Latest news with #EuropeanChamber
Time of India
3 days ago
- Business
- Time of India
China may relax rare earth export curbs for some chip companies
China may relax curbs on exports of rare earths for Chinese and European semiconductor firms and other companies in their supply chain, state media said on Wednesday. In April, China put seven rare earths and related products on an export control list, forcing all exporters to apply for licences, regardless of the nationality of overseas customers. While a few licences have since been granted to exporters of rare earth magnets , used in the semiconductor, auto and defence industries, the complex licensing process can take months, and is already causing confusion at customs. On Wednesday, the official China Daily said China could relax the controls for the supply chains of Chinese and European semiconductor companies, citing a single source. The rare earth controls were discussed at a meeting between Chinese and European semiconductor firms hosted by China's commerce ministry on Tuesday, the paper said, where Chinese officials explained the application process. "The meeting provided European Chamber members the opportunity to express in person the urgent need to accelerate approval processes, to ensure the stability of their supply chains," said Jens Esklund, president of the European Union Chamber of Commerce in China. "This is imperative, as many European production lines will come to a halt very soon due to the shortage of crucial inputs," he added in a statement to Reuters.
Time of India
3 days ago
- Business
- Time of India
China may relax rare earth export curbs for some chip companies
China may relax curbs on exports of rare earths for Chinese and European semiconductor firms and other companies in their supply chain, state media said on Wednesday. In April, China put seven rare earths and related products on an export control list, forcing all exporters to apply for licences, regardless of the nationality of overseas customers. While a few licences have since been granted to exporters of rare earth magnets , used in the semiconductor, auto and defence industries, the complex licensing process can take months, and is already causing confusion at customs. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. On Wednesday, the official China Daily said China could relax the controls for the supply chains of Chinese and European semiconductor companies, citing a single source. The rare earth controls were discussed at a meeting between Chinese and European semiconductor firms hosted by China's commerce ministry on Tuesday, the paper said, where Chinese officials explained the application process. Live Events "The meeting provided European Chamber members the opportunity to express in person the urgent need to accelerate approval processes, to ensure the stability of their supply chains," said Jens Esklund, president of the European Union Chamber of Commerce in China. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories "This is imperative, as many European production lines will come to a halt very soon due to the shortage of crucial inputs," he added in a statement to Reuters.
Yahoo
3 days ago
- Business
- Yahoo
China may relax rare earth export curbs for some chip companies
BEIJING (Reuters) - China may relax curbs on exports of rare earths for Chinese and European semiconductor firms and other companies in their supply chain, state media said on Wednesday. In April, China put seven rare earths and related products on an export control list, forcing all exporters to apply for licences, regardless of the nationality of overseas customers. While a few licences have since been granted to exporters of rare earth magnets, used in the semiconductor, auto and defence industries, the complex licensing process can take months, and is already causing confusion at customs. On Wednesday, the official China Daily said China could relax the controls for the supply chains of Chinese and European semiconductor companies, citing a single source. The rare earth controls were discussed at a meeting between Chinese and European semiconductor firms hosted by China's commerce ministry on Tuesday, the paper said, where Chinese officials explained the application process. "The meeting provided European Chamber members the opportunity to express in person the urgent need to accelerate approval processes, to ensure the stability of their supply chains," said Jens Esklund, president of the European Union Chamber of Commerce in China. "This is imperative, as many European production lines will come to a halt very soon due to the shortage of crucial inputs," he added in a statement to Reuters.
