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☆ America's X-37B vs. China's Shenlong: Top space planes and their shadowy role in orbital war
▼ + stars: | 2024-08-24 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +13 min

Jeremy Webster/US Air ForceX-37BA space plane is a reusable spacefaring craft that can maneuver in space independently and also fly and glide within Earth's atmosphere. The most well-known space planes are the American Space Shuttle and the Soviet Buran. The program is surrounded in such extreme secrecy that there are no known images of the space plane in its current form. Though the exact start date is unknown, academic models of a Chinese space plane were reported as far back as 2000. AdvertisementOne of the most impactful possible uses of the space planes is as anti-satellite assets.

Persons: —, Jeremy Webster, NASA's, Timothy Kirchner, NASA foresees, Wang Jiangbo, Paul Hennessy, NurPhoto, Shenlong, spaceplanes, Nick Hague, Benjamin Brimelow Organizations: Service, Business, Kennedy Space Center, Landing, US Air Force, American Space Shuttle, Soviet, Space Shuttle, NASA, Boeing, US Defense Department, Defense, Research Projects Agency, DARPA, United States Air Force Space Command, Orbital, NASA's Kennedy Space Center, Atlas V, U.S . Space Force, . Air Force, Space Force, Force, Getty, Cape Canaveral Air Force, China Aerospace Science, Technology Corporation, US Department of Defense, Global Affairs, Fletcher School of Law, Diplomacy, Modern, Institute Locations: United States, China, U.S, Xinhua, US, India, Russia, West

☆ China securities official expected to lead Shenzhen stock exchange, Reuters reports
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: +2 min

A woman walks by the gate of the Shenzhen Stock Exchange on Aug. 20, 2020 in Shenzhen, Guangdong Province of China. VCG | Visual China Group | Getty ImagesChina is expected to appoint a senior securities official to head its second-largest bourse, four sources said, filling a role that has been vacant for the unusually long period of seven months as the securities regulator reshuffled its leadership. Li Jizun, a civil servant who is now director of the general office at the China Securities Regulatory Commission (CSRC), is set to become general manager of the 27-trillion-yuan ($3.73-trillion) Shenzhen Stock Exchange, the sources said. The CSRC and the Shenzhen exchange did not immediately respond to a faxed request for comment. Sha had worked at the securities regulator for more than two decades before taking over at the Shenzhen exchange in mid-2020, after her predecessor Wang Jianjun was promoted to the party chief role before returning to the regulator as a vice chairman.

Persons: Li Jizun, Li, Sha Yan, Sha, Wang Jianjun Organizations: Shenzhen Stock Exchange, Visual China, Getty, bourse, China Securities Regulatory Commission, State Council, Shanghai's Nasdaq, Communist Party Locations: Shenzhen, Guangdong Province of China, China, Beijing, U.S

☆ Guilty Verdict for Chinese Activists Who Gave #MeToo Victims a Voice
▼ + stars: | 2024-06-14 | by ( Alexandra Stevenson | Zixu Wang | ) www.nytimes.com time to read: +1 min

A court in southern China on Friday found a prominent feminist journalist guilty of endangering national security and sentenced her to five years in prison, Beijing’s latest blow to civil society. A labor activist convicted of the same charge got a sentence of three years and six months. The activities that prompted the arrest and conviction of the two, Huang Xueqin and Wang Jianbing, involved organizing discussions, providing support to other activists and receiving overseas training. The legal action against Ms. Huang and Mr. Wang, which experts said was harsh even by China’s standards, signals the shrinking space for independent discussion of social issues. “We are seeing an almost zero-tolerance approach to even the mildest forms of civil society activism in China,” said Thomas Kellogg, the executive director of the Georgetown Center for Asian Law.

