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Taiwan, U.S. to hold long-stalled trade talks next week
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com sentiment -0.96   time to read: +2 min
TAIPEI (Reuters) - Taiwan and the United States will hold trade talks next week, the de facto U.S. embassy in Taipei said on Friday, resuming long-stalled discussions as Washington seeks to deepen its support for the Chinese-claimed island. FILE PHOTO: Flags of Taiwan and U.S. are placed for a meeting in Taipei, Taiwan March 27, 2018. The Office of the U.S. Trade Representative and Taiwan’s Office of Trade Negotiations will serve as the “chief consultants” for the talks, it added. Taiwan had been cautiously optimistic about resuming the high level trade talks with Washington this year after U.S. Secretary of State Antony Blinken signalled a possible resumption this month. While Taiwan is a member of the World Trade Organization, many countries are wary of signing trade deals with the tech powerhouse fearing objections from China, though Taiwan does have free trade deals with Singapore and New Zealand.
Persons: Tyrone Siu, Barack Obama, Donald Trump’s, Robert Lighthizer, Brent Christensen, Hsiao, , Antony Blinken, Biden Organizations: U.S, REUTERS, Tyrone Siu The Trade, American Institute, U.S . Trade, Taiwan’s, Trade, World Trade Organization, New Zealand, Washington Locations: TAIPEI, Taiwan, United States, Taipei, Washington, U.S, China, Beijing, Singapore, New
U.S. and Taiwan Set Date to Revive Trade and Investment Talks
  + stars: | 2021-06-25 | by ( Chao Deng | ) www.wsj.com sentiment -0.96   time to read: +1 min
TAIPEI—The U.S. will revive trade and investment talks with Taiwan next week in a move intended to draw Washington and Taipei closer that also is likely to irk Beijing. The de facto U.S. embassy in Taipei, the American Institute of Taiwan, said Friday that its director, Brent Christensen, and Taiwan’s representative in the U.S., Bi-Khim Hsiao, will convene a meeting by videoconference Wednesday with participants from the Office of the U.S. Trade Representative and Taiwan’s trade office. An announcement was anticipated after Secretary of State Antony Blinken said earlier this month that Washington planned to engage with Taiwan soon on trade, without sharing a timeline. The two sides will engage under a trade and investment framework first signed in 1994. Such agreements create the basis for recurring dialogue on trade issues, and sometimes serve a precursor to full-fledged free-trade agreements.
Persons: Brent Christensen, Hsiao, Antony Blinken, Ministry didn’t Organizations: Taiwan, U.S, American Institute of, U.S ., videoconference, U.S . Trade, Taiwan’s, Ministry Locations: TAIPEI, The U.S, Washington, Taipei, Beijing, American Institute of Taiwan, U.S, Taiwan
HK stocks end higher on tech, materials boost; post weekly gains
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com sentiment -0.98   time to read: +2 min
** The Hang Seng index ended up 405.76 points or 1.4% at 29,288.22. The Hang Seng China Enterprises index rose 1.88% to 10,878.45. ** Leading the gains, the Hang Seng tech index and the Hang Seng materials index climbed 2.4% and 3.3%, respectively. ** The sub-index of the Hang Seng tracking energy shares rose 1.7%, while the IT sector rose 3.1%, the financial sector ended 0.75% higher and the property sector rose 0.18%. ** The top gainer on the Hang Seng was Meituan, which gained 4.76%, while the biggest loser was Sunny Optical Technology Group Co Ltd, which fell 1.58%.
Persons: HSI, Jerome Powell, Biden Organizations: HK, Shanghai, Stock, Seng China Enterprises, Optical Technology, Co, Hong, U.S . House, Representatives Foreign, Silicon Industry Locations: Shanghai, China, Hong Kong, U.S, Beijing, Xinjiang
Didi's $4 billion U.S. IPO fully covered - sources
  + stars: | 2021-06-25 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: 1 min
FILE PHOTO: A man is seen under a Didi logo at the headquarters of Didi Chuxing in Beijing, China November 20, 2020. REUTERS/Florence Lo/File PhotoHONG KONG (Reuters) - Didi Global Inc’s initial public offering (IPO) to raise up to $4 billion in the United States has been covered on the first day of its bookbuild, according to four sources with direct knowledge of the matter. The sources could not be named as the information has not yet been made public. Didi did not immediately respond to a request for comment.
