Business

China's Selfie App Meitu Eyes $710M IPO

Charissa Echavez   | Dec 02, 2016 10:51 PM EST

China's selfie app Meitu is eyeing to bag in between $632 million and $710 million on its first initial public offering (IPO) in Hong Kong, the company said on Friday. read more

China to Change Policies for Stabilizing Coal Prices

S. Rina   | Dec 03, 2016 07:23 AM EST

Thermal coal saw wild swings in its prices this year. The prices surged earlier this year after Chinese government's announcement to curtail coal production by reducing operating days. The price level for Australian coal touched $100 a ton, the highest price in past four and a half years. read more

Baidu Introduces AI Technology to Boost Cloud Usage

Staff Reporter   | Dec 02, 2016 11:32 PM EST

Chinese internet behemoth Baidu launched its new Artificial Intelligence platform. The announcement was made at an industry summit held in Beijing on Wednesday. The new platform is available for commercial users including businesses and developers. Baidu is looking to grow its foothold in cloud computing and big data segment. read more

China Shows Strong Manufacturing Activity in November

S. Rina   | Dec 03, 2016 06:24 AM EST

China followed the global trend and recorded robust manufacturing activity in the month of November. The country showed better than expected performance as the manufacturing sector grew at the fastest pace in more than two years. read more

Carlyle-Citic in Advanced Talks to Acquire McDonald's China Assets: Report

Girish Shetti   | Dec 02, 2016 06:36 AM EST

A joint consortium led by American private-equity firm Carlyle Group and state owned Chinese investment company Citic Group Corp are reportedly nearing a deal to acquire McDonald's Corp's assets in China and Hong Kong for $3 billion. read more

Empire Farmstead Brewery to Bring 'Two Dragons' 'I Love New York' Beer to China

Charissa Echavez   | Dec 02, 2016 02:45 AM EST

A Syracuse-brewery, which is producing an officially licensed "I Love New York" beer, is set to test Chinese netizen's taste for beer in 2017. read more

Obama Set to Block China's Takeover Deal of Aixtron: Bloomberg

Charissa Echavez   | Dec 02, 2016 12:49 AM EST

US President Barack Obama will reportedly block China's Grand Chip Investment GmbH from acquiring Germany's Aixtron SE, sources with knowledge about the matter told Bloomberg. read more

China Introduces 10% Tax Increase on 'Super Cars'

Steve M.C.   | Dec 01, 2016 09:59 AM EST

China, in a bid to curb expensive way of life by the wealthy community and control pollution, has introduced a 10% tax on cars which cost more than 1.3 million yuan ($189,000) that is to come into effect on Thursday. read more

Uber China Departs from Global App

Ellie Froilan   | Dec 01, 2016 09:14 AM EST

Didi Chuxing has rolled out an update that abandons Uber officially, requiring foreign Uber users visiting the country to download a separate app. read more

Baidu to Extend Mapping Service for Growing Chinese Tourists

Ellie Froilan   | Dec 01, 2016 10:46 PM EST

Baidu has announced its massive expansion for its map service, adding 106 new countries on the list read more

China Collaborates with Australia's CSIRO for Concentrated Solar Power Technology

S. Rina   | Nov 30, 2016 08:49 AM EST

Chinese company Thermal Focus has inked a new deal with Australia-based Commonwealth Scientific and Industrial Research Organization (CSIRO) to develop, sell, and install CSIRO patented concentrating solar thermal generation technology. read more

Air for Sale: The New Business Venture in China?

Steve M.C.   | Dec 01, 2016 12:16 AM EST

When they say the best things in life are free, air isn't one of these things, or so according to Beijing residents. read more

Intel Teams Up with Mobileye, Delphi to Create Self-Driving Cars

Phenny Lynn Palec   | Nov 30, 2016 08:09 AM EST

With the PC market’s current decline, Intel is looking for other outlets of business. The chipmaker recently established the Automated Driving Group, a new division that will develop technologies for autonomous driving cars. read more

Alibaba's YunOS Dethrones Apple iOS in China

Ellie Froilan   | Nov 30, 2016 07:39 AM EST

Alibaba’s own operating system YunOS is taking over Apple’s iOS to become the second-largest mobile operating system in China. read more

Lincoln Continental Makes a Grand Debut in China’s Luxury Car Market

Girish Shetti   | Nov 29, 2016 11:26 PM EST

China's luxury car market has just got hotter, with Lincoln launching its flagship brand Lincoln Continental in Chinese market. What is so special about this launch is that China is the only third country in the world where the flagship brand has been launched, the other two being United states and Canada read more

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