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☆ ‘I feel like I've been tricked’: Some property buyers in China’s Tianjin have been waiting 8 years for their homes
▼ + stars: | 2024-05-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

As is common in China, the apartment complex in Tianjin sold the units before they were completed. Their concerns are just one example of the wider challenges that persist in pockets of China's property sector. Following early efforts to recoup their money or to garner information about their property purchases, a few buyers said police visited their homes, sometimes in the middle of the night. "I feel like I've been tricked this whole time," one buyer said in Mandarin, translated by CNBC. In all, Nomura estimated late last year that there are around 20 million unconstructed and delayed pre-sold homes in China.

Persons: Wu Qing, Fred Dufour, I've, Dan Wang, Evergrande, Nomura Organizations: Afp, Getty, BEIJING, CNBC, Hang Seng Bank Locations: Tianjin, Beijing, China

☆ China: Focus more on domestic stocks but don't ignore the globally focused ones, says MarketVector
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina: Focus more on domestic stocks but don't ignore the globally focused ones, says MarketVectorSteven Schoenfeld, CEO of MarketVector Indexes, discusses the outlook for the Chinese and Indian markets.

Persons: MarketVector Steven Schoenfeld Organizations: China

☆ McNeal: Real estate is still an overhang for China's economy
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMcNeal: Real estate is still an overhang for China's economyDewardric McNeal, Managing Director and Senior Policy Analyst at Longview Global, discusses consumer demand, new tariffs, and global tensions in China.

Persons: McNeal, Dewardric McNeal Organizations: Longview Global Locations: Real, Longview, China

☆ Chinese Woman Jailed for Reporting on Covid Set to be Freed
▼ + stars: | 2024-05-13 | by ( Vivian Wang | ) www.nytimes.com time to read: +1 min

But in a sign of how eager the Chinese government remains to suppress public discussion of the outbreak, it was unclear on Monday evening whether Ms. Zhang, 40, had actually been set free. The lawyer who represented Ms. Zhang during her trial, Zhang Keke (the two are not related), said he could not reach her mother all day. The group, which gave Ms. Zhang a press freedom award in 2021, noted that journalists released from imprisonment in China are often kept under surveillance. Ms. Zhang was an early symbol of the mistrust that many Chinese harbored toward the government’s handling of the outset of the pandemic, and the hunger they had for unfiltered information. A former lawyer from Shanghai, she traveled in early 2020 to Wuhan, the city where the virus was first detected, as a self-styled citizen journalist.

Persons: Zhang Zhan, Zhang, Zhang Keke Locations: China, Shanghai, Wuhan

☆ 'No question' China will retaliate against U.S. tariffs, advisory firm says
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'No question' China will retaliate against U.S. tariffs, advisory firm saysSteve Okun, senior advisor at McLarty Associates, says, however, that "it's not going to be immediate."

Persons: Steve Okun Organizations: McLarty Associates Locations: China

☆ Yellen says Chinese response possible on expected U.S. tariff action
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: +1 min

U.S. Secretary of the Treasury Janet Yellen speaks while presiding over a meeting of the Financial Stability Oversight Council at the Treasury Department on May 10, 2024 in Washington, DC. The United States could see a significant response from China following any U.S. tariff actions, U.S. Treasury Secretary Janet Yellen said on Monday ahead of expected new tariffs targeting certain sectors this week. "President Biden believes that anything we do should be targeted to our concerns and not broad-based and hopefully we will not see a significant Chinese response. But that's always a possibility," Yellen told Bloomberg Television in an interview. Asked if the United States wants a trade war with China, Yellen said: "We're working to stabilize our economic relationship.

Persons: Janet Yellen, Biden, that's, Yellen, Yellen's, Joe Biden Organizations: Treasury Department, Treasury, Bloomberg Television, Reuters Locations: Washington ,, United States, China

☆ European markets head for mixed open as traders look ahead to latest U.S. inflation data
▼ + stars: | 2024-05-13 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a mixed open at the start of the new trading week, and investors will be keeping a close eye on the latest U.S. inflation figures. April's consumer price index report is due out on Wednesday, with traders hoping that a return to rate hikes is largely off the table for the U.S. Federal Reserve despite a slew of hotter-than-expected inflation prints recently. Overnight, Asia-Pacific markets were mixed as investors assessed China's stronger-than-expected April inflation data; China's consumer price index climbed 0.3% year on year, beating Reuters estimates of a 0.2% rise. India's inflation figures will also be out late Monday, with economists polled by Reuters expecting inflation in the world's fifth-largest economy to slow slightly to 4.8% in April, down from March's 4.85%.

