Tag: China Business & Economy

US Sanctions Network for Selling Iranian Oil to China, East Asia

The United States on Wednesday sanctioned an international network of companies for having allegedly violated oil sanctions on Iran by selling Iranian oil to China and other countries in east Asia. The Treasury Department said in a release it imposed sanctions on the companies that are accused of having facilitated the sale of hundreds of…


Tesla’s Deliveries Fall, Hurt by China’s COVID-Related Shutdown

Tesla Inc. delivered 17.9 percent fewer electric vehicles in the second quarter from the previous quarter, as China’s COVID 19-related shutdown disrupted its production and supply chain. The world’s biggest electric car maker said on Saturday that it delivered 254,695 vehicles in the April to June period, compared with 310,048 vehicles in the preceding quarter,…


Chinese Communist Party Threat Is ‘Massive’: FBI and MI5 Directors

Leaders from the British and American domestic intelligence agencies delivered a rare joint statement on July 6, warning that the Chinese Communist Party (CCP) is the greatest threat to the international order. “The most game-changing challenge we face comes from the Chinese Communist Party,” said MI5 Director General Ken McCallum. “It’s covertly applying pressure across the…


US, China Economic Chiefs Hold ‘Candid and Substantive’ Talks

U.S. Treasury Secretary Janet Yellen had a “candid and substantive” virtual dialogue with Chinese Vice Premier Liu He, the Treasury Department said. During a video call on July 5, Yellen “frankly raised issues of concern including the impact of Russia’s war against Ukraine on the global economy and unfair, non-market” economic practices by the Chinese…


How the Chinese Military is Buying American AI Chips: Report

Despite measures to limit U.S. technology export to the Chinese military, chips designed by U.S. companies still end up in the hands of the People’s Liberation Army (PLA), according to a report by the Center for Security and Emerging Technology (CSET) at Georgetown University. CSET combed through over 66,000 publicly available PLA purchase records during…


Behind China and Hong Kong’s Different Responses to US Interest Rate Hikes

News analysis Amid soaring inflation, mainland China and Hong Kong central banks chose to respond in opposing ways to the U.S. Federal Reserve’s aggressive interest rate hikes, with China loosening its monetary policy, and Hong Kong raising interest rates. On June 15, the Fed raised the primary credit rate by 75 basis points, the largest increase…


China Tightens Rules for Online Platforms, Requiring Companies to Authenticate Users’ Identities

The Cyberspace Administration of China issued new regulations on June 27 requiring all online platform operators to authenticate users’ identities and verify the account information submitted by users during registration. The new regulations require the network information service provider to display user IP addresses on their page of account information, which would facilitate Beijing’s monitoring of user…


E-Payment Industry Growing in China, Despite Risks

News Analysis The electronic payment (e-payment) industry and RMB digital business have been rapidly pushing forward over the past year in China, highlighting the way money will be more easily controlled by the ruling Chinese Communist Party (CCP). Compared to other payment methods such as cash, bills, or bank cards, e-payments are often more convenient,…


Deep Losses in China Force Korean Beauty Companies to Expand in North America

Korean firms have begun expediting their expansion into North America to reduce their dependence on Chinese customers due to difficulties sustaining product sales in China under the Chinese Communist Party’s (CCP) zero-COVID policy. Korea’s success in the United States, where their beauty products are rapidly gaining popularity, has been facilitated in part by the Korean boy band…


China Unlikely to Invade Taiwan If It Affects Economy: Ex-TOPGUN Commander

If the United States opposes a Chinese invasion of Taiwan Beijing, will be unlikely to take the island because the Chinese economy will not withstand the potential sanctions and possible separation from the global economy, said James Robb, former TOPGUN commander and retired Navy admiral. “For China to cut itself off from the United States…