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☆ China Foreign Minister Warns Against Decoupling at Munich Security Conference
▼ + stars: | 2024-02-17 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

BEIJING (Reuters) - Chinese foreign minister Wang Yi warned the West that it would be making a historical mistake if it sought to decouple from China in the interests of reducing risk. "Whoever tries de-sinicization in the name of de-risking would be making a historical mistake," Wang said in a speech on Saturday at the Munich Security Conference. His comments came amid calls over the last year from the United States and the European Union to reduce their dependence on China. During a meeting with U.S. Secretary of State Antony Blinken at the conference on Friday, the Chinese foreign minister also stressed that "making 'de-risking' into 'de-China', and seeking 'decoupling from China'" will only backfire on the U.S. itself". Photos You Should See View All 33 ImagesThe plans highlight "de-risking", the EU's policy of reducing economic reliance on China, which the bloc regards with suspicion due to its close ties to Russia.

Persons: Wang Yi, Wang, Antony Blinken, Albee Zhang, Ryan Woo, Giles Elgood Organizations: Munich Security Conference, European Union, U.S, European Commission, China's Chamber, Commerce Locations: BEIJING, China, United States, de, U.S, Russia

☆ China's Wang Yi Held 'Constructive' Talks With Blinken in Munich - Chinese Foreign Ministry
▼ + stars: | 2024-02-16 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

BEIJING (Reuters) - China's Foreign Minister Wang Yi discussed lifting sanctions against Chinese companies and individuals in a meeting with U.S. Secretary of State Antony Blinken at the Munich Security Conference, the Chinese foreign ministry said on Saturday. Both sides also discussed facilitating people-to-people exchanges in the meeting held on Friday, the ministry said, adding the exchanges between the two were "frank, substantial and constructive". "Making 'de-risking' into 'de-China', and building 'small yards and high walls' and seeking 'decoupling from China'" will only backfire on the U.S. itself, Wang said, according to a statement from the foreign ministry. Both sides also exchanged views on regional issues including the Ukraine crisis and the Korean Peninsula, the statement said, without giving further details. China and the U.S. have made some progress in bilateral relations since Chinese President Xi Jinping held talks with President Joe Biden in November, where they reached agreements covering fentanyl, military communications and artificial intelligence on the sidelines of the Asia-Pacific Economic Cooperation summit.

Persons: Wang Yi, Antony Blinken, Wang, Xi Jinping, Joe Biden, Albee Zhang, Ryan Woo, Raju Gopalakrishnan Organizations: China's, U.S, Munich Security Conference, Economic Cooperation, Treasury Locations: BEIJING, de, China, U.S, Ukraine, Asia, Beijing

☆ 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 Launches Powerful Jielong-3 Rocket, Paves Way for More Commercial Missions
▼ + stars: | 2024-02-03 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +3 min

BEIJING (Reuters) - A small but powerful Chinese rocket capable of sending payloads at competitive costs delivered nine satellites into orbit on Saturday, Chinese state media reported, in what is gearing up to be another busy year for Chinese commercial launches. It was the third launch of the rocket, developed by China Rocket Co, a commercial offshoot of a state-owned launch vehicle manufacturer, since December 2022. The cost is similar to the launches of other Chinese small-lift rockets including the Long March 11, but their payload sizes are significantly smaller. Other commercial companies in the Chinese vehicle launch sector includes Galactic Energy, whose Ceres-1 rocket made its debut flight in November 2020. Ceres-1 is capable of delivering a 300 kg payload to a 500 km sun-synchronous orbit.

