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After falling 12.2% this year, Hong Kong’s stocks rebounded 2.63% on Tuesday on news that Beijing may mobilize about 2 trillion yuan (US$278 billion) through offshore entities to support beaten-down Chinese stocks.
The European Union will ask its members to screen foreign direct investment (FDIs) and potentially block countries such as China and Russia from getting access to their sensitive technologies in the chip, artificial intelligence (AI) and quantum computing sectors.
Beijing has kept progress of the discussion about building a new gas pipeline from Russia to China slow, as issues such as the gas price, a proposed new branch and a potential partnership in downstream businesses still linger.
The good news, according to Yuan Xin, vice-president of the Population Association of China, is that the reduction in the national headcount this year will be milder due to a cultural preference for having a baby during the Year of the Dragon.
Evidence has accumulated that, despite the United States’ export controls, China’s military-related firms, research centers and universities can still acquire Nvidia’s high-end artificial intelligence (AI) chip. Technology experts say the Biden administration has failed so far to stop small distributors from reselling and smuggling the chips into the Chinese underground markets.
Beijing is worried by news that the Biden administration is conducting a survey of the extent of use of Chinese chips in critical industries in the United States.
A minority political group in Taiwan, which now controls eight key seats in the Legislative Yuan, is demanding reform of the lawmaking body as a precondition for partnership with the ruling Democratic Progressive Party (DPP).