Authorities in northern China have ordered a Coca-Cola bottling plant shut after finding its products were contaminated by chlorine, according to a government statement.
Shanxi Province ordered an investigation after media reports that a batch of drinks contained water with higher levels of chlorine, the province’s quality bureau said at the weekend.
PRODUCTION STOPPED
A receptionist at Coca-Cola Shanxi Beverages Co (可口可樂山西公司) yesterday confirmed that the plant had stopped production, but declined further comment.
Coca-Cola in China could not be reached yesterday, a public holiday.
The contamination occurred in February when water with small amounts of chlorine accidentally flowed into water used for drinks during maintenance work, Xinhua news agency said on Sunday.
WHSTLEBLOWER
An anonymous company whistleblower told local media that nine batches of products were contaminated, it said.
Xinhua quoted an official at the Shanxi plant as saying that its products were safe and did not present a threat to human health.
hazardous
Chlorine is used in water treatment to kill bacteria, but high levels can be hazardous.
China has experienced several scares over food safety in recent years, many blamed on lax supervision or producers deliberately cutting corners and deceiving consumers in search of profits.
GROWTH MARKET
China is one of Coca-Cola’s most important growth markets, accounting for about 7 percent of its global volume last year, the US company said.
Coca-Cola has said it plans to invest more than US$4 billion in China over the next three years starting from this year.
The company has more than 40 bottling plants in China, where it cooperates with Chinese food giant COFCO (中國糧油食品集團) and Hong Kong conglomerate Swire Pacific.
SECOND-RATE: Models distilled from US products do not perform the same as the original and undo measures that ensure the systems are neutral, the US’ cable said The US Department of State has ordered a global push to bring attention to what it said are widespread efforts by Chinese companies, including artificial intelligence (AI) start-up DeepSeek (深度求索), to steal intellectual property from US AI labs, according to a diplomatic cable. The cable, dated Friday and sent to diplomatic and consular posts around the world, instructs diplomatic staff to speak to their foreign counterparts about “concerns over adversaries’ extraction and distillation of US AI models.” Distillation is the process of training smaller AI models using output from larger, more expensive ones to lower the costs of training a powerful new
Singapore-based ride-hailing and delivery giant Grab Holdings’ planned acquisition of Foodpanda’s Taiwan operations has yet to enter the formal review stage, as regulators await supplementary documents, the Fair Trade Commission (FTC) said yesterday. Acting FTC Chairman Chen Chih-min (陳志民) told the legislature’s Economics Committee that although Grab submitted its application on March 27, the case has not been officially accepted because required materials remain incomplete. Once the filing is finalized, the FTC would launch a formal probe into the deal, focusing on issues such as cross-shareholding and potential restrictions on market competition, Chen told lawmakers. Grab last month announced that it would acquire
The artificial intelligence (AI) boom has triggered a seismic reshuffling of global equity markets, with Taiwan and South Korea muscling past European nations one by one. With its stock market now valued at nearly US$4.3 trillion, Taiwan surpassed the UK, Europe’s biggest market, earlier this month, data compiled by Bloomberg showed. South Korea is about US$140 billion away from doing the same. The tech-heavy Asian markets have shot past Germany and France in the past seven months. The shift is largely down to massive gains in shares of three companies that provide essential hardware for AI: Taiwan Semiconductor Manufacturing Co (TSMC, 台積電),
Shares of Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) have repeatedly hit new highs, but an equity analyst said the stock’s valuation remains within a reasonable range and any pullback would likely be technical. The contract chipmaker’s historical price-to-earnings (P/E) ratio has ranged between 20 and 30, Cathay Futures Consultant Co (國泰證期) analyst Tsai Ming-han (蔡明翰) told Central News Agency. With market consensus projecting that TSMC would post earnings per share of about NT$100 (US$3.17) this year, supported by strong global demand for artificial intelligence (AI) applications, and the stock currently trading at a P/E ratio of below 25, Tsai said the valuation