China has widened its clampdown on cryptocurrencies by declaring all activities related to digital coins ‘illegal’. The People’s Bank of China and other government agencies specifically targeted overseas crypto exchanges, stating that it was illegal for them to provide online services to residents in China, reports the Financial Times. The PBoC announced the crackdown on […]
Category: Tech, Media & Telecom
Over 200 of China’s online gaming companies – including the country’s largest game publishers, Tencent and NetEase – have vowed to self-regulate and combat user addiction, the country’s state-backed gaming industry association said, reports The Wall Street Journal. They agreed to implement controls to prevent young players from circumventing game-time regulations and to weed out […]
US-headquartered electric vehicle maker Tesla’s Shanghai factory is expected to produce 300,000 cars in the first nine months of the year, capped by a delivery rush in the end of Q3, despite a global semiconductor shortage, reports Reuters. In August, an official in the area where Tesla’s factory is located said it is expected to produce […]
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Huawei CFO leaves Canada
Huawei Chief Financial Officer Meng Wanzhou flew home to China on Friday after reaching an agreement with US prosecutors to end the bank fraud case against her, relieving a point of tension between China and the United States, reports Reuters. The years-long extradition drama has been a central source of discord in increasingly rocky ties […]
The sense of uncertainty overhanging the Chinese property market thanks largely to the Evergrande crisis hit global markets hard this week, as everyone wondered if the massive China property developer was going to default on loans and trigger a China, and hence global, financial crisis. By the end of the week, there was a sense that the […]