Jack Ma may be ready to sell control of Ant

Jack Ma may be ready to sell control of Ant

(ATF) Ant Group is reportedly exploring options for founder Jack Ma to sell his stake in the financial technology giant he founded, now one of the biggest and most formidable in the world. Chinese regulators allegedly told the company's executives in recent meetings that Ma giving up control could help …

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China recovery broadening, with signs govt is targeting risky debt

China recovery broadening, with signs govt targeting risky debt

(ATF) Recovery is widening in the world’s second largest economy – the first one hit by the coronavirus and the first to rebound – and beginning to even out as China’s laggard provinces start to catch up with the national average. The Covid pandemic has shown up marked differences between …

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China sets record quarterly GDP growth of 18.3% 

China sets record quarterly GDP growth of 18.3% 

(ATF) China's economy grew at a record pace in the first quarter, official data showed on Friday, expanding 18.3% from a year earlier. The growth in gross domestic product (GDP) was slower than the 19% forecast by economists in a Reuters poll, and followed 6.5% growth in the fourth quarter …

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Cash-rich Xiaomi determined to boost its share price

Cash-rich Xiaomi determined to boost its share price

(ATF) With 108 billion yuan (US$16.5 billion) cash in hand, Xiaomi has recently entered the auto industry with a high-profile move and it is also repurchasing the company's shares in another big play. On April 13, Xiaomi Group repurchased just over 16 million of the company's shares at a cost …

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Time to upgrade! China clicks 'agree' on tech sector evolution 

Time to upgrade! China clicks 'agree' on tech sector evolution

(ATF) Beijing has launched a push for more digitalisation and even higher standards among its tech-making firms. The General Office of the Ministry of Industry and Information Technology (MIIT) announced it will create a new nationwide industrial quality brand this year. The office’s goal is to improve the quality and …

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South China Sea tensions spike, as oil and gas drilling continues

South China Sea tensions spike, as oil and gas drilling continues

(ATF) South China Sea developments are grabbing headlines once again. Chinese state media reported on Thursday that China had drilled deep in the controversial waterway to retrieve sediment core from the seabed. Chinese scientists on a marine research vessel used a domestically built “Sea Bull II” drilling system to obtain …

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Ant rejig cools investor appetite for revived IPO

Ant rejig cools investor appetite for revived IPO

(ATF) China's regulatory revamp of Jack Ma's Ant Group is set to transform the fintech giant into a financial holding company – yet it appears to have cooled investor appetite for a revived listing at home. Ant Group was previously set to be the biggest IPO ever last November, tipped …

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