Persons: Didi Chuxing, Florence, Didi Global, Didi Organizations: REUTERS, KONG, Reuters Locations: Beijing, China, United States
Why is there a water pit? When the race was modernized, the walls were simulated with hurdles and the rivers and creeks were simulated with the water pit. According to the IAAF, the modern 3,000-meter steeplechase track event — with the barriers and the water pit — first originated at Oxford University in the mid-19th century. Today, the race features five barriers: four hurdles plus the barrier before the water pit. The water pit, meanwhile, is 12 feet long for both.
Persons: Kai Pfaffenbach, it's Organizations: Business, Service, IAAF, Oxford University, Reuters Locations: Rio, United Kingdom, Beijing
Football fans watch UEFA Euro 2020 Championship Group A match between Wales and Switzerland at a pub on June 12, 2021 in Shanghai, China. The month-long Euro 2020 soccer tournament, which began June 11, was postponed from last year due to the pandemic. In 2018, Alipay agreed to an eight-year partnership that included Euro 2020 and Euro 2024. For Euro 2020, Alipay's deal includes displaying English and Chinese-language versions of its subsidiaries. China's fan baseAnother Chinese company looking to profit from the tournament is iQiyi, which acquired the online live streaming rights for Euro 2020.
Persons: Chen Yuyu, Pierre Justo, Hisense, Alipay, Ant, Lingxiao Yu, Kantar's Justo, Douyin Organizations: UEFA, Visual China, Getty, Union of European Football Associations, Gazprom, Volkswagen, FedEx, Alibaba, Associated Press, Financial Times, CNBC, Volvo, Heineken, iQiyi, CCTV, Weibo, Twitter, ByteDance Locations: Wales, Switzerland, Shanghai, China, BEIJING, UEFA European, Europe, Qingdao, Shandong province, France, Germany, Spain, Russian, Brazil, TikTok
John Lee, Hong Kong's secretary for security, speaks during a news conference on Thursday, Jun. Chan Long Hei | Bloomberg | Getty ImagesChina on Friday promoted Hong Kong's top security official to the territory's No. Chief Executive Carrie Lam said Secretary for Security John Lee would replace Matthew Cheung as the city's chief secretary, while police chief Chris Tang would take over Lee's role. China effectively ended multiparty democracy in Hong Kong by having the ceremonial Chinese legislature impose the national security law without debate or a vote in the city's Legislative Council. In recent months, police have arrested most of the city's pro-democracy activists.
Persons: John Lee, Hong, Chan Long Hei, Carrie Lam, Matthew Cheung, Chris Tang, Hong Kong's, Jimmy Lai Organizations: Bloomberg, Getty, China, Apple Daily, Police, city's Legislative, Council, Beijing, Hong Locations: Beijing, British, Hong Kong, China, city's
U.S. House committee to consider sweeping China bill next week
  + stars: | 2021-06-25 | by ( ) www.cnbc.com sentiment -0.93   time to read: +1 min
Socially distanced members of Congress stand as US President Joe Biden addresses a joint session of Congress at the US Capitol in Washington, DC, on April 28, 2021. The U.S. House of Representatives Foreign Affairs Committee has scheduled a meeting on Wednesday to consider sweeping legislation to boost economic competitiveness and push Beijing on human rights, part of an ongoing effort in Congress to address competition with China. The Senate on June 8 passed by a strong bipartisan 68-32 majority its own sweeping China bill, the "U.S. House leaders opted not to take up and consider the Senate's legislation. House committees have instead been working on their own legislation, a process that could mean a months-long wait for any bill to be sent to the White House for Biden to sign into law.
