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

Dec 08, 2022 19:46 PM

Two Provinces Look to Drum Up Business Overseas as Exports Slump
With China now easing its strict Covid controls, Zhejiang and Fujian are arranging for local companies to send staff abroad to begin reforging connections
Dec 07, 2022 20:24 PM

Logistics Begins Slow Recovery as China Eases Covid Controls
Service providers are operating far below capacity amid disruptions at thousands of delivery terminals and distribution centers across China
Dec 06, 2022 20:29 PM

China Road Freight Falls for Third Straight Week as Covid Curbs Linger
Conversely, international flights jumped 36.7% after the mechanism that suspended routes with infections was terminated
Dec 06, 2022 04:09 AM

Foxconn’s Sales Plunge Amid Zhengzhou iPhone Factory Disruption
November revenue drops nearly 30% from October as workers flee Covid outbreak, forcing the plant to jack up wages and offer bounties to lure people back
Dec 03, 2022 04:59 AM

Tsingshan Expands Investment in Zimbabwe
Chinese stainless steel and nickel giant agrees to add lithium and cement processing while increasing capacity for coke and stainless steel
Dec 03, 2022 04:39 AM

Reports of the Death of Hui Ka Yan May Have Been Greatly Exaggerated
Evergrande insiders and external sources deny online rumors that the developer’s billionaire founder and chairman committed suicide
Dec 02, 2022 21:41 PM

In Depth: China Households, Businesses Take Shine to Rooftop Photovoltaics
Policy support and market demand make ‘distributed solar’ an increasingly attractive, reliable source of power
Dec 02, 2022 21:28 PM

China’s Housing Sales Could Rebound Next Year on Easing Covid Measures, Analysts Say
Developers will likely see sales start to grow again in the second half as some cities shake off the pandemic
Dec 02, 2022 04:23 AM

Sunac China Gets $1.15 Billion Cash Injection for Shanghai Project
State-owned Huarong and Citic take nearly 90% stake in Sunac unit that owns the incomplete Dongjiadu development
Dec 02, 2022 04:05 AM

Fosun Pharma Pours $220 Million Into France’s Cenexi
Acquisition of contract development and manufacturing organization and shareholder loan will expand the Chinese drugmaker’s footprint in Europe
Dec 01, 2022 20:34 PM

Chinese Firms Talk Up Sodium Battery as Alternative for EVs
Companies including battery giant CATL are accelerating research and production of sodium-ion products as lithium prices soar
Dec 01, 2022 04:49 AM

Auto Dealers Face Mounting Inventories as Sales Slow
November stocks of unsold vehicles reach the second-highest level this year as Covid lockdowns stymie business
Nov 30, 2022 20:53 PM

Job Hunting App Operator’s Earnings Fall Despite End to National Security Probe
Nasdaq-listed Kanzhun saw net profit slide 26% after the cybersecurity watchdog wrapped up a nearly one-year investigation in June
Nov 30, 2022 20:46 PM

Debt-Plagued Sunac Predicts Swing From Profit to Loss
Developer blames reversal of fortunes on Covid resurgence and slumping property market
Nov 30, 2022 20:14 PM

Developer Shimao Plans Private Share Sale as Regulators Ease Off
The debt-ridden Chinese developer says the placement will not exceed 30% of its current share capital
Nov 30, 2022 03:34 AM

Shenzhen Nucleus Gene Lab Found to Report False Covid Test Results
Lanzhou health authorities vow punishment for uploading negative results for patients who were positive as testing industry comes under scrutiny
Nov 29, 2022 19:17 PM

Kweichow Moutai to Splash $3.8 Billion in First-Ever Special Cash Dividend
China’s liquor giant said the first bonus to shareholders since it went public in 2001 is to ‘boost market confidence’
Nov 28, 2022 20:36 PM

Covid Lockdowns Set to Snap China’s Car Sales Winning Streak
Deliveries to auto dealerships fell 8% in the first 20 days of November with disruptions to logistics networks also weighing
Nov 25, 2022 20:31 PM

Foreign Investors Wary of China Developers Despite More Support, Analysts Say
JPMorgan says government assistance is aimed at checking contagion risks in the battered property sector rather than providing stimulus
Nov 24, 2022 19:41 PM

Carmaker BYD to Hike Prices as Cost Pressure Mounts
Announcement comes as China is set to end subsidies for purchases of EVs and hybrid vehicles in 2023