Persons: Xi Jinping, Ryan Woo, Jacqueline Wong Organizations: China, Co, Geely Holding, CAS Space, Chinese Academy of Sciences, Galactic Energy Locations: BEIJING, Yangjiang, Guangdong, Guangzhou, Lijian, Ceres, Beijing, Shandong

☆ Japan Business Leaders Return to China Seeking to Bolster Cooperation
▼ + stars: | 2024-01-24 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +3 min

Japanese economic delegations had visited China every year since 1975, but those visits lapsed during the COVID-19 era when China largely shuttered its borders due to its stringent pandemic policies. During their visit this week, the Japanese business delegates, which included Masakazu Tokura, chairman of the powerful Keidanren, as the Japan Business Federation is known, are due to meet with Chinese Premier Li Qiang on Thursday. Japan is heavily reliant on China, where Japanese companies have for years invested in building manufacturing supply chains and forged relationships with local partners. China last year arrested a Japanese executive, an employee of the drugmaker Astellas Pharma, on suspicion of espionage. The move has had a chilling effect on business, Japanese officials say.

Persons: Masakazu Tokura, Premier Li Qiang, Fumio, Xi Jinping, Wang Yi, Gamble, Ryan Woo, Miyoung Kim, David Dolan, Michael Perry Organizations: Japan Business, Premier, Pharma, Procter, SK, Nidec Corp, Toyota, Nissan Locations: BEIJING, China, Japan, United States, Kishida, Greater China, Beijing, Singapore, Tokyo

☆ Pacific Nations Meet in China to Discuss Naval Issues
▼ + stars: | 2024-01-16 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

The three-day talks among 70 representatives from 30 countries come amid heightened tension in the South China Sea, particularly sea encounters between China and the Philippines. This week's working group meeting lays the groundwork for a biennial Western Pacific Naval Symposium set for the eastern city of Qingdao in April. Since 2002, China and Southeast Asian nations have tried to establish a framework to negotiate a code of conduct for the South China Sea, but progress has been glacial. In 2016, the Permanent Court of Arbitration said China's South China Sea claims had no legal basis, in a ruling rejected by Beijing. The concerns of members of the Pacific naval symposium go beyond the South China Sea, however.

Persons: Ryan Woo, Albee Zhang, Jacqueline Wong, Clarence Fernandez Organizations: Naval, South China, U.S ., Pacific, South Locations: BEIJING, Japan, Russia, United States, China's, Nanjing, South China, China, Philippines, Brunei, Malaysia, Taiwan, Vietnam, Manila, South, U.S, Qingdao, Southeast, Beijing, South Korea, North Korea

☆ Former China Everbright Group Chairman Arrested on Suspicion of Corruption -State Media
▼ + stars: | 2024-01-14 | by ( Jan. | At P.M. | ) www.usnews.com time to read: 1 min

BEIJING (Reuters) - A former chairman of state-owned financial conglomerate China Everbright Group, Tang Shuangning, was arrested on suspicion of taking bribes and corruption, state media reported on Monday, citing China’s top prosecutor. Tang, 69, was expelled from China's Communist Party earlier this month for severe violations and disciplines, in an intensified campaign aimed at weeding out corrupt officials in the financial sector. Reuters was not immediately able to reach Tang for comment. Tang served as vice chairman of China's top banking regulator in 2003 before he was appointed as chairman of China Everbright Group in 2007. (Reporting by Ziyi Tang and Ryan Woo; Editing by Tom Hogue and Christian Schmollinger)

Persons: Tang Shuangning, Tang, People's Procuratorate, Ziyi Tang, Ryan Woo, Tom Hogue, Christian Schmollinger Organizations: China Everbright Group, China's Communist Party, Reuters Locations: BEIJING, China

☆ China's Nov services activity accelerates on boost from new orders - Caixin PMI
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

The findings present a mixed picture of the vast services sector as an official survey last week showed the sector unexpectedly contracted for the first time since December last year, prompting calls for more stimulus measures. "Both services supply and demand expanded, as the market continued to heal," said Wang Zhe, economist at Caixin Insight Group. Analysts say the different survey sizes and composition of surveyed companies might explain the discrepancy between the Caixin and official PMI readings. Caixin/S&P's composite PMI, which includes both manufacturing and services activity, grew to 51.6 from 50.0 in October, marking the strongest reading since August. According to the Caixin services survey, employment fell for the first time since the start of 2023 as some firms maintained a cautious approach to hiring.

