US President-elect Donald Trump and Chinese President Xi Jinping spoke by telephone on Friday, China’s official Xinhua reportedBloomberg Terminal, a pre-inauguration conversation that could set the tone for relations between the world’s two largest economies and main geopolitical rivals. The report by the state-run news agency didn’t provide details. Trump’s transition team didn’t immediately respond…
China’s central government urged local authorities to offer handouts to people struggling with the cost of living, Xinhua News Agency reported, citing a notice from the Ministry of Civil Affairs. Municipalities with the means are encouraged to provide financial aid ahead of the New Year and the Lunar New Year festival in late January, state-owned…
Chinese President Xi Jinping said the nation faces “very arduous” reform, development and stability tasks next year, after having “smoothly” achieved economic and social targets for 2024. Xi urged officials at all levels to identify people’s most urgent needs and solve their most pressing issues, state broadcaster China Central Television reported Friday, citing a Politburo…
China abruptly ousted two military lawmakers from its national parliament without explanation, as a purge of key personnel in the upper echelons of the nation’s defense establishment shows no sign of easing. The country’s top legislative body revoked the membership of You Haitao and Li Pengcheng during a Wednesday meeting, according to a report from…
China’s first polysilicon futures debuted on Thursday, as a new hedging tool for a market that has been struggling with massive price volatility. The Guangzhou Futures Exchange is offering seven contracts for delivery starting from June of 2025. The margin requirement is 9% of the contract value. Prices will be allowed to rise or fall…
Song Gang, who oversaw the construction of Tesla Inc.’s Shanghai factory, is set to leave the automaker this week, according to people familiar with the matter. Song, who previously worked at General Motors Corp. and Ford Motor Co., joined Tesla in 2018 as the first employee of the electric car maker’s first factory outside the…
Chinese President Xi Jinping dismissed internal divisions within the ruling Communist Party as unavoidable, while calling for greater efforts to instill discipline, according to newly disclosed remarks he made at an anti-graft meeting in January. “Changes in the external environment and in the party membership will inevitably lead to various conflicts and problems within the…
The US and China renewed a longstanding agreement allowing limited government cooperation in science and technology, sustaining a lane of collaboration amid broader tensions over issues from national security to trade. US negotiators on the accord signed Friday sought to protect American interests by adding mechanisms to improve transparency and to hold China accountable for…
China’s sway over the global market is in noticeable decline. This week’s promise of bold economic support from the Chinese Politburo may have given local stocks a boost, but it barely registered elsewhere. The MSCI Asia Pacific regional benchmark was little changed in the first trading session after the announcement and stocks fell in Australia,…
China will set another record for solar power installations this year even as the industry producing the equipment suffers from falling prices and profit margins. The country will install 230 to 260 gigawatts of solar capacity this year, said Wang Bohua, chairman of the China Photovoltaic Industry Association. That will top the record of 217…