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A group of senior U.S. officials, led by Jay Shambaugh, the Treasury Department's undersecretary for international affairs, is traveling to Beijing for high-level meetings with Chinese officials. The purpose of the meetings is to address Washington's concerns over the influx of Chinese goods flooding global markets. The discussions will focus on China's manufacturing overcapacity and its impact on workers and firms in the U.S. and around the world. The U.S. delegation will also explore areas of cooperation with China, such as debt relief for developing countries. [Extracted from the article]

Speculation arose that Russian President Vladimir Putin would visit North Korea during his recent trip to China, causing unease in Beijing. Chinese leader Xi Jinping is concerned about the growing ties between Putin and North Korean leader Kim Jong Un, as it could isolate China diplomatically and reinforce fears of a trilateral authoritarian axis. However, Putin did not visit Pyongyang directly from China, much to China's relief. Beijing has made it clear to Moscow that it prefers bilateral ties rather than a three-way alignment. [Extracted from the article]

Chinese President Xi Jinping is planning to meet with a group of U.S. business leaders next week in Beijing. The meeting comes as China faces economic challenges and an exodus of foreign capital. The meeting is scheduled to take place after the China Development Forum, an annual gathering where global business leaders discuss topics such as China's economic growth, artificial intelligence, and climate change. The meeting with Xi is seen as an opportunity for American CEOs to address concerns about inconsistent regulation and rising operational risks in China. [Extracted from the article]

The annual China Development Forum, a government-sponsored event that brings together Western corporate leaders and Chinese policymakers, is set to take place in Beijing. CEOs such as Tim Cook of Apple, Cristiano Amon of Qualcomm, and Albert Bourla of Pfizer are expected to attend. However, it remains uncertain which senior Chinese leader will participate in the event and meet with the CEOs. This uncertainty reflects the increasing opacity of China's party-state under President Xi Jinping. The forum aims to attract and retain foreign investment in China, but some business executives believe that more than a single meeting is needed to rebuild confidence and regain foreign capital. China's economic slowdown, geopolitical tensions, and inconsistent regulation have contributed to a decline in its appeal as a growth market for foreign firms. [Extracted from the article]

Bi-khim Hsiao, Taiwan's vice president-elect, is currently on a low-profile visit to Washington, D.C. The purpose of her trip is to pack belongings she left behind during her campaign with president-elect Lai Ching-te, but she also plans to meet with U.S. officials to discuss the new Taipei government's agenda. Both Washington and Taipei are trying to keep Hsiao's visit under wraps to avoid antagonizing China, which claims Taiwan as part of its territory. Hsiao's visit may upset Chinese leadership, as they prefer to keep Taiwan as a local matter. However, many countries have set aside their fears of offending China and have shown support for Taiwan's political autonomy. [Extracted from the article]

President Biden has signed an executive order aimed at restricting the sale of sensitive U.S. data to China and other adversarial countries. The order is intended to address the national security risk posed by the use of Americans' personal information by foreign spy agencies. Under the order, specific categories of sensitive data, such as genomic, biometric, and financial information, will be barred from being sold or transferred to "countries of concern." The order also tasks the Justice Department with creating regulations to protect Americans' personal data and restrict certain government-related data. However, concerns have been raised about unintended consequences and inhibiting cross-border data exchange. [Extracted from the article]

China's President Xi Jinping is seeking to address the country's real estate crisis by implementing socialist ideas and increasing state control over the property market. The plan involves the state buying distressed private-market projects and converting them into government-owned homes for rent or sale, as well as constructing more subsidized housing for low- and middle-income families. The goal is to increase the share of state-built housing to at least 30% of China's housing stock. However, the plan faces challenges, including the potential cost of up to $1.4 trillion and concerns about the government's ability to fund it. [Extracted from the article]

U.S. national security adviser Jake Sullivan is traveling to Thailand to meet with China's foreign minister Wang Yi to discuss the recent Houthi attacks on Red Sea shipping and other issues. The meeting reflects the commitment of both sides to maintain strategic communication and responsibly manage their relationship. The Biden administration has asked China to convey messages to Iran about avoiding a broader conflict, as they believe Iran supplies the Houthis with weapons and support. The U.S. hopes that China will use its influence to help stem the flow of weapons to the Houthis. China has expressed concern over the escalation of tensions in the Red Sea and has called for a stop to disturbances to civilian ships. Sullivan will also meet with Thailand's Prime Minister to discuss opportunities for cooperation. [Extracted from the article]

