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☆ U.S.-China relations are now more about crisis prevention
▼ + stars: | 2023-11-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

It will be a rare summit before the U.S. presidential election cycle kicks off in earnest. "The immediate aftermath of the [Biden-Xi] meeting is likely to mark a cyclical high point for bilateral relations," he said. Taiwan is set to hold its presidential election in January, and a more pro-independence winner could stir more of Beijing's ire. Beijing considers Taiwan part of its territory, with no right to independently conduct diplomatic relations. The U.S. recognizes Beijing as the sole government of China but maintains unofficial relations with Taiwan, a democratically self-governed island.

Persons: Joe Biden, Xi Jinping, Kevin Lamarque, Biden, Michael Hirson, Trump, Xi, Gabriel Wildau, Antony Blinken, Chuck Schumer, Shen Yamei, Shen, Gina Raimondo, Lifeng, Janet Yellen, Teneo, Nancy Pelosi, Teneo's Wildau Organizations: Reuters, U.S, China Research, Research, D.C, Strategic, International, Biden, Republican, Democratic, American Studies, China Institute of International Studies, CNBC, U.S . Commerce, Treasury, U.S . House, Representatives, Economic Cooperation, China's Ministry of Commerce Locations: Bali , Indonesia, Reuters BEIJING, U.S, China, Taiwan, South China, Washington, Beijing, San Francisco, Gaza, Ukraine, Asia

☆ U.S. to launch its own AI Safety Institute - Raimondo
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

[1/2] U.S. Commerce Secretary Gina Raimondo speaks on Day 1 of the AI Safety Summit at Bletchley Park in Bletchley, Britain on November 1, 2023. The UK Government are hosting the AI Safety Summit bringing together international governments, leading AI companies, civil society groups and experts in... Acquire Licensing Rights Read moreBLETCHLEY PARK, England, Nov 1 (Reuters) - The United States will launch a U.S. AI Safety Institute to evaluate known and emerging risks of what is called "frontier" artificial intelligence models, Secretary of Commerce Gina Raimondo said on Wednesday. "I will almost certainly be calling on many of you in the audience who are in academia and industry to be part of this consortium," she said in a speech to the AI Safety Summit in Britain. Raimondo added that she would also commit for the U.S. institute to establish a formal partnership with the United Kingdom Safety Institute. Reporting by Paul Sandle; writing by Kate Holton; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

Persons: Gina Raimondo, Raimondo, Paul Sandle, Kate Holton, William James Our Organizations: . Commerce, AI, Bletchley, Government, AI Safety, Summit, U.S, United Kingdom Safety Institute, Thomson Locations: Bletchley, Britain, BLETCHLEY, England, United States, U.S

☆ Biden administration picks 31 regional tech hubs to spur US innovation
▼ + stars: | 2023-10-23 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Commerce Secretary Gina Raimondo told reporters the program aimed to diversify the United States away from its traditional tech hubs like Silicon Valley, Seattle and Boston. White House National Economic Director Lael Brainard said the regional tech program makes "smart public investments in critical technologies in every region of the country." The designated regional tech hubs are in places like Montana, Wisconsin, upstate New York, Vermont, Nevada, Illinois and Puerto Rico, and are focused on areas including semiconductors, clean energy, critical minerals, biotechnology, artificial intelligence and quantum computing. Raimondo said the administration next year plans to award about five to 10 of the 31 tech hubs up to $75 million each. Biden this year asked Congress for $4 billion to fund additional regional tech hubs.

Persons: Gina Raimondo, Antony Blinken, Leah, " Raimondo, Joe Biden's, Lael Brainard, Biden, Raimondo, David Shepardson, Jamie Freed Organizations: . Commerce, U.S, State Department, REUTERS, U.S . Commerce Department, White, National, Thomson Locations: U.S, Mexico, Washington , U.S, WASHINGTON, United States, Silicon Valley, Seattle, Boston, Montana , Wisconsin, New York , Vermont , Nevada , Illinois, Puerto Rico, Washington, Idaho, Oklahoma, Wisconsin, China

BEIJING (AP) — China vigorously protested Wednesday the U.S. Commerce Department’s latest update of export controls to prevent exports to China of advanced computer chips and the equipment to make them. The updates also introduce new requirements that make it harder for China to manufacture advanced chips in other countries. The list of manufacturing equipment that falls under the export controls also was expanded, among other changes. In an August meeting, Raimondo and her Chinese counterparts agreed to exchange information about the export controls. The two leaders met last year following the Group of 20 summit in Bali, Indonesia, shortly after the export controls were announced.

