Companies
Over dozen new coronavirus cases reported in China
Beijing [China], Aug 31 (ANI/Sputnik): China has registered 17 new coronavirus cases in the past 24 hours and all of them have been imported, while another 24 COVID-19 patients have recovered over that period, the country’s National Health Commission said on Monday.
China’s total number of confirmed coronavirus cases now stands at 85,048 and the death toll is 4,634. The total number of recovered individuals in the country stands at 80,177. The total number of imported cases is 2,499.
More than 230 COVID-19 patients remain hospitalised in China.
On Sunday, China reported nine new coronavirus cases (all imported) and 27 new recoveries. On Saturday, the country recorded nine new cases of the disease and 35 new recoveries.
In the past 24 hours, China confirmed 19 new asymptomatic coronavirus cases (all imported). More than 330 asymptomatic coronavirus patients are currently being monitored in the country. (ANI/Sputnik)
China
Government subsidies don’t boost Chinese firms’ productivity
China’s industrial subsidies have caused considerable controversy both internationally and domestically. Trading partners have accused China of unfairly favouring its indigenous firms with subsidies, leaving foreign companies at a disadvantage in the race to lead the technologies of the future.
Governments around the world regularly spend an enormous amount of money subsidising businesses. But few spend like China. A 2022 report suggests that China spends 1.7–5 per cent of its GDP on industrial policies, more than most countries.
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Chinese Smartphone Manufacturer Lays Off 3,000 Employees Following Closure of Chip Design Division
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
(more…)Companies
Company Owned by Chinese Billionaire Guilty of Paying $1 Million in Bribes to LA Councilman
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
(more…)- China’s November 2024 Economy: Navigating Mixed Signals and Ongoing Challenges
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- China Dismantles Prominent Uyghur Business Landmark in Xinjiang – Shia Waves
- China Expands Nationwide Private Pension Scheme After Two-Year Pilot Program
