China Economic ReviewOne of the world’s biggest insurers by market value, Ping An, experienced its largest profit drop in over a decade in 2021 due to blows from weakened property developments and Covid-dented demand, reports the Financial Times. The company released annual results on Thursday describing “complex and severe” external conditions that had held back sales, as […]
A Chinese engineering machinery manufacturer, a medical equipment producer and a battery maker all revealed plans to list on the SIX Swiss exchange after Beijing showed support for domestic companies listing offshore, reports Reuters. Shanghai-listed Sany Heavy Industry, and Shenzhen-traded Gotion High Tech and Lepu Medical Technology (Beijing) said in respective filings that they aim […]
Beijing has signaled its intentions to stabilize struggling financial markets, vowing to support property and technology companies, stimulate the economy and ease a regulatory crackdown, reports Bloomberg. According to a meeting of China’s top financial policy committee led by Vice Premier Liu He, the government must “actively introduce policies that benefit markets.” That vow to […]
Alibaba-affiliated fintech group Ant has sold the entirety of its stake in 36Kr, a Chinese tech news portal, reports the South China Morning Post. Registered in a filing with the US Securities and Exchange Commission, the move marks the companies most recent restructuring amid a toughening regulatory environment. Ant invested in tech news platform 36Kr […]
Five New York-listed Chinese firms have been named by the US Securities and Exchange Commission (SEC) as the first of up to 270 that face delisting if they do not provide required audit documents to support their financial statements, reports the Financial Times. The SEC said that fast-food giant Yum China, biotechnology groups BeiGene, Zai Lab […]