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☆ NASA administrator weighs in on China’s historic lunar far side samples — and potential US access
▼ + stars: | 2024-07-01 | by ( Kristin Fisher | ) edition.cnn.com time to read: +7 min

CNN —The government of China now possesses something that no other humans have ever encountered — rocks and soil from the far side of the moon. NASA Administrator Bill Nelson told CNN he’s “pleased to hear CNSA intends to share” the materials collected by the Chang’e-6 lunar probe last month. NASA Administrator Bill Nelson, shown here during a pre-launch news conference on Boeing's first crewed spacecraft, the Boeing Starliner, on May 3, said he's "pleased" China intends to share the lunar far side samples. China opened those samples to international scientists for the first time last August, and Nelson has given NASA-funded researchers the green light to apply for access. TheUS government has not landed a robotic spacecraft on the moon since 1968, but NASA is currently funding the development of lunar landers by private companies through its Commercial Lunar Payload Services, or CLPS program.

Persons: ”, Liu Yunfeng, Bill Nelson, CNN he’s “, CNSA, ” Nelson, he's, Miguel J, Rodriguez Carrillo, Bian Zhigang, Nelson, Artemis, Joel Kowsky, Artemis III, Odie Organizations: CNN, NASA, China National Space Administration, Boeing, AFP, Getty, Federal Bureau of Investigation, Apollo, Soviet, Soviet Union —, “, Beijing, Orion, Kennedy Space Center, NASA NASA, SpaceX, Payload Services, Astrobotic Technologies Locations: China, United States, Beijing, Soviet Union, Nelson, Florida

☆ Warren Buffett's Berkshire Hathaway raked in billions from BYD, the China EV maker Munger called a 'damn miracle'
▼ + stars: | 2024-06-30 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Sixteen years ago, Warren Buffett's Berkshire Hathaway unveiled a $230 million investment in Chinese electric vehicle startup BYD , sparking questions about the conglomerate's unusual foray into early-stage technology. Lately, Berkshire has been selling down the position, ringing the register after earning billions of dollars during its hyper-growth phase. Berkshire trimmed its BYD stake to 5.99% as of June 19 from 7% just a few days earlier , according to a Hong Kong Stock Exchange filing . It has since become the top car brand in China, as well as a major producer of EV batteries. "From a standing start at zero and with very little capital, he rapidly was able to create the best-selling single model in China," Munger said.

Persons: Warren Buffett's Berkshire Hathaway, Charlie Munger, —, Munger, Wang Chuanfu, he's, Buffett, Thomas Edison, Bill Gates, BYD, Tesla, Li Lu Organizations: Hong Kong Stock Exchange, Oracle, EV, Elon, Seattle, Capital, Berkshire Locations: China, Berkshire, Munger, Omaha, Shenzhen, Hong Kong

☆ A prominent think tank says China could take control of Taiwan without even launching an invasion — here's how
▼ + stars: | 2024-06-30 | by ( Cameron Manley | ) www.businessinsider.com time to read: +6 min

Read previewChina could take control of Taiwan without ever having to invade, a prominent think tank has said. China has already begun carrying out certain elements of such a campaign, launching increasing military exercises around the island. AdvertisementHowever, a "law enforcement-led gray zone operation" would complicate any third-party intervention, per the CSIS report. Tensions between China and Taiwan are increasing by the dayRelations between Taiwan and China remain on a knife edge. Chinese military exercises off Taiwan.

Persons: —, stoking, RHSKKjXtOu, pzmpXbWd0k —, Sidharth, Feng Hao, Joe Biden, Dong Jun, Xi Jinping, Gui, Tom Shugart Organizations: Service, Washington DC, for Strategic, International Studies, Business, pzmpXbWd0k — CSIS, China Coast Guard, Maritime, Administration, American Enterprise Institute, Institute for, Royal United Services Institute, CNN, PLA, China Military, Anadolu, Getty, Taiwan Relations, CSIS, Chinese Defense, US Navy, Center, New, New American Security Locations: China, Taiwan, Taiwan Strait, Singapore, Beijing, Gui Xinhua, New American

HANGZHOU, China — Apple 's mixed-reality headset began deliveries in China on Friday with a retail price roughly 18% higher than in the U.S. The device starts at 29,999 yuan ($4,128) in China, compared with a $3,500 retail price in the U.S. When asked by CNBC, a customer surnamed Chen in Beijing said his suggestion to Apple CEO Tim Cook was to make Vision Pro cheaper by about 10,000 yuan ($1,376). Greater China accounted for about 18% of Apple's revenue in the three months ended March 30, according to an Apple filing. Chen pre-ordered his Vision Pro and was at a major store in Beijing to pick it up and receive some training on how to use it.

