中國770億美元的銀行市值下跌, 顯示誰會為救援付出了代價

Recently Yahoo News on-line reported the following:

China’s $77 Billion Bank Rout Shows Who Pays Price for Rescues

Bloomberg News

Tue, July 11, 2023 at 2:00 a.m. PDT

(Bloomberg) -- Investors in Chinese bank stocks are getting a painful reminder of who’s likely to bear the brunt of government efforts to shore up the embattled real estate sector and revive economic growth.

A Bloomberg Intelligence stock index of Chinese lenders has tumbled 14% from this year’s high in May, erasing $77 billion of market capitalization and leaving the industry’s shares on the cusp of their lowest-ever valuations.

Already under pressure from China’s monetary loosening and tepid demand, banks are facing renewed scrutiny after authorities asked the sector to extend debt relief to developers as the nation’s housing crisis continues. Some Wall Street analysts also have turned cautious, with Goldman Sachs Group Inc. taking a bearish view on the industry, a move that drew a rare rebuttal from a state-run Chinese newspaper last week.

The Bloomberg Intelligence gauge of Chinese bank stocks is trading at 0.27 times book value, just a whisker away from late October’s record low. That compares with 0.9 times for an index of global peers. The China gauge was little changed on Tuesday after registering mild gains early in the trading session.

The extension of relief measures for developers “will likely provide more of a sentiment boost to investors without fundamentally easing investors’ concern on commercial banks’ credit risk on troubled developers,” Citigroup Inc. analysts including Griffin Chan and Judy Zhang wrote in a note. Banks with high mortgage exposure could be more vulnerable, they added.

Regulators said late Monday they have asked banks to ease terms for real estate firms by encouraging negotiations to extend outstanding loans, a move that aims to ensure the delivery of homes still under construction. Some outstanding loans — including trust loans due by the end of 2024 — will be given a one-year repayment extension.

Chinese lenders’ risk exposure to property amounted to about 20 trillion yuan ($2.8 trillion) as of the end of last year, including loans and bonds, accounting for about 5% of their total assets, according to estimates by China International Capital Corp. analysts including Lin Yingqi. Meantime, the non-performing loan ratio of real estate debt was about 4% at that time, they added.

The sector also stands conspicuously at the receiving end of risks from the $9 trillion debt pile among China’s local government financing vehicles as an economic recovery falters. Worries about their balance-sheet health have grown after Bloomberg News reported that top state lenders are offering LGFVs loans with ultra-long maturities and temporary interest relief to prevent a credit crunch.

Goldman estimates that 34 trillion yuan of local government debt sits on the balance sheets of banks it covers. These lenders’ combined assets account for 61% of the banking system’s total, according to the brokerage.

Chinese commercial banks’ net interest margin slid to a record low of 1.74% in March, according to data from the National Financial Regulatory Commission, below the 1.8% threshold that analysts and industry practitioners deem necessary to maintain reasonable profitability.

The lenders have seen their margins squeezed as they were urged by authorities to provide cheap loans to small businesses and home buyers to help prop up the economy. Loan demand from businesses and households, however, has weakened as a property bubble deflates and companies scale back investment.

“Since it’s hard for developers to improve their liquidity, banks still have to suffer the high possibility that most of their lending could turn into bad loans,” said Shen Meng, a director with Beijing-based investment bank Chanson & Co. “The latest policy can only help banks postpone their risk exposure.”

It’s a different picture in credit markets, where Chinese lenders’ bonds have been a sanctuary for investors even as the nation’s housing crisis unfolded and during the recent global banking turmoil.

Yield premiums over Treasuries for Chinese investment-grade dollar bonds, which are dominated by banks and financial institutions, reached a three-year low late last month and have since been hovering near the level, according to a Bloomberg index.

“Chinese bank bonds trade at very tight levels and inside of global banks as their debt is used as a proxy for the sovereign,” said Pri De Silva, a Bloomberg Intelligence analyst. “All banks are majority government-owned anyway and are crucial to public policy in China. So, they are basically treated as an extension of the central government.”

--With assistance from Dorothy Ma.

Translation

（彭博社）- 中國銀行股的投資者正在痛苦地提醒自己，在政府提振陷入困境的房地產行業和重振經濟增長的努力中，誰可能首當其衝。

彭博資訊 (Bloomberg Intelligence) 的中國銀行股指數較 5 月份的今年高點下跌了 14%，市值蒸發了 770 億美元，使該行業的股價處於歷史最低估值的分隔線。

 由於中國房地產危機仍在持續，當局要求銀行業擴大對地產開發商的債務減免，銀行已經面臨中國貨幣寬鬆和需求不溫不火的壓力，並面臨著新的審查。 一些華爾街分析師也變得謹慎起來，高盛集團對該行業持悲觀態度，此舉上週引起了中國一家國營報紙罕見的反駁。

彭博資訊 (Bloomberg Intelligence) 定中國銀行股的市盈率為 0.27 倍，距離 10 月底的歷史低點僅一步之遙。 相比之下，全球同行指數為 0.9 倍。 中國指數在交易時段早些時候小幅上漲後，週二幾乎沒有變化。

花旗集團分析師Griffin Chan和 JudyZhang 在一份報告中寫道，延長對開發商的救助措施 “可能會更多地提振投資者的情緒，但不會從根本上緩解投資者對商業銀行對陷入困境的開發商的信貸風險的擔憂” 。 他們補充說，抵押貸款較高的銀行可能更容易受到風險。

監管機構週一晚間表示，他們已要求銀行通過鼓勵談判, 延長未償貸款來放寬對房地產公司的條款，此舉旨在確保仍在建設中的房屋可交付。 一些未償還貸款 -包括 2024 年底到期的信託貸款 - 將獲得還款延期一年。

據China International Capital Corp. 的分析師包括 Lin Yingqi 估計，截至去年底，中國銀行的房地產風險敞口約為20萬億元人民幣（2.8萬億美元），其中包括貸款和債券，約佔其總資產的5%。 與此同時，他們補充說，當時房地產債務的不良貸款率約為4%。

隨著經濟復甦步履蹣跚，該行業也明顯成為中國地方政府融資平台(LGFV)9萬億美元債務的承受風險的一端。 彭博新聞社報導稱，頂級國有貸款機構正在向地方政府融資平台提供超長期貸款和臨時利息減免，以防止信貸緊縮，之後，人們對其資產負債表健康狀況的擔憂加劇。

高盛估計，受其涵蓋的銀行資產負債表上, 是有34萬億元的地方政府債務。 據券商稱，這些貸方的總資產佔銀行系統總資產的 61%。

國家金監會數據顯示，3月份中國商業銀行淨息差跌至歷史新低1.74%，低於分析師和行業從業者認為維持合理盈利能力所需的1.8%門檻。

由於當局敦促貸款機構向小企業和購房者提供廉價貸款以幫助支撐經濟，因此貸款機構的利潤受到擠壓。 然而，隨著房地產泡沫破滅和企業縮減投資，企業和家庭的貸款需求有所減弱。

北京投資銀行Chanson & Co董事 Shen Meng 表示， “由於開發商很難改善流動性，銀行仍面臨大部分貸款轉化為不良貸款的可能性很高;” “最新政策只能幫助銀行推遲風險曝露。”

信貸市場的情況則不同，即使在中國房地產危機爆發以及最近的全球銀行業動盪期間，中國銀行的債券一直是投資者的避難所。

彭博指數顯示，由銀行和金融機構主導的中國投資級美元債券, 相對於美國國債的收益率溢價上個月末觸及三年低點，此後一直徘徊在該水平附近。

彭博資訊分析師 Pri De Silva 表示： “中國銀行債券的交易水平非常緊貼並是在全球銀行內部，因為它們的債務被用作主權的代表。” “無論如何，所有銀行的多數股權都是政府所有，對中國的公共政策至關重要。 因此，它們基本上被視為中央政府的延伸。”

              So, China’s banks are asked to extend debt relief to developers as the nation’s housing crisis continues. Lenders have been urged by authorities to provide cheap loans to small businesses and home buyers to help prop up the economy. Chinese commercial banks’ net interest margin slides to a record low that will affect their ability to maintain reasonable profit. Chinese banks are now under pressure.

