Business

Tesla Dismisses Alleged Plan to Build a Factory in Guangdong, China

Prei Dy   | Apr 10, 2017 11:22 AM EDT

Tesla has brushed reports that it plans to set up a factory in China's Guangdong province. read more

China’s Technology Giant Tencent is World’s 10th Biggest Firm

Carlene Vision   | Apr 10, 2017 07:28 AM EDT

China's technology and gaming giant, Tencent, has been proclaimed as the world's 10th biggest company, surpassing America's financial magnate, Wells Fargo. In 2016, Tencent's stocks rose by to up to 43 percent higher than the previous year, and ultimately yielded a market value of more than $279 billion. read more

China's JD.com to Open 150 Drone Delivery Operation Sites by 2020

Prei Dy   | Apr 10, 2017 04:27 AM EDT

Chinese e-commerce giant JD.com revealed on Thursday its plan to build 150 operation sites for unmanned aerial vehicle delivery in the southwestern province of Sichuan. JD.com CEO Richard Liu said the airports are expected to open in 2020. read more

Ford’s Ranger Pickup Trucks to hit Chinese Roads in 2018

Girish Shetti   | Apr 09, 2017 07:17 AM EDT

U.S. auto giant Ford Motor is set to unveil its best seller F-series pickup trucks for the Chinese market in 2018. With this move, Ford is apparently trying to cash in on the Chinese government's recent relaxation on the use of pickup trucks in urban areas across the country. read more

Volkswagen Reposes Faith in China With Investment in AI Start up

Girish Shetti   | Apr 07, 2017 06:40 AM EDT

The Volkswagen Group China has invested US$180 million in series D round of funding in Mobvoi, a Chinese artifical intelligence (AI) start up firm that was founded in 2012 by a Google research scientist. read more

Alipay Becomes Available in Italy with UniCredit Partnership

Ellie Froilan   | Apr 07, 2017 06:08 AM EDT

Alipay has formed a new partnership with Italy's UniCredit to make the Chinese payment service available in the European country. read more

Huawei Wins Copyright Lawsuit Against Samsung Mobile

Girish Shetti   | Apr 06, 2017 08:22 AM EDT

A Chinese local court on Thursday ordered Samsung Mobile to pay hefty fine to Huawei Technologies in a copyright infringement case. The verdict marks Huawei's first victory against its South Korean rival in a copy infringement case. read more

ChemChina-Syngenta $ 43 Deal Gets a nod from EU Regulators

Girish Shetti   | Apr 06, 2017 02:23 AM EDT

ChemChina on Wednesday crossed the major hurdle in its quest of the $ 43 billion takeover of the Syngenta AG, after the high profile deal got the nod from European Union regulators. read more

U.S. Pulls Out ZTE from Trade Blacklist

Ellie Froilan   | Apr 06, 2017 02:20 AM EDT

The United States Department of Commerce's Bureau of Industry and Security has removed ZTE from its so-called Entity List or a trade blacklist. read more

China was the Largest Importer of U.S. Crude Oil in February: Report

Girish Shetti   | Apr 05, 2017 12:17 PM EDT

China became the largest importer of U.S. crude oil in the month of February, surpassing the traditional buyer Canada. The news comes at a time when President Donald Trump's administration is busy laying the groundwork to launch a massive trade war against China. read more

Limited Cherry Coke Cans With Warren Buffett's Face Debut in China

Ellie Froilan   | Apr 04, 2017 03:59 AM EDT

Billionaire Warren Buffett has announced that he will be working with Coca-Cola to launch Cherry Coke in China. read more

Hyundai and Kia Motors China Sales Suffer due to THAAD Tension: Report

Girish Shetti   | Apr 04, 2017 03:39 AM EDT

The THAAD impasse continues to take a toll on South Korean companies operating in China. The latest to bear the brunt is Hyundai Motors and its sister company Kia Motors, which has been forced to cut down on its production target in the Chinese markets due to a slump in sales. read more

New Special Economic Zone in the Outskirts of Beijing Leaves Real Estates Prices Soaring

Girish Shetti   | Apr 03, 2017 01:29 PM EDT

China has announced that it will develop a special economic zone (SEZ) in one of the sleepy districts of Hebei province. This new SEZ, which will be located nearly 100 kilometers away from capital Beijing, is expected to revitalize the sluggish economy and minimize the burden on the over-populated city. read more

Mobike Joins Tencent to Bring Bike-Sharing Service to Chinese WeChat Users

Ellie Froilan   | Apr 03, 2017 05:46 AM EDT

Mobike Technology Co. Ltd has announced its deepened strategic partnership with Tencent, tapping the 889 monthly active users of WeChat app. read more

China’s Energy Giant CEFC to Acquire 20 Percent Stake in Brokerage Firm Cowen Group

Girish Shetti   | Mar 31, 2017 06:18 AM EDT

Chinese conglomerate CEFC China Energy has announced its plan to buy a 20 percent stake in the American financial services Cowen Group for $100 million. Both companies have described the deal as part of the "long-term strategic investment." read more

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