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

Feb 25, 2022 19:54 PM

China’s Smaller Exporters Eye RCEP Trade Pact Countries to Drive Demand
Receipts from goods exporters to member states grew over one-fifth last year, before the agreement had even come into force
Feb 25, 2022 19:26 PM

Solar Plant Installation Cost in China Increases for First Time in 15 Years
Country’s solar energy industry was an investor darling last year, but rising cost raw material is looking to dampen the sentiment
Feb 25, 2022 18:49 PM

Chinese Hotpot Chain Files for Hong Kong IPO
Founded in 2003, Shanghai Yang Guofu says it is raising money to upgrade production facilities and strengthening its R&D
Feb 25, 2022 05:22 AM

Driverless Truck Startup TuSimple Settles U.S. Security Probe
Two board members linked to major backer Sina will exit the board when their terms expire as the company agrees to data restrictions
Feb 24, 2022 20:37 PM

Oil Prices Surge Amid Russian Assault on Ukraine
The conflict has sparked concerns over disruptions to the supply of Russian oil and natural gas, which Europe depends on
Feb 24, 2022 07:15 AM

China’s State Grid Sells AusNet Stake for $1.3 Billion
Investment more than doubles over nine years under the power giant’s overseas electricity transmission and generation market strategy
Feb 23, 2022 15:51 PM

China’s Largest Private Tutor Sinks $907 Million Into the Red After Transformative New Rules
New Oriental ceased all tutoring of K-9 academics, laid off tens of thousands of staff in second half of last year
Feb 22, 2022 20:53 PM

Cathay Pacific Competitor Approved to Fly Out of Hong Kong
Greater Bay Airlines obtains five-year license to operate flights in a city whose airline industry has been ravaged by the pandemic
Feb 22, 2022 20:17 PM

China Warns Consumers About Contaminated U.S.-Made Infant Milk Powder
Some products from an Abbott Laboratories factory in Michigan may contain dangerous bacteria, American regulators say
Feb 22, 2022 04:50 AM

Evergrande Chairman Maintains Commitment to Soccer Club
Hui Ka Yan vows to continue building up the money-losing team as a ‘cradle and platform’ even amid the debt-laden property developer’s liquidity crisis
Feb 22, 2022 04:32 AM

Yango Group Defaults on $657 Million of Bonds
Chinese developer misses $27.3 million of interest payments on two dollar bonds as defaults continue piling up in the real estate industry
Feb 21, 2022 20:59 PM

‘Blood Slave’ in Cambodia Tricked by False Job Ad Throws Spotlight on Recruitment Platforms in China
A Chinese man was kidnapped, tortured and had his blood drawn against his will after responding to a recruitment post on 58.com
Feb 18, 2022 20:48 PM

In Depth: Chinese Companies’ Quest for Indonesian Nickel Grows Perilous
Tsingshan has spearheaded a charge into the Southeast Asian country that has raised questions about whether the firm and its peers in the EV materials industry have overcommitted
Feb 18, 2022 20:29 PM

China Unveils Vast Plan to Build Regional Data Center Clusters
Top economic planner estimates the eight clusters could draw in $63 billion in investment annually
Feb 17, 2022 18:58 PM

Facing a Tough Year Ahead, Chinese Developers Trim Fat
Real estate companies are downsizing headquarters, reassigning staff and streamlining management in hopes of boosting efficiency amid dwindling profit margins
Feb 17, 2022 06:46 AM

Starbucks Raises Prices in China Amid Rising Costs, Slowing Sales
Coffee giant already bumped up U.S. prices and projects several more increases this year because of inflation, supply chain disruptions and higher labor costs
Feb 16, 2022 20:08 PM

CATL Considers Building More Factories Outside China, Including U.S.
The EV battery powerhouse, which has been buffeted by a sell-off of its shares, says the move would localize supplies of its products
Feb 16, 2022 19:49 PM

Rare Earth Prices Hit Record High in China
Index measuring price of nearly two dozen of the elements has doubled since this time last year
Feb 15, 2022 19:49 PM

Trip.com Announces Flexible Work Policy
From March 1, employees of the Chinese travel agency can apply to work remotely for up to two days a week
Feb 14, 2022 20:29 PM

China’s Most Popular Metaverse App Removed From Apple's App Store
Publisher claims user experience suffered due to unexpected demand