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☆ China's capital city is letting the public take fully driverless robotaxis — and has bigger rollout plans, startup Pony.ai says
▼ + stars: | 2023-09-19 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Vcg | Visual China Group | Getty ImagesBEIJING — China's capital city is taking swift steps to allow robotaxi businesses to grow. As of Tuesday, the suburban Beijing city district of Yizhuang is officially letting local robotaxi operators — primarily Baidu and startup Pony.ai — charge fares for fully autonomous taxis, with no human staff inside. "We have very high confidence ... maybe only in three years, our full driverless vehicles are going to be running over the whole Beijing city," he said in an interview with CNBC on Monday. Out of more than 200 robotaxis that Pony.ai operates in the region, only about ten are currently fully driverless, Zhang said. Beijing city did not immediately respond to a CNBC request for comment.

Persons: Ning Zhang, Beijing's, Zhang, Yin Yong, Pony.ai, Baidu, Alphabet's Waymo, Pony.ai's Zhang, —, Leswing, Lora Kolodny Organizations: Visual China, Getty, BEIJING, Baidu, CNBC, Daxing International, robotaxis, General Motors, California Department of Motor Vehicles, Beijing Daxing, Google Locations: Beijing, Yizhuang, Pony.ai, Yizhuang district, Daxing, U.S, San Francisco, California, China, Shenzhen, Wuhan, Chongqing, Guangzhou, Shanghai

☆ China's tech crackdown cost over $1 trillion. But the economy is in such deep trouble that the country's cozying up to its tech firms again.
▼ + stars: | 2023-07-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China's tech crackdown wiped $1.1 trillion off the valuation of its Big Tech firms. China's economy is struggling to recover after three years of on-off COVID-19 lockdowns. China cracked down on the country's tech sector in 2020, taking down its Big Tech, whose market value has been wiped by $1.1 trillion. But now, authorities are laying out the red carpet for the same firms because the economy is in deep trouble. Local governments in China are wooing tech giants with at least five recent deals to build on the so-called "platform economy," the South China Morning Post reported on Sunday.

Persons: NetEase, Yin Li, Kuaishou, Yin Yong, Daniel Zhang, Lei Jun, Alibaba, Jack Ma Organizations: Big Tech, Morning, China Morning Post, Sunday, Communist Party Locations: China, Beijing, Hangzhou, Tianjin, Shenzhen

☆ Chinese authorities focus on fire hazards following restaurant blast
▼ + stars: | 2023-06-23 | 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: +1 min

SHANGHAI, June 23 (Reuters) - China's State Council Security Committee and municipal and provincial governments have held emergency video conferences and issued warnings about fire hazards and safety in the wake of a blast in China's northwest that killed 31 on Wednesday. Wednesday's explosion at a BBQ restaurant prompted President Xi Jinping to order a safety overhaul across China, calling on all regions to rectify safety risks. Following a hastily convened video conference on Thursday, Beijing mayor Yin Yong stressed that close attention should be paid to investigating and rectifying fire hazards. Beijing's municipal government, as well as the provincial governments of Sichuan, Guizhou and Hainan have all called attention to fire dangers and the safe handling of liquefied gas. Sichuan's Governor Huang Qiang said his province would immediately carry out an investigation and treatment of gas safety hazards.

Persons: Xi Jinping, Yin Yong, Huang Qiang, Casey Hall, Shri Navaratnam Organizations: Security, China's Ministry of Culture, Tourism, Thomson Locations: SHANGHAI, China, Beijing, Sichuan, Guizhou, Hainan

[1/2] Goldman Sachs CEO David Solomon speaks during the Goldman Sachs Investor Day at Goldman Sachs Headquarters in New York City, U.S., February 28, 2023. REUTERS/Brendan McDermidHONG KONG/SHANGHAI, March 31 (Reuters) - A flurry of top financial executives have visited China for the first time since the COVID-19 pandemic as global financial giants seek to cement their relations with Beijing at the start of President Xi Jinping's new term. International financial institutions and investors are welcome to expand in China, the chairman of the country's securities regulator said. Goldman Sachs' Solomon and Blackstone (BX.N) CEO Stephen Schwarzman met Peng Chun, chairman of China Investment Corporation (CIC), this week, according to official social media posts from the $1.35 trillion sovereign wealth fund. Meanwhile, Chip Kaye, Warburg Pincus's CEO, met Beijing's major Yin Yong during his visit to the city last week, according to a municipal statement from Beijing.

