Chinese ride-hailing giant Didi Chuxing could face tougher regulatory oversight that will make it more difficult to hire drivers and could lengthen customers’ waiting times in the wake of the death of a second passenger using its now-suspended carpool service, according to Reuters. The company issued a groveling apology on Tuesday that echoed accusations made […]
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Three of China’s “big four” state-run commercial banks reported year-on-year profits growth above 5% for the first half of 2018, suggesting that they have an advantage over smaller competitors that are struggling due to the country’s crackdown on financial risk, Caixin reports. China Construction Bank reported profits were up 6.5%, while Bank of China’s profits […]
China’s leaders have sent another signal that they will soon scrap limits on the number of children parents are able to have by publishing a draft civil code with no mention of the controversial policy, Caixin reports. The new civil code, which could come into force as early as 2020, would replace existing laws that […]
Chinese President Xi Jinping appears to have successfully shored up his power base in Beijing since returning from the Communist party’s annual summer break and shows no sign of changing course on his major policy initiatives, according to the South China Morning Post. The annual vacation for China’s top leaders in the northern beach resort […]
The United States plans to resolve its trade issues with Europe, Canada and Mexico before shifting its focus to China, US Treasury Secretary Steven Mnuchin said Tuesday. “We’ve put [Washington’s foreign trade objectives] in three categories: the first was really [the North American Free Trade Agreement, or Nafta]; the second is dealing with the EU, […]