Fifteen dead, four missing in Chongqing floods. Torrential rain causes floods and landslides, disrupting the lives of over 130,000 people in 19 districts. Extreme weather events continue in China.

https://www.theonlinecitizen.com/2023/07/05/torrential-rains-kill-at-least-15-in-southwest-china/

The Philippine Coast Guard accused Chinese patrol vessels of dangerous obstruction in the South China Sea during a mission to assert territorial claims, risking collision. Similar incidents have occurred in the past.

https://www.theonlinecitizen.com/2023/07/05/philippine-coast-guard-accuses-chinese-boats-of-dangerous-manoeuvres/

According to a Beijing insider, the United States should be prepared to expect a different #Countermeasure from #China after America’s restriction on China’s #Technology sector.

https://ept.ms/BarbieUnderFire_CIF

#China’s #Unemployment rate in May reached a record high of 20.8 percent for those aged 16–24. Combined with the record-breaking 11.58 million graduates this year, the pressure on the job market is unprecedented.

https://ept.ms/BarbieUnderFire_CIF

The #Pentagon has issued an update to an existing document regarding movie studios: the Department of Defense will no longer be working with directors who comply with #Beijing’s demands regarding #Movie distribution.

https://ept.ms/BarbieUnderFire_CIF

Although Congress and the White House may talk tough on the #CCP, what’s the evidence U.S. officials are doing anything about it?

Veteran China watcher #MichaelPillsbury shares an action plan to ensure the government keeps its word.
https://ept.ms/NotSeeingRed-OT

US Treasury Secretary Janet Yellen arrived in #China on Thursday for a 4-day visit, a trip that has drawn concerns over the Biden administration’s continued effort to engage #Beijing.

Full story👉https://www.theepochtimes.com/yellen-arrives-in-china-for-talks-as-beijings-unfair-trade-practices-come-under-scrutiny_5377645.html?utm_medium=Social&utm_source=telegram

European Falun Gong Adherents Protest Against CCP Suppression on UN International Day in Support of Victims of Torture READ: https://www.theepochtimes.com/european-falun-gong-adherents-protest-against-ccp-suppression-on-un-international-day-in-support-of-victims-of-torture_5377779.html?utm_medium=Social&utm_source=telegram&utm_campaign=USChinaWatch

China’s New Anti-Espionage Law Poses Risks for Foreign Businesses READ: https://www.theepochtimes.com/chinas-new-anti-espionage-law-poses-risks-for-foreign-businesses_5375242.html?utm_medium=Social&utm_source=telegram&utm_campaign=USChinaWatch

The China Democracy Fund is hoping to protect journalists from Chinese Communists attempting to use legal systems and institutions to delegitimize opponents.

https://rebelne.ws/3XMD3mA

"Dare to fight": #XiJinping tells the Chinese #military to deepen its war planning. He second U.S. cabinet official to visit China in a month, Treasury Secretary Yellen is kicking off a trip to Beijing on Thursday.

https://ept.ms/DareToFight_CIF

Zhou You, an NTD contributor, is trying to rescue his father, who was sentenced to eight years for practicing his spiritual belief, #FalunGong.

Millions of practitioners have been thrown in jail and tortured. #ChinaInFocus has more:
https://ept.ms/USBillCounterChina_CIF

China to ban food imports from 10 Japanese prefectures

China will ban the import of food from 10 Japanese prefectures for safety reasons, customs authorities said on Friday.The nation will also strictly review the documents for food, especially aquatic products, from other parts of Japan, customs said in a statement.It added that it will continuously strengthen the detection and monitoring of radioactive substances to ensure the safety of food imported from Japan.China was the biggest buyer of Japanese seafood exports last year, even though it is among several countries that restrict imports from some Japanese regions because of the nuclear accident. The nation is also the fiercest critic of Japan's planned release of the water saying it threatens marine life and human health. (Reuters)

