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

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

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

Hanoi, Vietnam CNN —President Joe Biden will arrive at Chinese leader Xi Jinping’s doorstep on Sunday with a deal in hand to draw yet another one of China’s neighbors closer to the United States. “It’s not going to be easy for Vietnam, because they’re under enormous pressure from China,” the official went on. In Vietnam, it’s not only China whose influence Biden is competing with. On Monday, Biden plans to announce steps to help Vietnam diversify away from an over-reliance on Russian arms, a senior administration official said. “I think that’s a deliberate design by the Biden administration,” said Yun Sun, the China program director at the Stimson Center.

Persons: Joe Biden, Xi Jinping’s, Biden, ”, It’s, playbook, Xi Jinping, Evelyn Hockstein, ” Biden, Modi, Xi, States ’, it’s, ratchets, aggressions, Didier Marti, “ We’re, “, Biden’s, Mao Ning, Vietnam’s, Antony J, Blinken, Trung, Patricia Kim, Le Hoai, Jake Sullivan, Sullivan, ” –, General Secreatary Nguyen, Trong, Yun Sun, ’ Organizations: Vietnam CNN, White House, Korean, Getty, Saturday, Communist Party, Xinhua, China’s, Monday, Communist Party of Vietnam's, Department of State . US Department of State, Biden, Brookings Institution, Communist, NATO, Wing, Stimson Locations: Hanoi, Vietnam, United States, Philippines, China, Beijing, New Delhi, AFP, Asia, States, Russia, Moscow, India, Brazil, South Africa, –, That’s, South China, Washington, South Korea, Helsinki, Japan, Korea, Australia, United Kingdom

BANGKOK (AP) — One of Myanmar’s biggest and most powerful ethnic minority militias has arrested and repatriated more than 1,200 Chinese nationals allegedly involved in criminal online scam operations, an official of the group said Saturday. The arrests were carried out in territory controlled by the United Wa State Army, or UWSA, in eastern Shan state in raids on Tuesday and Wednesday, Nyi Rang, a liaison officer from the militia, told The Associated Press. The United Wa State Army is the biggest and strongest ethnic armed organization among the major ethnic minority groups in Myanmar, with an army of approximately 30,000 well-equipped soldiers and sophisticated weaponry including heavy artillery and helicopters, from China, with which it maintains close relations. The U.N. report about Southeast Asian cybercrime said the online fraud gangs were also active in southeastern Kayin state on the Thai border. The complexes were developed by Chinese investors in cooperation with the local Border Guard Forces, which are militias affiliated with Myanmar’s army.

Persons: Nyi Rang, —, Wa, Aung, Suu Kyi, Chen Hai, cybercrime, Shwe Kokko Organizations: Myanmar’s, United Wa State Army, Associated Press, Human Rights, United Wa State Party, Beijing’s Ministry of Public Security, Foreign, Border Guard Forces Locations: BANGKOK, Shan, Wa, Yunnan province, Asia, Southeast Asia, Myanmar, Cambodia, Kayin, Mong, China, Thailand, Suu, Thai, Shwe, Myawaddy

☆ Singapore braces for 'partisan' vote for president, guardian of its vast reserves
▼ + stars: | 2023-08-30 | by ( Clement Tan | ) www.cnbc.com time to read: +8 min

Presidential candidate Tan Kin Lian (left) waves as he arrives at the nomination center for the presidential election in Singapore on August 22, 2023. Song is standing in the city-state's 2023 presidential election. Presidential candidate Tharman Shanmugaratnam waves to his supporters at the nomination center for the upcoming presidential election in Singapore on Aug. 22, 2023. Xinhua News Agency | Xinhua News Agency | Getty ImagesThe full scale of Singapore's reserves is not publicly available, though public information of some institutions charged with investing its reserves offer a glimpse into the size of the reserves. Local independent news outlet Jom estimated that only 0.044% of Singaporean adults qualify to run as Singapore president.