Note:

LGFVs (地方政府融資平台)were originally established to come around a ban on municipal authorities borrowing from banks or selling bonds directly in the market. The money they raise is spent directly on things like infrastructure and state welfare projects that can take a long time to complete and often have low returns.

``The thumb emoji is to agree'', Canadian court ordered farmer to pay 11 million yen for breach of contract

 Recently CNN.co.jp reported the following:

「親指の絵文字は同意」、農家に契約不履行で１１００万円の支払い命令　カナダ裁判所

2023.07.08 Sat posted at 12:48 JST

ニューヨーク（ＣＮＮ） カナダの農家がテキストメッセージで送られてきた購入契約書の写真に親指を立てる絵文字で返信したものの、作物を納入しなかった問題を巡る裁判で、カナダの裁判所は８日までに、当事者間で意思の合致があったとして、農家に契約不履行で８万２０００ドル（約１１００万円）の支払いを命じた。

サスカチュワン州の裁判所の文書によると、有限会社サウスウエスト・ターミナル（ＳＷＴ）の購買担当者は２０２１年３月、供給業者に対して１ブッシェル１７ドルで亜麻の購入を希望する旨を記したテキストメッセージを送信。納入時期については同年１０～１２月を希望した。

ＳＷＴは農家のクリス・アクター氏らと電話で話した後、アクター氏が１ブッシェル１７ドルで計８６メートルトンの亜麻を売却し、１１月に納入するという内容の契約書の草稿を作成した。

ＳＷＴの代理人は契約書に署名した上で、「亜麻の契約を確認してください」とのメッセージを添えた契約書の写真を携帯電話でアクター氏に送信した。

法廷文書によると、これに対しアクター氏は親指を立てる絵文字で応じたという。

しかし、アクター氏が１１月に亜麻を納入することはなかった。１１月までに亜麻の価格は１ブッシェル４１ドルに達していた。

ＳＷＴの代理人は法廷文書の中で、アクター氏とは他に少なくとも４回、テキストメッセージで契約を交わしていたと説明。今回の唯一の違いは、アクター氏が「ＯＫ」などの文言ではなく、親指を立てる絵文字で返信したことだと述べた。

一方、アクター氏は「親指を立てる絵文字は単に契約書を受け取ったことを確認したもので、契約条件への同意を確認したわけではない」などと主張した。

裁判所の判事は、「少なくとも口頭で」合意が交わされたように見えると指摘。「私の意見では、すべての状況を考慮すると、絵文字は単に契約書を受け取ってこれから検討するという意味ではなく、亜麻に関する契約への同意を表している。すべての背景を知る合理的な観察者であれば、当事者間で意思の合致があったとの客観的な理解に至るだろう」との判断を示した。

判事はアクター氏に対し、８万２０００ドル及び利子、亜麻の納入不履行に伴う費用の支払いを命じた。

ＣＮＮは両当事者にコメントを求めているが、今のところ回答はない。

Translation

New York (CNN) A Canadian farmer who gave a thumbs-up emoji to a photo on a purchase contract sent by text message but failed to deliver his crops was ordered by a Canadian court on the 8th to pay a farmer $82,000 (about 11 million yen) for breach of contract, as there was agreement between the parties.

According to Saskatchewan court documents In March 2021, a purchasing manager at Southwest Terminals (SWT) Ltd. sent a text message to a supplier wishing to purchase flax for $17 a bushel. As for the delivery date, from October to December of the same year was hoped.

After speaking on the phone with farmer Chris Achter and others, SWT drafted a contract under which Achter would sell 86 metric tons of flax at $17 a bushel, with delivery in November.

A representative for SWT signed the contract and sent a photo of the contract to Achter on his mobile phone with the message, "Please confirm the flax contract."

According to court documents, Achter responded with a thumbs-up emoji.

But Achter did not deliver flax in November. By November, flax prices had reached $41 a bushel.

A spokesperson for SWT said in court documents that it had made at least four other previous text-message agreements with Achter. The only difference this time, he said, was that Mr. Achter responded with a thumbs-up emoji instead of saying "OK."

On the other hand, Achter said, “The thumbs-up emoji simply confirms receipt of the contract and does not confirm acceptance of the terms of the contract.”

A court judge said an agreement appeared to have been reached "at least verbally." He explained is judgment that "In my opinion, all things considered, the pictograms represent acceptance of the contract on flax, rather than simply receiving and considering the contract. A reasonable observer with all the context would come to an objective understanding that there was a mutual agreement between the parties".

The judge ordered Mr. Achter to pay $82,000 plus interest and costs associated with failing to deliver the flax.

CNN had reached out to both parties for comment, but so far there was no response.

              So, a response with a thumbs-up emoji to a contract in the mobile phone could represent acceptance of a contract. So, be careful when using the thumbs-up emoji.

FDA fully approves first new drug to slow Alzheimer's disease

Recently CNN News on-line reported the following:

アルツハイマー病の進行を遅らせる初の新薬、米ＦＤＡが完全承認

2023.07.07 Fri posted at 18:02 JST

（ＣＮＮ） 米食品医薬品局（ＦＤＡ）は６日、アルツハイマー病の進行を遅らせる効果が実証された初の新薬「レカネマブ」を完全承認した。

高齢者の医療保険を管轄するメディケア・メディケイド・サービスセンター（ＣＭＳ）は同日、レカネマブの医療保険適用範囲を拡大すると発表した。これで初期のアルツハイマー病と診断された推定１００万人が保険適用の対象となる。

ＦＤＡ医薬品評価研究センターは「アルツハイマー病の患者にとって安全で治療効果があることが、確認試験で証明された」と発表した。

レカネマブはエーザイとバイオジェンが共同開発した新薬で、アルツハイマー病に関連して脳にたまったアミロイド斑が取り除かれるという証拠に基づき、今年１月に迅速承認されていた。しかし保険適用に関するＣＭＳの当初の判断のために、広範には普及していなかった。保険適用前の負担額は年間２万６５００ドル（約３８０万円）に上る。

「この治療薬が手元にありながら、いきなり『あなたにはまだ使えない』とメディケアに言われていた」。５０代前半で若年性アルツハイマーと診断されたジョー・モントミニーさん（５９）はそう語る。「保険でカバーされることがものすごく重要だ。治療を受けられることは素晴らしいけれど、２万６０００ドルを払うゆとりはない」

レカネマブの使用が承認されたのは、軽度の認知機能障害や軽度の認知症状があり、脳のアミロイド斑が確認された初期のアルツハイマー病患者のみ。コロンビア大学の専門家によると、米国で現在アルツハイマー病と診断されている６００万人あまりのうち、６分の１程度と推定される。

アルツハイマー病が進行した患者には効果がない可能性があり、安全上のリスクが高まる可能性もあるという。

たとえ効果があったとしても、これは治療薬ではない。１８カ月の臨床試験では、認知機能の悪化が２７％抑制されることが示された。

Translation

(CNN) The U.S. Food and Drug Administration (FDA) on Monday granted full approval to Lecanemab, the first new drug proven to slow the progression of Alzheimer's disease.

