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The Latest Breaking News from China

US slaps sanctions on Chinese, Mexican entities in fentanyl action

The United States on Tuesday imposed sanctions on 17 people and entities based in China and Mexico who it accused of enabling production of counterfeit fentanyl-laced pills, as the Biden administration seeks to stem imports of the deadly drug.

Reuters

Malaysia finds 100 artillery shells on Chinese barge, says it likely plundered WWII shipwrecks

Malaysia’s maritime agency says a detained Chinese barge likely plundered two World War II British shipwrecks in the South China Sea after discovering another 100 old artillery shells on it

The Independent UK

Huge British themed resort with fake Big Ben and Changing of the Guard opens in Asia

Londoner Macao in China is a resort made up of two hotels that feature British icons including Big Ben. Nelson's Column, 10 Downing Street and the Abbey Road zebra crossing

Daily Mirror

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World War II 'horror bunker' run by infamous Unit 731 discovered in China

A bunker discovered near the city of Anda in northeast China is believed to be the largest test site of Imperial Japan's infamous Unit 731, which conducted horrifying human experiments during the 1940s.

LiveScience

Covid lab leak theory should not be ruled out, top Chinese scientist says

Virologist George Gao also states for first time that China has investigated claim virus came from a laboratory

The Guardian - UK

China's armed forces and spies pose 'increasing threat' to Britain, warns top spook

The Chief of Defence Intelligence issued a warning about the 'challenges' emerging from Beijing - and how smaller nations could take advantage of cheaper technologies to arm themselves

Daily Mirror

‘Mutual respect’ call as China foreign minister meets Elon Musk in Beijing

Strained US-Chinese relations require "mutual respect", China's foreign minister has said during a meeting with Elon Musk.

The New Daily

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Markets Today: Stocks Climb on a Tentative Deal to Raise the Debt Ceiling

Morning Markets June E-Mini S&P 500 futures (ESM2 3) this morning are up +0.61% at a 9-1/2 month high, and June Nasdaq 100 E-Mini futures (NQM2 3) are up +1.46% at a 13-1/2 month high. U.S. stock index futures this morning are moderately higher after a tentative agreement was reached...

Barchart

How new EU sanctions on Iran’s Revolutionary Guards could backfire

The European Union levied new sanctions against Iran’s Revolutionary Guards last week over a brutal crackdown on protesters. But some experts question the effectiveness of sanctions, saying they risk pushing Tehran closer to other sanctioned states, namely Russia and China. Instead, they advocate the creation of a special task force…

France 24

GM's Quirky Baojun Yep Mini EV Goes On Sale For Just $11,300

The Baojun Yep has 188 miles of range on China's CLTC cycle and is available exclusively in a single-motor RWD powertrain configuration rated at 67 horsepower.

InsideEVs

Tesla's Elon Musk May Head To China This Week To Meet With Officials

According to anonymous sources familiar with the plans, the Tesla CEO will visit Giga Shanghai and also meet with senior Chinese officials.

InsideEVs

Beijing says no meeting between US, Chinese defense chiefs at Singapore gathering

Prospects for a renewed military dialogue between China and the U.S. remain dim, with Beijing saying their defense chiefs will not hold a bilateral meeting while both are attending a weekend security conference in Singapore

The Independent UK

Is Alibaba (BABA) a Good Buy?

Over the last two years, the e-commerce giant Alibaba (BABA) was hit by heavy regulatory scrutiny, brutal competition, and China’s slowing economy. But the stock got a lift this year after the nation’s Covid reopening and easing of regulatory woes. Furthermore, the company announced a restructuring plan designed to enhance…

StockNews.com

Tesla's Musk meets Chinese foreign minister, who calls for 'mutual respect' in US-China relations

China’s foreign minister has met Tesla CEO Elon Musk and said U.S.-Chinese relations require “mutual respect” while touting the promise of the country’s electric vehicle industry

The Independent UK

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Reuters

China's Xi says necessary to speed up modernization of national security system

China President Xi Jinping said it was necessary for the country to speed up the modernization of its national security system and capabilities, state media reported on Tuesday, amid a renewed focus on internal security risks and threats.

The Guardian - UK

Protesters clash with police in China over partial demolition of mosque

Unrest breaks out in Muslim town of Nagu in Yunnan as people object to removal of dome and minarets

Caixin Global

Local governments’ invisible debt could be as high as almost $10 trillion, double Japan’s GDP, posing a risk of destabilizing the banking and financial sector

The Independent UK

China expresses support for Serbia in renewed Kosovo clashes involving NATO troops

China has expressed its support for Serbia following renewed violence between ethnic Serbs and NATO troops in Kosovo

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The Hindu

China successfully launches new manned spaceship with first civilian on board

China successfully launched the Shenzhou-16 manned spaceship, sending three astronauts, including the first civilian to its space station. Read more on The Hindu

Bangkok Post

Great Wall plans $30m local battery venture

China’s Great Wall Motor is finalising plans to invest up to $30 million to set up a new battery pack assembly plant in Thailand, where it will start making a compact electric car next year, according to a company executive.

Caixin Global

Morgan Stanley Gets Nod to Open China Futures Business

The unit will be the second wholly foreign-owned company operating in a market that generated a turnover of $80 trillion last year

The Independent UK

Stock market today: Asia shares mixed as investors await debt ceiling vote, eye China economy

Asian shares are mixed in directionless trading following a U.S. holiday, as optimism about a deal on the U.S. debt was dented by worries about the regional economy

Caixin Global

Former Senior Provincial Legislator Ensnared in Graft Probe

Ex-deputy director of Northwest China’s Shaanxi province Li Jinzhu has been placed under investigation by the country’s top graft watchdog

Caixin Global

Shanghai Composite Index Rose 0.09% on Tuesday

Shenzhen Component Index closed up 0.44%

Wales Online

Covid could have leaked from a lab, says former top Chinese scientist

Wuhan is home to the Wuhan Institute of Virology (WIV), one of China’s top national laboratories known to have spent years studying coronaviruses

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