In a development that marks the risks of doing business in China, where Chinese rulers through courts hold absolute power, Chinese regulators have imposed a sweeping restructuring on Jack Ma’s Ant Group, in a move aimed at curbing its valuation… Read More ›
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Chinese regulators impose exemplary fine on Jack Ma’s Alibaba Group Holdings
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 ›
This is war: polish doctor on COVID-19 infections
Midst media reports that Polish medical staff are taking oxygen and intravenous drips to boost their energy, the country’s health minister Adam Niedzielski said, many Polish doctors and nurses are just taking naps between shifts as they continue to fight… Read More ›
Short-seller Hindenburg Research takes aim at Ebang International Holdings Inc
With short-seller Hindenburg Research stating that it was going short on China’s Ebang International Holdings Inc, shares of the Chinese bitcoin mining machine producer slumped by nearly 20% in early trading. “Ebang claims to be a “leading bitcoin mining machine… Read More ›
More than 70 Hong Kong listed companies suspended from trading
According to stock exchange filings, share of more than 70 Hong Kong-listed companies have been suspended from trading on Thursday morning. Since the companies had not published their 2020 full year results as of March 31, 2021, under Hong Kong’s… Read More ›
China’s Volvo Cars eyeing potential IPO
On Wednesday, China’s Zhejiang Geely Holding Group said its Volvo Cars is exploring capital market options including a potential initial public offering. Earlier this year in February, Geely’s Hong Kong-listed unit Geely Automobile and Volvo Cars scrapped their full merger… Read More ›
China reneged on 1984 Sino-British Joint Declaration on Hong Kong: Britain’s Foreign Secretary Dominic Raab
China has broken the 1984 Joint Declaration after it enacted sweeping changes to Hong Kong’s electoral system, undermining the freedoms of people in the former British colony. “Today China enacted changes to Hong Kong’s electoral system which are a clear… Read More ›
Alibaba-backed Energy Monster’s US IPO caught in legal dispute
Alibaba and SoftBank-backed China’s biggest mobile device power bank startup Energy Monster has been caught in an ownership dispute which clouds its chances of a Nasdaq debut, already buffeted by new U.S. regulations to delist foreign companies that do not… Read More ›
China’s Great Wall Motor plans on launching new off-road vehicles: chairman
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 ›
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 ›