From Beijing to Wuhan, China orders mass testing and restrictions as Covid cases rise

China is facing pockets of resurgence in major cities from Beijing to Wuhan, and authorities have imposed mass testing and widespread travel restrictions in some areas. Daily Covid-19 cases are rising again as the delta variant spreads across the country. China’s National Health Commission said it confirmed 96 Covid cases on Wednesday — the third… Continue reading From Beijing to Wuhan, China orders mass testing and restrictions as Covid cases rise

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Made in China’ products are running into new logistics problems

shipping problems. Access to cheap manufacturing at home gave Chinese businesses an advantage overseas. But it’s turning into a disadvantage now, as the pandemic and trade tensions disrupt international supply channels. Many goods can’t be shipped out, said Fang Xueyu, vice president of international marketing and general manager for Asia-Pacific at Chinese home appliance company… Continue reading Made in China’ products are running into new logistics problems

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Ratings agencies downgrade China Evergrande as concerns over junk bonds rise

Major credit ratings agencies this week downgraded China’s most indebted property developer Evergrande, as concerns over Asia’s junk bond sector rise. Fitch Ratings on Wednesday downgraded China Evergrande one notch from B to CCC, saying that the negative developments surrounding Evergrande may weaken investor confidence, further pressuring its liquidity. A rating of CCC means there’s… Continue reading Ratings agencies downgrade China Evergrande as concerns over junk bonds rise

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China will still allow IPOs in the United States, securities regulator tells brokerages

China will continue to allow Chinese companies to go public in the U.S. as long as they meet listing requirements, China’s securities regulator told brokerages late Wednesday, according to a source familiar with the matter. A series of regulatory actions in the last few weeks has heightened investor concerns that Beijing is trying to block… Continue reading China will still allow IPOs in the United States, securities regulator tells brokerages

U.S.-China rivalry may solidify ‘like a hard concrete’ after latest meeting, says analyst

The rivalry between the U.S. and China is likely to persist for some time after both countries set demands for each other that are “unreachable,” a political analyst told CNBC on Tuesday. Comments by Scott Kennedy of Washington D.C.-based think tank Center for Strategic and International Studies came after officials from the two countries concluded… Continue reading U.S.-China rivalry may solidify ‘like a hard concrete’ after latest meeting, says analyst

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Global shipping industry disrupted again, this time by floods in Europe and China

Flooding in China and Europe another ‘body blow’ for supply chains, shipping firm CEO saysThe floods in China and Europe are yet “another body blow” for global supply chains, the CEO of a shipping firm, on Monday. “Rarely does a week go past without something new,” says Tim Huxley, CEO of Mandarin Shipping. Shipping has… Continue reading Global shipping industry disrupted again, this time by floods in Europe and China

Chinese prosecutor, ex-NYPD cop charged with stalking, harassing U.S. residents on behalf of China

A prosecutor from China, a former New York City Police Department detective sergeant and seven other people were indicted Thursday on charges related to a brazen campaign to stalk and harass U.S. residents in an effort to get one of them to return to China. The new indictment alleges that the nine defendants acted at… Continue reading Chinese prosecutor, ex-NYPD cop charged with stalking, harassing U.S. residents on behalf of China

China Has Rejected A WHO Plan For Further Investigation Into The Origins Of COVID-19

BEIJING — China cannot accept the World Health Organization’s plan for the second phase of a study into the origins of COVID-19, a senior Chinese health official said Thursday. Zeng Yixin, the vice minister of the National Health Commission, said he was “rather taken aback” that the plan includes further investigation of the theory that… Continue reading China Has Rejected A WHO Plan For Further Investigation Into The Origins Of COVID-19

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As China’s debt risks grow, here are 3 warning signs to watch

BEIJING — Weak spots are emerging in China’s growing debt pile. National debt levels have climbed to nearly four times of GDP, while an increasing number of corporate bonds have defaulted in the last 18 months. Although the latest defaults represent a fraction of China’s $13 trillion onshore bond market, some high-profile cases have rattled… Continue reading As China’s debt risks grow, here are 3 warning signs to watch

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Foxconn says critical iPhone factory hasn’t been hit by massive floods in China

GUANGZHOU, China — Taiwan electronics manufacturer Foxconn said Wednesday that its factory in Zhengzhou — known as the world’s largest iPhone assembly plant — has not been impacted by major flooding in the city. Zhengzhou in China’s central Henan province has been hit with torrential rain. Authorities said it rained more in an hour on… Continue reading Foxconn says critical iPhone factory hasn’t been hit by massive floods in China