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Prices were also unchanged from a year earlier, retreating from a 0.1% increase in May. The property sector, accounting for one-fourth of activity in the world's second-biggest economy, slumped sharply last year as developers defaulted on debts and suspended construction of presold housing projects. Markets widely expect more stimulus around a meeting of the ruling Communist Party's Politburo late this month, setting the tone for economic policies in the second half of the year. Thirty-one of the 70 cities monitored by NBS recorded month-on-month rises in new home prices, down from 46 in May. Prices were flat after rising in May in tier-one cities including Beijing and tier-two cities.

Persons: Chen Xiao, Hunter, Chen, Zou Lan, Goldman Sachs, dampening, Qiaoyi Li, Liangping Gao, Ryan Woo, Kim Coghill, William Mallard Organizations: National Bureau of Statistics, Communist Party's Politburo, Zhuge, NBS, People's Bank of China, Thomson Locations: BEIJING, Beijing

☆ China central bank to use tools such as RRR to tackle economic woes
▼ + stars: | 2023-07-14 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

[1/2] Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. The central bank will step up "countercyclical adjustments" to support the economic recovery, PBOC Deputy Governor Liu Guoqiang told the press conference. Analysts polled by Reuters expect the central bank to cut the RRR by 25 basis points in the third quarter. But Liu said China has not seen deflation and there were no deflationary risks for the second half. "As for the specific policy tools, we will use them reasonably according to the needs of the situation."

Persons: Tingshu Wang, Zou Lan, Zou, Liu Guoqiang, Liu, Liangping Gao, Ellen Zhang, Shri Navaratnam, William Mallard Organizations: People's Bank of China, REUTERS, Reuters, Securities Times, Thomson Locations: Beijing, China, BEIJING

☆ China's slow AI roll-out points to its tech sector's new regulatory reality
▼ + stars: | 2023-07-12 | by ( Josh Ye | ) www.reuters.com time to read: +6 min

[1/3] An AI (Artificial Intelligence) sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. New rules Chinese firms have to comply with range from algorithm vetting to accepting security reviews of data they want to export. They definitely stifle the innovation and slow down the ability of Chinese firms to catch up." A key motivation behind China's reluctance to release AI chatbots is that Beijing fears uncensored chatbots may start influencing societal views in potentially subversive directions, said Mark Natkin, managing director of research firm Marbridge Consulting. "While the U.S. is racing ahead with AI, China is hitting the brakes with more rules."

Persons: Aly, HONG KONG, OpenAI's ChatGPT, Henry Gao, Ernie Bot, Robin Li, Shi, Mark Natkin, Heatherm Huang, Bard, Microsoft's Bing, Xi Jinping, Baidu, Josh Ye, Brenda Goh, Jamie Freed Organizations: Artificial Intelligence, REUTERS, China, Baidu, HK, Ant Group, Western, Singapore Management University, Microsoft, SenseChat, Nomura, Marbridge Consulting, Huawei Technologies, Thomson Locations: Shanghai, China, HONG, Beijing, Alibaba, Tencent, Hong Kong, U.S

☆ Analysis: China's slow AI roll-out points to its tech sector's new regulatory reality
▼ + stars: | 2023-07-12 | by ( Josh Ye | ) www.reuters.com time to read: +6 min

☆ China's factory gate prices fall at fastest pace in 7 years
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +3 min

BEIJING, July 10 (Reuters) - China's factory-gate prices fell at the fastest pace in seven-and-a-half years in June, while consumer inflation was at its slowest since 2021, adding to the case for policymakers to use more stimulus to revive sluggish demand. The consumer price index (CPI) was unchanged year-on-year, compared with the 0.2% gain seen in May, driven by a faster fall in pork prices. Beijing has set a target for average consumer inflation in 2023 of about 3%. China last month cut policy rates to boost liquidity and vowed to take measures to promote household consumption. Reuters GraphicsFor producer prices, the biggest year-on-year declines were seen in energy, metals and chemicals as domestic and foreign demand weakened.

