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Jason Lee | ReutersBEIJING — China's ambassador to the U.S., Xie Feng, has blamed U.S. tariffs and export controls for a drop in trade between the two countries. "This is a direct consequence of U.S. moves to levy Section 301 tariffs on Chinese imports, abuse unilateral sanctions and further tighten up export controls," he said. China's trade partnersThe U.S. is China's largest trading partner on a single country basis. Following her meetings with Chinese government officials, the U.S. and China agreed to establish regular communication channels on commerce, export controls and protecting trade secrets. Xie claimed that average U.S. tariffs on Chinese products were 19%, while the Chinese tariffs on U.S. goods averaged 7.3%.
Persons: Jason Lee, Xie Feng, Xie, Gina Raimondo's, Raimondo, Trump, Joe Biden, Janet Yellen Organizations: Reuters, Reuters BEIJING —, Forbes, U.S, China Business Forum, European Union and Association of Southeast, . Commerce Secretary, . Commerce, The Locations: Washington, Beijing, Taiwan, South China, Reuters BEIJING, U.S, China, New York, U.S . China, United States, Nations, France, Japan, The U.S
Below are five charts showing what's been moved and/or shaken:1/SHOCK FOR THE STOCKSMSCI's 24-country emerging markets (EM) stocks index (.MSCIEF) is down 6% this month. It is still up for the year, though well below the 13.5% gain this year for MSCI's main global index, which has benefited from a boom in U.S. "mega-cap" stocks. "The markets that have underperformed are the lower-yielding markets like Asia," Mike Arno, a portfolio manager at Brandywine Global, said. "The market doesn't seem to think that China is a major threat," said Aegon Asset Management's head of EM debt, Jeff Grills. Reuters Graphics5/OUT OF AFRICAThe other big trouble spot has been Africa, where debt markets have seen a sharp pullback.
Persons: Jason Lee, what's, Tayyip Erdogan's, Katherine Marney, Mike Arno, Jeff, Erdogan, Van Eck's, Eric Fine, Viktor Szabo, Szabo, Marc Jones, Rodrigo Campos, Alex Richardson Organizations: REUTERS, Reuters, JPMorgan, Brandywine, FX, HK, EMBI, abrdn, Thomson Locations: Beijing, China, Africa, MIWD00000PUS, Hungary, America, Brazil, Argentina, Asia, TURKEY, Gabon, Niger, JPMorgan's Africa, London, New York
People walk past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. The meeting called for coordinating financial support to resolve local debt risks, and adjusting policy for real estate loans. The weak financial situation of local governments has prevented the central government from supporting the economy with fiscal policy, Rhodium Group analysts said in June. Earlier this year, authorities emphasized that preventing financial risks was a priority. "China's ongoing property downturn and COVID restrictions last year have strained the finances of many local governments," S&P Global Ratings analysts said in an early July report.
Persons: Jason Lee, Pan Gongsheng Organizations: People's Bank of China, Reuters, Group, China, Global, National Administration of Financial, China Securities Regulatory, Central Financial Locations: Beijing, China, Reuters BEIJING, Shanghai, Shenzhen
Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee/ File Photo Acquire Licensing RightsBEIJING, Aug 20 (Reuters) - China will coordinate financial support to resolve local government debt problems, the central bank said in a statement on Sunday, as policymakers look to shore up an increasingly shaky economic recovery and reassure worried investors. Financial departments should coordinate support to resolve local debt risks, enrich tools to prevent and resolve debt risks, strengthen risk monitoring and firmly hold the line on avoiding systemic risk, according to the PBOC statement. Bloomberg reported on Aug. 11 that China will offer local governments a combined 1 trillion yuan ($137 billion) in bond issuance quotas for refinancing. "Financial support to the real economy must be strong enough" while major banks should increase lending, the statement said.
