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☆ Broadcom plans to close $69 billion VMWare deal on Wednesday
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

[1/2] 3D printed clouds and figurines are seen in front of the VMware cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 21 (Reuters) - Broadcom (AVGO.O) said it planned to close its $69 billion acquisition of cloud computing firm VMWare (VMW.N) on Wednesday, wrapping up one of the biggest takeover deals in the technology industry that was closely scrutinized by regulators globally. Some investors in the companies had feared about the outcome of the deal after reports said last month that rising Sino-U.S. tensions could lead China's regulator to scuttle the deal. Broadcom shares were down more than 1%, while VMware was down 4.6%. The deal was previously expected to close by Nov. 26.

Persons: Dado Ruvic, Biden, Bernstein, Zaheer Kachwala, Mary Varghese, Siu, Anil D'Silva, Shounak Organizations: VMware, REUTERS, Broadcom, VMWare, Thomson Locations: China, U.S, Beijing, Washington, Bengaluru, Hong Kong

☆ Berkshire Hathaway sells $25.8 mln worth of shares in China's BYD
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: 1 min

Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan/File Photo Acquire Licensing RightsHONG KONG, Oct 31 (Reuters) - Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 820,500 Hong Kong-listed shares of electric vehicle maker BYD Co (002594.SZ) for HK$201.73 million ($25.78 million), a stock exchange filing showed. The sale on Oct. 25 lowered Berkshire's holdings in BYD's issued H-shares to 7.98% from 8.05%, the filing to the Hong Kong stock exchange on Tuesday showed. ($1 = 7.8238 Hong Kong dollars)Reporting by Twinnie Siu; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Warren Buffett, Scott Morgan, Berkshire Hathaway, Twinnie Siu, Louise Heavens Organizations: Berkshire Hathaway, REUTERS, HK, Thomson Locations: Omaha , Nebraska, U.S, HONG KONG, Berkshire, Hong Kong, BYD's

☆ Hong Kong Finance Chief to Attend APEC Meet, Side-Stepping Dispute
▼ + stars: | 2023-10-31 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

HONG KONG (Reuters) - Hong Kong's financial secretary Paul Chan will attend an APEC meeting on Nov. 15-17 in San Francisco, it said on Tuesday, standing in for Chief Executive John Lee and smoothing over a diplomatically sensitive issue for both Beijing and Washington. Beijing had previously said Lee, who is subject to U.S. sanctions, should attend. The United States imposed sanctions on Lee in 2020 over his role in the crackdown of pro-democracy demonstrations. Earlier this year, a State Department spokesperson said Washington would work with Hong Kong to ensure "appropriate" participation in the APEC (Asia-Pacific Economic Cooperation) meeting. Hong Kong's statement said Lee was unable to attend due to "scheduling issues" and made no mention of the U.S. sanctions.

Persons: Paul Chan, John Lee, Lee, Wang Yi, Washington, Hong, Chan, Twinnie Siu, Farah Master, Ryan Woo, Louise Heavens, Mark Potter Organizations: Reuters, Chief, Beijing, Foreign, APEC, State Department, Economic Cooperation Locations: HONG KONG, San Francisco, Beijing, Washington, United States, Hong Kong, Asia, U.S

[1/2] Hong Kong Chief Executive John Lee delivers his annual policy address at the Legislative Council in Hong Kong, China October 25, 2023. Chief Executive John Lee said Hong Kong's economy, which contracted 3.5 percent last year, would "resume growth this year" as inbound tourism and consumption improved, and unemployment fell. Hong Kong's economy grew 2.2% in the first half of the year, and is expected to grow four percent this year. "External forces continue to meddle in Hong Kong affairs," he said, without giving specifics or naming any country. Some Western governments have criticised the ongoing national security clamp down, which has led to the imprisonment of many opposition democrats and closure of liberal media outlets.