Reuters
3 days ago
- Business
- Reuters
China may relax rare earth export curbs for some chip companies
BEIJING, May 28 (Reuters) - China may relax curbs on exports of rare earths for Chinese and European semiconductor firms and other companies in their supply chain, state media said on Wednesday. In April, China put seven rare earths and related products on an export control list, forcing all exporters to apply for licences, regardless of the nationality of overseas customers. While a few licences have since been granted to exporters of rare earth magnets, used in the semiconductor, auto and defence industries, the complex licensing process can take months, and is already causing confusion at customs. On Wednesday, the official China Daily said China could relax the controls for the supply chains of Chinese and European semiconductor companies, citing a single source. The rare earth controls were discussed at a meeting between Chinese and European semiconductor firms hosted by China's commerce ministry on Tuesday, the paper said, where Chinese officials explained the application process. "The meeting provided European Chamber members the opportunity to express in person the urgent need to accelerate approval processes, to ensure the stability of their supply chains," said Jens Esklund, president of the European Union Chamber of Commerce in China. "This is imperative, as many European production lines will come to a halt very soon due to the shortage of crucial inputs," he added in a statement to Reuters.
New York Times
4 days ago
- Business
- New York Times
Doing Business in China Is Getting Harder, but Its Exports Are Hard to Resist
European companies, many of which have operated in China for decades, are finding it increasingly difficult to do business in the country, another sign of how China's weak domestic economy and opaque regulations are testing even longstanding multinational business ties. European automakers have been rapidly losing market share and face many political difficulties. Volkswagen agreed last December to sell its factory in northwestern China's Xinjiang region, where Beijing has repressed Muslim ethnic groups. European pharmaceutical and medical imaging equipment companies have found themselves locked out of much of the state-run health system. An extensive annual survey of businesses released on Wednesday by the European Chamber of Commerce in China found that nearly three-quarters said it was getting harder to operate in China. It was the fourth consecutive year that the survey showed deepening corporate pessimism. The proportion of European companies that plan to expand their operations in China has also fallen to a record low, with just 38 percent saying that they intend to do so this year. European investment has been important in bringing Western technology to China and in bringing Chinese products to world markets. The chamber, which has been gauging challenges companies face in China for a quarter century, represents the interests of some 1,700 companies, from industrial giants like VW to small businesses with a handful of employees who are cogs in global supply chains. The chamber's survey also unearthed a somewhat contradictory trend that could prove troublesome for President Trump's attempt to shield American manufacturing from China's exports with tariffs. Even as European businesses curb their own investments in China, some are also buying ever more components from Chinese companies. That makes their supply chains even more dependent on China. China has retaliated against Mr. Trump's tariffs by imposing its own tariffs on American goods. That has prompted a hunt by European companies in China for Chinese replacements for the few components they were still buying from the United States, said Jens Eskelund, the chamber's president. A broad fall in prices in China has made Chinese components too good a deal for many European companies to pass up. A recent weakening of China's currency against the euro has made Chinese components even more attractive. 'The one place where they actually get better components at a lower price than anywhere else in the world is here in China,' Mr. Eskelund said. Not only the United States, but the European Union and other countries have imposed tariffs lately in response to China's soaring exports of manufactured goods and tepid demand for imports. European companies that export from China to other markets had long feared possible trade barriers, but some were still caught off guard. 'That fear has turned into a nightmare for many at the moment,' said Klaus Zenkel, a businessman in Shenzhen who is a member of the chamber's South China chapter. Some companies have set up temporary assembly operations in other countries to bypass American tariffs, Mr. Zenkel said. They rent warehouses in places like Taiwan, do the final assembly of Chinese components in the warehouses and then ship the finished goods to the United States with customs declarations that no longer show the goods as coming from China. The Trump administration is trying to reduce these indirect shipments from China. Mr. Trump has threatened high tariffs against countries that run large trade surpluses with the United States. One category of business conditions has improved very markedly in China in the past year, according to the European chamber's survey. The share of European companies worried about rising wages has fallen steeply over the last several years, and these now rank among the least of their concerns. Labor costs had been rising along with China's surging housing prices. But that bubble burst in 2021, causing declines in construction that eliminated many jobs. In turn, flat or even falling wages have contributed to weak demand in China for everything from imported cosmetics to hotel rooms — resulting in broadly low prices, a potentially dangerous phenomenon known as deflation. 'By a wide margin, it is China's economic slowdown that is seen as having the greatest impact,' Mr. Eskelund said.
