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☆ Yellen says 'direct' and 'productive' Beijing talks a step forward in putting U.S.-China ties on 'surer footing'
▼ + stars: | 2023-07-09 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

U.S. Treasury Secretary Janet Yellen addresses journalists in a press conference July 9 capping her four-day Beijing visit. She said "direct, substantive and productive" talks have set relations between the world's two largest economies on a "surer footing." She is the second member of U.S. President Joe Biden's cabinet to visit Beijing in recent weeks amid efforts to stabilize ties between the two powers. Otherwise, she added, Chinese officials can raise their concerns and U.S. will in some cases, address unintended consequences. Just days before Yellen's visit, Beijing had slapped export curbs on chipmaking metals and its compounds — which China's Ministry of Commerce claimed to have given the U.S. and Europe advance notice.

Persons: Janet Yellen, Pedro Pardo, Joe Biden's, Yellen, Joe, Biden, –, Yellen's, Premier Li Qiang Organizations: Treasury, Afp, Getty, U.S, U.S ., China's, of Commerce, Premier, China Locations: Beijing, Washington, China, U.S, Europe, United States, decouple

A senior Treasury official said the lunch with the Chinese economists would give Yellen, who was also the first woman to head the U.S. Federal Reserve, a chance to "interact with a number of people kind of outside the normal policy structure." Yellen told the women - one of whom described herself as a feminist economist - she was curious to learn more about their backgrounds and research. A June report by the United Nations urged China to adopt statutory quotas and a gender parity system to boost women's representation in government. Yellen, by contrast, is one of 13 women in President Joe Biden's 25-member Cabinet, the most gender-diverse in U.S. history. China also lags in terms of women's representation in the top echelons of industry, a recent study showed.

Persons: Janet Yellen, China's, Yellen, Li Qiang, I'm, Xi, Communist Party's, Shen Yiqin, Joe Biden's, Spencer Stuart, Andrea Shalal, Tian, Trevor Hunnicutt, Heather Timmons, Leslie Adler, William Mallard Organizations: . Treasury, U.S . Treasury, Treasury, U.S . Federal Reserve, Communist, United Nations, Women, People's Congress, Communist Party, U.S . Senate, Rutgers University's Center for Women, Bain & Co, Thomson Locations: BEIJING, Beijing, China, United States, Politics

☆ Yellen stresses 'fair' rules, communication in Beijing meetings
▼ + stars: | 2023-07-08 | by ( ) www.cnbc.com time to read: +2 min

US Treasury Secretary Janet Yellen speaks during a meeting with Chinese Premier Li Qiang (not shown) at the Great Hall of the People in Beijing on July 7, 2023. The United States and China, the world's two biggest economies, must compete fairly and communicate closely to avoid misunderstandings, U.S. Treasury Secretary Janet Yellen said in Beijing on Saturday. But it was critical to keep talking about areas of common interest, as well as disagreements, she said in prepared remarks. Meeting her at the Diaoyutai state guest house, where foreign dignitaries are often received in Beijing, He said he stood ready to work with Yellen. The United States would continue to communicate directly its concerns about specific economic practices, and would take targeted actions to protect its national security, Yellen said.

Persons: Janet Yellen, Premier Li Qiang, Yellen Organizations: Premier, of, People, Treasury Locations: Beijing, United States, China, U.S

☆ Tesla offers cash rebate on top models in China
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +3 min

Tesla said it would offer new buyers of its Model Y and Model 3 vehicles a cash rebate of 3,500 yuan ($483) if they could cite a referral from an existing owner. Tesla also said new buyers would have free access to its Enhanced Autopilot driver-assistance system for 90 days. It is continuing an earlier offer announced in June of 7,000-yuan rebates to buyers of its more expensive Model S and Model X vehicles in China. A number of Tesla owners posted their referral codes online and invited others to use them on Friday, suggesting the cash rebate could be widely available for new buyers. Earlier this week, Tesla cut prices on the Model 3 and Model Y by between 3% and 4% in Japan.

