Fed's Powell: China's approach to digital currency would not work in U.S


(Reuters) -China's rapid development of a digital version of the yuan will not push the Federal Reserve to rush its own digital currency project, Federal Reserve Chair Jerome Powell said on Wednesday, adding that China's approach would not work in the United States.

Exclusive-Baidu's Jidu Auto to invest $7.7 billion in 'robot' smart cars

BEIJING (Reuters) -Jidu Auto, an electric vehicle venture between China's tech giant Baidu and Chinese automaker Geely, aims to plough 50 billion yuan ($7.7 billion) into producing smart cars over the next five years, its chief executive told Reuters.

Technology, China Apr 23 2021

China's Wanda raising $3 billion ahead of HK IPO for property management unit - sources

HONG KONG Chinese conglomerate Dalian Wanda Group aims to raise 20 billion yuan ($3.08 billion) for its commercial property management business, before listing the unit in Hong Kong by year-end, two people with direct knowledge of the matter told Reuters.

Apr 21 2021

China fines Alibaba record $2.75 billion for anti-monopoly violations

SHANGHAI/HONG KONG (Reuters) -China slapped a record 18 billion yuan ($2.75 billion) fine on Alibaba Group Holding Ltd on Saturday, after an anti-monopoly probe found the e-commerce giant had abused its dominant market position for several years. | Video

China, Technology Apr 12 2021

Record penalty for Ma's Alibaba marks tumultuous stretch for its founder

BEIJING Once seemingly untouchable, Alibaba founder Jack Ma has endured a tumultuous run that saw his Chinese e-commerce giant hit with a record 18 billion yuan ($2.75 billion) antitrust fine on Saturday, resolving one key uncertainty even as others persist for himself and his business empire.

Apr 11 2021

Special Report: Money trail from Daphne murder probe stretches to China

VALLETTA/SHANGHAI, March 29 By Stephen Grey, Engen Tham, Jacob Borg and Christoph Giesen

World, China, Special Reports Mar 29 2021

ByteDance acquires gaming studio Moonton at around $4 billion valuation: sources

ByteDance said on Monday its video games unit Nuverse has agreed to acquire Shanghai-based gaming studio Moonton Technology, as it seeks to further expand into the video games business.

Mar 22 2021

Exclusive: China's JD.com in talks to buy stake worth $1.5 billion in brokerage - sources

(This March 12 story corrects paragraph four to say JD.com is China's biggest e-commerce company by revenue, not 2nd-biggest)

Mar 15 2021

China approves $1.5 billion currency swap with Sri Lanka

COLOMBO China has approved a 10 billion yuan ($1.54 billion) currency swap with Sri Lanka, a government spokesman in Colombo said on Wednesday, giving some respite from concerns about public finances.

China's Lenovo posts record profit in third-quarter, beating expectations

SHANGHAI China's Lenovo Group, the world's biggest maker of personal computers, posted record profit and revenue in the third quarter on Wednesday, helped by robust demand from people working from home as COVID-19 restrictions persisted. | Video

Technology, China Feb 03 2021

The yuan charge

Participants wait to perform a dragon dance during a mass fitness programme outside the National Stadium, also known as the Bird's Nest, in Beijing June 20, 2009.

The Obama administration is taking China head on over the yuan. As Congress comes closer to punishing Beijing for not letting the currency strengthen more rapidly, Reuters explains the factors behind the yuan's sudden gains.   Document