Taiwan-based printed circuit board (PCB) maker APCB expects to discontinue production in the island by the end of the year and lay off hundreds of employees, as the company shifts manufacturing to a subsidiary in mainland China. Production in Taiwan will cease from December 25, following three consecutive years of losses for APCB’s plants on … Read more
China’s government has announced it is lifting the retirement age for workers. The changes set to go into effect from January 1, 2025, are seen as an attempt to mitigate the effects of a rapidly ageing society and slow down the draining of pension funds. About half of all provincial administrative regions across the nation … Read more
China is trying to bring new economic life to its northeastern rust belt by parachuting in cadres from the upper ranks of the central government and more prosperous parts of the country. Since the start of the year, at least a dozen senior officials from central government ministries and the powerhouse provinces of Jiangsu, Zhejiang … Read more
Samsung Electronics has notified employees in mainland China of a restructuring that will eliminate about 130 positions – equivalent to 8 per cent of domestic sales staff – according to South Korean media reports, as the company continues to grapple with sluggish smartphone and television demand in the world’s second-largest economy. This marks the start … Read more
State broadcaster CCTV reported on Tuesday that the State Council, China’s cabinet, had set up an investigative team involving several government bodies to tackle the matter. Planning body the National Development and Reform Commission, the ministries of public security and transport, the state administrations of market regulation and grain and reserves, and other departments will … Read more
The chief of a branch of China’s securities regulator, was detained by the Communist Party’s anti-graft body for alleged serious violations of discipline and laws, amid disgruntled equity investors’ uproar over a slumping market. Beijing-based financial media outlet Caixin said that Ling was apprehended on Monday morning and that his detention might be linked to … Read more
Dozens of cities in the provinces of Guangdong, Sichuan, Yunnan, Hunan, Shaanxi, Shandong and Jiangsu, as well as Guangxi Zhuang autonomous region, have announced plans so far this year to cut back on government department websites, social media accounts and smartphone applications, research by the Post shows. One of the latest to do so was … Read more
A former senior official in central China was sentenced on Friday to life in prison for taking over 216 million yuan (US$29.8 million) in bribes and helping others to profit from insider trading. The Xuzhou Intermediate People’s Court in the eastern province of Jiangsu handed down the sentence to Cao Guangjing, 60, former deputy governor … Read more
The fund will underpin promising start-ups in the fields of artificial intelligence, biotechnology and semiconductors, and is expected to attract more technology firms to Shanghai, the municipal government said in a statement on Friday. The local state-owned assets watchdog will be responsible for the fund’s establishment and operations. It will be the city’s largest government-backed … Read more
Apple’s key Chinese manufacturing partner Luxshare Precision Industry Co is set to gain control of an iPhone assembly site run by a Taiwanese rival, as the US tech giant fosters ties with mainland China-based suppliers to improve relations with Beijing. Luxshare is set to buy a 62.5 per cent stake in Pegatron Corp’s unit in … Read more
