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

Oct 20, 2023 06:43 AM

Sunwoda Prepares for Share Sale of EV Battery Unit
Global top-10 battery maker hires Citic Securities to help with IPO application for Shenzhen’s ChiNext board
Oct 20, 2023 04:15 AM

Trina Solar to Build PV Manufacturing Base in UAE
Chinese solar panel giant signs accord with Middle Eastern country’s AD Ports Co., joining domestic rivals rushing into the region
Oct 19, 2023 20:19 PM

Four Things to Know About Tightened U.S. Rules Over Chip Exports to China
The revamped measures, intended to prevent workarounds of existing rules, cast an even longer shadow over the troubled global semiconductor sector
Oct 19, 2023 06:10 AM

China’s Changan Automobile to Build NEV Plant in Thailand
State-owned automaker agrees to invest $242 million in factory with plans to sell output domestically and in export markets
Oct 18, 2023 06:58 AM

Gemdale Plunges on Chairman’s Resignation and Debt Concerns
Ling Ke steps down after 25 years, citing health issues, intensifying investor concerns about the developer’s financial stability
Oct 18, 2023 05:30 AM

China’s Tsingshan to Invest $233 Million in Chile Lithium Plant
Chilean President Gabriel Boric unveils deal on visit to Beijing for Belt and Road Forum after China’s BYD started $290 million lithium project there
Oct 17, 2023 20:45 PM

Analysis: What It Will Take for Esports to Go Mainstream in China
Inclusion in the Asian Games in Hangzhou put competitive gaming on par with sports like soccer, and could lead to the elevation of standards in the industry, an expert tells Caixin
Oct 16, 2023 20:17 PM

Chart of the Day: China’s CATL Closes In on Top Overseas Competitor
The Fujian province-based company’s batteries accounted for 27.7% of installed capacity in markets outside the country in the first eight months of this year
Oct 14, 2023 18:35 PM

Sinopec Unit to File for Arbitration Against U.S. LNG Supplier, Source Says
China International United Petroleum & Chemicals seeks arbitration against Venture Global over what it claims is a breach of contract for postponing delivery of shipments
Oct 14, 2023 07:11 AM

Cash-Strapped Retailer Suning Gets Another Bailout
Citic Trust and Huarong agree to pony up $685 million over 10 years to help revive the once-highflying Chinese company
Oct 13, 2023 20:36 PM

In Depth: As China Sales Slump, Global Carmakers Tap Local Ventures for EV Catch-Up
Some doubt the partnerships — which foreign automakers were once forced to establish to access the China market — can level up from assembly to R&D
Oct 13, 2023 06:47 AM

EU Probe of Chinese Steel Will Disrupt Global Supply Chains, China Warns
Commerce Ministry blasts subsidies investigation that’s expected to be part of a U.S.-EU deal to end Trump-era tariffs on European steel
Oct 13, 2023 06:40 AM

Nio Joins Auto Industry Rush Into the Insurance Business
EV startup acquires and rebrands Huiding Insurance Broker, following similar forays by BYD, Li, XPeng and traditional carmakers
Oct 12, 2023 19:15 PM

In Depth: How Did Amethystum Become a Financial Black Hole?
Months after the one-time market darling got kicked off the STAR Market and authorities found fraud, unanswered questions remain
Oct 12, 2023 06:50 AM

India Detains Four on Alleged Links to Vivo Money Laundering Probe
Chinese smartphone maker is one of several tech companies caught in a crossfire amid rising competition between Beijing and New Delhi
Oct 11, 2023 18:34 PM

Shareholders of Imax’s Hong Kong-Listed China Unit Reject Buy-Out Bid
U.S.-Canadian-based parent had sought to take full control of the subsidiary for $124 million, but one minority investor said it ‘significantly undervalues’ the China operations
Oct 11, 2023 06:26 AM

XPeng Suspends Supply Chain Chief in Internal Graft Crackdown
Vice President Li Feng becomes focus of corruption probe along with other employees amid concerns about high costs and supply shortfalls
Oct 11, 2023 04:00 AM

Former Chief of China Tobacco Yunnan Charged With Taking Bribes
Ye Libin accepted a large amount of bribes in exchange for favors, according to prosecutors leading sweeping graft crackdown in the sector
Oct 10, 2023 21:10 PM

Hengrui Pharma Signs Licensing Deal to Sell Cancer Drug in India
The tie-up with local firm Dr. Reddy’s is the second overseas agreement signed by Hengrui for Pyrotinib as more Chinese drugmakers accelerate expansion into lucrative foreign markets
Oct 10, 2023 20:52 PM

Analysis: China to be Hardest Hit by Global Coal Mine Layoffs
The country’s coal hub Shanxi alone is projected to shed nearly a quarter of a million jobs by 2050, an industry report shows