Smartphone maker Xiaomi has entered Western Europe with the launch of its products in Spain, extending its worldwide footprint as global sales rapidly approach the level of domestic ones. The Spanish debut brings Xiaomi’s global reach to nearly 40 countries, as the company tries to extend a nascent comeback following its early rapid rise, which was […]
Category: Consumer
Tesla said it hopes to sell hundreds of thousands of its moderately priced electric vehicles (EVs) each year from a planned China manufacturing base, aiming to tap a new-energy car market likely to soon become the world’s largest as Beijing phases out gasoline-powered models. In discussing its China plans, the US company also pushed back […]
China is preparing to tighten regulation of online consumer lending as part of a campaign against financial risks, dealing a possible setback to Chinese fintech groups that hope to sell shares in the US, the Financial Times reports. Household debt in China remains low as a share of GDP, and authorities have encouraged growth of […]
Online group-buying and restaurant-services operator Meituan-Dianping said Thursday it has raised a fresh $4 billion in funding, as US travel services giant Priceline joined an A-list of investors who valued the company at $30 billion, Caixin reports. Other investors in the latest funding round – one of the biggest of all time for a Chinese high-tech firm […]
Tech giants led by Alibaba’s finance affiliate are making money off the loans consumers use to buy products online. Amid surging demand from cash-strapped Chinese millennials, companies such as Alibaba’s Ant Financial have been extending more consumer loans. The firms are then packaging the debt into complex financial products that they then sell on to investors, with […]