Persons: Huang Xueqin, Wang Jianbing, Huang, Wang, ”, Thomas Kellogg Organizations: Guangzhou, People’s, Borders, Protect Journalists, Georgetown Center, Asian Law Locations: China

☆ Huang Xueqin: China #MeToo journalist sentenced to five years in prison, supporters say
▼ + stars: | 2024-06-14 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

Huang Xueqin, an independent journalist, was found guilty by the Guangzhou Intermediate People’s Court Friday for “inciting subversion of state power,” supporters said. “There are so few people prosecuted because there are only so few victims who report,” she told CNN in a 2018 interview. In the months following their detention, more than 70 friends and supporters of Huang and Wang were summoned by the police for questioning, according to supporters. A close friend of Huang previously told CNN the journalist had suffered significant weight loss in detention and stopped menstruating for months. I have no sense of belonging anymore,” the friend told CNN last year ahead of the closed-door trial.

Persons: Huang Xueqin, ”, Wang Jianbin, Huang, Wang, “, ” Huang, Huang’s, menstruating, it’s Organizations: Hong Kong CNN, Communist, Guangzhou, Labor, CNN, University of Sussex, Amnesty International, Communist Party Locations: Hong Kong, China, Guangzhou, United Kingdom

☆ China is trying to overcome weaknesses in its military by 'aggressively recruiting' Western pilots to train its aviators, Five Eyes intel allies warn
▼ + stars: | 2024-06-05 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Read previewChina is "aggressively recruiting" Western military personnel to train its air force pilots and naval aviators, attempting to lure them in with "lucrative" contracts and promises of opportunities to fly "exotic aircraft," the US and its allies are warning. Related storiesChinese schemes target Western pilots, flight engineers, air operations center personnel, and technical experts knowledgeable about military tactics, techniques, and procedures. The Chinese military "wants the skills and expertise of these individuals to make its own military air operations more capable while gaining insight into Western air tactics, techniques, and procedures," the newly released bulletin said. Advertisement"The insight the PLA gains from Western military talent threatens the safety of the targeted recruits, their fellow service members, and US and allied security," it added. Despite efforts from Western governments to warn its veterans and military personnel about the Chinese poaching efforts, the recruitment continues to evolve, the bulletin noted.

Persons: —, New Zealand —, Michael Casey, Chen Jimin, Casey, Wang Jingtian Organizations: Service, New Zealand, NATO, People's Liberation Army, Business, PLA, US National Counterintelligence and Security, Zhuhai Air Show, China News Service, Getty, US, Job, US Marine Corps Locations: China, Canada, Australia, New, Beijing, Washington, Changchun, China's Jilin Province

☆ Guo Wengui chief of staff Yvette Wang pleads guilty to $1 billion fraud conspiracy in New York
▼ + stars: | 2024-05-03 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Fugitive Chinese billionaire Guo Wengui hold a news conference on November 20, 2018 in New York, on the death of of tycoon Wang Jian in France on July 3, 2018. The chief of staff to controversial exiled Chinese businessman Guo Wengui pleaded guilty in New York on Friday to a fraud conspiracy that swindled more than $1 billion from hundreds of thousands of victims around the world, prosecutors said. Yvette Wang's plea came weeks before the 53-year-old Guo is set to stand trial in Manhattan federal court for related charges. Wang was scheduled to stand trial with Guo in that case before her plea. She faces a maximum possible sentence of 10 years in prison for the charges of conspiracy to commit wire fraud, and conspiracy to commit money laundering.

Persons: Guo Wengui, Wang Jian, Yvette Wang's, Guo, Wang, Steve Bannon, Damian Williams Organizations: Trump White House, Manhattan U.S Locations: New York, France, Manhattan, United States

BANGKOK (AP) — Asian shares were mixed on Wednesday after Japan reported its exports jumped nearly 10% in December, though shares in Tokyo declined. Hong Kong’s Hang Seng surged 2% to 15,569.39, helped by gains in technology companies like e-commerce giant Alibaba, which surged 3.8%. The index rose 0.3% to 4,864.60. United Airlines flew 5.3% higher after it also reported stronger profit for the last three months of 2023 than analysts expected. Among Tuesday’s headliners was Verizon Communications, which rose 6.7% after beating analysts’ profit estimates.

