Category: Chinese business

China’s Big Fund corruption probe casts shadow over chip industry

The sudden disappearance in July last year of Gao Songtao, the bespectacled former vice president of government fund manager Sino IC Capital, was a warning of a storm to come. Months later, the Chinese Communist Party’s internal watchdog confirmed that Gao had been investigated for corruption. Yet it was not President Xi Jinping’s public campaign […]

Facebook removes political influence operations from China and Russia

Onur Dog | Light flare | Getty Images Facebook parent company Meta said so deleted two unconnected account networks based in China and Russia seeking to influence political narratives in the United States and Europe. The platform regularly searches for and removes accounts that it believes have violated its policy against coordinated inauthentic behavior. Such […]

Xi Jinping seeks his third term as leader of the Communist Party of China, while Li Keqiang retires after a decade in his shadow

As Xi Jinping seeks his third term in power at the upcoming 20th Communist Party Congress, one man is counting down to retirement. Li Keqiang, prime minister of the Chinese government and the country’s second most powerful man, is expected to quit politics after 10 years of ruling China with Xi. While Li, 67, will […]

As Russia waves nuclear specter in Ukraine, China looks the other way

There was no more bragging of their “no limits” friendship declared on the opening day of the Winter Olympics. Instead, Putin conceded Beijing had ‘questions and concerns’ about its faltering invasion, in a subtle nod to the limits of China’s support and the growing asymmetry of their relationship. In the Chinese reading of the meeting, […]

Chinese, Portuguese foreign ministers meet on sidelines of UNGA session

Chinese State Councilor and Foreign Minister Wang Yi on Wednesday met with his Portuguese counterpart, Joao Gomes Cravinho, on the sidelines of the ongoing 77th session of the United Nations General Assembly.Noting that the Chinese people hold friendly feelings towards the Portuguese people, Wang said China-Portugal relations have withstood the test of changes in the […]

Nvidia CEO sees ‘big space’ for China sales despite US restrictions

Nvidia Corp CEO Jensen Huang holds one of the company’s new RTX 4090 chips for computer games in this undated photo provided September 20, 2022. Courtesy Nvidia Corp/Handout via REUTERS Join now for FREE unlimited access to Reuters.com Register Sept 21 (Reuters) – Nvidia Corp’s (NVDA.O) chief executive Jensen Huang said on Wednesday he continued […]

PM forms body on Chinese IPPs and other issues

ISLAMABAD: Prime Minister Shehbaz Sharif has set up a standing committee on payments to Chinese independent power producers (IPPs), as well as other issues related to different ministries, informed sources said company registrar. The debt stock of Chinese IPPs exceeds 300 billion rupees, which prevents them from importing coal and meeting other payment obligations. On […]

Hong Kong leader ‘explores’ easing controversial COVID restrictions | Economy

John Lee said changes to the controversial hotel quarantine program should not cause “chaos or confusion”. Hong Kong is “actively exploring” changes to tough COVID-19 restrictions that have devastated the economy and driven talent out of the financial hub, with authorities hoping to make an announcement soon, the city leader said. Hong Kong Chief Executive […]

Business class flights, 5-star hotels, limos and meeting the Chinese navy

Top executives at the University of Sydney spent $210,422.21 at the University on airfare and accommodation in 2017, with business class flights accounting for the vast majority of this sum. The USyd executive – including Chancellor Belinda Hutchinson, then Vice-Chancellor Michael Spence, Deputy Vice-Chancellors, Pro-Vice-Chancellors and Vice-Principals – spent $171,204.96 alone. in plane tickets in […]

UBS is hiring ‘content reviewers’ to check its Chinese publications, reports the Financial Times

The logo of Swiss bank UBS is seen at a branch in Zurich, Switzerland, January 27, 2017. REUTERS/Arnd Wiegmann Join now for FREE unlimited access to Reuters.com Register Sep 18 (Reuters) – Swiss bank UBS is hiring a team of “content reviewers” to ensure its analysts’ Chinese research publications are free of “sensitivity”, the Financial […]

Does China re-export Russian gas to Europe? | Business | Economic and financial news from a German perspective | DW

As China and Russia meet to discuss broader issues, reports indicate that Russian gas exports are heading to Europe – via China. “The global liquefied natural gas (LNG) market is increasingly well integrated, and changes in regional demand can help balance otherwise tight markets. This redirection of flows serves the interests of all parties involved,” […]

From Block to Blue Ticks: How China Became Big Business for Twitter

A Reuters review of publicly available government tenders, budget documents and promoted tweets from 2020 to 2022 shows that local authorities and Communist Party of China propaganda offices for cities, provinces and even counties in the countries flocked to Twitter to buy ads. The promotions, often contracted out by local governments to state media, showcased […]

