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March 28, 2024, 2:48 p.m.
5 major challenges that have China headed for a '100-year storm,' according to billionaire investor Ray Dalio
5 major challenges that have China headed for a '100-year storm,' according to billionaire investor Ray Dalio
['Dalio', 'China', 'country', 'US', 'include']

They include a big debt problem, a growing internal wealth gap, and increasingly fraught foreign relations with the US.

5 major challenges that have China headed for a '100-year storm,' according to billionaire investor Ray Dalio

The billionaire investor Ray Dalio says five major trends have China headed for a "100-year storm." There are major economic and geopolitical challenges brewing a "100-year storm" in China, says the billionaire investor Ray Dalio. In a LinkedIn post on Wednesday, Dalio listed five major forces casting a shadow on Beijing, detailing headwinds he says have been building up over the past four decades. Then there's a growing internal wealth gap that has spurred the government to push for more "Common prosperity," Dalio said. Businesses have been caught in the crossfire too, trying to appease the US. "In trade and capital flows, a cat-and-mouse game has developed that has led companies and people to move to neutral countries and to try to appear to be non-Chinese or not Chinese sympathizers, so much so that the Chinese are having problems getting other countries and companies to accept them being there and/or investing in them," Dalio wrote. China is also dealing with a technological war with the US, Dalio wrote. "The circumstances and the mood in China have indisputably changed to become more threatening," Dalio said.

March 28, 2024, 2:15 p.m.
China's chipmaking tool purchases skyrocket — imports up 256% in the face of intensifying U.S. sanctions
China's chipmaking tool purchases skyrocket — imports up 256% in the face of intensifying U.S. sanctions
['imports', 'system', 'China', 'region', 'new']

Chinese companies accelerate procurement of ASML's litho tools in January and February.

China's chipmaking tool purchases skyrocket — imports up 256% in the face of intensifying U.S. sanctions

Despite U.S.-led restrictions on wafer fab equipment exports to China, the People's Republic saw a remarkable increase in its imports of lithography systems from the Netherlands in the first two months of 2024. The surge in imports can be traced back to the Netherlands' announcement in June 2023 of restrictions on the export of chip manufacturing equipment. In the first two months of 2024, China's imports of lithography systems from the Netherlands totaled $1.057 billion, a substantial increase compared to the same period last year. In January, 20 systems were imported, worth $666 million, a 522% increase year-on-year. In February, imports were valued at $390 million, up 105.9% year-on-year, with 12 systems brought in. The imports were concentrated in a few key regions within China. The top five providers to ship litho tools were Shanghai, Beijing, Shandong, Sichuan, and Guangdong, which accounted for 78.4% of the total imports.

March 28, 2024, 2:05 p.m.
China's Continuing Market Distortions Deserve A New Kind Of Response
China's Continuing Market Distortions Deserve A New Kind Of Response
['ACMD', 'China', 'trade', 'sanction', 'international']

Chinese market distortions require a U.S.-led multilateral response to offset harmful effects on American competitiveness and the global economy.

China's Continuing Market Distortions Deserve A New Kind Of Response

China's policies are quintessential "Anticompetitive market distortions," or ACMDs - government-imposed discriminatory restrictions that largely fall outside the scope of existing national trade and competition laws. A viable response to China's ACMDs, which I outlined in a contribution to the Global Dictionary of Competition Law, may be possible. "China is now using its state-led, non-market approach to the economy and trade in ways designed to secure the dominance of Chinese enterprises, both in the China market and in global markets. As part of this pursuit of international dominance, China is targeting both traditional industries and emerging industries, not only by providing its own industries with unprecedented financial and regulatory support but also by actively pursuing policies and practices that are calculated to disadvantage and ultimately displace foreign competitors." Unless and until China faces significant international sanctions that impose a serious cost on its use of ACMDs, it will have no incentive to eliminate them. Even more significantly, cost measures could be used to develop targeted trade sanctions calibrated to counteract specific ACMDs, in China and elsewhere. Applying the model to India in a 2016 report published by the Legatum Institute, the authors concluded that India's domestic GDP would rise dramatically if all its ACMDs were replaced by procompetitive policies, making it the fourth-largest economy in the world, behind only the EU, United States and China. A subsequent 2019 study prepared by the Centre for Economics and Business Research found that a within-country ACMD that eliminates one-quarter of beneficial commercial transactions between companies and consumers also reduces global output by roughly 14%. An Anti-ACMD Strategy For China.

March 28, 2024, 10:58 a.m.
As Threats in Space Mount, USA Lags in Protecting Key Services...
As Threats in Space Mount, USA Lags in Protecting Key Services...
['satellite', 'signal', 'time', 'system', 'space']

As Threats in Space Mount, USA Lags in Protecting Key Services... (Third column, 2nd story, link)

As Threats in Space Mount, USA Lags in Protecting Key Services...

Global positioning satellites serve as clocks in the sky, and their signals have become fundamental to the global economy - as essential for telecommunications, 911 services and financial exchanges as they are for drivers and lost pedestrians. Those services are increasingly vulnerable as space is rapidly militarized and satellite signals are attacked on Earth. One Chinese satellite has a robotic arm that could destroy or move other satellites. Because low-Earth-orbit satellites are smaller and more dispersed, they are less vulnerable than GPS satellites to an attack in space. In the American GPS system, for example, each satellite carries atomic clocks and transmits radio signals with information about its location and the precise time. Some critical civilian systems were designed with a flawed assumption that satellite signals would always be available, according to the U.S. Cybersecurity and Infrastructure Security Agency. Satellite signals are transmitted on a narrow radio band, which makes it difficult for one nation to jam another's satellite signals without shutting off its own services.

March 28, 2024, 10:53 a.m.
Philippines's Marcos promises measures after China's 'dangerous attacks'
Philippines's Marcos promises measures after China's 'dangerous attacks'
['content', 'advertising', 'choices', 'manage', 'device']

President says country to respond to South China Sea confrontations with proportionate measures after soldiers injured.

Philippines's Marcos promises measures after China's 'dangerous attacks'

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March 28, 2024, 10:18 a.m.
China determined to advance its technology despite US-led restrictions, Xi Jinping tells Dutch Prime Minister
China determined to advance its technology despite US-led restrictions, Xi Jinping tells Dutch Prime Minister
['China', 'advanced', 'ASML', 'equipment', 'Dutch']

Xi met Rutte on Wednesday for discussions relating to areas that included the semiconductor industry. "The Chinese people also have legitimate development rights, and no force can stop the pace of China's scientific and technological progress," said Xi, accor…

China determined to advance its technology despite US-led restrictions, Xi Jinping tells Dutch Prime Minister

What just happened? The US-led campaign to restrict China's access to advanced technologies will not deter its scientific and technological progress, according to President Xi Jinping, who made the statement during his meeting with Dutch Prime Minister Mark Rutte. The Netherlands restricted exports of ASML's advanced chipmaking equipment to China last year, a move prompted by the US. Xi met Rutte on Wednesday for discussions relating to areas that included the semiconductor industry. The president added that China will "Continue to pursue a win-win approach." At the start of the year, ASML announced that a license for the shipment of NXT:2050i and NXT:2100i lithography systems had been partially revoked by the Dutch government, impacting a small number of customers in China. China was ASML's second-largest customer in 2023, accounting for 29% of its revenue as Chinese companies rushed to buy its chipmaking equipment before the new licensing rules came into effect, writes Associated Press. Rutte downplayed the tension between China and the Netherlands, claiming the restrictions are never aimed at one country specifically and the Dutch government always tries to ensure the impact is limited. In addition to chipmaking equipment, the US has restricted the export of advanced AI products from the likes of Nvidia and AMD to China due to their potential use in military applications.

