Welcome to CFO Briefing, a newsletter devoted to corporate finance and what leaders need to know. This week, I talk to CFOs about how they’re decoupling their China businesses in light of possible new tariffs and other risks, and connect with Wendell Huang, the finance chief of chip giant TSMC. But first, here’s some news…
China’s electricity demand is becoming a key focal point in the global fight against climate change. As the world’s largest polluter, China holds outsized sway over whether emissions can be reduced fast enough to avoid the worst impacts of global warming. The country’s breakneck adoption of clean energy technology has created hope that it will…
A Hong Kong court delayed a hearing on Sino-Ocean Group Holding Ltd.’s restructuring agreement with lenders, as the state-linked builder awaits a decision later this month on a UK case involving a debt plan for all creditors. Sino-Ocean earlier said that a group of loan lenders holding 86.2% of its debt had voted in favor…
China’s straitened economic circumstances are being reflected in Lunar New Year travel plans, with many choosing cheaper domestic trips or nearby destinations in Asia. Around 2.2 million to 2.6 million people are forecast to travel globally during the eight-day holiday that starts the eve of Jan. 28, according to digital marketing and research firm China…
Some of China’s senior doctors are raising concern over the quality of domestic generic medicines that have largely replaced western brand-name drugs at hospitals, amid a rare public backlash against the government’s drive to cut medical costs. Hospital chiefs and doctors in Beijing and Shanghai said the cheaper generic drugs mandated for use at public…
A bank trying to unload a luxury mansion in Hong Kong formerly owned by a Chinese property tycoon has slashed its price by about 60%, reflecting the tepid demand for high-end real estate. The house at 15 Gough Hill Road is on offer for about HK$700 million ($90 million) to HK$800 million, compared with a…
After launching the biggest boom in renewable power in history, China is now paying-up to make sure all that clean energy can get to homes and businesses. Spending on power transmission surged 19% to 529 billion yuan ($72 billion) in the first 11 months of last year, according to the National Energy Administration. Funding for…
China’s first polysilicon futures debuted on Thursday, as a new hedging tool for a market that has been struggling with massive price volatility. The Guangzhou Futures Exchange is offering seven contracts for delivery starting from June of 2025. The margin requirement is 9% of the contract value. Prices will be allowed to rise or fall…
Song Gang, who oversaw the construction of Tesla Inc.’s Shanghai factory, is set to leave the automaker this week, according to people familiar with the matter. Song, who previously worked at General Motors Corp. and Ford Motor Co., joined Tesla in 2018 as the first employee of the electric car maker’s first factory outside the…
Starbucks Corp. hired its first-ever chief growth officer in China, tasked with luring back young coffee drinkers as the US chain struggles with cheaper local rivals in its biggest international market. The executive, Tony Yang, has been on board since November and will pursue a strategy of brokering tie-ins with entertainment brands and pop culture…