2 h. ago US venture capital firm to unload stakes in 40 Chinese tech start

Shares of a few dozen China-based start-ups may be up for grabs as their investor, US venture-capital firm Eight Roads, plans to exit its Chinese technology holdings. The move, reported by Bloomberg on Tuesday, comes as geopolitical tensions and a sluggish Chinese economy prompt some global investors to retreat. Domestic and government-backed funds and financing products would increasingly drive start-up funding in the world’s second-largest economy, analysts said. Fidelity Ventures-backed Eight...

Politics

20 h. ago GoPro rival Insta360 eyes global expansion after strong Shanghai IPO

Insta360, the Chinese action camera maker challenging GoPro, surged 285 per cent in its trading debut on Shanghai’s Star Market after raising 1.9 billion yuan (US$264.5 million) in the city’s largest initial public offering (IPO) in 17 months. Max Richter, who co-founded the company with 34-year-old Chinese entrepreneur Liu Jingkang in 2015, said Insta360 is “committed to expanding [its] global presence and elevating brand influence to boost [its] market share worldwide”. He identified China,...

Politics

51 h. ago ‘Irresistible trend’: why Chinese firms are rushing to open factories in Hungary

When Agosto Bodo took a job at a Chinese law firm’s Budapest office last year, he found himself catapulted into the centre of a China-fuelled investment boom. Yingke Law Firm, a major player in Chinese corporate law, had opened the new office to serve a wave of Chinese companies looking to open factories in Hungary. And the business was quickly gaining momentum. “We helped our clients with sourcing labour, looking for offices – we provided the whole service to help them overcome the language and...

Politics

4 d. ago US retailers demand Chinese firms pay shipping costs as trade pressure grows

US retail giants are demanding that their Chinese suppliers split or even bear the full cost of shipping goods across the Pacific, as freight rates skyrocket amid the disruption caused by the trade war, sources at Chinese export firms told the Post. The move is the latest sign of the intense pressure America’s biggest retailers are putting on Chinese factories to absorb more of the additional costs created by the trade war, with the companies facing calls at home to “eat the tariffs”. Until...

Economics

5 d. ago Chinese Firm Pulls Press Release Announcing New Nvidia AI Chip

Chinese Firm Pulls Press Release Announcing New Nvidia AI Chip  Investor's Business Daily

Economics

5 d. ago China Renaissance’s investment in stablecoin issuer Circle pays off

China Renaissance, which has funded many leading Chinese technology firms, made another winning bet after shares of stablecoin issuer Circle Internet Group more than doubled on their debut in New York. The Chinese investment bank said in a filing to the Hong Kong stock exchange on Friday that it had invested in Circle, which was founded in 2013, in 2018 through its Huaxing New Economy Fund. The investment reflected its “strong confidence in the growth prospects of the digital asset industry”,...

Economics

6 d. ago Chinese app firm Newborn Town sets up in Hong Kong for AI, global push

Hong Kong-listed Chinese app company Newborn Town will open a global headquarters and set up an artificial intelligence (AI) research centre in Hong Kong as a pivotal step in its overseas expansion strategy. “The landing of the global headquarters in Hong Kong marks a new stage in the company’s globalisation strategy and an important milestone of our company’s development,” said chairman Liu Chunhe at an opening ceremony in Hong Kong on Thursday. Newborn Town said it would focus on developing AI...

Politics

6 d. ago 'Abide by market rules, stop politicising': Beijing blasts US over SEC crackdown on Chinese firms

'Abide by market rules, stop politicising': Beijing blasts US over SEC crackdown on Chinese firms  The Economic Times

Politics

6 d. ago Xiaomi founder stays on as honorary chairman at Chinese software firm

Lei Jun – the 55-year-old Chinese entrepreneur transforming Xiaomi into a technology conglomerate covering smartphones, electric vehicles (EVs) and chips – will retain his seat as “honorary chairman” at Beijing Kingsoft Office Software, suggesting that the founder remains committed to taking on multiple roles on the business front lines. In his honorary chairman role, Lei, the “actual controller” of Kingsoft Office, will provide guidance on technology innovation, management and corporate...

