The United States has notified the World Trade Organisation (WTO) of seven Chinese companies that it says should have been flagged as state trading enterprises under WTO rules, according to a WTO filing dated November 29 and published on Wednesday. The United States has long complained that Beijing is keeping the world in the dark […]
Category: Business Practice
China’s banking regulator handed out its biggest financial penalty ever to China Guangfa Bank for fabricating guarantee documents on 1 billion yuan worth of bonds that went into default. The China Banking Regulatory Commission said Friday it confiscated illegal income and imposed fines on Guangfa totaling 722 million yuan ($109 million) for issuing fake guarantees, […]
Four former engineers at Applied Materials were charged by the US with trying to steal chip designs from the semiconductor equipment giant to sell them to a Chinese start-up, which may fuel fears the world’s second-largest economy is resorting to illegal tactics to break its dependence on chip imports, the South China Morning Post reports. […]
Alibaba has signed a deal with Ford Motor to explore cooperation in areas such as cloud computing, connectivity and retail which could involve the sale of Ford cars on Alibaba’s online retail platform Tmall. Alibaba in a statement on Thursday said digital marketing-focused Alimama and operating system firm AliOS would be among subsidiaries working with […]
Lossmaking “zombie” companies comprise a smaller share of China’s overall corporate debt than widely assumed, according to new International Monetary Fund research highlighting the broad challenge facing policymakers as they seek to control rising debt. The IMF warned in August of China’s “dangerous” pace of overall debt growth, with corporate debt the biggest contributor. President Xi Jinping […]