Companies
COVID-19: Hong Kong imposes first lockdown
Hong Kong, January 23 (ANI): In view of the rising number of coronavirus cases, the Hong Kong government has imposed its first COVID-19 lockdown in Jordan, a neighbourhood on the Kowloon Peninsula.
The government made a “restriction-testing declaration”, which requires residents from parts of the bustling neighborhood of Jordan to stay in their premises and undergo compulsory testing arranged by the government, CNN reported citing a statement.
Jordan is a dense and thriving urban area with high-rise apartments, businesses, and restaurants. The lockdown area includes Temple Street, home to the iconic night market popular with tourists, CNN reported.
Residents will be required to stay at their homes until all the residents are subjected to mandatory testing, which the authorities aim to complete under the time frame of 48 hours.
Thousands of Hong Kong residents are affected by the lockdown, said the government’s information office.
Wong Kam-sin, Hong Kong’s Secretary for the Environment, said that the water from the pipes of several buildings in the area was being tested to ascertain whether the coronavirus is spreading through sewage.
In a separate statement Kam-sin said, the Hong Kong government announced that roads in the “restricted area” would also be closed to traffic.
According to South China Morning Post, Hong Kong has exceeded 10,000 coronavirus cases. The latest tally of infections has recorded 10,009, with 168 related deaths. (ANI)
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.
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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.
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