Tag Archives: Chinese

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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Chinese firm: We're missing $350M after exec's disappearance

Chinese firm lost contact with top exec The future is looking pretty sour for a major Chinese dairy firm. China Huishan Dairy says it’s missing most of its cash — about $ 357 million — following the disappearance of a top finance executive. The company, which says it runs more than 80 dairy farms, has been sinking deeper into crisis since its stock plunged 91% on a single day in March. In a statement Monday, Huishan said its accounts suggested it should have 2.9 billion yuan ($ 426 million) in ...

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Would you buy a Chinese car called Trumpchi?

GAC’s Trumpchi GS4 model. One of China’s biggest automakers plans to start selling cars in the U.S., but it’s facing a headache over the name of its flagship brand: Trumpchi. It was intended to sound like its Chinese name, Chuanqi. But executives at the brand’s owner, Guangzhou Automobile Group (GAC), are concerned the likeness to the U.S. president’s name could put its American ambitions in a spin. A GAC spokeswoman told CNNMoney that the company is doing research and consultation about whether to usethe Trumpchi brand in the U.S. It ...

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HSBC refuses to open bank account for Chinese dissident Ai Weiwei

Chinese artist Ai Weiwei poses in downtown Hong Kong, China April 19, 2017. REUTERS/Venus Wu By Venus Wu| HONG KONG Chinese dissident artist Ai Weiwei said on Wednesday global banking giant HSBC Holdings Plc refused to open a personal bank account for him in Hong Kong for what he assumed were political reasons, a conjecture the bank dismissed. The burly, bearded artist, who was in the financial hub for three days to visit his exhibition, said he did not try to open accounts at other banks, but that he had ...

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Chinese giant outbids U.S. rival for firm that handles Mexico money transfers

Jack Ma: President Trump must work with China A Chinese financial services giant is back in front in the race to buy U.S. money transfer service MoneyGram. The Chinese firm, Ant Financial, just upped its offer to $ 1.2 billion for MoneyGram(MGI), one of the most popular avenues for sending money from the U.S. to Mexico and other countries. The original deal struck in January was for $ 880 million, but U.S. company Euronet Worldwide(EEFT) jumped in last month with an unsolicited $ 1 billion offer. That forced Ant, an ...

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Chinese tech giant's $2 billion deal to buy Vizio collapses

LeEco’s founder and CEO, Jia Yueting, slashed his annual salary after admitting the company was running low on cash. A major Chinese tech deal in the U.S. just fell apart. Beijing-based LeEco has pulled the plug on a plan to buy U.S. electronics maker Vizio for $ 2 billion. In a statement, the companies blamed “regulatory headwinds” for the deal’s collapse but didn’t elaborate. It’s a sharp turnaround from July, when LeEco touted the acquisition of the U.S. smart TV maker as “an important step” in its efforts to grow ...

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Chinese firm creates jobs in Rust Belt county that voted for Trump

Chinese firm brings jobs to the U.S. A Chinese company is helping revive an Ohio town decimated by industrial decline. Tree-lined roads in Moraine used to be filled with cars driven by people heading to work at the region’s ubiquitous factories. Those factories are now shuttered and rusted. And most of the workers have packed up and left. “When all those jobs leave, it destroys a town,” said Shane Reffett, a local resident who grew up nearby. President Trump blames trade with China for destroying millions of U.S. manufacturing jobs ...

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Chinese shoe manufacturer: Ivanka Trump 'is a very good client'

Inside the Chinese firm that makes Ivanka Trump shoes For at least one Chinese company, the Trump family is good for business. While President Donald Trump promises tough talking on trade when he meets his Chinese counterpart Xi Jinping this week, his daughter’s clothing brand continues to take advantage of the country’s low cost production. “Ivanka is a very good client,” said Zhang Huarong, chairman of Huajian Group, whose factories churn out millions of shoes for Western brands, including Ivanka Trump. “But of course, I never imagined Ivanka’s father would ...

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