kingdom ., Tesla, Volkswagen Locations: Shenyang, Liaoning Province of China, Europe, BYD, North America, United Kingdom, China

☆ 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

☆ North Korea’s Kim ‘inspects’ flood response as thousands evacuated from China border region after heavy rains
▼ + stars: | 2024-07-29 | by ( Simone Mccarthy | Gawon Bae | ) edition.cnn.com time to read: +3 min

CNN —Some 5,000 people were rescued from flood-hit areas along North Korea’s border with China over the weekend in efforts supervised by leader Kim Jong Un, the country’s state media reported Monday. A flooded area in North Korea's North Pyongan province on July 28, pictured in a photo released by North Korea's official Korean Central News Agency. At least 15 people died following a rain-triggered landslide in central China’s Hunan Province, Chinese state media Xinhua said Sunday. China’s northeast – a key food-growing region which traditionally had been less effected by frequent flooding – is also grappling with heavy rains. In China’s Liaoning province, across the border from North Korea’s North Pyongan, more than 45,000 people were evacuated from their homes as of Sunday morning as heavy rains hit the region, according to Xinhua.

Persons: Kim Jong Un, KCNA, Kim –, Gaemi Organizations: CNN, North Korean, North, Korean Central News Agency, KCNA, Xinhua Locations: China, North Pyongan, Yalu, North Korea, Sinuiju City, Dandong, Asia, North Korea's, Pyongan province, Philippines, Taiwan, China’s Fujian Province, China’s Hunan Province, –, China’s Liaoning, North Korea’s, Xinhua, Southwest Liaoning

☆ 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

☆ 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

☆ Paw patrol: China’s most popular new police officer is a corgi
▼ + stars: | 2024-03-29 | by ( Jessie Yeung | ) edition.cnn.com time to read: +3 min

CNN —China’s most popular new police officer is making waves on social media with his stubby legs, wide grin and wagging tail. Fuzai is a reserve police dog and started training when he was two months old, according to state media. Weifang public security bureau/DouyinSome of these peers are featured on Fuzai’s official account on Douyin – the Chinese version of TikTok - with the account run by Weifang police. Weifang public security bureau/DouyinAt the end of the line is Fuzai – strapped to the back of an officer, paws dangling, like a fuzzy backpack. The country’s police forces range from public security departments and neighborhood patrols to more heavy-handed state security and paramilitary forces as well as a highly secretive civilian spy agency.

Persons: CNN —, ”, pooch, Fuzai, –, Wang Yanan, emojis Organizations: CNN, corgi, Weibo, bloodhound, China Daily, Chinese Communist Party Locations: Shandong, China, …, Liaoning

☆ Son Jun-ho: South Korean soccer player returns home after being detained in China on suspicion of accepting bribes
▼ + stars: | 2024-03-25 | by ( Gawon Bae | ) edition.cnn.com time to read: +1 min

CNN —South Korean soccer star Son Jun-ho, who was detained in China for allegedly accepting bribes, has recently returned home, the country’s Ministry of Foreign Affairs said in a statement on Monday. The ministry has been communicating with the Chinese authorities through “various channels” and requested cooperation to “ensure a swift and fair process,” it said without giving details of the release. He has also represented South Korea’s men’s national team and reached the knockout stages of the World Cup in 2022 with the squad. Son became the first foreign soccer player to be investigated and detained since the CSL started in 2004, according to China’s state-run Global Times. His arrest was part of a broader initiative by Beijing to rid Chinese soccer of alleged corruption in the highest levels of the sport, during which the Communist Party’s anti-graft watchdog has been investigating a host of Chinese Football Association figures.

