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HONG KONG, May 8 (Reuters) - China wants to work with the International Olympic Committee (IOC) to oppose the politicisation of sports, Premier Li Qiang said, amid demands on the sporting body to exclude athletes from Russia in the wake of its invasion of Ukraine. Premier Li made the comments at a meeting with IOC head Thomas Bach in Beijing over the weekend, according to the state-run Xinhua news agency. The Olympic Council of Asia (OCA) has already offered to let Russian and Belarusian athletes compete at the Asian Games in China this year. "Li said that China is willing to work together with the IOC to oppose the politicisation of sports and to make greater contribution to the Olympic movement," Xinhua reported. Bach said China plays an important role in maintaining world peace and promoting mutual development and IOC is willing to strengthen cooperation with China to promote the development of the Olympic movement.

☆ The US and China are on a collision course that will worsen the geopolitical economic depression, 'Dr. Doom' economist Nouriel Roubini warns
▼ + stars: | 2023-05-04 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

The US and China are on a collision course that's set to worsen a "geopolitical depression," Nouriel Roubini said. Roubini previously said a geopolitical depression will have far-reaching economic and financial consequences. "Fragmentation and decoupling are becoming the new normal, the two countries remain on a collision course, and a dangerous deepening of the ongoing 'geopolitical depression' is all but inevitable." In a column in February, Roubini warned the world has entered a geopolitical depression that will have far-reaching economic and financial consequences. "In particular, a hot war between major powers is now more likely within the next decade," Roubini wrote in February.

☆ Germany may restrict export of chip chemicals to China - Bloomberg
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +3 min

April 27 (Reuters) - Germany may limit the export of chemicals to China that are used to manufacture semiconductors as part of the government's efforts to reduce its economic exposure to the Asian economic superpower, Bloomberg news reported on Thursday. It would be the latest in steps under consideration by Germany as it reassesses ties with China. Merck KGaA (MRCG.DE) and BASF (BASFn.DE), two German chemicals majors who could be affected by the export curbs if implemented, declined comment. German Economy Minister Robert Habeck had in March suggested that Berlin could impose export restrictions to China to prevent Germany from losing its technological edge. "Export controls with regard to technology must be constantly checked, constantly expanded and constantly updated," a government spokesperson added at the time.

☆ In Beijing, Spanish PM urges Xi to speak with Ukraine's Zelenskiy
▼ + stars: | 2023-03-31 | by ( Eduardo Baptista | ) www.reuters.com time to read: +4 min

Sanchez told a news conference in Beijing he had informed Xi, who visited Moscow on March 20-21, that Spain supported the proposals made by Ukrainian President Volodymyr Zelenskiy. They include a demand to restore Ukraine's territory to the status quo before Russia's 2014 annexation of Crimea. "I transmitted our concern over the illegal invasion of Ukraine," Sanchez said, adding that he "encouraged Xi to talk to President Zelenskiy". Last month, Beijing put forward its own 12-point peace plan and called for a comprehensive ceasefire in the conflict. Sanchez urged China to seek a more balanced economic relationship with Spain and called for greater transparency.

☆ China's Premier Li Qiang seeks to rally Asia behind Beijing
▼ + stars: | 2023-03-30 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

China's Premier Li Qiang addressed an international audience at Boao Asia forum in Boao, Hainan on March 30, 2023. BO'AO, China — Chinese Premier Li Qiang sought to rally Asian countries behind China in his first public address to an international audience as premier. His speech of about 25 minutes at the Boao Forum for Asia did not delve into China's heightened tensions with the U.S. Asia and the world are at the "crossroads" of history, Li said, while portraying China as a center of stability. Li, who was confirmed as premier in March, said China's development going forward would bring "strong momentum to the economic growth of Asia."

