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☆ Australia PM to visit China, taking steps to resolve wine dispute
▼ + stars: | 2023-10-21 | by ( ) www.reuters.com time to read: +3 min

China announced in November 2020 it would impose anti-dumping and countervailing duties of up to 218% on most Australian wine, causing trade to collapse. The measures were part of a barrage of trade restrictions that China imposed after Australia called for an inquiry into the origins of COVID-19. Most of the trade restrictions have been lifted since a change of government in Canberra last year. Aside from wine, China maintains barriers on imports of lobsters and meat from some abattoirs. In 2019, Australia shipped wine worth around $800 million to China, its trade data show.

Persons: Anthony Albanese, Xi Jinping, Li Qiang, Albanese, Xi, Premier Li, Sam McKeith, Peter Hobson, Chizu Nomiyama, Sonali Paul Organizations: SYDNEY, Australian, Australia's, Huawei, Saturday, Trade Organization, China, Thomson Locations: China, Beijing, Shanghai, Canberra, Australia

☆ China's Singles Day sales festival wraps up with e-commerce giants reporting sales growth
▼ + stars: | 2023-10-21 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +3 min

SHANGHAI, Nov 12 (Reuters) - Alibaba Group (9988.HK) reported that its Chinese e-commerce platforms Tmall and Taobao recorded "positive" year-on-year growth over this year's Singles Day sales period, which wrapped up at midnight on Saturday. Meanwhile competitor JD.com (9618.HK) said its festival GMV (gross merchandising volume) hit a "record high" over the sales period. A Bain and Company report released last week found that 77% of the 3,000 consumers it surveyed had planned to spend less or the same on Singles Day compared with last year. Though several consultancies were predicting Singles Day GMV growth across platforms would reach anywhere from 14% to 18% - returning to double-digit growth for the first time since the pandemic - the final sales picture will take longer to energe. Colour cosmetics, traditionally a strong performer throughout the Singles Day sales period, were expected to struggle this year as make-up demand remains low almost a year after China lifted strict COVID-19 restrictions.

Persons: Taobao, JD.com, Alibaba, Bain, Casey Hall, Simon Cameron, Moore Organizations: Alibaba, HK, PDD Holdings, Company, Nike, Thomson Locations: SHANGHAI, China

☆ Australia PM to visit China, reaches deal to resolve WTO wine dispute
▼ + stars: | 2023-10-21 | by ( ) www.reuters.com time to read: +2 min

"Australia and China have agreed we will suspend the dispute on wine in the WTO pending the outcome of this review." The measures were part of a barrage of trade restrictions that China imposed after Australia called for an inquiry into the origins of COVID-19. Most of the trade restrictions have been lifted since a change of government in Canberra last year. Aside from wine, China maintains barriers on imports of lobsters and meat from some abattoirs. In 2019, Australia shipped wine worth around $800 million to China, its trade data show.

Persons: Anthony Albanese, Xi Jinping, Li Qiang, Albanese, Xi, Premier Li, " Albanese, Sam McKeith, Peter Hobson, Chizu Organizations: SYDNEY, Australian, Australia's, Trade Organization, China, Thomson Locations: China, Beijing, Shanghai, Australia, Canberra

Worries are growing about how much the turmoil could cost the global economy. Brent crude, the global oil benchmark, hit a three-week high this on Fridayfears that a military escalation could disrupt already tight supplies. In a speech largely focused on inflation, interest rates and economic growth, Jay Powell, the central bank’s chair, warned on Thursday that “geopolitical tensions are highly elevated and pose important risks to global economic activity.”The Middle East is becoming a wild card for the global economy. That would probably sap growth but might also slow the economy enough to negate the need for an additional interest-rate increase. The measures were announced days after the U.S. imposed tighter restrictions on sales of more advanced semiconductors to China.

