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☆ China urges U.S. cooperation as Trump trade threat looms
▼ + stars: | 2024-11-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

A flag stall at the Yiwu Wholesale Market in Zhejiang province, China, on May 10, 2019. BEIJING — China emphasized the need for greater cooperation with the U.S., a day after it became clear President-elect Donald Trump would become the next leader of the White House. She was responding to a question about China's views and planned countermeasures, given the potential for increased U.S. tariffs and restrictions on high-end tech. "Together [we can] push China-U.S. economic and trade relations toward a stable, healthy and sustainable direction, for the benefit of both countries and the world," the commerce spokesperson said. Her comments echoed those of Chinese President Xi Jinping, who earlier in the day noted the benefits of bilateral cooperation in a congratulatory message to Trump, according to a Ministry of Foreign Affairs readout.

Persons: Donald Trump, Xi Jinping, Trump Organizations: U.S, White, China's Ministry of Commerce, CNBC, Ministry of Foreign Affairs Locations: Yiwu, Zhejiang province, China, BEIJING, U.S

China's Ministry of Commerce on Thursday emphasized the country's efforts to restrict illegal exports of military goods to Russia as it seeks to cast Beijing as a neutral player amid the ongoing war in Ukraine. The term refers to goods or technologies that can be used for civilian as well as military purposes. China on Saturday unveiled an export control law for dual-use items, set to take effect Dec. 1. Despite the timing of its release, the text of China's new export control law does not mention specific countries. And Xi did not mention the export controls in during his trip to Russia, according to official statements.

Persons: Xi Jinping, Vladimir Putin, Gabriel Wildau, Xi Organizations: SZ, Technology, China's Ministry of Commerce, Atlantic Treaty Organization, Saturday, U.S Locations: Shenzhen, China, Russia, Beijing, Ukraine, Kazan, Russian, Moscow

☆ U.S. bans Chinese firms in Uyghur region as Beijing fights forced labor claims
▼ + stars: | 2024-10-03 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

The U.S. has added two new Chinese companies to a Xinjiang trade blacklist over forced labor accusations. The Department of Homeland Security announced on Wednesday that a Chinese steel manufacturer and an artificial sweetener maker would be placed on the Uyghur Forced Labor Prevention Act (UFLPA) Entity List. The list, which now includes 75 entities, bans imports that are made in full or in part in China's Xinjiang Uyghur Region, based on the assumption that forced labor of China's Uyghurs and other ethnic minorities was used in their manufacturing. The European Union has endorsed new laws that will ban products made using forced labor and require big firms to preform human rights and environmental audits on overseas suppliers. Taiwan is also reportedly considering its own bill on forced labor, similar to the UFLPA.

Persons: Robert Silvers, Silvers, Tommy Hilfiger, Calvin Klein, PVH, Lockheed Martin, — CNBC's Evelyn Cheng Organizations: U.S, Beijing, The Department of Homeland Security, Uyghur, Labor, Department of Homeland Security, U.S ., China's Ministry of Commerce, CNBC, Raytheon, The European Union Locations: Xinjiang, China's Xinjiang Uyghur, U.S, China, Beijing, Taiwan

☆ China says it filed an appeal to WTO over Canada's tariffs on EVs and metals
▼ + stars: | 2024-10-02 | by ( Sonia Heng | In Sonia-Heng | ) www.cnbc.com time to read: +1 min

Aerial view of new energy vehicles at Huaian BYD Industrial Co., Ltd. on August 26, 2024 in Huaian, Jiangsu Province of China. China on Wednesday announced that it has filed an appeal with the World Trade Organization, asking the organization to rule on the recent tariffs that Canada imposed on Chinese electric vehicles and metal products. The ministry said it filed a lawsuit against what it called Canada's "unilateralism and trade protectionist practices" with the WTO, adding that it also launched an anti-discrimination investigation into Ottawa's restrictive measures. These measures will "disrupt and distort the global industrial chain and supply chain," the ministry added. Canada's Ministry of Foreign Affairs did not immediately respond to CNBC's request for comment.