Persons: —, incorruptibility, Eugene Tan, Tan Kin Lian, Roslan Rahman, Tan, Ng Kok, Lee Kuan Yew, Tharman, Ng, Shanmugaratnam, Tan Meng, Singapore's, Lee Kuan, Kevin Tan, Cherian, Halimah Yacob —, Cherian George, who's Organizations: Getty, SINGAPORE, Observers, Singapore Management University, NTUC, Afp, Monetary Fund, Party, CNBC, Bloomberg, Presidential Advisors, Xinhua News Agency, Temasek, Singapore, Monetary Authority of, Cherian George National University of Singapore, Hong Kong Baptist University, Malay, National University of Singapore, Hong, Hong Kong Baptist University's School of Communication Locations: Singapore's Marina Bay, Singapore, State, Monetary Authority of Singapore, Hong, Hong Kong

☆ China bill aims to make preschool more accessible amid flagging birth rate
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

The draft Preschool Education Law includes measures to curb excessive profit-seeking by preschool providers, the state-backed China news service reported. Children applying for preschool places should not be subject "to any form of examination or testing except for necessary physical examinations," the official Xinhua news agency reported. The draft law comes as China's fertility rate is estimated to have dropped to a record low of 1.09 in 2022, one of the world's lowest alongside South Korea, Taiwan, Hong Kong and Singapore. Concerned about its rapidly ageing population, Beijing is urgently trying an array of measures to lift the birth rate, including financial incentives and improved childcare facilities. The draft preschool law will now be reviewed by the National People's Congress Standing Committee.

Persons: Huai Jinpeng, Farah Master, Conor Humphries Organizations: Xinhua, of, South, National, Thomson Locations: Xujiashan, Haitang, Liangshan Yi Autonomous Prefecture, Sichuan province, China, HONG KONG, South Korea, Taiwan, Hong Kong, Singapore, Beijing

☆ China approves guidelines to boost affordable housing amid property debt crisis
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

The Chinese property sector is in a deepening crisis with a rising risk of default among some developers as they struggle to sell apartments and raise funds. Separately, China's central bank announced guidance on relaxing residential housing loan rules, in a move aimed at boosting loan applications and house purchases. The central bank also said it would stick to the principle that houses are for living in and not vehicles for speculation. On Friday, the housing ministry, the central bank and the national financial regulator also jointly issued a notice easing mortgage policies to help revive the sector. China's housing market has over the past two years been grappling with a severe debt crisis - initially triggered by government moves to rein in ballooning debt.

Persons: Thomas Peter, Premier Li Qiang, Ellen Zhang, Ryan Woo, John Stonestreet, Susan Fenton, Hugh Lawson Organizations: REUTERS, Rights, Premier, Xinhua, People's Bank of, Ministry of Housing, Thomson Locations: Beijing, China, Rights BEIJING, People's Bank of China

Marco Longari/Pool via REUTERS Acquire Licensing RightsJOHANNESBURG, Aug 24 (Reuters) - Indian Prime Minister Narendra Modi spoke to China's President Xi Jinping on the sidelines of the BRICS summit in Johannesburg and highlighted concerns India has about border issues along the Line of Actual Control (LAC), India's foreign secretary said. Modi and Xi agreed "to direct their relevant officials to intensify efforts at expeditious disengagement and de-escalation," Foreign Secretary Vinay Kwatra said. On the sidelines of the BRICS summit Modi highlighted to Xi "India's concerns on the unresolved issues along the LAC", Kwatra said. This is the first time that Modi has brought up the issue directly with Xi, repeating India's stand that has been shared with China through other ministers multiple times. "The two sides should bear in mind the overall interests of their bilateral relations and handle properly the border issue so as to jointly safeguard peace and tranquillity in the border region," Xi said.

Persons: India Narendra Modi, Cyril Ramaphosa, China Xi Jinping, Marco Longari, Narendra Modi, Xi Jinping, Modi, Xi, Vinay Kwatra, Kwatra, Bhargav Acharya, Tannur Anders, Michael Martina, Krishn Kaushik, Jonathan Oatis Organizations: REUTERS Acquire, Rights, Indian, LAC, Xinhua, Shanghai Cooperation, Thomson Locations: India, China, Sandton, Johannesburg, Rights JOHANNESBURG, Indonesia

