Trump Blacklists More China Tech Companies Days Before Xi Summit
https://www.bloomberg.com/news/articles ... emium-asia
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US - Trade War (China) 01 (Mar 18 - Jul 23)
Re: US - Trade War (China)
by behappyalways » Sun Jun 23, 2019 7:06 pm
2019.06.22【文茜世界周報】對陸加稅傷美甚深 川普搖擺州民調落後拜登
https://www.youtube.com/watch?v=8AYYKYH ... AU&index=8
2019.06.22【文茜世界周報】習川通話G20會晤 打破美中貿易談判僵局
https://www.youtube.com/watch?v=DtiubJD ... AU&index=7
https://www.youtube.com/watch?v=8AYYKYH ... AU&index=8
2019.06.22【文茜世界周報】習川通話G20會晤 打破美中貿易談判僵局
https://www.youtube.com/watch?v=DtiubJD ... AU&index=7
血要热 头脑要冷 骨头要硬
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Re: US - Trade War (China)
by winston » Tue Jun 25, 2019 11:41 am
US Court Convicts 3 CN Banks of Ignoring N Korea Sanction Related Subpoenas; SPD BANK May Face US Sanction
A US judge convicted three Chinese banks of attempting to refuse complying with subpoenas in respect of North Korean sanction breach, which may spark ban on one of the major Chinese banks to contact with US financial system, The Washington Post reported.
The names of the three involved banks remain unidentified, the report said. Details in court rulings conform with the 2017 civil forfeiture action.
At that time, the US Department of Justice had accused BANKCOMM (03328.HK), CM BANK (03968.HK) and SPD BANK (600000.SH) of linking with a Hong Kong company, which had been alleged of money-laundering for over US$100 million for the sanctioned North Korea state-run Foreign Trade Bank.
SPD BANK may face sanction risk, the report said.
Source: AAStocks Financial News
A US judge convicted three Chinese banks of attempting to refuse complying with subpoenas in respect of North Korean sanction breach, which may spark ban on one of the major Chinese banks to contact with US financial system, The Washington Post reported.
The names of the three involved banks remain unidentified, the report said. Details in court rulings conform with the 2017 civil forfeiture action.
At that time, the US Department of Justice had accused BANKCOMM (03328.HK), CM BANK (03968.HK) and SPD BANK (600000.SH) of linking with a Hong Kong company, which had been alleged of money-laundering for over US$100 million for the sanctioned North Korea state-run Foreign Trade Bank.
SPD BANK may face sanction risk, the report said.
Source: AAStocks Financial News
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Re: US - Trade War (China)
by winston » Thu Jun 27, 2019 7:54 am
Ignore US laws, China banks told
by Terezz Cai
Bu Xiangrui, general counsel of the China Banking Association, said mainland banks - according to Chinese law - should not obey judgments of American courts, and mainland banks are frequently affected by the "long-arm jurisdiction" of the United States, which obviously violates various Chinese laws and regulations.
His remarks came after a US judge found three large Chinese banks, namely China Merchants Bank (3968), Bank of Communications (3328), and Shanghai Pudong Development Bank, in contempt for refusing to comply with subpoenas in an investigation into North Korean sanction violations.
DBS Bank (Hong Kong) said it is unlikely the United States would cut off the three banks' access to the US dollar business, a punishment too severe to implement.
Ken Shih, a Hong Kong and mainland banking and insurance sector analyst, noted that even HSBC, which was connected to the Huawei controversy, was not subjected to such severe punishment.
He said the risks of potential US sanctions on the three banks are minimal, as it is unlikely the United States would wage a "finance war" amid China's opening up of its financial sector.
He said CMB's US dollar assets might account for 5 percent of its total assets, while both Bank of Communications and Shanghai Pudong Development might have 10 percent of their assets denominated in the US dollars.
As for the CMB's share plunge, he said that part of the slump is because the bank's share had risen significantly this year, so the negative news would obviously impact the shares.
Source: The Standard
http://www.thestandard.com.hk/section-n ... 0627&sid=2
by Terezz Cai
Bu Xiangrui, general counsel of the China Banking Association, said mainland banks - according to Chinese law - should not obey judgments of American courts, and mainland banks are frequently affected by the "long-arm jurisdiction" of the United States, which obviously violates various Chinese laws and regulations.
His remarks came after a US judge found three large Chinese banks, namely China Merchants Bank (3968), Bank of Communications (3328), and Shanghai Pudong Development Bank, in contempt for refusing to comply with subpoenas in an investigation into North Korean sanction violations.
DBS Bank (Hong Kong) said it is unlikely the United States would cut off the three banks' access to the US dollar business, a punishment too severe to implement.
Ken Shih, a Hong Kong and mainland banking and insurance sector analyst, noted that even HSBC, which was connected to the Huawei controversy, was not subjected to such severe punishment.
He said the risks of potential US sanctions on the three banks are minimal, as it is unlikely the United States would wage a "finance war" amid China's opening up of its financial sector.
He said CMB's US dollar assets might account for 5 percent of its total assets, while both Bank of Communications and Shanghai Pudong Development might have 10 percent of their assets denominated in the US dollars.
As for the CMB's share plunge, he said that part of the slump is because the bank's share had risen significantly this year, so the negative news would obviously impact the shares.
Source: The Standard
http://www.thestandard.com.hk/section-n ... 0627&sid=2
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Re: US - Trade War (China)
by winston » Thu Jun 27, 2019 2:48 pm
CN, US Initially Agree on Pausing Trade War Escalation, US Sets 6-mth Deadline: Report
China and the US initially agreed on giving a pause to further escalation of trade war before resuming negotiation, South China Morning Post cited sources.
