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☆ China's Xi visits financial hub Shanghai
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +3 min

Chinese President Xi Jinping attends the Leaders Retreat at the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, California, U.S., November 17, 2023. REUTERS/Kevin Lamarque Acquire Licensing RightsSHANGHAI, Nov 29 (Reuters) - China President Xi Jinping visited Shanghai, where he went to several venues and learned about the city's efforts to strengthen its competitiveness as an international financial centre, Xinhua news agency reported on Wednesday. Xi made the trip on Tuesday and Wednesday and he inspected the Shanghai Futures Exchange, an exhibition on Shanghai's sci-tech innovations and a government-subsidized rental housing community, the report said. Vice Premier He Lifeng, Shanghai's Communist party secretary Chen Jining and Mayor Gong Zheng also accompanied his visit. It was his first visit to the city since November 2020 and comes a year after historic street protests against China's zero-COVID policy broke out in Shanghai.

Persons: Xi Jinping, Kevin Lamarque, Xi, Cai Qi, Chen Jining, Gong Zheng, Xi's, Premier Li Qiang, Brenda Goh, Bernard Orr, Ella Cao, Ethan Wang, Mark Potter, Louise Heavens, Chizu Nomiyama, Mark Porter Organizations: Economic Cooperation, REUTERS, Rights, Shanghai Futures Exchange, Communist Party of China Central Committee, CPC, Communist, Shanghai Free, Trade, Disney, L'Oreal, Premier, Thomson Locations: Asia, San Francisco , California, U.S, China, Shanghai, Xinhua, Minhang

GENEVA (AP) — The World Health Organization says it has made an official request to China for information about a potentially worrying spike in respiratory illnesses and clusters of pneumonia in children. The U.N. health agency cited unspecified media reports and a global infectious disease monitoring service as reporting clusters of undiagnosed pneumonia in children in northern China. Political Cartoons View All 1265 ImagesWHO said media reports about a week later reported clusters of undiagnosed pneumonia in children in northern China. WHO said that northern China has reported a jump in influenza-like illnesses since mid-October compared to the previous three years. It is rare for the U.N. health agency to publicly ask for more detailed information from countries, as such requests are typically made internally.

Persons: David Heymann, ” Heymann, Francois Balloux, ” Balloux, China's, ___ Cheng, Wanqing Chen Organizations: GENEVA, World Health Organization, WHO, National Health Commission, London School of Hygiene, Tropical Medicine, University College London, Beijing Children’s Hospital, China National Radio, Health Commission, Xinhua News Agency Locations: China, Beijing, London

SAN FRANCISCO (AP) — Sometimes it can be easy to forget that President Joe Biden's original foreign policy priority was reasserting American influence in Asia. "The United States remains vital to the future of the region, and the region is more vital than ever to the United States of America," he told a gathering of business executives during one of the summit's many receptions. “From here in San Francisco, America reaches out all across the Pacific, building bridges mightier than the Golden Gate,” he said. Protesters calling for a cease-fire in Gaza shut down all vehicular traffic heading into San Francisco over the Bay Bridge. “We will be glad to see a confident, open, ever-growing and prosperous United States,” he said.

Persons: Joe Biden's, Biden, “ That’s, He's, Donald Trump, ”, Yoon Suk Yeol, Kishida Fumio, Xi Jinping, Xi, “, ” Biden, Yun Sun, Aisha Nizar, San Francisco ”, ___, Colleen Long Organizations: FRANCISCO, Ukraine, Republican, Economic Cooperation, South Korean, Chinese Communist Party, U.S, Xinhua, China Program, Stimson, Palestinian Youth Movement, Biden wasn't, China, Associated Press Locations: American, Asia, Russian, Israel, San Francisco, United States, United States of America, Europe, America, China, Beijing, Bali , Indonesia, Iran, San Francisco ., Washington, Ukraine, Gaza, Bahrain, Fiji, Japan, Mexico, Peru

☆ Stocks ripped higher Tuesday on new inflation data. Here's why we were sellers
▼ + stars: | 2023-11-14 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Stocks rallied hard on Tuesday after new inflation data signaled a possible end to the Federal Reserve's rate-hiking campaign. The Dow Jones Industrial Average jumped nearly 500 points after the closely watched consumer price index (CPI) reading for October came in flat, softer than economists' estimate of 0.1% growth month over month. Wall Street took the news as a sign that inflation was coming down enough for the central bank to stop raising interest rates. Barring a surprise rebound in inflation, rates seem to have peaked and the "soft landing" for the economy is still in play. We like to buy stocks when the market is oversold, and sell stocks when there is too much buying.

