Tag: China

• Thursday, March 22nd 2018 - 22:16 UTC

  Trump calls for reciprocity and reveals US$ 60bn tariffs in China imports

  

  President Donald Trump announced on Thursday his plans for tariffs on up to US$60 billion annually in Chinese imports, designed as retaliation for an administration report that will outline Beijing’s violation of U.S. intellectual property rights.

• Wednesday, March 21st 2018 - 10:03 UTC

  Financial leaders reject protectionism, but prepare for a trade war

  

  The world’s financial leaders rejected protectionism on Tuesday and urged “further dialogue” on trade, but failed to diffuse the threat of a trade war days before U.S. metals tariffs take effect and Washington is to announce measures against China. Finance ministers and central bankers of the world’s 20 biggest economies, which represent 75% of world trade and 85% of global gross domestic product, discussed trade disruptions as a risk to growth at a two-day meeting.

• Monday, March 19th 2018 - 09:03 UTC

  Xi Jinping has his most loyal ally, and head of anti corruption campaign, named vice-president

  

  China's parliament has endorsed Xi Jinping for a second term and appointed Wang Qishan as his vice-president. The ballot at the National People's Congress unanimously approved Mr Xi while Mr Wang received 2,969 votes in favor and only one against. Wang Qishan was previously in charge of corruption investigations in China.

• Monday, March 19th 2018 - 08:52 UTC

  Next chief of China's central bank was educated in University of Illinois

  

  US-educated economist Yi Gang has been named the next governor of China's central bank, replacing Zhou Xiaochuan. Mr Yi joined the People's Bank of China (PBOC) 20 years ago and has been its deputy governor since 2008. His appointment is being seen as one of ensured continuity as Beijing continues to try and rein in growing debt and limit risky financial practices.

• Monday, March 12th 2018 - 09:18 UTC

  China names an emperor for life: how imperialist the change will be?

  

  In the short space of two weeks, China has announced and now voted with near unanimous approval to amend the country’s constitution and give the party state’s powerful leader Xi Jinping a mandate to stay in office indefinitely. On Sunday, a controversial amendment to scrap a two-term limit on the office of the president was approved along with 20 other changes.

• Friday, March 9th 2018 - 11:39 UTC

  Sharp reaction from Asian nations to Trump's tariffs on steel and aluminum

  

  Major Asian nations reacted sharply to U.S. President Donald Trump's decision to impose tariffs on steel and aluminum imports on Friday, warning of damage to relations amid industry calls for retaliation.

• Friday, March 9th 2018 - 09:22 UTC

  EC demands £2.4bn from HM Customs because of 'undervalued' fraud of Chinese shoes and textiles

  

  European Commission has written to the UK government saying the UK owes €2.7bn (£2.4bn) in customs duties on shoes and textiles imported from China. The UK is accused of doing too little to prevent fraud after it was warned about the problem by the EU's watchdog Olaf in 2017. It begins a legal process which could end at the European Court of Justice.

• Thursday, March 8th 2018 - 09:28 UTC

  Chinese carmaker acquires US$ 9bn stake in Mercedes Benz, expecting to share auto technology

  

  Li Shufu, chairman of Chinese carmaker Geely, is making waves in the global auto market after buying a US$ 9 billion stake in Germany’s Daimler. Li, 54, the son of a farmer from China’s Zhejiang province, has led a major acquisition push globally since 2010, when he took over Swedish car brand Volvo from Ford Motor, US$ 1.8 billion deal.

• Tuesday, March 6th 2018 - 09:46 UTC

  China increases its military budget 8.1% to US$ 175bn; regional powers “nervous”

  

  China revealed on Monday that it will raise its military budget by US$ 175 billion for the 2018 fiscal year, 8.1% increase that is the largest military spending hike in three years. According to Premier Li Keqiang, the additional funding will “advance all aspects of military training and war preparedness, and firmly and resolvedly safeguard national sovereignty, security, and development interests.”

• Tuesday, March 6th 2018 - 09:36 UTC

  Beijing anticipates 6.5% growth, steady rise in foreign trade and prudent and neutral monetary policy

  

  China aims to expand its economy by around 6.5% this year, the same as in 2017, while pressing ahead with its campaign to reduce risks in the financial system, Premier Li Keqiang said on Monday. The goal was kept unchanged even though the economy grew 6.9% last year and exceeded the government's target.