Page 4 - China

Evergrande founder Hui Ka Yan gets life term, firms fined $2.4 bn

The property tycoon was convicted of fundraising fraud and bribery, while Evergrande and its onshore unit were fined 15.82 billion yuan

Shares in China's Unitree soars more than five-fold in Shanghai debut

While it is not the first Chinese humanoid robot maker to go public, its debut is expected to set the tone for a slew of domestic rivals preparing to ​come to market.

The myth of the China shock

The decline in US manufacturing jobs began decades before China's WTO entry. The bigger challenge is helping workers and regions adapt to economic disruption

China youth unemployment up to 17.9% as graduate numbers grow, growth slows

China's youth unemployment rose to 17.9 per cent in July, the second-highest in recent years, as a record 12.7 million university graduates entered the shrinking job market amid economic slowdown, according to official data released on Wednesday. The jobless rate for those aged 16-24, excluding students, rose three points to 17.9 per cent from 14.9 per cent in June, the data released by the National Bureau of Statistics said. The 17.9 per cent official figure was the second highest after the 17.8 per cent rate recorded in June and 18.9 per cent in August last year. The rise in the youth unemployment rate coincides with the entry of a record 12.7 million university graduates in July/Aug, up by four per cent from last year. The unemployment rate for those aged 25-29 also rose to 7.2 per cent in July, up from 7.1 per cent in June. Unemployment in China was not much of an issue until a decade ago, as the economy in the past expanded at exceptionally high rates, generating millions of

China's LandSpace makes history, recovers rocket booster after launch

The successful recovery marks a major step in China's push to develop lower-cost, reusable rockets, with LandSpace becoming only the fourth entity globally to recover a launch vehicle

China unveils new measures to boost consumption in counties, smaller cities

China on Tuesday rolled out a series of measures to boost consumption in its counties and smaller cities to revive sluggish domestic demand, which has become a major source of its economic slowdown. The measures herald a policy shift to boost domestic demand from top cities and tap the potential of vast lower-tier markets as a new source of economic growth, an official announcement here said. The government calls for upgrading consumption channels in counties, including renovating township commercial centres, rural markets and local fairs. It includes encouraging domestic and international brands to open regional debut stores and promote the revitalisation of existing land resources to improve services, according to the guideline issued by the Ministry of Commerce. The lower-tier markets, generally referring to third-tier and smaller cities, counties, townships and rural areas, account for about 70 per cent of China's population and 60 per cent of total retail sales of consumer ...

Xi Jinping ties predecessor's legacy to his own agenda as risks grow

Jinping invoked the legacy of his predecessor Jiang Zemin to advance his own economic and global policy agenda, warning of "high winds and rough waters"

China starts first regular container service through Arctic: Why it matters

The service, officially called the China-Europe Arctic Express and branded by the Chinese carrier as the 'Ice Silk Road', will sail along Russia's Northern Sea Route

Trump's Iran war pulls US carrier from Pacific as China steps up pressure

President Donald Trump's war against Iran is stretching the limits of US aircraft carriers and leaving the western Pacific without one of the key American warships as China shows more signs of aggression. The USS George Washington is departing the Pacific and expected to replace the USS Abraham Lincoln in the Middle East amid growing concerns about mental health and supply issues aboard the long-deployed carrier. The Lincoln has had its time at sea extended from its original May return date to support operations against Iran. The lack of a US carrier in the Pacific may be short-lived if the Navy deploys another in the next couple of months. But it shows how the open-ended operations with Iran are running some American sailors ragged, analysts say, while the Trump administration further retreats from the Asia-Pacific region and focuses on the Western Hemisphere. "The administration says that the Pacific is supposed to be the most important behind the Western Hemisphere," said Greg ..

Japan PM skips controversial shrine visit on anniversary of WW-II surrender

Japanese Prime Minister Sanae Takaichi avoided Tokyo's controversial Yasukuni Shrine, apparently to prioritise diplomatic relations with China and South Korea, as Japan on Saturday marked the 81st anniversary of its surrender in World War II. However, she did not mention her country's wartime past in Asia or show remorse over it in her address. The Yasukuni Shrine, which commemorates over 2.4 million people who died in wars, became controversial after including 14 convicted Japanese war criminals from World War II. China and South Korea say visits by Japanese officials to the shrine show a lack of remorse over Japan's wartime atrocities. Takaichi mourned the victims of major devastation in Hiroshima, Nagasaki and Okinawa, as well as those who perished in overseas battlefronts, and thanked them for their sacrifice as the "foundation of Japan's peace and prosperity today." "Japan, since the end of the war, has consistently contributed to global peace and prosperity. We will never let

India ranks fifth in GenAI patent filings; China at top: WIPO report

The push for patents illustrates how companies are moving from experimentation to large commercial deployment of AI

China July bank loans post record contraction as credit demand falters

China's new yuan loans contracted by a record 340 billion yuan in July, as weak household and corporate borrowing pointed to subdued credit demand.

China's Z.ai to rival Anthropic, OpenAI in coding with new AI model

The next iteration from the Beijing-based company, GLM-5.3, will bring improved coding capabilities that will help it close the gap on AI leaderboard toppers like Anthropic's Fable 5, the company said

Microsoft retreats in China, but AI boom helps it keep a window open

Microsoft has shut at least 15 China offices and joint ventures in five years and considered exiting the market in 2023, as US-China tensions, regulations and technology curbs weigh on its business

Apple trains its own AI model for China market with Alibaba's support

The AI model was developed in partnership with Alibaba Group and trained with the Chinese tech giant's support

MHI receives 20 bids for rare earth magnet manufacturing scheme

20 bids signal strong industry interest in India's ₹7,280-crore push to build domestic rare earth permanent magnet capacity and reduce import dependence

China's Lenovo Q1 results: Revenue jumps 43% to $26.94 billion on AI boom

Lenovo's revenue rose to $26.94 billion in the three months ended June 30, beating analyst expectations of $22.3 billion, as the consumer electronics hardware giant benefited from AI demand

China extends anti-dumping duties on Indian optical fibre for 5 years

The tax rates will remain unchanged from previous rulings, ranging between ​7.4 per cent and 30.6 per cent across different Indian exporters

China sees underground market for leaks on Xi's next corruption targets

Secretive online groups are selling purported clues on officials under scrutiny as Xi Jinping's anti-graft campaign fuels anxiety across the political system

Zhu Rongji: Fmr premier who was the architect of economic overhaul in China

A young Communist star in the 1950s, Zhu was expelled from the party in one of Mao Zedong's ideological purification campaigns.