中文

CGCC Week In Review

     

Connecting People, Building Trust, Expanding Cooperation

week31 | 2021

week31 | 2021

CGCC News
Successful Completion of the Foundation of the Hailiang Texas Copper Manufacturing Plant was Celebrated During Recent Ceremony
Read More
U.S. regulator freezes Chinese company IPOs over risk disclosures - Reuters
The U.S. Securities and Exchange Commission (SEC) has stopped processing registrations of U.S. initial public offerings (IPOs) and other sales of securities by Chinese companies while it crafts new guidance for disclosing to investors the risk of a new regulatory crackdown by Beijing, according to people familiar with the matter.
Read More
Biden wants U.S automakers to pledge 40% electric vehicles by 2030 - Reuters
The White House has told U.S. automakers it wants them to back a voluntary pledge of at least 40% of new vehicles sales being electric by 2030 as it works to reduce greenhouse gas pollution, sources briefed on the matter said.
Read More
U.S. economy contracted 19.2% during COVID-19 pandemic recession - Reuters
The U.S. economy contracted at a record average annualized rate of 19.2% from its peak in the fourth quarter of 2019 through the second quarter of 2020, government data showed on Thursday, confirming that the COVID-19 recession was the worst ever.
Read More
China Moves to Reassure Global Banks and Investors After Market Rout - WSJ
China moved to ease investor concerns about crackdowns on listed companies, with a top regulator privately telling global financial firms that Beijing will consider the market impact before introducing future policies, people familiar with the matter said.
Read More
Vaccination Rates Drive Global Economic Growth Prospects, IMF Says - WSJ
The economic outlook is diverging for countries based largely on how well they are rolling out Covid-19 vaccinations, according to new forecasts released Tuesday by the International Monetary Fund.
Read More
China’s New Ambassador to the U.S. Adopts Placating Tone - WSJ
NEW YORK—China’s new envoy to the U.S. struck a conciliatory note upon his arrival in Washington on Wednesday, pledging to repair the increasingly testy relationship between the two world powers days after Chinese Foreign Ministry officials greeted a visiting senior State Department official with a chilly lecture on diplomacy.
Read More
Big Oil Companies Push Hydrogen as Green Alternative, but Obstacles Remain - WSJ
Big oil companies have long touted hydrogen energy as a way to reduce carbon emissions. Now they are grappling with how to make that a reality.
Read More
Big Pharma Quietly Pushes Back on Global Tax Deal, Citing Covid-19 Role - WSJ
Big drug companies and their lobbyists have a message for Congress: Don’t raise taxes on the industry that brought you fast-tracked Covid-19 vaccines.
Read More
CDC Urges Vaccinated People to Resume Wearing Masks Indoors in Some Areas - WSJ
The Centers for Disease Control and Prevention, citing the highly transmissible Delta variant, recommended Tuesday that vaccinated people resume masking indoors in certain parts of the country and that K-12 schools adopt universal masking for teachers, staff, students and visitors regardless of vaccination status.
Read More
Investors Are Buying American - WSJ
Investors around the globe are pouring money into U.S. financial assets, a sign of confidence that the world’s largest economy remains poised to pull through the Covid-19 pandemic better than many others.
Read More
A Key Gauge of Future Inflation Is Easing - WSJ
One of the most important signals of future inflation has begun to ease in the past month, a development that should reassure the Federal Reserve in its prediction that the recent inflation surge will prove largely temporary.
Read More
China says US relations at a ‘deadlock’ in high-level talks | Financial Times
Beijing’s vice foreign minister urges Washington to change ‘extremely dangerous’ policy
Read More
China’s Tutoring Restraint Slams Stocks - WSJ
SINGAPORE—China confirmed it would take drastic steps to restrain the country’s booming after-school tutoring industry, prompting further selloffs in stocks like New Oriental Education & Technology Group Inc. EDU -54.22% on Monday.
Read More
Biden’s China Policy Borrows From Trump and Adds Allies to Raise Pressure
The emerging U.S. approach to China will get a test during the first high-level face-to-face exchange in months
Read More
U.S. Set to Push Global Economy Over the Recovery Line - WSJ
The U.S. economy likely returned to its late-2019 size during the three months through June, helping to lift global output above its pre-pandemic level for the first time.
Read More

week30 | 2021

week30 | 2021

CGCC News
CGCC Leaders Roundtable with Weijian Shan
Read More
World food prices fall in June for first time in a year - Reuters
World food prices fell in June for the first time in 12 months, pushed lower by declines in vegetable oils, cereals and dairy products, the United Nations food agency said on Thursday.
Read More
Bitcoin Is Failing Its First Inflation Test as Selloff Deepens - WSJ
Bitcoin’s steep selloff is undercutting the argument made by the digital currency’s proponents that it’s an inflation hedge.
Read More
Intel CEO Says Chip Shortage Could Stretch Into 2023 - WSJ
Intel Corp.Chief Executive Pat Gelsinger sees the global semiconductor shortage potentially stretching into 2023, adding a leading industry voice to the growing view that the chip-supply disruptions hitting companies and consumers won’t wane soon.
Read More
Wall Street banks redirect China IPOs to Hong Kong after Didi shock | Financial Times
Beijing’s new cyber security rules sever lucrative flow of listings to New York stock market
Read More
Bond Rally Undercuts Inflation Fears - WSJ
The monthslong decline in bond yields exemplifies investors’ belief that inflation likely isn’t the biggest problem facing the U.S. and global economy.
Read More
Delta Variant of Covid-19 Isn’t Expected to Dent Robust U.S. Recovery - WSJ
The highly contagious Delta variant of Covid-19 doesn’t pose an immediate risk to the strength of the U.S. economic recovery, with analysts expecting a robust expansion to continue in the second half of the year.
Read More
China Moves to Ease Child-Rearing Costs, in Drive to Boost Births - WSJ
China said it would ease financial burdens and social restrictions associated with child-rearing, seeking to encourage births as it loosens decades-old rules on family planning.
Read More
Wall Street bounces back on renewed economic optimism - Reuters
Wall Street ended sharply higher on Tuesday, rebounding from a multi-day losing streak as a string of upbeat earnings reports and revived economic optimism fueled a risk-on rally.
Read More
No. 2 U.S. diplomat Sherman to visit China July 25-26 - Reuters
U.S. Deputy Secretary of State Wendy Sherman will visit China on July 25-26, the State Department said on Wednesday, as part of an Asia trip that includes stops in Japan, South Korea and Mongolia.
Read More
Chip Shortage Reaches Smartphone Makers - WSJ
SEOUL—The smartphone industry is showing battle scars from the world-wide chip crunch.
Read More
Global Data Restrictions on the Rise Amid Privacy and Security Fears
Chinese scrutiny of tech firms is part of a wave of measures around the world aimed at keeping data in-country
Read More
Covid-19 Worries Ripple Through Markets - WSJ
Stocks, bond yields and oil prices declined Monday in the most acute sign yet that investors are second-guessing the strength of the global economic recovery that sent markets soaring this year.
Read More
China Steels Itself for Fight to Cool Rising Commodities Prices - WSJ
HONG KONG—China’s multipronged campaign to roll back rising commodity prices is pitting the world’s largest buyer of many major resources and its brand of command economic policy against global market forces. Prices show victory remains elusive.
Read More
Red-Hot U.S. Economy Expected to Cool From Here - WSJ
The U.S. economy’s 2021 growth surge likely peaked in the spring, but a strong expansion is expected to continue into next year, say economists surveyed by The Wall Street Journal.
Read More
How China Is Helping to Damp Global Inflation - WSJ
HONG KONG—As China’s factory-gate prices soared this year, investors worried the country would become a new source of inflation for the rest of the world.
Read More

week29 | 2021

week29 | 2021

CGCC News
CGCC Leaders Profile: SUN Ya, CEO/President of JN Fibers
Originally from the city of Cixi in Zhejiang Province, Ms. Sun began her career in the Polyester staple fiber industry ...
Read More
China Plans to Exempt H.K. IPOs From Cybersecurity Reviews - Bloomberg
China plans to exempt companies going public in Hong Kong from first seeking the approval of the country’s cybersecurity regulator, removing one hurdle for businesses that list in the Asian financial hub instead of the U.S., according to people familiar with the matter.
Read More
FOREX-Dollar recovers ground as jobless claims data helps - Reuters
The U.S. dollar edged higher on Thursday, recovering some of the ground lost in the prior session after the head of the Federal Reserve told Congress he saw no need to rush the shift towards tighter post-pandemic monetary policy.
Read More
U.S. to sanction Chinese officials and warn companies over Hong Kong - Reuters
The United States is preparing to impose sanctions on Friday on a number of Chinese officials over Beijing's crackdown on democracy in Hong Kong, and warn international businesses operating there about deteriorating conditions, two people with knowledge of the situation told Reuters.
Read More
Commerce Department to Tap Former Pentagon Official for Export-Control Post - WSJ
WASHINGTON—The Biden administration named Alan Estevez, a former Pentagon official in the Obama administration, as the Commerce Department undersecretary in charge of export control.
Read More
China’s Economic Growth Slows in the Second Quarter - WSJ
BEIJING—China’s economic rebound slowed in the second quarter but continued to show unusual resilience more than a year after the country largely got control of the coronavirus within its borders.
Read More
China Set to Launch the World’s Largest Emissions-Trading Program - WSJ
HONG KONG—China is set to launch its long-planned national emissions-trading program—a system that would create the world’s largest carbon market and double the share of global emissions covered under such programs.
Read More
Democrats Propose $3.5 Trillion Budget to Advance with Infrastructure Deal - The New York Times
Top Democrats announced on Tuesday evening that they had reached agreement on an expansive $3.5 trillion budget blueprint, including plans to pour money into addressing climate change and expanding Medicare among an array of other Democratic priorities, that they plan to advance alongside a bipartisan infrastructure deal.
Read More
U.S. SEC focuses on bank fee conflicts as it steps-up SPAC inquiry - Reuters
The U.S. securities regulator has ramped-up its inquiry on Wall Street's blank check acquisition frenzy, homing in on potential conflicts of interest created when banks act as underwriters and advisers on the same deal, three people with direct knowledge of the matter told Reuters.
Read More
U.S. ramps up warnings of business risks in China's Xinjiang region - Reuters
The U.S. government on Tuesday strengthened its warnings to businesses about the growing risks of having supply chain and investment links to China's Xinjiang region, citing forced labor and human rights abuses there.
Read More
China’s Export Engine Accelerates, Defying Expectations - WSJ
China’s imports and exports posted stronger-than-expected growth in June as global demand for Chinese goods remained solid and sporadic Covid-19 outbreaks in the country’s biggest export hub didn’t hit outbound shipments as much as expected.
Read More
Wave of Bullish Oil Bets Drives Big Price Moves - WSJ
Hedge funds and other speculative investors recently pushed bets on rising oil prices to their highest level in years, a sign that one-sided positioning is sparking big moves in the world’s busiest commodity market.
Read More
Governments World-Wide Gorge on Record Debt, Testing New Limits - WSJ
The pandemic has pushed global government debt to the highest level since World War II, surpassing the world’s annual economic output. Governments, especially in rich countries, are borrowing still more, partly to erase the damage of Covid-19.
Read More
U.S. drug regulators unmoved by Pfizer plan to seek Covid booster authorization - MarketWatch
In an unusual exchange, the Food and Drug Administration and the Center for Disease Control on Thursday said there isn’t scientific evidence that COVID-19 booster shots are required, hours after drug maker Pfizer said it would seek authorization for a Covid booster shot to help contain the Delta variant.
Read More
China condemns 'unreasonable suppression' as U.S. expands economic blacklist - Reuters
China said on Sunday it "resolutely opposes" the addition of 23 Chinese entities to a U.S. economic blacklist over issues including alleged human rights abuses and military ties.
Read More
Multinationals tax shift unlikely until 2022, says Yellen - Reuters
U.S. Treasury Secretary Janet Yellen on Sunday said that a newly endorsed mechanism to allow more countries to tax large, highly profitable multinational companies may not be ready for consideration by lawmakers until spring 2022.
Read More