Persons: Wang Zhe, Wang, Louise Loo, spender, Loo, Ellen Zhang, Ryan Woo, Shri Navaratnam Organizations: P Global, Caixin Insight, PMI, Oxford, Thomson Locations: BEIJING, October's, China

☆ China new home prices inch up for third month in November - survey
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jason Lee/File Photo Acquire Licensing RightsBEIJING, Dec 1 (Reuters) - China's new home prices rose slightly for a third straight month in November, a private survey showed on Friday, as the crisis-hit property sector struggles to stabilise despite a slew of government support measures. Prices rose 0.05% on average from the previous month after gains of 0.07% and 0.05%, according to the survey by real estate research firm China Index Academy. Government support for the property sector in recent months has included easing curbs on home purchases and cutting mortgage costs. A Reuters poll on Wednesday found expectations for 1% growth in new home prices next year, little changed from an August poll. "Beijing is turning more proactive to stabilise growth and the new dual-track housing model may help stabilise the property sector in the coming quarters," HSBC said on Thursday.

Persons: Jason Lee, Liangping Gao, Ryan Woo, William Mallard Organizations: REUTERS, Rights, China Index Academy, Index Academy, HSBC, Thomson Locations: Beijing, China, Rights BEIJING

SummaryCompanies cpurl://apps.cp./cms/?pageId=house-poll poll dataNew home prices will likely rise in 2024Property sales, investment seen continuing to slide next yearBEIJING, Nov 29 (Reuters) - Prices of new homes in China are now expected to climb 3% this year after a slew of policy measures to support the country's beleaguered property market, up from earlier expectations for prices to be flat, a Reuters poll showed. But the poll of 11 economists, conducted Nov. 20-28, also showed expectations for 1% growth in new home prices in 2024 were little changed from an August poll. According to the poll, property investment is expected to slump 10% in 2023 and then 8.4% in 2024. Regulators are drafting a list of 50 property developers eligible for a range of financing support, including Country Garden (2007.HK) and state-backed China Vanke (000002.SZ), Bloomberg reported last week. (For other stories from the Reuters quarterly housing market polls)Reporting by Liangping Gao and Ryan Woo; Editing byOur Standards: The Thomson Reuters Trust Principles.

Persons: Huang Yu, Wang Xingping, Liangping Gao, Ryan Woo Organizations: China Index Academy, Fitch, Regulators, HK, Bloomberg, Thomson Locations: BEIJING, China

☆ Chinese navy ships visit Myanmar amid heightened security tensions
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Nov 28 (Reuters) - Three Chinese navy ships have arrived in Myanmar on a goodwill visit as part of renewed Chinese defence engagement amid Chinese concern about a surge of fighting between Myanmar junta forces and insurgents near the Chinese border. The Chinese task force would "conduct naval security exercises" with Myanmar, it reported. This month, the Chinese and Vietnamese navies conducted their 35th joint patrol in Beibu Gulf since 2005, while Chinese troops held a border defence exchange with armed forces from Laos. The Chinese naval visit comes as Myanmar junta forces are battling ethnic minority insurgents near the border with China, raising concerns in China, which has called for peace. Chinese troops have been conducting live-fire drills on their side of the border since Saturday so that People's Liberation Army (PLA) forces are "ready for any emergency", the PLA Daily reported.

Persons: China's, Sun Bo, Albee Zhang, Ryan Woo, Robert Birsel Organizations: Myanmar, Liberation Navy, Senior, United, Liberation Army, PLA, PLA Daily, Thomson Locations: BEIJING, Myanmar, Myanmar's, Yangon, Gulf, Aden, Somalia, United Arab Emirates, Southeast Asia, Beibu Gulf, Laos, China

Local governments plan to use the proceeds of the latest bond sales to purchase equity or convertible bonds from smaller banks, most of them state-owned, effectively recapitalising them, according to the deal prospectuses. DEEPER IN DEBTThe intensified efforts to support smaller banks also come amid growing worries about the impact of ballooning local government debt on the economy. While policymakers are highly concerned over rising debt levels, Beijing has little option but to support smaller banks to contain spillover risks, analysts said. It was not immediately clear if the central authorities had given any guidance to the local governments on recapitalising smaller banks, and who were the buyers of these special-purpose bonds. "Local governments are a likely the first line of defense whenever regional banks become stressed," they said.