SFIO arrests ‘mastermind’ behind network of Chinese front companies

The Serious Fraud Investigation Office (SFIO) has arrested a person who, according to the Ministry of Corporate Affairs (MCA), became the mastermind of the racketeering of incorporating a large number of shell companies with links to China in India. The September 10 arrest comes after Finance Minister Nirmala Sitharaman ordered the MCA to identify […]

ViewRay Announces Chinese NMPA Approval of Its MRIdian® MRI-Guided Radiation Therapy for Cancer Patients

Approval Expands MRIdian’s Global Reach and Offers Cancer Patients a New Radiation Therapy Option: MRIdian SMART DENVER, September 7, 2022 /PRNewswire/ — ViewRay, Inc. (NASDAQ: VRAY) today announced that the company’s MRIdian MRI-guided radiation therapy system has received approval from China’s National Medical Products Administration (NMPA) regulatory authority, allowing it to be sold and used […]

China’s top banks face squeezed margins amid calls to help economy grow

People visit the booth of Industrial and Commercial Bank of China (ICBC) at the 2021 China International Trade in Services Fair (CIFTIS) in Beijing, China September 3, 2021. REUTERS/Florence Lo/File Photo/File Photo Join now for FREE unlimited access to Reuters.com Register BEIJING, Sept 6 (Reuters) – Leading Chinese banks gearing up to heed Beijing’s call […]

Beijing concerned about US pressure on Chinese companies using state power

China is concerned about the U.S. practice of using government power to pressure Chinese companies, which goes against the principles of market economy and international trade and economic rules, China said on Monday. Chinese Foreign Ministry spokesman Mao Ning. MOSCOW (UrduPoint News / Sputnik – September 05, 2022) China is concerned about the US practice […]

Chinese tobacco giant’s rapid global expansion plans and operations are alarm bells ringing

China National Tobacco Corporation (CNTC), one of the world’s largest tobacco companies with a global market share of 44%, is expanding globally at an alarming rate. On all continents, the Chinese tobacco industry has been reported to use both legal and illegal methods of operation. China resolutely encourages its state-owned enterprises to invest overseas and […]

Exclusive: US regulators scrutinize Alibaba, JD.com and audits of other Chinese companies – sources

Join now for FREE unlimited access to Reuters.com Register Alibaba, JD.com, Yum China notified of US audit inspection -sources Verification of audits of Chinese companies listed in the United States begins next month Follows landmark US-China audit agreement U.S.-listed Alibaba shares closed nearly 3% on Tuesday HONG KONG, Aug 31 (Reuters) – U.S. regulators have […]

Bad debt managers in China see their profits slump on worsening property losses

China Huarong Asset Management Co. and China Cinda Asset Management Co., the country’s two largest state-owned distressed debt funds, reported falling first-half profits as credit writedowns surged following a worsening real estate crisis. Net profit for Cinda’s first six months fell 33% to 4.51 billion yuan ($652 million), after impairments […]

Taiwanese opposition politician raises concerns about war games to China

A globe is seen in front of the Chinese and Taiwanese flags in this illustration, August 6, 2022. REUTERS/Dado Ruvic/Illustration Join now for FREE unlimited access to Reuters.com Register TAIPEI, Aug 25 (Reuters) – A senior official of Taiwan’s main opposition party, the Kuomintang (KMT), has told a senior Chinese official of the Taiwanese people’s […]

EXCLUSIVE Allianz in talks with banks for asset management business in China – sources

The Allianz logo is seen on a building in Paris, France, April 30, 2020. REUTERS/Charles Platiau Join now for FREE unlimited access to Reuters.com Register HONG KONG, Aug 23 (Reuters) – Allianz SE (ALVG.DE) is in talks with Chinese banks to set up a majority-owned asset management business in the world’s second-largest economy, two people […]

Putin accidentally revived the League of Democracies. Here’s what that means for businesses.

At the heart of Senator John McCain’s 2008 presidential campaign was the concept of a League of Democracies: “the only organization where the democracies of the world would come together to discuss problems and solutions on the basis of shared principles and a common vision of the future”. The idea faced headwinds. Former Clinton staffers […]

Taiwan hosts visit by Japanese politicians amid tensions with China

Amid heightened tensions with China after U.S. House Speaker Nancy Pelosi’s visit to the self-governing island, Taiwan’s foreign ministry hailed the upcoming visit of Japanese politicians. The Ministry of Foreign Affairs (MOFA) on Friday welcomed Furuya Keiji, chairman of the Japan-ROC Diet Members Advisory Council, and the council’s chief secretary, Kihara […]

Indian students wishing to return to China are advised to follow Embassy updates

Indian students waiting to join their colleges in China have been advised to follow updates issued by the Chinese Embassy. Regarding resuming studies in China, Indian students should follow embassy updates for more details, Chinese Ambassador to India Sun Weidong told ANI. Weidong had recently assured that the first batch of Indian students, stranded […]

