Reuters Asia Business

How does PDD stack up against other big China e-ecommerce firms?

2 Sep 2024

By Casey Hall SHANGHAI (Reuters) -Shares of China’s biggest e-commerce companies – Alibaba, JD.com and PDD Holdings – were dumped earlier this week on worries about pressure on their margins after low-price vendor PDD pledged to invest more for offering discounts. The three firms sell everything from beauty products, household items, electronics and food to …

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South Korea police launch probe into whether Telegram abets online sex crimes, Yonhap reports

2 Sep 2024

SEOUL (Reuters) -South Korean police have launched an investigation into Telegram that will look at whether the encrypted messaging app has been complicit in the distribution of sexually explicit deepfake content, Yonhap news agency said on Monday. Yonhap quoted the head of the National Office of Investigation. The office’s cyber investigation bureau declined to comment …

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China Aug manufacturing up but export outlook slips, Caixin PMI shows

2 Sep 2024

BEIJING (Reuters) -China’s manufacturing activity swung back to growth in August as new orders drove production, a private sector survey showed on Monday, offering a glimmer of hope amid a string of dismal economic data this summer. However, the first decline in new export orders in eight months sounded the alarm following tamer exports data …

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Silicon Valley Bank exits China joint venture, local partner takes full control

2 Sep 2024

(This Aug. 31 story has been corrected to clarify Silicon Valley Bank exited its China join venture, not that it was bought out by a local partner, in the headline and paragraph 3) BEIJING (Reuters) – Silicon Valley Bank’s Chinese joint venture will become a wholly owned unit of Shanghai Pudong Development Bank, following approval …

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Analysis-China’s economic malaise seen accelerating obesity rates

2 Sep 2024

By Farah Master and Andrew Silver HONG KONG/SHANGHAI (Reuters) – As China builds fewer houses and bridges, its consumers buy cheaper, less-healthy meals, and as factories and farms invest in automation, a new fiscal challenge is emerging: the country’s obesity rate may grow much faster and add to healthcare costs. Job stress, long work hours …

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South Korea exports extend gains to 11th month, growth slows

1 Sep 2024

SEOUL (Reuters) – South Korea’s exports rose for an 11th straight month in August, but the pace of growth was weaker than the previous month and market expectations as demand for computer chips slowed, while auto sales remained sluggish. Overseas sales by Asia’s fourth-largest economy rose 11.4% year-on-year to $57.90 billion, trade data showed on …

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Frustration deepens two years after UN report on China abuses

31 Aug 2024

By Emma Farge GENEVA (Reuters) – Human-rights groups and the United Nations are using Saturday’s two-year anniversary of a landmark U.N. report to call for action on the document which said that China may have committed crimes against humanity in the Xinjiang region. U.N. High Commissioner for Human Rights Michelle Bachelet released the report on …

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