Business News
Latest business news and updates
Total: 1178
Beijing Backs Hydrogen with Billions in Prizes as Industry Hunts Cheaper Green Fuel
Beijing has launched a performance‑based pilot scheme that offers up to Rmb1.6 billion per city cluster to scale hydrogen use, with national aims to cut hydrogen prices to Rmb25/kg on average by 2030 and to grow fuel-cell vehicle numbers to 100,000. Industry sees the policy as welcome but says cutting electricity costs and validating new electrolyser technologies are essential to make green hydrogen competitive.
China’s Corn-Oil King Faces Forced Sale as Founder’s Empire Unravels
Xiwang Food, China’s leading corn-oil brand, faces a judicial auction of 200 million shares held by indebted parent Xiwang Group on March 30–31, 2026. The forced sale follows years of aggressive diversification, heavy losses and creditor actions that have left the group’s other listed units collapsed, while the food business still retains a strong market position despite mounting impairments.
Tencent’s Nostalgia Bet Tops 50 Million Pre-registrations as China’s IP-Driven Mobile Game Market Heats Up
Tencent’s Rock Kingdom: World topped 50 million pre-registrations ahead of a cross‑platform launch later this month, signaling strong demand for established IP remade for mobile and PC. A Shanhaijing‑themed idle card game, Yishou Lingjing, will launch on March 20, while Capcom’s Resident Evil release has rapidly reached 6 million sales—together underscoring the market premium for known brands, cross‑platform play and long‑tail monetisation.
Canton Fair Hits New High as Greater Bay Area Pushes Deeper Integration — Huawei and Dongguan Launch a ‘HarmonyOS City’
The 139th Canton Fair will open April 15 at record scale, highlighting a shift toward branded, green and intelligent exports. Beijing has elevated the Shenzhen–Zhuhai corridor to national planning, while Dongguan and Huawei launched a ‘HarmonyOS City’ to embed domestic IoT and data platforms into urban and industrial life. Hong Kong’s forthcoming five‑year plan aims to align the city more closely with national priorities.
Robot Hype Fades: Zhejiang Rongtai Rebrands Its Thailand Project, Shifts From ‘Robot Parts’ to Insulation and Lead Screws
Zhejiang Rongtai has revised a Thailand investment, replacing a plan to produce robot components with two projects focused on insulation/fire‑proof materials and industrial lead screws. The move reflects regulatory and operational considerations and is likely to cool the investor enthusiasm that pushed the stock sharply higher amid a robot‑focused narrative in 2025. The success of the new, split projects will hinge on execution, demand for lead screws, and whether the company can translate its materials market lead into higher‑margin manufacturing.
China CRO ‘Hoards Monkeys, Sells Shares’: Major Holders Exit as Zhaoyan’s Earnings Mask Weak Core Business
Zhaoyan New Drug saw its shares tumble after major shareholders announced plans to sell their entire holdings, triggering a market rout. The company’s improved 2025 net profit projection is driven largely by non‑cash fair‑value gains on biological assets, while its core CRO business faces revenue decline and negative operating profit amid sector overcapacity and price competition.
Chinese Stocks Retreat as Breadth Collapses — Over 4,500 Shares Fall Amid Flight to Big Finance
China’s stock market experienced a broad sell‑off with more than 4,500 stocks declining and major growth and tech boards leading losses. Volume fell sharply to ¥2.21 trillion as investors rotated into large financial stocks while compute‑hardware and semiconductor names lagged.
Fast‑growing Chinese Malatang Chain Faces Food‑safety Crisis After Duck Sold as Beef and Pork; Apology Deleted Amid Investigations
Liu Wenxiang Malatang, a rapidly franchised Chinese malatang chain, admitted lapses after multiple outlets allegedly sold duck labeled as beef and pork. The company posted and then deleted an apology while market regulators opened formal investigations, underscoring systemic risks in decentralised procurement amid rapid expansion.
Hong Kong Markets Mark Time as Chip and Battery Names Slide, Optical-communications Stocks Diverge
Hong Kong’s Hang Seng closed slightly higher while the Hang Seng Tech Index slipped, as semiconductor and battery stocks pulled back and optical-communications names diverged sharply. Company-level news and southbound fund selling are driving a differentiated market, producing volatility beneath a calm headline.
When a Bank Locks Its Own History: Customer Denied Account Records at Bank of Tianjin
A Bank of Tianjin customer who opened an account in 1997 was initially denied a complete printout of his account history because the branch said the time span was "too long." After media attention the branch produced records dating back to 1999, but earlier entries remain inaccessible due to technical limits. The incident highlights archival gaps, legal constraints on third‑party records and reputational risks for Chinese regional banks.
Nvidia’s GTC and a Cooling A‑share Rotation: Why China’s AI Hardware Rally Suddenly Stalled
Nvidia’s GTC set out an ambitious vision for AI infrastructure that validates long‑term demand for higher‑performance compute but also triggered profit taking and a sharp pullback among China’s recent market leaders. The sell‑off reflects a mixture of recalibrated expectations, quant‑driven trading and fresh supply‑side worries such as MLCC price hikes and extended memory tightness, leaving short‑term volatility high even as the structural AI opportunity remains intact.
Nvidia’s GTC Rebases Expectations — China’s Stock Rotation Collapses as AI Hardware Hype Recedes
Nvidia’s GTC announcements—new liquid‑cooled systems, optical switches and a $1 trillion demand projection—sparked a reassessment of AI hardware expectations. Chinese equity markets reacted with a broad sell‑off in recently hot rotation sectors, amplified by quant trading and profit taking, while defensive sectors gained.