Chinese bike-sharing startup Hello, previously known as Hellobike, raised $280 million from a recent funding round led by Alibaba and Ant Group, reports Caixin. It was e-commerce giant Alibaba’s first investment in Hello, although the company’s finance arm Ant has been a longtime backer and the largest shareholder of the company. Ant held 36.3% of […]
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The share value of Contemporary Amperex Technology (CATL), the world’s biggest lithium-ion battery manufacturer, will see a boost from its inclusion next month in the CSI 300 Index, which tracks the nation’s largest onshore stocks, reports the South China Morning Post. CATL, which has a 50% share of the China market and 30% globally, is […]
Global holdings of Chinese stocks and bonds have increased by around $120 billion in 2021 as international investors look for returns in the country’s markets despite recent regulatory crackdowns by Beijing, reports the Financial Times. International investors held RMB 7.5 trillion ($1.1 trillion) of equity and fixed income securities priced in Chinese yuan as of […]
China will continue to move forward with the development of its central bank digital currency and make improvements to its design and usage, reports Reuters. China is a front-runner in the global race to launch central bank digital currencies (CBDC) and is testing a digital yuan, or eCNY, in major cities including Shenzhen, Beijing and […]
Chinese car manufacturing giant and owner of Volvo, Geely Automobile Group, has unveiled an electric truck that they plan to start delivering in 2024, reports the South China Morning Post. Geely unveiled its electric truck, called Homtruck, late on Monday and said it aimed to produce 570,000 trucks by 2030. “An upgrade of the next […]