Page 19 - Wang Xing News Today

It took just 28 Chinese characters on a social media platform to ignite a controversy that's rattled China's tech industry.. Read more at straitstimes.com.

China is growing fast — but the workforce powering its economic rise is shrinking.

CEO’s Post of Ancient Poem Interpreted as Criticism of Beijing Rattles Stock Market A Chinese billionaire rattled the stock market by quoting an ancient poem on social media, reflecting on the fall of the Qin Dynasty—the first empire in China. Although the post was later deleted, his company’s stock plunged to a new low of the year. “The Book Burning Pit,” read as “Fen Shu Keng” in Chinese, was a seven-character quatrain written by Tang dynasty poet Zhang Jie, questioning the tyra...

BBC News Published image copyrightGetty Images Shares in Chinese food delivery giant Meituan have fallen sharply after its boss reportedly shared a 1,000-year-old poem on social media. The Book Burning Pit by Zhang Jie was posted, then deleted, by the firms billionaire chief executive, Wang Xing. The Tang dynasty poem was interpreted as a veiled criticism of President Xi Jinpings government. Meituan is currently under investigation over allegations of abusing its market dominance. The company i...

China tech giants shares slide over ancient poem © Getty Images Shares in Chinese food delivery giant Meituan have fallen sharply after its boss reportedly shared a 1,000-year-old poem on social media. The Book Burning Pit by Zhang Jie was posted, then deleted, by the firms billionaire chief executive, Wang Xing. The Tang dynasty poem was interpreted as a veiled criticism of President Xi Jinpings government. Meituan is currently under investigation over allegations of abusing its market domin...

Shares in Meituan, China’s largest food delivery platform, have tumbled after its chief executive posted – and then deleted – an ancient poem in a move widely seen as possible criticism of the Chinese government. Authorities are investigating the company over allegations of anti-monopolistic behaviour, part of a wider crackdown on technology companies. Meituan’s stock price lost 5.3% on Tuesday and plunged as much as 9.8% on Monday after its chief executive Wang Xing posted the classica...

Meituan Shares Sink as Much as 9% After Consumer Council Report Bloomberg News, Bloomberg News Food delivery couriers for Meituan gather around motorcycles in Beijing, China, on Wednesday, April 21, 2021. Chinese delivery giant Meituan has raised $9.98 billion from a record top-up placement and a convertible bonds sale as it doubles down on efforts to fight the likes of Alibaba Group Holding Ltd. in newer areas such as online groceries. Photographer: Yan Cong/Bloombe...

* HSI -2.0%, HSCE -2.1%, CSI300 +0.6% * FTSE China A50 +1.1% May 11 (Reuters) - Hong Kong stocks fell on Tuesday to a seven-week low, tracking an overnight tech sell-off on the Wall Street, while persistent anti-monopoly fears also weighed on tech giants listed in the Asian financial hub. The Hang Seng index fell 2.0% to 28,013.81, lowest closing since March 25, while the China Enterprises Index lost 2.1% to 10,431.55 points. Leading the retreat, the Hang Seng tech index slumped as much as 4.5%...

SINGAPORE — Shares in Meituan, China’s largest food delivery platform, have tumbled after its CEO posted —and then deleted — an ancient poem in a move widely seen as possible criticism of the Chinese government. Authorities are investigating the company over allegations of anti-monopolistic behavior, part of a wider crackdown on technology companies. Meituan’s stock price lost 5.3% on Tuesday and plunged as much as 9.8% on Monday after its CEO Wang Xing posted the classical Tang dy...

Shares in Meituan, China’s largest food delivery platform, have tumbled after its chief executive posted – and then deleted – an ancient poem in a move widely seen as possible criticism of the Chinese government. Authorities are investigating the company over allegations of anti-monopolistic behaviour, part of a wider crackdown on technology companies. Meituan’s stock price lost 5.3% on Tuesday and plunged as much as 9.8% on Monday after its chief executive Wang Xing posted the classica...