China is cracking down on stocks that trade on U.S. exchanges. Here’s what it means if you hold them
China’s most powerful companies — including Didi, Alibaba and Tencent — are suddenly under immense scrutiny as country vows to crack down on domestic companies that list on U.S. exchanges. That move could upend a $2 trillion market loved by some of the biggest American investors. Beijing is stepping up its oversight on the flood of Chinese listings in […] Read more
The U.S. lags behind China and Europe when it comes to production and uptake of electric vehicles domestically, according to a new study by the International Council on Clean Transportation — and that gap widened from 2017 to 2020. The world manufactured more than 10 million electric passenger vehicles between 2010 and 2020, according to […] Read more
Bitcoin’s price tumbled Friday following an intensified call from Chinese authorities to crack down on mining and trading of the cryptocurrency. Chinese Vice Premier Liu He and the State Council said in a statement that tighter regulation is needed to protect the financial system. The statement, released late Friday in China, said it is necessary […] Read more
Adidas is more confident about sales this year as it notes stronger-than-expected demand for its products across the world, despite a boycott by consumers in mainland China. The German sportswear retailer expects currency-neutral sales to rise at a “high-teens” rate this year, with a “significant” acceleration already seen in the second quarter, the company said on […] Read more
China — Tesla faces mounting pressure in China as state media and regulators criticize the electric car maker following a woman’s protest at a major auto show this week. Tesla could be facing one of its worst public relations crises in China, a market investors see as critical for its growth. On Monday, a woman who claimed […] Read more
Huawei said Monday that U.S. sanctions on the company are partly to blame for the ongoing global chip shortage that’s the subject of a White House conference on Monday. Eric Xu, Huawei’s rotating chairman, said the sanctions imposed over the last two years on the Chinese tech company are, “hurting the global semiconductor industry” because they have […] Read more
China’s leadership in the digital currency space is turning a larger spotlight on U.S. initiatives, but similar efforts stateside aren’t likely any time soon. With its entry into the still-sparsely populated world of central bank digital currency, China takes a society that already leans heavily on electronic payments and mainstreams it. This also gives the […] Read more
The United States and Europe pledged deeper cooperation on countering China on Wednesday, with an agreement to start a formal US-European Union dialogue on the issue and a pledge by Nato to close ranks with “like-minded democracies” in the Asia-Pacific region. “We decided to continue meetings at the senior official and expert levels on topics […] Read more
BEIJING — China has recovered so rapidly from the coronavirus pandemic that authorities are pulling back support for the economy more quickly than they did following the 2008 financial crisis, according to Allianz. Back then, massive Chinese stimulus helped boost growth worldwide. This time, China’s focus on tackling problems at home will not provide the […] Read more
Agriculture Secretary Tom Vilsack believes China is making good on promises it made as part of the landmark phase one trade deal it signed with the U.S. last year. Vilsack said that the deal allows for market conditions to dictate how much Beijing is required to purchase from U.S. farmers. The Covid pandemic, he added, would […] Read more