Organizations: U.S . Federal, Reuters Locations: Asia, Pacific, March's

Donald Trump upended decades of American policy when he started a trade war with China. Many thought that President Biden would reverse those policies. Instead, he’s stepping them up. Jim Tankersley, who covers economic policy at the White House, explains.

Persons: Donald Trump, Biden, Jim Tankersley Organizations: White Locations: China

☆ Chinese journalist imprisoned for her Covid reporting due to be released after four years
▼ + stars: | 2024-05-13 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —A Chinese citizen journalist who has been behind bars for four years over her reporting on the initial Covid-19 outbreak in Wuhan is due to be released Monday after serving her sentence, according to supporters and a court verdict. Zhang is due to finish her sentence on Monday, according to the court verdict on her case obtained and published by human rights groups. In the lead-up to her expected release on Monday, supporters and rights groups have called on the Chinese government to free Zhang on schedule. Failing healthThe 40-year-old has been on multiple hunger strikes since being detained and her health conditions have sparked concerns from supporters and rights groups. During a previous hunger strike, Amnesty International alleged Zhang was shackled and force fed, treatment the group said amounted to torture.

Persons: Zhang Zhan, ”, Zhang, ’ ”, Zhang’s, “, ” Zhang Organizations: Hong Kong CNN, Twitter, YouTube, Amnesty International, China’s Ministry of Foreign Affairs, CNN, Foreign Ministry Locations: Hong Kong, Wuhan, Shanghai, China

☆ Opinion | On the World Stage, Trump Likes to Occupy Two Places at Once
▼ + stars: | 2024-05-13 | by ( Curt Mills | ) www.nytimes.com time to read: +1 min

Love it or hate it, the United States has an imperial presidency, and in his first term, Donald Trump demonstrated a record of using such powers with noted relish on the world stage. Bush before him, Mr. Trump enjoys engagement with foreign policy. Mr. Trump’s approach to America’s place in the world is pragmatic or unpredictable or both, and it could offer surprising opportunities for peace. If Mr. Trump re-enters the Oval Office, he may seek to surprise in his final act, perhaps inspiring parallels, in its unpredictability and volatility, with Nixon and his “madman” foreign policy. In Mr. Trump’s first term, his results in foreign affairs have generally been underrated.

Persons: Donald Trump, Richard Nixon, George H.W, George H.W . Bush, Trump, Trump’s, Nixon, Abraham Organizations: Office Locations: United States, George H.W ., Israel, China

☆ China Is Raising Bullet Train Fares as Debts and Costs Balloon
▼ + stars: | 2024-05-13 | by ( Keith Bradsher | ) www.nytimes.com time to read: 1 min

China is taking the rare step of sharply increasing fares for riders on four major bullet train lines, in its broadest move to address rising costs and heavy debts since construction of the system began nearly two decades ago. The higher prices for train tickets are part of a push to raise prices for public services. Public services in China are heavily subsidized by local governments. But huge municipal debts mean that these governments have less money on hand to keep prices down. And making consumers pay more helps offset the falling prices that are widespread in China’s economy as growth slows.

Locations: China

☆ U.S. tariffs on China: How significant they are depends on 'a lot of layers,' China Beige Book says
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. tariffs on China: How significant they are depends on 'a lot of layers,' China Beige Book saysLeland Miller, CEO of the research firm, discusses U.S. President Joe Biden's plan to quadruple tariffs on Chinese electric vehicles and says, "you can have 100% tariffs on electrical vehicles, but there's also zero Chinese electrical vehicles coming into the United States right now."

Persons: Leland Miller, Joe Biden's, there's Locations: China, United States

☆ Asia markets largely lower as investors assess China inflation data, await Japan GDP print
▼ + stars: | 2024-05-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Federal Reserve regional presidents Neel Kashkari of Minneapolis and Austan Goolsbee of Chicago said they are taking a patient approach to monetary policy as they weigh surprisingly strong inflation data this year. Let's get a lot more data to see if this inflation is going to continue or if it's stalling," Kashkari said during a joint live interview on CNBC. "We are all committed to getting inflation back" to the Fed's 2% goal. Goolsbee noted the rapid disinflation that occurred in 2023 and said he is hopeful that can resume following the sticky upward trend seen so far this year. Or did we kind of use up all of our good luck and this bump of the beginning of the year is actually a sign of overheating?"

