Tag Archives: Chinas

The ride-hailing arm of Russian technology company Yandex is facing an existential threat to its business in Kazakhstan. And a tough Chinese peer is ready to pounce. Yandex.Taxi is currently appealing a court ruling handed down on May 19 stating that it violated a patent held by a private Kazakh company called G-Taxi. If the company is unable to overturn the verdict, Yandex.Taxi will no longer be able to operate… Source link

After China announced that it would begin ramping up its efforts to restrict the mining of cryptocurrency, the price of bitcoin (BTC-USD) fell to below $30,000 earlier this week, trading at a value not seen since the turn of the new year. The cryptocurrency has since rebounded slightly, now holding at a level just above $32,000. Though the news and subsequent crash may have caused short term headaches in the crypto market, China’s crackdown on mining may actually benefit crypto in the long… Source link

Keeping a tough stance on cryptocurrencies, China has issued an order to crack down on crypto mining operations in Sichuan’s southwest province, Reuters reported. What Happened: On Friday, the Sichuan branch of the National Development and Reform Commission (NDRC) and the Sichuan Energy Bureau ordered cryptocurrency mining projects closed in the major mining center. The Commission demanded the closure of 26 suspected cryptocurrency mining projects by Sunday in the province. The authorities… Source link

(Bloomberg) — Problems at a Chinese nuclear power plant near Hong Kong probably aren’t cause for any concern, experts said. Some of the politics behind the situation just might be. An issue discovered inside China General Nuclear Power Corp.’s Taishan Unit 1 reactor, in which presumably damaged fuel rod casings leaked inert gas, has happened enough times in the industry that operators know how to manage it and it’s usually “not any kind of threat,” according to Jeff Merrifield, a… Source link

As the delta variant of the coronavirus spreads in southeastern China, doctors say they are finding that the symptoms are different and more dangerous than those they saw when the initial version of the virus started spreading in late 2019 in the central city of Wuhan. Patients are becoming sicker, and their conditions are worsening much more quickly, doctors told state-run television Thursday and Friday. Four-fifths of symptomatic cases developed fevers, they said, although it was not clear… Source link

BEIJING, June 7 (Reuters) – China’s foreign exchange reserves, the world’s largest, rose more than expected in May, official data showed on Monday, as the U.S. dollar weakened. The data showed China’s foreign exchange reserves rose $23.62 billion to $3.22 trillion last month, compared with $3.208 trillion seen in a Reuters poll of analysts and $3.198 trillion in April. Foreign inflows into Chinese stocks and bonds have been strong as China gallops ahead of other major economies in its recovery… Source link

China’s nationwide crackdown on crypto mining could create a competitive environment  in which only the biggest miners can survive, said a co-founder and managing partner of Waterdrip Capital, a major investor in the Chinese crypto mining industry. “Finding suitable sites outside the mining hubs requires a lot of resources such as capital and network,” Yusan Zheng said during a Chinese-language Clubhouse discussion hosted by CoinDesk. “Only the most experienced and deep-pocketed… Source link

LONDON (Reuters) – Bitcoin tumbled below the $40,000 mark on Wednesday to a 3-1/2 month low and dragged down the prices of other digital coins after China imposed fresh curbs on transactions involving cryptocurrencies. Bitcoin, the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk, but the news from China sent it as low as $38,514, for a 9% fall. By 0855 GMT, it had recovered to $40,627, still down 5% on the session. The… Source link

SoftBank has picked its bet in China’s flourishing industrial robotics space. Youibot, a four-year-old startup that makes autonomous mobile robots for a range of scenarios, said it has notched close to 100 million yuan ($15.47 million) in its latest funding round led by SoftBank Ventures Asia, the Seoul-based early-stage arm of the global investment behemoth. In December, SoftBank Ventures Asia led the financing round for another Chinese robotics startup called KeenOn, which focuses on… Source link

Chinese President Xi Jinping applauds during the closing session of the National People’s Congress (NPC) at the Great Hall of the People in Beijing, Thursday, March 11, 2021. China’s ceremonial legislature on Thursday endorsed the ruling Communist Party’s latest move to tighten control over Hong Kong by reducing the role of its public in picking the territory’s leaders. (AP Photo/Sam McNeil) Dear President Xi Jinping, I’m writing to you respectfully as a citizen of the United States and of… Source link