☆ China Development Forum: Li Qiang rolls out the welcome wagon for foreign companies
▼ + stars: | 2023-03-28 | by ( Laura He | ) edition.cnn.com time to read: +4 min

“China’s economy has been deeply integrated into the global division of labor.”Li pledged that the country will align with international economic and trade rules, give equal treatment to foreign investment and facilitate trade and investment by removing government controls. Worries about foreign investmentConcerns about foreign capital leaving China have grown. To boost business confidence, China’s new economic leadership is trying to reassure foreign business and the domestic private sector. “You are not foreigners, but family,” Wang Wentao, the commerce minister, told attendees at the China Development Forum. In a meeting with Cook on Monday, he said China is willing to “provide a good environment and services” for foreign enterprises including Apple.

☆ China to boost support for high-end manufacturing - Premier Li
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

[1/2] Chinese Premier Li Qiang waves as he leaves a news conference following the closing session of the National People's Congress (NPC), at the Great Hall of the People, in Beijing, China March 13, 2023. REUTERS/Florence Lo/PoolBEIJING, March 22 (Reuters) - China will strengthen its policy guidance to support advanced manufacturing, Premier Li Qiang was quoted as saying by state radio on Wednesday. China will create a market-oriented, legal and international business environment and strengthen the policy guidance to support advanced manufacturing, said Li. Li visited the southern province of Hunan from March 21-22 and hosted a forum on the development of advanced manufacturing, according to state radio. Reporting by Liangping Gao and Ryan Woo; Editing by Toby Chopra and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

According to CNBC analysis of state media reports, 7.7 million people took the civil service exam in the 2023 application round, vying for more than 200,000 government jobs at the national and provincial level. Qilai Shen | Corbis Historical | Getty ImagesA record number of people in China took the civil service exam this year, as unemployment among young people soared. According to CNBC analysis of state media reports, 7.7 million people took the civil service exam in the 2023 application round, vying for more than 200,000 government jobs at the national and provincial level. China's National Civil Service Administration could not be reached for comment despite multiple attempts by CNBC. However, Xi and other senior leaders did not need to take the civil service exam to gain their current roles.

Chinese Premier Li Qiang takes on the job at a challenging time. China’s new premier pledged to shore up growth and restore business confidence in the world’s second-largest economy, seeking to assure the world that Beijing can overcome domestic difficulties and diplomatic tensions that have buffeted his country in recent months. Li Qiang, at his first press briefing in his new government role, acknowledged China won’t find it easy to meet its relatively conservative target of expanding gross domestic product by about 5% this year, as the government focuses on delivering stable prices, creating jobs and supplying ample housing.

Li, installed as premier on Saturday during the annual session of China's parliament, is tasked with reviving the world's second-largest economy after three years of COVID curbs. But he faces challenges including weak confidence among consumers and private industry, sluggish demand for exports and worsening relations with the United States. China's private sector has been rattled in recent years by a sweeping regulatory clampdown targeting some of its most vibrant industries, including the internet and private education. At the opening of the annual parliamentary session, China set a GDP growth target of 5% percent, its lowest goal in nearly three decades, after the economy grew just 3% last year. China's relations with the United States sank to a low after U.S. House Speaker Nancy Pelosi visited Taiwan in August 2022.

As debt obligations mount, some local governments are pushing banks to extend maturities and cut interest rates, sources said. Reuters Graphics"BLACK HOLES""The LGFVs have become the black hole of the Chinese financial system. Chinese banks and other financial institutions have been cautious on new lending to LGFVs over the past years. In recent months, some state-owned banks, asset managers, and insurers have been looking into their portfolios to screen LGFV borrowers with weaker creditworthiness and dispose them, separate financial sector sources told Reuters. Offshore branches of Chinese financial institutions have been major buyers of the bonds, industry sources said.

