A group of Chinese agencies has issued the country’s most extensive set of guidelines yet governing the development of its ride-hailing industry, dispensing another setback to struggling ride-hailing company Didi Global, reports Bloomberg. Agencies including the antitrust watchdog, transport ministry and public security bureau issued a formal package of rules Tuesday targeted at protecting the […]
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The world’s biggest personal computer manufacturer, Lenovo, has retained its position as the global and Chinese market leader in Q3 of 2021 despite debt concerns and an abandoned Shanghai IPO, reports the South China Morning Post. The Beijing-based manufacturer came ahead of competitors HP, Dell and Apple in the three months ending September, having shipped […]
The Cyberspace Administration of China (CAC) have asked embattled ride-hailing company Didi Global’s executives to come up with a plan to delist from US bourses, an unprecedented request that will reignite concerns about Beijing’s intentions for the Chinese tech industry, reports Bloomberg. The CAC, China’s tech regulator, wants Didi to be removed from the New […]
Electric vehicle (EV) manufacturer Tesla has announced plans to increase production at its Shanghai plant, adding workshops and staff as the company increases its investment in the world’s biggest EV market, reports Caixin. The EV maker will build multiple new workshops for stamping, painting, automotive body production and final assembly, according to an environmental impact report […]
Two of China’s internet giants, microblogging platform Weibo and the NetEase-backed music streaming site Cloud Village, have set their sights on raising close to $1 billion between them in initial public offerings on the Hong Kong Stock Exchange, reports the South China Morning Post. Weibo, often dubbed the Twitter of China, is selling 11 million […]