China News

Mergers & Acquisitions

Skycorp Solar Group consolidates 100% of Nanjing Cesun in 20.2 million USD deal to verticalize operations

Skycorp Solar Group has agreed to acquire the remaining 56% stake in Nanjing Cesun Power for $20.2 million via stock issuance. Simultaneously, the company secured $3 million through a private placement with institutional investors to fund its expansion into energy management and inverter production.

4 weeks ago • China

Investments & Funding

Pulnovo Medical raises $100m strategic round led by Medtronic

Pulnovo Medical has closed an oversubscribed $100 million financing round led by Medtronic, with existing and new investors including HSG, to advance its Pulmonary Artery Denervation system for pulmonary hypertension and heart failure.

1 month ago • China;United States

Renewable Energy

Sineng Electric powers 300 MW storage project to manage renewable curtailment in Gansu

A 300 MW / 1,200 MWh standalone battery energy storage project equipped with Sineng Electric's central PCS has entered commercial operation in Zhangye City, Gansu Province. The four-hour long-duration system is expected to reduce curtailed wind and solar generation by over 79 million kWh annually while providing grid ancillary services.

1 month ago • China

Investments & Funding

Alibaba backs ‘world models’ as llms hit physical reality limits

Alibaba Cloud has led a $290 million investment in startup ShengShu to advance ‘general world models’ using video and physical data. The move signals a strategic pivot beyond text-based LLMs, targeting applications in robotics, autonomous driving, and digital-physical integration.

2 months ago • China

Engineering & EPC

SLB OneSubsea secures CNOOC contract for integrated subsea systems at Kaiping field

SLB's OneSubsea joint venture has been awarded an EPC contract by CNOOC to supply subsea production systems for the Kaiping 18-1 field in the South China Sea. The 20-well project includes standardized trees, manifolds, and control systems, with installation support and regional supply-chain integration.

2 months ago • China

Banking

China allocates $44 billion capital infusion to state banks to strengthen financial stability and support technology sector

China plans to inject 300 billion yuan ($44 billion) into major state-owned banks in 2026 as part of broader efforts to reduce financial system risks and expand funding for technology development. The move signals Beijing’s intent to reinforce banking resilience while accelerating strategic industries amid growing geopolitical competition.

3 months ago • China

Pharmaceuticals

Pfizer enters exclusive global agreement with YaoPharma for GLP-1 obesity drug candidate

Pfizer has entered an exclusive global licensing agreement with YaoPharma for YP05002, an oral GLP-1 receptor agonist in Phase 1 for chronic weight management. The deal includes a USD 150 million upfront payment and potential milestone payments of up to USD 1.935 billion.

3 months ago • China;United States

Chemicals & Fertilizers

WACKER and SICO opens organofunctional silanes development centre in China

WACKER and its joint-venture partner SICO Performance Material have inaugurated a 2,300-square-meter application development center in Jining, China, focused on organofunctional silanes. The facility is designed to accelerate additive innovation and commercialization for plastics, coatings and adhesives industries across high-growth Asian markets.

3 months ago • China

Mergers & Acquisitions

JD acquires majority stake in Ceconomy in strategic European retail expansion

JD secures 59.8% stake in German electronics retailer Ceconomy, with total control reaching 85.2% alongside partner Convergenta. The deal, pending regulatory approval, marks JD's strategic move into overseas markets.

3 months ago • China