Business

The United States said Monday it is opening an investigation into China's policies for its semiconductor industry, over concerns that Beijing is turning to "extensive anticompetitive and non-market means" to undermine other economies. The probe centres on foundational semiconductors -- which go into everything from cars to medical devices -- and whether China's actions create burdens for US commerce, said the US Trade Representative's (USTR) office. The fear is that Beijing's practices undermine "the competitiveness of American industry and workers, critical US supply chains, and US economic security," the USTR's office added. Beijing slammed the move as "protectionist," vowing to defend its interests and urging Washington to halt its "wrong practices." The investigation falls...

In the largest corruption case in China’s history, the Chinese government executed Li Jianping on Tuesday. Jianping, a former official in the Inner Mongolia Autonomous Region, was sentenced to death after being found guilty of embezzling over three billion yuan (approximately $421 million). The execution was ordered by China’s Supreme People’s Court and carried out by a court in Inner Mongolia, according to the Xinhua News Agency. Jianping, 64, had served as secretary of the Communist Party working committee for the Hohhot Economic and Technological Development Zone. His death sentence was initially issued in September 2022 and upheld on appeal in August 2024. Xi Jinping’s anti-corruption driveSince coming to power in 2012, President Xi Jinping has made anti-corruption a key part of

When the FY24 Economic Survey presented in July batted for allowing more Chinese investment into India, it was seen as a change in heart following the NDA government’s re-election for a third successive term. However, with trade minister Piyush Goyal quickly clarifying that there was no rethink within the government to support foreign direct investment (FDI) from China, matters died down. However, in recent months, India’s fast-tracking of business visas for Chinese nationals, troop disengagement along the Ladakh border, and statements by senior government functionaries have indicated a renewed deliberation on the future of India’s economic ties with its northern

British companies operating in China feel that doing business in the world's second-largest economy has become harder over the past year due to sluggish economic conditions and they expect that situation to remain in 2025, a survey found. That is despite China rolling out a series of stimulus measures over the past few months to bolster the $19 trillion economy, the British Chamber of Commerce in China found in its annual sentiment survey released on Tuesday. The findings by the lobby group, based on members' views over September and November, revealed that 58 per cent of companies felt that doing business in China had become more difficult over the past year, with 86 per cent of such firms blaming economic factors. "British businesses continue to face significant headwinds, from...