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☆ US lawmakers struggle to find deal on self-driving cars
▼ + stars: | 2023-07-26 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, July 26 (Reuters) - Congress still faces serious hurdles to winning approval for long-stalled legislation to speed the adoption of self-driving cars. Republicans and some Democrats want fast action, raising concerns that China could surpass the United States in deploying cars without human drivers. Autonomous vehicle legislation in Congress has been stalled for more than six years. Proposals would allow automakers to obtain exemptions to deploy tens of thousands of vehicles without meeting existing auto safety standards. The National Highway Traffic Safety Administration said on July 12 it will soon decide on a petition filed by General Motors' (GM.N) Cruise self-driving technology unit seeking permission to deploy up to 2,500 self-driving vehicles annually without human controls, the maximum permitted under current law.

Persons: Cathy McMorris Rodgers, Frank Pallone, John Samuelsen, John Bozzella, David Shepardson, Bernadette Baum Organizations: Energy, Commerce, Communist Party, Workforce, Traffic Safety Administration, General Motors, Transport Workers Union, Alliance, Automotive Innovation, Thomson Locations: China, United States

☆ Pan Gongsheng: China's new central bank governor faces daunting tasks
▼ + stars: | 2023-07-26 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China has a new central bank governor. He replaced Yi Gang, who took office in March 2018, when China’s longest-serving central banker Zhou Xiaochuan stepped down after a 15-year tenure. He was previously a deputy governor of the PBOC and has served as head of China’s foreign exchange regulator since 2016, managing currency reserves worth $3.18 trillion. In China’s political system, the Communist Party boss is usually the top official in the relevant organization, be it a level of government or a public institution. In March, Beijing created a powerful financial watchdog run by the Communist Party, named the Central Financial Commission, as part of a broad reform of governing bodies to strengthen the party’s oversight of economic affairs.

Persons: Pan Gongsheng, Yi Gang, Zhou Xiaochuan, Xi Jinping, Xi, ”, Ken Cheung, Zhou Organizations: Hong Kong CNN, People’s Bank of China, Communist Party, Renmin University of China, Cambridge University, Harvard University, Xinhua, Mizuho Bank, Central Financial Commission, Financial Regulatory Locations: Hong Kong, China, Beijing

☆ China's property firms rally after Beijing pledges economic support
▼ + stars: | 2023-07-25 | by ( Clare Jim | ) www.reuters.com time to read: +3 min

Its Shanghai-traded bond surged 25% to 38 yuan, while a Shenzhen-traded bond rose 44% to 33.6 yuan. "Most important, (Beijing) sent a signal of further easing property restrictions by dropping the phrase...and mentioning streaming property policies," Nomura chief China economist Ting Lu said. Sino-Ocean Group's onshore bond rose 8.6% to 23.5 yuan in Shanghai. The state-backed firm is currently negotiating with creditors to extend the repayment for the yuan bond due Aug. 2. Nomura's Lu maintained the view that there is no quick fix for the property sector, and that the central government would only marginally ease some existing restrictive measures in large cities.

Persons: Nomura, Ting Lu, Nomura's Lu, Morgan Stanley, Clare Jim, Jason Xue, Sherry Jacob, Phillips, Sam Holmes Organizations: Mainland Properties, CSI, HK, Garden Services, Communist Party, Longfor, Seazen, KWG, Ocean Group, Greenland Holdings, Country Garden, Dalian Wanda Group, Thomson Locations: HONG KONG, Hang, Hong Kong, Shanghai, Shenzhen, Beijing, China

☆ China's property shares rally after Beijing pledges economic support
▼ + stars: | 2023-07-25 | by ( Clare Jim | ) www.reuters.com time to read: +2 min

HONG KONG, July 25 (Reuters) - Shares of China's property developers surged on Tuesday following a sharp selloff in the previous session, after policymakers said they would step up support for the embattled sector. Hong Kong's Hang Seng Mainland Properties Index (.HSMPI) jumped 12%, while Chinese CSI 300 Real Estate (.CSI000952) gained 7%. "Most important, (Beijing) sent a signal of further easing property restrictions by dropping the phrase...and mentioning streaming property policies," Nomura chief China economist Ting Lu said. Lu, however, maintained the view that there is no quick fix for the property sector, and the central government would only marginally ease some existing restrictive measures in large cities. In recent weeks, investors were wary of a deepening debt crisis in the property sector as new signs of trouble emerged among state-backed property developers Sino-Ocean Group (3377.HK) and Greenland Holdings (600606.SS), as well as property giants Country Garden (2007.HK) and Dalian Wanda Group.

