• Business

US says China failed trade commitments on multiple fronts

Economy 02/17/22, 20:22

The Office of the United States Trade Representative (USTR) released a new report on Wednesday, Feb. 16, criticizing China for not meeting its broad trade commitments, including those made when it joined the WTO in 2001 and other commitments made in the Phase 1 Trade Agreement between two countries in ...

Despite China’s embargo, Lithuanian exports hit a 10-year high

Economy 02/17/22, 19:52

On Feb. 13 2022, the Lithuanian state broadcaster (LRT) reported that Lithuanian exports grew significantly, unaffected by the COVID epidemic, geopolitics, and especially the Chinese regime's crackdowns. Lithuanian's merchandise exports increased 20.5 percent year on year. Jonė Kalendienė, head of Enterprise Lithuania's Research and Analysis Division, said, "An overview of the ...

Down feather market in mainland: Counterfeit clothes sold at 10-fold price hike

Insights 02/17/22, 19:11

The feather down-market in mainland China is chaotically profound, with high-end brands squeezing profits by mixing low-quality products among standard ones and selling them at 10 times their actual cost. Sina News reported that the Chinese authorities have recently penalized Yi Nian (Shanghai) Fashion Trading for selling poor quality counterfeit jackets ...

China’s convertible bonds hit low after market cools

Economy 02/17/22, 18:57

BloombergQuint reported on Feb. 14 that the CSI Convertible Bond Index dropped 5.2% in the week after several popular China bonds collapsed, indicating a significant cooling of China's convertible bond market.  Zuo Dayong, an analyst at Industrial Securities, said in a note on Feb. 15 that the values of convertible bonds were "excessively ...

Banks disappear as China tightens measures on small and medium-sized banks

Economy 02/17/22, 18:02

According to Caijing magazine, more than 20 banks "disappeared" in China last year. In addition, the article shows that since 2020, more than 20 small and medium-sized banks have been in the process of mergers and restructuring. Ninety-two bank shares are for sale between February and now, but 60% of them remain unsold. ...

Chinese developers bonds plummet as facing difficulties in fund

Economy 02/17/22, 17:35

Chinese property developer bonds fell on Tuesday, while the Hang Seng mainland properties index fell 1.4% and the CSI300 real estate index fell 1.1%, according to Reuters. The Shanghai Stock Exchange's list of the day's biggest losers was dominated by onshore bonds issued by Logan Group Co. and Shimao Group Holdings ...

After China’s regulatory storm, Chinese firms relaunch IPO’s in US

China 02/17/22, 04:55

VOA reported that more Chinese companies are gearing up for an initial public offering (IPO) on the New York Stock Exchange (NYSE) right after the Lunar New Year. This move perhaps indicates that some Chinese companies ignored the reminders and warnings of Chinese regulators last year when they forced Didi Global ...

Steel industry: Beijing’s consolidation push is not simple as claimed

Economy 02/17/22, 04:34

Beijing, on Feb. 7, released a "Guiding Opinion" that urged steel firms to accelerate mergers and acquisitions (M&A) to form mega steel conglomerates.  Three state departments issued the statement. They were the Ministry of Industry and Information Technology, the Ministry of Ecology and Environment, and the National Development and Reform Commission. Within ...

Hospitals and industrial parks in Suzhou closed due to pandemic

News 02/15/22, 20:10

The pandemic situation in Suzhou, Jiangsu Province, has become more serious, and authorities asked citizens not to leave unless necessary. The whole staff of Suzhou Industrial Park and Wuzhong District are nucleic acid tested. Suzhou Children's Hospital and many other hospitals were closed for emergency treatment. The city's primary and ...

Evergrande’s funds gradually depleted

Economy 02/15/22, 18:36

Many of China Evergrande's projects' escrow accounts are slowly running out, making it impossible to resume construction, according to a source close to Evergrande Chinese-language media, Da Ji Yuan reported. It is usual for a project to have a shortage of several hundred million yuan. China Evergrande still has a vast ...

India concerned about China’s trade retaliation against Australia

Australia & Oceania 02/15/22, 16:11

In an interview with the Sydney Morning Herald published on Feb. 14, India's Foreign Minister Subrahmanyam Jaishankar condemned China's economic moves toward Australia. He said that growth and prosperity over the previous 80 years resulted from a trading system "regulated by laws and not politically influenced." "You know that bit—if it ...

Animal feed price hikes throughout China

Economy 02/15/22, 15:33

Animal feed prices have increased in China as the price of raw materials rises, according to Apollo News. More than 30 animal feed companies across China announced price increases, including New Hope, Tongwei, Anyou, Tiankang, Datai Nong, Kuaida, Baiyi, Longfengtire, Dawang, and Liyuan. According to Guangzhou Feed Association, on Feb. 11, the ...

Mazars accountants stop vouching for Trump organization’s financial statements

New York 02/15/22, 12:47

Consultants questioned the integrity of financial records from hundreds of businesses owned by the former president on Feb. 9. Mazars USA declared Trump Organization financial statements from the past decade cannot be "relied on." "Statements of financial condition for Donald J. Trump for the years ending June 30, 2011–June 30, 2020, should ...

How Inner Mongolia Secretary accumulates $472 million

Economy 02/14/22, 04:19

According to Apollo News, numerous corrupt officials have fallen from power in the Chinese Communist Party (CCP) in recent years. The officials squeeze people's money to a staggering extent, adding up to two hundred to three hundred million dollars per case. Yet, Inner Mongolia bureau-level official Li Jianping broke the ...

Shanghai developer’s properties auctioned to settle $94 million debts

Economy 02/13/22, 16:19

Two sets of properties in Shanghai's Central Mansion property were auctioned off, according to the Chinese-language media Da Ji Yuan, on Feb. 8. Eight additional luxury homes will be auctioned off over the next ten days. According to reports, the properties were auctioned to repay the developer's debts. The Times Financial ...

China real estate companies’ financing fell by 70% in January

Economy 02/13/22, 16:07

According to the monitoring data released by the China Index Research Institute on Feb. 9, the total financing of real estate enterprises in January 2022 was $12 billion, a year-on-year decrease of 70.3% and a 16.6% month-on-month decrease. The China Index Research Institute said that continuing a downward trend that began ...