China Shipping Line ship is loaded at the main container port in Hamburg, Germany, August 2007. China’s trade surplus widens in September to $ 27.67 billionExports jumped almost 10% year-on-year to $ 186BImports also rose in September, up 2.4% after three months of fallsTrade with European Union fell, while trade with the U.S. increasedHong Kong — China’s trade surplus widened to $ 27.67 billion in September from $ 26.66B the previous month, the Chinese government reported Saturday.Exports surged almost 10% in September to $ 186.35B, compared to the same time last year. This increase follows a year-on-year gain of just […]
Bankrupt solar firm Solyndra has filed a lawsuit against three U.S.-listed Chinese solar players, including Suntech Power Holdings Co , seeking $ 1.5 billion in compensation due to monopolization by these firms, according to court documents filed on Thursday. The lawsuit was filed against Suntech, Trina Solar Ltd and Yingli Green Energy Holding Co claiming that the trio’s panel prices moved in tandem – falling 75 percent in four years in the U.S. Solyndra, which claims in the lawsuit that the trio were involved in predatory pricing and price fixing, filed for bankruptcy a year ago as it could no […]
The United States on Wednesday slapped steep final duties on billions of dollars of solar energy products from China, but turned down a request from lawmakers and U.S. manufacturers to expand the scope of its order. China’s government and its solar manufacturers criticized the decision, adding more heat to the U.S.-China trade relationship following a congressional panel report on Monday urging American companies not to do business with two Chinese telecommunications companies because of security concerns. “The United States is provoking trade friction in the new energy sector, and sending a negative signal to the world that stirs global trade […]
U.S. solar panel producers, who have already won preliminary duties on billions of dollars of solar panel imports from China, appear well positioned to win longer-term relief in coming weeks as the U.S. government makes its final decisions. The high-profile case, which has been copied by producers in Europe and spawned threats of retaliation from Beijing, now largely turns on whether the U.S. International Trade Commission finds U.S. manufacturers have been “materially injured,” or are threatened with material injury, by the imports. “We feel we have a very strong injury case,” Tim Brightbill, lead attorney for SolarWorld Americas and other […]
President Barack Obama has prohibited a Chinese-owned company from building wind farms near a U.S. Navy installation in Oregon, the White House announced Friday. Obama rejected a bid by Ralls Corp, a firm owned by Chinese nationals and affiliated with a Chinese construction equipment company that manufactures wind turbines. The Committee on Foreign Investment in the U.S., or CFIUS, has already rejected the wind farm project. Under the order, Ralls must divest its interest in the wind farm project.
People walk past an advertising for China Construction Bank in Hong Kong.One of China’s biggest banks is planning to make the country’s biggest foreign bank acquisition Chairman: China Construction Bank could spend as much as $ 15B for “the right choice”Wang would not name targets but UK, Germany or France banks are attractiveAnalysts have predicted that Chinese groups could swoop on comparatively cheap western rivals. One of China’s biggest banks is planning to make the country’s biggest foreign bank acquisition to date and has set its sights on potential targets in Europe.China Construction Bank, the second-ranked Chinese bank by assets […]
China has been stepping up its media presence in AfricaThe state-owned CCTV has opened a broadcast hub in the Kenyan capital of Nairobi”We tell the positive story of African people,” says CCTV’s managing editorAnalysts say China is using media to change the narrative of its involvement in the continentNairobi, Kenya — For years, China has been pumping billions of dollars across Africa to build large-scale infrastructure projects and grant cheap loans in exchange for access to the continent’s natural resources and growing markets.And lately, along with its economic and political engagements, Beijing has also been making significant strides in expanding […]
The Number: AMC goes to China”China is getting bigger, getting richer, getting more sophisticated. Chinese companies are developing — all of that drives growth in deal activity,” Mr Gallagher said. “Some of China’s biggest companies, especially in the oil and gas sector, are getting much more sophisticated in their approach to acquisitions.”Credit Suisse tops the table for advising on deals with Chinese acquirers and US targets, having been involved in $ 5.1bn of trades. It advised Sinopec in the Devon deal and was among the five advisers to AMC. However, Credit Suisse is third behind Goldman Sachs and Citigroup for […]