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☆ China slams Biden's order limiting U.S. overseas tech investment
▼ + stars: | 2023-08-10 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

Dong Wenjie | Moment | Getty ImagesChina criticized President Joe Biden's long-awaited executive order regulating fresh U.S. investment in technology — but stopped short of issuing immediate counter measures. "China expresses its grave concern and reserves the right to implement measures," the Chinese Commerce Ministry said in the statement, according to a CNBC translation. Biden's order comes amid an escalating race for global technology supremacy. watch now"This seriously deviates from the market economy and fair competition principles that the U.S. has always advocated," the Chinese Ministry of Commerce added. The wording on Biden's executive order appears similar to a toned-down version of the initial Outbound Investment Transparency Act the Senate recently introduced.

Persons: Dong Wenjie, Joe Biden's, Prasad, Janet Yellen Organizations: Images China, Chinese Commerce Ministry, Biden, CNBC, Chinese Ministry of Commerce, Cornell University, Treasury, Senate Locations: Shanghai, Asia, China, China , Hong Kong, Macao, U.S, Japan, Netherlands, Beijing

☆ Australia urges China to remove all trade restrictions after barley tariffs lifted
▼ + stars: | 2023-08-07 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

Don Farrell Australian trade minister"We always saw the barley application and the suspension of the barley application before the [World Trade Organisation] as a template for dealing with the wine issue," he said. "And of course, we're extremely confident that the 220% tariffs that were applied to Australian wine will be removed." Thawing tensionsIn April, Australia agreed to "temporarily suspend" its World Trade Organization complaint against China for its 2020 decision to impose 80.5% duties on Australian barley trade that was once worth about 1.5 billion Australian dollars ($988.1 million). Vcg | Visual China Group | Getty ImagesOn Monday, Farrell said a "range of factors" were at play, with Chinese beer consumers and barley importers "very strongly in favor" of reintroducing Australian barley. Since then, Australia's foreign minister Penny Wong and trade minister Farrell have visited Beijing and have had direct meetings with their direct counterparts.

Persons: Don Farrell, Farrell, Xi Jinping, Anthony Albanese, Penny Wong Organizations: World Trade, World Trade Organization, Chinese Commerce Ministry, Nantong, Trade Zone, Visual China, Australian Locations: Australia, China, Beijing, Nantong, Jiangsu Province, Bali

☆ China's chipmaking export curbs 'just a start', Beijing adviser warns before Yellen visit
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +6 min

Shares in some Chinese metals companies rallied for a second session as investors bet that higher prices for gallium and germanium, which Beijing's export restrictions target, could boost revenues. China is the world's biggest producer of rare earths, a group of metals used in EVs and military equipment. Asked about the metals export curbs, Chinese foreign ministry spokesman Wang Wenbin said on Wednesday the government's actions were reasonable and lawful. WARNING SHOTSome larger chip manufacturers view China's export controls on gallium as more of a warning shot about what economic pain the country could inflict. China's germanium ingot was priced at 9,150 yuan per kg on Tuesday, also flat on the day and on the week, Refinitiv data showed.

Persons: Janet Yellen, Wei Jianguo, Wei, Yellen, Biden, China's, Wang Wenbin, Wang, Gecamines, Belgium's Umicore, Xi Jinping, Eikon, Brenda Goh, Amy Lv, Tian, Nick Carey, Muralikumar Anantharaman, Jacqueline Wong, Catherine Evans Organizations: Treasury, Thursday Analysts, Washington, Commerce, China Daily, China Center for International Economic, Independence, Analysts, Micron, Global Times, Union, Benchmark Mineral Intelligence, AMS, Democratic, Shanghai Cooperation Organisation, Shanghai Metal Exchange, Beijing, Thomson Locations: Beijing, China, BEIJING, SHANGHAI, U.S, Japan, Netherlands, United States, Swiss, Teck Resources, North, Democratic Republic of Congo, Russia, Washington, Yunnan, London

☆ China adviser warns chipmaking export curbs are 'just a start', as Yellen visit looms
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +4 min

Shares in some Chinese metals companies rallied for a second session, with investors betting that higher prices on gallium and germanium, which Beijing's export restrictions target, could boost revenues. Germanium is used in high-speed computer chips, plastics, and in military applications such as night-vision devices as well as satellite imagery sensors. China is the world's biggest producer of rare earths, a group of metals used in EVs and military equipment. CURBS ON EXPORTS TO CHINAWashington is considering new restrictions on the shipment of high-tech microchips to China, following a series of curbs over the past few years. China's germanium ingot was priced at 9,150 yuan per kg on Tuesday, also flat on the day and on the week, Refinitiv data showed.