week28 | 2021

week28 | 2021

Pfizer to Ask Regulators to Authorize Covid-19 Vaccine Booster - WSJ
Pfizer Inc. will seek clearance from U.S. regulators in coming weeks to distribute a booster shot of its Covid-19 vaccine to heighten protection against infections, as new virus strains rise.
Read More
Stocks Close Lower on Economic Worries - WSJ
U.S. stocks tumbled Thursday, while Treasury yields sank for a fourth day, as investors unwound bets on a spell of high growth and inflation.
Read More
U.S. set to blacklist more Chinese companies over human-rights violations: report - MarketWatch
At least 10 more Chinese companies will soon be added to the U.S. economic blacklist over alleged human-rights violations, Reuters reported Thursday night.
Read More
Hong Kong Moves to Speed Up IPOs - WSJ
Hong Kong’s stock exchange is moving to speed up initial public offerings, overhauling a system where investors must wait at least a week for a newly priced stock to start trading.
Read More
Biden Builds on Trump’s Use of Investment Review Panel to Take On China - WSJ
WASHINGTON—A low-profile government committee that reviews business deals for national security concerns is receiving expanded emphasis as part of the Biden administration’s plan to compete with China.
Read More
China's cabinet says it will use RRR cuts to support real economy | Reuters
China will use timely cuts in the bank reserve requirement ratio (RRR) to support the real economy, especially small firms, the cabinet said on Wednesday.
Read More
Investors in Chinese Stocks Hope for Better Second Half After Weak Showing - WSJ
After a lackluster first half for Chinese stocks, investors and analysts are optimistic the next six months will bring better returns.
Read More
Chinese listings in US flop despite fundraising frenzy | Financial Times
IPOs provide payday for Wall St but poor returns for investors with many below offer price
Read More
Biden to Temper U.S. Use of Sanctions Weapons, Officials Say - WSJ
The Biden administration is revamping the way the U.S. uses punitive sanctions, aiming to stem sweeping pressure campaigns, avoid collateral economic damage and act jointly with allies rather than unilaterally, according to people involved in the planning process.
Read More
U.S. Trade Deficit Widened in May as Economic Rebound Fueled Demand for Imports - WSJ
WASHINGTON—The U.S. trade deficit widened in May, as American consumers and businesses stepped up purchases of imported products and materials amid a continued economic recovery.
Read More
China Widens Data-Security Probe of U.S.-Listed Tech Companies - WSJ
A unit of China’s cybersecurity regulator launched data-security reviews of apps operated by two U.S.-listed Chinese companies, days after announcing a similar probe into ride-hailing giant Didi Global Inc.
Read More
U.S. Wins International Backing for Global Minimum Tax - WSJ
The U.S. has won international backing for a global minimum rate of tax as part of a wider overhaul of the rules for taxing international companies, a major step toward securing a final agreement on a key element of the Biden administration’s domestic plans for revenue raising and spending.
Read More

week27 | 2021

week27 | 2021

U.S. Budget Deficit to Reach Near-Record $3 Trillion in 2021, CBO Says - Bloomberg
The U.S. will see a $3 trillion budget deficit this year, close to the 2020 record, while the economy will expand notably more than previously forecast, the Congressional Budget Office said as it incorporated the impact of President Joe Biden’s Covid-19 relief program.
Read More
130 countries back global minimum corporate tax of 15% - Reuters
Most of the countries negotiating a global overhaul of cross-border taxation of multinationals have backed plans for new rules on where companies are taxed and a tax rate of at least 15%, they said on Thursday after two days of talks.
Read More
China's Didi to be added to S&P Dow Jones' indexes on July 12 - Yahoo Finance
Didi Global Inc will be added to S&P Dow Jones' global equity indexes on July 12 following the U.S. stock market debut of the Chinese ride-hailing company this week, the index publisher said.
Read More
Unequal access to vaccines skews global recovery, says IMF chief economist - Reuters
The global economy is recovering from the COVID-19 pandemic at an uneven pace due to unequal access to vaccinations, with the Delta variant threatening those countries lacking essential medical supplies, the IMF's chief economist warned on Wednesday.
Read More
Xi Jinping Warns China Won’t Be Bullied as Communist Party Marks 100 Years - WSJ
Chinese leader Xi Jinping marked his ruling Communist Party’s 100th anniversary with rousing appeals for national unity and defiance against foreign pressure.
Read More
Stock Markets Cruise to Records in First Half, but Investors Grow Uneasy - WSJ
Stocks closed out the first half of the year with double-digit percentage gains, powered by an economic recovery that many investors believe is still gathering pace.
Read More
U.S. falls further behind China and Europe in making electric vehicles - MarketWatch
The U.S. has fallen further behind China and Europe in making electric cars, a nonprofit has found.
Read More
China’s Economy Flashes Hints of Weakness - WSJ
BEIJING—Expansion in China’s factory sector slowed in June, as export demand weakened while supply bottlenecks held back production, official data showed Wednesday.
Read More
Biden Weighs New Executive Order Restraining Big Business - WSJ
The Biden administration is developing an executive order directing agencies to strengthen oversight of industries that they perceive to be dominated by a small number of companies, a wide-ranging attempt to rein in big business power across the economy, according to people familiar with the plans.
Read More
Americans’ Hunger for the World’s Goods Drives Global Recovery - WSJ
Pent-up U.S. demand, fed by federal stimulus and pandemic-sparked savings, fuels growth abroad
Read More
China’s central bank to make monetary policy more targeted, flexible - MarketWatch
China’s central bank said in its latest monetary policy meeting that it would make policy more targeted and flexible while keeping the economy’s leverage ratio stable.
Read More
Persistent Advance in Stocks and Commodities Shows Investor Confidence - WSJ
Stocks and commodities are surging together in a way few on Wall Street have ever seen, a sign that demand for riskier investments remains robust.
Read More
White House, Senate Negotiators Try to Keep Infrastructure Deal Alive - WSJ
WASHINGTON—The White House and Senate negotiators sought to keep a bipartisan infrastructure deal on track Sunday after its future was cast into doubt when President Biden made and then withdrew a suggestion that he would veto the proposal if lawmakers failed to pass a separate antipoverty package favored by Democrats.
Read More
China central bank to make monetary policy flexible, targeted, appropriate | Reuters
China will make its monetary policy flexible, targeted and appropriate, while keeping interbank liquidity reasonable, the central bank said on Monday, as authorities seek to consolidate a post-COVID-19 economic recovery.
Read More
Capital-Spending Surge Further Lifts Economic Recovery - WSJ
Business investment is emerging as a powerful source of U.S. economic growth that will likely help sustain the recovery.
Read More

week26 | 2021

week26 | 2021

China listing frenzy in U.S. set to be boosted by Didi IPO - Reuters
Ride-hailing giant Didi Chuxing's planned $4 billion New York debut will supercharge Chinese listings in the United States on the back of an all-time high in the first half the year, despite political sparring between the two countries.
Read More
U.S. Bans Chinese Imports of Solar Panel Materials Tied to Forced Labor - The New York Times
Much of the world’s polysilicon, used to make solar panels, comes from Xinjiang, where the United States has accused China of committing genocide through its repression of Uyghurs.
Read More
Biden, Senators Agree to Roughly $1 Trillion Infrastructure Plan - WSJ
President Biden and a group of 10 centrist senators agreed to a roughly $1 trillion infrastructure plan Thursday, securing a long-sought bipartisan deal that lawmakers and the White House will now attempt to shepherd through Congress alongside a broader package sought by Democrats.
Read More
Biden pushes for high-level meetings with Beijing officials | Financial Times
Engagement with China will be criticised by hawks who had supported president’s hard stance
Read More
Yellen Says U.S. Could Breach Debt Limit Deadline in August if Congress Doesn’t Act - WSJ
WASHINGTON—The U.S. could run out of room to keep paying the government’s bills some time during Congress’s August recess unless lawmakers raise or suspend the federal borrowing limit before then, Treasury Secretary Janet Yellen said Wednesday.
Read More
Top Biden aide calls for US to embrace ‘industrial strategy’ | Financial Times
Brian Deese says that ‘strategic public investment’ in targeted industries will help counter China’s rise
Read More
U.S. Airports to Receive $8 Billion to Help Pay Bills as Travel Recovers - WSJ
U.S. airports are set to receive $8 billion in government grants to help them emerge from the coronavirus pandemic that decimated travel last year.
Read More
Covid-19 Worsens Troubles in an Investor Visa Program - WSJ
Tens of thousands of foreigners have bought their way to U.S. permanent residency through a federal investor visa program.
Read More
Chinese Ambassador to U.S. Cui Tiankai to leave post, return to China - CGTN
Chinese Ambassador to the U.S. Cui Tiankai announced his leave after eight years of service in a statement released on the embassy's website on Monday.
Read More
Amazon and Apple are the most valuable brands in the world — but these Chinese companies are catching up - MarketWatch
Amazon and Apple are the world’s most valuable brands, but watch out — these Chinese e-commerce leaders are slowly but surely rising in the ranks.
Read More
The Skies Are Darkening for Emerging-Market Stocks - WSJ
After a strong start to the year, emerging-market stocks have mostly traded sideways in recent months. There are plenty of reasons to expect their struggles to linger.
Read More
U.S. Economy Is Bouncing Back From Covid-19. Now Foreign Investors Are Rushing In. - WSJ
The extraordinary recovery of the U.S. economy is likely to make the country the world’s top destination for overseas investment this year and next, according to new United Nations projections, with foreign businesses drawn by the prospect of a rapid and sustained rebound in consumer spending and the Biden administration’s multitrillion-dollar infrastructure plans.
Read More
Supply Crunch Risks Extending Into 2022, Stoking Inflation - WSJ
Supply constraints that have challenged businesses and caused shortages of everything from semiconductors to sweatpants are deepening, adding to pressure on inflation and testing the Federal Reserve’s resolve to keep juicing the economy.
Read More
F.C.C. Proposes More Restrictions on Chinese Telecom Equipment - The New York Times
The Federal Communications Commission on Thursday proposed further restrictions on purchases of telecommunications equipment that pose national security risks, strengthening its opposition to Chinese providers of 5G wireless and other technologies.
Read More
Delta Covid-19 Variant Likely to Become Dominant in U.S., CDC Director Says - WSJ
The highly contagious Delta variant could soon become the dominant strain of coronavirus in the U.S., the director of the Centers for Disease Control and Prevention said Friday.
Read More

