Chinese companies going global. Global companies capitalizing on the size and growth of the China market. State-owned enterprises. Policy-based state investment. Startup unicorns with Chinese characteristics. There is no shortage of business stories to tell in China.
While widely credited with "having left China," Google still operates a significant in-country presence and through its parent company, Alphabet, continues to launch new projects in China and invest into Chinese companies of all sizes.
The sudden closure of the Xinfadi market, which took place around 3 a.m. on June 13, was widely viewed as a necessary move to curb the spread of the deadly virus. But, it has resulted in massive financial losses for merchants working at the market, and raised fears of a food shortage in the Chinese capital.
Didi Chuxing, Chinaโs largest ride-hailing company, has filed a lawsuit against a couple who filmed a staged pornographic video featuring a Didi driver drugging and raping a female passenger. The company said that the explicit video had tarnished its reputation and seriously undermined its efforts to protect passengers from sexual assault and harassment.
The tech hero of the pandemic lockdowns finds itself at the center of attention for less desirable reasons this time.
HSBC was founded more than 150 years ago to finance trade ties between China and Europe. Now, the London-based bank faces criticism from both the U.S. and China as tensions grow.
Media baron Jimmy Lai Chee-Ying (้ปๆบ่ฑ Lรญ Zhรฌyฤซng)ย is unique among Hong Kongโs tycoons in his willingness to take on Chinaโs government. Lai made his fortune in fashion before the 1997 Hong Kong handover, and started the tabloid and pro-democracy news outlet Apple Daily in 1995. The newspaper is owned by Next Media Group, which publishes newspapers and websites in Hong Kong and Taiwan.
President Trump is giving regulators 60 days to come up with strategies for cracking down on U.S.-listed Chinese companies. Trump instructed his presidential working group on financial markets to look at ways to curb listings of Chinese companies that have not abided by U.S. accounting standards.
A few promising signs indicate China's economy is picking up again. However, top line statistics don't tell the full story, and the CCP is stepping in to prod the economy back into action.
The U.S. Commerce Department says new restrictions on 33 Chinese companies with ties to Xinjiang, Chinaโs military, and efforts to produce weapons of mass destruction will go into effect on Friday. The companies are based in mainland China, Hong Kong, and the Cayman Islands.