Persons: Son, “, ” Organizations: CNN, South, country’s Ministry of Foreign Affairs, Chinese Super League, Football Association, Korea’s, CSL, Times, Communist, Chinese Football Association Locations: South Korean, China, China’s, Liaoning, Shandong Taishan, Beijing

☆ China ministry seeks more fever clinics to combat respiratory illness surge
▼ + stars: | 2023-11-26 | by ( ) www.cnbc.com time to read: +2 min

Parents take their children to see a doctor at the pediatric emergency department of a hospital in Shanghai, China, November 14, 2023. Recently, Shanghai seasonal change, A influenza and mycoplasma pneumonia high incidence. China's health ministry on Sunday urged local authorities to increase the number of fever clinics as the country grapples with a surge in respiratory illnesses in its first full winter since easing COVID-19 restrictions. National Health Commission spokesperson Mi Feng said on Sunday the surge in acute respiratory illnesses was linked to the simultaneous circulation of several kinds of pathogens, most prominently influenza. Cases among children are appearing especially high in northern areas like Beijing and Liaoning province, where hospitals are warning of long waits.

Persons: Mi Feng, Mi Organizations: Sunday, World Health Organization, China, Program, WHO, Health, State Council, State Locations: Shanghai, China, Wuhan, Beijing, Liaoning province

SHANGHAI, Nov 24 (Reuters) - China called for vigilance on Friday as a surge of respiratory illness hit schools and hospitals and the World Health Organization, which has asked the government for disease data, said no unusual or novel pathogens had been detected. The State Council said influenza would peak this winter and spring and mycoplasma pneumoniae infection would continue to be high in some areas in future. "At this stage, there is nothing to suggest that it may be a new variant of COVID," he said. "I hope that people will not be biased because of the pandemic ... but look at this from a scientific perspective." "It's not that bad, there are more children falling sick now but it's mainly an issue of protection," she said.

Persons: Bruce Thompson, Emily Wu, Feng Zixun, Andrew Silver, Nicoco Chan, Brenda Goh, Robert Birsel Organizations: World Health Organization, State Council, State, WHO, Program, Melbourne School of Health Sciences, University of Melbourne, Beijing, Thomson Locations: SHANGHAI, China, Beijing, Liaoning, Wuhan, Shanghai

☆ China Grapples With Respiratory Illness Spike; WHO Says No Unusual Pathogen Found
▼ + stars: | 2023-11-24 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +3 min

By Andrew Silver and Nicoco ChanSHANGHAI (Reuters) - China called for vigilance on Friday as a surge of respiratory illness hit schools and hospitals and the World Health Organization, which has asked the government for disease data, said no unusual or novel pathogens had been detected. "At this stage, there is nothing to suggest that it may be a new variant of COVID," he said. "I hope that people will not be biased because of the pandemic ... but look at this from a scientific perspective." "It's not that bad, there are more children falling sick now but it's mainly an issue of protection," she said. (Reporting by Andrew Silver and Nicoco Chan in Shanghai and the Beijing Newsroom; writing by Brenda Goh; editing by Robert Birsel)

Persons: Andrew Silver, Nicoco Chan, Bruce Thompson, Emily Wu, Feng Zixun, Brenda Goh, Robert Birsel Organizations: World Health Organization, State Council, State, WHO, Program, Melbourne School of Health Sciences, University of Melbourne, Beijing Locations: Nicoco Chan SHANGHAI, China, Beijing, Liaoning, Wuhan, Shanghai

☆ Banks may resist China’s push to help developers
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Stringer Acquire Licensing RightsSINGAPORE, Nov 21 (Reuters Breakingviews) - Beijing is giving Chinese banks another nudge to persuade them to play the property white knight. Regulators including the People’s Bank of China are drafting a “whitelist” of 50 property developers, including state-backed China Vanke (000002.SZ) and fully private ones like Seazen (1030.HK) and Longfor (0960.HK), Bloomberg reported citing unnamed sources. More importantly, barring specific lending targets, banks are likely to remain in wait-and-see mode because they fear getting stuck with a mountain of bad loans. Last December, Chinese banks pledged new credit lines worth around 3 trillion yuan ($424 billion) to a dozen developers deemed worth saving, following a similar effort by Beijing. But at a time when China’s outstanding property loans are contracting, such vaguely worded guidance loses relevance.

