No longer content to play underdeveloped roles in overstuffed tentpoles, China’s screen talents are turning down L.A. offers in search of bigger paydays, greater exposure and meatier roles at home. Throughout the 1990s and 2000s, Hong Kong’s A-list talent weren’t considered true superstars until they had made their mark in Hollywood.
Category: China
Alibaba’s Jack Ma Wants Serious Jail Time for Counterfeiters
Billionaire Alibaba-founder Jack Ma wants China’s top lawmakers to come down harder on fake goods — the very same plea voiced by global brands who’ve accused the e-commerce service of harboring knock-offs. The Alibaba Group Holding Ltd. chairman appealed to the National People’s Congress convening in Beijing this week to penalize counterfeiters as harshly as drunk drivers.
Korean Companies Face China Crisis as Missile Boycott Grows
Lotte Group , the Korean conglomerate that covers shopping malls to sweet chocolate, is under attack in China. It faces a consumer boycott that threatens to spill over and affect the products of other Korean companies.
Geely Chairman Says He Plans to Abandon Bid for Lotus Owner
Billionaire Li Shufu said he’s planning to pull Zhejiang Geely Holding Group Co. out of a bid for Proton Holdings Bhd., saying the Malaysian carmaker keeps changing its plans.
China’s Didi Said to Weigh Raising Billions in Fresh Capital
Didi Chuxing, the ride-hailing service that acquired Uber Technologies Inc.’s China business last year, has held informal talks with investors about raising billions of dollars to buy more time to build a profitable business model, according to people familiar with the matter. Didi’s investors, numbering more than 100, are divided over whether more capital is needed now, said the people, asking not to be named because the matter is private.
China says it has received its largest foreign drone order: Xinhua
An undisclosed buyer has placed the largest overseas order for China’s home-developed military drones, the Xinhua news agency has reported, in a boost for the Chinese arms industry’s efforts to increase export volumes. The order for the Wing Loong II was placed before the next-generation unmanned aerial vehicle successfully completed its maiden flight, Xinhua said late on Monday, citing the system’s developer Chengdu Aircraft Design and Research Institute.
China Box Office: ‘Resident Evil: The Final Chapter’ Debuts to Massive $33M
Beijing-based Leomus Films, the local marketing partner on the release, are now forecasting $85 million for the full weekend. Sony’s Resident Evil: The Final Chapter has opened to an enormous $33 million on its first day in China.
China Shares Up For 3rd Week
China stocks were largely unchanged on Friday, reversing earlier losses, as reform hopes underpinned the market, with the main indexes up for the third straight week thanks to improving risk appetite. The blue-chip CSI300 index was unchanged at 3,473.85 points, while the Shanghai Composite Index added 0.1 percent to 3,253.43 points.
China Shares Fall; Property Tax in Focus
China’s main stock indexes snapped a three-session winning streak to end lower on Thursday, as expectations of new asset management rules and property taxes weighed on the market. The blue-chip CSI300 index fell 0.5 percent, to 3,473.32 points, while the Shanghai Composite Index lost 0.3 percent to 3,251.38 points.
China’s thriving SUV-only automaker looks to global growth
In this Sunday, Feb. 19, 2017 photo, Wei Jianjun, chairman of Great Wall Motors Ltd. speaks during a press conference after attending a reception celebrating it sales passing the one million mark, at the Great Wall headquarters in Baoding in north China’s Hebei province. A decade ago, Wei saw opportunity as the bulky vehicles started to shed their image as a farm tool.
Sequoia-Backed China Robot Startup Said to Be Raising New Funds
Makeblock Co., a Chinese maker of DIY robotics parts, is seeking to raise funding at a $200 million valuation as the Sequoia Capital-backed startup expands into classrooms and hobbyist’s workshops globally, people familiar with the matter said. The Shenzhen-based company us seeking to raise about 200 million yuan in a series B round, the people said, requesting not to be named discussing a private matter.
Sequoia-Backed China Robot Startup Said to Be Raising New Funds
Makeblock Co., a Chinese maker of DIY robotics parts, is seeking to raise funding at a $200 million valuation as the Sequoia Capital-backed startup expands into classrooms and hobbyist’s workshops globally, people familiar with the matter said. The Shenzhen-based company us seeking to raise about 200 million yuan in a series B round, the people said, requesting not to be named discussing a private matter.
China Blue Chips Post Best Day in 6 Months
China’s blue-chip index posted its biggest daily gain in six months on Monday after media reports said pension funds may begin flowing into the country’s stock markets as early as this week. Investor sentiment was also supposed by new rules unveiled by regulators late on Friday to restrict “excessive” and “frequent” fundraising by some listed companies.
China Blue Chips Post Best Day in 6 Months
China’s blue-chip index posted its biggest daily gain in six months on Monday after media reports said pension funds may begin flowing into the country’s stock markets as early as this week. Investor sentiment was also supposed by new rules unveiled by regulators late on Friday to restrict “excessive” and “frequent” fundraising by some listed companies.
