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☆ China's first deficit in foreign investment signals West's 'de-risking' pressure
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

A view of the city skyline, ahead of the annual National People's Congress (NPC), in Shanghai, China February 24, 2022. Onshore yuan trading against the dollar also hit record-low volume in October, highlighting authorities' stepped-up efforts to curb yuan selling. Direct investment liabilities - a measure of FDI - were a deficit of $11.8 billion during the July-September period, according to preliminary data of China's balance of payments released late on Friday. That's the first quarterly shortfall since China's foreign exchange regulator began compiling the data in 1998, which could be linked to the impact of "de-risking" by Western countries from China amid growing geopolitical tensions. In September, foreign exchange outflows from China rose sharply to $75 billion, the biggest monthly figure since 2016, Goldman Sachs data showed.

Persons: Aly, That's, Tommy Xie, Xie, Goldman Sachs, Shri Navaratnam Organizations: National People's Congress, REUTERS, Rights, Greater, Greater China Research, OCBC, People's Bank of, Reuters, Shanghai, Thomson Locations: Shanghai, China, Western, Greater China, People's Bank of China

☆ China basic pension fund posts 0.33% investment gain in 2022
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +1 min

A view of the city skyline, ahead of the annual National People's Congress (NPC), in Shanghai, China February 24, 2022. REUTERS/Aly Song/File Photo Acquire Licensing RightsSHANGHAI, Nov 4 (Reuters) - The basic pension fund managed by China's social security fund gained 5.1 billion yuan, or 0.33% in 2022, down from a 4.9% gain in 2021, the National Council for Social Security Fund said on Saturday. China's stock benchmark CSI 300 (.CSI300) lost 21.6% in 2022 and so far this year is down 7.4%. The basic pension fund manages a total 1.62 trillion yuan by the end of 2022, and has posed an annual average gain of 5.4% since the end of 2016, when the national social security fund started to manage the pension's investment. Separately, the national social security fund reported a 5.07%, or 138 billion yuan loss for the year of 2022, it said in a report in September.

Persons: Aly, Michael Perry Organizations: National People's Congress, REUTERS, Rights, National Council for Social Security Fund, CSI, Shanghai, Thomson Locations: Shanghai, China

☆ China lowers flags to half mast on former premier Li's cremation day
▼ + stars: | 2023-11-02 | by ( ) www.reuters.com time to read: +1 min

[1/2] China's Premier Li Keqiang waves as he arrives for a news conference after the closing ceremony of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, China, March 15, 2017. REUTERS/Damir Sagolj Acquire Licensing RightsBEIJING, Nov 2 (Reuters) - China ordered the lowering of the national flag at Tiananmen Square in the heart of the Chinese capital Beijing on Thursday, when the remains of former premier Li Keqiang are scheduled to be cremated, state media said. The national flag will be flown at half mast across the country, the official Xinhua News Agency said on Tuesday, including at Beijing's Great Hall of the People, the foreign ministry as well as seats of local governments across the country, and diplomatic missions. Li, a former economist and pro-reform leader who served as the premier for 10 years before retiring in March, died of a heart attack in Shanghai last Friday and his remains were transferred to the capital the same day. Reporting by Liz Lee and Shanghai newsroom; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Li, Damir Sagolj, Li Keqiang, Liz Lee, Christian Schmollinger Organizations: People's Congress, of, People, REUTERS, Rights, Xinhua News Agency, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai

[1/3] China's Premier Li Keqiang waves as he arrives for a news conference after the closing ceremony of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, China, March 15, 2017. Li was premier and head of China's cabinet under Xi for a decade until stepping down from all political positions in March. Adam Ni, an independent China political analyst, described Li as "a premier who stood powerless as China took a sharp turn away from reform and opening". A glowing 2014 state media profile of Li, praising him as "a calm and tough wall-breaker", went viral shortly after his death was announced. Li's frequent visits to disaster sites and his easy camaraderie when speaking to ordinary people were also highlighted on Chinese state media.

