Companies
Xi: China, Canada must enlarge trade
China and Canada should initiate negotiations on a free trade agreement as soon as possible, President Xi Jinping said on Thursday, while calling for joint efforts to promote bilateral trade.
The two countries should push forward cooperation in such areas as energy, resources, modern agriculture and clean technology, Xi said during his meeting with David Johnston, governor general of Canada, at the Diaoyutai State Guesthouse in Beijing.
The two leaders witnessed the signing of two memorandums of understanding on establishing the China-Canada Joint Committee on Culture and Olympic and Paralympic Winter Games cooperation.
Noting that China and Canada both have importance in the Asia-Pacific region, Xi said the two nations have wide common interests and huge space for cooperation. China would like to maintain high-level exchanges with Canada, make full use of dialogue mechanisms at all levels and expand exchanges in government departments, legislative bodies and political parties, he said.
The president called on the two countries to respect each other’s core interests and major concerns, and to push forward the development of the China-Canada strategic partnership.
China and Canada should deepen cooperation in areas including trade, law enforcement, science and people-to-people exchanges, Xi said, adding that the two countries should make full use of each other’s complementary advantages to achieve mutual benefits.
Johnston started a five-day visit to China on Monday. He visited the Chongqing Planning Exhibition Gallery on Tuesday in Chongqing and had a hot pot meal with Chinese students who will go to Canada to study in autumn.
Canada admires China’s achievements in sustainable development,…
China
Government subsidies don’t boost Chinese firms’ productivity
China’s industrial subsidies have caused considerable controversy both internationally and domestically. Trading partners have accused China of unfairly favouring its indigenous firms with subsidies, leaving foreign companies at a disadvantage in the race to lead the technologies of the future.
Governments around the world regularly spend an enormous amount of money subsidising businesses. But few spend like China. A 2022 report suggests that China spends 1.7–5 per cent of its GDP on industrial policies, more than most countries.
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Chinese Smartphone Manufacturer Lays Off 3,000 Employees Following Closure of Chip Design Division
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
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Company Owned by Chinese Billionaire Guilty of Paying $1 Million in Bribes to LA Councilman
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
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