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

Sep 17, 2021 19:14 PM

Distillers in China’s ‘Baijiu’ Heartland Suffer Damage in Sichuan Earthquake
One of the worst hit producers lost more than 200 tons of liquor, about a fifth of its inventory
Sep 16, 2021 19:45 PM

State-Owned Chinese Coal Giants Pledge to Buy Green Power
A dozen producers vowed to participate in the new trading program that aims to support the country’s transition away from polluting fuels like coal
Sep 16, 2021 19:15 PM

GM’s China Venture Is Developing Its Own Microchips, Report Says
SAIC-GM-Wuling Automobile says it aims to improve the quality and cost effectiveness of its chips through a project it has been working on since 2018
Sep 16, 2021 16:20 PM

China’s August Crude Steel Output Drops 4.1% From Previous Month
The figure represents a year-on-year decline of 13.2%, showing that a national campaign to cut production is having an effect
Sep 16, 2021 06:56 AM

Caixin Explains: What’s at Stake in the Massive Unigroup Restructuring
Bidders for the $46 billion business with a prominent role in China’s chipmaking ambitions include SOEs from Guangdong, Beijing and Wuxi, plus Alibaba
Sep 16, 2021 03:37 AM

Huawei Launches Industrial Operating System for Coal Mines
HarmonyOS-based software replaces grab bag of Linux, Unix and Windows systems and promises greater efficiency and safety in mining
Sep 15, 2021 20:40 PM

Undeterred China Vaccine-Maker Reapplies for Hong Kong IPO After Rejection
AIM Vaccine tries again after first bid was knocked back in July as it seeks to raise capital amid a domestic race to develop mRNA Covid-19 vaccines
Sep 15, 2021 20:14 PM

China KFC Operator Warns Third-Quarter Profits May Be Slashed in Half on Delta Outbreak
Yum China says spread of the coronavirus variant and subsequent travel restrictions has ‘sharply reduced sales’
Sep 15, 2021 19:56 PM

Chinese Internet Firms Told to Tear Down ‘Walls’ That Block Links to Rivals
The practice of turning platforms into ‘walled gardens’ is common, with some of the biggest players also the biggest offenders
Sep 15, 2021 06:25 AM

Samsung Workers Protest Shutdown of Ningbo Shipyard
Closing of low-profit operation after 26 years takes place amid shift in Asian shipbuilding as South Korea and China pursue expansion strategies
Sep 15, 2021 05:41 AM

China to Form New China Power Equipment Group
State Council clears electrical-gear combination of Xidian, Pinggao and Baoguang Vacuum Electronic Apparatus as part of a long-running industry overhaul
Sep 14, 2021 21:00 PM

Meituan Offers Glimpse Into How Takeout Delivery Times Are Set
Internet giant describes how its algorithms work, promises to tweak them to ease pressure on drivers
Sep 14, 2021 20:40 PM

Battery Giant CATL Invests $2 Billion to Boost Lithium-Ion Product Output
New factory will be built in cooperation with the city of Yichun in mineral-rich Jiangxi province
Sep 14, 2021 15:53 PM

Tianqi Lithium Revives Plan to List in Hong Kong
The world’s top producer of the battery raw material has returned to the plan it abandoned three years ago after a drop in lithium prices sank its valuation
Sep 14, 2021 04:44 AM

Yunnan Tightens Aluminum Production Curbs in Green Push
Smelters ordered to slash output 30% the rest of this year to meet goals for cutting energy use and greenhouse gas emissions
Sep 13, 2021 20:45 PM

Bankrupt HNA Secures Strategic Investors for Airline, Airport Businesses
As part of court-approved restructuring, the conglomerate will bring in two state-backed companies
Sep 13, 2021 20:30 PM

Soho China’s Shares Plummet After Blackstone Abandons $3 Billion Takeover
The failed bid has fueled uncertainty about the prominent propery developer’s future
Sep 13, 2021 20:28 PM

Social Media Platforms Pledge to Push ‘Positive Content’ on Chinese Culture
Weibo and iQiyi among 14 online companies also urged to favor core socialist values over ‘unethical’ celebrities as China seeks to reshape showbiz industry and tamp down on fan culture
Sep 13, 2021 19:27 PM

China’s Monthly NEV Sales Surpass 320,000 for First Time
Growing by 182% in August, new-energy vehicles sales made up 17.8% of domestic auto sales, approaching the government’s 2025 target
Sep 13, 2021 06:47 AM

Cover Story: The Rapid Fall of China’s Most Famous Corporate Raider
Since the failed Vanke bid, Baoneng Investment Group is now $31 billion in debt after forays into cars and mobile phones fell short