Persons: Nomura, Ting Lu, Lu, Morgan Stanley, Clare Jim, Sherry Jacob, Phillips, Sam Holmes Organizations: Mainland Properties, CSI, HK, Longfor, Seazen, KWG, Communist Party, Ocean Group, Greenland Holdings, Country, Dalian Wanda Group, Thomson Locations: HONG KONG, Hang, Hong Kong, China, HK, Beijing

☆ CNBC Daily Open: Even meme stocks are rallying in this market
▼ + stars: | 2023-07-25 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Stocks rallyMajor U.S. stock indexes ended Monday in the green, with the Dow Jones Industrial Average notching an 11-day winning streak. Busy week for central banksThe U.S. Federal Reserve, the European Central Bank and the Bank of Japan will all announce interest rate decisions this week. Using FactSet data, CNBC Pro screened 100,000 stocks to identify just four major stocks from around the world that have raised dividends by more than 10% annually over the past 15 years.

Persons: Elon, Linda Yaccarino's Organizations: CNBC, U.S, Dow Jones, Shenzhen Component, Chinese Communist Party, Twitter Twitter, Twitter, U.S . Federal Reserve, European Central Bank, Bank of Japan, ECB, CNBC Pro Locations: Asia, Pacific, Shanghai, Shenzhen, U.S

☆ China economy: Leaders promise more support for 'tortuous' recovery
▼ + stars: | 2023-07-25 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —China’s top leadership has vowed to do more to support a “tortuous” economic recovery, which has lost steam after an initial burst of activity early in the year. The assurances, made by the Communist Party’s 24-member Politburo — a top decision making body — boosted stocks in China-related companies on Tuesday. Shares in China’s property developers, currently mired in the industry’s worst slump on record, have soared in response. They added at a meeting chaired by leader Xi Jinping that the current economic recovery was making “tortuous” progress. Last week, official data showed economic recovery in China continued to lose momentum in the April to June months, prompting urgent calls for more help from the central government.

Persons: Hong Kong CNN —, —, China’s, Xi Jinping, Stephen Innes, ”, ” Innes Organizations: Hong Kong CNN, Communist, Mainland Properties, Longfor Group, Sunac China Holdings, Management, “ Investors Locations: Hong Kong, China, Hong, Shanghai, Shenzhen, Beijing

Washington-based analysts say Wang's return to the ministry should help China's foreign ministry resume normal operations after weeks of international speculation about Qin's fate. In the Chinese system, the top diplomat is not foreign minister but rather the director of the Chinese Communist Party's foreign affairs commission, a role Wang will continue to hold. Still, Wang's reappointment is a sign of problems in China's foreign policy establishment, said Blanchette. On Tuesday, content mentioning Qin was quickly removed from China's foreign ministry website after Wang's appointment. The tab on the website that typically holds the biography of the foreign minister simply read "Updating."

Persons: Wang Yi, Qin Gang, Xi Jinping's, Qin, Xi, Wang, Joseph Torigian, Vedant Patel, Blinken, Joe Biden, Rorry Daniels, Wang's, China's, Jude Blanchette, Craig Singleton, Michael Martina, David Brunnstrom, Don Durfee Organizations: Communist, American University, U.S . State Department, U.S, APEC, Asia Society Policy Institute, Communist Party, Washington's Center, Strategic, International Studies, Foundation for Defense of Democracies, Thomson Locations: Washington, United States, Beijing, U.S, China, China's, Xi's, India, California, Taiwan, scold Washington, Lincoln

☆ Highest-level Chinese delegation to visit North Korea since Covid restrictions
▼ + stars: | 2023-07-25 | by ( Brad Lendon | ) edition.cnn.com time to read: +7 min

