China Economic ReviewChina’s imports of integrated circuits (ICs) slumped 18.5% in the first six months of 2023 from a year earlier by volume, according to newly released customs data, at a time when the US and its allies are continuing to restrict China’s access to advanced chips and technologies, reports the South China Morning Post. China’s imports of […]
China’s economy likely grew 7.3% in the second quarter from a year earlier due to a low base, but momentum is rapidly faltering, a Reuters poll showed, raising expectations Beijing will have to roll out more stimulus measures soon, reports Reuters. While the reading will be heavily skewed by economic pains caused by COVID-19 lockdowns […]
Alibaba’s Ant Financial, after being in the doghouse for nearly thrree years, was fined a sum of nearly $1 billion dollars related to its freewheeling approach to personal finance following its failed IPO. There was a sense the system wanted to give the platform companies including Alibaba, Tencent and Pinduoduo etc. a clear signal that they can […]
Carlyle Group and Trustar Capital are seeking a partial exit from McDonald’s Corp.’s operations in Hong Kong and mainland China, people familiar with the matter said, in a deal that would raise $4 billion, reports Bloomberg. GIC Pte and Mubadala Investment, the Abu Dhabi sovereign wealth fund, have been approached about the deal that values […]
EY’s Chinese business has been refusing to pay fees owed to the Big Four firm’s global headquarters for more than a year in a dispute over IT services that it says cannot be fully used in China, according to people familiar with the matter, reports the Financial Times. The tussle is playing out just as […]