‘New consensus’ reached on US-China trade, says Chinese Vice Premier Liu He

Xi said he hopes both sides will continue to work together to conclude talks on the trade text as early as possible, Xinhua reported. Trump said on Thursday that “we’ll know over the next four weeks” if the two countries have a deal. Greater China markets were closed on Friday. The Trump administration imposed additional tariffs on $250 billion in Chinese imports, while Beijing slapped duties on $110 billion of American goods. Representatives from both countries have been meeting to address thei


Xi said he hopes both sides will continue to work together to conclude talks on the trade text as early as possible, Xinhua reported. Trump said on Thursday that “we’ll know over the next four weeks” if the two countries have a deal. Greater China markets were closed on Friday. The Trump administration imposed additional tariffs on $250 billion in Chinese imports, while Beijing slapped duties on $110 billion of American goods. Representatives from both countries have been meeting to address thei
‘New consensus’ reached on US-China trade, says Chinese Vice Premier Liu He Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: yen nee lee
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'New consensus' reached on US-China trade, says Chinese Vice Premier Liu He

This is what a US-China trade deal may look like 22 Hours Ago | 02:13

Chinese President Xi Jinping, through a message conveyed by Liu, told Trump that both sides have made new and substantial progress on key issues regarding trade in the past month, according to Xinhua. Xi said he hopes both sides will continue to work together to conclude talks on the trade text as early as possible, Xinhua reported.

Trump said on Thursday that “we’ll know over the next four weeks” if the two countries have a deal.

Greater China markets were closed on Friday.

The U.S. and China — the two largest economies in the world — are engaged in a tariff fight that started last year. The Trump administration imposed additional tariffs on $250 billion in Chinese imports, while Beijing slapped duties on $110 billion of American goods.

Representatives from both countries have been meeting to address their differences on issues such a trade imbalance and alleged forced technology transfers from American firms to their Chinese partners. Tensions between the U.S. and China have roiled global markets and hit economic activity worldwide.

— CNBC’s Jacob Pramuk and Kayla Tausche contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: yen nee lee
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Chinese stocks rocketed higher on Trump’s trade tweet, but a deal isn’t a sure thing

U.S. President Donald Trump and China’s state-run news agency Xinhua both announced “significant progress” from the last week of trade negotiations. Encouragingly, both sides specifically mentioned the issues of technology transfer, intellectual property protection, currency, services and agriculture. Still, the U.S. and China will need to overcome significant hurdles if they’re to ink a deal resolving their long-term disagreements. “Assuming both sides make additional progress, we will be plann


U.S. President Donald Trump and China’s state-run news agency Xinhua both announced “significant progress” from the last week of trade negotiations. Encouragingly, both sides specifically mentioned the issues of technology transfer, intellectual property protection, currency, services and agriculture. Still, the U.S. and China will need to overcome significant hurdles if they’re to ink a deal resolving their long-term disagreements. “Assuming both sides make additional progress, we will be plann
Chinese stocks rocketed higher on Trump’s trade tweet, but a deal isn’t a sure thing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-25  Authors: evelyn cheng, mark schiefelbein, pool, -chris rogers, research analyst at panjiva
Keywords: news, cnbc, companies, chinese, trump, sides, think, good, higher, rocketed, china, trade, stocks, progress, deal, trumps, isnt, president, significant, sure, thing, xinhua


Chinese stocks rocketed higher on Trump's trade tweet, but a deal isn't a sure thing

U.S. President Donald Trump and China’s state-run news agency Xinhua both announced “significant progress” from the last week of trade negotiations.

Encouragingly, both sides specifically mentioned the issues of technology transfer, intellectual property protection, currency, services and agriculture. Still, the U.S. and China will need to overcome significant hurdles if they’re to ink a deal resolving their long-term disagreements.

Trump said in a Sunday evening Twitter post he would delay an increase in tariffs on Chinese exports to the U.S. that was originally scheduled for March 1. “Assuming both sides make additional progress, we will be planning a Summit for President Xi and myself, at Mar-a-Lago, to conclude an agreement,” Trump tweeted. “A very good weekend for U.S. & China!”