Persons: Stringer, Yawen Chen, Francesco Guerrera, Thomas Shum Organizations: REUTERS, Rights, Reuters, Regulators, People’s Bank of China, HK, Bloomberg, X, Walmart, Thomson Locations: Dalian, Liaoning province, China, Rights SINGAPORE, Beijing

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

☆ North Korea's closure of Africa embassies a sign of economic hardships - South's ministry
▼ + stars: | 2023-10-31 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

The North Korean flag flutters at the North Korea consular office in Dandong, Liaoning province, China April 20, 2021. Both Angola and Uganda have forged friendly ties with North Korea since the 1970s, maintaining military cooperation and providing rare sources of foreign currency such as statue-building projects. Seoul's unification ministry, which handles inter-Korean affairs, said the pullout reflected the impact of international sanctions aimed at curbing funding for the North's nuclear and missile programs. "This can be a sign of North Korea's difficult economic situation, where it is difficult to maintain even minimal diplomatic relations with traditionally friendly countries." Japan's Yomiuri Shimbun newspaper reported last week, citing unnamed sources, that North Korea was planning to shut down at least 10 diplomatic missions, including a consulate in Hong Kong, largely because of economic difficulties.

Persons: Tingshu Wang, Hyonhee Shin, Hyunsu Yim, Gerry Doyle Organizations: North, REUTERS, Rights, Yomiuri Shimbun, Thomson Locations: North Korea, Dandong, Liaoning province, China, Rights SEOUL, Angola, Uganda, Korea, Hong Kong

☆ North Korea closes multiple embassies around the world
▼ + stars: | 2023-10-31 | by ( Hyonhee Shin | ) www.reuters.com time to read: +3 min

The North Korean flag flutters at the North Korea consular office in Dandong, Liaoning province, China April 20, 2021. Both Angola and Uganda have forged friendly ties with North Korea since the 1970s, maintaining military cooperation and providing rare sources of foreign currency such as statue-building projects. "This can be a sign of North Korea's difficult economic situation, where it is difficult to maintain even minimal diplomatic relations with traditionally friendly countries." North Korea has formal relations with 159 countries, but had 53 diplomatic missions overseas, including three consulates and three representative offices, until it pulled out of Angola and Uganda, according to the ministry. Correspondence with the Spanish Communist Party released on the party's website showed the North Korean embassy announcing the closing in a letter dated Oct. 26.

Persons: Tingshu Wang, KCNA, Chad O'Carroll, Kim Jong, Hyonhee Shin, Hyunsu Yim, hyang Choi, Josh Smith, Gerry Doyle, Ed Davies Organizations: North, REUTERS, Rights, NK Pro, Spanish Communist Party, North Korean, Thomson Locations: North Korea, Dandong, Liaoning province, China, Rights SEOUL, Spain, Hong Kong, Africa, Korean, Angola, Uganda, Korea, Italy, Madrid, Pyongyang, United States

Li Keqiang, China's former premier, died Friday of a heart attack in Shanghai, according to state media. Li, who was 68, was China's top economic official for a decade. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementFormer Premier Li Keqiang, China's top economic official for a decade, died Friday of a heart attack in Shanghai, state media CCTV reported. Li later went on to be appointed governor of the Henan and Liaoning provinces, before becoming a vice premier in 2008 and China's premier in 2013.

Persons: Li Keqiang, Li, —, Xi Jinping, Hu Jintao, Hu, Xi Organizations: Service, Observers, Chinese Communist Party, Youth League Locations: Shanghai, China, Anhui, Henan, Liaoning

☆ Li Keqiang: China’s former Premier dead at 68 according to state media
▼ + stars: | 2023-10-27 | by ( Simone Mccarthy | Steven Jiang | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Former Chinese Premier Li Keqiang, once seen as a reform-minded contender to the country’s top leadership role, died of a sudden heart attack early Friday in Shanghai, state media reported. 2 leader until late last year, served as the country’s premier – traditionally in charge of the economy – for a decade from 2013 to March this year under strongman leader Xi Jinping. Under Hu, Li was named to the party’s top central leadership body the Politburo Standing Committee in 2007. Then 67, Li was one year short of the unofficial retirement age for senior Chinese Communist Party leaders. He was succeeded as premier earlier this year by former Shanghai party chief and Xi loyalist Li Qiang.

