5 h. ago China steps up global aviation expansion as Comac bids for Laos carrier

The Commercial Aircraft Corporation of China (Comac) has reportedly bid to take a majority stake in the flag carrier of Laos, as the state-owned Chinese aviation firm continues its push to expand its market in Southeast Asia. The deal – which is pending approval by the Lao authorities – would see Comac help Lao Airlines overhaul its operations and stem its losses in exchange for the carrier agreeing to use the Chinese company’s passenger jets, Vientiane Times quoted Prime Minister Sonexay...

Politics

27 h. ago China’s Ant International to seek stablecoin licence in Hong Kong

Fintech firm Ant International, the global affiliate of Chinese tech giant Ant Group, said it would apply for a stablecoin issuer licence in Hong Kong once the new ordinance governing fiat-backed cryptocurrencies comes into effect in August. “We welcome the passage of the Stablecoins Bill and hope to contribute more to the city’s vision as a global hub for next-gen finance,” Ant International said in a statement on Thursday. “We plan to apply for the fiat-referenced stablecoins issuer’s...

Politics

37 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

55 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

3 d. 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 China’s Geely hits the brakes on new plant construction globally: Li Shufu

Geely Auto, the mainland’s second-largest carmaker, will not build new plants amid excess capacity worldwide, a move that is likely to ripple across the sector as most Chinese companies are finding it difficult to make profits. Chairman Li Shufu told the Chongqing Auto Show over the weekend that the company would avoid building excess capacity and instead focus on improving its technological capabilities to become a key player in the future of mobility. “The global automotive industry is mired...

Events

6 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

8 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

8 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

8 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

2 w. ago Beijing defends Chinese firm’s lease of Australia’s Darwin Port

Beijing defends Chinese firm’s lease of Australia’s Darwin Port  Anadolu Ajansı

Economics

2 w. ago China opposes baseless accusations, political manipulation: FM on alleged supplies to Russian military plants

China opposes baseless accusations, political manipulation: FM on alleged supplies to Russian military plants  Global Times

Events

2 w. ago Cerberus Eyes Chinese Firm’s Darwin Port, the Australian Says

Cerberus Eyes Chinese Firm’s Darwin Port, the Australian Says  Bloomberg.com

Politics

3 w. ago ‘What if AI had eyes’: meet Chinese firm Xreal, Google’s partner in AR glasses project

Project Aura provides a big boost to Xreal’s credentials in the smart glasses arena, while widening its reach in the international market.

Politics

3 w. ago Chinese biotech firm secures US$6 billion Pfizer deal for cancer drug

Pfizer will produce the drug, which targets lung and colorectal cancers, in the US and take a US$100 million stake in China’s 3SBio.

Economics

3 w. ago Chinese biotech firm secures Pfizer deal despite trade tensions

Chinese drug maker 3SBio has licensed its new cancer drug to US pharmaceutical giant Pfizer in the largest deal ever for China’s biotech industry, underscoring the strong commercial Sino-US ties despite geopolitical headwinds. Based in Shenyang, capital of northeastern Liaoning province, 3SBio will receive a US$1.25 billion upfront payment for licensing its cancer drug SSGJ-707 exclusively to Pfizer, which will manufacture and commercialise the drug outside mainland China, the companies...

Economics

3 w. ago Chinese firm launches ‘unhackable’ quantum cryptography system

China Telecom says its network has proved its worth with a 1,000km quantum-encrypted phone call.

Technology

4 w. ago Chinese defence firm strikes arms deal with Nigeria, deepening ties with West Africa

Chinese ammunition company to produce ammunition, upgrade military hardware, service battle tanks and train defence personnel for Nigeria.

Economics

4 w. ago Chinese defence firm strikes arms deal with Nigeria, deepening ties with Africa

Chinese defence firm strikes arms deal with Nigeria, deepening ties with Africa  South China Morning Post

Economics

4 w. ago Nissan says it could share global plants with Chinese state firm Dongfeng

Nissan says it could share global plants with Chinese state firm Dongfeng  BBC

Economics