The penalty will pave the way for fintech giant to become a financial holding company and eventually allow it to revive its plan for a stock market listing.

Firms across the globe are scrambling to assess the impact on supply chains from restrictions China announced this week, with a focus on finding alternatives for key components

President Xi Jinping warned his Russian counterpart against using nuclear weapons in Ukraine during his visit to Moscow in March, a new report says

Abrupt end to zero-Covid and lack of confidence in the economy and the yuan spurs rush to buy Hong Kong insurance, with policies leaping a staggering 2,686% to $9.6 billion in the first quarter

US vaccine maker says it signed agreements with Shanghai officials on developing mRNA vaccines in China. Local news outlet says it is a $1-billion deal

Chinese analysts say Yellen's speech in April, which ranked national security interests as the top plank of America's bilateral economic policy, did not inspire optimism for the visit

Japanese car giant believes it could make a solid-state battery that charges in 10 minutes and has a range of 745 miles (nearly 1,200km)

On Tuesday, the EU voiced concerns over China's planned curbs on exports of some gallium and germanium products and expressed doubts that the move was related to national security

The best first-half gains in a decade, corporate reforms and Japan's ultra-easy monetary policy supporting the economic recovery have led to a change in mindset, analysts say

Former vice commerce minister says China's countermeasures will escalate if tougher tech restrictions are imposed. Analysts say they could extend to rare earth elements.

The restriction is aimed at closing a crucial loophole in the export controls the US implemented in October that allowed Chinese AI firms to access high-end chips through the cloud

Insiders and analysts say Pan Gongsheng is known as a risk averse financial technocrat, who played a key role in crackdowns on perceived threats over the past decade