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

Apr 24, 2023 20:48 PM

China Loses More of Its Share of U.S. Imports to ‘Low-Cost’ Asian Rivals
Some companies are diversifying their supply chains away from the mainland and Hong Kong due to concerns about rising labor costs, geopolitical tensions and supply chain resilience, according to a research report
Apr 24, 2023 15:05 PM

JD.com Is Worst China Bet as Reopening Play Fades
After dropping 37% since the start of the year, the online retailer trails all its peers in the Hang Seng Tech Index
Apr 22, 2023 02:34 AM

Bidders in Guangzhou Land Sale Cry Foul on Lottery Results
State-owned China Resources Land wins coveted properties, prompting losers to challenge the process and demand an investigation
Apr 21, 2023 20:30 PM

Jack Ma Appointed Honorary Professor at the University of Hong Kong
The Alibaba co-founder will focus on conducting research in finance, agriculture and entrepreneurial innovations with the HKU faculty, with no plans for public lectures or speeches, reports say
Apr 21, 2023 20:03 PM

China’s Telecom Giants Plan to Go Deeper Into the Cloud
China Telecom, China Unicom and China Mobile’s triple-digit growth in 2022 is posing a challenge to a market dominated by privately owned tech firms
Apr 21, 2023 05:40 AM

BYD to Build $290 Million Battery Components Plant in Chile
Chinese EV giant will get Chilean lithium at discounted prices while gaining a foothold in a free-trade partner of the U.S.
Apr 21, 2023 02:11 AM

Alibaba Logistics Arm Cainiao Gears Up for Hong Kong IPO
Share sale would be the first by one of the $220 billion e-commerce giant’s six units under a sweeping restructuring plan
Apr 20, 2023 21:11 PM

Canton Fair Buyers Shun Finished Goods in Sign of Manufacturing Exodus, Insiders Say
Buyers at the Canton Fair plan to transport parts back to their home countries for assembly, in part to avoid high tariffs, Caixin has learned
Apr 20, 2023 19:36 PM

Meituan Muscles In on Livestreaming E-Commerce With Inaugural Event
Some $12.5 million in coupons were sold during a marketing extravaganza that included an 11-hour livestream shopping show, featuring brands such as Luckin Coffee and budget boba tea chain Mixue Bingcheng
Apr 20, 2023 19:01 PM

In Depth: BYD Gears Up for Global Electric Car Race
Following 2022 results that thrilled investors, the Chinese EV giant adds more capacity, accelerates its overseas expansion and muscles into the high-profit luxury market
Apr 20, 2023 03:30 AM

Evergrande’s Multibillion-Dollar Offshore Debt Restructuring Hits Another Barrier
American law firm moves to organize opponents of a plan that emerged last month from an ad hoc group of bondholders to cut returns and extend maturities
Apr 19, 2023 19:53 PM

New EU Carbon Measures Could Hinder Chinese Battery-Makers’ Expansion
A provisional EU policy to make batteries more sustainable and a proposed carbon tax might present fresh obstacles for Chinese companies in one of their largest overseas markets, experts say
Apr 19, 2023 15:23 PM

Update: Tesla Safety Faults Contributed to Worker Fatality in Shanghai, Investigation Finds
Electric vehicle giant should be punished in connection with a February death of a worker who was crushed at the plant, report says
Apr 18, 2023 20:49 PM

In Depth: Long Tethered to Apple, Chinese Suppliers Seek New Options
Executives talk up automobile clients and cross border manufacturing as they stare down geopolitical risks and a consumer electronics slowdown
Apr 17, 2023 20:36 PM

China’s NEV Sales Are Both Surging and Sinking, Depending on the Company
BYD, GAC and Li Auto report surging March sales as price war rages, while competitors suffer big declines
Apr 15, 2023 06:08 AM

China Caps 2023 Steel Production at 2022 Level
Policymakers aim to manage post-pandemic recovery, control oversupply and meet decarbonization targets
Apr 14, 2023 20:47 PM

In Depth: Why China’s Chip Industry Still Holds Sway Despite Export Curbs
Semiconductor tech powerhouses are trying to stymie the country’s access to advanced technology, but it still has room to maneuver as the world’s largest chip market
Apr 14, 2023 06:14 AM

China’s Aviation Industry Picks Up Pace of Recovery
Domestic services rebound to 80% of pre-pandemic levels, but international flights and cargo volume lag behind
Apr 13, 2023 19:45 PM

Developer Sunac’s Stock Collapses as Trading Resumes After One-Year Suspension
Shares of the struggling former property highflyer fall 55% after it regained compliance with Hong Kong listing rules
Apr 13, 2023 04:31 AM

Lithium Price Freefall Wipes Out Gains Since November 2021
Spot price of EV battery-grade lithium carbonate drops below 200,000 yuan a ton with further declines likely