China and Asean to submit upgraded free trade deal to leaders in October, says China's foreign minister
SHANGHAI (Reuters): China and the Association of South-East Asian Nations have agreed to submit a pact upgrading their free trade areas to their leaders for approval in October, according to China's foreign minister Wang Yi on Saturday.
Negotiations about the so-called 3.0 version of the free trade zone started in November 2022 and were completed in May, seeking to cover areas such as the digital economy, green economy and supply chain connectivity.
China and ASEAN also agreed on a five-year action plan that specifies collaboration between the two sides in over 40 fields in the coming years, according to a statement published by the Ministry of Foreign Affairs, citing Wang's comments after attending the East Asia Summit in Kuala Lumpur on Friday.
Wang also said the two sides agreed to strive to complete consultations next year on a code of conduct in the South China Sea - a set of guidelines aiming to manage disputes in the region, where Beijing and several Asean members have overlapping maritime claims.
Meanwhile, US Secretary of State Marco Rubio said on Friday he had "positive and constructive" talks with Chinese Foreign Minister Wang Yi, as the two major powers vied to push their agendas in Asia at a time of tension over Washington's tariff offensive.
The top US diplomat was in Malaysia on his first Asia trip since taking office, seeking to stress the US commitment to the region at the East Asia Summit and Asean Regional Forum, where many countries were reeling from a raft of steep U.S. tariffs announced by US President Donald Trump this week.
Rubio also had his first in-person talks with China's foreign minister, which came after Beijing warned Washington against reinstating hefty levies on its goods next month and threatened retaliation against nations that strike deals with the US to cut China out of supply chains.
(Reporting by Shanghai and Beijing Newsrooms; Editing by William Mallard) - Reuters
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Borneo Post
an hour ago
- Borneo Post
China's innovative solutions propel global shifts toward smarter, greener industries
A staff member sets parameters before welding at Guangdong Lyric Robot Automation Co., Ltd. in Huizhou, south China's Guangdong Province, June 27, 2025. (Xinhua/Deng Hua) GUANGZHOU (July 14): As global industries accelerate their transition toward intelligence and sustainability, China's innovative solutions form vital components of international supply chains, driving cross-sector transformation. SMARTER FACTORIES At Guangdong Lyric Robot Automation's Huizhou facility in south China, an automated warehouse operates efficiently with only two staff members. Materials glide autonomously through storage systems, arriving precisely at workstations as needed. A central control screen displays real-time inventory levels, material usage frequency, and shelf capacity. 'This system cuts operational costs by over 30 percent while boosting productivity by 40 percent,' said Duan Yajie, general manager of Lyric subsidiary Shunchu Intelligence. Overseas orders for such integrated solutions now constitute over 40 percent of the subsidiary's total business. Lyric's intelligent factories serve industry leaders across six countries. From battery plants in North America to a comprehensive automotive logistics center in Hungary, as well as sectors like renewable energy and AI computing, Lyric has supported clients in establishing digital factories using technologies such as intelligent sensing, precision control and execution systems. With subsidiaries in 14 countries, including the United Kingdom, Poland, France, Switzerland, Germany, Canada, and the United States, Lyric has navigated cross-cultural challenges through co-developed standards. 'Building consensus during the design phase helps prevent conflicts during implementation,' Lyric's co-founder Lu Jiahong said. 'Once rare on European streets, electric vehicles are now increasingly common, reflecting the combined efforts of Chinese equipment, battery and auto manufacturers,' she added. POWERING ENERGY REVOLUTION EVE Energy Co., Ltd., a leading Chinese lithium battery company headquartered in Huizhou, Guangdong Province, is advancing its global manufacturing strategy with a new battery production base in Hungary's Debrecen. The facility represents a transformative industrial upgrade for the region, introducing advanced manufacturing systems where agricultural production once dominated the local economy. 'We're bringing advanced industrial production to this region, creating employment while accelerating the energy transition,' stated EVE vice president Jiang Min. He added that the Debrecen base is scheduled to begin production in late 2026, while their overseas facility in Malaysia is already operational. Ranked fourth globally in cylindrical battery shipments and second in energy storage capacity for 2024, EVE Energy operates 12 production bases across Asia, Europe and North America. Its power batteries supply premier global automakers including Mercedes-Benz, BMW and Jaguar Land Rover. According to Jiang, the company continues to expand investments in carbon-reduction technologies. It has recently established a comprehensive resource recovery ecosystem with over 10 partners. 