Persons: Stocks, It's, Jim Cramer's, Jim Cramer, Jim Organizations: Dow Jones Industrial, Wall, CPI, Jim Cramer's Charitable, CNBC, Xinhua News Agency, Getty Locations: Foster City , California, United States

☆ Russia fumes at the West's charm offensive in its backyard, saying it's 'luring' its friends away
▼ + stars: | 2023-11-03 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +9 min

One top official in Moscow was fuming as he claimed the West was "luring" its "neighbours, friends, and allies" away from Russia. Moscow's disdainThe French leader's comments are likely to have enraged Moscow, which is already watching Western efforts to court Central Asia with suspicion and disdain. "Look at how Western powers are wooing Central Asia," Lavrov told the BelTA news agency, in comments published by Russia's Foreign Ministry. "They have created numerous formats such as 'Central Asia plus' involving the United States, the EU, and Japan ... On top of the Central Asia plus EU format, the Germans have created their own format. China's roleThere's certainly a tussle for influence that's taking place in Central Asia, with China also "courting" the region to a certain extent.

Persons: Vladimir Putin, Emmanuel Macron, Macron, Kassym, Sergei Lavrov, Lavrov, Ilham Aliyev, Serdar Berdimuhamedow, Emomali Rahmon, Alexander Lukashenko, Mark Galeotti, Galeotti, we've, Ed Jones, There's, Joe Biden, Jim Watson, Alexander Titov, Russia's, Xi Jinping, Gurbanguly Berdimuhamedov Organizations: Getty, Ukraine, Kazakh, CNBC, Russian, Central, Russia's Foreign Ministry, EU, Commonwealth of Independent States, Central Asia's, West, General, Afp, Georgia —, Queen's University of Belfast, U.S, Analysts, of, Forum, International Cooperation, Xinhua News Agency Locations: 13,2023, Bishkek, Kyrgyzstan, Russia, Moscow, Central Asia, Kazakhstan, Soviet, Astana, France, Uzbekistan, United States, Japan, Turkmenistan, Russian, London, Europe, China, Central, Ukraine, Central Asian, Tajikistan, New York City, Belarus, Donetsk, Kherson, Luhansk, Zaporizhzhia, North Korea, Nicaragua, Syria, South Caucasus, Armenia, Azerbaijan, Georgia, Latvia, Lithuania, Estonia, Moldova, Afghanistan, Beijing, People's, of Turkmenistan

☆ China lowers flags to half mast on former premier Li's cremation day
▼ + stars: | 2023-11-02 | by ( ) www.reuters.com time to read: +1 min

[1/2] China's Premier Li Keqiang waves as he arrives for a news conference after the closing ceremony of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, China, March 15, 2017. REUTERS/Damir Sagolj Acquire Licensing RightsBEIJING, Nov 2 (Reuters) - China ordered the lowering of the national flag at Tiananmen Square in the heart of the Chinese capital Beijing on Thursday, when the remains of former premier Li Keqiang are scheduled to be cremated, state media said. The national flag will be flown at half mast across the country, the official Xinhua News Agency said on Tuesday, including at Beijing's Great Hall of the People, the foreign ministry as well as seats of local governments across the country, and diplomatic missions. Li, a former economist and pro-reform leader who served as the premier for 10 years before retiring in March, died of a heart attack in Shanghai last Friday and his remains were transferred to the capital the same day. Reporting by Liz Lee and Shanghai newsroom; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Li, Damir Sagolj, Li Keqiang, Liz Lee, Christian Schmollinger Organizations: People's Congress, of, People, REUTERS, Rights, Xinhua News Agency, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai

People wearing face masks wait at an intersection in Beijing's Central Business District (CBD), as the city is shrouded in smog, in China November 1, 2023. The weather in many parts of China had stayed stubbornly warm entering November, with cities in eastern and central provinces such as Shandong, Anhui, Jiangsu and Henan still logging temperatures above 30C. In tandem with the warm weather, smog has also shrouded Beijing and its surrounding areas for days. In coming days, temperatures across northern China are expected to drop sharply. Other cities such as Beijing, Zhengzhou, Jinan, Xian and Shijiazhuang will see a sudden decline of 10C to 15C.

