China’s first Mars mission launches
China launched its first mission to Mars today, just one part of the country’s space program that has interplanetary ambitions.
Business & Technology
Chinese companies going global. Global companies ongoing efforts to capitalize on the size and growth of the China market. State-owned enterprises. Policy-based state investment. Startup unicorns with Chinese characteristics. There is no shortage of business stories to tell in China.
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Xi Jinping says companies must be more patriotic
Supreme leader Xi Jinping gave a speech in which he provided mixed messages, urging companies to be both more patriotic and more innovative, and promising “deep reform and opening up.”
China’s box office rakes in over 3 million yuan on first day of cinema reopenings
On Monday, most movie theaters across China were allowed to open their doors, after being shuttered for roughly six months because of the COVID-19 pandemic.
Will COVID-19 forge a new generation of gritty Chinese entrepreneurs?
Will a generation of Chinese businesspeople, hardened by the economic and social shocks of COVID-19, change the way business is done in China? New research suggests that some Chinese entrepreneurs may emerge from the crisis with new experiences that will propel them to later success.
Burger King takes a hit from consumer rights TV show
Burger King, General Motors, and popular Chinese news and video app Qutoutiao were all criticized by state broadcaster CCTV’s annual consumer rights show, which often makes a dent in both foreign and domestic companies’ bottom lines.
China to reopen movie theaters next week, with strings attached
After an earlier false start, China is set to reopen movie theaters starting on July 20. They will be limited to 30% seating capacity, and half the number of screenings as usual.
China’s biggest chip maker set for massive IPO
China’s largest silicon chip maker, SMIC, is essential to China’s quest to become technologically independent from the U.S. It is set to raise an eye-popping sum of money with a new listing on Shanghai’s Star Market on July 16.
U.K. bans Huawei 5G equipment in reversal of January decision
The British government has reversed its earlier decision to open a narrow door to 5G technology from Chinese telecom giant Huawei. By the end of 2020, purchases of Huawei 5G equipment will be banned, and all of the company’s advanced technology will be stripped from British networks by the end of 2027.
Apple supplier Foxconn to invest $1 billion in India, another step away from China
Apple’s most important supplier is investing big in India as the U.S.-China trade war stresses supply chains.