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The Chinese planner said it supports domestic airlines cooperating with Airbus according to their needs. He also witnessed the signing of the agreements between the NDRC and the European companies separately in Berlin and Paris, according to the Chinese planner. Relations are also strained from recent moves by European Union regulators and governments to limit China’s access to sensitive technology. In March, the European Commission president Ursula von der Leyen called on Europe to reassess its diplomatic and economic relations with China. “Germany is committed to actively broadening our economic relations with Asia and beyond,” Scholz said at a joint press conference with Li, according to French news agency AFP.
Persons: Guillaume Faury, Zheng Shanjie, Li Qiang, Li, Ursula von der Leyen, Olaf Scholz, ” Scholz, China’s Sinochem Organizations: Hong Kong CNN, Moscow, Airbus, BMW, Mercedes, Benz, Volkswagen, Siemens, BASF, National Development, Reform Commission, Union, ASML, European, AFP Locations: Hong Kong, China, Ukraine, Paris, Tianjin, Europe, European, Berlin, Beijing, Russia, United States, Netherlands, Germany, Asia, Italy
"You could argue that as Tesla, I've got new products, I need to have a new factory to build them in," he said. "But viewed from the China government's point of view, all they see is a market that's oversupplied." Construction of Tesla's Shanghai plant took less than a year to complete after it broke ground on the site in 2019. U.S. luxury EV maker Lucid Group (LCID.O) is also keen to make cars in China but has been advised that the possibility was low, industry sources said. "China needed Tesla to open the market for retail consumers, but Tesla needs China, because the supply chain benefits of being here and the competitive bar that's set here makes Tesla a more competitive company globally.
Persons: Tesla, Bill Russo, I've, Elon Musk, Ding Xuexiang, Musk, it's, Dan Ives, EVs, Nio, Xiaomi, Automobility's Russo, Zhang Yan, Brenda Goh, Jamie Freed Organizations: National Development, Reform Commission, Tesla, Wedbush Securities, Reuters, HK, Lucid, Thomson Locations: China, SHANGHAI, Shanghai, Beijing, CHINA, United States, Southeast Asia, Canada, India, South Korea, Indonesia
BEIJING, April 19 (Reuters) - China is formulating plans to boost the recovery and expansion of consumption, the state planner's spokesperson Meng Wei said on Wednesday, signaling officials are worried about weak demand despite a sharp rebound in retail sales. The National Development and Reform Commission (NDRC) pledged to promote a sustained recovery in consumption. "Currently, we are working on drafting documents on the recovery and expansion of consumption, mainly focusing on key areas such as stabilising big-ticket consumption, enhancing service consumption and expanding rural consumption," said Meng. Meng, at a news conference, also mentioned stabilising of automobile consumption, which was a "big part" of supporting consumption, by promoting new energy vehicles to rural areas. "The international environment is still complex and ever-changing, constraints from insufficient domestic demand are obvious and the foundation for economic recovery is not solid," said statistics bureau spokesperson Fu Linghui on Tuesday.
"The reality is that China has more coal power capacity than it needs," said Zhang Shuwei, director at Draworld Energy Research Centre. That's equivalent to about a hundred large coal-fired plants and enough to supply the whole of Britain. China's big jump in coal power approvals has sparked fears that there will be backsliding on its climate goals. Share of coal in China's energy mixAnalysts note existing coal plants could provide sufficient backup for renewables if they were plugged into a nationwide market, but China's power sector remains fragmented. "It would be far cheaper... to incentivise provincial trading than incentivising new loss-making coal," he said.
China's four new vice premiers:Ding Xuexiang, 60, is the first-ranked vice premier who also sits in the ruling Communist Party's Politburo Standing Committee, China's top echelon of power. Wang Zhigang, 65, remains minister of science and technology. Huai Jinpeng, 60, remains minister of educationPan Yue, 62, remains head of the National Ethnic Affairs CommissionWang Xiaohong, 65, remains minister of public securityChen Yixin, 63, remains minister of state security. Considered a Xi ally, he had worked with Xi when the latter was party chief of Zhejiang province from 2002-2007. Tang Dengjie, 63, remains minister of civil affairsHe Rong, 60, remains minister of justiceWang Xiaoping, 59, remains minister of human resources and social securityWang Guanghua, 59, remains minister of natural resourcesHuang Runqiu, 59, remains minister of ecology and environmentNi Hong, 60, remains minister of housing and urban-rural developmentLi Xiaopeng, 63, remains minister of transportLi Guoying, 63, remains minister of water resourcesTang Renjian, 60, remains minister of agriculture and rural affairsHu Heping, 60, remains minister of culture and tourismMa Xiaowei, 63, remains head of the National Health CommissionPei Jinjia, 59, remains minister of veterans affairsWang Xiangxi, 60, remains minister of emergency managementHou Kai, 60, remains auditor-general of the National Audit OfficeReporting by Yew Lun Tian, Ziyi Tang, additional reporting by Albee Zhang; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.