March 28, 2024, 10:13 a.m.
Another Chinese company shuts shop in Pakistan after terror attack on Chinese nationals
Another Chinese company shuts shop in Pakistan after terror attack on Chinese nationals
['content', 'service', 'information', 'device', 'based']

At least five Chinese nationals, working on the Dasu hydropower project, were among the six persons killed on Tuesday when an explosives-packed vehicle rammed into their bus in Bisham district

Another Chinese company shuts shop in Pakistan after terror attack on Chinese nationals

Your profile can be used to present content that appears more relevant based on your possible interests, such as by adapting the order in which content is shown to you, so that it is even easier for you to find content that matches your interests. Content presented to you on this service can be based on your content personalisation profiles, which can reflect your activity on this or other services, possible interests and personal aspects. Information regarding which content is presented to you and how you interact with it can be used to determine whether the content e. g. reached its intended audience and matched your interests. Reports can be generated based on the combination of data sets regarding your interactions and those of other users with advertising or content to identify common characteristics. Information about your activity on this service, such as your interaction with ads or content, can be very helpful to improve products and services and to build new products and services based on user interactions, the type of audience, etc. Content presented to you on this service can be based on limited data, such as the website or app you are using, your non-precise location, your device type, or which content you are interacting with. Certain information is used to ensure the technical compatibility of the content or advertising, and to facilitate the transmission of the content or ad to your device.

March 28, 2024, 10 a.m.
Trump's Racist Obsession with Asian Cars
Trump's Racist Obsession with Asian Cars
['Chin', 'American', 'work', 'Trump', 'Vincent']

Back in 1982, a young Detroit man named Vincent Chin went out to a bar with his friends to celebrate his wedding, which was to take place the next day. Chin, who was born in China, never made it to the wedding, because he was beaten to death with a baseball b…

Trump's Racist Obsession with Asian Cars

Either Ronald Ebens, a foreman for Chrysler, or his stepson, Michael Nitz, a laid-off Chrysler worker, called Chin and his friends "Little fuckers," who were "The reason we're all laid off." Outside the bar, Chin called the white men "Chickenshit," and the two chased Chin-who they referred to as "The Chinaman"-with a baseball bat and beat him hard; he died of his injuries a few days later. Many such cases! But Vincent Chin's murder also had its roots in the racist culture of the time. Donald Trump, who first came to prominence in the 1980s, seems to be trying hard to single-handedly bring back that awful decade and the type of panicked, racist frenzy that killed Vincent Chin. Trump has been claiming-falsely-that Biden's electric vehicle policies will allow a flood of Chinese imports and put Americans out of work. Anti-Chinese rhetoric is bipartisan, and although Trump and Biden have real differences on electric vehicles, their specific policies on China have been remarkably similar. In late February, Biden announced that the Department of Commerce would "Conduct an investigation" into whether Chinese-made vehicles could be used for spying and sabotage-part of his promise to "Make sure the future of the auto industry will be made here in America with American workers." It's good to protect American workers and union jobs, but this administration always manages to frame that worthy goal in the most paranoid way possible. Violent rhetoric from politicians against specific minority groups, reinforced by real violence carried out at the grassroots, is a pattern with alarming historical precursors, whether in Nazi Germany or the antebellum American South.

March 28, 2024, 9:48 a.m.
China lifts steep Australian wine tariffs as relations improve
China lifts steep Australian wine tariffs as relations improve
['content', 'advertising', 'choices', 'manage', 'device']

Beijing imposed the tariffs in 2020 during a diplomatic feud, raising duties from zero to above 200 percent.

China lifts steep Australian wine tariffs as relations improve

We and our 814 partners store and access information on your device, such as unique IDs in cookies to process personal data. You may accept and manage your choices at any time by clicking `Manage Preferences`, including your right to object where legitimate interest is relied upon. Your choices will be signaled to our partners and will not affect your browsing. Actively scan device characteristics for identification. Personalised advertising and content, advertising and content measurement, audience research and services development.

March 28, 2024, 4:28 a.m.
China encouraged armed offensive against Myanmar government to protest proliferation of online scams
China encouraged armed offensive against Myanmar government to protest proliferation of online scams
['Myanmar', 'China', 'scam', 'Operation', 'ICG']

Report claims Beijing is most displaced by junta's failure to address slave labor scam settlements The military junta controlling Myanmar has struggled to control all of its territory thanks in part to China backing rebel forces as a way of expressing its dis…

China encouraged armed offensive against Myanmar government to protest proliferation of online scams

The military junta controlling Myanmar has struggled to control all of its territory thanks in part to China backing rebel forces as a way of expressing its displeasure about cyberscam centers operating from the country. One issue Beijing wanted the junta to address was the proliferation of scam centers in Myanmar, as they often prey on Chinese netizens. "Operation 1027 would not have been feasible without Beijing's acquiescence," argued ICG. The offensive was named for the date of its execution - October 27, 2023 - and was executed in the Shan State among Myanmar's border with China. "The reason China allowed the 2023 offensive almost certainly relates to the proliferation of online scam centers in Myanmar in recent years, and the regime's failure to crack down on them," argued the report. The estimated number of victims makes the Kokang zone a larger center for human trafficking related to online scam operators than Cambodia, which is estimated to have at least 100,000 people forcibly involved in online scams. The scam centers make fake offers of well-paid jobs and housing that instead lure victims to a labor camp, where they are forced to execute online scams. "Tackling the criminal groups running these scams, which disproportionately target people in China, has become a top political priority for Beijing in recent months," observed ICG of the period surrounding the offensive.

March 28, 2024, 4:19 a.m.
Western Wind Turbine Manufacturers Struggle to Compete with Chinese Pricing
Western Wind Turbine Manufacturers Struggle to Compete with Chinese Pricing
['better', 'price', 'profits', 'Group', 'Soros']

The US, Europe and UK again fall behind China is a supposed prority area, wind turbines.

Western Wind Turbine Manufacturers Struggle to Compete with Chinese Pricing

US manufacturing companies discovered a better path to increased profits than investing in productivity and their employees. For lack of a better word, let's call it financialization. A mining company makes more profits from betting on price movements of metals than actually selling the metals they mine. They make greater profits betting on price movements of food commodities than buying and selling food. I remember a presentation I did 15 years ago for a farmers co-op to the Soros Group looking to finance an ethanol project. The Soros Group turned up their noses at our proposal. They pointed out that purchasing derivatives on the price of unleaded gasoline and cornwas a lot more profitable and lower risk than owning a single purpose facility constructed of steel and concrete.

March 28, 2024, 3:54 a.m.
The China smartphone giant taking on Tesla
The China smartphone giant taking on Tesla
['car', 'Xiaomi', 'market', 'China', 'model']

Xiaomi's entry into the electric car market comes as a price war has been intensifying.

