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One of my holdings...SVM
Company Description
Silvercorp Metals Inc., together with its subsidiaries, acquires, explores, develops, and mines mineral properties.
The company primarily explores for silver, gold, lead, and zinc metals. It holds interest in mines located in the Henan Province, Guangdong Province, and Hunan Province in China.
The company was formerly known as SKN Resources Ltd. and changed its name to Silvercorp Metals Inc. in May 2005.
Silvercorp Metals Inc. is based in Vancouver, Canada.
>>> Confucianism is deeply rooted in Chinese culture and continues to influence East Asian societies today.
Core Beliefs and Principles:
Filial Piety (Xiao): Respect and care for one's parents and ancestors are fundamental.
Loyalty (Zhong): Fidelity to one's family, community, and ruler.
Benevolence (Ren): A universal love and compassion for all humanity, encompassing empathy, kindness, and altruism.
Ritual (Li): Proper conduct and etiquette in social interactions, promoting harmony and order.
Harmony: A central concept, both within individuals and in society, achieved through the cultivation of virtue and adherence to ethical principles.
Tian (Heaven): A pervasive, invisible divine power that influences fate and destiny, often understood as the natural order of the universe.
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https://investorshub.advfn.com/boards/read_msg.aspx?message_id=176326257
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China’s Lock on Rare Earths Dictated Path Toward Trade Truce
The Wall Street Journal
by Jon Emont, Gavin Bade
6-11-25
https://www.wsj.com/world/asia/trump-china-rare-earths-0cbf3f3c
China’s chokehold on supplies of minerals essential to high-tech goods from electric vehicles to jet fighters has become a formidable advantage in trade negotiations with the U.S.
President Trump said Wednesday that the U.S. and China had agreed on terms for a truce on trade. The framework for the deal, which officials from the U.S. and China negotiated over two days in London this week, hinged on access to China’s exports of rare-earth magnets, coin-size components that are indispensable for powering car motors, industrial robots and missile-guidance systems.
Trump and Chinese leader Xi Jinping need to approve the agreement, which would lift some U.S. export restrictions in exchange for speeding the flow of rare earths. Commerce Secretary Howard Lutnick told The Wall Street Journal that he expects Trump to approve the agreement as soon as Wednesday or Thursday.
China makes around 90% of the world’s most powerful rare-earth magnets.
The deal appears to allow China to maintain an export-control system for rare earths established in April after Trump heaped extra duties of 34% on Chinese products. That would allow Beijing to clamp down on supplies again in the future. And licenses for U.S. manufacturers to import rare earths from China would have a six-month limit, people familiar with the deal said.
“China’s going to want to maintain leverage,” said Gracelin Baskaran, director of the critical minerals security program at the Center for Strategic and International Studies in Washington. China’s dominance “puts American companies at direct risk given that any sort of agreements that have been made can be reneged on,” she said.
China’s decision this year to cut back on exports of the magnets for just a couple of months sent shock waves through the global auto, electronics and defense industries. That helped drive the U.S. and China back to the bargaining table this week. China wanted the U.S. to lift export restrictions on technology including aviation parts in exchange for U.S. access to the rare-earths components.
China said it established export controls to regulate the supply of “dual-use” materials that can be used by militaries. After they took effect, Chinese magnet exporters requested details from foreign customers about the precise intended use. Magnets that didn’t contain the restricted rare-earth elements sometimes had to verify that through third-party testing, further gummed up exports.
Regulators often came back with more questions, sometimes requesting pictures of final products, which companies were loath to disclose because of intellectual-property concerns.
As delays mounted, global manufacturers grew more concerned.
In April, Elon Musk said China’s magnet restrictions could interfere with production of Tesla’s Optimus humanoid robots. Ford said it had stopped production of its Explorer SUV at its Chicago plant for a week in May.
New export licenses were issued in limited quantities to some Chinese magnet companies for certain non-U. S. clients including Volkswagen, and even some U.S. companies, people familiar with the matter said, but many companies around the world struggled to get enough magnets.
