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☆ Top EU official warns on 'weaponization of trade' as tensions ramp up between the U.S. and China
▼ + stars: | 2024-04-17 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Valdis Dombrovskis, Vice-President of the European Commission for the Euro & Social Dialogue, photographed at the Renaissance Harbour View Hotel in Wan Chai. 02DEC17 SCMP/ Xiaomei Chen (Photo by Chen Xiaomei/South China Morning Post via Getty Images)The European Union's trade chief on Wednesday warned against the "weaponization" of trade amid the latest ratcheting up of tensions between the U.S. and China. EU trade commissioner Valdis Dombrovskis told CNBC that he did not believe trade "protectionism" was the answer to heightened geopolitical tensions, but insisted that the bloc was willing to defend itself in the new trade environment. "The geopolitical landscape is changing, it's getting more fragmented, it's getting more conflictual, we see the weaponization of trade. So we need to equip ourselves also as the European Union to function in this more conflictual world," Dombrovskis told CNBC's Karen Tso.

Persons: Valdis Dombrovskis, 02DEC17, Xiaomei Chen, Chen Xiaomei, Dombrovskis, Karen Tso, Mario Draghi, Joe Biden, Katherine Tai Organizations: European Commission, South China Morning, Getty, U.S, CNBC, European Union, European Central Bank, U.S . Trade Locations: Wan Chai, South, China, EU, Pennsylvania, U.S

☆ Hong Kong hunkers down as super typhoon Saola approaches
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] A girl reads a book at a bookstore, which windows are taped in anticipation of typhoon Saola in Hong Kong, China August 31, 2023. REUTERS/Tyrone Siu Acquire Licensing RightsHONG KONG, Sept 1 (Reuters) - Hong Kong braced for the arrival of super typhoon Saola on Friday as authorities raised the strong wind signal to No.8, bringing the city to an effective standstill with most businesses, schools and the stock exchange shut. Saola is expected to skirt within 100km (60 miles) of Hong Kong on Friday night and Saturday morning, causing weather conditions to deteriorate rapidly, the city's weather observatory said. Hong Kong has five rankings for typhoons, 1, 3, 8, 9 and 10, which is the strongest hurricane signal. All schools in Hong Kong will be closed on Friday, despite being the first day of term for many, the government said.

Persons: Tyrone Siu, Hong Kong, Farah Master, Ben Blanchard, Lincoln Organizations: REUTERS, Tyrone, Supermarkets, Kong's, Cathay Pacific, Weather Bureau, Thomson Locations: Hong Kong, China, HONG KONG, Guangdong, Hong, Wan Chai district, Taiwan, Fuzhou, Taipei

☆ 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

☆ Japanese restaurant owners in Hong Kong brace for Fukushima seafood ban
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +3 min

HONG KONG, Aug 22 (Reuters) - Japanese restaurant owners in Hong Kong are grappling with a looming ban on seafood imports from 10 Japanese prefectures because of Tokyo's plan to release treated water from the crippled Fukushima plant into the sea from Aug. 24. Hong Kong is Japan's second largest market, after mainland China, for agricultural and fisheries exports. Although the details of Hong Kong's ban remains unclear, Halry Yu, 42, owner of Japanese restaurant Hassun, said more than 90% of seafood sent to Hong Kong is gathered in Tokyo. “If they ban imports that come via Tokyo, I think all sushi restaurants in Hong Kong will be in trouble. Advertising executive Hilda Lee, 30, said she enjoys eating Japanese seafood, and dines at Japanese restaurants two to three times each month.

Persons: Hong, Halry Yu, ” Yu, barbecued, Yu, Hong Kong, Hilda Lee, dines, Lee, Jim Smith, there's, Smith, Dino Leung, Leung, Edmond Ng, Joyce Zhou, Farah, Gerry Doyle Organizations: Japan, Hong, University of Portsmouth, Thomson Locations: HONG KONG, Hong Kong, China, Japan, Tokyo, Osaka, Hong, Fukushima, Chiba, Tochigi, Ibaraki, Gunma, Miyagi, Niigata, Nagano, Saitama, Wan Chai

☆ Asia markets extend declines as U.S. jobs data triggers sell-off on Wall Street
▼ + stars: | 2023-07-07 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Red lanterns are hung up on the street in Wan Chai, Hong Kong. (Photo by Zhang Wei/China News Service via Getty Images)Markets in Asia-Pacific marked a second day of declines after Wall Street sold off on stronger-than-expected U.S. jobs data, leaving room for more rate hikes ahead by the Federal Reserve. Private sector jobs surged by 497,000 for the month, much better than the 220,000 Dow Jones consensus estimate. The data also followed minutes of the Federal Reserve's June meeting, released Wednesday, which showed that most officials would support more rate increases ahead. In South Korea, the Kospi slid 0.51% as Samsung Electronics estimated a 96% likely plunge in its second quarter operating profit.

