Posts tagged ‘Shenzhen’

28/07/2015

Apple ‘fake factory’ raided in China – BBC News

A factory which allegedly made up to 41,000 fake Apple iPhones has been raided in China, with nine arrests.

iphone 6

The operation reportedly involved “hundreds” of workers repackaging second hand smartphone parts as new iPhones for export, with counterfeit phones produced worth 120m yuan ($19m).

The factory was discovered on 14 May but was revealed on social media by Beijing’s public security bureau on Sunday, according to reports.

The operation was set up in January.

It was led by a husband and wife team, on the northern outskirts of the Chinese capital, according to Beijing authorities.

They said they had been alerted to the factory by US authorities which had seized some of the fake phones.

The reports come amid an official Chinese crackdown on counterfeit goods, with authorities pushing firms to trademark their goods.

China has also agreed to work with the US authorities to try to stem the large quantities of fake goods flowing between the two countries.

The discovery of the factory comes four years after fake Apple stores were found in Kunming city, China.

Discovered by blogger BirdAbroad, the fakes were so convincing she said many of the staff themselves were convinced that they were employed by the US electronics firm.

via Apple ‘fake factory’ raided in China – BBC News.

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27/07/2015

China Stocks Make Sharpest Daily Fall Since 2007 – China Real Time Report – WSJ

China stocks made their sharpest daily percentage decline since 2007, as worries mount that authorities are pulling back on its measures to prop up the market. As WSJ’s Chao Deng reports:

The Shanghai Composite Index ended down 8.5% at 3725.56, its second-straight day of losses and worst daily percentage fall since February 27, 2007. China’s main index is up 6% from its recent low on July 8, but still off 28% from its high in June.

The smaller Shenzhen Composite fell 7% to 2160.09 and the small-cap ChiNext Closed 7.4% Lower at 2683.45

Analysts say the selling came as investors fear the government is curbing its buying of blue-chip stocks—and could even be testing whether the market can support itself.

“The previous support from the government funds is apparently unsustainable,” said Jacky Zhang, an analyst at BOC International. “They may withdraw support today to test whether the market has recovered its resilience. The government wants to use state funds to stabilize the market, not to prop it back to 5,000 point overnight.”

via China Stocks Make Sharpest Daily Fall Since 2007 – China Real Time Report – WSJ.

28/01/2015

Car ownership tops 154 million in China in 2014 – Xinhua | English.news.cn

China added a record 17 million new cars on the road in 2014 as car ownership reaches 154 million, said the Ministry of Public Security on Tuesday.

Strong demand for cars has helped the automobile replace the motorcycle as the main method of transportation. Cars made up 58.6 percent of total motor vehicles, a sharp rise from 43.9 percent five years ago.

The number of people obtaining driving licenses also ballooned from 219 million in 2013 to 247 million as of the end of 2014, said the ministry, adding 29.7 million drivers have fewer than one year’s driving experience.

Of the 35 cities which have more than one million cars each, ten have more than two million cars, including Beijing, Chengdu, Shenzhen, Tianjin, Shanghai, Guangzhou and Chongqing.

The ministry said the number of passenger cars has reached 117 million, 90 percent of which are private cars. Beijing ha