Indian, Chinese troops to visit Russia for joint military exercises

Indian and Chinese troops will travel to Russia to participate in joint military exercises led by the host and including Belarus, Mongolia, Tajikistan and other countries. China’s participation in the joint drills was “unrelated to the current international and regional situation”, the ministry said in a statement. Last month, Moscow announced plans […]

Dollar company against Aussie, euro and Chinese yuan amid heightened recession concerns

By Kevin Buckland SINGAPORE/TOKYO/HONG KONG (Reuters) – The safe haven U.S. dollar brushed a week-long high on Tuesday as the Aussie, euro and Chinese yuan remained under pressure as weak economic data global markets rekindling fears of recession. The dollar index, which measures the greenback against six major peers, was flat at 106.51, just […]

Chinese domestic tourism on track to rebound from pandemic: Fitch Ratings

China’s domestic tourism — a key indicator of retail spending — is poised to return after hitting an all-time low during the country’s worst lockdowns, official data and analysts show. Since the mainland’s biggest lockdown in Shanghai ended in late May, rising holiday bookings have signaled tourism spending will pick up in the second half, […]

Chinese army ‘completes tasks’ around Taiwan, plans regular patrols

Taiwan says it will ‘adjust its force allocation’ China conducts war games around Taiwan Beijing angry at US House speaker’s visit to Taiwan BEIJING/TAIPEI, Aug 10 (Reuters) – China’s military has “completed various tasks” around Taiwan but will carry out regular patrols, it said on Wednesday, potentially signaling an end to the days of war […]

Taiwan security officials want Foxconn to drop stake in Chinese chipmaker

Taiwanese national security officials want to force Apple supplier Foxconn to unwind an $800 million investment in Chinese chip company Tsinghua Unigroup, as Taipei seeks to align itself more closely with the United States in the face of the escalating threats from Beijing. The investment from Foxconn, the world’s largest contract electronics maker and China’s […]

US accuses Chinese firm of helping ZTE cover up business with Iran – Commerce Department

A sign of ZTE is seen at the 2020 China International Trade in Services Exhibition (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu Wang Join now for FREE unlimited access to Reuters.com Register WASHINGTON, Aug 9 (Reuters) – The United States on Tuesday accused Far East Cable, China’s largest wire and cable maker, of violating […]

Biden says he’s ‘not worried’ about China’s increased aggression against Taiwan after Pelosi’s visit

US President Joe Biden talks to reporters as he boards Air Force One on a trip to eastern Kentucky to visit families affected by the devastation of recent flooding, as ‘He departs Delaware Air National Guard Base in New Castle, Delaware, USA on August 8, 2022. Kevin Lamarque | Reuters WASHINGTON — President Joe Biden […]

China’s Export Sector Posts Higher Than Expected July Numbers | China

China’s export industries performed well last month after spending the first half of the year hampered by raw material shortages and pandemic-related closures at major ports. Providing an encouraging boost to the economy, outbound shipments rose 18% in July from a year earlier, the fastest pace this year, official Customs data showed on Sunday, beating […]

China’s war games inspire Taiwanese companies to rally in defense of the island

The Chinese military has sent planes and warships to probe Taiwan’s defenses for a second day, deepening a crisis that has prompted one of the island’s wealthiest men to donate millions of dollars for his security. Taiwan’s Defense Ministry said on Friday that several groups of Chinese aircraft and warships operated in the Taiwan Straits […]

New PDP bill to address cross-border data flows, tax evasion and cryptos: Industry

NEW DELHI: Industry stakeholders said on Thursday that the new framework of the personal data protection bill should emphasize cross-border data flow and data localization requirements, introducing into its scope of ransomware, blockchain-based crypto/NFT scams, and even massive tax evasion by Chinese tech companies. . IT industry umbrella body Nasscom said data is the bedrock […]

US needs full access to Chinese companies’ audit documents to resolve accounting dispute

The logo of the U.S. Securities and Exchange Commission adorns an office door at SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst Join now for FREE unlimited access to Reuters.com Register WASHINGTON, Aug 1 (Reuters) – The U.S. public company accounting regulator will not accept any restrictions on its access to audit documents of […]

L’Oréal reverses the trend with Chinese sales growth in the second quarter

Staff members work at the counter of cosmetics brand L’Oreal at a shopping mall in Beijing, China November 18, 2021. REUTERS/Tingshu Wang Join now for FREE unlimited access to Reuters.com Register PARIS, July 28 (Reuters) – Cosmetics group L’Oreal (OREP.PA) bucked a downward trend in China’s luxury and fashion industry with sales rising in the […]

July 26 live updates: Microsoft and Alphabet report growth slowdowns, Körner set to replace Gottstein as Credit Suisse head

