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☆ Toyota, Pony.Ai to set up robotaxi JV with $139 mln investment
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

file photo: A logo of the autonomous driving technology startup Pony.ai is seen on a screen during an event in Beijing, China May 13, 2021. REUTERS/Tingshu WangBEIJING, Aug 4 (Reuters) - Autonomous vehicle technology startup Pony.Ai on Friday said it would set up a joint venture with Japan's Toyota Motor (7203.T) with an investment of 1 billion yuan ($139 million) to mass produce robotaxis. The venture marks a new development in the partnership between Pony.Ai and Toyota, which first teamed up in 2019. In the years since, the Japanese automaker has invested hundreds of millions of dollars in Pony.Ai. Pony.Ai, which has offices in China and the United States, has launched robotaxi services in Beijing and Guangzhou.

Persons: Tingshu Wang, Pony.Ai, Liz Lee, Tom Hogue, Christopher Cushing Organizations: REUTERS, Japan's Toyota, Guangzhou Automobile Group, GAC, Toyota, Pony.Ai, Beijing, Thomson Locations: Beijing, China, Tingshu Wang BEIJING, Pony.Ai, United States, Guangzhou

☆ China to lift tariffs on Australian barley after 3 years
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

China and Australia agreed in April to resolve their dispute over barley imports, with Canberra to suspend a case at the World Trade Organization (WTO) over Beijing's anti-dumping and countervailing duties on barley, while China promised to speed up a review into the tariffs. Australian Trade Minister Don Farrell said on Wednesday that he was expecting a positive outcome within days. The tariffs will be dropped starting on Saturday, China's Ministry of Commerce said, citing a changing situation in China's barley market without providing further details. Beijing implemented tariffs totalling 80.5% on Australian barley in May 2020, wiping out imports of the grain by the world's biggest beer market, worth as much as A$2 billion ($1.31 billion) a year. Those trade flows are likely to shift again after China drops the tariffs, with its barley buyers expected to begin purchases of the new Australian crop harvested in October for arrival by year-end.

Persons: Jonathan Barrett, Don Farrell, Dominique Patton, Kim Coghill, Jamie Freed Organizations: REUTERS, China's Ministry of Commerce, World Trade Organization, Australian Trade, Labor, WTO, Reuters Graphics Reuters, Beijing, Thomson Locations: Moree, New South Wales, Australia, BEIJING, China, Canberra, Beijing, Canada, France, Argentina

☆ China to send special envoy to Saudi Arabia for Ukraine talks
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

Chinese Special Envoy for Eurasian Affairs Li Hui leaves the headquarters of the Russian foreign ministry following talks in Moscow, Russia, May 26, 2023. REUTERS/Maxim Shemetov/File PhotoBEIJING, Aug 4 (Reuters) - Chinese Special Envoy for Eurasian Affairs Li Hui will visit Jeddah, Saudi Arabia, for international talks on the peaceful settlement of the Ukraine crisis, China's foreign ministry said on Friday. "China is willing to work with the international community to continue to play a constructive role in promoting a political solution to the crisis in Ukraine," Wang Wenbin, a spokesperson at the Chinese ministry, said in a statement. China was invited to a previous round of talks in Copenhagen in late June but did not attend. Reporting by Beijing newsroom; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

Persons: Eurasian Affairs Li Hui, Maxim, Wang Wenbin, Volodymyr Zelenskiy, Toby Chopra Organizations: Eurasian Affairs, REUTERS, Beijing, Thomson Locations: Moscow, Russia, BEIJING, Jeddah, Saudi Arabia, Ukraine, China, Copenhagen

☆ China to make holders of more than 1 mln users' data get annual audits
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

A man walks past an office of the Cyberspace Administration of China (CAC) in Beijing, China July 8, 2021. The appointed compliance agency must also evaluate services that own the data of more than 100,000 users, or those with sensitive data of more than 10,000 users, the CAC said. Services that hold data of fewer than 1 million users must undergo a personal information compliance check at least once every two years, the CAC said. China has in recent years tightened controls on data and information, especially data and information that flows abroad. The CAC last year required platform companies with data on more than 1 million users to undergo a security review before listing their shares overseas.

