STORY: As China’s job market shrinks, a rush of newcomers is oversaturating gig economy jobs like ride-hailing. It’s eating into the income of existing full-timers like Li Weimin and dragging out his work hours.
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China’s saturated ride-hailing sector squeezes drivers
China’s Tencent posts weak revenue growth
China’s Tencent Holdings posted a smaller-than-expected 11% rise in second-quarter revenue on Wednesday, as the country’s sputtering economic recovery weighed on the social media and gaming giant’s recovery from last year’s record downturn.
China’s defense minister warns against ‘playing with fire’ on Taiwan during Russia meeting
China’s defense minister Li Shangfu on Tuesday warned against “playing with fire” when it comes to Taiwan in a veiled jab at the United States as he addressed a security conference in Russia.
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Mass production of the new battery called Shenxing is expected by the end of the year while electric vehicles equipped with Shenxing batteries will hit the market in the first quarter of 2024，Gao Han, …
China Scuttles a $5.4 Billion Microchip Deal Led by U.S. Giant Intel
Intel calls off its planned acquisition of Tower Semiconductor, an Israeli chip maker, after waiting in vain for 18 months for a review by Chinese regulators.
China’s economic woes mount as trust firm misses payments, home prices fall
BEIJING/HONG KONG (Reuters) -Missed payments on investment products by a leading Chinese trust firm and a fall in home prices have added to worries that China’s deepening property sector crisis is …
Oil falls on China worries despite tighter US supply
Oil prices edged down on Wednesday, extending a 1% drop in the previous session, as worries about China’s struggling economy outweighed declining U.S. stockpiles. Brent crude futures slipped 38 cents …
Beijing among top 3 cities for hybrid work, while high cost of accommodation and coffee weighs on Hong Kong in 22nd spot, IWG says
Barcelona, Toronto and Beijing have been named the top three cities for hybrid work, while Hong Kong ranked 22nd, according to a study by workspace operator IWG.
China may ‘miss the 5%’ growth target this year as downside risks spread
Without more stimulus, China is increasingly likely to miss its growth target of around 5% this year, economists said.
China woes drag on yuan, Aussie; pound sways after UK inflation rate slows
Mounting concerns over China’s sputtering economy knocked the Australian dollar and the yuan to nine-month lows on Wednesday, while the dollar held broadly steady, underpinned by a resilient U.S. economy.
China £2.4trn economic meltdown ‘has ‘spillover potential for UK’ warns banking expert
EXCLUSIVE: Bob Lyddon also believes it is very difficult to tell how exposed UK banks are to Chinese counterparts.
India and China pledge to maintain ‘peace and tranquility’ along disputed border despite tensions
Chinese and Indian military commanders have pledged to “maintain the peace and tranquility” along their disputed border in an apparent effort to stabilize the situation following a rise in tensions.
China’s top brands turn cautious over economic recovery
Chinese consumers are tightening their belts across sectors from beauty products to jewelry, though are still spending big on restaurants, as a list of headwinds signal growing uncertainty about the …