Persons: Tesla, Li Auto, Ralf Brandstatter, Premier Li Qiang, Qiaoyi Li, Zhang Yan, Brenda Goh, Shri Navaratnam, Sonali Paul Organizations: China's EV, China Association of Automobile Manufacturers, Premier, EVs, Thomson Locations: BEIJING, China, China's, Shanghai, Japan

☆ China's Xi urges greater innovation amid tech curbs from US
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 7 (Reuters) - China's President Xi Jinping, on an inspection tour of a major industrial province, renewed his call for greater innovation and technological self-reliance, as the United States intensifies curbs on Chinese access to advanced technologies. "With the rapid development of information technology and the emergence of disruptive technologies at any time, it is necessary to maintain a solid footing on the path of innovation and contribute to the realisation of high-level self-reliance in technology," Xi said. The United States is also considering restricting flow of its investments and know-how into Chinese companies working on advanced semiconductors, artificial intelligence and quantum computing. Yellen's trip to China comes weeks after a visit by Secretary of State Antony Blinken, who agreed with Xi that the mutual rivalry should not veer into conflict. Reporting by Ryan Woo and Ellen Zhang; Editing by Himani Sarkar and Ros RussellOur Standards: The Thomson Reuters Trust Principles.

Persons: Xi Jinping, Xi, Joe Biden's, Janet Yellen, Li Qiang, Antony Blinken, Ryan Woo, Ellen Zhang, Himani Sarkar, Ros Russell Organizations: Xinhua, Trump, Washington, Treasury, Thomson Locations: BEIJING, United States, China, Jiangsu, U.S, Beijing

☆ U.S. Treasury Secretary Janet Yellen meets Chinese Premier Li Qiang
▼ + stars: | 2023-07-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Chinese Premier Li Qiang (R) shakes hands with US Treasury Secretary Janet Yellen during a meeting at the Great Hall of the People in Beijing on July 7, 2023. BEIJING — U.S. Treasury Secretary Janet Yellen defended American actions to protect its national security in prepared remarks for a meeting with Chinese Premier Li Qiang. "The United States will, in certain circumstances, need to pursue targeted actions to protect its national security," Yellen said Friday in prepared remarks. Among several measures, the U.S. in October announced sweeping export controls that restrict the ability of Chinese businesses to develop advanced semiconductors. The ministry said Thursday the measures were not targeted at a specific country, and that it had notified the U.S. and Europe ahead of the public announcement.

Persons: Li Qiang, Janet Yellen, Premier Li Qiang, Yellen Organizations: of, People, Treasury, Premier, China's Ministry of Commerce Locations: Beijing, BEIJING — U.S, United States, U.S, China, Europe

Yellen is due to meet with Chinese Vice Premier He Lifeng -- her direct counterpart as China's top economic official -- on Saturday, a U.S. Treasury official said. MARKET REFORMSYellen also took aim at China's planned economy, urging Beijing to return to more market-oriented practices that had underpinned its rapid growth in past years. "A shift toward market reforms would be in China's interests," she told the AmCham event. Yellen dismissed the idea of decoupling the U.S. and Chinese economies, nothing that China's enormous and growing middle-class provided a big market for American goods and services. A Treasury official said the vibrant U.S. business community in China was "a living embodiment that we are not decoupling."

Persons: Yellen, Li, Janet Yellen, Li Qiang, Washington, Liu He, Xi Jinping, Yi Gang, Mark Schiefelbein, Yellen's, Michael Hart, BIDEN, Joe Biden, Xi, Antony Blinken, John Kerry, Andrea Shalal, Joe Cash, David Lawder, Catherine Evans, Heather Timmons, Alistair Bell Organizations: China, . Treasury, U.S, Treasury, American Chamber of Commerce, of, People, REUTERS U.S, Economic Cooperation, Thomson Locations: U.S, BEIJING, China, Beijing, United States, Washington, New Delhi, Asia, San Francisco, Ukraine

☆ 4 things making it harder for Janet Yellen to repair the US-China relationship
▼ + stars: | 2023-07-06 | by ( Laura He | ) edition.cnn.com time to read: +9 min

The global economy stands to gain if Washington and Beijing can mend fences, but analysts say this appears unlikely. Here are four things likely to make it harder for Yellen to repair US-China ties, and one thing keeping the relationship going. Sequoia’s executives said in a statement that it has become “increasingly complex” to run a decentralized global investment business. On Wednesday, US pharmaceutical firm Moderna (MRNA)signed a deal to make its first major investment in China. “Both sides are ramping up commercial restrictions in the name of national security and national interests,” she said.

