中文

CGCC Week In Review

     

Connecting People, Building Trust, Expanding Cooperation

week34 | 2018

week34 | 2018

Weekly Headlines
China’s flourishing biotech start-ups look to be ‘true innovators’ - FT
Han Yusheng, a Chinese entrepreneur with a background in biology, established Burning Rock to promote the early diagnosis and treatment of cancer, especially lung cancer, using next-generation sequencing-based diagnostics in 2014 with the help of venture capital firms including Sequoia Capital China.
Read More
Ant Financial’s IPO plan dented as cash burn and regulators hit Alibaba affiliate - FT
A blockbuster listing of Ant Financial, the fast-growing electronic payment affiliate of China’s leading tech group Alibaba, has again been delayed as it continues to burn cash and faces a crackdown on non-traditional financial institutions.
Read More
U.S. Moves Toward New Tariffs on China Despite Fresh Round of Trade Talks - WSJ
WASHINGTON—The Trump administration is moving closer this week to levying tariffs on nearly half of Chinese imports despite broad opposition from U.S. business and the start of a fresh round of talks between the U.S. and China to settle the trade dispute.
Read More
China’s Anbang Puts a $5.5 Billion Luxury Hotel Portfolio on the Block - WSJ
China’s Anbang Insurance Group Co. is looking to unload a luxury hotel collection that it acquired for $5.5 billion two years ago, according to people familiar with the matter, as pressure builds on the company to raise cash following its seizure by the government.
Read More
Apple Pulls Illegal Apps Targeted by Chinese State Media - WSJ
BEIJING—Under fire from Chinese state media, Apple Inc. AAPL 2.00% said it removed illegal gambling apps from its App Store in China—a move that could help quell the latest challenge for the American tech giant in its most important market outside of the U.S.
Read More
U.S. firms warn next China tariffs to cost Americans from cradle to grave
WASHINGTON (Reuters) - A broad cross-section of U.S. businesses has a message for the Trump administration: new tariffs on $200 billion of Chinese imports will force Americans to pay more for items they use throughout their daily lives, from cradles to coffins.
Read More

week33 | 2018

week33 | 2018

Weekly Headlines
China Premier says will introduce new measures to boost private investment: Xinhua | Reuters
SHANGHAI (Reuters) - China’s Premier Li Keqiang said the country will step up reforms and roll out new incentives to remove obstacles to private investment and business, the official Xinhua news agency reported.
Read More
Chinese internet stock sell-off may shake faith in FANGs | Reuters
SAN FRANCISCO (Reuters) - A steep downturn in heavyweight Chinese internet stocks and recent weakness in half of the so-called FANG group have some investors worried that a key component of Wall Street’s near-decade long rally may be low on fuel.
Read More
Google CEO Tells Employees Company Isn’t Close to Launching Search Engine in China - WSJ
Google Chief Executive Officer Sundar Pichai defended to employees the internet giant’s controversial push to do more business in China but said the company is “not close to launching a search product” in the country, according to a person briefed on the comments.
Read More
Renminbi jumps back from 19-month low - FT
China’s currency strengthened on Thursday, helping to lift the renminbi back from its lowest point since early 2017 that it touched a day earlier.
Read More
China millennials face pension shortfall - FT
More than half of Chinese millennials are facing a pension shortfall by neglecting to save for their retirement, new research has found, raising concerns over the country’s ageing population and mounting debt pile.
Read More
China to send vice-ministerial trade delegation to US in late August - FT
China’s Commerce Ministry will send a delegation led by vice minister Wang Shouwen to the US for trade talks at the end of August.
Read More
Smaller Cities Are a Big Worry in China’s Too-Hot Property Market - WSJ
BEIJING—China’s booming housing market has been a rare bright spot of late as the broader economy cools, but there are signs of trouble beneath the surface.
Read More
Tencent Stuns With First Profit Drop in at Least a Decade
Tencent Holdings Ltd. joined the ranks of Facebook Inc. by reporting shockingly poor quarterly numbers, underscoring how tech superstars that led the market to new heights are showing signs of strain.
Read More
Y Combinator to open incubator in China | Financial Times
Y Combinator, the Silicon Valley start-up incubator that helped launch Dropbox and Airbnb, is launching in China and has recruited one of the country’s leading technologists to run it in a bid to tap into its fast-growing technology sector.
Read More
China’s Growth Engine Sputters as It Battles U.S. Over Trade - WSJ
BEIJING—China’s economy continued to show signs of cooling, with fixed-asset investment slowing to a nearly two-decade low for the first seven months of the year as trade tensions with the U.S. escalated.
Read More
Alibaba and Tencent in battle for China’s food delivery crown - FT
Finn Liu works 60-hour weeks in the heart of Beijing’s Silicon Valley — fuelled, in no small measure, by the meals he has delivered to his desk. He is not alone: come lunchtime, armies of uniformed delivery men descend on his office building, yelling out numbers as workers pour out to collect their noodles, rice bowls and salads.
Read More
China fixed asset investment slows to record low - FT
Chinese industrial production and fixed asset investment growth came in below forecasts in July, with the latter falling to a record low as retail sales also disappointed.
Read More
Chinese yuan weakens to 6.8629 against USD Monday - Xinhua | English.news.cn
BEIJING, Aug. 13 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, weakened 234 basis points to 6.8629 against the U.S. dollar Monday, according to the China Foreign Exchange Trade System.
Read More
Turkish Drama Pummels Emerging Markets Around the World - WSJ
Turkey’s currency plunged again Monday, rattling other vulnerable emerging markets, while the country’s central bank made policy moves that failed to assuage investors about the economy’s perilous financial condition.
Read More
Google Woos Partners for Potential China Expansion - WSJ
Google’s search engine is blocked in China. But inside the Beijing offices of smartwatch maker Mobvoi Inc., the internet giant looms large.
Read More

week32 | 2018

week32 | 2018

Weekly Headlines
For Uber and Airbnb, New York City Turns Foe - WSJ
For Uber Technologies Inc. and Airbnb Inc., New York City has been a cradle of growth, with its 8.5 million residents and burgeoning tech startup scene.
Read More
China’s Tariff Turnaround: U.S. Crude Oil Drops Off the Target List - WSJ
As China made good on its threat to impose 25% tariffs on $16 billion worth of U.S. imports, one big-ticket item originally on its hit list was conspicuously missing: crude oil.
Read More
Turkish Crisis Rattles Currency Markets - WSJ
The Turkish lira tumbled as much as 12% against the dollar Friday, a shock that set off sharp falls in other emerging-market currencies and in the shares of several big European banks.
Read More
The week in energy: the trade war heats up - FT
During the Cold War, there were countless thousands of words written about the theory of nuclear escalation: the prospect of conflicts flaring up into increasingly intense attacks, culminating in all-out nuclear war. The series of tariff disputes launched by US President Donald Trump suggests that we need an equally thorough investigation of the logic of trade war escalation.
Read More
China’s Central Bank Lets the Credit Flow - WSJ
Asian equities were mixed Thursday, with a jump in Chinese stocks standing out from the pack.
Read More
US-China trade tariffs cast shadow over cloud computing boom - FT
The information factories for the cloud computing age are about to get caught in the crossfire of the US-China trade war.
Read More
China’s trade surplus with US drops slightly in July to US$28 billion, as tariffs start to bite | South China Morning Post
China’s trade surplus with the United States fell by about 3 per cent in July from the previous month, as the tariffs imposed by the two countries on each other’s imports took their first bite.
Read More
U.S. to Impose Tariffs on Another $16 Billion in Chinese Imports - WSJ
WASHINGTON—The Trump administration completed plans Tuesday to impose new tariffs on $16 billion in Chinese imports to punish Beijing for its trading practices, bringing the total value of products covered by the duties to $50 billion by the end of the month.
Read More
China’s Imports Jump as It Digs In for a Trade Fight - WSJ
BEIJING—China’s imports surged in July as it moved to shore up its economy and prepared for a long-term trade battle with the U.S.
Read More
Trump claims US is winning trade war with China - FT
President Donald Trump has claimed the US is winning the worsening trade war with China and that his tariffs on imports will help reduce the US national debt, firing back a day after Beijing threatened retaliatory tariffs on $60bn of imports from the US.
Read More
China drug scandals highlight risks to global supply chain - FT
The drug safety scandals in recent weeks have underlined the risks to international consumers posed by weak oversight in China, the world’s largest supplier of active pharmaceutical ingredients.
Read More
China private equity funds suffer wave of closures - FT
Chinese alternative asset managers have become the latest casualty of the country’s crackdown on debt and financial risk, with a record number of private equity and hedge funds dissolving in recent months as new regulations limit their fundraising.
Read More
Bigger Sales Than Apple? China’s Huawei Doesn’t Need the U.S. - WSJ
HONG KONG—Smartphone sales are falling globally, but a Chinese tech giant whose devices most Americans can’t even buy is doing a booming business, while nipping at the heels of Apple Inc.
Read More
China Bears Score $7.1 Billion Victory in Long-Running ‘Pain Trade’ - WSJ
Investors are piling into bets against China’s stocks and currency, reviving what has been one of Wall Street’s most popular—and painful—trades in recent years.
Read More
Renminbi holds firm in wake of PBoC move | Financial Times
China’s currency was slightly firmer on Monday after Beijing stepped in to stabilise the renminbi late last week and as analysts cautioned over possible further intervention.
Read More

week31 | 2018

week31 | 2018

CGCC News
Openness and Opportunity: The Future of the China-US Corridor
With the theme “Openness and Opportunity: The Future of the China-US Corridor”, the forum convened a diverse array of ex...
Read More
Weekly Headlines
China Reins In Yuan’s Rapid Depreciation - WSJ
BEIJING—China is moving to rein in the yuan’s rapid depreciation as investors bid down the tightly-controlled currency to its weakest level in more than a year amid growing worries over a bruising trade battle with the U.S.
Read More
Apple’s Market Cap Hits $1 Trillion - WSJ
Apple AAPL 2.92% Inc. on Thursday became the first U.S. company to surpass $1 trillion in market value, underscoring the iPhone maker’s explosive growth and its role in the technology industry’s ascent to the forefront of the global economy and markets.
Read More
China says it wants to resolve differences with U.S. 'on equal footing' | Reuters
SINGAPORE (Reuters) - China is willing to resolve differences with the United States on an equal footing, the Chinese government’s top diplomat said on Friday after meeting U.S. Secretary of State Mike Pompeo, but added they did not address their trade war too specifically.
Read More
Trump's overture to emerging Asia drowned out by trade war | Reuters
SINGAPORE (Reuters) - When the U.S. Secretary of State flies into Southeast Asia this week with a new investment pitch for the region, the response could be: thanks a million, but please stop threatening a trade war with China that will make us lose billions of dollars.
Read More
China Tower raises most in an IPO globally since 2016 - - FT中文网
China Tower Corporation, the world’s largest telecommunications tower group by revenue, has raised $6.9bn its initial public offering, the biggest amount garnered globally in a market debut since 2016.
Read More
China crackdown on bad debt forces wave of loans on the market - - FT中文网
A tightening of credit and a crackdown on bad debt at banks in China has led to a flood of non-performing loans hitting the market at increasingly low prices.
Read More
China central bank to fine-tune policy to ensure ample liquidity
BEIJING (Reuters) - China’s central bank will fine-tune monetary policy in a “pre-emptive” way to ensure liquidity is reasonably ample, it said on Wednesday, amid heightened trade tension that has stiffened economic headwinds.
Read More
Huawei overtakes Apple as world No. 2 smartphone seller, gains ground in China
HONG KONG/SINGAPORE (Reuters) - China’s Huawei Technologies overtook Apple Inc (AAPL.O) to become the world’s second-biggest smartphone seller in the June quarter, data from market research firms showed, as it gained ground in Europe and expanded its lead back home.
Read More
Trump Advisers Urge Raising Additional China Tariffs to 25% - WSJ
As Washington and Beijing struggle to break a trade impasse, some administration advisers are urging President Trump to raise the stakes with a sharp increase in the level of tariffs proposed for $200 billion in Chinese imports targeted for punitive measures.
Read More
Pompeo hails Indo-Pacific funding pledge - - FT中文网
Mike Pompeo, US secretary of state, yesterday set out the Trump administration’s plans to respond to China’s $1tn international investment drive and boost the US’s role in the Indo-Pacific through what he hailed as a “new era” of investment.
Read More
US groups hit out at proposed tariffs on Chinese e-bikes - - FT中文网
Uber, Bird and Lime have hit out at proposed US tariffs on electric bicycles and scooters imported from China, pitting some of Silicon Valley’s fastest-growing companies against US President Donald Trump.
Read More
China toughens security stance on foreign buyers of sensitive assets - - FT中文网
Foreigners seeking “strategic” stakes in listed Chinese companies could face broader national security reviews under rules drafted by China’s commerce ministry, a sign Beijing is preparing to hit back at western efforts to curb Chinese acquisitions of sensitive technologies.
Read More
Soda, Motorcycle Prices Rise as Tariffs Hit Home for Consumers - WSJ
Consumers are starting to see higher prices for recreational vehicles, soda, beer and other goods that now cost more to make as a result of recent tariffs on metals and parts.
Read More
Trump Again Threatens to Shut Down Government - WSJ
WASHINGTON—President Trump renewed a threat to shut down the government unless Congress provides money for a wall at the southern border and enacts new curbs on immigration, reviving a battle he said last month should wait until Republicans gained more solid majorities after the November elections.
Read More
Trump Says He ‘Opened Up Europe’ for Farmers. Europeans Disagree. - WSJ
A day after President Trump hailed “a breakthrough agreement” on trade with Europe, European officials said the president and his aides are exaggerating the scope of their new pact.
Read More