week25 | 2021

week25 | 2021

CGCC News
Three Trends Shaping the Future of Environmental, Social, and Governance Investing
On June 15th, 2021, China General Chamber of Commerce-USA (CGCC) in partnership with Moody’s ESG Solutions hosted “Three...
Read More
UN climate talks hit a wall over tensions about finance | Financial Times
Weeks of negotiations were overshadowed by cost of meeting demands of Paris agreement
Read More
China Steps Up Antitrust Pressure on Internet Firms - WSJ
SINGAPORE—Chinese regulators have intensified scrutiny of dozens of domestic internet companies for possible antitrust violations, people familiar with the matter said.
Read More
Red-Hot U.S. Economy Drives Global Inflation, Forcing Foreign Banks to Act - WSJ
A booming U.S. economy that is driving inflation higher around the world and pushing up the U.S. dollar is pressing some central banks to increase interest rates, despite still-high levels of Covid-19 infections and incomplete economic recoveries in their own countries.
Read More
China’s Economic Growth Moderates as Consumers Stay Cautious - WSJ
BEIJING—China’s economic growth moderated in May as flattering comparisons to the pandemic-hit economic figures early last year tapered off and Chinese consumers continued to keep a close eye on their pocketbooks.
Read More
China Steps Into Covid-19 Vaccine Void in Asia’s Developing Nations - WSJ
Shots developed by Chinese companies have been a conspicuous part of the rollouts in the first half of 2021, helping Beijing strengthen regional ties
Read More
Fed Pencils In Earlier Interest-Rate Increase - WSJ
WASHINGTON—Federal Reserve officials signaled they expect to raise interest rates by late 2023, sooner than they anticipated in March, as the economy recovers rapidly from the effects of the pandemic and inflation heats up.
Read More
Risks Rise to Both the Fed’s Inflation and Employment Goals - WSJ
Federal Reserve bets supply-driven inflation will be transitory—but that depends on inflation expectations staying low
Read More
Oil likely to hit $100 a barrel, say top commodity traders | Financial Times
Executives point to a slowdown in investment in supplies before demand has peaked
Read More
House Panel Approves China Scientific Competitiveness Bill - WSJ
WASHINGTON—A House committee on Tuesday approved the chamber’s version of legislation aimed at boosting U.S. scientific competitiveness to keep pace with China, adding momentum to the bipartisan effort.
Read More
U.S. Fight Against Chinese 5G Efforts Shifts From Threats to Incentives - WSJ
The U.S. government is ratcheting up pressure on Beijing’s 5G ambitions overseas, offering financial incentives and other enticements to countries willing to shun Chinese-made telecom gear.
Read More
Technology Fills the Gap as Jobs Lag GDP - WSJ
The economy is booming. Why isn’t job growth?
Read More
Back-to-Back Rebukes of China Mark a Turning Point - WSJ
Major democracies rallied together this week to issue extraordinary back-to-back rebukes of Beijing, marking a shift toward collective action and pushing back against President Xi Jinping’s strategies to position China as a global leader.
Read More
Markets Are Leaving Little Room for the Fed to Be Wrong on Inflation - WSJ
Investors have faith in the Fed. Over the past three months consumer prices, excluding volatile food and energy, have risen 2%, equivalent to a shockingly high annual rate of 8.2%. Rather than panic and dump bonds, investors have piled into Treasurys and pushed 10-year yields back down to where they stood in late February. Confidence in the central bank is absolute.
Read More
Fresh Covid-19 Outbreaks in Asia Disrupt Global Shipping, Chip Supply Chain - WSJ
HONG KONG—As Western economies roar back to life, a fresh wave of Covid-19 clusters in Asia—where vaccination campaigns remain in their early stages—is creating new bottlenecks in the global supply chain, threatening to push up prices and weigh on the post-pandemic recovery.
Read More
Biden Tries to Rally G-7 Leaders to Challenge China - WSJ
CARBIS BAY, England—Leaders of the Group of Seven wealthy democracies called on China to respect human rights but stopped short of an outright condemnation of Beijing, as President Biden sought to build momentum for an international coalition to counter Chinese influence in the world.
Read More

week24 | 2021

week24 | 2021

CGCC News
CGCC Foundation Partners with Vanke US and Achilles International for Annual Running Event
From May 21st - May 31st, 2021, CGCC Foundation partnered with Vanke US and Achilles International to host the 2021 Vank...
Read More
CGCC Hosts Webinar on Safe Office Reopening With COVID-19 Vaccination Facts and Tips
On June 9th, 2021, CGCC-USA along with CGCC D.C. and CGCC Houston hosted a webinar titled "Vaccination and Office Reopen...
Read More
China Passes Law to Counter Foreign Sanctions - WSJ
China enacted a new law aimed at countering foreign sanctions, in response to U.S. and European efforts to pressure Beijing on issues spanning human rights, trade and technology.
Read More
Ship Orders Surge as Carriers Rush to Add Capacity - WSJ
Global shipyards that were retrenching and consolidating in a faltering maritime market barely more than a year ago are now flush with new orders, boosted by efforts by shipping lines to add capacity to meet resurgent consumer demand in Western economies.
Read More
Biden’s China Policy Is Emerging—and It Looks a Lot Like Trump’s - WSJ
President Biden’s policy toward China came into sharper focus over the past week, with initiatives that suggest the president plans to retain his predecessor’s tough stance toward Beijing, despite differences in execution.
Read More
China’s environmental goals fire up metals prices - Financial Times
China’s pledge to reduce carbon emissions by the middle of the century will require large cuts in the production of metals, potentially adding further fuel to an already rapid rise in commodity prices as the world emerges from the coronavirus pandemic.
Read More
Pentagon to Speed Up Efforts to Counter China - WSJ
U.S. Defense Secretary Lloyd Austin issued a directive to speed up work to develop the military forces to deter China and address Pentagon difficulties in carrying out a years-old strategy that called Beijing a principal threat.
Read More
Biden Revokes and Replaces Trump Order That Banned TikTok - The New York Times
The new order calls for a broader review of a number of foreign-controlled applications that could pose a security risk to Americans and their data.
Read More
Bitcoin, Ether, Dogecoin Prices Slump as Selloff Picks Up - WSJ
Selling in bitcoin, ether and dogecoin accelerated Tuesday, with concerns about heightened government intervention adding to recent pressure on cryptocurrencies.
Read More
For the Economy, Quitting Never Felt So Good - WSJ
Employers aren’t only struggling to hire new workers, they look as if they are having a hard time hanging onto the workers they already have.
Read More
Senate Approves $250 Billion Bill to Boost Tech Research - WSJ
The Senate on Tuesday approved a bipartisan, $250 billion bill boosting government spending on technology research and development amid rising competition from China and other nations.
Read More
What now for the G7 tax deal on multinationals? - Reuters
The G7’s weekend agreement on a global minimum corporate tax rate and arrangements for taxing multinationals paves the way for a broader deal in the coming weeks that could reshape cross-border taxation for years to come.
Read More
Biden Administration to Outline Measures to Address Supply-Chain Issues - WSJ
The Biden administration is expected to outline new measures Tuesday to address widespread supply-chain issues, with a goal of bringing manufacturing back to the U.S. and diversifying access to foreign-made materials such as rare-earth minerals used for batteries.
Read More
Crypto Frauds Target Investors Hoping to Cash In on Bitcoin Boom - WSJ
Scams are running rampant in the cryptocurrency markets as a huge rally in bitcoin, a lack of regulation and the anonymity of digital money have created a ripe environment for fraudsters.
Read More
What Inflation? Stock Funds Rise Again - WSJ
Nothing has been able to derail the monthly winning streak for mutual-fund investors.
Read More
China’s Tech Clampdown Is Spreading Like Wildfire - WSJ
TAIPEI—The latest salvos in China’s campaign against its tech companies make one thing clear: Jack Ma’s businesses aren’t the only ones under the regulatory microscope.
Read More
Yellen says higher interest rates would be ‘a plus’: report - MarketWatch
U.S. Treasury Secretary Janet Yellen said in an interview Sunday that higher interest rates would be “a plus” for policy makers.
Read More

week23 | 2021

week23 | 2021

CGCC News
Biden's Executive Order on Climate-Related Financial Risk: What's Next for Financial Institutions?
President Biden issued an Executive Order asking the Secretary of the U.S. Department of the Treasury to work with the F...
Read More
U.S. to give ransomware hacks similar priority as terrorism - Reuters
The U.S. Department of Justice is elevating investigations of ransomware attacks to a similar priority as terrorism in the wake of the Colonial Pipeline hack and mounting damage caused by cyber criminals, a senior department official told Reuters.
Read More
Biden proposes 15% corporate minimum tax to win Republican backing of infrastructure plan - Reuters
U.S. President Joe Biden offered to scrap his proposed corporate tax hike during negotiations with Republicans, two sources familiar with the matter said on Thursday, in what would be a major concession by the Democratic president as he works to hammer out an infrastructure deal.
Read More
Biden Expands Blacklist of Chinese Companies Banned From U.S. Investment - WSJ
President Biden expanded a prohibition on Americans investing in Chinese companies with purported links to China’s military, adding more businesses to a blacklist that has angered Beijing and caused consternation among investors.
Read More
A Rising Yuan Sets the Stage for More China-U.S. Currency Friction - WSJ
The People’s Bank of China is getting restive about the strength of the Chinese yuan. That is something to keep an eye on: Any attempt to prevent it from rallying further would provide fresh fuel for a clash between Beijing and Washington over currency manipulation.
Read More
China, U. S., Restart Normal Communications in Trade, Economic Issues, China Official Says - MarketWatch
China and the U.S. have started normal communications on economic and trade issues, said Gao Feng, a spokesman for China's Ministry of Commerce.
Read More
The Economic Recovery Is Here. It’s Unlike Anything You’ve Seen. - WSJ
Households saved cash and banks amassed capital, but supply shortages are popping up and some employers can’t find workers
Read More
Fed's Brainard: more 'progress' on recovery ahead, though still far from goals - Reuters
The United States is getting closer to the Fed’s maximum employment and 2% inflation goals, Fed Governor Lael Brainard said on Tuesday, but the depth of the remaining problem still requires the central bank to stick to its super-easy monetary policy until more progress is seen.
Read More
Chinese Factories Delay New Orders as Costs Rise, Risking Global Supply Shortages - WSJ
Buffeted by rising costs, some Chinese manufacturers are refusing to accept new orders or are even considering shutting down operations temporarily—moves that could put more strain on global supply chains and cause more inflation.
Read More
Janet Yellen and China’s Liu He Speak by Video Call - WSJ
China’s top trade negotiator, Vice Premier Liu He, spoke with U.S. Treasury Secretary Janet Yellen via videoconference in what the U.S. termed an introductory meeting.
Read More
China’s Factory Activity Slipped in May, but Consumer Spending Held Up - WSJ
BEIJING—An official gauge of Chinese factory activity slipped in May on weaker export demand and higher commodity prices, while the country’s nonmanufacturing sector was bolstered by stronger construction and holiday spending.
Read More
U.S. Manufacturers Blame Tariffs for Swelling Inflation - WSJ
WASHINGTON—Economists and policy makers are debating whether stimulus spending and easy monetary policy are fueling inflation. Many businesses say there is another culprit that should share the blame: import tariffs.
Read More
OECD Sees Strongest Global Economic Expansion for Almost Half a Century - WSJ
The global economy is set to grow at its fastest pace in almost half a century this year, boosted by aggressive vaccination programs and the U.S. government’s latest fiscal stimulus package, the Organization for Economic Cooperation and Development said Monday.
Read More

