China - Unusual Whales

Elon Musk said China was willing to work on international AI regulations

Per SCMP Elon Musk said that China is willing to work with the US when it came to international AI regulations. The tech billionaire said that the country was "on team humanity." This came after Musk's visit to China in May, where he gave their senior

biden administration

Biden administration is preparing to restrict US cloud-computing services access to Chinese companies

Per Reuters The Biden administration is planning to restrict access to US cloud-computing services for Chinese companies. This likely includes access to providers like Amazon and Microsoft's cloud services. This was according to people familiar with the situation, who noted that should the rule be enforced, it would

us state department

US State Department warns against traveling to China

Per CNN The US State Department has issued a warning for individuals who might have been planning to take a vacation or basically traveling to China. The warning highlighted that this decision should be reconsidered due to there being a risk of wrongful detention. Mainland China was listed as a

us

US officially goes after Chinese fentanyl manufacturers with first-ever charges

Per Reuters While certain parts of the US have been dealing with the fentanyl crisis, the government is finally stepping in and would be filing the first ever chargest against Chinese fentanyl manufacturers. It was rpeorted that the charges would involve four companies and eight individuals. The allegations include how

saudi arabia

Saudi Arabia explores China business opportunities instead of the US

Per Bloomberg Saudi Arabia has just recently hosted a gathering with China which was designed to boost business interest. This comes as the kingdom was trying to strengthen its relationship with China instead of the US. Saudi Investment Minister Khalid Al-Falih gave a statement in a keynote address regarding China

Chinese

A record fifth of Chinese youth were reportedly unemployed

Per CNBC New data regarding the employment rate of Chinese people found that a fifth of its youth was reportedly unemployed. These came from the employment data around this age demographic in May. It was reported that this was a new record for unemployed youth, according to the National Bureau

China

'Best-behaved' Chinese citizens are now rewarded with cheaper travel and cheaper loans

Per Bloomberg China has long been known to surveil its citizens, and now, the country is offering rewards to citizens that qualify as being best-behaved. These rewards are designed to incentivize citizens to act better. The rewards include travel discounts for individuals but on top of that; companies would also

digital yuan

Chinese city Changshu starts paying public employees in digital yuan

Per Nikkei Starting this month, Changshu, a city in the Jiangsu province of China, will start paying its public sector employees in digital yuan compared to the conventional bank notes. This comes as the country is trying to promote the digital currency. Per the report, this move comes as the

China

China has $3.205 trillion in forex reserves after another increase in April

Per Reuters In April, it was reported that China had reached a whopping $3.205 trillion, and although this didn't beat its previous record, this was still considered a significant high for its reserves. The figure beats previous estimations and comes as the dollar is struggling. It was

venezuela

Connections between Venezuela and China are being re-established as the governments resume joint projects

Per Bloomberg For years, Venezuela and China have had cooling ties with one another, but recently, their connections have been re-established. A Maduro government lawmaker, former industry minister, and vice president of the Venezuela-China Parliamentary Friendship Group, Rodolfo Sanz, said that China is a "strategic ally." This comes

China

China and India helped bring Russia's crude oil shipments to return to pre-war levels

Per BI While the rest of the world was cutting off Russian crude oil, China and India have remained buying from them. Now, due to the two countries, Russia's crude oil experts have reached the same levels as they were before the war. It was reported that 90%

taiwan

Taiwan plans to face China threat by buying 400 US anti-ship missiles

Per Reuters Taiwan is arming its military by buying up 400 US anti-ship missiles. This was to deal with the rising China threat. The purchase involves Harpoon AGM-84 anti-ship missiles from the US. This matched the Pentagon's announcement that it would sell 400 anti-ship missiles for a contract

france

France and China discussed deals regarding nuclear and wind energy

Per Reuters China's Xi Jinping and France's Emmanuel Macron have met to discuss countless topics, including Russia and Ukraine. Aside from this, the two even discussed deals regarding energy, involving nuclear and renewable energy, specifically wind. This happened during Macron's visit to China, which

huawei

Huawei profits dropped by 69% last year, with the company enumerating the reasons behind the decline

