Page 148 - China

US House votes for possible TikTok ban, but will the app go away soon

The House passed legislation on Saturday that would ban TikTok in the United States if the popular social media platform's China-based owner doesn't sell its stake within a year, but don't expect the app to go away anytime soon. The decision by House Republicans to include TikTok as part of a larger foreign aid package, a priority for President Joe Biden with broad congressional support for Ukraine and Israel, fast-tracked the ban after an earlier version had stalled in the Senate. A standalone bill with a six-month selling deadline passed the House in March by an overwhelming bipartisan vote as both Democrats and Republicans voiced national security concerns about the app's owner, the Chinese technology firm ByteDance Ltd. The modified measure now goes to the Senate after negotiations that produced a compromise. Even if the legislation becomes law, though, the company would have up to a year to find a buyer and would likely try to challenge the law in court, arguing it would depriv

'Ready to cooperate': G7 foreign ministers advocate free, open Indo-Pacific

The foreign ministers of the G7 have reiterated their commitment to a free and open Indo-Pacific region and emphasised that a growing China that plays by international rules would be of global interest. Terming China a key interlocutor in addressing global challenges, and that the G7 stands ready to cooperate with Beijing on areas of common interest, a G7 Foreign Ministers' Meeting Communique on Friday said, Our policy approaches are not designed to harm China, nor do we seek to thwart China's economic progress and development. However, we are concerned that China's nonmarket policies and practices are leading to harmful overcapacity that undermines our workers, industries, and economic resilience. A growing China that plays by international rules would be of global interest, the G7 Foreign Ministers of Canada, France, Germany, Italy, Japan, the UK and the US, and the High Representative of the European Union said on the final day of the Ministerial meeting on Foreign Affairs that wa

Major powers should avoid rivalry in South Pacific: China's Wang Yi

Wang made the comments at a joint press conference with his Papua New Guinea counterpart during a visit to country

Apple removes WhatsApp, Threads from its China App Store on Beijing request

US politicians have cited national security concerns in their push to force the company to either sell TikTok to a non-Chinese owner or face a ban in the US market

L'Oreal Q1 sales beats expectations, grows 9.4% on strong market demand

The French cosmetics giant, which owns the Maybelline and Lancome brands, reported sales of 11.24 billion euros ($11.98 billion) for the first three months to the end of March

Tesla plant likely in India: A look at its gigafactories in other countries

Tesla has six Gigafactories in Fremont, California; Sparks, Nevada; Berlin, Germany; Shanghai, China; Austin, Texas; and Buffalo, New York

China and Indonesia ministers call for immediate, lasting ceasefire in Gaza

The Chinese and Indonesian foreign ministers called for an immediate and lasting cease-fire in Gaza after a meeting in Jakarta on Thursday, condemning the humanitarian costs of the ongoing war that has killed tens of thousands of Palestinians. Indonesia's Minister of Foreign Affairs Retno Marsudi told reporters that the two countries share the same view about the importance of a cease-fire and of resolving the Palestinian problem through a two-state solution. I am sure that China would use its influence to prevent escalation, Marsudi said, adding that China and Indonesia "would also fully support Palestine's membership in the UN. The meeting took place on the second day of a six-day tour during which Chinese Foreign Minister Wang Yi will also visit Papua New Guinea and Cambodia. Wang blamed the United States for holding up ceasefire resolutions at the UN. The conflict in Gaza has lasted for half a year and caused a rare humanitarian tragedy in the 21st century. The United Nations

Foreign investors retreating from emerging markets in Asia, shows data

Overseas investors have sold nearly $2.2 billion worth of equities in the region's emerging markets in April, on a net basis, according to data compiled by Bloomberg that excludes China

China kicks off anti-graft inspections of financial regulators, banks

China's biggest state-owned lenders, led by Industrial & Commercial Bank of China Ltd., as well as the main bourses in Shanghai and Shenzhen will also be inspected, according to the report

Biden to call for higher Chinese metals tariffs in 'Steel City' Pittsburgh

The Biden administration is also pressuring neighboring Mexico to prohibit China from selling its metal products to the United States indirectly from there

US, China public debt to nearly double by 2053 under current policies: IMF

The report projected overall primary deficits would decline to 4.9% of global GDP from 5.5% in 2023, but with substantial risks threatening public finances in many countries

Morgan Stanley plans biggest round of job cuts in Asia Pacific in years

The final size and timing of the cuts may change, the people said. A media representative for the New York-based bank declined to comment.

