DIRS.INFO The most relevant business & tech news

☆ China's northern cities brace for more torrid heat
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

[1/3] A man pulls a cart carrying jugs of water amid the orange alert for heatwave, at a hutong alley in Beijing, China July 5, 2023. The torrid heat has gripped China for several weeks, pushing local governments to ask residents and businesses to curb the usage of electricity. It is expected that the maximum temperature in most areas of the city will rise above 40 degrees Celsius, according to the state-backed Beijing Daily. The meteorological observatory in northern Hebei province also issued a red alert, with temperatures in some areas expected to reach 40-43 Celsius on Thursday. China's Meteorological bureau issued orange alerts, the second highest alert, in mostly northern China with temperatures expected to hit 40 degree Celsius and above.

Persons: Tingshu Wang, Bernard Orr, Ella Cao, Michael Perry Organizations: REUTERS, Beijing Daily, China's Meteorological, Beijing Municipal Bureau of Culture, Tourism, Thomson Locations: Beijing, China, Tingshu Wang BEIJING, Hebei province, North China, Mongolia, Shaanxi, Henan, Shandong, Chongqing

CNN —Torrential downpours and flooding have killed at least 15 people and four others remain missing in Chongqing, southwest China, state-run news agency Xinhua reported Wednesday, citing local authorities. More than 85,000 Sichuan residents have been displaced, state-run broadcaster CCTV reported Tuesday. At least 400 emergency teams have been dispatched to help rescue and relief operations in the area, according to state media. Chinese leader Xi Jinping has ordered authorities to “give top priority” to keeping residents safe and minimizing losses, according to Xinhua. This summer has already seen heavy rain, with four people killed and three missing in Sichuan last week after landslides triggered by rainstorms and flash floods, Xinhua reported.

Persons: Xi Jinping, “, ” Organizations: CNN, Xinhua, China’s Ministry of Emergency Management, National Climate Center Locations: Chongqing, China, floodwater, China’s, Sichuan, Xinhua, Henan, Northern China

☆ The future of travel: 10 concepts that will change the way we experience the world
▼ + stars: | 2023-06-20 | by ( Kate Springer | ) edition.cnn.com time to read: +22 min

Concepts that feel plucked from sci-fi novels and films are quickly making their way into mainstream travel, shaping every step of the journey. Seamus PayneLike air travel, eco-conscious hotels are paving the way for more sustainable travel in the future. HyperloopTTUS entrepreneur Elon Musk has been talking about hyperloop technology – an ultra-high-speed transport system in a low-pressure vacuum tube – for years. Meanwhile, Toronto-based TransPod hopes to bring hyperloop technology to Canada with its eponymous tube-based transportation system powered by renewable energy. By 2025, the company plans to build a 620-mile-per-hour TransPod link between Calgary and Edmonton, connecting the two cities in 45 minutes.

