Tag: China

BUSINESS

China’s Economy Sees Record Growth

China’s economy has shown growth rate of 18.3% in the first quarter of 2021 compared to the same quarter last year. It’s the biggest jump in gross domestic product since China started keeping quarterly records in 1992. However, the figures are below expectations, with a Reuters poll of economists predicting a 19% growth. Reports also suggest the figures are heavily […]

BUSINESS

Beijing Is Now The Capital Of Billionaires

Beijing is now said to be not only the Chinese capital but also the capital of billionaires in the world. The Forbes Magazines in its latest report on the rich noted that the Chinese city added 33 billionaires last year and now hosts a total of 100. This narrowly beats the city that never sleeps — New York City, by […]

BUSINESS

China Targets Six Percent Economic Growth

China is aiming for an economic growth rate above six percent in 2021, after scrapping its target last year. China’s Premier announced its latest target at the opening of this year’s National People’s Congress. The target marks a return to strong growth after the COVID-19 pandemic impacted the world’s second largest economy. Although China’s economy grew last year, it only […]

NEWS

Guyana Says No To Taiwan, Yes To China

Guyana ended an agreement with Taiwan to open an office in the South American country on Thursday after facing pressure from China to end the relationship. Taiwan’s foreign ministry had announced earlier that it had signed an agreement with Guyana to open an office in the country. However, Beijing seized upon the plan, claiming Guyana must correct their mistake. Beijing […]

NEWS

China Set To Reject BNO Passport

China has announced that it will “no longer recognize” the British National (Overseas) passport for Hong Kong NATIONALS. This move comes against the backdrop of the United Kingdom’s decision to open its doors to millions of residents of its former colony following a Beijing security crackdown. “From January 31, China will no longer recognize the so-called BNO passport as a […]

BUSINESS

China Prepares To Go To War Over Taiwan If Push Comes To Shove

Despite Taiwan’s over 72 years of separation from China and having its own constitution, democratically elected government, and about 300,000 active troops in its armed forces, China still seeks to maintain a stranglehold on the island. China regards Taiwan as a breakaway province, which it has vowed to retake by force if necessary. With the new Biden administration, China has […]

NEWS

Venezuela Sells Millions Of Barrels Of Crude Oil To China

Millions of barrels of Venezuelan heavy crude embargoed by the United States have been adulterated for shipment to China, according to a Bloomberg investigation.  These illegal maneuvers were carried out by a group of companies, which Washington had already sanctioned. This U.S. news portal claims to have reviewed invoices and e-mails that show that several traders have hidden the origin of […]

BUSINESS

EU Strikes Deal With China

Top European Union officials and Chinese President Xi Jinping agreed to a business investment deal on Wednesday. The move will allow European companies greater access to Chinese markets and help redress what Europe sees as unbalanced economic ties. The agreement was negotiated for almost seven years and is likely to take at least another year to enter into force. It […]

BUSINESS

OECD Bets On China To Help Restore Global GDP

The Organization for Economic Cooperation and Development (OECD) is predicting that a robust recovery in China should help global GDP recover to pre-pandemic levels by the end of next year. The OECD released its latest forecasts in a report recently. The organization’s chief economist Laurence Boone says progress with vaccines and treatment have lifted expectations and uncertainty has receded. But […]

BUSINESS

China’s Singles Day Breeds Billions

China’s annual Singles’ Day or Double 11, called Bachelors’ Day initially, is a Chinese unofficial holiday and shopping season, which takes place every year at this time — 11/11. The one-day shopping extravaganza regularly rakes in billions of dollars for Alibaba (BABA) and other e-commerce and retail companies in China on an annual basis, and this year was no exception. […]