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

Feb 15, 2024 19:55 PM

Another Chinese Bubble Tea Chain Brews Hong Kong IPO
Shanghai-headquartered Auntea Jenny is seeking funds to expand amid the continuing consumer craze for the beverage
Feb 14, 2024 18:37 PM

China Luxury Market Still Lags Previous Heights Despite ‘Solid’ Gains in 2023
The sector grew 12% year-on-year, according to consultancy Bain & Co., but failed to recover to 2021 levels amid uncertainties in consumer confidence
Feb 13, 2024 16:00 PM

China’s Power Reforms: Putting the ‘Market’ Back In the Electricity Market
More electricity is being bought and sold at market rates, but China is still a long way off from normalizing spot trading
Feb 14, 2024 16:00 PM

China’s Power Reforms: Has the Moment Passed?
A weak economy and rising energy prices have some wondering whether fully removing price caps will drag on growth
Feb 12, 2024 16:00 PM

China’s Power Reforms: Climate Crises, Supply Shocks Energize Push for Unified Market
Coal shortages, dry dams and transmission failures have injected new urgency into efforts to price electricity fairly and get it where it is needed
Feb 10, 2024 03:21 AM

Vanke Offloads Shanghai Mall at Discount
Link Reit takes sole ownership of the Qibao Vanke Plaza in the latest divestiture by Vanke which remains under debt pressure
Feb 10, 2024 03:06 AM

Country Garden Services Drops $14.7 Million Purchase of Hopefluent
Share prices fall as both companies terminate agreement blaming capital market volatility and property market slump for plunging profits
Feb 09, 2024 17:46 PM

China Car Sales Post First Monthly Dip Since July
Reduced local government incentives and strong sales promotions the previous month dampened demand in January
Feb 08, 2024 20:06 PM

China’s Software Service Providers Bet on AI Amid Funding Chill
Embedding software tools with AI allows some firms to offer better standardized products and cut back on development costs, a potential last resort for startups trying to secure backing
Feb 08, 2024 06:06 AM

Embattled Developer R&F Offloads London Project for Debt Relief
R&F Properties to sell London development project for $13 cents to trim its growing debts by $800 million
Feb 07, 2024 20:48 PM

China’s Software Service Providers Cut Costs, Prices as Investors Pull Back
The country’s software as a service unicorns raised $69 million last year, the lowest amount since 2014, after years of investment have yet to create China’s answer to Salesforce
Feb 06, 2024 20:51 PM

China Approves Mercedes and BMW Charging Network Venture
Joint venture between two of the German automakers’ subsidiaries aims ‘to provide Chinese customers with premium charging services’
Feb 03, 2024 19:55 PM

China Was World’s Largest Auto Exporter in 2023 After NEVs Drove Up Shipments
Overtaking Japan to claim the top spot last year, Chinese car-makers are forecast to continue to boost overseas shipments, which could reach 5.5 million in 2024, industry group says
Feb 02, 2024 19:41 PM

China Monthly New Property Sales Plunge to Five-Year Low
The country’s 100 biggest developers took in $33 billion in January, down 34.2%, as the ailing sector continues to grapple with a liquidity crisis
Feb 02, 2024 19:40 PM

Charts of the Day: Thailand’s Four Favorite EV Models Are Chinese
BYD’s Atto 3 SUV and Dolphin hatchback take first and third in last year’s ranking of best sellers, while models from Hozon and Great Wall also made the cut
Feb 02, 2024 12:38 PM

Energy Insider: Beijing Spurs Development of ‘Future Energy,’ Clean Energy Drives China’s Growth
Coal remains the country’s ‘main power source,’ battery king branches into offshore wind, German drugmaker inks green energy deal with China Resources Power
Feb 02, 2024 06:47 AM

Syngenta Has ‘No Timeline’ for IPO But Deal Will Take Place, CEO Says
Uncertainty still surrounds $9 billion flotation as weak market conditions cause delays
Feb 02, 2024 06:34 AM

Chinese Startup Raises $943 Million to Fund Race with Starlink
Money raised will be used to develop and build a low-orbit satellite constellation that will provide broadband access to the internet
Feb 02, 2024 04:47 AM

BYD Signs Preliminary Agreement to Build First European Car Factory in Hungary
Chinese firm says EV plant will be up and running in three years although experts warn complex European compliance rules may delay this timetable
Feb 01, 2024 21:06 PM

U.S. Commerce Department Verifies More Chinese Trade Entities After Policy Shift
Bureau of Industry and Security has completed 130 site visits at Chinese companies since October 2022, after the introduction of a policy prompting faster end-use checks of foreign entities