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☆ IQiyi, the Netflix of China, posts first year of profits and says it's 'excited' about Sora
▼ + stars: | 2024-02-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Bloomberg | Bloomberg | Getty ImagesBEIJING — Chinese video content and streaming company iQiyi CFO Wang Jun said he is "excited" about potential new business opportunities with the emergence of OpenAI's text-to-video tool Sora. Speaking exclusively to CNBC on Thursday, Wang said such tools can help iQiyi tell stories more creatively, and that internally, it is exploring the text-to-video space. For 2023, iQiyi said Wednesday its original content accounted for a record 65% of major dramas it released. Other major Chinese video platforms with longer-form content include Tencent Video, Alibaba -owned Youku and Bilibili . Recent data insights show more people across China are watching iQiyi's content on internet-connected television sets, and, increasingly screens inside electric cars, Wang said.

Persons: Wang Jun, Wang, OpenAI, Sora, iQiyi Organizations: Bloomberg, Getty, CNBC, Apple Locations: BEIJING, U.S, Beijing, China

In it, Wang films Yi and Chang going about their daily lives with bits of playfulness mixed in. “But now that we made this movie and it’s going to the Oscars, we do kind of feel like movie stars. “That’s kind of why we made this movie,” Wang says. “We’re going to the Oscars and I’m going with my grandmas,” Wang says, smiling. Says Wang: “They’re offer only.”___Follow AP Film Writer Jake Coyle at: http://twitter.com/jakecoyleAP___For more on this year’s Oscars, visit: https://apnews.com/hub/academy-awards

Persons: Sean Wang’s, Yi Yan Fuei, Chang Li Hua, Wang, Yi, Chang, Sean, “ Wài, Nǎi, ”, Wài, ” Chang, Zoom, Oscar, wasn’t Bradley Cooper's, Emma Stone’s, Sam Davis, that’d, ” Yi, ” Wang, “ It’s, they’ve, “, Miles, voicemails, “ We’re, Will Ang Lee, Says Wang, Jake Coyle Organizations: Bay Area, Academy, Disney, SXSW, Sundance Film, Sundance, U.S, Focus Locations: Bay, Los Angeles, Taiwan, Taiwanese, New York

☆ Lunar New Year traditions through the lens of three photographers
▼ + stars: | 2024-02-13 | by ( Momo Takahashi | ) www.businessinsider.com time to read: +7 min

Xia documented their Lunar New Year's dinner that they hosted with their sibling and a few close friends. Ramona Jingru WangWang said Lunar New Year is important to her because it allows her to connect with family and friends through a shared cultural experience. "It's a television performance program that every Chinese family watches at the same time," she said. AdvertisementLee documented her time at the home of her uncle, Szuning Lee, in Chinatown for the Lunar New Year. Sam Lee"We didn't celebrate Christmas, so this was our Christmas," Szuning said, recalling his childhood memories of Lunar New Year.

Persons: —, Caroline Xia Xia, Xia, Leslie, Caroline Xia, Caroline Xia Ramona Jingru Wang Wang, Wang, Ramona Jingru Wang Wang, Meiting, Ramona Jingru Wang, Ramona Jingru Wang Sam Lee Lee, Lee, Szuning Lee, we've, Sam Lee, Szuning Organizations: Service, Business, East Asian, TV Locations: East, China, South Korea, Vietnam, Queens , New York, New York City, Hainan, Chinese American, Chinatown, Mulberry, New York

☆ Asian Cup: South Korea beat Saudi Arabia in dramatic penalty shootout to advance to the quarterfinals
▼ + stars: | 2024-01-31 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +3 min

CNN —South Korea was on the verge of being eliminated from the AFC Asian Cup after going 1-0 down against Saudi Arabia, but managed to turn things around with a late equalizer from Cho Gue-sung followed by a decisive 4-2 penalty shootout win. Giuseppe Cacace/AFP/Getty ImagesSouth Korea managed to grow into the game and began to rain chances down on the opposition goal late on. Saudi Arabia goalkeeper Ahmed Al-Kassar was called into action to deny Hwang In-beom and Seol Young-woo as the game ticked towards the final whistle. Hassan Tambakti of Saudi Arabia and South Korea captain Son Heung-Min battle for the ball. Robert Cianflone/Getty ImagesSouth Korea keeper Jo Hyeon-woo played hero in the shootout, saving Saudi Arabia’s final two spot-kicks before Wolves’ Hwang fired his deciding penalty into top corner, punching South Korea’s ticket to the quarterfinals.

