Wells Fargo & Co. suspended travel to China after one of its bankers who works in trade financing was recently blocked from leaving the country. Chenyue Mao, an Atlanta-based managing director who was born in Shanghai, was banned from exiting China after entering the country in recent weeks, according to a person with knowledge of…
China’s oil refiners are grappling with an oversupply of jet fuel, in yet another blow to the bottom line of a sector already dealing with ebbing demand for gasoline and diesel. In the post-pandemic period, as flights returned to the skies, jet fuel was a boon for domestic refiners struggling with a sputtering economic recovery,…
From steel mills to display panel factories, Chinese companies are rapidly integrating artificial intelligence (AI) into traditional industries, marking a major shift toward intelligent, digital manufacturing. Leading the transformation is Shougang Group, one of China’s largest steelmakers, which has deployed an AI-powered visual system that boosted production efficiency by over 20% and cut defects by…
Goldman Sachs Group Inc. claimed top ranking in Hong Kong equity sales for the first time since 2013, riding a wave of billion-dollar deals in the city after three years of lackluster activity. So far this year, Goldman is given credit for $5.6 billion in initial and secondary offerings, beating runner-up UBS Group AG by…
Hong Kong’s residential property market is poised for a recovery after enduring a seven-year downturn, according to Morgan Stanley. Home prices in the city are set to bottom out, driven by an influx of mainland Chinese buyers, improved capital markets and a recent plunge in interest rates, analysts led by Praveen Choudhary said in a…
Baidu Inc. is planning to launch its Apollo Go robotaxi service in Singapore and Malaysia as early as this year, according to a person familiar with the matter, as the company continues to expand its global footprint. Apollo Go is in discussions with potential partners to explore the right business models for the two markets,…
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…