Apple’s key Chinese manufacturing partner Luxshare Precision Industry Co is set to gain control of an iPhone assembly site run by a Taiwanese rival, as the US tech giant fosters ties with mainland China-based suppliers to improve relations with Beijing. Luxshare is set to buy a 62.5 per cent stake in Pegatron Corp’s unit in Kunshan, China’s most affluent county in eastern Jiangsu province, for about 2.1 billion yuan (US$300 million), according to an exchange filing by the Taiwanese firm on Thursday. Taipei-based Pegatron currently assembles iPhones at its Kunshan…
Year: 2023
Caffeine boost: China’s rising coffee demand spurs cutthroat cafe competition
Data from the International Coffee Organization shows coffee consumption in China grew 15 per cent in the year-long season ended in September from the previous cycle to 3.08 million bags. 02:25 Cafe in Japan introduces vertical sleeping pods for customers in need of a power nap Cafe in Japan introduces vertical sleeping pods for customers in need of a power nap “The Chinese consumer is increasingly adopting Western lifestyles and coffee is obviously one of the beverages that represent that,” said Jason Yu, managing director for Greater China at market…
China to revive top science awards after 2-year suspension
“These rules further regulate the nomination process, for example, local governments are required to consult no fewer than five experts in the relevant fields before making nominations,” an expert on science and technology policy said. In the past, there was no such requirement but the key was whether the rules would be followed, he added, speaking on condition of anonymity due to the sensitivity of the issue. 03:16 Nobel Medicine Prize given to 2 scientists for mRNA research that enabled Covid vaccine Nobel Medicine Prize given to 2 scientists for…
Openness needed for Xi Jinping’s goal to bring 50,000 young Americans to China: talent expert
Beijing should create an atmosphere of openness if it wants to attract many more young Americans to the country, according to a veteran expert on China’s talent recruitment and retention efforts. David Zweig, professor emeritus of the social science division at the Hong Kong University of Science and Technology, said China’s plan to have 50,000 young Americans go to China over the next five years, was a “good goal” but also would be a “challenge”. “It’s important that China creates an atmosphere that says to these young people you’re welcome…
China’s Huawei claims to have broken ‘the siege’ with strong sales
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chinese telecoms company Huawei has reported its highest revenues in three years after weathering the “storm” of a barrage of sanctions from Washington. The world’s biggest telecoms equipment producer as well as a top smartphone manufacturer said on Friday that full-year sales would be more than Rmb700bn ($99bn) this year, up 9 per cent from Rmb642.3bn in 2022. The company did not provide more detailed earnings results. Shenzhen-based Huawei, led…
Hong Kong Stocks Plunge to Losses for 4th Straight Year
This summer, when Hong Kong’s stock market rout seemed to have no end in sight, the city’s financial chief, Paul Chan, jumped into action, creating a task force to inject confidence into a market that was being pummeled by global investors wary of China. Hong Kong cut taxes on trading and Mr. Chan went on a roadshow to Europe and the United States, promising measures to “let investors feel optimistic about the outlook.” Investors were anything but sanguine, however, and the city’s Hang Seng Exchange is among the world’s worst-performing…
Hong Kong Activist Flees to Britain, Citing Police Pressure
A political activist in Hong Kong previously imprisoned under its sweeping national security law said he had fled to Britain and would apply for asylum there, becoming the second high-profile dissident this month to announce going into exile from the territory. The activist, Tony Chung, revealed on Thursday that he had arrived in Britain, and, in several social media posts, said that he had decided to leave Hong Kong after enduring oppressive restrictions, pressure to act as informant and severe stress after his release from prison in June. Mr. Chung,…
Nothing to sneeze at: Chinese researchers hope their nasal mask catches a virus before you do
Many infectious diseases thrive through airborne transmission in the form of tiny droplets that can easily enter the respiratory tract. In the paper, the scientists said they set out to create a preventive treatment capable of intercepting and inactivating viral particles at the point of entry. The spray mask consists of a positively charged thermosensitive hydrogel that intercepts the negatively charged viral droplets when they are inhaled through the nose. Once the viral aerosols are trapped in the gel, the virus is inactivated by microsized vesicles – tiny cellular-derived structures…
‘Fighting spirit’: Xi Jinping reveals China’s push for global power after rare closed-door meeting on foreign policy
In his speech, Xi touted China as a “responsible” global power rising under his head-of-state diplomacy since he took power in 2012 and said China had overcome “various difficulties and challenges” in its external work in the past decade. But he also warned of “high winds and choppy waters” ahead because the world had “entered a new period of turbulence and transformation” – a thinly veiled reference to Beijing’s feud with the US and its allies over ideological and geopolitical differences. Chinese President Xi Jinping speaks at the Central Conference…
Hong Kong Democracy Advocate Seeks Asylum in Britain
HONG KONG — Hong Kong democracy activist Tony Chung, who once called for the city’s independence and was the youngest person to be jailed under its national security law, said on Friday he would seek asylum in the United Kingdom. Beijing imposed the national security law on Hong Kong in 2020 after months of huge and often violent pro-democracy protests in the former British colony. In 2021, Chung, then 20, became the youngest person to be jailed under the security law after he pleaded guilty to “secession” and was sentenced…