Post Tagged with: "China technology"

China’s loss-making Luckin Coffee start-up doubles down on subsidies to win customers from Starbucks

China’s loss-making Luckin Coffee start-up doubles down on subsidies to win customers from Starbucks

Luckin Coffee, the loss-making challenger to Starbucks, is doubling down on its store expansion and consumer subsidies this year, with plans to open about 2,500 new outlets in the world’s most populous nation. That would bring the Xiamen-based start-up’s total number of stores in the country to more than 4,500, […]

Chinese AI, biotech talent in line for biggest increase in bonuses, according to survey

Chinese AI, biotech talent in line for biggest increase in bonuses, according to survey

Workers in China’s hi-tech industries will see the biggest increase in bonuses across sectors for 2018, defying a slowdown in economic growth, according to a survey released by state-owned human resources consultancy China International Intellectech on Wednesday. The average bonus for employees of companies in industries such as artificial intelligence, […]

Are we in danger of taking technology for granted and losing the magic of innovation?

Are we in danger of taking technology for granted and losing the magic of innovation?

Technology has become truly pervasive. It is wide and it is deep. It transcends industries, professions, economies (developed and emerging) and straddles the globe, showing no respect for borders or passports. Technology has presented us with a somewhat eccentric narrative over the years. In the 1950s and 1960s, technology was […]

Baidu CEO warns that ‘winter is coming’ amid slowing growth, economic restructuring

Baidu CEO warns that ‘winter is coming’ amid slowing growth, economic restructuring

Baidu chief executive Robin Li Yanhong warned that “winter is coming” as China’s economy shifts to a lower gear, while challenging employees at the company he co-founded to step up their game. While economic restructuring is “as cold and real as winter to every company,” Li said in a letter […]

China’s P2P lending crisis worsens as second firm runs into trouble in a week

China’s P2P lending crisis worsens as second firm runs into trouble in a week

Mainland China’s peer-to-peer (P2P) lending crisis showed no signs of abating after another big platform said it would not be able to repay investors 860 million yuan (US$125.4 million) when the debts expire this weekend. Xinhehui, a Hangzhou-based P2P operator which has conducted online lending businesses worth more than 210 […]

Huawei’s chairman posts bullish new year address, citing record revenue growth in face of difficulties

Huawei’s chairman posts bullish new year address, citing record revenue growth in face of difficulties

Huawei Technologies, the world’s largest telecommunications equipment vendor, expects to record a bullish 21 per cent jump in revenue for 2018 to US$108.5 billion, despite a series of setbacks for its global 5G business as its gear comes under closer scrutiny from the US and western governments over security concerns. […]

Britain’s defence secretary echoes the US with ‘grave, very deep concerns’ about Huawei

Britain’s defence secretary echoes the US with ‘grave, very deep concerns’ about Huawei

The UK’s defence secretary, Gavin Williamson, said he has ‘grave, very deep concerns’ about using equipment from Chinese firm Huawei Technologies in Britain’s 5G infrastructure. Williamson said the UK would need to examine the possible security threats as it upgrades its mobile networks over the next two years, according to The […]

JD.com restructures amid rising competition, slower growth and investor concerns

JD.com restructures amid rising competition, slower growth and investor concerns

China’s second largest e-commerce player, JD, has announced a restructuring of its main shopping site and the creation of an office of the chief executive to better serve its customer-centric strategy and allay investor concerns amid rapid changes in the country’s online shopping industry. The overhaul will divide JD Mall, the […]

China’s Bitmain Technology and Huobi plan layoffs as cryptocurrency crunch begins to bite

China’s Bitmain Technology and Huobi plan layoffs as cryptocurrency crunch begins to bite

Two of the world’s biggest cryptocurrency companies have confirmed lay-off plans amid an industry crunch that has seen US$170 billion wiped off bitcoin’s market value this year. Beijing-based Bitmain Technology, the world’s biggest maker of cryptocurrency mining rigs, said in a statement that the company is undergoing “some adjustment to […]

White House said to mull new year executive order to bar Huawei, ZTE purchases

White House said to mull new year executive order to bar Huawei, ZTE purchases

President Donald Trump is considering an executive order in the new year to declare a national emergency that would bar US companies from using telecommunications equipment made by China’s Huawei and ZTE, three sources familiar with the situation told Reuters.  It would be the latest step by the Trump administration […]