Two weeks ago, Bajaj Auto, an Indian auto rickshaw maker, said rare-earth export licenses now required, among other things, certification by the Chinese Embassy in India.
A trade truce between the U.S. and China in Geneva in mid-May was expected to ease the flow of magnets. But rare-earth exports remained constrained and the U.S. accused Beijing of slow-walking approvals. China blamed the Trump administration for breaking the Geneva agreement.
Earlier this month, Beijing said it would ease rare-earth exports to Europe, but made no such move for the U.S.
Automakers and other companies will seek to use any loosening of export restrictions to stock up on rare-earth magnets. Relief could be short-lived.
Mineral experts deem it unlikely that China will issue enough permits to allow big auto companies to stockpile magnets in large quantities. And even if Beijing did free up the flow, companies’ needs for specific magnets shift over time: When a carmaker changes the design of a motor, it often needs different magnets.
Defense companies are expected to face the most serious challenges. U.S. defense companies have moved away from China-sourced magnets, but few military-grade magnets are completely free of Chinese rare earths.
“China is very aware of its own capacity and is increasingly showing it is willing to use its own tools if necessary,” said Deborah Elms, head of trade policy at the Singapore-based Hinrich Foundation.
China’s dominance of rare earths was years in the making. By the 1990s China had developed top-quality rare-earth mines and a growing manufacturing sector hungry for rare-earth magnets. With state backing and easy access to raw materials, Chinese magnet makers undercut foreign competition. By 2010, the U.S. rare-earth magnet industry had all but disappeared. That gave Beijing a powerful weapon. One reason it has held off from restricting rare-earth exports in recent years is because that could catalyze efforts by companies around the world to develop rare-earth supply chains independent of China.
Australia’s Lynas Rare Earths recently opened a plant in Malaysia to process strategically crucial “heavy” rare earths, which will provide a rare alternative source to China.
“The Black Swan event has materialized,” Lynas CEO Amanda Lacaze said in April.
MP Materials, the dominant U.S. producer of rare earths, has a heavy-rare-earth plant coming up in California and expects to begin commercial production of magnets by the end of the year at its factory in Texas. MP has an agreement to sell magnets to General Motors.
While such efforts could provide an important backstop for strategic industries such as defense, robotics and automotives, over the near term China will maintain a firm grip.
“We’re just bringing commercial-level alternative sources online,” said Baskaran, the rare-earths expert. “And then there’s a process of ramp-up.”
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>>> Trump tariffs live updates: US-China trade framework takes shape as Trump says deal 'done'
Yahoo Finance
June 11, 2025
https://finance.yahoo.com/news/live/trump-tariffs-live-updates-us-china-trade-framework-takes-shape-as-trump-says-deal-done-200619381.html
The US and China agreed to a framework and implementation plan to ease tariff and trade tensions on Tuesday. President Trump signaled his approval, saying the deal was "done" pending sign-off from him and Chinese President Xi Jinping.
Trump and other US officials indicated the deal should resolve issues between the two countries on rare earths and magnets, though a report later indicated China would only loosen restrictions on rare earth mineral exports for a six-month period. Trump also said the US will allow Chinese students in US colleges, a sticking point that had emerged in the weeks following the countries' mid-May deal in Geneva.
Trump said the US would impose a total of 55% tariffs on Chinese goods. Yahoo Finance's Ben Werschkul reports, citing a White House official, that Trump arrived at that figure by adding together an array of preexisting duties and not any new tariffs.
The president combined the existing 20% tariffs over illegal drugs and migration with 10% "Liberation Day" tariffs, with other sector-specific duties in place that average out to 25% — but only apply to certain goods.
Outside analysts, such as the budget lab at Yale, have calculated that the effective tariff rate on China overall is more like 33%. Trump said China's tariffs on US imports would be 10%.
Meanwhile, though Trump's most sweeping tariffs continue to face legal uncertainty, on Tuesday, the president received a favorable update. A federal appeals court held a decision saying his tariffs can temporarily stay in effect. The US Court of International Trade had blocked their implementation last month, deeming the method used to enact them "unlawful."
