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China intends to implement the ambitious plan of the head of the People's Republic of China, Xi Jinping, to turn the previously abandoned region into a new technological and innovation center called Xiongan New Area, where only clean energy will be used, Bloomberg reports. More than half of the energy consumption in the new economic zone will be electricity. The authorities of China, the world's largest supplier of clean energy sources, intend to create a new special economic zone the size of New York, 100 kilometers from Beijing. It is planned that Xiongan New Area will assume “non-capital functions” instead of the Chinese capital.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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