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☆ China to resume 15-day visa-free entry for citizens of Singapore and Brunei
▼ + stars: | 2023-07-24 | by ( Charmaine Jacob | Lisa Lucas | ) www.cnbc.com time to read: +1 min

Travelers arrive at the departure hall in Singapore Changi airport in Singapore on March 31, 2023. SINGAPORE — China will reinstate its 15-day visa-free entry for citizens of Singapore and Brunei from July 26, according to the embassies of both countries. Singapore citizens will be able to enter China without a visa for 15 days if they are there for business, tourism, family visits and transit, the Chinese embassy to Singapore said. Singapore and China have long enjoyed strong economic ties, with leaders from both sides meeting this year. The resumption of the visa-free entry policy "will facilitate people and business flows between our countries and pave the way for deeper bilateral cooperation," Singapore's Ministry of Foreign Affairs said in a Facebook post.

Persons: Lee Hsien Loong, Xi Jinping, Lawrence Wong, Li Qiang Organizations: Ministry of Foreign Affairs Locations: Singapore Changi, Singapore, SINGAPORE — China, Brunei, China, Beijing

☆ Beijing Offers Love, but Chinese Entrepreneurs Aren’t Buying It
▼ + stars: | 2023-07-22 | by ( Li Yuan | More About Li Yuan | ) www.nytimes.com time to read: +1 min

In the darkest moments of the financial crisis in 2008, former Chinese Premier Wen Jiabao lectured a group of U.S. government officials and business executives in New York. “In the face of economic difficulties,” he said, “confidence is more precious than gold.”The Chinese economy then was teetering. Today it’s sputtering, facing the dimmest prospects in decades, and China’s leaders are learning the hard way exactly what Mr. Wen meant. Beijing unveiled a 31-point set of guidelines on Wednesday to bolster the confidence of the private sector. But in private, others I interviewed dismissed the party’s pep talk in words that can be best translated as, “Save it for the suckers.”

Persons: Wen Jiabao, ”, Wen Organizations: “, Communist Party Locations: New York, Beijing, Hong Kong

REUTERS/Stringer/File PhotoSummary Countries at odds over which should pay climate financeEU wants China to contribute to climate fundsChina among countries not currently obliged to payBRUSSELS/BEIJING, July 21 (Reuters) - Record-breaking heat in China. The EU, today the biggest contributor of climate finance, has lobbied to expand the pool of donor countries that provide it. Climate finance refers to money that wealthy countries pay toward helping poorer nations reduce CO2 emissions and adapt to a hotter, harsher world. Advocates for the change argue that an expansion needs to happen before a new - and, likely, far bigger - U.N. target for climate finance kicks in after 2025. "It would earn China diplomatic clout, and pressure Western donors to raise their stakes on climate finance," he said.

Persons: Stringer, John Kerry, Janet Yellen, Kerry, Li Qiang, Pa'olelei Luteru, Luteru, Byford Tsang, Kate Abnett, Valerie Volcovici, Katy Daigle, Stephen Coates Organizations: REUTERS, BRUSSELS, U.S, Union, Reuters, EU, United Arab Emirates, of Small, WHO, United, Climate Cooperation, Initiative, Bridgetown Initiative, Thomson Locations: Hangzhou, Zhejiang province, China, EU, BEIJING, COP28, Dubai, Beijing, U.S, Brazil, Saudi Arabia, Qatar, Singapore, States, United States, South Korea, U.N, Barbados, Bridgetown, Brussels

☆ 'Old friend': Henry Kissinger meets China's Xi Jinping in second surprise Beijing talks
▼ + stars: | 2023-07-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Former U.S. Secretary of State Henry Kissinger helped broker talks between then-U.S. President Richard Nixon and China's Mao Zedong, paving the way for normalized relations. Veteran U.S. diplomat Henry Kissinger met with Chinese President Xi Jinping Thursday during a surprise visit to Beijing, according to state media. The 100-year-old former U.S. Secretary of State was hosted by the Chinese premier at the Diaoyutai State Guesthouse, CCTV said in an online post. However, Reuters reported that the White House said Kissinger was not visiting China on behalf of the U.S. government. Kissinger's talks with Xi were his second unexpected meeting of the week, after the former diplomat spoke with China's Defense Minister Li Shangfu on Tuesday.