Persons: Joe Biden, Joe Biden's, Gregory Meeks, Biden Organizations: U.S . House, Representatives Foreign, China, American Global Leadership, Congress, Foreign Affairs, Innovation, White Locations: Washington ,, Beijing, China, U.S
China listing frenzy in U.S. set to be boosted by Didi IPO
  + stars: | 2021-06-25 | by ( Scott Murdoch | ) www.reuters.com + 0.00   time to read: +4 min
A woman rides a Didi shared bicycle past the headquarters of Didi Chuxing in Beijing, China November 20, 2020. The rush of listings happened despite continued political tension between the two countries under President Joe Biden, and the looming threat of U.S. kicking out Chinese companies if they fail to meet auditing standards. The biggest Chinese listing in the United States so far this year was Full Truck Alliance (YMM.N), sometimes referred to as "Uber for trucks", which raised $1.6 billion earlier this week. Technology deals accounted for 24% of Asia IPOs in the first half and prospect of more emerging in the second half remains strong, according to Refinitiv data. Reporting by Scott Murdoch in Hong Kong; Editing by Sumeet ChatterjeeOur Standards: The Thomson Reuters Trust Principles.
Persons: Didi, Didi Chuxing, Florence, Didi Chuxing's, Joe Biden, Ivy Wong, Baker, Biden, Donald Trump, Uber, Alibaba, dealmakers, Alex Abagian, Morgan Stanley, Peter Cheng, Scott Murdoch, Sumeet Chatterjee Organizations: REUTERS, New, Holding Foreign Companies, Technology, Asia Pacific, Deacons, Thomson Locations: Beijing, China, HONG KONG, New York, United States, ASIA, Asia, Asia Pacific, Japan, Hong Kong
"Mining machines are selling like scrap metal." The local government of Sichuan, China's No.2 bitcoin mining centre after Xinjiang, issued a ban on cryptomining a week ago. Analysts say Beijing is also worried about potential competition for the digital yuan and that the power-hungry business of bitcoin mining could damage the environment. China's ban on bitcoin mining may see up to 90% of all mining in the country go offline, according to an estimate by Adam James, a senior editor at OKEx Insights. BIT Mining said on Monday that it had successfully delivered its first batch of 320 mining machines to Kazakhstan.
Persons: Dado Ruvic, Mike Huang, Liu Hongfei, Adam James, Nishant Sharma, Sharma, Winston Ma, Xianfeng Yang, Huang Dezhi, Huang, Sun, Wang Weifeng, Samuel Shen, Andrew Galbraith, Vidya Ranganathan, Raju Gopalakrishnan Organizations: REUTERS, State Council, Analysts, Communist Party, BlocksBridge Consulting, NYU Law, China's, BIT Mining, Thomson Locations: SHANGHAI, Texas, Kazakhstan, Sichuan, China's, Xinjiang, cryptocurrencies, Beijing, Inner Mongolia, Yunnan, China, Bitmain, United States, Canada, Australia, Russia, Indonesia, Guangdong
China's Bitmain suspends sales of cryptomining machines after Beijing's mining ban
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
Bitcoin mining computers are pictured in Bitmain's mining farm near Keflavik, Iceland, June 4, 2016. REUTERS/Jemima KellySHANGHAI, June 25 (Reuters) - Bitmain, China's biggest maker of cryptocurrency mining machines, said it had suspended sales of its products in the spot market to help ease selling pressure following Beijing's ban on bitcoin mining. read moreFollowing the ban, many Chinese miners are selling machines and exiting the business, or shipping machines overseas. "(Overseas) mining sites are not built overnight, and selling pressure is huge in the secondary market," Bitmain said in a statement. Bitmain said overseas markets where it and Chinese miners are seeking cheap electricity also include Belarus, Sweden, Norway, Angola and Congo.