Chinese stocks rallied following the news. The Shanghai composite soared 5.6 percent, sending the index back into bull market territory, or up more than 20 percent from a low touched in early January.

“In general it’s perceived as very positive,” Wang Huiyao, an advisor to the Chinese government and the president of Beijing-based think tank Center for China and Globalization, said in a phone interview on Monday. “If people think this is good for the country, the government can rally support (and be) more conciliatory, more cooperative.”

WATCH: The U.S. and China are fighting for global power


Company: cnbc, Activity: cnbc, Date: 2019-02-25  Authors: evelyn cheng, mark schiefelbein, pool, -chris rogers, research analyst at panjiva
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China retail earnings up 8.5 percent during new year holiday, Commerce Ministry says

China’s retailer and catering enterprises earned over 1 trillion yuan ($148.3 billion) during the Lunar New Year holiday, defying an economic slump to rise 8.5 percent from last year, the country’s commerce ministry said late on Sunday. The increase was down to the rapid growth in sales of new-year gifts, traditional foods, electronic products and local speciality products over a six-day holiday period ending on Saturday, the Ministry of Commerce said in a notice on its website. Domestic tourism


China’s retailer and catering enterprises earned over 1 trillion yuan ($148.3 billion) during the Lunar New Year holiday, defying an economic slump to rise 8.5 percent from last year, the country’s commerce ministry said late on Sunday. The increase was down to the rapid growth in sales of new-year gifts, traditional foods, electronic products and local speciality products over a six-day holiday period ending on Saturday, the Ministry of Commerce said in a notice on its website. Domestic tourism
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Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: vcg, getty images
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China retail earnings up 8.5 percent during new year holiday, Commerce Ministry says

China’s retailer and catering enterprises earned over 1 trillion yuan ($148.3 billion) during the Lunar New Year holiday, defying an economic slump to rise 8.5 percent from last year, the country’s commerce ministry said late on Sunday.

The increase was down to the rapid growth in sales of new-year gifts, traditional foods, electronic products and local speciality products over a six-day holiday period ending on Saturday, the Ministry of Commerce said in a notice on its website.

Domestic tourism during the new year break generated total revenues of 513.9 billion yuan, up 8.2 percent on the year, with the number of trips rising 7.6 percent to 415 million, the official Xinhua news agency said on Sunday, citing official data.


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‘We need Amazon,’ Gov Cuomo says after report that it might cancel New York HQ2 plans

Andrew Cuomo lambasted local politicians who oppose his deal to bring Amazon’s second “headquarters” to Long Island City, saying, “we have to make Amazon a reality.” “And if they stop Amazon from coming to New York, they’re going to have the people of New York state to explain it to. Cuomo said the Post’s story was evidence that local opposition has begun to scare off Amazon. The governor said local opposition is standard procedure for change of any kind because “people just oppose change.” Watc


Andrew Cuomo lambasted local politicians who oppose his deal to bring Amazon’s second “headquarters” to Long Island City, saying, “we have to make Amazon a reality.” “And if they stop Amazon from coming to New York, they’re going to have the people of New York state to explain it to. Cuomo said the Post’s story was evidence that local opposition has begun to scare off Amazon. The governor said local opposition is standard procedure for change of any kind because “people just oppose change.” Watc
‘We need Amazon,’ Gov Cuomo says after report that it might cancel New York HQ2 plans Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: lauren feiner, wang ying, xinhua, getty images
Keywords: news, cnbc, companies, york, cancel, local, deal, report, amazon, state, need, city, gov, hq2, opposition, plans, jobs, theyre, cuomo


'We need Amazon,' Gov Cuomo says after report that it might cancel New York HQ2 plans

New York Gov. Andrew Cuomo lambasted local politicians who oppose his deal to bring Amazon’s second “headquarters” to Long Island City, saying, “we have to make Amazon a reality.”

“For the state Senate to oppose Amazon was governmental malpractice,” Cuomo said at a news conference on Long Island, where he discussed the state budget for the region. “And if they stop Amazon from coming to New York, they’re going to have the people of New York state to explain it to. It is irresponsible to allow political opposition to overcome sound government policy.”

