China’s biggest 97 industrial conglomerates, known as the country’s national champions, have been asked to play their part as “stabilizers” in the economy, in a bid to offset the trade war with the United States by boosting their profits by 9% this year, said the South China Morning Post. The State-owned Asset Supervision and Administration Commission […]
Category: Politics & Society
China’s top economic planning agency, the National Development and Reform Commission (NDRC), has once again declined to rule out the use of rare earths against the United States in the ongoing trade war as relations between the two sides continue to deteriorate, reported the South China Morning Post. China, which makes up 90% of the global […]
Huawei Technologies founder Ren Zhengfei expects US sanctions to cut the company’s revenue by about $30 billion over the next two years and affect its leading status ahead of rivals such as Ericsson AB and Nokia Oyj, reported Caixin. China’s largest telecom company’s sales are likely to remain at about $100 billion in 2019 and 2020, […]
Hong Kong leader Carrie Lam indefinitely delayed a proposed law allowing people to be extradited to mainland China for trial after large-scale protests in the Asian financial hub, reported Reuters. In one of the most significant climbdowns by the government since Hong Kong was returned to Chinese rule in 1997, Lam said the city’s legislature […]
The US Trade Representative’s Office on Monday will kick off seven days of testimony from US retailers, manufacturers and other businesses about President Donald Trump’s plan to hit another $300 billion worth of Chinese goods with tariffs, reported Reuters. The hearings beginning Monday will end on June 25, the USTR said in a statement on […]