Chinese property companies that survived the debt peak in 2022 may not be able to get through 2023. Meanwhile, although a research institute says that China’s housing companies have “seen the dawn,” most private real-estate companies still fail to issue bonds. On Feb. 7, Guangzhou Times Holding Group Co. Ltd. announced that it would suspend…
Baidu Set to Challenge ChatGPT in March
February 14, 2023
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AI technologyArtifical IntelligencebaiduChatGPTChinaChina Business & EconomyChinese RegimeErnie BottechnologyThreat from Communist ChinaUS-China relations
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China’s Baidu announced it will complete the internal testing of Ernie Bot (Chinese name: Wenxin Yiyan), a ChatGPT-style AI project, in March and open it to the public. However, some experts are not optimistic about Baidu’s product due to the ubiquitous censorship of “sensitive words” under the Chinese Communist Party (CCP) rule. On Feb. 7,…
China Wastes Billions Building Makeshift Hospitals Nationwide, Most Abandoned or Unfinished
Since the outbreak of COVID-19 three years ago, Beijing has ordered the construction of countless makeshift hospitals nationwide, some costing as much as 10,000 yuan (about $1,500) per square meter. Those facilities were primarily used to quarantine mild to asymptomatic COVID-positive patients. However, when Beijing abruptly ended its Zero-COVID policy last December, makeshift hospitals nationwide…
China’s Real Estate Crisis Worsens as Sales Continue to Plummet
China’s properly sales remain sluggish despite China’s central bank enacting policies to stimulate the market. According to China Real Estate Information Corp (CRIC), there is a consensus that the real estate sector is on a downward spiral and is truly heading for an era of negative growth. The Chinese regime and the central bank introduced…
China’s Exports Will Show Negative Growth This Year: Chinese State-Owned Think Tank
China’s export growth is expected to turn negative in 2023, a prominent Chinese research institute says in a recent report. Meanwhile, Beijing admitted export trade represents “irreplaceable strategic significance” to the country’s economic stability and employment rate. In the past two years, China’s total imports and exports accounted for more than 20 to 30 percent of…
Protest Erupts in Wuhan As Health Benefit Cuts Affect Millions of Retirees
A large protest erupted in Wuhan after the Chinese regime reduced the health benefit payments by more than two-thirds. Protesters surrounded the city hall and jammed a nearby roadway. The government dispatched special police, as an online video shows. On Feb. 8, thousands of retirees gathered in front of the Wuhan city hall wanting an answer…
First Official Shipment of Australian Coal Arrives in China After 2 Years of Trade Bans
February 8, 2023
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AustraliaBusiness & MarketsChinaChina Business & EconomyChina-Australia Relationschina-australia trade disputeeconomic policiesInternational RelationsMarketsWorld
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The first official shipment of Australian coal has landed in China as Beijing scrambles to “normalise” relations with the new Labor government. Around 72,000 tonnes of metallurgical coal arrived at Zhanjiang Port on Feb. 8 in the southeast of China, the first in two years after economic sanctions were placed on Australian exports in 2020….
Rogers Vows to Expel All Chinese Goods from Defense Supply Chains
February 8, 2023
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Business & MarketsChinaChina Business & EconomycongressdefenseDemocratseconomyFinance & Business TiesInternational RelationsmilitaryNational SecurityPoliticsRepublicansRogersSpecial Topicssupply chainsThreat from Communist ChinaUSUS-China relations
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The Chairman of the House Armed Services Committee is vowing to expel all Chinese goods and materials from the United States’s defense supply chains. Chairman Mike Rogers (R-Ala.) said that he would lead the effort to expunge China-sourced goods during a Feb. 8 hearing of the committee on the subject of defense-industrial base security. “The…
China Local Government Debt Skyrockets as CCP Pushes Infrastructure Investments
The Chinese Communist Party (CCP) is trying to reverse the devastating economic effects of its extreme three-year zero-COVID lockdown. After the Chinese new year, local provincial governments across the country began a new trend of huge infrastructure spending in an attempt to reverse the economic downturn. An important source of funding for construction and infrastructure…
CCP Will Lift Trade Ban on Australia as It Failed: Former Australian PM
February 8, 2023
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AlbaneseAustraliaChinaChina Business & EconomyChina-Australia Relationschina-australia trade disputeDon FarrellInternationalInternational RelationsMalcolm TurnbullPenny WongWorld
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Former Australian Prime Minister Malcolm Turnbull said Beijing will lift its trade ban on Australia as it looks for a way out of the failure of its trade sanctions. The 29th Australian prime minister was speaking at an online forum on “Responses to China’s Economic Coercion” hosted by the Alliance of Democracies Foundation on Feb….
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