India's population estimated at 1.4 bn, 24% in 0-14 age bracket: UNFPA

India's population is estimated to have reached 144 crore, with 24 per cent in the 0-14 age bracket, according to a recent report by the UNFPA. The United Nations Population Fund's (UNFPA) State of World Population - 2024 report -- "Interwoven Lives, Threads of Hope: Ending Inequalities in Sexual and Reproductive Health and Rights" -- revealed that India's population is estimated to double in 77 years. India leads globally with an estimated population of 144.17 crore, followed by China at 142.5 crore, according to the report. India's population was recorded at 121 crore during the last census, conducted in 2011. The report further detailed that an estimated 24 per cent of India's population is aged 0-14 while 17 per cent is within the 10-19 age range. The segment aged 10-24 is estimated to constitute 26 per cent, with the 15-64 age group making up 68 per cent. Additionally, 7 per cent of India's population is aged 65 years and above, with men having a life expectancy of 71 years a

Russian invasion of Ukraine threatens global security: Olaf Scholz in China

German Chancellor Olaf Scholz told Chinese leader Xi Jinping who hosted him in Beijing on Tuesday that Russia's full-scale invasion of Ukraine threatens global security, in an apparent call for China to apply greater pressure on its neighbor and close strategic partner to resolve the conflict. Scholz also told Xi at their meeting that the use of nuclear weapons in the 2-year-old war should not even be threatened, German media reported. Russian President Vladimir Putin warned last month that Russia is ready to use nuclear weapons if its sovereignty or independence is threatened, his latest such threat since invading Ukraine. Scholz told Xi that Germany's core interests were impacted by the war against Ukraine, which has threatened to spread into a regional conflict and has disrupted energy and global food supplies and other trade. Russia's actions "violate a principle of the United Nations Charter and the principle of the inviolability of national borders, Scholz was quoted as saying

China's Q1 GDP grows 5.3% amid continued crisis in property sector

China's economy grew at 5.3 per cent in the first quarter, making a stronger-than-expected start to the year even as the downturn of its property market continued while the domestic demand remained subdued. The GDP grew 5.3 per cent year on year to 29.63 trillion yuan (about USD 4.17 trillion) in the first three months of 2024, data from the National Bureau of Statistics (NBS) showed on Tuesday. The pace accelerated from 5.2 per cent overall GDP growth for 2023, appearing on course to meet the target set by the government at around five per cent. On a quarterly basis, the economy expanded by 1.6 per cent in the first three months of this year, according to the NBS. "China's high-quality development has made new achievements in the first quarter. The national economy has sustained recovery momentum and got off to a good start," Sheng Laiyun, Deputy Head of the NBS, said at a press conference. Sheng mentioned positive factors during this period, such as rising production demand, sta

Tesla layoffs: Global job cuts to impact leading markets US, China

Tesla faces increasing competition in China in a fierce price war with rivals led by BYD, slowing sales in the United States, as well high investment costs in new models and artificial intelligence

Needed sanction procured to prosecute NewsClick founder under UAPA: Police

The Special Cell of Delhi Police had arrested Chakravarty and Purkayastha on October 3 last year. They are currently in judicial custody

China's air passenger traffic hits fresh record on New Year boost

Total air passenger traffic reached almost 180 million trips in the first three months of 2024, state broadcaster CCTV said Tuesday, citing data from the Civil Aviation Administration of China

Not happy? Do not come to work: Chinese firm introduces 'unhappy leave'

A company in China has recently introduced ten days of 'unhappy leave' for its employees to promote work-life balance

China's Q1 GDP grows faster than expected on back of policy support: Data

On a quarter-by-quarter basis, GDP grew 1.6 per cent in the first quarter, above the forecast for growth of 1.4 per cent