Persons: Elijah Nouvelage, Indira Gandhi, Paris Charles de Gaulle, Austin Farmer, we’ll, don’t, David ”, you’ll, Alexander the Great, ” Michael Breer, KAWS, collectables –, Breer, ” Breer, You’ve, ” Jetson, Peter Ternstrom, Apollo, Cruise, ”, what’s, Boom’s, –, Seamus Payne, room2, Marcel Breuer, Tesla, charades, Yusaku Maezawa, Elon Musk, hyperloop, Virgin Hyperloop, HyperloopTT, Hardt Hyperloop Organizations: CNN, Travel, Hartsfield, Jackson Atlanta International Airport, Bloomberg, Getty, Dubai International Airport, Hong Kong International Airport, Indira, Indira Gandhi International, European Union, Emirates, Dubai International, American Airlines, United, Delta, Bluetooth, Alaska Airlines, Lufthansa, Qatar Airways, Specterras Productions, CNN Travel, VR, Aircraft, Federal Aviation Administration, Baidu, Hyundai, Las, CNN Travel ., Alphabet Inc, Beta, International Civil Aviation Organization, Alice, DHL, Air New, Concorde, Japan Airlines, Bauhaus, CEH Technologies, Origin, SpaceX, International Space, NASA, Galactic, Space Training Academy, Nastar Center, Boring Company, Virgin, Hyperloop Transportation Technologies, China Morning Post, China Aerospace Science, Industry Corporation, European Hyperloop Center Locations: Singapore, Dubai, Tokyo Narita, Tokyo Haneda, Delhi, London Heathrow, Paris, Dutch, Europe, Florence, Palmyra, Machu Picchu, New York, Ehang, China, Boston, Las Vegas, Motional, Phoenix, San Francisco, Los Angeles, North America, Austin, Beijing, Chongqing, Wuhan, Shanghai, Guangzhou, Mexico, Air New Zealand, Denver, New York City, Frankfurt, LA, Sydney, London, New Haven , Connecticut, Hungarian, Norway, Red, Saudi Arabia, Amsterdam, Chicago, Cleveland, Pittsburgh, Shanxi province, Netherlands, Toronto, Canada, Calgary, Edmonton

☆ Cheap 'like cabbage' apartments in some Chinese cities draw buyers, and caution
▼ + stars: | 2023-06-16 | by ( Liangping Gao | Marius Zaharia | ) www.reuters.com time to read: +4 min

Real estate agents said low-cost apartments in smaller Chinese cities such as Huainan and Rushan in the east, and Gejiu in the southwest, are also being bought, largely by people living outside those locations. The deals come at a time the picture for China’s property market is getting darker. For buyers with the means to get back into the market, the rock-bottom prices of second-hand apartments in the smaller cities have been hard to resist. ‘BUYERS ARE NOT LOCALS’Real estate agents said buyers in the small cities are mostly from out of town. “The fact that there are so many people buying low-cost flats in smaller cities reflects caution,” said Hwabao Trust economist Nie Wen.

Persons: Hu Yongwei, Thomas Peter, Hu, “, Zhao, Liu Yong, Gejiu, ”, Nie Wen Organizations: Reuters, REUTERS, Beijing, Hwabao Locations: BEIJING, HONG KONG, Beijing, Hebi, Zhengzhou, Henan province, China, Huainan, Rushan, Anjuke, Chongqing, COVID

☆ China's economic recovery is stalling. Here's what to expect next
▼ + stars: | 2023-06-16 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

watch nowA raft of weak Chinese economic data in May has raised hopes of decisive policy intervention. A slew of economic data from industrial production and fixed asset investment to retail sales and trade fell short of expectations, with China teetering on the brink of deflation as its post-pandemic economic recovery stalls. "Weak investments data suggest that authorities are unlikely to stop at the monetary easing we saw this week," Oxford Economics' lead economist Louise Loo wrote in a note after Thursday's China data release. "We therefore continue to expect announcements of further 'piecemeal' property sector easing measures to follow in the coming weeks," Loo wrote. Goldman Sachs economists said last month that getting young people back to work would give China's economic recovery a sizable boost, given that they account for almost 20% of consumption in China.

Persons: China teetering, Helen Qiao, Louise Loo, Loo, Goldman Sachs, America's Qiao Organizations: China's State Council, Communist, China's National Statistics Bureau, Bank of America's, CNBC, People's Bank of, Oxford, Afp, Getty, Bank Locations: China, People's Bank of China, Chinese, Chongqing, America's

☆ Baidu wins commercial licence for driverless taxis in Shenzhen
▼ + stars: | 2023-06-16 | by ( Josh Ye | ) www.reuters.com time to read: +1 min

HONG KONG, June 16 (Reuters) - China's tech firm Baidu Inc said on Friday that it has obtained a commercial licence from regulators for its driverless ride-hailing service in parts of Shenzhen, the country's tech hub. Its fleet of driverless robotaxis, under the brand Apollo Go, will be allowed to operate and collect fares from passengers across an area of 188 square km (116.82 square miles) in Shenzhen, the company said. Baidu first brought self-driving cars to Shenzhen in 2022 but its cars then were not allowed to go on the roads without human supervisors onboard. Baidu has obtained licences from three other Chinese cities including Wuhan, Chongqing and Beijing to offer fully driverless service there. Baidu also said it plans to put an additional 200 fully driverless robotaxis on the road this year.