Persons: Li, Damir Sagolj, Li Keqiang, Xi Jinping, Xi, Deng Xiaoping, Alfred Wu, Lee, Zhu Rongji, Wen Jiabao, Wu, Adam Ni, Jiang Zemin, Deng, Li Yining, Hu Jintao, Cheng Hong, Laurie Chen, Tian, William Mallard Organizations: People's Congress, of, People, REUTERS, Rights, Communist Party, CCTV, Weibo, Australian National University, Lee Kuan Yew, of Public Policy, Peking University, Communist Party's Youth League, Youth League, Shanghai, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai, Singapore, Social, Anhui, Henan, Liaoning

☆ China to issue $137 bln sovereign debt to support economy
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

Reuters reported on Monday that China's parliament was set to approve just over 1 trillion yuan in additional sovereign debt issuance, citing sources. "The additional fiscal support approved today is the intervention we had been expecting and that was needed to prevent an abrupt fiscal tightening in China in the closing weeks of the year," said Mark Williams, chief Asia economist at Capital Economics. China has previously let local governments issue bonds ahead of the annual session of parliament, which approves government budget plans and is usually held in March. Local governments had been told to complete the issuance of the 2023 quota of 3.8 trillion yuan in special local bonds by September to fund infrastructure projects. The government has not disclosed the size of local governments' 2024 frontloaded bond quotas.

Persons: Mark Williams, Williams, Kevin Yao, Ellen Zhang, Ella Cao, Jason Neely, Susan Fenton Organizations: Xinhua, Reuters, National People's Congress, Capital Economics, Thomson Locations: BEIJING, China, Asia, Beijing

☆ ‘Video games are in for quite a trip’: How generative AI could radically reshape gaming
▼ + stars: | 2023-10-23 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +10 min

“You can tell there is something off about what you’re seeing or hearing.”Enter generative AI. That offers another opportunity for generative AI to reshape the gaming experience. While the developers retain control over procedurally generated content, generative AI has the potential to develop unplayable levels, or deviate in unintended ways from the game’s narrative. An additional toolWhile gamers are excited about the potential for gameplay, generative AI is likely to impact development before it alters the user experience. “I think with generative AI, it’s essentially the same thing – or at least, we’re approaching it with the exact same mindset here at Ubisoft.” However, there are still a lot of unanswered “legal and ethical aspects” to using generative AI, including artists’ copyright, he adds.

Persons: Jitao Zhou, Alexis Rolland, ”, Rolland, Ubisoft's, Zhou, Julian Togelius, “, Togelius, Takehiko Hoshino, It’s, Hoshino, “ Fortnite, Creatives, We’ve, it’s Organizations: Rikkyo University CNN —, La, La Forge, Ubisoft, Rikkyo University, New York University, Rokkyo University, Maxis, EA, UGC, CNN, Forge Locations: La Forge China, Tokyo, La

☆ China set to approve $137 bln in extra sovereign debt on Tuesday -sources
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +3 min

Chinese Yuan banknotes are seen in this illustration picture taken June 14, 2022. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsOct 23 (Reuters) - China is set to approve slightly more than 1 trillion yuan ($137 billion) in additional sovereign debt issuance on Tuesday as Beijing steps up its efforts to spur infrastructure spending and encourage economic growth, three sources told Reuters. China's top legislators, the standing committee of the National People's Congress (NPC), are set to approve the extra debt issuance on the last day of a meeting which has run from Oct. 20 to Oct. 24, said the sources, who declined to be named due to confidentiality constraints. But its ability to spur growth has been hamstrung by fears over debt risks and a fragile yuan. ($1 = 7.3171 Chinese yuan renminbi)Reporting by Reuters staff; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Typhoon Doksuri, Alexander Smith Organizations: REUTERS, Reuters, National People's Congress, Information Office, NPC, Ministry of Finance, Thomson Locations: China, Beijing, Hebei, China's

