China's factories, retailers stumble on COVID-19 disruptions

BEIJING (Reuters) -China’s factory and retail sectors faltered in August with output and sales growth hitting one-year lows as fresh coronavirus outbreaks and supply disruptions threatened the country’s impressive economic recovery.FILE PHOTO: An employee inspects a circuit board on the

Chinese firm buys Canada mRNA vaccine tech in $670 million deal

BEIJING (Bloomberg) – Chinese biopharma firm Everest Medicines will license an mRNA Covid-19 vaccine from Canada’s Providence Therapeutics Holdings as companies try to bring the most effective inoculation platform into China despite its apparent resistance to western shots. Everest will

Evergrande's billionaire boss exudes calm as debt risks grow

HONG KONG (Reuters) – Mingling with power brokers at celebrations to mark the centenary of the Chinese Communist Party on July 1, a beaming Hui Ka Yan showed no signs that his company, China Evergrande, was facing mounting pressure with

China approves renewable mega-project for green hydrogen

SINGAPORE (BLOOMBERG) – The Chinese region of Inner Mongolia has approved a massive power project that will use solar and wind to produce green hydrogen. Inner Mongolia’s Energy Administration has given the go ahead to a cluster of plants in

Evergrande drops further after chairman steps down from key unit role

HONG KONG (BLOOMBERG) – China Evergrande Group’s shares and bonds slid for a second day after billionaire Hui Ka Yan stepped down as chairman of the company’s onshore real estate unit. The move spooked investors already concerned about the company’s

China July Retail Sales Growth of 8.5% Disappoints

SHANGHAI–July national retail sales in China grew 8.5 percent compared to a year ago, missing expectations as the Delta variant virus outbreak and flooding in Henan weighed on the economy. While it was a disappointing month–analyst consensus was for 11.4