Persons: Baidu, Josh Ye, Jason Neely, Louise Heavens Organizations: Baidu Inc, Baidu, Thomson Locations: HONG KONG, Shenzhen, Wuhan, Chongqing, Beijing

☆ The most effective and cheap ways to cool your body during a heat wave, according to scientists
▼ + stars: | 2023-06-14 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +6 min

Insider asked two scientists for simple, effective, and cheap ways to cool down. Put your hands or feet in cold waterIn extreme heat, the body opens up the blood vessels that are close to the skin. Blood carries heat from inside the body to the surface, where it can benefit from the cooling effect of sweat evaporating. Use an electric fan, but be careful in very hot weatherA fan helps cool you down by helping sweat evaporate faster. In dry heat, sweat is already evaporating at maximum efficiency.

Persons: George Havenith, Serge Haouzi, Owen Jeffries, Jeffries, Havenith, Coke, Ricardo Rubio, you've Organizations: Service, Oceanic, Atmospheric Administration, Environmental, Loughborough University, Getty, Newcastle University, World Health Organization, China News Service, Europa Press Locations: Pacific, Asia, Nice, France, Xinhua, Chongqing, China, Madrid, Spain

☆ STMicroelectronics and Sanan plan silicon carbide venture in China
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

PARIS, June 7 (Reuters) - Semiconductor supplier STMicroelectronics (STMPA.PA) and Sanan Optoelectronics (600703.SS) plan to set up a silicon carbide manufacturing joint venture in Chongqing, China, they said on Wednesday. The companies said the cost of the venture was expected to be about $3.2 billion, including capital expenditure of about $2.4 billion over the next five years. The venture will produce silicon carbide devices exclusively for STMicroelectronics which are used in electric cars and other industrial power and energy applications. "China is moving fast towards electrification in automotive and industrial and this is a market where ST is already well-established with many engaged customer programs. Reporting by Sudip Kar-Gupta; editing by David Goodman and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Sanan, Jean, Marc Chery, Sudip Kar, David Goodman, Jason Neely Organizations: Semiconductor, Thomson Locations: Chongqing, China

☆ China's Changan denies arbitrarily cutting payments to suppliers
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

BEIJING/SHANGHAI, June 7 (Reuters) - China's Chongqing Changan Automobile (000625.SZ), in a statement sent to Reuters on Wednesday, denied allegations reported in local media that it had arbitrarily cut payments to suppliers by 10%. The state-owned automaker said it was normal to negotiate prices regularly with suppliers due to changes in raw material costs, demand, and supply and product innovations. It also denied it had received a letter from suppliers complaining about cutting payments to them. One of the sources said the amount by which Changan was asking suppliers to reduce their prices varied, with some bigger suppliers asked to absorb cuts of less than 10%. Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh; Editing by Tom Hogue and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Changan, Qiaoyi Li, Zhang Yan, Brenda Goh, Tom Hogue, Kim Coghill Organizations: Chongqing Changan Automobile, Reuters, Thomson Locations: BEIJING, SHANGHAI, Chongqing

☆ Don't underestimate China's ability to build its own advanced chips despite U.S. curbs, tech analysts say
▼ + stars: | 2023-06-06 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

CHONGQING, CHINA - MAY 4, 2023 - Young technicians test the quality of electronic chips at a dust-free production workshop in Chongqing, China, May 4, 2023. CFOTO | Future Publishing | Getty ImagesIndustry analysts are optimistic that Chinese chip makers will develop their own advanced semiconductors despite Washington's attempts to cut the country off from accessing or manufacturing the technology. Washington also reportedly urged South Korea to not let its chip makers fill Micron's void in China. China is pouring more than 1 trillion Chinese yuan ($140 billion) into its chip industry, according to a Reuters report. Domestic chip makers already benefit from government subsidies and state-backed research projects.

