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☆ China will speed up construction of charging facilities for EVs, state media report
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

BEIJING, May 5 (Reuters) - China will speed up the construction of charging facilities for new energy vehicles such as electric cars, and improve policies for purchasing and using them, state media quoted the cabinet as saying on Friday. Improved charging infrastructure for new energy vehicles will help unleash the potential of rural consumption and support growth of rural tourism, adding new impetus to rural revitalisation, the cabinet was quoted as saying after a regular meeting. The cabinet, or State Council, has approved plans to speed up the development of advanced manufacturing clusters, state media reported. Developing such clusters will be vital for steering China's industries towards innovation, and will help enhance the resilience and safety level of the country's industrial supply chains, the cabinet said. Reporting by Beijing newsroom and Kevin Yao; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ China says Myanmar's sovereignty should be respected
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

BEIJING, May 2 (Reuters) - China supports Myanmar in finding its own path to development and urges the international community to respect its sovereignty and help it achieve peace and reconciliation, China's foreign ministry said on Wednesday. "China supports Myanmar in exploring a development path with Myanmar characteristics that suits to its national conditions," Qin's ministry cited him as saying in the talks. The international community should respect Myanmar's sovereignty and play a constructive role in helping it achieve peace and reconciliation, he said. On economic development, Qin said China would accelerate investment linked to a China-Myanmar Economic Corridor and implement projects on agriculture, education and health care. China also supported Myanmar on improving its relations with its western neighbour, Bangladesh, the Chinese foreign minister said.

☆ China regulator to help lower financing costs of small businesses
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

BEIJING, April 27 (Reuters) - China's banking and insurance regulator said it would enhance credit support and lower the actual financing costs of small and micro enterprises this year to better support economic recovery. In a statement on Thursday, the China Banking and Insurance Regulatory Commission (CBIRC) said financial institutions should provide reasonable credits to small businesses, while preventing the risk of "over-lending". Financial institutions should price lending rates reasonably based on the benchmark loan prime rate and the characteristics of small and micro businesses, it said. The CBIRC added that it would optimise the credit structure for small businesses and meet reasonable financing needs of small businesses with a credit line above 10 million yuan ($1.44 million). The regulator also said financial institutions should not renew loans for non-business and production purposes, and thatfinancial institutions should not cover up credit risks with loan renewals.

☆ China's job market tough, especially for college graduates, vice minister says
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

BEIJING, April 27 (Reuters) - China's job market remains tough, and it is becoming especially hard for college graduates to find jobs, vice Human Resources minister Yu Jiadong said on Thursday. China's cabinet on Wednesday unveiled plans to boost employment, including supporting financial institutions to offer loans to small firms and issuing subsidies to firms that hire college graduates or unemployed young people. "Employment is steady, but under pressure, steady but also worrying, and the employment pressure for young people such as college graduates remains very big," Yu told a news conference. A record 11.58 million college graduates will hit the job market this year, with the economy still feeling the impact from COVID-19 curbs that were removed in late 2022 and a crackdown on tech and education sectors. China's private firms, which account for over 60% of output and 80% of urban employment, have been hit hard by COVID-19 lockdowns and restrictions over the past three years.

☆ China's Xi holds first call with Ukraine's Zelenskiy since Russian invasion
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +3 min

Xi told Zelenskiy that China would send special representatives to Ukraine and hold talks with all parties seeking peace, Chinese state media reported. Xi, the most powerful world leader to have refrained from denouncing Russia's invasion of Ukraine, made a state visit to Russia last month. China will focus on promoting peace talks, and make efforts for a ceasefire as soon as possible, Xi told Zelenskiy, according to the Chinese state media reports. In early April, the Chinese president said he was willing to speak with Zelenskiy. Zelenskiy had repeatedly asked Xi to meet him or speak to him, including after the Chinese leader visited Russia's President Vladimir Putin in Moscow last month.

☆ Alibaba Cloud cuts prices by up to 50% for core, storage products - Securities Times
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: 1 min

BEIJING, April 26 (Reuters) - Alibaba Cloud has cut prices for its core and storage products by up to 50%, Securities Times reported on Wednesday. The price cuts are aimed at expanding its user base and market penetration, the report said. Reporting by Beijing newsroom; Writing by Liz Lee; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ China rolls out plan to boost trade amid weakening global demand
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +2 min

BEIJING, April 25 (Reuters) - China's cabinet on Tuesday issued a plan to stabilise its vital trade sector, including supporting exports of automobiles and facilitating visas for overseas businessmen, as subdued global demand threatens its exports outlook. China will also further smooth the issuing of visas for overseas business people, while increasing inbound and outbound flights, according to the statement. "The commerce ministry together with relevant departments should closely follow the operation of foreign trade, analyse the changes of situation" and "adjust and improve relevant policies" in a bid to "help firms stabilise orders and explore markets," said the statement. China will also properly respond to unreasonable foreign trade restrictions and strengthen training and guidance to local governments and firms affected, the statement added. Financial institutions, it said, are encouraged to expand the scale of yuan settlement in cross-border trade transactions to better meet the demand from firms to hedge currency risks.