Persons: John Lee, Tyrone Siu, Hong, Lee, Hong Kong's, Clare Jim, Twinnie Siu, Jessie Pang, Donny Kwok, James Pomfret, Simon Cameron, Moore Organizations: Hong, Legislative, REUTERS, Tyrone, U.S, Thomson Locations: Hong Kong, China, HONG KONG, Hong

☆ China's electric vehicle giant BYD sees Q3 net profit as much as doubling
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

People stand next to BYD Company vehicles, at the 2023 IAA Mobility auto show, in Munich, Germany, September 10, 2023. REUTERS/Angelika Warmuth/File Photo Acquire Licensing RightsCompanies BYD Co Ltd FollowHONG KONG, Oct 17 (Reuters) - Chinese electric vehicle giant BYD (002594.SZ) on Tuesday said it expects third-quarter net profit to as much as double thanks to robust sales and effective cost control. The Shenzhen-based company forecasts net profit for the July to September period at between 9.55 billion yuan ($1.31 billion) and 11.55 billion yuan, an increase of 67% to 102% from a year earlier. "Despite the increasingly intensified competition in the automobile industry in the third quarter, the company continued to record profit," BYD said in the filing. Net profit in the nine months through September is expected to rise 120-142% year-on-year to between 20.50 billion yuan and 22.50 billion yuan, it said, up from a net profit of 9.31 billion yuan in the year ago period.

Persons: Angelika Warmuth, BYD, Twinnie Siu, Jan Harvey Organizations: BYD Company, REUTERS, BYD, Tashkent Municipal, Thomson Locations: Munich, Germany, HONG KONG, Shenzhen, Uzbekistan, Tashkent

☆ Super typhoon heads towards Hong Kong, China issues highest warning
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +3 min

BEIJING/ HONG KONG Aug 31 (Reuters) - China issued its highest typhoon warning on Thursday as Super Typhoon Saola, packing winds of more than 200 kph (125 mph), headed towards the southeastern coastline, threatening Hong Kong and other major manufacturing hubs in nearby Guangdong province. Chinese forecasters issued a typhoon red warning at 6 a.m. (2200 GMT). As Saola approached, Guangdong's Shenzhen city said it would upgrade the typhoon warning level to yellow - the second lowest - at 6 p.m. on Thursday, and suspend classes at nurseries, kindergartens, primary and secondary schools. China Railway has suspended several major train lines and Shanghai halted trains heading to Guangdong, according to local media. Reporting by Bernard Orr, Ethan Wang，David Kirton and Shanghai newsroom, Farah Master and Twinnie Siu in Hong Kong; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

Persons: Saola, Hong Kong's, Shenzhen's Baoan, Downpours, Bernard Orr, Ethan Wang ， David Kirton, Farah, Twinnie Siu, Lincoln Organizations: Meteorological Centre, Supermarkets, Kong's, China Southern Power Grid, China Railway, Thomson Locations: BEIJING, HONG KONG, China, Hong Kong, Guangdong, Guangdong province, Huilai County, Wan Chai district, Shenzhen, Shenzhen's, Shanghai, Fujian

☆ Changan Ford Motor to set up electric car JV with Chongqing Changan Auto
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

Workers assemble vehicles at a plant of Changan Ford, a joint venture between Changan Automobile and Ford Motor Company, in Harbin, Heilongjiang province, China February 22, 2017. REUTERS/Stringer/File PhotoBEIJING, Aug 11 (Reuters) - Changan Ford Motor plans to set up a new-energy passenger car joint venture with state-owned Chongqing Changan Automobile (000625.SZ), according to a document published by China's market regulator on Friday. Changan Ford Motor will own a 60% stake and Chongqing Changan Automobile will have the remaining 40% stake. In the future, the joint venture plans to engage in the "supply business of mainstream brand new energy passenger vehicles and the distribution business of Ford brand models that Changan Ford has invested in," the statement said. Officials at Ford and Changan could not immediately be reached for further comment.