☆ NPC 2023: Xi Jinping hits out at US as he urges China's private firms to 'fight' alongside Communist Party
▼ + stars: | 2023-03-07 | by ( Laura He | ) edition.cnn.com time to read: +5 min

“The private sector is an important force for our party to govern in the long term,” Xi said. Business confidence has plummeted following an unprecedented regulatory crackdown on the private sector and increasing uncertainties about China’s future path. Major contributorThe private sector, despite being dwarfed in size by the state sector, contributes more than 60% to China’s GDP and over 80% of employment, according to official statistics. It’s also necessary to protect the property rights of private companies and entrepreneurs and treat state firms and private companies equally, so as to “boost market expectations and confidence,” he said. “[We should] let private companies play an important role in stabilizing employment and increasing [government] income,” he said.

☆ China's Li Keqiang announces lowest GDP target in decades amid major economic leadership overhaul
▼ + stars: | 2023-03-06 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —China’s outgoing Premier Li Keqiang has announced the country’s lowest GDP growth target in decades, highlighting the domestic and global challenges the world’s second largest economy still faces despite its decision late last year to ditch draconian anti-Covid measures. It fell well short of the official growth target of “around 5.5%.”“Having declared the end of pandemic, the leaders are sticking to the slowing GDP growth path in the long term by lowering annual GDP target gradually,” said Ken Cheung, chief Asian foreign exchange strategist at Mizuho Bank. “Moreover, China has been downplaying the numeric GDP target and shifted to balance the quality since President Xi’s era,” he said. Premier Li also said the government would only raise fiscal spending by 5.6% this year, which is lower than the growth of 6.1% in fiscal spending in 2022. “After three years of pandemic [measures], it could be more than desirable for governments, especially the local governments, to restore fiscal resilience,” said Citi analysts.

☆ Asia markets to rise as investors further digest China's modest growth target
▼ + stars: | 2023-03-06 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

The Hang Seng index on Tuesday gained 1.84%, or 363.88 points — the most gains the index has seen since January 2018, when the index rose nearly 2% on the first trading session of the year. Stocks in Asia-Pacific were set to trade higher on Monday as investors further digested China's growth target set in its parliamentary sessions and looked ahead to a week of economic data. The Nikkei futures contract in Chicago was at 28,196 and its counterpart in Osaka was at 28,210, up against the Nikkei 225's last close at 27,927.47. South Korea's inflation showed further easing in February. Futures for the Hang Seng index also pointed towards a higher open as investors further digested key targets released from Chinese Premier Li Keqiang's government work report released Sunday.

☆ China says should advance 'peaceful reunification' with Taiwan
▼ + stars: | 2023-03-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/IllustrationBEIJING, March 5 (Reuters) - Chinese Premier Li Keqiang said on Sunday the government should promote the peaceful development of relations with Taiwan and advance the process of China's "peaceful reunification" but also take resolute steps to oppose Taiwan independence. In August, China staged war games around Taiwan in response to a visit to Taipei by then-U.S. House Speaker Nancy Pelosi. Speaking at the opening of the annual meeting of China's parliament, Li said Beijing stands by the "one China" principle, which states that Taiwan is part of China. The government should implement our party's policy for "resolving the Taiwan question" and "take resolute steps to oppose Taiwan independence and promote reunification", he told the roughly 3,000 delegates at Beijing's enormous Great Hall of the People. "We should promote the peaceful development of cross-Strait relations and advance the process of China's peaceful reunification."

REUTERS/Thomas PeterSHANGHAI, March 5 (Reuters) - China's science and technology policies should aim to build the country's strength and self-reliance, while companies take the lead in pushing innovation, Premier Li Keqiang said on Sunday. The country effectively countered external attempts to suppress and contain China’s development over the past five years by promoting development of the real economy through innovation and fostering new drivers of growth, he said. President Xi Jinping has urged the country to strengthen its self-reliance in science and technology and continue to strive as a global tech power. The platform economy comprises China's largest tech companies, such as Alibaba Group (9988.HK) and Tencent Holdings (0700.HK). Such firms were the targets of a long, bruising regulatory crackdown that Beijing says it is now easing.

