Pfizer signs agreement with China on improving health coverage in the country

Pfizer CEO Albert Bourla speaks during the China Development Forum in Beijing on March 25, 2023. Lintao Zhang | Getty Images News | Getty Images BEIJING — US pharma giant Pfizer has signed an agreement with China to cooperate on improving the country’s health coverage, according to the company. “We are very much aligned with … Read more

China’s debt-heavy local governments look for new ways to raise cash

Pictured here is a large residential community in Nanjing, Jiangsu province, Jan. 16, 2023. Future Publishing | Future Publishing | Getty Images BEIJING — Debt-heavy local governments in China need new ways to raise money under a central regime that’s made clear its priority is to reduce financial risks. Local governments’ direct debt will exceed … Read more

TikTok wants to distance itself from China — but Beijing is getting involved

China and US flags are seen near a TikTok logo in this illustration picture taken July 16, 2020. Florence Lo | Reuters BEIJING — China says it would “strongly oppose” a forced sale of TikTok, making clear the government’s involvement with the social media giant that is trying hard to distance itself from Beijing authorities. … Read more

The Fed is likely to hike rates by a quarter point but it must also reassure it can contain a banking crisis

The Federal Reserve is expected to raise interest rates Wednesday by a quarter point, but it also faces the tough task of reassuring markets it could stem a worse banking crisis. Economists mostly expect the Fed will increase its fed funds target rate range to 4.75% to 5% on Wednesday afternoon, though some expect the … Read more

China’s Xi to go to Russia next week for his first visit since Putin ordered invasion of Ukraine

Russian President Vladimir Putin speaks to China’s President Xi Jinping during the Shanghai Cooperation Organization leaders’ summit in Samarkand on Sept. 16, 2022. Sergei Bobylyov | AFP | Getty Images BEIJING — Chinese President Xi Jinping is set to visit Russia from March 20 to 22, China’s Ministry of Foreign Affairs announced Friday. This is … Read more

Baidu says it can now operate robotaxis in Beijing with no human staff inside

Chinese tech company Baidu announced Monday it can sell some robotaxi rides without any human staff in the vehicles. baidu BEIJING — Chinese tech company baidu announced Friday it can now operate robotaxis in a part of the capital city of Beijing with no human staff or drivers inside. The move eliminates the labor cost … Read more

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