Persons: Wang Jiangjun, Hang Seng, ” Gabriel Ng, India's Sensex, Gamble, D.R, Horton, Brent Organizations: Japan, China Securities Regulatory Commission, Capital Economics, Nikkei, Bank of, Nasdaq, Dow Jones, Procter, United Airlines, Boeing, Max, Tesla, Intel, Verizon Communications, General Electric, Analysts, Federal Reserve, Treasury, New York Mercantile Exchange, U.S Locations: BANGKOK, Tokyo, China, Shanghai, Bank of Japan, South Korea, Australia, Bangkok

☆ 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

☆ Chinese leaders defend state of economy at global finance summit in Hong Kong
▼ + stars: | 2023-11-07 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Senior Chinese officials have defended the state of the world’s second largest economy at a conference in Hong Kong, telling global financiers not to worry about prospects in China despite an uneven recovery and ailing property market. “Since the beginning of the year, China’s economy has been picking up in general,” He said Tuesday at the Global Financial Leaders’ Investment Summit, which was organized by the Hong Kong Monetary Authority, the city’s de facto central bank. “Global investors have some concerns about China’s economy, including the pace of economic recovery, problems with property markets, and local government debt. “The potential of the Chinese economy remains promising,” he told the audience, which included the heads of Goldman Sachs, Citi and Morgan Stanley. A discussion on China at the Global Financial Leaders' Investment Summit in Hong Kong on Tuesday.

Persons: Lifeng, ”, Zhang Qingsong, ’ ”, “, Zhang, Goldman Sachs, Morgan Stanley, Peter Parks, ” Wang Jianjun, Wang Organizations: Hong Kong CNN — Senior, Global, ’ Investment, Hong Kong Monetary Authority, People’s Bank of China, “ Global, Citi, Monetary Fund, Global Financial, Investment, Getty, China Securities Regulatory Commission, Stock Connect Locations: China, Hong Kong, AFP

☆ China's J-20 stealth jet isn't 'a dominating aircraft,' but it doesn't need to be for what China's military has planned
▼ + stars: | 2023-10-29 | by ( Christopher Woody | ) www.businessinsider.com time to read: +10 min

China's air force continues to improve and expand its fleet of J-20 stealth fighter jets. The J-20 is China's first stealth jet and a growing part of an already sizable aviation force. China's air force and navy now make up the largest aviation force in the region and the third largest in the world. They have a total of 1,900 fighter jets, including J-20s that have been "operationally fielded" by China's air force, according to the US Defense Department. AdvertisementAdvertisementA Chinese jet, believed to be a J-20 prototype, in Chengdu in January 2011.

Persons: —, Wang Jingtian, We've, Brendan Mulvaney, Mulvaney, they've, Rick Joe, Zhang Hui, Kenneth Wilsbach, Wilsbach, Jia Tianyong, Rong Xu Organizations: Service, US Defense Department, US Air Force, Beijing, Getty, WS, Reuters, China Aerospace Studies Institute, Department of, US Pacific Air Forces, Air and Space Forces Association, Air Show, China News Service, Getty Images China, People's Liberation Army, PLA, People's Republic of China, US Air, Pentagon Locations: China, East China, Pacific, Taiwan, Changchun, Chengdu, People's Republic of, China's, Xiamen, Zhuhai, American

☆ Founder of discount e-shopping firm PDD races up China's rich list
▼ + stars: | 2023-10-24 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +3 min

Colin Huang, who founded PDD in 2015 and stepped down as CEO in 2020, was the fastest riser in this year's Hurun Rich List, leaping seven places to be ranked China's third richest man with a $37.2 billion fortune. Richard Liu, who founded e-commerce giant JD.com, also saw his wealth, and that of his wife Zhang Zetian, fall by $6.2 billion since last year to $8.26 billion, according to Hurun's list. JD.com's shares fell to a record low earlier this month after banks cut its price targets citing a weaker-than-expected recovery in consumer spending. Hui Ka Yan is currently being investigated over suspected "illegal crimes", Evergrande said last month. Reporting by Casey Hall; editing by Brenda Goh and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Colin Huang, Yin Liqin, Rich, Jack Ma, Alibaba, Richard Liu, Zhang Zetian, Rupert Hoogewerf, PDD's Temu, Zhong Shanshan, Pony Ma, Hurun, Wang Jianlin, Hui Ka Yan, Evergrande, Casey Hall, Brenda Goh Organizations: Nasdaq, REUTERS, Rights, PDD Holdings, PDD, HK, Hurun, Dalian Wanda Group, China Evergrande, Thomson Locations: New York, Shanghai, China

