Business Brief (Nov. 6): China to Lift Export Controls on U.S. Firms
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China to lift export curbs on U.S. firms
To implement a consensus reached during economic and trade talks in Kuala Lumpur, China’s Ministry of Commerce announced it will adjust its export control lists. Effective Nov. 10, China will stop restrictive measures against 15 U.S. entities and suspend them for one year for another 16 entities. On the same day, China will also stop measures announced in a March 4 notice related to its unreliable entity list and continue to suspend for one year measures from an April 4 notice.
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- China lifted export curbs on 15 U.S. firms and extended a visa-free policy for France and Sweden; will host the APEC summit in Shenzhen in 2026.
- Chinese authorities outlined plans for AI healthcare adoption by 2030; ByteDance is recruiting for embodied AI development.
- Bank of China issued a record 3 billion yuan loan to Turkish Airlines; Alibaba rebrands Ele.me as Taobao Flash; Microsoft invests in UAE AI projects.
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Who’s Who
- ByteDance Ltd.
- ByteDance Ltd. is actively recruiting an embodied AI algorithm expert, offering a high monthly salary of 95,000 to 120,000 yuan. This role, under its Volcano Engine business, focuses on leading the research and development of operating algorithms for humanoid embodied robots.
- Bank of China Ltd.
- Bank of China Ltd. issued the largest-ever yuan-denominated loan in the Turkish market. This five-year loan of nearly 3 billion yuan was provided to Turkish Airlines. This marks Turkish Airlines' first yuan-financed deal, contributing to the internationalization of the currency.
- Turkish Airlines
- Turkish Airlines has secured a significant five-year loan of nearly 3 billion yuan from Bank of China Ltd. This marks the largest single yuan-denominated loan in the Turkish market to date and is the first time the airline has utilized yuan for financing, highlighting a step towards the internationalization of the Chinese currency.
- Alibaba
- Alibaba's food delivery service, Ele.me, is undergoing internal testing for a rebranding. It will officially be known as Taobao Flash.
- Ele.me
- Ele.me, Alibaba's food delivery service, is set to be officially rebranded as Taobao Flash. The company is currently undergoing internal testing for this change. This indicates a strategic shift or integration within Alibaba's ecosystem to possibly leverage the Taobao brand for its delivery services.
- XPeng Inc.
- XPeng Inc. (小鹏汽车) is mentioned in the article as planning to launch three robotaxi models. The company aims to begin trial operations for these robotaxis next year.
- Microsoft
- Microsoft has announced a significant investment in AI projects within the UAE. The article does not provide further details about Microsoft's specific AI investments or their nature.
- Goldman Sachs
- Vice Premier He Lifeng met with Goldman Sachs Chairman David Solomon.
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What Happened When
- Mar. 4, 2025：
- Notice related to China’s unreliable entity list was announced.
- Apr. 4, 2025：
- Notice with measures relevant to US entities was announced.
- First 10 months of 2025：
- Hong Kong’s IPO fundraising ranked first globally.
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