3 reasons why China closed 7,600 car dealerships in two years

Economy 02/12/22, 15:47

The rapid rise of the automotive industry generated a big market for 4S dealerships in China, which shorts for Sales, Service, Spare parts and Surveys, or customer feedback. 4S dealers gained traction in China over twenty years ago for offering world-class service, well-trained employees, and quality customer support. These stores were ...

China’s Zhenro Properties Group shares plummet 81%

Economy 02/12/22, 15:21

Zhenro Properties Group's shares keep hitting new lows as concerns about the news that the company won't buy back a heavy load of $200 million bonds next month.  The Shanghai-based property developer shares fell as much as 66.4%, and shares in its property services unit plunged 57.7% on Thursday. However, Zhenro ...

South African government sues Huawei

Economy 02/12/22, 13:14

According to Reuters, South Africa plans to fine the local unit of Huawei with 1.5 million rands (99,151 dollars) or 2% of the local firm's annual 2020 turnover. On Friday, the labor department said almost 90% of the company's employees were foreign nationals, violating the requirement to employ 60% South Africans ...

Argentina joins China’s Belt and Road Initiative

Economy 02/12/22, 13:10

Many world powers have evaded sending officials to the Winter Olympics in Beijing to protest China's atrocity crimes that many refer to as genocides. But not all would skip the Games, and some of those who attended the opening ceremony on February 4th turned out to be those with whom Beijing ...

Official data reveals China’s employment crisis can’t hide

Economy 02/12/22, 10:04

On Wednesday, Feb. 9, the Chinese newspaper "People's Daily" published an article in its overseas edition to encourage "flexible employment."  "Flexible employment" refers to those who are employed in flexible forms such as part-time, temporary, and flexible work. Flexible employment forms mainly include the following types: self-employed workers, family helpers, and ...

Global freight rates drop 90% due to Winter Olympics: Expert

Economy 02/12/22, 04:52

At the end of January, Capesize spot prices fell to $5,826 per day, the lowest in 20 months and well below the 12-year record high of $80,000 per day in October 2021. Bulk carriers mainly carry iron ore, coal, grain, and cereals. Jun Huang, an economist now living in the U.S., ...

Guangzhou’s largest firm announces default on wealth management products

Economy 02/12/22, 03:37

Guangzhou's most significant private enterprise, Cedar Holdings, defaults on wealth management products. According to Caixin, Cedar Holdings could not repay its financial products obligation. In January 2022, Cedar Holdings' share of financial products is about $3.15 billion, with 8,000 investors. Cedar Holdings apologized to investors about the incident on Jan. 30. Cedar ...

Current Chinese stocks rebound is no natural, international expert explains

Economy 02/11/22, 21:25

According to recent reports from mainland media, Chinese stocks have recently staged a long-lost "big rebound." In addition to the collective increase of three Chinese e-commerce giants, Pinduoduo, JD.com, and Alibaba, other Chinese concept stocks also generally soared.  Dr. Xie Tian, ​​chair professor at the University of South Carolina Aiken School ...

Evergrande’s CEO sells off bonds before company’s crisis

Economy 02/11/22, 21:18

According to information from the Hong Kong Stock Exchange, Xia Haijun, vice-chairman and chief executive of China Evergrande Group, sold off $128 million worth of bonds before the company fell into a debt crisis last year. According to his new filings late on Wednesday, Feb.9, Xia Haijun sold three tranches of ...

Decoupling from China: US has a moral duty to the world

Economy 02/11/22, 17:18

Breaking trade dependence on China has been a much-discussed topic among leaders worldwide, especially during the pandemic, highlighting that most countries have a massive reliance on China for medical supplies and other critical components. One of the most notable cases was that of the United States. During Donald Trump's administration, it ...

Huawei cuts dividends for staff as revenue falls due to US sanctions

Economy 02/10/22, 21:31

According to a local media China Business News report, Chinese telecoms giant Huawei Technologies Co will pay a reduced cash dividend to employee shareholders for 2021. Huawei hasn't made its dividend strategy public, but the paper wrote that its 1.58 yuan (US$0.25) dividend per share for 2021 was nearly 15% lower ...

China’s financial market sends out 3 red flags to foreign investors

Economy 02/09/22, 21:46

According to Chinese-language media Da Ji Yuan, the Chinese regime has liberalized finance to attract foreign investment in recent years. According to official data from the Chinese government, the cumulative net increase in foreign holdings of domestic bonds and stocks surpassed U.S. $700 billion from 2018 to 2021, representing a ...

China’s January forex reserves fall to $3.22 trillion

Economy 02/09/22, 20:55

China's foreign exchange reserves unexpectedly dropped in January, likely due to valuation effects as the US dollar gained.  According to Reuters, the country's forex reserves fell to US$3.22 trillion last month, down from $3.25 trillion in December.  Meanwhile, the dollar posted a rise of 1.03% against other key currencies, with the yuan ...

China’s economic downturn may help reduce global inflation, says experts

Economy 02/09/22, 20:13

According to the Wall Street Journal, China's economic downturn will likely affect some multinational companies and commodity producers in the coming years, casting doubt over the global economy's recovery from the COVID-19 outbreak. However, economists believe the potential benefit could be a diminished global inflationary pressure. As mentioned in a report ...