BEIJING (Reuters) - China's commerce ministry launched an anti-dumping probe on Sunday into POM copolymers, a type of engineering chemicals, imported from the EU, U.S., Japan and Taiwan.
Reuters 19 hours
China rolls out new measures to fix its property crisis, spur growth. China has announced fresh measures to revive its ailing property industry after the latest data showed housing prices slumped further in April. Other figures reported Friday showed factory output rose but consumer spending remained lackluster. China's housing market has slumped after a crackdown on excessive borrowing by property developers, dragging on a wide range of other businesses and slowing growth in the world's No. 2 economy. The government has cut interest rates and freed up billions of dollars of financing to help financially struggling developers deliver housing already promised and paid for. Local governments are being encouraged to buy apartments that are going unsold due to weak demand to use as affordable housing.
The State Journal 20 hours
The BMW Group is an automotive juggernaut as it operates more than 30 factories across the world. In 2023, a whopping 2,661,922 cars were built for the BMW, MINI, and Rolls-Royce brands. The volume represents an increase of 11.7% compared to the year before. The plant in Dadong, China was the most fruitful after pumping out 420,586 cars, ahead of Spartanburg (USA) with 410,793 vehicles.
BMWBLOG 15 hours
The suspects allegedly used USDT to run a foreign exchange payment and settlement business, providing illegal services to cosmetics and drug smugglers. The Chinese police forces have burst a large underground banking operation using the popular stablecoin Tether (USDT) to facilitate transfers of up to 13.8 billion yuan ($1.9 billion).
cryptopotato.com yestoday
T’was a big week for economic news. U.S. inflation slowed to 3.4%. The Dow Jones Industrial Average reached 40,000 for the first time ever. And President Joe Biden announced new tariffs on Chinese electric vehicles, solar cells, computer chips and other imports. Closer to home, the Denver-area inflation had...
coloradosun.com yestoday
The power of the East conquers the capital of the West.
Financing China yestoday
A staple in downtown Palo Alto is shutting down after 38 years in business. The Jing Jing Gourmet restaurant says inflation and rising costs are among the reasons why it’ll close its doors for good on Sunday. It's known for its Sichuan, Hunan, and Taiwanese dishes. The line was...
NBC Bay Area yestoday
In a significant move towards enhancing digital currency use, Hong Kong residents can now set up personal digital yuan or e-CNY wallets, as announced by the Hong Kong Monetary Authority (HKMA). This development, part of a collaboration with the People’s Bank of China (PBoC), marks a milestone in “facilitating” cross-border...
bitcoinist.com yestoday
Two Chinese nationals have been charged with leading a scheme to launder proceeds from cryptocurrency investment scams. The indictment, unsealed in the Central District of California Thursday (May 16), names two individuals who have been arrested: Daren Li, a dual citizen of China and St. Kitts and Nevis, and Yicheng Zhang, a Chinese national, the Department of Justice said in a Friday (May 17) press release.
PYMNTS yestoday
The Biden administration quadrupled tariffs on Chinese electric vehicles this week in order to protect American automakers. The tariffs are expected to rise to 100 percent from 25 percent for EVs. There are additional tariffs for critical minerals, solar goods and batteries. Critics of the EV tariffs say they go...
mahoningmatters.com yestoday
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