Persons: “, Gina Raimondo, ”, Raimondo, Joe Biden, Xi Jinping Organizations: BEIJING, U.S . Commerce, China’s Commerce Ministry, Chinese Commerce Ministry, . Commerce, Economic Cooperation Locations: China, Washington, U.S, Beijing, Macao, Asia, San Francisco, Bali , Indonesia

☆ U.S. curbs export of more AI chips, including Nvidia H800, to China
▼ + stars: | 2023-10-17 | by ( Kif Leswing | ) www.cnbc.com time to read: +4 min

The U.S. Department of Commerce announced Tuesday that it plans to prevent the sale of more advanced artificial intelligence chips to China in the coming weeks. Those earlier restrictions banned the sale of the Nvidia H100, which is the processor of choice for AI firms in the U.S. such as OpenAI. The new rules will ban those chips as well, senior administration officials said in a briefing with reporters. Other rules will likely hamper the sale and export to China of semiconductor manufacturing equipment from companies such as Applied Materials , Lam and KLA. Companies that want to export AI chips to China or other embargoed regions will have to notify the U.S. government.

Persons: Gina Raimondo, They're, Raimondo, " Raimondo, — CNBC's Kristina Partsinevelos Organizations: Nvidia, U.S . Department of Commerce, Broadcom, Marvell, AMD, Intel, KLA, U.S, CNBC, . Commerce, ., Commerce Department Locations: Santa Clara , California, China, U.S, Macao, United States

☆ Nvidia stock falls after U.S. announces new restrictions on AI chip exports
▼ + stars: | 2023-10-17 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +1 min

Nvidia and a number of other chipmakers saw shares fall Tuesday morning after the U.S. announced new restrictions on exports of artificial intelligence chips to China. Shares of chip stocks have boomed in the last year due to the increased demand for AI products and services, which is powered by AI chips. The new restrictions on exports to China are a step up from previously announced restrictions on artificial intelligence chips that the Biden administration had implemented over the last year. The new restrictions ban the sale of the slowed-down version of Nvidia chips, the H800 and A800, that were allowed to be exported to China under the old restrictions. Nvidia believes that the increased restrictions will not immediately lead to a material effect on its financial performance.

Persons: Biden, Gina Raimondo Organizations: Nvidia, U.S, Broadcom, Marvell, Intel, U.S . Commerce, CNBC Locations: China, U.S

☆ China plans to ease one of the biggest hurdles for foreign business
▼ + stars: | 2023-10-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

China News Service | China News Service | Getty ImagesBEIJING — Chinese authorities are signaling a softer stance on once-stringent data rules, among recent moves to ease regulation for business, especially foreign ones. But foreign businesses have found it difficult to comply — if not operate — due to vague wording on terms such as "important data." The country's top executive body, the State Council, in August revealed a 24-point plan for supporting foreign business operations in the country. The text included a call to reduce the frequency of random inspections for companies with low credit risk, and promoting data flows with "green channels" for certain foreign businesses. When U.S. Commerce Secretary Gina Raimondo visited China in August, she called for more action to improve predictability for U.S. businesses in China.

Persons: Reva Goujon, Goujon, Gabriel Wildau, Gina Raimondo, Martin Chorzempa, Samm Sacks, Yale Law School Paul, Chorzempa, Sacks, Beijing's Organizations: China News Service, Getty, Cyberspace Administration of China, Government, European Union Chamber of Commerce, CNBC, EU, State, China Corporate, CAC, State Council, Commerce, Peterson Institute for International Economics, Yale Law School, Yale Law School Paul Tsai China Center and New, Baidu Locations: Chongqing, BEIJING, China, Beijing, Covid, U.S, Yale Law School Paul Tsai China Center and New America

☆ US Commerce head hopes to make first chips funding awards this fall
▼ + stars: | 2023-10-04 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

U.S. Secretary of Commerce Gina Raimondo attends a press conference at the Boeing Shanghai Aviation Services near the Shanghai Pudong International Airport, in Shanghai, China August 30, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsWASHINGTON, Oct 4 (Reuters) - U.S. Commerce Secretary Gina Raimondo said Wednesday she hopes to announce the first chips funding award announcements from the government's $39 billion semiconductor subsidy program this fall. "I hope we will have some chips funding announcements this fall." It is not clear how long from initial announcements it will take the Commerce Department to finalize funding agreements. Separately, Raimondo said she supports legislation that would give the Commerce Department new tools to address information and communications technology supply (ICTS) chain concerns posed by China and other foreign adversaries.

