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Tag: china

China is bracing for a massive new wave of COVID cases. What it means for the rest of the world

China is bracing for a massive new wave of COVID cases. What it means for the rest of the world

by AoCEgWtx4o
May 24, 2023
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Cases of Omicron variant XBB are mounting in China, forming a new wave expected to crest around 65 million cases a week by the end of June. Infections will likely reach 40 million per week by the end of the month, senior health adviser Zhong Nashan told attendees at a biotech conference in Guangzhou, according to Bloomberg. The wave could swell to become the country’s second largest, experts tell Fortune. It will undoubtedly pale in comparison to the country’s first major wave late last year, during which an estimated 37 million people were infected...

China data misses expectations as economy shows uneven recovery

China data misses expectations as economy shows uneven recovery

by AoCEgWtx4o
May 16, 2023
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YANGZHOU, CHINA - MAY 02: Aerial view of tourists visiting the Dongguan street during the May Day holiday on May 2, 2023.Vcg | Visual China Group | Getty ImagesChina's economic data for April broadly missed expectations as the economy continued to show an uneven path of recovery from the impact of its stringent Covid restrictions.Industrial production for April rose by 5.6% year-on-year, compared to the 10.9% expected by economists surveyed in a Reuters poll. The figure was up 3.9% in March following a muted start to the year.Retail sales rose by 18.4% – lower...

China Orders Tesla to Recall 1.1 Million Vehicles Over Braking Risks

China Orders Tesla to Recall 1.1 Million Vehicles Over Braking Risks

by AoCEgWtx4o
May 12, 2023
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China has ordered Tesla, the world’s dominant maker of electric vehicles, to recall 1.1 million vehicles, citing an issue with the acceleration and braking systems of certain models manufactured in China and abroad.China’s market regulator announced the decision after carrying out an investigation into a reported defect, according to a statement issued on Friday. The recalled vehicles include some imported Model S, Model X, Model 3 cars, as well as Chinese-made Model 3 and Model Y vehicles that were manufactured between Jan. 12, 2019 and April 24, 2023.The issue involves the vehicles’ regenerative braking...

LinkedIn shuts service in China, lays off employees

LinkedIn shuts service in China, lays off employees

by AoCEgWtx4o
May 9, 2023
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LinkedIn is suspending its job application service in China, the last remaining vestige of what was once one of the few successful foreign digital platforms in the country. On Monday, the Microsoft-owned social media company announced that it would be suspending its InCareer job application service starting Aug. 9. “InCareer faced fierce competition and a challenging macroeconomic climate, which ultimately led us to the decision of discontinuing the service,” the company wrote on Monday.  The company separately announced in a letter from LinkedIn CEO Ryan Roslansky that it would be laying off 716 employees....

Apple years away from diversifying from China despite India expansion

Apple years away from diversifying from China despite India expansion

by AoCEgWtx4o
April 20, 2023
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Apple's first physical retail store is located in the populous city of Mumbai.Punit Paranjpe | Afp | Getty ImagesFor years, Tim Cook has been bullish on India. Now, he's betting big on the South Asian giant as Apple shifts its focus away from China and expands its footprint in India.Still, analysts told CNBC the iPhone-maker's dependency on China will remain for years to come. There's potential for India to "become the next China" for Apple production, but it could take as long as a decade before it happens, said Martin Yang, senior analyst of emerging...

EU calls for independent policies on China after Macron’s disputed Taiwan comments

EU calls for independent policies on China after Macron’s disputed Taiwan comments

by AoCEgWtx4o
April 18, 2023
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Chinese President Xi Jinping met with European Commission President Ursula von der Leyen in early April.Xinhua News Agency | Xinhua News Agency | Getty ImagesEuropean Union officials on Tuesday called for a new and joint approach toward China, following French President Emmanuel Macron's controversial comments on Taiwan earlier this month. However, this new strategy is unlikely to please the United States.The Biden administration has so far adopted a particularly critical tone toward Beijing and put forward measures to restrict China's influence, including export restrictions on certain technologies. It has pushed European nations to do...

Lawmakers look to future of China competition in tech, media meetings

Lawmakers look to future of China competition in tech, media meetings

by AoCEgWtx4o
April 8, 2023
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High-profile tech and media executives shared their experiences of working in and competing with China with lawmakers who visited California this week.A delegation of about 10 members of the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party made the trip west to meet with industry leaders and subject matter experts about key areas of concern when it comes to dealing with China.Over the three-day trip that kicked off on Wednesday, lawmakers were scheduled to meet with Disney CEO Bob Iger and Apple CEO Tim Cook, as...

Xpeng expands assisted driving tech coverage to Shanghai, something Tesla doesn’t offer in China

Xpeng expands assisted driving tech coverage to Shanghai, something Tesla doesn’t offer in China

by AoCEgWtx4o
March 31, 2023
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Xpeng showroom in Beijing showing the P7 electric sedan.Vcg | Visual China Group | Getty ImagesSHANGHAI — Chinese electric car company Xpeng announced Friday it will be rolling out its latest assisted driving software to users in the metropolis of Shanghai, something its U.S. rival Tesla does not offer in China.Previously the technology was only available for Xpeng drivers in Shenzhen and Guangzhou. The company already offers assisted driving on highways in China.related investing newsThe new tech, called XNGP, claims to make driving easier with software that assists with smooth braking at traffic lights,...

Fosun Tourism bullish on China reopening, says Club Med ‘not for sale’

Fosun Tourism bullish on China reopening, says Club Med ‘not for sale’

by AoCEgWtx4o
March 29, 2023
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In this picture taken on October 12, 2016 a general view shows the Club Med resort in Sanya. Almost two years after being bought out by Chinese investment fund Fosun, the holiday resort French group Club Med tries to import its recipes on a promising Chinese market, where a growing upper middle-class now discovers the concept - still very new in Chinese society - of holiday resorts.Nicolas Asfouri | Afp | Getty ImagesClub Med is "very optimistic" about China's reopening, an executive from Fosun Tourism Group told CNBC Monday, adding that the luxury resort...

Biden Regime Rejects Any Russia-Ukraine Ceasefire… if China is Involved

Biden Regime Rejects Any Russia-Ukraine Ceasefire… if China is Involved

by AoCEgWtx4o
March 21, 2023
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The White House has voiced hostility to any efforts by Beijing to mediate a ceasefire in the conflict as Chinese President Xi Jinping prepared to visit his Russian counterpart Vladimir Putin for the first time since the weeks before to war breaking out in Ukraine. The ongoing conflict in Ukraine is expected to come up during Xi’s visit to Russia, which the Chinese Foreign Ministry and the Kremlin both confirmed on Friday. The trip comes in response to a 12-point peace proposal that China presented last month on the anniversary of the conflict, highlighting...