New Analysis Amid a grim outlook of the Chinese economy, particularly its technology sector, foreign investors have been cashing out their gains on Chinese stocks, fearing their values might plummet further. Meanwhile, some investors have turned their attention to Taiwanese tech firms. Berkshire Hathaway, Warren Buffett’s investment firm, has reduced its holdings of BYD, a…
Investors Worldwide Further Reduce Stakes in Chinese Tech Firms, Some Shift Investment to Taiwan
December 26, 2022
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TSMC Surpasses Tencent as Highest Value Company in Asia, as Top Chinese Firms Drop From Global 500 Ranking
December 19, 2022
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Top Chinese companies have tumbled in market cap, with 12 firms dropping out of the 2022 Hurun Global 500, a list of the 500 most-valued, non-state-owned firms in the world. According to the 2022 report released by the Shanghai-based Hurun Research Institute on Dec. 9, the United States leads the world with a total of 260…
Fearing Revenue Losses, Local Governments Mobilize Veterans to Cover Worker Shortage at Foxconn
November 27, 2022
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Municipal authorities of Zhengzhou city in central China’s Henan Province, where the Taiwanese company Foxconn has its biggest factory, are mobilizing ex-soldiers to make up for the shortage of workers caused by the ongoing zero-COVID approach. Earlier this month, many civil servants in Henan Province were notified to mobilize grassroots cadres and retired soldiers to…
Foxconn Apologizes After Protest Erupted at China Factory
BEIJING—The company that assembles Apple Inc.’s iPhones apologized Thursday for a pay dispute that triggered employee protests at a factory where anti-virus controls have slowed production. Employees complained Foxconn Technology Group changed the terms of wages offered to attract them to the factory in the central city of Zhengzhou. Foxconn is trying to rebuild the…
Violent Protests Erupt at Largest Apple iPhone Factory in China
Hundreds of workers clashed with police at the world’s largest iPhone assembly facility in China, which has been placed under COVID-19 lockdown in recent weeks, according to online videos and workers at the site. “Defend our rights!” workers at Foxconn Technology Group’s factory chanted on Tuesday night, according to a viral video that began circulating on…
Largest Apple iPhone Factory in China Rocked by Protests Over COVID Curbs
Hundreds of workers clashed with police at the world’s largest iPhone assembly facility in China, which has been placed under COVID-19 lockdown in recent weeks, according to online videos and workers at the site. “Defend our rights!” workers at Foxconn Technology Group’s factory chanted on Tuesday night, according to a viral video that began circulating on…
Apple Adjusts Global Supply Chain, Shifting Production from China to India
November 22, 2022
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Amid economic and policy uncertainty in China, the bulk of Apple’s manufacturing is shifting to India. Many suppliers in Apple’s Chinese supply chain have either stopped recruiting or are laying off workers, while Apple’s contract manufacturers in India are furiously hiring. In Shanghai, Pegatron, the second-largest contract manufacturer of Apple in China (after Foxconn) and…
China Calls on Veterans and CCP Members to Help an Apple iPhone Factory
November 22, 2022
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The Chinese regime is recruiting retired soldiers and Chinese Communist Party (CCP) members to work at an Apple iPhone assembly factory in Henan Province after a large number of employees fled a couple of weeks ago due to the strict “zero-COVID” measures. Some China observers are skeptical about the untrained manpower on the production line…
Beijing Insists on Zero-COVID Policy but Blames Local Governments for Excessive Measures
In a press conference on Friday, the Chinese Health Commission insisted the country’s zero-COVID policy is an effective and economic measure for pandemic containment. The officials also blamed local governments such as Zhengzhou for unscientific measures that hurt the economy and frustrated the public. On Nov. 5, the Health Commission emphasized sticking with the policy to…
Long Walk Home: Workers Fleeing Foxconn Are Both Impeded and Helped on Their Way
Large groups of young people can be seen walking in fields and on highways, with suitcases and carrying bags, as they head for home. Video footage of their trek has gone viral in China and abroad, despite the Chinese regime’s strict censorship. Some are seen walking through the gates of once-shut fences, and some are…
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