Chinese chip designers reduce processing speed to evade US curbs

Insights 11/11/22, 04:41

According to the Financial Times, Chinese chip designers are looking to edge through U.S. sanctions with slower processor speeds. Contract chipmaker Taiwan Semiconductor Manufacturing Company Limited (TSMC) has stopped production for Chinese clients after Washington rolled out its curbs. Sources said the company is waiting for the designers, including Alibaba and ...

Chinese banks priced similarly to US banks during 2008 financial crisis

China 11/11/22, 04:39

Outlook about China’s banking sector has dropped to an unprecedented point, reaching the levels that U.S. banks traded at during the 2008 financial crisis. According to Bloomberg, valuations of the four biggest Chinese banks have reached a record low, about 0.4 of their book value in the Hong Kong stock exchange, ...

Customers wait longer for iPhone14; Foxconn faces labor shortage problem

Insights 11/11/22, 04:38

Apple's largest production facility in the world, Zhengzhou Foxconn, is facing production capacity problems due to the impact of China’s pandemic policies. On November 7, the WeChat public account of ”Foxconn iDPBG Zhengzhou Recruitment" issued a pre-recruitment announcement. The announcement said that due to the company's business needs, it is now hiring. ...

‘New Long March’: spreading in Chinese business world

Weapon/Army 11/11/22, 04:19

The 20th National Congress has become the last straw for many as they flee the mainland. At present, xin changzheng lushang , or “the new long march,” is spreading widely in the Chinese business world. The term is derived from the song “On the New Long March Road,” popular during the ...

Beijing announces 30 infected cases right after organizing a marathon

Social problem 11/11/22, 04:17

After a three-year hiatus, on November 6, Beijing held a large-scale marathon in Tiananmen Square with 30,000 participants. The shared videos show the massive crowd participating. Some of the participants wore masks, while some did not. When the competition started, many people took off their masks to run. However, unfortunately, on that ...

Receivers sell Evergrande’s undeveloped land seized in Hong Kong

Insights 11/11/22, 04:16

Debt-laden developer giant China Evergrande Group continues to see its assets being put on tender sale to settle its financial obligations. Evergrande issued a filing to the Hong Kong stock exchange on November 6. The group said that its receivers sold a plot of undeveloped land for residential development in Yuen ...

Severe Australian health insurer cyberattack, Medibank won’t pay ransom

Insights 11/11/22, 04:14

If the hack of Optus, Australia’s second-largest telecommunications company, in September wasn’t a wake-up call for the country’s cyber-attack threat then the recent Medibank hack should be.  Nearly 10 million customers’ data has been breached including names, date of birth, addresses, phone numbers, email addresses, and health conditions. Other personal details ...

China deepens its financial foothold in Latin America

Social problem 11/11/22, 04:09

China's financial presence in Latin America is growing, according to the latest data. Chinese capital and corporate brands are pouring into South America more than ever. It happened after a series of crises in South America, along with the U.S. refusing to accept it as an alternative to the problematic Asia-centric ...

Hu Jintao case: Japanese media reveals the inside story

Insights 11/10/22, 15:27

While the fact of former CCP leader Hu Jintao being forced out of the 20th National Congress in front of the domestic and foreign media was gradually fading. However, Japanese media outlet Xikan Fuji published an in-depth investigation and interviewed senior reporter Kenji Minemura on November 9, which revealed more ...

Dabai beat residents, 7 people held in administrative detention, people disgruntled

Disasters 11/10/22, 14:56

Violent incidents arising from the pandemic prevention policy in China continue to occur. On November 7, there was an incident of Dabai (anti-pandemic staff wearing a white protective suit) beating residents in Lanshan district, Linyi city, Shandong province. Officials said that there were conflicts between community anti-pandemic workers and residents, and seven ...