Apple Inc. may have paid millions of U.S. dollars to China’s Huawei for patent licensing last year, according to data released by China’s State Intellectual Property Office and estimates made by Tencent Technology. The Chinese company licensed 769 patents to Apple while Apple’s licensed patent to Huawai was 98 in 2015. The numbers were made […]
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Venture-backed Le Vision Pictures, one of many affiliated companies of LeEco, is not going public and will be bought by its parent company instead. Shenzhen-listed Leshi Internet Information & Technology Corp. plans to acquire its film production and distribution unit Le Vision Pictures, Ltd. for RMB9.8 billion (US$1.51 billion) in a cash-and-stock deal, according to […]
Following the strong growth in March which was distorted by a low base last year, exports rose 4.1% year-on-year and imports declined 5.7% in RMB terms in April, according to data from China’s customs bureau. The headline growth rates look poorer than last month, but when looking at values of trade, it was not too […]
China’s securities regulators are reportedly suspending re-listings of U.S.-listed Chinese companies that have been privatized and seeking a float on domestic exchanges, according to Chinese media reports. Any privatized Chinese companies might face tougher restrictions on back-door listings, reorganizations and initial public offerings on domestic exchanges. The news hit companies that are in the process […]
Ant Financial Services Group, the financial services arm of Alibaba Group Holdings Ltd., has hired Douglas Feagin, a New York-based managing director at Goldman Sachs, to be the unit’s senior vice-president, according to media reports. The appointment of Feagin, who worked at Goldman for 21 years most recently serving as head of Financial Institutions Group […]
The U.S. dollar has depreciated by more than 7% in nominal effective terms since its peak in November 2015. It is favorable for the RMB as it helps to reverse the pressure on capital outflows and allows the Chinese government to launch further monetary easing to support the economy, says a research report by Mizuho […]
Residential mortgage loans in negative equity has increased 1,400% during the first quarter in Hong Kong compared to the previous quarter, as housing prices dropped 11% since last October, according to data released by the Hong Kong Monetary Authority. The case of mortgage loans in negative equity remains small in the city, at 1,432 currently, […]
China’s official manufacturing Purchasing Managers’ Index (PMI) edged down to 50.1 in April from 50.2 in March, slightly lower than market consensus of 50.3. New orders and production eased in April after a strong rebound in March from previous months, while other sub-indices also softened. The softer PMI reading in April might be a tell-tale […]
Amor Flora, a Chinese online flower ordering and delivery firm listed on China’s New Third Board today, revealed in its prospectus that it had faked orders and revenues over the past two years, in a rare public acknowledgement of a practice known to be prevalent among Chinese companies. From 2013 to July 2015, Amor Flora […]