Hail and rainstorm killed 160 people in 11 provincial regions, mainly along the mighty Yangtze River and its distributaries, and have left 28 missing, state-run Xinhua news agency reported.
China, a relative newcomer to the space age, has topped the list of countries contributing to space debris, reports to a study by the Russian space agency Roscosmos.
Home-grown companies, including electronics manufacturing services (EMS) firm Dixon Technologies and mobile device maker Lava International, have started exploratory talks with Chinese sub-assemblies and component players for setting up joint ventures (JVs) in the country. Sources in the industry say many domestic companies have also had preliminary discussions with original design manufacturers (ODMs) in China to look at a JV model for manufacturing smartphones. Key ODM players in mobile devices in China include Longcheer, Huaqin, and Wingtech, which has already set up a plant in Tirupati.
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China is battling a property downturn, industrial overcapacity, sluggish demand and struggling exports.
Global rating agency Moody's on Monday said the high commodity prices and supply chain disruptions due to further escalation in the Russia-Ukraine crisis could expose about 42 per cent of rated Indian companies to significant risks. They are mainly in the oil and gas and automotive sectors. The impact may be seen under two scenarios: first, revised base line and second being downside economic scenarios incorporating a global recession and a more severe liquidity squeeze, it said. The military conflict between Russia and Ukraine is impacting companies in Asia Pacific, adding to existing challenges from supply chain disruption and the coronavirus pandemic.
Chinese Premier Premier Li Keqiang said world economic recovery should not be driven by mainly China, but in concert with many countries.
Ren Guoqiang, a spokesperson of the Chinese defence ministry, in a statement said, "Chinese armed forces have also shown a high level of restraint with an eye to the general bilateral relations and the regional peace and stability."
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