SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Air Transat Reaches Tentative Agreement With Pilots, Avoids Strike and Restores Normal Operations 
Nvidia Develops New Location-Verification Technology for AI Chips 
Westpac Director Peter Nash Avoids Major Investor Backlash Amid ASX Scrutiny 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
EU Court Cuts Intel Antitrust Fine to €237 Million Amid Long-Running AMD Dispute 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Evercore Reaffirms Alphabet’s Search Dominance as AI Competition Intensifies 
CJ CheilJedang Corporation has sold its shares in Sichuan Jixiangju Food, a Chinese food production company, for KRW300 billion or about $235.8 million. The South Korean firm said on Monday, July 31, that it has unloaded all of its 60% shares in the China-based company.
CJ CheilJedang bought a total of 60% stake in Sichuan Jixiangju Food on two occasions. The first was in 2011, and the second was in 2016. The company invested $38.5 billion for the combined purchases, as per Yonhap News Agency.
It was reported that Sichuan Jixiangju Food is one of the two Chinese food companies that CJ CheilJedang owns and operates in China. The other firm is CJ Qingdao Foods which is focused on the production and distribution of its own Korean food products.
With the removal of Sichuan Jixiangju Food from its portfolio, CJ Cheiljedang said it will now put more time and effort into the expansion of its food business in China. Its CJ Qingdao Foods unit will release various K-food items, including dumplings, fried chicken, rolls, kimchi, Korean sauces, seaweed, and rice.
Aju Business Daily reported that before the food business unit of the CJ Group sold Jixiangju, it had already reached sales of around KRW291 billion. But even so, the company is determined to work more on its Korean food business; thus, the sell-off plans pushed through.
CJ CheilJedang said its Chinese subsidiary was sold to several investors instead of just one. It refused to name the buyers but shared that one of them is the second largest stakeholder of Sinchuan Jixiangju.
"We are unable to provide the names of buyers as we have agreed to not reveal them," the company’s spokesperson, Bae Gee Yo, told Aju Business Daily.
Photo by: CJ CheilJedang Website
