china – The News Desk

China Southern Airlines to launch new Budapest route – Business Traveller

13Apr

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Travel

China Southern Airlines to launch new Budapest route – Business Traveller

Starting 27 June, China Southern Airlines will launch a four-times weekly service from Guangzhou to Budapest, the Hungarian capital airport has confirmed. The route will be operated with China Southern’s two-class Boeing 787-8 aircraft. These seat just 18 passengers in a 2-2-2 configuration in business class and 248 across a 3-3-3 configuration in economy class. “It’s a great pleasure to welcome China Southern Airlines to Budapest Airport and to introduce Guangzhou, one of China’s major hubs, as a new and exciting destination,” says Balázs Bogáts, CCO, Budapest Airport. The new China Southern Guangzhou route marks the fifth nonstop service from Budapest airport to China, with China Eastern Airlines and its Shanghai Airlines offshoot flying to Budapest alongside Air China and HNA carr...

U.S. is pushing China to change a policy threatening American jobs, Treasury Secretary Yellen says

8Apr

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Money

U.S. is pushing China to change a policy threatening American jobs, Treasury Secretary Yellen says

The Biden administration is pushing China to change an industrial policy that poses a threat to U.S. jobs, Treasury Secretary Janet Yellen said Monday after ending four days of talks with Chinese officials.She also said she and Chinese officials had "difficult conversations" about national security, including American concerns that Chinese companies are supporting Russia in its war in Ukraine.But the focus of her trip was industrial policy, and what the U.S. and Europe describe as manufacturing overcapacity in China. Wealthy nations fear a wave of low-priced Chinese exports that will overwhelm factories at home, undercutting prices from U.S. manufacturers and risking job losses. Still, Yellen also stressed that the U.S. is seeking "a healthy economic re...

A TikTok Whistleblower Got DC’s Attention. Do His Claims Add Up?

4Apr

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Technology

A TikTok Whistleblower Got DC’s Attention. Do His Claims Add Up?

Despite not holding a senior position, Goziker claims that his main job at TikTok was “overseeing” Project Texas to ensure the social media app’s plan to secure US user data would be effective. The goal was to implement a set of safeguards that would satisfy the Committee on Foreign Investment in the United States, an interagency body charged with evaluating national security risks associated with foreign firms acquiring or taking major stakes in US companies. CFIUS has the power to force companies to unwind deals it considers risky, and since 2019 has been investigating ByteDance’s 2017 purchase of a lip-syncing app called Musical.ly, which was later merged into TikTok.Goziker claims that he interviewed more than three dozen people at TikTok and ByteDance about Project Texas, according...

2Jan

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Business

Xi Jinping Says Happy New Year

China’s Supreme Leader Xi Jinping offered his traditional New Year’s greeting Monday with a warning. “The reunification of the motherland is a historical inevitability,” Mr. Xi said, according to the Chinese-language version documented by various news sources.“Compatriots on both sides of the Taiwan Strait should be bound by a common sense of purpose and share in the glory of the rejuvenation of the Chinese nation,” he added. The official English translation wrote “all Chinese” rather than “compatriots,” according to a Reuters dispatch.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

China’s EV Champion BYD Will Take on the World in 2024

2Jan

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Money

China’s EV Champion BYD Will Take on the World in 2024

China’s electric-vehicle maker BYD will be on top of the world this year, with overseas markets its main battleground.At home, it already surpassed Volkswagen as the most popular car brand in China last year. Globally, it will likely overtake Tesla as the bestselling pure EV maker in 2024.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Baidu Terminates $3.6B Deal to Buy JOYY’s China Live-Streaming Business

2Jan

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Technology

Baidu Terminates $3.6B Deal to Buy JOYY’s China Live-Streaming Business

Baidu has called off a $3.6 billion deal to buy JOYY’s video-based entertainment live-streaming business in China.As of the end of December, the closing conditions for the share purchase agreement had yet to be fully satisfied, Baidu said in a filing late Monday.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Chinese State-Owned Firms Establish $1.4 Billion Fund

2Jan

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World

Chinese State-Owned Firms Establish $1.4 Billion Fund

Two Chinese state-owned companies will establish a 10 billion yuan ($1.41 billion) fund to invest in companies with real estate project assets.Under the agreement, New China Life Insurance will be the limited partner providing CNY9.9 billion in capital and China International Capital Corp.will act as general partner that will manage the fund, New China Life said late Monday.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

China’s first domestically built cruise ship, the Adora Magic City, sets sail on maiden voyage

1Jan

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Money

China’s first domestically built cruise ship, the Adora Magic City, sets sail on maiden voyage

Shanghai — China's first domestically built cruise ship set sail on its maiden voyage from Shanghai on Monday, a sign of the nation's growing prowess in sophisticated construction as it seeks self-sufficiency in key technologies. The Adora Magic City left port on its first commercial cruise late afternoon, en route to South Korea and Japan. Equipped with a mahjong lounge and hotpot restaurant, the luxury vessel is aimed squarely at China's expanding middle class and their appetite for international travel. China's first large domestically built cruise ship, the "Adora Magic City," is seen docked at Wusongkou International Cruise Port, Shanghai, China, in a Dec. 17, 2023 file photo. CFOTO/Future Pu...

Kim Jong Un’s 2024 Wish List: More Nuclear Bombs, Spy-Satellite Launches

1Jan

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World

Kim Jong Un’s 2024 Wish List: More Nuclear Bombs, Spy-Satellite Launches

SEOUL—Throughout 2023, North Korean leader Kim Jong Un called for the expansion of his country’s weapons arsenal. This year, he plans more of the same. Pyongyang plans to carry out three more spy-satellite launches and accelerate nuclear-weapons production in 2024, Kim told top North Korean officials in recent year-end meetings. The 39-year-old dictator ruled out reunification with South Korea. And he echoed prior dissatisfactions with the U.S., urging his country to prepare for an armed conflict that could occur at any time. Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Western Anxiety About Chinese EVs Could Prove Self-Defeating

1Jan

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World

Western Anxiety About Chinese EVs Could Prove Self-Defeating

Updated Jan. 1, 2024 12:06 am ETChina hawks have the upper hand in the political battle over electric vehicles. They should be wary of overplaying it.The rules for getting a tax credit on EV purchases in the U.S. changed recently. One difference will help stimulate sales: The credit, worth up to $7,500, is now available at the point of sale rather than at the end of the tax year, meaning it can be used as part of a down payment. Other changes will have the opposite effect. Among new sourcing requirements designed to foster a North American supply chain, battery components manufactured in China, the world’s largest supplier, now make models ineligible.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8