China - page 19

Finance & Economics

Moody’s Changes China Credit Outlook to Negative

Moody’s Investors Service has changed the forecast for Chinese sovereign bonds, lowering the corresponding indicator to negative.

Finance & Economics

Chinese Borrowers Reportedly Face Ban on Mobile Payments

Media reports that in China, millions of local consumers are faced with the problem of blocking access to mobile payment apps.

News

McKinsey Says About Absence of Signs of Recovery in Consumer Activity in China

Experts from the international consulting company McKinsey said that in the foreseeable future, Chinese consumers do not intend to spend large amounts of money on buying goods, which is why local companies should focus more on strategic planning within their business concepts to master the market, which remains huge, despite various problems.

News

China’s AI Chipmaker Biren Wins Secures Pledge of $280 Million

The Chinese company Shanghai Biren Intelligent Technology Co., which specializes in manufacturing activities for making chips for use in artificial intelligence systems, received financial funds for 2 billion yuan ($280 million) as collateral from investors.

Finance & Economics

China’s Manufacturing Activity Shrinks

In November, China recorded a decrease in the level of activity in the manufacturing sector and sphere of services.

Finance & Economics

China to Focus on Sustainable Growth

Pan Gongsheng, governor of the People’s Bank of China, said that at present, high-quality and sustainable growth is the most important for this country in terms of priorities related to the economic system.

News

Chinese Zhongzhi Enterprise Group Says About Its Huge Debt

The largest Chinese asset management company Zhongzhi Enterprise Group (ZEG) has informed investors that it is no longer able to pay its bills.

News

China Fines Foxconn

In China, local tax authorities fined a subsidiary of Foxconn Technology Group.

News

Baidu Posts Revenue Rise

Chinese technology giant Baidu on Tuesday, November 21, announced the financial results of its activities for the third quarter of 2023.

Fintech & Ecommerce

Mastercard JV to Process Domestic Payments in China

Mastercard joint entity in China received formal approval from the People’s Bank of China and the National Administration of Financial Regulation to start processing domestic payments in the country.

Science & Technology

China Rolls Out Advanced Internet Network

China has begun deploying what it described as the world’s most advanced Internet network.

News

Alibaba Loses $20 Billion in Market Value

Chinese e-commerce giant Alibaba has lost $20 billion in market capitalization after it became known that this company will no longer spin-off and list its cloud computing business as a separate functional unit.

News

Chipmaking Gear Companies Record Sales Growth in China

Leading manufacturers of equipment used in making microcircuits have recorded a sharp increase in the share of revenue they receive in the Chinese market.

Science & Technology

Xiaomi and Huawei Lead China Phone Market

Huawei Technologies Co. and Xiaomi Corp. have activated the Chinese mobile phone market, which showed double-digit growth in October.

News

Meta Plans to Bring Its Mixed Reality Headset to China

Meta Platforms Inc. has approached the conclusion of a deal that will provide this technology giant with the opportunity to supply a mixed-reality headset to the Chinese market.

News

China’s Largest Chipmaker SMIC Reports Drop in Profit

The largest Chinese manufacturer of chips SMIC last Thursday, November 9, reported that at the end of the third quarter of this year, its profit indicator showed a significant drop.