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

Nov 23, 2022 05:52 AM

China Proposes Tougher Restrictions on Unfair Digital Competition
Platforms like Alibaba, Tencent and JD.com would face steep penalties under revised law barring ‘picking sides,’ price manipulation and ‘walled gardens’
Nov 22, 2022 21:07 PM

In Depth: China’s Struggle for Data Security
Organizations from hospitals to police departments are accumulating vast amounts of personal information, but these huge stores are often poorly guarded, making them honey pots for hackers
Nov 22, 2022 20:48 PM

China’s Top Nickel Trader Mines for $600 Million in Hong Kong IPO
Lygend Resources & Technology plans to use the new capital to expand its Indonesia-based operations
Nov 22, 2022 05:59 AM

Exclusive: STX Dalian Shipyard Resumes Operation After Hengli Takeover
Idled since 2015, shipbuilding site emerges from bankruptcy as conglomerate Hengli moves to expand its shipping fleet
Nov 21, 2022 20:45 PM

Pony.ai Turns to Assisted Driving as Fully Autonomous Tech Hits Barriers
The startup seeks new revenue streams as its core business faces safety and cost roadblocks
Nov 19, 2022 17:24 PM

Flights to China Still Lag Demand Despite Easing of Some Covid Restrictions, Sources Say
Tickets from hubs like Singapore and Bangkok remain hard to get and expensive, dashing hopes of a quick resumption of inbound travel
Nov 18, 2022 21:09 PM

Caixin Summit: Energy Expert Pours Cold Water on Hydrogen Hopes
Equipment powered by hydrogen will inevitably be costlier to run than that which directly uses electricity, Zhou Dadi tells forum
Nov 17, 2022 19:42 PM

Amid Eye-Watering Lithium Prices, Battery Chief Warns of Overcapacity
Eve Energy Chairman Liu Jincheng says the market could begin to suffer from excess production as soon as next year
Nov 17, 2022 04:03 AM

Exclusive: Upstart SPS Shipyard Lands $580 Million Order for 14 Ships
Founder Luan Xiaoming plans to revive shipyard abandoned by bankrupt Rongsheng Heavy Industries, where he was a top executive
Nov 16, 2022 20:05 PM

China Eases Some Restrictions on Travel Agencies’ Cross-Province Services
The tourism ministry abolished the ‘circuit breaker’ system that barred cross-region tours to a destination where any county or district had areas designated ‘middle-risk’ or ‘high-risk’ for Covid
Nov 16, 2022 19:59 PM

Discounted Booze Pits JD.com Against One of China’s Largest Liquor-Makers
Sichuan-based Luzhou Laojiao accused the e-commerce heavyweight of undermining its pricing power for selling one of its top-shelf brands at a discount
Nov 16, 2022 17:11 PM

BYD Parks Chip Unit IPO
The Chinese carmaker says it had to postpone the planned listing because of how an investment in the subsidiary will affect its balance sheet
Nov 16, 2022 05:43 AM

Embattled Online Grocery Missfresh Faces Debt Claims in 1,400 Lawsuits
Former employers and suppliers demand $115 million, and the company has only 55 employees left, according to belated 2021 annual report
Nov 16, 2022 04:07 AM

China’s SOEs Grew Almost Twice as Fast as Economy in 2021
Government turns to state-owned enterprises as economic engine of last resort in the face of pandemic pressures
Nov 15, 2022 19:59 PM

Food and Drink Fair Fizzles as Covid-19 Keeps Crowds Away
Many merchants were delayed or restricted from traveling to Chengdu for the largest exhibition on the food and beverage industry’s calendar
Nov 15, 2022 06:04 AM

China’s Top Rare Earth Mining Company and Top Refiner Fight Over Prices
Amid soaring demand, Baotou Steel Union wants to jack up prices to processor Northern Rare Earth, but the buyer’s shareholders nixed a deal twice
Nov 14, 2022 20:19 PM

Hong Kong Crypto Firm Says Deposits at Risk After FTX Meltdown
New Huo Tech has around $18 million of digital currency assets deposited with the embattled crypto exchange
Nov 14, 2022 05:07 AM

Cover Story: Will Europe Pour More Money Into China?
As dramatic geopolitical changes alter the calculus, foreign investment from Europe more than doubles this year after three years of decline
Nov 12, 2022 19:15 PM

Fosun Chairman Defends Group’s Solvency
Billionaire Guo Guangchang says the sprawling conglomerate has 270 billion yuan in total assets versus 100 billion yuan in liabilities at the group level
Nov 12, 2022 05:17 AM

Lithium Price Climbs to Record on Tight Supply
EV battery makers rush to lock in supply ahead of winter production slowdown, driving lithium carbonate price to $83,700 a ton