Fuyao Glass: Low taxes but troublesome workers in the U.S. – China’s latest business and technology news
Fuyao Glass — which makes windshields for cars — made the news in December last year for a $1 billion investment in the U.S. that included taking over a General Motors plant in Dayton, Ohio. The size of the investment was noteworthy, but comments from company chairman Cao Dewang 曹德旺 perhaps caused a greater stir: Cao explained his investment decision by saying the U.S. was a cheaper and better place to make glass than China because American taxes were much lower.
Now the New York Times says (paywall) that “tensions have arisen” at the Dayton plant “over safety, foreign control and culture clashes.” United Automobile Workers have launched what the Times calls an “acrimonious campaign” against Fuyao, while “a former manager who says he was let go in part because he is not Chinese” has filed a lawsuit.
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“China has built hundreds of dazzling new bridges, including the [world’s] longest and highest, but many have fostered debt and corruption.”
Chinese conglomerate threatens to sue fugitive tycoon Guo Wengui / SCMP
“The HNA Group issues its first public statement on allegations of shady dealings made by Guo, rejecting them as completely unfounded and false.”
Hong Kong cozies up to Shenzhen to create future tech giants / Bloomberg
“Officials in Hong Kong have an ambitious proposal to link [with Shenzhen] via a technology park on a disputed swamp by the border that aims to revitalize Hong Kong’s sagging economy and add fuel to Shenzhen’s nascent startup boom.”
With UK launch, China’s Mobike makes first foray outside Asia / Tech in Asia
The leading Chinese bike rental company Mobike will launch in the U.K.
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