City Beijing Financial News

29.03 / 08:29

markets UPS Apple wellness Xiaomi country Huawei's profit doubled in 2023 as smartphone, autos business picked up

BEIJING — Chinese telecommunications company Huawei said Friday its net profit for 2023 more than doubled thanks to better product offerings.

29.03 / 02:49

UPS security show Department Schools US may soon unveil list of Chinese chip factories barred from receiving tech

United States is drawing up a list of advanced Chinese chipmaking factories barred from receiving key tools, three people familiar with matter said on Thursday, to make it easier for companies to stem technology flows into China. The list could be released in the next couple of months, one of the people said.

28.03 / 21:57

UPS Cooper economy country Features Top Chinese official says green, high tech development key as nation seeks to spur economy

A top Communist Party official says China is committed to introducing reforms that will upgrade the technological level of its largely manufacturing-based economy

28.03 / 16:03

markets UPS CEO Tesla War Xiaomi show Xiaomi releases electric car $4K cheaper than Tesla's Model 3 as price wars heat up

BEIJING — Chinese smartphone company Xiaomi said Thursday it will sell its first car for far less than Tesla's Model 3, as price wars heat up in China's fiercely competitive electric car market.

28.03 / 15:41

markets UPS FIVE Xiaomi electronic reports Investigations China's latest EV is a 'connected' car from smart phone and electronics maker Xiaomi

Xiaomi, a maker of smart consumer electronics in China, is joining the country’s booming but crowded market for electric cars with a sporty high-tech sedan

28.03 / 07:39

MET Manufacturing economy Trade country Chinese leader Xi issues a positive message at a meeting with US business leaders as ties improve

Chinese leader Xi Jinping has called for closer trade ties with the U.S. during a meeting with top American business leaders in Beijing

28.03 / 06:53

Reuters security Research Bill information Department Schools China's pharma firm WuXi AppTec shared US client's data with Beijing

WuXi AppTec had transferred US intellectual property to Beijing without consent, according to two sources. The US government is concerned that certain Chinese biotech companies are contributing technology or research and development for use by China's military, and the proposed legislation would restrict US government funds going to those Chinese companies.

28.03 / 01:55

UPS security country 2020 reports Relationships ‘We can never compromise on securing our border..,’ says EAM Jaishankar on India-China relations

China hinges on the conventional deployment of troops, which will serve as a necessary condition for shaping the future relationship with Beijing. “My first duty to Indians is to secure the border. I can never compromise on that," Jaishankar said while responding to a question on the current state of India's relations with China during his interaction with the Indian diaspora here in the Malaysian capital, as reported by PTI.

27.03 / 22:13

Target Booking Manufacturing economy show track reports China's economy is on track for 'strong' March performance, survey says

BEIJING — China's economy is ending the first quarter on a «strong» note, according to a business survey published by the China Beige Book on Thursday.

27.03 / 20:09

COST Trade country 2020 rights Investigations Relationships China wins WTO dispute with Australia over steel products

China has won a nearly three-year-long dispute with Australia at the World Trade Organization over tariffs on steel products that began during a low point of bilateral relations between the countries

27.03 / 18:27

UPS security Trade War country reports dutch Chinese leader Xi tells Dutch PM that restricting technology access won't stop China's advance

Chinese leader Xi Jinping has told visiting Dutch Prime Minister Mark Rutte that attempts to restrict China’s access to technology will not stop the country’s advance

27.03 / 18:27

Platform security ByteDance TikTok Trade social Investigations TikTok is under investigation by the FTC over data practices and could face a lawsuit

A person familiar with the matter says the Federal Trade Commission is investigating TikTok over its data and security practices

27.03 / 18:27

markets Provident Manufacturing Remark wellness Trade International Yellen says China's rapid buildout of its green energy industry 'distorts global prices'

Treasury Secretary Janet Yellen is calling out China’s excess production in green energy, calling it unfair competition that “distorts global prices” and hurts companies and workers around the world

27.03 / 12:31

markets CEO President country reports International China's Xi meets U.S. executives as businesses navigate bilateral tensions

BEIJING — U.S. business leaders met with Chinese President Xi Jinping on Wednesday, the latest of Beijing's efforts to bolster foreign investment in China amid tensions with the U.S.

27.03 / 02:43

COST UPS Research wellness Trade country reports India needs EV success even if it increases exposure to Chinese value chains

India’s policy focus on making the country a hub for EV-making will have a side effect. As electric vehicles (EVs) roll off assembly lines, our dependence on Chinese imports will rise, even though we’ve been trying to reduce it. That’s because China, with a head-start of a decade or so, is the global leader of clean-tech in general and this segment of the auto industry in particular.

27.03 / 02:09

markets IPO Enterprise ByteDance performer orienteering Alibaba calls off $1 billion IPO for Cainiao amid market slump

initial public offering for its Cainiao logistics arm, shelving a much-anticipated debut that could have raised more than $1 billion. China’s e-commerce pioneer decided to postpone the transaction because of poor market conditions, people familiar with the matter said. It lost its taste for the deal this year as stocks waned, the people said, asking to remain anonymous discussing a private matter.

26.03 / 18:37

markets UPS Citi Manufacturing economy Enterprise India is getting billionaire-raising

Mumbai has displaced Beijing as Asia's city with the largest number of billionaires, according to Hurun Global Rich List 2024. This ticker-tape news comes as Indian stock markets powered ahead on a robust post-Covid recovery, while China is struggling to raise economic growth. The reordering is unlikely to be permanent, because India's market capitalisation-to-GDP ratio is in overvalued territory, while it is undervalued in China.

26.03 / 15:53

BLOCK Trade President country Courts Investigations China to challenge Biden's electric vehicle plans at the WTO

China says it has filed a complaint at the World Trade Organization over U.S. subsidies for electric vehicles

26.03 / 09:33

markets Manufacturing Boeing stage reports International China's COMAC wide-body C929 jet in 'detailed design stage', official says

SEOUL/BEIJING (Reuters) — Chinese state-owned planemaker COMAC's first wide-body jet is in its «detailed design stage», an executive said on Tuesday, following a report from the jet's fuselage manufacturer aiming to deliver the first fuselage section by September 2027.

26.03 / 06:47

Target Action security Remark Actor Justice Department Cyber US, UK accuse China of cyber attacks on 'democratic institutions'. What we know so far

US imposed sanctions on Zhao, Ni, and the Wuhan Xiaoruizhi Science and Technology Company Limited (Wuhan XRZ) for their roles in malicious cyber operations that jeopardised national security. These measures, taken under Executive Order 13694, aim to curb the abuse of computer networks by hostile actors. Remarkably, the Department of Justice announced a $10 million reward for information leading to the identification and location of individuals and entities involved in APT31's illicit activities.

26.03 / 05:37

UPS Target President Chubb information reports China's Xi Jinping to meet with American executives on Wednesday, sources say

BEIJING (Reuters) — China's President Xi Jinping will meet with American business leaders in Beijing on Wednesday, according to three sources with knowledge of the matter, in a follow up to his November dinner with U.S. investors in San Francisco.

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