☆ China respects ex-Soviet states as sovereign nations - foreign ministry
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +2 min

BEIJING, April 24 (Reuters) - China respects the status of the independent sovereign nations that emerged from the collapse of the Soviet Union, the Chinese foreign ministry said on Monday, after Beijing's envoy to Paris sparked a diplomatic storm by questioning their sovereignty. "The Chinese side respects the status of the member states as sovereign states after the collapse of the Soviet Union," Mao said, adding that China was one of the first countries to establish diplomatic relations with those countries. China respects the sovereignty, independence and territorial integrity of all countries and upholds the purposes and principles of the United Nations Charter, Mao said. And only sovereign states can become official members of the United Nations, she said. "The country you mentioned is a full member of the United Nations."

☆ Exclusive: China guides banks to further cut deposit rates - sources
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +4 min

China's central bank does not set bank rates directly but guides them through the market-based mechanism, which comprises banks big and small. "The message is that banks need to collectively bring down deposit rates," one person with knowledge of the directive said. Several small and mid-sized Chinese lenders lowered their deposit interest rates this month, after larger rivals did so last year. The one-year certificates of deposit rate has stayed unchanged around 2.26% during the period, according to data from Rong360 Digital Technology Institute. "The market adjustment mechanism of deposit rates has turned 'rigid' from 'soft'," Golden Credit Rating International Co said in a report.

☆ China's big refineries crowd out teapots for discounted Russian oil
▼ + stars: | 2023-04-21 | by ( Muyu Xu | ) www.reuters.com time to read: +4 min

SummarySummary Companies Hengli, Shenghong join Russian oil purchasesChina's April Russian oil imports likely to exceed March recordTeapots turn to cheaper Iranian oil, diluted bitumenSINGAPORE, April 21 (Reuters) - Chinese state oil giants and major private refiners are sweeping up more Russian crude, supporting prices and forcing smaller independents to seek out cheap alternatives such as Iranian oil, according to trade sources and shipping data. Shenghong imported a Urals crude cargo of about 720,000 barrels in March and 1 million barrels in April, Kpler showed. China's overall Russian crude imports, including pipeline and ships, rose to a record 9.61 million tonnes, or 2.26 million barrels per day (bpd) in March, customs data showed on Friday. TEAPOTSSmaller Chinese independent refineries, known as teapots, snapped up almost all of the ESPO supplies between November and January when others steered clear of Russian oil around the start of the European Union ban on Dec. 5. With the return of big buyers, price-sensitive teapots are looking for alternatives such as Russian Arctic grades, Iranian and Venezuelan oil.

☆ China says drafting plans to boost recovery, expansion of consumption
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

BEIJING, April 19 (Reuters) - China is formulating plans to boost the recovery and expansion of consumption, the state planner's spokesperson Meng Wei said on Wednesday, signaling officials are worried about weak demand despite a sharp rebound in retail sales. The National Development and Reform Commission (NDRC) pledged to promote a sustained recovery in consumption. "Currently, we are working on drafting documents on the recovery and expansion of consumption, mainly focusing on key areas such as stabilising big-ticket consumption, enhancing service consumption and expanding rural consumption," said Meng. Meng, at a news conference, also mentioned stabilising of automobile consumption, which was a "big part" of supporting consumption, by promoting new energy vehicles to rural areas. "The international environment is still complex and ever-changing, constraints from insufficient domestic demand are obvious and the foundation for economic recovery is not solid," said statistics bureau spokesperson Fu Linghui on Tuesday.

☆ China condemns US sanctions on those allegedly involved in fentanyl trade
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: 1 min

BEIJING, April 17 (Reuters) - China condemns U.S. sanctions on Chinese firms and individuals over their alleged involvement in fentanyl trade, and has lodged representations with Washington, the Chinese foreign ministry said on Monday. "China, in the spirit of humanitarianism, has been trying to help the U.S. as best it can," spokesperson Wang Wenbin told a regular news briefing. Wang said repeated moves by the United States to impose sanctions "seriously undermines" bilateral cooperation in drug control. Washington on Friday imposed sanctions on two entities based in China and four Chinese nationals, accusing them of supplying precursor chemicals to drug cartels in Mexico for the production of illicit fentanyl intended for the United States. Reporting by Beijing Newsroom; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ China says hopes Germany supports peaceful Taiwan 'reunification'
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: +2 min

