Renowned technological hub Shenzhen is strategically expanding its focus to solidify its position as a leader in healthcare manufacturing. To accelerate this growth, the city government is joining forces with Fosun Pharma, one of China’s biggest pharmaceutical producers, to establish a massive US$700 million healthcare fund. This 10-year initiative, spearheaded by the Shenzhen Guidance Fund...
Japan, a nation synonymous with car manufacturing, faces a surprising challenge: a lack of competitive electric vehicles (EVs) from its own domestic brands. This irony is highlighted by the recent “2023 Japan Electric Car of the Year” award, where a Chinese-made BYD Dolphin EV secured the top spot, with another BYD model and a Hyundai...
Following China’s recent emphasis on developing “new quality productive forces” in its Government Work Report, Premier Li Qiang has urged a coordinated effort to promote the application of artificial intelligence (AI). This push for AI development comes after a series of visits by Li to key players in China’s technological landscape. Li’s remarks were made...
China Southern Airlines is poised to take to the skies with a history-making flight! Buckle up for China’s longest international route yet, connecting the bustling metropolis of Shenzhen with the vibrant heart of Mexico City. This epic journey, featuring a convenient layover in Tijuana, will take its inaugural flight on April 17th. But the excitement...
China’s auto industry kicked off 2024 with positive momentum, recording an 11.1% year-on-year increase in total vehicle sales to nearly 4.03 million units in the first two months, according to data from the China Association of Automobile Manufacturers (CAAM). This growth was mirrored in production, with auto output climbing 8.1% year-on-year to 3.92 million units...
China is taking steps to address the growing issue of “invisible overtime,” where employees are expected to respond to work messages and handle tasks outside of regular working hours. This follows a recent Supreme Court ruling recognizing such work as compensable overtime. Lyu Guoquan, head of the trade union federation, proposed a legal framework for...
A decade ago, President Xi Jinping hosted world leaders at the APEC summit in Beijing. Back then, the air quality in the Chinese capital was a source of concern, with clear skies nicknamed “APEC blue” seen as a temporary phenomenon. Xi assured those leaders of China’s commitment to environmental protection, promising the “APEC blue” would...
Science and technology has emerged as a top priority for China in 2024, with a significant 10% increase allocated to this sector in its annual budget. This translates to ¥379.8 billion (roughly US$52.7 billion), marking the largest percentage rise among all major government spending areas and a significant jump from last year’s modest 2% increase....
The landscape of global science and technology is witnessing a shift in power dynamics, with China making significant strides and surpassing South Korea in advancements across 136 key technologies for the first time in 2022, according to a report by South Korea’s Ministry of Science and ICT. This report, which uses the US as the...
Apple dealers in China are offering significant discounts on the latest iPhone 15 series in an attempt to reignite sales and counter growing competition from domestic brands like Huawei. This comes after a previous promotion in January that offered a much smaller discount. The top-of-the-line iPhone 15 Pro Max, initially priced at 9,999 yuan (US$1,390),...