Japan’s top companies are losing patience with the United Kingdom as Brexit fast approaches.   Honda (HMC) became the latest to reduce its exposure to the British economy, announcing Tuesday that it will shu tter its only manufacturing plant in the country by 2021, a move that is expected to result in the loss of at least 3,500 jobs.   The company denied any link with Brexit but auto industry experts sa id the uncertainty over future market access and the risk of tariffs must have played a part.   Honda’s bombshell follows the decision by rival automaker Nissan (NSANF) to sc rap plans to build a newRead More →

leave the European Union, and Honda CEO Takahiro Hachigo said in Tokyo that the decision was not rel ated to Brexit. But uncertainty concerning Britain’s future trading relationship with its bigg est export market is one of the big clouds hanging over the car industry. Brexit backdrop Christian Stadler, an autos expert and professor of strategic management at Warw ick Business School, said that Brexit “must have been a factor” in Honda’s decision. “Companies from Japan and other countries were attracted to Britain because it gave them easier entry to the luc rative European market, through an English speaking country. At the moment, there isRead More →

there is a relatively stable world economy. The high-technology sector and e-commerce can be especially fast-growing given their rapid development in both countries, Li Xin, director of the Ru ssian Center for Central Asian Studies at the Shanghai Institute of International Studies, told the Global Times on Thursday. Li added that some traditional industries, such as energy, could witness a decrease in total trade as international fuel prices decline. The expansion in China-Russia trade in 2018 was largely due to stable international economic growth and a closer bilateral relationship, rather than a consequence of the China-US trade dispute, Li said. Both countries have introduced policiesRead More →

The world has been closely watching the latest round of high-level trade negotiations between the US and China, which took p lace in Beijing on Thursday and Friday, for clues as to whether a trade resolution will be reached before the March 1 deadline. With the slowdown seen in the economies of both countries and the world in general, the US and China have a sober under standing of the importance of reaching a trade deal, which is reflected by the increasing flexibility shown by both parties. Last week, US Pre sident Donald Trump even suggested that he could extend the deadline if both partiesRead More →

Lunar New Year’s day in hospital this year, because he was urged to drink Kweichow Moutai, the famous Chinese liquor. After recklessly guzzli ng almost half liter, he went into a coma due to alcohol poisoning and ended up in the emergency room. My poor friend missed the entire Spring Festival. For many foreigners, such an incident may be beyond imagination, and include a shock factor. Why do some Chinese pe ople always force others to drink? How is drinking linked to sincerity and good faith? Well, welcome to the Chinese drinking culture. As an old saying goes, “In wine there is truth.” Some ChineseRead More →

m in business opportunities, and other factors such as urbanization are having a positive effect on consumer spending. It is very likely for the government to further open the Chinese economy to foreign investment. Although the external econ mic situation is complex, China is moving quickly to push forward a draft law amendment that supports the co ncept of pre-establishment national treatment, which will encourage fair competition between foreign and do mestic businesses. Such measures will give foreign investors more opportunities to share China’s growth dividend. China is at a critical point in its economic restructuring and rising up the value chain. If foreign companiesRead More →

ina is racing to the forefront of the global artificial intelligence sector, with six domestic companies earning their place on a recent list of the top 100 AI startups in the world. Released by venture capital database CB Insights, the list includes 23 startups headquartered ou tside the United States, including six each from China, Israel and the United Kingdom. Chinese companies SenseTime, YITU Technology, 4Paradigm, Face++, Momenta and Horizon Robotics made it onto the list. CB Insights reported Chinese startups SenseTime and Face++, which focus on facial recognitio n technologies, are the best-funded companies, followed by California-based tech company Zymergen. A total of 11Read More →

Education authorities in Beijing have launched an investigation into actor Zhai Tianlin, who has received high-profile plagiarism allegations. The Education Work Committee of the CPC Beijing Municipal Committee and Beijing Education Commission have sent an investigative team to the Beijing Film Acad emy, where Zhai obtained a Ph.D., to look into the case, the university said in a statement on Thursday. Zhai, 32, is also a postdoctoral candidate at Peking University. He found himself in hot water on social media after a Sina Weibo blogger accused him of plagiarism last week. The university launched its own investigation on Monday. It has finished prelim inary evidenceRead More →

mote scientific and technology innovation to make them more competitive. Zhou Yawei, a member of the Standing Committee of the Guangzhou Committee of the Communist Party of China and secretary of the Party Working Committee of the Guangzhou D evelopment District, said the district has registered more than 20,000 science and technology companies and took the lead in innovation among 219 State-level development zones in China last year. It is the first time the district – which is home to Sino-Singapore Know ledge City, Guangzhou Science City and Guangzhou International Island – has led State-level de velopment zones in scientific and technological innovation. It rankedRead More →

be paying homage to the year of the Earth pig by teaming up with celebrated design team, Isabel an d Helen Studio to create a bespoke art installation within the restaurants inspired by the zodiac an imal. An exclusive Chinese New Year menu will also be available featuring celebratory dishes. The pig occupies the final position in the Chinese zodiac and encapsulates a care free nature marking the end of the cycle. It signifies growth and contentment and encourages restoration and reflection. The Year of the Pig installation will consist of multiple ‘bio-morphic’ pigs su spended from the ceiling using wire and created from aRead More →