☆ Russian para-athletes permitted to compete under neutral flag at Paris 2024 Games after IPC vote
▼ + stars: | 2023-09-29 | by ( Matt Foster | ) edition.cnn.com time to read: +2 min

CNN —Russian para-athletes will be permitted to compete under a neutral flag at next year’s Paris 2024 Games after the International Paralympic Committee (IPC) voted against a full suspension of Russia’s National Paralympic Committee (NPC) on Friday. “IPC members voted 90-56 in favour of a motion to partially suspend NPC Russia (with six members abstaining),” the IPC said in a statement. A full suspension would have meant no Russian para-athletes could compete at the Paris Games. NPC Russia is also not allowed to organise any sport event/competition involving other IPC members,” the statement added. CNN reached out to the Ukrainian and Russian Paralympic Committees for comment on the decision but did not immediately receive a response.

Persons: “ Organizations: CNN, International Paralympic Committee, IPC, Russia’s National Paralympic Committee, Assembly, Russia, Paralympic, Paris Games, “, Russian Paralympic, Russian NPC, Russian Locations: Russian, Paris, IPC’s, Bahrain, Russia, Beijing, Belarusian, Mumbai

☆ Russian athletes to compete at Paris Paralympics after IPC votes against full ban
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +2 min

"At the IPC General Assembly in Bahrain, IPC members voted 74-65 (13 abstentions) against a motion to fully suspend NPC (National Paralympic Committee) Russia for breaches of its constitutional membership obligations," the IPC said. The decision comes two weeks before the International Olympic Committee session in Mumbai where it will also discuss Russia's and Belarus' participation at the Paris Olympics next year. The IPC had last year suspended the paralympic committees of both countries and banned their athletes from competing following the Russian invasion of Ukraine in 2022. The IOC has not sanctioned the Russian or Belarus Olympic Committee or Russian members of the IOC. In March, however, it issued a first set of recommendations for international sports federations to allow Russian and Belarusian athletes to return.

Persons: Benoit Tessier, Karolos Grohmann, Andrew Cawthorne Organizations: Ephemere, Rights, International Paralympic, IPC, Assembly, National Paralympic Committee, International Olympic, Russia's, Paris Olympics, IOC, Belarus Olympic, Thomson Locations: Paris, France, Russia, Bahrain, Mumbai, Belarus, Ukraine, Belarusian

☆ TikTok is paying a small army of creator coaches to help influencers make money from livestreams
▼ + stars: | 2023-09-13 | by ( Marta Biino | Dan Whateley | ) www.businessinsider.com time to read: +5 min

TikTok creators make money from livestreams by receiving virtual items from fans that can be converted into real money. Dozens of agencies have joined the TikTok Live partner program, two sources told Insider. How agents are helping creators boost livestream performanceUnsurprisingly, there is no single growth strategy that applies to all TikTok Live creators. "What's great about TikTok Live is that we get to see the data in real-time," Herndon said. On top of the agency program, TikTok also offers an "accelerator program" for individual creators who have already found success with livestreams to help them scale further.

Persons: TikTok, Salome Khazaradze, Khazaradze, Jack Healy, Bill Herndon, Herndon, Joseph Sottile, livestreams Organizations: Google, TikTok Spartans, ATRX Agency Locations: Europe

BEIJING, Sept 7 (Reuters) - Proposed changes to a Chinese public security law to criminalise comments, clothing or symbols that "undermine the spirit" or "harm the feelings" of the country have triggered the concern of legal experts, who say the amendments could be used arbitrarily. This week, several legal scholars and bloggers wrote editorials and social media posts calling for the removal of certain articles in the draft. "Who confirms the 'spirit of the Chinese nation' and according to what procedure? wrote Tong Zhiwei, a constitutional studies scholar at the East China University of Political Science and Law, on his Weibo social media account. Many people took to Chinese social media to express their worries that the amendments could lead to more censorship.

