BANGKOK — China announced Tuesday it is banning exports to the United States of gallium, germanium, antimony and other key high-tech materials with potential military applications, as a general principle, lashing back at U.S. limits on semiconductor-related exports. The Chinese Commerce Ministry announced the move after the Washington expanded its list of Chinese companies subject to export controls on computer chip-making equipment, software and high-bandwidth memory chips. Such chips are needed for advanced applications. The ratcheting up of trade restrictions comes as President-elect Donald Trump has been threatening to sharply raise tariffs on imports from China and other countries, potentially intensifying simmering tensions over trade and technology. China’s Foreign Ministry also issued a vehement reproof. “China has lodged stern protests with the U.S. for its update of the semiconductor export control measures, sanctions against Chinese companies, and malicious suppression of China’s technological progress,” Lin Jian, a Chinese Foreign Ministry spokesperson, said in a routine briefing Tuesday. “I want to reiterate that China firmly opposes the U.S. overstretching the concept of national security, abuse of export control measures, and illegal unilateral sanctions and long-arm jurisdiction against Chinese companies,” Lin said. The minerals sourced in China are used in computer chips, cars and other products China said in July 2023 it would require exporters to apply for licenses to send to the U.S. the strategically important materials such as gallium and germanium. In August, the Chinese Commerce Ministry said it would restrict exports of antimony, which is used in a wide range of products from batteries to weapons, and impose tighter controls on exports of graphite. Such minerals are considered critical for national security. China is a major producer of antimony, which is used in flame retardants, batteries, night-vision goggles and nuclear weapon production, according to a 2021 U.S. International Trade Commission report. The limits announced by Beijing on Tuesday also include exports of super-hard materials, such as diamonds and other synthetic materials that are not compressible and extremely dense. They are used in many industrial areas such as cutting tools, disc brakes and protective coatings. The licensing requirements that China announced in August also covered smelting and separation technology and machinery and other items related to such super-hard materials. China is the biggest global source of gallium and germanium, which are produced in small amounts but are needed to make computer chips for mobile phones, cars and other products, as well as solar panels and military technology. China says it’s protecting itself from US trade restrictions After the U.S. side announced it was adding 140 companies to a so-called “entity list” subject to strict export controls, China’s Commerce Ministry protested and said it would act to protect China’s “rights and interests.” Nearly all of the companies affected by Washington’s latest trade restrictions are based in China, though some are Chinese-owned businesses in Japan, South Korea and Singapore. Both governments say their respective export controls are needed for national security. China’s government has been frustrated by U.S. curbs on access to advanced processor chips and other technology on security grounds but had been cautious in retaliating, possibly to avoid disrupting China’s fledgling developers of chips, artificial intelligence and other technology. Various Chinese industry associations issued statements protesting the U.S. move to limit access to advanced chip-making technology. The China Association of Automobile Manufacturers said it opposed using national security as a grounds for export controls, “abuse of export control measures, and the malicious blockade and suppression of China.” “Such behavior seriously violates the laws of the market economy and the principle of fair competition, undermines the international economic and trade order, disrupts the stability of the global industrial chain, and ultimately harms the interests of all countries,” it said in a statement. The China Semiconductor Industry Association issued a similar statement, adding that such restrictions were disrupting supply chains and inflating costs for American companies. “U.S. chip products are no longer safe and reliable. China’s related industries will have to be cautious in purchasing U.S. chips,” it said. The U.S. gets about half its supply of both gallium and germanium metals directly from China, according to the U.S. Geological Survey. China exported about 