The Beijing-based company reported US$36 billion in first-quarter sales, beating analysts’ estimates.
Temu often fails to provide consumers with crucial information about the sellers on its platform and safety standards of products, according to the complaint.
Saudi Arabia’s Public Investment Fund and Michael Burry’s Scion Asset Management increased their holdings of Chinese large caps, while Singapore’s Temasek reduced its stock holdings.
France is Xpeng’s tenth European market and comes after launches in Spain and Portugal last month. It will market the G9 and G6 SUVs and will also set up a sales and service network with local distributors.
Kingland Systems is closing its first subsidiary outside the US and sacking its entire local workforce, sources say.
Chinese electric vehicle (EV) maker Nio plans to stay on the sidelines amid a bruising price war in the sector, even after it launched a new mass-market brand to target budget-conscious consumers.
Hong Kong stocks rally continues after China unveils more property support measures with gains supported by hopes the Federal Reserve will start cutting interest rates later this year.
Facilities capable of producing 70,000 to 100,000 tonnes of green methanol from leftover food will be ready by the end of 2025, Shi Pingyang, vice-president of Shenergy, told reporters on Wednesday.
Nio has launched a new electric vehicle brand – Onvo – targeted at China’s cost-conscious middle-income consumers amid fierce competition in the world’s largest EV market.
About 20 million consumers on the mainland are expected to take part in the nationwide trade-in programme via JD.com’s platform.
Bridgewater Associates, the world’s biggest hedge fund slashed its holdings drastically in the first quarter in a move may have been too hasty and caused it to miss out on the recent bull run.
ByteDance’s aggressive pricing for its Doubao large language model family shows the increased opportunity in mainland China, where more firms are scrambling to adopt GenAI tools.
Alibaba Group Holding’s primary dual listing in Hong Kong could open the doors for China’s 210 million investors to buy a stake in the US$400 billion behemoth.
Chinese smartphone maker Xiaomi has become the country’s eighth-largest EV upstart after selling more than 7,000 units of its SU7 sedan in April, according to industry data.
Mainland China stock markets are on the back foot after US-China trade tensions rose following increased tariffs on imports of Chinese semiconductors, electric vehicles, steel and batteries.
Enhanced mechanism set to boost international investors’ confidence in the onshore bond market and further internationalise the yuan, according to industry experts.
A carbon trading system that promotes tighter supply and higher prices can induce China’s cement makers to undertake costly investment, Ian Riley of World Cement Association says.
US President Joe Biden also gives his action a political edge, criticising Donald Trump, his predecessor and challenger for re-election, for failing to increase US exports and boost manufacturing.
Asian Investors represented more than 17 per cent of qualified foreign investor activity on the Saudi Exchange’s main market in the first quarter.
Foxconn reported a net profit of US$679 million in the first quarter, which missed analysts’ average estimate of US$897 million.
Alibaba net income rose 10 per cent to US$11 billion in the 2023 financial year, the first annual results since co-founder Joe Tsai took over as chairman.