Page 3 - Chinese Tech Firms

Asian shares rise by 0.4% as hopes for audit deal boost Chinese tech

Asian shares rose on Friday, buoyed by news of possible progress for China and the United States to hammer out an audit deal, while traders anxiously awaited a speech from Federal Reserve Chair Jerome

Alibaba lays off nearly 10,000 employees to cut expenses amid poor sales

According to South China Morning Post, more than 9,241 employees left Hangzhou-based Alibaba during the June quarter, as the company trimmed its overall headcount to 245,700.

Chinese tech firms pledge to ban NFTs, cryptocurrency marketplaces

Chinese internet and tech giants on Monday signed an initiative to ban cryptocurrency and digital collectibles (NFTs), along with a promise not to establish secondary marketplaces.

Chinese tech firms forced into 'blood listings' as capital dries up

Public offerings at slashed valuations could translate into losses for venture capitalists in late funding rounds

Karnataka HC permits Xiaomi India to take overdrafts, make payments

Senior advocate S. Ganeshan argued that Xiaomi India was being targeted as it is a Chinese company and other companies are allowed to make payments of technology royalty

Tech meltdown: China's $1.9-trillion stock rout has no end in sight

Chinese tech shares are particularly vulnerable in an environment where investors are shunning risk

China wipes $26 billion off Meituan's value with new fee policy

Online food delivery platforms were also told to give preferential fees to restaurants in regions hit by the pandemic

Chinese tech stocks plunge on Tencent Holdings sale, fine on Alibaba

The Hang Seng Tech Index fell 4.6%-the most since July-in a third straight day of declines

Alibaba Group Holding has lost $344 billion in world's biggest wipeout

Despite a 30 per cent recovery from Oct. 5, the stock is still 43 per cent lower than its October 2020 peak.

Top ByteDance investor to weigh $500-million stake sale during crackdown

The US investment firm sought to sell the stake at a price that valued ByteDance north of $400 billion, but it was unsuccessful and has since lowered the offer

Jack Ma leaves China for first time after Alibaba crackdown

Ma is abroad for a series of business meetings, including a tour of the agricultural industry and environmental technology in Spain

Xi Jinping vows tighter oversight of tech firms, digital economy

Xi vowed to "correct" practices that harm the interests of the masses and hinder fair competition

China will continue curbing tech monopolies: Central bank chief

The central bank will work with anti-monopoly authorities to prevent firms from abusing dominant market positions and actively deal with new monopoly problems

China drafts new data measures; technology stocks fall over 1%

Thursday's draft measures describe in detail three categories of data - ordinary data, important data, and core data

Tencent bows to regulator, opens WeChat to rival application links

Tencent had restricted users from sharing content from Douyin. In Feb, Douyin filed a complaint at a Beijing court saying this was monopolistic behaviour

Xi Jinping clears action on everything, from monopolies to pollution

Xi in particular stressed the importance of strengthening anti-monopoly regulations, a push that has already cost tech giants hundreds of billions of dollars in market value

China regulator swoops on algorithms in latest tech clampdown

In China, state media have accused companies of using algorithms to pressure people into purchases and promotions

China's crackdown on tech firms opens short window for Indian starts-ups

Beijing's decision to crack down on its tech start-ups has opened a window of opportunity for domestic start-ups, but it could close soon too

Country now comes before profit for tech giants in Xi Jinping's China

President Xi Jinping has increasingly emphasized the idea of "common prosperity" as the Communist Party tries to address the country's wealth gap

China investigates top government official of Alibaba's home city

Hangzhou Municipal Party Committee Secretary Zhou Jiangyong, 53, has been placed under investigation for serious violations of party discipline and state law