Chinese

In Depth: How Chinese companies can exit social credit blacklists

Authorities in eastern China’s Wenzhou caught a pet products store selling veterinary drugs in October 2018 without a license. They fined the owner 10,000 yuan ($1,405) and added his company to an online government list of businesses recently cited for illegal activities.

The online listing was part of China’s six-year-old push to create a corporate social credit scoring system to improve the country’s business environment by tracking unscrupulous companies.

The Wenzhou pet products store owner, who asked to be identified using the pseudonym Zhang out of privacy concerns, said he expected his business to remain on the list for several

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US to suspend entry of Chinese students with military ties

PALO ALTO, U.S. — President Donald Trump said Friday that Chinese students and scholars considered to have ties to China’s military will not be allowed entry into the U.S. to pursue graduate level research.

A statement released later by the White House said the new measures go into effect as of 12:00 p.m. eastern daylight time on June 1.

The secretary of state will also consider whether to revoke the legal status of some Chinese nationals who are currently in the country on F student or J researcher visas and are suspected of military ties, according to the announcement.

The

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SoftBank leads $500m funding in Chinese ride-hailer Didi

HONG KONG/TOKYO China’s largest ride-hailing company Didi Chuxing has raised $500 million for its autonomous driving subsidiary in a funding round led by SoftBank.

The investment, the largest single funding round in China’s autonomous driving sector, marks Didi’s growing ambition in developing its own self-driving fleets as competition heats up and more companies begin launching robotaxi services to the public.

Didi said on Friday that the new funds will be used for research on autonomous driving technology and fleet testing, as well as industry cooperation with an aim to achieving mass production.

The Chinese ride-hailing giant entered the autonomous driving

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Volkswagen takes 50% stake in Chinese carmaker’s parent

BEIJING — Volkswagen has agreed to acquire a 50% stake in the parent company of Anhui Jianghuai Automobile Group, in the hopes of cementing its foothold in China and leaving behind its Japanese rival Toyota Motor.

China also wants to deepen its relationship with Germany by supporting the German automaker’s business expansion in the country, as its relations with the U.S. continue to deteriorate.

Anhui Jianghuai Automobile Group Holding, the parent company of JAC and a wholly owned subsidiary of the Anhui provincial government, will issue new shares by the end of December and Volkswagen will underwrite them.

The parent

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