When banks in Henan Province refused to let people access their deposits, large-scale protests broke out in July. The local authorities responded with plans to repay those with frozen accounts in rural banks. The reimbursements reportedly entered a third stage on Aug. 1. However, one protester revealed that the first two rounds of repayments weren’t…
China’s Minister of Industry and Information Technology Removed as CCP Infighting Intensifies
August 3, 2022
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Aluminum Corporation of ChinaChinaChina Business & EconomyChinese RegimeFinance & Business TiesInside CCP Officialdomminister of Industry and Information TechnologySpecial TopicsXiao Yaqing
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The Chinese communist regime’s minister of Industry and Information Technology was suddenly removed from office. Multiple news outlets said that before he was taken away for investigation, he tried to commit suicide, and his sudden removal from post might have something to do with different corruption cases. On July 28, the regime’s Central Commission for…
US Ambassador to Japan Warns of Chinese Economic Coercion
August 3, 2022
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Asia & PacificChinaChina Business & Economyeconomic coercionEuropeNancy PelosiNational SecurityRahm EmanuelRussia-Ukraine WarTaiwanUSUS-China relationsWorld
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TOKYO—The United States is working with Japan and other likeminded countries to counter China’s efforts to use its economic might to force political change around the world, the U.S. ambassador to Japan said Tuesday in an interview with The Associated Press. Rahm Emanuel, who was previously mayor of Chicago and chief of staff for President…
US Targets Chinese, UAE Firms in New Iran Oil Sanctions
August 3, 2022
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Business & MarketsChinaChina Business & EconomyChineseCompaniesInternationalIranUnited Arab EmiratesUSWorld
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WASHINGTON—The United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars in Iranian oil and petrochemical products to East Asia as it seeks to raise pressure on Tehran to curb its nuclear program. The U.S. Treasury and the U.S. State Departments imposed sanctions on…
China’s Local Financial Shortfall to Reach 6 Trillion Yuan As Housing Market Plunges: Expert Predicts
The Chinese real estate market collapsed in July with all indices falling. An expert predicts that the real estate plunge, together with the economic slowdown, will lead to a financial shortage of 6 trillion yuan (about $889.6 billion) for local governments for the year, as the local governments’ revenues from land sales may be halved…
China Denies Claims of Insufficient Medical Insurance Funds Amid Mounting Public Concern
China’s healthcare authority issued a rare response amid mounting public concern that there was insufficient money in the nation’s healthcare fund because of repeated COVID-19 testing and increased hospitalizations due to the pandemic.. In a disclosure aimed at easing public concern, China’s National Healthcare Security Administration (NHSA), on July 23, said the national medical insurance…
New Zealand PM ‘Looks Forward’ to Visiting to China When Zero-COVID Restrictions Ease
August 1, 2022
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Asia & PacificBusiness & MarketsChinaChina Business & EconomyInternational RelationsJacinda ArdernNew ZealandNew Zealand-ChinaPacific regionUS-China relationsWorld
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One day after the final stage of New Zealand’s border reopening was completed, Prime Minister Jacinda Ardern expressed her willingness to lead a business delegation to China to strengthen in-person connections. “As we mark 50 years of diplomatic relations, we look forward to the return of in-person ministerial visits,” Ardern told the China Business Summit…
New Zealand PM ‘Looks Forward’ to Visiting China When Zero-COVID Restrictions Ease
August 1, 2022
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Asia & PacificBusiness & MarketsChinaChina Business & EconomyInternational RelationsJacinda ArdernNew ZealandNew Zealand-ChinaPacific regionUS-China relationsWorld
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One day after the final stage of New Zealand’s border reopening was completed, Prime Minister Jacinda Ardern expressed her willingness to lead a business delegation to China to strengthen in-person connections. “As we mark 50 years of diplomatic relations, we look forward to the return of in-person ministerial visits,” Ardern told the China Business Summit…
Chinese Factory Activity Sinks, Weighing on Weak Economy
July 31, 2022
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Business & MarketsChinaChina Business & Economychina's factory activitychinese manufacturingeconomyXi Jinping
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BEIJING—Chinese manufacturing’s recovery from anti-virus shutdowns faltered in July as activity sank, a survey showed Sunday, adding to pressure on the struggling economy. Factory activity was depressed by weak global demand and anti-virus controls that are weighing on domestic consumer spending, according to the national statistics agency and an official industry group, the China Federation…
Thousands of UK Firms Cut Ties With China Amid Rising Tensions: Industry Group
July 31, 2022
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Business & MarketsCBIChinaChina Business & EconomyChinese Communist Party (CCP)Chinese RegimeCompanieseconomyKwasi Kwartengliz trussNewport Wafer FabRishi SunakUKWorld
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Thousands of British businesses are cutting their economic ties with China as they anticipate faster decoupling between China and the West, a major UK business group has said. Confederation of British Industry (CBI) Director-General Tony Danker said thousands of companies in the UK are currently rethinking their supply chains in anticipation of hardening anti-China political…
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