China’s industry regulator has pledged to provide more fiscal support for small-scale innovative firms in specialised industries, reports the South China Morning Post. The support for firms referred to as the country’s “little giants” are part of a range of measures designed to boost the country’s technological self-reliance and upgrade key industries. Li Lecheng, the head of China’s […]
Category: Investment
X Square Robot, a China-based startup specializing in humanoid robotics, has raised RMB 1 billion yuan ($143 million) in a new funding round led by TikTok owner ByteDance and venture capital firm HongShan Capital Group, reports Caixin. The investment marks the latest sign of investor enthusiasm for China’s fast-evolving “embodied AI” sector—artificial intelligence systems capable of […]
Shanghai has announced a slew of new investments worth RMB 70 billion ($10 billion) in hi-tech industries ranging from chips to artificial intelligence and aviation, reports the South China Morning Post. Shanghai is the latest Chinese city to unveil ambitious plans to boost local innovation amid an intensifying US-China tech race. The city’s Pudong district unveiled […]
Chinese private rocket company LandSpace Technology has received the green light to list on Shanghai’s STAR Market, marking a potential first for China’s fledgling commercial space sector, reports Caixin. The company aims to raise RMB 7.5 billion ($1.1 billion) through the offering. According to a stock exchange filing, the Shanghai bourse accepted LandSpace’s listing application on […]
China Vanke is once again seeking to delay the repayment of a maturing domestic bond, reports Caixin. This is the third such attempt as the embattled property developer faces intensifying liquidity pressure and dwindling state support. Vanke announced it would convene a meeting of bondholders for its “21 Vanke 02” corporate note to vote on a […]