Persons: REUTER, Tingshu Wang, Ethan Wang, Ryan Woo, Simon Cameron, Moore Organizations: Business, Rights, Beijing Daily, Xinhua, National Meteorological Center, Shanghai, Thomson Locations: China, Rights BEIJING, Beijing, Shandong, Anhui, Jiangsu, Henan, Hebei province, Shenyang, Changchun, Harbin, Zhengzhou, Jinan, Xian, Shijiazhuang

[1/3] The Chinese flag at a gate to the Zhongnanhai leadership compound flies at half-mast in memory of late former Chinese premier Li Keqiang, in Beijing, China November 2, 2023. REUTERS/Mark Chisholm Acquire Licensing RightsBEIJING, Nov 2 (Reuters) - China lowered the national flag at Tiananmen Square in Beijing on Thursday amid an outpouring of grief online as the country cremated former premier Li Keqiang, known as "the people's premier" for his down-to-earth, hands-on leadership. "In memory of comrade Li Keqiang, flags were flown at half-mast at Tiananmen Square in the capital," state media said. "Personally, I still feel a bit unreal (about his death) because I feel like he's a good premier and suddenly he's gone. Some businesses such as international coffee chain Starbucks (SBUX.O) turned their app interface black and white in mourning for Li.

Persons: Li Keqiang, Mark Chisholm, Li, Xi Jinping, Han Zheng, Hu Jintao, Gao, Xi, he's, Wan, Zhang Shijun, Liz Lee, Xiaoyu Yin, Ryan Woo, Christian Schmollinger Organizations: REUTERS, Rights, Communist Party's, Xinhua, Weibo, China's, Communist Party, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai, Weibo

☆ Li Keqiang: Death of China’s former premier offers glimpse into discontent with Xi Jinping
▼ + stars: | 2023-11-01 | by ( Cnn Staff | ) edition.cnn.com time to read: +11 min

CNN —The sudden death of China’s former Premier Li Keqiang has spurred an outpouring of grief and mourning across the country. But for many, it also appears to offer a rare opening to air pent-up discontent with top leader Xi Jinping and the direction he has taken the country. His death, just months after his retirement, shocked the Chinese public. German Chancellor Angela Merkel and Chinese Premier Li Keqiang review a guard of honor prior to a meeting at the Chancellery on July 9, 2018 in Berlin, Germany. Chinese Premier Li Keqiang visits a hospital in Wuhan on January 27, 2020, days after the city was placed under a complete lockdown to curb the raging Covid-19 outbreak.

Persons: Li Keqiang, Xi Jinping, Li, Xi –, ”, Alfred Wu, Lee, “, Xi, Angela Merkel, Sean Gallup, Zhang Lun, Mao Zedong, Zhang, “ I’ve, Wu, Li Tao, Zhou Enlai, Mao, Hu Yaobang, Fish Leong, ” Zhang Organizations: CNN, Communist, Lee Kuan Yew, of Public Policy, Getty, Studies, University of Cergy, Peking University, Li, AP Party, Communist Party, Xinhua, CPC, Party Locations: Shanghai, China, Singapore, German, Berlin, Germany, Pontoise, France, Communist China, Wuhan, AFP, Yunnan province, Weibo, Malaysian, Hefei, Anhui, Zhengzhou, Henan, Beijing

☆ China rate scare reminds watchdogs of hidden risks
▼ + stars: | 2023-11-01 | by ( Chan Ka Sing | ) www.reuters.com time to read: +3 min

Overnight borrowing rates for some Chinese financial institutions spiked to 50% on Tuesday, according to official interbank data, far in excess of the average rate of roughly 3.6%. In 2012, a national audit confirmed that local governments had amassed up to 10 trillion yuan in debts. Those have since swelled to 92 trillion yuan, per Reuters. The latest liquidity squeeze is a reminder that short-term dangers will complicate any attempts at more drastic surgery on China’s financial system. CONTEXT NEWSOvernight borrowing costs for some Chinese financial institutions jumped to as high as 50% on Oct. 31.

