China will slash the amount of finance it gives to Africa over the coming three years by a third, an indicator of Beijing’s increasing caution over the continent’s debt levels, reports the Financial Times. In a video address to the triennial Forum on China-Africa Cooperation being held in Senegal, Chinese leader Xi Jinping pledged $40 billion […]
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ByteDance, owner of short video app TikTok, has invested in Dubai-based courier company iMile Delivery that services Chinese online vendors, reports Bloomberg. The company’s series A funding round, one of the Middle East’s largest by a female founder to date, raised $40 million and valued iMile at $350 million. ByteDance committed around $10 million at […]
Chinese internet company ByteDance, owner of short-video app TikTok, has purchased a 20% stake in Beijing Maitian Real Estate Brokerage, signaling their latest foray into the China property rental market, reports Caixin. The move comes after ByteDance successfully acquired a real estate broker’s license in late September through a wholly owned subsidiary taking a 100% […]
China’s Ministry of Industry and Information Technology (MIIT) announced the need for increased cross-border security management of big data until 2025, in a five-year plan issued on Tuesday, reports Reuters. The plan, which expands upon China’s 14th Five-Year Plan published earlier this year, comes as the nation has prioritized its regulatory framework for data and […]
Struggling Chinese property developer Kaisa has had an offer to lengthen the maturity of their debt rejected by its offshore bondholders, casting further doubts over the company’s attempts to avoid a default next week, reports the Financial Times. The move may well worsen a crisis at Kaisa, one of China’s most indebted developers, which has […]