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☆ Cramer says snap up this leading medtech stock — wishes he could buy shares too
▼ + stars: | 2023-06-08 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

GE Healthcare (GEHC) shares are sliding Thursday, giving Club members an opportunity to invest in the medical-technology company at an increasingly attractive valuation. The noise around this transaction seems to be dragging down GE Healthcare shares. Thursday's declines push GE Healthcare shares below our cost basis of $79.47, which typically is a welcome development for a newer, smaller position. Essentially, what's happening now is General Electric is exchanging more than a quarter of its GEHC shares in a deal with Morgan Stanley. So, it's hardly a surprise to see General Electric monetizing some of its GE Healthcare stake to improve its balance sheet.

Persons: Jim Cramer, we're, we'd, Jim, Electric's, isn't, Morgan Stanley, Larry Culp, Global's, dilutive, Jim Cramer's, Yi Haifei Organizations: GE Healthcare, Electric, GE, CNBC, General Electric, GE Vernova, Intel, Mobileeye, Fair for Trade, Services, China National Convention Center, China News Service, Getty Locations: China, Beijing

☆ China is drilling a hole over 33,000-feet-deep to explore the Earth's crust
▼ + stars: | 2023-06-03 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +2 min

China has begun drilling a hole over 10,000 meters (32,808 feet) deep into the Earth's crust. Chinese President Xi Jinping named deep Earth sciences one of four strategic frontiers to explore. The drilling project, led by the country's largest oil producer China National Petroleum Corp., would be among the deepest ever drilled. In a 2021 speech addressing the nation's top scientists, Chinese President Xi Jinping named deep Earth sciences one of four strategic frontiers to explore. The deepest hole is still the Kola Superdeep Borehole in Russia, which reached 12,262 meters (40,230 feet) in 1989 after 20 years of drilling.

Persons: Xi Jinping, Wang Chunsheng Organizations: Service, Privacy, Scientists, China National Petroleum Corp, Xinhua, Chinese Academy of Engineering, Bloomberg Locations: China, Xinjiang, Xinhua, Russia

☆ China's security crackdown could signal new realities for foreign investors
▼ + stars: | 2023-05-16 | by ( Clement Tan | ) www.cnbc.com time to read: +6 min

Last Monday, state broadcaster CCTV singled out a consulting company for not complying with China's national security laws. "It may seem a paradox," said Chong Ja Ian, an associate professor at the National University of Singapore who studies Chinese foreign policy. So much of what is now regarded as national security or state secrets is not sufficiently defined or classified. This includes passing a data security law in 2021 on the protection of information involving national and economic security and on issues of important public interest. "To have multiple companies involved now in this crackdown and the restriction of financial data to foreigners, it appears that Chinese security departments are on to something larger."

☆ Beijing expects foreigners to trust, not verify
▼ + stars: | 2023-05-05 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +4 min

In recent months, Chinese investigators have detained employees of U.S. due-diligence firm Mintz Group, visited consultancy Bain & Company and suspended auditor Deloitte’s Beijing operations for three months. Security watchdogs have restricted overseas access to financial data providers like Wind Information, as well as academic database China National Knowledge Infrastructure. Local banks loaned 3.9 trillion yuan ($560 billion) in March alone while corporations issued 328 billion yuan of bonds. Besides Wind, other Chinese data providers including company databases Qichacha and TianYanCha have stopped opening to offshore users, according to three of the sources. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

HONG KONG, May 4 (Reuters) - China's biggest financial data provider Wind Information Co told some customers late last year that it was restricting offshore users from accessing certain business and economic data as a result of the cybersecurity regulator's new data rules, two sources said. Restricted access to Wind by offshore users comes as China sharpens its focus on data usage and security amid rising geopolitical tensions and concerns about privacy in the world's second-largest economy. A Wind salesperson told the source in September the company had made the changes as per instructions from the Cyberspace Administration of China (CAC), which asked it to stop providing offshore users with certain data. The restrictions on offshore users' access to certain Wind data have expanded since last September, said the first source. Reuters has reported, citing sources that Chinese data providers including company databases Qichacha, partially owned by Wind, and TianYanCha have stopped opening to offshore users for at least months.

☆ China to test out 3D printing technology on moon to build habitats
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +1 min

BEIJING, April 24 (Reuters) - China will explore using 3D printing technology to construct buildings on the moon, the official China Daily reported on Monday, as Beijing solidifies plans for long-term lunar habitation. In the 2020 Chinese lunar mission, the Chang'e 5, named after the mythical Chinese goddess of the moon, an uncrewed probe took back to Earth China's first lunar soil samples. China, which made its first lunar landing in 2013, plans to land an astronaut on the moon by 2030. China wants to start building a lunar base using soil from the moon in five years, Chinese media reported earlier this month. The race to set foot on the moon has intensified in recent years, particularly with the United States.