Persons: Jason Lee, Fitch, Pan Gongsheng, Xiao Yuanqi, Li Chao, PBOC, Ellen Zhang, Siyi Liu, Ryan Woo, Kim Coghill Organizations: People's Bank of China, REUTERS, Rights, Communist Party, Bloomberg, PBOC, National Financial Regulatory, China Securities Regulatory, Thomson Locations: Beijing, China, Rights BEIJING
The headquarters of the People's Bank of China, the central bank, is pictured behind an iron chain in Beijing August 30, 2010. REUTERS/Jason Lee/File Photo Acquire Licensing RightsAug 21 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The People's Bank of China is expected to cut interest rates on Monday, but it may have to throw caution to the wind and 'go big' if it is to soothe the nervousness and concern around China currently sweeping through financial markets. Either way, investors will be looking to Beijing and Jackson Hole this week for some degree of assurance and guidance. Here are key developments that could provide more direction to markets on Monday:- China interest rate decision- Thailand GDP (Q2)- Hong Kong inflation (July)By Jamie McGeever; Editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.
Persons: Jason Lee, Jamie McGeever, Jerome Powell, Xi Jinping, Xi, Goldman Sachs, Goldman, Jackson, Diane Craft Organizations: People's Bank of China, REUTERS, People's Bank of, Bank of Korea, Bank Indonesia, U.S, U.S . Federal, Goldman, Barclays, Treasury, Thomson, Reuters Locations: Beijing, People's Bank of China, China, Asia, U.S ., Brazil, Russia, India, South Africa, U.S, Thailand, Hong Kong
Wind turbines and solar panels are seen at a wind and solar energy storage and transmission power station from State Grid Corporation of China, in Zhangjiakou of Hebei province, China, March 18, 2016. GLOBAL REACH WITH BACKHAUL POTENTIALChina's recyclers also have strong international supply lines thanks to the country's vast export-oriented manufacturing sector and resulting dominance in global shipping container trade. ECO-FRIENDLY ECOSYSTEMSChina's plan to develop a large scale recycling sector for the renewables industry is in keeping with the country's practice of developing interdependent ecosystems around key industries. The country aims to develop similar strongholds in auto and electronics manufacturing, and may now extend that framework to the renewables energy sector, which Beijing has identified as a key industry for the remainder of this century. For recycling firms based elsewhere that had been planning to scale up their handling of older green energy equipment, the prospect of a government-backed competitor in China may be a cause for concern.
Persons: Jason Lee, recyclers, China's, Gavin Maguire, Jamie Freed Organizations: Grid Corporation of, REUTERS, Reuters, Thomson Locations: Grid Corporation of China, Zhangjiakou, Hebei province, China, LITTLETON , Colorado, United States, Asia, Beijing
A man wearing a mask walks past the headquarters of the People's Bank of China, the central bank, in Beijing, China, as the country is hit by an outbreak of the new coronavirus, February 3, 2020. REUTERS/Jason Lee/File Photo Acquire Licensing RightsBEIJING, Aug 17 (Reuters) - China's central bank said on Thursday it would keep liquidity reasonably ample and keep its policy "precise and forceful" to support the country's economic recovery, amid rising headwinds. The People's Bank of China (PBOC) will "better leverage the dual functions of aggregate and structural monetary policy tools and firmly support the recovery and development of the real economy," the bank said in its second-quarter monetary policy implementation report. Markets widely expect the bank to loosen monetary policy further. China will also prevent overshooting risks of the yuan exchange rate and fend off systemic financial risks, the central bank said.
Persons: Jason Lee, Liangping Gao, Ella Cao, Kevin Yao, Toby Chopra, Hugh Lawson Organizations: People's Bank of China, REUTERS, Rights, HK, Thomson Locations: Beijing, China, Rights BEIJING
The 0.2% fall month-on-month came after June's flat reading, according to Reuters calculations based on National Bureau of Statistics (NBS) data. The decline in home prices comes amid a worsening debt crisis at major developers, sliding property investment and home sales. Among 70 cities, 49 saw a fall in new home prices month-on-month in July from 38 cities the previous month. However, most economists expect the downside trend in home sales and prices to persist for while. "Without additional major policy easing and/or fiscal support, property sales and investment may weaken further or stay at the bottom for longer than assumed in our baseline," said Wang.
