Business News
Latest business news and updates
Total: 3034
Bitcoin Breaks $69,000 as Markets Push Crypto Back Toward Late‑2021 Highs
Bitcoin rose above $69,000 on March 9, 2026, gaining 4.84% in a single day and pushing the asset back toward its late‑2021 price area. The advance reflects renewed institutional demand and elevated market liquidity, but also heightens volatility and regulatory risk for investors.
China’s Taurine Champion Warns of More Than 50% Profit Drop as Prices and Demand Slip
Yong'an Pharmaceutical, a leading Chinese taurine producer, expects net profit for 2025 to fall between RMB 18.19m and RMB 27.05m, down more than half from the prior year. The drop reflects weaker prices and sales in the taurine market; the company plans a RMB 50m capital injection into its subsidiary to develop downstream capabilities, even as regulators issued a warning over disclosure lapses.
Record Mainland Buying Cushions Hong Kong Slide as Hang Seng Falls 1.35%
Hong Kong’s Hang Seng slid 1.35% while the Hang Seng TECH index was largely steady, but record southbound Stock Connect inflows of roughly HK$37 billion limited the rout. The session featured sharp gains in a few domestic names and a narrowing of losses in chip stocks, highlighting the market’s dependence on mainland liquidity and selective investor appetites.
China’s Test-Equipment Star Seeks Nearly RMB3bn, While Major Shareholder Sells Into the Rally
Jingzhida, a STAR Market maker of semiconductor test equipment, announced a RMB 29.59 billion private placement to fund R&D and industrialisation while a major shareholder plans to sell about RMB 417 million worth of shares. The move comes after a 778% share-price surge, and follows 2025 results showing strong revenue growth but falling net profit due to heavy R&D and stock-based compensation.
Chinese Buyer Sues Trafigura, Alleges Systematic Evasion of US Russia Sanctions in Naphtha Trades
A Hainan energy firm accuses Trafigura Singapore of concealing the Russian origin of naphtha shipments, falsifying documents and inflating demurrage to shift losses onto Chinese buyers. The complainant has sued in China and plans to file evidence with OFAC and EU regulators, creating potential for cross-border legal exposure and stricter scrutiny of global commodity trading practices.
A‑share Rally Fizzles as Breadth Weakens — Compute‑Power and Grid Equipment Lead Narrow Gains
China’s markets ended lower on March 9 despite a late rebound, with heavy trading but weak breadth. Compute‑power leasing and power‑grid equipment stocks led gains while ports, shipping and oil‑and‑gas names lagged, underscoring a narrow, policy‑driven rally amid uneven economic signals.
GAC’s Ambitious Turnaround: Charging Rural China, Exporting Standards and Betting on Robots and Flying Cars to Hit 2 Million Vehicles by 2026
GAC chairman Feng Xingya told China’s Two Sessions that the group aims to return to about 2 million vehicles in 2026 by pushing deeper into rural NEV markets, accelerating battery‑swap deployment, expanding overseas via a 1,000‑outlet plan and investing in humanoid robots and flying cars. The strategy mixes rapid commercial roll‑outs with calls for national standards and policy support to clear regulatory and infrastructure bottlenecks.
China’s Consumer Prices Spike After Lunar New Year as Producer Inflation Continues to Recover
February’s data show China’s consumer prices rose sharply month‑on‑month after the Lunar New Year while producer‑price declines continued to narrow. The bounce is concentrated in services and selective industrial sectors, reflecting a seasonal consumption burst and policy‑driven improvements in supply and demand conditions.
China’s Retail Fuel Prices to Jump — Filling a 70L Tank Will Cost Nearly ¥40 More
China is set to raise retail fuel prices on March 9, with forecasts showing gasoline up about ¥0.50–0.56 per litre and diesel around ¥0.57 per litre. That will make filling a standard 70-litre car tank almost ¥40 more expensive, tightening cost pressures for households and transport-intensive businesses.
Hainan’s Big Push: How China’s Free‑Trade Port Is Racing Ahead — and What Could Stall It
Two months after launching island‑wide closed‑port operations, Hainan reports sharp gains in duty‑free coverage, new business registrations and tourism, driven by expanded zero‑tariff lists and visa liberalisation. Officials characterise the early phase as a successful pressure test but stress the harder task ahead: translating short‑term inflows into sustained, high‑quality economic upgrading while tightening enforcement against smuggling.
Fosun’s Bet on Shede Falters as Local Liaison Departs and Sales Slide
Shede Liquor, controlled by Fosun, is under strain: key local liaison Wang Yong has resigned amid slipping sales, swollen inventories and a market that favours ultra-premium and mass-market players. The company’s governance concentration, large capacity expansion and high dividend payouts complicate recovery, leaving Shede at a crossroads between operational rescue, retrenchment or portfolio reallocation.
How China Turned a Global Gas‑Turbine Shortage into an Industrial Win
A surge in demand for reliable, fast‑ramping power driven by AI data centres has created a global shortage of heavy gas turbines. Chinese manufacturers, led by Dongfang Electric, have closed decades‑long technology gaps to produce and export F‑class machines, altering the competitive landscape and raising strategic and environmental questions for buyers and policymakers.