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Chinese tech shares see strong NASDAQ performance amid surging domestic stocks


As China's A shares continue to roar, the latest Chinese stocks on NASDAQ also rocketed on Wednesday.


Huawei global staff number reaches record high in 2019, with 49% R&D members

Huawei's total number of employees worldwide reached a record high of 194,000 as of the end of 2019, of which 96,000 were research and development members, accounting for 49 percent of its total staff, a Huawei report showed.
Source: Global Times | 2020/7/8 22:28:40

Ant Financial denies seeking Hong Kong IPO

Alibaba's financial division Ant Financial denied some overseas reports that it would seek a listing on the Hong Kong stock market as soon as this year.
Source: Global Times | 2020/7/8 21:43:40

Chinese FM spokesperson challenges Trump's threat to ban TikTok in US

China's Foreign Ministry said certain politicians in the US should give up their prejudice against Chinese companies in response to US President Donald Trump's comments over a potential ban of popular short video app TikTok, which is owned by China's ByteDance Ltd.
Source: Global Times | 2020/7/8 21:03:40

Cloud providers gain impetus, boosted by surging service demand

Chinese public cloud service providers represented by bellwether Alibaba Cloud and Tencent Cloud have witnessed quick growth in their cloud services triggered by surging demand for remote education and working due to the COVID-19 pandemic, and their competitiveness in global markets has ramped up.
Source: Global Times | 2020/7/8 20:08:40

Chinese consumers turn to duty free as outbound tourism halted

Chinese consumers have been embarking on a new shopping spree, but without the bother of having to fly overseas to buy luxury goods.
Source: Global Times | 2020/7/8 19:53:40

Chinese materials indispensible to Indian Army's armor equipment despite boycott campaign

It may come as a surprise to many that amid the current fanfare of India's "boycott China" campaign and other animosity toward Chinese goods and companies, Indian Defense Minister Rajnath Singh has admitted to the country's parliament that there was "no embargo" on imports of raw materials from China for the manufacturing of protective jackets for the army.
Source: Global Times | 2020/7/8 19:43:40

Auto sales extend recovery streak in June

Car sales in China continued to recover in June, extending their recovery streak to a fourth consecutive month, industry data showed on Wednesday.
Source: Global Times | 2020/7/8 17:53:40

Housing market rises in certain parts of China, but insiders worry about potential capital distraction amid stock frenzy

As the coronavirus has waned in China, the country's housing market has warmed. Surges in housing transactions in certain parts of China have pushed local governments to roll out tightening policies and issue warnings against panic buying.
Source: Global Times | 2020/7/8 15:58:40

China's vice foreign minister stresses trend of China-US cooperation

Nothing can stop the general trend of China-US cooperation, and a decoupling would be impractical and benefit no one in a world where globalization is the order of life, China's Vice Foreign Minister Le Yucheng said on Wednesday.
Source: Global Times | 2020/7/8 15:28:40

Blue Orca shorts Chinese infant milk formula company Feihe

Short seller Blue Orca Capital on Wednesday said it is shorting Chinese dairy company Feihe over inflating its revenue. Feihe has issued a strong refute in response shortly after on Wednesday morning.
Source: Global Times | 2020/7/8 13:35:14

Huawei registers trademarks for HarmonyOS

Huawei has recently filed a number of trademarks related to HarmonyOS in China, giving rise to industry speculation that the self-developed operating system (OS) could be applied to new products the firm will release this year.
Source: Global Times | 2020/7/8 11:57:45

China's first aircraft with homegrown high-speed satellite internet system makes maiden flight

China's first aircraft with a homegrown high-speed satellite internet system successfully completed its maiden flight on Tuesday, according to media reports. Passengers onboard could access internet services at speeds higher than 100 megabytes at a height over 10,000 meters.
Source: Global Times | 2020/7/8 9:48:41

India should treat Chinese companies as valuable contributors not push them out: experts

Chinese investor confidence in the India's market is being harmed by that government's tough measures targeting Chinese businesses, and will hit India's economy hard considering global investment has been scarce amid the COVID-19 outbreak, Chinese businesspeople in the country say.
Source: Globaltimes.cn | 2020/7/8 2:33:29