Month: February 2024
Xpeng Hires 4000 People, Expands to New Markets
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…]
Largest Cut to Key Mortgage Rate Since 2019
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…]
Scores of Chinese Stocks Removed From MSCI Index
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…]
New Yuan Bank Loans Hit Record High
Chinese banks granted a record number of new loans in January demonstrating Beijing’s attempts to stabilise development in the second-largest economy in the world. At [more…]
Alibaba Sees Small Revenue Growth, Increased Buybacks
During the October–December period, Alibaba Group Holding Ltd. had a 5% YoY growth in sales, but a 77% YoY decline in net profits. Alibaba announced that, [more…]
SMIC to Begin Production of Huawei 5nm Processor
Semiconductor Manufacturing International Corp (SMIC), the biggest chipmaker in China, is about to start mass producing new-generation 5-nanometer chips that Huawei developed. SMIC intends to make [more…]