Persons: Bruce Pang, Jones Lang Lasalle, Pang, Hu Yuexiao, COVID, Liangping Gao, Ella Cao, Ryan Woo, Sam Holmes Organizations: National Bureau of Statistics, Capital Economics, Reuters Graphics, PPI, Jones, Shanghai Securities, Thomson Locations: BEIJING, Beijing, China

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

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

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

The planned end of the MINUSMA mission follows years of tensions between the U.N. and Mali's military junta that came to a head this month when Mali Foreign Minister Abdoulaye Diop asked the force to leave "without delay". The U.N. mission is credited with playing a vital role in protecting civilians against an Islamist insurgency that has killed thousands. Under the draft text, MINUSMA would have until Dec. 31 to undertake an "orderly and safe" withdrawal, which the Security Council would review by Oct. 30. A UN peacekeeping spokesperson said: "Subject to the decision of the Security Council, the United Nations is ready to work with the Malian authorities on an exit plan for MINUSMA." The U.N. had been expected to extend its mandate for another year this month, before Mali asked it to leave.

Persons: Adama Diarra, Abdoulaye Diop, Russia's Wagner, Wagner, Yevgeny Prigozhin, MINUSMA, David Lewis, Edward McAllister, Michelle Nichols, Rosalba O'Brien Organizations: UN, United Nations, Reuters, Mali Foreign, Security Council, Thomson Locations: Kouroume, Mali, Kourome, Timbuktu, Mali Mali, NAIROBI, DAKAR, Mali's, Russia, Belarus, China, United States, Britain, France, Germany, Sweden, al Qaeda, West Africa, Gao, Algiers Accords

☆ Trump was accused of breaking a Nixon-era law by withholding funds to Ukraine. Now, he wants to get rid of it entirely.
▼ + stars: | 2023-06-27 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Trump pledged to restore a sweeping presidential power that Nixon abused to the point of it being curtailed. The former president wants to restore the ability for presidents to impound funds. "I will fight to restore the president's historic impoundment power," Trump said at an event in New Hampshire. In the wake of Trump's first impeachment for withholding funds for Ukraine, the Government Accountability Office concluded that Trump had violated the Nixon-era law. Impoundment refers to when a president refuses to spend funds that Congress has provided for.

Persons: Trump, Nixon, —, Donald Trump, Richard Nixon, It's, Trump's, Nixon White, Thomas Jefferson Organizations: Trump, Service, Ukraine, Office, Constitutional, Congress, Congressional Locations: New Hampshire, Ukraine

The U.N. mission is credited with playing a vital role in protecting civilians against an Islamist insurgency that has killed thousands. "The Security Council ... decides to terminate MINUSMA's mandate as of June 30 2023," said the draft resolution circulated among council member states last week. A draft resolution could still be changed before publication, but two of the sources said they expected no changes to be made. The 15-member Security Council is due to vote on Thursday. Under the draft resolution, operations would be pared down to providing security to U.N. personnel, facilities and convoys.

Persons: Adama Diarra, Abdoulaye Diop, Russia's Wagner, Wagner, Yevgeny Prigozhin, MINUSMA, Moscow's, David Lewis, Edward McAllister, Michelle Nichols Organizations: UN, United Nations, Reuters, Mali Foreign, Security, Security Council, Thomson Locations: Kouroume, Mali, Kourome, Timbuktu, Mali Mali, NAIROBI, DAKAR, France, Mali's, Russia, Belarus, China, United States, Britain, Germany, Sweden, al Qaeda, West Africa, Gao, Algiers Accords

☆ DOJ issues scathing rebuke of Bureau of Prisons detailing multiple failures that led to Jeffrey Epstein’s suicide
▼ + stars: | 2023-06-27 | by ( Holmes Lybrand | ) edition.cnn.com time to read: +5 min

The report indicated the Bureau of Prisons’ failings were troubling not only because they did not safeguard Epstein but also because they “led to numerous questions about the circumstances surrounding Epstein’s death” and denied Epstein’s victims justice. Two guards on duty the night of Epstein’s death later admitted to falsifying records at the time. According to the initial indictment against the two guards, on the night of Epstein’s suicide, both individuals repeatedly failed to complete the required prisoners check during their watch. On the day before he was found dead in his prison cell, Epstein was also allowed by prison staff to make an unmonitored phone call, despite prison policy requiring all phone calls to be monitored. In August 2021, two years after Epstein’s death, the BOP announced it would close Metropolitan Correctional Center, citing the need to improve conditions in the facility.