Persons: Jason Lee, Goldman Sachs, Wang Tao, Wang, Qiaoyi Li, Liangping Gao, Ryan Woo, Sam Holmes Organizations: REUTERS, National Bureau of Statistics, Goldman, Asia Economics, China, UBS Investment Bank, Thomson Locations: Wangjing, China, BEIJING, Zhengzhou, Xian, Fuzhou
A man rides his bicycle across the street under the Guomao bridge at the Central Business District in Beijing, China, October 19, 2015. Bank of China didn't immediately reply to a Reuters' request for comment. The move follows pay cuts being made at investment banks such as China International Capital Corp (CICC) (3908.HK). Two of the sources said the bank had finished implementing the plan at its headquarters in the first half of the year. A third source said the bank's Shanghai branch staff last week received notice that the bank would be reducing pay gaps there.
Persons: Jason Lee, Xi Jinping, Bank of China didn't, Ziyi Tang, Rong Ma, Ryan Woo, Hugh Lawson Organizations: Central Business District, REUTERS, Bank of China Ltd, Communist Party, Bank of, China International Capital Corp, HK, of, Central Commission, Inspection, Shanghai, Thomson Locations: Beijing, China, BEIJING, Bank of China, of China, Shanghai
Logo of China Life Insurance is seen on a door at a branch in Beijing, China, March 24, 2016. REUTERS/Jason Lee/File PhotoHONG KONG, Aug 7 (Reuters) - China Life Insurance (Overseas) Hong Kong has mandated banks for its 10-year subordinated bond offering, according to a preliminary term sheet seen by Reuters on Monday. China Life did not respond to an email from Reuters seeking comment on the deal. The last time China Life tapped the bond market was in March 2019, when it issued 35 billion yuan's worth in China's interbank bond market. Reporting by Georgina Lee in Hong Kong and Scott Murdoch in Sydney; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.
Persons: Jason Lee, HONG KONG, Georgina Lee, Scott Murdoch, Edwina Gibbs Organizations: China Life Insurance, REUTERS, Reuters, P Global, Thomson Locations: Beijing, China, HONG, Hong Kong, Sydney
REUTERS/Jason Lee/Illustration/File PhotoAug 4 (Reuters) - Global money market funds attracted massive inflows in the week to Aug. 2 as investors sought safer assets amid a U.S. credit downgrade and weak economic data from the euro zone and China. Investors poured in a net $67.52 billion into global money market funds during the week, marking the biggest weekly net purchase since March 22, according to Refinitiv Lipper data. The U.S. and the European money market funds drew $58.56 billion and $14.35 billion worth of inflows, respectively, while Asia faced a second weekly outflow, amounting to $360 million. Riskier global equity funds still received inflows worth about $4.45 billion in a second straight week of net purchases. Data for 24,127 emerging market funds showed that investors withdrew about $487 million from bond funds after eight straight weeks of net purchases.
Persons: Jason Lee, Fitch, Gaurav Dogra, Patturaja, Shilpi Majumdar Organizations: Hong, REUTERS, Investors, Reuters Graphics Reuters, AAA, Global, Equity, Thomson Locations: Hong Kong, China, United States, Europe, U.S, Asia, Bengaluru
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
Xi appoints new chief of China's nuclear arsenal
  + stars: | 2023-07-31 | by ( ) www.reuters.com   time to read: +1 min
Until his move to the PLA Rocket Force, Wang had been deputy commander of the navy since 2020. State media did not say where the PLA Rocket Force's previous chief, Li Yuchao, was reassigned or state his whereabouts. Xi has repeatedly urged the military to deepen war and combat planning to increase the chances of victory in actual combat to safeguard China's sovereignty and territory. China says it is committed to a defensive nuclear strategy, and pledges to no first use of nuclear weapons. It says it will also not use or threaten to use nuclear weapons against non-nuclear weapon states or nuclear weapon free zones.
