Apple tells suppliers to follow China’s order of Taiwan parts labeling

Economy 08/07/22, 04:21

Nikkei Asia has reported from sources that smart device favorite Apple is urging suppliers to abide by Beijing’s customs regulations on parts sent from Taiwan to China.  This means that components from the self-ruled island would have to be labeled "Taiwan, China" or "Chinese Taipei" to be accepted into the mainland. ...

Alibaba: Revenue growth goes negative for the first time, net profit halved

Economy 08/07/22, 04:20

Under the influence of the epidemic and slow economic growth, Alibaba’s second-quarter earnings report showed its first negative growth in quarterly revenue since its listing in the United States, and net profit halved. On August 4, Alibaba sales were about $30.5 billion for the second quarter, an annual decrease of 0.09%, ...

The world’s largest wholesale market in China has become a ghost town

Economy 08/06/22, 15:32

The COVID-19 pandemic is breaking out in Yiwu city, Jinhua, Zhejiang Province. At least 70 positive cases have been recorded. Currently, the pandemic has spread to many provinces and cities. Yiwu, known as China's largest retail trade center and recognized by the World Bank as the largest market in the ...

Thousands of British firms are cutting ties with China

Economy 08/06/22, 03:56

According to the Financial Times, the head of the Confederation of British Industry (CBI) revealed that thousands of British firms are cutting ties with China. Tony Danker, the CBI director-general, said more executives are shifting their businesses from China to other countries. Their moves are partially in response to the further ...

New York Real Estate Magazine: Chinese Debt Threatens Real Estate Projects

Economy 08/05/22, 14:45

Greenland is China's No. 7 property developer. Since its parent company is mired in debt, will Brooklyn's unfinished construction projects rely on the Shanghai government for relief? The debt crisis in China's real estate industry may spread to the United States. The New York real estate magazine "The Real Deal" published ...

Gold keeps rising as China-Taiwan tension continues

Economy 08/05/22, 03:22

According to Reuters, gold prices increased by more than 1% to reach a new one-month high on August 4. As of early August 5, spot gold had surged to its highest level since July 5 and was up 1.6% to 1,793.34 dollars per ounce. The price of American gold futures ...

Hundreds of rich Chinese worth $2.4 billion eyeing move to Singapore

Economy 08/05/22, 03:02

According to Singapore’s Lianhe Zaobao report on August 3, ten thousand Chinese “High Net Worth Individuals” want to flee the country. Some 500 Chinese are looking to get away to Singapore. It is estimated that they could take at least $2.4 billion in wealth with them.According to Forbes, a high-net-worth ...

Homebuyers’ ultimatum for Chinese developers: Resume construction or else

Economy 08/05/22, 03:00

Homebuyers across China are sending an ultimatum to local developers, threatening to stop mortgage payments unless they resume construction of unfinished projects in a certain time. As Bloomberg reported, the buyers of the Dynasty Mansion project have written a nearly 600-word letter. They asked the builder, China Evergrande Group, to complete ...

China’s tech giants face the worst business downturn

Economy 08/05/22, 02:52

Recent Statistics show that China’s economic situation is getting worse. Analysts said Chinese tech giants would report their worst quarterly earnings on record. According to data released on July 31 by the National Bureau of Statistics of China, the manufacturing purchasing managers’ (PMI) index in July was 49, a decrease of ...

China’s debt a ticking time bomb

Opinion 08/04/22, 17:25

The banking liquidity crisis in China seriously escalated, spreading from bank to bank and province to province. Now, not only in rural banks in Henan Province, but customers in many other provinces suddenly could not withdraw money from their accounts. The debt bomb has grown, smoldering for decades, seems to ...

Global businesses are bracing for the fallout from China’s economy

Economy 08/04/22, 02:55

Many companies from the European Union and South Korea gradually withdraw from China. This is because China’s economic growth is slowing down, and the United States and the European Union are reshaping global supply chains against China. According to New York Times, this month, Chinese officials announced that the economy grew ...

China’s economy has bad news: May trigger wave of layoffs

Economy 08/04/22, 02:53

Da Ji Yuan on August 1 reported that China's unstable economy tumbled even more at the start of the second half of this year as factories unexpectedly switched back to the slow lane, top tech firms had the worst quarterly records, and the property market downturn deepened. Official survey data ...

China’s property crisis threatens to drag down steel industry

Economy 08/04/22, 02:51

China's real estate market continues to worsen, which threatens to impact local steel demand as a consequence. According to Bloomberg, this heralds a new period of instability for China's steel industry and Chinese authorities will find it difficult to boost construction-led economic growth. Li Ganpo is the founder and chairman of Hebei ...

UK-China tensions increase, British companies choose to leave China

Economy 08/03/22, 16:12

The race for Britain's new Prime Minister is underway, and the two candidates vying for the top job are both tough on the CCP on foreign policy. British business people with deep commercial ties to China are severing business ties with Beijing and turning to other countries amid concerns that ...

US and Japan strengthen relations to counter China and end semiconductor crisis

News 08/03/22, 15:56

The shortage of semiconductors and the dependence on China for their manufacture has caused significant disruptions in the world's production system in recent years. As a result, the most significant industrial sectors, such as the technology and automotive industries, were forced to suspend or considerably reduce their production. As the global ...

China’s debt bomb about to explode: 5 ominous signs

Social problem 08/03/22, 12:37

Debt to GDP ratio of at least 275%, immense hidden debt by corrupted local governments, property developers default one by one… China's debt bomb is ticking much louder. Can the communist regime postpone the day of debt reckoning? Overview of China's debt mountain As reported by Bloomberg, China's debt will probably break the ...

China’s banks might run into $355 billion loss from real estate crisis: Report

Economy 08/03/22, 03:18

According to Bloomberg, China's banks might end up losing mortgages of 355 billion dollars as confidence in the country's real estate market plunges. With slowing economic growth and prolonged lockdowns from Covid control measures, there is no sign of recovery in the long-troubled property sector. The ongoing crisis deepened when hundreds of ...