Persons: Chen, Tim Cook, salespeople Organizations: U.S, CNBC, Vision, Apple, Huawei, Beijing — Locations: HANGZHOU, China, U.S, Beijing, Weibo, Greater China

☆ Trade feuds aside, Chinese firms are committed to the U.S. market, survey shows
▼ + stars: | 2024-06-26 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

A recent survey of Chinese enterprises in the U.S. has found that a majority remain bullish on the market long term despite growing concerns about U.S.-China relations and the broader business environment. The survey was conducted in April and May of this year, polling nearly 100 Chinese companies across various industries about performance and outlook. The report said Chinese firms remain committed to the U.S. market despite growing negative sentiment about the overall business environment amid rising trade tensions between the world's two largest economies. Over 60% of survey respondents saw a deteriorating business environment in the U.S. Over the past year, the Biden administration has ramped up curbs on Chinese businesses, scrutinizing certain China-dominated industries, placing new sanctions on various Chinese firms and goods and trying to outright block Chinese ownership of certain companies and platforms.

Persons: CGCC, Biden Organizations: Chamber of Commerce Locations: U.S, China

☆ China's EV architect says investing in Europe is a way forward
▼ + stars: | 2024-06-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

HEFEI, China — The man who spearheaded China's electric car strategy on Wednesday said that Chinese investment in the European electric vehicles industry could be a way forward for both sides amid trade tensions. Spokespersons for China's foreign ministry and the European Commission were not immediately available when contacted by CNBC. China's Ministry of Commerce said over the weekend that it was launching consultations with the EU over the bloc's probe into the role of subsidies in Chinese electric cars. The EU said earlier this month that it would increase tariffs on imports of the vehicles. "Even though we are not exporting a large number of EVs, perhaps the Chinese companies can try investing in Europe," Wan said, noting that such funding could create local jobs.

Persons: Wan Organizations: Wan Gang, China Association for Science, Technology, European Commission, CNBC, China's Ministry of Commerce, EU Locations: HEFEI, China, EU, Dalian, Europe

☆ San Diego Zoo: First panda pair to enter the US in 21 years take off from China
▼ + stars: | 2024-06-26 | by ( Jessie Yeung | ) edition.cnn.com time to read: +4 min

They were given a celebratory farewell at the Chinese base, attended by American and Chinese dignitaries, including performances and a gift exchange, according to a statement from the San Diego Zoo Wildlife Alliance. China loans pandas to more than 20 countries under a program often referred to as “panda diplomacy.” Its panda loans with Washington stretch back to 1972 – though the number of loans have decreased in recent years as US-China relations have worsened. The San Diego Zoo, one of the world’s most renowned, was the first American institution to carry out cooperative research on giant pandas with China. Yun Chuan’s mother, Zhen Zhen, was born at San Diego Zoo in 2007 to parents Bai Yun and Gao Gao, according to a press release issued by San Diego Zoo in April. Grandmother Bai Yun was born in China in 1991, and arrived at the San Diego Zoo in 1996.