China operates talent programs at various levels of government, targeting a mix of overseas Chinese and foreign experts. China has previously said its overseas recruitment through the TTP aimed to build an innovation-driven economy and promote talent mobility, while respecting intellectual property rights, according to the state-run Xinhua news agency. It said that anyone who recommends a candidate who is then selected for the talent programs would receive "diamonds, bags, cars, and houses". In some cases, these people said, those experts will be offered roles at Chinese chip companies' overseas operations. ($1 = 7.1475 Chinese yuan renminbi)Reporting by Julie Zhu, Fanny Potkin, Eduardo Baptista and Michael Martina; editing by David CrawshawOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Xi Jinping, Qiming, Dean Boyd, Nick Marro, Chen Biaohua, Chen, Ma Yuanxiao, Dawei Di, Di, Zhuji, Julie Zhu, Fanny Potkin, Eduardo Baptista, Michael Martina, David Crawshaw Organizations: REUTERS, Washington, Reuters, China, Ministry of Industry, Information Technology, U.S . Commerce Department, Xinhua, Ministry of Science, Technology, U.S, government's National Counterintelligence and Security Center, Economist Intelligence, China Center for Information Industry Development, China Semiconductor Industry Association, Qiming, Massachusetts Institute of Technology, Harvard, Stanford, HK, LinkedIn, Hangzhou Juqi Technology, Fortune, Beijing Institute of Technology, BIT's School of Integrated Circuits, Electronics, Britain's University of Nottingham, University of Hong, BIT, Communist Party's Organization Department, Zhejiang University, Communist Party, Thomson Locations: China, HONG KONG, SINGAPORE, WASHINGTON, U.S, China's, Qiming, Beijing, Hangzhou, ResearchGate, University of Hong Kong, Ma, Zhejiang, Wenzhou, Cambridge

☆ China Stocks Slump as Economic Gloom Spreads
▼ + stars: | 2023-08-16 | by ( Vivek Shankar | More About Vivek Shankar | ) www.nytimes.com time to read: +1 min

The economic troubles, they said, arose from flagging domestic demand and a “grim and complex” global economy, among other factors. Chinese stocks jumped at the time, even though officials laid out only vague plans, like using “countercyclical” regulations, adjusting policies for the troubled real estate sector, and prodding people to buy cars, electronics and household goods. Since then, China has released a string of worrying economic data. Prices consumers and business pay are falling, raising the threat of deflation. Retail sales and industrial production in July missed economists’ expectations, and investment in real estate is plunging.

Persons: Xi Jinping Organizations: Xinhua Locations: China

☆ China wants to keep Russia in a 'Goldilocks' state — not too strong and not too weak
▼ + stars: | 2023-08-14 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +5 min

Some analysts have likened the relationship to the tale of "Goldilocks" in which a middle ground is sought, with China wanting its ally Russia to not be either too strong, where it could challenge Beijing, nor too weak where it leaves China ideologically isolated against the West. It could also be seen to embolden the West and cause political instability in Russia, essentially China's backyard. "China, like many Europeans, will also want to avoid a total collapse of Russia, with the nuclear proliferation risks that might pose. China is seen by international observers as being one of the few countries that could exert its influence on Russia in bringing about an end to the war in Ukraine. "There is no way actually for China to make Russia stronger without jeopardizing Chinese interests," he told CNBC.

Persons: Xi Jinping, Vladimir Putin, Alexei Druzhinin, Etienne Soula, Soula, Xie Huanchi Organizations: AFP, Getty, U.S ., Beijing, Alliance, Democracy, German Marshall Fund of, CNBC, Russia, Xinhua News Agency, Research Locations: Russia, U.S, Beijing, Moscow, Ukraine, China, United States, Asia, Kyiv

BEIJING, Aug 13 (Reuters) - The death toll from a mudslide last week in China's northwestern Shaanxi province has risen to four, state radio said on Sunday, as the country grapples with unusually high summer rainfall. TYPHOON WEAKENSMeanwhile, Typhoon Khanun weakened into a tropical depression when it made landfall in China's Liaoning province on Friday night. Overnight rainfall in Liaoning peaked at 52 millimetres (2 inches) per hour, with four reservoirs exceeding flood limits, CCTV said. A video posted by state media People's Daily showed thick swirling clouds hanging low above the ground, darkening the sky. Reporting by Andrew Hayley and Ethan Wang; Editing by Raju Gopalakrishnan and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Typhoon Khanun, Khanun, Doksuri, Andrew Hayley, Ethan Wang, Raju Gopalakrishnan, Jamie Freed Organizations: China Central Television, Xinhua, Liaoning province's Anshan, Flood, Drought, Ministry of Emergency Management, CCTV, Thomson Locations: BEIJING, China's, Shaanxi, Xian, China's Liaoning, Liaoning, Tianjin, Chongqing, China, Xinjiang

☆ China asks Philippines to jointly work on defusing South China Sea tensions
▼ + stars: | 2023-08-12 | by ( ) www.cnbc.com time to read: +1 min

