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☆ Why More Chinese Are Risking Danger in Southern Border Crossings to U.S.
▼ + stars: | 2023-12-03 | by ( Li Yuan | More About Li Yuan | ) www.nytimes.com time to read: +1 min

Gao Zhibin and his daughter left Beijing on Feb. 24 for a better life, a safer one. By the time they touched American soil in late March, Mr. Gao had lost 30 pounds. The most harrowing part of their journey was trekking through the brutal jungle in Panama known as the Darién Gap. Mr. Gao said he thought she might have drunk dirty water. Dragging themselves through the muddy, treacherous rainforests of the Darién Gap, they took a break every 10 minutes.

Persons: Gao Zhibin, Gao, ”, Xi, “ Organizations: Mr Locations: Beijing, Panama, China, U.S

BEIJING, Dec 1 (Reuters) - Mixed factory activity data for China in November suggests more stimulus will be needed to shore up economic growth, analysts said on Friday, as two surveys came to contrasting conclusions on the sector's health. That was the fastest expansion in three months, but stands in contrast to the official PMI which fell to 49.4 on Thursday. "At face value, the average of the two is consistent with factory activity remaining largely unchanged last month," said Sheana Yue, China economist at Capital Economics. The official and Caixin surveys have different samples, with the Caixin PMI focusing on export-oriented enterprises and small- and medium-sized enterprises in the country's coastal region. Payroll cuts in the sector persisted for the third month in the Caixin survey and a ninth month in the official PMI.

Persons: Sheana Yue, Dan Wang, Xi Jinping, Liangping Gao, Joe Cash, Jacqueline Wong, Lincoln Organizations: P Global, PMI, Capital Economics, HSBC, Hang Seng Bank, Thomson Locations: BEIJING, China, Hang Seng Bank China, Shanghai

☆ China new home prices inch up for third month in November - survey
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jason Lee/File Photo Acquire Licensing RightsBEIJING, Dec 1 (Reuters) - China's new home prices rose slightly for a third straight month in November, a private survey showed on Friday, as the crisis-hit property sector struggles to stabilise despite a slew of government support measures. Prices rose 0.05% on average from the previous month after gains of 0.07% and 0.05%, according to the survey by real estate research firm China Index Academy. Government support for the property sector in recent months has included easing curbs on home purchases and cutting mortgage costs. A Reuters poll on Wednesday found expectations for 1% growth in new home prices next year, little changed from an August poll. "Beijing is turning more proactive to stabilise growth and the new dual-track housing model may help stabilise the property sector in the coming quarters," HSBC said on Thursday.

Persons: Jason Lee, Liangping Gao, Ryan Woo, William Mallard Organizations: REUTERS, Rights, China Index Academy, Index Academy, HSBC, Thomson Locations: Beijing, China, Rights BEIJING

China has decommissioned 70.45 gigawatts (GW) of coal-fired plants in the last decade, and is building far more renewable energy capacity than any other country. Coal power makes up about 70% of emissions in China, which has committed to being carbon neutral by 2060. After 2025, it is unclear whether China will approve new coal plants. But like many cities in China's coal country, coal revenues and jobs are an incentive to keep building. Several workers in Yulin expressed little doubt about whether new coal plants make economic and environmental sense.

Persons: Li, Gao Yuhe, Xu Mingjun, China's, Xie Zhenhua, Yuheng, Duan, Colleen Howe, Ella Cao, David Stanway, Tony Munroe, Gerry Doyle Organizations: Reuters, Greenpeace, Shenhua Energy, Global Energy Monitor, Development and Research Center, Shaanxi Yulin Energy, Shaanxi Daily, Thomson Locations: YULIN, China, Yulin, Yangquan, Shanxi, Dubai, Ukraine, Canada, Shaanxi, China's, Beijing, Singapore