Persons: Cho Gue, Roberto Mancini, Saleh Al, Ali Lajami, Salem, Abdullah Radif, slotting, Radif, Giuseppe Cacace, Ahmed Al, Kassar, Hwang, Seol Young, Cho, Hwang Hee, Hassan Tambakti, Son Heung, Robert Cianflone, Jo Hyeon, Wolves ’ Hwang, Jürgen, ”, “, Klinsmann Organizations: CNN, AFC Asian, Manchester City, Green Falcons, Getty, Warriors, Saudi, Wolves, South, US men’s, “, Australia –, Tottenham Hotspur Locations: South Korea, Saudi Arabia, Italy, AFP, Korea, Saudi, Indonesia, ” South Korea

☆ U.S.-China fentanyl talks get off to a 'productive' start, security advisor says
▼ + stars: | 2024-01-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Chinese Minister of Public Security Wang Xiaohong (C) announces the launch of the U.S.-China Counternarcotics Working Group next to U.S. Deputy Assistant to the President and Deputy Homeland Security Advisor Jen Daskal (center L) at the Diaoyutai State Guesthouse in Beijing on January 30, 2024. Ng Han Guan | Afp | Getty ImagesBEIJING — The U.S. and China had a "productive" first day of talks in Beijing about the fentanyl crisis, Jennifer Daskal, a deputy homeland security advisor, told NBC News' Janis Mackey Frayer in an exclusive interview Tuesday. "We're looking for results and we had a productive step forward," Daskal said, while acknowledging the risk that China could use its sway over the fentanyl supply chain as a bargaining chip. Daskal, leader of the White House delegation for this week's high-level talks, said the diversity of representatives from both sides "showed a real commitment." "We will know if it works if we start seeing the supply of precursor drugs diminish, if we start seeing the supply of pill presses and other equipment diminish," Daskal said.

Persons: of Public Security Wang Xiaohong, Jen Daskal, Ng, Guan, Jennifer Daskal, Janis Mackey Frayer, Daskal, Joe Biden, Xi Jinping, Wang Xiaohong, Wang, Biden, Hua Zhendong, Mackey, Hua, Yu Haibin, Yu, NBC's Mackey Frayer Organizations: of Public Security, U.S ., Homeland, Getty, NBC News, National Narcotics Control Commission, Public Security, Public Security's Institute of Forensic Science, China -, Counternarcotics, White House, International Narcotics Control Locations: U.S, China, Diaoyutai, Beijing, Afp, BEIJING, The U.S, Mexico, Washington, San Francisco

☆ Why China poses a growing threat to the U.S. auto industry
▼ + stars: | 2024-01-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Tesla CEO Elon Musk, whose company operates a large plant in China, has said Chinese automakers are the greatest competitors for his Texas-based company. "They were 26% [market share] a few years ago, up to more than 50% in 2022 and headed towards two-thirds by the end of the decade." Chinese companies have begun expanding into Mexico, Europe and elsewhere, Wakefield said. The EU believes Chinese EVs are undercutting the prices of local models by about 20% in the European market. The influx of Chinese EVs has spurred the European Union to launch into government support for the industry.