Seoul, South Korea CNN —A high-level Chinese government delegation is headed to North Korea this week, believed to be the highest-level representatives from Beijing to visit Pyongyang since the isolated country closed its borders during the Covid-19 pandemic. Li’s visit comes after an invitation from North Korea, the statement said. On Tuesday, North Korean state media said a Russian military delegation would also be visiting this week. North Korea silent on US soldierRelations have been further complicated by the decision of a US soldier to cross the border between North and South Korea last week in the demilitarized zone separating the two nations. King has not been publicly seen or heard from since he crossed into North Korea last Tuesday, and North Korea has also not said anything about the status or condition of the missing soldier.

Persons: Li Hongzhong, Hu Zhaoming, Li’s, “, ”, Leif, Eric Easley, Easley, Jang, Kang Sun Nam, Travis King, Andrew Harrison, Matt Miller, Miller, “ I’m, ” Miller, King, Travis King’s, Kim, ” Easley Organizations: South Korea CNN, Communist Party, International, Department of, Central Committee, Ewha Womans University, United Nations Command, Beijing, Aid, Jeju Naval, South, South Korean Defence Ministry New, United Nations, South Korea’s, Chiefs of Staff, US Navy, Naval Base, South Korean Defence, Jeju Naval Base, South Korean, North Korean Defense, UNC, King, CNN, US State Department, King , State, North Korean, State Department, Womans University Locations: Seoul, South Korea, North Korea, Beijing, Pyongyang, Seoul . North Korea, China, United States, Aid Korea, North Korean, Russian, Soviet Union, Korea, Annapolis, South Korean, South, Jeju, Kentucky, Busan, ” an Ohio, DPRK, North, Washington, King ,

☆ China's Qin Gang had meteoric rise and swift removal
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +4 min

Born in the northern city of Tianjin in 1966, Qin studied International Politics at one of China's most prestigious schools for aspiring diplomats, the University of International Relations in Beijing. After graduating, Qin entered the diplomatic service, working in several jobs at the foreign ministry as well as postings at the Chinese Embassy in Britain. Qin was twice foreign ministry spokesman, between 2006 and 2014, and chief protocol officer between 2014 and 2018, overseeing many of Xi's interactions with foreign leaders. After becoming foreign minister, Qin's comments on hot button issues such as Taiwan and China's relations with Russia did not diverge in any significant way from those of his predecessor. In his first comments as foreign minister, Qin said in solving challenges common to all mankind, China's diplomacy would offer "Chinese wisdom, Chinese initiatives and Chinese strength".

Persons: Qin Gang, Xi Jinping, Xi, Wang Yi, Qin, Britain . Qin, Antony Blinken, Wang, Yew Lun Tian, Martin Quin Pollard, Rob Birsel, Nick Macfie Organizations: Foreign, University of International Relations, Embassy, Washington, U.S, Chinese Communist Party, Thomson Locations: Tianjin, Beijing, Britain ., United States, Washington, Taiwan, Sri Lanka, Russia, Vietnam, Indonesia, Africa, Europe, Ukraine, China, American, U.S

☆ Xi Jinping’s foreign minister ousted after month-long unexplained absence from public view
▼ + stars: | 2023-07-25 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s foreign minister Qin Gang was dramatically ousted on Tuesday after a prolonged absence from public view and replaced by his predecessor in a surprising and highly unusual shake-up of the country’s foreign policy leadership. Qin, 57, a career diplomat and trusted aide of Chinese leader Xi Jinping, had only been appointed foreign minister in December after serving as China’s ambassador to Washington. Wang, who was foreign minister from 2013 to 2022, now serves as director of the foreign affairs arm of the ruling Communist Party, a position which makes him China’s top diplomat. The appointment of a foreign minister through a vote during a China’s National People’s Congress Standing Committee meeting is a deviation from past precedents. Qin’s disappearance from China’s foreign affairs schedule has not been fully explained by the ministry, which briefly cited “health reasons” when he missed a diplomatic gathering earlier this month.

