Reuters Asia Business

By Josh Ye HONG KONG (Reuters) -China’s cyberspace regulator released on Wednesday names of the first batch of mobile app stores that have completed filing business details to regulators, signalling it has begun to enforce new rules that expand its oversight of mobile apps. A total of 26 app stores operated by companies including Tencent, …

China lists mobile app stores that comply with new rule, but Apple missing Read More »

(Reuters) -Chinese regional lender Shengjing Bank said on Wednesday it has agreed to sell a portfolio of assets, including certain loans and investments, among others, for 176 billion yuan ($24.07 billion) to Liaoning Asset Management. Liaoning Asset will fund the purchase of assets by issuing special-purpose notes to the bank, the lender said. The bank, …

China’s Shengjing Bank in $24 billion deal to sell assets to government-backed entity Read More »

By Pete Schroeder, Michelle Price and Carolina Mandl WASHINGTON/NEW YORK (Reuters) – U.S. financial firms are pushing for greater clarity on proposed new rules curbing U.S. investments in some China technology sectors which they say are too vague and put the onus of compliance on investors. Aiming to protect national security and prevent U.S. capital …

US investors want clarity on Biden’s vague curbs on China tech Read More »

SEOUL/BEIJING (Reuters) -South Korea’s LG Chem Ltd said on Wednesday it would sell its polariser businesses to Chinese firms for about 1.1 trillion won ($815.6 million) to help improve its competitiveness. The South Korean petrochemicals maker plans to sell its polariser business to Shanjin Optoelectronics (Suzhou) for 270 billion won and its polariser material business …

LG Chem to sell its polariser businesses to Chinese firms for $815 million Read More »

HANOI (Reuters) -Vietnam’s Bamboo Airways will embark on restructuring its aircraft fleet from next month to increase efficiency and optimize operating costs, the company said on Wednesday. “The restructuring process aims to stabilize Bamboo Airways’ operations and further growth opportunities,” it said in a statement sent to Reuters, adding that it aims to “increase the …

Vietnam’s Bamboo Airways says it will restructure aircraft fleet from next month Read More »

By Neha Arora BENGALURU (Reuters) – India’s NMDC is unable to export low-grade iron ore to China, the country’s biggest iron ore customer, due to logistics issues, a source with direct knowledge of the matter told Reuters. The miner did not immediately reply to a Reuters email seeking comments. “There is a severe shortage of …

Indian miner NMDC’s China exports hindered by logistics -source Read More »

BEIJING (Reuters) – China will continue to hold further auctions of its sugar reserves in the near future to ensure the stability of domestic price and supply, the state’s reserve management centre said in a notice on Tuesday. China will hold an auction of its first sale of state sugar reserves since 2016 on Sept. …

China to continue to hold further auctions of sugar reserves Read More »

(Reuters) – The chairman of China Evergrande Group has been placed under police surveillance, Bloomberg News reported on Wednesday, raising more doubts about the embattled developer’s future as it grapples with mounting risks of liquidation. Evergrande is the world’s most indebted property developer and has been at the centre of an unprecedented liquidity crisis in …

Worsening crisis at Evergrande, world’s most indebted developer Read More »

BEIJING (Reuters) – Authorities have charged China’s former deputy central bank governor, Fan Yifei, with bribery, China’s state news agency Xinhua reported on Wednesday. Fan, 59, is the highest-ranking official at the People’s Bank of China to be prosecuted under President Xi Jinping’s anti-graft drive over the past decade, in a campaign aimed at weeding …

China former deputy central bank governor Fan charged with bribery – Chinese state media Read More »