83 m. ago As Chinese exporters explore home market, how are letters of credit helping?

After the United States imposed so-called reciprocal tariffs on imports from China in April, Beijing took steps to help Chinese exporters sell their products domestically. In addition to the staging of product promotion events across the country and the offering of fiscal and financial incentives, Beijing also encouraged the increased use of letters of credit (L/Cs) to help such businesses switch focus to the domestic market. What is a domestic letter of credit? A letter of credit, also known as...

Politics

83 m. ago Cheerleaders to critics: German machinery makers call for EU action on China

Germany’s iconic machine makers used to be among the loudest cheerleaders for ever-closer economic ties between China and Europe. Now, as exports dwindle and facing “increasingly strong [Chinese] competitors” beefed up by “unfair state subsidies”, the industry is demanding that Brussels put in place trade barriers to protect it. A new position paper published on Thursday by the Mechanical Engineering Industry Association (VDMA), representing medium-sized manufacturers that help constitute...

Politics

83 m. ago Chinese worker requesting sick leave criticised for being weak and punished

A human resources supervisor in southeastern China triggered widespread public outrage and initiated a government investigation after verbally insulting an employee who requested sick leave for a fever, labelling her “too weak” and suggesting she seek psychiatric help. The controversy gained public attention on June 5, when a female employee – whose identity remains undisclosed – shared on social media that she had been verbally abused by her employer after asking for sick leave due to a...

Politics

4 h. ago Hong Kong Group That Lobbied for Chinese Labor Rights Shuts Down

Hong Kong Group That Lobbied for Chinese Labor Rights Shuts Down  The New York Times

Politics

4 h. ago Chinese AI Companies Dodge U.S. Chip Curbs by Flying Suitcases of Hard Drives Abroad

Chinese AI Companies Dodge U.S. Chip Curbs by Flying Suitcases of Hard Drives Abroad  WSJ

Transport

5 h. ago Dan Wang observes the grandeur and tragedy of the Chinese ‘engineering state’

Unlike tourists in many places, those visiting China for the first time often consider subway stations in major cities attractions in themselves for their sheer beauty, innovative designs, or simply their novelty. Hell, if nothing else, they are sparkling clean! Those such as Panda Avenue station in Chengdu and Rainbow station in Guangzhou are mentioned in tourist guides as places to visit. Several stations in Shenzhen look more like the halls found in many of Asia’s ultra-modern airports. From...

Politics

5 h. ago My Take | Dan Wang observes the grandeur and tragedy of the Chinese ‘engineering state’

My Take | Dan Wang observes the grandeur and tragedy of the Chinese ‘engineering state’  South China Morning Post

Politics

5 h. ago Embassy urges Chinese in Iran to stay alert after Israeli airstrikes, explosions

The Chinese embassy in Tehran called Iran’s latest security situation “severe and complicated” following Israel’s military strikes early on Friday, while also warning its citizens and businesses to monitor the situation and take precautions. “The embassy in Iran reminds Chinese citizens and businesses in the country to closely monitor the situation, enhance their safety awareness, and strengthen security measures,” it said in a statement. Israeli Prime Minister Benjamin Netanyahu has confirmed...

Events

5 h. ago Chinese citizens in Iran, Israel need to prepare for attacks, embassies warn

The Chinese embassy in Israel warned its citizens on Friday morning to take safety precautions for potential attacks as Tehran considers a retaliation against Israeli strikes targeting its nuclear sites. The Israeli strikes were “significantly escalating the tensions” in the Middle East, the embassy said in a statement that urged Chinese citizens in Israel to closely monitor the evolving situation, remain calm, and stay vigilant. “Citizens are advised to prepare for potential attacks involving...

Events

6 h. ago Study suggests pigs may have been domesticated in China as early as Neolithic

Research by archaeologists from Chinese and US institutes suggests that pigs were already domesticated in southern China around 8,000 years ago. The team, which included researchers from Dartmouth College and the Zhejiang Provincial Institute of Cultural Relics and Archaeology, analysed two early Neolithic sites in the province’s Yangtze Delta region. The study – published on June 9 in the prestigious international journal Proceedings of the National Academy of Sciences (PNAS) – “is the first to...

