Alibaba shares slide five per cent as earnings fall short of forecasts November 18, 2021 Alibaba shares tumbled five per cent after the company’s third quarter financials disappointed investors. In results released today, Chinese tech giant Alibaba revealed that revenue for the three months to October 2021 was $31.1bn (£23bn), up by 29 per cent compared to a year prior, but a far cry from analyst predictions of $32.1bn Net [...]
China mulls cybersecurity review for companies seeking Hong Kong IPO November 14, 2021 China has ramped up its oversight of mainland companies holding data that seek a listing in Hong Kong with a proposed new law mandating a cybersecurity review. Under the the new draft regulation, published by China’s cyberspace regulator today, officials would impose a cybersecurity review on such companies if a listing is deemed to have [...]
China exports surge despite port disruptions at regional lockdowns November 8, 2021 Asia markets have got the week off to a quiet start this week, with the latest China trade data for October giving a mixed insight into the world’s second biggest economy. The last couple of months have proved to be “fairly resilient” ones for China trade, despite disruption at Chinese ports, and the various lockdown restrictions [...]
China opposes U.S. block of China Telecom November 3, 2021 China “resolutely opposes” Washington’s revocation of China Telecom licence to operate in the United States, the information ministry said, urging a reversal of the move. “This is an unreasonable suppression of Chinese enterprises by abuse of state power and a serious breach of international economic and trade rules,” the Chinese regulator added. The decision made by [...]
Yahoo exits China due to challenging business environment November 2, 2021 Yahoo said it had stopped allowing its services to be accessible from mainland China as of 1st November "in recognition of the increasingly challenging business and legal environment."
China’s small cities barred from reaching for the stars with sky scraping vanity projects October 28, 2021 China has put limits on smaller cities, restricting their ability to build “super high-rise buildings”, for fear of indulging in too many vanity projects. The country, home to the largest number of tall buildings in the world, has already banned buildings taller than 500 metres – which joins another ban on “ugly architecture” from earlier [...]
Ericsson to make further reductions in China after Q3 results October 20, 2021 The Swedish telecommunications company plans to reduce its operations in China after suffering a fall in sales post Huawei ban, as well as ongoing supply chain disruptions.
‘No Sino-phobes’: UK will not ‘pitchfork’ business from China despite Hong Kong and human rights October 19, 2021 Boris Johnson has told the Chinese business community the UK has no intention to “pitchfork away” investment from China despite ongoing differences with Beijing over human rights and Hong Kong. Ahead of the Global Investment Summit in London, later today, the Prime Minister said China would continue to play a “gigantic part” in UK economic [...]
Microsoft to shut down local version of LinkedIn in China October 14, 2021 Microsoft will shut down the version of its jobs social media platform LinkedIn operating in China. The exit comes nearly seven years after LinkedIn’s launch in the country, with Microsoft intending to replace it with a stripped-down version of the platform that would focus only on jobs. LinkedIn is the last major US social media [...]
Trevelyan hits out at ‘unfair trading practices’ in swipe at China October 11, 2021 The UK’s new international trade secretary will tomorrow hit out at countries engaging in “unfair trading practices” in an apparent attack on China. Anne-Marie Trevelyan will use her first G20 trade meeting in Sorrento, Italy to say “we will not allow British businesses who play by the rules to be damaged and undercut by market-distorting [...]