Trump celebrated the ruling as a "great and important win."
The latest twists and turns in Trump's trade policy come as the president pushes countries to speed up negotiations. The US sent a letter to partners as a "friendly reminder" that Trump's self-imposed 90-day pause on sweeping "reciprocal" tariffs is set to expire in early July.
White House advisers have for weeks promised trade deals in the "not-too-distant future," with the only announced agreement so far coming with the United Kingdom. US and Indian officials held trade talks this week and agreed to extend those discussions on Monday and Tuesday ahead of the July 9 deadline.
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Sprott to Add Physical Copper Allocation to Its Copper Miners ETF (COPP)
May 21 2025 - 7:00AM
Sprott Asset Management USA, Inc. today announced that, effective June 23, 2025, the Sprott Copper Miners ETF (COPP) will include an allocation to physical copper. This change will make COPP the only1 ETF to provide exposure to physical copper and the only1 ETF to provide pure-play2 exposure to large-, mid- and small-cap copper miners.
The change will result from a modification to the Sprott Copper Miners ETF’s underlying index, the Nasdaq Sprott Copper MinersTM Index (NSCOPPTM). At its scheduled June semi-annual rebalance, effective at the market open on June 23, the index will add a 4.75% allocation to physical copper via the inclusion of the Sprott Physical Copper Trust, the world’s first and only physical copper investment fund.3 The revised NSCOPPTM Index methodology is available here https://indexes.nasdaqomx.com/Index/Overview/NSCOPP.
“Copper is essential in meeting the world’s growing energy needs, and there are currently limited ways investors are able to access the opportunity,” said John Ciampaglia, CEO of Sprott Asset Management LP. “We’re pleased to leverage Sprott’s specialized experience in metals and mining to add unprecedented access to physical copper alongside pure-play copper mining equities in our copper miners ETF.”
Shares of COPP will include the physical copper allocation as of the start of the trading day on June 23, 2025.
About Sprott Asset Management USA, Inc.
Sprott Asset Management USA, Inc. is a wholly-owned subsidiary of Sprott Inc. (“Sprott”). Sprott is a global asset manager focused on precious metals and critical materials investments. We are specialists. We believe our in-depth knowledge, experience and relationships separate us from the generalists. Our investment strategies include Exchange Listed Products, Managed Equities and Private Strategies. Sprott has offices in Toronto, New York, Connecticut and California, and the company’s common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol (SII). For more information, please visit www.sprott.com.
New Money: The Greatest Wealth Creation Event in History (2019) - Full Documentary
Jim Rogers' famous quote about the 21st century is: "The 19th century was the century of the United Kingdom, the 20th was the century of the United States, and the 21st century will be the century of Asia, and especially of China."
Confucianism emphasizes moral character and social harmony through core values like benevolence, righteousness, propriety, wisdom, and sincerity. These values, along with filial piety and respect for authority, guide personal conduct, social relationships, and governance, aiming for a harmonious and just society.
Here's a more detailed look at some key Confucian values:
Ren (Benevolence, Humanity):.
This is the central virtue, encompassing love, compassion, and empathy towards others. It encourages individuals to treat others as they would like to be treated.
Yi (Righteousness):.
Emphasizes honesty, integrity, and uprightness, guiding individuals to act justly and ethically.
Li (Propriety, Rituals):.
Focuses on good manners, etiquette, and following established social norms and rituals to maintain order and harmony.
Zhi (Wisdom, Knowledge):.
Promotes learning, self-reflection, and understanding of oneself and the world around to make informed decisions.
Xin (Sincerity, Faithfulness):.
Encourages honesty, trustworthiness, and keeping one's word, fostering trust and reliability in relationships.
Xiao (Filial Piety):.
Respect for parents and elders, demonstrating gratitude, obedience, and support for family members.
Zhong (Loyalty):.
Loyalty to one's family, community, and country, prioritizing the well-being of the group over individual desires.
Education and Self-Improvement:.
Confucianism emphasizes the importance of lifelong learning and personal growth to cultivate virtues and become a better person.