Persons: Jeffrey Epstein, ”, Epstein, ” Epstein, OIG Organizations: CNN, Department’s Office, Prisons, Federal Bureau of Investigation’s, Metropolitan Correctional Center, Justice Department, Southern, of, MCC, FBI, Force, BOP, Correctional Center, Office Locations: New York, of New York

☆ S&P cuts China GDP forecast as calls for stimulus intensify
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +3 min

BEIJING, June 26 (Reuters) - S&P Global cut its forecast for economic growth in China this year, underscoring the uneven nature of the country's post-reopening recovery that is spurring more calls for further stimulus. S&P now expects China to log GDP growth of 5.2% in 2023, down from an earlier estimate of 5.5%. Forecasts for China GDP growth this year range between 4.4% and 6.2%. Last week, China cut its key lending benchmarks, the first such reductions in 10 months. Further highlighting pessimism over the economy, China and Hong Kong stocks slumped on Monday after disappointing domestic tourism figures for last week's three-day Dragon Boat Festival, while the yuan also weakened against the dollar.

Persons: Goldman Sachs, Ning, Nie Wen, Liangping Gao, Ryan Woo, Edwina Gibbs Organizations: People's Bank of China, Times, Communist, Hwabao Trust, Thomson Locations: BEIJING, China, Beijing, Shanghai, Hong Kong

☆ S&P Global cuts China 2023 growth forecast to 5.2% from 5.5%
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +1 min

BEIJING, June 26 (Reuters) - S&P Global said it has cut its 2023 GDP growth forecast for China after May data showed a post-COVID recovery was faltering in the world's second-largest economy. "We have reduced our 2023 GDP growth forecast to 5.2%, from 5.5%," it said in a research note on Sunday. Goldman Sachs reduced its forecast from 6% to 5.4%, citing persistently weak confidence and the cloud over the property market as stronger-than-expected headwinds. China will roll out more stimulus to support a slowing economy this year, sources involved in policy discussions have said. Reporting by Liangping Gao and Ryan Woo; Editing by Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Goldman Sachs, Liangping Gao, Ryan Woo, Edwina Gibbs Organizations: P Global, Thomson Locations: BEIJING, China, Beijing

☆ A self-made millionaire in China who never went to college just took the country's grueling college entrance exams for the 27th time — and failed again
▼ + stars: | 2023-06-26 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Liang Shi, 56, has failed China's intense college entry exam for the 27th time, per AFP. The self-made millionaire who started taking the test in 1983 harbors dreams of going to university. After all, the former factory worker has his own construction materials business and is a millionaire, per AFP. "It's an uncomfortable thought that I didn't manage to get a college education," Liang told AFP earlier this month. "It's hard to say whether I will keep on preparing for the next year," he told AFP.

Persons: Liang Shi, He's, —, It's, Liang, gao kao, Matthew Loh, Liang's, he'll Organizations: AFP, Service, ACT, AP Locations: China, AFP, Sichuan

☆ House Democrats release wave of bank reform bills
▼ + stars: | 2023-06-21 | by ( Chelsey Cox | ) www.cnbc.com time to read: +7 min

WASHINGTON — House Democrats on Wednesday will release a slate of reform bills in response to the recent bank failures that triggered the worst crisis for the sector since 2008. "The failures of Silicon Valley Bank, Signature Bank, and First Republic Bank make clear that it is past time for legislation aimed at strengthening the safety and soundness of our banking system and enhancing bank executive accountability," she said. President Joe Biden called for these actions shortly after the FDIC took over SVB and Signature Bank in March. The bill would have prevented SVB bank executives from cashing out after repeated warnings by regulators, according to Democrats. Neither Signature Bank nor SVB had a bank holding company before they collapsed.

Persons: Maxine Waters, Dodd, Frank, Waters, Joe Biden, Nydia Velazquez, Brad Sherman, Juan Vargas, David Scott, Al Green, Sylvia Garcia of, Emanuel Cleaver, Joyce Beatty, Steven Horsford, Rashida, Velazquez, Sherman, Cleaver, Beatty, Frank Act's, SVB, Vargas, Garcia, Tlaib, Banks, Sean Casten, Josh Gottheimer, Ritchie Torres, Wiley Nickel, Stephen Lynch, Brittany Pettersen Organizations: Financial Services, Washington , D.C, WASHINGTON —, Democrats, Financial Services Committee, Treasury Department, Federal Deposit Insurance Corporation, Silicon Valley Bank, Signature Bank, Banking Committee, Valley Bank, First Republic Bank, FDIC, Democratic, Sylvia Garcia of Texas, Republicans, Sound Banking, Prudential, prudential, Bank, Green, Sherman, Rep, Federal, Office, Federal Reserve, FAIR, Tlaib, Safety, Sherman . Locations: California, Washington ,, New York, Georgia, Missouri, Ohio, Michigan, Green, Horsford, H.R, Silicon, Illinois, New Jersey, North Carolina, Colo

