A new generation of Chinese entrepreneurs, represented by a group of start-up founders known as the “Fantastic Four”, are reshaping the global technology landscape and helping China in its rivalry with the US. Liang Wenfeng, founder of Hangzhou-based artificial intelligence (AI) start-up DeepSeek, along with Wang Xingxing, Zhang Yiming and Wang Tao, the founders of…
By Wen-Yee Lee TAIPEI (Reuters) – When Taiwan’s Powerchip Technology entered a deal with the eastern Chinese city of Hefei in 2015 to set up a new chip foundry, it hoped the move would help provide better access the promising Chinese market. Nine years later, however, that Chinese foundry, Nexchip, has become one of its…
Apple (AAPL) stock fell as much as 2% premarket Wednesday after a Bloomberg report said the Chinese government is exploring the launch of an antitrust probe into the company’s policies related to its app store policies and fees. Chinese officials have reportedly been in discussions with Apple executives and developers since last year, according to…
Embattled Hong Kong developer New World Development (NWD) said Thursday night that it will continue to prioritise real estate development as its core business this year and proceed with project launches, amid market rumours that the company is at risk of a default. Residential sales in Hong Kong continue to improve, and the company will…
From policy shifts to new consumption trends, here are ten keywords that illustrate the landscape of this year’s Chinese wine market. By the end of 2024, the Chinese wine market, which many merchants hoped would rebound this year, remains mired in a downturn. Yet, unlike the stark struggles of 2023, glimmers of a more optimistic…
BEIJING (Reuters) – Starbucks China has appointed its first Chief Growth Officer (CGO), Chinese media outlet Late Post reported on Tuesday. The media outlet said the company has hired Tony Yang, former partner and president of digital marketing firm Tezign, to the role. The U.S. coffee giant and Tezign did not immediately respond to Reuters’…
Shanghai-based BYD Co (BYDDY, Financial), China’s largest new-energy car maker, is speeding up in the global auto industry and closing the gap with Ford in terms of sales volume. As a result of new demand and a high production expansion rate, BYD sales by the end of October increased by 36% compared with the corresponding…
By Maki Shiraki TOKYO (Reuters) – Toyota aims to make at least 2.5 million vehicles a year in China by 2030, three people said, an overhaul that will see it bring its Chinese sales and production operations closer together and allow local executives a freer hand in development, The plan, which has not been previously…
FRANKFURT (Reuters) -Luxury sportscar maker Porsche AG on Friday warned it may cut costs after a slower-than-expected transition towards electric vehicles and persisting weakness in the Chinese market caused nine-month operating profit to fall by more than a quarter. “For this reason, we are reviewing our product line-up and ecosystem, as well as our budgets…
In October 2024, Chinese equities have shown resilience as the central bank introduced new support measures amidst growing deflationary pressures, with the Shanghai Composite Index rising by 1.36%. This environment of cautious optimism presents an opportunity for investors to identify promising stocks that exhibit strong fundamentals and potential for growth despite broader economic challenges. Top…