China

SMIC Reports Record Quarterly Revenue Driven by Strong Demand for Legacy Chips

by

China’s leading chip foundry, Semiconductor Manufacturing International Corp (SMIC), reported record-breaking third-quarter revenue, driven by robust domestic demand for “legacy chips.” SMIC’s Q3 revenue reached US$2.17 billion, a 34% increase year-over-year, marking the first time the Shanghai-based company has surpassed US$2 billion in quarterly revenue. Net profit surged by 58.3% to US$148.8 million. SMIC’s continued … Read more

Shenzhen Global Innovation Forum of Talents 2024: Fostering Innovation and Global Talent Development

by

The 2024 Shenzhen Global Innovation Forum of Talents, held at the Shenzhen Convention and Exhibition Center on November 1, highlighted Shenzhen’s focus on talent and innovation under the theme “Insight, Progress, Opportunity.” Established in 2017, Shenzhen Talent Day underscores the city’s commitment to fostering a robust talent ecosystem. Keynote Insights and Talent Strategies Notable speakers … Read more

Alibaba Scales Back Metaverse Operations Amid Restructuring Efforts

by

Alibaba Group Holding is reducing its metaverse operations, becoming the latest major tech player to re-evaluate its commitment to the sector. According to sources, dozens of employees from Alibaba’s metaverse unit, Yuanjing, have been laid off as part of a restructuring process aimed at boosting organizational efficiency. Yuanjing, which operates in Shanghai and Hangzhou, previously … Read more

Shenzhen to Host Over 25 Major Sports Events in the Next Two Months

by

Shenzhen is set to host approximately 25 sports competitions in the next two months, bringing the city’s annual tally to around 200 events. The lineup includes prominent events like the China Cup International Regatta (CCIR), the Shenzhen Marathon, and the World Match Racing Tour (WMRT) Shenzhen Bao’an Grand Final. The CCIR kicked off Thursday at … Read more

Shenzhen Hosts International Conference to Advance Deep-Sea Science and Environmental Protection

by

Over 300 global experts, including scientists, academicians, and business leaders, gathered in Shenzhen for the International Conference on Deep Sea Science and Technology and the 2024 COMRA Annual Science Meeting. Held at the Shenzhen Convention and Exhibition Center in Futian District, the event focuses on sustainable methods for deep-sea exploration, conservation of fragile marine ecosystems, … Read more

Hong Kong Teen Arrested in HK$554,000 Phone Scam Targeting Elderly Victims

by

In Hong Kong, police recently detained a 14-year-old boy on suspicion of his involvement in a phone scam that defrauded three elderly women of HK$554,000 (about US$71,235). The victims, aged between 75 and 84, were deceived through a common “guess-who-I-am” scam. This method involves scammers posing as lawyers who inform victims that a family member … Read more

Shenzhou-19 Welcomes Youngest Crew to China Space Station for Key Lunar Experiments

by

China’s Space Station welcomed its youngest-ever crew on Wednesday, with the arrival of the Shenzhou-19 mission. Commander Cai Xuzhe, along with taikonauts Song Lingdong and Wang Haoze—both born in 1990—successfully docked with the space station shortly after their launch from Jiuquan Satellite Launch Center. This mission is significant not only for its youthful lineup but … Read more

Over 3,500 Global Exhibitors Expected at 26th China Hi-Tech Fair in Shenzhen

by

The 26th China Hi-Tech Fair (CHTF) is poised to host over 3,500 exhibitors from more than 100 countries and regions, organizers confirmed at a recent press conference. Scheduled for November 14-16 at the Shenzhen World Exhibition and Convention Center in Bao’an, this year’s event will span 400,000 square meters, drawing over 400,000 attendees, including more … Read more

Foreign Investors See Uptick in Consumer Spending and Eased Access to Capital in China Post-Stimulus

by

China’s recent economic stimulus efforts have created a cautiously optimistic environment for major foreign investors, with reports indicating a slight uptick in consumer spending, easier access to capital, and potential openings for broader structural changes, according to international business groups. Following China’s surge of stimulus measures, some American retailers are reporting an increase in spending … Read more