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

Dec 22, 2022 20:32 PM

Germans Will Soon Be Able to Access BioNTech Jab on Mainland, Ambassador Says
The shot will be available over the next few weeks as the two countries are still working out the ‘final details’ of the agreement, Berlin’s envoy to China says
Dec 22, 2022 19:36 PM

Silicon Wafer Prices Fall as China Solar Supply Glut Looms
The average prices of two key types of the solar panel component each dropped by 10% or more in the past week
Dec 22, 2022 05:15 AM

China Baowu Steel Officially Takes Over Sinosteel
World’s largest steelmaker absorbs debt-plagued mineral resources developer in restructuring orchestrated by state-owned assets commission
Dec 21, 2022 20:04 PM

In Depth: Strict Rules at Home Push Chinese Metaverse Entrepreneurs, Investors Overseas
The scramble to monetize the metaverse and web3 is in full swing, as a new phase of the internet based on cryptocurrency and blockchain technology takes shape
Dec 21, 2022 03:59 AM

Xiaomi to Slash 10% of Workforce Amid Declining Revenue
Chinese smartphone giant idles 3,500 as inflation and slowing economies depress global and domestic demand, leading to red ink
Dec 20, 2022 20:23 PM

China Policy Support for Property ‘Exceeds Expectations,’ Vanke Chief Says
Chairman Yu Liang tells shareholders he sees ‘positive signs’ in the industry, although Covid is still impacting sales in the short term
Dec 20, 2022 20:01 PM

China’s Parcel Deliveries Slow to a Crawl as Covid Hamstrings Labor Force
Couriers heading home ahead of the Lunar New Year holiday and a backlog of Double 12 deliveries are also slowing logistics
Dec 20, 2022 17:33 PM

‘Avatar’ Sequel Boosts Sluggish Chinese Box Office
‘Avatar: The Way of Water,’ the follow-up to the American sci-fi blockbuster, raked in $65 million after four days, as people headed back to theaters following the relaxation of Covid restrictions
Dec 19, 2022 21:09 PM

China’s State Drugmakers Scramble to Stock Pharmacy Shelves Amid Run on Covid Medicines
Sinopharm and China General Technology boost production, with deliveries running around the clock after the sudden reversal of ‘zero-Covid’
Dec 16, 2022 04:24 AM

Volkswagen to Build All-Electric Tavascan Car in China
German auto giant’s Cupra brand plans to export the vehicle made in Anhui province to global markets
Dec 15, 2022 19:17 PM

In Depth: How China Helped Build Indonesia’s High-Speed Rail
The Jakarta-Bandung link, a $7.36 billion Belt and Road project, overcame property disputes, construction hurdles, cost overruns and the pandemic
Dec 15, 2022 19:07 PM

JD.com’s Logistics Arm Struggles to Deliver Beijing Parcel Backlog Amid Covid Surge
Company joins others including STO Express and Alibaba-backed Cainiao to bulk up courier numbers in the capital
Dec 15, 2022 05:21 AM

Singapore Mulls Dumping 20% Stake in CK Hutchison’s Port Business
State-controlled port operator PSA International sees declining outlook for the assets amid shrinking global trade and stiffening competition
Dec 15, 2022 04:49 AM

Abbott to Exit Mainland Chinese Baby Formula Market by 2023
American health-care giant cites shrinking market share amid stiff competition but will expand other businesses including diagnostics, devices and pharmaceuticals
Dec 14, 2022 20:07 PM

Delayed Guangzhou Auto Show to Go On, Despite Exhibitor Pullouts
The car industry, seen as a pillar of the city’s economy, has been counting on the rescheduled event to stoke consumer confidence and help revive vehicle production as Covid spreads nationwide
Dec 14, 2022 05:01 AM

Longfor Gets $101 Million of Offshore Loans From Bank of China
Real estate developer becomes the first to tap into a measure intended to help cash-strapped property companies roll over foreign debt
Dec 10, 2022 18:53 PM

Douyin Accused of Foul Play Over World Cup 4K Streaming Rights
Court orders ByteDance’s popular short video app to remove ads promoting its 4K live streaming after a China Mobile subsidiary complained
Dec 09, 2022 20:50 PM

China Travel Demand Spikes on Latest Covid Easing Plan
Tourism firms’ stocks popped and online searches for air and train tickets surged, after Beijing announced it was lifting testing requirements for cross-regional travel
Dec 09, 2022 19:04 PM

Excavator Sales Rebound Offers Glimmer of Hope for China Recovery
Deliveries of the construction equipment, an important gauge of economic activity, rose 2.7% in November, breaking a 10-month losing streak
Dec 08, 2022 20:28 PM

British Businesses Prepare for Rising Covid Infections as China Scales Back Controls
An annual survey by the British Chamber of Commerce in China shows a pessimistic outlook, with Chair Julian MacCormac saying it’s too early to predict the impact of ‘zero-Covid’ relaxation efforts