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Xinhua Photos of the Day (Aug. 12)

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Xinhua Photos of the Day (Aug. 12)

BEIJING, Aug. 12 (Xinhua) — The world in the past 24hrs. A selection of the best daily press photos from Xinhua.Contractors of Singapore’s National Parks Board (NParks) move the seized elephant ivory for destruction to commemorate World Elephant Day, which falls on Aug. 12, in one of NParks’ facilities in Singapore, Aug. 11, 2020. NParks crushed 9 tonnes of elephant ivory, worth 18 million Singapore dollars (about 13.1 million U.S. dollars), the majority of which were seized on July 21, 2019 during the largest seizure of elephant ivory in Singapore. (Xinhua/Then Chih Wey)A man cleans the roof of his house after Mount Sinabung eruption in Karo, North Sumatra, Indonesia, Aug. 11, 2020. Mount Sinabung in Indonesia’s North Sumatra province’s district of Karo erupted on Monday. (Photo by Alberth Damanik/Xinhua)A woman looks at protective goggles at a market in Manila, the Philippines, Aug. 11, 2020. The number of confirmed COVID-19 cases in the Philippines surged to 139,538 after the Department of Health (DOH) reported 2,987 new daily cases on Tuesday. (Xinhua/Rouelle Umali)Photo provided by Russian Direct Investment Fund (RDIF) shows a researcher displaying the vaccine against the novel coronavirus developed by the Gamaleya Scientific Research Institute of Epidemiology and Microbiology in Moscow, Russia, Aug. 6, 2020. Russia has registered the world’s first vaccine against the novel coronavirus, Russian President Vladimir Putin said Tuesday. (RDIF/Handout via Xinhua)Members of local social media star “The Trending Gang” dance with fans during a TikTok filming session in Vilnius, Lithuania, Aug. 10, 2020. The TikTok filming session was organized by local social media star “The Trending Gang” on Monday in Vilnius, attracting hundreds of followers and fans. (Photo by Alfredas Pliadis/Xinhua)Mahinda Rajapaksa attends a ceremony to officially assume duties as Prime Minister of Sri Lanka at Temple Trees in Colombo, Sri Lanka, Aug. 11, 2020. Leader of Sri Lanka Podujana Peramuna party Mahinda Rajapaksa took his oath as the nation’s new prime minister on Sunday after his party secured a landslide victory in the recently concluded parliamentary election. (Photo by Ajith Perera/Xinhua)File photo taken on June 27, 2019 shows Senator Kamala Harris of California being interviewed after the second night of the first Democratic primary debate in Miami, Florida, the United States. Former U.S. Vice President and presumptive Democratic nominee Joe Biden announced on Aug. 11, 2020 that he has picked Senator Kamala Harris of California as his running mate. (Xinhua/Liu Jie)Giant panda Yang Yang looks at food in the celebration of its 20th birthday at Schonbrunn Zoo in Vienna, Austria, Aug. 9, 2020. (Daniel Zupanc/Schonbrunn Zoo/Handout via Xinhua)An infrared camera shows two wild elephants walking on a road in Menghai County in Xishuangbanna Dai Autonomous Prefecture, southwest China’s Yunnan Province, Aug. 8, 2020. About 280 wild Asian elephants, the largest wild Asian elephant population in the country, live in Xishuangbanna Dai Autonomous Prefecture. (Xinhua/Chen Xinbo)Tourists visit Yangjiatang Village in Songyang County, Lishui City, east China’s Zhejiang Province, July 17, 2020. By the end of 2019, a total of 526 homestays have been developed and the yearly tourism revenue of the county reached 170 million yuan (about 24 million U.S. dollars) in 2019. (Xinhua/Huang Zongzhi)A car is covered under a fallen tree in Xiamen, southeast China’s Fujian Province, Aug. 11, 2020. Typhoon…

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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.

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East Asia Forum

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.

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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).

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OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).

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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.

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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.

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