Persons: Thomas Peter BEIJING, Albee Zhang, Brenda Goh, Robert Birsel Organizations: Cyberspace Administration of China, CAC, REUTERS, Services, Thomson Locations: Beijing, China

☆ China issues draft guidelines to tighten limits on use of apps by minors
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Aug 2 (Reuters) - China's cyberspace regulator said on Wednesday it has drafted guidelines to strengthen limits around use of apps, smart terminals and app stores by minors. The regulator set a deadline for public feedback on the guidelines on Sept. 2. Reporting by Beijing newsroom; Writing by Liz Lee; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Liz Lee, Jacqueline Wong Organizations: Beijing, Thomson Locations: BEIJING

☆ China looks to limit children to two hours a day on their phones
▼ + stars: | 2023-08-02 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

Youngsters check mobile phones during a dinner time at a cafeteria in Shanghai, China September 3, 2021. Users aged 16 to 18 would be allowed two hours a day, children aged eight to 16 would get one hour while children under eight would be allowed just eight minutes. But the CAC said service providers should allow parents to opt out of the time limits for their youngsters. Xia Hailong, a lawyer at the Shanghai Shenlun law firm, said the rules would be a headache for the internet companies. The proposed rules come after signals from Beijing that a years-long regulatory crackdown on its technology industry has ended.

Persons: Aly, Hong Kong, Xia Hailong, ByteDance's, Josh Ye, Liz Lee, Jacqueline Wong, Robert Birsel Organizations: REUTERS, Cyberspace Administration of China, CAC, HK, Tencent Holdings, Authorities, Thomson Locations: Shanghai, China, Hong, Hong Kong, Beijing

☆ Exclusive: China asks some banks to reduce or delay dollar buying -sources
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +5 min

One source said regulators were emphatic banks should hold off dollar purchases under their proprietary trading accounts due to the "recent yuan depreciation". "The yuan exchange rate expectations are stable, and the foreign exchange market has the foundation to meet authentic and compliant FX needs," SAFE said in response to a Reuters query. Keeping non-urgent dollar demand at bay could relieve some of the immediate pressure on the yuan, the sources said. But that excitement soon faded, as domestic and foreign investors said they would wait for substantive action before putting more money into China. There was also a seasonal factor too, as overseas-listed Chinese companies usually need more foreign exchange in the summer to pay dividends to shareholders.

Persons: China's, Ken Cheung, Alvin Tan, Tan, Goldman Sachs, Vidya Ranganathan, Simon Cameron, Moore Organizations: U.S ., People's Bank of China, State Administration of Foreign Exchange, Reuters, Mizuho Bank, Asia FX, RBC Capital Markets, Goldman, Overseas, Thomson Locations: SHANGHAI, BEIJING, Hong Kong, Asia, China, Shanghai, Beijing

☆ Exclusive: China asks some banks to reduce or delay dollar buying to ease pressure on yuan -sources
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI/BEIJING, Aug 1 (Reuters) - China's currency regulators have in recent weeks asked some commercial banks to reduce or delay their dollar purchases, two people with direct knowledge of the matter said. The informal instruction, or the so-called window guidance, was meant to slow the pace of yuan depreciation, the sources said. One source said the regulators were emphatic banks should hold off dollar purchases under their proprietary trading accounts. Chinese yuan has lost 3.6% against the U.S. dollar so far this year, hitting 7.16 per dollar on Tuesday to be one of Asia's worst performing currencies. Reporting by Shanghai and Beijing Newsrooms; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Simon Cameron, Moore Organizations: U.S, People's Bank of China, Reuters, State Administration of Foreign Exchange, Thomson Locations: SHANGHAI, BEIJING, Shanghai, Beijing

