China Vanke Co. proposed delaying repayment on a local bond for the first time, a surprise move that raises fresh concerns about Beijing’s willingness to support even the largest distressed developers, reports Bloomberg. The builder is seeking to delay paying principal on a RMB 2 billion ($283 million) note due on Dec. 15, according to […]
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Pony AI Inc. plans to expand its robotaxi fleet to 3,000 vehicles by 2026, after reporting strong revenue growth in autonomous passenger services in its first earnings release since completing a dual listing in Hong Kong, reports Caixin. The bold expansion underlines the Chinese autonomous driving startup’s effort to scale operations and improve unit economics, […]
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Didi Global profit surges 67%
Chinese ride-hailing giant Didi Global Inc. reported a 67% quarterly profit rise, a positive sign ahead of a potential Hong Kong listing, reports Bloomberg. Net income came to RMB 1.5 billion ($212 million) in the September quarter, helped by solid momentum in China that offset losses in international markets, the company said in the earnings […]
The Pentagon has concluded that Alibaba Group Holding, Baidu Inc and BYD Co should be added to a list of companies that aid the Chinese military, reports Reuters. Deputy Defense Secretary Stephen Feinberg informed lawmakers of the conclusion in a letter on October 7, three weeks before Presidents Donald Trump and Xi Jinping agreed to a […]
The United States on Wednesday granted a one-year extension of tariff exclusions for some Chinese industrial and medical imports, including equipment for making solar-energy products, as part of a US-China trade truce agreed earlier this month, reports Reuters. President Donald Trump imposed the “Section 301” tariffs in his first term over Beijing’s intellectual property practices. […]