Amazon.com plans to spend US$9 billion to expand its cloud computing infrastructure in Singapore, the latest global technology company to boost investment in Southeast Asia. The outlay, to be done over the next four years, doubles the investment of subsidiary Amazon Web Services (AWS) in Singapore and helps it meet growing customer demand for cloud
Shenzhen, China’s technology hub, said it has lowered the thresholds for the personal income tax and social insurance payments of non-local individuals and families seeking to buy a property in certain districts, while allowing local families with two or more young children to buy additional homes in those areas. The city lowered its down-payment requirements
Huawei Technologies Co., the Chinese telecommunications giant blacklisted by the U.S., is secretly funding cutting-edge research at American universities including Harvard through an independent Washington-based foundation. Huawei is the sole funder of a research competition that has awarded millions of dollars since its inception in 2022 and attracted hundreds of proposals from scientists around the
UK money manager M&G Investments is actively exploring opportunities to enter China’s US$18 trillion fund management market, aiming to be the platform for diversification, a role abandoned by some rival firms over the past few years. The strategic move aligns with the London-based company’s decision to expand its presence in Asia through local partnerships, given
“Everyone, from the top brass to people like us in middle ranks, earn less than before,” said a credit manager with Bank of China, one of the country’s “big four” state-owned banks, lamenting the loss of the staggering bonuses that she used to bag in the industry’s heyday. China’s financial sector is always beholden to
The fund will underpin promising start-ups in the fields of artificial intelligence, biotechnology and semiconductors, and is expected to attract more technology firms to Shanghai, the municipal government said in a statement on Friday. The local state-owned assets watchdog will be responsible for the fund’s establishment and operations. It will be the city’s largest government-backed
(Bloomberg) — China relaxed rules governing cross-border data flows, addressing a key concern of foreign businesses that had complained previous regulations were disrupting their operations. Most Read from Bloomberg Data collected in international trade, cross-border travel, manufacturing, academic research, and marketing that don’t contain either personal information or “important” information will be exempt from security
Chinese workers stand in front of the Eiffel tower replica at Tiandu Cheng, a Parisian-themed … [+] resident development. (Photo by Jackson Lowen/Construction Photography/Avalon/Getty Images) Getty Images Not many days ago, rumors surfaced about Beijing’s grand plans to take over huge swatches of China’s residential property market. If Beijing were to go this route, it
An artwork juxtaposing Chinese yuan cash bills with the China’s flag Javier Ghersi | Moment | Getty Images China’s financial institutions should provide strong support to the country’s beleaguered real estate sector and not “blindly withdraw” financing for projects facing difficulties, according to a senior Chinese financial regulatory official. His strongly worded comments follow the
The transactions of new homes in Beijing jumped 38.5 per cent year on year to 6,106 units in December, bringing the total volume of new homes sold across the city to 66,000 units, or 74.9 million square metres. Meanwhile, new home prices rose by 0.17 per cent year on year and the prices of pre-owned