'Collaborative expansion across the industrial chain creates mutual benefits,' Jiang said. A staff member operates a robot to perform synchronous action at a provincial embodied artificial intelligence robot innovation center in Shenzhen, south China's Guangdong Province, June 25, 2025. (Xinhua/Deng Hua) VISION FOR INTELLIGENT MACHINES At Orbbec's Shenzhen exhibition hall, a food-delivery robot navigates through display areas, skillfully avoiding obstacles. This agility comes from its 3D vision sensors, powered by the proprietary 'MX6600' chip, which measures about 9 square millimeters. This chip processes depth-sensing data to enable high-precision spatial mapping. Currently, 7 out of 10 service robots in China use Orbbec sensors, while international clients grew by 77 percent year on year to 1,469 in 2024, including major companies like Nvidia and Microsoft. 'We concentrate on foundational technologies,' said Huang Yuanhao, founder of Orbbec. 'We are one of the few companies worldwide to cover all major 3D vision perception technology approaches, serving global robotics enterprises across various sectors, such as smart factories, warehouse logistics, construction automation, and intelligent inspection,' he added. Orbbec also offers rapid technical support to better serve its global users. 'Some of our products have demanding technical service requirements, and excellent service is a major factor why overseas users choose us,' said Orbbec's CFO Chen Bin. China's global engagement is transitioning from manufacturing exports to integrated technological empowerment, said Yang Boru, professor at the School of Electronics and Information Technology, Sun Yat-sen University in Guangdong. As these innovative solutions expand worldwide, they have become key drivers of intelligent and sustainable industrialization, he added. – Xinhua China industrial innovation robotics supply chain
The Star
2 hours ago
- The Star
At least 15 killed in sectarian clashes in Syria's Sweida – witnesses, medics
AMMAN (Reuters) -More than fifteen people were killed and dozens injured in Syria's predominantly Druze city of Sweida in the latest bout of sectarian clashes between Druze gunmen and Bedouin Sunni tribes, witnesses said on Sunday. The violence erupted after a wave of kidnappings, including the abduction of a Druze merchant on Friday on the highway linking Damascus to Sweida, witnesses said. Unlike similar clashes last April, which pitted Sunni fighters against armed Druze residents of Jaramana, southeast of Damascus, and later spread to another district near the capital—this is the first time the fighting has erupted inside the city of Sweida itself, the provincial capital of the mostly Druze province. 'This is the first time sectarian fighting has erupted within the city of Sweida. This cycle of violence has exploded in a terrifyng way and if it doesn't end we are heading toward to a bloodbath," said Rayan Marouf, a Druze researcher based in Sweida who runs the Suwayda24 website. The clashes, involving Bedouin tribal fighters and Druze militias, were centered in Maqwas neighborhood east of Sweida which is inhabited by Bedouin tribes, which was encircled by armed Druze groups and later seized. Armed Bedouin tribesmen also launched attacks on Druze villages on the western and north outskirts of the city, residents said. A medical source told Reuters that at least 15 bodies had been taken to the morgue at Sweida's state hospital. Around 50 people were injured, with some transported to Deraa city for medical care. The violence marked the latest episode of sectarian bloodshed in Syria, where fears among minority groups have surged since Islamist-led rebels toppled President Bashar al-Assad in December, installing their own government and security forces. Those concerns intensified following the killing of hundreds of Alawites in March, in apparent retaliation for an earlier attack carried out by Assad loyalists. It was the deadliest sectarian flare-up in years in Syria, where a 14-year civil war ended last December with Assad fleeing to Russia after his government was overthrown by rebel forces. (Reporting by Suleiman Al-Khalidi; editing by Diane Craft)
Malaysian Reserve
3 hours ago
- Malaysian Reserve
IOVA Deadline: IOVA Investors with Losses in Excess of $100K Have Opportunity to Lead Iovance Biotherapeutics, Inc. Securities Fraud Lawsuit
NEW YORK, July 13, 2025 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, reminds purchasers of Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) securities between May 9, 2024 and May 8, 2025, both dates inclusive (the 'Class Period'), of the important July 14, 2025 lead plaintiff deadline. So What: If you purchased Iovance securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. What to do next: To join the Iovance class action, go to call Phillip Kim, Esq. at 866-767-3653 or email case@ for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 14, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Details of the case: According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) new Authorized Treatment Centers ('ATCs') were experiencing longer timelines to begin treating patients with Amtagvi; (2) Iovance's sales team and new ATCs were ineffective in patient identification and patient selection for Amtagvi, leading to higher patient drop-offs; (3) the foregoing dynamics led to higher costs and lower revenue because ATCs could not keep pace with manufactured product; and (4) as a result of the foregoing, Defendants' positive statements about Iovance's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. To join the Iovance class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email case@ for more information. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Kim, Rosen Law Firm, P.A.275 Madison Avenue, 40th FloorNew York, NY 10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212) 202-3827case@