Persons: Changan Ford, Stringer, Ford, Tesla, Farah Master, Twinnie Siu, Zhang Yan, Ben Klayman, Louise Heavens, Susan Fenton Organizations: Changan Automobile, Ford Motor Company, REUTERS, Ford Motor, Chongqing Changan Automobile, Ford, China Association of Automobile Manufacturers, Thomson Locations: Harbin, Heilongjiang province, China, BEIJING, Chongqing, Changan, Hong Kong, Shanghai, Beijing, Detroit

☆ Chinese bourses improve trading mechanism to revive stock market
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

A man wearing a mask walks by the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China, February 3, 2020. REUTERS/Aly Song/File PhotoHONG KONG, Aug 10 (Reuters) - Shanghai and Shenzhen stock exchanges said late Thursday they would study measures to lower investors' trading costs and improve liquidity to further stimulate the market. They also came after China's securities regulators nudged mutual fund managers to cut fees to reduce trading costs. More specifically, investors trading stocks or listed funds would be allowed to place orders of a minimum of one share, or one unit. Such a change would reduce investors' costs, enable more efficient use of capital, and help improve market liquidity, the bourses said.

Persons: Aly, HONG KONG, bourses, Samuel Shen, Twinnie Siu, Bernadette Baum, Sam Holmes Organizations: Shanghai Stock Exchange, REUTERS, Thomson Locations: Pudong, Shanghai, China, HONG, Shenzhen, Beijing, Hong Kong

☆ Hong Kong plans widespread ban of Japanese sea products
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, July 11 (Reuters) - Hong Kong leader John Lee on Tuesday said the city will ban seafood products from a large number of Japanese prefectures if Tokyo goes ahead with a plan to discharge treated radioactive water from the crippled Fukushima plant into the ocean. Hong Kong is Japan's second-largest market for agricultural and fisheries exports. Hong Kong's current ban on shipments from one prefecture would "definitely" be expanded, said Lee, chief executive of the Hong Kong Special Administrative Region, at a media briefing. In 2022, Japan exported 75.5 billion yen ($536 million) in fishery products to Hong Kong, according to Japanese government statistics. ($1 = 140.8500 yen)Reporting by Farah Master, Jessie Pang and Twinnie Siu in Hong Kong, and Kantaro Komiya in Tokyo; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: John Lee, Lee, we'll, Hong, Farah Master, Jessie Pang, Twinnie Siu, Kantaro, Tom Hogue Organizations: International Atomic Energy Agency, IAEA, Hong, Administrative, Thomson Locations: HONG KONG, Kong, Tokyo, Hong Kong, Mainland China, China, Japan, South Korea, Fukushima

China's central bank said that financial regulators would fine Ant and its subsidiaries a total of 7.12 billion yuan, require it to stop operations of its crowdfunded medical aid service Xianghubao and compensate users. Reuters reported earlier, citing sources, that Chinese authorities intended to unveil its fine on Ant as early as Friday. The sources had earlier said that the fine on Ant had been revised to at least 8 billion yuan. Reuters reported in April that Chinese regulators were considering fining Ant about 5 billion yuan, a lower sum than what they initially had in mind. Alibaba was fined a record 18 billion yuan in 2021 for antitrust violations.

Persons: China c.bank, Ant, Ping, Rukim Kuang, Jack Ma, Jeffrey Towson, Pan Gongsheng, Pan, Didi Global, Alibaba, Julie Zhu, Jane Xu, Jason Xue, Kevin Huang, Meg Shen, Twinnie Sui, Josh Ye, Ethan Wang, Muralikumar Anantharaman, Brenda Goh, David Holmes, Susan Fenton Organizations: Ant, Singapore FinTech Festival, REUTERS, Ant Group, People's Bank of China, Reuters, Ping An Bank, PICC, HK, Postal Savings Bank, Tencent Holdings, Alibaba, Hong Kong, Financial Regulatory Administration, State Council, Lens Consulting, Thomson Locations: Singapore, China, HONG KONG, Ant's, Hong, Beijing, CHINA

Reuters reported earlier, citing sources, that Chinese authorities intended to unveil its fine on Ant as early as Friday. The National Financial Regulatory Administration (NFRA), a new government body under the State Council, is now the primary regulator to grant Ant the license, they added. The sources had earlier said that the fine on Ant had been revised to at least 8 billion yuan. Reuters reported in April that Chinese regulators were considering fining Ant about 5 billion yuan, a lower sum than what they initially had in mind. Alibaba was fined a record 18 billion yuan in 2021 for antitrust violations.

