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An employee works on the production line at Jingjin filter press factory in Dezhou, Shandong province, China August 25, 2022. China's non-manufacturing PMI, which incorporates sub-indexes for service sector activity and construction, also rose, coming in at 51.7 versus August's 51.0. PROPERTY RISKSMore stable economic indicators will be welcomed by policymakers as they continue to grapple with a property sector debt crisis that has rattled global markets. Analysts say more policy support will be needed to ensure China's economy can hit the government's growth target of about 5% this year. "China's economy stabilised partly driven by the loosening of property sector policies," said Zhiwei Zhang, chief economist of Pinpoint Asset Management.

Persons: Siyi Liu, Zhou Hao, Zhiwei Zhang, Ryan Woo, Tina Qiao, Joe Cash, Michael Perry, William Mallard Organizations: REUTERS, National Bureau of Statistics, PMI, Guotai, China Evergrande, HK, Asian Development Bank, Analysts, Thomson Locations: Dezhou, Shandong province, China, BEIJING

☆ Temasek unit raises $3.3 bln in flagship fund investing in China
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, Sept 28 (Reuters) - Singapore state investment firm Temasek's (TEM.UL) wholly owned unit True Light Capital said on Thursday it raised $3.3 billion in its flagship fund that invests in Greater China and has now closed it to new capital. The Singapore-based asset manager said in a statement the True Light Fund I secured capital from global investors including sovereign wealth funds, foundations, financial institutions, and family offices. The closing of the fund indicates that True Light can now focus on investing the capital. The fund will invest alongside Temasek in opportunities related to Greater China, True Light said. It invests directly in private and public equity as well as indirectly through private equity and venture funds, it added.

Persons: Yeo Chee Kian, Yibing Wu, Yantoultra Ngui, Muralikumar Organizations: U.S, Temasek, Milken Institute Asia, Thomson Locations: SINGAPORE, Singapore, Greater China, China, Taiwan

HANGZHOU, China Sept 27 (Reuters) - Cui Chenxi became China's youngest Asian Games gold medallist on Wednesday after the 13-year-old skateboarder won the women's street event on day four of competition in Hangzhou. With an eye-catching performance featuring several 'Ollies' and a huge move off a high rail, which several of her competitors avoided, Cui took gold ahead of compatriot Zeng Wenhui, 18, with Japanese 16-year-old Miyu Ito taking bronze. Cui, who hails from China's eastern Shandong province, only took up skateboarding in 2020 when China's COVID restrictions meant she could not practice rollerblading, which she began as a three-year-old. Each athlete's highest scoring run and two highest scoring tricks were then added together to reach a final score. Margielyn Didal, who won gold for the Philippines at the 2018 Asian Games, is still only 24 yet she seemed like a veteran with all her competitors in the final 18 or under.

Persons: Cui Chenxi, Cui, Zeng Wenhui, Miyu Ito, Margielyn Didal, Didal, I'm, Martin Quin Pollard, Dylan Martinez, Peter Rutherford Organizations: Asian, Thomson Locations: HANGZHOU, China, Hangzhou, China's, Shandong, Philippines

☆ Marshall Islands says US must address nuclear legacy for deal on future ties
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +3 min

[1/2] Marshall Islands' President David Kabua arrives to address the 78th Session of the U.N. General Assembly in New York City, U.S., September 20, 2023. REUTERS/Eduardo Munoz Acquire Licensing RightsUNITED NATIONS, Sept 20 (Reuters) - The president of the Marshall Islands said on Wednesday his Pacific island nation was "cautiously optimistic" it could soon finalize a deal on future ties with the United States, but repeated a call for Washington to address the legacy of massive nuclear testing in the 1940s and 50s. The Marshall Islands is one of three sparsely populated Pacific island nations covered by so-called Compacts of Free Association (COFAs) with the United States. The foreign minister of the Marshall Islands called in July for more U.S. money to deal with the nuclear legacy to enable the renewal of its COFA, the economic terms of which expire on Sept. 30. Chief U.S. negotiator Joseph Yun has proposed Congress approve the total amount by Sept. 30, even without a final agreement with the Marshall Islands.

