Chinese smartphone manufacturer Xiaomi’s revenue rose by a record 64% in the second quarter of 2021, the company said on Wednesday, reports Reuters. Xiaomi also announced the purchase of an autonomous driving startup as it looks to expand into the competitive market. Sales reached RMB 87.8 billion ($13.56 billion), up from RMB 53.54 billion a […]
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Chinese regulators have removed 67 apps from app stores for data abuse and over-use of pop-up notifications, the apps include one of China’s biggest podcast platforms, Dragonfly FM, which has 130 million monthly active users, reports the South China Morning Post. The Ministry of Industry and Information Technology (MIIT) said in a statement on Wednesday […]
In a potential preview of greater challenges yet to come, labor shortages are materializing in factories across China as young people eschew factory work and increasing numbers of migrant workers stay home, reports the Wall Street Journal. With global demand for Chinese goods surging this year, factory owners say they are struggling to fill jobs […]
China’s biggest lithium group, Ganfeng Lithium, has had a cash offer accepted for the UK-listed company Bacanora Lithium, reports the Financial Times. The deal, valued at £284.8 million ($391 million), gives the Chinese group control over a mine in Mexico. Ganfeng said it had secured a letter of support from Bacanora’s second-largest shareholder, M&G, which owns […]
President Xi Jinping’s aim to decrease inequality and push for common prosperity does not mean “killing the rich to help the poor” but that those that get rich first should help those behind and hard work should always be encouraged, according to a Chinese official, reports Reuters. China must also “guard against falling into the […]