China Business & Economics
Escalating US-China trade war - Business News
Amid trade fight, Trump says China will do the 'right thing'
Trump proposes US$100 billion of additional tariffs on Chinese goods
China pledges to open market in bid to avert US trade war
Any trade war with US will bring disaster to global economy: China warns Trump
India has solar power ambitions. Will tariffs on Chinese panels kill them?
What’s inside made-in-China electronics should worry federal customers, study says
2018-04-19 09:46:36 The U.S. government is dangerously vulnerable to Chinese espionage or cyberattack because of its dependence on electronics and software made in China, a risk that threatens to grow as Beijing seeks global technological dominance, according to a study for a congressionally chartered advisory commission. Information technology products made by enterprises owned or influenced by China could be modified to work poorly, conduct espionage or otherwise interfere with government operations, said the report for the U   Read More ...
China says ready to deal with any fallout from US trade row
2018-04-19 06:45:31 BEIJING (REUTERS) - China is well prepared to handle any negative effects from its trade dispute with the United States, the Commerce Ministry said on Thursday (April 19), adding that China's tariff hikes on US imports will not have a big impact overall on its domestic industries. The United States would be making a miscalculation if it is determined to contain China's rise, ministry spokesman Gao Feng said at a regular media briefing in Beijing   Read More ...
Saudi chemicals company undeterred by threat of U.S.-China trade war, CEO says
2018-04-12 20:04:15 The threat of trade war between the United States and China – potentially the world's fastest growing buyer of liquefied U.S. shale gas and petrochemical products – hasn't deterred Saudi Arabia's chemical company from investing in the growing American energy market, SABIC CEO Yousef Al-Benyan said in a recent interview. Recently announced U.S. and Chinese tariffs have raised concerns for the Middle East's largest petrochemical producer, Benyan acknowledged, and as geopolitical tensions over trade rise, the Saudi Basic Industries Corp   Read More ...
China-US trade talks hit dead end but 'there's still room to move'
2018-04-12 15:18:59 China and the United States have hit a dead end in trade talks, with dialogue between the world's two biggest economies cut since Washington ramped up threats. Former Chinese officials and observers said the suspension of talks – revealed by the Chinese Ministry of Commerce late on Friday – reflected China's frustration with its "difficult" negotiating position and its desire for Washington to scale down its expectations of compromise from Beijing   Read More ...
Stock Market Climbs on Facebook Rally and China's Proposal to Reduce U.S. Auto Tariffs
2018-04-12 13:06:23 (NEW YORK) — Stocks jumped Tuesday after Chinese President Xi Jinping said Beijing would reduce tariffs on imported cars and improve intellectual property protection, steps that could ease trade tensions. Facebook climbed as CEO Mark Zuckerberg testified before the Senate about the company’s privacy scandal. Xi’s proposals could help the U.S. and China resolve their differences and avert a trade dispute that slows down global commerce   Read More ...
China’s Commerce Ministry Says Market Opening Is Independent of Trade Dispute
2018-04-12 13:01:13 Beijing is opening the economy “at its own pace, in its own direction, which is already fixed,” the Commerce Ministry said after President Xi Jinping offered to increase foreign access to China’s markets.   Read More ...
Tech sector frets amid US-China trade war
2018-04-09 09:47:42 Washington. As US-China trade tensions ratchet up, the technology sector is fretting over the potential for collateral damage to one of America’s most important export industries. The tech industry is not directly affected by the new tariffs unveiled by the Trump administration which aim to target Beijing for unfair trade practices failure to protect intellectual property. But some industry leaders fear tech will be dragged into the dispute, with the potential to impact the estimated $3 trillion industry in which the US and China are key players   Read More ...
Trump, China escalate trade dispute as markets tumble - | WBTV Charlotte
2018-04-09 05:14:12 WASHINGTON (AP) - Unwilling to yield, President Donald Trump and China's government escalated their trade clash Friday, with Beijing vowing to "counterattack with great strength" if Trump follows through on threats to impose tariffs on an additional $100 billion in Chinese goods. Trump made his out-of-the-blue move when China threatened to retaliate for the first round of tariffs planned by the United States   Read More ...