Organizations: Wednesday, World Trade Organization, Union, China's Ministry of Commerce, China, Canada's Ministry of Foreign Affairs Locations: Huaian, Jiangsu Province, China . China, Canada, China, Beijing

☆ China launches probe into Calvin Klein parent over Xinjiang supply chain ‘disruptions’
▼ + stars: | 2024-09-24 | 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 Tuesday it was launching a probe into Calvin Klein-parent PVH Group over alleged business disruptions around its Xinjiang supply chain. China's Commerce Ministry on Tuesday did not state why it was probing PVH now, but said the U.S. retail group had 30 days to respond. U.S. defense companies that previously landed on the "unreliable entities" list are barred from China-related imports or exports. PVH did not immediately respond to a CNBC request for comment outside of U.S. business hours.

Persons: Calvin Klein, PVH Organizations: Bund, BEIJING — China's Ministry of Commerce, PVH Group, Huawei, U.S . Commerce, U.S, The U.S . Commerce Department, Monday, China's Commerce, CNBC Locations: Shanghai, China, BEIJING, Xinjiang, Russia, U.S

☆ U.S. firms say confidence in China has hit an all-time low
▼ + stars: | 2024-09-13 | by ( Dylan Butts | ) www.cnbc.com time to read: +4 min

American companies in China are experiencing historically low business confidence and poor profits amid U.S.-China tensions and a slowing Chinese economy. Firms have also lost market share to Chinese competitors which have received more government support, the U.S.-China Business Council added. Their struggles in China have also been felt by EU businesses, according to an EU Chamber of Commerce in China report released on Wednesday. On how the U.S. government could support their firms in China, nearly half of AmCham respondents suggested a reduction of tariffs on Chinese goods. Foreign direct investment into China fell by 29.6% during the January to July period compared to a year ago, according to China's Ministry of Commerce.

Persons: Allan Gabor, Jeff Yuan, Evelyn Cheng Organizations: U.S, American Chamber of Commerce, U.S ., China Business Council, China Business, EU, of Commerce, China's Ministry of Commerce Locations: Shanghai, American, China, Washington, Beijing, U.S, PwC China

☆ European businesses in China reach a 'tipping point' on whether to invest more
▼ + stars: | 2024-09-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Edgar Su | ReutersBEIJING — European businesses in China have grown so discouraged with the outlook for operating in the country that Beijing must act if the companies are to invest further, according to the EU Chamber of Commerce in China. "We do believe actually that we are in sort of a tipping point situation. Foreign direct investment into China fell by 29.6% during the January to July period versus a year ago, according to China's Ministry of Commerce. Such changes are part of Beijing's pledges to reduce what it calls the negative list, a collection of industries off-limits to foreign businesses in the country. However, Eskelund said such developments, while encouraging, did not move the needle enough for European businesses, especially when members' optimism on profitability in China for the next two years is at an all-time low.

Persons: Edgar Su, Jens Eskelund, Eskelund Organizations: of, Initiative, Reuters, EU Chamber of Commerce, China's Ministry of Commerce Locations: Beijing, China, Reuters BEIJING, Growth

☆ China’s state media: Canada is 'shooting itself in the foot’ with new EV tariffs
▼ + stars: | 2024-08-28 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +3 min

BEIJING, CHINA - DECEMBER 04: China and Canada flag is displayed in front of the Forbidden City on December 4, 2017 in Beijing, China. China's state media has criticized Canada over its decision to impose 100% import tariffs on Chinese electric vehicles, using bolder language than Beijing's official government response. Canada is "shooting itself in the foot" by "following U.S.' protectionist policies," the outspoken editor of the Global Times, a Chinese government mouthpiece, wrote Wednesday. On Monday, Canada announced that it would import 100% tariffs on China-made electric vehicles, effective Oct. 1. The Biden administration announced in May significant tariffs on Chinese EVs, advanced batteries, solar cells, steel, aluminum and medical equipment.

