China Inc by BBW

Alibaba and JD.com break up, and China’s growing love affair with Saudi Arabia

Alibaba announces a plan to split into six parts, and JD.com says it’ll spin off its commercial and real estate arms. And Saudi Arabian announces two new multibillion-dollar oil refining investments in China.

Auto price wars, and the China-Hong Kong stock connect expands

Price wars break out as car makers in China, from Volkswagen to BYD, scramble to clear inventory. And foreign names like Samsonite and L’Occitane join the China-Hong Kong stock connect program, but no one is buying.

New premier vows private sector support, and foreigners return to China

Li Qiang vows his “unequivocal and steadfast” support for China’s private sector in some of his first remarks as premier, and China resumes issuing visas for foreign business travelers and tourists.

China’s space ambitions, and Evergrande’s ‘Lehman moment’

China builds a low Earth orbit satellite constellation to rival Elon Musk’s Star Link. And Evergrande faces a potential “Lehman moment” as it fails to negotiate new terms for its massive debt with key creditors ahead of a key court date.

Everyone loves a party: China sees 5% growth at annual ‘Two Sessions’

China says it will target relatively modest GDP growth of “about 5%” this year, as it focuses on “quality growth” over “growth at any cost” in the post-pandemic era.

China Loses Its Taste for Luxury, and Popeyes Finds a New China Partner

China’s luxury market shrank by 10% last year, marking its first contraction in at least five years. And less than three years after opening its first China store, fast food chain Popeyes is dumping its original partner in the market and signing on with the local operator of the fast-growing Tim Hortons donut chain.

Economic Mixed Signals, and JD.com’s Southeast Asian Misadventure

China’s purchasing manager’s index fell 0.8% in January, but the consumer price index rose 2.1%. And JD.com is officially withdrawing from Southeast Asia by announcing it will close its shops in Indonesia and Thailand.

China Tour Groups Return to the World, and China Inc.’s Latest Fundraising Frenzy

Chinese tourists return to the world en masse with the resumption of group tours from China on February 6. And eight U.S.- and Hong Kong-listed Chinese companies collectively raised more than $2 billion through new share and bond issues in January.

Foreign Money Floods Into China Inc., and Alibaba Picks Up an Activist Investor

A record $12.7 billion flowed into emerging debt and equity funds over a three-day period in mid-January, as investors rediscovered China after a nearly two-year lull. And an activist investor is lobbying Alibaba to buy back more of its stock. But will Alibaba listen?

New Year travel rush returns to China, and so does Australian coal

Millions of Chinese are taking to the road to go home for the Lunar New Year holiday, resuming the world’s largest annual human migration after a three year pandemic-induced pause. And Australian coal imports are also making a return to China after a similar hiatus, as the two countries look to reboot relations after a frosty period.