LAUNCESTON, Australia, March 28 (Reuters) - China's crude oil imports will average 10.8 million barrels per day (bpd) in 2023, matching the previous record high from 2020, according to the think tank of the country's leading energy group. What is interesting with the ETRI forecasts is that they would seem to show that China's refiners are still expecting to add crude oil to stockpiles over 2023. This is some 370,000 bpd more than the ETRI forecast for refinery throughput of 14.66 million bpd. China's crude oil imports seen rebounding to new high in 2023NEW REFINERIESIt's likely that some of the oil heading for storage will go to build working inventories for new plants expected to be commissioned this year. Flows in, or indeed out of, either commercial or strategic reserves are the biggest X-factor for China's crude oil imports.

☆ Oil prices soften; banking crisis and Chinese demand in focus
▼ + stars: | 2023-03-28 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose in early Asian trade on the prospect that a stalled Iran nuclear deal and Moscow's new mobilization campaign would restrict global supplies. Crude prices retreated on Tuesday after rallying the previous session, with markets focused on developments in the banking crisis and indications of strengthening demand in China. Oil prices were also likely to continue drawing support from indications of recovering Chinese demand. "China's manufacturing and services PMIs will be a major economic driver to oil prices as positive data is most likely to further improve the demand outlook," Teng said. U.S. crude oil stockpiles were seen rising about 200,000 barrels last week, a preliminary Reuters poll showed on Monday.

March 28 - Crude prices moved in a narrow range in early Asian trade on Tuesday after rallying in the previous session, with oil markets focused on developments in the banking crisis as well as on supply concerns and indications of strengthening demand. Brent crude futures fell 2 cents to $78.10 a barrel at 0018 GMT. Prices rose in the previous session after Turkey stopped pumping crude from Kurdistan via a pipeline following an arbitration decision that confirmed Baghdad's consent was needed to ship the oil. Oil prices also drew support from indications of strong Chinese demand. U.S. crude oil stockpiles were seen rising about 200,000 barrels last week, a preliminary Reuters poll showed on Monday.

REUTERS/Florence LoBEIJING, March 20 (Reuters) - Chinese state energy giants have made a number of multi-billion dollar investments in Russia, one of China's top oil and gas suppliers, across various stages of the energy supply chain. Below are the main investments by the Chinese government, key state-owned energy companies and their listed vehicles, based on company releases and Reuters reports. 2005: Sakhalin-3 Veninsky oil projectRussian oil giant Rosneft (ROSN.MM) and Sinopec (600028.SS), agreed to jointly explore the Sakhalin-3 Veninsky block during a visit by China's then-president Hu Jintao to Moscow in 2005. It became China's first energy project in Russia. 2019: Arctic LNG 2In 2019 China's CNOOC Ltd (0883.HK) and PetroChina agreed to buy a combined 20% stake in the $25.5 billion Arctic-2 liquefied natural gas project led by Novatek.

☆ China aims to launch nearly 13,000 satellites to 'suppress' Elon Musk's Starlink, researchers say
▼ + stars: | 2023-03-05 | by ( Stephen Chen | South China Morning Post | ) www.businessinsider.com time to read: +4 min

The Chinese satellites could be equipped with an anti-Starlink payload to carry out various missions, such as conducting "close-range, long-term surveillance of Starlink satellites," they said. "The Starlink satellites may use their orbital manoeuvrability to actively hit and destroy nearby targets in space," the researchers said. China plans to build more powerful radar systems powered by new technology to identify and track Starlink satellites, they said. The Ukrainian military has used Starlink services effectively against Russian forces. US Secretary of State Antony Blinken said on February 18 that the US government had talked to Musk about the use of Starlink satellite internet in Ukraine, but did not elaborate.

☆ NASA imagery reveals China's Mars rover hasn't moved in months as Chinese scientists scramble to save the mission
▼ + stars: | 2023-03-01 | by ( Chris Panella | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

NASA imagery from Mars shows that China's rover hasn't moved in months. Chinese scientists are scrambling to make contact, according to the South China Morning Post. China's rover, Zhurong, could be covered in dust and drained of energy, like NASA's InSight lander. Arrows highlight the location of China's Zhurong rover in March 2022, September 2022, and February 2023. A photo showing the back of China's Zhurong rover from its landing spot on Mars' Utopia Planitia following a May 15, 2021 landing.

