Chinese Zhongzhi Enterprise Group Says About Its Huge Debt
The largest Chinese asset management company Zhongzhi Enterprise Group (ZEG) has informed investors that it is no longer able to pay its bills.
China - page 14
China Fines Foxconn
In China, local tax authorities fined a subsidiary of Foxconn Technology Group.
Baidu Posts Revenue Rise
Chinese technology giant Baidu on Tuesday, November 21, announced the financial results of its activities for the third quarter of 2023.
Mastercard JV to Process Domestic Payments in China
Mastercard joint entity in China received formal approval from the People’s Bank of China and the National Administration of Financial Regulation to start processing domestic payments in the country.
Xiaomi Posts Sales Rise
Xiaomi Corp. reported revenue growth for the first time in almost two years.
China Rolls Out Advanced Internet Network
China has begun deploying what it described as the world’s most advanced Internet network.
Alibaba Loses $20 Billion in Market Value
Chinese e-commerce giant Alibaba has lost $20 billion in market capitalization after it became known that this company will no longer spin-off and list its cloud computing business as a separate functional unit.
Chipmaking Gear Companies Record Sales Growth in China
Leading manufacturers of equipment used in making microcircuits have recorded a sharp increase in the share of revenue they receive in the Chinese market.
China’s Retail Sales and Factory Exceed Expectations
According to October results, retail sales and industrial production volumes were recorded in China, which exceeded initial expectations.
Xiaomi and Huawei Lead China Phone Market
Huawei Technologies Co. and Xiaomi Corp. have activated the Chinese mobile phone market, which showed double-digit growth in October.
Meta Plans to Bring Its Mixed Reality Headset to China
Meta Platforms Inc. has approached the conclusion of a deal that will provide this technology giant with the opportunity to supply a mixed-reality headset to the Chinese market.
China’s Largest Chipmaker SMIC Reports Drop in Profit
The largest Chinese manufacturer of chips SMIC last Thursday, November 9, reported that at the end of the third quarter of this year, its profit indicator showed a significant drop.
Nvidia Reportedly to Release New AI Chips for China
The media reported that Nvidia Corporation plans to release three new artificial intelligence chips developed specifically for the Chinese market.
HSBC CEO Says About Increasing Diversification Away From China
HSBC CEO Noel Quinn said that there is currently a trend of increasing diversification outside of China, noting that this process does not only concern foreign companies.
Ant Group Partners PayNet for Cross-Border Digital Payments
Travellers with Ant Group’s Alipay+ partner e-wallets from China, Hong Kong, Philippines, Mongolia, Macau, Japan, South Korea and Thailand can now make QR payments at over 1.8 million PayNet’s DuitNow touchpoints across Malaysia
Chinese Leaders Positively Evaluate State of This Country’s Economy
Senior Chinese officials at the investment summit in Hong Kong said that the state of affairs in the economic system of this Asian country is not catastrophic or totally negative, appealing to world financiers not to worry about Beijing’s prospects in the relevant sphere.
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