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Chinese Regions to Hand Out USD39 Million in Vouchers for Labor Day Holiday
2+ hour, 33+ min ago (255+ words) (Yicai) April 29 -- Multiple Chinese cities and provinces will dish out vouchers worth more than CNY284 million (USD41. 5million) to spur consumption over the upcoming five-day Labor Day break. Around 13, 700 cultural and tourism events will be held nationwide during the holiday that starts May…...
Gold Price Holds Near USD4, 700 as Central Banks Split on Buying Strategy
17+ hour, 6+ min ago (443+ words) (Yicai) April 28 -- Spot gold prices in London have been fluctuating around USD4, 700 per ounce in recent sessions as the world's central banks, once bullish big buyers of the precious metal, begin to diverge in their strategies, adding a new layer of…...
[Opinion] Swings in China's Trade Surplus May Add Uncertainty to Yuan's Exchange Rate
1+ day, 16+ hour ago (882+ words) Yicai Global (Yicai) April 27 -- From the perspective of market expectations around the exchange rate, the recent decline in China's trade surplus has both positive and negative implications for the yuan. If the market interprets the decline in the trade surplus…...
Chinese Regulators Block Meta's Acquisition of AI Startup Manus
20+ hour, 47+ min ago (509+ words) (Yicai) April 28 -- Regulatory authorities in China have stopped US tech giant Meta's acquisition of Manus, a Singapore-based artificial intelligence startup founded by Chinese entrepreneurs. The Office of Working Mechanism for the Security Review of Foreign Investment under the National Development…...
China's Xizhi Tech Pops in Hong Kong Trading Debut After Becoming World's First AI Optical Computing Firm to Go Public
21+ hour, 18+ min ago (353+ words) (Yicai) April 28 -- Shares of Xizhi Technology, also known as Lightelligence, surged on their first day of trading in Hong Kong, with the Chinese company becoming the world's first artificial intelligence optical computing solutions developer to go public. Xizhi Tech [HKG:…...
[Opinion] Will Hungary Remain Gateway for Chinese Investment Into EU With New Government?
22+ hour, 44+ min ago (271+ words) (Yicai) April 28 -- The Tisza Party led by Peter Magyar won the election with a two-thirds absolute majority in the Hungarian parliament on April 12, ending the 16-year rule of Viktor Orb'n's Fidesz Party. The new government now faces important tasks: unlocking…...
Auto Parts Suppliers Expand into Humanoid Robot and Embodied Intelligence Businesses
22+ hour, 51+ min ago (550+ words) (Yicai) April 28 --As more and more carmakers venture into the humanoid robot industry, their suppliers are following suit in exploring the related component business. Several auto part suppliers, including Aptiv, Versigent, Valeo, and Horizon Robotics, are showcasing their latest embodied…...
China's Be One Eyes Global Rights to Huahui Health's Pre-Clinical Cancer Therapy
22+ hour, 14+ min ago (334+ words) (Yicai) April 28 --Be One Medicines, the Chinese biopharmaceutical giant previously known as Bei Gene, plans to acquire the global rights to a pre-clinicalcancer therapy candidate developed by Chinese biotechnology startup Huahui Health. Be One's subsidiary Guangzhou Be One Medicines Biopharmaceutical…...
Metro China Appoints Sam's Club's Ex-Country President as Executive Chairman
21+ hour, 45+ min ago (348+ words) (Yicai) April 28 -- Metro has appointed Andrew Miles, former president of Sam's Club China, as executive chairman of the German'membership-only'retailer's Chinese arm. Miles, who also previously served as chief operating officer of Sam's Club China and deputy chief executive for the…...
China's Economy Exceeded Expectations in Q1
23+ hour, 55+ min ago (966+ words) (Yicai) April 27 -- The data recently'released by China's National Bureau of Statistics (NBS) showed that the economy made a surprisingly good start in the first quarter. GDP grew by 5 percent year-over-year, beating market'expectations of 4. 8 percent growth.' The composition of growth in…...