Business

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

HSBC Doubles Down on China, Asian Markets Amidst Criticism by US, UK

Commentary After aligning with the Chinese Communist Party (CCP), there’s no turning back. Having faced criticism in the UK and the United States for endorsing the national security law forced upon Hong Kong by the CCP, global banking giant HSBC is now doubling down on China and the Asian market. The London-based international bank announced

The Fallout From Ant Group’s Collapsed IPO

Commentary Ant Group, China’s shiniest fintech star, was all set to raise a record-setting $37 billion in an initial public offering—before everything disintegrated in a matter of days. Ant’s IPO blowup shocked all involved parties, except perhaps those within the highest echelons of the Chinese Communist Party (CCP). From the wreckage of Ant’s share sale, we can draw a

China’s Foreign Exchange Reserves Are Running Out

Commentary The CCP (Chinese Communist Party) has been vaunting about “self-reliance” since its relationship with the United States took a sharp turn for the worse. However, the Chinese economy relies heavily on imported goods including petrol, food, and semiconductor chips. With a dwindling exportation prospect, the CCP has to depend on its foreign exchange reserves

Wave of Factory Closures Hits Shenzhen

After Chinese leader Xi Jinping’s visit to Shenzhen two weeks ago, in which he emphasized the city as an engine to drive up the economy of the Guangdong-Hong Kong-Macau Greater Bay Area, locals have raised concerns to The Epoch Times that factories continue to move out or close down in the industrial zone. Some analysts say this

China’s Digital Currency Poses Security Risks the West Can’t Ignore

Commentary The regime in Beijing recently completed digital yuan testing in a seemingly innocuous manner. In the southern city of Shenzhen, the Chinese Communist Party (CCP) distributed 10 million digital yuan to 50,000 residents in the form of virtual “red envelopes,” a whimsical reference to gifts of money received on the Lunar New Year. While

export oriented jobs in China

Challenges Impeding China’s ‘Internal Circulation’ Economic Strategy

The Chinese Communist Party (CCP) will lay down the outline of the 14th five-year plan, which covers China’s guiding economic and political strategies for 2021 to 2025, by the end of October. Analysts say that Chinese President Xi Jinping’s ‘internal circulation’-centric economic strategy may be fixed as a key policy for the next five years.

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