Persons: China c.bank, Ant, Ping, Rukim Kuang, Jeffrey Towson, Jack Ma, China's, Pan Gongsheng, Pan, Didi Global, Alibaba, Julie Zhu, Jane Xu, Jason Xue, Kevin Huang, Meg Shen, Twinnie Sui, Josh Ye, Ethan Wang, Muralikumar Anantharaman, Brenda Goh, David Holmes, Susan Fenton Organizations: Ant, Singapore FinTech Festival, REUTERS, Ant Group, People's Bank of China, Reuters, Ping An Bank, PICC, HK, Postal Savings Bank, Tencent Holdings, Tenpay, Alibaba, Hong Kong, Lens Consulting, Communist Party, Financial Regulatory Administration, State Council, Thomson Locations: Singapore, China, HONG KONG, Ant's, Hong, Beijing, CHINA

☆ Hong Kong May retail sales rise 18.4%, sees support from local consumption
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +3 min

The government launched a promotional campaign earlier in March called "Hello Hong Kong" to bring back tourists and businesses and also launched a "Happy Hong Kong" campaign in late May to boost local spending and the economy. "Retail sales should continue to improve in the coming months," a government spokesperson said. The city's industry body Hong Kong Retail Management Association launched "Happy Hong Kong Shopping Festival" from July 1 to August 31 with about 6,000 stores participating, offering discounts and other retail promotion to boost consumption. Among the arrivals, mainland Chinese visitors eased slightly to 2.29 million in May from 2.31 million in April, Hong Kong Tourism Board data showed. ($1 = 7.8342 Hong Kong dollars)Reporting by Donny Kwok and Twinnie Siu; Editing by Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.

Persons: Donny Kwok, Twinnie, Philippa Fletcher Organizations: HK, Hong, Hong Kong Retail Management Association, Hong Kong Tourism Board, Thomson Locations: HONG KONG, Hong, Hong Kong, China, COVID

☆ China's state planner signs letter of intent to cooperate with European corporate giants
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +2 min

BEIJING, June 21 (Reuters) - China's state planner this week signed letters of intent in Berlin on cooperation with European corporate heavyweights in areas ranging from aviation and chemicals to automobiles, as the world's second-largest economy seek to lobby for stronger ties with Europe. The Chinese state planner said it will work with the relevant companies to advance cooperation in areas including sustainable aviation fuel, low-carbon product production, and new-energy vehicles. Li, who was on his first overseas visit since becoming premier in March, had warned against any economic decoupling from Beijing. "Lack of cooperation is the biggest risk, and lack of development is the biggest insecurity," he said. Reporting by Ethan Wang and Ryan Woo in Beijing, Twinnie Siu in Hong Kong; Editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Premier Li Qiang, Li, Ethan Wang, Ryan Woo, Twinnie Siu, Jonathan Oatis Organizations: Airbus, BASF, Siemens, Benz, BMW, Volkswagen, China's National, Reform, Premier, European Union, Thomson Locations: BEIJING, Berlin, Europe, China, Germany, West, Beijing, Hong Kong

☆ Cathay Pacific to hire cabin attendants from mainland China from July
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, June 19 (Reuters) - Cathay Pacific Airways Ltd (0293.HK) said on Monday it would in July launch initiatives to improve Mandarin language and cultural understanding, including hiring cabin staff from mainland China, after three crew were fired over discrimination. The move came weeks after Cathay Pacific fired three flight attendants following passenger accusations of bias against non-English speakers, prompting criticism on Chinese state media. The discrimination incident in May went viral on mainland Chinese social media platforms and prompted a torrent of criticism by Chinese state media and Hong Kong government officials, including leader John Lee. At the time, a passenger on a flight from the southwestern Chinese city of Chengdu to Hong Kong wrote in an online post that flight attendants complained among themselves about passengers in English and Cantonese. They said the flight attendants made fun of others for asking for a carpet instead of a blanket in English.