[1/4] German Foreign Minister Annalena Baerbock and Chinese Foreign Minister Qin Gang attend a joint press conference at the Diaoyutai State Guesthouse in Beijing, China, April 14, 2023. Suo Takekuma/Pool via REUTERSBEIJING, April 15 (Reuters) - China's top diplomat Wang Yi "hopes and believes" Germany will support China's "peaceful reunification" with Taiwan, the Chinese foreign ministry said in a statement on Saturday. Wang made the remarks at a meeting with German Foreign Minister Annalena Baerbock, who is visiting China until Saturday, adding that China once supported Germany's reunification. Taiwan's Foreign Ministry said in a statement on Saturday it strongly approved of Baerbock's comments. "The Foreign Ministry thanks many high-level officials in the executive departments of various countries, including Germany, for their solidarity with Taiwan," it said.

☆ Shanghai pushes carmakers for automotive chip investments
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: 1 min

Companies SAIC Motor Corp Ltd FollowBEIJING, April 15 (Reuters) - Shanghai will encourage SAIC Motor (600104.SS) and other vehicle manufacturers to actively participate in automotive chip investment, as well as support the formation of expert groups and industry alliances, government media The Paper reported on Saturday. Reporting by Beijing newsroom; Writing by Liz Lee; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ China hopes Germany supports peaceful Taiwan 'reunification' -Top diplomat
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: +1 min

[1/4] German Foreign Minister Annalena Baerbock and Chinese Foreign Minister Qin Gang attend a joint press conference at the Diaoyutai State Guesthouse in Beijing, China, April 14, 2023. Suo Takekuma/Pool via REUTERSBEIJING, April 15 (Reuters) - China's top diplomat Wang Yi "hopes and believes" Germany will support China's "peaceful reunification" with Taiwan, the Chinese foreign ministry said in a statement on Saturday. Wang made the remarks at a meeting with German Foreign Minister Annalena Baerbock, who is visiting China until Saturday, adding that China once supported Germany's reunification. Taiwan President Tsai Ing-wen's government rejects China's position, saying only Taiwan's people can decide their future. Wang also said China is willing to strengthen exchanges and communication with Germany to enhance mutual understanding and prepare for a new round of Sino-German government consultations.

☆ China willing to work with Germany on economy, trade
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

BEIJING, April 14 (Reuters) - China is willing to work with Germany on the economic and trade fronts, and the two countries are partners, not adversaries, its foreign minister, Qin Gang, said on Friday. Qin, addressing a joint news conference with his German counterpart, Annalena Baerbock, said artificially putting the brakes on normal economic and trade cooperation would be counter-productive. Remarking on the situation with Taiwan, Qin said if countries want to respect the One-China principle, then the proper move is to resolutely oppose Taiwan independence. On the issue of Ukraine, Qin said China was willing to continue to work for peace and hoped that all parties involved in the crisis would remain objective and calm and work together. Reporting by Beijing newsroom; Writing by Bernard Orr; Editing byOur Standards: The Thomson Reuters Trust Principles.

☆ China concerned about Japan's plan to curb chipmaking gear exports
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

BEIJING, April 13 (Reuters) - China is highly concerned about Japan's plan to put export curbs on 23 types of semiconductor manufacturing equipment, Wang Shouwen, a Chinese vice commerce minister, said. The comments were made on Wednesday during a meeting with Japan's ambassador, Hideo Tarumi, in Beijing. In a commerce ministry statement on Thursday, Wang urged Japan to follow World Trade Organization rules to maintain stability of global supply chains. Japan recently said it would restrict the chip equipment exports, aligning its technology trade controls with a U.S. push to curb China's ability to make advanced chips. Reporting by Beijing newsroom; Editing by Clarence Fernandez and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ China's March trade with Russia was robust despite weak global outlook
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

BEIJING, April 13 (Reuters) - China's exports to Russia more than doubled in March from a year earlier while imports also surged at a double-digit pace, Chinese customs data showed on Thursday, despite a gloomy global economic outlook. China's exports to Russia soared 136.4% in March to a total of $9 billion, significantly faster than a 19.8% growth registered in the first two months combined. The upbeat data on trade between the two countries comes amid slowing global growth. The International Monetary Fund on Tuesday cut its 2023 global growth forecasts to 2.8% from 2.9%, warning that financial system vulnerabilities could bring a new crisis. China, the world's top energy consumer, has saved billions of dollars on purchases of cheaper Russian oil and coal.

