Business News
Latest business news and updates
Total: 749
Chery Enters Electric Pickup Race with RELY R08 EV, Backed by an Energy-and-Services Alliance
Chery’s RELY brand launched its first pure‑electric pickup, the R08 EV, priced at RMB 127,800–158,800 and offered in two trims. The company also formed a “Qilin Power Ecological Alliance” to integrate energy supply, smart‑agriculture tools and engineering equipment, underscoring a shift toward vehicle‑plus‑services strategies in the electric pickup market.
Tether’s Quiet Gold Grab: Crypto Firm Eyes a Central‑Bank‑Like Role in the Bull Market
Tether has been buying physical gold at a rate reportedly exceeding one tonne per week, positioning itself as one of the largest private holders of bullion and signaling an ambition to operate like a central bank in the gold market. CEO Paolo Ardoino says the company will keep reinvesting profits into gold and compete with banks on bullion trading, while warning that geopolitical rivals may pursue gold‑backed currency alternatives.
When a ‘Turnkey’ Road Becomes a Debt Marathon: How a Sichuan Highway Project Exposed Re‑survey Risks and Platform‑Company Debt Tactics
A decade‑old turnkey highway link in Ziyang has produced a cascade of unpaid bills, about 52 lawsuits and an at‑risk private contractor after competing geotechnical reports, subsequent criminal convictions, and a controversial re‑survey that was later rebranded as a "consultation". The dispute highlights systemic risks in how local platform companies manage legacy debts and could set a dangerous precedent for overturning long‑standing technical findings.
Beijing Orders 2026 Tax Overhaul to Boost Local Budgets and Expand Social Insurance
China’s tax authority has announced a 2026 push to deepen tax reform, expand legally authorised local taxes and strengthen social insurance through national pension pooling, provincial medical insurance coordination and accelerated long‑term care pilots. The package aims to stabilise local finances and broaden welfare coverage, but implementation choices will determine the economic and political trade‑offs.
Indonesia Market Halts as MSCI Freeze and Governance Concerns Trigger 8% Rout
Indonesia’s stock benchmark fell 8% to 8,261.79 on January 28, triggering a 30‑minute trading halt after MSCI paused index adjustments over concerns about concentrated shareholdings. The local index provider froze new constituents and actions that would increase tradable shares, heightening concerns about governance, liquidity and foreign capital flows.
Foshan’s Hydrogen-Bus Gamble: Subsidies Buy an Industry Cluster — Not Always Service on the Road
Foshan invested heavily in hydrogen fuel‑cell buses to foster a local hydrogen industry, buying roughly 1,000 vehicles and supporting refuelling infrastructure. High fuel costs, falling ridership and limited fiscal space have left many buses parked after they reach subsidy thresholds, exposing the gap between industrial demonstration and operating economics.
Gaotu’s Growth Gambit Falters: Losses Narrow but Compliance, ESG and Product Troubles Threaten Recovery
Gaotu reported narrower losses in 2025 despite strong revenue growth, but repeated regulatory penalties, poor after-sales service, employee welfare controversies and underperforming new ventures have left the company’s turnaround fragile. Its diversification into livestreaming, sports, esports and AI has yet to generate sustainable profits, while weak ESG disclosure and compliance lapses heighten execution risk.
Hong Kong IPO Boom: Food‑and‑Drink Retailer 'Mingming Hen Mang' Surges After Nearly 1,900x Retail Demand
Mingming Hen Mang, a China food‑and‑beverage retailer with nearly 20,000 stores, saw its Hong Kong shares jump about 88% on debut after retail investors oversubscribed the public offering 1,899.49 times and institutions bid 44.44 times in the placing. The listing highlights strong investor appetite for large domestic retail chains but raises questions about valuation sustainability and the economics of a rural‑heavy store footprint.
Sudden Walkouts at HuaAn Fund Expose Deep Talent and Strategy Strains
Two high-profile, abrupt departures of senior equity managers at HuaAn Fund have exposed weaknesses in the firm’s talent retention, product strategy and risk governance. The exits, characterised by one-time clearance of all managed funds, come as HuaAn’s active-equity assets have materially contracted despite overall AUM growth.
Dollar Slides, Gold Rockets Past $5,000 as Markets and Beijing Gear Up for a Diplomatic-Economic Thaw
A sharp dollar decline, amplified by comments from a US political figure, propelled gold and silver to record levels even as the S&P 500 closed at a new high. Simultaneously Beijing prepares for a high-profile UK prime ministerial visit, rolls out drug-regulatory reform and contends with mixed domestic signals—falling real-estate lending, rising semiconductor prices and tighter futures oversight—that together shape China’s near-term economic trajectory.
China’s Auto Rise Goes Global: BYD Targets Korea as Europe’s Old Guard Holds Ground
BYD is stepping up its overseas offensive with plans to launch at least three models in South Korea and a target of over 10,000 sales, reflecting a broader trend of Chinese automakers expanding globally. Despite rising volumes and strong EV adoption, China’s auto industry faces thin profit margins and intensifying competition from established international groups such as Stellantis.
After a 67% Crash, China’s ‘Medicine Maotai’ Gets a Vote of Confidence — But Is It Enough?
Pianzaihuang’s controlling shareholder will buy CNY 300–500m of A‑shares after the stock plunged 67% from its 2021 high. The company is reporting its first sustained revenue and profit declines in years, with cash flow collapsing and inventories ballooning, signaling a structural slowdown in the appetite for its premium products.