Companies
Latest count of confirmed COVID-19 cases worldwide at 0500 GMT, Oct. 18
BEIJING, Oct. 18 (Xinhua) — The following are the latest updates on the COVID-19 global confirmed cases in hardest-hit countries by the Center for Systems Science and Engineering at Johns Hopkins University at 0500 GMT, Oct. 18. Country Confirmed Cases World 39,608,809 U.S. 8,106,384 India 7,432,680 Brazil 5,224,362 Russia 1,376,020 Argentina 979,119 Colombia 952,371 Spain 936,560 France 876,342 Peru 862,417 China 91,490 (This article is generated by Xinhua News Robot.)
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).
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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.
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