Tag: China Business & Economy

US Law on Forced Labor Changes China’s Cotton Industry

June 23, 2022
ChinaChina Business & EconomyChina Human RightsChinese RegimeUFLPAUSUS NewsUS-China relationsXinjiangXinjiang Cotton
0 Comment

The U.S. Uyghur Forced Labor Prevention Act (UFLPA) came into effect on June 21. This potentially far-reaching legislation prohibits imports that are made by forced labor in Xinjiang, China, which includes cotton products. About 90 percent of China’s cotton is produced in Xinjiang, and the region has almost no capacity to provide evidence that forced…

Read More

US Law on Forced Labor Could Change China’s Cotton Industry

June 23, 2022
ChinaChina Business & EconomyChina Human RightsChinese RegimeUFLPAUSUS NewsUS-China relationsXinjiangXinjiang Cotton
0 Comment

The U.S. Uyghur Forced Labor Prevention Act (UFLPA) came into effect on June 21. This potentially far-reaching legislation prohibits imports that are made by forced labor in Xinjiang, China, which includes cotton products. About 90 percent of China’s cotton is produced in Xinjiang, and the region has almost no capacity to provide evidence that forced…

Read More

Aftermaths of the Shanghai Lockdown Linger

June 23, 2022
ChinaChina Business & Economychina decouplingchina foreign investmentChinese emigrationChinese Regimeshanghai lockdownzero-covid policy
0 Comment

On June 1, Shanghai lifted its two-month-long Covid lockdown, declaring that work and production would resume, except in the “controlled areas” where residents still undergo regular nucleic acid testing. As a result of Beijing’s zero-Covid policy, some commentators believe that residents and businesses alike have reflected on the impact of the communist authority’s extreme measures…

Read More

Bank Runs Happening Across China, People Complain Hard to Obtain Cash

June 23, 2022
Bank RunChinaChina Business & EconomyShanghaiShenzhen
0 Comment

After nearly one million Chinese people were unable to access their bank deposits in central China’s Henan province earlier this year, residents in east China’s Shanghai, south China’s Shenzhen, north China’s Dandong, and central-east China’s Jiujiang reported the difficulties they faced when trying to withdraw cash from their bank accounts. Some banks will only serve a…

Read More

CCP Bans Officials and Their Families From Business Activities

June 23, 2022
Asia & PacificCCP 20th Party CongressCCP Central CommitteeChinaChina Business & EconomyChinese RegimeFinance & Business TiesInside CCP OfficialdomLi KeqiangSpecial TopicsWorldXi Jinping
0 Comment

China’s ruling communist party (CCP) has issued a new regulation in the name of anti-corruption banning high-ranking officials and their families from big business activities. Experts pointed out that it’s related to the CCP’s factional infighting and economic problems. According to the Chinese regime’s official media Xinhua, on June 19, the Central Committee of the CCP…

Read More

US Trade Representative Cautions Against Removing Trump-Era Tariffs on Chinese Imports

June 23, 2022
ChinaChina Business & EconomyeconomyExecutive BranchJoe BidenPoliticstariffsU.S. Trade RepresentativeUSUS NewsUS-China relationsyellen
0 Comment

U.S. Trade Representative Katherine Tai told the U.S. Senate on Wednesday that “the China tariffs are a significant piece of leverage,” while President Joe Biden is considering lifting some tariffs on Chinese goods to fight inflation. The Trump administration imposed up to 25 percent tariffs on Chinese imports in 2018 and 2019, since an investigation concluded the Chinese…

Read More

Tesla’s Austin and Berlin Plants ‘Losing Billions’ Amid Supply Chain Issues: Musk

June 23, 2022
Business & MarketsCCP VirusChinaChina Business & EconomyCompaniesElon MuskTechteslaUSUS News
0 Comment

Elon Musk said on Wednesday that Tesla’s new plants in Texas and Berlin are “losing billions of dollars” due to battery shortages and supply chain disruptions prompted by government mandated COVID-19 lockdowns in China. Tesla opened its Austin-based Gigafactory in April of this year, while its Berlin-Brandenburg plant officially opened in March. “Both Berlin and Austin factories are gigantic…

Read More

Musk Says His China Interests Won’t Affect His Free Speech Stance on Twitter

June 23, 2022
Business & MarketsChinaChina Business & EconomyCompaniesFinance & Business TiesMedia & Big TechSpecial TopicsteslaTwitter
0 Comment

Tesla chief executive Elon Musk on Tuesday said he has no problem balancing his planned acquisition of Twitter with his business dealings in China. When attending the Qatar Economic Forum via video link, Musk was asked if he could balance his stance on free speech in the Twitter bid and his Tesla’s interests in China…

Read More

Desperate Chinese Property Developer Willing to ‘Swap Wheat for House’

June 22, 2022
Business & MarketsChinaChina Business & EconomyChinese property developereconomypaymentSocial Issueswheat
0 Comment

HONG KONG—A desperate developer in China’s softening property market is coming up with a novel promotion to attract buyers, recently offering to take wheat and garlic as down payments. One advertisement of Henan-based Central China Real Estate that had “swap wheat for house” in the title says buyers can use the crop, priced at 2…

Read More

S&P Cuts Chinese State-Backed Developer Greenland to ‘Selective Default’

June 22, 2022
Business & MarketsChinaChina Business & Economychina developerCompaniesdefault
0 Comment

HONG KONG—Chinese state-backed Greenland Holdings Corp. Ltd. was on Wednesday downgraded to “selective default” by rating agency S&P Global, after the property developer extended the maturity of its $500-million bonds by one year. Shanghai-based Greenland is the first state-backed developer to extend a dollar-bond payment since the country’s property sector plunged into a debt crisis,…

Read More