Persons: Hong Kong CNN —, Li Keqiang, Li, Xi Jinping, ” Li, “, Xi, Xi’s, Hu Jintao, Hu, nodded, Mao Zedong, China’s princelings, Li Qiang Organizations: Hong Kong CNN, Hong Kong CNN — Former, Peking University, Communist Party’s Youth League, Communist Party Congress, Dongling, Brigade, Communist Youth League Central Committee, Communist Party, party’s, Chinese Communist Party Locations: Hong Kong, Shanghai, United States, China, Liaoning, Henan, Anhui

☆ In northeast China, Russian and Chinese firms ink deals from manufacturing to agriculture
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

Russian President Vladimir Putin shakes hands with Chinese President Xi Jinping during a meeting at the Belt and Road Forum in Beijing, China, October 18, 2023. Sputnik/Sergei Guneev/Pool via REUTERS/File Photo Acquire Licensing RightsBEIJING, Oct 23 (Reuters) - Chinese and Russian companies attending a regional conference in northeastern China signed a raft of cooperation deals on Monday in sectors ranging from manufacturing and logistics to e-commerce and agriculture, Chinese state media reported. The conference in Shenyang, the capital of Liaoning province, followed last week's meeting in Beijing between Russian President Vladimir Putin and China's President Xi Jinping. Russian local government officials, business representatives as well as nearly 800 Chinese companies hoping to enter the Russian market were attending the conference. In January to September, 40 Russian firms set up businesses in Liaoning, China's national broadcaster reported on Monday.

Persons: Vladimir Putin, Xi Jinping, Sergei Guneev, Xi, Ryan Woo, Ellen Zhang, Simon Cameron, Moore Organizations: Forum, Sputnik, Rights, West, China's, Chinese, Administration of Customs, Thomson Locations: Beijing, China, Rights BEIJING, Shenyang, Liaoning province, Russia, Ukraine, Liaoning, Heilongjiang, Jilin, Vladivostok, Russian, Zhoushan, Zhejiang

☆ 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

☆ China's Golden Week: expected consumption boom disappoints
▼ + stars: | 2023-10-09 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —China has concluded its Golden Week holiday on a muted note, with key travel and spending data showing weaker-than-expected recovery in consumption amid a wider economic slump. Before the holiday, the ministry had expected domestic travel to hit 896 million trips, and tourism spending to reach 782.5 billion yuan ($107 billion). According to the National Immigration Administration, on average 1.48 million people crossed the border every day during the Golden Week holiday. Weakness at the box officeChina’s box office hit multi-year lows during the holiday week. A recovery in domestic consumption not related to the Golden Week also fell short of expectations.

Persons: ” Goldman Sachs, Tesla, BYD Organizations: Hong Kong CNN, Ministry of Culture, Tourism, National Immigration Administration, Shenyang North Railway, Stringer, Getty, Citi, Entertainment, Tencent, China Passenger Car Association Sunday, CNN, EV Locations: China, Hong Kong, Beijing, China's, Liaoning, AFP, Tourism

☆ Slowing, Graying and in Debt, Can China’s Industrial Heartland Be Revived?
▼ + stars: | 2023-09-26 | by ( Keith Bradsher | More About Keith Bradsher | ) www.nytimes.com time to read: +1 min

Hundreds of workers at a factory in Shenyang in northeastern China weld automated machines, 95 yards long, that are used to bore subway tunnels. At another factory there, employees assemble robots that China’s solar panel makers will use to streamline their production. Shenyang is the capital of Liaoning Province, one of three large provinces in the northeast that constitute the cradle of China’s heavy industry. Now the central government, confronting a national economy that has slowed because of a real estate crisis that defies easy fixes, is turning to cities like Shenyang. Fewer people are buying new homes, apartment prices are falling and construction cranes are less active.