Persons: —, Carlos Tavares, Elon Musk, Tesla, Musk, BYD, Massimo Pinca, Reuters BYD, Kristin Dziczek, Mathew Vachaparampil, Bernstein, Eunice Lee, Mark Wakefield, Evelyn Cheng, hasn't, Wakefield, That's Organizations: GM, Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, DETROIT, American, of, SAIC, Dongfeng, General Motors, U.S . Bureau, Analysis, America —, Chrysler, America's GM, Ford Motor, automakers, The New York Times, Economist, Reuters, Federal Reserve Bank of Chicago's, Caresoft, Overseas, Chicago, CNBC, European Union, EU, Union, Volvo, Karma, Ford, U.S, Buick, Lincoln Nautilus Locations: Shanghai, U.S, of China, Asia, Europe, China, Japan, Nio, Mexico, Korea, Germany, Beijing, Texas, Turin, Italy, Federal Reserve Bank of Chicago's Detroit, AlixPartners, Russia, America

☆ Ukraine piling pressure on China but Beijing’s peace plans are focused on Gaza
▼ + stars: | 2024-01-19 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —As Ukraine scrambles to keep international support with Russia’s invasion grinding into a third year, its leader has made clear one country he would like to see join his push for peace: China. There, Zelensky told reporters he would “very much like China to be involved” in Ukraine’s peace plan. “China thinks it is already playing an important role in moving toward peace. There is even less reason for China to ‘advance a fair peace as advocated by the West and Ukraine,’” she said. But when it comes to how Beijing may maneuver toward brokering peace in Gaza, China likely doesn’t see itself as yet having captured the opportunity “to present itself as a conflict mediator,” according to Sun.

Persons: Ukraine scrambles, –, Volodymyr Zelensky, Zelensky, Li Qiang, Zelensky –, It’s, ”, Yun Sun, Xi Jinping, ’ ”, Li, Wang Yi, Wang, Xi, Alex Gabeuv, Israel, “, Svitlana Organizations: Hong Kong CNN —, Economic, Stimson, Kyiv, Sun, West, CNN, Arab League, Palestine, Global, Carnegie Russia Eurasia Center, China’s, Ministry Locations: Hong Kong, Ukraine, China, Beijing, Switzerland’s Davos, Interfax, Russia, Washington, Moscow, Davos, Gaza, Russia’s, CNN China, Cairo, Africa, Israel, Palestine, United States, that’s, Berlin, Global, Switzerland, Saudi Arabia, counterbalancing, Kyiv, London

☆ A Cybertruck driver documented his 1340-mile road trip — and the issues he ran into with the Tesla EV
▼ + stars: | 2024-01-14 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

AdvertisementYouTuber Dennis Wang is one of the first drivers to document a cross-country road trip in the much-hyped Cybertruck, just weeks after the first vehicles were shipped to customers. But he ran into some issues along the way — including difficulties with charging and a glitch in Tesla's infotainment system. He also said that closing the tonneau, the cover that spans the back of the truck, helped improve the Cybertruck's range. But despite the hiccups along the way, Wang enjoyed the experience, especially the spacious cabin and comfort of the vehicle. "It's a fantastic truck," Wang said.

Persons: Dennis Wang, Tesla, —, Wang, Joshua Tree, he's, Wang isn't, Dennis Wang Plus, YouTuber Organizations: Service, YouTube, Bloomberg Locations: Austin , Texas, California, Texas

☆ A celebrity chef is getting canceled for making a video about egg fried rice close to the 63rd death anniversary of Mao Zedong's son
▼ + stars: | 2023-12-01 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

A Chinese celebrity chef is facing backlash over an egg fried rice tutorial he posted on Monday. Nationalists believe egg fried rice is a reference to an unconfirmed story of how Mao Anying died. Per the story, he stole eggs from the camp's supplies and cooked himself egg fried rice in broad daylight — a violation of army rules at the time. Critics of the Mao regime post photos of egg fried rice or make a point to eat the dish on this day. "Do ordinary folk eating egg fried rice have to skip a day?"

