Page 138 - China

Amid sanctions, Putin pivots to eastern allies for Russian investment forum

Western sanctions have not torpedoed Russia's economy, however, and Moscow has nurtured ties with China, major regional powers in the Middle East and across Africa and Latin America

China's exports grow 7.6% in May, beat expectations amid trade tensions

China's exports for May beat analyst expectations despite trade tensions, though imports shrank, according to customs data released Friday. Exports jumped 7.6% in May from the same time last year to USD 302.35 billion. Imports however rose by 1.8% to USD 219.73 billion, missing estimates of about 4% growth. The uptick in exports is also partly due to a lower base from the same period last year, when exports declined 7.5%. In comparison, imports grew by 1.5% in April compared to the same period last year while April imports rose by 8.4%. Strong exports also saw China's trade surplus widen to USD 82.62 billion, up from April's USD 72.35 billion. China's growth in exports come as it faces escalated trade tensions with the US and Europe. The US is ramping up tariffs on China-made electric cars while Europe is considering levying similar tariffs. Factory activity in China slowed more than expected in May, according to an official survey released last week. The manufacturing purchasin

Microsoft, Nvidia, Apple now worth more combined than China's stock market

With a total market capitalization of about $9.2 trillion, the three most valuable tech firms have overtaken all of the nearly $9 trillion worth of stocks actively traded on Chinese exchanges

China protests over PM Modi's response to Taiwan President Lai's greetings

China on Thursday protested to India over Prime Minister Narendra Modi's social media statement that he looked forward to having closer ties with Taiwan, insisting that New Delhi should resist Taiwan authorities' "political calculations." China views Taiwan as a rebel province that must be reunified with the mainland, even by force. Modi's remarks came in response to a congratulatory message from Taiwan President Lai Ching-te on his election victory. Lai, elected as Taiwan's President last month, in a message posted on X said: My sincere congratulations to Prime Minister @narendramodi on his election victory. We look forward to enhancing the fast-growing #Taiwan-#India partnership, expanding our collaboration on trade, technology & other sectors to contribute to peace & prosperity in the #IndoPacific," Lai said. In his reply posted on X, Modi said: "Thank you @ChingteLai for your warm message. I look forward to closer ties as we work towards mutually beneficial economic and ...

US to sell F-16 parts worth $300 mn to Taiwan amid China threats

The Pentagon announced on Wednesday that the US Department of State had cleared two possible sales to Taiwan of F-16 parts and supporting equipment, valued at a total of USD 300 million for Taiwan.

Pak PM in Beijing for talks with Xi to seek more investments, boost ties

Visiting Pakistan Prime Minister Shehbaz Sharif has reached Beijing for talks with Chinese President Xi Jinping and other leaders to elevate all-weather bilateral ties and prospects of more aid and investments to bail out his cash-strapped country from the current economic crisis. Sharif, on a five-day official visit to China since June 4, toured the southern high-tech city of Shenzhen on Wednesday and addressed the investors meeting. During his stay here, Sharif will meet Xi, Premier Li Qiang and other leaders, Pakistan's state-run APP news agency reported. He will also attend a Pakistan-China Friendship and Business event and have meetings with the CEOs of leading Chinese companies working on the ChinaPakistan Economic Corridor (CPEC) projects. Several MoUs between the two countries on cooperation in various fields are likely to be signed, the report said. Cash-strapped Pakistan's economy is facing severe headwinds, and it has formally requested the International Monetary Fund (

Chinese AI chip firms downgrading designs to secure TSMC production

Two top Chinese AI chip firms, MetaX and Enflame, submitted downgraded designs of their chips to TSMC in late 2023 to comply with US restrictions

China may impose similar regulations for WeChat as India's UPI rules

Google Pay, PhonePe, and Paytm controls over 90 per cent of UPI transaction volume and value in India

China gives 1st approvals for public trials of advanced autonomous driving

The auto industry has defined five levels of autonomous driving, spanning driver assistance features such as cruise control at level one to fully self-driving cars at level five

Discussed moving fabs out of Taiwan, but move impossible, says TSMC

Chairman C.C. Wei said that given 80 per cent-90 per cent of its production capacity is in Taiwan, it would be impossible to move the factories

PM Sharif calls Sino-Pak relations 'unshakable' during China visit

Prime Minister Shehbaz Sharif on Tuesday emphasised that Pakistan's all-weather relationship with China was "unshakable" as he embarked on a five-day official visit to Beijing to further bolster bilateral ties and to launch the second phase of the multi-billion dollar CPEC projects in his country. Sharif will be in China from June 4 to 8 at the invitation of Chinese President Xi Jinping. The 72-year-old leader embarked on his first visit to China after he took over as prime minister for the second term after his Pakistan Muslim League-Nawaz (PML-N) party-led coalition government assumed power in March. During his visit, Sharif will hold talks with Chinese President Xi and jointly draw a blueprint for the growth of China-Pakistan relations, Chinese Foreign Ministry spokesperson Mao Ning said in Beijing last week. During Sharif's visit, the two countries are expected to launch the second phase of the USD 60 billion China-Pakistan Economic Corridor (CPEC). The CPEC, which connects Gw

All you know need to know about China's affordable housing policy

Authorities hope that over time, improving access to affordable housing could provide utility to some of the excess construction undertaken in the boom years

China sees silver lining in property sector, Japan comparisons still loom

International Monetary Fund estimates fundamental demand for housing in China to average 950 million square metres over the next 10 years

Shehbaz Sharif in China: Why Pakistan's hopes for 'CPEC 2.0' may be dashed

Pakistani Prime Minister Shehbaz Sharif's visit to China will see the formal launching of the second phase of the China-Pakistan Economic Corridor, Pakistani media had reported last month

Efforts should be recognised in Russia-Ukraine peace measures, says China

China has never "fanned fire or fuelled the flames", said Mao Ning, addressing a question on a peace summit

Beijing blames Britain of recruiting couple working for Chinese govt to spy

In a statement, China's civilian spy agency, the Ministry of State Security (MSS), said it just cracked a "major espionage case" involving MI6

EV sales in China defy consumer spending slump as price cuts attract buyers

BYD, the country's best-selling brand, sold 330,488 passenger vehicles in May, an increase of just over a quarter compared with last year

China's factory activity growth hits 2-year high, shows Caixin PMI

Production was underpinned by higher new work inflows, as stronger domestic and global demand supported client interest in new products, according to respondents

Australia orders Chinese investors to sell down stake in rare earths miner

Northern Minerals is developing the Browns Range heavy rare earths project in Western Australia, at a time when the sector has become increasingly strategic for its uses in green energy and defence

China, Russia trying to undermine peace summit on Ukraine war: Zelenskyy

Ukrainian President Volodymyr Zelenskyy was in the Philippines on Monday in a rare Asian trip to urge regional leaders to attend a Swiss-organised global peace summit on the war in Ukraine that he accuses Russia, with China's help, of trying to undermine. Zelenskyy arrived unannounced and under heavy security in Manila late Sunday after speaking over the weekend at the Shangri-La defence forum in Singapore. He had planned but failed to meet with Philippines President Ferdinand Marcos Jr on the sidelines of that annual defence gathering and decided to fly here to personally invite Marcos to attend the summit in Switzerland, two Filipino officials told AP. The officials spoke on condition of anonymity because of a lack of authority to discuss details of Zelenskyy's secretive trip to Manila. Both leaders spoke critically of China at the defence forum in Singapore, which was attended by top defence and government officials from around the world, including from Washington and Beijing. Th