☆ Germany resists Malian junta demand for immediate exit of troops
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +2 min

Berlin has deployed some 1,000 troops to Mali, most near the northern town of Gao where their main task is to gather reconnaissance for the 13,000-strong MINUSMA. MINUSMA was deployed by the U.N. Security Council in 2013 to support foreign and local efforts to restore stability. A resolution requires at least nine votes in favour and no vetoes by Russia, China, the United States, Britain or France to pass. The junta has burnt bridges with traditional Western allies and turned to Russia for help boosting its military capabilities. Germany said late last year it would start to pull out its troops from Mali from the middle of next year after a decade-long mission, with the withdrawal to be completed by May 2024.

Persons: MINUSMA, Wagner, Sarah Marsh, Sabine Siebold, Giles Elgood Organizations: United Nations, West, . Security, Security, UN, Thomson Locations: BERLIN, Germany, Berlin, Mali, Gao, France, Russia, China, United States, Britain

And it has also helped to placate Tuareg-led rebels in northern Mali who halted their separatist uprising with the 2015 Algiers Accord. Mali, Russia and Wagner deny wrongdoing in Moura or targeting civilians anywhere in Mali. RESTRICTIONSMINUSMA launched in 2013 after the separatist rebels and al Qaeda-linked insurgents occupied northern Mali. Bamako and the Kremlin say Russian troops, not Wagner mercenaries, are present in Mali but only to train the army and supply equipment. As a result, MINUSMA has struggled to counter a tide of anti-U.N. posts online, losing the battle for public opinion in Mali.

Persons: Wagner, Ahmedou Ould, Abdallah, MINUSMA, General Antonio Guterres, Abdoulaye Diop, U.N, Fatoumata Sinkoun Kaba, Souleymane Dembelé, Ulf Laessing, Konrad Adenauer, Ould Mohamed Ramdane, Ramdane, Yvan Guichaoua, Friedrich, Ebert, Edward McAllister, David Lewis, Tiemoko Diallo, Daniel Flynn Organizations: Wagner Group, Islamic, CMA, Malian Foreign, Security, Reuters, El, Kremlin, French, Department of Peace, UN, U.S, Thomson Locations: DAKAR, NAIROBI, Russian, West Africa, Gao, Timbuktu, Mali, Algiers, Bamako, Islamic State, al Qaeda, Mauritanian, Sahel, Moura, Russia, U.N, Burkina Faso, Niger, Central African Republic, United Kingdom, Germany, Sweden, France, Egypt, Brussels, U.S, Dakar, Nairobi

☆ Cheap 'like cabbage' apartments in some Chinese cities draw buyers, and caution
▼ + stars: | 2023-06-16 | by ( Liangping Gao | Marius Zaharia | ) www.reuters.com time to read: +4 min

Real estate agents said low-cost apartments in smaller Chinese cities such as Huainan and Rushan in the east, and Gejiu in the southwest, are also being bought, largely by people living outside those locations. The deals come at a time the picture for China’s property market is getting darker. For buyers with the means to get back into the market, the rock-bottom prices of second-hand apartments in the smaller cities have been hard to resist. ‘BUYERS ARE NOT LOCALS’Real estate agents said buyers in the small cities are mostly from out of town. “The fact that there are so many people buying low-cost flats in smaller cities reflects caution,” said Hwabao Trust economist Nie Wen.

Persons: Hu Yongwei, Thomas Peter, Hu, “, Zhao, Liu Yong, Gejiu, ”, Nie Wen Organizations: Reuters, REUTERS, Beijing, Hwabao Locations: BEIJING, HONG KONG, Beijing, Hebi, Zhengzhou, Henan province, China, Huainan, Rushan, Anjuke, Chongqing, COVID

☆ China's slower home price growth, deepening investment slump signal more easing
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +3 min

New home prices in May rose 0.1% month-on-month, slower than a 0.4% gain in March, according to Reuters calculations based on National Bureau of Statistics (NBS) data. Additional easing measures are needed to revive the industry, economists say, adding to expectations Beijing will deliver stimulus such as further easing home purchase curbs in first-tier cities. Beijing's broad-based stimulus measures to prop up the embattled property market since late last year had boosted sentiment in the wake of the abrupt end of COVID-19 curbs in December. In annual terms, prices rose slightly for the first time since April 2022, up 0.1% last month after a 0.2% drop in April. China's central bank cut the borrowing cost of its medium-term policy loans for the first time in 10 months on Thursday.