week22 | 2021

week22 | 2021

U.S.-China Phase 1 Trade Deal Could Set Rules for Commerce - The New York Times
Last year’s deal could set the rules for global commerce for years to come, leaving the door open to lavish Chinese subsidies and unilateral American tariffs.
Read More
U.S. Senate advances sweeping tech bill taking aim at China - Reuters
The U.S. Senate on Thursday advanced a sweeping package of legislation intended to boost the country’s ability to compete with Chinese technology, as Congress increasingly seeks to take a tough line against Beijing.
Read More
Biden calls for higher wages as he warns of ‘bumps in the road’ to recovery - Financial Times
Joe Biden has called for corporate America to raise wages for workers as rising inflation and supply chain bottlenecks create “bumps in the road” for the US economic recovery.
Read More
The Coming U.S.-China Race Over 5G in Cars - WSJ
It has been more than two years since people started being able to talk to each other over 5G networks. Now cars can use 5G technology to talk to each other, too.
Read More
Chinese business under pressure from rising commodity prices | Financial Times
Authorities warn of ‘uneven’ recovery as industrial growth continues but consumer confidence lags behind
Read More
U.S., China Trade Officials Hold First Virtual Meeting - WSJ
WASHINGTON—U.S. Trade Representative Katherine Tai had a candid exchange on trade issues Wednesday night with her Chinese counterpart, Vice Premier Liu He, Ms. Tai’s office said.
Read More
Chinese Shoppers, Stuck in China, Revive Local Malls - WSJ
With travel restrictions keeping people at home, many are spending at local shops with cash they might otherwise have dropped abroad.
Read More
Sweeping bill to counter China introduced in U.S. House - Reuters
U.S. efforts to address competition with China progressed on Tuesday when the chairman of the House of Representatives Foreign Affairs Committee introduced sweeping legislation to boost economic competitiveness and push Beijing on human rights.
Read More
Analysis: Floundering dollar falls to bottom of global currency heap - Reuters
A dovish Federal Reserve and accelerating growth abroad are weighing on the dollar, a move that could be a boon for stocks and other assets.
Read More
China’s renminbi hits three-year high against dollar | Financial Times
Strength of currency poses challenge as Beijing tries to maintain economic growth momentum
Read More
Are Vaccinated Americans Powering the Economy? Not Yet, Data Show - WSJ
Vaccinated Americans are increasingly going out this spring—but not as much as their unvaccinated counterparts.
Read More
China and US look to rekindle Paris bond to reach net zero | Financial Times
Negotiations resume after Trump hiatus but relations beyond climate issues remain rocky
Read More
Senate aims to pass bill on China and chips by month’s end - MarketWatch
The Democratic-run Senate, with some Republican support, is working toward passing legislation this month that targets China and aims to support the American semiconductor industry, in a fresh sign of bipartisan agreement on how to approach Beijing and a key U.S. sector.
Read More
Green Finance Goes Mainstream, Lining Up Trillions Behind Global Energy Transition - WSJ
After years of intermittent excitement and fizzled expectations, environmental-oriented investing is no longer just a niche interest.
Read More
Biden presents infrastructure counteroffer. But Republicans aren't impressed.
The move comes after a Tuesday meeting with Republicans and the White House yielded little progress. Infrastructure week is at risk of becoming a national punchline once more.
Read More

week21 | 2021

week21 | 2021

CGCC News
Spurring for Growth: A Conversation About Economic Outlook, Digitalization and The Evolving Macro Landscape
On May 18th, 2021, CGCC hosted a webinar titled "Spurring for Growth: A Conversation About Economic Outlook, Digitalizat...
Read More
Fed Signals Eventual Shift From Easy-Money Pandemic Policies - WSJ
The Federal Reserve has begun to telegraph an eventual shift away from the easy-money policies implemented during the pandemic as evidence builds of a robust economic recovery and mounting inflation.
Read More
Commerce chief says U.S. could help boost chips transparency - Reuters
U.S. Commerce Secretary Gina Raimondo said Thursday she held meetings with three dozen senior industry leaders on a semiconductor chip shortage and said the United States could help boost transparency in the market.
Read More
U.S. Treasury seeks reporting of cryptocurrency transfers, doubling of IRS workforce - Reuters
The Biden administration's tax enforcement proposal would require that cryptocurrency transfers over $10,000 be reported to the Internal Revenue Service and would more than double the IRS workforce over a decade, the U.S. Treasury said on Thursday.
Read More
Why China crypto crackdown sparked a bitcoin crash — and could feed a backlash - MarketWatch
A move by Chinese regulators early Wednesday to restrict crypto activity may have helped spark a broad selloff for digital assets. But the crackdown, which appears aimed at bolstering the country’s own digital yuan efforts, could backfire, says one analyst.
Read More
Shipments Delayed: Ocean Carrier Shipping Times Surge in Supply-Chain Crunch - WSJ
Cargo ships have been delivering their loads later than ever this year, adding to the supply-chain woes that are undercutting efforts by retailers and manufacturers to capitalize on resurgent economic demand.
Read More
Markets Decline Globally, and Fed Hints at a Policy Review - WSJ
U.S. stocks, commodities, overseas shares and bitcoin dropped in turbulent trading Wednesday as investors’ risk appetite diminished and the Federal Reserve signaled an eventual shift away from its easy-money pandemic policies.
Read More
Bitcoin tumbles further below $40,000 after China issues crypto warning - MarketWatch
The price of bitcoin tumbled below $40,000 for the first time in months and other cryptocurrencies were pressured on Wednesday, after the People’s Bank of China apparently warned against using digital coins as payment.
Read More
Consumer Prices Jumped as Economic Recovery Picked Up - WSJ
Consumer prices surged in April by the most in any 12-month period since 2008, shaking investors although the data partly reflect a recovery that is picking up steam as the Covid-19 pandemic eases.
Read More
Yellen Tells Business Higher Taxes are Needed - US News
Treasury Secretary Janet Yellen on Tuesday told America's business leaders they need to pay more in corporate taxes to fund President Joe Biden's $2.3 trillion infrastructure plan.
Read More
Cloud becomes new front line between China and the west | Financial Times
In late 2020, Saudi Telecom, the Gulf state’s largest telecoms group, announced a partnership with China’s Alibaba Cloud to help the kingdom build its cloud computing infrastructure.
Read More
U.S. to Increase Covid-19 Vaccine Exports Amid Global Pressure - WSJ
WASHINGTON—The Biden administration moved to sharply ramp up Covid-19 vaccine shipments to other countries, following calls for the U.S. to bolster efforts to curb the coronavirus globally as it rages unchecked in developing nations.
Read More
Energy groups must stop new oil and gas projects to reach net zero by 2050, IEA says | Financial Times
Radical move would have to be compensated by huge investment in clean energy
Read More
Central Banks Jump Into Climate-Change Policy Fray - WSJ
Central banks, the most powerful financial institutions in the world, want to become the guardians of the environment as well.
Read More
IPO Market Faces a Critical Juncture - WSJ
The U.S. IPO market, unstoppable for nearly a year, has hit a speed bump.
Read More
China’s Economic Recovery Slowed in April - WSJ
BEIJING—China’s economic activity grew at a slower pace in April as retail sales missed expectations, complicating the picture of a steady and balanced recovery in the world’s second-largest economy.
Read More

week20 | 2021

week20 | 2021

CGCC News
US-China Market Watch: Bipartisan Bills Target China, Tencent and Didi Fined, China Box Office
In East West Bank's latest #USChina business and industry news round-up: Chinese antitrust regulators fine several of it...
Read More
Empty Lots, Angry Customers: Chip Crisis Throws Wrench Into Car Business - WSJ
Car makers have cut production of 1.2 million vehicles in North America because of a shortage of computer chips, losing sales amid high demand
Read More
Audit Watchdog Proposes Framework to Help Implement New Trading Ban - WSJ
The U.S. audit watchdog has proposed a new framework that would help it implement a law that bans foreign companies from the country’s exchanges if their audits haven’t been inspected by American regulators.
Read More
China’s People Problem Swings From Too Many to a ‘Decline That Sees No End’ - WSJ
The results of a once-a-decade census present China and its president, Xi Jinping, with a stark choice: Unwind party controls on family planning and immigration, or stick with the policies and risk declining economic growth.
Read More
Pentagon delays report on Chinese companies with military ties - Financial Times
The Pentagon has failed to give Congress a legally required report on Chinese companies with military ties, as US president Joe Biden neared a decision on whether Americans could invest in such groups.
Read More
Biden sees infrastructure compromise, despite Republican 'red line' on taxes - Reuters
U.S. President Joe Biden said on Wednesday he sees room for a compromise on his proposal for trillions of dollars in infrastructure spending after meeting with Republican leaders but will move forward without the opposition party if necessary.
Read More
China Weighs New Economic Envoy to U.S. - WSJ
Beijing is considering whether to replace Vice Premier Liu He as its top economic envoy with Washington, according to officials with knowledge of the matter, a decision that Biden administration officials say will indicate the depth of China’s interest in economic cooperation.
Read More
Oil Glut Returns to Near Pre-Pandemic Levels - WSJ
The oil supply glut that built up after the pandemic forced producing countries to slash output has almost returned to normal levels, the International Energy Agency said Wednesday.
Read More
Surge in China’s Factory-Gate Prices Adds to Inflation Worries - WSJ
HONG KONG—China’s factory-gate prices jumped by the most in 3½ years in April, driven by surging commodities prices, raising concerns that inflationary pressures could spread globally.
Read More
U.S. Tariffs Drive Drop in Chinese Imports - WSJ
WASHINGTON—U.S. tariffs have led to a sharp decline in Chinese imports and significant changes in the types of goods Americans buy from China, new data show, with purchases of telecommunications gear, furniture, apparel and other goods shifting to other countries.
Read More
Biden says unemployed Americans offered a job must take it or lose benefits - Reuters
U.S. President Joe Biden on Monday defended himself against critics who say expanded unemployment benefits offered in the COVID relief bill passed in March are keeping Americans from taking new jobs.
Read More
China’s population grows at slowest rate in decades - Financial Times
China’s population grew at its slowest rate in decades in the 10 years to 2020, according to census data released on Tuesday, which also showed that births declined sharply last year.
Read More
FDA Authorizes Pfizer-BioNTech Covid-19 Vaccine for 12- to 15-Year-Olds - WSJ
U.S. health regulators have for the first time cleared a Covid-19 vaccine’s use in children, paving the way for many to be immunized before summer camps and the start of the next school year.
Read More
Biden Administration to Name Thea Lee to Top Labor Department Post - WSJ
The Biden administration plans to name Thea Lee, a former AFL-CIO trade official, to head the Labor Department’s international affairs division, according to people familiar with the appointment.
Read More
Chinese Consumers Are Opening Their Wallets Again - WSJ
BEIJING—China’s post-coronavirus recovery has been strong but uneven. A burst of data released Friday, however, suggests the world’s second-largest economy is rebalancing as consumer spending—the weak link so far in the recovery—picks up steam.
Read More
Covid-19 Restriction Guidance Could Ease as More Americans Get Vaccinated - WSJ
WASHINGTON—Biden administration officials said Sunday that the U.S. is entering a new phase of the pandemic in which many vaccinated Americans can begin returning to normal activities and signaled that the federal government will further relax mask-wearing recommendations as more people get shots.
Read More