Seoul/Hong Kong CNN —When Hwang Ji-sun, 52, first joined the assembly line at South Korean carmaker Hyundai 22 years ago, women like her had it tough. A wider problemDespite the incremental improvements, South Korea still has widespread problems of gender-based exclusion and low pay, researchers say. Gita Gopinath, first deputy managing director of the International Monetary Fund (IMF), has proposed South Korea adopt new measures to help keep women in the workforce. Making childcare more affordable, lowering the number of working hours or allowing more flexible arrangements is key, she told a South Korean forum last September. In a culturally conservative society like South Korea, much more needs to be done to change perceptions about women in male-dominated professions, according to Hwang.

Persons: Hong Kong CNN —, Hwang Ji, Hwang —, ”, Jung Sungmi, Hwang, Yasuyoshi Chiba, PIIE, Gita Gopinath, Roh Helena, “ Organizations: Hong Kong CNN, Hyundai, Korea Metal Workers ’ Union, CNN, ”, Economic Co, Development, Korean Women’s Development, Getty, US Bureau of Labor Statistics, country’s Ministry of Employment, Labor, Peterson Institute for International Economics, International Monetary Fund, South, “, Korean Women Workers Association, Hyundai Motor Locations: Seoul, Hong Kong, South Korea, Ulsan, United States, Turkey, India, Indonesia, AFP, South, Korea, South Korean

After two years in detention, a Chinese journalist who spoke up against sexual harassment stood trial on subversion charges on Friday along with a labor rights activist, the latest example of Beijing’s intensified crackdown on civil society. Huang Xueqin, an independent journalist who was once a prominent voice in China’s #MeToo movement, and her friend Wang Jianbing, the activist, were taken away by the police in September 2021 and later charged with inciting subversion of state power. Their trial was held at the Guangzhou Intermediate People’s Court in southern China. Little is known about the government’s case, but the vaguely worded offense with which the two were charged has long been seen as a tool for muzzling dissent. A steady stream of activists, lawyers, tycoons and intellectuals have been put on trial and sentenced.

Persons: Beijing’s, Huang Xueqin, Wang Jianbing, Xi Jinping, Huang Organizations: People’s, Communist Party, Human Rights Locations: Chinese, Guangzhou, China

BEIJING, Sept 22 (Reuters) - A leading activist in China's #MeToo movement went on trial for subversion on Friday, according to several diplomats and a spokesperson for a campaign group calling for her release. The day before her arrest, Huang had been scheduled to fly to Britain to begin a master's degree at the University of Sussex on a British government-funded scholarship, the campaign group spokesperson said. Huang, an independent journalist who covered Chinese #MeToo allegations and the 2019 Hong Kong anti-government protests, had been detained by Chinese police for three months in late 2019. The campaign group spokesperson said the charges of sedition against her and Wang were based on the gatherings the two activists often held for Chinese youth during which they discussed social issues. The police did not respond to a faxed request to comment on the allegations made by the campaign spokesperson.

