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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]

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]

China has increased its bond issuance and raised its budget-deficit target in an effort to stimulate its economy. The country's top legislative body approved a plan to raise 1 trillion yuan ($137 billion) in additional sovereign debt, with half to be used this year and half for next year. The bond issuance is intended for infrastructure projects following severe flooding and other natural disasters. While the stimulus is seen as incremental and unlikely to reverse long-standing economic challenges, it signals the central government's willingness to fund infrastructure projects and shoulder responsibility. [Extracted from the article]

The U.S. and China are both trying to gain an advantage ahead of an upcoming summit between President Biden and Chinese leader Xi Jinping. The Biden administration is expected to roll out updated export-control measures that would further restrict China's access to advanced semiconductors and chip-making tools. Beijing has objected to what it calls "technology bullying" by Washington. Meanwhile, Xi Jinping is planning to travel to Vietnam to showcase the close relations between China and its neighbor after Biden courted Vietnamese leaders in Hanoi last month. Both countries are seeking concessions from each other, with the U.S. wanting to restore communication between their militaries and fair treatment for American companies in China, and China hoping for better relations with the U.S. to help its anemic economy. The U.S. supports Taiwan, while Beijing exerts military pressure on it. The U.S. is also working to close loopholes in export restrictions on high-end technology to China, and the expected new semiconductor restrictions would include tougher controls on exports of artificial-intelligence chips. The U.S. is also seeking to align restrictions on Chinese access to advanced chip-making equipment with those announced by the Netherlands and Japan. The Biden administration has decided to press ahead with these actions to set the tone in relations with Beijing and show that it isn't pulling any punches in advance of the summit. Both sides see a summit as crucial to stabilizing ties, but China wants to approach the U.S. from a position of strength, which is why Xi is [Extracted from the article]

Wsjworld, Asia Pacific, Asia, BRICS Countries, China, Greater China, Emerging Market Countries, Developing Economies, East Asia, North America Keywords: wsjworld; Asia Pacific; Asia; BRICS Countries; China; Greater China; Emerging Market Countries; Developing Economies; East Asia; North America EN wsjworld Asia Pacific Asia BRICS Countries China Greater China Emerging Market Countries Developing Economies East Asia North America N.PAG N.PAG 1 08/29/23 20230828 NES 230828 Western experts say more stimulus is needed, but Xi Jinping resists handouts to consumers, fearing they could lead to "welfarism" HONG KONG - Ideology is driving China's economic policy to a degree not seen since the country's opening to the West nearly half a century ago, deterring its leaders from taking steps to spur the sputtering economy. [Extracted from the article]

China's 40-Year Boom Is Over. Gfx-contrib, leder, wsjworld, Asia Pacific, Asia, BRICS Countries, China, Greater China, Emerging Market Countries, Developing Economies That would make it harder for China to graduate from the ranks of middle-income emerging markets and could mean that China never overtakes the U.S. as the world's largest economy, its longstanding ambition. Total debt, including that held by various levels of government and state-owned companies, climbed to nearly 300% of China's GDP as of 2022, surpassing U.S. levels and up from less than 200% in 2012, according to Bank for International Settlements data. [Extracted from the article]

Keywords: leder; chinese companies; china; Retail/Wholesale; E-commerce; Online Service Providers; Retail; Technology; Regulation/Government Policy; Ownership Changes EN leder chinese companies china Retail/Wholesale E-commerce Online Service Providers Retail Technology Regulation/Government Policy Ownership Changes N.PAG N.PAG 1 03/13/23 20230309 NES 230309 The state takes company stakes that are often small but give it a board seat and power to ensure that corporate behavior hews to the party agenda In its uneasy dance with China's private sector, the Communist Party is moving away from a public battle with some of the country's biggest companies. But companies that sell the government the much smaller stakes called golden shares are finding how even this way, the government is getting a lot of power over their businesses. Advertisement Hybrid-ownership companies, with the government owning between 20% and 80%, now represent about 26% of the total capitalization of mainland-listed companies, according to Thomas Gatley, a China market strategist at research firm Gavekal Dragonomics. [Extracted from the article]