The Centers for Medicare and Medicaid Services (CMS), which oversaw medical insurance for the elderly, announced on the same day that it would expand medical insurance coverage for Lecanemab. With this, an estimated 1 million people diagnosed with early-stage Alzheimer's disease now had insurance coverage.

The FDA's Center for Drug Evaluation and Research said in a statement that "confirmatory studies have shown that it is safe and effective for patients with Alzheimer's disease."

Lecanemab, a new drug co-developed by Eisai and Biogen, received accelerated approval in January this year based on evidence that it could clear brain amyloid plaques associated with Alzheimer's disease. However, due to CMS's initial judgment on insurance coverage, it had not been widely adopted. The amount to be borne before insurance application amounted to $26,500 a year (about 3.8 million yen).

Joe Montminy (ジョー・モントミニ), 59 who was diagnosed with early-onset Alzheimer's in his early 50s, said this "While this drug is on hand, and suddenly Medicare said, 'You can't use it yet.'". "It's very important to have insurance coverage. It's great to have treatment, but I can't afford $26,000."

Lecanemab was only approved for use in early Alzheimer's disease patients with mild cognitive impairment, mild cognitive symptoms, and confirmed amyloid plaques in the brain. According to Columbia University experts it was estimated that it would be about one-sixth of the more than 6 million people currently diagnosed with Alzheimer's disease in the United States.

It was said that it might not be effective in patients with advanced Alzheimer's disease and might pose a safety risk.

Even if it worked, this was not a cure. An 18-month clinical trial showed a 27% reduction in cognitive deterioration.

              So, although clinical trial of this drug showed merely a 27% reduction in cognitive deterioration, it is good news already.

一座陷入困境的新發電廠讓約旦欠中國債務，引發對北京影響力的擔憂 (2/2)

Recently Yahoo News on-line reported the following:

A troubled new power plant leaves Jordan in debt to China, raising concerns over Beijing's influence (2/2)

Wed, July 5, 2023 at 6:36 a.m. PDT

(continue)

The investment was part of China’s wider push into an Arab world hungry for foreign investment, experts say. The money for large infrastructure projects came with few political strings attached.

“China doesn’t bring with it the baggage of the United States in that we actually have some concern about democratic processes, transparency, corruption,” said David Schenker, a former U.S. assistant secretary of state for Middle East policy. “For authoritarian states, there’s some appeal in China.”

As talk grew of American unreliability, China turned to acquiring strategic assets in the Middle East, even in economically troubled states. It bought lots of Iraqi oil, tendered a port in northern Lebanon and poured money into President Abdel-Fattah el-Sissi’s new capital in Egypt.

With Syrian President Bashar Assad in 2017 gaining the upper hand in his country’s civil war, China had an interest in investing in the Attarat project in neighboring Jordan as a springboard, anticipating a Syrian reconstruction boom that could unlock billions of dollars in investments, experts say.

Under their 30-year power purchase deal, Jordan’s state-run electricity company will have to buy electricity from the now effectively Chinese-led Attarat at an exorbitant rate that means the Jordanian government would lose $280 million annually, the treasury estimated. To cover the payments, Jordan would have to raise electricity prices for consumers by 17%, energy experts said — a severe blow to an economy already saddled with debt and inflation.

The extent of losses to China appalled the Jordanian government. Jordan’s Ministry of Energy launched international arbitration against Attarat Power Co. in 2020 “on the grounds of gross unfairness.”

When asked why Jordan had agreed to such a lopsided contract to begin with, Jordan’s Ministry of Energy declined to comment, as did the National Electricity Co. As of June, hearings were being held at an arbitration tribunal of the Paris-based International Chamber of Commerce.

Musa Hantash, a geologist on the parliamentary energy committee, described the deal as the natural outcome of corruption and a lack of technical expertise.

“It’s very difficult to convince these big companies to invest in Jordan. There are things to help certain people make a profit,” he said, without elaborating.

American officials portrayed the Attarat contract as a case of Beijing’s “ debt trap diplomacy.”

The Chinese Foreign Ministry declined to comment on the Attarat project. But it defended Beijing’s investment in developing countries, denying allegations it ensnares partners in debt and arguing that China never compels “others to borrow from us forcibly.”

“We never attach any political strings to loan agreements,” the ministry said, urging international financial institutions to help provide debt relief.

Attarat Power said it expects a decision in the case later this year. Rulings by the world business organization are legally binding and enforceable.

Maaitah and other company officials dismissed Jordan’s claims of unjustly inflated prices, accusing Jordan of backtracking on its agreement due to anti-China sentiment.

Since the first of two power units went live last fall, the Jordanian government has paid only half its monthly dues, Maaitah said.

In Jordan and other poorer Arab states allied with the U.S., the pace of Chinese investment in recent years has slowed.

Faced with pushback abroad and rising concerns at home, China is shifting its approach in the region, said Amman-based China expert Samer Khraino, focusing on the oil-rich Persian Gulf. Wealthy states like the United Arab Emirates and Saudi Arabia have no issue paying back China’s big loans.

For now, Jordan appears unwilling to take any more chances with China.

In May, Jordan’s telecommunications company Orange signed a new agreement for 5G equipment. It had long been a customer of Huawei, the Chinese telecoms giant under American sanctions.

This time, it chose Nokia.