☆ China complains to US about 'dangerous' weapons aid to Taiwan
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Aug 1 (Reuters) - China said on Tuesday it has complained to the United States about a weapons aid package to Taiwan, urging Washington to refrain from going further down a "wrong and dangerous" path. The U.S. unveiled an aid package for Taiwan worth up to $345 million on Friday as Congress authorised up to $1 billion worth of weapons aid for the island as a part of the 2023 budget. A spokesperson for China's defence ministry, Tan Kefei, said the U.S. must stop all forms of "military collusion" with Taiwan. The top U.S. general said in July it and allies should speed up weapons delivery to Taiwan in coming years to help the island defend itself. China's People's Liberation Army is paying close attention to the situation in the Taiwan Strait and is always on high alert, Tan said.

Persons: Tan Kefei, Tan, China's, Jacqueline Wong, Robert Birsel Organizations: Army, Beijing, Thomson Locations: BEIJING, China, United States, Taiwan, Washington, U.S, Beijing, Taipei

☆ China gallium, germanium export curbs kick in; wait for permits starts
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Aug 1 (Reuters) - China's export controls on some gallium and germanium products take effect on Tuesday, with traders braced for a drop in international supply in August and September while exporters sort out newly required permits. China, the world's top supplier of the two minor metals used to make semiconductors, announced restrictions on the exports of eight gallium and six germanium products in early July, citing national security reasons. At the same time, the export restrictions are expected to result in a growing surplus of the products in China. Chinese exports of wrought germanium and germanium products in the first half totalled 27,825 kg, up 75.5% from a year earlier, customs data showed. Exports of wrought gallium and gallium products totalled 17,565 kg, down 53.5%.

Persons: Willis Thomas, CRU's Thomas, Andrew Hayley, Florence Tan, Jason Neely, Jan Harvey Organizations: China's Ministry of Commerce, Reuters, Commerce, China Nonferrous Metals Industry Association, Beijing Newsroom, Thomson Locations: BEIJING, China, London, Rotterdam, Beijing

☆ Foxconn Industrial Internet denies signing deal with Tamil Nadu -report
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

BEIJING/TAIPEI, Aug 1 (Reuters) - A subsidiary of tech giant Foxconn (2317.TW) said that it had not signed any agreement to invest 16 billion rupees ($194.6 million) in Tamil Nadu, China's Securities Times reported on Tuesday. The government of the southern Indian state of Tamil Nadu said on Monday it has signed a deal with Foxconn for a new electronic components manufacturing facility that would create 6,000 jobs. The Foxconn Industrial Internet (FII) (601138.SS) facility will be built in the Kancheepuram district near the state capital of Chennai, a state government source told Reuters on condition of anonymity as details are not yet public. "We did not sign any investment agreement," FII was quoted as saying by the Securities Times newspaper, adding the company had issued a statement in July refuting similar "rumours." ($1 = 82.2290 Indian rupees)Reporting by Beijing Newsroom and Yimou Lee in Taipei; Editing by Jacqueline Wong and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: FII, Foxconn, Yimou Lee, Jacqueline Wong, Jamie Freed Organizations: China's Securities Times, Foxconn, Securities Times, Beijing Newsroom, Thomson Locations: BEIJING, TAIPEI, Tamil Nadu, Kancheepuram, Chennai, Taipei

[1/5] Kazuyuki Tanioka, the owner of Japanese cuisine Toya restaurant, prepares a sashimi dish, during an interview with Reuters, in Beijing, China July 25, 2023. China is the biggest importer of Japanese seafood. Shortly after the 2011 tsunami and earthquake damaged the Fukushima plant, it banned the import of food and agricultural products from five Japanese prefectures. The latest import restrictions were imposed this month after the United Nation's nuclear watchdog approved Japan's plans to discharge the treated water. "Our main focus is to source seafood within China or sourcing from other foreign suppliers," Tanioka said.

