Wei Jianjun, the chairman of China’s Great Wall Motor said, the company plans on launching a new standalone brand for its off-road vehicles, as it seeks to pursue new segments in its home market. Great Wall, China’s top pick-up truck… Read More ›
China
Chinese banking regulator finds $42.6 million stolen from housing sector loan funds
On Wednesday, in a report China’s Xinhua news agency reported, the country’s banking regulator found $42.6 million (277 million yuan) was stolen from funds which were supposed to serve the housing market in the southern state of Guangdong. The news… Read More ›
China’s BYD positioning itself to tap growing EV battery market in Europe
Warren Buffett-backed Chinese electric vehicle (EV) maker BYD is hiring engineers for its first overseas battery plant in Europe, said the company in a statement on Wednesday. BYD is aiming to position itself as an EV parts supplier in Europe…. Read More ›
Pfizer Inc sells Chinese biosimilar assets to XuXi Biologics Inc
On Wednesday, in a statement Pfizer Inc said, it has decided to stop producing biosimilar products in China; it has also decided to sell one of its business unit in the eastern city of Hangzhou to WuXi Biologics Inc. “The… Read More ›
Baidu raises $3.08 billion from Hong Kong secondary listing
According to two sources with direct knowledge of the matter at hand, China’s Baidu Inc is set to raise $3.08 billion by pricing its shares at $HK252 each in its Hong Kong secondary listing. The New York listed Baidu is… Read More ›
Chinese clamps down on Alibaba, orders divestiture of media assets
According to a report from the Wall Street Journal, the Chinese government has ordered Alibaba Group Holding Ltd to divest all of its media assets. Discussions over the matter have been ongoing since the beginning of this year, with sources… Read More ›
Largest U.S. labor federation calls on Biden Administration to block import of solar products from Xinjiang, China
In a significant development, the leader of the AFL-CIO, the largest U.S. labor federation, has called on the Biden Administration and the U.S. Congress to not import solar products from China’s Xinjiang region over human rights violations. In letters to… Read More ›
Vanguard Group suspends plans to pursue license to run fund management company in China
Late on Monday, top mutual fund manager Vanguard Group said, it will no more pursue plans to obtain a license to run a fund management company in China. The discontinuation of the outsourcing augurs well for the United States since… Read More ›
Exit of high carbon industries likely to heighten systemic risks in financial markets: PBOC official
On Monday, in a statement state-owned Shanghai Securities News said citing a central bank official, with high-carbon industries pulling out of China is likely to lead to a possible re-evaluation of invested financial resources; it is also likely to strengthen… Read More ›
Chinese antitrust regulators gunning for Aliababa Group Holding Ltd
According to a report from the Wall Street Journal citing sources familiar with the matter, China’s antitrust regulators are mulling options to levy a record fine on Alibaba Group Holding Ltd over suspected anti-competitive behavior. The potential fine could exceed… Read More ›
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