© Reuters U.S. defense contractor Raytheon reported an increase in revenue in the second quarter, boosted by the recovery of its commercial airline customers, but sales at its missile division were hit by supply chain issues. “A strong start to the summer travel season resulted in continued revenue growth” that “exceeded our expectations,” said chief […]

Alibaba scales back global expansion plan to compete with Amazon

Alibaba’s push to rival Amazon by attracting American companies to its e-commerce platform has struggled to achieve its goals, dealing a blow to the Chinese tech giant’s global expansion plans. The group launched Alibaba.com, its business-to-business e-commerce website, in the United States three years ago with the aim of recruiting more than a million local […]

China strengthens warning to US over Pelosi’s planned trip to Taiwan

China has issued stern private warnings to the Biden administration over the upcoming trip to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi, setting off alarm bells among White House officials who are worried. oppose his visit. Six people familiar with the Chinese warnings said they were significantly stronger than threats Beijing has made […]

Chinese envoy interacts with Bauchi government, business community

Chinese Ambassador to Nigeria Mr. Cui Jianchun on Friday held talks with the Bauchi State government and the business community, including local and national investors, for bilateral assistance from the Republic of China to Bauchi State. Speaking during the bilateral talks held at Banquet Hall, Government House, Bauchi, Mr. Jianchun said the Chinese government stands […]

Chinese online lender Qudian has big plans for a new convenience food business

(Yicai Global) Jul 20 — Qudian dips into ready-meal business with gusto after string of failed ventures in everything from cars to edtech as China’s internet financial platform seeks other sources revenue amid a regulatory crackdown on online lending. Qudian will open 200,000 ready-to-eat meal franchises and offer one-year interest-free loans to those who don’t […]

Chinese Restaurant: The Benefits of a Small Business Administration Loan for Your Business Acording to PaydayNow

As a Chinese restaurant owner, you’ve probably looked into loans and come across the word “SBA.” SBA stands for Small Business Administration, and it is a loan that you should investigate. Even though it’s referred to as a “loan,” it’s not one in the usual sense. An SBA is essentially a bank or alternative lender’s […]

Chinese ambassador commends Saudi companies for helping Chinese companies’ expansion plans

RIYADH: The United States and Saudi Arabia have an established security relationship, with over SR375 billion ($100 billion) in active foreign military sales that President Joe Biden can draw on during his his visit to the Kingdom. According to the website of the US embassy and consulates in Saudi Arabia, the two countries have developed […]

India raids China’s second-largest mobile phone company this month

NEW DELHI — Indian investigators have raided an Indian subsidiary of Chinese smartphone maker Oppo, accusing it of evading customs duties totaling 43.9 billion rupees ($551 million), the government said on Wednesday. The Directorate of Law Enforcement, India’s financial crime investigation agency, said it had sent a notice to the company asking for the money […]

Diplomat appointed to US Treasury aims to limit China’s influence on loans

The United States flag flies atop the U.S. Treasury Department in Washington November 18, 2008. REUTERS/Jim Bourg/File Photo Join now for FREE unlimited access to Reuters.com Register WASHINGTON, July 12 (Reuters) – The U.S. Treasury’s top economic diplomacy candidate said on Tuesday he wanted to limit China’s growing influence over global lending by working with […]

Wind and solar output surges as AI fights wildfires and Tesla eyes Chinese rivals

This week Current climatewhich every Saturday brings you the latest in sustainability business. Sign up to receive it in your inbox every week. Los Angeles Times via Getty Images Llast week, BP has released its annual World Energy Statistical Review, which provides a comprehensive overview of the global energy industry. One of the most interesting […]

FBI director calls China ‘biggest’ US threat; Authorities warn of North Korean cyberattacks

Speaking alongside his British counterpart in London on Wednesday, FBI Director Christopher Wray called China “the greatest long-term threat” to the United States and the United Kingdom. “The Chinese government is determined to steal your technology – whatever makes your industry work – and use it to undermine your business and dominate your market,” Wray […]

BuckyDrop – The Best Alternative Chinese Sourcing Solution to Oberlo to Help Overseas Sellers Go from Dropshippers to Brand Owners

Shenzhen, China–(BUSINESS WIRE)–June, the golden month for e-commerce business in China, with more than 9 years of experience in one-stop Chinese sourcing solution for global e-commerce, BuckyDrop team has been very busy since May, helping sellers find, buy, package and ship products around the world. In May alone, BuckyDrop helped sellers ship 220% more packages […]

Live updates: Democrats outraged as Republicans applaud Supreme Court decision

Prime Minister Boris Johnson’s authority is “running out”, a former Tory MP has said, following the ruling party’s loss of two by-elections. “[Johnson’s] authority is very significantly reduced,” Gavin Barwell told Sky News on Friday. “The Conservative Party looked to Boris Johnson, because they saw him as an election winner, there is not…a deep love […]

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