Persons: Huang Xueqin, Wang Jianbing, Huang, Wang, Laurie Chen, Miral Organizations: People's, University of Sussex, Police, British Foreign Office, Hong, Thomson Locations: BEIJING, China's, Guangzhou, United States, Britain, Germany, France, Netherlands, Beijing, Hong Kong

☆ Huang Xueqin: Chinese activists expected to appear in secret trial as civil society crackdown deepens
▼ + stars: | 2023-09-21 | by ( Nectar Gan | ) edition.cnn.com time to read: +5 min

Independent journalist and #MeToo activist Huang Xueqin and labor rights activist Wang Jianbing were detained by authorities in the southern city of Guangzhou in September 2021. Rights advocates say Huang and Wang are unlikely to receive a fair trial in a judicial system controlled by the party with a conviction rate above 99.9%. Wang Jianbing, a labor rights activist, was detained along with #MeToo activist Huang Xueqin in September 2021. #FreeXueBing/AP/FILE‘Isolated atoms’A close friend of Huang told CNN the journalist had suffered significant weight loss in detention and stopped menstruating for months. In the months following their detention, more than 70 friends and supporters of Huang and Wang were summoned by the police for questioning, according to supporters.

Persons: Huang Xueqin, Wang Jianbing, Huang, Wang, ”, William Nee, “ Huang, ” Nee, menstruating, Huang’s, –, “, it’s, ’, Sarah Brooks Organizations: Hong Kong CNN, Communist, People’s, CNN, Rights, Human, Guangzhou Public Security, University of Sussex, Authorities, Human Rights, Amnesty Locations: China, Hong Kong, Guangzhou, United Kingdom, “

☆ Three rescued after sharks attack inflatable yacht off Australian coast
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

[1/5] Vincent Thomas Etienne, Evgeny Kovalevsky and Stanislav Berezkin, the three people rescued after sharks attacked a yacht off the Australian coast, pose for a photo in Vanua Levu Island, Fiji July 31, 2023. Satellite photos and a video on the AMSA website showed a large part of the stern of the yacht torn away. Rescue crews responded to an emergency positioning beacon registered to the Tion, a nine-metre inflatable catamaran on a round-the-world expedition, early on Wednesday morning. "The only thing is that the balloons of the inflatable catamaran were blown away." The crew continued the expedition on an inflatable catamaran by the same manufacturer that had been stored on the island for several years.

Persons: Vincent Thomas Etienne, Evgeny Kovalevsky, Stanislav Berezkin, AMSA, Anna Kosikhina, Kosikhina, Renju Jose, Wang Jiawei, Mahezabin Sayed, Alasdair Pal, Michael Perry Organizations: REUTERS, Rights, Australian Maritime Safety Authority, Thomson Locations: Vanua Levu, Fiji, Australia, Vanuatu, Cairns, Panama, Brisbane, Russia, Siberia, Chile, Easter, Sydney

Coins and banknotes of China's yuan are seen in this illustration picture taken February 24, 2022. Country Garden, China's largest private developer by sales, did not immediately respond to Reuters request for comment. Lower deposit rates will partially offset various pressures on banks' narrowing net interest margins - a key gauge of profitability, said Nicholas Zhu, a banking analyst at Moody's. "The impact of the deposit rate cut is material, given that close to three-quarters of Chinese banks' liabilities are deposits," Zhu said. China's mortgage loans totalled 38.6 trillion yuan ($5.29 trillion) at the end of June, representing 17% of banks' total loan books.

Persons: Florence Lo, Nicholas Zhu, Zhu, Ziyi Tang, Ryan Woo, Wang Jing, Davide Barbuscia, Anne Marie Roantree Organizations: REUTERS, HK, Industrial, Commercial Bank of China, China Construction Bank Corp, Agricultural Bank of China, Reuters, Industrial Bank Co Ltd, China Bohai Bank Co Ltd, Thomson Locations: BEIJING, Beijing, China, Washington, Guangzhou, Shenzhen, New York, Lincoln

Many economists have called on China to boost its social safety net to rebalance the economy. Yao was unswayed and would prefer consumer vouchers, which some local governments in China have issued, but in amounts too small to matter at a macro level. Local governments, while cash poor, are asset rich. Michael Pettis, senior fellow at Carnegie China, estimates that if Beijing forces local governments to transfer 1-1.5% of GDP to households, China could maintain current growth. "One of the really big conflicts is likely to be between Beijing and the local governments over how to allocate the various adjustment costs.

