China Economic ReviewChinese firm Sichuan Trust, which defaulted on billions of dollars in trust products four years ago, has begun to seek investors for its bankruptcy reorganization, reports Caixin. The bankruptcy administrator of Sichuan Trust published a statement on Tuesday inviting investors to take part in the company’s restructuring. The investors will provide funds to resolve the debt […]
The share price gap between Taiwan Semiconductor Manufacturing Co. (TSMC) and China’s biggest chipmaker is near its widest in almost two decades, highlighting the difficulty Beijing faces in building up its domestic chip industry, reports Bloomberg. Bolstered in part by state-of-the-art chipmaking capabilities, TSMC has soared 48% this year while Semiconductor Manufacturing International Corp. (SMIC) lost 7.5%, leaving […]
The Beijing Stock Exchange will review the initial public offering (IPO) application of an optical fiber and electronics manufacturer on June 17, making it the first IPO to be reviewed by the Exchange after a four-month listing drought, reports Caixin. Chengdu Uestc Optical Communications filed its IPO application in September and plans to raise RMB 150 million […]
Residential and commercial building developer Dexin China Holdings received an order to wind up its business on Tuesday, making the list of developers facing court-ordered liquidation in Hong Kong longer, reports Caixin. The order comes three months after a petition was filed by China Construction Bank (Asia) and a year and a half after Dexin defaulted. […]
A number of Chinese artificial intelligence (AI) companies are seeing greater demand for their social media applications in overseas markets, as adoption on the mainland has been slower by comparison, reports the South China Morning Post. Shanghai-based MiniMax–a generative AI start-up that counts Alibaba Group as a major investor–has become a prime example of such […]