BEIJING — China has not fully recovered from the shock of the coronavirus pandemic, business leaders said in a survey by the China Beige Book released Tuesday. After about a year since Covid-19 first emerged in the Chinese city of Wuhan, roughly two-thirds of executives polled by the third-party firm said they don’t expect sales, […] Read more
SINGAPORE — Shares of Chinese tech giant Alibaba in Hong Kong were in the spotlight once again on Monday, after Chinese regulators ordered Alibaba-affiliate Ant Group to rectify its businesses. By the Hong Kong market close on Monday, shares of Alibaba listed in the city plunged 7.98%, adding to losses for the firm. The stock had also dived last […] Read more
For people staying safely at home this holiday season, new virtual tours let anyone with an internet connection tour famous Christmas destinations around the world. Homebound travelers can book live interactive tours with local guides to learn about everything from the religious sites of Jerusalem to the department store displays of New York City. […] Read more
Taiwan has recorded its first locally-transmitted case of coronavirus since April. The island has had one of the most successful pandemic responses in the world, and the new infection ends a 255-day run without local transmission, underscoring the difficulties in controlling the virus even in areas where it has been largely stamped out. According to […] Read more
Chinese leaders warned at an important economic planning meeting last week that growth still faces many challenges. While the rest of the world still struggles with the shock of the coronavirus pandemic, China is set to be the only major economy to expand this year. President Xi Jinping, Premier Li Keqiang and other leaders who attended […] Read more
The rollout of Covid-19 vaccines in Singapore will help the economy to recover — but will not take it back to what it was before the pandemic, the country’s Minister for Foreign Affairs Vivian Balakrishnan said on Thursday. “I think we should talk about a new normal. So yes, there will be recovery in […] Read more
China — Shares of Chinese chipmaker SMIC fell over 5% on Wednesday after the company said it was aware its co-CEO planned to resign and as its stock was set to be removed from MSCI indexes. SMIC said it had become “aware” of co-CEO Mong Song Liang’s “intention of conditional resignation.” The company said it was “verifying” […] Read more
China’s market regulator has fined Alibaba and a Tencent-backed company for not making the proper declarations to authorities about past acquisitions, in another sign Beijing is taking a tougher stance on the country’s tech giants. Alibaba, Tencent-backed China Literature, and Shenzhen Hive Box Technology were each fined 500,000 yuan ($76,463) by the State Administration for Market Regulation (SAMR). […] Read more
Hope is fading for a significant change in U.S.-China relations under President-elect Joe Biden, Alicia Garcia-Herrero, Natixis’ chief economist for Asia-Pacific, said on Thursday. Relations between the U.S. and China have spiraled downward under President Donald Trump’s administration in the last four years. Ahead of the election, Natixis economists had hoped the two countries could return to better […] Read more
DUBAI, United Arab Emirates — Human trials of a Chinese vaccine in the United Arab Emirates have yielded positive results, the UAE’s national health authorities said Wednesday, citing an 86% efficacy rate. The figure was announced by the UAE Ministry of Health via state news agency WAM, detailing an “interim analysis” conducted by Sinopharm’s China […] Read more
