SoftBank will significantly cut back on new investments in China due to regulatory uncertainty, Chairman and CEO Masayoshi Son said on Tuesday, after a crackdown by Beijing dented the valuation of its investments, reported Caixin. The retreat of SoftBank marks the loss of one of the most aggressive tech investors in China and signals a […]
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Rising numbers of private school owners in China have been forced to give their institutions to the state as the fallout from Beijing’s abrupt education overhaul ripples across the country, reported the Financial Times. Over the past three months, city authorities have taken over at least 13 for-profit primary and middle schools as well as […]
Fretting about unprecedented regulatory heat for China’s tech sector, some companies are no longer waiting for any official reprimands that may or may not be forthcoming, reported Reuters. KE Holdings, China’s largest platform matching buyers and sellers of real estate, is one such example. This year it quietly shut down its VIP services that promised […]
China’s benchmark sovereign bond yield jumped the most in a year, as quickening inflation sowed doubts whether the nation’s notes can maintain their world-beating advance, reported Bloomberg. The 10-year government bond yield climbed as much as six basis points to 2.87% on Monday, its biggest rise since July 2020, after eight straight weeks of declines. […]
Renault will partner with Geely to sell hybrid cars in China, marking the French group’s first big deal in the world’s second-biggest economy since it exited its main joint venture last year, reported the Financial Times. Geely, the Chinese owner of Sweden’s Volvo Cars, and Renault said on Monday they would share resources and technology […]