“There’s still huge demand in the Russian market but that won’t necessarily be solely reliant on imports,” Xu said. “China’s auto exports to Russia will still be in high demand over next 2-3 years and…
BUSINESS
Alibaba stock slides after ex-CEO abruptly quits cloud unit ahead of IPO
Alibaba’s stock lost more than 4% in Hong Kong on Monday after ex-group CEO Daniel Zhang quit just two months after concentrating his focus on cloud computing, raising concern over the unit’s spin-off …
US Cosmetics Giant Estée Lauder Invests in Chinese Beauty Brand Codemint
Codemint is owned by Hangzhou Jianfa Meixue Technology, founded by internet celebrity Grace Chow, according to corporate information platform Tianyancha. Chow holds a direct stake in Jianfa Meixue of …
Former CEO of China’s Alibaba quits cloud business in surprise move during its leadership reshuffle
The former CEO of Alibaba has resigned as head of its cloud computing business in a surprise move as the Chinese e-commerce empire wraps up a leadership reshuffle.
China GDP: annual forecasts cut to below Beijing’s target due to weak exports, property crisis
China has officially forecast growth of ‘around 5 per cent’ this year, but with exports having fallen in each of the last four months and with an ongoing crisis in the property market, financial …
How booming Vietnam offers the US an alternative to China
President Joe Biden is in Vietnam for a visit intended to deepen economic ties between Washington and Hanoi as part of efforts to reduce America’s reliance on China.
China’s Alibaba sees shares tumble as outgoing CEO quits cloud business
China’s tech giant Alibaba has announced that its outgoing chief executive will also step down from its cloud business, sending the company’s shares tumbling. Alibaba shares on Monday fell by 3.5 …
China May Ban Clothes That Hurt People’s Feelings. People Are Outraged.
“China’s development and prosperity,” he wrote, “require an inclusive and relaxing social environment.” Li Yuan writes the New New World column, which focuses on the intersection of technology, …
China’s Ant Group Launches Blockchain Services Brand ‘Zan’ for Web3 Developers
Some Chinese tech giants are exploring blockchain Blockchain is the underlaying technology of cryptocurrencies Ant Group’s Zan will help Web3 developers with a range of services …
China’s Gotion To Build “Historic” $2 Billion EV Battery Plant In Illinois
Chinese EV battery maker Gotion has picked Illinois as the site of a new $2 billion EV lithium battery plant in the United States, the Midwestern state’s governor JB Pritzker announced with Gotion on Friday.
Death and debt in China: how a ‘half-baked’ bankruptcy law offers few individuals a fresh start
China’s southern metropolis of Shenzhen is the only mainland city where individuals can apply for bankruptcy, but it’s not easy, as authorities seem to frown on debt forgiveness.
Biden says China’s economic woes make Taiwan invasion less likely
President Joe Biden said that China’s economic challenges have taken a toll and make it less likely to consider an invasion of Taiwan to force its unification with the mainland.
Taiwan Envoy Sees ‘Alarming’ Signs in China’s Economic Slowdown
China’s economy is showing clear signs of a slowdown that will have an inevitable spillover to the region, according to Taiwan’s top emissary to the US.“There are some alarming indications and we are …