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

May 24, 2023 03:52 AM

Logan and KWG’s HK Luxury Towers May Be Taken Over by Creditors
Both developers defaulted on debts, clearing the way for HSBC, Standard Chartered and ICBC to seize the project on which they issued $1.3 billion of loans
May 24, 2023 03:48 AM

Chinese Supermarket Chains Hit Speed Bumps in Post-Pandemic Recovery
First-quarter sales decline for seven of the 14 publicly traded supermarket chains, and four of them operate in the red
May 23, 2023 21:07 PM

In Depth: Chinese Fast Fashion Platforms Could Be Next U.S. Target
A scathing report from an advisory body to the U.S. Congress has industry insiders expecting firms like Temu and Shein to face regulatory pressure
May 20, 2023 19:32 PM

China-Russia Trade Dominates European Rail Freight As Ukraine War Drags On
The number of freight trains travelling between China and Russia has surged, hauling 90% of the goods traded with Europe
May 19, 2023 19:14 PM

BMW to Produce New Line of EVs in China From 2026
The German auto giant will also make the high-voltage batteries for the cars in the Asian country, where it is planning to invest $1.4 billion in a new factory
May 19, 2023 06:00 AM

Alibaba Kicks Off Overhaul With Spinoff and Share Sale Targets
E-commerce giant to spin off Cloud Intelligence Group through a stock dividend while exploring IPOs for the logistics and grocery arms
May 19, 2023 05:25 AM

Syngenta Moves $9.4 Billion IPO to Main Board in Shanghai
Swiss agricultural chemicals unit of state-owned ChemChina drops plan to sell shares on the Nasdaq-like STAR Market
May 18, 2023 20:32 PM

Chart of the Day: China’s Battery-Makers Carve Out Growing Share in Overseas Markets
Firms including CATL and BYD have accelerated their global expansion as they pursue opportunities in countries where governments are pushing for the auto industry’s electrification
May 18, 2023 04:54 AM

Chinese Domestic Air Travel Bounces Back to Pre-Pandemic Levels
April flights within China top the pre-pandemic level by 3.4%, though the recovery for international travel continues to lag behind
May 18, 2023 04:47 AM

Hengli Expands Revival of Dalian Shipyard With Samsung Order
Shipbuilding unit of private conglomerate Hengli Group will construct blocks for several containerships the South Korean company is building
May 17, 2023 17:54 PM

In Depth: How Smart Cars Are Upending the Auto Supply Chain
EVs and self-driving cars shift the focus of vehicle-making from nuts and bolts to integrated circuits and complex computer systems
May 17, 2023 04:48 AM

Alibaba Transfers Self-Driving Research Team to Cainiao
Move is part of sweeping overhaul of the e-commerce giant in which the logistics arm Cainiao may be the first to go public
May 16, 2023 05:04 AM

Royal Caribbean Cruises in China to Resume in Spring 2024
Spectrum of the Seas to set sail from Shanghai next year following resumption this year by China joint ventures of Viking and Carnival
May 15, 2023 19:06 PM

Nissan’s China Sales Tumble as EV-Makers Gain Ground
The Japanese auto giant sold just over 1 million cars in China last year, a 24.3% drop, according to its earnings report
May 13, 2023 19:15 PM

Update: China Adds Vladivostok as Transit Hub for Domestic Shipments From Northeast Province
From June, goods from Jilin can be shipped through Russia’s main Pacific port Vladivostok
May 13, 2023 04:30 AM

Chinese Battery Makers Cut Production to Ease Glut
April output eases 8.3% from March amid sluggish sales of EVs, but battery makers plan on rebound in May
May 12, 2023 19:12 PM

Analysis: China Shouldn’t Fret Over Overseas Protectionism for Solar Firms
The U.S.’ Inflation Reduction Act and the EU’s Net-Zero Industry Act won’t be able to break China’s ironclad grip of the industry’s supply chain anytime soon
May 12, 2023 06:37 AM

Cosco Cleared for Stake in Hamburg Terminal
German government gives green light to controversial, long-delayed sale of 24.99% of container terminal to Chinese state-owned shipping giant
May 11, 2023 04:08 AM

Chinese Power Plants Generate Better Profits Amid Lower Coal Prices
Datang and Huaneng Power reverse year-earlier losses and post first-quarter earnings as Huadian Power’s net surges 82.3%
May 10, 2023 21:39 PM

Changan JVs Plan to Accelerate EV Transition as Conventional Cars Lose Position
In the face of slumping sales, the state-owned giant’s ventures with Ford and Mazda look to speed up their electrification, Chairman Zhu Huarong says