A new military drone
Top business and technology news for February 28, 2017. Part of the daily SupChina news roundup "Atheism and religion."
China says it has received its largest foreign drone order: Xinhua / Reuters
Xinhua News Agency reports that China has received its largest foreign order from an undisclosed buyer for a new military drone. The Wing Loong II, which conducted its maiden flight from an airport in western China on Monday, has a wingspan of more than 65 feet, and is a medium-altitude, long-distance unmanned aerial vehicle with both reconnaissance and strike capabilities. For more on drones, high-tech tanks, and a weaponized laser that can cut through an armored vehicle, see this series of photos from Chinese exhibitors at an arms fair in Dubai.
China’s new multibillion-dollar target market: LGBT youth / Foreign Policy (paywall)
In recent years, many technology firms have launched campaigns to support same-sex partnerships and target the “pink yuan.” In the run-up to this year’s Lunar New Year, the Chinese mobile phone brand Vivo released a supportive message urging LGBT Chinese to bring their partners home to meet their families. In 2015, ecommerce giant Alibaba ran a contest to award 10 same-sex couples free weddings in Los Angeles. LGBT Chinese spend about $300 billion annually; moreover, 56 percent of LGBT Chinese men and 62 percent of LGBT Chinese women said that the most important factor influencing their purchasing decisions is whether the company has LGBT-friendly policies and regulations, according to a 2016 report. Earlier this month, we noted that a state-owned media company had invested in the gay dating and chat app Blued.
- In China, public-private partnerships are really public-public / Bloomberg
- China capital crackdown threatens wave of overseas buyouts / Financial Times (paywall)
- China’s ‘glass king’ to complete U.S. expansion despite Trump tensions / Reuters
- China opens currency derivatives to lure overseas bond investors / Bloomberg
- China’s leaders still banking on ‘irreplaceable’ central bank chief / SCMP
- Huawei staff fear cuts as smartphone profits disappoint / Reuters
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