The news this week revolved around the three pillars of the year—virus, economy and Ukraine—with creeping developments on all three. The virus started to impact on Beijing, raising the specter of the capital experiencing the same lockdowns and dislocation that Shanghai has experienced over the past five weeks. This is a serious challenge to the […]
Category: Markets
Full Truck Alliance has put its potential $1 billion listing on the Hong Kong stock exchange on hold due to an ongoing cybersecurity investigation, reports Reuters. China’s ‘Uber for trucks,’ backed by investors including SoftBank’s Vision Fund and Tencent and known as Manbang in China, has been planning a dual primary listing in Hong Kong […]
First quarter sales of smartphones in China were at their lowest level since the start of the Covid-19 pandemic, with poor consumer sentiment to blame thanks to covid-related disruptions and a faltering economy, reports the South China Morning Post. China’s smartphone sales slid 14% in the first quarter of 2022 to 74.2 million units, according […]
The Tencent and GAC Group-backed ride-sharing platform Ruqi Mobility, has conducted a Series A funding round that raised over RMB 1 billion ($152.6 million) to push forward the commercialization of its robotaxi service, reports Nikkei Asia. The funding round was led by existing backer GAC, a traditional automaker that is boosting its presence in autonomous […]
Another of China’s leading internet executives, NetEase’s founder and chief executive William Ding Lei, has taken a step back from some of his corporate duties. Ding, one of the pioneers of China’s internet industry, has given up his corporate roles at NetEase’s media subsidiary, reports the South China Morning Post. Ding, 50, recently stepped down […]