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.
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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.
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.
China’s Manufacturing Activity Shrinks
In November, China recorded a decrease in the level of activity in the manufacturing sector and sphere of services.
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.
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.
China Fines Foxconn
In China, local tax authorities fined a subsidiary of Foxconn Technology Group.
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.
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.
China Rolls Out Advanced Internet Network
China has begun deploying what it described as the world’s most advanced Internet network.
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.
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.
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.
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.
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.
Nvidia Reportedly to Release New AI Chips for China
The media reported that Nvidia Corporation plans to release three new artificial intelligence chips developed specifically for the Chinese market.
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