Persons: Xi Jinping’s, Xi Jinping, Li Qiang, Peter Thal Larsen, Thomas Shum Organizations: Reuters, Traders, People’s Bank of, Financial Work, Central Financial Work Conference, Xinhua News Agency, Thomson Locations: HONG KONG, People’s Bank of China, Beijing

BEIJING (AP) — The remains of former Chinese Premier Li Keqiang are to be cremated on Thursday, with flags around the country to be flown at half-staff to mourn the official who helped guide the world’s second-largest economy for a decade. Mourners gathered at his childhood home in the city of Hefei in an apparently spontaneous outpouring of grief seen by some as a rebuke of state leader and head of the ruling Communist Party Xi Jinping. Li was once seen as a potential top leader, but the trained economist was shunted aside in a leadership shakeup last year and replaced with Xi loyalist Li Qiang. Political Cartoons View All 1227 ImagesAlthough he was the Communist Party's second-ranking official, Li received far less attention from state media outlets than Xi. Flags will be lowered at government offices, including in the semi-autonomous cities of Hong Kong and Macao and at Chinese consulates and embassies around the world, Xinhua said.

Persons: Li Keqiang, Li, Xi, shakeup, Li Qiang Organizations: BEIJING, Communist, Central Financial Commission, China Securities Regulatory Commission, Communist Party, Party, Xinhua News Agency, Xinhua Locations: Hefei, China, Hong Kong, Macao, Asia, asia

☆ China to cremate 'outstanding' leader Li Keqiang on Thursday
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

Newspapers with the obituary of late former Chinese Premier Li Keqiang on the front page are displayed, at a newsstand in Beijing, China October 28, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsBEIJING, Oct 31 (Reuters) - China will cremate the remains of former Premier Li Keqiang on Thursday, when flags will fly at half mast across the country in mourning for an "outstanding" leader, the official Xinhua news agency reported. Li, a former economist and pro-reform leader who served as the premier for 10 years before retiring in March, died of a heart attack on Friday. Li's death was a huge loss to the Communist Party and the nation, according to an official obituary posted by Xinhua last week. But Li, once viewed as a Communist Party leadership contender, was sidelined in recent years, analysts and diplomats said, as President Xi Jinping tightened his grip on economic policymaking.

Persons: Li Keqiang, Tingshu Wang, Li, Xi Jinping, Ryan Woo, Ethan Wang, Robert Birsel Organizations: REUTERS, Rights, Xinhua, CPC, Party, Chinese Communist Party, of, Communist Party, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai

TAIPEI, Taiwan (AP) — Three Chinese astronauts returned to Earth on Tuesday morning after six months aboard China’s orbiting space station. The station is essentially complete, so the new crew will conduct medical and scientific experiments and maintain equipment. China made its first crewed space mission in 2003 and plans to put astronauts on the moon before 2030. It has brought samples back from the lunar surface and landed a rover on the less explored far side of the moon. Political Cartoons View All 1227 ImagesChina built its own space station after it was excluded from the International Space Station, largely due to U.S. concerns over Chinese military control over the national space program.

Persons: Jing Haipeng, Zhu Yangzhu, Gui Haichao Organizations: Xinhua News Agency, International, Station, U.S, SpaceX Locations: TAIPEI, Taiwan, China, Beijing, South, U.S

☆ Li Keqiang, Former China Premier Sidelined by Xi Jinping, Dies at 68
▼ + stars: | 2023-10-26 | by ( James T. Areddy | Chun Han Wong | ) www.wsj.com time to read: 1 min

China’s former premier, Li Keqiang , whose efforts to retool his country’s economy faltered under the dominance of top leader Xi Jinping , died Friday after suffering heart failure, state media said. Li, who served a decade as premier until March, was in Shanghai when he experienced a sudden heart attack on Thursday, the official Xinhua News Agency said in a brief report.

