Tag: Chinese

Chinese chip giant SMIC ‘in shock’ after US trade ban threat

By Leo KelionTechnology desk editor image copyrightGetty Images/SMIC China’s largest chip manufacturer’s stock sank after the US revealed it could be its next trade ban target. Semiconductor Manufacturing International Corporation (SMIC) said it was “in complete shock and perplexity” after the Pentagon revealed it had proposed the firm be added to a government blacklist. This would restrict suppliers from providing… Read more →

Read more →

Coronavirus: Chinese economy bounces back into growth

Image copyright Getty Images China’s economy grew 3.2% in the second quarter following a record slump. The world’s second biggest economy saw a sharp decline in the first three months of the year during coronavirus lockdowns. But figures released on Wednesday show China’s Gross Domestic Product (GDP) returned to growth during April to June. The numbers are being closely watched… Read more →

Coronavirus: How Chinese rivals are trying to take Zoom’s crown

Image copyright Tencent Video meetings have become hugely important as the world adapts to the “new normal” of the pandemic. Even as lockdown rules ease, they’re a safe, convenient and free way to stay in touch for business and socialising. Zoom has become the app of choice for millions, overshadowing rival products from much larger companies such as Microsoft and… Read more →

Coronavirus: Chinese retail giant Alibaba sees ‘recovery’ after virus

Image copyright Getty Images Chinese e-commerce giant Alibaba said it has seen a “steady recovery” in the country since March, but warned that the path to an economic rebound remains uncertain. The firm’s sales grew 22% in the three months to 31 March, despite virus-related restrictions denting activity. The gain was stronger than expected, driven by demand for groceries, electronics… Read more →