It appeared as if the entire US ecosystem was threatened by and working together to reject a digital pathogen. That said, the TikTok ban never came to fruition. The social media platform has only grown since then, becoming an integral part of American popular culture...
Chinese smartphone giant Xiaomi on Thursday launched its much-awaited first electric vehicle (EV) – the SU7, short for Speed Ultra – at a venue in Beijing close to its car manufacturing facility, pricing the standard model at 215,900 yuan (US$29,867) to take on Tesla’s Model...
United States Treasury Secretary Janet Yellen is expected to consult American companies on China’s industrial overcapacity, particularly in solar power and electric vehicles (EVs), at a planned meeting during her trip to China next week – a discussion that is likely to inform the tone...
Sun Art Retail Group, controlled by Alibaba Group Holding, has appointed a new chief executive as the e-commerce giant continues to consolidate its retail assets amid a restructuring and rising market competition.Hong Kong-listed Sun Art, an online hypermarket business, said in a stock exchange filing...
BYD, the world’s largest electric-vehicle (EV) maker, is targeting a 20 per cent increase in sales this year, just a third of last year’s tally, as overcapacity concerns and a price war loom over the sector in mainland China.Wang Chuanfu, the Shenzhen-based carmaker’s chairman and...
The Hong Kong Monetary Authority (HKMA) on Thursday announced a set of measures designed to support small and medium-sized enterprises (SMEs), offering them reassurance about access to credit relief amid market rumours of loans being called early.The nine points issued by the city’s de facto...
Alibaba Group Holding’s international e-commerce platform AliExpress is betting on a European market breakthrough by sponsoring this year’s European Football Championship, or Euro 2024, a move that comes after its rival Temu cracked the US market through ads that ran in the Super Bowl.AliExpress is...
And it is more than 20 per cent below cost, meaning the flagship developer of tycoon Li Ka-shing will make a significant loss on the inaugural batch.“CK Asset’s pricing is very likely to put selling price pressure on other projects atop Wong Chuk Hang station,”...
The CNSA estimated this e-commerce segment was already worth hundreds of billions of dollars on the mainland. The state-run body reports to the National Radio and Television Administration (NRTA), China’s broadcasting regulator. 02:50China’s live-streaming industry heats up as millions of would-be hosts vie to break into...
This partly explains why the government has stepped up support for the crisis-ridden housing market. Beijing has intensified pressure on banks to assist vulnerable developers, cut mortgage rates to stimulate demand and provided low-cost financing to the urban village renovation and affordable housing programmes.It also...