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The Latest Breaking News from Beijing

Alibaba Looks To Slash Workforce By 30% After Its MMC Division Decides To Lay off 20% Employees

Alibaba Group Holding Ltd (NYSE:BABA) and Tencent Holdings Ltd (OTC:TCEHY) employees saw a job cut of 30%, the Print reports as per speculation on Weibo Corp (NASDAQ:WB). Internal speculation among employees was that Alibaba looked to lay off 30% of its employees while Tencent between 10% - 30% of its employees. Tencent started layoffs within small business…

Benzinga

Trudy Rubin: The best way to stop China from aiding Russia is for the US to help Ukraine

The Biden administration hoped it could focus on China and not worry about Russia. But the war in Ukraine has proved this was a fantasy as China considers sending military and economic aid to Russia.

The Philadelphia Inquirer

China seeks to calm markets with promise of economic support

China’s leaders are trying to calm jittery investors by promising more help for its struggling real estate industry, internet companies and entrepreneurs who want to raise money abroad

The Independent UK

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‘An abomination’: Morrison signals sanctions against China if it helps arm Russia

PM says Australia ‘will move in lockstep’ with allies on sanctioning the country’s largest trading partner

The Guardian - AU

Hong Kong shares soar 9% on China pledge to support economy

Hong Kong's share benchmark, the Hang Seng index, has soared 9% after China's state media said Beijing plans more support for the slowing Chinese economy

The Independent UK

‘I’m on the frontline in Mariupol’: the Chinese reporter embedded with Russian troops

Lu Yuguang of Chinese news outlet Phoenix TV appears to have gained exclusive access to Moscow’s side of the invasion of Ukraine

The Guardian - UK

China Says It Is ‘Not a Party’ to Ukraine Crisis

Media reports emerged that Moscow has requested military and economic assistance from China for its war in Ukraine, which China denied.

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China-Russia helping hand an 'abomination'

A leading security expert warns the Sino-Russian alliance is not to be underestimated, as the prime minister labelled any cooperation an 'abomination'.

AAP

China’s goal with Putin is to resist US without economic pain

China’s support for Russia in the war in Ukraine is showing its limits as the domestic costs for Chinese President Xi Jinping start to outweigh the benefits of confronting the U.S.

Tribune News Service

Singapore: China should use enormous influence on Russia

Singapore’s top diplomat said he hopes China will use its “enormous influence” on Russia to help end its war with Ukraine, warning that Beijing’s decisions in the coming days and weeks could determine the future path of the global economy.

Bangkok Post

‘Turning point’: War in Ukraine tests shaky US-China relations

Beijing’s stance on the Russian invasion of Ukraine could define future ties with Washington, analysts say.

Al Jazeera

Russia says 'counts on China': Kremlin denies asking China for military help

How far is China willing to go to support Russia amid its war in Ukraine? Washington has warned there will be consequences if Beijing offers financial assistance or military support to Moscow. Vladimir Putin and Xi Jinping may have pledged a no limits relationship, but there is a cost to…

France 24

Why Hollysys Automation Shares Are Soaring Today

The state-owned operator of Beijing's railway and the subway weighed a takeover bid for Hollysys Automation Technologies Ltd (NASDAQ:HOLI), valuing it at $1.9 billion, Bloomberg reports. Beijing Infrastructure Investment Co looked to take Hollysys private following a deal based on its preliminary discussions. Hollysys offers integrated solutions for industrial automation and rail transport.…

Benzinga

China Yuchai Incorporates JV Subsidiary Developing Fuel Cell Powertrain Systems

China Yuchai International Limited (NYSE:CYD) subsidiary GYMCL stated that the joint venture, Beijing Yuchai Xingshunda New Energy Technology Co., Ltd., has been incorporated in the Daxing District, Beijing, China, with registered capital of RMB 10 million. Related: China Yuchai Forms JV To Develop Fuel Cell Powertrain Systems The joint venture combines the resources of…

Benzinga

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Axios

Europe's skepticism toward China grows

EU leaders view Beijing as a security concern.

Asharq Al-Awsat

How Plausible Is Chinese Military Aid for Russia?

The US says Russia has asked China to provide military assistance for its war in Ukraine, and that China has responded affirmatively.

Benzinga

Alibaba Affiliate Ant Financial Divests Entire Stake In 36KR Holdings

Jack Ma's Ant Group Co divested its entire stake in the tech news firm 36KR Holdings Inc (NASDAQ:KRKR), Bloomberg reports. The Alibaba Group Holding Ltd (NYSE:BABA) affiliate looked to comply with Chinese regulators by the move. Ant held an 18% stake in 36KR as of early 2021. Also Read: DiDi Had To Postpone Its IPO After Jack…

Benzinga

China's Fintech Specialist Sees Digital Yuan Challenging US Dollar

Richard Turrin sees China's nascent digital yuan challenging the U.S. dollar's dominance of international trade settlements in the next decade, CNBC reports. Turin admitted that the world's second-largest economy was currently ahead in all financial technology by a decade while the U.S. would take "easily another five years" to get out…

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The Independent UK

China says it's 'impartial' on Ukraine, denies aiding Russia

China says its stance on the conflict in Ukraine is “completely objective" and “impartial” and is repeating its accusations that the U.S. is spreading misinformation with reports that Beijing has responded positively to a Russian request for military supplies

The Independent UK

EXPLAINER: How plausible is Chinese military aid for Russia?

The U.S. says Russia has asked China to provide military equipment to assist with its war in Ukraine and that China has responded affirmatively

Al Jazeera

China says it does not want to be impacted by Russia sanctions

Foreign minister says Beijing is ‘not party’ to Russia-Ukraine war as pressure grows on it to withdraw Moscow support.

Caixin Global

Beijing Suspends After-School Classes After Two Students Test Positive

The primary school pupils had visited training centers, as the Chinese capital confirmed five new Covid-19 cases

The Guardian - AU

Tuesday briefing: Kyiv explosions as ceasefire talks to resume

Americans hold ‘intense’ meeting with Beijing delegation in Rome … UK Covid travel curbs to end … and how not to doomscroll

Los Angeles Times

Escalating war in Ukraine raises the stakes for China’s balancing act with Russia

TAIPEI, Taiwan — Chinese leader Xi Jinping and Russian President Vladimir Putin have forged a relationship they say has “no limits.” But the grinding war in Ukraine is increasing pressure on China to disavow Putin’s aggression or face international condemnation that could upend its own strategies in challenging the U.S.…

The Guardian - US

China has already decided to send economic aid to Russia in Ukraine conflict, US officials fear

Jake Sullivan’s Rome meeting with Chinese counterpart left US officials pessimistic about steering Beijing away from backing Moscow

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