“Everyone, from the top brass to people like us in middle ranks, earn less than before,” said a credit manager with Bank of China, one of the country’s “big four” state-owned banks, lamenting the loss of the staggering bonuses that she used to bag in...
Swiss agrichemicals and seeds giant Syngenta Group has withdrawn its application for a listing in Shanghai amid mainland China’s slowing equities market, dashing hopes for one of the largest share sales this year in the country’s commercial hub.The Shanghai Stock Exchange said it had terminated...
Despite instructions from President Xi Jinping to resume the trading of central government bonds, China’s central bank is expected to take a cautious approach to mitigate unexpected consequences for inflation and the exchange rate, analysts said.At the twice-a-decade financial work conference, held last October, Xi...
“There are two parts of growth here,” Fernandes said. “One is new cities, but the bigger one for me is to provide direct connectivity from the smaller cities.“Your smaller cities are still very big for us.”AirAsia, founded in 2001 by Fernandes with two aircraft, offers...
Xiaomi has got off to a racing start in the country’s crowded electric vehicle (EV) market, after saying it sold around 50,000 vehicles within half an hour of the launch of its new model, the SU7.The Chinese smartphone and gadget maker, which has been competing...
The fund will underpin promising start-ups in the fields of artificial intelligence, biotechnology and semiconductors, and is expected to attract more technology firms to Shanghai, the municipal government said in a statement on Friday.The local state-owned assets watchdog will be responsible for the fund’s establishment...
Avant Meats, a cultivated seafood company that started life in Hong Kong, is planning a 30-fold expansion in its capacity to make sustainable seafood for global markets after positive response from consumers at a recent tasting event.Global fishing practices have resulted in nearly 90 per...
Chinese stocks rose, on track for a second straight month of gains, led by state-owned banks which rose on steady earnings reports. Investors remain watchful ahead of official PMI data due this weekend, which is expected to show manufacturing activity improved after contracting for five...
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...
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...