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☆ China to boost regulatory oversight of digital economy -c.bank deputy governor
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

BOAO, China, March 31 (Reuters) - China will beef up its regulatory oversight of the digital economy, as new technologies, especially new forms of finance, should not be blindly accepted and recognised, a deputy governor of China's central bank said on Friday. Digital currencies and newly invented cryptocurrencies, rather than solving problems in finance, can in fact create new challenges, Xuan Changneng, a deputy governor of the People's Bank of China, said at the annual Boao Forum in Hainan province. He did not spell out steps that will be taken to boost oversight. China itself has launched its own digital renminbi, or yuan, but it is little used. The National Financial Regulatory Administration will absorb the China Banking and Insurance Regulatory Commission's responsibilities and take over some supervisory functions from the central bank and the securities regulator.

☆ China plans random, spot checks at hospitals to track COVID
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +1 min

March 30 (Reuters) - Chinese officials plan random and spot checks at medical facilities in the country to track incomplete and under-reported COVID-19 data, the country's health authority said, amid a wider call by global authorities for more transparency. For months, the country has faced pressure from countries and health experts to reveal and be more forthcoming with COVID data, most notably official numbers around severe hospitalisations and deaths. Recently, advisers to the World Health Organization urged China to release all information related to the origin of the COVID pandemic. Local governments should actively seek financial support to ensure funding for the costs surrounding the random checks, the health authority said. Reporting by Ethan Wang and Bernard Orr; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

☆ China's Xi speaks with Saudi crown prince, supports Saudi-Iran talks
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

BEIJING, March 28 (Reuters) - China's President Xi Jinping spoke by phone with Saudi Crown Prince Mohammed bin Salman Al Saud, discussing a wide range of subjects including supporting follow-up talks between Saudi Arabia and Iran, state media CCTV reported on Tuesday. Xi recently helped broker a surprise deal between Iran and Saudi Arabia, Middle East rivals, earlier this month to restore diplomatic ties, in a display of China's growing influence in the region which is being warily watched by the United States. Prince Mohammed, who is also the kingdom's prime minister, voiced appreciation for China's initiative to support "efforts to develop good neighbourliness" between Sunni Muslim Saudi Arabia and Shi'ite Iran, Saudi state news agency SPA said. The two leaders stressed the importance of strategic ties between Saudi Arabia, the world's top oil exporter, and economic powerhouse China, a main trade partner of Gulf states, it added. Saudi Arabia and other Gulf states have voiced concern about perceived disengagement by main security guarantor the United States from the region and have moved to diversify partners with an eye on national economic and security interests.

☆ China to stabilise automobile, consumer electronics consumption
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: 1 min

BEIJING, March 23 (Reuters) - China will make efforts to stabilise automobile, consumer electronics consumption, and expand home appliances and green building materials consumption, the Ministry of Industry and Information Technology said on Thursday. The country will also consolidate its leading position in industries such as new energy vehicles, photovoltaic equipment, mobile communications and power equipment, the ministry said in a statement on its website. China's industrial economy is still recovering in general, and the issue of insufficient demand is prominent, the ministry added. Reporting by Ethan Wang and Liz Lee; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ China names U.S.-sanctioned general Li Shangfu as defence minister
▼ + stars: | 2023-03-12 | by ( ) www.reuters.com time to read: 1 min

BEIJING, March 12 (Reuters) - China named Li Shangfu, a U.S.-sanctioned general, as its new defence minister on Sunday. Li has been under U.S. sanctions since 2018 over the purchase of combat aircraft and equipment from Russia's main arms exporter, Rosoboronexport. Chen Yixin and Wang Xiaohong remained as ministers of state security and public security, respectively. Qin Gang and He Rong remained as ministers of foreign affairs and justice, respectively. Reporting by Yew Lun Tian and Ethan Wang; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi, Iran restoration of ties a 'victory for dialogue'-China’s Wang Yi
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +2 min

China Daily via REUTERSBEIJING, March 10 (Reuters) - The successful talks between Iran and Saudi Arabia in Beijing are a victory for dialogue and peace, China's top diplomat Wang Yi said on Friday, following the major diplomatic coup for China in Middle East geopolitics. Iran and Saudi Arabia agreed on Friday to re-establish relations after seven years of hostility which had threatened stability and security in the Gulf and helped fuel conflicts in the Middle East from Yemen to Syria. In the statement, the three parties expressed their willingness to make "every effort" to strengthen international and regional peace and security. "As a good-faith and reliable mediator, China has faithfully fulfilled its duties as the host," Wang said. Reporting by Ethan Wang and Ryan Woo; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ Chinese EV comptition hots up as BYD offers discounts
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] BYD electric vehicles (EV) are displayed at a car dealership in Shanghai, China, February 3, 2023. The discounts will be for buyers who place orders for the Song Plus and Seal models between March 10 and March 31, the company said on its social media account. In return for an 88 yuan ($12.64) deposit, buyers for a Seal EV can get 8,888 yuan deducted from the price, while for Song Plus models, the discount is 6,888 yuan. It sold 34,621 Song Plus SUVs and 14,372 Seal sedans in the first two months, according to China Passenger Car Association. The car association data showed Tesla (TSLA.O) sold 39,710 Model Ys and 21,056 Model 3s in January and February combined.

