The ceremony was attended by high-ranking Taiwan officials and senior business executives, including Morris Chang, the former chairman of Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s biggest contract chip maker. China claims self-ruled ……
BUSINESS
British businessman Gerry Grimstone on China-UK economic ties
British businessman Gerry Grimstone gave an interview at the Young Icebreaker annual gathering of young U.K.-China business leaders in London, sponsored by the 48 Group, on June 5. Grimstone is the chairman of Standard Life…
Crypto’s 32-year-old billionaire mining king is mulling an IPO
any estimate of the Beijing-based company’s value — and its owners’ wealth — inevitably involves a lot of guesswork. But that could be about to change. An IPO would not only open Bitmain’s books to…
Amazon supplier under fire for poor China working conditions
The investigation by US-based China Labor Watch found a series of problems including inadequate worker training and overtime pay, excessive overtime hours beyond limits set by Chinese law, and verbal abuse of workers by management.…
Free Power From Freeways? China Is Testing Roads Paved With Solar Panels
JINAN, China — On a smoggy afternoon, huge log carriers and oil tankers thundered down a highway and hurtled around a curve at the bottom of a hill. Only a single, unreinforced guardrail stood between…
China’s CITIC to buy minority stake in Ivanhoe Mines for $723-million
On Monday, Ivanhoe announced it is selling 19.9 per cent of the company by issuing 196.6 million shares in a private placement to CITIC Metal, a subsidiary of CITIC Ltd., China’s largest conglomerate. The shares…
IPO Roundup: Seven companies to keep an eye on this week
Far Point Acquisition Corp (NYSE:FPACU) will be the first IPO of the week, pricing its shares on Tuesday … Puxin Ltd (NYSE:NEW) will price its shares at the end of the week. The Beijing-based company…
China’s CITIC to buy Ivanhoe stake for $723-million
A unit of Chinese state-run conglomerate CITIC Ltd will buy a near 20-per-cent stake in Canada’s Ivanhoe Mines for about $723-million, the companies said on Monday. Ivanhoe said it will use the proceeds to advance…
Xiaomi unveils big loss as it prepares to hawk IPO to investors
The company, led by billionaire co-founder Lei Jun, is said to be seeking about $10 billion in an IPO that could become the world’s … smartphones in the US and compete against Apple Inc. The…
Trap or treat? Funds to raise billions for tech IPOs in China
SHANGHAI (Reuters) – Asset managers began fundraising for six Chinese “unicorn” funds on Monday, offering retail investors a new investment channel but potentially straining tight market liquidity. The 300 billion yuan ($47 billion) they seek…
China’s Xiaomi books $1 billion quarterly loss ahead of blockbuster IPO
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…
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…
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…
