The US senate overwhelmingly approved legislation on Wednesday that could lead to Chinese companies such as Alibaba Group and Baidu being barred from listing on US stock exchanges.
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ByteDance’s valuation has risen at least a third to more than $100-billion in recent private share transactions, people familiar with the matter said.
The Covid-19 pandemic likely barely dented Tencent Holdings’ growth. The bigger long-term threat may be the growing posse of challengers to its Internet leadership.
Alibaba Group will invest $28-billion on cloud infrastructure such as data centres over the next three years, a major effort to extend one of its fastest growing businesses to more countries.
Tencent’s quarterly earnings missed estimates after China’s economic slowdown eroded its core gaming business and the cost of fending off ByteDance and other rivals rose.
China’s ByteDance created one of the country’s rare global hits with the addictive video app TikTok. Now the US government is threatening that success as officials in Washington warn the service presents a security threat.
Samsung is investing heavily in the next step in miniaturising semiconductors, a process called extreme ultraviolet lithography. It’s by far the priciest manufacturing upgrade Samsung has ever attempted.
While the US-China trade war rages on, the tensions are exposing growing rifts between China and Silicon Valley.
Jack Ma, the co-founder of Alibaba Group, said African entrepreneurs will find countless opportunities in e-commerce, logistics and e-payments as the continent prepares for the start of a free-trade deal.
Richemont and Alibaba Group’s luxury joint venture has gone live in China, presenting 130 brands in one location on the Tmall e-commerce site.