Chinese tech giant Baidu continues to shake up its autonomous driving division with the departure of Wu Xuebin, the company’s vice-president who was in charge of its autonomous vehicles operations, Caixin reports. Wu had been in charge of Baidu’s autonomous driving division since September 2016, according to Caixin. Baidu has been one of the most aggressive promoters of […]
Category: Business Practice
The CEO of real-estate giant Wanda Group Inc. Wang Jianlin, told Caixin Global that the company has pledged not to default on any further debt obligations, as it continues its process of selling foreign assets. Concerns have been growing around Wanda’s liquidity, with over $500 million of repayments of offshore loans due in March. To […]
Shanghai Pudong Development Bank’s Chengdu branch has been given a 462 million yuan (US$72 million) penalty by the state banking regulator, following revelations of a large-scale shell company fraud, the SCMP reports. The branch had previously claimed to hold “zero” non-performing loans, but was found to have falsified loan applications and granted other unapproved funds […]
Last week, there was a mini-panic among some foreign residents of China about internet access. They interpreted a communication in the middle of last year as indicating that all VPN access to the great wide world would be cut this month. Our view was always that that would not happen, and, touch wood, it hasn’t. […]
China aims to safeguard its food security and curb pollution by making government officials directly accountable for protecting the farmland in their regions, Reuters reports. The country’s rapid urbanization and high levels of pollution threaten to put a squeeze on its food security, as food demand rises and agricultural land is sold off or contaminated. To […]