Persons: Jemima Kelly SHANGHAI, Bitmain, Samuel Shen, Andrew Galbraith, Shri Navaratnam Organizations: REUTERS, China's, Council, Thomson Locations: Keflavik, Iceland, United States, Canada, Australia, Russia, Kazakhstan, Indonesia, China's, Inner Mongolia, Xinjiang, Yunnan, Sichuan, Belarus, Sweden, Norway, Angola, Congo
Didi steers towards more muted Uber-like valuation
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
Didi Chuxing's CEO Will Cheng speaks at a launch event for D1 electric van by Didi and electric vehicle maker BYD, in Beijing, China November 16, 2020. WASHINGTON, June 25 (Reuters Breakingviews) - China’s ride-hailing behemoth is driving slow ahead of its initial public offering. Didi Global, led by boss Will Wei Cheng, is targeting a market capitalisation of up to $67 billion, based on a price range of $13 to $14 per share, just two-thirds of the earlier mooted goal read more . At the top end, Didi’s enterprise is valued at a multiple of 12 times last year’s “Platform Sales”, a comparable metric to revenue reported by Uber (UBER.N) which trades on 9 times. Regulatory roadblocks could weigh on growth: Officials launched an antitrust probe over competitive practices, and Didi has been ordered to share more information with drivers.
Persons: Didi Chuxing's, Will Cheng, Didi, Didi Global, Will Wei Cheng, Uber, It’s, Sharon Lam, Xpeng, Una Galani Organizations: Reuters Locations: Beijing, China, WASHINGTON
Residents receive vaccines against the coronavirus disease (COVID-19) at a makeshift vaccination site in Guangzhou, Guangdong province, China June 21, 2021. cnsphoto via REUTERSBEIJING, June 25 (Reuters) - Antibodies triggered by two Chinese COVID-19 vaccines are less effective against the Delta variant compared with other strains but the shots still offer protection, a Chinese disease control researcher told state media. The Delta variant of the new coronavirus, first detected in India, is becoming the globally dominant variant of the disease with its increased transmissibility, the World Health Organization's chief scientist warned last week. It remains unclear how many of them contracted the Delta variant. About 85% of the Guangdong cases in the latest outbreak were found in the provincial capital, Guangzhou. "In the Guangdong outbreak ... none of those vaccinated infections became severe cases, and none of the severe cases were vaccinated," Feng said.
Persons: Feng Zijian, Feng, Sinopharm, Roxanne Liu, Ryan Woo, Stephen Coates Organizations: cnsphoto, REUTERS, Health Organization's, China Central Television, Chinese Center for Disease Control, Sinovac Biotech, Thomson Locations: Guangzhou, Guangdong province, China, REUTERS BEIJING, India, Brazil, Bahrain, Chile, Guangdong
China ferrous futures rise, coking coal and coke set for weekly gains
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
A man works on transporting iron ore on a truck at Ganyu port in Lianyungang, Jiangsu province, China June 11, 2019. Benchmark iron ore futures inched up 0.6% to 1,178 yuan in morning trade. Spot prices for 62% iron ore fell $2 to $217 a tonne on Thursday, according to consultancy SteelHome. Construction steel rebar on the Shanghai Futures Exchange , for October delivery, rose 1.1% to 5,029 yuan per tonne. The August contract for Shanghai stainless steel futures rose 2.6% to 16,885 yuan per tonne.
Persons: Stringer, Mysteel, Min Zhang, Shivani Singh, Shounak Dasgupta Organizations: REUTERS, Dalian Commodity Exchange, Dalian, SteelHome, Fitch Solutions, Shanghai Futures Exchange, China Baowu Steel Group, Vale, Shandong Xinhai Technology, Thomson Locations: Lianyungang, Jiangsu province, China, BEIJING, Shanghai, VALE3, Shandong, Indonesia
Hong Kong's police chief, security secretary to be promoted-report
  + stars: | 2021-06-25 | by ( ) www.reuters.com + 0.99   time to read: +1 min
Hong Kong's Commissioner of Police Chris Ping-keung Tang attends a news conference in Hong Kong, China August 27, 2020. REUTERS/Tyrone SiuHONG KONG, June 25 (Reuters) - Hong Kong's Secretary of Security John Lee and police chief Chris Tang, key figures behind the city's authoritarian turn over the past year, are expected to be promoted "very soon," the South China Morning Post (SCMP) reported on Friday. Lee will replace retiring Matthew Cheung as chief secretary, leader Carrie Lam's No. The chief secretary's office and the Security Bureau did not immediately respond to requests for comment. Lee, Tang and Secretary for Justice Teresa Cheng have been key local players in Beijing's push to reassert its control over the former British colony.
