Company to focus on NAND and SSD technology. 150 Chinese engineers at the site may be asked to relocate to the United States or India.

Executives said they hoped to achieve a risk management solution and would treat all creditors "fairly and follow international practice"

Profits rose 4.2% year-on-year, the slowest rate since April 2020, to 734 billion yuan ($115.9 billion), compared with a 9% gain in November

The US, which is unable to appeal against the decision, branded it "deeply disappointing" and said it reinforced a need to reform WTO rules

The carmaker's biggest growth for the second consecutive year was in China, where sales rose 40% to 4,033 units, while Asia-Pacific sales rose 37%

China rolled out preferential policies in 2021 to deduct and defer taxes and fees to shore up industry and support smaller enterprises

Tencent invested in 258 companies, 60% more than in 2020. Alibaba made 70 investments, up 59% and ByteDance bought into 58 companies, 87% more

Much of the tech world expects the next generation of the internet to be immersive virtual worlds that replicate many aspects of real life

They said a "Three-Year Action Plan for Combating and Controlling Money Laundering Crimes (2022-2024)" would be launched from January 2022

Plan comes as carrier restructures its business with passenger flights grounded since the start of the coronavirus pandemic in March 2020

While Asia-Pacific countries have made strides in controlling bribery much more needs to be done to solve the region’s corruption problems.

"We anticipate an exodus of foreigners, probably the largest that Hong Kong has ever seen, and one of the largest in absolute terms from any city in the region in recent history," it said.