Local officials in China’s Shenzhen city are struggling to keep their cities running, even with the central regime’s newly branded “dynamic zero-Covid” policy, but will be dismissed if they challenge it. “It’s very hard for the government to maintain operations. Nobody works [under lockdown]. We can’t collect any tax [from enterprises and businesses],” Guo Qiang (Pseudonym),…
As China’s Extreme COVID Policies Damage the Economy, Local Officials Face Dilemma
March 24, 2022
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As China’s Zero-COVID Policy Inflicts Damage on Economy, Local Officials Face Dilemma
March 24, 2022
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CCP VirusChinaChina Business & EconomyChinese RegimeCovid policeCOVID-19DilemmaINSIDE CHINAShenzhenzero tolerance
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Local officials in China’s Shenzhen city are struggling to keep their cities running, even with the central regime’s newly branded “dynamic zero-Covid” policy, but will be dismissed if they challenge it. “It’s very hard for the government to maintain operations. Nobody works [under lockdown]. We can’t collect any tax [from enterprises and businesses],” Guo Qiang (Pseudonym),…
As China’s Zero-Covid Policy Inflicts Damage to Economy, Local Officials Face Dilemma
March 24, 2022
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CCP VirusChinaChina Business & EconomyChinese RegimeCovid policeCOVID-19DilemmaINSIDE CHINAShenzhenzero tolerance
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Local officials in China’s Shenzhen city are struggling to keep their cities running, even with the central regime’s newly branded “dynamic zero-Covid” policy, but will be dismissed if they challenge it. “It’s very hard for the government to maintain operations. Nobody works [under lockdown]. We can’t collect any tax [from enterprises and businesses],” Guo Qiang (Pseudonym),…
More Chinese Property Developers Delay Earnings Reports, Deepening Market Concerns Over Sector’s Woes
March 24, 2022
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A growing number of Chinese property developers this week said they will be unable to publish audited 2021 earnings statements on time, deepening market concerns over the sector’s financial troubles. Indebted Kaisa Group Holdings Ltd. became the latest developer to disclose that it will most likely miss the deadline for reporting audited financial results due…
BMW Suspends Production in China Due to COVID-19 Outbreak
German automaker BMW announced on March 23 that its plants in Shenyang, China, will temporarily shut down from March 24 due to the city’s COVID-19 restrictions, with no date determined for resuming production. Northeastern China’s Shenyang, the capital of Liaoning Province with a population of 9.1 million, is home to BMW’s largest production base in…
Supreme Court Urged Not to Let Chinese Firm Use U.S. Courts in German Arbitration
A Chinese manufacturer should not be allowed to use the U.S. legal system to compel production of evidence in a private arbitration taking place overseas, the Supreme Court heard March 23 in a case fast-tracked from a federal appeals court. The Supreme Court’s decision in the case may help to determine the reach of the…
Tesla and SpaceX Are Apparently Compromised by China
March 23, 2022
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News Analysis Elon Musk and his companies, Tesla and SpaceX, are under scrutiny for their billion-dollar links to China and their CEO’s political support for the totalitarian country. Some of that support comes in the same breath as his denigration of the United States. While the freedom that America gives business is legendary in attracting…
CCP Strategy Is to ‘Buy Off’ US Elites With Lucrative Deals in China’s Markets: Author Peter Schweizer
March 23, 2022
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The Chinese Communist Party (CCP) relies to a large degree on a strategy of luring powerful figures in American politics and business to extend its influence and avoid the consequences of its misdeeds, according to Peter Schweizer, author of the book “Red-Handed: How American Elites Get Rich Helping China.” “The strategy is to buy off…
Beijing Tells Chinese Business People to Fill Void in Russian Market Amid Ukraine Crisis
March 23, 2022
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China’s Ambassador to Russia called on Chinese business people in Moscow to grow their enterprises by leveraging the Ukraine crisis. It came as severe international sanctions have crippled Russia’s economy in the wake of the invasion. Ambassador Zhang Hanhui urged Chinese businessmen in Moscow to make good use of the current Russia-Ukraine war as he…
China Bought Twice as Much Russian Liquefied Natural Gas in February
March 23, 2022
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Business & EconomyChinaChina Business & EconomyChinese Regimeeconomic policieseconomyEuropeInternationalInvestmentJoe Bidenliquefied natural gasMarketsRussia-Ukraine WarVladmir PutinWorldXi Jinping
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China doubled its import of liquefied natural gas (LNG) from Russia in February from a year earlier, undermining China’s proclaimed “neutral” stance in the ongoing Ukraine war. Beijing bought nearly 401,000 tons of Russian LNG last month, Bloomberg reported on March 21, citing data from Chinese customs officials. That volume made up 8 percent of…
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