Cuomo’s news conference came shortly after The Washington Post published a report on Friday saying Amazon is reconsidering bringing its new office, along with 25,000 jobs with an average salary of $150,000, to the Long Island City neighborhood in New York’s Queens borough. Some state and local officials, including Rep. Alexandria Ocasio-Cortez, have opposed the nearly $3 billion in performance-based incentives the state and city government offered Amazon to lure the company to the city. City Council officials were not privy to the details of the package until after Amazon had selected New York as one of its two locations for its second headquarters.

Cuomo said the Post’s story was evidence that local opposition has begun to scare off Amazon.

“You want to know how dangerous it is?” Cuomo asked. “There is a story today that says Amazon may not come to New York. If Amazon does not come to New York, it’s because of the political opposition.”

The governor said local opposition is standard procedure for change of any kind because “people just oppose change.” But he argued the state would be giving up an enormous opportunity if it lost this deal with Amazon, saying the volume of high-paying jobs Amazon has promised to bring to the state is practically unheard of.

“I spend days trying to bring a business that has 100 jobs or 200 jobs,” he said.

Opponents of the state and city’s deal with Amazon have taken the reported reconsideration as a sign that their message is resonating with both locals and executives at the company. Ocasio-Cortez, who represents the Bronx and parts of Queens in Congress, cheered the Post’s story. “Can everyday people come together and effectively organize against creeping overreach of one of the world’s biggest corporations? Yes, they can,” she tweeted.

State Sen. Michael Gianaris, a critic of the Amazon deal who was selected this week to serve on the state board that will ultimately approve or reject Amazon’s deal, told CNBC on Friday that the report in the Post, which is owned by Amazon CEO Jeff Bezos, was the first he heard of Amazon’s reconsideration. But he suggested it could be part of a negotiation tactic.

“This is typical of the way Amazon has handled this situation,” he said. “If they’re trying to extort New York through anonymous threats, they’re showing that they’re not a responsible corporate actor to begin with. … If their view is we want your $3 billion or we’re leaving, maybe they should leave.”

Cuomo, on the other hand, sees Amazon as a critical piece in his vision for New York’s economy.

“You want to diversify your economy? You don’t want to just be Wall Street and finance?” Cuomo asked. “We need Amazon.”

—CNBC’s Jacob Pramuk contributed to this report.

Subscribe to CNBC on YouTube.

Watch: Amazon reconsidering New York headquarters after local opposition, according to Washington Post


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: lauren feiner, wang ying, xinhua, getty images
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China trade delegation arrives in Washington for talks

A Chinese delegation led by Vice Premier Liu He arrived in Washington, D.C. on Monday for economic and trade negotiations, the official Xinhua news agency reported on Tuesday. The delegation includes China’s central bank governor Yi Gang as well as the vice chair of China’s state planner and the vice finance minister, the report said, without providing details on the agenda.


A Chinese delegation led by Vice Premier Liu He arrived in Washington, D.C. on Monday for economic and trade negotiations, the official Xinhua news agency reported on Tuesday. The delegation includes China’s central bank governor Yi Gang as well as the vice chair of China’s state planner and the vice finance minister, the report said, without providing details on the agenda.
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China trade delegation arrives in Washington for talks

A Chinese delegation led by Vice Premier Liu He arrived in Washington, D.C. on Monday for economic and trade negotiations, the official Xinhua news agency reported on Tuesday.

The delegation includes China’s central bank governor Yi Gang as well as the vice chair of China’s state planner and the vice finance minister, the report said, without providing details on the agenda.


Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: getty images
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Chinese scientist who gene-edited babies fired by university

A Chinese scientist who created what he said were the world’s first “gene-edited” babies evaded oversight and broke ethical boundaries in a quest for fame and fortune, state media said on Monday, as his former university said he had been fired. Hundreds of Chinese and international scientists condemned He and said any application of gene editing on human embryos for reproductive purposes was unethical. Chinese authorities also denounced He and issued a temporary halt to research activities invol


A Chinese scientist who created what he said were the world’s first “gene-edited” babies evaded oversight and broke ethical boundaries in a quest for fame and fortune, state media said on Monday, as his former university said he had been fired. Hundreds of Chinese and international scientists condemned He and said any application of gene editing on human embryos for reproductive purposes was unethical. Chinese authorities also denounced He and issued a temporary halt to research activities invol
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Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: vchal, getty images
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Chinese scientist who gene-edited babies fired by university

A Chinese scientist who created what he said were the world’s first “gene-edited” babies evaded oversight and broke ethical boundaries in a quest for fame and fortune, state media said on Monday, as his former university said he had been fired.

He Jiankui said in November that he used a gene-editing technology known as CRISPR-Cas9 to alter the embryonic genes of twin girls born that month, sparking an international outcry about the ethics and safety of such research.

Hundreds of Chinese and international scientists condemned He and said any application of gene editing on human embryos for reproductive purposes was unethical.

Chinese authorities also denounced He and issued a temporary halt to research activities involving the editing of human genes.

He had “deliberately evaded oversight” with the intent of creating a gene-edited baby “for the purpose of reproduction,” according to the initial findings of an investigating team set up by the Health Commission of China in southern Guangdong province, Xinhua news agency reported.

He had raised funds himself and privately organised a team of people to carry out the procedure in order to “seek personal fame and profit”, Xinhua said, adding that he had forged ethical review papers in order to enlist volunteers for the procedure.

The safety and efficacy of the technologies He used are unreliable and creating gene-edited babies for reproduction is banned by national decree, the report said.

The Southern University of Science and Technology (SUSTech) in the city of Shenzhen, said in a statement on its website that He had been fired.

“Effective immediately, SUSTech will rescind the work contract with Dr. Jiankui He and terminate any of his teaching and research activities at SUSTech,” the statement said.

The university added the decision came after a preliminary investigation by the Guangdong Province Investigation Task Force.

Neither He nor a representative could be reached for comment on Monday. He defended his actions at a conference in Hong Kong in November, saying that he was “proud” of what he had done and that gene editing would help protect the girls from being infected with HIV, the virus that causes AIDS.

International experts in genetic science said they hoped that Monday’s report was only the initial result of investigations into He and that more action would be taken.

“The report will hopefully set an example with appropriate legal and punitive actions to reassure the public and scientific community,” said Yalda Jamshidi, a genomics expert at Britain’s University of London.

He’s announcement sparked a debate among Chinese legal scholars over which laws He had technically broken by carrying out the procedure, as well as whether he could be held criminally responsible or not.

Many scholars pointed to a 2003 guideline that bans altered human embryos from being implanted for the purpose of reproduction, and says altered embryos cannot be developed for more than 14 days.

The case files of those involved who are suspected of committing crimes have been sent to the ministry of public security, an unnamed spokesperson for the investigation team was quoted by Xinhua as saying.

Helen O’Neill, a reproductive science expert at University College London, said she was concerned that the report gave “no further clarification on what measures will be taken to prevent this happening in future, nor what will be done as punishment.”


Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: vchal, getty images
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Nuclear instability at levels not seen since Cuban Missile Crisis, says former US ambassador

The risk of a global nuclear arms race has risen to a level not seen since the aftermath of the Cuban Missile Crisis of 1962, according to a former U.S. ambassador to Russia. In October, President Donald Trump announced the U.S. will end its 1987 Intermediate-Range Nuclear Forces (INF) Treaty with Russia, accusing Moscow of violating its terms. At the same time, Trump has also called for billions of dollars of new spending on new missile defense programs. “2019 could be as consequential a year f


The risk of a global nuclear arms race has risen to a level not seen since the aftermath of the Cuban Missile Crisis of 1962, according to a former U.S. ambassador to Russia. In October, President Donald Trump announced the U.S. will end its 1987 Intermediate-Range Nuclear Forces (INF) Treaty with Russia, accusing Moscow of violating its terms. At the same time, Trump has also called for billions of dollars of new spending on new missile defense programs. “2019 could be as consequential a year f
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Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: david reid, brendan smialowski, afp, getty images, pan xu, xinhua
Keywords: news, cnbc, companies, inf, instability, seen, nuclear, moscow, missile, arms, ambassador, treaty, cuban, levels, crisis, trump, russia, burns


Nuclear instability at levels not seen since Cuban Missile Crisis, says former US ambassador

The risk of a global nuclear arms race has risen to a level not seen since the aftermath of the Cuban Missile Crisis of 1962, according to a former U.S. ambassador to Russia.