Persons: Henry Kissinger, Richard Nixon, China's Mao, Xi Jinping, Kissinger, Xi, Kissinger's, Li Shangfu Organizations: U.S, Veteran U.S, State, Xinhua, Google, U.S . State Department, Reuters, White, ., China's Defense Locations: Beijing, Diaoyutai State, China

☆ Heat Waves Grip 3 Continents as Climate Change Warms Earth
▼ + stars: | 2023-07-18 | by ( Alan Yuhas | ) www.nytimes.com time to read: +1 min

Punishing heat waves gripped three continents on Tuesday, breaking records in cities around the Northern Hemisphere less than two weeks after the Earth recorded what scientists said were likely its hottest days in modern history. Firefighters in Greece scrambled to put out wildfires, as parched conditions raised the risk of more blazes throughout Europe. Beijing logged another day of 95-degree heat, and people in Hangzhou, another Chinese city, compared the choking conditions to a sauna. From the Middle East to the American Southwest, delivery drivers, airport workers and construction crews labored under blistering skies. John Kerry, the U.S. special envoy for climate change, sought to coordinate some of the global response with the Chinese premier in Beijing, as a heat wave clutched a huge swath of China.

Persons: John Kerry Organizations: Firefighters, U.S Locations: Greece, Europe, Beijing, Hangzhou, American, China

☆ Kissinger Makes Unannounced Visit to China, Meets Defense Minister
▼ + stars: | 2023-07-18 | by ( Vivian Wang | More About Vivian Wang | ) www.nytimes.com time to read: +1 min

Henry A. Kissinger, the 100-year-old former secretary of state who has pushed the United States to take a more conciliatory approach to China, has made a surprise visit to Beijing, meeting with China’s defense minister. The previously unannounced trip by Mr. Kissinger, who more than 50 years ago helped pave the way for diplomatic ties between the United States and China during President Richard M. Nixon’s administration, coincided with a string of visits by currently serving American officials to China. On Tuesday, the day that Mr. Kissinger met with Li Shangfu, the defense minister, President Biden’s climate change envoy, John Kerry, met with the Chinese premier and top foreign policy official. But while those officials met with varying levels of chilliness or scolding from Chinese officials or state media, reflecting the geopolitical tensions, the defense ministry’s description of the meeting with Mr. Kissinger was warmer. The fact that Mr. Kissinger met with Mr. Li at all was notable: China last month rebuffed a request for Mr. Li to meet the U.S. defense secretary, Lloyd Austin, at a summit in Singapore.

Persons: Henry A . Kissinger, Kissinger, Richard M, Li Shangfu, John Kerry, Antony J, Blinken, Janet Yellen, Li, Lloyd Austin Locations: United States, China, Beijing, Singapore

☆ Kerry upholds U.S.-China ‘stability’ in symbolic Beijing visit
▼ + stars: | 2023-07-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Climate Envoy John Kerry and China's Premier Li Qiang attend a meeting at the Great Hall of the People in Beijing on July 18, 2023. Florence Lo | Afp | Getty ImagesBEIJING — In the third high-level U.S. official visit to China in about a month, U.S. special envoy for climate John Kerry emphasized efforts to stabilize the bilateral relationship. John Kerry Chinese premierThe world faces great "challenges" in responding to climate change, Li said. Earlier on Tuesday, Kerry also emphasized stability in his meeting with China's top diplomat, Wang Yi. "Biden is very committed to stability within this relationship and also to achieve efforts together, that can make a significant difference in the world," Kerry said.

