China’s Shimao Group, a property developer has joined smaller peer Agile Group to sell its stake in the Guangzhou complex to China Overseas Land & Investment, a state-owned partner in a move aimed at slashing its debt. Late on Monday, Shimao,… Read More ›
In a statement the U.S. government said it would suspend 44 China-bound flights from the United States by four Chinese carriers in response to the Chinese government’s decision to suspend some U.S. carrier flights over COVID-19 concerns. The suspension of… Read More ›
In a statement U.S. President Joe Biden said, it was too early to make any commitments on lifting U.S. tariffs on Chinese goods, while USTR Katherine Tai said she was working on the issue. “I’d like to be able to be… Read More ›
According to Chinese commodity brokers, resumption of regular trade between Beijing and Pyongyang is expected to resume on Monday, after a North Korean train pulled into a Chinese border town on Sunday in the first such crossing since anti-coronavirus border… Read More ›
On Friday, Canon Inc said, it was weighing options to close down its factory in Zhuhai, southern China, which mainly makes compact digital cameras midst a shrinking market for such devices. Canon’s spokesperson declined to provide details of employee strength at… Read More ›
All is not well with China’s economy. Cash-strapped Chinese developers are scrambling to negotiate new terms with their bondholders to avoid defaults, with Yuzhou Group and the Shimao Group being the latest case in point of Chinese developers seeking extensions on their… Read More ›
In a report Caixin said, China’s Shimao Group Holdings has put on sale all of its real estate projects, including residential and commercial properties. The development marks the Chinese property developer accelerating asset disposals following cash shortages. Shimao, which defaulted… Read More ›
Following the cancellation of a trip to the United States and Australia due to rising COVID-19 cases, Japan and Australia are set to sign a treaty to beef up defence and security cooperation at a virtual summit on Thursday. Japanese… Read More ›
China Evergrande Group’s shares tumbled on Thursday after the crisis-hit real estate developer failed to pay offshore coupons due earlier this week. Evergrande, whose $19 billion in international bonds are in cross-default after missing a deadline to pay coupons earlier… Read More ›
In a statement China’s Geely Holding said, Zeekr, its premium electric mobility brand, will collaborate with Alphabet Inc’s self-driving unit Waymo to make electric vehicles for the latter, which will be deployed as fully autonomous ride-hailing vehicles across the United States…. Read More ›
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