Persons: Janet Yellen, China, ” Wei Jianguo, ”, Anna Ashton, Biden, Beijing’s, Wei, Capvision, Xi Jinping’s, “, Li Qiang, Xi, Alex Capri, ” Ashton, —, Jennifer Hansler, Wayne Chang, Bryan Mena Organizations: Hong Kong CNN, Eurasia Group, Micron Technology, China Daily, Analysts, China, Capvision, Bain & Company, Group, Forrester Research, Ontario, Republicans, Hawks, Shanghai Cooperation Organization, Xinhua, US Commerce Department, “, National University of Singapore Business School, Moderna Locations: Hong Kong, Beijing, United States, China, Chinese, Washington, Japan, Europe, Shanghai, New York, decouple, Moscow, Ukraine, Russia, Taiwan, Tianjin

BEIJING, July 5 (Reuters) - China's Commerce Minister told foreign pharmaceuticals firms they can expect "more development opportunities" during a roundtable on Wednesday, his ministry said, as drugmakers bemoan government procurement policies pricing them out of the market. Foreign pharmaceuticals firms have struggled to cement any inroads they have made into the world's second-largest economy, with the government maintaining a drug procurement programme that forces them to slash their prices and refusing to approve the use of any foreign COVID-19 vaccines during the pandemic. But as China pursues home-grown modernisation it will also open up "more development opportunities for foreign-funded enterprises, including the pharmaceutical industry," Wang told the meeting. Wang told the meeting on Wednesday that his ministry will expand the channels of communication for responding to and solving concerns, with the meeting resulting in 25 specific suggestions to be taken forward. Reporting by Joe Cash; Additional reporting by Kevin Yao;Editing by Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

Persons: Roche, Takeda, Wang Wentao, Wang, Li Qiang, Li, drugmakers, Joe Cash, Kevin Yao, Elaine Hardcastle Organizations: China's Commerce, AstraZeneca, Bayer, Merck, Novo Nordisk, Pfizer, Sanofi, Moderna, Wednesday, Economic, Thomson Locations: BEIJING, China, Tianjin

☆ China's previous monetary stimulus 'just isn't working,' a private survey shows
▼ + stars: | 2023-06-30 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

"For months, analysts have pumped the idea that Beijing has little choice but big-bang monetary easing," said Leland Miller, chief executive of China Beige Book. Shehzad Qazi Managing director, China Beige BookAs the report pointed out, "We already have monetary stimulus, it just isn't working." Major Wall Street banks — from Goldman Sachs and Bank of America to UBS and Nomura — recently cut their China growth projections. China Beige Book's survey involved 4,604 respondents in China across two periods: in mid-April, and from mid-May to mid-June. Derek Scissors Chief economist, China Beige Book

Persons: Leland Miller, it's, Shehzad Qazi, Goldman Sachs, Premier Li Qiang, Derek Scissors Organizations: Getty, People's Bank of China, China, Bank of America, UBS, Nomura, realtors, Premier Locations: China, Beijing, U.S

☆ China unveils sweeping foreign policy law as Xi consolidates power — and aims to counter the US
▼ + stars: | 2023-06-29 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —China has unveiled a sweeping foreign relations law enshrining its right to impose “countermeasures” against actions that it deems a threat – in Beijing’s latest bid to bolster its position amid strained relations with the West. “This is the first comprehensive foreign relations law … but it (reads) more like Xi Jinping’s foreign policy declaration,” Zhao said, adding that its release comes at a moment when Xi is focused on countering what it sees as US efforts to contain China. “The party, not the government, runs China’s foreign relations. The law also includes China’s pledge to promote “high-level opening-up” of its economy, development of foreign trade and and encouraging and legally protecting foreign investment. In recent months, a campaign against consulting and due diligence firms has unnerved foreign businesses in China.