Persons: Biden, —, Brent, Jay Powell, Powell, ” Powell, Kamala Harris, Jay Monahan, David Zaslav, Jim Jordan, Patrick McHenry, Jordan, there’s, Fran Drescher, George Clooney, ” Drescher, Sidney Powell, Donald Trump’s Organizations: Gaza, Israel, U.S . Navy, Intel, Siemens, European Commission, Digital Services, PGA, Warner Bros, Hollywood, SAG, Trump Locations: Mideast, Israel, Ukraine, Lebanon, U.S, Iran, Yemen, Syria, Iraq, Lisbon, Ohio, Trump . China, Beijing, China

☆ Industrial metals to remain vulnerable to more softness near-term, says Goldman
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 16 (Reuters) - Goldman Sachs on Monday said it expects industrial metals markets to remain vulnerable to incremental softness in the near term due to deteriorating demand and the impact from higher interest rates. "Building and construction activity remains the weakest segment, but there were downdrafts now noted in volume appetite from most other sectors, with the exception of aerospace," analysts at Goldman Sachs said. The copper market could face near-term pressure from the likelihood that Chinese imports of the metal could be restrained, the bank said. Three-month nickel on the London Metal Exchange was trading around $18,710 per metric ton by 1425 GMT on Monday.

Persons: Goldman Sachs, Andrew Kelly, downdrafts, Goldman, Brijesh Patel, Tina Parate, Sharon Singleton Organizations: New York Stock Exchange, REUTERS, Goldman, London Metal Exchange, Thomson Locations: New York City , New York, U.S, China, Bengaluru

Wang Yi, China's top diplomat, said the country would continue to play a constructive role in handling global "hotspot issues". But after the killings of more than 900 Israelis in coordinated assaults by the Islamic group Hamas, China's response was muted. China is willing to maintain communication with all parties and make unremitting efforts for peace and stability in the Middle East," Wang Wenbin, a foreign ministry spokesperson, said on Tuesday. "The achievement of peace in the Middle East region and the just settlement of the question of Palestine are inseparable." "China is very successful in a stable environment in the Middle East when it's possible to broker reconciliation agreements between Saudi Arabia and Iran," said Jean-Loup Samaan, Senior Research Fellow at the Middle East Institute of the National University of Singapore.

Persons: Washington . Wang Yi, Xi Jinping, Bill Figueroa, Wang Wenbin, COVID lockdowns, Xi, Steve Tsang, Zhai Jun, Liu Zhongmin, Yun Sun, Tuvia Gering, Jean, Loup Samaan, Samaan, Michael Martina, Don Durfee, Gerry Doyle Organizations: Hamas, University of Groningen, Palestinian, Western, SOAS China Institute, Palestinian Authority, West Bank, Arab League, EU, Palestine, United Nations, Abraham Accords, Institute for Middle East Studies of Shanghai International Studies University, China Program, Stimson, Institute for National Security Studies, Initiative, Middle East Institute of, National University of Singapore, Thomson Locations: China, Middle East HONG KONG, BEIJING, SINGAPORE, Saudi Arabia, Iran, Israel, Gaza, Saudi, Washington, Palestine, Netherlands, United States, PALESTINE, China's, Beijing, Russia, Ukraine, London, U.S

☆ U.S. senators led by Majority Leader Schumer make first congressional visit to China since 2019
▼ + stars: | 2023-10-07 | by ( ) www.cnbc.com time to read: +3 min

Senator Mike Crapo (R-ID) and other members of the delegation arrive at Shanghai Pudong International Airport in Shanghai, China, on Oct. 7, 2023. A delegation of U.S. lawmakers led by Senate Majority Leader Chuck Schumer arrived in China on Saturday in the first congressional visit to the country since 2019. Asked about his expectations for the visit, Schumer, a New York Democrat, said he hoped it would be productive. The U.S. Commerce Department added the Chinese companies and seven others to its entity list on Friday. A Chinese international relations expert said that Schumer's visit is a sign of improvement in China-U.S. relations.

Persons: Chuck Schumer, Mike Crapo, Joe Biden, Xi Jinping, Idaho Sen, Schumer, Biden, Xi, Wang Yiwei, Karine Jean, Pierre Organizations: International, U.S, Senate, Republicans, Idaho, Senate Finance, New, New York Democrat, U.S . Congress, U.S . Commerce Department, Ukraine, Biden, Economic Cooperation, Institute of International Affairs, Renmin University of China, White House Press Locations: U.S, Shanghai, China, New York, Beijing, Russia, Asia, San Francisco, South Korea, Japan

SHANGHAI (AP) — A delegation of U.S. lawmakers led by Senate Majority Leader Chuck Schumer arrived in China on Saturday in the first congressional visit to the country since 2019. The Republicans were led by Idaho Sen. Mike Crapo, the senior member of his party on the Senate Finance Committee. A smooth visit could help pave the way for a Biden-Xi summit during the Asia-Pacific Economic Cooperation leaders meeting in San Francisco next month. A Chinese international relations expert said that Schumer's visit is a sign of improvement in China-U.S. relations. The senators will go to South Korea and Japan after their stop in China.

