Huawei Technologies’ net profit rose 564% to 19.65 billion yuan ($2.71 billion) in the first quarter, according to a regulatory statement by its parent firm. [more…]
In March, China’s exports of passenger cars reached a record-breaking 406,000 units, up 39% YoY. Of those, almost 120,000 were new-energy vehicles (NEVs), which equates [more…]
China’s economy exceeded forecasts in the first quarter, with a 5.3% annual growth in GDP, fueled by robust exports and manufacturing investment. Reduced domestic demand [more…]
Tencent, the giant Chinese internet company, announced a 10% rise in revenue in 2023, bringing in a total of 609 billion yuan ($86 billion). The [more…]
Alibaba cancelled its intended Hong Kong initial public offering (IPO) for its logistics division, Cainiao. Alibaba intends to pay up to $3.75 billion for Caniao [more…]
More than 100,000 reservations have been made for the SU7, the first electric car from Chinese manufacturer Xiaomi. Customer test drives of the car will [more…]
There is intensifying competition in China’s cloud computing market as several large Chinese competitors have announced price reductions on their primary offerings. Alibaba Cloud, the [more…]
Xpeng, a producer of electric vehicles (EVs), has announced dealer agreements in a further five nations, extending its global reach beyond Israel and Europe. With [more…]
China has lowered its prime loan rate for five-year loans by 25 basis points, to 3.95%, which is the biggest decrease since 2019. By lowering the [more…]
MSCI is removing dozens of Chinese companies from its global benchmarks following a broad market decline. The index provider deleted 66 Chinese stocks from the indexes, the [more…]