Persons: Zhang Wei Organizations: China News Service, Getty, Federal Reserve, Companies, Dow Jones, Nikkei, Samsung Electronics Locations: Wan Chai, Hong Kong, Asia, Pacific, South Korea, Australia

☆ Hong Kong court charges four with criminal damage after BYD offices vandalised
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, June 19 (Reuters) - A Hong Kong court on Monday charged four men with criminal damage to property at showrooms and a service centre of Chinese automaker BYD Co Ltd after they were vandalised last week in the financial hub. The men arrested were all of Chinese nationality and aged between 29-48 years, according to charge-sheets released by the court. None of them made any pleas in the court on Monday. All will be kept in the custody of the correctional services department until the next hearing on July 17. Police said last week that there was no evidence that the men had deliberately targeted the mainland auto brand and that an investigation was ongoing.

Persons: JC Motor, Jessie Pang, Farah Master, Muralikumar Organizations: Hong, BYD, Reuters, Police, Thomson Locations: HONG KONG, Hong Kong, Wan Chai, Sha Tsui, Kowloon, Tin Shui, New Territories

☆ Chinese automaker BYD reopens two Hong Kong showrooms after vandalism
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

[1/2] A woman walks past a splattered BYD store while police cordons are visible at the scene in Hong Kong, China June 12, 2023. REUTERS/Joyce Zhou/File PhotoCompanies BYD Co Ltd FollowHONG KONG, June 14 (Reuters) - Chinese automaker BYD Co Ltd has restarted operations at two showrooms and a service centre in Hong Kong after they were vandalised earlier this week, BYD's sole agent said in a notice on its website on Wednesday. Its showrooms in the districts of Wan Chai on Hong Kong island and Tsim Sha Tsui in Kowloon, as well as its service centre in Tin Shui Wai in the New Territories, had resumed normal operations, it added. JC Motor did not immediately respond to Reuters' request for comment on the cause and impact of the vandalism. Two BYD showrooms and a service centre in Hong Kong were daubed with red paint, while a car also rammed into the roller shutter at its Yuen Long showroom in the early hours of Monday, causing damage, police told Reuters.

Persons: Joyce Zhou, BYD's, Yuen Long, JC, Donny Kwok, Jacqueline Wong Organizations: REUTERS, BYD, Motor, JC, Reuters, Thomson Locations: Hong Kong, China, HONG KONG, Yuen, New Territories, Wan Chai, Sha Tsui, Kowloon, Tin Shui

☆ Hong Kong stocks enter bear market territory as China reopening optimism continues to fade
▼ + stars: | 2023-05-31 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Zhang Wei | China News Service | Getty ImagesStock Chart Icon Stock chart iconThe Hang Seng Tech index has already fallen by more than 25% from its January peak. That's a stark contrast to the reopening optimism that had once driven Asia-Pacific's benchmark MSCI Asia Pacific index to a bull market. watch nowMorgan Stanley analysts said in a May 17 report that a weak reading in that manufacturing measure "has been a solid precursor to policy easing." "If growth does not accelerate sufficiently to narrow the output gap, social stability risk may rise and eventually trigger more meaningful stimulus," Morgan Stanley analysts wrote in the note. The index for services activity remained in expansionary territory at 54.5, but marked a second-straight month of decline.

Persons: Zhang Wei, Morgan Stanley Organizations: China News Service, Getty, Hang, Seng China Enterprises, Analysts, China, CNBC, National Bureau, Statistics Locations: Hong, Wan Chai district, Asia, Hong Kong

☆ Hong Kong to scrap COVID mask mandate from March 1
▼ + stars: | 2023-02-28 | by ( Farah Master | ) www.reuters.com time to read: +2 min

The special administrative region of Hong Kong is one of the last places globally that still imposes a mask mandate. Hong Kong and Macau both followed China's zero-COVID policy for much of the past three years. Hong Kong started unwinding its stringent COVID rules last year but mask-wearing has remained constant since 2020. People wearing face masks walk through Wan Chai during the coronavirus disease (COVID-19) pandemic in Hong Kong, China, April 14, 2022. Reporting by the Hong Kong newsroom; Writing by Farah Master; Editing by Shri Navaratnam and Michael PerryOur Standards: The Thomson Reuters Trust Principles.

☆ How China planted an FBI mole who was discovered only after gutting the CIA's vast spy network
▼ + stars: | 2023-01-18 | by ( James Bamford | ) www.businessinsider.com time to read: +25 min

At the time, four years after the handover from Britain to China, much of Hong Kong remained a world of neon and noise. "Five years ago, everyone looked down on you if you spoke Mandarin," said a Beijing executive living in Hong Kong. As soon as the Hong Kong Arts Festival ended, the Hong Kong International Film Festival began. In February 2006, Alex Ma, China's mole in the FBI, sent David photos he received from his handlers of five suspected human sources. Born in Hong Kong like Alex, Lee grew up in Hawaii and became a naturalized U.S. citizen.