Details of the agreement will be disclosed before leaders of both countries meet at G20 summit.
The agreement will avert the next round of additional tariffs by the US on the remaining over US$300 billion Chinese goods.
US President Donald Trump will grant six-month deadline for a deal, the report cited two sources.
Sources also said both countries will issue press releases separately, instead of a joint statement.
While coordination on the news content will be made, no specific consensus will be reached on the contents related to tariffs and timetable.
Source: AAStocks Financial News
China and the US initially agreed on giving a pause to further escalation of trade war before resuming negotiation, South China Morning Post cited sources.
Details of the agreement will be disclosed before leaders of both countries meet at G20 summit.
The agreement will avert the next round of additional tariffs by the US on the remaining over US$300 billion Chinese goods.
US President Donald Trump will grant six-month deadline for a deal, the report cited two sources.
Sources also said both countries will issue press releases separately, instead of a joint statement.
While coordination on the news content will be made, no specific consensus will be reached on the contents related to tariffs and timetable.
Source: AAStocks Financial News
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Re: US - Trade War (China)
by winston » Fri Jun 28, 2019 10:56 am
White House Adviser Kudlow: No Deals Made before Xi-Trump Meeting, No Preconditions Set before Talks
Top White House economic adviser Larry Kudlow told CNBC there will be no preconditions set
for China-US trade talks, but the US could move forward with additional levies on Chinese goods.
No agreements have been made by both countries prior to the Xi-Trump meeting at G20 summit.
Kudlow said relevant reports were fake news and urged the people not to make speculation or forecast.
President Trump believed the US is in a good spot, thus being pleasant to have talks with President Xi for building a good relationship, Kudlow added.
Source: AAStocks Financial News
Top White House economic adviser Larry Kudlow told CNBC there will be no preconditions set
for China-US trade talks, but the US could move forward with additional levies on Chinese goods.
No agreements have been made by both countries prior to the Xi-Trump meeting at G20 summit.
Kudlow said relevant reports were fake news and urged the people not to make speculation or forecast.
President Trump believed the US is in a good spot, thus being pleasant to have talks with President Xi for building a good relationship, Kudlow added.
Source: AAStocks Financial News
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Re: US - Trade War (China)
by winston » Fri Jun 28, 2019 11:00 am
US Disagrees with 3 Trade Deal Conditions Offered by China: Wire
Chinese President Xi Jinping will suggest to US President Donald Trump three conditions for reaching a trade deal, including the removal of Huawei from US export controls, cancellation of all imposed US tariffs and not demanding China to buy additional US goods (on top of previous agreements), The Wall Street Journal citing sources earlier.
The US will partake in the meeting only if China is willing to pick up trade negotiations from where they left off back in April, Fox Business Network citing US officials.
These officials believed it is unlikely for the US to lift the Huawei ban or agree on suspending the latest levies on Chinese products.
Source: AAStocks Financial News
Chinese President Xi Jinping will suggest to US President Donald Trump three conditions for reaching a trade deal, including the removal of Huawei from US export controls, cancellation of all imposed US tariffs and not demanding China to buy additional US goods (on top of previous agreements), The Wall Street Journal citing sources earlier.
The US will partake in the meeting only if China is willing to pick up trade negotiations from where they left off back in April, Fox Business Network citing US officials.
These officials believed it is unlikely for the US to lift the Huawei ban or agree on suspending the latest levies on Chinese products.
Source: AAStocks Financial News
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Re: US - Trade War (China)
by winston » Sat Jun 29, 2019 5:48 pm
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: US - Trade War (China)
by behappyalways » Sun Jun 30, 2019 6:21 pm
2019.06.29【文茜世界周報】G20史無前例的分裂 棘手議題矛頭都指向川普
https://www.youtube.com/watch?v=Pjq8N_2 ... ex=11&t=0s
https://www.youtube.com/watch?v=Pjq8N_2 ... ex=11&t=0s
血要热 头脑要冷 骨头要硬
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Re: US - Trade War (China)
by winston » Wed Jul 03, 2019 2:05 pm
Fidelity Int'l: Near-term Trade Truce Conditions Not Optimistic
Terrence Kan, Investment Director, Regional Institutional Business, Asia ex Japan, Fidelity International, said the conditions for a near-term trade truce were far from optimistic, given the time required for negotiations and complicated negotiating conditions regarding the Huawei incident.
The company mentioned that the US still sees a fluctuating inflation despite stabler unemployment rate, adding there might be rate cuts in September and October apart from the anticipated one in July.
While the manufacturing sector is said to be moving out of China, Fidelity suggested the relocation will not happen in near term as China still outpaces Southeast Asian regions in terms of labor force and education level.
Source: AAStocks Financial News
Terrence Kan, Investment Director, Regional Institutional Business, Asia ex Japan, Fidelity International, said the conditions for a near-term trade truce were far from optimistic, given the time required for negotiations and complicated negotiating conditions regarding the Huawei incident.
The company mentioned that the US still sees a fluctuating inflation despite stabler unemployment rate, adding there might be rate cuts in September and October apart from the anticipated one in July.
While the manufacturing sector is said to be moving out of China, Fidelity suggested the relocation will not happen in near term as China still outpaces Southeast Asian regions in terms of labor force and education level.
Source: AAStocks Financial News
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