Page 2 - China

China's exports surge 27% in June as AI boom drives strong demand

China's exports accelerated in June, jumping 27 per cent from a year earlier, its customs agency said Tuesday, driven by strong demand due to the boom in artificial intelligence. The increase in exports in June was much better than economists had expected. Exports rose 19.4 per cent year-on-year in May. Imports in June surged 36 per cent, stronger than May's 27.4 per cent year-on-year growth. China's exports of vehicles, especially EVs, and other tech-related products have boomed as rapid expansion of use of AI increases demand for semiconductors and other electronic equipment. The strength in export manufacturing has helped to offset weakness in domestic demand.

China's private space firms eye IPOs to challenge SpaceX's launch dominance

A wave of Chinese rocket companies is queuing up for public listings in Shanghai and Hong Kong, betting on reusable-rocket breakthroughs to break SpaceX's grip on the global launch market

US, UK, 12 others reject China's South China Sea claims, back 2016 ruling

The United States, United Kingdom and a dozen other Western and Asian countries reasserted on Sunday that China's expansive claims in the South China Sea are illegal based on a 2016 arbitration ruling. A joint statement issued by the nations said they rejected "destabilising" actions in the disputed waters that threaten regional peace. The announcement commemorated a July 12, 2016, arbitration ruling by a tribunal established in The Hague under the United Nations Convention on the Law of the Sea, saying the landmark decision is "a significant milestone and is final, legally binding and definitive." China refused to join the arbitration initiated by the Philippines in 2013 after a tense standoff in the contested waters a year earlier that ended with Beijing effectively seizing a disputed shoal. Beijing rejected the 2016 ruling and continues to defend its claims to virtually the entire sea passage, a key global trade route that has long been feared as one of Asia' most active ...

Typhoon Bavi lashes eastern China after landfall, threatens heavy rainfall

Nearly two million people were evacuated as Typhoon Bavi struck eastern China, bringing torrential rain, violent winds, flooding and widespread transport disruptions

Typhoon Bavi makes landfall in eastern China after nearly 2 mn evacuated

Chinese authorities evacuated more than 1 million people on Saturday and issued high alerts as eastern China braced for Typhoon Bavi, which has brought strong winds and rain to Japan's southern islands and Taiwan. Earlier, at least 17 people were killed in the southern Philippines, mostly due to landslides that were set off by seasonal monsoon rains that Bavi intensified before the typhoon blew away toward Taiwan, Philippine officials said Saturday. With maximum sustained winds of 144 kph (89 mph) near its center, Bavi is passing north of Taiwan on Saturday, according to Taiwan's Central Weather Administration. It is expected to move toward Zhejiang in eastern China and, according to China's National Meteorological Center, make landfall before midnight or in the early hours of Sunday and then move inland. China evacuates over 1.7 million people ------------------------------------------- Authorities in the Zhejiang province have evacuated more than 1.7 million people as of Saturda

Shein wins Chinese regulatory approval to proceed with Hong Kong IPO

Shein has secured approval from China's securities regulator for its planned Hong Kong IPO after earlier listing attempts in the US and London failed

China successfully launches, retrieves reusable rocket booster at sea

The Long March 10B's first stage made a vertical landing on an offshore platform, making China the second country after the US to achieve the feat

Flooding from heavy rain leaves 39 dead in China as Typhoon Bavi approaches

Authorities in southern China said Thursday that 39 people died in flooding after a tropical storm dumped heavy rainfall, as the country's east coast and Taiwan prepared for a typhoon expected to make landfall in the coming days. Most of the deaths were in Hengzhou, where the partial collapse of a reservoir dam sent torrents of water into the city and claimed 26 lives, said Ding Wei, the vice mayor of Nanning city, which has jurisdiction over the area. Nine people remained missing in the broader Guangxi region. Tropical Storm Maysak brought record rainfall to Guangxi starting Saturday, breaching reservoirs and stranding people for days in homes and other buildings. The previously announced death toll on Tuesday was six people. A second storm, Typhoon Bavi, was at sea on a northwest track that would take it over some remote Japanese islands and then just north of Taiwan before making landfall in China's Fujian or Zhejiang province on Saturday. Fishing boats could be seen tightly pack