The China smartphone giant taking on Tesla

Chinese smartphone maker Xiaomi has launched its first electric vehicle and started taking orders. The move sees the technology giant taking on EV rivals including Tesla and BYD. The starting price in China for Tesla's Model 3 is 245,900 yuan. Xiaomi is the third-largest seller of smartphones worldwide with a market share of about 12%, according to research firm Counterpoint. The SU7, which Xiaomi has been teasing since last year, has drawn comparisons to Porsche's Taycan and Panamera sports car models. "While getting this far is itself quite an achievement, the ultimate achievement would be to demonstrate that there is a consumer market for Xiaomi as a smart EVs brand," Bill Russo of Automobility told the BBC. In an indication of the challenges facing technology firms who want to make electric cars, iPhone maker Apple last month reportedly cancelled its plans to build an EV. Mr Russo added that Xiaomi's entry into the car market reflected its confidence "In the relevancy for their brand" in China while Apple did not see enough potential in the EV market outside of China. The world's biggest car market is already crowded so Xiaomi is one of the few new prospective entrants to gain approval from authorities as officials try to curb a flood of new players. The European Union has launched an investigation into whether Chinese government subsidies have helped the country's electric car makers undercut European-made models.

March 28, 2024, 3:32 a.m.
Billionaire Lei Zhang's Hillhouse, Others Buy Stake In GDS Data Centers Outside China For $587 Million
Billionaire Lei Zhang's Hillhouse, Others Buy Stake In GDS Data Centers Outside China For $587 Million
['GDS', 'Capital', 'International', 'Holdings', 'data']

Billionaire Lei Zhang's Hillhouse Investment and other investors agreed to buy a 44% stake in GDS Holdings' data centers outside mainland China for $587 million.

Billionaire Lei Zhang's Hillhouse, Others Buy Stake In GDS Data Centers Outside China For $587 Million

Billionaire Lei Zhang's Hillhouse Investment, Boyu Capital and other investors have agreed to buy a 44% stake in GDS Holdings' data center assets outside mainland China for $587 million. Shanghai-based GDS Holdings will retain a 56% stake in Singapore-based GDS International after the transaction is completed, the company said in a statement this week. The transaction-which gives GDS International an enterprise value of $2.3 billion, including forecast debt for this year-comes as companies step up the development of data centers across Asia to meet surging demand from cloud service giants such as Amazon and Google. GDS International has 330 megawatts of data center capacity in operation or under construction, with a further 340 MW held for future development across Hong Kong, Singapore, Malaysia, and Indonesia. "This landmark capital raising is a big step forward in our strategy to obtain dedicated financing for the development of our international business on a standalone basis," William Huang, chairman and CEO of GDS Holdings and chairman of GDS International, said in a statement. MORE FOR YOU. GDS International has secured commitments and reservations from global and Chinese customers for over 200 megawatts of data center capacity, of which more than 70 megawatts are already revenue generating. The company has so far raised over $1 billion in paid up capital, including cash injected by parent GDS Holdings and the fresh capital from the series A investors.

March 28, 2024, 2:10 a.m.
China TV makers target European soccer, NFL to expand overseas
China TV makers target European soccer, NFL to expand overseas
['sport', 'year', 'Hisense']

GUANGZHOU -- Chinese TV makers like Hisense are using this year's major international sporting events as a springboard to cultivate overseas markets, aiming to boost their global share in a field dominated by Samsung Electronics. Hisense this month has been f…

China TV makers target European soccer, NFL to expand overseas

GUANGZHOU - Chinese TV makers like Hisense are using this year's major international sporting events as a springboard to cultivate overseas markets, aiming to boost their global share in a field dominated by Samsung Electronics. Hisense this month has been focusing on the world's most popular sport, soccer. The company highlighted its sponsorship of this year's UEFA European.

March 28, 2024, 1:46 a.m.
'Delete America Approach': Fmr Pentagon Official Calls Out China's Continuous Alleged Cyber Espionage Campaign
'Delete America Approach': Fmr Pentagon Official Calls Out China's Continuous Alleged Cyber Espionage Campaign
['China', 'cyber', 'Colby', 'American', 'Chinese']

Former Deputy Assistant Secretary of Defense Elbridge Colby called out Wednesday on Fox News a continual cyber espionage campaign allegedly driven by China.

'Delete America Approach': Fmr Pentagon Official Calls Out China's Continuous Alleged Cyber Espionage Campaign

Former Deputy Assistant Secretary of Defense Elbridge Colby called out Wednesday on Fox News a continual cyber espionage campaign allegedly driven by China. Colby appeared on "The Ingraham Angle" to discuss the United States and United Kingdom's recent allegations against China, accusing Beijing of over a decade-long cyber espionage campaign that allegedly targeted U.S. government institutions, critical infrastructure, media and political dissidents. Fox host Laura Ingraham asked the former Pentagon official his thoughts on the issue, to which Colby said that even after being sanctioned China is still not "Changing anything." "They are continuing the cyber espionage you pointed to. They are continuing the extraordinary military buildup. There's just a mock-up of Taiwan's presidential palace that came up on Twitter. They're water cannoning the Filipinos in the South China Sea.". "And, more to the point, I mean The Journal was reporting today that actually, the message from China is, 'Yeah, businesses can come back, but on China's terms,'" he said. "They are shifting more to what they call a 'delete America approach.' So you've got Tim Cook of Apple saying everything is fine and dandy, but the Chinese aren't giving that impression." Along with placing sanctions against the country Monday, the U.S. claimed that China's Ministry of State Security used Wuhan Xiaoruizhi Science and Technology Company, Limited as a front to allow Chinese hackers to allegedly hide various malicious cyber operations.

March 28, 2024, 1:02 a.m.
Yellen Warns She'll Confront China on Its Energy Subsidies
Yellen Warns She'll Confront China on Its Energy Subsidies
['Yellen', 'China', 'Chinese', 'subsidies', 'market']

washington —U.S. Treasury Secretary Janet Yellen said Wednesday that Chinese subsidies for clean energy industries create unfair competition that “hurts American firms and workers, as well as firms and workers around the world.” Yellen said that during a v…

Yellen Warns She'll Confront China on Its Energy Subsidies

U.S. Treasury Secretary Janet Yellen said Wednesday that Chinese subsidies for clean energy industries create unfair competition that "Hurts American firms and workers, as well as firms and workers around the world." Yellen said that during a visit she has scheduled to China, she intends to warn China its national underwriting for energy and other companies is creating oversupply and market distortion, among other problems. Yellen said she believes those subsidies will enable China to flood the markets for solar panels, electric vehicle parts and lithium-ion batteries, thus distorting production in other economies and global prices. "I will convey my belief that excess capacity poses risks not only to American workers and firms and to the global economy, but also productivity and growth in the Chinese economy, as China itself acknowledged in its National People's Congress this month," Yellen said. Yellen is set for meetings in China in April, according to Politico. On Tuesday, China filed a complaint against the U.S. at the World Trade Organization, arguing the U.S.'s requirements for electric vehicle subsidies are discriminatory. Yellen said she hopes to have a "Constructive" dialogue with Chinese officials about subsidies and oversupply issues.