Persons: Biden, Lin Jian, Lin, Justin Trudeau, –, Sheila Chiang Organizations: Global Times, Communist Party, European Union, European, China's Ministry of Commerce, Foreign Ministry, Ottawa Locations: BEIJING, CHINA, China, Canada, City, Beijing, U.S, EVs

☆ China slams U.S. for adding firms to export control list over alleged support for Russian military
▼ + stars: | 2024-08-26 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

U.S. President Joe Biden and Chinese President Xi Jinping before a meeting during the Asia-Pacific Economic Cooperation leaders' week in Woodside, California, Nov. 15, 2023. China on Sunday said it "resolutely opposes" the U.S. decision to add multiple Chinese entities to its export control list in a bid to further curb Russia's access to advanced U.S. technology required for its weapons. The U.S. on Friday said it is tightening export controls to "further restrict the supply of both U.S.-origin and 'U.S. A total of 123 entities were added to the list, including 42 located in China, 63 from Russia and 14 in Türkiye, Iran, and Cyprus. Firms on the "Entity List" are subjected to export restrictions and licensing requirements for certain technologies and goods.

Persons: Joe Biden, Xi Jinping, Alan Estevez Organizations: Economic Cooperation, Xinhua, China's Ministry of Commerce, Firms, Commerce, Industry Locations: Asia, Woodside , California, China, Beijing, U.S, Russia, Belarus, Ukraine, Türkiye, Iran, Cyprus

☆ The U.S. needs more of this critical metal — and China owns 80% of its supply chain
▼ + stars: | 2024-07-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Picture Alliance | Picture Alliance | Getty ImagesBEIJING — China dominates the supply chain for many of the world's critical minerals, but so far it's held off on sweeping restrictions on at least one: tungsten. Almonty claims the forthcoming mine in South Korea has the potential to produce 50% of the world's ex-China tungsten supply. "We see in the U.S., in Europe, they ask their suppliers for a China-free supply chain," said Michael Dornhofer, founder of metals consulting firm Independent Supply Business Partner. watch nowBack in January, U.S.-based research firm Macro Ops said: "We're approaching an inflection point in tungsten supply. Other non-Chinese companies in the tungsten supply chain are going to South Korea.

Persons: Lewis Black, Biden, Black, Yadong, Almonty, Michael Dornhofer, Dornhofer, Brandon Beylo, he's, Mark Seddon, Warren Buffett Organizations: Saxony Minerals, ., Getty, Taiwan Semiconductor Manufacturing Company, Nvidia, Almonty Industries, China's Ministry of Commerce, Independent Supply, Energy, Security Holdings, European, Chinese Communist Party, U.S . Bureau of Industry, Security, Department of Commerce, CNBC, Argus, IMC, IMC Group Locations: Germany, BEIJING, China, Canada, South Korea, U.S, Europe, United States, South Korea China, North Korea, Africa, Myanmar, Daegu

☆ China's EV architect says investing in Europe is a way forward
▼ + stars: | 2024-06-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

HEFEI, China — The man who spearheaded China's electric car strategy on Wednesday said that Chinese investment in the European electric vehicles industry could be a way forward for both sides amid trade tensions. Spokespersons for China's foreign ministry and the European Commission were not immediately available when contacted by CNBC. China's Ministry of Commerce said over the weekend that it was launching consultations with the EU over the bloc's probe into the role of subsidies in Chinese electric cars. The EU said earlier this month that it would increase tariffs on imports of the vehicles. "Even though we are not exporting a large number of EVs, perhaps the Chinese companies can try investing in Europe," Wan said, noting that such funding could create local jobs.

Persons: Wan Organizations: Wan Gang, China Association for Science, Technology, European Commission, CNBC, China's Ministry of Commerce, EU Locations: HEFEI, China, EU, Dalian, Europe

☆ China launches anti-dumping probe into imported EU pork as trade tensions grow
▼ + stars: | 2024-06-18 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Beijing has launched an anti-dumping investigation aimed at certain pork products from the European Union, days after the Brussels raised tariffs on Chinese vehicles. China's Ministry of Commerce announced Monday it had opened an investigation into imported pork and its by-products originating from the EU, including pork offal, pig fat, pig intestines, bladders, and stomachs. The investigation is expected to conclude within 12 months, though it could be extended for a further six months, the ministry said. The European Union Chamber of Commerce in China said the EU pork investigation was Beijing's retaliation for recent tariffs on Chinese EVs. In response to questions, a Chinese commerce ministry official said the probe was first initiated by a formal complaint by a domestic industry group, the China Animal Agriculture Association.

