China Business & Economy

Chinese State Media Reports New Zealand to Upgrade Trade via Belt and Road

New Zealand and China will upgrade its free trade agreement (FTA) within the framework of the controversial Belt and Road Initiative (BRI), according to a report by Chinese Global Television Network (CGTN) on Sept. 25. Gao Feng, a spokesperson from the Chinese Ministry of Commerce…

Chinese Farmers Cry For Help as Rice Crops are Ruined Due to Flooding

After severe flooding in central and southern China, ruined rice crops have left many farmers struggling. After heavy rainfall in the past half-month, some rice crops began to sprout, meaning they can no longer be harvested. China’s National Meteorological Center has forecasted that more rain…

China Evergrande: A Canary in the Coal Mine?

News Analysis China Evergrande, mainland China’s largest property developer by sales volume, has been under pressure lately from investors dumping its stocks and bonds on fears that the company—a bellwether for China’s real estate sector—is in dire financial straits. The developer is highly indebted, and…

China Evergrande Shares, Bonds Suffer Sell-Off on Cash-Crunch Concern

HONG KONG—Investors sold off China Evergrande Group shares and bonds on Friday after a leaked document allegedly showed the nation’s second-biggest property developer by sales sought government help to avert a cash crunch. The document showed Evergrande asked a local government to support a Shenzhen…

China’s Post-Pandemic Recovery Has Severe Regional Imbalances—Survey

BEIJING—While China’s coastal provinces and major cities are recovering from the coronavirus pandemic, firms in its poorer western and central provinces are falling well behind in metrics like output and sales revenue, a private survey showed on Thursday. The majority of firms are recovering far…

EU Launches Investigation Into Chinese Optical Fiber Cable Imports

BRUSSELS—The European Commission launched an investigation on Thursday into imports of optical fiber cable from China, which EU manufacturers believe are being sold in Europe at artificially low prices. The case comes as the 27-member European Union wants the digital economy to be a key…

Huawei Cuts $100 Million of Investment Following Australian Government’s 5G Ban

Huawei has cut $100 million of proposed research and development, as well as 1,000 jobs, in response to being banned from developing Australia’s 5G network in 2018 over national security concerns. Jeremy Mitchell, Huawei Australia’s chief corporate affairs officer, said the company had cut a…

Australia at Risk of Losing Ground to China in Pacific: Expert

One of Australia’s highest foreign policy priorities, the Pacific Step-up, is at risk of losing ground to China if the federal government ignores the region’s needs, a strategic expert has claimed. Beijing is moving to control vital trans-Pacific sea lines of communication under the guise…

China to Lose Access to Space Tracking Station in Australia

SYDNEY—China will lose access to a strategic space tracking station in Western Australia when its contract expires, the facility’s owners said, a decision that cuts into Beijing’s expanding space exploration and navigational capabilities in the Pacific region. The Swedish Space Corp. (SSC) has had a…

Owner of China-Listed Finance Company Indicted for Organized Crime

Several major news websites in mainland China reported on Sept. 17 that the China-listed investment holding company China Create Capital Limited announced its owner, Zhang Wei, has been indicted on 11 counts of heading a “mafia-style gang” and illegally raising public funds. As previously reported …

Chinese Fintech Giant Poses Risks to US Investors, Warns Advocacy Group

WASHINGTON—A financial affiliate of Chinese e-commerce giant Alibaba is set to go public and a sizeable portion of the funds raised will come from U.S. investors, raising alarms in Washington. Chinese financial technology firm Ant Group Co. is preparing for an initial public offering in…

Beijing Further Cracking Down on P2P Industry and Its Victims: Leaked Documents

China has started shutting down the popular internet finance platform P2P (peer-to-peer lending) since 2018. Just five years ago, P2P, with the backing and promotion of the Chinese regime, became the cutting-edge investment product in China, drawing trillions of funds from private investors. However, P2P…

