Factbox-From raids to exit bans, US companies face growing hurdles in China

WASHINGTON - Commerce Secretary Gina Raimondo said on Tuesday that U.S. companies have complained to her that China has become"uninvestible," pointing to fines, raids and other actions that have made it risky to do business in the world's second-largest economy.Raids and fines:

The Beijing Municipal Bureau of Statistics later confiscated 5.34 million yuan of Mintz's"illegal proceeds" and imposed an administrative penalty of an equivalent amount, resulting in a total fine of about $1.5 million. Last year, DuPont De Nemours Inc scrapped its $5.2 billion deal to buy electronics materials maker Rogers Corp after delays in securing approval from Chinese regulators.Chinese lawmakers passed a wide-ranging update to Beijing's anti-espionage legislation in April, banning the transfer of any information related to national security and broadening the definition of spying.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Factbox-How China is trying to boost its stock market(Reuters) - China is launching a campaign to revive a lagging stock market, and boost investor confidence in an ailing economy. A slew of measures ...
Source: SaltWire Network - 🏆 45. / 63 Read more »

FACTBOX-Stocks to watch as Idalia makes landfall in FloridaNEW YORK (Reuters) - Florida is bracing for Tropical Storm Idalia as it intensifies into a major hurricane on Monday before making landfall on the ...
Source: SaltWire Network - 🏆 45. / 63 Read more »