The communist Chinese regime’s heavy-handed supervision of China’s high-tech industries has greatly hindered its domestic tech innovation, prompting many Chinese tech firms and industry professionals to seek development overseas. Web 3.0 is referred to as the next internet revolution or the third-generation Internet that is based on blockchain technology and cryptocurrencies. It is being developed…
Overregulation Hinders China’s Web 3.0 Developers While Investors Seek Options Offshore
May 11, 2022
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blockchainBlockchain technologyChinaChina Business & EconomycryptocurrencyDecentralized financemetaverseNFTSpecial TopicsTech Competitiontechnologyweb 3.0
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Lucid CEO Concerned About Chip Supplies From China Due to COVID Lockdown
May 11, 2022
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Business & EconomyBusinesses in COVID-19CCP VirusChinaChina Business & EconomyLucidSpecial Topicszero-COVID
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SAN FRANCISCO—The chief executive of Lucid Group Inc on Wednesday expressed concern about chip supplies from China due to COVID-19 pandemic-related lockdowns, adding that the U.S. electric vehicle startup is taking measures to mitigate the impact. “My biggest concern probably is semiconductors from China and the impact of COVID in that part of the world,”…
CCP Calls for ‘Self-Reliance’ After Seeing Sanctioning and Isolation of Russia
China has been emphasizing self-reliance since the U.S.-China trade war started, and the urgency of China’s desire for this appears to have grown stronger after witnessing Western countries imposing harsh sanctions on Russia for invading Ukraine on Feb. 24. The next day, on Feb. 25, the Chinese Communist Party (CCP) media People’s Daily published an editorial titled…
Hong Kong’s Richest Man Eyes Vietnam, Disappoints Beijing
May 9, 2022
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cheung kong holdingsChinaChina Business & EconomyChina economyHK Current AffairsHong KongHurun Global Rich ListLi Ka ShingVietnam
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CK Asset Holdings, founded by Hong Kong tycoon Li Ka-shing, will invest in real estate in Ho Chi Minh City, Vietnam. The move comes as Vietnam has become the fastest growing country in Southeast Asia, and its GDP growth rate exceeds China’s. Li, who ranked first in the “Hurun Global Real Estate Rich List 2022”…
Tech Factory Workers in Shanghai Protest Dormitory Lockdowns
Following the recent resumption of manufacturing production in Shanghai, factories were faced with another wave of surging numbers of workers testing positive for Covid. Worker protests broke out in factories of two popular Taiwan-based technology companies in Shanghai, Quanta Computer and Pegatron. Shanghai’s Tech company workers are seen breaking through gate barriers in defiance of…
China’s Exports Growth Hits 2 Year-Low as COVID Curbs Hit Factories
BEIJING—China’s export growth slowed to single digits, the weakest in almost two years, while imports barely changed in April as tighter and wider COVID-19 curbs halted factory production and crimped domestic demand, adding to wider economic woes. Exports in dollar terms grew 3.9 percent in April from a year earlier, dropping sharply from the 14.7…
China’s State Media Claims De-Dollarization Improves RMB’s International Status
May 9, 2022
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ChinaChina Business & EconomyDe-DollarizationFinance & Business Tiesforeign exchange reservesoil RMBrmbSpecial Topicsyuan
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The U.S. dollar has long been recognized as the leading global reserve/fiat currency. But recent hardships posed by the pandemic, war, economic sanctions, dwindling food reserves, and energy shortages have motivated some countries to accelerate the diversification of their currencies. This emerging trend is referred to as de-dollarization. Official media of the Chinese Communist Party…
China Tightens Control on Overseas Investment, Sets New Rules to Restrict Emigration
May 9, 2022
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Asia & Pacificcapital outflowChinaChina Business & Economychina foreign exchangeChinese RegimeemigrationimmigrationInternational RelationsWorld
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While the Chinese communist regime’s zero-COVID policy has accelerated the recession of China’s economy, the humanitarian crisis caused by the strict pandemic control measures has driven interest by wealthy Chinese to emigrate to the United States, Canada, and Europe. In response, the Chinese Communist Party (CCP) recently put out new regulations to tighten its control…
China’s ‘Zero-COVID’ Controls Prompt EU Firms to Consider Moving Investments Elsewhere
A top business group warns China’s zero-COVID policy has made European companies weigh a shift of investment out of China. The strict COVID lockdown and supply chain disruptions have rattled business confidence, according to a survey by the European Chamber of Commerce in China published on May 5. “Our members are weathering the storm for…
Chinese Regime Changes Tune on Ukraine War Under Pressure of Sanctions: Experts
May 8, 2022
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ChinaChina Business & EconomyChinese RegimeEuropeEurope-China RelationsInternationalInternational RelationsRussiaRussia-Ukraine WarsanctionsUkraineUS-China relationsWorldzelensky
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While the United States and the European Union continue to increase sanctions on Russia, the Chinese communist regime’s state media has recently changed its tone on the Russian-Ukrainian war, starting to report positively on Ukrainian President Volodymyr Zelenskyy. Analysts believe that as the ruling Chinese Communist Party’s (CCP) 20th National Congress is approaching, Beijing is…
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