Yellen kicks off China meetings with overcapacity concerns, encouraging market-oriented reforms

Chinese Vice Finance Minister Liao Min (2nd R) and U.S. Ambassador to China Nicholas Burns (R) receive U.S. Treasury Secretary Janet Yellen (R) upon her arrival in Guangzhou on April 4, 2024. Pedro Pardo | Afp | Getty Images BEIJING — U.S. Treasury Secretary Janet Yellen kicked off her first full day of official meetings … Read more

KKR says China’s real estate correction may only be halfway done

High-rise buildings are illuminated at night in the West Coast New Area of Qingdao, East China’s Shandong province, on March 22, 2024.  Nurphoto | Nurphoto | Getty Images BEIJING — China’s real estate troubles are likely far from over and industry problems need to be addressed quickly if overall GDP growth is to pick up … Read more

Xiaomi shares up 15% after Chinese smartphone maker launches first EV

A Xiaomi SU7 electric sedan is seen displayed at a regional HQ of Xiaomi in Nanjing in east China’s Jiangsu province.  Future Publishing | Future Publishing | Getty Images BEIJING — Shares of Chinese smartphone maker Xiaomi surged 15% when the Hong Kong market opened Tuesday, the first trading day since the company launched its … Read more

Huawei’s profit doubled in 2023 as smartphone, autos business picked up

Huawei brought one of the largest displays to Mobile World Congress in Barcelona in February 2024. Sopa Images | Lightrocket | Getty Images BEIJING — Chinese telecommunications company Huawei said Friday its net profit for 2023 more than doubled thanks to better product offerings. The company also attributed the profit gains to revenue growth of … Read more

Xiaomi releases electric car $4K cheaper than Tesla’s Model 3

Chinese consumer electronics company Xiaomi revealed Thurs., Dec. 28, 2023, its long-awaited electric car, but declined to share its price or specific release date. CNBC | Evelyn Cheng BEIJING — Chinese smartphone company Xiaomi said Thursday it will sell its first car for far less than Tesla’s Model 3, as price wars heat up in … Read more

China’s Xi tells U.S. CEOs that bilateral relations can have a ‘brighter future’

China’s President Xi Jinping speaks at an event held by the National Committee on US-China Relations and the US-China Business Council on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Leaders’ Week in San Francisco, California, on November 15, 2023. Carlos Barria | Afp | Getty Images BEIJING — Chinese President Xi Jinping told U.S. … Read more

China economy on track for strong March performance: China Beige Book

Employees work on a battery production line at Jiangsu Yongda Power Supply Co. on March 26, 2024 in Suqian, Jiangsu province of China. Vcg | Visual China Group | Getty Images BEIJING — China’s economy is ending the first quarter on a “strong” note, according to a business survey published by the China Beige Book … Read more

China’s Xi meets U.S. execs as businesses navigate bilateral tensions

China’s President Xi Jinping speaks at the “Senior Chinese Leader Event” held by the National Committee on US-China Relations and the US-China Business Council on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, California, U.S., November 15, 2023.  Carlos Barria | Reuters BEIJING — U.S. business leaders met with Chinese President … Read more

TikTok aside, Congress has its eye on the U.S. money going into China

A jogger runs by the U.S. Capitol as the deadline to avert a partial government shutdown approaches at the end of the day on Capitol Hill in Washington, U.S., September 30, 2023. Ken Cedeno | Reuters BEIJING — The U.S. Congress increasingly has its eye on American capital that’s allegedly funded China’s military development, indicating that greater … Read more

EU-China trade relations in ‘slow-motion train accident’: business group

A photovoltaic module company in Hefei, Anhui province, on Feb. 20, 2024. Future Publishing | Future Publishing | Getty Images BEIJING — Trade tensions between Europe and Beijing will likely escalate due to China’s growing ability to manufacture more cheaply in strategic industries, according to Jens Eskelund, president of the European Union Chamber of Commerce … Read more