Hong Kong CNN —China has set an official economic growth target of “around 5%” for 2023, as it seeks to revive the world’s second largest economy after a year of tepid growth because of pandemic measures. The new figure was released Sunday alongside the opening of the annual gathering of the National People’s Congress (NPC), the country’s rubber-stamp legislature, in a government work report. Chinese Premier Li Keqiang speaks during the opening session of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, Sunday, March 5. Ng Han Guan/APMoody’s Investors Service has since raised its China growth forecast to 5% for both 2023 and 2024, up from 4% previously, citing a stronger than expected rebound in the short term. Global growth will likely slow from 3.4% in 2022 to 2.9% in 2023.

☆ Analysis: Cash-strapped countries face IMF bailout delays as debt talks drag on
▼ + stars: | 2023-03-02 | by ( Jorgelina Do Rosario | ) www.reuters.com time to read: +7 min

IMF funding is often the sole financial lifeline available to countries in a debt crunch, and key to unlocking other financing sources, with delays putting pressure on government finances, companies and populations. Though staff agreements can be reached without financing assurances, the IMF board needs them to approve the programme. Chinese Premier Li Keqiang said on Wednesday the country is willing to "constructively" participate in solving debt problems of relevant countries under a multilateral framework. But Beijing has always emphasised all creditors should follow the principle of "joint action, fair burden" in debt settlements. Adding another layer of complexity to these debt talks, the Common Framework doesn't lay out precise rules on how a debt restructuring with bilateral creditors should work.

☆ China has U-turned on almost all major policies it put in place in the last 3 years — and it's not surprising, given the state of its economy
▼ + stars: | 2023-02-16 | by ( Huileng Tan | ) www.businessinsider.com time to read: +10 min

But the country reversed some major policies in response to the abysmal GDP growth. China's GDP grew by 3% in 2022 — the worst since the chaotic Cultural Revolution ended. Most recently, after three years of pandemic lockdowns and isolation, China abruptly reversed course and abolished its zero-COVID policy — leaving the world guessing why. China's GDP grew only 3.0% in 2022 — the worst in nearly half a century since the chaotic Cultural Revolution ended. China's GDP growth is vital because it is the world's second-largest economy after the US, so it's a driving force for global investment and trade.

☆ European markets set to inch higher with China reopening, economic outlook in focus
▼ + stars: | 2022-12-09 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets are set to nudge higher on Friday, tracking global sentiment as investors hope for a Chinese economic recovery as Covid-19 curbs are relaxed. After a relatively muted week for European stock markets, a host of significant risk events are coming down the pike next week, including the U.S. Federal Reserve and Bank of England's next monetary policy meetings. Shares in Asia-Pacific were higher overnight, with Hong Kong's Hang Seng index leading gains, as Chinese November inflation data came in roughly in line with expectations. In remarks published by state media on Thursday, Chinese Premier Li Keqiang said the country's easing of Covid policy would allow the economy to gather momentum. U.S. stock futures were modestly higher in early premarket trade on Friday as traders look ahead to fresh wholesale inflation data due later in the day.

☆ China Premier Li emphasised 'irresponsibility' of nuclear threats at Asia summit -U.S. official
▼ + stars: | 2022-11-14 | by ( Simon Lewis | ) www.reuters.com time to read: +2 min

NUSA DUA, Indonesia, Nov 14 (Reuters) - Chinese Premier Li Keqiang emphasised the "irresponsibility" of nuclear threats during a summit in Cambodia, suggesting Beijing is uncomfortable with strategic partner Russia's nuclear rhetoric, a senior U.S. official said on Monday. Li participated in the East Asia Summit on Sunday along with U.S. President Joe Biden. The Chinese premier "spoke rather extensively about China's policy towards Ukraine," said a senior U.S. administration official, who briefed reporters ahead of a summit between Biden and Chinese President Xi Jinping on Monday. Li "put clear emphasis on sovereignty, on the irresponsibility of nuclear threats, the need to ensure that nuclear weapons are not used in the way that some have suggested," said the official, speaking on condition of anonymity. The West has accused Russia of making irresponsible statements on the possible use of nuclear weapons since its February invasion of Ukraine.