Persons: Xi Jinping, Tong Zhiwei, Tong, Martin Quin Pollard, Miral Organizations: National People's Congress, East China University of Political Science, Weibo, NPC, Global Times, Thomson Locations: BEIJING

☆ I'm PinkyDoll, the most popular NPC creator on TikTok. I don't care about the haters — what's important is my son is going to have a beautiful life.
▼ + stars: | 2023-08-24 | by ( Fortesa Latifi | ) www.businessinsider.com time to read: +5 min

"Mm, ice cream so good, yes yes yes. I first made my account last summer, and I started doing the NPC TikTok trend by accident a few months ago. I spend about six hours a day doing livestreams and making content. My other videos bring in a little income, but nowhere near as much as my NPC livestreams. I know what it's like to grow up with nothing, and I'm going to make sure he doesn't.

Persons: PinkyDoll, Sinon, livestreaming, They're, I'm, Timbaland, Haters, they're, It's, —, who's Organizations: Service, Fashion, Nova Locations: Wall, Silicon, Montreal, Québec, TikTok

☆ I'm PinkyDoll, the most popular NPC creator on TikTok. I don't care about the haters — they're just jealous I'm making money and they're not.
▼ + stars: | 2023-08-24 | by ( Fortesa Latifi | ) www.businessinsider.com time to read: +5 min

☆ This strange trend on TikTok could help bolster live-stream shopping
▼ + stars: | 2023-08-15 | by ( Grace Mayer | ) www.businessinsider.com time to read: +2 min

A strange trend has emerged on TikTok: creators are acting as video game characters over live streams. The popularity of these live streams could have implications for TikTok's live stream shopping ambitions. While the trend manifested organically from TikTok creators, it could have implications for live-stream shopping in the US, Bloomberg reported. For retailers, TikTok live streams could be a goldmine. Read more about the TikTok live streaming trend Bloomberg reported on here.

Persons: TikTok, Instagram, YouTube hasn't, TikToker, Read Organizations: Service, Bloomberg, YouTube Locations: Wall, Silicon, TikTok

REUTERS/Thomas Peter/File photoBEIJING, Aug 13 (Reuters) - China's State Council issued guidelines on Sunday that it said would further optimize the country's foreign investment environment and attract more foreign investment. The State Council said in a document containing 24 guidelines that authorities should increase protection of the rights and interests of foreign investors, including strengthening enforcement of intellectual property rights. The document also announced guidelines to increase fiscal support and tax incentives for foreign-invested enterprises, such as temporarily exempting withholding income tax for foreign investors' reinvestment of their profits into China. The State Council said it would explore a "convenient and secure management mechanism" for cross-border data flows. Reporting by Andrew Hayley and Ethan Wang; Editing by Andrew Heavens and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Peter, Andrew Hayley, Ethan Wang, Andrew Heavens, Bernadette Baum Organizations: National People's Congress, REUTERS, State, The State Council, Thomson Locations: Beijing, China, BEIJING

☆ China's central bank to guide more financial resources to support private sector
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Jason Lee/File PhotoBEIJING, Aug 3 (Reuters) - China's central bank governor pledged on Thursday to guide more financial resources towards the private economy, suggesting refreshed urgency from Beijing to bolster the confidence among private firms as economic momentum weakens. During a meeting on Thursday with at least eight private firms from sectors including property, aluminium and agribusiness, the People's Bank of China (PBOC) Governor Pan Gongsheng said the bank would roll out guidelines to support private firms. Responding to some firms' requests of broadening bond financing channels, Pan said the central bank would expand debt financing tools for them. "Financial institutions should actively create a positive atmosphere to support the development and growth of private firms ... and increase willingness to lend." To revive confidence among private businesses, head of the economic planner also held several meetings with private firms last month to learn about their operation difficulties.