SummaryCompanies cpurl://apps.cp./cms/?pageId=house-poll poll dataNew home prices will likely rise in 2024Property sales, investment seen continuing to slide next yearBEIJING, Nov 29 (Reuters) - Prices of new homes in China are now expected to climb 3% this year after a slew of policy measures to support the country's beleaguered property market, up from earlier expectations for prices to be flat, a Reuters poll showed. But the poll of 11 economists, conducted Nov. 20-28, also showed expectations for 1% growth in new home prices in 2024 were little changed from an August poll. According to the poll, property investment is expected to slump 10% in 2023 and then 8.4% in 2024. Regulators are drafting a list of 50 property developers eligible for a range of financing support, including Country Garden (2007.HK) and state-backed China Vanke (000002.SZ), Bloomberg reported last week. (For other stories from the Reuters quarterly housing market polls)Reporting by Liangping Gao and Ryan Woo; Editing byOur Standards: The Thomson Reuters Trust Principles.

Persons: Huang Yu, Wang Xingping, Liangping Gao, Ryan Woo Organizations: China Index Academy, Fitch, Regulators, HK, Bloomberg, Thomson Locations: BEIJING, China

☆ China's central bank pledges to support domestic demand
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, Nov 27 (Reuters) - China's central bank on Monday said it would fend off systemic risks to the economy and use forceful and targeted monetary policy to better support domestic demand. "Prudent monetary policy should be precise and forceful, with greater emphasis on cross-cyclical and countercyclical adjustments, enriching the monetary policy toolbox," the bank said. The bank added it would "further unblock the monetary policy transmission mechanism", enhance the stability of financial support for the real economy and keep prices "reasonably stable". China's economy is gaining momentum, but it faces challenges such as an imbalanced global economic recovery and an unstable foundation for domestic economic recovery, the central bank said. "Supply and demand dynamics in the property market have greatly changed," the central bank said.

Persons: Thomas Peter, Liangping Gao, Kevin Yao, Ella Cao, Ethan Wang, Bernard Orr, Toby Chopra, Christina Fincher Organizations: Central Business District, National People's Congress, REUTERS, Rights, Thomson Locations: Beijing, China, Rights BEIJING

☆ Biden Trade Policy Breaks With Tech Giants - The New York Times
▼ + stars: | 2023-11-27 | by ( Farah Stockman | ) www.nytimes.com time to read: +3 min

“We have warned for years that either the United States would write the rules for digital trade or China would,” Senator Mike Crapo, a Republican from Idaho, lamented in a press statement. That paper explains how U.S. trade officials came to champion a digital trade policy agenda that was nearly identical to what Google, Apple and Facebook wanted: No restrictions on the flow of data across borders. No laws that would curb monopolies or encourage more competition — a position that is often cloaked in clauses prohibiting discrimination against American companies. Many smaller tech companies complain that big players engage in monopolistic behavior that should be regulated. A group of smaller tech companies called the Coalition for App Fairness thanked Ms. Tai for dropping support for the so-called tech-friendly agenda at the World Trade Organization.

Persons: Mike Crapo, Biden, Tai, Wendy Li, Ms, Li, Henry Gao Organizations: Republican, Facebook, Google, University of Wisconsin, Trump, Microsoft, Apple, Coalition, World Trade Organization Locations: China, United, Idaho, Madison, United States, Mexico, Canada, Washington, Singapore

☆ WHO questions China about a mystery illness linked to pneumonia as hospitals fill with sick children
▼ + stars: | 2023-11-25 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

The World Health Organization has requested more information from China about an illness affecting children. Reports of "undiagnosed pneumonia" in children in northern China circulated on November 21. AdvertisementThe World Health Organization (WHO) asked China for "detailed information" about a respiratory illness that's affecting children in the north of the country. The organization requested "additional epidemiologic and clinical information" following reports of "undiagnosed pneumonia" spreading among children, according to a statement released on Wednesday. Hospitals in northern China appear to be "overwhelmed with sick children," NBC News reported.

