Xi Jinping has grasped a fundamental truth in his quest to win the technology race – that internet companies are all ultimately disposableThis is story of two parallel universes. Over in the western one, neoliberal capitalism rules. In the other – the …
Shares in China property giant Evergrande suspended pending ‘major transaction’
Trading halt sends markets Asian stocks falling amid speculation the debt-laden group will sell off its property management arm Trading in shares of debt-laden China Evergrande was suspended by the Hong Kong exchange on Monday after the enormous Chine…
‘Eerie silence’ as Evergrande misses payment deadline
As debt-laden Chinese property giant enters 30-day grace period, officials look to limit unrest and job lossesThe embattled Chinese property developer Evergrande is inching closer to the potential default that investors fear, after missing an interest …
Property market rocked as giant Evergrande struggles to repay $300bn debts
Shares in Hong Kong-listed firm slump 10% and bond trade suspended amid fears for shaky Chinese real estate marketShares in the embattled Chinese property giant Evergrande have slumped again after two credit downgrades in two days amid concerns that it…
The party’s over: China clamps down on its tech billionaires
The startling rise to wealth of the nation’s entrepreneurs has been an affront to Beijing’s political philosophy and increasingly, a threat to the communist partyIn a Politburo group study session on 23 November 2015, China’s president, Xi Jinping, rec…
Chinese president vows to ‘adjust excessive incomes’ of super rich
Chinese Communist party to crack down on almost weekly creation of billionaire company bossesChina’s president has vowed to “adjust excessive incomes” in a warning to the country’s super-rich that the state plans to redistribute wealth to tackle wideni…
FTSE 100 falls as miners hit by China slowdown concerns – business live
Rolling live coverage of business, economics and financial markets as Cobham and Ultra agree deal and Meggitt pushes ahead with Parker Hannifin buyoutWeak Chinese data set negative tone across Europe’s main stock marketsFTSE 100 down 0.7%, but Ultra an…
WeChat’s youth mode is illegal, says lawsuit, as China steps up attack on Tencent
The messaging app does not comply with laws protecting children, say prosecutors, in fresh crackdown on tech firms Prosecutors in Beijing have initiated a civil lawsuit against a subsidiary of Tencent, saying the “youth mode” on the company’s popular …
Tencent curbs on gaming time will shock markets but please many parents
China’s regulators are on the march again but moves to restrict children’s access may be welcomed by manyChina’s Tencent tightens games controls for childrenChina’s regulators are on the march again, pushing one of the country’s most valuable technolog…
Chinese takeover of UK’s largest computer chip maker ‘may be blocked’
Post-Brexit trade advisor Tony Abbott ‘heartened’ by review into takeover of Newport Wafer FabBoris Johnson may block a Chinese-owned company from purchasing the UK’s largest producer of semiconductors, a senior government adviser has suggested, as the…