Persons: Jason Lee, Xi Jinping, Wang Houbin, Xu Xisheng, Wang, Xu, Li Yuchao, Xi, Ryan Woo, Alex Richardson Organizations: Military, People's, REUTERS, People's Liberation Army, PLA Rocket Force, Navy, Southern Theatre Command, PLA, Thomson Locations: People's Republic of China, Beijing, China, BEIJING
Jason Lee | ReutersBEIJING — China-focused venture capital and other private investment funds have had a slow start to the year and are set to drag down Asia-Pacific fundraising to the lowest in 10 years. Alternative assets include venture capital, but not publicly traded stocks and bonds. watch nowChina-focused venture capital funds raised $2.7 billion in the second quarter, a drop of more than 50% from the first quarter, Preqin said. That dragged down overall VC fundraising in Asia-Pacific to $4.5 billion in the second quarter, the lowest in at least five years, the report said. In China, new rules for private investment funds are set to take effect Sept. 1, with a stated goal of "guiding" venture capital investment for long-term investment in "innovative startups."
Persons: Jason Lee, Angela Lai, Preqin, Andrew J, Sherman, Brown Rudnick, Lai Organizations: Reuters, U.S, D.C, CNBC, Partners Locations: Reuters BEIJING — China, Asia, Pacific, Preqin, China, U.S, Sherman , Washington, India, Japan
REUTERS/Jason Lee/Pool/File PhotoWASHINGTON, July 20 (Reuters) - The White House on Thursday expressed regret that Henry Kissinger was able to get more of an audience in Beijing than some sitting U.S. officials, after the former top diplomat held talks in China. The White House said it was aware of the trip but that it was a private visit by a citizen. "It's unfortunate that a private citizen can meet with the defense minister and have a communication and the United States can't," said White House National Security Council spokesperson John Kirby. Kirby said that administration officials "look forward to hearing from Secretary Kissinger when he returns, to hear what he heard, what he learned, what he saw." U.S. presidential envoy John Kerry concluded lengthy talks with Beijing on fighting climate change on Wednesday and current Secretary of State Antony Blinken went to Beijing last month.
Persons: Henry Kissinger, Wang Yi, Jason Lee, Kissinger, Richard Nixon, Gerald Ford, Xi Jinping, Li Shangfu, Lloyd Austin, General Li, John Kirby, they're, miscalculations, Kirby, John Kerry, Antony Blinken, Joe Biden, Trevor Hunnicutt, David Brunnstrom, Jonathan Oatis Organizations: U.S, Foreign, of, People, REUTERS, WASHINGTON, U.S . Defense, White, National Security, Economic Cooperation, Thomson Locations: Beijing, China, Washington, U.S, United, Ukraine, Taiwan, New Delhi, Asia, San Francisco
Jason Lee | ReutersBEIJING – China's consumer prices will likely decline in July before recovering, Liu Guoqiang, deputy governor of the People's Bank of China, told reporters Friday. Official measures of consumer prices have barely changed in the last several months amid tepid demand, in contrast to high inflation in the U.S. and Europe. watch nowThe central bank said in April consumer prices would likely see a "U-shaped" recovery this year. He described the real estate market as "stable" overall, but said that "some real estate companies' long-accumulated risks require a period of time to gradually absorb." He said that was out of "consideration of deep changes in the relationship between supply and demand in [China's] real estate market."