Persons: Daniel Newman, Paul Scharre, Washington, Jensen Huang, Huang Organizations: Getty Images Industry, Futurum Group, CNBC, Nvidia, Huawei, Wall Street, New, Micron Technology Locations: CHONGQING, CHINA, Chongqing, China, New American, May, South Korea, Taipei

[1/2] The logo of Chinese carmaker Geely Auto is pictured at the second media day for the Shanghai auto show in Shanghai, China April 17, 2019. Thailand's Board of Investment held discussions with five major Chinese EV makers including Geely during a roadshow to China in April, its Secretary-General Narit Therdsteerasukdi said. "All expressed keen interest in Thailand's policy to develop a regional EV production base and an integrated EV supply chain," Narit said, without providing more details of the talks with Geely. BYD and China's Great Wall Motor Co Ltd (601633.SS) are already working on building local EV production in Thailand. China's Great Wall Motor has said it is considering a research and development centre in Thailand that could work on battery-powered pickup trucks.

Persons: Aly Song BANGKOK, Geely, Narit Therdsteerasukdi, JAC Motors, Narit, Aston Martin, China's, Devjyot Ghoshal, Zhang Yan, Jamie Freed Organizations: Shanghai, REUTERS, Reuters, of Investment, BYD Co, Chongqing Changan Automobile Co, Jiangling Motors Corp Ltd, EV, Wall Motor Co, Volvo, Aston, Malaysian carmaker Proton, Toyota Motor Corp, Isuzu Motors, Thomson Locations: Shanghai, China, Thailand, Chongqing, Geely, Swedish, Southeast Asia

☆ Shanghai breaks more than century-old heat record in sweltering May
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +2 min

[1/3] A person uses clothing to protect themselves from the sun, as they walk on the Bund on a hot day, in Shanghai, China May 15, 2023. The peak recorded by the Shanghai Meteorological Bureau on Monday beat the previous May record of 35.7 degrees Celsius set in 1876, 1903, 1915 and 2018, according to bureau statistics. Earlier, many localities in Sichuan province, which is home to more than 80 million people, issued high-temperature warnings, with some areas maxing out at 42 degrees Celsius, local media reported. In the next three to five days, the maximum temperature in some cities in Sichuan, located in China's southwest, will reach 38 degrees Celsius, and hit 42 degrees Celsius in some areas, according to state media. China, known for extreme weather conditions, has also been experiencing torrential rains for weeks in some regions.

☆ The Chinese Dream is dead because China's Gen Z is flat broke, and they have the receipts to prove it
▼ + stars: | 2023-05-19 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

China's Gen Z is broke, and they have the receipts to prove it. This Weibo user in Anhui saved $21.29. What a joke," one Weibo user in Guangdong wrote, posting on Weibo a record of some $1,890 in savings. To put things into perspective, the average Chinese Gen Z-er earns around $596 a month, per Statista. And now that China's Gen Z is feeling the pain, perhaps one Weibo comment — liked more than 700 times at press time — sums it up best.

☆ China names head of NFRA as financial industry faces greater scrutiny
▼ + stars: | 2023-05-11 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China has appointed the head of its powerful new financial watchdog, which was created as part of sweeping reforms aimed at reining in the $60 trillion industry. Currently, several provincial leaders had previous careers in the financial industry, including Wu Qing, vice mayor of Shanghai and formerly the chairman of the Shanghai Stock Exchange. China’s sprawling financial industry is coming under closer scrutiny as Xi and his key allies have asserted greater direct control over financial policy. For years, Xi has said the financial industry should better serve the real economy, including making money available to businesses that need it. To further consolidate control, according to analysts, the top anti-graft body has carried out a sweeping anti-corruption campaign in the financial industry, which has ensnared more than a dozen senior executives from state-owned financial institutions.

