China

German frontrunner Merz warns companies against China investment
24Jan mmBy Joe RodriguezNo Comments
China, World

German frontrunner Merz warns companies against China investment

Friedrich Merz, the conservative front-runner in the race to be Germany’s next chancellor, warned domestic companies against making bigger investments in China. “The decision to invest in China is a decision with great risk,” Merz said at a foreign policy event in Berlin on Thursday. “If you take this risk, do it in such a way that it doesn’t endanger the entire company group if you have to write off this investment from one year to the next.” The remarks by Merz, whose conservative CDU/CSU bloc is leading in the polls ahead of the Feb 23 snap election, signal a radical change from the China-friendly course of previous German governments. Following Russia’s invasion of Ukraine, Scholz’s three-party government started to implement what it called a de-risking strategy as part o...
Read More
China announces plans to increase financial liberalization.
24Jan mmBy Joe RodriguezNo Comments
China

China announces plans to increase financial liberalization.

China on Wednesday revealed a guideline, outlining 20 measures to expand financial opening up in the country's pilot free trade zones and a free trade port. These measures, focusing on six areas, aim to better align China's financial sector with international standards and advance institutional opening up of the sector, said the guideline jointly issued by the People's Bank of China, the Ministry of Commerce and three other government bodies. According to this document, foreign financial institutions will be granted the same treatment as their Chinese counterparts when providing new financial services not available in the country at that stage. Valid applications filed by financial institutions and cross-border financial service providers concerning financial services will be...
Read More
Singapore becomes a haven for companies and investors fleeing tensions between the US and China.
24Jan mmBy Brian ThompsonNo Comments
China, Market, Singapore, USA

Singapore becomes a haven for companies and investors fleeing tensions between the US and China.

Its reputation of political neutrality — and strength in life sciences — is making Singapore a favoured launchpad for western investors and Chinese startups. Two years ago, Polaris Partners, the investment arm of US pharmaceutical company Polaris, opened an office in Singapore as it started to ramp up investments in the Asian country. “Singapore has an extraordinary ecosystem,” says Amy Schulman, managing partner at Polaris Partners. “It has first rate science that gets a good amount of government support. It has terrific intellectual property protection, and it has organised rule of law system that makes things very appealing.” Singapore’s favourable tax system and English-speaking business community have also made it an ideal jumping off point for international companies se...
Read More
More international financial institutions are expanding their operations in China more quickly, hopeful about more chances.
23Jan mmBy Joe RodriguezNo Comments
China

More international financial institutions are expanding their operations in China more quickly, hopeful about more chances.

Multiple international financial firms recently announced establishment of their new branch companies in China or latest progress on local business expansion, indicating their growing attention on Chinese capital market. Morgan Stanley announced on Wednesday that its wholly-owned subsidiary futures company in China has officially commenced operations, primarily providing commodity futures brokerage services within China. This is another important milestone for Morgan Stanley's development in China. We will continue to build our comprehensive integrated financial services platform to better serve our domestic and international clients, said Gokul Laroia, CEO of Asia for Morgan Stanley, according to the company's official WeChat account. Morgan Stanley's futures headquarters is loc...
Read More
The “common prosperity” movement in China’s banking industry led to the introduction of salary limitations.
23Jan mmBy Joe RodriguezNo Comments
China

The “common prosperity” movement in China’s banking industry led to the introduction of salary limitations.

backed financial institutions in China have already placed annual salary caps on their senior executives, the Post has learned, as Beijing pushes forward with a campaign to narrow the wealth gap. The finance sector has been one of the main targets of China’s “common prosperity” drive, which has seen the industry hit with stricter regulatory supervision, rampant pay cuts and even some lay-offs in the past year.The Post previously reported that China’s state-backed financial institutions were planning to introduce staff salary caps set at 3 million yuan (then US$412,000) last July. Since then, several organisations have already implemented the policy – with some introducing an even lower cap, according to people familiar with the matter.Central government-owned financial institutions hav...
Read More
Trump warns China that further tariffs will be imposed on February 1.
22Jan mmBy Joe RodriguezNo Comments
China, World

Trump warns China that further tariffs will be imposed on February 1.

