Last week, Bloomberg reported that Walmart was trying to find a solution to its tariff woes by asking some of its Chinese vendors for significant price cuts of as much as 10% to offset the…
BUSINESS
Ex-Fisheries Clerk Amasses $9 Billion As His Gold Jewelry Brand Soars
Xu Gaoming, an ex-fisheries clerk in China who started jewelry brand Laopu Gold in 2016, has amassed a $9 billion fortune.
US sanctions on Russian oil squeeze China’s crude imports
Stricter measures targeting Russian oil tankers have reshaped China’s crude import landscape, with Russia slipping in the supplier rankings while Saudi Arabia and Iraq retain their top positions …
Biren secures pre-IPO funding as valuation tops US$2.1B, backed by Shanghai AI Industry Fund
Shanghai Guotou Pioneer Fund announced via its official WeChat account that its AI industry fund led a fresh investment round in Biren Technology (Biren), one of China’s top GPU startups. Several …
Trump’s tariffs won’t solve the opioid crisis, but a deal with China might
They provide leverage that Trump should use to strike a deal with China to more comprehensively regulate its pharmaceutical and chemical industries.
Walmart gets dressing-down from China after pleading with suppliers to absorb tariff costs: report
Chinese officials reportedly warned Walmart of legal consequences during a meeting this week after the retailer pushed Chinese suppliers to bear the brunt of President Trump’s tariffs, …
China announces tit-for-tat tariffs on Canadian food imports
China announces tit-for-tat tariffs on Canadian food imports – Tariffs add to global trade tensions already high, with rounds of duties announcements by US, China, Canada and Mexico …
China’s commerce ministry met with Walmart on supplier pricing, state media says
Chinese officials met with Walmart this week to discuss media reports that the U.S. retailer has asked Chinese suppliers to slash prices to offset U.S. tariffs on goods from China, according to …
Shanghai Court Recognises The Legality Of Crypto Ownership For Individuals
In a landmark ruling, a Shanghai court has officially recognized the legality of cryptocurrency ownership for individuals in China. This decision, while not signaling a change in the country’s strict …
China builds ‘equivalent of Royal Navy’ in just four years
China has built the equivalent of the entire Royal Navy in just four years as Beijing races to become a global maritime power, according to a Washington-based research group …
Porsche Cuts Profit Target From IPO After China Sales Slump
Porsche AG lowered another profitability goal set at the time of its blockbuster listing after the luxury-car maker’s earnings slumped due to tumbling sales in China.
China’s ICBC launches $11 billion technology innovation fund
The move comes after China last week laid out its major policy priorities for … reaching billions of people worldwide every day. Reuters provides business, financial, national and international news …
Honda Slashes Gas Engine Production In China As Sales Collapse To Focus On EVs
Emerging local brands like BYD have forced Honda’s hand in the world’s largest, and ultra-competitive, new car market …
