Reuters Asia Business

By Daniel Leussink TOKYO (Reuters) -Shareholder backing for Toyota Chairman Akio Toyoda slid for a second straight year, results from its annual general meeting showed on Wednesday, with his support rate dropping to 72% amid certification scandals and governance concerns. The result marks the lowest level of backing for Toyoda, the grandson of the company’s …

Toyota’s chairman sees shareholder backing slide to 72% amid governance concerns Read More »

By Casey Hall and Sophie Yu SHANGHAI (Reuters) -Sales fell for the first time ever at China’s blowout mid-year e-commerce sales festival as consumers remain cautious about spending as the economy sputters, according to third-party data estimates released on Wednesday. Combined gross merchandise volume (GMV), a widely used proxy for e-commerce sales, reached 742.8 billion …

More worries for China, sales at big e-commerce festival drop for first time Read More »

By Clare Jim and Xie Yu HONG KONG (Reuters) -The chairman of defaulted Chinese developer Kaisa Group returned to mainland China from Hong Kong for the first time in almost a decade to get regulatory approval for an offshore debt restructuring, two sources familiar with the matter said. Chairman Kwok Ying Shing travelled to the …

Exclusive-Kaisa chairman returns to Shenzhen to meet regulators, sources say Read More »

BEIJING (Reuters) -China’s securities regulator said on Monday it has approved autonomous driving startup Momenta Global Limited’s initial public offering (IPO) in the United States. Momenta plans to issue up to 63,352,856 ordinary shares and list on the Nasdaq Stock Market or the New York Stock Exchange, the regulator said in a statement. China in …

China approves autonomous driving startup Momenta’s US IPO Read More »

HONG KONG/BEIJING (Reuters) – China’s Ministry of Industry and Information Technology on Wednesday issued new guidelines for its lithium-ion battery industry, aiming to transform, upgrade and promote high-quality development amid rapid expansion in the sector. The guidelines, following a proposal in May, will help firms scale back manufacturing projects that only expand production capacity, while …

China to regulate lithium-ion battery industry amid fast expansion Read More »

By Nora Eckert DETROIT (Reuters) – Legacy U.S. automakers such as Ford Motor and General Motors should leave the China market to preserve capital amid the costly electric vehicle (EV) transition, a leading auto analyst said on Tuesday. “I think you have to see the [Detroit Three] exit China as soon as they possibly can,” …

Detroit Three automakers should exit China, leading analyst says Read More »

SHANGHAI (Reuters) -China’s securities regulator said on Tuesday it will strengthen regulation of all financial activities and prevent and resolve risks, in a move to improve and reform financial markets amid a wobbly economic recovery. The China Securities Regulatory Commission (CSRC) said in a statement it will maintain a “zero-tolerance” stance on illegal activities in …

China securities regulator vows to strengthen oversight, resolve risks Read More »