Tag Archives: Chinese

Top soccer team slammed over Chinese sponsorship deal

Philippe Coutinho of Liverpool. The team is under fire for a deal with a Chinese company that bottles Tibetan spring water. Has English soccer team Liverpool scored an own goal with a Chinese sponsorship deal? The high-profile club, which is owned by the same company as the Boston Red Sox, has come under fire this week from human rights campaigners who want it to ax a deal with a company that bottles mineral water from a Tibetan glacial spring. Activist group Free Tibet slammed Liverpool’s agreement with Hong Kong-based Tibet ...

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It's not just Amazon: Chinese tech giants are selling groceries too

You need an app to shop in Alibaba’s grocery stores China’s biggest e-commerce companies are hungry for groceries. Amazon(AMZN, Tech30)‘s move to swallow Whole Foods for $ 13.7 billion grabbed attention in the U.S., and the internet giant has also been dabbling in cashier-less grocery stores. But experts say China is already ahead of the curve. Alibaba(BABA, Tech30), the country’s biggest online shopping company, has introduced a grocery store that has both a virtual and physical presence. It quietly started rolling out the stores two years ago “because no one ...

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Song dynasty bowl shatters world record for Chinese ceramics, fetches $37.7 million in HK sale

HONG KONG (Reuters) – A nearly 900-year-old porcelain Song dynasty bowl smashed the world auction record for Chinese ceramics on Tuesday, selling for HK$ 294.3 million ($ 37.68 million) at a Sotheby’s sale in Hong Kong. The small, blue-green item broke the previous record, also set in a sale in Hong Kong, when a 500-year-old imperial “chicken” cup from the Ming dynasty Chenghua period sold for HK$ 281.2 million ($ 36.0 million) in 2014, Sotheby’s said. The 13-cm (5-inch) bowl, used to wash brushes, was fired in the famed Northern ...

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Electric flying car startup gets Chinese cash

Imagine: A five-seat electric jet that can move passengers between Manhattan and JFK Airport in five minutes. That ambitious idea has caught the attention of China’s Tencent(TCEHY), the lead investor in a $ 90 million fundraising round announced Tuesday by startup Lilium. The German firm, which successfully tested a prototype two-seater jet in April, said it will use the money to add to its 70 staff and develop a larger five-seat jet that can take off and land vertically. Founded by four students from the Technical University of Munich in ...

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Trump moves to slap duties on Chinese aluminum foil

Trump hits Canadian lumber with steep tariffs The Trump administration has taken the first steps to hit China with a duty on its aluminum foil exports. The Commerce Department announced a preliminary decision Tuesday evening to tax aluminum foil from China at a rate of between 16.5% and 81%, based on the subsidies it says it receives from the Chinese government. “The United States is committed to free, fair and reciprocal trade, and will continue to validate the information provided to us that brought us to this decision,” Commerce Secretary ...

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Chinese billionaire battles talk of trouble at real estate empire

China’s richest man’s Hollywood ambitions Chinese billionaire Wang Jianlin is fighting back against talk that his sprawling business empire is in trouble. Wang’s Dalian Wanda Group is one of China’s biggest conglomerates, with several international acquisitions under its belt. Less than a year ago, Wang was promising to become the world leader in real estate, tourism, entertainment and sports. Now he’s on the defensive.Last week Dalian Wanda sold several theme parks and dozens of hotels for $ 9.3 billion, marking the end of Wang’s dream to defeat Disney(DIS) in China. ...

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Chinese Censors Working Overtime in Wake of Dissident Liu Xiaobo’s Death

Last week, Chinese literary critic, writer, poet, Nobel Peace Prize winner, and long-time civil rights activist Liu Xiaobo died of terminal liver cancer. Ever since then, China’s web of censorship and online suppression is reportedly working around the clock to prevent any sort of discussion or movement that could build around the outspoken activist’s work. According to the Citizen Lab at the University of Toronto’s Munk School of Global Affairs, there was a significant shift in Chinese censorship patterns following Liu’s death. The Citizen Lab analyzed the Chinese messaging app ...

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Chinese money has changed the face of Hong Kong's skyline

Hong Kong: How the city has changed since 1997 You know your neighborhood is getting priceywhen even luxury brands like Gucci move out. The Italian fashion house is just one of many top Western firms that have found themselves on the wrong end of Hong Kong’s dizzying real estate boom. The price of commercial property in prime areas of the city has almost doubled since the U.K. handed it back to China two decades ago, becoming the most expensive in the world. Like many things that have changed in Hong ...

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Chinese students are losing interest in working at international firms

Baidu CEO: Immigrants welcome The desire to work for international companies is waning amongst China’s best and brightest. Scoring a job at a big Western firm used to carry serious cache in China, but now just 18% of Chinese college students say they want to work for an international company, according to a new survey conducted by research firm Universum. That’s down from 28% two years ago. Local companies are growing faster and seen as more innovative, according to William Wu, Universum’s country manager for China. “In that sense, the ...

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Businesses cash in as millions of Chinese students sweat over crucial exam

For millions of teenagers, it’s a big source of stress. For many businesses, it’s a great chance to make money. More than 9 million high-school students across China are taking the biggest exam of their lives this week. Known as the gaokao, the grueling two-day test determines where the students go to university and what they’ll study. With so much riding on the outcome, parents are willing to loosen the purse strings to try to ensure success, splashing out on private tutors, good luck charms and even luxury hotels. “Gaokao ...

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