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☆ In China's Wuhan, a shadow of reserve and resentment even as COVID lockdowns ease
▼ + stars: | 2022-12-09 | by ( Martin Quin Pollard | ) www.reuters.com time to read: +5 min

"We know the country is reopening but we ourselves haven't let down our guard," said one Wuhan cornershop owner. "This has never happened before, not even at the start of the outbreak in 2020," said one Wuhan pharmacist surnamed Liu. Health authorities in Wuhan reported 229 new COVID cases on Thursday, while health authorities in Beijing reported more than 16,000 cases nationwide on the same day. REUTERS/Martin Pollard 1 2 3 4By November, as frustration towards the zero-COVID policies mounted, some Wuhan residents like Sam Yuen, a teacher, joined protests demanding an end to the lockdowns, alongside thousands of others in cities across China. City authorities put the official death toll at 3,869 in April 2020.

[1/2] Drivers wait for fuel at a gas station of Hungarian oil company MOL Group in Budapest, Hungary, December 5, 2022. MOL, Hungary's main oil and gas group, has said the price cap was unsustainable as major players stopped importing fuel due to low prices, aggravating the shortage. "In the past days, the oil sanctions of Brussels took effect and what we had been afraid of, has actually happened. From now on there are sanctions prices on petrol across entire Europe," Orban said on Facebook, adding the government will "take away the extra profits generated by this" and redirect them to the state budget. At 1218 GMT, its shares traded 1.8% lower, reversing earlier gains of around 3% after the fuel price cap was ditched overnight.

☆ China's Xi thanks late leader Jiang Zemin for ensuring party's survival from 'storms'
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +3 min

Li Xueren/Xinhua via REUTERSBEIJING, Dec 6 (Reuters) - Chinese President Xi Jinping paid tribute to former leader Jiang Zemin on Tuesday for ensuring the Communist Party's survival from "political storms" and reforming it to inject new vitality and modernise the country's economy. "In the late 1980s and early 1990s, serious political storms occurred at home and abroad, and world socialism experienced severe complications. Some Western countries imposed so-called 'sanctions' on China," Xi told an audience including China's top leadership and Jiang's direct successor Hu Jintao. But Jiang stepped forward to press reform and opening up, strengthen the party's ties with the people, engage in "diplomatic struggles" and upheld China's independence, dignity, security and stability, Xi added. Attendees at the ceremony all stood as Xi spoke, and wore white chrysanthemums, a traditional Chinese symbol for mourning.

REUTERS/Thomas PeterDec 6 (Reuters) - China's capital Beijing dropped the need for people to show negative COVID tests to enter supermarkets and offices on Tuesday, the latest in an easing of curbs across the country following last month's historic protests. "Beijing readies itself for life again" read a headline in the government-owned China Daily newspaper, adding that people were "gradually embracing" the slow return to normality. That has sparked optimism among investors for a broader reopening of the world's second biggest economy that could boost global growth. This marks the first decline in Nomura's closely-watched China COVID lockdown index since the start of October, nearly two months ago. Reporting by Ryan Woo and Bernard Orr in Beijing; Writing by John Geddie; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

☆ Jiang Zemin: China's Xi calls for unity at former president's memorial service
▼ + stars: | 2022-12-06 | by ( Nectar Gan | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —China’s Xi Jinping on Tuesday called on the country to unite around his leadership as he addressed a memorial service for former leader Jiang Zemin, following an unprecedented show of dissent over his zero-Covid policy and authoritarian rule. At the Great Hall of the People in Beijing, Xi led hundreds of China’s political and military elites to pay final tribute to Jiang, who died last Wednesday at the age of 96. Chinese leader Xi Jinping leads other officials to bow during a formal memorial for late former Chinese leader Jiang Zemin in Beijing on December 6, 2022. Coming to power in the aftermath of the 1989 Tiananmen crackdown, Jiang led China out of international isolation and guided its integration into the global market. On Tuesday, in his first public speech since the protests, Xi praised Jiang for ensuring the party’s survival from the “political storms” of his time.

☆ NASA’s Orion capsule makes farewell flyby of the moon
▼ + stars: | 2022-12-05 | by ( Jackie Wattles | ) edition.cnn.com time to read: +3 min

Orion, as NASA’s new space capsule is called, made another pass by the surface of the moon Monday morning, capturing views of notable lunar sites, including a couple Apollo landing sites. The spacecraft then passed just 80 miles (128.7 kilometers) above the lunar surface, its second close flyby of the moon. Orion separated from the rocket after reaching space and has since been on a journey circumnavigating the moon. The NASA Orion capsule captures a view of the "Earth rise" as it emerges from the far side of the moon. All told, the Orion capsule will have traveled more than 1.3 million miles in space.

