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

Feb 03, 2023 20:53 PM

China May Scrap Limit on Municipal Land Sales to Boost Fiscal Revenue, Sources Say
Notice sent to local governments in December failed to mention the annual auction cap on land parcel sales, indicating it might no longer be in effect
Feb 03, 2023 18:41 PM

China’s EV Market Downshifts on Scaled-Back Incentives
Retail sales of electric and hybrid vehicles over the first 27 days of January plunged 43% to 304,000, down 1% from a year earlier, industry data show
Feb 03, 2023 05:53 AM

China’s January Auto Sales Plunge 45%
End of government subsidies in December and week-long Lunar New Year holiday drag on sales
Feb 03, 2023 05:47 AM

Zijin Completes $360 Million Suriname Gold Mine Purchase
State-backed gold and copper mining giant expands global reach with acquisition of one of South America’s largest gold reserves
Feb 02, 2023 05:18 AM

BHP Eyes Broader Partnerships in China as Demand Picks Up
CEO Mike Henry outlines the Australian mining giant’s strategies for China and the green energy transition in an interview with Caixin
Feb 01, 2023 19:51 PM

Sany Heavy, Zoomlion Warn of Tumbling Profits on Covid-Hit Economy
China’s top construction-machinery makers estimate earnings may have dropped more than 60% last year
Feb 01, 2023 19:05 PM

China’s New Home Sales Get Off to a Weak Start in 2023
The 100 largest Chinese developers sold $52.5 billion worth of new properties in January, down 32.5% from a year earlier
Feb 01, 2023 07:29 AM

In Depth: A Metal Tycoon’s Liquidity Woes Disrupt China’s Copper Trade
Bankruptcy restructuring of He Jinbi’s Covid-crippled Maike Metal International threatens a third of China’s copper imports
Jan 31, 2023 04:57 AM

JD.com Closes E-Commerce Businesses in Indonesia and Thailand
Chinese internet giant refocuses on supply-chain management and warehousing as Southeast Asia market grows hotly competitive
Jan 31, 2023 04:36 AM

Novartis Eyes Market Potential Outside Biggest Chinese Cities
Swiss drug giant focuses on tier two and three cities for future growth, Chief Commercial Officer Marie-France Tschudin tells Caixin
Jan 30, 2023 20:41 PM

Losses Blow Out at China’s Airlines as Passengers Dip to 12-Year Low
Total industry losses in 2022 were more than the previous two years combined as Covid restrictions shut down international travel
Jan 30, 2023 16:01 PM

iFlytek Jumps by Daily Limit as AI Arouses Investor Interest
The tech company stock rises 10% despite warning its 2022 profit fell by an estimated 60% to 70%
Jan 27, 2023 20:48 PM

China’s Lunar New Year Revelers Spend Big on Travel, Leisure
Bookings for domestic tourist hotspots surged more than threefold, but Covid’s years-long impact on household income curtailed spending on cars and property
Jan 26, 2023 20:25 PM

China Solar Silicon Producers Forecast Soaring 2022 Profits
Tongwei and Xinjiang Daqo New Energy predict a more than threefold jump in earnings as strong demand for panels fuels higher prices
Jan 26, 2023 20:19 PM

China’s Box Office Springs Back During Lunar New Year Holiday
Cinemas nationwide took in more than $850 million during the first six days of the public holiday, industry data suggest
Jan 24, 2023 18:03 PM

Blizzard Games Go Offline in China as Deal With NetEase Ends
Players of titles including World of Warcraft, Hearthstone and Overwatch can apply for refunds of certain in-game purchases starting Feb. 1
Jan 21, 2023 03:15 AM

Taiwan Fines Foxconn $329,000 for Unauthorized Unigroup Investment
China-traded unit of Foxconn acquired 9.8% of Unigroup for $772 million in July but dumped it in response to opposition from the Taiwan government
Jan 20, 2023 20:48 PM

China Restaurants See Diners Return For Lunar New Year, Meituan Data Shows
Online searches for dining in on the eve of the holiday doubled from last year, with food delivery inquiries experiencing a fourfold jump
Jan 20, 2023 17:06 PM

Ex-Manager of China’s Semiconductor ‘Big Fund’ Handed Over to Prosecutors
Lu Jun, who headed the firm in charge of the country’s biggest state-run chip investment vehicle, is suspected of taking bribes, embezzling public funds and abusing his position
Jan 20, 2023 02:50 AM

China’s Homegrown Antiviral Covid Pill Included in National Subsidy Program
Genuine Biotech’s Azvudine treatment wins approval substantially undercutting Pfizer’s price for Paxlovid