China Economic ReviewHuawei Technologies is nearing one billion active consumer devices and about 900 million Huawei gadgets have its HarmonyOS operating software installed, reports Bloomberg. Sales of premium Huawei smartphones climbed 72% in the first five months of 2024, Chairman Richard Yu said at an annual developer forum Friday. Those numbers illustrate the phenomenal growth Huawei’s phones have […]
China’s largest state-owned car manufacturer, SAIC Motor Corp., is changing its leadership amid lackluster domestic growth and as it grapples with the transition to production in China’s highly-competitive new energy vehicles segment, reports Caixin. Wang Xiaoqiu, 59, president of SAIC, is set to become chairman of the Shanghai-based group, according to a Friday announcement by the […]
Henan province is planning to issue new a 10-year, RMB 52 billion ($7.1 billion) special-purpose bond (SPB) to swap off-the-books borrowings, signaling that Beijing may be expanding the methods local authorities can use to resolve their hidden debt, reports Caixin. “Outstanding debt” in this context refers to the outstanding local government hidden debt that had been recorded […]
An independent investment management company, Invesco, is launching the first European exchange traded fund (EFT) tracking China’s ChiNext 50 index, reports the Financial Times. Invesco’s listing comes as closures of China-focused ETFs have risen to a record level, with investors and fund houses withdrawing after years of poor stock market performance and rising geopolitical frictions […]
SenseTime, one of China’s leading artificial intelligence (AI) companies, is looking to raise HK$2 billion ($260 million) from a stock placement, in an attempt to scale up the company’s AI infrastructure, reports the South China Morning Post. The company plans to issue 1.67 billion new shares valued at HK$1.20 each. No shareholder approval is required as […]