Huawei may be facing a virtual sales ban in the United States, due to alleged security concerns, but that hasn’t stopped the Chinese company from launching tests of its 5G wireless technology just north of the border in Canada. On Wednesday, Huawei unveiled an urban trial of 5G wireless-to-the-home services in Vancouver, in partnership with Canadian carrier Telus. The trial is believed to be the first of its kind in North America. “This trial represents continued progress toward the launch of 5G, …
Chinese tech giant Baidu Inc. has formally proposed listing its online-video unit iQiyi in the U.S. in an initial public offering likely to value the company at up to US$10 billion.
Alibaba Group Holding Ltd. will invest around RMB5.45 billion (US$865 million) for a 15% strategic stake in Beijing Easyhome Furnishing Chain Store Group Co., Ltd. as part of its "New Retail" business model, the company announced Sunday.
Cryptocurrency issuer Ripple has got its foot in the door of the Chinese market by signing a partnership agreement with LianLian International, a Hong Kong-based payment services provider. The deal comes despite the Chinese government’s ongoing efforts to shut down cryptocurrency trading and transactions in that nation.
Cheetah Mobile Inc., a Beijing-based mobile internet company listed on the NYSE, has release a mobile cryptocurrency wallet app called SafeWallet. It’s the latest example of how Chinese companies are cashing in on the digital money boom, despite China’s ban on cryptocurrency trading and initial coin offerings (ICOs).
China can expect to see a rising number of bond defaults in 2018, including the likelihood of a first ever default by a local government financing vehicle (LGFV), according to a report by S&P Global Indices.
China’s successfully cloning of two long-tailed macaques may raise ethical concerns given the potential for the technology being used one day to clone humans. But for the scientists involved, it marks a milestone in China’s multi-billion dollar effort to rival the U.S. and the European Union in biomedical research. It also makes good business sense.
It’s not often that the U.S. imposes steep tariffs on imports and Chinese companies get to celebrate. But that’s exactly what’s happened when Donald Trump announced a 30% import tariff on solar energy panels today.
Nvidia Corp. has been on a Chinese deal-making binge over the last few months, especially related to autonomous vehicles. In August, the U.S. graphics chip maker led a series B round in TuSimple, an autonomous truck technology startup with offices in Beijing and San Diego. Under the agreement, Nvidia acquired a 3% stake in TuSimple, which in turn will use Nvidia’s artificial intelligence computing platform for self-driving vehicles, Drive PX 2, in its trucks. In September, Nvidia participated in a …
Jia Yueting, the founder of troubled Chinese technology conglomerate LeEco, has been placed on a national list of defaulters after failing to comply with a court order related to unpaid debts, according to Chinese media reports.
Lu Wei, the former head of China’s powerful Internet regulator, the Cyberspace Administration of China, is under investigation for suspected corruption, according to statements (in Chinese) issued by the ruling Communist Party’s disciplinary agency.
The U.S. investment ambitions of Canyon Bridge Capital Partners took a serious blow on Monday with the indictment of its founder Benjamin Chow on insider trading charges related to its failed acquisition of U.S. chip maker Lattice Semiconductor Corp. However, Chow’s legal crisis didn’t stop Chinese-government-backed Canyon Bridge from easily winning shareholder approval to acquire British chip design company Imagination Technologies Group Plc. on Tuesday. The duel pieces of news underscore the risk and opportunities for Chinese investors overseas. While …
RISE Education, a Chinese provider of after-school English lessons which is backed by Bain Capital, enjoyed a strong debut on the Nasdaq Friday, closing up more than 14% on its first day of trade. The stock closed at US$16.61, compared to its initial public offering (IPO) price of US$14.50. RISE’s IPO was well received, demonstrating investors’ continued interest in China’s fast-growing education sector. The company raised US$160 million by offering 11 million shares at US$14.50, higher than the expected price …
Faraday Future, the U.S.-based electric car startup founded by embattled Chinese entrepreneur Jia Yueting, today announced they have signed a lease for a future manufacturing facility for their high-performance electric, autonomous vehicle, named the FF91. But the new facility is not outside glitzy Las Vegas, as originally planned, but in Hanford, California, a hard-scrabble agricultural town roughly half way between San Francisco and Los Angeles.
Despite being an export powerhouse, Chinese products have largely been run-of-the-mill stuff like cloth, shoes and toys. Change is on its way, however, and it’s coming on two wheels in the form of bike sharing.
For years, New Zealand has been a go-to country for Chinese importers looking for wine and cheese, and tourists looking for pristine nature. Now China’s investors, and government, are shopping for New Zealand’s technology, especially in the areas of aviation, artificial intelligence and cloud computing. That interest will be highlighted by next week’s official visit to New Zealand by China’s Premier Li Keqiang, along with the recent announcements of commercial investments worth hundreds of millions of dollars. The attraction for …
Faraday Futures, the mysterious Los Angeles-based electric car company backed by Chinese billionaire Jia Yueting, has a new chief executive officer, according to a recent filing with the State of California submitted by the company. The CEO does not play a management role and has limited automobile industry experience, but work for the entertainment company owned by Mr. Jia, Faraday’s biggest investor.
Alibaba Group Holding’s results for the quarter ended December 31, 2016 show that the Chinese online commerce giant continues to grow at an impressive rate, with total revenue of RMB53.2 billion (US$7.7 billion), an increase of 54% year-over-year. Revenue from its core e-commerce business, however, increased at a more moderate 42% year-over-year, while the company’s strongest revenue growth came from non-core businesses such as cloud computing and media and entertainment.