Companies
Li, head of US state seek ways to enhance exchanges
Premier Li Keqiang meets Michigan Governor Rick Snyder in Zhongnanhai, the central leadership’s compound, in Beijing on Tuesday. They discussed a range of subjects, from trade to investment and employment. Wu Zhiyi/china Daily
Premier Li Keqiang said on Tuesday that all US states, including Michigan, are welcome to strengthen exchanges with provinces and municipalities in China and deepen cooperation in fields such as trade, investment, manufacturing and innovations.
He was speaking to Rick Snyder, Michigan’s governor, when they met in Beijing, one stop for Snyder’s nine-day investment mission to China that started on Sunday.
Li said local cooperation between the two countries is booming, which is helpful to expand common interests. China will cultivate an open and facilitating environment, he said.
“You have visited China each year since taking office as governor. The cooperation between your state and China has been highly productive,… which shows the cooperation between our two countries has delivered tangible benefits to our people,” Li said.
Common interests far override differences for China and the US as the world’s largest developing country and developed country, Li said. Since the outset of this year, the presidents of both countries have met twice, while both nations are expanding dialogues and exchanges at various levels. China would like to enhance understanding and mutual trust and expand pragmatic cooperation in key areas to achieve a healthy and stable relationship with the US, he said.
In response, Snyder said Michigan has benefited from cooperation between the countries and hopes to expand exchanges in all fields, which he said will help promote mutual understanding and bilateral ties.
Michigan is home to much of the US auto industry, with 375 automobile research centers, and is one of the world’s leading destinations for high-quality technicians and engineers.
The governor’s investment mission to China…
China
Government subsidies don’t boost Chinese firms’ productivity
China’s industrial subsidies have caused considerable controversy both internationally and domestically. Trading partners have accused China of unfairly favouring its indigenous firms with subsidies, leaving foreign companies at a disadvantage in the race to lead the technologies of the future.
Governments around the world regularly spend an enormous amount of money subsidising businesses. But few spend like China. A 2022 report suggests that China spends 1.7–5 per cent of its GDP on industrial policies, more than most countries.
(more…)Companies
Chinese Smartphone Manufacturer Lays Off 3,000 Employees Following Closure of Chip Design Division
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
(more…)Companies
Company Owned by Chinese Billionaire Guilty of Paying $1 Million in Bribes to LA Councilman
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
(more…)- China Unveils Plan to Upgrade Industrial Equipment
- China deepens engagement with new Indonesian president as top diplomat visits Jakarta
- New Publication: A Guide for Foreign Investors on Navigating China’s New Company Law
- Lingang New Area in Shanghai Opens First Cross-Border Data Service Center to Streamline Data Export Process
- A Concise Guide to the Verification Letter of Invitation Requirement in the China Visa Process
- Uyghurs remember 1990 Baren Uprising over China’s forced abortions