Persons: Wang Gang, Mao Zedong's, Mao Anying, —, Wang, influencer, Mao Organizations: Communist, Service, Communist Party, China Digital Times, Daily, Wang Locations: China, Weibo, Korea, North Korea, Jiangsu, Nanchang, US

☆ China's Didi Global says ride-hailing app had 'systems malfunction'
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

A man passes by a car of Chinese ride-hailing service Didi at the Shanghai Hongqiao International Airport in Shanghai, China August 14, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsSHANGHAI/BEIJING, Nov 27 (Reuters) - Didi Global said on Monday its ride-hailing app had experienced a "systems malfunction" after users in multiple cities including Beijing and Shanghai said they were unable to book rides in the evening. The company apologised for the issue on its official Weibo account and said it was urgently trying to fix it. Didi is China's largest ride-hailing company, with its service in the country delivering average daily transactions of 31.3 million in the third quarter. Reporting by Brenda Goh in Shanghai and Ethan Wang in Beijing; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Didi, Aly, Didi Global, Brenda Goh, Ethan Wang, Jan Harvey Organizations: Shanghai Hongqiao International, REUTERS, Rights, Thomson Locations: Shanghai, China, Rights SHANGHAI, BEIJING, Beijing, Weibo, Zhejiang, Jilin

3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022. Two company sources told Reuters that Ma's move had generated a lot of discussion within the company, as did Jiang's post. Alibaba and the Jack Ma Foundation, the philanthropic organization that handles media queries for the billionaire, did not immediately respond to requests for comment. In her internal note, Jiang also repeated comments from Ma's family office shared with the Alibaba-owned newspaper South China Morning Post on Friday that Ma remained "very positive" about Alibaba and that his family trust eventually did not sell a single share. The company has also been grappling with some upheaval in its top ranks, welcoming a new CEO, Eddie Wu, in September.

Persons: Dado, Jack Ma's, Jiang Fang, Jiang, Jack Ma, Ma, Alibaba, Eddie Wu, Daniel Zhang, Casey, Jenny Wang, Brenda Goh, David Evans Organizations: REUTERS, Rights, HK, Reuters, Jack Ma Foundation, China Morning, Casey Hall, Thomson Locations: Rights SHANGHAI, BEIJING, Shanghai, Beijing

☆ Everything we know about 'Squid Game' season 2
▼ + stars: | 2023-11-22 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +1 min

Season one's protagonist Seong Gi-hun (Lee Jung-jae) will return in season two. Lee Jung-jae as Seong Gi-hun in "Squid Game" season two. In a Netflix statement shared in June 2022, "Squid Game" creator Hwang Dong-Hyuk confirmed that Gi-hun will return for the second season. While the extent of his role in the second season has not been clarified, he will likely be fighting against the people in charge of the competition. In August 2022, Hwang indicated to The Hollywood Reporter that season two will focus on Gi-hun's transformation from the end of the first season.

Persons: Seong, Lee Jung, jae, Cho Sang, Oh, Hideo Kimura, Hwang Dong, Hyuk, Hwang Organizations: Netflix, Hollywood Reporter

Japan's Prime Minister Fumio Kishida and Chinese President Xi Jinping pose for a family photo during Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. They also pledged to hold high-level dialogue on economic issues and welcomed the launch of a framework to discuss export controls as they met on the sidelines of an Asia Pacific Economic Cooperation summit. In a joint statement in 2008, Japan and China agreed to pursue a "mutually beneficial relationship based on common strategic interests" designed to ensure frequent leadership exchanges on issues such as security and economic cooperation. On the sidelines of the APEC summit, Kishida has also met South Korean President Yoon Suk Yeol for their seventh meeting this year. Leaders from the 21-member Asia-Pacific Economic Cooperation forum are in San Francisco for its 30th summit from Nov. 15-17.

