Category: China

Chinese Consumers Willing To Pay More For “Made in USA” Goods: BCG Study

It seems that Americans are not the only ones who are beginning to shun Chinese-made products for those made in the U-S-of-A.

According to a study by the Boston Consulting Group (BCG), as cited by Reuters on Wednesday, consumers in China are now willing to pay more for products with “Made in USA” labels, compared to those produced domestically, as they perceive American-made goods to be more durable and of higher quality.

China Claims Copyright Piracy Problem “Distorted”

China has hit back at critics and Western media outlets that exaggerate and “distort” the reality of copyright piracy in the Mainland.

Speaking at the sidelines of the Communist Party Congress, Tian Lipu, the top official at the State Intellectual Property Office, slammed what he said was a deliberate distortion of the piracy issue by Western media caused by the country’s poor global image.

WHO Urges China To Raise Taxes On Tobacco

The World Health Organisation (WHO) has advised the Chinese government to increase its present taxes on tobacco, reported the China Daily on Friday, with nearly 1.2 million Chinese dying annually of smoking-related diseases.

China Promises Economic Reforms As Political Transition Begins

China’s ruling party has restated its commitment to economic reforms and development with outgoing President Hu Jintao promising continuity as a new generation of anointed successors prepare for a leadership takeover.

Speaking at a key congress at the Great Hall of the People, Hu emphasised the country’s tremendous growth in the last three decades which has raised China to become the world’s second largest economy and lifted millions of Chinese out of poverty.

China Launches WTO Case Against EU Over Solar Dispute

China has filed an official complaint with the World Trade Organisation over alleged subsidies provided by some EU members towards the solar panel industry, reported the New York Times on Monday, in retaliation to an anti-dumping investigation by the EU against China earlier this year.

Infographic: Red Money – China’s Wealthiest People, Companies & Cities

Despite the recent economic slowdown, the rise of Asia over the last decade has seen an increase in the number of billionaires across the region. Nowhere is this more evident than in China where the rank of billionaires has risen from just 15 six years ago to 251 this year.

It’s no secret that the super-rich in China are now creating major waves in the global economy. Check out this infographic, which explores who’s holding on to all the wealth and what are they buying with all their money.

Unpaid Bills on the Rise in China

Chinese Investors Moved More than $3.79 Trillion Out of Country Illegally

Chinese investors evading government controls have channelled $3.79 trillion in illicit financial outflows from 2000 through 2011, according to a report by Global Financial Integrity. In 2011 alone, China lost over $600 billion – more than any other country in the last ten year period.

At the same time, the group also found that a significant part of the illicit outflows from China is “round-tripped” back to the country as recorded foreign direct investment, disguised to win tax breaks and other incentives from the government.

Family of Outgoing Chinese Premier Alleged to Have Amassed $2.7bn Wealth During His Term

The extended family of outgoing Chinese Premier Wen Jiabao has controlled assets worth at least $2.7 billion, according to a New York Times exposé which cited corporate, regulatory records and unidentified people familiar with the family’s investment history. 

In a seven-page exposé on one of China’s top politicians, the New York Times gave an account of how the family of Wen Jiabao, a populist leader often referred to as “Grandpa Wen” by the press, had become “extraordinarily wealthy” during his time in office. 

China Wants to Ban Foreign Vessels from its Inland Waterways

In a bid to protect its domestic shipping industry from a slowing global market, China has introduced a plan to ban foreign vessels from sailing on its domestic waters, as well as block foreign shipping services from operating in China.

China will ban foreign vessels from sailing on its domestic waterways from January 1 as local operators struggle to profit amid a global shipping glut.