Bitcoin mining is quietly staging a comeback in China despite being banned four years ago, as individual and corporate miners exploit cheap electricity and a data-centre boom in some energy-rich provinces, according to miners and industry data, reports the South China Morning Post. China had been the world’s biggest crypto mining country until Beijing banned […]
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Volkswagen has said it can produce an electric vehicle entirely made in China for half the cost of doing so elsewhere, and following a series of investments in the country, it could for the first time develop cars outside Germany. VW is also in discussions about increasing exports of Chinese-made cars as well as applying […]
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Cainiao expands parcel service in Africa
Alibaba Group Holding’s logistics arm, Cainiao, has expanded its parcel delivery service to eight African countries—including Morocco, Ghana and Nigeria—as it races to give Chinese e-commerce merchants a cheaper, more reliable way to reach the fast-growing continent, reports the South China Morning Post. The company planned to extend the service to South Africa and Egypt […]
Two more leading joint-stock commercial banks have secured official approval to open financial asset investment companies (AICs), expanding the roster of lenders authorized to conduct debt-for-equity swaps and direct equity investments to nine, reports Caixin. China CITIC Bank Corp. Ltd. said it has received a green light Friday from the National Financial Regulatory Administration to […]
President Donald Trump touted relations with China as “extremely strong” on Monday following a call with Chinese leader Xi Jinping, who told Trump that Taiwan’s “return to China” is a key part of Beijing’s vision for the world order, reports Reuters. The call, not previously flagged by either country, came weeks after the two leaders […]