Breaking: Xi Jinping to Visit Three European Countries from May 5th; China is gunning for the chief scientist of its COVID vaccine project, accusing him of 'serious discipline and law violations'
China is gunning for the chief scientist of its COVID vaccine project, accusing him of 'serious discipline and law violations'
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Breaking: Xi Jinping to Visit Three European Countriesfrom May 5th to 10th
Reuters
Xi Jinping will visit France, Serbia, and Hungary from May 5th to 10th, at the invitation of the respective leaders. This visit, the first by a Chinese head of state in nearly five years, holds significant importance for advancing China's relations with France, Serbia, Hungary, and overall relations with Europe, contributing to world peace and development.
Prior to Xi Jinping's visit to France, Airbus, the European aircraft manufacturer, has been negotiating a potential large aircraft deal with China. Xi Jinping's visit to France is expected to take place from May 6th to 7th. Additionally, it's reported that Xi Jinping may visit Belgrade, Serbia's capital, on May 7th, coinciding with the 25th anniversary of the NATO bombing of the Chinese Embassy in Belgrade. Finally, according to reports, Xi Jinping will visit Hungary from May 8th to 10th.
US Creates Team to Counter China’s ‘Coercion’ Tactics
Bloomberg
In response to China's use of economic coercion tactics against countries like South Korea, Australia, and Lithuania, the US has established a State Department team to offer guidance and support. This team helps nations diversify their export markets and mitigate economic pressure from China. The strategy acknowledges past failures in adequately supporting countries facing Chinese coercion. The US government utilizes economic tools in foreign affairs, but faces challenges in crafting new trade agreements. Despite criticism, recent actions show swift responses to China's coercive tactics, as seen in the case of Lithuania. The support includes financial aid, diplomatic gestures, and efforts to bolster trade relationships. Other nations are cautioned about dependency on China, as economic coercion could be wielded against them in the future.
Parliamentarians say Ottawa never informed them of targeting by Beijing-linked hackers
The Globe and Mail
Canada’s government has been accused of failing to inform Canadian MPs and senators that they had been targeted by a Chinese hacking group linked to Beijing. The group, known as Advanced Persistent Threat 31, or APT31, has been charged with a hacking campaign targeting US officials, journalists, corporations, pro-democracy activists and UK election watchdogs. The Inter-Parliamentary Alliance on China (IPAC), of which around 30 Canadian parliamentarians are members, said that the FBI had informed its members that they had been targeted. The Canadian government has never revealed publicly that APT31 targeted Canadian MPs or senators. IPAC is now seeking a full list of all parliamentarians targeted, and has confirmed that 122 email accounts belonging to IPAC legislators have been found in the FBI’s database of hacking targets. The group has called for sanctions against those responsible for the attack.
South China Morning Post
Tesla has passed a review by the China Association of Automobile Manufacturers (CAAM) testing its compliance with Beijing's data security rules. This could lead to the removal of restrictions on the use of Tesla cars in mainland China. The assessment by CAAM, a government-backed industry consortium, found that Tesla's protection of privacy in handling personal data, including facial recognition and cockpit data, met the necessary standards. The endorsement applies to Tesla's Model 3 and Model Y vehicles assembled at its Shanghai Giga factory and could result in an easing of restrictions on their access to certain state-backed entities, airports and motorways.
Yahoo US
Yang Xiaoming, the chief scientist of China's COVID-19 vaccine project, has been removed from the National People's Congress due to "serious discipline and law violations." Yang led the team that developed the Sinopharm vaccine and was China's top researcher for its vaccine project. The phrase "serious discipline and law violations" typically refers to corruption in China. Yang's dismissal has sparked wild speculation on social media platform Weibo, with thousands of posts questioning the reasons behind his removal. However, there is no evidence to suggest that his dismissal is related to the Sinopharm vaccine.
China’s new plan to boost Hong Kong IPOs faces major hurdles
Japan Times
China's pledge to encourage leading companies to list in Hong Kong has led to a surge in the stock market, with the Hang Seng Index jumping about 9% last week for its best gain since 2011. However, dealmakers are not yet optimistic and believe that there are other factors that contributed to the market's gains. Despite this, the regulator's comments have sent a signal that Hong Kong can expect more favorable policies to strengthen its position as a finance hub.
Baidu, Tesla agree on mapping deal for FSD in China, sources say
Yahoo US
Baidu has granted Tesla access to its mapping license for data collection on China's public roads, according to two people familiar with the matter. The deal paves the way for Tesla to offer its Full Self Driving (FSD) system in China. As part of the agreement, Baidu will also provide Tesla with its lane-level navigation system. Tesla CEO Elon Musk recently met with Chinese officials to secure approval for the FSD software rollout in China and permission to transfer data overseas. All intelligent driving systems in China must obtain a mapping qualification before they can operate on public roads.
South China Morning Post
Japan's plan to put a non-American astronaut on the moon as part of the Artemis lunar exploration programme could provoke China into accelerating its lunar projects in order to claim a victory over its Asian rival. Japan aims to put an astronaut on the moon in 2028 and a second astronaut in 2032. Both Japan and the US are aiming to stick to this schedule to prevent Beijing from scoring a propaganda coup by landing a Chinese astronaut on the moon before 2028. China has been stepping up its efforts to prepare for future lunar missions.
Manufacturing in Mexico is having its moment. The US is buying in — and so is China
CNN
Mexico's manufacturing sector is emerging as a winner as US supply chains decouple from China. Companies experiencing supply chain snarls and geopolitical uncertainty associated with trade between the US and China are increasingly looking to nearshore production facilities closer to home markets. Mexico's manufacturing sector has an opportunity for long-term success as nearshoring continues and global supply chains are reorganised, according to Alberto Ramos, head of Latin American economics research at Goldman Sachs. Mexico overtook China as the top exporter to the US in 2023, driven by manufacturing, which comprises 40% of Mexico’s economy. US imports from Mexico continued to increase in February, according to data released by the Commerce Department. Meanwhile, Chinese exports to the US were down 20% in 2023, compared to 2022.
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