State conglomerate China Resources is in early-stage talks with Sihuan Pharmaceutical’s chairman about jointly taking the Hong Kong-listed company private in a deal valuing it at nearly $3 billion, two people with knowledge of the matter said. Sihuan is attractive to China Resources (Holdings) Co Ltd, they said, due to sharp growth for its medical […]
China
Chinese smartphone giant Xiaomi Corp faces legal headaches in India as a federal financial crime-fighting agency and tax authorities investigate its business practices. Xiaomi denies wrongdoing. But it recently hit the headlines with accusations that its executives faced intimidation from Indian enforcement officials, drawing public rebuttals from the agency and words of support from China. […]
Apple supplier Foxconn warned that current-quarter revenue for its electronics business including smartphones could slip as growth slowed amid rising inflation, cooling demand and escalating supply chain issues partly due to lockdowns in China. The Taiwanese firm, the world’s largest contract electronics maker, has grappled with a severe shortage of chips like other global manufacturers, […]
Blue tungsten winking from the walls of abandoned mine shafts, in a town that’s seen better days, could be a catalyst for South Korea’s bid to break China’s dominance of critical minerals and stake its claim to the raw materials of the future. The mine in Sangdong, 180 km southeast of Seoul, is being brought […]
European shares hit two-month lows on Monday, led by miners as investors fretted over a sharp economic slowdown in China due to prolonged COVID-19 curbs, while surging bond yields kept technology stocks under pressure. The pan-European STOXX 600 index dropped 1.2 percent to touch its lowest since March 10. Miners fell 2.8 percent as Chinese […]
When it comes to finding the appropriate party to serve as its distributor, rocket manufacturer, and technology guru, the Department of Defense (DoD) fixed its sight on SpaceX, multi-billionaire entrepreneur Elon Musk’s aerospace company. In one of the U.S.’s attempts to empower its stance in the fight of the powerhouses with China, the relation between […]
Shanghai residents are turning to the blockchain to preserve memories of the city’s month-long COVID-19 lockdown, minting videos, photos and artworks capturing their ordeal as non-fungible tokens to ensure they can be shared and avoid deletion. Unable to leave their homes for weeks at a time, many of the city’s 25 million residents have been […]
Taiwan firms making chip and electronic components reported a mixed picture on Wednesday on work resumption in the eastern Chinese city of Kunshan after COVID-19 curbs, with some warning deliveries would be postponed until next month. China has put Shanghai under a tight lockdown since late March and neighbouring Kunshan has also tightened curbs to […]
China’s supply chains must be stabilised amid COVID-19 outbreaks, with local governments helping key companies get back to work, the official Xinhua news agency quoted Vice Premier Liu He as saying. Growing COVID-19 flare-ups are snarling China’s logistics chains, clogging highways and ports, stranding workers and shutting countless factories. The disruptions are already spilling over […]
China said on Friday that it will help hundreds of companies in key sectors to resume production in locked-down Shanghai, the commercial capital at the centre of the country’s latest COVID-19 outbreak, as businesses warn of the growing economic toll of restrictions. The announcement comes as a growing number of business leaders and analysts warn […]