Persons: —, GAO Organizations: World Health Organization, Service, Health Organization, WHO, China Morning Post, NBC, Getty Images China, Centers for Disease Control Locations: China, Beijing

☆ What is fast fashion, and why is it so controversial?
▼ + stars: | 2023-11-24 | by ( Amaya Mcdonald | Taylor Nicioli | ) edition.cnn.com time to read: +7 min

But while cheap chic may seem like the way to go, the fast fashion industry sees clothing pushed out on a scale that is even too large for most consumers to keep up with. Why is fast fashion so popular? Fast fashion accounts for “quick designs, quick manufacturing, quick marketing, quick retailing — it doesn’t leave the time to consider these bigger needs, like ethical considerations or rights of workers,” Osnes said. “The planet is on fire, and the truth is the fashion industry aids in a percentage of that.”Is ‘sustainable fashion,’ a viable alternative? But shop responsibly… try to use your budget to buy one good quality item,” Arya said, instead of a glut of fast fashion basics.

Persons: CNN —, Preeti Arya, Vox, Shein, Jade Gao, Beth Osnes, ” Osnes, “ It’s, ”, Aja Barber, Technology’s Preeti Arya, Richard Levine, Arya, ” Arya Organizations: CNN, Fashion Institute of Technology, New York Times, Times, Shein, Getty, United Nations Environment Programme, Greenpeace, George Washington University . Apparel, University of Colorado, Fashion Institute, Technology’s, Thrift Locations: New York, United States, Paris, Zara, Singapore, China, Guangzhou, AFP, India, Bangladesh, Pakistan

[1/3] Chinese Premier Li Qiang (R) and French Foreign Minister Catherine Colonna shake hands at the Great Hall of the People in Beijing, China on November 24, 2023. Jade Gao/Pool via REUTERS Acquire Licensing RightsBEIJING/PARIS, Nov 24 (Reuters) - French Foreign Minister Catherine Colonna is set to meet the Chinese leadership in Beijing on Friday as she seeks to soothe ties after the launch of a European Union anti-subsidy probe backed by Paris into Chinese-made electric vehicles. France is also concerned about Chinese attempts to force French cosmetics companies to share manufacturing secrets with Chinese parties. Xi insisted that China welcomes investment from French firms in a telephone call on Monday with Macron, who urged fair treatment for foreign companies in China. Macron visited China in April with great fanfare, in an attempt to demonstrate France's strategic autonomy from the United States.

Persons: Li Qiang, Catherine Colonna, Jade Gao, Wang Yi, Ursula von der Leyen, Charles Michel, Xi Jinping, Emmanuel Macron, Xi, Macron, Colonna, Laurie Chen, John Irish, Raju Gopalakrishnan Organizations: French, of, People, REUTERS Acquire, Rights, European, European Commission, EU, Thomson Locations: Beijing, China, Rights BEIJING, PARIS, European Union, Paris, France, Ukraine, Iran, Gaza, North Korea, United States

☆ Northern China hospitals overwhelmed with surge in respiratory illnesses among children
▼ + stars: | 2023-11-24 | by ( Simone Mccarthy | Nectar Gan | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —Hospitals in Beijing and northern China are grappling with a surge of children with respiratory illnesses as the country enters its first winter since relaxing stringent Covid-19 controls nearly one year ago. Wait times to see doctors stretch for hours, with hundreds of patients queuing at some children’s hospitals in major cities across northern China, according to CNN reporting and Chinese state and social media. The surge in cases across northern China comes amid a rise in seasonal respiratory infections around the northern hemisphere, including in the United States, where RSV is spreading at “unprecedented” levels among children. Children receive intravenous drips at a children's hospital in Beijing on November 23, 2023. It’s unclear if there’s been an increase in respiratory illnesses or severe cases among children relative to pre-pandemic years because of limited public data released by China.

Persons: “, Jin Dongyan, ” Catherine Bennett, ” Bennett, Jade Gao, drips, ”, there’s, Jin, that’s, Christine Jenkins Organizations: Hong Kong CNN — Hospitals, CNN, Beijing Children’s Hospital, Beijing Friendship Hospital, Health, World Health Organization, WHO, Wednesday, “, University of Hong Kong’s, of Biomedical Sciences, Deakin University, Getty, Weibo, Capital Institute of Pediatrics, National Health Commission, NHC, ”, China’s, Hong Kong University, UNSW Sydney Locations: China, Hong Kong, Beijing, Tianjin, United States, Australia, AFP, Beijing’s

Children and their parents wait at an outpatient area at a hospital in Beijing on Thursday. Photo: Jade Gao/Agence France-Presse/Getty ImagesChina provided the World Health Organization with data on a pneumonia outbreak among children in the country after the agency made an unusual public request for the information—a gesture that renewed questions about Beijing’s transparency on public health. In a statement issued Wednesday, the WHO cited reports about “clusters of undiagnosed pneumonia in children in northern China,” which prompted the United Nations agency to ask Beijing for “additional epidemiologic and clinical information, as well as laboratory results” related to the infections.

