Evergrande Group, once the biggest property developer by sales, was ordered by a Hong Kong court to begin its liquidation process, which may take up to five years to complete. The Shenzhen-based company had tried to buy time to implement its debt-restructuring plan and deliver more apartments to its customers since Top Shine Global, one […]

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You’re simply the bestBetter than all the restBetter than anyoneAnyone I’ve ever met     Tina Turner The free market is falling apart. That we all know. Lamentations on the current state of affairs abound. The free market has immiserated the middle class. The free market has created oligarchs. The free market has de-industrialized the Western world. […]

The post Chinese and American cadres in a second-best world appeared first on Asia Times.

After falling 12.2% this year, Hong Kong’s stocks rebounded 2.63% on Tuesday on news that Beijing may mobilize about 2 trillion yuan (US$278 billion) through offshore entities to support beaten-down Chinese stocks. The Hang Seng Index, the benchmark of Hong Kong markets, increased 392 points to close at 15,353 on Tuesday. But it is still […]

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Evidence has accumulated that, despite the United States’ export controls, China’s military-related firms, research centers and universities can still acquire Nvidia’s high-end artificial intelligence (AI) chip. Technology experts say the Biden administration has failed so far to stop small distributors from reselling and smuggling the chips into the Chinese underground markets. The US Commerce Department’s […]

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China has felt pressure from the United Kingdom and the European Union as a dozen Chinese firms were accused of supplying Russian President Vladimir Putin’s war machine.  After the Group of Seven (G7) leaders discussed the Ukraine war in a virtual meeting on Wednesday, the UK sanctioned 46 companies and individuals, most of which are […]

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Three Hong Kong trading firms have been sanctioned by the United States for allegedly shipping components to Iran and Russia for making drones used for attacking Ukraine.  In August last year, Russia fired Iranian-made Shahed-136 suicide drones at Ukrainian troops. By early this year, Russia planned to produce 6,000 Iranian drones at its own facility […]

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The US Biden administration, evidently seeking to demonstrate after agreeing to a prisoner swap that it isn’t soft on Iran, has sanctioned seven individuals and four entities in Iran, Russia, China and Turkey and accused them of supplying components to Tehran’s drone program.  The US Treasury’s Office of Foreign Assets Control (OFAC) on Tuesday imposed […]

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Is war between the United States and China inevitable? This was the central question asked of panelists at the opening session of this year’s Asia-Pacific Roundtable in Kuala Lumpur. My answer was “No, it is not inevitable, but it is no longer unimaginable or as unlikely as it was a few short years ago, and the trends […]

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An application in the United States seeking protection from creditors while Evergrande Group restructures its heavy debt has burdened Chinese stocks as it fueled investors’s concerns about China’s property crisis. Evergrande asked protection from creditors under Chapter 15 of the US bankruptcy code, which is invoked when insolvency cases involve multiple countries. The company said it […]

The post Evergrande’s debt case hits China’s stock markets appeared first on Asia Times.

The cash crunch at Country Garden, once the largest property developer in China by sales, has worried many homebuyers who have paid for but not yet received their apartments. Some commentators called on the Chinese government to look into the matter and ensure that the property developers will deliver apartments to buyers. The calls came […]

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Why does it matter that a Chinese blogger who uses the pen name “Jing Haihou” says local officials and lawmakers must take actions to maintain Hong Kong’s unique advantage of “two systems” in order to attract investments and encourage those who left the city to come back? What makes that important is that Jing is […]

The post Beijing growls as Hong Kong fails to lure investors appeared first on Asia Times.

The Hong Kong government has extended its efforts to suppress political dissent overseas, issuing arrest warrants for eight exiled pro-democracy figures and offering bounties of HK$1 million (US$128,000) each. The targeted pro-democracy figures, who now live in Australia, the US and UK, were selected from a longer list of wanted dissidents. There is a curated […]

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Nvidia, a California-based graphic processing unit maker, is going to build a world-class artificial intelligence research center in Taiwan to accelerate its Omniverse project, a computing platform that supports 3D applications. The announcement was made after the United States firm’s share price surged 24.6% to US$380.6 in a single day on May 24. On Tuesday, […]

The post Nvidia to turn Taiwan into a world-class AI hub  appeared first on Asia Times.

Beijing regulators are leaning into a seven-week rally in China’s sovereign bond market by widening access to onshore interest-rate swaps. Yet what sounds like a rather technical turn of the screw is a huge and timely reform win for institutional investors keen on trading Asia’s biggest economy.

“Timely,” because it coincides with Group of Seven (G7) members heading to Hiroshima, Japan to contain any number of financial troubles. They include runaway inflation, failing Western banks, the specter of a US default and desperate attempts to woo Global South countries.

In China, though, the vibe is more about opening a recovering financial system to global investors hungry for growth and higher-yielding assets as the post-Covid-19 trade gains momentum.

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FedEx Corp, one of the three biggest express parcel shipping companies along with UPS and DHL, reportedly is moving its Asia-Pacific regional headquarters from Hong Kong to Singapore to achieve “greater speed and agility.” Kawal Preet, regional president of FedEx Express, will be relocated to Singapore, Bloomberg reported, citing an unnamed staff member; some other Hong […]

The post Loss of FedEx HQ highlights Hong Kong legal fears appeared first on Asia Times.

Political tensions between Beijing and Washington have increased again after the Biden administration sanctioned 12 Chinese firms for shipments to Russia and two others for supplying chemicals illicitly used in Mexico to produce the opioid drug fentanyl for the US market. The US Department of Commerce’s Bureau of Industry and Security (BIS) last week amended […]

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Confronted with an emigration wave and an aging population, Hong Kong has just registered the biggest decline in its working population in decades. The workforce in the former British colony, which was handed over to Beijing in 1997, fell by 94,100, or 2.4%, to 3.87 million in 2022 from the previous year, according to the […]

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The new leader of China’s State Council called Monday for strengthening trade relations between China and the United States, the world’s two largest economies – although American politicians are pushing forward a decoupling and his own boss, President Xi Jinping, had just vowed to confront enemies with a “steel Great Wall.”   “Some people in the US […]

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Reporting on China has long been one of the most challenging and crucial of journalistic assignments. Former CNN Beijing bureau chief Chief Mike Chinoy’s new book, Assignment China: An Oral History of American Journalists in the People’s Republic, tells the story of how American journalists have covered China – from the civil war of the […]

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More Chinese tourists have visited Hong Kong following the cancellation Monday of the quota system for cross-border travel and pre-departure Covid test requirements. A total of 273,000 people arrived in or departed from Hong Kong on Tuesday, compared with about 3,500 on the year-earlier day, according to the Immigration Department. The Tuesday number is about […]

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