Persons: David Kabua, Eduardo Munoz, MOUs, Joseph Yun, East Asia Daniel Kritenbrink, Joe Biden, David Brunnstrom, Lincoln Organizations: General Assembly, REUTERS, UNITED NATIONS, Marshall, Free Association, Pacific, United Nations General Assembly, Chief, East Asia, Marshall Islanders, U.S, White, Thomson Locations: Marshall, New York City, U.S, United States, Washington, Micronesia, Palau, China, Pacific, New York, Bikini

☆ Marshall Islands Says US Must Address Nuclear Legacy for Deal on Future Ties
▼ + stars: | 2023-09-20 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +3 min

UNITED NATIONS (Reuters) - The president of the Marshall Islands said on Wednesday his Pacific island nation was "cautiously optimistic" it could soon finalize a deal on future ties with the United States, but repeated a call for Washington to address the legacy of massive nuclear testing in the 1940s and 50s. The Marshall Islands is one of three sparsely populated Pacific island nations covered by so-called Compacts of Free Association (COFAs) with the United States. The foreign minister of the Marshall Islands called in July for more U.S. money to deal with the nuclear legacy to enable the renewal of its COFA, the economic terms of which expire on Sept. 30. Marshall Islands President David Kabua told the annual United Nations General Assembly in New York his country wanted to continue its free association with the United States but Washington "must realize that the Marshallese people require that the nuclear issue will be addressed." Chief U.S. negotiator Joseph Yun has proposed Congress approve the total amount by Sept. 30, even without a final agreement with the Marshall Islands.

Persons: David Kabua, MOUs, Joseph Yun, East Asia Daniel Kritenbrink, Joe Biden, David Brunnstrom, Lincoln Organizations: UNITED NATIONS, Reuters, Marshall, Free Association, Pacific, United Nations General Assembly, Chief, East Asia, Marshall Islanders, U.S, White Locations: United States, Washington, Marshall, U.S, Micronesia, Palau, China, Pacific, New York, Bikini

☆ Turbulence in China’s top ranks raises questions about Xi Jinping’s rule
▼ + stars: | 2023-09-19 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

Defense Minister Li Shangfu has not been seen in public for three weeks, sparking speculation he is under investigation. Both Li and Qin serve among China’s five state councillors, a senior position in the cabinet that outranks a regular minister. Li also sits on the Central Military Commission, a powerful body headed by Xi that commands the armed forces. China's Defence Minister Li Shangfu gives a speech during the Moscow Conference on International Security on August 15. Last week, as speculation mounted over the whereabouts of the defense minister, Xi called for unity and stability within the military during an inspection in China’s northeast.

Persons: China’s, Li Shangfu, Weeks, Qin Gang, Xi, Li, Qin, outranks, “ What’s, ”, Drew Thompson, Xi Jinping, James Char, Lloyd Austin, Alexander Nemenov, Xi’s, Deng Yuwen, ” Rahm Emanuel, Agatha Christie’s, “, –, Craig Singleton, General Zhang Youxia, Zhang, He’s, Thompson, they’re, ” Thompson, Mao Zedong, Char, …, ” Char, Jinping Organizations: Hong Kong CNN —, Defense, Foreign, Central Military Commission, People’s Liberation Army Rocket Force, Wall Street Journal, Communist Party, National University of Singapore, Rajaratnam, of International Studies, Belarus ’, US, Singapore’s Navy, China's, Conference, International Security, Getty, Twitter, Foundation for Defense of Democracies, Washington DC, Development Department, Rocket Force, Equipment Development Department Locations: China, Hong Kong, United States, Washington, Beijing, Singapore, Moscow, Belarus, Minsk, AFP, Japan, Soviet, Sichuan, “

☆ New Zealand should use diplomacy to avert any conflict in Taiwan Strait -PM
▼ + stars: | 2023-09-19 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

Chris Hipkins speaks to members of the media, after being confirmed as the only nomination to replace Jacinda Ardern as leader of the Labour Party, outside New Zealand's parliament in Wellington, New Zealand, January 21, 2023. REUTERS/Lucy Craymer//File Photo Acquire Licensing RightsWELLINGTON, Sept 19 (Reuters) - New Zealand should use its diplomatic clout to try and avert a situation of armed conflict in the Taiwan Strait, Prime Minister Chris Hipkins said on Tuesday during a first debate with his main challenger ahead of a general election. "Armed conflict in the Taiwan Strait is not going to be good for the world and New Zealand should use all of its diplomatic might – whatever that might be – to try and avoid that situation," Hipkins said. In recent months, however, Hipkins' Labour government has become more vocal, raising concerns about the impact China’s assertiveness is having on the Pacific region. Luxon agreed with Hipkins that talk of hypothetical scenarios such as China and Taiwan was not helpful, however.

