10 January 2020

Greater China

  • Tesla's China chief Zhu Xiaotong and staff members attend a delivery ceremony for China-made Tesla Model 3 vehicles at the firm’s Shanghai factory on Monday. Photo: Reuters

    Tesla begins deliveries of China-made Model 3 cars

    Dec 30, 2019 12:17pm
    Tesla on Monday began delivering Model 3 vehicles built at its Shanghai factory, marking the occasion with a ceremony during which 15 of its employees received cars they had purchased, Reuters reports. The event means the...
  • China's central bank has ordered financial institutions to use a new benchmark for floating rate loans from Jan 1. Photo: Reuters

    China to switch benchmark for floating-rate loans

    Dec 30, 2019 9:58am
    China’s central bank will use the loan prime rate (LPR) as a new benchmark for pricing existing floating-rate loans, a move that could help lower borrowing costs and underpin economic growth, Reuters reports. Starting on Jan....
  • China has scrapped the 'custody and education' system for sex workers and their clients. File photo: Reuters

    China ends extra-judicial forced labor for sex workers

    Dec 30, 2019 9:50am
    China’s parliament abolished on Saturday an extra-judicial system of forced labor used to punish sex workers and their clients for up to two years, Reuters reports, citing state media. The National People’s Congress voted to scrap...
  • China is taking steps to streamline listing procedures for firms eager to go public. Photo: Bloomberg

    China sets out move to liberalize IPO rules

    Dec 30, 2019 9:24am
    China will gradually liberalize rules governing initial public offerings (IPOs), expanding a simple registration-based route to market rather than the current system of pre-approval by regulators, Reuters reports, citing an amended Securities Law that was approved...
  • Smaller cities will benefit from the relaxation of China’s household registration system as they get to draw in migrants from other parts of the country to help boost labor supply and local consumption. Photo: Reuters

    Small cities to get a lift as China relaxes ’hukou’ system

    - Dec 30, 2019 8:00am
    China is eliminating the hukou, or household registration system, in cities with less than 3 million residents and relaxing the rule in cities with populations of 3 million to 5 million, according to a statement released...
  • Working under tight time pressures and constant watch of their employers as well as customers, delivery service personnel in China are a stressed out lot. Photo: Bloomberg

    A crime spurs debate on work conditions of China delivery people

    - Dec 27, 2019 12:09pm
    A delivery man of Meituan Dianping, a food delivery giant in China, stabbed a supermarket employee to death a few days ago. The tragedy raised concerns about the poor treatment of deliverymen and the immense work...
  • Chinese President Xi Jinping delivers a speech in Macau on Dec. 18 with the territory’s outgoing leader Fernando Chui standing at his side. With Chui giving way to a new CE, there is speculation in relation to his political future. Photo: Reuters

    Will Macau’s Fernando Chui be elevated to the CPPCC?

    - Dec 27, 2019 11:18am
    Hot on the heels of the inauguration of Ho Iat-seng as Macau’s third chief executive last Friday, there is chatter within the political circles as to whether his predecessor Fernando Chui Sai-on can advance his political...
  • A Chinese court has convicted the former chairman of Hengfeng Bank of corruption and other misdeeds. Photo: Bloomberg

    Hengfeng Bank ex-chair sentenced to death with 2-year reprieve

    Dec 27, 2019 9:57am
    The former chairman of China’s troubled Hengfeng Bank has been sentenced to death with a two-year reprieve, Reuters reports. Jiang Xiyun was convicted of corruption, receiving bribes, illegally issuing financial notes, and illegally destroying accounting vouchers...
  • A Chinese regulator has noted that some banks in villages and townships have deviated from their original mission of serving rural and smaller firms. Photo: Reuters

    China tightens rules for smaller banks in villages, towns

    Dec 27, 2019 9:48am
    China’s banking and insurance regulator has tightened the operating rules for smaller banks in villages and towns as part of efforts to reduce financial risks caused by mismanagement, Reuters reports. “A few banks in villages and...
  • Tesla has secured new financing from Chinese banks as the company sets up a factory in Shanghai. Photo: Reuters

    Tesla gets US$1.29 bln loan from China banks for Shanghai plant

    Dec 27, 2019 9:28am
    US electric-car maker Tesla has entered into agreements with lenders in China for a secured term loan facility of up to 9 billion yuan (US$1.29 billion), Reuters reports, citing a regulatory filing on Thursday. The company...
  • As China seems to interpret the law to mean whatever it wants it to mean, many Hongkongers feel Chinese officials, and their surrogates in HK, are not to be trusted, the author observes. Photo: Reuters

