China’s top market regulator has fined a subsidiary of short-video giant Kuaishou Technology RMB 26.7 million($3.8 million) for a range of violations, reports Caixin, including inflating sales data and enabling the illegal trade of wildlife products. The State Administration for Market Regulation (SAMR) on Friday imposed the penalty on Chengdu Kuaigou Technology, a wholly owned e-commerce […]
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Labubu toymaker Pop Mart plans to establish its European headquarters in London, reports the South China Morning Post. This came as UK Prime Minister Keir Starmer met the company’s founder during a high-profile China visit aimed at rebuilding Britain’s economic ties with China. “London stands at the heart of the global creative ecosystem, and we are thrilled to plant our European roots there,” Wang said in a […]
Panama’s Supreme Court has ruled that contracts to operate two ports on the Panama Canal held by Panama Port Company (PPC), a subsidiary of Hong Kong’s CK Hutchinson, are unconstitutional and therefore void. The PPC, which is operated by Hutchinson, owned by billionaire Li Ka-shing, has been running the ports on either end of the […]
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AstraZeneca to invest $15BN in China
UK drugmaker AstraZeneca will invest $15 billion in China through 2030 to expand medicines manufacturing and research and development, reports Reuters. The announcement was made as British Prime Minister Keir Starmer visited Beijing. The announcement marks the biggest deal so far during the trip, as Britain seeks to strengthen ties with Beijing at a time of […]
Alibaba Group’s semiconductor design arm, T-Head, has unveiled details of its advanced AI chip with capabilities said to be on par with Nvidia’s H20, reports the South China Morning Post. The unveiling comes days after the unit was reportedly being prepared for a potential spin-off and public listing. According to information on T-Head’s website, the Zhenwu 810E was a “fully self-developed” parallel processing unit […]