China’s home-built passenger plane, rival to Boeing’s 737 Max, to join China Eastern Airlines fleet this year
China Eastern Airlines became the first company to officially buy the C919, China’s home-built narrow-body passenger plane.
Business & Technology
Chinese companies going global. Global companies capitalizing on the size and growth of the China market. State-owned enterprises. Policy-based state investment. Startup unicorns with Chinese characteristics. There is no shortage of business stories to tell in China.
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Two Chinese military suppliers to merge to counter U.S. sanctions
Two military technology suppliers, China Electronics Technology Group (CETC) and SOE Potevio, will merge amid U.S. sanction pressures and Beijing’s push for state-owned enterprises reforms.
WeDoctor plans to file for long-rumored Hong Kong IPO
After a COVID-fueled online healthcare boom in 2020, JD Health and Ping An Good Doctor both raked in the cash on the Hong Kong Stock Exchange. The Tencent-backed WeDoctor will reportedly follow them in listing its healthcare businesses as soon as next month.
China’s digital currency goes global as domestic trials expand
The People’s Bank of China leads the world in digital currency pilots, and now the virtual yuan is going global.
China looks set to legalize GMO seeds and encourage agricultural technology
Beijing has a plan to “revitalize” rural communities that focuses on food security, including the use of smart agriculture and, possibly, GMO seeds, which are currently banned in most circumstances.
China curbs online lending, forces tech firms to pay more
Ant Group and other fintech lenders will need to pay $30 for every $100 it issues under new rules as Chinese regulators tighten requirements for online lending and control on financial risks.
Cancer screening firm New Horizon raises $263 million in Hong Kong IPO
China’s leading early cancer screening biotech firm New Horizon nearly tripled on its IPO day in Hong Kong. The company makes China’s first and only approved early cancer screening test kits.
Ecommerce giant JD.com to spin off another company with logistics arm IPO in Hong Kong
JD.com, China’s second-biggest ecommerce group after Alibaba, is to launch its third public listing: JD Logistics has filed for a Hong Kong IPO.
TikTok and Douyin combined top the world of in-app purchases
TikTok and its Chinese version Douyin are the world’s most lucrative apps aside from games when it comes to in-app payments, and advertising revenue in the U.S. is exploding as the Biden administration declines to enforce previous bans.
Chinese box office breaks record despite pandemic shadow
Chinese filmgoers are crowding into theaters to watch domestic movies as moviemakers around the world are on pandemic pause.