China’s policy stimulus may worsen economic distortions – OECD
China’s stimulus measures will shore up economic growth this year and next but may undermine the country’s drive to control debt and worsen structural distortions over the medium term, the OECD said in a report on Tuesday.
China to Cut US$45 Billion in Fees and Tariffs
China will cut a variety of charges and fees for businesses and individuals as the government seeks to ease the pressure of a slowing economy and trade war with the US. The cuts, which were decided by the State Council at a meeting held on April 3, will lower costs by a total of RMB 300 billion (US$45 billion) in 2019. Although the cuts will not have a significant effect on the health of the economy, it will help to lower financial strains for qualified businesses, if only slightly.
Donald Trump, China Savior? Some Chinese Say Yes
Business leaders and intellectuals say one of Beijing’s toughest critics could force the country to change. Still needed: voices of support from the inside.
US appears split on key clause in trade talks with China
The US is now veering round to the view that it would accept a two-way enforcement system The USTR suggests that the proposed bilateral dispute resolution system should be stationed in Washington to oversee China’s implementation of all the commitments
Hiring in China: Labor Costs, Job Preferences, Talent Market
China has the world’s largest labor market even though its working age population is shrinking. China Briefing looks at key aspects of the country’s labor market in 2019, focusing on labor costs, job preferences among the youth, and the distribution of local talent.
China’s state-owned media condemns 996 work schedule, says it is illegal
China’s top government media outlets are adding their voices to the debate around the 12-hour work practice in the tech industry, harshly reminding entrepreneurs to “obey the rules” and “avoid chaos.”
China’s state-owned media condemns 996 work schedule, says it is illegal
China’s top government media outlets are adding their voices to the debate around the 12-hour work practice in the tech industry, harshly reminding entrepreneurs to “obey the rules” and “avoid chaos.” According to a commentary released Tuesday via state-owned Xinhua News Agency, China Labor Law dictates that work schedules should not exceed eight hours per day and 44 hours on average per week. Given specific reasons, workers can put in a maximum of three hours per day and 36 hours per month of overtime. “Obviously, the 996 work schedule is illegal
Jack Ma defends the ‘blessing’ of a 12-hour working day
The Chinese billionaire and co-founder of the online shopping giant Alibaba has continued to argue for a 9am to 9pm working day, and a six-day week.
China EV Manufacturing Bubble Faces Getting Bludgeoned
There are now 486 EV manufacturers in China, triple from two years ago. Most will disappear.
China asks Japan for concrete measures to improve ‘sensitive’ and ‘fragile’ relationship
Foreign Minister Wang Yi issues plea after meeting Japanese counterpart Taro Kono during his two-day visit to China
(Before) Accepting a Job in China: The Questions to Ask
Most of my China employment work is for employers, but in the last few years, my work representing expat employees just keeps rising and now equals nearly ten percent of my China employment practice. This increase in expat employment law is due to two things: 1) Chinese companies are hiring more expats, and 2) word has gotten out that what expats are promised by their Chinese employers seldom if ever matches what their employment contract says they are getting and fewer expats are willing to just “trust that it will all work out.”
‘Mr Pompeo, you can stop’: China hits back at criticism over Latin America
Foreign ministry spokesman Lu Kang accuses US Secretary of State Mike Pompeo of spreading lies about China He says countries in the region ‘have good judgment about who is their true friend and who is false, who is breaking rules and making trouble
Understanding the cost of quality inspections in China
I am always surprised by the expectations of some importers regarding the cost of quality inspections in a Chinese factory. Some importers get to talk about their project for some time, see where we would help them, and finally (almost as an afterthought) ask: “How much does a quality inspection in China cost?” I say “299 USD per day of work”, and I can nearly hear them thinking “wow these guys are cheap”. They compare this fee to the costs of professional services in their country, or maybe to the total amount of the order, or to the cost of their best alternative (taking a flight to China). So it sounds really low.
Trump Asks China to Shift Soybean Tariffs to Something Else
As part of a trade deal, the US and China will both keep $50 billion in tariffs. Trump asked China to shift tariffs.