Apple Said to Weigh Chinese Supplier for Next-Gen iPhone Screens
Apple Inc. is in discussions with China’s BOE Technology Group Co. to supply next-generation displays for future iPhones, a key component that’s being provided by a Samsung Electronics Co.
Wanda Group Said to Consider Acquisition of Financial Firms
Billionaire Wang Jianlin’s Dalian Wanda Group Co. is examining potential purchases in the financial industry as the Chinese conglomerate seeks to bolster that business, people familiar with the matter said.
China Shares Rise For 4th Session, Scale 2-Month High
China’s main stock indexes rose for their fourth straight day of gains on Monday to a fresh two-month high, as the materials sector underpinned the market on the back of strong commodities. The blue-chip CSI300 index rose 0.7 percent, to 3,436.28 points, while the Shanghai Composite Index gained 0.6 percent to 3,216.84 points.
China, HK Shares Up on Commodities Rally
Chinese stocks opened the week on a firm footing on Monday and were track for the fourth straight day of gains, with sentiment boosted by strong commodities, while the Hong Kong market hit four-month highs thanks to capital inflows from the mainland. China’s blue-chip CSI300 index rose 0.7 percent, to 3,436.51 points at the end of the morning session, while the Shanghai Composite Index gained 0.6 percent, to 3,216.83 points.
Hyundai may source car batteries from China amid political tension
Hyundai Motor said on Wednesday it may procure electric vehicle batteries from Chinese companies for a planned China model after South Korean battery makers failed to make a list of approved vendors last year. The decision comes at a time of growing concern in South Korea that Beijing may be retaliating over Seoul’s decision to deploy a U.S. anti-missile system.
Take a Look at the Ford Raptor — It’s a 450 Horsepower Pickup Truck About to Take China by Storm
The upscale version of Ford’s pickup truck will be a hit with dealers in a country that’s never seen anything quite like it. Chairman Mao Tse Tung, the Communist revolutionary founder of the People’s Republic of China, in his wildest dreams couldn’t imagine Ford’s Raptor pickup truck, much less a day when his country would import them.
China Stocks Fall as Central Bank Tightens Policy
China stocks snapped a five-day winning streak on Friday after Beijing unexpectedly raised short-term interest rates on the first trading day after the Lunar New Year holiday, in a further sign it has moved to a tightening policy bias. The blue-chip CSI300 index ended down 0.7 percent at 3,365.12 points, while the Shanghai Composite Index lost 0.6 percent to 3,140.65.
Apple snaps out of iPhone slump, but for what’s next?
In this Friday, May 13, 2016, file photo, a man uses his mobile phone near an Apple store in Beijing, China. Apple Inc. reports financial results Tuesday, Jan. 31, 2017.
Fire Sparks Double Bonanza for Refiners as Fuel Profits Jump
A slew of blazes at plants across the globe is shrinking supplies and boosting profits from turning crude into products such as gasoline and diesel. At least 13 refineries, including in Ruwais in Abu Dhabi, Deer Park in Texas and Tuapse in Russia with a combined capacity of about 1.8 million barrels a day, were struck by fire this month, according to data compiled by Bloomberg.
Oil Demand at Risk as China Reins In Buyers That Bought Less
Demand from some of the most coveted oil buyers may slow this year because they didn’t purchase all that they could in 2016. While China’s private refiners have received their first batch of quotas to buy foreign crude in 2017 and may get approval to purchase more later, the amount probably won’t exceed 2016 volumes, according to JPMorgan Chase & Co.
China Said to Relax Index Futures Curbs as Market Steadies
China plans to relax curbs on stock-index futures trading that led to a 99 percent plunge in volumes and fueled concern over the government’s intervention in markets, according to people familiar with the matter. China Financial Futures Exchange will cut transaction fees, lower margin requirements for non-hedging accounts and double the number of new positions such traders are allowed to open per day, the people said.
Foxconn Billionaire Said to Assuage China About U.S. Plans
Foxconn Technology Group Chairman Terry Gou has moved to reassure China’s government the Apple Inc. assembler remains committed to the country even as it expands U.S. operations when President-elect Donald Trump takes office, people familiar with the matter said. A high-ranking Chinese official recently expressed Beijing’s concerns to Gou, the people said, asking not to be identified because the conversation was private.
Foxconn’s Gou Said to Assuage China About U.S. Investment Plans
Foxconn Technology Group Chairman Terry Gou has moved to reassure China’s government the Apple Inc. assembler remains committed to the country even as it expands U.S. operations when President-elect Donald Trump takes office, people familiar with the matter said. A high-ranking Chinese official recently expressed Beijing’s concerns to Gou, the people said, asking not to be identified because the conversation was private.
IMF raises China growth forecast but warns on debt
A worker sits by a billboard depicting the Central Business District under construction in Beijing, China, Monday, Jan. 16, 2017. The International Monetary Fund on Monday raised its growth forecast for China but warned rising debt that has prompted … Workers pause at the construction site of the Central Business District in Beijing, China, Monday, Jan. 16, 2017.