Persons: Jade Gao Organizations: Agence France, Getty, World Health Organization, United Nations, Beijing Locations: Beijing, China

Children and their parents wait at an outpatient area at a hospital in Beijing on Thursday. Photo: jade gao/Agence France-Presse/Getty ImagesThe World Health Organization said it has asked China to provide more information on an outbreak of pneumonia among children in northern parts of the country, an unusual public disclosure that revives questions about Beijing’s transparency on the spread of infectious diseases. In a statement issued Wednesday, the WHO cited reports about “clusters of undiagnosed pneumonia in children in northern China,” which prompted the United Nations agency to ask Beijing for “additional epidemiologic and clinical information, as well as laboratory results” related to the infections.

Organizations: Agence France, Health Organization, United Nations, Beijing Locations: Beijing, China

☆ So many kids are falling sick in China that a children's hospital said it saw 13,000 cases in a single day
▼ + stars: | 2023-11-23 | by ( Matthew Loh | Kim Schewitz | ) www.businessinsider.com time to read: +6 min

Northern China is struggling with a wave of respiratory illnesses among its children. Cities like Beijing and Tianjin have been hit hard by cases of flu and pneumonia, hospitals said. Children wait on the stairs at a children hospital in Beijing on November 23, 2023, with some administered with drips. "All the children have respiratory illnesses." Children receive a drip at a children hospital in Beijing on November 23, 2023.

Persons: —, Liu Wei, Liu, imploring, JADE GAO, Mi Feng, they're, It's, JADE GAOJADE, Hu Xijin, Hu, David Heymann, Francois Balloux Organizations: Service, Beijing Aviation General, Management, drips, Getty, Changjiang, Health, Business, Global Times, Health Organization, London School of Hygiene, Tropical Medicine, UCL Genetics Institute Locations: Northern China, Cities, Beijing, Tianjin, China, Tianjian, Wuhan, Hubei, Chongqing, Weibo

☆ China says Philippines enlists foreign force to stir trouble in South China Sea
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +3 min

The Chinese military will maintain high vigilance, resolutely defend sovereignty and maritime rights and interests, and resolutely safeguard peace and stability in the South China Sea, China's military said. "The Philippines enlisted forces out of the region to patrol ... stirred up trouble and engaged in hype, undermining regional peace and stability," the southern theatre command of the Chinese military said. Relations have soured between China and the Philippines over the South China Sea under Philippine President Ferdinand Marcos Jr as he pivots towards closer ties with the U.S., which supports the Southeast Asian nation in its maritime disputes with China. A Chinese foreign ministry spokesperson said on Wednesday China had warned the U.S. and the Philippines in connection with their patrols. A Chinese navy ship shadowed three U.S. and Philippine warships conducting joint patrols on Thursday, the Philippine armed forces chief, Romeo Brawner, told reporters.

Persons: Carlos Dominguez, Gao Hucheng, Damir Sagolj, Ferdinand Marcos Jr, Mao Ning, Romeo Brawner, Brawner, Ella Cao, Bernard Orr, Liz Lee, Neil Jerome Morales, Edmund Klamann, Robert Birsel Organizations: Philippine, China's, REUTERS, U.S, Philippines, U.S ., Relations, South China, China, Philippine -, Thomson Locations: Beijing, China, Philippines, BEIJING, MANILA, Philippine, U.S, South China, Taiwan, South, Palawan, United States, Manila

☆ FAA Clears Boeing 737 Max 10 Jet for Test Flights
▼ + stars: | 2023-11-22 | by ( Sharon Terlep | ) www.wsj.com time to read: 1 min

A Boeing 737-10 aircraft flying during the 54th International Paris Air Show near Paris, France, last June. Photo: Gao Jing/Zuma PressU.S. air-safety regulators cleared Boeing to begin key flight tests on its 737 MAX 10 jet, a milestone toward preparing the plane for commercial service. The airborne checks are a preliminary validation for Boeing by the Federal Aviation Administration and put the company on track for its first deliveries next year.

