ChemChina and Sinochem are consolidating their agricultural assets into a new holding company to be called Syngenta Group, ChemChina unit Syngenta said on Sunday, reported Reuters. Chen Lichtenstein, current president and CEO of Shenzhen-listed crop protection company ADAMA, which will also be incorporated into the new group, will be nominated CFO of the newly formed […]
Category: Company profile
Chinese liquor giantKweichow Moutaihas announced it is shutting down its e-commerce unit, which had failed to solve the problem of distributors hoarding stock to drive up prices, reported Caixin. Moutai’s board voted unanimously to close the unit, the company saidin a statement to the Shanghai Stock Exchange on Tuesday. No reason was given for the closure. […]
JPMorgan Chase has won approval to launch a majority-owned Chinese securities business, beating out Wall Street rivals and expanding its reach in the country against a difficult background of US-China trade tensions, reported the Financial Times. The US bank is to open a new unit offering services including securities brokerage, investment advisory and underwriting and […]
A unit of ByteDance, the owner of video-sharing platform TikTok, has established a joint venture with a Chinese state media group, official registration documents showed, reported Reuters. ByteDance, which is one of China’s fastest-growing startups, has formed a series of partnerships with state media organizations in order to feed its leading news aggregator platform, Jinri […]
Alibaba Group Holding beat estimates to report a 42% revenue increase in the second quarter amid signs of slowing growth in China’s economy, said the South China Morning Post. New York-listed Alibaba on Thursday posted better-than-expected revenue of RMB 114.9 billion ($16.7 billion) in its fiscal first quarter, up from RMB 80.9 billion a year […]