Asia-Pacific

The Environment Ministry has asked for budget to subsidize half of the cost of building zero-carbon data centers or upgrading existing ones.

Joins ranks of US-listed Chinese firms selling shares in Hong Kong to expand their investor bases and to hedge against deteriorating Washington-Beijing relations.

As China continues clashing with US on trade and tightens control in Hong Kong, the cloud giant plans a new strategic foothold in the region.

“We want to make our existing assets more liquid and use that to invest in new businesses.”

The pricing of the offering, led by Morgan Stanley and Citigroup, values Chindata at about $4.9 billion.

The hope is to ride a wave of investor interest for companies seen to be benefiting from the stay-at-home trend.

The rules would preclude China from forcing its companies to share overseas data and build backdoors, and from using IT to damage critical infrastructure or steal data.