Persons: Li Keqiang, Xi Jinping, Li Organizations: Xinhua News Agency Locations: Shanghai

☆ China passes patriotic education law for children, families -state media
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Students stand at a school during a flag-lowering ceremony on the first day of the new academic year in Shanghai, China, September 1, 2021. REUTERS/Aly Song/File Photo Acquire Licensing RightsHONG KONG, Oct 25 (Reuters) - China's national legislature on Tuesday passed a law to strengthen patriotic education for children and families, state media reported, to counter challenges such as "historical nihilism" and safeguard "national unity". The Patriotic Education Law provides a legal guarantee for carrying out patriotic education, state-backed Xinhua news agency reported, adding that some people "are at a loss about what is patriotism." The law mandates that patriotic education respects the "history and cultural traditions of other countries and draws inspiration from all of human civilization's outstanding achievements," it said. The law also has targeted measures for different groups of people, including government officials, employees, villagers and residents in special administrative regions Hong Kong and Macau, as well as Taiwan, state-backed China Daily said.

Persons: Aly, Farah Master, Christian Schmollinger Organizations: REUTERS, Patriotic Education, Xinhua, China Daily, Thomson Locations: Shanghai, China, HONG KONG, Xinhua, Hong Kong, Macau, Taiwan

TAIPEI, Taiwan (AP) — China announced plans on Wednesday to send a new telescope to probe deep into the universe as it prepared to launch the country’s next, three-member crew for its orbiting space station. The telescope, dubbed Xuntian, will be installed by China's Tiangong space station and will co-orbit with it, according to a statement from Lin Xiqiang, spokesperson and deputy director general of the Chinese Manned Space Agency. Tang is a veteran who led a 2021 space mission for three months. China built its own space station after it was excluded from the International Space Station, largely due to U.S. concerns over the control of the program by the People’s Liberation Army, the military branch of the ruling Communist Party. China’s first manned space mission in 2003 made it the third country after the former Soviet Union and the U.S. to put a person into space using its own resources.

Persons: Lin Xiqiang, — Tang Hongbo, Tang Shengjie, Jiang Xinlin —, Tang Organizations: —, Manned Space Agency, CCTV, International, Station, People’s Liberation Army, Communist Party, Soviet Union, SpaceX, Xinhua News Agency Locations: TAIPEI, Taiwan, — China, China, United States, Europe, Southeast Asia, South America, U.S

BANGKOK (AP) — World shares were mixed Wednesday after China pledged more spending to energize its economy. U.S. futures were mixed and oil prices turned higher. In early European trading, Germany's DAX fell 0.4% to 14,825.07 and the CAC 40 in Paris lost 0.5% to 6,864.02. A solid job market and spending by U.S. households has helped keep the economy chugging along. In the oil market, prices have dipped, taking some more pressure off inflation.

Persons: Zhu Zhongming, ” Stephen Innes, Hong, Germany's DAX, Kospi, India's Sensex, they've, they’re, Brent, it's Organizations: China, Xinhua, Agency, Management, CAC, Dow Jones, Dow, Nasdaq, Japan's Nikkei, Sydney, Stock, Treasury, Fed, U.S Locations: BANGKOK, Paris, Frankfurt, Sydney, Seoul, London, Tokyo, Hong Kong . U.S, China, Shanghai, Bangkok, U.S, Israel, Iran

☆ China Increases Bond Issuance to Help Its Economy
▼ + stars: | 2023-10-24 | by ( Stella Yifan Xie | Lingling Wei | ) www.wsj.com time to read: 1 min

A record number of Chinese college students graduated this summer, but landing their dream job may be a long shot. WSJ takes a look at why China’s youth unemployment is at all-time highs. Photo illustration: Adam AdadaChina ramped up efforts to stimulate its beleaguered economy, issuing additional sovereign bonds and raising its budget-deficit target, the first time it revised its budget outside the regular legislative session in more than a decade. The country’s top legislative body approved on Tuesday a plan to raise 1 trillion yuan, equivalent to around $137 billion, in additional sovereign debt, half for use before the end of this year and half for next year, according to the official Xinhua News Agency. Policy makers said the bond issuance was intended for infrastructure projects in the wake of severe flooding and other natural disasters, Xinhua reported.