week19 | 2021

week19 | 2021

CGCC News
IPO Q1 2021: Why record-breaking quarter may spur candidates to act
The global IPO market started 2021 on a high, breaking records. IPO candidates should consider acting while the transact...
Read More
Supporting “Stop AAPI Hate” Efforts: As an Individual, a Company, and Community as a Whole
On April 23rd, 2021, China General Chamber of Commerce - USA (CGCC), and CGCC Foundation joined by CGCC-Chicago, D.C., H...
Read More
Fed Says Covid Is Major Financial Risk, Asset Prices Vulnerable to ‘Significant Declines’ - WSJ
The Covid-19 pandemic remains one of the biggest near-term risks to the stability of the financial system, the Federal Reserve said, while noting that asset prices are vulnerable to significant declines if investor sentiment shifts.
Read More
Millions Are Unemployed. Why Can’t Companies Find Workers? - WSJ
In a red-hot economy coming out of a pandemic and lockdowns, with unemployment still far higher than it was pre-Covid, the country is in a striking predicament. Businesses can’t find enough people to hire.
Read More
Top US trade envoy signals intention to meet Chinese counterpart soon - Financial Times
Katherine Tai, US trade representative, said she expected to meet her Chinese counterpart soon, in the first sign that the Biden administration was preparing to talk to Beijing about trade tensions.
Read More
Consumer Demand Drove U.S. Imports to Record High in March - WSJ
WASHINGTON—Consumers and a fresh round of stimulus money pushed demand for U.S. imported goods to a record high in March, further expanding the trade deficit.
Read More
Investors see risk of ‘significant overshoot’ of Fed’s inflation target for first time in years, says BofA - MarketWatch
Investors are pricing in risks of a “significant overshoot” of the Federal Reserve’s 2% inflation target for the first time in several years, according to economists at Bank of America Corp.
Read More
U.S. Backs Waiver of Intellectual Property Protection for Covid-19 Vaccines - WSJ
WASHINGTON—The U.S. said Wednesday it would support the temporary waiver of intellectual property provisions to allow developing nations to produce Covid-19 vaccines created by pharmaceutical companies, citing an urgent need to stem the pandemic.
Read More
Yellen Says She Isn’t Predicting Higher Interest Rates - WSJ
Treasury Secretary Janet Yellen said Tuesday she is neither predicting nor recommending that the Federal Reserve raise interest rates as a result of President Biden’s spending plans, walking back her comments earlier in the day that rates might need to rise to keep the economy from overheating.
Read More
U.S. trade chief Tai says recovery depends on addressing global vaccine inequity - Reuters
U.S. Trade Representative Katherine Tai said on Tuesday that making vaccines more widely available throughout the world is needed to end the coronavirus pandemic and foster economic recovery.
Read More
Blinken rejects claims of ‘cold war’ between US and China - Financial Times
America’s top diplomat Antony Blinken has rejected claims the US is entering a cold war with China during a visit to London to discuss with G7 counterparts how best to respond to the challenges posed by Beijing.
Read More
EPA Proposes Rules to Curb Coolant Emissions From Air Conditioners and Refrigerators - WSJ
WASHINGTON—The U.S. Environmental Protection Agency is proposing rules to reduce the use of coolants from air conditioners and refrigerators that are potent greenhouse gases, fulfilling new mandates from Congress with regulations favored by large portions of U.S. industry, according to the agency.
Read More
U.S. Says China Must Do More to Protect Intellectual Property - WSJ
WASHINGTON—The U.S. criticized China’s protection of intellectual property on Friday, saying that measures Beijing adopted—some to comply with the 2020 U.S.-China trade deal—don’t go far enough.
Read More
For China’s Small Businesses, Life Is Still Far From Normal - WSJ
HONG KONG—Smaller businesses are proving to be a weak link in China’s economic recovery as they struggle to fully bounce back from the effects of Covid-19.
Read More
China’s Economic Recovery From Covid-19 Shows Signs of Slowing - WSJ
BEIJING—Official gauges across China’s economy fell short of expectations in April, hit in part by semiconductor shortages, suggesting that the economy’s strong pandemic bounceback is starting to lose some momentum more than a year into the recovery.
Read More
Stocks Fall, But Hold On to Monthly Gains - WSJ
U.S. stocks slipped Friday but posted monthly gains after a streak of strong earnings reports.
Read More
The Chip Shortage Is Far-Reaching - WSJ
The global chip shortage hobbled auto makers world-wide. Now, other industries are feeling the squeeze.
Read More

week18 | 2021

week18 | 2021

CGCC News
CGCC and Jones Day Host Successful Legal and Policy Series Webinar
On Thursday, April 29, 2021, China General Chamber of Commerce-USA (CGCC), as part of its Legal and Policy Series, hoste...
Read More
Congratulations to the CGCC Members Featured on the 2021 TIME 100 Most Influential Companies List
On April 27th, 2021, TIME Magazine published its first-ever list of TIME100 Most Influential Companies. The list aims to...
Read More
From top to bottom: creating a more diverse US workplace
Multinational companies are under increasing legal and social pressure to increase their representation of women and min...
Read More
Future of Money: Crypto, CBDCs and 21st Century Cash
We live in a digital age. How we communicate, shop, entertain ourselves, take care of our health and order groceries, al...
Read More
How Biden’s Tax Plan Would Affect Investors - WSJ
President’s proposal calls for a near doubling of the capital-gains tax rate; here are some answers to investors’ questions
Read More
Fed Holds Steady on Interest Rates, Bond Purchases - WSJ
The Federal Reserve held its key interest rate near zero and said it plans to continue supporting the economic recovery, while acknowledging recent progress in growth and employment.
Read More
U.S. Economy Grew Robustly in First Quarter - WSJ
A burst of growth put the U.S. economy just a shave below its pre-pandemic size in the first quarter, extending what is shaping up to be a rapid, consumer-driven recovery this year.
Read More
China’s Imports of Commodities Drive a Boom in Dry-Bulk Shipping - WSJ
China’s surging imports of metals, grain and other commodities are providing a boost to a bulk-shipping sector at the center of global industrial production.
Read More
Fed Holds Steady on Interest Rates, Bond Purchases - WSJ
WASHINGTON—The Federal Reserve held its key interest rate near zero and said it plans to continue supporting the economic recovery, while acknowledging recent progress in growth and employment.
Read More
Biden Pushes Broad Economic Agenda in Speech to Congress - WSJ
WASHINGTON—President Biden declared “America is ready for a takeoff” as he pitched a sweeping vision for greater government investment to boost the economy, including a $1.8 trillion proposal for new spending on child care, education and paid leave.
Read More
Saying Au Revoir to the Most Successful Policy in Federal Reserve History - WSJ
You may have missed it, but last week major central banks announced the coming end of a facility that provided hundreds of billions of dollars in international swaps, and prevented a calamitous dollar funding crisis last spring.
Read More
U.S. eases COVID-19 restrictions on Chinese students - Reuters
The Biden administration on Tuesday said it was easing restrictions on Chinese and other students travelling to the United States this fall, potentially helping colleges whose enrollments declined during the coronavirus pandemic.
Read More
Asian-American Professionals Push for Visibility at Work - WSJ
Since George Floyd’s death, issues of race have come to the fore in many workplaces; now, after anti-Asian attacks, more Asian employees say their needs should be heard, too
Read More
China tightens credit conditions in bid to balance growth and debt | Financial Times
Policymakers seek to shore up patchy economic recovery while avoiding the risks of overheating
Read More
China stock sales in US surge to record despite delisting threat | Financial Times
Funds raised by Chinese groups on US equity markets surged 440 per cent in the opening months of 2021, as the allure of sky-high Wall Street valuations outweighed the threat of forced delistings.
Read More
For Biden’s Next 100 Days, the World Is Preparing Tests - WSJ
The first 100 days of Joe Biden’s presidency, a milestone he will reach this week, were largely about fighting the coronavirus and stimulating the domestic economy.
Read More
States Restart Johnson & Johnson Covid-19 Vaccinations - WSJ
Health officials around the country resumed offering Johnson & Johnson’s JNJ 0.21% Covid-19 vaccine this weekend after getting a green light from federal regulators on Friday.
Read More
Wild Market Ride Lifts Everything From Lumber to Stocks to Bitcoin - WSJ
Markets for everything from home-building materials to bitcoin to stocks are soaring, stirring up fresh fears that global markets are in a bubble.
Read More
West Looks Past Covid-19 and Sees Economic Resurgence - WSJ
After the worst year for the global economy since the Great Depression, the U.S. is set to lead a vigorous rebound in the West as mass vaccination against Covid-19 propels a return to more or less normal life.
Read More

week17 | 2021

week17 | 2021

CGCC News
Congress, Trade and Chinese FDI: A conversation with a bipartisan team of Former Members of Congress
On April 20th, 2021, China General Chamber of Commerce - USA (CGCC) and the Former Members of Congress (FMC) association...
Read More
Working Together to Underscore the Importance of International Trade & Helping Businesses Grow
2021 marks the fifth year in a row China General Chamber of Commerce-USA will serve as an official partner organization ...
Read More
Allied Behavior: Turning Allyship into Action
Kimberly Doud of Littler’s Orlando office, Chelsea Lewis of Littler's Miami office, and Kameron Miller of Littler's Char...
Read More
ND Paper - New Recycled Pulping Operation launches at Old Town Division
Old Town, ME – April 22, 2021—In commemoration of Earth Day, ND Paper is excited to announce the launch of a new recycle...
Read More
Delaware Prosperity Partnership launches LiveLoveDelaware.com
WILMINGTON, Del. (April 19, 2021) — LiveLoveDelaware.com, a new website launched by CGCC member Delaware Prosperity Part...
Read More
GOP Senators Release Outline of $568 Billion Infrastructure Plan - WSJ
A group of Senate Republicans released the outline for a $568 billion infrastructure plan, putting out a GOP alternative to President Biden’s $2.3 trillion plan as lawmakers seek a bipartisan compromise on the issue.
Read More
Stocks Fall on Worries About Capital-Gains Taxes - WSJ
Stocks dropped on news reports that President Biden is considering nearly doubling capital-gains taxes on the wealthy.
Read More
Senate passes bipartisan COVID hate crimes bill to protect AAPI community - PBS NewsHour
Thursday, the U.S. Senate passed a bipartisan COVID-19 hate crimes bill, responding to attacks on Asian Americans and Pacific Islanders.
Read More
Economic recovery masks the dangers of a divided world | Financial Times
Nothing would be more foolish than policymakers in rich countries turning away from global challenges
Read More
US to propose emissions cut of at least 50% by end of decade | Financial Times
Goal relative to 2005 levels announced as Biden hosts 40 world leaders at climate summit
Read More
China’s Green-Power Funding Is Blowing in the Wind - WSJ
China’s renewable energy has grown by leaps and bounds in recent years, but that has also come with a price: unfunded liabilities. Unless Beijing fixes the problem, green-power stocks—and China’s towering clean-energy ambitions for the next five years—may remain grounded.
Read More
A Global Tipping Point for Reining In Tech Has Arrived - The New York Times
Never before have so many countries, including China, moved with such vigor at the same time to limit the power of a single industry.
Read More
Foreign Buying of Chinese Government Bonds Stalls - WSJ
A huge run-up in foreign holdings of Chinese government bonds has stalled, with international investors hitting pause on their purchases as China’s interest-rate advantage over the U.S. has shrunk.
Read More
China, U.S. Close to Naming New Ambassadors as Rivalry Grows - WSJ
Beijing plans to appoint Qin Gang, who has accompanied Xi on overseas trips, and Washington is expected to name R. Nicholas Burns, a veteran diplomat.
Read More
Tech Shares Lead Major Stock Indexes Lower - WSJ
U.S. stocks slipped Monday, dragged down by losses across everything from technology shares to retail stocks.
Read More
US and China pledge joint action on climate change despite strained ties | Financial Times
Two sides to discuss steps to keep Paris Agreement targets ‘within reach’
Read More
US vaccination progress sparks rebound in jobs and spending | Financial Times
New jobless claims hit pandemic-era low as retail sales jump the most in 10 months
Read More
J&J Covid-19 Vaccine Pause Driven by Risk of Mistreating Blood Clots - WSJ
U.S. health authorities came close to simply warning about a blood-clotting risk from Johnson & Johnson’s JNJ 1.15% Covid-19 vaccine, but decided to recommend pausing use out of concern doctors would improperly treat the condition, people familiar with the matter said.
Read More
China Growth Numbers Betray Waning Momentum - WSJ
BEIJING—China reported record year-over-year growth of 18.3% in the first three months of 2021.
Read More
U.S. and China Discuss Enhancing Beijing’s Climate Commitments - WSJ
The U.S. and China, the world’s two biggest emitters of greenhouse gases, said they would work together to set more ambitious goals to tackle climate change, a rare statement of agreement at a time of heightened bilateral tensions.
Read More