March 27, 2024, 11:50 p.m.
China Wants Its Very Own NGAD 6th Generation Fighter
China Wants Its Very Own NGAD 6th Generation Fighter
['China', 'sixth-generation', 'American', 'warplane', 'system']

Summary: As the United States and China accelerate their efforts to develop sixth-generation warplanes, the dynamics of global military competition enter a new, more complex era. China's revelation of a mockup for its proposed sixth-generation fighter in 2021…

China Wants Its Very Own NGAD 6th Generation Fighter

Summary: As the United States and China accelerate their efforts to develop sixth-generation warplanes, the dynamics of global military competition enter a new, more complex era. China's revelation of a mockup for its proposed sixth-generation fighter in 2021 and the U.S.'s ambitious timeline to deploy its Next-Generation Air Dominance platform by 2030 underscore a significant leap in aerial warfare technology. At a time when everyone is still racing to build their own fleet of fifth-generation warplanes, both the United States and the People's Republic of China are already racing toward building an even more complex sixth-generation warplane. Even if the American timeline for deploying the sixth-generation warplane is accurate, and the plane beats its Chinese sixth-generation rival to the unfriendly skies by five years, the fact remains that China can still make its plane in far greater numbers than can the Americans. What's more, China would benefit from being second because it could learn from whatever mistakes the Americans made in their rush to get the plane into service earlier than China. Whatever China cannot create on its own, it will happily steal from its rivals. The problem for the Americans is that, as the nation doing the real innovation into this program, it will invariably end up spending more time and money developing a system that will simply be easily stolen by their main strategic rival in China.

March 27, 2024, 11:05 p.m.
Thailand gains access to XTransfer platform
Thailand gains access to XTransfer platform
['content', 'service', 'information', 'device', 'based']

XTransfer, a Chinese fintech unicorn, has expanded its business-to-business (B2B) cross-border trade payment platform to Thailand to capitalise on global trade conducted by small and medium-sized enterprises (SMEs).

Thailand gains access to XTransfer platform

Your profile can be used to present content that appears more relevant based on your possible interests, such as by adapting the order in which content is shown to you, so that it is even easier for you to find content that matches your interests. Content presented to you on this service can be based on your content personalisation profiles, which can reflect your activity on this or other services, possible interests and personal aspects. Information regarding which content is presented to you and how you interact with it can be used to determine whether the content e. g. reached its intended audience and matched your interests. Reports can be generated based on the combination of data sets regarding your interactions and those of other users with advertising or content to identify common characteristics. Information about your activity on this service, such as your interaction with ads or content, can be very helpful to improve products and services and to build new products and services based on user interactions, the type of audience, etc. Content presented to you on this service can be based on limited data, such as the website or app you are using, your non-precise location, your device type, or which content you are interacting with. Certain information is used to ensure the technical compatibility of the content or advertising, and to facilitate the transmission of the content or ad to your device.

March 27, 2024, 10:37 p.m.
iPhone Shipments in China Plunged 33% in February
iPhone Shipments in China Plunged 33% in February
['content', 'service', 'information', 'device', 'based']

Apple's iPhone shipments in China plunged by 33% in February when compared to the same month in 2023,according to government figures.Read More...

iPhone Shipments in China Plunged 33% in February

Your profile can be used to present content that appears more relevant based on your possible interests, such as by adapting the order in which content is shown to you, so that it is even easier for you to find content that matches your interests. Content presented to you on this service can be based on your content personalisation profiles, which can reflect your activity on this or other services, possible interests and personal aspects. Information regarding which content is presented to you and how you interact with it can be used to determine whether the content e. g. reached its intended audience and matched your interests. Reports can be generated based on the combination of data sets regarding your interactions and those of other users with advertising or content to identify common characteristics. Information about your activity on this service, such as your interaction with ads or content, can be very helpful to improve products and services and to build new products and services based on user interactions, the type of audience, etc. Content presented to you on this service can be based on limited data, such as the website or app you are using, your non-precise location, your device type, or which content you are interacting with. Certain information is used to ensure the technical compatibility of the content or advertising, and to facilitate the transmission of the content or ad to your device.

March 27, 2024, 10:27 p.m.
Earnings call: Noah Holdings reports robust growth in 2023 earnings
Earnings call: Noah Holdings reports robust growth in 2023 earnings
['year', 'product', 'RMB', 'client', 'management']

Earnings call: Noah Holdings reports robust growth in 2023 earnings

Earnings call: Noah Holdings reports robust growth in 2023 earnings

Noah Holdings Limited, a leading wealth and asset management service provider in China, announced its fourth-quarter and full-year earnings for 2023, showcasing a year of growth and strategic expansion. Net revenues grew by 1% from the previous year, with a robust operating margin of 33.3%. Company Outlook Bearish Highlights Bullish Highlights Misses Q&A Highlights. In conclusion, Noah Holdings Limited has demonstrated resilience and strategic growth in its 2023 financial year. Melo Xi: I'd like to begin today's call by sharing some recent thoughts on the industry and macroeconomic landscape before I review our performance for the fourth quarter and full year and dive into our strategy going forward. Melo Xi: Looking at our financials for the year, Noah generated total revenues of RMB 3.3 billion, an increase of 6% year-on-year. I'm very delighted to announce that based on our strong and clean balance sheet and strong liquidity position and after considering the necessary investments associated with global expansion plan, the Board has approved an annual dividend of RMB 509 million for 2023, which is equivalent to 50% of the year's non-GAAP net income attributable to Noah shareholders in accordance with the capital management and shareholder return policy announced last quarter. The Board has also approved a nonrecurring special dividend for the year of RMB 509 million in total for 2023.

March 27, 2024, 9:30 p.m.
Xi Jinping seeks to woo global CEOs, saying China's growth remains bright
Xi Jinping seeks to woo global CEOs, saying China's growth remains bright
['growth', 'told', 'New']

Semafor Signals Supported by Insights from China Trade News, Carnegie Endowment for Peace, and The New York Times The News Chinese President Xi Jinping told visiting U.S. chief executives Wednesday that growth prospects remain “bright” for the world's second-…

Xi Jinping seeks to woo global CEOs, saying China's growth remains bright

Semafor SignalsSupported byInsights from China Trade News, Carnegie Endowment for Peace, and The New York TimesThe NewsChinese President Xi Jinping told visiting U.S. chief executives Wednesday that growth prospects remain "Bright" for the world's second-largest economy, as the country seeks to woo back foreign investors. Economic growth has not yet "Peaked," Xi told a. #chinatradenews#xijinping#chubb#evangreenberg#blackstone#stephenschwarzman#cristianoamon#beijing.

March 27, 2024, 9 p.m.
Tough security law dims Hong Kong's lustre
Tough security law dims Hong Kong's lustre
['Hong', 'Kong', 'China', 'Law', 'legislation']

There was no hint of dissent in Hong Kong's Legislative Council as its 88 members passed Article 23, a piece of draconian domestic Security legislation which "complements" Beijing's own 2020 Security stamp on the Special Administrative Region.