Persons: John Kerry, Li Qiang, Florence Lo, Biden, Xi, Kerry, Premier Li Qiang, Li, Janet Yellen, Antony Blinken, Xi Jinping, Blinken's, Wang Yi, Nancy Pelosi, Wang Organizations: Climate, of, People, Afp, Getty, Premier, U.S, Treasury, CNBC Locations: Beijing, BEIJING, China, UAE, U.S, United States, Taiwan

July 14 (Reuters) - Emerging market equity funds are outpacing developed market rivals in attracting inflows for the first time in three years, underscoring a relatively more favourable growth outlook and expectations of faster rate cuts in many less developed markets. Refinitiv Lipper data shows money inflows into emerging market (EM) equity funds hit $30.55 billion in the first half of the year, compared with outflows of $88.65 billion from developed market equity funds. Data from the Institute of International Finance on Thursday also showed foreigners injected a staggering $22 billion net into emerging market portfolios in June, marking the highest influx since January. read moreThe case for emerging markets, analysts say, is they were ahead of developed markets in tightening monetary policy and are now beginning to reap the rewards of falling inflation, lower borrowing costs and improved growth. An over-leveraged real estate sector impedes growth," said Derek Izuel, chief investment officer and portfolio manager of the Shelton Emerging Markets Fund.

Persons: World's, Malcolm Dorson, Li Qiang, Derek Izuel, Patturaja, Vidya Ranganathan, Conor Humphries Organizations: Institute of International Finance, U.S . Fed, European Central Bank, Reuters Graphics, Reuters, Global, Shelton, Markets Fund, Thomson Locations: Hungary's, Europe, U.S, China

☆ Alibaba's Ele.me platform signs wages, safety contracts as tech crackdown ends - media
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 13 (Reuters) - Alibaba's Ele.me on Thursday became China's first delivery platform to sign collective contracts on wages and labour safety with its staff, official media reported, as Beijing signals an end to its crackdown on the tech sector. The contracts will apply to 3 million workers on the platform across 11,000 delivery stations in China, according to state-backed media Workers' Daily. The contracts "fully addressed" workers' biggest issues such as labour remuneration, protection and insurance benefits, the report said. Ele.me and service providers are also required to improve communication channels with food delivery couriers, the report added. Reporting by Brenda Goh in Shanghai and Ethan Wang in Beijing; editing by Jason Neely and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Alibaba, Ele.me's, Premier Li Qiang, Meituan, Brenda Goh, Ethan Wang, Jason Neely, Devika Organizations: Workers, Premier, Thomson Locations: BEIJING, Beijing, China, Shanghai

BEIJING, July 13 (Reuters) - China's exports contracted last month at their fastest pace since the onset three years ago of the COVID-19 pandemic, as an ailing global economy puts mounting pressure on Chinese policymakers for fresh stimulus measures. Momentum in China's post-pandemic recovery has slowed after a brisk pickup in the first quarter, with analysts now downgrading their projections for the economy for the rest of the year as factory output slows in the face of persistently weak global demand. Outbound shipments from the world's second-largest economy slumped a worse-than-expected 12.4% year-on-year in June, data from China's Customs Bureau showed on Thursday, following a drop of 7.5% in May. Imports contracted 6.8%, steeper than an expected 4.0% decline and the previous month's 4.5% fall. With exports accounting for about one-fifth of the economy and the troubled property sector for about one-third, China's prospects have dimmed for a quick recovery after COVID-related lockdowns battered the economy in 2022.

Persons: Zichun Huang, Xu Tianchen, Li Qiang, Zhiwei Zhang, Joe Cash, Ellen Zhang, Edmund Klamann Organizations: Customs, . Imports, Reuters, Capital Economics, Administration of Customs, Exports, Economist Intelligence Unit, Management, Thomson Locations: BEIJING, China, Beijing, United States, Russia

☆ China's June exports fall 12.4%, imports drop 6.8%
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

BEIJING, July 13 (Reuters) - China's exports fell 12.4% in June year-on-year, while imports contracted 6.8%, customs data showed on Thursday, suggesting manufacturers are struggling to find buyers while overseas economies wrestle with inflation and rising interest rates. A Reuters poll of economists had forecast exports to have shrunk 9.5% and imports to have fallen 4.0%. The drop in exports was the worst since the onset of the COVID-19 pandemic more than three years ago. That is less than half the rates typical throughout recent decades and creates the feel of an economy in recession. South Korean shipments to China, a leading indicator for China's imports, fell 19.0% last month, the smallest decline since October but suggesting demand for semiconductors and other components used to manufacture electronic goods remains weak.