week16 | 2021

week16 | 2021

CGCC News
What to Expect From Recruiters - Comrise Survey
In April 2021, CGCC member Comrise shared a survey with job seekers, asking for their expectations for the recruitment a...
Read More
Inc. Magazine Ranks Brio Benefit Consulting One Of Metro New York City’s Fast-Growing Companies
NEW YORK, NY – Inc. magazine has named Brio Benefit Consulting to its second annual Inc. 5000 Regionals: New York City M...
Read More
Central Bank Will Begin Reducing Bond Purchases ‘Well Before’ Raising Interest Rates, Powell Says - WSJ
Federal Reserve Chairman Jerome Powell said Wednesday that the central bank will begin to slow the pace of its bond purchases “well before” raising interest rates.
Read More
Sales Boom May Be More Than Fleeting Flurry - WSJ
The big question on the economy is no longer whether demand is going to boom in the months ahead, but how long that boom will last. The answer will dictate everything from how quickly the job market recovers to how high inflation goes to how soon the Federal Reserve begins tightening policy. It will also influence which investments will make money and which will not.
Read More
China's economy grows 18.3% in post-Covid comeback - BBC News
China's economy grew a record 18.3% in the first quarter of 2021 compared to the same quarter last year. It's the biggest jump in gross domestic product (GDP) since China started keeping quarterly records in 1992.
Read More
China’s Economy Is Still Dependent on Housing and Exports - WSJ
The world’s second-largest economy kept chugging along in early 2021 with the help of some familiar drivers: housing and exports. A dip in the latter last month will probably prove temporary. But increasing regulatory ire could weigh on China’s housing market—and industrial metal prices—in the second half. Aside from housing, durable signs of strong domestic demand remain relatively scarce.
Read More
In Battle With U.S. for Global Sway, China Showers Money on Europe’s Neglected Areas - WSJ
DUISBURG, Germany—The struggle between the U.S. and China for global influence has come to Europe’s gritty industrial backwaters, where China is steadily co-opting local economies starting with their railroads.
Read More
Import prices jump 1.2% in March and add to rising U.S. inflation
The cost of imports surged in March for the fourth month in a row and added to growing inflationary pressures in the U.S., as a resurgent economy spawns strong demand for a host of goods ranging from lumber to computer chips to new cars.
Read More
U.S. issues subpoena to Chinese company as part of supply chain review - Reuters
The U.S. Commerce Department said on Tuesday it had issued a subpoena to an unnamed Chinese company as part of the Biden administration’s review of its supply chain for any risks posed to U.S. national security.
Read More
Inflation Accelerated in March Due to Strengthening Economy, Rising Energy Prices - WSJ
U.S. consumer prices rose sharply in March as the economic recovery gained momentum, marking the start of an expected monthslong pickup in inflation pressures.
Read More
U.S. Climate Envoy to Arrive in Shanghai for Meeting With Chinese Counterpart - WSJ
U.S. special climate envoy John Kerry is set to become the first Biden administration official to visit China, arriving in Shanghai for three days of meetings with senior officials overseeing climate and foreign policy, according to people familiar with the matter.
Read More
Jay Powell says US economy is at an ‘inflection point’ | Financial Times
Fed chair sees hiring and growth set to accelerate but a new Covid-19 surge could still derail recovery
Read More
Raw Materials Prices Have Surged. Corporate Profits Are Likely Next. - WSJ
Prices are surging for raw materials, leading to higher costs for companies from home builders to clothing makers.
Read More
China’s Message to America: We’re an Equal Now - WSJ
President Xi is confronting the Biden administration with a new world view, that Beijing’s decades of not challenging the U.S. as global leader are over
Read More
U.S. Faces Uphill Climb to Rival China’s Rare-Earth Magnet Industry - WSJ
Businesses and governments across the West are gearing up to counter China’s dominance in a key component of modern technology: the magnet.
Read More
China’s Covid-19 Vaccination Campaign Gets Off to Slow Start - WSJ
HONG KONG—A year after Covid-19 swept through China, the virus is under control. Now authorities have to motivate a population that feels little urgency to get vaccinated by using a mix of social pressure, incentives, education and coercion.
Read More
With Economy Poised for Best Growth Since 1983, Inflation Lurks - WSJ
Ronald Reagan was in the White House, “Return of the Jedi” was in theaters, and economic growth hit an astonishing 7.9%.
Read More

week15 | 2021

week15 | 2021

CGCC News
US-China Market Watch: Alaska Trade Meeting, Digital Yuan, Alibaba to Sell Off Media Assets
East West Bank's monthly roundup of the latest US-China business and industry news.
Read More
After Covid-19, Office Leases Largely Come With Bargain Rates - WSJ
Big companies are making plans to stick with city-center office buildings, but they are cutting back on space and driving down rent prices for years to come, according to an analysis of U.S. office leasing trends prepared for The Wall Street Journal.
Read More
Investors Sour on Emerging Markets as U.S. Prospects Brighten - WSJ
Pressure is building in some emerging markets as brightening U.S. growth prospects prompt investors to pull capital out of economies that look less robust.
Read More
Biden should summon the courage to reverse course on China | Financial Times
Donald Trump’s hardline policies served only to strengthen Xi Jinping and the communist system
Read More
IMF Lifts Global Growth Forecast for 2021 to 6% - WSJ
WASHINGTON—The global economy is likely to expand this year at the fastest pace in at least four decades as vaccine rollouts accelerate and advanced economies spend aggressively to counter the Covid-19 pandemic and related lockdowns, the International Monetary Fund said Tuesday.
Read More
G-20 to Seek Agreement on Global Minimum Tax Rate by Mid-2021 - WSJ
Finance ministers from the Group of 20 leading economies Wednesday said they hope to agree on a minimum tax rate for company profits by the middle of this year as part of a wider overhaul of the way international businesses are taxed.
Read More
Violence Spurs Many Asian-Americans to Activism for First Time - WSJ
Atlanta spa shooting deaths and rising reports of hate crimes during pandemic have pulled in families who had avoided discussing race
Read More
China's New Rules Worry Foreign Banks and Companies - The New York Times
New rules, aimed at taming big money flows and possibly controlling the Chinese currency, could give domestic rivals a competitive edge and make international firms more dependent on local lenders.
Read More
White-Hot Stock Rally Masks Mammoth Value Swings - WSJ
Explosive moves in individual stocks and sectors are underpinning a white-hot streak in the market.
Read More
Janet Yellen calls for global minimum corporate tax | Financial Times
Treasury secretary seeks to reassert US leadership in international economic policy
Read More
U.S. Stocks Climb to Records on Signs of an Economic Rebound - WSJ
The Dow Jones Industrial Average and S&P 500 surged to records on Monday as a strong jobs report and data showing a rebound in the services sector cheered investors hoping for a robust economic recovery.
Read More
China Creates Its Own Digital Currency, a First for Major Economy - WSJ
A cyber yuan stands to give Beijing power to track spending in real time, plus money that isn’t linked to the dollar-dominated global financial system
Read More
The Housing Market Is Crazier Than It’s Been Since 2006 - WSJ
Less than a day after real-estate agent Andrea White listed a three-bedroom home for sale in Sacramento, Calif., in March, she received an all-cash offer. The buyer—who had not even seen the home in person—was ready to pay $520,000, Ms. White said. That was $21,000 above the asking price and 37% more than the seller had paid for the ranch-style home only two years ago.
Read More
What the U.S. Can Learn From China’s Infatuation With Infrastructure - WSJ
Beijing’s building boom inspires awe in even the staunchest U.S. critics, but emulating it is a different story
Read More
Nations Begin to Shape Post-Covid-19 Economy Amid Diverging Fortunes - WSJ
WASHINGTON—The world’s top economic officials plan to focus at a virtual meeting this week on the prospect of new Covid-19 variants and shutdowns undermining the global rebound, while weighing measures to prevent lasting damage to the poorest and most vulnerable populations.
Read More

week14 | 2021

week14 | 2021

CGCC News
What the Financial Services Industry Can Expect From State Attorneys General in a Biden Administration
State attorneys general have become significant players in the financial world, using a number of special investigative ...
Read More
Combating Anti-Asian Hate Resources
Throughout the past year, our communities in the United States and elsewhere in the world have faced extraordinary chall...
Read More
U.S. Home Prices Rise at Fastest Pace in 15 Years - WSJ
U.S. home prices are rising at the fastest pace in 15 years, reflecting how fiercely buyers are competing for a limited supply of homes in nearly every corner of the country.
Read More
Even Suez Canal Blockage Can’t Hold Back Red-Hot Global Trade - WSJ
Factories around the world are struggling to keep up with soaring demand for all types of goods as the global economic recovery from the pandemic accelerates.
Read More
拜登的2.3万亿美元基建计划将惠及哪些行业? - 华尔街日报
美国总统拜登的2.3万亿美元基建计划涉及一系列美国企业和行业,其中不仅有汽车生产商、半导体制造商和光纤企业,也包括可再生能源生产商、药品开发商、房屋建筑商和建筑公司。
Read More
China’s currency set for worst month since US trade war | Financial Times
Investors fear country’s post-Covid economic bounce will prompt withdrawal of stimulus
Read More
Biden Calls for $50 Billion to Boost U.S. Chip Industry - WSJ
WASHINGTON—President Biden’s expansive infrastructure proposal includes $50 billion for the American semiconductor industry, whose lobbying efforts have gained momentum amid a global chip shortage and fears that China might be overtaking the U.S. in a critical technology.
Read More
China’s Consumers Boost Its Economic Recovery - WSJ
BEIJING—China’s economic recovery picked up a surprising amount of steam in March, boosted by strong domestic consumption and unquenchable foreign demand for Chinese-made goods.
Read More
Biden Says U.S. Adds New Covid-19 Vaccine Sites, Warns Against Complacency - WSJ
President Biden said Monday his administration is adding new vaccine sites, as he and other officials asked Americans to keep taking precautions and the head of the Centers for Disease Control and Prevention described a feeling of “impending doom” with Covid-19 cases rising recently.
Read More
Man Is Arrested After Brutal Attack on Filipino Woman in N.Y.C. - The New York Times
Even as reports of anti-Asian hate crimes have escalated in recent weeks, the video released by police officials on Monday evening touched a fresh nerve. The sheer brazenness of the attack — combined with the seeming indifference of the bystanders — caused another wave of fear for many Asian-Americans already worn down by a steady drumbeat of assaults.
Read More
President Biden will unveil his $2 trillion infrastructure plan today – CNBC
The plan Biden will outline Wednesday will include roughly $2 trillion in spending over eight years and would raise the corporate tax rate to 28% to fund it, an administration official told reporters Tuesday night, speaking on condition of anonymity in advance of the announcement.
Read More
China and Iran sign 25-year agreement to expand ties | Financial Times
Beijing has become Tehran’s most important commercial partner as US sanctions have tightened
Read More
China, Long a Source of Deflation, Starts Raising Prices for the World - WSJ
HONG KONG—Rising raw-materials costs and unrelenting supply-chain constraints are prompting many Chinese exporters to increase prices for the goods they sell abroad, raising fears it may add to global inflationary pressures.
Read More
Biden’s China Challenge: Counter Its Perception of American Decline - WSJ
U.S. relations with China are a minefield of potentially explosive problems, yet the biggest risk is a subtle one: the danger that China overestimates the decline of U.S. power and acts accordingly.
Read More
Hong Kong ‘Homecoming Listings’ Are All the Rage, but New York Is Still the Life of the Party - WSJ
U.S.-listed Chinese companies are flocking to go public in Hong Kong amid heightened political tension. But when it comes to trading, New York remains the place to beat.
Read More
China Helped Rev Up, and Then Slow Down, the Global Commodities Boom - WSJ
A bull market in industrial metals that lasted nearly a year is faltering after China started unwinding economic stimulus, underscoring the pivotal role its state-led economy plays in global commodity booms.
Read More
New Trade Representative Says U.S. Isn’t Ready to Lift China Tariffs - WSJ
WASHINGTON—The U.S. isn’t ready to lift tariffs on Chinese imports in the near future, but might be open to trade negotiations with Beijing, according to U.S. Trade Representative Katherine Tai.
Read More

