Tag: China Business & Economy

Stellantis Joint Venture in China Filing for Bankruptcy Due to Plunging Vehicle Sales, Company Says

October 31, 2022
Business & Marketsbusiness in chinacarmakerChinaChina Business & EconomyChinese business practicesCompaniesFinance & Business TiesSpecial TopicsStellantisWorld
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European carmaker Stellantis has announced that its joint venture (JV) in China is filing for bankruptcy following poor vehicle sales over the years. The JV, which sold the Jeep Cherokee SUV and the Jeep Compass crossover SUV in China, saw sales decline significantly during the past year. In 2021, sales crashed by 50 percent to…

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China Moves to Buy German Semiconductor Factory After New US Chip Ban

October 30, 2022
Asia & PacificChinaChina Business & EconomyChinese RegimedortmundElmosEurope-China RelationsGermanGlobal ExpansionInternational RelationsSai MicroelectronicsSelixSpecial TopicsSwidishTech CompetitiontechnologyUS-China relationsWorld
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The German government intends to approve a China-based company’s acquisition of a chip production factory belonging to the Dortmund-based semiconductor company Elmos, despite the German intelligence agency warning against the move, according to German business daily Handelsblatt. Swedish company Silex Microsystems AB, which is a subsidiary of China’s Sai Microelectronics Group, is planning to acquire…

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HK Banking System Balance Expected to Drop Below USD13 Billion Before Next Fed Meeting

October 30, 2022
Asia & PacificChinaChina Business & EconomyChina Human RightsChinese RegimeFederal ReserveHK BusinessHong Konginterest raterate hikeWorld
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The U.S. Federal Reserve is expected to hike the rate again at its meeting Nov 1-2. In Hong Kong, the aggregate balance of the Hong Kong banking system is fast reducing to the HK$100 billion (US$13 billion) safety margin, and the Hong Kong dollar interest rate has risen for 13 consecutive days. Some analysts say…

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HK Banking System Balance Expected to Drop Below US$13 Billion Before Next Fed Meeting

October 30, 2022
Asia & PacificChinaChina Business & EconomyChina Human RightsChinese RegimeFederal ReserveHK BusinessHong Konginterest raterate hikeWorld
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The U.S. Federal Reserve is expected to hike the rate again at its meeting Nov 1-2. In Hong Kong, the aggregate balance of the Hong Kong banking system is fast reducing to the HK$100 billion (US$13 billion) safety margin, and the Hong Kong dollar interest rate has risen for 13 consecutive days. Some analysts say…

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China, Hong Kong Stocks Rebound But Analyst Says Government Intervention Will Only Have Short-Term Effect

October 30, 2022
Asia & PacificChinaChina Business & Economychina property marketchina stock marketFinance & Business TiesHong Kong Hang Seng Indexsocial controlSpecial TopicsWorld
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China’s stock market rebounded on the afternoon of Oct. 25, with its A-share index continuing the upward trend on Oct. 26 after plunging on Oct. 24. However, a financial analyst believes that the stock market recovery is a result of government intervention to appease investors, which will only have a short-term effect. China’s A-share stock…

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U.S. Congress, CECC, and Human Rights Groups Urge US Capital Giants to Boycott the Upcoming Global Investment Summit Hong Kong

October 30, 2022
AmericasAsia & PacificChinaChina Business & EconomyChina Human RightsChinese RegimeHK BusinessHK Current AffairsHong KongJeff MerkleyRep. Jim McGovernThe Global Financial Leaders' Investment SummitWorld
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The upcoming Global Financial Leaders’ Investment Summit in Hong Kong will be held at the Four Seasons Hotel on Nov 2, and at Hong Kong HKEX Connect Hall on Nov 3. Some of the said attendees include senior executives of Goldman Sachs, Citigroup, and other U.S. financial institutions. The U.S. Congress and Congressional-Executive Commission on…

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HK Billionaires Are Fleeing and Those in China Have Had Their Wealth Slashed by Tens of Billions of Dollars

October 29, 2022
AlibabaAsia & PacificbillionairesChinaChina Business & EconomyChinese RegimeHK BusinessHK Current AffairsHong Kongtencent holdingsWorld
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Following the 20th National Congress of the Communist Party, Chinese stocks immediately witnessed a round of plummeting in value. Together with this deep drop in stock prices is a similar depletion of the wealth of China’s richest. According to statistics, the wealth of China’s richest people was slashed by a staggering US$35 billion in one…

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As Xi Secures Third Term, CCP Will Continue to Subvert International Rules at West’s Expense: Experts

October 29, 2022
ChinaChina Business & EconomyChinese RegimeeconomyXi
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Chinese Communist Party (CCP) leader Xi Jinping said during the recently-concluded 20th Party Congress that China would open up economically to the world. But experts warned that this would mean obliterating international rules in the regime’s favor at the expense of the free world. “We’ll be steadfast in deepening reform and opening up across the…

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Container Shipping Prices Continue to Fall, with Major Shipping Companies Cancelling Voyages

October 28, 2022
Business & MarketsBusinesses in COVID-19ChinaChina Business & EconomyCMA CGMfreightfreight ratesshipping rates
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Container shipping rates continued to fall in October due to declining demand. The Shanghai (Export) Containerized Freight Index (SCFI) has fallen for 17 consecutive weeks. Shipping companies have started to discontinue services or cancel voyages. Athough container shipping prices dropped overall since the beginning of 2022, they began a continuous slide in July, and the…

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Multiple Chinese Cities Cut Mortgage Rates to Spur Buyers Amid Economic Downturns

October 28, 2022
ChinaChina Business & Economyfirst suitemortgagezero-COVID
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A number of Chinese cities recently cut interest rates on personal first suite commercial loans and housing fund loans to boost the home buying market. However, property analysts say that China’s economy is in decline, and market confidence will not be restored by cutting interest rates alone. Starting on Oct. 14, several banks in Tianjin…

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