The restriction is aimed at closing a crucial loophole in the export controls the US implemented in October that allowed Chinese AI firms to access high-end chips through the cloud

Insiders and analysts say Pan Gongsheng is known as a risk averse financial technocrat, who played a key role in crackdowns on perceived threats over the past decade

Beijing has ramped up trade rivalry with the US by announcing controls on gallium and germanium - two minor metals widely used in chips, EVs and high-tech products - and it could get worse

The move comes as Japan works to revitalise its chip industry, and the European Union looks to reduce its dependence on China-dominated supply chains

S&P Global's seasonally adjusted purchasing managers' index for South Korean manufacturers fell to 47.8 in June, marking the lowest level in three months

Manufacturing activity contracted in Japan and South Korea, and increased by just a small margin in China. However, it grew at a brisk pace in India, survey data showed on Monday

Yellen is expected to discuss cooperation on climate change and global debt distress, plus concerns about China's anti-espionage law in talks with senior finance officials in Beijing this week

Nikkei says an investigation has found that customs records confirm that Russia has been buying drones from Chinese companies specifically for use in its war in Ukraine

China's foreign exchange regulator Pan Gongsheng, who has years of bank experience and studied in the UK and US, looks set to be the new head of the People's Bank of China

The US warns that China's anti-espionage law provides extra grounds to access and control data held by foreign firms in China and could criminalise normal business activity

Alberta Industrial Heartland and the Hong Kong-based private equity firm Can-China Global Resource Fund (CCGRF) have ended their tie-up amid 'big losses' and eroded bilateral ties

A former NSW Premier was in a secret relationship with an MP accused of corrupt conduct over a visa scheme for Chinese nationals