As debt obligations mount, some local governments are pushing banks to extend maturities and cut interest rates, sources said. Reuters Graphics"BLACK HOLES""The LGFVs have become the black hole of the Chinese financial system. Chinese banks and other financial institutions have been cautious on new lending to LGFVs over the past years. In recent months, some state-owned banks, asset managers, and insurers have been looking into their portfolios to screen LGFV borrowers with weaker creditworthiness and dispose them, separate financial sector sources told Reuters. Offshore branches of Chinese financial institutions have been major buyers of the bonds, industry sources said.
SHANGHAI, March 10 (Reuters) - A representative from China's National Development and Reform Commission (NDRC), the country's top planning agency, met with a VP from Qualcomm Inc (QCOM.O) on March 7 to discuss Qualcomm's business in China, according to an NDRC statement on Friday. At the meeting, the NDRC said that China was willing to provide a first-class business environment for MNCs including Qualcomm to develop in China. Reporting by Josh Horwitz; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.
HONG KONG, March 8 (Reuters) - China has announced plans for a national data bureau, describing it as part of an effort to coordinate data resources in the country and to achieve a vision of "digital China" conceived by President Xi Jinping. Xi's vision for a "digital China" aims to see the country populated by smart, internet-connected cities and data treated alongside labour and capital as a key factor to drive the economy and help China compete more effectively globally. In December, China's top leadership published an outline of how China should develop basic data systems and utilize the country's data resources. Last week, they unveiled a new plan that aims for the country to lead digital development globally by 2035. Areas to watch include big data infrastructure, data processing, the digitization of government data as well as data encryption, they added.
China to set up new financial regulator in sweeping reform
  + stars: | 2023-03-07 | by ( ) www.reuters.com   time to read: +6 min
The new financial regulator will replace the China Banking and Insurance Regulatory Commission (CBIRC) and bring supervision of the industry, excluding the securities sector, into a body directly under the State Council, or cabinet. The proposal for setting up the new regulator, the National Financial Regulatory Administration, was presented to China's parliament during its annual meeting on Tuesday. China's financial sector is overseen by the People's Bank of China (PBOC), the CBIRC, and the China Securities Regulatory Commission (CSRC), with the cabinet's Financial Stability and Development Committee having overall responsibility. The setting up of the new financial regulatory body comes as Beijing seeks to rein in large corporate and financial institutions that may bring systemic risks via regulatory arbitrage among multiple authorities. 'STRENGTHEN SUPERVISION'The new administration will "strengthen institutional supervision, supervision of behaviours and supervision of functions", according to the plan.
China to form a national bureau to manage its troves of data
  + stars: | 2023-03-07 | by ( ) www.reuters.com   time to read: +2 min
SHANGHAI, March 7 (Reuters) - China will form a national data bureau that will be responsible for coordinating the sharing and development of the country's data resources, according to a plan submitted on Tuesday to parliament. The proposed bureau will be administrated by the state planning agency, the National Development and Reform Commission (NDRC), the plan said. This has included issuing a series of new laws that require organisations with large user bases undergo assessments and obtain approvals when handling data. Some firms are struggling with a deadline requiring them to seek approval to export user data. "Multinationals will no doubt want to understand how a centralised data regulator will interface with overseas stakeholders."
China takes a cautious approach to its economy in 2023
  + stars: | 2023-03-06 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +4 min
Beijing announced Sunday a target of "around 5%" growth in gross domestic product for 2023, with only a modest increase in fiscal support. "The government's conservative growth target of 5% for 2023 recognizes that the pickup in China's growth continues to face headwinds," Martin Petch, vice president and senior credit officer, Moody's Investors Service, said in a note. "Some local governments are finding economic recovery difficult and are facing prominent fiscal imbalances," the report said. Consumption is keyConsumption can become the primary driver of economic growth this year, Li Chunlin, deputy director at the NDRC, told reporters Monday. An overall recovery in the economy can help fiscal revenues grow, and boost demand for workers, he said.