Persons: Chris Hipkins, Jacinda Ardern, Lucy Craymer, Hipkins, Christopher Luxon, Luxon, Clarence Fernandez Organizations: Labour Party, REUTERS, Rights, Labour, Party, Thomson Locations: New Zealand's, Wellington , New Zealand, New Zealand, Taiwan, China, Wellington, Australia, Britain, Canada, United States

China’s Foreign Ministry said Beijing was “strongly dissatisfied” with Baerbock’s comments and “firmly opposes” them. “The remarks made by Germany are extremely absurd, seriously infringe on China’s political dignity, and are an open political provocation,” Chinese foreign ministry spokesperson Mao Ning said at a regular news briefing on Monday. The Chinese Foreign Ministry often leaves out content it deems sensitive from the transcripts of its regular briefings. In June, US President Joe Biden also referred to Xi as a “dictator,” sparking a fierce backlash from Beijing. As a result of this and China’s political decisions, we need to change our approach to China,” the paper said.

Persons: Xi, ”, Berlin’s, Annalena Baerbock, “, Putin, Germany’s, Patricia Flor, Mao Ning, Xi –, Joe Biden, Jiang Zemin, Mike Wallace, Jiang, Deng Xiaoping, Mao Zedong’s, Angela Merkel, Baerbock Organizations: CNN, Fox News, China’s, Ministry, Chinese Foreign Ministry, CBS, South China, Germany’s Greens Locations: China, Germany, United States, Ukraine, Beijing, Berlin, Moscow, Taiwan, South, “ China, Australian

☆ Arms Megadeal Collapsed When China, Russia Links Emerged
▼ + stars: | 2023-09-14 | by ( Stephen Kalin | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/politics/national-security/a-saudi-defense-contractor-courted-russia-and-china-then-its-u-s-business-partners-fled-962527ad

Persons: Dow Jones, 962527ad Locations: saudi, russia

☆ Housing demand in China is still 'very soft,' says chemical company
▼ + stars: | 2023-09-12 | 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 EmailHousing demand in China is still 'very soft,' says chemical companyAloke Lohia of Indorama Ventures says housing plays a big role in the chemicals sector, and demand for the company's fibers will rise only when China's housing demand recovers.

Organizations: Indorama Ventures Locations: China

☆ In Russia's Pacific Port, Residents Await North Korea's Kim Jong Un
▼ + stars: | 2023-09-11 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +4 min

VLADIVOSTOK, Russia (Reuters) - In Russia's Pacific port, residents said the stars may have aligned for a visit by North Korean leader Kim Jong Un that the United States fears could lead to more weapons supplies for Russia's military in Ukraine. But state media in both North Korea and Russia have been silent. One source who spoke on condition of anonymity told Reuters that a Kim visit was expected in coming days. Russia's Interfax news agency citied several unidentified sources as saying that Kim was due to visit Russia's far east shortly. NORTH KOREADuring the Cold War, Moscow supported North Korea though relations were complicated when China's Mao Zedong split with the Kremlin over its aim for peaceful coexistence with the West.

Persons: Kim Jong, Vladimir Putin, Kim, YTN, Fyodor, Putin, Nikolai, China's Mao Zedong, Jake Sullivan, Yelena, Sergei Shoigu, Svetlana, Guy Faulconbridge, Mark Trevelyan, Nick Macfie Organizations: North, New York Times, Reuters, Communist, Red Army, Kremlin, West, United, White House National, U.S, Russian Defence Locations: VLADIVOSTOK, Russia, United States, Ukraine, Kim's, North Korea, Pacific, Vladivostok, Moscow, Russia's, South Korean, KOREA, Soviet Union, China, Pyongyang, Korea, Khabarovsk, Russian

☆ In Russia's Pacific port, residents await North Korea's Kim Jong Un
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +4 min

VLADIVOSTOK, Russia, Sept 11 (Reuters) - In Russia's Pacific port, residents said the stars may have aligned for a visit by North Korean leader Kim Jong Un that the United States fears could lead to more weapons supplies for Russia's military in Ukraine. But state media in both North Korea and Russia have been silent. One source who spoke on condition of anonymity told Reuters that a Kim visit was expected in coming days. Russia's Interfax news agency citied several unidentified sources as saying that Kim was due to visit Russia's far east shortly. NORTH KOREADuring the Cold War, Moscow supported North Korea though relations were complicated when China's Mao Zedong split with the Kremlin over its aim for peaceful coexistence with the West.

