Companies
Peace, stability important in Taiwan Strait, says Japan Foreign Minister
Tokyo [Japan], November 18 (ANI): Amid China’s provocative military activities in Taiwan Strait, Japan Foreign Minister Yoshimasa Hayashi on Thursday spoke with his Chinese counterpart Wang Yi, and said that peace and stability in the Taiwan Strait are important.
During the talk, Hayashi also expressed concern about the repeated intrusions of ships sent by Beijing into Japanese waters near the Senkaku Islands, Kyodo News reported.
This was the first conversation with Wang since Hayashi became Japan’s top diplomat on November 10.
During the call that lasted about 40 minutes, Hayashi also voiced “serious concern” over human rights issues in Hong Kong and China’s far-western Xinjiang region, Kyodo News reported citing the Japanese Foreign Ministry.
According to Kyodo News, Japan and China will mark the 50th anniversary of the normalization of bilateral diplomatic ties next year. But their relations remain tense over territorial, security and wartime issues.
The Senkaku Islands are administered by Japan but claimed by China, which calls them Diaoyu.
Meanwhile, Taiwan is a democracy of almost 24 million people located off the southeastern coast of mainland China. Despite being governed separately for more than seven decades, China has threatened that “Taiwan’s independence” means war. (ANI)
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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