Persons: Ronald Lam, John Lee, Twinnie Siu, Farah, Gerry Doyle Organizations: Cathay Pacific Airways Ltd, HK, Reuters, Cathay, Cathay Pacific, Thomson Locations: HONG KONG, China, Hong Kong, Chengdu

☆ Berkshire Hathaway sells $58.9 mln worth of shares in China's BYD
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: 1 min

HONG KONG, May 8 (Reuters) - Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 1.96 million Hong Kong-listed shares of electric vehicle maker BYD (002594.SZ) for HK$462.09 million ($58.9 million), a stock exchange filing showed. The sale on May 2 lowered Berkshire's holdings in BYD's issued H-shares to 9.87% from 10.05%, the filing to the Hong Kong stock exchange on Monday showed. ($1 = 7.8479 Hong Kong dollars)Reporting by Twinnie Siu and Meg Shen; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ New box jellyfish species found in Hong Kong's waters -study
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, April 19 (Reuters) - A Hong Kong university team said it has discovered a new species of box jellyfish in the city's Mai Po Nature Reserve, the first discovery of the venomous species in China's waters. Baptist University (HKBU) together with WWF-Hong Kong, Ocean Park Hong Kong and University of Manchester said on Tuesday that the team collected jellyfish samples from a brackish shrimp pond over 2020-2022 and found they contained a new species. Box jellyfish "are poorly known in Chinese marine waters. Our discovery of Tripedalia maipoensis in Mai Po - a relatively well-studied area in Hong Kong - highlights the rich diversity of marine life in Hong Kong and even the whole of China," he said. Box jellyfish, scientifically known as class Cubozoa, includes some of the highly venomous marine animals that are widely known in tropical waters, the study said.

In a filing on Thurday, JD.com said it would continue to hold a stake of more than 50% in the units, JD Industrials and JD Property, upon completion of the proposed spin-off. JD.com said the size and structure of its units' initial public offerings had not yet been finalised. Two sources with knowledge of the floats said the two JD units are seeking to raise $1 billion each in the IPO. In their listing prospectuses filed later on Thursday, JD Industrials and JD Property disclosed annual revenues of 14.1 billion yuan ($2.05 billion) and 2.3 billion yuan, respectively. UBS and Citic Securities are the financial advisers for JD Industrials, while UBS is the financial adviser for JD Property.

☆ China's JD.com to spin off industrial, property units in Hong Kong float
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, March 30 (Reuters) - Chinese e-commerce firm JD.com Inc (9618.HK) said on Thursday it planned to spin off its property and industrial units and list them on the Hong Kong Stock Exchange. Upon completion of the proposed spin off of JD Industrials and JD Property, JD.com said it would continue to indirectly hold more than 50% of the shares in both the units, which will remain as subsidiaries of the company. The size and structure of JD.com units' initial public offerings have not yet been finalised. The e-commerce firm, which missed fourth-quarter revenue forecasts, said earlier this month that rebuilding consumer confidence would take time after the lifting of strict pandemic-related curbs late last year. Reporting by Twinnie Siu in Hong Kong and Tiyashi Datta in Bengaluru; Editing by Sharon Singleton and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Shanghai exchange cancels Syngenta IPO hearing -filing
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, March 28 (Reuters) - The Shanghai Stock Exchange has cancelled a hearing to review Swiss agrichemicals and seeds group Syngenta's initial share offering (IPO) plan, a filing posted on the exchange showed. Syngenta, which planned to raise 65 billion yuan ($9.44 billion) in its Shanghai flotation, was bought for $43 billion by ChemChina in 2017 and folded into Sinochem Holdings Corp in 2021. The Shanghai exchange, which planned to conduct the hearing on Wednesday, did not provide a reason for the cancellation. Companies planning IPOs on the exchange need to appear before a panel for a hearing as a requirement for proceeding with their listing. ($1 = 6.8821 Chinese yuan renminbi)Reporting by Meg Shen and Twinnie Siu; editing by Jason Neely, Jane Merriman and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Thousands evacuated as fire hits warehouse in crowded Hong Kong district
▼ + stars: | 2023-03-24 | by ( Jessie Pang | Thomson Reuters | Jessie Pang Joined Reuters In After An Internship. She Covers Hong Kong With A Focus On Politics | ) www.reuters.com time to read: +1 min

[1/5] A firefighter walks next to a blaze at a warehouse in the city's bustling Kowloon district, in Hong Kong, China March 24, 2023. REUTERS/Tyrone SiuHONG KONG, March 24 (Reuters) - About 3,600 people were evacuated from buildings in Hong Kong's crowded Kowloon district on Friday as firefighters battled a blaze in a warehouse. The warehouse is owned by China Resources Group (1109.HK) but it was not clear what was being stored there. The state-owned company, which runs businesses from healthcare to consumer products such as beer, did not immediately respond to requests for comment. Police told Reuters that about 3600 people from nearby residential schools and buildings needed to be evacuated.

