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Search resuls for: "China's Jiangsu"


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☆ China's reopening could boost global growth — and worsen inflation
  + stars: | 2023-01-27 | by ( Anna Cooban | ) edition.cnn.com   time to read: +7 min
London CNN —China’s swift reopening after nearly three years of strict coronavirus controls could provide a much-needed boost to global economic growth, but may also stoke inflation just as it has shown signs of falling back. The revival of the world’s second largest economy — and its biggest consumer of commodities — threatens to push up global prices for fuel, industrial metals and food this year. The speed of the reopening, as well as indications that infections may have already peaked, has been surprising, analysts told CNN. Yet, if global food and energy prices start rising again, that could feed through into higher consumer prices. China’s reopening could bump up demand for agricultural goods, while the world is still in the grips of the worst food crisis in modern history.
☆ China's economy could recover faster and earlier than expected, analysts say
  + stars: | 2023-01-17 | by ( Jihye Lee | ) www.cnbc.com   time to read: +3 min
The nation's economy grew 3% for the full year of 2022 — the second-slowest growth rate it has seen since 1976. The nation's economy grew 3% for the full year of 2022 — the second-slowest growth rate it has seen since 1976. Xu expects to see a sharp rebound in the second quarter of 2023 as China continues to prioritize the economy over its zero-Covid policy. China's economy may have already seen the worst of pressures in the final month of 2022, JPMorgan's Zhu said. He added the weakness was the result of uncertainty surrounding the nation's zero-Covid policy and a mass infection that followed its steps of reopening.
☆ Production resumes at Indonesian nickel smelter after deadly clash
  + stars: | 2023-01-17 | by ( ) www.reuters.com   time to read: +2 min
[1/4] Employees react amid the chaos as Chinese and Indonesian workers clash at a nickel smelter in Morowali, Sulawesi, Indonesia in this undated social media video released January 16, 2023. Revi Limbong via REUTERSJAKARTA, Jan 17 (Reuters) - Production at an Indonesian nickel smelter owned by China's Jiangsu Delong Nickel Industry resumed on Tuesday, police said, after operations were suspended due to a protest and rioting at the weekend in which two workers were killed. An Indonesian and a Chinese worker died, while vehicles and dormitories were torched during the clashes at the PT Gunbuster Nickel Industry (GNI) smelter, a unit of Jiangsu Delong, which involved protesters, workers and security guards. GNI launched the smelter, which has an annual output capacity of 1.8 million tonnes, in late 2021. There are about 11,000 Indonesian workers at GNI's plant and 1,300 foreign personnel, according to Indonesian police.
☆ China’s exports slump less than expected in December
  + stars: | 2023-01-13 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: 1 min
Cargo ships dock at the container terminal in Lianyungang Port, East China's Jiangsu province, Dec 7, 2022. BEIJING — China's exports and imports fell less than expected in December, the customs administration said Friday. China's exports fell by 9.9% in December from a year ago in U.S.-dollar terms, slightly better than the 10% decline forecast by a Reuters' poll. China's imports fell by 7.5% year-on-year in December in U.S.-dollar terms, also better than the 9.8% decline predicted by Reuters. Strong exports bolstered China's economy in the last two years.
☆ Morgan Stanley upgrades its 2023 growth outlook for China, expects stronger and earlier rebound
  + stars: | 2022-12-14 | by ( Jihye Lee | ) www.cnbc.com   time to read: +4 min
Visual China Group | Getty ImagesMorgan Stanley raised its outlook for China's economy in 2023, predicting a rebound in activity will come earlier and be sharper than expected. China's government is also shifting to prioritizing economic growth, another pillar behind Morgan Stanley's revised forecast for the country's economic outlook. The onshore Chinese yuan stood at 6.9590 against the U.S. dollar on Wednesday morning – below the key 7.0 level against the greenback, which Morgan Stanley said makes it more attractive for exporters to buy more Chinese yuan with U.S. dollars. 'Number of risks'One of the risks that Morgan Stanley acknowledged is a potential withdrawal of policy support. Another area of uncertainty for Morgan Stanley's growth outlook is geopolitics.
☆ US curbs on China's microchip industry could throttle Xi Jinping's tech ambitions
  + stars: | 2022-10-31 | by ( Laura He | ) edition.cnn.com   time to read: +8 min
One dramatic, and potentially disruptive aspect of the rules is the ban on American citizens and legal residents working with Chinese chip firms. The ban could lead to a mass resignation of top executives and core research staff working at Chinese chip firms, which will hit the industry hard, Dong from Georgetown University said. So far it’s not clear exactly how many American workers there are in China’s domestic chip industry. At Advanced Micro-Fabrication Equipment China (AMEC), one of the country’s largest semiconductor equipment manufacturers, at least seven executives, including founder and chairman Gerald Yin, hold US citizenship, the latest company documents show. But some Western suppliers have already started preparing to halt sales to China in response to the US export curbs.
☆ Venture capitalists are betting on a part of China’s chip industry safe from U.S. bans
  + stars: | 2022-10-28 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +5 min
The U.S. this month imposed new restrictions to maintain a lead over China in advanced chip technology. That gap leaves a large market opportunity far more insulated from U.S. restrictions — and one that Chinese startups can tap, some venture capitalists said. He claimed WestSummit-backed GigaDevice Semiconductor is one of the Chinese companies well-positioned to capture the mature market. "However, chip-making is a mature technology that has been developed many years. Looming risksDespite the large market opportunity, early-stage investment in Chinese chip startups still face risks from potential lawsuits and the complexity of the technology itself, Vertex's Tay said.
☆ The fate of the world economy may depend on what happens to a company most Americans have never heard of
  + stars: | 2022-10-22 | by ( Avery Hartmans | Jacob Zinkula | ) www.businessinsider.com   time to read: +13 min
The fate of the global economy may rest on the shoulders of one company: TSMC. That's because there could be trillions of dollars' worth of economic activity tied to that one company: Taiwan Semiconductor Manufacturing Company, the world's biggest chipmaker. Ann Wang/ReutersThe semiconductor industry has its roots in the US, as much of the research and development is done on US soil. According to a 2021 report from the Semiconductor Industry Association, in 1990 the US produced 37% of the world's chip supply. These days, the US is responsible for only 12% of global chip production.
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