Chinese enterprises unite to deal with trade wars

Chinese enterprises unite to deal with trade wars

In order to welcome guests from Germany, the German flag was hung in front of the factory gate. When talking about the trade war with the United States, Song Wei, the secretary of the board of Yantai Zhenghai Magnetic Materials Co., Ltd., allowed the reporter to shoot the whole process.

Yantai is located in the coastal area of Shandong Province, China, with pleasant scenery. With 7 million inhabitants, last year’s per capita disposable income was about 4,500 euros (about 35,200 yuan), an increase of 8% over 2017.

The influential Qiushi magazine has just published an article saying that no one, no force, underestimates and ignores the steel will of the Chinese people and the strong tenacity of a protracted war.

According to the report, in a spotless aseptic hall in Yantai, black small square magnets continually slide out of the machine. There are almost no people in the hall. Zhenghai’s rare earth permanent magnet products can drive Tesla’s motors and are also used in Audi RS6, Siemens wind turbines, airplanes, high-speed trains, air conditioners, elevators, and connected machinery in the German industry 4.0 era.

Of course, there is Apple’s smartphone. Rare earth permanent magnet materials exist in the camera, speaker and vibration motor of Apple mobile phones. One-third of the rare earth permanent magnet products of Zhenghai Magnetic Materials are exported abroad, and the export volume increases by about 45% annually.

Zhenghai Magnetic Materials is a leading company in China’s rare earth processing industry. The company has 1,300 employees and the annual output of magnetic materials is about 6,300 tons. If the new plant goes into production next year, production will almost double.

According to the report, China’s rare earth did not appear in Trump’s tariff list. Of course, it won’t happen because American industry relies on these rare metals from China.

When German Economy and Energy Minister Peter Altmeyer arrived in Beijing last week to start a visit to China, he felt a country that had renewed courage from the initial shock of the most violent attack on the United States to date.

The report also said that in an industrial area in Shenzhen, the victim of the trade war, Ethan Liu, showed his e-cigarette in a pleasant mood. In the past two weeks, the price of such electronic cigarettes in the United States has increased from $10 to $13.

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