[1/5] Pandemic prevention workers in protective suits walk in a street as coronavirus disease (COVID-19) outbreaks continue in Beijing, December 4, 2022. Daily tallies of new COVID infections have also dropped in some regions as authorities row back on testing. CHANGING MESSAGEAlongside the easing of local curbs, Vice Premier Sun Chunlan, who oversees COVID efforts, said last week the ability of the virus to cause disease was weakening. That change in messaging aligns with the position adopted by many health authorities around the world for more than a year. The eastern province of Zhejiang said it planned to largely end mass testing, while the metropolis of Nanjing dropped COVID tests for use of public transport.

☆ Exclusive: China to allow home quarantine for some infected with COVID
▼ + stars: | 2022-12-01 | by ( Julie Zhu | ) www.reuters.com time to read: +2 min

HONG KONG, Dec 1 (Reuters) - China will allow some people who test positive for COVID-19 to quarantine at home, among supplementary measures to be announced in coming days, two sources with knowledge of the matter told Reuters. Home isolation for the infected would be a significant change in China's quarantine protocols. Earlier this year, entire communities were locked down, sometimes for weeks, after even just one positive case was found. Last month, new and easier quarantine rules required just the lockdown of affected buildings. Vice Premier Sun Chunlan, who oversees China's counter COVID efforts, on Wednesday urged further "optimisation" of testing, treatment and quarantine policies.

☆ Chinese papers go black in mourning for late leader Jiang Zemin
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +3 min

[1/6] A Chinese flag is lowered to half-staff, following the death of former Chinese President Jiang Zemin, in Shanghai, China, December 1, 2022. REUTERS/Aly SongBEIJING, Dec 1 (Reuters) - Chinese newspapers turned their front pages black on Thursday and flags were put at half mast in mourning for the death of former president Jiang Zemin, whose death has prompted a wave of nostalgia for the more liberal times he oversaw. Jiang died in his home city of Shanghai just after noon on Wednesday of leukaemia and multiple organ failure. "Beloved comrade Jiang Zemin will never be forgotten," it said in its headline, above a story republishing the official announcement of his death. "Having someone educated as leader really is a good thing, RIP," wrote one user on WeChat adding a candle emoji.

☆ NASA's Orion capsule heads home on Artemis I moon mission
▼ + stars: | 2022-12-01 | by ( Jackie Wattles | ) edition.cnn.com time to read: +5 min

CNN —The NASA Orion spacecraft, the core of the Artemis I mission, is making a farewell pass by the moon on its historic journey before heading home to Earth. The Orion spacecraft is now expected to take another lap around the moon. That will mark the end of the historic Artemis I mission, which kicked off when the Orion spacecraft launched atop NASA’s new Space Launch System, or SLS, rocket on November 16. If the Artemis I mission is successful, NASA will then look to choose a crew to fly on the Artemis II mission, which could take off as soon as 2024. Read more: The big numbers that make the Artemis I moon mission a monumental feat‘Outstanding’ performanceThe spacecraft’s performance during this mission has been “outstanding,” Howard Hu, the Orion program manager, told reporters Monday evening.

☆ Fact Check-Photograph shows model, not former Balenciaga stylist Lotta Volkova holding two dolls covered in fake blood
▼ + stars: | 2022-11-30 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A photograph shared by social media users does not show former Balenciaga stylist Lotta Volkova holding two dolls covered in what appears to be fake blood, but an unnamed model during China Fashion Week 2016. Posts on social media making this claim can be seen (here) and (here). The photograph shared online does not show Volkova, but an unnamed model showcasing designs by Sheguang Hu during the Mercedes-Benz China Fashion Week 2016. The images do not show Lotta Volkova, but a model showcasing designs by Sheguang Hu during the Mercedes-Benz China Fashion Week 2016. This article was produced by the Reuters Fact Check team.

☆ Jiang Zemin Accelerated Chinese Communist Party’s Embrace of Market Principles
▼ + stars: | 2022-11-30 | by ( Charles Hutzler | Jason Dean | ) www.wsj.com time to read: 1 min

BEIJING— Jiang Zemin , the former Chinese leader who came to power after the quelling of the Tiananmen Square democracy protests and presided over the market-oriented changes that turned China into a global economic juggernaut, died of leukemia on Wednesday, state media said. Mr. Jiang retired as Communist Party chief in 2002, stepped down as president in 2003, and left as head of the party’s Central Military Commission the next year. Behind the scenes, he managed to wield substantial influence within the secretive party elite, installing allies in the leadership team of his successor, Hu Jintao . From retirement, party insiders say, he decisively backed Xi Jinping ’s ascent to party leader.

