Business

China’s Mobile Phone Market Booms: Shipments Surge 68.1% in January, Driven by 5G and Domestic Brands

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China’s mobile phone market witnessed a remarkable surge in January, with shipments skyrocketing 68.1% year-on-year to reach 31.78 million units, according to data from the China Academy of Information and Communications Technology (CAICT). This significant growth suggests a robust market and strong consumer demand. The data revealed a clear shift towards 5G technology, with these … Read more

China Raises Mobile Payment Limits for Foreign Visitors

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China Raises Mobile Payment Limits for Foreign Visitors China announced a significant increase in mobile payment limits for foreign visitors on Friday, aiming to address payment challenges and enhance their overall experience in the country. This move comes as China seeks to improve accessibility and convenience for international travelers, recognizing the widespread adoption of mobile … Read more

Apple Discounts iPhones in China to Counter Growing Domestic Competition

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Apple dealers in China are offering significant discounts on the latest iPhone 15 series in an attempt to reignite sales and counter growing competition from domestic brands like Huawei. This comes after a previous promotion in January that offered a much smaller discount. The top-of-the-line iPhone 15 Pro Max, initially priced at 9,999 yuan (US$1,390), … Read more

Biden Takes “Unprecedented Action” Against Chinese Car Imports Amidst Data Security Concerns

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The White House announced a significant move on Thursday, initiating an investigation into the potential national security risks posed by Chinese-made vehicles with “connected” car technology. This unprecedented action, as President Biden himself described it, aims to determine if restrictions on such imports are necessary to safeguard sensitive data and infrastructure. Citing concerns that Chinese-assembled … Read more

Volkswagen Shakes Hands with Xpeng to Develop Electric Cars, Hoping to Reclaim Ground in China

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In a bid to regain lost ground in China, the world’s largest electric vehicle (EV) market, the Volkswagen Group has joined forces with Chinese EV manufacturer Xpeng. This collaboration aims to co-develop two mid-sized, battery-powered vehicles for the mainland market, with an anticipated launch in 2026. The announcement, made on Thursday, revealed that these new … Read more

Chinese Beverage Giant Founder Zong Qinghou Passes Away at 79

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Zong Qinghou, the self-made billionaire founder of the Chinese beverage giant Wahaha Group, has passed away at the age of 79. He is known for leading Wahaha to become a household name in China and for navigating a high-profile dispute with French food giant Danone. Zong co-founded Wahaha in 1987, and through his shrewd business … Read more

Hong Kong Bankers Outpace Singaporean Peers with 46% Salary Advantage

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Hong Kong’s bankers enjoy significantly higher salaries compared to their counterparts in Singapore. A recent report by Bloomberg Intelligence revealed that Hong Kong-based investment banking analysts earn an average of 46% more than their peers in the Lion City. This trend extends to associates, who command nearly 36% higher salaries in Hong Kong. Several factors … Read more

Manifacturing : US companies still mass produce in China

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Despite ongoing trade tensions, American companies remain surprisingly keen to manufacture in China. This seemingly counterintuitive trend reflects the complex reality of globalized supply chains and China’s enduring strengths in certain sectors. While headlines often focus on companies moving production out of China, the reality is nuanced. Many U.S. firms still rely heavily on Chinese … Read more

Chinese E-commerce Giant Eyes UK Expansion: JD.com Considers Currys Takeover Bid

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As China’s e-commerce titans continue their global expansion, JD.com has set its sights on the UK with a potential takeover bid for electronics retailer Currys. This move could mark a significant shake-up in the British retail landscape, raising questions about competition, consumer benefits, and China’s growing influence in the international marketplace. Currys, currently the UK’s … Read more