BUSINESS >> Companies

China's Foreign Ministry demands explanation from FedEx over mishandling of Huawei package

China's Foreign Ministry on Monday called on US courier FedEx Corp to give a “reasonable” explanation and take responsibility for failing to deliver a Huawei smartphone to the US, while also urging the US to correct its “wrongful” actions against Chinese companies.
Source: Global Times | 2019/6/24 22:33:40

US move to force 5G production out of China could backfire

Chinese officials and industry representatives on Monday slammed the US government's plan to demand that vendors produce 5G devices outside of China, in an apparent move to force companies like Ericsson and Nokia to pick a side amid the China-US technology war that will break up the global supply chain.
Source: Global Times | 2019/6/24 22:18:41

10 senior CNPC executives face investigation this year: reports

Ten senior executives from energy giant China National Petroleum Corp (CNPC) have been put under investigation so far this year, and the investigation might involve some existing court cases, according to media reports on Sunday.
Source: Global Times | 2019/6/23 22:28:40

Work on Tesla plant accelerates

Work on Tesla's Gigafactory 3 in Shanghai is progressing rapidly, with installation of production equipment starting and the recruiting process for technicians in progress.
Source: Global Times | 2019/6/23 22:23:40

US block spurs tech independence drive by Chinese companies

The latest US blacklisting of the Chinese supercomputing companies will not reduce domestic technology companies' resolve to pursue innovation and research and development (R&D) as they strive to make up for shortcomings in certain segments to pursue further growth despite “irrational assaults” by Washington, industry insiders said.
Source: Global Times | 2019/6/23 21:48:39

Suning buys controlling stake in Carrefour China

Chinese retailer giant announced Sunday that it had signed an agreement to buy a controlling stake in Carrefour China.
Source: Xinhua | 2019/6/23 20:27:34

Chinese netizens not accepting FedEx's apology on not delivering Huawei phone

US FedEx Corp apologized for its "operational error" in not delivering a Huawei smartphone to a place in the US, according to a statement the company sent to the Global Times on Sunday.
Source: Global Times | 2019/6/23 16:18:40

China CITIC Bank launches first overseas branch in London

China CITIC Bank launched its first overseas branch in London on Friday.
Source: Xinhua | 2019/6/22 19:11:08

Chinese enterprises in Uganda pledge to conserve environment, fight illegal trade in wildlife

Chinese investors in Uganda on Friday signed a pledge committing to conserve biodiversity and show zero tolerance to wildlife trade and trafficking.
Source: Xinhua | 2019/6/22 9:59:22

American firms challenge govt agencies at hearings

Acting against the people's will by considering more tariffs in the escalating trade war will eventually make the US' own economy miserable.
Source: Global Times | 2019/6/21 21:58:40

Huawei unveils new chipset, ships 100 million smartphones globally

Huawei has not been deterred by US sanctions, as the company announced on Friday that it has shipped 100 million smartphones worldwide this year as of May 30 and unveiled the latest self-developed 7-nanometer (nm) chipset.
Source: Global Times | 2019/6/21 21:24:15

Chinese-Lao joint venture launches health project in hilly central Laos

The Namphay Power Co., Ltd., a joint venture by China's Norinco International Cooperation Ltd and Electricite Du Lao (EDL), has been launching a health project in Xaysomboun Province of hilly central Laos in the past weeks.
Source: Xinhua | 2019/6/21 19:35:43

Chinese SOEs report solid profit growth in Jan-May

BEIJING, June 21 (Xinhua) -- Profits of Chinese state-owned enterprises (SOEs) grew steadily in the first five months of 2019, official data showed Friday.
Source: Xinhua | 2019/6/21 19:33:49

China restates opposition to US suppression on Chinese firms

China on Thursday expressed firm opposition to a US senator's legislation proposal targeting Chinese firms, saying it is wrong to use state power to suppress Chinese companies.
Source: Xinhua | 2019/6/20 21:26:54

Yiwu and Alibaba explore new trade paths

Yiwu, one of the top choices among overseas traders to source small commodities in China, is seeking new trade channels in partnership with domestic e-commerce giant Alibaba to boost online trade.
Source: Global Times | 2019/6/20 20:03:40

Shanghai company produces first indigenous general-purpose 3.0GHz CPU

The first indigenous general-purpose central processing unit (CPU) with a clock speed of 3.0GHz was released by Shanghai Zhaoxin Semiconductor Co on Wednesday, marking a major breakthrough in the country's semiconductor industry.
Source: Global Times | 2019/6/20 19:58:41

Huawei's undersea cable project moves forward in SE Asia

Despite security concerns raised by the US and its major allies regarding Huawei's undersea cable projects, the Chinese company is welcomed by Southeast Asian countries and it will continue to move forward in its undersea cable business, which will help boost the local ICT industry.
Source: Global Times | 2019/6/20 19:48:41

US-listed Chinese firms trade mostly higher

US-listed Chinese companies traded mostly higher on Wednesday with eight of the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on an upbeat note.
Source: Xinhua | 2019/6/20 18:48:25