Persons: Fumio Kishida, Xi Jinping, Carlos Barria, Xi, Kishida, Joe Biden, Biden, Washington, Rumi Aoyama, Aoyama, Yoon Suk, Yoon, Mariko Katsumura, John Geddie, Kaori Kaneko, Sakura Murakami, Ethan Wang, Stephen Coates, Raju Gopalakrishnan Organizations: Japan's, Economic Cooperation, REUTERS, Asia, Astellas Pharma, ., Waseda Institute of Contemporary Chinese, APEC, South, Thomson Locations: Asia, San Francisco , California, U.S, China, San Francisco, Japan, Taiwan, Beijing, United States, Tokyo

New York is the $1.35 trillion fund's only office outside mainland China besides Hong Kong. CIC asked Bai Xiaoqing, who was in charge of some of its private equity investments from Beijing, to move to New York for the North America head role, the sources said, requesting anonymity because the move has not been publicly announced. U.S. authorities have been especially suspicious of investments originating from entities close to China's communist government, like CIC. CIC is also a significant investor in U.S. private equity funds, as so-called alternative assets comprise almost half of its portfolio. One of its most prominent investments has been a $2.5 billion Goldman Sachs Group Inc (GS.N) private equity fund aimed at investing in companies that can benefit from closer U.S.-China ties.

Persons: Bai Xiaoqing, Zhang Hong, Bai, Zhang, Peng Chun, Larry Fink, Milken, Echo Wang, Roxanne Liu, Kane Wu, Greg Roumeliotis, Edwina Gibbs Organizations: China Investment Corp, North America, CIC, Foreign Investment, American Enterprise Institute, Public, Goldman Sachs Group Inc, China -, China - U.S . Industrial Cooperation Fund, Britain, BlackRock Inc, BlackRock, China's Ministry of Finance, Industrial, Commercial Bank of China, U.S . Treasury, Thomson Locations: North, New York, China, Hong Kong, Washington, Beijing, United States, U.S, China - U.S, BlackRock

The company logo of China International Capital Corporation Ltd (CICC), China’s first joint venture investment bank, is displayed at a news conference on the company's annual results in Hong Kong, China March 30, 2016. China is Brazil's largest trading partner, however Chinese investments in Brazil fell 78% in 2022, the Brazil-China Business Council (CEBC) said in August. "We believe that more Chinese investment will be willing to ... invest into the Latin America region, especially in Brazil," said Lin. "I don't remember when politics got so involved in daily business," Lin said, reflecting on her 21 years in business. However, there were still Chinese companies listing here, said Lin and China's securities regulator China Securities Regulatory Commission had pre-approved 20 Chinese ADRs.

Persons: China’s, Bobby Yip, Lindsay Lin, Lin, CICC, acquirer, Biden, Didi Global, we're, ” Lin, Megan Davies, Echo Wang, Diane Craft Organizations: China International Capital Corporation, REUTERS, Securities, China International Capital Corp, HK, Reuters NEXT, China Business Council, Monetary Fund, China Securities Regulatory Commission, Reuters, reuters, Thomson Locations: Hong Kong, China, Brazil, New York, America, Latin America, U.S, China's

☆ Hwang In-tae: The South Korean referee making history officiating in the NBA
▼ + stars: | 2023-10-31 | by ( Ben Morse | Gawon Bae | ) edition.cnn.com time to read: +8 min

But Hwang In-tae, who is the first Asian staff referee in the NBA, wouldn’t have it any other way. Stephen Gosling/NBAE/Getty ImagesRoute to the topJust like unearthing a future NBA or WNBA star, there is a scouting group to find potential standout NBA referees. Hwang (right) and Shin (middle) before a game at the 2014 Incheon Asian Games with fellow FIBA referee Kim Cheong-soo (left). Courtesy Shin Gi-rokAnd Shin believes that Hwang’s rise will prove to be motivation for others in similar positions to him. “There are few new referees at the Korea Basketball Association right now saying that their goal is to become an NBA referee.

