German companies profiting from rising tensions in the South China Sea:

According to the German Handelsblatt, German companies along with French and British arms exporters are providing engines and other defence equipment to both sides of the conflict in the South China Sea, including China, Singapore and Malaysia.

While arms sales to China are prohibited due to embargoes by both the EU and the US, the EU embargo does not cover ‘components’ and ‘dual use’ equipment.   ... →

Chinese corruption probe into Swiss lift firm , Schindler

On the 24th September two Chinese local managers, including the local managing director, of the Swiss company Schindler were taken in for questioning by the Chinese Authorities. The investigation of the lift and escalator manufacturer takes place as part of an anti-corruption campaign being undertaken by the Chinese President Xi Jinping. To date several government officials and foreign firms have been investigated, including the pharmaceutical giant GSK.[1]

The accusations relate to embezzlement and passive bribery (acceptance of bribes) and possibly bribery related to individuals.[2] While the exact allegations are still unclear the accusations could relate to investigations in the Chinese sales department.   ... →

GSK fined US$ 492 million for Bribery case in China.

GlaxoSmith Kline has been fined US$ 492 million in relation to their bribery scandal in China. The Beijing court also sentenced the GSK former country manager, Mark Reilly and others to prison for two to four years. This fine represents the largest penalty ever levied against a foreign company in China. The company could still face actions by the US and UK governments who have the power to punish companies corrupt business practices abroad.   ... →

China: Explosion at factory kills 75 people

At the beginning of August the ignition of metal dust led to an explosion at the metalworking company Zhongrong Metal Products Co in Kunshan, a city located close to Shanghai. 75 people were killed and another 180 were injured. According to the reports from local authorities safety regulations were not maintained and eventually triggered the explosion in the polishing station of the car parts supplier.   ... →

Press Release: Four years of cluster munitions: Use forbidden! investment allowed?

On the occasion of the 4th anniversary of the coming into force of the Convention on Cluster Munitions (August 1) the Cluster Munitions Coalition is continuing to ask the international community to join the prohibition movement, ratify the contract and implement it thoroughly.

There are currently 113 states that have signed the agreement, 29 are yet to ratify it.   ... →

Chinas ‘Going Global’ Strategy

Since its WTO accession in 2001, China’s foreign investments have increased, and with this its integration into the global economy, this trend is also called the ‘Going Global’ Strategy. Chinas total non-current assets is estimated at about $4.6 trillion. This makes China a powerful player in the financial world, ahead of the USA and Japan.

The chinese central bank, with a sum of $3.9 trillion is the worlds largest public investor.   ... →