Organizations: European Union, China's Ministry of Commerce, European Union Chamber of Commerce, EU EV, CNBC, China Animal Agriculture Association Locations: Beijing, Brussels, China

Employees work on the assembly line of new energy vehicles at a factory of Chinese EV startup Leapmotor on April 1, 2024 in Jinhua, Zhejiang Province of China. The additional tariffs are the result of an EU probe that began in October. Main Chinese BEV producer BYD was struck with a 17.4% tariff, with Geely slapped with a 20% duty. "We strongly oppose the use of increased tariffs as a strategy to obstruct the normal global trade of electric vehicles. watch nowGlobal EV trade tensions

Persons: Shi Kuanbing, Valdis Dombrovskis, Dombrovskis, BEV, BYD, Geely, Elon Musk's Tesla, Tesla, Nio Organizations: Visual China, Getty, Union, EV, European Commission, EU, CNBC, China's Ministry of Commerce, Google, World Trade Organization, SAIC, Global Locations: Jinhua, Zhejiang Province, China, Europe, Shanghai

☆ China sanctions Boeing, two U.S. defense contractors for Taiwan arms sales
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: +1 min

Wang Wentao, China's commerce minister, attends a news conference on the sidelines of the National People's Congress in Beijing, China, on Wednesday, March 6, 2024. China's Ministry of Commerce announced sanctions against Boeing and two other defense companies Monday for arms sales to Taiwan, on the day of Taiwan's presidential inauguration. The move is the latest in a series of sanctions Beijing has announced in recent years against defense companies for weapons sales to Taiwan, a self-ruled island that China considers as part of its own territory. Lai Ching-te, Taiwan's new president, has vowed to strengthen Taiwan's security through imports of advanced fighters and other technology and strengthening its domestic defense industry. In April, China froze assets of General Atomics Aeronautical Systems and General Dynamics Land Systems held within China.

Persons: Wang Wentao, Lai Ching Organizations: National People's Congress, China's Ministry of Commerce, Boeing, Boeing's Defense, Space & Security, General Atomics Aeronautical Systems, General Dynamics Land Systems Locations: Beijing, China, Taiwan, China's

☆ China retail sales, investment data miss expectations in April
▼ + stars: | 2024-05-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

BEIJING — China reported data Friday that pointed to slower growth on the consumer side while industrial activity remained robust. Retail sales rose by 2.3% in April from a year ago, the National Bureau of Statistics said. That was less than the 3.8% increase forecast by a Reuters poll, and slower than the 3.1% pace reported in March. But fixed asset investment rose by 4.2% for the first four months of the year, lower than the 4.6% expected increase. Statistics bureau spokeswoman Liu Aihua pointed out that last year, the multi-day May 1 Labor Day holiday had included two days in April.

Persons: Liu Aihua, Liu Organizations: National Bureau of Statistics, China's Ministry of Commerce, Labor, Statistics, Oxford Locations: Huai'an, China, BEIJING — China

☆ Biden promise to rival China on shipbuilding faces a big economic problem
▼ + stars: | 2024-04-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

The Biden administration is correct that China has not played fair. But he said the nations that could rival China in shipbuilding are Asian competitors. Shipbuilding subsequently dropped to around five ships per year, which is approximately the current rate of U.S. shipbuilding. President Joe Biden speaks to members of the United Steel Workers Union at the United Steel Workers Headquarters on April 17, 2024 in Pittsburgh, Pennsylvania. Biden announced new actions to protect American steel and shipbuilding industries including hiking tariffs on Chinese steel.

Persons: Biden, Ben Nolan, Nolan, Reagan, Joe Biden, Jeff Swensen, —, Darron, Wadey, Lloyd, Matson, George Washington, Ronald O'Rourke, O'Rourke Organizations: Mitsui Shipbuilding Co, Taicang Port Economic, Technological, Future Publishing, Getty, CNBC, Shipbuilding, Global, United States, Trade, U.S . Trade, U.S, China's Ministry of Commerce, United Steel Workers, Japan's Nippon Steel, United Steel Workers Union, United Steel Workers Headquarters, Analysts, Matson Shipping, Jones Act, Philly Shipyard, CMA CGM, Matson, United, Maritime Administration, U.S ., Huntington Ingalls Industries, News Shipbuilding, U.S . Navy, U.S Navy, Newport News Shipbuilding, Virginian Pilot, Tribune, Service, Force, warfighting, Navy, Biden, Congressional Research Service Locations: Taicang Port, Suzhou, Jiangsu province, China, U.S, Japan, South Korea, United States, Pennsylvania, Pittsburgh , Pennsylvania, American, Bangladesh, U.S . Virgin Islands, Great, Mississippi, Ohio

