Business
Chinese Businesses Targeted in South Africa Riots, Expert Says Beijing Might Be to Blame
As civil unrest continues in South Africa, Chinese businesses have been targeted. One China observer believes that the anti-China sentiment could be fueled by the Chinese regime’s expanding global influence and human rights abuses. Violence broke out in the country after former President Jacob Zuma was given a 15-month jail term last week for contempt of court for failing to appear at a hearing in February over allegations of corruption during his presidency. More than 70 people have been killed, which is the worse in years. Shopping malls, stores, and banks in Gauteng and KwaZulu-Natal provinces where the riots occurred have been looted. The South African military has dispatched 2,500 soldiers to support the police, but the situation is still out of control. On July 14, local time, the Chinese Embassy in South Africa issued an emergency safety alert for the second time in two days, reminding local Chinese citizens to …
Business
International Aquarium Conference Shifts from Mexico to China: A Global Focus
Wuhan’s HHAn Polar Ocean Park successfully received the IAC flag, marking the 2027 event countdown. The city aims to promote aquatic research and biodiversity conservation through an upcoming science education museum.
Success of the Flag Handover Ceremony
The International Aquarium Congress (IAC) celebrated a significant milestone on November 1, 2024, in Guadalajara, Mexico, with the flag handover ceremony for the upcoming 13th IAC in 2027. This event, often dubbed the "Olympics of the Aquarium Industry," marks the return of the IAC to China for the first time since 2008. HHAn-Wuhan Polar Ocean Park received the flag, highlighting Wuhan’s prominence in aquatic research and conservation.
Wuhan: A Hub for Aquatic Research
Wuhan stands out as a leading center for aquatic organism research, housing the largest cluster of related institutions in China and globally. Its selection as the first inland city to host the IAC emphasizes its rich scientific heritage and commitment to environmental sustainability. The city’s advanced research capabilities and dedication to biodiversity make it an ideal venue for such a prestigious event.
Commitment to Environmental Education
Tan Wencheng, General Manager of HHAn-Wuhan Polar Ocean Park, expressed the park’s dedication to supporting Wuhan’s growth over the past 13 years. As a key urban tourism landmark, the park plans to construct a 2,000-square-meter science education museum focusing on Yangtze River aquatic organisms and ecological protection. This initiative aims to foster public understanding and appreciation for aquatic biodiversity and drive conservation efforts in the region.
Source : Global Spotlight on International Aquarium Conference as It Moves from Mexico to China
Business
CCPIT Reports 90% of Foreign Firms Surveyed Are Satisfied with China’s Business Environment
A CCPIT survey reveals 90% of foreign firms find China’s business environment satisfactory, with growing optimism and increased investment plans, particularly among European companies, primarily in eastern regions.
Positive Business Sentiment in China
The China Council for the Promotion of International Trade (CCPIT) recently reported that 90% of surveyed foreign enterprises consider China’s business environment "satisfactory" or better. Their findings, shared during a press release in Beijing on October 31, revealed rising optimism among European and U.S. companies regarding market conditions for 2024.
Increasing Investment Willingness
Approximately 20% of the foreign firms surveyed indicated plans to increase their investments in China, marking a 2.07% rise from the previous month. Notably, European companies displayed heightened interest, with a 2.5% increase. The eastern region of China emerged as a preferred investment area, with 59.52% of firms looking to expand production lines or enhance digital transformations.
Commitment to Support Foreign Businesses
CCPIT spokesperson Sun Xiao emphasized the importance of improving services for foreign-invested enterprises. With a focus on enhancing market access and closing procedures, the council aims to better serve the needs of these businesses, fostering a conducive environment for foreign investment in the country.
Source : 90% of surveyed foreign firms are satisfied with China’s business environment: CCPIT
Business
US Enacts New Investment Restrictions on AI and Semiconductor Technologies in China
The US has implemented regulations restricting investments in key technology sectors in China, citing national security risks, particularly concerning AI and semiconductors, following President Biden’s previous executive order.
US Investment Restrictions on Key Technology Sectors
The United States has implemented new regulations that restrict investments in crucial technology sectors in China, including artificial intelligence and semiconductors, driven by national security concerns. The Treasury Department’s announcement marks a significant change in the US stance on foreign investment in critical technologies.
Effective January 2, US citizens, residents, and companies will be barred from transactions involving advanced technologies. Investors must also alert the Treasury about investments in less advanced technologies that pose potential national security risks, reflecting a broader approach to safeguarding American interests.
These restrictions stem from growing worries about China’s technological capabilities and military applications. The move follows President Biden’s previous executive order to prevent US investments from unintentionally benefiting adversaries. As tensions rise, these regulations are expected to impact the global tech industry significantly.
Source : US implements new investment restrictions on AI and semiconductors in China