Persons: Hong, Chris Ping, keung Tang, Tyrone Siu, John Lee, Chris Tang, Lee, Matthew Cheung, Carrie Lam's, Tang, SCMP, Raymond Siu, Teresa Cheng, Donny Kwok, Raju Gopalakrishnan Organizations: REUTERS, Kong's, China Morning, Security, Communist, Thomson Locations: Hong Kong, China, Tyrone Siu HONG KONG, Lee, British, Lam, Beijing
Fire kills 18 at China martial arts centre for youngsters
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
BEIJING, June 25 (Reuters) - A fire tore through a martial arts training centre in China on Friday killing 18 people, with one state media outlet saying most of the victims were children who were staying there. The blaze broke out at 3 a.m. (1900 GMT Thursday) and was later extinguished, the government of Zhecheng county, in Henan province, said on its website. Police detained the person in charge of the centre, the county said. It did not identify the person or the training centre. Fires are not uncommon in China, with patchy safety protocols and sub-standard construction constant concerns.
Persons: Ryan Woo, Michael Perry Organizations: Police, Beijing Youth Daily, Thomson Locations: BEIJING, China, Zhecheng county, Henan province, Luoyang, Henan
Hong Kong Editor's note: CNN has launched the Meanwhile in China newsletter, a three-times-a-week update exploring what you need to know about the country's rise and how it impacts the world. People line up to buy the final edition of Apple Daily at a newsstand in the Central district of Hong Kong on Thursday. For the party, the central mission of the media is not to hold the powerful accountable, but ensure those in power hold on to it. The country has an outsized role in the global solar power industry, producing much of the world's capacity for various components needed to create the panels. Solar power, meanwhile, is central to US President Joe Biden's plans to move the country to greener energy.
Persons: Hong Kong, Xi Jinping, Hongkongers —, Mao Zedong —, Xi, , Biden, Joe Biden's, Jill Disis Organizations: CNN, Communist Party, Hong Kong's, Apple Daily, National Security, Apple, Beijing, It's Party, Wuhan, China Washington, Industry Locations: Hong Kong, China, Hong, Beijing, Central, Wuhan, Covid, Xinjiang, Washington, Asia
REUTERS/Lam Yik/File PhotoHONG KONG, June 25 (Reuters) - For a group of interns, Hong Kong's pro-democracy newspaper Apple Daily proved to be a work experience they will never forget. Working at Apple Daily is not just a job, it is like a mission," she said. For Ng, 21, working at the Apple Daily had been a childhood dream come true. "If I didn't get the internship at Apple Daily, I wouldn't apply to any other organisation," she told Reuters. "There won't be a paper better than Apple Daily for reporting the truth."