☆ Jiang Zemin made China richer and more unequal
▼ + stars: | 2022-11-30 | by ( John Foley | ) www.reuters.com time to read: +5 min

NEW YORK, Nov 30 (Reuters Breakingviews) - Jiang Zemin, who died on Wednesday, catapulted China into the modern world. And his death comes at an inconvenient time for the current president, Xi Jinping. Chosen as party chief weeks before the violent 1989 suppression of Tiananmen Square protesters who demanded economic and political reforms, Jiang inherited a system riven by infighting. While numbers can deceive in a state-led economy like China’s, Jiang still notched up some encouraging stats. Follow @johnsfoley on TwitterCONTEXT NEWSJiang Zemin, the former president of China, died on Nov. 30.

☆ Obituary: China's Jiang Zemin confounded doubters, mended U.S. ties
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +7 min

[1/5] A security guard stands next to a portrait of China's former President Jiang Zemin at an exhibition to celebrate the 90th anniversary of the founding of the Communist Party of China (CPC) in Beijing, China, July 7, 2011. Under Jiang, China weathered the 1997-1998 Asian financial crisis, joined the World Trade Organisation in 2001 and won the bid to host the 2008 Summer Olympics in Beijing. "Jiang Zemin was more ready to be natural, even though sometimes it could be perceived as vulgar, not very sophisticated." At celebrations for the 50th anniversary of the People's Republic in 1999, floats carried giant portraits of Mao, Deng and Jiang past Tiananmen Square. Jiang, like Mao, wore his trousers well above his waist and brushed his hair straight back.

☆ Exclusive: Ex-Tiger Global partner John Curtius to raise $1 billion for new venture capital fund -source
▼ + stars: | 2022-11-30 | by ( Krystal Hu | Shadia Nasralla | ) www.reuters.com time to read: +1 min

Nov 30 (Reuters) - John Curtius, a former partner at investment firm Tiger Global, is in talks with institutional investors to raise $1 billion for his new venture fund Cedar Investment Management, a person familiar with the matter told Reuters. The fund will focus on investing in early stage enterprise software companies in the United States and Europe, the source added, requesting anonymity while discussing private matters. If closed, the fund will likely be one of the largest new funds raised by first-time fund managers amid a slowing venture capital market. Curtius joined Tiger from Elliott Management in 2017 and had been running enterprise software investment at the prolific tech investment firm that has $125 billion in asset under management. His portfolio of tech companies includes security software SentinelOne (S.N) and unicorns such as data infrastructure firm Databricks and cybersecurity company Snyk.

☆ NASA's Orion spacecraft reaches record-breaking distance from Earth
▼ + stars: | 2022-11-28 | by ( Jackie Wattles | ) edition.cnn.com time to read: +4 min

CNN —The Orion spacecraft, which is at the core of NASA’s historic Artemis I mission, reached its farthest distance from Earth Monday afternoon, shattering the record for the maximum distance a spacecraft designed to carry humans has ever traveled. The space agency confirmed Monday evening that the Orion capsule had reached the midpoint of its uncrewed mission around the moon — about 270,000 miles (434,523 kilometers) from Earth. The Orion capsule is on track to splash down in the Pacific Ocean off the coast of California on December 11. In this image provided by NASA, the Earth and its moon are seen from NASA's Orion spacecraft on Monday. After landing, a NASA recovery ship will be waiting nearby to haul the Orion capsule to safety.

☆ China might not make major changes to its Covid policy any time soon, despite weekend protests
▼ + stars: | 2022-11-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

A couple pass necessities over a Covid lockdown barrier in Guangzhou city on Nov. 17, 2022. Future Publishing | Future Publishing | Getty ImagesBEIJING — China won't likely make major changes to its Covid policy in the near future despite this weekend's protests, analysts said. Groups of people in China took to the streets over the weekend to vent their frustration, built up over nearly three years of stringent Covid controls. Separately, the People's Daily ran a front page op-ed Monday on the need to make Covid controls more targeted and effective, while removing those that should be removed. He noted how it was no longer sustainable for China's economy and society to accept continued Covid controls.