week13 | 2021

week13 | 2021

U.S.-Listed Chinese Stocks Fall Into Bear Market - WSJ
Fresh concerns about companies from China being kicked off American exchanges have helped push an index of U.S.-traded Chinese stocks into bear-market territory.
Read More
Fed's Powell: Rates would move only after "all but full recovery" - Reuters
The Federal Reserve will not raise interest rates until a nearly complete recovery from the pandemic’s economic damage, Fed chair Jerome Powell said on Thursday, a process likely only relevant “in the longer run.”
Read More
Biden Says U.S. Wants Competition, Not Confrontation, With China - WSJ
President Biden forecast “steep competition” with China and said his administration is teaming up with allies around the world to hold China accountable for violating international rules with its aggressive actions in the region.
Read More
Chinese stocks turn from leader to laggard on tighter liquidity | Financial Times
China’s stock market has gone from global leader to laggard in the first three months of 2021, as expectations of tighter monetary policy spurred by an economic recovery from Covid-19 sap appetite for shares.
Read More
Slow-Vaccinating Asia Is Squandering Its Economic Advantages - WSJ
As late as last autumn, suggesting that countries where Covid-19 outbreaks had been suppressed or controlled would suffer a longer-lasting shortfall in consumer demand than the U.S. would have seemed fanciful. It no longer does.
Read More
Pandemic reveals weak links in global supply chain | Financial Times
Vaccine nationalism, Brexit and US-China tensions reflect a political environment more hostile to global trade
Read More
US and EU to revive joint effort to handle more assertive China - Financial Times
The US and EU are poised to reboot a joint effort on how to handle an increasingly assertive China, days after working with the UK and Canada to impose sanctions on officials over human rights abuses in Xinjiang.
Read More
Tech Stocks Led the Market Rally. Now They’re Falling Behind. - WSJ
A year after the U.S. stock market’s coronavirus-induced selloff, investors are trying to assess what comes next.
Read More
Coronavirus Live Updates: More Than 25% of U.S. Has Received a Vaccine Dose - WSJ.com
Newly reported coronavirus cases in the U.S. rose slightly, while Covid-19 vaccination campaigns continued to ramp up, with more than a quarter of the country having received at least one dose.
Read More
Biden’s $1.9tn stimulus set to return global economy to pre-Covid path | Financial Times
Manufacturers hope US consumers will spend their portion of relief package on imported consumer goods
Read More
Biden Administration Officials Put Together $3 Trillion Economic Plan - WSJ
WASHINGTON—Administration officials are crafting a plan for a multipart infrastructure and economic package that could cost as much as $3 trillion and fulfill key elements of President Biden’s campaign agenda, according to people involved in the discussions.
Read More
U.S., China Climate Envoys to Meet Despite Frosty Alaska Talks - WSJ
HONG KONG—The U.S. and China are tiptoeing toward cooperation on climate change despite recent and testy high-level talks, with the two governments’ chief climate envoys scheduled to come together for formal discussions this week.
Read More
Bitter Alaska Meeting Complicates Already Shaky U.S.-China Ties - WSJ
ANCHORAGE, Alaska—High-level talks between the Biden administration and Beijing that veered into acrimony put the U.S.-China rivalry in sharp relief, complicating efforts by the two powers to erect guardrails and keep tensions from spiraling further.
Read More
Covid-19 Vaccine Manufacturing in U.S. Races Ahead - WSJ
Covid-19 vaccine manufacturers are ramping up production, churning out far more doses a week than earlier in the year, progress that is accelerating mass vaccination campaigns in the U.S.
Read More
CGCC Statement on Anti-Asian Violence
Today China General Chamber of Commerce – USA (CGCC-USA) is calling on all members of our community to join us in continuing to stand up against these vile attacks. Whether we are calling out bias and discrimination, supporting advocacy groups, or just taking time to educate ourselves on the benefits of diversity in our communities, we all play a role in breaking this cycle.
Read More

week12 | 2021

week12 | 2021

CGCC News
PwC's 24th Annual Global CEO Survey
Read More
USDA attache sees China 2021/22 soybean imports at 100 million tonnes - Successful Farming
Following are selected highlights from a report issued by the U.S. Department of Agriculture's ForeignAgricultural Service post in Beijing: "China's soybean imports are forecast to reach a record 100 million metric tons (MMT) in marketing year (MY) 21/22 and an estimated 99 MMT in MY20/21 to meet feed demand from the livestock and poultry sectors. "
Read More
Fed's Powell: U.S.-driven global recovery could help lift laggards like Europe - Reuters
The U.S. economy appears set to leave other developed markets in the dust this year with the largest annual growth spurt in decades, new Federal Reserve forecasts indicate, but that divergence is not worrying to the central bank’s top official.
Read More
China, U.S. Trade Barbs at First High-Level Talks Under Biden - WSJ
The U.S. and China began their first high-level meeting under the Biden administration with an acrimonious exchange of words, setting an abrasive tone as the two powers try to stabilize tense relations.
Read More
Gasoline Demand Has Peaked, Global Forecaster Says - WSJ
The world’s thirst for gasoline isn’t likely to return to pre-pandemic levels, the International Energy Agency forecast, calling a peak for the fuel that has powered personal transportation for more than a century.
Read More
Everywhere You Look, the Global Supply Chain Is a Mess - WSJ
Supply chain woes mounted world-wide for makers of everything from cars and clothing to home siding and medical needle containers, as the extreme Texas weather and port backlogs compounded problems for manufacturers already beset by pandemic disruptions.
Read More
China Plans to Ask U.S. to Roll Back Trump Policies in Alaska Meeting - WSJ
Beijing plans to press Washington to reverse many of the policies targeting China introduced during the Trump presidency in the first face-to-face meeting of senior U.S. and China officials since President Biden’s election, according to people with knowledge of the plans.
Read More
Fed poised to upgrade forecasts for US economic growth - Financial Times
Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/3d7704d3-a312-4294-95bc-90233f469ccd The Federal Reserve is poised to upgrade its forecasts for the US economy on Wednesday, pointing to an acceleration of America’s recovery from the pandemic that will test the central bank’s willingness to maintain ultra-loose monetary policy in the years ahead. 
Read More
Bolstered by allies, Biden officials take blunt message to first China talks - Reuters
The United States will take an uncompromising stance in talks with China on Thursday in Alaska, officials have said, in the first face-to-face meetings between senior officials from the two rivals since U.S. President Joe Biden took office.
Read More
Biden Imposes His First Sanctions on Chinese Officials Ahead of Bilateral Meeting - WSJ
The Biden administration added new sanctions against two dozen Chinese officials it says have undermined Hong Kong’s partial autonomy from Beijing, signaling a continuing strong U.S. line on an issue that has contributed to fraying bilateral ties.
Read More
Chinese Monetary Policy Looks Looser Than Advertised - WSJ
China’s industrial output and retail sales jumped by their most in more than a decade in the first two months of 2021: up 35% and 34% year-over-year respectively. Those are big numbers—but sadly, not very meaningful ones.
Read More
Biden stimulus will boost global recovery from Covid, says OECD | Financial Times
US spending package forecast to add 1 percentage point to world’s economic growth this year
Read More
Republicans Push Biden to Take Aggressive Stance Toward China - WSJ
WASHINGTON—As President Biden devotes himself to dealing with the coronavirus pandemic, Republicans are striving to elevate China policy as a top issue, pressuring him to take an aggressive stance as Americans’ opinion toward the global rival grows more negative.
Read More
China Becomes First Major Economy to Start Withdrawing Pandemic Stimulus Efforts - WSJ
HONG KONG—As the first major economy to beat back Covid-19, China is now taking the global lead in moving to unwind its pandemic-driven economic stimulus efforts.
Read More
White House Weighs How to Pay for Long-Term Economic Program - WSJ
WASHINGTON—The Biden administration is looking past its $1.9 trillion coronavirus relief bill and starting to consider how to pay for the next round of programs meant to bolster long-term economic growth with investments in infrastructure, clean energy and education.
Read More
BioNTech Recruits Rivals to Boost Covid-19 Vaccine Production - WSJ
The maker of the West’s first Covid-19 vaccine is building a new manufacturing alliance that could throw Europe and the rest of the world a lifeline amid a painful shortage of shots and a rebound in infections.
Read More

