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☆ From McDonald’s to Ralph Lauren, U.S. Companies Are Planning China Expansions
▼ + stars: | 2023-02-26 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

McDonald’s plans to open 3,000 new stores in China by 2025. HONG KONG—Large American companies from fast food to high-end fashion are increasing their bets on China’s consumers in anticipation of a postpandemic rebound for the world’s second-biggest economy. McDonald ’s Corp. and Starbucks Corp. are opening hundreds of new restaurants.

☆ Berkshire Hathaway Sheds Most of Its Stake in Chip Maker TSMC
▼ + stars: | 2023-02-15 | by ( Dave Sebastian | Dan Strumpf | ) www.wsj.com time to read: 1 min

Workers at a TSMC chip factory in Tainan, Taiwan, late last year. Warren Buffett ’s Berkshire Hathaway Inc. sold billions of dollars worth of shares in a Taiwanese chip maker just months after taking a stake in the company. The Omaha, Neb.-based conglomerate cut its position in Taiwan Semiconductor Manufacturing Co. by 51.8 million shares in the last three months of 2022, according to a regulatory filing Tuesday. That was roughly 86% of its investment.

☆ From Apple to VW, CEOs Gradually Returning to China After Its Reopening
▼ + stars: | 2023-02-12 | by ( Dan Strumpf | Yoko Kubota | ) www.wsj.com time to read: 1 min

Volkswagen CEO Oliver Blume was among the first top executives from a multinational company to visit China since it scrapped most of its border restrictions. BEIJING—Top executives from multinational companies are trickling back into China with the country’s reopening, as Beijing seeks to restore confidence from global businesses in its struggling economy and attract investments. Volkswagen AG’s chief executive visited China from late January to early February, the company said, while Apple Inc. CEO Tim Cook and Pfizer Inc. CEO Albert Bourla are expected to visit next month, people familiar with the matter said. Ola Källenius , Mercedes-Benz Group AG’s chairman, also plans a visit to China, the company said.

☆ CBD Gummies, Beer Are Trashed as Hong Kong Bans Cannabis Compound
▼ + stars: | 2023-01-31 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

Hong Kong’s ban on products containing CBD threatens penalties of up to seven years in prison for possession. HONG KONG—Businesses and residents are dumping their CBD products ahead of a new law starting Wednesday that criminalizes possession of the cannabis derivative, ranking it alongside heroin and cocaine. Products like oils, drinks and gummies infused with CBD, or cannabidiol, have been disappearing from store shelves in recent weeks. Authorities placed disposal boxes around the city for users to offload CBD-laced items. Business owners are slashing prices on remaining stock, throwing fire-sale parties and converting storefronts as they shift into new lines of business before the law takes effect.

☆ China’s Top Nuclear-Weapons Lab Used American Computer Chips Decades After Ban
▼ + stars: | 2023-01-29 | by ( Liza Lin | Dan Strumpf | ) www.wsj.com time to read: 1 min

A Nvidia GeForce RTX graphics card. Nvidia said the semiconductors used in the Chinese institute’s research were general-purpose graphics chips. SINGAPORE—China’s top nuclear-weapons research institute has bought sophisticated U.S. computer chips at least a dozen times in the past two and half years, circumventing decades-old American export restrictions meant to curb such sales. A Wall Street Journal review of procurement documents found that the state-run China Academy of Engineering Physics has managed to obtain the semiconductors made by U.S. companies such as Intel Corp. and Nvidia Corp. since 2020 despite its placement on a U.S. export blacklist in 1997.

☆ Disney Gets Boost as China Clears Marvel Superhero Films for Release
▼ + stars: | 2023-01-18 | by ( Dan Strumpf | Rachel Liang | ) www.wsj.com time to read: 1 min

Marvel Studios said on its Weibo social-media account that the latest Black Panther film would be released in China on Feb. 7. HONG KONG—China has cleared two of Walt Disney Co.’s Marvel movies for screening in the country, a significant victory for Hollywood after years of tighter Chinese restrictions on new releases. Disney’s Marvel Studios said on Chinese social media that two of its films, “Black Panther: Wakanda Forever” and “Ant-Man and the Wasp: Quantumania,” will hit Chinese theaters next month.