 (Isabel Debre, The Associated Press)

Translation

（繼續）

專家表示，這項投資是中國更廣泛地進軍渴望外國投資的阿拉伯世界的一部分。 大型基礎設施項目的資金幾乎沒有附加任何政治條件。

美國前中東政策助理國務卿David Schenker表示: “中國沒有帶來美國的附帶包袱，因為我們實際上對民主進程、透明度和腐敗有所留意” 。 “對於威權國家來說，中國有一定的吸引力。”

隨著人們對美國不可靠的討論越來越多，中國轉向在中東收購戰略資產，甚至是在經濟陷入困境的國家。 它購買了大量伊拉克石油，招標了黎巴嫩北部的一個港口，並向阿卜杜勒-法塔赫·塞西總統在埃及的新首都注入資金。

專家稱，隨著2017年敘利亞總統巴沙爾·阿薩德在該國內戰中佔據上風，中國有興趣投資鄰國約旦的阿塔拉特項目作為跳板，預計敘利亞重建熱潮可能帶來數十億美元的投資 。

根據為期 30 年的購電協議，約旦國營電力公司將不得不以過高的價格,從目前實際上由中國領導的阿塔拉特購買電力，財政部估計，這意味著約旦政府每年將損失 2.8 億美元。 能源專家表示，為了支付這筆費用，約旦必須將消費者的電價提高 17%，這對已經背負債務和通貨膨脹的經濟造成嚴重打擊。

中國遭受的損失之大令約旦政府震驚。 約旦能源部於 2020 年 “以嚴重不公平為由” 對 阿塔拉特電力公司啟動了國際仲裁。

當被問及為什麼約旦一開始就同意這樣一份不平衡的合同時，約旦能源部拒絕置評，國家電力公司也拒絕置評。截至 6 月，聽證會正在位於巴黎的國際商會的仲裁庭舉行。

議會能源委員會的地質學家 Musa Hantash 將這筆交易描述為腐敗和缺乏技術專長的必然結果。

他說: “說服這些大公司在約旦投資非常困難。 有些東西可以幫助某些人獲利”, 但沒有詳細說明。

美國官員將阿塔拉特合同描述為北京 “債務陷阱外交” 的一個例子。

中國外交部拒絕對阿塔拉特項目發表評論。 但它為北京對發展中國家的投資進行了辯護，否認其讓合作夥伴陷入債務的指控，並辯稱中國從未強迫 “其他國家強行向我們藉款” 。

該部表示: “我們從不在貸款協議中附加任何政治條件” ，並敦促國際金融機構幫助提供債務減免。

阿塔拉特電力表示，預計該案將在今年晚些時候做出裁決。 世界商業組織的裁決具有法律約束力和可執行性。

Maaitah和其他公司官員駁斥了約旦關於不公正抬高價格的說法，指責約旦因反華情緒而背棄協議。

Maaitah說，自從去年秋天兩台發電機組中的第一台投入使用以來，約旦政府只支付了一半的月費。

在約旦和其他與美國結盟的較貧窮的阿拉伯國家，中國投資的步伐近年來有所放緩。

駐安曼的中國問題專家 Samer Khraino 諾表示，面對國外的阻力和國內日益增長的擔憂，中國正在改變其在該地區的做法，專注於石油資源豐富的波斯灣。 阿聯酋和沙特阿拉伯等富裕國家在償還中國的巨額貸款方面沒有問題。

目前，約旦似乎不願再與中國冒險。

5月，約旦電信公司Orange簽署了新的5G設備協議。 它長期以來一直是受到美國製裁的中國電信巨頭華為的客戶。

這一次，它選擇了諾基亞。

So, under a 30-year power purchase deal, Jordan’s state-run electricity company will have to buy electricity from the now effectively Chinese-led Attarat, meaning that the Jordanian government would lose around $280 million annually. The Jordanian government has launched an international arbitration against Attarat Power Co. “on the grounds of gross unfairness.” I am interested to know why Jordan had agreed to such a lopsided contract in the beginning. It seems that, for unknown reasons, Chinese money is easy to borrow by some countries that are of geo-political importance.

一座陷入困境的新發電廠令約旦欠中國債務，引發對北京影響力的擔憂 (1/2)

Recently Yahoo News on-line reported the following:

A troubled new power plant leaves Jordan in debt to China, raising concerns over Beijing's influence (1/2)

Wed, July 5, 2023 at 6:36 a.m. PDT

ATTARAT, Jordan (AP) — Jordan’s Attarat power plant was envisioned as a landmark project promising to provide the desert kingdom with a major source of energy while solidifying its relations with China.

But weeks after its official opening, the site, a sea of black, crumbly rock in the barren desert south of Jordan’s capital, is instead a source of heated controversy. Deals surrounding the plant put Jordan on the hook for billions of dollars in debt to China — all for a plant that is no longer needed for its energy, because of other agreements made since the project’s conception.

The result is fueling tensions between China and Jordan and causing grief for the Jordanian government as it tries to contest the deal in an international legal battle. As Chinese influence grows in the Middle East and America withdraws, the $2.1 billion shale oil station has come to characterize China’s wider model that has burdened many Asian and African states with crippling debt and served as a cautionary tale for the region.

“Attarat is a representation of what the Belt and Road Initiative was and has become,” said Jesse Marks, a nonresident fellow at the Washington-based Stimson Center, referring to China’s scheme to build global infrastructure and boost Beijing’s political sway.

“Jordan evolves as an interesting case study not for China’s success in the region but for how China engages in middle-income countries,” he said.

First conceived some 15 years ago as a way to fulfill national ambitions of energy independence, the Attarat shale oil plant is now causing anger in Jordan because of its enormous price tag. If the original agreement holds, Jordan would have to pay China a staggering $8.4 billion over 30 years to buy the electricity generated by the plant.

Laborers flown from rural China toil in the shadow of the giant station, some 100 kilometers (60 miles) south of Amman.

When Shi Changqing arrived in the Jordanian desert earlier this year from the Jilin province in China’s northeast, fears were mounting in the workers’ dormitories that the project could grind to a halt, leaving everyone in the lurch, the 36-year-old welder said.

“It’s very strange to feel that, being from China, you are not wanted here,” he said.

With its meager natural resources in a region awash with oil and gas, Jordan seemed to have drawn a losing ticket. Then in the 2000s, it struck shale oil trapped in the black rock that underlies the country. With the fourth-largest concentration of shale oil in the world, Jordan had high hopes for a big pay-off.

In 2012, the Jordanian Attarat Power Company proposed to the government to extract shale oil from the desert and build a plant using it to provide 15% of the country’s electricity supply. The proposal fit the government’s intensifying desire for energy self-sufficiency amid the turmoil of the 2011 Arab uprisings, company officials say.

But extraction proved expensive, risky and technologically challenging. As the project lagged, Jordan struck a $15 billion agreement to import vast amounts of natural gas at competitive prices from Israel in 2014. Interest in Attarat waned.

Attarat Power Co. board member Mohammed Maaitah said he pitched the project the world over — from the United States and Europe to Japan and South Korea. No one bit, he said.

To Jordan’s surprise, Chinese banks offered Jordan over $1.6 billion in loans to finance the plant in 2017. A Chinese state-owned firm, Guangdong Energy Group, bought a 45% stake in the Attarat Power Co., turning the white elephant into the largest private enterprise to come out of President Xi Jinping’s Belt and Road Initiative outside China, according to the company.

Guangdong Energy Group did not respond to requests for comment.

