Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
PwC Probe Spotlight Shifts to Hong Kong After Record China Fine
Sep 17 2024 // The focus of a lengthy probe into PricewaterhouseCoopers LLP’s China business now shifts to Hong Kong after the accounting firm was hit with a record fine in the mainland over its audit of failed developer China...
PwC’s China Unit Suspended for 6 Months, Hit With Record Fine for Evergrande Audit
Sep 13 2024 // Chinese regulators on Friday hit PwC’s auditing unit in mainland China with a six-month business suspension and a record fine of 441 million yuan ($62 million) over the firm’s audit of troubled property...
China Braces for Another Typhoon After Yagi Slammed South Coast
Sep 12 2024 // Typhoon Bebinca is forecast to hit the east coast of China early Monday, threatening to bring excessive rainfall that could disrupt oil refineries and LNG import terminals and paralyze transport. The expected landfall of...
New Portuguese Government to Keep Ban on Chinese 5G Equipment
Sep 10 2024 // Portugal’s center-right government will keep the previous administration’s ban on telecoms firms using Chinese equipment in their 5G networks, a minister said, despite the projected cost of a position that is...
Germany Cracks Down on China Green Fraud in Deepening Scandal
Sep 6 2024 // German authorities have rejected €18 million ($20 million) worth of carbon credits after finding “irregularities” in China-based projects that were meant to lower emissions. The initiatives, which were run by...
Chinese Hackers Breach US Internet Firms Via Startup, Researcher Says
Aug 27 2024 // The state-sponsored Chinese hacking campaign known as Volt Typhoon is exploiting a bug in a California-based startup to hack American and Indian internet companies, according to security researchers. Volt Typhoon has...
EY, KPMG Benefit Most From PwC China’s Regulatory Woes
Aug 15 2024 // Ernst & Young (EY) and KPMG have snapped up over half of PwC’s corporate clients in China that have fled the market’s leading accounting firm as it faces a regulatory probe, filings show. Chinese...
China Evergrande Group’s Liquidators Start Legal Action Against PwC
Aug 7 2024 // China Evergrande Group’s liquidators have launched court proceedings against PricewaterhouseCoopers LLP, another legal step to recover at least a fraction of creditors’ investments from the property...
US Expected to Propose Barring Chinese Software in Autonomous Vehicles
Aug 6 2024 // The U.S. Commerce Department is expected to propose barring Chinese software in autonomous and connected vehicles in the coming weeks, according to sources briefed on the matter. The Biden administration plans to issue a...
China Asks Large State Financial Institutions to Drop Auditor PwC, Sources Say
Aug 5 2024 // Chinese regulators have in recent months asked several large state-owned clients of PricewaterhouseCoopers (PwC) to drop the auditor as it braces for penalties over its work for troubled property developer Evergrande, said...
Tesla Registers Insurance Brokerage in China, National Corporate Database Shows
Aug 2 2024 // Tesla registered an insurance broking firm in China at the end of July, based on a national corporate information database, in a sign that the U.S. automaker may be trying again to gain approval to sell insurance products...
Suspected Chinese Hackers Hit Taiwanese Research Center
Aug 2 2024 // A hacking group believed to be linked to the Chinese government stole passwords and documentsfrom a Taiwanese government-affiliated research center that specializes in computing, cybersecurity researchers at Cisco Systems...
Typhoon Remnants Bring Rains, Floods That Kill Four in China
Jul 30 2024 // Record rainfall and widespread flooding killed four people in China’s southern province of Hunan, with roads in rural areas damaged and access to electricity and the internet disrupted, state media said on...
Typhoon Gaemi Lashes Southeast China After Pounding Taiwan, Flooding Philippines
Jul 26 2024 // Typhoon Gaemi lashed towns on China’s coastal Fujian province on Friday with heavy rains and strong winds as the most powerful storm to hit the country this year began its widely watched trek into the populous...
Typhoon Gaemi Aims for China, Leaves Vessels Capsized
Jul 25 2024 // Authorities in Taiwan raced to find crew missing from a ship that capsized in bad weather after Typhoon Gaemi ripped through the region before losing strength as it heads toward China. Nine Myanmar nationals were missing...
PwC Weighs Halving of China Financial Services Audit Staff, Sources Say
Jul 16 2024 // PricewaterhouseCoopers (PwC) is considering slashing up to half its financial services auditing staff in China, two people with knowledge of the matter said, as a regulatory investigation and an exodus of clients darken...
Natural Disasters Cost China $13 Billion in January-June
Jul 15 2024 // Natural disasters such as flooding, drought and extreme temperatures cost China 93.16 billion yuan ($12.83 billion) in the first half of this year, with almost 33 million people affected, the government said on...
PwC Starts Mass China Layoffs After Losing Dozens of Clients
Jul 10 2024 // PricewaterhouseCoopers LLP is cutting staff across its China operations, according to people familiar with the matter, after an exodus of corporate clients diminished the accounting firm’s revenue prospects in the...
What Is China’s Planned Financial Stability Law and How Will It Work?
Jul 3 2024 // China is moving closer to unveiling its financial stability law, which includes setting up a fund to rescue troubled financial institutions, as part of Beijing’s broader efforts to prevent systemic financial risks in...
China Refines Financial Stability Law to Strengthen Risk Prevention
Jul 2 2024 // China’s new financial stability law draft bill improved provisions on financial risks prevention and control, according to draft revisions released on Monday. Revisions to the draft bill underwent the second round of...