☆ China International Flights to Recover Slowly After Covid Reopening
▼ + stars: | 2023-01-12 | by ( Rachel Liang | Dan Strumpf | ) www.wsj.com time to read: 1 min

International flights are likely to rebound slowly after China lifted its Covid-19 border restrictions, with industry experts suggesting it would take months for a strong recovery and even longer to return to prepandemic levels. Governments have tightened entry requirements for passengers coming from China due to a large Covid-19 outbreak there, and Beijing has responded with travel restrictions of its own on some of those countries. Aviation regulators are still negotiating bilaterally with their Chinese counterparts on increasing flights. Plane ticket prices remain high, while airlines must also reroute their jets to fly again to China.

Liza LinLiza Lin covers Asia technology news for The Wall Street Journal from Singapore, focusing mostly on China, the internet, supply chains and surveillance. In 2021, Liza was part of a team at the Journal that was named a finalist for the Pulitzer Prize in International Reporting, for their coverage of Chinese leader Xi Jinping. Liza, alongside other Journal reporters, won the Gerald Loeb Award for International Reporting in 2018 for a series of stories on China's surveillance state. Liza is the co-author with Journal colleague Josh Chin of the book "Surveillance State: Inside China’s Quest to Launch a New Era of Social Control." A Fulbright scholar, she has also worked for Bloomberg News in Singapore and China.

Persons: Liza Lin Liza Lin, Liza, Xi Jinping, Gerald Loeb, Josh Chin Organizations: Wall, New York Press Club, Society of Publishers, Social Control, Bloomberg News Locations: Asia, Singapore, China, Shanghai

☆ Chinese Factories, Restaurants Adjust to Life Without Zero-Covid
▼ + stars: | 2023-01-01 | by ( Dan Strumpf | Liza Lin | ) www.wsj.com time to read: 1 min

Some restaurants in China reported a decrease in customers after Covid-19 restrictions were eased. After three years of “zero-Covid” economic disruption, many Chinese businesses awoke to a happy new reality in December: No more restrictions. But before they can take advantage, business owners in the world’s second-largest economy say, they have to get their supply chains in order after a topsy-turvy time capped by this abrupt reversal—and withstand a wave of Covid-19 cases sweeping through employee ranks.

☆ Huawei Says It Is Out of ‘Crisis Mode’ as Annual Revenue Stabilized
▼ + stars: | 2022-12-30 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

HONG KONG—Huawei Technologies Co. said it has exited “crisis mode” following punishing U.S. restrictions, as it reported growth in its telecom infrastructure business and flat overall revenue for 2022. restrictions are now our new normal, and we’re back to business as usual,” said Eric Xu , Huawei’s current chairman, in a New Year’s message to employees that was released by the company.

☆ Chinese Pharmacies Struggle to Stock Medication as Covid Spreads
▼ + stars: | 2022-12-23 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

BEIJING—Pharmacies across China reported shortages of ibuprofen, paracetamol and other fever medication as the country struggles to cope with a surge of Covid-19 cases, weeks after Beijing abandoned its three-year effort to contain the fast-spreading virus. Officials in Beijing deny that there is a shortage of drugs or medical equipment, and have brushed aside offers of help from the U.S. to supply vaccines and other medical goods.

☆ Huawei Reaches Technology-Licensing Deal With Nokia Despite U.S. Restrictions
▼ + stars: | 2022-12-23 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

Huawei is one of the largest holders of wireless-technology patents globally. HONG KONG—Huawei Technologies Co. and Nokia Corp. reached a deal to continue licensing smartphone and networking technology to each other, reflecting the challenges in unwinding the Chinese company’s technology from global networks despite years of U.S. sanctions. The patent-licensing agreement announced Friday between the two companies extends a five-year-old technology-sharing deal that had been set to expire this year. It comes weeks after Huawei unveiled a licensing agreement for 5G technology with Chinese smartphone rival Oppo Mobile Telecommunications Corp.

