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The Latest Breaking News from China

China wants sixfold growth in VR industry in five years

HONG KONG: The Chinese government wants to expand the country's virtual reality (VR) industry output by 2026 to 350 billion yuan (US$48 billion) - six times the level last year - showing Beijing's ambitions in becoming a world leader in metaverse technology.

Bangkok Post

Exclusive-Zambia says EximBank to represent Chinese lenders in debt talks

The Export-Import Bank of China (EximBank) will lead Beijing's team to renegotiate nearly $6 billion of loans that Zambia owes to Chinese state-owned creditors, the country's finance ministry told Reuters on Thursday.

Reuters

XPeng G9 Approved For Robotaxi Testing Without Any Hardware Changes

The XPeng G9 has become the first unmodified mass-produced vehicle approved for autonomous driving testing on public roads in China.

InsideEVs

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German chancellor's China visit sparks controversy

A German member of the European Parliament says a visit by his country's chancellor to China has stirred major controversy at home amid disputes over trade, human rights and territorial claims

The Independent UK

Fisher: China’s Economy Can Weather a Global Recession — if One Even Hits

History shows Chinese growth can persist despite pockets of weakness and recession elsewhere

Caixin Global

Southern China at risk of winter drought, drop in hydropower

Southern China is expected to face a drought, which will reduce hydropower generation and mean more power output is needed from other sources to meet peak winter demand, a weather scientist said on Thursday.

Reuters

UN Rejects Russia Call for Biological Weapons Probe

The Security Council on Wednesday rejected a resolution drafted by Russia calling for an investigation into its accusations of Washington's involvement in the alleged development of biological weapons in Ukraine. Russia had officially requested last week a UN investigation into the accusations, which it has regularly made since the start…

Asharq Al-Awsat

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Michael Hiltzik: ProPublica and Vanity Fair are pushing the COVID lab-leak theory, but their exposé is a train wreck

Since its founding in 2007, the independently funded investigative organization ProPublica has exposed wrongdoing at all levels of government and shined a light on corporate misbehavior, collecting six Pulitzer Prizes in the process and securing a reputation for painstaking, accurate journalism.

Los Angeles Times

Germany's Scholz makes difficult visit to assertive China

Chancellor Olaf Scholz is making his first visit to China as German leader this week, a diplomatically delicate trip while Germany and the European Union work on their strategy toward an increasingly assertive and authoritarian Beijing

The Independent UK

Factbox-What is China's zero-COVID policy and how does it work?

Nearly three years into the pandemic, China is sticking with a strict COVID-19 containment policy that has caused mounting economic damage and widespread frustration, while keeping its borders shut for most international travel.

Reuters

Shanghai Composite Index Fell 0.19% on Thursday

Shenzhen Component Index closed down 0.34%

Caixin Global

With no word on visas, Canada's CBC closes China bureau

Canada's public broadcaster CBC says it is closing its China bureau after the Chinese government ignored requests to base a reporter in Beijing

The Independent UK

A Practical Way to Make Sense of All the Shocks Hammering the Global Economy

Brexit, the US-China trade war, Russia’s invasion of Ukraine—more such geopolitical surprises will continue the economic upheaval.

Businessweek

Germany’s Scholz heads to China amid questions over strategy

Scholz’s coalition government seems uncertain about what sort of relationship it wants with Beijing

The Guardian - UK

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Benzinga

Alibaba, Nio Fall Over 5%: Hang Seng Opens Weaker As Fed Stays Hawkish, China Asserts COVID-Zero Policy

Hong Kong shares opened in the red on Thursday, with the benchmark Hang Seng falling over 0.9% in morning trade, after the Federal Reserve’s anticipation of a higher bar for interest rates to rein in inflation

ABC News

Australian Secret Intelligence Service boss Paul Symon says Australian agencies will be busier as focus shifts to Indo-Pacific

In a wide-ranging speech to the National Security College, the director-general of the Australian Secret Intelligence Service reveals how the agency is becoming more prominent in the Five Eyes group as Beijing's actions become a key concern.

Caixin Global

Yum China Profits Rebound in Third Quarter Amid Strong Takeout Sales

The KFC and Pizza Hut franchise operator increased quarterly revenue to $2.7 billion, while ending four consecutive quarters of declining same-store sales

Reuters

Macau's MGM Cotai casino reopens after tests show clear of COVID

Macau casino MGM Cotai, operated by MGM China, reopened on Wednesday after being sealed for three days after a dealer was found to be infected with COVID and authorities quarantined more than 1,500 people inside in response.

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The Independent UK

California on track to become the fourth largest economy in the world

Golden State poised to pass Germany and sit behind only US, China and Japan

Financial Times

I spent 10 days in a secret Chinese Covid detention centre

What I learnt when I was ‘taken away’ to an island quarantine facility in the middle of the night

The Independent UK

G7 foreign ministers set to grapple with Ukraine war, China

Top diplomats from the world’s major industrialized democracies will grapple with the implications of Russia’s war in Ukraine, China’s growing economic clout and aims on Taiwan and Iran’s treatment of anti-government protesters when they open two days of talks in Germany this week

Sports Illustrated

WTA Needs Assurances on Peng Shuai Inquiry for China to Hold Finals

One year ago, Chinese tennis star publicly said a former high-ranking member of the Chinese Communist Party sexually assaulted her.

Bangkok Post

The West needs an energy alliance

The old line that "history does not repeat itself, but often rhymes", is an apt description of the evolving relationship between the West and its rivals. During the Cold War, the Soviet Union was a global superpower, owing to its military prowess. Today, Russia's armed forces appear to be in…

InsideEVs

Tesla China Closes Flagship Store In Beijing

It was the first store it ever opened in China, back in 2013, but now Tesla China is moving away from having stores in flashy, upscale locations.

Al Jazeera

Canada’s public broadcaster CBC shutting Beijing bureau

CBC says it ‘can’t get visas for journalists’ to work in China as permanent correspondents, prompting bureau closure.

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