The Beijing municipal government has received approval from the State Council to grant foreign investors limited access to virtual private networks (VPNs). Foreign telecom companies will be allowed to set up joint ventures with Chinese firms to offer VPN services exclusively to foreign companies. These offers will be limited to companies operating in Beijing. In […]
Who doesn’t love a gentle massage? But good masseurs are rare. Visitors recently had the chance to try out one possible solution at the Import-Export Fair in Guangzhou: the intelligent massage chair. Our first impression from afar: real relaxation looks different.
The Olympic flame for the Winter Games in Beijing was lit in ancient Olympia on Monday. But the ceremony did not remain peaceful. Activists protested for a free Tibet on the sidelines of the ceremony. They were arrested by the Greek police. Photographers captured the protest; the protest action cannot be seen in the official […]
China’s economic upswing is losing momentum. In the third quarter, its gross domestic product grew by only 4.9 percent compared to the same period last year. This is shown by the data of the Beijing National Bureau of Statistics (NBC) on Monday. In the first quarter, the GDP of the second-largest economy grew by 18.3 […]
Kevin Sneader, the former head of management consulting firm McKinsey & Co, will become co-president for Asia Pacific at Goldman Sachs. Sneader, who was head of McKinsey in Asia since 2018, has no banking experience, but being co-president will be more about building a network anyway. Since joining McKinsey in 1989, he has worked for […]
Alibaba Group Holding Ltd. is set to launch its first custom-designed processor chip to power its cloud computing business, Caixin reported. According to the report, Alibaba wants to better prepare itself for competition with Amazon and Huawei with its new chip, which will be manufactured in the 5-nanometer process.Alibaba’s new chip, based on the architecture […]
China’s authorities have allowed US investment bank Goldman Sachs to take full control of its securities business in the People’s Republic. Goldman now seeks to acquire the remaining shares in the joint venture Goldman Sachs Gao Hua Securities Company Ltd (GSGH). This was reported by Wall Street Journal. The financial institution had already filed for […]
Over the last 20 years, a number of thriving technology companies have emerged in China. This has invited much speculation about the country’s scientific and technological prowess, and about its ability to innovate. Some argue that China is already nipping at America’s heels in these domains, and has become a world leader in some sectors. […]
Chinese President Xi Jinping and his Russian counterpart Vladimir Putin met via video link for the second time in a month on Monday. The leaders issued a joint statement opposing “interference in the internal affairs of other countries under the guise of democracy and human rights” and “unilateral sanctions”, state media reported. Xi and Putin […]
Chinese carmaker Great Wall Motor (GWM) is tackling the domestic market with plans to sell significantly more cars in China in the future – especially with alternative powertrain options. From 2025, the carmaker, known for SUVs and pickups, aims to “sell four million vehicles a year and achieve sales of ¥600 billion (€78 billion),” GWM […]