☆ China sanctions senior US lawmaker for visiting Taiwan
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: 1 min

BEIJING, April 13 (Reuters) - China's foreign ministry on Thursday announced sanctions against Michael McCaul, chairman of the U.S. House Foreign Affairs Committee, for "interfering" in the country's domestic affairs and for visiting Taiwan. McCaul visited Taiwan last week and met Taiwan President Tsai Ing-wen. Reporting by Beijing newsroom; Writing by Ben Blanchard; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ China's President Xi stresses need to deepen military training, preparation
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

BEIJING, April 12 (Reuters) - China's President Xi Jinping inspected his country's Southern Theatre Command navy on Tuesday and stressed the need to deepen military training and preparation, state media reported. Xi also said there was a need to improve the ability to respond to complex situations in a timely and appropriate manner, state media added. Xi also said that China will resolutrely defend its territorial sovereignty, maritime rights and interets, and strive to maintain stability in neighboring areas, state media said. Recently, China has quarrelled with the United States, claiming several times that a U.S. destroyer has operated in its territorial waters around the South China Sea. The United States and Philippines are also currently holding their largest joint military drills over shared concerns about China's assertiveness in the Asia-Pacific region.

☆ China proposes measures to manage generative AI services
▼ + stars: | 2023-04-11 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

HONG KONG, April 11 (Reuters) - China's cyberspace regulator unveiled draft measures on Tuesday for managing generative artificial intelligence services, saying it wants firms to submit security assessments to authorities before they launch their offerings to the public. The CAC said that China supports AI innovation and application and encourages use of safe and reliable software, tools and data resources, but content generated by generative AI had to be in line with the country's core socialist values. Providers will be responsible for the legitimacy of data used to train generative AI products and measures should be taken to prevent discrimination when designing algorithms and training data, it said. Providers will be fined, have their services suspended, or even face criminal investigations if they fail to comply with the rules. The public can comment on the proposals until May 10, and the measures are expected to come into effect sometime this year, according to the draft rules.

☆ US Navy says destroyer conducts navigational rights mission in South China Sea
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Arleigh Burke-class guided-missile destroyer USS Milius (DDG-69), deployed to the U.S. 7th Fleet area of operations, conducts underway operations, at an undisclosed location in South China Sea, in this handout picture released on April 10, 2023. U.S. Navy/Handout via REUTERSBEIJING, April 10 (Reuters) - The U.S. Navy said its guided-missile destroyer USS Milius conducted a navigational rights and freedoms mission in the South China Sea near the Spratly Islands on Monday. The U.S. Navy said the operation by the destroyer was consistent with international law. "At the conclusion of the operation, USS Milius exited the excessive claim area and continued operations in the South China Sea," a U.S. Navy statement said. Last month, China and the U.S. sparred over the movement of the USS Milius, which China said entered its territorial waters in the South China Sea near the Paracel Islands.

☆ Taiwan defence ministry says it spotted 59 Chinese military planes near Taiwan
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: 1 min

BEIJING, April 10 (Reuters) - The Taiwan defence ministry said it spotted 59 Chinese military planes near Taiwan up until 10 a.m. (0200 GMT) on Monday. The ministry said that, among them, 39 Chinese planes crossed the Taiwan Strait median line and entered Taiwan's air defence zones. Reporting by Beijing newsroom; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

[1/4] A Chinese warship fires at a target during a military drill near Fuzhou, Fujian Province, near the Taiwan-controlled Matsu Islands that are close to the Chinese coast, China, April 8, 2023. REUTERS/Thomas PeterFUZHOU, China, April 8 (Reuters) - A Chinese warship in seas facing the Taiwan Strait began live-fire drills on Saturday as Beijing began military exercises it calls a warning against what it considers pro-Taiwan independence forces. China views democratically governed Taiwan as its own territory and has never renounced the use of force to bring the island under its control. Smoke and muzzle flares were visible from the stern of the warship as shells were fired on targets on land and water. When asked about Taiwan, Zhao said he hopes the two sides could "reunite" as quickly as possible.

☆ China announces drills around Taiwan after US Speaker meeting
▼ + stars: | 2023-04-08 | by ( ) www.reuters.com time to read: +3 min

REUTERS/David Swanson/File PhotoBEIJING, April 8 (Reuters) - China will hold three days of military exercises around Taiwan from Saturday, the People's Liberation Army's Eastern Theatre Command announced, the day after Taiwan President Tsai Ing-wen returned from a trip to the United States. Tsai met U.S. House of Representatives Speaker Kevin McCarthy while in Los Angeles on Wednesday, angering Beijing, which views Taiwan as its own territory. Beijing staged war games around Taiwan, including live fire missile launches, in August after then-House Speaker Nancy Pelosi visited Taipei. Then, China published a map at the same time as its announcement of the drills showing which maritime areas near Taiwan it would be firing into. Xi responded by saying that expecting China to compromise on Taiwan was "wishful thinking", according to China's official reading of the meeting.

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