☆ China’s Workers Are Calling In Sick With Covid After Beijing’s U-Turn
▼ + stars: | 2022-12-20 | by ( Selina Cheng | Dan Strumpf | ) www.wsj.com time to read: 1 min

HONG KONG—China’s factories are confronting a new reality after the nation’s sharp U-turn from its zero-Covid policy: Their workers are often out sick or working alongside colleagues who have come down with the virus. Beijing began lifting many of its harshest Covid-19 restrictions earlier this month, including strict quarantines and mandatory testing requirements that have angered large parts of its population and disrupted the economy.

☆ Chinese Air Travel Surges After Easing of Covid Restrictions
▼ + stars: | 2022-12-19 | by ( Dan Strumpf | Benjamin Katz | ) www.wsj.com time to read: 1 min

Chinese airlines are rapidly increasing their domestic flight schedules after Beijing’s relaxation of Covid-19 restrictions sparked a rise in demand for air travel, the potential start of what could be a tailwind for the global aviation industry. China had been set to overtake the U.S. as the world’s largest aviation market before Covid hit but the country has been among the slowest to recover from the pandemic-era collapse in air travel. Now, after widespread protests prompted Beijing to review its stringent zero-Covid protocols, Chinese airlines are putting on more flights and offering discounts and promotions to get travelers back in the skies.

☆ Shanghai Disneyland Reopens as Businesses in China Welcome Covid-Control Easing
▼ + stars: | 2022-12-09 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

HONG KONG—Shanghai Disneyland reopened Thursday as cautious optimism spread across foreign businesses operating in China following the easing of some of Beijing’s most-draconian pandemic measures, even as hurdles remained in the country’s exit from zero-Covid. Foreign companies from Walt Disney Co. to Starbucks Corp. and Apple Inc. have taken revenue hits or endured business or supply-chain upheavals in the wake of China’s harsh Covid-control measures, which included citywide lockdowns, mass testing and widespread quarantines.

☆ Warren Buffett-Backed Electric-Car Giant BYD Halts Spinoff of Chip Unit
▼ + stars: | 2022-11-16 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

HONG KONG—Chinese electric-car company BYD Co. said it was pausing the planned spinoff of its chip subsidiary, opting to focus on boosting the unit’s automotive-semiconductor output to meet rising demand for electric vehicles. Warren Buffett -backed BYD said in a filing Tuesday that it was shelving the spinoff of BYD Semiconductor and the company’s listing on the Shenzhen Stock Exchange until an unspecified date. It said it instead plans to accelerate investments in expanding its chip-making capacity, building on a recent investment in a chip factory in Jinan, in eastern China.

☆ Buffett-Backed Electric-Car Giant BYD Halts Spinoff of Chip Unit
▼ + stars: | 2022-11-16 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

HONG KONG—Chinese electric-car giant BYD Co. said it is pausing the planned spinoff of its chip subsidiary, opting to focus on boosting the unit’s automotive-semiconductor output to meet rising demand for electric vehicles. Warren Buffett -backed BYD said in a filing on Tuesday that it is shelving the spinoff of BYD Semiconductor and the company’s listing on the Shenzhen Stock Exchange until an unspecified date. It said it instead plans to accelerate investments in expanding its chip-making capacity, building on a recent investment in a chip factory in Jinan, in eastern China.

☆ China’s Billionaires See Huge Losses as Economy, Markets Sputter
▼ + stars: | 2022-11-10 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

HONG KONG—China’s richest saw the biggest drop in their collective wealth in decades over the past year, as the country’s stock markets plunged and the economy slowed, in large part due to Beijing’s zero-tolerance policy toward Covid-19. Both the Forbes and Hurun Rich List of China’s wealthiest people released this week showed a sharp drop in the fortunes of the country’s tycoons. Forbes on Thursday said China’s 100 richest saw their collective wealth decline by $573 billion since last year’s rankings, the biggest drop since the magazine began tracking the country’s wealthiest more than two decades ago.

