free-trade zones

MNCs in the News-2019-03-29

Senior Chinese official touts that China will take a slew of measures to welcome more inward foreign direct investment (FDI). In conjunction with its talks with Washington, Beijing will accommodate some of the United States (US)’ demands to expand its financial market opening. Due to Beijing’s new round of liberalizing reforms, the CEO of Royal Dutch Shell said his company plans to expand its presence in China in the upstream and petrochemical manufacturing sectors. Brazil backs away from its criticisms of China in order to attract much needed Chinese FDI.

MNCs in the News-2018-11-30

China moving to improve the business environment for foreign companies, especially in Free Trade Zones (FTZs). China’s National Development and Reform Commission (NDRC) announces that it will permit foreign banks in China to apply for approval for a quota increase in their medium to long-term foreign debt for 2019. Per Donald Trump, the United States may take a bite out of Apple products coming from China which previously have escaped a special 10 percent tariffs on Chinese goods. China’ Huawei finds Kiwis not so soft after New Zealand’s intelligence agency blocks it supplying 5G mobile network equipment to the major domestic telecom provider. Maldives’ new finance minister criticizes true price of Chinese projects, which has led to the Maldives returning to an “India First” policy. Japan’s Mitsubishi Heavy Industries ordered by South Korea’s Supreme Court to pay USD $365,500 in damages to two groups of South Koreans for forced wartime labor. In post-Carlos Ghosn arrest meeting, France suggests to Japanese official “the head of the Renault-Nissan alliance should be from the French automaker.” European firms with business in South Korea push Seoul to upgrade the country’s business regulations to reach international standards. At the 6th Association of Southeast Asian Nations (ASEAN) Connectivity Forum, South Korea’s secretary-general of the ASEAN-Korea Centre states Korea is looking to improve relations with ASEAN countries especially in infrastructure area.

MNCs in the News-2018-11-23

China working to improve opportunities for foreign players in its insurance sector. Shanghai looks to improve services for foreign companies which have a major presence in the city and are a major contributor to its economic successes. European Union moves forward on inward foreign direct investment (FDI) screening mechanism that is not directed at, but has a lot to do with China. Pursuant to Foreign Investment Risk Review Modernization Act (FIRRMA) the United States (US) Committee on Foreign Investment in the US (CFIUS) will now screen much smaller deals in various sectors newly deemed critical, greatly affecting Chinese deals. Philippines’ President Rodrigo Duterte’s move towards China does not seem to have paid off in terms of increased Chinese outward FDI (OFDI) and infrastructure in the Philippines. US prosecutors investigating Mitsubishi UFJ (MUFJ) for potentially allowing North Korea to launder money. To push forward infrastructure projects, Japanese Prime Minister advisor meets with Filipino officials soon after visit of Chinese President. South Korean manufacturers turn attention from China to Vietnam which offers a better policy, tax, and labor cost environment. South Korea’s POSCO Engineering & Construction Co.-led consortium wins major power plant contract in Malaysia.