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The Latest Breaking News from China

China attack on Taiwan would hit global trade more than Ukraine war, says Taiwan

Any Chinese military attack on Taiwan would have a greater impact on global trade flows than the Ukraine war, Taipei's top trade negotiator told Reuters on Tuesday, saying it would lead to a shortage of semiconductor chips.

Reuters

2 Beaten Down Chinese Stocks Defying the Bear Market

The concerns over persistently high inflation, fresh COVID-19 cases in China leading to hard lockdowns, deepening supply chain disruptions, and a potential slowdown in global economic growth have added immense pressure to Chinese stocks of late. Amid the inflationary environment, it could be wise to invest in fundamentally solid beaten-down…

StockNews.com

Labor campaign director says Australia chose a ‘better future’ over more Scott Morrison

Paul Erickson to tell press club of election-winning strategy including Anthony Albanese’s leadership and stoking ‘mood for change’

The Guardian - AU

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U.S. Trade Rep. Katherine Tai says her Asian American identity helps "filter out the noise" in China negotiations

Tai, a Chinese American, leads the U.S.'s trade policy amid mounting U.S.-China tensions and spikes in anti-Asian hate.

Axios

UK buys option to take 20% stake in Sizewell C nuclear power plant

£100m move could ease China’s state nuclear company out of project

The Guardian - UK

How autocrats twist history to gain power

Leaders in China, North Korea and Russia tell history selectively or rewrite parts to suit their changing political needs.

Axios

ReneSola Encounters Headwinds but Looks Better Positioned Than Most

Key Takeaways: ReneSola has encountered recent headwinds due to Covid-related lockdowns in China and withdrawal from a major U.S. project Company looks better positioned than peers from other industries due to accelerating focus on renewable power construction in the west By Doug Young

Benzinga

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India must insist on return to status quo on border in talks with China, says Shyam Saran

Former National Security Advisory Board Chairman says multiple rounds of talks prove Chinese encroachment occurred in 2020, regardless of govt. statements

The Hindu

Fears Kim Jong-un will launch nuclear weapon as he vows to bolster deadly arsenal

Kim Jong-un's pariah state of North Korea has finished preparations for its first nuclear test launch since 2017, according to South Korea's Foreign Minister Park Jin

Daily Mirror

China lifts two-year COVID visa ban on Indians; to allow return of stranded professionals, families

China is also processing requests of thousands of Indian students studying in Chinese universities

The Hindu

Alibaba, Other Chinese Stocks Brace For Uncertainty As US Looks To Monitor, Restrict Investment In China

Congress pushed a ruling proposing screening investments in rival countries like China to protect U.S. technologies and rebuild critical supply chains, the Wall Street Journal reports. The action would require American companies and investors to disclose new outbound investments with a new interagency panel to review and block investments on national…

Benzinga

Bloomberg staffer detained in China was released earlier this year

A Bloomberg News staff member in China who was detained in late 2020 was released on bail early this year, according to a statement by the Chinese embassy in Washington that was dated last month and reported by the news organisation on Tuesday.

Reuters

Morning Brief: Top Financial Stories Dominating on Tuesday, June 14

CNBC

Benzinga

China bank protest stopped by health codes turning red, depositors say

A protest planned by hundreds of bank depositors in central China seeking access to their frozen funds has been thwarted because the authorities have turned their health code apps red, several depositors told Reuters.

Reuters

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Caixin Global

Shanghai Tries New Tactics to Stamp Out Crypto Mining

Companies running data centers are required to conduct self-checks and pledge not to engage in the power-hungry activity

ABC News

Xi Jinping announces plans to allow Chinese military to undertake 'armed forces operations' abroad

According to China's government, Xi Jinping has signed off on a set of new trial outlines that allow for Chinese "armed forces operations" that aren't war, and set a legal basis for the PLA to "safeguard China's national sovereignty, security and development interests".

Chicago Tribune

Commentary: Washington already fought a cold war with Beijing. It was a disaster

Since the Russian invasion of Ukraine began in February, a debate within the U.S. foreign policy community has reignited over how far Washington would go to defend Taiwan if China launched a similar assault on the island. These questions acquired a new level of urgency last month when President Joe…

Benzinga

Warren Buffett-Backed EV Maker Ranked Amongst Top 3 Automakers in China Beating Tesla, Nio, Xpeng

Warren Buffett's Berkshire Hathaway (NYSE: BRK-B) -backed Chinese EV maker BYD Co, Ltd's (OTC: BYDDY) sales more than doubled in May, making it one of the top three automakers in China,

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Caixin Global

China’s Box Office Rebounds as Cinemas Reopen to Rampaging Dinosaurs

Blockbuster premier of Universal’s ‘Jurassic World Dominion’ pushes weekly takings to three-month high

The Times of India

China’s ‘iPhone city’ may be using Covid controls to prevent investors from protesting

A manufacturing hub in central China is allegedly abusing its Covid control measures to prevent investors who say they have been swindled out of billions of dollars in a suspected financial scam from returning to the city to protest.

Axios

Scoop: Biden leans toward easing some of Trump's China tariffs

The president met with key Cabinet members last Tuesday

Bangkok Post

AirAsia turns to India to fill gap left by absent China tourists

With the major tourism market of China still mostly sealed off from the rest of the world, AirAsia, the budget carrier of Capital A Bhd, is turning to India to make up the shortfall.

Asharq Al-Awsat

Samsung China Chip Production Faces Disruption from Korea Trucker Strike

Samsung Electronics Co Ltd's chip production in China is facing disruption from a trucker strike in South Korea which is blocking exports of a key material, the Korea International Trade Association (KITA) said on Tuesday. It is the first concrete sign that the week-long strike is impacting chip production, having…

Reuters

S.Korea truckers end strike; gov't agrees to extend pay guarantee

South Korea's unionised truckers and the transport ministry reached a tentative agreement on Tuesday on minimum pay guarantees in a late night deal ending a nationwide strike that crippled ports and industrial hubs, the two parties said.

Asharq Al-Awsat

Oil Prices Inch Lower as China COVID, Recession Worries Outweigh Tight Supply

Oil prices inched lower after seesawing through early trading on Tuesday, as worries that fuel demand would be hit by a possible recession and fresh COVID-19 curbs in China outweighed tight global supplies. US West Texas Intermediate (WTI) crude fell 22 cents, or 0.2% to $120.71 a barrel at 0353…

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