Persons: Adam Adada Organizations: Xinhua News Agency . Locations: Adam Adada China

Beijing CNN —China’s Defense Minister Li Shangfu was fired on Tuesday two months after he disappeared from public view, becoming the second high-profile minister to lose his job recently without any official explanation. Li, who was appointed defense minister in March, has not been seen in public since late August, fueling intense speculation about his fate. Li’s ousting, ironically, has removed a major roadblock for the resumption of high-level military talks between China and the United States. The Financial Times also reported that the US government believes the defense minister has been placed under investigation, citing American officials. Li is believed to be a protege of General Zhang Youxia, Xi’s childhood friend and closest ally in the military.

Persons: Li Shangfu, Li, Xi Jinping, –, outranks, Qin Gang, Qin, Xi, Li’s, won’t, “, General Zhang Youxia, Zhang Organizations: Beijing CNN — China’s, Central Military, National People’s Congress, Foreign, Qin, Communist, of, People, Xinhua News Agency, Getty, PLA Rocket Force, Street Journal, The Financial Times, Defense Ministry, Central Military Commission, Development Department, Rocket Force, Equipment Development Department, Security Forum Locations: Beijing, China, United States, Sichuan, Africa, Russia, Belarus

☆ Esports made their 'tense and exciting' debut at this year's Asian Games
▼ + stars: | 2023-10-15 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

Esports, or professional video gaming, were an official sport at the Asian Games for the first time. AdvertisementAdvertisementEsports, or competitive video gaming, debuted as an official event at this year's Asian Games in Hangzhou, China that concluded earlier this month. Due to the event's popularity, esports tickets were sold on a lottery basis, with more than five million entering the ballot, according to Hangzhou Asian Games data. We're excited to see the landscape of esports events around the world expand," said John Robinson, president of US esport organization 100 Thieves. The Olympic Esports Series is "a global virtual and simulated sports competition created by the IOC, and in collaboration with International Federations and game publishers."

Persons: —, esports, Chris Liu, Liu, Esports, JADE GAO, John Robinson, Kim Gwanwoo, WANG ZHAO, Matt Woods, AFK, Grant Rousseau, " Rousseau Organizations: Asian Games, of, EA Sports FC Online, Singapore, Service, Professional, EA Sports FC, South Korea, Team Malaysia, China, Xinhua News Agency, South, Associated Press, Fighter, Getty, Olympic, IOC, International Federations, Guardian, Team Falcons Locations: Hangzhou, China, Thailand, Wuxi, esports, Asia, Pacific, US, South Korea, AFP, Los Angeles

☆ Two killed by avalanches on Tibet’s Shishapangma as 50 were climbing
▼ + stars: | 2023-10-08 | by ( ) www.reuters.com time to read: +3 min

Shishapangma, at just over 8,000 metres (26,247 feet), is the world's 14th tallest peak. Two avalanches hit its slopes at elevations of 7,600 metres and 8,000 metres on Saturday, killing American climber Anna Gutu and Nepalese guide Mingmar Sherpa, Xinhua reported on Sunday. All climbing activity on Shishapangma was suspended because of the unstable snow conditions. Had one of the Pakistani climbers, Sirbaz Khan, reached the top of Shishapangma he would have become the first Pakistani to summit all 14 mountains over 8,000 metres. Among those who had previously died on Shishapangma was famed American climber Alex Lowe in 1999, also because of an avalanche.

