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☆ China's Sept exports likely cooled further on weakening global demand: Reuters poll
▼ + stars: | 2022-10-13 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

BEIJING, Oct 13 (Reuters) - China's export growth is expected to have slowed further in September as overseas demand weakens, adding to strains on the shaky economy amid COVID curbs and a property crisis, a Reuters poll showed on Thursday. Outbound shipments likely rose 4.1% from a year earlier after growing 7.1% in August, according to the median forecast of 30 economists in the poll. Surging inflation, higher interest rates and the months-long Ukraine war are increasingly weighing on the global economy, with China's protracted slowdown adding to the pressure. South Korea's export growth, a leading indicator for China's imports, hit the slowest pace in nearly two years in September. With the weakening yuan, China's trade surplus is likely to have widened to $81.0 billion from $79.39 billion in August, the poll showed.

☆ Video shows rare protest in China against Xi Jinping days before Communist Party Congress
▼ + stars: | 2022-10-13 | by ( ) edition.cnn.com time to read: 1 min

Two banners hung on an overpass of a major thoroughfare in the northwest of Beijing in a rare protest against Chinese leader Xi Jinping and his authoritarian rule. CNN's Selina Wang reports.

☆ China's 20th Communist Party Congress: What you need to know
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +1 min

A view of Chinese national flags in a street of an old neighbourhood as the city prepares for the 20th National Congress of the Communist Party of China, in Beijing, China October 11, 2022. REUTERS/Thomas PeterOct 13 (Reuters) - China's 20th Communist Party Congress kicks off on Sunday, with Xi Jinping widely expected to clinch his third five-year stint in charge - a mandate that would secure his stature as the country's most powerful ruler since founding leader Mao Zedong. * Little is known about who will be promoted into which key roles on the Politburo and its seven-member Standing Committee. Here are some of the leading contenders and some scenarios to look out for. Register now for FREE unlimited access to Reuters.com RegisterCompiled by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

☆ When Chinese protesters came up against Xi's security machine
▼ + stars: | 2022-10-13 | by ( Martin Quin Pollard | ) www.reuters.com time to read: +12 min

Handout via REUTERSBEIJING, Oct 13 (Reuters) - Jack Yao, a Chinese Communist Party member, never wanted to be an activist. It offers a glimpse of the lengths some frustrated citizens will go to in taking on the world's most powerful security state. China's Ministry of Public Security, the Henan and Anhui local governments, and police departments in those provinces and Beijing didn't respond to requests for comment for this article. Chinese authorities say social stability is the foundation for a prosperous future and dismiss human rights complaints as Western propaganda and interference in internal affairs. Protesters chanted: "Henan banks, give us back our deposits."

☆ Hong Kong hopes China Congress could revive economy, reverse IPO slump
▼ + stars: | 2022-10-13 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +3 min

HONG KONG, Oct 13 (Reuters) - Hong Kong dealmakers expect China's 20th Party Congress next week to herald a shift in focus in Beijing back towards business and economic issues that could help revive the city's IPO issuance from nine-year lows. Hong Kong only recently began its own reopening, relaxing its tough virus policies which have tarnished its credentials as a global financial centre. There has been just $9.28 billion worth of IPOs in Hong Kong this year, down from $37.1 billion in the same period in 2021, according to Refinitiv figures. Moreover, more than 80% of the IPOs in Hong Kong this year are trading under water since their debut, according to Dealogic data. Mainland Chinese IPOs have raised $54.12 billion, down 33% from $80.89 billion in the first three quarters of 2022, according to Refinitiv data.

South Korean President Yoon Suk-yeol told reporters that Pyongyang has been "indiscriminately carrying out provocations", vowing to devise "watertight countermeasures". North Korea's military issued a statement via state media KCNA early on Friday saying that it took "strong military countermeasures", over artillery fire by South Korea on Thursday. The unprecedented frequency of North Korea's missile launches has raised concerns it may be preparing to resume testing of nuclear bombs for the first time since 2017. It said the South Korean air force "conducted an emergency sortie with its superior air force, including the F-35A". "The KPA sends a stern warning to the South Korean military inciting military tension in the frontline area with reckless action," its spokesman said, according to KCNA.

