Latest news with #XiuhaoChen
Zawya
4 days ago
- Business
- Zawya
China's vice president says China-U.S. relations at 'critical historic juncture'
China's Vice President Han Zheng met a U.S. delegation in Beijing on Thursday, state-run radio broadcaster reported. and he said China-U.S. relations were at a "critical historic juncture." "Mutual respect, peaceful coexistence and win-win cooperation" between China and the U.S. are in the interests of both countries, and are conducive to world peace and development, he said. (Reporting by Xiuhao Chen and Liz Lee)
Reuters
29-04-2025
- Climate
- Reuters
China delays return of Shenzhou-19 crewed spacecraft, Xinhua reports
BEIJING, April 29 (Reuters) - China has delayed the return of the Shenzhou-19 crewed spacecraft due to weather conditions at the landing site, the state-run Xinhua news agency reported on Tuesday. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. Reporting by Xiuhao Chen and Ryan Woo; Editing by Andrew Heavens
Yahoo
11-04-2025
- Business
- Yahoo
China's March exports likely got front-loading lift before Trump's new tariffs took effect
By Xiuhao Chen and Joe Cash BEIJING (Reuters) - China's exports likely picked up pace in March, as factories rushed out shipments ahead of U.S. President Donald Trump's sweeping tariffs this month, though the broadening trade war with the United States has darkened the economic outlook. Trade data for March is expected to show outbound shipments rose 4.4% year-on-year in value terms, according to the median forecast of 19 economists, accelerating from a 2.3 increase in the January-February period. The slump in imports is expected to have persisted, down 2.0%, after an unexpected contraction of 8.4% at the start of the year. The world's second-largest economy has gotten off to a bumpy start this year. Manufacturing activity expanded at the fastest pace in a year in March and retail sales perked up, but rising unemployment and persistent deflationary pressures continue to fuel calls for further stimulus. More worryingly and of immediate concern for Chinese policymakers is the risks to economic growth from an intensifying trade war with the United States. Trump has singled out China for additional 145% tariffs, despite having suspended the reciprocal duties he had imposed on dozens of economies he accuses of "ripping off" the U.S. by selling goods into the world's largest economy. China has imposed 84% additional duties on American goods along with other retaliatory measures since Trump's fresh April 2 burst of tariffs. Trade tensions with the U.S. could cut the shipment of goods between two economies by as much as 80%, according to a World Trade Organization estimate released on Wednesday. Goldman Sachs this week lowered its forecasts for China's 2025 GDP growth to 4% from 4.5%, citing the effects of tariffs. Citi cut its forecast to 4.2% from 4.7% two days earlier. China was not alone in stepping up efforts to out-run Trump's tariffs. German exports also rose more than expected in February, signalling world-wide fontloading, with shipments to the U.S. up 8.5% on the month in anticipation of the U.S. duties, as did shipments from South Korea. China's purchases of South Korean goods, a leading indicator of the China's imports, fell 4.1% in March, Korean data showed this month. China's March trade surplus is forecast at $77.00 billion, down from $104.8 billion in December, the most recent comparable reading, but roughly in line with the level recorded a year ago. This will likely keep the production powerhouse in Trump's sights given that bringing the trade gap down is top of his agenda. Trade data is scheduled to be released on Monday. Sign in to access your portfolio
Yahoo
21-03-2025
- Business
- Yahoo
China seeks foreign capital old and new to bolster changing economy
By Xiuhao Chen and Ryan Woo BEIJING (Reuters) - Iron ore miner Vale, a Chinese commercial partner since the 1970s, is welcome, along with other Brazilian firms, to further expand economic links with China, its commerce ministry said on Wednesday. The comments came as chief executives of foreign firms gathered in Beijing this week for a key annual corporate forum and China mounted a charm offensive to woo foreign investment. Vale has seen China turn into a global manufacturing powerhouse since receiving its first iron ore cargo in 1973, but the country's pivot to a more consumption-driven economy requires it to woo new foreign investors in emerging sectors. "China welcomes Brazilian companies, including Vale, to continue to deepen trade and investment cooperation," Vice Commerce Minister Wang Shouwen told the company's chief executive, Gustavo Pimenta, in Beijing. China was also welcoming Vale to participate in opportunities in the domestic market, the commerce ministry added in its statement on Thursday. In a "special action plan" unveiled last week to boost consumption, Beijing pledged to further open its service sector to foreign capital, encouraging ventures in areas ranging from bed and breakfast offerings to property services. "As consumption in China grows, if our household consumption relative to annual economic output is to rise to 50%, or even higher, from 40%, services consumption must play a big role," said Tang Yao, an economics professor at Peking University. "(We) should encourage foreign investment to enter the services industry," added Tang, who teaches at the university's Guanghua School of Management. As it grapples with the problems of an ageing population, Beijing also seeks investment in healthcare. A 500-bed hospital wholly owned by a Singapore company began operations late in February in the northern city of Tianjin, marking a first for China's healthcare sector. Three wholly foreign-owned hospitals have been approved, with 13 foreign-owned companies cleared to provide value-added telecom services, while over 40 foreign firms have launched biotech projects, a ministry spokesperson told reporters. Foreign companies are welcome to take a share in the dividends of China's development, a foreign ministry official told a regular news conference on Thursday. At the same time, some foreign businesses need to brace themselves for fierce competition from Chinese rivals. On a trip to the southwestern province of Yunnan on Wednesday, Chinese President Xi Jinping was asked to try some local coffee. "Yunnan coffee after all represents China, and is also popular overseas now," Xi said. He was acknowledging China's emerging coffee industry as foreign brands such as Starbucks struggle to defend their market share against domestic rivals such as Luckin that are rolling out cheaper cappuccinos and menus with a greater local flavour. (This story has been refiled to fix typos in paragraph 2) Sign in to access your portfolio
Reuters
28-02-2025
- Science
- Reuters
China's space station to welcome first foreign astronaut in next few years, Xinhua says
BEIJING, Feb 28 (Reuters) - China and Pakistan signed a cooperation agreement on the selection and training of astronauts on Friday, Xinhua reported. The agreement marks the first time China will be training astronauts for another country, the report said, adding that China's space station will welcome its first foreign astronaut in the next few years. The Technology Roundup newsletter brings the latest news and trends straight to your inbox. Sign up here. Reporting by Xiuhao Chen and Ryan Woo; Editing by Kevin Liffey