week30 | 2018

week30 | 2018

CGCC News
International Cooperation Forum at 2018 NGA Summer Meeting in New Mexico
Read More
Weekly Headlines
Exclusive: China eyes infrastructure boost to cushion growth as trade war escalates - sources
BEIJING (Reuters) - China plans to put more money into infrastructure projects and ease borrowing curbs on local governments to help soften the blow to the economy from the Sino-U.S. trade war, policy sources told Reuters.
Read More
China is at a 'historic juncture,' with outcome uncertain: IMF staff report - MarketWatch
The Chinese economy is at a "historic juncture" having to move from "high speed" growth to "high quality" growth, and how this shift is carried through will determine the country's development path for decades to come.
Read More
China’s suffocation of Qualcomm-NXP merger signals new era - FT中文网
In late May, a team of Qualcomm lawyers arrived in Beijing to seal a deal with Chinese competition regulators, optimistic that they would  soon clear the last hurdle in the US semiconductor company’s proposed $44bn acquisition of the Dutch-owned NXP.
Read More
Chinese E-Commerce Startup Fetches Nearly $24 Billion Valuation in Nasdaq IPO
HONG KONG—A three-year-old Chinese internet startup earned a nearly $24 billion market valuation in an initial public offering in New York, drawing high investor demand ahead of a string of larger internet IPOs from the country in the coming months.
Read More
China flexes muscles by scuppering $44bn chip deal
Beijing’s failure to approve Qualcomm bid amid US trade tensions rattles global M&A. Qualcomm admitted defeat in its attempted $44bn takeover of Dutch chipmaker NXP after failing to win approval from Chinese regulators for what would have been the semiconductor industry’s largest ever takeover.
Read More
U.S., Europeans Agree to Iron Out Trade Differences
WASHINGTON—President Donald Trump and European Commission President Jean-Claude Juncker turned down the heat on a trade dispute between two of the world’s largest economic powers, suggesting Wednesday they would hold off on further tariffs while they talk through their differences.
Read More
Tariff Dispute Threatens China’s Thirst for U.S. Oil - WSJ
For the American oil industry, which President Donald Trump has declared is entering an era of “energy dominance,” an escalating trade fight with China would represent a lost opportunity for U.S. efforts to break into a strategic market.
Read More
Chinese Reversing Big U.S. Real Estate Buying Spree That Had Helped Boost Prices - WSJ
Chinese real-estate investors, facing pressure from Beijing, are reversing a yearslong buying spree in the U.S. where they often paid record prices for marquee properties like New York’s Waldorf Astoria hotel.
Read More
Trump Administration Plans Up to $12 Billion in Farm Aid to Ease Concerns Over Trade Disputes - WSJ
WASHINGTON—The Trump administration said Tuesday it would extend $12 billion in emergency aid to farmers amid signs the U.S. agricultural sector is beginning to feel the impact of President Donald Trump’s escalating trade disputes with major U.S. trading partners.
Read More
China’s cabinet unveils fresh measures to boost economy - FT中文网
China has announced a mix of tax cuts and infrastructure spending citing “uncertainty”, as it ramps up efforts to stimulate demand and counteract a weakening economy.
Read More
China Tower targets $8.7bn in listing - FT中文网
China Tower Corporation, the largest telecoms tower group by revenue, is seeking to raise up to $8.68bn in a Hong Kong initial public offering that would value the state-backed company as high as $35bn.
Read More
Cloud Migration Set to Ramp Up in China - CIO Journal. - WSJ
Companies in China have been slower to embrace cloud computing, compared to U.S. firms, citing the cost and complexity of workload migrations, as well as added security and regulatory issues, according to a new McKinsey & Co. report.
Read More
China Targets Apple With Push Into Advanced Smartphone Screens - WSJ
CHENGDU, China—China’s campaign to become a global power in advanced manufacturing is playing out at a high-tech factory in Sichuan province, where engineers are aiming to supply display screens for Apple Inc.’s AAPL -0.23% top-tier iPhones.
Read More
What the Fed Is Missing, Again - WSJ
The Federal Reserve isn’t worried about the yield curve, and it has reason why. The problem: It is pretty much the same reason it wasn’t worried about the yield curve before the financial crisis.
Read More
China’s Latest Consumer Scandal: Unsafe Vaccines - WSJ
HONG KONG—Chinese Premier Li Keqiang called for a government investigation into “the entire process chain of all vaccine production and sales,” after a drug company allegedly sold more than 250,000 doses that failed to meet safety standards.
Read More

week29 | 2018

week29 | 2018

CGCC News
CGCC sponsors Good Beer 2018: Craft Beer and Food Festival
Read More
Weekly Headlines
U.S. Envoy to China Feels the Heat From Trade Fight - WSJ
BEIJING—When Terry Branstad left behind 22 years as Iowa governor to become ambassador to China in 2017, he brought to the job relationships with both presidents, Donald Trump and Xi Jinping.
Read More
Congress to Toughen Foreign Investment Reviews Amid Trade Fight With China - WSJ
Congress is poised to strengthen the procedures for vetting both foreign investments in the U.S. and overseas transactions involving cutting-edge American technology.
Read More
Trump Says He’s Ready to Impose Tariffs on $500 Billion in Chinese Imports - WSJ
WASHINGTON—President Donald Trump on Friday reiterated his threat to put a tariff on every dollar of China’s roughly $500 billion in exports to the U.S.
Read More
Chinese signal readiness to boycott US goods during trade conflict - - FT中文网
A majority of Chinese consumers would be prepared to boycott US goods in the event of a trade war with Washington, a survey has found, signalling the high stakes in the escalating conflict between the two countries.
Read More
There’s a bigger worry in China than trade tension - - FT中文网
International Investors are too fixated on trade tension between the US and China. Instead, they would do well to take heed as Beijing continues a war against non-bank lenders and fintech companies that is tightening liquidity and spooking investors in mainland China.
Read More
The discrepancy at the heart of US-China trade tensions - - FT中文网
In mid-June, as Washington and Beijing were hurtling towards a multibillion-dollar trade war, the US Supreme Court weighed in on an obscure Sino-American commercial dispute. In a unanimous decision, the justices overturned a 2014 ruling by a lower court that had exonerated Hebei Welcome Pharmaceutical and other Chinese drugmakers of colluding to fix prices.
Read More
U.S. Expects China to Buy Even More Iranian Oil After Sanctions - WSJ
There is one big hitch in U.S. plans to stem buying of Iranian oil: China.
Read More
Yuan Hits One-Year Low, Testing China's Tolerance for Weakness
The yuan fell to the lowest since August as the dollar rallied, raising speculation that Chinese officials are comfortable with the currency’s weakness.
Read More
U.S. Dealers Expect Foreign Cars to Cost More If Auto Tariffs Enacted - WSJ
Consumers should expect higher prices on imported cars if President Donald Trump’s proposed 25% tariff on foreign-built vehicles shipped into the U.S. is enacted, according to car sellers.
Read More
Latest Sign of China’s Slowdown: A Technology Cash Crunch - The New York Times
HONG KONG — Wang Shidong and his two partners were still finishing graduate school two years ago when they raised $45 million in less than two months to start a venture capital fund. His wife, an elementary-school teacher in their home village, was “terrified” that he got to manage so much money, Mr. Wang said.
Read More
Rush into bank credit triggers worries for China’s $1tn money market fund sector - FT中文网
Investors have warned of growing systemic risks in China’s $1.09tn money market fund industry, as funds buy up bank credit despite a surge in bad debt this year.
Read More
China Targets U.S. Tech Startups in Investment Loophole - WSJ
Tighter national security reviews have curbed Chinese deal-making in the U.S., but a new study shows China is pouring money into cutting-edge American technologies at a record pace this year through loosely regulated venture capital investments.
Read More
China Snubs Xiaomi With Pushback Against Dual-Class Shares - WSJ
China’s two main stock exchanges said investors on the mainland won’t be able to use a trading link with Hong Kong to buy into companies with supervoting shares, a setback for recently listed smartphone maker Xiaomi Corp.
Read More
Boeing works to avert US-China trade war escalation | Financial Times
Boeing is working actively behind the scenes to avert an escalation of the bitter US-China trade war, amid concerns about the risks for a company that is the top US exporter.
Read More
China Growth Slows Slightly Ahead of Effects From U.S. Trade Fight - WSJ
BEIJING—China’s economic expansion slowed a notch in the second quarter, weighed down by a top-priority government debt cleanup even before growth takes an expected hit from the trade fight with the U.S.
Read More