Persons: enshrining, Antony Blinken, Jinping, –, Zhao Leji, “, Xi, Washington, Lockheed Martin, Suisheng Zhao, University of Denver’s Josef, ” Zhao, ”, China’s, Sung, Li Qiang, Zhao Organizations: Hong Kong CNN, West, Global Times, Lockheed, Raytheon, Communist Party, Center for, Cooperation, University of Denver’s, University of Denver’s Josef Korbel School of International Studies, Australian National University’s Taiwan Studies Locations: Hong Kong, China, Beijing’s, Beijing, China’s, United States, Ukraine, Taiwan, Center for China, Tianjin, Europe, Denver

☆ LVMH owner Bernard Arnault reportedly visits China after luxury spending rebound
▼ + stars: | 2023-06-28 | by ( Laura He | ) edition.cnn.com time to read: +4 min

LVMH reported its first-quarter sales surged 17% from a year ago, beating analyst expectations, driven by a rebound in China’s luxury market from the downturn it experienced during the pandemic. Luxury goods spending bounced back more quickly than any other sector in the first quarter. Although the economic momentum has lost steam in the past couple of months, growth in luxury goods sales has accelerated. China was one of the world’s largest luxury goods markets before Covid hit. Bain & Co. estimated earlier this year that Chinese consumer spending accounted for around 17% of the global luxury market in 2022.

Persons: Hong Kong CNN — Bernard Arnault, Elon Musk, Morgan, Jamie Dimon, Musk, Caijing, Christian Dior, LVMH didn’t, LVMH, ”, Jean, Jacques Guiony, “, Li Qiang, ” Li Organizations: Hong Kong CNN, LVMH, WF, CNN, Consumers, Bain & Co Locations: Hong Kong, China, Beijing, ” Beijing

☆ New Zealand signs range of pacts with China
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: 1 min

[1/5] Chinese Premier Li Qiang and New Zealand Prime Minister Chris Hipkins shake hands during a signing ceremony at the Great Hall of the People in Beijing on June 28, 2023. JADE GAO/Pool via REUTERSSYDNEY, June 28 (Reuters) - New Zealand said on Wednesday it had signed a range of cooperative arrangements with China on trade, agriculture, forestry, education, and science and innovation. New Zealand Prime Minister Chris Hipkins and Chinese Premier Li Qiang also discussed the Indo-Pacific region, tensions in the South China Sea and Taiwan Strait, Wellington said in a statement. Reporting by Lewis Jackson in Sydney, editing by Alasdair PalOur Standards: The Thomson Reuters Trust Principles.

Persons: Li Qiang, Chris Hipkins, JADE, Lewis Jackson, Alasdair Pal Organizations: Zealand, of, People, JADE GAO, REUTERS, Thomson Locations: Beijing, REUTERS SYDNEY, New Zealand, China, South, Sea, Taiwan Strait, Wellington, Sydney

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 26, 2023. Asian shares received a boost from Chinese Premier Li Qiang saying Beijing will roll out policies to boost China's economy. But the positive market sentiment faded in early European trading, with the pan-European STOXX 600 down 0.4% by 1149 GMT (.STOXX). MSCI's Europe index (.MSER) was down 0.1%, London's FTSE 100 lost 0.3% and Germany's DAX declined 0.1% (.GDAXI). It hit a seven-month high against China's yuan as investors braced for the possibility of China doing more to support the currency.