Escalating US-China trade war - Business News
2018-04-09 05:11:39 NEW YORK: President Trump has said that the United States would consider slapping tariffs on an additional US$100bil in Chinese goods, escalating a potentially damaging trade dispute with Beijing that began on Jan 22. If implemented, the further tariffs would triple the US$50bil placed on goods imported from China that Trump announced last Tuesday. “In light of China’s unfair retaliation, I have instructed the United States Trade Representative to consider whether US$100bil of additional tariffs would be appropriate,” Trump said in a statement released by the White House on Thursday   Read More ...
Amid trade fight, Trump says China will do the 'right thing'
2018-04-09 05:02:56 WASHINGTON (AP) - Amid global fears of an escalating trade dispute between the U.S. and China, President Donald Trump suggested that Beijing will ease trade barriers "because it is the right thing to do" and that the economic superpowers can settle the conflict that has rattled financial markets, consumers and businesses. But fostering more uncertainty, the president's top economic advisers offered mixed messages Sunday as to the best approach with China, which has threatened to retaliate if Washington follows through with its proposed tariffs, even as Trump emphasized his bond with Chinese President Xi Jinping   Read More ...
How HNA’s Meteoric Rise Switched to Dramatic Downfall: QuickTake
2018-04-06 04:47:50 China’s HNA Group Co. shot to international prominence by spending more than $40 billion on acquisitions across six continents from 2015. The once little-known airline operator became a major shareholder of Hilton Worldwide Holdings Inc. and Deutsche Bank AG as well as paying top dollar for high-end properties from Manhattan to Hong Kong. But the breathtaking buying spree prompted questions by regulators about its opaque ownership structure   Read More ...
Trump proposes US$100 billion of additional tariffs on Chinese goods
2018-04-06 02:45:26 He added that the US Trade Representative had determined that China “has repeatedly engaged in practices to unfairly obtain America’s intellectual property". Mr Trump’s after-market-hours comments spurred a sharp sell-off in US equity futures markets. The S&P 500 e-mini futures traded down 1.3 per cent, while similar moves were reflected in Dow and Nasdaq futures . In currency markets, the US dollar fell against the Japanese yen, down 0   Read More ...
Trump seeks an additional $100 billion in tariffs against China in escalation of trade confrontation
2018-04-06 01:47:16 President Trump ordered his chief trade negotiator to consider imposing tariffs on an additional $100 billion of Chinese products Thursday, in a dramatic escalation of his trade war with China. The president said he was acting in response to China’s announcement of plans to introduce new import taxes on $50 billion worth of American goods. Beijing’s action in turn followed Trump’s April 3 move to target a similar amount of Chinese imports in a rebuke of China’s trade practices   Read More ...
Stock Markets Slump for Second Day on Fears of Trade War With China
2018-04-05 21:08:46 (BEIJING) — Global stock markets fell for a second day Tuesday amid jitters about U.S.-Chinese trade tensions and mounting public scrutiny of technology companies. Market benchmarks in London, Frankfurt, Shanghai and Tokyo all declined. The dollar sank against the euro and yen but rebounded later against the Japanese currency. In early trading, Germany’s DAX fell 1% to 11,973.02 and London’s FTSE 100 declined 0   Read More ...
China's tit-for-tat tariffs 'hardly life-threatening,' says Commerce Secretary Ross
2018-04-05 21:02:46 China quickly hit back on Wednesday at Trump administration plans to slap tariffs on $50 billion in Chinese goods, retaliating with a list of similar duties on key U.S. imports including soybeans, planes, cars, whiskey and chemicals. The move shook markets worldwide and sent Dow Jones futures plummeting by almost 600 points on Wednesday morning. The White House was quick to downplay the reaction, however, with Commerce Secretary Wilbur Ross saying the retaliatory tariffs were "hardly a life-threatening activity," in an interview with CNBC   Read More ...
China just gut-punched Trump on trade. Is it time to get worried?