☆ COVID wave past its peak in many parts of China - state media
▼ + stars: | 2023-01-10 | by ( Bernard Orr | ) www.reuters.com time to read: +4 min

BEIJING, Jan 10 (Reuters) - Many parts of China are already past their peak of COVID-19 infections, state media reported on Tuesday, with officials further downplaying the severity of the outbreak despite international concerns about its scale and impact. One official was quoted as saying nearly 90 million people had already been infected in Henan province. On Tuesday, a Health Times compilation of reports from local government officials and health experts across the country, suggested the COVID wave may be past its peak in many regions. Yin Yong, acting mayor of Beijing, was cited as saying the capital was also past its peak. Separately in the state-run China Daily, a prominent health official said the percentage of severe cases remained unclear.

☆ China's Yin Yong named acting Beijing mayor - state media
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Oct 28 (Reuters) - Beijing's Communist Party deputy chief, Yin Yong, has been named both deputy mayor and acting mayor of the Chinese capital, state media reported on Friday. Reporting by Ryan Woo; editing by John StonestreetOur Standards: The Thomson Reuters Trust Principles.

China's strategy aims to win over "swing" countries to score United Nations votes, the diplomat said on Tuesday. Washington said it had taken note of the congress and stressed the importance of keeping open lines of communication. Like many up-and-comers, he is a former subordinate from Xi's days as party chief of the eastern province of Zhejiang. Other pro-reform policymakers excluded from the party's new central committee were outgoing economic czar Liu He, 70, and central bank party chief Guo Shuqing, 66. Also among the newcomers is Ding Xuexiang, who was Xi's chief of staff and named to the new Standing Committee.

Oct 24 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeeverChinese politics, Japanese policy. This was offered up for public consumption on Saturday when former President Hu Jintao was unexpectedly escorted out of the Party Congress's closing ceremony. Xi's cabinet reshuffle may also see central bank chief Yi Gang stepping down and being replaced by former deputy governor Yin Yong, according to sources. Meanwhile, Japan intervened in the FX market on Friday after the yen slumped to a new 32-year low close to 152.00 per dollar. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

BEIJING/HONG KONG, Oct 22 (Reuters) - China's central bank chief Yi Gang is likely to step down after he was dropped from an elite body of the ruling Communist Party, with a former central banker a leading contender to succeed him, sources close to the central bank said. Yi is among pro-reform policymakers not named on Saturday as full or alternate members of the party's new Central Committee. Also excluded were outgoing Premier Li Keqiang, 67, economic czar Liu He, 70, and central bank party chief Guo Shuqing, 66. Yin Yong, deputy party chief in the capital Beijing who worked as a deputy central bank governor from 2016 to 2018, is a leading candidate to replace Yi, sources close to the central bank said. Xuan Changneng was named deputy central bank governor on Thursday.

☆ Factbox: Who's in, who's out of China's new party Central Committee
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Oct 22 (Reuters) - Over 2,000 delegates to a twice-a-decade congress of China's ruling Communist Party in Beijing elected a new 205-person Central Committee on Saturday that will set the course of Chinese policymaking for the next five years. Among the newly elected members of the Central Committee, the largest of the party's top decision-making bodies, was Xi Jinping, 69, who is widely expected to be named general secretary on Sunday, securing a precedent-breaking third term as its leader. Also on Sunday, the Central Committee will vote on its next Political Bureau, or Politburo, usually comprising 25 people, and its Politburo Standing Committee (PSC), the pinnacle of power in China, helmed by Xi. Under an unofficial "seven-up, eight-down rule," PSC members who are 68 or older retire during the party congress. However, Premier Li Keqiang, although 67, was also left out.

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