Persons: CNN — You’ve, Hwang, Shin Gi, ” Shin, Shin, ”, “, It’s, Hwang officiates, Stephen Gosling, nbaofficials.com, He’s, ” Hwang, Star Charles Barkley, ” Barkley, CNN’s Chris Wallace, They’re, Both Hwang, Kim Cheong Organizations: CNN, NBA, rok, Busan University of Foreign Studies, CNN Sport, America, Connecticut Sun, Washington Mystics, Korean Basketball League, Olympics, Summer, FIBA, International Basketball Federation, G League, G, WNBA, Washington Post, Star, “, Korean Basketball Association, Incheon, Games, Korea Basketball Association Locations: South Korea, Shin, North America, Spain, Incheon, Masan

☆ Chinese fighter jet got within 10 feet of US bomber over South China Sea, US military says
▼ + stars: | 2023-10-26 | by ( Natasha Bertrand | ) edition.cnn.com time to read: +3 min

CNN —A Chinese fighter jet came within 10 feet of a US Air Force B-52 bomber flying over the South China Sea on Tuesday, according to the US military. Beijing cut off the communications after then-House Speaker Nancy Pelosi visited Taiwan last year, infuriating Chinese leaders. China uses its military might to assert its claims of sovereignty in the South China Sea and beyond, including Taiwan. In 2022, the Chinese military increased its aggressive actions towards the independent island territory, including ballistic missile overflights, military aircraft flying into Taiwan’s aerial identification zone and major exercises near Taiwan. Though Xi has said he is seeking the peaceful unification of Taiwan with China, he has not renounced the use of military force to achieve his goal.

Persons: “, Joe Biden, Wang Yi, Wang, Antony Blinken, Jake Sullivan, Biden, Xi Jinping, Ely Ratner, ” Ratner, Nancy Pelosi, “ I’ve, ”, Adm, John Aquilin, Xi Organizations: CNN, US Air Force, Pacific Command, ”, Foreign, APEC, US, East, South China, National Defense Strategy, America Locations: South, US, San Francisco, Beijing, Taiwan, China

Blinken told the United Nations this week that he would work with Wang to prevent the conflict in the Middle East from spreading. “China and the United States need to have dialogue. But while the U.S. has publicly stood with Israel, China has called for a cease-fire between Israel and the Western-designated terrorist group Hamas stationed in Gaza. Gavin Newsom met with Xi – the first meeting between a U.S. governor and Xi in six years. While more routes of communication may be opening, China-U.S. relations shouldn’t be mistaken as entirely pleasant at the moment.

Persons: Wang Yi, Antony Blinken, Wang, Blinken, ” Wang, John Kirby, Kirby, ”, Joe Biden's, Jake Sullivan, Biden, Xi Jinping, Gavin Newsom, Xi –, Xi, Newsom, “ We’ve, We’ve, Wu Qian Organizations: Foreign, U.S, State Department, United, National Security, Economic Cooperation, California Gov, CNN, Pentagon Locations: Washington, China, Gaza, Ukraine, United Nations, United States, U.S, Israel, “, Tehran, Asia, San Francisco, California

☆ Exclusive: Biden set to speak with China's top diplomat Wang Yi on Friday, sources say
▼ + stars: | 2023-10-26 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

U.S. President Joe Biden delivers remarks on healthcare coverage and the economy, at the White House in Washington, U.S. July 7, 2023. REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsWASHINGTON, Oct 25 (Reuters) - President Joe Biden is expected to speak with Wang Yi when China's top diplomat visits the White House this week, according to two U.S. officials familiar with planning for the visit. The White House declined to comment. It is unclear how substantial their interaction will be, but even an informal greeting would be Biden's senior-most interaction with the Chinese government since he briefly met Chinese President Xi Jinping's No. He also warned Chinese officials against aggression toward the Philippines.