Persons: Tanioka, Tingshu Wang, It's, Toya, Kenji Kobayashi, Fukuoka, Duan, restaurateurs, Martin Quin Pollard, Chris Gallagher, Tom Bateman, Mariko Katsumura, Xiaoyu Yin, Justin Fung, Miral Organizations: Reuters, REUTERS, United, Aomori, Aomori Chuosuisan Co, Japan, Beijing, Thomson Locations: Toya, Beijing, China, Tingshu Wang BEIJING, Kumamoto, Japan, Aomori Chuosuisan, Hong Kong, Tokyo

☆ China curbs exports of drone equipment amid U.S. tech tension
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 31 (Reuters) - China on Monday announced export controls on some drones and drone-related equipment, saying it wanted to safeguard "national security and interests" amid escalating tension with the United States over access to technology. The restrictions on equipment including some drone engines, lasers, communication equipment and anti-drone systems would take effect on Sept. 1, the commerce ministry said. The controls would also affect some consumer drones, and no civilian drones could be exported for military purposes, a ministry spokesperson said in a statement. China has a big drone manufacturing industry and exports to several markets including the U.S.U.S. lawmakers have said that more than 50% of drones sold in the U.S. are made by Chinese-based company DJI, and they are the most popular drone used by public safety agencies. The drone export curbs come after China announced export controls of some metals widely used in chipmaking last month, following moves by the United States to restrict China's access to key technologies, such as chipmaking equipment.

Persons: DJI, Mark Potter Organizations: Monday, Authorities, U.S . U.S, Beijing, Thomson Locations: BEIJING, China, United States, U.S, Russia, Ukraine, chipmaking

☆ Tesla to cut prices on some Model 3, Model Y in HK -media
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: 1 min

Companies Tesla Inc FollowBEIJING, July 31 (Reuters) - U.S. automaker Tesla (TSLA.O) is set to cut prices on multiple variants of its Model 3 and Model Y vehicles in Hong Kong from Aug. 4, Hong Kong Economic Times reported on Monday. The discounts would range from 6% to 11.9%, according to the report. Reporting by Beijing NewsroomOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla Organizations: Tesla Inc, BEIJING, U.S, Hong Kong Economic Times, Beijing, Thomson Locations: Hong Kong

☆ Listing of Ant Group is unlikely in the short term, state media report
▼ + stars: | 2023-07-29 | by ( ) www.reuters.com time to read: 1 min

BEIJING, July 29 (Reuters) - A listing of Jack Ma-backed Ant Group (688688.SS) is unlikely in the short term, state media reported on Saturday, citing people close to regulation. Earlier this month, Ant Group announced a surprise share buyback that valued the fintech giant at $78.54 billion, well below the $315 billion touted in the suspended IPO. Reporting by Beijing newsroom Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Jack Ma, Mark Potter Organizations: Ant, Ant Group, Beijing, Thomson Locations: BEIJING

☆ Foreign ships, aircraft in East and South China Seas escalating tensions - China's defence ministry
▼ + stars: | 2023-07-29 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 29 (Reuters) - The frequent dispatch of ships and aircraft by certain unnamed countries to "show off their military force for self-interest" has raised tensions in the East and South China Seas, China's defence ministry said on Saturday. In comments about a Japanese defence report flagging Chinese threats, ministry spokesperson Tan Kefei said the actions have seriously aggravated regional tensions, even as overall situation in the East China Sea and South China Sea was generally stable. Tan said Japan's annual defence paper projected a "wrong perception" of China, and "deliberately exaggerates the so-called Chinese military threat". Japan released its annual defence paper last week, offering a gloomy assessment of the threat of China's territorial ambitions, its security partnership with Russia and a belligerent North Korea. In December, Japan announced doubling its defence spending over the next five years, undertaking its biggest military build-up since World War Two.