Chairman of Top Chinese Conglomerate HNA Group Barred From Flying, Vacationing

BEIJING—The chairman of cash-strapped HNA Group has been barred from taking flights and high-speed trains and going on vacations due to the Chinese conglomerate’s failure to pay a court-ordered $5,300 in a lawsuit, a court document showed. The once high-flying company, which owns Hainan Airlines,…

China XD Plastic Sued in the U.S. by Shareholders

Amid U.S. scrutiny of Chinese companies listed on U.S. exchanges, American shareholders recently filed a class-action lawsuit against China Xinda Plastic Company Limited (China XD), which is listed on the Nasdaq. On July 7, New York-based law firm Brodsky and Smith filed a lawsuit on…

China in Focus: Chinese Firm Collects Data of Millions Across the Globe

Washington’s ban on Chinese tech giant Huawei is taking effect this Tuesday. The tech giant may have to withdraw from high-end smartphones and the 5G equipment market. A Chinese tech company with close ties to the communist regime is collecting the data of nearly 2.4…

Chinese City Goes on Full Lockdown After Confirming Two CCP Virus Infections

Chinese authorities locked down Ruili city in southwestern Yunnan Province on Sept. 14, mandating that anyone who wants to enter or leave the city must apply for a special permit. Yunnan governor Ruan Chengfa announced on Monday that regions that border Burma, Laos, and Vietnam…

Sen. Tom Cotton Announces Bill to Strip China of ‘Most Favored Nation’ Status

Sen. Tom Cotton (R-Ark.) on Monday said he will introduce new legislation this week that would cut China’s special trade privileges by revoking its permanent most favored nation status, formally known as the permanent normal trade relations (PNTR) designation, and instead revert to a prior…

Wall Street Doubles Down on China Despite Geopolitical Uncertainty

News Analysis The largest Wall Street banks and fund managers are stepping up their presence in China despite escalating tensions between Beijing and Washington. U.S. asset managers are making moves to establish a beachhead. BlackRock, the world’s biggest asset manager, has received Beijing’s approval to…

Samsung to Stop Production at Sole China TV Factory by November

SEOUL—Samsung Electronics has decided to cease production at its only TV factory in China by the end of November, a spokesman said on Monday, the latest in a series of moves by the South Korean firm to shift production from the world’s second-largest economy. The…

Should US Chipmakers Fear China’s Semiconductor Ambitions?

News Analysis U.S. technology stocks suffered the biggest two-day loss since March on Sept. 3 and 4. Leading the way downward were U.S. chipmakers which underperformed the broader sector following news that China is planning policy changes to boost its domestic semiconductor industry. The stock…

Leaked Reports Reveal Financial Crisis in China’s Dalian City

China’s gross domestic product (GDP) numbers have long been questioned by the international community due to its lack of transparency. Data from recently leaked government internal documents from Dalian city of Liaoning Province reveal a grim picture of China’s economy amid the resurgence of COVID-19…

US to Move Ahead with Taiwan Trade Deal, Expects Beijing’s Ire

WASHINGTON—As the United States moves forward with talks toward a bilateral trade deal with Taiwan, the State Department is expecting backlash from the Chinese regime, while hoping for the best. The Chinese Communist Party has a long history of retaliating against other country’s decisions that…

Report Outlines a Decade of Beijing’s Coercive Diplomatic Tactics

For the last ten years, the Chinese Communist Party (CCP) has used bullying “grey zone” diplomatic tactics to manipulate foreign governments and companies into helping achieve the regime’s core communist agenda. The Australian Strategic Policy Institute laid out the tactic in its new report, published…

Beijing Bans Barley Exports From Australian Grain Cooperative

Beijing has suspended barley imports from Australia’s top grain exporter claiming pests were found in multiple shipments, in what appears to be the latest trade strike by the Chinese regime against Australian exports. West Australian grain handler CBH Group vowed to fight the “extremely disappointing”…

CCP Scrubs State Media Report Raising Concerns Over COVID-19 Vaccine From Internet

Amid China’s race to develop a vaccine for the CCP virus, specialists recently told Chinese state-run media the risks of an adverse reaction known as antibody-dependent enhancement (ADE), but within hours, the report was removed and reposts were scrubbed from the internet. The human body…

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