☆ China slams U.S. probe into its shipbuilding industry, says move is a 'mistake on top of a mistake'
▼ + stars: | 2024-04-18 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

China said it "firmly opposes" the U.S. investigation into its maritime, logistics and shipbuilding industries, calling the move a "mistake on top of a mistake." In an official statement late Wednesday, China's ministry of commerce said the U.S. provides hundreds of billions of dollars in "discriminatory" subsidies to its domestic industries, "yet accuses China of adopting so-called 'non-market practices.'" "In fact, the development of China's industries is the result of companies' technological innovation and active participation in market competition," the Chinese ministry said. On Wednesday, the Office of the U.S. Trade Representative initiated a probe into China's maritime, logistics and shipbuilding industries, alleging that Beijing used "unfair, non-market policies and practices" to dominate these sectors. "By launching a new Section 301 investigation, the U.S. is making a mistake on top of a mistake," the China's commerce ministry said.

Persons: Joe Biden, Xi Jinping, China's Organizations: Economic Cooperation, U.S . Trade, Trade Locations: Asia, Woodside , California, China, U.S, Beijing

☆ China's policy to boost demand by $700 billion will have a 'bigger and bigger' impact, official says
▼ + stars: | 2024-04-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Vcg | Visual China Group | Getty ImagesBEIJING — China's latest policy to boost demand will soon have a greater effect on growth, a top official at the economic planning agency told reporters Thursday. "We believe this work will achieve bigger and bigger results," he said in Mandarin, translated by CNBC. He noted that equipment upgrades account for 9% to 10% of total GDP. 'Strong' central government fiscal supportIn terms of fiscal funding for those upgrades, Zhao said the central government would provide "strong support." Part of the equipment upgrade and consumer trade-in policy also focuses on improving standards for the kinds of products that can be used.

Persons: That's, Zhao Chenxin, Goldman Sachs, Morgan Stanley, Zhao, Bruce Pang, Fu Jinling, Fu, Francoise Huang, We're, JLL's Pang, Shan Zhongde Organizations: Visual China, Getty, BEIJING, National Development, Reform Commission, CNBC, Analysts, People's Bank of, Allianz Trade, Ministry of Industry, Information Technology, Ministry of Housing, Ministry of Commerce, State Administration, Market, China's Ministry of Commerce, Industry, Global Locations: Qingzhou, Weifang City, Shandong Province, China, oversupply, Beijing, JLL, People's Bank of China

☆ China says innovations, not subsidies, are powering EV edge as Yellen raises 'overcapacity' concerns
▼ + stars: | 2024-04-08 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

(Photo by BAY ISMOYO / AFP) (Photo by BAY ISMOYO/AFP via Getty Images)China's Minister of Commerce Wang Wentao said that the speedy rise of the country's electric vehicle firms was not because of subsidies, but due to "constant innovations." The allegations about "overcapacity" by the U.S. and Europe are without merit, he said, China's Ministry of Commerce reported Monday. Wang also attributed China's EV edge to "well-established supply chain system and market competition." The roundtable discussion centered around the European Union's anti-subsidy probe into electric vehicle imports from China, among other topics, according to the statement. Wang noted that the Chinese EV industry has "made an important contribution to the global response to climate change as well as green and low-carbon transformation."