Persons: Chuck Schumer, Joe Biden, Xi Jinping, Idaho Sen, Mike Crapo, Schumer, Biden, Xi, ”, Wang Yiwei, Karine Jean, Pierre Organizations: SHANGHAI, —, U.S, Senate, Republicans, Idaho, Senate Finance, New, New York Democrat, U.S . Congress, Biden, Economic Cooperation, Institute of International Affairs, Renmin University of China, White House Press Locations: China, Shanghai, New York, Beijing, U.S, Asia, San Francisco, South Korea, Japan

☆ Biden plans November meeting with China's Xi -Washington Post
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

[1/2] U.S. President Joe Biden meets with Chinese President Xi Jinping on the sidelines of the G20 leaders' summit in Bali, Indonesia, November 14, 2022. REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsWASHINGTON, Oct 5 (Reuters) - The White House is making plans for a face-to-face meeting between U.S. President Joe Biden and Chinese leader Xi Jinping in San Francisco next month as the two countries seek to stabilize troubled relations, the Washington Post reported on Thursday. Biden and Xi's last meeting was on the sidelines of the G20 summit in Indonesia in November 2022, which was their first in person meeting since Biden became president. China's top security agency hinted last month any meeting between Xi and Biden will depend on the United States "showing sufficient sincerity." Xi recently skipped the G20 summit in New Delhi that Biden attended.

Persons: Joe Biden, Xi Jinping, Kevin Lamarque, Antony Blinken, Janet Yellen, Gina Raimondo, Blinken, Han Zheng, Jake Sullivan, Wang Yi, Biden, Xi's, Xi, Raimondo, Yellen, Jasper Ward, Kanishka Singh, Chris Sanders, Chris Reese, Kim Coghill Organizations: REUTERS, Rights, Washington Post, Economic Cooperation, Thomson Locations: Bali , Indonesia, San Francisco, Taiwan, Washington, U.S, China, New York, Malta, Indonesia, United States, Beijing, Asia, New Delhi

☆ China rebukes EU after formal launch of EV subsidy probe
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +2 min

Car miniature, "Electric vechicles (EVs)" words, EU and Chinese flags are seen in this illustration taken, September 26, 2023. China also urged the European Union to safeguard the stability of the global supply chain and a strategic partnership between the two, while "prudently" applying trade remedies. The formal launch of the EU investigation came with an announcement in the bloc's official journal, which said China had been invited for consultations, although it did not give a timeframe. Information gathered by the Commission tended to show that producers in China benefited from subsidies to the detriment of EU industry, it added. The European Commission has said China's share of EVs sold in Europe has risen to 8% and could reach 15% in 2025.

Persons: Dado Ruvic, EVs, Chen Aizhu, Philip Blenkinsop, Christian Schmollinger, Clarence Fernandez Organizations: REUTERS, Rights, European Union, European Commission, World Trade Organization, Commission, European, Thomson Locations: Rights SINGAPORE, BRUSSELS, China, Europe

BEIJING (AP) — China's factory activity in September recorded its first expansion in six months, an official survey said Saturday, providing another sign that the world's second-largest economy is gradually improving following its post-pandemic malaise. The composite index rose to 52 from 51.3. Zhao said the improvement indicated by the latest indexes suggest the level of economic activity is rebounding. However, China's economic rebound remained uneven. China's economy grew at a 6.3% annual pace in the second quarter of this year, much slower than the 7%-plus growth that analysts had forecast based on the anemic pace of activity the year before.