week28 | 2018

week28 | 2018

Weekly Headlines
China’s Effort to Control Debt Loses Steam - WSJ
BEIJING—China is letting up on its drive to keep a lid on debt growth as it faces a softening economy at home and escalating trade tensions with the U.S.
Read More
Apple Sets $300 Million Clean Energy Fund for China Amid Trade Tensions - WSJ
Apple Inc. AAPL 1.68% said it would launch a $300 million clean-energy fund for China with 10 of its suppliers, extending the U.S. tech giant’s commitment to China at a time of mounting trade tension between its home country and its most important overseas market.
Read More
China’s Trade Surplus With U.S. Hits Record as Fight Intensifies - WSJ
BEIJING—China’s trade surplus with the U.S. surged to a record monthly high in June, with exports swelling just as trade tensions between the world’s two largest economies escalated.
Read More
Let It Slide: Beijing Lets Yuan Weaken by Most in 18 Months
China guided the yuan to its largest one-day drop against the U.S. dollar in a year and a half, with an intensifying trade conflict between the world’s two largest economies putting fresh pressure on the Chinese currency.
Read More
This Time Around, Chinese Consumer Products Would Face Tariffs
WASHINGTON—The Trump administration is expanding the battlefield in its trade fight with China, moving beyond industrial goods to threaten tariffs for the first time on a range of consumer products that illustrates how dependent the U.S. consumer economy is on imports.
Read More
Tesla to Build Auto Factory in Shanghai - WSJ
SHANGHAI— Tesla Inc. TSLA 1.24% will build a factory in Shanghai, the city government said Tuesday, a move expected to boost sales in the world’s largest auto market but that comes as U.S. companies face pressure to keep jobs at home.
Read More
China Plans More Retaliatory Tariffs as Trade Dispute With the U.S. Worsens - WSJ
BEIJING—China reacted angrily to the Trump administration’s new tariff plans for $200 billion in Chinese goods, calling the move a “totally unacceptable” escalation and vowing to roll out unspecified countermeasures.
Read More
U.S. Unveils Additional Tariffs on $200 Billion More in Chinese Imports - WSJ
WASHINGTON—The White House said it would assess 10% tariffs on a further $200 billion in Chinese goods, deepening the dispute with Beijing, while sending a message to other trading partners that the U.S. won’t back away from trade fights.
Read More
Tesla Buyers in China Are Early Casualties in Trade Wrestle - WSJ
SHANGHAI—Tesla buyers in China will be among the first consumers to feel the pinch from the U.S.-China trade dispute.
Read More
China to use tariff revenue to aid companies hit by US duties - FT中文网
China will minimise the impact of its ongoing tariff war with the US on its economy by using tariff revenues to aid affected companies and employees, Beijing’s commerce ministry announced Monday.
Read More
China’s Taste for Soybeans Is a Weak Spot in the Trade War With Trump - The New York Times
XIAOWUSILI, China — For all its economic might, China hasn’t been able to solve a crucial problem.
Read More
U.S. Trade Representative Announces ‘Exclusion’ Process for Products Hit by U.S. Tariffs on China - WSJ
WASHINGTON—The U.S. Trade Representative outlined a way for companies to get their products excluded from fresh tariffs on $34 billion worth of Chinese exports that were imposed on Friday.
Read More
Xiaomi shares fall almost 5% in Hong Kong debut | Financial Times
Shares in Xiaomi dropped nearly 5 per cent at the open in Hong Kong on Monday, marking a disappointing start for one of the most highly-anticipated public offerings of 2018.
Read More
How U.S. and China Tariffs Are Rippling Through U.S. Industries
Makers of whiskey, cheese, auto parts and more are contending with the U.S.-China tariff battle
Read More

week27 | 2018

week27 | 2018

CGCC News
Statement on US-China Tariffs
Read More
Weekly Headlines
China market turmoil revives memories of previous carnage | Financial Times
Turmoil has returned to Chinese financial markets after more than two years of relative calm, reviving memories of 2015-16, when an equity market rout combined with currency depreciation captured the attention of global investors and sparked worries about systemic risk.
Read More
U.S. Has Launched ‘Largest Trade War in Economic History,’ China Says - WSJ
BEIJING—China accused the U.S. of launching “the largest trade war in economic history,” forcing China to counterattack.
Read More
U.S., China Dig In for Long Trade War as Tariffs Take Effect - WSJ
The U.S. and China slapped levies on $34 billion of each other’s exports, the first tangible shots in a trade battle that both sides are bracing to fight for months—if not years.
Read More
China keeps LNG off tariff list for now, could be trade weapon later | Reuters
BEIJING (Reuters) - China’s omission of liquefied natural gas (LNG) from its vast list of U.S. products that face hefty import duties from Friday has preserved a potential weapon should the trade war with Washington deepen.
Read More
In Tariff Fight With Trump, China Scraps Plan to Strike First - WSJ
BEIJING—As the U.S. and China gear up to slap each other with tariffs Friday, Beijing’s leadership faced the thorny question of whether to strike first, or let Washington take the lead.
Read More
China warns U.S. is 'opening fire' on the world with tariff threats | Reuters
BEIJING (Reuters) - The United States is “opening fire” on the world with its threatened tariffs, China warned on Thursday, saying no one wants a trade war but it will respond the instant U.S. measures go into effect, as Beijing ramped up the rhetoric in the heated dispute.
Read More
Trump set to deny China Mobile access to US market | Financial Times
The Trump administration has cited national security concerns to deny China Mobile entry into the US, dealing a blow to one of China’s biggest state-owned telecoms providers amid a looming trade war between the two countries.
Read More
China’s Currency Just Hit Its Weakest Point Against the Dollar in Almost a Year - WSJ
The yuan on Tuesday slumped to its weakest value against the U.S. dollar in nearly a year.
Read More
China’s Export Growth to U.S. Abruptly Slows as Tariffs Near
China releases some trade data early, days before U.S. tariffs are set to take effect
Read More
Trump Cites Car-Tariff Threat as Biggest Trade Leverage - WSJ
WASHINGTON—President Donald Trump said he sees his threat to impose global auto tariffs as his biggest weapon to extract concessions from trading partners, shedding more light on his broader trade policy strategy.
Read More
Auto Makers in the U.S., Including Tesla and Ford, Brace for Additional Tariff From China
Beijing is set to impose an extra 25% tariff on American auto imports this week
Read More
ZTE Replaces Board, but Power Structure Remains
Moves come in response to U.S. penalties that have devastated Chinese company’s business
Read More

week26 | 2018

week26 | 2018

CGCC News
Is International Arbitration in China Impartial?
CGCC co-hosts International Arbitration forum with US-China legal representatives
Read More
CGCC 2018 Annual Member Meeting Held in Washington DC Welcome New Board Members
Read More
Weekly Headlines
China defends WTO record as it takes aim at US tariffs | Financial Times
China has defended its record at the World Trade Organization, presenting itself as a responsible partner in international commerce as the US distances itself from multilateral institutions.
Read More
Trade War Punctures China’s Pride in Its Technology - WSJ
BEIJING—To the list of casualties in the trade battle between the U.S. and China add another: Chinese chest-thumping about the country’s prowess in innovation.
Read More
China eases foreign ownership curbs as trade war looms | Financial Times
China has cut the number of industrial sectors closed to foreign investment as Beijing tries to appeal to international businesses ahead of a looming trade war with the US.
Read More
China's BYD launches world's biggest battery factory | Reuters
SHANGHAI (Reuters) - Chinese electric carmaker BYD Co Ltd has opened a new lithium battery plant in the northwestern province of Qinghai, which will be the world’s biggest when construction is fully completed next year, it said on Thursday.
Read More
Why Investors Aren’t Worried China Will Weaponize Its Treasurys Hoard - WSJ
Intensifying trade tensions have U.S. investors parsing China’s possible responses to the latest Trump administration salvos, concerned about everything from escalating tariffs to currency devaluation.
Read More
China Sends Yuan to Fresh Six-Month Low
The currency’s value has also started to weaken not just against the dollar, but on a global basis
Read More
GE Narrows Focus to Power, Aviation in Latest Revamp - WSJ
General Electric Co. unveiled plans Tuesday to shed two big business units, the culmination of a drastic effort to revitalize what once was one of the U.S.’s largest and most-valuable companies.
Read More
Renminbi weakens past Rmb6.6 per dollar | Financial Times
The renminbi weakened past the Rmb6.6 per dollar mark for the first time in six months on Wednesday amid expectations that China’s central bank will move to prevent it from falling too far.
Read More
Trump Eases Demand for New Tools to Limit Chinese Investment - WSJ
WASHINGTON—President Donald Trump suggested he would scrap plans for new restrictions on Chinese investment in U.S. technology and rely mainly on existing tools that some of his advisers have labeled inadequate to guard against the purchase—and theft—of innovations vital to the U.S. economy.
Read More
U.S. Stocks Fall as Trade-War Fears Rattle Markets
U.S. stocks tumbled on Monday but later pared declines as investors grappled with conflicting messages from senior White House officials on the future of trade policy between the world’s two biggest economies.
Read More
U.S. Investment Restrictions Won’t Name China but Will Apply Broadly, Mnuchin Says - WSJ
WASHINGTON—Treasury Secretary Steven Mnuchin said that the Treasury Department’s proposed investment restrictions, part of the ongoing trade battle against China, won’t specifically name Beijing but will target “all countries that are trying to steal our technology.”
Read More
China’s Xi Tells CEOs He’ll Strike Back at U.S. - WSJ
BEIJING—Chinese President Xi Jinping is responding to the Trump administration’s trade-clash escalations with a bare-knuckle approach that makes a bruising fight more likely.
Read More
China’s Meituan-Dianping Files for IPO, Reveals Loss of Nearly $3 Billion in 2017
The company is targeting a valuation of more than $60 billion, sources say
Read More
China Eases Credit Policy as U.S. Tariffs Near
Cut in reserve requirement is meant to support growth as expansion slows and a trade war heats up
Read More
Trump Plans New Curbs on Chinese Investment, Tech Exports to China
Treasury is crafting rules that would block firms with at least 25% Chinese ownership from buying companies involved in ‘industrially significant technology’
Read More

week25 | 2018

week25 | 2018

CGCC News
CGCC Released 2018 Business Survey Report on Chinese Enterprises in the U.S.
On June 20, the China General Chamber of Commerce-USA (CGCC) and CGCC Foundation released 2018 Business Survey Report on...
Read More
Secretary Wilbur Ross: We Are Hopeful to Reach Mutually Beneficial Solutions to Help Both Economies Grow
On June 20th, China General Chamber of Commerce – USA (CGCC) hosted the 2018 SelectUSA Reception in Washington, DC. Wilb...
Read More
Weekly Headlines
Meituan Wants to Be the Grubhub of China
BEIJING—China’s burgeoning middle class, which increasingly is going online for everything from ordering lunch to booking hotel rooms, is fueling expectations that an 8-year-old startup with an innovative smartphone app will go public at a lofty $60 billion valuation this year.
Read More
OPEC inches closer to boosting oil output as Iran hints cartel is ‘cooking’ up a deal
OPEC appeared to be on the brink of raising oil supply on Friday, after de-facto leader Saudi Arabia looked to have convinced arch-rival Iran to cooperate over production policy.Energy ministers have been laying the groundwork all week for Friday's biannual meeting in Vienna, Austria, where OPEC is expected to ease supply constraints that have been in place since January 2017.
Read More
Daimler Issues Profit Warning as Chinese Tariffs Hit U.S.-Built SUVs - WSJ
BERLIN—The escalating trade war between the U.S. and China has claimed an unintended victim: Germany’s premium car manufacturer, Daimler AG.
Read More
China's Xiaomi secures seven cornerstone investors for $6.1 billion Hong Kong IPO | Reuters
HONG KONG (Reuters/IFR) - Chinese smartphone maker Xiaomi Corp has lined up $548 million from seven cornerstone investors including U.S. chipmaker Qualcomm Inc for its Hong Kong IPO of up to $6.1 billion, according to a term sheet seen by Reuters.
Read More
EU to Begin Retaliatory Tariffs Against U.S. on Friday - WSJ
BRUSSELS—The European Union will start imposing retaliatory tariffs on U.S. goods on Friday, in response to President Donald Trump’s duties on steel and aluminum imports from the bloc.
Read More
Chinese investment in the United States has plummeted 92% this year
Chinese investment in the United States nosedived in the first five months of 2018 amid mounting tensions between the world's two largest economies.
Read More
China trade war could permanently scar U.S. soybean market: Braun | Reuters
CHICAGO (Reuters) - As the trade fight between the United States and China escalates, many agriculture market participants have taken comfort in the idea that China cannot fulfill its soybean needs without importing massive quantities of the U.S. product.
Read More
Markets Begin to Take Threat of Trade War Seriously - WSJ
Global stocks, commodities and bond yields tumbled Tuesday, the starkest sign yet of investors betting tensions between the U.S. and China could escalate into a trade war.
Read More
Risk of Chinese Currency Devaluation Rises With Latest Tariffs Threat - WSJ
The Trump administration’s threat to slap tariffs on another $200 billion in Chinese goods has reignited fears that Beijing will turn to a powerful but risky weapon: a depreciation of its currency.
Read More
Exclusive: China's Xiaomi cuts valuation after pulling mainland offering: sources | Reuters
HONG KONG/SHANGHAI (Reuters/IFR) - Chinese smartphone maker Xiaomi has lowered its likely valuation to between $55 billion and $70 billion following its decision to delay its mainland share offering until after its Hong Kong IPO, three sources with direct knowledge of the matter said.
Read More
Senate votes to block Trump’s relief for ZTE | Financial Times
The US Senate has voted to block Donald Trump’s deal with ZTE, which had allowed the Chinese telecoms equipment maker to resume operations after a month-long hiatus.
Read More
Donald Trump Threatens New Tariffs on $200 Billion in China Imports - WSJ
WASHINGTON—President Donald Trump escalated a trade conflict with China Monday, asking his administration to identify a new list of $200 billion in Chinese goods that would be penalized with tariffs.
Read More
China's tariffs on U.S. oil would disrupt $1 billion monthly business | Reuters
SINGAPORE (Reuters) - China’s threat to impose duties on U.S. oil imports will hit a business that has soared in the last two years, and which is now worth almost $1 billion per month.
Read More
China Issues Retaliatory Tariffs as Trade Fight Heats Up
Beijing retaliated against planned U.S. tariffs on Chinese goods by targeting high-value American exports—including farm products, cars, and crude oil—bringing the world’s two biggest economies closer to an all-out trade war.
Read More
Google to invest $550 million in Chinese e-commerce giant JD.com | Reuters
SINGAPORE (Reuters) - Google will invest $550 million in Chinese e-commerce powerhouse JD.com, part of the U.S. internet giant’s efforts to expand its presence in fast-growing Asian markets and battle rivals including Amazon.com.
Read More

