“It will be disastrous if all Chinese companies are forced to delist from US exchanges. Despite the intense competition between the two countries, they need, must, and have to be interdependent financially, economically, technologically, socially, and culturally,” Nina Xiang, managing director of China Money Network in Hong Kong said. BBC
Tim Cook, the chief executive of Apple, signed an agreement with Chinese officials, estimated to be worth about $275bn, to placate threats that would have hobbled its devices and services in the country, The Information reported on Tuesday. Apple did not immediately respond to a Reuters request for comment. The five-year agreement was made when Cook paid visits to China in 2016 to quash a host of regulatory action against the company, the report said, citing interviews and internal Apple documents. Cook lobbied Chinese officials, who believed the company was…
Advertisement The 2021 U.N. Climate Change Conference, known as COP26, concluded in Glasgow on November 13, with much fanfare about new targets and pledges to rein in carbon emissions, slow the pace of deforestation, and otherwise try to stem the spiraling increase in global temperatures. Largely absent from the cavalcade of notables and stream of announcements, however, was any significant representation by or discussion of China. This was problematic, as China’s participation is critical to any worldwide effort or climate initiative – but it also speaks to several aspects of…
HONG KONG — For months, as a troubled property company called China Evergrande spooked global markets with its financial problems, Beijing sat on the sidelines. Now, the government is taking a more hands-on role. Evergrande, the world’s most indebted property developer, said officials from several state-backed institutions had joined a risk committee that would help the company restructure itself. The committee, led by Evergrande’s founder, Xu Jiayin, will “play an important role in mitigating and eliminating future risks,” the company said in a filing late on Monday. The formation of…
Advertisement On Monday, the White House confirmed reports that it was instituting a diplomatic boycott on the Beijing 2022 Winter Olympics. “The Biden administration will not send any diplomatic or official representation to the Beijing 2022 Winter Olympics and Paralympic Games given the PRC’s ongoing genocide and crimes against humanity in Xinjiang and other human rights abuses,” White House Press Secretary Jen Psaki told reporters. She added, “The athletes on Team USA have our full support,” but the Biden administration “will not be contributing to the fanfare of the Games.”…
BEIJING — As President Biden prepares to host a “summit for democracy” this week, China has counterattacked with an improbable claim: It’s a democracy, too. No matter that the Communist Party of China rules the country’s 1.4 billion people with no tolerance for opposition parties; that its leader, Xi Jinping, rose to power through an opaque political process without popular elections; that publicly calling for democracy in China is punished harshly, often with long prison sentences. “There is no fixed model of democracy; it manifests itself in many forms,” the…
China has reacted angrily to the US government’s diplomatic boycott of next year’s Winter Olympics, as more countries said they would consider joining the protest over Beijing’s human rights record and New Zealand announced it would not send representatives to the Games. Chinese officials dismissed Washington’s boycott as a “posturing and political manipulation” and tried to discredit the decision by claiming that US diplomats had not even been invited to Beijing in the first place. The White House confirmed on Monday that it would not send any official or diplomatic…