Companies
Hubei sees robust agricultural export growth in first 10 months
WUHAN, Dec. 8 (Xinhua) — Central China’s Hubei Province, once hard hit by the COVID-19 epidemic, saw 29.4 percent year-on-year growth in agricultural product exports in the first 10 months of 2020. Agricultural products worth 1.89 billion U.S. dollars were exported in the period, according to the local agricultural and rural affairs department. Exports of mushroom products, traditional Chinese medicine, fruits, nuts and honey increased significantly. Faced with the impact of COVID-19, Hubei has spared no effort in promoting agricultural products, and has taken measures to support work resumption in agricultural product export enterprises.
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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