☆ Morning Bid: Xi bangs the drums
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +3 min

Asian markets will open with a spring in their step on Friday after the huge 'risk-on' rally Thursday. They will be on FX intervention alert too, after the dollar's spike to a 32-year high of 147.67 yen. The bullish whoosh across markets on Thursday pulled the dollar back a bit, but it remains above 147.00. A G7 statement late on Thursday reaffirming policymakers' commitment that excessive FX moves are undesirable seems to have barely registered among FX traders. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

A view of Chinese national flags in a street of an old neighbourhood as the city prepares for the 20th National Congress of the Communist Party of China, in Beijing, China October 11, 2022. Smoke could be seen emanating from the roadway above where the banners were hung in Beijing's northwestern Haidian district, according to the images. China's zero-COVID policy, which has led to frequent lockdowns and caused heavy economic damage, has fuelled widespread frustration in Chinese cities. "There was a brave person in Beijing today," one Chinese social media user wrote, adding several thumbs up and roses of support. In Beijing there is no public dissatisfaction caused by epidemic control as in some other remote places in China."

☆ Factbox: China's 20th Communist Party Congress: who could be in Xi's new team?
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +4 min

BEIJING, Oct 13 (Reuters) - China's Xi Jinping is widely expected to clinch a third five-year leadership at the upcoming congress of the ruling Communist Party, a mandate that would secure his stature as the country's most powerful ruler since founding leader Mao Zedong. Hu Chunhua, 59, vice premierHu is considered a candidate for elevation to the PSC and possibly to become China's next premier. Chen Miner, 62, Chongqing party secretaryChen is also a trusted aide and considered a candidate for the PSC. The only current female member, Vice Premier Sun Chunlan, is 72 and therefore ineligible to serve another term under China's unofficial age norms. Li Xi, 65, party chief of Guangdong provinceLi, considered a trusted ally of Xi, may get a bigger job after the Congress.

☆ Analysis: China faces its "Sputnik" moment as US export curbs deal a blow to its chip ambitions
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +6 min

The measures are set to undermine China's efforts to develop its own chip industry aimed at reducing its reliance on foreign-made chips. These are the questions," says Marco Mezger, a consultant in Taiwan who tracks the global memory chip sector. Washington is also scrambling to tackle unintended consequences of its new export curbs, people familiar with the matter said. Hours before the new restriction took effect, South Korea's SK Hynix (000660.KS) said it got U.S. authorization to receive goods for its chip production facilities in China without additional licensing imposed by the new rules. Yet business at toolmaking firms servicing Chinese customers has already slowed dramatically, leaving their staff with little work to do but creating an opening for Chinese equipment makers seeking to catch up with western rivals, sources said.

☆ China can't win COVID battle by 'lying flat' - People's Daily
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

"Lying flat is not to be advised, and to win (the COVID battle) while lying flat is not possible," People's Daily wrote on Wednesday. "Only by insisting on dynamically clearing (cases as they arise) could huge losses arising from losing control of the epidemic be avoided by the full extent," People's Daily wrote. China's health authority reported on Wednesday 1,760 new local cases for Oct. 11, down from 2,089 a day earlier. The impact of China's tough COVID policies has been felt across the world. "Some countries choose to 'lie down' and adopt the policy of 'coexisting with the virus', not because they do not want to prevent and control the epidemic, but because they are unable to prevent and control the epidemic," People's Daily said.

She also outlined steps to boost the military including with mass production of precision missiles and warships. Xi is widely expected to win his third term at the one-every-five-years party congress. "When we say achievement, for Taiwan it's definitely not a good sign, it's not a good thing," Lin said. One senior Taiwanese security official said Xi's third term would bring "unpredictable tensions" across the strait. But China has refused to speak to his successor, Tsai, since she was first elected in 2016, believing her to be a separatist.

☆ Investors are fleeing growth names. But one market veteran loves them – and reveals his top picks
▼ + stars: | 2022-10-12 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

The market has turned decidedly bearish — as can be seen in a lack of activity among long-only hedge funds, said Wall Street veteran Farzin Azarm. Instead, he's seeing a lot of short selling in the market, particularly in the growth sector. Three stocks he loves Azarm could well be one of the few bulls in an otherwise bearish market right now. Unsurprisingly, he's a fan of growth names. If there's going to be a risk to the upside, it's going to be those names," he said.

☆ Oil prices inch lower as dollar firms, China COVID worries dent demand
▼ + stars: | 2022-10-11 | by ( Isabel Kua | ) www.reuters.com time to read: +3 min

Brent crude futures fell 27 cents, or 0.3%, to $95.92 a barrel by 0342 GMT, after falling $1.73 in the previous session. U.S. West Texas Intermediate crude was at $90.73 a barrel, down 40 cents, or 0.4%, after losing $1.51 in the previous session. A strong greenback reduces demand for oil by making it more expensive for buyers using other currencies. The sustained zero COVID-19 policy in China ahead of the Communist Party Congress is "not helping" demand, the analysts added. EU sanctions on Russian crude and oil products will take effect in December and February, respectively, while the bloc last week gave its final approval for a new batch of sanctions against Russia including a price cap on Russian oil exports.