Persons: Joe Biden, Jonathan Ernst, Wang Yi, Wang, Jake Sullivan, Biden, Xi Jinping's, Li Qiang, Xi, Antony Blinken, Blinken, Qin Gang, Trevor Hunnicutt, Heather Timmons, Lincoln Organizations: White, REUTERS, Rights, Economic Cooperation, Chinese Communist Party, Thomson Locations: Washington , U.S, New Delhi, Asia, San Francisco, Bali, Washington, Beijing, China, Philippines, United States

Those meetings could set the stage for a summit between President Joe Biden and Chinese President Xi Jinping next month on the sidelines of an Asia-Pacific Economic Cooperation forum leaders gathering in San Francisco. Political Cartoons View All 1218 ImagesIn the months that followed that crisis, however, Blinken rescheduled his trip and went to China in June. The Chinese president last came to the U.S. in 2017, when former President Donald Trump hosted him at his Mar-a-Lago resort in Florida. The Chinese president told the governor that “the achievements of China-U.S. relations have not come easily and should be cherished all the more,” according to the official news agency Xinhua. It deteriorated further over a range of issues, including rights abuses, the South China Sea, Taiwan, technology and the COVID-19 pandemic.

Persons: Wang Yi, Antony Blinken, Jake Sullivan, Joe Biden, Xi Jinping, Blinken, Janet Yellen, John Kerry, Gina Raimondo, Sullivan, Wang, Han Zheng, Biden, “ Wang Yi’s, Ryan Hass, John L, ”, Yun Sun, Xi, “ Wang, ” Sun, ” Scott Kennedy, Kennedy, Donald Trump, Gavin Newsom, Chuck Schumer, Schumer, Trump Organizations: WASHINGTON, —, Hamas, Economic Cooperation, Ukraine, General Assembly, Biden, Thornton China Center, Brookings Institute, China Program, Stimson Center, San, APEC, Center for Strategic, International Studies, Chinese Foreign Ministry, U.S . California Gov, Xinhua Locations: East, Europe, U.S, China, Washington, Israel, Russia, Ukraine, Asia, San Francisco, The U.S, Taiwan, South, North Korea, Malta, New York, Lago, Florida, Bali , Indonesia, Beijing, South China Sea

☆ NBA 'first class' in China despite past turbulence, says Yao
▼ + stars: | 2023-10-25 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

President of Chinese Basketball Association and Ice and Snow Sports Promotion Ambassador Yao Ming attends a media event ahead of the Beijing 2022 Winter Olympics in Beijing, China January 17, 2022. REUTERS/Yew Lun Tian/File Photo Acquire Licensing RightsNEW YORK, Oct 25 (Reuters) - The National Basketball Association (NBA) and China may have encountered turbulence in their relations over the years but retired great Yao Ming told Reuters the league is still "first class" in his home country. Yao propelled the league's popularity in his home country but relations between China and the NBA have not always been smooth. "I have to say, the NBA is in the first class... (because) you know the players being exposed in China for so long," Yao said, when asked about the past issues between China and the NBA. "The players, the teams (are) all still very well welcome in China and (we had) a couple of players with (in) China just this past summer."

Persons: Yao Ming, Yao, Daryl Morey, Dwight Howard, Kyle Anderson, Jimmy Butler, Adam Silver, Silver, Peng Shuai, Peng, Amy Tennery, Echo Wang, Christian Radnedge Organizations: Chinese Basketball Association and, Snow Sports, REUTERS, National Basketball Association, Reuters, Chinese Basketball Association, Houston Rockets, NBA, Minnesota Timberwolves, FIBA, Miami, Women's Tennis Association, Thomson Locations: Beijing, China, United States, Hong Kong, Taiwan, New York

☆ Wembanyama is a talent beyond compare, says Yao
▼ + stars: | 2023-10-25 | by ( Amy Tennery | ) www.reuters.com time to read: +1 min

NEW YORK, Oct 25 (Reuters) - France's Victor Wembanyama possesses a talent that defies comparison, retired great Yao Ming told Reuters, as the seven-foot four-inch (2.24-metre) rookie makes his highly anticipated National Basketball Association (NBA) regular-season debut on Wednesday. "I never see a big guy like, you know, (who) can do such a thing like he does," said Yao, an eight-times NBA All-Star who stands two inches (five cms) taller than Wembanyama. Yao spent his entire NBA career with the Houston Rockets and remains an iconic figure of Chinese sport after fuelling the popularity of the NBA in his home country. The Hall of Famer was reluctant to offer advice to Frenchman Wembanyama, who enters the NBA at a time of unprecedented international participation in the league. "He has his own expedition to go (on)," said Yao, who was travelling to New York as part of a some 30-person Chinese delegation this week.

