Huawei Technologies Co. will back Apple Inc. as it contests a U.S. government order requiring the unlocking of a terrorist’s iPhone, taking the side of the industry’s biggest names in a clash over the balance between law enforcement and consumer privacy.
China set a range for its economic growth target for the first time in two decades, saying the world’s second-largest economy would expand 6.5 percent to 7 percent this year, slower than last year’s goal of about 7 percent.
“This is insane,” said Chen Gang, chief investment officer for Shanghai Heqi Tongyi Asset Management, on Jan. 7, the day stock trading in China lasted only 29 wild minutes before market circuit breakers shut it down. Unlike some would-be sellers that day, he says he unloaded all his firm’s equity holdings by the time the exit door closed. The circuit breakers, put in place just a few days before, called for an all-day trading halt if shares dropped 7 percent.
While plenty of ink has been devoted to China's slowdown this year, the world's second-largest economy is still on track to grow somewhere close to 7 percent.
That's almost triple the forecast U.S. rate, nearly five times the eurozone, and more than 10 times Japan's expected clip, according to economists surveyed by Bloomberg News .
China is going to meet its economic growth target of about 7 percent for 2015, Sheng Laiyun of the National Bureau of Statistics reassured the world a few days ago. “China's economy,” Sheng said, “still has strong intrinsic tenacity, huge potential and ample leeway.”
China’s economy, already in the midst of a half-decade deceleration, won’t arrest its downward trajectory until at least 2018.
Six of 12 economists surveyed by Bloomberg last week say 2018 will be the turnaround year, while five said it will take until 2019 or after for growth to re-accelerate. The outlook underscores the challenge facing President Xi Jinping as he aims for gross domestic product gains averaging at least 6.5 percent per year for the next five years so he can deliver on his goal of doubling 2010 income and GDP levels.
It was standing room only at Tel Aviv’s Mad Men-inspired Zou Bisou Bar on Nov. 17. Representatives from more than 150 Israeli tech startups drank wine and beer, munched finger food and jostled to get a business card into the hands of an investment team from Alibaba Holding Group Ltd.
With its economy slowing down, China is re-inventing itself as the next Startup Nation.
A new report by UHY International, an accounting and consultancy firm based in London, unveiled data showing China is in pole position when it comes to entrepreneurship, spawning 4,000 new businesses a day.
For years now, China’s elaborate efforts to censor and control the Internet -- collectively known as the Great Firewall -- have restricted what the world’sbiggest population of Netizens can see and how fast they can download. Until now, that hasn't been much of a problem for anyone besides locals and companies such as Facebook and Google hoping to sell to them.
China’s dominant ride-hailing app has powerful friends. Among the backers of the car-booking app Didi Kuaidi is Tencent, owner of the country’s most popular messaging app, WeChat. The service’s more than 600 million active users, most of whom reside in China, use the app to communicate with friends, as well as receive updates and coupons from many of their favorite domestic and foreign brands—with one major exception.