Persons: Li Qiang, Joe Cash, Edmund Klamann Organizations: Thomson Locations: BEIJING, China

☆ Germany publishes new strategy on 'increasingly assertive' China
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +3 min

[1/3] The flags of Germany and China are seen ahead of a meeting between German Chancellor Olaf Scholz and Chinese Premier Li Qiang in Berlin, Germany, June 19, 2023. REUTERS/Fabrizio BenschBERLIN, July 13 (Reuters) - Germany published its long-awaited China strategy on Thursday, which took stock of an "increasingly assertive" Beijing and outlined possible responses such as outbound investment controls on cutting-edge technology with military use. However, it was also increasingly assertive in its attempts to change the rules-based international order with consequences for global security. Germany would expand its close relations with Taiwan while continuing to adhere to the "One China policy", which recognises the government of the People's Republic of China as the sole legal government of China. On the economy, the strategy outlined proposals to reduce critical dependencies on China, in line with what has previously been agreed by the European Union.

Persons: Olaf Scholz, Li Qiang, Fabrizio Bensch BERLIN, Chancellor Olaf Scholz's, Sarah Marsh, Andreas Rinke, Matthias Williams, Friederike Heine, Miranda Murray, Rachel More, Alex Richardson Organizations: REUTERS, European, Volkswagen, BASF, BMW, Government, Thomson Locations: Germany, China, Berlin, Beijing, West, Russia, Taiwan, People's Republic of China

☆ Yellen's latest trip helps set a new normal for the U.S.-China relationship
▼ + stars: | 2023-07-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Cabinet member to visit China in a month, setting the stage for more high-level communication between the two countries. In coming days, John Kerry, special presidential envoy for climate, also plans to visit China, he told the The New York Times. She said she told her Chinese counterparts that any curbs on U.S. outbound investments would be "very narrowly targeted." Yellen's visit this past Thursday to Sunday came about three weeks after Blinken met with Chinese President Xi Jinping in Beijing. He also leads China-U.S. economic and trade cooperation efforts, according to a state media report that described his meeting with Yellen as "constructive."

Persons: Li Qiang, Janet Yellen, Mark Schiefelbein, John Kerry, Antony Blinken, Yifan Hu, Yellen, Blinken, Xi Jinping, Scott Kennedy Organizations: U.S, Treasury, of, People, Afp, Getty, U.S . Cabinet, New York Times, CNBC, Asia Pacific, UBS Global Wealth Management, Ministry of Finance, Commerce Ministry, CBS, Scott Kennedy Center for Strategic, International Locations: Beijing, BEIJING, U.S, China, Asia

☆ Solomon Islands signs China policing deal in upgrade of ties
▼ + stars: | 2023-07-10 | by ( ) edition.cnn.com time to read: +4 min

China and the Solomon Islands on Monday signed a deal on police cooperation as part of an upgrade of their relations to a “comprehensive strategic partnership,” four years after the Pacific nation switched ties from Taiwan to China. “In just four years, the relationship between China and the Solomon Islands has developed rapidly, and we can now say that it is very fruitful,” Li told Sogavare. China will continue to provide assistance to the Solomon Islands to enhance its law enforcement capacity, according to a joint statement released by China’s state-run Xinhua news agency. China has long supported so-called South-South cooperation, which refers to cooperation between developing nations as equals for mutual benefit. Chinese telecoms giant Huawei is already building a cellular network in the Solomon Islands, financed by a $66 million Chinese EXIM bank loan.

