Latest news with #Chinese-invested
Qatar Tribune
06-07-2025
- Business
- Qatar Tribune
Chinese investors weigh US economic promise amid geopolitical hurdles
Agencies Most local government officials in the US still welcome Chinese-invested projects despite a rise in trade tensions this year, a Chinese chamber of commerce leader said this week as potential investors weigh up economic benefits and geopolitical risks. City leaders want Chinese investment to help stimulate their local economies, especially in manufacturing projects that are hard to source elsewhere, said Ni Pin, chairman of the China General Chamber of Commerce branch in Chicago. 'There are a lot of people who want to come over here,' he said. 'They are more concerned about geopolitics. The question is, 'are you welcome here?'' Chinese manufacturers see the potential to make money in the wealthy United States market, he said, and US President Donald Trump's tariffs on Chinese imports have increased the urgency for companies to produce in the US for domestic sales. Ni said that 'yelling and screaming' by national-level political leaders had deterred some investors from applying for investment permits because they feared that American officials at the local level would also prefer they stay away. In the Midwestern states of Illinois and Wisconsin, mayors are 'very receptive' to Chinese investment, said Ker Gibbs, a partner at American business advisory Foresight Restructuring, citing personal contacts in the region. The mayor of Wausau, a city in Wisconsin with a population of 40,000, is explicitly looking for Chinese investments linked to agriculture and possibly the automotive sector, given that industry's prominence in surrounding parts of the Midwest, Kerr said. California and New York state have 'historically been happy' for Chinese to buy real estate or invest in tech start-ups, said Denny Roy, a senior fellow at the East-West Centre think tank in Hawaii. Most voters in those states did not favour Trump's Republican Party, Roy said, meaning they were less influenced by its 'hawkish' views towards Deputy Mayor Kenya Merritt sent the chamber a letter in December saying she was 'eager to work with Chinese businesses to create jobs, promote innovation, and enhance cultural exchanges'. She offered the city's help in talent development, tax incentives and a streamlined permitting process. Ni said American carmakers would find it hard to get certain made-in-China parts from other sources, raising the appeal of projects that would produce such components. His company, Wanxiang American, makes some of them. Gibbs said pragmatists in local and state government 'still see Chinese investment as a positive thing that creates jobs and opportunities'. 'Everyone has heightened awareness for national security, so the sectors would have to be clearly benign,' he said. 'Consumer products and appliances are fairly safe.' But a Chinese firm's welcome in the US depends on how Americans near a proposed project see China's role in geopolitical issues such as the South China Sea dispute, which involves US allies, Gibbs said. Roy said American local governments were also on the alert now for any 'siphoning' of innovation by US tech companies, Chinese control over 'crucial' US infrastructure or ownership of land near US military installations.
The Star
10-06-2025
- Business
- The Star
Zimbabwe to ban lithium concentrate exports to boost value-added production
HARARE, June 10 (Xinhua) -- Zimbabwe, a major lithium producer in Africa, announced on Tuesday that it will ban the export of lithium concentrate from January 2027 to boost local refining and generate more revenue from the value-added mineral. Speaking at a post-cabinet media briefing, Mines and Mining Development Minister Winston Chitando said Zimbabwe is building capacity to produce battery-grade lithium through two major Chinese-invested companies Bikita Minerals and Prospect Lithium Zimbabwe. He said the value-added facilities will process lithium concentrate into lithium sulfate, which is a direct input into lithium battery manufacturing. "The two major players are in the process of establishing lithium sulfate plants. As a country, we are moving to a stage where we are upgrading our lithium production to lithium sulfate. Because of that capacity which is now in the country, the export of all lithium concentrates will be banned from January 2027," Chitando said. The minister urged lithium producers who are not investing in value-added facilities to sign tolling agreements with companies that have the processing capacity. Zimbabwe has begun exporting lithium concentrates following the 2022 ban on raw lithium ore exports. Zimbabwe has the largest lithium reserves in Africa. Due to growing global demand for the mineral, which is critical in the new energy drive, the country has witnessed huge investments in the lithium sector in recent years.
The Star
08-05-2025
- Business
- The Star
Zimbabwean official hails Chinese-invested firm for increasing steel production
HARARE, May 8 (Xinhua) -- Zimbabwe is witnessing the revival of its iron and steel industry following the ramp-up of steel production by the Chinese-invested Dinson Iron and Steel Company (DISCO), a senior official from Zimbabwe's ruling party said on Thursday. "We have a new product, which is the export of steel from Zimbabwe. This is also beginning to spur the regeneration of Zimbabwe's downstream steel fabrication sector," said Christopher Mutsvangwa, a politburo member and secretary for information and publicity for the Zimbabwe African National Union-Patriotic Front, while addressing journalists in Harare, the capital of Zimbabwe. DISCO, a subsidiary of China's Tsingshan Holding Group, commenced production last year with pig iron, followed by steel billets, and is now producing steel bars. The company is also expected to start producing bolts, nuts and other steel products. "The technology continues to expand, and the product diversity continues to increase," said Mutsvangwa. The local steel production is expected to support the revival of the heavy steel industry in Bulawayo, Zimbabwe's second-largest city, which was severely affected by the collapse of the domestic steel sector, he added. The closure of a major steel producer in 2008 significantly impacted Zimbabwe's local steel industry, forcing the country to rely on imports. Following the ramp-up of domestic steel production, the Zimbabwean government last Friday introduced new restrictions on the importation of certain steel products.
The Star
03-05-2025
- Business
- The Star
International tourists to Cambodia's renowned Angkor up 12.6 per cent in first four months of 2025
PHNOM PENH (Xinhua): Cambodia's famed Angkor Archaeological Park attracted a total of 474,810 international visitors in the first four months of 2025, up 12.6 per cent year-on-year, said tourism department in a media statement. The ancient park made US$22.2 million in revenue from ticket sales during the cited period, up 11.5 per cent year-on-year, said the news release from the state-owned Angkor Enterprise. Situated in northwest Siem Reap province, the UNESCO-listed Angkor Archaeological Park, the kingdom's most popular tourist destination, is home to 91 ancient temples, which had been built from the ninth to the 13th centuries. Thourn Sinan, chairman of the Pacific Asia Travel Association Cambodia chapter, told Xinhua that he did not expect a sharp increase in tourist arrivals to the Angkor in 2025 due to current geopolitical climate, political changes in the United States, and various crisis impacting global travel. "Unless there are initiatives such as free visas or special incentive packages for destination management companies (DMCs) or travelers, I project that arrivals might remain relatively flat," he said. As 2025 has been designated as the Cambodia-China Year of Tourism, this marks a significant step forward in revitalizing bilateral tourism and people-to-people exchanges, he added. "Chinese tourists have historically played a crucial role in Cambodia's tourism industry," he said. Thong Mengdavid, a lecturer at the Institute for International Studies and Public Policy of the Royal University of Phnom Penh, foresaw that the Cambodia-China Year of Tourism would help lure more Chinese tourists to Cambodia, particularly to the 401-square-km Angkor complex. He said the Chinese-invested Siem Reap Angkor International Airport, the main gateway for international travelers to the Angkor, would definitely help bring more foreign travelers to the Angkor park. - Xinhua
