Business

Ready to Exit China? Tesla Pays Off $614 Million Loan for Its Shanghai Factory

News Analysis Tesla has recently repaid in full the $614 million loan for the construction of its Gigafactory 3, a super factory located in Shanghai. After the news broke out, the rumor that Tesla may be preparing to leave the Chinese market spread fast on social media. The construction of the Shanghai plant began at

Chinese State-Run News Agency Xinhua Registers as Foreign Agent in US

Chinese state-run news agency Xinhua has registered as a foreign agent under U.S. law, more than two years after the Justice Department (DOJ) reportedly ordered it to do so. Xinhua’s U.S. division was registered under the Foreign Agents Registration Act (FARA) on May 5, according (pdf) to the department’s online FARA database. This makes Xinhua

Global Chip Shortage Underscores Need to Diversify US Supply Chain

Commentary The continuing global semiconductor shortage has highlighted the United States’ dependence on a fragile global supply chain of chip manufacturing that’s concentrated in Asia. Amid this environment, China’s increasingly combative stance against Taiwan—along with its massive domestic investment into chipmaking—is a key risk to the security of America’s chip supply. The worsening global computer

The Political Correctness of Hong Kong’s Tycoons

News Analysis On May 4, Robin Zeng Yuqun, a new immigrant from mainland China, replaced Li Ka-shing as the richest man in Hong Kong when his net worth soared along with the company’s stock prices. In the context of Beijing’s “patriots ruling Hong Kong,” his new status attracted additional attention. In Forbes’ real-time billionaires list,

Pharmaceutical Ingredients, a Strategic Weapon of China’s Communist Regime

On April 22, senators Elizabeth Warren, Tina Smith, and Marco Rubio reintroduced two pieces of legislation that would reduce reliance on foreign nations, especially China, to supply ingredients needed to make various drugs. The Communist regime’s control of pharmaceutical resources in the manufacturing chain is mounting and is putting the free world at risk. This,

TSMC’s Plan to Boost Chip Production in Chinese Factory Met With Opposition

Chip giant Taiwan Semiconductor Manufacturing Company (TSMC) recently announced its plan to add new production lines in its existing plant in Nanjing, China. However, an expert in China’s telecom industry penned an article to express his opposition, claiming that China may not obtain the technology it desires from TSMC, and Chinese companies will face more

Chinese Regime Clamps Down on 13 Tech Giants

On April 29, 13 internet platform providers engaged in finance services were summoned to a meeting in Beijing with regulators, the latest in a series of meetings aimed at tightening control over its homegrown internet giants. WeChat operator Tencent Holdings Ltd. and the on-demand delivery giant Meituan are among those tech firms which offer financial services like

Leaked Document Shows How Beijing Woos Foreign Firms to Prop Up Free-Trade Zones

The Chinese regime has been rolling out free-trade zones (FTZs) in recent years in an effort to entice foreign investments in the country. Since its initial effort in Shanghai in 2013, China has now expanded to about 20 FTZs. A leaked document recently obtained by The Epoch Times reveals how the Chinese Communist Party (CCP) went about wooing foreign

Banks’ Trillions in Climate Financing Pledges Are Bailout Hazard, Experts Warn

News Analysis Trillions in financing pledged by banks to climate change projects present an unprecedented gamble that could end up in potentially the largest government bailout ever seen, warned several experts on environmental policy and investment. Many of the world’s largest banks have recently made pledges to direct trillions in investments to projects meant to

Jack Ma Was Right When He Said, ‘Chinese Entrepreneurs Really Don’t End Up Well’

“Chinese entrepreneurs really don’t end up well.” This statement, made 10 years ago by Jack Ma the founder of Alibaba Group, recently went viral on the internet. It seems that Ma’s casual but ominous words have come true, and his current situation is a true reflection of what he said at that time. On April 12, Hong Kong-based Initium

Huarong Turmoil Tests Limits of Chinese Government Support

News Analysis Financial problems at a Chinese state-owned financial firm could make foreign investors reevaluate their risk tolerance for Chinese corporate bonds. One of China’s four massive asset management companies created around the turn of the century, China Huarong Asset Management Co., has been rumored to be on the verge of insolvency. As one of

Ericsson’s Backing Huawei Shows How Companies Become ‘Hostages’ to the CCP

News Analysis Telecommunication giant, Ericsson, did not enjoy the benefits of a ban of its rival, Huawei, in Sweden, instead, it has been asking its government to reconsider the ban; analysis suggested the profits gained from the Chinese market left the company susceptible to coercion by the Chinese Communist Party (CCP). As the United States and

CCP Inciting Nationalism Can’t Get It Out of Diplomatic Dilemma

Commentary The Chinese Communist Party (CCP) is suddenly caught in a diplomatic dilemma with the United States and the European Union and knows that it cannot resolve it. What is worse, it is not able to explain it domestically. Once again, it has to take the path of inciting nationalism in an attempt to cover up its diplomatic failure.

Beijing’s ‘Wolf Warrior’ Diplomacy May Doom EU–China Trade Deal

A major EU–China investment deal has been thrown into question after China resorted to aggressive diplomacy in response to EU sanctions. The European Union, the United States, the UK, and Canada on March 22 unveiled coordinated sanctions against Chinese officials responsible for the Chinese Communist Party’s (CCP) oppressive policy in the far-western Xinjiang region. The EU sanctioned four Chinese

Western Retailers Caught Between Revenue, Ethics Over Xinjiang Rights Abuses

News Analysis Many international brands have attempted to distance themselves from sourcing materials and labor from China’s Xinjiang region due to Beijing’s acts of genocide against the Uyghurs and other ethnic and religious minorities. The United States, European Union, United Kingdom, and Canada recently sanctioned certain Chinese officials over their involvement in the persecution of majority-Muslim minorities in

Las Vegas Sands’ Asian Bet Facing Economic and Political Risks: Expert

As Las Vegas Sands Corp. eyes Macau and Singapore for future growth, an expert warned that this move will likely be entangled with economic and political risks. The upscale resort and casino company announced on March 3 that it has reached an agreement to sell its Las Vegas real property and operations, including The Venetian Resort

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