Persons: ”, Manasseh Sogavare, Premier Li Qiang, Sogavare, Solomon, ” Li, Washington “, ’ Sogavare, Xi Jinping, ” Xi, Xi Organizations: Solomon Islands, Premier, “, US National Security Council, Xinhua, Huawei, “ Sports, Pacific Games Locations: China, Solomon Islands, Pacific, Taiwan, Beijing, United States, Australia, Taipei, Solomon, Japan, Britain, Honiara

☆ China, Solomon Islands sign policing pact in upgrade of ties
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +5 min

[1/3] Flags of Solomon Islands and China flutter near the Tiananmen Gate in Beijing, China July 11, 2023. "In just four years, the relationship between China and the Solomon Islands has developed rapidly, and we can now say that it is very fruitful," Li told Sogavare. The official added that the U.S. was committed to a strong relationship with the region and strengthening longstanding bonds with the people of Solomon Islands. Xi told Sogavare China supports more of its firms investing in the Solomon Islands and will continue to provide economic and technical assistance "without political strings attached". Chinese telecoms giant Huawei is already building a cellular network in the Solomon Islands, financed by a $66 million Chinese EXIM bank loan.

Persons: Florence Lo, Xi, Manasseh Sogavare, Premier Li Qiang, Sogavare, Solomon, Li, Washington, China's, Xi Jinping, Ethan Wang, Ella Cao, Ryan Woo, Kirsty Needham, David Brunnstrom, Himani Sarkar, Robert Birsel, Mark Heinrich, Lincoln Organizations: REUTERS, Solomon Islands, Beijing, BEIJING, Premier, U.S . National Security Council, China's, Xinhua, Huawei, Pacific Games, Thomson Locations: of Solomon Islands, China, Beijing, Florence, Taiwan, Solomon Islands, Pacific, United States, Australia, U.S, Solomon, Japan, Britain, Honiara, Sydney, Washington

☆ China's state planner holds meeting with private firms, including Baidu
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 10 (Reuters) - China's state planner said on Monday it held a meeting with private firms including Baidu (9888.HK) and LONGi Green Energy Technology (601012.SS). This is the second round of dialogue between the NDRC and private firms. Chinese Premier Li Qiang heads the State Council, or cabinet, which oversees the state planner. He has been attempting to reassure the private sector as part of his drive to re-invigorate China's post-pandemic economy. Reporting by Beijing newsroom; Editing by Jacqueline Wong and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Li Qiang, Li, Jacqueline Wong Organizations: Baidu, HK, Green Energy Technology, National Development, Reform Commission, State Council, Beijing, Thomson Locations: BEIJING

☆ Yellen's China trip yields long meetings, 'cordial' tone, but no consensus
▼ + stars: | 2023-07-10 | by ( David Lawder | ) www.reuters.com time to read: +5 min

"The accomplishment of the meeting was the meeting itself, not specific issues," said Scott Kennedy, a China economics expert at the Center for Strategic and International Studies in Washington. A senior U.S. Treasury official accompanying Yellen on her first trip to China as secretary described it as "respectful, frank and constructive," adding: "She was warmly received." Her meeting on Saturday with He, China's new economic czar, was scheduled for two hours but lasted five, followed by a "cordial" dinner, the official said. In the meantime, Yellen said the talks set the stage for more frequent U.S.-China communications at the staff level about economic issues, including areas of disagreement. A possible venue for this would be the Asia-Pacific Economic Cooperation summit in San Francisco in November.

Persons: Janet Yellen, Yellen, Lifeng, Scott Kennedy, Premier Li Qiang, Pan Gongsheng, Joe Biden's, Jake Colvin, Hong Hao, Hong, Colvin, Biden, John Kerry, Gina Raimondo, Xi Jinping, Wang Yiwei, David Lawder, Andrea Shalal, Ryan Woo, Ellen Zhang, Qiaoyi Li, Stephen Coates Organizations: . Treasury, U.S, Center for Strategic, International Studies, Global Times, Treasury, Premier, People's Bank of China, National Foreign Trade Council, Grow Investment, . Commerce, Renmin University, Economic Cooperation, Thomson Locations: Beijing, China, Washington, China's, U.S, United States, Hong Kong, Asia, San Francisco, Anchorage , Alaska

☆ 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

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

☆ 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

☆ 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

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