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Tag: China&#039s

China's answer to Las Vegas has one of the world's biggest per-person economies

China's answer to Las Vegas has one of the world's biggest per-person economies

Finance
Macau, known as China's answer to Las Vegas, is one of the wealthiest places in the world. In fact, according to the International Monetary Fund, it's expected to surpass Qatar in 2020 as the location with the highest gross domestic product per person on a purchasing power parity basis. Macau is located on China's southern coast about 40 miles from Hong Kong. Both cities are known as special administrative regions, which is a designation that grants them distinct rules and economic freedoms from the rest of China. Over the years, Macau has become a hotspot for China's h...
US jitters at China's tech push underlies trade war

US jitters at China's tech push underlies trade war

Technology
Shenzhen is the poster boy for China's economic progress. Forty years ago it was just a cluster of small villages lying across the water from bustling Hong Kong, before it was designated China's first "special economic zone".Now it's a city of some 11 million people and a technological powerhouse - the next Silicon Valley, according to many. Image: The technological powerhouse of Shenzhen is viewed as the next Silicon Valley That also means it's the front line in the incipient US-China tariff war, which is as much about technology as it is trade.:: China accuses 'hoodlum' Trump over trade warShenzhen built its name on manufacturing cheap electronics for export.Huaqiangbei is an electronics market that sprawls across st...
China's markets just became more important to the rest of the world after a landmark day

China's markets just became more important to the rest of the world after a landmark day

Finance
Close to 230 China A shares debuted on index provider MSCI's emerging markets benchmark on Friday, a move investors expect will attract billions of dollars in inflows to the mainland market. The partial inclusion of the A shares — yuan-denominated stocks traded on the mainland — to MSCI's Emerging Markets Index takes place in two phases, with the second step only coming in August. Among the names included were a mix of financials, consumer and developer names such as Kweichow Moutai, which makes premium liquor; BYD, an electric vehicle manufacturer; China's largest lender Industrial and Commercial Bank of China an...
Source: Trump administration has cut deal with China's ZTE

Source: Trump administration has cut deal with China's ZTE

Technology
The Trump administration has told Congress that it's reached a deal that would allow Chinese telecommunications giant ZTE Corp. to stay in business, a source familiar with the talks who spoke on condition of anonymity to discuss a confidential matter said Friday. A resolution of the ZTE case could clear the way for the United States to make progress in its high-stakes trade talks with China. But news of the agreement drew immediate fire on Capitol Hill. Under the agreement, ZTE would oust its management team, hire American compliance officers and pay a fine. The fine would come on top of the roughly $ 1 billion ZTE has already paid for selling equipment to North Korea and Iran in violation of U.S. sanctions. In return, the Commerce Department would lift a seven-year ban on ZTE's purchase...
China's defunct space lab hurtling toward Earth for re-entry

China's defunct space lab hurtling toward Earth for re-entry

Technology
China's defunct and reportedly out-of-control Tiangong 1 space station is expected to re-enter Earth's atmosphere sometime this weekend. It poses only a slight risk to people and property on the ground, since most of the bus-size, 8.5-ton vehicle is expected to burn up on re-entry, although space agencies don't know exactly when or where that will happen. Below are some questions and answers about the station, its re-entry and the past and future of China's ambitious space program. ——— WHAT WILL HAPPEN AND HOW GREAT IS THE DANGER? The European Space Agency predicts the station will re-enter the atmosphere between Saturday morning and Sunday afternoon — an estimate it calls "highly variable," likely because the ever-changing shape of the upper atmosphere affects the speed of objects fallin