Tag: China Business & Economy

TikTok Is a ‘Weaponized Espionage Application’: Expert

Chinese-owned video app TikTok could be covertly sending users’ passwords, credit card numbers, and other sensitive data to the Chinese Communist Party (CCP), according to one expert. “When you’re actually doing keystrokes, typing each letter, each number, those are being recorded back in China, and under supervision of the Chinese Communist Party,” Casey Fleming, CEO…


TikTok Is a ‘Weaponized Military Application’: Expert

Chinese-owned video app TikTok could be covertly sending users’ passwords, credit card numbers, and other sensitive data to the Chinese Communist Party (CCP), according to one expert. “When you’re actually doing keystrokes, typing each letter, each number, those are being recorded back in China, and under supervision of the Chinese Communist Party,” Casey Fleming, CEO…


Shanghai Court Conducts Hearing on Bruce Lee’s ‘Personality Rights’ Lawsuit

A Shanghai court recently conducted a hearing on the lawsuit against several locations of the Chinese fast-food chain Real Kungfu for infringement of Bruce Lee’s image. Bruce Lee Enterprises, LLC, headed by Shannon Lee, the daughter of Bruce Lee, filed the lawsuit in 2019 demanding that Real Kungfu immediately stop using the image of her father…


Japan Pledges $30 Billion to Support Africa’s Development Amid China’s Growing Influence

Japan has pledged to contribute $30 billion over three years to support Africa’s development and economy as it seeks to enhance cooperation with Africa amid China’s growing influence. “Japan aspires to be a partner growing together with Africa,” Prime Minister Fumio Kishida said in a virtual address to the 8th Tokyo International Conference on African…


China July Industrial Profits Down as COVID-19 Curbs, Heat Waves Hit

SHANGHAI—Profits at China’s industrial firms sank in July as fresh COVID-19 curbs dragged down demand and squeezed factory margins, while power shortages due to heat waves threatened production. Profits at China’s industrial firms fell 1.1 percent in January-July from a year earlier, wiping out the 1.0 percent growth logged during the first six months, the…


Chinese Regime Flip-Flops on COVID-19 Entry Requirements

China’s ruling communist party (CCP) has recently gone back and forth on its COVID-19 restrictions for entering the country. Just a day after announcing that it was lifting certain entry requirements, the regime stated that it was not loosening control. An expert believes the attempt to loosen restrictions is just for show ahead of the…


Huawei CEO Reportedly Urges Company to Stay Cash Flow Positive to ‘Survive’ Tough Economic Times

The founder of Chinese technology giant Huawei, has reportedly told the company to brace for “survival” amid the grim global economic outlook, according to a leaked internal memo. Once riding high on the wave of globalization, the successful telecom held one of the largest global shares on shipments of communications devices. However, the company has…


China’s New Energy Vehicle ‘Star’ Company Goes Bankrupt Despite Hefty Subsidies

Yangtze River Automobile Group, a Chinese electric vehicle (EV) manufacturer, recently declared bankruptcy. The company was once called Asia’s largest new energy vehicle manufacturer, and had acquired land in several big cities to build its manufacturing bases. However, it went bankrupt at a time when the EV industry is thriving. Insiders told Chinese media that…


Shipping Container Suppliers Abandon $987 Million Deal After US Probe

WASHINGTON —Global shipping container suppliers China International Marine Containers and Maersk Container Industry in a joint statement on Thursday said they have abandoned a merger plan, citing significant regulatory challenges. China International Marine Containers (CIMC) in September had agreed to buy the Danish shipping company AP Moeller —Maersk’s refrigerated containers maker for $987.3 million. The…


US Suspends 26 Chinese Flights in Retaliation for CCP COVID Policy

The United States will suspend 26 China-bound flights in September in response to the Chinese Communist Party’s (CCP) decision to suspend some U.S. carrier flights due to COVID-19 restrictions. The decision will affect flights to China from Los Angeles and New York City by Chinese carriers Xiamen, Air China, China Southern Airlines, and China Eastern…