Chinese biotechnology companies could find a much cooler welcome than expected from investors when they launch initial public offerings in Hong Kong in the future, according to Reuters. Ascletis Pharma Inc became the first China biotech firm to list on the Hong Kong exchange on August 1, but its share price has plummeted 44% in […]
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China’s tightening credit conditions are leading to more private companies becoming increasingly vocal in their calls for local governments to repay their debts, reports the Financial Times. The FT cites the case of Huang Ming, CEO of leading Chinese solar company Himin Solar, who took the unusual step of publicly calling out local officials by […]
The stock price of Yum China jumped nearly 10% on Tuesday after reports emerged that the fast-food restaurant operator had rejected a buyout offer by a consortium led by investment firm Hillhouse Capital, the Financial Times reports. The Hillhouse-led offer had reportedly valued Yum China—whose brands include Pizza Hut, Taco Bell and KFC—at $46 a […]
A data breach at one of China’s leading hotel groups has led to nearly 500 million pieces of personal information and booking details from customers being leaked, Caixin reports. The incident is one of the largest data breaches ever uncovered in China, and comes just a week after Caixin also reported on a hacking incident […]
China analysts disagree whether the country is experiencing a “consumption downgrade” as consumers look to reduce spending due to the rising cost of rent and mortgage repayments, Caixin reports. The idea of a “consumption downgrade” has taken hold in China in recent weeks amid data showing the slowest growth in retail sales since 2003. Brokers […]