Day: August 29, 2023

Xiaomi Corp reported better-than-expected profit after cost-cutting efforts and a focus on more expensive mobile devices helped buoy margins and offset a moribund smartphone market. Net income more than doubled to 3.67 billion yuan (US$503 million) in the three months ended June, versus the average estimate of 3.16 billion yuan. Revenue slid a less-than-projected 4 per cent to 67.4 billion yuan, narrowing declines from previous quarters when the smartphone market slump was at its worst. Xiaomi reasserts goal to challenge Apple’s iPhone at launch of new products Beijing-based Xiaomi has…

China is exploring ways to produce its own high-bandwidth memory (HBM), the next-generation of memory chips tailored for artificial intelligence (AI) processors, as it pushes ahead with a semiconductor self-sufficiency drive amid US sanctions, industry sources said. While it will be an uphill battle to catch up with global leaders like SK Hynix, Samsung Electronics and Micron Technology given the impact of Washington’s sanctions, the Chinese government has determined that the country must become self-sufficient in HBMs even though it may take years, they added. Industry sources, who are familiar…

China’s new envoy to Bandar Abbas in southern Iran has assumed office in the latest sign of strengthened ties between Beijing and Tehran as the two face tensions with the West. Xu Wei, the newly appointed consul general, landed in Bandar Abbas on Sunday and was greeted by Iranian officials and Chinese diplomats at the airport, the Chinese embassy in Tehran said on Monday. Xu, who served as counsellor and deputy head of the Chinese embassy in Iran from 2016 to 2017, said he looked forward to “working with all…

On August 24, Japan started releasing contaminated water from the Fukushima nuclear power plant into the Pacific Ocean and will continue to do so for the next 30 years. While governments in Beijing and Hong Kong have slammed the Japanese plan as an irresponsible decision with grave environmental and health risks, public discussions have crystallised on fears of imminent radioactive contamination of seafood imports from Japan. These responses are misguided as the discharge of contaminated water from Fukushima does not represent a danger for people in mainland China and Hong…

The fatal shooting of a professor on Monday by a graduate student, both of Asian descent, at the University of North Carolina at Chapel Hill was greeted with anxiety and trepidation on Tuesday by members of the minority community over concerns it would only fan more stereotypes and racial hatred. On Tuesday, Chinese doctoral candidate Tailei Qi, 34, was charged with first-degree murder and possession of a firearm on educational property in the killing of Zijie Yan, an associate professor in the applied physical sciences department. UNC chancellor Kevin Guskiewicz…

In recent years, apart from China’s repeated attempts to review the project, Kyrgyzstan has also shown great interest in reviving the project. In 2020, then Kyrgyz president Sooronbay Jeenbekov stressed the importance of railways for the country, with the China-Kyrgyzstan-Uzbekistan railway the most strategically important. Additionally, Kyrgyzstan sought to promote Russia as a partner for the track through a 3+1 format. Even so, little progress has been achieved since then. 01:26 New China-Europe Railway Express line faces challenges amid Russia-Ukraine war New China-Europe Railway Express line faces challenges amid Russia-Ukraine…