Persons: Kim Jong, Vladimir Putin, Kim, YTN, Fyodor, Putin, Nikolai, China's Mao Zedong, Jake Sullivan, Yelena, Sergei Shoigu, Svetlana, Guy Faulconbridge, Mark Trevelyan, Nick Macfie Organizations: North, New York Times, Reuters, Communist, Red Army, Kremlin, West, United, White House National, U.S, Russian Defence, Thomson Locations: VLADIVOSTOK, Russia, United States, Ukraine, Kim's, North Korea, Pacific, Vladivostok, Moscow, Russia's, South Korean, KOREA, Soviet Union, China, Pyongyang, Korea, Khabarovsk, Russian

☆ In cat and mouse game, Philippines resupplies troops in South China Sea atoll
▼ + stars: | 2023-09-09 | by ( Jay Ereno | ) www.reuters.com time to read: +3 min

[1/3] Journalists onboard a Philippines Coast Guard ship take photos of a China Coast Guard vessel, during a resupply mission for troops stationed at a grounded Philippines ship, in the South China Sea, September 8, 2023. NO ARCHIVES Acquire Licensing RightsSOUTH CHINA SEA, Sept 9 (Reuters) - The Philippines has completed a supply mission for troops stationed in a rusty World War Two-era ship, but not without a usual cat and mouse chase with Chinese vessels in the South China Sea. In another instance, a Philippine ship was surrounded by a Chinese coast guard vessel and three maritime militia vessels. One of the Chinese ships was also seen heading dangerously close to the Philippine vessel which Reuters was onboard, while several Chinese militia vessels tried to block its path. "We always encounter dangerous manoeuvres, shadowing activities, blocking not only from China coast guard vessels, but also from China militia vessels," Philippine Coast Guard commanding officer Emmanuel Dangate told reporters after the mission.

Persons: Jay Ereno, Thomas Shoal, Emmanuel Dangate, Jay Ereño, Neil Jerome Morales, Clelia Organizations: Journalists, Philippines Coast Guard, China Coast Guard, REUTERS, CHINA SEA, Reuters, Chinese Coast Guard, Philippine Coast Guard, BRP, BRP Sierra Madre, U.S . Navy, China, Thomson Locations: Philippines, South China, Philippine, China, BRP Sierra, U.S, China's, Malaysia, Vietnam, Brunei, Taiwan

☆ American economic power is potent but unstable
▼ + stars: | 2023-09-08 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +8 min

LONDON, Sept 8 (Reuters Breakingviews) - For the past 15 years, the iPhone has been a totem of U.S. economic power. If the country is cooling on the $2.8 trillion company, it’s a potent indicator of increasingly frosty relations with the United States. Perhaps most significantly, the U.S. government realised it could use the internet to spy on adversaries and the financial system to subdue them. The tendency of capitalism to produce a handful of giant companies, many of them headquartered in the United States, helped successive administrations exert their authority. A complete severing of economic links between China and the United States is hard to imagine.

Persons: Norman Angell, Thomas Friedman, Vladimir Putin, Edward Snowden, Henry Farrell, Abraham Newman, Johns Hopkins SAIS, Putin, Biden, ”, Farrell, Newman, Donald Trump, ” Farrell, Allen Lane, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: Reuters, Apple, World Trade Organization, New York Times, National Security Agency, U.S . Treasury, Johns Hopkins, Georgetown University, WTO, Huawei, BNP, Biden Administration, Intel, U.S ., European, United, Thomson Locations: China, Beijing, United States, France, Russian, U.S, North Korea, Iran, New York, Washington, Sudan, Cuba, Ukraine, America, Russia, Germany, United, Europe

☆ Analysis: China's Xi Jinping skipping G20 may be part of his plan to reshape global governance
▼ + stars: | 2023-09-08 | by ( Nectar Gan | ) edition.cnn.com time to read: +8 min