23 metric tons (25 tons) of gallium in 2022 and produces about 600 metric tons (660 tons) of germanium per year. The U.S. has deposits of such minerals but has not been mining them, though some projects underway are exploring ways to tap those resources. The export restrictions have had a mixed impact on prices for those critical minerals, with the price of antimony more than doubling this year to over $25,000 per ton. Prices for gallium, germanium and graphite also have mostly risen.HAMDEN, Conn. (AP) — Amarri Tice scored 20 points and Paul Otieno added six in the overtime as Quinnipiac defeated Hofstra 75-69 on Sunday. Tice added 11 rebounds and three blocks for the Bobcats (6-7). Otieno scored 17 points and added 14 rebounds. Jaden Zimmerman shot 4 of 8 from the field, including 1 for 4 from 3-point range, and went 1 for 5 from the free-throw line to finish with 10 points. Jean Aranguren led the Pride (8-5) in scoring, finishing with 23 points, eight rebounds, six assists and three steals. Cruz Davis added 14 points and two steals for Hofstra. Michael Graham had eight points, 13 rebounds and three blocks. Quinnipiac entered halftime up 36-32. Tice paced the team in scoring in the first half with 10 points. Quinnipiac was outscored by four points in the second half and the teams finished regulation tied 63-63 after two free throws by Aranguren with 38 seconds remaining. Otieno shot 2 of 3 from the field on the way to their six points in the overtime. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .BOSTON , Dec. 13, 2024 /PRNewswire/ -- The China Fund, Inc. (NYSE: CHN) (the "Fund") announced today that the Fund's annual stockholder meeting (the "Meeting") will be scheduled for Thursday, March 13, 2025 , via a virtual forum at 11:00 a.m. ET . Stockholders of record as of January 15, 2025 will be entitled to notice of, and to attend and vote at, the Meeting. The notice for the Meeting will be mailed to shareholders on or about February 10, 2025 . The Fund is a closed-end management investment company with the objective of seeking long-term capital appreciation by investing primarily in equity securities (i) of companies for which the principal securities trading market is in the People's Republic of China (" China "), or (ii) of companies for which the principal securities trading market is outside of China , or constituting direct equity investments in companies organized outside of China , that in both cases derive at least 50% of their revenues from goods and services sold or produced, or have at least 50% of their assets, in China . While the Fund is permitted to invest in direct equity investments of companies organized in China , it presently holds no such investments. Shares of the Fund are listed on the New York Stock Exchange under the ticker symbol "CHN". The Fund's investment manager is Matthews International Capital Management, LLC. For further information regarding the Fund and the Fund's holdings, please call (888)-CHN-CALL (246-2255) or visit the Fund's website at www.chinafundinc.com . View original content: https://www.prnewswire.com/news-releases/the-china-fund-inc-announces-date-of-annual-meeting-of-stockholders-302331705.html SOURCE The China Fund, Inc.
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BOSTON , Dec. 13, 2024 /PRNewswire/ -- The China Fund, Inc. (NYSE: CHN) (the "Fund") announced today that the Fund's annual stockholder meeting (the "Meeting") will be scheduled for Thursday, March 13, 2025 , via a virtual forum at 11:00 a.m. ET . Stockholders of record as of January 15, 2025 will be entitled to notice of, and to attend and vote at, the Meeting. The notice for the Meeting will be mailed to shareholders on or about February 10, 2025 . The Fund is a closed-end management investment company with the objective of seeking long-term capital appreciation by investing primarily in equity securities (i) of companies for which the principal securities trading market is in the People's Republic of China (" China "), or (ii) of companies for which the principal securities trading market is outside of China , or constituting direct equity investments in companies organized outside of China , that in both cases derive at least 50% of their revenues from goods and services sold or produced, or have at least 50% of their assets, in China . While the Fund is permitted to invest in direct equity investments of companies organized in China , it presently holds no such investments. Shares of the Fund are listed on the New York Stock Exchange under the ticker symbol "CHN". The Fund's investment manager is Matthews International Capital Management, LLC. For further information regarding the Fund and the Fund's holdings, please call (888)-CHN-CALL (246-2255) or visit the Fund's website at www.chinafundinc.com . View original content: https://www.prnewswire.com/news-releases/the-china-fund-inc-announces-date-of-annual-meeting-of-stockholders-302331705.html SOURCE The China Fund, Inc. Stay Informed: Subscribe to Our Newsletter Today10,357 Shares in LENZ Therapeutics, Inc. (NASDAQ:LENZ) Acquired by GSA Capital Partners LLP
