ngo's in april, which accused the companies of continuing to martin -- market goods produced in shenzhen using the forced labor of uighurs. the government has reiterated that it has zero tolerance for forced labor. on french company said it would cooperate with french authorities to prove the allegations false. another friend said it had not been contacted by french authorities, insisting none of its manufacturing partners are located in change in -- in shenzhen and that it's products are free of forced labor. washington's decision to b products produced in the north region of china is due to suspected human rights violations in shenzhen. the european union, britain, and canada have imposed sanctions on chinese officials over their treatment of uighurs. let's bring back the deputy dean of education at the government university of essex. thank you very much for joining us. critics have said the u.s. withdrawal from bagram was irresponsible given the absence of any kind of peace deal with taliban. what are your thoughts? >> the biden administration felt that their presence there was not re

china has hit out against the united states after antony blinken met with muslims in the northwest shenzhenason -- region. afghan special forces have been deployed to push tell event fighters out of the north and provincial capital. fighting reached the city's outskirts. this all comes since western forces have largely withdrawn from the afghanistan state. the european commission chief has warned hungry it will face legal action if it fails to reveal a new law that critics say is from nate against the lgbtq community -- discriminates against the lgbtq community. european leaders have described the shooting of a prominent dutch investigative journalist as an attack on our values. peter was gunned down in answered dam on wednesday. he remains in the hospital. authorities are examining possible leaks in his role in a court case against a major gang described by police as a well oiled killing machine. >> a day after one of the netherland's most famous journalist was gunned down, people are gathering where he was shot. he was shot five times, including once in the head and it was an incomprehens

banning the construction of very tall skyscrapers after a 70—story building started to wobble in shenzhention into why the plaza was moving cited three factors — wind, temperature differences inside and out, and vibration from subway trains, creating a phenomenon known as the karman vortex street. trade between china and north korea has fallen to a record low amidst the pandemic and food shortages. as books from the mainland to pyongyang fell more than 80% in the first half of this yet — significant as north korea is highly dependent on china for basics like food and fuel. space is big business. this week marks the anniversary of two memorable chapters in the history of space exploration. july 20, 1969, apollo 11 landed on the moon. the spacecraft was close to running out of fuel, and the space industry followed the means to the missions. ten years ago this week, the space shuttle atlantis landed, becoming the last shuttle ever to be used. all the royal albert hall will open at full capacity dear dave for the first time since march last year. the reopening event is a concert to celebrate

the many countries caught up in a global housing frenzy, sparking bidding wars from new york to shenzhenrices are rising at the fastest rate since the financial crisis. let's take a light at the impact with emily cabin. we know the table story -- typical story of people investing where they live. there's a lot of things we have not been able to do with the pandemic. what are we seeing here are we seeing here on a global level? emily: what we are seeing on a global level -- we are seeing people get increasingly desperate. i mean, we talked many times and in many countries about just how expensive property prices have got but the story during the lockdown has gotten increasingly crazy. derelict buildings having mansion prices, reports of buyers trying to promise -- just to get that edge in the market. just everywhere, the competition is red-hot. whilst where are talking in some places about cooling, we are talking about a cooling from something that is very abnormal indeed. shery: in australia, a lot of chinese buyers helped send prices higher. with borders locked down, what are you seeing

this is a multi-year crackdown by the chinese government around hong kong and guenzhen and shenzhen whatmate goal? >> i think it is for china to protect its sovereignty. the u.s. said any foreign listing on stock exchange must submit to audit. if they don't comply within three years, they can be delisted chinese government doesn't want to submit sovereignty. prior to the rule the s.e.c. tried to delist the u.s. company based in china, chinese laws took hold. there are bigger issues at play. everybody knows china is looking to be a super power to replace the u.s. that requires tech yousupremacyn military supremacy and stock listings as well >> certainly didi goes public in the states and the chinese government comes out and said you should not have gone public. the stock fell 25% or 30% in one day. a huge crackdown on their data is there a situation, cyrus, where china is the leader? do you think other countries may follow what their doing? a lot of regulatory discussion over here as you know around anti-trust we are knocking china, but maybe they're the first to do it what do you think?

