Cao Li
Senior Correspondent at South China Morning Post
Senior Correspondent @SCMPNews. Previously @WSJ and @nytimes. [email protected] DM for signal
Articles
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1 week ago |
scmp.com | Cao Li
Last year, the world added more than 684,000 new millionaires, with China generating 380 millionaires a day, UBS wealth report says.
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2 weeks ago |
scmp.com | Daniel Ren |Hannah Wang |Cao Li
Chinese electric vehicle (EV) maker Xpeng aims to start offering Hong Kong consumers smart cars featuring semi-autonomous driving systems next year as it gears up to take on Tesla’s FSD (Full Self-Driving) feature outside mainland China. He Xiaopeng, co-founder and CEO of the Guangzhou-based carmaker, said in Hong Kong on Thursday that testing of its Xpeng Navigation Guided Pilot (X NGP) driver-assistance system in the city would take only two months before sales could begin.
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3 weeks ago |
scmp.com | Daniel Ren |Cao Li
When Yan Jun was looking around last year for a stock market to raise capital for his Beijing-based traffic-control software company, the engineer and chairman thought he was spoiled for choice. He could sell shares of his 10-year-old company AICT on one of the three mainland exchanges – Beijing, Shanghai and Shenzhen – that together make up the world’s second-biggest capital market, with a combined value of US$10 trillion, according to Bloomberg data.
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3 weeks ago |
scmp.com | Cao Li
China Renaissance, which has funded many leading Chinese technology firms, made another winning bet after shares of stablecoin issuer Circle Internet Group more than doubled on their debut in New York. The Chinese investment bank said in a filing to the Hong Kong stock exchange on Friday that it had invested in Circle, which was founded in 2013, in 2018 through its Huaxing New Economy Fund.
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3 weeks ago |
scmp.com | Cao Li |Daniel Ren
Citigroup is laying off 3,500 technology staff in mainland China as part of its global effort to streamline operations and reduce costs, while pledging its commitment to corporate and institutional clients in the world’s second-largest economy. The affected employees, who provide technology support for operations in the Asia-Pacific region, are based in Shanghai and Dalian in the northeastern province of Liaoning, according to a statement on Thursday.
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