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☆ The U.S. wants ByteDance to sell TikTok. China is almost certainly going to refuse
▼ + stars: | 2024-03-14 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Visitors are visiting TikTok's stand at the Appliance & Electronics World Expo (AWE) in Shanghai, China, on April 27, 2023. CostFoto | Nurphoto | Getty ImagesThe U.S. could be about to force ByteDance, the Chinese tech giant that owns TikTok, to divest its U.S. business or effectively ban the app. But a sale looks unlikely — not least because China is expected to block it. Last year, the U.S. Committee on Foreign Investment in the United States (CFIUS) told ByteDance to divest TikTok or face a ban. TikTok algorithm at the centerWhat complicates a sale further is TikTok's algorithm.

Persons: ByteDance, Paul Triolo, Albright Stonebridge, CNBC's, Wang Wenbin, Shu Jueting, CFIUS, China's Shu, Triolo, Richard Windsor Organizations: Appliance, Electronics, Nurphoto, Senate, Washington, Lawmakers, Chinese Communist Party, TikTok's, China's Ministry of Foreign Affairs, NBC, U.S ., Foreign Investment, China's Ministry of Commerce, Radio Free Mobile, TikTok Locations: Shanghai, China, United States, TikTok, U.S, ByteDance, TikTok USA, USA

☆ TikTok is circling the wagons ahead of a potential ban
▼ + stars: | 2024-03-13 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +2 min

This story is available exclusively to Business Insider subscribers. The company plans to exhaust all legal avenues before considering being split from Chinese company ByteDance, Bloomberg reported, citing people familiar with the matter. AdvertisementIf TikTok loses its legal battle, ByteDance, its parent company, must divest the social media platform. This could also prove challenging, as the Chinese government has said it opposes a forced sale of TikTok. TikTok did not immediately respond to a request for comment from Business Insider.

Persons: —, Joe Biden, Shou Chew, Sarah Kreps, Shu Jueting, TikTok Organizations: Service, Senate, Business, Punchbowl News, Bloomberg, Wall Street, Tech, Institute, New York's Cornell University, CNN Locations: United States

☆ China says the U.S. has 'weaponized' chip export controls
▼ + stars: | 2024-01-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. BEIJING — China's Ministry of Commerce said Thursday the U.S. is weaponizing export controls and using them as a tool. "The United States has instrumentalized and weaponized export control issues," she said, calling for the Dutch side to "respect the spirit of the contract and support businesses in conducting compliant trade." She was responding to a question about ASML, the Netherlands-based company that makes lithography machines that are key to manufacturing advanced semiconductors. ASML said in a Jan. 1 statement the Dutch government restricted it from exporting some lithography products to China.

Persons: Shu Jueting, ASML Organizations: Bund, BEIJING — China's Ministry of Commerce, CNBC Locations: Shanghai, China, BEIJING, United States, Netherlands

☆ China says the best way to 'de-risk' is to restore stability with the U.S.
▼ + stars: | 2023-09-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mandel Ngan | Afp | Getty ImagesBEIJING — China's Ministry of Commerce said Thursday that restoring stability in U.S.-China trade relations is the best way to "de-risk" — a twist to a term that's become popular in international politics. That also "allows bilateral economic trade relations to better play the role of 'ballast,' stabilizing business expectations and increasing business confidence for carrying out trade and investment." In November last year, U.S. President Joe Biden and Chinese President Xi Jinping met in Bali, Indonesia, for their first in-person meeting since Biden took office. Their meeting kicked off formal plans for U.S. Secretary of State Antony Blinken and other U.S. senior officials to visit China this year. Following her meetings, the U.S. and China agreed to establish regular communication channels on commerce, export controls and protecting trade secrets.

Persons: Joe Biden, Xi Jinping, Roosevelt, Mandel Ngan, Shu Jueting, Biden, Antony Blinken, Scott Kennedy, International Studies Shu, Wang Wentao, Gina Raimondo, Shu, Raimondo, Wang, CNBC's Eunice Yoon Organizations: White, Afp, Getty, BEIJING, China's Ministry of Commerce, Ministry of Commerce, CNBC, U.S, Scott, Scott Kennedy Center for Strategic, International Studies, Commerce, Center for Strategic, . Commerce Locations: Washington ,, China, Bali, U.S, Bali , Indonesia, Beijing, Shanghai, America

☆ CNBC Daily Open: Stocks are under pressure from Treasury yields
▼ + stars: | 2023-08-18 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work the floor of the New York Stock Exchange on July 25, 2023, in New York City. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The pan-European Stoxx 600 index retreated 0.9%, weighed down by industrials and technology stocks. Chinese countermeasuresSeparately, China's Ministry of Commerce said it might respond to the Biden administration's executive order restricting U.S. investment in sensitive Chinese technology. [PRO] Surprise social stock pickEvercore ISI's Mark Mahaney is famous for his analysis of technology stocks.

