Bloomberg: After RCEP, China-EU investment negotiations have completed a major breakthrough
According to an EU official, China and the EU have reached an agreement on bilateral investment principles.
German Chancellor Merkel and French Chancellor Macron have agreed to the agreement and will be discussed by EU member states on Friday.
The negotiation of the agreement started in 2013, but in the past six years or so, due to issues such as labor and sustainable development, it has not been passed.
Once the China-EU Comprehensive Investment Agreement is passed, it will reshape China-EU economic relations. This undoubtedly has important practical significance for the gradually ossified political relations between China and Europe.
Bloomberg: China’s comprehensive sanctions against Australia
With the gradual deterioration of China-Australia relations, a series of measures taken by China against Australia have affected the export of Australian goods totaling more than 10 billion US dollars.
Some of these sanctions are on the surface, such as anti-dumping duties on Australian barley and red wine. Australia can appeal these sanctions to the WTO.
But many sanctions are hidden. For example, China has never acknowledged restrictions on Australian coal mines, but China has restricted the import of European coal mines by similar verbal notifications to importing companies. This leaves the Australian government at a loss.
In addition, China also restricts Australian beef and lobster through quarantine and other reasons, and prohibits the import of Australian timber due to pest problems.
Nikkei Asian Review: Trade surplus surpasses Japan, Vietnam provokes American jealousy
Vietnam’s trade surplus with the United States reached 58 billion U.S. dollars in the year ended June this year, surpassing Japan’s 57 billion U.S. dollars. In the first 10 months of this year, Vietnam even took the third place, second only to China and Mexico.
As a result, the U.S. Treasury Department has designated Vietnam as a currency manipulator and can use it to impose sanctions on Vietnam. Trump called Vietnam “the biggest villain who takes advantage of everyone”, even worse than China.
Vietnam has benefited a lot from the trend of multinational companies adopting the “China+1” strategy to diversify supply chain risks. A large number of multinational companies have transferred part of their production capacity to Vietnam.
Financial Times: Google continues to burn money for DeepMind
According to the latest accounts, DeepMind, an artificial intelligence company that has developed AlphaGo, which has successively defeated Ke Jie and Li Shishi, lost 1.6 billion pounds again.
Since the acquisition of DeepMind in 2014, Google has been burning money to provide the company with access to technical talents and a stable flow of funds.
DeepMind not only loses money without a bottom line, but its revenue capability is also worrying. Although income seems to be growing in recent years, it is nothing compared to losses.
Despite years of losses, Google still does not let go, saying it will continue to provide financial support for DeepMind
Reuters: After 21 years, China adds another national asset management company
The China Banking and Insurance Regulatory Commission said on Thursday that it approved the opening of China Galaxy Asset Management Co., Ltd.
This is the fifth asset management company in China that specializes in handling non-performing loans and assets. The company enjoys the right to purchase and invest in non-performing assets of financial institutions, and to conduct bankruptcy reorganization and management.
The other four are China Huarong, China Great Wall, China Orient and China Cinda, all of which were established in 1999. This is the first time that China has added a national professional non-performing asset disposal agency after 21 years.
This time, the fifth addition is mainly to respond to the pressure of non-performing assets that China may face in the future caused by the epidemic.
Reuters: Global chips are in emergency
It is reported that global chip production cannot keep up with the pace of rebound in consumer demand, leading to a shortage of chips in industries such as automobiles and electronics.
There are many reasons for this situation, including the large purchase of chips by Huawei, the fire at the AKM semiconductor factory in Japan, the blockade of Southeast Asian countries, and the strike in France.
But the most fundamental reason is that Asian companies that dominate the chip market have insufficient investment in the production of 8-inch wafers. Among them, manufacturers like TSMC have reached their capacity limit.
As a result, many companies have to announce that they will slow down production progress or increase product prices.
Bloomberg: IMAX and China expand again
It is reported that IMAX and China Jinyi Film and Television have once again signed a new agreement to upgrade the 7 most popular IMAX theaters under Jinyi into the industry’s cutting-edge IMAX laser projection system. In addition, Jinyi will add another five Home IMAX theater.
The CEO of Imax said that he has full confidence in the Chinese market and eagerly hopes to expand its business scope in China.
Imax now owns about 700 theaters in China, and said that by 2023, it will add another 400. After the Chinese-language movies became popular, the company also said it would release more Chinese-language movies.