
China tech gets second look
CATHIE Wood, the maverick behind Ark Investment Management and long-time champion of US tech innovation, reportedly has made a surprising move – into China.
Her recent US$2.7mil purchase of a Chinese tech stock is more than just a portfolio tweak; it's a signal that sentiment around China's tech sector may be turning a corner.

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The Star
27 minutes ago
- The Star
Namibia to strengthen partnership with China at economic and trade expo
WINDHOEK, June 5 (Xinhua) -- Namibia will use its participation in the upcoming China-Africa Economic and Trade Expo (CAETE) in China's Hunan Province to deepen strategic partnerships and unlock new development opportunities, the Ministry of International Relations and Trade said Thursday. "Our active participation underscores our commitment to building strategic partnerships with all our development and trading partners, that will unlock opportunities for our citizens and position Namibia as a key player in regional and continental development," the ministry said in a statement. According to the statement, Namibia will take part as one of the guest countries of honor in the 4th CAETE in Changsha, Hunan Province, from June 12 to 15. Flagging CAETE as "a premier platform for economic collaboration between China and Africa," the ministry said "the expo offers Namibian entrepreneurs and investors the opportunity to connect with Chinese business leaders, showcase Namibia's investment opportunities in sectors such as mining, tourism, agriculture and agribusiness, manufacturing renewable energy, and fisheries, as well as exploring new avenues for economic cooperation and private sector collaboration." It also said that Minister of International Relations and Trade Selma Ashipala-Musavyi will lead the country's delegation to the events. "Namibia recognizes the importance of multilateral cooperation platforms like FOCAC and CAETE in fostering sustainable development and sustained economic growth," the ministry said. The events in Changsha are also expected to enhance Namibia's engagement with Chinese investors, support economic diversification, and contribute to the country's long-term development goals.


The Star
2 hours ago
- The Star
Trump, Xi spoke by phone as trade and tech disputes strain ties
Donald Trump and Xi Jinping spoke days before the US president returns to the White House. - Photos: AFP file WASHINGTON: US President Donald Trump and Chinese President Xi Jinping spoke Thursday (June 5), according to China's Foreign Ministry, as trade tensions roil relations between the world's two largest economies. Relations between the two rivals have soured in recent weeks, with both sides accusing the other of violating a trade truce that brought down tariffs from massive highs. With the fresh conflict threatening the fragile détente, market analysts were hopeful the conversation would pave the way to a trade off-ramp. Stocks rose on news of the call, with the S&P 500 extending gains into a fourth straight day. The phone call between the leaders marks their first known formal contact since Trump took office. The last conversation between Trump and Xi took place in January before the US president's inauguration. The Chinese Foreign Ministry said the call was initiated at Trump's request. The White House did not immediately respond to a request for comment. Rare earths have emerged in recent days as a key flashpoint. The US has accused China of reneging on a promise to relax export controls on such metals needed for cutting-edge electronics. Beijing has been frustrated by fresh US restrictions on the sale of chip design software and plans to start revoking visas for Chinese students. Trump has long said direct talks with Xi were the only way to resolve differences between the nations, but the Chinese leader had thus far been reluctant to get on the phone with his American counterpart - preferring that advisers negotiate key issues. Export controls and US actions on student visas and technology curbs will likely be central to future negotiations. US and Chinese trade chiefs only agreed in Geneva last month to lower tariffs for 90 days, as they worked toward a broader deal. History suggests that any final deal could be a long time coming. In 2018 during Trump's first term as president, the two sides agreed to put their dispute "on hold' after a round of negotiations, but the US soon backed away from that deal, leading to more than 18 months of further tariffs and talks before the signing of the "Phase One' deal in January 2020. One goal for China this time around will be seeking relief from US export controls on cutting-edge chips vital for AI and military advancement. That's likely to be a sticking point in Washington, with both Democrats and Republicans in rare agreement that Beijing poses a national security threat. Beyond strains in economic ties, geopolitical frictions are also growing. Foreign Ministry officials this month protested US Defence Secretary Pete Hegseth's assertion at a gathering of military chiefs in Singapore that China poses an imminent threat to Taiwan, a self-ruled island claimed by Beijing. - Bloomberg

Barnama
2 hours ago
- Barnama
Trump Says Discussed With Xi 'Some Of Intricacies' Of US-China Trade Deal
WASHINGTON, June 5 (Bernama-Sputnik/RIA Novosti) -- US President Donald Trump said he discussed with Chinese President Xi Jinping "some of the intricacies" of the US-China trade deal during a phone call on Thursday. "I just concluded a very good phone call with President Xi, of China, discussing some of the intricacies of our recently made, and agreed to, Trade Deal. The call lasted approximately one and a half hours," Trump wrote on Truth Social, according to Sputnik/ RIA Novosti. Chinese and US teams will meet "shortly" at a location that will be determined later, the US president said, adding that the US will be represented by US Trade Representative Jamieson Greer, Treasury Secretary Scott Bessent, and Secretary of Commerce Howard Lutnick.