☆ China may have 'passed the point of no return' as Covid infections soar
▼ + stars: | 2022-11-23 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

BEIJING — Surging Covid infections across mainland China make it harder for the government to achieve zero-Covid without reverting to a harsh lockdown, Macquarie's Chief China Economist Larry Hu said. Larry Hu Chief China economist, Macquarie“China might have already passed the point of no return, as it's unlikely to achieve zero Covid again without another Shanghai-style hard lockdown," Hu said in a report Tuesday. flatten the curve, by tightening the Covid controls for the time being." He said Vietnam's unwinding of its Covid restrictions since fall last year could shed light on the path forward for China. Covid controls tighten in Beijing

[1/2] Camden Hauge, who owns the Egg cafe, poses in her cafe in central Shanghai, following the coronavirus disease (COVID-19) outbreak in Shanghai, China, November 16, 2022. Their Lost Plate company, which has been hosting food tours in several Chinese cities since 2015, will instead veer to Southeast Asia. With COVID outbreaks getting worse, it is unlikely that China's economy can shift into a higher gear in the near term. Local authorities in some Chinese cities eased restrictions, while others tightened. At its core, the problem reflects authorities' failure to prioritise the interests of consumers, who are often the punching bag in China's investment-driven economy.

☆ Humans to live and work on the moon within the decade, NASA official said
▼ + stars: | 2022-11-21 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +2 min

NASA expects humans to live and work on the moon by 2030, an official said. NASA launched an unmanned spacecraft to the moon last week, considered a key preliminary step. NASA successfully launched its powerful new Space Launch System, or SLS, rocket last week, sending the Orion spacecraft on its way towards the moon. An illustration of the Orion spacecraft circling the moon. NASA’s Space Launch System (SLS) rocket with the Orion spacecraft aboard is seen atop the mobile launcher at Launch Pad 39B on Monday, Aug. 29, 2022.

☆ I don't expect you to get my name right, but I want you to try: Why making the effort to pronounce names matters
▼ + stars: | 2022-11-20 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

It's Annika, and you pronounce it by saying the name "Ann," followed by the name "Nick" and a moment of realization: "Ah." Remembering any name is hard, and it's harder when they're uncommon like mine, so I don't always blame them. My name is closely tied to my identity, and mispronunciations weigh more heavily on me than most people think. Xuenan Lily Hu, a product manager in New York, says she often chooses to go by "Lily" instead of "Xuenan," but she doesn't always like it. "When I choose to go by Lily instead, it makes me feel like I let go of that part of my identity to settle comfortably in conformity."

REUTERS/Michael Weekes Jr./File PhotoNov 15 (Reuters) - Elon Musk’s rocket and satellite company SpaceX is in talks about an offering of mostly secondary shares that could value the company at up to $150 billion, representing a 20% increase in valuation, sources told Reuters. The offering would be aimed at helping employees and shareholders cash out, two of the sources said. That view appears to contradict earlier information from a separate source that the offering would raise up to $1 billion for SpaceX via a new share issuance. Talks with potential investors are centering around a price of $85 apiece for SpaceX shares, up from a split-adjusted $70 per share fetched earlier this year, sources said. The valuation is still fluid and any share sale plan, which requires SpaceX’s approval, could still change, the sources cautioned.

REUTERS/Michael Weekes Jr./File PhotoNov 15 (Reuters) - Billionaire Elon Musk's SpaceX is in talks to raise nearly $1 billion in a new round that would value the rocket-launch and satellite company at about $150 billion, sources told Reuters. The ongoing talks offer SpaceX's share at about $85 apiece, up from the $125 billion valuation the company fetched earlier this year, sources said, suggesting strong investors' appetite while many late-stage venture capital-backed startups have to cope with valuation cut. Investors could buy new shares issued by SpaceX, or from employees who opt to sell via a private placement, or tender offer. The primary raise could fetch nearly $1 billion, one of the sources added. Investors have shown strong interest in SpaceX as the company has had a series of breakthroughs this year.

☆ Many blue chip Chinese tech stocks are 'so depressed' and 'dirt cheap,' says investment firm
▼ + stars: | 2022-11-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMany blue chip Chinese tech stocks are 'so depressed' and 'dirt cheap,' says investment firmFred Hu of Primavera Capital says there's "deep value" in many of those stocks.

☆ China's real estate crisis could be over with new rescue plan. Property stocks are soaring
▼ + stars: | 2022-11-14 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN Business —Chinese authorities are making their biggest effort yet to end a crisis in the country’s vast real estate sector that has weighed heavily on the economy over the past year. Tao Wang, chief China economist at UBS, described the package of measures as a “turning point” for China’s property sector. Along with other policies announced earlier this year, it could inject more than 1 trillion yuan ($142 billion) into real estate, she estimated. In October, sales by the 100 biggest real estate developers contracted 26.5% from a year ago, according to a private survey by China Index Academy, a top real estate research firm. “Beijing’s zero-Covid strategy, despite some latest fine tuning, will continue to weigh on the property sector,” they added.

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