Five Chinese state-owned companies to delist from New York Stock Exchange

Economy 08/14/22, 03:49

Nikkei Asia reported that five Chinese state-backed firms, including the country’s leading energy and chemical company, announced plans on August 12 to delist from the New York Stock Exchange (NYSE). Five companies, which include China Life Insurance, PetroChina, oil giant Sinopec, Sinopec Shanghai Petrochemical and Aluminum Corporation of China, said in ...

China censors a popular medical site for doubting a herbal COVID treatment

Economy 08/14/22, 03:46

Lilac Garden, or DXY, a popular Chinese medical information site, was banned and fined after posting an article questioning the effectiveness of a regime-promoted herbal COVID treatment. The drug trademark Lianhua Qingwen is a herbal remedy marketed for fever and sore throats. According to Agence France-Presse, DXY was banned due to ...

‘Early repayment’ is actually a trap set up by the CCP

Economy 08/13/22, 15:08

After a large number of unfinished buildings in China caused a wave of supply cuts. Big media in China has recently begun to discuss the "early repayment of loans and less interest." On this topic, some commentators pointed out that the housing price increase cannot outpace the interest rate, and ...

China’s chip industry keeps taking a hit as two directors of SMIC resign

Economy 08/13/22, 03:17

China’s Semiconductor Manufacturing International Co. (SMIC) on Thursday, August 11, announced the resignation of its two board members; co-CEO Zhao Haijun and independent director William Tudor Brown. The company made the announcement about the board member change in its filing on the Hong Kong Stock Exchange.  Mr. Zhao Haijun resigned as executive ...

Many private firms in China temporarily halted or closed as businesses in trouble

Economy 08/13/22, 03:04

RFA reported that the Covid-19 epidemic had caused big difficulties for many private enterprises in China, forcing them to cut headcount, suspend operations, and even stop production. A technology company in Dongguan City, Guangdong Province, decided to suspend production on July 31. Hardware manufacturing company Dongguan Jieying decided to cease operations on ...

People protest: Demanding ‘Minsheng Bank returns the money!’

Insights 08/12/22, 16:34

People collectively protested at the Minsheng Bank, Shenzhen, to protect their interests, again attracting Chinese citizens' attention on Thursday, Aug. 11. Earlier, authorities suppressed a wave of protests by depositors in local banks in Henan Province. The Politburo meeting of the CCP Central Committee also emphasized "maintaining the general stability of ...

India threatens to block Chinese cell phone sales and Xiaomi shares plunge

Trending 08/12/22, 12:03

India is looking to restrict Chinese sales of smartphones under $150 to revitalize its faltering domestic market.    This would mean a blow to the already deteriorating economic situation of China's Xiaomi Corp. and, by extension, the expulsion of Chinese firms selling phones under $150.  India, ”which is Xiaomi’s most important overseas ...

4,200 rich Chinese individuals migrate abroad in first half this year

Economy 08/12/22, 02:29

Thousands of millionaires are fleeing mainland China, bringing with them billions of dollars out of the country. So where are they moving to? Henley & Partners is a London-based investment immigration consulting company. Singapore’s Lianhe Zaobao cited a Henley report revealing that about 4,200 high-net-worth individuals in China migrated abroad in ...

Chinese TV intern’s sexual harassment case appeal rejected

Economy 08/12/22, 02:28

A court in Beijing on August 10 turned down an appeal from a sexual harassment plaintiff against a popular host of state broadcaster CCTV.  As Reuters reported, 29-year-old Zhou Xiaoxuan was appealing against a Beijing court ruling last year that her sexual harassment case against CCTV host Zhu Jun lacked evidence. In ...

Outlook for Chinese job-hunting college grads bleak

Economy 08/11/22, 13:58

Am I not worth it?” Liu Qian asked. “From the moment I started looking for a job, I felt as if my future were smashed by a machine, and I didn’t know if I could put it back together.” The Associated Press reported that Liu received her master's degree this ...

Chinese investors turn to jade amid real estate market downturn

Economy 08/11/22, 03:20

Chinese investors are now laying their trust in jade besides real estate, with prices for the precious stone forecasted to keep climbing in the future. Kitty Chan, a director at the Hong Kong Jewellery and Jade Manufacturers Association told the Financial Times, “From 1990 to 2000, pretty much when you go ...

‘Zero-COVID’ makes Chinese young people afraid to have children

Economy 08/10/22, 14:16

For a long time, China has been the most populous country in the world. But recently, demographers say the CCP's harsh zero-COVID policy may have deeply affected young Chinese from having children and accelerated the population decline. Some analysts have pointed out that this trend not only damages the Chinese economy, ...