Persons: Neel Kashkari, Kashkari, Goolsbee, Jeff Cox Organizations: Reserve, CNBC Locations: Minneapolis, Chicago

☆ China is kicking off a $138 billion bond sale to help boost its flagging economy
▼ + stars: | 2024-05-13 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

China is about to start selling $138 billion in long-dated sovereign bonds, the finance ministry said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChina will start selling bonds this week in a bid to boost its faltering economy. The finance ministry said it will issue 30-year sovereign bonds worth 40 billion yuan ($5.5 billion) on Friday in the first of several sales aimed at raising 1 trillion yuan ($138 billion) overall. Beijing revealed its plans to start selling ultra-long sovereign bonds in March.

Persons: —, Premier Li Qiang Organizations: Service, Premier, Business Locations: China, Beijing

☆ Meet the group preparing for a Soviet Union-type collapse of the US economy
▼ + stars: | 2024-05-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the people preparing for the collapse of the financial system . The big storyPreparing for the worstAdobe; Chelsea Jia Feng/BIOpinions fluctuate on the economy, but one group has a decidedly strong take. In the subreddit r/economiccollapse, users are preparing for a Soviet Union-type fall of the US economy , writes Business Insider's Jennifer Sor. Further down the economic totem pole, ALICEs (asset limited, income constrained, employed) are struggling to make ends meet . 3 things in techAlex Wong/Getty Images, STR / Contributor/Getty Images, Stephane De Sakutin/Contributor/Getty Images, Abanti Chowdhury/BIHow Mark Zuckerberg turned against the news.

Persons: —, Chelsea Jia Feng, Jennifer Sor, Jennifer, aren't, Tyler, there's, Neil Dutta, Jim Simons, annualized, Alex Wong, Stephane De Sakutin, Abanti Chowdhury, Mark Zuckerberg, Zuckerberg, Rupert Murdoch, Sam Altman, Alyssa Powell, Rick Doblin, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, Chelsea, Macro, Renaissance Technologies, Big Tech, Apple, FDA, FOX Locations: Soviet Union, China, Washington, Beijing, New York, London, Chicago

☆ 'Unsafe' intercepts of Australian anti-submarine aircraft by Chinese fighter jets hint at what they may be guarding so aggressively, naval expert says
▼ + stars: | 2024-05-13 | by ( Ella Sherman | ) www.businessinsider.com time to read: +1 min

Chinese fighter jets are targeting Australian aircraft able to detect submarines with risky air maneuvers. Chinese aircraft interfering with Australian aircraft is reminiscent of Soviet Cold War-era harassment. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChinese fighter jets keep targeting Australian aircraft capable of finding and defeating submarines with hazardous maneuvers, suggesting that subs may be what the Chinese jets are guarding so fiercely.

Persons: —, Justin Burke, Lowy Organizations: Australian, Service, China, National Security College, Business Locations: China, Sydney

☆ SoftBank Vision Fund posts first annual gain in 3 years, up $4.6 billion
▼ + stars: | 2024-05-13 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

SoftBank's Vision Fund, the brainchild of the company's founder Masayoshi Son, has faced a number of headwinds including a slump in technology stocks as a result of rising interest rates, a tough China market and geopolitics. SoftBank posted a 7.24 billion Japanese yen ($4.6 billion) gain on its Vision Fund in the fiscal year ended March, the first time the flagship tech investment arm has been in the black since 2021. SoftBank's flagship tech investment arm, the Vision Fund, had a tough time in the fiscal year that ended in March 2023, posting a record loss of around $32 billion amid a slump in tech stock prices and the souring of some of the business' bets in China. However, in the June quarter of last year, the Vision Fund posted its first investment gain in five consecutive quarters, signalling early stages of a recovery. SoftBank's Chief Financial Officer Yoshimitsu Goto said in the previous quarter that SoftBank had shifted from an "Alibaba to AI-centric portfolio."