In October, President Donald Trump announced the U.S. will end its 1987 Intermediate-Range Nuclear Forces (INF) Treaty with Russia, accusing Moscow of violating its terms. At the same time, Trump has also called for billions of dollars of new spending on new missile defense programs.

Speaking at the World Economic Forum in Davos on Tuesday, the president of the Carnegie Endowment for International Peace and former US ambassador, William Burns, said a conflation of events was creating instability.

“2019 could be as consequential a year for nuclear order since the immediate aftermath of the Cuban Missile Crisis where that brush with Armageddon cause the beginnings of a serious U.S./Soviet effort at arms control,” Burns said.

The INF Treaty between the US and Russia was signed in 1987 and sought to eliminate nuclear and conventional missiles, as well as their launchers, with short ranges (310–620 miles) and intermediate ranges (620–3,420 miles).

Burns said following U.S. accusations that Russia has developed a missile banned by the agreement he saw little prospect of the INF treaty being renewed and both sides would “walk away from it now.”

The former ambassador added that a separate 2010 “New START” (Strategic Arms Reduction Treaty) arrangement, which sought to limit nuclear missile launchers and improve inspections, could also fall by the wayside when its terms expire in 2021.

Burns said the bilateral breakdown between Washington and Moscow was putting pressure on the global situation when previously the two countries had acted in concert to prevent unruly actors or countries

“For better or worse, America and Russia have unique capabilities and responsibilities on nuclear issues and when we are not living up to them it tends to inspire the worst behaviors on the part of other countries,” said Burns.

Trump’s promise to spend billions on missile defense would also trigger a new arms race according to Burns who predicted a greater temptation in Beijing or Moscow to invest even more actively in offensive nuclear technology.


Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: david reid, brendan smialowski, afp, getty images, pan xu, xinhua
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North Korea’s Kim Jong Un visits China, state media reports

North Korean leader Kim Jong Un is visiting China at the invitation of Chinese President Xi Jinping, China’s official Xinhua news agency reported on Tuesday. Kim’s visit, his fourth summit with Xi, comes amid reports of advanced negotiations for a second summit between the North Korean leader and U.S. President Donald Trump.


North Korean leader Kim Jong Un is visiting China at the invitation of Chinese President Xi Jinping, China’s official Xinhua news agency reported on Tuesday. Kim’s visit, his fourth summit with Xi, comes amid reports of advanced negotiations for a second summit between the North Korean leader and U.S. President Donald Trump.
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North Korea's Kim Jong Un visits China, state media reports

North Korean leader Kim Jong Un is visiting China at the invitation of Chinese President Xi Jinping, China’s official Xinhua news agency reported on Tuesday.

Kim’s visit, his fourth summit with Xi, comes amid reports of advanced negotiations for a second summit between the North Korean leader and U.S. President Donald Trump.


Company: cnbc, Activity: cnbc, Date: 2019-01-07  Authors: kcna
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China box office revenue growth slowed in 2018

China’s movie box office revenue rose 9 percent in 2018 to 60.98 billion yuan ($8.87 billion), state media reported, a slower pace than the 13.45 percent clocked for the previous year. Domestic films recorded ticket sales of 37.9 billion yuan in 2018, accounting for 62 percent of the total box office, the official Xinhua news agency said late on Monday, citing data from the State Film Administration. Domestic films in 2017 accounted for 54 percent of total box office. China is the second-largest


China’s movie box office revenue rose 9 percent in 2018 to 60.98 billion yuan ($8.87 billion), state media reported, a slower pace than the 13.45 percent clocked for the previous year. Domestic films recorded ticket sales of 37.9 billion yuan in 2018, accounting for 62 percent of the total box office, the official Xinhua news agency said late on Monday, citing data from the State Film Administration. Domestic films in 2017 accounted for 54 percent of total box office. China is the second-largest
China box office revenue growth slowed in 2018 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-01  Authors: william hong
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China box office revenue growth slowed in 2018

China’s movie box office revenue rose 9 percent in 2018 to 60.98 billion yuan ($8.87 billion), state media reported, a slower pace than the 13.45 percent clocked for the previous year.