Persons: Erin Yao, Juan Orts, Orts, Tokyo's, Yao, joblessness, Jens Eskelund, Wang Jiliu, Wang, Michael Pettis, Laurie Chen, Kripa Jayaram, Marius Zaharia, Sam Holmes Organizations: Fathom Consulting, Communist Party, Reuters Graphics, European Chamber of Commerce, Carnegie China, Thomson Locations: BEIJING, HONG KONG, China, Beijing, United States, Hainan

☆ Tentoglou wins long jump gold after more late drama
▼ + stars: | 2023-08-24 | by ( Mitch Phillips | ) www.reuters.com time to read: +2 min

Tentoglou is no stranger to such things, having won Olympic gold with his final jump in Tokyo after being out of the medals after five rounds. Tentoglou got Thursday's final off to a flier as he produced a huge season’s best 8.50 with his opening jump, only for Pinnock to match it in the second round. That put Pinnock, who flew to a world-leading 8.54 metres on his opening jump in Wednesday's qualifying and a personal best by 17cm, in the lead on the back of having the best second jump by one centimetre. In the final round, though, Tentoglou hit the board perfectly to soar ahead and Pinnock was unable to improve on his final attempt. I had to test my legs to see that I was fine and then I went for it in the final jump after having felt no pain.

Persons: Miltiadis Tentoglou, Jamaica's Wayne Pinnock, Tentoglou, Wang Jianan, Pinnock, It's, Jamaica's Tajay Gayle, Carey McLeod, McLeod, Mitch Phillips, Ed Osmond, Ken Ferris Organizations: Thomson Locations: BUDAPEST, Greece, Tokyo, Eugene, China

A sign of Wanda is pictured at the headquarters of Dalian Wanda Group, in Beijing's Central Business District (CBD), China August 8, 2023. China's largest commercial property group has tapped Deutsche Bank for advice on the sale of Infront Sports & Media, the sources said, adding the process is in the early stages and could take months to complete. Headquartered in Switzerland, Infront's businesses include managing Italy's Serie A and the UK Premier League's international media rights, as well as event operations, media rights distribution and sponsorship sales. It raised $320 million through the partial sale of its entertainment unit Beijing Wanda Cultural Industry to pay it off. Spain's Mediapro, which manages international media rights for LaLiga, restructured 900 million euros in debt a year ago selling shares to investors including the group's majority shareholder Southwind.

Persons: Wanda, Tingshu Wang, China's, Wang Jianlin, Infront, Amy, Jo Crowley, Emma, Victoria Farr, Milana, Andres Gonzalez, Kane Wu, Clare Jim, Elisa Martinuzzi, Sharon Singleton Organizations: Dalian Wanda Group, Beijing's, Business, REUTERS, Reuters, Deutsche Bank, Infront Sports & Media, Serie, Premier League's, South East, Olympic Games, Beijing Wanda Cultural Industry, Infront, Companies, LaLiga, Thomson Locations: China, FRANKFURT, Switzerland, Central, South, South East Asia, Dalian, Beijing, Infront

☆ Explainer: Dalian Wanda's repayment woes weigh on China property sentiment
▼ + stars: | 2023-07-21 | by ( Clare Jim | ) www.reuters.com time to read: +3 min

HOW MUCH DEBT DOES DALIAN WANDA HAVE? Dalian Wanda Group, owned by China's once-richest man Wang Jianlin, is the country's largest commercial property developer managing many shopping malls, offices and hotels across the country. WHAT IS NEXT FOR DALIAN WANDA? If Wanda Commercial manages this repayment, the next deadline will be a 3.5 billion yuan onshore bond due on July 29. "The extreme volatility in Dalian Wanda's bond prices shows how fearful and emotional the market is at this point."