☆ Baidu's smart car business to test autonomous vehicles in Shanghai
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: 1 min

[1/2] The Apollo logo is seen on a car of Baidu's driverless robotaxi service Apollo Go, in Wuhan, Hubei province, China February 24, 2023. REUTERS/Josh Arslan/File PhotoHONG KONG, March 22 (Reuters) - Apollo, Chinese tech giant Baidu's (9888.HK) smart car business, has received approval to be among the first companies to test fully autonomous vehicles in Shanghai, China's largest city, it said on Wednesday. The business currently operates driverless robotaxi services in specially designated areas of Wuhan, Chongqing and Beijing. Reporting by Twinnie Siu and Eduardo Baptista Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Cathay shares rose as much as 1.4% to HK$7.95 after the results were released, reversing the morning's declines as investors bet on a turnaround following heavy losses during the pandemic. "After three brutal years of the COVID-19 pandemic, we have finally entered into a new exciting phase, in which we will rebuild Cathay Pacific for Hong Kong." [1/5] A Cathay Pacific Airways Airbus A350-900 airplane approaches to land at Changi International Airport in Singapore June 10, 2018. Cathay said it was operating about one-third of pre-pandemic passenger flight capacity by December and ended the year operating passenger flights to 58 destinations, double the 29 destinations the airline flew to in January 2022. It would operate at about 70% of its pre-pandemic passenger flight capacity by the end of 2023, with an aim to return to pre-pandemic levels by the end of 2024.

☆ China opposes U.S. adding Chinese firms to trade blacklist
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: 1 min

HONG KONG, March 3 (Reuters) - China opposes the United States adding several Chinese firms to its trade blacklist, China's commerce ministry said on Friday. China urges the United States to stop using any excuse to suppress Chinese firms, the ministry said in a statement posted on its website. The U.S. Commerce Department, which oversees export controls, recently added two units of genetics company BGI (300676.SZ) to the export control list. Reporting by Meg Shen and Twinnie SiuOur Standards: The Thomson Reuters Trust Principles.

☆ China to fully resume travel with Hong Kong, Macau on Feb 6
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, Feb 3 (Reuters) - China said on Friday that cross border travel between the mainland, Hong Kong and Macau would fully resume from Feb. 6, dropping existing quotas and scrapping a mandatory COVID-19 test that was required before travelling. Group tours between China and its two special administrative regions of Hong Kong and Macau would resume, while the number of customs checkpoints open will return to pre-pandemic levels, China's Hong Kong and Macau Affairs Office said in a statement on its website. Even after China reopened its borders to the world on Jan. 8, a quota system and COVID testing requirement remained for travellers between the mainland and Hong Kong. Hong Kong dropped most of its remaining COVID rules in December, but mask-wearing remains mandatory unless exercising, and students must take daily rapid antigen tests. Reporting by Farah Master and Twinnie Siu in Hong Kong, Liz Lee in Beijing and the Beijing newsroom; Editing by Christian Schmollinger and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Berkshire Hathaway sells $44.9 mln of shares in China's BYD
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Rick Wilking/File PhotoFeb 2 (Reuters) - Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 1.55 million Hong Kong-listed shares of electric vehicle maker BYD (002594.SZ) for HK$351.81 million ($44.85 million), a stock exchange filing showed. The sale lowered Berkshire's holdings in BYD's issued H-shares to 12.9% on Jan. 27, down from 13.04%, the filing to the Hong Kong Stock Exchange showed on Thursday. Berkshire, which started selling the BYD shares in late August, has accumulatively reduced its holding by more than a third. Buffett's company acquired 225 million BYD shares in 2008, giving it a 7.73% stake, equal to the 20.49% stake in H shares, according to BYD's annual report. ($1 = 7.8434 Hong Kong dollars)Reporting by Twinnie Siu and Zhang Yan; editing by Jason Neely Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

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