Companies
Ministry to India: End trade friction
China’s Ministry of Commerce said on Wednesday that India should refrain from abusing trade remedy measures, which would disrupt economic cooperation and trade relations between the two countries.
China is paying close attention to trade investigations and hopes India would carry them out in a prudent way based on relevant regulations, Commerce Ministry spokesman Gao Feng told reporters at a news conference in Beijing on Wednesday.
India, which overtook the United States in the first half of this year with the most trade remedy investigations against China, said earlier this month it would impose anti-dumping duties on 93 products imported from China.
India has launched 212 investigations against Chinese products since 1994 and 93 of them are still in progress. So far this year, 13 investigations have been initiated, according to the ministry.
“China and India are both BRICS members with vast cooperation opportunities and should jointly maintain a free and open multilateral trading system,” Gao said.
“Instead of resorting to trade remedy measures and disrupting trade orders, the two countries can settle trade disputes through consultation and realize a win-win situation through expanded economic and trade cooperation,” he said.
According to Yao Weiqun, vice-president of the Shanghai WTO Affairs Consultation Center, India is one of the countries that “frequently resorts to trade remedy measures” to protect its local industries.
“In fact, companies from both countries should solve disputes based on WTO’s regulations and settle trade disputes through consultation,” he said.
Yao also suggested organizations such as the China Council for the Promotion of International Trade and industry associations should strengthen preparatory works in addressing trade friction.
The ministry also reiterated on Wednesday that China would take necessary means to defend the interests of China and Chinese firms against a US trade…
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.
(more…)Companies
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).
(more…)Companies
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.
(more…)- Italy and China New DTA Set to Take Effect in 2025: Important Changes and Implications
- China’s New Home Prices Stabilize After 17-Month Decline Following Support Measures
- U.S. national debt is its Achilles’ heel, but China sees it as an opportunity
- Business Update: Southern Sun Reports Earnings Growth; China Stimulates Property Market – News24
- Vietnam’s Approach to China: A Balance of Cooperation and Struggle
- 2025 Schedule of Public Holidays in China
