Prominent Chinese billionaires, including Lenovo group founder Liu Chuanzhi, and the President of Didi Chuxing, Liu Qing have cleared their Weibo accounts and only made content from the last six months visible, local media reported. Weibo is a Chinese microblogging platform and is widely used in China as an alternative to Twitter, which is inaccessible in … Read more
Chinese e-commerce giant Alibaba Group Holding Ltd recorded 540.3 billion yuan ($84.54) billion in orders, or “gross merchandise value” (GMV), over its 11-day Singles’ Day sales event, marking a roughly 14% increase from the year prior. The results come as overall consumption in China slows, and cap a relatively muted version of a sales festival … Read more
Without making big national headlines, China’s Gland Pharma launched the biggest initial public offering (IPO) of shares in Indian pharmaceutical history of Rs 6,500 crore in November. This was oversubscribed more than twice, despite calls for boycotting everything Chinese after the Ladakh clash last summer when 20 Indian soldiers died. Gland Pharma’s issue price was … Read more
By Shuli Ren Jack Ma is a very busy man. China’s richest man has been busy launching the world’s biggest IPO. He has been busy preparing for Alibaba Group Holding Ltd.’s grandest four-day Double Eleven shopping extravaganza. And yet two weeks ago, Ma somehow found the time to opine on China’s banking system at a … Read more
By Julia Fioretti, Lulu Yilun Chen and Abhishek Vishnoi Jack Ma’s Ant Group has a narrow window to make its much-anticipated market debut ahead of U.S. election turbulence. Now its bankers must grapple with any potential delays stemming from a debate in Washington over restrictions on the payments behemoth. Discussions over how and whether to … Read more
BEIJING: A businessman who spun his wealth from bottled water and vaccines has usurped tech tycoon Jack Ma as China‘s richest man, the Bloomberg Billionaires Index showed Thursday. Nongfu Spring founder Zhong Shanshan‘s net worth has hit $58.7 billion after a massive listing by the bottled water company in Hong Kong earlier this month. This … Read more