2023-07-07 10:40:02

Impossible to decouple China, US economies: Yellen

US Treasury Secretary Janet Yellen said on Friday that a decoupling of the Chinese and US economies would be "virtually impossible" and would destabilise global markets, in comments made while on a visit to Beijing packed with talks with officials and businesses.Yellen's four-day trip is her first to China as treasury chief, and she is the second high-ranking US official to visit recently after Secretary of State Antony Blinken last month.The United States has in recent months said it is seeking to "de-risk" from China by limiting the world's second-largest economy's access to advanced technology deemed crucial to Washington's national security. It has blacklisted a number of Chinese companies to prevent them from accessing the most advanced chips while pushing its allies to follow suit.Yellen on Friday stressed that Washington was not seeking a "wholesale separation of our economies"."We seek to diversify, not to decouple. A decoupling of the world's two largest economies would be destabilising for the global economy," Yellen told a meeting with representatives of US businesses at a session hosted by the American Chamber of Commerce in Beijing."And it would be virtually impossible to undertake."During a meeting with Premier Li Qiang in the capital, Yellen said the US is seeking a healthy competition with the nation based on fair rules that benefit both countries, not a "winner-take-all" approach.In prepared remarks, Yellen told Li that she hoped her visit would spur more regular channels of communication between the world's two largest economies, adding that both countries had a duty to "show leadership" on global challenges such as climate change.Earlier, Beijing has struck an optimistic tone about the visit, with the Finance Ministry saying on Friday that it would serve to "strengthen communication and exchange between the two countries"."The nature of China-US economic and trade relations is mutually beneficial and win-win, and there is no winner in a trade war or 'decoupling and breaking chains'," a ministry official said in a statement.On Friday morning, Yellen had a "substantive conversation" with her previous counterpart, former Vice Premier Liu He, as well as the outgoing governor of China's central bank, Yi Gang, a US Treasury official said."They discussed the global economic outlook as well as the respective economic outlooks for the United States and China," the official added. (Agencies)

2023-07-07 10:49:56 (2)

China banks downgrade 'due to pessimistic assumptions'

Goldman Sachs' downgrade of some major Chinese lenders to "Sell" ratings is based on "pessimistic assumptions," China's Securities Times said in an editorial on Friday, as worries over the banking sector deepen amid a rocky economy."It is not advisable to be bearish on the fundamentals of Chinese banks based on pessimistic assumptions, and to a large extent there is a misinterpretation," the newspaper said.Goldman said in a report on Wednesday that it had downgraded Agricultural Bank of China (AgBank) from "Neutral" to "Sell", while cutting Industrial and Commercial Bank of China (ICBC) and Industrial Bank from "Buy" to "Sell".Chinese bank shares listed in Hong Kong tumbled after the report was released.Investors are concerned about Chinese banks' exposure to local government debt, earnings risks stemming from such debt, and diverging fortunes among individual banks, Goldman said in the report.Chinese policymakers are stepping up efforts to boost infrastructure investment and are tackling hidden local government debts, the Securities Times said. (Reuters)

2023-07-07 11:04:30

FTU marks anniversary of Marco Polo Bridge Incident

The Federation of Trade Unions on Friday held a rally outside the Japanese consulate in Central to mark the 86th anniversary of the Marco Polo Bridge Incident. The group called on the Hong Kong authorities to better educate people about the incident in 1937, which is considered to have been the start of Japan's full-scale invasion of China. FTU lawmaker Bill Tang said people should also be taught to cherish hard-won peace. "We also hope the SAR government and the education sector can do their job to educate Hong Kong people about the history of mainland China and Hong Kong, especially the horrific history of the war of resistance against Japan," he said. "They should also promote the epic events of war heroes, to let people know that today's peace has been hard-won." Meanwhile, representatives from the Action Committee for Defending the Diaoyu Islands marched to the consulate on Friday morning, demanding an apology and compensation from Japan for its invasion of China.

2023-07-07 13:02:28