Persons: Yun Chuan, Xin Bao, Xi Jinping, –, Yun Chuan’s, Zhen Zhen, Bai Yun, Gao Gao, Grandmother Bai Yun, Xi, Joe Biden, “ Organizations: CNN, Diego’s, China Conservation and Research Center, San Diego Zoo, San Diego Zoo Wildlife Alliance, Washington, World Wildlife Fund, Smithsonian National Zoo, Zoo Atlanta, Economic Cooperation Locations: China, California, Beijing, United States, Sichuan province, Ya'an City, Sichuan, Washington ,, Asia, San Francisco

☆ Here are Wednesday's biggest analyst calls: Nvidia, Amazon, Alphabet, FedEx, Tesla, Caterpillar, Shopify, Disney & more
▼ + stars: | 2024-06-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are the biggest calls on Wall Street on Wednesday: Stifel initiates Tesla at buy Stifel said it's bullish on Tesla for the long term. JPMorgan upgrades FedEx to overweight from neutral JPMorgan upgraded the shipping giant following earnings on Tuesday. Jefferies reiterates Alphabet as buy Jefferies said its survey checks show Alphabet is top of mind for consumers when it comes to AI. Citi reiterates Nvidia as buy Citi raised its price target on Nvidia to $150 per share from $126. Morgan Stanley downgrades Accenture to equal weight from overweight Morgan Stanley said shares of the IT company are "no longer" attractive.

Persons: Tesla, Stifel, it's, Piper Sandler, Piper, Goldman Sachs, Goldman, Mark Clouse, Carrie Anderson, Rebecca Gardy, Wolfe, HOOD, Warnick, Shopify, Rosenblatt, Nike's, Morgan Stanley, Jefferies, GOOGL, Stephens, Wells, BTIG, Northrop, Rivian, Piper Sandler downgrades Aptiv Organizations: JPMorgan, FedEx, Campbell, Barclays, Nu Holdings, BMO, Steel, Nippon, US Steel, X, Digital Realty, Citi, U.S, Caterpillar, Apple, Apple Intelligence, Android, UBS, Nike, Nvidia, Davidson, Home, Bank of America, " Bank of America, shipper, UPS, Cruises, Northrop Grumman, VW, JV, Accenture Locations: 1Q24, Mexico, Brazil, China, Houston, U.S, Rivian

☆ I worked in China for 8 years. These 3 differences set the work culture apart from the Western world.
▼ + stars: | 2024-06-25 | by ( Isabelle Aron | ) www.businessinsider.com time to read: +7 min

Read previewThis as-told-to essay is based on a transcribed conversation with Sue Campbell, 58, about relocating to China for work. I was often the liaison between international clients and the team in China, helping everyone understand each other better. Employees in China were very conscious of their place in the company hierarchyHierarchies were very apparent in Chinese work culture. In China, people seemed to take pride in their work and I think they didn't want to make themselves look bad. If anybody has the chance to work in Asia, I'd recommend it.

Persons: —, Sue Campbell, Louis Vuitton, I'd, who'd, KIND2 Organizations: Service, Louis, Business, consultancy's, Employees Locations: China, Hong Kong, Asia, Shanghai, Australia, consultancy's Asia

☆ China’s Chang’e-6 moon mission returns to Earth with historic far side samples
▼ + stars: | 2024-06-25 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

Hong Kong CNN —China’s Chang’e-6 lunar module returned to Earth Tuesday, successfully completing its historic mission to collect the first ever samples from the far side of the moon in a major step forward for the country’s ambitious space program. “The Chang’e-6 lunar exploration mission has been a complete success,” said Zhang Kejian, head of the China National Space Administration (CNSA), from the control room. Once they receive the samples, Chinese scientists are expected to share data and carry out joint research with international partners, before Beijing later opens the samples for access by international teams, according to statements from CNSA officials. China and the US are not alone in eyeing the national prestige, potential scientific benefits, access to resources and further deep space exploration that successful moon missions could bring. Last year, India landed its first spacecraft on the moon, while Russia’s first lunar mission in decades ended in failure when its Luna 25 probe crashed into the moon’s surface.

