GUANGZHOU, China (Reuters) – Nio unveiled a lower-cost brand named Firefly on Saturday that it touted as a rival to Mercedes’ Smart and BMW’s Mini in the Chinese electric vehicle maker’s latest bid to broaden its customer base and boost sales. CEO William Li announced the new brand at an annual company event in Guangzhou…
(Reuters) – Chinese property giant Dalian Wanda has told some investors it plans to establish a fund of about 50 billion yuan to 90 billion yuan ($6.91 billion – $12.44 billion) to pay taxes and debt, Bloomberg News reported on Friday, citing people familiar with the matter. ($1 = 7.2322 Chinese yuan renminbi) (Reporting by…
Topline Chinese Embassy officials in the U.S. warned Monday that a trade war between the two countries would have no winners, after President-elect Donald Trump reiterated his plans to impose additional tariffs on Chinese imports. U.S. President-elect Donald Trump speaks at a House Republicans Conference meeting at the Hyatt … [+] Regency on Capitol Hill…
By Scott Murdoch SYDNEY (Reuters) – Chinese ecommerce giant Alibaba Group is aiming to raise $5 billion in multi-tranche dollar and offshore Chinese yuan bonds, according to two sources with direct knowledge of the matter. The company in a regulatory filing on Monday said it was considering carrying out the transaction. The dollar tranche would…
SHANGHAI (Reuters) – China is widely expected to trim its main policy and benchmark lending rates on Friday, a Reuters poll showed, after the Federal Reserve’s outsized interest rate cut removed some of the risks around sharp yuan declines. Monetary policy divergence and a weakening Chinese yuan have been the key constraints limiting Beijing’s efforts…