2018-04-05 21:00:10 The United States and China are not in an all-out trade war, but they're getting closer to it. That's why soybean farmers are panicking and the stock market tumbled Wednesday morning (before rebounding sharply). On a grand scale, the latest development is unlikely to send the U.S. economy into a recession. Growth is strong, and China has only threatened $50 billion tariffs on U   Read More ...
Trump pushes back on fears of a trade war with China
2018-04-05 20:58:48 President Trump showed no sign Wednesday of backing down from an escalating trade confrontation with China, even as financial markets wobbled and American farmers and manufacturers warned that he was inviting a damaging commercial clash. Hours after the Chinese government announced plans to match the president’s tariffs on $50 billion in imported Chinese goods with import levies on US soybeans, cars and airplanes, Trump fired off a bellicose   Read More ...
China raises tariffs on US pork, fruit in trade dispute
2018-04-02 14:46:28 BEIJING (AP) -- China raised import duties on a $3 billion list of U.S. pork, fruit and other products Monday in an escalating tariff dispute with President Donald Trump that companies worry might depress global commerce. The Finance Ministry said it was responding to a U.S. tariff hike on steel and aluminum that took effect March 23. But a bigger clash looms over Trump's approval of possible higher duties on nearly $50 billion of Chinese goods in a separate argument over technology policy   Read More ...
Huawei net profit rises 28 per cent
2018-04-02 13:16:41 Shenzhen. China’s technology firm Huawei said Friday that its net profit last year had grown by 28 per cent to 47.5 billion yuan ($7.55 billion). Its sales increased by 16 per cent from 2016, reaching over 603.6 billion yuan. Headquartered in the southern Chinese city of Shenzhen, privately-owned Huawei is a world-leading telecom solution provider and also the world’s third largest smartphone brand, behind Apple and Samsung   Read More ...
Trade war escalates as China says it will impose tariffs on 128 U.S. exports, including pork and fruit
2018-04-02 13:03:08 The Chinese government plans to immediately impose tariffs on 128 U.S. products, including pork and certain fruits, a direct response to President Trump’s recent moves to pursue numerous trade restrictions against Beijing. If U.S. goods become more expensive in China, Chinese buyers could opt to purchase products from Europe, South America or elsewhere, though White House officials have routinely discounted the likelihood of this   Read More ...
Isimba Dam: Leaders demand Shs900m from Chinese firm
2018-04-02 13:01:42 KAYUNGA- Authorities in Kayunga District have dragged the Isimba Dam contractor, China International Water & Electric Corporation (CWE), to the Mukono High Court, demanding compensation of Shs900m in taxes. The authorities claim the money is part of the raw materials that the contractor is using to build the hydro power project. In their suit, the petitioners claim CWE, which is constructing the 183MW power dam on River Nile at Nampanyi Village in Busaana Sub-county, refused to heed to their demands to pay taxes for the river sand, murrum and stones   Read More ...
China raises tariffs on US pork, fruit in trade dispute
2018-04-02 12:54:34 China raised import duties on a $3 billion list of U.S. pork, fruit and other products Monday in an escalating tariff dispute with President Donald Trump that companies worry might depress global commerce. The Finance Ministry said it was responding to a U.S. tariff hike on steel and aluminum that took effect March 23. But a bigger clash looms over Trump's approval of possible higher duties on nearly $50 billion of Chinese goods in a separate argument over technology policy   Read More ...
China pledges to open market in bid to avert US trade war
2018-03-27 03:45:15 BEIJING • Chinese Premier Li Keqiang said China and the US should maintain negotiations and he reiterated pledges to ease access for American businesses, as Beijing scrambles to avert a trade war. Mr Li made the comments yesterday even as China called on World Trade Organisation (WTO) members to unite to prevent the US from "wrecking" the WTO. He told a conference that included global chief executives that China would treat foreign and domestic firms equally, would not force foreign firms to transfer technology and would strengthen intellectual property rights, repeating promises that have failed to placate Washington   Read More ...
In Escalating Trade War, Chinese Consumers’ Time Is Now: Gadfly
2018-03-27 01:46:35 Trade war? Then that should make Chinese consumer stocks a good buy. To be specific -- domestically focused brands. Many are resilient because Chinese consumers remain their most important market. Some appliance makers are even more popular at home after buying foreign firms. Take baijiu distillers Kweichow Moutai Co., a company more valuable than McDonald’s Corp., and Wuliangye Yibin Co. Their sales are bound to hold up even as Beijing faces off against Washington   Read More ...