Persons: China’s, ”, Zhang Kejian, Xi Jinping –, –, zhong ”, Luna, James Head, Yuqi Qian, Artemis, Bill Nelson, ” Nelson Organizations: Hong Kong CNN, Tuesday, CCTV, China National Space Administration, CNN, Brown University, “, University of Hong, International, NASA, Luna Locations: Hong Kong, Mongolia, United States, Beijing, China, Soviet, University of Hong Kong, India, Japan, Texas, Chang’e

☆ 34 stocks ready to outperform if Donald Trump retakes the White House and implements an 'America First' policy, according to Goldman Sachs
▼ + stars: | 2024-06-25 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Even though the S&P 500 has risen under Trump and Biden, the candidates' policy differences will likely have a significant impact on which stocks outperform, according to Goldman Sachs. 34 US-focused stocks to ownTrump's so-called "America First" agenda appears to be a tailwind for companies that generate most or all of their sales in the US, according to Goldman Sachs. Kostin and his colleagues recently highlighted their domestic sales basket, which comprises 50 stocks in the S&P 500 with that description. Within that group, there are 34 companies that Goldman Sachs said generated 0% of their revenue from outside the US in the last year. Below are 34 stocks that are set to outperform if Trump wins and implements tariffs, along with each stock's ticker, market capitalization, sector, and revenue from the previous 12 months.

Persons: —, Joe Biden, Donald Trump, Goldman Sachs, David Kostin, Trump, Kostin, it's Organizations: Service, Republicans, Democratic, Business, White, Biden, Trump, Goldman Locations: China

☆ China’s Chang’e-6 lunar probe returns with first-ever samples from far side of the moon
▼ + stars: | 2024-06-25 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

The Chang'e-6 probe being successfully launched from China's Wenchang Spaceport in Wenchang, Hainan Province, China, on May 3, 2024. China's Chang'e-6 lunar probe returned to Earth on Tuesday, bringing back the first-ever samples from the unexplored far side of the moon. Chang'e-6 returned to Earth with soil collected from the South Pole-Aitken Basin — a massive crater in the lunar hemisphere that always faces away from Earth. In total, Chang'e-6 mission took 53 days from its May 3 departure from the Wenchang Space Launch Center in Hainan, an island off China's south coast. The far side of the moon was first captured in images in 1959 by the Soviet Luna 3 spacecraft.

Persons: China's, Xi Jinping, Soviet Union —, Neil Armstrong Organizations: China National Space Administration, Soviet Luna, Washington, NASA Locations: Wenchang, Hainan Province, China, Inner Mongolia, Chang'e, Hainan, Beijing, India, Soviet, U.S, Soviet Union, Cold

☆ A US diplomat says US colleges need more Chinese students to enroll — but in the arts, so they can be walled off from accessing sensitive tech
▼ + stars: | 2024-06-25 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

But he added that the US does need more Chinese students, too — just not in STEM. AdvertisementHe also cited security concerns about letting Chinese students access sensitive technology. But even now, Chinese students say that they have been facing extra scrutiny while entering the US. The Washington Post, citing online discussion forums, reported in March that Chinese students were questioned for hours at US border controls, or had their visas canceled without valid reasons. In April, the Senate passed a bill that, if signed into law by President Joe Biden, will force Chinese tech company Bytedance to sell video site TikTok.

Persons: —, Kurt Campbell, Campbell, There's, Trump, Donald Trump, Joe Biden, Campbell didn't Organizations: Service, of Foreign Relations, Business, Trump, China Initiative, Department of Justice, Washington, Institute of International Education, American, Apple, Counterpoint Research, Huawei Locations: United States, China

☆ Efficiency helped turn Silicon Valley around. China is taking it to the extreme to do the same.
▼ + stars: | 2024-06-24 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Now, China's tech bosses seem ready to do the same. AdvertisementChina is pushing tech workers even harderChinese tech companies seem willing to take Silicon Valley's efficiency mantra even further. Big names on China's tech scene, like JD.com and Jack Ma's Alibaba, have faced a threat from fast-growing newcomers like Pinduoduo, the sister company of online marketplace Temu. AdvertisementQu left Baidu after her comments were made public, but the ferocity of what China's tech workers are hearing isn't abating.

