Tag Archives: Chinese

Trump moves to slap duties on Chinese aluminum foil

Trump hits Canadian lumber with steep tariffs The Trump administration has taken the first steps to hit China with a duty on its aluminum foil exports. The Commerce Department announced a preliminary decision Tuesday evening to tax aluminum foil from China at a rate of between 16.5% and 81%, based on the subsidies it says it receives from the Chinese government. “The United States is committed to free, fair and reciprocal trade, and will continue to validate the information provided to us that brought us to this decision,” Commerce Secretary ...

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Chinese billionaire battles talk of trouble at real estate empire

China’s richest man’s Hollywood ambitions Chinese billionaire Wang Jianlin is fighting back against talk that his sprawling business empire is in trouble. Wang’s Dalian Wanda Group is one of China’s biggest conglomerates, with several international acquisitions under its belt. Less than a year ago, Wang was promising to become the world leader in real estate, tourism, entertainment and sports. Now he’s on the defensive.Last week Dalian Wanda sold several theme parks and dozens of hotels for $ 9.3 billion, marking the end of Wang’s dream to defeat Disney(DIS) in China. ...

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Chinese Censors Working Overtime in Wake of Dissident Liu Xiaobo’s Death

Last week, Chinese literary critic, writer, poet, Nobel Peace Prize winner, and long-time civil rights activist Liu Xiaobo died of terminal liver cancer. Ever since then, China’s web of censorship and online suppression is reportedly working around the clock to prevent any sort of discussion or movement that could build around the outspoken activist’s work. According to the Citizen Lab at the University of Toronto’s Munk School of Global Affairs, there was a significant shift in Chinese censorship patterns following Liu’s death. The Citizen Lab analyzed the Chinese messaging app ...

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Chinese money has changed the face of Hong Kong's skyline

Hong Kong: How the city has changed since 1997 You know your neighborhood is getting priceywhen even luxury brands like Gucci move out. The Italian fashion house is just one of many top Western firms that have found themselves on the wrong end of Hong Kong’s dizzying real estate boom. The price of commercial property in prime areas of the city has almost doubled since the U.K. handed it back to China two decades ago, becoming the most expensive in the world. Like many things that have changed in Hong ...

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Chinese students are losing interest in working at international firms

Baidu CEO: Immigrants welcome The desire to work for international companies is waning amongst China’s best and brightest. Scoring a job at a big Western firm used to carry serious cache in China, but now just 18% of Chinese college students say they want to work for an international company, according to a new survey conducted by research firm Universum. That’s down from 28% two years ago. Local companies are growing faster and seen as more innovative, according to William Wu, Universum’s country manager for China. “In that sense, the ...

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Businesses cash in as millions of Chinese students sweat over crucial exam

For millions of teenagers, it’s a big source of stress. For many businesses, it’s a great chance to make money. More than 9 million high-school students across China are taking the biggest exam of their lives this week. Known as the gaokao, the grueling two-day test determines where the students go to university and what they’ll study. With so much riding on the outcome, parents are willing to loosen the purse strings to try to ensure success, splashing out on private tutors, good luck charms and even luxury hotels. “Gaokao ...

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Chinese firm: We're missing $350M after exec's disappearance

Chinese firm lost contact with top exec The future is looking pretty sour for a major Chinese dairy firm. China Huishan Dairy says it’s missing most of its cash — about $ 357 million — following the disappearance of a top finance executive. The company, which says it runs more than 80 dairy farms, has been sinking deeper into crisis since its stock plunged 91% on a single day in March. In a statement Monday, Huishan said its accounts suggested it should have 2.9 billion yuan ($ 426 million) in ...

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Would you buy a Chinese car called Trumpchi?

GAC’s Trumpchi GS4 model. One of China’s biggest automakers plans to start selling cars in the U.S., but it’s facing a headache over the name of its flagship brand: Trumpchi. It was intended to sound like its Chinese name, Chuanqi. But executives at the brand’s owner, Guangzhou Automobile Group (GAC), are concerned the likeness to the U.S. president’s name could put its American ambitions in a spin. A GAC spokeswoman told CNNMoney that the company is doing research and consultation about whether to usethe Trumpchi brand in the U.S. It ...

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HSBC refuses to open bank account for Chinese dissident Ai Weiwei

Chinese artist Ai Weiwei poses in downtown Hong Kong, China April 19, 2017. REUTERS/Venus Wu By Venus Wu| HONG KONG Chinese dissident artist Ai Weiwei said on Wednesday global banking giant HSBC Holdings Plc refused to open a personal bank account for him in Hong Kong for what he assumed were political reasons, a conjecture the bank dismissed. The burly, bearded artist, who was in the financial hub for three days to visit his exhibition, said he did not try to open accounts at other banks, but that he had ...

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