China’s top courier breaks ties with Alibaba’s logistics giant – China’s latest business and technology news

SF Express (顺丰速运 shùnfēng sùyùn), China’s largest delivery firm, and Cainiao Networks (菜鸟网络 càiniǎo wǎngluò), the Alibaba-owned logistics operating giant, have broken ties over a data dispute. SF became uncomfortable with repeated requests for data from its partner Cainiao, which handles logistics for over 80 percent of express courier packages in China, and on May 31 became the first part of Cainiao’s network to break a logistics arrangement, Caixin reports. SF made headlines in February this year when its founder, Wang Wei 王卫, became China’s third-richest man practically overnight as his company enjoyed a wildly successful listing on the Shenzhen Stock Exchange.

• China flips the switch on world’s biggest floating solar farm / SCMP
  “Plant occupies flooded area once used for coal mining and can generate 40 megawatts of electricity — enough to power 15,000 homes.”
• China’s new-energy vehicle sales fire on all cylinders / Caixin
  A look at how government tweaking of subsidies for electric cars affects sales numbers.
• Wages for China’s newest college grads are plummeting / Bloomberg
• China’s largest bitcoin exchanges allow withdrawals again / Bloomberg
• Chinese insurer Anbang denies report that chairman not able to leave China / Reuters
  “Wu Xiaohui, the chairman of Anbang Insurance Group, is free to travel, a spokesman for the Chinese insurer said on Friday, denying a report that Wu had been prevented from leaving China. The Financial Times reported that Wu had been stopped from leaving the country, citing four sources who have had business dealings with him.”
• China to ease foreign investment restrictions on automobile sector / Caixin
• Yuan forecasters getting it wrong as China jolts markets / Bloomberg
• Former head of Chinese steel company with links to Australia jailed / Sydney Morning Herald