Court forecloses Evergrande’s electronic vehicle unit assets for $2

Economy 06/22/22, 09:21

Three months after receiving approval to start selling vehicles, Evergrande's electric vehicle unit now has its assets seized to compensate lenders for a surprisingly small sum of money.  On June 20, auto column Daoge Talks About Cars reported that a Chinese court issued three foreclosure orders from Evergrande New Energy Vehicle ...

China’s import of Russian oil soars 55%, Russia again top oil supplier

Energy 06/21/22, 08:16

China's oil import from Russia jumped 55% from a year earlier in May, helping Russia pass Saudi Arabia and regain China's top oil supplier after 19 months.  Data from the Chinese General Administration of Customs show that China imported nearly 8.5 million tonnes from Russia in May.  Reuters reported that the discount ...

China’s Belt and Road Initiative will eventually fail: Expert

Opinion 06/21/22, 08:10

Commenting on the fate of China's Belt and Road Initiative, current affairs commentator Wang He told Chinese media Da Ji Yuan on June 17 that the Belt and Road Initiative project would eventually fail. Wang gave three reasons to support his statement. First, China's Belt and Road Initiative causes many problems ...

Former Chinese Finance Minister says improper lockdown damages economy

Economy 06/21/22, 08:04

The epidemic outbreak in Shanghai, Beijing, and other places since March had caused a significant impact on the mainland economy. But China's current pandemic control policy is a “tragedy of the commons” phenomenon. The current method isn’t practical in balancing between controlling the pandemic and maintaining economic growth. That are remarks ...

Zambia becomes China’s next big debtor after joining Belt and Road

Economy 06/21/22, 07:53

Zambia is being considered the next victim of China's Belt and Road. According to the South China Morning Post, this country has suffered a financial crisis, with foreign debts as high as 17.3 billion US dollars, and China is the first creditor.  Zambia has approved many investment projects from China's Belt ...

Data shows China’s housing market remains distressed

Economy 06/20/22, 22:49

The real estate market in China is still mired in a quagmire as the economy is in jeopardy. A spokesman for China’s National Bureau of Statistics said there had been some positive changes in the real estate market in recent surveys. However, the latest data shows that the property market is ...

Delisting crisis brings rich man of Shanghai under radar

Economy 06/20/22, 11:27

*ST Haiyi, formerly Lanhai Medical, faces delisting risk after it has been suspended from trading on the Shanghai Stock Exchange since early May. The company and its chairman Mi Chunlei are now under scrutiny from the market. According to Sina Finance, *ST Haiyi is an A-share listed company. On May 5, ...