Two senators are pressing the Biden administration to expand the authorities of the Treasury and Commerce Departments in order to prevent China’s communist regime from benefiting from U.S. innovation and investments. On Feb. 21, Senate Select Committee on Intelligence Chair Mark Warner (D-Va.) and Vice Chair Marco Rubio (R-Fla.) penned an open letter to Treasury Secretary…
Lawmakers Seek to Enhance Treasury and Commerce Departments Against China’s Wrongdoing
February 21, 2023
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China Container Freight Index Plunges for Five Consecutive Months Due to Weak Exports
February 21, 2023
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Business & MarketsChinaChina Business & EconomyChina Container Freight Indexcontainersexportforeign tradeInternationalWorld
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The China Container Freight Index (CCFI) reportedly continued to fall in January after plummeting in the previous four months, indicating an overall decline in international freight rates at Chinese ports, a gloomy export trade, and a crisis in which Chinese foreign trade companies are facing business headwinds or even bankruptcy due to reduced orders. On…
Manufacturing in China and Exporting Globally ‘No Longer Viable’: Kyocera
February 21, 2023
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Business & MarketsChinaChina Business & EconomyCompanieseconomyexportKyoceramanufacturingTechTech News
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Kyocera, one of the largest chip component manufacturers in the world, believes China can no longer play its role as the global factory amid heavy sanctions from the United States, and the company has begun shifting production to other places, including Japan. “It works as long as [products are] made in China and sold in…
Two More Chinese Real Estate Executives Arrested
China’s real estate sector is being caught in a whirlwind of oversight by the Chinese Communist Party’s legal and disciplinary bodies. Two prominent real estate companies recently announced that their directors have been taken away for suspected criminal violations or they have lost contact with them. The Chinese authority’s oversight of the property sector continues…
Thousands of Chinese Chip Companies Go Bankrupt in 2022 Following US Sanctions
February 20, 2023
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Asia & PacificChinaChina Business & EconomyChinese RegimechipsCHIPS and Science Act 2022sanctionssemiconductorsThreat from Communist ChinaUSUS-China relationsWorld
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As many as 5,746 Chinese chip companies were deregistered in 2022, much higher than the previous year. Experts believe U.S. sanctions and China’s economic downturn have caused mass bankruptcies and that it would be difficult for China’s chip industry to recover. Chinese media Titanium Media App reported on Feb. 16 that according to Chinese data…
China Renews Pledge to Embrace Private Sector as Private Investment Shrinks to 11-Year Low
Beijing once again pledged to embrace its private sector amid record shrinkage in the country’s private fixed asset investments, one of the main drivers of China’s economic recovery in 2021. China’s annual growth in private fixed asset investment has shrunk to 0.9 percent in 2022, the lowest in 11 years, despite Beijing’s renewed embrace of…
China Barges into the Chat Bot Arms Race
February 20, 2023
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Commentary Chinese internet giants Baidu and Alibaba have joined the global artificial intelligence chat bot arms race. And yet, in a string of events eerily similar to 2020, Chinese state media quickly offered a stinging rebuke. Let’s set the stage first. The recent release of the latest version of OpenAI’s ChatGPT chat bot has brought…
China’s Economy Stepping into a Downward Spiral with Two Major Risks: Analysis
February 19, 2023
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News Analysis China’s economy is moving into a downward spiral in the medium-to-long term due to demographic headwinds and declining productivity after it slowed down substantially in 2022 with GDP growth reaching its second lowest since 1977. The International Monetary Fund (IMF), although expecting China’s economy to rebound in the short term, revised its medium-term…
Famed Chinese Rainmaker Goes Missing in Latest Executive Disappearance
Chinese dealmaker Bao Fan, founder of investment bank China Renaissance Holdings Ltd, has gone missing in the latest disappearance of a top business executive, unnerving investors and sending its stock down as much as 50 percent on Friday. The mainland China-based boutique bank said in an exchange filing late on Thursday the company had been…
Beijing Sanctions US Defense Companies Amid Fallout From Chinese Spy Balloon
February 16, 2023
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Communist China is sanctioning two American defense companies for arms sales to Taiwan amid the growing fallout over the shootdown of a Chinese spy balloon in U.S. airspace. Lockheed Martin and Raytheon, America’s two largest defense manufacturers, will be added to the regime’s sanctions list, according to a Feb. 16 announcement by China’s Ministry of…
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