Tough security law dims Hong Kong's lustre

There was no hint of dissent in Hong Kong's Legislative Council as its 88 members passed Article 23, a piece of draconian domestic Security legislation which "Complements" Beijing's own 2020 Security stamp on the Special Administrative Region. The once admired and vaunted Hong Kong "Brand" is now losing its lustre. When this writer was in Hong Kong just after the July 1997 handover to China, a common adage was the tale of the Golden Goose; the goose being rich and prosperous Hong Kong. Hong Kong's once booming stock market is now half its 2020 value! Equally the city faces the undertow of China's own slowing economy on which Hong Kong is economically intertwined. Hong Kong's once admirable civil rights and political freedoms are under assault from security legislation intended to safeguard the CCP's stifling monopoly on power and opinion. Hong Kong was once a government of laws; the clearly applied rule of Common Law ensured the region's security and prosperity. Today the Hong Kong Special Administrative Region is not a society ruled through the law but by the law.

March 27, 2024, 8:55 p.m.
'National Security Problem': MSNBC Host Tees Up Biden Treasury Secretary To Take Swing At Elon Musk
'National Security Problem': MSNBC Host Tees Up Biden Treasury Secretary To Take Swing At Elon Musk
['China', 'Musk', 'report', 'national', 'security']

MSNBC's Andrea Mitchell teed up Treasury Secretary Janet Yellen to comment on how billionaire Elon Musk poses a potential threat to national security.

'National Security Problem': MSNBC Host Tees Up Biden Treasury Secretary To Take Swing At Elon Musk

MSNBC's Andrea Mitchell teed up Treasury Secretary Janet Yellen on Tuesday to comment on how billionaire Elon Musk poses a potential threat to national security. "Let me finally ask you about a New York Times report, but other reporting that we have done on Elon Musk and his relationship with China," Mitchell said. "Obviously Tesla competing now against their cheaper EVs, but he is really dependent on that Chinese market, very tied in with them. He has huge defense contracts. His satellites or the satellites we rely on for so much of our communication. Is it a national security problem for - and his rockets, of course - isn't it a national security problem for our government to have so much reliance on this one entrepreneur?". "Well, look, we take national security very seriously and want to protect our national security," she said. "Our desire is not to shut down economic relations with China. We want to diversify our supply chains, but many American firms operate in China and gain from the ability to sell to China's large market." Musk met with Shanghai Chinese Communist Party Committee Secretary Chen Jining and China's foreign, commerce and industry ministers in 2023, according to Reuters. "The interests of the United States and China are intertwined like conjoined twins," China's foreign ministry quoted Musk as remarking following a meeting, according to CNN Business.

March 27, 2024, 8:37 p.m.
Extreme heat and ozone pollution: A call for targeted control strategies in China
Extreme heat and ozone pollution: A call for targeted control strategies in China
['ozone', 'China', 'Extreme', 'heat', 'pollution']

Elevated surface ozone concentrations in China are posing a significant threat to both human health and crop yields. Extreme heat can greatly exacerbate ozone pollution through both complex chemical and physical processes. For example, extreme heat is often a…

Extreme heat and ozone pollution: A call for targeted control strategies in China

Elevated surface ozone concentrations in China are posing a significant threat to both human health and crop yields. Extreme heat can greatly exacerbate ozone pollution through both complex chemical and physical processes. Extreme heat is often accompanied by stagnant weather conditions, which can lead to the accumulation and subsequent elevation of ozone. Considering that extreme heat events have been becoming increasingly frequent in recent decades and are also expected to do so in the future, effective control strategies to reduce ozone pollution risks are urgently needed. A research group led by Prof. Ke Li from Nanjing University of Information Science and Technology examined the driving factors of urban ozone pollution in China during the extremely hot summer of 2022 and the impact of emission control strategies using surface measurements and the chemical transport model GEOS-Chem. "Despite the governmental report showing a reduction in NOx and VOC emissions between 2021 and 2022, our model simulations revealed that the significant increase in chemical production was the primary driver of this widespread ozone surge," says Prof. Li. In addition, a series of scenario simulations were conducted to assess the impact of reducing NOx and VOC emissions individually and collectively on ozone levels. Citation: Extreme heat and ozone pollution: A call for targeted control strategies in China retrieved 28 March 2024 from https://phys. org/news/2024-03-extreme-ozone-pollution-strategies-china.

March 27, 2024, 7:30 p.m.
China Commercial Real Estate Market Projected to Reach USD 1.07 Trillion by 2029 with Strong Tech and Finance Sector Contributions
China Commercial Real Estate Market Projected to Reach USD 1.07 Trillion by 2029 with Strong Tech and Finance Sector Contributions
['Technology', 'Market', 'China', 'property', 'Real']

Dublin, March 27, 2024 (GLOBE NEWSWIRE) -- The "China Commercial Real Estate - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029" report has been added to ResearchAndMarkets.com's offering.The China Commercial Real Estate Marke…

China Commercial Real Estate Market Projected to Reach USD 1.07 Trillion by 2029 with Strong Tech and Finance Sector Contributions

The China Commercial Real Estate Market size in terms of transaction value is expected to grow from USD 0.89 trillion in 2024 to USD 1.07 trillion by 2029, at a CAGR of 3.49% during the forecast period. COVID-19 significantly impacted China's commercial real estate market. With a growing requirement for technology adoption, Chinese real estate companies are using a variety of innovative approaches to improve their technical skills while remaining competitive. Some prominent Chinese commercial real estate developers have partnered with internet and tech giants such as Alibaba, Tencent, JD, and Huawei to increase the adoption of property technology for efficient business operations. Chinese consumers' preferences are driving China's innovation in real estate. Regarding the number of unicorns and valuations, China's property technology market is catching up to that of the United States. About ResearchAndMarkets. comResearchAndMarkets. com is the world's leading source for international market research reports and market data.

March 27, 2024, 7:30 p.m.
Otis's Judy Marks to future CEOs: It's 'radically different than any other role you've had'
Otis's Judy Marks to future CEOs: It's 'radically different than any other role you've had'
['company', 'Murray', 'business', 'going', 'think']

COVID "was a great equalizer [of CEOs]...even though I was relatively new, even the experienced leaders hadn't been through it," says Otis CEO Judy Marks.

Otis's Judy Marks to future CEOs: It's 'radically different than any other role you've had'

On this episode of Fortune's Leadership Next podcast, Alan Murray sits down with Judy Marks, CEO of the 170-year-old elevator company, Otis, to discuss taking over the company as it was spun off from United Technologies, running an essential services business through the pandemic, and the company's mic drop growth since 2020. Murray: Judy is the CEO of [the] Otis elevator [company], which spun out of United Technologies just four years ago. We have, I think, 18 people here who have been selected by their companies as potential future CEOs. For those of you here in the audience, the CEO role is radically different than any other role you've had. I was an operator engineer by background, grew up running divisions, running parts of companies. Our company turned 170 years old last year, just so you understand the historicalmost every one of the colleagues had been their whole career had been at Otis. After the Russian invasion of Ukraine, every company that I know of started to do a rethink and said, Hey, wait a minute, where is this relationship with China going? What's happening in the Taiwan Straits? What does that mean about our business? How did you at Otis think about that? Then the call came for Otis and at that stage in my career it was, I really wanted to be a public company CEO. I didn't early on.

March 27, 2024, 7 p.m.
Chinese police kicked out of Fiji over PM being 'uncomfortable' with presence in the region
Chinese police kicked out of Fiji over PM being 'uncomfortable' with presence in the region
['Fiji', 'Zhao', 'China', 'Rabuka', 'police']

Fiji's prime minister speaks with the ABC about the relationship between China and the Pacific nation as Beijing's role in the country comes under intense scrutiny.

