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

Jun 14, 2022 19:06 PM

China’s Box Office Rebounds as Cinemas Reopen to Rampaging Dinosaurs
Blockbuster premier of Universal’s ‘Jurassic World Dominion’ pushes weekly takings to three-month high
Jun 14, 2022 06:46 AM

Geely Founder Li Shufu Takes Control of Smartphone Maker Meizu
Meizu founder Huang Zhang will retain a 9.79% stake while Alibaba’s Taobao is dumping its entire 27.23% holding
Jun 13, 2022 20:40 PM

Developers’ Desire to Cut Prices Poses Conundrum for Regulators
Property firms in South China ask the local government to relax restrictions on how much they can discount as many struggle to keep much-needed cash coming in
Jun 10, 2022 20:12 PM

China’s Uber for Trucks Shrugs Off Cybersecurity Probe to Report Market-Beating Quarter
Manbang reports 53.7% jump in revenue to 1.3 billion yuan amid robust demand for its freight matching service despite a slow season
Jun 09, 2022 22:16 PM

In Depth: China’s Never-Ending Coal Price Woes
Policies to stabilize the market are proving hard to enforce and geopolitics is causing new problems
Jun 09, 2022 19:17 PM

China’s Baowu Retains Global Steelmaking Crown
The state-owned goliath’s output grew 4.35% last year even as the country produced less steel overall, industry data show
Jun 09, 2022 07:33 AM

Stablecoins Need a Regulatory Framework, Circle Chief Says
Following $400 billion Terra debacle, USDC cryptocurrency’s Jeremy Allaire calls for legislation backing digital assets pegged to official currencies
Jun 08, 2022 20:13 PM

Biden’s Southeast Asia Solar Tariff Reprieve a Bright Spot for Chinese Producers
U.S. temporarily lifts tax on PV cells and modules from suppliers in Cambodia, Malaysia, Thailand and Vietnam, many of which are backed by Chinese companies
Jun 08, 2022 06:26 AM

Tencent, NetEase Miss Out in China’s New Game Approvals
Regulators clear 60 online games in this year’s second batch of authorizations, spurring optimism that authorities will allow more new releases
Jun 07, 2022 19:39 PM

Another Promising Sign for Lithium: Rising Leveraged Bets on Miners
Investors have been buying up shares of the companies with borrowed money over the past two weeks, with Tianqi Lithium topping a recent margin trading list
Jun 06, 2022 19:38 PM

Airbnb Lets Users Export Listings to Rivals as It Checks Out of China
California-based rental giant says it signed agreements to facilitate the transfer of China-based listings to competitors such as Meituan Homestay, Xiaozhu, Tujia and Fliggy
Jun 06, 2022 19:24 PM

State-Owned Firm Plows $180 Million Into Local Private Developer
Henan province-owned company could end up as Central China Real Estate’s largest shareholder if it fails to make debt payments
Jun 04, 2022 16:01 PM

Chinese Energy Titan Sinopec Gets New President
Oil industry veteran Zhao Dong brings financial and overseas business skills to the position
Jun 03, 2022 04:00 AM

Amazon Pulls Kindle E-Reader Out of China
E-commerce giant stops supplying devices to retailers and will close its Chinese digital bookstore next year, following retreats by other U.S. tech companies
Jun 02, 2022 20:02 PM

Lithium Prices to Resume Rise as China’s Local Governments Roll Out EV Subsidies
After Covid lockdowns hurt electric car sales, stimulus policies will have a knock-on effect on the key ingredient for batteries
Jun 02, 2022 18:04 PM

In Depth: Chinese Consumer Startups Find Taking On Global Titans Is No Easy Task
Investors are becoming more cautious as revenue growth falters, profits remain elusive and international leaders rise to the competition
Jun 02, 2022 16:20 PM

China Pushes Ahead With Plan to Cut Reliance on Iron Ore Imports
Government aims to accelerate construction of domestic projects to slash imports over next decades
Jun 01, 2022 21:10 PM

Explosion at North China Gas Pipeline Raises Fresh Safety Worries
A coalbed methane conduit in Shanxi province ruptured for the second time in three years, causing a huge fire
Jun 01, 2022 19:55 PM

China Eases Package Tour Restrictions to Aid Battered Industry
Groups will only be barred from traveling to specific cities with cases, rather than whole regions
Jun 01, 2022 19:47 PM

Air China to Take Over Embattled Regional Airline
Shandong Airlines’ net loss widened in the first quarter and it faces delisting from the Shenzhen bourse