The IPO values the Beijing-based, Cayman-domiciled company at $54.3 billion – or $70.3 billion after a 15 percent “greenshoe” or over-allotment option which can be sold if there is demand.
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China Issues Warning to its Citizens in Angola Involved in Crypto Mining
China’s blanket ban on crypto mining, followed a mass exodus of miners to various African nations including Angola.
The Chinese site that rewired online shopping
When Pinduoduo, the Chinese discount shopping app, debuted nearly a decade ago, tech giants Alibaba and JD.com dominated China’s ecommerce business.
Hong Kong stocks soar after China’s market regulator pledges support for city’s IPOs, connect schemes
Hong Kong stocks extended gains amid expectations the latest measures announced by Chinese authorities would broaden the investor base …
Analysis-Souring China dreams force Western financial firms to cut costs
Just a few years ago, lucrative business prospects in China on the back of a booming economy led to a scramble among Western financial firms, from investment banking to asset management, to expand …
Chinese brand confirms EV major breakthrough
Chinese carmakers are on the cusp of something big. Nio is the latest car brand in the past few weeks to detail its future battery technology that can deliver a driving range in excess of…
Hong Kong bankers face more job cuts on China slowdown, high pay
The pay for senior bankers in Hong Kong is 40% to 70% higher than what their Singapore peers receive. Read more at straitstimes.com.
People in China are so spooked about the economy that even the weak yuan isn’t stopping them from buying more gold
China’s central bank has been on a buying spree for 17 straight months as it diversifies its holdings away from the US dollar.
China’s strong iron ore imports diverge from weak steel output: Russell
China’s first quarter imports of iron ore and its domestic production of the steel raw material both rose strongly, but output of crude steel fell.
Volkswagen to Face Investors Skeptical of China Turnaround Plan
After being leapfrogged by China’s BYD Co. as the nation’s top carmaker, Volkswagen said it’ll take until 2026 to start winning back market share. That prognosis is casting a shadow over a string of key…
China stifles its own debate
Former Premier Zhu Rongji conceived of the CDF as a forum for debate and exchange between senior Chinese leaders and foreign academics, think-tank experts, and business leaders
‘Reform and opening up are not dead’, but today’s China ‘looks risky’: veteran observer David Lampton
China watcher since the times of Deng Xiaoping says current tightness of political system is likely to continue for the foreseeable future ‘No government in its right mind’ would want China’s collapse,
Weekly news roundup: Foreign suppliers concerned about China’s chip equipment industry scaling through import substitution
Weekly news roundup: Foreign suppliers concerned about China’s chip equipment industry scaling through import substitution Weekly news roundup: JCET has offered advanced packaging services for chips …
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