Persons: Li Qiang, Germany's DAX, Hani Redha, Christine Lagarde, Analysts, Wagner, Vladimir Putin's, Michael Hewson, Shunichi Suzuki, Elizabeth Howcroft, Ed Osmond, Mark Heinrich Our Organizations: REUTERS, Staff LONDON, PineBridge Investments, U.S . Federal Reserve, Nasdaq, Monetary, European Central Bank, Wagner Group, CMC Markets, U.S, ECB, U.S ., Finance, Thomson Locations: Frankfurt, Germany, Europe, United States, Beijing, Russia, U.S, China

☆ S&P 500, Nasdaq futures edge higher ahead of economic data
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Growth stocks rise in early tradeWalgreen Boots slides after profit warningInvestors await data, Powell speechFutures: Dow off 0.05%, S&P up 0.15%, Nasdaq climbs 0.39%June 27 (Reuters) - Futures tracking the S&P 500 and Nasdaq rose on Tuesday, ahead of economic data that could offer hints on the Federal Reserve's monetary tightening plans, while a profit warning from Walgreen Boots weighed on Dow futures. Market participants are focusing on economic data and the European Central Bank Forum in Sintra, Portugal where several key policymakers including Fed Chair Jerome Powell will speak this week. ET, Dow e-minis were down 18 points, or 0.05%, S&P 500 e-minis were up 6.75 points, or 0.15%, and Nasdaq 100 e-minis were up 58 points, or 0.39%. Snowflake (SNOW.N) climbed 3.5% after the cloud data analytics company announced partnership with Nvidia (NVDA.O) to allow customers to build AI models using their own data. Reporting by Sruthi Shankar and Ankika Biswas in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Powell, Boots, Jerome Powell, Stuart Cole, Premier Li Qiang, Bernstein, Sruthi Shankar, Ankika Biswas, Shinjini Organizations: Dow, Nasdaq, Federal, Walgreens Boots Alliance, Nvidia, European Central Bank, Dow e, Alibaba, Premier, Google, Foxconn, Thomson Locations: megacap, Sintra, Portugal, U.S, Bengaluru

☆ CNBC Daily Open: Tech, meet reality
▼ + stars: | 2023-06-27 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Microsoft wants explosive growthMicrosoft CEO Satya Nadella wants the tech giant to hit $500 billion in revenue by fiscal 2030, according to a court filing. Indeed, Nadella sketched out a "20/20" goal, which involves growing revenue and operating income by 20% year over year. Wilson, who predicted the fall in markets last year, thinks the S&P 500 will drop to 3,900 in the fourth quarter.

Persons: Vladimir Putin, Joe Biden, Satya Nadella, Nadella, Li Qiang, Amin Nasser, Wilson, Morgan Stanley's Organizations: CNBC, Tech, Stock, Japan's Nikkei, Wagner, Microsoft, New Locations: Asia, Pacific, Moscow, Russian, U.S, China, India, That's

☆ China slams the West for 'hyping up' the concept of 'de-risking.' Here's what it means and why China is so worried.
▼ + stars: | 2023-06-27 | by ( Spriha Srivastava | ) www.businessinsider.com time to read: +4 min

The US-China trade war has impacted manufacturing exports, particularly in the semiconductor industry. Opening Plenary with Li Qiang, Premier of the People's Republic of China World Economic Forum/Benedikt von LoebellWhy does de-risking matter? According to the Peterson Institute for International Economics, the trade war of 2018-19 devastated US exports to China. A big sticking point for the two nations is the US manufacturing exports to China. "Prior to the trade war, manufacturing was 44 percent of total US goods and services exports to China — the largest component of pre-trade war commerce.

Persons: Li Qiang, Li, —, Ursula von der Leyen, Benedikt von Loebell, Trump, Morgan, JP Morgan Organizations: Service, European, Economic, Peterson Institute for International Economics, Peterson Institute, Semiconductor Industry Association Locations: China, West, Davos, Tianjin, decouple, People's Republic of China, China —, East Asia, Taiwan, South Korea

☆ China opens its doors to the world by kicking off its first in-person 'Summer Davos' since the pandemic
▼ + stars: | 2023-06-27 | by ( Spriha Srivastava | ) www.businessinsider.com time to read: +3 min

The Chinese city of Tianjin is hosting the World Economic Forum's "Summer Davos." Chinese Premier Li Qiang opened the conference, acknowledging global challenges and warning about future public health crises. Saudi Arabia has sent a top delegation to the event, reflecting the importance of its oil trade relationship with China. C-suite executives, government officials, and media members from all over the world have made their way to attend the first in-person World Economic Forum, or WEF, event in China since the pandemic began. The WEF's three-day "Summer Davos" will see over 1,500 participants discuss topics centered around "Entrepreneurship: The driving force of the global economy."

