The recent surge in direct flights between China and Canada marks a significant step towards easing air travel demand and improving connectivity between the two nations. The deal between aviation regulators has led to the resumption of regular direct flights from Toronto and Vancouver to Beijing, Guangzhou, Shanghai, and Shenzhen. The first flight under the...
As former US President Donald Trump campaigns for a potential second term, manufacturers in China’s eastern manufacturing hub, Yiwu, are witnessing a surge in demand for Trump-themed merchandise. Despite the trade tensions that marked his previous term, which included tariffs on Chinese goods, Trump’s 2024 bid has sparked a wave of orders from US retailers...
China’s leading chip foundry, Semiconductor Manufacturing International Corp (SMIC), reported record-breaking third-quarter revenue, driven by robust domestic demand for “legacy chips.” SMIC’s Q3 revenue reached US$2.17 billion, a 34% increase year-over-year, marking the first time the Shanghai-based company has surpassed US$2 billion in quarterly revenue. Net profit surged by 58.3% to US$148.8 million. SMIC’s continued...
Alibaba Group Holding is reducing its metaverse operations, becoming the latest major tech player to re-evaluate its commitment to the sector. According to sources, dozens of employees from Alibaba’s metaverse unit, Yuanjing, have been laid off as part of a restructuring process aimed at boosting organizational efficiency. Yuanjing, which operates in Shanghai and Hangzhou, previously...
Apple sees iPhone 16 prices slashed by up to 1,600 yuan (US$225) at its online store on Alibaba Group Holding’s Tmall platform, as the US tech giant looks to boost sales on Singles’ Day, the world’s biggest shopping festival, amid stiff competition in China.Under its Singles’ Day promotion, Apple’s Tmall store started offering a 500-yuan...
At the China-ASEAN Expo in Nanning, China’s Guangxi LiuGong Machinery Co., Ltd. showcased its cutting-edge intelligent loader, a driverless machine operated via remote control, catering to the demands of mining and construction companies in ASEAN nations. This loader exemplifies LiuGong’s focus on electrification, digitization, and interconnectivity in construction machinery, a strategy that has driven the...
Shenzhen’s container throughput reached an impressive 20.25 million twenty-foot equivalent units (TEUs) from January to August this year, marking a significant 16.33% year-on-year growth, according to Shenzhen Customs. The city’s exports of new energy vehicles (NEVs) have also experienced notable growth, with the value of NEV exports hitting 15.15 billion yuan (US$2.14 billion) in the...
Hong Kong authorities will seek further information from both Tokyo and Beijing to explore the possibility of easing the current restrictions on seafood imports from 10 Japanese prefectures. This comes after the central government announced plans to “gradually” lift its ban on Japanese seafood imports, which had been imposed in response to the discharge of...
Nio is gearing up to challenge Tesla’s dominance in the Chinese electric vehicle market with the launch of its new Onvo L60 SUV. Scheduled for release later this month, the L60 is set to make waves with its competitive pricing and innovative features. The Onvo L60 will be priced at 206,900 yuan (US$29,267), significantly undercutting...
The Customs Tariff Commission of the State Council has announced that the policy of exempting import duties on 34 agricultural products, including fresh fruits, vegetables and seafood originating from China’s Taiwan region, will be suspended from September 25. The relevant import tariffs on these agricultural products will be applied in accordance with the current regulations,...