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The Latest Breaking News on China tech

Shanghai Composite Index Fell 0.77% on Friday

Shenzhen Component Index closed down 1.61%

Caixin Global

China’s top tech dealmaker Bao Fan goes missing

The billionaire investment banker is unreachable, according to the investment bank he founded.

Al Jazeera

Shanghai Composite Index Fell 0.96% on Thursday

Shenzhen Component Index closed down 1.3%

Caixin Global

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Online Grocer Dingdong Posts First-Ever Quarterly Profit After Slashing Costs

The turn to profitability also comes with the demise of former archrival Missfresh, which in July shuttered its mainstay instant-delivery retail business

Caixin Global

Shanghai Composite Index Fell 0.39% on Wednesday

Shenzhen Component Index closed down 0.25%

Caixin Global

Chinese cameras leave British police vulnerable to spying, says watchdog

Warning in surveillance commissioner’s report comes after Chinese CCTV cameras banned from government property

The Guardian - UK

Developer Seazen Loses Contact With Co-President Qu Dejun

Executive who hasn’t been seen in public since Jan. 16 is said to be cooperating with authorities probing matters related to his career at Wanda Group

Caixin Global

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Shanghai Composite Index Fell 0.3% on Friday

Shenzhen Component Index closed down 0.59%

Caixin Global

Little-noticed US funding for China tech sector now draws scrutiny

WASHINGTON — Even as Washington takes a hard line on keeping U.S. technology and data beyond China’s reach, the federal government has thus far been slow to close another channel of technology assistance: potentially billions of dollars in U.S. investment in Chinese tech startup companies.

Tribune News Service

Chinese e-retailer JD.com leaving Thailand, Indonesia

Chinese online retailer JD

The Independent UK

China to take ‘golden shares’ in tech firms Alibaba and Tencent

Move marks shift in focus by Beijing as it tries to extend influence and keep sector in check

The Guardian - UK

TikTok's Efforts to Distance Itself From Chinese Parent Stumble Over Talent

TikTok has accelerated efforts to move workers away from China in an attempt to distance itself from its Chinese parent, but the short-video app still counts on local talent to handle some key functions and continues to recruit there.

Bangkok Post

Douyin Accused of Foul Play Over World Cup 4K Streaming Rights

Court orders ByteDance’s popular short video app to remove ads promoting its 4K live streaming after a China Mobile subsidiary complained

Caixin Global

Cross-Border E-commerce Trader Zibuyu Files for IPO Despite Sinking Profits

Key Takeaways: Cross-border e-commerce company Zibuyu has filed for a Hong Kong IPO, but could be undermined by its heavy reliance on Amazon and the U.S. market The company’s first-half profit plunged 46% as its merchandise return rates and costs both rose sharply By Stone Shek

Benzinga

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The Guardian - UK

Beijing-backed Chinese language schools in UK to be replaced with teachers from Taiwan

MPs in talks with Taiwan to help phase out Confucius Institutes as relations between the countries worsen

The Independent UK

China grants gaming license to NetEase, 1st since crackdown

China has granted a game license to its second largest gaming firm, NetEase, the first in over a year in a possible sign Beijing may be easing a crackdown on the industry

Benzinga

Alibaba, Baidu Slide Over 3% As Wall Street Horror Spreads To Hong Kong Stocks: Report Sparks Fears Of US-China Tensions Over Taiwan

Hong Kong shares plunged on Wednesday, taking cues from a heavy sell-off on Wall Street triggered by higher-than-expected U.S. inflation for August. Shares of Alibaba, Baidu, and JD.com fell over 3%, with the benchmark Hang Seng Index losing over 2.3%.

Bangkok Post

Lazada ready for push into Europe

Lazada is preparing to make its first foray into Europe, building on the success of the Alibaba-owned e-commerce platform in Southeast Asia, as it seeks to take on rivals such as Amazon.com and Zalando.

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USA Today Sports Media Group

Tencent and Sony increase stake in Elden Ring studio FromSoftware

Both companies have collectively bought over 30 percent of the studio behind Dark Souls, Sekiro, and Elden Ring.

Benzinga

ATRenew Sees Better Times Ahead in Evolving Role as 'Recycler for All Seasons'

Key Takeaways: ATRenew forecast 30% year-on-year revenue growth in the current quarter, as its business starts to rebound from a sharp slowdown caused by China’s strict Covid control measures

Benzinga

Is Tencent Winding Down Its Big Investments?

Key Takeaways: Reuters reported Tencent might sell some or all of its Meituan holdings this year, though Tencent called the report ‘inaccurate’ Some think Tencent might sell other stakes in its more than 70 U.S.- and Hong Kong-listed portfolio companies to raise funds to buy back its shares By Fai…

Benzinga

Livestream Gamer DouYu Edges Ahead in Cost-cutting Battle

Key Takeaways: DouYu’s revenues fell by around 22% in the second quarter, but the company broke a six-season losing streak with an adjusted net profit of 23.50 million yuan Huya’s revenue tumbled 23% in the same period, and it barely eked out an adjusted net profit after slashing costs By…

Benzinga

Miniso Gets Dressing Down in Online Brouhaha

Key Takeaways: Miniso’s shares are down 17% since it was accused of mislabeling a Chinese-clothed doll as Japanese, and more broadly of trying to hide its Chinese roots The attack represents a relatively unique risk faced by both foreign and domestic companies doing business in China By Doug Young

Manchester Evening News

Bride orders Shein budget £45 wedding dress and is stunned when she puts it on

The bride-to-be was astonished when she saw her wedding pictures

The Guardian - UK

Chinese firm Miniso apologises for Japanese branding after outcry

Consumers complained the homeware and electronics company was not supporting its national roots

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