☆ Gap Sells Its China Business After 12 Years
▼ + stars: | 2022-11-08 | by ( Ben Otto | Dan Strumpf | ) www.wsj.com time to read: 1 min

SINGAPORE— Gap Inc. will sell its business in China and Taiwan to Chinese e-commerce services provider Baozun Inc. for up to $50 million, bringing an end to a bumpy 12-year foray in the region. Baozun, which is listed both on the Nasdaq and in Hong Kong, said Tuesday that it had signed a deal to acquire Gap Greater China, a unit of San Francisco-based Gap, in an all-cash transaction with a primary consideration of $40 million, subject to adjustments within a limit of $50 million. The deal, expected to be completed in the first half of 2023, is subject to regulatory approval.

Nvidia’s new chip is a response to the Biden administration’s new rules restricting exports of American chip technology to China. HONG KONG— Nvidia Corp. has begun offering an alternative to a high-end chip hit with U.S. export restrictions to customers in China, after the new rules threatened to cost the American company hundreds of millions of dollars in lost revenue. Nvidia said the new graphics-processing chip, branded the A800, meets U.S. restrictions on chips that can be exported to China under new rules rolled out last month. The chip went into production in the third quarter, the company said.

☆ Elon Musk Says Blocked Twitter Users Won’t Be Allowed Back Until Process in Place
▼ + stars: | 2022-11-02 | by ( Dan Strumpf | Thomas Derpinghaus | ) www.wsj.com time to read: 1 min

Elon Musk said Twitter Inc. won’t let anyone who was removed from the service for violating its rules back on the platform until the company has a clear process in place, which he said will take at least a few weeks. Mr. Musk, who recently completed a $44 billion takeover of the company, said on Twitter early Wednesday that he had spoken to a number of civil society leaders about how the company “will continue to combat hate & harassment & enforce its election integrity policies.”

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☆ Huawei Posts Rare Climb in Revenue as Business Stabilizes
▼ + stars: | 2022-10-27 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

HONG KONG—Huawei Technologies Co. recorded its second straight quarter of higher revenue during the third quarter, as signs emerged that its business has begun to stabilize following years of punishing U.S. sanctions. Revenue at the Chinese telecom giant rose 6.5% to 144.2 billion yuan, or about $20 billion, during the third quarter compared with a year ago, according to calculations based on unaudited financial figures released by the privately held company Thursday.

☆ Hong Kong Scraps Screening of Batman Film on Censors’ Urging
▼ + stars: | 2022-10-21 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

‘The Dark Knight’ was set to be shown next week at a popular outdoor event space, The Grounds, on Hong Kong’s waterfront. HONG KONG—Organizers scrapped an outdoor screening of a Batman film, which featured a Chinese gangster and was partially filmed in Hong Kong, following a recommendation from the city’s film censors. Organizers of the film said they were advised by the city’s film regulator not to proceed with the Oct. 27 screening of “The Dark Knight” because it was too violent for an outdoor venue. The 2008 film was set to be screened at a popular outdoor event space on the city’s waterfront.

☆ Flying to China in Economy Class Will Cost You $5,000
▼ + stars: | 2022-10-17 | by ( Dan Strumpf | ) www.wsj.com time to read: 1 min

HONG KONG—China is creaking open the door to international travel, but getting into the country comes with a cost—thousands of dollars for a flight. Michael Hart this summer made his first trip from China since the pandemic began. The country maintains some of the world’s toughest pandemic border controls. After visiting family in the U.S. and dropping his son off at college, he paid $3,000 for his return flight, which required a stopover and quarantine stay in Hong Kong before an onward flight to China, where he quarantined again.

☆ U.S. Chip Curbs Threaten China’s Emerging Manufacturers
▼ + stars: | 2022-10-10 | by ( Dan Strumpf | Liza Lin | ) www.wsj.com time to read: 1 min

HONG KONG—U.S. restrictions on exports of chips and chip-making equipment to China are set to deal a setback to some of the country’s fast-emerging semiconductor companies, curbing China’s attempts to catch up with the U.S. in advanced technology. The rules announced Friday by the Commerce Department require a license for U.S. companies to export advanced chips and chip-making equipment key to China’s technological goals, vastly expanding on existing rules restricting the export of advanced technologies to China.

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