Beijing is continuing its crackdown on the most powerful tech companies in the platform economy. The focus is currently on providers of financial services. After Ant Financial had to completely reorganize itself (China.Table reported), it is now the turn of its somewhat smaller competitors. The financial regulator has summoned representatives from Tencent (WeChat), ByteDance (TikTok), […]
The German-Chinese government consultations on Wednesday were about a broad “spectrum of cooperation”, as Chancellor Angela Merkel said at the start of the online meeting with head of government Li Keqiang. Both sides initially assured each other of their appreciation. But then it quickly became clear that the talks also had gruff passages. “China and […]
Today, Premier Li Keqiang, Chancellor Angela Merkel, and most of the ministers of their respective governments will be connected for video talks. This summit is called the “Sino-German Government Consultations” and is taking place for the sixth time. Merkel, as an experienced head of government, has been able to watch China grow in self-confidence in […]
When Angela Merkel appeared before the Bundestag’s Wirecard investigation committee on Friday, the subject was China. The MPs’ questions mainly concerned the Chancellery’s support for Wirecard’s entry into the Chinese market in September 2019, when the company planned to take over the small Chinese financial services provider Allscore and ramp it up to become a […]
The Bundestag investigative committee on the Wirecard scandal once again looked into the events surrounding the company’s planned market entry in China on Thursday. Wirecard had planned to buy the Chinese company Allscore in 2019. Allscore wanted to process payments in China and thus become a competitor to Alipay, but did not yet have the […]
The immunization campaign in Chile is running much more rapidly than in the EU, and there is also plenty of vaccines. Nevertheless, there is a new wave of COVID infections in Chile. That’s because the Chinese Sinovac agent being used doesn’t offer much protection after the first shot. Still, Chileans have reportedly been slacking on […]
Telecoms equipment maker Huawei sees dealing with US sanctions as mainly a race against time. The company confirmed it had bought up chips before the trade restrictions took effect in the market, which it has used to keep production going so far. “We expect that our new partners will be able to supply the chipsets […]
Anger is rising among employees of foreign companies in China over the planned removal of tax privileges for expatriates. At the end of this year, companies will no longer be able to pay benefits such as rent and school fees tax-free. In a recent survey, the US Chamber of Commerce (AmCham) in Shanghai is already […]
It has been a week now since the European Union and China imposed sanctions on each other. The EU has punished individuals and institutions related to the actions of the security apparatus in Xinjiang province. In return, the Chinese government has imposed sanctions on four European organizations and ten China-focused individuals. These are accused of […]
Search engine operator and AI developer Baidu has raised around €2.5 billion by issuing new share certificates. At the end of the first day of trading, the newly issued shares were exactly at the issue price on Tuesday morning. They were still worth HK$252. The result is considered disappointing. In 2019, valuations of Hong Kong’s […]
