Business and Tech News in China: internet giants, startups, SOEs

Nov 28, 2022 20:36 PM

Covid Lockdowns Set to Snap China’s Car Sales Winning Streak
Deliveries to auto dealerships fell 8% in the first 20 days of November with disruptions to logistics networks also weighing
Nov 25, 2022 20:31 PM

Foreign Investors Wary of China Developers Despite More Support, Analysts Say
JPMorgan says government assistance is aimed at checking contagion risks in the battered property sector rather than providing stimulus
Nov 24, 2022 19:41 PM

Carmaker BYD to Hike Prices as Cost Pressure Mounts
Announcement comes as China is set to end subsidies for purchases of EVs and hybrid vehicles in 2023
Nov 24, 2022 16:49 PM

In Depth: Cosco Alters Course in the Face of Shipping Headwinds
As the global shipping industry runs out of steam from the pandemic boom, the Chinese state-owned giant is pouring billions of dollars into a controversial shift in business strategy
Nov 24, 2022 08:33 AM

Top Tencent Investor Naspers Considers Selling Meituan Shares
South African media giant may cash out its $4.6 billion special dividend stake in the food delivery platform as it funds a massive share buyback of its own
Nov 23, 2022 19:43 PM

China’s Covid-Hit Cinemas Hope ‘Avatar’ Sequel Will Bring a Galactic Boost
‘Avatar: The Way of Water’ to be released on Dec. 16, the same date as the U.S., even though just under half the nation’s cinemas have been shuttered due to lockdowns
Nov 23, 2022 18:16 PM

Chinese Mechanical-Equipment Maker Says Its Chair Faces Insider-Trading Probe
Guangzhou Haozhi’s Shenzhen-listed shares plunge nearly 16% after the company revealed Chairman Tang Lijun is being investigated by the national securities regulator
Nov 23, 2022 05:52 AM

China Proposes Tougher Restrictions on Unfair Digital Competition
Platforms like Alibaba, Tencent and JD.com would face steep penalties under revised law barring ‘picking sides,’ price manipulation and ‘walled gardens’
Nov 22, 2022 21:07 PM

In Depth: China’s Struggle for Data Security
Organizations from hospitals to police departments are accumulating vast amounts of personal information, but these huge stores are often poorly guarded, making them honey pots for hackers
Nov 22, 2022 20:48 PM

China’s Top Nickel Trader Mines for $600 Million in Hong Kong IPO
Lygend Resources & Technology plans to use the new capital to expand its Indonesia-based operations
Nov 22, 2022 05:59 AM

Exclusive: STX Dalian Shipyard Resumes Operation After Hengli Takeover
Idled since 2015, shipbuilding site emerges from bankruptcy as conglomerate Hengli moves to expand its shipping fleet
Nov 21, 2022 20:45 PM

Pony.ai Turns to Assisted Driving as Fully Autonomous Tech Hits Barriers
The startup seeks new revenue streams as its core business faces safety and cost roadblocks
Nov 19, 2022 17:24 PM

Flights to China Still Lag Demand Despite Easing of Some Covid Restrictions, Sources Say
Tickets from hubs like Singapore and Bangkok remain hard to get and expensive, dashing hopes of a quick resumption of inbound travel
Nov 18, 2022 21:09 PM

Caixin Summit: Energy Expert Pours Cold Water on Hydrogen Hopes
Equipment powered by hydrogen will inevitably be costlier to run than that which directly uses electricity, Zhou Dadi tells forum
Nov 17, 2022 19:42 PM

Amid Eye-Watering Lithium Prices, Battery Chief Warns of Overcapacity
Eve Energy Chairman Liu Jincheng says the market could begin to suffer from excess production as soon as next year
Nov 17, 2022 04:03 AM

Exclusive: Upstart SPS Shipyard Lands $580 Million Order for 14 Ships
Founder Luan Xiaoming plans to revive shipyard abandoned by bankrupt Rongsheng Heavy Industries, where he was a top executive
Nov 16, 2022 20:05 PM

China Eases Some Restrictions on Travel Agencies’ Cross-Province Services
The tourism ministry abolished the ‘circuit breaker’ system that barred cross-region tours to a destination where any county or district had areas designated ‘middle-risk’ or ‘high-risk’ for Covid
Nov 16, 2022 19:59 PM

Discounted Booze Pits JD.com Against One of China’s Largest Liquor-Makers
Sichuan-based Luzhou Laojiao accused the e-commerce heavyweight of undermining its pricing power for selling one of its top-shelf brands at a discount
Nov 16, 2022 17:11 PM

BYD Parks Chip Unit IPO
The Chinese carmaker says it had to postpone the planned listing because of how an investment in the subsidiary will affect its balance sheet
Nov 16, 2022 05:43 AM

Embattled Online Grocery Missfresh Faces Debt Claims in 1,400 Lawsuits
Former employers and suppliers demand $115 million, and the company has only 55 employees left, according to belated 2021 annual report