Since its first leaders’ summit in 2008, China’s top leader has always attended the gathering – including by video link during the Covid pandemic. Now, “China sees the G20 space as increasingly oriented toward the US and its agenda, which Xi Jinping regards as hostile to China,” Werner said. Alternative governance structureXi last attended the G20 summit in Bali, Indonesia, in November last year, when he emerged from China’s Covid isolation and declared his return to the world stage. All the while, Xi has only made two trips abroad this year – and both are central to his attempt to reshape the global world order. Next month, the Chinese leader is expected to host the Belt and Road Forum to mark the 10th anniversary of his global infrastructure and trade initiative – a key element in Beijing’s new global governance structure.

Persons: Jinping, Premier Li Qiang, Beijing’s reticence, Xi, ”, George Magnus, I’m, I’ve, Jake Werner, ” Werner, Biden, Werner, Happymon Jacob, China’s, Shi Yinhong, Joe Biden –, Antony Blinken, Vladimir Putin –, Magnus, they’re, ” Magnus, –, “ It’s Organizations: Hong Kong CNN, Premier, China Center, Oxford University, “, Quincy Institute in, Quincy Institute in Washington DC, Pacific NATO, ”, India, New, Jawaharlal Nehru University, Divisions, Renmin University, EU, Beijing, Global Security Initiative, Global Development Initiative, Civilization Initiative, Forum, Shanghai Cooperation Organization – Locations: Hong Kong, New Delhi, China, Xi’s, India, United States, Quincy Institute in Washington, Beijing, New, Washington, Pacific, Ukraine, Moscow, Bali , Indonesia, Germany, France, Brazil, Indonesia, Johannesburg, South Africa, BRICS

Surveillance cameras are seen near an iPhone advertisement at an Apple store in Beijing, China September 7, 2023. One of the sources said they had not yet been given a deadline to cease their iPhone use. Apple and China's State Council Information Office, which handles media queries on behalf of the government, did not immediately respond to requests for comment. Bloomberg on Thursday reported that China planned to broaden the ban to state firms and agencies, citing sources. China has increasingly emphasized using locally made tech products, as technology has become a major national security issue for Beijing and Washington.

Persons: Florence Lo, China's, Tesla, Tim Cook, D.A, Davidson, Tom Forte, Yuvraj Malik, Jaspreet Singh, Brenda Goh, Alexander Smith, Shounak Organizations: Apple, REUTERS, U.S ., Staff, China's, Information Office, Huawei Technologies, Observer, Wall Street Journal, Bloomberg, Citi, Canalys, Government, HK, Huawei, Thomson Locations: Beijing, China, HONG KONG, BEIJING, Washington, U.S, Hong Kong, Shanghai, Bengaluru

Together, experts say, these efforts aim to enhance China’s military reach, which currently includes only one operational overseas naval base in Djibouti on the Horn of Africa. “It’s a question of when – not if – China will secure its next overseas military outpost,” he said. This photo taken on August 1, 2017, shows Chinese People's Liberation Army personnel attending the opening ceremony of China's new military base in Djibouti. The Hambantota commercial port in Sri Lanka has long been considered a prime candidate for a Chinese naval base. However, China’s path to developing permanent overseas bases, if indeed that is its aim, is not straightforward.