Liu Jianchao is expected to be named China's next foreign minister. He is a translator-turned-diplomat and has experience in the Communist Party's anticorruption watchdog. Liu has been sent on a trip to the United States to bolster his profile in the foreign-policy and business communities. His expected appointment comes at a delicate time in U.S.-China relations, and both countries are seeking to stabilize relations before the U.S. election season. Liu has been engaging with American think tanks, investors, and Biden administration officials, delivering China's message while also addressing concerns over China's policies. [Extracted from the article]

China's leader, Xi Jinping, is embracing aspects of Mao Zedong's rule, which is causing uncertainty for the country's future. Xi is prioritizing national security over the economy, tightening government control, and placing the Communist Party at the center of Chinese society. This shift has led to a decline in economic growth, rising unemployment, and increased government surveillance. While some Chinese support Xi's policies, many are concerned about the loss of freedoms and economic opportunities. Xi's focus on state control may hinder China's ability to become the world's largest economy and achieve financial freedom for its citizens. [Extracted from the article]

Institutional investors on Wall Street are reducing their investments in China due to concerns about the country's economic slowdown, a property market slump, and restrictions on data access and national security. Chinese stocks and bonds have seen a net outflow of over $31 billion this year, the largest since China joined the World Trade Organization in 2001. Hedge funds, private-equity firms, and mutual-fund managers have all scaled back their holdings in Chinese securities. While some financiers remain committed to China, the reduction of Wall Street money is a blow to the Chinese economy, which is already experiencing an exodus of foreign companies. [Extracted from the article]

Chinese regulators have approved a $69 billion deal between chipmaker Broadcom and enterprise-software developer VMware, as well as granting New York-based payments processor Mastercard permission to issue yuan-denominated cards in China. These approvals are seen as attempts to appease American corporations and improve the bilateral relationship between the US and China. However, experts caution that these isolated cases are unlikely to significantly increase investment in China, as many multinational companies remain skeptical due to economic woes and challenges such as opaque data-localization laws and restricted access to information. [Extracted from the article]

Chinese leader Xi Jinping did not address trade and investment during a dinner with U.S. business leaders on his first trip to the U.S. in six years. Instead, Xi focused on enlisting American corporations' help in easing bilateral tensions and emphasized the potential for cooperation between the two nations. Some executives in attendance were disappointed by the lack of reassurance for businesses operating in China, while others applauded Xi for visiting the U.S. and viewed it as a positive step. Foreign firms have been withdrawing capital from China, and Xi's goal is to stabilize relations with the U.S. and restore investor confidence in China's economy. [Extracted from the article]

President Biden and Chinese President Xi Jinping are set to hold their first face-to-face meeting in a year in the San Francisco Bay Area. The path to the summit has been filled with diplomatic slights and gamesmanship, with both sides resorting to maneuvers to put the other off balance. The meeting is not expected to resolve the adversarial trajectory of the U.S.-China relationship, but both leaders have an interest in preventing the rivalry from escalating into conflict. The summit may result in some substantive wins, such as resuming contacts between their militaries and cooperating on ending fentanyl trafficking. [Extracted from the article]

Hoping to expand its securities-underwriting business in the U.S., Industrial & Commercial Bank of China Ltd. (ICBC) will take over Fortis Securities's unit Prime Dealer Services. ICBC's third-quarter profit increased 27% to $6.4 billion.

Highland Hospitality Corp. is considering a Chapter 11 bankruptcy, but the hotel chain is in talks with investors to raise at least $200 million to pay creditors and avoid a bankruptcy filing.

Sovereign-wealth fund China Investment Corp. (CIC) is negotiation to buy Harvard University's endowment's stakes in six U.S.-focused real-estate funds for $500 million. By investing in U.S. commercial property at this time, the CIC avoids overpaying for real estate and the political backlash associated with high-profile foreign investments.

Betting that property values have fallen enough to limit the bank's lending risks, the Industrial & Commercial Bank of China is offering loans greater than $100 million to commercial real-estate owners in the U.S. ICBC will lend up to 65% of a property's value.

Goldman Sachs Group Inc. is expected to provide $2.2 billion in financing to a group of investors led by Starwood Capital Group to buy hotel chain Extended Stay Inc. About $1 billion of the financing will come from Goldman's partner in the deal, Citigroup Inc.

Entrepreneur Andrew Farkas, through his company Island Capital Group, is negotiating the acquisition of a division of Centerline Holding co., a company that specializes in restructuring troubled mortgages securitized into bonds.

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