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☆ A video game company made a bot the CEO, and its stock climbed
▼ + stars: | 2023-03-15 | by ( Grace Kay | ) www.businessinsider.com time to read: +2 min

NetDragon Websoft announced last year it had appointed a bot as the CEO of its flagship subsidiary. It said the bot will increase efficiency and make key decisions for the gaming company. In August, the Chinese gaming company NetDragon Websoft announced it had appointed an "AI-powered virtual humanoid robot" named Tang Yu as the chief executive of its subsidiary, Fujian NetDragon Websoft. NetDragon stock has since outperformed the Hang Seng Index, which tracks the biggest companies listed in Hong Kong, per The Hustle. NetDragon, founded in 1999, developed several multi-player games including "Eudemons Online", "Heroes Evolved" and "Conquer Online" as well as China's first online gaming portal, 17173.com.

☆ Xi adds oversight risk to China EV battery growth plans
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +5 min

Three battery industry executives - including two at CATL - and two people close to regulators working with the industry told Reuters they understood Xi’s remarks as a warning to both the company and the wider battery industry. Consultant Rystad Energy estimates that battery production capacity in China will reach 1,338 gigawatt hours (GWh) by year end, up 23%. But EV sales in China have started to slow, prompting CATL to offer discounts to smaller EV makers in China in February in exchange for locking in future orders. EXCESS CAPACITY RISKZeng told investors in May that the recent wave of investment worth billions of dollars in battery production could leave excess capacity as technology evolves. CATL told investors that the partnership, which it said was based on "commercial considerations" has been moving ahead.

China's four new vice premiers:Ding Xuexiang, 60, is the first-ranked vice premier who also sits in the ruling Communist Party's Politburo Standing Committee, China's top echelon of power. Wang Zhigang, 65, remains minister of science and technology. Huai Jinpeng, 60, remains minister of educationPan Yue, 62, remains head of the National Ethnic Affairs CommissionWang Xiaohong, 65, remains minister of public securityChen Yixin, 63, remains minister of state security. Considered a Xi ally, he had worked with Xi when the latter was party chief of Zhejiang province from 2002-2007. Tang Dengjie, 63, remains minister of civil affairsHe Rong, 60, remains minister of justiceWang Xiaoping, 59, remains minister of human resources and social securityWang Guanghua, 59, remains minister of natural resourcesHuang Runqiu, 59, remains minister of ecology and environmentNi Hong, 60, remains minister of housing and urban-rural developmentLi Xiaopeng, 63, remains minister of transportLi Guoying, 63, remains minister of water resourcesTang Renjian, 60, remains minister of agriculture and rural affairsHu Heping, 60, remains minister of culture and tourismMa Xiaowei, 63, remains head of the National Health CommissionPei Jinjia, 59, remains minister of veterans affairsWang Xiangxi, 60, remains minister of emergency managementHou Kai, 60, remains auditor-general of the National Audit OfficeReporting by Yew Lun Tian, Ziyi Tang, additional reporting by Albee Zhang; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

☆ Column: China widens renewable energy supply lead with wind power push
▼ + stars: | 2023-03-01 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

China added more wind generation capacity in the past two years than over the previous seven, and in 2022 generated 46% more wind power than all of Europe, the second largest wind generation market, according to data from think tank Ember. MAJOR MILESTONESWhile China has deployed record volumes of both solar and wind power capacity over the past decade, wind generation capacity has grown more steeply than solar capacity since 2020. For industrial scale electricity generation, wind power is often preferred over solar due to the ability for wind turbines to generate electricity around the clock, while solar power generation drops off as the sun sets. Beyond cementing China's place in the international green energy hierarchy, the climb in wind power capacity has helped redraw the energy mix across several key provinces. China’s wind power generation by key ProvinceIn addition, higher generation of renewable power has helped cap power costs for consumers just as the prices of coal and natural gas have pushed sharply higher on international markets.

☆ Britain's BrewDog aims to put Punk IPA on the map in China
▼ + stars: | 2023-02-20 | by ( Sarah Young | ) www.reuters.com time to read: +2 min

Punk IPA, Lost Lager, Elvis Juice and Hazy Jane have helped turn BrewDog into a household name in Britain. "I think the internationalisation of our business is kind of very key to our IPO plans," BrewDog founder and chief executive James Watt told Reuters. While BrewDog has had a presence in China since 2015, Watt said it had been hard to scale up without a local partner. It's a similar model to a partnership deal BrewDog signed with Asahi in Japan, which saw sales there double in its first year. In 2021, the last year for which results are available, it made an operating loss of 5.5 million pounds ($6.6 million) on revenues of 286 million pounds.

