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☆ Tesla to skip Shanghai Autoshow, organiser's plan shows
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, April 14 (Reuters) - Tesla will not occupy a booth at China's largest annual autoshow to be held next week in Shanghai, according to plans published by the event's organisers. The financial hub is set to host Auto Shanghai between April 18-27. It is Asia's largest auto show where brands from BYD (002594.SZ) to Volkswagen (VOWG_p.DE) are expected to show off their latest models and technologies. Tesla, which has a large electric vehicle factory in Shanghai, has attended the show in past years. Tesla and Auto Shanghai did not immediately respond to a request for comment when asked about the U.S. automaker's participation at the Shanghai auto show on Friday.

☆ China's March factory activity growth falters on weaker demand - Caixin PMI
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

BEIJING, April 3 (Reuters) - China's factory activity growth stalled in March, weighed down by slowing production and weaker global demand and adding to uncertainty about a post-COVID recovery, a private sector survey showed on Monday. The reading far missed expectations of 51.7 in a Reuters poll, and echoed slower growth in an official PMI released on Friday. However, a property downturn, weaker global demand and financial uncertainty raised doubts about the strength of the rebound. The factory activity was hit by slower growth in production and demand in March with sub-indexes both falling from the previous month. The new export orders sub-index fell to 49.0 after briefly swinging into growth in February, suggesting global demand remains weak.

☆ Exclusive: Elon Musk plans China visit, seeks meeting with premier
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +3 min

SHANGHAI/HONG KONG, March 31 (Reuters) - Tesla (TSLA.O) Chief Executive Elon Musk is making plans to visit China as early as April and is seeking a meeting with China's Premier Li Qiang, two people with knowledge of planning for the trip told Reuters. The exact timing of the visit is subject to Li Qiang's availability, one of the sources said. China is Tesla's second-largest market after the United States and its Shanghai plant is the electric carmaker's largest production hub. A visit by Musk would mark his first visit to China since the COVID-19 pandemic and since Xi Jinping secured a third term as China's president. The sources did not say what Musk intends to discuss with Li or do in China.

☆ Exclusive: Tesla's Musk planning to visit China, seeking meeting with premier -sources
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: 1 min

SHANGHAI/HONG KONG, March 31 (Reuters) - Tesla (TSLA.O) Chief Executive Elon Musk is making plans to visit China as early as April and is seeking a meeting with China's Premier Li Qiang, two people with knowledge of planning for the trip told Reuters. Tesla and China's State Council Information Office did not immediately reply to requests for comment. China is Tesla's second-largest market after the United States and its Shanghai plant is the electric carmaker's largest production hub. A visit by Musk would mark the first time he has visited China since the COVID-19 pandemic and since Xi Jinping secured a third term as China's president. Reporting by Zhang Yan in Shanghai and Julie Zhu in Hong Kong; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ Tesla's Musk planning to visit China, seeking meeting with premier, sources say
▼ + stars: | 2023-03-31 | by ( ) www.cnbc.com time to read: 1 min

Customers examine cars at a Tesla store in Jinan, China on March 27, 2023. Tesla Chief Executive Elon Musk is making plans to visit China as early as April and is seeking a meeting with China's Premier Li Qiang, two people with knowledge of planning for the trip told Reuters. Tesla and China's State Council Information Office did not immediately reply to requests for comment. China is Tesla's second-largest market after the United States and its Shanghai plant is the electric carmaker's largest production hub. A visit by Musk would mark the first time he has visited China since the Covid-19 pandemic and since Xi Jinping secured a third term as China's president.

☆ Exclusive: Tesla's Musk planning to visit China, seeking meeting with premier
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: 1 min

SHANGHAI/HONG KONG, March 31 (Reuters) - Tesla (TSLA.O) Chief Executive Elon Musk is making plans to visit China as early as April and is seeking a meeting with China's Premier Li Qiang, two people with knowledge of planning for the trip told Reuters. Tesla and China's State Council Information Office did not immediately reply to requests for comment. China is Tesla's second-largest market after the United States and its Shanghai plant is the electric carmaker's largest production hub. A visit by Musk would mark the first time he has visited China since the COVID-19 pandemic and since Xi Jinping secured a third term as China's president. Reporting by Zhang Yan in Shanghai and Julie Zhu in Hong Kong; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ China's Premier Li Qiang seeks to rally Asia behind Beijing
▼ + stars: | 2023-03-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

China's Premier Li Qiang addressed an international audience at Boao Asia forum in Boao, Hainan on March 30, 2023. BO'AO, China — Chinese Premier Li Qiang sought to rally Asian countries behind China in his first public address to an international audience as premier. His speech of about 25 minutes at the Boao Forum for Asia did not delve into China's heightened tensions with the U.S. Asia and the world are at the "crossroads" of history, Li said, while portraying China as a center of stability. Li, who was confirmed as premier in March, said China's development going forward would bring "strong momentum to the economic growth of Asia."