☆ China to promote vaccine development, new medicines
▼ + stars: | 2023-03-05 | by ( ) www.reuters.com time to read: +2 min

BEIJING, March 5 (Reuters) - China will prevent and control health outbreaks in a more scientific, precise and efficient way, and upgrade vaccines and develop new medicines to ensure enough supply for the public, Premier Li Keqiang said on Sunday. Last month, China's top leaders declared a "major victory" over COVID, claiming the world's lowest fatality rate, although experts have questioned that data. During last year's parliament meeting, the government said the country would speed up research and development of vaccines and drugs. On Sunday, the NDRC also said China will make continuous efforts to ensure the production, distribution and supply of key medical supplies. Reporting by Ethan Wang and Bernard Orr; Editing by William Mallard and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ Foxconn chairman meets senior officials in China's Henan - provincial govt
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Feb 22 (Reuters) - Foxconn Chairman Liu Young-way met with the party chief of China's Henan province, home to the company's iPhone plant that was hit late last year by a COVID-19 outbreak, the provincial government said on Wednesday. Liu, who departed on Tuesday for a four-day inspection of the plant in the provincial capital of Zhengzhou, has met Lou Yangsheng, the Communist Party chief of Henan province and Wang Kai, provincial governor, the statement said. Henan pledged broad support for businesses and hoped Foxconn would continue to expand in the province, the statement added. Reporting by Ethan Wang and Meg Shen; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ China says will craft policies to help economy, improve child care
▼ + stars: | 2023-02-16 | by ( Joe Cash | ) www.reuters.com time to read: +1 min

BEIJING, Feb 16 (Reuters) - China's state planning body and finance ministry on Thursday said they will craft policies aimed at stimulating spending on housing and unlocking consumer savings that have been built up during the pandemic. The announcements, reported by state media, also included plans to help the elderly, improve child care services and encourage couples to have more children. The National Development and Reform Commission, China's state planner, will also work on plans to boost incomes, improve the spending power of low and middle-income citizens while encouraging spending on housing, new energy vehicles and elderly care services, it said in the ruling Communist Party journal Qiushi. Chinese government officials have consistently spoken of the need to boost domestic demand this year after economic growth in 2022 slumped to one of its weakest levels in nearly half a century. Reporting by Joe Cash, Ethan Wang and Beijing newsroom; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

☆ China needs stronger family-focussed policies to spur births, Chinese expert says
▼ + stars: | 2023-02-12 | by ( ) www.reuters.com time to read: +2 min

Feb 12 (Reuters) - China should enhance incentives for people to build families and boost the birth rate as the country's now-falling population could threaten the world's second-biggest economy, a Chinese family planning expert said. Wang Pei'an, deputy director of the China Family Planning Association, said on Saturday more tax incentives should be created based on the family unit that could encourage births. Speaking at the third Chinese and Development Forum in Beijing, Wang cited a growing trend among younger generations to forestall having children. He called for more incentives around employment, medical care, social security and housing that could encourage people to build families. Reporting by Ethan Wang; Writing by Bernard Orr; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ China says COVID situation at 'low level' after holiday
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

Travel domestically as well as in and out of China during the holiday period rose sharply as millions boarded planes, trains, buses and highways after Beijing abruptly dismantled an almost three-year zero-COVID policy in early December. China's sudden relaxation of COVID restrictions was followed by a wave of infections across its 1.4 billion population. Last week, however, the China Center for Disease Control and Prevention said there was no significant rebound in cases during the holiday, the number of severe COVID cases and deaths had dropped, and no new mutant strains had been identified. The CDC also said last week critically ill COVID cases in China fell 72% from a peak early this month while daily deaths among COVID patients in hospitals dropped 79% from their peak. Reporting by Ethan Wang and Bernard Orr; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ China to scrap COVID quarantine rule for inbound travellers
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Dec 26 (Reuters) - China will stop requiring inbound travellers to go into quarantine starting from Jan. 8, the National Health Commission said on Monday in a major step towards easing curbs on its borders, which have been largely shut since 2020. Strict requirements on inbound travellers had remained in place, including five days of mandatory quarantine at a government-supervised facility and three more of isolation at home. That restriction and one on the number of passengers on international flights will be removed from Jan. 8. Travellers entering China will still have to undergo PCR testing 48 hours before departure, however, the health authority said. Reporting by Ryan Woo, Ethan Wang, Eduardo Baptista and Brenda Goh; editing by John StonestreetOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: China COVID policy: Major changes in further easing
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +3 min

Rules covering quarantine, people movement, lockdowns and testing were loosened, and other aspects of policy were also adjusted. The main changes are listed below: - High-risk areas must be accurately designated by buildings, units, floors, and households, and cannot be arbitrarily expanded to residential compounds and communities. - Mass COVID testing cannot be carried out by administrative regions. - High-risk areas without new infections for five consecutive days should be released from lockdowns in a timely manner. Those with COVID cases should precisely mark designated risk areas and ensure normal order of teaching and living outside these areas.

☆ China hopes for fair, transparent environment for companies in EU - Xi
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

[1/7] European Council President Charles Michel attends a meeting with Chinese President Xi Jinping at the Great Hall of the People in Beijing, China December 1, 2022. European Union/Handout via REUTERSBEIJING, Dec 1 (Reuters) - China will strengthen strategic communication and coordination with the European Union, President Xi Jinping told the president of the European Council, Charles Michel, on Thursday. "China will remain open to European companies, and hopes the EU can eliminate interference to provide a fair and transparent business environment for Chinese companies," Xi told Michel. Xi said China and the EU should strengthen macroeconomic policy coordination and complementary advantages, jointly create new growth engines and ensure safety, stability, and reliability of industrial supply chains. His visit comes after European leaders expressed concern at a meeting in October about economic reliance on China.

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