Former Alibaba CEO quits cloud unit in surprise move amid landmark restructuring
Daniel Zhang, the outgoing chairman and CEO of Alibaba, has stepped down from his position running the company's cloud division in a surprise move announced just months after he assumed the pivotal role.
2023-09-11 16:53
How booming Vietnam offers the US an alternative to China
President Joe Biden is in Vietnam for a visit intended to deepen economic ties between Washington and Hanoi as part of efforts to reduce America's reliance on China.
2023-09-11 12:58
Norway's $1.4 trillion investment fund is shutting its China office
Norges Bank Investment Management (NBIM), which operates the world's largest sovereign wealth fund, has started the process of closing down its office in Shanghai, in another sign of big global companies pulling back operations in the world's second largest economy.
2023-09-08 16:15
Xi's expected G20 no-show may be part of a plan to reshape global governance
When the world's most powerful leaders descend on New Delhi this weekend to address the multiple crises facing the world, notably absent will be China's Xi Jinping, who has never missed a G20 summit since taking power in 2012.
2023-09-08 13:27
China's exports and imports fall again in August as demand slumps
China's exports fell by 8.8% in August year-on-year, while imports contracted 7.3%, customs data showed on Thursday, increasing pressure on the country's vast manufacturing sector as demand sags at home and abroad.
2023-09-07 12:45
China's biggest homebuilder just dodged default. It faces a rocky road ahead
Chinese property giant Country Garden has twice narrowly avoided defaulting on its debt in a matter of days. But it's not home free.
2023-09-06 17:49
Country Garden dodges default by making last minute debt payments, state media reports
Country Garden, the embattled Chinese real estate firm, made late interest payments on two US dollar bonds shortly before the end of a 30-day grace period, avoiding an imminent debt default, according to multiple state media reports.
2023-09-05 15:22
China's services activity falls in August to its lowest level in eight months
A private survey of business activity in China's services sector fell to its lowest level in eight months in August, as a flurry of economic stimulus measures seemed unable to reignite consumption demand.
2023-09-05 12:46
Moutai coffee, anyone? Luckin is adding the fiery liquor to its lattes
Luckin Coffee has joined forces with Kweichow Moutai, the maker of China's fiery national liquor baijiu, for an unusual offering: alcoholic lattes.
2023-09-04 19:56
Country Garden gets 'near-term reprieve' after bondholders agree to extend debt payment
Investors in embattled Chinese property giant Country Garden are breathing a collective sigh of relief Monday, after it reportedly won approval from creditors to extend a major bond payment to avoid default, in a development that analysts say will give the firm some badly needed respite.
2023-09-04 14:52
Taiwan billionaire Terry Gou resigns as Foxconn board member amid bid for presidency
Billionaire businessman Terry Gou has resigned from the board of directors of Foxconn, the world's largest electronics manufacturer, days after announcing his bid for Taiwan's presidency.
2023-09-03 10:18
South Korea needs more babies and workers. It's hoping foreign housekeepers will fix that
As South Korea struggles to get young people interested in marriage and kids, authorities are trying a new tack: importing foreign workers to carry some of the household burden.
2023-09-02 07:47