On Ericsson CEO’s Do-List: Reality Check, Then Hard Decisions
Borje Ekholm, the veteran executive brought in to turn around Swedish network-equipment maker Ericsson AB, faces tough decisions on staffing, competition and balance-sheet management that will test the former Investor AB chief’s ability to right the ship after a tumultuous 2016. Ekholm, a long-time board member at Stockholm-based Ericsson, takes over as chief executive officer on Monday at a company that saw its share price plummet 35 percent last year amid steep revenue declines, fierce competition from Chinese rivals, and dwindling carrier spending as large investments in fourth-generation wireless gear largely wound down.
Six-Hour Meeting of Chinese Tycoons Eases LeEco Cash Crunch
It took Jia Yueting just over six hours in December to snag $2.2 billion from a Chinese real estate mogul to keep LeEco afloat. In so doing, the entrepreneur secured a vital financial and strategic ally as he prepares to do battle with the likes of Tencent Holdings Ltd. and Tesla Inc. Jia’s LeEco, the sprawling conglomerate with interests ranging from electric cars and TVs to entertainment, announced Friday its cash crunch was almost over after winning 16.8 billion yuan in strategic investments, mostly from Sun Hongbin’s Sunac China Holdings Ltd. Jia declared he’ll now use the money to “far surpass” China’s three biggest internet companies: Baidu Inc., Alibaba Group Holding Ltd. and Tencent.
China’s Wanda Reports 31 Percent Increase in Film Income in 2016
But the conglomerate’s overall revenue fell for the first time in 11 years, due to a slump in its core real estate business. China’s Dalian Wanda Group, lead by the country’s richest man, Wang Jianlin, reported a 13.9 percent drop in revenue for 2016, due to a slump in the conglomerate’s core commercial property business.
China’s $3.8 Trillion Wealth Products Reel Amid Bond Rout
China’s bond market is facing more turbulence as banks scramble to avoid losses on wealth management products that raised $3.8 trillion from the nation’s savers. The investment plans typically use leverage to boost returns on the 56 percent of their holdings parked in fixed-income securities.
Guangzhou Auto Seeks to Be First Chinese Carmaker to Crack U.S.
Guangzhou Automobile Group Co., which produces cars in China with Fiat Chrysler Automobiles NV, plans to start exporting its own brand of automobiles to the U.S next year and become the first Chinese carmaker to begin retail sales to American consumers. GAC, which created its Trumpchi brand in 2010 after being a production partner for foreign carmakers for more than a decade, will start a research and development center in Silicon Valley in the first half of this year to prepare for the company’s entry to the U.S., the company’s President Feng Xingya said.
China Box Office: ‘Rogue One’ Opens to $31M, Far Behind ‘Force Awakens’
The standalone ‘Star Wars’ film could be in trouble in the Middle Kingdom, given that Sony sci-fi ‘Passengers’ opens there next weekend with backing from Beijing powerhouse Dalian Wanda Group. Rogue One: A Star Wars Story finally cruised into China over the weekend, completing its sweep of box offices around the world.
Dollar back on trend, hits two-week high vs. yen
The U.S. dollar racked up its biggest rise in more than two weeks in 2017’s first full day of European trading on Tuesday, as dealers and investors in London returned to push the greenback close to December’s long-term highs. One of January’s big question-marks, China’s yuan, was proving more stable in its more freely traded offshore markets, a bullish survey of manufacturing purchasing managers helping it 0.1 percent higher and also supporting the Australian dollar.
Dollar back on trend, hits two-week high vs. yen
The U.S. dollar racked up its biggest rise in more than two weeks in 2017’s first full day of European trading on Tuesday, as dealers and investors in London returned to push the greenback close to December’s long-term highs. One of January’s big question-marks, China’s yuan, was proving more stable in its more freely traded offshore markets, a bullish survey of manufacturing purchasing managers helping it 0.1 percent higher and also supporting the Australian dollar.
How Social Cash Made WeChat The App For Everything
A centuries-old tradition gave rise to China’s most valuable company and captured the attention of everyone from teens to Silicon Valley. A little over a year ago, my roommate Mike said something strange.
Apple Has a Lot to Lose if its Favorable Chinese Manufacturing Deals Unravel
A Thursday New York Times report provides fresh arguments. It also shows just how much Apple, and perhaps some other U.S. tech giants dependent on Chinese manufacturing, have to lose if the trade status quo with China is disrupted in a major way.
Does China Offer Plug Power a Path to Profitability?
Operating primarily in material handling equipment, Plug Power’s interest in the EV market represents a change in direction; however, management recognizes a significant opportunity. According to Andy Marsh, Plug Power’s CEO,”China has made hydrogen and fuel cell vehicles a key component of the country’s Energy Revolution Program, which includes over $100 billion in investment and runs through 2030.”
Alibaba Lawsuit Throws Spotlight on – Brushers’ Gaming Rankings
A lawsuit filed by Alibaba Group Holding Ltd. is shining a light on the fake reviews and purchases on its websites. China’s biggest e-commerce operator sued Shatui.com, which allegedly links merchants with people willing to falsify purchases and write positive comments that can drive sellers up Alibaba’s rankings.