(to be continued)

Translation

約旦阿塔拉特（美聯社）- 約旦阿塔拉特發電廠被設想為一個里程碑式的項目，承諾為這個沙漠王國提供主要能源，同時鞏固與中國的關係。

但在正式開放幾週後，這個位於約旦首都南部貧瘠沙漠中一片黑色易碎岩石帶的地點卻引發了激烈的爭議。 圍繞該工廠的交易讓約旦背負了數十億美元的債務 - 所有這些都是為了一座不再需要其能源的工廠，因為自該工廠項目構想以來,已有其他協議達成了。

其結果加劇了中國和約旦之間的緊張關係，並因為約旦政府試圖在國際法律訴訟中對該協議提出異議而給約旦政府帶來了哀傷。 隨著中國在中東影響力的增強和美國的撤出，耗資21億美元的頁岩油站已成為中國更廣泛模式的特徵，這種模式給許多亞洲和非洲國家帶來了沉重的債務負擔，並成為該地區的警示故事。

華盛頓Stimson中心的非常駐研究員Jesse Marks說： “阿塔拉特代表了 ‘一帶一路’ 倡議的過去和現在的模樣” 。他指的是中國建設全球基礎設施和增強北京政治影響力的計劃。

他說: “約旦成為一個有趣的研究案例，不是因為中國在該地區的成功，而是因為中國如何與中等收入國家打交道” 。

大約 15 年前，阿塔拉特頁岩油工廠最初被構想為實現國家能源獨立雄心的一種方式，但現在因其高昂的價格而引起了約旦的憤怒。 如果依從最初的協議，約旦將不得不在30年內向中國支付驚人的84億美元，以購買該工廠產生的電力。

從中國農村飛來的勞工在安曼以南約 100 公里（60 英里）處的巨型駐紮地的暗影下辛勤勞作。

36 歲的焊工Shi Changqing說，今年早些時候，當他從中國東北的吉林省抵達約旦沙漠時，宿舍裡工人越來越擔心該項目可能會陷入停滯，讓每個人都陷入困境。

他說: “你來自中國，這裡不受歡迎，這種感覺很奇怪” 。

約旦處於一個到處都已有石油和天然氣豐富的環境，但因自然資源貧乏，它似乎已經抽了下簽。 然後在 2000 年代，它開採了該國地下黑色岩石中的頁岩油。 約旦擁有世界第四大頁岩油集中地，對獲得豐厚回報寄予厚望。

2012年，約旦阿塔拉特電力公司向政府提議從沙漠中提取頁岩油並建造一座工廠，用它提供該國15%的電力供應。 公司官員表示，該提案符合政府因在 2011 年阿拉伯起義的動盪而引出要增強能源自給自足的願望。

但事實證明，提取成本昂貴、風險大且技術上具有挑戰性。 由於該項目滯後，約旦於 2014 年達成了一項價值 150 億美元的協議，以具有競爭力的價格從以色列進口大量天然氣。人們對阿塔拉特的興趣逐漸減弱。

阿塔拉特發電廠董事會成員Mohammed Maaitah表示，他在世界各地推銷該項目 - 從美國、歐洲到日本和韓國。 他說沒有人要。

令約旦驚訝的是，中國的銀行在 2017 年向約旦提供了超過 16 億美元的貸款，為該工廠融資。據該公司稱，中國國有企業廣東能源集團購買了阿塔拉特電力公司 45% 的股份，將這頭白像變成了由中國國家主席習近平的 “一帶一路” 倡議走出的最大的私人公司。

廣東能源集團沒有回應置評請求。

（待續）

中國駁斥了對其高級外交官言論似在推動種族聯盟的批評

Recently Yahoo News on-line reported the following:

China dismisses criticism of top diplomat's comments appearing to push for race-based alliance

Wed, July 5, 2023 at 1:59 a.m. PDT

BEIJING (AP) — China on Wednesday dismissed criticism of racially tinged comments by its top diplomat, who said Westerners are incapable of distinguishing among Chinese, Koreans and Japanese.

“Americans take all visitors from China, South Korea and Japan as Asians. They cannot tell the differences and it’s the same in Europe,” said Wang Yi, a former foreign minister who now heads the ruling Communist Party’s foreign affairs commission. “No matter how yellow you dye your hair, or how sharp you make your nose, you’ll never turn into a European or American, you’ll never turn into a Westerner."

“One needs to know where one’s roots are," Wang said at a trilateral forum in the northern Chinese city of Qingdao on Monday. "China, Japan, Korea — if we can join hands and cooperate, it would not only suit the interests of our three countries, but also the wishes of our peoples and together we can prosper, revitalize East Asia and enrich the world."

Wang’s comments drew immediate condemnation, particularly from scholars online. Asked about the critical response at a briefing Wednesday, Foreign Ministry spokesperson Wang Wenbin replied, “we cannot agree with it at all.”

In a speech to the forum, Wang Yi emphasized cooperation among the three nations, adding that “some major countries outside the region deliberately exaggerate ideological differences, weave various exclusive small circles, and try to replace cooperation with confrontation and unity with division.”

That was a clear reference to the United States, China's chief rival, which it routinely accuses of hegemonism.

The U.S. has security alliances with both Japan and South Korea, whose open societies and multiparty democracies contrast sharply with China's strict authoritarian one-party system. China's closest allies in northeast Asian are North Korea and Russia.

“Only a region that is united and self-reliant can eliminate external interference and achieve sustainable development,” added Wang, who then promoted a series of Chinese initiatives, including Communist Party leader Xi Jinping's signature “Belt and Road” cross-border infrastructure project.

China has for centuries viewed itself as the economic, political and cultural center of East Asia, a role it is seeking to regain under Xi's aggressive foreign policy and campaign for the "Great Rejuvenation of the Chinese Nation."

On Twitter, Bonnie Glaser, Asia Director of the George Marshall Fund of the United States, wrote: “This message will not land well with Japan and South Korea. Does Wang Yi really think that national interests are less important than appearance?”

“The irony of ... Wang Yi telling Japanese and Koreans ‘you can never become an American,’ is that Japanese and Koreans become Americans every day,” wrote Jeff M. Smith, director of the Asian Studies Center at U.S. think tank The Heritage Foundation.

“They’re part of the fabric of America. What they can’t become is Chinese. Tone deaf. Again,” Smith wrote.

There are millions of U.S. citizens of Chinese, Japanese and Korean heritage.

Some commentators also noted that Wang's comments were reminiscent of Japan's 20th century “Greater East Asia Co-Prosperity Sphere,” essentially a front for its bid to conquer much of the continent and supplant Western influence.

In his speech and in later comments, Wang papered over historical and current differences among the three countries. China fought against South Korea on behalf of North Korea during the 1950-53 Korean War, and still bears strong resentment toward Japan over its brutal World War II invasion and occupation of much of China.