week24 | 2018

week24 | 2018

CGCC News
CGCC Foundation sponsored Chinese Kunqu Opera Performance in New York
CGCC Foundation sponsored the signature Kunqu Opera show of “Peony Pavilion” on June 10. CGCC members enjoyed this fanta...
Read More
Weekly Headlines
Foreign Investors Are Biggest Buyers of Chinese Government Debt - WSJ
SHANGHAI—Foreign investors have emerged as the biggest buyers of government bonds in China’s domestic market this year, a surprise development that is largely due to the inclusion of Chinese bonds in a major global index and the yuan’s resilience.
Read More
China’s Investors Pour Into Western Biotech Startups - WSJ
Fledgling biotechs and medical-technology startups in the U.S. and Europe have found a new source of funding for their costly research: China.
Read More
Trump approves US tariffs on $50bn in Chinese imports | Financial Times
US president Donald Trump has decided to impose tariffs on about $50bn in imports from China, in a move due to be announced on Friday that will bring the world’s two largest economies closer to a trade war.
Read More
Exclusive: China's Lufax targets $2 billion in fresh funding amid IPO delay - sources | Reuters
HONG KONG (Reuters/IFR) - China’s Lufax aims to raise up to $2 billion in fresh funding, valuing one of the country’s largest online wealth management platforms at $40 billion, as it opts for private investment ahead of a delayed listing, said people familiar with the deal.
Read More
Fed Raises Interest Rates, Sets Stage for Two More Increases in 2018 - WSJ
WASHINGTON—Federal Reserve officials signaled Wednesday they could pick up the pace of interest-rate increases this year and next to keep a rapidly expanding economy on an even keel.
Read More
U.S. Prepares to Proceed With Tariffs on Chinese Goods
The Trump administration, deepening its global trade offensive, is preparing to levy tariffs on tens of billions of dollars of Chinese goods in the coming week, perhaps as early as Friday—a move that is likely to spark heavy retaliation from Beijing.
Read More
Wall Street Firms Face a New $15 Billion Hurdle in China - WSJ
BEIJING—China’s promise to liberalize access to its fast-evolving securities markets comes with a new hurdle for Wall Street firms, leaving them uncertain about meeting hefty asset requirements to do business in the world’s second-largest economy.
Read More
Tesla to cut 9% of jobs in 'difficult but necessary' reorganization
Tesla told employees Tuesday it will cut about 9 percent of its workforce, trimming mostly salaried positions.
Read More
AT&T’s Time Warner Takeover Wins Judge’s Approval in Defeat for Justice Dept.
WASHINGTON — A federal judge on Tuesday approved the blockbuster merger between AT&T and Time Warner, rebuffing the government’s effort to stop the $85.4 billion deal, in a decision that is expected to unleash a wave of corporate takeovers.
Read More
Senators Move to Sink Trump’s ZTE Deal - WSJ
美国共和党参议院领袖罕见地向总统特朗普(Donald Trump)发难,定于本周发起表决,这次表决料将推翻白宫令中国通讯企业中兴通讯股份有限公司(ZTE Corp., 简称:中兴通讯)恢复业务的交易。
Read More
Huawei patent case shows Chinese courts' rising clout | Reuters
(Reuters) - A smartphone patent fight between Huawei Technologies Co Ltd and Samsung Electronics Co (005930.KS) could reach a global resolution through a ruling by a Chinese court, a development that reflects the growing attractiveness of China as a quick and effective forum for intellectual property disputes.
Read More
Trump, Kim agree on denuclearization, but deal seen symbolic | Reuters
SINGAPORE (Reuters) - U.S. President Donald Trump and North Korean leader Kim Jong Un pledged on Tuesday to work toward complete denuclearization of the Korean peninsula while Washington committed to provide security guarantees for its old enemy.
Read More
G7 left reeling after Trump’s last-minute reversal
With a single tweet from Air Force One, Donald Trump torpedoed weeks of painstaking diplomacy and drove a wedge deeper between the US and the G7 countries that traditionally consider themselves Washington’s closest allies.
Read More
China Oceanwide’s $2.7 Billion Takeover of Genworth Financial Passes U.S. Security Review
A U.S. national security panel approved a Chinese conglomerate’s $2.7 billion takeover of Richmond, Va.-based insurer Genworth GNW 2.42% Financial Inc., after the companies convinced authorities they would take extraordinary steps to secure Americans’ personal data.
Read More
History beckons for Trump and Kim
Donald Trump and Kim Jong Un are the unlikeliest of statesmen, but fate has thrown the US President and the North Korean tyrant an opportunity granted to few historic figures -- together they can change the world.
Read More

week23 | 2018

week23 | 2018

CGCC News
CGCC-DC Members Kicking Off Summer with Team-Building Cookout
Members of China General Chamber of Commerce – Washington D.C. Chapter gathered at Burke Lake Park in Fairfax, Virginia ...
Read More
Weekly Headlines
After Scrutinizing Facebook, Congress Turns to Google Deal With Huawei - WSJ
Members of Congress have begun scrutinizing Google’s relationship with China’s Huawei Technologies Co.—roping another Silicon Valley giant into Washington’s escalating digital cold war with Beijing.
Read More
China's ZTE apologizes, pledges reboot after agreeing to pay $1 billion fine to US
The chairman of ZTE apologized to staff and customers on Friday after the Chinese technology firm agreed to pay a $1 billion fine to the United States to end a ban that has crippled key businesses, including smartphones.
Read More
G7 leaders set to clash with combative Trump over tariffs, trade | Reuters
QUEBEC CITY (Reuters) - Leaders of the Group of Seven rich nations are set to clash with a combative U.S. President Donald Trump on Friday when they pressure him to lift sanctions on steel and aluminum they fear could lead to a trade war.
Read More
Foreign investment slump worse than thought and facing new risks, U.N. says
GENEVA (Reuters) - Global foreign direct investment (FDI) fell by almost a quarter to $1.43 trillion last year and the outlook is clouded by risks including trade wars and debt, the United Nations trade and development agency UNCTAD said on Wednesday.
Read More
EU presses ahead with retaliation to US steel tariffs
The EU has confirmed plans to target €2.8bn of US products with extra tariffs as it prepares its retaliation against Donald Trump’s move to hit European steel and aluminium with punitive duties.
Read More
U.S. Trade Is Trump’s Main Focus at G-7 Gathering
President Donald Trump, heading into this weekend’s meeting of the Group of Seven industrialized nations, has signaled his intention to continue pursuing an aggressive trade agenda even if it comes at the expense of America’s standing in the world.
Read More
Exclusive: China's ZTE signed preliminary agreement to lift U.S. ban: sources | Reuters
(Reuters) - ZTE Corp (000063.SZ) has signed an agreement in principle that would lift a U.S. Commerce Department ban on buying from U.S. suppliers, allowing China’s No. 2 telecommunications equipment maker to get back into business, according to sources familiar with the matter.
Read More
How China’s Yuan Is Outperforming Major Currencies
China’s yuan has outperformed other major currencies against the U.S. dollar over the past six months, against a backdrop of ongoing trade concerns and heightened stock volatility. But the yuan’s resilience might not last long, as the greenback makes a comeback.
Read More
China Offers to Buy Nearly $70 Billion of U.S. Products to Fend Off Trade Tariffs
China offered to purchase nearly $70 billion of U.S. farm, manufacturing and energy products if the Trump administration abandons threatened tariffs, according to people briefed on the latest negotiations with American trade officials.
Read More
Chinese State-Owned Developer Pulls Out of San Francisco Project
A major Chinese state-owned property developer has pulled out of a large-scale biotech industrial park project in San Francisco, becoming the latest Chinese firm to scale  back ambitious real-estate investments in the U.S.
Read More
China pushes state banks into home rental market at their own risk
As property prices rocket across China, Beijing has appealed to the country’s banks and insurers to help accelerate the development of rental markets as a way of making homes more affordable – and rein in speculative sale markets.
Read More
Koch-Financed Groups Launch Campaign to Halt U.S. Import Tariffs
WASHINGTON—Three organizations financed by conservative billionaire industrialists Charles and David Koch are launching a multimillion-dollar campaign against President Donald Trump’s tariffs on imports.
Read More
Trade Tensions Intensify as Allies Rebuke U.S., Testing Trump Ahead of G-7
Trump administration shows no sign of backing down from tariffs in face of pushback
Read More
China Launches Probe of Foreign Chip Makers
Micron Technology of the U.S. and Samsung Electronics and SK Hynix of South Korea say they are cooperating, but don’t say what the investigation is about
Read More
U.S., China End Latest Trade Talks Without Settlement
The U.S. and China moved closer to imposing tariffs on one another as negotiators made little progress in talks and Beijing threatened that it won’t abide by a deal on farm and other products if the U.S. goes ahead with sanctions.
Read More