Persons: Masayoshi Son, SoftBank, Masayoshi, Yoshimitsu Goto, Goto Organizations: Vision, Vision Fund Locations: China, Alibaba

"We're like the engine room of the company," Hassabis told CNBC, speaking about his newly integrated AI unit within Google. Last month, Alphabet CEO Sundar Pichai merged Hassabis' DeepMind with Google Brain, a separate AI team, and selected Hassabis to lead the group. DeepMind CEO Demis Hassabis at a 2017 event in China. During his career at DeepMind and then at Google, Hassabis dominated the field of AI. Microsoft CEO Satya Nadella (R) speaks as OpenAI CEO Sam Altman (L) looks on during the OpenAI DevDay event in San Francisco on Nov. 6, 2023.

Persons: He's, Hassabis, Sundar Pichai, It's, Demis Hassabis, Geoffrey Hinton, Hinton, DeepMind, Elon Musk, OpenAI, Satya Nadella, Sam Altman, Justin Sullivan, Critics, they've, ChatGPT, AlphaFold, Eli Lilly Organizations: Google, CNBC, Microsoft, Elixir Studios, Hassabis, Washington Post, Employees, Novartis, TED Locations: China, DeepMind, San Francisco, ChatGPT, LLMs

☆ Shein promised to tackle overwork. A new report claims 75-hour weeks are still common
▼ + stars: | 2024-05-13 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

“The 75-hour weeks that we found out about two years ago still seem to be common at Shein,” the Swiss organization said. Public Eye interviewed 13 textile workers employed at six factories in Guangzhou, a region in southern China, last summer. Shein does not reveal the identity of its suppliers, Public Eye said in its report. The group said it established that the factories were Shein suppliers through interviewees’ responses as well as the presence of Shein products. I can’t afford any more days off because it costs too much,” Public Eye cited one worker as saying.

Persons: London CNN —, Shein, “, ”, ” Shein Organizations: London CNN, Workers, Public, Public Eye, Wage, CNN Locations: Swiss, Guangzhou, China, ”

☆ China's macro backdrop still points to an overall 'rangebound' market, says JPMorgan
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's macro backdrop still points to an overall 'rangebound' market, says JPMorganJulia Wang, executive director and global market strategist at JPMorgan Private Bank, says the "stability from the manufacturing side hasn't really found its way into the rest of the economy."

Persons: Julia Wang Organizations: JPMorgan Private Bank

☆ Chinese consumer stocks to buy even if the overall market rally fades
▼ + stars: | 2024-05-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

It's now focused on finding industry leaders with high free cash flow. Hong Kong-based AlphaHill Capital is looking specifically for Chinese consumer names with free cash flow growth, said Siliang Jiang, the firm's partner and portfolio manager. Jiang expects the Chinese consumer will start to turn around in the second half of this year or next year. China's "Consumer Confidence Index (CCI) edged up in the past 9 months, despite falling property prices and fears of 'household balance sheet recession '. Two of their picks based on positive free cash flow are Li Auto and New Oriental Education .

Persons: Ding Wenjie, Ding, It's, Siliang Jiang, Jiang, Li, Liqian Ren, Ren, — CNBC's Michael Bloom Organizations: Citi, China Asset Management Co, CNBC, Investors, China Merchants Securities, Baidu, Bank of America, Li Auto, New Oriental, Speed Railway, WisdomTree, Reuters Locations: China, India, Hong Kong, Tencent, Beijing, Shanghai, Shanghai . State

☆ China’s Xi Jinping highlights Europe’s divisions ahead of expected Putin visit
▼ + stars: | 2024-05-12 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

Chinese state media played up the warm diplomacy, with headlines proclaiming China’s “ironclad” bond with Serbia and “golden friendship” with Hungary. Both are sure to closely watch any summit between Xi and Russian President Vladimir Putin in China, expected to happen soon. Chinese leader Xi Jinping is welcomed at the airport in Belgrade on May 7 for his two-day state visit. Xi also marketed a shared worldview during his meeting with Orban in Hungary, which is a member of both the EU and NATO. Chinese leader Xi Jinping talks with Hungarian Prime Minister Viktor Orban in Budapest on May 9.