Persons: Lam, Hong Kong's, Cherry, Jimmy Lai, Lai, Ng, Kenji, Sharon Abratique, Anne Marie Roantree, Robert Birsel Organizations: Apple Daily, Next, REUTERS, Communist, Authorities, Reuters, Apple, Thomson Locations: Hong Kong, China, HONG KONG, Beijing, Hong, Hong Kong's Beijing, British
Japan to give 6 mln doses of vaccines to Taiwan, 5 SE Asia nations
  + stars: | 2021-06-25 | by ( ) www.reuters.com + 0.00   time to read: +2 min
A medical worker receives a dose of the vaccine against the coronavirus disease (COVID-19) at the Tokyo Metropolitan Cancer and Infectious Diseases Center Komagome Hospital in Tokyo, Japan March 5, 2021. read moreJapan donated 1.24 million doses to Taiwan and 1 million to Vietnam this month and plans to share an additional 1 million doses each with the two. A Taipei-based official familiar with Japan's two vaccine donations said while the Japanese government has been subtle in its offers, mainly focusing on Taiwan's urgent medical need, there was a broader message. The island, which China claims as its own territory, also received 2.5 million vaccine doses from the United States this month. Its foreign minister, Toshimitsu Motegi, said on Friday Japan would start to supply 11 million doses in total to regions including Southeast Asia, Southwest Asia and the Pacific islands through the COVAX from mid-July.
Persons: Yoshikazu, Toshimitsu Motegi, Nobuhiro Kubo, Elaine Lies, Jacqueline Wong Organizations: Tokyo Metropolitan Cancer, Infectious Diseases, Komagome Hospital, REUTERS, AstraZeneca Plc's, World Health Organization, Japan, AstraZeneca, Thomson Locations: Tokyo, Japan, REUTERS TOKYO, Taiwan, Vietnam, Thailand, Malaysia, Indonesia, Philippines, Asia, Gavi, COVAX, Taipei, China, Beijing, United States, Southeast Asia, Southwest Asia
First deepwater gas field fully run by China starts production
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -0.90   time to read: +1 min
Men wearing face masks walk past a sign of China National Offshore Oil Corp (CNOOC) outside its headquarters in Beijing, China March 8, 2021. REUTERS/Tingshu Wang/FilesBEIJING, June 25 (Reuters) - The first deepwater gas field fully operated by a Chinese company, Lingshui 17-2, started production on Friday, the country's national offshore producer CNOOC Ltd (0883.HK) said. The gas project, in the South China Sea, is expected to reach peak production of 328 million cubic feet of natural gas and 6,751 barrels of condensate per day in 2022, with a 10-year stable production period, CNOOC said in a press release. A total of 11 production wells are planned in the gas field, CNOOC said. read moreThe project will bring CNOOC's total gas production capacity in the South China Sea area to more than 13 billion cubic meters annually, the company said in a separate post on its official Weibo account.
Persons: Tingshu Wang, CNOOC, Hallie Gu, Shivani Singh, Aditya Soni Organizations: China National Offshore Oil Corp, REUTERS, CNOOC, HK, Reuters, Thomson Locations: China, Beijing, BEIJING, South China
U.N. High Commissioner for Human Rights Michelle Bachelet attends a news conference at the European headquarters of the United Nations in Geneva, Switzerland, December 9, 2020. "In the meantime, the office continues to deepen its analysis and assessment of the alleged patterns of human rights violations in Xinjiang," she said on Tuesday. "There is no formal U.N. assessment of what is happening in Xinjiang and we need that given Beijing's denial," Kenneth Roth, head of Human Rights Watch, told reporters last week. Human Rights Watch and Amnesty International this year documented what they said could constitute crimes against humanity being committed in Xinjiang. Sarah Brooks, China expert at the International Service for Human Rights, said: "All that remains is for High Commissioner Bachelet to step up - China's cooperation must not be misinterpreted as a precondition to doing her job."
Persons: Human Rights Michelle Bachelet, Denis Balibouse, Bachelet, Ken Roth, Michelle Bachelet, U.N, Kenneth Roth, Sarah Brooks, Stephanie Nebehay, Alex Richardson Organizations: Human Rights, United Nations, REUTERS, Human Rights Watch GENEVA, Human Rights Council, Rights Watch, Amnesty International, International Service for Human Rights, High, Thomson Locations: Geneva, Switzerland, Xinjiang, China, Beijing, Canada, United States, Venezuela, Kashmir, Turkey
A Lexus vehicle equipped with Pony.ai's autonomous driving system drives on a road during a test event, in Beijing, China, May 13, 2021. "For autonomous driving, it's a big opportunity. That means all the autonomous driving companies need to raise enough funding to support their operations," he said. It has also been testing driverless vehicles in Guangzhou, China. He said the next big challenge is to reduce manufacturing costs for driverless vehicles while expanding into more cities and regions and ensuring safety in different environments.