Persons: Tan Kefei, Tan, Liz Lee, Lincoln Organizations: South China, East China, Thomson Locations: BEIJING, East, South, South China, China, Tokyo, Japan, Taiwan Strait, Russia, North Korea, Ukraine, Taiwan, Beijing

Financial firms and their regulators have cut salaries and bonuses after China's top graft-busting watchdog vowed to eliminate "Western-style hedonism" in the $57 trillion sector. "Wage cuts will intensify deflationary risks and reduce willingness to spend," said Zhaopeng Xing, ANZ's senior China strategist. Reuters GraphicsWEAK BARGAINING POWERUnilateral wage cuts are illegal in China, but complex salary structures offer ways around that. Shao, who sold make-up in the eastern city of Suzhou and only gave her surname for privacy reasons, had a choice to leave her company or accept a 50% wage cut. Their bargaining power ... is weakened so they tend to accept wage cuts," said Aidan Chau, researcher at Hong Kong-based rights group China Labour Bulletin.

Persons: Yao, Zhaopeng Xing, ANZ's, Unit's Xu Tianchen, Zhaopin, Shao, Aidan Chau, Xu, he's, Xiangrong Yu, Ellen Zhang, Marius Zaharia, Liangping Gao, Kripa Jayaram, Kim Coghill Organizations: Communist Party, Financial, Economist, Reuters, Workers, China Labour Bulletin, Reuters Graphics Reuters, Citi, Graphics, Thomson Locations: China, BEIJING, HONG KONG, Hefei, Suzhou, Hong Kong, Shanghai, Beijing

The new market-based pricing system will also encourage distributors like ENN and China Gas that are expanding into global gas trading to look at importing LNG. "The policy will help the whole (gas) distribution sector and restore utilities' profitability," said Tan Yuwei, general manager of capital management at China Gas Holdings. Shares for listed gas utility companies briefly reversed this year's trend downwards after the policy was announced, but they remain under pressure from lacklustre industrial demand and China's struggling economy. China in recent years has liberalized natural gas prices by allowing distributors to pass costs on to industrial and commercial customers, although Beijing maintained tight control over household prices to avoid a consumer backlash. "This policy reform will result in more reasonable downstream gas prices in China, which will encourage city gas utilities to increase purchases from upstream importers," said Yi Cui, an analyst with consultancy Rystad Energy, referring to Chinese national oil companies.

Persons: COVID, Tan Yuwei, Tan, Yi Cui, Chen Aizhu, Emily Chow, Andrew Hayley, Tom Hogue Organizations: ENN Energy Holdings, HK, China Gas Holdings, China Resources Gas, Shanghai Gas, Chongqing Gas, Changchun Gas, China Gas, National Development, Reform Commission, China Gas Association, Rystad Energy, Beijing, Thomson Locations: SINGAPORE, BEIJING, China, Changchun, Qingdao, Nanjing, Shijiangzhuang, Lanzhou, Hubei, Guizhou, Shaanxi, Beijing, Hebei, Singapore

☆ Key takeaways from China's politburo meeting on the economy
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +3 min

July 26 (Reuters) - China pledged to step up stimulus measures as the economy faces what it described as "new" difficulties and a "tortuous" recovery, following a meeting of the powerful politburo of the ruling Communist Party this week. Below are the key takeaways from the official readout of the meeting on the direction China's economic policy will take in the second half of 2023, which left many issues unaddressed. PROPERTYThe politburo removed a key phrase from the readout of its meeting in April, that cited President Xi Jinping as saying "houses are for living, not for speculation," sparking a rally in the shares of battered property firms. While markets are expecting further easing of property market regulations to slow the giant sector's downturn, the politburo flagged a "city-based" approach rather than nationwide changes. HOUSEHOLD CONSUMPTIONThe politburo reiterated it wants to turn it into a key driver of growth.

Persons: Xi Jinping, meeting's, Marius Zaharia, Lincoln Organizations: Communist Party, Investors, Beijing bailouts, Thomson Locations: China, Beijing

☆ Some Chinese steel mills ordered to cap output this year - sources
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 25 (Reuters) - Several Chinese steel mills have received instructions to cap this year's output at the same level as 2022, five people familiar with the matter and analyst reports said on Tuesday, potentially curbing iron ore demand in the world's top steel market. China has mandated zero output growth in its steel sector for the last two years as it seeks to limit carbon emissions by one of its most polluting industries. China's state planner did not respond to a fax seeking comment on the caps issued at some steel mills. Some mills in the northern Chinese city of Tianjin were notified to keep steel output below the 2022 level, according to reports by local consultancies Mysteel and Fubao on Tuesday, which did not specify the number of mills. However, a dozen mills in northern Chinese cities including Tianjin and Handan contacted by Reuters said they had not yet received any instructions to cap their output.

