China Newsbase

U.S. accuses Huawei of stealing trade secrets, assisting Iran

U.S. prosecutors on Thursday accused Huawei of stealing trade secrets and helping Iran track protesters in its latest indictment against the Chinese company, escalating the U.S. battle with the world's largest telecommunications equipment maker.

February 13, 2020 Source: U.S.

Under Lockdown and Quarantine, China’s Punk Rock Bands Are Taking the Mosh Pit Online

With venues shuttered in the wake of the COVID-19 “coronavirus” outbreak, China’s indie musicians are live-streaming shows and organizing “bedroom” festivals.

February 13, 2020 Source: Hyperallergic

China pushes for cheaper health insurance products to battle virus: sources

China is nudging insurers to work on cheaper medical cover linked to the coronavirus and is assuring them of fast-track approval for these new products, people with knowledge of the matter said.

February 13, 2020 Source: U.S.

China’s 58 Home Said to Delay U.S. IPO as Virus Hurts Demand

58 Home, the maid and home-maintenance service owned by China’s Craigslist equivalent 58.com Inc., has delayed its planned U.S. initial public offering, according to people familiar with the matter, as the coronavirus outbreak cripples customer demand.

February 13, 2020 Source: Bloomberg

Alibaba Is Said to Be Blocked From Hong Kong-China Stock Tie

Investors betting on Alibaba Group Holding Ltd.’s inclusion in a program allowing mainland Chinese investors to buy its shares in Hong Kong could be in for a disappointment.

February 10, 2020 Source: Bloomberg

British Airways cancels mainland China flights until end of March

British Airways said on Monday all its flights to mainland China had been canceled until the end of March as the government continues to advise against all but essential travel to the country due to an outbreak of coronavirus.

February 10, 2020 Source: U.S.

Italy’s Hopes for Closer China Ties Hit by Flight Ban Rift

An Italian ban on flights to and from China has ruffled diplomatic ties with Beijing, less than a year after Rome had positioned itself for a privileged relationship by signing up to the Chinese Belt and Road infrastructure project.

February 10, 2020 Source: Bloomberg

Geely Surges in Hong Kong on Proposed Merger With Volvo Cars

Billionaire Li Shufu’s Geely Automobile Holdings Ltd. surged in Hong Kong trading after the company announced plans to merge with Swedish affiliate Volvo Cars, a move that could pave the way for China’s first global carmaker.

February 10, 2020 Source: Bloomberg

China car dealers seek help as coronavirus slows showroom traffic

Chinese auto dealers, who have seen traffic through their showrooms slow to a trickle due to the fast-spreading coronavirus, have sought temporary financial support to see them through.

February 6, 2020 Source: U.S.

Exclusive: China's mobile giants to take on Google's Play store - sources

China's Xiaomi , Huawei Technologies [HWT.UL], Oppo and Vivo are joining forces to create a platform for developers outside China to upload apps onto all of their app stores simultaneously, in a move analysts say is meant to challenge the dominance of Google's Play...

February 6, 2020 Source: U.S.

China's CNOOC declares force majeure on some prompt LNG deliveries - sources

China National Offshore Oil Corp (CNOOC) has declared force majeure on prompt liquefied natural gas (LNG) deliveries from at least three suppliers, two sources told Reuters on Thursday.

February 6, 2020 Source: U.S.

Foxconn sees full China production resuming late-February: source

Taiwan's Foxconn aims to gradually restart operations at factories in China next week but it could take one to two weeks from then to resume full production due to the coronavirus outbreak, a person with direct knowledge of the matter said.

February 5, 2020 Source: U.S.

Bitcoin Spikes to October Highs as China Stocks Plunge on Reopen

Cryptocurrencies briefly jumped amid chaotic trading in Asia after China’s stock markets reopened to steep losses following an extended holiday shutdown.

February 2, 2020 Source: Bloomberg

At Least Two-Thirds of China Economy to Stay Shut Next Week

January 30, 2020 Source: Bloomberg

China Seen Slowing to 4.5% in 1Q in Severe, Short Virus Outbreak

China’s economy may grow just 4.5% this quarter, down from 6% in the prior three months, if the coronavirus inflicts a severe yet temporary impact on output, according to Bloomberg Economics.

January 30, 2020 Source: Bloomberg

As Coronavirus Spreads, So Does Anti-Chinese Sentiment (Published 2020)

Fears of the outbreak have fueled xenophobia as a wave of panic spreads, sometimes outstripping practical concerns.

January 30, 2020 Source: The New York Times

UK minister met surveillance firm accused of enabling Uighur abuses

Facial recognition firm SenseTime and government discussed use of AI in universities

January 29, 2020 Source: the Guardian

Macau Tourist Arrivals From China Plunge 80% in Blow for Casinos

China’s deadly virus outbreak is threatening the outlook for casino operators in the world’s largest gambling hub.

January 27, 2020 Source: Bloomberg

China Markets Under Strain Before Holiday Amid Virus Uncertainty

Panic coursed through the world’s second-largest equity market as investors sold stocks on concern a deadly virus will worsen over China’s week-long trading break.

January 22, 2020 Source: Bloomberg

China’s Finance World Opens Up to Foreigners, Sort Of: QuickTake

Even as political and trade tensions have escalated between China and the U.S., the Chinese financial system’s opening to Wall Street has proceeded apace. China has been allowing more foreign banks, insurers, asset managers and payment companies in to chase after billions of dollars in profits. It also has been making it easier for foreigners to buy its stocks and bonds — something many fund managers are required to do now that major index compilers are including Chinese assets in their gauges —

January 22, 2020 Source: Bloomberg