Chinese police kicked out of Fiji over PM being 'uncomfortable' with presence in the region

Fiji's Prime Minister Sitiveni Rabuka says his government has removed Chinese officers who were embedded in the Pacific nation's police force, even though it has decided not to tear up a contentious policing agreement with Beijing. Mr Rabuka sat down with the ABC to discuss the relationship between China and Fiji and a host of political issues at a time when the emerging great power's role in the country has come under intense scrutiny. Last week, Home Affairs Minister Pio Tikoduadua revealed that Fiji had decided to maintain a police cooperation pact with China, despite Mr Rabuka's declaration last year that he planned to scrap it. The prime minister told the ABC during a sit-down interview that while the government had decided to keep the policing MoU with China, he had ordered Chinese officers who had been based with Fiji's police force to leave the country. Fiji PM investigating claims of China spies Fiji prime minister Sitiveni Rabuka says despite the geopolitical tug-of-war in the region, "Survival" remains the key issue facing Pacific nations. "If anyone has any evidence about these allegations, this should be reported to the Fiji Police Force to investigate," he said. "In response to these allegations, both Mr Zhao and I are actively engaging with relevant authorities to ascertain the basis of these claims. We are in the process of gathering comprehensive information to provide a thorough and formal response."Furthermore, Mr Zhao has previously reached out to the Fiji Police to address concerns regarding the assertions made by the journalist in question.

March 27, 2024, 6:47 p.m.
China's president says it doesn't need ASML — tells Dutch PM it will continue with advanced technological progress regardless
China's president says it doesn't need ASML — tells Dutch PM it will continue with advanced technological progress regardless
['China', 'us', 'advanced', 'tool', 'technology']

China's President Xi Jinping still wants the Netherlands to stop following American export restrictions, but he also said that continuing to do so would not stop the nation's progress.

China's president says it doesn't need ASML — tells Dutch PM it will continue with advanced technological progress regardless

Chinese President Xi Jinping told Dutch Prime Minister Mark Rutte at a recent meeting that efforts to limit China's access to technological advancements would not deter the nation's progress. This discussion came after the Netherlands imposed export controls on advanced chipmaking tools in alignment with U.S. efforts to restrict China's access to advanced technology out of concern for national security, according to a report by the Associated Press. "The Chinese people also have the right to legitimate development, and no force can stop the pace of China's scientific and technological development and progress," Xi said. The Netherlands' decision to enforce export licensing on ASML's lithography equipment - which can be used to make logic chips using 14nm and more advanced process technology - is a big deal for China's semiconductor makers such as SMIC and YMTC. SMIC recently partnered with Huawei to produce 7nm-class smartphone processor using ASML's advanced deep ultraviolet litho tools and the two companies are reportedly working on making 5nm-class chips, using these machines. The ongoing tension between the U.S. and China over technology access have led China to accuse the U.S. of hindering its economic development. The U.S. does not want to China to have access to high-performance processors that could be used for artificial intelligence and high-performance computing applications, as powerful supercomputers could be used to develop China's military capabilities, as well as weapons of mass destruction. The People's Republic badly needs sophisticated homegrown lithography equipment to enable its chip manufacturers to fabricate chips using even relatively advanced process technologies, such as 14nm. The country is making some progress with domestic lithography tools: Shanghai Micro Electronics Equipment, China's most advanced lithography scanner manufacturer, reportedly introduced its first 28nm-capable tool last year, but it is unclear whether the company can produce such machines in volumes.

March 27, 2024, 6:45 p.m.
Xi hosts American business leaders in Beijing, calls for closer economic ties
Xi hosts American business leaders in Beijing, calls for closer economic ties
['China', 'U.S.', 'leader', 'trade', 'economy']

“Sino-U.S. relations are one of the most important bilateral relations in the world,” Xi was cited as saying by China's official Xinhua News Agency.

Xi hosts American business leaders in Beijing, calls for closer economic ties

China's nationalist leader, Xi Jinping, called for closer trade ties with the U.S. during a meeting on Wednesday with top American business leaders in Beijing that came amid a steady improvement in relations that had sunk to the lowest level in years. Xi emphasized the mutually beneficial economic ties between the world's two largest economies, despite heavy U.S. tariffs on Chinese imports and Washington's accusations of undue Communist Party influence, unfair trade barriers and theft of intellectual property. "Sino-U.S. relations are one of the most important bilateral relations in the world. Whether China and the United States cooperate or confront each other has a bearing on the well-being of the two peoples and the future and destiny of mankind," Xi was cited as saying by China's official Xinhua News Agency. China's formerly highly abrasive tone toward the U.S. has softened in recent months, particularly since Xi and Biden met in San Francisco in November. Officials such as U.S. Secretary of State Antony Blinken have visited, and Treasury Secretary Janet Yellen is reportedly due to to travel to China again to meet top leaders next month. Xi's administration has maintained a hard line on issues it considers its "Core interests." Those include its claims to virtually the entire South China Sea, the self-governing island democracy of Taiwan - a close American ally - and its heavy-handed rule of outlying regions such as Hong Kong, Tibet and Xinjiang. "The respective successes of China and the United States create opportunities for each other," Xi was quoted as saying by Xinhua.

March 27, 2024, 6:28 p.m.
Red State Lawmakers Pass Bill Banning Chinese Land Purchases Near Military Sites After DCNF Investigation
Red State Lawmakers Pass Bill Banning Chinese Land Purchases Near Military Sites After DCNF Investigation
['Kansas', 'Cnano', 'DCNF', 'Jiangsu', 'Party']

The Kansas state House of Representatives passed a bill on Wednesday preventing China from buying up land near sensitive military sites following a DCNF investigation.

Red State Lawmakers Pass Bill Banning Chinese Land Purchases Near Military Sites After DCNF Investigation

The Kansas House of Representatives passed a bill Wednesday preventing foreign adversaries from buying up land near sensitive military sites following a Daily Caller News Foundation investigation. In an 84-39 vote, the Kansas House passed SB172, which prevents firms and entities linked to China and other countries identified as foreign adversaries from owning or purchasing agricultural land within 150 miles of a military installation. The bill's passage follows on the heels of a DCNF investigation that discovered the parent company of a firm that planned to buy land in Kansas is extensively tied to the Chinese Communist Party. "The Chinese Communist Party is the greatest national security threat facing Kansas. President Xi will stop at nothing to infiltrate our supply chains and gain access to our military bases," Republican Kansas Rep. Jake LaTurner told the DCNF on Wednesday. LaTruner previously urged the Kansas Legislature to take such action, citing DCNF reporting. If it becomes law, the bill could prevent Cnano USA, a subsidiary of Chinese-based firm Cnano Jiangsu Technology Co., Ltd., from carrying out its plan to build a 333,000-square-foot manufacturing plant in Johnson County, Kansas. Following the DCNF's investigation, Kansas officials and lawmakers raised concerns about Cnano Jiangsu's presence, with Attorney General Kris Kobach seeking to block its plant construction.