Per CNBC Huawei reportedly experienced a massive drop in profits by 69% in 2022. The company has enumerated the many reasons they reportedly experienced a profit drop. Huawei blamed the following. * Rising commodity prices * Strict pandemic controls in China * One-off gain related to Honor's sale * U.S. sanctions

China

China completes the first LNG trade (worth 65,000 tonnes) settled in Yuan

Per Global Times China's state tabloid, the Global Times, has recently published a piece announcing the success of the first-ever LNG trade that was settled in Chinese yuan. The cross-border trade involved 65,000 tonnes of LNG sourced from the United Arab Emirates. For the transaction to take

vanguard

Vanguard to exit China by severing its joint venture with Ant Group: Shanghai offices to shut down

Per CNBC Vanguard will exit China's $3.92 trillion funds market by severing its joint venture with Ant Group. Familiar sources said that the group would close its main office in Shanghai. The decision will come after having six years of presence in China, considered the world'

China

China restricts capital withdrawal to outside the country, per billionaire investor Mark Mobius

Per Fox Business Morbius Capital Partners LLP's Mark Mobius says he can't get his capital out of China. He shared how he struggled to get money from his HSBC bank account in Shanghai. Mobius: "I'm personally affected because I have an account with

canada

Canada will stop funding projects connected to foreign military, including those with affiliations to China

Per Bloomberg Canada has decided to make a firm decision about funding projects that have affiliations with a foreign military. The government gave a decision regarding how it is making these decisions to protect itself. “This new action is one of many significant steps the government of Canada is taking

Baidu

Chinese Company Baidu to Compete with ChatGPT with Its Own AI Platform

Per Bloomberg Baidu, a Chinese company that describes itself as "similar to the Google app" for Chinese speakers, is planning to release an AI chatbot service similar to ChatGPT, developed by OpenAI. News of this plan sent its stock rising by 5.8% after the report. The Chinese

tiktok

US Senator Josh Hawley Plans Nationwide TikTok Ban Bill: 'TikTok is China's Backdoor Into Americans' Lives'

Per Reuters US Senator Josh Haley is taking a strong stance against TikTok, saying it should be outright banned from the country. To take things a step further, he plans to introduce a bill that would ban the app nationally. The US Senate officially banned using TikTok on all government

China

China Hit 7 Million Daily COVID Infections in Early January but Now, CDC Say Cases Drop 72% from Peak

Per CNA and Reuters China previously hit 7 million daily COVID infections on Dec 22, and a recent report by the CDC says that the cases dropped by 72% from the peak almost a month later. The country's death has reportedly also dropped to low levels. As for

China

China Sold 5X More EVs Compared to the US in 2022

Per Forbes China has remained a huge market for electric vehicles compared to other markets like the US. Data showed that the country's EV sales were 5x more than the US. The China Passenger Car Association released 2022 sales data which revealed how their EV sales did against

fbi

FBI Uses Facebook Ads to Look for Chinese Speakers in the US that Experienced Any Misdoings by China's Government

Per Axios The Federal Bureau of Investigation is using Facebook ads to announce that they are looking for Chinese speakers in the US that have experienced wrongdoings by actors in the Chinese government. The ads are directed specifically to US residents and Chinese intelligence officers. The ad specifies that they

China

China Removes Over 1,000 Social Media Accounts, Citing Almost 13,000 Violations

Per BBC Weibo, a Chinese social media site, has said it purposely suspended accounts criticizing country specialists for COVID-19. So far, the platform has removed over 1,000 accounts and has cited more than 13,000 violations. In line with China's zero-Covid policy enacted in December, the government

DELL

Dell 2024 Plans Include Phasing Out 'Made In China' Chips

Per Nikkei As tensions between US and Beijing are rising, Dell, an American computer company, has decided that it is planning to significantly decrease its reliance on "Made in China" chips to phase them out completely by the year 2024 finally. While most companies, especially tech companies, rely