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

Feb 28, 2024 04:34 AM

Nio Collaborates with China Southern Power Grid on Virtual Power Plant
Agreement includes plans to build battery-swapping stations for EV drivers and promote the commercial application of distributed energy storages
Feb 27, 2024 20:35 PM

Charts of the Day: China’s Lithium Miners Cut Output as Demand Falls
Post-Lunar New Year holiday operating rates stood at 45.73%, versus 52.5% on the day before the annual break began
Feb 27, 2024 20:05 PM

Commentary: BYD Price Cut Bombshell Tipped to Change Auto Market Landscape
By slashing the prices on revamped versions of its flagship sedans, the Chinese automaker set off a chain reaction with competitors scrambling to match it with their own cuts
Feb 26, 2024 21:25 PM

Chinese Beverage Tycoon Zong Qinghou Dies at 79
Zong, founder and chairman of Wahaha, once China’s richest person, was known as the self-made man who bested the yogurt titan Danone
Feb 26, 2024 07:28 AM

Cover Story: Chinese Pharma Turns to Global Deals to Cure Capital Crunch
Sales of drug rights and M&A transactions help offset investment slump
Feb 24, 2024 18:51 PM

PDD’s Use of Non-Compete Clause Called Into Question
Former employees told Caixin that they had been sued hundreds of thousands of yuan by the Temu-owner after taking jobs at other firms, despite them holding junior positions and not possessing company secrets
Feb 24, 2024 19:27 PM

Chinese Basketball Association Backs New East Asia League
Former NBA star Yao Ming, who heads the national body, said supporting the new Rising East Asia League would facilitate the long-term growth of a large-scale regional competition
Feb 23, 2024 20:24 PM

Huawei Returns to Foldable Smartphone Market With New Compact Handset
The Pocket 2 is the first foldable released by the company since 2022 and reportedly runs on its cutting-edge Kirin 9000S chip
Feb 24, 2024 05:47 AM

Chinese EV Startup HiPhi’s Founder Tries to Save Company in Three Months
Ding Lei says he will use the three-month window to try and save the company. If I fail, at least I tried, he said
Feb 23, 2024 19:57 PM

Huawei Mulls Relaunch of EV to Boost Interest Amid Rollout Delays, Source Says
The newly updated Luxeed S7 developed with Chery Auto will feature different specs from its original release in November as buyers complain about missed deliveries in January
Feb 23, 2024 19:31 PM

Energy Insider: Work on Major Nuclear Plant Begins, Hydro Hub May Face Power Shortages Again
BYD boss expects EV growth to accelerate, China to improve waste recycling, wind power capacity grows 58%
Feb 23, 2024 04:03 AM

China’s State-Owned Developers Win $1 Billion Worth Land Auctions in Beijing
State-owned companies with access to low-cost financing buy two parcels of land for residential development in Beijing
Feb 22, 2024 20:56 PM

Lax Management, PR Blunders Led to EV-Maker HiPhi’s Undoing, Sources Say
The Chinese luxury electric car brand has halted production, dismissed contract workers and cut staff salaries
Feb 22, 2024 20:34 PM

Taobao Launches Livestreamer Sandbox in Fight for Market Share
The Alibaba shopping unit will provide celebrities, influencers and institutions with a host of services to help them speak to the masses in real time
Feb 21, 2024 21:05 PM

China’s Comac Wins Domestic Order for C919 Jets at Singapore Airshow
Tibet Airlines will purchase 50 high-altitude versions of the self-developed narrowbody aircraft and the ARJ21, while another buyer signed a letter of intent for six variants of the latter
Feb 21, 2024 19:53 PM

In Depth: Xiaohongshu’s Push to Make Users Open Their Wallets
The Chinese social media platform, which is mulling a Hong Kong IPO, has been struggling to get its users to buy things on the app
Feb 20, 2024 06:25 AM

EU Launches Anti-Subsidy Probe on CRRC Unit in Bulgarian Train Deal
Worst outcome of EU investigation could see locomotive unit blocked from $657 million electric train contract, warn legal experts
Feb 19, 2024 21:02 PM

Analysis: Property Slump, Weak Confidence Loom Over Stellar China Lunar New Year Travel Data
The boom is likely short-lived, as fundamental issues of weak consumer confidence and the struggling property market remain, analysts say
Feb 19, 2024 19:47 PM

BYD Unveils Plan to Boost Brand Image, Global Reach
The leading Chinese EV-maker will launch a series of ‘high-end luxury models’ to further expand in the premium car market
Feb 16, 2024 16:49 PM

Snowy Harbin Draws Millions During Lunar New Year Holiday
The capital of Heilongjiang province recorded more than 6 million visits during the first five days of the holiday, a year-on-year increase of 83%