Translation

北京（美聯社）- 中國周三駁回了對其最高外交官的言論帶有種族色彩的批評，他稱西方人無法區分中國人、韓國人和日本人。

前外交部長、現執政的共產黨外事委員會主任王毅說: “美國人把所有來自中國、韓國和日本的遊客都視為亞洲人。 他們無法分辨出其中的差異，在歐洲也是如此” 。 “無論你把頭髮染得多黃，無論你把鼻子弄得多尖，你永遠不會變成歐洲人或美國人，你永遠不會變成西方人。”

周一王在中國北部城市青島舉行的三方論壇上表示: “一個人需要知道自己的根在哪裡” 。 “中國、日本、韓國 - 如果我們能夠攜手合作，這不僅符合我們三個國家的利益，也是我們各國人民的願望，我們共同繁榮、振興東亞、豐富世界。”

王的言論立即遭到譴責，尤其是來自網上學者的譴責。 在周三的新聞發布會上被問及對此的批評時，外交部發言人汪文斌回答說： “我們完全不能同意譴責。”

王毅在論壇演講中強調了三個國家之間的合作，並補充道， “一些域外大國刻意誇大意識形態差異，編織各種排他性小圈子，試圖以對抗代替合作，以分裂代替團結” 。

這明顯是指中國的主要競爭對手美國，中國經常指責美國實行霸權主義。

美國與日本和韓國都有安全聯盟，這兩個國家的開放社會和多黨民主制度與中國嚴格的威權一黨制形成鮮明對比。 中國在東北亞最親密的盟友是朝鮮和俄羅斯。

王補充道： “只有團結、自力更生的地區才能消除外部干擾，實現可持續發展” 。他隨後推動了一系列中國倡議，包括共產黨領導人習近平標誌性的 “一帶一路” 跨境基礎設施項目 。

多個世紀以來，中國一直將自己視為東亞的經濟、政治和文化中心，在習近平激進的外交政策和 “中華民族偉大復興” 運動的推動下，中國正在尋求重新獲得這一地位。

美國喬治·馬歇爾基金會亞洲區主任 Bonnie Glaser 在推特上寫道： “這一信息不會受到日本和韓國的歡迎。 王毅真的認為國家利益不如外表重要嗎？”

美國智庫亞洲研究中心-遺產基金會-的主任 Jeff M. Smith 寫道： “王毅告訴日本人和韓國人‘你永遠不可能成為美國人’，諷刺的是，日本人和韓國人每天都在成為美國人”。

Smith寫道: “他們是美國結構的一部分。 他們不會成為的就是中國人。再一次, 中國不理解人們對這事的感受” 。

有數百萬美國公民擁有中國、日本和韓國血統。

一些評論人士還指出，王毅的言論讓人想起20世紀日本的 “大東亞共榮圈” ， 本質上是日本試圖征服東亞大陸大部分地區並取代西方影響力的幌子。

王毅在講話和隨後的評論中掩蓋了這三個國家之間歷史和當前的分歧。 中國在 1950-53 年朝鮮戰爭期間代表朝鮮與韓國作戰，並且仍然對日本在二戰期間殘酷入侵和占領中國大部分地區懷有強烈不滿。

So, regarding Wang’s saying that if China, Japan, Korea can join hands and cooperate, “it would not only suit the interests of our three countries, but also the wishes of our peoples and together we can prosper, revitalize East Asia and enrich the world”, I  agree with some commentators that Wang's words sound like Imperial Japan's early 20th century “Greater East Asia Co-Prosperity Sphere” proposal which basically was a pretext for its bid to dominate much of the Asian continent and to replace Western influence. Against the background of how currently China is dealing with the Philippines and Vietnam over the South China sea issues, his words “revitalize East Asia” seems to have a shadow of China’s dream in dominating Asia again like during the Tang dynasty (AD 618 - 907), the Ming dynasty (AD 1368-1644) or the Ching dynasty (AD 1644-1911), when China was historically known as the influential Middle Kingdom.

美國將限制中國使用雲計算 - 華爾街日報

Recently Yahoo News on-line reported the following:

US set to restrict China's access to cloud computing - WSJ

Mon, July 3, 2023 at 10:04 p.m. PDT

(Reuters) - The Biden administration is preparing to restrict Chinese companies' access to U.S. cloud-computing services, the Wall Street Journal reported on Tuesday, citing people familiar with the situation.

The new rule, if adopted, would likely require U.S. cloud-service providers such as Amazon and Microsoft to seek U.S. government permission before they provide cloud-computing services that use advanced artificial-intelligence chips to Chinese customers, the newspaper said.

The U.S. Department of Commerce is expected to implement the restriction in coming weeks as part of an expansion of its semiconductor export control policy introduced in October, the it said.

The Commerce Department, Microsoft and Amazon did not immediately respond to a request for comment outside business hours.

China said on Monday it would control exports of some metals widely used in the semiconductor industry, its latest response in an escalating dispute with the U.S. over access to high-tech microchips.

The controls on metals, which China said were aimed at protecting national security and its interests, will require exporters to seek permission to ship some gallium and germanium products.

(Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Kim Coghill, Robert Birsel)

Translation

（路透社）- 《華爾街日報》週二援引知情人士的話報導稱，拜登政府正準備限制中國公司使用美國雲計算服務。

該報稱，新規定如果獲得通過，可能會要求亞馬遜和微軟等美國雲服務提供商, 在向中國客戶提供使用先進人工智能芯片的雲計算服務之前, 必須尋求美國政府的許可。

該報說, 美國商務部預計將在未來幾週內實施該限制，作為 10 月份推出的擴大半導體出口管制政策的一部分。

美國商務部、微軟和亞馬遜沒有在辦工時間之外立即回應置評請求。

中國周一表示，半導體行業廣泛使用的一些金屬的出口將受控制，這是中國與美國就高科技微芯片准入問題不斷升級的爭端的最新回應。

中國表示，因旨在保護國家安全和利益對金屬的管制，出口商將被要求獲得許可才可輸出一些鎵和鍺產品。

So, the US would likely require cloud-service providers to seek U.S. government permission before they provide advanced cloud-computing services to Chinese customers. It seems that disputes between the U.S. and China over the access to high-tech microchips are escalating.

香港警方懸賞100萬港元通緝8名民運人士

Recently Yahoo News on-line reported the following:

Hong Kong Police Offer HK$1 million Reward for 8 Wanted Democracy Activists

Kari Lindberg

Mon, July 3, 2023 at 2:45 a.m. PDT

(Bloomberg) -- Hong Kong police are offering HK$1,000,000 ($127,650) rewards for information leading to the arrest of eight pro-democracy activists wanted under the Beijing-drafted national security law.

The first bounties to be offered in relation to that sweeping legislation were announced, along with arrest warrants, by chief superintendent Steve Li at a press conference on Monday.

The rewards apply to former lawmakers Nathan Law, Dennis Kwok, and Ted Hui, lawyer Kevin Yam as well as activists Finn Lau, Anna Kwok, Elmer Yuan and unionist Mung Siu-tat. They are all currently living in self-imposed exile, in countries including the US, UK, Canada and Australia.

“The eight persons concerned who have fled overseas are alleged to have continued to commit offenses under the national security law,” a government spokesperson said in a statement Monday. “The fugitives should not have any delusion that they could evade their legal liabilities by absconding from Hong Kong.”

China imposed the national security law on Hong Kong in June 2020 in the wake of widespread anti-government street protests that rocked the city. It has since used the legislation to crackdown on dissent, arresting lawmakers, journalists and democracy activists.

The sweeping legislation asserts global jurisdiction for cases involving terrorism, secession, subversion and collusion with foreign powers, which carry sentences as long as life in prison. That’s raised concerns China might reach beyond its borders to prosecute people for crimes under the legislation.

The UK government has previously alerted people in Britain named in a Hong Kong national security case to avoid traveling to countries that have extradition treaties with the Chinese territory. China has accused the UK of sheltering “wanted criminals” for granting asylum to Law, a former elected politician in Hong Kong.