week22 | 2018

week22 | 2018

CGCC News
CGCC met with Japanese Chamber of Commerce and Industry of New York
Read More
CGCC Hosted “Global Partnership & Global Innovation: China and Israel”
Read More
Weekly Headlines
US presses China to sign long-term import contracts
Washington is pressing Beijing to enter into multiyear contracts to buy US agricultural and energy imports as part of a broader trade deal aimed at reducing the $337bn bilateral trade deficit with China.
Read More
China Cuts Tariffs Ahead of U.S. Commerce Secretary’s Visit to Beijing
China announced Thursday evening that it would cut tariffs sharply on July 1 for an eclectic array of imported goods, the latest in a series of moves by Beijing to dismantle steep trade barriers at a time of rising frictions with the United States.
Read More
White House to Impose Metal Tariffs on E.U., Canada and Mexico
WASHINGTON — The Trump administration said on Thursday that it would impose steep tariffs on metals imported from its closest allies, provoking retaliation against American businesses and consumers and further straining diplomatic ties tested by the president’s combative approach.
Read More
Beijing agrees to loosen foreign investment ‘negative list’
Beijing said it would issue a list of planned relaxations on foreign investment by June 30, meeting a key US demand just 48 hours before US commerce secretary Wilbur Ross is due in Beijing to lead a third round of trade talks with vice premier Liu He.
Read More
China says reserves right to retaliate to U.S. actions against its investments | Reuters
BEIJING (Reuters) - The United States’ measures against China’s investments are against World Trade Organization rules, and China reserves the right to take countermeasures, the commerce ministry said on Thursday.
Read More
What is China's A-share MSCI inclusion on June 1? | Reuters
SHANGHAI (Reuters) - Global market research and index company MSCI Inc will add roughly 230 China-listed shares to its emerging market benchmark in a two-step process starting on June 1, a move expected to drive a surge of foreign money into the country’s stock markets.
Read More
Why Italy’s Political Turmoil Is Causing Financial Angst Elsewhere
Italy’s political convulsions have raised new fears about the future of the euro, the single currency of the European Union that was introduced 16 years ago.
Read More
U.S. Tariff Threat Could Scuttle Planned Trade Talks With China
The White House’s surprise decision to move forward with tariffs and other sanctions against China threatens to derail trade talks scheduled for this weekend, according to people with knowledge of the matter on both sides.
Read More
U.S. Moves Ahead on China Trade Curbs, Catching Beijing Off Guard - WSJ
The Trump administration sent a sudden, harsh message to its Chinese counterparts, saying the U.S. was moving forward with its threat to apply tariffs on Chinese imports and other actions to restrict Beijing from accessing sensitive U.S. technology.
Read More
ZTE sidelines two more senior executives amid US-China negotiations on export ban | South China Morning Post
ZTE Corp has sidelined two senior executives amid ongoing negotiations between the US and China over an export ban that has threatened the survival of the Chinese telecommunications equipment supplier, according to people familiar with the matter.
Read More
Chinese buyers find tight U.S. sorghum supply after trade spat | Reuters
CHICAGO (Reuters) - Chinese grain merchants seeking to resume purchases of U.S. sorghum after an anti-dumping probe by Beijing that had halted trade between the world’s biggest buyer and seller of the grain are now finding supplies tight, according to dealers.
Read More
U.S. and China clash over 'technology transfer' at WTO | Reuters
GENEVA (Reuters) - Chinese and U.S. envoys sparred at the World Trade Organization on Monday over U.S. President Donald Trump’s claims that China steals American ideas, the subject of two lawsuits and a White House plan to slap huge punitive tariffs on Chinese goods.
Read More

week21 | 2018

week21 | 2018

CGCC News
CGCC and Its Member Companies Met with The Governor of Kentucky to Discuss Business Cooperation
Read More
Rethinking the Role of Chinese State-owned Companies in the US Market
Steven Tan Xu, President of China Telecom (Americas) Corporation, discusses the company's global strategy
Read More
Weekly Headlines
Ross Plans to Visit China June 2-4 for Next Round of Trade Talks
U.S. Commerce Secretary Wilbur Ross is scheduled to visit China June 2-4 to continue trade discussions with Vice Premier Liu He.
Read More
Trump Signs Banking Bill, Adding to Regulators’ To-Do List
Sixteen months after Donald Trump took office, financial regulators have a crowded to-do list. It grew even longer Thursday, as the president signed into law a bipartisan bill enacting some long-sought changes to the industry rule book.
Read More
Trump Pulls Out of North Korea Summit Meeting With Kim Jong-un
President Trump on Thursday pulled out of a highly anticipated summit meeting with Kim Jong-un, accusing the North Koreans of bad faith and lamenting that “this missed opportunity is a truly sad moment in history.”
Read More
China Inc returns to U.S. soybean market as trade tensions ease | Reuters
BEIJING/SINGAPORE (Reuters) - China’s state grain stockpiler has returned this week to the U.S. soybean market for the first time since early April, a sign Beijing is preparing to resume purchases as trade tensions between the world’s top two economies ease, two sources said.
Read More
Trump Administration Looks Into New Tariffs on Imported Vehicles - WSJ
WASHINGTON—The Trump administration is using national-security laws to consider imposing new tariffs on vehicle and auto-parts imports, the Commerce Department said Wednesday.
Read More
US disinvites China from multinational military exercise
The Pentagon says it has uninvited China from a multinational military exercise to be held this summer in the Pacific.
Read More
Trump Backs Away From Demand for Immediate North Korean Denuclearization
President Trump opened the door on Tuesday to a phased dismantling of North Korea’s nuclear weapons program, backing away from his demand that the North’s leader, Kim Jong-un, completely abandon his arsenal without any reciprocal American concessions.
Read More
Bank Deregulation Bill Clears Congress
Congress took a big step Tuesday to relax a wave of crisis-era restrictions placed on financial firms, as the House approved a plan to ease rules for small and midsize banks.
Read More
Congressional Opposition Mounts Over White House Approach to Chinese Tech Deals
Lawmakers are moving to thwart Trump administration efforts to ease restrictions on Chinese telecommunications giant ZTE Corp. and other sensitive technology, citing fears the positions would compromise national security in the latest twist in trade negotiations between the world’s largest economies.
Read More
Chinese Tech Unicorns Try a Different Approach to Raising Cash - WSJ
After multiple rounds of fundraising, some of China’s most valuable private technology companies are turning to a less common way of raising capital: Issuing convertible securities.
Read More
China says it will cut tariffs on some auto parts and vehicles
China's Finance Ministry said that it will cut import tariffs on some vehicles to 15 percent, down from as much as 25 percent.
Read More
U.S., China Agree on Outline to Settle ZTE Controversy - WSJ
The U.S. and China have agreed on the broad outline of a deal that would save imperiled Chinese telecom giant ZTE Corp., according to people with knowledge of the matter in both countries, as the two sides move closer to resolving their trade dispute.
Read More
UPDATE 1-China will actively and steadily deleverage, tackle risks -sources | Reuters
China will “actively and steadily” deleverage and tackle financial risks, sources said on Monday, underscoring concerted efforts by Beijing to defuse a potentially damaging economic fallout from years of cheap money and loose lending practices.
Read More
Treasury, USTR Send Mixed Messages Over Tariffs on Chinese Imports​
The Treasury secretary and the administration’s top trade official took markedly different positions over whether the U.S. will move forward with tariffs on Chinese imports, punctuating several days of negotiations between the world’s two biggest economies with a question mark.
Read More
US and China step back from brink of trade war
The US has stepped back from the brink of a trade war with China after Washington halted plans to impose tariffs on up to $150bn of imports, according to the US Treasury secretary.
Read More

week20 | 2018

week20 | 2018

CGCC News
CGCC Provides Testimony at Public Hearing on the Proposed Section 301 Tariffs on Chinese Imports and Voices for the Legal Rights and Interests of Chinese Enterprises
China General Chamber of Commerce-USA (CGCC) provided oral testimony at the public hearing in Washington D.C. held by Se...
Read More
Weekly Headlines
China, Signaling Thaw With U.S. Over Trade, Approves Toshiba Microchip Deal
In a prelude to an easing of trade tensions between Washington and Beijing, Chinese officials ended a monthslong delay by approving Toshiba’s sale of a majority stake in its lucrative microchip unit to an American-led group.
Read More
China retreats from U.S. sorghum probe amid global market havoc | Reuters
BEIJING (Reuters) - China dropped its anti-dumping probe into imports of U.S. sorghum on Friday, beating a hasty retreat from a dispute that wreaked chaos across the global grain market and raised concerns about rising costs and financial damage at home.
Read More
China Casts Doubt on Report of $200 Billion Trade Deficit Offer - Bloomberg
China cast doubt on reports that it had offered to reduce its annual trade surplus with the U.S. by $200 billion through increased imports of American products.
Read More
China vice premier says proactively seeking resolutions on trade dispute with U.S.: Xinhua | Reuters
BEIJING (Reuters) - China’s Vice Premier Liu He said China was proactively seeking appropriate resolutions on the trade dispute with the United States during his visit of Washington, official Xinhua News Agency reported on Thursday.
Read More
China's outbound investment continues rapid growth - Xinhua | English.news.cn
BEIJING, April 16 (Xinhua) -- China's non-financial outbound direct investment (ODI) continued to see double-digit growth in the first quarter of the year, official data showed Monday.
Read More
Trump Says ‘There Has Been No Folding’ Over Possible ZTE Deal - WSJ
WASHINGTON—President Donald Trump sought to counter criticism of his administration’s efforts to ease tough U.S. penalties on Chinese telecommunications giant ZTE Corp.
Read More
U.S. Could ‘Fatally Undermine’ the WTO: China's Ambassador - Bloomberg
The Trump administration is delivering the World Trade Organization “three hard blows” that could destroy the body’s ability to regulate global commerce, China’s ambassador to the Geneva-based body said.
Read More
Why Chinese Vice-Premier Liu He has the most difficult job in the US-China trade talks | South China Morning Post
When China’s vice-premier, Liu He, set off for Washington on Tuesday to resume talks to avert a much-dreaded trade war, he was facing a difficult challenge.
Read More
Nation stays on solid growth path in April - Chinadaily.com.cn
China's economic growth momentum held up in April despite slowing fixed-asset investment and retail sales growth, with analysts expecting the nation's policy stance to remain unchanged in the coming months.
Read More
U.S., China still 'very far apart' on trade: U.S. ambassador
The United States wants China to give a timetable on how it will open up its markets to U.S. exports as the two countries are still “very far apart” on resolving trade frictions, U.S. Ambassador to China Terry Branstad said on Tuesday.
Read More
U.S., China Discussing Deal on ZTE, Agricultural Tariffs
The U.S. and China are closing in on a deal that would give China’s ZTE Corp. a reprieve from potentially crippling U.S. sanctions in exchange for Beijing removing tariffs on billions of dollars of U.S. agricultural products, said people in both countries briefed on the deal.
Read More
Senators ditch plan to review US outbound investments
Senior senators have ditched a controversial plan that would have made US companies’ outbound investments to China and other countries potentially subject to national security reviews, after months of lobbying by General Electric and IBM.
Read More
U.S. Businesses to Make Their Case Against China Tariffs
In hearings, U.S. trade representative’s office expects to hear complaints, but some manufacturers support proposed duties
Read More
JPMorgan applies to set up majority-owned securities business in China
JPMorgan Chase & Co said on Monday it has applied to China’s securities regulator to set up a securities business in which the U.S. bank would own a majority stake under recently relaxed ownership rules.
Read More
Trump Extends Lifeline to Sanctioned Tech Company ZTE
President Donald Trump said he was working with Chinese President Xi Jinping to keep ZTE Corp. in business, throwing an extraordinary lifeline to the Chinese telecommunication giant that has been laid low by U.S. moves to cut off its suppliers.
Read More