Social Harmony:.
Confucianism aims to create a society where individuals coexist peacefully and respectfully, prioritizing collective well-being over individual ambition.
>> EHang <<
It looks like the Chinese could be well ahead of the US in air-taxi development / rollout. Also check out their ultra modern cities, bullet trains, etc. The US now has a mega competitor, and the world has been steadily gravitating toward China / BRICS.
Guilty as charged...
Grumpy Old Man -
Lou Reed - Rock and Roll
Born to Wander -
KE Holdings Inc. Announces First Quarter 2025 Unaudited Financial Results
May 15, 2025 06:00 ET
| Source: KE Holdings Inc.
BEIJING, May 15, 2025 (GLOBE NEWSWIRE) -- KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE; HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today announced its unaudited financial results for the first quarter ended March 31, 2025.
Business and Financial Highlights for the First Quarter 2025
Gross transaction value (GTV)1 was RMB843.7 billion (US$116.3 billion), an increase of 34.0% year-over-year. GTV of existing home transactions was RMB580.3 billion (US$80.0 billion), an increase of 28.1% year-over-year. GTV of new home transactions was RMB232.2 billion (US$32.0 billion), an increase of 53.0% year-over-year.
Net revenues were RMB23.3 billion (US$3.2 billion), an increase of 42.4% year-over-year.
Net income was RMB855 million (US$118 million), an increase of 97.9% year-over-year. Adjusted net income2 was RMB1,393 million (US$192 million), relatively flat year-over-year.
Number of stores was 56,849 as of March 31, 2025, a 28.6% increase from one year ago. Number of active stores3 was 55,210 as of March 31, 2025, a 29.6% increase from one year ago.
Number of agents was 550,290 as of March 31, 2025, a 24.3% increase from one year ago. Number of active agents4 was 490,862 as of March 31, 2025, a 23.0% increase from one year ago.
Mobile monthly active users (MAU)5 averaged 44.5 million in the first quarter of 2025, compared to 47.7 million in the same period of 2024.
Mr. Stanley Yongdong Peng, Chairman of the Board and Chief Executive Officer of Beike, commented, “Building on the stable market performance and the continued effectiveness of our growth strategy, our business maintained strong growth in the first quarter, with our total transaction value increasing by 34.0% year-over-year and net revenues rising by 42.4%. Our housing transaction services continue to significantly outperform the market. Our platform continually empowers more industry partners, with the numbers of active stores and agents increasing notably by 29.6% and 23.0% year-over-year, respectively, and with improvements in both agent and store efficiency. Our home renovation and furnishing services saw steady revenue growth, achieving a record high in contribution margin, with initial progress in improving customer experience and operational efficiency. The home rental services managed over 500,000 units by the end of the first quarter, with ongoing improvements in operational capabilities. We are also advancing our AI applications, deploying multiple intelligent tools on both the C-end and B-end, enhancing customer experience and boosting service efficiency.”
“Looking ahead, we are confident in the long-term development of our Company under the ‘One Body, Three Wings’ strategy and will continue to invest firmly in AI applications. At the same time, we will be more prudent in other types of investments this year, focusing on the return on investment to strengthen the foundation for safe operations and ensure that shareholders who support the Company’s long-term vision can benefit from our sustainable development,” concluded Mr. Peng.
Mr. Tao Xu, Executive Director and Chief Financial Officer of Beike, added, “In the first quarter, the market performance was very stable, continuing the positive impact resulting from the policies implemented in September last year. National new home sales remained relatively flat year-over-year in the first quarter, better than the substantial year-over-year decline in the same period last year, and the existing home market remained at a high level in activity.
For performance in the first quarter, our net revenues reached RMB23.3 billion, up 42.4% year-over-year. Net revenues from existing home transaction services reached RMB6.9 billion in Q1, up 20.0% year-over-year. Net revenues from new home transaction services reached RMB8.1 billion in Q1, up 64.2% year-over-year. Net revenues from non-housing transaction services grew by 46.2% year-over-year, accounted for 35.9% of total net revenues. Among these, net revenues from home rental services reached a record high of RMB5.1 billion, up 93.8% year-over-year. Our operational efficiency further improved. The operating expenses in the first quarter were RMB4.2 billion, down 31.3% quarter-over-quarter. The profitability also improved. The net income in the first quarter reached RMB855 million, up 97.9% year-on-year. The adjusted net income reached RMB1,393 million.
