Baidu has called off a $3.6 billion deal to buy JOYY’s video-based entertainment live-streaming business in China saying certain conditions were yet to be fully satisfied.
BUSINESS
China could see restored economic confidence in 2024 if Beijing makes the right moves on reform
The confusion and fear, along with the proliferating attitude of ‘lying flat’ among certain Chinese social groups, is a product of damaged confidence The word ‘reform’ should be read as …
China Auto Giant BYD Sells More Electric Vehicles Than Ever
Sales by BYD, the country’s dominant automaker, topped 3 million last year, including 1.6 million fully battery-powered cars in a sign of China’s rapid growth in EVs.
Crypto services firm linked to Huobi sees losses expand 40% with FTX funds still out of reach
Hong Kong-based Sinohope, formerly Huobi Technology, saw losses expand 40 per cent in the first nine months of 2023, blaming plummeting digital asset prices.
Xi Jinping rings in 2024 with rare admission that China’s economy is in trouble
China’s businesses are struggling and job seekers have trouble finding work, President Xi Jinping acknowledged during his Sunday New Year’s Eve speech.
China’s manufacturing contraction worsens in December as demand weakens
A survey of factory managers in China shows manufacturing contracted in December in the latest sign the world’s second-largest economy remains sluggish.
US Overtakes China as South Korea’s Top Export Market
South Korean exports to the US exceeded shipments to China for the first time in two decades last month, in a sign of shifting ties amid global tensions over economic security and tech supply …
U.S. overtakes China as top destination for Korea’s exports in Dec.
Korea’s exports to the US surpassed those to China in 2023. Total exports fell 7.4 percent due to chip performance and global economic uncertainties, while solid automobile exports and semiconductor …
China Looks to Ramp up ‘Cross-border’ Digital Yuan Spending
Last week, the Bank of China’s Dongguan Branch unveiled the country’s first automated digital yuan wallet-opening machine for overseas passport holders. The PBoC also seems to be readying a move that …
U.S. IPO market started to recover in 2023, but global market fell further
U.S. initial public offerings in 2023 recovered moderately from 2022, but remained muted as the market was constrained by rate hikes, bank failures, and geopolitical turmoil. Some 107 IPOs launched …
Countries around the world are passing crypto laws — but the U.S. is the top cop out there
In a year that saw crypto giant Binance hit with a $4 billion settlement and high-profile SEC lawsuits, regulators overseas have been busy pursuing new laws.
Best of 2023: Chinese investors scrambling to sell overseas properties tops most-read China economy stories
A report on Chinese investors unloading their overseas properties amid shaky economic conditions garnered the most views China’s dwindling exports, durian, shipping and canals, the US-China tech war …
Move Over Japan, China Poised To Be World’s Top Car Exporter
China is close to overtaking Japan for selling cars outside its borders thanks to strong sales in Russia and Mexico …
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