Persons: Pan, Jason Lee, Pan Gongsheng, Ellen Zhang, Ryan Woo, Ella Cao, Jon Boyle, Alison Williams Organizations: People's Bank of China, Congress, REUTERS, HK, China Hongqiao, Chint, Thomson Locations: Beijing China, BEIJING, Beijing, China, Hope

☆ TikTok NPC streams are the latest viral trend. Here's a break down of the bizarre — and lucrative — craze.
▼ + stars: | 2023-07-21 | by ( Will Gendron | ) www.businessinsider.com time to read: +4 min

A new TikTok trend has creators acting like non-playable, video game characters — or NPCs. NPC streams can be lucrative, as viewers gift creators to control their actions. It started out with a combination of words that seems a little baffling: "Mmm ice cream so good, mmm ice cream so good, yes, yes, yes, yes, yes, yes," Pinkydoll, a content creator, said during a TikTok livestream. "Yes, yes, yes, gang, gang." While her phrase "yes, yes, yes" is a response to a virtual rose.

Persons: Pinkydoll, —, Sinon, Hayley DeRoche, there's Organizations: Morning, Twitter, Creators, New York Times, Guardian

☆ China's choice of PBOC party chief signals financial stability worries
▼ + stars: | 2023-07-04 | by ( Kevin Yao | ) www.reuters.com time to read: +5 min

The central bank did not immediately respond to Reuters' request for comment. Pan, central bank deputy governor since 2012 who turns 60 this month, is not expected to deviate from China's measured pace of policy easing to support the recovery, analysts said. "His professional ability will help safeguard the bottom line of systemic financial risks, especially as the property sector is slowing, and fend off a big systemic crisis." In an unexpected move, the ruling Communist Party appointed Pan as the central bank's party secretary on Saturday, taking over from Guo Shuqing. China has taken a series of steps this year to tighten party control over the country's vast, but largely closed, financial system, including plans to set up the Central Financial Commission to oversee the PBOC and other financial regulators.

Persons: Gongsheng, Jason Lee, Pan, Yi Gang, Gu Tianyong, Guo Shuqing, Yi, Yi's, Zhou Xiaochuan, Zhou, Xu Hongcai, Marius Zaharia, Jacqueline Wong Organizations: People's Bank of China, National People's Congress, REUTERS, outflows, Reuters, cryptocurrencies, prudential, Central University of Finance, Economics, Communist Party, Pan, Street, Cambridge University, Harvard University, Central Financial Commission, China Association of Policy, Thomson Locations: Beijing, China, BEIJING

☆ Analysis: Investors shelve China assets before bigger stimulus
▼ + stars: | 2023-06-23 | by ( Summer Zhen | ) www.reuters.com time to read: +5 min

[1/2] A view of the city skyline, ahead of the annual National People's Congress (NPC), in Shanghai, China February 24, 2022. A global fund manager survey by BofA Securities showed shorting Chinese stocks was the second-most "crowded" trade in June, after going long on big tech. "I can't believe that there is anymore bad news to absorb," said Andy Maynard, head of equities at China Renaissance. Restoring confidence is looking increasingly like a long-term project and investors are positioning for a longer game and a slower rebound. "We are all looking for something a bit more decisive in helping to restore animal spirits, investor confidence and market confidence, and I think that hope may be still at risk of being disappointed."

Persons: Aly, Morgan Stanley, Hong, Dong Chen, Andy Maynard, Morgan, James Liu, Guan Yi, Summer Zhen, Jason Xue, Tom Westbrook, Jacqueline Wong Organizations: National People's Congress, REUTERS, BofA Securities, Pictet Wealth Management, China, Reuters, G Investments, Thomson Locations: Shanghai, China, HONG KONG, Beijing, Asia, Singapore, Hong Kong, Pacific

☆ This video shows how Nvidia's AI could transform the experience of talking to video game characters
▼ + stars: | 2023-05-31 | by ( Will Gendron | ) www.businessinsider.com time to read: +3 min

Nvidia debuted a new AI tool at Computex Taipei that targets the video game experience. One video game alone can have dozens — if not hundreds — of non-player characters, or NPCs. These characters will also be able to generate facial expressions based on the audio inputs they receive, Nvidia said. What separates this brief interaction from encounters in other video games is the way Jin reacts and responds to the player. "Although he is an NPC, Jin replies to natural language queries realistically and consistent with the narrative backstory — all with the help of generative AI," Nvidia said in its press release.

