Tag Archives: Chinas

(Bloomberg) — With China’s deflation at its worst in 15 years, a volatile stock market and bank interest rates too low for her liking, 18-year-old Tina Hong is placing her financial security in gold beans. Most Read from Bloomberg Weighing as little as one gram, the beans — and other forms of gold jewelry — are increasingly viewed as the safest investment bet for young Chinese in an era of economic uncertainty. It’s part of a larger consumer trend for all things gold — from bullion… Source link

The People’s Bank of China has cut reserve requirements for banks as Chinese officials seek to boost its economy and markets. Alibaba (BABA) Co-Founders Jack Ma and Joe Tsai reportedly acquire up to $200 million in shares. Yahoo Finance Live co-hosts Akiko Fujita and Rachelle Akuffo break down these headlines coming out China, while also taking a look at Boeing (BA) CEO David Calhoun’s meeting with US lawmakers this week to address safety and manufacturing concerns. For more expert insight and… Source link

Chinese internet company Baidu is readying the launch of its own artificial-intelligence-powered chatbot, similar to ChatGPT, according to reports.  Baidu (ticker: BIDU) plans to integrate the chatbot into its main search engine in March, as well as making an independent website for users to access the tool, The Wall Street Journal reported, citing people familiar… Source link

China’s strict zero-COVID policy complicated the global economic recovery. The country has tried to eliminate all cases of COVID-19, but three years later, frequent lockdowns and strict quarantine guidelines have led to food shortages, delayed health care, and mental health struggles. The ongoing frustrations among citizens reached a boiling point on Nov. 24, when protests erupted after a fire broke out in an apartment building in the city of Urumqi, killing 10 people during the city’s… Source link

BEIJING, Nov. 7, 2022 /PRNewswire/ — The 20th CPC National Congress report emphasized the utmost importance of advancing whole-process people’s democracy and ensuring that people run the country. People’s democracy is the lifeblood of socialism with Chinese characteristics, and it is integral to China’s efforts to build a modern socialist country in all respects. How to understand democracy in China? According to Victor Gao, Chairman of Yale Law School Association of China, philosophically… Source link

Warren Buffett’s Berkshire Hathaway (BRK-A, BRK-B) has continued trimming its large stake in Chinese automaker BYD (1211.HK), according to a filing listed today with the Hong Kong Stock Exchange. As reported by Reuters, the filing states that Berkshire Hathaway unloaded 3.297 million Hong Kong-listed shares of BYD, netting $71.35 million in proceeds. Following the sale, Berkshire’s stake in BYD dropped to 17.92% from 18.22%, still keeping Berkshire a large shareholder. However, today’s… Source link

Chinese President Xi Jinping is expected to tighten his grip on power when China’s National Party Congress convenes Sunday. A spectacle held once every five years, the 20th Party Congress marks the culmination of Xi’s ascent in many ways, with the leader poised to secure a third five-year term, making him arguably the most powerful ruler in China since Mao Zedong. But China’s sputtering economy threatens to overshadow Xi’s coronation, with the country in the midst of its slowest… Source link

(Bloomberg) — Elon Musk has teased something called “X, the everything app” after he buys Twitter Inc. Based on the billionaire’s past comments, that service could look a lot like Chinese super-app WeChat. Most Read from Bloomberg Musk didn’t provide many details beyond a one-line tweet. But the Tesla Inc. impresario has openly admired the Tencent Holdings Ltd. app that’s grown from a messaging service to a mini-internet used daily by more than a billion Chinese. He’s mused aloud… Source link

Last month, Shanghai-based billionaire Yimeng Huang—the CEO and chairman of gaming company XD—announced in a company memo that he and his family would relocate from China. The note leaked onto the internet and went viral on Chinese social media, sparking netizen discussions on the growing number of prominent businesspeople leaving China. “I’m preparing my family to move abroad by next year. It’s still a plan though, and anything can happen in a year. I’m prioritizing both my… Source link

By Yingzhi Yang and Brenda Goh BEIJING/SHANGHAI (Reuters) – Ant Group was spun off from Alibaba Group Holding 11 years ago but the two Jack Ma-founded companies had continued to collaborate closely, and even function as one company in some aspects, to maximise their competitive advantage. Since late last year, though, the duo have been taking concrete steps to set strict operational boundaries, according to sources familiar with the matter. Here are details about their shared history, and how… Source link