☆ Boao Forum: Li Qiang says China 'confident and capable' of hitting 2023 growth targets
▼ + stars: | 2023-03-30 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The forum often promotes itself as “Asian Davos” and Li is tasked with reviving the world’s second largest economy at a time of sluggish growth. China, he said, will roll out new measures to boost domestic consumption and increase market access for foreign business while ensuring the stability of the financial sector. (Photo by AFP) / China OUT (Photo by STR/AFP via Getty Images) Stringer/AFP/Getty ImagesThe Boao Forum for Asia has been held annually since 2001, but was suspended in 2020 because of the pandemic. But the problems have been exacerbated by the Communist Party’s erratic and draconian zero-Covid policy, which ended late last year, and a sweeping crackdown on private business. To boost business confidence, China’s new economic leadership is trying to reassure both foreign business and the domestic private sector.

[1/4] China's newly-elected Premier Li Qiang takes an oath after being elected during the fourth plenary session of the National People's Congress (NPC) at the Great Hall of the People in Beijing, China on March 11, 2023. Previously the Communist Party chief in Shanghai, Li was confirmed as premier during the National People's Congress, charged with managing the world's second largest economy. "Officials know that Li Qiang is Xi Jinping's guy," he said. "He clearly thinks that Li Qiang is a very competent person and he has put him in this position because he trusts him and he expects a lot of him." American author Robert Lawrence Kuhn, who met Li and Xi together in 2005 and 2006, said the two shared an easy rapport.

☆ Li Qiang becomes China's premier, tasked with reviving economy
▼ + stars: | 2023-03-11 | by ( ) www.cnbc.com time to read: +5 min

Li Qiang, likely to become the next premier, is pictured here speaking at a major annual financial conference in Shanghai in 2020. Li Qiang, the former Communist Party chief of Shanghai, took office on Saturday as China's premier, the country's No.2 post, putting the close ally of President Xi Jinping in charge of reviving an economy battered by three years of COVID-19 curbs. Li Qiang is the first premier since the founding of the People's Republic never to have served previously in the central government, meaning he may face a steep learning curve in the initial months on the job, analysts said. Still, Li's close ties with Xi - Li was Xi's chief of staff between 2004 and 2007, when the latter was provincial party secretary of Zhejiang province - will empower him to get things done, leadership-watchers said. "My reading of the situation is that Li Qiang will have a lot more leeway and authority within the system," said Trey McArver, co-founder of consultancy Trivium China.

☆ China says its official bilateral loans are less than 5% of Ghana debt
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +1 min

March 2 (Reuters) - China's official bilateral loans involving Ghana account for less than 5% of the West African country's total debt, the Chinese foreign ministry said on Thursday. Multilateral and commercial debt account for the vast majority of Ghana's external debt, ministry spokesperson Mao Ning said at a regular press briefing. Germany's finance minister recently singled out China during a visit to Ghana, as he called on countries that have lent to the embattled nation to form a creditor committee quickly to help it restructure its debt. China has been consistent in criticising multilateral lenders for not taking haircuts on loans extended to debtor countries while Beijing is being asked to do so on credit it has extended bilaterally. Ghana owes China $1.7 billion, according to the International Institute of Finance, a financial services trade association focused on emerging markets.

☆ Asian shares higher as dollar retreats, risk events abound
▼ + stars: | 2022-12-09 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

SYDNEY, Dec 9 (Reuters) - Asian shares tracked Wall Street higher amid hopes that China's economy would pick up pace as COVID-19 curbs ease, although caution ahead of a week full of risk events, including the Federal Reserve's policy meeting, could cap sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.9% in early trade, edging closer to a three-month high hit earlier in the week. "This slowing is not a signal that the central bank's job is nearly done...the slower pace of hikes starts a new phase of the Fed's tightening cycle," said Brian Martin, head of G3 economics at ANZ. The U.S. dollar slid 0.2% against a basket of major currencies on Friday, on top of a drop of 0.4% overnight. U.S. West Texas Intermediate (WTI) crude futures surged 0.9% to $72.11 per barrel, while Brent crude settled at $76.15 a barrel, 1% higher.