Persons: Anna Gutu, Gina Marie Rzucidlo, Tenjen Sherpa, Norway's Kristin Harila, Sirbaz Khan, Shishapangma, Alex Lowe, David Bridges, Ryan Woo, Christian Schmollinger Organizations: Xinhua, Sherpa, Thomson Locations: BEIJING, American, Pakistan, United States, Britain, Romania, Albania, Italy, Japan, Xinhua, Nepal

☆ China's cross-border trips during Golden Week holiday recover to 85% of pre-pandemic level
▼ + stars: | 2023-10-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Florence Lo/File Photo Acquire Licensing RightsSHANGHAI, Oct 7 (Reuters) - China's inbound and outbound trips surged during the eight-day Golden Week holiday this year, official data showed on Saturday, recovering to 85% of their pre-pandemic level but lower than an earlier government estimate. That was equivalent to 85.1% of the number of average trips made in the same period in 2019, and nearly quadruple the 2022 average, the administration said. It had earlier said it expected an average of 1.58 million daily inbound and outbound passenger trips during the holiday. This compared with 830.8 yuan per trip in 2019 when the holiday was seven days long, and 680.6 yuan last year. Travellers made 826 million trips within mainland China, up 71.3% from a year ago and 4.1% higher than in 2019, according to data released by the official Xinhua news agency.

Persons: Florence, Robert Birsel Organizations: REUTERS, Rights, National, National Immigration Administration, Travellers, Xinhua, Shanghai, Thomson Locations: Beijing, China, Thailand

☆ China moves to strengthen innovation in smart driving
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Oct 2 (Reuters) - China will back firms in the smart vehicle supply chain to form groups dedicated to spreading innovation, state media said on Monday, as it races to hammer out standards for assisted and autonomous driving functions by 2025. China will support firms in forming "innovation consortia", that enable them to learn from each other's strengths in order to achieve technological breakthroughs, the official Xinhua news agency said. Citing Xin Guobin, vice minister of industry and information technology, the agency added that China aims to speed its formulation and revision of key standards. Vehicles in this category can handle driving functions, but the driver must always be prepared to take over when road conditions change. China aims to master the core technologies of advanced autonomous driving and eventually put driverless vehicles on its roads in the effort to become the leading industry player worldwide.

Persons: Xin Guobin, Ryan Woo, Clarence Fernandez Organizations: Xinhua, Vehicles, HK, Baidu, Thomson Locations: BEIJING, China, Shenzhen, Wuhan, Chongqing, Beijing, United States

☆ China's lottery ticket sales soar amid weak economy, job prospects
▼ + stars: | 2023-09-30 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

BEIJING (Reuters) - China’s lottery ticket sales in August soared to their highest for any month so far this year, amid public concern about the economy following months of mostly gloomy data including youth unemployment. The surging lottery ticket sales coincided with months of mostly soft economic data, with the unemployment rate of job seekers aged between 16 and 24 drawing particular attention from policymakers. China’s youth unemployment rate hit a record high of 21.3% in June, according to official data. Some social media commentators have linked the sharp rise in lottery sales in recent months to young people’s deepening economic worries. Earlier this year, China’s social media was alit with videos of jobless university graduates visiting temples to seek the blessings of the gods.

Persons: Ann Wang, “ Young, ” Organizations: REUTERS, Xinhua Locations: BEIJING, Hualien, Taiwan, Weibo

☆ China and EU hold talks on AI, cross-border data flow amid renewed tensions
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

An attendant walks past EU and China flags ahead of the EU-China High-level Economic Dialogue at Diaoyutai State Guesthouse in Beijing, China June 25, 2018. REUTERS/Jason Lee/File Photo Acquire Licensing RightsBEIJING, Sept 18 (Reuters) - China and the European Union held talks on topics including artificial intelligence and cross-border data flows on Monday in Beijing, amid disputes over an EU probe into China's electric vehicle (EV) subsidies. The meeting comes as tensions between China and the EU are heightened after European Commission President Ursula von der Leyen announced an investigation into whether to impose punitive tariffs on Chinese EVs to protect EU producers. The talks on Monday covered key issues including platforms and data regulation, AI, and cross-border flow of industrial data, China and the EU said. The European Commission conveyed concerns about "difficulties faced by EU companies in China to make use of their industrial data, as a result of the application of recent legislation."

Persons: Jason Lee, Zhang Guoqing, Vera Jourova, Ursula von der Leyen, Zhang, Ethan Wang, Ryan Woo, Meg Shen, Andrew Heavens Organizations: REUTERS, Rights, European Union, EU, China's, European Commission, Values, European, Xinhua, Thomson Locations: China, EU, Beijing, Rights BEIJING, Europe, Hong Kong

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