Persons: Hong Kong CNN —, Qin Gang, Qin, Xi Jinping, Wang Yi, Wang, Andrey Rudenko, Wagner, Xi, ”, Deng Yuwen, Deng, they’ve Organizations: Hong Kong CNN, Communist Party, Russian, Association of Southeast Asian Nations, ASEAN, Xi, CNN, Senior Locations: Hong Kong, Washington, China, Beijing, Sri Lanka, Vietnam, Russia, Indonesia, South Africa, Johannesburg

☆ China’s New Central Banker Once Fixed a Crisis. He May Need to Again.
▼ + stars: | 2023-07-25 | by ( Keith Bradsher | More About Keith Bradsher | ) www.nytimes.com time to read: +1 min

For nearly eight years Pan Gongsheng has overseen one of the world’s biggest pots of money: China’s $3 trillion in foreign currency reserves. Now he will run the country’s central bank, playing an even more powerful role in the Chinese economy. Mr. Pan, a prominent economist, was named on Tuesday as governor of the central bank, the People’s Bank of China. The appointment of Mr. Pan comes at a delicate time for China. Foreign currency reserves are effectively a country’s emergency fund to be used at times of financial stress.

Persons: Pan Gongsheng, Pan, Mr Organizations: People’s Bank of China, bank’s Communist Party, Administration of Foreign Exchange Locations: China, bank’s

☆ Russian delegation to join Chinese in North Korea visit
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

SEOUL, July 25 (Reuters) - A Russian delegation led by Defence Minister Sergei Shoigu will visit North Korea this week, state media agency KCNA reported on Tuesday, joining a Chinese group as the first such public visitors to the country since the start of the pandemic. The delegations will visit to celebrate the 70th anniversary of "Victory Day" on Thursday in Pyongyang, KCNA reported, with Chinese Communist Party politburo member Li Hongzhong leading the group from his country. North Korea closed its border in early 2020 to all trade and diplomatic exchanges, even with its main economic and political partners China and Russia. China's exports to North Korea in June were eight times higher than a year before, when the secretive state was reporting tens of thousands of COVID-19 cases per day and had shut its border. The United States, meanwhile, has accused North Korea of providing military aid to Russia for the war in Ukraine, a claim that both Pyongyang and Moscow deny.

Persons: Sergei Shoigu, KCNA, Li Hongzhong, Hyunsu Yim, Ed Davies, Raju Gopalakrishnan Organizations: Russian, Defence, Chinese Communist Party, European, Thomson Locations: SEOUL, North Korea, Pyongyang, China, Russia, North Korea's, European Union, Beijing, United States, Ukraine, Moscow

☆ CNBC Daily Open: May the good times roll
▼ + stars: | 2023-07-25 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow's 11-day streakMajor U.S. stock indexes ended Monday in the green, with the Dow Jones Industrial Average notching an 11-day winning streak. Busy week for central banksThe U.S. Federal Reserve, the European Central Bank and the Bank of Japan will all announce interest rate decisions this week. [PRO] No sign of recessionSteve Eisman, the investor who called and profited from the 2008 subprime mortgage crisis, told CNBC he thinks "there's no evidence of a recession" so far.

Persons: Elon, Linda Yaccarino's, aren't, Steve Eisman Organizations: CNBC, U.S, Dow Jones, Twitter Twitter, Twitter, U.S . Federal Reserve, European Central Bank, Bank of Japan, ECB, Chinese Communist Party Locations: U.S

☆ What new norm of slower Chinese growth could mean for the global economy
▼ + stars: | 2023-07-25 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

Ying Tang | NurPhoto | Getty ImagesThe Chinese economy could be facing a prolonged period of lower growth, a prospect which may have global ramifications after 45 years of rapid expansion and globalization. The ruling Chinese Communist Party has set a growth target of 5% for 2023, lower than usual and notably modest for a country that has averaged 9% annual GDP growth since opening up its economy in 1978. For the global economy, however, the most immediate spillover of a Chinese slowdown will likely come in commodities and the industrial cycle, as China reconfigures its economy to reduce its reliance on a property sector that has been "absorbing and driving commodity prices." "This shift from a complementary economy, where Beijing and Berlin kind of benefit from each other, to now being competitors is another big consequence of the structural slowdown," Green said. He noted that beyond the immediate loss of demand for commodities, China's reaction to its shifting economic sands will also have "second order impacts" for the global economy.