week11 | 2021

week11 | 2021

CGCC News
MoForecast: Predictions on National Security
Read More
Biden directs all states to make all adults eligible for COVID-19 vaccine by May 1 - CBSNews
President Biden set a goal of July 4 to "get closer to normal" in reopening the country in his first prime-time address on Thursday night. To reach that goal, Mr. Biden said he would be directing all states to make all American adults eligible for the COVID-19 vaccine by May 1.
Read More
Top U.S., China Officials to Meet Next Week in Alaska on Range of Issues - WSJ
Top U.S. and Chinese officials are set to hold talks next week in the first high-level in-person meeting between the two powers since President Biden took office, after months of deteriorating ties.
Read More
Biden signs historic $1.9 trillion Covid-19 relief law - CNNPolitics
President Joe Biden signed his sweeping $1.9 trillion Covid-19 economic relief package into law on Thursday afternoon.
Read More
For U.S. Farmers, China Is Back and Bigger Than Ever - WSJ
Record exports follow a painful trade war, but concerns remain: ‘We can’t just be reliant on one partner’
Read More
Top US and China envoys to meet in Alaska next week | Financial Times
Gathering of senior diplomats from Beijing and Washington is the first under Biden
Read More
China’s Rise Drives a U.S. Experiment in Industrial Policy - WSJ
American leaders have long trusted in private markets rather than the federal government to pick the economy’s winners and losers, shunning the industrial policy popular with France, Japan and others.
Read More
U.S and China Engage, Tentatively, on Climate Change - WSJ
The U.S. and China are engaged in a confidence-building exercise that could show whether the world’s two largest economies can work together on shared priorities despite deep disagreements and a badly strained bilateral relationship.
Read More
U.S. Senate panel chairman hopes for vote on China measures as soon as April - Reuters
Senator Bob Menendez, the chairman of the Senate Foreign Relations Committee, said on Tuesday he hoped the Senate could vote as soon as April on a sweeping bi-partisan package of legislation to address threats from China.
Read More
U.S. House set for final approval of $1.9 trillion COVID-19 bill in early win for Biden - Reuters
President Joe Biden is poised on Wednesday for his first major legislative victory when the House of Representatives is expected to approve his $1.9 trillion COVID-19 relief package, which forecasters predict will turbocharge the U.S. economy.
Read More
China M&A surges on Covid recovery as focus shifts inwards | Financial Times
Value of domestic deals at $77.5bn marks busiest start to a year on record
Read More
U.S. Companies in China Say Political Tensions Remain Top Concern - WSJ
SHANGHAI—U.S.-China political tensions remain the top concern for American companies in China despite some optimism about the relationship improving under President Biden, according to companies surveyed by the American Chamber of Commerce in China.
Read More
U.S. Growth Surge Could Unbalance Fragile Global Economy - WSJ
The U.S. will drive a sharp rebound in the world economy this year, but the strength of the American bounce could unbalance weaker economies, particularly in the developing world.
Read More
China Targets AI, Chips Among Seven Battlefronts in Tech Race With U.S. - WSJ
SINGAPORE—China upped the stakes in its tech race with the U.S. as leaders laid out plans to speed up development of advanced technologies from chips to artificial intelligence and quantum computing over five years.
Read More
U.S. Set to Power Global Economic Recovery From Covid-19 - WSJ
The U.S. could help drive a powerful global economic recovery this year, as it plays a more central role in the comeback than after the financial crisis, reflecting the unusual nature of the Covid-19 shock and the flexibility of the American economy.
Read More
China Exports Resurgent a Year on From Covid-19 Doldrums - WSJ
BEIJING—China’s exports surged by more than 60% in the first two months of the year from last year’s coronavirus-induced lows, as demand in the U.S. and Europe for made-in-China goods continued to rebound.
Read More

week10 | 2021

week10 | 2021

CGCC News
US-China Market Watch: Biden’s China Policy, China Online Lending Curbs, Lunar New Year Box Office
President Joe Biden is planning to focus on semiconductors, artificial intelligence and next-generation networks in U.S....
Read More
Americans’ Views on China Go From Bad to Worse - WSJ
A series of recent U.S. public opinion polls show some of the frostiest views ever toward China and indicate growing support for the Biden administration to take tougher stands aimed at influencing Beijing’s behavior.
Read More
China Sets 2021 GDP Growth Target at Over 6% - WSJ
Chinese leaders said they would target gross domestic product growth of 6% or more this year, a relatively modest goal that nonetheless signals continued optimism after a year in which the coronavirus eviscerated the global economy.
Read More
Senate Advances Democrats’ Covid-19 Aid Bill - WSJ
Senate Democrats advanced a $1.9 trillion coronavirus relief package Thursday after making a series of adjustments related to student loans, infrastructure and other matters, with approval in the chamber expected within days.
Read More
Support for Covid-19 Vaccine Passports Grows, With European, Chinese Backing - WSJ
Many international travelers will likely need to prove they are vaccinated or free of Covid-19 if they plan trips later this year, after the European Union and China both said they would move ahead with plans for “vaccine passports.”
Read More
China Taps U.S.-Trained Former Central Banker for IMF Role - WSJ
SINGAPORE—Beijing is set to appoint a lawyer with deep U.S. experience as its top representative to the International Monetary Fund, according to people familiar with the decision, as it seeks to repair its relationship with Washington and gain a greater voice in the multilateral economic arena.
Read More
After Crushing Covid-19 Last Year, These Countries Are Getting Left Behind in the Recovery - WSJ
Asian nations led the world in crushing Covid-19 in 2020. Now some are being hamstrung by border closures and other rules they imposed to stay safe, potentially putting them behind the U.S. and other countries in leading the global economic recovery.
Read More
Fed officials emphasize policy 'patience' as outlook improves - Reuters
U.S. Federal Reserve officials, facing a potential bout of inflation this spring in an economy turbocharged by vaccines and government spending, on Tuesday said they will nevertheless keep their easy money plans in place in hopes of speeding displaced Americans back to work.
Read More
Biden Expects U.S. to Have Covid-19 Vaccines for All Adults by End of May - WSJ
President Biden said the U.S. would have enough Covid-19 vaccines for all American adults by the end of May, two months earlier than he had previously said, after regulators authorized the one-shot Johnson & Johnson vaccine and Merck & Co. agreed to help produce it.
Read More
Gina Raimondo Confirmed as Commerce Secretary - WSJ
Rhode Island Gov. Gina Raimondo won easy Senate confirmation for commerce secretary Tuesday, but faces big challenges ahead at an agency tasked with addressing Chinese trade and technology threats.
Read More
IMF expects US and China to recover most strongly from virus economic hit | Financial Times
Fund predicts that Europe and emerging markets will be lagging behind in 2022
Read More
Is Inflation a Risk? Not Now, but Some See Danger Ahead - WSJ
Though slack in the economy and a vigilant Fed currently keep prices well in check, some economists say political pressure and new emphasis on maximizing employment could test central bank’s resolve
Read More
U.S. to Take Hard Line on Chinese Trade Practices, Administration Says - WSJ
WASHINGTON—The Biden administration said Monday it will use “all available tools” to respond to alleged unfair trading practices by Beijing as it conducts a comprehensive review of its trade policy with China.
Read More
China Got Its Economy Growing Again, but a Shortfall in Babies Will Be Harder to Fix - WSJ
China may have blunted the pandemic’s impact on its economy, but a shortfall in babies is clouding its growth horizon.
Read More
U.S. to Impose Sweeping Rule Aimed at China Technology Threats - WSJ
WASHINGTON—The Biden administration plans to allow a sweeping Trump-era rule aimed at combating Chinese technology threats to take effect next month, over objections from U.S. businesses, according to people familiar with the matter.
Read More
China Lets Yuan Rise Steadily, Pressuring Exporters - WSJ
HONG KONG—China’s currency has continued to climb in value this year on the back of a strong economic recovery, and Beijing doesn’t appear to be in a hurry to weaken it despite the pressure it is putting on exporters.
Read More

week9 | 2021

week9 | 2021

CGCC News
Third Wave of Paycheck Protection Program Loans
More financial relief may finally be within reach for organizations suffering from the economic impact of the COVID-19 p...
Read More
Lessons Learned from OFAC’s 2020 Enforcement Actions
As we previously wrote in our OFAC 2020 Year in Review, the U.S. Treasury Department’s Office of Foreign Assets Control ...
Read More
U.S. Stock Futures Choppy After Tech Selloff - WSJ
U.S. stock futures edged lower Friday, putting the S&P 500 on track for its worst week in a month following a sharp selloff in technology stocks.
Read More
China confirms Xie Zhenhua appointed as new special climate envoy - Yahoo Finance
Xie Zhenhua, who served as China's chief negotiator during key climate meetings in Copenhagen and Paris, has been appointed the country's new special climate envoy, the environment ministry confirmed on Thursday.
Read More
Global Trade Roars Back From Depths of Covid-19 Pandemic - WSJ
Global trade has rebounded from its collapse in the early stages of the pandemic, with China and other Asian manufacturing countries grabbing a bigger slice of exports of everything from masks to bikes—market share they are expected to keep after the public-health crisis fades.
Read More
Countries Seek New Fix for Dormant International Trade Court - WSJ
WASHINGTON—Member countries of the World Trade Organization are aiming to resurrect a dormant system for resolving trade disputes that has been a point of friction between the U.S. and other nations.
Read More
Joe Biden orders review of critical foreign supply chains | Financial Times
President wants federal agencies to look into US dependence on rivals in essential sectors
Read More
Biden Economic Aide Sees Steady Recovery as Covid-19 Vaccinations Progress - WSJ
WASHINGTON—Economic activity will pick up as the pandemic recedes and Americans are vaccinated against Covid-19, but the recovery will be gradual rather than sudden, a top economic adviser to President Biden said Wednesday.
Read More
U.S. Treasury No. 2 nominee Adeyemo urges get-tough attitude on China - Reuters
Wally Adeyemo, President Joe Biden’s nominee as deputy Treasury secretary, on Tuesday said Washington should work with allies to hold China accountable to international rules to ensure a level playing field for companies in the United States and elsewhere.
Read More
Tech Stocks Bounce Back as Rate Fears Ease - WSJ
Tech stocks rebounded from an early swoon after Federal Reserve Chairman Jerome Powell pledged anew to support the economic recovery by keeping interest rates low, easing concerns about the impact of rising rates on the monthslong rally in major U.S. indexes.
Read More
To Make More Covid-19 Vaccines, Rival Drugmakers Team Up - WSJ
Some of the world’s biggest drugmakers are joining forces with rivals to help produce Covid-19 vaccines, forging unusual alliances that promise to substantially increase supplies by this summer.
Read More
China urges Biden to lift sanctions and stop meddling | Financial Times
Foreign minister’s remarks follow frosty exchanges in first weeks of US administration
Read More
Chinese Consumers Were Big Spenders During the Lunar New Year Holiday - WSJ
BEIJING—Chinese consumers opened up their wallets over the weeklong Lunar New Year holiday, energizing a domestic retail and service sector that has proved a stubborn laggard in China’s economic recovery.
Read More
Biden Prepares for Sweeping Recovery Package After Covid-19 Relief Bill - WSJ
WASHINGTON—As President Biden pushes for passage of his coronavirus relief plan, he has begun working on a wide-ranging economic recovery package that could face skepticism from lawmakers who are wary of another high-dollar legislative response to the pandemic.
Read More
Biden Declares Texas Winter Storm a Major Disaster - WSJ
President Biden approved a major disaster declaration for Texas on Saturday after winter storms wreaked havoc on the state, creating a power and utility crisis.
Read More
Underfunded and Under Pressure, U.S. Pensions to Keep Investing in China - WSJ
U.S. state pension funds that invested in Ant Group Co. were stung when the financial technology firm’s initial public offering was suddenly pulled on orders of China’s president. But few of these investors are swearing off Chinese private markets, where they still hope to reap big returns.
Read More
Paycheck Protection Program to Offer Exclusive Covid-19 Loan-Application Window for Smallest Firms - WSJ
WASHINGTON—The federal government’s signature coronavirus-relief program for small businesses will accept applications exclusively from companies with fewer than 20 employees for 14 days starting Wednesday, President Biden will announce Monday, according to administration officials.
Read More

week8 | 2021

week8 | 2021

Bitcoin steams to new record and nears $1 trillion market cap - Reuters
Bitcoin hit yet another record high on Friday, and moved within sight of a market capitalisation of $1 trillion, blithely shrugging off analyst warnings that it is an “economic side show” and a poor hedge against a fall in stock prices.
Read More
New York State Sues Amazon Over Worker Treatment During Covid-19 Pandemic - WSJ
New York’s attorney general has filed a lawsuit against Amazon.com Inc. that accuses the online retailer of not doing enough to protect workers in the state from the coronavirus.
Read More
Yellen says U.S. will keep tariffs on China in place for now - Reuters
The United States will keep tariffs imposed on Chinese goods by the former Trump administration in place for now, but will evaluate how to proceed after a thorough review, Treasury Secretary Janet Yellen told CNBC on Thursday.
Read More
Oil and gas industry in Texas buckles under strain of Arctic blast | Financial Times
Frigid temperatures disrupt big pillar of global energy industry, sending crude prices soaring
Read Mor