Tag: Chinas

China’s Xi Jinping spotlights Shenzhen as future for economic growth, Hong Kong given back seat

China’s President Xi Jinping praised the tech-hub city of Shenzhen in a landmark speech on Wednesday, leaving some puzzling over the future of nearby Hong Kong, as China’s traditional global foothold.

Xi said Shenzhen, often dubbed China’s Silicon Valley and home to tech giants Huawei and Tencent, was making “historic leaps” and “achieving miracles.”

He also announced that the area would be given more leeway to pursue opening-up reforms and become a “model city for a strong socialist country.”

Once a small fishing village adjacent to Hong Kong, Shenzhen is now home to about 13 million and was transformed in 1980 by veteran Chinese leader Deng Xiaoping, after he designated it a “Special Economic Zone,” carving out capitalist privileges in the staunchly communist country.

Retracing Deng’s footprints 40 years later during his own southern tour this week, Xi announced Shenzhen would again become a testing ground for foreign investment and

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China’s Xi promises changes to promote tech center Shenzhen

BEIJING (AP) — President Xi Jinping promised Wednesday new steps to back development of China’s biggest tech center, Shenzhen, amid a feud with Washington that has disrupted access to U.S. technology and is fueling ambitions to create Chinese providers.



In this photo released by China's Xinhua News Agency, Chinese President Xi Jinping, center, and other leaders applaud during an event to commemorate the 40th anniversary of the establishment of the Shenzhen Special Economic Zone in Shenzhen in southern China's Guangdogn Province, Wednesday, Oct. 14, 2020. Xi promised Wednesday new steps to back development of China's biggest tech center, Shenzhen, amid a feud with Washington that has disrupted access to U.S. technology and is fueling ambitions to create Chinese providers. (Zhang Ling/Xinhua via AP)


© Provided by Associated Press
In this photo released by China’s Xinhua News Agency, Chinese President Xi Jinping, center, and other leaders applaud during an event to commemorate the 40th anniversary of the establishment of the Shenzhen Special Economic Zone in Shenzhen in southern China’s Guangdogn Province, Wednesday, Oct. 14, 2020. Xi promised Wednesday new steps to back development of China’s biggest tech center, Shenzhen, amid a feud with Washington that has disrupted access to U.S. technology and is fueling ambitions to create Chinese providers. (Zhang Ling/Xinhua via AP)

Xi made the remarks in a speech marking the 40th anniversary of the former fishing village adjacent to Hong Kong being declared

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China’s trade growth accelerates in Sept; exports up 9.9%

China’s trade picked up in September as exporters benefited from the country’s relatively early reopening from pandemic shutdowns and strong global demand for masks and medical supplies

BEIJING — China’s trade picked up in September as global demand for masks and medical supplies boosted exports and the economy’s early reopening gave producers an edge over foreign competitors.

Exports rose 9.9% over a year earlier to $239.8 billion, up from August’s 9.5%, the fourth straight month of growth, customs data showed Tuesday. Imports gained 13.2% to $202.8 billion, up from the previous month’s 2.1% contraction as the world’s second-largest economy regained momentum.

Exports had a “comprehensive recovery” in the three months ending in September, said a spokesman for the customs agency, Li Kuiwen. He said China has exported masks and other medical supplies worth 1 trillion

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China’s Mars Probe Tianwen-1 Sends Home Selfies Captured 15 Million Miles From Earth

KEY POINTS

  • The CNSA released new selfies of Tianwen-1 captured 15 million miles away from Earth
  • The Mars probe took images of itself using a tiny camera ejected from the spacecraft
  • Tianwen-1 is expected to reach the red planet in February 2021

Talk about a clever way to take self-portraits in space! Tianwen-1 has snapped some selfies while in outer space using a camera ejected from its spacecraft.

While on its way to Mars, Tianwen-1 sent home new images of itself captured 15 million miles away from Earth. They were released by the China National Space Administration earlier this month as part of the country’s national day celebrations.

The small camera the Mars probe used to snap selfies had wide-angle lenses on each side and took one photo every second. It sends the images it takes to Tianwen-1, which would then transmit the pictures to Earth.

One of the many

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Here’s a first glimpse of China’s digital yuan



Yuan bank notes.


© Provided by Quartz
Yuan bank notes.

China’s long-anticipated digital yuan has arrived in the wallets of some ordinary citizens.

Beijing began exploring a digital currency in 2014, with the project going into high gear in 2017—the same year the country cracked down on cryptocurrency trading. The digital yuan is very much not a cryptocurrency; like the regular yuan, it is under the control of the People’s Bank of China, and will be rolled out with the help of the country’s largest commercial banks. After conducting small-scale trials earlier this year, China began its largest test yet yesterday, with 200 yuan ($30) worth of the virtual money issued to 50,000 citizens in the southern tech hub of Shenzhen through a lottery.

