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

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

☆ Style at the Vanity Fair Oscars afterparty
▼ + stars: | 2023-03-13 | by ( Jeremy Schultz | ) www.reuters.com time to read: 1 min

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

☆ Factbox: Key takeaways from China's annual NPC parliamentary meeting
▼ + stars: | 2023-03-13 | by ( Laurie Chen | ) www.reuters.com time to read: +5 min

These include Premier Li Qiang, NPC Chairperson Zhao Leji, Executive Vice-Premier Ding Xuexiang, and Vice President Han Zheng. China's private sector has been rattled in recent years by a sweeping regulatory clampdown targeting some of its most vibrant industries, including the internet and private education. The new national financial regulatory administration will replace the existing banking and insurance watchdog and oversee all aspects of China's $57 trillion financial sector apart from the securities market. A separate top-level party financial watchdog, the Central Financial Work Commission, is likely to be resurrected after the NPC, sources earlier told Reuters. This will likely have responsibility for the new state financial regulator.

Li, installed as premier on Saturday during the annual session of China's parliament, is tasked with reviving the world's second-largest economy after three years of COVID curbs. But he faces challenges including weak confidence among consumers and private industry, sluggish demand for exports and worsening relations with the United States. China's private sector has been rattled in recent years by a sweeping regulatory clampdown targeting some of its most vibrant industries, including the internet and private education. At the opening of the annual parliamentary session, China set a GDP growth target of 5% percent, its lowest goal in nearly three decades, after the economy grew just 3% last year. China's relations with the United States sank to a low after U.S. House Speaker Nancy Pelosi visited Taiwan in August 2022.

☆ China's parliament approves changes to speed up 'emergency' laws
▼ + stars: | 2023-03-13 | by ( Laurie Chen | ) www.reuters.com time to read: +2 min

The amendment to the Legislation Law, which governs how laws are enacted, gives the highest body of the national parliament, the roughly 170-member National People's Congress Standing Committee, special powers to pass laws after just one review session. Three years ago, China imposed a national security law on the semiautonomous city of Hong Kong, criminalising a broad range of vaguely defined offences intended to stifle dissent. China has repeatedly brushed off criticism of the law, saying it protects Hong Kong residents' freedoms and only targets a small minority of "criminals" who "endanger national security". The latest draft of the law, published March 5, did not define what constitutes an emergency situation. Reporting by Ryan Woo and Laurie Chen; Editing by Tom Hogue and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Oscars carpet: Candid moments
▼ + stars: | 2023-03-12 | by ( Jillian Kumagai | ) www.reuters.com time to read: 1 min

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

☆ Oscars red carpet style
▼ + stars: | 2023-03-12 | by ( Dave Lucas | ) www.reuters.com time to read: 1 min

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

☆ SVB collapse could add to China stock investors' anxiety
▼ + stars: | 2023-03-12 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

SHANGHAI, March 12 (Reuters) - China stock investors, already disillusioned by Beijing's lower-than-expected economic growth target for the year, will be further disheartened by the shock collapse of U.S. lender SVB Financial Group, market participants said. The market mood could be damped further following Friday's sudden collapse of start-up focused lender SVB (SIVB.O), which stirred heated discussion over the weekend in China about its fallout. But many Chinese tech start-ups, especially those with dollar funding, have opened U.S. accounts at SVB. He is cautious about tech stocks that could be impacted by US-China frictions. Still, domestic A-shares will likely outperform offshore China stocks, which are more vulnerable to potential spillover from the SVB collapse, analysts say.

China's four new vice premiers:Ding Xuexiang, 60, is the first-ranked vice premier who also sits in the ruling Communist Party's Politburo Standing Committee, China's top echelon of power. Wang Zhigang, 65, remains minister of science and technology. Huai Jinpeng, 60, remains minister of educationPan Yue, 62, remains head of the National Ethnic Affairs CommissionWang Xiaohong, 65, remains minister of public securityChen Yixin, 63, remains minister of state security. Considered a Xi ally, he had worked with Xi when the latter was party chief of Zhejiang province from 2002-2007. Tang Dengjie, 63, remains minister of civil affairsHe Rong, 60, remains minister of justiceWang Xiaoping, 59, remains minister of human resources and social securityWang Guanghua, 59, remains minister of natural resourcesHuang Runqiu, 59, remains minister of ecology and environmentNi Hong, 60, remains minister of housing and urban-rural developmentLi Xiaopeng, 63, remains minister of transportLi Guoying, 63, remains minister of water resourcesTang Renjian, 60, remains minister of agriculture and rural affairsHu Heping, 60, remains minister of culture and tourismMa Xiaowei, 63, remains head of the National Health CommissionPei Jinjia, 59, remains minister of veterans affairsWang Xiangxi, 60, remains minister of emergency managementHou Kai, 60, remains auditor-general of the National Audit OfficeReporting by Yew Lun Tian, Ziyi Tang, additional reporting by Albee Zhang; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

[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.