US seeks China trade moves on autos, financials, chips: Source
2018-03-27 01:45:13 WASHINGTON/BEIJING (REUTERS) - Top Trump administration officials are asking China to cut tariffs on imported cars, allow foreign majority ownership of financial services firms and buy more US-made semiconductors in negotiations to avoid plans to slap tariffs on a host of Chinese goods and a potential trade war. A person familiar with the discussions said these were among the asks from Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer as they pursue talks with Beijing   Read More ...
China renews pledges to open economy, protect IP rights
2018-03-27 00:01:55 China pledged yesterday to press ahead with market opening and reforms while reiterating that it will treat domestic and foreign firms equally and protect intellectual property rights. The pledge on reform and equal treatment came from Vice Premier Han Zheng, at a time where there are increasing prospects of a trade war with the US. Mr Han, making his first speech since being named executive vice premier earlier this month, told the China Development Forum in Beijing that China needs to "open even wider to the outside world," and would do so via its Belt and Road Initiative   Read More ...
U.S., China quietly look for trade solutions after days of threats
2018-03-26 21:03:50 close China and the U.S. have quietly started negotiating to improve U.S. access to Chinese markets, after a week filled with harsh words from both sides over Washington’s threat to use tariffs to address trade imbalances people with knowledge of the matter said. The talks, which cover wide areas including financial services and manufacturing, are being led by Liu He, China’s economic czar in Beijing, and U   Read More ...
China’s Oil Futures Are Finally Here: What You Need to Know
2018-03-26 20:57:08 It’s taken a quarter of a century, but China’s finally getting its own oil futures. At 9 a.m. local time on Monday, crude contracts will begin trading on the Shanghai International Energy Exchange. The world’s biggest oil buyer is offering yuan-denominated futures that foreigners can buy and sell -- a first in Chinese commodities. Among the most intriguing questions is whether the traditional benchmarks of Brent crude in London and West Texas Intermediate in New York will face a serious challenger   Read More ...
China’s Oil Futures Are Here. What You Need to Know: QuickTake
2018-03-26 20:55:50 It’s taken a quarter of a century, but China finally has its own oil futures. At 9 a.m. local time on Monday, crude contracts began trading on the Shanghai International Energy Exchange. Futures for September settlement opened at 440 yuan a barrel, up from a reference price of 416 yuan. The world’s biggest oil buyer is offering yuan-denominated futures that foreigners can buy and sell -- a first in Chinese commodities   Read More ...
China threatens to raise tariffs on about $3 billion of U.S. imports
2018-03-23 13:47:25 President Trump embarked Thursday on the sharpest trade confrontation with China in nearly a quarter-century, moving toward imposing tariffs on $60 billion in Chinese goods and limiting China’s freedom to invest in the U.S. technology industry. The Chinese government fired back hours later, threatening to hit $3 billion in U.S. goods with tariffs. Trump’s announcement was “typical unilateralism and protectionism,” China’s Commerce Ministry said in a statement, and it had set a “very bad precedent   Read More ...
China slams Trump’s ‘reckless’ and ‘arrogant’ tariffs as global stocks slump
2018-03-23 13:47:13 BEIJING — China’s government slammed President Trump on Friday for a “reckless” threat to impose tens of billions of dollars in import tariffs, as global stock markets slid on fears that this could be the start of a wider trade war. Trump threatened to slap tariffs on up to $60 billion of Chinese imports Thursday. China announced a more modest package of potential tariffs of its own and vowed to “fight to the end” to defend its interests if a trade war breaks out   Read More ...
U.S. Businesses Brace for a Backlash as Trump Turns Up the Trade Pressure on Beijing
2018-03-23 12:19:05 (WASHINGTON) — Farmers, electronics retailers and other U.S. businesses are bracing for a backlash as President Donald Trump targets China for stealing American technology or pressuring U.S. companies to hand it over. The administration is expected Thursday to slap trade sanctions on China, perhaps including restrictions on Chinese investment and tariffs on as much as $60 billion worth of Chinese products   Read More ...