Persons: Yan Yuejin, Goldman Sachs, China's, Liangping Gao, Qiaoyi Li, Ryan Woo, Sam Holmes, Christopher Cushing Organizations: National Bureau of Statistics, China Research, Development Institution, Thomson Locations: BEIJING, Beijing, China, COVID

☆ China's Jan-May property investment, sales fall at faster pace
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: 1 min

BEIJING, June 15 (Reuters) - Property investment in China fell at a faster pace in January-May, dropping 7.2% from the same period a year earlier, official data showed on Thursday, adding to concerns about the outlook for the world's second-biggest economy. Property sales by floor area declined 0.9%, versus a 0.4% fall in the first four months, according to data from the National Bureau of Statistics (NBS). New construction starts measured by floor area fell 22.6%, after a 21.2% drop in the first four months. Funds raised by China's property developers were down 6.6% after a 6.4% slide in January-April. Reporting by Liangping Gao, Ella Cao and Ryan Woo; Editing by Kim Coghill and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: Liangping Gao, Ella Cao, Ryan Woo, Kim Coghill, Tom Hogue Organizations: National Bureau of Statistics, Thomson Locations: BEIJING, China

[1/6] China's President Xi Jinping and Palestinian President Mahmud Abbas attend a signing ceremony at the Great Hall of the People in Beijing, China June 14, 2023. JADE GAO/Pool via REUTERSBEIJING, June 14 (Reuters) - China is willing to play a positive role to help the Palestinians achieve internal reconciliation and promote peace talks with Israel, Chinese President Xi Jinping told his Palestinian counterpart in Beijing on Wednesday. "The fundamental solution to the Palestinian issue lies in the establishment of an independent Palestinian state based on the 1967 borders with East Jerusalem as its capital," Xi said, according to Chinese state media. Abbas heads the Palestinian Authority that exercises limited self-rule in the West Bank and negotiated with Israel. On Tuesday, Chinese Foreign Minister Qin Gang offered to contribute "Chinese wisdom" to the "Palestinian issue" in a separate meeting with Palestinian counterpart Riyad al-Maliki.

Persons: Xi Jinping, Mahmud Abbas, JADE, Xi, Israel, Abbas, Antony Blinken, Qin Gang, Riyad al, Joe Cash, Mark Heinrich Our Organizations: of, People, JADE GAO, REUTERS, West, West Bank, U.S, United Nations General Assembly, Palestinian Authority, United Nations, United, Security, Foreign, Palestinian, Maliki, Thomson Locations: Beijing, China, REUTERS BEIJING, Israel, East Jerusalem, West Bank, Gaza, Jerusalem, United States, People . China, Iran, Saudi Arabia, Palestinian, New York, Wuhan, Ramallah

☆ China's property sector set to be persistently weak for years -Goldman
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +2 min

BEIJING, June 12 (Reuters) - China's property sector is expected to grapple with "persistent weakness" for years, Goldman Sachs analysts said, adding that its problems would continue to drag on the country's economic growth. "As such, we only assume an 'L-shaped' recovery in the property sector in coming years," the note said. China's property sector has over the past two years been thrust into a severe debt crisis - initially triggered by government moves to rein in ballooning debt - with many developers defaulting on payments as they struggle to sell apartments and raise funds. Although local governments have rolled out hundreds of measures to support the sector, and the scrapping of harsh COVID curbs in December has helped somewhat, positive investor sentiment towards the sector has been short-lived. A state-run newspaper last week urged patience amid market speculation of more stimulus for the sector.

Persons: Goldman Sachs, Liangping Gao, Ryan Woo, Edwina Gibbs Organizations: Thomson Locations: BEIJING

☆ What one key business indicator is saying about China's consumer recovery
▼ + stars: | 2023-06-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

"For 618, generally of course brands will be trying, but compared to before it's a bit more tired," said Ashley Dudarenok, founder of ChoZan, a China marketing consultancy. In the first quarter, the median disposable income of urban residents in China was officially 12,175 Chinese yuan ($1,739), up 3.9% from a year ago. A focus on affordabilitySluggish economic growth and uncertainty about future income have weighed on Chinese consumer spending since the Covid-19 pandemic. watch nowBrands are keen to spend more on ByteDance's Douyin, likely taking away from ad spending on Alibaba's Taobao and Tmall e-commerce platforms, Oliver Wyman's Xie said. And for brands spending on Douyin, he said the return on investment per ad dollar was getting lower.