Persons: Kim Kyung, Gavekal, Zhang Xiaoxi, Pan Gongsheng, Ziyi Tang, Ryan Woo, Sumeet Chatterjee, Kim Coghill Organizations: People's Bank of China, REUTERS, Rights, China Electronic Local Government Bond, Authorities, National Financial Regulatory Administration, International Monetary Fund, Beijing, Thomson Locations: Beijing, Rights BEIJING, China, Henan, China's, Liaoning, Yunnan, Inner Mongolia

☆ China's Xi Urges Stronger Rule of Law Overseas Amid 'External Risks'
▼ + stars: | 2023-11-28 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

BEIJING (Reuters) - President Xi Jinping has called for stronger rule of law related to foreign affairs given "external risks and challenges" as China opens up to the outside world, state media reported on Tuesday. Xi, speaking during a study session of the Communist's Party's powerful political bureau, said that to protect its overseas citizens and interests, it was necessary to deepen international cooperation on law enforcement, strengthen consular protection and assistance, and build strong rule of law. To facilitate economic and trade exchanges, authorities say Chinese law firms have set up 180 overseas offices in 35 countries and regions, an increase of nearly 50% since 2018. China needs to actively develop foreign-related legal services and cultivate world-class arbitration institutions and law firms, Xi said. China says such centres are meant to help its citizens renew expired driving licences, and are run by Chinese volunteers, not law enforcement officers.

Persons: Xi Jinping, Xi, Ryan Woo, Robert Birsel Organizations: Tencent Holdings, Alibaba Locations: BEIJING, China, Nepal, U.S, Canada, Britain, Netherlands, Beijing, Ukraine, Sudan

☆ China needs to unblock, sustain financial channels for private firms
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +4 min

Private firms, which account for 60% of China's gross domestic product and 80% of urban jobs, were hurt by three years of COVID curbs and a regulatory crackdown that targeted sectors from technology to private tutoring. Banking and financial institutions should set annual service targets for private enterprises, increase the weight of related businesses serving private enterprises in performance appraisal and gradually increase the proportion of loans to private enterprises, it said. China should also expand private firms' bond financing and guide financial institutions to expand the bond financing scale of private enterprises, according to the statement. China should back the listing, mergers and acquisitions, and reorganisation of private enterprises, including supporting qualified companies in going public overseas, it said. Fixed-asset investment by private firms fell 0.6% in January-September year-on-year, highlighting weak private sector confidence.

Persons: Tingshu Wang, Ryan Woo, Ziyi Tang, Kevin Yao, Christopher Cushing Organizations: People's Bank of China, REUTERS, Rights, Banking, Garden Holdings, HK, Bloomberg, Thomson Locations: Beijing, China, Rights BEIJING

Travellers walk with their suitcases at Beijing Daxing International Airport in Beijing, China April 24, 2023. A recent Pew Research Center survey in 24 countries revealed that views of China were broadly negative, with 67% of adults expressing unfavourable views. Visa-free travel to Germany for Chinese nationals would only be possible if all members of the European Schengen Agreement approved, she said. This month, China expanded its visa-free transit policy to 54 countries to include citizens of Norway. It resumed 15-day visa-free entry for citizens of Singapore and Brunei in July.

Persons: Tingshu Wang, Patricia Flor, Catherine Colonna, Wang Yi, Joe Cash, Ethan Wang, Ryan Woo, Christopher Cushing, Kim Coghill, Miral Organizations: Beijing Daxing International, REUTERS, Rights, Pew Research Center, Visa, French, Chamber of Commerce, Thomson Locations: Beijing, China, Rights BEIJING, France, Germany, Italy, Netherlands, Spain, Malaysia, Taiwan, Norway, Singapore, Brunei

☆ 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 wealth manager Zhongzhi flags insolvency, $64 bln in liabilities
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +4 min