☆ Biden says won't veer into conflict with China, as first summit ends in Asia
▼ + stars: | 2022-11-13 | by ( Nandita Bose | ) www.reuters.com time to read: +3 min

Addressing the East Asia Summit in Cambodia, Biden said the United States would compete with China and speak out over its human rights record, but stressed the importance of peace in the Taiwan Strait and ensuring freedom of navigation in the South China Sea. On China, Biden told the summit that "the United States will compete vigorously.... while keeping lines of communication open and ensuring competition does not veer into conflict," the White House said in a statement. Eighteen countries accounting for half the global economy attended Sunday's East Asia Summit, including the ASEAN nations, Japan, South Korea, China, India, the United States, Russia, Australia and New Zealand. "The United States and its NATO allies are trying to master this space," Lavrov told a news conference in Phnom Penh. Like ally the United States, Australia's ties with China have also deteriorated in recent years.

☆ Chinese premier says economy on 'upward trend', vows further support
▼ + stars: | 2022-11-13 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Nov 13 (Reuters) - China's economy has grown 3% over the past three quarters and is stabilising on an "upward trend", Chinese Premier Li Keqiang said, vowing to continue to support the economy with policy measures. Premier Li also said China was working hard to keep market operations, employment and prices stable, the statement said. read moreChina has created more than 10 million new urban jobs in the first 10 months of the year, Li said. China aims to keep the urban jobless rate below 5.5% and to create more than 11 million new urban jobs this year. "Countries should strengthen cooperation and macroeconomic policy coordination, so as to form synergy to maintain the stability of the world economy and prevent recession," Li said.

☆ Australia's Albanese talks briefly with China's Li, prompting talk of summit -media
▼ + stars: | 2022-11-13 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, Nov 13 (Reuters) - Australia's Prime Minister Anthony Albanese spoke briefly with Chinese Premier Li Keqiang at a regional summit in Cambodia, Australian media said on Sunday, sparking some expectations of a formal summit with President Xi Jinping. Albanese and Li spoke on arrival at a gala on the sidelines of the summit in Phnom Penh of the Association of Southeast Asian Nations (ASEAN), the Australian Broadcasting Corporation reported. The discussion raised the prospect of a potential Albanese-Xi meeting at the summit of the Group of 20 big economies in Indonesia on Monday. The last bilateral summit was in 2019 when Albanese's predecessor, Scott Morrison, met Xi at a G20 meeting, according to Australia's foreign ministry. Albanese's office said last week he will attend that meeting and a subsequent summit in Bangkok of the Asia-Pacific Economic Cooperation group.

☆ Biden discusses security pact, Taiwan Strait with Australian PM
▼ + stars: | 2022-11-13 | by ( Kanishka Singh | ) www.reuters.com time to read: +2 min

Nov 13 (Reuters) - U.S. President Joe Biden on Sunday met Australian Prime Minister Anthony Albanese and discussed their security pact and issues surrounding the Taiwan Strait, the White House said. The AUKUS security pact between the United States, the United Kingdom and Australia is seen as an effort by the Western allies to push back against China's growing power and influence, particularly its military buildup, pressure on Taiwan and deployments in the contested South China Sea. The two leaders met on the margins of the East Asia Summit in Cambodia and also discussed Russia's invasion of Ukraine, the White House said in a statement. "The leaders recognized the imperative of maintaining peace and stability across the Taiwan Strait," the White House said. Beijing staged war games in August after U.S. House of Representatives Speaker Nancy Pelosi visited Taipei, and has since continued military activities nearby including almost daily fighter jet crossings of the sensitive median line in the narrow Taiwan Strait.

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