Politics

7 d. ago Chinese Firm Webus' Stock Jumps After Filing With SEC for $300M XRP Strategic Reserve

Chinese Firm Webus' Stock Jumps After Filing With SEC for $300M XRP Strategic Reserve  CoinDesk

Economics

8 d. ago Chinese Firms Brush Off US Tariff Risks With Domestic Confidence

Chinese Firms Brush Off US Tariff Risks With Domestic Confidence  Bloomberg.com

Economics

8 d. ago Chinese Firms Warn EU Procurement Curb Could Hurt Trade Ties

Chinese Firms Warn EU Procurement Curb Could Hurt Trade Ties  Bloomberg

Events

8 d. ago EU backs curbs on Chinese medical device firms in public tenders

EU backs curbs on Chinese medical device firms in public tenders  Reuters

Politics

9 d. ago EU backs curbs on Chinese medical device firms' bidding in public tenders

EU backs curbs on Chinese medical device firms' bidding in public tenders  Reuters

Politics

9 d. ago EU to curb China’s access to medical device market as trade tensions simmer

European Union member states voted on Monday to restrict access to the bloc’s vast procurement markets for Chinese medical device manufacturers in response to Beijing’s refusal to open its own tenders to EU firms. Chinese firms will face curbs on their access to EU tenders worth more than €5 million (US$5.2 million) in what marks the first use of the bloc’s international procurement instrument (IPI). The move comes after fruitless negotiations on market access with the Chinese government, and...

Events

9 d. ago China to be frozen out of big EU medtech tenders for five years

European Union member states voted on Monday to restrict access to the bloc’s vast procurement markets for Chinese medical device manufacturers in response to Beijing’s refusal to open its own tenders to EU firms. Chinese firms will be blocked from EU tenders worth more than €5 million (US$5.2 million) for a five-year period in what marks the first use of the bloc’s international procurement instrument (IPI). The move comes after fruitless negotiations on market access with the Chinese...

Politics

9 d. ago BTG Pactual eyes Hong Kong expansion as China and Brazil strengthen ties

Brazilian investment bank BTG Pactual is seeking to expand its operations in Asia, eyeing opportunities arising from the growing demand for data centres among Chinese artificial intelligence (AI) firms, as Beijing and Brasília strengthen their trade and investment ties amid tariff disputes with the US. Established in 1983, BTG is one of Brazil’s largest banks, with a presence across Latin America, the US, Europe and the Middle East. During an interview with the Post in Hong Kong on Saturday, BTG...

Politics

9 d. ago BTG Pactual eyes Hong Kong growth as China, Brazil strengthen ties

Brazilian investment bank BTG Pactual is seeking to expand its operations in Asia, eyeing opportunities arising from the growing demand for data centres among Chinese artificial intelligence (AI) firms, as Beijing and Brasília strengthen their trade and investment ties amid tariff disputes with the US. Established in 1983, BTG is one of Brazil’s largest banks, with a presence across Latin America, the US, Europe and the Middle East. During an interview with the Post in Hong Kong on Saturday, BTG...

Politics

9 d. ago ‘Trade shocks’ force China’s firms to invest more efficiently: researchers

Chinese firms tend to invest more efficiently when facing higher duties or import restrictions, according to a study that highlights an unexpected benefit of tariffs by analysing data from before the two trade wars with the United States. Published in the peer-reviewed Journal of Corporate Finance, the paper examined more than 2,700 listed firms in China, their financial and accounting data from 2003 to 2016, and the trade barriers imposed on the country during this period. The paper was...

Economics

1 week ago Unitree Robotics changes to joint stock limited company, fanning IPO speculation

China’s top humanoid robot start-up Unitree Robotics has converted into a company limited by shares, a move that has fanned speculation around its public listing plans, as Chinese robotics firms rapidly expand amid the country’s fervour for the artificial intelligence (AI)-enabled machines. Unitree has changed from a limited liability company into a joint stock limited company, an equivalent to a company limited by shares, according to records on Chinese corporate database Qichacha published on...

Politics