President Donald Trump on Tuesday warned that even more tariffs could be coming as soon as next week: This time China was his target, as Trump threatened to unleash a wave of higher taxes on imports from America’s second-biggest trading partner. In an Oval Office press conference that echoed similar off-the-cuff remarks on Monday, Trump said that he is considering a 10% across-the-board tariff on all Chinese goods starting as early as February 1. On Monday, Trump threatened 25% tariffs on Mexico and Canada but deflected on China, noting that former President Joe Biden left in place extensive tariffs that Trump imposed during his first administration. It’s unclear what prompted such a rapid change in Trump’s tariff policy, although he had promised as much as a 60% tariff on all g...
Read More
China’s soft diplomacy and economic necessity Seeking a reversal on admission without a visa
22Jan mmBy Joe RodriguezNo Comments
China

China’s soft diplomacy and economic necessity Seeking a reversal on admission without a visa

It was once a privilege afforded to only Singapore, Brunei and Japan but now travel rules have been relaxed for dozens of countries. But are many people coming? Afew years ago, getting a visa to visit China was a “ball ache”, says Kate Murray. The Australian was going for a four-day trade show, but the visa required a formal invitation from the organisers and what felt like “a thousand forms”. “They wanted so many details about your life and personal life,” she tells the Guardian. “The paperwork was bonkers.” But were she to go back again now, Murray could just jump on the plane. Australians are among citizens of almost 40 countries for which China now waives visas for business, tourism or family visits for up to four weeks. It’s a dramatic change in Beijing’s approach to ...
Read More
As tensions between the US and China increase, Malaysia links its fortunes to Singapore.
22Jan mmBy Brian ThompsonNo Comments
Asia, China, Singapore, USA

As tensions between the US and China increase, Malaysia links its fortunes to Singapore.

New special economic zone paves way for closer relations between one-time south-east Asian rivals As tensions ratchet up between two of Malaysia’s biggest trading partners, the US and China, the south-east Asian nation is increasingly looking to hitch its wagon to its more successful neighbour, Singapore. A special economic zone straddling the two countries — along with a raft of initiatives to build stronger ties — has been designed to help the pair withstand tougher global economic trading conditions. “We are entering a new era where global tensions are here to stay,” warned Singapore’s Prime Minister Lawrence Wong this month at the signing of an agreement to create the Johor-Singapore Special Economic Zone. “The world is becoming a more dangerous and troubled place. This...
Read More
Young adults in China are becoming more thrifty, which increases economic risks.
21Jan mmBy Joe RodriguezNo Comments
China

Young adults in China are becoming more thrifty, which increases economic risks.

The frugal trend that began in China during the economic disruption of the pandemic and deepened amid the crisis in the property market is intensifying as Gen Z shuns government calls to spend, spend, spend and doubles down on saving. On China's Instagram-like Xiaohongshu, or RedNote as it is known in the West, many under-30s are swapping notes on how to spend less on office lunches and shop on the cheap. Influencers are also sharing tips on turning financial discipline into a lifestyle. Posts on how to save money total more than 1.5 million with more than 130 million views. "I feel that the economy is quite bad, and it seems like it's hard for everyone to make money, so I think it's important to protect my own wallet," said Ava Su, who joined Alibaba (9988.HK), opens ne...
Read More
China’s Installed Renewables Achieved Yet Another Record in 2024
21Jan mmBy Joe RodriguezNo Comments
China

China’s Installed Renewables Achieved Yet Another Record in 2024

China broke its own record in installing renewable power in 2024, as the world’s top polluter continues to push its energy transition while the US shifts away from fighting climate change. China broke its own record in installing renewable power in 2024, as the world’s top polluter continues to push its energy transition while the US shifts away from fighting climate change. Article content Article content The world’s second-largest economy added roughly 277 gigawatts of solar last year, surpassing the previous year’s record of 217 gigawatts, the National Energy Administration said in a statement on Tuesday. It also added nearly 80 gigawatts of wind, according to the statement. Article content The record installation means China has hit its 2030 renewables target six...
Read More