Tag Archives: China

(Bloomberg) — China’s chip industry is growing faster than anywhere else in the world, after US sanctions on local champions from Huawei Technologies Co. to Hikvision spurred appetite for home-grown components. Most Read from Bloomberg Nineteen of the world’s 20 fastest-growing chip industry firms over the past four quarters, on average, hail from the world’s No. 2 economy, according to data compiled by Bloomberg. That compared with just 8 at the same point last year. Those China-based… Source link

China has urged the International Monetary Fund to approve a US$1.4 billion bailout for Zambia but the fund responded by telling Beijing and other official creditors they must first agree a relief package. Lusaka is seeking a bailout from the IMF and is also in the process of restructuring about US$17.3 billion of external debts, including from its largest bilateral lender – China. In November 2020, it became the first African country to default on some of its dollar-denominated bonds during… Source link

Chinese ride-hailing giant Didi Global will start trading on the over-the-counter market (OTC) on Monday, more than two weeks after its shareholders voted to delist the company from the New York Stock Exchange (NYSE) where it raised US$4.4 billion last year in a public listing that angered Beijing. That move was announced on Friday in the US by Chicago-based Options Clearing Corp, the world’s largest equity derivatives clearing house, which said the Chinese firm’s trading symbol will change… Source link

(Bloomberg) — US-listed China stocks surged Monday to the highest since early April on increased speculation that a year-long government crackdown on the technology industry is easing. Most Read from Bloomberg While the S&P 500 Index struggled to mount much of an advance, the Nasdaq Golden Dragon Index closed 5.4% higher after surging as much as 8.3%, as Chinese regulators were said to be close to wrapping up their investigation of Didi Global Inc. The company’s American depositary receipts… Source link

(Bloomberg) — Few companies are better positioned to benefit from the crippling shortage of computer chips than ASML Holding NV, a Dutch manufacturer whose equipment plays an integral role in making the world’s most advanced semiconductors. Most Read from Bloomberg But four lines tucked halfway into an otherwise upbeat, 281-page annual report from February hinted at a potentially incendiary problem. ASML accused a Beijing-based firm, regarded by Chinese officials as one of the country’s… Source link

Rongtong Fund Management, which was once part of Xiao Jianhua‘s Tomorrow Group, has unveiled a management reshuffle, marking its official exit from the missing Chinese magnate’s embattled financial empire. Zhang Wei was named Rongtong’s chairman on Friday, taking over from Gao Feng who resigned citing personal reasons after seven years in the position, according to a statement issued by the asset management firm. Zhang is also the chairman of New Times Securities, which owns Rongtung, and was… Source link

(Bloomberg) — Investors should be ready for China’s stocks to outperform as potential positive catalysts loom, according to Europe’s largest asset manager Amundi SA. Most Read from Bloomberg The firm is turning more bullish on the country’s equities market after trimming exposure during the first quarter’s harsh selloff, according to Vincent Mortier, Amundi’s chief investment officer. Key developments to watch include the potential rollout of a homegrown mRNA Covid-19 vaccine and… Source link

In a mountainous Guangdong provincial city best known for its masonry and quarries, Yunfu is quietly carving out a niche in the global supply of hydrogen fuel-cell vehicles, a revolutionary propulsion system crucial to help the world cut greenhouse gases. At Guangdong Nation Synergy Hydrogen Power Technology, or Sinosynergy, workers were seen during a recent visit installing storage bottles and hydrogen fuel stacks on a vehicle before its delivery to Ningxia province in northwestern China. The… Source link

(Bloomberg) — Citigroup Inc. strategists cut their recommendation on US stocks to neutral on the risk of a recession, joining an increasing number of banks in warning of a growth slowdown. Most Read from Bloomberg The market is showing “elements of a deflating bubble” with high uncertainty and the lack of reassurance from the Federal Reserve, strategists including Dirk Willer wrote in a May 27 note. “Given that it will likely take time for the Fed to react to equity and growth weakness,… Source link

Apple’s value chain in China, an emblem of the country’s global role as a source of labour and assembly, has been hit hard by strict lockdowns in Shanghai and neighbouring provinces, raising the risk that the US tech giant may accelerate a shift of its operations away from China, say analysts. While it is hard to put an exact figure on the losses resulting from the disruption to transport and production along Apple’s extensive value chain in China, chief financial officer Luca Maestri told a… Source link