☆ The week in Asian football
▼ + stars: | 2023-02-27 | by ( Michael Church | ) www.reuters.com time to read: +3 min

HONG KONG, Feb 27 (Reuters) - Talking points from the week in Asian football:RONALDO'S SAUDI SCORING STREAK CONTINUES WITH HAT-TRICKCristiano Ronaldo's scoring run continued on Saturday as the Portuguese attacker netted all three goals in Al Nassr's 3-0 victory over Damak. The 38-year-old capped the scoring a minute before halftime when he side-footed home after Ayman Yahya cut the ball back towards the penalty spot. The goal was Ronaldo's eighth in five league games since joining Al Nassr after the World Cup. The defeat was the second in a row for new Urawa coach Maciej Skorza and the Pole's team are bottom of the standings. JANKOVIC APPOINTED NEW CHINA COACHSerbian Aleksandar Jankovic has been named coach of the China national team for next year's Asian Cup and the qualifiers for the 2026 World Cup.

☆ How China is helping to prop up the Russian economy through the war in Ukraine
▼ + stars: | 2023-02-22 | by ( Laura He | ) edition.cnn.com time to read: +8 min

China has been buying more energy from Russia since the Ukraine war started. Total trade between China and Russia hit a new record high in 2022, up 30% to $190 billion, according to Chinese customs figures. In particular, the energy trade has risen markedly since the onset of the war. Russian companies have been using more yuan to facilitate the increased trade with China. UnionPay, the Chinese payments system, has reportedly stopped accepting cards issued by Russian banks over fears of international sanctions, according to Russian paper Kommersant.

If sealed, this would be the second such deal between major LNG exporter Qatar and the world's no.2 LNG buyer, as Beijing looks to beef up gas supply and diversify its sources in a drive to replace coal and cut carbon emissions. CNPC's talks follow a deal announced last November by China's Sinopec, in which QatarEnergy agreed to supply 4 million tonnes of LNG annually for 27 years, the longest duration LNG supply contract ever signed by Qatar. "This is a good move for CNPC, securing additional long term supply from a reliable and well positioned partner. Sinopec said in November the gas purchase agreement was part of an "integrated partnership", which indicated the Chinese firm could be considering acquiring a stake in Qatar's North Field expansion export facility. Chinese customs data showed the country's imports of Qatari LNG surged 75% last year from 2021 to 15.7 million tonnes, making up a quarter of the nation's total imports, while China's total LNG imports shrank nearly 20%.

☆ Factbox: Chinese chipmakers caught in U.S.-China tech spat
▼ + stars: | 2023-01-31 | by ( Josh Horwitz | ) www.reuters.com time to read: +4 min

TSMC is the world's most valuable chipmaker and counts Apple Inc (AAPL.O) and Nvidia Corp (NVDA.O) among major clients. Its government-backing and ambition to make high-end chips caught the attention of the United States which put the firm on its Entity List in 2020. To date, most of SMIC's sales are made using the outdated 45 nanometer process node and above. Since late 2020, this specialisation in older chips has proven a boon due to a global shortage of lower-end chips. It produces DRAM at the 19 nanometer node and is moving into the 17 nanometer node - process nodes behind the industry leading-edge.

☆ Philippines top court voids old South China Sea energy deal
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +2 min

Companies Philippines Oil FollowMANILA, Jan 10 (Reuters) - The Supreme Court in the Philippines on Tuesday declared the country's 2005 energy exploration agreement with Chinese and Vietnamese firms was illegal, ruling the constitution does not allow foreign entities to exploit natural resources. The decision, on an agreement that expired in 2008, could complicate efforts by China to revive oil and gas exploration talks with the Philippines in areas of the South China Sea that are not in dispute. China and the Philippines have sparred for decades over sovereignty and natural resources in the South China Sea, which led to a landmark arbitration case in 2016 won by Manila. Efforts to find a legally viable way to work together on energy exploration have repeatedly hit walls. China claims jurisdiction over almost the entire South China Sea and the risk of energy activities being disrupted have made it tricky for the Philippines to find foreign partners, despite an arbitration court clarifying what Manila's entitlements were.

☆ Chinese academic database fined by antitrust watchdog
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Dec 26 (Reuters) - China's State Administration for Market Regulation (SAMR) has fined China National Knowledge Infrastructure (CNKI) 87.6 million yuan ($12.6 million) for abusing a "dominant market position", the watchdog said on its website on Monday. SAMR launched an antitrust investigation into the Chinese academic database in May. ($1 = 6.9601 Chinese yuan renminbi)Reporting by Sophie Yu and Bernard Orr Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Gazprom says it supplied record volume of gas to China on Dec. 14
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: 1 min

Companies Gazprom PAO FollowMOSCOW, Dec 15 (Reuters) - Russian energy giant Gazprom (GAZP.MM) supplied a record daily volume of gas to China via the Power of Siberia pipeline on Dec. 14, it said on Thursday. The company did not disclose the volume but said that the daily supply to China National Petroleum Corporation exceeded contractual obligations by 16.5%Reporting by Vladimir Soldatkin Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ China shipyards feast on record LNG tanker orders as South Korea builders are full up
▼ + stars: | 2022-12-12 | by ( Chen Aizhu | ) www.reuters.com time to read: +7 min

