The Cyberspace Administration of China (CAC) has proposed mandating businesses seeking to list in Hong Kong to apply for cybersecurity review if they handle data that relates to national security, reports Reuters. Large internet platforms planning to set up non-domestic headquarters, operating or research centers should also submit a report to regulators, the CAC said […]
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China’s state-owned property developers are coming to the rescue of cash-strapped local governments by increasing their activity in land auctions that had previously been dominated by private developers, reports the Financial Times. In the past three months state developers have bought around three-quarters of residential land sold at auctions in 22 large cities by value. […]
Chinese hotpot giant Haidilao is looking to raise $300 million from a stock placement to top up its capital reserves, days after a radical move to trim around one-fifth of its restaurants to truncate losses, reports the South China Morning Post. The company plans to issue 115 million new shares at $2.62 each to SP […]
A south China court has ordered embattled Kangmei Pharmaceutical to pay around RMB 2.5 billion ($385 million) to over 50,000 investors as compensation for their losses on the company’s stock, reports Caixin. The Guangzhou Intermediate People’s Court found the drugmaker, its executives and auditors responsible for financial fraud that caused RMB 2.46 billion of losses […]
There was a joke in the old Soviet Union: the future is fixed (and bright), it is the past that keeps changing. The Communist Party today issued a summary of a resolution passed by the 6th plenary session of the 19th Party Congress, addressing the last 100 years and the future in an unprecedented and comprehensive way. […]