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Ford reports worst quarterly sales in China since coronavirus pandemic

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Ford

Ford declares worst quarterly sales in China since coronavirus outbreak. Ford sold 120,000 vehicles during the second quarter, a 22 percent decrease from a year earlier. The second quarter sales for General Motors fell 35.5 percent to 484,200 vehicles. In the midst of a rise of Covid-19 cases in the nation and continued issues with … Read more

SoftBank is placed between China and the US with its face recognition firm

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SoftBank

Japan Computer Vision is owned by SoftBank Group’s wireless unit. Faces risks as the facial-scanning system it offers to Mastercard and Visa uses technology from SenseTime Group. SenseTime has been blacklisted by the US over human rights concerns. Washington accuses SenseTime of developing facial-recognition technology that can be used to identify ethnic Uyghurs. A SoftBank-claimed … Read more

Tesla sold 78,000 China-made vehicles in June

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Tesla

U.S. electric vehicle producer Tesla Inc (TSLA.O) sold around 78,000. China-made vehicles in June, starter gauges distributed by the (CPCA). Tesla manufacturing plant in Shanghai, China’s monetary center, was severely impacted in the second quarter by a lockdown. Read More: Qantas: Engineers vote on work disruptions as they demand This was up 142% from May, when … Read more

Hong Kong trade enrolls HSBC, Tencent to assist

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Hong Kong

Hong Kong’s stock trade said on Tuesday. It had enrolled banks including HSBC (HSBA.L). Organizations like China’s Tencent (0700.HK) to assist. Hong Kong Exchanges and Clearing Ltd said in a proclamation that it was setting up the Hong Kong International Carbon Market Council. Overall endeavors to battle environmental change have brought forth willful carbon markets, … Read more

Activist critical of China sentenced to 10 years in Mongolia

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Activist

Munkhbayar Chuluundorj was arrested in February. He was sentenced at a court hearing in Ulaanbaatar. charges of “collaborating with foreign intelligence agency” were made. A prominent Mongolian activist has been handed 10 years in jail after condemning his country’s close ties with China, his lawyer said Wednesday, drawing criticism from rights groups. Landlocked Mongolia is … Read more

China FM Wang Yi desires a ‘golden era’ relations with Philippines

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Wang Yi

China’s foreign minister says Beijing is prepared to work with incoming Philippine President Ferdinand Marcos Jr. to usher in a “new golden era” in bilateral relations. Wang Yi is visiting Southeast Asia at a time when the U.S. is attempting to increase its influence in the area. China’s foreign minister Wang Yi stated on Wednesday … Read more

 Chinese city shuts down once more to prevent a COVID “explosion”

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Chinese

Xi’an has reported 18 cases since Saturday in a cluster driven by the fast-spreading Omicron variant. Public entertainment venues including pubs, internet cafes, and karaoke bars to shut their doors. Schools, universities and businesses to be closed for one week. Xi’an’s shops, schools, and eateries will be closed for a week, according to officials; after … Read more

Chinese property developers accept farm produce for homes

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Chinese

Some Chinese developers are offering vegetables as down payments for homes. Offers include peaches, watermelons, garlic and watercress. Some of these peculiar offers have now been withdrawn, state-owned media report. In an effort to draw consumers, some Chinese real estate developers recently stated that they would take food as payment for properties. The businesses marketed … Read more

Western envoys seize the rare opportunity in China to criticize Russia over the Ukraine War

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Western envoys

 Western envoys in China criticised Russia for its invasion of Ukraine, with the U.S. ambassador saying China should not spread Russian “propaganda. “Russian aggression against Ukraine is “the greatest threat to the global world order,” according to U.S. ambassador  Burns wished that the representatives for China’s foreign ministry would refrain from reiterating “Russian propaganda” that … Read more

China disputes NASA’s claim that it will seize control of the moon

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China

The NASA administrator’s warning that China would “take over” the moon as part of a military mission was rejected by China  China’s space programme has accelerated, with a concentration on moon exploration. NASA Administrator Bill Nelson said: “We must be very concerned that China is landing on the moon and declaring: “It’s ours now and … Read more

China’s real estate crisis deepens as big Shanghai developer defaults

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China

Further significant Chinese developer has fallen behind on its obligations. Shimao Group failed to pay the interest and principal on a $1 billion bond that was due on Sunday. The company has failed to make principle payments on other offshore debt. Further significant Chinese developer has fallen behind on its obligations, throwing another damage to … Read more

New swap market connectivity between Hong Kong and China

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China
  • New programme to facilitate mutual access between the Hong Kong and mainland China interest rate swap markets.
  • The new arrangement, a so-called swap connect,
  • Initially allow offshore investors in Hong Kong to access the mainland interbank financial derivatives market.

Three days after the country commemorated the 25th anniversary of Hong Kong’s return to China, financial officials said on Monday that they will establish a new programme to facilitate mutual access between the Hong Kong and mainland China interest rate swap markets.

According to a statement from the People’s Bank of China, the new arrangement, a so-called swap connect, will initially allow offshore investors in Hong Kong to access the mainland interbank financial derivatives market, and will “in due course” explore how to allow mainland investors to access Hong Kong’s derivatives market.

In six months, the first phase of the programme will be implemented.

According to the PBoC, mainland investors engaged in interbank financial derivatives transactions of Rmb21,100 billion in 2021.

