4 h. ago ‘It’s tough, but good luck’: China eatery refunds meal payment to job

A street snack eatery in Shenzhen refunded 13 yuan (US$2) to uplift two young university graduates new to the city, and the gesture moved many people online. The two young women, Liu and Song, hailing from Hunan and Jiangxi provinces respectively, travelled to Guangdong in southern China for better job opportunities on August 15. On August 16, they visited a branch of Shaxian Delicacies, a well-known street snack chain in Longgang District, where they ordered food totalling 13 yuan and discussed...

Politics

21 h. ago Kenya’s plan to switch debt payments from US dollars to yuan is a ‘win

Kenya’s plan to convert its US dollar-denominated Chinese debt to yuan is a “win-win”, as it is expected to reduce interest payments for the African nation while advancing China’s goal of increasing the global use of its currency, according to analysts. The deal would be precedent-setting and could establish a new rule book for future debt restructuring and possibly cut reliance on the US dollar. In late August, Kenya’s Treasury announced that talks with the Export-Import Bank of China were at...

Economics

38 h. ago Russia's Nornickel says China payments problem persists after Xi

Russia's Nornickel says China payments problem persists after Xi-Putin meetings  Reuters

Politics

2 w. ago Navy sailor faces life in prison after selling military secrets to China for $12K payment

Navy sailor faces life in prison after selling military secrets to China for $12K payment  Fox News

Events

2 w. ago Kuaishou to pay first dividend since Hong Kong IPO as AI tools lift results

Kuaishou Technology on Thursday declared a special dividend totalling HK$2 billion (US$256 million), marking the first time China’s No 2 short video app operator will make such payment since its US$5.4 billion Hong Kong listing in 2021. The Beijing-based company said it would pay a special dividend of HK$0.46 per share after reporting better-than-expected financial results in the second quarter, driven by gains made from its artificial intelligence tools, according to its filing. Dividend...

Economics

2 w. ago Is US trade policy for sale? America’s partners deserve an answer

Any lingering doubts about the extent to which US President Donald Trump has rewritten the rules of global trade should have been laid to rest with reports that chip giants Nvidia and AMD have agreed to pay the US government 15 per cent of the revenue from chip sales in China. The payments are a quid pro quo for approval of the export licences needed to sell semiconductors critical to China’s artificial intelligence (AI) ambitions. The previously stalled licences were approved by the Commerce...

Events

3 w. ago China’s Xi Jinping calls for ‘no delay’ in private sector protection

In another show of support for China’s private sector, Beijing has released the details of a speech from President Xi Jinping which included vows the country would guarantee a level playing field for private firms, safeguard entrepreneurs’ lawful rights and interests, and step up efforts to solve their long-standing challenges, including overdue payments. The full address, delivered in February to a group of China’s leading entrepreneurs, had not been made available to the public before Friday,...

Politics

3 w. ago Apple eyes Douyin Pay for China App Store while speculation swirls on new iPhone

Apple has started testing Douyin Pay as a new mobile payment service on its China App Store, according to mainland media reports, while purportedly leaked images of the iPhone 17 stirred up discussion on Chinese social media this week. Once tests are completed, Douyin Pay is expected to serve as the fourth payment platform on the mainland App Store, after Ant Group’s Alipay, Tencent Holdings’ WeChat Pay and state-run China UnionPay, according to reports on Tuesday by online local media IThome...

Politics

3 w. ago Emerging countries' debt payments to private lenders dwarf those to China

Emerging countries' debt payments to private lenders dwarf those to China  Reuters

Economics