Beijing
Billionaire founder of China’s JD.com steps down as CEO as Beijing’s tech crackdown continues
Richard Liu, the founder of Chinese e-commerce giant JD.com, will step down from his role as CEO. His departure comes after a number of high-profile technology founders exited their leadership positions amid Beijing’s regulatory crackdown on its domestic tech sector. VCG | Visual China Group | Getty Images JD.com’s billionaire founder Richard Liu has stepped […]
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U.S.-listed Chinese stocks jump after China reportedly considers sharing company audits
A security personnel stands guard at the opening session of Baidu’s annual AI developers conference Baidu Create 2019 in Beijing, China, July 3, 2019. Jason Lee | Reuters New York-listed Chinese stocks jumped Friday after a report that China is considering sharing key information that would allow the firms to continue trading publicly in the […]
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Citi raises its forecast for China’s GDP growth, bringing it closer to the official target
Real estate and related sectors account for at least 25% of China’s economy, according to Moody’s. Costfoto | Future Publishing | Getty Images BEIJING — China’s economy faces so much new pressure from Covid that Beijing may increase stimulus — boosting overall growth, Citi said Thursday. “Given the strong start of the year and the […]
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EU to pressure China at virtual summit over its stance on Russia-Ukraine war, sources say
President of the European Commission Ursula von der Leyen delivers a statement in Brussels. Kenzo Tribouillard | AFP | Getty Images The European Union wants to put pressure on China to be neutral with its stance over Russia’s recent invasion of Ukraine, sources with knowledge of the matter told CNBC ahead of a virtual meeting […]
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Tencent quarterly profit surges 60% despite slowest revenue growth on record
Tencent’s twin-skyscrapers at Shenzhen Bay Start Up Plaza in Nanshan business district. Nikada | Getty Images Tencent reported its slowest quarterly revenue growth on record in the fourth quarter of 2021 as the Chinese technology giant continues to feel the impact of Beijing’s regulatory tightening on the domestic technology sector. However, the company posted a […]
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Xi ‘can’t stomach doing something that might make Putin look bad,’ says political analyst
China does not want to take a position on Ukraine that could undermine Russia, said Scott Kennedy of the Center for Strategic and International Studies, a Washington-based think tank. It doesn’t appear that Beijing has provided any military assistance or violated the economic sanctions on Russia, he said. “But they’ve not said no. And I think what […]
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China says Xi and Biden’s two-hour call focused on the need for peace in Ukraine
A screen shows Chinese President Xi Jinping attending a virtual meeting with U.S. President Joe Biden via video link, at a restaurant in Beijing, China November 16, 2021. Tingshu Wang | Reuters WASHINGTON — President Joe Biden held a nearly two-hour phone call on Friday morning with Chinese President Xi Jinping to discuss Russia’s invasion […]
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China says it wants to steer clear of U.S. sanctions over Russia’s invasion of Ukraine
Chinese Foreign Minister Wang Yi attends a press conference in Beijing, China on March 7, 2022. Li Xin | Xinhua News Agency | Getty Images China’s foreign minister, Wang Yi, says Beijing wants to avoid being impacted by U.S. sanctions over Russia’s war with Ukraine. “China is not a party to the crisis, nor does […]
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