Tag Archives: China

The Xi Jinping economy: What's next for China?

Jack Ma: ‘It’s not made in China, it’s made on the internet’ Chinese President Xi Jinping is aiming to show the world’s second largest economy who’s boss. The country’s top leaders are gathered in Beijing this week for the National Congress of the ruling Communist Party, an event that takes place just twice a decade and is the peak of China’s political calendar. For Xi, it’s a chance to tighten his already strong grip on power as he prepares for a second five-year term. During his first five years, he ...

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China shuts down billionaire's golf courses

China’s richest man’s Hollywood ambitions It’s a double bogey for Chinese real-estate tycoon Wang Jianlin. Authorities have shut down two high-end golf courses at a resort in northeastern China operated by Wang’s company, Dalian Wanda Group. The closures are the latest case of Chinese government officials cracking down on golf, which has become a symbol of the political corruption against which President Xi Jinping has been waging a massive, high-profile campaign. They also represent a fresh setback for Wanda, which has found parts of its businesses under pressure from authorities ...

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China has a new richest man after his company stock soared 450%

China’s love of QR codes There’s a new face at the top of China’s wealth tree. Real estate tycoon Xu Jiayin, founder of China Evergrande(EGRNF), is now the country’s richest man after his wealth ballooned to $ 43 billion, according to the latest Hurun China Rich List. Xu, also known as Hui Ka Yan, dethroned real estate and entertainment magnate Wang Jianlin in the closely watched list. Wang, who owns Dalian Wanda, plummeted to fifth place as his wealth shrunk by almost 30%. Evergrande’s Xu has seen his net worth ...

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China accused of flooding Europe with cheap e-bikes

This motorcycle is actually a bicycle China has been accused of flooding Europe with hundreds of thousands of cheap electric bicycles. Imports of Chinese e-bikes to Europe have increased from almost zero in 2010 to an estimated 800,000 in 2017, according to the European Bicycle Manufacturers Association. The industry group has had enough: It filed a complaint with the European Commission on Monday that accuses Chinese manufacturers of dumping e-bikes into the European market at rock bottom prices. The complaint argues that subsidies offered by the Chinese government allow its ...

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France-Germany rail merger aims to take on China

Aboard the first hydrogen commuter train Europe is creating a train giant to fend off Chinese competition. French high-speed train manufacturer Alstom(ALSMY) is merging with the transportation unit of Germany’s Siemens(SIEGY), the companies said in a statement late Tuesday. Siemens has been pursuing partners for its railway business, reportedly holding talks with Swiss manufacturer Stadler Rail and Canadian rival Bombardier(BDRAF). The goal of the deal with Alstom is to counter China’s growing clout in global rail markets. Beijing stepped up its efforts in 2015 by merging two big companies into ...

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WhatsApp is blocked in China

China’s multifaceted messaging app: WeChat Popular messaging app WhatsApp has been largely blocked in China. According to the Open Observatory of Network Interference (OONI), network measurement data suggests that Chinese internet service providers started blocking access to WhatsApp on September 23. Public reports on Twitter indicate that WhatsApp, which is owned by Facebook, became inaccessible for some people on September 19. Over the last few months, there have been a number of WhatsApp disruptions in China. WhatsApp declined to comment on its status there. The most recent move to censor ...

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Ai Wei-Wei critical of China at opening of Swiss exhibit

LAUSANNE, Switzerland (Reuters) – Ai Wei-Wei denounced China’s crackdown on lawyers and free speech on Wednesday but saw little hope that the upcoming Communist Party Congress would lead to more freedoms. The Chinese dissident artist spoke while inaugurating an exhibit in the Swiss city of Lausanne that includes some of his political works symbolizing repression. “They are not accepting what we call common values such as democracy and freedom of speech and the freedom of religious practice and independence of the press or independence of a judicial system or people ...

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Quest: China is planning for the future while the West bickers

Equifax hack turns into PR catastrophe Quest’s Profitable Moment I am in Chengdu, China this week attending the 22nd Summit of the United Nations World Tourism Organization. Again, I am struck by the sheer size and scale of this country, a fact so often not understood by people in the West. Chengdu is a city of 15 million people, according to the latest census numbers. That makes it twice as big as London or New York City. Incredibly, Chengdu is only China’s fourth largest city behind Chongqing, Beijing and Shanghai. Oh ...

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China to U.S.: Please stop sending us your junk

Containers ships in Qingdao port, China. For decades, shipping containers have been loaded with American scrap and waste and dispatched to China for recycling. It’s a $ 5 billion annual business that is now in danger of sinking. Beijing notified the World Trade Organization in July that it plans to ban the import of 24 varieties of solid waste, including types of plastic and unsorted paper commonly sent from the U.S. China said that the ban would take effect from September, giving American companies little time to prepare. ISRI estimates ...

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China wants to ban gas and diesel cars

What’s the difference between electric and electrified cars? China is preparing to put the brakes on gasoline and diesel cars. The country, home to the world’s largest auto market, is working on a plan to ban the production and sale of vehicles that rely on fossil fuels, officials say. The Chinese government is following in the footsteps of countries like India, France, Britain and Norway, which have already announced plans to completely ditch gas and diesel cars in favor of cleaner vehicles in the coming years. Related: Ford will create ...

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