China

China Focus: Vast elderly, rural population power China’s dialect-related industries

Xinhua News Agency | Apr 15, 2019 at 1:12 PM
  • As writer Han sits in a sport utility vehicle in southwest China’s Chongqing Municipality, he speaks to the car in a strong Chongqing dialect to control its functions.
  • The situation has given smart equipment able to recognize Chinese dialects an edge to compete in the market.
  • The bank currently has 1,775 branches all over Chongqing’s urban and rural areas.

United States

Jack Ma endorses China’s controversial 12 hours a day, 6 days a week work culture

CNN | Apr 15, 2019 at 12:29 PM
  • Hong Kong (CNN Business)One of China’s richest men has been criticized for endorsing the controversial culture of 12-hour workdays in the country’s red-hot tech industry, saying employees who worked longer hours will get the “rewards of hard work.”
  • Other high-profile figures in China’s tech industry have reportedly defended long working hours in the technology industry.
  • Richard Liu, founder of Alibaba rival JD.com, reportedly criticized employees at the company who did not work hard enough as “slackers.”

Korea, Republic of

Hyundai to Claw Back Sales with New Santa Fe SUV in China

Chosun Ilbo | Apr 15, 2019 at 11:24 AM
  • Hyundai released its latest Santa Fe SUV in China on Saturday.
  • Sluggish sales forced Hyundai to temporarily halt operations at its plant in Beijing.
  • Hyundai collaborated with Chinese Internet search behemoth Baidu to develop cars equipped with voice-activated, connected car technologies.

United States

Exclusive: Toyota sells electric vehicle technology to Chinese startup Singulato

Reuters | Apr 15, 2019 at 11:15 AM
  • In return, Toyota will have preferential rights to purchase green-car credits that Singulato will generate under China’s new quota system for all-electric and plug-in hybrid vehicles.
  • It plans to sell its first self-developed battery electric car called the iS6 this year, competing with models from rival startups like Nio and WM Motor as well as those from global automakers.
  • The deal is part of efforts to share more technology with China as the Japanese automaker seeks more growth in the world’s largest auto market by beefing up manufacturing capacity and distribution channels.

United States

German prosecutors press charges against former VW CEO Winterkorn

Reuters | Apr 15, 2019 at 11:10 AM
  • Prosecutors in the German city of Braunschweig said on Monday they were pressing criminal charges against former Volkswagen Chief Executive Martin Winterkorn in connection with the carmaker’s manipulation of diesel emissions testing.
  • VW has had to recall hundreds of thousands of cars around the world since it admitted in Sept. 2015 to installing illegal software in diesel engines to cheat strict U.S. anti-pollution tests.

United States

EU moves to limit focus of trade talks with US

Fox Business | Apr 15, 2019 at 11:02 AM
  • The European Union approved Monday its terms for negotiating a new trade deal with the United States.
  • The trade talks are the result of a preliminary deal reached last July by European Commission President Jean-Claude Juncker and U.S. President Donald Trump as Brussels sought to head off a looming trans-Atlantic trade war after Trump slapped tariffs on imports of EU steel and aluminum.
  • Trump imposed tariffs of 25 percent on steel imports and 10 percent on imported aluminum from the EU on June 1.

United States

EU countries back starting trade talks with United States

Reuters | Apr 15, 2019 at 10:56 AM
  • European Union countries gave final clearance on Monday to start formal trade talks with the United States after months of delay due to French resistance.
  • In the end, the EU governments voted by a clear majority to approve the negotiating mandates proposed by the European Commission.
  • The Trump administration has a wide-ranging wish list, including comprehensive agricultural market access.