Commentary Western finance experts used to recognize two categories of Chinese companies, such as state-owned enterprises and privately held (including publicly traded) enterprises. That distinction is increasingly passé; soon, all Chinese companies—no matter their legal and financial ownership—could become effectively state controlled. Reuters recently reported that the Chinese Communist Party (CCP) is expanding use of…
China Expands Domination Over Companies
December 30, 2021
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Northern Chinese District Blocks All Coal and Wood Burning Ahead of Olympics
Officials in a northern Chinese district banned residents from burning coal or wood for heating—even if it was well below the freezing point—ahead of the Beijing Winter Olympic Games. The northern district of Shanhaiguan in Qinhuangdao city, Hebei Province, took extreme measures to fight smog, including forcibly closing or dismantling household stoves, reported state media…
First US-listed Chinese Education Group to Make Massive Lay Offs to Meet China’s Education Restrictions
December 30, 2021
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Tal Education Group (NYSE: TAL), the first U.S.-listed Chinese technology education company, will shut down its subject-based off-campus training business and make massive layoffs to comply with Beijing’s “double reduction” policy by the end of this year. Tal Education Group is expected to lay off about 16,000 people and retain only 4,000 to start the…
Beijing Plans To Turn Its Debt-Ridden Property Giants Into State-Owned Entities, Expert Says
New Analysis After two major Chinese property developers—Evergrande and Kaisa—defaulted on their bond payments, the Chinese Communist Party (CCP) reiterated its bid to rein in its debt-ridden property market. However, experts believe that the CCP intends to turn private enterprises into state-owned entities that bolster state control. The real estate sector was one of the…
Beijing’s 99-Year Lease of Darwin Port Poses No Security Risk: Australian Defence Department
December 29, 2021
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A review by Australia’s Defence Department has advised the federal government against overturning the controversial 99-year lease of the Port of Darwin to Chinese company Landbridge, citing a lack of national security grounds. The review, initiated by Defence Minister Peter Dutton—amid escalating tensions between Beijing and Canberra—was tasked with investigating with whether the Chinese-owned port posed…
China Fires Up New Giant Coal Power Plant in Face of Calls for Cuts
As the world seeks to phase down use of coal, China’s biggest coal-fired power plant has just finished construction and entered operation on Dec. 28. The Shanghaimiao plant, located in the country’s top coal-producing region of Inner Mongolia, said on Tuesday that its first of four 1,000-megawatt units was online after passing a 168 hour…
Mercedes Draws Flak for ‘Insulting China’ With Slanted-Eyes Model
December 29, 2021
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German automaker Mercedes-Benz provoked anger in China for using a model with “slanted eyes” in a video advertisement. The Asian-looking female model, featuring small, slanted eyes and high cheekbones, drew criticism from nationalistic Chinese netizens upon its release via Chinese social media platform Weibo on Dec. 25. The relevant hashtag has since generated about 250…
China’s Soaring Production Costs Heighten Global Inflation Pressures
December 29, 2021
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China’s soaring producer price index (PPI) and export prices are adding to inflationary pressures around the world, according to analysts. The Chinese Communist Party’s (CCP) recent power sector reform pushes up inflation and export costs, an expert says. The rising production costs in China continue to reflect onto its downstream consumers overseas. In October, China’s…
China Is Hoarding Strategic Commodities, Many Supplied by US
China seems to be on a “hoarding spree,” stockpiling strategic commodities from chips, minerals to grains and cotton. In its global purchases, the United States is one of its largest suppliers. Beijing has been hoarding chips. Industry experts believe China’s nationwide hoarding played a role in the global chip shortage. In fact, China’s State Administration…
Local Authorities in China Face Huge Revenue Drops as Land Sales Plummet
After the outbreak of the CCP virus in 2020, China’s economic growth has been declining rapidly. Various structural problems in the Chinese economy began to erupt visibly in 2021. Among them, the slow sales of real estate have resulted in a sharp drop in the revenue of local governments at and below the provincial level….
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