China’s small factory activity strengthened in August thanks to rise in production, new orders, export sales
Caixin/Markit manufacturing purchasing managers’ index (PMI) rose to 53.1 in August from 52.8 in July, with a reading above 50 signifying growth. The survey followed official PMI data released on Monday which again showed a positive outlook for larger Chinese manufacturers.
An Economic Recovery From COVID-19 in 2021 Is Possible – But Massive Uncertainty Remains
COVID-19 has had a devastating effect on human life. But it has also caused widespread economic upheaval for both advanced and emerging market economies as countries shut down to try to stop the spread of the virus. The U.S. for instance is set to see the most severe economic downturn since GDP was first tracked in the 1940s. This means deep hardship for many businesses of all sizes and across all industries. Shutdowns caused many firms to entirely cease operations for a time. Now, they are grappling with plummeting demand as a result of rising unemployment and uncertainty, on top of supply chain difficulties and uncertainty as to financing resources.
Trump’s trade tariffs? Coronavirus? China’s exports are surging anyway
This was supposed to be the year that China’s export machine began to stall. President Donald Trump had imposed broad tariffs on Chinese goods. Countries like Japan and France pushed companies to shift production from China. The pandemic had crippled China’s factories by the end of January.
China’s sovereign digital currency plans must be globally compatible to internationalise the yuan, analysts say
The ‘interoperability’ of the digital yuan with international payment systems and other central bank digital currencies will determine its use abroad. There is a sense of urgency to promote greater use of the yuan to help China offset threat of worst-case US sanctions that could cut it off from dollar payment system.
China must reform financial markets to ward off US financial sanctions, think tank urges
China Finance 40 Forum group of senior Chinese regulatory officials and financial experts call for more cooperation with United States to avoid escalation of bilateral conflict. Bigger, more open financial markets would attract foreign investors, blunting US efforts to sanction China financially, group says.
The US and China are headed for competition but not a Cold War
The emerging geographical perspective of the 21st century is still slightly out of focus. But what is certain is that it will revolve around China and the US, locked in competition for that pivotal position in the world system, writes Rodger Baker, senior VP of strategic analysis at Stratfor.
Inside China’s Belt and Road Tangle
Far from being a strategic masterplan, the BRI is a chaotic enterprise that contains the seeds of its own negation.
White House will crack down on more Chinese apps after TikTok, WeChat, Trump adviser Navarro says
‘It is critical that this country not use apps that are made in China,’ White House trade adviser Peter Navarro said in an interview. The Trump administration has previously issued orders banning transactions related to TikTok and WeChat, and ordering ByteDance to divest its US operations.
Huawei Phone Prices Climb Amid Shrinking Access to Essential Chips
Earlier this month, an executive said the Chinese telecom giant would no longer be able to produce its flagship Kirin microchips after Sept. 15 due to U.S. sanctions.
Zoom soars on surging sales, forecasts that swamp estimates
Video-meeting service Zoom reported the second-largest sales surge among Nasdaq 100 companies last quarter. Its shares soared more than 22 per cent in extended trading.
Hong Kong to surpass Nasdaq as king of biotech listings in five to 10 years as Chinese scientists dominate field, HKEX chief predicts
There is no question HKEX is one of the only two real global biotech equity fundraising centres, CEO Li says. Chinese scientists expected to dominate research as they are racing ahead in sector after sector in life sciences.
Short video platform Kuaishou unveils ambitious new e-commerce targets amid live-streaming boom
Kuaishou plans to incubate 100,000 businesses and help them achieve US$146,000 in annual sales within the year. It also wants to groom 10,000 live-streamers and host over 1 million e-commerce live-streaming sessions during this period.
Tesla’s made-in-China Model Y launch imminent after resounding success of Model 3 among mainland buyers
Launch of Tesla’s upcoming Model Y crossover utility vehicle likely to build pressure on Chinese rivals after Shanghai-made Model 3 is a hit with drivers. Tesla’s Model Y could be launched in the first quarter of next year as plans are going as per schedule.
Over 17,000 firms to attend int’l trade fair in China
More than 17,000 companies will attend the upcoming China International Fair for Trade in Services (CIFTIS) in Beijing, organizers said. As of Aug. 30, over 2,000 firms had signed up as offline exhibitors, while more than 4,000 companies will showcase their products and services online.
‘Darkest moment’ for earnings over, as profit growth at China’s listed companies rebounded in second quarter from worst showing in decade
Mainland’s publicly traded companies posted an 18 per cent drop in second-quarter earnings, compared with a 42 per cent slump in the previous three-month period. Smaller companies outstripped bigger ones in profit growth, while the telecommunications and agricultural industries recorded the biggest earnings increases.
Coronavirus: China’s migrant workers determined to stay in cities as most see ‘no hope’ in rural hometowns
Most migrant workers want to stay in big cities for education and health care, despite the economic impact of the coronavirus pandemic, a new survey shows. But a lack of local residency permits, pressures on jobs and income make city living difficult for migrants who have been among the hardest hit by the outbreak.
When do we trust in China hiring process?
Well, thinking we can hire people in China and trust them until they prove trustworthy is not a good model. Take a look at this case put up by the Canadian government.
Chinese broker pressuring Hong Kong employees to join city’s coronavirus testing programme, union says
Founder Securities told staff to present test results as proof, according to Hong Kong Financial Industry Employees General Union. Union said testing is voluntary and workers have the right to choose to participate ‘based on their actual needs and wishes’.
