A view of the NEO magnetic plant in Narva, a city in northeastern Estonia. A plant producing rare-earth magnets for Europe’s electric vehicle and wind-energy sectors. Xinhua News Agency | Xinhua News Agency | Getty Images NARVA, Estonia — Europe’s big bet to break China’s rare earths dominance starts on Russia’s doorstep. The continent’s largest…
China’s “mega embassy” planned for London could act as Beijing’s “interference hub” for the whole of Europe, a group opposing the plan has told Newsweek. The proposed mission would consolidate seven Chinese diplomatic sites around London, and while the embassy has faced delays and not yet been approved, it could get the green light in January, it has been reported The Inter Parliamentary Alliance on China (IPAC) executive director, Luke de Pulford, told Newsweek on Thursday that the site “poses unacceptable risks” regarding security and espionage. …
The EU has for the first time launched a formal review of a price undertaking offer from a company seeking to avoid its tariffs on Chinese-made electric vehicles, following a submission from Volkswagen’s Chinese joint venture. Over the course of 12 to 15 months, the European Commission will examine whether VW Anhui can replace its…
China’s Nvidia challengers Moore Threads and MetaX are set for their hotly anticipated market debuts, driven by investor excitement over domestic demand for home-grown graphics processing units (GPUs) amid Beijing’s tech self-sufficiency drive. Moore Threads opened a subscription lottery last week at 114.28 yuan per share, the highest pricing among A-share listings this year, and…
Guangdong has named Huawei Technologies’ artificial intelligence chips and HarmonyOS operating system as flagship achievements in China’s drive for technological self-sufficiency. The push by China’s wealthiest province – whose gross domestic product is larger than that of South Korea – to highlight home-grown innovation came as local governments faced mounting peer pressure to support Beijing’s…
Backed by a booming tech sector and surging asset prices, the wealth of mainland China’s billionaires jumped 22.2 per cent year on year to US$1.77 trillion in the 12 months to early April, according to the report published on Thursday. With 70 new entrants, mainland China’s billionaire count rose to 470 from 427 – second…
The initial public offering (IPO) of HashKey Holdings, operator of Hong Kong’s largest cryptocurrency exchange, lays bare challenges faced by local platforms under Beijing’s watchful eye, even though the listing itself was recognition of the growing influence of digital assets in the city, according to analysts. HashKey, established in Hong Kong in 2018, on Monday…
A Beijing official in Hong Kong has voiced confidence in the city’s ability to handle both the coming Legislative Council election and the aftermath of the deadly Tai Po fire, calling local authorities’ decision to proceed with the poll respectful of the constitutional order. Liu Guangyuan, deputy director of Beijing’s liaison office in Hong Kong,…
A Beijing official in Hong Kong has voiced confidence in the city’s ability to handle both the coming Legislative Council election and the aftermath of the deadly Tai Po fire, calling local authorities’ decision to proceed with the poll respectful of the constitutional order. Liu Guangyuan, deputy director of Beijing’s liaison office in Hong Kong,…
Japan’s “Empress of Pop” Ayumi Hamasaki stood alone on a brightly lit stage in Shanghai, her voice echoing through a stadium filled with empty seats. Hours before showtime, she was informed that her concert could not proceed with an audience for “an inevitable reason”. The vague explanation has become familiar to organisers of Japanese cultural…