Page 2 - Chinese Firms

Kathy Yang Chiu-Chin to be named Foxconn's first woman rotating CEO

Electronics manufacturing giant and Apple vendor Foxconn has named Kathy Yang Chiu-chin as its rotating chief executive officer with effect from Monday, the company said. In a statement, it said Chiu-chin will be the first woman to hold the rotating CEO's role at Foxconn. "Hon Hai Technology Group (Foxconn) has named Kathy Yang Chiu-chin its rotating Chief Executive Officer, effective Monday, setting two major milestones in corporate governance leadership for the world's largest electronics manufacturing service provider," the company said. Foxconn chairman Young Liu, during his visit to India in August 2024, had told PTI that the company is looking to promote women in leadership roles. Chiu-chin was also at the event in Chennai where Liu made the statement on promoting women leadership in the Foxconn Group. According to the last information shared by Foxconn, women account for 30 per cent of its total workforce in India. Foxconn had around 48,000 employees in August 2024. Chiu-

Vivo eyes 70% revenue from overseas sales by 2027 as China market saturates

Vivo grew its shipments in China by more than 10 per cent in 2024, beating Apple Inc. and homegrown rivals Huawei Technologies Co. and Xiaomi Corp. to the top spot, according to research firm IDC

Jack Ma-backed Ant touts AI breakthrough powered by Chinese chips

Ant Group leverages domestic semiconductors to develop AI models, reducing costs and challenging Nvidia's dominance amid US-China tech tensions

Excessive competition within China: Why leaders are worried about 'Neijuan'

Decoded: What is 'Neijuan' and how is China planning to crackdown on excessive, self-defeating competition within the country

Clock's ticking! Chinese firm imposes strict 2-min limit on toilet breaks

The Three Brothers Machine Manufacturing Company in Foshan, Guangdong, enforced strict restroom rules, setting fixed break slots and a strict two-minute cap on unscheduled trips

Chinese companies control around 75% of Indonesian nickel capacity

Indonesia's 8 million metric tonne refining capacity was distributed across 33 companies, but ownership tracing showed shareholder overlap, and ultimately Chinese companies control

China FY24 revenue growth falls, non-tax income jumps amid market slump

Fiscal revenues in 2024 totalled 21.97 trillion yuan ($3.03 trillion), including 17.497 trillion yuan in tax receipts and 4.473 trillion yuan in non-tax income

Country Garden expects to reach terms with creditors in Feb, tells lawyer

Country Garden said earlier this month it has proposed to creditors a debt restructuring that would cut its offshore debt worth $16.4 billion by 70 per cent

25 Chinese companies may take part in international mining exhibition

Around 25 Chinese companies have expressed interest in participating in the 11th edition of the International Mining and Equipment Exhibition (IME) in Kolkata, an official said on Friday. The Mining, Geological & Metallurgical Institute of India (MGMI), which organises the exhibition in collaboration with Tafcon, stated that the last two editions did not feature direct participation from Chinese companies. "For the upcoming 11th edition, 25 (Chinese) companies have committed to participate so far," MGMI secretary Ranajit Talapatra said. Addressing the media, Tafcon official I P Wadha said: "With the easing of visa restrictions, we expect officials from at least 25 Chinese companies to attend. In the past editions, Chinese companies that have local affiliations or collaborations have participated in the exhibition. MGMI president and Western Coalfields Chairman J P Dwivedi said the event could witness the participation of 600 delegates from 30 countries. The IME 2025 and a conclav

China extends its coal imports lead over India to widest in over a decade

Global thermal coal prices have retreated from record highs hit after Russia's 2022 invasion of Ukraine, but are 50 per cent higher than the average during the 2017-19 period

China's biggest shipping line Cosco added to US military blacklist

Federal Register filing named it as qualifying as a Chinese military company as determined by the Pentagon, along with Tencent Holdings Ltd. and Contemporary Amperex Technology Co Ltd

Chinese workers found in 'slave-like conditions' at BYD's Brazil facility

BYD has cut ties with its contractor Jinjiang Construction Brazil Ltd, and pledged to protect the rights of all subcontracted workers

BYD on track to beat 2024 sales goal of 4 mn vehicles, outsell Ford, Honda

During August to October, BYD added nearly 200,000 units in production capacity and hired 200,000 workers for auto and part manufacturing

Blacklists to bans: Why countries think Chinese firms are a security risk

Nations are increasingly imposing restrictions on Chinese companies like DJI, Hesai, and TikTok due to perceived threats related to privacy, security, and trade competition

US sanctions Chinese firms for manufacturing Russian drones against Ukraine

Senior administration official stated that the US has previously warned Beijing about the network, countering Chinese claims that they are unaware of its existence

Uniqlo owner seen posting 24% annual profit rise on brand's overseas push

That's marginally higher than the company's 475 billion yen forecast, which it lifted in July citing a strong performance in the second half

Govt to limit Chinese CCTV use, boost local suppliers post-Lebanon crisis

The government's updated policy on surveillance cameras, expected to be implemented on October 8, will likely push Chinese companies out of the market, giving Indian firms an advantage

China warns carmakers of risks of making overseas investment: Report

It also encouraged carmakers to use overseas factories for final vehicle assembly with knock-down components exported from China to mitigate potential risks stemming from geopolitical issues

China's Xi boosts Africa financing by $51 billion, offers a million jobs

China and Africa account for one-third of the world population, without our modernisation, there will be no global modernisation, Xi said

Philippine officials detain over 160 for suspected cybercrime operation

Philippine authorities raided a suspected illegal online gaming and cyberscam complex in a central province and took into custody more than 160 people mostly Chinese and Indonesians who were committing internet-based crimes, officials said Sunday. The raid on Saturday by more than 100 government agents, backed by military intelligence, on a resort compound in Lapu-Lapu city was part of an ongoing crackdown after President Ferdinand Marcos Jr ordered a ban in July on widespread and mostly Chinese-run online gaming operations that cater mostly to clients in China, where illegal gambling is banned. Marcos said then that the massive illegal gambling operations have ignored Philippine laws with largescale violations of regulations and also committed other crimes, including financial scams, human trafficking, torture, kidnappings and murder. The raid at the Tourist Garden Resort, which has 10 buildings with swimming pools, karaoke bars and restaurants, came after the Indonesian Embass