☆ Behind the scenes before the Oscars
▼ + stars: | 2023-03-10 | by ( Jillian Kumagai | ) www.reuters.com time to read: 1 min

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

☆ China's Xi secures precedent-breaking third term as president
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +3 min

[1/4] Chinese President Xi Jinping looks on after casting his vote during the Third Plenary Session of the National People's Congress (NPC) at the Great Hall of the People, in Beijing, China, 10 March 2023. MARK R. CRISTINO/Pool via REUTERSBEIJING, March 10 (Reuters) - Xi Jinping on Friday secured a precedent-breaking third five-year term as China's president as he tightens his grip as the country's most powerful leader since Mao Zedong. The stage was set for another Xi term when he did away with presidential term limits in 2018. Xi chatted casually with Li, who was seated to his left, as delegates deposited voting slips into electronic ballot boxes. The parliament also elected Zhao Leji, 66, as the new parliament chair and Han Zheng, 68, as the new vice president.

☆ Factbox: What is China's new government restructuring plan?
▼ + stars: | 2023-03-08 | by ( Laurie Chen | ) www.reuters.com time to read: +5 min

The restructured ministry will be overseen by a newly created Communist Party body, the Central Science and Technology Commission, strengthening party oversight of science and technology policy. A new national data bureau will be responsible for coordinating the sharing and development of data resources, as well as planning the digital economy and promoting initiatives. Since taking power in 2012, Xi has established several new central party committees overseeing multiple ministries, which report directly to him. Analysts expect the party reforms to be revealed soon after the NPC concludes its meetings on Monday. A top-level party financial watchdog, the Central Financial Work Commission, is likely to be resurrected after the NPC, sources earlier told Reuters.

☆ China to set up new financial regulator in sweeping reform
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +6 min

The new financial regulator will replace the China Banking and Insurance Regulatory Commission (CBIRC) and bring supervision of the industry, excluding the securities sector, into a body directly under the State Council, or cabinet. The proposal for setting up the new regulator, the National Financial Regulatory Administration, was presented to China's parliament during its annual meeting on Tuesday. China's financial sector is overseen by the People's Bank of China (PBOC), the CBIRC, and the China Securities Regulatory Commission (CSRC), with the cabinet's Financial Stability and Development Committee having overall responsibility. The setting up of the new financial regulatory body comes as Beijing seeks to rein in large corporate and financial institutions that may bring systemic risks via regulatory arbitrage among multiple authorities. 'STRENGTHEN SUPERVISION'The new administration will "strengthen institutional supervision, supervision of behaviours and supervision of functions", according to the plan.

☆ Ukraine buries volunteer fighters killed on Russian soil
▼ + stars: | 2023-03-07 | by ( Dave Lucas | ) www.reuters.com time to read: 1 min

Annual sessions begin in Beijing of China's national legislature, the National People's Congress (NPC), and the Chinese People's Political Consultative Conference (CPPCC), a political advisory body. The NPC is poised to implement the biggest government shake-up in a decade, making way for Xi loyalists.

☆ China warns US against suppressing it or risk 'conflict'
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +3 min

[1/2] Journalists attend a news conference by Chinese Foreign Minister Qin Gang on the sidelines of the National People's Congress (NPC) in Beijing, China March 7, 2023. REUTERS/Thomas PeterBEIJING, March 7 (Reuters) - The U.S. should change its recent mistaken policies towards China or "conflict and confrontation" will follow, China's foreign minister said on Tuesday, while reiterating Beijing's call for dialogue to end the conflict in Ukraine. "The United States' perception and views of China are seriously distorted," Qin said. China has fiercely defended its stance on Ukraine, amidst Western criticism of its decision not to call Russia the aggressor in the conflict. But China must advance its relations with Russia as the world becomes more turbulent, Qin said.

☆ China to restructure sci-tech ministry to achieve self-reliance faster
▼ + stars: | 2023-03-07 | by ( Eduardo Baptista | ) www.reuters.com time to read: +3 min

BEIJING, March 7 (Reuters) - China will restructure its science and technology ministry to channel more resources to achieving important breakthroughs, with the goal of moving faster towards self-reliance, according to a State Council plan submitted to parliament on Tuesday. The restructuring of the central government ministry was included in a reform plan of state institutions that the State Council, China's cabinet, submitted to the National People's Congress (NPC), which is meeting this week. The institutional changes revealed on Tuesday will reduce the scope of the science and technology ministry as previous responsibilities, such as building high-tech industrial development zones and driving technological progress in rural areas, will be re-distributed across several ministries. "Strengthen the Ministry of Science and Technology's strategic planning ... optimise the whole-process management of scientific and technological innovation," the cabinet said in the plan. Reporting by Eduardo Baptista; Editing by Andrew Heavens, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: What to look for at China's NPC meeting of parliament
▼ + stars: | 2023-03-07 | by ( Laurie Chen | ) www.reuters.com time to read: +5 min

Besides meeting annually to deliberate legislation and appoint government personnel, it oversees the State Council, China's cabinet. Its top body, the roughly 170-member NPC Standing Committee, meets more frequently to pass legislation. The Standing Committee also has the power to amend semiautonomous Hong Kong's mini-constitution, known as the Basic Law. The NPC will also appoint top government positions including vice president, NPC chair, vice premiers, state councillors, head of the Supreme Court and ministers. Several NPC and CPPCC delegates have put forth policy proposals in recent days, with China's historically low fertility rate a hot topic.

