Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

ByteDance-Owned TikTok Was World’s Most Downloaded Social Media App in January
Weibo Shares Plunge on Lower-than-expected Earnings, Weaker 1Q Guidance
China’s Handset Shipments Plummet Nearly 40% in January
China Has More Billionaires Than U.S. And India Combined: Hurun Report
Didi to Launch Food Delivery Service in Japan
NIO Strikes Government Deal with New Headquarters and New Funding Plan
Daimler Slims Down China Venture in Global Cost Saving
U.S. Transport Agency Bans Employees From Using TikTok For Work
Huawei Launches New Foldable Smartphone, Targets Android Market with HMS
Industries Switch Up Production Processes to Use Byproducts to Produce Medical Supplies
China Plans to Mass Produce Driverless Cars by 2025 Later Than Previous Forecast
U.S. Companies Fluctuate on Wall Street as Covid-19 Hits Their 2020 Forecasts
Snack Shop Serves Up First IPO from Wuhan Since Covid-19 Outbreak Took Hold
Chinese AI Firm Laiye Secures $42 Million in Series C Funding Round
Japan’s Finance Minister Expresses Concerns Over China’s Digital Yuan
U.S. Allows China’s iFlyTek to Resume Purchases of American-Made Medical Products During Outbreak
China Accounts For Nearly Half of All Global 5G Smartphone Shipments in 2019: Research
Xiaomi-Backed Smart Home Cleaner Maker Raises $641 Million in Shanghai IPO
Foxconn Allows Henan Workers to Return to Its Zhengzhou Complex
Alibaba-Owned Livestreaming Platform Taobao Live Sees Rapid Growth Amid Outbreak
Chinese Company Buys UK Steel Trading Company Stemcor

By Lu Yutong / Jan 23, 2020 04:00 PM / Business & Tech



China’s commodities company Cedar Holdings has acquired London-based Stemcor Group, one of the world’s largest independent steel companies, according to a statement issued by Stemcor.

Cedar signed a fully-financed contract with Stemcor to acquire the company Monday during the 2020 World Economic Forum in Davos. The deal is expected to be finalized in the first half of the year, the statement said, but details of the transaction have not been undisclosed.

The move aims to stabilize Cedar’s global supply chain, according to Gang Han, vice president of the company. Founded in 1997, Cedar is a private firm which built up commodity supply chains by setting up subsidiaries in fields like chemistry and non-ferrous metals. By the end of 2019, it extended its businesses to Europe, America and Africa.

“Stemcor has a well-established global sales network, which will offer potential synergies with the existing domestic and international business of Cedar Holdings.” Gang said.

Read the full story on Caixin Global later.

Contact reporter Lu Yutong (

Share this article
Open WeChat and scan the QR code