Persons: Ying Tang, Julian Evans, Pritchard, Evans, it's, Xi Jinping's, Rory Green, Green Organizations: Beijing, Communist Party, Capital Economics, Triple, TS Lombard, CNBC Locations: Suzhou, Shanghai, China, Asia, Beijing, Japan, Brazil, Australia, Germany, Berlin

☆ Russian military delegation arrives in North Korea to join Chinese
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +3 min

The two delegations will take part in the celebration of the 70th anniversary of "Victory Day" on Thursday in Pyongyang, state media agency KCNA reported, with Chinese Communist Party Politburo member Li Hongzhong leading the Beijing group. Russia's Defence Ministry said it had been invited by its North Korean counterpart and would attend the Victory Day events. The ministry posted a short video on its Telegram messaging app showing Shoigu being greeted by a North Korean military official on a red carpet at an airport's tarmac. North Korea closed its border in early 2020 to all trade and diplomatic exchanges, even with its main economic and political partners China and Russia. The United States has accused North Korea of providing military aid to Russia for the war in Ukraine, a claim that both Pyongyang and Moscow deny.

Persons: Sergei Shoigu, KCNA, Li Hongzhong, Russian Federation Sergei Shoigu, Vedant Patel, Patel, Hyunsu Yim, Andrew Osborn, Simon Lewis, Lidia Kelly, Ed Davies, Raju Gopalakrishnan, Mark Heinrich, Sandra Maler Organizations: Russian, Defence, Chinese Communist Party, Russia's Defence Ministry, North Korean, Comrade, Russian Federation, European Union, United, . State Department, DPRK, Thomson Locations: SEOUL, MOSCOW, North Korea, Pyongyang, Beijing, Russian, Korean, China, Russia, North Korea's, United States, Ukraine, Moscow, Washington, Melbourne

Risk factors usually flag uncertainties in how Chinese laws are interpreted and enforced as well as the government's "substantial oversight and influence" over businesses. Chinese regulators want those boilerplate disclosures dropped; if not, offshore listing applications could be denied approval. Trying to appease both American and Chinese regulators will get tougher. On Friday, Chinese regulators held a rare meeting with KKR (KKR.N), Blackstone (BX.N), Carlyle (CG.O) and others to ensure they can continue to invest in the country. China's new offshore listing rules came into effect on March 31.

Persons: Didi Global, underwriters Goldman Sachs, Morgan Stanley, JPMorgan Chase, Carlyle, Una Galani, Thomas Shum Organizations: Reuters, Global, U.S . Securities, Exchange Commission, underwriters, JPMorgan, KKR, Blackstone, Bloomberg, Communist Party, China Securities Regulatory Commission, SEC, Thomson Locations: HONG KONG, Beijing, Hong Kong, United States, New York, China

Top leaders pledged to "intensify macroeconomic policy adjustments, focus on expanding domestic demand, boosting confidence and preventing risks, and continuously promote the improvement of economic operations," Xinhua said. China will implement its macro adjustments in a precise and forceful manner and strengthen counter-cyclical adjustments, as the government sticks with a prudent monetary policy and pro-active fiscal policy, the Politburo was quoted as saying. China will actively expand domestic demand, boosting residents' incomes to unleash the fundamental role of consumption in driving economic growth, while speeding up local special bond issuance to spur investment. Amid the mounting local debt repayment burden, China will effectively resolve local government debt risks and formulate a basket of plans to resolve local debt issues, Xinhua said. China last week also released guidelines to improve the private sector and vowed to make it "bigger, better and stronger."