Listening in on US–China relations
Steve Bannon, the former White House chief strategist, claims that US President Donald Trump has put together a ‘war council’ to take down the Chinese Communist Party (CCP) during the COVID-19 pandemic. Will China’s messages cut through to the United States? Will China behave according to the gentle signals it is trying to convey? The coming months before the US election will be critical for US–China relations. It is time for the United States and China to work together to avoid a real, even if accidental, apocalypse.
US’ anti-China call to arms has not won over all of Europe
Foreign Minister Wang Yi’s tour of Europe comes at a time of heavy US pressure for the EU to step back from its dialogue and cooperation with China But despite the frosty reception by some, a number of people are voicing support for a more balanced view of China, taking in all facets of the relationship.
Top Chinese diplomat Yang Jiechi to visit Greece and Spain this week
Back-to-back European visits by two Chinese foreign policy officials signal Beijing’s urgency to prevent further rebalancing in favour of the US, say analysts. The Chinese foreign ministry announced Yang’s trip, which also includes a stop in Myanmar.
The big China disaster that you’re missing
The world’s largest dam is under pressure in the massive flooding that’s wiping away billions of dollars of value in China. The predicament symbolizes a looming crisis for Beijing. Climate change is bringing more frequent and intense deluges that threaten the economic heartland, and infrastructure defenses installed with the disasters of previous eras in mind can’t keep up. There’s very little time to prepare for what’s coming.
Why the US footprint in Asia looks set to shrink
The blow to globalisation dealt by the coronavirus will be exacerbated by US presidential candidates running on protectionist platforms. The result may be a reduction of American influence in Asia, with China gaining ground.
China-US relations: Donald Trump planning more curbs on students, says Mike Pompeo
Secretary of State tells radio programme US President has taken a ‘serious, serious look’ at espionage concerns but says ‘not all Chinese students are spies’ Comments come as it emerges University of North Texas told 15 researchers on a Chinese government scholarship they would have to leave the country.
Economic decoupling of U.S., China “long way away”: former IMF economist
China and the United States are closely connected economically, and an economic decoupling is “a long way away,” said Eswar Prasad, former head of the International Monetary Fund’s China division, earlier this week.
China-India relations: Beijing rejects New Delhi’s claim of provocation after flare-up at border in Ladakh
China’s foreign ministry says PLA troops ‘never cross the Line of Actual Control’ after being accused of trying to shift status quo. India’s coronavirus battle may have the Modi government attempting to shift blame to China to win domestic support, says expert.
South China Sea: Duterte rejects call to drop contracts with Chinese firms
Philippine foreign secretary Teodoro Locsin, Jnr said Manila should join the US in blacklisting 24 Chinese companies involved in building artificial islands But President Rodrigo Duterte has said the Philippines is a free and independent country, and needs Chinese investment.
At US-India dialogue in October, China and defence cooperation will be high on agenda
India’s External Affairs Minister S. Jaishankar says Washington and New Delhi are now thinking of how to ‘secure the world and make it a better place’. His comments come hours after Indian and Chinese militaries accuse each other of provocation on their disputed Himalayan border
US seeks formal alliance similar to Nato with India, Japan and Australia, State Department official says
Washington’s goal is to get countries in the Indo-Pacific region to work together as a bulwark against ‘a potential challenge from China’, says the US official. He says the four nations are expected to meet in Delhi sometime this autumn.
US moves bolstering Taiwan are meant to ‘restore balance’, US diplomat David Stilwell says
Recent visits, agreements, US diplomatic support and military sales to Taipei are deemed an ‘adjustment’ in response to Chinese aggression. Ties between Washington and Taipei have warmed significantly in recent months, something of a mirror image of deteriorating US-China relations.
Guangxi University’s ‘Suggested Dress Code’ Sparks Discussion on Harassment
To “avoid temptation,” the school had advised female students not to wear clothing that might be considered “too revealing.”
Modern ‘Ai’: Love and Socialism in Republican China
Although most often linked to Christianity, early 20th century political leaders like Sun Yat-sen imbued the concept of “universal love” with decidedly radical meaning.
China-India border clash: foreign ministers call for calm ahead of talks
Further dialogue to take place on Tuesday, but heavy military presence continues. The two sides remain at odds in their views of the weekend’s confrontation at the disputed border area of Pangong Tso.
Australia does not know why journalist Cheng Lei was detained in China, minister says
Trade minister Simon Birmingham said the Australian embassy was given consular access to the business anchor via video link on August 27. Tensions between Australia and China have been high this year after Canberra called for a probe into the source of the coronavirus pandemic.
China Launches 1-Year Campaign Against Theft of Cultural Relics
Under Chinese law, all artifacts within the country’s territorial boundaries are property of the state.
ByteDance founder Zhang Yiming reconsiders TikTok options after new China rules
ByteDance’s regulatory team and deal negotiators are said to be discussing whether it is still possible to craft a sale that can win approval from both Beijing and Washington. The need for approval from the two governments could push any final deal beyond the November elections in the US.
Chinese prosecutor fired for ‘asking alleged loan shark’s family for bribe’
Official has been placed under investigation after court was told a recording had been made of alleged US$44,000 shake-down Money-lender’s daughter gave up job with US venture capital firm to return home to help father’s defence.
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