Chinese anti-corruption agency investigates former China Unicom chairman

Insights 02/20/22, 15:43

The Chinese Regime's Central Commission for Discipline Inspection or CCDI announced on Friday, Feb. 18, that Li Guohua, the former chief executive officer of telecom giant China Unicom, is under investigation for alleged "serious violations of discipline and law." The announcement did not mention any further detail of Li's case. Li ...

Russia, China dilute G20 text on geopolitical tensions

Insights 02/20/22, 06:21

Russia and China have requested that the communiqué drafted at the G20 finance ministers' meeting be tinkered with, downplaying claims that current geopolitical tensions related to the Ukraine crisis overshadow the global economic picture. G20 finance ministers and central bank presidents hold mixed physical and video talks in Jakarta, Indonesia. The ...

Starbucks increases prices in China amid police incident backlash

China 02/20/22, 06:08

Starbucks raised the prices for some beverages and meals in China by $0.16 to $0.32 on Wednesday, for the first time in over three years, WSJ reported. Starbucks' sales in China have slowed in recent months, and several factors, including operating costs, influence the company's pricing selections. Starbucks said Thursday that it ...

German media: US focus is Asia, not Europe

China 02/20/22, 05:30

U.S. Secretary of State Antony Blinken paid a 7-day visit to the Asia-Pacific region on Feb. 10. It was the first trip by a U.S. Secretary of State in nearly four decades and amid a hyped-up crisis in Ukraine. A report by German newspaper Die Welt on Feb. 18 viewed that ...

China intervenes in the West’s politics: Norwegian government report

Insights 02/20/22, 04:20

Norway recently released its 2022 public threat and risk assessment report, which points out that China already has the will and ability to intervene in the political process of Western countries. The report's assessment of domestic threats in Norway focuses specifically on the use of Chinese and Russian intelligence tools, ...

US Trade Representative: New strategies needed to counter China state-led trade

Economy 02/19/22, 20:53

According to Reuters, U.S. Trade Representative Katherine Tai said in her new assessment report that the United States needs to develop new strategies and update its domestic trade tools to counter China's "state-led, non-market policies and practices." Tai said: "China has not moved to embrace the market-oriented principles on which the ...

Despite China’s pressure, German Group continues to invest in Lithuania

Insights 02/19/22, 20:33

Against the backdrop of Chinese pressure, a senior executive of Germany's Continental Group had revealed that the group would continue to invest in a factory in Lithuania, Reuters reported on Feb. 18. The head of Continental's Lithuanian plant, Shayan Ali, told local newspaper Verslo Zinios that the company's investment plans had ...

US not intending to include China in the new Indo Pacific Economic Framework

China 02/19/22, 20:22

According to U.S. Assistant Secretary of State for East Asian and Pacific Affairs Daniel Kritenbrink, the U.S. has "no intention" of interacting with China in its upcoming Indo-Pacific Economic Framework. Instead, it talks to partners who share the same objective of a free and open region free of coercion. Last week, ...

Everbright Bank corruption case: 10 people arrested in 4 provinces in 2 hours

Economy 02/19/22, 20:22

On February 12, China Discipline Inspection and Supervision News published an article detailing the case of Zhu Huimin, former chairman of China Everbright Industries Co., for the first time. With the coordination of the National Supervisory Commission (NSC) and the Central Commission for Discipline Inspection (CCDI), the Heilongjiang Provincial Commission ...

Meihua becomes the first Chinese firm to list in US after Didi crackdown

China 02/19/22, 20:07

Bloomberg reported that Meihua International Medical Technologies Co., a medical equipment business, has become the first Chinese company to list in the United States since Didi Global Inc.'s IPO prompted a regulatory reaction in July. According to an announcement, Meihua raised $36 million on Wednesday by selling 3.6 million shares for ...

EU challenges China at WTO over Beijing’s telecom license protection

Tech 02/19/22, 19:40

The EU, on Friday, Feb. 18, filed a lawsuit against China at the World Trade Organization (WTO), accusing Beijing of using domestic courts to undermine intellectual property laws and allowing Chinese telecom giants such as Huawei and Xiaomi to obtain low-cost technology licenses. The European Commission said that since August 2020, ...

Citibank moves key staff out of Hong Kong

Economy 02/19/22, 19:04

According to a Bloomberg report on Feb. 16, Citibank is relocating six senior executives from Hong Kong to Singapore, London, Australia, and other countries. Two key figures of the bank giant moving out of Hong Kong are Sue Lee, the region's head of equity derivatives distribution, and Lee McQueen, head of ...