Page 227 - China

Looking for opportunities in China after registering legal entity: Moderna

The U.S. biotech firm registered a unit called Moderna (China) Biotech Ltd in Shanghai on May. 24 with capital of $100 million, according to Chinese data providers

US, Chinese trade officials express concern over each other's restrictions

Commerce Secretary Gina Raimondo and her Chinese counterpart, Wang Wentao, expressed concern Thursday about policies of each other's governments following Chinese raids on consulting firms and U.S. curbs on exports of semiconductor technology, their governments said. The two sides announced no progress in disputes over technology and security but said Raimondo and Wang promised to strengthen exchanges on trade issues. Companies from both sides have been buffeted by tighter official controls on trade in semiconductors and other activity on security grounds. Political relations between the two governments are at their lowest level in decades following disputes over technology, security, China's territorial claims and Beijing's treatment of Hong Kong and ethnic minorities. Raimondo raised concerns about Chinese actions against U.S. companies in China, her office said in a statement. It said they also discussed the trade and investment environment and areas for potential cooperation but

Sri Lanka has no security arrangements with China: Wickremesinghe

Sri Lanka President Ranil Wickremesinghe said that Japan, China, India, and ASEAN, should commence an open-ended dialogue amongst themselves and thereafter with the other Asian countries

Chinese commerce minister to hold talks in US amid disputes over tariffs

China's commerce minister will hold talks with officials in the US this week amid sharpening disputes over tariffs and technology, his ministry said on Thursday. Wang Wentao will meet with Commerce Secretary Gina Raimondo and Trade Representative Katherine Tai while in the US to attend the Asia Pacific Economic Cooperation forum trade minister meetings on Thursday and Friday in Detroit, Michigan. In announcing Wang's visit, Commerce Ministry spokesperson Shu Jueting denounced a decision by Japan, a fellow APEC member, to join the US and Holland in barring Chinese access to leading-edge computer chip technology. This is the abuse of export measures and the departure from free trade and international economic and trade rules, Shu said. This will severely damage the interests of Chinese and Japanese enterprises and the trade cooperation between China and Japan. China has long been reliant on Japanese technology, but now needs machines available only from a single Dutch company, ASML

Chinese firms fuel Fentanyl drug abuse epidemic, earn millions in crypto

As countries like India struggle with the growing menace of drugs, crypto has emerged as a culprit as two separate reports by Blockchain research firms have revealed that Chinese chemicals companies

Stocks of Chinese pharma cos spike amid sharp increase in Covid cases

Amid a spike in COVID-19 infections in China, shares of the Chinese pharmaceutical countries have also seen a massive increase in their values on Wednesday, Hong Kong-based The Standard reported

State-sponsored Chinese hackers could be prepping for disruption: Microsoft

State-backed Chinese hackers have been targeting US critical infrastructure and could be laying the technical groundwork for the potential disruption of critical communications between the US and Asia during future crises, Microsoft said Wednesday. The targets include sites in Guam, where the U.S. has a major military presence, the company said. Hostile activity in cyberspace from espionage to the advanced positioning of malware for potential future attacks has become a hallmark of modern geopolitical rivalry. Microsoft said in a blog post that the state-sponsored group of hackers, which it calls Volt Typhoon, has been active since mid-2021. It said organizations affected by the hacking which seeks persistent access are in the communications, manufacturing, utility, transportation, construction, maritime, information technology and education sectors. Separately, the National Security Agency, the FBI, the Cybersecurity and Infrastructure Security Agency (CISA) and their ...

UBS China suspends funds management project after Credit Suisse deal

UBS is pausing work on its application for a wholly owned mutual fund firm in China in order to finish its acquisition of Credit Suisse and address any regulatory concerns brought on by the union

China defends ban on Micron, accuses Washington of 'economic coercion'

The Chinese government on Wednesday defended its ban on products from US memory chipmaker Micron Technology Inc. in some computer systems after Washington expressed concern, adding to strains over technology and security. The security review of Micron products was conducted in accordance with the law," said a foreign ministry spokesperson, Mao Ning. The Cyberspace Administration of China on Sunday said Micron products have unspecified security risks but gave no details. It banned them from computers that handle sensitive information. That came after Washington, Japan and the Netherlands blocked Chinese access to technology to make advanced processor chips on security grounds at a time when the ruling Communist Party is threatening to attack Taiwan and is more assertive toward its other Asian neighbours. China's cybersecurity review does not target specific countries or regions, Mao said. We do not exclude technologies and products from any country. Companies on both sides have bee