Chinese Foreign Minister Wang Yi urged the Philippines to work with China to seek an effective way to defuse tensions in the South China Sea, the official Xinhua news agency said on Saturday. The comments come amid rising tensions between the two countries over the location of a grounded warship that serves as a military outpost in the South China Sea. The comments were made by Wang during a visit to Singapore and Malaysia which took place on Thursday and Friday, said Xinhua. The Philippines won an international arbitration award in 2016 against China's claim over almost all of the South China Sea, after a tribunal ruled Beijing's sweeping claim had no legal basis, including at the Second Thomas Shoal. China, which does not recognize the ruling, has built militarized, man-made islands in the South China Sea and its claim of historic sovereignty overlaps with the EEZs of the Philippines, Vietnam, Malaysia, Brunei and Indonesia.

Persons: Wang Yi, Wang, Thomas Organizations: Xinhua, Philippines, China's Locations: Philippines, China, South China, Singapore, Malaysia, Xinhua, Philippine, Sierra, Thomas Shoal . China, South, Vietnam, Brunei, Indonesia

☆ Floods, mudslides kill two in northwestern China city
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: +2 min

The Qinling Mountains in Xian will continue to experience extreme weather conditions, which will lead to soil erosion and possibly further mudslides, the broadcaster said. A man holding a child walks across a damaged bridge after the rains and floods brought by remnants of Typhoon Doksuri, in Zhuozhou, Hebei province, China August 7, 2023. In southwestern Guangxi on Friday, heavy rainfall in the city of Nanning led to urban flooding, forcing rush hour commuters to drive vehicles and motorcycles through waterlogged roads, CCTV said. Local authorities set up cordons to allow drainage work on some roads, while the city dispatched nearly 3,900 police to help. In Huozhou city in the northern province of Shanxi, some low-lying houses faced stagnant water breaches, as floods from heavy rain trapped some residents in their buildings, the broadcaster said.

Persons: Xian, Doksuri, Tingshu Wang, Engen Tham, Miral Organizations: China Central Television, REUTERS, Local, Xinhua News Agency, Thomson Locations: Nanning, Beijing, Harbin SHANGHAI, China, Fujian, Xian, Zhuozhou, Hebei province, Harbin, Guangxi, Jilin, Huozhou, Shanxi, Mongolia

Feeling the pinch of rising housing costs and a slowing economy, the jobless graduates are forfeiting cities that have traditionally provided a stepping stone to middle-class wealth. The numbers varied by region, with 59% of graduates in the well-developed east heading home. To keep costs down as they stay longer in hope of finding a job, some young mega-city drifters even share their beds with strangers. One such post was looking for a roommate to share one bed in a room "with a huge balcony" in Beijing. ($1 = 7.2004 Chinese yuan renminbi)Reporting by Ella Cao and Ryan Woo; Additional reporting by Beijing newsroom; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Stringer CHINA, Joyce Zhang, I've, Zhang, China's, Ella Cao, Ryan Woo, Conor Humphries Organizations: Central China Normal University, REUTERS, China News Service, China's, Xinhua, Reuters, Beijing, Thomson Locations: Wuhan, Hubei province, China, BEIJING, Beijing, Guangzhou, Shenzhen, Inner Mongolia, Hangzhou, Zhejiang

☆ China warns of crop, animal disease outbreaks in flood-hit areas
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Josh Arslan/File PhotoBEIJING, Aug 9 (Reuters) - Northern China warned of crop and animal diseases breaking out as flood waters retreated from rural areas, while some cities struggled to restore drinking water supplies after the worst flooding in six decades. Local authorities must step up measures to prevent and control major disease outbreaks caused by dead animals, pests and insects, Agriculture Minister Tang Renjian said after an inspection of affected areas on Tuesday. In Zhuozhou, the worst-hit city in Hebei, workers in hazmat suits sprayed disinfectant in built-up areas to prevent the spread of disease, state-run Xinhua news agency reported. The Water Resources ministry has declared an emergency response to quickly restore drinking water supplies, including setting up supply points and dispatching water trucks. Even in Beijing, where at least 33 people have died in the floods, a team of nearly 600 people were "racing against time" to restore water supplies in a rural district.

