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

Jun 07, 2023 05:22 AM

Tobacco Graft Crackdown Nets Another Retired Executive
Wu Yi, former deputy general manager of China Tobacco Yunnan, comes under investigation four days after former colleague Zhu Shaoming
Jun 07, 2023 05:08 AM

Fosun Pharma Secures $54 Million of IFC Loans for West Africa Plant
Côte d’Ivoire factory will produce anti-malaria and anti-bacterial drugs to improve public health across the region, World Bank unit says
Jun 07, 2023 03:14 AM

Junshi Biosciences Aims to Raise $4.77 Million From International Share Sale
Money-losing Chinese cancer drug maker plans offering of global depositary receipts to be listed on Swiss exchange as it raises cash for R&D
Jun 06, 2023 20:50 PM

In Depth: U.S. Tensions Could Sap Chinese EV-Battery Makers’ Global Ambitions
World leader CATL and its peers face policy headwinds in the West that could benefit South Korean, Japanese rivals
Jun 06, 2023 05:12 AM

CATL Shares Nosedive Amid Speculation on Weakened Tesla Tie
Chinese battery giant denies report of change in strategic relationship with its biggest customer because of new U.S. EV subsidy rules
Jun 03, 2023 19:43 PM

Chinese Computer Maker Says Its Chip was Made With ‘Support’ From Intel
Powerleader Computer System came under fire after industry experts revealed its new processor unit was seemingly identical to a product made by the U.S. giant
Jun 03, 2023 04:27 AM

Tobacco Corruption Probe Ensnares Retired Top Yunnan Executive
Zhu Shaoming, former head of China Tobacco’s biggest provincial unit, comes under investigation by graft busters
Jun 03, 2023 03:54 AM

Syngenta’s $9.4 Billion IPO Picks Up Steam in Shanghai
Year’s biggest share sale starts clicking along after the ChemChina unit abandoned its STAR Market plan
Jun 02, 2023 05:01 AM

China Southern Plans $2.47 Billion Share Placement
Airline plans to use most of the funds to pay for 50 new Airbus planes, part of a mega fleet expansion announced last July by three biggest state-owned carriers
Jun 02, 2023 03:46 AM

Wanda Group Expects to Pay $281 Million Note Due Saturday
Troubled conglomerate is in talks with several potential buyers of shopping malls and hotels as it scrambles to repay $1.25 billion within two months
May 31, 2023 05:45 AM

Wanda May Offload Malls and Hotels Amid Fading HK Share Sale Prospects
Embattled Chinese real estate giant needs to increase liquidity as planned Zhuhai Wanda flotation appears uncertain
May 30, 2023 20:42 PM

China’s EV Industry Calls on Regulators to Curb the Back-Seat Driving
With electric car demand strong, many executives and auto experts say the government should take a step back and let the market dictate the next phase of EV development
May 29, 2023 20:25 PM

Chinese-Developed C919 Completes Maiden Commercial Flight
Manufacturer Comac designed the homegrown airliner as a would-be competitor to Boeing and Airbus’s single-aisle jets
May 27, 2023 18:24 PM

China Battery Maker CALB Rescinds Job Offers to Hundreds of Fresh Graduates, Sources Say
The move comes amid belt tightening due to shifting market demand in the electric vehicle market
May 27, 2023 17:05 PM

Unisplendour Finalizes Plan for $3.5 Billion Buyout of HPE’s Stake in JV
H3C Technologies, which is the exclusive provider of HPE servers, storage and related IT services in China, will become a solely owned unit of Unisplendour
May 26, 2023 03:42 AM

Update: EV Startup Aiways Looks Overseas as Domestic Business Grinds to a Halt, Sources Say
Challenges at home have left the firm struggling with production and paying its staff
May 26, 2023 02:51 AM

Shein Marches Into Amazon-Like Platform to Compete With Temu
Chinese Fast-fashion giant gears up for head-to-head competition in the U.S. and Mexico after using Brazil as a test bed
May 25, 2023 20:53 PM

Analysis: China’s Holiday Spending Boom Masks Patchy Recovery
Disappointing economic data, including an unexpected contraction in manufacturing activity and high youth unemployment highlight uneven recovery from the pandemic
May 25, 2023 20:50 PM

Alibaba to Cut 7% of Cloud Unit’s Staff
The layoffs come as the tech giant prepares to spin off the business before an eventual IPO as part of a major overhaul unveiled in March
May 25, 2023 06:22 AM

Tahoe Group Faces Delisting From Shenzhen Stock Exchange
Debt-ridden developer’s shares have traded below 1 yuan for 13 days and aren’t likely to return to the 1 yuan threshold before the 20-day delisting limit