Xiaomi, China’s leading smartphone company, saw its cellphone shipments shrink in the first quarter Q1 of this year, especially in India and Europe—two pillars of its overseas revenue. According to Xiaomi’s financial report released on May 19, the company shipped 38.5 million smartphones in Q1, down 10.9 million units or 22 percent compared to the…
China-Based Phone Maker Xiaomi Sees Shipments to Key Markets of India, Europe Shrink in Q1
May 28, 2022
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ChinaChina Business & EconomyEurope-China RelationsHuaweiIndiaInternational RelationsSpecial TopicsTech CompetitionWorldXiaomi
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China Spent More on Mass COVID-19 Testing Than on Its Military: Research
May 28, 2022
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bondsCCP VirusChinaChina Business & EconomyChinese RegimeINSIDE CHINAmass testingmedical insurancemilitary spendingSocial Issues
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Recent research results from China’s financial securities firms show that the cost of the Chinese regime’s mass COVID-19 nucleic acid testing exceeded its military spending in 2021, and that it will drain China’s national medical insurance funds within three and a half years if citizens are tested every two days as required by the regime….
China’s Industrial Profits Slump in April as COVID-19 Curbs Squeeze Firms
May 28, 2022
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Business & EconomyChinaChina Business & Economychina's industrial firmsCOVID-19economyLi Keqiangraw material prices
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BEIJING—Profits at China’s industrial firms fell at their fastest pace in two years in April as high raw material prices and supply chain chaos caused by COVID-19 curbs squeezed margins and disrupted factory activity. Profits shrank 8.5 percent from a year earlier, swinging from a 12.2 percent gain in March, according to Reuters’ calculations based on…
Toyota Cuts June Output Plan Again as China Lockdowns Bite
May 28, 2022
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Business & EconomyBusinesses in COVID-19ChinaChina Business & EconomyCompaniessemiconductorToyota Motor Corp
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TOKYO—Toyota Motor Corp. on Friday cut its global production plan for June for the second time this week and signaled its full-year output estimate could be lowered, highlighting the pain from the supply chain crunch and China lockdown. Global automakers’ production has been hit by the microchip shortage and also by China’s COVID-19 lockdowns. The…
China Holds Unprecedented Meeting as ‘Zero-COVID’ Crushes Economy
May 26, 2022
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Asia & PacificBusiness & EconomyCCP VirusChinaChina Business & EconomyCOVID-19economyLi KeqiangSpecial TopicsWorldzero-COVID
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China’s premier Li Keqiang on May 25 presided over an meeting of over 100,000 officials to issue a stark warning about the “grim challenges” ahead for the country’s economy that has been battered by the communist regime’s COVID-19 policies. In a teleconference with representatives from provincial, city, and county levels of government, Li warned about…
Data Shows Small and Medium-Sized Enterprises in China on the Decline
May 26, 2022
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ChinaChina Business & Economydynamic zero-COVIDprivate businessesprivate sectorSmall and medium enterprises
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Small and medium-sized businesses in China have suffered dearly under the country’s dynamic zero-COVID policy amid an economic downturn. Since February 2022, China’s Small and Medium Enterprise Development Index (SMEDI) has declined for three consecutive months. “Nearly all customer flow, logistical flow, and cash flow [for small and medium-sized private businesses] have stranded,” Mr. Ma,…
Chinese Companies Seize Indonesian Nickel Resources Amid New Energy Battery Opportunities
The recent big investments Chinese companies are making in Indonesian nickel mines are attracting renewed attention. China’s CNGR Advanced Materials Co Ltd. announced on May 19 that it will expand its nickel matte business in Indonesia, partnering with Singapore’s RIGQUEZA International Co., LTD. A total investment of $1.26 billion will be put in a production…
UK Government to Probe Chinese Takeover of UK’s Largest Microchip Factory
May 26, 2022
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Business & EconomyChinaChina Business & EconomyChineseCompaniesEurope-China RelationsInternational RelationsmicrochiptechnologyUKWorld
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The acquisition of Britain’s biggest microchip factory by a Chinese-owned technology company is to face a full national security assessment. After weeks of pressure from politicians and concerns issued from Washington, the UK’s Business Secretary Kwasi Kwarteng confirmed the government would examine whether the takeover of Newport Wafer Fab by Nexperia, a subsidiary of the…
Pony Ma’s Online Comment Ignites Discussion in Chinese Social Media
Chinese social media Weibo went wild when Pony Ma, Chinese tech heavyweight billionaire, posted a comment online. China watchers believe the staggered Chinese economy has finally pushed the famous low-profile Tencent Holdings CEO to voice his frustration. Ma commented, “This is a really vivid description,” quoting a partial statement of an online opinion piece which…
Foreign Investors Flip Script, Exit Chinese Bond Market
Commentary Large net capital flows out of China have officially become a trend as Chinese fixed-income securities have lost their luster to foreign investors. Capital drawdowns out of China’s interbank bond market exacerbated and continued for the third straight month in April. Most experts blame the shift on a declining yuan currency and lower yield…
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