Latest Beijing News

Luckin, a Starbucks rival in China, rises in US stock debut

May. 18, 2019 4:43 AM EDT

NEW YORK (AP) — Shares of Luckin Coffee, a fast-growing rival to Starbucks in China, rose 20% in their U.S. stock market debut Friday. The Chinese company, which opened its first store in Beijing less than two years ago, has 2,370 locations and plans to surpass the 3,700 stores Starbucks has in China by...

Q&A: Is there a way out of the US-China trade fight?

May. 18, 2019 12:27 AM EDT

WASHINGTON (AP) — The United States and China have been trading punches over trade for months. And the slugfest has only intensified this month. Claiming that the Chinese had reneged on earlier commitments in trade negotiations, the United States on May 10 more than doubled tariffs on $200 billion in...

Iran's top diplomat presses efforts to save nuclear deal

May. 17, 2019 11:03 PM EDT

TEHRAN, Iran (AP) — Iran's foreign minister traveled Friday to China on his Asian tour aimed at keeping world markets open to Tehran amid an intense sanctions campaign from the U.S. as tensions across the Persian Gulf remain high. Concerns about a possible conflict have flared since the White House ordered...

China, Iran foreign ministers meet amid Middle East tensions

May. 17, 2019 10:56 PM EDT

BEIJING (AP) — Iran's foreign minister praised his country's relations with China during talks with his Chinese counterpart in Beijing amid heightened tensions and efforts by Tehran to keep its world markets open following the U.S. withdrawal from the Iran nuclear deal. Mohammad Javad Zarif met Frriday...

Luckin, a Starbucks rival in China, jolts higher in US debut

May. 17, 2019 12:03 PM EDT

NEW YORK (AP) — Luckin Coffee, a fast-growing rival to Starbucks in China, jolted higher in its U.S. stock market debut Friday. The Chinese company, which opened its first store in Beijing less than two years ago, has 2,370 locations and plans to surpass the 3,700 stores Starbucks has in China by the end...

I.M. Pei's legacy stretched from the West to the East

May. 17, 2019 6:31 AM EDT

BEIJING (AP) — The legacy of American architect I.M. Pei stretches from west to east, from the Louvre museum to his native China, where he helped fuse tradition and modernity as the country opened up after the Cultural Revolution. Pei, who died earlier this week at the age of 102, added elegance to...

Asian shares mixed as Huawei sanctions stir trade fears

May. 16, 2019 11:27 PM EDT

SINGAPORE (AP) — Asian stocks were mixed on Friday amid worries that U.S. economic sanctions on Huawei would cast a pall on trade negotiations with China. Hong Kong's Hang Seng shed 0.4% to 28,161.89 while Japan's benchmark Nikkei 225 jumped 1.6% to 21,391.53. The Kospi in South Korea added 0.2% to...

Economic sanctions on Huawei could backfire on US firms

May. 16, 2019 6:53 PM EDT

The Trump administration's decision to restrict all U.S. technology sales to Chinese telecommunications powerhouse Huawei for national security reasons doesn't just up the ante in the China trade war. It's also bound to hurt U.S. suppliers and accelerate Beijing's drive toward greater technological independence....

Markets Right Now: US stocks rise for the 3rd day in a row

May. 16, 2019 4:07 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks marched higher on Wall Street for the third straight day, erasing most of the plunge they took at the start of the week on worries about the worsening trade fight between China and the U.S. Technology stocks,...

China formally arrests 2 Canadians in case linked to Huawei

May. 16, 2019 11:12 AM EDT

BEIJING (AP) — China has formally arrested two Canadian citizens it is believed to be holding to pressure Canada into releasing a Chinese telecoms executive, bringing the two men closer to trial on vaguely defined state security charges. Chinese foreign ministry spokesman Lu Kang said Thursday that Michael...