• Business

US Commerce Secretary: Beijing opposing chip bill, fears losing its edge

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 ...

The US considers lifting China Trade Tariff’s to tame inflation

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. ...

How China devastated its own land: Now grabs it worldwide

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 ...

Foreign businesses demand China relax zero covid policy

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 ...

U.S. business staff refuse to relocate to China

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’s “white-list” companies encounter logistic issues when resume work

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 ...

China’s import of Iran oil slumps, Russian grows

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 ...

Beijing strengthens control over emigration through overseas investments

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 ...

Chinese tech giants quietly quitting Russia

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 may be another reason for Opec’s hesitation to ease oil prices

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 ...

The US reviews China Trade War Tariffs amid inflation risk

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. ...

China Zero-Covid policy seriously affecting iPhone production in Zhengzhou

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 ...