China to promote vaccine development, new medicines
  + stars: | 2023-03-05 | by ( ) www.reuters.com   time to read: +2 min
BEIJING, March 5 (Reuters) - China will prevent and control health outbreaks in a more scientific, precise and efficient way, and upgrade vaccines and develop new medicines to ensure enough supply for the public, Premier Li Keqiang said on Sunday. Last month, China's top leaders declared a "major victory" over COVID, claiming the world's lowest fatality rate, although experts have questioned that data. During last year's parliament meeting, the government said the country would speed up research and development of vaccines and drugs. On Sunday, the NDRC also said China will make continuous efforts to ensure the production, distribution and supply of key medical supplies. Reporting by Ethan Wang and Bernard Orr; Editing by William Mallard and Tom HogueOur Standards: The Thomson Reuters Trust Principles.
China leans on coal amid energy security push
  + stars: | 2023-03-05 | by ( Andrew Hayley | ) www.reuters.com   time to read: +4 min
Soaring global energy prices following Russia's invasion of Ukraine and domestic supply disruption have prompted Beijing to step up its focus on energy security in recent years. Fluctuating output from renewable plants, however, has led policymakers to lean on reliable and easily dispatchable coal power to shore up the country's baseload supply. "The energy security narrative is still going strong," said Greenpeace China policy advisor Li Shuo. Concerned about supply shortages amid high global prices, the planner pledged to "strictly control the expansion of projects to replace coal with natural gas". "(We shall) develop sound mechanisms to adjust urban end-user prices of natural gas in step with procurement costs," the report said.
The benchmark 62%-grade iron ore last traded at $126.80 per ton. Vincent Mundy | Bloomberg | Getty ImagesFalling prices for global crude steel output could also contribute to lower iron ore prices. "Global crude steel output fell modestly in year-on-year terms last month ... The result was driven by a fall in steel output amongst most of the world's largest steel producers." World crude steel output recorded a 3.3% drop in January compared to the same period last year, according to the World Steel Association.
BEIJING, Jan 18 (Reuters) - China's state planner approved 1.48 trillion yuan ($218.35 billion) worth of fixed asset investment projects in 2022, nearly double the value from the previous year, as authorities geared up to support the COVID-hit economy. Looking to 2023, the NDRC spokesperson remarked that the country's economic recovery remains complicated given that China must grapple with shrinking demand, supply chains shocks and turbulence in the global economy. China's exports shrank sharply in December as global demand cooled, contracting 9.9%, while imports fell by a more modest 7.5%. Officials also addressed the country's grain supply, commenting that the NDRC could ensure the safe supply of grain despite the challenges the market is facing. Reporting by Joe Cash and Shen Yan; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.
BEIJING, Dec 16 (Reuters) - China's economy is expected to pick up, but "arduous efforts" are needed to sustain the recovery in growth due to an adverse external environment and the global economy's loss of momentum, the country's top state planner said on Friday. "At the same time, we are aware that the economy is facing a more complex and severe external environment, and weakened growth momentum for the global economy," the spokesperson said. As investment in the property sector slumped significantly, the NDRC said the infrastructure and manufacturing sectors shored up fixed asset investment growth with their capital formation accounting for 26.7% of China's economic growth in the first three quarters. As the Lunar New Year holiday season approaches, the state planner vowed to release state pork reserves in a timely manner in order to keep prices stable. To spur a COVID-hit economy, China has set out plans to expand domestic consumption and investment, state media reported on Wednesday.
HONG KONG/BEIJING, Dec 9 (Reuters) - Chinese regulators and state-owned banks are taking steps to split staff at their workplaces in Beijing, sources told Reuters, as businesses brace for a possible spike in COVID cases after China relaxed virus restrictions in a major policy shift. Other staff are required to work from home, they added. Among China's big four state-owned banks, Bank of China (BOC) (601988.SS) has released a notice to staff that it would split its Beijing workforce into three groups, working in the office on alternate weeks, said a person with direct knowledge. But the bank has yet to decide when to start such rotations, the person added. Other large state banks have also made similar arrangements - splitting up staff into rotating shifts while maintaining a maximum of 10%-20% of staff occupancy in their headquarters in Beijing, said two other people with knowledge of the matter.
