Huawei Technologies’ deal with US mobile carrier AT&T to distribute the Chinese company’s smartphones in the North American market has collapsed at the last minute, with sources citing political pressure from the US side as a major cause, according to the South China Morning Post. Experts and a former Chinese commerce official told the SCMP that […]
Category: Business Practice
China aims to eradicate the bitcoin mining industry due to concerns about its excessive electricity consumption and potential financial risks, the Financial Times reports. The move reflects Beijing’s judgment that cryptocurrencies are not an important strategic industry. A document seen by the FT details that the central government has set up a multi-agency task force […]
An ambitious deal between Chinese conglomerate Dalian Wanda and US tech company IBM to join forces and become a major player in the booming Chinese cloud-computing market appears to be in danger, as Wanda plans deep cuts to personnel in a key department, sources told Caixin. Wanda plans to make major cutbacks in the cloud-computing […]
US aluminum makers asked the government to impose new trade protections against Chinese imports on Tuesday, accusing companies including China Zhongwang Holdings Ltd of evading US anti-dumping and anti-subsidy duties by shipping products through Vietnam, Reuters reports. The Aluminum Extruders Council said in its filing with the US Commerce Department that aluminum extrusions from Zhongwang affiliate […]
French President Emmanuel Macron said that China and Europe should work together on Beijing’s Belt and Road Initiative during his visit to Xi’an on Monday, Reuters reports. The first stop of Macron’s first state visit to China, Xi’an, was an important jumping-off point on the ancient Silk Road and also an important part of Beijing’s efforts […]