week19 | 2018

week19 | 2018

Weekly Headlines
News Corp chief urges governments to review tech algorithms
The head of News Corp has called for governments to create an “algorithm review board” to keep tech companies in check, the latest in a long line of attacks on internet platforms from Rupert Murdoch’s media group.
Read More
US-China trade tensions cast doubt over Liu He visit
China’s vice-premier Liu He’s trip to Washington next week for a second round of Sino-US trade talks might be delayed because of continuing rifts in the Trump administration and unfinished preparatory discussions, according to people briefed on the planned negotiations.
Read More
Spoiled Relations: U.S. Goods Stuck at China Ports as Tensions Heat Up
Ford cars and California fruits are among the goods piling up at Chinese ports, the result of increased inspections that business groups say is China’s way of reminding the U.S. how important its market is to American exporters.
Read More
China credit spreads near 2-year highs on default worries
China credit spreads hit their widest level in nearly two years this week following new regulations that undermined long-held assumptions about implicit guarantees on debt linked to local governments.
Read More
China's ZTE says main business operations cease due to U.S. ban | Reuters
ZTE Corp’s main business operations have ceased due to a ban imposed by the U.S. government, but China’s second biggest telecom equipment maker is trying to have the ban modified or reversed, it said on Wednesday.
Read More
US-China trade tensions increase after import delays
Chinese inspectors are delaying imports of US agricultural products, luxury automobiles and even pet food, exacerbating tensions just days before bilateral trade talks are scheduled to resume.
Read More
Trump, China's Xi discuss trade ahead of talks next week
U.S. President Donald Trump and Chinese President Xi Jinping discussed ongoing trade issues on Tuesday, as both sides continue to position themselves amid a heated feud over tariffs between the world’s two largest economies.
Read More
Trump’s China trade adventures far riskier than his Nafta ones
For those staring into the vast chasm that is the gap between the US and China on trade that was laid bare on Friday and looking for hope, there was really only one thing to seize on. US president Donald Trump has laid out extreme demands and promised extreme responses before. Yet, in his almost 16 months in office, he has so far only rarely delivered them.
Read More
China Plans New Risk-Management Rules for Financial-Services Firms
China is drafting new rules to rein in businesses offering multiple financial services after runaway growth in recent years has left regulators without a firm handle on their risks to the economy.
Read More
China April exports bounce back more than expected despite U.S. trade brawl
BEIJING (Reuters) - China’s exports rebounded more strongly than expected in April after a surprise drop the previous month, suggesting global demand remains relatively resilient and providing a cushion to the economy amid a heated trade dispute with the United States.
Read More
Mattis urges anti-China measure to be included in U.S. defense bill
Defense Secretary Jim Mattis urged top lawmakers shepherding a must-pass defense bill through Congress to include measures that would tighten oversight of foreign investment in the United States in hopes of hampering Chinese efforts to gain access to sensitive U.S. technology.
Read More
Xi's Top Economic Adviser to Visit U.S. on Trade Mission
Chinese President Xi Jinping’s top economic adviser plans to visit Washington for follow-up trade talks after Trump administration officials traveled to Beijing last week, according to the White House.
Read More
ZTE asks U.S. Commerce Department to suspend business ban
China’s ZTE Corp (0763.HK) (000063.SZ) has submitted an application to the U.S. Commerce Department’s Bureau of Industry and Security (BIS) for the suspension of a business ban, it said in a filing to the Shenzhen stock exchange on Sunday.
Read More
Scientists in China Race to Edit Crop Genes, Sowing Unease in U.S.
Chinese-owned Syngenta makes strides in new technologies to alter plant DNA, as U.S. farmers worry that cutting-edge agricultural science is shifting East
Read More
U.S. Jobless Rate Falls Below 4% For First Time Since Late 2000
Unemployment in the U.S. fell in April to one of the lowest levels of the post-World War II era, the result of a historically long jobs expansion that shows little evidence of slowing.
Read More

week18 | 2018

week18 | 2018

CGCC News
2018 China-California Business Summit Held in Los Angeles
The 3rd annual, 2018 California-China Business Summit (CA-China Business Summit) was held in Los Angeles on May 3rd at t...
Read More
CGCC hosted 2018 Lunch & Learn Series No.2 “China and U.S. Business Etiquette in the #MeToo Era”
Read More
Weekly Headlines
China Is Already Canceling U.S. Soybean Orders
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
Read More
U.S.-China Trade Talks End With Key Differences Still Unresolved
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
Read More
US demands China cut trade deficit by $200bn
The US has demanded that China slash tariffs, reduce the bilateral trade deficit and eliminate state subsidies for strategic industries, as Washington staked out a hardline position in negotiations that concluded in Beijing on Friday.
Read More
Trump Trade Officials Will Present a Hard Line in China, but Internally They Are Divided
Top Trump administration officials are arriving in China this week armed with tough talk about Beijing’s need to change its trade practices. But within the United States delegation there is little consensus about what concessions America should try to extract — or the best approach to getting the Chinese to agree.
Read More
White House Considers Barring Chinese Telecom Sales as Tensions Mount
The Trump administration is considering executive action to further restrict the sale of Chinese telecommunications equipment in the United States, people briefed on the discussions said, in a move that could ratchet up tensions between China and the United States as the countries vie for technological dominance.
Read More
Xiaomi’s Hong Kong IPO Is Expected to Be World’s Biggest This Year
Xiaomi Corp., one of China’s top smartphone makers, said it would launch its initial public offering in Hong Kong—bringing to the city what is expected to be the world’s biggest IPO this year.
Read More
White House Considers Restricting Chinese Researchers Over Espionage Fears
WASHINGTON — It sounds like something out of a science fiction movie: In April, China is said to have tested an invisibility cloak that would allow ordinary fighter jets to suddenly vanish from radar screens.
Read More
Ross Softens Expectations for a U.S.-China Trade Deal This Week
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
Read More
China’s Biggest Tech Unicorns Stampede to Go Public
An unprecedented wave of Chinese technology companies is accelerating plans to raise money from the global capital markets, hoping to leverage investors’ optimism about the sector and lock in buoyant stock valuations.
Read More
Trump Postpones Steel Tariff Decision for EU, Other U.S. Allies
President Donald Trump eased trade pressure on top U.S. allies Monday, giving the European Union and some nations outside the bloc more time to negotiate deals that would exempt them from U.S. steel and aluminum tariffs.
Read More
Exclusive: U.S. Treasury meets business groups on Chinese investment bill
U.S. Treasury officials met with about 10 industry groups on Monday to discuss the latest draft of legislation that would tighten scrutiny of foreign investment in order to limit Chinese efforts to acquire sophisticated U.S. technology, four sources familiar with the meeting said.
Read More
China Is Set to Take a Hard Line on Trump’s Trade Demands
Staking an assertive negotiating stance, China says it will refuse to discuss President Trump’s two toughest trade demands when American officials arrive in Beijing this week, potentially derailing the high-level talks.
Read More
China's Baidu to sell majority of financial services unit for $1.9 billion
China’s Baidu Inc said it will sell a majority stake in its financial services business for about $1.9 billion to a consortium led by TPG Capital Management LP [TPG.UL] and Carlyle Group LP, as it seeks funding to take on established fintech firms in China.
Read More
U.S. economy slows in first quarter, but wage growth accelerates
The U.S. economy slowed in the first quarter as consumer spending grew at its weakest pace in nearly five years, but a surge in wages amid tightening labor market conditions and lower tax rates suggested the setback is likely temporary.
Read More
For China, the American Team of Trade Rivals Won’t Be Easy to Please
China is looking to dazzle a visiting U.S. trade delegation this week, arranging a session with President Xi Jinping and planning pledges to cut tariffs and ease regulations. It will likely take more than that to impress the visiting Americans and head off a looming trade war.
Read More

week17 | 2018

week17 | 2018

Weekly Headlines
Global investors pile into China stocks ahead of MSCI index entry
SHANGHAI (Reuters) - Overseas investors are pumping billions of dollars into Chinese stocks and the country’s asset managers are rushing to launch index-tracking funds in a fervent build-up to China’s inclusion in MSCI’s widely tracked equity benchmarks.
Read More
China urges US to avoid damaging business confidence
China appealed to Washington on Thursday to avoid damaging business confidence following a report that U.S. authorities are investigating whether Chinese tech giant Huawei violated sanctions on Iran amid spiraling technology tensions.
Read More
North Korea’s Kim Jong Un and South Korean Leader to Pursue Peace Deal, Denuclearization
The leaders of North and South Korea agreed to pursue a peace agreement after historic talks on Friday, but largely steered clear of specifics on the question of Pyongyang’s nuclear weapons, leaving uncertainties about the regime’s willingness to cede ground on its arsenal ahead of a meeting between Kim Jong Un and President Donald Trump.
Read More
Boeing to Open Plant in China This Year
Boeing Co. aims to have a new facility in China ready to complete some of its 737 jets by the end of this year, a sign that the aerospace giant is taking trade tensions in stride.
Read More
Beijing Ready to Hit Back if U.S. Curbs Chinese Investments
The U.S. threat of investment restrictions is already damping the enthusiasm of Chinese businesses, with some canceling or slowing plans to invest in the American market, China’s Commerce Ministry said.
Read More
American Express Is Ready to Charge Into China
American Express Co. cleared a hurdle in its yearslong effort to operate in China, potentially becoming the first U.S. card network to receive permission to offer services in the Chinese market.
Read More
Didi Chuxing launches plan to turn car owners to car users
Didi Chuxing, China’s international challenger to Uber, has announced it is designing autonomous and new-energy cars with an alliance of 31 partners with the aim of turning global car owners into car users.
Read More
Yields on 10-Year Treasurys Cross 3% Threshold
Long-term U.S. government bond yields topped 3% for the first time in more than four years, a sign that investors’ confidence in the stability of economic growth is outpacing fears about the longevity of the postcrisis expansion.
Read More
Trump to Send Mnuchin to China for Trade Talks Next Week
President Donald Trump said he was sending a delegation of his top economic advisers to Beijing next week to try to settle trade disputes that have upset U.S.-China relations and rattled markets world-wide.
Read More
In ZTE Battle, U.S. Suppliers Are Collateral Damage
American companies that supply chips, antennas and other gear to ZTE Corp. are bracing for a sizable revenue loss after the U.S. last week said they no longer would be able to sell components to the Chinese telecommunications giant.
Read More
Chinese Investors Are Getting Fed Up With Their Country’s Dollar Debt
Big Chinese investors have pulled back from buying dollar-denominated debt of domestic companies, a factor that is driving up offshore borrowing costs for some Chinese firms.
Read More
Chinese Ride-Hailing Giant Didi Hits Accelerator on Talks for IPO
China’s Didi Chuxing Technology Co., one of the world’s largest ride-hailing companies, is holding discussions about a multibillion-dollar initial public offering that could happen as soon as this year, according to people familiar with the matter.
Read More
A U.S.-China Trade War Would Reshape Tech Investment
Technology has emerged as the early battleground in the U.S.-China trade dispute, triggering predictions of significant changes in the global investment strategies of Chinese tech companies.
Read More
Tencent Music Plans IPO; Valuation Could Exceed $25 Billion
Tencent Music Entertainment Group, China’s largest music-streaming company, is preparing what would be one of the biggest technology IPOs ever following the successful debut of its European counterpart, Spotify Technology SA.
Read More
China and US poised for fresh trade talks
China’s commerce ministry has welcomed the possibility of a visit by US Treasury secretary Steven Mnuchin for trade talks, in a sign that the two economies are entering a negotiation phase after threats of tariffs from both sides.
Read More