Persons: —, Mark Zuckerberg, Andy Jassy, Meta's Mark Zuckerberg, Richard Liu, Liu, Jack Ma's Alibaba, Pinduoduo, Jack Ma, Wang, Ma's Alibaba, aren't, Qu Jing, Qu, Baidu, isn't Organizations: Service, Business, Financial Times, Bloomberg, China Labor Watch, Baidu Locations: China, Beijing

☆ Southeast Asia is a top choice for firms diversifying supply chains amid U.S.-China tensions
▼ + stars: | 2024-06-24 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +5 min

Skyline, Ho Chi Minh City, Vietnam John Harper | Photodisc | Getty ImagesSoutheast Asia has emerged as a top choice for firms looking to diversify production away from China, including Chinese companies, amid escalating tensions between Washington and Beijing. "Southeast Asia is well-placed to benefit significantly from the China+1 phenomenon as both foreign and Chinese companies diversify their supply chains and operations," said Kuo-Yi Lim, co-founder and managing partner of Southeast Asian venture capital firm Monk's Hill Ventures. "The ASEAN-6 region has benefited from a diversification of global and regional supply chain as well as the adoption of 'China+1' strategies. MalaysiaMalaysia has seen semiconductor firms including Intel, GlobalFoundries and Infineon setting up or expanding operations in the country over the last few years amid U.S.-China tensions. Chinese electric vehicle maker BYD plans to start commercial production of EVs in Indonesia in 2026, according to local reports.

Persons: Vietnam John Harper, Kuo, Yi Lim, Lim, Yinglan Tan, Kai Wei Ang, CNBC's, It's, Ang, Anders C, Johansson, –, Sokon – Organizations: Photodisc, Getty, Monk's Hill Ventures, ASEAN, Hong Kong SAR, Apple, Ventures Partners, Samsung, BofA Securities, Intel, GlobalFoundries, Infineon, U.S, Monk's Hill Ventures . Industry, Malaysia that's, Stockholm China Economic Research, Stockholm School of Economics, Chery, Singapore Locations: Chi Minh City, Vietnam, Asia, China, Washington, Beijing, Monk's, Indonesia, Malaysia, Philippines, Thailand, Singapore, U.S, Japan, European Union, China & Hong Kong, Hong Kong, Vietnam Vietnam, ASEAN, Malaysia Malaysia, Stockholm China, EVs

Citi analyst Andrew Kaplowitz upgraded his rating for the heating and ventilation company to buy from neutral. The analyst accompanied the move by upping his price target to $74 from $65, implying that shares of Carrier Global could rally 17% going forward. The financial institution raised its price target for Nvidia to $150 from $135. Analyst Erin Wright stood by her overweight rating on the health insurance stock, reiterating her $595 price target. Wright set a price target of $374, which is 23% higher than the insurance company's Friday closing price of $355.48.

Persons: Goldman Sachs, Andrew Kaplowitz, CARR, Kaplowitz, — Lisa Kailai Han, Jefferies, Blayne Curtis, kingmaker, Curtis, Lisa Kailai Han, Morgan Stanley, UnitedHealth, Morgan Stanley's, Erin Wright, Wright, Bernstein, Stephen Reitman, Ferrari, Reitman, Ferrari's, Sanjeet Aujla, Aujla, BUD, Christopher Danely, Danely, James Schneider, Schneider, Fred Imbert Organizations: CNBC, Monday, Citi, Micron Technology, IBM, Carrier Global, Carrier, Nvidia, Humana, Ferrari, UBS, Anheuser, Busch InBev It's, Busch InBev, Micron, Citi Citi, Dow Jones Industrial, Dow Locations: China, UnitedHealth, U.S, Friday's

☆ Suspected Chinese rocket debris seen falling over village after launch, video shows
▼ + stars: | 2024-06-24 | by ( Nectar Gan | Yong Xiong | ) edition.cnn.com time to read: +6 min

CNN geolocated the video to be filmed from Xianqiao village in Guizhou province, neighboring the launch site province of Sichuan to the southeast. Other videos circulating on Chinese social media platforms analyzed by CNN showed multiple angles of the falling debris. A screengrab taken from video shows suspected Chinese rocket debris falling over Xianqiao village, Guizhou Province, China, following a launch. Before each launch, China’s civil aviation authority typically issues a notice to pilots, known as NOTAM, to warn them against the “temporary danger areas” where rocket debris are likely to be falling. In 2002, a boy in northern China was injured when fragments from a satellite launch fell on his village in Shaanxi province.