Persons: Xi, Ellen Zhang, Kevin Yao, Joe Cash, Jacqueline Wong Organizations: Communist Party, Xinhua, Chinese Communist Party, Thomson Locations: China, BEIJING, Xinhua, Beijing

☆ China's state planner unveils steps to spur private investment
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 24 (Reuters) - China's state planner on Monday unveiled measures that seek to promote, encourage and spur private investment in some infrastructure sectors and said it will strengthen financing support for private projects. In the guidelines released last week, China said it will create a "traffic light" system to make clear the areas in which private investors are able to invest. "Significance of improving private investment should be fully recognised" and the NDRC will strive to keep the proportion of private fixed-asset investment among all investment at a "reasonable level," the statement said. Private fixed-asset investment shrank by 0.2% in the first six months from a year earlier, in contrast to an 8.1% rise in investment by state entities, official data showed last week, highlighting weak private sector confidence. A special fund from central government budget will be set up by the NDRC to give annual support for 20 cities with high private investment growth and strong policy implementation, the statement said.

Persons: NDRC, Ellen Zhang, Bernard Orr, Kim Coghill Organizations: Communist Party, National Development, Reform Commission, Thomson Locations: BEIJING, China

BEIJING, July 24 (Reuters) - China is struggling to revive foreign investment in its financially battered cities and provinces as foreign firms remain wary of political risks and new incentives fall far short of sweeteners once used to attract overseas money. With their coffers depleted after an economically bruising pandemic and property crisis, local authorities have been racing to find new revenue sources, with foreign investment particularly coveted. He cited five meetings between their London office and delegations from Chinese local governments in late June. PART OF THE SYSTEMLocal authorities carry out a delicate balancing act when courting foreign investment and dealing with critical questions about Xi's security policies. "As far as the macro situation is concerned, local governments can't do anything to reassure foreign investors.

Persons: Premier Li Qiang, Kiran Patel, Xi Jinping's, Noah Fraser, it's, Li Qiang, Agatha Kratz, Joe Cash, Brenda Goh, Sam Holmes Organizations: Premier, China - Britain Business Council, China's Ministry of Commerce, Canada China Business Council, Communist Party, Thomson Locations: BEIJING, China, Sichuan, Chaozhou, Shanghai

☆ China has announced a slew of measures to bolster its economy. Here's what we know so far
▼ + stars: | 2023-07-24 | by ( Clement Tan | ) www.cnbc.com time to read: +5 min

Here are some of the key measures released by the Chinese government in recent weeks. Private businessesOn Monday, China's economic planning agency announced a series of measures to promote private investment. Julian Evans-Pritchard Capital EconomicsThe NDRC said it will support private investment in sectors — such as transportation, water conservancy, clean energy, new infrastructure, advanced manufacturing and modern agriculture facilities. The agency is also encouraging private investment projects to issue real estate investment trusts (REITS) in the infrastructure sector to promote asset diversification and further broaden investment and financing channels for private investment. Business sentiment has generally soured amid lackluster economic growth after China's initial recovery following its exit from "zero Covid" faltered.

Persons: Julian Evans, Pritchard Organizations: Afp, Getty, China, Private, Communist Party, National Development, Reform, Pritchard Capital, People's Bank of China, State Administration of Foreign Exchange, China Economics, Capital Economics, Household, Commerce Locations: China, Beijing, Shanghai

July 25 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. BI won't want the rupiah to strengthen too much because exports will suffer, but won't want potential inflation-boosting weakness either. On a year-on-year basis, GDP was expected to have expanded 0.8% in the April-June period, down slightly from 0.9% in January-March. On a quarterly basis, however, Asia's fourth largest economy is expected to have expanded 0.5%, up from 0.3% growth in the first quarter. Here are key developments that could provide more direction to markets on Tuesday:- Indonesia interest rate decision- South Korea GDP (Q2)- Hong Kong trade (June)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles.

Persons: Jamie McGeever, Dalian Wanda, Monday's, Xi Jinping, Wall, Dow, Morgan Stanley's Mike Wilson Organizations: U.S, Garden, Dalian, Communist Party, Bank Indonesia, BI, China, Thomson, Reuters Locations: China, Beijing, Indonesia, South Korea, Asia, Korea, Hong Kong

ReutersBEIJING – International investment firms have changed their China GDP forecasts nearly every month so far this year, with JPMorgan making six adjustments since January. Here are some winners to watch The U.S. investment bank most recently cut its China GDP forecast in July to 5%, down from 5.5% previously. In June, the World Bank raised its forecast for China's growth this year to 5.6%, up from 4.3% previously. The International Monetary Fund in April raised its forecast for China's GDP to 5.2%, up from 4.4% previously. Among the six investment firms CNBC looked at, the highest China GDP forecast so far this year was JPMorgan's 6.4% figure — when the bank adjusted for the second time in April alone.