Persons: —, Zhao Qinghe, Zhao, Hui Ka Yan Organizations: BEIJING, National Bureau of Statistics, China Federation of Logistics, Purchasing, China Evergrande, Investment Locations: China, Hong Kong

☆ China says it will resume visa-free policies to spur inbound travel
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

Passengers push their luggage through the international arrivals hall at Beijing Capital International Airport after China lifted the coronavirus disease (COVID-19) quarantine requirement for inbound travellers in Beijing, China January 8, 2023. REUTERS/Thomas Peter/File Photo Acquire Licensing RightsSINGAPORE, Sept 29 (Reuters) - China will resume visa-free policies and consider adding more countries to its visa-exemption list to help boost the country's post-pandemic tourism business, according to a policy document released on Friday. In a statement posted on the central government's website, it said visa-free policies and visa assurances on arrival would be promoted as well as smoother immigration clearances for cruises and self-driving tourists. The government also called for enhanced tax-rebate services such the creation of more tax-rebate shops. Reporting by Chen Aizhu; editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Peter, Chen Aizhu, Christina Fincher Organizations: Beijing Capital International, REUTERS, Rights, Thomson Locations: China, Beijing, Rights SINGAPORE, China's

☆ Senior US, China diplomats meet in Washington in latest effort to maintain dialogue
▼ + stars: | 2023-09-29 | by ( Kanishka Singh | Thomson Reuters | Kanishka Singh Is A Breaking News Reporter For Reuters In Washington Dc | ) www.reuters.com time to read: +2 min

U.S. Assistant Secretary of State for East Asian and Pacific Affairs Daniel Kritenbrink met with Chinese Vice Foreign Minister for Asia Sun Weidong, the State Department said in a statement on Thursday. More recently, Blinken met Chinese Vice President Han Zheng in New York and U.S. national security adviser Jake Sullivan met Chinese Foreign Minister Wang Yi in Malta. KEY QUOTES"The two sides held a candid, in-depth, and constructive consultation on regional issues as part of ongoing efforts to maintain open lines of communication," the State Department said. High-level talks between the two sides could help set the stage for a meeting between U.S. President Joe Biden and Chinese President Xi Jinping later this year. Reporting by Kanishka Singh and Eric Beech in Washington; Editing by Sonali Paul and Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Pacific Affairs Daniel Kritenbrink, Antony Blinken, Janet Yellen, Gina Raimondo, Blinken, Han Zheng, Jake Sullivan, Wang Yi, Kritenbrink, Joe Biden, Xi Jinping, Kanishka Singh, Eric Beech, Sonali Paul, Michael Perry Organizations: REUTERS, Rights, U.S, State, East Asian, Pacific Affairs, Foreign, Asia Sun Weidong, State Department, Thomson Locations: Washington, China, New York, U.S, Malta, Taiwan Strait, Myanmar, North Korea, Taiwan

A digital artwork by Chinese artist Snow Fish. The controversy has fueled online protests on the Chinese internet against the creation and use of AI-generated images, with several other artists claiming their works had been similarly used without their knowledge. Hundreds of artists have posted banners on Xiaohongshu saying “No to AI-generated images,” while a related hashtag has been viewed more than 35 million times on the Chinese Twitter-like platform Weibo. Besides Trik AI, Xiaohongshu has also developed a new function called “Ci Ke” which allows users to post content using AI-generated images. Snow Fish added that these complaints had been slowly growing within the artist community but had mostly been privately shared rather than openly protested.

Persons: Snow Fish, Fish, Bard, ERNIE Bot, SenseTime’s, Xiaohongshu, Snow, “, ”, Zhang, ’ Organizations: Hong Kong CNN — Artists, CNN, Xiaohongshu, City University of Hong, European, Capitol Hill Locations: China, Hong Kong, Weibo, United States, City University of Hong Kong, London, California

☆ China's outbound travel surges ahead of 'Golden Week' holidays
▼ + stars: | 2023-09-25 | by ( Jared Mitovich | ) www.cnbc.com time to read: +2 min

Outbound travel from China is surging ahead of the first "Golden Week" holiday period since the country has allowed international travel to resume and even as China's economic growth has slowed. Golden Week, which begins Oct. 1 this year, marks the annual weeklong period that includes the Mid-Autumn Festival and National Day in China. Trip.com said bookings for travel within China are up by four times compared with last year's Golden Week, with residents opting to travel between different provinces for longer periods of time. Northwest China's autumnal tours and South China's comfortable climate have made those destinations particularly popular, Trip.com said. Golden Week typically spurs hundreds of millions in China to travel.

