China’s 2021 trade surplus rises to record $676 bn, highest ever for any country

China’s politically volatile global trade surplus surged to $676.4 billion in 2021, likely the highest ever for any country, as exports jumped 29.9% over a year earlier despite semiconductor shortages that disrupted manufacturing. The country’s monthly trade surplus in December swelled 20.8% over a year earlier to a record $94.4 billion, customs data showed Friday. … Read more

It’s China vs. Walmart, latest Western brand entangled in human rights dispute

Beijing has attacked the retailer over Xinjiang, after similar moves against Intel, Adidas and H&M A New Year’s Eve salvo from Beijing accusing Walmart Inc. of “stupidity and shortsightedness” has driven home a stark challenge for Western businesses in one of their most promising markets: As governments ratchet up accusations of human-rights violations in China, … Read more

China is imposing quarantines of up to 7 weeks for cargo ship crew, and it’s bad news for the supply chain

China is imposing mandatory quarantines of up to seven weeks for returning Chinese seafarers. Crew changes are getting more difficult due to stricter government requirements, says the Global Maritime Forum. Ships are rerouting to work around China’s restrictions, prolonging shipments. China’s strict COVID-19 quarantines are making it difficult for ships to change crews, contributing to … Read more

China fines tech giants for failing to report 43 old deals

China’s market regulator on Saturday said it was fining companies including Alibaba, Baidu and JD.com for failing to declare 43 deals that date as far back as 2012 to authorities, saying that they violated anti-monopoly legislation. Enterprises involved in the cases would be fined 500,000 yuan ($78,000) each, it said, the maximum under China’s 2008 … Read more

Microsoft to shut down LinkedIn in China

LinkedIn is the only major U.S.-owned social network operating in China. Microsoft is pulling the plug on LinkedIn in China nearly seven years after its launch and will replace it with a stripped-down version of the platform that would focus only on jobs. LinkedIn is the only major U.S.-owned social network operating in the country, … Read more

China sends 56 jets into Taiwan defence zone in another record incursion

Taiwan urged Beijing to stop “irresponsible provocative actions” after 56 Chinese warplanes crossed into its air defence zone on Monday in yet another record incursion. The defence ministry said it scrambled aircraft to broadcast warnings after 36 fighter jets, 12 H-6 nuclear-capable bombers and four other planes entered its southwest air defence identification zone (ADIZ). … Read more

China bans men it sees as not masculine enough from TV

China’s government banned effeminate men on TV and told broadcasters Thursday to promote “revolutionary culture,” broadening a campaign to tighten control over business and society and enforce official morality. President Xi Jinping has called for a “national rejuvenation,” with tighter Communist Party control of business, education, culture and religion. Companies and the public are under … Read more

China is years ahead of other major countries in the development of its digital yuan, giving Beijing the chance to expand its influence: Chainalysis | Currency News | Financial and Business News

China is several years ahead of other countries in developing a central bank digital currency, Ulisse Dell’Orto of Chainalysis told CNBC Monday. “We haven’t seen a national roll out” like we have seen in China, Dell’Orto said. Crypto is still a barrier to the digital yuan despite China’s crackdown that grew in May. China is … Read more