The EV unit of embattled real estate developer China Evergrande said liquidators are in talks with a potential buyer who may also extend a new line of credit for production.
Dubai is shaping up to be a new favourite for buyers, thanks to a booming real estate market and fast-track residency scheme, agents say. It handed out 158,000 ‘golden visas’, dwarfing the 13,000 that Portugal has issued since 2012.
Home purchases in Hong Kong are slowing down after an initial spate of enthusiasm sparked by the government’s rollback of cooling measures in February.
The latest government measures are merely ‘a drop in the ocean’, and rebuilding homebuyers’ confidence in the presale system is a precondition for any revival, analysts say.
The largest US semiconductor equipment maker is being probed by authorities for sending gear to SMIC via South Korea without Washington’s approval.
Alibaba has emerged as a major backer of Moonshot AI, one of China’s hottest artificial intelligence start-ups, holding a 36 per cent stake in the firm.
In Southeast Asia, Chinese EV builders from established giants like BYD and Great Wall to start-ups such as Hozon are offering discounts in a bid to take on Japanese rivals whose petrol cars dominate the market.
The start-up, a rival to ChatGPT creator OpenAI, has been marketed to a range of Silicon Valley investors.
The lay-offs, which were announced internally earlier this week, are expected to affect TikTok’s operations and marketing departments.
The expansion has been driven by a stellar run in the bond market and a stabilisation in stocks, as investors shift to fund products.
Gate.HK, the Hong Kong arm of cryptocurrency exchange Gate.io, says it took ‘a proactive step’ to withdraw its application.
Nvidia’s H20 chip is being sold in some cases at more than a 10 per cent discount in China, compared to Huawei’s Ascend 910B, sources said.
The acquisition ‘vertically integrates the energy supplier and key end-user’, Hans Energy CEO Yang Dong says, adding that its ‘strategic development of the hydrogen industry’ aligns with Citybus’s net-zero emissions goal.
The Chinese tech giant is selling up to US$5 billion worth of convertible bonds, while company leaders set e-commerce and cloud computing as its core businesses in a move ‘towards strategic clarity’.
Troubled property developer receives lifeline a day after Fitch Ratings downgraded its default ratings.
Chinese local government entities have carried the mantle of cornerstone investors in first-time stock offerings in Hong Kong in the past two years as foreign investors shun deals. Their outsize role could work against the city’s capital market, market experts say.
CSRC’s new chief Wu Qing has sought to improve corporate governance and close deep valuation discounts in a bid to revive investors’ faith in China’s US$9 trillion stock market and these bold moves have met with some early success.
Alibaba scales back an ambitious business overhaul plan and bids farewell to a turbulent year, as its founders call on employees to embrace changes.
Even in the absence of the buying restrictions, a healthy supply and elevated interest rates mean the city’s infamously expensive house prices are unlikely to return to the kind of breakneck growth seen in the past, analysts say.