With robust cash reserves, we continued to reward our shareholders who have grown with us. In the first quarter, we allocated approximately US$139 million to share repurchases, and the repurchased shares accounted for approximately 0.6% of the Company’s total issued shares at the end of 2024.
We will continue to support long-term business development by fully backing our ‘One Body, Three Wings’ strategic initiatives and actively exploring the AI technology.”
About KE Holdings Inc.
KE Holdings Inc. is a leading integrated online and offline platform for housing transactions and services. The Company is a pioneer in building infrastructure and standards to reinvent how service providers and customers efficiently navigate and complete housing transactions and services in China, ranging from existing and new home sales, home rentals, to home renovation and furnishing, and other services. The Company owns and operates Lianjia, China’s leading real estate brokerage brand and an integral part of its Beike platform. With more than 23 years of operating experience through Lianjia since its inception in 2001, the Company believes the success and proven track record of Lianjia pave the way for it to build its infrastructure and standards and drive the rapid and sustainable growth of Beike.
>>> Why is the Fed quietly buying billions in bonds — and hoping nobody notices?
MarketWatch
by Charlie Garcia
May 17, 2025
https://finance.yahoo.com/news/why-fed-quietly-buying-billions-112500917.html
The U.S. Federal Reserve just pulled off something stealthy — over four days last week, without fanfare, the Fed vacuumed up $43.6 billion in U.S. Treasurys. That’s $8.8 billion in long-dated 30-year bonds on May 8 alone, plus another $34.8 billion earlier in the week. Not exactly small change.
Quietly returning to the quantitative-easing trough isn’t standard Fed housekeeping — it’s like a bank robber returning to the scene because he forgot his car keys.
Let’s talk straight: This isn’t tightening. It’s stealth easing. It’s monetary policy on tiptoes. Some traders have begun to notice, and smart investors should too.
Financial analyst Lyn Alden offers a cautious interpretation: the Fed isn’t officially calling this QE. They’re merely reinvesting proceeds from maturing bonds to prevent rapid balance-sheet shrinkage. Technically true— but let’s not fool ourselves. Bond buying is bond buying, whatever bureaucratic label you slap on it.
Commodity traders, in particular, have a nose for monetary sleight-of-hand. Gold, the ultimate financial cynic’s metal, has risen sharply since early 2024. Gold doesn’t believe in politicians, central bankers or economists — even the Ivy League types who wave their hands and promise stability. It believes numbers.
But this isn’t just a U.S. game. China has jumped into the gold pit too, and brings a bigger shovel. China’s central bank just cranked open the vault doors by dramatically raising gold-import quotas, letting local banks swap U.S. dollars directly for bullion.
That’s China quietly telling Uncle Sam that holding all those U.S. Treasurys is starting to feel less like prudent investing and more like playing roulette with the house on fire.
Think about it. Even if China converts into gold a modest 10% of the $784 billion Treasury stash it held as of February, it would send tremors through global markets.
China isn’t hoarding gold because it matches the curtains — it’s preparing for a monetary earthquake. Central banks around the world are doing the same. America just imported a mountain of gold. Nations are bracing for the next seismic shift in global monetary power.
Gold and bitcoin BTCUSD are responding, too — bitcoin because crypto investors distrust central planners; gold because central planners distrust each other. Bitcoin is the back-alley asset that respectable investors pretend they don’t visit. Bitcoin is rising not only due to distrust of central banks and the neat little fiat-currency Ponzi schemes they’ve been running for years — but also because a year ago, bitcoin experienced its latest halving event, pushing it into the typical bullish upswing of a four-year cycle.