☆ Pressure on China’s factories grows as U.S. demand falls
▼ + stars: | 2023-02-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

China News Service | China News Service | Getty ImagesBEIJING — For some factories in China, it's not full steam ahead after the end of zero-Covid. The official Lunar New Year holiday in China ended Jan. 27, but the travel period runs until Feb. 15. He expects U.S. consumer demand to pick up later this year. China's exports to the U.S. barely grew in 2022, and the U.S. economy is expected to slow further in 2023. watch nowWhen asked by CNBC in January, China's customs administration acknowledged the pressure on China's exports from slowing external demand, and noted rising risks of a global recession.

☆ China issues heavy fog warnings, some shipping suspended
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Feb 7 (Reuters) - China issued dangerous heavy fog warnings for many regions and shipping was suspended in the Qiongzhou Strait, an important economic transport hub near Hainan, according to state and local media on Tuesday. China has a four-tier, color-coded weather-warning system, with red representing the most severe warning, followed by orange, yellow and blue. Multiple areas in China's southeastern Fujian also issued alerts for heavy fog, with ferry crossings between Xiamen and Zhangzhou suspended, according to CCTV. Fog will continue in the mornings and evenings of Qiongzhou Strait until Friday, and conditions for navigation will be poor, CCTV reported citing the national weather forecast bureau. In December, one person was killed when more than 200 vehicles were involved in a pile-up on a bridge in China's central Zhengzhou city due to heavy fog.

☆ A Chinese invasion of Taiwan is a real and dangerous possibility that could wreck armies and ruin the global economy worse than the 1929 stock market crash
▼ + stars: | 2023-01-29 | by ( Jacob Zinkula | Jake Epstein | ) www.businessinsider.com time to read: +11 min

Experts say the military and economic impacts for could be catastrophic, and not just for China and Taiwan. Whether it's 2030, 2027, 2025, or even this year, experts say it could wreak havoc on the global economy and take a devastating toll on the militaries involved. CFOTO/Future Publishing via Getty ImagesThough China's actions have stirred fears of a possible Chinese attack, the US military assesses that an invasion of Taiwan would prove extremely difficult for the Chinese military. Threats to one company could spell catastropheLooking at this situation from an economic perspective, a Chinese invasion of Taiwan could mean trillions of dollars in losses and a serious global recession. Others have argued it's in the self interest of both China and the United State to overplay the likelihood of a Taiwan invasion.

☆ Most Chinese provinces set growth targets of above 5% in 2023
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +3 min

BEIJING, Jan 18 (Reuters) - Most Chinese provinces aim for economic growth of above 5% this year, pledging to focus on boosting consumption following a lifting of stringent COVID curbs, according to local government work reports. Zhejiang province, which is a "demonstration zone" for China's common prosperity campaign, has set a more than 5% growth target this year, after missing its "around 6%" goal by half in 2022. Growth is expected to rebound to 4.9% in 2023, according to a Reuters poll. China is likely to aim for economic growth of at least 5% in 2023 to keep a lid on unemployment, policy insiders said. The tropical southern province of Hainan set an ambitious target of around 9.5% for 2023 growth, after the island's main tourist hub, Sanya, locked in tens of thousands of tourists last August.

☆ China zero-Covid: Local governments reveal billions spent on fighting the pandemic
▼ + stars: | 2023-01-16 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Last week, local governments across China began to convene for annual legislative sessions laying out their respective policy goals for the year. Economists estimated the entire year’s deficit could hit a record 10 trillion yuan ($1.4 trillion) in 2022. Beijing, the nation’s capital, said Sunday that it had spent nearly 30 billion yuan ($4.5 billion) last year on preventing and controlling Covid. The city didn’t reveal its 2021 Covid spending. During the past three years, the bills amounted to 30.5 billion yuan ($4.6 billion.)

☆ As Russia's only aircraft carrier falls apart, some Russians want to undo a shady ship deal with China 25 years ago
▼ + stars: | 2023-01-16 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

Russia's sole aircraft carrier has been sidelined for years and may not see action again. A Russian lawmaker has proposed trying buying China's Liaoning aircraft carrier as a replacement. Liaoning began life as a Soviet carrier, but China acquired it in a shady sale in the late 1990s. Chinese aircraft carrier Liaoning during a drill in the western Pacific in April 2018. A 40-year-old aircraft carrier in the Black Sea won't provide much value.

☆ China’s local governments set 2023 growth targets, offering clues on economic recovery
▼ + stars: | 2023-01-12 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The meetings will culminate in the national parliamentary session to be held in March, in which the premier is expected to disclose the nation’s GDP growth target. So far, a group of government economists and international analysts have said they expect Beijing to set a growth target of above 5% in 2023. On Thursday, Zhejiang province, another major economic powerhouse, announced it’s targeting an expansion of more than 5% in 2023. On Wednesday, Shanghai, the most affluent city in mainland China, announced it would aim for 5.5% growth this year. On the same day, Fujian, Sichuan and Hebei provinces all disclosed growth targets of 6% for 2023.