BEIJING, Nov 23 (Reuters) - China's Zhongzhi Enterprise Group, a leading wealth manager, told investors it is heavily insolvent with up to $64 billion in liabilities, threatening to reignite concerns that the country's property debt crisis is spilling over into the broader financial sector. The firm, which has sizable exposure to China's real estate sector, apologised to its investors in a letter that said it had total liabilities of about 420 billion yuan ($58 billion) to 460 billion yuan ($64 billion). The liabilities compared to Zhongzhi's estimated total assets of about 200 billion yuan, according to the letter, which was issued on Wednesday and was seen by Reuters. 'ENORMOUS' HOLESigns of trouble at the Zhongzhi group first came to light in July when Zhongrong International Trust Co, a leading trust company controlled by Zhongzhi, missed payments on dozens of investment products. "The Zhongzhi group deeply apologises for the losses caused to investors.

Persons: Zhongzhi, Xu, Xing Zhaopeng, Christopher Beddor, Beddor, Ziyi Tang, Ryan Woo, Sumeet Chatterjee, Muralikumar Organizations: Zhongzhi Enterprise Group, Reuters, International Trust Co, Big, ANZ, Thomson Locations: BEIJING, Beijing, Zhongzhi, China's, China

☆ China wealth manager Zhongzhi flags insolvency, liabilities of $64 bln
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +3 min

The firm, which has sizable exposure to China's real estate sector, apologised to its investors in a letter that said it had total liabilities of about 420 billion yuan ($58 billion) to 460 billion yuan ($64 billion). The liabilities compared to Zhongzhi's estimated total assets of about 200 billion yuan ($27 billion), according to the letter, which was issued on Wednesday and was seen by Reuters. China's highly indebted property sector has been reeling from a liquidity crunch since 2020. Signs of trouble at the Zhongzhi group first came to light in July when Zhongrong International Trust Co, a leading trust company controlled by Zhongzhi, missed payments on dozens of investment products. "The Zhongzhi group deeply apologises for the losses caused to investors.

Persons: Zhongzhi, Ziyi Tang, Ryan Woo, Sumeet Chatterjee, Muralikumar Organizations: Zhongzhi Enterprise Group, Reuters, International Trust Co, Big, Thomson Locations: BEIJING, Beijing, Zhongzhi, China's, China

☆ China wealth manager Zhongzhi flags insolvency, $64 billion in liabilities
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +4 min

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 says would be 'serious mistake' if Argentina cuts ties
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Nov 21 (Reuters) - The Chinese foreign ministry said on Tuesday that it would be a "serious mistake" in Argentina's diplomacy if the South American nation were to cut ties with major countries like China or Brazil. China is an important trading partner for Argentina, and its elected government attaches great importance to relations with China, Chinese foreign ministry spokesperson Mao Ning said at a regular news conference. The right-wing libertarian has criticised China and Brazil, saying he won't deal with "communists," and favours stronger U.S. ties. Mondino also told RIA Novosti that Argentina would "stop interacting" with the governments of China and Brazil, when asked whether Argentina would encourage exports and imports with those countries. "China is willing to continue to work together with Argentina to promote the stability and long-term development of bilateral relations."

Persons: Mao Ning, Javier Milei, Diana Mondino, Mondino, Mao, Ethan Wang, Ryan Woo, Christopher Cushing, Edwina Gibbs Organizations: Argentina, RIA Novosti, Thomson Locations: BEIJING, China, Brazil, Argentina, Russia, India, South Africa

☆ What do we know about China's new financial watchdog?
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +4 min

BEIJING, Nov 21 (Reuters) - China's Central Financial Commission (CFC), a new regulator with Premier Li Qiang as its head, held a meeting on Monday and urged stronger supervision of risks in the financial sector as Beijing accelerates efforts to become a "major financial power". The CFC was set up for the top-level design, development and supervision of the financial sector, strengthening "unified leadership on financial work", according to a restructuring plan published by state media in March this year. The CFC has recruited many officials from the central bank and the finance ministry, financial news outlet Caixin reported earlier this month. The appointments indicate that both officials, who are close confidants of President Xi Jinping, will play important roles in shaping China's financial policies. He was also appointed as party chief of a separate Central Financial Work Commission (CFWC), which has been set up to strengthen the ideological and political role of the party in China's overall financial system.