☆ Lenders fail to sell Evergrande's Hong Kong headquarters by tender - sources
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly SongHONG KONG, Jan 3 (Reuters) - The tender sale of embattled China Evergrande Group's (3333.HK) Hong Kong headquarters has lapsed again, two sources with knowledge said, because the offer prices and terms did not meet requirements. Chinese state-owned China Citic Bank Corp Ltd (601998.SS), whose Hong Kong subsidiary leads the lender group, did not immediately respond to request for comment. Evergrande and Savills, agent for the tender sale, declined to comment. ($1 = 7.8102 Hong Kong dollars)Reporting by Clare Jim; Additional reporting by Ziyi Tang in Beijing; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Tender sale of Evergrande's Hong Kong headquarters fails again -sources
▼ + stars: | 2023-01-03 | by ( Clare Jim | ) www.reuters.com time to read: +2 min

[1/2] The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly SongHONG KONG, Jan 3 (Reuters) - A tender for the sale of embattled China Evergrande Group's (3333.HK) headquarters in Hong Kong has lapsed again, two sources with knowledge of the matter said on Tuesday, because the offer prices and terms fell short of requirements. The tower had been pledged against a loan of HK$7.6 billion from lenders led by the Hong Kong subsidiary of Chinese state-owned China Citic Bank Corp Ltd (601998.SS). Evergrande and Savills, the agent for the tender sale, declined to comment. ($1=7.8102 Hong Kong dollars)Additional reporting by Ziyi Tang in Beijing; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Even home remedies such as canned peaches are being snapped up by people looking for ways to fight Covid. Macao is another special administrative region of China, while Zhuhai is a southern mainland Chinese city which it borders. Current rules don’t allow medicines to be mailed directly from Hong Kong to mainland China, according to the salespersons. Sending agents directly from Hong Kong, which also shares a land border with the mainland, isn’t feasible due to a lack of available agents, Simon said. In Macao, the drug regulator ordered pharmacies last week to limit purchases of pain relievers, fever medicines and antigen test kits.

☆ China scraps tracking app as it relaxes strict 'zero-Covid' rules
▼ + stars: | 2022-12-12 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

China will drop a travel tracing requirement as part of an uncertain exit from its strict “zero-Covid” policies that have elicited widespread dissatisfaction. It’s part of a package of apps that includes the health code, which has yet to be disabled. Facing a surge in Covid-19 cases, China is setting up more intensive care facilities and trying to strengthen hospitals’ ability to deal with severe cases. At midnight on Monday, the smart phone app will cease to function, meaning residents’ travels will not be traced and recorded. Many believed Covid-19 restrictions may have impeded rescue efforts.

☆ Hong Kong's Hang Seng had its best month since 1998, but remains in bear market territory
▼ + stars: | 2022-12-02 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

Strategists at Goldman Sachs said from February 2021 to October 2022, the Hang Seng index saw a "systemic correction," which the firm defines as a fall of 40% or more. Next key levelsAnalysts at Weiss Multi-Strategy Advisers said, "November may, in hindsight, be viewed as a key turning point for Chinese equities," noting the Hang Seng China Enterprise index and the property sector saw significant gains. After its November gains, the Hang Seng index hovered around 18,600 – a level of resistance according to market watchers. "With the 18,600 level of resistance being overcome for the Hang Seng Index, that could seem to place the key psychological 20,000 level on watch," IG market strategist Yeap Jun Rong said in a Thursday note. The HSI last fell below the 20,000 level in August, and analysts expect to see a continued rebound in the equity market on further signs that the nation will shift away from zero-Covid.

☆ Tender to sell Evergrande's Hong Kong headquarters to close on Oct 31
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +1 min

The Evergrande Center of China Evergrande Group is seen amid other buildings in Shanghai, China, September 24, 2021. REUTERS/Aly Song/File PhotoHONG KONG, Sept 26 (Reuters) - A tender sale of China Evergrande Group's (3333.HK) headquarters in Hong Kong will close on Oct. 31, real estate services firm Savills said, appointed by receivers to dispose of the asset. Lenders of struggling Evergrande appointed receiver Alvarez and Marsal earlier this month to seize the China Evergrande Center in Hong Kong, a Companies Registry filing showed, as the world's most indebted developer struggles to emerge from its debt crisis. read moreSavills said in a statement on Sunday the sale of the 27-storey office tower in the Wan Chai district will include existing tenancies. Register now for FREE unlimited access to Reuters.com RegisterReporting by Clare Jim; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

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