Foreign shipbuilding contracts help China

Economy 04/15/22, 01:01

According to Chinese-language media Da Ji Yuan on April 13, billions of dollars in foreign shipbuilding contracts could be used to fund Beijing's new warships. The Center for Strategic and International Studies(CSIS) stated that four shipyards operated by China State Shipbuilding Corporation (CSSC) subsidiaries — Dalian, Jiangnan, Hudong-Zhonghua, and Huangpu Wenchong ...

Freezer sales surge in Shanghai amid COVID lockdown

News 04/15/22, 01:00

Demand for fridges and freezers in Shanghai has constantly been increasing since the Chinese financial hub started the lockdown to prevent the COVID-19 epidemic last month. Sohu cited GFK Zhongyikang data showing that in the week from March 21-27, sales increased 48.4% year-on-year; from March 28 to April 3, sales grew ...

Taiwan speeds up defense systems of islets close to mainland China

China 04/15/22, 00:55

Taiwan will strengthen the defense ability of its two outlying islands close to mainland China ahead of schedule to dissuade a potential Chinese invasion. Taiwan has purchased six sets of the short-range weapons systems to be in part deployed on Lienchiang County’s Dongyin Island and Kinmen County’s Wuchiu Island Dongyin is less ...

China and Russia threaten U.S. space security capabilities, DIA report

Tech 04/15/22, 00:52

A newly released report from the Defense Intelligence Agency (DIA) showed that China and Russia have been developing anti-satellite weapons that could pose a risk to the space assets of the U.S. and its allies. The report also pointed out that Chinese and Russian space expansion has grown significantly in ...

Keep China away, India sends extra aid to Sri Lanka

Economy 04/15/22, 00:47

Sri Lanka stated on April 12 that it would suspend its $51 billion in foreign debt, the country's worst economic crisis since its independence in 1948. The government has asked close countries like China and India for financial support. As India strives to reclaim ground lost to China in recent years, ...

China’s imports fell, export growth slowed in March

Economy 04/15/22, 00:26

Data released on Wednesday, April 13, by China's General Administration of Customs has reflected the impact of China’s zero-Covid policy on the country’s imports and exports. According to Bloomberg, China’s imports in March, the time COVID-19 reemerged in the country, decreased by 0.1% to 228.7 billion dollars, the first drop ever ...

China’s anti-corruption body participates in probe of Jack Ma-led Ant Group

Insights 04/14/22, 23:57

Bloomberg News on Wednesday, April 13, reported that Beijing’s Central Commission for Discipline Inspection (CCDI) has been taking part in the probe of Jack Ma’s fintech empire Ant Group and its connection with state-owned firms. Citing people familiar with the matter, the report said the anti-corruption watchdog was inspecting Ant’s influence ...

Chinese J-11 fighter jet intrudes Taiwan’s ADIZ

China 04/14/22, 23:45

A Chinese Shenyang J-11 fighter aircraft flew into the southwest corner of Taiwan's air defense identification zone (ADIZ) on Wednesday, April 13. In response, the Ministry of National Defense of the Republic of China (MND) said that the dispatched Civil Air Patrol (CAP) aircraft issued radio warnings, and deployed air defense ...

China’s crude oil imports continue to fall in March

Economy 04/14/22, 22:26

In March, China's crude oil imports dropped for a third consecutive month as major state-run refineries were under maintenance and independent refiners limited purchases due to their shrinking margin.  Reuters, citing data from the General Administration of Customs, reported on Wednesday, April 13, that China imported 42.71 million tons of crude ...

Ukraine war: Chinese oil giant prepares to exit West over sanction fears

China 04/14/22, 22:16

Reuters reported from industry sources on April 13 that China's top oil producer, China National Offshore Oil Corporation (CNOOC), is preparing to withdraw its operations in Britain, the U.S., and Canada due to its concerns over Western sanctions. A senior industry source told the outlet that CNOOC wants to sell "marginal ...

Shanghai faces medical supply crisis

News 04/13/22, 23:14

Shanghai has adopted severe lockdown measures to deal with the Omicron. A lockdown has kept roughly 26 million residents inside their homes. According to Chinese Caixin, the demand for medicines from patients has increased. Shanghai has been closed and controlled for days, and the number of sick people continued to spike ...