At the recent UN General Assembly, China's President Xi Jinping announced to the media that he would no longer pursue new coal projects abroad. Nora Sausmikat from the environmental rights organization urgewald e.V. takes stock of the World Climate Conference in Glasgow. China is still one of the biggest expansionists in coal-fired power plants worldwide. Even the switch to gas and liquefied petroleum gas are only "sham solutions" that jeopardize even the Paris Climate Agreement. Moreover, without a total phase-out at home, the withdrawal from coal abroad will hardly work.
By Ning Wang
Thanks in part to its now 20-year commitment in China, Webasto has become one of the largest automotive suppliers in the world. The company is known to many because it was the site of the first COVID case in Germany. The shock of that time has been overcome, but CEO Holger Engelmann is worried about the future. In an interview with China.Table, he fears an economic long COVID with unforeseeable consequences. He is particularly concerned about supply issues, a shortage of skilled workers, and further disruptions to the global economy. He considers the establishment of a separate supply chain exclusively for the Chinese market likely in the future. Marcel Grzanna conducted the interview.
By Marcel Grzanna
China's "Personal Information Protection Law" comes into force. It is intended to protect consumers' rights vis-à-vis companies. Large companies such as Tencent have already revised their data protection regulations. The law also has an impact on foreign companies. It is similar to the European data protection law in terms of the relationship between companies and customers. However, the state still exempts itself from the obligations in China.
By Frank Sieren
A big step for the opening of China's financial markets: Shenzhen has become the first Chinese city to issue a bond to international investors. Until now, borrowing by Chinese municipalities has been an internal affair. Foreign participation could bring a new professionalism to local government financing. But it also ties the global financial market more closely to China – for better or worse.
By Frank Sieren