Chinese automaker BYD on Tuesday said it will invest 3 billion reals ($620.17 million) in a new industrial complex in northeastern Brazil, as it aims to boost local production to offer more competitive prices, reports Reuters. The complex, made up of three plants, will be built in the Camacari industrial park in the northeastern state […]
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Shein said to be in talks about US IPO
China-founded online retailer Shein is working with at least three investment banks about a potential US initial public offering, according to people familiar with the matter, and has been in talks with the New York Stock Exchange and Nasdaq, reports Reuters. Goldman Sachs, Morgan Stanley and JPMorgan Chase are among the banks helping Shein with its IPO […]
The barrage of criticism taken by Tencent Holdings for its plan to charge fees on WeChat Pay transactions at Chinese universities illustrates the difficulty of raising more revenue from what has become a massive service used by 1.3 billion people, reports Nikkei Asia. Several colleges, including Northwest University, said in late June that they would […]
China has hit back at US-led restrictions on semiconductor sales by seeking to throttle exports of two metals used in chipmaking and communications equipment, as the geopolitical tit-for-tat between the two superpowers steps up, reports the Financial Times. Gallium and germanium will be subject to export restrictions in order to “safeguard national security and interests,” […]
BYD, the world’s biggest electric vehicle (EV) maker, sold more than a quarter of a million units in June, beating the record it set just a month earlier in the latest sign that a recovery in mainland China’s battery-powered car industry is on a solid footing, reports the South China Morning Post. The Shenzhen-based carmaker […]