China ‘may open door’ to more Brazilian meat imports
Chinese ambassador says meat imports on agenda as part of high-level meeting in May Beijing reassures on Brazilian soy as trade tensions with rival exporter the US ease
The U.S.-China trade war could harm the Amazon’s forests
The intensifying trade war between the planet’s two greatest economic powerhouses may have an unlikely victim: forests in the Amazon. “We forecast that a surge of tropical deforestation could occur as a result of the fresh demand being placed on China’s other major suppliers to provide up to 37.6 million tonnes of the crop (that is how much China imported from the United States in 2016),” a team of experts write in a new paperpublished in the journal Nature.
Improve Japan-China ties through achievements in bilateral cooperation
China asked Japan to be actively involved in its Belt and Road initiative, which seeks to create a huge economic bloc. There have been some cases in which developing countries suffer from excessive debts due to their infrastructure development projects based on the initiative. It is important for Japan to explore the possibility of cooperation with China in this respect, by limiting target matters to those that show consideration to the transparency of projects involved and to the fiscal health of partner countries.
Swiss to support Belt and Road push during president’s China trip
Switzerland will sign an accord backing China’s Belt and Road Initiative when President Ueli Maurer visits China this month, cementing ties with a major trading partner as other Western countries view the gargantuan project with scepticism.
Analysis: Belt & Road’ Will Help World; China, Not So Much
The global economic development initiative that China calls “One Belt, One Road” is considered one of Beijing’s major instruments in its geopolitical battle. But academic Tyler Cowen argues it’s unlikely to do much to boost Chinese power as it helps most of the world.
Malaysia resumes BRI project to avoid $5.3 billion fee
The Malaysian government would have had to pay “termination costs” of RM 21.8 billion ($5.3 billion) if it had cancelled the Chinese rail project connected to the Belt and Road Initiative (BRI) infrastructure scheme, said Malaysian Prime Minister Mahathir Mohamad, reported the Financial Times.
China’s Hebei province to ban expansions of 11 heavy industries -Xinhua
China’s Hebei province on Tuesday announced a ban on capacity expansions in 11 industries, including steel, coking and petrochemicals, in eight cities, Xinhua News reported, citing a provincial government document.
Culture Marketing Is the Secret Weapon for Success in China
’Ciao by Tod’s‘ campaign is not engaging to Chinese consumers because there is no sign of a two-way conversation, no engagement with the customer’s unique circumstances. Photo: Tod’s
The way fashion is consumed has changed significantly over the last decade. A new era opened when social media gave customers and fans a voice, and brands were completely unprepared for it. Previously, these brands were the market influencers, and their power wasn’t challenged. But with the emergence of the China market, which has its own specific rules and an even more democratic social media approach, fashion brands need new marketing approaches to meet the needs of this new, hard-to-please target audience.
NATO countries need to stop China from winning the 5G race
Fears that Huawei and its 5G wireless equipment could be exploited by the Chinese government to spy on other countries have been growing, spurring some countries — like the United States — to ban the company’s products altogether. Huawei denies that any of its products pose a national security risk. But a recent report from NATO suggests that banning the company’s products would be shortsighted from a strategic standpoint. While measures need to be put in place to ensure Chinese officials aren’t exploiting Huawei’s equipment, rejecting Huawei and its products could prevent many prospective customers in the West from using the company’s state-of-the-art technology to develop their own advanced 5G downstream services.