Persons: Trip.com, Jane Sun, Sun, China — Organizations: International Airport, Beijing Capital International Locations: Shanghai, China, Singapore, Australia, Thailand, Sri Lanka, Uzbekistan, Covid, United Kingdom, South Korea

☆ Wang Bin: Chinese insurance boss sentenced to life in jail for corruption
▼ + stars: | 2023-09-13 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Wang Bin, the former chairman of one of China’s biggest life insurers, will spend the rest of his life in jail after a court found him guilty of corruption. Wang was accused of taking the bribes between 1997 and 2021, when he headed a number of state-owned financial institutions, including China Life Insurance, China’s Bank of Communications and China Taiping Insurance. “The amount of bribes Wang Bin accepted was particularly huge, the circumstances of the crime were particularly serious and the social impact was particularly bad,” the ruling said. He is the latest top executive to become ensnared in President Xi Jinping’s anti-corruption crackdown on the country’s $56 trillion financial sector. The sentence came more than a year after Wang, who was also the top Communist Party official at China Life, was investigated by the party’s top anti-graft agency.

Persons: Hong Kong CNN — Wang Bin, Wang, Wang Bin, Xi Jinping’s, Li Xiaopeng, Liu Liange, Bao Fan, Xi Organizations: Hong Kong CNN, China Life Insurance, China’s Bank of Communications, China Taiping Insurance, Communist Party, China, China Everbright, Bank of China Locations: China, Hong Kong, Jinan, China’s, Shandong, United States

☆ CHART OF THE DAY: Chinese growth expectations fall to 'lockdown lows,' fund manager survey says
▼ + stars: | 2023-09-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

BofA's survey of fund managers found that a net 0% expect a stronger Chinese economy in the next 12 months. Investors noted that China's real estate sector is the most likely source of any future credit event risk. Describing expectations as back to "lockdown lows," BofA noted that's a whopping plummet from February, when a net 78% of respondents anticipated a stronger economy. But China's economy has slowed sharply in subsequent months, with rapid cooldowns seen in retail sales, industrial output, exports, and investment. In fact, fund managers responding to BofA's survey placed China's real estate as the most likely source of a future systemic credit event.

Persons: BofA, China's Organizations: Investors, Service, Bank of America Locations: Wall, Silicon, China, Beijing

☆ The world’s biggest national park is larger than most countries
▼ + stars: | 2023-09-12 | by ( Joe Yogerst | ) edition.cnn.com time to read: +8 min

Sagarmatha National Park in Nepal safeguards the southern slopes of Mt Everest, the world’s highest peak at 8,849 meters (29,032 feet). Venezuela’s Canaima National Park is home to Angel Falls, the world’s tallest waterfall at 979 meters (3,212 feet). Larger than Delaware and roughly the same size as Wales, Yellowstone was considered huge when it became the world’s first national park in 1872. North AmericaSprawling across nearly half of the world’s largest island, Northeast Greenland National Park is currently the globe’s single largest national park and biggest land-based protected area. Imaginechina Limited/Alamy Stock PhotoDespite being the largest continent, Asia has fallen behind in the race for the world’s largest national parks.

Persons: Venezuela’s, there’s, ”, Mette Pike Barselajsen, Mercedes, China’s, Martin Harvey, Naukluft, it’s, Claire Christian Organizations: CNN, National, United Nations, Nanu, South America, Colombia Oculta, Simpson, Mercedes Benz G, Imaginechina, Bank, Getty, Conservation, Antarctic & Southern Ocean Coalition, Antarctic Locations: Nepal, Mt, Angel Falls, Angkor, Cambodia, Delaware, Wales, Yellowstone, North America, Greenland, Ittoqqortoormiit, “, East Greenland, South, Patagonia, Colombia, Australia, South Australia, Asia, Qinghai Province, Europe, Africa, Africa’s, Zambia, Zimbabwe, Mozambique, Angola, Namibia, Antarctica

☆ More Chinese cities lift home-buying curbs to revive demand
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, Sept 11 (Reuters) - Two major cities in eastern China lifted all curbs on home purchases and selling on Monday, joining several other cities in dropping restrictions to attract buyers and revive a largely frozen property market. Qingdao previously limited the number of homes that could be purchased in two districts. Last week, three cities - Nanjing in eastern Jiangsu province and Dalian and Shenyang in northeastern Liaoning province - became the first group of big cities to eliminate curbs on home buying. Smaller Chinese cities, whose property markets tend to have a larger share of their local economies, have already begun dismantling curbs. Jiaxing city, a relatively small city in the eastern province of Zhejiang, announced it would lift all curbs in the city in late August, according to a local media report.