☆ NPC 2023: Xi Jinping hits out at US as he urges China's private firms to 'fight' alongside Communist Party
▼ + stars: | 2023-03-07 | by ( Laura He | ) edition.cnn.com time to read: +5 min

“The private sector is an important force for our party to govern in the long term,” Xi said. Business confidence has plummeted following an unprecedented regulatory crackdown on the private sector and increasing uncertainties about China’s future path. Major contributorThe private sector, despite being dwarfed in size by the state sector, contributes more than 60% to China’s GDP and over 80% of employment, according to official statistics. It’s also necessary to protect the property rights of private companies and entrepreneurs and treat state firms and private companies equally, so as to “boost market expectations and confidence,” he said. “[We should] let private companies play an important role in stabilizing employment and increasing [government] income,” he said.

☆ Factbox: Schedule of China's annual parliamentary meeting
▼ + stars: | 2023-03-05 | by ( ) www.reuters.com time to read: +1 min

[1/2] Chinese officials and delegates attend the opening session of the National People's Congress (NPC) at the Great Hall of the People in Beijing, China March 5, 2023. REUTERS/Thomas PeterBEIJING, March 5 (Reuters) - China's nearly 3,000-member National People's Congress (NPC), the country's legislature, kicked off its annual gathering in Beijing on Sunday, with delegates set to review government reports and choose its leaders for the next five years. This year also marks the start of China's country's 14th legislature, whose delegates serve five-year terms. When the full parliament is not in session, laws can be passed by the NPC Standing Committee. Following is a schedule in local time (eight hours ahead of GMT) for the session, which ends on March 13.

REUTERS/Thomas PeterSHANGHAI, March 5 (Reuters) - China's science and technology policies should aim to build the country's strength and self-reliance, while companies take the lead in pushing innovation, Premier Li Keqiang said on Sunday. The country effectively countered external attempts to suppress and contain China’s development over the past five years by promoting development of the real economy through innovation and fostering new drivers of growth, he said. President Xi Jinping has urged the country to strengthen its self-reliance in science and technology and continue to strive as a global tech power. The platform economy comprises China's largest tech companies, such as Alibaba Group (9988.HK) and Tencent Holdings (0700.HK). Such firms were the targets of a long, bruising regulatory crackdown that Beijing says it is now easing.

☆ China parliament to review state entity reform plan, Legislative Law
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +2 min

BEIJING, March 4 (Reuters) - China's National People's Congress (NPC) will deliberate on a plan to reform institutions under the State Council, or cabinet, and review draft amendments to the Legislation Law, an NPC spokesman said on Saturday. He renewed calls this week for "intensive" reorganisation of state and Communist Party entities, adding that part of the reform plan pertaining to state institutions would be presented before parliament. At this year's parliamentary meeting, amendments to China's Legislative Law, which governs how laws are enacted, will also be further reviewed. One proposed amendment involves allowing the NPC Standing Committee to pass laws in the event of an "emergency" after a single review. The committee, which enacts and amends laws when parliament is not in session, voted in June 2020 to adopt landmark laws on national security in Hong Kong.

Hong Kong CNN —China has set an official economic growth target of “around 5%” for 2023, as it seeks to revive the world’s second largest economy after a year of tepid growth because of pandemic measures. The new figure was released Sunday alongside the opening of the annual gathering of the National People’s Congress (NPC), the country’s rubber-stamp legislature, in a government work report. Chinese Premier Li Keqiang speaks during the opening session of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, Sunday, March 5. Ng Han Guan/APMoody’s Investors Service has since raised its China growth forecast to 5% for both 2023 and 2024, up from 4% previously, citing a stronger than expected rebound in the short term. Global growth will likely slow from 3.4% in 2022 to 2.9% in 2023.

☆ China's economy, government revamp in focus as parliament set to open
▼ + stars: | 2023-03-04 | by ( Tony Munroe | ) www.reuters.com time to read: +3 min

REUTERS/Thomas PeterBEIJING, March 5 (Reuters) - China opens its annual parliamentary session on Sunday, with the National People's Congress (NPC) set to implement the biggest government shakeup in a decade as Beijing confronts a host of challenges and looks to revive its COVID-battered economy. During the NPC, former Shanghai party chief Li Qiang, a longtime Xi ally, is expected to be confirmed as premier. "We might see institutional changes that indicate an elevated importance of, and more party control over, the financial regulatory system," Goldman Sachs analysts wrote. On the opening day of the NPC, China is also likely to announce its central and military spending budgets. Reporting by Tony Munroe; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ Take Five: A manic March
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +5 min

Another dose of hot job growth after January's payrolls increase of 517,000 trounced estimates could stoke fears of more hawkish Fed action. Powell has said the January jobs report showed why the battle against inflation will "take quite a bit of time". Powell's comments and the jobs data could help settle what the Fed does later this month. The RBA hinted at further tightening at its meeting last month, but data since then has pointed the other way. After a red-hot January rally, bonds and equities retreated in February as strong data sparked concerns about more rate hikes.

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