Sweden’s Ericsson under investigation in China over licensing issues amid 5G network roll-outs
Telecoms equipment maker Ericsson earns about seven per cent of its annual revenue in China
Hong Kong’s dollar millionaires swell at the slowest pace since 2014, due to trade war-induced bear market
The number of people worth HK$10 million (US$1.27 million) or more in total assets – including property – rose by 3 per cent in 2018 to a record 511,000, while those with liquid assets grew 1.5 per cent to 69,000 Hong Kong’s stock market was one of Asia’s top losers last year, with the benchmark index dropping nearly 14 per cent, due to the trade war between the United States and China
Huawei says telecom business to resume double-digit growth in 2019
China’s tech giant faces headwinds as global market forecast to hit 2.8bn 5G users by 2025
US to press allies to keep Huawei out of 5G in Prague meeting
Sources say US will push for shared security and policy measures that make it harder for Chinese telecommunications giant to dominate networks Plan marks strategic shift by Washington to ‘softer’ approach in urging allies to drop Huawei
China’s mass urbanisation projects mean the end for Guangzhou’s 800-year-old urban villages
In Guangdong province, villages are being torn down to make way for modern office buildings and apartment complexes as part of the ‘Greater Bay Area’ plan Chentian village has stood for over 800 years and is home to an estimated 100,000 residents, but will transform in just a few years
China’s smaller cities have modest rebound in March as homebuyers return, snapping a four-month deceleration in prices
Prices of new homes rose in 65 out of the 70 cities covered, a big increase from 57 in February Smaller, far-flung cities saw the biggest pickup in prices
Buick unveils all-electric car in China in $25,000 range
GM-owned brand to supply local car-sharing company with 5,000 vehicles
Chinese electric vehicle maker Xpeng unveils P7 four-door coupe at Auto Shanghai 2019, months after SUV roll out
Company to start delivery from second quarter of 2020, will announce a price later Construction on factory in Zhaoqing on track, production to start in September this year
China’s $18Bn Electric-Car Bubble Is at Risk of Bursting
There are now 486 EV manufacturers registered in China, more than triple the number from two years ago. While sales of passenger EVs are projected to reach a record 1.6 million units this year, that’s likely not enough to keep all those assembly lines humming, prompting warnings that the ballooning EV market could burst and leave behind only a few survivors. “A large amount of companies will be eliminated in a year, and 90 percent of the investors will suffer great losses,’
Volkswagen bets on electromobilty in China
The Chinese car market has grown rapidly over the past 20 years, with Germany’s VW group now selling every second car there. But as the fat years seem to be over, VW has made a risky bet on electric vehicles for growth.
China’s car market to return to growth this year, executives say
China’s car market will return to growth in the second half of this year due to government support although the days of high single or double-digit growth are over and consolidation is likely, senior automotive executives said on Tuesday.
Tencent to develop its own gaming phone: report
Chinese mobile game giant Tencent is in touch with several original design manufacturers (ODMs) to develop its own gaming phone, according to an unconfirmed report (in Chinese) by Chinese media 36Kr.
Will upbeat economic data make China tap the brakes on monetary easing?
China’s bond market sold off sharply this week as a slew of unexpectedly strong economic indicators prompted investors to ask if country’s latest round of monetary easing may be drawing to a close.
Understanding the cost of quality inspections in China
I am always surprised by the expectations of some importers regarding the cost of quality inspections in a Chinese factory. Some importers get to talk about their project for some time, see where we would help them, and finally (almost as an afterthought) ask: “How much does a quality inspection in China cost?”
I say “299 USD per day of work”, and I can nearly hear them thinking “wow these guys are cheap”.
They compare this fee to the costs of professional services in their country, or maybe to the total amount of the order, or to the cost of their best alternative (taking a flight to China). So it sounds really low.
China’s Solar Industry Expected To Be Subsidy-Free In 2021
China’s solar industry is expected to transition towards a subsidy-free market which could begin as early as 2021, according to a new analysis of China’s solar industry published by Asia Europe Clean Energy (Solar) Advisory.
Communist Party reformer Hu Yaobang remembered in low-key ceremony
No official events held to mark 30th anniversary of his death, which sparked the 1989 pro-democracy movement and subsequent military crackdown More than 300 people paid their respects at a memorial in Jiangxi province
The Great Hoards of China
Is the country’s clutter chaos a product of its culture? Discarded items are ubiquitous in Chinese cities. Outside most apartment complexes, the remains of busted household appliances, unwanted furniture, outmoded clothing, and discarded plastic toys await collection from scrap collectors.
Money lures migrants to overstay in China
Domestic workers routinely cross the border from Macau to Zhuhai on one-day visas
Notre Dame fire attracts wave of sympathy in China, but some web users revive old grievances over destruction of Old Summer Palace
Some social media users regard devastation in Paris as karmic payback for destruction of imperial palace during the second opium war But many others lament damage to historic cathedral as state broadcaster warns people not to be ‘narrow-minded and pathetic’
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