Tag: China Business & Economy

China and Russia Want to Replace US Dollar With BRICS Currencies

July 11, 2022
BRICsBusiness & MarketsChinaChina Business & EconomyEurope-China RelationsFinance & Business TiesGlobal ExpansionInternational RelationsSpecial TopicsswiftUS-China relations
0 Comment

News Analysis BRICS members call for cross-border payment in BRICS currencies to challenge the U.S. dollar. The BRICS—an acronym for Brazil, Russia, India, China, and South Africa—held a summit on June 23. The meeting, chaired by Chinese leader Xi Jinping, was part of a lengthy series of BRICS cooperation events, which began on June 6 with…

Read More

Nearly 30 Percent of China’s Textile Enterprises Lost Money, Total Profits Dropped 20 Percent

July 11, 2022
CCP VirusChinaChina Business & Economychina economy slowsOmicrontextile industry
0 Comment

Data shows that in the first five months of this year, nearly 30 percent of enterprises in China’s textile industry operated at a loss, and the total profit of enterprises decreased by nearly 20 percent compared with the same period last year. According to data released by China National Textile and Apparel Council this month,…

Read More

Chinese Property Developer Ronshine Misses Interest Payments on Two Bonds

July 10, 2022
Business & MarketsChinaChina Business & EconomyChinese property developereconomyInterest PaymentRonshine China Holdings
0 Comment

HONG KONG—Chinese property developer Ronshine China Holdings Ltd. has not made interest payments on its June 2023 and December 2023 notes, totalling $27.9 million, in the latest blow to China’s embattled property market. Ronshine has not made payment of $12.798 million interest on the 8.1 percent senior notes due June 2023, which became due and…

Read More

Chinese Steelmakers Report Crippling Losses From Weak Demand

July 10, 2022
Business & MarketsChinaChina Business & Economychina's property marketcommoditieseconomyexcavatorsInvestmentmachineryMarketssteel millssteelmakerszero-covid policy
0 Comment

Chinese steelmakers have reported significant losses from weak demand and low prices. Data released on June 28 showed that only 15 percent of Chinese steel mills remain profitable, a 27 percent drop from the first quarter and a 59 percent plunge compared to the same period last year. According to China’s National Bureau of Statistics,…

Read More

Tesla Sells Record High China-Made Vehicles in June

July 8, 2022
Business & MarketsChinaChina Business & EconomyCompaniestesla
0 Comment

SHANGHAI—Tesla in June achieved its highest monthly sales of China-made vehicles since opening its Shanghai plant in 2019, data showed on Friday, as the U.S. carmaker ramped up output which had been hit by the city’s COVID-19 lockdown. Tesla sold 78,906 China-made vehicles in June, including 968 for export, the China Passenger Car Association(CPCA) said….

Read More

China’s Fashion Giant Shein Hit With Copyright Lawsuit Amid Allegations of Unethical Labor Practices

July 8, 2022
Business & MarketsChinaChina Business & EconomyChina Human RightsCompaniese-tailerlabor lawsSheinUS-China relations
0 Comment

News Analysis Shein, China’s ultra-fast fashion online store and the most downloaded shopping app in the United States, is hit with a new lawsuit as it faces criticism for the alleged poor treatment of its workers. On June 15, Magdalena Mollmann, a Florida-based artist professionally known as Maggie Stephenson, filed a lawsuit of more than…

Read More

Fiji Grants Licenses to Chinese Mining Firm to Search for Gold

July 8, 2022
Asia & PacificAustraliaChinaChina Business & EconomyChina-Australia RelationsChinese miningFijiGlobal ExpansionInternationalInternational RelationsSouth PacificSpecial TopicsWorld
0 Comment

Fiji’s Lands and Mineral Resources Ministry has issued two special prospecting licenses to Chinese mining company Ding Jing Mining Pty Ltd more than a year after local residents raised objections to the move. It comes amid concerns of Beijing’s ongoing influence in the Pacific following Chinese Foreign Minister Wang Yi’s tour of eight Pacific nations….

Read More

Opinion: Beijing’s Latest Anti-Corruption Regulation Deflects Attention From China’s Real Problems 

July 7, 2022
anti-corruption campaignsCCP (Chinese Communist Party)ChinaChina Business & EconomyChinese RegimecorruptionOpinionSocial IssuesThinking About ChinaXi Jinping
0 Comment

Commentary State-run China Daily reported on June 20 that “the General Office of the Communist Party of China Central Committee has issued a regulation on the business activities of relatives of officials.” While not fully explained, this appears to be the latest measure targeted at Chinese Communist Party (CCP) bureaucrats and apparatchiks in Chinese leader…

Read More

Meta Sues US Subsidiary of Chinese Company for Scraping User Data

July 7, 2022
Business & MarketsCCPChinaChina Business & EconomyChinese RegimeCompaniesdataGlobal ExpansionInfiltrating the WestInternational RelationsMedia & Big Techmetasocial controlSpecial TopicsTech CompetitiontechnologyThreat from Communist ChinaUSUS NewsUS-China relations
0 Comment

Meta is suing the U.S.-based subsidiary of a Chinese tech firm and one individual, which it accused of illegally scraping data from Facebook and Instagram. “Today, we’ve filed separate actions in federal court against Octopus and Defendant Ekrem Ateş for scraping data from Facebook and Instagram,” a Meta representative said in a press statement on…

Read More

US Intelligence Warns State and Local Leaders to Be Wary of China’s Influence Activities

July 7, 2022
CCPChinaChina Business & EconomyChina-Australia RelationsChinese RegimeEurope-China RelationsFinance & Business TiesGlobal ExpansionInfiltrating the WestIntelligenceInternational RelationsNational Securitysocial controlSocial IssuesSpecial TopicsThreat from Communist ChinaUSUS NewsUS-China relations
0 Comment

The Office of the Director of National Intelligence released a document on July 6 warning state, local, and business leaders to be on the lookout for malign influence operations conducted by China’s ruling communist regime. “For decades, a broad range of entities in China have forged ties with government and business leaders at the state…

Read More