Domestic films recorded ticket sales of 37.9 billion yuan in 2018, accounting for 62 percent of the total box office, the official Xinhua news agency said late on Monday, citing data from the State Film Administration.

Domestic films in 2017 accounted for 54 percent of total box office.

China is the second-largest movie market globally after the United States, though it already has more total movie screens after years of rapid expansion in theater networks.

The number of movie screens reached 60,079 across the country, an increase of 9,303 from 2017, Xinhua said. That compares to just over 40,000 screens in the United States, according to data from U.S.-based National Association of Theatre Owners.

China, which is on track to eventually overtake the North America film market, has become an increasingly important region for global producers looking to pump up their box office returns, despite a quota on imported films and strict censorship.

China has been seeking to promote home-grown productions to rival imported Hollywood films. But several big-budget Chinese films have flopped while more modest productions have done well, highlighting the challenges China faces.


Company: cnbc, Activity: cnbc, Date: 2019-01-01  Authors: william hong
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China probe reportedly readying to land on the dark side of the moon

The probe, the Chang’e-4, entered a planned orbit on Sunday “to prepare for the first-ever soft landing on the far side of the moon,” the news agency said, citing the China National Space Administration. Previous spacecraft have seen the far side of the moon, but none has landed on it. China launched the Chang’e-4 probe earlier this month, carried by a Long March-3B rocket. China aims to catch up with Russia and the United States to become a major space power by 2030. The space control center wi


The probe, the Chang’e-4, entered a planned orbit on Sunday “to prepare for the first-ever soft landing on the far side of the moon,” the news agency said, citing the China National Space Administration. Previous spacecraft have seen the far side of the moon, but none has landed on it. China launched the Chang’e-4 probe earlier this month, carried by a Long March-3B rocket. China aims to catch up with Russia and the United States to become a major space power by 2030. The space control center wi
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Company: cnbc, Activity: cnbc, Date: 2018-12-30  Authors: china news service, visual china group, getty images
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China probe reportedly readying to land on the dark side of the moon

A Chinese space probe is moving into position to land on the dark side of the moon for the first time, the official Xinhua news agency reported on Sunday, a mission seen as an important step as the country looks to push forward its space program.

The probe, the Chang’e-4, entered a planned orbit on Sunday “to prepare for the first-ever soft landing on the far side of the moon,” the news agency said, citing the China National Space Administration. It didn’t say when the landing would occur.

The moon is tidally locked to Earth, rotating at the same rate that it orbits our planet, so the far side — or the “dark side” — is never visible from Earth. Previous spacecraft have seen the far side of the moon, but none has landed on it.

China launched the Chang’e-4 probe earlier this month, carried by a Long March-3B rocket. It includes a lander and a rover to explore the surface of the moon.

Xinhua said that the probe had entered an elliptical lunar orbit at 08.55 Beijing time, which brought it at its closest point just 15 kilometres away from the surface of the moon. The Chang’e-4 first entered a lunar orbit on Dec. 12.

The tasks of the Chang’e-4 include astronomical observation, surveying the moon’s terrain, landform and mineral composition, and measuring the neutron radiation and neutral atoms to study the environment on the far side of the moon.

China aims to catch up with Russia and the United States to become a major space power by 2030. It is planning to launch construction of its own manned space station next year.

However, while China has insisted its ambitions are purely peaceful, the U.S. Defense Department has accused it of pursuing activities aimed at preventing other nations from using space-based assets during a crisis.

The space control center will select a “proper time” to land the probe on the far side of the moon, Xinhua reported. Its descent is being aided by a relay satellite, the Queqiao, or Magpie Bridge.


Company: cnbc, Activity: cnbc, Date: 2018-12-30  Authors: china news service, visual china group, getty images
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