Chinese shipyards this year won 45 LNG tanker orders worth an estimated $9.8 billion, about five times their 2021 order values, according to shipping data provider Clarksons Research. By late November, Chinese yards had grown their LNG order books to 66 from 21, giving them 21% of global orders worth around $60 billion. Still, Chinese yards received 19 foreign orders for LNG tankers this year and that number is likely to grow. "Chinese yards have become more attractive because of the South Korean backlog, as well as rising costs," said ICIS analyst Songer. Chinese yards' relationship with GTT also helps, he said.

Exports also benefited from the restart of a PDVSA-Chevron crude upgrader at their Petropiar joint venture in the Orinoco Belt. Nearby, one of Petrolera Sinovensa's two crude blending plants operated by PDVSA and China National Petroleum Corporation (CNPC) also resumed work. Venezuelan PDVSA's crude processing facilities restarted operations after outages and a lack of diluents, leading to a sale increase in November. PDVSA also sent about 38,000 bpd of crude, fuel oil and gasoline blend stock to key political ally Cuba. Another Iran-flagged tanker in Venezuela, the Huge, is also expected to navigate back carrying fuel oil for NICO this month as part of an oil swap with PDVSA, according to the documents.

☆ Philippines needs to find ways to exploit South China Sea resources, says Marcos
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +2 min

MANILA, Dec 1 (Reuters) - The Philippines must find a way to explore for oil and gas in the South China Sea even without a deal with China, President Ferdinand Marcos Jr said on Thursday, emphasising his country's right to exploit energy reserves in the contested waterway. Talks over joint energy exploration between Manila and Beijing in the South China Sea had been terminated, the previous government said in June, citing constitutional constraints and issues of sovereignty. I think there might be other ways so it does not have to be G-to-G (government-to-government)," Marcos said. During a three-day visit last week, U.S. Vice President Kamala Harris affirmed American defence commitments to the Philippines and reiterated support for a 2016 arbitration ruling that invalidated Beijing's expansive South China Sea claims. The ruling, which China refused to recognise, states that the Philippines has sovereign rights to exploit energy reserves inside its 200-mile Exclusive Economic Zone.

☆ Several Beijing districts shut schools as China COVID cases rise
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +4 min

China is fighting numerous COVID-19 flare ups, from Zhengzhou in central Henan province to Chongqing in the southwest and for Sunday reported 26,824 new local cases, nearing April's peaks. It also recorded two deaths in Beijing, up from one on Saturday, which was China's first since late May. It also suspended dine-in services and shut night clubs and theatres in Tianhe, home to the city's main business district. This sparked worry among some local residents. The capital Beijing reported 962 new infections, up from 621 a day earlier.

☆ China vows to continue with 'dynamic-clearing' COVID strategy
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +2 min

The country's strict COVID containment approach is still able to control the virus, despite the high transmissibility of COVID variants and asymptomatic carriers, an official from the China National Health Commission told a news conference. Asked if there would be a change of policy in the near term, disease control official Hu Xiang said China's measures are "completely correct, as well as the most economical and effective." The briefing followed a week in which markets surged on hope China would relax restrictions, buoyed further on Friday when a former disease control official told a banking conference that China would make "substantial" changes to COVID policy in the coming months. "We attach great importance to these problems and are rectifying them," said Tuo Jia, another disease control official. China reported 3,837 new COVID-19 infections for Friday, of which 657 were symptomatic and 3,180 were asymptomatic, a slight decrease from the six-month-high of 4,045 new COVID-19 infections reported a day earlier.

☆ China's Sept crude oil imports fall, fuel exports hit 15-mth high
▼ + stars: | 2022-10-24 | by ( Chen Aizhu | ) www.reuters.com time to read: +3 min

REUTERS/StringerSINGAPORE, Oct 24 (Reuters) - China's crude oil imports in September were 2% below their level a year earlier, data showed on Monday, as independent refiners curbed throughput amid thin margins and lacklustre demand. The world's largest crude importer brought in 40.24 million tonnes of crude oil last month, equivalent to about 9.79 million barrels per day (bpd). While state refineries have mostly returned from outages and planned maintenance, independent refiners, which make up about one-fifth of China's crude oil imports, have continued to hold down production. However, the data showed that exports last month of refined fuel - including diesel, gasoline, aviation fuel and marine fuel oil - soared 36% from a year earlier to 5.64 million tonnes. Year-to-date exports were down 27.6% at 35.45 million tonnes, as a result of Beijing's policy adopted in late 2021 to limit fuel exports and excessive refinery processing.

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