Persons: Dominique Patton, Chizu Organizations: China Baowu Steel Group, Shanghai Metals, Reuters, Shanghai Futures Exchange, National Bureau, Statistics, Thomson Locations: BEIJING, China, Tianjin, Fubao, Shanghai, Handan, Beijing

☆ China state banks seen selling US dollars to prop up yuan -sources
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

China's state banks usually trade on behalf of the central bank in the country's foreign exchange market, but they could also trade on their own behalf. Policymakers also said China will keep the yuan exchange rate basically stable at reasonable and balanced levels, and vowed to invigorate the capital market and restore investor confidence. This is in line with the People's Bank of China's (PBOC) further tightening of FX policy recently." The onshore yuan strengthened more than 0.6% to a high of 7.1411 per dollar and was fetching 7.1541 as of 0314 GMT. Its offshore counterpart followed the strengthening trend and surged to a week high of 7.1475 before being last traded at 7.1542.

Persons: Christopher Cushing Organizations: HSBC, People's Bank of China's, greenback, Thomson Locations: SHANGHAI, BEIJING, China, Shanghai, Beijing

☆ China replaces foreign minister Qin after brief stint and weeks of speculation
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

[1/2] Chinese Foreign Minister Qin Gang looks on during his meeting with his Egyptian counterpart Sameh Shoukry in Cairo, Egypt, January 15, 2023. REUTERS/Mohamed Abd El Ghany/File PhotoBEIJING, July 25 (Reuters) - China removed Foreign Minister Qin Gang from his post on Tuesday after a one-month absence from public duties, replacing him with his predecessor Wang Yi, state media said, after weeks of speculation about what had happened to him. Qin, 57, who only took up the job in December after a brief stint as envoy to the United States, had not been seen in public since June 25 when he met visiting diplomats in Beijing. Wang, 69, who filled in for Qin during his absence, retakes the role he held between 2018 and 2022. China's foreign ministry did not respond to a request for comment about reasons behind the switch.

Persons: Qin Gang, Sameh Shoukry, Mohamed Abd El Ghany, Wang Yi, Qin, Wang, Andrew Heavens, Nick Macfie Organizations: Foreign, REUTERS, Beijing, Thomson Locations: Cairo, Egypt, BEIJING, China, United States, Beijing, Indonesia, Ukraine, Moscow, Taiwan

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

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

☆ China's CATL says cooperation with Ford moving forward as normal
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: 1 min

BEIJING, July 24 (Reuters) - Chinese battery giant CATL said in a statement on Monday that its cooperation with Ford Motor is moving forward as normal. The statement came after two U.S. House of Representatives committees said on Friday they are investigating Ford's Chinese battery partnership. Reporting by Beijing Newsroom; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Coghill Organizations: Ford, . House, Beijing, Thomson Locations: BEIJING

☆ China seeks to boost demand by pushing urban development - state media
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 21 (Reuters) - China's cabinet has approved guidelines on transforming underdeveloped areas in megacities, in the government's latest move to support the economy, state media said on Friday. China will promote the transformation of "urban villages" - or underdeveloped areas - in megacities, as they pose a threat to public safety and social governance, state media said, citing a regular cabinet meeting. Such transformation "is an important measure to improve people's livelihoods, expand domestic demand, and promote high-quality urban development," the cabinet said. The Politburo, a top decision-making body of the ruling Communist Party, pledged in April to accelerate the redevelopment of underdeveloped areas in megacities. Reporting by Beijing newsroom and Kevin Yao Editing by Andrew Heavens and Frances KerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Yao, Andrew Heavens, Frances Kerry Organizations: Communist Party, Beijing, Thomson Locations: BEIJING, megacities, China

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