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The American Chambers of Commerce in China and Shanghai conducted a survey of American companies engaged in manufacturing, trading and distribution activities in the PRC. Its results showed that the majority of respondents felt the negative impact of increased tensions in trade relations between the United States and China. Three-quarters of survey participants noted that an increase in US import duties from 10% to 25% on Chinese goods worth $200 billion reduced the demand for their products in China, as well as increased production costs and prices. This situation forces US companies to resort to a “in China, for China” strategy, which implies locating production in China and identifying suppliers that are mainly focused on the Chinese market.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
KYC Policy