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Viva China Holdings Ltd, major shareholder of Chinese sportswear group Li Ning Co Ltd, will take a controlling stake in Clarks, one of the UK"s oldest shoe producers, if the company's extraordinary general meeting approves next Wednesday. According to the file Viva China released on Hong Kong Exchanges and Clearing on May 26, the group aims to expand its multi-brand apparel and footwear business. The transaction follows its acquisition of a controlling stake in casual wear brand Bossini in July 2020 and Amedeo Testoni, a century-old Italian luxury brand, in early 2022. Compared with Clarks' revenue of 1.37 billion pounds

President to chair summit that is set to put forward blueprints for future cooperation President Xi Jinping is set to chair a virtual summit on Tuesday to commemorate the 30th anniversary of the establishment of diplomatic ties between China and five Central Asian countries-a move that shows China's commitment to strengthening trade, investment and security cooperation for regional prosperity and stability, analysts said. The five Central Asian countries are the former Soviet republics of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. As the first heads of state meeting between China and the Central Asian countries, the summit is crucial because the

BEIJING -- China strongly protests US sanctions imposed against 12 Chinese companies and will lodge solemn representations with the United States, according to the Ministry of Commerce (MOC) on Thursday. The United States has overstretched the concept of national security and imposed sanctions arbitrarily, MOC spokesperson Shu Jueting told a press conference in response to questions regarding the US blacklisting of Chinese companies. "This action seriously lacks a factual basis, and its procedures are very opaque," she said. The new sanction list introduced by the US Department of Commerce does not conform to the consensus reached by the two heads