week16 | 2018

week16 | 2018

CGCC News
2018 International Finance and Infrastructure Cooperation Forum Held at Bloomberg Headquarters in New York
Read More
Weekly Headlines
ZTE warns US ban could threaten its survival, hurt American firms - CNBC
China's ZTE said Friday that a U.S. ban on exports to the technology firm could threaten its survival and adversely affect American companies.
Read More
Proposed U.S. Tariffs on China Risk Penalizing Manufacturers Unevenly - WSJ
China is a significant source of materials for only a small fraction of products on President Donald Trump’s proposed list of tariffs, but they could disproportionately hit some U.S. manufacturers that depend on Chinese imports by driving up costs and forcing them to raise prices.
Read More
U.S. Weighs Emergency Powers to Curb China Tech Investments - Bloomberg
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
Read More
Tesla Could Benefit From China’s New Rules for Foreign Auto Makers
China’s announcement Tuesday that it will ease its strict joint-venture rules on foreign auto makers could benefit Tesla Inc. TSLA at the same time the Silicon Valley auto maker needs a charge.
Read More
Chinese Money Floods U.S. Biotech as Beijing Chases New Cures
Chinese investors are pumping money into U.S. drug startups as Beijing seeks to become a global leader in new medicines, adding to a flood of cash flowing to groundbreaking health firms.
Read More
US media mogul Michael Bloomberg vows to stop Donald Trump’s trade war with China | South China Morning Post
Former New York City mayor Michael Bloomberg will be in Washington this week to lobby against US President Donald Trump’s plans to impose punitive tariffs on goods from China.
Read More
China’s Central Bank Takes Pre-Emptive Move Against Ebbing Growth Momentum
China’s central bank gave a green light to banks to dig into reserves to lend more, signaling government worries about slowing momentum for economic growth amid rising trade tensions with the U.S.
Read More
U.S. Says Huawei Is a Security Threat, So It’s Backing Off
Huawei Technologies Co. said it plans to refocus on existing markets, following a series of setbacks in the U.S. and as the technology industry gets caught up in the spiraling trade spat between Washington and Beijing.
Read More
China to Ease Rules on Foreign Auto Makers
China’s move to ease trade tensions with the U.S. by scrapping joint-venture rules for auto makers could open a path to higher profits for American car companies, but some said untangling a web of partnerships forged with Chinese companies over decades may prove too difficult.
Read More
China’s Economy Grows, and Its Trade Gap With the U.S. Widens
China’s economy grew at a healthy pace in the first three months of this year, propelled by strong household spending and heavy government investment in infrastructure.
Read More
Chinese Tech Company Blocked From Buying American Components
China’s second-largest maker of telecommunications equipment will not be able to use components made in the United States after the Commerce Department said it failed to punish employees who violated American sanctions against Iran and North Korea.
Read More
U.S. Wants to Retaliate Against China’s Restrictions on American Tech Firms
The U.S. is examining ways to retaliate against Beijing’s restrictions on U.S. providers of cloud computing and other high-tech services, effectively opening a new front on its trade offensive against China.
Read More
‘China’s Hawaii’ set to become pilot free-trade port in next phase of country’s opening up
President Xi Jinping announces grand plan for Hainan that could see it challenging major ports such as Hong Kong and Singapore
Read More
U.S. Offers Compromise on Autos, Boosting Hopes for Nafta Deal
The Trump administration is hammering out a compromise on auto-industry rules at the center of the North American Free Trade Agreement, increasing the chances that the U.S., Mexico and Canada can reach a deal this spring to revise the pact.
Read More
U.S. refrains from labeling China, others as currency manipulators
The Trump administration again refrained from naming any major trading partners as currency manipulators on Friday, but the U.S. Treasury’s semi-annual currency report criticized China for the “non-market direction” of its economy and warned of global risks.
Read More

week15 | 2018

week15 | 2018

CGCC News
Renovation Plans for Lesso Home in Westbury Long Island Announced
Read More
Commentary: Building broader consensus for Asia's shared future
BOAO, China, April 9 (Xinhua) -- "When big rivers have water, the small ones are filled; and when small rivers have wate...
Read More
Commentary: From Davos to Boao, globalization needs boost at defining moment
BOAO, China, April 8 (Xinhua) -- Over a year ago, Chinese President Xi Jinping vigorously defended free trade at the Wor...
Read More
Weekly Headlines
China's trade surplus with U.S. soars in first quarter but March exports falter
China’s trade surplus with the United States surged nearly 20 percent in the first quarter, with some analysts speculating exporters were rushing out shipments to get ahead of threatened tariffs that are spurring fears of a full-blown trade war.
Read More
Trump Asks Advisers to Study Rejoining Pacific Trade Pact Talks
A little over a year after withdrawing the U.S. from the Trans-Pacific Partnership, President Donald Trump has asked his top economic advisers to study the possibility of re-entering the trade pact negotiations.
Read More
White House Plans to Escalate Trade Pressure on China
The Trump White House, confident that its hard-line strategy is succeeding, is planning to ratchet up the pressure on China by focusing on new tariffs and threatening to block Chinese technology investment in the U.S., according to officials familiar with the strategy.
Read More
China’s Commerce Ministry Says Market Opening Is Independent of Trade Dispute
A Chinese government spokesman denied that recently announced policy changes constitute concessions to the Trump administration in the countries’ trade fight.
Read More
China's Ant ups fundraising target, valuation could hit $150 billion: sources
China’s Ant Financial Services Group is in talks with investors to boost its fundraising target to at least $8 billion, which could see its valuation jumping to about $150 billion, people with knowledge of the plan said.
Read More
More Than 100 Trade Groups Oppose China Tariff Plans
The business coalition opposing White House plans to levy tariffs against Chinese goods has doubled to 107 trade groups, ranging from such Washington, D.C. heavyweights as the National Retail Federation and the Security Industry Association to such smaller local groups as the San Diego Customs Brokers Association.
Read More
China speeds up reforms opening finance sector to foreign ownership
Beijing has sped up the pace of ownership reforms for China’s banking, securities, futures, asset management and insurance sectors, shifting the timeline for implementation from years to just months after President Xi Jinping this week pledged further opening up of China’s economy to foreign investment.
Read More
Fed Floats First Major Big-Bank Rule Change of Trump Era
The Federal Reserve proposed retooling capital rules and annual “stress tests” for the largest U.S. financial firms, the first major big-bank rule change of the Trump era.
Read More
Xi Vows Greater Access to China, Warns Against ‘Cold War Mentality’
Chinese President Xi Jinping promised foreign companies greater access to China’s financial and manufacturing sectors, pledging Beijing’s commitment to further economic liberalization amid rising trade tensions with the U.S.
Read More
China's Xi Jinping says tariffs on car imports will be cut this year
Chinese President Xi Jinping on Tuesday said his government would "significantly lower" tariffs on vehicle imports this year as part of efforts to further open its giant economy to the world.
Read More
Jack Ma’s Ant Financial to Raise $9 Billion, Become World’s Biggest Unicorn
Chinese billionaire Jack Ma’s financial-technology business is about to vault into the ranks of the world’s most valuable companies.
Read More
In Trade Fight, China Today Differs From 1980s Japan
The White House is looking at the U.S. trade fight against Japan in the 1980s and 1990s for lessons in its trade battle against China. But the two eras are as striking for their differences as they are for their similarities.
Read More
Trump Officials Soften Tone on Trade Dispute With China
After threatening to slap China with new tariffs, Trump administration officials on Sunday softened some of the rhetoric, noting that the penalties aren’t imminent and there is ample time to work out a deal and step back from a possible trade war.
Read More
China may let the yuan depreciate gradually as a tactical move in its trade war with the US
China is evaluating the potential impact of a gradual yuan depreciation, people familiar with the matter said, as the country’s leaders weigh their options in a trade spat with US President Donald Trump that has roiled financial markets worldwide.
Read More

week14 | 2018

week14 | 2018

CGCC News
CGCC Hosted Closed-door Conversation with CGCC Business Executives
Read More
CGCC Requests Comments from Members Regarding the Results of Section 301 Investigation
Read More
Weekly Headlines
Trump asks US trade rep to consider another $100bn in China tariffs
US President Donald Trump said on Thursday that he had instructed the US trade representative to consider an additional $100bn in tariffs on Chinese imports on top of the measures targeting $50bn worth of goods already proposed. 
Read More
Trade Deficit Hits Near Decade High, Raising Specter of Twin Deficits
The U.S. trade position worsened in February, raising the stakes in the Trump administration’s intensifying effort to narrow the gap between what the U.S. imports and what it sells abroad.
Read More
China ready to defend its interests ‘at any cost’ in trade war after Donald Trump threatens extra tariffs on US$100bn of imports
China warned on Friday that it would escalate its retaliatory measures against the United States and defend its interests “at any cost” after Donald Trump threatened punitive tariffs on an additional US$100 billion worth of Chinese imports.
Read More
US business to Trump: Don't go through with China tariffs
Hours after both the United States and China detailed plans for sweeping tariffs, trade groups warned that a tit-for-tat trade war between the world's two largest economies will have no winners.
Read More
White House Tries to Tamp Down Trade War Fears as China Retaliates
White House officials moved quickly on Wednesday to calm fears of a potential trade war with China, saying the administration’s proposed tariffs were a “threat” that would ultimately help, not hurt, the United States economy, hours after China said it would punish American products with similar levies.
Read More
Boeing Warns on U.S.-China Trade Risk
Boeing said Wednesday it would engage in talks with the U.S. and China in an effort to prevent their trade spat from harming the global aerospace industry.
Read More
U.S. Announces Tariffs on $50 Billion of China Imports
The Trump administration on Tuesday threatened to slap stiff tariffs on some $50 billion in Chinese imports across 1,300 categories of products, unveiling the most aggressive challenge in decades to Beijing’s trade practices.
Read More
China announces wide-ranging retaliation for US tariffs
China has said it will impose tariffs on 106 products originating from the United States, according to an announcement on state television on Wednesday, in response to tariffs on Chinese imports outlined hours earlier by the US.
Read More
Huawei flourishes despite perennial hurdles in US
Huawei is the manifestation of everything the US fears and loathes about China: a high-tech giant, founded by a former army officer, that it believes has ties to the Communist party and the wherewithal to spy and steal intellectual property rights.
Read More
U.S. Pork Producers, Fruit Growers Brace for China Tariffs
The escalating trade tensions between Beijing and Washington have pulled America’s farmers and agricultural exporters into the melee.
Read More
Looming China Trade Action Divides Industry and Roils Markets
President Trump’s promise to take tough action against China’s unfair economic practices was one of his most popular campaign ideas. But as the United States prepares stiff trade measures and China retaliates, stock markets have plummeted and some of America’s biggest companies are pushing back.
Read More
Trump to Nominate Justin Muzinich to Deputy Treasury Secretary Post
President Donald Trump will nominate Justin Muzinich as deputy treasury secretary, the White House said Monday.
Read More
China Retaliates Against Trump Tariffs With Duties on American Meat and Fruit
China imposed tariffs on a range of U.S. goods, following through on a promise to retaliate against the Trump administration’s penalties on imports of Chinese steel and aluminum.
Read More
China’s Huawei Is Determined to Lead the Way on 5G Despite U.S. Concerns
The U.S. government is trying to thwart Huawei Technologies Co.’s ascent in wireless technology, but the Chinese company is determined to prevail.
Read More
China Unveils Plan for Overseas-Listed Tech Giants to Float Shares Back Home
The Chinese government on Friday unveiled a pilot plan to encourage qualified companies in select industries to float shares on its domestic stock market, paving the way for the country’s technology giants to list at home.
Read More

