China Economic Review
China Evergrande Group said on Tuesday a winding-up petition was filed against it by investment holding firm Top Shine Global in Hong Kong for not fulfilling a financial obligation of HK$862.5 million ($109.91 million), reports Reuters. On Monday, Reuters reported that Top Shine Global, an investor in Evergrande’s unit Fangchebao (FCB), had filed the petition […]
Germany’s BMW said on Thursday that production has formally begun at a new plant in China with an investment of RMB 15 billion ($2.24 billion) as the carmaker accelerates electric vehicle (EV) production, reports Reuters. The Lydia plant, BMW’s third car assembly facility in China, located in the northeastern city of Shenyang, Liaoning province, will […]
Alipay, the mobile and online payments service operated by Ant Group, is the most trusted brand in mainland China, according to a survey published on Wednesday by US-based global decision intelligence company Morning Consult, reports the South China Morning Post. More than half, or 53%, of consumers surveyed in China said they use Alipay daily, […]
China’s new registrations for companies have fallen sharply in recent months, a sign of how the country’s coronavirus lockdowns could have long-term implications for economic growth, reports Bloomberg. Some 2.3 million businesses were registered nationwide from March through May, down 8% from the same period a year earlier, according to data from Chinese company registration […]
Didi Global will trade on the New York Stock Exchange for the last time on Friday, ending a wild 11-month ride on the prestigious US market while leaving investors in the lurch about its future direction, reports Nikkei Asia. Didi shareholders voted overwhelmingly to back the company’s delisting plan on May 23 after the ride-hailing […]