Cheng Yixiao will be the new CEO at Kuaishou Technology. Cheng founded the company with current CEO Su Hua. Su is stepping down as CEO to become chairman of the board. TikTok rival Kuaishou is currently struggling with major losses and a declining stock market value.
As of November 12, Hong Kong’s financial capital is tightening quarantine rules. Quarantine exemptions for senior managers of listed companies in banking, insurance, and securities sectors will be lifted, Bloomberg reports. Diplomats and other embassy staff will have to isolate themselves in designated quarantine hotels. Isolation in private homes is only possible for ambassadors and […]
Trapped in Disneyland: On Sunday evening, authorities tested 33,000 people for COVID-19 at the Shanghai amusement park. Tens of thousands had to wait for hours for their test results before they were allowed to leave the park. The reason: On Saturday, a man had apparently visited the amusement park and tested positive for the Coronavirus.
Ms. Rudyak, what outcome do you expect from the Forum on China-Africa Cooperation (FOCAC) regarding China’s financial commitments to African countries? I don’t think we will see an increase in China’s lending commitments to African countries. Until 2015, China did increase its pledges each time at FOCAC summits, but since 2018 they have stagnated. At […]
A reading of a biography of Xi Jinping in the German city of Duisburg will take place after all – but not by the Confucius Institute affiliated with the university. Instead, the event will be organized by the university’s East Asia Institute itself, as reported by dpa. Initially, the event had been canceled due to […]
China has unveiled a climate action plan for the years leading up to the 2030 peak in CO2 emissions. This action plan is the first in a series of sectoral plans that follow the “supreme planning document” published on Sunday to achieve climate targets (China.Table reported).Overall, the action plan identifies nine overarching areas where emissions […]
China’s central government wants to regulate the currently soaring prices for coal more closely. The National Development and Reform Commission plans the introduction of a mechanism to prevent the price of coal from fluctuating too much. Accordingly, there is to be a reference price and a certain margin that the price may fluctuate around the […]
Wang Jianjun, former chairman of the Shenzhen Stock Exchange, has been appointed Vice Chairman of the China Securities Regulatory Commission (CSRC), the country’s top securities regulator. Wang will oversee the departmens of IPO’s, investor protection and market operations. Caixin had reported this, citing people familiar with the matter.
Tesla has set up an R&D center in Shanghai. It is the first R&D site outside the US, Bloomberg reports. The reason is the usual one for locating research capabilities in China: The site aims to “bring products and services that are more in line with the needs of the Chinese consumer,” Tesla announced. In […]
Just ahead of the global climate conference in Glasgow, China unveiled its long-awaited “Supreme Planning Document” for achieving national climate targets on Sunday. The policy document outlines key climate targets through 2025, 2030, and 2060. The targets outlined in the document are largely in line with previously voiced targets, but there were surprises as well:What […]