Persons: Jason Lee, Liu Guoqiang, Liu, Bruce Pang, Zou Lan, Zou Organizations: People's Bank of China, Reuters, People's Bank of Locations: Beijing, China, Reuters BEIJING, People's Bank of China, U.S, Europe, JLL
REUTERS/Jason Lee/File PhotoTAIPEI, July 14 (Reuters) - China's military has been flexing its muscles this week around Taiwan practicing joint force operations far out at sea, ahead of Taipei holding its annual war games at the end of the month when Taiwan will simulate breaking a Chinese blockade. Chieh Chung, a military researcher at Taiwan's National Policy Foundation think tank, said practicing long-distance missions was important for China as they would be the "main combat mode" in any conflict. "They are expanding military deterrence actions to create a cognitive effect that Taiwan's national defences are useless," the official said. China routinely denounces U.S. military activity in the strait as provocation. "The Eastern Theatre Command are well seasoned, but it's the Southern Theatre Command that needs training for long-distance support," Su said.
Persons: Jason Lee, Chieh Chung, Han Kuang, Tsai Ing, Kevin McCarthy, Xi Jinping, Su Tzu, yun, Su, Yimou Lee, Roger Tung, Yew Lun Tian, Ben Blanchard, Robert Birsel Organizations: Chinese Air Force, REUTERS, Foundation, Taiwan, House, Eastern Theatre Command, U.S . Navy, Institute for National Defence and Security Research, Southern Theatre Command, Thomson Locations: Beijing, TAIPEI, Taiwan, Taipei, China, Philippines, Japan, Borneo, Los Angeles
China's auto group retracts pledge to avoid 'abnormal pricing'
  + stars: | 2023-07-08 | by ( ) www.reuters.com   time to read: +1 min
[1/5] Cars drive on the road during the evening rush hour in Beijing, China, July 1, 2019. REUTERS/Jason Lee/File PhotoSHANGHAI, July 8 (Reuters) - The China Association of Auto Manufacturers (CAAM), citing antitrust law, on Saturday retracted a pledge to avoid "abnormal pricing" made two days earlier by 16 automakers, including Tesla. Thursday's CAAM-organised pledge by the companies, including Chinese electric vehicle (EV) makers Nio, Li Auto and Xpeng, had been interpreted by some as signalling a truce in a price war that has threatened industry-wide profitability. CAAM said it would urge the 16 companies and other association members to strictly comply with the antitrust law and compete fairly with independent pricing. Reporting by Zhang Yan and Brenda Goh; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.
Persons: Jason Lee, Thursday's, Li Auto, CAAM, Zhang Yan, Brenda Goh, William Mallard Organizations: REUTERS, China Association of Auto Manufacturers, Tesla, Elon, Ministry of Industry, Information Technology, Thomson Locations: Beijing, China, SHANGHAI
It would represent the first time Chinese automakers have controlled a majority share of China's car market - the world's largest. For the past four decades, China's auto market has been dominated by established global brands such as VW and Toyota operating in joint ventures with Chinese partners. AlixPartners forecast China's overall auto sales would grow 3% this year to 24.9 million vehicles, recovering to the level of sales before COVID-19. Dyer forecast annual sales of Chinese-branded cars in overseas markets would grow to 9 million vehicles by 2030. China's market also faces massive overcapacity, and Dyer forecast a wave of consolidation.
Persons: Jason Lee, AlixPartners, Tesla, Stephen Dyer, Dyer, haven't, Zhang Yan, Kevin Krolicki, Devika Organizations: REUTERS, VW, Toyota, HK, Xpeng Motors, Thomson Locations: Beijing, China, Japan, U.S, Asia, Europe, South America, South East Asia, South Asia, Shanghai, Singapore
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
The recovery in China has been much slower than what other major countries experienced when they lifted their pandemic restrictions. Still, the Chinese consumer has proved to be resilient in the face of these broader economic challenges. It marked the fastest pace of growth since the first quarter of 2022, fueled by higher spending from Chinese consumers. Club stock results Recent financial results from our China-exposed companies show that Chinese consumers have been holding up even as broader economic recovery is delayed. China is a growth market for each company and improvement in economic activity there should be a catalyst for these stocks.
