A judge in New York has ruled that Alibaba must face a lawsuit by a U.S. toymaker alleging that the Chinese ecommerce giant’s online platforms were used to sell counterfeit Squishmallows. Judge Jesse Furman of the Southern District Court of New York refused Alibaba’s request to dismiss the case filed by Kelly Toys Holdings, which […]
US moves to investigate American companies’ procurement of Chinese-made legacy node chips has triggered a backlash from the Chinese government, which blamed Washington for “weaponising” trade issues. China’s foreign ministry spokesman Wang Wenbing said on Friday that the US move would endanger global supply chains, urging Washington to respect international trade rules and market-based principles. […]
XIAN (Reuters) – Chinese electric car maker Nio on Saturday unveiled a flagship model featuring self-developed technologies including semiconductors, betting they would help prop up earnings, as a bruising price war and slowing car demand weigh on profitability. The ET9 executive sedan, positioned in the same class as Mercedes Benz’s Maybach and Porsche’s Panamera series, […]
China’s imports of critical chip-making lithography systems from the Netherlands surged 1,050 per cent by value in November, in a sign that domestic semiconductor firms are not yet cut off from receiving orders on certain advanced equipment in the wake of tightened US export rules. China imported 16 of the Dutch projection systems valued at […]
(Bloomberg) — China’s raft of new measures limiting players’ spending on video games sent ripples through stock markets across the globe on Friday. Most Read from Bloomberg Prosus NV fell as much as 20% in Amsterdam trading, erasing €14 billion ($15 billion) of market value, after the regulator’s draft rules dealt a blow to the […]
Big Purchase Between October and mid-December 2023, China purchased a massive amount of wheat, totaling 60 million bushels. This included a record-breaking weekly total of 55 million bushels. This unexpected development occurred when U.S. wheat prices had recently hit multi-year lows. Despite initial indications of a record-low year for U.S. wheat exports in 2023/24, China’s […]
At least 127 people were killed and 700 others were injured in what has become China’s deadliest earthquake in nine years. The 6.2 magnitude earthquake struck the Gansu and Qinghai provinces in northwestern China. After the quake, residents were forced out of their homes to spend the night in freezing temperatures amid a series of […]
China’s reusable space plane just got a little more mysterious. Just four days after being launched on its third mission, China’s Shenlong (“Divine Dragon”) robotic space plane seems to have placed six objects into Earth orbit. Amateur spacecraft trackers around the world have been following the objects closely for days and have recorded emissions coming […]
Updated Dec. 18, 2023 12:15 am ET China’s economic slowdown has become a big problem for banks that serve the rich. For years, banks including Citigroup, JPMorgan and UBS competed hard to win business from China’s giant pool of wealthy people. They hired thousands of relationship managers with the language skills and cultural know-how to […]
(Bloomberg) — Stock investments: down 30%. Salary package: down 30%. Investment property: down 20%. As Thomas Zhou reflects on 2023, his household finances are front of mind. Most Read from Bloomberg “It’s just heart-breaking,” the 40-year-old financial worker from Shanghai said. “The only thing that still keeps me going is the thought of keeping my […]
(Bloomberg) — The crippling tariffs that China’s government imposed on Australian wine exports almost three years ago could be lifted shortly, Australia’s trade minister Don Farrell said on Sunday. Most Read from Bloomberg China started reviewing the sanctions in late November and that process was “well and truly underway,” Farrell said in an interview with […]
(Reuters) -More Chinese agencies and state-backed companies across the country have asked their staff to not bring Apple iPhones and other foreign devices to work, Bloomberg News reported on Friday, citing people familiar with the matter. For over a decade, China has been seeking to reduce reliance on foreign technologies, asking state-affiliated firms such as […]