Persons: Gina Raimondo, Aly, Raimondo, Mark Warner, John Thune, TikTok, Maria Cantwell, David Shepardson, Diane Craft, Marguerita Choy Organizations: Boeing Shanghai Aviation Services, Shanghai Pudong International Airport, REUTERS, Rights, . Commerce, Senate, Commerce Department, Guard, Thomson Locations: Shanghai Pudong, Shanghai, China

Some users and analysts who bought the Mate 60 Pro say it uses a Chinese-made chip and is capable of 5G speeds. We are working overtime urgently to manufacture more so that more people can buy our products," Yu said. [1/4]People check a Huawei Mate 60 smartphone displayed at a Huawei flagship store in Beijing, China September 25, 2023. Huawei updated its official website after the event to add prices for its Mate 60 Pro+, which will start from 8,999 yuan ($1,230), and the Mate 60 RS Ultimate Design version, which is priced from 12,999 yuan. One shopper in the Beijing store, 29-year-old engineer Zhang Nianrong, said he saw the Mate 60 Pro as "carrying significance far beyond its value" and planned to buy it.

Persons: Gina Raimondo's, Apple's, Yu Chengdong, Yu, Maniler, Nelson Mandela, Florence Lo, Bryan Ma, Meng Wanzhou's, Washington . Meng, Ren Zhengfei, Zhang Nianrong, Yelin Mo, Brenda Goh, Sophie Yu, Himani Sarkar Organizations: Huawei Technologies, Huawei, U.S . Commerce, Weibo, REUTERS, IDC, Thomson Locations: BEIJING, SHANGHAI, China, Hong Kong, South Africa, Beijing, Iran, U.S, Washington

☆ China says opposes discriminatory U.S. practices against firms
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Sept 20 (Reuters) - China opposes discriminatory practices by the United States against Chinese companies, the foreign ministry said on Wednesday, after the U.S. commerce department said an advanced phone chip made by Huawei may violate trade restrictions. Smartphone manufacturer Huawei recently started selling its Mate 60 Pro phone containing a chip that analysts believe was made with a technology breakthrough by Chinese chip foundry Semiconductor Manufacturing International Corp (SMIC) (0981.HK). In response, Chinese Foreign Ministry spokesperson Mao Ning said China "opposed the U.S. generalising the concept of national security". "Such discriminatory and unfair practices against Chinese companies undermine the principles of free trade and international economic and trade rules, and disrupt the stability of the global production and supply chain," she added. China and the United States are locked in an ongoing battle over semiconductor technology.

Persons: Gina Raimondo, Mao Ning, Liz Lee, Ethan Wang, Bernard Orr, Christian Schmollinger Organizations: Huawei, Semiconductor Manufacturing International Corp, HK, The Commerce Department, . Commerce, U.S, Foreign Ministry, Thomson Locations: BEIJING, China, United States, U.S, Washington

☆ Exclusive: Huawei unit ships Chinese-made surveillance chips in fresh comeback sign -sources
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +4 min

Hauwei also unveiled new smartphones in recent weeks that use advanced chips, which analysts say are domestically made. "These surveillance chips are relatively easy to manufacture compared to smartphone processors," said the source familiar with the surveillance camera industry's supply chain, adding that HiSilicon's return would shake up the market. A key factor is that the company appears to have worked around U.S. restrictions on chip design software. Huawei has not commented on the phone's 5G capabilities or how it produced the advanced chip. The United States has no evidence that Huawei can produce smartphones with advanced chips in large volumes, U.S. Commerce Secretary Gina Raimondo said on Tuesday.