Persons: Victor Wembanyama, Yao Ming, LeBron James, Yao, Frenchman Wembanyama, I'm, Amy Tennery, Echo Wang, Clare Fallon Organizations: Reuters, Basketball Association, San Antonio Spurs, Texan, Dallas Mavericks, NBA, Houston Rockets, Famer, Thomson Locations: New York

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsWASHINGTON, Oct 23 (Reuters) - Officials from the United States and China on Monday held a two-hour long virtual meeting to discuss domestic and global macroeconomic developments, the U.S. Treasury Department said, calling the meeting "productive and substantive". U.S. and Chinese officials also raised "areas of concern," statements from the two sides said, without elaborating. The meeting was led by senior officials from the U.S. Treasury Department and China's finance ministry. The EWG was launched last month following U.S. Treasury Secretary Janet Yellen's trip to Beijing in July. China's top diplomat will travel to the United States later this week to meet Blinken.

Persons: Dado Ruvic, Joe Biden, Xi Jinping, Janet Yellen's, Antony Blinken, Gina Raimondo, Blinken, Han Zheng, Jake Sullivan, Wang Yi, Kanishka Singh, Liz Lee, Ethan Wang, Christian Schmollinger Organizations: REUTERS, Rights, U.S . Treasury Department, Economic, Treasury Department, Treasury, U.S . National, Thomson Locations: United States, China, Taiwan, San Francisco, People's Republic of China, U.S, Beijing, Yellen, New York, Malta, China's, Washington

☆ Morgan Stanley downgrades this Chinese e-commerce stock on weak consumer demand
▼ + stars: | 2023-10-13 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Uncertainty around growth and profitability for JD.com has kept Morgan Stanley "waiting for the silver lining." Shares tumbled more than 8% during Thursday's trading session, hitting a 52-week low, and fell another 4.5% in the premarket Friday. "We have low conviction in a strong recovery in growth in 2024 and beyond," said analyst Eddy Wang. The analyst cut his earnings estimates by 3% for 2023, 4% for 2024 and 7% for 2025 amid China's slower-than-expected consumption recovery, as well as a slower ramp-up of the company's initiatives. JD YTD mountain JD.com shares —CNBC's Michael Bloom contributed to this report.

Persons: JD.com, Morgan Stanley, Eddy Wang, Wang, JD, CNBC's Michael Bloom Organizations: JD Locations: Thursday's, 3Q23, China, China's, PDD

☆ The same day SBF promised his hedge fund wasn't getting special treatment, FTX gave it an unlimited line of credit — which other customers didn't get
▼ + stars: | 2023-10-06 | by ( Katie Balevic | ) www.businessinsider.com time to read: +5 min

The same day, the FTX rolled out a feature allowing Alameda to get an unlimited line of credit. Those other accounts signed a line of credit agreement, but Alameda was never required to sign such an agreement, Wang testified. He increased Alameda's line of credit incrementally to a few million, a few hundred million, a billion, and eventually tens of billions. At some point in late 2019 or early 2020, Wang checked Alameda's balance and noticed it was negative. Even doing so, Wang said Alameda's balance was still negative, meaning the money was coming from FTX customers.

Persons: Sam Bankman, Fried, —, FTX, Gary Wang, SBF, Wang, Nishad Singh, Bankman, Caroline Ellison, Sam, FTX's, Adam Yedidia, Yedidia Organizations: Alameda Research, Service, Twitter, Alameda Locations: Alameda, FTX, Manhattan, Bankman, FTT

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