Persons: Tingshu Wang, Waymo, Motors, James Peng, Lawrence Steyn, Peng, Lou Tiancheng, Hyunjoo Jin, Christopher Cushing Organizations: Lexus, REUTERS, Toyota Motor Corp, Reuters, JPMorgan Chase &, Google, Baidu Inc, HK, Toyota, Thomson Locations: Beijing, China, FREMONT , California, United States, California's Fremont, Milpitas, Guangzhou, Irvine , California
Chinese automaker Geely Auto scraps STAR Market listing plan
  + stars: | 2021-06-25 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
The Geely logo is seen on its vehicle during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song/FilesBEIJING, June 25 (Reuters) - China's Geely Automobile Holdings Ltd (0175.HK) said on Friday it is dropping plans to list new shares on the mainland's Nasdaq-like STAR Market. In September, Geely Auto said in a filing that it planned to raise 20 billion yuan ($3.10 billion) from the STAR Market listing. Geely Auto is aiming to sell over 1.5 million vehicles this year. In February, Geely Auto said it abandoned merger plan with sister company Volvo Cars.
Persons: Aly, Yilei Sun, Tony Munroe, Jason Neely Organizations: Auto Shanghai, REUTERS, Geely Automobile Holdings, HK, Nasdaq, STAR, Zhejiang Geely Holding, Daimler AG, Volvo, Geely Auto, Thomson Locations: Shanghai, China, BEIJING, Zhejiang, Hong Kong
Nike shares on track to hit record high as sales get post-lockdown boost
  + stars: | 2021-06-25 | by ( ) www.reuters.com + 0.99   time to read: +2 min
A man walks past a store of the sporting goods retailer Nike Inc at a shopping complex in Beijing, China March 25, 2021. Those factors helped Nike more than make up for weak China sales, which were hit by calls to boycott global brands for their comments around forced labor in Xinjiang. read moreStill, analysts are optimistic of a swift demand rebound in the region as company executives noted that sales trends in China for June were already reaching 2020 levels. "We're a brand of China and for China." At least 12 brokerages raised their price targets, with Jefferies' new $200 target making it the second-highest on the Street.
Persons: Florence Lo, Cristina Fernandez, We've, John Donahoe, Jefferies, James Grzinic, Aishwarya Venugopal, Anil D'Silva Organizations: Nike Inc, REUTERS, Nike, Adidas, Puma, Thomson Locations: Beijing, China, Europe, United States, Xinjiang, Bengaluru
A Didi logo is seen at the headquarters of Didi Chuxing in Beijing, China November 20, 2020. Terms of the deal suggest a conservative approach for Didi that sources said had earlier been eyeing a valuation range of $80 billion and $100 billion. Reuters reported last week that China's market regulator has begun an antitrust probe into Didi, citing sources with knowledge of the matter. In 2016, Uber sold its Chinese operation to Didi for a 17.5% stake in the Chinese firm, which also made a $1 billion investment in Uber. The U.S. firm now owns 12.8% in Didi, IPO filings show.
Persons: Didi Chuxing, Florence, Didi, David Xu, Morgan, Didi CEO Cheng Wei, Uber, Goldman Sachs, Morgan Stanley, J.P, Niket, Vinay Dwivedi Organizations: REUTERS, Reuters, New York Stock Exchange, Morgan Stanley Investment Management, Singapore's Temasek, Administration, Market, Inc, SoftBank Group Corp, Alibaba Group Holdings, HK, Tencent Holdings, Uber, NYSE, BofA Securities, Barclays, China Renaissance, Citigroup, HSBC, UBS Investment Bank, Thomson Locations: Beijing, China, York, U.S, New York, Hong Kong, Bengaluru
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