Apr 08, 2020 19:37 PM- China’s AI Startups Raise Millions, but 2020 Looks to Be Lean Year
- At least three firms have raised over $400 million, but corporate and government spending on the sector is set to slump
Apr 08, 2020 19:21 PM- Aspiring Memory-Chip Maker Gets Nod for $600 Million Fundraising
- GigaDevice Semiconductor will issue new shares through a private placement, with plans to start producing memory chips next year
Apr 07, 2020 20:04 PM- Subsidies to Boost Car Sales Go into Overdrive
- Government tax breaks and cash handouts seek to revive a lagging retail market
Apr 07, 2020 19:52 PM- Guangzhou Boosts Covid-19 Screening in Area Popular With Foreigners
- Steps taken as city’s Yaotai subdistrict emerges as relative hotbed of new infections brought by people coming from abroad into Guangdong province
Apr 07, 2020 18:13 PM- Chairman of Scandal-Hit Luckin Suffers Double Blow to Credit
- Lu Zhengyao defaults on $518 million loan, while Moody’s also downgrades credit ratings for his car rental company
Apr 06, 2020 15:57 PM- Gilead Sciences to Expand Stockpile of Potential Covid-19 Drug
- American biotech firm plans to rapidly expand its supply of remdesivir, which is now being tested on patients
Apr 04, 2020 04:57 AM- In Luckin Debacle, Who’s to Blame for Missing Massive Fraud?
- While Ernst & Young is said to have finally uncovered $310 million overstatement of 2019 revenue, anonymous report back in January was cited by short seller Muddy Waters
Apr 04, 2020 04:40 AM- HNA’s Swissport Hires Houlihan Lokey to Advise on Debt
- Beleaguered airport ground services provider weighs restructuring $1.7 billion of debt as it faces new liquidity crisis amid coronavirus pandemic-driven freezing-up of air travel
Apr 03, 2020 21:38 PM- China’s Latest Round of Solar Subsidy Cuts Falls Hardest on Residential, Distributed Projects
- Reductions of about 50% follow downsizing of national budget for renewables support
Apr 03, 2020 21:06 PM- Chinese Automakers Warned to Brace for Parts Shortages
- Ministry of Commerce official has told car companies to monitor suppliers’ production and stock up on parts to avoid bringing the industry chain to a grinding halt
Apr 03, 2020 17:20 PM- Bank of Jinzhou’s Bottom Line Improves, But Bad Assets Grow
- Troubled lender’s annual report shows its net loss shrank to about 1 billion yuan last year from 4.5 billion in 2018, though its nonperforming loan ratio rose
Apr 03, 2020 03:33 AM- Luckin Coffee’s Shares Plunge 76% on News of $310 Million Fraud
- Fast-growing Chinese rival to Starbucks discloses that former COO inflated 2019 sales and expenses and launches internal investigation
Apr 02, 2020 20:51 PM- Outbreak Can’t Dent Livestreaming E-Commerce in China, but Regulators Are Nervous
- Watchdog says the business is still too immature to provide consumers with proper after-sales protections
Apr 02, 2020 19:58 PM- Top State-Firm Supervisor Launches New Asset Manager
- China Rongtong Asset Management could be part of SASAC’s drive to streamline the roughly 100 entities under its umbrella
Apr 02, 2020 19:28 PM- Bandwidth-Hungry Wireless Carriers Get More Spectrum
- Telecom regulator plans to repurpose frequencies in the 700 MHz range from current use for TV and radio broadcasting
Apr 01, 2020 21:21 PM- Private Zhejiang Refinery Becomes First in Years to Get Export Nod
- State Council move granting Zhejiang Petroleum & Chemical export approval is first since such quotas for nonstate refineries were scrapped in 2017
Apr 01, 2020 21:00 PM- Huawei and ZTE Win Contracts to Build 200,000 5G Base Stations
- Results of state-owned China Mobile’s tender show home market could be safe haven for embattled telecom firms
Apr 01, 2020 19:46 PM- Tencent, NetEase Tie Up With Universal Music, Rock Records
- WeChat owner Tencent and one of its top gaming rivals have both announced strategic tie-ups with major international music labels, reflecting stiff competition for content
Apr 01, 2020 03:43 AM- China Extends Electric Vehicle Incentives by Two Years
- Subsidies for manufacturers and tax waivers for consumers to continue through 2022 as Covid-19 fallout amid prolonged auto sales slump hit NEV market
Mar 31, 2020 21:33 PM- Oil Giant Sinopec Profits Fall 8.7% as Refining Business Struggles
- The state-owned company has cut its capital spending budget for this year to counter the fallout from the coronavirus and a depressed oil price
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