Persons: Thomas Peter, Albee Zhang, Ryan Woo, Neil Fullick, Emelia Organizations: REUTERS, Rights, Thomson Locations: Beijing, China, Rights BEIJING, Jinan, Qingdao, China's, Shandong, Nanjing, Jiangsu, Dalian, Shenyang, Liaoning, Jiaxing, Zhejiang

☆ Security raid on Chinese academic fuels concern over Australia-China exchanges
▼ + stars: | 2023-09-11 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

The Chinese academic, who specialises in foreign affairs research at a Beijing university, had visited universities in three Australian states in July and August. The Guardian first reported on Monday that the man had his accommodation raided and his laptop taken by the Australian Security Intelligence Organisation and Australian Federal Police in Perth, and was told his visa was being assessed for security reasons. A high-level dialogue between Chinese and Australian academic, industry and media delegations resumed in Beijing on Thursday after a four-year halt. It included a Chinese scholar who had his Australian visa revoked in 2020 by ASIO, amid concern over foreign interference in politics. "Any Chinese academic with an interest in relations with Australia would surely be re-assessing travel plans fearing the same thing could happen to them.

Persons: Florence Lo, Anthony Albanese, James Laurenceson, Greg McCarthy, McCarthy, Albanese, Kirsty Needham, Christina Fincher Organizations: REUTERS, Rights, Guardian, Australian Security Intelligence Organisation, Australian Federal Police, Reuters, ASIO, China Relations Institute, University of Technology, University of Adelaide, Peking University, The Australian Federal Police, Thomson Locations: Australia, China, Western Australia, Beijing, Perth, Sydney, Canberra

☆ China may never become the world's biggest economy and has thrown out its old playbook, Mohamed El-Erian says
▼ + stars: | 2023-09-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

It's highly unlikely that China will implement large-scale stimulus, Mohamed El-Erian said. Without it, markets shouldn't expect China's previous rate of growth to come back, he wrote in the Financial Times. "Despite what many may continue to tell you, it is no longer a given that China will become the world's largest economy." After China lifted pandemic restrictions late last year, the economy saw a brief rebound early this year. Despite what many may continue to tell you, it is no longer a given that China will become the world's largest economy."

Persons: Mohamed El, Erian, That's, — Organizations: Financial Times, Service, supercomputing, Bloomberg Locations: China, Wall, Silicon, Beijing, El

☆ China, Australia Hold First High-Level Dialogue in Three Years in Beijing
▼ + stars: | 2023-09-07 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

By Joe CashBEIJING (Reuters) - China and Australia should "seriously consider" what they have learned from halting their high-level dialogue over the past three years, Li Zhaoxing, a former foreign minister, said on Thursday, as the talks restarted in Beijing. China accounts for nearly one-third of Australian trade, while Australia is China's eighth-largest trade partner. Diplomatic exchanges have been ramping up since Australia elected a Labor government in May 2022 and China lifted tariffs on its barley exports. "Over the past decades... China has not posed any threat to Australia, and will not do so in the future. The Australian delegation also includes former Liberal foreign minister Julie Bishop, whose inclusion was to show bipartisan political support, the statement said.