Persons: Tom Nook, Zelda, Hyrule, Jensen Huang, Jin, Huang Organizations: Nvidia, Nintendo Locations: Taipei, Santa Clara

☆ China Development Forum: Li Qiang rolls out the welcome wagon for foreign companies
▼ + stars: | 2023-03-28 | by ( Laura He | ) edition.cnn.com time to read: +4 min

“China’s economy has been deeply integrated into the global division of labor.”Li pledged that the country will align with international economic and trade rules, give equal treatment to foreign investment and facilitate trade and investment by removing government controls. Worries about foreign investmentConcerns about foreign capital leaving China have grown. To boost business confidence, China’s new economic leadership is trying to reassure foreign business and the domestic private sector. “You are not foreigners, but family,” Wang Wentao, the commerce minister, told attendees at the China Development Forum. In a meeting with Cook on Monday, he said China is willing to “provide a good environment and services” for foreign enterprises including Apple.

☆ China to boost support for high-end manufacturing - Premier Li
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

[1/2] Chinese Premier Li Qiang waves as he leaves a news conference following the closing session of the National People's Congress (NPC), at the Great Hall of the People, in Beijing, China March 13, 2023. REUTERS/Florence Lo/PoolBEIJING, March 22 (Reuters) - China will strengthen its policy guidance to support advanced manufacturing, Premier Li Qiang was quoted as saying by state radio on Wednesday. China will create a market-oriented, legal and international business environment and strengthen the policy guidance to support advanced manufacturing, said Li. Li visited the southern province of Hunan from March 21-22 and hosted a forum on the development of advanced manufacturing, according to state radio. Reporting by Liangping Gao and Ryan Woo; Editing by Toby Chopra and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ China hopes Russia and Ukraine will hold peace talks, says senior Chinese diplomat
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

[1/2] Chinese Foreign Minister Qin Gang waves at the end of a news conference on the sidelines of the National People's Congress (NPC) in Beijing, China March 7, 2023. REUTERS/Thomas Peter/File PhotoBEIJING, March 16 (Reuters) - China is concerned about an escalation of the war in Ukraine and hopes Moscow and Kyiv will hold peace talks, senior Chinese diplomat Qin Gang told his Ukrainian counterpart on a phone call on Thursday. "China hopes that all parties will remain calm, rational and restrained, and resume peace talks as soon as possible," Qin told Ukrainian Foreign Minister Dmytro Kuleba, according to a Chinese foreign ministry statement. Qin added that China hopes Ukraine and Russia will not close the door to a political solution no matter how difficult and challenging the situation, the ministry said. "I underscored the importance of (Ukrainian President Volodymyr Zelenskiy's) Peace Formula for ending the aggression and restoring just peace in Ukraine," Kuleba wrote on Twitter.

☆ California menaced by heavy rain, flooding in latest 'atmospheric river' storm
▼ + stars: | 2023-03-14 | by ( Jeremy Schultz | ) www.reuters.com time to read: 1 min

Nearly 3,000 members of the National People's Congress (NPC) voted unanimously in the Great Hall of the People for the 69-year-old Xi in an election in which there was no other candidate.

☆ Top dogs compete at Britain's Crufts Dog Show
▼ + stars: | 2023-03-13 | by ( Jeremy Schultz | ) www.reuters.com time to read: 1 min

Nearly 3,000 members of the National People's Congress (NPC) voted unanimously in the Great Hall of the People for the 69-year-old Xi in an election in which there was no other candidate.

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