Persons: FDD, Craig Singleton, “, –, ”, Tea Banh, FDD’s Singleton, Tang Chhin Sothy, Singleton, Xi Jinping, Stringer, ” AidData, Stephen J, Townsend, ” Townsend, Bata, Ali Bongo Ondimba, Ken Ishii, ’, ” Singleton, China’s, Aaron Favila, Isaac Kardon, Kardon, ” Kardon, BlackSky Singleton, Rob Wittman, Fu Tian, Seth Moulton, ” Moulton, Martin Meiners Organizations: South Korea CNN, People’s Liberation Army Navy, Foundation for Defense of Democracies, People’s Liberation Army, PLA, Ream, Base, CNN, China’s Ministry of Defense, Ministry of Foreign Affairs, Ream Naval Base, ” Cambodian Defense, Cambodian, Getty, Fleet, Communist Party, US, Liberation Army personnel, William & Mary University, Sri Lankan Navy, US Africa Command, Gabonese, of, Xinhua, Naval Research Academy, Carnegie Endowment, International Peace, East China Seas, China, Control, Organization, Force, Strategic, International Studies, Defense Department, Chinese Communist Party, ”, Virginia Republican, The Defense Department, Qingdao Port, People's Liberation Army Navy, China News Service, America, Pentagon, US Defense Department Locations: Seoul, South Korea, China, Beijing, Washington, Cambodia, Argentina, Cuba, Djibouti, of Africa, Africa, West Asia, Gulf, Thailand, United States, Preah Sihanouk, AFP, Horn of Africa, “, South, Taiwan, Virginia, —, Sri Lanka, Bata , Equatorial Guinea, Gwadar, Pakistan, Kribi, Cameroon, Ream, Vanuatu, Nacala, Mozambique, Nouakchott, Mauritania, Colombo, Equatorial Guinea, Gabon, West Africa, South China, East Asia, East, Asia, Washington In Washington, Nanchang, Qingdao, Shandong province, Massachusetts

President Biden had bet that high-level dialogue could help manage an escalating rivalry over trade, technology and the status of Taiwan. After logging all those miles, the question now is whether China will reciprocate by sending senior Chinese ministers to Washington. The United States has publicly invited China’s foreign minister, Wang Yi, but he has yet to accept. The last senior Chinese official to travel to Washington was China’s commerce minister, Wang Wentao, who visited in late May. China has much to gain from dispatching officials to the United States.

Persons: Gina Raimondo, Biden, Antony J, Blinken, Janet L, John Kerry, Wang Yi, Wang Wentao, China’s, Xi Jinping Organizations: Taiwan, United Locations: China, Beijing, Washington, United States, San Francisco

☆ Guangzhou eases mortgage rules as China ramps up efforts to revive property sector
▼ + stars: | 2023-08-30 | by ( ) www.cnbc.com time to read: +4 min

Guangzhou on Wednesday became the first major Chinese city to announce an easing of mortgage curbs as the government ramps up efforts to revive the crisis-hit property sector and shore up the sputtering economy. Hong Kong's Hang Seng Mainland Property Index rose as much as 3.3% after the Guangzhou city government's announcement. Like its peers, the company has been hurt by a drop in margins as property sales and the value of the homes themselves plummeted as the economy slowed. BANKS MARGINThe mortgage rate cuts will add to margin pressure on banks. China's benchmark banking sector index fell 1.04% after the Guangzhou mortgage announcement while China's CSI300 index gained 0.02%.

Persons: Jackson Wang, Wang, I'm, Raymond Cheng, Vivian Xue Organizations: Guangzhou, Wednesday, Hang Seng Mainland, Country Garden, provident, CGS, CIMB Securities, APAC, Fitch, Reuters Locations: Beijing, Guangzhou, Shanghai, Shenzhen, Hang Seng, Linyi, China, Hong Kong

☆ One part of China’s consumer market is holding up against a broad decline
▼ + stars: | 2023-08-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Customers enjoy food at a new Costco store in Shanghai on the first day of its trial operation on March 10. China News Service | China News Service | Getty ImagesBEIJING — If retail sales slowed this summer, it hasn't felt that way in parts of China. In the weeks around early July, New York residents David and Susan Schwartz visited three Costco stores, known as warehouses, on the outskirts of Shanghai and the neighboring city of Suzhou. China's retail sales slowed to a 2.5% year-on-year increase in July, adding to growing uncertainty about the country's future growth. Chris Reitermann CEO, Ogilvy Asia Pacific and Greater ChinaThe massive property market, where the majority of household wealth is stored, accelerated its decline in July.

Persons: hasn't, Susan Schwartz, David Schwartz, David, Susan, Malin, Goetz, Kate Spade, they're, Chris Reitermann, Ogilvy's Reitermann, Daniel Zipser Organizations: Costco, China News Service, Getty, BEIJING, U.S, Ogilvy Asia Pacific, CNBC, McKinsey Global Institute, Media, McKinsey Locations: Shanghai, China, New York, Suzhou, U.S, Hangzhou, Ningbo, York, Greater China

☆ Morning Bid: Quietly absorbing one more Fed hike
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +5 min

A sign is seen outside the 11 Wall St. entrance of the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2021. Early Tuesday, futures priced almost a two-thirds chance of that additional quarter-point move in November. And yet - perhaps with the uncertainty dissipating, the economy still robust and bond markets better priced - world markets appear to be taking the tighter odds in their stride. More impressively in the circumstances, restive bond markets calmed down and bond yields continued to dial back from their highest in over a decade last week. Asia bourses more widely and European indices were higher, while Wall St futures were flat ahead of the open.

