Business

Tech 05/14/22, 06:11

According to Reuters, Commerce Secretary Gina Raimondo said on May 11 that China opposes the U.S. huge chip bill because it will give the world's largest economy a competitive advantage. On May 12, the U.S. will step up formal negotiations on a compromise measure that would invest 52 billion dollars in ...

Economy 05/13/22, 12:13

U.S. inflation has reached a record high since December 1981, and President Biden said dropping China tariffs could be an option to lower consumer prices. Trump imposed tariffs on China’s imported products to punish China’s allegedly unfair trade practices. The policy protects domestic business but is about to expire this July. ...

China 05/12/22, 01:44

A chemical engineer will be serving 14 years in prison and pay a 200,000 dollars fine for economic espionage and trade secrets theft for China. Prosecutors say 59-year-old Xiaorong You, aka Shannon You, from Michigan, stole trade secrets about materials used in cans for soda and other drinks to benefit the ...

In-depth Reports 05/11/22, 03:13

Nature has always been one of the most revered cosmic aspects in classical Chinese culture. It is the scenario of the interaction of the forces that govern the relationship between Heaven and Earth, and human beings. And it is also the source of sustenance and social stability. In this sense, Chinese ...

China 05/11/22, 01:12

A growing number of American and Western companies are considering moving their investment out of the world’s second-biggest economy due to its strict Covid approach. They are urging Beijing to adjust the policy. CNN reported, that under the government’s Zero covid strategy, at least 31 cities are under full or partial ...

China 05/11/22, 00:46

China is now dealing with a more contagious COVID variant and waning public anger due to its 'Zero-COVID' policy. The business community is now also affected by the sweeping lockdowns across the country. According to Reuters, the American Chamber of Commerce in China (AmCham China) said on May 9 that American ...

China 05/11/22, 00:44

According to the Chinese government mouthpiece Global Times, 70% of Shanghai's 1,800 essential industrial businesses have resumed operations. However, a survey showed that around half of the companies operate at one-third of the total capacity. The survey results were reported by Sina Finance from the Shanghai Securities News. It collected input ...

Economy 05/11/22, 00:31

April data analysis shows China is reducing Iran oil import and focusing on the more affordable Russian suppliers. As Reuters reported on May 9, preliminary estimates from Vortexa Analytics revealed that on a daily basis, China bought around 650,000 barrels of Iranian crude last month. A decrease from 700,000 barrels per ...

Economy 05/10/22, 23:39

According to documents that made it to the mainland internet, China is issuing new rules that would constrain wealthy Chinese from emigrating overseas. Radio Free Asia reported screenshots of the documents on May 2, which appeared to have come from the Chinese Ministry of Justice and the notarial association. The rules require ...

Tech 05/09/22, 08:39

According to its 2021 financial report, Unique Technology Co. Ltd. (UCloud) experienced two consecutive bad years with accumulated losses of nearly 1 billion yuan ($150 million). The significant drop in its stock price has wiped out almost 90% of its market value. Total revenue has seen an upward trend since 2018 ...

Tech 05/09/22, 07:58

Chinese technology companies such as Lenovo and Xiaomi are quietly pulling their operations out of Russia following its invasion of Ukraine. According to Apollo News, these Chinese tech giants are worried about U.S. sanctions and under pressure from suppliers, although the Chinese government has called on them to resist overseas coercion. During ...

China 05/09/22, 07:14

The BBC published an article on May 4 explaining why OPEC refused to increase output to lower oil prices. Since the war outbreak between Russia and Ukraine, global oil prices have skyrocketed, surpassing 100 dollars a barrel, the highest mark in eight years. According to the BBC, President Biden has repeatedly asked ...

Economy 05/08/22, 06:37

Most Japanese factories in Shanghai and several European enterprises remain closed down, while Beijing claimed that most of them are "back-to-work." According to a survey published by the Shanghai Japanese Commerce & Industry Club on May 05, nearly two-thirds (63%) of Japanese factories in Shanghai have not resumed any production yet. Meanwhile, ...

Insights 05/06/22, 00:14

To combat rising inflation, America is considering lifting billions of dollars in tariffs that the Donald Trump administration imposed on Chinese products 4 years ago. Average U.S. tariffs on Chinese exports remain elevated at 19.3%. These tariffs are more than six times higher than before the trade war began in 2018. ...

Tech 05/05/22, 22:33

Zhengzhou, another megacity in Henan province, China, has announced a total lockdown from May 4 to May 10 as part of the Covid prevention and control measures. Authorities detected 4 new confirmed cases and 10 asymptomatic carriers on May 4, South China Morning Post reported. The Zhengzhou Epidemic Control Center announced ...

Economy 05/05/22, 02:55

According to Reuters, the U.S. Securities Exchange Commission will investigate Didi Global over its $4.4 billion initial public offering in the U.S. in June last year. In its annual filing on Monday, the Chinese ride-hailing giant said that it was cooperating with the U.S. securities regulator regarding the investigation related to ...