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The Latest Breaking News from China

China envoy says Australia fired first shot with Huawei ban

China's ambassador to Australia says the then-Australian government fired the “first shot” in its deteriorating relations with China four years ago when it banned Chinese-owned telecommunications giant Huawei from rolling out the country’s 5G network due to security concerns

The Independent UK

Weekly Must-Read: Why Relocating Mainlanders See Singapore as a Safe Haven for Their Businesses and Property

Chinese entrepreneurs, professionals and their families are moving to the Southeast Asian country in droves

Caixin Global

Macau locks down some buildings as COVID infections creep up

Authorities in Macau have locked down several residential buildings as the world's biggest gambling hub tries to contain a rising number of COVID-19 cases that have ground the city to a halt, apart from casinos which mostly remain open.

Reuters

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Chinese ambassador Xiao Qian interrupted by multiple protesters during speech at UTS

The ambassador, appointed earlier this year, was asked about the fate of detained Australians and the reasons for Beijing's diplomatic deep freeze.

ABC News

Hong Kongers reflect on Taiwan, an imperfect exile

Coming to Taiwan was a logical step for Lam Wing-kee, a Hong Kong bookstore owner who was held by police in China for five months for selling sensitive books about the Communist Party

The Independent UK

Duterte ends China oil talks, leaving any restart to Marcos

Outgoing Philippine President Rodrigo Duterte has ended talks with China on oil exploration in the disputed South China Sea, his top envoy said, posing a challenge for incoming leader Ferdinand Marcos Jr if he wishes to restart discussions.

Bangkok Post

United States and China set to be excluded from Pacific Islands Forum meeting to avoid 'distraction'

The decision by the Pacific's peak diplomatic body to exclude major international powers from a crucial meeting next month will give leaders the opportunity to discuss regional issues without outside pressure.

ABC News

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BMW Starts Up New China Plant To Take On Tesla, Nio In World's Biggest EV Market

German automaker BMW (OTC: BMWYY) has started production at a new $2.24 billion electric vehicle plant in Shenyang, China, as it looks to take on Tesla Inc (NASDAQ: TSLA) an

Benzinga

Taiwan donates $1 million for Afghan quake relief efforts

Taiwan will donate $1 million to Afghan earthquake relief efforts in response to a call from the United Nations and others for humanitarian assistance, the government said late on Thursday.

Reuters

‘Considerable strain’: how Australian officials saw the China rift

Officials kept in ‘regular contact’ with Chinese embassy even as Morrison government ministers frozen out, FoI documents shows

The Guardian - AU

More U.S. cabinet-level officials to visit the Pacific island region

White House Indo-Pacific coordinator Kurt Campbell said on Thursday he expects to see more U.S. cabinet-level officials visiting Pacific island countries as the United States steps up its engagement in the region to counter China.

Reuters

Exporters urged to adopt regional focus

Thai exporters are advised to shift their focus to regional markets such as Asean, China, the Middle East and India instead of the world market in the second half this year.

Bangkok Post

How the US could lose the new cold war

The United States appears to have entered a new cold war with both China and Russia. And US leaders' portrayal of the confrontation as one between democracy and authoritarianism fails the smell test, especially at a time when the same leaders are actively courting a systematic human-rights abuser like Saudi…

Bangkok Post

Musk Says Berlin and Austin Plants Are "Gigantic Money Furnaces"

Tesla CEO says it will take more effort to bring the Austin and Berlin plants to high-volume production than it took to build them in the first place.

InsideEVs

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Reuters

White House: NATO's new strategic concept reflects concerns about China

The White House said on Thursday that the NATO alliance's new strategic concept reflects concerns about China, including its economic practices.

The Conversation

Friday essay: if growing US-China rivalry leads to 'the worst war ever', what should Australia do?

Should Australia join the United States in a war against China to prevent China taking the US’s place as the dominant power in East Asia? Until a few years ago the question would have seemed merely hypothetical, but not anymore.

Caixin Global

Retail Investors’ Share of Chinese Stock Markets Falls Below 70%

Institutions play an expanding role in trading, and individuals grow more sophisticated, a top market regulator says

Al Jazeera

‘Cold War mentality’: China’s Xi denounces ‘abuse of sanctions’

At BRICS meeting, Chinese leader says world must move away from US-led hegemony and towards harmonious future.

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The Hindu

Plea in Delhi High Court to change call sign VT on Indian aircraft

While countries such as China, Pakistan, Nepal, and Sri Lanka changed their call signs after Independence, the prefix VT (‘Victorian Territory’ or ‘Viceroy Territory’) has remained on Indian aircraft even after 93 years, the petitioner said.

The Hindu

At BRICS summit, Putin and Xi take aim at West for sanctions and post-Ukraine economic crisis

PM Modi attends the meet, first of its kind since invasion of Ukraine, says BRICS countries share common views on economic governance, calls for post-pandemic cooperation

The Hindu

Pakistan’s economic muddling and the IMF challenge

The falling rupee, depleting foreign exchange reserves, energy shortage, increasing fuel prices and a complicated external support highlight the contemporary economic crisis Pakistan is in. Will Islamabad find a way out?

Benzinga

ClouDr Suffers Chronic Losses but Still Set for High-Value Health IPO

Key Takeaways: ClouDr’s big investments in marketing and R&D have turned rapidly growing revenues into mounting losses Although far from profitable, the company has been popular with investors, pricing at 14.6 billion yuan after the final round of financing and seeing its valuation rise to 15.4 billion yuan in the…

Benzinga

Energy Monster Expands Its Reach, But Gets Bitten by Covid

Key Takeaways: • Leading power bank provider Smart Share Global’s revenue fell 13% in the first quarter as it suffered from pandemic lockdowns • Company hopes to improve performance with more efficient new power bank cabinet set to launch by the end of this year

Benzinga

Methode Electronics Clocks 4% Revenue Decline In Q4 Due To Lower Sales Volumes In Auto Segment

Methode Electronics, Inc (NYSE:MEI) reported a fourth-quarter FY22 net sales decline of 4.1% year-on-year to $288.7 million, missing the consensus of $289.5 million. The decrease was due to lower sales volumes in the Automotive segment due to supply chain constraints and the conflict in Ukraine. EPS of $0.43 missed the consensus of $0.56.…

Benzinga

US LNG Exports To China Plummet By 95%: What You Need To Know

U.S. exports of liquefied natural gas (LNG) to China between February and April is down by 95% from the same period one year earlier, according to a Wall Street Journal analysis of Chinese government data.

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