Companies
Airshow China hits record high
The Zhuhai-made AG600, the world’s largest amphibious aircraft, is displayed at the 11th China International Aviation and Aerospace Exhibition in Zhuhai in November. Photo provided to China Daily
The 11th China International Aviation and Aerospace Exhibition, held in the southern Guangdong city of Zhuhai, surpassed all expectations as it shut its hangar doors on Nov. 6, with more than $40 billion in deals signed.
Aviation and aerospace companies went on a spending spree during the week-long expo, purchasing 187 aircraft, and more than 400,000 spectators attended.
The influential event, held in Zhuhai every two years, has had a huge impact on the city’s aviation and high-end manufacturing industries, and has attracted investment and companies from across the globe, including BP plc, Royal Dutch Shell plc, Robert Bosch GmbH and Koninklijke Philips NV.
Zhuhai is nestled next to Macao and Hong Kong. The city’s government has sought to exploit the city’s geographic advantages and attract overseas investment, pulling in $3 billion from Europe alone in 2014.
This year’s air show was bigger in all aspects. As well as creating 40 percent more sales than the previous session in 2014, the indoor exhibition space has expanded from 66,000 square meters to 82,000 sq. m. About 700 exhibitors attended with 151 aircraft from 42 countries on display, as well as military equipment, engines, landing gear and the latest aerospace products.
About 100 military delegations from Europe, the U.S., Asia and Africa were invited.
The show, celebrating its 20th year, started the week off by revealing to the world the China-made stealth fighter, J-20, gathering considerable international media attention.
Other notable displays included the Airbus A350, made predominantly of carbon fiber polymers, the Aviation Industry Corporation of China’s heavy transporter, Y-20, and the Zhuhai-made AG600, the world’s largest amphibious aircraft.
Crowd favorites…
China
Government subsidies don’t boost Chinese firms’ productivity
China’s industrial subsidies have caused considerable controversy both internationally and domestically. Trading partners have accused China of unfairly favouring its indigenous firms with subsidies, leaving foreign companies at a disadvantage in the race to lead the technologies of the future.
Governments around the world regularly spend an enormous amount of money subsidising businesses. But few spend like China. A 2022 report suggests that China spends 1.7–5 per cent of its GDP on industrial policies, more than most countries.
(more…)Companies
Chinese Smartphone Manufacturer Lays Off 3,000 Employees Following Closure of Chip Design Division
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
(more…)Companies
Company Owned by Chinese Billionaire Guilty of Paying $1 Million in Bribes to LA Councilman
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
(more…)- New Publication: A Guide for Foreign Investors on Navigating China’s New Company Law
- Lingang New Area in Shanghai Opens First Cross-Border Data Service Center to Streamline Data Export Process
- A Concise Guide to the Verification Letter of Invitation Requirement in the China Visa Process
- Uyghurs remember 1990 Baren Uprising over China’s forced abortions
- New Capital Investment Entrant Scheme Launched in Hong Kong
- A Timeline of US-China Relations during the Biden Administration
