CATL takes $137m stake in Kisanfu copper-cobalt mine

CATL takes $137m stake in Congo’s Kisanfu copper-cobalt mine

(ATF) A subsidiary of China’s largest electric vehicle battery maker Contemporary Amperex Technology Co Ltd (CATL) will take a $137.5-million stake in the Kisanfu copper-cobalt mine in the Democratic Republic of Congo in a bid to secure supplies for its EV batteries. Under a strategic partnership agreement, Ningbo Brunp CATL …

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After Alibaba’s $2.8bn antitrust fine, who will be the next target?

After Alibaba’s $2.8bn antitrust fine, who will be the next target?

(ATF) Alibaba Group’s shares rose in Hong Kong after Chinese authorities announced a fine of over $2.8 billion on the e-commerce giant – but shares of other Chinese internet giants have plunged. Analysts say Alibaba won’t be the last target of Beijing’s anti-monopoly campaign, and other e-commerce giants, such as …

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China's coal strategy hits importers and consumers, data show

China coal strategy hits importers and consumers, data show

(ATF) China will remain heavily dependent on coal despite its environmental goals, while consumer prices will stay high due to its unofficial ban on imports from Australia, reports indicate. The country’s official production outlook envisages growth for the next five years, despite China’s commitment to have the nation’s carbon emission …

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China’s 'Hawaii' gets a boost for pharma, EVs, financial services

China’s 'Hawaii' gets a boost for pharma, EVs, financial services

(ATF) China on Thursday announced a slew of measures to support businesses in the pharmaceutical sector, financial services, new energy vehicles (NEVs) and aerospace in the southern province of Hainan. The moves will also test the effectiveness of these reforms. The island, known as the “Hawaii of China”, was made …

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China’s $111 billion boost to Guangdong’s tourist industry 

China’s $111 billion boost to Guangdong’s tourist industry

(ATF) China’s leading tourism region, Guangdong, is to see 728 billion yuan ($111 billion) of investment in 1,395 projects as Beijing looks to develop the area’s potential even further. The Guangdong Province 2021 Key Construction Project Plan will include 59 key cultural tourism projects, according to official outlet southcn.com, with …

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Shares of Chinese gaming firm plunge 62 billion yuan 

Shares of Chinese gaming firm plunge 62 billion yuan

(ATF) Chinese gaming firm 37 Interactive Entertainment has long been seen as the top rival to Tencent in the internet gaming sector, and is still a leader of A-share listed firms. But its share price has dropped dramatically over the past nine months – losing 62 billion yuan (nearly $9.5 …

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Supplier shares hit by Apple ‘cut-off woes’ over Xinjiang labour

Supplier shares hit by Apple ‘cut-off woes’ over Xinjiang labour

(ATF) Shares of Apple’s Chinese suppliers – Goertek, Luxshare Precision Industry, Lens Technology and Lingyi iTECH Manufacturing – have plummeted in the last two months after reports that Ofilm Group, a camera module maker blacklisted by Trump over “forced labour” allegations in Xinjiang, was removed from Apple’s supply chain. While …

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