In a statement the CEO of Uber Technologies Inc said, the company is looking to sell stakes its non-strategic stake in companies including in Beijing-based Didi Global Inc saying the lack of transparency makes the Chinese market tough. In 2016, the US… Read More ›
On Friday, ride-hailing giant Didi Global said, it will delist from the New York Stock Exchange and pursue a listing on the Hong Kong Stock Exchange following increased pressure from Chinese regulators. Earlier this year in July Didi had pushed ahead… Read More ›
Alibaba Group Holdings Ltd have been fined an exemplary $2.75 billion (18 billion yuan) by Chinese regulators for violating anti-monopoly rules and abusing its dominant market position; it is the highest antitrust fine ever to be imposed by Chinese regulators… Read More ›
In a significant development, Chinese Ant Group’s record $37 billion initial public offering has been suspended with Chinese regulators describing the move as reasonable and necessary. The suspension was just days before its dual debuts in Hong Kong and in… Read More ›
Foreign payment card companies face more hurdles in China: its central bank has clarified, it cannot officially process their application for operating in China. On Wednesday, China’s central bank has stated, Chinese regulations do not require foreign payment card firms… Read More ›
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