Persons: David Roche, it's, Roche, Shu Jueting, Bitcoin, Sylvia Jablonski, Mark Mahaney Organizations: New York Stock Exchange, CNBC, Treasury, China's Ministry of Commerce, Biden Locations: New York City, Norway's, Defiance

☆ China is considering countermeasures to Biden's executive order
▼ + stars: | 2023-08-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: 1 min

Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. BEIJING — China's Ministry of Commerce signaled Thursday it would respond, if needed, to the Biden administration's executive order to restrict U.S. investments in advanced Chinese technology. China's Ministry of Commerce has met with businesses to understand the order's impact, spokesperson Shu Jueting said in Mandarin, translated by CNBC. "On that basis, we are making a comprehensive assessment of the executive order's impact, and will take necessary countermeasures based on the assessment's results," Shu said. U.S. President Joe Biden last week signed an executive order aimed at restricting U.S. investments into Chinese semiconductors, quantum computing and artificial intelligence companies over national security concerns.

Persons: Shu Jueting, Shu, Joe Biden Organizations: Bund, BEIJING — China's Ministry of Commerce, Biden, China's Ministry of Commerce, CNBC Locations: Shanghai, China, BEIJING

☆ Divisive China, Taiwan bids to join Pacific trade pact in focus at meet
▼ + stars: | 2023-07-14 | by ( Lucy Craymer | ) www.reuters.com time to read: +4 min

Britain will become the 12th member to join the pact that cuts trade barriers, as it looks to deepen ties in the Pacific. In support of its application, Britain has said that CPTPP countries will have a combined GDP of 11 trillion pounds ($13.6 trillion) once Britain joins, or 15% of global GDP. "There’s a large gap between the high standards and binding commitments that are demanded of CPTPP members, and where China is currently at," he added. The other countries' applications also provide opportunities. "After modernising the Canada-Ukraine FTA this year, Canada knows that Ukraine is capable of meeting the high standards of the CPTPP," she said.

Persons: Charles Finny, CPTPP, Chris Hipkins, Shu Jueting, Penny Wong, Aidan Arasasingham, Joanne Ou, Roy Lee, Mary Ng, Lucy Craymer, Ben Blanchard, Joe Cash, Praveen Menon, Muralikumar Organizations: WELLINGTON, Trans, Pacific, New Zealand, Reuters, Centre, Strategic, International Studies, Washington DC, Thomson Locations: Pacific, Auckland, China, Taiwan, New Zealand, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, Singapore, Vietnam, Britain, Costa Rica, Uruguay, Ecuador, Ukraine, New, Beijing, Zealand, Jakarta, Taipei, CPTPP, Wellington

☆ China says it told the U.S. and Europe about the export controls in advance
▼ + stars: | 2023-07-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's Ministry of Commerce said Thursday the country told the U.S. and Europe about this week's export controls in advance. China did so through "export control dialogue channels," commerce ministry spokesperson Shu Jueting said in Mandarin, translated by CNBC. The commerce ministry announced Monday that starting Aug. 1 China would restrict exports of gallium and germanium — two metals used in semiconductor manufacturing. That means companies in China need to apply for licenses in order to export the metals. Spokesperson Shu said the ministry had yet to receive any applications for export licenses, and noted the rules don't take effect until Aug. 1.

Persons: Shu Jueting, Shu Organizations: BEIJING — China's Ministry of Commerce, CNBC Locations: China, BEIJING, U.S, Europe

☆ Beijing's curbs on niche metal exports threaten China supply glut
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +3 min

Gallium prices in China have dropped 12% this year, pressured by its slowing economy. China's germanium ingot price has advanced only 1% to 7,250 yuan per kg since Monday. Overseas price offers are rising much faster, amid fears that Beijing may use the permitting system to restrict shipments. The Chinese government enforces export controls that do not target any particular country," spokesperson Shu Jueting told a weekly press conference. China produces around 60% of the world's germanium, and over 90% of the world's gallium.

Persons: Theo Ruas, Willis Thomas, Ruas, Shu Jueting, Amy Lv, Siyi Liu, Seher, Dominique Patton, Kim Coghill Organizations: China's Ministry of Commerce, Washington, Producers, Corporation, Shanghai Metal Exchange, CRU, Reuters, Thomson Locations: BEIJING, China, Beijing, U.S, London, Bangalore

☆ China says it ‘firmly opposes’ a potential forced sale of TikTok
▼ + stars: | 2023-03-24 | by ( Laura He | ) edition.cnn.com time to read: +2 min

China’s commerce ministry said Thursday that a forced sale of TikTok would “seriously damage” global investors’ confidence in the United States. “If the news [about a forced sale] is true, China will firmly oppose it,” Shu Jueting, a spokeswoman for the ministry, told a Thursday news conference in Beijing, adding that any potential deal would need approval from the Chinese government. “The sale or divestiture of TikTok involves technology export, and administrative licensing procedures must be performed in accordance with Chinese laws and regulations,” she said. “The Chinese government will make a decision in accordance with the law.”Previously, Beijing didn’t weigh in directly on a potential forced sale. Chinese regulators first added algorithms to the restricted list of technologies in August 2020, when the Trump administration threatened to ban TikTok unless it was sold.

