Hong Kong to restore reputation as a financial centre, Lee promotes the “China advantage”
In a talk to some of the top financial executives around the globe on Wednesday, Hong Kong’s leader John Lee emphasised the city’s relationship with China in an effort to repair the COVID-damaged territory’s reputation as a significant financial centre. The city will keep striving to abolish COVID restrictions, Chief Executive Lee stated at the […]
As analysts foresee a “price war,” Tesla reduces prices in China by up to 9%
In China, the world’s largest auto market, Tesla (TSLA.O) has reduced the starting rates for its Model 3 and its Model Y automobiles by as much as 9%, bucking a trend of hikes in the sector.The price reductions, which were announced in postings on the electric vehicle (EV) behemoth’s China webpage on Monday, are the […]
U.S. struggles to avert supply chain disruption caused by China’s export restrictions on chips
Anonymous but well-informed sources revealed the U.S. is rushing to address unforeseen implications of its new export restrictions on China’s chip sector that could unintentionally affect the semiconductor supply chain. The South Korean memory tech giant SK Hynix Inc (000660.KS) claimed it had permission from the United States to acquire items for its chip manufacturing […]
U.S.’s assault on China’s chip industry will not affect Samsung or SK Hynix
Insiders revealed the Biden administration intends to exempt SK Hynix (005930.KS) & Samsung (005930.KS) from the impact of new Chinese memory chipmaker limitations intended to impede Beijing’s technology ambitions and hinder its military development.According to the sources, requests from American suppliers to send equipment to Chinese companies like Yangtze Memory Technologies Co Ltd (YMTC) as […]
Chinese homebuyers reside in their incomplete, “rotting,” Properties
Ms. Xu has lived in a room in a high-rise condominium in the southern Chinese metropolis of Guilin for the past six months. She purchased the apartment three years ago after being drawn to it by advertisements praising the riverfront views as well as the city’s pure air.Her living circumstances, however, fall far short of […]
China’s mortgage embargo discreetly regroups as building is halted
Despite assurances from officials, a lack of development at more sites threatens to worsen the boycott two months after many Chinese purchasers stopped paying mortgages to oppose the halted building of their residences.The mortgage protest, which was promoted on social media in late June and turned into a rare instance of civil disobedience in China, […]
China bags energy windfall as Russian supplies fail to attract the West
This year, China has been purchasing fuel supplies from Russia at a steadily decreasing cost, benefiting from a decline in European demand at a time when Beijing most needs it as the Ukraine conflict forces Moscow to look for new markets.Both nations benefit from the expanding partnership, which will further develop when Russian President Vladimir […]
Biden to strike China with tougher regulations on U.S. tools & chip imports
The Biden administration intends to broaden curbs on American shipments of semiconductors used in chip manufacturing and artificial intelligence to China starting next month.Officials, who spoke on the condition of anonymity, revealed that the Commerce Department plans to publish proposed rules based on restrictions conveyed in letters to three American companies earlier this year: Lam […]
U.S. regulators will review the audits of Alibaba and other Chinese companies
Three sources familiar with the situation said that U.S. officials had chosen e-commerce behemoth Alibaba Group Holding Ltd (9988.HK) as well as other U.S.-listed Chinese corporations for audit inspections beginning next month.The action comes after Beijing and Washington struck a historic audit agreement on Friday that allows American regulators to review accounting firms in Hong […]
Attorneys caution that the U.S.-China audit agreement is not finalised yet
After Beijing and Washington reached a long-awaited audit agreement, investors in U.S.-surveyed Chinese companies experienced a great deal of comfort; however, legal experts and China watchers caution the two sides could still disagree over how the agreement is understood and put into practise.Since more than ten years ago, U.S. officials have wanted access to the […]