Press releases about business, cryptocurrency, fintech and more news in Hong Kong and Asia

GalaxySpace Completes a New Financing Round with Legend Capital Re-upped

HONG KONG, Sep 25, 2022 – (ACN Newswire via – GalaxySpace, a Chinese commercial aerospace company, recently completed its latest financing round with a post-investment valuation of approximately RMB11 billion. As an existing shareholder, Legend Capital continued to support the company by following up on this financing round. Legend Capital first invested in GalaxySpace […]

Global investors cut exposure to China on rising risks

SINGAPORE – Global investors in private equity and venture capital funds say they are rotating away from China as clients are reassessing risks because of the country’s rapidly changing environment. Investors are paring their holdings in the once-booming economy, despite their conviction that long-term growth will continue, according to speakers from Partners Capital, Hamilton Lane […]

China Vanke’s unit seeks up to $1.1b in Hong Kong IPO with Temasek among investors

HONG KONG – Onewo, the property management unit of real estate developer China Vanke, is planning to raise as much as about HK$6.2 billion (S$1.1 billion) through a Hong Kong initial public offering (IPO). The firm is offering about 116.7 million shares at HK$47.1 to HK$52.7 each, according to an exchange filing. The share sale […]

Russia now top crude oil supplier to China even as sanctions choke off sales to Europe

SINGAPORE – Russia’s oil exports continue to defy sanctions and are finding willing buyers in Asia, with China and India maintaining their voracious appetite for the discounted crude, industry sources told The Straits Times. The country is fighting to make sure that moves in early September by finance ministers of the United States, Germany, Italy, Japan, […]

Chinese developers facing a flurry of winding-up lawsuits

HONG KONG – Smaller creditors of embattled Chinese property firms are increasingly turning to court to obtain payments, highlighting the turmoil in the property sector as developers rush to craft debt-resolution plans. The most recent cases were filed against Sunac China Holdings and Jiayuan International Group. They are among at least six builders the past several […]

China to publish detailed economic policy steps in early September

BEIJING – China said it will publish detailed steps for newly announced economic policy measures in early September, suggesting an urgency for policymakers to revive the sluggish economy amid a resurgence of Covid-19 and an embattled property sector. The government will lay out detailed plans to implement the 19 new policies it announced last week […]

Nissin Foods Announces 2022 Interim Results

HONG KONG, Aug 30, 2022 – (ACN Newswire via – Nissin Foods Company Limited (“Nissin Foods” or the “Company”, together with its subsidiaries, the “Group”; Stock code: 1475) has today announced its interim results for the six months ended 30 June 2022 (“the reporting period”). Highlights— Revenue from the Hong Kong operations increased solidly […]

US businesses in China name zero-Covid-19 policies as their top concern, survey finds

WASHINGTON – China’s zero-Covid-19 policy was the top concern last year for American companies in the country, and their optimism about the world’s second largest economy has fallen to a record low, according to an annual survey out on Monday (Aug 29). Beijing’s pandemic policy also displaced tensions between the United States and China to […]

Retailer Miniso to junk Japanese styling after Chinese outcry

BEIJING (BLOOMBERG, REUTERS) – Chinese budget retailer Miniso Group Holding has apologised for styling itself as a Japanese designer brand and says it will make changes across its stores to rectify this, amid the latest wave of local nationalism fuelled by geopolitical tension over Taiwan. The Guangzhou-based company, which has more than 5,000 stores in China and […]


HONG KONG, CHINA, Aug 20, 2022 – (亞太商訊 via – 2022年8月19日,復銳醫療科技有限公司(英文「Sisram Medical」;簡稱「公司」或「復銳醫療科技」,股份代號:1696.HK,連同其附屬公司統稱「集團」),今日公…

Factory shutdowns, showers for pigs: China heat wave add to economic woes

HONG KONG (NYTIMES) – Faced with China’s most searing heat wave in six decades, factories in the country’s southwest are being forced to close. A severe drought has shrunk rivers, disrupting the region’s supply of water and hydropower and prompting officials to limit electricity to businesses and homes. In two cities, office buildings were ordered […]