It would also mark the highest-value IPO since Snapchat parent Snap Inc. SNAP, +3.56% went public last March in a $3.4 billion deal, said Smith. Underwriters Goldman Sachs (Asia), Credit Suisse, Bank of America Merrill…
Monthly Archives For March 2018
China’s Communist Party seeks to control media messages
Under the plan announced Wednesday by the official Xinhua News Agency, China Radio International, China National Radio and China Central Television, along with its international broadcast arm, China Global Television Network, will be merged into…
China paper says Beijing should prepare for military action over Taiwan
A widely read Chinese state-run newspaper said on Thursday China should prepare for military action over self-ruled Taiwan, and pressure Washington over cooperation on North Korea, after the United States passed a law to boost…
China Mobile 2017 net profit up 5 percent on boost from 4G subscriber growth
“We are expecting 5G technology development to drive new business models across the spectrum,” it said in a statement. China Mobile announced a final dividend of HK$1.582 per share for the year ended December 2017.…
Chinese drone maker DJI seeking at least $500 million in pre-IPO funding: sources
HONG KONG (Reuters) – China’s SZ DJI Technology Co Ltd, the world’s largest maker of drones for consumers, is in talks with investors for at least $500 million in funding ahead of a planned stock…
OneSmart International Education Files Updated Terms For U.S. IPO
OneSmart International Education Group intends to raise $196 million in a U.S. IPO. The firm operates a growing K-12 offline education services business to affluent and mass-affluent demographics within China. A history of strong growth…
Beijing gives Baidu go-ahead to test self-driving cars as US reviews safety after Uber fatal crash
Beijing gave the long-awaited go-ahead to Baidu to conduct open-road tests for its autonomous vehicles, days after a self-driving Uber car failed to slow down and killed a 49-year-old woman in the US. Baidu, named…
China raises a key market interest rate, following Fed’s move
SHANGHAI (Reuters) – China gingerly raised a key short-term interest rate on Thursday following the U.S. Federal Reserve Bank’s move overnight, in a symbolic reminder that Beijing is keeping an eye on global market trends…
China names financial heavyweight Guo to head new banking, insurance regulator
BEIJING (Reuters) – Chinese financial heavyweight Guo Shuqing has been appointed head of the country’s newly merged regulator for the banking and insurance sectors, Financial News, the official newspaper of the central bank, said in…
China’s young consumers are snubbing foreign brands amid growing national pride, says Credit Suisse
China is seeing the emergence of a generation of consumers who are more likely to opt for home-made brands, spurred by a growing sense of national pride, according to a survey by Credit Suisse. The…
Beijing and Manila in talks on joint projects in South China Sea
Philippine Foreign Secretary Alan Peter Cayetano was in Beijing on Wednesday for talks on possible joint development projects in the South China Sea amid signs of an easing of tensions in the disputed waterway. Cayetano…
American Business Leaders In China Concerned About Trump’s Trade Actions
U.S. businesses in China have had their intellectual property stolen, technology ‘transferred’ and some have had data taken from them by China’s government. But many U.S. business leaders say the trade actions President Trump is…
Budget fashion brand H&M launches on Alibaba’s Tmall in China
SHANGHAI (Reuters) – H&M, the world’s second-biggest fashion retailer, launched its core brand on Alibaba’s giant online marketplace Tmall on Wednesday to try to keep up with competition in China. It is the first time…
