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

Sep 07, 2023 17:22 PM

Baowu Steel Forges Deal to Develop Simandou Iron Ore Mine
State-backed giant will work with a Chinese-backed consortium to develop the northern part of the Guinean mine, the world’s largest untapped deposit of high-grade iron ore
Sep 06, 2023 06:03 AM

Luckin’s New Moutai-Laced Lattes Create a Stir in China’s Coffee Wars
Beverage with a taste of Kweichow Moutai’s baijiu generates sales of 5.42 million cups on first day and tops discussions on social media
Sep 05, 2023 06:00 AM

China’s ‘Copper King’ Barred From Nonessential Spending
Court issues order affecting billionaire Wang Wenyin and his Amer International Group in relation to contract disputes
Sep 04, 2023 07:27 AM

Cover Story: Are Chinese Solar Giants Flying Too Close to the Sun?
Ballooning excess capacity, which already outstrips demand, could force out many Chinese solar companies in coming years amid tumbling global prices
Aug 31, 2023 20:42 PM

Long Wait at Panama Canal Shows the Power of El Nino
A total of 135 ships were in line as of Tuesday, 45 higher than the waterway authority’s standard
Aug 31, 2023 17:11 PM

Baidu Opens AI-Powered ERNIE Bot to Public
Users can download the chatbot on app stores or on its website starting Thursday
Aug 31, 2023 04:15 AM

Beijing-Shanghai High Speed Railway Swings to Profit in First Half
Surging post-Covid travel demand drives 143% increase in revenue as passenger traffic nearly quadrupled from a year earlier
Aug 30, 2023 03:04 AM

R&F Properties Outlines Looming Debt Crisis
Though the developer’s first-half loss narrowed, the member of the ‘Five South China Tigers’ owes $6.6 billion due within a year and lacks the funds to pay up
Aug 29, 2023 19:54 PM

In Depth: China’s Offshore Wind Sector Gears Up for Life After Subsidies
Even as individual firms prepare to scrap for local government contracts, analysts say the sector will continue to ride the updraft
Aug 29, 2023 06:00 AM

Evergrande EV Unit Reports Vehicle Deliveries and Narrower Loss
First-half revenue jumps as automaker offloads money-losing, debt-laden real estate projects and delivers 760 of its flagship Hengchi 5 model
Aug 28, 2023 18:19 PM

AI Specialist SenseTime Is Laying Off More Workers, Sources Say
The software developer has been gradually cutting staff while slowing hiring in recent months, one former worker told Caixin
Aug 26, 2023 18:47 PM

China Further Standardizes Management of Electricity Markets Amid Trading Boom
The guidelines clarified the responsibilities of management committees, including studying articles of association for exchanges and researching trading rules
Aug 26, 2023 03:55 AM

Country Garden Signals Lack of Votes for $540.8 Million Bond Extension
Distressed Chinese developer delays voting deadline from Friday until Aug. 31 as plan to stretch out payments over three years faces stiff opposition
Aug 24, 2023 04:55 AM

Former Nio Electric Car Rival Singulato Goes Bust
Nine-year-old EV startup enters bankruptcy liquidation without delivering any vehicles
Aug 23, 2023 19:43 PM

In Depth: China’s Auto Exports Belie Roadblocks to Conquering Europe, U.S.
Chinese firms are buying foreign brands or investing in overseas assembly as a workaround to protectionism and growing competition
Aug 22, 2023 18:08 PM

U.S. Eases Export Restrictions on 27 Chinese Entities
The Commerce Department says end-use checks had been successfully conducted, ahead of Secretary Gina Raimondo’s visit to China later this month
Aug 22, 2023 05:05 AM

Cigarette Industry Crackdown Nets Another Top Executive
Xu Shanshui, controlling shareholder and chairman of Anhui Genuine New Materials, is detained for investigation on suspicion of bribery
Aug 21, 2023 18:53 PM

Ex-Goldman Head John Thornton Joins Lenovo Board
The U.S. businessman and China expert has become an independent non-executive director and a member of the company’s Nomination and Governance Committee
Aug 19, 2023 18:06 PM

Chinese Flying-Car Maker One Step Closer to Take Off for Commercial Use
EHang has completed all the necessary tests for obtaining a type certificate ‘soon’ for its flagship electric vertical takeoff and landing aircraft
Aug 18, 2023 04:39 AM

DJI Unveils First Cargo Delivery Drone in New Business Push
World’s biggest consumer drone maker unveils FlyCart 30, capable of transporting 30 kilos of goods 16 kilometers