Persons: Li Qiang, —, Li, PASCAL BITZ, Xi Jinping Organizations: Service, Entrepreneurship, New, People's, Economic, China's, Financial Times Locations: Tianjin, Davos, Saudi Arabia, China, Local, People's Republic of China, Kingdom

☆ China's economy is set to grow faster in the second quarter, Premier Li Qiang says
▼ + stars: | 2023-06-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Chinese Premier Li Qiang attends a meeting on June 26, 2023, with the Director-General of the World Trade Organization ahead of the World Economic Forum New Champions meeting in Tianjin, China. Pool | Getty Images News | Getty ImagesBEIJING — Chinese Premier Li Qiang said Tuesday his country was still on track to reach its annual growth target of around 5%. Li was speaking at the opening plenary of the World Economic Forum's Annual Meeting of the New Champions. On Tuesday, the Chinese premier repeated the line about forecast upgrades, again without mentioning specific institutions or dates. In June, the World Bank raised its forecast for China's growth this year to 5.6%, up from 4.3% previously.

Persons: Li Qiang, Li, Xi Jinping, Goldman Sachs Organizations: World Trade Organization, Getty, New, JPMorgan, UBS, Bank of America, Bank, Monetary Fund Locations: Tianjin, China, BEIJING

☆ Wall Street rises after upbeat economic data, recovery in megacaps
▼ + stars: | 2023-06-27 | by ( Sruthi Shankar | ) www.reuters.com time to read: +3 min

New home sales and consumer confidence data are due later in the day. A winning run on Wall Street came to a halt last week after Powell said there were more rate hikes on the cards. Snowflake (SNOW.N) climbed 2.6% after the cloud data analytics company announced partnership with Nvidia (NVDA.O) to allow customers to build AI models using their own data. The S&P index recorded eight new 52-week highs and one new low, while the Nasdaq recorded 18 new highs and 48 new lows. Reporting by Sruthi Shankar, Johann M Cherian and Ankika Biswas in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Powell, Peter Andersen, Jerome Powell, Premier Li Qiang, Bernstein, Sruthi Shankar, Johann M Cherian, Ankika Biswas, Shinjini Organizations: Dow, Nasdaq, Commerce Department, Reuters, Fed, Andersen Capital Management, European Central Bank, Dow Jones, Nvidia, Meta, Citigroup, Alibaba, Premier, Google, Walgreens Boots Alliance, Lordstown Motors, Foxconn, NYSE, Thomson Locations: Sintra, Portugal, U.S, Bengaluru

☆ Premier Li urges China and Europe to 'rise above differences' at Paris summit
▼ + stars: | 2023-06-23 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +1 min

[1/2] Chinese Premier Li Qiang arrives for the closing session of the New Global Financial Pact Summit, Friday, June 23, 2023 in Paris, France. "China will unequivocally reject trade protectionism and all forms of decoupling and severing of supply chains," Li said on the final day of the two-day summit, adding that China would continue to take practical steps to support its fellow developing countries. "China is ready to be engaged in debt relief efforts in an effective, realistic and comprehensive manner in keeping with the principle of fair burden sharing," Li said. During the summit, Zambia struck a deal to restructure $6.3 billion in debt owed to other governments, including China, its largest official creditor. Reporting by Casey Hall Editing by Christina Fincher & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Li Qiang, Read, Li, Casey Hall, Christina Fincher, Simon Cameron, Moore Organizations: New Global Financial, Thomson Locations: Paris, France, SHANGHAI, China, Europe, Zambia

☆ Germany's approach to China is 'a marked contrast' to the U.S. one, analyst says
▼ + stars: | 2023-06-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGermany's approach to China is 'a marked contrast' to the U.S. one, analyst saysNeil Thomas, a fellow in Chinese politics at the Asia Society Policy Institute, discusses German Chancellor Olaf Scholz's meeting with Chinese Premier Li Qiang, noting the differences in language that Scholz and U.S. Secretary of State Antony Blinken have used with China.

