China

China posts record $101 billion trade surplus but export boom could fade

Exports measured in US dollars jumped 18% in July from a year ago, marking the fastest pace of growth this year, according to Chinese customs statistics released on Sunday. Analysts polled by Reuters had forecast a 15% increase. In June, exports increased 17.9%. Imports, meanwhile, grew 2.3% from a year earlier, slightly missing expectations and …

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Apple supplier Foxconn expands India iPhone production, further diversifying supply chain away from mainland China

Apple supplier Foxconn Technology Group is reportedly adding extra iPhone production capacity to an existing factory in India as part of its push to diversify its supply chain beyond China. Taiwan-based Foxconn, the world’s biggest electronics contract manufacturer, will soon start phone production in a new building at an existing factory near Chennai, capital of …

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Alibaba shares jump 7% after quarterly earnings beat expectations

Alibaba has faced growth challenges amid regulatory tightening on China’s domestic technology sector and a slowdown in the world’s second-largest economy. But analysts think the e-commerce giant’s growth could pick up through the rest of 2022. Kuang Da | Jiemian News | VCG | Getty Images Alibaba reported fiscal first-quarter earnings on Thursday that beat …

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China has come closer to the US that ever before, with their companies bringing in almost as much total revenue as world leaders America

Revenue from firms in China comes close to knocking American companies off the global top spot

China has almost knocked American companies off the top spot of the largest global revenue created per country, according to Fortune’s Global 500. Businesses in China have brought in $204.6million less than the US this year, marking the closest the two countries have ever been in the global revenue stakes. Compared to the US, China …

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Yum Brands reports stronger sales for Taco Bell, but China lockdowns weigh on KFC

A woman walks past a Taco Bell Cantina on July 30, 2020 in New York City. Alexi Rosenfeld | Getty Images Yum Brands on Wednesday reported mixed quarterly results as Covid lockdowns in China weighed on KFC’s and Pizza Hut’s sales. Taco Bell, however, reported stronger same-store sales growth in the U.S., fueled by higher …

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Alibaba could see first revenue decline on record but analysts expect sales recovery later this year

Alibaba has faced growth challenges amid regulatory tightening on China’s domestic technology sector and a slowdown in the world’s second-largest economy. But analysts think the e-commerce giant’s growth could pick up through the rest of 2022. Kuang Da | Jiemian News | VCG | Getty Images Alibaba’s revenue could decline for the first time on …

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Samsung and SK Hynix rethink China exposure following US Chips act

Samsung Electronics and SK Hynix are re-evaluating their investments in China as leading Korean chipmakers respond to incoming US restrictions on the production of advanced semiconductors. The Chips and Science Act passed by congress last week, which envisages $52bn in grants to support advanced chip manufacturing in the US, also contains qualified “guardrails” prohibiting recipients …

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U.S. considers crackdown on memory chip makers in China

WASHINGTON, Aug 1 (Reuters) – The United States is considering limiting shipments of American chipmaking equipment to memory chip makers in China including Yangtze Memory Technologies Co Ltd (YMTC), according to four people familiar with the matter, part of a bid to halt China’s semiconductor sector advances and protect U.S. companies. If President Joe Biden’s …

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