Weekly Round-Up: Top 5 International Stories On China
June 22, 2015 by Blog Editor
Top international stories this week include China coming closer to finishing its artificial island project and moves to make it easier for Taiwanese citizens to travel to China.
- South China Sea
Beijing has announced that it is close to being finished with its building of artificial islands in the South China Sea. The USA has begun speaking out against this construction more in recent weeks. This has led the two countries to agree to talk about the issue at the Strategic and Economic Dialogue this week.
- Australian Free Trade
China and Australia’s free trade agreement has been formally signed to allow more access for Australian beef and wine. In return, Chinese carmaker and electronic companies will gain ground in Australia. This move has not went without scrutiny as politicians like Senator Nick Xenophon has expressed fears that Australia’s sovereignty will be hurt since the agreement will allow Chinese firms to sue Australia’s federal and state governments.
Hershey Chocolate has announced that it will be cutting 300 jobs due to a slowdown in China’s market. Recently it has been noted that Chinese citizens are not huge fans of the chocolate, perhaps because chocolate is not very popular overall in China. This has led Hershey to make plans to focus on small stores in the country.
In the upcoming years, Cisco will invest more than $10 billion in China after meeting with Chinese Vice Premier Wang Yang. The money will be used for innovation, research, development, job creation, and equity investment.
China has new tax policies fixed towards boosting cross-border e-commerce. This move will make it easier for overseas payments and help e-commerce firms work internationally.
China is working on making it easier for Taiwanese citizens to travel to China. As a result, Taiwanese will no longer have to apply for entry permits.
By Christian Manley