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China continues to lead global new-energy sector with 207 companies in top 500

A total of 207 Chinese companies made the list of 2020 global top 500 new-energy enterprises this year, outnumbering the US' 69 companies in the second spot, and Japan's 54 companies in third, according to a report released by the China Energy Economy Research Institute at the 2020 Global Top 500 New-Energy Enterprises Summit on Friday.
Source: Global Times | 2020/11/28 3:11:44

China will carry out cooperation with Venezuela even if the situation changes: FM

China will carry out cooperation with Venezuela even if the situation changes, and such cooperation is based on mutual benefit, equal footing and commercial principles, and is in line with relevant laws, China's Foreign Ministry spokesperson Zhao Lijian said at a regular press briefing in Beijing on Friday.
Source: Global Times | 2020/11/27 17:43:40

Huawei founder Ren Zhengfei encourages sub-brand Honor to exceed Huawei

Founder and CEO of Huawei Ren Zhengfei said on Wednesday that its sub-brand Honor, which it recently sold is expected to resume production soon and encouraged Honor employees to surpass Huawei.
Source: Global Times | 2020/11/26 22:29:56

US-China relations unlikely to change fundamentally: report

One day after China formally acknowledged Joe Biden's win in the US presidential election, the American Chamber of Commerce in China (AmCham China) uploaded an earlier interview with former US Ambassador to China Max Baucus that shed light on what China-US relations will be like under President Biden.
Source: Global Times | 2020/11/26 22:20:10

Regional fair to get boost from RCEP

Representatives from countries attending the 17th China-ASEAN Expo (CAEXPO) see the just-signed Regional Comprehensive Economic Partnership (RCEP) deal as a fresh driver of trade and investment for the region, with a Chinese Foreign Ministry spokesperson hailing “golden decades” of trade ties between China and members of the Association of Southeast Asian Nations (ASEAN).
Source: Global Times | 2020/11/26 21:19:37

Tesla plans charger plant in Shanghai to facilitate growth: reports

Tesla plans to produce charging piles for electric vehicles in Shanghai as it seeks to expand its market share in China, following the establishment of its Gigafactory, according to media reports. Experts said that the expansion will support the growth of its Chinese business and stimulate sales of its new-energy vehicles.
Source: Global Times | 2020/11/26 20:08:40

Credit Suisse anticipates impairment on stake in York Capital Management

Credit Suisse expects to take a roughly $450 million impairment on alternative investment firm York Capital Management's retreat from its core hedge fund business, the Swiss bank said.
Source: Reuters - Global Times | 2020/11/26 19:28:40

Merger wave sweeps through Italy's banks

France's Credit Agricole offered to buy third-tier Italian lender Creval for 737 million euros ($875 million) on Monday, amid a wave of consolidation in Italy's banking sector.
Source: Global Times | 2020/11/26 19:18:40

Chinese firms in UK play important role in post-COVID recovery: City of London mayor

International cooperation will be key to a global economic recovery from the COVID-19 pandemic, and the City of London remain committed to supporting the Chinese business community in the world's leading financial center, William Russell, lord mayor of the City of London, said Wednesday.
Source: Xinhua | 2020/11/26 13:59:29

ByteDance's future in the US at a critical stage with new seven-day extension of TikTok sale order

The US has reportedly granted ByteDance – the parent company of TikTok – a new seven-day extension of an order that directs the Chinese tech firm to divest its short video-sharing app.
Source: Global Times | 2020/11/26 11:02:50

New UK ban on Huawei 'hits trust'

The UK's latest move to act in line with the US in cracking down on Chinese companies provoked Beijing on Wednesday, with the Chinese Foreign Ministry making a rare comment that it will “negatively impact the mutual trust basis of China-UK cooperation.” Observers warned that the UK may face further decline in its trade with China, arguably the largest source of global economic momentum over the next 10-15 years that it could rely on for growth after Brexit.
Source: Global Times | 2020/11/25 22:53:40

Regulator approves Ant units' ABS issues

In what is seen as a positive signal to the market, Chinese regulators have approved asset-backed securities (ABS) issues by two online lending subsidiaries of the Ant Group. The move follows the suspension of Ant Group's huge dual IPO in early November.
Source: Global Times | 2020/11/25 21:23:41

UK's move to exclude Huawei's 5G gear damages mutual trust: FM

The UK's new bill to ban Huawei from participating in its 5G mobile network is a baseless crackdown on Chinese companies that follows in US footsteps, which will negatively impact the mutual trust basis of China-UK cooperation, Zhao Lijian, a spokesperson of Chinese Foreign Ministry, said on Wednesday.
Source: Global Times | 2020/11/25 16:30:10

No policy barrier for Taiwan enterprises to list in the Chinese mainland: Taiwan Affairs Office of the State Council

There is no policy barrier for Taiwan enterprises to list in the Chinese mainland and they will enjoy equal treatment as their mainland peers, Zhu Fenglian, a spokesperson for the Taiwan Affairs Office of the State Council, said at a press briefing on Wednesday.
Source: Global Times | 2020/11/25 13:16:15

Regulator approves Ant Group subsidiaries' ABS financing program following suspended IPO

Two Asset-Backed Securities (ABS) financing programs belonging to Ant Group's online lending subsidiaries, with a combined issuing scale of 20 billion yuan ($3.03 billion), have been approved, according to a release by the SSE Corporate Bond Information of the Shanghai Stock Exchange on Wednesday.
Source: Global Times | 2020/11/25 12:08:39

China's major vaccine maker Sinopharm submits COVID-19 vaccine application to top watchdog on drugs

Shi Shengyi, deputy general manager of Sinopharm Group Co., Ltd., said that Sinopharm has submitted a #COVID19 vaccine application to the State Food and Drug Administration.
Source: | 2020/11/25 11:30:37

More Canadian politicians join campaign to free Huawei's Meng Wanzhou, piling pressure on Trudeau

An increasing number of Canadian politicians are joining a campaign to release Huawei CFO Meng Wanzhou, which cites “deteriorating relations with China, and the rise of Sinophobia in Canada,” adding pressure on Prime Minister Justin Trudeau to rethink his hardline stance against China.
Source: Global Times | 2020/11/24 21:28:40

Huawei reportedly to upgrade its smartphones with HarmonyOS soon

The Beta version of Huawei's HarmonyOS for smartphones will adopt a new "language" from December 16 onwards that will allow the phones to interact with other devices, a source briefed on the matter told the Global Times on Tuesday.
Source: Global Times | 2020/11/24 16:04:22