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☆ European companies in China are under pressure from slower growth, overcapacity
▼ + stars: | 2024-05-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — European companies in China are finding it harder to make money in the country as growth slows and overcapacity pressures increase, according to a survey released Friday by the EU Chamber of Commerce in China. Only 30% of EU Chamber survey respondents said their profit margins were higher in China than their company's worldwide average — an eight-year low. Jens Eskelund EU Chamber of Commerce in China, presidentChina's economy is now far bigger than it was in 2015 and 2016. More than one-third of EU Chamber survey respondents said they observed overcapacity in their industry in the last year, and another 10% expect to see it in the near future. "This is not just European companies whining," Eskelund said.

Persons: Carlo D'Andrea, D'Andrea, Jens Eskelund, Eskelund, overcapacity Organizations: Nurphoto, Getty, EU Chamber of Commerce, EU, of Commerce, U.S, Bureau, Statistics, Cosmetics Locations: Minhou County, Fuzhou, China, BEIJING, Shanghai, Beijing

☆ Schools, subways disrupted as storm batters China's south
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

Residents holding onto safety lines waded cautiously through knee-deep floodwaters late on Thursday in Shenzhen, a metropolis of 17.7 million people, videos from state-backed Xinhua showed. Daily rainfall in the city located in the Pearl River Delta linking Hong Kong to China's mainland was expected to exceed 500 mm, Shenzhen media said. Still, Shenzhen's observatory has issued emergency warnings advising residents to stay indoors, warning downpours were abrupt and intense. Some Shenzhen districts closed offices while all schools were suspended. Authorities suspended services at Liantang Port and Wenjindu Port connecting Shenzhen and Hong Kong due to flood damage.

Persons: Haikui, Liz Lee, Neil Fullick Organizations: cnsphoto, REUTERS Acquire, Rights, China Meteorological Administration, Xinhua, Authorities, Thomson Locations: Minhou county, Fuzhou, Fujian province, China, Rights BEIJING, Shenzhen, Guangdong, Hong Kong, Fujian, Waters, Futian, Liantang, Wenjindu Port, Guangzhou, Zhuhai, Shanghai

☆ South China soaks as rains from Haikui continue to pound region
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] An aerial view shows flooded villages in Minhou county after heavy rains brought by typhoon Haikui, in Fuzhou, Fujian province, China September 5, 2023. cnsphoto via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. Acquire Licensing RightsBEIJING, Sept 7 (Reuters) - The remnants of Typhoon Haikui drenched China for a third day since making landfall, as moisture-laden clouds dumped rain onto the country's south despite weakening cyclonic winds. Later this week, the storms are expected to continue in Guangxi bringing the southwestern region extreme rainfall on Friday and Saturday before potentially dissipating on Sunday. Haikui's storms flooded parts of southeastern Fujian province where it landed early on Tuesday, forcing 294,100 people to evacuate, inundated 9,949.7 hectares (24,586.24 acres) of crops and damaged nearly 2,540 homes. Intense rains in the city of Fuzhou shattered 12-year-old rainfall records, surpassing the amount brought by Typhoon Doksuri late July.

Persons: Typhoon Doksuri, Liz Lee, Christian Schmollinger Organizations: cnsphoto, Rights, China Meteorological Administration, Authorities, Thomson Locations: Minhou county, Fuzhou, Fujian province, China, CHINA, Rights BEIJING, downpours, Guangdong, Tangxi, Jiangxi, Hunan province, Guangxi, Hainan, Guilin, Laibin, Fujian, Xiamen, Shanghai

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