China Evergrande subsidiary’s $2.1 billion bank deposits seized

Economy 03/24/22, 01:00

China Evergrande Group has announced that the asset of its subsidiary, Evergrande Property Services, was seized by the relevant banks. In a filing sent to the Hong Kong stock exchange on Tuesday, March 22, the group said that Evergrande Property Services would investigate how banks seized 13.4 billion CNY (2.11 billion ...

Taiwanese expert judges statements of Chinese foreign minister Wang Yi

China 03/24/22, 00:48

Chinese foreign minister Wang Yi and Foreign Minister Ramtane Lamamra of Algeria held a briefing after a talk took place on Sunday, March 20. In the briefing, Wang Yi expressed his disagreement with the international community's imposition of economic sanctions on Russia over the war in Ukraine. He said, "In the context ...

Aviation experts speculate on cause of China Eastern Airlines crash

China 03/23/22, 23:52

The crashed China Eastern Airlines flight MU5735 has attracted widespread attention. So far, officials have not determined the cause of the tragic accident. It remains a question whether it could be a mechanical failure or a human factor. According to the BBC, Mao Yanfeng, director of the civil aviation accident investigation ...

Pilots of China Eastern flight were in good health before plane crash

China 03/23/22, 23:50

According to Chinese media Southern Net, Sun Shiying, chairman of China Eastern Airlines' Yunnan branch, said at a press conference on March 23 that the three pilots' flight licenses were all valid. Sun added that they were in good health and had complete flight experience, meeting the authorities' requirements. Sun also said, ...

The Boeing 737 crashed in China has a history of issues

China 03/23/22, 23:28

The Boeing 737 with 132 customers crashed into a mountain of Guangxi Autonomous Region, China, on March 21. The Boeing 737 is a twin-engined, narrow-body jet airliner, with a fuselage cross-section and nose shape, which design inspired by the Boeing 707. Because of its two engines, the Boeing 737's operating costs are ...

Two executives from Tahoe Group hauled in for investigation

Economy 03/23/22, 23:20

According to Sohu, Huang Xi, Executive Vice President of China's luxury villa developer Tahoe Group, and Lin Wenhua, Vice President of the group, were hauled by the police for questioning in their investigation. The group announced on March 16, saying that its Chairman Huang Xi was assisting the relevant authorities in ...

Swiss Bank’s sanctions on Russia could tremble Beijing: Expert

Insights 03/23/22, 07:30

Switzerland has recently announced to freeze the assets of the Russian government and oligarchs in Swiss banks as a sanctioned act against the Russian attack on Ukraine. Li Zhengkuan, a writer who covers China's affairs, said that Switzerland's move could make the Beijing government tremble with fear. Switzerland could react the ...

Most vulnerable nations to repay China $14 billion in 2022 – report

China 03/23/22, 07:28

According to a report released on March 21 by the Green Finance & Development Center (GFDC) at Fudan University in Shanghai, the poorest countries will have to spend about 14 billion dollars on debt service to China this year. The GFDC urged Beijing to provide more restructuring support to those ...

Evergrande expects delay in publication of 2021 audited results

Economy 03/23/22, 07:22

China Evergrande said on Tuesday, March 22, that it "will not be able to complete the audit procedures on time." In a filing to the Hong Kong stock exchange, the group also said its two Hong Kong-listed units. China Evergrande New Energy Vehicle Group and Evergrande Property Services Group are in ...

China’s aviation industry lost $3.5 billion in first 2 months

Economy 03/23/22, 07:22

Sina News reported on March 20 that Zhang Qing, Deputy Director of the Development Planning Department of the Civil Aviation Administration of China (CAAC), said China's aviation sector lost 22.2 billion CNY (3.5 billion dollars) in January-February 2022. Since the outbreak, the cumulative loss of the aviation industry has reached more ...

China imports twice amount of Liquefied Natural Gas from Russia in February

Economy 03/23/22, 07:17

Despite weakened spot purchases due to high prices, China imported twice the amount of liquefied natural gas (LNG) from Russia in February than in the same period last year. Bloomberg cited official customs data reporting that China bought nearly 401,000 tons of LNG from Russia, mainly because China's total LNG imports ...

Domestic smartphone shipments in China fell 31.8% year-on-year in February

Economy 03/23/22, 07:14

The government-backed China Academy of Information and Communications (CAICT) said that on Monday, March 21, the number of smartphones delivered within the country decreased by 31.8% year-on-year last month, dropping from 21.3 million to 14.5 million. During the first two months of this year, the total shipments of smartphones in China ...

Deputy Prime Minister of Ukraine responds to China’s comments over U.S. assistance

China 03/23/22, 07:08

The Deputy Prime Minister of Ukraine Iryna Vereschuk, on Saturday, March 19, expressed dissatisfaction with China's Foreign Ministry Spokesperson Zhao Lijian's statement on a Facebook post. Previously, Zhao criticized the U.S. for providing weapons to Ukraine, fearing that helping Ukraine with weapons could lead to more casualties among civilians. Iryna Vereschuk used ...

U.S. restricts some Chinese officials’ visas

China 03/23/22, 07:02

U.S. Secretary of State Antony J. Blinken stated on Monday (March 21) that the U.S. is restricting visas for some Chinese officials who exhibit oppressive behaviors against ethnic minorities, religious groups, and people of spiritual belief. The statement's readout said, "The United States rejects efforts by PRC officials to harass, intimidate, ...

China’s former vice president of Supreme Court investigated

Insights 03/23/22, 03:42

China's Central Commission for Discipline Inspection Department (CCDI) announced on March 21 that Shen Deyong, the executive vice president of the Supreme Court, was under investigation on suspicion of "serious violations of discipline and law." The CCDI's announcement came in a brief statement without elaborating. Serving in the Supreme Court twice ...