A woman wearing a face mask walks past a Huawei store temporarily closed due to coronavirus-related restrictions in Beijing, Thursday, May 12, 2022. China’s leaders are struggling to reverse a deepening economic slump while keeping a “zero-COVID” strategy that has shut down Shanghai and other cities. Mark Schiefelbein/AP hide caption […]
Chinas
Tencent shuts down Penguin Esports, its rival to Amazon’s Twitch, as China’s crackdown on tech continues
The streaming platform, Penguin Esports, announced Thursday that it would terminate all services on June 7, citing changes in “business development strategy.” Just nine months ago, anti-trust regulators prevented Tencent merging the company with its other interests in live streaming. Penguin Esports was established by Tencent in 2016 and is […]
Unemployment crisis: China’s tech layoffs could become a self-inflicted headache for Xi
The once-freewheeling industry was long the main source of well-paid employment in China, but major companies are now reportedly downsizing at a scale not seen before as President Xi Jinping’s government continues its crackdown on private enterprise. The Chinese government says the country’s overall unemployment rate remains stable, fluctuating between […]
China’s COVID Curbs Hit Toyota, Volkswagen and Apple Supplier Foxconn | Technology News
By Sarah Wu and Norihiko Shirouzu TAIPEI/BEIJING (Reuters) -China’s efforts to curb its largest COVID-19 outbreak in two years has forced companies from Apple supplier Foxconn to automakers Toyota and Volkswagen to suspend some operations, raising concerns over supply chain disruptions. Multiple Chinese provinces and cities have tightened restrictions in […]
IDC on China’s semiconductor tech ambitions
Even as China spends billions to build up its domestic semiconductor sector, it is still some time away from achieving the capabilities needed to produce cutting edge chips, an analyst said on Wednesday. Semiconductors are used in everything, from smartphones and computers to cars as well as home appliances. “I […]
China’s Tech Crackdown: A Year-in-Review
Over the past year, Beijing clipped the wings of its once high-flying technology giants in a dramatic clash between public and private power. Casualties included some of China’s top tech companies, including internet conglomerates Tencent and Alibaba, food delivery app Meituan, ride-hailing app Didi, as well as companies in online […]