Persons: Jade Gao, Ashley Dudarenok, Dudarenok, let's, Microsoft's Bing, Dave Xie, Oliver Wyman, Douyin, Oliver Wyman's Xie, ByteDance isn't, doesn't, Pinduoduo, Sun Hao, Sun, didn't, Trip.com, Kelly Shi Organizations: Afp, Getty, Baidu, Retail, Brands, Growth, Nestle, Netflix Locations: Beijing, BEIJING, China

Star fund manager Zhang Kun, who manages nearly 90 billion yuan for Guangzhou-based E Fund Management, has seen his flagship 56 billion yuan Blue Chip Selected Mixed Fund lose 8% so far this year. The fund soared 95% in 2020 which attracted significant subscriptions and helped Zhang become China's first so-called "100 billion fund manager". Another high profile fund manager, Ge Lan at Lombarda China Fund Management, saw her flagship 28 billion yuan healthcare fund retreat 7% in 2021 and 23% in 2022, after a nearly 100% gain in 2020. "Not just mutual funds, the overall fund issuance is difficult, as this is closely connected with the economic situation," Steve Chen, partner of Shanghai-based hedge fund manager MX Capital. To boost market sentiment, some mutual funds announced fee cuts or started to purchase their own fund shares recently.

Persons: Thomas Peter HONG, Jiao Jinyuan, Zhang Kun, Zhang, Ge Lan, Emily Gao, Steve Chen, Debbie Dai, Dai, China Asset’s Jiao, Summer Zhen, Sumeet Chatterjee, Kim Coghill Organizations: REUTERS, Z, Ben Advisors, CSI, China Asset Management, Star, E Fund Management, China Fund Management, MX Capital, Thomson Locations: Beijing, China, Thomas Peter HONG KONG, Guangzhou, Shanghai

The business conference will draw about 2,000 attendees from Greater China, in what will be one of the region's biggest-yet business delegation to Saudi Arabia, according to one person with direct knowledge of the matter. "From the perspective of both capital and new market, the Middle East, Saudi Arabia are really good new choices for Chinese companies and investors," said Henry Zhang, president of Hong Kong-based private equity firm Hermitage Capital. "Since late last year, a large number of Chinese funds have rushed to the Middle East looking for new investors. For the upcoming conference, Chinese entrepreneurs in attendance represent a range of industries -- from renewable energy and artificial intelligence to biotech, finance and tourism. "Previously, I had to actively pitch Chinese companies to consider Saudi Arabia as their destination of outbound investment and overseas expansion.

Persons: Xi Jinping's, Antony Blinken, Henry Zhang, Zhang, Robert Mogielnicki, Edison Gao, I've, Gao, Julie Zhu, Aziz El Yaakoubi, Sumeet Chatterjee, Michael Perry Organizations: China Business Conference, Hermitage Capital, Gulf States Institute, Ajlan, Brothers, Thomson Locations: HONG KONG, RIYADH, Riyadh, Saudi Arabia, Arab, Gulf, Beijing, Washington, U.S, Greater China, East, Hong Kong, Hermitage, China, Saudi, Rachna, Dubai

☆ Analysis: Boeing, Northrop face obstacles in commercializing flagship US rocket
▼ + stars: | 2023-06-07 | by ( Joey Roulette | ) www.reuters.com time to read: +6 min

[1/3] NASA's next-generation moon rocket, the Space Launch System (SLS) rocket with its Orion crew capsule perched on top, is shown on its launch pad as it is prepared for launch in Cape Canaveral, Florida, U.S. November 12, 2022. NASA's SLS vision has its skeptics. NASA currently manages SLS production, with Boeing and Northrop its top contractors, each having contracts under which the space agency bears any delay costs. Boeing and Northrop executives have declined to discuss plans for cutting SLS costs under the proposed commercial contract. Boeing has said the SLS program has created 28,000 jobs.

Persons: Joe Skipper, Colonel Douglas Pentecost, Glenn, Jeff Bezos's, Cristina, Jim Free, Artemis, Amit Kshatriya, Kshatriya, Joey Roulette, Will Dunham, Ben Klayman Organizations: Orion, REUTERS, WASHINGTON, Boeing, Northrop Grumman, Pentagon, Northrup, U.S . Department of Defense, DoD, U.S, military's Space Force, NASA, SLS, Elon Musk's SpaceX, Office, U.S . Congress, Northrop, Artemis, Space, Reuters, Thomson Locations: Cape Canaveral , Florida, U.S, Florida

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