Evergrande shares in China tumble as business crashes | Real estate news

The deal fails as the debt-ridden property developer faces the impending payment deadline for bonds. The shares of China Evergrande Group, the most heavily indebted real estate developer in the world’s second largest economy, fell as much as 14 percent as they resumed trading on the Hong Kong Stock Exchange after a two-week suspension. The … Read more

The real estate sector has to shrink in order to be stable, says Prof

China’s real estate sector needs to become “much smaller” in order to keep the overall economy healthy and stable, said a top expert on the Chinese housing market. “We have too great a risk in the industry. We have built too many apartments, so stabilization has to come first” [from] trim the sector, “Li Gan, … Read more

Alibaba shares rise after Jack Ma shows up in Europe, new chip release

Jack Ma, founder of Alibaba Group, will attend the opening ceremony of the 3rd All-China Young Entrepreneurs Summit on September 25, 2020 in Fuzhou, Fujian Province. Lyu Ming | China News Service via Getty Images GUANGZHOU, China – Alibaba’s shares in Hong Kong rose as much as 9% on Wednesday after its founder Jack Ma … Read more

Alibaba expands cloud business overseas with new data centers in Asia

Zhang Jianfeng, President of Alibaba Cloud Intelligence, speaks during the opening ceremony of Alibaba Renhe Cloud Data Center on September 16, 2020 in Hangzhou, China’s Zhejiang Province. Qian Chenfei | China Intelligence Service | Getty Images GUANGZHOU, China – Alibaba plans to open its first data centers in South Korea and Thailand in 2022 as … Read more

According to the China Beige Book, the Chinese economy lacks new growth drivers

China’s slowdown in the real estate sector is affecting economic growth – and it’s not clear that there are new growth drivers to cushion the slack, said the executive director of a China-focused research firm. “The greatest risk to the future is that, as the party is deliberately …, the party said CNBC’s Squawk Box … Read more

Alibaba launches new server chip to boost its cloud business

Signage at the headquarters of Alibaba Group Holdings Ltd. in Hangzhou, China, on Wednesday, March 24th, 2021. Qilai Shen | Bloomberg | Getty Images GUANGZHOU, China – Chinese e-commerce giant Alibaba launched a new server chip on Tuesday to boost its cloud computing business and compete against US rivals like Amazon. The processor called Yitian … Read more

The chaos in the supply chain is affecting global growth and could get worse

Trucks parked in the Port of Los Angeles in Los Angeles, California, United States on Wednesday, October 13, 2021. Kyle Grillot | Bloomberg | Getty Images Thanks to the introduction of coronavirus vaccines, the global economy is slowly starting to recover from the pandemic. But Covid-19 has left a very destructive economic problem: disrupting global … Read more

China’s central bank says Evergrande is unique and most real estate developers are stable

An exterior view of the China Evergrande Center in Hong Kong, east China, March 26, 2018. Bobby Yip | Reuters BEIJING – The People’s Bank of China said Friday that indebted property developer China Evergrande was a separate case and that most real estate companies in the country are stable. Real estate giant Evergrande has … Read more

Microsoft closes LinkedIn in China under examination

LinkedIn enables people to use personal and professional relationships to find jobs. (File) New York: Microsoft announced on Thursday that it would close the career-oriented social network LinkedIn in China, citing a “challenging operating environment” as Beijing tightened control over technology companies. According to senior vice president of engineering Mohak Shroff, the US-based company will … Read more

Why China Could Beat Tesla On Its Own EV Game Soon – Bloomberg Quicktake

Why China Could Beat Tesla in Their Own EV Game SoonBloomberg quick start Tesla China’s new king: Model Y overtakes Model 3 in SeptemberTeslarati China’s NEV sales continue to risewww.electrive.com Tesla introduces its new crash safety technology, which is based on collecting data from the real worldElectrek The founder of the Lunchbox Museum by Columbus … Read more