There’s more. The Trump administration, previously wary of crypto, has shifted significantly, establishing a U.S. bitcoin strategic reserve — a move signaling institutional-level confidence that bitcoin isn’t just a speculative fad but an asset worthy of strategic importance.
Additionally, institutional and retail money is flowing into bitcoin ETFs — reinforcing bitcoin’s legitimacy as a mainstream financial asset.
If the Fed quietly keeps hitting the QE button, bitcoin might become the investment equivalent of a midnight convenience-store burrito — volatile but satisfying.
For investors willing to bet on the Fed’s recent move, opportunities are plentiful — particularly in places with tangible goods buried underfoot, such as the commodity-rich economies of Latin America and Brazil, an economic powerhouse that is enjoying a commodities-fueled bull run.
This year so far, for example, the iShares MSCI Brazil ETF EWZ and the broader iShares Latin America 40 ETF ILF have each gained about 24%. These aren’t lucky guesses; they’re strategic positions leveraged to benefit from Fed-induced dollar weakness and rising commodity prices.
Brazil’s commodities are like beachfront property when a hurricane’s brewing offshore — a perfect location if you’re on solid ground and prepared for storm season.
The Fed’s stealth QE is the opening act in a larger financial drama. Gold is climbing, bitcoin’s gaining legitimacy and resource-rich economies like Brazil are poised to benefit. Central bankers typically have fewer tells than professional poker players, but right now they’re twitching. And quiet moves by central banks often precede loud market shifts.
Gold, bitcoin and Latin American markets have already enjoyed impressive returns, but the Federal Reserve’s discreet pivot back to quantitative easing suggests that these gains could accelerate.
While QE typically props up U.S. stocks, the stealth of this move — amid declining trust in fiat currencies and rising geopolitical tensions — uniquely positions gold, bitcoin and Latin America as prime shelters, and profitable opportunities, in a brewing financial storm.
Investors paying attention now — before the rest catch wind — stand the best chance of capturing these outsized returns. So pay attention.
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There is something to be said for index funds...
Warren Buffett: How To Select Index Funds To Invest In
Deep Blue vs Kasparov: How a computer beat best chess player in the world - BBC News
Abacus: Small Enough to Jail Trailer #1 (2017) | Movieclips Indie
I was prematurely retired in the 2008-2009 crisis. I have worked part time off and on since then. Now I am fully retired
I got caught up in this BS
Surf, >> full time <<
I retired in 2020, so have become more conservative. Here are the current Core stock holdings (link below, see I-Box), but lots of other stocks on various watch lists -
By Sector - https://investorshub.advfn.com/Stock-Karma-46109
By Market cap - https://investorshub.advfn.com/Buy-Hold-Stocks-42434
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Can I ask if you are doing this full time? I see you have a broad range of topics.
I'm really a smallcap/microcap investor but it is tough going sometimes (I get left behind) so I have also invested in large caps through ETF's i.e GBUG, BOAT, PSCE, MCH.
Yes, I have Chinese stocks, gold and silver stocks, and maritime shipping stocks. Basically any stock I think is undervalued and I can understand. U.S listed Chinese stocks have to overcome negativity i.e China bashing - which has become semi-permanent in the U.S. It is tough going.
One thing I found is that it is about narratives i.e cannabis, crypto, A.I., NFT's, India stocks, Europe, whatever. The game is to catch "legitimate" narratives with a margin of safety
Surf, Just curious if you own any Chinese stocks? Years ago I had several (BYD, NetEase), but sold them after the US-China relations soured and the US started delisting some of the Chinese stocks. Looks like BYD has resumed its upward trajectory. Buffett / Berkshire had a sizable position in BYD at one time, took some big gains, but still have a modest position.
Any stocks that you are liking right now? I see you are a metals guy, so are you mostly into the miners, or perhaps some of the royalty stream group, like FNV, RGLD, WPM? There's a miner in Australia I've been checking out as a possible LT buy / hold -- Northern Star Resources (NESRF), and another possible LT stock is Idaho Strategic Resources (IDR).
