Alibaba-backed Best Inc said on Friday it would sell its express delivery business in China to J&T Express Co. Ltd. in a deal valued at about 6.8 billion yuan ($1.06 billion). Oct 29 (Reuters) -…
Tagged By business
Huobi closes crypto derivatives as part of wind-down for Chinese traders
Speaking at the Code Conference in Los Angeles in late September, Elon Musk, Tesla’s CEO, thinks that crypto is on the verge of eroding China’s Communist Party’s power. As a result, the government …
China’s import expo draws nearly 3,000 exhibitors
A truck loaded with the first batch of exhibits arrives at the north square of the National Exhibition and Convention Center (Shanghai), a main venue for the fourth China International Import Expo …
China’s top brokerage CITIC posts 46% third-quarter profit jump
China in 2018 adopted a U.S-style, registration-based IPO system on Shanghai’s Nasdaq-style STAR Market, and later in Shenzhen’s start-up board ChiNext, in a bold reform designed to give the …
China’s yuan closes near 2-week low as state banks buy dollars
“As the Thanksgiving and Christmas seasons are approaching in the fourth quarter, China’s export orders will remain strong, but they will also be subject to the fragile global supply chain,” China …
China expands coal production and imports to roll back coal prices
China’s state economic planner has said that it will use “all necessary means” to roll back record-high coal prices. China has been in the throes of an energy crisis, the result of dwindling …
Alibaba-Backed Huitongda May Delay $1 Billion Hong Kong IPO
Huitongda Network Co., an e-commerce platform that serves rural China, is considering delaying its planned Hong Kong initial public offering to next year, according to people familiar with the matter.
American Banks Have What They Want in China. Their Fate Is Still Out of Their Hands.
U.S. investment banks and asset managers can finally control their local subsidiaries in China. That spells huge opportunity—but also plenty of pitfalls.
BEST Inc. Agrees to Sell its Express Business in China
BEST Inc. (NYSE: BEST) (“BEST” or the “Company”), a leading integrated smart supply chain solutions and logistics services provider in China, today announced that it has agreed to sell its express …
Xinhua Silk Road: China’s iconic sedan brand Hongqi outshines at Financial Street Forum 2021
BEIJING, Oct. 29, 2021 /CNW/ — Hongqi, an iconic sedan brand under China’s leading automaker FAW Group, has made a sparkling appearance at annual Financial Street Forum 2021 held in Beijing as …
Chinese IPO Flops Pile Up in Worst Week Since 2012
Investors in China are faced with the highest number of stocks falling on their first trading day in over nine years this week, shaking a long-held faith in fat gains on debuts as regulators step…
Ant Group-backed Paytm says it’s ‘more than well-capitalized’ after raising its IPO size
That would bring the total IPO size to 183 billion rupees ($2.44 billion). The start-up is backed by a number of prominent investors like Japan’s SoftBank, China’s Ant Group and Warren Buffett’s …
China’s Heilongjiang 2021 corn output seen rising 19% -think tank
China’s top corn growing province of Heilongjiang is expected to produce 19% more of the grain in 2021, a government think tank analyst said on Friday. BEIJING, Oct 29 (Reuters) – China’s top corn …