Persons: Joe Cash, Li Zhaoxing, Li, Craig Emerson, Penny Wong, Julie Bishop, Emerson, Anthony Albanese, Li Qiang, Whitlam’s, " Albanese, Kirsty Needham, Christian Schmollinger Organizations: Joe Cash BEIJING, Australia, Labor, Australian, Australian Foreign, Liberal, Australia's, ASEAN Locations: China, Australia, Beijing, Canberra, Jakarta, Sydney

A coffee machine featuring Novo Nordisk logo is seen at the company headquarters in Copenhagen, Denmark, February 5, 2020. REUTERS/Jacob Gronholt-Pedersen/File Photo Acquire Licensing RightsLONDON, Sept 1 (Reuters) - Danish drugmaker Novo Nordisk briefly unseated LVMH (LVMH.PA) as Europe's most valuable listed company in intraday trading on Friday, ending the French luxury group's 2-1/2 year-long reign at the top. At 0843 GMT, Novo Nordisk (NOVOb.CO) had a market capitalisation of $421 billion including unlisted stock, according to Refinitiv data and company disclosures of its share count. By 1031 GMT, Novo Nordisk shares were up 1% while LVMH shares were down 0.4%. LVMH shares have fallen 13.8% from an all-time high hit in April, underperforming Europe's broader STOXX 600 which is down around 1.9% in the same time frame.

Persons: Jacob Gronholt, Pedersen, LVMH, Ozempic, Wegovy, Novo's, Louis Vuitton, Marcel Stotzel, Stotzel, Eli Lilly, Axelle Pinon, Mounjaro, Novo, Carmignac's Pinon, Hennessy, Tiffany, Fiona Cincotta, Hermes, Samuel Indyk, Amanda Cooper, Catherine Evans Organizations: Novo Nordisk, REUTERS, Nestle, Dior, Fidelity European Fund, Fidelity European Trust, Barclays, Index, Financiere, Thomson Locations: Copenhagen, Denmark, Danish, LVMH, United States, China, Covid

☆ Sinopec sets up new entity to expand refinery investment abroad
▼ + stars: | 2023-08-31 | by ( Chen Aizhu | ) www.reuters.com time to read: +4 min

The company logo of China’s Sinopec Corp is displayed at a news conference in Hong Kong, China March 26, 2018. After a quiet launch in late June of Sinopec Overseas Investment Holding as its sole platform for investing, building and operating refineries abroad, Sinopec is building up the team and setting the budget for the new entity, two company officials told Reuters. One such investment could be in Sri Lanka, where Sinopec was shortlisted to bid for an export-oriented refinery in Hambantota potentially worth billions of dollars. Sinopec is also among companies reviewing Shell's Singapore refinery and petrochemical assets, Reuters reported recently, although its president this week denied such interest. Sinopec declined to comment on that matter.

Persons: Bobby Yip, Zhao Dong, Sinopec, Sushant Gupta, Wood Mackenzie, Gupta, Russia's, PetroChina, Exxon Mobil's, Glencore, CNPC, Chen Aizhu, Tony Munroe, Miral Organizations: REUTERS, Rights, Sinopec Overseas Investment Holding, Reuters, China Petrochemical Corp, Saudi Aramco, Wood, Gas Chemical, Russia's Sibur, Exxon, Sinopec, Thomson Locations: Hong Kong, China, Sri Lanka, Hambantota, Singapore, Yanbu, Saudi Arabia, East Siberia, France, Scotland, Japan, XOM.N, Altona, Australia, Brazil, Beijing, South Africa

☆ China had almost 2 million excess deaths after the end of ‘zero-Covid,’ U.S. study finds
▼ + stars: | 2023-08-26 | by ( Jennifer Jett | Cheng Cheng | ) www.cnbc.com time to read: +3 min

There were almost 2 million excess deaths in the two months after China lifted its "zero-Covid" restrictions, a U.S. study found, contradicting official figures from Beijing that have been criticized as too low. Researchers estimate there were 1.87 million excess deaths from all causes among people 30 years and older from December 2022 to January, according to the study from the Fred Hutchinson Cancer Center in Seattle published Thursday. "Our study of excess deaths related to the lifting of the zero-Covid policy in China sets an empirically derived benchmark estimate," the researchers wrote. The way the study estimates data is not "scientifically rigorous," but it is nonetheless an "objective" and "beneficial" attempt, Jin added. Jin said the actual data could be a few percentage points lower or higher than the study estimates.

Persons: Fred, Jan, Zhanwei Du, Lauren Ancel Meyers, Jin Dong, Jin Organizations: Fred Hutchinson Cancer Center, University of Hong, University of Texas, Baidu Locations: China, U.S, Beijing, Seattle, Tibet, University of Hong Kong, Austin

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