Persons: Doksuri, Josh Arslan, Tang Renjian, Tang, Liz Lee, Ryan Woo, Miral Organizations: REUTERS, Agriculture, Xinhua, Water Resources, Thomson Locations: Zhuozhou, Hebei province, China, BEIJING, Northern China, Hebei, Beijing, Farms, Shijiazhuang, Shanghai

☆ India's rice export ban to hurt millions globally. These countries will be the worst hit
▼ + stars: | 2023-08-02 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +5 min

20 Xinhua News Agency | Xinhua News Agency | Getty ImagesIndia's rice export ban could ripple across global rice markets — and millions are expected to be impacted, with Asian and African consumers set to bear the biggest brunt. The scale of people impacted by Indian rice ban will be in millions. Other affected regionsAsia is not the only region hit by India's rice export ban, many African and Middle East nations are also vulnerable. That means up to 40% of India's rice exports are now offline, according to BMI forecasts. India's rice export ban is expected to ripple across global rice markets.

Persons: Mohanty, Samarendu Mohanty, Narendra Modi Organizations: Xinhua News Agency, Getty, Barclays, El Nino, BMI, Fitch Solutions, Workers, International Potato Center, CIP Locations: Nagaon district, India's, Assam, India, Malaysia, Asia, Singapore, Thailand, Pakistan, Vietnam, Philippines, Saharan Africa, East, North Africa, Djibouti, Liberia, Qatar, Gambia, Kuwait, Cambodia, Indonesia, Bangladesh, Nepal

In his address, Xi said the military must broaden its combat capability and readiness, the official Xinhua news agency reported. "We need to push for new equipment and new forces to accelerate forming combat capabilities and integrate into the combat system," Xi told the Peoples Liberation Army Air Force's western theatre command during a visit last Wednesday, Xinhua reported on Sunday. Marking the anniversary on Tuesday, an editorial in the official PLA Daily newspaper said the military had "enhanced its ability to carry out diversified military tasks in a wider space". "When the Chinese military conducts an exercise, it is showing force - it is bestowing or sending a message to other countries," he said. At sea, China is readying its aircraft carriers to extend and assert its power beyond its home waters.

Persons: Xi Jinping, Florence, HONG KONG, Xi, Song Zhongping, Drew Thompson, National University of Singapore's Lee, Thompson, Tsai Ing, Kevin McCarthy, China's J, Shi Yunjia, Greg Torode, Albee Zhang Organizations: Communist Party of China, Military Museum of, REUTERS, People's Liberation Army, PLA, Xinhua, Peoples Liberation Army Air, PLA Daily, National University of Singapore's, National University of Singapore's Lee Kuan Yew, of Public, Reuters, People's, of Army, U.S, House, China Morning Post, Western, Thomson Locations: Beijing, China, HONG, Tuesday's, Russia, United States, U.S, Washington, Taiwan, Japan, Shandong, Fujian, South Korea, Guam

☆ Typhoon Doksuri and Khanun: Thousands in China flee homes as one soaks Beijing and the second approaches Typhoon Doksuri lashes Beijing and floods parts of China, while another storm approaches
▼ + stars: | 2023-07-31 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +6 min

A civilian rescue team help flood-stranded people onto a rubber boat in Quanzhou in southeast China's Fujian province on July 29, 2023. Even as Doksuri tapers off, authorities are preparing for incoming Khanun, the sixth typhoon projected to hit China this year. This weekend, a total of 1,015 people suffered heat-related diseases, which the KDCA defines as heat stroke, heat exhaustion, heat cramps, heat syncope and heat edema. The city of Gyeongju saw temperatures reach 36.8 degrees Celsius (98.24 Fahrenheit) and Jeongseon county saw temperatures reach 36.1 Celsius (96.98 Fahrenheit), according to the Korea Meteorological Administration. Seoul’s affluent Gangnam district saw temperatures reach to 35.7 degrees Celsius (around 96.2 Fahrenheit), while North Gyeongsang Province saw temperatures reach 38.1 degrees Celsius (100.58 degrees Fahrenheit).

Persons: Doksuri, hurtled, Saomi, Rita, Khanun Organizations: CNN, CCTV, Xinhua, China Meteorological Administration, Xinhua News Agency, Getty, CNN Weather, Joint Typhoon Warning, South Korea swelters, Korea Disease Control, Prevention Agency, Korea Meteorological Administration Locations: Beijing, China, Fujian, Liaoning, Hebei, Quanzhou, China's Fujian, Philippines, Taiwan, Zaozhuang, China's Shandong, Zhejiang, Okinawa, East, Naha, Miyako, Asia Asia, South Korea, Korea, Gyeongju, Jeongseon, Gangnam, North Gyeongsang Province

☆ New Covid vaccines are coming to the U.S. this fall, but uptake may be low — Here’s why
▼ + stars: | 2023-07-29 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +7 min