Persons: Brendan McDermid, Mike Dolan, Jerome Powell's, Jackson, Gina Raimondo, China's, Idalia, Michael Barr, JM Smucker, Susan Fenton Organizations: New York Stock Exchange, REUTERS, Atlanta, Overseas, U.S . Commerce, Garden Holdings, Wall, U.S, Dallas Fed, Federal, Treasury, HP, Reuters Graphics, Reuters Graphics Reuters, Thomson, Reuters Locations: New York, U.S, Washington, Beijing, China, HK, Asia, Florida's, Coast, Cuba

☆ Country Garden's cash flow in focus as troubled firm set to report $7.5 bln loss
▼ + stars: | 2023-08-29 | by ( Clare Jim | ) www.reuters.com time to read: +4 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Country Garden shares were down over 3% in early trade on Wednesday. It has already flagged a net loss of up to 55 billion yuan ($7.55 billion) in the first six months, a staggering slide from the 6.7 billion yuan loss it posted in the second half of 2022 and from the net profit of 1.9 billion yuan it posted a year earlier. JP Morgan has estimated it would cost about 316 billion yuan to finish all the company's projects under construction, including both sold and unsold flats. On Tuesday, Country Garden proposed adding a 40-day grace period for the repayment of a 3.9 billion yuan private onshore bond due Saturday.

Persons: Aly, HONG KONG, JP Morgan, Clare Jim, Miral Organizations: Shanghai Country Garden, REUTERS, Garden Holdings, Garden, HK, Kingboard Holdings, Country Garden, China International Capital Corporation, City, China Overseas Land & Investment, Thomson Locations: Shanghai, China, HONG, HK, Hong Kong, Guangzhou, Malaysia

☆ Morning Bid: Beijing tries new ways to lift moribund markets
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Wayne ColeChinese blue chips were enjoying a rare rally on Monday after Beijing rolled out more measures to support the market. If sustained that would be the second-biggest daily gain this year, which just goes to show how moribund the market has been. Reuters GraphicsElsewhere, Wall Street stock futures are a shade firmer with the market seemingly relieved that Fed Chair Powell wasn't out-and-out hawkish. So the onus is on the data to show a cool-down, or risk another rate hike. A result like that would see markets again scale back the risk of another Fed hike and offer a much-needed lift to Treasuries, where two-year yields are threatening the year's top - and a major chart bulwark - at 5.12%.

Persons: Wayne Cole, China Evergrande, Gina Raimondo, Powell wasn't, Martin Floden, Fed's Michael Barr, Edmund Klamann Organizations: China, HK, . Commerce, Wall Street, Fed, Atlanta Fed, PMI, payrolls, JPMorgan, Thomson Locations: Wayne, Beijing, Atlanta, Hollywood

☆ US-Sino tensions help spawn China card game craze
▼ + stars: | 2023-08-28 | by ( Yew Lun Tian | ) www.reuters.com time to read: +4 min

[1/4] Amateur players take part in a competition of guandan, a poker-like card game, in Beijing, China August 13, 2023. Total U.S.-based venture-capital investment in China plummeted to $9.7 billion last year from $32.9 billion in 2021, PitchBook data shows. "In finance, information is currency," said Yang, for whom a game of guandan has become a standard gambit before wining and dining local officials. Yu Longze, a broker based in Beijing, said his boss this month ordered all staff to learn the game. In April, the ruling Communist Party's anti-graft watchdog censured one of its officials in the eastern province of Anhui for playing guandan during a training course, among other misdeeds.

Persons: Yang Yiming, Joe Biden, Xi Jinping, Yang, Yu Longze, Huang, Hua Min, Li Keshu, Yew Lun, John Geddie, Clarence Fernandez Organizations: REUTERS, Rights, China's, Total U.S, Reuters, Thomson Locations: Beijing, China, Rights BEIJING, United States, Texas, Anhui

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