Persons: Xi, Peng Liyuan, Aleksandar Vucic, Viktor Orban, China’s, Vucic, Orban –, Emmanuel Macron, Ursula von der, Vladimir Putin, Orban, Hungary “, ’ ”, Philippe Le Corre, ”, Putin, Le Corre, Xi Jinping, Dimitrije Goll, Xi’s, Serbia’s Vucic, ” Vucic, Bruno Le Maire, BYD, Liu Dongshu, Vivien Cher Benko, Tamas Matura, Mark Rutte, Olaf Scholz, Matura, Von der, “ Orban, Gabor Scheiring Organizations: Hong Kong CNN, Russia, Ukraine, China, Europe …, Asia Society, Center for, Forum, Anadolu, Getty, EU, NATO, ”, Xi, Hong Kong’s City University ., Hungarian, Central, Dutch, Georgetown University Locations: Hong Kong, France, Ukraine, China, Belgrade, Budapest, Paris, Serbian, Hungarian, Serbia, Hungary, Europe, Russia, Russian, ”, Europe … Hungary, Center for China, Beijing, United States, EU, Hong, Central, Eastern Europe, Eastern, Moscow, Qatar, “ Hungary

☆ Philippines calls for expelling Chinese diplomats as South China Sea row escalates
▼ + stars: | 2024-05-12 | by ( ) www.cnbc.com time to read: +3 min

Chinese Coast Guard vessels fire water cannons towards a Philippine resupply vessel Unaizah May 4 on its way to a resupply mission at Second Thomas Shoal in the South China Sea, March 5, 2024. China said the United States must refrain from "stirring up trouble" or taking sides on the South China Sea issue, after U.S. Secretary of State Antony Blinken said a security deal with the Manila extended to attacks on the Philippine coast guard. The Philippines' national security adviser called on Friday for Chinese diplomats to be expelled over an alleged leak of a phone conversation with a Filipino admiral in a significant escalation of a bitter row over the South China Sea. Chinese foreign ministry spokesperson Lin Jian called the comments provocative and said Chinese diplomats in the Philippines had to be allowed to do their job. The report said the conversation had taken place in January and the transcript was provided by a "ranking Chinese official", which it did not name.

Persons: Shoal, Antony Blinken, Eduardo Ano, Lin Jian, Lin, Ferdinand Marcos Jr, Thomas Shoal Organizations: Guard, U.S, Philippine, U.S . State Department, Philippine Department of Foreign Affairs, Manila Times, Beijing, Reuters Locations: Philippine, South China, China, United States, Manila, Philippines, China's, Beijing

☆ The US-China rivalry will reshape the landscape for Big Tech earnings
▼ + stars: | 2024-05-12 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +5 min

The growth of US tech earnings is vulnerable to ongoing tensions with China. As Beijing exerts influence in the region, US tech firms will compete for a smaller market share. S&P Global data shows that for US chip firms, China is even more important for business than their home turf. AdvertisementGeopolitical tensionsAbishur Prakash, the founder of advisory firm The Geopolitical Business, told Business Insider that US tech companies ignoring the geopolitical tensions with China are risking serious setbacks to their portfolios. Experts believe that China will gradually contribute less to the revenue of mega-cap US tech firms.

Persons: —, Tesla, Apple, Prakash, Elon, Kelvin Wong, walling, Jay Pelosky, Pelosky, Wong Organizations: Service, TPW, American, Nvidia, AMD Locations: China, Beijing, India, Europe, South Korea, Taiwan, Japan, Southeast Asia, Vietnam, Malaysia, Indonesia

☆ Top Wall Street analysts are feeling confident about these 3 stocks after earnings
▼ + stars: | 2024-05-12 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

Bearing that in mind, here are three stocks favored by the Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance. Silberman noted that U.S. same-store sales growth of 5.6% reflected broad-based momentum, with improved traffic experienced in carryout and delivery. She added that the traffic growth was driven by Domino's revamped loyalty program, strong value proposition, operations and innovation. The analyst also noted that DPZ is benefiting from increased contributions from Uber Eats, thanks to growing marketing efforts and awareness. The analyst thinks that the company's strategic initiatives will enhance same-store sales growth and drive meaningful restaurant margin expansion in the near and long term.

Persons: Lauren Silberman, Silberman, Domino's, Uber, TipRanks, BTIG, Peter Saleh, Saleh, Baird, William Power, Power Organizations: Wall Street, U.S, Deutsche Bank, Investors, Apple's, Apple Locations: China, TipRanks

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