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Trial begins: Xiao Jianhua, tycoon who disappeared in 2017

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Xiao Jianhua

Xiao vanished from Hong Kong’s Four Seasons hotel in January 2017. Reportedly, he was snatched by mainland Chinese agents. Xiao is said to have acted as a broker for the Chinese leadership. Canadian-Chinese tycoon Xiao Jianhua is standing trial on Monday, Ottawa’s embassy in Beijing said in a statement, after the businessman disappeared from a … Read more

China lockdowns and a possible US recession hurt Asia markets

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China
  • Hong Kong’s Hang Seng index fell as high as 1.8%, while South Korea’s Kospi index fell 0.9%.
  • Japan’s Topix rose 1.4% and China’s CSI 300 was largely unchanged.
  • Lockdowns in China and a possible US recession hurt Asian markets.

Asia-Pacific market emotions differed on Monday, despite the resuming of lockdowns in China and ongoing concerns about the possibility of a US recession.

Hong Kong’s Hang Seng index fell as high as 1.8%, while South Korea’s Kospi index fell 0.9%. However, Japan’s Topix rose 1.4% and China’s CSI 300 was largely unchanged.

A increasing epidemic of Covid-19 in China prompted the restoration of lockdown measures in one county of Anhui province and the renewal of nationwide testing mandates.

The affected locations included Wuxi, a manufacturing hub in the east, which encouraged workers to work from home and suspended dine-in services at eateries.

Since Shanghai, China’s commercial and financial centre, emerged from a two-month shutdown that shook the markets in April and May, investors have keenly monitored any indications of a recurrence of lockdowns.

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Huawei release new Mobile WiFi 3 Pro Router in China

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Huawei
  • The new WiFi 3 Pro Mobile Router can download files at a maximum speed of 300 Mbps.
  • It uses WiFi 22 antenna design for dual-band high-speed 2.4GHz and 5Ghz.
  • The device requires a SIM card to operate and supports all three of China’s major telecom providers.

In China, Huawei just debuted a new product. The Mobile WiFi 3 Pro Router is a brand-new mobile router.

The new gadget, which has a sleek and thin design, was introduced by the Chinese tech giant in its domestic market.

Its body is rectangular and has rounded sides and corners. The Interstellar Blue color and general design of the body are the same, but only a single strip at the front includes the required LED lights to indicate the battery life and signal strength.

The company’s branding is also visible on the front.

Additionally, the device just weighs 113 grams, making it the ideal traveling companion. The new WiFi 3 Pro Mobile Router can download files at a maximum speed of 300 Mbps, according to official notes.

It also includes a 3,000mAh battery pack inside, which enables the device to function for up to 12 hours.

In other words, it provides high-speed internet for six hours, which should be ideal for people who need reliable and quick access while on the go.

It uses WiFi 22 antenna design for dual-band high-speed 2.4GHz and 5Ghz, and it can connect to up to 32 devices.

The WiFi 3 Pro requires a SIM card to operate and supports all three of China’s major telecom providers, including Mobile, Telecom, and China Unicom.

This makes it similar to other SIM-based WiFi dongles or portable routers. The cost of the new device is 499 Yuan (roughly 75 US Dollars).

 

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Uzbekistan says 18 dead in unrest in autonomous region

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Uzbekistan 18 dead
  • 18 people killed in clashes in autonomous Karakalpakstan region.
  • Security crackdown has drawn parallels with 2005 Andijan protests.
  • Demonstrators clashed with police during protests in the western region of Nukus on Sunday.

 

18 people were dead in clashes in the autonomous Karakalpakstan region of Uzbekistan last week when mass protests erupted over planned constitutional changes affecting the territory’s status, Uzbek authorities said on Monday.

The unrest, which pitted protesters against security forces, was the most significant challenge to President Shavkat Mirziyoyev’s rule since he ascended to power from the post of prime minister in 2016, when his long-serving mentor Islam Karimov died.

The size of the protest on Friday was unprecedented for the Karakalpakstan region and possibly Uzbekistan.

The security crackdown that ensued has drawn parallels with protests in the eastern city of Andijan in 2005, where 170 people were killed according to an official toll considered conservative at the time.

Uzbek lawmaker Bobur Bekmurodov said that analogy was “unfair” in a tweet on Monday, praising Mirziyoyev’s willingness to engage in dialogue over the crisis.

In the aftermath of the violence, Mirziyoyev scrapped the constitutional amendments that would have removed the republic’s constitutional right to self-determination.

Eyewitnesses told AFP of a tense calm in the region, where a state of emergency is in effect.

The diplomatic reaction to events in the remote region has been muted so far.

 

On Monday, the European Union called for an independent investigation into “the violent events in Karakalpakstan”.

“We deeply regret the casualties and loss of human life and continue to follow developments closely,” it said in a statement.

Russia, Uzbekistan’s traditional ally and top trade partner ahead of China as of last year, indicated it had no plans to intervene.

Moscow, which is pressing ahead with a military offensive in Ukraine, said the events in Uzbekistan were the country’s “internal affair”.

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12 bodies discovered after typhoon shipwreck in South China Sea

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south china sea

Chinese police say 12 bodies have been found following a shipwreck in the South China Sea that left 30 crew members missing. The vessel was severely damaged by a typhoon and split into two pieces, leaving 26 people still unaccounted for after Saturday’s disaster. Chinese police announced Monday that 12 bodies had been found following … Read more

Japan protests Chinese navy ship near disputed islands

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chinese naval

A Japanese official said that a Chinese naval vessel was cruising near disputed islands, as rumours emerged that Russia also dispatched a naval vessel. The East China Sea islets, known as the Senkaku by Tokyo and the Diaoyu by Beijing, are at the centre of a protracted dispute between the two countries. A Japanese official … Read more

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