☆ Weird and wonderful trains that break the rules
▼ + stars: | 2023-05-08 | by ( Ben Jones | ) edition.cnn.com time to read: +14 min

Here’s a selection of unusual railways that break the rules in order to reach the places other trains can’t roll. The single rails carrying the trains are supported by a series of 486 steel portals weighing almost 20,000 tonnes in total. It is the oldest continuously operating pier railway in the world. Six miles of the route are along a rural railway line, with the rest in bus mode. Katoomba Scenic Railway, AustraliaNot far from the wonderful city of Sydney is a railway experience unlike anything else in the world.

☆ One in 5 young people in Chinese cities are out of work. Beijing wants them to work in the fields
▼ + stars: | 2023-04-30 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Guangdong, the manufacturing powerhouse that abuts Hong Kong, said last month it will help college graduates and young entrepreneurs to find work in villages. Guangdong’s plan, which was widely panned on social media, coincided with the rate of urban unemployment among 16- to 24-year-olds surging to 19.6%, the second highest level on record. Kong Yiji, a famous literary figure from the early 20th century, has been one of the hottest memes on China’s social media since February. A tourist shop named 'Kong Yiji' in China's Zhejiang province. Other popular buzzwords have included “lying flat” and “letting it rot.”Authorities, uneasy about dissatisfaction expressed through memes, have banned the hashtag of Kong Yiji.

☆ China weighs giving single women IVF access to stem population decline
▼ + stars: | 2023-04-29 | by ( ) www.cnbc.com time to read: +8 min

Crucially, Chen could access in-vitro fertility (IVF) treatment legally in a private clinic. We have liberalized the policies here and I know a lot of single women are doing IVF." watch nowLiberalizing IVF nationwide could unleash more demand for fertility treatment in what is already the world's biggest market, straining limited fertility services. The NHC's Sichuan branch did not address questions from Reuters about whether it would offer IVF treatment to all women in public hospitals. Shanghai and the southern Guangdong province have also permitted unmarried women to register their children but IVF services for single women remain banned.

"I was previously considered wealthy in the area," said Liu, who also owns some commercial property in the northeastern city of Liaoyuan. In play now in China, where around 70% of household wealth is in property, this phenomenon is weighing on the post-pandemic recovery of household consumption, which Chinese policymakers have vowed to make a more prominent driver of economic growth. Capital Economics estimates net household wealth declined 4.3% overall last year, due to falling house and stock prices, the first decline since at least 2001. Indeed, deposits rose a further 9.9 trillion yuan in the first quarter of this year. ($1 = 6.8376 Chinese yuan renminbi)Additional reporting by Shuyan Wang; Editing by Marius Zaharia and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ From hotpot to bubble tea, BOFA says China may be seeing signs of consumption recovery
▼ + stars: | 2023-04-12 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Signs of recovery may be emerging in China's luxury and consumer discretionary goods sectors, said an analyst from Bank of America, even as China released data showing consumer inflation at an 18-month low. "In terms of luxury high-end [consumption] — we're seeing quite strong recovery," said the bank's chief China equity strategist Winnie Wu. "On the lower end, the bubble tea, the Shabu Shabu, those hotpots — we're seeing good recovery." China's luxury market fell 10% in 2022, declining for the first time in five years, according to Bain & Company. Wu, however, maintained that a good overall recovery across China's consumer sector has yet to be seen.

☆ China's first batch of bluechips under new IPO system surge in debut
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, April 10 (Reuters) - The first batch of blue-chip stocks to list under China's registration-based initial public offering (IPO) system surged in their Monday debut despite tepidness in the broader market. The listing of the 10 companies on the main boards in Shanghai and Shenzhen marks the full roll-out of China's U.S.-style IPO mechanism, designed to make public share sales more market oriented. Under the new rules, no daily trading limit is set for shares listed after an IPO in their first five trading days. Previously, new stocks listed in China's main boards could jump as much as 44% and slump no more than 36% at debut. However, stocks listed on the main boards are still subject to the 10% daily trading limit afterwards.

