Chinese state media labeled the U.S. a “rogue country” and dubbed the potential sale of social media firm TikTok to Microsoft as “theft,” adding that Beijing could retaliate if a deal is sealed. Microsoft announced plans on Sunday to acquire TikTok’s business in certain markets — the U.S., Canada, Australia and New Zealand. Commenting on the matter, President […] Read more
Chinese fintech firm Ant Group has begun the process of a concurrent initial public offering in Shanghai and Hong Kong. Ant, an affiliate of e-commerce giant Alibaba, said Monday that it would list its shares on both the Shanghai stock exchange’s STAR — a Nasdaq-style tech board — and the Hong Kong stock exchange. The dual […] Read more
An extended rally in shares in mainland China lifted spirits across the Asian region on Thursday. Gains however were limited as the number of coronavirus cases globally soared above three million, with little sign of the virus peaking. China’s Shanghai Composite index closed 47.15 points or 1.39% higher at 3,450.59 points Thursday, while the blue-chip […] Read more
As China grapples with rising unemployment and slowing growth, some say a needed economic boost could come from new business approaches to hiring. The systemic challenges run deep. In one indication, a Chinese reality TV show featuring female contestants in their 30s to 50s jumped to the top of the charts after premiering last month. The show […] Read more
TikTok users in the U.S. and Hong Kong are deeply concerned after realizing that political matters may have jeopardized their future on the app. U.S. Secretary of State Mike Pompeo told Fox News on Monday that he is “looking at” banning TikTok and other Chinese social media apps amid rising tensions between Washington and Beijing. Within […] Read more
The Luckin Coffee fraud scandal was a “great morality tale” for markets, and more needs to be done to protect American investors from such cases, said an analyst, who said a bill to delist Chinese companies in the U.S. is essentially toothless. “It’s a great morality tale. It seems to me that those of us […] Read more
Huawei could be banned from participating in India’s 5G network rollout, just months after it was given the green light to participate in the country’s trials for the technology. It comes after the Indian government said it would block 59 Chinese apps such as TikTok and WeChat, claiming they were a threat to national security. As […] Read more
The UK government’s planned post-Brexit trade deal with the US has been threatened by a revolt among Tory peers and MPs in Conservative-voting country shires where there are mounting anxieties about a collapse in food and farming standards. The much-vaunted agreement would be the biggest prize in a raft of trade deals the UK hopes to […] Read more
A major plan that will form part of China’s global technology push has been dubbed as hype and will face a number of challenges, a technology industry body. China Standards 2035 is an ambitious 15-year blueprint that Beijing is expected to release this year. It will lay out China’s plans to set the global standards for the […] Read more
China’s bond market is the exception, UBS Asset Management’s Hayden Briscoe said, as investors struggle in their hunt for yield. Major central banks around the world have taken drastic steps, like slashing or maintaining record low interest rates, to shore up financial markets reeling from the coronavirus pandemic. The yield on the 10-year China government […] Read more