EAST RUTHERFORD, N.J. (AP) — Snapping a franchise-record 10-game losing streak, winning for the first time at home this season and ending the Indianapolis Colts' slim playoff hopes Sunday didn't salvage the season for the New York Giants. The main positive in the 45-33 win that Drew Lock led with four touchdown passes and a late TD run was the Giants (3-13) got to walk off the field with smiles for the first time in months after a season of misery that will could lead to major changes. Another factor from the win: New York no longer has control of the No. 1 overall pick in the draft. Giants coach Brian Daboll, who has had two straight losing seasons following a playoff berth in 2022 in his first year, said that he was happy the team got a chance to celebrate after losing eight straight at MetLife Stadium. “Those guys put a lot into it. They come out, they grind every day. They have good attitudes,” Daboll said. “It’s never easy when you when are losing. But I’m proud of the character and all the people in the building, and I’m mostly happy for them.” Lock, who threw two pick-6s in the loss to Atlanta a week ago, sandwiched touchdown passes of 31 and 59 yards to Malik Nabers around TD passes of 32 yards to Darius Slayton and 5 yards to Wan'Dale Robinson in leading the Giants (3-13) to their first win since beating Seattle on Oct. 6. “I've won a lot in my life,” Slayton said. "I wouldn’t say I ever forget the feeling of winning, but, you know, obviously it’s nice to get that feeling back today.” Ihmir Smith-Marsette had a 100-yard return on the second-half kickoff on a day the league's worst offense set a season high for points. Jonathan Taylor scored on runs of 3 and 26 yards for Indianapolis (7-9), while Joe Flacco, subbing for the injured Anthony Richardson, threw touchdown passes of 13 yards to Alec Pierce and 7 yards to Michael Pittman, the last bringing the Colts within 35-33 with 6:38 left in the fourth quarter. Lock, who finished 17 of 23 for 309 yards, clinched the game by leading a nine-play, 70-yard drive that he capped with a 5-yard run. “It’s kudos to him,” said Nabers, who now has 104 catches for 1,140 yards and six touchdowns. “He looked over the film, found some things that he could get better on and did all that through the week, and it showed how good he can be.” The 45 points were the most for New York since putting up 49 in a 52-49 loss to the Saints in 2015. It’s the Giants most in a win since a 45-14 rout against Washington in 2014 and most at home since a 52-27 win against the Saints in 2012. The No. 6 overall pick in the draft, Nabers finished with seven catches for a career-high 171 yards. “That’s why we drafted him, where we drafted him,” Daboll said. “I’ve been asked about it since training camp and I think the response has been, ‘He’s a pretty good football player.’” Flacco was 26 of 38 for 330 yards with two interceptions, the second by rookie Dru Phillips shortly after Lock's TD run. Taylor, who rushed for 218 yards in a win over Tennessee last week, finished with 125 yards on 32 carries. Pierce had six catches for 122 yards. The Colts came into the game needing to win their final two games and also get help to make the playoffs. “We had something to play for today and obviously we didn’t get it done," Flacco said. The Colts haven't made the playoffs since posting an 11-5 record in 2020. “It's hard to explain,” said Colts coach Shane Steichen, who led the team to a 9-8 record in his first season in 2023. “We had to play a complete game. We haven’t done it all year. We have to be on the same page, and to go out there like that is obviously not good enough.” Nabers and running back Tyrone Tracy become the third pair of rookies to have more than 1,000 yards from scrimmage in the same season. The previous duo was running back Reggie Bush and receiver Marques Colston of the Saints in 2006. Colts: Richardson was inactive with foot and back injuries sustained against Tennessee. Giants: DL Armon Watts (knee) was ruled out in the first half. Colts: Finish the regular season by hosting Jacksonville. Giants: At Philadelphia to face Saquon Barkley and the Eagles.Mutual of America Capital Management LLC Cuts Stake in United Bankshares, Inc. (NASDAQ:UBSI)