March 27, 2024, 5:35 p.m.
Likelihood of hot war between U.S. and China could increase if Taiwan isn't secure
Likelihood of hot war between U.S. and China could increase if Taiwan isn't secure
['Taiwan', 'U.S.', 'Cunningham', 'Chinese', 'writes']

[Editor's note: This story originally was published by The Daily Signal.] By Samantha Aschieris The Daily Signal A special report released by The Heritage Foundation on Wednesday lays out how U.S. national security could be impacted should China take over the…

Likelihood of hot war between U.S. and China could increase if Taiwan isn't secure

ADVERTISEMENT. A special report released by The Heritage Foundation on Wednesday lays out how U.S. national security could be impacted should China take over the self-governing democratic island of Taiwan. ADVERTISEMENT. "Chinese control of Taiwan would make Japan so vulnerable that in 2021, former Prime Minister Shinzo Abe candidly declared that 'a Taiwan emergency is a Japanese emergency, and therefore an emergency for the Japan-U.S. alliance,'" writes Cunningham. "Statements like this show that the likelihood of a Japanese intervention in a Taiwan conflict is higher than any sitting government in Tokyo cares to admit publicly," Cunningham writes. In addition to U.S. national security, Cunningham also highlights the potentially devastating impact a Chinese takeover of Taiwan could have on both the global and U.S. economy. He notes later in his report that "Bloomberg Economics has estimated that a war over Taiwan would cost far more: $10 trillion, or 10 percent of global GDP.". Lastly, Cunningham presents five recommendations for Washington with the goal of keeping Taiwan secure and free from the Chinese Communist Party's control. "The main imperative of an effective U.S. Taiwan policy must be to preserve the status quo, which is that Taiwan continues to enjoy de facto sovereignty without either side of the Strait forcing a change through unification or formal independence," Cunningham writes.

March 27, 2024, 4:59 p.m.
China's Xi Jinping Meets With US Business Leaders
China's Xi Jinping Meets With US Business Leaders
['China', 'economy', 'U.S.', 'leader', 'trade']

Xi emphasized the mutually beneficial economic ties between the two, despite heavy U.S. tariffs on Chinese imports and restrictions on China's tech sector.

China's Xi Jinping Meets With US Business Leaders

China's nationalist leader, Xi Jinping, called for closer trade ties with the United States during a meeting on Wednesday with top American business leaders. Whether China and the United States have a cooperative or confrontational relationship bears on the well-being of the Chinese and American peoples and the future of humanity. Xi stressed that China had "One of the highest growth rates among the major economies" and contributed around 30 percent of world economic growth in 2023. Following the meeting, the U.S.-China Business Council said in a statement that it was honored to have a dialogue with China's top leader to "Discuss our concerns over the decline in trade, investment, and business confidence, as well as our desire to help improve engagement and commercial exchange between our two countries." China's formerly highly abrasive tone toward the United States has softened in recent months, particularly since Xi and U.S. President Joe Biden met in San Francisco in November. Officials such as U.S. Secretary of State Antony Blinken have visited China, and Treasury Secretary Janet Yellen is reportedly due to travel there again to meet top leaders next month. Xi's administration has maintained a hard line on issues it considers its "Core interests." Those include its claims to virtually the entire South China Sea, the self-governing island democracy of Taiwan - a close American ally - and its heavy-handed rule of outlying regions such as Hong Kong, Tibet and Xinjiang.

March 27, 2024, 4:57 p.m.
TikTok is under investigation by the FTC over data practices and could face a lawsuit
TikTok is under investigation by the FTC over data practices and could face a lawsuit
['TikTok', 'data', 'U.S.', 'company', 'investigation']

A person familiar with the matter says the Federal Trade Commission is investigating TikTok over its data and security practices

TikTok is under investigation by the FTC over data practices and could face a lawsuit

A person familiar with the matter says the Federal Trade Commission is investigating TikTok over its data and security practices. NEW YORK - The Federal Trade Commission is investigating TikTok over its data and security practices, a probe that could lead to a settlement or a lawsuit against the company, according to a person familiar with the matter. The investigation is the latest battle in Washington for the social media company, which is already fighting against a federal bill that could ban the platform in the U.S. if it doesn't break ties with its Beijing-based parent company, ByteDance. In its investigation, the FTC has been looking into whether TikTok violated a portion of federal law that prohibits "Unfair and deceptive" business practices by denying that individuals in China had access to U.S. user data, said the person, who is not authorized to discuss the investigation. FTC spokesperson Nicole Drayton and TikTok declined to comment on the investigation, which was first reported by Politico. The agency is nearing the conclusion of its investigation and could settle with TikTok in the coming weeks. The news comes nearly two years after Senate Intelligence Committee Chairman Mark Warner and Marco Rubio, the top Republican on the committee, urged FTC chair Lina Khan to investigate TikTok, citing a report from Buzzfeed News that said ByteDance employees in China have repeatedly accessed data on U.S. TikTok users.

March 27, 2024, 4:54 p.m.
The MrBeast-approved flying AirCar is taking off to China
The MrBeast-approved flying AirCar is taking off to China
['car', 'AirCar', 'fly', 'take', 'Jianxin']

Just like with electric vehicles, Chinese manufacturers are trying to get ahead of the curve when it comes to flying car technology. Slovakia-based KleinVision, which makes the AirCar, announced Wednesday that it had sold the Chinese rights to its surface-to-…

The MrBeast-approved flying AirCar is taking off to China

Just like with electric vehicles, Chinese manufacturers are trying to get ahead of the curve when it comes to flying car technology. Slovakia-based KleinVision, which makes the AirCar, announced Wednesday that it had sold the Chinese rights to its surface-to-air transport machine to Hebei Jianxin Flying Car Technology, which is headquartered in Cangzhou. The agreement will allow a country-exclusive license that will allow Hebei Jianxin to "Redefine transportation standards in China" by "Utilizing KleinVision's cutting-edge technology within a specific geographical region." The BBC reports that Hebei Jianxin had already built its own airport and flight school before the AirCar deal. In a September video titled "$1 vs $100,000,000 Car!" the YouTube star Jimmy "MrBeast" Donaldson demonstrated an AirCar flight between driving a Humvee-style boat car and taking a bevy of supercars around a shutdown oval track. "The wheels aren't on the ground anymore!" Jacobs said excitedly as he watched the car take off while standing on said ground. "It's literally a car that's flying," Hansen said from a plane following the AirCar in the air. "These cars are getting crazier and crazier."

March 27, 2024, 4:30 p.m.
PetroChina Aims to Power All Its Output With Clean Energy by 2033
PetroChina Aims to Power All Its Output With Clean Energy by 2033
['Energy', 'gas', 'oil', 'PetroChina', 'business']

Chinese state oil and gas giant PetroChina plans to power all its drilling and refining activities with clean power by 2033 and to install massive renewable energy capacity this year. The Chinese firm is pledging to boost renewables operations just when i…

PetroChina Aims to Power All Its Output With Clean Energy by 2033

By Charles Kennedy - Mar 27, 2024, 11:30 AM CDT. Chinese state oil and gas giant PetroChina plans to power all its drilling and refining activities with clean power by 2033 and to install massive renewable energy capacity this year. The Chinese firm is pledging to boost renewables operations just when international oil majors have started to walk back on some of their clean energy ambitions. ADVERTISEMENT. Shell, for example, reaffirmed earlier this month its ambitions to be a net-zero energy business by 2050 but eased its carbon intensity target for 2030 as it has shifted away from clean power sales to retail customers. ADVERTISEMENT. In contrast, PetroChina pledges to install as much as 30 gigawatts of renewable energy capacity this year, company executives said in an earnings press briefing on Wednesday, as carried by Bloomberg. The state energy giant's target now is that "All drilling and refining activities will be powered by clean energy" by 2033, chairman Dai Houliang said at the briefing. That's much earlier than initial plans to have green energy power all operations by 2050. Last year, Chinese natural gas and LNG demand rebounded from 2022, when the world's top LNG importer was still under COVID-related lockdowns that were weighing on household and business consumption of all energy products.