Persons: Janet Yellen, Yellen's, Biden, China's, Wei Jianguo, Wei, Xi Jinping, Eikon, Brenda Goh, Amy Lv, Christopher Cushing, Muralikumar Organizations: Independence, Analysts, Micron, Commerce, China Daily, China Center for International Economic Exchanges, Global Times, Shanghai Cooperation Organization, Shanghai Metal Exchange, Beijing, Thomson Locations: BEIJING, SHANGHAI, Beijing, Japan, Netherlands, China, CHINA Washington, United States, Yunnan

☆ China's metal export curbs a 'warning' to US and its allies - Global Times
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, July 5 (Reuters) - China's move to restrict the exports of two metals crucial for making some types of semiconductors and electric vehicles is a warning that China will not be passively squeezed out of the global chips supply chain, the Global Times said. It also argued that China had for years exploited its own rare earth resources at the expense of the environment to supply the global semiconductor industry. "There's no reason for China to continue exhausting its own mineral resources, only to be blocked from pursuing technological development...," it said. China's abrupt announcement of controls from Aug. 1 on exports of the metals has ramped up a trade war with the United States and could potentially cause more disruption to global supply chains. Analysts saw the move, which the Chinese commerce ministry said was to protect national security, as a response to escalating efforts by Washington to curb China's technological advances.

Persons: Janet Yellen, Brenda Goh, Muralikumar Organizations: Global Times, U.S, Independence, Reuters, Thomson Locations: SHANGHAI, China, United States, Washington, Beijing

BEIJING, May 29 (Reuters) - Chinese Commerce Minister Wang Wentao urged Japan to halt semiconductor export controls, calling it a "wrongdoing" that "seriously violated" international economic and trade rules, a statement from his ministry said on Monday. China's latest condemnation of the export restrictions was made during Wang's talks with Japanese Trade Minister Yasutoshi Nishimura on May 26 at the Asia-Pacific Economic Cooperation (APEC) conference in Detroit. Japan, along with the Netherlands, in January agreed to match U.S. export controls that will limit the sale of some chipmaking tools to China, and has placed restrictions on the export of 23 types of semiconductor manufacturing equipment to its neighbour. Japan has not singled out China in its statements about the export controls, saying only that it is fulfilling its duty to contribute to international peace and stability. Monday's statement from the Chinese commerce ministry also said, however, that China "is willing to work with Japan to promote practical cooperation in key economic and trade areas."

☆ China urges Japan to stop imposing chip export controls
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: 1 min

BEIJING, May 29 (Reuters) - Chinese Commerce Minister Wang Wentao urged Japan to correct its "wrongdoing" of imposing chip export controls, according to a statement from the Chinese commerce ministry on Monday. Wang made the comments during talks with Japanese Trade Minister Yasutoshi Nishimura on May 26 at the Asia-Pacific Economic Cooperation (APEC) conference. Wang was quoted as saying that Japan had ignored China's strong opposition and opinion within the industry and that its actions "seriously violated" international economic and trade rules. "China is willing to work with Japan to promote pratical cooperation in key economic and trade areas," the statement also quoted Wang as saying. Reporting by Beijing newsroom; Writing by Bernard Orr; Editing by Muralikumar Anantharaman and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

☆ China, South Korea agree to strengthen talks on chip industry, Chinese commerce ministry says
▼ + stars: | 2023-05-27 | by ( ) www.reuters.com time to read: +2 min

[1/3] Printed Chinese and South Korean flags are seen in this illustration, July 21, 2022. REUTERS/Dado Ruvic/IllustrationBEIJING, May 27 (Reuters) - China and South Korea have agreed to strengthen dialogue and cooperation on semiconductor industry supply chains, amid broader global concerns over chip supplies, sanctions and national security, China's commerce minister said. Wang Wentao met with South Korean Trade Minister Ahn Duk-geun on the sidelines of the Asia-Pacific Economic Cooperation (APEC) conference in Detroit, which ended on Friday. Wang also said that China is willing to work with South Korea to deepen trade ties and investment cooperation. South Korea is in the crosshairs of a tit-for-tat row between the United States and China over semiconductors.