Persons: Neil Thomas, Olaf Scholz's, Premier Li Qiang, Scholz, Antony Blinken Organizations: Asia Society Policy Institute, Premier Locations: China

China became Germany's single biggest trade partner in 2016 and is a core market for top German companies including Volkswagen (VOWG_p.DE), BASF (BASFn.DE) and BMW (BMWG.DE). "They know German companies will run up direct channels to the chancellery," said Andrew Small, a senior fellow at the German Marshall Fund's Asia program. The talks come after Antony Blinken on Sunday became the first U.S. secretary of state to visit China in five years, stressing the importance of keeping open lines of communication to reduce the risk of miscalculation. The Chinese delegation will meet with some of those CEOs on Monday, according to people familiar with the plans. The Chinese delegation will head to Paris for an official visit and to attend a financial conference on June 22 to 23.

Persons: Olaf Scholz, Fabrizio Bensch, China Scholz, Scholz, Li Qiang, Li, Wang Yiwei, Andrew Small, Marshall, Mikko Huotari, Antony Blinken, Sarah Marsh, Andreas Rinke, Laurie Chen, John Geddie, Giles Elgood Organizations: REUTERS, Volkswagen, BASF, BMW, Centre, European Studies, Renmin University of China, Greens and Free Democrats, Social Democrats, Analysts, Mercator Institute for China Studies, Sunday, Thomson Locations: Berlin, Germany, China, Beijing, Munich BERLIN, Europe, European Union, Asia, Munich, Bavaria, Paris

☆ 6 photos of Elon Musk's visit to China, from a 16-course dinner to meetings with Chinese officials
▼ + stars: | 2023-05-31 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Photos from the visit show Musk's private jet landing and the Tesla CEO's 16-course meal. Elon Musk touched down in China for the first time in three years on Tuesday — a key trip for the Tesla chief. Musk met with Chinese Foreign Minister Qin Gang. Musk is one of several US CEOs to visit China in recent months. Some analysts have hailed Musk's visit to China as a positive sign.

Persons: Elon Musk, Musk, Elon, Tingshu Wang, Ma, Jack Ma, Tom Zhu, Grace Tao, Qin Gang, Qin, he's, Zeng Yuqun, Fu Yan, Jin Zhuanglong, Tesla, CNBC's David Faber, Li Keqiang, Li Qiang, Dan Ives Organizations: Morning, Tesla, Twitter, REUTERS, Reuters, Tesla's, Beijing REUTERS, Chinese Ministry of Commerce, Foreign, China's Ministry of Foreign Affairs, Amperex Technology, Weibo, Associated Press, Apple, Getty Locations: China, Beijing, Austin , Texas, Anchorage , Alaska, People's Republic of China, Shanghai

☆ Tesla's Musk open to expanding in China - foreign ministry
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +4 min

Musk also told Qin in the meeting that he opposed a decoupling of the U.S. and Chinese economies, according to a statement from the Chinese foreign ministry. Qin told Musk China was committed to improving the business environment for investors, including Tesla, and used an elaborate driving metaphor to describe China-U.S. relations. /Photo prise le 30 mai 2023/REUTERS/Tingshu WangIn a 2019 trip to China, Musk met with then-Premier Li Keqiang. A year later, he created a buzz on Chinese social media for dancing onstage to celebrate the opening of Tesla's Shanghai factory. While his plane was en route to China, Musk tweeted about advances in China's space programme, which aims to land a crew on the moon before 2030.

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