Persons: Morgan Stanley, Nomura, Goldman Sachs, Logan Wright, Shehzad Qazi, Qazi Organizations: Reuters, Reuters BEIJING – International, JPMorgan, CNBC, Citi, Beijing, Citi's, UBS, National Bureau, Statistics, U.S, Chinese Communist Party . Investment, Bank, International Monetary Fund, Monetary Fund Locations: Lianyungang, Jiangsu province, China, Reuters BEIJING, U.S, Beijing, New York

☆ Moviegoers have spotted a blooper in ‘Oppenheimer’
▼ + stars: | 2023-07-24 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

But eagle-eyed fans have spotted a mistake in a scene set in 1945, as Cillian Murphy’s J. Robert Oppenheimer stands among a crowd waving American flags – bearing the wrong number of stars. Universal Pictures“It was good and all, but I’ll be that guy and complain they used 50-star flags in a scene set in 1945,” Twitter user Andy Craig wrote on Friday. In 1945, the American flag featured 48 stars, as Alaska and Hawaii hadn’t yet become US states. But in another scene set in the same year, the correct American flag flies behind Oppenheimer. “Barbie called this in didn’t she,” another Twitter user joked, referencing the fact that “Oppenheimer’s” release date coincided with Greta Gerwig’s “Barbie.

Persons: Christopher Nolan’s, “ Oppenheimer, ”, J, Robert Oppenheimer, Cillian Murphy, Andy Craig, Oppenheimer, McCarthy, “ Barbie, Greta Gerwig’s “ Barbie, ” “ Oppenheimer ”, Paul Dergarabedian, Dergarabedian Organizations: CNN, Universal, US Atomic Energy, Communist Party Locations: Alaska, Hawaii, didn’t

☆ High-level Chinese delegation to visit North Korea - KCNA
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

SEOUL, July 24 (Reuters) - A high-level Chinese delegation will travel to North Korea this week, the North's official KCNA news agency reported on Monday, in the first acknowledged visit of its kind since Pyongyang shut its borders in the wake of the COVID-19 epidemic. Chinese Communist Party politburo member Li Hongzhong will take part in celebrations marking the 70th anniversary of the end of the Korean War, KCNA reported. North Korea closed its border in early 2020 to all trade and diplomatic exchanges, even with its main economic and political ally China. North Korea refers to July 27 1953, the date when the armistice ending fighting in the Korean War was signed, as victory day. Large-scale events are expected to mark the 70th anniversary this year.

Persons: Li Hongzhong, KCNA, Li, Jack Kim Organizations: Communist Party, National, Congress, Fatherland, Thomson Locations: SEOUL, North Korea, Pyongyang, China, South Korea, Washington

“Obviously, the little girls that are going to see Barbie, none of them are going to have any idea what those dashes mean,” Mr. Cruz told Fox News. “This is really designed for the eyes of the Chinese censors, and they’re trying to kiss up to the Chinese Communist Party because they want to make money selling the movie.”The response on the right is not a one-off. For a generation of conservative personalities, weaned on Andrew Breitbart’s much-cited observation that “politics is downstream of culture,” Hollywood and other ostensibly liberal bastions are to be confronted head-on, lest their leanings ensnare young voters without a fight. Recent years have provided ample evidence, some on the right say, for a “go woke, go broke” view that progressivism is bad business. (Of course, there is no way to trace exactly what determines any movie’s success or failure, and many observers adhere to the screenwriter William Goldman’s axiom: “Nobody knows anything.”)“Barbie” cannot be said to have gone broke.

Persons: Mr, Cruz, Andrew Breitbart’s, ensnare, ”, Mario, Halle Bailey, ’, William Goldman’s, Barbie, Rich Cromwell, ” Kyle Smith Organizations: Fox News, Chinese Communist Party, Mario Bros, Black, Wall Street

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