Persons: DALIAN WANDA, China's, Wang Jianlin, Wanda Commercial, Wanda, Sandra Chow, Scott Murdoch, Jamie Freed Organizations: Dalian Wanda, DALIAN, Dalian Wanda Group, Dalian Wanda Commercial Management, Zhuhai, Bloomberg News, Country Garden, HK, Ocean Group, Thomson Locations: HONG KONG, Dalian, Hong Kong, Asia, Pacific, Sydney

"That doesn't get them completely out of the woods," said one Country Garden bondholder, who declined to be identified, adding that the developer was facing a further batch of bonds payments in coming months. "If sales don't improve people will worry about the repayment ability for developers like Country Garden who have large exposure in smaller cities," Cheng said. "Country Garden is a top developer in terms of sales. It has been another week of unsettling news in the property market in China. Other efforts are needed to boost buyers’ sentiment about the long-term trajectory of the property market," they added.

Persons: Raymond Cheng, Cheng, Friday's, Wanda, China's, Wang Jianlin, DWCM, selloff, Yao Yu, Wanda Commercial's, Ankur Banerjee, Jason Xue, Clare Jim, Xie Yu, Marc Jones, Tom Hogue, Robert Birsel, Sharon Singleton, Frances Kerry Organizations: HK, CGS, CIMB Securities, Dalian Wanda Group, ANZ, Dalian Wanda Commercial Management, P, JPMorgan, Reuters Graphics, Thomson Locations: SINGAPORE, HONG KONG, Hong Kong, China, Beijing, Greenland, Dalian, Singapore, Shanghai, London

☆ China's Douyin says has held early talks with Wanda on payments unit
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, May 31 (Reuters) - ByteDance's short video app Douyin said on Wednesday that it has held preliminary talks with Dalian Wanda Group over the conglomerate's payments unit. Bloomberg reported on Wednesday, citing people familiar with the matter, that Wanda was in talks with prospective buyers include China's ByteDance to sell its digital payments licence for about 1 billion yuan ($144 million). A spokesperson for Douyin, the Chinese version of TikTok, declined to provide further comment beyond acknowledging the preliminary talks. Wanda bought its payments licence in 2014 from 99Bill in a deal that allowed visitors to Wanda's venues, from department stores to cinemas, to pay online. ($1 = 6.9121 Chinese yuan renminbi)Reporting by Josh Ye and Clare Jim in Hong KongOur Standards: The Thomson Reuters Trust Principles.

Persons: Wanda, Wang Jianlin, ByteDance, Josh Ye, Clare Jim Organizations: Dalian Wanda Group, Bloomberg, Douyin, Zhuhai Wanda Commercial Management Group, Thomson Locations: HONG KONG, Hong Kong, 99Bill

☆ China lands its secretive space plane after 9 months in orbit
▼ + stars: | 2023-05-08 | by ( Natalie Musumeci | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +3 min

China landed its mysterious reusable space plane after nine months in Earth's orbit. The space plane launched from the Jiuquan Satellite Launch Center in August 2022. The nine-month mission was the longest yet for the new space plane. In the absence of photos or details from China, multiple news outlets have suggested that the Chinese space plane may resemble the X-37B space plane developed by Boeing for the US military. Adam Shanks/US Space ForceThe Chinese space plane took off from the Jiuquan Satellite Launch Center in August 2022 and in October mysteriously ejected something into orbit, according to Space.com.

SHANGHAI/SINGAPORE, April 28 (Reuters) - Chinese banks are ramping up efforts to promote international use of the yuan, and reporting a surge in cross-border yuan business from the country's booming trade with Russia and deepening ties with the Middle East. Harbin Bank Co (6138.HK), in China's Heilongjiang province neighboring Russia, saw its cross-border yuan business grow nine-fold last year to a record, as the Sino-Russia trade grew briskly after the Ukraine war began. Industrial Bank Co (601166.SS), whose cross-border, corporate payment business jumped 50% last year, has also been actively promoting CIPS, China's own global payment system. The bank said it currently helps 153 foreign and Chinese banks connect to CIPS, to advance China's yuan internationalisation strategy. "Increasing the use of yuan in pricing, and settling cross-border oil and gas trade will give a boost to yuan internationalization."

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