☆ China names Xi Jinping loyalists for core leadership group
▼ + stars: | 2022-10-23 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

China's President Xi Jinping (L) walks with members of the Chinese Communist Party's new Politburo Standing Committee, the nation's top decision-making body, as they meet the media in the Great Hall of the People in Beijing on Oct. 23, 2022. BEIJING — Chinese President Xi Jinping broke precedent Sunday by paving the way for his third term as president, and the likely appointment of a premier with no prior experience as vice premier. Li Qiang, party secretary of Shanghai, walked out second behind Xi at a meeting with press on Sunday. Li is a known Xi loyalist and oversaw stringent Covid controls in Shanghai earlier this year. However, Li Qiang has not previously held a vice premier role, according to a state media biography.

☆ Factbox: Who's in, who's out of China's new party Central Committee
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Oct 22 (Reuters) - Over 2,000 delegates to a twice-a-decade congress of China's ruling Communist Party in Beijing elected a new 205-person Central Committee on Saturday that will set the course of Chinese policymaking for the next five years. Among the newly elected members of the Central Committee, the largest of the party's top decision-making bodies, was Xi Jinping, 69, who is widely expected to be named general secretary on Sunday, securing a precedent-breaking third term as its leader. Also on Sunday, the Central Committee will vote on its next Political Bureau, or Politburo, usually comprising 25 people, and its Politburo Standing Committee (PSC), the pinnacle of power in China, helmed by Xi. Under an unofficial "seven-up, eight-down rule," PSC members who are 68 or older retire during the party congress. However, Premier Li Keqiang, although 67, was also left out.

☆ China's Premier Li Keqiang left off new party Central Committee
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Oct 22 (Reuters) - Chinese Premier Li Keqiang and three other members of the elite Politburo Standing Committee of the ruling Communist Party were excluded from the newly elected Central Committee on Saturday. More than 2,000 delegates to a once-every-five-years party congress in Beijing elected a 205-person Central Committee as well as 171 alternate members. Li Keqiang, 67, Li Zhanshu, 72, Wang Yang, 67, and Han Zheng, 68 - members of the current seven-person Standing Committee - were excluded from the new Central Committee. The Central Committee will convene behind closed doors at its first plenary session, or plenum, on Sunday to vote on the next Politburo, usually comprising 25 people, and its Standing Committee. Vice Premier Liu He, 70, China's economic czar, was also excluded from the new Central Committee.

☆ China's top leaders are set for a reshuffle. Here are the names to watch
▼ + stars: | 2022-10-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +8 min

China's top leadership team around President Xi Jinping is set to change this month at a twice-a-decade congress. One of the most closely watched changes in the political reshuffle is the future of Premier Li Keqiang, who turned 67 this year. However, he could remain a standing committee member, JPMorgan analysts said, pointing to a precedent at the 15th party congress. Huang Kunming — Politburo member and head of China's propaganda department, who worked closely with Xi in the provinces of Fujian and Zhejiang, the report said. Yang Jiechi, a 72-year-old Politburo member and director of the party's central committee foreign affairs office, is widely expected to retire.

☆ The world's largest trade deal could be signed in 2020 — and the US isn't in it
▼ + stars: | 2019-11-12 | by ( Yen Nee Lee | ) www.cnbc.com time to read: +5 min

Manan Vatsyayana | AFP | Getty ImagesAfter more than six years of negotiations, more than a dozen countries in Asia Pacific are now aiming to sign what would be the world's largest trade agreement in 2020. All 16 countries started negotiating RCEP in 2013, when talks for another major trade pact — the Trans-Pacific Partnership or TPP — were underway. Given China's absence in the then U.S.-led TPP, which was slated to be the world's largest trade deal, many observers considered RCEP a way for Beijing to counter American influence in the region. The final text with details of the trade agreement will go through legal reviews before being signed and released. Deborah Elms, executive director at consultancy Asian Trade Centre, told Reuters that would help Asian producers to sell more of their products to the rest of the region.

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