Stocks Plunge on Trade War Fears After China Sanctions
2018-03-23 12:18:52 Stocks plunged Thursday after the Trump administration slapped sanctions on goods and investment from China. The Dow Jones industrial average dropped more than 700 points as investors feared that trade tensions between the world’s largest economies would escalate. The planned sanctions include tariffs on $48 billion worth of Chinese imports as well as restrictions on Chinese investments. Trump said he’s taking those steps in response to theft of American technology, and the Chinese government said it will defend itself   Read More ...
China Threatens Pork and Aluminum Duties in Response to Trump's Trade Tariffs
2018-03-23 12:18:22 (BEIJING) — China announced a list of U.S. goods including pork, apples and steel pipe on Friday on which it might raise tariffs in an escalating trade dispute with President Donald Trump. The Commerce Ministry called on Washington to negotiate a settlement to the conflict over higher U.S. import duties on steel and aluminum but set no deadline.Beijing’s move appeared to be a calculated step aimed at increasing domestic American pressure on Trump by making clear which exporters, especially farming areas that supported the president in the 2016 election, might be hurt   Read More ...
China’s Saving Its Own Bacon in Trump Trade War: Gadfly
2018-03-23 12:03:57 Has Beijing brought a knife to a trade war gunfight? That’s certainly the way it looks at first glance. Plans to slap levies on $3 billion of U.S. goods affect about 2 percent of China’s imports from the country, compared to the roughly 10 percent of trade in the opposite direction that will be penalized under the U.S.’s plans to impose tariffs on $50 billion of goods from China   Read More ...
Korea, China to expand FTA to service and investment
2018-03-20 05:16:34 With Korea and China set to start negotiations to expand the scope of their bilateral trade agreement to services and investment this week, experts say it could be a meaningful opening of the door to China's $1 trillion services market. The Ministry of Trade, Industry and Energy announced that negotiations to expand the Korea-China free trade agreement (FTA) will be held in Seoul, March 22 and 23   Read More ...
Treasury official backtracks after saying he’d ended economic talks with China
2018-03-20 03:58:14 BUENOS AIRES — A top Treasury Department official on Sunday suggested a key strategic relationship between the Trump administration and the Chinese government had been severed, only to reverse himself a few hours later. The episode, which played out on the eve of tense trade-related discussions between international finance ministers, shows just how treacherous the U.S. government’s standing has become, as a growing number of countries have accused the White House of protectionist policies that could lead to isolationism   Read More ...
China's commerce ministry conditionally approves Bayer's acquisition of Monsanto
2018-03-13 10:42:09 BEIJING (Reuters) - China’s commerce ministry said on Tuesday it has conditionally approved the German drug and crop chemicals maker Bayer’s () acquisition of the world No. 1 seed company Monsanto(). The ministry also ordered Bayer to spin off some businesses globally, including vegetable seeds, corn, soybean, cotton, and herbicide, according to a statement posted on its website. Bayer has already pledged to sell certain seed and herbicide assets for 5   Read More ...
U.S. trade tariffs put world at risk of growing protectionism
2018-03-13 10:30:21 The U.S. decision to slap steep tariffs on steel and aluminum has ramped up tensions with its trading partners, leading to a growing wave of protectionism around the globe. U.S. President Donald Trump last Thursday formally signed proclamations to impose a 25-percent tariff on imported steel and a 10-percent tariff on aluminum, which is scheduled to come into force in 15 days   Read More ...
Global auto battery market to hit $95.57 billion by 2025: Study
2018-03-13 10:02:14 The global automotive battery market size is expected to reach 95.57 billion U.S. dollars by 2025, registering a compound annual growth rate (CAGR) of 7.9 percent during the forecast period, Grand View Research, Inc. (GVR), a leading U.S. market research firm reported on Monday. Large-scale availability of batteries in various sizes and specifications alongside high electric-current-levels is expected to drive the market over the forecast period, said GVR, a San Francisco-based market research and consulting firm   Read More ...