Business

LeEco to Open 1K Retail Stores in India by December 2017

Ellie Froilan   | Sep 27, 2016 03:01 AM EDT

LeEco plans to open 1,000 retail stores in India by December 2017 with the goal of expanding its reach and developing a strong brand recall. read more

Air Canada to Launch Non-Stop Montreal-Shanghai Flights in 2017

Charissa Echavez   | Sep 26, 2016 11:08 PM EDT

Air Canada will launch its first non-stop trans-Pacific service from Montreal to Shanghai, China, next year. read more

China's Dalian Wanda Group in Early Talks to Acquire Hollywood's Dick Clark Productions

Charissa Echavez   | Sep 26, 2016 09:55 PM EDT

China's Dalian Wanda Group, owned by billionaire Wang Jianlin, is in preliminary talks to purchase Dick Clark Productions, which is reportedly valued at $1 billion. read more

China's Shanhai Capital to Acquire U.S. Chipmaker Analogix Semiconductor for $500M

Charissa Echavez   | Sep 26, 2016 08:42 PM EDT

Following a number of high-profile attempts to acquire a U.S. semiconductor maker, recent news reveals that Beijing Shanhai Capital Management offered a takeover bid to chip maker Analogix Semiconductor in a deal worth more than $500 million. read more

Goldman Sachs to Cut Workforce in Asia by 30%: Reports

Charissa Echavez   | Sep 26, 2016 07:30 AM EDT

Goldman Sachs is going to axe up nearly 30 percent of its 300 investment banking teams in Asia outside of Japan, sources familiar with the matter told Reuters. read more

Chinese State Media Raises red Flag as Telecom Companies Shift Manufacturing to India

Girish Shetti   | Sep 26, 2016 10:27 AM EDT

With several Chinese telecom companies shifting their manufacturing base to India, China's state-owned Global Times newspaper has expressed concern that this development could result in severe job losses. The warning comes as the Indian government intensifies its effort to attract Chinese investment under its ambitious Make-in-India project. read more

China's Didi Chuxing Invests in Bike-Sharing Startup Ofo

Charissa Echavez   | Sep 26, 2016 07:00 AM EDT

China's ride-hailing app Didi Chuxing announced on Monday it has invested "tens of millions of dollars" in Chinese bike-sharing startup called ofo. read more

Toyota to Call Back 762 Imported Vehicles in China

Charissa Echavez   | Sep 25, 2016 09:20 PM EDT

Japanese car maker Toyota will call back 762 imported vehicles in China from Nov. 1 because of faulty airbags, according to the country's quality watchdog. read more

Tencent Doubles Charity Contribution, Donates 2% of Profit

S. Rina   | Sep 25, 2016 10:05 PM EDT

Tencent has pledged to donate two percent of its annual profit to charity. read more

To Challenge Walt Disney, Dalian Wanda Inaugurates $5.1 Billion Tourism park in Hefei city

Girish Shetti   | Sep 24, 2016 11:22 PM EDT

Dalian Wanda Group, the Chinese conglomerate that has interest in real estate and entertainment, inaugurated the first phase of Hefei Wanda City on Saturday. The first phase of the tourism park in the eastern city of Hefei that focuses mainly on outdoor recreation. read more

IBM China and China UnionPay’s Block Chain Pilot Project Successfully Completed

Girish Shetti   | Sep 24, 2016 10:55 PM EDT

IBM China on Friday said it has completed a pilot project with Chinese credit card company China UnionPay that will help different banks to share loyalty bonus points and help credit card companies to increase customer loyalty. read more

India Plans to Lure Chinese Companies to ‘Make in India’

Girish Shetti   | Sep 24, 2016 10:44 PM EDT

India is planning to woo Chinese MNCs engaged in electronic manufacturing and textiles for its ambitious Make in India project. Indian government plans to showcase India as an attractive investment destination with cheap labour and improved economic climate to lure Chinese firms. read more

Fitch Reveals That China may Have a '$2 Trillion Black Hole' in its Economy

S. Rina   | Sep 24, 2016 02:15 PM EDT

International rating agency Fitch has released a report indicating that the Chinese economy may be riddled with toxic loans worth 10 times the official estimates. The report further indicated that resolving the issue may lead to a capital shortfall worth $1.1 to $2.1 trillion, constituting 11 to 20 percent of the Chinese economy. China is currently rated as A+ by Fitch Ratings. read more

China's Lufax in Talks with 4 Investment Banks for Hong Kong IPO: Sources

Girish Shetti   | Sep 23, 2016 10:29 PM EDT

Lufax, China's biggest peer-to-peer lending platform, is holding talks with four investment banks for taking a key role in its planned IPO in Hong Kong Stock Exchange, people familiar with the matter told Reuters. read more

FountainVest Raises $2.1B for Third China Fund

Charissa Echavez   | Sep 23, 2016 04:28 PM EDT

FountainVest Partners has raised $2.1 billion for its most recent China-focused private-equity fund, FountainVest China Capital Partners Fund III. read more

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