The Taliban regime in Afghanistan reportedly arrested five men, including two Chinese nationals, over their alleged roles in the illegal smuggling of lithium-bearing stones from Afghanistan into China. The two Chinese nationals were accused of trying to smuggle 1,000 metric tons of stones containing 30 percent of lithium into China through Pakistan with the help…
Chinese Nationals Arrested in Afghanistan for Allegedly ‘Smuggling’ Lithium Into China
January 24, 2023
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Future Unclear for Tesla’s China Plant
News Analysis Tesla’s mega plant in Shanghai faces strong headwinds moving into 2023 due to trends favoring the localization of global supply chains amid fierce competition with Chinese automakers. The year didn’t start on a good note for the automaker when earlier this month, disgruntled Tesla owners protested at its various showrooms around China, upset…
US Should Be More Conciliatory to China: Bill Gates
January 23, 2023
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Tech billionaire Bill Gates says the United States and Australia should adopt a more conciliatory approach to working with China on issues such as climate change. Gates praised the Asian country’s economic growth. “I see China’s rise as a huge win for the world … the current mentality of the U.S. to China—and which is…
Surge in Recruitments at Funeral Homes Across China Reveals a Far Greater COVID Death Toll
January 23, 2023
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News Analysis Funeral homes in China have been actively recruiting new employees and temporary staff amid the major COVID-19 outbreak, with a surge of job postings appearing all over domestic employment websites. Experts and Chinese crematorium workers say China’s COVID death toll is vastly underreported. As China battles the infection surge that followed its lifting…
China’s 2022 Economic Growth One of the Worst on Record, Post-Pandemic Policy Faces Test
BEIJING—China’s economic growth in 2022 slumped to one of its worst levels in nearly half a century as the fourth quarter was hit hard by strict COVID-19 curbs and a property market slump. The quarterly growth and some of the December indicators such as retail sales beat market expectations, but analysts noted the overall economic…
Chip Sales Plunge in China, Buffeting Global Industry
News Analysis Chip sales in China have tumbled at a whopping rate, as productivity in the semiconductor-related sector has contracted dramatically, indicating that the country’s manufacturing industry is shrinking, according to the latest industrial report. The Washington-based Semiconductor Industry Association (SIA) released data on Jan. 9 indicating that compared to the same period in 2021,…
Comply With EU Rules or Face Ban, Breton Tells TikTok CEO
STOCKHOLM—Chinese social media company TikTok could face a ban in the European Union if it does not step up efforts to comply with EU legislation before September, the top official overseeing the EU’s internal market told the company’s CEO on Thursday. TikTok needs to bring its business in line with the EU’s Digital Services Act…
China’s Guangdong Spent $22 Billion on Zero-COVID in 3 Years
January 19, 2023
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Three years under the Chinese Communist Party’s zero-COVID policy is a disaster to local finances. Southern China’s Guangdong Province directly spent $22 billion on the central government’s COVID containment measures, such as mass testing and forced vaccination, over the last three years. Guangdong, China’s economic powerhouse, spent a total of 146.8 billion yuan ($21.65 billion)…
IEA Says Predicting Oil Demand to Hit Record High This Year on China’s Reopening
January 18, 2023
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The International Energy Agency (IEA) says it predicts that demand for oil could reach record levels this year, given mainland China’s reopening of its economy. Demand for crude fell in the second half of 2022, as China’s ruling Chinese Communist Party (CCP) maintained its “zero-COVID” policy stance. The combination of mild weather and weaker industrial…
Five Events That Impacted China’s Economy in 2022
Analysis Looking back at 2022, China’s economy increasingly struggled under various policies of the Chinese Communist Party (CCP). From the extreme “zero-Covid” policy to the regulations in the real estate sector, and from the waves of defaulted loans on incomplete buildings to the deterioration of exports, China’s economy has been hit hard, and many policies…
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