What China thinks about the escalating Iran-Israel conflict
The post What China thinks about the escalating Iran-Israel conflict appeared on BitcoinEthereumNews.com. A cargo ship cruises toward the Strait of Hormuz off the shores of Khasab in Oman on Jan. 15, 2011. Marwan Naamani | Afp | Getty Images BEIJING — The recent flare-up in Middle East tensions isn’t denting Chinese business optimism about opportunities in the region. Chinese shipments to Dubai’s logistics hub have risen by 20% this month from a year ago, as locals stock up on batteries and daily necessities, according to estimates from Bear Huo, China general manager at FundPark, a fintech startup that lends money to small Chinese businesses selling overseas via internet platforms. “Overall, Chinese merchants are relatively optimistic,” he said Monday in Mandarin, according to a CNBC translation. That’s partly due to the relatively recent rise of the Middle East as a fast-growing market, he added. Chinese companies have increasingly turned to the region in the last few years — whether to raise money from local investors or to tap a new market for electric cars — amid trade tensions with the United States. On the geopolitical front, Beijing helped Riyadh and Tehran restore diplomatic relations in 2023. Huo’s view is that the Iran-Israel tensions will end relatively soon, given that even the U.S. strikes have targeted specific strategic sites, and as fighting isn’t spread out along a border as in the drawn-out conflict between Russia and Ukraine. Nevertheless, risks remain elevated as the Dubai port is right across the Strait of Hormuz from Iran. Ships are moving more slowly and there are fewer flights, Huo said. He said he does not know where products from Chinese sellers go to after they arrive in Dubai, and added that the company doesn’t directly do business with Iran because of sanctions. China’s Ministry of Foreign Affairs said it “strongly condemns” the U.S. attacks on Iran over the…
The post What China thinks about the escalating Iran-Israel conflict appeared on BitcoinEthereumNews.com.
A cargo ship cruises toward the Strait of Hormuz off the shores of Khasab in Oman on Jan. 15, 2011. Marwan Naamani | Afp | Getty Images BEIJING — The recent flare-up in Middle East tensions isn’t denting Chinese business optimism about opportunities in the region. Chinese shipments to Dubai’s logistics hub have risen by 20% this month from a year ago, as locals stock up on batteries and daily necessities, according to estimates from Bear Huo, China general manager at FundPark, a fintech startup that lends money to small Chinese businesses selling overseas via internet platforms. “Overall, Chinese merchants are relatively optimistic,” he said Monday in Mandarin, according to a CNBC translation. That’s partly due to the relatively recent rise of the Middle East as a fast-growing market, he added. Chinese companies have increasingly turned to the region in the last few years — whether to raise money from local investors or to tap a new market for electric cars — amid trade tensions with the United States. On the geopolitical front, Beijing helped Riyadh and Tehran restore diplomatic relations in 2023. Huo’s view is that the Iran-Israel tensions will end relatively soon, given that even the U.S. strikes have targeted specific strategic sites, and as fighting isn’t spread out along a border as in the drawn-out conflict between Russia and Ukraine. Nevertheless, risks remain elevated as the Dubai port is right across the Strait of Hormuz from Iran. Ships are moving more slowly and there are fewer flights, Huo said. He said he does not know where products from Chinese sellers go to after they arrive in Dubai, and added that the company doesn’t directly do business with Iran because of sanctions. China’s Ministry of Foreign Affairs said it “strongly condemns” the U.S. attacks on Iran over the…
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