March 27, 2024, 4:15 p.m.
American Sinophobia
American Sinophobia
['Chinese', 'China', 'Huawei', 'NEW', 'risks']

As America's Sinophobia has become increasingly bipartisan, fear is starting to take on the aura of fact, and the dangers of accidental conflict with China are intensifying. Worse, by acting on these anxieties, the US risks inciting the very outcome it wants …

American Sinophobia

As America's Sinophobia has become increasingly bipartisan, fear is starting to take on the aura of fact, and the dangers of accidental conflict with China are intensifying. Worse, by acting on these anxieties, the US risks inciting the very outcome it wants to deter: Chinese aggression against Taiwan. China's national technology champion, the market leader in developing new 5G telecommunications equipment, was accused of deploying digital backdoors that could enable Chinese espionage and cyber-attacks. The US has since spiraled into a full-blown outbreak of Sinophobia - a strong word that I don't use lightly. China threats now seem to be popping up everywhere. The Department of Justice has just indicted a state-sponsored Chinese hacking group for allegedly taking aim at critical American infrastructure. Much has also been made of the purported risks of Chinese electric vehicles, construction and dock-loading cranes, and now TikTok.

March 27, 2024, 4:07 p.m.
Likelihood of Hot War Between U.S.-China Could Increase If Taiwan Isn't Secure, Report Says
Likelihood of Hot War Between U.S.-China Could Increase If Taiwan Isn't Secure, Report Says
['Taiwan', 'Cunningham', 'U.S.', 'Chinese', 'writes']

A special report released by The Heritage Foundation on Wednesday lays out how U.S. national security could be impacted should China take over the self-governing... Read More The post Likelihood of Hot War Between U.S.-China Could Increase If Taiwan Isn't Sec…

Likelihood of Hot War Between U.S.-China Could Increase If Taiwan Isn't Secure, Report Says

A special report released by The Heritage Foundation on Wednesday lays out how U.S. national security could be impacted should China take over the self-governing democratic island of Taiwan. "Chinese control of Taiwan would make Japan so vulnerable that in 2021, former Prime Minister Shinzo Abe candidly declared that 'a Taiwan emergency is a Japanese emergency, and therefore an emergency for the Japan-U.S. alliance,'" writes Cunningham. "Statements like this show that the likelihood of a Japanese intervention in a Taiwan conflict is higher than any sitting government in Tokyo cares to admit publicly," Cunningham writes. In addition to U.S. national security, Cunningham also highlights the potentially devastating impact a Chinese takeover of Taiwan could have on both the global and U.S. economy. He notes later in his report that "Bloomberg Economics has estimated that a war over Taiwan would cost far more: $10 trillion, or 10 percent of global." Lastly, Cunningham presents five recommendations for Washington with the goal of keeping Taiwan secure and free from the Chinese Communist Party's control. "The main imperative of an effective U.S. Taiwan policy must be to preserve the status quo, which is that Taiwan continues to enjoy de facto sovereignty without either side of the Strait forcing a change through unification or formal independence," Cunningham writes.

March 27, 2024, 3:58 p.m.
Chinese leader Xi issues a positive message at a meeting with US business leaders as ties improve
Chinese leader Xi issues a positive message at a meeting with US business leaders as ties improve
['China', 'U.S.', 'leader', 'trade', 'economy']

Chinese leader Xi Jinping has called for closer trade ties with the U.S. during a meeting with top American business leaders in Beijing

Chinese leader Xi issues a positive message at a meeting with US business leaders as ties improve

Chinese leader Xi Jinping has called for closer trade ties with the U.S. during a meeting with top American business leaders in Beijing. BEIJING - China's nationalist leader, Xi Jinping, called for closer trade ties with the U.S. during a meeting on Wednesday with top American business leaders in Beijing that came amid a steady improvement in relations that had sunk to the lowest level in years. Xi emphasized the mutually beneficial economic ties between the world's two largest economies, despite heavy U.S. tariffs on Chinese imports and Washington's accusations of undue Communist Party influence, unfair trade barriers and theft of intellectual property. "Sino-U.S. relations are one of the most important bilateral relations in the world. Whether China and the United States cooperate or confront each other has a bearing on the well-being of the two peoples and the future and destiny of mankind," Xi was cited as saying by China's official Xinhua News Agency. U.S. officials have renewed concerns over Chinese industrial policy practices and overcapacity, and the resulting impact on U.S. workers and companies, that they blame in part on China's massive trade surplus that amounted to more than $279 billion last year, its lowest level in about a decade. Following the meeting, the U.S.-China Business Council said in a statement that it was honored to have a dialogue with the country's top leader to "Discuss our concerns over the decline in trade, investment, and business confidence, as well as our desire to help improve engagement and commercial exchange between our two countries." Officials such as U.S. Secretary of State Antony Blinken have visited, and Treasury Secretary Janet Yellen is reportedly due to to travel to China again to meet top leaders next month.

March 27, 2024, 3:34 p.m.
Chinese Migrants Spark Concerns About US Military Base
Chinese Migrants Spark Concerns About US Military Base
['U.S.', 'Guam', 'Chinese', 'CNMI', 'visa']

A visa program allowing Chinese nationals to enter the Commonwealth of the Northern Mariana Islands could threaten security, an expert says.

Chinese Migrants Spark Concerns About US Military Base

Guam is home to two strategic U.S. bases: Naval Base Guam in Santa Rita, and Andersen Air Force Base in Yigo. Guam Customs and Quarantine said the situation in the CNMI, a separate commonwealth to the U.S. territory of Guam that shares a maritime boundary with Japan in the West Pacific, "Continues to be of concern" due to Chinese nationals purportedly circumventing or manipulating the process for legal entry. Concerns are more opaque than the those over the migrants entering the U.S. through Mexico, said CQA PR officer Alana Chargualaf-Afaisen, with threats relating to military intelligence, terrorism, communicable diseases, human trafficking, drug trafficking and illegal gambling. U.S. lawmakers previously voiced concerns that Chinese nationals were using the waiver scheme to enter Guam through the CNMI and there engaging in criminal activities. Concerns about China's role and impact on the CNMI, and in turn Guam, have been relayed by U.S. lawmakers to Department of Homeland Security Secretary Alejandro Mayorkas. A group of 32 senators and representatives, including Marco Rubio of Florida and Joni Ernst of Iowa, wrote a letter to Mayorkas on November 30, 2023, raising concerns about Chinese nationals' ability to enter Guam through the CNMI without a separate B-1 or B-2 visa. Prior to COVID-19 restrictions, Chinese tourists made up about 40 percent of visitors to the CNMI, according to August 2023 testimony provided by Palacios to the U.S. House Committee on Natural Resources.