China’s e-commerce giant Alibaba Group Holding, fired a manager on Monday after being accused of sexual assault, forcing the company to establish legal rules to ensure an incident like this won’t happen again. Days before the issue surfaced, the female employee who was the victim of the sexual assault posted an 11-page account on Alibaba’s private network, noting that not only did the manager sexually assault […]
China
Amidst Washington’s deadlock with Beijing, China Telecom may potentially elevate its Shanghai’s initial public offering (IPO) to more than $8 billion leading to its biggest offering this year in the Shanghai Stock Exchange, following the firm’s delisting in its New York counterpart (NYSE) in January. Following Chinese media reports, the Beijing-based firm established its IPO at $0.70 per share, inflating the firm’s worth […]
Security firm Cybereason reported on Tuesday that it detected three vicious cyberattacks operating on behalf of the Chinese state targeting at least five of the biggest telecommunications firms located in Southeast Asia countries. Previously, a similar cyberattack on Microsoft Exchange email server, the U.S., Britain, and the European Union have repeatedly accused Beijing of state […]
Famous Beijing-based giant Didi denied any allegations of plans to go private in a bid to satisfy the Chinese government amidst latest regulations concerning users’ data security. After the Wall Street Journal released a report discussing the possibility of Didi going private, the ride-hailing app’s shares increased by approximately 50 percent in Thursday’s pre-market trade. The company has been targeted by Beijing regulators ever […]
Chinese mobile service revenues are expected to grow at a compounded annual growth rate CAGR of 3.1 percent from $131.3 billion in 2021 to $152.7 billion in 2026, according to a study published on Thursday. London-based data analytics company, GlobalData published a study showing that the mobile data revenues will witness a rise in its CAGR reaching 6.8 percent due to the growing adoption of 5G services, followed by the rise […]
Late on Wednesday, Xinhua News Agency reported that China’s latest regulations against tutoring for profit and Big Tech is beneficial to the country’s growth as it stiffens its commitment to expand its capital market, leading to a share plunge in education firms. China’s latest attempt to ease financial pressure on families that support low birth […]
Shares in Shenzhen-based media titan Tencent tumbled on Monday following China’s verdict to restrict its private music licensing deals with record labels around the globe, halting the platform’s efforts to show sovereignty over online music streaming in the country. On Saturday, China’s State Administration of Market Regulations (SAMR) announced that the firm is not abiding […]
Chinese ride-hailing titan Didi plunged by more than 11 percent in New York shares on Thursday, following whispers of impending new penalties by Beijing on the company. The ride-hailing giant is once more exposed to further pressure from the Chinese government leading to harmful impact on its revenues after trustbusters ordered it to be removed […]
Tencent, the Chinese tech-company labeled as the biggest around the globe, has officially launched facial recognition technology that will be utilized to scan many Chinese kids’ faces every single night. The system will operate for the purpose of catching minors breaking the gaming curfew set by the Chinese government. This may seem like one intense episode of […]
Tencent revealed on Monday plans to acquire British video game company Sumo Group in a $1.27 billion deal, raising Sumo’s last closing price. The Chinese titan already owns 8.75 percent of the company’s stake, and with this purchase it will increase Sumo’s last closing price by offering a premium 43 percent rise, according to Games […]