Shanghai Tag

14 Mar TikTok owner ByteDance acquires stake in memory chip firm InnoStar to bolster VR unit Pico as it takes on Apple’s Vision Pro

Posted at 11:00h in Asia

Picoheart, a Singapore-based affiliate of ByteDance, earlier this month invested an undisclosed amount to acquire a 9.5 per cent shareholding in state-backed InnoStar, which is headquartered in Shanghai, according to data from company registry information provider Qichacha.That investment was made “in hopes of utilising the...

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12 Mar Apple to expand applied research labs in Shanghai and Shenzhen as iPhone sales weaken in world’s largest smartphone market

Posted at 11:30h in Asia

Apple is enlarging its applied research operations in mainland China, as the US technology giant’s iPhone sales slow in the world’s largest smartphone market amid increased competition from Huawei Technologies and other major domestic handset vendors.Cupertino, California-based Apple plans to expand its research centre in...

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08 Mar Matthews shuts Shanghai office as it joins asset managers Vanguard and Van Eck in retreating from China

Posted at 08:41h in Asia

Asset manager Matthews International Capital Management is closing its Shanghai office, adding to the list of global firms that have cut back in mainland China.The San Francisco-based company will centralise its regional research business in Hong Kong and remains committed to conducting China analysis, it...

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06 Mar Alibaba said to lead new financing round for Chinese AI firm MiniMax that would value the start-up at over US$2 billion

Posted at 00:00h in Asia

Shanghai-based MiniMax, which was founded in 2021, is in the process of raising new funding that would value the company at more than US$2 billion, another investor with knowledge of the matter said. The two investors requested anonymity because they are not authorised to speak...

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20 Feb China’s new financial regulator pledges transparency to bring investors back from the brink

Posted at 22:00h in Asia

China’s new financial regulator has made fresh pledges to increase regulatory transparency, stability and predictability, the latest of several attempts to restore investor confidence following a stock meltdown and high-profile personnel changes.The country will benchmark its financial policies against international rules and reduce restrictive measures...

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20 Feb Tech war: SMIC, Huawei projects among top government-supported endeavours in 2024

Posted at 10:00h in Asia

Semiconductor Manufacturing International Corp (SMIC) and Huawei Technologies, two key players in Beijing’s efforts to defeat US sanctions on advanced chips, are among the country’s top recipients of local government funding this year, according to published government documents.In Shanghai, 16 out of 191 major projects...

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12 Feb Shanghai’s commercial property landlords face pressure to lower rents, help tenants’ businesses amid weak consumer sentiment

Posted at 01:30h in Asia

Owners of commercial properties in Shanghai are under pressure to cut rents to support restaurants and retailers facing the daunting task of sustaining their businesses amid lacklustre consumer demand. Shopping centres and retail outlets based in the city’s non-central business district (CBD) areas are likely...

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07 Feb China, wary of stock market downturn, appoints new regulatory chief

Posted at 10:17h in Asia

China has appointed Wu Qing – a capital markets veteran – to head the nation’s securities watchdog, an appointment that will place a cumulative US$11 trillion in value under his supervision as one of several measures laid down by Beijing to blunt a downturn.Wu, who...

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01 Feb Ant Group inks strategic partnership with Shanghai to help the city’s AI ambitions

Posted at 11:00h in Asia

Ant Group and the Shanghai municipal government have struck a partnership that would see the two parties deepen their collaboration in fields such as blockchain and artificial intelligence (AI).Under the partnership, Ant Group, the Alibaba Group Holding fintech affiliate, will “actively participate in building [an]...

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31 Jan China property: Suzhou, Shanghai and Guangzhou ease home-buying restrictions as policy support gathers pace

Posted at 08:30h in Asia

China’s measures to boost the nation’s troubled housing market are trickling down to the provincial and city levels, with more cities relaxing curbs to buy property.Suzhou, Shanghai and Guangzhou are the latest cities to ease home-buying restrictions, joining more than 30 municipal governments...

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