Persons: Hauwei, Frost, Sullivan, HiSilicon, Taiwan's TSMC, Gina Raimondo, Dan Hutcheson, Shanghai Newsrooms, Fanny Potkin, Gerry Doyle Organizations: Huawei Technologies, Huawei, Securities, Novatek Microelectronics Corp, Semiconductor Manufacturing International Corp, HK, Kirin, United, . Commerce, Cadence Design Systems, Synopsys Inc, Siemens, Thomson Locations: BEIJING, SHANGHAI, U.S, Kirin, China, United States, Beijing, Shanghai, Singapore

☆ Exclusive: Huawei unit ships Chinese-made surveillance chips in fresh comeback sign
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +5 min

Huawei also unveiled new smartphones in recent weeks that use advanced chips, which analysts say are domestically made. "These surveillance chips are relatively easy to manufacture compared to smartphone processors," said the source familiar with the surveillance camera industry's supply chain, adding that HiSilicon's return would shake up the market. A key factor is that the company appears to have worked around U.S. restrictions on chip design software. HiSilicon mainly supplies chips for Huawei equipment but has had external customers such as Dahua Technology (002236.SZ) and Hikvision (002415.SZ). The United States has no evidence that Huawei can produce smartphones with advanced chips in large volumes, U.S. Commerce Secretary Gina Raimondo said on Tuesday.

Persons: Florence, Frost, Sullivan, HiSilicon, Taiwan's TSMC, Gina Raimondo, Dan Hutcheson, Shanghai Newsrooms, Fanny Potkin, Gerry Doyle Organizations: Security China, REUTERS, Rights, Huawei Technologies, Huawei, Securities, Novatek Microelectronics Corp, Semiconductor Manufacturing International Corp, HK, Kirin, United, . Commerce, Cadence Design Systems, Synopsys Inc, Siemens, Thomson Locations: Beijing, China, Rights BEIJING, SHANGHAI, U.S, Kirin, United States, Shanghai, Singapore

☆ U.S. business optimism about China outlook falls to record low - survey
▼ + stars: | 2023-09-19 | 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

Even after the ending of COVID curbs, which weighed heavily on both revenues and sentiment in 2022, the percentage of surveyed U.S. firms optimistic about the five-year China business outlook fell to 52%, according to the annual survey published by American Chamber of Commerce (AmCham) in Shanghai. This was the lowest level of optimism reported since the AmCham Shanghai Annual China Business Report was first introduced in 1999. "Frankly, if there was one thing that surprised me about the survey this year it was that number," said AmCham Shanghai Chairman, Sean Stein. China has criticised U.S. efforts to block China's access to advanced technology and U.S. firms have expressed concern about fines, raids and other actions that make doing business in China risky. Last month, U.S. Commerce Secretary Gina Raimondo said during a visit to China that U.S. companies have complained to her that China has become "uninvestible".

Persons: Dado Ruvic, Sean Stein, Gina Raimondo, AmCham's Stein, Casey Hall, Alex Richardson Organizations: REUTERS, Rights, American Chamber of Commerce, Shanghai, U.S, Companies, . Commerce, Group, Thomson Locations: China, U.S, Shanghai, Southeast Asia, India, Mexico, Vietnam, Malaysia

☆ US has no evidence Huawei can mass produce advanced smartphones
▼ + stars: | 2023-09-19 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Aly Song/File Photo Acquire Licensing RightsWASHINGTON, Sept 19 (Reuters) - The U.S. has no evidence that Chinese manufacturer Huawei can produce smartphones with advanced chips in large volume, U.S. Commerce Secretary Gina Raimondo said on Tuesday. "We don't have any evidence that they can manufacture seven-nanometer (chips) at scale," Raimondo said at a U.S. House hearing, referencing an advanced chip. Raimondo told the House Science Committee hearing she was upset by the advanced Huawei smartphone report. Some Republicans think the Commerce Department should end all technology exports to Huawei and SMIC. Republican Representative Darrell Issa said at the hearing Raimondo was in China when the new Huawei phone was announced.