Politics

6 h. ago Pigs may have been domesticated in China as early as Neolithic era: study

Research by archaeologists from Chinese and US institutes suggests that pigs were already domesticated in southern China around 8,000 years ago. The team, which included researchers from Dartmouth College and the Zhejiang Provincial Institute of Cultural Relics and Archaeology, analysed two early Neolithic sites in the province’s Yangtze Delta region. The study – published on June 9 in the prestigious international journal Proceedings of the National Academy of Sciences (PNAS) – “is the first to...

Politics

6 h. ago Chinese man dons placard declaring he owns 2 buildings to attract partner

A man in southern China who went to a boat racing event and tried to attract a girlfriend by displaying a placard saying that he owned two buildings has trended on mainland social media. The online post has prompted more than 1,000 people to get in touch with the man. As people gathered to watch an event in Guangzhou, Guangdong province on May 31 to celebrate the Dragon Boat Festival, the man with the message around his neck drew much attention, Jimu News reported. “Unmarried. Haizhu. Two...

Politics

6 h. ago Chinese solar firms bank on overseas expansion to survive amid US tariffs

Chinese solar and energy-storage companies will continue to press ahead with their overseas expansion with or without a long-term agreement on trade tariffs, as production abroad holds the key to their long-term survival, according to executives at China’s largest solar industry exhibition. Although the US and China reached a 90-day truce in their ongoing tariff war in May, solar panel exports from China and Southeast Asia to the US are still subject to tariffs of as much as 3,521 per cent, with...

Economics

7 h. ago Japan warns of collision risks after Chinese fighter jet manoeuvres

Japan has expressed serious concerns to Beijing through diplomatic and defence channels after a Chinese fighter jet from the aircraft carrier Shandong made “abnormal approaches” to a Japanese patrol aircraft over the Pacific Ocean. In a statement, Tokyo’s defence ministry said a J-15 fighter shadowed its P-3C patrol aircraft operating over the Pacific for about 40 minutes from 10.30am on Saturday and again for around 80 minutes from 2pm on Sunday. The ministry said the Chinese fighter approached...

Events

8 h. ago Rights Trading at Beijing’s Book Fair: Two Illustrated Works From Italy

Rights Trading at Beijing’s Book Fair: Two Illustrated Works From Italy  Publishing Perspectives

Politics

9 h. ago Trump seems to reverse course on Chinese students in US, saying he supports them

US President Donald Trump reiterated his support for Chinese students in America on Thursday and pledged to help them remain in the country after graduation, distancing himself from initiatives that his administration has announced to limit or block international students because of national security concerns. “I’ve always been strongly in favour of it. I think it’s a great thing,” Trump said on Thursday, referring to Chinese nationals seeking to study in the US. “It’s also good for our schools....

Politics

13 h. ago Trump’s hand against Beijing is getting weaker as Chinese exports to the U.S. tank 34% compared with a year ago

Trump’s hand against Beijing is getting weaker as Chinese exports to the U.S. tank 34% compared with a year ago  Fortune

Politics

17 h. ago Nvidia CEO says Huawei has everyone ‘covered’ if US chip ban on China stays

Nvidia founder and CEO Jensen Huang said his company’s technology remained a generation ahead of those developed by China, but warned that Huawei Technologies was in a position to expand its semiconductor business should US chip export curbs stay in place. In an interview with US broadcaster CNBC on Thursday, Huang appeared to echo recent published remarks made by Huawei founder and CEO Ren Zhengfei, who said the Chinese company’s Ascend artificial intelligence (AI) processors lagged behind...

Politics

17 h. ago Beijing hoping for closer ties with Vatican as pope names first Chinese bishop

China said it was willing to promote better relations with the Vatican after the appointment of the first Chinese bishop under the new pope. On Wednesday, the Vatican said Pope Leo had named Joseph Lin Yuntuan, 73, as an auxiliary bishop in Fuzhou, capital of the southwestern province of Fujian, on June 5. The appointment continues an agreement reached under Leo’s predecessor, Pope Francis, that bishops must be approved by both sides. The announcement was made on the same day that Beijing...

Economics

18 h. ago How LA protests might force China to rethink its approach to US ties

The unrest in Los Angeles has revealed US domestic tensions that could momentarily divert Donald Trump’s attention from his China policies, potentially requiring a recalibration of Beijing’s approach towards Washington, according to Chinese analysts. One international relations expert urged Beijing to adopt a more pragmatic approach towards US ties and shift its focus to adapt to the conservative turn in American politics. After days of demonstrations in downtown Los Angeles over citywide US...

Events