4 d. ago Chinese smartphone maker Honor moves closer to onshore share listing

China’s fourth-largest smartphone maker Honor took an important step towards a domestic stock market debut on Thursday by filing documents with securities regulators. The company completed initial public offering (IPO) counselling recordation, the formal filing of pre-IPO guidance with the China Securities Regulatory Commission (CSRC). The step is required for companies seeking to list mainland shares, known as A shares. The Shenzhen-based company, a spin-off from smartphone and...

Politics

5 d. ago ‘Hotbed of opportunity’: Premier Li says China’s economy offers ‘certainty’

China will continue to be a land of opportunities and an engine of global growth and stability, even as the world faces rising geopolitical challenges and uncertainties, Chinese Premier Li Qiang said at the Asian Infrastructure Investment Bank’s (AIIB) Annual Meeting in Beijing. “China remains the country that contributes the greatest impetus to global economic growth, and the most significant source of certainty for world peace and development,” he said on Thursday. Li’s remarks came a day...

Politics

5 d. ago Chinese courier SF to raise US$752 million via Hong Kong shares, bonds

SF Holding, China’s largest courier, announced plans on Thursday to raise more than HK$5.9 billion (US$752 million) through a new share placement on the Hong Kong exchange and the issuance of convertible bonds. Proceeds from the HK$2.9505 billion equity placement and HK$2.95 billion in zero-coupon convertible bonds would be used for the firm’s international and cross-border logistics capabilities, research and development of advanced technologies and digital solutions, capital structure, and...

Economics

7 d. ago China’s yuan set to benefit as central banks report doubts about US dollar

Central banks are showing more interest in the Chinese yuan as doubts grow about the future of the US dollar, but this shift is not enough to challenge the greenback’s dominance in global reserves, according to a new survey. In its latest Global Public Investor poll released on Tuesday, the London-based Official Monetary and Financial Institutions Forum (OMFIF) said a net 14 per cent of reserve managers plan to increase their yuan exposure in the next two years, up sharply from the 2 per cent...

Politics

8 d. ago Chinese banks’ stock rally lights up social media as FOMO grips investors

Chinese banks’ stock rally lights up social media as FOMO grips investors  South China Morning Post

Economics

8 d. ago Chinese banks’ stock rally lights up social media as investors fear missing out

Chinese banks’ stock rally lights up social media as investors fear missing out  South China Morning Post

Economics

1 week ago Chinese EV maker Hozon enters bankruptcy proceedings, state media reports

Chinese EV maker Hozon enters bankruptcy proceedings, state media reports  Reuters

Politics

1 week ago Unitree Robotics now a unicorn with ByteDance, Alibaba, Tencent funding

Unitree Robotics, a leading player in China’s booming robotics industry, has completed a new round of financing, attracting investment from some of the country’s biggest tech companies amid excitement surrounding this sector. The Hangzhou-based company, founded by Wang Xingxing, was valued at over 10 billion yuan (US$1.3 billion), according to investors and local media reports. Notable backers in the latest funding round included ByteDance-affiliated Jinqiu Capital, Alibaba Group Holding and...

Politics

1 week ago Chinese Central Bank head pledges to expand international CBDC use — Report

Chinese Central Bank head pledges to expand international CBDC use — Report  Cointelegraph

Politics

1 week ago Chinese Central Bank pledges global expansion of digital yuan — Report

Chinese Central Bank pledges global expansion of digital yuan — Report  Cointelegraph

Politics

2 w. ago China’s Biotech Moment Ignites a 60% Stock Rally That Beats AI

China’s Biotech Moment Ignites a 60% Stock Rally That Beats AI  Bloomberg.com

Politics

2 w. ago Chinese solar firms bank on overseas expansion to survive amid US tariffs

Chinese solar and energy-storage companies will continue to press ahead with their overseas expansion with or without a long-term agreement on trade tariffs, as production abroad holds the key to their long-term survival, according to executives at China’s largest solar industry exhibition. Although the US and China reached a 90-day truce in their ongoing tariff war in May, solar panel exports from China and Southeast Asia to the US are still subject to tariffs of as much as 3,521 per cent, with...

Economics

3 w. ago Labubu becomes bait for China’s Ping An Bank to lure young customers

Hoping the world’s trendiest monster will scare up some new customers, China’s Ping An Bank is rewarding those who open new accounts with a Pop Mart Lababu doll amid fierce competition for young customers among Chinese retail banks. New clients who open a savings account and deposit more than 50,000 yuan (US$6,954) for at least three months could receive a blind box from the first or second series of the Chinese toy retailer’s popular collectibles, according to media reports. Customers who also...

Economics

3 w. ago Chinese stocks ‘not particularly cheap’ with weak earnings power, JPMorgan says

Chinese equities are not as cheap as they seem because the nation’s economic slowdown has weakened corporate earnings, making it imperative for investors to screen stocks and sectors carefully to pick winners, according to JPMorgan Asset Management. While they traded at 14 times historic earnings in line with the average valuation over the past decade, investors were getting less oomph from the current scenario because the return on equity was faltering due to weaker profitability trend, said...

Politics

3 w. ago Chinese man who killed mum, lover, caught after decades on the run with brother’s wife

A case in China involving a fugitive who killed his mother and girlfriend before absconding with his sister-in-law for 32 years has recently come to light, captivating mainland social media. The man, surnamed Li, was 29 when he used a kitchen knife to stab his mother and his 17-year-old girlfriend to death at their home in a village in Weiyuan county in southwestern China’s Sichuan province, on July 22, 1992. Li was arrested only in September last year. At the end of May, state broadcaster CCTV...

Events

3 w. 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