China’s National Healthcare Security Administration (NHSA) announced on Jan. 10 that it will not include Pfizer’s Paxlovid in its national reimbursement plan due to its high cost. The negotiation between China and Pfizer on Tuesday failed because Pfizer considered China “a middle-income country,” and the price proposed by Beijing was lower than what Pfizer would…
Pfizer’s Paxlovid Fails to Get in China’s National Insurance Policy
January 13, 2023
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China Consumer Inflation Accelerates in Dec; PPI Falls With Soft Demand
BEIJING—China’s annual consumer inflation rate accelerated in December, driven by rising food prices even as domestic demand wavered amid restrained economic activity. Economists expect inflation to continue to pick up in the first quarter of 2023. The consumer price index (CPI) in December was 1.8 percent higher than a year earlier, rising faster than the…
China Consumer Inflation Accelerates in December; PPI Falls With Soft Demand
BEIJING—China’s annual consumer inflation rate accelerated in December, driven by rising food prices even as domestic demand wavered amid restrained economic activity. Economists expect inflation to continue to pick up in the first quarter of 2023. The consumer price index (CPI) in December was 1.8 percent higher than a year earlier, rising faster than the…
Disney, NBA Execs ‘Have to Testify’ Before New House Panel on CCP Ties: Rep. Gallagher
January 12, 2023
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The new House Select Committee on Strategic Competition between the United States and the Chinese Communist Party (CCP) will call on executives from the Walt Disney Company and the NBA to publicly testify and defend their ties to China’s communist regime. Rep. Mike Gallagher (R-Wisc.), who will chair the committee, made the announcement during a…
Foreign Affairs Committee Chair Sounds Alarm Over ‘Stealth’ Chinese Purchase of Cambridge Chip Startup
January 12, 2023
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Foreign Affairs Committee Chair Alicia Kearns on Wednesday wrote to Business Secretary Grant Shapps, calling for a review into the Chinese take over of a UK semiconductor company. She said the investment into Cambridge University start-up Flusso wasn’t reviewed under the National Security and Investment Act because the name of the acquirer was not mentioned…
Argentina and China Formalize Currency Swap Deal
BUENOS AIRES—Argentina and China have formalized the expansion of a currency swap deal, allowing the South American country to increase its depleted foreign currency reserves, the Argentine central bank said on Sunday. Argentina’s government needs to rebuild reserves to cover trade costs and future debt repayments, and more reserves are a key objective of a…
DeSantis Eyes Ban on China-Based Entities From Purchasing Florida Property
January 11, 2023
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Florida Gov. Ron DeSantis is mulling a move to ban Chinese entities from purchasing property in the state due to the economic and security risks posed by China’s communist regime. “If you look at the Chinese Communist Party, they’ve been very active throughout the Western Hemisphere in gobbling up land and investing in different things,”…
‘Carry Water for Beijing’: Rubio Sounds Alarm on JP Morgan’s Partnership With TikTok’s Chinese Owner
January 11, 2023
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Sen. Marco Rubio (R-Fla.) has raised “strong concern” over banking giant JP Morgan Chase’s decision to partner with China-based ByteDance to develop its next-generation payment systems. ByteDance is the parent company of social media giant TikTok, and has drawn heightened scrutiny over its ties with the Chinese Communist Party (CCP), which rules China as a…
Beijing Claims Chinese Economy Will Resume High Growth Despite Lack of Structural Reforms
News Analysis The Chinese Communist Party’s (CCP) state media has recently been working hard to promote private enterprises in the country, claiming that China’s economy will soon recover and resume high growth as the CCP drops its pandemic policies. The real challenge at this stage for China’s economy is that its investment-led growth model is…
Waiting Times for Some Tesla Models in China Increase After Automaker Discounts
SHANGHAI—Prospective Tesla Inc. buyers in China are waiting longer for certain versions of its Model Y car, suggesting the electric-vehicle maker’s decision to cut prices is stoking demand in its second-largest market. Tesla cut prices by 6 percent to 13.5 percent on Friday, bringing some of its auto prices to near BYD’s best-selling models in a…
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