Persons: Gina Raimondo, Aly, Raimondo, Darrell Issa, Issa, Jake Sullivan, David Shepardson, Chizu Nomiyama, Josie Kao Organizations: Boeing Shanghai Aviation Services, Shanghai Pudong International Airport, REUTERS, Rights, U.S, Huawei, . Commerce, Semiconductor Manufacturing International Corp, HK, Commerce Department, House, Republicans, House Foreign Affairs, Energy, Commerce, Armed Services, Republican, White, National, Thomson Locations: Shanghai Pudong, Shanghai, China, U.S

The meeting between Blinken and Han was the latest in a series of high-level talks between U.S. and Chinese officials that could lay the groundwork for a meeting between President Joe Biden and Chinese President Xi Jinping later this year. "The world expects us to responsibly manage our relationship," Blinken said in brief remarks at the beginning of his meeting with Han. Neither Blinken nor Han in their remarks explicitly mentioned whether such a meeting will materialize. "Currently, China-U.S. relations face many difficulties and challenges," Han told Blinken, noting that China hoped the U.S. would make efforts to implement the consensus reached by the two countries' leaders and promote the stable development of relations. "The world needs stable and healthy China-U.S. relations,” Han said.

Persons: Antony Blinken, Han Zheng, Julia Nikhinson, Jake Sullivan, Wang Yi, Han, Joe Biden, Xi Jinping, Blinken, Gina Raimondo, Janet Yellen, John Kerry, Biden, Xi, ” Han, Humeyra Pamuk, Michael Martina, Sandra Maler Organizations: REUTERS Acquire, United Nations General Assembly, White House, Foreign, U.S, U.S . Commerce, Biden, Economic Cooperation, Thomson Locations: New York, U.S, Malta, Blinken, United States, China, India, Asia, San Francisco

NEW YORK (AP) — President Joe Biden's reelection campaign is getting some big-name fundraising help Monday from Broadway’s top stars. Both Biden and first lady Jill Biden will attend the event, with tickets ranging from $250 to $7,500. Since at least Bill Clinton, Democratic presidents have cultivated intimate ties with powerful figures in the Hollywood entertainment industry. Biden himself raised roughly $1 million during an early 2020 campaign fundraiser at the home of Michael Smith and James Costos, a former HBO executive. That event was attended by former DreamWorks co-founder Jeffrey Katzenberg, now a Biden campaign co-chair.

Persons: Joe Biden's, Biden, Sara Bareilles, Lin, Manuel Miranda, Ben Platt, Jill Biden, Bill Clinton, Michael Smith, James Costos, Jeffrey Katzenberg, Katzenberg, “ Joe Biden, ”, Chris Korge, “, tycoons, Mickey Kantor, “ It’s, ” Biden, Donald Trump ’, Trump, Annaleigh Ashford, Alex Edelman, Josh Gad, Christopher Jackson, LaChanze, Ruthie Ann Miles, Leslie Odom Jr, Andrew Rannells, Aaron Tveit, Betsy Wolfe, Thomas Kail, Alex Lacamoire, Andy Blankenbuehler, Benj Pasek, Justin Paul, Amanda Green, ___ Slodysko Organizations: Writers Guild of America, SAG, Hollywood, Actors ’ Equity Association, General, Democratic Party, Democratic, HBO, DreamWorks, Biden, Democratic National Committee, Fund, White, GOP Locations: U.S, Manhattan, New York, Southern California, Hollywood, Los Angeles, California, LA, Washington

[1/2] White House National Security Advisor Jake Sullivan speaks during a press briefing at the White House in Washington, D.C., U.S., September 15, 2032. REUTERS/Sarah Silbiger/File Photo Acquire Licensing RightsWASHINGTON/BEIJING, Sept 17 (Reuters) - White House national security adviser Jake Sullivan met with Chinese Foreign Minister Wang Yi in Malta this weekend, Beijing and Washington said on Sunday, as the world's two largest economies seek to stabilize troubled relations. Both sides held "candid, substantive and constructive" talks during multiple meetings held Sept. 16-17, according to separate statements from the White House and the Chinese foreign ministry published Sunday. China's foreign ministry said both sides agreed to maintain high-level exchanges and hold bilateral consultations on Asia-Pacific affairs, maritime affairs and foreign policy. Biden and Xi last met in 2022 on the sidelines of a G20 summit on Indonesia's resort island of Bali.