HONG KONG/BEIJING, Dec 9 (Reuters) - Chinese regulators and state-owned banks are taking steps to split staff at their workplaces in Beijing, sources told Reuters, as businesses brace for a possible spike in COVID cases after China relaxed virus restrictions in a major policy shift. Other staff are required to work from home, they added. Among China's big four state-owned banks, Bank of China (BOC) (601988.SS) has released a notice to staff that it would split its Beijing workforce into three groups, working in the office on alternate weeks, said a person with direct knowledge. But the bank has yet to decide when to start such rotations, the person added. Other large state banks have also made similar arrangements - splitting up staff into rotating shifts while maintaining a maximum of 10%-20% of staff occupancy in their headquarters in Beijing, said two other people with knowledge of the matter.
Since China doesn't have a central social credit system, many local government agencies have been experimenting with what the system could look like. But the plan is for the social credit system to eventually be mandatory and unified across the nation, with each person given their own unique code used to measure their social credit score in real-time, per Wired. In fact, a national social credit system is currently being proposed. Companies will also be at risk if China passes on its Establishment of the Social Credit System law. Citizens with good social credit can also get discounts on energy bills, rent things without deposits, and get better interest rates at banks.
China to implement policies to boost private investment
  + stars: | 2022-11-07 | by ( ) www.reuters.com   time to read: +1 min
BEIJING, Nov 7 (Reuters) - China's state planner on Monday issued a notice saying it would further improve the policy environment to encourage the development of private investment, the latest move to prop up the faltering economy facing multiple headwinds. China will increase policy support to stimulate the vitality of private investment, stabilise market expectations and increase job opportunities, as "private investment accounts for more than half of the total social investments," said the notice. Beijing also said it woud support the development of the platform economy with a focus on investment of key projects such as artificial intelligence, cloud computing and blockchain. Central-owned enterprises will be encouraged to step up the use of new products and technologies from private enterprises. Reporting by Liangping Gao and Ryan Woo; Editing by Tom Hogue and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.
Xi’s preference for personal loyalty over technocratic competence bodes ill for China’s already bleak economic outlook, analysts said. “In effect, Xi Jinping establishes an echo chamber around his own ideas,” she said. People watch the opening session of the 20th Chinese Communist Party Congress in Huaibei, in China's eastern Anhui province. Li Qiang, the party boss of Shanghai who presided over the city’s chaotic two-month lockdown, is now the second-highest ranking party official after Xi. The NDRC is China’s top economic planner, responsible for drafting the country’s economic plans and overseeing major state investment projects.
Register now for FREE unlimited access to Reuters.com RegisterA worker welds at the top of skyscraper Xiamen International Centre under construction in Xiamen, Fujian province, China December 23, 2017. REUTERS/StringerBEIJING, Sept 19 (Reuters) - China will speed up fund injections to expedite project construction and boost domestic consumption, China's state planner said on Monday, even after the economy showed signs of renewed momentum last month. Shanghai, which lifted a two-month Covid lockdown in June, said it would hand out "consumption vouchers" worth around 100 million yuan ($14.3 million) to residents starting Tuesday, for use in a major shopping district. The southern island province of Hainan on Monday also said it would issue vouchers, again totalling 100 million yuan, to make consumption the main driver of the recovery. "We estimate the current level of restrictions is suppressing the level of GDP in China by 4-5%."