China lifts July fuel export curbs, lets private refiner resume shipments

Only state-owned companies were ​permitted to export gasoline, diesel and jet fuel in the past few months while it remains unclear if the lifting of export curbs will ‌continue in August

Beijing weighs curbs on overseas access to China's advanced AI models

Companies that attended the meetings included Alibaba, ByteDance and startup Z.ai, the sources said. They were not authorised to speak to the media and requested anonymity

Donald Trump says Greenland should be controlled by the US, not Denmark

Trump renewed calls for US control of Greenland, reviving tensions with Denmark and raising fresh questions over Arctic security and NATO relations

At least 11 killed, 331 injured in weather-related incidents across China

At least 11 people were killed and 331 others injured in weather-related incidents across China, authorities said on Tuesday. Chinese President Xi Jinping on Tuesday called for all-out efforts to organise flood emergency rescue, disaster relief and treatment of the injured, state-run Xinhua news agency reported. Tornadoes, thunderstorms and high-velocity gales hit the eastern part of Hubei Province on Monday night, killing 11 people with one reported missing, according to provincial emergency management authorities. The severe weather also injured at least 331 people across three communities. Over 400 residents have been evacuated to safe places. The severe weather destroyed 22 buildings and damaged another 4,855, according to the report. Separately, a landslide struck a township in Tanchang County, Longnan City, in northwest China's Gansu Province early on Tuesday. A total of 33 people are believed to be buried, with 17 rescued so far. All-out search-and-rescue operations are ...

China's booming gig economy masks job market pain, strains welfare system

An estimated 320 million Chinese are expected to be in flexible employment this year as a weak labour market, AI adoption and a property downturn push more workers into gig jobs

Easing norms for Chinese companies may impact transmission sector margins

Even after matching CEA targets with current capacity and factoring in demand from data centres, automobiles and railways, demand will still far exceed supply

China test-launches ballistic missile from submarine in South Pacific

China's military test-launched a long-range ballistic missile Monday from one of its nuclear-powered submarines in the South Pacific. The missile was launched at 12:01 p.m. and carried a dummy warhead, according to an announcement by the official Xinhua News Agency. The New Zealand government said it was informed of the planned launch hours beforehand. "It appears that despite our long-standing concerns about this type of activity, China carried out the test within hours of informing us," Foreign Minister Winston Peters told The Associated Press in a statement.

Vietnam fast-tracks $4 billion Hon Khoai port to check China's naval power

Vietnam is accelerating work on a dual-use seaport and transport corridor to strengthen trade links and bolster its strategic presence after Cambodia launched a China-backed canal project

ByteDance, Alibaba pull AI companion features as China tightens rules

The sudden retreat comes ahead of new Beijing regulations taking effect in mid-July to tighten oversight on humanlike AI services

Magnitude 4.1 earthquake strikes near China-Myanmar border: NCS

As per the NCS, the shallow earthquake occurred at a depth of 10 kilometres in the afternoon

China appoints two new generals after anti-corruption purge thins ranks

China's military has named two new generals in what may be a precursor to a reorganisation at the top following the removal of several of its leaders in a long-running anti-corruption drive. The shake-up is believed to be in part an effort to ensure the military's loyalty to China's ruling Communist Party and its leader, Xi Jinping. Xi, who is also head of the military, presented orders promoting Zhang Shuguang and air force commander Wang Gang to generals at a ceremony Friday. Zhang was also named the head of the division investigating corruption at the Central Military Commission, the military's top body. The promotions could put them in line to fill vacancies on the seven-member commission, which has been reduced to two by the corruption investigations. The commission is chaired by Xi. Its only other current member is Vice Chair Zhang Shengmin. Two former vice chairs, including the military's top general, have been removed. A new commission is expected to be announced in the f