Hong Kong

CNOOC's CEO has said the company's ejection from the NYSE has had a “profound impact” on its shareholding structure.
Markets

CNOOC sets $4.4bn Shanghai share sale at small premium to Hong Kong

Narrow price gap could boost investor interest in 'homecoming' offering

11 April 2022
Allan Au had spent more than a decade working for public broadcaster RTHK and hosted a current affairs show (Captured image from Allan Au's Facebook page)
11 April 2022
GoTo was formed last May through a merger between Gojek, a ride-hailing and payments super app, and the e-commerce giant Tokopedia. It was the biggest merger in Indonesian corporate history. (Photo courtesy of GoTo group) 
Your Week in Asia

Indonesia's GoTo IPO, China economic data, Hong Kong's one man race

Your weekly lineup of Asia's biggest business and political events

10 April 2022
A worker stands behind barriers sealing off a residential area of Shanghai amid a coronavirus outbreak on March 29.
COVID-19 Recovery Index

China plunges in COVID Recovery Index as Shanghai cases rise

Cambodia rebounds to No. 2 but Thailand and Hong Kong sink further

8 April 2022
Richard Liu will turn his focus to long-term strategy and mentor younger managers as well as guide an initiative to revitalize rural areas. 
Retail

JD.com founder Richard Liu hands over CEO role

Transition to President Xu Lei comes as company cuts staff amid losses

7 April 2022
Hong Kong's former security chief John Lee played a critical role in cracking down on the city's pro-democracy movement.
Hong Kong security law

Hong Kong cabinet chief John Lee resigns to run for top job

Former security chief announces candidacy to succeed Carrie Lam

6 April 2022
China's National Energy Agency has set a domestic production target for the year of at least 200 million tons of crude oil.
Energy

China's Big Oil to pour cash into boosting domestic output

Capital spending to rise to highest level in 8 years amid energy security drive

6 April 2022
Hong Kong Chief Executive Carrie Lam waves to the media after delivering anti-epidemic service bags to residents during the COVID-19 pandemic. Lam will not run for a second term.
Politics

Hong Kong leader Carrie Lam not seeking second term

Chief executive's tenure saw backlash over security law, COVID outbreak

4 April 2022
Medera plans to market miniature organs to drug companies for testing to generate sustainable cash flow.
Biotechnology

Hong Kong biotech startup Medera bets on 'heart in a jar'

Company aims to cut drug development time and costs by replacing animal testing

3 April 2022
Kaisa Group Holdings was among the Chinese developers which failed to release financial results by the March 31 deadline. 
Markets

Shares of Chinese developers frozen after results deadline missed

HKEX suspends trading in 32 companies failing to release even unaudited earnings

1 April 2022
China Vanke Chairman Yu Liang, seen here in 2017, said he felt "extraordinarily nervous and uneasy" about facing shareholders. 
Property

Vanke boss sorry for profit drop as other China builders go quiet

Top developer by sales offers consolation of bigger dividend and share buyback

31 March 2022
Beijing ushered in a national security law in 2020 that saw the arrests of politicians, journalists, activists and lawyers.
Hong Kong security law

U.K. pulls judges from Hong Kong's top court over crackdown

Beijing, city blast attempt to 'undermine' judicial independence

31 March 2022
Annual contracted sales for Country Garden fell far short of the target the company set a year ago.
Property

China's Country Garden beats forecasts despite 24% profit drop

Developer pays down debt while eyeing 'new opportunities'

30 March 2022
Chinese officials such as Premier Li Keqiang, center in white, have encouraged Tencent Holdings and other companies to invest in building data centers in less developed western provinces like Guizhou.
Telecommunication

Chinese telecom groups shift focus to 'east-west' data project

Spending to support new government strategy to offset decline of 5G investment

30 March 2022
Hong Kong investment bank CLSA was known for drawing big-name speakers like former Pakistan President Pervez Musharraf to its annual investor forum.
Finance

China's CITIC Securities takes $170m write-off on Hong Kong's CLSA

Culture clash has seen many veterans depart since acquisition

29 March 2022
Goldman Sachs and Morgan Stanley are sponsors of PAG's planned IPO, according to a prospectus filed with the Hong Kong Stock Exchange.
DealStreetAsia

Asia-focused PAG files for Hong Kong IPO seen hitting $2bn

Alternative investment company seeks market cap of at least $10bn

29 March 2022
Meituan board members at the company's IPO news conference in 2018. The Chinese shopping platform will add at least one female director to its board under new Hong Kong Stock Exchange rules.
Business trends

Hong Kong Stock Exchange takes aim at boardroom 'boys' club'

Companies to list on bourse must have at least one female director by July

29 March 2022
Chinese companies see huge differences in valuation in between shares listed on the Hong Kong and Shanghai stock exchanges, with mainland investors often paying a premium for stock with the same voting rights and dividend. (Source photo by Reuters/Getty Images)
Market Spotlight

Why do Chinese investors pay more for the same shares?

Premium for mainland stocks over Hong Kong counterparts recently hit 7-year high

28 March 2022
Chinese authorities have seized these boats that were used to smuggle goods and people from Hong Kong to the mainland. (Photo by Yusuke Hinata) 
Society

COVID surge turns Pearl River smugglers into human traffickers

Hong Kongers and Chinese flee city for mainland by boat as China cracks down

27 March 2022
Half of respondents in the EuroCham survey cited “unusually high staff turnover” and difficulties in hiring overseas talent. 
Coronavirus

European companies plan to leave Hong Kong over COVID controls

Survey shows only 17% have no intention to shift operations elsewhere

25 March 2022
Online advertising revenues fell 13% in the fourth quarter for Tencent amid regulatory pressure on key client sectors.  
23 March 2022
MioTech helps clients manage and report their ESG -- environmental, social and governance -- data using algorithms derived from scanning databases, social media posts and news media.  (Screenshot from MioTech's website)
Companies

Startup MioTech hires Pinduoduo finance head to get 'IPO ready'

Company aims to double staff count amid Singapore expansion

23 March 2022
Lanvin Group plans to use its new funding to support the growth of its store network from 300 to 500, with a focus on Asia and North America.  
Business deals

China's Fosun in $1.5bn deal to sell Lanvin fashion unit to SPAC

Conglomerate indicates uncertainty about whether transaction will add to profits

23 March 2022
An aerial view of Shanghai: Property conglomerates in Hong Kong are snapping up new deals on the Chinese mainland, where homegrown developers such as China Evergrande remain mired in debt.
Property

Hong Kong tycoons eye mainland property as Evergrande woes deepen

Billionaires tread fine balance with Beijing's 'common prosperity' drive

23 March 2022
Alibaba Group's office building in Beijing. Alibaba has been boosting its stock buyback plan since an initial $6 billion program was rolled out in 2017. 
China tech

Alibaba expands share buyback offer to $25bn after record slump

Stock soars as Chinese e-commerce group says move reflects confidence in growth

22 March 2022