An expected increase in mainland corporate bankruptcies may pose challenges for foreign creditors in Hong Kong and elsewhere thanks to differences between court and legal proceedings for firms that file for bankruptcy, South China Morning Post reported, citing liquidation experts. Johnson Kong Chi-how, the managing director of accounting firm BDO, said that if any assets of […]
Category: Business Practice
Notice: China Economic Review’s daily newsbriefs will be going on hiatus from Monday, September 28 through Friday, October 9 for the duration of China’s National Day holiday. Said hiatus will also apply to the weekly review and editor’s choice newsletters. Regular updates will resume for all of the above on Monday, October 12. In the meantime, […]
Tencent CEO Pony Ma appears to have sold off 23 million shares of the company’s stock through four transactions that put the value of stock sold at above US$400 million, Tech In Asia reported, citing Hong Kong stock exchange data. According to Sina Tech, the sale lowered Ma’s ownership of the company from 9.62% to […]
Heilongjinag Longmay Mining Holding Group, the largest state-owned coal mining firm in Northeast China, will cut its roughly 240,000-person workforce by 100,000 over three months, Caixin reported, citing the company’s Chairman, Wang Zhikui. Longmay will also sell its non-coal businesses and work to collect debts it is owed by other firms in a bid to resolve […]
HSBC Holdings intends to add 4,000 jobs in the Pearl River Delta as it pares down operations elsewhere in the world by around 50,000 over the next 3-4 years, Bloomberg reported, citing an interview with the firm’s Asia-Pacific Chief Executive Officer Peter Wong in the Hong Kong Economic Times. The new hires would be a […]