China a suspendat dialogul economic strategic cu Australia pe termen nedefinit, Beijingul acuzând Canberra de 'mentalitate de Război Rece', transmite joi dpa.Decizia intervine la scurt timp după ce guvernul australian a anulat două acorduri cu China în cadrul Iniţiativei 'Belt and Road' (Noul Drum al Mătăsii).Comisia naţională pentru dezvoltare şi reformă a Chinei (NDRC) a transmis joi, printr-un scurt comunicat, că va suspenda toate activităţile din cadrul Dialogului economic strategic China-Australia creat în 2014, scrie agerpres.ro Comisia precizează că decizia a fost luată pe baza 'atitudinii actuale' a guvernului australian. 'În ultima vreme, unii oficiali guvernamentali australieni au lansat o serie de măsuri pentru a perturba schimburile normale şi cooperarea între China şi Australia, dintr-o mentalitate de Război Rece şi discriminare ideologică', se spune în comunicat.În replică, ministrul australian al comerţului, Dan Tehan, citat de AFP, a considerat 'dezamăgitoare' decizia Chinei, afirmând că guvernul său rămâne dispus la dialog în pofida tensiunilor.Potrivit ministrului, Dialogul economic strategic China-Australia era un 'forum important' care permitea celor două state să lucreze pe diverse subiecte, încă nicio discuţie nu a mai avut loc în acest cadru începând din 2017.China este cel mai mare partener comercial al Australiei.Cele două state sunt implicate într-o dispută comercială care a escaladat anul trecut, când China a lovit prin tarife şi întârzieri vamale exporturile australiene de vin, carne de vită, orz şi cărbune.Cu toate acestea, nu este clar dacă recenta decizie a Beijingului va avea un impact concret.Beijingul refuza deja participarea la reuniuni la nivel înalt, potrivit agenţiei australiene AAP.Ultima dată când cele două părţi s-au întâlnit în cadrul dialogului economic a fost în septembrie 2017.Analistul Jeffrey Wilson, de la USAsia Centre din Perth, a apreciat la televiziunea australiană ABC, că suspendarea dialogului va avea 'zero efecte concrete', dat fiind că Beijingul a aplicat deja sancţiuni ample asupra exporturilor australiene în ultimul an.
Persons: Dan, Analistul Jeffrey Wilson Organizations: ABC Locations: China, Australia, Canberra, Noul, Chinei, australian, Perth
Китай в четверг приостановил «на неопределенный срок» всю деятельность в рамках Китайско-австралийского стратегического экономического диалога, сообщил представитель органа государственного экономического планирования, что стало последним витком обострения напряженных отношений между двумя странами. Отношения ухудшились в прошлом году, когда Австралия призвала к независимому расследованию происхождения нового коронавируса, что вызвало торговые репрессии со стороны Китая. Министр торговли Австралии Дэн Техан назвал решение комиссии «разочаровывающим», поскольку экономический диалог стал «важным форумом для Австралии и Китая для решения вопросов, имеющих отношение к нашему экономическому партнерству». Последняя встреча была в Пекине в 2017 году, когда министр торговли Австралии подписал соглашение о сотрудничестве по проектам «Один пояс, один путь» во многих странах. Сменявшие друг друга министры торговли Австралии не смогли добиться телефонного звонка с китайскими коллегами, когда дипломатическая напряженность обострилась в 2020 году.
Persons: Дэн Техан, Атилла Виднелл, Мэтт Бекьер Organizations: Huawei 5G, Commodities Ptd, Star Entertainment Group Ltd, Macquarie Australia Conference, Комиссия национального развития и реформы, Федеральный парламент Locations: Китай, Австралийский Содружество, Австралия, Китай (), Пекин, США, Канберра, Виктория, Сидней
Chinezii din provinciile Hunan, Jiangxi (centru) şi Zhejiang (est) sunt afectaţi de aceste restricţii atât acasă, cât și la muncă, potrivit presei şi autorităţilor locale. Lifturile, oprite pentru economie de curentLa începutul lunii decembrie, provincia Hunan a decretat stingerea, timp de mai multe ore pe zi, a iluminatului clădirilor şi a limitat încălzirea în locurile de divertisment. În provincia Zhejiang, uzinele au primit ordinul de a opri producţia, iar sistemul public de iluminat a fost oprit pe perioada nopţii pentru a reduce emisiile, susţin mass media şi internauţii. Obiectivele de mediu ale ChineiAceste incidente ilustrează provocările cu care se confruntă o China în plină dezvoltare, constrânsă să realizeze un echilibru între nevoile populaţiei sale şi angajamentele în materie de mediu. Însă tensiunile dintre China şi Australia au declanşat îngrijorări pe pieţele de materii prime, ceea ce a dus la creşterea preţului cărbunelui în China”, susţine Yan Qin, analist la Refinitiv.
Persons: Lauri, Autorităţile, Celsius, susţine Yan Locations: Hunan, Jiangxi, Helsinki, Zhejiang, China, Chinei, Beijing, Canberra, Australia
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