Pressure from West is strengthening ties with China, says Russian PM

Pressure from the West is strengthening Russia's ties with China, Russian Prime Minister Mikhail Mishustin said in a meeting with his Chinese counterpart in Beijing Wednesday. Mishustin's visit comes as Russia is increasingly turning to China for diplomatic and economic support amid growing isolation over its invasion of Ukraine. In opening remarks at his meeting Wednesday with Chinese Premier Li Qiang, Mishustin did not mention the 15-month-old war that China, in deference to Moscow, has refused to criticise, focusing instead on economic cooperation between the neighbours that have partnered in challenging the U.S. lead in global affairs. Relations between the two countries are at an unprecedented high level, influenced by the increased turbulence in the international arena and the pattern of sensational pressure from the collective West, Mishustin said. China says it is a neutral party between Russia and Ukraine and wants to help broker an end to the conflict. But it has blamed t

It's China's loss, not India's: Jitendra Singh on Beijing skipping G20 meet

China not attending the G20 meeting in Srinagar does not make any difference and it is their loss, not India's, Union minister Jitendra Singh said on Tuesday. Delegates of all G20 countries, barring China, arrived in Srinagar on Monday to attend the third G20 tourism working group meeting. "That (China not attending the meeting) does not make any difference. China not coming is China's loss, not India's," Singh told PTI on the sidelines of the G20 meet here. Asked if Beijing's abstention was linked to the eastern Ladakh border standoff, Singh said the Ministry of External Affairs will take a call on that. On holding the G20 event in Kashmir, Singh said different venues will give an idea to the delegates about the places they visit. "We are not a small, homogeneous nation like some countries in Europe. We are a diverse country," the Union Minister of State in the Prime Minister's Office added. Asked about Pakistani propaganda on Kashmir, the minister said the common people have mo

India, Mexico 'Best Structural Stories' in emerging markets: Global X

India is also in "prime spot" to benefit from the shift in supply chains away from China, he said

Human rights situation in Tibet 'major concern to us': G7 leaders

"This communique by G7 leaders shows that China's abuses in Tibet have not escaped the attention of some of the most influential leaders on the planet"

TikTok files suit to stop 'unconstitutional' ban in US State of Montana

Social media company TikTok Inc filed a lawsuit Monday seeking to overturn Montana's first-in-the-nation ban on the video sharing app, arguing the law is an unconstitutional violation of free speech rights and is based on unfounded speculation that the Chinese government could access users' data. The lawsuit by TikTok, owned by Chinese tech company ByteDance, follows one filed last week by five content creators. They made similar arguments including that the state of Montana has no authority to take action on matters of national security. Both lawsuits were filed in federal court in Missoula. Republican Gov Greg Gianforte signed the bill Wednesday and the content creators' lawsuit was filed hours later. The law is scheduled to take effect on Jan. 1, but cybersecurity experts say it could be difficult to enforce. TikTok says it has not shared and would not share US user data with the Chinese government and has taken measures to protect the privacy and security of its users, including

Cash-strapped Sri Lanka in deal with China's Sinopec to secure fuel

The nation's fuel retail market was a state monopoly under the Ceylon Petroleum Corporation (CPC) till 2003 when the Indian Oil Company was allowed to operate

Time to reform both Security Council and Bretton Woods system: UN chief

G7 calls for constructive and stable relations with Beijing

'Silly balloon' changed it all: says US President Biden on US-China ties

Meanwhile, China tells tech makers to stop using Micron chips

China tells manufacturers to stop using Micron chips, steps up feud with US

Stepping up a feud with Washington over technology and security, China's government on Sunday told users of computer equipment deemed sensitive to stop buying products from the biggest U.S. memory chipmaker, Micron Technology Inc. Micron products have unspecified serious network security risks that pose hazards to China's information infrastructure and affect national security, the Cyberspace Administration of China said on its website. Its six-sentence statement gave no details. Operators of critical information infrastructure in China should stop purchasing products from Micron Co, the agency said. The United States, Europe and Japan are reducing Chinese access to advanced chipmaking and other technology they say might be used in weapons at a time when President Xi Jinping's government has threatened to attack Taiwan and is increasingly assertive toward Japan and other neighbours. Chinese officials have warned of unspecified consequences but appear to be struggling to find ways

From electronics to semiconductor, MNCs in search of policy stability

Global manufacturing majors seek a less unpredictable policy environment before investing more 'China-Plus-One' dollars in India

Chinese investigators blame building collapse on illegal construction

The collapse of a nine-storey building in central China that killed 54 people last year was caused by shoddy, illegal construction and local officials' failure to enforce standards, according to an official report released Sunday. At least nine people including the building owner were reported arrested following the April 2022 disaster in Changsha, which trapped survivors under rubble for up to five days. Nine people were injured. The report by investigators appointed by the ruling Communist Party said the collapse of the self-built structure was due by illegal and irregular construction and additions by residents, according to state TV. It said local authorities were not serious about enforcing building rules and shirked responsibility. The report gave no indication of possible punishment for the owner and local officials. News reports at the time said the building had six stories, but Sunday's report said more were added up to a partial ninth level. It said that extra weight ...