Persons: ISMOYO, Commerce Wang Wentao, Wang Organizations: Getty, Commerce, U.S, China's Ministry of Commerce, EV, Commerce Ministry, EU Locations: Jakarta, Indonesia, AFP, Europe, Paris, China

☆ TikTok aside, Congress has its eye on the U.S. money going into China
▼ + stars: | 2024-03-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

The House Select Committee on the CCP, established in January last year, led the legislative act to essentially ban TikTok in the U.S. if its Chinese parent ByteDance doesn't sell the popular social media app. watch nowThe House select committee in February also published a report alleging U.S. venture capital firms invested billions "into PRC companies fueling the CCP's military, surveillance state and Uyghur genocide." Similar research detailing the links between U.S. capital, venture firms in China and Chinese tech startups has started making its rounds in major media outlets since late 2023. The Senate in July overwhelmingly passed a bill that would have required U.S. investors in advanced Chinese technology to notify the Treasury Department. The Biden administration in August issued an executive order aimed at restricting U.S. investments into semiconductor, quantum computing and artificial intelligence companies citing national security concerns.

Persons: Ken Cedeno, that's, Mike Gallagher, Gallagher, Andrew King, King, Biden, Michael McCaul, Gregory W, Meeks Organizations: U.S, Capitol, Reuters, The U.S, Congress, Chinese Communist Party, CNBC, House Armed, Technologies, Innovation, Intelligence, CCP, Future, Ventures, Treasury Department, Treasury, Foreign, China's Ministry of Commerce, Financial Regulatory Administration Locations: Washington , U.S, Reuters BEIJING, The, China, United States, U.S, Beijing, San Francisco

☆ 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

☆ China calls on foreign businesses to share their problems as investment slumps
▼ + stars: | 2024-03-01 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

While the Commerce Ministry meeting did not reveal much new progress on the 24 measures to support foreign business that were announced last summer, attendees said they were able to share specific challenges about doing business in China. The ministry said representatives from more than 60 foreign businesses and 9 associations attended Wednesday's roundtable. Foreign direct investment into China has fallen to its lowest level in three years, according to official data, amid geopolitical tensions and slowing growth in the country. Hart said that it's hard for companies not yet in China to complete due diligence and approve new investments. Biden, who faces re-election this fall, has emphasized the need to compete with China while finding areas of cooperation.

Persons: Aly Song, MofCom, Jens Eskelund, Eskelund, Michael Hart, Hart, Joe Biden, Xi Jinping, Biden Organizations: Chinese Communist Party, Reuters, Reuters BEIJING — China's Ministry of Commerce, Commerce Ministry, EU Chamber of Commerce, Cyberspace Administration of, China's Ministry of Commerce, American Chamber of Commerce, U.S, U.S . Transportation Department Locations: China, U.S, Yiwu, Zhejiang province, Reuters BEIJING, Beijing, Cyberspace Administration of China, San Francisco

☆ CNBC Daily Open: Wall Street unfazed by hot inflation data
▼ + stars: | 2024-03-01 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nikkei nears record levelJapan's Nikkei 225 closed just shy of the 40,000 level, hitting a fresh record high of 39,910.82, up 1.9%. Overnight, Wall Street ended on a high note as the Nasdaq Composite hit its first closing record since November 2021, rising 0.9%. [PRO] Europe's 'Super 7'Citi picked "Super 7" European stocks that it said are similar to the "Magnificent 7" U.S. technology stocks but have cheaper valuations leaving more room for them to rise.

Persons: Bob Parker Organizations: CNBC, Nikkei, CSI, Nasdaq, Dow, Ministry of Commerce, Capital Markets Association, Citi Locations: China, U.S, Europe

☆ China could face more chip restrictions in 2024, analysts say
▼ + stars: | 2024-01-18 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

China could face more semiconductor export curbs from the likes of the U.S. and the Netherlands to contain the Asian powerhouse's chip tech, analysts told CNBC. Earlier this year, the Netherlands blocked Dutch semiconductor equipment maker ASML from exporting some of its deep ultraviolet lithography systems to China. It came after the U.S. tightened export controls on advanced semiconductors and chipmaking tools to China in October last year, building on previous rules. "I wouldn't be surprised if there's more [U.S. restrictions] coming just because we're still in the middle of this tit-for-tat. Beijing slammed the Dutch government's move, urging the Netherlands to "uphold an objective and fair position and market principles."

Persons: we're, Dan Hutcheson Organizations: CNBC, U.S, China's Ministry of Commerce Locations: China, Netherlands, Beijing, U.S, TechInsights

☆ 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

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