Facebook China Status
Many are confused about Facebook’s announcement that it set up an “innovation hub” in China, where its social media platform is blocked. Screenshots were posted of the Facebook subsidiary’s official registration in the city of Hangzhou, Zhejiang Province last week, but the following morning, the registration was no longer available. The Cyberspace Administration of China has announced that Facebook had contacted the relevant government department, but has not been issued to operate in Hangzhou.
BMW Boosts SUV Prices
BMW will increase the prices of two US-made crossover SUVs in China to pass along some of the financial burdens of the new tariffs to customers. BMW is not happy with the outcome, but feels it is necessary to keep the business financially stable. Suggested retail prices of the popular high-margin X5 and X6 SUV models will rise by 4% to 7%, respectively. BMW is absorbing a huge portion of the cost burden itself, and recognizes that it must do so to effectively compete with other luxury car brands in China.
Macau Welcomes Impossible Foods
Impossible Foods is introducing its award-winning, plant-based meatat world-class Asian resort destination Galaxy Macau. Galaxy Macau has many of Asia’s top-ranked restaurants and entertainment venues, and more than 3,000 hotel rooms on the glamorous Cotai Strip. “We’re humbled to launch in Asia’s premier tourist destination at one of the world’s most spectacular resorts. We are confident that chefs and consumers in Macau’s dynamic restaurant scene will fully embrace plant-based meat,” states Impossible Foods Senior Vice President Nick Halla.
Impossible Foods将在世界级的亚洲度假胜地澳门银河中心（Galaxy Macau）推出屡获殊荣的植物性肉类。澳门银河中心拥有许多亚洲顶级餐厅和娱乐场所，以及迷人的金光大道上的3,000多间酒店客房。 “我们很高兴能进入亚洲首屈一指的旅游目的地，同时也是世界上最壮观的度假胜地之一。我们相信，澳门充满活力的餐厅中的厨师和消费者将完全接受植物性肉类，“Impossible Foods高级副总裁Nick Halla表示。
Trade War Benefits Malaysian Company
Kerry Logistics Network is one of the many Malaysian companies that have benefitted from the US-China trade war. Companies are shifting their production lines from China to such destinations to avoid US tariff penalties. “Our clients have been shifting part of their production lines as early as March from China to other Asian countries where they already have manufacturing plants,” states Kerry Logistics Managing Director William Ma Wing-kai. Ma expects that the continual shifting of product bases will lead to trade growth in Malaysia, Vietnam, Myanmar and Laos.
BRI Reshapes the World
China’s Belt and Road Initiative (BRI) is the country’s effort to reshape the world and spur development among participating nations. The initiative aims to create a “community with a shared future for mankind,” and showcases the importance of creating an open, inclusive style of development which all countries can benefit from. Many people support the BRI and are confident that it will succeed, while others are hesitant. Main concerns include debt sustainability, governance flaws and general opacity. Many BRI-related projects have already run into problems due to performance delays, public opposition or national security controversies.