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Tencent Holdings Ltd.’s new game, Dungeon & Fighter Mobile (DnF), brought in $270 million on iOS in the first 30 days after its May 21 launch, more than doubling the sales of long-standing Chinese best-seller Honor of Kings, reports Bloomberg. DnF now takes the top spot in both downloads and revenue in the country, data […]

UBS Group AG has agreed to sell a 36.01% holding in Credit Suisse Securities (China) Ltd. to Beijing State-owned Assets Management Co. for $91.4 million, dealing a blow to the ambitions of Ken Griffin’s Citadel Securities to expand in China, reports Bloomberg. Founder Securities Co. Ltd. will also sell its entire 49% stake in the […]

TikTok owner, ByteDance, is working with US chip designer Broadcom on developing a 5 nanometer application-specific integrated chip (ASIC) in a move to help ByteDance secure sufficient supply of high-end chips amid US-Sino tensions, reports Reuters. The advanced AI processor would be compliant with US export restrictions and manufacturing work would be outsourced to Taiwan’s TSMC, […]

Online fast-fashion group Shein has filed confidential paperwork for an initial public offering (IPO) with the UK’s market regulator, taking the company a step closer to what could be a blockbuster listing for London, reports the Financial Times. The Chinese-founded group could fetch a market valuation of about £50 billion. Shein, which grew in popularity […]

China’s energy regulator has said it will take steps to limit the addition of “low-end” solar manufacturing capacity, following industry leaders’ call for greater government intervention at a conference earlier this month, reports Caixin. The competition in China’s solar power industry is “indeed very fierce,” an official at the National Energy Administration (NEA) said at […]