☆ Travelers rush to take advantage of China reopening
▼ + stars: | 2023-01-08 | by ( ) www.cnbc.com time to read: +8 min

After years of separation from his wife in mainland China, Hong Kong resident Cheung Seng-bun made sure to be among the first in line following the reopening Sunday of border crossing points. Those crossing between Hong Kong and mainland China, however, are still required to show a negative COVID-19 test taken within the last 48 hours — a measure China has protested when imposed by other countries. Hong Kong media reports said around 300,000 travel bookings from the city to mainland China have already been made, with a daily quota of 60,000. "I've been under isolated quarantine for six times in different cities (in mainland China)," said Ivan Tang, a Hong Kong business traveler. Meanwhile, more foreign governments are imposing testing requirements on travelers from China — most recently Germany, Sweden and Portugal.

China has said it only counts deaths of COVID patients caused by pneumonia and respiratory failure as COVID-related. The holiday travel rush is expected to last for 40 days, from Jan. 7 to Feb. 15, the Ministry of Transport said this week. China's official death toll of 5,246 since the pandemic began compares with more than 1 million deaths in the United States. The United States, India, Italy, Japan and Taiwan said they would require COVID tests for travellers from China. Omicron was still the dominant strain in China, Chinese health officials said this week.

☆ Taiwan's remote islands are on the frontline with China — sometimes only a few hundred yards from Chinese troops
▼ + stars: | 2022-12-28 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +10 min

Taiwan is roughly 100 miles from mainland China, but some Taiwanese islands are much closer. Taiwan's outlying islands would stand little chance against China, but they wouldn't be easy to take. While celebrated, this year's anniversary was also a reminder of Taiwan's islands' growing vulnerability to Chinese attack. Taiwan's islands are much easier to reach. Tourists watch a Chinese military helicopter fly over Pingtan Island, one of mainland China's closest points to Taiwan, on August 4.

☆ China's CATL to provide EV batteries for Honda starting in 2024
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

[1/2] People walk past the R&D centre of Contemporary Amperex Technology Ltd (CATL) in Ningde, Fujian province, China, December 16, 2016. REUTERS/Jake Spring/File PhotoTOKYO, Dec 8 (Reuters) - Honda Motor Co (7267.T) said on Thursday that Chinese battery giant CATL (300750.SZ) would supply batteries for seven years for its electric vehicles (EV) in China. The Japanese automaker said the Chinese firm would provide 123 GWh worth of batteries starting in 2024 through 2030 for the Honda's e:N Series. Honda said at that time it would launch its first EV with a CATL battery in China in 2022 and would expand the partnership with stable EV battery supply globally in the future. It unveiled the second model of its new China-only EV lineup in November as part of its effort to roll out the e:N Series.

☆ Factbox: Saudi-China energy, trade and investment ties
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +4 min

Below are some details about oil, trade and security relations between China and Saudi Arabia. OIL TRADEChina is Saudi Arabia's largest trading partner, with bilateral trade worth $87.3 billion in 2021. Chinese exports to Saudi Arabia reached $30.3 billion, while China's imports from the kingdom totalled $57 billion. REFINERIESAramco in early 2022 made a final investment decision to build a $10 billion refinery, petrochemical complex in northeast China, marking its single largest investment in China. Named Huajin Aramco Petrochemical Company, the joint venture groups Aramco, Huajin Chemical Industries Group Corporation (000059.SZ) -- a unit of defence conglomerate Norinco-- and Panjin Xincheng Industrial Group.

☆ Analysis: As economy stutters, China's youth seek safety of civil service
▼ + stars: | 2022-12-01 | by ( Eduardo Baptista | ) www.reuters.com time to read: +6 min

The wishes of Lau's parents that she had a "safe" civil service career suddenly made more sense. Alicia Garcia-Herrero, chief economist for Asia Pacific at Natixis, says the preference for civil servant jobs has surged. On social media, young Chinese refer to the civil service as "the end of the universe," meaning the safest place around in such an environment. "Being a civil servant gives you a lot of stability," she said. “The present state of the job market has definitely increased my desire to become a civil servant," she said.

[1/2] Chinese Yuan and U.S. dollar banknotes are seen behind illuminated stock graph in this illustration taken February 10, 2020. His contract manufacturing business with Russia has been small in the past, but now he's preparing to invest in warehousing there. He sees a win-win situation in Chinese exporters reducing their currency risks and payment becoming more convenient for Russian buyers. The U.S. Treasury declined to comment on the yuan's growing presence in Russia. ($1 = 7.2074 Chinese yuan renminbi)Editing by Vidya Ranganathan and Pravin CharOur Standards: The Thomson Reuters Trust Principles.

