Business trumps politics for Chinese companies at CES

Las Vegas (AFP) – Xiaoyu Fan smiled as she looked around a bustling China Pavilion at the Consumer Electronics Show Wednesday as gadgets like bladeless fans were displayed and deals were being made.

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Hundreds of Chinese companies were at the annual CES gadget extravaganza, shrugging off US-China political trade tensions and focusing on taking care of business.

“I believe all the people in each country are very good, the civilization of each country is very nice, very friendly,” said Fan, who was with the Zhejiang Crossbow Brand Electric Appliance Company from Wuyi, China.

“We don’t care about the governments; that’s not our business” she added, a necklace around her neck spelling out the word “peace.”

About 500 of the 3,500 or so exhibitors at CES are from China, more than last year but still not at pre-Covid numbers, according to the Consumer Technology Association that runs CES.

“The Chinese are back,” association president Gary Shapiro said in the lead-up to the Las Vegas show that ends on Friday.

Chinese titans like TCL and Hisense dazzled CES goers with stunning televisions while less well-known companies showed off robots, drones, electronic bikes, charging cables and much more.

TCL’s partnership with the US National Football League was the main theme at a CES press event, complete with appearances by sports legends.

“They certainly seemed like a red-blooded American company that drinks beer and watches football,” said Techsponential analyst Avi Greengart.

-‘Copycats’ no more? –

Chinese business leaders at CES included Appotronics chief executive Li Yi, whose company specializes in laser display technology used by major companies including car makers BMW and BYD.

To Li, it seemed tension between the United States and China on the trade front was beginning to stabilize, and that the issue was more a battle over high technology than the type of consumer tech packing CES.

“For Chinese brands, being in the US is tough in today’s climate,” Li acknowledged to AFP.

“But there is also an emerging opportunity; components technology companies are starting to see this as a chance to emerge.”

Chinese companies at CES played up innovation, wanting their country to be seen as a technology leader rather than just a place where things can be made cheaply.

“People typically think we are a manufacturing powerhouse, and then people think we are copycats,” Li said of attitudes towards Chinese entrepreneurs.

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Trump’s Business Empire Is Worth at Least $1.2 Billion Since He Left Office

(Bloomberg) — Former President Donald Trump values his business empire at a minimum of $1.2 billion, a federal document released Friday showed, as he cashed in from speaking engagements and ventures such as digital trading cards after he left office.

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His empire generated at least $282 million over 2021 and most of 2022, according to the 101-page financial disclosure report filed with the Federal Election Commission as he campaigns for the 2024 Republican presidential nomination.

Exact figures are difficult to ascertain — both because many of Trump’s holdings are in illiquid real estate assets and because federal disclosures require reporting only in broad ranges, with the top one over $50 million. There were 19 assets Trump valued in that range, including his golf clubs in Virginia and Turnberry, Scotland.

Still, the filing showed that Trump, who highlighted his business experience during his first White House campaign, remains a wealthy man and has found ways to profit from his political career during his post-presidency. He made as much as $1 million from selling the digital trading cards featuring cartoon images of him in superhero poses.

The value of his holdings in Trump Media & Technology Group Corp., the parent company of his Twitter-like Truth Social website, was $5 million to $25 million. Trump owns 90% of the company, which is seeking regulatory approval to be acquired by the blank-check company Digital World Acquisition Corp.

Trump didn’t disclose those who paid him more than $5 million in speaking fees. In 2016, he criticized his Democratic opponent, Hillary Clinton, for earning millions for giving speeches to corporate clients such as Goldman Sachs Group Inc., payments she made public. Candidates are required to disclose any source paying them $5,000 or more during the filing period.

Trump listed debts totaling at least $225 million. That included mortgages of more than $50 million he took on Trump Tower in New York and Trump National Doral in Florida in 2022 from Axos Bank. He paid off at least $165 million in debts, including loans from Deutsche Bank on Trump Tower and the former Trump International Hotel in Washington, which he sold.

Melania Trump, who made little outside income while she was first lady, has also fared well after leaving the White House. She reported between $1 million to $5 million through royalties from her modeling career and from a line of

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