Thanks for any ideas / insights :o)
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Thanks. I'm just trying to do this jigsaw puzzle. So far: jigsaw puzzle 8 surfer 0
Indeed.
Video of Trump's granddaughter singing in Mandarin shown at banquet
Surf, That's a great version of 2000 Light Years :o)
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Stones -
Open My Eyes -
Catch the wave -
Warren Buffett reveals his secret to buying and selling PetroChina | BRK 2008 ?C:W.B Ep.420?
Warren Buffett Backs BYD: The Smart Investment in Electric Vehicle Revolution
>>> BYD Company Limited (BYDDF), together with its subsidiaries, engages in automobiles and batteries business in the People's Republic of China, Hong Kong, Macau, Taiwan, and internationally. It operates in two segments, Mobile Handset Components, Assembly Service and Other Products; and Automobiles and Related Products and Other Products.
The Mobile Handset Components, Assembly Service and Other Products segment manufactures and sells mobile handset components, such as housings and electronic components; and offers assembly services.
The Automobiles and Related Products and Other Products segment is involved in the manufacturing and sale of automobiles, and auto-related molds and components; rail transport and related business; and provision of automobile leasing and after sales services, automobile power batteries, lithium-ion batteries, photovoltaic, and iron battery products. The company develops urban rail transportation business. BYD Company Limited was founded in 1995 and is headquartered in Shenzhen, China.
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https://finance.yahoo.com/quote/BYDDF/profile/
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>>> Beijing has issued first rare earth magnet export permits, Volkswagen suppliers on the list
Reuters
May 13, 2025
https://finance.yahoo.com/news/exclusive-beijing-issued-first-rare-123315977.html
(Reuters) - China has issued export permits to at least four rare earth magnet producers including suppliers to Volkswagen, the German carmaker and industry sources said, the first granted since Beijing restricted shipments last month and a sign that the critical materials will continue to flow.
Baotou Tianhe Magnetics, which makes the magnets used in electric and hybrid car motors, received a licence for Volkswagen in late April, three sources said. One of the sources added that the automaker had reached out to Beijing to help during the process.
"We remain in close contact with our suppliers and have received indications that a limited number of Volkswagen AG’s magnet suppliers have been granted export licenses by the Chinese government," Volkswagen said in response to questions from Reuters, declining to provide further detail.
Zhongke Sanhuan received at least one permit, two of the sources said. Baotou INST Magnetic and Earth-Panda Advanced Magnetic Material were also granted at least one permit, one of the sources added.
The sources declined to be named due to the sensitivity of the matter.
The four magnet producers and China's commerce ministry did not immediately respond to requests for comments.
Export licenses are granted for each customer and it is unclear whether all clients of the four firms have been cleared by Beijing. One of the sources said permits were only issued to suppliers for customers in Europe and Vietnam.
However, the permits were issued before the trade war truce agreed with Washington on Monday, which industry sources said is likely to make it easier for U.S. customers to win approvals.
Beijing issued the permits less than a month after it imposed restrictions on seven rare earth elements and related materials as part of a response to U.S. President Donald Trump's earlier tariffs, bucking industry expectations of a long wait.
The sources said the permits were the first to be issued since Beijing imposed its curbs.
China dominates the processing of the 17 rare earth elements used across clean energy, defence and automaking and companies have few, if any, alternative suppliers.
That dependence is demonstrated by Volkswagen's intervention as well as lobbying from other big Western users. Elon Musk said last month Tesla was in talks with Beijing over licenses for its Optimus robots.
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>>> Binance Holdings Ltd., branded Binance, is the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high-frequency trading software. Binance was initially based in China, then moved to Japan shortly before the Chinese government restricted cryptocurrency companies. Binance subsequently left Japan for Malta and currently has no official company headquarters.
Binance has been the subject of lawsuits and challenges from regulatory authorities throughout its history. As a result, Binance has been banned from operating or ordered to cease operations in some countries, and has been issued fines. In 2021, Binance was put under investigation by both the United States Department of Justice and Internal Revenue Service on allegations of money laundering and tax offenses.[8][9][10] The UK's Financial Conduct Authority ordered Binance to stop all regulated activity in the United Kingdom in June 2021.[11] That same year, Binance shared client data, including names and addresses, with the Russian government.[12]
In November 2023, the company pleaded guilty in a US federal court to money laundering, unlicensed money transmitting, and sanctions violations...
