Tag: China Business & Economy

After Stocks Plunge in Hong Kong, Mainland China, Beijing’s Financial Rescue Sends Them Soaring

March 21, 2022
Asia & PacificBusiness & EconomyChinaChina Business & EconomyChinese financial marketeconomyhong kong stocksU.S.-ChinaWorld
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The stock market in continental China and Hong Kong, which plummeted for two consecutive trading days due to the failure of U.S.-China economic talks, rebounded in an abnormally short window after China’s financial commission issued a bailout signal on March 16. “This just goes to show that the Chinese stock market has always been a…

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Volkswagen Unveils Asian Ventures for EV Production

March 21, 2022
Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniesEuropeInternationalRussia-Ukraine WarVWWorld
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Volkswagen will form joint ventures with Huayou Cobalt and Tsingshan Group to secure nickel and cobalt supplies for electric vehicles in China. The move is part of a 30 billion euro ($33 billion) push by the world’s second-largest carmaker to build a network of battery cell factories and secure more direct access to vital raw…

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Trading in China Evergrande Shares, Onshore Bonds Halted Pending Announcement

March 21, 2022
Business & EconomyChinaChina Business & EconomyCompaniesevergrandeMarkets
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HONG KONG—Shares of embattled property developer China Evergrande Group and onshore bonds issued by its flagship unit Hengda Real Estate Group were suspended from trading on Monday, pending an announcement by the company. Trading was also halted in shares of its property services unit, Evergrande Property Services Group Ltd., and electric vehicle unit, China Evergrande…

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China Lures the Saudis Into Its Orbit

March 21, 2022
ChinaChina Business & EconomyGlobal ExpansionOilOpinionSaudi ArabiaSpecial TopicsThinking About ChinaUS-China relations
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News Analysis The Kingdom of Saudi Arabia (KSA) is considering a major defection from its long-standing economic alliance with the United States. The likely winner would be China. Having priced all of its oil in dollars since 1974, which has helped give the greenback massive value globally, the Saudis are softening to persuasion from Beijing,…

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Boeing Shares Plummet After 737 Crashes in Southern China

March 21, 2022
737 MAXairline stocksAirplane crashBoeingBusiness & EconomyChinaChina Business & EconomyCompanies
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Shares of The Boeing Company fell by as much as 9 percent in pre-trading on Monday, after representatives from China Eastern Airlines confirmed that one Boeing aircraft had crashed in the mountains of southern China. The crash, which occurred on Monday in China’s mountainous Guangxi region, occurred when the aircraft quickly descended from over 29,000…

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China Braces for Food Crisis

March 21, 2022
ChinaChina Business & Economyfertilizerfood shortagegrainOpinionThinking About ChinaUkraine
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News Analysis Last November, a wave of panic buying and hoarding was spurred by a message from China’s Ministry of Commerce, instructing local governments to stabilize food supply and prices. Now, as the war in Ukraine is threatening wheat and fertilizer exports, China braces for a food crisis, while Americans can expect higher prices at…

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China’s State-Owned Enterprises Will Buy Russian Assets

March 21, 2022
ChinaChina Business & EconomyEurope-China RelationsInternational RelationsOpinionRussiaState-Owned Enterprises (SOEs)Thinking About ChinaUkraine
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News Analysis China’s state-owned enterprises (SEOs) are coming to Russia’s rescue. Beijing is pressuring SOEs to purchase goods from Russian companies and to make investments into Russian enterprises. As sanctions take hold against Russia, companies in the United States, the United Kingdom, and Europe have been dumping Russian assets. China views this as a buying…

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Live Cockroach in Drink Allegation Adds to Starbucks’ China Woes

March 21, 2022
Asia & PacificChinaChina Business & EconomyFinance & Business TiesRui ChenggangSpecial TopicsStarbucksUS-China relationsWorldXi Jinping
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A Starbucks coffeehouse in the southern city of Shenzhen was accused of having a live cockroach in one of its takeaway drinks on March 12, adding another public relations challenge for the U.S. coffee chain giant in China this year. The alleged-cockroach find pushed Starbucks to the top of the search list on Weibo, China’s leading social media…

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Chinese Peasants Ordered to Turn Forests Into Grain Fields as Threat of Food Crisis Looms

March 20, 2022
Asia & PacificChinaChina Business & Economychina food crisisChinese Regimefood importWorld
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A video circulated on China’s social media showed that local authorities in Weifang, Shandong Province, ordered peasants to “remove trees” to make the land available for grain production. This comes as many in China fear food shortages will soon become a serious problem. In the video, a peasant, who recorded it as a selfie, said,…

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US–China Talks Collapse in Rome Contributes to a Global Chinese Capital Sell-Off

March 20, 2022
Business & EconomyChinaChina Business & Economychina-russia relationseconomic policieseconomyInvestmentMarketsUS-China relations
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Talks between China and the United States broke down in Rome, Italy triggered a wave of Chinese capital sell-offs. U.S. national security adviser Jake Sullivan and Yang Jiechi, a member of the Politburo of the Chinese Communist Party (CCP) Central Committee, met for seven hours on March 14 in Rome. U.S. officials are deeply concerned…

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