week13 | 2018

week13 | 2018

CGCC News
China General Chamber of Commerce-USA Statement Regarding the Results of Section 301 Investigation
New York – China General Chamber of Commerce–USA (CGCC) is deeply concerned about the proposed actions of increasing tar...
Read More
CGCC Hosted “Legal and Policy” Series No. 1: US-China Relations Outlook Under Trump’s Administration
On March 21, China General Chamber of Commerce – USA (CGCC) hosted “Legal and Policy Series 2018 No.1 US-China Relations...
Read More
Weekly Headlines
Growth Bounces Back for Year at China’s Largest Banks
China’s largest banks saw profits rebound last year, boosted by higher interest rates, a strengthening economy and a Beijing campaign to rein in risky lending.
Read More
After Donald Trump’s move, taxes cut for Chinese firms from factories to farms
China will reduce taxes – worth 240 billion yuan (US$38.15 billion) a year – for factories, transport firms, builders, telecom operators and farmers from May 1, as it comes under pressure from tax cuts made by US President Donald Trump.
Read More
China is reportedly taking the first steps to pay for oil in yuan instead of US dollars this year
China is taking its first steps towards paying for imported crude oil in yuan instead of the U.S. dollar, three people with knowledge of the matter told Reuters, a key development in Beijing's efforts to establish its currency internationally.
Read More
Trump's China tariffs may not begin until June: U.S. officials
U.S. President Donald Trump’s tariffs on Chinese goods may not be imposed until early June, administration officials said on Wednesday, with public consultations and potential tariff revisions buying time for negotiations to forestall them.
Read More
U.S. economy grew at a pace very close to Trump’s 3 percent goal at end of last year
The U.S. economy expanded at a rate of 2.9 percent in the fourth quarter, the Commerce Department reported Wednesday, much better than Wall Street analysts expected and very close to President Trump's goal of 3 percent growth.
Read More
Energy Transfer Forms a JV to Set Up Ethane Export Facility
Energy Transfer Partners, L.P. ETP is set to team up with Satellite Petrochemical USA Corporation for the construction of ethane export facility on the U.S. Gulf Coast.
Read More
U.S. Weighs Use of Emergency Law to Curb Chinese Takeovers
The Trump administration is considering a crackdown on Chinese investments in technologies the U.S. deems sensitive by invoking a law reserved for national emergencies, among other options, according to people familiar with the matter.
Read More
Local U.S. Officials Woo Chinese Investment Despite Trump Threat
With the Trump administration acting to squeeze China on trade, U.S. governors and mayors are delivering a different message to Chinese businesses looking to invest: Bring it on.
Read More
China preparing list of retaliatory tariffs on U.S. imports: Global Times
China will soon announce a list of retaliatory tariffs on United States exports to China to counter an expected announcement from the United States of proposed new tariffs on Chinese imports, the Global Times said Wednesday.
Read More
The Trade Issue That Most Divides U.S. and China Isn’t Tariffs
China has struck a hard stance on the issue at the root of the looming trade fight between Beijing and Washington: China’s government-led drive, which Washington describes as breaking international rules, to build the cutting-edge industries of the future.
Read More
U.S. Pushes China on Cars and Finance in Tariff Talks
The Trump administration is urging China to lower tariffs on cars and open its market to U.S. financial services as part of talks to resolve a rise in trade tensions that has shaken global markets, according to a person familiar with the matter.
Read More
China steps up effort to avert US trade war
Chinese officials are rushing to finalise new regulations by May that will allow foreign financial groups to take majority stakes in securities companies as they seek to avert a looming trade war with the US.
Read More
U.S., China Quietly Seek Trade Solutions After Days of Loud Threats
China and the U.S. have quietly started negotiating to improve U.S. access to Chinese markets, after a week filled with harsh words from both sides over Washington’s threat to use tariffs to address trade imbalances, people with knowledge of the matter said.
Read More
China leads blockchain patent applications
China was the most active filer of blockchain patent applications last year as the country’s technology and financial services groups rushed to claim exclusivity on the “mutual distributed ledger” that could revolutionise finance and other supply chains.
Read More
New FCC Rule Would Step Up U.S. Fight Against China’s Huawei
The Federal Communications Commission is considering a new rule to further curb the U.S. business of Huawei Technologies Co., making it harder for small and rural carriers to purchase gear from Chinese telecom-equipment makers, according to people familiar with the matter.
Read More

week12 | 2018

week12 | 2018

Weekly Headlines
Donald Trump to impose 25% tariffs on $60bn of Chinese imports
The Trump administration announced plans on Thursday to impose tariffs on up to $60bn in annual imports from China, raising fears of a trade war between the world’s two largest economies and sending US stocks sharply lower.
Read More
China Fires Warning Shot at U.S. Over Tariffs
Beijing plans to roll out retaliatory tariffs on $3 billion worth of U.S. goods. Measures the Chinese Commerce Ministry rolled out Friday target $3 billion in U.S. goods, from fruit and pork to recycled aluminum and steel pipes that would be subject to higher tariffs.
Read More
Trump replaces McMaster with Bolton in day of turmoil
Donald Trump has replaced his national security adviser HR McMaster with foreign policy hawk John Bolton, an explosive appointment that signals a further lurch to the right and points to a White House in turmoil.
Read More
Trump Plans Stiff Trade Tariffs and Other Penalties on China
resident Trump on Thursday plans to announce at least $50 billion worth of annual tariffs and other penalties on China for its theft of technology and trade secrets, which administration officials say has robbed American companies of billions of dollars in revenue and killed thousands of jobs.
Read More
China poised to open markets ‘beyond expectations’ as tough US tariffs loom, envoy says
Speaking at a China General Chamber of Commerce USA event, New York-based Consul General Zhang Qiyue said barriers will be removed or eased for foreign investors in the country’s financial sector and that market entry standards will be the same for Chinese and foreign banks.
Read More
Best Buy to cease US sales of Huawei phones, report says
Best Buy, the largest US electronics retailer, is reportedly set to halt the sale of Huawei phones from its online and offline shelves, dealing a further blow to the handset maker after carrier AT&T pulled out of a deal to distribute its latest smartphone in the US earlier this year.
Read More
China Allows Foreigners to Enter $27 Trillion Payments Market
China will permit foreign companies to access its $27 trillion payments market, further opening up the world’s second-largest economy.
Read More
Trump to Ramp Up Trade Restraints on China
The White House is preparing to crack down on what it says are improper Chinese trade practices by making it significantly more difficult for Chinese firms to acquire advanced U.S. technology or invest in American companies, individuals involved in the planning said.
Read More
World Economic Leaders Warn of Trade War as Mnuchin Defends Policies
President Trump’s plan to hit other countries with stiff tariffs on imports of steel and aluminum dominated a two-day gathering of global economic leaders, with foreign policymakers warning that the United States is on the cusp of triggering an international trade war as it put its “America First” policy into action.
Read More
Targeting China, Trump Threatens Student Visas. That Would Hit a Big U.S. Export
The Trump administration’s proposed crackdown on China’s trade practices could hit one sector where the U.S. runs a big trade surplus: higher education.
Read More
China's premier hopes trade war can be averted, pledges more open economy
Voicing hopes that Beijing and the United States could avoid a trade war, Premier Li Keqiang told the close of the annual parliament session that China would open its economy further, so that foreign and Chinese firms can compete on an equal footing.
Read More
U.S. expected to impose up to $60 billion in China tariffs by Friday: sources
The Trump administration is expected to unveil up to $60 billion in new tariffs on Chinese imports by Friday, targeting technology, telecommunications and intellectual property, two officials briefed on the matter said Monday.
Read More
Forty-five U.S. trade groups urge Trump to avoid tariffs against China
Forty-five U.S. trade associations representing some of the largest companies in the country are urging President Donald Trump not to impose tariffs on China, warning it would be “particularly harmful” to the U.S. economy and consumers.
Read More
China Names Yi Gang as First New PBOC Governor in 15 Years
China’s incoming central bank governor, Yi Gang, signaled that he’ll push to maintain the course of financial liberalization set by his predecessor Zhou Xiaochuan
Read More
Powell's Fed to show policy caution, shun political friction
Jerome Powell heads for his first interest rate increase as Federal Reserve Chairman this week with an unanswered question looming above others: could his optimism about the U.S. economy lead to more hikes than markets have prepared for?
Read More

week11 | 2018

week11 | 2018

CGCC News
CGCC Hosts 2018 Lunch & Learn Series No. 1: How to Develop a Career Path
Three Tips to Move Your Career Forward
Read More
Weekly Headlines
Chinese Tech Titan Alibaba Plans Stock-Market Homecoming
Technology giant Alibaba Group Holding Ltd. is working on a plan to list on a stock exchange in its home market, China, according to people familiar with the matter, more than three years after its blockbuster initial public offering in New York.
Read More
Donald Trump’s threat to slap heavy tariffs on China ‘could devastate US economy’
American Chamber of Commerce warns that US president’s plan could prompt destructive trade war that would have serious impact on businesses and families
Read More
China's Huawei says the US is 'too nervous,' vows to continue investment in American market
Chinese telecoms giant Huawei says it will continue to invest in the United States despite recent setbacks in its efforts to boost sales there.
Read More
Trump Takes Aim at Next Tariff Target: China
Trade measures against Beijing would also include investment restrictions and visa limits to convince China to stop pressuring U.S. firms to transfer technology
Read More
Senate Passes Bill Easing Banking Rules
Supporters say bill will spur more lending and boost economy while opponents believe it will bring back unnecessary risks to financial system and harm consumers
Read More
Trump Picks CNBC’s Larry Kudlow as Top Economic Adviser
President Trump loves big personalities, live television, the stock market and loyalty. In choosing Larry Kudlow, a CNBC television commentator, to serve as the next director of the National Economic Council, he has checked all those boxes.
Read More
Trump eyes tariffs on up to $60 billion Chinese goods; tech, telecoms, apparel targeted
U.S. President Donald Trump is seeking to impose tariffs on up to $60 billion of Chinese imports and will target the technology and telecommunications sectors, two people who had discussed the issue with the Trump administration said on Tuesday.
Read More
Tax Revamp Drives Corporate CEOs’ Economic Outlook to 15-Year High
Chief executives of America’s largest companies raised their outlook for spending, hiring and sales to the highest level in 15 years in the first quarter after the passage of the U.S. tax overhaul.
Read More
China’s Economy Grows Faster Than Expected on Strong Demand for Exports
Industrial production, a rough proxy for economic growth, expanded by 7.2% in January and February from a year earlier
Read More
Trump’s Message in Blocking Broadcom Deal: U.S. Tech Not for Sale
With his swift rejection of Broadcom Ltd.’s hostile takeover of Qualcomm Inc., President Donald Trump sent a clear signal to overseas investors: Any deal that could give China an edge in critical technology will be swatted down in the name of national security.
Read More
China announces cabinet reshuffle plan to streamline govt work
China on Tuesday unveiled a massive cabinet reshuffle plan to make the government better-structured, more efficient, and service-oriented.
Read More
China Food Giant Says Trade War With U.S. Not Good for World
China’s biggest food company is sounding the alarm bells over escalating trade tensions with the U.S., pointing to potential suffering for the global economy and blow back for both countries if agricultural goods are used as bargaining chips in the fight.
Read More
No winners – only catastrophe – in a China-US trade war, Beijing says
A trade war between China and the United States would be disastrous not only for the two countries involved, but also the rest of the world, Beijing warned on Sunday.
Read More
China calls for fair treatment on its overseas investment
China's top state-owned enterprises (SOE) regulator Saturday called on other countries to treat Chinese investment fairly and equally.
Read More
U.S. Allies Jostle to Win Exemptions From Trump Tariffs
South Korea made an impassioned appeal to the American secretary of defense and national security adviser, reminding them of its role trying to defang North Korea. Europe pointed out that it was, in fact, a longstanding military ally of the United States.
Read More

week10 | 2018

week10 | 2018

CGCC News
CGCC Delegation Participated in the Invest in America! 2018 Summit
On February 27, CGCC led a delegation to attend the Invest in America! 2018 Summit hosted by U.S. Chamber of Commerce in...
Read More
Weekly Headlines
Trump Asks China for Plan to Cut $100 Billion Off U.S. Trade Gap
The Trump administration asked China for a plan to cut the annual U.S. trade deficit with the nation by $100 billion, a reduction of more than 25 percent from last year’s gap, a White House official said.
Read More
Trump accepts offer to meet Kim Jong Un
President Donald Trump has agreed to meet with North Korean leader Kim Jong Un, the White House announced, setting the scene for an unprecedented encounter between two nations that only recently threatened to wipe each other out.
Read More
Trump Launches Global Race for Exclusion From Steel Tariffs
With the stroke of a pen, President Donald Trump has set off a race among nations and companies to win relief from his steel and aluminum tariffs.
Read More
China warns of 'necessary response' in event of trade war with U.S.
China will respond as necessary in the event of a trade war with the United States, Foreign Minister Wang Yi said on Thursday, while warning that such a war would only harm all sides.
Read More
Trump to offer temporary tariff exemption for Canada and Mexico
President Trump is planning to offer Canada and Mexico a temporary exemption from new tariffs on steel and aluminum imports, reversing his original insistence that the measures apply to U.S. allies as well as nations like China, administration officials said Wednesday.
Read More
U.S. Soybean Farmers Fear China Will Retaliate for Steel Tariffs
China’s appetite for U.S. soybeans has waned, and concerns abound that exports of the legume could suffer further if President Donald Trump makes good on a promise to impose tariffs on imports of steel and aluminum.
Read More