Persons: Gao Jing Organizations: Boeing, International Paris Air, Zuma Press U.S, Federal Aviation Administration Locations: Paris, France

As Open AI employees celebrated the return of CEO Sam Altman with a five-alarm office party , OpenAI software engineer Steven Heidel was busy publicly rebuffing overtures from Salesforce CEO Marc Benioff. Heidel was one of more than 700 OpenAI employees who's threatened exodus halted a would-be mutiny at one of Silicon Valley's most important AI companies. He was previously a scientist at Facebook AI Research and worked as a member of Google Brain under supervision of Prof. Geoffrey Hinton and Ilya Sutskever. Alec Radford: Radford was hired in 2016 from a small AI company he founded in his dorm room. Tao Xu : technical staff, worked on GPT4 and WhisperChristine McLeavey : technical staff, with contributions to music-related productsChristina Kim : technical staffChristopher Hesse : technical staffHeewoo Jun : technical staff, researchAlex Nichol : technical staff, researchWilliam Fedus: technical staff, researchIlge Akkaya: technical staff, researchVineet Kosaraju : technical staff, researchHenrique Ponde de Oliveira Pinto : technical staffAditya Ramesh : technical staff, developed DALL-E and DALL-E 2Prafulla Dhariwal : research scientistHunter Lightman : technical staffHarrison Edwards : research scientistYura Burda : machine language researcherTyna Eloundou : technical staff, researchPamela Mishkin : researcherCasey Chu : researcherDavid Dohan : technical staff, researchAidan Clark : researcherRaul Puri : research scientistLeo Gao : technical staff, researchYang Song : technical staff, researchGiambattista ParascandoloTodor Markov : Machine learning researcherNick Ryder : technical staff

Persons: Sam Altman, Steven Heidel, Marc Benioff, Heidel, Altman, Mira Murati, Murati, Brad Lightcap, Lightcap, Jason Kwon, Kwon, Wojciech Zaremba, Geoffrey Hinton, Ilya Sutskever, Alec Radford, Radford, OpenAI, Peter Welinder, He's, Github Copilot, Anna Makanju, Andrej Karpathy, OpenAI's, Michael Petrov, Petrov, Greg [ Brockman, Miles Brundage, Brundage, John Schulman OpenAI, Srinivas Narayanan, Scott Grey, Grey, Bob McGrew, Research Che Chang, Lillian Weng, Safety Systems Mark Chen, Frontiers Research Barret Zoph, Peter Deng, Jan Leike Evan Morikawa Steven Heidel Jong Wook Kim, Tao Xu, Christine McLeavey, Christina Kim, Christopher Hesse, Heewoo, Alex Nichol, William Fedus, Henrique Ponde de Oliveira Pinto, Aditya Ramesh, Hunter Lightman, Harrison Edwards, Yura, Tyna, Pamela Mishkin, Casey Chu, David Dohan, Aidan Clark, Raul Puri, Leo Gao, Yang, Giambattista Parascandolo Todor Markov, Nick Ryder Organizations: Business, BI, OpenAI, Khosla Ventures, Facebook, Research, Google, Tesla, U.S . Department of Energy, Oxford University, Safety Systems, Frontiers Research Locations: Albania, Canada, OpenAI

New home prices in October dropped 0.3% month-on-month after a 0.2% dip in September, according to Reuters calculations based on National Bureau of Statistics (NBS) data. Once a key engine of economic growth accounting for around a quarter of China's economic activity, a regulatory crackdown since 2020 to curb debt has tightened liquidity and raised default risks for developers, delaying many projects. Out of 70 cities, 56 reported declines in monthly prices last month, marking the most cities number since October 2020, up from 54 in September. TWIST AND TURNSHouse prices in three major cities Beijing, Shenzhen and Guangzhou all fell month-on-month in October. For existing home, NBS data showed 67 cities posted month-on-month price declines in October, up from 65 in September.

