Meituan founder donates $2.27 BLN shares as charity grips Chinese billionaires
The founder of food delivery giant Meituan will donate shares worth about $2.27 billion to his personal charity. This is shown in a stock exchange filing, making him the latest Chinese tech billionaire to make such a gesture. All these donations of shares by the Chief Executive Wang Xing comes as Meituan and other platform economy […]
Nvidia asks Chinese regulators to approve $40 Billion Arm Deal
Nvidia Corp has submitted an application to Chinese competition regulators to review a $40 billion takeover of UK chip designer Arm, the Financial Times reported, citing people familiar with the matter. In the recent week only, the applications were made. According to Chinese antitrust lawyers, this has set in motion a period of scrutiny that could […]
Huawei launches new operating system for phones, eyes ‘Internet of things’ market
China’s Huawei Technologies launched its Harmony operating system for smartphones, looking to recover from U.S. sanctions that have hobbled its handset business. Huawei will start rolling out HarmonyOS on selected smartphone models. This offers users the chance to switch from the current operating system based on Google’s Android platform. HarmonyOS use means the company will […]
US chip subsidy effort faces pushback over china issues
A series of amendments for a $190 billion U.S. Senate bill aimed at countering China’s technology challenge are in limbo after business groups protested proposals intended to ensure that none of the money finds its way to China or other U.S. rivals. U.S. business’s future operations could be disrupted because of the new regulations or […]
Huawei plans to launch new operating system for phones in June
China’s Huawei Technologies said that it will launch its new Harmony operating system for smartphones on June 2. This is its biggest move yet aimed at recovering from the damage done by U.S. sanctions to its mobile phone business. The use of its own operating system will mean that it will no longer be reliant […]
Tencent Q1 profit rises 65% as online gaming revenue climbs
Chinese gaming and social media giant Tencent Holdings Ltd reported a forecast-beating 65% rise in quarterly profit. This is driven by a surge in users for its video games in China and international markets. Tencent is the the world’s largest gaming firm by revenue. The company has booked a profit of 47.77 billion yuan ($7.42 billion) […]
China’s SMIC raises revenue expectations following strong first quarter as chip shortage boosts demand
In this first half of the year, there is an increased demand for the chips. China’s Semiconductor Manufacturing International Corp (SMIC) said that the chip demand is exceeding the supply and the sales expectations are high. Zhao Haijun, co-chief executive of SMIC, said in a company earnings call that their current capacity could not fulfil […]
UK to help vulnerable countries against Russia, China cyber threat
Britain said that it would invest 22 million pounds ($31 million) to help vulnerable countries in Africa and the Indo-Pacific. This is to build up their cyber defences to prevent China, Russia and others from filling a cyberspace vacuum. Dominic Raab, the British foreign minister said that Britain and its partners needed to take action […]
China March new bank loans rise but broad credit growth eases
Due to strong corporate and household demand, new bank loans in China have risen when compared to last month. This is because the central bank walks a tightrope between supporting the rapidly recovering economy and containing debt risks. In March, Chinese banks extended 2.73 trillion Yuan ($416.62 billion) in new Yuan loans, up from 1.36 […]
The war of Intellectual Property in China
The US has three big trade wars running and demanding the intellectual property ( IP ) protection, market access and ending subsidies. Leo Austin, the UK based businessman who has decades of experience in China gave us this comparison, between cultural attitudes to intellectual property protection. China is having the best interests to get it […]