Ethan Zhao
Senior Reporter
The Latest
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Pony.ai Targets U.S. IPO in September Amid Autonomous Driving Boom - Report
Chinese autonomous driving startup Pony.ai is gearing up for an initial public offering (IPO) in the United States as early as September, sources familiar with the matter have revealed. The company, which has garnered significant interest from institutional investors, is making a significant move in a challenging autonomous vehicle sector. 
Chinese autonomous driving startup Pony.ai is gearing up for an initial public offering (IPO) in the United States as early as September, sources familiar with the matter have revealed. The company, which has garnered significant interest from institutional investors, is making a significant move in a challenging autonomous vehicle sector. -
Kakao Founder Arrested Over Alleged Stock Manipulation in SM Entertainment Takeover
South Korea's tech landscape was shaken on Tuesday as prosecutors arrested Kim Beom-su, the founder of Kakao Corp., on allegations of stock price manipulation. This dramatic development comes amid the high-stakes corporate battle involving the takeover of the K-pop agency SM Entertainment, a case that has significant implications for the nation's entertainment and technology sectors. 
South Korea's tech landscape was shaken on Tuesday as prosecutors arrested Kim Beom-su, the founder of Kakao Corp., on allegations of stock price manipulation. This dramatic development comes amid the high-stakes corporate battle involving the takeover of the K-pop agency SM Entertainment, a case that has significant implications for the nation's entertainment and technology sectors. -
Haier Invests 1 Billion Yuan to Expand in Africa
In the latest wave of Chinese companies expanding overseas, Haier, an established player, has made a significant move. Haier Smart Home, the appliance subsidiary of Haier Group, recently signed a transaction agreement with Sweden's Electrolux Group to acquire Electrolux South Africa Proprietary Limited (ESA), which operates in the South African water heater market. The deal, worth 2.45 billion South African Rand (approximately $1.4 billion), includes ESA's 100% equity and its appliance business personnel. The transaction is expected to close in the fourth quarter of 2024, pending regulatory approval. 
In the latest wave of Chinese companies expanding overseas, Haier, an established player, has made a significant move. Haier Smart Home, the appliance subsidiary of Haier Group, recently signed a transaction agreement with Sweden's Electrolux Group to acquire Electrolux South Africa Proprietary Limited (ESA), which operates in the South African water heater market. The deal, worth 2.45 billion South African Rand (approximately $1.4 billion), includes ESA's 100% equity and its appliance business personnel. The transaction is expected to close in the fourth quarter of 2024, pending regulatory approval. -
China Lowers Key Rates to Stimulate Economy Amid Weak Growth
In an unexpected move to bolster its faltering economy, China has reduced key interest rates, signaling a significant shift in its monetary policy. 
In an unexpected move to bolster its faltering economy, China has reduced key interest rates, signaling a significant shift in its monetary policy. -
China Condemns Japan-Taiwan Maritime Drill Amid Rising Tensions
China has expressed strong dissatisfaction and firm opposition to a recent joint maritime drill conducted by Japan and Taiwan, lodging a formal protest with Tokyo. The exercise, involving Taiwan's "Patrol No. 9" inspection ship and Japan's aircraft-carrying inspection ship "Sagami," took place near the southern tip of the Boso Peninsula and the waters around Izu Island, according to reports. 
China has expressed strong dissatisfaction and firm opposition to a recent joint maritime drill conducted by Japan and Taiwan, lodging a formal protest with Tokyo. The exercise, involving Taiwan's "Patrol No. 9" inspection ship and Japan's aircraft-carrying inspection ship "Sagami," took place near the southern tip of the Boso Peninsula and the waters around Izu Island, according to reports. -
Qin Gang and Li Shangfu Removed from Communist Party Leadership Amid Scandal
In a significant shake-up within China's political hierarchy, the Communist Party has removed its former foreign minister, Qin Gang, and former defense minister, Li Shangfu, from the party's Central Committee. This move, announced on Thursday, underscores President Xi Jinping's ongoing anti-corruption campaign, which continues to reverberate through the upper echelons of Chinese leadership. 
In a significant shake-up within China's political hierarchy, the Communist Party has removed its former foreign minister, Qin Gang, and former defense minister, Li Shangfu, from the party's Central Committee. This move, announced on Thursday, underscores President Xi Jinping's ongoing anti-corruption campaign, which continues to reverberate through the upper echelons of Chinese leadership. -
Wahaha Heiress Kelly Zong Reportedly Resigns Amid Leadership Turmoil
Zong Fuli (Kelly Zong), the daughter of the late Wahaha Group founder Zong Qinghou, has reportedly stepped down from her positions as vice chairman and general manager of the Chinese beverage giant. This development follows months of internal discord and shareholder unrest since her father's passing earlier this year. 
Zong Fuli (Kelly Zong), the daughter of the late Wahaha Group founder Zong Qinghou, has reportedly stepped down from her positions as vice chairman and general manager of the Chinese beverage giant. This development follows months of internal discord and shareholder unrest since her father's passing earlier this year. -
China Suspends Nuclear Arms Talks with U.S. Over Taiwan Arms Sales
China has halted nascent nuclear-arms-control talks with the United States in protest of Washington's arms sales to Taiwan. This move mirrors Moscow's recent stance, further complicating efforts to curb a nuclear arms race. 
China has halted nascent nuclear-arms-control talks with the United States in protest of Washington's arms sales to Taiwan. This move mirrors Moscow's recent stance, further complicating efforts to curb a nuclear arms race. -
TSMC Boosts Revenue Forecast Amid AI Demand, Rejects U.S. Joint Venture
TSMC, the world's largest contract chipmaker, has revised its full-year revenue forecast upwards, driven by soaring demand for artificial intelligence (AI) chips. However, the company firmly declined the idea of a joint venture factory in the United States, maintaining its current expansion strategy. 
TSMC, the world's largest contract chipmaker, has revised its full-year revenue forecast upwards, driven by soaring demand for artificial intelligence (AI) chips. However, the company firmly declined the idea of a joint venture factory in the United States, maintaining its current expansion strategy. -
China's Q2 GDP Misses Forecasts, Economic Stimulus Expected to Intensify
China's GDP grew by 4.7% year-on-year in the April-June period, falling short of analysts' forecast of 5.1% and marking the slowest growth since the first quarter of 2023. 
China's GDP grew by 4.7% year-on-year in the April-June period, falling short of analysts' forecast of 5.1% and marking the slowest growth since the first quarter of 2023.
