US Concerned Over Huawei’s Advanced Chip in New Phone

US Concerned Over Huawei’s Advanced Chip in New Phone

Business

US Secretary of Commerce Gina Raimondo expressed concern over the presence of an advanced chip in Huawei’s latest smartphone, suggesting that the Chinese telecoms giant may have found a way around US controls on access to cutting-edge semiconductors. The US has been cautious about Chinese advancements in technology due to military concerns and had previously restricted China’s ability to procure advanced chips through export control measures and international persuasion. However, it may be difficult to prevent companies like Huawei from developing their own domestic chip supply chains.

China Implements Measures to Address Demographic Crisis

China Implements Measures to Address Demographic Crisis

Business

China is implementing measures to address its demographic crisis as the country faces shrinking population for the first time in six decades. The government has introduced cash incentives, promoted early marriages, curbed expensive betrothal gifts, provided medical insurance coverage for fertility treatments, and cracked down on private tutoring. These initiatives aim to alleviate the economic and social impact of an aging population.

Evergrande Shares Surge After Trading Resumes Following Chairman’s Surveillance

Evergrande Shares Surge After Trading Resumes Following Chairman’s Surveillance

Business

Shares of Chinese real-estate developer Evergrande surged by 42% within 15 minutes of trading resuming on Tuesday. The stock had been suspended due to reports of the company’s founder and chairman, Hui Ka Yan, being placed under police scrutiny. This development compounds the already volatile nature of Evergrande’s shares, as the company has been struggling with over $300 billion in liabilities and filing for bankruptcy protection in the US.