Regardless of that shift, experts say vaccine uptake may not look much different from that of the bivalent boosters. Pandemic fatigue, confusionFatigue over the pandemic and the general belief that Covid is "over" could potentially hinder the uptake of new shots this fall, experts said. Ipsos and Axios released a survey with similar findings in May, the same month the U.S. ended the national Covid public health emergency amid a downward trend in cases, hospitalizations and deaths. "That contrasts with what we've seen in the past where there are different vaccines, different timing, different age groups and something new to consider every few months." Advisors to the FDA have raised concerns about shifting to yearly Covid vaccines, noting that it's unclear if the virus is seasonal like the flu.

Persons: Antonio Perez, Axios, isn't, Dr, Kartik Cherabuddi, Brad Pollock, Pollock, they're, Ashley McGee, Justin Sullivan, CDC hasn't, Covid, KFF's Kates, Michael Nagle, Kates, we've Organizations: Chicago CVS, Tribune, Service, Getty Images Pfizer, Moderna, Pfizer, Gallup, University of Florida, CNBC, UC Davis Health's, Safeway, CDC, Food and Drug Administration, Health, Human Services Department, FDA, Xinhua News Agency, Getty Locations: Chicago, U.S, San Rafael , California, New York, 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

☆ Chinese court begins appeal trial for Canadian pop star Kris Wu
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 25 (Reuters) - A court in the Chinese capital on Tuesday commenced the appeal trial for Canadian pop star Kris Wu, according to state-run Xinhua news agency, after he was sentenced to 13 years in jail in 2022 for crimes including rape. The trial was not open to the public to protect the privacy of the victims, Xinhua cited the Beijing No. 3 Intermediate People's Court as saying. The Canadian embassy in Beijing had been notified of the appeal trial before the hearing, Xinhua reported. In November last year, the People's Court of Chaoyang, a district in Beijing, said Chinese-born Wu would be deported after serving his prison term.

Persons: Kris Wu, Wu, Xander Cage, Ryan Woo, Laurie Chen, Jonathan Oatis Organizations: Xinhua, Court, Canadian, Hollywood, Thomson Locations: BEIJING, Beijing, Chaoyang, 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

☆ Cities brace for floods as heavier-than-usual storms drench China
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 21 (Reuters) - Rescue services braced for flooding as heavier-than-expected summer storms rolled across China as forecast on Friday, drenching Beijing and other major cities. Historically, China enters its peak rainy season in late July, but extreme weather has made storms more intense and unpredictable, exposing heavily built-up megacities with poor drainage to sudden floods and waterlogging. In Beijing, authorities have deployed this week over 2,600 people to drain 87 pumping stations in advance and clear thousands of water drainage outlets along roads, municipal authorities said in a statement on Friday. In July 2021, extreme rain in the central Henan city of Zhengzhou killed nearly 400 people, including 14 who drowned in a submerged subway line. Reporting by Ryan Woo and Liz Lee in Beijing; Editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: drenching, Ryan Woo, Liz Lee, Miral Organizations: Beijing Public Transport, Authorities, Xinhua, China Meteorological Administration, Thomson Locations: BEIJING, China, drenching Beijing, Beijing, Tianjin, Hebei, Inner Mongolia, Shanxi, Henan, Hubei, Jiangsu, Wuxi city, Gansu, Zhengzhou

☆ One Reason China Is Willing to Engage Again: Its Troubled Economy
▼ + stars: | 2023-07-17 | by ( Keith Bradsher | More About Keith Bradsher | ) www.nytimes.com time to read: +1 min

Still, analysts noted that any softening in approach remained limited to economic or business policies that do not involve China’s national security, which has become a defining feature of Chinese policy in recent years. On Saturday China announced that it would hold joint naval and air force exercises with the Russian military in the Sea of Japan. And Mr. Xi himself gave a speech on July 6 urging the military to “break new ground” in war preparedness, warning that “China’s security situation is facing rising instability and uncertainty,” according to the official Xinhua news agency. China has also taken steps this month that could undermine its reputation as a reliable link in global supply chains. It said it would limit exports of rare materials needed to make semiconductors, in a step widely seen as retaliation for American limits on the sale of advanced semiconductors to China.

Persons: “, ”, Scott Kennedy, Xi Jinping, Xi Organizations: Center for Strategic, International Studies, Saturday China, Xinhua Locations: Washington, China, United States, Japan

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