our market coverage continues as we look forward to the start of trade in hong kong, shanghai and shenzhenopen. this is bloomberg. ♪ this is bloomberg. ♪ (announcer) the core is key to losing weight, getting back in shape, and feeling good. introducing the aero trainer, designed to strengthen your core, flatten your stomach, and relieve stress and back pain. it conforms to your body and increases muscle activity. abs, back, obliques, hips, and glutes. get incredible results in just five to ten minutes a day. the aero trainer supports over 500 pounds, and inflates and deflates in seconds. check it out at aerotrainer.com. that's a-e-r-o trainer.com. yvonne: welcome to "bloomberg markets: china open." we are content down to the open of trade in the chinese mainland and hong kong. our top stories, dede warns of adverse impact after beijing forces them to remove apps. china's june traded is out the next hour. bloomberg economics sees marginal declines for exports and imports. top u.s. banks set

in the u.s., so let's get back to the top story, one that will weigh on hong kong, shanghai, and shenzhen market as they open for the week. the tutoring and education tech sector has become the latest target of china's sweeping america tory crackdown. companies that teach all subjects can no longer go public under the new rules. it jeopardizes what has become a $100 billion industry. let's cross over to our executive editor, john liu. there has been concerned for some time, just the myriad players who have popped up. what do we know about what the government is trying to do here? john: there's a number of things the government is trying to accomplish here. one is this tightening of the curriculum, what is taught in schools. our kids getting patriotic education? another thing is this concern about the population and demographics. china's population probably in the next couple of years will tip over into shrinking so parents these days feel like they do not have a choice except to send their kids these afterschool tutoring services because no one wants their child to fall behind and that ha

for example in shenzhen of tencent and this takes us into a broader read when you look at market capthe decline we have seen their. we talked about this last week, the price down 30% also roughly the drawdown when it comes to the market cap. so we have gone from 3 trillion if you put all of these big tech stocks together in china. we are now south of 2.4 and flirting with 2.3 trillion on that side of your screen. so the hit of about 750 billion in terms of the market cap which is taken off the table. yvonne: and talk about their combined fortunes of these billionaires it shrunk by $16 billion from what we have seen so far in the first half of this year. so, china adding more rules for these companies, looking to list overseas is going to add to headaches as regulators tried to boost oversight of the countries tech giants. they target firms holding large amount of user data. now details from our china government reporter. lucille, tell us about the implications of these new rules? >> because the new data review rules apply specifically to companies that want to list in foreign countri

markets coverage continues as we look ahead to the start of trading in hong kong, shanghai, and shenzhenloomberg markets open. this is bloomberg. ♪ and there you have it - wireless on the fastest, most reliable network. wow! big deal! we get unlimited for just $30 bucks. i get that too and mine has 5g included. impressive. impressive is saving four hundred bucks a year. four bucks? that's tough to beat. relax people, my wireless is crushing it. okay, that's because you all have xfinity mobile. it's wireless so good, it keeps one upping itself. david: this is my kitchen table and also my filing system. over much of the past three decades, i have been an investor. the highest calling of mankind, i've often thought, was private equity. [laughter] and then i started interviewing. i watched your interviews, so i know how to do some interviewing. [laughter] i learned from doing interviews how leaders make it to the top. >> i asked him how much he wanted. he said 250. i said, fine. i didn't negotiate with him. i did no due diligence. david: i have something i would like to sell. [laughter] and

the shenzhen index, which is the main index for at home tech stocks in china just hit a new high todaynce 2015, which is the all time high essentially. i know there's concerns, but the in-home stocks in china are doing very well. not so great for the stocks -- chinese stocks listed outside the united states. they've just had a very rough month overall, if you just look at alibaba, a 52-week low on friday tencent was a new low. buy baidu was a low for the year you get the point, who would have thought regulatory or where you're listing risk would be an issue. certainly nobody thought about that five or six or seven years ago. as for the major indices, we're essentially -- let's not quite a bit about a few points we're at new highs small caps have been range bound for a while now. the cyclicals are still under pressure it was really a growth period for june and most of july. i'd say breadth is on the sluggish side, a lot of big tech stocks helped move the markets in june and july earnings folks, big expectations, overly aggressive numbers are going to be a problem. they're going to be a

xi and president biden and earlier a lot of people had been talking about how this discussion in shenzhen to perhaps a meeting with the secretary of state and the foreign minister and then eventually lead to a summit between president xi and biden later in the year. >> that looks like it's off the table, at least off the table for now. eunice yoon, we'll be speaking to you a lot more over the next couple of hours. >>> latest business condition survey shows respondents showing the highest level of profitability on record. steve liesman joins us with the latest on that steve, good morning. >> good morning, andrew. this is an interesting survey. businesses experiencing sharp increase in costs from wages to materials but they're able to overcome them and hitting their highest profitability in the survey's history take a look at profit margins. the net percentage of businesses with profit margins, hitting 35%, the most on record. that beat the april record and far surpassed business profitability before the pandemic profits surged despite rising costs. businesses seek to raise prices by more.