ICBC’s U.S. financial services division targeted in ransomware attack
In a shocking turn of events, the U.S. financial services division of the Industrial and Commercial Bank of China (ICBC) fell victim to a sophisticated [more…]
Category: China
Miners aim to break China’s dominance in rare earth minerals
In a bid to challenge China’s stranglehold on the production and supply of rare earth metals, several Canadian, German, and Australian mining companies are devising [more…]
New all-cargo air route connects China’s Zhejiang and Mexico City, boosting trade and logistics
In a significant milestone for international trade and logistics, a new all-cargo air route was inaugurated on a sunny Sunday morning, connecting Hangzhou, the capital [more…]
Shein and Forever 21 unite for a retail dream team
In an unexpected turn of events, two giants in the fashion industry, Shein and Forever 21, have set aside their rivalry to create a co-branded [more…]
Stellantis invests €1.5 Billion ($1.6 billion) in Leapmotor to compete in China’s EV market
Stellantis, the multinational automotive company that owns brands such as Chrysler and Maserati, has announced a significant investment in the Chinese electric vehicle (EV) startup [more…]
Pony.ai gets $100 million Saudi Arabia investment to develop NEOM’s autonomous infrastructure
In a significant move for the autonomous driving industry, Chinese startup Pony.ai has inked a deal with Saudi Arabia’s futuristic city and development project, NEOM, [more…]
JD.com’s Singles’ Day sales skyrocket amidst fierce price war
JD.com, one of China’s e-commerce giants, has fired the first salvo in this year’s Singles’ Day campaign, the world’s largest shopping festival. The initiative comes [more…]
Chinese government’s increasing scrutiny on foreign companies for revenue collection
As China’s local governments grapple with budget shortfalls and the need to shore up their finances, foreign and local companies operating within the country have [more…]
P&G’s strong performance soothes consumer woes globally, with exception in China
Procter & Gamble (P&G) reported a 2.48% increase in its global performance, indicating a recovering consumer sentiment worldwide, except for one notable exception: China, the [more…]
Uncertain prospects loom over China’s ambitious $1 Trillion – Project of the Century
In 2017, President Xi Jinping launched the ambitious Belt and Road Initiative (BRI), dubbing it the “project of the century.” However, as Xi convenes the [more…]