Persons: Xi Jinping, Markus Schiller, unsymmetrical, ” Schiller, ”, Schiller, who’s, China –, Russia – Organizations: Hong Kong CNN, CNN, China Aerospace Science, Technology Corporation, State, Information Office, Residents, Stockholm International Peace Research Institute, NASA, European Space Agency, ST Analytics Locations: Hong Kong, China, 3p.m, Sichuan, France, United States, Xianqiao, Guizhou province, Guizhou, Xinba, Guizhou Province, Stockholm, Jiuquan, Taiyuan, Hainan Island, Munich, Germany, Western, Russia, Hunan Province, Shaanxi province, “, Maldives

☆ China's ByteDance is reportedly working with Broadcom to develop advanced AI chip
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: +3 min

BEIJING — China's ByteDance is working with U.S. chip designer Broadcom on developing an advanced AI processor, two sources familiar with the matter told Reuters, a move that would help TikTok's owner secure sufficient supply of high-end chips amid U.S.-Sino tensions. Securing AI chips is crucial for ByteDance to make its algorithms more powerful. To support its AI push, ByteDance has stockpiled Nvidia chips, according to a separate person who was briefed on the matter. Bytedance currently has hundreds of semiconductor-related job openings posted, including 15 for ASIC chip designers, according to checks of its website. It has also been poaching top people from other Chinese AI chip firms, according to one of the sources who has direct knowledge of this issue.

Persons: TSMC, ByteDance, Bailly, Bytedance Organizations: BEIJING, U.S, Broadcom, Reuters, ByteDance, supercomputing, China's, Competition, Huawei HWT.UL, Nvidia Locations: Washington, U.S, China, ByteDance

☆ Vladimir Putin and Kim Jong Un are getting closer — and China has reason to be worried
▼ + stars: | 2024-06-24 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Read previewRussia's President Vladimir Putin and North Korean leader Kim Jong Un recently signed a defense pact to protect against what they characterized as the malign forces of US imperialism. AdvertisementXi Jinping and Kim Jong Un watch a large group callisthenics and art performance at the May Day Stadium in Pyongyang, DPRK, June 20, 2019. An emboldened Kim Jong UnRussia's extra military power could embolden Kim to act more erratically and aggressively. AdvertisementThis means that China has enough influence over both Russia and North Korea to exert control over their new alliance. However, "they do know that China plays an irreplaceable role for both Russia and North Korea," she said.

Persons: —, Vladimir Putin, Kim Jong, it's, Putin, Kim, Xi Jinping, Danny Russel, Obama, Xi, embolden Kim, Russell, Yun Sun Organizations: Service, North, Business, Associated Press, Xinhua, Agency, Getty Images, Stimson, CNN Locations: East Asia, Russia, North, China, DPRK, Asia, North Korea, Korea, Ukraine, Beijing, Pyongyang, Getty Images Russia, Washington

☆ Here are Monday's biggest analyst calls: Nvidia, Amazon, IBM, Micron, Apple, Tesla, Broadcom, Planet Fitness, UnitedHealth & more
▼ + stars: | 2024-06-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley initiates Ryder System as overweight Morgan Stanley said the transformation is underway for the transport company. " Morgan Stanley names UnitedHealth a top pick Morgan Stanley said the health-care company is compelling. "With this note, we are adjusting our Top Pick to UNH (from CI), where its relative share price performance presents an opportunity in our view." Morgan Stanley initiates Elevance Health as overweight Morgan Stanley called out Elevance Health's earnings power as it initiated coverage of the stock. " Melius reiterates Apple as buy Melius raised its price target on Apple to $260 per share from $227.

