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Douyu files for US IPO: How China's answer to Twitch is really not like the US game-streaming service at all

Douyu International Holdings Limited, China’s biggest gaming-focused live streaming platform, has filed to go public in the US as it seeks to fund efforts to gain more eyeballs from the country’s younger generation.The Tencent Holdings-backed company on Monday filed for an initial public offering on the New York Stock Exchange, with plans to raise up to US$500 million to invest in e-sports content, R&D, and marketing, according to its prospectus. The filing comes almost a year after its closest… Source link

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Stocks Blog: China's stocks face headwinds as traders weigh where to place their bets

Got a bit of jitters? If so, you aren’t alone among traders in mainland and Hong Kong markets, where bears came out swinging Monday, sending the Shanghai benchmark down for the third consecutive trading day and the Hang Seng to its lowest level in nearly two weeks. Check in with us throughout the day to catch up on the latest action. We also feature our “Crystal Ball,” in which leading experts offer you their insights on where they think sectors and companies are going.  Your market guides… Source link

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Stocks Blog: China's surging credit data brightens stock outlook

Welcome back to the SCMP’s live stocks blog. Each day, we cover the mainland and Hong Kong markets closely, telling you what is happening and why. We also feature our “Crystal Ball,” in which leading experts offer you their insights on where they think sectors and companies are going. We hope you will check in with us many times a day, to keep up with the latest action and better learn these incredibly important markets. Your market guides today will be Zhang Shidong in Shanghai and Deb… Source link

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Property 

China's land auction premiums rebound as credit taps reopen to developers

Chinese developers have become more aggressive in acquiring land at auction in second-tier cities,emboldened by improved financing and a stronger sales outlook.The average land auction premium over starting bidding prices in 300 major Chinese cities monitored by property consultancy China Index Academy rose to 23.7 per cent in March, compared with 10 per cent in February.The average land premium among second tier cities reached 24 per cent during the month, while average land prices jumped 46… Source link

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China's Xinhua presents news using robot news anchor

China’s Xinhua state news agency on Sunday used a lifelike robotic news anchor that mimics human facial expressions and mannerisms to present a story about delegates attending an annual parliament meeting arriving in Beijing.The artificial intelligence (AI) robot named “Xin Xiaomeng” sported a short haircut and wore a pink blouse and earrings in a one-minute video presentation by Xinhua.China is home to more than half of world’s top AI unicorns as battle for supremacy with US heats upXin… Source link

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China 

China's January passenger car sales in biggest drop in seven as worries over economy, spending deepen

China’s passenger car sales fell 17.7 per cent last month from a year earlier to 2.02 million units, marking the lowest January sales since 2012.Data from the China Association of Automobile Manufacturers showed that there was a 15.8 per cent decline in total vehicle sales in China in January to 2.37 million units.It is the seventh straight monthly decline in the world’s largest car market, and adds to wider concerns over domestic consumption and economic growth.Global carmakers such as… Source link

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