HONG KONG (Reuters) – Chinese smartphone maker Xiaomi booked a first-quarter net loss of 7 billion yuan ($1.09 billion) ahead of its blockbuster initial public offering. That compares with a net loss of 43.89 billion…
Monthly Archives For June 2018
China’s Xiaomi posts $1 billion first quarter loss ahead of blockbuster IPO
HONG KONG (Reuters) – Chinese smartphone maker Xiaomi recorded a first-quarter net loss of 7 billion yuan ($1.09 billion) ahead of its blockbuster initial public offering, according to a filing. That compares with a net…
Chinese villages to get internet access by 2020
China had 1.08 billion 4G network users at the end of April, while fixed-broadband subscribers to the country’s three major telecom operators — China Telecom, China Unicom and China Mobile– reached 366 million. ( read…
Near-Collapse of ZTE May Be China’s Sputnik Moment
HONG KONG — Once derided as a technology backwater and copycat, China is justifiably proud of its technology boom. Its people zip around the country on high-speed trains. They can buy, and pay for, just…
Investors shrug off central bank’s monetary policy move
[Photo/China News Service] Bank stocks fall as PBOC’s quasi-easing on June 1 seen as being silent on rates The quasi-easing of China’s monetary policy on June 1 has not encouraged investors to raise their holdings…
Beijing’s tight grip on economy leaves tycoons on a tightrope
Like elsewhere in the world, mixing business with politics has pitfalls and even dangers. This is particularly so in China where, as the government’s stranglehold over the economy is still immense and the policymaking process…
North Korea seen looking to China, not U.S., for help in any economic transformation
As well as China, North Korea may also look to other economies where tight top-down control has been kept, including Vietnam or even the ‘chaebol’ business structures of South Korea, which could allow something closer…
China’s most important sector still has opportunity
China has seen a big shift in people moving from the countryside into the cities this century. Government intervention has helped keep the market on track. Consolidation provides opportunity. Despite long-running international concerns about China’s…
China plans to provide internet access to almost all of its poor villages in the next three years
China had 1.08 billion 4G network users at the end of April, while fixed-broadband subscribers to the country’s three major telecom operators, China Telecom, China Unicom, and China Mobile, reached 366 million. ( read original…
Why China has Canada spooked about the world’s plastic waste crisis
And now, six months after China shut its doors to accepting roughly half of the world’s plastic waste, bales of Canadian recyclables are being diverted to landfills or shipped to other plastic-choked regions of Asia…
China mobile phone shipments pick up in May
China’s mobile phone shipments in May reached 37.83 million, edging up 1.2 percent year-on-year, ending 14 months of declines, according to a report published Friday. Increasing 4G phone shipments were the main contributor to the…
China’s Xi calls out ‘selfish, short-sighted’ trade policies
QINGDAO, China (Reuters) – Chinese President Xi Jinping, whose country is locked in a high-stakes trade dispute with the United States, on Sunday said China rejects “selfish, shortsighted” trade policies, and called for building an…
China Oceanwide’s $2.7 Billion Takeover of Genworth Financial Passes U.S. Security Review
WASHINGTON—A U.S. national security panel approved a Chinese conglomerate’s $2.7 billion takeover of Richmond, Va.-based insurer Genworth GNW 2.42% Financial Inc., after the companies convinced authorities they would take extraordinary steps to secure … (…