Persons: Jefferies, kingmaker, CARR, Goldman Sachs, Goldman, Morgan Stanley, Ryder, UnitedHealth, Bernstein, Tesla, TD Cowen, TD, it's, Melius, BEV, Eli Lilly, LLY Organizations: Nvidia, Citi, Micron, Carrier, UBS, Anheuser, Busch InBev, IBM, Bank of America, Broadcom, VMWare, CI, Elevance Health, Cherniere Energy, Cheniere Energy Inc, Ally, Barclays, Apple, " Bank of America, Alexa, Reuters, China, JPMorgan, Royal Locations: LLY, Royal Caribbean

☆ China is watching warily as Putin and Kim forge new ‘alliance’
▼ + stars: | 2024-06-23 | by ( Nectar Gan | ) edition.cnn.com time to read: +8 min

Putin said Russia and North Korea have ramped up ties to a “new level.” Kim, meanwhile, called the new “alliance” a “watershed moment” in bilateral relations. In contrast, the reaction from China, the main political and economic patron for both Russia and North Korea, has been all but muted. “But they do know that China plays an irreplaceable role for both Russia and North Korea,” she said. China remains the largest trade partner to both Russia and North Korea, providing a crucial lifeline to the heavily sanctioned economies. “China doesn’t think that an alliance between Russia and North Korea would be a betrayal,” said Liu with the City University of Hong Kong.

Persons: Vladimir Putin glided, Kim Jong, Xi Jinping, Kim, Putin, ” Kim, Xi, Liu Dongshu, Liu, Kim Jong Un, ” Liu, Beijing doesn’t, Alexander Ryumin, ”, Edward Howell, Russia –, ” Yun Sun Organizations: Hong Kong CNN, Benz, China’s Foreign, City University of Hong, KCNA, North Korea Treaty, Cooperation, Mutual Assistance, Getty, –, University of Oxford, North, Stimson Locations: China, Hong Kong, Pyongyang, Beijing, North Korea, Russia, United States, Japan, South Korea, Ukraine, Northeast Asia, City University of Hong Kong, Soviet Union, Friendship, North, Korean, Russian, Iran, Moscow, United Kingdom, Washington

☆ How Chinese EV makers are slowly taking over the world
▼ + stars: | 2024-06-22 | by ( Tom Carter | ) www.businessinsider.com time to read: +14 min

Chinese carmakers accounted for 88% of the EV market in Brazil and 70% in Thailand in Q1, according to ABI Research figures. The EV markets in many of these countries are small now, but they're growing rapidly. This is because Chinese automakers are known for their ability to build electric cars for less than their foreign competitors. Australian Senator and shadow cyber-security minister James Paterson said earlier this year that Chinese EVs pose a growing cybersecurity risk. "India is still a little wary of the Chinese market," said Dylan Khoo, an analyst at ABI Research.

Persons: —, BYD, Joe Biden, Bill Russo, Susan Walsh Sam Fiorani, Luiz Inácio Lula da Silva, São Paulo, Luiz Inacio Lula da Silva, Marcel Martin, Katherine Tai, Elon Musk, SONNY TUMBELAKA, They're, Automobility, Tesla, John Keeble, James Paterson, Fiorani, Indranil Aditya, Dylan Khoo, Warren Buffett, Xpeng, William Li, HECTOR RETAMAL, America's, Russo, WuYuan Organizations: Service, Detroit, EV, Business, Research, Ford, Toyota, Volkswagen, EU, AP, AutoForecast Solutions, Brazilian Electric Vehicle Association, Great Wall Motors, Anadolu Agency, Getty, International Council, Clean Transportation, Chery, Total, China Passenger Car Association, Reuters, Honda, Mitsubishi, International Energy Agency, Federal, of Automotive Industries, SAIC, AutoForecast, BYD, SAIC Motors, India's, ABI Research, Union Locations: Camaçari, Brazilian, Bahia, Brazil, Mexico, Southeast Asia, Europe, Thailand, China, Shanghai, EU, São, Johannesburg, South Africa, Southeast Asia Southeast Asia, Malaysia, Vietnam, Indonesia, Indonesia's West Java, Philippines, Australia, Hangzhou, Queensland, India India, India, Europe Europe, Hungary, France, Spain, Portugal, South Korea

☆ China's ax-wielding clash at sea with the Philippines is a way to 'exhaust' it into accepting territory claims, expert says
▼ + stars: | 2024-06-21 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +6 min

The incident on Monday is the latest "gray-zone" skirmish in the South China Sea, where China has increasingly used nonlethal but highly provocative measures to harass other countries there. China has claimed sovereignty over the South China Sea for decades, a claim that was roundly rejected in the Hague in 2016. On Saturday, it enacted a law allowing its Coast Guard to seize foreign ships suspected of trespassing, CNN reported. It comes after several other aggressive acts from Beijing in the South China Sea in recent months, involving lasers, water cannons, maritime militias, and even the alleged poisoning of fishing waters. A screen grab from a video provided by the Philippine Coast Guard showing Chinese vessels shooting water cannons at a ship in the South China Sea, on April 30, 2024.