The pilot comes as the Chinese president Xi Jinping prepares to visit Shenzhen tomorrow (Oct. 14) to celebrate the 40th anniversary of the country’s establishment of its first special

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China’s Quiet Experiment Let Millions View Long-Banned Websites

(Bloomberg) — In a quiet experiment of just two weeks, China provided millions of people access to long-forbidden foreign websites like YouTube and Instagram. The trial appears to signal the Communist government is moving toward giving the country’s citizens greater access to the global internet — while still attempting to control who sees what.



a person wearing a hat: An attendee uses her smartphone ahead of the keynote speech at Tencent Holdings Ltd.'s WeChat Open Class Pro conference in Guangzhou, China, on Monday, Jan. 15, 2018.


© Bloomberg
An attendee uses her smartphone ahead of the keynote speech at Tencent Holdings Ltd.’s WeChat Open Class Pro conference in Guangzhou, China, on Monday, Jan. 15, 2018.

The Tuber browser-app, backed by government-linked 360 Security Technology Inc., appeared without fanfare late September and offered for the first time in years a way to view long-banned websites from Facebook Inc. to Google and the New York Times, albeit sanitized versions. Chinese users rejoiced in a newfound ability to directly peruse long-blocked content from a mobile browser without an illegal virtual private network or VPN.

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Why US sanctions on China’s Ant Group may be an empty threat

Washington could soon expand its war against Chinese tech companies by setting its sights on Ant Group, the crown jewel of billionaire Jack Ma’s empire.



a group of people performing on a counter: People walk past the Ant Group Co. mascot displayed at the company's headquarters in Hangzhou, China, on Monday, Sept. 28, 2020. Jack Ma's Ant Group is seeking to raise $17.5 billion in its Hong Kong share sale and won't seek to lock in cornerstone investors, confident there will be plenty of demand for one of the largest equity deals in the financial hub, according to people familiar with the matter. Photographer: Qilai Shen/Bloomberg via Getty Images


© Qilai Shen/Bloomberg via Getty Images
People walk past the Ant Group Co. mascot displayed at the company’s headquarters in Hangzhou, China, on Monday, Sept. 28, 2020. Jack Ma’s Ant Group is seeking to raise $17.5 billion in its Hong Kong share sale and won’t seek to lock in cornerstone investors, confident there will be plenty of demand for one of the largest equity deals in the financial hub, according to people familiar with the matter. Photographer: Qilai Shen/Bloomberg via Getty Images

But there doesn’t appear to be much the US government could do to realistically hurt the digital finance company. Unlike other Chinese tech firms that have drawn the ire of Washington, Ant does little business in the United States.

Ant Group was

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China’s digital yuan tests leap forward in Shenzhen

Shenzhen, known for its maker community and manufacturing resources, is taking the lead in trialing China’s digital yuan.

Last week, the city issued 10 million yuan worth of digital currency to 50,000 randomly selected residents who applied. The government doled out the money through mobile “red envelopes,” a tool designed to digitize the custom of gifting money in red packets and first popularized by WeChat’s e-wallet.

“Red packets are a common way we’ve seen in China Internet companies to spur adoption like what we’ve seen with Tencent WeChat and Alibaba’s Alipay in the early days, when these products were first launched,” Flex Yang, CEO of crypto finance firm Babel Finance, told TechCrunch.

The digital yuan is not to be mistaken as a form of cryptocurrency. Rather, it is issued and managed by the central bank, serving as the statutory, digital version of China’s physical currency and giving Beijing a better

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70% of video game revenue in world’s top market comes from China’s smaller cities, report finds

  • Video games are booming in China’s smaller cities, with citizens there accounting for more than half of revenue nationally, according to a recent report by Niko Partners.
  • The country is the world’s top game market and will generate an estimated $40.85 billion in revenue this year, according to Newzoo.



a statue of a person: People visit the stand of Tencent's mobile game 'Glory of Kings' during the 2020 China Digital Entertainment Expo & Conference (ChinaJoy) at Shanghai New International Expo Center on July 31, 2020 in Shanghai, China.


© Provided by CNBC
People visit the stand of Tencent’s mobile game ‘Glory of Kings’ during the 2020 China Digital Entertainment Expo & Conference (ChinaJoy) at Shanghai New International Expo Center on July 31, 2020 in Shanghai, China.

SINGAPORE — Video games are booming in China’s smaller cities, with citizens there accounting for more than half of revenue nationally, according to a recent report by Niko Partners.

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“76% of gamers in China live in Tier 3-5 cities, accounting for 70% of game revenue,” Niko Partners said in a synopsis of its China Gamers Report.

Cities in China are classified

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China’s smaller cities spend the most on video games nationally: Report

People visit the stand of Tencent’s mobile game ‘Glory of Kings’ during the 2020 China Digital Entertainment Expo & Conference (ChinaJoy) at Shanghai New International Expo Center on July 31, 2020 in Shanghai, China.

Zhou You | VCG via Getty Images

SINGAPORE — Video games are booming in China’s smaller cities, with citizens there accounting for more than half of revenue nationally, according to a recent report by Niko Partners.

“76% of gamers in China live in Tier 3-5 cities, accounting for 70% of game revenue,” Niko Partners said in a synopsis of its China Gamers Report.

Cities in China are classified by tiers based loosely on population and economic size. For example, places such as capital Beijing and Shenzhen are generally considered tier-one cities, while lower-tier cities are smaller.

The country is the world’s top game market and will generate an estimated $40.85 billion in revenue this year, according

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