Lawyers for ZTE Corp. have been summoned to U.S. federal court in Texas on Monday for a hearing over whether the Chinese telecommunications equipment maker violated probation in connection with an alleged conspiracy to commit visa fraud. ZTE, a partially state-owned Chinese telecommunications and information technology company, is on probation in the United States after pleading…
ZTE Awaits Judge’s Ruling After US Probation Hearing
An FBI agent testified on Monday that Chinese nationals brought to the United States under research visas went to work for ZTE Corp. in New Jersey—a possible sign the Chinese tech company violated its probation from a 2017 U.S. plea deal. At a hearing in federal court in Dallas, FBI special agent Marcus Wondergem said…
China Is the Leading Source of Counterfeit Goods Found at EU Borders, Europol Says
Counterfeit and copyright-infringing goods smuggled into the European Union (E.U.) come primarily from China and Hong Kong, based on the seizures at the E.U.’s borders in 2019 and 2020, according to a recent report (pdf) released jointly by the European Union Intellectual Property Office and the European Union Agency for Law Enforcement Cooperation (Europol). “IP [intellectual…
Oil Prices Decline Following Russia–Ukraine Talks, Reemergence of COVID-19 in China
March 14, 2022
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Business & EconomyChinaChina Business & EconomyChina COVID-19commoditieseconomyEuropefall in oil pricesMarketspeace negotiationsRussia-Ukraine WarWorld
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Oil prices fell during early trading on March 14, continuing the downward trend of the past few days, as representatives of Russia and Ukraine hold talks that could soon result in tangible positive outcomes. The decline in prices is also attributed to China announcing lockdowns in various commercial regions amidst a resurgence in COVID-19 cases….
Oil Prices Decline Following Russia–Ukraine Talks, COVID-19 Spike in China
March 14, 2022
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Business & EconomyCCP VirusChinaChina Business & EconomyChina COVID-19commoditieseconomyEuropefall in oil pricesMarketspeace negotiationsRussia-Ukraine WarSpecial TopicsWorld
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Oil prices fell during early trading on March 14, continuing the downward trend of the past few days, as representatives of Russia and Ukraine hold talks that could soon result in tangible positive outcomes. The decline in prices is also attributed to China announcing lockdowns in various commercial regions amidst a resurgence in COVID-19 cases….
Reshoring Pharmaceuticals: Take the Advantage Away From China
News Analysis Pharmaceutical drugs are one of the most crucial areas where the United States is too dependent on imports. China is the number one source of U.S. imported drugs, by volume. President Joe Biden’s State of the Union address on March 1 highlighted restoring U.S. manufacturing, while several White House initiatives specifically mentioned pharmaceuticals. But there…
Huge Household Debts Weigh on China’s Consumer-Driven Economy: Expert
In the face of an economic slump, China’s State Council emphasized that it would continue the strategy of expanding domestic consumption in its 2022 work report released on March 5. However, boosting the economy by pushing the Chinese people to consume more is likely unattainable for the Communist regime, according to professional analysis. Katherine Jiang, a…
Apple Supplier Foxconn Halts Operations at Its Shenzhen Sites Due to COVID-19 Lockdown
March 14, 2022
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appleBusiness & EconomyBusinesses in COVID-19CCP VirusChinaChina Business & EconomyCOVID-19FoxconnINSIDE CHINA
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Foxconn has halted operations in the Chinese business center of Shenzhen after authorities announced a partial lockdown due to a rise in COVID-19 cases across the country, fueled by the highly transmissible Omicron variant. In a March 13 statement, a spokesperson for the Taiwan-based Foxconn, also known as Hon Hai Precision Industry Co., said it was suspending production…
Russian Investors Find Short-Term Solution to Western Sanctions Against Moscow, Expert Says
March 14, 2022
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CCPChinaChina Business & EconomyChinese Yuaneconomic sanctionsEuropeforeign exchange reservesInternationalRussiaRussia-UkraineRussia-Ukraine WarRussian banksthe SWIFTUkraineWestern sanctionsWorld
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Converting foreign assets into Chinese yuan assets may be a short-term solution for Russian investors in the wake of Western sanctions against Moscow, according to experts. The exclusion of major Russian banks from the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, shuts them out from the U.S.-dominated international fund transfer system. Although this severely…
5 Chinese Companies Named by US Regulators for Potential Delisting, Triggering Stock Plunge
March 14, 2022
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AlibabaBusiness & EconomyChinaChina Business & EconomyChinese RegimedelistingMarketsNASDAQSECUS-China relationsYum China
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Five Chinese companies have been included in a provisional list of 270 companies by the U.S. Securities and Exchange Commission (SEC) to be delisted from U.S. stock markets. If these companies fail to submit detailed audit documents supporting their financial statements within the required time frame, they will be forced out from American exchanges by…
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