Persons: Jake Sullivan, Sarah Silbiger, Wang Yi, Wang, Joe Biden, Xi Jinping, Sullivan, Washington, Biden, Xi, Gina Raimondo, Antony Blinken, Janet Yellen, Steve Holland, Andrea Shalal, Laurie Chen, Jason Lange, Scott Malone, Will Dunham, Susan Fenton Organizations: White, National, Washington , D.C, REUTERS, WASHINGTON, White House, Foreign, Economic Cooperation, . Commerce, U.S, Thomson Locations: Washington ,, BEIJING, Malta, Beijing, Washington, Vienna, Asia, Pacific, Taiwan, United States, U.S, India, San Francisco, China, Bali

The Fund will strongly urge Beijing to shift its growth model away from debt-fueled infrastructure investment and real estate, she said. "Our advice to China is use your policy space in a way that helps you shift your growth model towards more domestic consumption," Georgieva said. "We actually project that without structural reforms, medium term growth in China can fall below 4%," Georgieva said. ANEMIC GLOBAL GROWTHThe IMF is preparing to issue a new set of global growth forecasts ahead of IMF and World Bank annual meetings Oct. 9-15. With China generating about a third of global growth this year, its growth rate "matters to Asia, and it matters to the rest of the world," Georgieva said.

Persons: Yuri Gripas, Kristalina Georgieva, Georgieva, Gina Raimondo's, Andrea Shalal, David Lawder, Chris Reese, Tom Hogue Organizations: Monetary Fund, REUTERS, Rights, Reuters, IMF, World Bank, U.S . Commerce, Thomson Locations: Washington , U.S, China, Beijing, United States, Europe, Morocco, Asia

U.S. Commerce Secretary Gina Raimondo's trip to China last month had promised some economic and trade detente between the two superpowers now at loggerheads. And none of the 222 funds polled expected China economic growth to be any higher next year than this - mirroring a recent Reuters survey of domestic and overseas banks and investors. As these sorts of surveys go, there's an awful lot in there that could spell "peak gloom". Indeed, shorting China equities was deemed the second "most crowded trade" behind long exposure to supercharged Big Tech stocks. Even if the economy turns, political catalysts for a return to China may be slow in coming.

Persons: Aly, Gina Raimondo's, it's, Jamie Dimon, Jay Clayton, Jenny Johnson, Franklin Templeton, Willem Sels, Mike Dolan, Sharon Singleton Organizations: REUTERS, . Commerce, Bank of, Big Tech, Reuters, Reuters Graphics Reuters, JPMorgan, Investments, The Ontario Teachers, Caisse, Franklin, HSBC Private Banking, Thomson Locations: Shanghai, Shenzhen, China, loggerheads, Wall, Asia, Silicon Valley, Hong Kong, Temasek, Bridgewater, Blackrock, India, Indonesia, Washington, United States

☆ US Commerce head to meet with CEOs after China trip -sources
▼ + stars: | 2023-09-12 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

U.S. Secretary of Commerce Gina Raimondo attends a press conference at the Boeing Shanghai Aviation Services near the Shanghai Pudong International Airport, in Shanghai, China August 30, 2023. REUTERS/Aly Song Acquire Licensing RightsWASHINGTON, Sept 12 (Reuters) - U.S. Commerce Secretary Gina Raimondo expected to meet with the chief executives of major American companies this week, two weeks after a trip to China where she raised concerns about business conditions, sources told Reuters. She said last month she had spoken to more than 100 U.S. company CEOs ahead of her trip to China about difficulties doing business there. Raimondo in China talked up American companies' desire to do business in China and her hopes for further engagement with Chinese officials on market access. On Aug. 30 in Shanghai, Raimondo said she hoped to "see some results" in the next few months as a result of her four-day visit to Beijing and Shanghai.

Persons: Gina Raimondo, Aly, Raimondo, David Shepardson, Jonathan Oatis, David Gregorio Our Organizations: Boeing Shanghai Aviation Services, Shanghai Pudong International Airport, REUTERS, Rights, . Commerce, Commerce Department, Thomson Locations: Shanghai Pudong, Shanghai, China, Washington, U.S, Beijing

Jenny Johnson, President and CEO of Franklin Resources, Inc., speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 4, 2022. REUTERS/Mike Blake/File Photo Acquire Licensing RightsSINGAPORE, Sept 11 (Reuters) - The idea that investment opportunities in China have met their demise is probably overhyped, said Jenny Johnson, president and chief executive officer at global investment management firm Franklin Templeton. "There is a lot of pessimism built into the pricing," she said at a session at the Forbes Global CEO Conference in Singapore. Johnson's comments came as global investors have reduced their appetite for China, discouraged by the country's faltering economic recovery and tensions with the West. Meanwhile, Johnson also sees opportunities in secondary private equities and private credit globally.

