Caixin reports Wal-Mart Stores Inc. will exchange its main Chinese shopping website for around $1.5 billion worth of shares in JD.com Inc., China’s second largest e-commerce company, in hopes of bolstering its presence in the country’s burgeoning but cutthroat online shopping market. Wal-Mart will sell its Yihaodian website for 145 million newly issued class A […]
Category: Business Practice
In less than six months of 2016, China’s appetite for overseas acquisitions has already outgrown last year’s record, as deal-hungry mainland buyers chase global assets such as real estate, chemicals and high-end technology, according to Reuters. China National Chemical Corp’s $43 billion bid for Swiss agrichemicals maker Syngenta makes up almost 40% of this year’s […]
Private car services operator Didi Chuxing Technology Co. said it has received about US$ 600 million in new funding from China’s top life insurer, which joined Apple as the latest major backer of the firm often called China’s homegrown Uber, according to Caixin. Didi, China’s largest private car services and taxi-hailing app operator by rides, […]
Reuters reports Nokia has signed a 1.36 billion euro ($1.5 bln) one-year framework deal with China Mobile, the Finnish company said on Monday, easing fears that it would lose market share while it merges operations with Alcatel-Lucent. Shares in the company were up 0.2% as of 1120 GMT versus a Helsinki bourse down 1.42%. Nokia’s […]
Soaring corporate debt is a serious and worsening problem in China that needs to be tackled quickly if Beijing wants to avoid potential systemic risk to itself and the global economy, a senior International Monetary Fund official warned, according to The Wall Street Journal. While China’s total debt of around 225% of gross domestic product […]