☆ Australia trade minister flies to China to lobby for 'full' restoration of exports
▼ + stars: | 2023-05-12 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Trade Minister Don Farrell arrived in Beijing on Thursday for a three-day visit to meet with his counterpart, Wang Wentao, according to the Chinese commerce ministry. It’s the first visit to China by an Australian trade minister since 2019. “I will be advocating strongly for the full resumption of unimpeded Australian exports to China — for all sectors — to the benefit of both countries,” he added. As a result, Australian exports to China fell by 13% in 2022, compared to the previous year, according to Chinese customs data. In March, Australia’s exports to China hit a record high, with the value of shipments reaching 19 billion Australian dollars ($12.8 billion).

☆ China calls on Japan to correct chip export restrictions
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: 1 min

BEIJING, April 4 (Reuters) - China is seriously concerned about Japanese export restrictions on chip manufacturing equipment and called on it to correct its "wrong practice", the Chinese commerce ministry said on Tuesday. "China will take decisive measures to safeguard its rights and interests if Japan insists on obstructing the chip industry cooperation between the two countries," it said in a statement. Japan said last week it would restrict exports of 23 types of semiconductor manufacturing equipment, aligning its technology trade controls with a U.S. push to curb China's ability to make advanced chips. Reporting by Ella Cao and Meg Shen; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

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.

☆ Watch live: TikTok CEO testifies before House committee as potential U.S. ban looms
▼ + stars: | 2023-03-23 | by ( Christina Wilkie | ) www.cnbc.com time to read: +2 min

TikTok has touted a complex plan known as Project Texas to help ease U.S. concerns over its ownership. After two years of negotiations with the Committee on Foreign Investment in the United States, or CFIUS, the White House reportedly demanded last week that ByteDance sell TikTok. On Thursday, a Chinese commerce ministry spokeswoman said, "If the news is true, China will resolutely oppose it." TikTok became a viral sensation in the U.S. by allowing young people to create and share short videos. But the company announced this week that it has 150 million users in the United States, a figure that, if confirmed, amounts to nearly 60% of the population.

☆ China Sanctions Lockheed Martin and Raytheon as Tensions Over Balloon Increase
▼ + stars: | 2023-02-16 | by ( Dave Sebastian | ) www.wsj.com time to read: 1 min

Lockheed Martin is prohibited from export and import activities related to China under the country’s latest sanctions. HONG KONG–China has imposed fresh sanctions on the U.S.’s two largest defense contractors, a largely symbolic gesture that nevertheless signaled escalating tensions between the world’s two largest economies following the shooting down of a Chinese balloon by an Air Force fighter jet. On Thursday, the Chinese Commerce Ministry said it blacklisted Lockheed Martin Corp. and an arm of Raytheon Technologies Corp. over the companies’ arms sales to Taiwan. Putting the companies on its “unreliable entities list” prohibits them from export and import activities related to China.

Lockheed (LMT) Martin Corporation and Raytheon (RTN) Missiles & Defense, a subsidiary of Raytheon (RTN) Technologies Corp, will be added to China’s sanctions list, its Ministry of Commerce said in a Thursday statement. That move came after American forces downed what it called a Chinese surveillance balloon that entered its airspace late last month. Thursday’s Chinese commerce ministry statement made no mention of the downed balloon, nor the US sanctions on Chinese entities. Instead, it cited “national sovereignty” as the catalyst for the penalties while highlighting both companies’ sales of arms to Taiwan. China maintains that the balloon found over the United States was a civilian research aircraft accidentally blown off course.

☆ 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 Puts Lockheed, Raytheon on Trade Blacklist Over Taiwan Arms Sales
▼ + stars: | 2021-10-21 | by ( Dave Sebastian | ) www.wsj.com time to read: 1 min

Jets made by Lockheed Martin flew over Taipei on Oct. 21, 2021. China slapped fresh sanctions on the U.S.’s two largest defense contractors as tensions between the countries continued to escalate following the shooting down of a Chinese balloon. On Thursday, the Chinese Commerce Ministry said it blacklisted Lockheed Martin Corp. and an arm of Raytheon Technologies Corp. over the companies’ arms sales to Taiwan. Putting the companies on its “unreliable entities list” prohibits them from export and import activities related to China.

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