Persons: Ma Hong, Ma, Liu Aihua, Zhang Dawei, Zhang, Liangping Gao, Ella Cao, Ryan Woo, Jacqueline Wong Organizations: National Bureau of Statistics, Authorities, Zhixin Investment Research Institute, Nomura, HK, Thomson Locations: BEIJING, Beijing, Shenzhen, Guangzhou

“Planet Earth is big enough for the two countries to succeed,” Xi told Biden. Before leaving for California, Kishida told reporters a meeting with Xi had not yet been decided on. The aura of goodwill generated by the meeting was marred somewhat, however, by a comment by Biden. “I feel that China-U.S. relations have eased, and maybe the next step will be cooperation,” said Xu Jiaguang a 31-year-old firefighter. ___Associated Press writer Mari Yamaguchi in Tokyo and video producer Caroline Chen in Beijing contributed to this report.

Persons: Joe Biden, Xi, lunching, they’re, ” Xi, Biden, ”, Jeff Liu, Fumio Kishida, Kishida, Madoka Fukuda, ” Biden, Mao Ning, Xu Jiaguang, Gao Kexin, Mari Yamaguchi, Caroline Chen Organizations: Foreign, South, . Security, Samsung Electronics, SK Hynix, Kookmin Ilbo, Economic Cooperation, Communist Party . Tokyo, Tokyo's Hosei University, Foreign Ministry, China -, U.S, Associated Press Locations: TAIPEI, Taiwan, California, China, Beijing, U.S, Taiwan Strait, North Korea, Seoul, Pyongyang, Russia, South Korea, Japan, Asia, San Francisco, United States, China - U.S, Tokyo

☆ China's property sales extend declines, weighing on outlook
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Property sales by floor area fell 20.33% year-on-year against a 19.77% fall in September, according to Reuters calculations based on data released by the National Bureau of Statistics (NBS). Sales fell 7.8% year-on-year in January-October, compared with a 7.5% slide in the first nine months of 2023. Property investment fell 16.7% from a year earlier after an 18.7% slide in September, according to Reuters calculations. New construction starts measured by floor area fell 23.2% year-on-year, after a 23.4% slump in the first nine months. Funds raised by China's property developers were down 13.8% year-on-year after a 13.5% fall in January-September.

Persons: Thomas Peter, Ping, Liangping Gao, Ella Cao, Ryan Woo, Sam Holmes Organizations: REUTERS, Rights, National Bureau of Statistics, Authorities, Bloomberg, Reuters, HK, Ping An Insurance, Thomson Locations: Zhengzhou, Henan province, China, Rights BEIJING

[1/2] FILE PHOTO: Robotic arms assemble cars in the production line for Leapmotor's electric vehicles at a factory in Jinhua, Zhejiang province, China, April 26, 2023. Retail sales, a gauge of consumption, rose 7.6% in October, quickening from a 5.5% gain in September and hitting the fastest growth since May. Analysts had expected retail sales to grow 7.0% due to the low base effect in 2022 when COVID curbs disrupted consumers and businesses. The PBOC has cut banks' reserve requirement ratio (RRR) twice this year to free up liquidity to aid the economic recovery. Fixed asset investment expanded 2.9% in the first 10 months from the same period a year earlier, versus expectations for a 3.1% rise.

Persons: Xing Zhaopeng, Albee Zhang, Liangping Gao, Shri Navaratnam Organizations: REUTERS, Rights, National Bureau of Statistics, Analysts, ANZ, People's Bank of China, Bloomberg, Thomson Locations: Jinhua, Zhejiang province, China, Rights BEIJING, quickening

