Biden And Xi Jinping Speak For The First Time In Months Amid Fraying U.S.-China Ties

President Biden held a phone call with Chinese leader Xi Jinping on Thursday, only their second since Biden took office, in an attempt initiated by the U.S. to stabilize the bilateral relationship and coax Beijing into more substantive engagement amid deepening competition. The world’s two largest economies have been locked in a standoff fueled by… Continue reading Biden And Xi Jinping Speak For The First Time In Months Amid Fraying U.S.-China Ties

Biden, Xi discuss avoiding confrontation in second phone call of new U.S. administration

BEIJING — Chinese President Xi Jinping and U.S. President Joe Biden spoke for the first time since February on Friday. It marked the second call between the leaders since Biden took office in January, as tensions between the world’s two largest economies simmer. “President Biden underscored the United States’ enduring interest in peace, stability, and… Continue reading Biden, Xi discuss avoiding confrontation in second phone call of new U.S. administration

Xiaomi officially registers its electric vehicle business and says it has 300 staff

GUANGZHOU, China — Chinese smartphone giant Xiaomi has officially registered its electric vehicle business and said the division has entered a “substantial development phase,” the company said. The name of the subsidiary is Xiaomi EV, Inc. and it was set up with a previously announced registered capital of 10 billion yuan ($1.55 billion). In March,… Continue reading Xiaomi officially registers its electric vehicle business and says it has 300 staff

China’s regulatory crackdown has wiped billions off tech stocks — here are the risks ahead

GUANGZHOU, China — Chinese authorities have introduced a slew of legislation in the past few months, largely aimed at the tech sector — a move that’s spooked investors and wiped out billions of dollars in value from the country’s internet giants. The legislative onslaught began in November last year when the huge initial public offering… Continue reading China’s regulatory crackdown has wiped billions off tech stocks — here are the risks ahead

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Chinese firm behind the purchase of the UK’s largest chip plant warns deal is at risk

The Chinese firm behind the purchase of Britain’s largest chip manufacturing facility earlier this summer has admitted that the acquisition could be unwound as the U.K. government reviews the takeover. Shanghai-headquartered Wingtech Technologies warned shareholders in a note this week that “domestic and foreign industry policies” present a risk to the takeover of Newport Wafer… Continue reading Chinese firm behind the purchase of the UK’s largest chip plant warns deal is at risk

China’s Xiaomi overtook Samsung and Apple in June smartphones sales

Chinese smartphone maker Xiaomi sold more phones in June than its rivals Samsung and Apple, according to research firm Counterpoint. Xiaomi’s sales grew 26% compared to the previous month, giving the company a 17.1% share of the total number of smartphones sold globally in June, Counterpoint said in a Thursday note. It added that Samsung… Continue reading China’s Xiaomi overtook Samsung and Apple in June smartphones sales

China’s harsh education crackdown sends parents and businesses scrambling

The Chinese government’s sudden crackdown on after-school education companies is raising costs for many parents and throwing millions of jobs into uncertainty. In a country where parents prize a good education — and good grades play an outsized role in determining career opportunities — tens of millions of students across China drown in after-school tutoring… Continue reading China’s harsh education crackdown sends parents and businesses scrambling

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Chinese augmented reality glasses maker Nreal looks to go public within 5 years, CEO says

Very exciting – I think its more like ’06, ’07 of the smartphone business,” Chi Xu, CEO of Nreal said. “We see a lot of good opportunities and, definitely, we’re thinking the market size is going to be massive. And we have this opportunity and we want to take this to the final end.” He… Continue reading Chinese augmented reality glasses maker Nreal looks to go public within 5 years, CEO says

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Consortium prepares bid to buy the UK’s biggest chip plant back off Chinese-owned Nexperia

LONDON – A consortium is raising money from banks and private equity investors to fund a potential bid for silicon wafer manufacturer Newport Wafer Fab, according to a person familiar with the situation who asked to remain anonymous due to the nature of the discussions. NWF is currently being acquired by Chinese-owned Nexperia but the… Continue reading Consortium prepares bid to buy the UK’s biggest chip plant back off Chinese-owned Nexperia

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U.S.-China meeting off to a tense start as Beijing official says relations are in a ‘stalemate’

BEIJING — Another high-level meeting between U.S. and Chinese officials — this time in the Chinese city of Tianjin, just outside of Beijing — began with criticism. Chinese Vice Foreign Minister Xie Feng said during talks Monday with U.S. Deputy Secretary of State Wendy Sherman that the two countries’ relationship “is now in a stalemate… Continue reading U.S.-China meeting off to a tense start as Beijing official says relations are in a ‘stalemate’