Persons: Jenny Johnson, Mike Blake, Franklin Templeton, Johnson, Franklin, Legg Mason, Johnson's, Gina Raimondo, Yantoultra Ngui, Gerry Doyle Organizations: Franklin Resources, Inc, Milken, Global Conference, REUTERS, Rights, Forbes Global, Conference, West, . Commerce, Thomson Locations: Beverly Hills , California, U.S, Rights SINGAPORE, China, Singapore, West .

☆ China bans the use of Apple iPhones among government officials
▼ + stars: | 2023-09-07 | 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 EmailChina bans the use of Apple iPhones among government officialsCNBC's Eunice Yoon joins 'Squawk on the Street' to discuss the new policy out of China banning government workers from using iPhones, Huawei's nearing 5G technology promise, and Chinese state media's mockery of U.S. Commerce Secretary Raimondo over Huawei policy.

Persons: Eunice Yoon, Raimondo Organizations: China, Apple, . Commerce, Huawei Locations: China

☆ Apple lost over $200 billion in market value in two days. Here's where Jim Cramer stands on the stock
▼ + stars: | 2023-09-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Jim Cramer said Thursday he stands by the Club's "own it, don't trade it" designation on Apple, which was on a two-session losing streak that wiped out more than $200 billion in market value in the stock. "If I really felt like a disaster was coming, I would suspend" our mantra of "own it, don't trade it" on Apple stock, Jim Cramer said during the Club's Morning Meeting on Thursday. Apple is also extending efforts into emerging economies such as India, which like China has roughly 1.4 billion people. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer, shouldn't, Jim, Gina Raimondo, isn't, Apple, Wamsi Mohan, Daniel Ives, Ives, Jim Cramer's Organizations: Apple, Big Tech, Street Journal, Huawei, U.S . Commerce, Bloomberg, Bank of America, Wedbush Securities, U.S, The, CNBC, S3studio, Getty Locations: China, America, Beijing, Americas, Europe, India, Mong Kok District, Hong Kong

People walk past a Huawei store with advertisements for the Mate 60 series smartphones, at a shopping mall in Beijing, China August 30, 2023. That's another really big advance they've made," Dan Hutcheson, an analyst with TechInsights, told Reuters. "The significance is that it shows that China has been able to stay 2-2.5 nodes behind the world's best (chip) companies. "China's been buying tools like crazy so they probably have the capability to do this and yield ok with it." Huawei and SMIC did not immediately respond to requests for comment.

Persons: Yelin, they've, Dan Hutcheson, TechInsights, chipmaker SMIC, Hutcheson, Gina Raimondo's, it's, China's, Brenda Goh, Joyce Lee, David Kirton, Miyoung Kim, David Evans Organizations: Huawei, REUTERS, Rights, Huawei Technologies, Reuters, The, HK, U.S . Commerce, SMIC, Apple, South Korea's SK Hynix Inc, SK Hynix, U.S, Thomson Locations: Beijing, China, The Ottawa, Huawei's, U.S, Seoul, Shenzhen

People walk past a Huawei store with advertisements for the Mate 60 series smartphones, at a shopping mall in Beijing, China August 30, 2023. REUTERS/Yelin Mo/File Photo Acquire Licensing RightsSHANGHAI, Sept 7 (Reuters) - Huawei Technologies' new high-end smartphone contains more China-made chip components than previous models in a sign of Beijing's advances in the semiconductor sphere, according to research firm TechInsights, which is taking the device apart. That's another really big advance they've made," Dan Hutcheson, an analyst with TechInsights, told Reuters. "The significance is that it shows that China has been able to stay 2-2.5 nodes behind the world's best (chip) companies. "China's been buying tools like crazy so they probably have the capability to do this and yield ok with it."

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