    2019: The year China’s Hong Kong chickens came home to roost

    - Dec 27, 2019 8:00am
    Zhou?Enlai, premier of the People’s Republic of China from 1949 until his death in 1976, used to say: “We Chinese mean what we say.” China’s word was its bond. This year, the People’s Republic of China...
  • Taiwanese flags are seen during a rally in Hong Kong earlier this year against a government plan to overhaul the extradition law. As Taiwan heads to a presidential election, the events in HK have become an underlying theme. Photo: AFP

    Why HK-Taipei relations could get increasingly complicated

    - Dec 24, 2019 3:57pm
    Last Saturday, two opposing mass rallies took place simultaneously in the city of Kaohsiung in Taiwan. One was a gathering in support of Han Kuo-yu, the city mayor who is contesting Taiwan’s 2020 presidential contest as...
  • China has dismissed allegations of forced labor of foreign prisoners at a Shanghai prison as 'farce'. Photo: Reuters

    China denies allegations of forced labor at Shanghai prison

    Dec 24, 2019 10:11am
    China dismissed accusations of forced labor at a Shanghai prison on Monday, a day after a media report said a message had been found in a Christmas card claiming that it had been packed by inmates....
  • Beijing has announced further measures as it seeks to boost imports amid a trade war with the United States. Photo: Reuters

    China to lower import tariffs on some products from Jan 1

    Dec 23, 2019 11:49am
    China will lower tariffs on some products, including frozen pork and avocado and some type of semiconductors, next year, Reuters reports, citing the finance ministry. The country will implement temporary import tariffs, which are lower than...
  • A man rides a motorcycle through the Sai Van Bridge facing Zhuhai Hengqin Island in Macau. A housing project in Hengqin is expected to ease Macau’s housing shortage problem. Photo: Reuters

    Macau close to launching a public housing project in Hengqin

    - Dec 23, 2019 10:07am
    Macau and Zhuhai governments have since beginning of the year started planning on a housing project in Hengqin Island. If things go without a hitch, the residential development may soon invite applications from potential homebuyers. Hengqin...
  • Technology to regulate intelligent finance has largely lagged development, a Chinese think-tank has said. Photo: Bloomberg

    China think-tank calls for regulation of AI in finance

    Dec 23, 2019 9:51am
    China should introduce a regulatory framework for artificial intelligence (AI) in the finance industry, and enhance technology used by regulators to strengthen industry-wide supervision, policy advisers at a leading think-tank said on Sunday, Reuters reports. “We...
  • A spike in pork prices has prompted China to ease curbs on imports of Japanese beef. Photo: Reuters

    China lifts ban on some Japanese beef imports

    Dec 23, 2019 9:41am
    China has lifted a ban on deboned beef from Japanese cows under 30 months old, ending an almost two-decade long restriction on beef imports from the country, Reuters reports. The decision comes as China faces severe...
  • Tesco says it has launched an investigation after allegations that a Chinese supplier of Christmas cards may have used prison labor. Photo: Reuters

    Tesco suspends Chinese supplier after prisoner labor report

    Dec 23, 2019 8:42am
    British supermarket chain Tesco suspended a Chinese supplier of Christmas cards after a press report said a customer found a message written inside a card saying it had been packed by foreign prisoners who were victims...
  • President Xi Jinping speaks at a ceremony marking the 20th anniversary of Macau’s return to Chinese rule, in Macau on Friday. Photo: Reuters

    China won’t allow foreign forces to interfere in HK, Macau: Xi

    Dec 20, 2019 4:16pm
    President Xi Jinping said on Friday China would never allow foreign forces to interfere with its special regions of Hong Kong and Macau, as he swore in a new pro-Beijing government for the gambling hub of...
  • President Xi Jinping arrives in Macau on Wednesday to celebrate the 20th anniversary of its handover to China. Plans to develop the economy of the former Portuguese enclave are hampered by its limited land area. Photo: Reuters

    The best possible gift Xi Jinping can give Macau

    - Dec 19, 2019 11:49am
    President Xi Jinping is visiting Macau to celebrate the 20th anniversary of its return to the control of China. It’s widely expected that Xi will announce new policies to help the former Portuguese colony further diversify...