Chinese gaming company NetEase to launch $2.5bn Hong Kong stock sale

HONG KONG — Chinese game developer NetEase is set to kick off the sale of up to $2.5 billion in new shares in Hong Kong on Monday, in what would be the biggest stock offer in the city so far this year.

But NetEase’s offering is likely to be overtaken by that of Chinese online shopping service, which plans to seek up to $3 billion a week later.

Both companies are already listed in New York, but secondary listings in Hong Kong will give them flexibility amid moves by U.S. politicians that could force some Chinese companies to delist

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China aims to launch digital yuan by 2022 Winter Olympics

BEIJING — China seeks to have its planned sovereign digital currency ready in time for the 2022 Winter Olympics here, the central bank revealed Tuesday, as the coronavirus pandemic accelerates a shift away from cash.

The government plans to run pilot tests at Olympic venues, though there remains no official timetable for a release, People’s Bank of China Gov. Yi Gang told Chinese media in an interview released by the central bank. Limited trials are underway in Shenzhen, Suzhou, Chengdu and the Xiongan New Area in the northern province of Hebei, he said.

If the government is satisfied with the

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Coronavirus upsets Japan 5G launch

TOKYO — The coronavirus outbreak has upset efforts by Japan’s mobile phone carriers to attract new 5G customers, forcing them to curb store operations and cancel promotional events.

The country’s top three carriers — NTT Docomo, KDDI and SoftBank Corp — rolled out 5G services in late March ahead of Japan’s new fiscal year, which started in April, and the Golden Week holiday which lasted from the end of April until early May.

But top executives were muted about the initial response to 5G in recent earnings calls. “It was a so-so start,” SoftBank CEO Ken Miyauchi told reporters on

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Pandemic grounds launch of Japan’s IHI jet engine repair shop

TOKYO — IHI, Japan’s top maker of aircraft engine parts, will push back the opening of a new production and servicing center as the coronavirus pandemic sends shock waves through the aviation industry.

The launch of the facility in Saitama Prefecture near Tokyo, IHI’s first new plant in 21 years, had been slated for this year but will now be delayed roughly six months.

The 25 billion yen ($234 million) plant was intended to expand IHI’s commercial jet engine operations by capitalizing on growing demand for maintenance. Aircraft engines have 300,000 components and a life cycle of 20 years or

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