Some 260 individuals, aged 15 to 90, have been arrested for acts endangering national security in the past three years, Li said, adding that officials have charged two-thirds of those arrested. That figure includes arrests under the colonial sedition law that has been revived by security police.

Earlier this year, a Hong Kong student was arrested for sedition over a series of pro-independence comments she allegedly posted on social media while studying in Japan, local media including the South China Morning Post reported, showing the long-arm of national security charges.

Translation

（彭博社）- 香港警方懸賞 1,000,000 港元（127,650 美元），以期提供線索逮捕八名根據北京起草的國家安全法通緝的民主活動人士。

總警司 Steve Li 在周一的新聞發布會上宣布了與這項全面立法相關的第一批賞金以及逮捕令。

這些獎勵適用於前立法會議員羅冠聰、郭榮鏗和許智峯，律師任建峰，以及活動人士劉祖迪、郭鳳儀、袁弓夷和工會成員蒙兆達。 他們目前都在美國、英國、加拿大和澳大利亞等國家過著自我流放的生活。

政府發言人周一在一份聲明中表示: “逃亡海外的八名涉案人員涉嫌繼續觸犯國家安全法” 。 “逃犯不應抱有任何妄想，認為可以通過潛逃香港來逃避法律責任。”

在震撼了香港的大規模反政府街頭抗議活動之後，中國於 2020 年 6 月對香港實施了國家安全法。 此後，它利用該立法鎮壓異見人士，逮捕立法者、記者和民主活動人士。

這項全面的立法對涉及恐怖主義、分裂國家、顛覆和與外國勢力勾結的案件主張全球管轄權，這些案件的刑期最高可達終身監禁。 這引發了人們的擔憂，中國可能會超越國界地去根據該立法起訴犯罪分子。

英國政府此前曾提醒在香港國家安全案件中被點名的英國人避免前往與中國領土簽訂引渡條約的國家。 中國指責英國庇護 “通緝犯” ， 為香港羅姓前民選政治人物提供庇護。

Li說，過去三年來，約有 260 名年齡在 15 歲至 90 歲之間的人士因危害國家安全行為被捕，並補充說，官員已對其中三分之二的被捕者提出指控。 這一數字包括根據由安全警察恢復的殖民煽動法進行的逮捕。

據《南華早報》等當地媒體報導，今年早些時候，一名香港學生因涉嫌煽動叛亂而被捕，據稱她在日本留學期間在社交媒體上發布了一系列支持獨立的言論，顯示了國家安全指控的長臂。 

So, Hong Kong police are offering rewards for information leading to the arrest of eight pro-democracy activists wanted under the national security law. China imposed the national security law on Hong Kong in June 2020. It has since used the legislation to crackdown on dissent, arresting lawmakers, journalists, and democracy activists. I am wondering whether Hong Kong is a free society.

獨家：美國、荷蘭同時打出兩拳去打擊中國芯片製造商

Recently Yahoo News on-line reported the following:

Exclusive-US, Dutch set to hit China's chipmakers with one-two punch

Thu, June 29, 2023 at 2:00 p.m. PDT

By Karen Freifeld

(Reuters) -The United States and the Netherlands are set to deliver a one-two punch to China's chipmakers this summer by further restricting sales of chipmaking equipment, part of the countries' ongoing effort to prevent their technology from being used to strengthen China's military.

While the Dutch are planning to curb certain equipment from national champion ASML, and other companies, the U.S. is expected to go one step further and use its long reach to withhold even more Dutch equipment from specific Chinese fabs.

The Dutch government and ASML declined to comment, as did the U.S. Commerce Department, which oversees export controls.

The U.S. in October imposed export restrictions on shipments of American chipmaking tools to China from U.S. companies like Lam Research and Applied Materials on national security grounds, and lobbied other countries with key suppliers to adopt similar curbs.

Chinese Embassy spokesperson Liu Pengyu in Washington decried the move and said the U.S. "has deliberately blockaded and hobbled Chinese companies and forcibly relocated industries and pushed for decoupling," and said China would "closely follow the developments and firmly safeguard our own interests."

Japan, home to chip equipment makers Nikon Corp and Tokyo Electron Ltd, has since adopted rules to restrict exports of 23 types of semiconductor manufacturing equipment that will take effect July 23.

The Dutch government plans to announce new regulations on Friday with a licensing requirement for the top tier of ASML'S second-best product line, deep ultra violet (DUV) semiconductor equipment. ASML's most sophisticated machines -- extreme ultraviolent "EUV" lithography machines -- are already restricted, and have never been shipped to China.

ASML said in March it expects the Dutch regulations to affect its TWINSCAN NXT:2000i and more sophisticated models.

But the company's older DUV models, like one called the TWINSCAN NXT:1980Di, could also be kept from about six Chinese facilities by the U.S. The facilities are expected to be identified in a new U.S. rule that will allow the U.S. to restrict foreign equipment with even a small percentage of U.S. parts to those sites, according to a person familiar with the matter. The person was not authorized to speak publicly.

The new Dutch regulations will not take effect immediately, sources said, with one person expecting the effective date to be September, two months after publication.

The planned U.S. rule, which sources said may be published by late July, will require licenses to export equipment to about a half dozen Chinese facilities, including a fab operated by SMIC, China's largest chipmaker, the person familiar with the U.S. plans, said. Licenses to ship the equipment to those facilities will likely be denied, the person said.

The U.S. rule is expected to apply to ASML, the world's leading chip equipment maker and Netherlands' largest company, because its systems contain U.S. parts and components.

It is not unusual for the U.S. to modify proposals before clearing regulations, so both the timing and the restrictions could change. The plan described reflects thinking in late June.

The U.S. is also expected to come out with other updates to its sweeping October rules in July, according to sources.

ASML is Europe's largest chip equipment company due to its dominance in lithography, one of the central steps in the computer chip making process.

Other companies that could be impacted by the new Dutch rules include atomic layer deposition firm ASM International. A spokesman for the Almere-based company declined comment ahead of Friday's announcement.

(Reporting by Karen Freifeld; additional reporting by Toby Sterling in Amsterdam; Editing by Anna Driver and Stephen Coates)

Translation

（路透社）-美國和荷蘭將於今年夏天同時打出兩拳以進一步限制芯片製造設備的銷售來打擊中國芯片製造商，這是兩國持續努力的一部分，以防止其技術被用於加強中國的軍事力量 。

雖然荷蘭計劃限制國家龍頭企業ASML和其他公司的某些設備，美國預計將更進一步，利用其長期影響力，向特定的中國製造先進電子產品工廠扣留更多荷蘭設備。

荷蘭政府和 ASML 拒絕置評，負責監督出口管制的美國商務部也拒絕置評。

美國去年10月以國家安全為由，對 Lam Research 及 Applied Materials 等美國公司在向中國出口美國芯片製造工具實施出口限制，並遊說其他擁有主要供應商的國家採取類似的限制措施。

中國駐華盛頓大使館發言人Liu Pengyu 譴責美方此舉，稱美方 “蓄意封鎖、束縛中國企業，強行搬遷產業，推動脫鉤” ， 並表示中方將 “密切關注事態發展，堅定維護自身利益” 。

