The founder of Chinese carmaker Geely, Li Shufu, wants to get into the smartphone business. According to a memo obtained by Reuters, Li and other investors plan to invest around $1.5 billion in the venture. As early as 2023, the newly formed company Xingji Shidai is expected to launch its first premium smartphone and sell […]
Cecilia Zhong has been appointed executive director at the US trading platform Interactive Brokers. Zhong will focus on business development for Greater China in the newly created position. She joins Interactive Brokers from China Zhuhai Bluestone Asset Management. Previously, she worked at Guojin Metal Technology for more than two years.James Wei is the newly appointed […]
Two senior executives of insolvent Chinese aviation and tourism conglomerate HNA Group have been arrested. This was announced by HNA – to which the airline Hainan Airlines belongs – on its official WeChat account. It said those detained were chief executive Tan Xiangdong and board chairman Chen Feng. HNA gave no details on the allegations. […]
China continues to ramp up the pressure on cryptocurrencies. Beijing declared all activities around cyber currencies illegal on Friday. Foreign crypto exchanges were banned from providing any services to customers in China. Offenders are to be severely punished: Transactions related to digital currencies are “illegal financial activities”, and suspects will face criminal investigations, a statement […]
The Chinese state shipping company Cosco is taking a stake of around 35 percent in “Hamburger Hafen und Logistik AG” (HHLA), as the port operator recently announced. HHLA had already been negotiating with Cocso about a stake in the Tollerort Container Terminal (CTT) in Hamburg since June (China.Table reported). Cosco is paying €100 million for […]
At the latest, the Covid pandemic has shown how fragile the global supply chains for medicines are in a crisis. German Health Minister Jens Spahn has now called for more independence from China in the area of drug production, Deutschlandfunk reported. Germany is too dependent on supplies from the People’s Republic, Spahn said at yesterday’s […]
Judith Sun is taking over responsibility for the Chinese market at Hugo Boss. She will take up her new position on October 1st. Sun was previously Managing Director at jewelry brand Swarovski in China and prior to that held positions at Adidas, Levi’s and other textile brands in China. She is the first female managing […]
U.S. aircraft maker Boeing expects Chinese airlines will need 8,700 new aircraft for a total of $1.47 trillion by 2040. “The rapid recovery of Chinese domestic traffic during the pandemic speaks to the market’s underlying strength and resilience,” Boeing’s China marketing managing director for commercial airplanes, Richard Wynne, according to Bloomberg. Previously, Boeing had predicted […]
To curb global climate change, state and party leader Xi Jinping pledged during his video message at the 76th UN General Assembly yesterday that his nation will no longer fund coal projects abroad. Prior to the speech, the announcement was one of the top 5 news stories at the Global Times, the mouthpiece of the […]