Persons: Li Qiang, Premier Li, Li, Lifeng, Xi Jinping, Wang Jiang, Xia Xiande, Xi, Ziyi Tang, Kevin Yao, Ryan Woo, Sumeet Chatterjee Organizations: Financial Commission, Communist Party, CFC, WHO, THE, Financial Work, China Everbright Group, Analysts, Reuters, National Financial Regulatory Administration, State Council, People's Bank of China, prudential, Thomson Locations: BEIJING, Beijing, China, Lincoln

☆ Myanmar hands over to China thousands of telecom fraud suspects
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Nov 21 (Reuters) - Myanmar authorities have handed over 31,000 telecom fraud suspects to China since law enforcement officers from both countries launched a crackdown on online scams in September, Chinese authorities said on Tuesday. More than 100,000 people engage in telecom fraud each day in at least 1,000 scam centres in Myanmar, which shares a border with southwest China, Chinese state media has reported. The Myanmar ringleader of a gang committed suicide last week while on the run from Myanmar authorities, Chinese police said. With telecom scams in Myanmar targeting Chinese citizens surging, Assistant Foreign Minister Nong Rong visited Myanmar this month, saying China was ready to work with Myanmar on tackling cross-border crime including online gambling. Nong also said China supported Myanmar in maintaining stability on their common border as Myanmar's junta battled insurgents in the area.

Persons: Nong Rong, Nong, Albee Zhang, Ryan Woo Organizations: Ministry of Public Security, Thomson Locations: BEIJING, Myanmar, China

☆ Mongolia urges Russia, other nations to return cultural artefacts
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

Two Gallimimus dinosaur skeletons are on display during a repatriation ceremony at the United States Attorney's Office of Southern District in New York July 10, 2014. REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsBEIJING, Nov 20 (Reuters) - Mongolia on Monday called for more support from Russia, Britain and other countries to repatriate hundreds of cultural artefacts, some dating back over two millennia. In recent decades, many countries, including former colonies of European empires, have requested the return of cultural and historical artefacts taken away years ago, many of which are housed in museums reluctant to surrender their collections. Mongolia has made some headway in claiming back its cultural artefacts. Earlier this year, the United States returned dinosaur fossils taken out of Mongolia, including the skull of an alioramus, a smaller version of a tyrannosaurus rex that lived 70 million years ago.

Persons: Eduardo Munoz, Mongolia's, Rashid al, Din, Nomin Chinbat, Pyotr Kozlov, Chinbat, Ryan Woo, Miral Organizations: United States Attorney's Office, Southern, REUTERS, Rights, British Library, Museum of Edinburgh, Mongolia's, Thomson Locations: Southern District, New York, Rights BEIJING, Mongolia, Russia, Britain, China's, London, Persian, Persia, United States, Russian

☆ After U.S. fentanyl deal, China warns against selling chemicals used in narcotics
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

An undated handout picture released by Guardia di Finanza shows tools that were seized as a part of an operation against fentanyl trafficking from China to U.S., in Piacenza, Italy. In a circular issued on Thursday, the office of the China National Narcotics Control Commission also cautioned against the risk of running into the "long-arm jurisdiction" of foreign law enforcement agencies. The United States has long sought China's cooperation to stop an illicit flow of precursor chemicals used to make fentanyl, which is up to 50 times stronger than heroin and is increasingly mixed with other drugs, often with lethal results. Under the agreement, China will go directly after specific chemical companies that make fentanyl precursors, a senior U.S. official said. U.S. officials say small chemical businesses in China make precursor chemicals that are shipped to Mexico to produce illicit fentanyl.

Persons: Xi Jinping, Joe Biden, Ryan Woo, Miral Organizations: Guardia, Finanza, REUTERS Acquire, Rights, China National Narcotics Control, United, Thomson Locations: China, U.S, Piacenza, Italy, Rights BEIJING, United States, San Francisco, Mexico

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