Business — 1,959 insights
Taxi driver denies deliberately ramming car into crowd in HK$8.4m injury lawsuit
Business

Taxi driver denies deliberately ramming car into crowd in HK$8.4m injury lawsuit

Henry Cheng tells court he lost control of vehicle after being attacked by protesters, who targeted him when he rushed through roadblock in 2019 Henry Cheng Kwok-chuen took to the witness box on Friday to defend himself against the claim by Park Hoi-lam, who suffered serious injuries in the collision in Sham Shui Po on October 6, 2019. Park, a kindergarten clerk, accused Cheng of negligence when his taxi mounted a pavement near the junction of Cheung Sha Wan Road and Yen Chow Street and struck her during a demonstration. She sustained serious leg injuries and underwent nine operations. She said she still suffered from knee pain, and that she could not walk for prolonged periods or lift heavy objects.

Tencent fires WeChat manager after 7-figure bonus leaks online, sparks uproar
Business

Tencent fires WeChat manager after 7-figure bonus leaks online, sparks uproar

Screenshots of the executive’s eye-watering compensation went viral on social media, which Tencent said caused a ‘severe negative impact’ Chinese tech giant Tencent Holdings has fired a manager at its WeChat division after details of his multimillion-yuan bonus package leaked online, sparking animated discussion across social media. The employee, surnamed Ye, was dismissed for passing sensitive corporate information to external parties, which caused a “severe negative impact both inside and outside the company”, according to an internal company bulletin seen by three Tencent employees. Ye served as a project manager within Tencent’s Weixin Group – the core engine behind WeChat, China’s ubiquitous super-app with 1.3 billion users – according to the notice issued by the firm’s Anti-Corruption Investigation Department. Tencent did not immediately respond to a request for comment on Friday. The dismissal came after a screenshot detailing Ye’s staggering annual pay began circulating widely on Chinese social media. The image – which appears to be taken from a company platform – revealed the manager had a compensation package worth roughly 3.17 million yuan (US$470,000).

China and Asean eye closer energy cooperation as fighting flares up again in Middle East
Business

China and Asean eye closer energy cooperation as fighting flares up again in Middle East

Southeast Asia is heavily reliant on oil imports and has been severely affected by the closure of the Strait of Hormuz A joint statement was released on Friday after a meeting in Manila between the foreign ministers of China and the Asean, against the backdrop of an ongoing energy crisis. According to the World Economic Forum Asia, 55 per cent of Southeast Asian crude oil imports originate from the Middle East, leaving up to 28 per cent of the region’s final energy consumption exposed to direct disruption. Kao Kim Hourn, the secretary general of Asean, warned last month that the crisis in the Middle East had “laid bare the vulnerability of global energy and food supply chains to geopolitical shocks” and called for deeper cooperation with China. Building on a previous statement from the 11-member bloc, Friday’s joint statement welcomed the ongoing US-Iran negotiations mediated by Pakistan and Qatar and called for a ceasefire and “a peaceful and lasting resolution” to the conflict.

APEC executive director: Crucial to improve interoperability
Business

APEC executive director: Crucial to improve interoperability

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. As the age-old debate over open-source versus closed-source gains new momentum in the AI era, APEC Executive Director Eduardo Pedrosa says the grouping prioritizes interoperability in digital cooperation. He stressed that APEC encourages member economies to learn from one another.

301 tariff relay: Fresh push to sideline US in global trade landscape
Business

301 tariff relay: Fresh push to sideline US in global trade landscape

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. In an aerial view, boats are docked at Dinner Key Marina as the city skyline is seen in the background on July 21, 2026 in Miami, Florida. /VCG Editor's note: He Weiwen is a senior fellow at the Center for China and Globalization, CCG. The article reflects the author's opinions and not necessarily the views of CGTN. The US Trade Representative Jamieson Greer announced on July 23 a sweeping 301 tariff of 10-12.5% on around 60 economies, replacing the Section 122 tariff that expires on July 24. This seamless tariff relay proves again that the Trump administration relies heavily on tariffs as a core economic tool. As Section 122 was the continuation of reciprocal tariffs by other means, the new 301 tariff is also a continuation of the Section 122 tariff by other means. The 301 tariff is a total farce. The US 1974 Trade Expansion Act Section 301 authorizes the USTR to probe into a certain trading partner to find if any discriminatory trade policy is pursued at the cost of American business or families.