☆ Long picked for promotion, Xi loyalist Chen may get his chance
▼ + stars: | 2022-10-11 | by ( James Pomfret | ) www.reuters.com time to read: +3 min

Chen, party boss of the southwestern metropolis of Chongqing, is regarded as a steady technocrat and has often espoused Xi's ideologies and policies in public. A native of Zhejiang province in eastern China, Chen spent close to three decades there before being promoted to deputy party secretary in Guizhou province in 2012. In 2017, Chen was parachuted into the more politically challenging position of Chongqing party chief, a clean-up task after the sudden dismissal of Sun Zhengcai in a corruption scandal. Shanghai Party Secretary Li Qiang, another contender for promotion, was also in the group. In Zhejiang, Chen worked as chief editor of the party's main local media organ, the Zhejiang Daily, rising to become propaganda chief for the province.

☆ China's 'liberal' Wang Yang seen as possible premier as reshuffle looms
▼ + stars: | 2022-10-11 | by ( James Pomfret | ) www.reuters.com time to read: +4 min

During his time in Guangdong, which borders Hong Kong, Wang made his mark by pushing an upgrade of rusting industries and touting socially inclusive policies. Wang was passed over for promotion to the Politburo Standing Committee in 2012, but as vice premier he helped oversee China's external economic relations including with the United States. YOUTH LEAGUELike Li Keqiang and Vice Premier Hu Chunhua - another premiership contender - Wang has ties to the Communist Youth League, a faction seen to be a rival to Xi's. In recent years under Xi, Wang has seemingly tempered his reformist tendencies, echoing the party's tough line on sensitive political issues including Taiwan, Xinjiang and Tibet, while expressing support for Xi. Register now for FREE unlimited access to Reuters.com RegisterReporting by James Pomfret; Editing by Tony Munroe and Lincoln Feast.

☆ Explainer: When will North Korea test a nuclear weapon?
▼ + stars: | 2022-10-11 | by ( Josh Smith | ) www.reuters.com time to read: +5 min

Only North Korea knows. Satellite imagery has shown North Korea working to restore some of the tunnels this year that were closed in 2018, when Pyongyang declared a self-imposed moratorium on nuclear weapons tests. The most recent flurry of missile tests involved units meant to operate tactical nuclear weapons, according to North Korean state media. North Korea has also said it wants to deploy much larger nuclear weapons, so analysts say that could be in the works. Previous North Korea nuclear tests also incurred United Nations Security Council resolutions that imposed sanctions, backed at the time by China and Russia.

As the top official in China's commercial hub and its most populous city, Li's position as Shanghai party chief has traditionally been a stepping stone towards a top-two role in China's power structure - including for Xi Jinping himself. "It's near impossible for Li, who owes his political career largely to Xi, to even consider doing anything to undermine Xi. KEY CONFIDANTA native of Zhejiang province, Li, 63, was Xi's chief of staff - a role for the most trusted confidants - from 2004 to 2007 when Xi was party chief of Zhejiang. In Seattle with Xi, Li gave a speech calling for more cooperation between Zhejiang and U.S. firms. Making his rounds, he reiterated the COVID party line: "We must resolutely implement the spirit of the important instructions by Party Secretary Xi Jinping and steadfastly persist in the dynamic-zero approach".

☆ What is China's Communist Party Congress and will it cement Xi Jinping's rule?
▼ + stars: | 2022-10-11 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

What is the Party Congress? The Congress itself, typically held in October or November, convenes nearly 2,300 carefully selected Communist Party members, called delegates, from around the country. Delegates attend the opening of the Chinese Communist Party's 19th National Congress in October 2017. While votes are held at the Party Congress, this is widely viewed as a formality – not a true election process. Video Ad Feedback 02:46 - Source: CNN Watch CNN's report of last party congress of the Chinese Communist Party in 2017Why is this Congress different from those in the past?

☆ Ding Xuexiang: from Shanghai party cadre to Xi gatekeeper
▼ + stars: | 2022-10-11 | by ( Brenda Goh | ) www.reuters.com time to read: +4 min

Alongside China's top diplomats was Ding Xuexiang, who has risen from Communist Party cadre in Shanghai to become Xi's private secretary and gatekeeper. Ding, 60, is considered a leading candidate for promotion this month to the Politburo Standing Committee, the party's seven-member ruling echelon, despite lacking experience as a provincial-level party secretary or governor. He eventually succeeded the General Office's then-head, Li Zhanshu, who is currently China's top legislator and at 72 is expected to retire from the Standing Committee. Given the opacity of Chinese politics and Ding's roll as a background player, there is even less known about him than other leading Standing Committee prospects. In speeches this year Ding repeatedly urged party cadres to demonstrate loyalty and unity as well as rectify problems to ensure the smooth execution of the Party Congress.

