Ant Group on Saturday announced a share repurchase plan that values the fintech giant at 567.1 billion yuan ($78.54 billion), down from $315 billion when it tried to list in 2020, in a move that…
Monthly Archives For July 2023
Outstanding loans of China’s consumer finance firms up 17.5 pct in 2022
Outstanding loans of China consumer finance companies stood at 8349 billion yuan about 1159 billion US dollars by the end of 2
POLL-China’s June new yuan loans seen rising further as Beijing shores up recovery
However, the expected figure would be lower than the 2.81 trillion yuan issued in the same month a year earlier, when touch COVID-19 measures were still in place. China’s economy rebounded faster than …
One Reason the U.S. Can’t Quit China? Chips.
Chipmakers are finding it increasingly hard to operate in China but say doing business in the country is still key to their survival.
China’s auto group retracts pledge to avoid ‘abnormal pricing’
The China Association of Auto Manufacturers (CAAM), citing antitrust law, on Saturday retracted a pledge to avoid “abnormal pricing” made two days earlier by 16 automakers, including Tesla. .
Can China’s indie film-makers find a way around the censors?
A censorship process has been in place in Chinese film since the 1930s, under the Nationalist government. With film creation in the hands of a few studios, it was easy for the government to monitor…
US-China cooperation in climate finance ‘critical’, says Yellen
BEIJING: It is “critical” for Washington and Beijing to keep working together on climate finance, US Treasury secretary Janet Yellen said Saturday, urging deeper cooperation in addressing the …
Yellen Urges China to Step Up Climate Finance Investments
Janet Yellen, the Treasury secretary, said China, the largest emitter of greenhouse gases, can have “greater impact” tackling climate change by working with other nations.
Keeping up pressure, China sends warships and fighter jets near Taiwan during Yellen’s Beijing visit
Taiwan’s Defense Ministry says China has sent 13 aircraft and 6 vessels to airspace and waters around Taiwan as of early Saturday.
China’s banks bear brunt of concerns around growth and debt
Chinese banks are facing increasing risks from rising non-performing loans (NPLs) and diminishing returns, making them a lightning rod for investors’ worries about the world’s second-largest economy.
Ant to Buy Back Shares at 70% Lower Valuation Than at IPO
China Ends Tech Crackdown With Fines on Tencent … With the regulatory clampdowns out of the way Ant can refocus on business growth and even pave way for reviving its IPO. Financial regulators fined Ant…
China’s ‘first warning shot’ on export controls causes 27% jump in price of gallium—a metal vital to tech industries
A piece of liquid gallium. Global gallium prices jumped 27% this week as buyers reacted to China’s move to control exports of the niche metal used in an array of high-tech industries. Beijing’s …
Elon Musk is the Only Foreign Entity to Sign China’s Letter to Stop EV Price Competition
A recent motor show in China called upon different car manufacturers present in the country to sign a joint letter, and it got the signature of Tesla CEO Elon Musk pledging his support to the…
