News That Matters

Tag: China&#039s

Source: Trump administration has cut deal with China's ZTE

Source: Trump administration has cut deal with China's ZTE

Technology
The Trump administration has told Congress that it's reached a deal that would allow Chinese telecommunications giant ZTE Corp. to stay in business, a source familiar with the talks who spoke on condition of anonymity to discuss a confidential matter said Friday. A resolution of the ZTE case could clear the way for the United States to make progress in its high-stakes trade talks with China. But news of the agreement drew immediate fire on Capitol Hill. Under the agreement, ZTE would oust its management team, hire American compliance officers and pay a fine. The fine would come on top of the roughly $ 1 billion ZTE has already paid for selling equipment to North Korea and Iran in violation of U.S. sanctions. In return, the Commerce Department would lift a seven-year ban on ZTE's purchase...
China's defunct space lab hurtling toward Earth for re-entry

China's defunct space lab hurtling toward Earth for re-entry

Technology
China's defunct and reportedly out-of-control Tiangong 1 space station is expected to re-enter Earth's atmosphere sometime this weekend. It poses only a slight risk to people and property on the ground, since most of the bus-size, 8.5-ton vehicle is expected to burn up on re-entry, although space agencies don't know exactly when or where that will happen. Below are some questions and answers about the station, its re-entry and the past and future of China's ambitious space program. ——— WHAT WILL HAPPEN AND HOW GREAT IS THE DANGER? The European Space Agency predicts the station will re-enter the atmosphere between Saturday morning and Sunday afternoon — an estimate it calls "highly variable," likely because the ever-changing shape of the upper atmosphere affects the speed of objects fallin
US Navy says China's military buildup won't stop patrols

US Navy says China's military buildup won't stop patrols

World
U.S. forces are undeterred by China's military buildup on man-made islands in the South China Sea and will continue patrolling the strategic, disputed waters wherever "international law allows us," said a Navy officer aboard a mammoth U.S. aircraft carrier brimming with F-18 fighter jets. Lt. Cmdr. Tim Hawkins told The Associated Press on board the USS Carl Vinson that the Navy has carried out routine patrols at sea and in the air in the region for 70 years to promote security and guarantee the unimpeded flow of trade that's crucial for Asian and U.S. economies. "International law allows us to operate here, allows us to fly here, allows us to train here, allows us to sail here, and that's what we're doing and we're going to continue to do that," Hawkins said Saturday on the flight deck of...
China's new loans in Jan surge to record 2.9 trillion yuan, blow past forecasts

China's new loans in Jan surge to record 2.9 trillion yuan, blow past forecasts

Finance
China's banks extended a record 2.9 trillion yuan ($ 458.3 billion) in new yuan loans in January, blowing past expectations and nearly five times the previous month as policymakers aim to sustain solid economic growth while reining in debt risks.While Chinese banks tend to front-load loans early in the year to get higher-quality customers and win market share, the lofty figure was even higher than the most bullish forecast by economists in a Reuters poll.Net new loans surpassed the previous record of 2.51 trillion yuan in January 2016, which is likely to support growth not only in China but may underpin liquidity globally as major Western central banks begin to withdraw stimulus.Analysts polled by Reuters had predicted new yuan loans of 2 trillion yuan, up sharply from December's 584.4 bil...
Oil tanker burning off China's coast at risk of exploding

Oil tanker burning off China's coast at risk of exploding

World
An oil tanker that caught fire after colliding with a freighter off China's east coast is at risk of exploding and sinking, Chinese state media reported Monday, as authorities from three countries struggled to find its 32 missing crew members and contain oil spewing from the blazing wreck. State broadcaster China Central Television, citing Chinese officials, said none of the 30 Iranians and two Bangladeshis who have been missing since the collision late Saturday had been found as of 8 a.m. Monday. Search and cleanup efforts have been hampered by fierce fires and poisonous gases that have engulfed the tanker and surrounding waters, CCTV reported. The Panama-registered tanker Sanchi was sailing from Iran to South Korea when it collided with the Hong Kong-registered freighter CF Crystal in t...