☆ China's navy is looking to junior high schools as it scrambles to find pilots for its growing aircraft carrier fleet
▼ + stars: | 2023-03-31 | by ( Minnie Chan | South China Morning Post | ) www.businessinsider.com time to read: +3 min

The Chinese Navy's youth aviation schools have recruited about 4,500 boys aged 15 to 16 this month. China's navy needs pilots for its fleet of aircraft carriers, which grew to three ships in June. The navy draws on talent from the 14 schools for its aircraft carrier cadet pilot programme. AFP via Getty ImagesIt is unclear if this is the first year that students so young will attend the aviation schools. The average age of the newest crop of cadet pilots is 20, much younger than in previous years.

☆ Baidu's smart car business to test autonomous vehicles in Shanghai
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: 1 min

[1/2] The Apollo logo is seen on a car of Baidu's driverless robotaxi service Apollo Go, in Wuhan, Hubei province, China February 24, 2023. REUTERS/Josh Arslan/File PhotoHONG KONG, March 22 (Reuters) - Apollo, Chinese tech giant Baidu's (9888.HK) smart car business, has received approval to be among the first companies to test fully autonomous vehicles in Shanghai, China's largest city, it said on Wednesday. The business currently operates driverless robotaxi services in specially designated areas of Wuhan, Chongqing and Beijing. Reporting by Twinnie Siu and Eduardo Baptista Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Former Taiwan president Ma to visit China in landmark trip
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: 1 min

TAIPEI, March 19 (Reuters) - Former Taiwan President Ma Ying-jeou will visit China this month, his office said on Sunday, the first time a former or current Taiwanese leader has visited since the defeated Republic of China government fled to the island in 1949. Ma, who remains a senior member of Taiwan's Kuomintang (KMT) opposition party, held a landmark meeting with Chinese President Xi Jinping in Singapore in late 2015, shortly before current Taiwan President Tsai Ing-wen was elected. Ma's office said that he would visit China from March 27 to April 7 and go to the cities of Nanjing, Wuhan, Changsha, Chongqing and Shanghai. Reporting by Ben Blanchard Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Baidu stock rebounds after falling sharply in wake of demo of ERNIE chatbot, its ChatGPT-style service
▼ + stars: | 2023-03-17 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Shares in Chinese search giant Baidu rebounded sharply a day after it unveiled ERNIE Bot, its answer to the ChatGPT craze. Its Hong Kong shares fell 6.4% after a public demonstration of its bot failed to impress investors. The reversal came after the company said more than 30,000 businesses had signed up to test out its chatbot service within two hours of its demonstration. Baidu Chairman and CEO Robin Li presenting the company's AI chatbot, ERNIE Bot, in Beijing on March 16. But its stock slumped on Thursday because the demo was “pre-recorded, and not live, which makes investors skeptical about the robustness of the ERNIE Bot,” according to Pau.

☆ Baidu wins permit to offer driverless robotaxi service in Beijing city
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

Companies Baidu Inc FollowSHANGHAI, March 17 (Reuters) - Chinese search engine giant Baidu (9888.HK), said on Friday it had won a permit to provide a fully driverless ride-hailing service in the Chinese capital of Beijing. With the permit, Baidu's Apollo service will deploy 10 fully autonomous vehicles in a technology park developed by the government of Beijing, it said in a statement. The permit marks a step forward from December, when Baidu said it had been granted a license to test the service. Baidu will now operate driverless robotaxi services in three Chinese cities including Wuhan and Chongqing. The Beijing-headquartered company, which generates most of its revenue from its internet search engine, has been focused on self-driving technologies over the past five years as it looks to diversify.

Search resuls for: "Chongqing"

25 mentions found