Persons: Estee Lauder, , Ting Lu, WYNN, hasn't, Jim Cramer's, Jim Cramer, Jim, Jason Lee Organizations: Starbucks, Wynn Resorts, WYNN, China Index Academy, National Bureau of Statistics, Club, Gaming, Prestige, CNBC Locations: China, China's, Beijing, Macao, Asia, SBUX
Marriages in China slump to historic low
  + stars: | 2023-06-11 | by ( ) www.reuters.com   time to read: +2 min
[1/2] A new couple holding marriage certificates poses for a photo outside a registry office of marriage on Valentine's Day in Beijing, China, February 14, 2017. China's birth rate fell last year to 6.77 births per 1,000 people, the lowest on record, from 7.52 in 2021. Demographers warn China will get old before it gets rich, as its workforce shrinks and indebted local governments spend more on their elderly population. To encourage marriage and boost the country's flagging birth rate, China said last month it would launch pilot projects in more than 20 cities to create a "new-era" marriage and childbearing culture. Reporting by Martin Quin Pollard and Ellen Zhang; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.
Persons: Jason Lee, Martin Quin Pollard, Ellen Zhang, David Holmes Organizations: REUTERS, Ministry of Civil Affairs, Thomson Locations: Beijing, China, BEIJING, Demographers
[1/2] Google, Microsoft and Alphabet logos and AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. Microsoft is testing ads in the Bing AI chatbot, which began rolling out to users in February, by relocating some traditional search ads and inserting them into the AI responses, the company said. In a May interview, Google’s general manager of ads, Jerry Dischler, said the tech company would also use existing search ads to experiment with ad placements within the AI search snapshots, an early-test feature called Search Generative Experience that first became available last month. Microsoft and Google said existing guard rails on their search engines, including lists of blocked keywords to prevent ads from appearing on those queries, would also apply to their AI search features. Three ad buyers said they were concerned about Microsoft’s lack of transparency reporting, or reports that can show what search terms triggered a brand’s ads to appear in generative AI experiences, or how the ads performed versus traditional search ads.
Persons: Dado Ruvic, Google’s, Jerry Dischler, Jason Lee, Wells, Wells Fargo, Lynne Kjolso, Bing, , Samantha Aiken, Max, can’t, Kjolso, Sheila Dang, Kenneth Li, Matthew Lewis Organizations: Google, Microsoft, REUTERS, Reuters, MAGNA, Bing, Horizon Media, Thomson Locations: Anthropic, Corona, Wells Fargo, Dallas
[1/3] A man looks at job information at an employment fair beside a street in Zhengzhou, Henan province, February 19, 2014. REUTERS/Jason LeeHONG KONG, June 1 (Reuters) - China's Henan province has unveiled a 100-day plan to "dynamically clear" youth unemployment as concern grows over record levels of joblessness among young adults, with millions more students due to graduate this year. The goal is to ensure "zero-dynamic clearing" for long-term unemployment and the "smooth employment of college graduates", the provincial Department of Education said in a social media post this week. Economists expect youth unemployment to become increasingly common in coming years as graduates enter the job market. The "dynamic zero clearing" term the education department used is reminiscent of the language authorities used in the fight against COVID, reflecting the level of concern about unemployment.
Persons: Jason Lee HONG, Farah Master, Robert Birsel Organizations: REUTERS, Department of Education, COVID, Thomson Locations: Zhengzhou, Henan province, Jason Lee HONG KONG, Henan, China, Beijing
Archaeologists found a bunker used by WWII Japanese scientists to conduct human experiments, says a report. The Japanese scientists captured by the US were granted immunity in exchange for their research findings. Japanese scientists exposed prisoners to pathogens and dissected them to learn about the effects on the human body. The researchers are yet to enter the bunkers, but the survey has revealed details about the underground structures, South China Morning Post reported. Most of the surface-level buildings at the Anda site were destroyed in 1945 to erase evidence of the experiments, but the underground structures remain, archaeologists said.
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