Month: November 2023
China Factory Activity Contracted in November, Overall Activity Sees Expansion
In November, China’s manufacturing activity shrank for a second straight month, according to a National Bureau of Statistics official survey. The manufacturing sector’s official purchasing [more…]
Shein Seeks to Go Public in US IPO
Chinese fast-fashion company Shein has submitted an initial public offering (IPO) application to a securities regulator in the United States. The company, which was recently [more…]
China ETFs See Record Inflows
According to mutual fund firm China Asset Management Co (ChinaAMC), China’s exchange-traded funds (ETFs) have experienced an annual net inflow of over 400 billion yuan [more…]
PDD Holdings Earnings Beat Estimates by Nearly Double
PDD Holdings, an online retailer well-known for providing cheap prices on its Pinduoduo and Temu apps, announced a 94% increase in Q3 2023 revenue to [more…]
Saudi Arabia and China to Commence 50 Billion Yuan Swap Line
China and Saudi Arabia have strengthened their relationship by signing a $7 billion local currency swap agreement, as more Middle Eastern nations move their trade away [more…]
Alibaba Cancels Plan for Cloud Unit Spinoff
Alibaba Group Holding has declared that it would not move forward with a full spin-off of its cloud computing unit. Citing US export limitations on [more…]
Xiaomi SU7 Car Images Released
Chinese carmaker Xiaomi filed an application to produce its first electric vehicles (EVs), releasing the first pictures of the business’s automotive venture. A branch of [more…]
Didi Posts First Profit Since 2021 As it Plans Hong Kong IPO
Didi Global Inc. has posted its first profit since 2021 suggesting a steady recovery in the ride-hailing market in China. Revenue increased 25% to 51.4 billion [more…]
Xiaomi Sets 11.11 Record of $3.11 Billion in Sales
Xiaomi claimed record sales across all platforms during the Singles Day shopping festival. The company broke the annual promotion record selling more than 22.4 billion [more…]
Baidu Replaces Nvidia with Huawei for AI Chips
Chinese internet behemoth Baidu has placed an order for artificial intelligence chips from Huawei rather than its regular supplier, Nvidia, signalling a significant departure from [more…]