☆ Five countries, other than China, most dependent on the South China Sea
▼ + stars: | 2022-11-18 | by ( Sean M. Holt | ) www.cnbc.com time to read: +11 min

Territorially, there are seven claimants to the South China Sea: China, Brunei, Indonesia, Malaysia, the Philippines, Taiwan and Vietnam. Analysts name the top five countries, other than China, that are most dependent on the South China Sea. Aerial view of fishing boats setting sail to South China Sea for fishing on August 16, 2022 in Yangjiang, Guangdong Province of China. "Although they claim more than half of the South China Sea, China has pushed claimant states such as Vietnam out of traditional fishing waters and more into the South China Sea, causing excessive overfishing." South KoreaSouth Korea is "intentionally quiet about the South China Sea" as it wants to "maintain favor with China," Graham said, citing Seoul's primary focus on the North Korean issue.

☆ Xi shook up the power order in China, but the world should expect little change — because Xi is still the complete puppet master, 2 experts say
▼ + stars: | 2022-11-08 | by ( Matthew Loh | ) www.businessinsider.com time to read: +7 min

Last month, Xi Jinping announced who would join him to be the top seven officials in China. Kevin Frayer/Stringer/Getty ImagesBoosted to the second-in-command spot by Xi, Li is thought to be one of the president's closest protégés. Having been the lowest-ranked member of the previous standing committee, Zhao has jumped four positions to get to his current role. It indicates to me that Xi Jinping is satisfied with the work that Zhao has done," said Loh. "Xi Jinping makes it very clear.

Xi Jinping consolidated his power in China with a reshuffle of the politburo standing committee. He also used the event to unveil the new members of the politburo standing committee. He is a new entry to the standing committee, and at 60, is its youngest member. He is another new member of the politburo standing committee and will help lead the central commission for discipline inspection. He previously worked as the party leader in Yan'an, which once served as the headquarters of the party before it took control of the whole country.

☆ He Lifeng: China's expected new economic tsar has big shoes to fill
▼ + stars: | 2022-10-30 | by ( Kevin Yao | ) www.reuters.com time to read: +3 min

BEIJING, Oct 30 (Reuters) - He Lifeng, head of China's state planning agency, is likely to succeed the country's economic tsar Vice Premier Liu He in March, but may struggle to maintain his predecessor's policy clout. That paves the way for He's expected promotion as the 70-year-old Liu is due to step down in March. The departing Liu, Xi's top economic adviser and a childhood friend, holds an unusually powerful portfolio: it covers economic policy, the financial sector and trade ties with Washington, overshadowing the role of outgoing Premier Li Keqiang. Some analysts say part of the expanded role that Liu built up during his time as economic tsar could be taken over by other top officials. "If He Lifeng does indeed get the job, his portfolio will overlap with that of the new Premier, Li Qiang," Julian Evans-Pritchard at Capital Economics said in a note.

☆ Analysis: Need for speed: China Xi's new generals offer cohesion over possible Taiwan plans
▼ + stars: | 2022-10-27 | by ( Greg Torode | ) www.reuters.com time to read: +5 min

Although the Politburo's seven-man Standing Committee would make the ultimate decision on any Taiwan action, the Central Military Commission would forge and execute the battle plan, eight Asian and Western military attaches say. "If Xi Jinping is going to the pull the trigger on Taiwan, then he can't afford any dissent from the Central Military Commission," said Singapore-based strategic adviser Alexander Neill. That has always been Chinese thinking on Taiwan, and the Ukraine stalemate has confirmed the need to avoid getting bogged down in a slow logistical build up." Crucially, Li has experience with the People's Liberation Army's digitised strategic support forces, a body that covers electronic, cyber and space warfare. He was promoted to the position after his command of the reformed Eastern Theatre Command, which is responsible for Taiwan operations.

Promoted despite facing difficulties in leading China's capital, Cai is much like another Xi ally elevated to the Standing Committee, Shanghai Party Secretary Li Qiang. Cai and Li on Sunday joined a long list of Shanghai and Beijing Party bosses that have been promoted to the Standing Committee. Cai was promoted in 2014 to general office deputy director at the Beijing-based National Security Commission, a body founded and chaired by Xi. In 2017, just weeks after the 19th Party Congress, Cai faced loud public criticism over the forced eviction of migrant workers on Beijing's outskirts. A decade later, during a Beijing Party committee meeting on cyberspace and ideology hosted by Cai, no mention was made of citizens using social media to hold officials accountable.

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