China sets GDP target of ‘around 5%’ for 2024

China’s Premier Li Qiang speaks during the 54th annual meeting of the World Economic Forum in Davos, Switzerland, January 16, 2024.  Denis Balibouse | Reuters BEIJING — China set a growth target of “around 5%” for 2024, according to the “Government Work Report” released Tuesday. The targets for GDP and other economic indicators were published … Read more

China to hold ‘Two Sessions’ meeting amid bazooka-like stimulus debate

A Chinese flag flutters on top of the Great Hall of the People ahead of the opening ceremony of the Belt and Road Forum (BRF), to mark 10th anniversary of the Belt and Road Initiative, in Beijing, China October 18, 2023. Edgar Su | Reuters BEIJING — China is set this week to kick off … Read more

China calls on foreign businesses to share their problems as investment slumps

The flags of China, U.S. and the Chinese Communist Party are displayed in a flag stall at the Yiwu Wholesale Market in Yiwu, Zhejiang province, China, May 10, 2019. Aly Song | Reuters BEIJING — China’s Ministry of Commerce met with foreign businesses in Beijing this week in an effort to address operating challenges, but … Read more

IQiyi posts first year of profits and says it’s ‘excited’ about Sora

A view of iQiyi’s website featuring a variety TV show, taken on Tuesday, Aug. 22, 2023. Bloomberg | Bloomberg | Getty Images BEIJING — Chinese video content and streaming company iQiyi CFO Wang Jun said he is “excited” about potential new business opportunities with the emergence of OpenAI’s text-to-video tool Sora. Speaking exclusively to CNBC … Read more

Geely-backed ECARX takes aim at Nvidia’s growing auto business

Chinese automaker Geely unveils first model of its new Lynk & Co brand in Berlin.  Ullstein Bild Dtl. | Ullstein Bild | Getty Images BEIJING — Companies from Nvidia to Huawei are chasing the market for in-vehicle tech as the electric car industry booms, with Ecarx emerging as a new contender. Since 2017, Chinese car … Read more

China doubles down on national security, expanding its state secrets law

A Chinese flag flutters on top of the Great Hall of the People ahead of the opening ceremony of the Belt and Road Forum (BRF), to mark 10th anniversary of the Belt and Road Initiative, in Beijing, China October 18, 2023. Edgar Su | Reuters BEIJING — China is beefing up national security measures by … Read more

Berkshire shares jump after big profit gain as Buffett’s conglomerate nears $1 trillion valuation

Warren Buffett tours the grounds at the Berkshire Hathaway Annual Shareholders Meeting in Omaha Nebraska. David A. Grogan | CNBC Berkshire Hathaway shares rose on Monday after Warren Buffett’s conglomerate posted strong earnings for the fourth quarter over the weekend. Berkshire’s Class A and B shares jumped more than 1.5%, each. Class A shares are … Read more

After doubts about Alibaba’s future, co-founder Joe Tsai says: ‘We’re back’

Trader works at the post where Alibaba is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 28, 2023. REUTERS/Brendan McDermid Brendan Mcdermid | Reuters Chinese e-commerce giant Alibaba is back on track to be a top market player after a period of pressure, co-founder Joe Tsai … Read more

Xiaomi bets on new EV SU7; targets potential 20 million premium users

Chinese consumer electronics company Xiaomi revealed Thurs., Dec. 28, 2023, its long-awaited electric car, but declined to share its price or specific release date. CNBC | Evelyn Cheng BEIJING – Chinese smartphone company Xiaomi believes it’s identified a consumer niche that will pay up for its upcoming electric car in a fiercely competitive market. “We … Read more

Berkshire Hathaway (BRK.A) earnings Q4 2023

Warren Buffett ahead of the Berkshire Hathaway Annual Shareholder’s Meeting in Omaha, NE. David A. Grogan | CNBC Berkshire Hathaway on Saturday reported a big rise in operating earnings in the fourth quarter, thanks to huge gains in its insurance business, while its cash pile expanded to record levels. The Omaha-based conglomerate posted operating earnings … Read more