☆ Oil prices slide as dollar strengthens, China Covid-19 woes dampen demand
▼ + stars: | 2022-10-11 | by ( ) www.cnbc.com time to read: +3 min

Oil prices fell on Tuesday, extending nearly 2% losses in the previous session, as a stronger U.S. dollar and a flare-up in Covid-19 cases in China increased fears of slowing global demand. Brent crude futures fell 57 cents, or 0.6%, to $95.62 a barrel by 0031 GMT, after falling $1.73 in the previous session. U.S. West Texas Intermediate crude was at $90.58 a barrel, down 55 cents, or 0.6%, after losing $1.51 in the previous session. A strong greenback reduces demand for oil by making it more expensive for buyers using other currencies. The sustained zero Covid-19 policy in China ahead of a Communist Party congress is "not helping" demand, the analysts added.

☆ Oil prices slide as dollar strengthens, China COVID-19 woes dampen demand
▼ + stars: | 2022-10-11 | by ( Isabel Kua | ) www.reuters.com time to read: +3 min

Companies Exxon Mobil Corp FollowSINGAPORE, Oct 11 (Reuters) - Oil prices fell on Tuesday, extending nearly 2% losses in the previous session, as a stronger U.S. dollar and a flare-up in COVID-19 cases in China increased fears of slowing global demand. Brent crude futures fell 57 cents, or 0.6%, to $95.62 a barrel by 0031 GMT, after falling $1.73 in the previous session. U.S. West Texas Intermediate crude was at $90.58 a barrel, down 55 cents, or 0.6%, after losing $1.51 in the previous session. A strong greenback reduces demand for oil by making it more expensive for buyers using other currencies. The sustained zero COVID-19 policy in China ahead of a Communist Party congress is "not helping" demand, the analysts added.

☆ Security, red banners and COVID curbs: Beijing readies for 20th Congress
▼ + stars: | 2022-10-11 | by ( Eduardo Baptista | ) www.reuters.com time to read: +5 min

REUTERS/Thomas PeterBEIJING, Oct 11 (Reuters) - Beijing has stepped up security and COVID curbs and decorated the capital Beijing with red political banners as it gears up for a Communist Party congress where President Xi Jinping is poised to become China's most powerful leader since Mao Zedong. The 20th party congress, which opens on Oct. 16, occurs every five years and brings together 2,300 party members, mostly behind closed doors, at the vast Great Hall of the People on Tiananmen Square. One hashtag about Beijing "pop-up windows" started on Oct. 5 and generated over 12 million views by Tuesday. A lockdown in Beijing during Congress would be an even larger dent on Xi and the Party's unwavering commitment to zero-COVID. Besides the COVID "pop-up windows", Beijing authorities recently introduced a series of measures to show their commitment to keeping the Congress virus-free, from reinforcing COVID monitoring teams at key airports and railway stations to increasing the frequency of COVID testing for office workers.

Women with dogs chat through gaps in a barrier at a sealed area, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China October 11, 2022. Shanghai, a city of 25 million people, reported 28 new local cases for Oct. 10, authorities said on Tuesday, the fourth day of double-digit increases. Register now for FREE unlimited access to Reuters.com RegisterNationwide, 2,089 new local infections were reported, the highest since Aug. 20. That's a step up from once a week presently, a regime imposed after the earlier lockdown was lifted. Checks on people travelling to Shanghai and places such as hotels, should also be strengthened, municipal authorities said.

☆ Hu Chunhua: From rural roots to candidate for China premiership
▼ + stars: | 2022-10-11 | by ( Dominique Patton | ) www.reuters.com time to read: +4 min

"For his policy record, I would pick Hu," said Yu Jie, senior research fellow on China at Chatham House. Hu is depicted in state media as a man of action, sometimes shown checking on planting progress in far-flung provinces. YOUTH LEAGUE ROOTS, POVERTY FIGHTERHu got his start in the party training ground of the Communist Youth League. Despite his Youth League roots - the faction was seen to be a rival to Xi's - Hu has proved his loyalty to Xi, promoting many of his initiatives in rural areas, including the campaign to eradicate poverty. Hu also wrote a paean to Xi's "historic achievements" on rural issues published in the party's official People's Daily in July.

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