Locations: Shenyang, China, Liaoning Province, Beijing

☆ Oil investors open to dividend cut to boost clean energy spending -Deloitte
▼ + stars: | 2023-09-12 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +3 min

Energy firms have sharply increased shareholder returns on the back of high energy prices after years of overspending on production growth. Oil and gas companies led all industries in cash distribution to shareholders in 2022, with a combined 8% dividend and buyback yield, Deloitte said. But investors holding $2.3 trillion of equity in the global oil and gas industry are changing their expectations about growth markets faster than energy company executives, Deloitte said. About 75% of surveyed investors stated that they would continue holding shares to accelerate investments in lower-carbon technologies, even if yields shrank to as little as 3%. About 43% of surveyed investors emphasized battery storage as their key area for investment.

Persons: Chen Aizhu, Kate Hardin, Hardin, Sabrina Valle, Jamie Freed Organizations: China National Petroleum Corporation, Dalian Petrochemical Corp, REUTERS, Deloitte, . Energy, Oil, Exxon Mobil, Chevron, BP, Shell, Thomson Locations: China, Dalian, Liaoning province, HOUSTON

☆ More Chinese cities lift home-buying curbs to revive demand
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, Sept 11 (Reuters) - Two major cities in eastern China lifted all curbs on home purchases and selling on Monday, joining several other cities in dropping restrictions to attract buyers and revive a largely frozen property market. Qingdao previously limited the number of homes that could be purchased in two districts. Last week, three cities - Nanjing in eastern Jiangsu province and Dalian and Shenyang in northeastern Liaoning province - became the first group of big cities to eliminate curbs on home buying. Smaller Chinese cities, whose property markets tend to have a larger share of their local economies, have already begun dismantling curbs. Jiaxing city, a relatively small city in the eastern province of Zhejiang, announced it would lift all curbs in the city in late August, according to a local media report.

Persons: Thomas Peter, Albee Zhang, Ryan Woo, Neil Fullick, Emelia Organizations: REUTERS, Rights, Thomson Locations: Beijing, China, Rights BEIJING, Jinan, Qingdao, China's, Shandong, Nanjing, Jiangsu, Dalian, Shenyang, Liaoning, Jiaxing, Zhejiang

☆ China developer Vanke sees pressure on profit amid market downturn
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Stringer/File Photo Acquire Licensing RightsHONG KONG, Aug 31 (Reuters) - Chinese state-backed property developer China Vanke said its profit would be under pressure in the short term amid a market correction, but that would not hurt its cashflow. Offshore, it said it has completed 15 billion yuan worth of offshore refinancing in the first half, and it is getting ready to repay its three bonds totalling 11 billion yuan maturing next year. Commenting on the broader market, company chairman Yu Liang China's property market has "overcorrected" as sentiment over-react to the negative news in the sector. As pressure mounts on the real estate market, more Chinese cities are easing mortgage curbs in hopes of reviving consumer demand for homes. ($1 = 7.2882 Chinese yuan renminbi)Reporting by Clare Jim; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: Stringer, HONG KONG, China Vanke, Vanke, Yu Liang, Yu, Clare Jim, Susan Fenton Organizations: REUTERS, Thomson Locations: Dalian, Liaoning province, China, HONG, Shenzhen, Wuhan, Hubei, Guangzhou

☆ Xiaomi revenue drops but EV strategy ahead of schedule
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Sales dropped to 67.4 billion yuan ($9.2 billion) from 70.17 billion in the same quarter a year earlier, but beating analysts' estimates of 65.13 billion. Net income rose to 5.14 billion yuan over the period, an increase of 147% from 2.08 billion yuan a year earlier, also beating expectations. "Despite the macroeconomic headwinds in the global market we continue to expand our footprint," Xiaomi President Lu Weibing said on an earnings call. Lu said the company's plans to start mass production of EVs in the first half of 2024 remains unchanged. "Our current progress is ahead of expectations and of the original production schedule," he said.

Persons: Lu Weibing, Lu, Stringer, Canalys, David Kirton, Mo Yelin, Louise Heavens, David Holmes Organizations: Xiaomi Corp, HK, REUTERS, Reuters, Thomson Locations: SHENZHEN, China, Shenyang, Liaoning province, India, Shenzhen, Mo, Beijing

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