☆ China's Jan-Oct property sales fell 7.8% y/y, investment down 9.3%
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, Nov 15 (Reuters) - Property sales by floor area in China fell 7.8% year-on-year in January-October, compared with a 7.5% slide in the first nine months of 2023, suggesting China's property sector is yet to emerge from its slump. Property investment in the first 10 months of 2023 fell 9.3% from a year earlier, after dropping 9.1% in January-September, according to data from the National Bureau of Statistics (NBS) released on Wednesday. New construction starts measured by floor area fell 23.2% year-on-year, after a 23.4% slump in the first nine months. Funds raised by China's property developers were down 13.8% year-on-year after a 13.5% fall in January-September. (This story has been corrected to change sales fall percentage to 7.8%, from 6.8%, in the headline and paragraph 1)Reporting by Liangping Gao, Ella Cao and Ryan Woo; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Peter, Liangping Gao, Ella Cao, Ryan Woo, Sam Holmes Organizations: REUTERS, Rights, National Bureau of Statistics, Thomson Locations: Zhengzhou, Henan province, China, Rights BEIJING

☆ China's richest nepo babies look set to inherit $120 billion
▼ + stars: | 2023-11-15 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. All aged under 40, Chinese heirs from at least 11 families will soon have control of wealth worth an estimated $120 billion, according to the Bloomberg Billionaires Index. AdvertisementNongfu Spring is China's biggest water company. Future Publishing/Getty ImagesThe company, worth just over half a trillion dollars, is China's biggest bottled water producer. These billionaire nepo babies are standing by to reap the benefits of China's an almost uninterrupted wealth boom over the past four decades.

Persons: —, Zhong Shu Zi, Zhong, Gao Haichun, nepo, it's Organizations: Service, Billionaire, Bloomberg, University of California, Future Publishing, Brown University, McKinsey, Global Locations: China, Irvine

☆ Philippines denounces China for 'unprovoked acts of coercion' to block resupply mission
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Damir Sagolj/File Photo Acquire Licensing RightsMANILA/BEIJING, Nov 10 (Reuters) - The Philippines on Friday condemned China's coast guard for "unprovoked acts of coercion and dangerous manoeuvres," including its use of a water cannon against one of its boats in an attempt to disrupt a resupply mission in the South China Sea. China's coast guard said two small Philippine transport ships and three coast guard ships entered the waters without the permission of the Chinese government and urged the Philippines to stop infringing on Beijing's sovereignty. Japanese Prime Minister Fumio Kishida said during his visit to Manila on Saturday that his country, the Philippines and the United States were cooperating to protect the freedom of the South China Sea. China's use of water cannons followed a series of incidents in the South China Sea, including the collisions between China's vessels and two Manila ships on Oct. 22. The Philippines accused China coastguard of "intentionally" colliding with its vessels.

Persons: Carlos Dominguez, Gao Hucheng, Damir Sagolj, Thomas, Thomas Shoal, Wang Wenbin, Fumio Kishida, Neil Jerome Morales, Bernard Orr, Christopher Cushing, Gerry Doyle, Christina Fincher Organizations: Philippine, China's, REUTERS, South China, Official Development, China coastguard, Beijing, Thomson Locations: Beijing, China, MANILA, BEIJING, Philippines, China's, South China, South, Manila, Ayungin, Philippine, Thomas Shoal, United States, Japan, Japanese, Washington, Hague

☆ China's consumer prices dip back into decline amid limp demand
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +3 min

BEIJING, Nov 9 (Reuters) - China's consumer prices swung back into contraction and factory-gate deflation persisted in October as domestic demand struggled, weighing on the outlook for any broader-based recovery in the world's second-largest economy. The headline figure was dragged by a further slump in pork prices, down 30.1%, speeding up from a 22% slide in September, amid an oversupply of pigs and weak demand. Consumer prices slipped into deflation in July and returned to positive territory in August but were flat in September. "The data shows combating persistent disinflation amid weak demand remains a challenge for Chinese policymakers," said Bruce Pang, chief economist at Jones Lang Lasalle. "We expect China's economy to grow by 5.0% in 2023, in accordance with the target set by authorities, followed by 4.0% growth in 2024 and 2025," said Moody's on Thursday.

Persons: China's, Bruce Pang, Jones Lang Lasalle, Gao, Ella Cao, Ryan Woo, Sam Holmes Organizations: National Bureau of Statistics, Jones, Authorities, Thomson Locations: BEIJING, China, Beijing, West

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