Persons: —, Sari Arho Havrén, Collin Koh, Havrén, Xi Jinping, Biden, Joe Biden, Xi, Xi's Organizations: Service, Business, Coast Guard, CNN, Royal United Services Institute, AFP, —, Forces, Armed Forces, China Coast Guard, South China, Chinese Coast Guard, Philippine Coast Guard, Rajaratnam, of International Studies, Getty, Financial Times Locations: South China, China, South, Hague, Philippines, AFP, Palawan, Philippines China, Beijing, Singapore, Japan, Taiwan, Gaza, Ukraine

☆ China talks up support for IPOs. Investors are watching the speed of approval
▼ + stars: | 2024-06-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mike Segar | ReutersBEIJING — Chinese authorities this week announced new policy for supporting venture capital, raising hopes for faster approvals of initial public offerings in the near future. The new policy included a section on expanding exit channels for venture capital, with an emphasis on supporting companies with technological breakthroughs. Investors, especially those who put U.S. dollars into China-based venture capital funds, have preferred IPOs in the U.S. as the largest and most liquid market. Separately, the U.S. has increased its scrutiny of U.S. capital going into China, especially military-related entities. The China Securities Regulatory Commission has increased fines for misleading investors and clarified requirements for overseas IPOs.

Persons: Mike Segar, Marcia Ellis, Morrison Foerster, Ellis, Winston Ma, Ming Liao, Didi, Morrison Foerster's Ellis, Fang Xinghai, Fang Organizations: New York Stock Exchange, Reuters, State Council, U.S, Venture, NYU School of Law, Investors, Prospect, CNBC, China Securities Regulatory Commission Locations: Manhattan, New York City , New York, U.S, Reuters BEIJING, China, Prospect Avenue, Hong Kong, London

☆ How China could take Taiwan without even needing to invade
▼ + stars: | 2024-06-21 | by ( Brad Lendon | ) edition.cnn.com time to read: +12 min

“China has significantly increased pressure on Taiwan in recent years, stoking fears that tensions could erupt into outright conflict. China’s escalating gray zone tactics were on stark display this week as China Coast Guard vessels clashed with Philippine Navy boats in the South China Sea. In the 24 hours ending at 6 a.m. Friday, 36 Chinese military aircraft crossed into Taiwan’s air defense identification zone, Taiwan’s Defense Ministry says. Meanwhile, a quarantine, rather than a blockade, would not require China to close or restrict access to the Taiwan Strait, the CSIS report notes. Under its claims that Taiwan is Chinese territory, Beijing could require customs declarations to be filed before vessels can call in Taiwan.

Persons: CNN —, Beijing’s, Xi Jinping’s, Bonny Lin, Brian Hart, Matthew Funaiole, Samantha Lu, Tinsley, stoking, Adm, Dong Jun, ”, Dong, China’s, “, Joe Biden, Rong Xu, Carl Schuster, ” Schuster, Alessio Patalano, Sidharth Kaushal, Patalano Organizations: CNN, Communist Party, Center for Strategic, International Studies, China Coast Guard, CSIS, TAIWAN, GUARD, People’s Liberation Army, PLA, Chinese Defense, Philippine Navy, Taiwan Relations, White, PLA Navy, Maritime Safety Agency, Taiwan’s Defense Ministry, Bloomberg, Getty, “, Pacific Command’s Joint Intelligence Center, Taipei, King’s College, Taiwan’s Ministry of Economic Affairs, Imports, Royal United Services Institute Locations: Taiwan, Ukraine, China, Washington, United States, Pengjia, Beijing, Singapore, South China, Manila, Second, Philippines, Taiwan’s, Taiwan Strait, Port, Taichung, Kaohsiung, London, Covid

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