China News

China’s sanctions on Hanwha Ocean will drive up the firm’s costs in the medium term but may also end up boosting South Korean ties with the US over the long term as Washington seeks to expand naval shipbuilding capacity, analysts said. Last week, the Chinese commerce ministry announced it had imposed sanctions on five US-based affiliates of Hanwha Ocean, one of South Korea’s largest shipbuilding companies. The ministry alleged that Hanwha had supported Washington’s investigation into Chinese...

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