...2024-present
In March 2025, The Wall Street Journal reported that the family of Donald Trump through World Liberty Financial had entered into talks with Binance to acquire a stake in the US arm of the business. This coincided with a push from Zhao to receive a presidential pardon for his felony conviction. According to unnamed sources cited by the Wall Street Journal, Trump advisor Steve Witkoff was involved, although his office denied this. According to the Wall Street Journal, a pardon from President Trump would simplify a revival of Binance's presence in the US.[82][83] On March 12 2025, it was announced that the Abu Dhabi government-backed investment fund MGX Fund Management Limited had made a minority $2 billion investment in Binance.[84]
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https://en.wikipedia.org/wiki/Binance
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>>> US, China reach deal to cut trade deficit, US officials say, details on Monday
Reuters
by Emma Farge and John Revill
5-11-25
https://www.msn.com/en-us/money/economy/us-china-reach-deal-to-cut-trade-deficit-us-officials-say-details-on-monday/ar-AA1EzdxL?ocid=TobArticle
GENEVA (Reuters) -U.S. Treasury Secretary Scott Bessent on Sunday reported "substantial progress" in U.S. talks with China's top economic officials to de-escalate a damaging trade war, but offered no details of an agreement reached as two days of negotiations wrapped up in Geneva.
Bessent told reporters that details would be announced on Monday and that U.S. President Donald Trump was fully aware of the results of the "productive talks."
U.S. Trade Representative Jamieson Greer, who participated in the talks with Bessent, Chinese Vice Premier He Lifeng and two Chinese vice ministers, described the conclusion as "a deal we struck with our Chinese partners" that will help reduce the $1.2 trillion U.S. global goods trade deficit.
"And this was, as the Secretary pointed out, a very constructive two days. It's important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought," Greer said, adding that the Chinese officials were "tough negotiators"
The meeting was the first face-to-face interaction between Bessent, Greer and He since the world's two largest economies imposed tariffs well above 100% on each other's goods.
Although Bessent has said the bilateral tariffs were too high and needed to come down in a de-escalation move, he did not offer any details of reductions agreed and took no questions from reporters.
Earlier, White House economic adviser Kevin Hassett said the Chinese were "very, very eager" to engage in discussions and rebalance trade relations with the United States.
Hassett also told Fox News that more foreign trade deals could be coming with other countries as soon as this week.
Overnight, Trump gave a positive reading of the talks, saying the two sides had negotiated "a total reset... in a friendly, but constructive, manner."
"A very good meeting today with China, in Switzerland. Many things discussed, much agreed to," Trump posted on his Truth Social platform.
"We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!," Trump added, without elaborating on the progress.
Speaking on "Sunday Morning Futures" on Fox News with Maria Bartiromo, Hassett said Beijing is eager to re-set trade relations with the United States.
"It looks like the Chinese are very, very eager to play ball and to re-normalize things," Hassett said.
Hassett also said more trade deal announcements could be imminent following last week's announcement of an agreement with the United Kingdom. He said he had been briefed by Commerce Secretary Howard Lutnick on two dozen pending deals in development with USTR Greer.
"They all look a little bit like the UK deal but each one is bespoke," Hassett said.
GATED VILLA
The negotiating teams met at the gated villa of Switzerland's U.N. ambassador, overlooking Lake Geneva in the leafy suburb of Cologny. Black Mercedes vans with sirens shuttled to and from the venue, which was bathed in bright sunshine.
Neutral Switzerland was chosen as the venue following approaches by Swiss politicians on recent visits to China and the United States.
Washington is seeking to reduce its $295 billion goods trade deficit with Beijing and persuade China to renounce what the United States says is a mercantilist economic model and contribute more to global consumption, a shift that would require politically sensitive domestic reforms.
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