BizTalk | China’s vision for AI development and global governance
Business

BizTalk | China’s vision for AI development and global governance

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. The 2026 World Artificial Intelligence Conference (WAIC) concluded on July 20 in Shanghai. In this special episode of BizTalk, CGTN's Lily Lyu speaks to industry observers and researchers from Boston Consulting Group and Techmoat Consulting to discuss the outcomes of the conference and delve into how China is leveraging WAIC as a premier industrial platform to foster dialogue, bridge divides and promote shared governance.

Jeffrey Towson: China’s abundant talent propels AI innovation
Business

Jeffrey Towson: China’s abundant talent propels AI innovation

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. The race for artificial intelligence (AI) is increasingly a race for researchers, not only chips, compute or infrastructure. According to the latest MacroPolo AI report, China is now the largest source of elite AI researchers, with 38% of the world’s top AI researchers having completed their undergraduate studies in China. Speaking to CGTN, digital and AI management expert Jeffrey Towson says he believes that China's abundant AI talent pool serves as a powerful counterbalance to its constraints in compute and hardware.

BCG: China’s vision of AI future – open and inclusive
Business

BCG: China’s vision of AI future – open and inclusive

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. China is cultivating an open and inclusive artificial intelligence (AI) ecosystem by inviting the Global South countries to join, said Yu Chenao, managing director and partner at the Boston Consulting Group. He explains how exactly China is shaping the AI-powered future.

China adds 14 EU entities to export control list: Commerce Ministry
Business

China adds 14 EU entities to export control list: Commerce Ministry

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. China has added 14 European Union entities to its export control list, banning the export of dual-use items to the entities, with immediate effect, the Ministry of Commerce announced on Friday. The decision was made in accordance with Chinese laws and regulations to safeguard national security and interests and fulfill international non-proliferation obligations, the ministry said in a statement. Among those placed on the list are Germany's defense contractor and vehicle maker Rheinmetall AG and Poland-based electronics firm Vigo Photonics S.A., it added. (Cover: the Ministry of Commerce building in Beijing, June 30, 2026. /VCG)

China reaffirms tariff, trade wars serve no one’s interests
Business

China reaffirms tariff, trade wars serve no one’s interests

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. Containers dock at the Lianyungang Port in Jiangsu Province, east China, June 24, 2026. /VCG The Chinese Foreign Ministry on Friday reaffirmed its consistent and clear-cut stance on China-US economic and trade issues, emphasizing that tariff and trade wars run counter to the interests of all parties involved. China opposes all forms of unilateral tariff measures, said Lin Jian, a spokesperson for the ministry, at a regular press briefing. Lin's remarks come after the United States said on Thursday that it will impose tariffs of 10 to 12.5% on imported goods from 60 economies starting on Friday, citing Section 301 of the Trade Act of 1974.

Czech Speaker’s China Visit | Czech Firms Eye China Market
Business

Czech Speaker’s China Visit | Czech Firms Eye China Market

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. Marking the first official visit by a Czech lower house speaker in nearly seven years, a high-level delegation led by Chamber of Deputies Speaker Tomio Okamura is touring China, right as the two countries celebrate the 10th anniversary of their strategic partnership. The five-day trip spans Shanghai, Hangzhou and Beijing, centering on pragmatic cooperation in trade, tourism and corporate engagement. Czech enterprises, covering e-commerce, aerospace and renewable energy, gathered in Beijing for the Czech-China Economic and Trade Cooperation Conference, exploring targeted partnerships with Chinese counterparts. CGTN's Feng Yilei spoke with Czech business delegates to discuss market opportunities and the outlook for two-way economic and people-to-people exchanges.

AI spending rattles investors as US tech stocks plunge after earnings
Business

AI spending rattles investors as US tech stocks plunge after earnings

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. Shares of Alphabet and Tesla plunged on Thursday after both companies reported negative free cash flow in their latest quarterly earnings and signaled plans for even heavier investment in artificial intelligence. Tesla shares closed 14.5% lower, wiping out about $200 billion in market value and marking the stock's worst single-day performance since March 2025. Meanwhile, Alphabet, Google's parent company, tumbled 7.1%, losing roughly $300 billion in market capitalization. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, July 23, 2026. /VCG Soaring AI spending overshadowed stronger-than-expected revenue in Q2, as investors grew increasingly concerned about the rapid expansion of capital expenditure. Alphabet lifted its capital expenditure forecast for the year to between $195 billion and $205 billion, up from its previous estimate of $180 billion to $190 billion, while warning that spending could rise further in 2027.