China and U.S. flags are seen near a TikTok logo in this illustration picture taken July 16, 2020. Florence Lo | ReutersBEIJING — China says it would "strongly oppose" a forced sale of TikTok, making clear the government's involvement with the social media giant that's trying hard to distance itself from Beijing authorities. ByteDance did not immediately respond to a request for comment on the Chinese Commerce Ministry's remarks. But the commerce ministry's claim of control over a TikTok sale or spinoff indicates Beijing wants to be involved. When asked about the commerce ministry's remarks Thursday, TikTok's CEO said the app isn't available in mainland China and is based in Los Angeles.

[1/2] Staff members chat behind Chinese and U.S. flags displayed at the 2021 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2021. REUTERS/Florence LoBEIJING, March 23 (Reuters) - China has never deliberately pursued a trade surplus with the United States, Shu Jueting, a commerce ministry spokesperson, said on Thursday, despite signs that China is continuing to reduce its reliance on American exports. She said this was needed to "create the conditions for enterprises from both sides to expand trade cooperation and reduce the trade deficit through dialogue". The goods trade gap with China widened $29.4 billion to $382.9 billion in 2022. Trade tensions between the United States and China have been simmering ever since the US-China Phase One Trade Deal expired at the end of 2021.

☆ China renews pledge for wider market access for foreign investors
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

BEIJING, March 16 (Reuters) - China's commerce ministry said on Wednesday it will continue to push for the relaxation of market access for foreign investors, renewing efforts to lure foreign capital as the world's second-largest economy emerges from three years of COVID disruptions. As China reopens after dropping its zero tolerance policy for COVID-19 in December, convincing foreign investors to return to China will help reinvigorate an economy that grew at its slowest rates last year in half a century. China will "help foreign companies seize the opportunity to deepen their presence in China," Shu Jueting, a commerce ministry spokesperson, told reporters. Shu told reporters that China will also "steadily expand institutional openness." China's fresh efforts to court foreign investors and businesses also came as global uncertainties, from wars to bank crises, push them to search for new safe havens.

☆ China will move to protect its firms following U.S. telecoms ban
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Dec 1 (Reuters) - China opposes the U.S. Federal Communications Commission's ban on new Chinese telecommunications equipment sales, the commerce ministry said on Thursday, vowing to adopt necessary measures to safeguard the rights of its domestic firms. The Biden administration on Friday banned the sale or import of new telecommunications equipment from China's Huawei Technologies and ZTE (000063.SZ), citing national security risks. Washington designated five Chinese companies to the so-called "covered list" in March 2021: Huawei, ZTE, telecoms firm Hytera Communications Corp, video surveillance firm Hikvision and surveillance equipment maker Dahua. The commission said the following June that it was considering banning all equipment authorisations for the firms on the list. Chinese commerce minister Wang Wentao expressed concerns over U.S. trade restrictions against China during a recent talk with U.S. Trade Representative Katherine Tai, Shu said last week.

☆ China decoupling takes one step forward, one back
▼ + stars: | 2022-11-29 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +7 min

It has pushed for reshoring production of electric vehicles and silicon chips, and legislated to delist Chinese companies from New York. Europe, Japan, Australia and India have implemented their own measures ranging from restrictions on Chinese investment, excluding equipment from telecoms networks, and banning consumer apps. The impact the pandemic has had on Chinese supply chains has retroactively validated the push to separate. For politicians who hope to replicate the Chinese supply chain via tax tweaks, subsidies and sanctions, it’s worth remembering China started building out the requisite logistical infrastructure in the 1980s. Non-financial outbound direct investment in the same 10-month period rose 10.3% year-on-year to 627.4 billion yuan, Shu said.

☆ China to adopt consensus reached in talks with United States, ministry says
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Nov 17 (Reuters) - China will adopt key consensus measures decided in talks between President Xi Jinping and U.S. counterpart Joe Biden, the Asian nation's commerce ministry said on Thursday. Sound and stable development for China and U.S. economic and trade co-operation will benefit both countries and the world, ministry spokesperson Shu Jueting told a regular news conference in the Chinese capital. Referring to talks held at a summit of the G20 grouping in the Indonesian resort island of Bali, Shu added that both countries should work together and create conditions for economic and trade co-operation. "We will carefully implement key consensus reached by both leaders and will publish information in time when we have it," Shu added. Reporting by Ellen Zhang and Liz Lee; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

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