China is too big to be sidelined, and investors “have to do business there,” said JPMorgan’s Asia Pacific CEO, Sjoerd Leenart.
BUSINESS
Australian wine pours back into China as tariff-free shipments surge to over US$10 million in April
China imported over US$10 million of wine from Australia in April, up from US$126,000 a year earlier, after it lifted punitive import tariffs at the end of March.
SMM: China’s bauxite imports in April hit a record high for a single month, up 20% MoM
According to the General Administration of Customs of China, in April 2024, China imported 14.2376 million mt of bauxite, setting a new record for monthly imports, up 20.02% MoM and up 18.84% YoY.
Stellantis CEO has stern warning about Chinese EV tariffs, as China plans retaliation
In an interview with Reuters, Stellantis ( STLA) CEO Carlos Tavares warned that tariffs like that enacted by the Biden administration are “a major trap for the countries that go on that path,” noting …
House votes to make CFTC main crypto regulator, a win for the industry
Crypto leaders have long preferred oversight from that agency rather than the Securities and Exchange Commission. The Senate isn’t expected to pass the bill.
Shein switches focus to London after New York IPO stalls
Concerns about Shein’s ties to Beijing have become the biggest hurdle in the path … citing Shein founder Sky Xu’s “strong desire” for an IPO “as soon as possible”. People familiar with the situation …
Zeekr Stock Forecast: Can ZK Shine Despite China’s EV Slump?
Chinese electric vehicle (EV) company Zeekr Intelligent Technology Holding (ZK) went public in the U.S. in an upsized IPO. It was the first major Chinese EV company to list in the U.S. after the 2020…
Biden Administration seeks China-style CBDCs, warns US Congressman
Congressman Emmer warns Biden’s CBDC plan threatens privacy, introduces bill to prevent government surveillance.
China mulls higher tariffs on European and U.S. made cars, business group says
A Chinese business group said the Chinese government is considering hiking tariffs on foreign made cars by up to 25%
Florida men plead guilty to fraud in scheme to export biochemicals to China
The Justice Department Wednesday said a ringleader and company insider have both pleaded guilty to defrauding biochemical company Sigma-Aldrich Inc., illegally exporting company products to China.
Biden Tariffs Revive The China Trade War But Trump’s Stance Is Riskier
Biden’s motive for increasing tariffs is to demonstrate he can be tough on China, but his targeted stance is less risky than Trump’s sweeping proposals.
China’s local govt bodies ask Evergrande EV unit to return $262.4 mln subsidies
China Evergrande New Energy Vehicle said on Wednesday its unit had received a letter from the country’s local administrative bodies demanding repayment of 1.9 billion yuan ($262.42 million) given as …
China levies sanctions against 12 US military-linked companies
and “seriously undermines” China’s sovereignty and territorial integrity. Get a brief on the top business stories of the week, plus CEO interviews, market updates, tech and money news that matters to you. We’ve added you…
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