日本是芯片設備製造商 Nikon Corp 和 Tokyo Electron Ltd 的所在地，並通過了限制 23 種半導體製造設備出口的法例，該法例將於 7 月 23 日生效。

荷蘭政府計劃於週五宣布新法規，對 ASML 第二好的頂級產品線深紫外 (DUV) 半導體設備提出發牌制度。 ASML的最先進的機器 - 極端紫外線“EUV”光刻機 - 已經受到限制，並從未運往中國。

ASML 在 3 月份表示，預計荷蘭法規將影響其 TWINSCAN NXT:2000i 和更複雜的型號。

但該公司較舊的 DUV 型號，如名為 TWINSCAN NXT:1980Di 的型號，也可能被美國禁止在大約六家中國機構組織中使用。據一位知情, 但無權公開發言的人士透露, 預計這些機構組織將在美國的一項新規則中得到說明，該規則將允許美國限制外國設備被運往這些機構組織地點, 即使這些外國設備是只有一小部分是美國零部件。

消息人士稱，荷蘭新法規不會立即生效，一位人士預計生效日期為 9 月，即發布兩個月後。

熟悉美國計劃的人士稱，計劃中的美國規則可能會在 7 月底公佈，該規則將要求向大約六家中國工廠出口設備需要許可證，其中包括中國最大芯片製造商中芯國際運營的一家晶圓廠。 該人士表示，向這些設施運送設備的許可證可能會被拒絕。

美國的規定預計將適用於全球領先的芯片設備製造商、荷蘭最大的公司ASML，因為其係統包含美國零部件。

美國在批准法規之前修改提案並不罕見，因此描述的時間和限制都可能發生變化。現所描述的計劃只反映了六月下旬的想法。

據消息人士透露，美國預計還將在 7 月份對其 10 月份的廣泛規則進行其他更新。

ASML 因其在光刻領域的主導地位而成為歐洲最大的芯片設備公司，光刻是計算機芯片製造過程的核心步驟之一。

其他可能受到荷蘭新規定影響的公司包括原子層沉積公司 ASM International。 這家總部位於阿爾梅勒的公司的發言人在周五宣布這一消息之前拒絕發表評論。

So, the United States and the Netherlands will further restrict sales of chipmaking equipment to China as part of the countries' ongoing effort to prevent their technology from being used to strengthen China's military. It is not unusual for the U.S. to modify proposals before making regulations, so both the timing and the restrictions now speculated could change. I am interested in knowing how China will react to this, will it bargain with the US unofficially behind the door?

美國警告中國新反間諜法使企業面臨風險

Recently Yahoo News on-line reported the following:

US warns new Chinese counterespionage law puts companies at risk

Fri, June 30, 2023 at 9:51 a.m. PDT

By Michael Martina

WASHINGTON (Reuters) -The U.S. on Friday warned about a new Chinese counterespionage law, saying American and other foreign companies in the country could face penalties from Chinese authorities for regular business activities.

Chinese lawmakers this year passed a wide-ranging update to Beijing's anti-espionage legislation that goes into effect on July 1, banning the transfer of any information related to national security and broadening the definition of spying.

China this year has also cracked down on U.S. consultancy and due diligence firms, a move business lobbies have said unnerved foreign investors in the world's second-largest economy.

The U.S. National Counterintelligence and Security Center (NCSC) said in a bulletin that China viewed outbound flow of data as a national security risk, and that the new and existing laws could compel companies' locally employed Chinese nationals to assist in Chinese intelligence efforts.

"These laws provide the PRC (People's Republic of China) government with expanded legal grounds for accessing and controlling data held by U.S. firms in China," the NCSC said.

"U.S. companies and individuals in China could also face penalties for traditional business activities that Beijing deems acts of espionage or for actions that Beijing believes assist foreign sanctions against China," it said.

It said the ambiguities of the law meant that "any documents, data, materials or items" could be deemed relevant to Chinese national security, also putting journalists, academics and researchers at risk.

China's embassy in Washington said Beijing had a right to safeguard national security through domestic legislation.

"China will continue to promote high-level opening-up and provide a more law-based and international business environment for companies from all countries, including the United States," embassy spokesman Liu Pengyu said.

Chinese leader Xi Jinping has emphasized national security since taking office in 2012. Suspicion in China of the U.S. and its allies has grown as the U.S.-China rivalry has intensified, yet Beijing has insisted it is opening up to overseas investment.

U.S. officials have told Reuters that since the enactment of the Chinese law in April they have received a flood of questions from businesses and other groups about the risks of traveling to China.

The U.S. State Department also updated its travel advisory for China on Friday, upgrading the "risk of wrongful detentions" among its warnings for Americans to reconsider travel to the country.

U.S. Ambassador to China Nicholas Burns has said Beijing's targeting of U.S. firms was politically motivated and that Washington would push back.

(Reporting by Michael Martina in Washington Editing by Chizu Nomiyama and Matthew Lewis)

Translation

華盛頓（路透社） - 美國周五對中國新的反間諜法發出警告，稱在華的美國和其他外國公司可能因正常商業活動而面臨中國當局的處罰。

中國立法者今年通過了對北京反間諜立法的廣泛更新，該立法將於 7 月 1 日生效，禁止傳輸任何與國家安全有關的信息，並擴大了間諜的定義。

中國今年還對美國諮詢和盡職調查公司進行了打擊，商業說客稱此舉讓世界第二大經濟體的外國投資者感到不安。

美國國家反情報與安全中心（NCSC）在一份公告中表示，中國將數據出境流動視為國家安全風險，新的和現有的法律可能會迫使外國公司在當地僱用的中國公民協助中國的情報搜羅。

NCSC 表示： “這些法律為中華人民共和國政府獲取和控制美國公司在華持有的數據提供了更廣泛的法律依據。”

報告稱： “在中國的美國公司和個人傳統商業活動, 也可能因北京認為是從事間諜活動, 或北京認為有助於外國對中國製裁的行為而面臨處罰。”

報告稱，該法律的模糊性意味著 “任何文件、數據、材料或物品” 都可能被視為與中國國家安全相關，這也讓記者、學者和研究人員面臨風險。

中國駐華盛頓大使館表示，北京有權通過國內立法維護國家安全。

使館發言人Liu Pengyu表示，中國將繼續推動高水平對外開放，為包括美國在內的各國企業提供更加法治化、國際化的營商環境。

中國領導人習近平自2012年上任以來一直強調國家安全。隨著中美競爭加劇，中國對美國及其盟友的懷疑與日俱增，但北京方面堅稱正在向海外投資開放。

美國官員告訴路透社，自四月份中國法律頒布以來，他們收到了來自企業和其他團體的大量關於前往中國的風險詢問。

美國國務院週五還更新了對中國的旅行建議，在警告美國人重新考慮前往中國旅行的警告中, 提升了 “錯誤拘留的風險” 。

美國駐華大使伯恩斯表示，北京針對美國公司的攻擊是出於政治動機，華盛頓將予以反擊。

So, the U.S. warns about a new Chinese counterespionage law, saying American and other foreign companies in the country could face penalties from Chinese authorities for regular business activities. It seems that national security is the top priority in China and trading benefits will only come next. There are no indications that tensions between China and the US will go away soon.