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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.


Coronavirus strikes down global M&A as companies keep their distance

Global M&A activity tumbled to its lowest level in more than a decade in the second quarter, according to data provider Refinitiv, as companies gave up on expansion plans to focus on protecting their balance sheets and employees in the wake of the coronavirus outbreak.
Source: Reuters-Global Times | 2020/7/2 19:48:41

China's domestic aviation market sees steady recovery

China's domestic aviation market is taking off on a steady recovery amid nationwide efforts to resume work, yet the situation of overseas flights remains gloomy, industry data showed.
Source: Global Times | 2020/7/2 18:58:40

Caution over food imports to continue for a while: experts

A strict customs inspection over imported food products will continue for a while at China's ports as more cluster infection cases are emerging in food processing and packaging plants abroad.
Source: Global Times | 2020/7/2 18:38:41

China's A-share market rallying, buoyed by quick recovery, financial sector reform

China's A-share market rally gained steam on Thursday, with the benchmark Shanghai Composite Stock Index surging 2.13 percent to close at above 3,090 points on hopes that China's economy is recovering quickly, and a reported plan to strengthen home-grown investment banking houses is underway.
Source: Global Times | 2020/7/2 17:56:15

China doesn't have restrictive measures for Indian products: MOFCOM

China doesn't have any restrictive or discriminatory measures for Indian products and services, the Chinese Ministry of Commerce (MOFCOM) said on Thursday, urging India to implement a consensus reached by leaders from both sides to promote regional development.
Source: Global Times | 2020/7/2 16:45:03

China's last BDS satellite enters long-term operation mode

The newly launched and final satellite of China's BeiDou Navigation Satellite System (BDS) successfully entered long-term operation mode on July 1, announced the Xi'an Satellite Control Center.
Source: Xinhua-Global Times | 2020/7/2 16:33:40

China opposes US sanctions and interference in HK over national security law: MOFCOM

China strongly opposes US sanctions on the Hong Kong Special Administrative Region (SAR), as national security is a domestic matter and not subject to foreign interference, the Ministry of Commerce (MOFCOM) said on Thursday.
Source: Global Times | 2020/7/2 16:28:40

Google defends data dominance

Alphabet Inc's Google has upended plans by European media companies to block it from harvesting readers' data and slash some of its dominance in online advertising, seven people involved in the talks said this month.
Source: Global Times - Reuters | 2020/7/2 16:23:40

China prepares for large-scale production of COVID-19 vaccines

Chinese officials have urged vaccine production companies to accelerate the research and development of COVID-19 vaccines and establish a full industrial chain to prepare for large-scale production.
Source: Global Times | 2020/7/2 14:33:40

LeTV founder Jia Yueting announces personal bankruptcy

Heavily indebted businessman Jia Yueting, founder of Leshi Internet Formation and Technology Corp (LeTV) and Faraday Future (FF), announced on Thursday that a personal bankruptcy reorganization process he applied for in the US was completed on June 26, and the reorganization plan has come into effect.
Source: Global Times | 2020/7/2 13:51:08

Pinduoduo founder steps down as CEO and reduces personal stake

Huang Zheng, founder of Chinese online shopping giant Pinduoduo, stepped down as chief executive on Wednesday and is succeeded by Chen Lei, co-founder of the company.
Source: Global Times | 2020/7/2 13:38:40

FedEx temporarily suspends shipments from China to India after DHL makes similar decision

Major freight transporter FedEx announced it will temporarily suspend the shipping of goods originating from China to India, following a similar decision from DHL on June 26.
Source: Global Times | 2020/7/2 12:19:41

China builds world's highest steel pylon in Tibet

On the 5,342-meter-high Kong Tang Lamu Mountain in Gyirong County, Southwest China's Tibet Autonomous Region, Chinese State Grid Corp finished construction of a 9AN40 steel pylon as part of a mega power project in the region on Tuesday, making it the highest pylon in the world.
Source: Global Times | 2020/7/2 11:18:41